Assessing Higher Education Accounting Students: Development of the Accounting Quality Scale (AQuaS)

7/28/2019 Assessing Higher Education Accounting Students: Development of the Accounting Quality Scale (AQuaS)

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45The International Journal of Educational and Psychological Assessment

August 2011, Vol. 8(1)

2011 Time Taylor Academic JournalsISSN 2094-0734

Assessing Higher Education Accounting Students: Development of the AccountingQuality Scale (AQuaS)Carlo Magno

De La Salle University, Manila, Philippines

AbstractThe present study developed a scale that measures characteristics of accounting students to

be successful in the course. Studies in assessment of accounting students in higher

education commonly focus on the outcomes covering knowledge and skills neglecting the

non-cognitive part which also needs to be emphasized. A scale was constructed based on

the framework by DiGabriel (2008), Fliedner, and Mathiesons (2009) constructs of

accounting (thinking and planning, lean culture, business experience, and human relations).

It was administered to 206 college accounting students in the Philippines. A four-factor

structure was supported using Confirmatory Factor Analysis (2

=982.44, df=120, GFI=.86,

RMSEA=.09) as opposed to a one-factor or two-factor measurement models. Adequate

internal consistencies for each subscale were obtained with Cronbachs alpha values of .65,.65, .82, and .75 for thinking and planning, lean culture, business experience, and human

relations, respectively. Convergent validity was also attained where the four factors were all

significantly correlated, p


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the ones needed to succeed in the profession. These concerns are backed up by

problems of students in higher education such as drop-out rates because of the

inability to sustain tuition and studies, and lack of quality education in HEIs. The

Professional Regulation Commission (PRC) reported that over the past years, there

has been a decrease in the number of students attaining the passing mark in

accounting. For 2009, there were only 1239 accounting board passers as compared

to the previous years.

In order to determine specific skills and weaknesses of accounting students

in higher education, proper assessment procedures should be undertaken. The

Professional Regulation Commission (PRC) is the only organization that provides

tests for accounting for the purpose of licensing accountants in the Philippines. An

available set of test for accountants ensures the accountability of teachers to further

improve higher education students accounting skills. An accounting test not only

will show students performance, it also provides feedback if higher education

students are meeting necessary standards in accounting. Furthermore, an

accounting test validates college degrees, which can vary significantly in content,

focus, and style between HEIs. The topical material covered in an accounting testshould be consistent with the material covered by undergraduate accounting

programs. The results of an accounting examination provide a measure of the

quality of the university program and the extent to which the students have pursued

their studies in accounting. However, test results can only provide the outcome of

students performance through the scores generated. It is also important to assess

the non-cognitive aspect such as attitudes and dispositions that would determine the

important characteristics to exemplify in accounting.

There are several skills needed in accounting, but it is important to

delineate skills that are needed to be a successful accounting student. Several

studies propose a variety of these skills that is needed to be emphasized among

accounting students in higher education and professional accountants.The study by Usoff and Feldman (1998) surveyed 270 accounting students

to identify their perceptions of the important technical and non-technical

accounting skills. Students in the sample ranked accounting knowledge, logical

reasoning, problem solving, professionalism, oral communications, and computer

skills as essential and important. Low rankings were given to statistics,

memorization, law, and economics. Further analysis showed that technical skills are

generally ranked more important than non-technical skills by students in higher

education. However, graduate students in higher education find non-technical

accounting skills as important.

In another study, Simons and Higgins (1990) surveyed academicians and

small practitioners to determine their views about the extent to which certain skillsand topics should be covered in the higher education curriculum in accounting.

Their findings supported the view that "the mission-based accounting curriculum

would have core accounting courses with more emphasis on problem-solving and

communication skills, supported by a set of accounting electives" (p. 24).

Palmer, Gilfillan, Palmer, and Adrian (1997) surveyed accountants who are

non-public and public practitioners employed within the Commonwealth of

Virginia that are presently members of the Institute of Internal Auditors (IIA),


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Institute of Management Accountants (IMA), and/or the Virginia Society of

Certified Public Accountants (VSCPAs). They determined whether there are

differences among the knowledge, skills, and abilities (KSAs) required by entry-

level public accountants and those required by entry level accountants in the non-

public sector. There were no significant differences found on professional skills and

abilities, KSA group accounting principles, KSAs listed under intermediate

accounting, and issues listed under government and not-for-profit institutions.

