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Presently, Sri Lanka is considered as a gem for finance and accounting outsourcing mainly
due to its vibrant pool of accountants, who stand amongst one of the world's highest per
capita. The country's accounting education system plays a pivotal role in producing these
professionals. It is, therefore, interesting to see the development of the accounting
education system in the country. Hence, this paper investigates the history of accounting
education in Sri Lanka from the time of its ancient kingdoms (from 543 BC to 1815) and
subsequently to the British rule (1796 - 1948). The archival method was used for
collecting data. The main data sources included various documents that provided material
and discussions about the education systems of the ancient Sri Lanka (such as institutional
and author publications, sessional papers, administration reports and journal articles),
several other historical records that provided corroborative evidence [such as
Mahavansa, Atuwa Grantha (e.g. Sammohavinodani Atuwowa), Sandesha Kawya (e.g. Giro
Sandeshaya), Saddharmarathnawaliya], and the translations of inscriptions.
Despite the indications of the existence of accountancy education before the introduction
of Buddhism to the country, the evidence available to the provision of education in
general, the accounting education in particular, is very limited, After the establishment of
Buddhism in the 3rd Century BC, there are some evidences of accounting practice and
accounting education in the country. Accountancy had been one of the secular subjects,
which had been taught in Pirivenas to prepare lay students for a profession or occupation.
Existence of persons responsible for accounting in the royal palace or treasury known as
Ganaka and Poththakin [e:> provides the evidence of inclusion of accountancy
as a subject area in the higher education for laymen. It can also be identified that the
(accounting) education system of this period has been influenced by the ancient Indian
treatise, Kautilya’s Arthashastra. However, this indigenous system of education prevalent
in the ancient kingdoms diminished with the fofeign occupation of the country, During
the colonial periods, especially during the British rule, an administrative and operational
framework for the plantation companies was established. This, in turn, created a demand
for public practice in accounting, auditing, and taxation by the Sri Lankan business
organizations. Accounting related professional and technical courses (e.g. book keeping)
had been emerged to cater the job market requirements. In addition, accounting/book
keeping was formally introduced to the school curriculum during the latter part of the
British era. Even today, the accounting education system evolved in the British period, still
continues with some subsequent reforms made in the post-independence era. Hence,
the present system of accounting education in Sri Lanka has its main roots linked to the
British rule in the country.
