Gen Z as The Catalyst for Change of the Future Accounting

Professions
Marsha Nisa A. Yusuf, Aqila Sabhira Irwan, Ignatius Edward Riantono
Accounting Department, School of Accounting
Bina Nusantara University
Jakarta, Indonesia 11480
marsha.yusuf@binus.ac.id, aqila.irwan@binus.ac.id, iriantono@binus.edu

Abstract

This paper aims to examine Indonesia’s Generation Z defined in the accounting field towards technology disruptive
of big data, gender attitudes and pursuit towards accounting as a profession, vocational expectations, and their
perceptions and cognitive style. This study used the quantitative method and the data were analysed using the SEM-
PLS method. The data set used in this paper was obtained by sending online questionnaires via social media. The
present study compares several aspects of a prior study of big data, gender attitude, pursuit of career in accounting,
vocational expectations, perception and cognitive Style. As the result showed that big data, vocational expectations,
cognitive style and perceptions have a positive influence toward the future of the accounting profession. Conversely,
gender attitudes and pursuit of accounting careers have a negative influence towards the accounting professions.
This paper only discusses the speculations of Gen Z who are involved in accounting in the Jakarta metropolitan area
or known locally as JABODETABEK (an abbreviation of Jakarta-Bogor-Depok-Tangerang-Bekasi). This paper uses
one example of technological disruption and some of the attributes that influence individual generation Z vocational
selection.

Keywords
Big Data, Accounting Profession, Generation Z, Accounting Career and Career Choice.

1. Introduction
Like any profession, the accounting professions also go through periods of time that determine where we are due to
numerous changes in technology and culture. Warren Buffet refers to accounting as the language of the business
world and plays a critical essential role in economic development. The essential role of accounting professions in
providing information for decision-making indicates the role in economic development (Venter et al. 2018) for the
people to be in place, functioning and fit for purpose, for the institutions and the standards (Welch 2012).

Over the past 10 years, efforts to understand millennials have brought about significant attention and invested with
the implicit expectations as the founder generation in the world for growing up in the internet age, millennials are
generally characterized by increased use and familiarity with the internet, mobile devices, and social media, which is
why they are also known as digital natives (Parry 2020). However, the generation is come to the point shifting from
Millennials to now called Gen Z (abbreviation of Generation Z), those who born in between 1997 and 2012 and their
coming-of-age lines between 1997 and 2001 are on their way to step on the stage of life, an adult and working life,
in which according to a survey that was conducted by (ACCA 2021) this young and fresh generation’s biggest
expectation is to update their capabilities continually to keep their job and worry about the impact of technology on
the job opportunities in the future, they also cite personal well-being and mental health as a worry.

In Indonesia, according to Hinduan et al. (2020), the Internet plays a more important role during teen life, only 9%
of this group read printed media such as newspapers. But mobile is where they spend most of their screen time,
based on Tirto Report (2017), 90% of Gen Z in Indonesia uses a smartphone daily and 35,2% uses social media for
Information Access. However, just right Gen Z starts pursuing their path to adult and working life, in March 2019,
they drastically consume digital and technology because of the catastrophe of worldwide pandemic COVID-19 as
imposes them to “stay-at-home” while doing their activities such as work from home with zoom, online classes and

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requires digital and huge amounts of data sent through the Internet. Mckinsey and Company (2018) led a survey that
technology can totally automate 42% of financial processes and transactional activities in the accountancy
profession, however it’s trusted in the range of 2 years, because of the quick spread of advances technology and their
convenience, a great many accountants are currently associated nationwide and worldwide, one result of the
transformation of innovation is the development of ‘big data’. Which brings us to elevate and prepare Big Data, an
information systems and activities which accumulate, retrieve, and examine enormous quantities of data (Green et
al. 2018), one of the technologies disruptive to Gen Z in Indonesia and their ability to use technology not only
effectively but also responsibly in their daily lives but also in the workplace while growing up with the global
pandemic COVID-19, especially these young generation in accounting field.

1.1 Objectives
This paper examines the recognition of big data, one of the disruptive technologies, on the accounting community as
it might change the demands of accounting data and its impact on decision-making. With tight competition in
technological advancement era and in recent global pandemic COVID-19, consequently, there are also might affect
on both mental-being and performance and career expectations in Gen Z in Indonesia, particularly in the accounting
professions as they join the workplace in the context of a constantly changing world of work.

