What Skills and Attributes Does an Accounting Graduate Need? Evidence

REPORT ONWHAT SKILLS AND ATTRIBUTES DOES AN ACCOUNTING GRADUATE

NEED? EVIDENCE FROM STUDENT PERCEPTIONS AND EMPLOYER EXPECTATION

Patuakhali Science and Technology UniversityDumki, Patuakhali

SUBMITTED TO

M. Zakir Hosen Lecturer

Department of Accounting and Information SystemFaculty of Business Administration and Management

Patuakhali Science and Technology University

SUBMITTED BY

Group: 05 (Liberty) Level: 04; Semester: 01

Faculty of Business Administration and Management

01 Md. Mofizer Rahaman Member 12 0067102 Dipayan Chakma Member 17 0067603 K.M. Assaduzzaman Member 06 0066504 Tanjia Sultana Member 10 0066905 Azmery Khanam Member 20 0067906 Shofiq Uddin Khan Member 23 00682

Auditing Course code: AIS-416

Date of Submission: May 28, 2009


AuditingCourse code: AIS-416

Date of Submission: May 28, 2009


WHAT SKILLS AND ATTRIBUTES DOES AN ACCOUNTING GRADUATE NEED? EVIDENCE FROM STUDENT PERCEPTIONS AND EMPLOYEER

EXPECTATION

LETTER OF TRANSMITTAL

Date: May 28, 2009

M. Zakir Hosen LecturerDepartment of Accounting and Information SystemFaculty of Business Administration and ManagementPatuakhali Science and Technology University

Subject: Submission Term Paper on “What skills and attributes does an accounting graduate need? Evidence from student perceptions and employer expectation.”

Dear Sir,

Here we are submitting our term paper on “What skills and attributes does an accounting graduate need? Evidence from student perceptions and employer expectation” prescribed by you on your course Auditing. For this purpose, we have gone through internet, different books, articles, and journals, interview of students and employees of the respective organizations for the relevant information of the assigned topic.

Please call us for any further information at your convenient time and place.

Yours truly,

Group 05 (Liberty)BBALevel- IV Semester- ISession: 2004-2005 Patuakhali Science and Technology University

LETTER OF AUTHORIZATION

Date: May 28, 2009

M. Zakir Hosen LecturerDepartment of Accounting and Information SystemFaculty of Business Administration and ManagementPatuakhali Science and Technology University

Subject: Declaration regarding the validity of the report.

Dear Sir,

This is our truthful declaration that the “What skills and attributes does an accounting graduate need? Evidence from student perceptions and employer expectation” we have prepared is not a copy of any report previously made by any group.

We also express our honest confirmation in support of the fact that the said “Report” has neither been used before to fulfill any other course related purpose nor it will be submitted to any other person or authority in future.

Yours truly,

Group 05 (liberty)BBALevel-IV Semester-ISession: 2004-2005Patuakhali Science and Technology University

ACKNOWLEDGEMENT

During the period of surveying the students of faculty of Business administration and Management of Patuakhali Science and technology University and some accounting related professionals, we had gained altruistic assistance from a number of persons including our honorable and respectable course teacher M. Zakir Hosen, Lecturer, Department of Accounting and Information System, Faculty of Business Administration and Management, Patuakhali Science and Technology University.

We are thankful to the respective students and also the personnel of different organization because they showed their highest degree of temperament in answering our persistent questions. Such if their friendly cooperation and kindness did not even allow us to strive for a single moment for.

Last of all, thanks to every members of this group. They put their spontaneous endeavors and best effort to complete the report successfully.

Table of contents-

CHAPTER 1: INTRODUCTION OBJECTIVE OF THE STUDY

01

LIMITATIONS OF THE STUDY

01

CHAPTER 2: ABSTRACT 02 INTRODUCTION 03-05 LITERATURE REVIEW 06 DEVELOPMENT OF RESEARCH QUESTIONS 07-15

CHAPTER 3: METHODOLOGY 16

CHAPTER 4: RESULTS AND DISCUSSION

Table One and Discussion of Table One 17-19

Table Two and Discussion of Table Two 20-21

Table Three and Discussion of Table Three 21-22

Table Four and Discussion of Table Four 22-23

CHAPTER 5: FINDINGS

24

LIMITATIONS

25

CONCLUSION 26

REFERENCE

27

APPENDIX 28-30

EXECUTIVE SUMMERY

This report is an assigned job as partial fulfillment of course requirement by honorable course teacher M. Zakir Hosen, Lecturer, Department of Accounting and Information System, Faculty of Business Administration and Management,Patuakhali Science and Technology University.

The view of this report is to find out the “What skills and attributes does an accounting graduate need?”It is found that accounting task is very much important and the accounting graduate needs some special skills and attributes Communication, technical skills, personal traits and practicality were all identified as important aspects for a graduate. With these qualities in hand, graduates can be assured that they are employable. However, the awareness of these Graduate Attributes is essential as it helps potential graduates to assess themselves and make improvements.

CHAPTER 1: INTRODUCTION

OBJECTIVE OF THE STUDY

Accounting graduates need some specific and nonspecific skills and attributes. These skills and attributes very much important not only for the accounting graduates but also for the employees. We have identified some objectives of the study. The objectives are as follows-

To identify the skills of an accounting graduate need. To identify the attributes and the accounting graduate need. To know about the students’ perception on the skills and attributes an accounting graduate needs. To know about the employers expectations on the skills and attributes an accounting graduate needs.To identify the difference between the students’ expectations and the employer’s actual condition relates to the skills and attributes of an accounting graduate.To identify the present condition of skills and attributes of an accounting graduates

LIMITATIONS OF THE STUDY

There was limitation of time. Due to shortage of time, the study could not include a large number of samples. Again to get satisfactory and reliable data sufficient time was needed. But the data were collected and analyzed within very short time.The data which have been collected may not be free from error.Necessary data were collected from a limited area covering small numbers of samples. Result obtained from 20 samples may be inadequate.

