Professional Exams in Sri Lanka

Following professional bodies conducted examination is Sri Lanka in relating to the Accounting & Management field.

Institute of Chartered Institute of Sri Lanka (ICASL)

The Institute of Chartered Accountants of Sri Lanka is the National Professional accounting body of Sri Lanka. The institute offers the following examinations for the registered students.

• Certificate in Accounting & Business I
• Certificate in Accounting & Business II (CAB II)
• CA Professional
• Diploma in Accounting & Business -Strategic Level I
• CA Professional
• Strategic Level II
• CA Professional - Post Strategic Level

All the students should complete the practical training requirements of the ICASL. Trainees are required to complete three years of training, subject to minim of 220 technical working days per year.

The total practical training requirement is divided into two levels and it should be covered by two separate training agreements. However, both can be covered under one agreement if required.

1. Certificate Level Training – Internship 1

2. Strategic Level Training

a. Strategic Level 1 – Internship 11

b. Strategic Level 11 – Internship 111

Any student who completes the approved practical training requirements together with relevant examinations are eligible to apply for certificates awarded by the institute as well for the admission to Associate membership (ACA) of the institute.

For more information, please follow the http://www.icasrilanka.com/Students/Introduction.html.

Associate Certified Charted Accountants (ACCA)

ACCA (the Association of Chartered Certified Accountants) is the one of a global body for professional accountants. They aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. Council is the sole governing body of ACCA and therefore has a key role in ACCA affairs. Its fundamental purpose is to ensure that ACCA delivers the objectives stated in the Royal Charter.

In order to get the membership of ACCA, students should complete the following subjects.

• F1 Accountant in Business
• F2 Management Accounting
• F3 Financial Accounting
• F4 Corporate and Business Law
• F5 Performance Management
• F6 Taxation
• F7 Financial Reporting
• F8 Audit and Assurance
• F9 Financial Management
• P1 Professional Accountant
• P2 Corporate Reporting
• P3 Business Analysis
• P4 Advanced Financial Management
• P5 Advanced Performance Management
• P6 Advanced Taxation
• P7 Advanced Audit and Assurance

For more information, please follow the http://www.accaglobal.com/.

Chartered Institute of Management Accountants (CIMA)

CIMA is the world’s largest and leading professional body of management accountants. Becoming a chartered management accountant can accelerate your career and boost your salary. It is a proven path to business success. Most accounting qualifications train you for private practice, working on audit and tax issues. CIMA prepares you for a career in business.

According to the 2010 syllabus information, a student should complete the following level in order to become a member of CIMA.

· Operational

· Management

· Strategic

· Test of professional competence in management accounting (T4).

For more information, please follow the http://www.cimaglobal.com/

The Society of Certified Management Accountants of Sri Lanka (CMA Sri Lanka)

The Society of Certified Management Accountants of Sri Lanka was set up with the technical support of CMA (Canada), and Financial Sponsorship of the Canadian International Development Agency (CIDA). Students who complete the examinations with practical experience can be applied for the membership of CMA Sri Lanka.

The course of study consists of the following four stages:

1. Technician Stage ( 5 Subjects)

a. Financial Accounting Fundamentals

b. Management Accounting Fundamentals

c. Business Communication

d. Business Mathematics

e. Economics & International Business

2. Intermediate Stage

a. Financial Accounting & Reporting

b. Advanced Management Accounting

c. Managing People & Organization Management

d. Business & Corporate Law

e. Taxation

3. Professional I Stage

a. Advanced Financial Accounting & Reporting

b. Strategic Business Management

c. Operations Management & Marketing

d. Information Technology Management

4. Professional I I Stage

a. Strategic Financial Management

b. Strategic Business Management

c. Strategic Management Accounting

d. Case Study

For more information, please follow the http://cma-srilanka.org/.