A REPORT ON
WHAT SKILLS AND ATTRIBUTES DOES AN ACCOUNTING GRADUATE
NEED? EVIDENCE FROM STUDENT PERCEPTIONS AND EMPLOYER
EXPECTATIONS
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PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITYWhat skills and attributes does an accounting graduate need?
Evidence from student perceptions and employer expectations
PREPARED FORMD. ZAKIR HOSEN
Lecturer,Department of Accounting and Information System
Faculty of Business Administration and Management
SUBMITTED BY
Group: 01(Warrior)
Level-4, Semester-I
Faculty of Business Administration and Management
Course Title: Auditing
Course Code: AIS 416
Date of Submission: May 28, 2009
PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITY
Letter of Transmittal
Name of the students Reg. No. Roll No.
Md. Kamruzzaman (L) 00660 01
Shuvradeb Barai 00668 09
Abu Zafour 00680 21
Sahana Parveen 00666 07
Nazmul Alam Siddiqui 00565 24
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Date: May 28, 2009
To
MD. ZAKIR HOSENLecturer,Department of Accounting and Information SystemFaculty of Business Administration and Management
Subject: Letter of Transmittal
Dear Sir,
Here is the report on “What skills and attributes does an accounting graduate need?
Evidence form student perceptions and employer expectations” You asked us to
prepare this report as a course requirement of Auditing.
This report focuses on the accounting graduate’s skill and attributes. We are proud
of making this report. We have tried our level best to make the report informative
and fruitful. For any classification we will be available and looking for such term
paper in coming days. We will be happy to get such type of report further.
Sincerely Yours
Group: 01(Warrior)
Level-4, Semester-1
Faculty of Business Administration and Management
Patuakhali Science and Technology University
Letter of Authorization
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Date: May 28, 2009
To
MD. ZAKIR HOSEN
Lecturer,
Department of Accounting and Information System
Faculty of Business Administration and Management
Subject: Declaration regarding the validity of the report
Dear Sir,
This is our truthful declaration that the “What skills and attributes does an
accounting graduate need? Evidence form student perceptions and employer
expectations” we have been prepared is not a copy of any report previously made
by any other students.
We also express my honest confirmation in support of the fact that the said “Report”
has neither been used before to fulfill any other course related purpose nor it will
be submitted to any other person or authority in future.
Yours truly,
Group: 01(Warrior)
Level-4, Semester-I
Faculty of Business Administration and Management
Patuakhali Science and Technology University
ACKNOWLEDGMENT
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At first we desire to express our deepest sense of gratitude of almighty Allah. With
profound regard we gratefully acknowledge our respected course teacher Md.
Zakir Hosen, Lecturer, Department of Accounting and Information System, Faculty
of Business Administration and Management for his generous help and support for
preparing this report.
We like to give thanks especially to our Elder brother of 1st Batch students, friends,
the employers of two CA Firm- M.M.HOSSAIN & CO. and K.M. ALAM, KHALEQUE &
CO. & many individuals, for their enthusiastic encouragements and helps during the
preparation of this report and for their assistance in typing and proofreading this
manuscript.
EXECUTIVE SUMMARY
This report is an assigned job as a partial fulfillment of course requirement by
honorable Course teacher Md. Zakir Hosen Lecturer, Department of Accounting &
Information System, Faculty of Business Administration and Management,
Patuakhali Science and Technology University. It is the optimum aggregated
outcome of 5 pupils’ about “What skills and attributes does an accounting graduate
need? Evidence form student perceptions and employer expectations” The view of
this report is to find out what skills and attributes are basically needed for an
accounting graduate to make his duty profissionaly in the practical job field. As well
as we try to find out both personal and professional skills of the accountant through
our report. We hope those focus point will help the person who want to become a
successful accountant in his future life.
ABSTRACT
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In the last decade the development of appropriate skills and attributes in students set
to enter the accounting profession has been the subject of many debates. It has been
much debate between various stakeholders about the need for accounting graduates
to develop a broader set of skills to be able to pursue a career in the accounting
profession. Accounting academics have a leading role to play in this process. This
study investigates what attributes and skills are needed for a graduate accountant in
respect of student perceptions and employer expectations. This study uses mixed
methods to examine perceptions and expectations of two major stakeholders: students
and employers. Findings indicate that students are becoming aware of employers
expectations in terms of communication, analytical, professional and teamwork skills.
Although employers are still expecting a good understanding of basic accounting skills
and strong analytical skills, they are also requiring business awareness and
knowledge in terms of the real world. Accounting academics perceive should be
developed during an undergraduate course, and compares this to skills and attributes
that they believe are being developed. Results reveal that there is a large discrepancy
between the two. Reasons why this might be are discussed and insight into issues
accounting educators must address if they are to deliver graduates with the skills and
attributes required for a career in the accountancy profession now and in the future
are highlighted.
INTRODUCTION
An accountant is one who is responsible for reviewing, evaluating, analyzing, and
verifying particular data or information. Accountants are most often employed in
the Accounting or Financial fields, though other fields might also utilize Auditors.
An Accountant might be responsible for examining a wide variety of data, facts and
figures, and other information, toward providing verification and integrity of the
business at hand. Some examples of accountants duties include: Verification of
Payroll records, insurance claims and resolutions, Bank transactions, bookkeeping
practices and figures, and other similar responsibilities. Accountant must be honest,
trustworthy, organized, not afraid of details, statistics or numbers, and must be
keenly involved in the business at hand, to ensure accuracy and integrity of the
auditing process. Accountant must also be comfortable with mathematics, statistical
analysis, problem solving, and other similar disciplines and for acquiring those skill
and attributes he directly need academic degree with relative experience.
Some people who are into this profession have the tendency of not updating their
skills. As the result they lack the skills required and are unable to match the
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competency of skilled workers. Hence, for an Accountant of any country of the
world, it is important to hone up their skills regularly. So become a professional we
need regularly update yourself.
