ZICA Chalimbana University Students Chapter

The Zambian Government plans to move to accrual based International Public Sector
Accounting Standards (IPSAS) by the year 2027. Accrual based IPSAS is the logical step to
promote a culture of accountability and transparency in the management of government
resources. As such, ZICA has taken a position to promote the implementation of accrual
IPSAS in Zambia. This implies that all accountants in public sector institutions must be fully
conversant with the IPSAS Reporting Framework.

Time: 08:00 to 13:00 hours on both dates
Training fees: K7, 500 per participant without Accommodation and K17, 000 with three (3)
nights’ Accommodation (Inclusive of Dinner).
CPD Credits: 12 Hours
For confirmations and registration follow this Link: https://bit.ly/3wgpBO5
For confirmations of payment, kindly email the proof of payment to : [email protected]
Account Name: ZICA or Account Name: ZICA
Bank: Stanbic Bank: Zanaco
Branch: Lusaka Main Branch: Centre branch
Account No: 9130000931865 Account No: 0027262500102

A Critique of the Statement: "Data-Driven Judgments Are Bookkeeping, Not Leadership"

The statement "Making good judgments when one has complete data, facts, and knowledge is not leadership - it's bookkeeping" presents an interesting proposition regarding the nature of leadership. While it raises valid points, a more nuanced analysis reveals the statement's shortcomings.

Strengths:

Highlights the limitations of purely data-driven decision-making: Leaders operate in complex environments where complete information is rarely available. They must navigate ambiguity, consider diverse perspectives, and make timely decisions even with incomplete data.

Underscores the importance of intangibles in leadership: Vision, empathy, communication, and the ability to inspire are crucial leadership qualities that transcend mere technical competence.

Weaknesses:

Oversimplifies the role of data in leadership: Effective leaders leverage data insights to inform their decisions, providing a foundation for sound judgment. Dismissing this aspect altogether can lead to subjective, potentially biased choices.

Undervaluing the expertise involved in data analysis: Extracting meaningful insights from vast datasets requires specialized skills and critical thinking. This analytical ability can be a valuable asset for leaders.

Neglects the collaborative nature of leadership: While vision and inspiration are essential, leaders often rely on teams with diverse expertise to gather and analyze data, ultimately leading to well-informed decisions.

A More Balanced Perspective:

While the statement accurately identifies the shortcomings of solely data-driven leadership, it oversimplifies the relationship between data and effective leadership. Data insights offer a crucial foundation for sound judgment, but true leadership involves integrating these insights with broader vision, emotional intelligence, and the ability to inspire and guide others towards a shared goal.

ZICA PRESIDENT VISITS COPPERBELT UNIVERSITY – 12 FEBRUARY 2024

The ZICA President Mrs. Yande Siame Mwenye visited the Copperbelt University (CBU) in Kitwe as part of her stakeholder engagement, accompanied by Council Member and Chairman of the ZICA membership Committee Mr. Mulendo Siame. She started the engagement with a courtesy call on the Vice Chancellor who was represented by Professor John Bwalya. “ZICA considers CBU as a strategic partner in ensuring a steady flow of accountants in the country. Our relationship has been long and rewarding hence our continued collaboration. A lot of our members have passed through CBU and as they grow out of the profession, there needs to be robust recruitment of students into the profession to avoid shortages of qualified accountants”, Mrs Mwenye said. The Acting Vice Chancellor, Professor Bwalya said that he was delighted to host ZICA and was looking forward to continued collaboration between the two institutions. He said that the School of Business was the largest at CBU and needed the support of ZICA to ensure graduates were fit for industry. During the call on the Acting Deputy Vice Chancellor, Professor Josephat Kalezhi, the President indicated the strong link between accountancy and information technology. She said that Artificial Intelligence had arrived and that the training of accountants now more than ever before needed to have a stronger focus towards information technology to ensure graduates were ready for the job market.
Later, the President made a presentation to the ZICA CBU Chapter made up of students from the School of Business. She emphasised the need for students to embrace change, information technology and ESG. In a message of gratitude, ZICA CBU Chapter President Mr. Stanley Zimba assisted by the Secretary general Mr Joshua Matongo thanked the President, Management of CBU and ZICA staff for making the interaction possible. He said that as a chapter, affiliation to ZICA was important as it brought to life the aspirations of those who chose to study accountancy as a profession. In closing, The Dean of the School of Business, Professor Chanda Shikaputo encouraged students to continue working hard. He said that there was nothing difficult as long as one set their mind to something. He encouraged female students to be courageous and to stand up and be counted. He said that he was looking forward to enhancement of the ZICA/CBU collaboration into research.
The ZICA President thanked management for the opportunity to visit the institution as well as students for turning up in big numbers for the meeting.

