Research Title: A Tracer Study on BS Accountancy Graduates of CHMSC FT

Author / Presenter: Jose B. Mendoza, CPA, MBACo-Author : Ruvy M. Tuble, MLIS

Abstract

The study assessed the employability, training, and acquired knowledge and competency skills of eighty-eight BS Accountancy graduates of CHMSC – FT Campus (Academic Years 2008 – 2012) employed in various industries and sectors of the Accountancy profession throughout the country. The findings revealed that ninety-six percent (96%) of the graduates are gainfully employed, forty six percent (46%) of which got their first job seven months after graduation considering the 6-month review classes taken in preparation for the board examination every month of October. It can be noted that 100% of the graduates were employed one year after graduation, forty-one (41%) of which were walk-in applicants, while twenty-three (23%) were recruited through information received from friends. Sixty three percent (63%) are regular employees or with permanent status, while the other respondents are either temporary or casual (23%) or contractual employees (14%). Skills acquired in college most relevant to the present job include Basic Accounting Skills, Financial Reporting Skills and Human Relations Skills. The respondents expressed high satisfaction on the training they received from their Alma Mater in the overall performance of their career. The retention policy boosts their study habits and taught them to manage their time efficiently and effectively. The respondents strongly agree that competent faculty members are to be employed and should be continuously trained. One of the findings shows that a review and upgrade of the design and curriculum of the BS Accountancy program should be made to enhance support services related to the program and help accomplish the objectives of the academe. Further, if made, the review and upgrading of the design and curriculum will give direction to what can be done especially in policy formulation, faculty development trainings, and other important competency skills trainings and development to help prepare the accountancy students meet the demand of the job markets.

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Introduction

The objective of the Accountancy program is to produce highly qualified and competent graduates that are highly employable after graduation. The performance of the graduates in the CPA Licensure Examinations serves as gauge to the effectiveness of the program in providing the quality instruction. The accountancy profession is distinguished by certain characteristics, including mastery of particular intellectual skill, acquired by training and education, adherence of its members into a common code of values and conduct established by its administrating body, including maintaining an outlook which is essentially objective.

A distinguishing mark of the accountancy profession is its acceptance of the responsibility for public interest. Thus, a professional accountant’s responsibility is not exclusively to satisfy the needs of an individual client or employer. It is in this context that the academe should be able to develop character and nurture young minds to become responsible individuals and competent professionals. Graduates in accountancy program are expected to have acquired proficiency and competency skills during their on-job-training and in-house review classes to be better prepared for the licensure examination and the profession. These skills include analytical skills, financial reporting, mastery of different areas of the profession, good communication skills, skills in the use of information technology, problem-solving skills, critical thinking skills, human relations skills and research skills.

There is therefore a need to make a follow-up study of the accountancy graduates not only to locate them but more importantly to find out how adequate is the training provided by Carlos Hilado Memorial State College – FT Campus in the overall performance of their career life, the extent by which the teaching and competency skills were developed, the employment status of the graduates as well as their achievements in the field.

Statement of the Problem

The study aims to assess the training, employability and accomplishments of BS Accountancy graduates of Carlos Hilado Memorial State College - Fortune Towne Campus employed throughout the country. More specifically it seeks to answer the following questions:

1. What is the profile of the respondents in terms of: 1 .1 employment status 1. 2 length of time to be employed after graduation 1. 3 methods of recruitment in first job 1. 4 nature of work

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1. 5 current position title held 1. 6 current position/work status 1. 7 skills acquired in college most applicable to present job 1. 8 graduate studies pursued

2. To what extent did CHMSC–FT develop in the respondents the proficiency in accounting and the following competency skills: 2.1 Knowledge and Skills in Accounting 2.2 Analytical Skills 2.3 Financial Reporting Skills 2.4 Communication Skills 2.5 Information Technology Skills 2.6 Problem-solving Skills 2.7 Critical Thinking Skills 2.8 Human Relations Skills 2.9 Decision-making Skills 2.10 Research Skills

3. How do the respondents rate the training they received from Carlos Hilado Memorial State College – FT Campus in the overall performance of their career life?

4. What programs may be proposed to help our accountancy graduates meet the demands of the profession?

Significance of the Study

Hopefully the results of the study will be used to document outcomes related to Carlos Hilado Memorial State College – FT Campus in becoming a Center of Excellence and Development in accountancy education, and for the administration to address the needs of the graduates to be able to meet the demands of the profession, to continually improve program quality, and to serve as baseline data for planning activities.