LITERATURE REVIEW
Accounting graduates require professional skills, they need to develop them while
studying at university and that educators of future professional accountants should
be committed to developing the relevant attributes identified as desirable for the
professional practice of accounting suggested that ‘the strongest message that I can
bring before you is to plead for stronger and more effective co-operation between
academics and educators on the one hand and accountancy practitioners on the
other. We use the term ‘accounting practitioners’ in the widest possible way to
indicate all of those outside academia who are working in the field whether this be
public practice, industry, commerce or the public sector.” To this end the role of the
profession is to specify and communicate the skills and knowledge needed to be an
accomplished practitioner and the responsibility for curriculum development and
appropriate teaching methods rest primarily with the academic community. Quite
simply the professionals need the intellectual and research abilities which the
academics can bring to the table. Equally, the educators need the guidance of the
profession in identifying the skills need the guidance of the profession in identifying
the skills and knowledge needed to be an accomplished practitioner.
Bricker (1993) traces the role of research in business education suggests that by the
1980s practical research was frowned upon in many accounting faculties. Most of
the research was highly mathematical, used sophisticated statistics, and employed
theories that were at times exotic and addressed issue of little concern to
practitioners.
Many writers have reinforced the view that oral and written communication skills
are considered to be the two most important skills. However, Mangum (1996)
indicated that poor communication skills were among the top two greatest
shortcomings of job candidates reported by employers. This was supported by
Borzi and Mills 2001 who discovered a significant level of communication
apprehension in upper level accounting students suggesting that changes to the
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manner in which this skill in particular is developed within the curriculum need to
be addressed.
In a study involving accounting academics Watty et al (2005) found evidence of
recognition by academics of the growing importance of developing skills in addition
to those of a strictly technical nature. Other studies have argued that accounting
and business students must develop more than technical skills to succeed. Albrecht
and Sack (2006), Herring and Williams (2007), Needles and Powers and Zeff all
recommended abandoning a wholly procedural (technical) approach to financial
accounting.
Hunton argues that, since many traditional accounting tasks dealing with recording
and processing of accounting transactions can be reliably automated, an
accountant’s worth is now reflected in higher-order critical-thinking skills. Elliott
and Jacobson suggest that accountants need education in complementary bodies of
knowledge such as organizational behavior, issues in strategic management and
measurement and analytical skills. Johnson & Johnson suggest that successful
accountants in today’s business environment must possess a different skill set
including interpersonal and communication skills, intellectual and creative
problem- solving skills.
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METHODOLOGY
Sample
We conducted a study involving data collection from accounting academics in our
university. In our survey we selected academics for students as well as the Charter
Accountant’s Firm for employee as a sample. We carefully select 15 students of
Patuakhali Science and Technology University of BBA as our Sample. We also select
tow Charter Accountant Firm through convenience method form our country
named- M.M.HOSSAIN & CO. and K.M. ALAM, KHALEQUE & CO.
We collect carefully 5 employers of those organizations and collect necessary data
from them by using a common interview schedule’. We carefully analysis their
primary data through tabulation, chart, graph etc. Our analysis data are given in the
main body of the report through different table, chart, graph and their proper
analysis.
Data Collection
Data collection involved administration of a survey which was adapted both over
students and employee. We collect data by using two way, firstly- primaray data
and secondly the secondary data. We collect primary data by developing a
interview schedule and secondary data are collected from CA Firms websites and
other paper documents. In our survey we consider scale point for –
• Student’s perceptions about the value and relevance of accounting degree at their
own universities is 1 for strongly disagree, 2 for disagree, 3 for partially agree, 4
for agree and 5 for strongly agree.
• Students and employers mean emphasis rating for skills: considered importance
to career verses extend deliver is 1 for no priority, 2 for priority, 3 for top priority.
Processing and Tabulation of Data
For achieving the objectives of the study processing and tabulation are necessary.
All collected primary data for the present data for the present study were coded,
tabulated, summarized and processed for analysis after collection of data form field
level. The first step was taken to scrutinize the data of each and every schedule to
find out any inconsistency or omission in the data collection and to avoid irrelevant
information. After completing the pre-tabulating task, actual tabulation was stared.
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Processed data were transferred to a master sheet and compiled with a view of
facilitating tabulation.
Analysis of Data
The data were analyzed on the basis of the objectives of the study. In the present
study tabular and descriptive techniques were mainly used for analysis of data.
Tabulation techniques were applied with the help of average, percentage, standard
deviation etc. to find out the meaningful results.
Limitations of the reports
Since our study is based on both primary and secondary data, there is a possibility
of getting fake information. If the surveyed personnel provide us with any
fabricated information about their own opinion, then the report findings may be
erroneous. Above all, this study is weak in some points. The notable ones are as
under-
The survey was conducted in a very short time so we were not able to collect
more information.
Information’s are their own opinion, so there stay the chance of biasness.
All employees of the Farm and students are not considered in this report.
The questionnaire contains some questions that, if answered properly, might
damage the company’s image. In this type of questions, the respondents
might provide generally acceptable answers. This risk was unavoidable.
Another limitation of this study is the person’s private information were not
disclosing some, data and information for obvious reasons, which could be
very much useful.
Lack of experience in this field.
Lack of proper authority to conduct the interview program.
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Development of Survey Questions
This study addresses the following survey questions:
SQ1: Why study accountancy?
Importance of accountancy
We live in an information age—a time of communication and immediate access to
data, news, facts, and commentary. Information affects how we live, whom we
associate with, and the opportunities we have. To fully benefit from the available
information, we need knowledge of the information system. An information system
consists of the collecting, processing, and reporting of information to decision
makers.
