CIMA – Chartered Institute of Management Accountants course in Sri Lanka – A quick guide
CIMA is considered as one of the most recognized Professional Qualifications in Sri Lanka. CIMA Sri Lanka operates under CIMA UK which is the global headquarters. Currently there are thousands CIMA students in Sri Lanka while 95% CIMA qualified persons are employed in business sector. Most of them hold positions as top CEOs and top class managers. Rest 5% assumed to be in final years of their undergraduate courses.
CIMA Course content
- Management Accounting Pillar
- Financial Accounting Pillar
- Business Management Pillar
Author: Kalana Tennakoon:
Kalana is a final year undergraduate of University of Sri Jayewardenepura. He passed Finalist of CImA (UK) at age of 23 in May 2009. Find out more about him on twitter (@kalanatenakoon) or http://www.facebook.com/kalana.tennakoon.
A student has to follow ten subjects i.e three subjects in each pillar upon completion of Foundation level. The overall CIMA syllabus focuses mainly on Financial Management. Basically there are five levels such as Foundation, Operational Level, Managerial Level, Strategic Level and TOP CIMA. Foundation Level is also known as CIMA Certificate in Business Accounting. It consist of five papers namely
- Fundamentals of Management Accounting- Focus on cost behavior, standard costing, control etc,.
- Fundamentals of Financial Accounting-Focus on Accounting basics and final accounts of Sole enterprise
- Fundamentals of Business Mathematics-Focus on Basic Mathematics, Probability, Forecasting etc,.
- Fundamentals of Business Economics-Focus on Market system, micro and macro economics etc,.
- Fundamentals of Ethics, Corporate governance and Business Law-Focus on Laws of contract and Employment, Ethics, Corporate governance, Company administration etc,.
A student can either follow formal tuition classes or can do self studying at home. There are standard text books published by CIMA and available at leading bookshops in Sri Lanka. The examination for foundation level is a Computer Based Examination (Online exam). They consist of several MCQs and OTQs. Students can results immediately upon completion. There are Computer Bases Assessment Centers (CBA) in all leading Tuition classes and in CIMA Sri Lanka Division, Narahenpita. Foundation Level exams can be taken during any time of year.
Who can start CIMA
CIMA student base consist of school children to graduates and also employees. The minimum entry requirement is to be more than 16 years old. However its recommended to start CIMA upon completion of GCE Ordinary Level Examination. Most of university undergraduates follow CIMA as their professional qualification. Any student can start CIMA regardless of their knowledge on this area. Majority of Engineering Undergraduates study CIMA as their secondary qualification. Graduates are also eligible for exemptions at Foundation Level.
The cost for completing CIMA dependent upon method of studying. An average student can complete CIMA within Rs 300,000/- to RS 400,000/-. Registering for CIMA can be done online with several simple steps. You can visit www.cimaglobal.com for further details.
Tuition classes for CIMA available in Colombo and other main cities. You can select a full time timetable or part time timetable depending on your occupation. Classes for each level usually scheduled for 6 months starting on December and May. CIMA exams are held twice a year under guidance of Department of Examinations, Sri Lanka. A student can complete CIMA within 2 ½ to 3 years.
Job prospects for CIMA
The conventional career goal of CIMA was Chartered Management Accountant. However sense CIMA course covers areas like HR, Marketing, IT & IS, Operational Management, Project Management and Strategic management there are plenty of job opportunities in Sri Lanka.
Contact details of CIMA Sri Lanka Division
Colombo:
356 Elvitigala Mawatha, Colombo 05
Kandy:
254 Peradeniya Road, Kandy, Sri Lanka
Tel: 00 94 (0) 11 250 3880 (Colombo) 00 94 (0) 81 222 7882 / 7883 (Kandy)
Fax: 00 94 (0) 11 250 3881 (Colombo) 00 94 (0) 81 220 3843 (Kandy)
Email: colombo@cimaglobal.com | kandy@cimaglobal.com
CIMA Tuition providers (CIMA Classes) in Sri Lanka
Federation of Chambers of Commerce and Industry of Sri Lanka – Colombo
Knowledge Base Business Studies (Pvt) Ltd – Dehiwala
Academy of Business Studies (Pvt) Ltd – Colombo
Academy of Management Education - Mount Lavina T:4510101
Achievers Lanka Business School – Colombo T:5321321
South Asian Institute of Technology and Management – Malabe
Imperial College (ICBS) – Colombo T:4515353
Mercury Institute of Management – Colombo T:2370643
AG School of Business & Computing Studies Pvt Ltd - Negombo T:031 2227970
Virtual Business School – Colombo T: 0777 666949
MIIT Education – Kandy T:081 2222876
Wisdom Business Academy (Private) Limited – Colombo T:2370995
MCS – Jaffna T:021 2226373
I know there is a strong CIMA student base and tuition community in Sri Lanka.
But in the global level you cannot match the employment prospects you get in countries such as Britain for Chartered Accountants. .
Dear Sampath,
There are plenty of jobs in UK foe CIMA qualifieds. All are with GBP five figure salaries. Please visit http://www.cimaglobal.com or any other browser.
Dear Sampath,
The survey shows the average data of CIMA qualified professionals. Visit http://www.cimaglobal.com/Documents/Jobs-docs/CIMA_Qualified_salary_survey_UK_18.08.09.pdf
Sri Lankan Chartered accountacy course is cheaper compared to CIMA. But I think CIMA is well recognized in Sri Lanka and abroad.
Yes Sri Lankan Chartered Accountancy course more focus on Financial Accounting. But CIMA focus on Financial management. CIMA qualifieds are assumed to be having a strong analytical and presentation skills compared to local Chartered.
Thanks for CIMA info. I am planning for courses after my a/l these days, Managment seems to be good option.