CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Accounting positions often demand proficiency in a range of computer software skills. For example, accountants typically use financial accounting software such as QuickBooks, Advanced Excel, Sage 50, and AccountEdge. Auditors may require expertise in specific data modeling programs. In today's competitive job market, job seekers face challenges in securing suitable employment, while organizations are working diligently to conduct effective recruitment and selection processes to place highly qualified individuals in appropriate roles. A successful recruitment and selection program ensures the right number of qualified employees to achieve the organization's strategic objectives in a cost-effective manner (Gamage, 2014).
Banks, as vital contributors to the economy, place a strong emphasis on maximizing wealth through the provision of exemplary customer services. Delivering superior customer service relies on having well-qualified employees within the bank.
In the real world, technology plays a significant role, and accountants work in an information technology-enabled environment, regardless of their specific roles, the nature of the organization, or its size. Despite the widespread acknowledgment that accountants need to be adept at selecting, implementing, managing, and using information technologies in their work, universities often approach accounting education from a theoretical perspective. They frequently fail to incorporate current and emerging information technologies into the teaching and learning of accounting, and they neglect to include IT-based accounting applications and technologies in their curricula. Consequently, business schools at universities are unable to produce graduates with the skills demanded by the job market (ALTC 2009; Kavanagh & Drennan, 2008) and graduates who are "work-ready." Even as the role of accountants in organizations has evolved (Thomson, 2009; Howleson, 2003), university accounting education has not adapted accordingly.
Accounting software, in its various forms, is crucial for recording and processing accounting transactions, encompassing modules like accounts payable, accounts receivable, general ledger, payroll, and trial balance. It serves as an accounting information system and can be developed in-house, purchased from third-party providers, or a combination of both. Accounting software can be either web-based or desktop-based.
In the current technology-driven economy, possessing accounting software skills significantly influences one's employability, especially in commercial banks and other sectors. Business education students who possess these software skills gain a competitive advantage in the job market.
Business education programs are designed to enhance individuals' skills and equip them with the qualifications required for gainful employment. These programs prepare students for various business roles, including accounting, management, secretarial/computing, marketing, and more (Usoro, 2016).
Commercial banks primarily deal with deposits and loans from corporations and large businesses, providing a wide range of financial services. Successful banking professionals need to be well-versed in finance, industry regulations, and technology, as well as relevant software skills. Given recent developments in the banking sector, including mobile banking, individuals with accounting software skills stand out in the competitive job market.
Software packages like Sage 50 and AccountEdge are integrated, modular accounting solutions suitable for small to medium-sized businesses. They offer user-friendly features, including interfaces resembling traditional paper documents, payroll management, inventory tracking, invoice customization, and extensive reporting capabilities. These tools help businesses streamline their financial operations and improve efficiency.
In the context of networked accounting software, AccountEdge Network Edition is designed for use on simple networks, allowing multiple computers to access and share financial data. The host computer stores the company file, while workstations connect to it. It's compatible with Mac OS X 10.10 and higher and does not require specific port configurations on Internet firewalls.
QuickBooks Online offers different plans tailored to the needs of businesses, with varying numbers of user licenses. It's essential to choose a plan that aligns with your specific business requirements.
Advanced Microsoft Excel is a powerful spreadsheet application with advanced calculation, graphing tools, pivot tables, and a macro programming language. It has become an industry standard for spreadsheet tasks and is a part of Microsoft Office. While Excel is versatile, it was not originally designed for use as a database.
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1.2 Statement of the Problem
Employers have expressed concerns about universities producing graduates with theoretical knowledge but lacking practical skills necessary for effective job performance. This issue is not confined to accounting alone; it extends to various professions like engineering and nursing. Limited resources and insufficient interactions between academic institutions and practitioners are cited as the primary reasons for the current inadequacy of university education in meeting the needs of both students and employers. Recent observations by the Business Industry and Higher Education Collaboration Council (BIHECC) validate these concerns from employers and highlight the insufficient development of practical skills in graduates.
The International Federation of Accountants (IFAC), a significant professional accounting body, has emphasized the importance of information technology skills for accountants since 1995. They have released guidelines to university business schools, and the International Accounting Education Standards Board (IESB) underscores the need for competence, which refers to the ability to perform work to a defined standard in a given working environment.
Various reports from accreditation bodies and employer organizations have recognized the necessity of strong information technology skills in business education. Employers seek accountants who can understand and navigate contemporary information systems used in accounting. The widespread integration of information technologies in the workplace implies that students with high-level, up-to-date IT skills are more likely to integrate into organizations quickly and become productive sooner than those without such skills. Despite being rated as one of the top five important skills, there are reports of a lack of IT security management and accounting applications skills among accountants in Nigeria.
In a recent survey conducted by the American Institute of Certified Public Accountants (AICPA) among accountants and auditors, IT security, reporting from business intelligence software solutions, leveraging efficiencies from accounting software, IT risks, and IT-enabled internal control were identified as top priority initiatives for their organizations.