CHAPTER 2: ABSTRACT, INTRODUCTION, LITERATURE REVIEW, DEVELOPMENT OF RESEARCH QUESTIONS

ABSTRACT

Educators must keep pace with a changing business world, continuous curriculum

revision, and a challenging student body. Professional organizations have examined

the needs of the accounting profession with an eye toward ensuring that an

accounting education prepares students for professional success. Skills and

attributes are central to intellectual interaction between the providers and the

recipients of information. The importance of accounting starts with the gathering

and processing of information and ends with the communication of processed

information. In the last decade the development of appropriate skills and attributes

in students set to enter the accounting profession has been the subject of many

debates. Accounting academics have a leading role to play in this process. This

study investigates what attributes and skills accounting academics perceive should

be developed during an undergraduate course, and compares this to skills and

attributes that they believe are being developed. Results reveal that there is a large

discrepancy between the two. Reasons why this might be are discussed and insight

into issues accounting educators must address if they are to deliver graduates with

the skills and attributes required for a career in the accountancy profession now

and in the future are highlighted. This paper examines the communication skills and

attributes, decision making skills, personal skills, portfolio management skills,

computer software skills, and other skills and attributes which employers,

academics and graduate accountants consider necessary to the newly graduated

accountant. It also identifies and considers the differences in perception which

occur between these groups and suggests solutions to the gap. This study confirms

findings from previous research that new graduate accountants experience skills

and attributes-related problems in early employment. However, the paper

highlights the need for the reconsideration of an emphasis on skills in the

accounting curriculum, a role which arises from the very nature of accounting as the

processing and communication of information.

Key words: education of accountant; key skills and attributes; future of accounting graduates; working area of accounting graduates; student perceptions; employer perceptions.

INTRODUCTION

In the last decade, the development of skills and attributes in students set to enter the accounting profession has been the subject of many debates. This change is driven by several factors including the diversity of the student body, technological and economic change and external pressures from sources such as employers, governments and professional bodies. Given this long history it is interesting that we are still talking about the importance of these skills, graduates’ lack of them and how best to teach and promote them. The call for accounting graduates to be equipped with a broader range of non-technical skills in addition to the necessary technical skills is not recent. A survey of employers’ expectations of accounting graduates derived from classified job advertisements in the USA in 1993 identified that after professional accounting qualifications (57%), accounting positions called for communication skills (15%), organization skills (7%) and interpersonal skills (5%). In a study involving accounting academics found evidence of recognition by academics of the growing importance of developing skills in addition to those of a strictly technical. Accounting educators alter their curriculum to produce accounting graduates with a broader set of skills and attributes, encompassing more than purely technical accounting expertise. The call for accounting academics to re-examine seriously the mission of university accounting education and its interface with the needs of society and the accounting profession (not necessarily one and the same) was again enunciated. Due to globalization, technological innovation, and other fast-paced changes, there is a need for a

broader set of transferable skills and content knowledge than in the past. It is argued in the education literature that the general confusion over the generic skill construct and over the identification of what are the important generic skills extends to academic teaching staff. The challenge for accounting educators is to bring the coherent development of these generic skills into the curriculum design with a sequential focus comparable to that applied to the teaching of discipline technical skills. Prior studies of the integration of professional skills into business courses have identified the importance of the meaningful integration of generic skills into the curriculum by matching particular skills to assessment tasks in appropriate subjects. However, practitihiss have traditionally encouraged an entrenched technical approach which provides them with graduates that can instantly turn to profitable activities. Both universities and practitihiss must change their perspective away from the short-term and technical and more towards the long-term and adaptability. Academics have a role to play in the evolution of the accounting profession by defining ‘a body of knowledge more suited to the realities of the marketplace, to the needs of the decision makers, and to the future prospects of both. It is time to acknowledge ‘that the objective should be to prepare students to become professional accountants, not be professional accountants at the time of entry to the profession’. The curriculum should focus on the process of learning, not just teaching answers and they should be taught to identify and solve unstructured problems, learn by doing, work in groups, and learn to use technology effectively, such as databases for researching issues. Academics must listen to the needs expressed by the profession and evaluate those, keeping in mind the needs of society as a whole. The formative education of accountants is now recognized as important. This study is part of a larger research project designed to highlight those professional skills and attributes developed in accounting programs offered by tertiary institutions. In particular, this study examines the perceptions of accounting academics about the skills and attributes they consider important to the careers of their students and the emphasis being placed on developing these skills in the programs and courses they teach. The study also examines the relationship between academics and practitihiss and highlights factors that are impacting on change in accounting education from the perspective of accounting academics.