Dear Philip Muke,

On behalf of the ZICA CHAU student chapter, we wish you a very happy birthday! As our General Secretary Interim, you've embodied the spirit of an exceptional accountant: meticulous, dedicated, and with an infectious passion for the field. Your commitment has been instrumental in the chapter's success, from organizing insightful workshops to fostering a collaborative environment for all members.

We are incredibly grateful for your hard work and unwavering leadership. You are a true asset to our chapter, and we appreciate your countless contributions. May this special day be filled with joy, laughter, and unforgettable moments. We wish you all the best for a prosperous and fulfilling year ahead.

Happy birthday, Philip!

Sincerely,

The ZICA CHAU student chapter executives

The Institute publishes two (2) Magazines, the Accountant Journal (a quarterly publication) and the Student Accountant Magazine (3 editions per year). In this vain, the Institute would like to call for articles from members, students and the general public for both publications. The closing date for submitting articles 23rd February 2024.

For the Accountant Journal: Articles could be related to issues of Leadership, Management, Developmental, Accounting, Environment, Strategic Marketing, Financial reporting, Auditing, Financial Management, Legal, Corporate governance & Ethics, Economics, Insurance, Banking & Finance, Management accounting, Taxation, Public Sector, Corporate Social Responsibility, Career development, Business, Entrepreneurship, etc.

For the Student Accountant Magazine: Any interesting articles which would add value to the Students’ career.

Note: Articles per publication should not be more than 2000 words and should have proper citations and references for other peoples’ works. Writers should include their professionally done portrait pictures and a brief profile. The articles should be submitted in Microsoft word format.

For articles which are approved and published, the writers would be paid a competitive package. For further information or submission of articles, you may contact the Business Development and Corporate Services department on Tel 0211 374551-9. Alternatively, you can email to [email protected].

The Institute would like to express its sincere gratitude to all the article contributors for both publications.

ZICA has implemented a waiver on exemption payments for accounting and finance students with accredited Accountancy Degrees!
The Institute is offering free exemptions to enable eligible candidates to study the final level of CA Zambia without paying for exemptions. Here at ZICA we are committed to making the field of accounting accessible to everyone!
This offer is valid up to 31st March 2024. Take advantage of this opportunity and become a CA Zambia qualified accountant!

Accounting and finance act as the backbone of a stable Zambian economy in several ways:

Transparency and Trust: Accurate financial reporting fosters trust between businesses, investors, and the government. This transparency attracts investment and promotes fair market practices.

Resource Allocation: Sound financial management ensures resources are directed effectively towards key sectors like infrastructure and social programs, boosting overall economic well-being.

Debt Management: Responsible budgeting and debt control prevent excessive borrowing and financial crises, safeguarding the economy's long-term health.

Investment Decisions: Reliable financial data empowers businesses and individuals to make informed investment choices, stimulating economic growth and diversification.

Policy Formulation: Financial analysis informs government policies on taxation, spending, and economic development, fostering a stable and predictable environment for businesses.

Subject: ZICA Chau Executive Meeting Update - Action on the Horizon!