Providing information about what businesses own, what they owe, and how they
perform is an important aim of accounting. Accounting is an information and
measurement system that identifies, records, and communicates relevant, reliable,
and comparable information about an organization’s business activities. Identifying
business activities requires selecting transactions and events relevant to an
organization. Examples are the sale of iPods by Apple and the receipt of ticket
money by Ticketmaster. Recording business activities requires keeping a
chronological log of transactions and events measured in dollars and classified and
summarized in a useful format. Communicating business activities requires
preparing accounting reports such as financial statements. It also requires
analyzing and interpreting such reports. We must guard against a narrow view of
accounting. The most common contact with accounting is through credit approvals,
checking accounts, tax forms, and payroll. These experiences are limited and tend to
focus on the recordkeeping parts of accounting. Recordkeeping or bookkeeping, is
the recording of transactions and events, either manually or electronically. This is
just one part of accounting. Accounting also identifies and communicates
information on transactions and events, and it includes the crucial processes of
analysis and interpretation.
Technology is a key part of modern business and plays a major role in accounting.
Technology reduces the time, effort, and cost of recordkeeping while improving
clerical accuracy. Some small organizations continue to perform various accounting
tasks manually, but even they are impacted by information technology. As
technology has changed the way we store, process, and summarize masses of data,
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accounting has been freed to expand. Consulting, planning, and other financial
services are now closely linked to accounting. These services require sorting
through data, interpreting their meaning, identifying key factors, and analyzing
their implications.
Accounting is often called the language of business because all organizations set up
an accounting information system to communicate data to help people make better
decisions.
Users of Accounting Information
External Users
Lenders
Shareholders
Government
Consumers group
External auditors
Customers
Internal Users
Managers
Officers and directors
Internal auditors
Sales staff
Budget officers
Controllers
Internal Information Users Internal users of accounting information are those
directly involved in managing and operating an organization. They use the
information to help improve the efficiency and effectiveness of an organization.
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Managerial accounting is the area of accounting that serves the decision-making
needs of internal users.
Internal reports are not subject to the same rules as external reports and instead of
designed with the special needs of internal users in mind. There are several types of
internal users, and many are managers of key operating activities.
Research and development managers need information about projected costs and
revenues of any proposed changes in products and services. Purchasing managers
need to know what, when, and how much to purchase. Human resource managers
need information about employees’ payroll, benefits, performance, and
compensation. Production managers depend on information to monitor costs and
ensure quality.
Distribution managers need reports for timely, accurate, and efficient delivery of
products and services. Marketing managers use reports about sales and costs to
target consumers, set prices, and monitor consumer needs, tastes, and price
concerns. Service managers require information on the costs and benefits of looking
after products and services. Decisions of these and other internal users depend on
accounting reports.
Both internal and external users rely on internal controls to monitor and control
company activities. Internal controls are procedures set up to protect company
property and equipment, ensure reliable accounting reports, promote efficiency,
and encourage adherence to company policies. Examples are good records, physical
controls (locks, passwords, guards), and independent reviews.
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Opportunities in Accounting
Accounting information affects many aspects of our lives. When we earn money, pay
taxes, invest savings, budget earnings, and plan for the future, we are influenced by
accounting. Accounting has four broad areas of opportunities: financial, managerial,
taxation, and accounting-related. Exhibit 1.3 lists selected opportunities in each area.
Accounting Jobs by Area
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Opportunities in Accounting Opportunities in Accounting
FinancialFinancial ManagerialManagerial TaxationTaxation Accounting related Accounting related
Preparation
Analysis
Auditing
Regulatory
Planning
Criminal
investigation
General
accounting
Cost accounting
Budgeting
Internal auditing
Consulting
Controller
Treasure
Strategy
Preparation
Regulatory
Planning
Investigations
Consulting
Enforcement
Legal services
Estate plans
Ledger
Consultants
Analysis
Traders
Directors
Underwriters
Planners
Appraisers
Accounting specialists are highly regarded. Their professional standing often is
denoted by a certificate. Certified public accountants (CPAs) must meet education
and experience requirements, pass an examination, and exhibit ethical character.
Many accounting specialists hold certificates in addition to or instead of the CPA.
Two of the most common are the certificate in management accounting (CMA) and
the certified internal auditor (CIA). Employers also look for specialists with
designations such as certified bookkeeper (CB), certified payroll professional (CPP),
and personal financial specialist (PFS).
Individuals with accounting knowledge are always in demand as they can help with
financial analysis, strategic planning, e-commerce, product feasibility analysis,
information technology, and financial management. Benefit packages can include
flexible work schedules, telecommuting options, career path alternatives, casual
work environments, extended vacation time, and child and elder care.
Demand for accounting specialists is boosting salaries. Reports average annual
salaries for several accounting positions. Salary variation depends on location,
company size, professional designation, experience, and other factors. For example,
salaries for chief financial officers (CFO) range from under $75,000 to more than $1
million per year. Likewise, salaries for bookkeepers range from under $30,000 to
more than $80,000.
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Accounting Salaries for Selected Fields
SQ2: What academic qualifications are needed for being an accounting
graduate?
For being an accounting graduate may be required studying combined or double
degrees or others significant degrees. In academic qualification may have BBA,
MBA, CA, ACCA, CMA and so forth. CMA is a Certified Management Accountant. This
is different from a Certified Public Accountant. A Certified Management Accountant
is employed by a business firm or a not-for-profit organization, and deal with
private accounting. A CMA can obtain employment by companies, government, and
non-for-profit entities. A CMA can obtain employment as a Bookkeeper, Payroll
Clerk, General Accountant, Budget Analyst, Cost Accountant, Internal Auditor, or
Information Technology Auditor. These CMA careers have starting salaries ranging
from $28,500 to $72,500, which is much higher than the salary range for CPAs. A
Bookkeeper does not need to have any certification, and therefore does not have to
be a CMA. A Payroll Clerk must have certification called Certified Payroll
Professional, or CPP, but does not need to be a CMA. A general accountant or budget
analyst may not be required to be a CMA, but many CMAs begin as a general
accountant or budget analyst. A Cost accountant must be a CMA and be licensed by
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whatever state agency monitors and regulates accountancy in that state. An Internal
auditor must be a CMA and have an additional certification as a certified internal
auditor, or CIA. An Information technology auditor must be a CMA and also have
certified information system auditor licensing, or CISA.
