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A REPORT ON

WHAT SKILLS AND ATTRIBUTES DOES AN ACCOUNTING GRADUATE

NEED? EVIDENCE FROM STUDENT PERCEPTIONS AND EMPLOYER

EXPECTATIONS

PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITYWhat skills and attributes does an accounting graduate need?

Evidence from student perceptions and employer expectations

PREPARED FORMD. ZAKIR HOSEN

Lecturer,Department of Accounting and Information System

Faculty of Business Administration and Management

SUBMITTED BY

Group: 01(Warrior)

Level-4, Semester-I


Course Title: Auditing

Course Code: AIS 416

Date of Submission: May 28, 2009

PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITY

Letter of Transmittal

Name of the students Reg. No. Roll No.

Md. Kamruzzaman (L) 00660 01

Shuvradeb Barai 00668 09

Abu Zafour 00680 21

Sahana Parveen 00666 07

Nazmul Alam Siddiqui 00565 24

Date: May 28, 2009

To

MD. ZAKIR HOSENLecturer,Department of Accounting and Information SystemFaculty of Business Administration and Management

Subject: Letter of Transmittal

Dear Sir,

Here is the report on “What skills and attributes does an accounting graduate need?

Evidence form student perceptions and employer expectations” You asked us to

prepare this report as a course requirement of Auditing.

This report focuses on the accounting graduate’s skill and attributes. We are proud

of making this report. We have tried our level best to make the report informative

and fruitful. For any classification we will be available and looking for such term

paper in coming days. We will be happy to get such type of report further.

Sincerely Yours

Group: 01(Warrior)

Level-4, Semester-1


Patuakhali Science and Technology University

Letter of Authorization

Date: May 28, 2009

To

MD. ZAKIR HOSEN

Lecturer,

Department of Accounting and Information System


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 form student perceptions and employer

expectations” we have been prepared is not a copy of any report previously made

by any other students.

We also express my 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: 01(Warrior)

Level-4, Semester-I


Patuakhali Science and Technology University

ACKNOWLEDGMENT

At first we desire to express our deepest sense of gratitude of almighty Allah. With

profound regard we gratefully acknowledge our respected course teacher Md.

Zakir Hosen, Lecturer, Department of Accounting and Information System, Faculty

of Business Administration and Management for his generous help and support for

preparing this report.

We like to give thanks especially to our Elder brother of 1st Batch students, friends,

the employers of two CA Firm- M.M.HOSSAIN & CO. and K.M. ALAM, KHALEQUE &

CO. & many individuals, for their enthusiastic encouragements and helps during the

preparation of this report and for their assistance in typing and proofreading this

manuscript.

EXECUTIVE SUMMARY

This report is an assigned job as a partial fulfillment of course requirement by

honorable Course teacher Md. Zakir Hosen Lecturer, Department of Accounting &

Information System, Faculty of Business Administration and Management,

Patuakhali Science and Technology University. It is the optimum aggregated

outcome of 5 pupils’ about “What skills and attributes does an accounting graduate

need? Evidence form student perceptions and employer expectations” The view of

this report is to find out what skills and attributes are basically needed for an

accounting graduate to make his duty profissionaly in the practical job field. As well

as we try to find out both personal and professional skills of the accountant through

our report. We hope those focus point will help the person who want to become a

successful accountant in his future life.

ABSTRACT

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. It has been

much debate between various stakeholders about the need for accounting graduates

to develop a broader set of skills to be able to pursue a career in the accounting

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

study investigates what attributes and skills are needed for a graduate accountant in

respect of student perceptions and employer expectations. This study uses mixed

methods to examine perceptions and expectations of two major stakeholders: students

and employers. Findings indicate that students are becoming aware of employers

expectations in terms of communication, analytical, professional and teamwork skills.

Although employers are still expecting a good understanding of basic accounting skills

and strong analytical skills, they are also requiring business awareness and

knowledge in terms of the real world. 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.

INTRODUCTION

An accountant is one who is responsible for reviewing, evaluating, analyzing, and

verifying particular data or information. Accountants are most often employed in

the Accounting or Financial fields, though other fields might also utilize Auditors.

An Accountant might be responsible for examining a wide variety of data, facts and

figures, and other information, toward providing verification and integrity of the

business at hand. Some examples of accountants duties include: Verification of

Payroll records, insurance claims and resolutions, Bank transactions, bookkeeping

practices and figures, and other similar responsibilities. Accountant must be honest,

trustworthy, organized, not afraid of details, statistics or numbers, and must be

keenly involved in the business at hand, to ensure accuracy and integrity of the

auditing process. Accountant must also be comfortable with mathematics, statistical

analysis, problem solving, and other similar disciplines and for acquiring those skill

and attributes he directly need academic degree with relative experience.

Some people who are into this profession have the tendency of not updating their

skills. As the result they lack the skills required and are unable to match the

competency of skilled workers. Hence, for an Accountant of any country of the

world, it is important to hone up their skills regularly. So become a professional we

need regularly update yourself.

LITERATURE REVIEW

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 suggested that ‘the strongest message that I can

bring before you is to plead for stronger and more effective co-operation between

academics and educators on the one hand and accountancy practitioners on the

other. We use the term ‘accounting practitioners’ 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.” To this end the role of the

profession is to specify and communicate the skills and knowledge needed to be an

accomplished practitioner and the responsibility for curriculum development and

appropriate teaching methods rest primarily with the academic community. Quite

simply the professionals need the intellectual and research abilities which the

academics can bring to the table. Equally, the educators need the guidance of the

profession in identifying the skills need the guidance of the profession in identifying

the skills and knowledge needed to be an accomplished practitioner.

