Chartered Institute of Management Accountants (CIMA)  

In September 2009 IAB became a CIMA Listed Tuition Provider and registered CBA centre for the CIMA computer-based examinations. Course leading to the CIMA qualification will start in 2010. Most Armenian students who register with CIMA will be required to sit at least two (out of five) of the entry level papers but on completion of this level will be awarded the Certificate in Business Accounting (CBA). Examinations for CBA are computer-based and there are no specific deadlines; students can apply to sit the examinations at any time, subject to the administration procedures at IAB centre. There are deadlines for application to sit the professional level exams; further details are available from IAB Centre.

First time adoption of IFRS

The financial year 2009 will be the first year that Banking institutions in Armenia will be required to prepare their financial statements under IFRS. The transition from Armenian GAAP to IFRS will not simply be a case of changing the way that assets, liabilities and equity are measured and recognised at the end of the year. IFRS 1 (First time adoption of International Financial Reporting Standards) has many regulations regarding the first financial statements prepared under IFRS, all of which must be strictly applied if the entity wishes to claim that its financial statements are prepared in accordance with IFRS. more 

CIMA gets under way at IAB Centre 

The long-neglected field of management accounting in Armenia will receive a much needed boost when IAB Centre starts its training programmes for the Chartered Institute of Management Accountants (CIMA) this autumn. CIMA is a UK-based professional body whose qualification is internationally recognised and which is designed for those who wish to use their professional skills in a managerial context. The CIMA syllabus is as much about management and strategy as it is about accounting and finance.more