Practitioner and Faculty Perspectives on the Career Preparation of Entry-Level Public Accountants

Abstract

Entry-level public accountants in the U.S. must satisfy a litany of historically unparalleled requirements and demands. This unique set of challenges calls forth new questions about how effectively entry-level accountants are navigating the divide between their conceptual educations and the practical rigors of public practice. To examine these questions, we relied on qualitative analysis predicated on a theoretical framework of constructivism and systems theory. Our study confirmed practitioners' perceptions about the preparation of entry-level accountants that have been documented for nearly a hundred years: Entry-level accountants' shortcomings often include written and oral communications skills, interpersonal skills and critical thinking skills. However, what is unique to this study is that we also considered faculty perspectives. Faculty concurred with practitioners' perspectives on entry-level accountants' strengths and weaknesses-noting considerable growth in most problem areas over the college years. Practitioners and faculty also largely agreed about the pathway to successful and unsuccessful careers in public accounting. We suggest that continuing the historical perspective of extreme separation between academia and the business world is not particularly beneficial to the career preparation of junior accountants. Rather, we recommend that viewing accounting faculty and practitioners as part of the same continuum is likely to be more advantageous to the preparation of entry-level accountants and to the profession as a whole. We also conclude that differences in faculty and practitioner perspectives serve as checks and balances on the accounting profession-although more collaboration might facilitate greater improvements.

Exploring the Transition of Newly Qualified Chartered Accountants From Practice to Industry

“…Whilst inductions can help CAs to adapt to their new environments, it is accepted that onboarding plays an important role in helping to socialise these new employees (Klein et al, 2015;Morrison, 2002). The mandate to enhance inductions for entry-level public accounting careers (Simms & Zapatero, 2012) could be extended to enhance career inductions of post-qualified accountants who transition from practice-based roles to industry-based roles. CAs were found to utilise networks of peers: those similarly experiencing transition and, to a lesser extent, prior practice work colleagues, consistent with Drew-Sellers and Fogarty (2010), who identified that early career management accountants understand that social networks are valuable resources.…”

“…Socialisation, also referred to as 'onboarding' (Klein & Polin, 2012), plays a role in helping organisations convey their culture to newcomers (Bauer et al, 1998) and helps them to adjust to a new work setting (Ashforth et al, 2007). Such processes, for example in the context of graduates transitioning to accountancy firms, include recruitment and selection, assessment of performance, training, mentoring, and career induction (McManus & Subramaniam, 2014;Simms & Zapatero, 2012). The need to study transition is driven by the rising frequency of job movements (Bauer et al, 2007) and the potentially long-term impacts that result from these transitions and socialisation processes (Bauer et al, 1998).…”

An Analysis of Generational and Job Rank Determinants of Accountants’ Work Styles

“…The field of accounting has undergone rapid changes in recent decades (Enofe et al, 2012). Professionals are now required to possess a bevy of competencies that were not essential in the past, including technological skills, interpersonal skills, intercultural communication and sales skills (Bahador & Haider, 2012;Simms & Zapatero, 2012). Today's accountants must also keep up with the changing needs of clients and update skills and expertise in order to stay competitive and be able to provide the broadest range of services to clients (AICPA, 2011).…”

“…Today's accountants must also keep up with the changing needs of clients and update skills and expertise in order to stay competitive and be able to provide the broadest range of services to clients (AICPA, 2011). Further, they must familiarize themselves, and grapple with Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) to stay updated on the field's ever-changing regulations (Kieso, et al, 2011;Simms & Zapatero, 2012).…”