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1.3 Purpose of the Study
The main purpose of this study is to determine the influence of accounting software skills of business education students for employment in commercial banks in Akwa Ibom State. Specifically this study will attempt to;
- Find out the influence of Sage 50 skills on the employment prospect of business education students in commercial banks in Akwa Ibom State.
- Determine the influence of QuickBooks skills on the employment prospect of business education students in commercial banks in Akwa Ibom State
- Determine the influence of Advanced Excel skills on the employment prospect of business education students in Commercial Banks in Akwa Ibom State
- Determine the influence of Accountedge skills on the employment prospect of business education students in commercial banks in Akwa Ibom state.
1.4 Significance of the Study
This research on “Accounting software skills of business education students and employment prospect in commercial banks in Akwa Ibom State” has come in a nick of time where the issue of skill acquisition is a necessity. The relevance of possessing employable and marketable skills is highly a serious concern both to the employees and employers. The researcher believes that the study would be of immense benefit to the commercial banks, employers, researcher, the university community, policy makers, curriculum developers and the society at large.
Perhaps to the commercial banks, this research would enhance adequate exposure of business education students to acquire practical accounting software skills that would ensure supply of work ready employees that would be well versed with requisite knowledge of accounting software skills which would help to boost productivity among its employees.
Secondly to the researcher, it would be his immense contribution to the body of knowledge as well as to the partial fulfilment of the requirements for the award of a Bachelor of Science in Vocational Business Education (Accounting). It would also widen his knowledge on the subject matter.
This research would be relevant to other researchers because it would serve as a data bank, it would provide a springboard for future research in related areas. This work would be a very veritable tool for students and other members of the university community as it would enlighten them on the relevance of various accounting software skills as well as serve as a resource/reference material.
The findings as well as recommendations from this work would help other practitioners, policy makers; government and curriculum developers proffer tangible solutions to issues of practical skill acquisition for business education students.
Lastly, the society would benefit at large because acquisition of accounting software skills among business education students would enhance productive and sustainable living which promote peaceful coexistence within the society.
1.5 Research Questions
For the purpose of this study, the following research questions are developed to guide the researcher to achieve the objective of the study.
- What is the influence of Sage 50 skills on the employment prospect of business education students in commercial banks in Akwa Ibom State?
- What is the influence of QuickBooks skills on the employment prospect of business education students in commercial banks in Akwa Ibom State?
- What is the influence of Advanced Excel skills on the employment prospect of business education students in commercial banks in Akwa Ibom State?
- What is the influence of Accountedge skills on the employment prospect of business education students in commercial banks in Akwa Ibom State?
1.6 Research Hypothesis
The following null hypotheses were formulated to guide the study.
Ho1: There is no significance difference in the mean responses of male and female bank workers on the influence of Sage 50 skills on the employment prospect of Business Education Students in Commercial Banks in Akwa Ibom State.
Ho2: There is no significance difference in the mean responses of male and female bank workers on the influence of Quickbooks skills on the employment prospect of Business Education Students in Commercial Banks in Akwa Ibom State.
Ho3: There is no significance difference in the mean responses of male and female bank workers on the influence of Advanced Excel skills on the employment prospect of Business Education Students in Commercial Banks in Akwa Ibom State.
Ho4: There is no significance difference in the mean responses of male and female bank workers on the influence of Accountedge skills on the employment prospect of Business Education Students in Commercial Banks in Akwa Ibom State.
1.7 Scope of the study
The study will be centered on accounting software skills of business education students for employment in commercial banks in Nigeria. The study will focus on Access bank, Polaris bank and First City Monument banks in Akwa Ibom State as case study.
1.8 Delimitation of the Study
This study is delimited to finding the influence of accounting software skills on the employment prospect of Business Education students in Commercial Banks in Akwa Ibom State. The study cannot cover all the accounting software skills hence the researcher is restricted to cover only four aspect of accounting software skills which shall include; Sage 50, Quickbooks, Advanced Excel and Account edge skills.
1.9 Significance of the Study
This study is of immense benefit to the developers of Business Education curriculum, teachers of Business Education, students of Business Education, parents, employers of Business Education graduates as well as researchers. The findings of this study would help the developers of Business Education curriculum during the review of the curriculum. It would enable them to develop the right content that would lead to the acquisition of the required skills by Business Education graduates. The study is also of much importance to teachers of Business Education. The findings of the study would guide the teachers in their development and delivery of instructional content. It would aid their instructional content to be in tandem with the need of the employers. The students on the other hand are the ultimate beneficiaries of the outcome of this study. It would provide them with the opportunity to learn and acquire the right job skills required of them to gain employment in chartered accounting firms. This ultimately would broaden the job prospects of an average Business Education graduate. Parents of Business Education graduates would also draw from the pool of benefits of this study. It is of significant to the parents because, the expectation of every parent is to see their children gain a commensurable employment after graduation from school. This study therefore, is of immense importance to parents, as the findings would ultimately lead to a reduction in the rate of unemployment of Business Education graduates. Employers on their part would definitely benefit from the outcome of this study. It is believed that if the findings of this study are properly harnessed and implemented, chartered accounting firms would not have any problem in employing Business Education graduates.
