Management accountancy may not sound like the most exciting of professions. But it performs a vital role by helping businesses to plan for the future, says Andrew Harding, the managing director of the Chartered Institute of Management Accountants (Cima). He explains how and speaks about why professionals should get the new designation"chartered global management accountant" (CGMA).
What do management accountants do?
Management accounting is about providing management with information for decision-making. It's about looking forward. It's not about reporting what happened or calculating the tax payable on what happened last year. It is about planning a business for the future. It's about saying "how is this line performing? What do I need to do to change it to generate better value from it?" Cima was founded originally by Unilever [more than 90 years ago] because it wanted good information with which to run its business.
Is the position more popular in the West or is it just as common in emerging markets?
Management accounting is well embedded in the traditional markets across Europe, increasingly in North America. And when we look around the world, we see in emerging markets, in fast-growth markets more and more demand … for management accountants. I was talking to a chief financial officer [CFO] here in Dubai … and he said any CFO for the future has to be a management accountant. It's not about looking backwards.
What about here in the UAE?
In the UAE, Cima has 2,500 members and students. That's growing year by year. We have had an office here since 2010 and we're seeing a growth in interest.
Cima has just introduced a new designation - a chartered global management accountant. What is it?
It is a designation for management accountants and it comes out from a joint venture which Cima has set up with the American Institute of Certified Public Accountants. The real differentiator for this is that it's the first time there has been a qualification for management accountants which is genuinely global, recognised in North America as well as the other major business centres around the world.
Why did you introduce it?
All too often we find that with other accounting designations, they are often recognised locally and they are sometimes recognised by European-headquartered business and often not understood by American-owned businesses. So what we're doing here is creating a genuinely global designation.
Why should management accountants pursue this classification?
It gives them a designation which recognises their management accounting skills and expertise, and it's a designation which will be recognised by employers across the world, be they headquartered here in the Middle East or in Europe or in North America.
What will they have to do to qualify for it?
The initial people receiving the designation are all members of Cima and American CPAs who have appropriate experience and competence in management accounting. In the future, all students here in the UAE who are studying for the Cima programme, once they qualify and achieve Cima membership, they will also be granted the CGMA designation.
So there are no tests?
There are no additional tests beyond the Cima examinations.
* Gillian Duncan
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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
No more lice
Defining head lice
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
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Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
UAE central contracts
Full time contracts
Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid
Part time contracts
Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma
The biog
Hometown: Birchgrove, Sydney Australia
Age: 59
Favourite TV series: Outlander Netflix series
Favourite place in the UAE: Sheikh Zayed Grand Mosque / desert / Louvre Abu Dhabi
Favourite book: Father of our Nation: Collected Quotes of Sheikh Zayed bin Sultan Al Nahyan
Thing you will miss most about the UAE: My friends and family, Formula 1, having Friday's off, desert adventures, and Arabic culture and people
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
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Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
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MATCH INFO
Fixture: Ukraine v Portugal, Monday, 10.45pm (UAE)
TV: BeIN Sports
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
Duminy's Test career in numbers
Tests 46; Runs 2,103; Best 166; Average 32.85; 100s 6; 50s 8; Wickets 42; Best 4-47
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
