Annual results from ACCA show rise in demand for accountants

Healthy growth rates for member and student numbers


ACCA continues to see growth in member and student numbers, reflecting the need for professional accountants, especially in the context of the global economic conditions.

The global membership of ACCA now stands at 140,000, a growth of 6.5% from the 31 December 2008 figure of 131,500 members. Student numbers have increased from 366,000 to 404,000, a rise of 10.4%.

As a result of its increased global network and the reputation of members in 170 countries, ACCA is increasingly rated as the leading global professional accountancy body by employers around the world.

'ACCA has made significant contributions to the public debate on matters of world importance, such as the agenda of the G20 nations and in particular their call for the adoption of international accounting standards, COP15 and climate change, the value of audit, financial regulation and access to finance,' said Helen Brand, ACCA chief executive.

'This healthy growth comes during an economically challenging time, but it shows that the finance profession is an attractive global career. Accountants’ skills are more important than ever, to restore confidence in the global economy, to help businesses large and small to identify and manage costs and deliver sustainable growth.

'Following significant investment in enhancements to service delivery, ACCA students and members have recorded increased satisfaction with the levels of service they receive. The organisation is pleased to see that the enhancements delivered have led directly to perceived improvements in service levels by customers.'

Last year, ACCA opened offices in Brussels, Bangladesh, Chengdu and Macau, and also began collaborative work with major organisations such as KPMG, the Global Reporting Initiative (GRI), the Economic and Social Research Council (ESRC) and the IAAER (International Association for Accounting Education and Research). ACCA also partnered with CGA-Canada and CPA Australia for an Economist Intelligence Unit research report into small businesses and access to finance.

ACCA now has 57 global accountancy partnerships with organisations around the world. In October 2009, ACCA forged partnerships through a range of agreements and Memoranda of Understandings (MoUs) with:

* the Auditors Chamber of Ukraine
* the Georgian Federation of Professional Accountants and Auditors
* the Jordanian Association of Certified Public Accountants (JACPA)
* the Institute of Certified Public Accountants of Greece - SOEL Orkoton Elegkton Logiston)
* the Business Development Company Ltd (BDC), the umbrella body for small business development in Trinidad and Tobago
* the Jamaica Business Development Corporation (JBDC)
* the Barbados Small Business Association (BSBA).

Therefore, we students of ACCA have future prospect and this article was published by accaglobal.com on 26 April 2010

Professionalism, Intellectualism and Beyond

Professionalism is for me a tool to create a better material environment so that self-education can take place easily. Unfortunately, nowadays professionalism is an instrument of our greed. The more professional and intellectual one is, the more arrogant, greedy, dominating, and materialistic one tends to be. Most of the miseries that exist in the world of today go to the credit of our so-called professionals and intellectuals which have a strong ego due to their academic qualifications.

The world of matter is only an opportunity to realize that we are consciousness, which is homogeneous. Only such an experience can liberate us from our ignorance, which is the root cause of all miseries. Once we attain oneness, love, bliss, peace and freedom become our real nature. At present, does material or academic instruction focus on that lofty aim? Then what is the use of being professional or acquiring big certificates? “The right kind of education means the awakening of intelligence, the fostering of an integrated life, and only such education can create a new culture and a peaceful world”

People with the highest certificates and achievements in the material field are called professionals and intellectuals. But what about an integrated life where body, mind, heart and soul are united to enable one to experience peace, freedom, bliss, fearlessness? The world is filled with highly qualified people, yet has this brought any relaxation, happiness and comfort in this planet? Obviously, no! If professionals and intellectuals cannot contribute to make a better society, to bring peace, happiness and brotherhood, then what is the use of being one?

This bears evidence to the fact that what we need are professionals of self-education and that does not come with being academically educated. A great inward revolution is needed. However that demands humility, courage and the insight that sensuality and material progress have not brought any of the above (peace, love, freedom and bliss).At present it is not easy to find a humble person who would be willing to acknowledge his ignorance and be willing to learn.

Professionalism and intellectualism are not ends in themselves. They are rather means to produce more goods and services of better quality and to contribute to the economic and scientific development of the world. They should help to make life easy so that one can aspire easily to the higher aim of life, which is not material in nature.Proffesionals and Intellectuals should contribute for the betterment of individuals in the material field. Without a comfortable material life, the loftiest aim of life, which is self-education, cannot take place.

However much qualified a person might be, what does he gain apart from more material facilities and benefits than a non –professional? But do these bring smile, relaxation, leisure, peace of mind, bliss, freedom and good health to a person? Isn’t man running instinctively after happiness? There are people who are happy by leading a simple life. Have we forgotten the adage, “simple living, and high thinking”?

Is it possible to be a genuine professional in our present society where cut-throat competition, corruption, stress, anxiety and the struggle to survive are the main driving forces? While it is essential to have a very good academic, technical and rational training, it is more important for a professional to have honesty, intelligence , a sense of justice and compassion, to be free from greed and lust, to be creative, attentive and calm. In today's world, professionalism and intellectualism are viewed as opportunities to attain the peak of the material ladder from where one can satisfy one's greed and exploit others. Greed, lust and selfishness are holding the bridle of the social machine. This is why the world is suffering badly today!

My proposal is that we work on the minds and hearts of people, so that they do not become corrupt and at the same time understand their role in making a better world. That would be a great revolution.

Are you environment friendly?

