Accounting Skills Research Articles

ACCOUNTING OPTIMISED SKILL SET AND THE FOURTH INDUSTRIAL REVOLUTION - THE VIEW OF PROFESSIONAL ACCOUNTING BODIES

The digital transformation of the accounting field is triggering a reconfiguration of the optimized skill set that is required of practitioners worldwide. Emerging technologies have set foot into accounting daily processes, triggering the need that practitioners upskill their digital competences, while also emphasizing the relevance of soft and technical skills. The optimal accounting profile, adapted to the needs of the Fourth Industrial Revolution is being analyzed in the current paper through means of a thematic literature review of the reports of professional accounting bodies. Professional accounting bodies are key change-agents that enable the optimization of financial activities and help organizations improve activities and reach their goals. In this sense, they provide the most updated information in terms of skills and competencies required of accounting practitioners. The results of the literature review present three distinct skill categories. The three groups consist of technical skills, meaning traditional accounting skills, soft skills, meaning cognitive related and behavioral skills, and lastly the study addresses the topic of digital skills which are a direct result of technological innovations in the field. The digital skill group is being validated as an individual group through the recurrence and the interest that literature of accounting bodies has on these skills.

Entrepreneurial Accounting as a Driver of SMEs’ Sustainability: A Systematic Review

Purpose: This paper conducted a systematic review of entrepreneurial accounting (EA) articles published over the last ten years (2012 – 2022). Using the Systematic Qualitative Assessment Techniques (SQAT) to review 79 EA journal articles to provide an understanding of the antecedent and importance of the concept on business venture survival or otherwise.
 Methodology: This paper analysed the time distribution, geographic distribution, theory used, article type, data collection methodologies and themes of the EA article reviewed.
 Findings: The key findings show that EA interest has increased in Asia and Africa over the last decade, while Oceania (Australasia) were least represented. The most striking theme out of the five identified is the impact of EA as the heart of business ventures’ sustainability, while the resource-based theory was most used to provide a clear understanding of the concept of the need for inherent management and cost accounting skills.
 Implications: Findings from the review confirm the importance of entrepreneurial accounting (EA) in SMEs as scholarly work has increased in recent times in the most developing economies, especially in Asia and Africa. This study recommended that EA skills should form part of the funding requirements for start-ups in accessing finance.
 
 Keywords: entrepreneurial accounting, systematic review, sustainability, financial literacy.

Coding Skills in the Automation of Accounting Processes

Abstract Research background The evolution of technologies nowadays gives a higher impact on all sectors, including accounting. With rapidly growing volumes of data available, coding can be a valuable skillset for accountants to derive insight and value for organizations from accounting data. Purpose The objective of this paper is to identify the benefits of coding skills among accounting professionals, especially in the area of the automation of processes. In addition, the paper discusses some barriers to developing coding abilities. Research methodology The research study analyzed a sample of 160 respondents from around the world. The study used a questionnaire. A principal axis factor analysis with the Promax rotation was conducted to assess the underlying structure for the points of the questionnaire. Results The results showed that accountants should possess at least some basic skills in coding. The top benefit of coding skills by accountants, as perceived by the respondents, was the possibility to automate repetitive tasks, data reporting, and visualization. The top barrier to coding skills by accountants, as perceived by the respondents, was a lack of time and knowledge of what software skills to acquire and how. Novelty This research contributes to the literature by exploring the benefits of and barriers to coding in the accounting field. The findings can be useful for financial professionals and adepts to understand the benefits of coding skills in accounting.

Analysis Of The Application Of Financial Accounting Standards Of Entities Without Accountability Public At The Cooperative Of Employees Of The Republic Of Indonesia

Financial reports are formal reports of the financial activities of an entity including cooperatives and are prepared as a management responsibility to internal and external parties. Generally Accepted Accounting Standards are still difficult for cooperatives to apply because existing standards are more specific to large entities and have public accountability. IAI has issued Standard Financial Accounting for an entity without Public Accountability or known as SAK ETAP. SAK ETAP is intended to accommodate the needs of an entity that has significantly no accountability to operate on a Small and Medium Enterprises (UKM) and cooperative basis. This study aims to evaluate the implementation of SAK ETAP in the Financial Report of KPRI Padangsidimpuan City. KPRI Padangsidimpuan City is a cooperative engaged in the savings and loan sector. The research method is descriptive comparative by comparing primary and secondary data. It was found that the cooperative's financial reports in 2021 did not comply with the SAK ETAP principles and several reports had not been presented such as the Cash Flow report and Report of changes in equity. This is due to the limited accounting skills acquired by its human resources.

