Annual CIMA report shows positive outlook from management accountants

Despite turbulent times, the recent Chartered Institute of Management Accountants salary survey shows a profession relatively optimistic about their future. According to the report available from CIMA Global, which surveyed their members in the UK and throughout the world, ‘almost half (45%) of UK members are expecting an increase in personal salary in the next 12 months and 63% are considering alternative job opportunities in the next two years.”

In his executive summary, Chief Executive, Charles Tilley, noted that “the global CIMA community has shown notable resilience to the on-going turbulence in the global economy.” Despite positive salary levels and career expectations, many areas did also report an increase in working hours. As a final point, UK members were asked to describe management accounting in one word to which the top replies were ‘challenging, varied, strategic and interesting’.

To see how your salary and aspirations stack up against CIMA members see the whole report here- http://www.cimaglobal.com/Documents/Jobs-docs/Salary_Survey/UK_qualified%20salary%20survey2011.pdf

Getting the annual report right – advice from CIMA

Despite the rise of social media, not all business communications have to be restricted to 140 characters. The annual report is a vital piece of company documentation and financial managers need to consider both legal requirements and how to communicate well with all stakeholders.

A feature in FM (Financial Management) – the magazine of the CIMA - offers 8 ways to focus your annual report. Areas such as having KPI data available as early as possible and planning for different audiences are covered.

It also offers advice, with the help of key figures in the financial accounting sector, on structuring an online version. One contributor explains the power of the annual report being online. “There are millions of potential investors just a click away…try to make the online experience interactive – animate charts, for example... At a minimum, supply Excel spreadsheets they can download.” For the full feature go to the FM website. http://www.fm-magazine.com/feature/list/8-ways-focus-your-annual-report

You’re prepared for auto-enrolment but what about elsewhere in your company?

Is your company prepared for auto-enrolment? As a financial, payroll or pensions manager you may know the details of the changes in 2012 but do all departments have plans in place?
According to a survey by the Chartered Institute of Professional Development (CIPD), featured in Payroll World this week, many HR professionals knew about the changes regarding auto-enrolment, but less than one third knew the date the changes would apply to them.

Charles Cotton, CIPD reward adviser is quoted as saying , “My suspicion is that…HR has assumed that another team or department… is dealing with the response to the 2012 pension changes.”

In another article on the Payroll World website, the National Association of Pension funds (NAPF) has also said that the scheme would benefit from some plain English ‘rather than gobbledegook’ to help both staff and pension recipients. To get some clarity for you and your colleagues read more at www.payrollworld.com