Examiners have identified gaps in certain substantive and technical skills when analyzing student responses to the South African Institute of Chartered Accountants (SAICA) Initial Test of Competency (ITC). The project aims to develop the personal characteristics and professional skills set out in the SAICA Competency Framework. The results of the study, which are supported by the literature, indicate that working with projects is a more effective tool than lectures to develop these skills and increase students' understanding of the demands of the profession.
1 Results for the first objective on the effectiveness of the project in developing SAICA competences. 3 Results for the third objective to determine students' perspectives on whether the project helped develop the skills and competencies required by SAICA.
Introduction
- Introduction
- Background to the study
- Objectives of the study
- Research questions
- Significance of the study
- Outline of the dissertation
- Chapter Summary
The project consists of the accounting, financial management and audit components of the B.Com. Investigate whether the project created by UniZulu is effective in developing SAICA skills in third year accounting students. Establish students' perceptions of whether the project improved their understanding of the skills required by SAICA competencies.
Determine students' perceptions of whether the project helped them develop the skills and competencies required by SAICA. The second chapter presents the theoretical framework used for this study and a review of relevant empirical literature.
Literature Review
- Introduction
- Theoretical framework
- Empirical evidence
- Competencies required
- Using projects for learning
- Learning and Accounting students
- Conclusion
- Chapter Summary
The most important element of the creative side of critical thinking (improving thinking) is the restructuring of thinking as a result of its analysis and effective evaluation (Paul and Elder, 2005). However, Parsley and Parsley (1996) are of the opinion that the competency-based approach to teaching Accounting assumes a standardized approach where one moves from one level of development to another. The examiners' comments on Part 1 of the Qualifying Examination (QE 1) in 2012 highlighted the need to change the way Accounting is taught.
These comments highlight the lack of soft skills (communication, logical thinking, problem solving and innovation) and general business skills (understanding the business environment) that are important in a professional work environment. Kellogg notes that copywriting requires a deep understanding of the content as well as an understanding of who you're writing for and the problem you're trying to solve. Students who participated in Smit and Steenkamp's (2015) research proposed several projects and tasks to develop communication, innovation, environmental understanding and teamwork.
He emphasizes that at the end of the project, different solutions are discussed and constructive criticism is encouraged to have an objective view. The goal of the project was to develop competent medical students who are able to integrate acquired knowledge and practice in an ethical and socially responsible manner. Abeysekera (2011) is of the opinion that accounting education in tertiary institutions has not responded effectively to changes in the business environment, emphasizing the need to move from traditional teacher-centered teaching methods to active learning.
Iqbal, Ishaq, Habibah, Sidra and Ismail (2017) argue that one of the reasons a student enrolls in university is to access learning and intellectual development that will guarantee a good job in the future (Iqbal et al., 2017). The methods used by Turner and Baskerville (2013) enabled students to gain a deep understanding of the accounting statistics provided and make economic sense of them rather than taking the numbers at face value. More than 70 percent of students who participated in Van der Berg's (2000) study defined critical thinking as argumentation and critical evaluation, with 20 percent taking the view that it means finding fault with what others say. performance requires critical thinking using information gathered from various sources. 2005) warns that the inquisitive mind that learning through projects is expected to nurture in students can be diluted if well-structured questions with known expected solutions are asked (Chin and Chia, 2005).
Methodology
- Introduction
- Research approach/ paradigm
- Population
- Sampling technique and sample size
- Data Collection
- Research instrument
- Data collection procedure
- Data analysis
- Data reliability
- Data validity
- Chapter Summary
It is desirable to conduct an extensive literature review at the beginning of the study in order to justify the need to investigate a particular issue. It is important to note that the results will be significantly affected by the choice of target population (Lohr, 2009). A sample is a subset of the target population on which the study is based to reach conclusions about the population (Creswell, 2014).
Stratified sampling involves dividing the population based on specific characteristics and then using random sampling from each subgroup of the sample. In convenience sampling, participants are selected based on their availability and willingness to participate in the study (Creswell, 2014). Finally, snowball sampling is an alternative to convenience sampling and involves the researcher asking participants to identify others who might be willing to participate in the study (Lohr, 2009).
