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The International Journal of Educational and Psychological Assessment August 2011, Vol. 8(1)

Assessing Higher Education Accounting Students: Development of the Accounting Quality Scale (AQuaS) Carlo Magno

De La Salle University, Manila, Philippines

Abstract
The present study developed a scale that measures characteristics of accounting students to be successful in the course. Studies in assessment of accounting students in higher education commonly focus on the outcomes covering knowledge and skills neglecting the non-cognitive part which also needs to be emphasized. A scale was constructed based on the framework by DiGabriel (2008), Fliedner, and Mathiesons (2009) constructs of accounting (thinking and planning, lean culture, business experience, and human relations). It was administered to 206 college accounting students in the Philippines. A four-factor structure was supported using Confirmatory Factor Analysis ( =982.44, df=120, GFI=.86, RMSEA=.09) as opposed to a one-factor or two-factor measurement models. Adequate internal consistencies for each subscale were obtained with Cronbachs alpha values of .65, .65, .82, and .75 for thinking and planning, lean culture, business experience, and human relations, respectively. Convergent validity was also attained where the four factors were all significantly correlated, p<.05. A Rasch Partial Credit Model showed that the scale manifests a high probability of observance of the four-point scale categories. When the items were calibrated as ability free, very few items under the subscales business experience and lean culture did not fit the Rasch model. Implications of the four factors were discussed.
2