Bricker (1993) traces the role of research in business education suggests that by the

1980s practical research was frowned upon in many accounting faculties. Most of

the research was highly mathematical, used sophisticated statistics, and employed

theories that were at times exotic and addressed issue of little concern to

practitioners.

Many writers have reinforced the view that oral and written communication skills

are considered to be the two most important skills. 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 (2005) 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. Albrecht

and Sack (2006), Herring and Williams (2007), Needles and Powers and Zeff all

recommended abandoning a wholly procedural (technical) approach to financial

accounting.

Hunton 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 suggest that accountants need education in complementary bodies of

knowledge such as organizational behavior, issues in strategic management and

measurement and analytical skills. Johnson & Johnson 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.

METHODOLOGY

Sample

We conducted a study involving data collection from accounting academics in our

university. In our survey we selected academics for students as well as the Charter

Accountant’s Firm for employee as a sample. We carefully select 15 students of

Patuakhali Science and Technology University of BBA as our Sample. We also select

tow Charter Accountant Firm through convenience method form our country

named- M.M.HOSSAIN & CO. and K.M. ALAM, KHALEQUE & CO.

We collect carefully 5 employers of those organizations and collect necessary data

from them by using a common interview schedule’. We carefully analysis their

primary data through tabulation, chart, graph etc. Our analysis data are given in the

main body of the report through different table, chart, graph and their proper

analysis.

Data Collection

Data collection involved administration of a survey which was adapted both over

students and employee. We collect data by using two way, firstly- primaray data

and secondly the secondary data. We collect primary data by developing a

interview schedule and secondary data are collected from CA Firms websites and

other paper documents. In our survey we consider scale point for –

• Student’s perceptions about the value and relevance of accounting degree at their

own universities is 1 for strongly disagree, 2 for disagree, 3 for partially agree, 4

for agree and 5 for strongly agree.

• Students and employers mean emphasis rating for skills: considered importance

to career verses extend deliver is 1 for no priority, 2 for priority, 3 for top priority.

Processing and Tabulation of Data

For achieving the objectives of the study processing and tabulation are necessary.

All collected primary data for the present data for the present study were coded,

tabulated, summarized and processed for analysis after collection of data form field

level. The first step was taken to scrutinize the data of each and every schedule to

find out any inconsistency or omission in the data collection and to avoid irrelevant

information. After completing the pre-tabulating task, actual tabulation was stared.

Processed data were transferred to a master sheet and compiled with a view of

facilitating tabulation.

Analysis of Data

The data were analyzed on the basis of the objectives of the study. In the present

study tabular and descriptive techniques were mainly used for analysis of data.

Tabulation techniques were applied with the help of average, percentage, standard

deviation etc. to find out the meaningful results.

Limitations of the reports

Since our study is based on both primary and secondary data, there is a possibility

of getting fake information. If the surveyed personnel provide us with any

fabricated information about their own opinion, then the report findings may be

erroneous. Above all, this study is weak in some points. The notable ones are as

under-

The survey was conducted in a very short time so we were not able to collect

more information.

Information’s are their own opinion, so there stay the chance of biasness.

All employees of the Farm and students are not considered in this report.

The questionnaire contains some questions that, if answered properly, might

damage the company’s image. In this type of questions, the respondents

might provide generally acceptable answers. This risk was unavoidable.

Another limitation of this study is the person’s private information were not

disclosing some, data and information for obvious reasons, which could be

very much useful.

Lack of experience in this field.

Lack of proper authority to conduct the interview program.

Development of Survey Questions

This study addresses the following survey questions:

SQ1: Why study accountancy?

Importance of accountancy

We live in an information age—a time of communication and immediate access to

data, news, facts, and commentary. Information affects how we live, whom we

associate with, and the opportunities we have. To fully benefit from the available

information, we need knowledge of the information system. An information system

consists of the collecting, processing, and reporting of information to decision

makers.

Providing information about what businesses own, what they owe, and how they

perform is an important aim of accounting. Accounting is an information and

measurement system that identifies, records, and communicates relevant, reliable,

and comparable information about an organization’s business activities. Identifying

business activities requires selecting transactions and events relevant to an

organization. Examples are the sale of iPods by Apple and the receipt of ticket

money by Ticketmaster. Recording business activities requires keeping a

chronological log of transactions and events measured in dollars and classified and

summarized in a useful format. Communicating business activities requires

preparing accounting reports such as financial statements. It also requires

analyzing and interpreting such reports. We must guard against a narrow view of

accounting. The most common contact with accounting is through credit approvals,

checking accounts, tax forms, and payroll. These experiences are limited and tend to

focus on the recordkeeping parts of accounting. Recordkeeping or bookkeeping, is

the recording of transactions and events, either manually or electronically. This is

just one part of accounting. Accounting also identifies and communicates

information on transactions and events, and it includes the crucial processes of

analysis and interpretation.

Technology is a key part of modern business and plays a major role in accounting.

Technology reduces the time, effort, and cost of recordkeeping while improving

clerical accuracy. Some small organizations continue to perform various accounting

tasks manually, but even they are impacted by information technology. As

technology has changed the way we store, process, and summarize masses of data,

http://www.ticketmaster.com/

http://www.apple.com/

http://www.bigaccountancy.com/journal-of-accountancy/importance-of-accountancy-all-about-cmas/

accounting has been freed to expand. Consulting, planning, and other financial

services are now closely linked to accounting. These services require sorting

through data, interpreting their meaning, identifying key factors, and analyzing

their implications.

