The Acquisition of Generic Skills of Culturally-diverse Student Cohorts

The changing nature of higher education and the structure of graduate labour markets have increased emphasis on employability and graduate outcomes. Universities have responded to this changed environment by embedding generic skills in the curriculum. This paper examines the generic skills that students perceived they acquired in their accounting studies in preparation for graduate employment. Given the changed background profiles of students studying accounting degree in Australia, and the employment difficulties they encounter on graduation, the study specifically addresses the perceptions of students from diverse cultural backgrounds. The findings demonstrate that, overall, students believed that their accounting course assisted in developing generic skills, while differences in perceptions were identified between different cultural cohorts. The research highlights the need to develop educational practices which embed generic skills development in the curriculum in a way that maximises the opportunities for culturally-diverse student cohorts to enhance their employment outcomes on graduation.     

Personal skills development in the accounting curriculum

Today's challenging economic situation means that it is no longer sufficient for a new graduate to have knowledge of an academic subject; increasingly it is necessary for students to gain those skills which will enhance their prospects of employment. For over a decade, a number of employers have been sounding warnings to the higher education sector that a ‘skills gap’ was emerging at the employer/graduate interface. This paper highlights one strategy that attempts to facilitate the development of transferable and managerial skills in an undergraduate accounting degree. Using a stakeholder approach the adequacy of current in-house provision, and a comparison of this with best practice in the sector, was undertaken. Analysis of the findings resulted in the conclusion that skills development using an embedded delivery approach was insufficient. Likewise, a dedicated skills module in Year 1 was also inadequate and an appropriate course needed to be developed and incorporated as a core module in Year 2 of the programme. The result of this has been the creation of a module entitled Business Enterprise Skills.     

A Masterclass in interdisciplinarity: Research into practice in training the next generation of interdisciplinary researchers

This paper draws on evaluations of a number of interdisciplinary studentship and fellowship schemes to discuss some of the challenges of developing interdisciplinary research skills in early career researchers. It describes efforts to support such capacity-building in the UK through a series of Interdisciplinary Masterclasses which used workshop-based elicitation techniques to develop smallscale studies in order to synthesise experiential knowledge and foster mutual learning. This has enabled us to build important bridges between research and practice, thereby supporting and developing the interdisciplinary careers of early- and mid-career researchers, as well as research managers and leaders. This paper describes an approach to interdisciplinary capacity-building derived from actual practice. Based on learning from these activities, we offer some suggestions for improved supervision and mentoring of interdisciplinary graduate students and young postdoctoral researchers. If we are to develop effective, future interdisciplinary capacity, we advocate that supervisors/mentors need to focus, not just on the research, but on the particular forms of professional support and mentoring required by inexperienced interdisciplinary researchers in terms of career guidance, the development of publications strategies and network building.     

Where were the auditors? Using AAERs in introductory or advanced auditing courses

I provide instructions for use of a Securities and Exchange Commission (SEC) Accounting and Auditing Enforcement Release (AAER) assignment by instructors in Introductory or Advanced Audit Courses. The assignment gives students an opportunity to use the knowledge they have gained from their auditing and other accounting courses. Students analyze what was done by individuals in a company to cause the SEC to issue an AAER and what the external auditors could have done to prevent the AAER from happening. A secondary feature of the assignment is that students are able to practice their presentation skills by presenting their analysis to their class members and instructor. The assignment can also lead to class discussion on ethics and what ethical dilemmas practicing auditors are faced with.     

Accounting Students' IT Application Skills over a 10-year Period

This paper reports on the changing nature of a range of information technology (IT) application skills that students declare on entering an accounting degree over the period from 1996 to 2006. Accounting educators need to be aware of the IT skills students bring with them to university because of the implications this has for learning and teaching within the discipline and the importance of both general and specific IT skills within the practice and craft of accounting. Additionally, IT skills constitute a significant element within the portfolio of employability skills that are increasingly demanded by employers and emphasized within the overall Higher Education (HE) agenda. The analysis of students' reported IT application skills on entry to university, across a range of the most relevant areas of IT use in accounting, suggest that their skills have continued to improve over time. However, there are significant differential patterns of change through the years and within cohorts. The paper addresses the generalizability of these findings and discusses the implications of these factors for accounting educators, including the importance of recognising the differences that are potentially masked by the general increase in skills; the need for further research into the changing nature, and implications, of the gender gap in entrants' IT application skills; and the low levels of entrants' spreadsheet and database skills that are a cause for concern.     

