The Institute of Certified Management Accountants of Sri Lanka, (CMA Sri Lanka) is a professional body offering qualification in management accountancy in Sri Lanka. It mainly focuses of development and promoting the study of Management Accountancy, establishing management accountancy standards, and promote the profession of management accountancy in Sri Lanka.

History.

The institute was initially established as "Society of Certified Management Accountants of Sri Lanka", on 3 June 2000 in

Colombo Colombo ( ; si, කොළඹ, translit=Koḷam̆ba, ; ta, கொழும்பு, translit=Koḻumpu, ) is the executive and judicial capital and largest city of Sri Lanka by population. According to the Brookings Institution, Colombo m ...

Sri Lanka with the help technical assistance and the guidelines of Certified of Management Accountants of Canada (CMA Canada), now

CPA Canada Chartered Professional Accountants of Canada (CPA Canada) (french: Comptables professionnels agréés du Canada) is the national organization representing the Canadian accounting profession through the unification of the three largest accounting o ...

and the Institute of Management Accountants (IMA) of USA and International Federation of Accountants (IFAC) which is the global organization for the accountancy profession. Initially, the

Canadian International Development Agency The Canadian International Development Agency (CIDA) was a federal Canadian organization that administered foreign aid programs in developing countries. The agency was merged into the Department of Foreign Affairs in 2013 by the federal governmen ...

(CIDA) was funded the formulating of the new educational syllabus, preparation of study material, and other related inauguration works. The CMA Sri Lanka received the help of CMA Canada in the preparation of its first educational syllabus, study material and examination works in order to comply with the international standards.

International Associations Recognition.

CMA Sri Lanka now a full member of the

International Federation of Accountants The International Federation of Accountants (IFAC) is the global advocacy organization for the accountancy profession; mainly for the financial accounting and auditing professions. Founded in 1977, IFAC has more than 175 members and associates i ...

(IFAC) since 2014. The IFAC is a global organization for the accountancy profession. The institute, received the membership of other regional accountancy bodies such as the

confederation of Asian and Pacific Accountants The Confederation of Asian and Pacific Accountants (CAPA) is a regional organization representing 33 national professional accountancy organizations (PAOs) operating in Asia and the Pacific. These PAOs, referred to as CAPA’s members, represent ...

(CAPA). Member of the South Asian Federation of Accountants (SAFA). and

Toastmasters International Toastmasters International (TI) is a US-headquartered nonprofit educational organization that operates clubs worldwide for the purpose of promoting communication, public speaking, and leadership. History The organization grew out of a single c ...

Examination Structure

The institution has 4 levels of examination and an integrative case study. The examination levels are respectively Foundation Level, Operational Level, Managerial Level, Strategic Level. The examination syllabus change in every 5 years to meet the industry standards. The first two levels available in English, Sinhala, and Tamil languages (medium), and the final two levels only available in English medium. All the levels can be completed in a 2.5 year period of time. Examination held every year May and November. The current examination syllabus consists 17 core course units, 4 skill course units, and a final integrative Case Study. After completing all the 17 core courses and 4 skills course candidates can sit for the final case study. The minimum pass mark per subject is 50. The current examination covers the

Management Accounting In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions. Definition One simple definition of management accounting is th ...

Financial Accounting Financial accounting is the field of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use. Stockholders, ...

Financial Management Financial management is the business function concerned with profitability, expenses, cash and credit, so that the "organization may have the means to carry out its objective as satisfactorily as possible;" the latter often defined as maximizin ...

, Strategic Management Accounting, Personal and Corporate Taxation, Business law and Corporate law, Auditing,

Information Technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of Data (computing), data . and information. IT forms part of information and communications technology (ICT). An information te ...

Marketing Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emph ...

& Human Resource Management, Strategic Management,

Business English Business English is a part of English for specific purposes and can be considered a specialism within English language learning and teaching, or a variant of international English. Many non-native English speakers study the subject with the goal ...

, etc.

Global Partnerships.

Through partnerships with the international professional institutions, CMA Sri Lanka passed finalist and members who followed without getting exemptions for the CMA examination subjects can obtain other related professional qualifications. * Association of Chartered Certified Accountants - ACCA (UK) awards F1 to F9 subjects exemptions. *

Chartered Institute of Management Accountants The Chartered Institute of Management Accountants (CIMA) is the global professional management accounting body based out of the UK. CIMA offers training and qualification in management accountancy and related subjects. It is focused on accountan ...

– CIMA (UK) awarded Foundation Level and Operational Level exemptions. * Institute of Financial Accountants – IFA (UK) awards Technician, Associate and Fellow level papers exemptions. *

CPA Australia CPA Australia ("Certified Practising Accountant") is a professional accounting body in Australia founded in 1886. As of 31 December 2020, it has 168,736 members working in 150 countries and regions around the world. CPA Australia currently has 1 ...

