The effect of accounting question response formats on student performance

The purpose of the research is to examine the effect of different response formats on student performance on introductory accounting exam questions. The study analyzes 1104 accounting students’ responses to quantitative questions presented in two formats: multiple-choice and fill-in. Findings indicate that response format impacts student performance on most of the questions, in favor of the multiple-choice. A second goal is to discover how effectively wrong-answer options in multiple-choice questions capture students’ actual incorrect thinking. Analyses of the fill-in questions showed students wrote in a wide array of incorrect answers, many of which would not have been offered as multiple-choice distracters. Answers filled in were often based on misguided logic that test question authors might never have anticipated. Students’ incorrect reasoning on quantitative fill-in questions can inform instructors on how to proactively address student misconceptions and write more effective multiple-choice items.     

Gender and Performance in Accounting Examinations: Exploring the Impact of Examination Format

This paper addresses the question of whether the increasing use of multiple-choice questions will favour particular student groups, i.e. male or female students. Using data from Belgium, this paper empirically examines the existence of a gender effect by comparing the relative performance of male and female students in both multiple-choice and constructed-response questions in financial accounting examinations. The study is motivated by the increasing number of students in accounting classes, changes in the gender mix in accounting classes, and debates over appropriate means of assessment. We find that female students outperform male students in answering questions in both formats, but their superiority in multiple-choice questions is diminished in comparison with constructed-response questions. This might suggest that multiple choice questions favour male students more than female students. The results hold even if we restrict the comparison to multiple-choice and constructed-response questions having the same general content (e.g. exercise type). Furthermore, the diminishing result was found both for undergraduate and postgraduate students. These results should prompt those involved in assessment to be cautious in planning the type of assessment used in evaluating students.     

Editorial

This study provides further evidence on the influence of cognitive style on students' problem-solving skills in the presence of ambiguous information. To do this, the performances of 47 accounting students on ten ambiguous multiple-choice questions were evaluated in terms of their field-dependence/independence dimension of cognitive style. Results showed that field-independent students significantly out-performed field dependent students when their general abilities were eontrolled for. These results which corroborate previous findings have significant implications for educators in using multiple-choice questions as a form of formal evaluation of student performance. Care should be taken to avoid highly ambiguous wording in multiple-choice questions in order not to disadvantage field-dependent students.     

Academic Performance in Introductory Accounting: Do Learning Styles Matter?

Abstract

This study examines the impact of learning styles on academic performance using major assessment methods (examinations and assignments including multiple-choice and constructed response questions (CRQs)) in an introductory accounting course. Students' learning styles were assessed using Kolb's Learning Style Inventory Version 3.1. The results indicate that students' learning styles, after controlling for other variables, are associated with academic performance, particularly, in the final examination including both formats, multiple-choice questions and CRQs. Students who exhibit the ‘assimilating’ learning style appear to perform better in some of the assessments than students with ‘diverging’ or ‘accommodating’ learning styles. The findings have implications for designing assessments to ensure that they are not biased towards particular learning styles which would improve their validity and fairness.     

Accounting Measurement and Capital Markets Research

Numerous controversies — from goodwill amortisation to the appropriateness of fair value accounting — illustrate both the importance of measurement questions, and the difficulty often encountered in devising accounting measurement "solutions" that are widely accepted. This paper discusses what might be learned about accounting measurement questions from the perspective of capital markets-based research. While this field of inquiry is not well developed, there are indications that further research from the capital markets perspective could provide useful conclusions about accounting measurement.     

Hiring for smarts

Yes, it's nice when a leader is charismatic and confident. And a great resume can tell you a lot about a person's knowledge and experience. But such assets are no substitute for sheer business intelligence, and they reveal very little about a leader's ability to consistently reach the "right" answer. How can hiring managers flag individuals with such smarts? Historically, the only reliable measure of brainpower has been the standard IQ test, which is rarely used in business settings because of the specific subjects it tests for-math, reading, and spatial reasoning-and because of its multiple-choice format. Despite its shortcomings, the standard IQ test is still a better predictor of managerial success than any other assessment tool companies currently use, Justin Menkes argues. It's true that there isn't a version of IQ testing that applies to the corporate world, but in rejecting IQ tests altogether, hiring managers have thwarted their own attempts to identify true business stars. The author defines the specific subjects that make up "executive intelligence"-namely, accomplishing tasks, working with people, and judging oneself. He describes how to formulate questions to test job candidates for their mastery of these subjects, offering several examples based on real situations. Knowledge questions, such as those used in standard behavioral interviews, require people to recite what they have learned or experienced; intelligence questions call for individuals to demonstrate their abilities. Therefore, the questions in an executive intelligence test shouldn't require specific industry expertise or experience; any knowledge they call for must be rudimentary and common to all executives. And the questions should not be designed to ask whether the candidate has a particular skill; they should be configured so that the candidate will have to demonstrate that skill in the course of answering them.     

