Abstract
Owing to the dramatic changes in the business environment in the twenty-first century, the demands for skills and the nature of teaching, learning, and assessment in every discipline are evolving. This is particularly important in the management discipline which faces growing criticism globally for not being able to produce graduates who meet the expectations of the business world. Although this is the general situation in many developing countries including Sri Lanka, some Sri Lankan academic accounting degree programs stand as an exemption by adopting novel education models such as outcome-based education (OBE). These models not only provide insights into management education in general but also set directions for teacher-education practices in Sri Lanka, where there are many issues pertaining to the quality of education. This chapter thus aims to examine how the successful university level accounting education could guide teacher education in Sri Lanka. Accordingly, it discusses the lessons for teacher education (for teacher-educators and student teachers) based on a case study concerned with the adoption of OBE in an accounting degree program of a public university in Sri Lanka. This chapter provides an overview of the school-level teacher-education system in Sri Lanka while describing OBE in Management and Accounting education including the OBE approach of the selected case study accounting degree program. It also covers the lessons for teacher-educators that can be learnt from the successful adoption and implementation of the OBE approach of this degree program while discussing challenges and the way forward.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
In Sri Lanka GCE Advanced Level in the Commerce stream can be considered as school-level management education. Students in the Commerce stream mostly follow three subjects: Accountancy, Business Studies, and Economics. They have the option of selecting either Business Studies or Business Statistics and Economics or Information Technology. In addition, subjects offered such as Business and Accounting and Entrepreneurship Studies at the GCE Ordinary Level can also be regarded as part of school level management education.
- 2.
Founded in 1977, IFAC is the apex body of the global accounting profession dedicated to serving the public interest. IFAC has over 175 members and associates in more than 130 countries, representing almost 3 million accountants in various organizations (IFAC, 2018).
- 3.
SBS describes the nature of study and the academic standards expected of graduates in specific subject areas, and in respect of particular qualifications. It provides a picture of what graduates in a particular subject might reasonably be expected to know, do and understand at the end of their program of study (Quality Assurance Agency [QAA], 2016).
- 4.
SBS cognitive abilities and related general skills refer to the expected skills and abilities in the critical evaluation of facts, independent learning, analysis, numeracy, information and communications technology, communication, and working with others.
- 5.
The students are admitted based on the z-scores obtained at the G.C.E. (Advanced Level) Examination conducted by the Department of Examinations in Sri Lanka.
- 6.
These two endowment funds have been received from EY and KPMG, two of the big four public accounting firms.
- 7.
Senior teachers of schools are appointed as Sectional Heads for each grade or subject area.
- 8.
The IASs on different subject areas operate in zones under the provincial education ministries. Senior teachers in subject areas are appointed as IASs.
- 9.
Pracademic placements enable academics (or student teachers) to serve in an actual work setting (i.e. to become a real practitioners) so that they can integrate academic teaching and research with communities of practice to achieve a range of positive outcomes (Posner, 2009).
References
AACSB. (2018). Eligibility procedures and accreditation standards for accounting accreditation. Tampa, FL: AACSB.
Aturupane, H., Savchenko, Y., Shojo, M., & Larsen, K. (2014). Sri Lanka: Investment in human capital (South Asia Human Development Unit Discussion Paper Series No. 69). Washington, DC: World Bank.
Department of Accounting (DA). (2018). Self-evaluation report for program review of the quality assurance program. Sri Lanka: University of Sri Jayewardenepura.
D’Souza, J., & Moore, T. D. (2017). Education in Sri Lanka. Retrieved on November 12, 2018 from https://wenr.wes.org/2017/08/education-in-sri-lanka.
Dundar, H., Millot, B., Riboud, M., Shojo, M., Aturupane, H., Goyal, S., & Raju, D. (2017). Sri Lanka education sector assessment: Achievements, challenges, and policy options. Directions in development—Human development. Washington, DC: World Bank.
Dundar, H., Millot, B., Savchenko, Y., Piyasiri, T. A., & Aturupane, H. (2014). Building the Skills for economic growth and competitiveness in Sri Lanka. Washington, DC: World Bank.
Economist. (2015). Skills needed: Addressing South Asia’s deficit of technical and soft skills: Analyzing the gap in Afghanistan, Bangladesh, India, Nepal, Pakistan and Sri Lanka. Retrieved on February 2, 2019 from https://www.britishcouncil.org/sites/default/files/skills_gap_jan2015_print.pdf.
Faculty of Management Studies and Commerce (FMSC). (2017). Employability survey for 2017. Colombo: FMSC, University of Sri Jayewardenepura.
