CMA SRI LANKA COMES HOME WITH A KEY TO OPEN MANY DOORS
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Director-European Federation for Accountants and Auditors for SMEs(EFAA) Mr.Paul Thompson addresses the gathering at 16th CMA Graduation ceremony on 10th December 2019 at BMICH.
Accountants should keep on learning and improve what you practice
– Mr.Paul Thompson
Director-European Federation for Accountants and Auditors for SMEs
There was a time when a Sri Lankan youth come out of school, he either went to university or went nowhere at all. Times have changed and opportunities after school are plenty, now. However, one should make an educated decision about the career path one takes. It is important to know what would be involved in your future job and how far and how high it could and would take you. Also, how important your job is going to be.
What is in a management accounting career?
Management Accountancy is one of the main branches of accountancy. It doesn’t confine a person to crunching figures, adding, subtraction, multiplication, division and so forth. In the present-day complex and global commercial and industrial world that has come to the one’s finger tips, management accounting is an essential part of management. In fact, using, analyzing information available and reporting the results, it is the management accountant who guides and advises the management of an organization or Company, on every aspect such as increasing the efficiency of the management as well as the employees and future of the company.
National and International Recognition
CMA was incorporated by Act Number 23 of 2009 that was approved in April 2009 by Parliament of Sri Lanka and therefore, achieved the reputation as the National Management Accountancy Qualification.
The secretary to the Treasury on 21st August 2017 has sent the Public Enterprise circular No PED02/2017 to implement this cabinet decision of 4th September 2014 to recognize the CMA Sri Lanka qualification in the scheme of recruitment to the posts of Financial Executives in government corporations, statutory boards, state banks and government owned enterprises.
Members of the Institute of Certified Management Accountants of Sri Lanka (CMA Sri Lanka) have been approved to register as Company Secretaries. This amendment is based on a decision made by the Cabinet on 4 September 2014 when approval was granted for the recognition of the CMA qualification for the purpose of functioning as a Company Secretary.
As the course syllabus was designed on par with international standards with the help of CMA Canada (Now CPA Canada) and the quality of education satisfies international requirements, CMA could become a full member of the International Federation of Accountants (IFAC), the global organization for the accountancy profession with 175 members and associates from 130 countries representing 3 million accountants. In addition, CMA was accepted into the folds of International Federation of the confederation of Asian and Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA).
Recipients of the membership at the 16th Graduation Ceremony which was held on 10th December 2019 at BMICH
Easy to join
The basic requirement for enrolment for CMA Professional Management accounting Programme is 2 passes in Advanced level examination in any stream. Appreciating linguistic limitations of students, who have studied in their mother tongues up to the Advanced Level, CMA allows students to follow the first two levels of the course in a language of their choice, i.e. Sinhala, Tamil or English.
Prospect for Multi Qualification
Appreciating the facts that the current generation prefer to multi skill/qualify themselves for bettering their opportunities, broadening knowledge horizons lead to better and productive performance and employers prefer their employees to have knowledge in multiple fields, CMA has decided to allow candidates who hold several other professional qualifications to sit for their examinations. They can easily obtain the subject exemptions from CMA and sit for the balance subjects to complete the qualification. CMA invites graduates & undergraduates from government universities , Fully or partly qualified students from other professional bodies such as ACCA, CIMA, CASL,NIBM,NSBM,,SLIM, CIM, MBA, SLITT, SLIATE,IBSL to join with CMA and obtain your management Accountancy professional qualification.
Opportunity for a Quick Degree from Open University of Sri Lanka within 2 years
As the breadth of the CMA syllabus is so extensive, the Open University of Sri Lanka has decided to allow students who successfully complete the Managerial Level (Level 3) to join the 3rd year of its 4-year Management Degree Program. Many CMA students have made use of this opportunity so far, to complete the 4-year degree in just 2 years, becoming doubly qualified to make them valuable products in the job market. CMA takes pride in its students who have obtained double qualifications and holding higher positions in the industry.
Career Progression by adding a Post graduate qualification (MBA)
CMA members and passed finalists are eligible to follow MBA at the Post Graduate Institute of Management (University of Sri J’ Pura), University of Colombo and University of Kelaniya. CMA members are eligible for 6 subject exemption out of 12 subjects of MBA at Deakin University, Australia.
Furthermore, ACCA offers exemptions to CMA Passed finalist for 9 subjects in their program and CMA passed finalists need to do only 4 subjects of the Professional level of ACCA. Moreover, ACCA has waived off registration and exemption fee for CMA passed finalists.
Registration for CMA examinations are open until 31st January 2020. CMA invites students who sat for their Advanced Level examination to register with CMA .In addition to that graduates and undergraduates of universities and other professional bodies are also welcome to register with CMA and obtain your subject exemptions and complete the balance subjects.
Further information can be obtained from CMA Sri Lanka Secretariat, 29/24, Vishaka private Road, Colombo 4. Call on 0112596696 or Indika 0777593562 Bhanuka 0778833363