Significant differences between public and non-public accountants were on ethics,

global issues, cost accounting, advance accounting, tax issues, legal issues, auditing,

and control and management.

In the Philippine setting, The Board of Accountancy jointly with the Task

Force on Accountancy Education of the Commission on Higher Education came

up with a well-defined set of core competencies for Filipino Certified Public

Accountants (CPAs). This was made to undertake efforts to improve the entry-level

qualification requirements for those desiring to enter the profession. The core

competency document articulates the knowledge, skills, and professional values that

new CPAs need to have in order to successfully face the challenges of today'schanging environment and the future (p. 2). The competencies stated are

categorized into knowledge, skills, and values. Knowledge includes general

knowledge, organizational and business knowledge (administrative capability and

efficiency, decision modeling, risk analysis and management, measurement, and

industry/sector perspective), information technology, and accounting knowledge

(Basic Accounting and Preparation of Financial Statements, the Accounting

Profession and International Accounting Standards, Advanced Financial

Accounting Practices, Advanced Financial Reporting Principles, Management

Accounting Basic Concepts, Management Accounting Information for

Planning, Decision-Making and Control, Taxation, Business and Commercial

Laws, Auditing Fundamentals, Auditing: Advanced Concepts, Business Financeand Financial Management). The skills include intellectual (analysis, problem

solving, strategic/critical thinking), interpersonal (being a team player, persuasion,

confidence and diplomacy, discreetness, open mindedness and patience, capacity

for work and ability to respond well to pressure), and communication (Ability to

verbally and/or in writing explain financial/ statistical/ administrative

matters/policies/ procedures/ regulatory matters/ audit results at a level appropriate

to the audience; ability to ask clear, concise and relevant questions to obtain desired

information to perform a task; Ability to negotiate effectively). Values include

professional ethics (integrity, objectivity and independence, professional

competence and due care, confidentiality, professional behavior) and moral values.

Majority of the reports acknowledge the content knowledge and skillsneeded for accountants and have neglected the assessment of the non-cognitive

skills of accounting students. Considering that there are stated and expressed need

to assess non-cognitive characteristics necessary for accountants to possess such as

non-technical skills and professional values, the present study constructed a scale

that assess the non-cognitive part of accounting students' characteristics needed to

succeed in their profession. The characteristics that will be measured in the

assessment is based on DiGabriel (2008) and Fliedner and Mathiesons (2009)


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classification of accounting characteristics. They were able to extract the

characteristics of accountants using factor analysis. DiGabriele (2008) identified

competencies of accountants that include deductive analysis, critical analysis,

problem solving, investigative flexibility, analytical proficiency, oral communication,

written communication, legal knowledge, and composure. Respondents in the study

indicated that the important characteristics using mean rankings are critical

thinking, deductive analysis, and written communication. High correlations were

found between deductive analysis and critical thinking, and between oral and

written communication. When factor analysis was conducted on the nine

components, two factors were extracted: knowledge and ability (deductive analysis,

critical analysis, problem solving, investigative flexibility, analytical proficiency) and

performance (oral communication, written communication, legal knowledge, and

composure). On the other hand, Fleidner and Mathieson (2009) identified nine

characteristics of accountants showing skills, knowledge, and expertise that included

systems planning and thinking, human relation skills, real-world business

knowledge and experience, lean culture, lean principles, stability and variance

reduction, financial and accounting knowledge, delivery, and safety. Thesecharacteristics were identified based on the lean characteristics that accountants

need to obtain. Lean characteristics are practices that promote cost-cutting,

eliminate wastage, and improve productivity and quality. The specific financial and

accounting skills in the model includes enterprise, time value of money, first in,

first out, cash flow, working capital, return on net assets, and activity-based costing.

The human relation skills include leadership, teamwork, basic problem solving,

change management, interpersonal, logical thinking, and negotiation and conflict

resolution.

