To what extent does an accounting or business degree equip graduates with the knowledge and skills required by prospective employers in the current climate
Today’s students leaving university with a degree, would like to think that the university has equipped them with the correct knowledge and skills required by the employer, but is this the case? Here we will look at the extent to which this has been achieved, by evaluating the knowledge and skills acquired from gaining an accounting degree, comparing the skills and knowledge required by prospective employers in today’s current business climate, and looking at how the employers recruit on the bases of the degree classification and employability skills. Section 2
According to AccountancyAge (1), business climate has slightly improved since the crash of the economy in 2008-2009, but it is said that there is still a lack of confidence among consumers and corporate businesses. Three years after the start of the recession we are still bumping along the bottom of a global crisis. There is speculation according to the Guardian paper(2011), that it will take another four years before the economy gets back to it pre recession status. So times are harder this now. Fewer jobs are available, cuts in public sector, and cuts in private sectors, salaries frozen and household expenses increasing year by year, and less graduate jobs available with more graduates applying each year for university places. At the beginning of May this year there was a 14% rise in applications to university degree courses making out there was over 640 000 applications. It has been mentioned that in the year 2020, 4 out of 10 people will have a degree, meaning the degree will not represent what it originally stood for which was academic excellence, and allowing individual to stand out from the crowd. So even though the degree is still regarded by employers as a essential tool to evaluate students when assessing their skills, it could become less relevant within the accounting profession as students can already join accounting firms as accounting technical, going on in their career to take professional exams without attending university, and not having to pay fees or get into debt, unless the universities are able to strengthen the meaning of an accounts degree, and gain more respect from employers showing the employers that the skills developed at university are essential to have for the future success of their business. Section 2.1
According to High Fliers (2011), the job climate for graduates is very competitive and over populated with degree graduates, where each graduate job is attracting 68 application, which is continuing to rise again next year, as well as the last years 2009 graduates that were unable gain employment will put them self back into the pool of graduates looking for work. As the pool of graduates are increasing so is the classification of the degree , where by next year a 2.2 will not be of any importance to employers, and the cut of mark for graduate position will reach 2.1 across the country. Most companies or organisation are already looking for a minimum of a 2:1 from a reputable university with a respectable degree discipline, to be considered for a position as a graduate employee within their company. According to Prospects career areas (2010), a HESA survey was completed in 2010 stating that after 6 months of graduating, almost 50 percent were in full time employment, 44% were employed in financial and business professional roles. 15% were employed as cashiers and numerical clerks, and 9% took employment as managers within the commercial and public sector showing that the employers still look for a degree specific to accounting. Section 3
According to Richard M S Wilson (2011), when looking at courses offered by universities, the student may choose to do a course that’s of interest to the student, where the student...