SQ3: What Skills and attributes are required to become an Accountant?
Skills and Attributes Required for Accountants
The main job of an accountant is to do journal entries, maintain ledgers, carefully
prepare profit and loss accounts and carefully tally the balance sheet of the
company. But these days are expected to do bit more than usual. Now, an
accountant job is to prepare financial statement that includes audits, reviews,
compilations, agreed upon procedures, forecasts and projections, payroll tax
preparation (monthly, quarterly and annually), financial statements (monthly,
quarterly and annually), accounting systems evaluation, analysis and
implementation. Seem to be a tough task. Well to make the job much simpler for
Accountant, there is different software available in the market. So calculations have
become bit simpler and faster too. If anyone has planned to be among the top
Accountant, then it is suggested to learn. Side by they should have the following
skills—
Capabilities to study, evaluate, and interpret
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Interest for mathematics
Good communication skills (both verbal and Written)
Have accounting software package knowledge
Some people who are into this profession have the tendency of not updating their
skills. As the result they lack the skills required and are unable to match the
competency of skilled workers. Hence, for an Accountant, it is important to perfect
up their skills regularly. With the advent of Internet, accountants try to keep
complete transparency of the work they do and are in constant touch with the
customer and provide them with competent services.
Mathematical aptitude and strong analytical skills top the list of must have
attributes for an accountant. Certified public accountants will study high level math
and statistics in addition to specific accounting skills. Sciences, while not directly
applied in accounting, are required as well, and they complement the analytical
thinking necessary in accounting. Accountants who aren't CPAs don't have to meet
the same stringent educational requirements, but will likely study many of those
same topics.
Accounting is an exceptionally time sensitive job that requires strong organizational
skills and a talent for scheduling and multitasking. An accountant is at ease breaking
large jobs into smaller tasks and completing them on schedule, or delegating them,
so that deadlines are not missed. The ability to track several tasks simultaneously
helps an accountant know when a project won't be completed on time, so that this
can be communicated to the client.
Accountants are detail oriented. Small accounting errors such as the incorrect
placement of a decimal point can result in big financial losses. Consequently,
impatience and sloppiness have no place in accounting. Also, those who have a lot of
trouble recognizing errors while proof reading or checking columns of numbers
could find themselves at a disadvantage.
Technology skills required for accounting include ability to use spreadsheet and
database programs, and familiarity with common accounting software. Accountants
must also keep abreast of the latest systems to track and share financial data within
an office and also between corporate branches of larger companies.
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A successful accounting career depends upon interpersonal skills as well as
technical expertise. Accounting tasks are often solitary, but they're usually
part of a larger project that requires team work. The ability to communicate
and cooperate effectively with coworkers and clients is what helps bring
necessary data together to accomplish accounting tasks. Outside of work, an
accountant needs to make an effort to network with colleagues and clients in
social settings or recreational outings like business lunches or golf dates.
SQ4: What Personal Skills or Qualities are needed to become an Accountant?
Several skills and attributes are required to become an accountant. The most
significant skills and attributes are mentioned as follows—
Strong analytical and problem solving abilities
Good attention to detail
Logical thought processes
Mathematical and numeracy skills
Good communication skills to be able to build rapport with clients/internal
stakeholders
Discretion with confidential information and
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The ability to keep up-to-date with an organization’ financial management
policies as well as commonwealth and state laws.
Leader and strong advocate of Finance
Strong communicator with stakeholders from varied backgrounds
Excellent team working skills
Self starter with a willingness to learn and develop new skills
Capable of offering effective challenge
Appetite for tackling difficult problems and seeing through to resolution.
Knowledge of the basic theories, principles, methods, and procedures of
professional accounting
Knowledge of office methods and procedures
Knowledge of automated data processing systems
Ability to prepare complete and accurate accounting reports
Ability to perform detailed work involving the application of accounting
theory to routine accounting problems
Ability to evaluate routine accounting problems and analyze and interpret
less complex accounting records and reports
Ability to perform detailed work involving written or numerical data and
make arithmetical calculations rapidly and accurately
Ability to operate office accounting machines and equipment
Ability to work effectively with others
SQ5. What professional skills does employers expect that an accounting
graduate to possess at entry level?
The literature highlights the facts that often employers and students have different
perspective about the nature of the professional skills that are required for a
successful accounting career. There are most important criteria used by employers
for selecting accounting graduates are the graduates’ motivation or interest in the
job, personal qualities and communication skills. However, accounting graduate
perceive examination result to be the most important criterion used by employers
followed by personal qualities and communication skills. Some qualities, skills and
attributes are discussed as follows—
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Self-Confidence and Self-Assurance
Several management accountants mentioned the confidence factor. “The entry-
level people are not very assertive. They are so timid and scared,” observed a
Hewlett-Packard accountant. An accountant at a Caterpillar production facility cited
universities as the problem. “I think that schools could better pre-pare people for
the work environment … they have to teach students how to talk to people and not
step on their feet.”
One solution is to do things that generate self-confidence, such as getting a broader
education or becoming involved in sports. Nevertheless, as time passes, confidence
will increase. “Once they’ve been around for a couple of years they find out they
were really pretty assertive all along,” said the Hewlett-Packard accountant. “The
few who become real stars are the ones that have that assertiveness to disagree
with their manager.”
Accounting Skills/the Basics
It may seem obvious, but management accountants should be grounded in both
managerial and financial accounting. They also should take a few management
courses to appreciate and relate to leaders. “The first piece of advice I would give
them is to learn the basics,” another HP accountant said. “Be very competent in
spreadsheets and decision tools, plus other things like OLAP and reporting
products.”The same view was expressed at Abbott Labs. An accountant there
advised students to ground themselves in their technical skills: Cost accounting,
General accounting, and Financial statement analysis.
He also urged students to take audit, cost accounting, and, if possible, operations
classes. He noted the value of classes with teamwork and unstructured
assignments. Those skills and the ability to find information will be handy in the
business world.
