The adequacy of accounting education in the development of transversal skills needed to meet market demands

Abstract

Accounting education plays a critical role in preparing graduates for the evolving demands of the profession. However, in developing countries, a gap often exists between theoretical knowledge and practical skills required by employers. This study aims to identify this knowledge and practice gaps and propose a revised accounting degree program that integrates professional experience with academic learning. A structured survey was conducted among 150 respondents, including academics, students, and professional accountants, to collect data on the recognition of existing degree programs, employability, and the adequacy of graduates’ skills. The analysis employed frequency statistics, group difference tests, and ranking techniques to evaluate both technical and generic skills. Results indicate that while graduates demonstrate strong theoretical knowledge in accounting, they generally lack intellectual, interpersonal, and organizational skills crucial for workplace success. Stakeholders ranked problem-solving, analytical thinking, written communication, and time management as highly important skills for the proposed program. The findings support the need for a curriculum that proportionately balances technical expertise with generic competencies, fostering critical thinking, professional judgment, and adaptability to complex business environments. This study contributes to accounting education by providing a framework aligned with practical workplace requirements and offers actionable insights for policymakers, educational institutions, and professional accounting bodies. Future research can assess the effectiveness of implementing this proposed degree program in national and private universities and explore its adaptability to international accounting standards.