The role and purpose of a university education

The goals of a university education can be seen as liberal, utilitarian, or some combination of the two. Fundamental to the differences between liberal and utilitarian views of education are beliefs about the nature of knowledge and the reasons for acquiring it. A strictly liberal view of education, founded on the ideals of nineteenth century scholars, holds that university learning is about acquiring and appreciating ‘theoretical, disciplinary, formal, foundational and general sable’ knowledge, in a learning environment that is independent of the demands of the economy or the workplace. In this way, argue that ‘universities have always had a commitment to ensure graduates develop broad based, generic skills such as “critical thinking”, “problem solving”, “analytic capacity” and so forth’. In contrast to this, a strongly utilitarian view of education holds that learning is about acquiring and applying ‘practical, interdisciplinary, informal, applied and contextual’ knowledge, in preparation for and response to the demands of the workplace, and as a cornerstone of economic growth. The reality is that while universities have always tended to juggle liberal and utilitarian ideals, the balance has shifted in recent decades towards ‘vocationalism’.

Perspectives on what students should learn The trend towards vocationalism as one dimension of the changing nature of higher education provides a backdrop for examining different perspectives on what students need to, can, or should learn in a university degree. In this discussion it will be seen that while institutions, students, workplaces and university teachers are subject to external systemic forces, at some level they also participate in co-constructing the systems in which they are situated. Universities are situated within in the broader educational policy environment, which in turn is shaped by larger forces of economic, political and cultural globalization. Policy, at the level of institution and beyond it, can be seen as acting ‘as a mediating device between the new meanings of globalization and the imperatives of institutional adaptation and change’. A number of policy discourses – corporatization, commercialization, and internationalization – cooperate in this mediation. As well as shaping the management of universities, each of these discourses serves to frame institutional perspectives on what students should learn there is a need to ensure that graduates have the generic skills desired by employers such as analysis, communication, team-work and leadership skills.

LITERATURE REVIEW

Some argue that if accounting graduates require professional skills they need to develop them while studying at university and that educators of future professional accountants should be committed to developing the relevant attributes identified as desirable for the professional practice of accounting (Bedford, 1986; AECC, 1990). Donovan (2005, p. 446) suggested that ‘the strongest message that I can bring before one is to plead for stronger and more effective co-operation between academics and educators on the one hand and accountancy practitihiss on the other. I use the term ‘accounting practitihiss’ in the widest possible way to indicate all of those outside academia who are working in the field whether this be public practice, industry, commerce or the public sector.” Many writers have reinforced the view that oral and written communication skills are considered to be the two most important skills (Clark, 1990; Nelson et al, 1996; Deppe et al., 1991; Novin & Tucker, 1993). However, Mangum (1996) indicated that poor communication skills were among the top two greatest shortcomings of job candidates reported by employers. This was supported by Borzi and Mills 2001 who discovered a significant level of communication apprehension in upper level accounting students suggesting that changes to the manner in which this skill in particular is developed within the curriculum need to be addressed. In a study involving accounting academics Watty et al (1998) found evidence of recognition by academics of the growing importance of developing skills in addition to those of a strictly technical nature. Other studies have argued that accounting and business students must develop more than technical skills to succeed (Aiken, Martin, & Paolillo, 1994; Deppe, Sonderegger, Stice, Clark & Streuling, 1991). Albrecht and Sack (2000), Herring and Williams (2000), Needles and Powers (1990) and Zeff (1989), all recommended abandoning a wholly procedural (technical) approach to financial accounting. Hunton (2002) argues that, since many traditional accounting tasks dealing with recording and processing of accounting transactions can be reliably automated, an accountant’s worth is now reflected in higher-order critical-thinking skills. Elliott and Jacobson (2002) suggest that accountants need education in complementary bodies of knowledge such as organisational behaviour, issues in strategic management

and measurement and analytical skills. Johnson & Johnson (1995) suggest that successful accountants in today’s business environment must possess a different skill set including interpersonal and communication skills, intellectual and creative problem- solving skills.

DEVELOPMENT OF RESEARCH QUESTIONS

What does an Accountant do?What do Accounting & Finance graduates do?Do I need an accountant or accounting software?How accountants help for monitoring the performance of large high profil investment? How accountants help in the analysis for decision making?What are the Job Duties of an Account Executive?What Personal Skills or Qualities are needed to become an Accountant?Who should I talk to about investment advice?

Research question-01: What does an Accountant\Auditor do?

Accountants do many things. Accountants prepare financial Statements and assist with long term financial planning for both individuals and businesses. They manage the systems that track income, assets, expenditures and debt, and they are often the “go-to” person for companies wanting to expand their business operations or borrow money.

The Accountant is the person who not only knows how much money the organization has in the bank, they can also tell one how much money other people owe the company, how much debt is being carried and the value of all his equipment and intellectual property. Because Accountants know the total costs associated with running a business, they are also the person who can tell one at what price his product will generate a profit.

http://career.qandas.com/jobs/what-personal-skills-or-qualities-are-needed-to-become-an-accoun.html


Whether some one is curious about what an auditor does, or if one’s like to know what it takes to become an auditor, he has come to the right place. Auditors can work in a wide variety of settings. He sees auditors employed by private business, corporations, and financial companies. Auditors are also employed by both state and federal government agencies.

An auditor’s job is to insure the integrity of financial data. The duties of an auditor include researching, preparing, analyzing, and compiling financial data for various clients. An auditor working for a private business may review a client’s banking and other financial statements, such as tax returns, to verify that they have been correctly prepared and appropriately reported as required by the law. It is important that the auditor be able to give an unbiased evaluation of a client’s records.

An internal auditor is someone hired as an employee by a company. The task of an internal auditor is to insure the accuracy of their company’s internal records as well as scrutinize the company’s financial records for any possible mishandling or fraud.