Communication, Initiative, and Leadership
As fundamental as accounting skills are, they aren’t sufficient for success.
“Leadership, initiative, communication skills. These are our top three. If you don’t
have these, you don’t have a place here at Caterpillar,” said one accountant. Indeed,
at the company headquarters, some entry-level employees give presentations to
group presidents after only three to six months. At the core of communication skills
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is the ability to take a complex subject, boil it down into easily understood language,
and explain it to non accountants. Interpersonal skills are critical—you should be
able to influence people and must be comfortable dealing with coworkers at
different levels. After all, you aren’t always talking to a peer. To succeed, you need
initiative.
This means taking that extra step, asking a coworker or supervisor if they need
help, making recommendations after you do the analysis on a problem, or finding
alternatives and making recommendations to management. It means following
through to complete the picture.
Critical Thinking
For many companies, critical thinking and its corollary, creative problem solving,
are key. Accountant should be able to step back and look at something “out of the
box.” “The skills that I find the hardest to get in people are analytical thought
processes and critical thinking,” said a Caterpillar management accountant. “Nine
out of 10 people that I see coming here can be wizards at spreadsheets, can
manipulate data effectively, but they aren’t very good at figuring out whether the in-
formation in front of them is reasonable or realistic.
Accuracy
Accuracy is crucial. An error in a calculation could amount to millions of dollars,
which in turn could lead to an erroneous decision. A Boeing executive highlighted
the difference between school and the work world: The real world “is not like a test
where you turn it in and get 10 points off because you screwed up on a number.
When anyone get into business and mess up numbers, the ramifications are a whole
lot bigger. It’s part of his job and his responsibility to check every number or to set
up a system where he knows that the numbers are correct.”
Other Advice to Students and Entry-Level Accountants
Accept the idea that training and education are a lifelong process.
Be more IT/database knowledge.
Have a passion for the business. Don’t work for a company if you have no
interest in what it does because you’re going to be required to strategically
influence that business.
Understand that business is different overseas. Cultures are different, the
way you do business is different, and markets are different.
Understand relationships between data and how systems work.
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Be able to think logically. If you can do that, then you can learn almost
anything fairly quickly because you won’t be memorizing.
Have a good business understanding. Be able to look at a business and really
understand what drives it and what the key factors are those make it go well
or not go well.
Be able to do projections, set goals, and determine a path to get to that goal.
Be able to work in a team environment.
Be able to apply what you learn.
Be mature. I don’t know if you can teach that, but with business comes a
higher level of responsibility.
Develop computer skills.
Develop writing skills.
Be patient enough to work in a bureaucracy and impatient enough to be
willing to change it.
Be willing to take risk—it’s the only way to grow.
Be willing to make mistakes, and don’t let them devastate you. Be smart
enough not to make the same mistake twice.
Have a good idea of how a company runs.
Continually educate yourself, whether it’s formal or informal, taking
additional courses or keeping current.
Have a process view, be very process focused, and look at things not just
where finance starts and ends but as a whole.
Have high energy and a positive attitude. Be very proactive.
Have integrity. If you are going to become the confidant of the top
management people, if you are going to be the advisor, they’ve got to trust
you implicitly.
We can compare undergraduates’ and employers’ perceptions of the importance of
skills across five board areas –
Interpersonal
Communication
Technical
Computer and
Business-economic skills
The students consistently ranked all areas higher in importance than their potential
employers. In another study involving undergraduate business students and
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employers, and employers ranked verbal communication, problem solving, and
listening skills as the top three general business skills, but for other skills there
were clear differences. There are some generic skills in the core curriculum in
accounting; these factors have been identified as representing the skills that
students perceived as being important to their careers, these factors are shown in
the following figure.
Figure: Generic skills in the core curriculum in accounting
SQ6. What professional skills are required for complete a standard
unqualified audit report?
An Auditor is one who is responsible for reviewing, evaluating, analyzing, and
verifying particular data and information. Auditors are most often employed in the
Accounting or Financial fields, though other fields might also utilize Auditors. An
Auditor might be responsible for examining a wide variety of data, facts and figures,
and other information, toward providing verification and integrity of the business
at hand. Some examples of Auditor duties include: Verification of Payroll records,
Page 24
Routine and technical skillsRoutine and technical skills
Analytical/ design skillsAnalytical/ design skills
Appreciative skillsAppreciative skills
Personal skillsPersonal skills
Interpersonal skillsInterpersonal skills
Combined skillsCombined skills
insurance claims and resolutions, Bank transactions, bookkeeping practices and
figures, and other similar responsibilities. Auditors must be honest, trustworthy,
organized, not afraid of details, statistics or numbers, and must be keenly involved
in the business at hand, to ensure accuracy and integrity of the auditing process.
Auditors must also be comfortable with mathematics, statistical analysis, problem
solving, and other similar disciplines.
Auditor should apply these attributes in order to:
1. Obtain and assess objective evidence fairly.
2. Remain true to the purpose of the audit without fear or favors.
3. Evaluate constantly the effects of audit observations and personal
interactions during an audit.
4. Treat concerned personnel in a way that will best achieve the audit purpose.
5. Perform the audit process without deviating due to distraction.
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Skills and
Attributes
Skills and
Attributes
Independence
Integrity
Tactfulness
Objectivity Objectivity
Persistence
Professional due care
Flexibility
Proper planning and supervision
ConfidentialityCommunication Skills
6. Commit full attention and support to the audit process.
7. React effectively in stressful situations.
8. Arrive at generally acceptable conclusions based on audit observations.
9. Remain true a conclusion despite pressure to change that is not based on
evidence.
SQ7. What are employer expectations about experience of an accounting
graduate?
In the modern time the work of an accountant will be highly challenging, stretching and
non-repetitive and, as such, it would be ideal for an individual who wished to build on
their existing accounting experience on their professional job field for build a better
future on accountants’ career. In the modern every professional job requires experience
and without experience getting a job is critical.
