CMA - Australia to promote programmes in Sri Lanka
ACCOUNTANCY: The Institute of Certified Management Accountants (CMA)
-Australia is the only qualification to enter the accountancy field for
non-accountancy professionals/graduates in the country, Course Director
Nalaka Godahewa said.
The CMA (Australia) is an increasingly popular professional
qualification amongst business managers who want to enhance their
knowledge on management accountancy and presentation of decision
information in Australia will be launched before the end of this year.
AGREEMENT: An MoU was signed with ICBS recently to promote the CMA
(Australia) qualification in Sri Lanka. Professor Janek Ratnatunge
representing ICMA Australia with Nalaka Godahewa the Course
Director for the CMA Programme signed the MOU.
'We already have a large number of non-accounting professionals
wanting to join the programme. On the request of the Chartered Institute
of Marketing we have decided to give preference in the next batch to
Chartered Marketers who are seeking multi-qualifications, as we can
accommodate only a limited number per batch, Godahewa, said.
It has three levels of membership namely Graduate Member, Associate
Member and Full Member of ICMA.
Recognised non-accounting professional qualifications are entitled
for certain exemptions at the graduate GMA level, he said.
Certified Management Accounting (CMA) status which requires evidence
of having passed both the Institute's Advanced Management Accounting and
Advanced Strategic Management Accounting subjects at the post-graduate
level (or equivalent) and evidence of five years work experience in
Alternatively, qualified accountants with 10 years' experience in
management accounting can also apply direct for CMA membership without
Associate member (AMA) status, requires only three years' work
experience in management accounting and does not require the two
advanced subjects. Graduate member (GMA) status is available to those
with a recognised accounting degree (or equivalent) but without any
management accounting experience.
Non-accountancy professionals including CIM, Banking qualification
and other business management graduates will obtain 12 exemptions out of
16 subjects, which could be completed in nine to ten months, he said.
'You need to take two more strategic level subjects/modules later to
become a CMA, Godahewa added. Several reputed Universities recognise the
CMA Australia qualification.
For example a CMA can apply for exemptions from four modules if they
want to pursue an MBA at Monash University.
It is a saving of almost Rs 1 million. The local branch has linked up
with the HSBC Bank to offer students loans for prospective students, he
The total cost for four subjects will be Rs. 120,000 with 12
exemption subjects built into this price structure, Godahewa said.
For a batch it accommodates 40 students and all lecturers are
multi-qualified professionals who could share industry exposure with
The Imperial College of Business Studies (ICBS) will conduct classes
for CMA students in August. There is a big demand for a reputed
Australian Management Accountancy qualification in Sri Lanka especially
for career prospects and migratory options, Godahewa said.
He said that Professor Janek Ratnatunge of the Monash University who
is a Member of the Executive Committee of CMA Australia, was in Sri
Lanka to conduct a three day Strategic Level Module for 35 candidates
who are sitting for the CMA finals.
The Institute of Chartered Accountants of Sri Lanka organised the
programme, which was conducted for the 11th time in Sri Lanka.
During his visit Professor Ratnatunge also made a presentation on
'Budgeting for Integrated Marketing Communication' at the Chartered
Institute of Marketing for more than 100 senior marketers recently.
CIMA graduates could obtain the qualification by completing two
strategic level modules.
CMA- Australia is offering the course in several countries including
Australia, Europe, Africa, Hongkong, Philippines, Middle East and India.
The provider institutes are selected carefully to ensure the quality
In Sri Lanka only the ICBS is accredited to conduct the programme.
CMA (Australia) is currently sharing research and knowledge work with
USA accounting body and it is now in the process of negotiating for a
merge, if that is transpired it would be the world's largest accounting