For the faculty of instruction, it will help identify areas that needs to be improved or strengthened in order to keep abreast with the changes in demand of the profession in the market. It will provide information where continuing professional development is essential. The study will also identify what are the required materials, processes or enhancement in the teaching methods or even the support facilities that would be used to make instruction effective.

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Methodology

The study used the descriptive research design. A survey method was used to access the scattered BSA graduate population. It was conducted between October-December 2013. The respondents of this study comprised all the eighty-eight (88) Bachelor of Science in Accountancy graduates of the year 2008-2012 of CHMSC-FT Campus.

The identification of the graduate was primarily based on a list of graduates provided by the Registrar’s Office on all graduates of that period. Through this list names, addresses, emails and telephone numbers of most of the graduates were available from the date of enrolment. The proponents then created a group “BSA Alumni 2008-2012” in one of the social networking sites and add all graduates as members. Questionnaire was sent electronically to respondents through this medium. Seventy-eight (78%) of the respondents responded by answering the instrument completely.

The instruments used were based on the master survey instrument of the Commission on Higher Education (CHED) along this area. Frequency counts, percentage distribution, and mean score were used in the analysis of data gathered.

Results and Discussion

Profile of the Respondents

The overall picture of Bachelor of Science in Accountancy 2008-2012 graduates’ labor placement is inspiring since everybody was able to find employment as reflected in Table 1. The data reveal that almost ninety-six (95.52) percent of the respondents were “employed” while four (4.48%) percent were “unemployed during the survey” and none were “never employed”. For those who are not employed during the survey; family concern, health related reasons, and dissatisfaction forced them to quit in their job.

This implies that the College flagship program yields higher demands in labor market thus offered massive opportunity for the graduates to be employed. It further indicates that even though they are fresh graduates they were able to “hit the ground running” and employers trust their strong skills and competencies for the job. Therefore, it is inspiring to note that BSA program is successful in its task to prepare and produce competent graduates capable of making a positive contribution over their profession and society in which they work.

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Table 1Employment Status

f % Employed 65 95.52 Unemployed Now 4 4.48 Never Employed 0 0 Total 69 100

It was encouraging to note that most (89.86%) of the graduates had been employed in less than a year period from graduation as evidently shown in Table 2 despite of the fact that many of them attended review class as preparation for the CPA licensure examinations. This means that the employability of our BSA graduates is high.

In addition, those who were not able to attend review class because of financial setback are very eager to get a job after graduation so that they can help their family or support the schooling of another member in the family. It can be noted that a number of these graduates were able to finish their degree through hard work as an academic scholar, working scholar of the college or by some families.

Table 2Length of time to get a job after graduation

f % Less than a month 13 18.84 1-6 months 20 28.99 7-11 months 32 46.38

1 year to less than 2 years 4 5.8

Total 69 100

As to the methods of recruitment, majority of the graduates (40.58%) secured their first job as walk-in applicants. Others find job through information from friends (23.19%), upon responding to media and newspaper advertisement (15.94%), and by someone’s recommendation (13.04%).

However, very few graduates obtained their first job by vacancy notice and job fair (5.80%, 1.45%, correspondingly). This implies that most of the fresh graduates found job through their own resolve and effort which often found it difficult to penetrate the government and public service. The College has a big role in helping graduates locating new and better jobs aligned to their competency skills.

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Table 3Methods of Recruitment on First Job

f  % As Walk-in applicant 28 40.58 Information from friends 16 23.19 Job fair 1 1.45 Recommended by someone 9 13.04 Response to media & newspaper advertisement

11 15.94

Vacancy notice 4 5.8 Total 69 100

After completion of the program and passing the CPA licensure examination, graduates can pursue a career in accountancy and related professions. As shown in Table 4, the nature of work of graduates varies widely among the four major fields of accountancy: public practice, commerce and industry, government and education. Other graduates occupation was categorized in related professions.

Specifically, data shows that majority of the graduates’ first (50.73%) and current (43.08%) job is in the commerce and industry field. Also, three in every 10 (31.88 percent and 36.92 percent respectively) graduates’ first or current job engages in public practice while 14.49% of them (first) and 6.15% (current) have type of work related to their profession/field.

Table 4Nature of work

First Job after College

Current Job

 f  % f % Public Practice 22 31.88 24 36.92 Commerce and Industry 35 50.73 28 43.08 Government 0 0 4 6.15 Education 2 2.9 5 7.69 Other Related Professions 10 14.49 4 6.15 Total 69 100 65 100

As to the graduates’ current position held, data on Table 5 show that biggest proportion (84.62%) of graduates appears to be in entry-level positions while fifteen percent are having jobs that belong to middle-level category (7.69%) and other related professions job position (7.69%) respectively. This implies that graduates

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was able to obtain work right after graduation and subsequently after taking their board examinations and their current position in various labor markets were related to their course in college. They are capable of working effectively as entry level professional accountants.

