Success

This issue features the success of our students at the November 2010 exams. We also spoke with two young and dynamic CIMA members who were willing to share their experience of work life at Amba Research. Your comments and ideas are always welcome. If you have any feedback or comments please send them to colombo@cimaglobal.com Kanchana de Silva Regional Manager Student Development Happy reading!

February/March 2011

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If you have not renewed your subscription fees which were due on 1 January 2011, please make the payment today to ensure that you are not removed from the register. You can pay online by credit card at www.cimaglobal.com or by a sterling bank draft payable to CIMA. You can hand over the bank draft to the CIMA Sri Lanka Division and we will forward it to CIMA UK.

Exam entry for May 2011

Exam entry for the May 2011 exams opened on 1 February 2011. The closing date for standard exam entry is 5pm GMT 14 March 2011. Exam entries are made through your my CIMA account. Please read the instructions for exam entry before entering the exams. You may only enter papers at one exam centre. You must accept the summary of exam rules and regulations on the last page of exam entry before you select submit. You should receive an email confirmation of your entry within 24 hours. If you do not, please check your entry carefully. If all the papers you want to sit are displayed in your account, you do not need to do anything apart from post payment if you did not pay online. If your entry is not displayed, then it is likely that you did not complete your entry. You will need to start again. If entering from outside the UK and Ireland and you do not have the required credit cards, you must select the post payment now button. You can pay by cheque or bankers draft. Please send your payment immediately. Your exam status is provisional until we receive your fees. CIMA must receive payment by 21 March 2011. If payment is not received by 5pm GMT 21 March, we reserve the right to withdraw you from the exam and charge a 62 exam non-payment administration fee. Please note that we do not accept cancellations and we do not refund fees.

Record number complete final exam at the November 2010 examinations

The Chartered Institute of Management Accountants (CIMA) the worlds leading and largest professional body of management accountants recently released the results of the November 2010 examinations which marks the second full session of exams of CIMAs new (2010) syllabus. As in May 2010, there were some excellent student performances, including in the T4 part B case study examination, which produced very good pass rates, both in the UK (67%) and in nonUK markets (52%). The Sri Lanka pass rate for the T4 part B case study examination was 61%. The normal range of pass rates was maintained for all other papers. The examination diet also saw the emergence of 365 exam completed students making 2010 a very successful year for CIMA with the passing out of 770 graduates which is highest. There have been some excellent student performances from around the world, proving that dedication and study can produce exemplary results. Several Sri Lankan students have received world rankings for their commendable performance at the November 2010 examinations. Akila Gunarathna was ranked fourth in the world for the T4 part B case study examination. Sarith Chathuranga was ranked second and ninth in the world for Financial Operations and Performance Operations. Umesha Alwis was ranked third in the world for Financial Management and Kalaivathaney Ariyalingam was ranked sixth in the world for Financial Strategy. Over the last year, CIMA has been working with quality learning partners to expand CIMAs examination capacity and availability to provide stakeholders with greater choice and flexibility. The September 2010 exam session was expanded as a pilot in the UK to allow a re-sit opportunity for students to sit papers P1, P2, and the strategic level papers E3, P3 and F3 as well as T4 part B case study on PC. Due to the success of the pilot in UK in September 2010, re-sit exam sessions will also be offered to Sri Lankan students in March 2011 for the strategic level papers. T4 part B case study on PC will continue to be available for first time and re-sitting students. CIMA will continue to look to extending this pilot in the future to benefit all of our stakeholders.

Exam techniques video

A training video on exam skills and real life exam techniques, by David Harris FCMA, a former CIMA examiner is available on the CIMA website. The video is of particular relevance to the professional qualification, but may also be of interest to those studying the certificate level, who are nearing completion of their studies at that level and planning to move on to the professional qualification. The link to the video is: http://www.cimaglobal.com/Students/2010-professional-qualification/Study-help-andtuition/Exam-techniques-video/