Consumer satisfaction and loyalty derived from the perceived quality of individual banking services: A field study in Eskişehir from Turkey

The research project intends to find out the differences in the quality of the services rendered by the national banks of Turkey as perceived by the bank customers. This paper is an academically held field research conducted in May 2000 in the city of Eski?ehir Turkey, covering 1340 respondents who are regular bank customers, that is, who carry out banking transactions more than once in a month. These banks are all well-known, nation-wide financial institutions publicly or privately owned and are classified under three main groups depending on their ownership style and their size. Respondents are selected systematically from different age groups, income groups, and occupations reflecting both sexes. A questionnaire form included ten close-end multiple-choice questions (excluding demographic questions) is designed for the research purpose     

Promoting fairness in English insolvency valuation cases

This is the second part of a comprehensive study on fair measurement of value in English insolvency law. The author has already demonstrated in a previous article the importance of posing and responding to questions about fairness in the insolvency process. That article developed a specific framework to measure whether assets and businesses are fairly valued in insolvency and bankruptcy cases. The proposed communitarian, fairness‐oriented framework is based on a modified version of Rawls, Finch and Radin's concepts of fairness. It evidenced that, when assessed against fairness, none of the valuation techniques currently available to the courts are without limitations. Building on the findings of this previous work, this article investigates whether English case law: (i) achieves a fair valuation of the debtor's assets and business; and (ii) protects interested parties (mainly creditors and shareholders) who have realistic prospects of receiving a distribution‐ against unfair harm.     

Towards a concept of genetic risk tolerance: a risk analysis perspective

The starting point of the MindTheRisk project has been to raise socio-political questions about whether lay public’s understanding is satisfied about the genetic information they receive, and to what extent regulators do take this aspect on board when they decide to allow or restrict genetic testing or to develop communications about genetic testing. This article draws on the concepts that have emerged among the risk research community to tackle “risk tolerance’’. It explores the application of those concepts to the sharing and regulating of genetic risk information. We start with a conceptualisation of risk acceptability/tolerability in the genetic context, before turning to concrete hurdles that need to be overcome and questions that need to be answered. Finally, we suggest some direction for policy. The paper is based on an in-depth review supplemented by pilot interviews conducted with the European Medicines Agency, National regulatory agencies, academic and members of a patient organisation, all directly involved in policy.     

Using multiple choice test items to improve classroom testing of professional accounting students

The paper develops support for multiple choice testing as an alternative to the traditional “problem” or essay test used for evaluation of academic achievement in accounting courses. Basic measurement concepts are discussed and defined. The relationships between test reliability and validity are explained. The reader is encouraged to develop objective test items for use in the classroom.     

Business intelligence systems use in performance measurement capabilities: Implications for enhanced competitive advantage

The purpose of this study is to better understand how the quality of a Business Intelligence (BI) system improves the diagnostic and interactive dimensions of management control systems (MCS), thereby enhancing performance measurement capabilities, which in turn are positively associated with competitive advantage. Integrating theory from performance measurement, organizational learning and the knowledge-based view of the firm, a theoretical model is developed that considers three concepts of BI quality (infrastructure integration, functionality, and self-service) and the roles they play in enhancing diagnostic and interactive performance measurement capabilities. Data collected via survey from 324 CEOs and CFOs provides support for the theorized effects of BI quality on performance measurement capabilities. These capabilities in turn are positively associated with competitive advantage.     

IFRS framework-based case study: Barrick Gold Corporation—Goodwill for Gold

The case of Barrick Gold Corporation: Goodwill for Gold utilizes a framework-based approach to examine the objectives, underlying concepts, and relevant IFRS guidance applied to goodwill. The questions presented in the case study progressively lead from the broad concepts underlying the preparation of financial data, in general, to the International Accounting Standards concerning recognition, measurement, and subsequent treatment of goodwill, specifically IFRS 3, IAS 36, and IAS 38. It challenges you to determine if these standards are consistent with the underlying concepts set forth in the IFRS’s conceptual Framework. This case illustrates the importance of professional judgment in the standard setting process by requiring you to examine the IASB’s published supporting documents including the Board’s Basis for Conclusions. In addition, the case includes a practical application problem that requires you to determine the financial statement effects of the subsequent treatment of goodwill.     

Intertopical sequencing of examination questions: An empirical evaluation

This research examines whether the ordering of topics within an accounting examination influences either (a) the time necessary to complete the examination, or (b) examination scores. Further, these effects are examined on both introductory students (n=83) and on more advanced accounting students (n=84).Six hypotheses concerning examination time and examination score were tested via two three-factor ANOVAs. It was found that “better” students are disadvantaged by random sequencing of multiple-choice questions and score significantly lower than on an ordered format. Poorer students appear not to be affected. No differences were found relating to time necessary to complete the exam.     