Also, it is worthy of note that in a short span of time, there are graduates who are holding a middle level positions. It is an indication that graduates of BSA are competitive and their acquired knowledge and skills in accounting and related fields facilitated their growth to positions of increased responsibility.

Table 5Current Position Titles Held

 f % Entry-level jobs 55 84.62 Middle-level positions 5 7.69 Advanced positions 0 0 Other Related Professions Job Position 5 7.69 Total 65 100

Furthermore, as reflected in Table 6, almost two-thirds of the graduates were holding regular/permanent status (63.08 percent) while one-third (23.08 percent and 13.85 percent respectively) were temporary/casual and contractual/job orders. This implies that a BSA graduate or a licensed accountant has better opportunities to be regularized because of the proficiency and competence required by the job possessed by the respondents.

Table 6Current position/work status

 f  % Regular/Permanent 41 63.08 Temporary/Casual 15 23.08 Contractual/Job Order 9 13.85 Total 65 100

When graduates were asked to identified their skills acquired in College most applicable to their present job, in descending order of popularity, data in Table 7 indicate that the top five acquired proficiency relevant to their job were the following:

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basic accounting (89.23%), financial reporting (87.69%), human relation (83.08%), analytical (78.46%), and critical thinking (72.31%) skills. While decision-making and research skills (33.85 percent and 32.31 percent respectively) have least significant to their current work.

Since, most of the graduates are employed, proficiency in core knowledge related to accounting both in private and government setting and proficiency in the international accounting/financial reporting and auditing standards, cost management and latest concept in management accounting, recent tax, business and commercial laws were applied.

Their human relation skill makes them capable to work in groups as well as being a team player. They were able to contribute to group effort and established a good working relationship among colleagues and superiors. They could work well with men and women from diverse backgrounds and could respond well to peer pressure.

Likewise, their acquired analytical and critical thinking skills heightened their ability to review, interpret, evaluate financial data and systems, operational data, controls in order to form conclusions and make recommendations on validity/usefulness which is compliance within established policies, procedures, guidelines, agreements and/or legislation.

Table 7Skills Acquired in College Most Relevant to Present Job

f % Basic Accounting Skills 58 89.23 Financial Reporting Skills 57 87.69 Human Relations Skills 54 83.08 Analytical Skills 51 78.46 Critical Thinking Skills 47 72.31 Problem Solving Skills 45 69.23 Communication Skills 41 63.08 Information Technology Skills 35 53.85 Decision-making Skills 22 33.85 Research Skills 21 32.31

Decision-making and research skills were nevertheless least needed because of the fact that majority of the graduates were on the entry-level job and they less likely make crucial decision making tasks and informed judgment for the company or institution they are connected.

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The graduate studies pursued by the respondents are presented in Table 8. Data discloses that only eight (11.69%) of the total graduates have gained units in Master’s Degree. Since majority of the graduates 61 (88.41%) have not started their graduate studies they should be contacted and encouraged to start their graduate studies in our school.

Education is an on-going process. A further study is a gateway for raising the rank or promotions in the service. Also, pursuing further studies could help improve or enhance the decision making and research skills of the respondents. After some time in the graduate study program and as the graduates occupy next level positions in their work areas, they have already acquired additional skills in research and decision making.

Table 8Graduate Studies Pursued

f % Finished a Master's Degree 0 0 Have Units in Master's Degree 8 11.59 Not Enrolled in any Graduate Program 61 88.41

69 100

Graduates’ Knowledge and Competency Skills

The respondents were made to rate the extent by which their knowledge and competency skills in accounting, financial reporting, analysis, communication, information technology, problem – solving, critical thinking, human relations, decision-making, and research skills were developed during their schooling under the BSA Program. Data on Table 9 show that respondents rated the development of knowledge and competency skills from highly to very highly develop. The grand mean of 4.14 indicates that they rated their overall knowledge and competency skills as highly developed.

Specifically, of all the competency skills cited, critical thinking were rated very highly developed as indicated by the highest weighted mean of 4.46 followed by knowledge and skills in accounting and human relation skills (mean score of 4.43 and 4.28 respectively) interpreted as such. In contrast, information technology skills got the lowest mean scores of 3.60 interpreted as highly developed.