Do you think it is worth to protect the environment??? Are you conscious every time you drop a paper on the road??? Since the last century, our planet is sick and needs us…we are the elders of tomorrow and we must be able to show good examples to our children and grand children. I Stephanie Racoute am very concern about the environment. When I was at school, I was among the environment clubs and during the whole year I had done a lot to protect it and also try to sensitize the most people I could and it was especially my school mates, my neighbours and my relatives. My parents have always taught me to use a bin and I have passed that to my little cousins as they are still young and learning start at the early age! Many of my friends found me a bit boring when I talk on protecting the environment, one day when we were leaving the school, my best friend was eating her bread and just after that she threw her tissue on the road, I told her to pick it up but she just did not care and continued to walk…I was angry and we started to argue and she challenged me and told me to pick it up myself if I had the guts! That day I prove my friends about my concerns for the environment and I just pick it up and from that day they took seriously the fact that I wanted them also to do some effort and try to stop littering everywhere. So friends, try you too to use all the bins on the roads, in classes and everywhere. Bins are there to be used, just use them as they are here to be filled.

The Game of Kings

The Old Indian defence, orang-utan opening or the Sicilian defence; all these have one thing in common. They are all chess openings. Long ago, chess was a game loved by the kings, that is why it is also often refered to as 'The Game of Kings'. Chess, originating from North West India in the sixth century, is a board game played between 2 players. Each player starts the game with sixteen pieces: one king, one queen, two bishops, two knights, two rooks and eight pawns on a board of sixty four squares. The main aim of the game is to trap the opponent’s king so that it is under threat of being captured but cannot move. This situation is known as a checkmate. In addition to it, chess is a simple application of the ‘game theory’. In simple terms, the game theory says that the success of one’s choices depend on the choice made by the opponent. Thus both players in a chess game are interdependent that is they depend on each other’s moves. This is what makes chess a complex and thoughtful game.

CHESS AS AN ANALOGY FOR BUSINESS STRATEGY

Many lessons can be learnt from chess. One of them could be business strategy. A business strategy is simply the strategies and tactics that a business will adopt to successfully compete on the market. A strategy is a long term plan while a tactic is a short term plan. In businesses the long term strategies are formulated at the strategic level while the short term strategies are formulated at the tactical level. There is also a third level which is operational planning and this deal mainly about control.

Strategy

In a chess game, the opening, i.e. how the pieces are placed at the start, is the most decisive part of the game because it will determine the strategy of chess player. A good strategy will help the chess player to gain a long term advantage over the opponent later in the game and it mainly deals about the positioning of pieces. After all, playing chess without strategies or plans is the best way to lose a game. The strategy is devised as the game flows. In addition to it, devising a strategy will require that the chess player forward thinks. In doing so, the chess player analyses all the alternatives and outcomes prior to making a move. This is not different to that of a business. At the strategic planning, the business (the Board of Directors) will analyse all the variables (government policies, level of competition or economic climate) and then will formulate long term strategies to enable their success.

Tactic

A tactic on the other hand is a short term strategy in chess. It usually results in the gain of a piece by putting the opponent in a situation where two pieces are under threat of being captured and he has only one move. As a result of this, on the next move, the opponent will lose one piece. Thus a short term advantage will be gained. This is not different to that of a business using tactics to compete on the market. A business tactic is where a business will act to gain an advantage in the short term so as to help in carrying out its strategy. For e.g. if a tactic was to prevent new entrants from getting into the market, the business may decide to lower its price below that of the new entrants to force them out of the market. These tactics are usually formulated by the various departments of the business at the tactical level.

Control

Staying in control of the game is as equally important as devising new strategies and tactics. This situation is where every move that the chess player makes, forces the opponent to make a predictable defensive move. Thus, to stay in control, good moves have to be made. A bad move can only result to losing time and wasting a turn. One can easily lose control of the match with one bad move and consequently losing the match. This is just the same for a business where a proper control system helps to monitor or adjust the performance of a business to get a positive outcome.

Life is like a game of chess

Another key lesson that is taught while playing chess is about life. In playing chess, one can see the different facets of life. These are planning, adapting to changing situation, sacrifice and temptation.

Planning

Just as for business strategy, one must always plan for future and devise strategies to reach those established goals. Always ask “What if....?” questions before making the final choice.

Adapting to changing situation

The only constant in life is change. Just like in chess, all opponents do not usually play the same sequence of moves all the time, so one should be able to adapt to changing situations. This means that one should not always play the same sequence of move he was used to, but instead play in relation to the moves of the opponent. This requires determination and willingness to adapt which are essential qualities in life.

Sacrifice

Winning chess games usually involve sacrificing the good pieces at the right time to benefit from it later in the game. Just as for life, one should do some sacrifices to benefit from them later.

Temptation

The opponent in chess will always try to devise tactics. This can be, for example, leaving a pawn unprotected. This might be a move to divert attention and try to expose one into vulnerable positions. Thus in life, one should not fall for such tricks and should remain focussed on his main aim. In chess, the main aim being to checkmate the opponent while in life, each one has his own aims.

In the light of the above, chess is a game where you learn to make plans and solve complex problems. Other skills that are learnt or developed include analytical skills, mental sharpness and problem solving amongst others. Analogies can be applied though, among which include business strategy and life as demonstrated above. Thus my advice to you is starting playing chess as it will only benefit you in a positive way. I will end by one of my favourite quotes "Every Chess master was once a beginner" so do not be afraid to start playing chess.