They got to do more than like numbers - they got to love them – if one want to be an auditor. An auditor must have excellent analytical skills and great attention to detail. They must be proficient in accounting and auditing computer software. They must keep abreast of any changes in law that will affect how their clients must report financial information. Auditors should also possess a high standard of professional integrity as decisions are implemented on the basis of their statements and service.

Research question-02: What do Accounting & Finance graduates do?

Accounting and Finance in the job

In 2004/5, 96% of both undergraduate and postgraduate leavers from the Department of Accounting and Finance were in employment, completing further study or taking time out just six months after graduation.

The top employment sectors for Accounting and Finance leavers were:

banking accountancy and taxation , and

business and management consultancy.

Find out more about undergraduate and postgraduate careers six months after graduation.

National destinations

Nationally, 78% of accountancy graduates in the UK were solely in employment six months after graduation, with 25% combining work with further study and 7.5% solely completing further study.

While a career in accountancy is an obvious route for graduates from this discipline, the range of transferable skills acquired makes an accounting and finance degree highly desirable to a wide range of employers.

Employability skills

Studying within the Accounting and Finance department one will have the opportunity to develop specific subject knowledge alongside a set of highly valuable and transferable employability skills, including:

Business and commercial awareness: a first-rate understanding of

business procedure and the nature and functionality of organizations and

the commercial world

Strong numerical skills: the ability to understand, manipulate and interpret

complex numerical and statistical data

Advanced analytical thinking and problem-solving skills: applying a

methodical approach to analyze information critically, assessing all aspects

of a situation and evaluating possible solutions.

Organizational skills: learning to think logically, pay attention to detail

and organize his time and work efficiently.

Excellent communications skills: enabling one to present complex data

verbally and in writing.

Higher EducationInstitutions

Higher EducationInstitutions

GraduateGraduate

Experience andextra-curricular

activity

Employability

Recruitmentprocedures

Employer

Employer

EmploymentEmployment

Employabilitydevelopmentopportunities

http://www.lse.ac.uk/collections/graduateDestinations/accountingAndFinance/postgraduatecareers.htm

http://www.lse.ac.uk/collections/graduateDestinations/accountingAndFinance/undergraduatecareers.htm

Research question-03: Do I need an accountant or accounting software?

Accounting is the process of collecting, summarizing and analyzing the financial data of his business. Every business needs do keep on top of their accounts to ensure proper management of revenues and expenses. Failure to do so could cause his business to fail.There are two ways of keeping accounts for his business, one is enlist the help of an accountant and the other is to buy some accounting software and manage the accounts his self. Lots of people are worried about accounts and tax and would rather pay for an accountant to do all the work for them, however this might suit some people but not everyone. With hiring an accountant this will be quite costly and the cost will depend on the size of his business and the amount of financial data it generate. If one are just starting up a business one could collect all of the information and hire an accountant once a year. Most accountants work on an hourly basis so depending on how long it take them to work out his accounts will depend on how much one have to pay them. If one keep all receipts and invoices in date order this could keep his accountant fees to a minimum.Another option is to invest in good accounting software. One do not need to have any knowledge about accounting as most good software is very easy to use with simple steps that anyone can follow. More and more business are using accounting software as the price of an Accountant can be quite steep where as accounting software is a one of payment. There are lots of different types of accounting software for small and larger business and for lots of different types of businesses. Some accounting software can work for all size businesses with modules that one can add as his business grows and his accounting needs grow. Some of the many benefits of having accounting software are:

Saves timeSaves money

Fig 1: Employability

100% AccuracyUp to date accounts always availableQuick access to information

They are just a few of the reason why accounting software is best option for any business. Accounting software will make his business management much better, much more efficient and easier. One will be able to access the up to date data with a simple click of the mouse giving one the competitive edge that all business need to have in this day and age.

Choosing the right software is a very critical. One should always do his research before one buy any accounting software. With the internet it is not a problem as one can find reviews, websites and talk to users of software to find the best one for his particular business. We would talk to many different users and read many different reviews and then weigh up the benefits of each. Once one has chosen the right one then his business can grow and expand without any worries about finances. The software will free one time up so one can get on with his job.

Research question-04: How accountants help for monitoring the performance of large high profile investment?

Use his forensic accounting skillsGreat supportive team environmentGet into large scale investing

Have one prepared annual accounts for multiple businesses? Have one experienced the investment risks of large projects or property? This is his opportunity to join a high profile, cashed up organization at an early stage of growth and be part of a small very professional team with large opportunities ahead.

Accountants are responsible for:

Performance monitoring. Reporting on existing assets. Reviewing financial models and assumptions. Assisting with documentation and portfolio reviews. Due diligence and research. Liaise with external advisors.

Accountants have:

Experience preparing accounting statements. Financial interpretation and analysis skills. An understanding of long-term projects and the associated risks. Strong knowledge of accounting/tax treatments of debt/equity investments. Strong Excel Skills. Commercial expertise and judgment. Excellent planning and responding skills. High level numeracy skills. Highly developed interpersonal, oral and written communication skill.

Accounting qualifications will be very highly regarded.

Research question-05: How accountants help in the analysis for decision making?

Analysis for decision making

When we prepare a set of financial statements for a client, we know it's likely those financial statements will be used by some interested outside party to evaluate the client's business. Such questions as:

Did they make a profit?

Did debts increase from last year?

Did owners' equity change?

Are important and can be answered by the four basic statements. These statements are only the beginning, however, to the process of gathering information on which many business decisions will be made.

Research question-06: What are the Job Duties of an Account Executive?