2. Literature Review
Behavior accounting examines the communication process between the accounting knowledge and its client. It
determines the styles and attitudes that the individual in the dynamic position would need to understand. It isn’t just
traditional accounting reports that influence the choice of outsiders who need to have data regarding the
organization; it can also analyze the external factors and events of accounting by affecting the relevant people and
institutions (Baldacchino et al. 2018). According to the American Accounting Association (AAA), accounting is “...
the process of identifying, measuring, and communicating economic information to permit informed judgments and
decisions by users of the information.” By that, the accountant profession represents a qualified professional who
handles all levels of accountancy in a small business and performs various duties that include reporting and accounts
keeping (Jindrichovska and Kubickova 2016) actions can be taken by bodies representing the accounting profession
and/or donors when they believe that accounting bodies in a particular country or region are ineffective in promoting
economic development. Professional accountants in Indonesia are regulated in the Minister of Finance (MoF)
Decree No. 216/PMK.01/2017 and the Public Accountants Act No. 5 of 2011.

2.1 Big Data

Big data has recently been mainly used by practitioners and accountants, as high-volume, high-velocity and high-
variety information resource, requiring low-cost. Innovative forms of information processing to enhance insight and
decision-making. Volume refers to the size of data. Velocity represents the rate of increase in data generation and
(potential) processing. The desire of big data advocates is to monitor in real time, thereby influencing organizational
decision-making. Finally, variety refers to the diversity required by the nature of the data (Gandomi and Haider
2015). Arnaboldi et al. (2017) stated that the characteristics of Big Data has always been a matter of accounting in
its pursuit for reliable and significant information used for decision making. A study by Dalahmeh (2021) showed
that Big Data will affect the future of the accounting profession, which is consistent with the previous research
(Arnaboldi et al. 2017). As a result, the hypothesis 1 “Big Data has a positive influence on the accounting
professions” was proposed.

2.2 Gender Attitudes

Gender refers to the social, cultural, and psychological characteristics that are shared by males and females in certain
social circumstances. Statuses and roles are important components of social structure because they allow us to
organize our lives in regular and predictable ways. They dictate our conduct and contact with persons of various
social positions (Lindsey 2015). Numerous studies have highlighted gender differences in relation to women’s
deficits in masculine norms. For example, propose that there are gender differences in reasoning and social behavior
(Khlif and Achek 2017). Research conducted by Siboni et al. (2016) shows that accounting practices are associated
with male character traits. As a result, the hypothesis 2 “Gender Attitudes has a positive influence on the accounting
professions” was proposed.

2.3 Pursuit of Accounting Careers

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According to Ferreira and Santoso (2008) and Suryani et al. (2018) an individual's perceptions regarding someone in
a certain field of professions, influence their decisions in their intention to pursue a career. For instance, in the event
that the next generation has a favorable impression of accounting professions, they will be more likely to have a
positive goal to seek after these professions (Germanou et al. 2009; Hatane et al. 2022). As per Handley et al.
(2017), when it comes to pursuing a career, the exciting factor, the difficult factors, and the burdening factor impact
the next-in-line generation decision. The nature of the business environment has changed and caused globalization
as the result of the change; this encouraged the shifting of students' perceptions of accounting (Hatane et al. 2022).
Suryani et al. (2018) found that the big picture of accounting in Indonesian personalities, impacts their choice to
pursue accounting careers. As a result, the hypothesis 3 “Pursuit of Accounting Careers has a positive influence on
the accounting professions” was proposed.

2.4 Vocational Expectation Factors

This study would like to find the primary driver inspiring Generation Z in Indonesia their relationship between
perception of accounting professions and their cognitive styles. Investigations of understudies’ decision of a
significance in accounting began with research examining professional decision, since it was trusted that the next
generation’s goal of studying accounting was related with positive work expectations. A portion of these
examinations researched factors like natural qualities, monetary elements and social glory (e.g., Ahmed et al. 1997;
Gul et al. 1989; Mauldin et al. 2000). In connections from vocational expectation factors to perceptions toward the
accounting environment, this study repeated Sugahara et al. (2008) the calculated logistic regression analysis to
examine vocational expectation factors. As a result, the hypothesis 4 “Vocational Expectations of Generation Z has
a positive influence on the accounting professions” was proposed. 