The competency in critical thinking skills can be attributed to the teaching strategies by the instructors in which they integrate in their lessons the application

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of accounting principles to common business scenarios which encourages the students to link data, knowledge, and insight together from different sources and disciplines to make informed decisions and develop general ability to achieve across tasks and topics which will be helpful in preparation for their board examinations. Apparently, their knowledge and skills in accounting was very highly developed since they were trained thoroughly subject to constant practice of accounting skills to prepare them for a successful long-term professional accounting career and for the CPA Licensure Examination.

Table 9Extent of Developing Graduates' Knowledge and Competency Skills

Sd Mean InterpretationKnowledge and Skills in Accounting 0.581 4.43 Very Highly DevelopedAnalytical Skills 0.721 4.26 Very Highly DevelopedFinancial Reporting Skills 0.579 4.25 Very Highly DevelopedCommunication Skills 0.689 3.89 Highly DevelopedInformation Technology Skills 0.911 3.60 Highly DevelopedProblem-solving Skills 0.807 4.23 Very Highly DevelopedCritical Thinking Skills 0.632 4.46 Very Highly DevelopedHuman Relations Skills 0.591 4.28 Very Highly DevelopedDecision-Making Skills 0.630 3.18 Moderately DevelopedResearch Skills  .825 3.37 Moderately DevelopedGrand Mean 4.14 Highly Developed

Legend: 4.21-5.00 = Very Highly Developed, 3.41-4.20 = Highly Developed, 2.61-3.40 = Moderately Developed, 1.81-2.60 = fairly Developed, 1.00-1.80 = Poorly Developed

Moreover, BSA graduates are expected to be conversant not only with IT concepts for business system but acquired adequate knowledge on information production, system development, management and control. The mean score of information technology skills is 3.60 which mean that there is still room for improvement. Although graduates’ information technology acquired skills may have helped them with their job but not as much as compared to other skills. There is a need therefore to strengthen the information technology skills of the BSA students since nowadays firms and offices uses systems that brings about bookkeeping, accounting, financial reporting, tax reporting, and auditing.

Data also indicates that the respondents’ decision making skills and research skills are moderately developed with a mean score of 3.18 and 3.37 interpreted as such. This means that they were less exposed to opportunities in developing such skills during their tertiary education. This could have been enhanced through

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research subjects and practical courses like accounting system design and development.

In general, result implies that BSA graduates possessed the core competencies for professional accountants necessary to perform effectively in today’s changing environment thus continuous improvement and emphasis must be given to competency skills that were rated low.

Graduates’ Satisfaction as to the Training Received

The graduates were made to rate the training they received from BSA Program of CHMSC-FT in application to overall performance of their career life. Table 10 reflects the distribution of the respondents’ satisfaction of the training and experiences they received as indicated by their agreement on the statement cited. The data show that most students rated their training from “very satisfactory” to “outstanding” range which indicates that they were contented and happy with the foundation and preparation they have during their Bachelor’s Degree which was applied throughout their professional lives.

Furthermore, among the situation cited, a little more than half (56.52 percent) of the respondents “agree” that their subjects taken from BSA program is relevant and applicable to their current job and the retention policy boosts their academic performance and time management. Thus, nearly half (47.83 percent) of the graduates “moderately agree” that they actively neither participated in various non-academic activities and competitions both inside and outside the campus nor become involved in student organization (31.88 percent) nor in seminars, conferences, and other fora that could contribute to their additional knowledge in the profession (34.78 percent).

This implies that the students under this program focused more on their academics rather than in other activities that may also contribute to their learnings like quiz bowls and seminars. Therefore, students should participate actively in various academic and non-academic activities for holistic development and enhancement of competencies and skills.

Table 10Distribution of Respondents as to the Trainings they Received

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Strongly Agre

e

Moderately Disagre

e

Strongly

Total Mean

Verbal Interpretation

Agree Agree Disagree

5 4 3 2 1

% % % % % %

The school Retention Policy boosts my study habit and time management

36.2356.5

25.8 1.45 0 100 4.21 Outstanding

Most faculty members uses textbooks, modules, and other instructional aids and resources

23.1963.7

713.04 0 0 100 4.12

Very Satisfactory

I become involved in various academic competitions and activities both inside and outside school

30.4343.4

824.64 0 1.45 100 4.03

Very Satisfactory

Most faculty members, staff, and students at CHMSC are friendly and helpful

20.2957.9

721.27 0 0 100 4.00

Very Satisfactory

I become involved in students organizations

31.8820.2

931.88 14.49 1.45 100 3.67

Very Satisfactory

I started practicing and mastering all concepts and processes since my first year