Accounting is often called the language of business because all organizations set up

an accounting information system to communicate data to help people make better

decisions.

Users of Accounting Information

External Users

Lenders

Shareholders

Government

Consumers group

External auditors

Customers

Internal Users

Managers

Officers and directors

Internal auditors

Sales staff

Budget officers

Controllers

Internal Information Users Internal users of accounting information are those

directly involved in managing and operating an organization. They use the

information to help improve the efficiency and effectiveness of an organization.

Managerial accounting is the area of accounting that serves the decision-making

needs of internal users.

Internal reports are not subject to the same rules as external reports and instead of

designed with the special needs of internal users in mind. There are several types of

internal users, and many are managers of key operating activities.

Research and development managers need information about projected costs and

revenues of any proposed changes in products and services. Purchasing managers

need to know what, when, and how much to purchase. Human resource managers

need information about employees’ payroll, benefits, performance, and

compensation. Production managers depend on information to monitor costs and

ensure quality.

Distribution managers need reports for timely, accurate, and efficient delivery of

products and services. Marketing managers use reports about sales and costs to

target consumers, set prices, and monitor consumer needs, tastes, and price

concerns. Service managers require information on the costs and benefits of looking

after products and services. Decisions of these and other internal users depend on

accounting reports.

Both internal and external users rely on internal controls to monitor and control

company activities. Internal controls are procedures set up to protect company

property and equipment, ensure reliable accounting reports, promote efficiency,

and encourage adherence to company policies. Examples are good records, physical

controls (locks, passwords, guards), and independent reviews.

Opportunities in Accounting

Accounting information affects many aspects of our lives. When we earn money, pay

taxes, invest savings, budget earnings, and plan for the future, we are influenced by

accounting. Accounting has four broad areas of opportunities: financial, managerial,

taxation, and accounting-related. Exhibit 1.3 lists selected opportunities in each area.

Accounting Jobs by Area

Opportunities in Accounting Opportunities in Accounting

FinancialFinancial ManagerialManagerial TaxationTaxation Accounting related Accounting related

Preparation

Analysis

Auditing

Regulatory

Planning

Criminal

investigation

General

accounting

Cost accounting

Budgeting

Internal auditing

Consulting

Controller

Treasure

Strategy

Preparation

Regulatory

Planning

Investigations

Consulting

Enforcement

Legal services

Estate plans

Ledger

Consultants

Analysis

Traders

Directors

Underwriters

Planners

Appraisers

Accounting specialists are highly regarded. Their professional standing often is

denoted by a certificate. Certified public accountants (CPAs) must meet education

and experience requirements, pass an examination, and exhibit ethical character.

Many accounting specialists hold certificates in addition to or instead of the CPA.

Two of the most common are the certificate in management accounting (CMA) and

the certified internal auditor (CIA). Employers also look for specialists with

designations such as certified bookkeeper (CB), certified payroll professional (CPP),

and personal financial specialist (PFS).

Individuals with accounting knowledge are always in demand as they can help with

financial analysis, strategic planning, e-commerce, product feasibility analysis,

information technology, and financial management. Benefit packages can include

flexible work schedules, telecommuting options, career path alternatives, casual

work environments, extended vacation time, and child and elder care.

Demand for accounting specialists is boosting salaries. Reports average annual

salaries for several accounting positions. Salary variation depends on location,

company size, professional designation, experience, and other factors. For example,

salaries for chief financial officers (CFO) range from under $75,000 to more than $1

million per year. Likewise, salaries for bookkeepers range from under $30,000 to

more than $80,000.

Accounting Salaries for Selected Fields

SQ2: What academic qualifications are needed for being an accounting

graduate?

For being an accounting graduate may be required studying combined or double

degrees or others significant degrees. In academic qualification may have BBA,

MBA, CA, ACCA, CMA and so forth. CMA is a Certified Management Accountant. This

is different from a Certified Public Accountant. A Certified Management Accountant

is employed by a business firm or a not-for-profit organization, and deal with

private accounting. A CMA can obtain employment by companies, government, and

non-for-profit entities. A CMA can obtain employment as a Bookkeeper, Payroll

Clerk, General Accountant, Budget Analyst, Cost Accountant, Internal Auditor, or

Information Technology Auditor. These CMA careers have starting salaries ranging

from $28,500 to $72,500, which is much higher than the salary range for CPAs. A

Bookkeeper does not need to have any certification, and therefore does not have to

be a CMA. A Payroll Clerk must have certification called Certified Payroll

Professional, or CPP, but does not need to be a CMA. A general accountant or budget

analyst may not be required to be a CMA, but many CMAs begin as a general

accountant or budget analyst. A Cost accountant must be a CMA and be licensed by

whatever state agency monitors and regulates accountancy in that state. An Internal

auditor must be a CMA and have an additional certification as a certified internal

auditor, or CIA. An Information technology auditor must be a CMA and also have

certified information system auditor licensing, or CISA.

SQ3: What Skills and attributes are required to become an Accountant?

