29th October, 2021
MYOB continues to partner with more universities across Australia and New Zealand, giving students better access to cloud-based accounting and business management solutions.
The role of technology is pivotal in both business and education. Increasingly, educators need software solutions that not only facilitate learning, but also provide students with the experiential training they’ll need to compete on the job market.
That’s why MYOB has been working hard to partner with educators like Nikki Schonfeldt, a lecturer of accounting for the University of Western Australia’s Business School.
As unit coordinator for the introductory financial accounting units offered as part of UWA’s Master of Professional Accounting course, Schonfeldt has a clear view of the breadth of skills her students must develop.
“Recent developments in international accounting education standards and accreditation requirements have reinforced the importance of developing ICT skills in accounting graduates to ensure they are ready for the demands of the accounting profession today,” she said.
Schonfeldt then began to consider how to integrate this thinking into her course plans.
“In response to these changes, I developed an integrated assignment which enables students to not only consolidate their understanding of the accounting cycle, but also develop skills in using spreadsheets as well as accounting software.”
For the rest, MYOB stepped in to offer the right tools for the task.
“MYOB offers all the functionality required to execute the assignment at no extra cost to the student or the university,” said Schonfeldt.
“The support resources available are comprehensive and intuitive, which means students can complete the assignment with self-directed learning, meaning we don’t have to sacrifice class time to teach the use of the software.
“This is important for two reasons: first, the accounting curriculum is content heavy, which means there is little scope to add an additional topic let alone teaching different software.
“Second, with the large volume of support readily available on the internet, students must learn how to resolve technical problems utilising online support.
“Finally, given the pace of technological change, I want my students to have the ability to adapt to change.”
READ: Accounting basics: Terms, statements & steps to get started
One of the key reasons behind the need for student access to modern accounting and business management software lies in their power to derive actionable insight.
The ability to access live reporting and the ability to develop useful insights is exactly one of the points Schonfeldt is seeking to promote in her courses.
“Accounting software has seen significant advances in recent years and is now an essential business advisory tool that can be used to run a more efficient business,” she said.
“With the increased reliance on accounting software, employers expect graduates to have the ability to adapt to new technologies.
“It is important for students to develop their confidence in using accounting software as those skills are transferrable to other reporting systems they will encounter as graduates.”
For Schonfeldt, MYOB met and exceeded these requirements.
“My experience using MYOB to administer the assignment has been very positive.
“The support provided by MYOB’s education team has been exceptional as they’ve partnered with us to enhance the student experience.”
If you’re an educator seeking better ways to offer your students hands-on experiences in accounting, download our education brochure for further information about partnering with MYOB.