Education

Do Graduates and Accounting Students want Careers In Auditing: What Specific Factors Influence their Choices of Career? (Published)

Through thorough investigation into the current declining trend in the number of the accounting graduates, this  study  intends  to  explore  factors  influencing career choices. As students completion fall by 8% between 2021 and 2022 academic year according Association of International Certified Professional Accountants (AICPA), “more than 300,000 U.S.–accountants and auditors left their jobs in–the past two years—a 17 percent decline in employed accountants and auditors from a 2019 peak,” accordingto–The Wall Street Journal in a December 2022 article.The above makes this study ask a fundamental question what factors influence graduates’ and accounting students career choices as review of literature suggests  that  this  global  challenging  trend  is  a  result  of  multi-faceted  factors. This study investigates the decline in graduates and accounting students in the auditing profession.Its objectives are to understand the perception of the relevance of auditing profession from the lens of graduates and accounting students. The role formal education is playing in preparing the  accounting  graduates  and  shaping  their attitudes toward audit career. In addition, to know their perception of 36 months  mandatory  practical training and internship experience. Consequently, aims to inform recruitment strategies, educational programs, and industry diversity initiatives. Using qualitative inquiry and online surveys, it explores factors influencing career choices. By gathering data from universities and professional students, it addresses gaps in knowledge.Findings  reveal  the  pivotal  role  of  education  and practical training, along with challenges like examination pressure. Gender dynamics and role modeling influence perceptions, while workplace ambience affects interest levels. Overall, the study provides insights for practitioners, educators, and policymakers, emphasizing the need to address challenges in auditing careers. Interpreting the findings in alignment with the research questionand objectives elucidates the complex influences on career choices in auditing. The pivotal role of  education  and  practical  training  resonates  with  Human  Capital Theory,  shaping  individuals’  decisions.  However, challenges like exam pressure and financial constraints underscore the practical realities faced during training. Gender disparities in perception and preference highlight potential biases within the industry, while role modeling emerges as a positive influencer. Ambience considerations emphasize the importance of workplace environment, particularly in gender dynamics. Unexpected findings, such as the mix of positive and negative perceptions, underscore the need for nuanced interventions to address challenges and enhance career satisfaction. In summary, this study offers a comprehensive understanding of factors influencing career choices in auditing. Future research could delve deeper into specific interventions to address  challenges  like  work-life  balance  and  gender disparities, enhancing career satisfaction and retention in the auditing profession.

Keywords: Career Choices, Education, Practical Training, Role Modeling, auditing profession, career satisfaction, diversity initiatives, gender dynamics, recruitment strategies, workplace ambience

Determinants of Digital Banking Convenience and Customer Satisfaction of Selected Deposit Money Banks in Nigeria (Published)

Citation:Kofoworola Sekinat Ogboye, Folorunso I, Akande and, Jerry Kwarbai (2022) Determinants of Digital Banking Convenience and Customer Satisfaction of Selected Deposit Money Banks in Nigeria, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 2, pp.1-30

The banking industry has enjoyed customer loyalty for over a decade with a high customer retention rate across board but the emergence of technology within the banking sector has aroused the interest of customer to switch from one bank to the other. Worst still, competitors from adjacent information technology  driven industries and other financial organization are now flooding the market with innovative, creative and technology-driven idea which is a deviation  from the conventional banking system and customers now are making decisions much faster and have access to a plethora of offers, leaving financial institutions struggling for customer loyalty. Therefore, the study examined the determinants of digital banking convenience and its effect on customers’ satisfaction in selected money deposit banks in Lagos State, Nigeria.The research designs adopted for this study was survey research design. The target population for this study was customers of the selected deposit money banks in Lagos State, Nigeria. The sample size for the study was 140 and simple random sampling technique was adopted for the study. The research instrument was questionnaire which was validated by the supervisor and the reliability was 0.731. The data for the study were analysed using simple regression analysis.The study showed that digital banking has significant effect on customers’ satisfaction in selected deposit money banks in Lagos State, Nigeria. The finding also revealed that speed of delivery has significant effect on customers’ satisfaction of deposit money banks in Lagos State, Nigeria with Adj R² = 0. 173; F-Statistics _{(df = 4, 432)} = 27.559 and p-value = 0.000. The study revealed that ease of use has significantly effect on customers’ satisfaction of customers in deposit money banks in Lagos state Nigeria with Adj R² =0.340; F-Statistics _{(df = 4, 432).}= 66.312 and p-value = 0.000.The study concluded that customers prefer digital banking services which would pave for sustainable development to the banking industry. It is however recommended the gains of this innovation should be consolidated through provision of more service points and user-friendly customer-oriented financial products.

 

Keywords: Accessibility, Education, age and attitude of customers, ease of use, privacy and security, speed of delivery

Firm Size, Social Capital and Firm Profitability: An Empirical Study on Vietnamese Listed Companies (Published)

The research study is focusing on firm-specific determinants of firm profitability for Vietnamese listed companies over the 2010-2016 period with the theoretical framework of firm profitability. The results demonstrate that social capital is significantly correlated with a positive profitability of a firm. A larger firm can exactly have a lower cost of bankruptcy and a higher level of growth rate related to a higher level of performance. In addition, the firm growth can positively generate financial performance. An older firm is more profitable than a younger firm. A higher level of educational degree of managers has a higher level of firm profitability.