2.5 Perceptions and Cognitive Style

Prior studies have been conducted in different parts of the world, and they have examined the effectiveness of
perceived factors that influence the young generation’s choice of majors and careers. They concluded that
accounting and non-accounting students in the United States (Allen 2004; Geiger and Ogilby 2000) United Kingdom
(Fisher and Murphy 1995; Marriott and Marriott 2003) Ireland (Byrne and Willis 2005), Australia (Jackling 2002)
and New Zealand (Tan and Laswad 2006) Such research is deemed necessary due to the rapidly evolving and
changing nature of Indonesia economy and while accounting departments need to hire young generations with
different cognitive styles to reflect the changing work environment, most previous research can only be robust and
demonstrated unique cognitive accounting of the young generation bias (Sugahara et al. 2008) Their perceptions can
be also explained by their cognitive style, Sugahara et al. (2008) has identified certain cognitive styles that influence
students’ decision-making, especially in accounting. Due to the rapidly developing and changing nature of our
economy, such research is considered necessary, although the accounting department to hire people with different
cognitive styles of students to reflect in the changing work environment, most previous studies have only been able
to show strong and unique cognitive biases among accounting students (Sugahara et al. 2008). Similarly, prior study
of Auyeung and Sands (1996) studied the cognitive learning styles of accounting students in Hong Kong, Taiwan
and Australia to investigate whether the difference in individualism/collectivism cultural dimension affects students’
cognitive development. As a result, the hypothesis 5 “Perceptions and Cognitive Style of Generation Z has a positive
influence on the accounting professions” was proposed. 

3. Methods
This study will utilize a quantitative approach that will be done by testing the hypothesis of independent
(exogenous) variables, which are big data, gender attitudes, pursuit of accounting careers, vocational expectation
factors, perceptions, and cognitive styles while the dependent (endogenous) variable is the future of the accounting
professions in Indonesia. Quantitative approach is information obtained in the form of numbers, usually through
structured questions (Sekaran and Bougie 2016). These variables were measured with ordinal variables scale. The
data analysis method used is Structural Equation Modeling (SEM) based on Partial Least Square (PLS) which
utilizes the SmartPLS 3 device.

4. Data Collection
In this research, authors use questionnaires as the data collection method and distributed to social media platforms.
The questions of the questionnaire will use positively and negatively worded questions with likert scale 1 (disagree
very strongly) to scale 6 (agree very strongly). Using Hair et al. (2010) methods, a high sample size makes it harder
to identify a good model, and an optimal sample size is between 100 and 200 respondents when using estimated

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interpretation with the Structural Equation Model (SEM). This research uses 100 respondents in accordance with the
population that has been defined in the accounting field in JABODETABEK (an acronym of Jakarta-Bogor-Depok-
Tangerang-Bekasi) to represent the entire population of Generation Z in Indonesia. According to PDDikti (2021),
those provinces have the most number of universities in Indonesia (top 5) and since it is the most populous
metropolitan area in Indonesia, we also included central districts for business which require an accountant field for
professionals.

5. Results and Discussion

5.1 Numerical Results
5.1.1 Outer Model
The first step to indicate the significance is to test the outer model by testing the variance of outer loading that
should have a minimum value of 0.7 and the outer loadings are larger than 0.7 shows that the indicator is reliable.
Below is the result of convergent validity test:

Table 1. Outer Loading

Indicator Results

X1.1 0.853

X1.3 0.821

X1.5 0.788

X1.6 0.824

X1.7 0.772

X2.1 0.857

X2.2 0.870

X2.5 0.837

X2.8 0.776

X3.5 0.834

X3.6 0.816

X3.10 0.765

X4.2 0.797

X4.4 0.750

X4.5 0.771

X4.6 0.780

X4.10 0.851

X4.11 0.809

X5.1 0.762

X5.5 0.769

X5.6 0.791

X5.7 0.724

X5.10 0.798

X5.11 0.764

X5.15 0.748

X5.17 0.798

Y1.1 0.864

Y1.3 0.918

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The indicators with loading factors value below 0.7 have been eliminated. From the table above, shows that
there are no loading factors below 0.7, therefore the construct meets the criteria of convergent validity. The
next step is test discriminant validity, which the result can be seen below:

Table 2. Cross Loading

X1 X2 X3 X4 X5 Y

X1.1 0.853 0.517 0.454 0.481 0.642 0.613

X1.3 0.821 0.341 0.382 0.348 0.511 0.663

X1.5 0.788 0.348 0.413 0.375 0.621 0.685

X1.6 0.824 0.365 0.356 0.349 0.578 0.613

X1.7 0.772 0.315 0.417 0.381 0.628 0.554

X2.1 0.438 0.857 0.415 0.523 0.478 0.340

X2.2 0.427 0.870 0.367 0.522 0.424 0.382

X2.5 0.324 0.837 0.418 0.527 0.379 0.287

X2.8 0.350 0.776 0.515 0.485 0.435 0.347

X3.5 0.421 0.329 0.816 0.574 0.655 0.374

X3.6 0.396 0.492 0.765 0.687 0.529 0.378

X3.10 0.388 0.416 0.834 0.578 0.575 0.426

X4.2 0.364 0.463 0.499 0.771 0.486 0.420

X4.4 0.274 0.507 0.624 0.780 0.469 0.304

X4.5 0.432 0.490 0.703 0.851 0.666 0.556

X4.6 0.358 0.513 0.540 0.809 0.528 0.377

X4.10 0.481 0.620 0.647 0.797 0.631 0.437

X4.11 0.290 0.305 0.583 0.750 0.482 0.308

X5.1 0.503 0.394 0.702 0.600 0.762 0.535

X5.5 0.579 0.408 0.526 0.553 0.764 0.603

X5.6 0.545 0.348 0.451 0.476 0.748 0.543

X5.7 0.583 0.500 0.612 0.615 0.798 0.530

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 X5.10 0.609 0.321 0.566 0.576 0.769 0.545

X5.11 0.600 0.372 0.547 0.469 0.791 0.455

X5.15 0.515 0.454 0.515 0.505 0.724 0.415

X5.17 0.563 0.385 0.543 0.478 0.798 0.449

Y1.1 0.591 0.302 0.389 0.399 0.582 0.864

Y1.3 0.772 0.417 0.475 0.524 0.614 0.918

The table above shows the cross-loading value of each indicator to which their construct has the biggest value.
Therefore, the latent variable is valid. The AVE results table can be seen below:

Table 3. AVE Results

Variable Average Variance Extracted (AVE)

Big Data 0.906

Gender Attitude 0.903

Pursuit of Accounting Careers 0.847

Vocational Expectations 0.911

Cognitive Style & Perceptions 0.921

Future of Accounting Professions 0.885

From the table above, all variables produced AVE value above 0.5. Therefore, all variables are valid. The next step
is the reliability test of the variables. Below is the result of Cronbach's Alpha & Composite Reliability:

Table 4. Results of Cronbach's Alpha & Composite Reliability

Variables Cronbach's Alpha Composite Reliability Rule of Thumb Results

Big Data 0.871 0.906 > 0.7 Reliable

Gender Attitudes 0.856 0.903 > 0.7 Reliable

Pursuit of Accounting Profession 0.729 0.847 > 0.7 Reliable

Vocational Expectation 0.884 0.911 > 0.7 Reliable

Cognitive Style and Perceptions 0.902 0.921 > 0.7 Reliable

The result of Cronbach’s Alpha shows that there are no variables below 0.7, therefore all variables passed the
reliability test. The result of Composite reliability value shows that all variables above 0.7, therefore the data is
reliable.
5.1.2 Inner Model

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R Square value is used to evaluate how much the latent exogenous variable influences the latent endogenous
variable. The result of R Square can be seen below:

Table 5. Results of R Square

Variable R Adjusted R
Square Square
Future of Accounting Professions 0.637 0.617

From the result above, the latent exogenous variable influences 63.7% of the latent endogenous variable. The
remaining 36.3% (100% - 63.7%) is influenced by other factors that are not included in this study.

