Assessment of Employment Prospects of Accounting Education Students
CHAPTER ONE
Purpose of the Study
- The purpose of this study is to examine employment prospects of accounting education student in Enugu metropolis. Specifically, the purposes include:
- To determine areas of job prospects for accounting education student in Enugu metropolis.
- To determine the extent to which the skills possessed by accounting education are relevant to effective performance in the job.
- To determine the employment problems of accounting education students.
- To make valid recommendation based on the findings.
CHAPTER TWO
REVIEWED OF RELATED LITERATURE
Accounting Education and Employability Skills
Obtaining a university degree in Accountancy is one of the pathways leading to a career in the accounting and finance industry. The knowledge gained through such a formal education should prepare the students to be technically competent with the required professional skills. Accounting graduates should gain both technical and generic or soft skills through tertiary accounting education. According to International Education Standard 2 (IES2) issued by the International Accounting Education Standards Board, technical competence must be achieved by the accounting students at the end of a professional accounting education program. IES2 covers the technical competencies in using professional knowledge to accomplish a particular duty within the defined standards. Generally, accounting graduates are expected to be technically competent in the following areas: (a) Financial Accounting and Reporting (b) Management Accounting (c) Finance and Financial Management (d) Taxation (e) Audit and Assurance (f) Governance, Risk Management and Internal Control (g) Business Law and Regulations (h) Business and organizational environment (i) Economics (j) Business strategy and management
The professional skills of the accounting students are also emphasized by International Education Standard 3 (IES3). The skillsets include the following: (a) intellectual (b) interpersonal and communication, (c) personal, (d) organizational
Examples are given in IES3 to further illustrate each of the professional skillsets. One of the examples used to describe intellectual skills is the ability to assess information from different sources and perspectives via research, analysis, and integration of information. Intellectual skills refer to the ability to arrive at a conclusion based on professional judgement upon all available facts and information. In addition, accounting graduates are expected to possess interpersonal and communication skills where they are able to work in a team in achieving
the organizational goals. They should also be able to communicate clearly and precisely in professional discussion and presentation. In terms of personal skills, one should be committed to lifelong learning. Accounting graduates should have the ability to apply professional skepticism when necessary to question the credibility and reliability of the information received. Lastly, they are also expected to exercise organizational and leadership skills to influence another person to work towards the organizational goals. Even though the learning outcomes of the accounting degree programs offered by all universities across countries have to be somehow in line with the requirements of the International Accounting Education Standards Board, it is important to identify the specific skills needed by the employers from the industry. Accounting graduates equipped with such skills are generally more employable. Hence, these skills are regarded as “employability skills”. Various studies have been conducted to identify the employability skills from the perspectives of different parties. Survey studies have been done (e.g., Lim, Lee, Yap and Ling, 2016) to examine perceptions on the employability skills of accounting graduates from various parties. Employers of accounting firms, junior employees, accounting lecturers, and accounting students have been included in these studies. Generally, the studies found that accounting graduates do not possess the required employability skills desired by the employers. Examples of desirable skills include IT skills (able to use Microsoft Excel and Words), analytical skills, ability to work in a team, organizational skills, problem solving skills, business awareness, ‘real life’ experience, basic accounting skills, ethics professionalism, fraud awareness, communication skills, ability to work in teams, ability to defend views (communication, presentation and speaking skills), positive attitudes (committed, passionate, dynamic, energetic, vibrant, and self-driven), using information technology, application of leadership skills, meeting datelines, understanding group dynamics, be observant and aware, ability to act and think strategically, ability to analyze conceptualize issues, and be adaptive (Dean and Campbell, 2010; Kavanagh and Drennan, 2008; Tan and Laswad, 2018).
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain Assessment of employment prospects of accounting education students. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing an assessment of employment prospects of accounting education students
Summary
This study was on assessment of employment prospects of accounting education students. Three objectives were raised which included: To determine areas of job prospects for accounting education student in Enugu metropolis, to determine the extent to which the skills possessed by accounting education are relevant to effective performance in the job, to determine the employment problems of accounting education students and to make valid recommendation based on the findings. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from University of Uyo. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Conclusion
In conclusion, the assessment of employment prospects for accounting education students highlights a promising outlook for graduates in the field. With the increasing demand for accounting professionals, the global nature of business, and the integration of technology, accounting education equips students with the necessary skills to thrive in a competitive job market. By staying abreast of industry trends, seeking experiential learning opportunities, and continuously developing their professional skills, accounting education students can position themselves for rewarding and fulfilling careers in the ever-evolving world of accounting.
Recommendation
Based on the assessment of employment prospects for accounting education students, several recommendations can be made to enhance their chances of success in the job market:
- Stay updated with industry trends: The accounting profession is continuously evolving, with new regulations, technologies, and practices emerging. It is crucial for accounting education students to stay abreast of these changes by actively engaging in professional development activities, attending seminars or webinars, and subscribing to relevant publications. This will not only broaden their knowledge but also demonstrate their commitment to ongoing learning.
- Seek practical experience: While academic knowledge is essential, employers also value practical experience. Accounting education students should actively seek internships, co-op programs, or part-time positions in accounting firms or finance departments to gain hands-on experience. This will not only enhance their understanding of real-world accounting practices but also provide valuable networking opportunities.
- Pursue professional certifications: Professional certifications such as Certified Public Accountant (CPA) or Certified Management Accountant (CMA) can significantly enhance job prospects. Accounting education students should consider pursuing these certifications as they demonstrate a high level of competence and dedication to the profession. Additionally, certain industries or employers may require specific certifications, so it is important to research and align with the desired career path.
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