CMA Sri Lanka signs MOU with University of Jaffna as an Educational Partner
The Institute of Certified Management Accountants of Sri Lanka (CMA) and the University of Jaffna signed a Memorandum of Understanding (MOU) at the Institute of Certified Management Accountants of Sri Lanka (CMA) in Sri Lanka, paving path to the students of University of Jaffna to obtain a recognized professional accounting qualification to specialize in Strategic Management Accounting while studying for the degree qualification. The MOU was signed by the Vice Chancellor of the University of Jaffna, Senior Professor (Miss) Vasanthy Arasaratnam and the President of CMA Professor Lakshman R. Watawala and the Executive Director of CMA Mr L. B Wattegedara in presence of the gathering of officials of CMA with the initiation of the Dean, Professor T.Velnampy, Faculty of Management Studies and Commerce (FMSC) of the department of Accounting.
The vision of the FMSC University of Jaffna is “to provide best possible human resources to society in the field of Management and Commerce.
The University of Jaffna is conducting 5 special degree programmes under Faculty of Management Studies and Commerce
The Institute of Certified Management Accountants (CMA) of Sri Lanka was set up in 1999 and incorporated in April 2009 as the National Professional Management Accounting Institution in Sri Lanka by Parliament Act No.23 of 2009. CMA was launched in the year 2000 with technical assistance of CMA Canada. Since its inception, CMA Sri Lanka has grown to an Institute comprising over 12,000 students and 2,000 Members. CMA Sri Lanka promotes and develops the study of Management Accounting, Financial Accounting, strategic management and conducts the Certified Management Accounting Program leading to a Professional Management Accounting qualification suited for the business sector. CMA professionals working in the Business Sector are referred to as Professional Accountants in Business.
CMA is incorporated under the Ministry of Cooperatives and Internal Trade and is a member of the South Asian Federation of Accountants (SAFA) and International Federation of Accountants (IFAC) the world body for professional Accountants.
Professor Lakshman R. Watawala, the President of CMA, stated that in today’s global & local context both in government & private sector more focus has been given to Management Accounting as Cost & Management Accounting improves the performance of the business organizations enabling accountants to control costs and improve productivity & efficiency to make their products & services competitive.
He also said that the objective of the CMA Study Programme is to produce Management Accountants endowed with capabilities, competencies and a globalized-outlook required to meet the challenges in organizations both locally and globally. The study programme consists with 17 core courses, 4 skill courses & The Integrative Case Study helps to develop glocalized mind set enabling students to work both locally & globally.
Those who qualify at the CMA after obtaining relevant practical experience could obtain their membership which enables them to use “ACMA” for Associate Certified Management Accountant and “FCMA” for Fellow of Certified Management Accountant.
Special exemption policy has been developed for the undergraduates & graduates of University of Jaffna studying the degrees of Bachelor of Commerce (Special), Bachelor of Business Administration(Specialization in Accounting), Bachelor of Business Administration(Specialization in Financial Management), Bachelor of Business Administration(Specialization in Human Resource Management), and Bachelor of Business Administration(Specialization in Marketing Management).
President CMA said that scholarships to do CMA Study Programme will be granted to the best performers at their final degree level and CMA offers a Gold Medal Award to the most outstanding student at the final level of the special degree for the Accounting subject. Students registering in year 1, 2, 3 of their degree programs, could now contact CMA for further details.