An account is responsible for keeping financial records for a company or a business. These records were traditionally kept in journals or ledgers called “books,” giving bookkeepers their name. Bookkeepers are different from accountants, as they have less formal training. The job duties of a bookkeeper

include keeping records of every financial transaction of a business, including payments made, category of payments, and money taken in.

A bookkeeper must be able to balance the books, making sure that all income and money spent is accounted for. Some bookkeepers freelance, contracting with one or more companies. Others are employed by a specific company. Bookkeepers must be meticulous and honest, paying close attention to details.

Research question-07: What Personal Skills or Qualities are needed to become an Accountant?

Although most accounting positions require a bachelor’s degree; some employers prefer one have his master’s degree in accounting. (Bookkeepers and accounting clerks may be eligible for junior accounting positions in some situations.) In addition to a bachelor’s or master’s degree, many accountants choose to obtain certification in order to become a Certified Public Accountant (CPA).

If any one considering a career in accounting, he should have an aptitude for mathematics and be able to analyze and interpret figures. He needs good communication skills to be able to clearly communicate information to clients or employers. He should be able to understand and utilize various computer software accounting programs.

One will need to be willing to receive continued training while in the profession as tax laws are constantly changing. Because accountants often work with sensitive financial information for businesses or individuals it is important that as an accountant he have a high standard of integrity.

Curtin’s graduate attributes

Brief description

1. Apply discipline knowledge, principles and concepts

Apply discipline knowledge, understand its theoretical underpinnings, and ways of thinking; Extend the boundaries of knowledge through research.

2. Think Apply logical and rational processes to analyze

critically, creatively and reflectively

the components of an issue; Think creatively to generate innovative solutions.

3. Access, evaluate and synthesize information;

Decide what information is needed and where it might be found using appropriate technologies; Make valid judgments and synthesize information from a range of sources.

4. Communicate effectively

Communicate in ways appropriate to the discipline, audience and purpose

5. Use technologies appropriately

Use appropriate and emerging technologies recognizing their advantages and limitations.

6. Use lifelong learning skills

Use a range of learning strategies; Take responsibility for one’s own learning and development; Sustain intellectual curiosity; know how to continue to learn as a graduate.

7. Recognize and apply international perspectives

Think globally and consider issues from a variety of perspectives; Apply international standards and practices within a discipline or professional area.

8. Demonstrate cultural awareness and understanding

Respect individual human rights; Recognize the importance of cultural diversity particularly the perspective of indigenous; Value diversity of language.

9. Apply professional skills

Work independently and in teams; Demonstrate leadership, professional behavior and ethical practices

Figure 2: Curtin Graduates Attributes

Research question-08: Who should I talk to about investment advice?

There are many different types of investments, each with varying degrees of risk and potential payoff. When seeking investment advice, it is best to consult an experienced and licensed financial advisor. There are several types of investment advisors, including financial planners, stock brokers, and investment advisors. Many beginning investors find working with a financial planner to be the best option. Financial planners often specialize in helping one figure out how to structure his current investments so that one can reach his long-term investing and retirement income goals. Every one should exercise caution when selecting a financial advisor. He probably didn’t choose his doctor by opening the phone book, closing his eyes, and pointing. He probably asked his friends and family for recommendations. The same holds true when it comes to choosing a financial advisor. The people who know one best are likely be the best source of guidance to a financial advisor who will work well with one. The financial advisor one chooses must be someone that one is comfortable with and who listens to his concerns about investing. When meeting with a prospective investment advisor, be honest about his investing goals and financial situation. Pay attention to whether or not the advisor really listens to one. Does the financial professional explain things clearly and in terms that one understands? If not, keep looking until one find a financial advisor that does pay attention and offer clear explanations. Proper communication is a necessity when it comes to cultivating a relationship with an investment advisor.

Skills of accountant

Interpersonal and team-working skills

Communication skills

Ability to learn new skills

Problem solving and analytical skills

Leadership skills and/or potentialAcademic

achievement

Extra-curricular activities

Self Motivated

Fig 3: Skills of accountant

In addition to finding and working with a personal investment advisor, one may want to do some investment research on his own. It is certainly beneficial to learn everything one can about investing.

CHAPTER 3: METHODOLOGY

Sample We conducted a study involving data collection from the students of faculty of Business Administration and Management in Patuakhali Science and Technology University and five accounting related professional people in different organizations. Of the 20 surveys which were taken randomly with a face to face communication and e-mail with the help of questionnaire.

Data Collection Data collection involved administration of a survey. The survey consisted of 3 sections: Section 1 asked academics to rate on a scale ranging from 1 (Strongly Agree) to 5 (Strongly Disagree) statements about aspects of business/accounting education and student populations in the university. Section 2 requested information about the relationship between accounting/business education and practice and factors impacting on change in accounting/business education. Section 3 required academics to rate 16 specific skills/attributes as listed in Table 2 and 3 on a scale ranging from considered important to extent delivered in relation to importance to the future careers of their students.

