CMA workshop on adopting environmental management accounting guidelines

Thursday, 14 August 2014 00:00 - - {{hitsCtrl.values.hits}}

The Institute of Certified Management Accountants of Sri Lanka (CMA) has organised a workshop on ‘Adopting Environmental Management Accounting’ on Tuesday 26 August from 9 a.m. to 12:30 p.m. at the Distance Learning Centre, 28/10, Malalasekara Mawatha, Colombo 7. The environment has become an important consideration for businesses as well as for all the professionals including accountants. Increasing costs, natural and industrial accidents, increasing media coverage, growing environmental regulations and environmentally conscious stakeholders are creating pressure on organisations to be environmentally sensitive and prudent.

These pressures have challenged the traditional ways in which the businesses operated. Yet, if an organisation can manage this environmental challenge effectively it will be a source for competitive advantage. Encouraged and sometimes compelled by these reasons, organisations pursue various environmental management practices. In order to support the environmental management actions, a body of accounting practices referred to as ‘Environmental Management Accounting’ (EMA) has emerged. EMA has now become a fast diffusing accounting practice, in developed and developing countries. Despite the growing importance of EMA globally, it is still limited in application in emerging economies including Sri Lanka. There are various reasons for the low level of diffusion of EMA in Sri Lanka and other emerging economies. Among them, the lack of managers’ awareness, especially among accountants is significant. Understanding this issue, CMA launched the ‘EMA Guidelines for Sri Lankan Enterprises’ in its National Conference in June 2014 and this book will be issued to the participants at the workshop. This workshop aims to provide practical insights for the Sri Lankan enterprises to adopt these EMA Guidelines. Nuwan Gunarathne – MBA (PIM), ACMA, ACMA (UK), CGMA, B.Sc. (Bus Admin), Department of Accounting, University of Sri Jayewardenepura – will share the theoretical and actual experiences in adopting EMA in this workshop for the Sri Lankan enterprises. This workshop covers areas such as the corporate environmental challenge, corporate greening, Environmental Management Accounting, EMA tools and techniques, corporate EMA strategy development stages and a practical framework for EMA adoption. This half day workshop is specially designed to meet the clients’ needs and to provide practical insights on the adoption of EMA. The workshop is intended for the management accountants, financial accountants, and financial controllers in both private and public sector enterprises. The engineers, health and safety officers, personnel in charge of CSR activities will also be benefited from the workshop. Interested other parties such as researchers, environmentalists and academics will also be gained from the workshop. Those interested to register should contact the CMA office Shanthi on 071-4705536 or email: [email protected].