Developing Accounting Students' Listening Skills: Barriers,Opportunities and an Integrated Stakeholder Approach

Accountants and employers of accounting graduates consider listening to be among the most important communication skills that graduates possess. However, accounting education practices that develop students' listening skills are uncommon. Further, in the case of listening development, the current approach of prescribing that educators do more to rectify students' skill deficiencies overlooks barriers that prevent greater incorporation of listening instruction in the accounting curriculum. An alternative integrated stakeholder approach to develop students' listening skills is proposed. Informed by a broad range of education literature, the approach identifies cross-disciplinary listening development best practice and barriers to the widespread implementation of such practices in the typical accounting programme, before determining and assigning interrelated listening development roles to key stakeholders who will benefit from improved student listening. While student listening development is feasible under the proposed approach, shared contributions by accounting students, the profession and educators are needed to achieve enhanced skills outcomes.     

Using an intranet to facilitate student-centered learning

This paper describes the use of computer-aided learning and an intranet in a third year financial statement analysis course in 1996. The course required students to create a substantial report on the financial analysis of an allocated company. A series of small movies of relevant computer skills were used by students over an intranet. These movies replaced the need for tutor based demonstration on these topics. The intranet was also used to supply a wealth of data and information, including financial and share price data, exams, focus questions, lecture notes, and newspaper articles. Students also had access to several mirrored sites on the intranet, including sites of some of the companies under student investigation. This provided students with convenient, fast, no cost access to a wider range of text and graphical information than was previously possible. Discussion groups were also created to allow discussion to occur outside the classroom. Student reaction has been favorable to the use of the Intranet in this course. The paper also briefly outlines how the Web site was created and discusses some of the resource issues.     

Learning through writing in a first-year accounting course

More than any other activity at a university, the writing experiences of students are directly linked to their academic progress. This paper reports on the practical steps taken in restructuring the curriculum of a first-year accounting course at the University of Sydney to develop students’ writing skills within a broader skills-based program to enhance learning. Three dimensions of students’ writing skills are addressed: writing skills as prerequisites for learning, writing skills as a means of learning, and writing skills as an outcome of learning.The paper explains how the educational theory about learning to write and writing to learn contributed to a pedagogical framework for teaching practice and gives several examples as illustration of the pedagogy. Interactive reading guides, annotated model answers, analysis grids, and formative self and peer assessment are among techniques adopted to encourage students to reflect actively on their own learning through writing. The curriculum redesign project reported here was first introduced in 1994, and substantially modified in 1995 in response to feedback. In general, the quality of submitted assignments, examination performance, and feedback from both staff and students suggests that the innovations reported in the paper have helped students to improve their writing skills and enabled them to become more engaged with the learning of the content of the course. Quantitative feedback between 1994–1997 confirms these conclusions.     

Minimizing capital injections by investment and reinsurance for a piecewise deterministic reserve process model

We consider the possibility for an insurance company to rely on capital injections to bring the reserve back to a given level if it has fallen below it and study the problem of dynamically choosing the reinsurance level and the investment in the financial market in order to minimize the expected discounted total amount of capital injection. The reserve process is described by a piecewise deterministic process, where the random discontinuities are triggered by the arrival of a claim or by a change in the prices of the risky assets in which the company invests. The capital injections, combined with the specific model, make the problem non-linear and difficult to solve via an HJB approach. The emphasis here is on making the actual computation of a solution possible by value iteration combined with an approximation based on discretization. This leads to a nearly optimal solution with an approximation that can be made arbitrarily precise. Numerical results show the feasibility of the proposed approach.     

Home mortgage analysis for cultivating crucial spreadsheet and model development skills

Accounting practitioners and academics have identified spreadsheet and model development skills as important for accounting graduates to possess. We present an adaptable mortgage analysis project that provides a practical setting in which students can develop critical spreadsheet modeling skills while demonstrating knowledge of several important principles of accounting and finance. The developed spreadsheet model is designed in a structured manner to permit changing the necessary financial terms and facilitates performing sensitivity analysis on critical variables.The analysis requires an informed decision be made between employing a fixed rate mortgage or an adjustable rate mortgage (ARM) for financing a home purchase. Important theoretical skills required to arrive at an acceptable solution include understanding of present value concepts, effective rate method of interest calculation, and amortization of principle balance. The student must also verify proficiency with the necessary theoretical and practical skills of effective spreadsheet design and model development     

