Accounting Education Challenges in the New Millennium Era
Impact of Advanced of Technology and Dynamic Business Environment
Sofik Handoyo and Syaiful Anas
Faculty of Economics and Business, Universitas Padjadjaran
Keywords: Accounting Education, Millennium, Advanced of Technology, Dynamic Business Environment.
Abstract: The new Millennium era is closely associated with turbulence business environment along with advanced of
Information and technology. Job market demands university graduates to concern not only technical skills but
also beyond that. Accounting education institutions must respond the changes by providing education systems
that comply with market expectations. This paper described critical thinking related new orientation of
accounting education institutions in responding currently advanced of technology, dynamic business
environment along with millennial generation characteristics. This paper explored using literature review
perspective to understand the implications of advanced of technology, changing business environment and
special character of millennial generation on accounting education in higher institutions. The paper is expected
to give a new perspective for accounting education institutions in terms of handling education process in the
era with full of technologically advanced, dynamic business environment and the different character of a
student of the millennial generation. Accounting academicians need to make an adaptation in terms of
teaching method to fulfill market expectation towards accounting graduates. Accounting Education
institutions must be aware of their system education, curriculum, and learning outcomes. This paper explores
some ways in which this might be achieved and some of the challenges to effecting change in accounting
education that will have to be overcome.
1 INTRODUCTION
The world is dynamically changing around us and fast
and every activity is feeling the unprecedented impact
of rapid demographic changes, economic shifts,
increasing resource scarcity, urbanization, and
technology breakthroughs (PwC, 2015). The practice
in a business organization is also constantly changing
and evolving, resulting in significant change in the
nature of the accountants work in practice (Gorman,
2006). Therefore, challenges from the changing
business environment for the accountant are more and
more complex compared to past period of time
(Gorman, 2006). Changes in the business
environment, emanating from technological
developments, globalization and market and
regulatory pressures, have led to the
reconceptualization and repositioning of the role of
professional accountants (Byrne and Flood, 2003).
Changes in business practice and technology
advanced have implication on new requirement of
accountant skills and have transformed accountants
into knowledge workers (Dellaportas and Hassall,
2013). Accounting is a changing phenomenon, where
both management accounting (MA) and financial
accounting (FA) activities, technologies and concepts
are continuously evolving and redefining themselves
(Taipaleenmäki and Ikäheimo, 2013). In fact,
accounting education must stay relevant if it does not
want to become extinct (Topandasani and Sanchalit,
2005)
New technological advances affect the way
information is handled in education institutions,
libraries and information centers. The impacts of new
technologies are felt by every actor in schools and
universities because computing, communication, and
mass storage technologies reshape the way that
learners, teachers, and education staff access,
retrieve, store, manipulate and disseminate
information to each other (Bouarab-Dahmani and
Tahi, 2015). The way of learning has changed and
will change since Information Communication
Technology (ICT) is in all ways a part of our lives
(Bouarab-Dahmani and Tahi, 2015). The role of
technology in education is so important, that it will
force the issue of didactic versus constructivist
190
Handoyo, S. and Anas, S.
Accounting Education Challenges in the New Millennium Era - Impact of Advanced of Technology and Dynamic Business Environment.
In Proceedings of the 1st International Conference on Educational Sciences (ICES 2017) - Volume 1, pages 190-197
ISBN: 978-989-758-314-8
Copyright © 2018 by SCITEPRESS – Science and Technology Publications, Lda. All rights reserved

teaching (Bouarab-Dahmani and Tahi, 2015).
Teachers will no longer have a choice but will be
compelled to use a constructivist approach in a
technology-rich environment (Bouarab-Dahmani and
Tahi, 2015). Modern technology has the potential to
create authentic and innovative learning experiences
for the student (Adukaite, Van Zyl, and Cantoni,
2016). ICT usage is shifting toward interactive
instructional platforms and tools and it facilitates
more self-regulated learning and engagement
(Adukaite et al., 2016). The arrival of a new century
and millennium is a time for ‘taking stock’ and
reflection. In the field of accounting education, this
desire for introspection is given greater urgency by
the significant changes that technology is already
imposing on business practices and the need to
reconsider the role of accounting practitioners as
business changes (Howieson, 2003).