Fostering social skills in the Flemish secondary accounting education: perceived challenges, opportunities, and future directions

ABSTRACT The accounting profession no longer merely accentuates hard accounting skills, but also increasingly soft social skills. Previous studies have shown that teamwork, communication, leadership, and critical thinking skills became indispensable. Because accounting education is no longer aligned with these needs of the profession, a skills gap has arisen between the competences graduates possess, and the competences employers demand. We will answer the call of scholars and policymakers to investigate social skills from early on, in secondary education. The research objective is twofold. First, it examines which types of social skills are being addressed in secondary accounting education. Second, it focuses on the challenges and opportunities experienced by accounting educators when addressing social skills. We answer this research objective via semi-structured interviews with 14 Flemish educational stakeholders who represented three educational levels (i.e. microlevel accounting teachers, mesolevel pedagogical counsellors, and macrolevel policymakers), hereby accommodating a multivocal perspective. Results revealed that teamwork and communication are emphasized more frequently than leadership and critical thinking. Second, teachers identified various challenges and opportunities, such as overcrowded curricula, student diversity, and complex social skills assessment. Important implications for accounting educators wanting to enhance students’ future employability by stimulating their social skills are discussed.

The Importance of Learning English Literacy for Accounting in Higher Education: Benefit and Drawbacks

This qualitative research aims to explore the importance of learning English literacy skills for English as a Foreign Language (EFL) accounting students in higher education. The data were collected through in-depth interviews, focus group discussions, and document analysis, and analyzed thematically. The findings indicate that developing English literacy skills offers numerous benefits for EFL accounting students, such as building literacy competence, enhancing employability, improving communication skills, facing globalization, understanding accounting terms and subjects, and identifying errors in accounting. However, the study also identified some drawbacks, time and effort including, Balancing Language Learning with Technical Accounting Skills Development and linguistic difficulties and frustration. The study suggests that educational institutions and policy makers should develop comprehensive strategies that support EFL accounting students in acquiring English literacy skills while addressing the potential challenges they may encounter. These findings have important implications for accounting education, highlighting the need to provide adequate resources and support to EFL accounting students to help them develop their English literacy skills and succeed in their academic and professional pursuits

Do Internal Control Weaknesses Affect Firms’ Demand for Accounting Skills? Evidence from U.S. Job Postings

ABSTRACT In this study, we examine whether firms respond to internal control weaknesses (ICWs) by requiring accounting-specific skills when hiring rank-and-file employees. Using unique data containing an extensive collection of job postings, we document significant increases in firms’ job postings that list accounting skills after the disclosure of an ICW. This effect is more pronounced for firms with better financial resources and when ICWs are more severe or personnel-related. In addition, our results extend to employees that are not specifically designated as accountants, suggesting a broader role for rank-and-file employees in influencing internal control quality. Finally, we find that increases in job postings with accounting skill requirements are associated with improvements in internal controls and a higher likelihood of ICW remediation. Overall, our findings shed new light on how firms respond to ineffective internal controls by increasing their emphasis on accounting skills in their workforce. Data Availability: Data are publicly available from the sources identified in the text. JEL Classifications: G30; J23; M41; M42.

Digital-Based Basic Accounting Training for Accounting Students at SMK N 1 Pangkalpinang (Series: 2)

Basic digital-based accounting skills, especially operating accounting computer applications, is a challenge for students majoring in accounting at SMK N 1 Pangkalpinang, given the ever-evolving application technology. The training we carry out can support students to improve their skills. Series training: 2 uses an accurate educational series application. This training consists of understanding and operating order financing with an accounting computer, analyzing return merchandise authorization (RMA), analyzing memorize transactions and recuring, operating file menus on an accounting computer, and operating reports with an accounting computer. Digital-based basic accounting training for students majoring in accounting at SMK N 1 Pangkalpinang (series: 2) has been successfully implemented, as seen from the ability of the trainees to operate accounting computer applications (accurate) and are able to make financial reports with accounting computers.