Skills and Attributes Required for Accountants

The main job of an accountant is to do journal entries, maintain ledgers, carefully

prepare profit and loss accounts and carefully tally the balance sheet of the

company. But these days are expected to do bit more than usual. Now, an

accountant job is to prepare financial statement that includes audits, reviews,

compilations, agreed upon procedures, forecasts and projections, payroll tax

preparation (monthly, quarterly and annually), financial statements (monthly,

quarterly and annually), accounting systems evaluation, analysis and

implementation. Seem to be a tough task. Well to make the job much simpler for

Accountant, there is different software available in the market. So calculations have

become bit simpler and faster too. If anyone has planned to be among the top

Accountant, then it is suggested to learn. Side by they should have the following

skills—

Capabilities to study, evaluate, and interpret

Interest for mathematics

Good communication skills (both verbal and Written)

Have accounting software package knowledge

Some people who are into this profession have the tendency of not updating their

skills. As the result they lack the skills required and are unable to match the

competency of skilled workers. Hence, for an Accountant, it is important to perfect

up their skills regularly. With the advent of Internet, accountants try to keep

complete transparency of the work they do and are in constant touch with the

customer and provide them with competent services.

Mathematical aptitude and strong analytical skills top the list of must have

attributes for an accountant. Certified public accountants will study high level math

and statistics in addition to specific accounting skills. Sciences, while not directly

applied in accounting, are required as well, and they complement the analytical

thinking necessary in accounting. Accountants who aren't CPAs don't have to meet

the same stringent educational requirements, but will likely study many of those

same topics.

Accounting is an exceptionally time sensitive job that requires strong organizational

skills and a talent for scheduling and multitasking. An accountant is at ease breaking

large jobs into smaller tasks and completing them on schedule, or delegating them,

so that deadlines are not missed. The ability to track several tasks simultaneously

helps an accountant know when a project won't be completed on time, so that this

can be communicated to the client.

Accountants are detail oriented. Small accounting errors such as the incorrect

placement of a decimal point can result in big financial losses. Consequently,

impatience and sloppiness have no place in accounting. Also, those who have a lot of

trouble recognizing errors while proof reading or checking columns of numbers

could find themselves at a disadvantage.

Technology skills required for accounting include ability to use spreadsheet and

database programs, and familiarity with common accounting software. Accountants

must also keep abreast of the latest systems to track and share financial data within

an office and also between corporate branches of larger companies.

A successful accounting career depends upon interpersonal skills as well as

technical expertise. Accounting tasks are often solitary, but they're usually

part of a larger project that requires team work. The ability to communicate

and cooperate effectively with coworkers and clients is what helps bring

necessary data together to accomplish accounting tasks. Outside of work, an

accountant needs to make an effort to network with colleagues and clients in

social settings or recreational outings like business lunches or golf dates.

SQ4: What Personal Skills or Qualities are needed to become an Accountant?

Several skills and attributes are required to become an accountant. The most

significant skills and attributes are mentioned as follows—

Strong analytical and problem solving abilities

Good attention to detail

Logical thought processes

Mathematical and numeracy skills

Good communication skills to be able to build rapport with clients/internal

stakeholders

Discretion with confidential information and

The ability to keep up-to-date with an organization’ financial management

policies as well as commonwealth and state laws.

Leader and strong advocate of Finance

Strong communicator with stakeholders from varied backgrounds

Excellent team working skills

Self starter with a willingness to learn and develop new skills

Capable of offering effective challenge

Appetite for tackling difficult problems and seeing through to resolution.

Knowledge of the basic theories, principles, methods, and procedures of

professional accounting

Knowledge of office methods and procedures

Knowledge of automated data processing systems

Ability to prepare complete and accurate accounting reports

Ability to perform detailed work involving the application of accounting

theory to routine accounting problems

Ability to evaluate routine accounting problems and analyze and interpret

less complex accounting records and reports

Ability to perform detailed work involving written or numerical data and

make arithmetical calculations rapidly and accurately

Ability to operate office accounting machines and equipment

Ability to work effectively with others

SQ5. What professional skills does employers expect that an accounting

graduate to possess at entry level?

The literature highlights the facts that often employers and students have different

perspective about the nature of the professional skills that are required for a

successful accounting career. There are most important criteria used by employers

for selecting accounting graduates are the graduates’ motivation or interest in the

job, personal qualities and communication skills. However, accounting graduate

perceive examination result to be the most important criterion used by employers

followed by personal qualities and communication skills. Some qualities, skills and

attributes are discussed as follows—

Self-Confidence and Self-Assurance

Several management accountants mentioned the confidence factor. “The entry-

level people are not very assertive. They are so timid and scared,” observed a

Hewlett-Packard accountant. An accountant at a Caterpillar production facility cited

universities as the problem. “I think that schools could better pre-pare people for

the work environment … they have to teach students how to talk to people and not

step on their feet.”

One solution is to do things that generate self-confidence, such as getting a broader

education or becoming involved in sports. Nevertheless, as time passes, confidence

will increase. “Once they’ve been around for a couple of years they find out they

were really pretty assertive all along,” said the Hewlett-Packard accountant. “The

few who become real stars are the ones that have that assertiveness to disagree

with their manager.”

Accounting Skills/the Basics

It may seem obvious, but management accountants should be grounded in both

managerial and financial accounting. They also should take a few management

courses to appreciate and relate to leaders. “The first piece of advice I would give

them is to learn the basics,” another HP accountant said. “Be very competent in

spreadsheets and decision tools, plus other things like OLAP and reporting

products.”The same view was expressed at Abbott Labs. An accountant there

advised students to ground themselves in their technical skills: Cost accounting,

General accounting, and Financial statement analysis.

He also urged students to take audit, cost accounting, and, if possible, operations

classes. He noted the value of classes with teamwork and unstructured

assignments. Those skills and the ability to find information will be handy in the

business world.