An account will not out of this condition they are also required experience when they are
seeking for any professional job. When a student work in an audit firm as an Article
student, he will gather vital accountancy experience form the firm. This experience will
help them to become a successful auditor in his professional life.
Employer always expects that an experienced graduate always more skillful in checking
evidence, adept in recording and mathematical calculation as well as in error correcting
of a report. The experienced also take little time than an inexperienced graduate when
they are in same work. So the experienced are always considered as the more qualified as
inexperienced.
Survey Questions and Answer at a Glance
Opinion
Students Perceptions Employers Perceptions
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1. Importance of accounting
To build career on accounting professionHigher range of salaries is offered with accountancy jobOpportunity area very huge with— private, public, and not-for-profit organization
It is the language of business, because all organizations set up an accounting information system to communicate data to help people make better decisions.Primary importance:Keeping permanent record, for preparing the appropriate financial statements including— balance sheet, income statement, cash flow statement, and equity statements. Secondary importance:Cost control, prevention of fraud, misappropriation, assessing the tax, and obtaining loan facility, Providing information about what businesses own, what they owe, and how they perform is an important aim of accounting.
2. What academic qualifications are needed for being an accounting graduate?
BBA, MBA, CA, ACCA, CMA BBA, MBA, CA, ACCA, CMA
3. What Skills and attributes are required to become an Accountant?
Academic degree it may be graduate or postgraduateDepth accounting knowledge Interest in accounting and good proficiency in mathematics
Academic degree it may be graduate or postgraduateProfessional degree such as CA, ACCA, CMA etc. Professional skills and attributes Experience in accounting related works
Page 27
Survey Questions and Answers at a Glance (Continued)
Opinion
Students Perceptions Employers Perceptions
4. What Personal Skills or Qualities are needed to become an Accountant?
Strong analytical and problem solving abilities Independency, integrity Good attention to detail Mathematical and numeracy skills Computer literacyKnowledge about accounting softwareInterpersonal Communicating Ability
Good attention to detail Independency, integrity Logical thought processes Good communication skills to be able to build rapport with clients/internal stakeholders Excellent team working skills Capable of offering effective challenge Ability to work effectively with others
5. What professional skills does employers expect that an accounting graduate to possess at entry level?
Self-Confidence and Self-AssuranceAccounting Skills/the BasicsCommunication, Initiative, and LeadershipCritical ThinkingAccuracyBe more IT/database knowledge.
Self-Confidence and Self-AssuranceInterpersonalCommunication, Initiative, and LeadershipCritical ThinkingAccuracyTechnical Computer and Business-economic skillsUnderstand relationships between data and how systems work.
Page 28
Survey Questions and Answer at a Glance (Continued)
Opinion
Students Perceptions Employers Perceptions[[[[[[
6. What professional skills are required for complete a standard unqualified audit report?
IndependenceObjectivity
Integrity
Flexibility
Adequate training
Adequate proficiency
Proper planning and supervision
Persistence
Tactfulness, Confidentiality Professional due care
Knowledge about internal control
Competency on evidence gathering
7. What are employer expectations about experience of an accounting graduate?
Students looking for gathering accounting
experience through internship in different
organization and working CA firms as a
article students
Employers looking for experience
graduate because they are more capable
in their professional work such as
recording, error checking evidence
collecting and analysis activities rather
than inexperienced.
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Table: 1
Student’s perceptions about the value and relevance of accounting degree at
their own universities
Questions Mean SD
1. Intend to undertake postgraduate studies (MBA) 4.2 1.22
2. CA is more preferable than doing MBA 3.4 1.55
3. A core accounting major in strength of any business 3.8 1.52
4. Undertaking a dual degree academic (BBA, MBA) and
professional degree (CA/ACCA) is very beneficial
4.4 0.40
5. Accounting and business education in Bangladesh today is
keeping up what it actually occurring in the business
environment
3.87 0.78
Scale: Strongly disagree = 1, disagree = 2, agree = 3, partially agree = 4, strongly
agree = 5.
Student’s perceptions about the value and relevance of accounting degree at their
own universities (Patuakhali Science and Technology University) are included in
the Table-1. Here we represents two statistical measures for evaluation their
perception about the value and relevance of accounting degree. Two statistical
measures are mean and standard deviation. Students felt that Undertaking a dual
degree academic (BBA, MBA) and professional degree (CA/ACCA) is very beneficial
than any single degree which means is 4.40 and standard deviation is 0.40. Students
indicated a greater preference for completing postgraduate degrees which mean is
4.2. Students felt that a core accounting major is strength of any business or
commerce degree. Many students express their perception that CA is more
preferable than doing MBA degree which means is 3.4. Standard deviation is 1.55,
and some students think that MBA is preferable than CA. another answer arises
from students that accounting and business education in Bangladesh today is
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keeping up what it actually occurring in the business environment which means is
3.87.
Page 31
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Graph-1
In this graph we represent the student perception about the values and relevance of
accounting degree. In this graph we symbolize the mean and standard deviation of
several questions answered by the students. They highly emphasizes for attaining
dual degree which consists of academic (BBA, MBA) and professional degree
(CA/ACCA) is very beneficial than the single degree (in question-4). The reason
behind that, in the present practical job field condition is very complex and thus the
students now want to undertake more than one degree. Side by side they also like
to emphasize the following subject matter sequentially - Intend to undertake
postgraduate studies (MBA), accounting and business education in Bangladesh
today is keeping up what it actually occurring in the business environment, a core
accounting major in strength of any business, CA is more preferable than doing
MBA.
