CMA 2014 Workshop to contribute new insights to contemporary management practices

Friday, 28 February 2014 04:18 - - {{hitsCtrl.values.hits}}

The Institute of Certified Management Accountants of Australia (ICMA), 2014 Annual Workshop was held from 15 to 17 February and 20 to 23 February at the Galadari Hotel for a team of sixty senior MBA, corporate executives. The program has helped to contribute new insights to contemporary management accounting practices. The first module focused on strategic cost management covering cost management in a lean manufacturing environment, life cycle costing systems, benchmarking, activity based management and customer profitability analysis while the second module focused on triple bottom line accounting and carbonomics, strategic performance management, financial dimension of international business and pricing strategies, strategic value analysis and corporate radar and early warning systems. The workshop participants included professional accountants, Masters Degree holders in finance and candidates who have completed the

Graduate Conversion Program of ICMA (Australia). The seven days of intensive sessions included lectures, presentations, videos, management games and a number of new case studies introduced this year, making it an exciting and interesting experience for the participants. The facilitator of the workshop, Prof. Janek Ratnatunga stated: “I am privileged to be associated with this workshop as we strive to bring insights to contemporary management practices to Sri Lanka. As Sri Lanka is on an upward growth trajectory, the knowledge on cutting edge management practices too are important to build senior management competencies to ensure that these targets are achieved.” Prof. Ratnatunga, PhD (Bradford), MBA, DiP M, FCA, CPA & CMA is a highly qualified academic and an experienced practitioner. He was the Dean and Head of Commerce at the University of South Australia. Previously he held the Chair in Business Accounting for 18 years at Monash University, Australia and has also held academic positions at the University of Melbourne and the University of Canberra in Australia and in the Universities of Washington, Richmond and Rhode Island in the USA. Prof. Ratnatunga, currently the editor of the Journal of Applied Management Accounting Research, has authored/co-authored 25 books on strategic cost management, entrepreneurship, financial accounting, accounting, theory and financial modelling. He has worked in the profession as a Chartered Accountant with KPMG, and is a Consultant for the World Bank, and has undertaken a major consultancy for the Australian Department of Defence in the valuation of strategic capabilities. In January 2009, he was bestowed with the Award for Impact on Management Accounting Practice by the prestigious joint American Accounting Association/AICPA (USA)/CIMA (UK) and CMA Canada. An enthusiastic participant from the Workshop, A CEO of a finance company expressing his views said: “The workshop is truly an eye opener to modern thinking in management accounting and financial management which will broaden the horizons of both finance and non-finance professionals”. ICMA Australia is a fast growing accounting body in Australia with an increasing membership in Australia, India, Malaysia, Philippines, Indonesia, Hong Kong, Lebanon, UAE and Sri Lanka. The institute’s presence in Sri Lanka goes back to 1999. ICMA Australia is an internationally acclaimed professional qualification that offers competitive advantage to both financial and non-financial professionals in ever-changing business environment today.