Keywords: Accounting Quality Scale, thinking and planning,

lean culture, business

experience, and human relations respectively

Introduction The Accounting Education Change Commission (1990) declared the emphasis of certain accounting skills that are needed of accountants in higher education. Part of the intervention is to develop instructional methods and new frameworks for teaching accountants to emphasize analytical and conceptual thinking. The joint committee of the Institute of Management Accountants (IMA) and the Financial Executives Institute (FEI) indicated that accounting students appear to be deficient in managerial accounting topics, such as budgeting, asset management, and product costing which are needed in public accounting (Krueze and Newell 1996). Likewise, the study by Tanner and Cudd (1999) found that accounting students in higher education are generally perceived to be weak in writing, verbal, and math skills, thus, consequently provide a teaching challenge for finance professors. In the Philippine setting, the quality of accounting students that graduate from Higher Education Institutions (HEIs) are declining (Walfish, 2001). The basis for the decline are the (1) unpreparedness of the accounting graduates for the national licensure exam for accountants, (2) lack of efforts of the teachers in lowpaying universities to teach accounting, and (3) skills are not mastered, specifically
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the ones needed to succeed in the profession. These concerns are backed up by problems of students in higher education such as drop-out rates because of the inability to sustain tuition and studies, and lack of quality education in HEIs. The Professional Regulation Commission (PRC) reported that over the past years, there has been a decrease in the number of students attaining the passing mark in accounting. For 2009, there were only 1239 accounting board passers as compared to the previous years. In order to determine specific skills and weaknesses of accounting students in higher education, proper assessment procedures should be undertaken. The Professional Regulation Commission (PRC) is the only organization that provides tests for accounting for the purpose of licensing accountants in the Philippines. An available set of test for accountants ensures the accountability of teachers to further improve higher education students accounting skills. An accounting test not only will show students performance, it also provides feedback if higher education students are meeting necessary standards in accounting. Furthermore, an accounting test validates college degrees, which can vary significantly in content, focus, and style between HEIs. The topical material covered in an accounting test should be consistent with the material covered by undergraduate accounting programs. The results of an accounting examination provide a measure of the quality of the university program and the extent to which the students have pursued their studies in accounting. However, test results can only provide the outcome of students performance through the scores generated. It is also important to assess the non-cognitive aspect such as attitudes and dispositions that would determine the important characteristics to exemplify in accounting. There are several skills needed in accounting, but it is important to delineate skills that are needed to be a successful accounting student. Several studies propose a variety of these skills that is needed to be emphasized among accounting students in higher education and professional accountants. The study by Usoff and Feldman (1998) surveyed 270 accounting students to identify their perceptions of the important technical and non-technical accounting skills. Students in the sample ranked accounting knowledge, logical reasoning, problem solving, professionalism, oral communications, and computer skills as essential and important. Low rankings were given to statistics, memorization, law, and economics. Further analysis showed that technical skills are generally ranked more important than non-technical skills by students in higher education. However, graduate students in higher education find non-technical accounting skills as important. In another study, Simons and Higgins (1990) surveyed academicians and small practitioners to determine their views about the extent to which certain skills and topics should be covered in the higher education curriculum in accounting. Their findings supported the view that "the mission-based accounting curriculum would have core accounting courses with more emphasis on problem-solving and communication skills, supported by a set of accounting electives" (p. 24). Palmer, Gilfillan, Palmer, and Adrian (1997) surveyed accountants who are non-public and public practitioners employed within the Commonwealth of Virginia that are presently members of the Institute of Internal Auditors (IIA),
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Institute of Management Accountants (IMA), and/or the Virginia Society of Certified Public Accountants (VSCPAs). They determined whether there are differences among the knowledge, skills, and abilities (KSAs) required by entrylevel public accountants and those required by entry level accountants in the nonpublic sector. There were no significant differences found on professional skills and abilities, KSA group accounting principles, KSAs listed under intermediate accounting, and issues listed under government and not-for-profit institutions. Significant differences between public and non-public accountants were on ethics, global issues, cost accounting, advance accounting, tax issues, legal issues, auditing, and control and management. In the Philippine setting, The Board of Accountancy jointly with the Task Force on Accountancy Education of the Commission on Higher Education came up with a well-defined set of core competencies for Filipino Certified Public Accountants (CPAs). This was made to undertake efforts to improve the entry-level qualification requirements for those desiring to enter the profession. The core competency document articulates the knowledge, skills, and professional values that new CPAs need to have in order to successfully face the challenges of today's changing environment and the future (p. 2). The competencies stated are categorized into knowledge, skills, and values. Knowledge includes general knowledge, organizational and business knowledge (administrative capability and efficiency, decision modeling, risk analysis and management, measurement, and industry/sector perspective), information technology, and accounting knowledge (Basic Accounting and Preparation of Financial Statements, the Accounting Profession and International Accounting Standards, Advanced Financial Accounting Practices, Advanced Financial Reporting Principles, Management Accounting Basic Concepts, Management Accounting Information for Planning, Decision-Making and Control, Taxation, Business and Commercial Laws, Auditing Fundamentals, Auditing: Advanced Concepts, Business Finance and Financial Management). The skills include intellectual (analysis, problem solving, strategic/critical thinking), interpersonal (being a team player, persuasion, confidence and diplomacy, discreetness, open mindedness and patience, capacity for work and ability to respond well to pressure), and communication (Ability to verbally and/or in writing explain financial/ statistical/ administrative matters/policies/ procedures/ regulatory matters/ audit results at a level appropriate to the audience; ability to ask clear, concise and relevant questions to obtain desired information to perform a task; Ability to negotiate effectively). Values include professional ethics (integrity, objectivity and independence, professional competence and due care, confidentiality, professional behavior) and moral values. Majority of the reports acknowledge the content knowledge and skills needed for accountants and have neglected the assessment of the non-cognitive skills of accounting students. Considering that there are stated and expressed need to assess non-cognitive characteristics necessary for accountants to possess such as non-technical skills and professional values, the present study constructed a scale that assess the non-cognitive part of accounting students' characteristics needed to succeed in their profession. The characteristics that will be measured in the assessment is based on DiGabriel (2008) and Fliedner and Mathiesons (2009)
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classification of accounting characteristics. They were able to extract the characteristics of accountants using factor analysis. DiGabriele (2008) identified competencies of accountants that include deductive analysis, critical analysis, problem solving, investigative flexibility, analytical proficiency, oral communication, written communication, legal knowledge, and composure. Respondents in the study indicated that the important characteristics using mean rankings are critical thinking, deductive analysis, and written communication. High correlations were found between deductive analysis and critical thinking, and between oral and written communication. When factor analysis was conducted on the nine components, two factors were extracted: knowledge and ability (deductive analysis, critical analysis, problem solving, investigative flexibility, analytical proficiency) and performance (oral communication, written communication, legal knowledge, and composure). On the other hand, Fleidner and Mathieson (2009) identified nine characteristics of accountants showing skills, knowledge, and expertise that included systems planning and thinking, human relation skills, real-world business knowledge and experience, lean culture, lean principles, stability and variance reduction, financial and accounting knowledge, delivery, and safety. These characteristics were identified based on the lean characteristics that accountants need to obtain. Lean characteristics are practices that promote cost-cutting, eliminate wastage, and improve productivity and quality. The specific financial and accounting skills in the model includes enterprise, time value of money, first in, first out, cash flow, working capital, return on net assets, and activity-based costing. The human relation skills include leadership, teamwork, basic problem solving, change management, interpersonal, logical thinking, and negotiation and conflict resolution. The two models presenting the important characteristics of accountants serve as a basis for an assessment tool for accounting students because they provide a clear classification of characteristics and used scientific procedures to arrive with the factors. There are marked similarities among the two frameworks, but they are combined to come up with a set of factors that will serve as core constructs in developing an assessment tool for accounting students. The combined factors include the following: (1) Thinking and planning, (2) lean culture, (3) business experience, and (4) human relations. Method Participants The participants in the study are 206 college students who are all major in accounting. These students have all finished at least five of their major accounting course in college. There are 98 males and 108 females with an average age of 18.12. The participants were taken from three HEIs in the Luzon area of the Philippines that offers a course in accountancy.