Q Square value is used to evaluate whether the latent endogenous variable has predictive relevance. The result of Q
square can be seen below:

Table 6. Results of Q Square

Variable Q Square
Future of Accounting Professions 0.457

The result of Q square shows that the value is > 0, which means that the variable has predictive relevance. The null
hypothesis can be accepted if it has positive value, to analyze the value we test the path coefficient. Range of the
value is -1 to 1. The result of Path Coefficient can be seen below:

Table 7. Results of Path Coefficient

Y
X1 0.631
X2 -0.049
X3 -0.042
X4 0.198
X5 0.126

From the table above we can see that there are 3 endogenous variables that have positive value, so we can conclude
that those variables have a positive relationship. The other 2 variables have negative values, which means that it has
a negative relationship.

5.2 Graphical Results

The bootstrapping result is used to determine the significance level of the variables. Below is the result of
bootstrapping value.

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 Figure 1. Bootstrapping result

From the figure above we can see that the T-statistic value of Big Data has above 1.65 with the 10% probability
error. The other variables have values below 1.65 with the same amount percent of probability error.

5.3 Validation
Based on the results of the questionnaires that have been processed using SMART-PLS, which we can see the
numerical result in point number 5.1, we can conclude that:

Big Data
Hypothesis 1 that proposed “Big data has a positive significant influence on the future of accounting professions” is
supported. It is in line with the result found by Dalahmeh (2021) and also researchers found that the implementation
of big data in accounting will help future accountants in their process of recording financial transactions, which this
statement supported by Warren et al. (2015). The findings show that Generation Z in Indonesia are aware of the
impact of Big Data towards the accounting professions and how likely it will change the professions. It also shows
that Big Data is a helpful tool to assist accountants and it is not a threat that will replace the role of accountant. The
findings of this hypothesis also show that the future accountants must develop their skills and knowledge about Big
Data as it is increasing the importance of the future accountant role. As a result, Big Data impacts the accounting
profession positively.

Gender Attitudes
The result of this study shows that gender attitudes have a negative influence towards the accounting professions.
Thus, hypothesis 2 is rejected. Research into gender attitudes on the future of Indonesia accounting professions have
negative insignificant influence which followed the research conducted by McDowall and Jackling (2010), shows
that there is no difference in attitudes between gender towards the accounting profession. Eskew and Robert (1988)
stated that gender appeared to have no systematic impact on performance. It also has the same result with Dalcı et al.
(2013) a research in Iranian. Although, a study conducted by (Marriott and Marriott 2003) found that there is one
significant difference between gender at the end of their university period that their attitude towards the accounting
professions changes. Ahmad et al. (2015) also found that their attitude towards the accounting professions changes
at the end of their period in university. The findings show that there are no difference attitudes between gender

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towards the accounting professions and it impacts the professions negatively but insignificant. Both genders of
Generation Z see accounting as well-respected and prestigious professions with high salaries. But, the findings also
show that generation Z sees accountants as boring people and find little personal satisfaction in their work because it
involves dealing with large amounts of numerical data.

Pursuit of Accounting Careers

The hypothesis 3 unfortunately also has a negative impact towards the accounting professions. This is in line with
the findings of Ahmad et al. (2015) that even though the graduate students of accounting are supposedly becoming
accountants their intention to pursue a career in accounting is low. However, the result from Hatane et al. (2022),
shows that students have a positive intention towards becoming an accountant. Intention of pursuing a career in
accounting professions is how perceived generation Z towards accounting as a profession. Generation Z see the
accounting profession as a job that is innovative, interesting and also challenging. They also view accounting as a
job that is competitive and requires communication skills. Accounting professions are demanding and it involves
pressure. This is what makes their intention to pursue a career in the accounting professions low. As a result, it
impacts the accounting professions negatively.

Vocational Expectations
Hypothesis 4 proposing that vocational expectations of Generation Z has a positive impact towards the future of
accounting professions. This hypothesis is supported because the result shows that vocational expectations impact
the professions positively, but it is insignificant. Compatible with a study conducted by Sugahara et al. (2008) found
that vocational expectations have a positive impact towards the accounting professions. Vocational expectations
have 4 factors; intrinsic value, career status, work environment, and job market consideration. The findings of this
study shows that Generation Z expect that the accounting profession is a job that gives flexibility in career choices.
They also expect that the future of accounting professions requires creativity and gives independence. They also
expect, being an accountant also gives them the privilege of having powerful authority. This privilege also leads to
having a secure job employment and a good initial salary. As a result, these vocational expectations have positive
impacts towards the future of accounting professions.

