CMA President’s Message
Prof. Lakshman R. Watawala
FCMA, FCA, FCMA (UK), CGMA, FCPM
We are pleased to announce the newProfessional Certified Hospitality Finance and Management Accounting Qualification (CHFMA) conducted jointly by CMA and SLITHMwhich will commence from January 2017.
The Institute of Certified Management Accountants of Sri Lanka (CMA) and Sri Lanka Institute of Tourism & Hotel Management (SLITHM)signed a Memorandum of Understanding (MOU) recognizing the need for a Professional qualification in Financeand Management Accounting for the Hospitality industry and to conduct a Joint Certification Programme termed the “Certified Hospitality Finance and Management Accountants” (“CHFMA” ) Programme.
The initiative came as a result of the suggestion made by the Chairman of National Human Resource Development Council Mr. Dinesh Weerakkody to commence a professional finance and accounting programme specializing in the hospitality industry which was expanding rapidly and needed skilled staff and managers, which was accepted by the Hon John Amaratunge Ministrer of Tourism Development & Christian Religious Affairs and to implement this programme in collaboration with SLITHM.
The CHFMA professional qualification for the hospitality industry will be conducted for all those currently employed in the hospitality industry at different levels in the finance, accounting and management accounting sector and they will be provided the opportunity to obtain a professional qualification specializing in the Hospitality Industry to develop the knowledge and skills of those in the accounting and allied fields. This will help the Hospitality industry in its rapid growth and development to build a sustainable pool of qualified accountants, audit and finance staff required for the industry.
The course syllabus consists of Foundation, Certificate, Diploma and Professional Stage qualifications and CHFMA membership requires completion of CHFMA examinations and a three-year practical experience requirement as per the Practical Training guide in the hospitality industry. The foundation Course will be for beginners, the certificate course for those in the industry, moving onto the diploma and Professional levels. The ultimate aim of this programme will be to produce specialized accounting professionals for the hospitality industry.
With the governmentsinitiative for skills development CMA has taken the initiation to join hands with the specialist in the Hospitality industry to provide a Professional Qualification for the sector. We wish to thankthe Finance and Accountancy specialists in the hospitality industry who were associated in the project and the course director Mr. Sunil Peiris who isthe Senior VP/ Sector Financial Controller Cinnamon Hotel and Resorts. We also value the support given by the Hon. John Amaratunga Minister of Tourism Development & Christian Religious Affairs, Hon. Rishad Bathiudeen Minister of Industry and Commerce, Chairman NHRDC and SLITHM, Director Education & Examinations (CMA) and their senior management who worked tirelessly to make this professional programme a reality.
We wish the CHFMA programme all success
Prof. Lakshman R. Watawala
President CMA Sri Lanka