Communication, Initiative, and Leadership

As fundamental as accounting skills are, they aren’t sufficient for success.

“Leadership, initiative, communication skills. These are our top three. If you don’t

have these, you don’t have a place here at Caterpillar,” said one accountant. Indeed,

at the company headquarters, some entry-level employees give presentations to

group presidents after only three to six months. At the core of communication skills

is the ability to take a complex subject, boil it down into easily understood language,

and explain it to non accountants. Interpersonal skills are critical—you should be

able to influence people and must be comfortable dealing with coworkers at

different levels. After all, you aren’t always talking to a peer. To succeed, you need

initiative.

This means taking that extra step, asking a coworker or supervisor if they need

help, making recommendations after you do the analysis on a problem, or finding

alternatives and making recommendations to management. It means following

through to complete the picture.

Critical Thinking

For many companies, critical thinking and its corollary, creative problem solving,

are key. Accountant should be able to step back and look at something “out of the

box.” “The skills that I find the hardest to get in people are analytical thought

processes and critical thinking,” said a Caterpillar management accountant. “Nine

out of 10 people that I see coming here can be wizards at spreadsheets, can

manipulate data effectively, but they aren’t very good at figuring out whether the in-

formation in front of them is reasonable or realistic.

Accuracy

Accuracy is crucial. An error in a calculation could amount to millions of dollars,

which in turn could lead to an erroneous decision. A Boeing executive highlighted

the difference between school and the work world: The real world “is not like a test

where you turn it in and get 10 points off because you screwed up on a number.

When anyone get into business and mess up numbers, the ramifications are a whole

lot bigger. It’s part of his job and his responsibility to check every number or to set

up a system where he knows that the numbers are correct.”

Other Advice to Students and Entry-Level Accountants

Accept the idea that training and education are a lifelong process.

Be more IT/database knowledge.

Have a passion for the business. Don’t work for a company if you have no

interest in what it does because you’re going to be required to strategically

influence that business.

Understand that business is different overseas. Cultures are different, the

way you do business is different, and markets are different.

Understand relationships between data and how systems work.

Be able to think logically. If you can do that, then you can learn almost

anything fairly quickly because you won’t be memorizing.

Have a good business understanding. Be able to look at a business and really

understand what drives it and what the key factors are those make it go well

or not go well.

Be able to do projections, set goals, and determine a path to get to that goal.

Be able to work in a team environment.

Be able to apply what you learn.

Be mature. I don’t know if you can teach that, but with business comes a

higher level of responsibility.

Develop computer skills.

Develop writing skills.

Be patient enough to work in a bureaucracy and impatient enough to be

willing to change it.

Be willing to take risk—it’s the only way to grow.

Be willing to make mistakes, and don’t let them devastate you. Be smart

enough not to make the same mistake twice.

Have a good idea of how a company runs.

Continually educate yourself, whether it’s formal or informal, taking

additional courses or keeping current.

Have a process view, be very process focused, and look at things not just

where finance starts and ends but as a whole.

Have high energy and a positive attitude. Be very proactive.

Have integrity. If you are going to become the confidant of the top

management people, if you are going to be the advisor, they’ve got to trust

you implicitly.

We can compare undergraduates’ and employers’ perceptions of the importance of

skills across five board areas –

Interpersonal

Communication

Technical

Computer and

Business-economic skills

The students consistently ranked all areas higher in importance than their potential

employers. In another study involving undergraduate business students and

employers, and employers ranked verbal communication, problem solving, and

listening skills as the top three general business skills, but for other skills there

were clear differences. There are some generic skills in the core curriculum in

accounting; these factors have been identified as representing the skills that

students perceived as being important to their careers, these factors are shown in

the following figure.

Figure: Generic skills in the core curriculum in accounting

SQ6. What professional skills are required for complete a standard

unqualified audit report?

An Auditor is one who is responsible for reviewing, evaluating, analyzing, and

verifying particular data and information. Auditors are most often employed in the

Accounting or Financial fields, though other fields might also utilize Auditors. An

Auditor might be responsible for examining a wide variety of data, facts and figures,

and other information, toward providing verification and integrity of the business

at hand. Some examples of Auditor duties include: Verification of Payroll records,

Routine and technical skillsRoutine and technical skills

Analytical/ design skillsAnalytical/ design skills

Appreciative skillsAppreciative skills

Personal skillsPersonal skills

Interpersonal skillsInterpersonal skills

Combined skillsCombined skills

insurance claims and resolutions, Bank transactions, bookkeeping practices and

figures, and other similar responsibilities. Auditors must be honest, trustworthy,

organized, not afraid of details, statistics or numbers, and must be keenly involved

in the business at hand, to ensure accuracy and integrity of the auditing process.

Auditors must also be comfortable with mathematics, statistical analysis, problem

solving, and other similar disciplines.

Auditor should apply these attributes in order to:

1. Obtain and assess objective evidence fairly.

2. Remain true to the purpose of the audit without fear or favors.

3. Evaluate constantly the effects of audit observations and personal

interactions during an audit.

4. Treat concerned personnel in a way that will best achieve the audit purpose.

5. Perform the audit process without deviating due to distraction.

Skills and

Attributes

Skills and

Attributes

Independence

Integrity

Tactfulness

Objectivity Objectivity

Persistence

Professional due care

Flexibility

Proper planning and supervision

ConfidentialityCommunication Skills

6. Commit full attention and support to the audit process.

7. React effectively in stressful situations.

8. Arrive at generally acceptable conclusions based on audit observations.

9. Remain true a conclusion despite pressure to change that is not based on

evidence.