The two models presenting the important characteristics of accountants

serve as a basis for an assessment tool for accounting students because they provide

a clear classification of characteristics and used scientific procedures to arrive withthe factors. There are marked similarities among the two frameworks, but they are

combined to come up with a set of factors that will serve as core constructs in

developing an assessment tool for accounting students. The combined factors

include the following: (1) Thinking and planning, (2) lean culture, (3) business

experience, and (4) human relations.

MethodParticipantsThe participants in the study are 206 college students who are all major in

accounting. These students have all finished at least five of their major accountingcourse in college. There are 98 males and 108 females with an average age of

18.12. The participants were taken from three HEIs in the Luzon area of the

Philippines that offers a course in accountancy.


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InstrumentA scale was constructed that measures the characteristics of accountants

using DiGabriel (2008) and Fliedner and Mathiesons (2009) constructs for

accounting. The Accounting Quality Scale (AQuaS) is an attitude scale composed

of thinking and planning, lean culture, business experience, and human relations.

The items were written based on the responses of students in a survey that

was conducted. The survey was composed of four open-ended questions that

determined specific manifestations of planning and thinking, human relations,

business experience, and lean culture. The questions asked in the survey are: (1)

What steps do you think about before solving accounting problems? (2) What

interpersonal characteristics do you need to possess in order for you to become a

professional accountant? (3) What experiences do you have that will require you to

use accounting theories and principles in everyday life? And, (4) What practices do

you think will make you produce quality outputs in the workplace?

Each subscale of the Accounting Quality Scale (AQuaS) is composed of 60

items reflecting the needed characteristics of accounting students. The AQuaSmade use of a four-point Lickert scale (1=strongly disagree, 2=disagree, 3=agree,

4=strongly agree). The items were reviewed by experts in accounting. Factorial

validity of the scale was established using Confirmatory Factor Analysis (CFA). The

internal consistency of the items for each subscale was also determined.

ProcedureSpecific instructions and guidelines for the preliminary pretesting were

developed. For the preliminary testing, the participants answered 240 items of the

AQuaS. A period of one hour was given for the participants to answer.

To determine the scales internal consistency, the Cronbachs alpha wasused. First, convergent validity was established where the four factors were

intercorrelated. The components of each factor were assessed for its fit and

whether the components significantly contribute to the scale using Confirmatory

Factor Analysis (CFA). The fit of the hypothesized four-factor model was assessed

by examining several fit indices including three absolute and one incremental fit

index. The minimum fit function chi-square, the root mean square error of

approximation (RMSEA), and the standardized root mean square residual (SRMR)

are absolute fit indices. The chi-square statistic (2) assesses the difference between

the sample covariance matrix and the implied covariance matrix from the

hypothesized model (Fan, Thompson, & Wang, 1999). A statistically non-

significant 2

indicates adequate model fit. Because the 2

test is very sensitive tolarge sample sizes (Hu & Bentler, 1995), additional absolute fit indices were

examined. The RMSEA is moderately sensitive to simple model misspecification

and very sensitive to complex model misspecification (Hu & Bentler, 1998). Hu

and Bentler (1999) suggest that values of .09 or less indicate a close fit. The SRMR

is very sensitive to simple model misspecification and moderately sensitive to

complex model misspecification (Hu and Bentler 1998). Hu and Bentler (1999)

suggest that adequate fit is represented by values of .09 or less. In addition, other


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incremental fit indices, the comparative fit index (CFI) Akaike Information

Criterion (AIC), Schwarz's Bayesian Criterion (SBC), and Browne-Cudeck Cross

Validation Index (BCCVI) were examined. The CFI is moderately sensitive to

simple model misspecification and very sensitive to complex model

misspecification thats whyboth fit indices were considered (Hu & Bentler, 1998).

Hu and Bentler (1999) recommend a cutoff of .95 or greater for the CFI.

