Capabilities Required for Accounting and Finance Graduates Today

This essay examines the competencies and capabilities necessary for finance and accounting graduates in today's evolving professional landscape. It addresses concerns raised by the Pathways Commission regarding the preparedness of graduates for the complexities of the accounting profession. The study identifies and critically evaluates essential skills, including technical knowledge and generic employability skills such as interpersonal, communication, and IT proficiency. It highlights the gap between employer expectations and the skills possessed by graduates, emphasizing the need for universities to adapt their accounting programs to meet industry demands. The essay concludes that while technical skills are crucial, the development of broader capabilities is equally important for graduates to make immediate contributions to businesses. Desklib provides access to similar essays and study resources for students.

Running head: ACCOUNTING AND FINANCE
Accounting and Finance
Name of the Student
Name of the University
Author’s Note

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Introduction
As stated by Accounting Education Change Commission, the teaching and learning
deficiency are often evident in the preparing the students for the various types of the accounting
norms in the 20th Century. The new millennium is particularly depicted with even broader
changes in the accounting practices. The various types of the approaches for the addressing the
deficiencies are presently focused on increasing the overall prospectus and emerging alternative
distribution strategies. These are further seen to be suggested with academia with addressing the
deficiencies related to broadening the curriculum and development of alternate delivery strategy
(Warwick and Howard 2015).
The essay has acknowledged the recent report published by Pathways Commission about
its concern. It has been often stated that accounting are discerned with absence the preparations
and skills that are essential for a thorough comprehension of the multifaceted and complex
environment of the accounting profession. As per the findings of the report it has been also stated
that though accounting technical skills and knowledge are an essential attribute for graduate
accounting and finance graduates, employers also seek for a range of other capabilities and
capabilities of accounting and finance graduates. The present study will identify and critically
evaluate the competencies and capabilities required for the finance and accounting graduates
(Stoner and Milner 2015).
Discussion
There has been large number of studies focused on the teaching and knowledge
shortcomings in accounting education however several universities are successful in developing
effective approaches to address the apprehensions raised. There are also several recommended
strategies developed for addressing the deficiencies to include more emphasis on the

2ACCOUNTING AND FINANCE
development of specialized capabilities and skills. Some of the previous literatures has been able
to suggest that most significant successful practice in the accountancy are inferred in the first
years after the graduation. The previous studies have further suggested that the accountancy
graduates employed in public practice are ranging from 3 to 5years post-graduation. The results
of the report have shown that the graduate feedback is able to provide a good insight in the areas
where further development is necessary (Sangster 2015).
It needs to be discerned that the situation in which the accountants work is increasingly
changing in nature and this is evident with the progress in the information technology and
globalization of the economies. In order to meet the different types of the challenges it is
necessary for the Universities accounting programmes for providing the graduates with robust
technical and essential skills required for gaining employment and make an immediate
contribution to a business. The reputation of the skills progress is further reflected with
“(IAESB)’s 2015 release of International Education Standard (IES) 3 Initial Professional
Development – Professional Skills”. The aforementioned education standard is often referred
with the level of the professional skill necessary to classify the competency in areas pertaining to
interpersonal, personal, intellectual, communication and organizational (Apostolou et al. 2015).
It needs to be further seen that there has been a considerable amount of literature
pertaining to the generic employability skills which are expected from the accounting graduates.
It needs to be also seen that most of the studies has been able to concentrate on the skills of the
employees which are viewed with employers, graduates and students as well as other
professional accounting bodies. There has been various number of accounting programmes
which has failed to meet the needs and expectations of the employers as the results were not in
agreement with the actual world. Implication for this is seen to be based on the various types of
the considerations which are based on the common employability skills expected from the

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accounting graduated (Blackmore, Gribble and Rahimi 2017). The significant amount of the
studies is further carried out as per the time period of last three years which is focused with the
importance of the various types of the skills incumbent among the employers, students or
graduates. There are also considerable number of studies which have been able to suggest about
the failure of the accounting program and needs of the employers. The overall findings of the
study have been able to suggest that there is a need of developing number of skills as per the
accounting curriculum (Rezaee, Lo Ha and Suen 2016).
Despite of the accord among the accounting academics the employability aids are needed
to be developed as per the assessment of the wide range of areas. The important constraint
associated to literature has been also able to suggest that there is inadequate time available to
assist the students in developing extensive series of employability skills. Leaving these
constraints, it needs to be seen that other factors such as insufficient expertise and lack of
capitals in assisting the students with development of their skills. It is also discussed in the by the
researchers that generic skills are developed suitably by workforce rather than the curriculum
which is taught in a university. It is also seen that in many cases it is not possible for the
employers, accounting educators to prioritize on the skills which is deemed to be useful in a
workplace (Gaviria, Arango and Valencia 2015).
Some of the previous finds of the literature review has also enumerated that the
employability skills are commonly identified to be generic skills, personal movable skills, soft
skills and qualities which are depicted to be applicable to both level and recognized employees.
In the mid-1980s there has been significant increase in the literature as per the employability
skills which has increased in New Zealand, Australia and other countries. This area is depicted to
be the main problem related to accounting particularly in Australia (Sharma and Kelly 2015). It
needs to be further discerned that there has been also a prolonged criticism for the accounting