Three Practical Assignments for the Introductory Risk Management and Insurance Student

I have developed, used, and refined an auto quote assignment, a life quote assignment, and a retirement analysis assignment that seem to communicate certain concepts well to the typical student enrolled in a risk management and insurance principles course. These assignments consist of worksheets requiring Internet research and a series of questions based on the answers discovered. Additionally, a short class discussion follows each of the three assignments to further ensure that students have achieved the primary learning objectives of each assignment. In their current form, these assignments are practical and require relatively minimal student and instructor time. Each could easily be expanded to accommodate students with advanced understanding and capability.     

Information needs and risk perception as predictors of risk information seeking

This paper introduces a theoretical framework that describes the importance of public's information sufficiency, risk perception, and self‐efficacy as predictors of intended risk information seeking behaviour. Based on theoretical assumptions, measurement instruments for relevant concepts were developed and validated using data from a mail questionnaire. Relationships among selected determinants of risk information seeking behaviour were analysed. Results indicate that information needs, risk perception, and current knowledge are direct predictors of intentions to seek information. Trust, engagement, social influence, and self‐efficacy affect risk perception and the need for information is influenced by engagement and social influence.     

Accounting for Forestry Assets: Current Practice and future Directions

Discussion Paper 23 and Exposure Draft 83, dealing with self-generating and regenerating assets, have been positive steps in the development of accounting for foresty operations. DP 23 was successful in canvassing a wide range of relevant issues. Its most significant recommendations relate to the measurement of foresty assets - but there emerges a problem: no concepts statement on measurement generally has been developed and in its absence the DP 23 and ED 83 recommends ti0 ns appear premature.     

资源价值在企业循环经济中的计量研究——以氧化铝生产为例

文章在物质流概念的基础上,对资源价值的概念体系及其计算与分析方法进行了探讨。以氧化铝生产企业为研究对象,根据其生产流程确定了相应的物量中心,对各物量中心的产出价值进行了分类,分别计量了资源有效利用价值、废弃物损失及其环境损害价值,并绘制了与物质流相匹配的资源价值流图。其结果可对企业循环经济活动进行价值反映与评价,并参与循环经济分析与决策。     

论公司财务概念框架

公司财务学领域需要借鉴其他相近学科的经验,关注概念框架的研究。财务的性质和职能始终是公司财务概念框架的研究起点,国内外从来都没有真正意义的目标起点论。公司财务概念框架内含财务本质与职能、财务环境与假设、财务目标、财务对象与要素、财务分析和财务管理工具箱等一系列概念。在构造公司财务概念框架时,需要对确认、计量和报告三个概念在会计与财务之间加以区别,确立财务确认、财务计量和财务报告三个新概念。     

Revealing money’s time value

Few accounting concepts are as challenging as valuation and the time value of money. Few are as powerful or useful. Measurement and valuation issues are central to the study of accounting, and developing students’ understanding of basic valuation concepts like the time value of money is critical. The purpose of this paper is to provide instructional resources to help build students’ valuation skills by revealing the (1) power, (2) concepts, and (3) application of the time value of money and basic valuation concepts. Three tools are presented. The first reveals the evolution and impact of financial markets like the bond market and their requisite need for mathematics and the time value of money. The exercise uses a video accompanied with questions that are intended to act as a “hook” to capture student interest in lending and the time value of money. The second tool reveals concepts of bond financing, valuation and the time value of money. It begins with familiar time-value-of-money concepts and logically progresses. Each step uses intuition from prior steps to methodically build concepts in a discovery-learning process. The steps ignore bond terminology until the intuition between cash flows, interest rates, and purchase prices has been established. The third tool has students apply time-value-of-money and valuation concepts to plan and account for personal retirement assets. The exercise demonstrates the applicable usefulness and practical value of the time value of money and basic valuation skills. It can spark use of these concepts to empower fiscal responsibility and self-sufficiency. In sum, the article provides a small arsenal of exercises for delivering time value of money and valuation material. The exercises can be used collectively or individually depending on instructor preference and course parameters.     

Effects of Jumps and Small Noise in High-Frequency Financial Econometrics

Several new statistical procedures for high-frequency financial data analysis have been developed to estimate risk quantities and test the presence of jumps in the underlying continuous-time financial processes. Although the role of micro-market noise is important in high-frequency financial data, there are some basic questions on the effects of presence of noise and jump in the underlying stochastic processes. When there can be jumps and (micro-market) noise at the same time, it is not obvious whether the existing statistical methods are reliable for applications in actual data analysis. We investigate the misspecification effects of jumps and noise on some basic statistics and the testing procedures for jumps proposed by Ait-Sahalia and Jacod (Ann Stat 37–1:184–222 2009; 38–5:3093–3123 2010) as an illustration. We find that their first test (testing the presence of jumps as a null-hypothesis) is asymptotically robust in the small-noise asymptotic sense against possible misspecifications while their second test (testing no-jumps as a null-hypothesis) is quite sensitive to the presence of noise.