The scales item fit and difficulty was determined using the one-parameter

Rasch Partial Credit Model. The partial credit model is used for items with scale

categories (such as LIckert scale). Rasch analysis estimates the difficulty of

dichotomous items as the natural logarithm of the odds of answering each item for

each scale category. In analysis of polychotomous responses to the items, item

difficulty, and person ability are defined such that when they are equal, there is a

50% chance of a correct response. As person ability exceeds item difficulty, the

chance of a correct response increases as a logistic ogive function, and as item

difficulty exceeds person ability, the chance of success decreases. The formal

relationship among response probability, person ability, and item difficulty is given

in the mathematical equation by Bond and Fox (2001). A graphic plot of thisrelationship, known as the item characteristic curve (ICC), is given for three items

of different difficulty levels.

ResultsThe reliability of the scale was assessed using the Cronbachs alpha. The

coefficient alpha determined the internal consistency of the 240 items as a whole

and for each factor (60 items each). The construct validity of the scale was first

assessed using convergent validity by intercorrelating the four proposed factors. The

factor structure of the scale was also tested by comparing the four-factor model with

a two-factor and a one-factor model. Item analysis was conducted using the RaschPartial Credit model where item fit were assessed for each factor.

Table 1

Descriptive Statistics for the AQuaS FactorsN M CI CI Minimum Maximum SD

Cronbach'

s alpha

-95% 95%

Thinking and

Planning 206 2.83 2.81 2.85 2.37 3.15 0.15 .65

Lean Culture 206 2.85 2.83 2.87 2.57 3.23 0.13 .65

Business

Experience 206 3.02 3.00 3.05 2.40 3.52 0.19 .82

Human

Relations 206 2.66 2.63 2.68 2.28 3.32 0.18 .75

The descriptive statistics of the four subscales of the AQuaS was

determined. The mean values are within a moderate range (a total of 4-point scale)

but the subscale on business experience was high (M=3.02) as compared to other

subscales. Standard deviations of the scores were minimal indicating low dispersion


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of the scores. The overall internal consistency of the scale using the Cronbachs

alpha is .87 indicating high consistency of the items. The subscale on thinking and

planning and lean culture had a marginal internal consistency and adequate for

business experience and human relations.

Table 2

Intercorrelations of the Factors of the AQuaS

1 2 3 4

(1) Thinking and Planning ---

(2) Lean Culture .39** ---

(3) Business Experience .45** .54** ---

(4) Human Relations .28** .25** .29** ---

*p


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Table 3

Fit Indices of the Different Measurement Model for AQuaS

Four

Factor

Model

Two

Factor

Model

(A)

Two

Factor

Model

(B)

One

Factor

Model

Joreskog GFI 0.86 0.815 0.827 0.803Joreskog AGFI 0.806 0.756 0.771 0.742Akaike Information Criterion (AIC) 1.641 1.994 1.922 2.110Schwarz's Bayesian Criterion (SBC) 2.258 2.529 2.458 2.629Browne-Cudeck Cross Validation

Index (BCCVI) 1.675 2.023 1.951 2.138Independence Model Chi-Square 982.437 982.437 982.437 982.437

Independence Model df 120 120 120 120

Bentler-Bonett Normed Fit Index

(NFI) 0.735 0.651 0.666 0.625Bentler-Bonett Non-Normed Fit

Index (NNFI) 0.769 0.676 0.696 0.646Bentler Comparative Fit Index

(BCFI) 0.812 0.722 0.739 0.693James-Mulaik-Brett Parsimonious Fit

Index (PFI) 0.6 0.559 0.572 0.542Bollen's Rho 0.675 0.594 0.611 0.567Bollen's Delta 0.816 0.727 0.744 0.698RMSEA 0.09 0.110 0.110 0.120Note. Two Factor Model (A)=Thinking and Planning + Lean Culture Business

Experience + Human Relations; Two Factor Model (B)=Thinking and Planning + Business

Experience Lean Culture + Human Relations

Figure 1. Four-Factor Model of AQuaS

.07*.11*.21*.19*.16*.09*.21*.23*.10*.17*.06*.09*.12*.15*.11*.10*

Thinking and

PlanningLean Culture

Business

Experience

Human

Relations

T1 T2 T3 T4 L1 L2 L3 L4 B1 B2 B3 B4 H1 H2 H3 H4

.56*

.59*

.32*

.79*

.18*

.18*


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Figure 2. Two-Factor Model of AQuaS (A)