Challenges in accounting education are also
associated with the changes of the character of
generation X to generation Y or widely known as a
millennial generation. The millennial generation has
garnered a tremendous amount of attention for their
unique characteristics compared with previous
generations. (Phillips and Trainor, 2014). One of the
main differences is that Millennials were born into the
world where technology is ubiquitous. The literature
on Millennials uniformly suggests that, as educators,
we must understand this new generation of learners in
order to educate them effectively (Phillips and
Trainor, 2014). There is a growing body of research
on the millennial generation and how their distinctive
characteristics and learning styles are forcing
institutions of higher education to rethink the
traditional, lecture-type approach to education
(Phillips and Trainor, 2014). Unique characteristics
of Millennials “are challenging the traditional
classroom teaching structure, and faculty is realizing
that traditional classroom teaching is no longer
effective with these students (Phillips and Trainor,
2014). Therefore, there is need and urgency to
introduce a new approach for teaching method and
curriculum in accounting education adjusted to
millennial generation characteristics.
This paper aims to explore based on literature
review the implication of millennium generation,
advanced information technology, dynamics business
environment on accounting education. The discussion
is expected to give a proposal of a potential solution
to accounting education in terms of teaching method
and curriculum. Advanced technology that will be
discussed in this paper is more focusing on the
implication of high-speed internet access, cloud
computing, mobile technology, and big data on
accounting education. The implication of dynamic
business environment on accounting education, this
paper will be focusing on the changing business
platform from offline into online business and
extension of skills required for professional
accountant demanded by today’s business practice.
Furthermore, this paper will also explore the
implication of millennial generation characteristics
on changing the orientation of teaching method in
accounting education. By developing a
contextualized understanding of present-day
student’s characteristics, technology, and business
environment, this review provides a foundation for
addressing the education challenges of the new
millennium.
2 LITERATURE REVIEW
2.1 Advanced of Information
Technology and Accounting
Education
In recent years the impact of technology and
globalization has changed significantly the context
within which the accountancy profession works.
Accounting graduates should now have a very
different education from that of earlier generations,
who had entered the job market in a world
characterized by simple computerized systems and
manual processes (Kotb, Roberts, and Stoner, 2013).
Individuals entering the accounting profession must
acquire the necessary skills to use technology tools
effectively and efficient (Willis, 2016). There is
mounting evidence that the deployment of digital
technologies by organizations not only affects the
economics of operational and managerial processes
but also mobilizes extensive social and organizational
effects including education institutions (Bhimani,
2003). Starting from 2000, ICT has been placed on
the education reform agenda both as an object of
education and as an important pedagogical tool for
innovating teaching methodology (Peeraer and
Petegem, 2015). The AACSB standard A7 requires
that “accounting programs include learning
experiences that develop skills and knowledge related
to the integration of information technology in
accounting and business (Willis, 2016)
In a higher education environment where
technological innovation is having a transformational
impact on teaching and learning, the increased
technological literacy among faculty is of central
importance (Watty, Mckay, and Ngo, 2016). The
Accounting Education Challenges in the New Millennium Era - Impact of Advanced of Technology and Dynamic Business Environment
191

information technology infrastructure is being
perceived as an “enabling” resource that can help in
developing leaner and more flexible structures that
can respond quickly to the dynamics of a fast-
changing market scenario (Topandasani and
Sanchalit, 2005). It is important for both educators
and students to understand the role of accounting
information systems, as well as the available
technology tools, in making the practice of
accounting more efficient (Scarpati and Johnson,
2012). Technology is certainly not an uncontested or
uncontroversial area of education and many of the
issues that surround education and technology are the
fundamentally political questions that are always
asked of education and society (Peeraer and Petegem,
2015). ICT is one of the most visible symbols of
globalization and educational innovation and is often
presented as both a cause and a consequent driver for
educational innovation and change (Peeraer and
Petegem, 2015).
The integration of ICT is moving beyond getting
personal computers into the hands of learners and
towards mobile technology, virtual world, and cloud
computing amongst other (Peeraer and Petegem,
2015). Advances are happening in every
technological area at never-before-seen speeds: in
computing power, software, artificial intelligence,
data analytics, cloud computing, networking
capabilities, and the proliferation of mobile devices
(PwC, 2015). Tools such as the Internet have
overcome problems such as trade barriers and have
introduced all businesses to increasing competition
due to the globalization of business. In the accounting
system, the Internet (as well as E-commerce) has the
greatest impact on financial planning corporate
taxation, audit procedures, testing audit planning, and
training, capital project planning (Topandasani and
Sanchalit, 2005). The improvement of technology
made possible access internet in high speed. High-
speed internet access is not only benefiting business
enterprises but also education institution. American
Institute of Certified Public Accountants (AICPA)
and the American Accounting Association (AAA) to
examine the future of higher accounting education,
suggests that educators ‘‘transform learning
experiences to reflect current and emerging
technologies and global trends in business (Janvrin
and Weidenmier Watson, 2017). Information and
Communication Technology (ICT) services are now
used with various types of tools to aid the different
learning tasks (Bouarab-Dahmani and Tahi, 2015).
