Chapter 4: Data presentation and analysis
4.2 Presentation and Analysis of the Results
The research instrument was distributed to a class of 210 and 118 questionnaires were returned, representing a response rate of 56 percent. This is considered adequate, especially for population-based surveys (Spiegel, 2007). Such surveys only require approximate estimates of the relative size of the population units sampled; no mention of individuals is required as in simple random or systematic sampling (Spiegel, 2007). In terms of gender, 47.5 percent of the respondents were male and 52.5% were female.
Eight-six percent of the respondents were between the ages of 18 and 25 and 13 percent were aged 25 to 30. Ninety-nine percent of the respondents are South African, which is in line with the make-up of the class and 95 percent are Zulu-speaking and two percent Xhosa-speaking, with the remainder speaking other languages.
With the exception of the biographical information, the questionnaire was answered using a Likert scale of 1 to 5.
Table 4.1: Results for the first objective on the effectiveness of the project in developing SAICA competencies
Investigate whether the project created by UniZulu is effective in developing SAICA competencies in thirdyear accounting students.
1.Strongly disagree 2.Disagree 3.Uncertain 4.Agree 5.Strongly agree Mean Standard Deviation
5. I think the project was the best tool in developing some of the SAICA required competencies and skills.
1.7 0.8 12.7 63.6 21.2 4.02 0.728
6. I think the project covered most of the competencies and skills required by SAICA as I
understand them.
0.00 5.1 22.9 59.3 12.7 3.80 0.723
Eighty-five percent of the respondents agreed that the project was the best tool to develop some of the competencies and skills required by SAICA. This is further confirmed by the mean of 4.02 and a relatively low standard deviation of 0.728 shown in the above table.
It is consistent with Stainbank’s (2013) finding that group Accounting and Auditing projects assist students in acquiring the skills required in the Accounting profession.
Asked whether the project covered most SAICA competencies and skills, 72 percent of respondents agreed, with a mean of 3.8 and a standard deviation of 0. 723.
Cronbach’s alpha was used to test for the validity, reliability and internal consistency of the data. The Cronbach’s alpha reliability coefficient normally ranges between 0 and 1.
There is no lower limit; however the closer the coefficient is to 1, the more reliable and consistent the items on the scale (Gliem and Gliem, 2003). For the first objective the coefficient was 60.1 percent which indicates consistency as it is to closer to one (1).
Table 4.2: Results for the second objective on whether the project improved students’
understanding of the skills and competencies required by SAICA Establish students’ perceptions on
whether the projects improved their understanding of skills required by SAICA competencies.
6.Strongly disagree 7.Disagree 8.Uncertain 9.Agree 10.Strongly agree Mean Standard Deviation
7. Participating in this project has given me an idea of what is expected of me as a future Chartered Accountant.
0.8 5.1 13.6 61.0 19.5 3.93 0.782
8. I understand the importance of developing these skills and competencies during my academic programme.
7.6 57.6 34.7 4.27 0.594
9. I have been exposed to the SAICA competency framework document.
0.8 13.6 37.3 33.9 14.4 3.47 0.931
10. I understand the link between Financial Accounting, Financial Management, Auditing and Tax.
0.8 5.9 44.1 49.2 4.42 0.645
11. Participating in the project has assisted me in understanding my strengths as per SAICA
requirements.
0.8 5.1 25.4 55.1 13.6 3.75 0.784
12. Participating in the project has assisted me in understanding my weaknesses as per SAICA requirements.
2.85 14.4 55.1 22. 3.91 0.837
13. Participating in the project has provided guidance on how I should learn as a future Accountant.
0.80 4.2 16.1 60.2 18.6 3.92 0.769
14. I understand SAICA’s competencies and skills
expected from me to become a successful Chartered Accountant (SA).
7.6 16.1 50.8 25.4 3.94 0.850
15. I understand the importance of working in teams.
1.7 2.5 10.2 36.4 49.2 4.29 0.878
Nine questions were posed to fulfill objective two which was to determine whether the project improved students’ understanding of the skills required by SAICA competencies.
