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Accounting Educaton
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The status of accounting education
• A part of commerce education • professional education • needed by every business small or large • can not be acquired without peofessional
guidamce
Features
• systematic • scientific • technical • prfessoinal • basic commerce education • standardised • governed by regulation • combination of skills and technique
Dimensations
• regulated by laws of the land • governed by scientific principles • universal laws like natural scineces • mathematical base • logical in application
Need for education in accounting
• Improves quality of recording of financial data • proper assessment of wealth creation ‘ • proper assessment of resource generation • systematic development of business systems • new ways to look at busiess and economy • socially responsive approach to businees
activities • regulation of busiess activities • enhancement of faith in busiess and economy
Present scenario
• educational aspects • social dimension • professional dimension • regulatory dimension • technology as a change agent • international dimension
International dimensions
• growing impact of mnc • emergence foreign trsde as major input • technology driven • diversified regulations scope for manipulation • international pressures to integrate and unify
accounting systems • need for unified accounting standards
Technology as CHANGE AGENT
• impact of system driven technology• impact of automation • intergradation of multiple functions • close-knit system of data processing • less scope for human intervention • transfer of power from expert accountant to
expert data processing systems
Social dimensions of accounting education
• Growing disbelief about profits created by business house
• the idea of true and fair view is doubted • increase volume of economic activities • rapid increase in financial literacy • growing complexities of regulation • growing skepticism abut government
published finacial and monetary data
Universities as educators of accounting education
• since beginning • still offer ug and pg programmes • facing competition from different sectos and
agencies • loss of credibilty • loss of relevance • challenge of professional applicability and
relevance
Can universities continue as educators of accounting
• the challenge is mounting • growing competition from different corners • conventional system of learnig • limited coverage • less application oriented • less acceptability • last preference from employers
What needs to be done ?
• improve contents • change approach • revise curricula • reengineer the system • convergence with new systems • more employer friendly • acceptability should improve
Can universities stand to the challenge
• the mixed response is based on following premises
• the system is less dynamic • governed by stake holders with conflicting
interest • Less dynamic and unprofessional in approach • Cannot meet continuous changes in the
system
Professional dimension
• challenge parallel educational institute like cfa and other bodies
• challenge rapidly changing economic scenario • growing complexities of thchnology • high level integration of finance , economy ,
and banking • new challenges of international standards