Universities’ standard accounting curricula are not preparing students for long-term careers in accounting, the US Institute of Management Accountants (IMA) chief executive Jeff Thomson has warned.
At the launch of an initiative called Competency Crisis, which is aimed at addressing the so-called accounting talent gap, Thomson said this issue is particularly noticeable in the field of management accounting.
According to IMA, there is a wide discrepancy between what employers need from accounting and finance staff and what undergraduates students learn in school.
"Accounting education needs to focus on students’ long-term career needs, and not just prepare students for their first job. The profession is changing and education should integrate the variety of competencies needed to add organisational value," said IMA vice-president of research Raef Lawson.
As part of the initiative IMA has developed a website to promote debate and find solutions to the accounting talent gap.
"We hope the Competency Crisis website will serve as a platform where employers, professionals, students and academics can learn more about the problem and discuss their experiences and ideas for the path forward," Thomson said.
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The US Institute of Management Accountants: Competency Crisis