SQ7. What are employer expectations about experience of an accounting

graduate?

In the modern time the work of an accountant will be highly challenging, stretching and

non-repetitive and, as such, it would be ideal for an individual who wished to build on

their existing accounting experience on their professional job field for build a better

future on accountants’ career. In the modern every professional job requires experience

and without experience getting a job is critical.

An account will not out of this condition they are also required experience when they are

seeking for any professional job. When a student work in an audit firm as an Article

student, he will gather vital accountancy experience form the firm. This experience will

help them to become a successful auditor in his professional life.

Employer always expects that an experienced graduate always more skillful in checking

evidence, adept in recording and mathematical calculation as well as in error correcting

of a report. The experienced also take little time than an inexperienced graduate when

they are in same work. So the experienced are always considered as the more qualified as

inexperienced.

Survey Questions and Answer at a Glance

Opinion

Students Perceptions Employers Perceptions

1. Importance of accounting

To build career on accounting professionHigher range of salaries is offered with accountancy jobOpportunity area very huge with— private, public, and not-for-profit organization

It is the language of business, because all organizations set up an accounting information system to communicate data to help people make better decisions.Primary importance:Keeping permanent record, for preparing the appropriate financial statements including— balance sheet, income statement, cash flow statement, and equity statements. Secondary importance:Cost control, prevention of fraud, misappropriation, assessing the tax, and obtaining loan facility, Providing information about what businesses own, what they owe, and how they perform is an important aim of accounting.

2. What academic qualifications are needed for being an accounting graduate?

BBA, MBA, CA, ACCA, CMA BBA, MBA, CA, ACCA, CMA

3. What Skills and attributes are required to become an Accountant?

Academic degree it may be graduate or postgraduateDepth accounting knowledge Interest in accounting and good proficiency in mathematics

Academic degree it may be graduate or postgraduateProfessional degree such as CA, ACCA, CMA etc. Professional skills and attributes Experience in accounting related works

Survey Questions and Answers at a Glance (Continued)

Opinion

Students Perceptions Employers Perceptions

4. What Personal Skills or Qualities are needed to become an Accountant?

Strong analytical and problem solving abilities Independency, integrity Good attention to detail Mathematical and numeracy skills Computer literacyKnowledge about accounting softwareInterpersonal Communicating Ability

Good attention to detail Independency, integrity Logical thought processes Good communication skills to be able to build rapport with clients/internal stakeholders Excellent team working skills Capable of offering effective challenge Ability to work effectively with others

5. What professional skills does employers expect that an accounting graduate to possess at entry level?

Self-Confidence and Self-AssuranceAccounting Skills/the BasicsCommunication, Initiative, and LeadershipCritical ThinkingAccuracyBe more IT/database knowledge.

Self-Confidence and Self-AssuranceInterpersonalCommunication, Initiative, and LeadershipCritical ThinkingAccuracyTechnical Computer and Business-economic skillsUnderstand relationships between data and how systems work.

Survey Questions and Answer at a Glance (Continued)

Opinion

Students Perceptions Employers Perceptions[[[[[[

6. What professional skills are required for complete a standard unqualified audit report?

IndependenceObjectivity

Integrity

Flexibility

Adequate training

Adequate proficiency

Proper planning and supervision

Persistence

Tactfulness, Confidentiality Professional due care

Knowledge about internal control

Competency on evidence gathering

7. What are employer expectations about experience of an accounting graduate?

Students looking for gathering accounting

experience through internship in different

organization and working CA firms as a

article students

Employers looking for experience

graduate because they are more capable

in their professional work such as

recording, error checking evidence

collecting and analysis activities rather

than inexperienced.

Table: 1

Student’s perceptions about the value and relevance of accounting degree at

their own universities

Questions Mean SD

1. Intend to undertake postgraduate studies (MBA) 4.2 1.22

2. CA is more preferable than doing MBA 3.4 1.55

3. A core accounting major in strength of any business 3.8 1.52

4. Undertaking a dual degree academic (BBA, MBA) and

professional degree (CA/ACCA) is very beneficial

4.4 0.40

5. Accounting and business education in Bangladesh today is

keeping up what it actually occurring in the business

environment

3.87 0.78

Scale: Strongly disagree = 1, disagree = 2, agree = 3, partially agree = 4, strongly

agree = 5.

Student’s perceptions about the value and relevance of accounting degree at their

own universities (Patuakhali Science and Technology University) are included in

the Table-1. Here we represents two statistical measures for evaluation their

perception about the value and relevance of accounting degree. Two statistical

measures are mean and standard deviation. Students felt that Undertaking a dual

degree academic (BBA, MBA) and professional degree (CA/ACCA) is very beneficial

than any single degree which means is 4.40 and standard deviation is 0.40. Students

indicated a greater preference for completing postgraduate degrees which mean is

4.2. Students felt that a core accounting major is strength of any business or

commerce degree. Many students express their perception that CA is more

preferable than doing MBA degree which means is 3.4. Standard deviation is 1.55,

and some students think that MBA is preferable than CA. another answer arises

from students that accounting and business education in Bangladesh today is

keeping up what it actually occurring in the business environment which means is

3.87.