Figure 3. Two-Factor Model of AQuaS (B)

Figure 4. One-Factor Model of AQuaS

To investigate the functioning of the items in the scale, the one-parameter

Rasch partial Credit model was used. The scale categories (4-point scale) were first

analyzed in the process to determine the threshold. Higher scale categories must

reflect higher measures and low values for lower scales, thereby producing a

monotonic increase in threshold values. The average step calibrations are, -1.18,

.12*.12*.03*.03*.15*.10*.21*.23*.10*

.15*.06*.10*.10*.12*.10*.10*

Thinking and Planning +

Lean Culture

Business experience

+ Human Relations

L1 L2 L3 L4 B1 B2 B3 B4T1 T2 T3 T4 H1 H2 H3 H4

.81*

.15*.09*.20*.23*.08*.15*.05*.09*.05*.09*.11*.08*.11*.14*.10*.10*

Thinking and Planning +

Human Relations

Lean culture +

Business Experience

H1 H2 H3 H4 L1 L2 L3 L4T1 T2 T3 T4 B1 B2 B3 B4

.72*

.11*.12*.03.03.15*.10*.20*.22*.08*.14*.05*.09*.08*.11*.08*.08*

AQuaS

T1 T2 T3 T4 B1 B2 B3 B4 L1 L2 L3 L4 H1 H2 H3 H4


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1.00, 2.35, and 3.64. All average step functions are increasing monotonically

indicating that a 4-point scale for each factor attained scale ordering where there

is a high probability of observance of certain scale categories.

To determine if the items under each domain has a unidimensional

structure, item fit mean square (MNSQ) was computed. MNSQ INFIT values

within 1.2 and 0.8 are acceptable. High values of item MNSQ indicate a lack of

construct homogeneity with other items in a scale, whereas low values indicate

redundancy with other items (Linacre & Wright, 1998).

For thinking and planning and human relations, all items showed to have

good fit. For the subscale on lean culture, only one item lacks construct

homogeneity. For the subscale on business experience, 13 items lack construct

homogeneity and 2 items are redundant.

DiscussionThe main purpose of the study is to design a tool that would measure non-

cognitive characteristics of accounting students necessary to be successful in highereducation. Four factors were proven where items are created to facilitate the

quantification of accountants characteristics. The instrument constructed turned

out to have adequate evidence of reliability and validity. The instrument is reliable

where the items are internally consistent based on high values of the Cronbachs

alpha. The scale was also evidenced to be valid based on the convergence of the

four factors. Factorial validity was established where a four factor-structure

explained the most adequate solution to fit the data supporting the characteristics

identified by Fleidner and Mathieson (2009). The items of the four factors also

showed to fit the partial credit Rasch model. This means that the items constructed

in the scale are appropriate given the range of abilities of the respondents. Fit

between the characteristics of the accounting students and the items are very muchevidenced in the factors of thinking and planning and human relations. For lean

culture, only one item did not fit. This indicates that all items are appropriate

measures given the characteristics of college accounting majors.

Having achieved internal consistency among the items indicates that there is

a similarity how the respondents answer each items within a subscale. The items are

the same in reference to the construct being measured. The participants while

answering the scale have in mind that their characteristics as accountants are being

measured. This evidence of internal consistency implies that there is a marked

coherence among the items for a given factor. This coherence served as basis for

considering the reliability of the items.

The significant intercorrelation among the factors showed that as onesubscale in the AQuaS increases, the others also increase. There is a pattern that

one factor can predict the others. This evidence of convergent validity showed that

the four factors have a commonality and refer to a general accountancy

characteristic. The convergence of the factors is consistent in both the multiple

correlations and CFA. This shows that the four accountancy characteristics have

potential to be developed even if one is weak in one area. An accounting student

who exemplifies lean culture and business experience can be expected to be good


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in human relations in business transactions and use planning and thinking to

strategies when compelled to arrive at efficient processes in their work

performance. This convergence also reflects the emphasis given in the selection of

accountants. The selection process may include a criteria that require all factors of

the AQuaS. A good accounting student can be qualified by exemplifying all four

characteristics measured by the instruments.

