Importance of Principles of Accounts to Business Education

Importance of Principles of Accounts to Business Education

Principle of Accounts is a course for Business Education NCE 1 students in Federal College of Education. It is the foundation of accounting for a beginner which introduces the students to the accounts terms. A principle of accounts is very Paramount to Business Education students because it will help them in the financial world. The following are the importance of Principles of Accounts to Business Education students. 

i. Principles of Accounts enable Business Education students to have background which will help the students as a financial entrepreneur. 

ii. It helps Business Education students in analyzing and making proper investments. 

iii. It helps Business Education to know the need for keeping paramount record in all business. 

iv. Principles of Accounts provide Business Education students with financial information intended to be useful in making economic decision. 

v. Principles of Accounts also of importance to Business Education student because, it provide them with information that will enable them to determine the profitability of a business concern.

Strategies towards enhancing Students academic performance 

The traditional approaches to course and content delivery do have their place, the changing nature of contemporary education has provided both direction and opportunity for new methods in particular, and educators seek new ways of enhancing course content, improving educational quality, while maintaining sufficient time for research and administration responsibilities. In effect, both sides of the contemporary education market are seeking flexibility. As the number of tertiary education providers increases globally, the need for such flexibility also increases. Accounting educators have undertaken efforts to improve the quality of accounting education. The significance of enhancing teaching and learning becomes the core in the process of global educational reforms, where teaching strategies must take this responsibility (Warren, Reeve, and Fess, (2005). Strategies for facilitating the adoption and effective learning of financial accounting are issue of importance to educational administrators and teachers around the world. Students‟ academic performance is influenced by several factors. 

According to Rosthstein, in Ibrahim (2011), some of the variables that influence students academic performance can be grouped as: teachers variables (e.g. teacher‟s method of instruction and mode of presentation), societal variables (e.g. culture and beliefs), socio-economic variables (e.g.income level of individuals and social class), students‟ variables (e.g. age, gender, preference, prior knowledge, and learning style) and school variable (e.g. location, atmosphere and resources). Thomas, (2009)highlighted that the techniques used to motivate introductory accounting students include offering novel ways to learn and giving immediate feedback, although one study claimed that without significant course credit, student will not complete extra work voluntary. Motivating effort may be one of the largest issues in principles of accounting courses and likely needs to require a small effort and be distinctly different from traditional course supplements. Porter and Norton (2007)stated five dimensions of student‟s perceptions of effective teaching which include rapport, classroom interaction, enthusiasm, clarity and learning. 

Pearcy (2005) derived twelve strategies to measure effective teaching which include student ratings, pear ratings, self-evaluation, video, student interview, alumni ratings, employer ratings, administrator rating, teaching scholarship, teaching awards, learning outcome measures and teaching portfolios. Norman (2003) state the university students rated their lecturer by their ability to transmit knowledge rather than according to the university‟s criteria of research and publication. They added that good teacher and effective Instructions were used interchangeably although they are not identical. On the teaching method issues, Paton and Littleton (2004)defined teaching- centered approaching as direct teaching which emphasizing systematic sequencing of lesson a presentation of new content and skill, guided students practice, feedback and independent practice by student. Ibrahim, (2008)pointed out that there are five component of effective teaching as perceived by the student. They include teaching individual student interaction and dynamism/enthusiasm manner. Haugen and Becker (2005) contributed a checklist for good teaching by including test prerequisite skills, provides feedback to the teaching, adopts to individual difference, provide feedback to the students, flexible, promotes active student learning, motivates student and clear and well organized. 

Norman(2003)further included that research on group-oriented discussion methods has shown that team learning and student discussion not only produce favorable student performance outcome but foster greater participation self confidence and leadership ability. Regarding the impact of educational technology on accounting students‟ performance, Cronbach, (2003) argued that the use of technology in the assessment of student learning remains important area for future accounting education research. Results from experiments with the use of various forms of educational technology in teaching accounting courses seem to indicate that accounting have a positive attitude towards the use of technology and that using computer technology, at the minimum, will not harm their academic performance (Hanushek, 2007). In addition, the real benefits of integrating modern technology may not be easy to measure over the short term (Chasen, 2008). On the integration of all techniques with technology, Igben, (2007)analysis reveal that student reactions were positive. They also reported that student with a non-English background participated more when an electronic discussion board. Flegm, (2005)stated that the method used to educate students in accounting have been criticized. There have been repeated calls to incorporate real-life work skills rather than emphasizing the memorization of technical rules in response to these criticisms, accounting education researchers have carried out action research to test alternative approaches to the accounting curriculum. 

Harrington, (2006)observed that there is a need for the accounting instructors to reflect on their teaching strategies when using a Virtual Learning Environment (VLE) if the benefit expected are to be realized pointed out that students who speak English as a second language prefer a computer- assisted learning environment. A great number of experts have been discussing the need of changes in the teaching methods of accounting; this view is in line with Rankin et al (2003); Hartnett et al (2004), they noted that there is the need of changes in the teaching methods of accounting and that the traditional curriculum of accounting, which emphasizes memorizing skills, may actually hinder the student‟s effort to develop the requisite competencies in accounting, such as critical thinking. The AECC has suggested the needs for restructuring accounting principles through by using a user model instead of a preparer model Harrington, (2006)suggested the use of information technology to improve the effectiveness of accounting study. It has been commented that “why” approach to accounting is more successful than the “how” approach (Caiado and Madeira, 2002). 

