Abstract
The purpose of this research is to examine the impact of self assessment (SA) and peer assessment (PA) in accounting and finance (A&F) education by gathering insights from students and professors in the same field of higher education. A qualitative approach was taken to gather insights, students were asked to perform SA and PA to do an online questionnaire to understand their perception about the same. The professors were interviewed to analyse their perception about SA and PA. Previous studies have suggested that the accounting graduates lack certain skills that are required by the employers and this has led to a decline in their employability rates (AICPA, 2017). Much of the current literature emphasis on the need for developing soft-skills among A&F education through active learning approaches (Setyaningrum, Muktiyanto, & Hermawan, 2015) which can arguably be obtained by applying different measures including SA and PA. It was found that the students were more positive towards the concept and believed that such methods would be beneficial in having a better understanding of the subjects to enhance deep learning and also develop critical thinking skills when evaluating independently. Whereas the professors expressed a mixed opinion, neither completely agreeing nor disagreeing to the fact that it can create positive impact in A&F education, pinpointing various complications that might influence the outcome.
Highlights
Assessment activities play a significant role in the education system
It was found that the students were more positive towards the concept and believed that such methods would be beneficial in having a better understanding of the subjects to enhance deep learning and develop critical thinking skills when evaluating independently
The first part will analyse the information gathered from the students which were based on the questionnaire survey while the second part will analyse the perception of the professors who teach A&F based on the information gathered from interviews
Summary
Assessment activities play a significant role in the education system. As noted by Apostolou, Dorminey, Hassell, and Hickey (2019) the assurance of learnings represents a dominant focus in accounting education. The importance of those assessment activities has been agreed upon in different disciplines including accounting (Healy, McCutcheon, & Doran, 2014). The assessment process acts as a motivator to students’ efforts and, as a result, students can be encouraged to actively engage in the learning process. Students may not be well engaged in the learning process and the whole process would be of less value (Nicol & Macfarlane-Dick, 2006; Healy et al, 2014)
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