Evaluating a method of integrating generic skills with accounting content based on a functional theory of meaning

This paper documents and evaluates an intervention designed to integrate the learning of selected generic skills, particularly analytical thinking and written communication skills, with the learning of accounting content. The method used was to scaffold practice in analytical thinking skills through specially designed writing activities. Content‐focused learning materials adapted from task‐types currently used to teach language skills were used to facilitate the analysis and interrelation of accounting concepts, principles and problems in interpersonal communicative contexts typical of actual accounting practice. The materials, in three assignments, were designed to incorporate: (i) selected generic skills, taken from those listed by the professional accounting bodies; (ii) writing, both as communication and as an instrument for analytical thinking and learning; (iii) knowledge of accounting concepts and principles; and (iv) awareness of the interpersonal dimensions of professional communication. Overall, students showed improved learning outcomes, with improvements of 19 percentage points for non‐Australian students over the three assignments. We were also able to show significant positive relationships between the assessments of assignments 2 and 3 and performance in the knowledge‐based final examination. Improvements in the quality of learning were shown in students’ improved ability to assess their own work.     

Canada Generators Limited*

This case depicts an armchair situation involving a newly formed small private Canadian company that has recently begun operations in Western Canada. Of concern to the owners is their understanding that Canadian generally accepted accounting principles (GAAP) are about to be replaced by International Financial Reporting Standards (IFRS) at the end of 2010, and so the statements in their present form will have to be conformed to the new standards if the company decides to go public with a share offering, which is an option it is considering. Other issues facing the company concern the appropriate accounting and reporting requirements that will be required in order to allow the company to secure additional financing and engage in some necessary research and development. This case is suitable for students who have progressed beyond the introductory financial accounting level; it involves adjustments to inventory and capital asset accounts as well as income effects including taxation, and it draws out some of the more important nontransitional differences between GAAP and IFRS.     

Political–security risk in the oil and gas industry: the impact of terrorism on risk management and mitigation

Oil and gas companies are experiencing an increase in terrorist attacks. The industry became a legitimate target for terrorist groups in the 1990s and the number of attacks have increased yearly, with a spike after the 9/11 attacks. In today’s interconnected world, political risk is not only about the relationship between the host government and the company. Oil and gas companies may experience risks on a transnational, national and human security level. The success of new investments often depends on the successful utilization of risk management strategies. This study focuses on the importance of political–security risk in the oil and gas industry. In January 2013, the oil and gas industry experienced one of its deadliest attacks at the In Amenas gas facility in Algeria, forcing firms to reconsider its focus on security management. Statoil undertook a thorough analysis of security at the site as well as of the company′s corporate security risk management. The report revealed a lack of focus on political–security risk. This study argues that political–security risk has not been used to its full potential in the oil and gas industry. The oil and gas industry has always focused on site security, but a broader more holistic approach to risk management has been lacking. As a result of the In Amenas incident, the industry has become more willing to have a new discussion on security and this has resulted in changes in the way companies operate.     

Perceptions of the benefits of the A3 planner in facilitating project-based learning in accounting education

This paper evaluates ways of instilling project management skills into accounting-based learning by the use of an iterative A3 planner to plan, monitor and review assignment progress. The application of an A3 planner to facilitate a project-based learning (PBL) group assignment in undergraduate accounting education has been critically evaluated in terms of both the student and tutor experience. The study uses a mix of qualitative and quantitative data. Quantitative data assisting exploration of perceptions were collected through 100 undergraduate students. A series of focus group discussions were carried out to investigate students’ engagement and tutors’ teaching experiences regarding the adoption of the A3 planner. The results suggest that the A3 planner promotes active planning and effective management of a PBL group assignment. It makes students’ thought processes more visible thereby facilitating and enhancing the tutoring/mentoring process. Moreover a more interactive and transparent approach by doing assignment via the use of an iterative A3 planner has ensured more feedback points and action based efficiency in the doing approach for learners.     

A pedagogical note on the relationship between valuation methods and lifetime income

This paper presents an algebraic analysis to help students understand that the choice of a valuation method may or may not produce a permanent difference in reported income, depending upon a number of factors. By analysing these factors and the relationships among them, accounting students can increase their understanding of alternative accounting techniques and, at the same time, obtain additional practice in developing crucial analytical skills.     