Dear ZICA Chau Members,

As your dedicated executive team, we wanted to keep you informed about a productive meeting held today with our esteemed patron. During this session, we openly discussed several key issues affecting our organization and its future.

Rest assured, your voices were heard loud and clear. We presented a comprehensive agenda that addressed your concerns and outlined our vision for moving forward. The patron was impressed by our commitment and collaborative spirit, and we received positive feedback on the plans we presented.

We understand your eagerness to see tangible results, and we want to assure you that action is on the horizon. We are currently finalizing the details of our action plan based on the discussions held today. This plan will address the main issues raised and outline concrete steps we will be taking to achieve our shared goals.

We are committed to transparency and will keep you updated on our progress. You can expect to receive a detailed communication shortly, outlining the specific actions we will be taking to address the concerns raised and move ZICA Chau forward.

Thank you for your continued support and trust. Together, we can build a stronger and more vibrant organization that benefits all members.

Sincerely,

The ZICA Chau Executive Team

https://meet.google.com/qqz-ppiu-rbn

Did you know that you can be more exceptional this year?

Join The Mentorship Class Today!!

👉Plan not to miss this mentorship just drop a text if you would like to be part and parcel.

✓ Crafting Today For Tomorrow's Success. - By SShadreck Musakabantu
(Inbox us to join)
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"Building Students into Professional Accountants 💲💱"

Hurry Hurry!!

Did you know that you can be more exceptional this year?

Join The Mentorship Class Today!!

👉Plan not to miss this mentorship just drop a text if you would like to be part and parcel.

✓ Crafting Today For Tomorrow's Success. - By SShadreck Musakabantu
(Inbox us to join)
____________________
"Building Students into Professional Accountants 💲💱"

Hurry Hurry!!

Greetings ZiCA-Chalimbana University!!!

We are extending an invitation from the Britts Imperial University College based in the United Arab Emirates 🇦🇪

It's a webinar on DATA ANALYSIS USING EXCEL

Upon attending, you will receive a free certificate.

Be intentional and up your skill as you position yourself in the corporate world.

👉(Inbox Us for the Link)

Kind regards,
Samuel Mushapa
Leadership and Personal Growth Facilitator
EQUIP ZAMBIA
Cc: Country Coordinator
Global Mindset Ambassador
MINDSET MASTERY 360
Cc: H.E Prof Dr Alisa Whyte
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Report By Muke Philip, interim Secretary General.

What is Cost volume profit?

CVP, or cost-volume-profit analysis, is a critical tool used in managerial accounting to analyze the relationships among costs, volume, and profits. It helps businesses understand how changes in these factors impact their financial performance, aiding in decision-making and planning.

To understand CVP analysis, let's break down its components:
- Cost: This refers to the expenses incurred by the business in producing its goods or services. Costs can be divided into fixed costs and variable costs. Fixed costs remain constant regardless of the volume of production or sales, such as rent or salaries. Variable costs, on the other hand, change in direct proportion to the level of production or sales, such as raw materials or direct labor.

- Volume: Volume refers to the level of production or sales that a business achieves within a given period. It can be measured in units produced or units sold.

- Profit: Profit is the financial gain that a business earns by subtracting all costs from its revenue. It indicates the success of a business in generating financial returns.

CVP analysis helps businesses understand the relationship between these components and how changes in volume affect costs and profits. This information is crucial for making informed decisions and developing strategies to maximize profitability.

By using CVP analysis, businesses can determine important parameters such as breakeven point and target profit. The breakeven point is the level of sales or production at which total revenue equals total costs, resulting in zero profit or loss. It helps businesses assess the minimum level of activity required to cover all costs.

Moreover, CVP analysis enables business owners and managers to identify the impact of changes in sales volume, selling price, or cost structure on profitability. It allows them to evaluate different scenarios, such as the effects of increasing sales prices or reducing costs, and make informed decisions about pricing strategies, cost control measures, or product mix optimization to achieve desired profit levels.