The four factors that include thinking and planning, lean culture, business

experience, and human relations were confirmed using a sample of 206 accounting

students. These four factors proven in the study exemplify the characteristics of

accounting students. Confirming a four-factor model for accountancy as compared

to fewer factors means that there are several characteristics considered in assessing

the important characteristics of an accountant. This provides a multidimensional

perspective in the assessment of accounting characteristics that focus on the

assessment of multiple factors, This reflects how complex the requirements are

needed for a qualified accounting student.

The model confirmed in the study is an integration of both social-cognitive

and practical experiences in order to succeed in the profession. The modelcombines a holistic perspective in assessing the characteristics of an accountant such

that it represented different broad domains such as the cognitive, social, affective,

and psychomotor. These facets are considered important in the development of an

individual and more so in the development of an accountant towards expertise. The

four factors confirmed shows that accountants social-cognitive characteristics are not

only important as in the case of thinking and planning, and human relations but the

practices that mimic the work of accountants such as lean culture and business

experience. This supports the explanation of Fleidner and Mathieson (2009) that

accountants under training needs to be provided a systems view in the world of

work.

The factor on practical inclination and lean culture also addresses the needof organizations in hiring employees that will immediately contribute to the

company. For this reason, levels of business experience and lean culture needs to

be assessed. In lean culture, employees are already expected to cooperate towards

cost cutting, waste elimination, productivity, and quality improvement. In business

experience, employees are expected to know the functions of the organization as a

whole and how one's function contributes to the larger part of the company. The

results calls for higher education institutions to strengthen the characteristics

needed to be developed among accountants.

Having identified the characteristics exemplified by accountants addresses

the concern expressed by the Accounting Education Change Commission (1990)

declaring the emphasis of certain accounting skills that is needed of accountants.Previous studies have identified characteristics of accountants and used various

models but the present tool devised in the study made an exhaustive array of items

that capture accounting students characteristics. Given the declining performance

of accounting graduates in the Philippines, there is a need to search for

characteristics needed by accounting students. These four factors that were derived

in the study can be used as guidelines in order to identify potential successful

accountants. The items in the scale showed a vast array of characteristics that


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represents the attitudes necessary to become a qualified accountant. These

characteristics can serve as indicators that determined how well potential

accountants can perform. The predisposing characteristics of the accounting

students in higher education serve as a key in predicting how successful they will be

in their future careers in accounting.

The accountability of higher education institutions in producing quality

accounting students depends much on the kind of assessment that identifies specific

levels of students characteristics. Majority of the index that determine successful

accountants are assessed through ability tests but the present study reiterated the

importance of assessing non-cognitive characteristics needed by accounting

students. In order to fulfill this purpose, a good instrument is needed to accurately

assess specific non-cognitive characteristics. This was addressed in the present study

by coming up with specific factors that can serve as criteria in determining

accounting characteristics that can detect further development and reinforcement of

specific skills. The present study provides a new theoretical typology for assessing

quality accounting skills that explains the needed skills in order to exemplify in the

field. This new typology serves three purposes: One is a diagnostic tool to assessstudents level of qualification in accountancy. Second, the tool served as a tool that

can be used by higher education institutions to report levels of skills possessed by

their accounting students. Lastly, faculty in higher education can use the results of

the instrument to reflect on the kind of intervention and instruction provided for

their accounting students.

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Author NotesThis study was part of the project on the development of the Accounting Quality

Scale funded by the Asian Psychological Services and Assessment Corporation

(APSA).

About the AuthorDr. Carlo Magno is presently a faculty of the Counseling and Educational

Psychology Department of De La Salle University, 2401 Taft Ave. Manila,

Philippines. He is presently teaching courses in statistics, measurement and

evaluation, scaling theory, and psychometric theory. Most of his studies deal with

development of measures and tools for assessment.

Documents

Assessing Higher Education Accounting Students: Development of the Accounting Quality Scale (AQuaS)