The respondents responded positively with a mean of more than three and the lowest standard deviation. Eight-one percent agreed that participation in the project gave them a clear understanding of what is expected of them as an accountant; this was confirmed by a mean of 3.93 with a standard deviation of 0.782. Ninety-two percent of the respondents agreed that the project assisted them in understanding the importance of developing these competencies for the profession, with the highest mean and the lowest standard deviation. According to Lindner et al. (2009), a student must have certain
knowledge, abilities and skills in order to complete a certain qualification (Lindner et al., 2009). However, it is important that they also understand the expected outcomes or expectations, Power et al. (2014) highlighted the importance of students being aware of such expectations in order to achieve high levels of performance.
Stainbank (2013) found that the group project for Accounting and Auditing at the University of KwaZulu-Natal assisted students in understanding the relationship between Financial Management, Financial Reporting, Auditing and Tax. Similarly, in the current study, 69 percent of the respondents affirmed that the project assisted them in understanding the relationship between these four subjects, with a mean of 3.75 and a standard deviation of 0.769. Kolb and Kolb (2009) state that a higher level of learning is achieved when connections are made between ideas.
Eight-six percent of the respondents agreed that the project helped them to understood the importance of working in teams, with a mean of 4.29 and a standard deviation of 0.878. This is supported by Razzouk et al. (2015) who observe that group work develops team work skills among higher education students, although they also noted that not all students are willing to work as part of a team.
Seventy-nine percent of the respondents agreed that participating in the project provided guidance on how they should learn as a future Accountant, with a mean of 3.92 and a lower standard deviation. This is consistent with Abeysekera’s (2011) statement that active learning should be encouraged in Accounting as students learn more by doing and this equips them for the business environment.
Finally, 76 percent of the respondents affirmed that they understand the competencies and skills required by SAICA to become a successful CA (SA), with a mean of 3.94 and a lower standard deviation.
The Cronbach Alpha coefficient is 72 percent which is closer to one (1). There is thus internal consistency and validity in the given data.
Table 4.3: Results for the third objective to ascertain students’ perspectives on whether the project assisted in developing the skills and competencies required by SAICA
Ascertain students’ perceptions on whether the project assisted them in developing the skills and competencies required by SAICA.
11.Strongly disagree 12.Disagree 13.Uncertain 14.Agree 15.Strongly agree Mean Standard Deviation
16. I understand the importance of making decisions in the business world.
15.3 50.0 34.7 4.19 0.683
17. I have seen the full annual report of the real company. (Do not consider small sections from book or class examples).
0.80 8.5 32.2 58.5 4.48 0.689
18. I have been exposed to a full annual report of the real company.
4.2 6.8 36.4 52.5 4.37 0.793
19. I have been exposed to a good written business report.
1.7 4.2 11 49.2 33.9 4.99 0.877
20. I can write a good written business report.
4.2 16.1 39.8 33.9 5.9 3.21 0.932
21. I can communicate my points efficiently.
1.7 5.9 25.4 62.7 4.2 3.62 0.739
22. I can use Microsoft Word with ease to write a business report
3.4 5.1 26.3 42.4 22.9 3.76 0.976
23. I find working in teams easy. 12.7 20.3 21.2 33.9 11.9 3.12 1.235 24. I believe working in teams is the
most effective way to achieve best results.
5.1 7.6 14.4 48.3 24.6 3.8 1.059
25. It is easy for me to make
decisions about the performance of the company based on the information provided by the annual report.
1.7 7.6 19.5 55.1 16.1 3.76 0.874
26. I can make a decision on
whether to invest or not to invest in the company based on its annual report.
0.8 8.5 19.5 43.2 28 3.89 0.941
27. I can tell whether the company’s position is improving, stable or deteriorating by examining the company’s set of financial statements.
