ABSTRACT
The study examines the perception of accounting students on the relevance of accounting-based Technology on Employability in Nigeria.
The study used survey research design. The questionnaire is the main research tool used in the study to gather the necessary data from the sample of respondents. The analytical tools used in the study were a simple percentage method and a sample size of one hundred (100) represented by 100 per cent for ease of response analysis. The statistical analytical correlation method was used in the research work.
The study revealed that; Students perceived that Accounting-based Technology has helped accountants to create added value in their performance; Accounting-based technology has a significant impact on the Employability of accounting graduates in Nigeria.
This study concluded that accounting-based Employability Technology in Nigeria has had an impact on the overall performance of the accounting students and profession in Nigeria. The study further recommended that; Nigerian indigenous accounting bodies need to re-invent themselves in order to remain relevant by collaborating with academia and encouraging I.C.T. to train accounting experts; The design and installation of computerized accounting systems takes a very long time, especially during the trial period, and the best way to reduce this unnecessary time is to test the program in phases rather than waiting for the entire installation system to be finished before it is tested.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
The process of identifying, categorizing, organizing, recording, and making available financial information on economic activities to the users of the information to facilitate decision making by the users of the data is called accounting. Accounting may also be described as a discipline that records, classifies, summarizes and interprets financial information about a concern's activities so that it can make wise decisions about the situation. In recent years, technology has influenced both small and big offices like accounting firms.
Nwokike (2015) was of the opinion that virtually every modern office today is characterised by computer technology as the primary equipment for information and communication technology. There is hardly any office in Nigeria that one is going to visit in the public or private sectors that have no computers today. To put it another way, industrial workplaces today are highly mechanized. As a result of technological advances, business and accounting environments are evolving very quickly, at an unprecedented pace.
Obayi and Okwuanaso (2013) noted that companies and offices are evolving very quickly and with unprecedented speed and scale. In addition to the technological know-how of one's career, there are two sets of skills that every employer today is looking for in an employee who is an expert in technology and soft skills. Turner (2015) suggested that as computing and related technologies have continued to develop and grow, accountants or accounting graduates would continue to aspire for excellence in their work by learning accounting technology skills. Turner listed some of the necessary technical skills that all accountants should have such as word processing skills, spreadsheet, database, electronic presentation, web browsing, website design, email management skills, digital cameras, computer networking expertise, file management and windows explorer software download from the Internet, etc. Soft skills are also known as the talents of humans, are an individual's personal attributes. The 2011 vision of the American Institute of Certified Public Accountants (A.I.C.P.A.) project recently identified soft skills as a core competency that should be possessed by all accountants. Low, Samkin and Liu (2013) say that accountants are supposed to be able to connect data knowledge (I.C.T. knowledge) today, provide quality guidance for strategic decision-making, offer and enhance information with meaningful context, and influence and inspire other people.
The American management Cooperation in Kay and Janet (2012) indicated that employers want workers who can think critically, solve problems creatively, innovate, have I.C.T. skills, collaborate and communicated effectively in the office, this added skill aids the accounting graduate to be employable among others, thus when these skills are not attained (esp. tech skills in accounting) it constitutes a bottleneck to the employment of accounting graduates. Edglossary Organization (2014) defines skills from the 21st century as a wide range of knowledge and skills that include (accounting tech skills) which employers need to be critically relevant to workplace success. Some of Edglossary's listed 21st Century skills include critical thinking, problem-solving, reasoning, analysis interpretation, creativity, work information and communication technology, etc.
Rotherham and Willinghan (2009 ) noted that an increasing number of business leaders , politicians and educators agreed that students need the skills of the 21st century to be successful today. They said it was exciting to believe that people are living in times that are so revolutionary that they are demanding new and different activities; this gave rise to new technological know-how, especially in the field of accounting. Accounting technology is the accounting aspect that deals with the recording and maintenance of books of accounts. Accounting-based technology has the potential to improve the way people record their different business transactions. It is also useful for tax determination. Business can't thrive without accounting technology and effective use of data for business planning. This is in agreement with Nweze (2015), who stated that accounting is the universal language of business. The main objective of accounting technology is to provide students with an advanced, accurate and usable level of accounting knowledge and skills through I.C.T.
With the introduction of the computer to many business applications, those business areas that involve repetitive tasks which are often monotonous and fallible to human errors (cash, inventory control, payroll, etc.) are increasingly being simplified accurately by combining the cost, effectiveness, simplicity of use, efficiency, reliability and accuracy of the computer to obtain, analyse and interpret data information for efficient business decisions. Though the introduction of computer and other accounting-based technologies too many facets of business operations is a welcome idea, its use is further implicated on accounting technology and systems and as such organisations need to strike a balance between accounting areas to be manually operated to control or limit the menace associated with unemployment.
Employability is described as the development of skills and adaptable labor force in which all those who are able to work are encouraged to learn skills , expertise, technology and adaptability to enable them to enter and remain at work throughout their working lives (Treasury, 2017). Others describe the term has been motivated by a more holistic approach, stressing the effect of both human characteristics and circumstances on the labour market, that is, both labour demand and supply factors.