In conclusion, CVP analysis is a valuable tool in accounting that provides insights into the interplay of costs, volume, and profits. It helps businesses understand the breakeven point, assess the impact of changes in sales volume or cost structure, and make informed decisions to maximize profitability. With the aid of CVP analysis, businesses can plan effectively, set achievable targets, and adapt strategies based on a thorough understanding of their financial performance.
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Follow Us for more 📌📚
ZICA (Zambia Institute of Chartered Accountants)
ZICA-CHAU CHAPTER 🧾🖋️
Chalimbana University - CHAU

Today's , we feature Clifford's article.
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“There is no elevator to success. You have to take the stairs.
People know you for what you've done, not for what you plan to do.
Sometimes people don't notice the things others do for them until they stop doing them.
GOD has something better for anybody. All we need to do is just have to wait. 🔥🔥🔥
No matter what situation you're in smiling will try to relieve the pressure!”
~ Clifford Elton Nkholoma, the Interim Tours and Seminars Coordinator.

Report By Muke Philip



❤️

Did You Know? Even when accounting for total work hours, objective job performance, and employees’ self-ratings of conscientiousness, a later start time leads supervisors to perceive employees as less conscientious.

To join the meeting on Google Meet, click this link:
https://meet.google.com/uww-spdt-gdt

Or open Meet and enter this code: uww-spdt-gdt

GREETINGS INTELLECTUALS

The term "getting ready" is vast especially when it comes to one career. Questions like what should I study?Extracurricular activities to do, to mention but a few.

To those interested in their questions getting answered join us as
ZiCA CBU chapter presents to you A FIRESIDE CHAT with MMT-MWALE M TEMBO, who is going to Elucidate more .🙌🏼🙌🏼

Time :19:00 - 20:00
Platform: GOOGLE MEET
Date: 12th January, 2024

🥳🥳🥳We are all invited to attend.
HAPPY NEW YEAR 🥳

Joshua Matongo
Secretary General

To the ZiCA Chau Interim SG.

Listen to every Billionaire entrepreneur’s interview

You will realize the most repeated LIFE-ADVICE is:

GREETINGS INTELLECTUALS

The term "getting ready" is vast especially when it comes to one career. Questions like what should I study?Extracurricular activities to do, to mention but a few.

To those interested in their questions getting answered join us as
ZiCA CBU chapter presents to you A FIRESIDE CHAT with MMT-MWALE M TEMBO, who is going to Elucidate more .🙌🏼🙌🏼

Time :19:00 - 20:00
Platform: GOOGLE MEET
Date: 12th January, 2024

🥳🥳🥳We are all invited to attend.
HAPPY NEW YEAR 🥳

Joshua Matongo
Secretary General

To the ZiCA Chau Interim SG.

𝐋𝐚𝐮𝐧𝐜𝐡 𝐨𝐟 𝐙𝐈𝐂𝐀 - 𝐂𝐡𝐚𝐥𝐢𝐦𝐛𝐚𝐧𝐚 𝐒𝐭𝐮𝐝𝐞𝐧𝐭 𝐂𝐡𝐚𝐩𝐭𝐞𝐫

On 22nd February 2023, the Zambia Institute of Chartered Accountants (ZICA) launched the ZICA- Chalimbana University Student Chapter. The launch was officiated by the Chalimbana University Deputy Vice Chancellor Dr. Miyanda Simabwachi and the ZICA Director of Education and Training Mrs. Elizabeth Musukwa.

Mrs. Musukwa said the Institute is always happy to have student chapters formed by various Universities and Colleges, as it brings the Institute closer to achieving the primary mandate of promoting the accountancy profession and regulating the education and training of accountants in Zambia. She stated that the Chapters play a key role in ensuring that student members are well appraised with the current developments in the field of accountancy, access continuous development programmes, and promote professionalism amongst its members.