- offer to get an associate membership. *

Certified General Accountants of Ontario Certified General Accountants of Ontario (CGA Ontario) is the professional association of certified general accountants in the province of Ontario, Canada. It is the largest affiliate organization of CGAs in the world, responsible for the accredit ...

– CGA Canada offered maximum of 12 subjects exemptions.

University Links

The CMA Sri Lanka passed finalist can obtain the benefits of the following qualification., *

Open University of Sri Lanka "The Open University of Sri Lanka" (OUSL; si, ශ්‍රී ලංකා විවෘත විශ්වවිද්‍යාලය, ta, இலங்கை திறந்த பல்கலைக்கழகம்) is a national universit ...

offers Bachelor of Management Studies (BMS). Can register in the level 5 and need to select a specialization area subject at the 6th level. * Postgraduate Institute of Management (PIM) Sri Lanka (Affiliated to

University of Sri Jayewardenepura ''Vijja Uppattam Setta'' , mottoeng = Among all that arise, knowledge is the greatest , established = , undergrad = 14,750 , postgrad = 3560 , administrative_staff = 3950 , cit ...

) - CMA Passed Finalists are eligible to register for the Masters in Business Administration (MBA) degree. *

Deakin University Deakin University is a public university in Victoria, Australia. Founded in 1974, the university was named after Alfred Deakin, the second Prime Minister of Australia. Its main campuses are in Melbourne's Burwood suburb, Geelong Waurn Ponds, ...

– Melbourne, Australia offers 10 credit points exemptions.

Legal recognition

The qualified members have been approved to register as Company Secretaries under the Companies act no 7 of 2017 of Sri Lanka. ( gazette extraordinary no. 1998/11 dated 20-12-2016 prepared under the article 527 of Companies Act no. 07 of 2007,) Moreover, the CMA Sri Lanka's qualifications now use in recruitment to the Sri Lankan government services including the Sri Lanka Accounting Service, Sri Lanka Audit Service, Government corporations, state-owned businesses, semi-state own companies, and state banks. The students who have completed up to the Managerial Level (Level 03) with 10 years proven accounting experience can apply for Tax Authorized Representative qualifications under the Inland Revenue Act, No. 10 of 2006 of Sri Lanka.
Act special gazette pdf file

Membership

CMA Sri Lanka has two grades of full membership and a part qualification designations. For full membership: * ACMA - Associate Members of the Certified Management Accountant of Sri Lanka. * FCMA - Fellow Members of the Certified Management Accountant of Sri Lanka. To become an ACMA every passed finalist student should cover the 3 years compulsory practical training requirement, case study examination, and a viva voice examination. The every trainee should maintain a training document and certify it by the CMA Sri Lanka approved witness (A qualified Accountant). After gaining the ACMA qualifications and completing the 5 years working professional experience including 3 years of senior managerial level with the 120 hours of the

continuing professional development Professional development is learning to earn or maintain professional credentials such as academic degrees to formal coursework, attending conferences, and informal learning opportunities situated in practice. It has been described as intensive ...

(CPD) requirement can obtain the FCMA designation. For Part Qualification membership: * AMA - Associate Management Accountant of Sri Lanka. The institute offers AMA part qualifications for the students who have completed up to the Managerial Level (3rd level) examinations and cover the two years of practical training requirement.

Strategic Alliances

The Institute of Certified Management of Sri Lanka enjoys MOU agreements with the * Association of Chartered Certified Accountants (ACCA). (Exempt ACCA F1 to F9 papers for CMA passed finalist students & members who set the CMA relevant papers) *

. * Chartered Institute of Management Accountants – CIMA (UK). * Institute of Financial Accountants – IFA(UK). * AIMA India. * CMA Canada now

. * ICMA Bangladesh. * ICMA Pakistan. * ICWA India now ICAI India. * Malaysian Institute of Accountants (MIA). *

in Australia, *

. * University of Sri Jayawardenepura in Sri Lanka. *

University of Colombo (Buddhih Sarvatra Bhrajate) , mottoeng = ''Wisdom Enlightens'' , established = , endowment = LKR 1.461 billion

in Sri Lanka. * University of Kelaniya in Sri Lanka. * Gujarat Forensic Sciences University in India. And several other leading international accountancy bodies and universities.

References

External links

CMA Sri Lanka website

History.

no 23 of 2016 of the Parliament of Sri Lank
pdf file

IFCA
Membership page.

with other institutions.

of CMA Sri Lanka. * CMA Sri Lank

* CMA Sri Lank

. * CMA Sri Lanka National Management Accounting Conference 2016
Link 2

Global Management Accounting Summit 2015

CMA Sri Lanka Excellence in Integrated Reporting Awards– 2016
. {{DEFAULTSORT:Institute of Certified Management Accountants of Sri Lanka 2000 establishments in Sri Lanka Management accounting Member bodies of the International Federation of Accountants Organizations established in 2000 Professional accounting bodies in Sri Lanka Accounting in Sri Lanka