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_aCayanan, Toribio R.
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_aInternational accounting education standards :
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_bstrategic measures for higher education institutions (HEIs) and their implications to business sectors /
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_cToribio R. Cayanan.
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_a251 pages
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_aThesis (Ph.D.) -- Pamantasan ng Lungsod ng Maynila, 2011.;A dissertation presented to the faculty of the Graduate School of Management in partial fulfillment of the requirements for the degree of Doctor of Business Administration.
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_aABSTRACT: This study intended to provide an analysis and evaluation of the status of compliance to the international accounting education standards among the selected higher education institutions in the Philippines and their implications to business sectors. Specifically, the study sought to answer the following questions: 1. What is the performance profile of the selected Higher Education Institutions in the CPA Licensure Examinations before and after the implementation of the International Accounting Education Standards in terms of the following: 1.1. National Passing Percentage; 1.2. National Capital Region Passing Percentage; and 1.3. Individual Passing Percentage of the subject Higher Education Institutions in the National Capital Region (NCR)? 2. To what extent do the selected Higher Education Institutions comply with the following International Accounting Education Standards as prescribed by the International Federation of Accountants? 2.1. Entry Requirements to a Program of Professional Accounting Education; 2.2. Content of Professional Accounting Education Program; 2.3. Professional Skills; 2.4. Professional Value Ethics and Attitude; 2.5. Practical Experience Requirements; and 2.6. Assessment of Professional Capabilities and Competence 3. Are there significant differences between the performance profile of the selected Higher Education Institutions before and after the implementation of the International Accounting Education Standards on January 1, 2005, as mentioned in SOP 1.1 to 1.3? 4. Is there a significant correlation between the compliance with International Accounting Education Standards (IAES) and the performance profile of the selected Higher Education Institutions (HIE) as mentioned in the statement of problem in 1.1 to 1.3. 5. What are the constraints encountered by the selected Higher Education Institutions in the implementation of the International Accounting Education Standards? 6. Based on the findings of the study, what strategic measures can be adopted by the Philippine Higher Education Institutions to effectively implement the International Accounting Education Standards in order to achieve educational excellence and global competitiveness? 7. What implications to business sectors can be drawn from the results of the study? The study was conducted in the National Capital Region where the selected higher education institutions offering Bachelor of Science in Accountancy program are located. The research focused on the ten (10) higher education institutions namely: Adamson University (AdU); Polytechnic University of the Philippines (PUP); Far Eastern University (FEU); Pamantasan ng Lungsod ng Maynila (PLM); Philippine Christian University (PCU); Philippine Women's University (PWU); San Beda College (SBC); University of the East (UE); University of Perpetual Help System Dalta (UPHSD); and University of Santo Tomas (UST). The study used the descriptive method of research. The source of primary data was through a questionnaire (Appendix B) retrieved from 90 out of the 185 targeted respondents consisting of deans, chairpersons, and faculty members involved in the accounting education of the ten (10) higher education institutions. The purposive sampling in stratified form, also called deliberate sampling, was adopted where samples were selected based on the decision or judgment of the researcher on who best qualify to answer the objectives of the study. The survey questionnaire used was adapted from the standards of international accounting education issued by the International Federation of Accountants. Since the questionnaire emanated from the authoritative and recognized standards in accounting education, the items were made with minimal changes to conform with the Likert format. The researcher also prepared survey statements of problems dealing with the constraints and concerns which were used to solicit additional information from the respondents not otherwise captured by the primary survey questionnaires in order to address the need on how to best cope with the standards given some of the obstacles/impediments. The passing percentages in the CPA Licensure Examinations at the National, NCR, and institutional levels before and after implementation of the International Accounting Education Standards (IAES) were presented using mean and standard deviation. The average yearly change in the passing percentage across years was computed using a simple linear regression model. The significant difference between the Passing Percentages of the HEIs before and after implementation