Abstract:

In Ireland (and the UK) becoming an accountant usually involves a dual qualification system: a third-level degree followed by training and professional examination. This is commonly conceptualised as learning through knowing followed by learning through doing (Wilson, 2011; Apostolou & Gammie, 2014). Extant literature debates where the responsibility for the development of accounting knowledge and skills lies. Third-level accounting degrees have been criticised for focusing too much on gaining exemptions from professional examinations, with employers feeling that graduates are not work ready (Albrecht & Sack, 2000; Jackling & De Lange, 2008; Pan & Perera, 2012; Bayerlein & Timpson, 2017). Yet anecdotally, students and graduates value exemptions and maximising exemptions is important to them. This study explores the views of third-level accounting students and recent graduates to confirm the value of exemptions. Mixed methods were used in this study. Fifteen in-depth interviews were conducted and the findings from these interviews were supported by information obtained from a survey of eighty-three respondents.

All participants expressed a strong preference for gaining exemptions during their degree to expedite qualification. Students are even prepared to retake a college exam to earn an exemption. This is despite the majority of accounting students admitting to not understanding the role of exemptions until much later on in their third-level degree. While the development of broader business skills was acknowledged as useful, students were not agreeable to replacing exemption-bearing modules. Students believed earning exemptions improves the work-life balance of the accounting graduate during professional training and examination. Graduates however after beginning professional examinations grow more confident about balancing work and study. Instead they view exemptions as having helped to improve their employability prospects. Students and graduates believe that earning exemptions demonstrates graduates’ commitment to their career and willingness to develop their professional capabilities. Findings from this study provide qualitative evidence that exemptions are highly valued by accounting students and graduates. In this way educators should continue to investigate ways of improving generic skills without removing exemptions.

References:
[1] Albrecht, W. S., & Sack, R. J. (2000). Accounting Education: charting the course through a perilous future. Accounting Education Series, 16, 1-72.
[2] Apostolou, B., & Gammie, B. (2014). The role of accreditation in accounting education and training. In R.M.S.Wilson (Ed.), The Routledge Companion to Accounting Education. Oxon, U.K.: Routledge.
[3] Bayerlein, L., & Timpson, M. (2017). Do accredited undergraduate accounting programmes in Australia meet the needs and expectations of the accounting profession? Education + Training, 59(3), 305-322. doi:doi:10.1108/ET-04-2016-0074
[4] Jackling, B., & De Lange, P. (2008). Do Accounting Graduate's skills meet the expectations of Convergence or Divergence. Accounting Education: an international journal, 18(4-5), 369-385.
[5] Pan, P., & Perera, H. (2012). Market relevance of university accounting programs: Evidence from Australia. Accounting Forum, 36, 91-108.
[6] Wilson, R. M. S. (2011). Alignment in Accounting Education and Training. Accounting Education: an international journal, 20(1), 3-16.

Keywords:

Exemptions, Professional Examination, Graduates.