CHAPTER 4: RESULTS AND DISCUSSION Student perceptions about the value and relevance of accounting degrees

Mean scores for statements about the value and relevance of accounting education in the student own universities are included in the table one. Here we have discussed about five relevant questions to formulate and gather data. The five questions are –1. Intend to undertake postgraduate studies (MBA) 2. CA is more preferable than doing MBA3. A core accounting major in strength of any business 4. Undertaking a dual degree academic (BBA, MBA) and professional degree (CA/ACCA) is very beneficial 5. Accounting and business education in Bangladesh today is keeping up what it actually occurring in the business environment For the correct evaluation we have divided the whole five questions in to five categories, and give scores for each category. Category ScoreStrongly disagree 1Disagree 2Partially agree 3Agree 4Strongly agree 5For the first questions we have got the mean of the score is 4.5; so the student perception is, they are close to strongly agree to “intend to undertake postgraduate studies (MBA).” Here the standard deviation is 1.32.For the second question we have got the mean of the score is 3.4; so here CA is more preferable than doing MBA, and this statement is Partially agreed by the student. And the standard deviation is 1.21.For the third question’s, students partially agree or close to agree that “a core accounting major in strength of any business” is needed. Here the mean value is 3.8 and the standard deviation is 1.37.For the fourth question, Undertaking a dual degree academic (BBA, MBA) and professional degree (CA/ACCA) is very beneficial; the students closely agree with this statement because here the mean value is 3.87 and the standard deviation is 0.78.For the fifth questions, “Accounting and business education in Bangladesh today is keeping up what it actually occurring in the business environment” students also think so. Because here the mean is 4.01 and the standard deviation is 0.50.

Table 1: Students perception about the value and relevance of accounting degrees

Questions Mean SD

1.Intend to undertake postgraduate studies (MBA) 4.5 1.32

2. CA is more preferable than doing MBA 3.4 1.21

3. A core accounting major in strength of any business 3.8 1.37

4. Undertaking a dual degree academic (BBA, MBA) and professional degree (CA/ACCA) is very beneficial

3.87 0.78

5. Accounting and business education in Bangladesh today is keeping up what it actually occurring in the business environment

4.01 0.50

Mean = ; Standard deviation

Chart: Student’s perception about the value and relevance of accounting degrees (Mean)

Table 2: Student’s perceptions about the skills and attributes of an accounting graduateSkills and Attributes Considered

important Extent delivered/ development

Differences between column 1 and 2

Self Motivated 2.57 2.01 0.56

Professional Attitude 2.63 1.96 0.7

Oral Communication 2.41 1.68 0.73

Decision Making 2.26 2 0.26

Computer Literacy 2.43 2.04 0.39

Problem Solving 2.87 2.6 0.27

Critical Thinking 2.37 2.07 0.30

Analytical Skills 2.53 2.01 0.52

Teamwork 2.27 2.23 0.04

Written Communication 2.89 2.80 0.09

Business Awareness 2.91 2.91 0.00

Basic Accounting Skills 2.65 2.60 0.05

Ethics 2.78 2.02 0.76

Interpersonal Skills 2.34 2.24 0.10

Continuous Learning 2.59 2.50 0.09

Accounting software knowledge 2.45 2.20 0.25

No priority=1, priority=2, top priority=3Discussion of Table Two In table two we have discussed, gathered and valued data about the skills and attributes of an accounting graduate in respect of students’ perception. Here we consider about 16 skills and attributes of an accounting graduate. Here we have divide the whole data in to three parts. The first part is the Considered important, second part is the Extent delivered/ development and the third part is the Differences between Considered important and Extent delivered/ development. From our tabulation we have come to know that there are deviations between the Considered important and Extent delivered/ development. Only some skills and attributes have insignificant deviation or no deviation between Considered important and Extent delivered/ development. They are teamwork, written communication, business awareness, interpersonal skills, and continuous learning. Here we have found the highest deviation in ethics. Because, we know that most of the organizations are not ethically 100% right, and the lowest deviation or no

deviation is in business awareness. Because in this modern competitive business world, each and every business organizations are very much conscious about their business activity.

Table 3: Employer perceptions about the skills and attributes of an accounting graduateSkills and Attributes Considered

important (mean)

Self Motivated 2.43

Professional Attitude 2.60

Oral Communication 2.38

Decision Making 2.40

Computer Literacy 2.55

Problem Solving 2.92

Critical Thinking 2.32

Analytical Skills 2.68

Teamwork 2.35

Written Communication 2.90

Business Awareness 2.98

Basic Accounting Skills 2.82

Ethics 2.01

Interpersonal Skills 2.52

Continuous Learning 2.78

Accounting software knowledge 2.65

Description of Table ThreeThe table 3 is mainly for the employer’s perception about the skills and attributes of the accounting graduate. Here from the tabulation we have valued the actual situation regarding skills and attributes. Here we only calculate the mean.

Table 4: Ranking and comparison between employers and students expectations and perceptions

Skills and Attributes Ranking

Employers Students

Self Motivated 11 8

Professional Attitude 8 6

Oral Communication 13 12

Decision Making 12 16

Computer Literacy 9 11

Problem Solving 2 3

Critical Thinking 15 13

Analytical Skills 6 9

Teamwork 14 15

Written Communication 3 2

Business Awareness 1 1

Basic Accounting Skills 4 5

Ethics 16 4

Interpersonal Skills 10 14

Continuous Learning 5 7

Accounting software knowledge 7 10

Table 4: Discussion (Ranking)Table four is the raking table. Here we give rank to the different skills and attributes of an accounting graduate. This ranking is based on the ranking (mean) of student’s perception and employer’s actual condition. From our table four we have found some deviations about the ranking between the students and the employers. On the basis of the students perception business awareness lies on the rank one as well as according to the employer actual condition it is also in the rank

one. But each and every skills and attributes are in the same rank. Some of them are insignificant and some they are significant, of them the variability in the ranking ethics is noticeable. Though ethics is very much important in any business but major organizations are failed to fulfill this thing. This table makes us sure that students are more ethical than the others or their thinking is more ethical.

