53 CMA management accountants pass out at May 2016 exam

International Federation of Accountants President Olivia Kirtley awarding the CMA Final Certificate to A.A.D.I.G. Kumari, who qualified at the May 2015 examination, in the presence of IFAC Chief Financial Officer Russell Guthrie and CMA Sri Lanka President Prof. Lakshman R. Watawala

The institute of Certified Management Accountants of Sri Lanka (CMA), the national management accounting body in Sri Lanka incorporated by an Act of Parliament No 23 of 2009, congratulates the success of 53 management accountants passing the May 2016 examinations. 
The pass rates at the Final Level were 74 percent, Strategic Level 54 percent, Managerial Level 57 percent, Operational Level 64 percent and Foundation Level 89 percent. 
One of the main achievements of the CMA passed finalists are that they have all obtained jobs and are now ready to apply for membership where they can use the credentials ACMA. 
CMA students have shown a remarkable performance at the May 2016 examination. Conducting lectures by accredited educational institutes, pre-examination seminars, revision classes, workshops, e-learning programmes, video lectures and revision programmes and study materials had enabled the students to achieve success at the examinations.
The CMA Sri Lanka Study Programme consists of four levels and at the apex the integrative case study. The core course units are clustered into three main streams management accounting, financial accounting and business management. Also CMA conducts the examinations in English, Sinhala and Tamil Medium up to Level 2 - Operational Level and at Managerial and Strategic Levels in the English medium. Students are free to select the medium of instruction and it has been found that many of the students select the English medium while others convert at the Managerial Level, which will assist them to obtain international recognition and preference when applying for jobs. 
CMA will also assist registered students to obtain its practical training from over 100 approved practical training institutions and be ready to be employed by the private and public sectors.
Those who become CMA professional management accountants are amply equipped with skills, integrity, high values and standards in ethics and corporate governance and ready to serve both the private and public sectors.
The importance of the management accounting profession is that they specialize in management accounting, financial accounting and strategic management to become business professionals suitable to fit-in to any industry or corporate sector.
Internationally, CMA is highly recognized and members of the foremost accounting bodies in the world and full members of the International Federation of Accountants (IFAC), South Asian Federation of Accountants (SAFA) and serves on the board of directors of SAFA and member of Confederation of Asian & Pacific Accountants (CAPA). Locally, the Cabinet of Minister in 2014 approved the recognition of the CMA qualification on par with the chartered accounting qualification and the foreign accounting qualifications CIMA (UK) and ACCA (UK) for recruitment to the government and state corporation sectors. This will also enable the government and state corporation sector to employ CMA management accountants to solve the shortage of accountants in these organisations and to bring financial discipline. Greater recognition is given to the CMA qualification with its incorporation by an Act of Parliament in 2009 similar to chartered accountants.          
CMA Sri Lanka offers a professional qualification at an affordable cost at 1/10th the cost of foreign qualifications, flexible and easily achievable route for G.C.E. Advanced Level qualified students and those awaiting results, undergraduates and graduates as well as those in employment. The CMA management accounting programme is available via accredited tuition colleges and e-learning conducted by CMA as well as by self-study and video lectures.
CMA Council consists of senior chartered accountants including past presidents of CA Sri Lanka and SAFA, CIMA and ACCA accountants and nominated members from the Central Bank, Accounting Department of the University of Sri Jayewardenepura and CA Sri Lanka.