Graph-1

In this graph we represent the student perception about the values and relevance of

accounting degree. In this graph we symbolize the mean and standard deviation of

several questions answered by the students. They highly emphasizes for attaining

dual degree which consists of academic (BBA, MBA) and professional degree

(CA/ACCA) is very beneficial than the single degree (in question-4). The reason

behind that, in the present practical job field condition is very complex and thus the

students now want to undertake more than one degree. Side by side they also like

to emphasize the following subject matter sequentially - Intend to undertake

postgraduate studies (MBA), accounting and business education in Bangladesh

today is keeping up what it actually occurring in the business environment, a core

accounting major in strength of any business, CA is more preferable than doing

MBA.

Table: 2

Student mean emphasis ratings for skills: importance to career versus extent

delivered

Skills and Attributes Considered

important

Extent delivered/

development

Differences

between column

1 and 2

Self motivated 2.47 2.00 0.47

Professional attitude 2.53 1.86 0.67

Oral communication 2.53 1.73 0.80

Decision making 2.26 2.00 0.26

Computer skills/ literacy 2.20 1.73 0.47

Risk propensity 2.23 1.98 0.25

Project management 2.75 2.50 0.25

Risk analysis 2.83 2.33 0.50

Problem solving 2.47 2.00 0.47

Critical thinking 2.53 2.20 0.33

Analytical skills and attributes 2.53 1.93 0.60

Ethical awareness 2.13 2.00 0.13

Teamwork 2.40 2.13 0.27

Written communication 1.93 1.73 0.20

Basic accounting skills 2.33 1.93 0.40

Business awareness and real life

experience

2.67 2.33 0.34

Interpersonal skills and

facilitation skills

2.13 1.82 0.31

Continuous learning 2.80 2.27 0.53

Leadership 2.67 2.56 0.11

Accounting software knowledge 2.10 2.00 0.10

Students indicated that all of the listed skills and attributes in the table-2 are most

important and continuous learning is rated most important to future careers. In this

table -2 we considering two significant things- considered important and extent

delivered/developed. In this table we represent twenty principles skills and

attributes and rate of these skills. In this table we assume that standard rate for no

priority is one, priority is two and high priority is three. Here we calculate Mean of

those two components and provide differences. Self-motivated, professional

attitude, oral communication, decision making, computer literacy, problem solving,

critical thinking, analytical skills, teamwork are rated as the top skills. To add

richness to the discussion and to reduce the complexity of the finding, further

analysis of the data relating to the skills set was conducted. Students think that

there are some skills which are less important in comparison to the above skills.

Such as accounting software knowledge, Interpersonal skills and facilitation skills,

written communication, Risk propensity, Computer skills/ literacy. But in overall all

skills are important for an account graduate.

Table: 3

Employers mean emphasis ratings for skills and attributes: importance to their

career

Skills and Attributes Considered Important

Average SD

Self motivated 2.67 0.82

Professional attitude 2.33 0.73

Oral communication 2.80 0.51

Decision making 2.53 0.68

Computer skills/ literacy 2.40 0.76

Risk propensity 2.20 0.91

Project management 2.80 0.93

Risk analysis 2.56 0.59

Problem solving 2.33 0.52

Critical thinking 2.40 0.88

Analytical skills and attributes 2.46 0.55

Ethical awareness 2.67 0.56

Teamwork 2.73 0.38

Written communication 2.00 0.51

Basic accounting skills 2.67 0.63


experience

2.60 0.78

Interpersonal skills and facilitation

skills

2.20 0.44

Continuous learning 2.87 0.39

Leadership 2.88 0.32

Accounting software knowledge 2.13 0.86

In table-3 we represents employers mean emphasis ratings for skills and attributes:

importance to their career. Here we focus several skills and attributes which are

important for the accountant graduates whom are think by the employer. They

provide strong emphasis on some factors like – Leadership, Continuous learning,

Project management, Teamwork, Written communication, Basic accounting skills,

Business awareness and real life experience etc. side they think the following

factors are less significance when it affect the accountants skills and attributes-

Accounting software knowledge, Risk propensity, Interpersonal skills and

facilitation skills, Professional attitude, Problem solving, Critical thinking etc. but in

overall all those factors are have significance influence on accounting graduates.

Table: 4

Rankings for most important attributes and skills based on average scores by both

students and employers

Skills and Attributes Overall ranking

employers

Overall

ranking

students

Self motivated 5 6

Professional attitude 12 5

Oral communication 3 5

Decision making 8 9

Computer skills/ literacy 10 11

Risk propensity 13 10

Project management 3 3

Risk analysis 7 1

Problem solving 11 6

Critical thinking 10 5

Analytical skills and attributes 9 5

Ethical awareness 5 12

Teamwork 4 7

Written communication 4 14

Basic accounting skills 5 8

Business awareness and real life experience 6 4

Interpersonal skills and facilitation skills 13 12

Continuous learning 2 2

Leadership 1 4

Accounting software knowledge 15 13

In table -4 we represent the Rankings for most important attributes and skills based

on average scores by both students and employers. It is acknowledge that the

information presented in the present paper is from an analysis of the notes and

transcripts of interviews conducted with persons from different employers.

Interviews as used in these studies provide information on reported behavior,

attitude and believes. When evaluated the data collected, it has to be remembered

that data yielded by different techniques differ in kinds. Although most

measurement in the behavioral sciences involved management error, judgments

made by human are especially prone to error. To overcome this, a case has been

made for the uses of aggregated data when they meet criteria inter rater agreement.

Finally, the demographic data could have included information on prior life

experiences that might have influenced respondent perception of the professional

skill required.

Our ViewsAs students of BBA we think that both academic and professional skills and

attributes are truly necessary for our future career. Academic both undergraduate

and postgraduate degrees helps us to know the basic knowledge about accounting.

