CMA workshop on 'Strategic Cost Management'

The Institute of Certified Management Accountants of Australia (ICMA), 2014 Annual Workshop was held recently at the Galadari for a team of 60 senior MBA, corporate executives to help make new insights to contemporary management accounting practices.

The first module focused on Strategic Cost Management in a lean manufacturing environment, life cycle costing systems, benchmarking, activity based management and customer profitability analysis while the second module focused on triple bottom line accounting and carbonomics, strategic performance management, financial dimension of international business and pricing strategies, strategic value analysis and corporate radar and early warning systems. Professional Accountants, Masters Degree holders in Finance and candidates who have completed the Graduate Conversion Program of ICMA (Australia) were present.

The seven days of intensive sessions included lectures, presentations, videos, management games and a number of new case studies introduced this year.

The facilitator of the workshop, Prof. Janek Ratnatunga said, "We strive to bring insights to contemporary management practices to Sri Lanka. As Sri Lanka is on an upward growth trajectory, the knowledge on cutting edge management practices too are important to build senior management competencies to ensure that targets are achieved".