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Instrument A scale was constructed that measures the characteristics of accountants using DiGabriel (2008) and Fliedner and Mathiesons (2009) constructs for accounting. The Accounting Quality Scale (AQuaS) is an attitude scale composed of thinking and planning, lean culture, business experience, and human relations. The items were written based on the responses of students in a survey that was conducted. The survey was composed of four open-ended questions that determined specific manifestations of planning and thinking, human relations, business experience, and lean culture. The questions asked in the survey are: (1) What steps do you think about before solving accounting problems? (2) What interpersonal characteristics do you need to possess in order for you to become a professional accountant? (3) What experiences do you have that will require you to use accounting theories and principles in everyday life? And, (4) What practices do you think will make you produce quality outputs in the workplace? Each subscale of the Accounting Quality Scale (AQuaS) is composed of 60 items reflecting the needed characteristics of accounting students. The AQuaS made use of a four-point Lickert scale (1=strongly disagree, 2=disagree, 3=agree, 4=strongly agree). The items were reviewed by experts in accounting. Factorial validity of the scale was established using Confirmatory Factor Analysis (CFA). The internal consistency of the items for each subscale was also determined. Procedure Specific instructions and guidelines for the preliminary pretesting were developed. For the preliminary testing, the participants answered 240 items of the AQuaS. A period of one hour was given for the participants to answer. To determine the scales internal consistency, the Cronbachs alpha was used. First, convergent validity was established where the four factors were intercorrelated. The components of each factor were assessed for its fit and whether the components significantly contribute to the scale using Confirmatory Factor Analysis (CFA). The fit of the hypothesized four-factor model was assessed by examining several fit indices including three absolute and one incremental fit index. The minimum fit function chi-square, the root mean square error of approximation (RMSEA), and the standardized root mean square residual (SRMR) are absolute fit indices. The chi-square statistic (2) assesses the difference between the sample covariance matrix and the implied covariance matrix from the hypothesized model (Fan, Thompson, & Wang, 1999). A statistically nonsignificant 2 indicates adequate model fit. Because the 2 test is very sensitive to large sample sizes (Hu & Bentler, 1995), additional absolute fit indices were examined. The RMSEA is moderately sensitive to simple model misspecification and very sensitive to complex model misspecification (Hu & Bentler, 1998). Hu and Bentler (1999) suggest that values of .09 or less indicate a close fit. The SRMR is very sensitive to simple model misspecification and moderately sensitive to complex model misspecification (Hu and Bentler 1998). Hu and Bentler (1999) suggest that adequate fit is represented by values of .09 or less. In addition, other
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incremental fit indices, the comparative fit index (CFI) Akaike Information Criterion (AIC), Schwarz's Bayesian Criterion (SBC), and Browne-Cudeck Cross Validation Index (BCCVI) were examined. The CFI is moderately sensitive to simple model misspecification and very sensitive to complex model misspecification thats why both fit indices were considered (Hu & Bentler, 1998). Hu and Bentler (1999) recommend a cutoff of .95 or greater for the CFI. The scales item fit and difficulty was determined using the one-parameter Rasch Partial Credit Model. The partial credit model is used for items with scale categories (such as LIckert scale). Rasch analysis estimates the difficulty of dichotomous items as the natural logarithm of the odds of answering each item for each scale category. In analysis of polychotomous responses to the items, item difficulty, and person ability are defined such that when they are equal, there is a 50% chance of a correct response. As person ability exceeds item difficulty, the chance of a correct response increases as a logistic ogive function, and as item difficulty exceeds person ability, the chance of success decreases. The formal relationship among response probability, person ability, and item difficulty is given in the mathematical equation by Bond and Fox (2001). A graphic plot of this relationship, known as the item characteristic curve (ICC), is given for three items of different difficulty levels. Results The reliability of the scale was assessed using the Cronbachs alpha. The coefficient alpha determined the internal consistency of the 240 items as a whole and for each factor (60 items each). The construct validity of the scale was first assessed using convergent validity by intercorrelating the four proposed factors. The factor structure of the scale was also tested by comparing the four-factor model with a two-factor and a one-factor model. Item analysis was conducted using the Rasch Partial Credit model where item fit were assessed for each factor. Table 1