But the current methods of teaching principles of Accounting have focused on the “how” approach, the usually this has been accomplished via the vehicle of rote learning. Often, this process involves a combination of lecture by the instructor covering the concepts of any given chapter followed by a review of exercises and problems located at the end of the chapter. Examination procedures usually require students to complete multiple choice and true/false questions and solve by calculation a variety of problems as covered in the reading material. This pedagogy results in passive participation on the part of the student. The literature has reinforced the recognition that this passive student/learner model is predominant (Drennan and Rohde,2010). This same review acknowledges that a wider range of learning techniques and models are currently available, and although not predominant, are being used on an increasing basis. These methods require students to take an active role in the learning process that, it is believed, will result in better student retention and performance. Some of these instructional models show that, at least at the principles level, are overall review of the accounting concepts is preferable to a detail driven approach (Esckel, (2006). This study identified a shift in the accounting approach away from didactic teaching methods and courses swamped by technical detail. Along this same line, a need within the accounting profession showed a shift of the skills needed by accounting student after entering the workforce. Due to technological innovations and a greater concentration on strategic accounting approaches, it is believed that instructors must adapt their teaching methods. Educators have long realized that developing skills in students is of greater importance than rote learning of technical and specialized material. Must have been written in the literature as to how this theory applies to the teaching of accounting. Many writers have identified the development of communication skills as vital in accounting courses (Ferla, Martin and Yonghong, (2009). 

Often communication skills can be enhanced via the application of group activities and projects. These group activities and projects are usually of an unstructured nature and assist the students in group problem solving and understanding of the accounting concepts and principles. These methods of teaching help to develop students‟ critical thinking skills, rather than the retention of a common body of knowledge. While not necessarily utilized at the principles of accounting level, the use of case studies has been identified as a key success factor for students completing intermediate level accounting courses (Keith, (2002). This review has also supported the idea that group activities that enhance students‟ communication and interaction encourage a more active learning environment. Concurrently, it is important in this type of learning environment that instructors grade written assignments for both content and communication skills.

 Examination method could utilize more essays. Case analysis and short answer question types that would encourage the development of those communication skills. To facilitate teaching and learning of principles of accounting, (Brain, and Smith, (2000) highlighted that teachers should explore the idea of focusing their courses and programs on the concepts of flexible teaching and learning need. First to consider which aspects of the course or program will become flexible and what that first to consider which aspects of the course or program will become “flexible” and what that term will come to mean in the development process. Flexibility is generally operational zed as offering choices in the learning environment that allow for the tailoring of the course of study of the learner‟s individual needs and circumstances. Choices in this view center on such course base on class times, course content, and instructional approach, learning resources, location technological use, entry/completion dates and communication medium. Other authors have identified additional methods for increasing the likelihood of students‟ success in accounting courses. Close contact between student and instructor and the establishment of a business atmosphere in the classroom have also identified as success factors (Koh, and Koh, (2005), of course, class size in a function of college strategy and administration, but smaller class sizes are desirable. Following the aforementioned strategy objective than that of intermediate Accounting, a more passive learning environment might be appropriate at the introductory level. While this rationale might seem somewhat logical, the predominance of the literature recommends of the literature recommends a more diverse approach to teaching accounting principles (Australia Office of Financial Management (2004). Still others have suggested that the utilization of interdisciplinary courses may result in higher levels of student achievement (Braun, 2009). An interdisciplinary course has been defined as a course with a minimum of two instructors from different departments a course that is a class where ideas and perspectives are synthesized. Consider, for example, developing a course that is a combination of accounting and communication. 

It is possible that this approach might result in some improved or increased level of student interest and participation. This approach might best be left to the upper-level courses and seemingly would not lend itself very well to the principles of accounting courses. Flexible teaching and learning can be approached as incorporating four fundamental aspects (Merino, 2003) first, flexibility can be provided through a range of teaching and learning strategies such as lectures with tutorials, independent study. Discussion / seminar groups, debates, and ICT- based education. Second, flexibility may also be provided by permitting alternative program design by incorporating such notion as modularization of the content and/or courses which would allow learners to devise a sequence that best suits their particular needs and to negotiate assessment strategies that best reflect their learning styles. Third, flexibility can be built into organizational structures and policies through the use of such devices as summer schools block programs, immersion programs, part-time evening programs, distance learning, and mixed mode programs. And finally the most difficult aspect- and one that is really addressed or considered is the provision of flexibility through the institution administrative policies and procedures, such as open entry exit. Still other writers have surmised that the accounting teaching method required depends on the accounting object trying to be achieved (Nworgu, 1991). 

This framework recognizes the need to first establish the learning objective and the material needed to accomplish that objective. Various objectives require various types of skill sets. It is suggested that learning objectives that require simpler skills can be set be achieved with more passive teaching methods while learning objectives that require more complex skills can best be accomplished with methods that require a more active learner orientation. Again this active learner orientation would include such methods ass case studies, group aspect and other activities that depend on active participation and greater use of communication skills. The researcher observed that teaching and learning of principles of accounting can be made difficult when a teacher fails to recognize that they have a natural tendency to impact concepts in a way that may not match how the students might perceive is the best what to learn. Since most accounting teachers are trained teachers, that tendency can be problematic for students, who naturally, may be less motivated to learn accounting g because of fear of figures. The teacher must determine the most effective teaching style can be used to achieve the learning goals. Further, with the framework of style, teachers must determine which teaching methodology, for example, lecture, discussion, case studies, experiential learning, computer/ technology aided learning, best help in achieving the learning outcomes for non-accounting majors. Adaptation could improve students educational experiences, by the use of language and teaching materials designed to match the students‟mental program preferences.