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Integrated Accounting Projects Assignment Sample

Introduction - Integrated Accounting Projects

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The sustainable education practice in the Accounting curriculum is one of the most effective learning strategies for learning the subject in an effective way. With the advancement of time the concept of education and educational system has been changing. Therefore it is very important to change the strategy of education practice and system for choosing the appropriate method. Various studies and research reveals that the sustainable practice in the learning process is very beneficial and effective for understanding the whole thing in an appropriate way. Those researches and studies also found that day by day the demands and needs of sustainable education have been increasing. The reason behind such an increase is, Sustainable education system is that type of system in which the natural talent and energy of learning of a student is renewed “rather than depleted.” It enhances the ability of a student and makes them more skillful.

In this context it is very important to mention that the skill is one of the most important things, which helps to increase the efficiency of a student. It has been found in several studies that the education system in the ancient times was more focused on the development of knowledge among students but the sustainability in the education process focuses skill, attitude, values with knowledge and enhancing those things are very important for increasing the skill of students and understanding the subject in an effective way. In the context of the education process related to accounting curriculum it is very necessary to say that Accountancy is a practical based subject therefore the practical knowledge is very much required. The skill is also very important to learn for this subject. Enhancing the ability and skill can be very effective and beneficial for students for their future as the skill is one of the most important requirements for an accountant in their workplace. Therefore it can be said that sustainability is one of the most important things for the appropriate development and understanding of a student on a particular subject.

This paper is going to discuss the research paper of various researchers and analysts to understand the various things and aspects related to the topic and it will also find the literature gap and where the focus needs to be given.

Analysis of the Literature

Topic

Sustainability is one of the most important things which helps to increase the efficiency of a student and helps to increase the effectiveness of the whole education system. Various researchers from various countries and at various times have analyzed why it is very important to have sustainability in the education of accounting curriculum (Abhayawansa et al 2019). Researchers also reveal the benefits and the necessity of such things in the accounting curriculum in school and colleges. The necessity of introducing and enhancing sustainability in the accounting curriculum is very important all over the world. This section of the paper will analyze the point of view of researchers and will also discuss the shortcoming of their research and where the focus needs to be given.

Detail Analysis

According to Umesh Sharma, et al. 2021, “Enhancing sustainability education in the accounting curriculum is one of the most effective learning strategy which is very beneficial for increasing the effectiveness of whole education process,” The research paper of the researchers examine the “sustainability courses in the accounting curriculum by using the Delta Business School in New Zealand” for understanding the whole thing in an effective way. Researchers use the strategy of Semi structured interviews for gathering information from the students and course controllers (Al et al 2019). Researchers chose students and lecturers who were mostly involved with the sustainability courses in the school. The whole interview process consisted of various questions regarding this topic and there were ten lecturers who participated in the interview.

The research paper by researchers reveals that Courses, which usually provide a lot of time in the teaching of sustainability teaching, encourage the critical thinking process and skills of students while on the other hand the short time in such teaching procedure is not that much effective and they have been facing various difficulties for this (Almagtome et al 2020). The whole research also revealed that there is a lack of sustainable education in the accounting paper in the DBS. The changes in mentality are one of the key things for the sustainable development in the whole education system. It has been found in this research that there are many lecturers who still think that the development of knowledge is the most important thing and they prioritize the existing process of the education system (Cai 2021). There are many guardians and students who also think that the existing process of the education curriculum regarding the accountancy subject is most suitable and preferable. In this context it is very important to say that with the increase in time the development has been happening in the whole system of education and sustainable development is one of the key things for developing the whole thing in an appropriate way. 

It has been found that other Universities in New Zealand have made a huge progress in sustainable education in their accounting paper. The paper also reveals that more than 50% universities in New Zealand do not offer separate sustainability accounting papers in their undergraduate and postgraduate level. Therefore it can be said that the focus needs to be given in this sector effectively for increasing the effectiveness (Giorgino et al 2020). In the context of DBS it is very important to say that the research reveals that the school offers 10 courses of sustainability in their accounting curriculum. Among those 10 courses, they offered 8 for the undergraduate degree and two for the Master’s Degree. The practice of sustainability has been helping a lot in the appropriate skill development of students and it has also been helping them to learn how to cope with the real situation. Day by day the demands of sustainability in the accounting curriculum have been increasing (Haghighi et al 2019). Therefore it is very important for the DBS School to focus on the shortcoming of their process and take steps accordingly. The whole research to be very effective and beneficial for understanding the whole thing related to the necessity of sustainability on the accounting curriculum in New Zealand.

