Generic Skills in Accounting Education - Essay Example

Generic Skills in Accounting Education Table of Contents Introduction 3 A Brief Idea of the Generic Skills 3 A Concise Understanding of CommunicationSkills 5 A Better Idea of Teamwork Approach 6 A Brief Idea of Analytical Skills 8 Conclusion 9 References 10 Introduction The different roles relating to accounting have certainly became one of the reliable functions of the organisations belonging to this modern day context (Jackling & Lange, 2009). It can be apparently observed that with the increased level of complexities in the accounting procedure, the modern business organisations tend to employ potential accountants with the aim of coping up with such complexities towards the accomplishment of predetermined business targets (Boyce & et. al., 2001). It will be vital to mention that in order to serve the above discussed purpose, the accountants need to possess certain generic skills that will aid them not only to attain the above stated objective but also to develop their career in the respective field (Willcoxson & et. al., 2010). Thus, it will be vital to mention that the generic skills are quite essential in the field of accounting education for imparting them with effective technical knowledge towards the attainment of predetermined individual targets (Montano & et al., 2005). Thus, based on the above stated facts, the prime intent of this essay is to identify along with analyse the persistence of varied generic skills and their influence in the sphere of accounting education. Furthermore, the essay concludes by providing a detailed understanding about the level of further preparation required in improving the identified generic skills so as to attain the desired targets of the graduates or the learners of accounting education. A Brief Idea of the Generic Skills Based on the observation made by Keneley & Jackling (2011), the above discussed generic skills can be segregated into two particular segments. These segments comprise cognitive and behavioural skills. In this regard, cognitive skills entail analytic capabilities, critical thinking as well as writing qualities and making complex along with creative judgements. On the other hand, behavioural skills often comprise personal and interpersonal capabilities (Keneley & Jackling, 2011). Based on this similar perspective, Jackling & Lange (2009) pointed out certain skills that are required to be possessed by the accountants in this modern globalised era. These skills are identified to be personal along with interpersonal skills, communication skills, problem-solving capabilities, analytic along with team skills and time management. Arguably, the formation and the advancement of soft skills like interpersonal, communication, problem-solving, critical judgement and analytical capabilities are duly considered to be quite vital in the circumstance of reforming accounting education (Boyce & et. al. (2001). As per the viewpoints of Madison & Schmidt (2006), ethical perspectives are often viewed to be an important characteristic, which is to be maintained or followed strictly by the potential accountants for preventing the emergence of accounting frauds that are quite evident relating to the case of WorldCom and Enron. In this regard, it has been critically argued that teamwork is one of the major skills to be gained by the graduate accountants from their respective universities, which would serve them to restrict the occurrence of varied accounting scandals (Wells & et. al., 2009). With this concern, the following discussion provides a brief understanding about the three imperative generic skills including communication skills, teamwork and problem-solving capabilities, which often act as the three generic characteristics especially for the graduates in accounting education. It can be affirmed that the improvement of these particular important generic skills will eventually aid the graduates to reap varied significant benefits and opportunities in long run. These benefits can be measured in the form of obtaining brief understanding about making relevant decisions in utilising the accessible resources more efficiently and most vitally establishing a bright career in the respective education field i.e. accounting (Jones, 2010). A Concise Understanding of Communication Skills With regards to determine and analyse one of the important attributes of generic skills i.e. communication capabilities, it can be apparently observed that this key attribute aids in facilitating the accounting graduates towards delivering better results and generating probable beneficial outcomes (Boyce & et. al., 2001). This can be better explained with the consideration of one specific instance, wherein my communication skills have improved at large in the context of accounting education. Likewise, with regards to the section of “Financial Accounting and Reporting”, a potential group was formed and thus directed to examine the financial performance of a company with respect to its chief business market competitors operating in the similar industry. This particular task was mainly performed by calculating varied business ratios and evaluating the same on broader context. Based on my understanding, this particular activity has formed a greater collaboration or teamwork amid the students in the form of presenting their varied viewpoints about the stated subject matter. Moreover, this action certainly improved the communication skills of the entire group, as the students including me had to share our viewpoints and utilising the same in order to generate positive results. Apart from the above stated activities, it can be affirmed that the conduct of the group presentation also contributed in improvising our communication skills at large. It is worth mentioning that oral as well as written communication is regarded as certain decisive elements that contribute in developing the communication skills of an individual. These elements can also be related within my studies that were conducted in a group. Justifiably, while undergoing through the aforesaid module, a group had to present the summary of the readings for a particular week. By taking into concern the fact that as each group was randomly selected, we had to prepare short presentations individually. These activities eventually find alignment with oral communication. Adding to the developmental procedure of oral communication skills, an evaluation has also been made regarding written communication skills. This can be explained as that in the unit of “Accounting in Society”, I had to read several articles about the conceptual framework and also need to assess the same. This necessitated quality reading skills to comprehend any sort of prevailing issue and comment on the same effectively. Moreover, there laid numerous other essays and reports covering diverse accounting subjects that significantly supported in enhancing my writing skills at large. Therefore, proper, quality and effective accounting education must facilitate graduates or the learners to participate in distinct activities with utmost eagerness, resulting in enhancing their