Member Article

Birmingham’s Management Accountants prepare for gloomy forecast

Over 150 of Birmingham’s Chartered Management Accountants are preparing to examine performance and influence at an event being run by the Chartered Institute of Management Accountants (CIMA) on 29th March as the institute’s joint venture with the American Institute of Certified Public Accountants (AICPA) releases its first global economic forecast showing that over half of the UK’s Chartered Management Accountants are confident about their own firms but have low confidence for the UK domestic economy as a whole. Over 150 of Birmingham’s Chartered Management Accountants attending the “Performance and influence in pressure environments” event at Arden Hotel & Leisure Club, Birmingham on the 29th March 2012 are looking to develop focused techniques for influence and performance under today’s pressured environment. According to the CGMA Global Economic Forecast, a quarterly survey of more than 600 senior management accountants from around the world, published today (29 March), Chartered Management Accountants in the UK are confident and optimistic about their own organisations and shows glimmers of hope for the jobs market.

• Organisational optimism: more than half (54%) of respondents based in the UK are now optimistic about prospects for their organisation, up from 38% last quarter (globally 56% were optimistic, up from 46% last quarter) • Expansion: over two thirds (67%) of the UK based respondents expect their business to expand over the next year; (global picture with 66% thinking their business will expand) • Hiring: 40% of respondents from the UK said their organisation plans to increase their number of employees, a rise from 33% last quarter (globally, 42% said their organisation plans to increase their number of employees, a rise from 38% last quarter)

However, confidence levels were low when considering the plight of the global economy alone, while in the UK, confidence levels for the domestic economy were lower still.

• Global economy: Only 18% of respondents expressed optimism (ranging from a high of 22% of US respondents to a low of 10% respondents from ‘Rest of the World Developed’; UK respondents 20% and Europe 21%) • Domestic economy: UK respondents 17% optimistic and Europe 23%, compared with their US counterparts at 44% and 46% in Asia

Derek Barnes, CIMA Area Chairman representing Birmingham, said:

“Management accountants work where finance and business strategy meet and so are perfectly placed to assess the future from both a micro and macro level. Whilst it’s great to see that overall, confidence is up on the last quarter, when you look at the underlying factors there is a marked difference between how they feel about their own organisation’s ability to succeed in continuing challenging times and their confidence in the domestic and global economy to emerge from the gloom. However, many are predicting some growth in revenue, profits and spending which is encouraging.”

CIMA run a series of events for students, members and guests in Birmingham and across the UK on a regular basis across the year. For further information visit www.cimaglobal.com/localevents

This was posted in Bdaily's Members' News section by CIMA UK Regional News .