FORENSIC ACCOUNTING SKILLS REQUIRED BY ACCOUNTING EDUCATION GRADUATES FOR EFFECTIVE ACQUISITION OF FRAUD DETECTION SKILLS

The study was carried out to identify forensic accounting skills required by accounting education graduates for effective acquisition of fraud detection skills in universities in Cross River State. Nigeria. It also investigated the extent to which forensic accounting education can enhance the acquisition of fraud detection skills among accounting students. The study adopted a descriptive survey design. The population of the study consisted of all accounting educators in public universities in Cross River State and all senior accountants in the 39 government ministries in Calabar. This brought the total population of accounting educators to 30 and that of accountants to 108. Census method was adopted as the sampling technique for the accounting educators while purposive sampling technique was adopted for the accountants. Data were collected using a researcher-made questionnaire which was validated by a research expert in accounting and a business educator. Copies of the questionnaire were administered to the respondents. The completed copies returned were 22 copies for the accounting educators and 96 for the accountants. It was this number that was used in generating data used for the answering of the research questions. Data collected from the respondents were analyzed using descriptive statistics of mean and standard deviation; also, the hypotheses formulated were tested using independent-t-test statistic at 0.05 level of significance. The results revealed that areas of forensic accounting be included in the curriculum of accounting education because it can enhance the acquisition of fraud detection skill. It was recommended that forensic accounting education be introduced into the accounting education curriculum.

PKM Pengembangan Keprofesian Berkelanjutan Melalui Desain Pembelajaran dan Soal Berbasis HOTS

Teachers of Accounting expertise at SMK Negeri 2 Kota Pariaman are unable to: 1) Design learning oriented to higher-order thinking skills, 2) Design questions with the HOTS category, 3) Designing questions in accordance with the rules of writing questions. The solutions offered are: 1) Training and workshops Designing learning oriented towards higher order thinking skills, 2) Training and workshops Designing questions with the HOTS category, 3) Training and workshops to design questions in accordance with the rules of writing questions. The approach method used is: 1) Using needs- based methods, the community service team entrusts educational evaluation experts to provide training and workshops, 2) Using the method of lecturing, question and answer, discussion, assignment, and demonstration. The results achieved are: 1) Most (60%) teachers of Accounting skills were produced learning designs that were oriented towards higher order thinking skills, 2) The result of the design of questions with the HOTS category by the majority (60%) of the teachers of Accounting expertise, 3) The result of the design of questions in accordance with the rules of writing questions by the majority (60%) of teachers of accounting skills teachers of SMK Negeri 2 Kota Pariaman.

Analysis of the Risks of Using the Blockchain Technology in the Accounting and Audit of a Fuel and Energy Complex Enterprise

Blockchain is a modern, influential technology that is already transforming organizations and their business models in all business processes, including accounting and auditing. The article identifies and analyzes the risks of blockchain application in accounting and audits of fuel and energy companies. Areas of application of blockchain in accounting and auditing of fuel and energy companies have been determined, which include - integration of cryptocurrency into the accounting system of an energy company, creation of smart contracts, certification of renewable energy sources, automation of accounting and document flow, operational management of energy company assets, accounting of accounts consumption of energy and fuel resources. The risks of using blockchain technology in accounting and auditing of fuel and energy companies are systematized, which are grouped according to the following directions: high requirements of blockchain for energy consumption, lack of sufficient knowledge and skills of accountants in working with blockchain, technical, accounting and auditing problems. An example of choosing an economic risk management strategy of an energy company using maximax, Bayes, Laplace, Wald, Savage, Hurwitz criteria has been developed. The results of the research can be useful for accountants, auditors and managers of fuel and energy companies during the implementation and use of blockchain technology in practical activities.