respective communication skills by a considerable extent (Boyce & et. al., 2001). A Better Idea of Teamwork Approach In order to analyse one of the effective attributes of generic skills i.e. teamwork, it can be affirmed that individuals having distinct capacities and qualities tend to perform varied functions in a collaborative manner for accomplishing the predetermined business targets (Mayen & Olry, 2012). It is worth mentioning in this similar concern that teamwork, as a quality attribute of generic skills, is applied in the context of accounting education with the aim of conducting varied important activities. These activities can be ascertained in the form of completing the assigned tasks related to accounting within stipulated period, assessing clients’ requirements and most vitally analysing or reporting diverse financial statements as per the need (Sallis, 2014). Similar to communication skills, my improvement of teamwork skills can be evaluated based the conduct of varied activities. In this similar context, the group work in relation to the section of “Financial Accounting and Reporting” urged us to work collaboratively and act as a team to attain a specific goal i.e. to present the collected data. Thus, every student including me had to analyse the data with taking into concern the factor of time constraints and then decide the imperative data to be presented. While undergoing through this particular exercise, we had to listen others and made individual efforts to reach into a valid conclusion. The key is listening to everyone and giving valid reasons for discarding viewpoints of others, if found inappropriate or irrelevant. Moreover, each of us had to conform to group etiquette and listen along with suggest instead of making arguments and indulge in doing convince to one another. Specially mentioning, in this similar concern, teamwork also requires good communication skills based on which, interaction with the other group members convincingly can be made possible at large. Finally, in the presentation, the notion of teamwork also included covering all the topics and helping out other members while facing any sort of problem in completing the relevant activities within stipulated time. Thus, from the above analysis, it can be affirmed that people need to sacrifice their individual mind-set and work towards the team objectives in order to attain greater succeed as a group in long run. A Brief Idea of Analytical Skills After acquiring a brief idea about communication and teamwork skills, it can be affirmed that analytic skills or critical thinking capabilities may play an imperative role in the context of accounting education in the form of delivering better results (Giroux, 2001). It will be vital to mention that my active involvement in the course of “The Accounting and Finance” has certainly advanced my analytical qualities through varied ways. These ways comprised finding out relevant solutions to address as well as mitigate the issues emerged while preparing varied assignments. This certainly involved the crucial activities like gathering information about the theoretical structure from various articles, examining the collected data and then finally making effective decisions in order to determine whether the assignment has followed the given instructions or not. Besides, with regards to the “Financial Accounting and Reporting” individual assignment, I was given the accountability of reading a particular concept and write about it from accessing broad assortment of secondary sources. Notably, analytical skills in this present day context are mainly employed for solving complicated problems that often emerge in varied accounting related examinations and other financial accounting related subjects. Therefore, it can be affirmed that the conduct of the above stated assignments and examinations certainly enabled me to enhance this attribute of generic skills at large, which is deemed to be fit in this modern era. Conclusion From the above analysis and discussion, it can be ascertained that the different sorts of generic skills are quite important to be taken into concern in this modern era due to the persistence of crucial factors like increased level of complexities in the accounting procedure. Specially mentioning, the imperative generic skills in relation to the respective education segment mainly include analytical capabilities, interpersonal qualities, communication abilities, problem-solving, time management, team building qualities and ethical thinking. Amongst these identified generic skills, three particular skills that can be found relevant to the field of accounting education encompass communication skills, teamwork and analytical capabilities, which need to be greatly enhanced for attaining predetermined individual targets. Specially mentioning, there lay certain activities based on which my communication skills can be enhanced by a considerable level. In this regard, one of such actions can be measured in the form of preparing more presentations in future. Thus, in conclusion, it can be affirmed that through the development of the aforementioned generic skills in the context of accounting education, the changing nature of the accountants in relation to their respective work will get further promoted at large in this technology driven and globalised era. References Boyce, G., Williams, S., Kelly, A. & Yee, H., 2001. Fostering Deep and Elaborative Learning and Generic (Soft) Skill Development: The Strategic Use of Case Studies in Accounting Education. Accounting Education, Vol. 10, Iss. 1, pp. 37–60. Giroux, H. A., 2001. Theory and Resistance in Education: Towards a Pedagogy for the Opposition. Greenwood Publishing Group. Jackling, B. & Lange, P. D., 2009. Do Accounting Graduates’ Skills Meet The Expectations of Employers? A Matter of Convergence or Divergence. Accounting Education, Vol. 18, Iss. 4-5, pp. 369– 385. Keneley, M. & Jackling, B., 2011. The Acquisition of Generic Skills of Culturally Diverse Student Cohorts. Accounting Education, Vol. 20, Iss. 6, pp. 605-623. Montano, J., Anes, J., Hassall, T. & Joyce, J., 2005. Vocational Skills in the Accounting Professional Profile: The Chartered Institute Of Management Accountants (CIMA) Employers’ Opinion. Accounting Education, Vol. 10, Iss. 3, pp. 299–313. Madison, R.L. & Schmidt, J.J., 2006. Survey Of Time Devoted To Ethics In Accountancy Programs In North American Colleges And Universities. Issues in Accounting Education, Vol. 21, Iss. 2, pp. 99-109. Mayen, P. & Olry, P., 2012. Landscaping: Teamwork And Integration Into Inter Individual Coordination As A Learning Situation. Work 41, pp. 5196-5202. Sallis, E., 2014. Total Quality Management in Education. Routledge. Willcoxson, L., Wynder, M. & Laing, G. K., 2010. A Whole-of-program Approach to the Development of Generic and Professional Skills in a University Accounting Program. Accounting Education, Vol. 19, Iss. 1-2, pp.65-91. Wells, P., Gerbic, P., Kranenburg, I. & Bygrave, J., 2009. Professional Skills and Capabilities of Accounting Graduates: The New Zealand Expectation Gap?. Accounting Education, Vol. 18, Iss. 4-5, pp. 403-420. Read More