The Analyst Down Under

It's high time we knew all about the CIMA Strategic Level Exams. The main page for all information regarding Strategic Level is: http://www.cimaglobal.com/Students/2010-professional-qualification/Strategic-level The three papers (E3, P3 and F3) all need to be taken at the same time on the first sitting, (not that I was planning otherwise). There is a three hour written exam paper for the three exams, plus 20 minutes of pre-exam reading time, with two sections: Section A: a maximum of four compulsory questions, totalling 50 marks all relating to pre-seen case study and new unseen case material provided in the exam. Section B : two questions from a choice of three , based on short scenarios to which some or all questions relate, each worth 25 marks. The pre-seen material in section A will be published online six weeks before the exam and is common to all three of the strategic level papers at each exam sitting. That means that in case I have passed the managerial exams and will be...

Walking down the lane towards the masjid for maghrib prayers, I was finally able to breathe in the cool crisp air of the heavily planted upscale Clifton suburban lane, deliberately measuring my steps without any mental processes frantically trying to grasp those consolidation adjustments or other muddling thoughts. With the last few minutes of my attempts at earning more marks in the managerial exams having drawn to a close, I had given in my final paper with many-a-hope, fear and regret. For the main part, I vowed to start as early as possible in my preparation for the next exams so that I would be able to absorb the syllabus into my bloodstream, and simply let it flower during the exams, very much like the hard-working bee produces honey, instead of the usual last-minute desperate dash, complete with hair fall, worrying-sickness and weeks of jail-sentence-like studying routines. So now I have a 50% chance at passing at least one, and maybe two or even all three managerial level...

Yes, I'm shaky. And hoping I'll blossom like a wildflower during the exam, blazing guns and hitting the target without any shooting practice, not even the specimen paper, and a good part of revision process still underway with only four hours till I have to make the march to the exam hall. But from all I've read so far, I need to remember: - to take it as it comes: It's not all about the black and white I've had to drink in the last few (I mean xerox powder). As long as I'm making commercial sense and can draw on some of the material I've read, I can probably score, so I shouldn't be intimidated by a what's-that how's-that. Just give the man some good advice that someone like a boss or a client or such would be able to really use in practical life. That is the essence of CIMA exams and that should work out just fine. In fact, like formalized strategy formulation, I don't want to let the syllabus put me in a box. I'm sure I got a dece...

Scoring possibly 30% on the specimen paper is not good. But it could have been worse, since I didn't really think it would be so tough. Those guys weren't kidding when they said everything will be tested, and anything too, all the way from C01 to P1 and P2 as well. Now you don't just get by making calculations, you need to know the deeper logic, rationale and mathematical, logarithmic inner workings of all the concepts you've ever come across by now. You need stamina to go through the whole wringing process but the good part is that if you're some kind of management accounting guru by now you can simply: 1) quickly and comprehensively grasp the specific requirements of each question 2) analyze the scenario sharply and observantly, with a reasonable depth of understanding 3) use your vast management accounting and commercial sense to recognize what the problem is and what the appropriate solution is 4) rattle off relevant principles, theory and argumentation t...

As dusk approaches and the last day of (Bohra) Eid-ul-adha disappears into the sunset, I am finally getting set to begin my final preparation for P2 and E2 after almost a four-day stretch of preparing for my weakest paper (F2). Having taken a look over the May 2010 paper (another touch-and-go proposition), there is not much change in the existing strategy, though the pressing need for additional preparation continues to haunt me. The final preparation list is as follows, which will probably take place once I have given in the P2 paper on the final eve and day-time hours before the paper, hopefully armed with the revision kit and some clarified concepts: For the main bulk of the paper: 1. Understand clearly the requirements for subsidiaries, associates and joint ventures: when to consolidate fully/ partially and use equity accounting for consolidation of financial statements including SOCI, CSCIE, CSOFP and CCFS with crystal clear concepts relating to extent of ownership based on ...

I decided to keep this post separate from the earlier one to avoid cluttering ideas. Having attempted the F2 specimen paper, here are my learnings from the simulation: F2 Exam Strategy Using 20 minutes effectively: 1) Spend two minutes briefly taking a look at each question and determine its main requirements, underlining key words (please keep the highlight for when attempting to make sure that ALL the given facts, including irrelevant ones, are NOT highlighted) 2) Re-read through the further analyze requirements, correcting any earlier misconceptions, as if you are just ready plunge in to the answering - 5 minutes for part A, or up to 1 minute to fully appreciate the main requirements of part A questions, and up to a max of 2-3 minutes each to absorb the critical details of requirements for each question in part B that will determine the subject areas to elaborate or avoid in answering. 3) Use any remaining time to jot down keywords to elaborate on for theory questions, beginning wi...

Usually cribbing about the lack of public holidays in Karachi, the five day weekend for Eid-ul-adha should help to satiate our appetites, literally too, with plenty of meat to sink our teeth into. As Karachi reverts to six-day drudgery with the winter season bringing with it a healthy dose of aspirin and ibuprofen for all those running noses, this wonderful, vacation-like, last, long holiday-making stretch will be spent fully utilized in studying for the upcoming exams straight after with the kids staying home, as much as they would have loved to enjoy the changing season. Until yesterday, the chill was hurting everywhere, since I believed I didn't have a chance at passing at least one of the exams, F2, despite hours of study and sheafs of practice more than I did for F1. My failed attempt at getting the revision card kits delivered home may also have been a blow to my plans for revision, but the alternative of going through the practice kits instead may have been more fruitful any...

Another Homer Simpson moment 'Doh! I left out my CIMA exam results in that express pack to the ICAA, because of which my PASA application has been awaiting information for almost a week now. I tried all the silly things possible, but of course they didn't work. In the end I had to go and get the paper attested, put it in an envelope and courier it today on Tahir Saifuddin RA Maula's milad. Fedex quoted Rs. 4,000 and a 5% discount so I said goodbye. Then I saw OCS had a student package and since the ICAA sounds academic, I was able to convince them that this had to do with academia (not a complete lie).  So that only set me back another Rs. 1,280, which is still 500 less than Pakistan Post's Express Mail Service and possibly only a day or two earlier due to the weekend gap. Website address to track:  http://www.ocs.com.pk/tracking.php Packet Tracking Result Tracking No. 96250464774 Booking Date : 2010-11-03 Consignor : MR.TUAHA SHAKIR Origin: KARACHI MAIN OF...