According to Deborah Laura Rasnick, “The sustainability practice in the management accounting curriculum can be very effective for encouraging future and accountants and leaders to use such information in organizational decision making.”  Appropriate decision making capability is one of the key things for any person. The appropriate decision making skill helps to increase the effectiveness of an organization. With the increase in the effectiveness, the productivity of an organization increases productivity and the profitability that are interconnected. Therefore it can be said that with the increase in productivity, the profitability of an organization increases. So it reveals that sustainability is one of the key things for creating organizational decision making skills among students. Building these skills among students at an early stage can be very effective for their future growth (Hilorme et al 2019). Education entails developing students to be productive citizens who accept responsibility for society as a whole, instead of just being consumers and learners. Students are prepared with the skills and mental capabilities to recognize the need for long-term sustainability. In the future, a sustainable world can easily standardize the economy as a knowledge driven economy, not as a commodity driven. The main functionality of the economy is to support people in communities to help in improving their lifestyle rather than doing business without any improvement goals. At present the economy is mainly based on different aspects other than resource extraction (Jackson et al 2021). Many steps have been taken towards the model of Sustainable life. This will help to build a robust ecosystem as well as the economy which will not be based on resource extraction. Sustainability standards and benchmarks are at present used as a mainstream or original so that the businesses can be valued with the help of the market and Society based on different factors. This will actually help to gain the real change in the sustainable standards which not only help to make a strong economy but also act as a robust ecosystem for the businesses. Then after that the next section is related to the shifting function in the Management Accounting. This Management Accounting function helps to keep up different business organizations and societies to acquire the desirable sustainable future. This all also can be considered as one of the pivotal functions for the business organizations (Kosova et al 2021). So this section helps in understanding the different aspects of sustainability standards as well as the management accounting function which is very beneficial from a business point of view.

According to Huthaifa Al-Hazaima, 2020, “integrating sustainability Education into the accounting curriculum is one of the most important things for the proper and effective development of students and the whole system.”  The research paper of the researcher also discussed the “perception of salient stakeholders on the integration of sustainability education into the accounting curriculum.” The researcher used the “Salient Stakeholder Theory” for gathering information and for the whole research. The "salient stakeholder theory" describes and explores managers' importance in addressing competitive stakeholders' claims in their decision-making approach (Sathe et al 2021). Stakeholder theory aims to identify the stakeholders of an organization, as well as respective needs and expectations as a group which determines with the help of the organization. This theory provides the importance or helps in identifying the importance of the stakeholders. This also suggests the managers to take care of the individual stakeholder’s needs as well as the expectation of every stakeholder on a regular basis (Toosi et al 2021). They also have to give special attention to some of the stakeholders to acquire a few special goals. Then after that the next section which is related to this literature is to get information on the "importance of the sustainability accounting education". Educational Institutes are considered as the primary source for the education for sustainable development. The addition of ESD in the curriculum of accounting and business academics is very important for all round development in the field of sustainability accounting education. Accountants are also considered as one of the main influencers on the sustainability prospect (Wang et al 2020). In the present situation the stakeholder has the high demand of sustainability reporting. However, on the other hand the absence of sustainability accounting in the business curriculum restricts the adoption of comprehensive sustainable accounting (Volodymyr et al 2020). So the stakeholders place one of the pivotal roles in accepting sustainable education in the business and accounting curriculum. One of the major roles in integrating the sustainable education in the business and accounting curriculum is to get the best accountability as well as the transparency in the overall system. So this also falls under the major and necessary criteria to enhance the ability of future managers in view of business education. There are a number of sections that can be included in sustainability accounting education. But the integration of the selective sections will not work. Overall aspect of the sustainability education in the business and accounting curriculum is important. Due to this integration of each and every section of sustainable education is necessary (Woodside et al 2020). So this section helps to understand the various factors which help to implement the sustainability education in the business curriculum.

Summary

In this summary section the entire overview of the literature review is done in a brief manner. Sustainability plays a very beautiful role in the field of education. The sustainability also helps in creating decision making skills in students which not only help them in education but also helps in diversifying their careers prospects. The creation of sustainable education boosts the business standard and economy much better than the current scenario. This also helps to build the robust ecosystem and environment which will be based on the knowledge driven economy not the commodity driven. There are various theories related to sustainability education. One of these theories is a "silent stakeholders theory" which mainly focuses on the decision making approach related to the managers. This also provides the idea which is linked to the importance of the stakeholders in accepting the sustainability education in the business and economy. The managers on the other hand have to understand the importance of sustainability accounting education and also have to give special attention to specific stakeholders. This will further enhance the business prospects of the organization. So the sustainability education in the business curriculum plays a very important role to boost the overall business standards.