Descriptive Statistics for the AQuaS Factors

N
Thinking and Planning Lean Culture Business Experience Human Relations 206 206 206 206

M
2.83 2.85 3.02 2.66

CI -95% 2.81 2.83 3.00 2.63

CI 95% 2.85 2.87 3.05 2.68

Minimum Maximum

SD
0.15 0.13 0.19 0.18

Cronbach' s alpha

2.37 2.57 2.40 2.28

3.15 3.23 3.52 3.32

.65 .65 .82 .75

The descriptive statistics of the four subscales of the AQuaS was determined. The mean values are within a moderate range (a total of 4-point scale) but the subscale on business experience was high (M=3.02) as compared to other subscales. Standard deviations of the scores were minimal indicating low dispersion
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of the scores. The overall internal consistency of the scale using the Cronbachs alpha is .87 indicating high consistency of the items. The subscale on thinking and planning and lean culture had a marginal internal consistency and adequate for business experience and human relations. Table 2

Intercorrelations of the Factors of the AQuaS

(1) Thinking and Planning (2) Lean Culture (3) Business Experience (4) Human Relations *p<.05 **p<.01 1 --.39** .45** .28** 2 --.54** .25** 3 4

--.29**

---

When the subscales of the AQuaS were intercorrelated, significant correlation coefficients were obtained (p<.01). The significant correlations and positive magnitude indicates the convergence of the subscales. A high score in one subscale increases the scores in the other subscales. The factor structure of the AQuaS was tested using the Confirmatory Factor Analysis (CFA). A four-factor structure was compared to a two-factor structure and to a one-factor structure measurement model. This was done to determine which factor structure best fits the data. A four-factor structure is composed of four latent variables each for thinking and planning, lean culture, business experience, and human relations. Two measurement models were constructed for a two-factor structure (see Figure 1). The first one of the two models is composed of thinking and planning with lean culture in one latent variable correlated with another latent variable composed of business experience with human relations (see Figure 2). In another two-factor model, one latent variable is composed of thinking and planning with business experience correlated with another latent variable composed of lean culture with human relations (see Figure 3). In the one-factor model, all indicators were combined in one latent variable. Parcels were created as indicators for the latent variables. Four parcels were created for each factor by combining 15 items for one parcel. Parceled solutions resulted in less bias in estimates of structural parameters under normal distributions than did solutions based on the individual items (Bandalos, 2002). To determine which solution explains best the factors of the AQuaS, the goodness of fit indices were compared. The four-factor structure of the AQuaS turned out to have the best fit as opposed to a two-factor or a one-factor structure. The fit indices of the four-factor structure where the subscales are treated in separate latent variables had the best fit across several indices. The proposed model had the highest GFI, AGFI, NFI, NNFI, PFI, Bollens rho, and Bollens delta (see Table 3). The proposed model also had the lowest AIC, SBC, BCCI, and RMSEA (see Table 3).

