A continuing professional development (CPD) seminar on big data analytics for accounting was organised by the CPD Committee of the Institute of Certified Management Accountants of Sri Lanka (CMA) recently, at the CMA auditorium.
CMA President Prof. Lakshman R. Watawala inaugurated the seminar and delivered the welcome address. In his speech he stated that CPD seminars will be conducted on a regular basis to widen and update the knowledge of the members.
He also stated that IES 7 prescribes CPD for professional accountants to develop and maintain their professional competence so as to provide high-quality services to clients, employers and other stakeholders. This standard further draws international attention to the requirement on professional accountants to develop and maintain professional competence throughout their careers.
CPD is mandatory for all members of CMA for the renewal of their membership as well as to keep updated with the latest knowledge on accounting and finance, business, taxation, economy, digitization and other relevant topics and the members are entitled to two CPD credit hours for attendance at this seminar.
The speaker, Dr. Amal Shehan Perera was introduced by CPD Committee Chairman D.S.W. Andradi. Dr. Perera is a Senior Lecturer at the Computer Science and Engineering Department of the University of Moratuwa. He has wide experience in the area of big data analytics and has multiple research publications and is a co-owner of a US patent on data mining technology. His research and teaching interests include data science, data analytics, neural network and data engineering.
Dr. Perera in his presentation addressed the following key aspects of big data analytics: introduction to descriptive, diagnostic, predictive and prescriptive analytics; introduction to data sourcing, data storage, machine learning, dashboards and filters.
He explained how big data analytics can be applied in decision-making in business and accounting by using case studies.
He also stated that management accountants can play a very important role in their organisations by using big data analytics.
His presentation and the discussion that followed provided an excellent learning experience to the participants.
CPD Committee Member S. Jeyavarman thanked everyone for the support and participation.