A visionary leader who transformed accounting education in Sri Lanka
Nobody disputes the fact that Sri Lankan Universities have produced leading academics, world class thinkers and intellectuals. We also find some top business leaders and professionals who happened to be university graduates. However, it is rarely claimed that a Sri Lankan university degree program has been able to produce globally accepted employable graduates. . This exceptional status has been reached by the B. Sc. Accounting ( Special) Degree Pro g ram of f e red by t he Department of Accounting, Faculty of Management Studies and Commerce of University of Sri Jayewardenepura.
After 25 years of its existence, the time is opportune for us to reflect on the journey led by a man changing the lives of thousands of students who had followed this program through his sheer determination, vision and the uncompromised dedication to student wellbeing. This visionary leader is Prof. M W Wickremarachchi. He is con- sidered as the founder father of the Department of Accounting, which pioneered the academic accounting education in Sri Lankan university system.
With the introduction of B. Sc. Accounting ( Special) Degree Program in the year 1992, Department of Accounting of University of Sri Jayewardenepura, revolutionized the academic accounting education in the Sri Lankan university system. This was at a time that the country’s accounting education was limited to a privileged group of the society and also dominated by few professional accounting bodies such as CIMA and CA Sri Lanka. Prof. Wickramarachchi’s vision paved the way to introduce this four- year Degree Program with the guiding philosophy of producing “employable graduates” who would meet the aspirations of the employment market.
B. Sc. Accounting ( Special) Degree Program was designed with a curriculum structure to suit the latest developments in the accounting profession encompassing a twoyear compulsory Internship Program, Information Technology integrated accounting courses and business communication as a key subject area. Further, the Degree Program is conducted entirely in English medium to meet the local and global needs of accounting profession.. By incorporating these novel features, this Degree Program has challenged the universities’ traditional obsession of producing graduates, who are rich in their academic intellect, but lacking in skills required to be employable by the modern business organizations.
The B. Sc. Accounting ( Special) Degree Program was a phenomenal success from its inception. As an outcome, graduates of this Degree Program are now holding top and middle level managerial positions in the corporate sector and public sector organisations both locally and overseas. Further, the majority of these graduates have simultaneously gained accreditations from professional accounting bodies - ACCA (UK), CA Sri Lanka, CIMA ( UK), CPA ( Australia), ICAANZ, ICAEW, IIA (USA) and ICMA.
From the beginning, the academic staff led by Professor Wickramarachchi, developed the curriculum of the Accounting Degree Program by studying the accounting education models of USA, Canada, UK, Singapore, Australia and New Zealand. The curriculum of the Accounting Degree Program consists of core accounting and finance subjects as well as allied subjects such as Business Strategy, Economics, Quantitative Techniques, Information Technology, and Business Communication. . Graduates of the Accounting Degree Program armed with knowledge, skills and abilities pertaining to a broad spectrum of subject areas are , capable of facing ever increasing challenges of the accounting and wider business world.
With these credentials, the B.Sc. Accounting ( Special) Degree Program has been well received by the corporates and public sectors both locally and globally.. Perhaps the most evident statistic about the success of this program is that, a large number of its graduates are working and living overseas. These graduates have been able to add value to large organizations of the western world with their skills and fundamentals learned through the program. They have brought pride and glory to the University. Prof. Wickramarachchi and the staff of the Department of Accounting must be feeling proud of their effort to produce world class professionals and good citizens.
Over the years, popularity of the Degree Program has been clearly demonstrated by the overwhelming demand for the admission to the Program. Accreditation of the Degree Program by international professional accounting bodies such as ACCA, CIMA, CPA Australia and I CA E Wis a testimony to the quality of graduates produced over they ears.r,t. With the competitive position that it has achieved over the years, the Department of Accounting is working to realise the mission of “to be the premier centre of excellence in accounting education, research and industry engagement in South Asia”, under its core values: wisdom; intellectual rigour; professionalism; truthfulness and ethical conduct; equality; and helpfulness and compassion.
Having successfully implemented the B. Sc. Accounting ( Special) Degree, now the Department of Accounting has also introduced a Master’s Degree in Professional Accounting to non- accounting graduates to provide the opportunity for them to pursue a career in the accounting. Further, the Department is conducting two diploma program – Diploma in Computer Based Accounting (DCBA) and Advanced Diploma in Computer Based Accounting ( ADCBA) for business executives and school leavers, who have failed to gain admission to university system based on their G. C. E. Advanced Level results.
In this eventful history of the Department of Accounting of University of Sri Jayewardenepura, Professor Wickramarachchi served as the father figure and guide to the alumni, current students and academic staff. He has always showed a broad viewpoint and encouraged them to think out of box. Prof Wickramarachchi is reaching 75th year in 2018 whilst the Degree Program has completed 25 years of existence. Hence, the time perfect to pay tribute to Professor M W Wickramarachchi, who has rendered a yeoman service to the accounting education in Sri Lanka.
Members of Accounting Alumni, and former lecturers of Department of Accounting who are currently living in Australia are organising yet another memorable event to pay gratitude to Emeritus Professor M.W. Wickramarachchi, the founding father of Department of Accounting. This event has been organised to celebrate the success of this pioneering program pay tribute to Prof Wickramarachchi, the man who made it all possible.
The event will be held in Melbourne, Australia on 10th June 2018.
Major milestones in life of Emeritus Professor M.W.Wickramarachchi’s career
Prof. M W Wickramarachchi obtained the Bachelor of Arts honors degree in Economics from the Vidyodaya University of Ceylon in 1965.
Master of Economics in Accountancy and Financial Management degree was obtained from the University of New England in Australia with the financial assistance provided by the Asian Development Bank.
Doctor of Philosophy in Commerce degree was obtained from the DBA Marathwada University of Maharashtra in India by using the funds provided by the SAREC program.
Became a Fellow Member of the Institute of Chartered Accountants of Sri Lanka, the Institute of Public Finance and Development Accounting of Sri Lanka and the Institute of Certified Management Accountants of Sri Lanka.
Retired as a Professor of Accounting from the University of Sri Jayewardenepura in 2008 at the age of 65. However, the Department of Accountancy & Financial Management used his service as an ‘Ernst & Young Professor’ for three more years using the funds provided by the Ernst & Young, International Frim of Public Accountants. .
After the retirement, the University of Sri Jayewardenepura gave him the title of Emeritus Professor in Accounting, which could be used throughout his life.
In 2009, he was conferred with a Doctor of Science honorary degree by the University of Sri Jayewardenepura,
In 2011, the Sabaragamuwa University conferred him another Doctor of Science honorary degree.
In 2015, he was inducted into the “Hall of Fame” by the Institute of Chartered Accountants of Sri Lanka,
In 2017, he was inducted into the “Global Management Accounting Hall of Fame” by the Institute of Certified Management Accountants of Australia.