Recent Development in Accounting Education and Accounting Practice

Abstract

The objective of the study is to review the recent development in Accounting education and Accounting practice. The qualitative and library research was employed for the study. The study found that it has been found that the current accounting courses offered by several Nigerian universities are insufficient in meeting the labor market needs. Also found further that there is a significant disparity exists between employers and educators regarding the importance of graduate skills. It is therefore concluded that there should be a stronger relationship and collaboration among accounting practitioners, policymakers, and academic researchers are vital for shaping the future of accounting work and determining the type of accounting that will be practiced and studied. The study recommended that it is the responsibility of universities to establish a robust educational foundation for professional accounting training and it is imperative to reintroduce compulsory internship programs before graduation, similar to the practices in other professions like law and medicine.