CMA signs MOU with My Beverages Marketing as accredited practical training partner

Monday, 8 December 2014 00:03 - - {{hitsCtrl.values.hits}}

Certified Management Accounts of Sri Lanka (CMA) and My Beverages Marketing Ltd have signed an MOU certifying My Beverages to act as an accredited practical training organisation for CMA students.

CMA Sri Lanka President Prof. Lakshman R. Watawala presents the accredited training partner certificate to My Beverages Managing Director R.S.M.L. Sarmaa, in the presence of CMA Vice President M.B. Ismail, CMA Director – Operations Sumudu Pagoda, CMA Director – Education and Examination Dr. Swineetha De Livera CMA was set up in 2000, with the technical assistance of CMA – Canada and was based on the guidelines of the international accounting bodies the Institute of Management Accountants of USA, the International Federation of Accountants (IFAC), which is the world body for Accountants and the Management Accountants of the South Asian Federation of Accountants (SAFA). CMA was incorporated by the Act of Parliament No. 23 of 2009 and this created history in the accounting world, when after 50 years since the incorporation of the Chartered Institute; a new professional Management Accounting Body was incorporated and given government recognition. CMA is now a member of the South Asian Federation of Accountants (SAFA) and a Member of International Federation of Accountants (IFAC). CMA has over 18,500 students and 2,200 members. My Beverages Marketing Ltd which started as an export company 20 years ago specialising in ‘Bottled Drinking Water’ ventured into Carbonated Soft Drinks 10 years ago with the brand name of ‘my Cola’. From 2004, they have consolidated themselves as the homegrown brand with a strong presence in all parts of the island, providing convenience to the consumer in one way of, PET Plastic food grade bottle combined with the highest quality standard and the right price being the key ingredients for them to stand strong among multinational beverage competitors. As a local Small and Medium Enterprise, holding around 5% Market Share is a remarkable achievement. With a ‘State of the Art’ manufacturing plant in Kadawatha, the company has provided direct employment to over 250 employees. my Cola brand is marching forward in its tenth year with an over eighty strong sales force and over fifty strong Island-wide distributor network. This MOU will provide CMA students an opportunity to obtain practical training in the Management Accounting and Finance field from a recognised business organisation which will give them a foundation to progress in their career, and obtain their membership. The CMA practical experience component is an essential part of the CMA program and has been developed in accordance with the International Standards of the International Federation of Accountants (IFAC), the world body for Professional Accountants operating to meet the growing demands of competitive organisations at both national and international levels.