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Table 3

Fit Indices of the Different Measurement Model for AQuaS

Four Factor Model 0.86 0.806 1.641 2.258 Two Factor Model (A) 0.815 0.756 1.994 2.529 Two Factor Model (B) 0.827 0.771 1.922 2.458 One Factor Model 0.803 0.742 2.110 2.629

Joreskog GFI Joreskog AGFI Akaike Information Criterion (AIC) Schwarz's Bayesian Criterion (SBC) Browne-Cudeck Cross Validation 2.023 1.951 2.138 Index (BCCVI) 1.675 Independence Model Chi-Square 982.437 982.437 982.437 982.437 Independence Model df 120 120 120 120 Bentler-Bonett Normed Fit Index 0.651 0.666 0.625 (NFI) 0.735 Bentler-Bonett Non-Normed Fit 0.676 0.696 0.646 Index (NNFI) 0.769 Bentler Comparative Fit Index 0.722 0.739 0.693 (BCFI) 0.812 James-Mulaik-Brett Parsimonious Fit 0.559 0.572 0.542 Index (PFI) 0.6 Bollen's Rho 0.675 0.594 0.611 0.567 Bollen's Delta 0.816 0.727 0.744 0.698 RMSEA 0.09 0.110 0.110 0.120 Note. Two Factor Model (A)=Thinking and Planning + Lean Culture <-> Business
Experience + Human Relations; Two Factor Model (B)=Thinking and Planning + Business Experience <-> Lean Culture + Human Relations
.32* .18* .79*

.59* .56*

.18*

Thinking and Planning

.10* T1 .11* .15* T2 T3 .12* T4 L1 .09*

Lean Culture

Business Experience
.10* .16* B3 B4

Human Relations

.06* .17* L2 L3

.23* L4 B1

.21* B2

.09*

.19* H1

.21* H2

.11* H3

.07* H4

Figure 1. Four-Factor Model of AQuaS

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.81*

Thinking and Planning + Lean Culture

Business experience + Human Relations

.10* T1 T2

.10*

.12* T3

.10* T4

.10* L1

.06*

.15* L2 L3

.10* L4 B1

.23* B2

.21*

.10* B3

.15* B4

.03* H1

.03*

.12* H2 H3

.12* H4

Figure 2. Two-Factor Model of AQuaS (A)

.72*

Thinking and Planning + Human Relations

Lean culture + Business Experience

.10* T1

.10* T2

.14* T3

.11* T4

.08* H1

.11* H2

.09* H3

.05* H4 L1

.09* L2

.05*

.15* L3

.08* L4

.23* B1

.20*

.09* B2 B3

.15* B4

Figure 3. Two-Factor Model of AQuaS (B)