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Table: 2
Student mean emphasis ratings for skills: importance to career versus extent
delivered
Skills and Attributes Considered
important
Extent delivered/
development
Differences
between column
1 and 2
Self motivated 2.47 2.00 0.47
Professional attitude 2.53 1.86 0.67
Oral communication 2.53 1.73 0.80
Decision making 2.26 2.00 0.26
Computer skills/ literacy 2.20 1.73 0.47
Risk propensity 2.23 1.98 0.25
Project management 2.75 2.50 0.25
Risk analysis 2.83 2.33 0.50
Problem solving 2.47 2.00 0.47
Critical thinking 2.53 2.20 0.33
Analytical skills and attributes 2.53 1.93 0.60
Ethical awareness 2.13 2.00 0.13
Teamwork 2.40 2.13 0.27
Written communication 1.93 1.73 0.20
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Basic accounting skills 2.33 1.93 0.40
Business awareness and real life
experience
2.67 2.33 0.34
Interpersonal skills and
facilitation skills
2.13 1.82 0.31
Continuous learning 2.80 2.27 0.53
Leadership 2.67 2.56 0.11
Accounting software knowledge 2.10 2.00 0.10
Students indicated that all of the listed skills and attributes in the table-2 are most
important and continuous learning is rated most important to future careers. In this
table -2 we considering two significant things- considered important and extent
delivered/developed. In this table we represent twenty principles skills and
attributes and rate of these skills. In this table we assume that standard rate for no
priority is one, priority is two and high priority is three. Here we calculate Mean of
those two components and provide differences. Self-motivated, professional
attitude, oral communication, decision making, computer literacy, problem solving,
critical thinking, analytical skills, teamwork are rated as the top skills. To add
richness to the discussion and to reduce the complexity of the finding, further
analysis of the data relating to the skills set was conducted. Students think that
there are some skills which are less important in comparison to the above skills.
Such as accounting software knowledge, Interpersonal skills and facilitation skills,
written communication, Risk propensity, Computer skills/ literacy. But in overall all
skills are important for an account graduate.
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Page 36
Page 37
Table: 3
Employers mean emphasis ratings for skills and attributes: importance to their
career
Skills and Attributes Considered Important
Average SD
Self motivated 2.67 0.82
Professional attitude 2.33 0.73
Oral communication 2.80 0.51
Decision making 2.53 0.68
Computer skills/ literacy 2.40 0.76
Risk propensity 2.20 0.91
Project management 2.80 0.93
Risk analysis 2.56 0.59
Problem solving 2.33 0.52
Critical thinking 2.40 0.88
Analytical skills and attributes 2.46 0.55
Ethical awareness 2.67 0.56
Teamwork 2.73 0.38
Written communication 2.00 0.51
Basic accounting skills 2.67 0.63
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Business awareness and real life
experience
2.60 0.78
Interpersonal skills and facilitation
skills
2.20 0.44
Continuous learning 2.87 0.39
Leadership 2.88 0.32
Accounting software knowledge 2.13 0.86
In table-3 we represents employers mean emphasis ratings for skills and attributes:
importance to their career. Here we focus several skills and attributes which are
important for the accountant graduates whom are think by the employer. They
provide strong emphasis on some factors like – Leadership, Continuous learning,
Project management, Teamwork, Written communication, Basic accounting skills,
Business awareness and real life experience etc. side they think the following
factors are less significance when it affect the accountants skills and attributes-
Accounting software knowledge, Risk propensity, Interpersonal skills and
facilitation skills, Professional attitude, Problem solving, Critical thinking etc. but in
overall all those factors are have significance influence on accounting graduates.
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Table: 4
Rankings for most important attributes and skills based on average scores by both
students and employers
Skills and Attributes Overall ranking
employers
Overall
ranking
students
Self motivated 5 6
Professional attitude 12 5
Oral communication 3 5
Decision making 8 9
Computer skills/ literacy 10 11
Risk propensity 13 10
Project management 3 3
Risk analysis 7 1
Problem solving 11 6
Critical thinking 10 5
Analytical skills and attributes 9 5
Ethical awareness 5 12
Teamwork 4 7
Written communication 4 14
Basic accounting skills 5 8
Business awareness and real life experience 6 4
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Interpersonal skills and facilitation skills 13 12
Continuous learning 2 2
Leadership 1 4
Accounting software knowledge 15 13
In table -4 we represent the Rankings for most important attributes and skills based
on average scores by both students and employers. It is acknowledge that the
information presented in the present paper is from an analysis of the notes and
transcripts of interviews conducted with persons from different employers.
Interviews as used in these studies provide information on reported behavior,
attitude and believes. When evaluated the data collected, it has to be remembered
that data yielded by different techniques differ in kinds. Although most
measurement in the behavioral sciences involved management error, judgments
made by human are especially prone to error. To overcome this, a case has been
made for the uses of aggregated data when they meet criteria inter rater agreement.
Finally, the demographic data could have included information on prior life
experiences that might have influenced respondent perception of the professional
skill required.
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Our ViewsAs students of BBA we think that both academic and professional skills and
attributes are truly necessary for our future career. Academic both undergraduate
and postgraduate degrees helps us to know the basic knowledge about accounting.
Without this basic knowledge it is impossible to develop ourselves for accounting
graduates in future. Side by side professional skills and attributes are also
necessary to perform our duties and responsibilities in the job areas/ field.
Professional skills and an attributes includes adequate training, adequate
proficiency, and professional due care, knowledge about internal control, and
competency on evidence gathering.
Experience on accounting job is now the time demand for every accounting
graduate. Reasons behind that now the job is too much complex and most of the
organization require higher experience when staffing their employees. So in short
we can conclude that both academic and professional degrees and related
experience are required to become a successful accountant.
CONCLUSIONAccounting is usually taken as one of the majors within the commerce degree.
Though the importance of accounting and auditing in making activities transparent
and corrupt free in the development process, it is difficult to gauge the extent of
their application in a mixed economy like ours where enterprises are managed by
private sector as well as the public sector. This role would offer the successful
candidate an opportunity to work as an integral part of a relatively small
professional Accounting team and thus get involved in a very wide range of
financial activities. The work will be highly challenging, stretching and non-
repetitive and, as such, it would be ideal for an individual who wished to build on
their existing accounting experience on their professional job field for build a better
future on accountants’ career.
Page 44
REFERENCES
Loebbecke K. James & Arens Alvin A., Auditing : An Integrated Approach,
Eight Edition, Prentice Hall International, Inc.,pp.75-103 & 141-165.