0.8 1.7 12.7 51.7 33.1 4.14 0.765
28. I am able to identify the risks faced by the company by examining the set of financial statements.
10.2 14.4 56.8 18 3.84 0.847
29. I understand the importance of Corporate Governance in the real world.
1.7 0.8 15.3 39.8 42.4 4.2 0.853
30. I understand the importance of ethical matters in the real business world.
2.5 9.3 3.9 4.32 0.846
The table shows that 85 percent of the respondents agreed that the project assisted them in understanding the importance of making decisions in the business world, with only 15 percent uncertain. The mean is 4.19 and the standard deviation is lower at 0.683. This concurs with Morgan (1976) who states that projects equip students with problem solving skills. Problem solving and decision-making work together and Turner and Baskerville (2013) note the need to develop such skills as well as critical thinking in the Accounting curriculum.
Ninety-one percent of the respondents agreed that they had seen the full annual report of a real company through the project, with a mean of 4.5 and a lower standard deviation.
Morgan (1976) observes that learning is effective when students are exposed to real life situations in the form of a project.
Furthermore, 40 percent of the respondents agreed that the project developed their report writing skills, with a mean of 3.21. The mean was a bit lower than the other questions;
however, it should be acknowledged that this skill is expected to develop on an on-going basis, as one gains experience in report writing. The standard deviation is low at 0.932 with 40 percent of the respondents remaining neutral. This question goes together with the one on developing the ability to communicate points effectively. According to Casner-
Lotto and Barrington (2006), report writing skills, is one of the deficiencies identified by employers among new entrants to the job market. They add that writing and advanced reporting at professional level not only requires understanding of language and the ability to put words together, but critical thinking and deep understanding of the subject matter (Casner-Lotto and Barrington, 2006). It integrates problem solving and the ability to decide what needs to be communicated (Kellogg, 2008). Kello thus observes that learning to write should be regarded as something which matures with experience in a specific field. It should also be noted that English was a second language for all the study respondents. According to Kroll (1990), among second language speakers, writing in English is seen as an act of habit formation, with the learner simply manipulating previously learned language structures (Kroll, 1990).
Only 65% of the respondents affirmed that they could use Microsoft Word with ease to write a business report. This is acceptable considering the high mean of 3.76 and a standard deviation of 0.739. According to SAICA (2016), it is vital that CA candidates are adequately trained to use IT and understand its impact on the life of a CA.
The findings show that only 46 percent of the respondents agreed that they found it easy to work in teams, while 33 percent disagreed with this statement and 21 percent were unsure. This concurs with Razzouk et al.’s (2015) observation that not all students embrace team work; it is hence difficult for the assessor to assess group participation.
Tsay and Brady (2010) state that people’s attitudes to team work are influenced by many factors, including background, socio-economic status and cultural beliefs and that competitiveness among team members also demotivates students. However, 72 percent of the respondents agreed that working in teams is one of the most effective methods to achieve results even though they might find it difficult to do so.
Seventy-one percent of the respondents agreed that it is easy to make decisions about the performance of a company based on the information provided in the annual report, with a mean of 3.76 and a lower standard deviation. This concurs with Stainbank’s (2013) finding that students felt that the group project made it easier to analyse the company based on the annual report.
Seventy-one percent of the respondents also agreed that they could make a decision on whether or not to invest in a company based on its annual report, with a mean of 3.89 and a standard deviation of 0.941. Abeysekera (2011) and SAICA (2016) note that Accounting students need to be trained to be able to make decisions that are critical in the real business world. Furthermore, 85 percent of the respondents agreed that the project equipped them to tell whether or not a company’s position is improving, stable or deteriorating by examining its financial statements.
Seventy-five percent of the respondents agreed that they were able to identify the risks faced by the company by examining the set of financial statements, with a mean of 4.14.
According to SAICA (2016), a CA must be trained to analyse financial statements, identify the risks and devise appropriate risk management strategies to assist the company and increase shareholders’ value.
Eighty-two percent of the respondents agreed that the project assisted them in understanding corporate governance. This is one of the competencies that SAICA requires the academic program for CAs to cover.
Finally, only 4% of the respondents agreed that they understood the importance of ethical matters in the real business world. This is of concern as, according to SAICA (2016, p.
34), candidates are expected to adhere to the law, professional standards and the rules of professional conduct when exercising professional judgement. All professionals are expected to abide by the ethical rules of their organisation (SAICA, 2016).
The Cronbach Alpha coefficient is 78 percent, indicating internal consistency and validity as it is closer to one (1).