High-speed internet facilitates potential application
of education process through the internet such as
online class or video conference platform.
Furthermore, with high-speed internet, transfer data
of material course is more convenience.
One challenge in our increasingly connected
society is the proliferation of data. Every company,
regardless of size, is bursting with information—
often more than it knows what to do with. This
includes operational data (e.g. from sales figures,
transactional information, delivery records, and
revenue numbers), mechanical data (e.g. from
medical devices, smartphones, cash registers,
airplanes), and social data (e.g. from Facebook,
Twitter, or blogs) (PwC, 2015). In the last few years,
the term Big Data has emerged as the new buzz word.
Provides a more official definition of Big Data as,
‘‘high- volume, high-velocity and/or high-variety
information assets that demand cost-effective,
innovative forms of information processing that
enable enhanced insight, decision-making, and
process automation (Janvrin and Weidenmier
Watson, 2017). Volume, velocity, and variety are
known as the three-Vs and imply that vast amounts of
transactions are quickly created from a wide variety
of sources (Janvrin and Weidenmier Watson, 2017).
Other sources frequently suggest two additional Big
Data Vs – veracity and value. Veracity refers to the
data accuracy and reliability of data while value
examines the cost-benefit of collecting data
Accountants tend to focus on the veracity and
value/cost-benefit of data collection.
The AACSB emphasized the importance of
integrating Big Data and business analytics into the
accounting curriculum (Sledgianowski, Gomaa, and
Tan, 2017). The AACSB wants an interdisciplinary,
integrated accounting curriculum that exposes
students not only to the concepts of statistics, data
management, and analytics but also to the hands-on
use of appropriate tools for Big Data (Janvrin and
Weidenmier Watson, 2017). The AACSB
Accounting Standard 7 mentions that Accounting
degree programs include learning experiences that
develop skills and knowledge related to the
integration of information technology in accounting
and business. Included in these learning experiences
are the development of skills and knowledge related
to data creation, data sharing, data analytics, data
mining, data reporting, and storage within and across
organizations (Janvrin and Weidenmier Watson,
2017). Given that these technologies are transforming
the accounting profession, the Pathways Commission
recommends that accounting programs integrate
business and accounting information technology
throughout the curriculum (Janvrin and Weidenmier
Watson, 2017).
ICES 2017 - 1st International Conference on Educational Sciences
192

There is a new impetus for the accounting
profession to understand Big Data and business
analytics, creating a growing opportunity for
accounting educators to integrate these topics into the
curriculum (Sledgianowski et al., 2017). A subject
such data Analytics in Managerial Accounting can
integrate analytical thinking and technology skills,
introduces a critical thinking framework that provides
a sound structure for data analytics inquiry (Janvrin
and Weidenmier Watson, 2017). Accounting firms
and professional associations recommend that Big
Data, technology, and information systems be
integrated into accounting coursework to provide
students with the necessary skills and knowledge to
adapt to the data-centric environment (Sledgianowski
et al., 2017). Competency Integration for Accounting
Education framework for educators to integrate
information systems and technology competencies
relevant to Big Data and business analytics into the
accounting curriculum (Sledgianowski et al., 2017)
The use of computers has accelerated the pace of
business, globalization has increased competition,
EDI has facilitated the speedy, secure and accurate
transfer of documents across the globe and the
emergence of E-commerce has blurred the boundary
lines of sovereign states (Topandasani and Sanchalit,
2005). The adoption of enterprise resource planning
(ERP) systems have improved the quality,
accessibility, and timing of accounting information
for managers as well as improving transaction
processes and allowing firms to have more flexibility
in earnings management and the timing of earnings
releases (Taipaleenmäki and Ikäheimo, 2013).
Changes in corporate management are driven by an
integrated information platform facilitated through
information technology innovations, such as tightly
integrated ERP systems with shared database and
Internet solutions (Taipaleenmäki and Ikäheimo,
2013). IT innovations, such as ERP systems, support
and integrate both internal and external business
processes, thus opening a broader basis for
management control (Taipaleenmäki and Ikäheimo,
2013)
University accounting education change,
especially incorporating information technology,
against the threat of market obsolescence and more
recently (Kotb et al., 2013). Accountants and
accounting students are increasingly needing
improved awareness of and skills in using more
advanced IT systems. Therefore, by delivering
effective up-to-date education accounting educators
within the university systems may also need to
develop e-business content in their accounting
curriculum as a tool to help them capture or retain
their superiority as a source of well-educated recruits
into the profession. With the increasing body of
knowledge in accounting, developing the curriculum
for any accounting course can be both exciting and
challenging (Willis, 2016). In the last decade,
academics have been encouraged to implement new
and innovative technologies in their classrooms and
curriculum (Watty et al., 2016). One implication of
this rapidly changing business environment is clear
today’s accounting curriculum should be updated to
equip students with new skills, especially in
technology and data analytics (PwC, 2015).
