An Empirical Analysis of Factors Affecting the Perceived Choice of Accounting Career Path Among Accounting and Finance Undergraduates in Non-State Universities in Colombo District, Sri Lanka

Accounting remains a critical pillar of business and economic development, offering diverse professional opportunities. In Sri Lanka’s expanding higher education sector, particularly within nonstate universities, accounting and finance degrees are increasingly popular. However, many students do not ultimately pursue careers in this field, raising questions about the factors shaping their career intentions. While prior studies have primarily examined state university students, little is known about the determinants influencing undergraduates in non-state institutions. This study addresses this gap by investigating the factors affecting the perceived choice of accounting career paths among accounting and finance undergraduates in the Colombo District. Guided by Social Cognitive Career Theory, the study adopted a quantitative design with a positivist philosophy and deductive approach. Five hypotheses were developed based on existing literature, focusing on intrinsic motivation, extrinsic motivation, third-party influence, career exposure, and social values. Data was collected using a structured questionnaire that employed a five-point Likert scale. Using Roscoe’s (1975) guideline, 172 undergraduates were selected via convenience sampling. The data were analysed using multiple linear regression in SPSS. The findings revealed that intrinsic motivation, career exposure, and social values significantly influenced undergraduates’ perceived accounting career path choices. In contrast, extrinsic motivation and third-party influence were not significant predictors. These results highlight the dominant role of internal drivers and contextual factors over external rewards and social pressures in shaping students’ intentions. The study is significant in extending existing literature by focusing on non-state undergraduates, an underexplored segment in Sri Lanka. Practically, the results provide valuable insights for policymakers, educators, and professional accounting bodies in designing interventions, career guidance, and exposure programs that align with students’ motivations and values. The study contributes theoretically by extending Social Cognitive Career Theory within the context of non-state higher education in a developing economy, offering empirical evidence on how cognitive and contextual factors shape career perceptions. By identifying the critical factors that shape career intentions, the study contributes to enhancing the sustainability of the accounting profession in Sri Lanka.