Akila Gunarathna fourth highest in the world for T4 part B case study at the November 2010 exams shares his experience as a CIMA student
It gives me pleasure to share my experience with you all. I started CIMA few years back, because my friends inspired me. Gradually I realised the value of the qualification. I found CIMA a challenging set of exams and this enhanced my interest. As an engineering student at University of Moratuwa, I did not have plenty of time to spend on CIMA to achieve my best at the exams. I strongly believe that my story would give you a set of valuable thoughts. I started my managerial level with the anticipation of a prize, because I knew how prestigious it was to be a CIMA prize winner. I worked hard, but the result was not enough for a prize. But I never gave up and I kept on trying, always following what my lecturers asked us to do. I was lucky enough to grab the CIMA Sri Lanka prize for Management Accounting Decision Management at November 2007 exams. I still remember the pleasure and the pride I had when I was awarded the prize and I consider it as a turning point in my life. I was recognised by many elite people. There is one thing to learn from this, in our life we should try our best. Then one day we will not have to regret that we could have done better. And remember, that we should not get discouraged if we cannot achieve our expectation. We should keep on trying because enthusiasm is a key success factor which lies at the bottom of the fountain of courage. I had to postpone my CIMA studies by one and half years due to university exams. I started my strategic level simultaneously with university industrial training so time was a constraint for me. But I continued to work hard because I always loved studying. Personal satisfaction drove me to work extremely hard. I did not have any holidays, my entire week was busy either with CIMA or office work. I found a nice study plan which you also can apply. Every day I got up between 3.30-4.00 am and studied up to 7.30 am. Then I went to office, came home and studied again in the night. I used to study even when I was travelling to the office, during office cleaning time, during the lunch time etc. I know it is difficult but I had no option other than trying my best. Economic recession hit my father's business, so I had to conduct tuition classes and earn money. I managed my expenses without being a burden to my family. I saved my earning and I am proud to say that I used this money to pay CIMA subscription as well. During training, I received an allowance, I never spent it. But my savings were not enough for my strategic level examination fee. I was thinking alternative options. I asked different people and a true friend helped by lending me money to pay for my exams. I realised the value of passing the exam for the first time, otherwise it would be a waste. I went through CIMA official learning systems, BPP revision kits, standard examiner answers, post examiner guides and other necessary resources.

As a CIMA prize winner I did not have to bear the tuition fees and I was given all study systems and revision kits for free, I am grateful to my tuition provider for this. I obtained academic leave for two weeks and I worked extremely hard. I had only 5 hours of sleep, I worked from 3.00 am to 10.00 pm continuously. My effort made me to score more than 70 for all three papers at strategic level. I personally consider it as a great achievement even though I did not win any prize. Due to the cumulative knowledge gathered at strategic level, I found T4 part B case study easy and enjoyable. Simultaneously I was offered a part time job to work with the lecturer. He had noted that I was a hard working guy by observing me at the strategic level class. This made me to earn few bucks, so I could continue to spend on my exams. I studied UK TV production industry, T4 case study assessment criteria, report format etc. I scrutinized examiner answers and post examiner guides, completed 8 mock exams under real exam conditions, read answers for another 10 -12 mock exams. The outcome was being ranked as 4th highest in the world for T4 part B case study. This is the greatest achievement in my life and I consider practice as the key to my success as well as never getting discouraged. We should always try our best, utilize the valuable time and never get disheartened. How many of you have done a SWOT analysis of yourself? I have done it and it worked. Life is not a bed of roses, it consists of thorns. It is our duty to work hard and achieve success. I wish you all the best for all your future endeavors!

CIMA Mind Challenge

The Chartered Institute of Management Accountants Students Society (CIMASS) is pleased to announce that the annual business quiz The CIMA Mind Challenge will be hosted for the 14th consecutive year this April. The CIMA Mind Challenge is open to CIMA students and exam completed representing the mercantile sector, CIMA tutoring colleges and independent teams of students/exam completed. The competition will be conducted in two stages with a preliminary round and the final event on a mastermind format. Competition detail Registration opens Registration closes The preliminary qualifications Announcement of the top 20 teams Finals Deadline 18 February 2011 12 March 2011 10.30am, 20 March 2011 26 March 2011 3.30pm, 10 April 2011 Place CIMA Sri Lanka Division CIMA Sri Lanka Division Colombo, Kandy & Galle AC CIMA Sri Lanka Division Cinnamon Lakeside, Colombo

If you wish to obtain a copy of the application form and the rules and regulations please email us on colombo@cimaglobal.com

Sri Lanka prize winners at November 2010 examinations

Subject E1 Enterprise Operations E2 Enterprise Management E3 Enterprise Strategy P1 Performance Operations P2 Performance Management P3 Performance Strategy F1 Financial Operations F2 Financial Management F3 Financial Strategy T4 Part B Case Study Highest aggregate at Strategic Level Name of winner Amila Perera Marks obtained 78

K.W.G.T.H.Sunera Tennakoon Ashani Amarasinghe S L A Sarith Chathuranga

78

73 90

Hussain Mohamed Rikas Mohamed Wishanth Wijesinha

76

74

S L A Sarith Chathuranga Umesha Alwis

92 90

Kalaivathaney Ariyalingam Akila Gunarathna Ashani Amarasinghe

83 38 217

Climbing the ladder at a world-class financial organization Thilan Sampath chose Amba to fulfill his yearning to put his education into practice in a real business setting. He had just completed the CIMA exams and was in his final year at university when he took the step to make his dream a reality. At Amba, he discovered a challenging workplace with a very supportive learning environment. Thilan went on to complete his final year at university and then also qualified as a CFA. Despite a heavy workload he was able to plan ahead and perform well in his exams with support and guidance from his manager. Balancing work with studies was very challenging he says, but in terms of obtaining study leave, learning support and financial support, Amba has been a tower of strength.

