LCBS Dhaka & Development of Global Accounting Practices in Bangladesh

With the noble vision of producing a global standard skilled workforce to meet local industry needs and export human talent rather than import from neighboring countries LCBS Dhaka started its journey in 2007 in Ireland and in 2010 in Bangladesh.

From its inception, LCBS Dhaka has been working to promote the belief that it is not just education & skill but “Quality education & Applicable skills” is what we need to cater to materialize our vision. Our services are focused and tailor made towards the development of human capital so that they can serve with the best interest of their nation by upholding and implementing the highest standards of professionalism, promoting good governance and accountability through accomplishing the socio economic objectives of the respective countries. Global Accounting like ACCA, Management Accounting CIMA and Public Finance Accounting CIPFA  got a huge lift here in Bangladesh through LCBS Dhaka platforms and are still leading producers of the highest number of Chartered Accountants, Chartered Management Accountants and Public Finance Accountants. Same time thousands of part qualified are working in Freelancing industries and with the local industries. Skill Bangladesh initiative by LCBS Dhaka attracted International organizations, local employers and their commitment making them one step ahead than any other international skill brand .

Action taken during COVID-19 by LCBS Dhaka

LCBS Dhaka is the only professional education and training platform of the country producing best quality Financial Accountants & Management Accountants since 2007 and became the largest network for part qualified and qualified accountants in all financing & accounting domains. Introduction of “Accounting For Freelancing ” to meet digital need to continue Accounting & Finance operation digitally was a great initiative. This module consists of Accounting knowledge from CAT- Certified Accounting Technician awarded by ACCA UK, CBA- Certificate in Business Accounting awarded by CIMA UK now AICPA  and convert this knowledge to digital skills with computerized accounting packages, online packages and get used to spreadsheet and other available software. Same time employers recommended soft skills like communication skills, campus to corporate office skill, computing skills, leadership skills and negotiations skills. Hundreds of students got ready and served the local market with pride and continued their qualification for further studies. It’s one kind of Earning and Learning scheme by LCBS Dhaka during the pandemic.

Incubating 25 Accounting students for 4 months who have completed knowledge level of Accounting with all digital accounting platforms and engaging them digitally with employers for real life accounting experience was a start and result is tremendous now. Every single student developed with cloud accounting, computer based accounting, using spreadsheets and showing their skills by performing tasks given by employers without any hesitation. This incubation is for 4 months and at the end of 4 months their competency level defines them as Master of Computerized Accounting. They are ready for the local market as well as performing well with global employers. Some of them choose career freelancing and winning big jobs with most of the Freelancing Marketplace.

Current trend with Accounting Freelancing and Future indication-

Big corporations, Firms, Not for profits, Small & medium business  across the globe outsourcing Accounting, Financing and HRM jobs. We are producing small numbers compared to demand. Local industries need more than 4 lacs Accounting Technicians/Computer based accounting experts who are digitally sound and equipped with cloud accounting and other interpersonal skills by 2025. Asian skills gap by 2030is millions. The Accounting for Freelancing module developed by LCBS Dhaka covers everything you need. Millions of youths are unemployed after their graduation from Public and Private Universities. They have knowledge and need to convert the knowledge to skills. Incubation one LCBS Dhaka introduced and a module for such a small span of time could change the unemployment history of Bangladesh. Same time they can contribute to the digital economy by converting them unskilled to a digital skilled workforce. Transforming this huge number of graduates to the talent pool could reduce the skills gap in Asia and take the advantages. Awareness and willingness to engage with the digital business environment is a must. Accounting freelancing could be a game changer for Bangladesh economy if providers can produce numbers with right skills meaning digital skills for meeting the demand from local and international market. Assessment on 2030 skill gap in Asia should be recognized and prepare for it.