Guest of Honour, Ms. Judith Mathew, Interim Director, Canadian International Development Agency (CIDA) -PSU, presenting the Award to Mr. W. W. Weerasinghe, prize winner in the CMA final examination at the 2008 Graduation Ceremony held at the BMICH " |
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Background - The Society of Certified Management Accountants of Sri Lanka was set up with the technical support of CMA (Canada), and Financial Sponsorship of the Canadian International Development Agency (CIDA). Approval was granted by the Ministry of Trade in the year 1999 to set up the Society of Certified Management Accountants of Sri Lanka and this was by Gazette Notification. The CMA has signed Memorandum of Understandings with all the Professional South Asian Management Accounting Bodies the Institute of Cost & Management Accountants of India, Institute of Management Accountants of Pakistan and The Institute of Management Accountants of Bangladesh.
An MOU was also signed with the Department of Accounting of the University of Sri Jayawardenapura and the Open University of Sri Lanka.
Governing Council - The Governing Council consists of 8 Members all of them are Senior Chartered Accountants and also some of them are members of the Chartered Institute of Management Accountants of UK. The President of the CMA is Professor Lakshman R Watawala a Past President of the Institute of Chartered Accountants of Sri Lanka, Founder President of AAT Sri Lanka, Founder signatory to the setting up of the South Asian Federation of Accountants and a Past President of SAFA, a Past President of the Organisation of Professional Associations of Sri Lanka and was also the Founder of CMA Sri Lanka and has contributed immensely for the development of the Accounting Profession in Sri Lanka.
Incorporation of CMASL by an Act of Parliament- The Hon. Minister of Trade, Marketing Development Cooperatives & Consumer Services Hon Bandula Gunawardena submitted a cabinet paper for the incorporation of CMA and this has been approved and now ready for placing before parliament for approval. We are confident that this bill would be passed soon, and CMA duly incorporated by an Act of Parliament giving the added stature and recognition.
CMA Professional Qualification - Those sitting for the CMA exam specialize in Management Accounting, Financial Accounting and Strategic Management to become Business Professionals suitable to fit any industry, commerce or service organisation. CMA's as Strategic Management Accounting Professionals catering to the Business Sector are different from other professional bodies who equip their members to pursue careers as Auditors, Accountants or other Financial Specialists.
The exam is of 4 stages and consist of a Technician, Intermediate, Professional 1, Professional 2 and Case Study. The Case Study can be taken only after completion of Professional 2. In the examination if a student obtains the minimum pass marks in a subject then a pass is given for that subject and subject passes will be given upto Professional 2 stage.
Exams are held in March and September each year. The exams are conducted with the assistance of the Department of Examinations.
Meant for -
1. School Leavers after A/L and those awaiting entrance to universities
2. Students with a minimum of 5 credits at O/L
3. Those having Full/Part qualifications of professional exams ICASL/CIMA/ACCA/AAT/Bankers/Marketing/
4. Full/Part qualifications of HNDA/HNDC
5. Full/Part qualifications in Degrees/Accounting/Commerce
6. One year Certificate/Diploma qualification from a recognized institution
Those who have full/part qualifications in other professional exams and degrees are entitled to apply for exemptions.
University undergraduates will be able to complete all exams of CMA while doing University exams and obtain the CMA Professional qualification.
Those in Employment - CMA programme is also specially meant for those in employment in the Public or Private Sectors and want to progress in their career by obtaining a Professional Qualification. They could prepare for the exams using the study texts or follow lectures at the registered educational institutes. They also have the flexibility of training where the training could be carried out during or after the exams without disturbing their exams.
Mature entry is applicable for students who have a two year period of accounting experience in the public or private sector.
Affordable - The CMA programme is affordable and the cost is less than 1/10th the cost of foreign exams. Scholarships are also provided to those who seek assistance. The registration, annual subscription, exam fees, study material are all fixed at very reasonable prices.
Opportunity to obtain a University Degree - The CMA has signed an MOU with the Open University of Sri Lanka for students who complete the Professional 1 exam to register for the Bachelor In Management Sciences (BMS) degree programme. This will provide a Bachelors Degree for CMA students in addition to their Professional qualification.
Membership - Those who have completed all four stages could apply for membership provided they have completed three years of recognized practical training and on approval will be termed Associates of the Society of Certified Management Accountants and use the designation ASCMA.
Recognition - The CMA qualification will enable passed finalists and members to get exemptions in
CMA Canada, CGA Canada, ACCA, ICASL, CIMA, CPA Australia, Deakin University Australia and provides opportunities to go overseas.
For further details:
Contact :- Shanthi/Kapila/Anne 011 2506391, 011 2501062, 2 507087
Address :- Society of Certified Management Accountants of Sri Lanka,
No. 01, Bethesda Place.
Off Lester James Peiris Mawatha, (Dickmans Road) Colombo 05.
Web :- www.cma-srilanka.org
E-mail :- info@cma-srilanka.org |
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