CHAPTER 5: FINDINGS, LIMITATIONS, CONCLUSION, REFERENCE

FINDINGS 1. According to the students perceptions most of the students are

closely strongly agreed to achieve post graduate degree (MBA).2. Students are in a dilemma weather to take or whether to be

chartered accountant. Some of them think to be a chartered accountant is essential, others think that it is not essential.

3. Many students think that core accounting major strengthens their performance in the business field.

4. Students think that dual degree is very much in beneficiary in the business field.

5. Accounting and business education is now growing up in Bangladesh.

6. There is significant difference of skills and attributes between the considered and extent according to the student’s perception.

7. Found the highest deviation is in the ethical behavior.8. The raking of skills and attributes are not same according to the

students and according to the employers. 9. The ranking have some deviation and the major deviation in the

ethics.10. Business awareness is very much important for any organizations

or any entrepreneurs and we find that there is no deviation between the students and the employers.

LIMITATIONS

Because our observations were limited to a relatively small sample we must be

cautious in interpreting our findings and in suggesting their generalisability. As a

means of data collection, questionnaire response rates may be affected by negative

or apathetic attitudes towards questionnaires particularly in large organizations.

While sampling was random, in an attempt to be representative, it is not claimed

that these views are indicative of the views of all accounting academics. It should

also be noted that the present study was based on self-report measures. Self-report

measures can be affected by leniency bias. Self-report measures may be subject to

leniency and range restriction than other measures. The use of self-report data is

justified on the basis that the focus of this study was to allow individuals to

express their view of about a subject that was of importance to them all. Given the

aforementioned limitations there are some potential rival explanations to the

findings that cannot be ruled out. The present findings cannot therefore be

considered definitive. Future research could examine whether the findings in this

study are generalisable to other educational settings within and outside Australia.

In addition, the population for this study was drawn from accounting academic

staff. The study could be replicated to include staff from other academic areas of

business courses to enable comparisons to be drawn.

CONCLUSION To be successful in careers, accounting graduates need skills and abilities that go beyond accounting technical knowledge. They include communication skills, analytical skills, and interpersonal skills. Accounting graduates are expected to be able to receive and send information, identify and solve unstructured problems in unfamiliar settings, and exercise judgment. To be a good communicator they have to become effective readers, writers, speakers, and listeners. Other desirable skills include the ability to work in groups and serve as a leader when appropriate. Some believe that accounting graduates need more college education due to the recent changes in the business environment. Corporate executives believe that entry-level accountants are out of sync with the modern times. Among the skills entry-level accountants must have the practical experience, a broad understanding

of the real world events, social and communication skills. It is critically important for the accounting programs to incorporate, in their curriculum, instructions designed to improve students’ non-technical skills. Undergraduate and graduate accounting programs across the country began a wide range of curriculum development activities aimed to improving students’ job preparations by placing more emphasis on teaching non-technical skills. What a student needs to, or indeed, can, learn beyond disciplinary content in a university degree, and how and why they should learn it, are issues with practical implications for those charged with the responsibility of facilitating their learning. The questions of what they need to learn and why, have a range of possible answers when examined from different perspectives, taking into account institutional and workplace expectations and students’ and employers views on the role and purpose of a university education. How learning for the workplace might be accommodated within a university degree, and more specifically, the relationship between disciplinary learning, generic graduate attributes and professional practice, raises another set of questions about the nature of knowledge and the nature of learning.

REFERENCE

Albrecht, W.S. and R.J. Sack, 2000, Accounting Education: Charting the Course through a Perilous, Accounting Education Series, 16, 1-72.

Barrie S. 2004, A research-based approach to generic graduate attributes policy, Higher Education Research and Development, 23, (3), 261-275.

Bath, D., Smith, c., Stein S., & Swann, R. 2004, Beyond mapping and embedding graduate attributes: Bringing together quality assurance and action learning to create a validated and living curriculum, Higher Education Research and Development, 23, (3), 313-328.

Boyce, G., S. Williams, A. Kelly, and H. Yee, 2001, Fostering deep and elaborative learning and generic (soft) skill development: The strategic use of case studies in accounting education, Accounting Education 10(1), 37-60.

Braun, N.M., 2004, Critical Thinking in the Business Curriculum, Journal of Education for Business, Mar/Apr, 78 (4), 232-236.

CPA Australia & The Institute of Chartered Accountants in Australia (2005), Accreditation Guidelines for Universities, May 2005, available at http://www.icaa.org.au/upload/download/Accreditation guidelines may 2005.PDF

DeLange, P., B. Jackling, and A. Gut (2006). , Accounting Graduates’ Perceptions of Skills Emphasis in Australian Undergraduate Accounting Courses: An Investigation from 2 Victorian Universities, Accounting and Finance, 46.,365-386.

Donovan, C. (2005). The Benefits of Academic/Practitioner Collaboration, Accounting Education: an international journal, Vol. 14, No. 4, 445-452.

Gammie, B., E. Gammie, and E. Cargill, (2002). Personal skills development in the accounting curriculum, Accounting Education 11(1), 63-78.

Jones, A. and S. Sin, 2003, Generic Skills in Accounting, competencies for students and graduates. Prentice Hall, Frenchs Forest (NSW).

APPENDIX: 1

Department of Accounting and Information System

Faculty of Business Administration and Management

Patuakhali Science and Technology University

Dumki, Patuakhali.

An Interview Schedule

Sample No: Sample type:

Name : ………………………………………………….………………………..