AQuaS

.08* T1 T2

.08* T3

.11* T4

.08*

.09* B1

.05* B2

.14* B3

.08* B4

.22* L1

.20* L2

.10*

.15* L3 L4

.03

.03 H1

.12* H2 H3

.11* H4

Figure 4. One-Factor Model of AQuaS

To investigate the functioning of the items in the scale, the one-parameter Rasch partial Credit model was used. The scale categories (4-point scale) were first analyzed in the process to determine the threshold. Higher scale categories must reflect higher measures and low values for lower scales, thereby producing a monotonic increase in threshold values. The average step calibrations are, -1.18,
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1.00, 2.35, and 3.64. All average step functions are increasing monotonically indicating that a 4-point scale for each factor attained scale ordering where there is a high probability of observance of certain scale categories. To determine if the items under each domain has a unidimensional structure, item fit mean square (MNSQ) was computed. MNSQ INFIT values within 1.2 and 0.8 are acceptable. High values of item MNSQ indicate a lack of construct homogeneity with other items in a scale, whereas low values indicate redundancy with other items (Linacre & Wright, 1998). For thinking and planning and human relations, all items showed to have good fit. For the subscale on lean culture, only one item lacks construct homogeneity. For the subscale on business experience, 13 items lack construct homogeneity and 2 items are redundant. Discussion The main purpose of the study is to design a tool that would measure noncognitive characteristics of accounting students necessary to be successful in higher education. Four factors were proven where items are created to facilitate the quantification of accountants characteristics. The instrument constructed turned out to have adequate evidence of reliability and validity. The instrument is reliable where the items are internally consistent based on high values of the Cronbachs alpha. The scale was also evidenced to be valid based on the convergence of the four factors. Factorial validity was established where a four factor-structure explained the most adequate solution to fit the data supporting the characteristics identified by Fleidner and Mathieson (2009). The items of the four factors also showed to fit the partial credit Rasch model. This means that the items constructed in the scale are appropriate given the range of abilities of the respondents. Fit between the characteristics of the accounting students and the items are very much evidenced in the factors of thinking and planning and human relations. For lean culture, only one item did not fit. This indicates that all items are appropriate measures given the characteristics of college accounting majors. Having achieved internal consistency among the items indicates that there is a similarity how the respondents answer each items within a subscale. The items are the same in reference to the construct being measured. The participants while answering the scale have in mind that their characteristics as accountants are being measured. This evidence of internal consistency implies that there is a marked coherence among the items for a given factor. This coherence served as basis for considering the reliability of the items. The significant intercorrelation among the factors showed that as one subscale in the AQuaS increases, the others also increase. There is a pattern that one factor can predict the others. This evidence of convergent validity showed that the four factors have a commonality and refer to a general accountancy characteristic. The convergence of the factors is consistent in both the multiple correlations and CFA. This shows that the four accountancy characteristics have potential to be developed even if one is weak in one area. An accounting student who exemplifies lean culture and business experience can be expected to be good
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in human relations in business transactions and use planning and thinking to strategies when compelled to arrive at efficient processes in their work performance. This convergence also reflects the emphasis given in the selection of accountants. The selection process may include a criteria that require all factors of the AQuaS. A good accounting student can be qualified by exemplifying all four characteristics measured by the instruments. The four factors that include thinking and planning, lean culture, business experience, and human relations were confirmed using a sample of 206 accounting students. These four factors proven in the study exemplify the characteristics of accounting students. Confirming a four-factor model for accountancy as compared to fewer factors means that there are several characteristics considered in assessing the important characteristics of an accountant. This provides a multidimensional perspective in the assessment of accounting characteristics that focus on the assessment of multiple factors, This reflects how complex the requirements are needed for a qualified accounting student. The model confirmed in the study is an integration of both social-cognitive and practical experiences in order to succeed in the profession. The model combines a holistic perspective in assessing the characteristics of an accountant such that it represented different broad domains such as the cognitive, social, affective, and psychomotor. These facets are considered important in the development of an individual and more so in the development of an accountant towards expertise. The four factors confirmed shows that accountants social-cognitive characteristics are not only important as in the case of thinking and planning, and human relations but the practices that mimic the work of accountants such as lean culture and business experience. This supports the explanation of Fleidner and Mathieson (2009) that accountants under training needs to be provided a systems view in the world of work. The factor on practical inclination and lean culture also addresses the need of organizations in hiring employees that will immediately contribute to the company. For this reason, levels of business experience and lean culture needs to be assessed. In lean culture, employees are already expected to cooperate towards cost cutting, waste elimination, productivity, and quality improvement. In business experience, employees are expected to know the functions of the organization as a whole and how one's function contributes to the larger part of the company. The results calls for higher education institutions to strengthen the characteristics needed to be developed among accountants. Having identified the characteristics exemplified by accountants addresses the concern expressed by the Accounting Education Change Commission (1990) declaring the emphasis of certain accounting skills that is needed of accountants. Previous studies have identified characteristics of accountants and used various models but the present tool devised in the study made an exhaustive array of items that capture accounting students characteristics. Given the declining performance of accounting graduates in the Philippines, there is a need to search for characteristics needed by accounting students. These four factors that were derived in the study can be used as guidelines in order to identify potential successful accountants. The items in the scale showed a vast array of characteristics that
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represents the attitudes necessary to become a qualified accountant. These characteristics can serve as indicators that determined how well potential accountants can perform. The predisposing characteristics of the accounting students in higher education serve as a key in predicting how successful they will be in their future careers in accounting. The accountability of higher education institutions in producing quality accounting students depends much on the kind of assessment that identifies specific levels of students characteristics. Majority of the index that determine successful accountants are assessed through ability tests but the present study reiterated the importance of assessing non-cognitive characteristics needed by accounting students. In order to fulfill this purpose, a good instrument is needed to accurately assess specific non-cognitive characteristics. This was addressed in the present study by coming up with specific factors that can serve as criteria in determining accounting characteristics that can detect further development and reinforcement of specific skills. The present study provides a new theoretical typology for assessing quality accounting skills that explains the needed skills in order to exemplify in the field. This new typology serves three purposes: One is a diagnostic tool to assess students level of qualification in accountancy. Second, the tool served as a tool that can be used by higher education institutions to report levels of skills possessed by their accounting students. Lastly, faculty in higher education can use the results of the instrument to reflect on the kind of intervention and instruction provided for their accounting students. References Accounting Education Change Commission (AECC). (1990). Position Statement Number One. Issues in Accounting Education, 2, 307-312. Beyer, B. (1985). Critical thinking: What is it?. Social Education, 16, 271-276. Board of Accountancy. (2006). Core Competency Framework for Entry to the Philippine Accountancy Profession. Philippines: Professional Regulation Commission. Bolgna, J. G., & Linquist, R. J. (1995). Fraud auditing and forensic accounting. New York: Wiley. Bond, T. G., & Fox, C. M. (2001). Applying the Rasch model: Fundamental measurement in the human sciences. Mahwah, NJ: Erlbaum. DiGabriele, H. A. (2008). An empirical investigation of the relevant skills of forensic accountants. Journal of Education for Business, 10, 331-338. Dunn, R. (1982). Hands-on approaches to learning styles: A practical guide to successful schooling. PA: Thompson House. Fleidner, G., & Mathieson, K. (2009). Learning lean: A survey of industry lean needs. Journal of Education for Business, 12, 194-199. Halpern, D. F. (1998). Thinking for Transfer across Domains: Dispositions, Skills, Structure Training, and Metacognitive Monitoring. American Psychologist, 53, 449-455. Harris, C. K., & Brown, A. M. (2000). The qualities of a forensic accountant. Pennsylvania CPA Journal, 71, 23.
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The International Journal of Educational and Psychological Assessment August 2011, Vol. 8(1)

