ACT505 Accounting Theory Assignment

ACT505 Accounting Theory Assignment

ACT505 Accounting Theory Assignment

Introduction

The accountingprogram is the process of generating appropriate graduates who have the knowledge of accounting, analytical capabilities and communication skills. The firms demand the candidate having the knowledge of accounting with better communication skills so the accounting program needs to graduate best students with the better knowledge. In the current year, there is a drastic decline in the profession of accounting program because the students are interested in the programs of society. They perceived society more creative than the accounting program

ACT505 Accounting Theory Assignment

Accounting has been seen as the discipline which the student and public follow. It develops an image in the society since the longer period of time and media is also reinforcing the same image of accounting. For instance: The teachers in the US and New Zealand perceived that the there is no career in accounting as compared to the law, medicine, engineering. And the society also makes the mind for the accounting profession that they are indulging in the work of numerical accuracy, calculative method and have the monotonous life.

As a result, the accounting universities across the countries are indulging in finding out the factors that affect the choice of students for accounting. They are researching the factors that affect the interest of students in the accounting. The finding of results concludes that there is need to develop the interest in the students so that they can those accounting as the profession. The teachers will act as the motivator for the students and develop the understanding of the importance of accounting profession. But the understanding for the accounting profession is difficult for both the students and teachers. It is the responsibility of the department of accounting to attract the best and brightest students towards the accounting profession.

Literature review

According to Mcmullen, & Sanchez, (2010),Career choice is a major aspect of the life of every individual and it includes some major decisions that which a having a lifelong impact on the life of an individual. This includes career decisions that are helpful in providing satisfaction to people in regard to their work. According to the theory of career choices, career decisions are made by people in considering their interest and their values towards maintaining the balance between talent and available opportunities. According toSchröder, et. al. (2011), there are many theories which are related to focus on career choice, for example, some theories say that student’s career decisions are based upon the decisions of his family and relative. This theory says that students take their career decisions considering the choices of their friends and relative. This shows that relatives and family are having a high impact on the career decisions of students and student’s decisions are influenced by their families and relatives. While on the other hand there are certain career theories which say that students or any other individual must consider his own talent and skills for the choice of his career. He must not get influenced by the decision of any other persons including his family and relatives. He must identify his own area of interest and he must focus on his own interest, skills, and abilities and identify such career option which gets fit as per his own skills. In this concern, they are required to identify the available opportunities to them. In this relation, the theory of socio-economic is as follows (Omair, 2010).

Socio-economic theory:According to Carnegie, & Napier, (2010), this theory says that career choices of a student are depending upon his social as well as economic conditions. This means that career decisions of an individual are influenced by his social and economic conditions. In this context social condition includes the influence of parents, friends, family, teachers, social status and other such persons who are associated with such student. Economic conditions include salary requirements, job opportunity etc. All these factors including social and economic have a great influence on career decisions of any individual that any individual takes his career decision considering all social and economic factors. In this concern, it is necessary for the students to realise that career choices are not based on any particular factor. There are various other factors that must be considered by an individual while career choices such as cultural, social and environmental and an individual must combine all such factors for an effective career making decision choice (Frey, & Stutzer, 2014).

According to Alexander, et. al. (2011), the career choice of students is highly impacted by the culture and society. Most of the time student is influenced by their perception that their skills and quality does not match with the accounting. They thought that accounting is a difficult subject and may negatively affect their career.  The student career choice of accounting is highly impacted by the society because society has the perception that accounting is not a good choice as a career for honours students. And now a day the students are interested in the challenging work of the society. It focuses on the strong creativity of students and leads them to reject the accounting as the career. Because they think that the accounting less creative and includes monotonous work (Leung, et. al., 2011).

Accounting theory

There are various studies conducted in relation to the theory. There are several finding made by different authors. These are mentioned below-

In the words of Paisey, & Paisey, (2010), the changing scenario has affected the student choices drastically. It is noted that with the emerging technologies, the accounting aspects has become easy. The advanced information system enables in resolving the complex issues. It also accompanied by the effective communication skills and creative thinking in an effective manner. On the other hand, in the opinion of Demagalhaes, et. al. (2011), and Al Ariss, (2010), showcase that the student who possesses the command on the numeric aspect can face issue with such information system.

According to Carnegie, & Napier, (2010),shows that difficulty and the complexity associated with the course lead to the withdrawal from such courses by the students. The students feel that the concept of accounting is based on a complex theoretical approach which is tough to learn. So they try to avoid such career. On the other hand, in the study of Edwards, & Quinter, (2011),they stated that students do not get affected with the difficulty in any manner.