Cognitive Style and Perceptions

The last hypothesis that was proposed is “Cognitive Style and Perceptions of Generation Z have positive impacts
towards the future of accounting professions. The findings of this study show that Cognitive Style and Perceptions
of Generation Z have positive impacts, but it is insignificant. Studies conducted by Sugahara et al. (2008) and
Saemann and Crooker (1999) show the result of negative relationships of cognitive style and perceptions towards
the accounting profession in the United States. In this study, Generation Z views the future of accounting
professions will be arranged according to intuition and imagination. Their way of thinking creatively will have a
positive impact towards the profession, although accounting professions are arranged according to facts and fixed.
As a result, their cognitive style and perceptions impact the future of accounting professions positively.

6. Conclusion
This study was conducted to test the positive and negative influence of Big Data, attitude, vocational expectations,
pursuit of career and perceptions of Generation Z in Indonesia toward accounting as a profession. It was found that
Big Data has a positive significant influence toward the future of the accounting profession. Vocational
expectations, Cognitive Style, and Perceptions of Generation Z in Indonesia towards the future of accounting
professions also impacts positively. Conversely, their gender attitude and intentions to pursue a career in accounting
professions have a negative influence, however it is insignificant towards the professions. The findings show that
Generation Z in Indonesia who are in the accounting field academically or professionally perceive that Big Data has
a positive impact and will help the role of accountant effectively and efficiently. The Ministry of Education, Culture,
Research, and Technology as the authorities that create the curriculum standard for Higher Education should prepare
a curriculum that prepares students of Higher Education to adapt in a new disruptive work environment. The
academia should help the student to improve their skill and adjust to this new disruptive era. The researchers hope
that this study can help as a reference to create teaching style and curriculum standards for the students of Higher
Education in Accounting. This study can help readers, especially the younger generation, to be aware of the
challenge that awaits them in the future of the new disruptive era and how they have to adapt to survive in a work
environment. Despite the contribution of Generation Z in Indonesia, this study has limitations such as the survey
that was distributed is limited to only 5 cities (JABODETABEK) in Indonesia. Thus, it does not represent Indonesia

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 generally as a whole country. It is recommended for future research to use more samples such as the other cities in
Indonesia, so that it can be generalized. Furthermore, future research can also analyze other variables that affect the
future of accounting professions so we can create a sustainable accounting profession.

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Biographies

Marsha Nisa A. Yusuf is a fourth-year accounting student at the Bina Nusantara (BINUS) University in Jakarta,
Indonesia. She is currently minoring in Auditing as her concentrated major and in between as a student she joined
Student Association of Accounting (HIMA) as an activist and has been a full-time accounting intern at a private
company of general trading in South Jakarta for a year. In early 2022, she accepted work in the Auditing field as a
junior auditor external  in one of the Public Accounting Firms in Tangerang.

Aqila Sabhira Irwan is a fourth-year accounting student at the Bina Nusantara (BINUS) University in Jakarta,
Indonesia. She is currently minoring in Auditing as her concentrated major. She was active in organization as an activist
and later as Organization Development Department Manager in Student Association of Accounting. She has some
experience in the Auditing field as an Intern in PwC Indonesia for a 3-months internship program. She has some interest
in auditing the Energy, Utilities, and Resources companies, in which it is her Business Unit in PwC Indonesia. She is
also interested in the psychology of human behavior.

Ignatius Edward Riantono is a faculty member of the accounting study program, subject content coordinator for
information system and accounting software in Bina Nusantara University. He completed his undergraduate program at

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the Department of Accounting, Faculty of Economics, University of Surabaya in 2008 with a concentration in
Accounting Information Systems and completed the Master in Accounting Postgraduate program at the Faculty of
Economics, Tarumanagara University.  He also completed CCFA (Certificated Corporate Forensic Auditor) degree
from PPM Management and BNSP (Badan Nasional Sertifikasi Profesi) and Cert.DA (Certificate in Data Analytics)
from ACCA (Association of Chartered Certified Accountants).

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