CMA students get training opportunities in banks and other leading companies Certified Management Accountants (CMA) Sri Lanka has initiated a program to ensure that all its students receive quality practical training in leading business entities in the country. Three years of practical training is mandatory for those who pass all four levels of CMA and submit the Integrative Case Study, the final level of the examination to become a ‘Member of CMA Sri Lanka’. CMA provides a flexible training policy with practical training undertaken either while sitting the exams or after completion of exams. CMA does not consider practical training only as a requirement to obtain the membership but also as an essential aspect of making a CMA accountant ready for the market with hands on training where the student gets the opportunity to face and solve in real life accounting problems. Therefore, CMA is of the opinion that its students should spend the compulsory training period not in some obscure entity but in reputed business organizations. Training Partner Agreements CMA, reputed as the national management accounting body in Sri Lanka considers that it is their responsibility to make necessary arrangements for students to receive quality training in well establishedand properly run organizations. With a view to achieve this, CMA Sri Lanka has entered into Training Partnership agreements with a number of leading business entities including several banks. So far, CMA has signed training partnerships with leading entrepreneurs including John Keels Group, Commercial Bank, National Development Bank, Sampath Bank, Bartleets, Arpico Finance, Richard Peiris and company PLC,Delmege Forsyth, Commercial Credit, Browns Group, Fonterra, AMW ,Citizen Development Bank, L B Finance, Ceylon Grain elevators, Maliban Biscuits , Lanka Puthra Development Bank, andDimo. Simultaneous Achievements CMA says that the Training Partners program is a dual purpose concept which would earn two achievements for students within a single period of time. Possessing only the theory knowledge wouldn’t permit one to obtain middle level executive position in the current job market context even though professionally qualified. The proper practical training will help them gain valuable working experience while completing mandatory practical training. During the training, CMA students get the opportunity to put their skills to test in live and vibrant working environment. In addition, training in a recognized company will expose students to formal work environments. They will get an insight to a working place and have the opportunity to develop contacts that might prove useful in time to come. Though these training opportunities are not necessarily expected to lead to employment it would significantly improve their marketability in the job market. Ample Opportunities Result of these Training Partners program hitherto has proved extremely satisfactory. There is a high demand for CMA trainees from partnering companies. If students inform the willingness to find a training opportunity, CMA will direct him or her to available opportunities in a Training Partner company. Therefore CMA not only finds a place of training for students but also provide them an opportunity to join a leading company or organization in the private or public sector. Qualification needed to CMA enroll CMA has unique features that hold the door open for countless Sri Lankan youth who would otherwise be sadly separated from their professional aspirations. Comprehending the fact that majority of our youth who drop out of the education system after Advanced Level cannot earn excellent results due to the highly competitive nature of the exam and not due to their incompetence; the CMA of Sri Lanka is providing them with the opportunity to follow CMA course after sitting for A/L examination in any stream. Students can register with CMA as soon as they finish the Advance Level examination. Recognition of CMA Qualification Quality of the course has made it possible to win recognition to CMA qualification nationally and internationally. Association of Chartered Accountants ACCA (UK),CPA (Australia),CGA(Canada)and Institute of Financial Accountants (UK) ,Institute of Management Accountants IMA (USA) ,offer considerable exemptions for CMA qualification. Another important fact is that CMA qualification holders are eligible to get their qualification assessed by Certified Practicing Accountants (CPA) in Australia. CPA is one of the main authorized bodies to assess accounting qualifications with regard to migration to Australia and New Zealand. Further, Deakin University in Melbourne Australia gives ten credit points equivalent to two and a half semesters of relevant degree program for CMA passed finalists and members. Certified Management Accountants –CMA British Colombia,Canada and Certified Management Accountants –CMA Ontario ,Canada give exemptions and offer facilities for CMA qualification. CMA has signed Memorandum of Understanding with Management Accounting Bodies of India, Pakistan, Bangladesh and Malaysian Institute of Accountants recognize the professional qualifications and permit any member of one Institute admitted as a member of the other Institute. CMA passed finalists is exempted from two entire levels if they wish to follow the Bachelor of Management Studies at Open University of Sri Lanka. Once they completed CMA level 3, they can directly sit for final 2 levels of BMS degree at Open University. Concurrent with the CMA Professional qualification, they can obtain the university degree as well. Once they completed CMAand getting membership with relevant work experience they can register for Masters in Business Administration (MBA) with Post Graduate Management Institute (PIM) soon after completing CMA and obtaining membership
Posted on: Fri, 26 Sep 2014 16:54:19 +0000
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