Using Form 20-F reconciliations to internationalize an accounting course

Accounting courses and textbooks in the United States focus on US generally accepted accounting principles (GAAP). As a result, US accounting students have little exposure to International Financial Reporting Standards (IFRS) and to differences between these standards and US GAAP. To familiarize students with the differences between IFRS and US GAAP, accounting instructors can develop assignments based upon the reconciliation of IFRS to US GAAP net income included in Form 20-F, the annual document submitted to the SEC by non-US firms. The course assignment described in this paper provides students with a “road map” of the differences underlying specific company financial reporting, and helps instructors identify where these differences occur. The assignment represents an innovative way of integrating international financial reporting standards and SEC reporting requirements into a higher level undergraduate or graduate accounting course.     

Evidence that independent research projects improve accounting students' technology-related perceptions and skills

Advances in technology require that accountants possess skills to obtain information from various sources, complete computer-based projects, and use computers as a tool to achieve other business-related objectives. Students not only need to develop skills to access information but, more importantly, they also need to improve their perceived ability to utilize computers successfully. This paper describes a project in which accounting students were required to independently analyse a publicly-traded company using text- and Internet-based resources. The goals were to concurrently develop students' computer-based skills and improve perceptions toward technology. In addition, since research using nonaccounting students has shown that self-efficacy and confidence in the use of technology differs between the genders, this study also analysed gender-related differences in perceptions towards computers. The results show that the project enhanced students' Internet knowledge and skills to access information from multiple sources. Students also improved their perceived ability to use computers to analyse technical problems, their computer-based project completion skills, and their understanding of the Internet. Furthermore, while female students indicated lower perceived ability to work on technology-related projects before the assignment, participation in the project elevated their confidence levels. In general, this paper demonstrates the value of designing assignments to improve students' perceived computer-related abilities, and provides insight into gender differences in perceptions towards technology.     

酒店管理专业学生岗位实习调查研究

酒店行业发展,高素质员工的需求量越来越大,以大学生为代表的高技能、高水平的服务人员的流失率却居高不下.本文以酒店管理专业学生酒店管理岗位实习为探讨,留住酒店优秀的专业管理人才,加强校企合作,酒店提供全面的顶岗实习,尤其是管理岗位实习问题值得我们关注.     

Operational Improvement: The Key to Value Creation in Private Equity

With credit tightening having reduced the availability of leverage and intensified the competition for new deals, the economic recession has caused many companies in private equity firm portfolios to under-perform. These changes are forcing the private equity firms to depend even more on their ability to improve operating performance to achieve their investment goals and generate attractive returns. But few PE firms have proved capable of achieving such improvements in portfolio companies consistently over time.
In this paper, the authors discuss several ways that private equity firms use their operating expertise to drive value in their portfolio companies. They also examine the analytical framework used by some PE firms when assessing and prioritizing the many operational initiatives that could be undertaken within a newly acquired company. Part of that examination involves a detailed look at how private equity firms assemble an attractive mix of operational improvement projects in their initial 100-day plans. Finally, the authors explore one of the challenges faced by private equity firms when attempting to implement operational enhancements in newly acquired companies: bringing about change without alienating company management.
The real-world application of this approach is demonstrated with a case study that shows how one private equity buyer put its operational skills into practice to help create value within a mid-sized portfolio company.     

Vocational skills in the accounting professional profile: the Chartered Institute of Management Accountants (CIMA) employers' opinion

The increasingly dynamic environment in which accountants work has necessitated a reorientation of accounting education. In some countries this issue has raised great interest amongst accounting educators and practitioners. The ongoing debate has already resulted in the publication of several statements and research papers that have raised the question of the relevance of the role of vocational skills in accounting education. Examples of these vocational skills are communication skills, interpersonal skills, and problem-solving skills. This paper reports on the importance that the employers of management accountants gave to a specified set of vocational skills and capabilities and the level of ability of these skills exhibited by students. In order to prioritize future developments an integrated analysis of the two attributes, importance and exhibited level, is enabled by the use of strategic mapping. The results of this study suggest that the employers perceive deficiencies in several capabilities that they have identified as being quite important. These deficiencies exist, in the employers' opinion, both prior to recruitment and on professional qualification. The research also indicates that, in the opinion of these employers, the development of these skills should be a central concern for universities and professional bodies. The employers also indicated that vocational skills should be attained in an integrated way.