Soft Skills of a Modern Successful Accountant

Abstract. Introduction. Professional accountants of today have careers that use a wide variety of skills applicable to highly specialized roles. International Accounting Education Standards prescribe the technical competencies and skills accounting professionals need to develop. But there is another category of skills no less important for a financial specialist soft skills. Numerous foreign publications consider the accountant's professional skills in tandem with their soft skills. Purpose. The research aims to analyse the content, role and factors of development of soft skills of professional accountants in the context of business requirements in the current economic environment. Results. The study shows, as requirements for hiring, professionals who demonstrate, in addition to the hard skills exclusive to accountants skills, such as critical thinking, problem solving and teamwork. In a world that is becoming more digital, computerized, and automated, soft skills can be the differentiator between two employees competing for the same promotion or position. Poor organisation and time management skills could cause unnecessary stress, and accountants could risk tarnishing their reputation if important deadlines are missed. Accountants have to stay organised throughout their processes and work. Regulations are constantly changing, as is the technological environment in which accountants function, so the best accountants are open to change and remain adaptive and flexible in approaching their day-to-day activities. Effective communication is essential to all business roles, accountants included. They’re responsible for translating data in a visualised and easy-to-understand format. Since accounting and finance teams touch every area of the business, they are expected to work cross-functionally and collaborate well with other employees. Learning and education are constant in the accounting profession. Accountants are required to remain objective, ethical, and honest with regard to their tasks. The contribution of this research is to provide institutions, educators and professionals in the area, with insights into the requirements demanded by the job market for accounting professionals. Conclusions. To develop certain soft skills is always necessary in tandem with hard skills. Some of soft skills are character traits, the rest are acquired with life and professional experience. However, it is possible to develop soft skills at any age, the main thing is to set up such a goal and clearly determine the competencies that require improvement. The study found that the importance of both groups of skills to perform professional tasks by the accountant is undeniable. The success of the accountant's career depends directly on achieving the balance of soft and hard skills.

Analysis of the Application of Accounting Recording Based on Financial Accounting Standards for Micro, Small and Medium Entities in Small and Medium Enterprises in Baraka District, Enrekang Regency

This study aims to determine the application of accounting records based on entity, micro, small and medium financial accounting standards for small and medium enterprises in Baraka District, Enrekang Regency, using a descriptive analysis method (Descriptive Analysis Method). Descriptive analysis method is a method that provides an overview of small and medium enterprises in Baraka District, Enrekang Regency. The results of the study show that all research objects in Baraka District, namely small and medium enterprises, can already be said to be mostly using accounting recording methods, so that it can be said that these businesses have not fully implemented accounting records as required. This is due to limited human resources and inadequate accounting skills or knowledge.

Training and Assistance for Increasing Accounting Skills at MSMEs “Sala Lauak Kito”

The existence of Micro, Small and Medium Enterprises (MSMEs) in Indonesia is quite dominating and is the backbone that supports economic growth and provides jobs. Its existence needs to be appreciated and developed by providing access to financing, guidance and assistance so that it can develop its business. Training and mentoring activities are carried out in order to improve accounting skills for one of the micro businesses in Padang City "UD. Sala Lauak Kito. There is a need for partners to gain knowledge and understanding of accounting books and the ability to make financial reports. Until now, partners have not carried out the bookkeeping process so that cost and income information is not generated accurately. Implementation of activities consists of three stages: planning, implementation and final stage. Overall, all stages were carried out for 2 months. From planning to final stage. The training was carried out for 1 day and mentoring was carried out 1 month after the training. The method of implementation is in the form of material explanation presentations, exercises, discussions, question and answer discussions and independent learning through modules. The training material provided is in the form of knowledge related to the accounting cycle from recording to financial reporting. After the implementation of the activities there is an increase in accounting knowledge, the creation of complete and valid financial information, the existence of documented bookkeeping, the preparation of financial reports as information from the business. The output of this activity is the publication of print/digital newspapers and activity videos via YouTube media.

Enhancing Students' Enabling Competencies: Student Perspectives and Recommendations for Educators*