As per Hazari, et. al. (2010), showcase that the choice they made at the high school for study the accounting has a significant impact on the accounting as a career choice. Similarly, in the words of Zellweger, et. al., (2011), the career choice is chosen at the time of the education pursuing at the high school has the positive effect on the choice of accounting as a career in an effective and efficient manner. The secondary and higher education affects the choice as students become focused as accounting as their career choice.

In the study conducted by Paisey, & Paisey, (2010),the role of the creativity skills plays a significant role in the career choice of the students. As creative students feel that accounting is less creative profession so they try to avoid the same as their career choice. On the other hand, Carnegie, et. al. (2010), states that creativity plays a positive role in the choice of accounting as a career.

As per Al Ariss, (2010), and Demagalhaes, et. al. (2011),states that introvert nature of the students makes them choice their career as the accounting. This is so because they feel comfortable working individually rather than focusing on the working in the group. This is the reason that introvert students become the account professional.

Conclusion

It is to be concluded that the purpose of research and study is to determine the factors that affect the students from choosing the profession of accounting as the career. The survey is done by the college of business and economics by choosing the students of the college. There are four factors that affect the students in choosing to account as the career option. The factors are intrinsic, extrinsic, social factors and the perception of students towards the accounting profession. These factors affect the students and motivate them to choose accounting profession as their careers.  The social factor is the important factor that highly influences the students in deciding their career. 

References

Al Ariss, A., 2010, “Modes Of Engagement: Migration, Self-Initiated Expatriation, And Career Development”, Career Development International, 15(4), Pp.338-358.

Alexander, P. M., Holmner, M., Lotriet, H. H., Matthee, M. C., Pieterse, H. V., Naidoo, S., Twinomurinzi, H. & Jordaan, D., 2011, “Factors Affecting Career Choice: Comparison Between Students From Computer And Other Disciplines”, Journal Of Science Education And Technology, 20(3), Pp.300-315.

Carnegie, G.D. & Napier, C.J., 2010, “Traditional Accountants And Business Professionals: Portraying The Accounting Profession After Enron. Accounting, Organizations And Society, 35(3), Pp.360-376.

Chudzikowski, K. And Mayrhofer, W., 2011, “In Search Of The Blue Flower? Grand Social Theories And Career Research: The Case Of Bourdieu’s Theory Of Practice”, Human Relations, 64(1), Pp.19-36.

Demagalhaes, R., Wilde, H. & Fitzgerald, L.R., 2011, “Factors Affecting Accounting Students’ Employment Choices: A Comparison Of Students’ And Practitioners’ Views”, Journal Of Higher Education Theory And Practice, 11(2), Pp.32-41.

Edwards, K. & Quinter, M., 2011, “Factors Influencing Students Career Choices Among Secondary School Students In Kisumu Municipality, Kenya”, Journal Of Emerging Trends In Educational Research And Policy Studies, 2(2), Pp.81-87.

Frey, B. S. & Stutzer, A., 2014, “Economic Consequences Of Mispredicting Utility”, Journal Of Happiness Studies, 15(4), Pp.937-956.

Harackiewicz, J. M., Rozek, C. S., Hulleman, C. S. & Hyde, J. S., 2012, “Helping Parents To Motivate Adolescents In Mathematics And Science An Experimental Test Of A Utility-Value Intervention”, Psychological Science.

Hazari, Z., Sonnert, G., Sadler, P.M. & Shanahan, M.C., 2010, “Connecting High School Physics Experiences, Outcome Expectations, Physics Identity, And Physics Career Choice: A Gender Study”, Journal Of Research In Science Teaching, 47(8), Pp.978-1003.

Leung, S. A., Hou, Z. J., Gati, I. & Li, X., 2011, “Effects Of Parental Expectations And Cultural-Values Orientation On Career Decision-Making Difficulties Of Chinese University Students”, Journal Of Vocational Behavior, 78(1), Pp.11-20.

Mcmullen, D. A. & Sanchez, M. H., 2010, “A Preliminary Investigation Of The Necessary Skills, Education Requirements, And Training Requirements For Forensic Accountants”, Journal Of Forensic & Investigative Accounting, 2(2), Pp.30-48.

Omair, K., 2010, “Typology Of Career Development For Arab Women Managers In The United Arab Emirates”, Career Development International, 15(2), Pp.121-143.

Paisey, C. And Paisey, N.J., 2010, “Developing Skills Via Work Placements In Accounting: Student And Employer Views”, In Accounting Forum (Vol. 34, No. 2, Pp. 89-108). Elsevier.

Schröder, E., Schmitt-Rodermund, E. & Arnaud, N., 2011, “Career Choice Intentions Of Adolescents With A Family Business Background”, Family Business Review, 24(4), Pp.305-321.
Zellweger, T., Sieger, P. & Halter, F., 2011, “Should I Stay Or Should I Go? Career Choice Intentions Of Students With Family Business Background”, Journal Of Business Venturing, 26(5), Pp.521-536.