CIMA – Chartered Institute of Management Accountants course in Sri Lanka – A quick guide

Updated 2016 January:
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

The CIMA qualification consists of two parts,
1. Certificate in Business Accounting (Cert BA) and
2. Professional Qualification

The Certificate in Business Accounting (Cert BA)

The Cert BA is CIMA’s entry level accounting qualification for those with little or no accounting background. The Cert BA forms the basis of the CIMA Professional Qualification and is a valuable qualification in its own right.

On average, students take about a year to complete this level.

With it you’ll achieve a solid understanding of basic accounting, management accounting and business principles.
Skills include preparing financial reports, forecasting performance and data analysis.

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,.

The CIMA Professional Qualification

The professional qualification comprises nine separate subjects that are organised in three pillars and three levels.

The syllabus comprises three learning pillars which represent specific areas of knowledge,
• Enterprise pillar
• Performance pillar
• Financial pillar

Each learning pillar is divided into three progressive levels of achievement.
• Operational level
• Management level
• Strategic level

The three subjects within each level are assessed by on-demand objective tests. You must pass all three objective tests (or have been granted an exemption) before sitting an integrated case study exam to complete the level. These are set once every three months.

Typically you might expect to spend between three and four months studying for each of the objective test subjects followed by another six to eight weeks preparing for the integrated case study exam.

When combined with the required practical experience, the CIMA Professional Qualification becomes a powerful tool for a career in business.

CIMA New 2015 Syllabus Framework

What will you learn

Throughout your CIMA journey you will be applying the knowledge you gain on your everyday working environment.

Operational level subjects will train you in skills and knowledge a financial officer might need such as preparing financial statements or resolving budgetary issues.

At management level, the emphasis is on issues that are generally addressed at a managerial level
such as performance evaluation and stakeholder management.

By the time you reach the strategic level, you will be looking at broad strategic issues as they
affect the organisation as a whole.

Put together, the different levels provide a firm foundation for lifelong learning and career progression to a broad range of roles in finance or other areas of the business.

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 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: [email protected] | [email protected]
http://www.cimaglobal.com/Our-locations/SriLanka/

CIMA Tuition providers (CIMA Classes) in Sri Lanka

CIMA Global Learning Premium Partners

Colombo
Academy of Management Education – Tel. 5 555 460, 077 30 46 262, 077 92 13 892
Achievers Lanka Business School – Tel. 4322322, 5288900
Imperial College Colombo – Tel. 4 515 253, 077 3918 m
Wisdom Business Academy – Tel. 237 0 995- 6
Kandy
Imperial College Kandy – Tel. 0773 919 777, 081 4 950950

CIMA Global Learning Partners

Colombo
Exon College of Professional Studies (Pvt) Ltd
Tel. 0777 594 822
Mind Ventures Business Academy
Tel. 4935135
WIZMA Global Education
Tel. 077 760 4205
Virtual Business School (On line Tuition Provider)
www.virtual.lk I [email protected]

Dehiwala
Mercury CIMA Plus
Tel.2 710 371

Kandy
Achievers Kandy Pvt.Ltd
Tel. 0814 940 904

Galle
Apex Business Academy (Pvt) Ltd
Tel. 091 2 232 755

Matara
Apex Business Academy (Pvt) Ltd
Tel. 0412 229 555,0716 219 219

Jaffna
MCS Campus
Tel. 021 222 6373, 021 222 4070, 0772 395 385
Spectra Skills
Tel. 0775 748 0 95
Wisdom Business Academy
Tel. 0212 220 727

Ampara
Institute of Global Knowledge(Pvt)Ltd.
Tel. 0772 364 076

Kurunegala
Genius School of Professional Studies (Pvt) Ltd
Tel. 077 37 61 999

Related Courses:
Online degrees in Sri Lanka
External degrees in Sri Lanka
Educational Loans by Sri Lankan banks
MBA degree programs
National Institute of Business Management-NIBM
Sri Lanka Law College
Open university of Sri Lanka

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.

Comments

comments