Some researchers call it purposive sampling as the researcher relies on his/her knowledge of the population (Dattalo, 2008). With the exception of biographical information, the questionnaire was based on a Likert scale ranging from 1 (strongly disagree) to 5 (strongly agree). As discussed above, this study used a questionnaire that was distributed to students by the research assistant at the beginning of the lecture.
Descriptive statistics were used and frequency distributions, means and cross-tabulations - the relationship between two variables - were determined. Steps were taken to ensure the integrity of the data provided by the students and an appropriate analysis strategy was used. This increased the degree to which the test measured students' perceptions of the project's effectiveness in developing SAICA competencies (Stainbank, 2013).
Data presentation and analysis
- Introduction
- Presentation and Analysis of the Results
- Further Data Analysis
- Chapter Summary
Eighty-five percent of respondents agreed that the project is the best tool to develop some of the competencies and skills required by SAIGR. Ninety-two percent of respondents agreed that the project helped them understand the importance of developing these competencies for the profession, with the highest mean and the lowest standard deviation. Similarly, in the current study, 69 percent of respondents confirmed that the project helped them understand the relationship between these four subjects, with a mean of 3.75 and a standard deviation of 0.769.
-Six percent of respondents agreed that the project helped them understand the importance of teamwork, with a mean of 4.29 and a standard deviation of 0.878. Seventy-nine percent of 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. The table shows that 85 percent of respondents agreed that the project helped them understand the importance of decision making in the business world, with only 15 percent unsure.
Ninety-one percent of 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. Additionally, 40 percent of respondents agreed that the project developed their report writing skills, with a mean of 3.21. 82 percent of respondents agreed that the project helped them understand corporate governance.
Finally, only 4% of respondents agreed that they understand the importance of ethical matters in the real business world. In the 18-21 age category, 45 out of 54 respondents (83 percent) agreed that the project was the best tool for developing the competencies required by SAICA. Forty-seven of the 54 respondents (87 percent) in the 18-21 age group agreed that the project helped them understand the importance of teamwork.
In the 18-21 age group, 44 of respondents (81 percent) agreed that the project developed good report writing skills, while among those aged 22 to 25, 39 of 48 respondents (81 percent) agreed with this statement. In the 18-21 age range, 39 out of 54 respondents (72 percent) agreed that the project developed their ability to get their points across effectively.
Summary, Conclusions and Recommendations
- Introduction
- Summary
- Findings
- Conclusions
- Recommendations
- Limitations of the study
- Suggestions for further research
- Possible limitations for a broader study
Students who participated in Stainbank's (2013) investigation of a team project in Accounting reported that it helped them understand the relationship between Financial Management, Financial Reporting, Auditing and Taxation, which is one of the requirements of the SAICA competency framework . Students who participated in Stainbank's (2013) study reported that, in addition to other skills, participating in a group Accounting project increased their understanding of the relationships between four specific competencies; provided practical experience of an annual report; provided the opportunity to work and share knowledge as part of a team; and facilitated the development of other interpersonal skills. In terms of the first objective whether the project created by UniZulu is effective in developing SAICA competencies in third year Accounting students, 85 percent of respondents agreed that this was the case.
The second objective was to determine students' perspectives on whether the project improved their understanding of the skills required by SAICA. Statistical analysis revealed that only 48 percent of respondents had been exposed to the SAICA Competency Framework. However, data analysis revealed that many of the respondents still could not write a good business report and communicate their points effectively.
As part of the Department's normal teaching programme, lecturers should emphasize the importance of the 'SAICA competencies' required for students. This is the questionnaire behind the project to assess students' levels of awareness of the competencies (knowledge and skills) which SAICA considers necessary for students to progress into the Chartered Accountant (SA) career. You are asked to complete this questionnaire after the completion of the project to enable the researchers to evaluate the effectiveness of the project.
I think the project was a best tool in developing some of the SAIGR required skills and competencies. I think the project covered most of the competencies and skills required by SAIGR as I understand it. It is easy for me to make decisions about the performance of the company based on the information provided by the annual report.
