Evolution

The Department hosted the Global Conference of Environmental and Sustainability Management Accounting Network (EMAN) in January at Hotel Galadari for the first time in the South Asian region. Delegates from Germany, Australia, Indonesia, Korea, Japan, and India, and many local professionals and academics participated and presented papers in the Conference. A Business Forum on “Sustainability in turbulent business environments” was also held along with the conference.

The B.Sc. Accounting (Special) Degree was accredited by ACCA for another five year period.

The Department signed an agreement with CIMA under which undergraduates of B.Sc. Accounting (Special) Degree are eligible to sit the papers that are not exempted by CIMA while reading for their degree.

The Department organized a Forum on Sustainability Management Accounting for the industry professionals, to enhance the awareness on accounting aspects of sustainability. Along with this event, the Special Issue of Journal of Accounting Panorama was launched.

The Department created an Endowed KPMG Professorship in Accounting to attract senior academics employed in Sri Lanka or overseas for short stints of service in the Department.

The Department entered into an agreement with ACCA to introduce a special exemption scheme for the students, under which the final year undergraduates of B.Sc. Accounting (Special) Degree are eligible to sit the final stage of ACCA while reading for the degree.

The Department Introduced the Advanced Diploma in Computer Based Accounting (ADCBA) Program of the one year duration.

The Department organized an Employee Forum to deliberate the issues on Skill Development Program of Intern Accountants with the training providers.

The Department organized an International Conference on Trans-disciplinary Perspectives on Accounting (ICTPA) to coincide with 20th founding anniversary of the Department. Internationally renowned academics in accounting participated as plenary/guest speakers while several research papers were presented by both local and foreign researchers.

The Internship Program in Accounting and Finance was revamped with the introduction of broad based components on skill developments Program. Consequently the program was renamed as Skill Development Program of Intern Accountants.

The Department successfully completed the IRQUE Project under which development activities were carried out under eight themes bringing significant achievements to the Department.

The Department Introduced the Diploma in Computer Based Accounting (DCBA) Program of the one year duration

The Department created an Endowed Ernst and Young Professorship in Accounting to attract senior academics employed in Sri Lanka or overseas for short stints of service in the Department.

A major syllabus revision was introduced in the Department which took into consideration the latest changes and developments in the business arena with special emphasis on accounting.

The Department won a competitive grant of Rs. 79.50 mn from the World Bank, to Improve the Relevance and Quality of Undergraduate Education (IRQUE) for a four year period.

The Department published its first ever Member’s Directory of Accounting Alumni Association (AAA).

The Department shifted to its own premises which were built with the funding support of ADB.

The Department celebrated its tenth anniversary in July at the BMICH, by holding a management conference and exhibition on the theme ‘Reinventing Accounting in the New Economy’.

The Department was renamed as Department of Accounting with the restructuring program of the Faculty of Management Studies and Commerce with a major curriculum revision. Consequently, the Degree Program was renamed as B.Sc. Accounting (Special).

The Department started semester based system of conducting its academic sessions and examinations.

First batch of students were passed out who were able to secure gainful employment even before their results were released.

The first major syllabus revision was carried out which brought in wider changes in content and delivery of the Degree Program in the light of new developments in accounting.

Department received a grant of Rs. 48.50 mn from the Asian Development Bank (ADB) under which a three storey building that houses the Department and Accounting Resource Centre (ARC) – a well equipped computer laboratory and a resource centre were established. The services of foreign and local accounting and language experts were received.

B.Sc. Accountancy Degree Program (First Academic Degree in Accountancy by the University System in Sri Lanka) was commenced with sixty students.

Department of Accountancy and Financial Management was established.