27.5439.1

327.54 5.8 0 100 3.90

Very Satisfactory

15.9444.9

334.78 4.35 0 100 3.75

Very Satisfactory

I actively participated in seminars, conferences and other fora that contribute to additional knowledge in the profession

13.0436.2

347.83 2.9 0 100 3.61

Very Satisfactory

I actively participated in various non-academic activities and competitions both inside and outside school

I have participated in study groups

21.7460.8

715.94 1.45 0 100 4.04

Very Satisfactory

Most of my subjects at CHMSC seem relevant and applicable to my present career life

33.3356.5

210.14 0 0 100 4.25 Outstanding

21.7457.9

718.84 1.45 0 100  4.01

 Very SatisfactoryI have participated in classroom

discussion

Legend: 1.00-1.80 = Least Satisfied, 1.81-2.60 = Less Satisfied, 2.61-3.40 = Satisfied, 3.41-4.20 = Very Satisfied, 4.21-5.00 = Outstanding

Graduates’ Recommendations/Suggestions on the Improvement of Program

In Table 11, the data show the distribution and ranking of respondents regarding their recommendations/suggestions on the improvement of program to meet the demands of profession as indicated by their agreement ordered responses. Seven in every 10 (75.60 percent) strongly agree that the college

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should employ only competent faculty members and continuously train them to update and improve their teaching competencies. This implies that teachers being found to be the single most important factor influencing student achievement must possess the educational qualifications, professional experience, classroom teaching ability essential for the successful conduct of a professional accounting program.

Data also show that five in every 10 of the respondents suggested reviewing and updating the curriculum and syllabi (57.14 percent) and upgrading the college facilities (50.79 percent). These maybe because the graduates wanted to make sure that the present curriculum kept pace with current realities and had anticipated changes that may take place in business and accounting profession. Furthermore, facilities should be upgraded to promote a conducive teaching/learning environment.

Table 11.Distribution of the Respondents' Suggestion in order to Meet the Demands of the Profession

Strongly

Agree

Moderately

Disagree

Strongly

Total

Rank Agree Agree Disagre

e

% % % % %Employ only competent faculty members and continuously train them to update and improve their teaching competencies

74.6 15.87 3.57 1.19 4.77 100 1

Review and update the curriculum and syllabi

57.14 30.16 4.77 3.17 4.76 100 2

Add more major subjects 26.98 25.4 26.98 7.94 12.7 100 5

Upgrade the facilities 50.79 33.33 11.12 0 4.76 100 3

Limit class size to 40 (or less) students

41.27 15.87 23.81 12.7 6.35 100 4

Conclusion

The findings reveal that the respondents were satisfied with the Accountancy Program of Carlos Hilado Memorial State College and affirmed that the training they received were extremely useful in their field of work. That such training had built their confidence and competence which made them employable in the field at the

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same time rise to supervisory positions. However, research and information and technology skills have to be further developed and graduate studies must be pursued by graduates so that they will be updated and continue learning.

Recommendations

1. The administration and faculty of the College of Business Management and Accountancy should take the challenge of maintaining a very high degree of graduate satisfaction while keeping pace with changing professional requirements. It must continue to develop graduates' employability and enhance the attributes that make them employable.

2. The graduating students must be advised to continue their professional development and lifelong learning.

3. Graduate School and Continuing Professional Development should be made accessible and affordable for our graduates. Graduates should be guided to be able to finish their graduate program.

4. Research work should be required in all English and Professional subjects.

5. Seminars on the use of Information and Technology especially on accounting software packages in the classroom should be made available for our graduates during weekends or summer time.

6. Graduates must be reached and regularly informed on annual homecoming to be updated on what's going on in the college. At the same time annual gatherings should be well-planned to encourage the alumni to return.

7. Continue to develop excellent communication skills in our students.

8. A similar follow-up study should be conducted by all colleges to locate its graduates, to find out whether the training they received have helped them in their field of work and to find out what else can be done to prepare our graduates in their respective fields.

9. Job fairs and other employment or career opportunities should be should be introduced at school to help students in their career planning. Further, the college should have a job placement officer that will assist not only BSA graduates but also the entire graduates of the college in searching employment related to their career goals.

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10. Competent faculty members will be hired under the program and trainings and seminars will be given to the faculty members.

11. Continuous upgrading and development of course curriculum and syllabi is recommended.

12. The OJT program and other relevant “hands-on” experiences like accounting software application (examples: SAP, ORACLE) and accounting system design and development should be introduced in the curriculum.

13. Encourage students to participate in activities outside school like quiz bowls, seminars and trainings, conventions and non-academic activities that contributes to holistic academic training for these will improve their inter-personal skills, competitiveness and help them assess their academic training at school.