2.2 Dynamics Business Environment
and Accounting Education
A number of recent studies have been conducted by
accountancy bodies to examine the changing
environment of the global accounting profession.
Electronic commerce, Internationalization of
business, increased competitive pressures, broader
scope accountability, pressures and information
technology, new work patterns, and attitude, the
nature of accountants work, change in accountants
work, structural changes, emerging areas of work,
changing skills are characteristics in today’s business
environment related accountant profession (Gorman,
2006). The dynamics changing business environment
has a consequence on how accounting profession
should prepare the qualification. More importantly,
Accounting education institutions has a responsibility
to facilitate education system that fulfills today's’ job
market demand. Beyond carrying out the fundamental
tasks of their work many accountants are now
required to possess a wide range of skills, including
excellent basic technical ability and knowledge of the
general business environment. (Gorman, 2006)
E-commerce and the Internet and accounting
education have a cause and effect relationship, which
should be harmonious and an ideal one (Topandasani
and Sanchalit, 2005). Commerce is becoming more
and more electronic. The real issue is the impact of
these connected computers on every sphere of
business. One factor which has taken place on this
account is the accumulation of huge data on the
various cross-breaks of business. This data can very
well be used by accountancy professionals to pinpoint
their actions as well as serve as best information
managers for decisions. E-commerce has also helped
in integrating the supply-side management into
accountancy having its specific role. Given the
increasing role of e-business in the real world and
accounting students need to understand the world in
which their discipline operates, it is, therefore,
Accounting Education Challenges in the New Millennium Era - Impact of Advanced of Technology and Dynamic Business Environment
193

arguably that it is becoming increasingly important
for students to be similarly exposed to the study of e-
business (Kotb et al., 2013). Possible implications of
developments in e-business audit for financial audit
professionals. They found that the traditional
authority enjoyed by external financial auditors is
being, and will be, increasingly challenged by IT
audit specialists. They argue that if the existing
knowledge and skills base of financial auditors is not
realigned to the business needs IT specialists are set
to dominate in the e-business audit jurisdiction (Kotb
et al., 2013)
The emerging business challenges from the
changing business environment for the accountant are
complex. One of the prime roles of the accountant is
to help the business to be profitable and competitive,
then this will inevitably mean that accountants will
need to be far more involved than their traditional
bean counter role within the firm. The ‘audit is dead’
that the future services offered by accounting firms
will include strategic planning, financial services,
banking consultancy marketing consultancy cost
reduction consultancy, human resources and
benchmarking to name a few. As the accountant’s
work and role are expected to continually change
within the business environment it operates, it has
been suggested that the accountant will now need a
variety of new skills in order to survive. An increased
demand for broader accountability, with corporate
governance, is becoming a subject of increasing
concern to stakeholders Recent accounting scandals
such as Enron, Parma at and WorldCom have
tarnished the reputation of the profession, however it
has brought about a wave of new legislation which
has seen increase costs for accounting firms, one of
the main market concerns is the impact of over-
regulation and increasing risk on the audit function
with onerous requirements pushing up
responsibilities and costs (Gorman, 2006)
The basic value of work has shifted from that of
physical assets of the firm to that of social capital. The
emergence of the knowledge age and knowledge-
intensive organizations in the form of professional
service firms has seen intellectual capital replace
land, labor and physical or financial capital as the
main factor of production. Professional service firms
(PSF) are knowledge-intensive organizations that
provide expert advice and services to clients; they
include accountants under the umbrella of PSF’s. The
new economic model has created a need for a new
type of information professional. In an era where the
importance of information and intellectual capital
seems to be in many cases invaluable especially when
this is related to a knowledge-based profession such
as accounting (Gorman, 2006). Historically the
primary role of the accountant was to carry out
routine bookkeeping and the preparation and auditing
of business accounts. Accountants now offer a range
of services to their clients such as tax planning,
budget analysis, financial and investment planning.
The 20th Century definition of the accountant it is
important now to consider how the role and work of
the accountant have varied from this definition
(Gorman, 2006). Accountants need to capitalize on
traditional values such as independence and concern
for the public interest, through migrating to higher
value-added activities, developing broader skills and
being committed to lifelong learning. More recent
research emphasizes that the large accountant
practice will have to implement a new structure and
business plan in order to compete in the changing
environment. The model of the multidisciplinary
business services firm until recently was the dominant
business plan, but that now most large accounting
firms are reversing course and returning to act as
financial auditors.
