ACCOUNTING EDUCATION STUDENT NEED IN LEARNING FINANCIAL ACCOUNTING IN COLLEGE OF EDUCATION IKERE-EKITI
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TABLE
OF CONTENTS
Title page
Approval page
Certification
Dedication
Acknowledgements
Table of contents
Abstract
CHAPTER ONE: INTRODUCTION
Background of the study
Statement of the problem
Purpose of the study
Significance of the study
Scope of the study
Research questions
CHAPTER TWO
REVIEW OF RELATED LITERATURE
Introduction
Concept framework
CHAPTER THREE
RESEARCH METHODOLOGY
Research Design
Population of the study
Sample and sampling techniques
Research instrument
Validation of the instrument
Administration of the instrument
Data analysis
CHAPTER FOUR
DATA ANALYSIS AND DISCUSSION OF FINDINGS
CHAPTER FIVE
DISCUSSION OF RESULTS, CONCLUSIONS
RECOMMENDATION AND SUMMARY
Summary
Conclusion
Recommendation
REFERENCES
Appendix A: Letter of Introduction
Appendix B: The Research Questionnaire
ABSTRACT
This
research work is carried out on Accounting Education Student Need in Learning
Financial Accounting in College of Education, Ikere-Ekiti. In carrying out this
research work, the researcher adopted the use of questionnaire in order to get
the correct information necessary on what Accounting Education student need in
learning financial accounting. The questionnaire was conducted and consist of
two section. The first section was on personal information about the respondent
covering the areas of Name, Class, Sex, The second section deal with
questionnaire it contain two variables Yes or No.
CHAPTER
ONE
INTRODUCTION
Background
of the study
Accounting
is the process of recording, classifying, selecting, measuring, interpreting
and communicating, financial data of an Organization to enable users make
decision. It incorporate measurement and reporting of profit and loss. An
accountant must not only be interested in record keeping alone but in the
application of his profession competency or knowledge and skill in presenting
accounting information to assist management decision making. Accounting is
identified as a process as it performs the specific task of collecting,
processing and communicating financial information.
Also
accounting is an art of recording, classifying, summarizing and finalizing the
financial data. The word art” refers to
the way of performing something. It is a behavioural knowledge involving certain creativity and skill that may help to
attain some specific objectives.
Accounting
as a means to an end finds out the financial result and position of an entity
at the same time, it communicates this information to it users. The users then
take their own decision on the basis of such information so, it can be said
that more keeping of accounts can be primary objective of any person or entity
Accounting
deals with financial information and transactions; accounting records the
financial transactions and data after classifying the same and finalizes their
results for a definite period for conveying them to their users. Accounting is
recognized and characterized as a store house of information. As a service
function, it collects processes and communicates financial information of any
entity. This discipline has been evolved out to meet the need of financial
information required by different interested groups.
Accounting
can be used for the following:
-
Decision making
-
Provision for permanents records for all
transactions
-
Determination of profitability of a
business concern
-
Used for tax assessment
-
Prevention of fraudulent practices
-
Provision for means by which the
finances of a business are controlled
-
It shows the income and expenditure
-
The assets and liabilities are shown by the
accounting records
There is no accurate record as to when
accounts started, but available information suggested that record keeping is as
old as man. The starting point can be linked to the merchants in the Babylonian
and Assyrian civilizations, about 4000 year BC. The modus operandi for keeping
records then was to make marks on the wall or stone or papyrus or wax tablets.
The methods of keeping financial records was highly primitive.
The
history of accounting is not complete without mentioning the name of an Italian
Monk and Mathematician LUCIA PACIOLO in
1494, the crucial event in accounting was the introduction of double entry book
system in Italy describe as “Italian Method”. In his famous treatise Sumina De.
Arithmetical Geometrical proportion et proportionalita in 1494 in Venice,
Reverend father Lucca Paciolo described the double entry system by giving
insight into the reasoning behind accounting records. He postulated that all
entries must have double-entry one debtor, and one a creditor. Even though
during this period the records were prepared to show statement for the business
rather than the owner, but the yearly preparation was still lacking.
After
Paciolo, a Dutchman advocated the profit and loss account at yearly interval.
The level of civilization and technology advancement helped in the development of
modern methods of accounting.
During the industrial Revolution,
Different professional bodies were formed e.g. Institute of Chartered
Accountants of Nigeria (ICA) Scotland in 1854, Institute of Chartered
Accountant (ICA) England and Wales in 1880,
and Association of public Accountants in USA in 1887.