Thilan Sampath, ACMA Senior Associate Vice President Amba Research

The practical experience at Amba made it possible for him to obtain CIMA membership. I got my membership solely based on my work experience at Amba, he says. Speaking about working at Amba, There is a lot of opportunity to excel and showcase ones talent he says, adding that there is ample opportunity to perform well and move up in the organisation very quickly compared to other companies.

People are judged and rewarded on the quality of work they do. Its a complete meritocracy.

People are judged and rewarded on the quality of the work they do. Its a complete meritocracy. In June 2006 Thilan joined Amba as an intern and is now a senior associate vice president, having progressed continuously to the next level, each year. There is no doubt that Thilan has been able to put into practice what he learnt and that he has been able to leverage his financial skills. He has also had the opportunity to share his knowledge and experience with new batches that have joined Amba, by being involved in training programs. Continuous learning is part of the culture at Amba. Learning from the expertise of others and sharing ones own when possible, is the norm. It enables people to continuously develop their communication and presentation skills, he says. Participating in in-house capital market debates has also been an interesting highlight for him. In 2007 he participated in the CIMA quiz competition and was on the winning team. In terms of interests, Thilan likes to play cricket and has been a member of the Amba cricket club. He also maintains an interest in developments in the global capital markets. According to him, one of Ambas most special features is, the international exposure that is unparalleled to any other organization in Sri Lanka. Amba gives its analysts the opportunity to be world-class professionals by working with international clients and aspiring for the highest standards of professionalism and intellectual capacity, he adds.

Working with Wall Street

It has been a challenging adventure ever since. She initially provided support to a sell-side client and had the opportunity to cover different sectors and receive exposure to global financial markets. One of the highlights of her career was an onshore client visit to New York where she worked side by side with her client on Wall Street. That was a very rewarding experience, she recalls. Rashmi Pieris, ACMA Senior Associate Vice President Amba Research To be a financial analyst was her ambition, and at just 21 years of age, her career took flight. Rashmi Pieris joined Amba upon completing the CIMA exams in 2006, because she was convinced of the companys potential to take her places. Rashmi also successfully obtained CIMA membership. The work she did at Amba covered some of the core curriculum in the CIMA course such as financial statement analysis, valuation, and variance analysis, so she was able to meet the requirements for CIMA membership. She completed her BSc. in Business Administration while working at Amba and then started on her CFA. Balancing work with studies has been a big challenge, but she has found that it has made it easier to relate what she learns from her books to the work that she does.

There is a lot of emphasis on continuous learning at Amba, she says. This provides many opportunities to develop financial analytical skills, valuation skills, and capital market awareness. This experience really helps to develop ones skill set. The environment at Amba has also greatly contributed to her successful sprint up the ladder from an Analyst to her current position as a senior associate vice president.

You can approach a senior at any time if you have a question and they are always willing to teach.

According to Rashmi, one of the best things about Amba is the open culture. This sets it apart from other organizations. You can approach a senior at any time if you have a question and they are always willing to teach. Plus, she adds with a smile, You get to work with a lot of talented, intelligent people who are always ready to help you out. She has not only benefited through the training programs but has also had the opportunity to contribute to the learning process of new entrants. But it hasnt been all work and no play. Being involved in the various clubs has also been an interesting aspect of working at Amba and she has made friends with colleagues with different interests. Rashmi has been an active member of the quiz club at Amba and has also participated in the CIMA Mind Challenge. In her free time she enjoys dancing and listening to music.

CIMA Management Information Resource Centre (MIRC)

The comprehensive business library has all material relevant to CIMA qualification and an abundance of material to develop business and soft skills of students. Membership Services of MIRC are offered to CIMA members, students and leading business organisations. Student membership applications are available at the library counter. Collection Study texts, revision kits, short notes and past papers are some of the resources available relevant to the qualification. MIRC subscribes to several popular business periodicals and book summaries and they are available for reference. The comprehensive collection of management related books and DVDs will help students to enhance their knowledge and develop their business and soft skills. Services Lending of material, reading room, multimedia reference facilities and online catalogue access are among the facilities provided by the centre. Hours of operation Regular: Tuesday to Sunday 8am - 8pm Extended hours during CIMA exams: throughout the week 7am - 9pm