SLITHM/CMA: Building financial skills for hospitality industry

Celebrating outstanding achievements and new skillsets gained, the Certified Hospitality Finance and Management Accountants (CHFMA) professional qualification jointly offered by CHFMA and SLITHM held its Certificate Awarding Ceremony and New Class Inauguration ceremony recently. CHFMA Foundation and Certificate Level students gathered at the auditorium of the Sri Lanka Institute of Tourism and Hotel Management to be felicitated and recognised for the excellent results they obtained.

Minister of Tourism Development John Amaratunga together with National Human Resource Development Council of Sri Lanka Chairman Dinesh Weerakkody were instrumental in introducing the CHFMA professional qualification. 

Speaking about the success of the program, Minister Amaratunga noted that it was important for SLITHM as the country’s pioneer hospitality trainer to innovate and adapt to the changing requirements of the industry. “Today the professional capabilities of the traditional hotelier have been redefined and hoteliers are expected to be well equipped to handle the all-important financial aspect. It also makes sense for SLITHM to collaborate with CMA in offering this qualification which is value addition for both the hotelier as well as the institution. Therefore I congratulate the students who have successfully obtained this valuable qualification,” the Minister said. 

The Minister praised CMA Sri Lanka President Prof. Lakshman R. Watawala and SLITHM Chairman Sunil Dissanayake for acting on his proposal and making the program a reality in a short period of time.

As management accountants, their skills have been harnessed to develop businesses in a variety of industries across the world. Preparation for the specific needs of operating with any given field, however, tends to be a matter of on-the-job learning and wisdom passed down from predecessors. 

Jointly offered by the Institute of Certified Management Accountants of Sri Lanka (CMA) and Sri Lanka Institute of Tourism and Hotel Management (SLITHM), the CHFMA qualification supports Sri Lankan professionals by pre-empting that process, giving them the skills they need to excel in finance and management accounting in the hospitality sector, even before they have spent years in the workplace. As a result, CHFMA-qualified management accountants are well-equipped to handle the challenges they will face in the hospitality sector.

Chief Guest at the ceremony, Rohan Karr, Executive Vice President, John Keells Holdings – Cinnamon Hotels and Resorts, in his address, stated that the hospitality industry demands a fascination with the sector, and deep and comprehensive knowledge, in order to establish a successful career. He reminded those present of the value of a professional qualification in Hospitality Finance and Management Accounting to hoteliers. 

Speaking on the lack of professional qualifications providing skills to support operations in the hospitality industry, he underscored the importance of obtaining a professional qualification in the specific area of finance and management accounting for the hospitality industry. He noted that it would allow one to promote and endorse oneself, positioning oneself well for employment in an industry which is attractive and in demand. Further, he pointed out, that on successful completion of the CHFMA professional qualification, “you can arrive smarter wherever your future takes you”.

Recognising and supporting the newly-qualified professionals at the event were CMA Sri Lanka President Prof. Lakshman R. Watawala, CMA Sri Lanka Vice President Hennayake Bandara, CMA Sri Lanka CEO Kanishka Jayasinghe, SLITHM Chairman Sunil Dissanayake, Consultant Kosala Dissanayake, CHFMA Course Director Sunil Pieris, CMA Senior Director – Examinations Dr. Swineetha De. Livera, as well as the Management and Non-Management Committee Members of CMA and CHFMA. CHFMA Management Committee congratulated those who successfully completed the CHFMA Foundational and Certificate levels on their achievement and emphasised the significance of the CHFMA program in maintaining high standards in their careers and for their organisations.