Dr. Simabwachi stressed the importance of fostering collaboration and networks. She stated that the School of Leadership and Business Studies often hosts events and activities that bring students, faculty, and industry professionals together. Dr. Simabwachi said that this provided an opportunity for students to network and build relationships that can be valuable in their future careers. Through the leadership of the Patron, Dr. Sikalumbi, and the Dean, Mr. Njobvu, the students were guided on the requirements to open the ZICA Chapter. Dr. Simabwachi affirmed that she was delighted to witness the launch of the ZICA - CHAU Chapter by the Zambia Institute of Chartered Accountants, which would go a long way in developing and growing the business minds of the students. She indicated that students will be graduating with a solid foundation in the accounting profession, making them more employable and relevant to the industry.
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By ZiCA ⬆️⬆️

Our chapter wishes all students are fruitful Tuesday as we embrace our tradition's where we put certain programs and personality in the public eye.
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What is your understanding on this quote in the graphic? “He that Counts His Chickens Before They Are Hatched Shall Often Find Himself At Breakfast With An Egg”

ZICA Chalimbana University Students Chapter
Davison Lusambo

"8 Things to Do When You Turn 20" by Debotosh Chatterjee offers valuable lessons and guidance for individuals entering their twenties.

Here is the first key takeaway from the book:

1. Define your goals: As you step into your twenties, it's crucial to define your goals and aspirations. Take the time to reflect on what you want to achieve in your personal and professional life. Setting clear goals will help you stay focused and motivated.

✓. What book are you reading now?

(Millions of Intentional readers must be raised.)

Assist us in wishing our Chalimbana University Information Minister, Mr. Innocent Simuyemba a wonderful and happy birthday.

The Accountants Chapter wishes you, our future Human Resource Manager a happier birthday with a divine touch from the Lord. We cherish your presence ❤️🎂🎂
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🖼️ Graphics: DavDavison Lusambo. InnoInnocent Hero Affordable

WAIVING EXEMPTIONS For The CHARTERED ACCOUNTANT (CA) Zambia qualification:

Embracing New Challenges and Growth Opportunities
The Institute is offering free exemptions to enable eligible candidates to study the final level of CA Zambia without paying for exemptions. ZICA is committed to making the field of accounting accessible to everyone!
Deadline; This offer is valid up to 31st March 2024. Take advantage of this opportunity and become a CA Zambia qualified accountant!

It is now clear, the Bally Challenge has been challenged 😂😂
TjTj Thokozile

The journey from a secondary school level to a Chartered Accountant in Zambia
============================

To become a Chartered Accountant in Zambia, you typically follow these steps:

1. Educational Foundation: Start by completing your secondary education with a focus on subjects like mathematics and accounting.

2. Tertiary Education: Pursue a relevant bachelor's degree, such as a Bachelor of Accountancy or Bachelor of Commerce with an accounting focus, from a recognized institution.

3. Professional Qualification: Enroll in a recognized professional accounting program, such as the Zambian Institute of Chartered Accountants (ZICA). Complete the required exams and practical experience.

4. Training and Work Experience: Gain practical experience through training programs or an internship with an approved employer. This hands-on experience is crucial for your professional development.

5. ZICA Examinations: Pass the ZICA examinations, which typically include stages like the Professional, Advanced, and Application levels.

6. Membership Application: Apply for membership with ZICA after successfully completing the required exams and meeting the practical experience criteria.

7. Continuing Professional Development (CPD): Stay updated with changes in the accounting profession by participating in CPD activities as required by ZICA.

It's essential to check with ZICA or the relevant regulatory body for the most up-to-date requirements and procedures as they may evolve.

ZICA Chalimbana University Students Chapter 💙 ZICA (Zambia Institute of Chartered Accountants)ZICA (Zambia Institute of Chartered Accountants)ZICA (Zambia Institute of Chartered Accountants) ❤️

It is with great pleasure that we bring to you the August – December Edition of the Accountant Journal. 💙🧢



Click on the link to access your e-copyhttps://www.zica.co.zm/wp-content/uploads/2023/12/August-December-Accountant-Journal-2023.pdf