1.2 STATEMENT OF THE RESEARCH PROBLEM
The perceptions of accounting students today in line with generally accounting technology are very poor; this has become one of the most significant problems in gaining employment. This is as a result of the inadequate and obsolete accounting technology by higher institutions today, therefore most Accounting students know little or nothing about accounting technical knowledge, this has affected the performance of these accounting graduates in the Nigerian labour market negatively. Accounting skills have moved from a paper-based evaluation to a more modern way of computing data using technology. Research has shown that accounting just like any other occupation is essential and it is evolving in this era.
In addition to this problem, the lack of accounting technological equipment's and teaching aids such as computers in our tertiary institutions has resulted to gap inadequate teaching and learning of accounting technology in Nigerian tertiary institutions today. This study, therefore, examines the perception of accounting students on the relevance of accounting-based Technology on Employability in the Nigerian labour market.
1.3 OBJECTIVES OF THE STUDY
The primary purpose of this study is to examine the perception of accounting students on the relevance of accounting-based Technology on Employability in Nigeria. The specific objectives are to :
- examine the role of accounting-based Technology on Employability in Nigeria.
- examine the extent to which accounting technology knowledge will affect employability.
1.4 RESEARCH QUESTION
The overall objective of this study seeks to evaluate the perception of accounting students on technology-based accounting on Employability in Nigeria. The specific objectives of the study are:
1) What role does accounting-based Technology play on Employability of accounting graduates in Nigeria?
2) What is the effect of accounting technology knowledge on employment in Nigeria?
1.5 RESEARCH HYPOTHESES
A hypothesis is a conjectural statement of the relationship between two or more variables. The hypotheses of this research are stated in both null and alternate focus as follows:
Hypothesis 1
H0: Accounting-based Technology has no significant role in the Employability of accounting graduates in Nigeria
H1: Accounting-based Technology has a significant role in the Employability of accounting graduates in Nigeria
Hypothesis 2
H0: There is no significant effect of accounting-based Technology on Employability in Nigeria.
H1: There is a significant relationship between accounting-based Technology and Employability in Nigeria.
1.6 SIGNIFICANCE OF STUDY
This study would enlighten society on the relevance of accounting-based Technology on Employability in Nigeria. It would also prepare the ground for an interested researcher who might wish to conduct further research in related areas and could contribute to the existing literature, upon completion, it will add to existing knowledge and will be relevant to:
- Accounting Undergraduate Students: This study would enlighten accounting students on the importance of accounting technology, the new inventions in place and also will increase their level of Employability and their working attitude since they have already acquired the necessary skills.
- Secondary school and Tertiary Schools: This study would enable school owners, and lecturers adopt necessary accounting technology skills needed to educate their students and also help the school work on a better curriculum to convey the new topics to be taught.
- Researchers: This study would also add to the body of knowledge and works of literature of people who have researched on this topic or similar topics and also serve as a reference for subsequent researches.
- The Ministry of Education: This study would enable this vital ministry to look further into technological education, its importance and need in society.
1.7 METHODOLOGY
Data for this study will be obtained from primary and secondary data. Primary data were generated through field surveys using a structured questionnaire as the main research tool. Secondary data, on the other hand, were obtained from relevant literature, including textbooks, journals, articles, periodicals, seminar paper dissertations.
1.8 SCOPE OF THE STUDY
This study examines the student's perspective of accounting-based technology and how it affects the future of accounting undergraduates and how it also affects the Employability of accountants in Nigeria. Respondents will mostly be drawn from 30 students each 5 Universities across Ogun state. The study population of interest is the accounting students of 5 universities in Ogun state; the entire state cannot be used because it is too large. Thus a part of the population would be used as the representative of the whole.
1.9 LIMITATION OF STUDY
There are limitations at this time, such as data collection, respondent’s unsupportiveness, financial constraint, Time constraint etc.
Data Access Difficulties: Reaching out to the right respondent who would offer reliable data and honest perspective on the subject matter stands as a limitation.
Low response rate: A limitation to this research is the behaviour of respondents to the questionnaire and other vital information, and one way to minimise this is by making the questionnaire clear and explicit.
Financial constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview)
Time constraint: The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on time devoted to the research work.
1.10 DEFINITION OF TERMS
Accounting Graduate: An accountant or accounting graduate is a specialist who performs accounting and prepares financial statements such as profit and loss statements, balance sheets and more. They conduct book audits, prepare tax reports and manage all the financial information that is part of your company 's operations.
Accounting Technology: An accountant or accounting graduate is a specialist who performs accounting and prepares financial statements such as profit and loss statements, balance sheets and more. They conduct book audits, prepare tax reports and manage all the financial information that is part of your company 's operations.
Accounting: Accounting is the method of calculating, documenting, reviewing and publishing the financial statements of a company to make an informed judgment for management, the public sector and investors.
Employability: Employability refers to the ability to get initial jobs, to retain employment and, if possible, to get new jobs. Put merely; Employability is about being able to get work done and keep on doing it. Employability has a collection of personal qualities, abilities, experience, comprehension and.
Orientation: Familiarization with an action, item or activity.
Perception: The process of recognition and interpretation of sensory stimuli. It also includes how to respond to information.
Profession: This is a paid occupation, especially one that involves prolonged training and a formal qualification.
Professional Skills: are career competencies that are often not taught as part of a coursework, e.g. leadership, mentoring.
Relevance: A state of being closely connected or appropriate
Student:A student is a person studying at a university or at a higher education institution.
Technology: Application of scientific knowledge for practical purposes, in particular in the field of industry.
Training: The action of teaching a person a particular skill.
