The Effects of Learning with Cloud Accounting

The effects of learning with cloud accounting

Updating and enhancing unit content, delivery, and management

The importance of using highly functional online platforms and tools.

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The Effects of Learning with Cloud Accounting On Graduate Employability Skills

3.11.21 | UBSS Publications

Published by Assistant Professor Mohammad Akbar

Issue 2 | Article 18

Abstract
Surveys conducted in three major Latin American (LATAM) countries in early 2020 showed that COVID-19 has created considerable uncertainty for students. However, they also showed that the sector has the capacity to make positive, permanent changes, and that institutions that are flexible and able to adapt quickly are most likely to succeed in the new and changed environment. The author discusses how institutional flexibility at UBSS allowed him to introduce a new digital tool in an accounting subject, and the effect this change has had on student satisfaction and acquisition of key employability skills.

Introduction
The COVID-19 pandemic has caused severe problems for most higher education providers and their students. Providers have had to move abruptly from mainly face-to-face (F2F) to wholly online or distance-learning, and students have had to accept the change in delivery mode while adjusting to lower and more uncertain incomes. However, the pandemic has also provided both providers and students with a much greater understanding and appreciation of online learning, including the importance of using highly functional and student-friendly online platforms and tools.

The EY-Parthenon surveys
Prior to COVID-19, the share of students enrolled in online programs was only 15% in Mexico, 14% in Peru, and 8% in Colombia. The onset of COVID-19 and the ensuing quarantine forced the closure of all campuses in these countries, but with the requirement that the continuity of education be maintained. By the end of April 2020, higher education providers had agreed to move all delivery online. In the same month, teams from EY-Parthenon, a global strategy consulting organisation, conducted digital surveys of 4,800 higher-education students in these three countries. Their aim was to get a better understanding of both the short-term effects and the longer-term implications of the COVID-19 pandemic for the higher education sector in Latin America.

The surveys indicated that the short-term outcomes were mixed. Some providers, mainly in the private sector, were reasonably well-prepared for online delivery, but others, especially in the public sector, were not. The situation was the same for students, with some students being well-equipped to undertake online learning but many others not having access to broadband or to a computer or tablet in their homes. The situation was aggravated by a deterioration in personal economic circumstances. The EY-Parthenon teams found that 91% of Mexicans thought that the pandemic would have a negative impact on their salaries, with 64% already experiencing a decrease in income of at least 60% (Lytle, 2020). These developments had increased the demand for financial aid and tuition adjustments and had led many students to switch to free online education platforms like Udemy, Coursera, Skillsshare, EdX, and MasterClass.

The medium and longer term outlooks were also mixed. The surveys suggested that the less favourable economic conditions would reduce the demand for tertiary education. Students would also place greater importance on the functionality and user friendliness of EdTech platforms and tools. However, the prospect of an extended lockdown period would also be seen by some providers as an opportunity to expand their online capabilities. EY-Parthenon suggested that the providers that are the most flexible and can adapt most quickly would be best placed to exploit the opportunities for growth in the new online environment.

Essential requirement of improving employability skills
Business schools have structured units that students must pass to complete an accounting degree. Most accounting degrees require students to take two basic accounting units; two intermediate accounting units; a tax, a cost accounting, and an auditing unit; and perhaps an accounting information systems unit along with management, marketing, and other accounting specialisation units. To promote active learning, a strong connection between industry practitioners and academics is required. Increased emphasis is also being placed on experiential learning as educators focus on the new technological tools becoming available in the accounting industry. The challenge is for providers to meet, within a few classroom hours, all the requirements of the education provider while still preparing students for the CPA Exam. In many cases, it is left to employers to teach graduates the new technology skills they need to succeed in the accounting profession (PICPA, Articles, 2019).

There is a growing concern about the quality of higher education as graduates require job-ready training and participation in Continuing Professional Development (CPD) programs to meet industry requirements. When planning CPD for accountants at UBSS, it was found that in most cases there is a need for some hands-on training in the use of new technological tools.

According to Professionals Australia, CPD involves maintaining, enhancing, and extending knowledge expertise and competence of professionals, including:

keeping up to date with technical developments in relevant area(s) of specialisation;
extending knowledge into other relevant fields;
honing existing skills and developing new ones;
developing an understanding of the practical application of new skills and knowledge;
applying learning and accumulating experience (Fitzell, 1970).

Changes to an accounting subject at UBSS
The author teaches IT for Accounting (BAC11) at UBSS. It is one of the units aimed at helping students develop their IT skills. Prior to Term 2, 2019, UBSS had used a stand-alone version of MYOB AccountRight to train students. However, well before COVID19, the UBSS lecturers recognised the need to move to online accounting software, since:

students could only access MYOB when they were physically present in the UBSS computer lab, severely restricting their practice time; and
students using MacBook faced great difficulty installing the free version of MYOB, making it hard for them to submit assignments on time.

After considerable research, UBSS decided to switch from MYOB to Xero. By the end of the term, it was clear that this was a good decision. Student participation improved. The accounting academics did not know about COVID-19 back then, but this change allowed them to avoid some major problems when the School was required, in early 2020, to switch to online delivery.

Xero has developed a special platform that allows educators to train learners with the same version that is used by professional accountants. The platform provides teachers with Administrator Rights, allowing them to monitor the progress of students. Also, due to a two-step authentication process, it makes it difficult for students to give access to any third party to do their assignments. Xero’s online tools have made teaching and assessment more effective and much easier.

Without the demonstrations included on Xero, it is difficult to show students how accountants work in real life. UBSS lecturers can now demonstrate to students exactly how accountants process accounts receivable, accounts payable, payroll, and other transactions undertaken by a typical accounting department in an organisation.

At UBSS, students are learning with what is probably the most popular cloud accounting software. As a result, they will be more employable when they graduate. The author has adopted this same model in other institutions at which he teaches, and at all places he has experienced more and better student participation. It is likely that the reason behind the improvement in learning is the realisation by students that accounting is not a boring, number crunching, and difficult job. By learning through Xero, they realise that accounting can be fun and easy, and as a result they involve themselves more actively in the learning process.

References
Fitzell, D. J. (1970, Jan 1). The importance of continuing professional development.
Retrieved from: http://www.professionalsaustralia.org.au/australian-government/blog/the-importance-of-continuing-professional-development/.

Lytle, R. (2020). How COVID-19 has impacted higher education in Mexico, Colombia and Peru. EY-Parthenon Education sector.
PICPA, Articles. (2019, Apr 19). Retrieved from PICPA - Pennsylvania Institute of CPAs: https://www.picpa.org/articles/picpa-news/2019/04/23/pa-cpa-journal-prepping-accounting-students-for-a-new-tech-world.

PICPA, Articles. (2019, Apr 19). Retrieved from PICPA - Pennsylvania Institute of CPAs: https://www.picpa.org/articles/picpa-news/2019/04/23/pa-cpa-journal-prepping-accounting-students-for-a-new-tech-world.

Biography

Assistant Professor Mohammad Akbar lectures in accounting subjects at UBSS. He has MBAs from universities in both Bangladesh and Australia. Mohammad is also Associate Dean (Learning and Teaching) at Polytechnic Institute of Australia. Currently he is pursuing research in accounting education at University Malaysia Perlis. He has considerable experience in Marketing and Sales, especially in the Entertainment and Internet Service Provider (ISP) industries.