CMA qualification, an avenue to rigorous business

Hiran H. SENEWIRATNE

EDUCATION: The Society of Certified Management Accountants (CMA) is a qualification that requires organisations of all sizes and types, to provide an integrating perspective to business decision-making, its sources said.

This is a Canadian qualification applying best management practices in strategic planning, finance, operations, sales and marketing, information technology, and human resources to identify new market opportunities, ensure corporate accountability, and help organizations maintain a long-term competitive advantage, its sources said. The entry qualification is G.C.E. (A/L) or higher.

CMA has unique competence in cost management, strategic performance measurement, process management, risk management assurance services, and stakeholder reporting, coupled with the ability to connect strategy with operations and anticipate customer and supplier needs.

They have a holistic view of business, able to identify issues, envision and chart solutions, and engage the appropriate measures and people within the organisation to achieve the desired results.

The qualification has three stages namely foundation level, diploma level, professional one and professional two.

At present it has more than 6500 student population while it has 1300 CMA members in the country, the sources said. The Institute is affiliated with the Open University of Sri Lanka and their Management Degree students are exempted in the first two stages.

Open University Management Degree students are entitled to such facility for the first two stages. The employment abandance is very high for qualified students and many corporate sector organisations recognise this qualification.

Leading institutes in the country including IAS, JMC and Ceylinco Business School provides tuition as well.

The Institute is also offering many scholarships out of which five scholarships for Police department, five G.L Peris scholarship for five undergraduate students, five scholarships in the name of Kingly T. Wickramaratne, the sources said.

According to CMA sources it has many employment opportunities in HSBC call centres and many more. The President of the CMA Sri Lanka Chapter is Prof. Lakshman R. Watawala.

CMAs are considered as both leaders and solid team players, which translates into a unique and effective style of management.

Unlike other accounting and business professionals, who specialise in financial reporting, auditing, theoretical applications or after-the-fact verification, the CMA is equipped to look to the future to provide real-world strategic direction, business management and leadership.

This qualification is an invaluable in meeting the diverse needs of all types of organisations.

They monitor, interpret, and communicate operating results, evaluate performance, control operations, and make decisions about the strategic direction of the organisation.

CMAs understand the business formula for delivering value to the customer, arriving at strategies for identifying, developing, marketing and evaluating a product or service throughout its entire life cycle. In short, CMAs create value, instead of just measuring it.