Kahan, S. (2006). Sherlock Holmes enters accounting: Dramatic increase in fraud brings more CPA sleuths into the industry. Accounting Today, 20, 8. Kreuze, J. G., & Newell, G. (1996) A strategy for improving the quality of entrylevel management accountants. Journal of Education for Business, 71(6), 334-339. Leahey, T. H., & Harris, R. J. (1997). Learning and cognition. Prentice Hall: New Jersey. Leitze, A. R., & Melser, N. A. (2005). Multiculturalizing creative writing and mathematical problem solving. Kappa Delta Pi Record, 41, 87-91. Messmer, M. (2004). Exploring options in forensic accounting. National Public Accountant, 5, 920. Palmer, K. N., Gilfillan, S. W., Palmer, G., & Adrian, M. (1997). Meeting the needs of nonpublic and public accountants in a 4-year program. Journal of Education for Business, 72, 267-273. Park, L. J. (1994). Good accounting skills: What more does a successful accountant need?. Journal of Education for Business, 69(4), 231-241. Reinstein, A., & Trebby, J. P. (1997). How accounting educators can help improve their students' writing skills. Journal of Education for Business, 73(2), 105114. Simons, K., & Higgins, M. (1990). An examination of practitioners' and academicians' views on the content of the accounting curriculum. Accounting Educators' Journal, 5(2), 24-34. Tanner, J., & Cudd, M. (1999). Finance degree programs and the issue of student preparedness. Journal of Education for Business, 74(6), 335-341. Usoff, C., & Feldmann, D. (1998). Accounting students' perceptions of important skills for career success. Journal of Education for Business, 73(4), 215-220. Walfish, G. (2001). Higher education in the Philippines: Lots of access, little quality. The Chronicle of Higher Education, 48(2), 60. Watson, G., & Glaser, E. M. (1980). Watson-Glaser Critical Thinking Appraisal. San Antonio, TX: Psychological Corp. Author Notes This study was part of the project on the development of the Accounting Quality Scale funded by the Asian Psychological Services and Assessment Corporation (APSA). About the Author Dr. Carlo Magno is presently a faculty of the Counseling and Educational Psychology Department of De La Salle University, 2401 Taft Ave. Manila, Philippines. He is presently teaching courses in statistics, measurement and evaluation, scaling theory, and psychometric theory. Most of his studies deal with development of measures and tools for assessment.

2011 Time Taylor Academic Journals ISSN 2094-0734