Without this basic knowledge it is impossible to develop ourselves for accounting

graduates in future. Side by side professional skills and attributes are also

necessary to perform our duties and responsibilities in the job areas/ field.

Professional skills and an attributes includes adequate training, adequate

proficiency, and professional due care, knowledge about internal control, and

competency on evidence gathering.

Experience on accounting job is now the time demand for every accounting

graduate. Reasons behind that now the job is too much complex and most of the

organization require higher experience when staffing their employees. So in short

we can conclude that both academic and professional degrees and related

experience are required to become a successful accountant.

CONCLUSIONAccounting is usually taken as one of the majors within the commerce degree.

Though the importance of accounting and auditing in making activities transparent

and corrupt free in the development process, it is difficult to gauge the extent of

their application in a mixed economy like ours where enterprises are managed by

private sector as well as the public sector. This role would offer the successful

candidate an opportunity to work as an integral part of a relatively small

professional Accounting team and thus get involved in a very wide range of

financial activities. The work will be highly challenging, stretching and non-

repetitive and, as such, it would be ideal for an individual who wished to build on

their existing accounting experience on their professional job field for build a better

future on accountants’ career.

REFERENCES

Loebbecke K. James & Arens Alvin A., Auditing : An Integrated Approach,

Eight Edition, Prentice Hall International, Inc.,pp.75-103 & 141-165.

ACNielsen Research Services, 2008, Employer Satisfaction with Graduate

Skills: Research Report, Evaluations and Investigations Programme Higher

Education Division, DETYA.

Accounting Education Change Commission (AECC), 2007. Objectives of

education for accountants: Position Statement No. 1, Issues in Accounting

education 5(2), 307-312.

Albrecht, W.S. and R.J. Sack, 2000, Accounting Education: Charting the Course

through a Perilous, Accounting Education Series, 16, 1-72. Barrie S. 2008, 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.

Borzi, M.G. and T.H. Mills, 2009, Communication apprehension in upper level

accounting students: An assessment of skill development, Journal of

Education for Business, 76(4), 193-198.

Boyce, G., S. Williams, A. Kelly, and H. Yee, 2009, 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., 2009, Critical Thinking in the Business Curriculum, Journal of

Education for Business, Mar/Apr, 78 (4), 232-236.

DeLange, P., B. Jackling, and A. Gut (2008). , Accounting Graduates’

Perceptions of Skills Emphasis in Australian Undergraduate Accounting

Courses: An Investigation from 2 Victorian Universities, Accounting and

Finance, 46.,365-386.

APPENDIXDepartment of Accounting and Information System

Faculty of Business Administration and ManagementPatuakhali Science and Technology University

An Interview Schedule on:What skills and attributes does an accounting graduate need? Evidence from

student perceptions and employer expectations

Sample No: Sample type:

Name :

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Address :

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Contact No. :

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Sex :

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Age :

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Occupation :

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Designation :

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Educational Qualification :

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Q: 1. Why study accountancy?

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Q: 2. What academic qualifications are needed for being an accounting graduate?

……………………………………………………………………………………………………………………………..

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Q: 3. What Skills and attributes are required to become an Accountant?

……………………………………………………………………………………………………………………………..

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Q: 4. What Personal Skills or Qualities are needed to become an Accountant?

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Q: 5. What professional skills does employers expect that an accounting graduate to possess at entry level?

……………………………………………………………………………………………………………………………..

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Q: 6. What professional skills are required for complete a standard unqualified audit report?

http://uk.accaglobal.com/uk/join/schoolleavers/why_accountancy/why_study

……………………………………………………………………………………………………………..………………

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Q: 8. What are employer expectations about experience of an accounting graduate?

……………………………………………………………………………………………………………………………..

…………………………………………………………………………………………………….……………….………

……………………………………………………………………………………………………………………………..

9. Table-1Student’s perceptions about the value and relevance of accounting degree at

their own universities

Student Perceptions Strongly

Disagree (1)

Disagree

(2)

Partially

Agree (3)

Agree

(4)

Strongly

Agree (5)

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

10. Table-2 Student mean emphasis ratings for skills: importance to career versus extent

delivered

Skills Considered Important Extent Developed

No Priority

(1)

Priority

(2)

Top

Priority(3)

No Priority

(1)

Priority (2) Top Priority

(3)

Self motivated

Professional attitude

Oral communication

Decision making

Computer skills/

literacy

Risk propensity

Project management

Risk analysis

10. Table-2 (continued)

Skills Considered Important Extent Developed

No Priority Priority (2) Top No Priority Priority (2) Top Priority

(1) Priority(3) (1) (3)

Problem solving

Critical thinking

Analytical skills and

attributes

Ethical awareness

Teamwork

Written

communication

Basic accounting

skills

Business awareness

and real life

experience

Interpersonal skills

and facilitation

skills

Continuous learning

Leadership

Accounting

software knowledge

11. Table-3Employers mean emphasis ratings for skills and attributes: importance to their

career

Skills Considered Important

No Priority Priority Top Priority

Self motivated

Professional attitude

Oral communication

Decision making

Computer skills/ literacy

Risk propensity

Project management

Risk analysis

Problem solving

Critical thinking

Analytical skills and attributes

Ethical awareness

Teamwork

Written communication

Basic accounting skills


experience

Interpersonal skills and

facilitation skills

Continuous learning

Leadership

Accounting software knowledge

Date:

………………………….....

.....

Signature of the interviewer

Name :

Reg. No:

Cell N o :

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