Keywords: Education, Social Capital, firm profitability, firm size, hose

Selected Components of Tax Revenue and Educational Development in Nigeria (Published)

This study investigated the relationship between some selected components of tax revenue and educational development in Nigeria for the period 2010 to 2018. The study adopted education tax and value added tax as the independent variables, while educational development taken as government spending on education (excluding recurrent expenditure) was used as the dependent variable. Secondary data was collected from the CBN, FIRS, and MOE. The data analysis technique adopted for the study was the multiple regression analysis using the Ordinary Least Square (OLS) method. The results revealed that there was positive relationship between value added tax, education tax and education development. However, the relationship was not statistically significant with the implication that the effect of the selected tax revenue components on educational development was weak. Based on the findings of this study, it was concluded that the contribution of education tax to the development of the education sector is not having the desired effect on the sector. Furthermore, value added tax revenue as expected is not an important contributor to education development. It is suggested that more revenue from various tax funds be channeled to the education sector as human capital development is key to national development. The study thus recommended that the proportion of value added tax revenue channeled towards education development should be increased as deficits in education development are very high. It is also recommended that the education tax be increased from the present 2% to 5% in order to contribute more significantly to education development.

Keywords: Development, Education, Revenue, Tax, Value added

Perceived Risk Factors in Distance Education Delivery: The Case of University of Education, Winneba (Published)

The purpose of this study was to explore the risks associated with staff of University of Education, Winneba who work for University’s Distance Education Programme.  The study employed sequential explanatory mixed methods approach which used questionnaire and structured interview guide to collect both quantitative and qualitative data. Simple random sampling technique was used to select 250 respondents from 325 staff of the Distance Education Programme. The study identified security, dietary, transportation and lodging as the key risk factors associated with distance education delivery. It was recommended among others, that the University should institute an insurance policy to cover all staff engaged in the Distance Education delivery.

Keywords: Education, University, Winneba, distance education delivery, perceived risk factors

Basic Accounting Education: A Necessity for All (Published)

The paper examined the extent to which Accounting Education is taught to public secondary school students in Akwa Ibom State. The survey research design was adopted for the study. The population consisted of all SS1 students in Public Secondary Schools in Akwa Ibom State, totaling 2493 (1392 males and 1101 females). The cluster sampling technique was used in selecting 249 (136 males and 113 females) students as sample for the study. Data collection was done with a researcher-developed instrument tagged “Basic Accounting Education Questionnaire” (BAEQ). The instrument, which had 10 items, was duly validated and tested for reliability using the Cronbach alpha formula.  Data analysis was done using the independent t-test. The result indicated no significant difference in the mean responses of the two groups of respondents regarding the poor status of Accounting education and dearth of accounting teachers in public secondary schools in the state. On the basis of this, it was concluded that Accounting Education is not given adequate attention in public secondary schools in Akwa Ibom State. The teaching of Accounting Education at the secondary school level in Akwa Ibom State is impeded by dearth of qualified teachers and teaching aids. It was recommended, among other things, that bookkeeping and financial accounting should be made a core and compulsory subjects at both the junior and senior secondary school levels in the state.

Keywords: Accounting, Akwa Ibom, Education, Public Secondary Schools, basic

FINANCIAL LITERACY EDUCATION: KEY TO POVERTY ALLEVIATION AND NATIONAL DEVELOPMENT IN NIGERIA (Published)

Ensuring that all societies’ young people become financially capable is now widely seen as a necessary key pillar in helping Governments build economic stability in the future. The ability to read, analyze, manage, and communicate about the personal financial conditions that affect material wellbeing is of utmost importance. Being able to manage money, keep track of personal finances, plan ahead, choose financial products and stay informed about financial matters enable the avoidance of financial disaster. This research constitutes an essential component of the theory of the strategy of financial literacy framework which articulates a strategic direction for the delivery of financial education in Nigeria. Financial literacy education is very important because the journey to obtain independence and achieve financial success cannot just be prioritized by having good educational experiences, a sound résumé and a career with a nice salary. Rather, the financial freedom road requires development of good financial habits, practice and discipline. This work adopts a secondary data approach which critically examines Nigeria’s financial literacy education framework, the significance of financial literacy education, steps for best practices in financial education and awareness, and the challenges to building sustainable financial literacy education systems. It finds that promoting financial literacy among Nigerians provides them with the essential knowledge and financial responsibility to make decisions that will better their lives and ultimately grow the economy. This is because as financial markets become increasingly sophisticated and as households assume more of the responsibility and risk for financial decisions, financial education is increasingly necessary for individuals, not only to ensure their own financial well-being but also to ensure the smooth functioning of financial markets and the economy. The paper therefore strongly recommends, amongst others, the involvement of all tiers of government as well as key institutions and the private sector in the design and implementation of financial literacy programmes across all segments and sectors of the economy.

Keywords: Economic Development, Education, Financial freedom, Financial literacy, Nigeria

Examining And Justifying the IS/IT Skills That May Be Designed into the Accountancy Education Curricula for Tomorrow’s Professionals (Published)

There is an increasing shift in demand towards professionals with a combination of business and Information Technology (IT) and Information Systems (IS) skills to help organisations structure their systems to provide effective and efficient support for their primary objectives and activities. Around the world professional training Associations and academic Institutions offering programmes in Accountancy are realising the inevitable revolutionary trends in the world of work and are redesigning their curricula to meet it. The implication of the above shifts is also the shift of the skills required to achieve their organisational objectives and goals the paradigms of people requirements. As a result, academic institutions and accountancy training bodies must understand the consequential shifts in the roles, skills, knowledge and experience accountants and finance professionals need to demonstrate, both now and in the future to keep their heads above the waters. This article analyses the key IT/IS skills that could be preferred for undergraduate accounting majors and professional accounting trainees and proposes a pedagogic structure of IS/IT in the accountancy curricula.

Keywords: Accountancy, Accreditation Boards, Competence, Curriculum, E-Commerce, Education, Information Systems/Technology, Pedagogy