Village/Road No:…………….……..…….…… Union :…………………………...…

Upazila : …………………….……………. District: …………….………………

Contact No :…………………………………….…………………………

1. Sex :……………………….………………….

2. Age : …………….……………………..…………. year

3.Family size :…………………….……….………….……...

person

4. Occupation :…………….…………………………..…...

………

5. Name of the organization :…………………….……………………….

……...Tk.

6.Educational qualification :…………………………………………...

…………

1. What does an Accountant do?2. What do Accounting & Finance graduates do?3. Do I need an accountant or accounting software?4. How accountants help for monitoring the performance of large high profile

investment?

5. How accountants help in the analysis for decision making?6. What are the Job Duties of an Account Executive?7. What Personal Skills or Qualities are needed to become an Accountant?8. Who should I talk to about investment advice?

Table: Used by the Students only

Student Perceptions Strongly Disagree

Disagree Partially Agree

Agree Strongly Agree

1. Intend to undertake postgraduate studies (MBA)


2. CA is more preferable than doing MBA

3. A core accounting major is strength of any business

4. Undertaking a dual degree academic (BBA, MBA) and professional degree (CA/ACCA) is very beneficial

5. Accounting and business education in Bangladesh today is keeping up what it actually occurring in the business environment

Table: Used by the Students only(skills and attributes)

Skills Considered Important Extent DevelopedNo

PriorityPriority Top

PriorityNo

PriorityPriority Top

Priority

Self Motivated

Professional Attitude

Oral CommunicationDecision Making

Computer LiteracyProblem SolvingCritical ThinkingAnalytical Skills

Teamwork

Written Communication

Business AwarenessBasic Accounting Skills

Ethics

Interpersonal Skills

Continuous Learning

Table: Used by the Professionals only (skills and attributes)Skills Considered Important

No Priority Priority Top Priority

Self Motivated

Professional Attitude

Oral Communication

Decision MakingComputer Literacy

Problem SolvingCritical Thinking

Analytical SkillsTeamwork

Written CommunicationBusiness Awareness

Basic Accounting SkillsEthics


Continuous Learning

Accounting software knowledge

APPENDIX: 2Calculation of Students perception about the value and relevance

of accounting degrees

Sample no. Question 1 Question 2 Question 3 Question 4 Question 501 5 2 1 4 402 5 1 3 4 403 1 5 5 5 404 4 5 5 5 3

05 4 5 5 4 506 3 4 5 5 407 5 2 4 5 508 4 5 5 5 309 3 4 3 4 210 5 2 3 4 311 4 5 5 5 412 5 4 5 5 513 3 2 1 3 514 3 4 5 4 315 5 1 2 4 4

ε 63 51 58 59 61

X 4.5 3.4 3.8 3.87 4.01δ 1.32 1.21 1.37 0.78 0.50

Calculation of Student’s perceptions about the skills and attributes of an accounting graduate

Sample no. 01

02 03 04 05 06 07 08 09 10 11 12 13 14 15 XSelf Motivated Considered 3 3 3 2 3 3 3 3 3 2 3 3 3 3 2 2.57

Extent 3 3 3 1 3 3 3 3 3 1 3 3 3 3 1 2.01Professional

AttitudeConsidered 3 3 3 2 3 3 3 3 3 2 3 3 3 3 2 2.63

Extent 3 2 3 2 2 3 2 3 2 2 2 3 2 3 2 1.96Oral

Communication

Considered 2 2 2 3 2 2 2 2 2 3 2 2 2 2 3 2.41Extent 1 2 1 2 2 1 2 1 2 2 2 1 2 1 2 1.68

Decision Making

Considered 3 3 3 2 3 3 3 3 3 2 3 3 3 3 2 2.26Extent 2 2 2 1 2 2 2 2 2 1 2 2 2 2 1 2

Computer Literacy


Problem Solving


Critical Thinking


Analytical Skills


Teamwork Considered 3 3 3 2 3 3 3 3 3 2 3 3 3 3 2 2.27Extent 2 1 2 1 1 2 1 2 1 1 1 2 1 2 1 2.23

Written Communicatio

n


Business Awareness


Basic Accounting

Skills


Ethics Considered 2 3 2 3 3 2 3 2 3 3 3 2 3 2 3 2.78Extent 1 2 1 3 2 1 2 1 2 3 2 1 2 1 3 2.02



Continuous Learning


Accounting software

knowledge


Calculation of Employers expectations about the skills and attributes of an accounting graduate

Sample no. 01 02 03 04 05 XSelf Motivated Considered 2 1 3 2 3 2.43

Professional Attitude Considered 3 3 2 2 3 2.60Oral Communication Considered 2 2 2 3 2 2.38

Decision Making Considered 3 2 2 2 3 2.40

Computer Literacy Considered 3 3 3 3 1 2.55Problem Solving Considered 3 2 3 3 3 2.92Critical Thinking Considered 2 3 1 2 2 2.32Analytical Skills Considered 3 3 1 3 3 2.68

Teamwork Considered 3 2 3 2 3 2.35Written Communication Considered 3 3 3 2 3 2.90

Business Awareness Considered 2 3 3 3 3 2.98Basic Accounting Skills Considered 3 2 3 3 3 2.82

Ethics Considered 2 2 2 3 1 2.01Interpersonal Skills Considered 2 3 2 2 3 2.52

Continuous Learning Considered 3 3 3 3 1 2.78Accounting software

knowledge Considered 2 3 3 2 3 2.65

Documents

What Skills and Attributes Does an Accounting Graduate Need? Evidence