After A/L CMA will guide you to become a Professional Management Accountant with a degree

After A/L results there is no need to worry about what to do and where to go. Institute of Certified Management Accountants (CMA) of Sri Lanka has already paved a clear path for these after A/L to become management accountants with high quality, in a shorter period of time and at a lesser cost.

Why Management Accounting?

Basically, management accounting is a combination of cost and management accounting, financial accounting and strategic management which are essential ingredients to make a business successful. Management Accountants are employed by the private sector, government sector as well as non-governmental organizations. Their main responsibility is to prepare, analyse financial & cost data that are to be used within the company. Managing risks, making budgets, doing strategic planning together with other management staff, making decisions etc., are among other responsibilities. Choosing management accounting as one’s career would be rewarding and gratifying. Management accounting qualification can lead students to become Management accountants, Chief Financial Officers, Financial Director, financial controllers, Cost Accountants, Assistant Accountants, Accountants. But the list mightn’t end there as positions that are not envisaged today could be created in the future business world such as BPO sector.

CMA Sri Lanka

CMA is a professional management accounting body that offers the National Professional Certified Management Accounting qualification. It was incorporated by Parliament Act No. 23 of 2009 as the National Professional Management Accounting Institution in Sri Lanka to fulfil a national need in Sri Lanka .

We are nationally and internationally recognized

CMA, Sri Lanka qualification has been able to win national and international recognition similar to other local & foreign accounting bodies within a very short period of time due to high quality of it’s education curriculum.

In addition as per the companies (Secretaries) regulations, published in gazette No 1998/11 of 20th December of 2016, CMA members can now practise as company secretaries.

CMA was awarded the membership of the International Federation of Accountants (IFAC) the global body for accountants. IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of over 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

CMA, Sri Lanka holds the membership of the South Asian Federation of Accountants (SAFA) which is the forum for accountancy bodies in the South Asian region.

CMA received the membership from the Confederation of Asian & Pacific Accountants (CAPA) the accounting body for Asian and Pacific region.

ACCA (UK),CIMA(UK) and Institute of Financial Accountants (UK) offer considerable exemptions for CMA qualification.

Another important fact is that CMA qualification holders are eligible to get their qualification assessed by Certified Practicing Accountants (CPA) in Australia. CPA is one of the main authorized bodies to assess accounting qualifications with regard to migration to Australia and New Zealand. Further, Deakin University in Melbourne Australia gives exemptions for CMA passed finalists and members.

Minimum Registration Requirements:

Students who pass GCE A/L examination in three subjects can register and select a medium of their choice either English, Sinhalese or Tamil. For those in employment if they have two years of working experience in accounts/finance then they can register for the examination. The A/L students in any stream can register for CMA.

CMA Curriculum conforms to Framework of International Education Standards:

The educational Curriculum of CMA conforms to the Framework for International Education Standards for Professional Accountants..The Framework published is intended to support IFAC member bodies that have direct or indirect responsibility for the learning and development of their members and students and is relevant to a wide range of stakeholders, including accounting faculties at universities, employers of professional accountants, professional accountants, prospective professional accountants, and others interested in the work of the International Accounting Education standards Board(IAESB.)

CMA provides a dual qualification –

Professional Qualification and a University Degree through CMA course

When you register for CMA you have the opportunity to obtain a Bachelor of Management Studies Degree by obtaining exemptions and completing the balance units while doing the CMA examination. At the successful completion of the Managerial Level of CMA (level 111) students are eligible to be exempt from the First 2 Levels of the Management studies Degree (BMS) of the Open University of Sri Lanka and have only two levels to complete to obtain a Bachelor’s Degree. Students who have missed the University Entrance can now become a degree holder in addition to becoming a professional management accountant.

To obtain CMA membership – ACMA

Students should complete three years practical training. In this case too CMA will assist them to find places to obtain this practical training through 100 training Institutes already signed MOU’swith CMA for this purpose. Students can complete their practical training while they are doing their studies or they can complete practical training after the completion of examinations. Both ways are acceptable to CMA.

Training Opportunities

CMA, Sri Lanka has entered into Training Partner Agreements with a number of leading commercial entities as well as principal banks in Sri Lanka to provide opportunities for its students to undergo mandatory practical training. Training partners have agreed to provide placements in their companies/banks for CMA registered students as and when vacancy occurs in relevant divisions.

Enrolment for Post Graduate degrees

The Post Graduate Institute of Management - University of Sri Jayawardanapura, University of Colombo and University of Kelaniya will entertain applications from CMA passed finalists for its MBA programs.

E-learning and video lectures for working Adults

E-learning and video lectures are the mode of education that would help students and working adults to conquer issues such as distance and lack of time. They can study for CMA exams from home, or at their spare time while following another course or while doing a job. This could be the tailor made solution for AAT holders who are already employed but aspire to further their education in accounting to realize higher ambitions.

Contact CMA:

For further details and to register you could contact the CMA Student Registration Division on Tel. 011 4641701-3, Bhanuka 0766375456 and Indika 0777593562 or e mail info@ cma-srilanka.org Website: http://www.cma-srilanka.org/ Please register on or before 9th February.