Accounting Education towards Sustainable Labour Markets in Sri Lanka

Abstract

The quality of Accounting Education determines the quality of Professionals in the field of Accounting. During last few decades with the effect of globalization, many technological advancements occurred in every industry. It directly affects the job profile of sustainable labor market of Accounting field where work becomes challenging and complex to achieve. Babike [1] proved that as Accounting Academics have become more important in the re-contextualization of the new global. The purpose of this article is to identify which qualifications are preferred by the employers out of Professional Accounting Qualification and Academic Accounting Qualification in Sri Lankan sustainable labor market. The present study adopted interpretation in philosophy and the inductive approach. The data collection was based on primary data and was collected through online interview method. Researchers selected convenience sampling method since more than 80% of listed companies in Colombo Stock Exchange are in Western Province. Based on the convenience sampling technique researchers have selected ten listed companies and interview ten Finance Managers in respective companies. Thematic Analysis technique was used to analyze the data by using the NVivo software application. The findings of the present study suggest that many employers prefer Professional Accounting Qualifications rather than Academic Accounting Qualifications. The main reason for the choice is candidates with Professional Accounting Qualifications are more capable in handling tasks and the assigned job role due to the training offered through Professional Accounting Qualification when compared to Academic Accounting Qualifications. As an implication the respected authorities in Sri Lankan educational sector can implement Accounting trainings component for Academic Accounting Education. This may also be useful to future researchers to identify the perceptions of the employers.