CMA holds Management Accountants’ conference from June 2-4:

Brace yourself for 21st century business rivalry

CMA, the National Professional Management Accounting Institute will have its annual flagship Management Accountants Conference from June 2-4 at the Taj Samudra Colombo.

On the aftermath of the second CMA Global Summit 2010 Colombo, CMA is surging forward with representatives from recognized international accounting bodies uniting once again to speak at this annual Management Accounting event of 2011.

The theme of the conference ‘CMA’s to Innovate and Drive Value’ is explained by C.K. Prahalad and M.S. Krishnan, in their book “The New Age of Innovation: Driving Co-created Value through Global Networks”.

The New Age of Innovation reveals that the key to creating value and the future growth of every business depends on accessing a global network of resources to co-create unique experiences with customers, one at a time. To achieve this, CEOs, executives, and managers at every level must transform their business processes, technical systems, and supply chain management, implementing key social and technological infrastructure requirements to create an ongoing innovation advantage.

IT and the management architecture form the corporation’s fundamental foundation. Some of the key areas that need to be implemented are: Redesigning systems to co-create value with customers and connect all parts of a firm to this process

* Treating all involved individuals-customers, employees, investors, suppliers-as unique

* Working across cultures and time-zones in a seamless global network

* Building teams that are capable of providing high-quality, low-cost solutions rapidly

To successfully compete on the battlefields of 21st-century business, companies must reinvent their processes and culture in order to sustain innovative solutions. The New Age of Innovation is a complete program for achieving this transformation to meet the needs of the end consumer of the future.

Within this perspective CMA will conduct the Management Accounting conference of 2011.

Thursday June 2 is the Inauguration of this prestigious event. The Chief Guest will be International Monetary cooperation Senior Minister Dr Sarath Amunugama. The Key Note Address will be made by Central Bank Governor Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka and the Guest Speaker will be the President of the South Asian Federation of Accountants - A.N. Raman. The CMA Business Excellence Awards and the CMA Academic Excellence Awards will be presented at this forum.

Friday June 3, Technical Sessions will be on Sustainable Value Creation by Finance Director of John Keells Holdings Ronnie Peiris, Country Manager of ACCA Sri Lanka Aruni Rajakariar and President of ICA Bangladesh Parveen Mahmud. This session will be chaired by Singer Sri Lanka Chairman Hemaka Amarasuriya.

This session will be followed by Corporate Performance Management and Capital Market by Director Management Consultancy Services of Deloittes India P Thiruvengadam, MD of Cornucopia Lanka Dinesh Weerakkody, CFO of Brandix Lanka Hasitha Premarathne. They will cover the topics of activity based costing, flexible remuneration and the capital market.

Session three will be on Strategic Risk Management and Corporate Governance Strategic Risks. This will be presented by D.S.W. Andradi, Partner of SJMS Associates, Abdul Kalam Mazumdar, Council Member of ICMA Bangladesh and Dr. Harsha Cabraal, Presidents Counsel. This session would cover risk management, exploiting the upside and implications of corporate governance on the corporate world.

The final session will be on Contemporary Management Accounting. Papers will be presented by Iresha Somarathna, Head of Energy and Environment of Brandix Lanka Ltd., Mohamed Hanif Ajari, Vice President of ICMA Pakistan, and Jayampathy Molligoda, Director Strategic Planning of Bogawantalawa Tea Estates Plc. This session will include the topics of carbon credit accounting, leveraging supply chain to corporate finance and management accounting for the plantation sector.

Saturday June 4, Technical Sessions will commence with Establishing a Globally Competitive Programme for Management Accountants.

Papers will be presented by Desley Ward, Manager Education of CPA Australia, Prof. Mangala Fonseka and Nuwan Gunarathna, Accounting Dept. of the Univ. of Sri Jayawardenepura, Philippa Riley, Director of BPP Ltd, UK.

The ensuing panel discussion will be with representatives of ICWA India, ICMA Pakistan, ICMA Bangladesh, CMA Sri Lanka, CPA Australia and BPP UK.