What is accountancy and accounting career?

Accountancy is the practice of recording, classifying, and reporting on financial transactions for a business. It is a profession that concerns itself with day-to-day operation of a company. Accountants balance the books, tracks expenses and revenue, execute pay roll, and pay the bills. Issues related to mobilizing capital, fund raising, budgeting financial projects etc. are negotiated by the finance department of the company.



Types of Accounting mainly include Financial. Management, Governmental, Tax, Forensic, Project and Sustainability Accounting.

Accounting jobs are available in all sectors of business such as advertising, banking, manufacturing, media, public service, finance consultancies etc.

Career pathway from O/L to become accountant – Study Options in Sri Lanka

1. Accounting as a subject in GCE A/L/ Or Follow Science or Arts stream

You can select Accounting as a subject in GCE Advanced Level
https://studentlanka.com/2007/12/10/subject-options-for-gce-advanced-level/

However many students who followed Advanced Level in Science stream have entered in Accounting profession without any difficulty.

2. Obtain a Professional Accounting Quantification

Many students became accountants by following courses and obtaining a professional qualification.

AAT – You can start with AAT Association of Accounting Technicians, examination after your GCE O/L examination:
https://studentlanka.com/2013/01/14/aat-quide/

CA Sri Lanka – If you have 3 Simple Passes from the G.C.E. Advance Level any stream of study, then you can follow Institute of Chartered Accountants of Sri Lanka Courses and become a Chartered Accountant.
https://studentlanka.com/2013/02/06/institute-of-chartered-accountants-of-sri-lanka-a-quick-guide/

ACCA – This gives you a British Chartered Accounting qualification.

CIMA – Another very popular option among students after A/L and those who follow degrees is to do CIMA Chartered Institute of Management Accountants course in Sri Lanka. Many students in Sri Lanka follow these courses and obtain internationally recognized British qualification.
https://studentlanka.com/2010/02/03/cima-chartered-institute-of-management-accountants-course-in-sri-lanka-a-quick-guide/

3. Degree and MBA s

As accountancy is a professional field. obtaining a professional qualification will place you academic qualification similar to a degree from a recognized university.

However National Universities in Sri Lanka (Sri Jayewardenepura, Colombo, Peradeniya, Ruhuha, Sabaragamuwa, Eastern, Rajarata, Wayamba, Jaffna) offer degree programs in Accounting under Management Faculties. However you need a good Z-score to get this free education option in Sri Lanka.

Higher Education Institutes that offer Accounting Degree Programs

MBA – After professional qualification or degree you can get MBA (Master of Business Administration). There are many national and private universities and higher education institutes offer MBA programs.
https://studentlanka.com/2010/06/15/mba-degree-programs-in-sri-lanka/

You can also read our related post on https://studentlanka.com/2010/09/10/educational-pathways-in-business-management-marketing-and-accounting/

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