ABSTRACTEmployers continue to express concern that accounting graduates lack the necessary competencies when they enter the workplace. These concerns have been addressed in part by periodic revisions to Chartered Professional Accountants of Canada's (CPA Canada) CPA Competency Map, which is used to define competencies for entry into the profession. The CPA Competency Map has recently been revised to include a new set of enabling competencies (often called generic or soft skills). However, the accounting literature highlights a concern that time and resources spent on the expanding set of enabling competencies could take valuable resources away from teaching technical accounting skills. In addition, the education literature indicates that student motivation plays a key role in learning. If students are motivated to learn enabling competencies, then educational efforts could be more efficient and effective. Conversely, a lack of student motivation could reduce student engagement and learning. To address these concerns, we investigated the student's perspective on the importance of enabling competencies as well as on how and where enabling competencies should be learned. We surveyed 380 students enrolled in the CPA Canada Professional Education Program (PEP). We investigated the three new enabling competencies that are most distinct from the previous set of competencies and that may be the most difficult for accounting educators to teach: adaptability and resilience; creativity and innovation; and active listening. We asked students about the importance of these new enabling competencies for their future careers and whether the competencies should be taught in PEP or in the workplace. Our results indicate that students believe that the new enabling competencies are important and should be learned in both the classroom and the workplace. Moreover, student responses to open‐ended questions provide educators with suggestions on how to incorporate enabling competencies into the classroom by blending activities that could simultaneously enhance enabling competencies with technical competencies.

Communication skills in accounting: Awareness and fear

Communication skills in accounting: Awareness and fear

The Impact of Automation on the Accounting Profession - The Perspective of Indonesian Accountants

The purpose of this study is to examine the effect of automation on accountants and accountants’ work in Indonesia. In Indonesia, automation starts to be significant. Many companies have gradually integrated their operation with automated technology. Nevertheless, the overall implementation of automation in Indonesia is considered one of the lowest compared to other countries in the ASEAN region. Several accountants from across companies and industries were interviewed to get their insights. This study found that accountants in Indonesia are very aware of the emergence of technology, including automation in their jobs. They realized automation affects the required skills of accountants. Nevertheless, automation also creates the opportunity for a job promotion. This study shed some light on the effect of technology, particularly automation on accountants’ work in Indonesia.

APPLICATION OF FORENSIC ACCOUNTING SKILLS AND FRAUD DETECTION IN THE PUBLIC SECTOR IN NIGERIA

his study investigated the relationship between forensic accounting skills and fraud detection in Nigeria’s public sector. It employs a cross-sectional field survey with a sample of 44 out of 47 audit firms that employ forensic skills when auditing MDAs in Plateau state. Data was collected via structured questionnaires, and hypotheses were tested using multiple linear regression. Results indicated that persuasive and investigative skills have significant relationship with fraud detection, while no significant positive relationship was found with litigation support. The study recommends enhancing auditor and investigator skills through training and development programs to improve fraud detection in the public sector.

The Role of Modern Accountant Skills to Improving the Effectiveness of Performance in Oil Companies

The main objective of the current study is to try to develop the role of internal control and audit in government units, especially in risk management, and this is achieved by identifying the role of internal control and audit in activating risk management in government units and identifying the requirements for activating the role of internal control and audit in the assessment of risk management in government units. The study found that the existence of a scientific specialization in the field of oversight, internal control and audit contributes to the increased effectiveness of the staff of the Internal Audit Department, followed by the provision of continuous training, specialized courses in the evaluation of risk management for the staff of the internal audit department, in order to enable them to perform their duties effectively, followed by the professionalism, experience and skill of the control and internal audit staff that enables them to properly assess risks within government units. The study recommends the need to develop the reports of internal audit departments, as oversight and internal audit reports should include an assessment of risk management processes, the extent to which unit management is committed to governance, and the fight against corruption within government units.

Forensic accounting investigations have a significant impact on curbing financial crimes in the public sector: A case on Republic of Benin

The primary objective of this study is to analyse the effects of forensic accounting investigations on financial crimes in the public sector of Republic o Benin. The Front of National Organizations against Corruption (FONAC) is used as a focal point for this investigation. The research utilizes data from both primary and secondary sources, with a focus on five years of investigation reports from the Anti-Corruption Observatory (OLC) and Front of National Organizations against Corruption (FONAC) (2017-2021), to determine the impact of forensic accounting investigations in comparison to traditional investigation methods. The study concluded that the application of forensic accounting skills has a significant impact on the investigation of public sector financial crimes in Republic of Benin. The research also identified a significant difference between the work of forensic accountants and traditional financial crime investigators. As a result, the study recommends the use of forensic accountants in Republic of Benin’s public sector and the provision of proper training and adherence to forensic accounting standards for public sector staff.