Initiative to conduct professional training in cost management to make exports more competitive
The Institute of Certified Management Accountants of Sri Lanka (CMA) and the National Institute of Exports (NIOE) the training arm of the National Chamber of Exporters signed a Memorandum of Understanding (MOU) to impart professional training in cost management to enhance the competitiveness of the export industry.
The National Institute of Exports (NIOE) is the independent training entity of the National Chamber of Exporters of Sri Lanka (NCE), and the Institute of Certified Management Accountants (CMA) is a body incorporated by Parliament Act No. 23 of 2009 and is National Professional Management Accounting Institution in Sri Lanka set up with Technical Assistance from CMA Canada and are members of the International Federation of Accountants (IFAC) the global body for the accounting profession having over 3.0 M accountants and 175 members and associates in over 130 Countries, South Asian Federation of Accountants (SAFA) the South Asian Regional Accounting Body and the Confederation of Asian and Pacific Accountants (CAPA) the Regional Accounting Body for Asia and Pacific.
The Memorandum of Understanding (MOU) between the two organisations envisages the conduct of training programs for the export sector to enhance their knowledge in Management Accounting, Cost Accounting, Total Cost Management, and other techniques of Cost and Management Accounting to make export industry more competitive in the global markets and increase the exports from Sri Lanka. The collaboration will provide for the conduct of short term and long term programs, as well as seminars and workshops based on the requirements of the industry and Online courses and video lectures. They will contribute towards the development of links between Industry and Academia for the development of exports through the application of Management Accounting and Cost Accounting and promote collaborative research and industry links with professional and academia.
The collaboration is expected to make Sri Lankan exports more competitive in the global market place through the application of Management Accounting and Cost Accounting techniques in export enterprises including the SME sector and will educate exporters on costing and pricing of products and services under the guidance of CMA. The program certificates will be issued jointly by both the CMA and NIOE.