Accounting
also entails providing a company’s management with the information it needs to
keep the business financially healthy. These analyzes and reports are not
distributed outside of the company some of the information will originate from
the recorded transactions but some of the information will be estimates and
projections based on various assumption.
Today
much of the recording, have been automated as a result of the advances in
computer technology. Financial Accounting is focused on keeping the books for
companies, these records are used to present to the outsides world. To do this
you start off by learning the basics calculations and the required journal
entries (which you use to keep track of all the dealings of the company).
Accounting
programs should ensure that students have the rudimentary tools they need to
succeed in the accounting profession. Accounting circular, however, are being
criticized for not focusing enough on
values, ethics and integrity (Albrecht &Sack, 2000) past incident of
unethical behaviour in the accounting profession echo the need for ethics in
accounting education. During the first few years of ethical challenges. How
will they react if they have not been taught to handle such situations? Chan
and Leung (2006) reported that student may have the ability to determine what
is ethically right or wrong, but may fail to behave ethically due to an inability
to identify ethical issues.
Accounting
educators must no longer argue that restrictions on programs, cost and the lack
of resources prohibits a course in accounting
ethics clearly, the most severe threat to the accounting profession
deserves more attention.
Many
accounting programs continue to struggle with how to effectively include ethics
into their curriculum
-
Learning
Strategies: selecting and using training / instructional
methods and procedures appropriate for the situation when learning or teaching
new things
-
Active
Learning: Understanding the implications of new information
for both current and future problem, solving and decision making
-
Social
Perceptiveness: Being aware of others reactions and
understanding why they react as they do
-
Coordination:
Adjusting actions in relation to other’s actions
-
Persuasion: Persuading others to change their minds or
behaviour
-
Operations
Analysis: Analyzing needs and product needs and product
requirements to create a design.
The purpose of this
study is to determine the Need in Learning Financial Accounting by Accounting
Education Students College of Education, Ikere-Ekiti.
Information technology has created significant benefit for
accounting departments. Information and computer systems have shortened to
prepare and present financial information for management and stakeholders. The
trend in information communication technology has affected the quality of
education received by accounting education students.
Despite the revolution of information communication technology
on daily lives, schools are very low in adapting to great resources. The
accounting education programmes of most schools like Universities, Polytechnic
and College of Education, fail to include the knowledge of accounting packages
like, Microsoft Excel, Microsoft Access, Sage Accounting and peach Tree
Accounting.
Microsoft Excel is an electronic spreadsheet programme that can
be used for storing, organizing, and manipulating data. It helps in inventory
management and it is highly suitable for preparing an organization payroll. In
the same vein, peach tree accounting packages help the recipients develop
skills in management information system. The training in peach tree accounting
packages exposes the trainees to the knowledge of inventory management records
as well as management of system frauds. Similarly the sage Accounting Scheme
encourages accounting trainees of all sizes to become Information Communication
Technology specialists knowledge of sage accounting packages enhances good credit
control in an organization by guidance of preparation of control account as a
result of a good design of nominal records. In conclusion Microsoft Access
exposes the learners to the basics in the data base creation of tables option. The trainee acquire skills
in production of works like students, bank and organization’s forms are
designed using Microsoft Access.
Statement
of the problem
FOR COMPLETE PROJECT CALL 07064961036
Purpose
of the study
The
main purpose of this study is to ascertain
the skills that graduates of accounting education in higher institution
like College of Education would need in learning financial accounting.
Specific
objectives
1. To
ascertain whether Microsoft Excel sub skill would be part of the need of
accounting education students in leaning financial Accounting
2. To
determine whether sage accounting sub skill in part of the need of accounting
education students in learning financial accounting
3. To
ascertain whether peach tree accounting sub skills is part of the need of
accounting education students in learning financial accounting.
4. To
determine whether the level or requirement of Microsoft access accounting sub
skills would be part of the need of accounting education students in learning
financial accounting.
Significance
of the study
Students
will be equipped with fundamental accounting skills and principles necessary
for preparation of books of accounts and financial statements.
Scope
of the study
This
study is significant in that;
1
It would highlights specific ICT skills
need by graduate of accounting education
2
Enable the administrators of accounting
education in College of Education to plan for equipping of accounting education
laboratories
Research
Questions
In
order to achieve the objectives for which this study was carried out the following
research questions were generated
1
Would Microsoft Excel sub skill be a
need for Accounting Education Students?
2
Could sage accounting sub skill be a
need for Accounting Education students in learning financial accounting
3
Would peach tree accounting be a need of
Accounting Education students in learning financial accounting?
4
Would Microsoft access be a need of
Accounting Education Students in learning financial accounting?
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