ACNielsen Research Services, 2008, Employer Satisfaction with Graduate
Skills: Research Report, Evaluations and Investigations Programme Higher
Education Division, DETYA.
Accounting Education Change Commission (AECC), 2007. Objectives of
education for accountants: Position Statement No. 1, Issues in Accounting
education 5(2), 307-312.
Albrecht, W.S. and R.J. Sack, 2000, Accounting Education: Charting the Course
through a Perilous, Accounting Education Series, 16, 1-72. Barrie S. 2008, A
research-based approach to generic graduate attributes policy, Higher
Education Research and Development, 23, (3), 261-275.
Bath, D., Smith, c., Stein S., & Swann, R. 2004, beyond mapping and
embedding graduate attributes: Bringing together quality assurance and
action learning to create a validated and living curriculum, Higher Education
Research and Development, 23, (3), 313-328.
Borzi, M.G. and T.H. Mills, 2009, Communication apprehension in upper level
accounting students: An assessment of skill development, Journal of
Education for Business, 76(4), 193-198.
Boyce, G., S. Williams, A. Kelly, and H. Yee, 2009, Fostering deep and
elaborative learning and generic (soft) skill development: The strategic use
of case studies in accounting education, Accounting Education 10(1), 37-60.
Braun, N.M., 2009, Critical Thinking in the Business Curriculum, Journal of
Education for Business, Mar/Apr, 78 (4), 232-236.
Page 45
DeLange, P., B. Jackling, and A. Gut (2008). , Accounting Graduates’
Perceptions of Skills Emphasis in Australian Undergraduate Accounting
Courses: An Investigation from 2 Victorian Universities, Accounting and
Finance, 46.,365-386.
APPENDIXDepartment of Accounting and Information System
Faculty of Business Administration and ManagementPatuakhali Science and Technology University
An Interview Schedule on:What skills and attributes does an accounting graduate need? Evidence from
student perceptions and employer expectations
Sample No: Sample type:
Name :
…………………………………………………………………………………………………...
Address :
…………………………………………………………………………………………………...
…………………………………………………………………………………………………...
Contact No. :
…………………………………………………………………………………………………...
Sex :
…………………………………………………………………………………………………...
Age :
…………………………………………………………………………………………………...
Occupation :
…………………………………………………………………………………………………...
Designation :
…………………………………………………………………………………………………...
Educational Qualification :
…………………………………………………………………………………………………...
Page 46
Q: 1. Why study accountancy?
……………………………………………………………………………………………………………………………..
……………………………………………………………………………………………………………………………..
……………………………………………………………………………………………………………………………..
Q: 2. What academic qualifications are needed for being an accounting graduate?
……………………………………………………………………………………………………………………………..
……………………………………………………………………………………………………………………………..
……………………………………………………………………………………………………………………………..
Q: 3. What Skills and attributes are required to become an Accountant?
……………………………………………………………………………………………………………………………..
……………………………………………………………………………………………………………………………..
……………………………………………………………………………………………………………………………..
Q: 4. What Personal Skills or Qualities are needed to become an Accountant?
……………………………………………………………………………………………………………………………..
……………………………………………………………………………………………………………………………..
…………………………………………………………………………………………………………………………......
Q: 5. What professional skills does employers expect that an accounting graduate to possess at entry level?
……………………………………………………………………………………………………………………………..
……………………………………………………………………………………………………………………………..
……………………………………………………………………………………………………………………………..
Q: 6. What professional skills are required for complete a standard unqualified audit report?
Page 47
……………………………………………………………………………………………………………..………………
……………………………………………………………………………………………………………………………..
……………………………………………………………………………………………………………………….........
Q: 8. What are employer expectations about experience of an accounting graduate?
……………………………………………………………………………………………………………………………..
…………………………………………………………………………………………………….……………….………
……………………………………………………………………………………………………………………………..
9. Table-1Student’s perceptions about the value and relevance of accounting degree at
their own universities
Student Perceptions Strongly
Disagree (1)
Disagree
(2)
Partially
Agree (3)
Agree
(4)
Strongly
Agree (5)
1. Intend to undertake postgraduate studies (MBA)
2. CA is more preferable than doing
MBA
3. A core accounting major is
strength of any business
4. Undertaking a dual degree
academic (BBA, MBA) and
professional degree (CA/ACCA) is
very beneficial
5. Accounting and business
education in Bangladesh today is
keeping up what it actually
occurring in the business
Page 48
environment
10. Table-2 Student mean emphasis ratings for skills: importance to career versus extent
delivered
Skills Considered Important Extent Developed
No Priority
(1)
Priority
(2)
Top
Priority(3)
No Priority
(1)
Priority (2) Top Priority
(3)
Self motivated
Professional attitude
Oral communication
Decision making
Computer skills/
literacy
Risk propensity
Project management
Risk analysis
10. Table-2 (continued)
Skills Considered Important Extent Developed
No Priority Priority (2) Top No Priority Priority (2) Top Priority
Page 49
(1) Priority(3) (1) (3)
Problem solving
Critical thinking
Analytical skills and
attributes
Ethical awareness
Teamwork
Written
communication
Basic accounting
skills
Business awareness
and real life
experience
Interpersonal skills
and facilitation
skills
Continuous learning
Leadership
Accounting
software knowledge
Page 50
11. Table-3Employers mean emphasis ratings for skills and attributes: importance to their
career
Skills Considered Important
No Priority Priority Top Priority
Self motivated
Professional attitude
Oral communication
Decision making
Computer skills/ literacy
Risk propensity
Project management
Risk analysis
Problem solving
Critical thinking
Analytical skills and attributes
Page 51
Ethical awareness
Teamwork
Written communication
Basic accounting skills
Business awareness and real life
experience
Interpersonal skills and
facilitation skills
Continuous learning
Leadership
Accounting software knowledge
Date:
………………………….....
.....
Signature of the interviewer
Name :
Reg. No:
Cell N o :
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