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Studying for CIPFA’s professional qualification just got easier!
The Student Learning Centre contains the interactive study guides to help you prepare for success in the exams and your career and it went live on 1st Feb.
Student Learning Centre
For students not attending CETC added value courses there are other services that can help prepare you for the June exams.
- Mock exams – these can give you an indication of how well you are progressing through the study guides and have assimilated the learning content. Mock exams can be sat at home, at work or in class and take place in April.
- Course materials – the materials that CETC tutors use in class can be purchased by those not attending the course. The pack includes handouts and exam standard questions for practice.
- Revision courses – the CETC programme of revision courses starts in May and takes place at all CETC locations. An up to date list of revision courses and dates can be seen here: www.cetc.org.uk/courses/revision.cfm.
To discuss any of these services contact CETC on 020 7403 4300 or email enquiries@cetc.org.uk. More information can also be found at www.cetc.org.uk/students/openlearning.cfm
This article is intended to clarify the arrangements for the teaching and examination of international accounting standards within the Financial and Performance Reporting (FPR) module.
Last year the Chancellor of the Exchequer announced that public sector bodies would start preparing their financial statements under International Financial Reporting Standards (IFRSs), modified and interpreted as necessary to meet the needs of the public sectors, from the financial year 2008-2009.
This announcement only applies to those bodies directly or indirectly covered by the Financial Reporting Manual (FReM) issued by HM Treasury. This means that only central government and NHS bodies will be affected. The first statements prepared by these bodies under the new arrangements will be for the year ending 31 March 2009.
For the financial year 2007-2008 central government and NHS bodies will continue to apply UK Generally Accepted Accounting Practice (UK GAAP), as modified and interpreted by the FReM. The FPR teaching materials and examinations for bodies in these sectors will therefore continue to be based on these for the examinations in June and December 2008.
From January 2009 new FPR teaching materials based on the revised FReM will be issued and these will form the basis of the examinations from June 2009 onwards for central government and NHS bodies.
For local authorities CIPFA has announced its intention that, for the present, they will continue to prepare their financial statements under the Code of Practice for Local Authority Accounting in the United Kingdom – Statement of Recommended Practice (the local authority SORP). This will be prepared in accordance with UK GAAP, modified and interpreted as necessary for the local authority sector.
It is unlikely that local authorities will be required to fully comply with IFRSs until 2009-2010 at the earliest. Thus the earliest examinations which might be affected by any change to international standards would be June 2010. FPR learning material and examinations for 2008 and 2009 will therefore be based around the local authority SORP, which in turn will be based on UK GAAP.
Some students who have studied and passed Financial Accounting or Financial Reporting at Certificate level under international standards have expressed concern that they will have to learn the whole of UK GAAP in order to attempt FPR. This is not so. The differences between UK and international standards in the most significant accounting areas are marginal. In any case, the treatment in the public sectors is often modified by the relevant manual or SORP and may very well differ from both the UK and international treatment.
Even if you have studied international standards at Certificate level, UK GAAP, as taught in FPR, will still apply for some time, so do not be deterred from studying FPR.
Students wishing to move to electronic storage for their IPDS portfolio can do so in the Student Learning Centre. From 1 February 2008 you may start uploading and storing your portfolio elements, although CIPFA will only accept hardcopy portfolios for the March and June 2008 submission sessions.
From September 2008 we will be accepting IPDS Portfolios in both formats - hardcopy and online via the Student Learning Centre. There will be plenty of warning before we stop accepting hard copy portfolios.
The spring timetable for CIPFA courses in Northern Ireland is now available.
Now that Michael Hand has successfully completed the CIPFA qualification and is on the verge of full membership (well done, Michael!) we need a willing CIPFA student to act as the representative/contact for other CIPFA students in the Region. You’ll also receive requests for any news or events that you would like included in the student newsletter.
It’s a voluntary role, and not one that will take up much of your time (Michael, feel free to correct if wrong), so if it’s something that you’d be happy doing, please email rebecca.bazeley@cipfa.org.
Congratulations also to the latest graduates from the Department for Work and Pensions (DWP) Financial Management Development Scheme. The scheme is open to all CCABs and CIPFA dominated this year’s celebratory event with 8 newly-qualifieds.
The event was held in Leeds and attended by CIPFA’s Eileen Cummins (CPD Manager) who was there to cheer and steer them onto the path of CPD.
(Far left) Dominic Sumner, Jonathan Clear, Zoe Hicks, Jonathan Clitheroe, Lesley Clegg (who graduated through the Warwick programme), Eileen Cummins, Mark Murphy (blue shirt), Stephanie Hare, Lisa Harrison (far right)
The NWNW Student Forum has managed to secure 10 delegate places for this prestigious event to be held in Manchester on Tuesday 12th February 2008.
The day promises to be highly informative and enjoyable, with excellent learning and networking opportunities.It will cover a range of project management methods to help you deliver successful projects.
Further information can be found at the event website:
http://www.tenalpsevents.com/projectmanagement2008/manchester
Places are being allocated on a "first come, first served" basis, so if you are interested you should contact Natalie Slayman as soon as possible. There may be a waiting list, so if you do get a place and find you can’t attend, please let Natalie know.
The annual student conference is running alongside the CIPFA in Scotland annual conference which this year is being held in the Macdonald Highland Resort in Aviemore. The student conference programme is:
12:00 Welcome by Scottish Chair and Student Society Chair
12:15 Panel discussion – sustainability
13:15 Lunch and exhibition
14:15 Presentation Skills
15:00 How to get the best out of blended learning/update on student issues
15:45 tea/coffee
16:15 Ethics
17:00 Close
Attendance at the conference costs £120 and bookings should be made via the CIPFA Scotland website
At the recent North Eastern Region special general meeting, 98% of those who voted favoured splitting the geographically large region into 2 smaller regions, North East and Yorkshire & the Humber, with boundaries coterminous with the Government Office covering these regions.
The new Yorkshire and the Humber Students’ Group will continue the progress made by the old larger region, whilst being even more responsive to the needs and wishes of all students, both added-value and open learning.
The key aim is to engage with students, and to encourage them to fully participate in the wide range of events that will be organised over the coming year. These have been specifically designed with students’ interests in mind, and will include sector-specific, subject-specific, and generic topics, such as exam-skills, networking and IPDS, amongst others.
Student representative positions will be confirmed at the forthcoming annual general meeting of CIPFA in Yorkshire and the Humber. The proposed Student Group chairs are Karl Steenson (Leeds City Council) and Luke Smith (Grant Thornton), who are currently acting as joint chairs on an interim basis.
The group has a number of committed volunteers, but is always looking for new volunteers. There is no minimum time commitment, and volunteers do not have to travel to lots of meetings. If you would like to become more involved or have any questions or ideas concerning your regional students’ group, please contact: Karl.steenson@leeds.gov.uk, Luke.smith@gtuk.com, Yorksandhumber@cipfa.org
www.cipfa.org.uk/regions/yh/students.cfm
CIPFA is now inviting nominations for the Tom Sowerby Award 2008. The award honours those who have given outstanding service to CIPFA students, and will be presented, by the President, at the National Student Forum (NSF) Annual Conference at Manchester Town Hall on 3 July 2008.
If you have a colleague, tutor or mentor who has shown particular dedication to CIPFA students, why not make a nomination?
To make a nomination for the Tom Sowerby Award 2008, go to the dedicated website at http://www.cipfa.org.uk/students/current/sowerby.cfm As well as the official nomination form, this website includes profiles of recent winners, and should give you some ideas on the types of candidates we’re looking for. The deadline for nominations is Friday 7 March 2008. Hope to hear from you soon!
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