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ACCOUNTING EDUCATION IN VIETNAM THROUGH THE LENSES OF LEGITIMACY THEORY AND STAKEHOLDER THEORY

Huynh, Trung LU and Tran, Thi Phuong Thao LU (2013) BUSN69 20131
Department of Business Administration
Abstract
Seminar date: 30 May 2013

Course: BUSN69 – Degree Project in Accounting and Auditing

Authors: Alex Trung Huỳnh and Thảo Trần

Supervisors: Anne Loft and Maria Bengtsson

Key words: accounting education, university, Vietnam, employability, legitimacy, stakeholders.

Background and problem: Since Đổi Mới, the Economic Reformation, in 1986, Vietnam has seen a huge improvement in terms of economic development with the financial market emerged as a core piece. Demand for qualified accountants has increased with the inception of various accounting firms. The profession, as a result, becomes a magnet for students to pursue. Yet, few students can meet the requirements of employers. What has gone wrong?

Purpose: The paper aims to... (More)
Seminar date: 30 May 2013

Course: BUSN69 – Degree Project in Accounting and Auditing

Authors: Alex Trung Huỳnh and Thảo Trần

Supervisors: Anne Loft and Maria Bengtsson

Key words: accounting education, university, Vietnam, employability, legitimacy, stakeholders.

Background and problem: Since Đổi Mới, the Economic Reformation, in 1986, Vietnam has seen a huge improvement in terms of economic development with the financial market emerged as a core piece. Demand for qualified accountants has increased with the inception of various accounting firms. The profession, as a result, becomes a magnet for students to pursue. Yet, few students can meet the requirements of employers. What has gone wrong?

Purpose: The paper aims to analyze the accounting education in Vietnamese universities by using the theories of legitimacy and stakeholders. In addition, it provides a general picture of accounting education in Vietnam and current actors within the process.

Methodology: The research method has three components that search for both quantitative and qualitative results, using both primary and secondary data. First, an analysis of curriculum framework developed by the Ministry of Education and Training, content of accounting program offered at the Academy of Finance, and subjects of the ACCA qualification is performed to assess the development of current accounting curriculum in Vietnamese universities. Second, a survey targeting accounting graduates is conducted to seek their perspectives on previous undergraduate studies. Finally, an in-depth interview is arranged with four employers to obtain their view on university education in accounting.

Theoretical perspectives: The paper is written in the paradigm of positive theory in accounting, which strives to explain and predict the accounting choice and phenomenon. The legitimacy theory and stakeholder theory serve as the theoretical framework to gain full understandings of accounting education in Vietnamese universities.

Empirical foundation: A survey of 55 accounting graduates delivers the expectations and feedback of this group on accounting education in Vietnamese universities. Furthermore, four interviews with senior-level staffs at four different organizations provide qualitative reasoning for the conclusion of the study.

Conclusions: Although the Vietnamese accounting profession is heavily regulated by the Ministry of Finance, no standard on accounting education and training has been set by this regulatory organization. In fact, the Ministry of Education and Training performs the curriculum-setting role. Lack of interaction between the professionals and academics leads the outdated curriculum and underdevelopment of skills for employability. Discrepancy thus exists between the expectations of accounting graduates and employers and their perceptions regarding the quality of accounting programs offered by Vietnamese universities. Foreign professional bodies, namely the ACCA and CPA Australia, gradually play a critical role filling the gap and challenge the traditionally perceived role of universities. (Less)
Please use this url to cite or link to this publication:
author
Huynh, Trung LU and Tran, Thi Phuong Thao LU
supervisor
organization
course
BUSN69 20131
year
type
H1 - Master's Degree (One Year)
subject
keywords
accounting education, university, Vietnam, employability, legitimacy, stakeholders
language
English
id
3799939
date added to LUP
2013-06-26 11:53:15
date last changed
2013-06-26 11:53:15
@misc{3799939,
  abstract     = {Seminar date: 30 May 2013

Course: BUSN69 – Degree Project in Accounting and Auditing

Authors: Alex Trung Huỳnh and Thảo Trần

Supervisors: Anne Loft and Maria Bengtsson

Key words: accounting education, university, Vietnam, employability, legitimacy, stakeholders.

Background and problem: Since Đổi Mới, the Economic Reformation, in 1986, Vietnam has seen a huge improvement in terms of economic development with the financial market emerged as a core piece. Demand for qualified accountants has increased with the inception of various accounting firms. The profession, as a result, becomes a magnet for students to pursue. Yet, few students can meet the requirements of employers. What has gone wrong?

Purpose: The paper aims to analyze the accounting education in Vietnamese universities by using the theories of legitimacy and stakeholders. In addition, it provides a general picture of accounting education in Vietnam and current actors within the process. 

Methodology: The research method has three components that search for both quantitative and qualitative results, using both primary and secondary data. First, an analysis of curriculum framework developed by the Ministry of Education and Training, content of accounting program offered at the Academy of Finance, and subjects of the ACCA qualification is performed to assess the development of current accounting curriculum in Vietnamese universities. Second, a survey targeting accounting graduates is conducted to seek their perspectives on previous undergraduate studies. Finally, an in-depth interview is arranged with four employers to obtain their view on university education in accounting. 

Theoretical perspectives: The paper is written in the paradigm of positive theory in accounting, which strives to explain and predict the accounting choice and phenomenon. The legitimacy theory and stakeholder theory serve as the theoretical framework to gain full understandings of accounting education in Vietnamese universities.

Empirical foundation: A survey of 55 accounting graduates delivers the expectations and feedback of this group on accounting education in Vietnamese universities. Furthermore, four interviews with senior-level staffs at four different organizations provide qualitative reasoning for the conclusion of the study.

Conclusions: Although the Vietnamese accounting profession is heavily regulated by the Ministry of Finance, no standard on accounting education and training has been set by this regulatory organization. In fact, the Ministry of Education and Training performs the curriculum-setting role. Lack of interaction between the professionals and academics leads the outdated curriculum and underdevelopment of skills for employability. Discrepancy thus exists between the expectations of accounting graduates and employers and their perceptions regarding the quality of accounting programs offered by Vietnamese universities. Foreign professional bodies, namely the ACCA and CPA Australia, gradually play a critical role filling the gap and challenge the traditionally perceived role of universities.},
  author       = {Huynh, Trung and Tran, Thi Phuong Thao},
  keyword      = {accounting education,university,Vietnam,employability,legitimacy,stakeholders},
  language     = {eng},
  note         = {Student Paper},
  title        = {ACCOUNTING EDUCATION IN VIETNAM THROUGH THE LENSES OF LEGITIMACY THEORY AND STAKEHOLDER THEORY},
  year         = {2013},
}