Conclusion

The whole paper is very effective and beneficial for understanding the necessity of including sustainability in the accounting curriculum. This paper discusses the research paper of various researchers from many countries to understand the necessity of such things all over the world. It has been found in this research that sustainability in the accounting curriculum is one of the most important things for increasing the effectiveness of the whole education system all over the world. This paper also reveals the reason behind the increase in the demands of such developments all across the world. There is no doubt that sustainable development is one of the key things for increasing the skill of a student and preparing them well for coping with the future situation but there are various things which are very important for effective sustainable development. Therefore it can be said that there are some shortcoming in this process and the paper discusses those shortcoming of the process in an effective way. That is why it can be said that this paper is quite effective for understanding the whole thing and getting an idea of the necessity of sustainability in the Accounting Curriculum.

Reference List

Journals

Abhayawansa, S., Guthrie, J., & Bernardi, C. (2019). Intellectual capital accounting in the age of integrated reporting: a commentary. Journal of Intellectual Capital.

Al-HASHIMY, M. N. H., & Al-hashimy, H. N. H. (2019). Strategic Accounting in the Profitability of Construction Engineering Projects Management Companies in Iraq. Journal of Engineering and Applied Sciences14(3), 941-944.

Almagtome, A. H., Al-Yasiri, A. J., Ali, R. S., Kadhim, H. L., & Bekheet, H. N. (2020). Circular economy initiatives through energy accounting and sustainable energy performance under integrated reporting framework. International Journal of Mathematical, Engineering and Management Sciences5(6), 1032-1045.

Cai, C. W. (2021). Triple?entry accounting with blockchain: How far have we come?. Accounting & Finance61(1), 71-93.

Giorgino, M. C., Barnabè, F., & Kunc, M. (2020). Integrating qualitative system dynamics with accounting practices: The case of integrated reporting and resource mapping. Systems Research and Behavioral Science37(1), 97-118.

Haghighi, R., Bagherpour Velashani, M. A., & Saei, M. J. (2019). Establishment of Integrated Accounting Information Systems in an Emerging Market-Problems and Barriers. International Journal of Business and Development Studies11(1), 83-97.

Hilorme, T., Tkach, K., Dorenskyi, O., Katerna, O., & Durmanov, A. (2019). Decision making model of introducing energy-saving technologies based on the analytic hierarchy process. Journal of Management Information and Decision Sciences22(4), 489-494.

Jackson, D., & Meek, S. (2021). Embedding work-integrated learning into accounting education: the state of play and pathways to future implementation. Accounting Education30(1), 63-85.

Kosova, T., Malovychko, A., & Poddubn?ak, D. (2021). THEORETICAL AND APPLIED ASPECTS OF SUSTAINABILITY ACCOUNTING, NON-FINANCIAL (INTEGRATED) REPORTING OF BUSINESS ENTITIES AND ITS AUDIT. ECONOMICS, MANAGEMENT AND ADMINISTRATION IN THE COORDINATES OF SUSTAINABLE DEVELOPMENT, 616.

Sathe, R., & Yu, W. (2021). Experiential Learning in the Classroom: An Accounting Cycle Simulation Project. Journal of Higher Education Theory & Practice21(7).

Toosi, H., & Chamikarpour, A. (2021). A New Cost Management System for Construction Projects to increase Competitiveness and Traceability in a Project Environment: Un nuevo sistema de gestión de costes de proyectos de construcción para aumentar la competitividad y la trazabilidad para entornos de proyectos. Revista de Contabilidad-Spanish Accounting Review24(1), 31-47.

Volodymyr, C. G., Ihor, S. I., Tetiana, P., Borkovska, V., & Demyan, S. V. (2020). Application of Agile Methods in Project Management: Aspects of Planning and Accounting. International Journal of Management11(6).

Wang, Y., Song, S., Gao, M., Wang, J., Zhu, J., & Tan, Z. (2020). Accounting for the Life Cycle Cost of Power Grid Projects by Employing a System Dynamics Technique: A Power Reform Perspective. Sustainability12(8), 3297.

West, T. A., Börner, J., Sills, E. O., & Kontoleon, A. (2020). Overstated carbon emission reductions from voluntary REDD+ projects in the Brazilian Amazon. Proceedings of the National Academy of Sciences117(39), 24188-24194.

Woodside, J. M., Augustine, F. K., Chambers, V., & Mendoza, M. (2020). Integrative learning and interdisciplinary information systems curriculum development in accounting analytics. Journal of Information Systems Education31(2), 147.

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