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profession to be too narrow and outdated. This has led to student failure to adequately prepare
for the employment which is required in the modern business scenario (Bernardi and Collins
2018). As evident some studies have suggested on the level of the professional skill necessary to
classify the competency in areas pertaining to interpersonal, personal, intellectual,
communication and organizational. While there are other studies which are depicted to be based
on the number of outcomes which are seen to be related to graduates requiring more technical
skills to grow in the accounting profession. These are seen to be inclusive of various types of the
knowledge of software packages like accounting software packages, Windows, Microsoft Excel
and word processor. It needs to be further discerned that the importance of the individual skills
has varied from employers, educators, graduates and students. For instance, the workers who are
working independently is particularly rated high among the employers, on the contrary the
communication skills are rated high by the academics (Messum et al. 2016).
The study conducted on graduates by de Lange has inferred considerable amount of gap
pertaining to computing/information technology skills, oral expression and interpersonal skills.
There are significant number of studies which have shown that Bui and Porter’s are main
educators and employers perception pertaining to the knowledge, capabilities and skills required
by the graduates. In addition to this, the individual employers have expressed their dissatisfaction
among the new graduates and what the college course program have included in the New
Zealand universities (Araújo, Rodrigues and Craig 2017). The biggest problem among the
graduates have been inferred among new graduates who have been identified with essential
skills. Moreover, the main debate pertaining to the employability among the accountants has
been discerned with number of issues which is depicted with the gap which exits among the
graduates and what the university course programmes are providing among the various
Universities across the world. The biggest gap is identified with graduates, employers and

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academics. The issue seen with the employability among the graduates, academics and
employers as per the development of the team skills (Shukla and Sharif 2017).
It needs to be seen that in the globalized business the advances in the technology has
created several problems which are depicted to be related to the employability skills.
Furthermore, the job commercials for the accountants in New Zealand and Australia has
provided objective sign for the vital skills required in the workplace. The overall analysis is able
to suggest that advertisement has demonstrated a mix of skills which is essential for the
bookkeepers in both Australia and New Zealand. The top skills among the accountants needs to
be discerned as per collaboration with the positive attitude values, defending views, using of
information technology, meeting the deadlines, understanding the dynamics of the groups and
apply leadership skills which will allow to solve the problem of the accounting with constructive
arguments (Blayney, Kalyuga and Sweller 2015). Employers in general are identified to seek
multitude of skills but focuses more on interpersonal and personal skills. The appropriate skill
required for the accounting profession has been depicted in terms of the collaborating with the
colleagues, defending the positive attitudes and using IT to meet the various types of objectives.
Overall the depictions have stated that interpersonal skills are of prime importance to the
accountants. It needs to be also discerned that interpersonal skills are based on the literature
which indicates the skills with the greatest gap for the graduates, academics and employers. It
needs to be also discerned that academics need to focus on the development
computing/information technology skills, oral expression and interpersonal skills (CHEN Tien
Yiu 2015).
The important skills are often seen to be developed with the various types of the other
factors which are needed to be considered as based on the required skill set which should be
present among the entry level accountants. In addition to this, Information technology

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competence is identified with accounting tools such as “Excel, MYOB, Xero” and other database
systems. Accounting students often lack the provisions and skills that are necessary for a
thorough understanding of the multi-layered and complex environment of the accounting
profession (Vysotskaya, Kolvakh and Stoner 2016). Hoverer, in order to address such an issue,
the intellectual skills are identified with an integrated development of the various types of the
analytical and problem-solving skills. This is reason why several institutes are inferred to be
using employment-oriented approach integrated into accounting programmes. However,
depending on the delivery to be made, the study has been depicted to be involved with several
nature of the findings which are seen to be depicted with reduction the gap among the accounting
proficiencies and skill developed at the university level. Additionally, as per the delivery of the
developments the study has shown the findings which state student’s may support in reducing the
gap among the capabilities skills established at the university among the graduates in the
prospective employers (Ali et al. 2017).
Conclusion
The overall findings of the such has been able to reveal that there has been large number
of studies focused on the education and knowledge deficiencies in accounting education however
several universities are successful in developing effective policies to address the concerns raised.
Moreover, some of the previous literatures has been able to suggest that most significant
successful practice in the accountancy are inferred in the first years after the graduation. In most
cases the efforts to quantify the nature and degree of change to accountancy degree programme
have been collected from the present graduating students from the university itself. The previous
studies have also suggested that accountancy graduates employed in public practice are ranging
from three to five years PG programs. The results of the report have shown that the graduate
feedback is able to provide a good insight in the areas where further development is necessary.

7ACCOUNTING AND FINANCE
Environment in which the accountants work is increasingly changing in nature and this is evident
with the progress in the IT and globalization of the economies. In order to meet the different
types of the challenges it is necessary for the Universities accounting programmes for providing
the graduates with robust technical and indispensable skills required for gaining service and
make an instant contribution to a business.

8ACCOUNTING AND FINANCE
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