Gunarathne, N., & Alahakoon, Y. (2017). Integrating futures thinking through transdisciplinarity into sustainability accounting education: Perspectives from Sri Lanka. In P. B. Corcoran, J. P. Weakland, & A. E. J. Wals (Eds.), Envisioning futures for environmental and sustainability education. Wageningen: Wageningen Academic.
Gunarathne, A. D. N., & Senaratne, S. (2018). Country readiness in adopting integrated reporting: A diamond theory approach from an Asian Pacific economy. In K. H. Lee & S. Schaltegger (Eds.), Accounting for sustainability: Asia Pacific perspectives. Cham: Springer.
Gunarathne, A. D. N., Senaratne, S., & Senanayake, S. (2019, in press). Outcome-based education in accounting: The case of an accountancy degree program in Sri Lanka. Journal of Economic and Administrative Sciences.
International Federation of Accountants (IFAC). (2017). Handbook of international education pronouncements. New York: IFAC.
International Federation of Accountants (IFAC). (2018). About IFAC. Retrieved on December 8, 2019 from https://www.ifac.org/about-ifac.
Kearney, A. T. (2012). Competitive benchmarking: Sri Lanka knowledge services. Seoul, Korea: A.T. Kearney.
Lawson, R. A., Blocher, E. J., Brewer, P. C, Cokins, G., Sorensen, J. E., Stout, D. E., … Wouters, M. J. F. (2014). Focusing accounting curricula on students’ long-run careers: Recommendations for an integrated competency-based framework for accounting education. Issues in Accounting Education, 29(2), 295–317.
Longmore, A. L., Grant, G., & Golnaraghi, G. (2018). Closing the 21st century knowledge gap: Reconceptualizing teaching and learning to transform business education. Journal of Transformative Education,16(3), 197–219.
Posner, P. L. (2009). The pracademic: An agenda for re-engaging practitioners and academics. Public Budgeting and Finance,29(1), 12–26.
Quality Assurance Agency (QAA). (2016). Subject benchmark statement: Accounting. Gloucester, UK: Quality Assurance Agency.
Senaratne, S., & Gunarathne, A. D. N. (2010). A case of an accountancy study programme in Sri Lanka to improve relevance and quality of undergraduate education: A new dimension on institutional view. Paper presented, 1st International Conference on Business and Information, University of Kelaniya, Sri Lanka.
Senaratne, S., & Gunarathne, A. D. N. (2017). Excellence perspective for management education from a global accountants’ hub in Asia. In N. Baporikar (Ed.), Management education for global leadership. Hershey, PA: IGI Global.
Sethunga, P., Wijesundera, S., Kalamany, T., & Karunanayake, S. (2016). Study on the professional development of teachers and teacher educators in Sri Lanka. Sri Jayawardenepura Kotte, Sri Lanka: National Education Commission.
SLASSCOM. (2015). Sri Lankan IT/BPM industry 2014 review. Colombo: SLASSCOM.
Spady, W. (1994). Outcome-based education: Critical issues and answers. Arlington: American Association of School Administrators.
Tam, M. (2014). Outcomes-based approach to quality assessment and curriculum improvement in higher education. Quality Assurance in Education,22(2), 158–168.
Thomas, H., & Cornuel, E. (2012). Business schools in transition? Issues of impact, legitimacy, capabilities and re-invention. Journal of Management Development,31(4), 329–335.
UNESCO. (1990). Innovations and initiatives in teacher education in Asia and the Pacific region. Bangkok: UNESCO Principal Regional Office for Asia and the Pacific.
University Grants Commission (UGC). (2015). Sri Lanka qualifications framework (SLQF). Colombo: UGC.
World Bank. (2006). Implementation completion report—Sri Lanka teacher education and teacher deployment. Washington, DC: World Bank.
World Bank. (2015). Report on the observance of standards and codes, accounting and auditing—Sri Lanka. Washington, DC: World Bank.
Zhao, J., & Ferran, C. (2016). Business school accreditation in the changing global marketplace: A comparative study of the agencies and their competitive strategies. Journal of International Education in Business,9(1), 52–69.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2019 The Author(s)
About this chapter
Cite this chapter
Senaratne, S., Gunarathne, A.D.N. (2019). Outcome-Based Education (OBE) in Accounting in Sri Lanka: Insights for Teacher Education. In: Setty, R., Iyengar, R., Witenstein, M.A., Byker, E.J., Kidwai, H. (eds) Teaching and Teacher Education. South Asian Education Policy, Research, and Practice. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-26879-4_2
Download citation
DOI: https://doi.org/10.1007/978-3-030-26879-4_2
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-26878-7
Online ISBN: 978-3-030-26879-4
eBook Packages: EducationEducation (R0)