of the IAES was analyzed using t-test. The same data were analyzed using the bootsrap version of t-test in order to validate the results of the traditional t-test. The relationship between the level of compliance of the institutions on the IAES and the passing percentage in the CPA Licensure Examination was analyzed using Pearson correlation, or simple Pearson r. On the secondary data, the researcher used the reports from the Professional Regulation Commision / Board of Accountancy (PRC/BOA); Commision on Higher Education (CHED); International Federation of Accountants (IFA), Philippine Institute of Certified Public Accountants (PICPA); and Securities and Exchange Commission (SEC). Other sources include from the libraries of SGV & Co., PLM, DLSU-Manila,PUP-Sta, Mesa; CPA Review School of the Philippines, and the Philippine National Library. Conclusions were made based on the statistical treatment and analysis of information gathered. Conclusions From the findings of the study, it is evident that, although, there is an improvement in the passing rates in the CPA Licensure Exams after the implementation of the international accounting education standards, but there is still a need to further improve the performance in the CPA Licensure Examinations among higher education institutions since the passing rates at the National and NCR, and Institutional levels lag behind as compared to the passing rates of other professional board exams. For the thirteen-year period from 1992 to 2005, the CPA examinations passing rate ranked 40th and second to the lowest of the 41 licensure examinations. The overall institutional level average passing rates in the CPA Licensure exams of 21.32% and 34.09% before and after the implementation of the international accounting education standards, respectively, as compared to the average passing rates of 19.04% and 32.93% for the national level and 22.08% and 35.50% for the NCR gives credence to the earlier conclusion of the need to further enhance the performance of the CPA Licensure Exams among higher education institutions. The mean passing rate in the CPA Exams before and after the implementation of the international accounting education standards of San Beda College (SBC) and Pamantasan ng Lungsod ng Maynila (PLM) did not show significant difference due to their already high passing rate which ranked second and third among the ten higher education institutions. Before the implementation of the international accounting education standards, PLM and SBC had mean passing rates of 31.79% and 41.67% as compared to the mean passing rate of 39.15% and 53.05%, respectively, after the implementation of the international accounting education standards. On the other hand, Philippine Women's University (PWU) and University of Perpetual Help System Dalta (UPHSD) have mean passing rates of 4.56% and 6.42% before the implementation of the international accounting education standards as compared to the 10.12% and 14.05%, respectively after the implementation of the international accounting education standards. The significant positive correlation between the performance in the CPA Licensure Examinations and professional values, ethics and attitudes and personal skills suggests that improving the professional values, ethics and attitudes and personal skills would lead to the improvement of the performance in the CPA Licensure Examinations. The higher education institutions are vulnerable to the effects of the identified constrains and concerns since they believed that the constraints and concerns have serious effects in the implementation of the international accounting education standards.
520 _aThus, immediate actions to address such concerns and constraints should be given due considerations. The results of the findings and observations of this study have corresponding implications to business sectors as presented in number 7 of the summary of findings. The questionnaires which considered standards of international accounting education distributed to respondents with positive responses, and those with unfavorable responses for which corresponding recommendations were suggested constitute collectively the strategic measures with the following recommendations as follows: Recommendations Based on the findings of the study, the following recommendations are hereby forwarded: 1. Higher Education Institutions should look for a remedy to improve their performance in the CPA Licensure Examination. Possible immediate solutions are as follows: (a) conduct a series of in-house seminar-workshops for accounting professors regarding the International Accounting Education Standards; and (b) conduct intensive in-house CPA review classes among graduates and then require all graduates to take CPA review classes outside the institutions before they are allowed to take the CPA Licensure Examinations. 2. There is a need to review the Bachelor of Science in Accountancy (BSA) Program of PCU, PWU, and UPHDS to enhance their performance in the CPA Exams. Commission on Higher Education (CHED) policies circularized under CHED Memorandum Order No.3, Series of 2007- Revised Policies and Standards for Bachelor of Science in Accountancy (BSA) Program should be revisited. 3. Although SBC and PLM ranked second and third among the ten (10) higher education institution
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