In order to cope in such a dynamic and changing
the environment, the accountant will need to develop
new skills. The presentation of information as of key
importance and accountants need to know how to
present the best quality with the least quantity, ‘doing
this needs a skilled blending of content, presentation,
and numeric details. As more and more diverse roles
are emerging for the accountant, the core skills
required involve communications, team participation,
and interaction, information technology, decision-
making and strategy, and planning. The accountant
will need a more versatile skills base, enabling him or
her to become a premier ‘business advisor’ and the
successful accountant of the future will be a strong
communicator, be well versed in information
technology, be able to combine technical skills with
strategic vision, seen himself as a professional
advisor and learn from the profession’s past mistakes.
They must continue to develop and maintain expert
competence in relevant technical accountancy areas
and link this expertise with other relevant and generic
business skills. Future accounting graduates should
be trained on in years to come, these include
communication skills, general business knowledge,
accounting knowledge, problem-solving skills,
information technology, personal attitudes and
capabilities and computer skills. Accounting
information is continually changing and the
accountant needs to develop the skills to continuously
acquire new information. The above skills would
suggest that the accountant of the today and the
accounting graduate of the future will along with their
ICES 2017 - 1st International Conference on Educational Sciences
194

core accounting skills also need to be able to reflect
and show expertise in a management advisory and
analyst role (Gorman, 2006)
Despite numerous calls for accounting curriculum
to reflect changes in the business world, university
accounting education has repeatedly been declared
out-of-date and failing to prepare graduates
adequately for the changing business world (Kotb et
al., 2013). There has been a range of studies calling
for the revitalization of accounting education through
the integration of emerging features of the business
world, such as technological developments, into
undergraduate accounting curriculum (Kotb et al.,
2013). The importance of university curriculum
content that reflects the knowledge and skills sets
required for an increasingly sophisticated and
changing business environment (Kotb et al., 2013).
accounting curriculum reflect the changes occurring
in the wider economy, particularly because
accounting graduates have to compete with the best
graduates from all disciplines, making it arguably
even more important that they have the knowledge
and skills that allow them to compete as effectively as
possible in such a challenging job marketplace (Kotb
et al., 2013). The need for accounting education to
change to reflect, inter alia, the implications of
changing technological demands of business has been
recognized, and lamented, for a long time. University
accounting education curriculum should include
subjects designed to provide students with a firm
understanding of global issues affecting society and
the business environment (Kotb et al., 2013).
2.3 The Millennial Generation and its
Implication on Accounting
Education
According to the Pew Research Center, Millennials
are those individuals born between 1981 and 2000
and are coming of age in the new millennium
(Leemann, 2011). Millennials are significantly
different than their predecessors, namely Baby
Boomers (born between 1946 and 1964) and
Generation X-ers (born between 1965 and 1980).
Millennials, also referred to as Generation Y,
generally, is considered hopeful and idealistic. These
individuals come from an environment where the
parents typically doted on them incessantly,
structured their activities continuously, and rewarded
them for participation rather than for success
(Glennon and Otr, 2016). The way Millennials were
raised has created a generation of workers not limited
by the constraints of practicality therefore, they can
be more creative and expansive in their possibilities
(Glennon and Otr, 2016). Millennials generally were
overly protected from failure by parents who viewed
building self-esteem as a priority (Glennon and Otr,
2016). Millennials are part of the network age, which
is different from the information age of Generation X,
who were able to obtain information more readily and
earlier than previous generations because of the
internet (Glennon and Otr, 2016).
Millennials truly are connected in every sense of
the word. Not only are their professional lives
connected through the Internet, cell phones, and text
messaging, influencing both local and global
perspectives, but they also are socially networked
through Internet sites such as MySpace and Facebook
(Glennon and Otr, 2016). Millennials can search
blogs and listservs easily for common clinical
dilemmas and the strategies used at other sites to
address these issues; investigate what clinical
situations and practices are occurring in other
countries; review the literature quickly for recent
evidence-based practice information communicates
with other sites to coordinate research efforts
(Glennon and Otr, 2016).
As part of an electronic network, Millennials have
their own communication style and jargon, which,
unfortunately, they may not realize is unprofessional
or, at times, inappropriate to use in a work situation.
It is important for the previous generations to guide
Millennials inappropriate communication. Millennial
students have a preference for interactive and
experiential learning approach (Phillips and Trainor,
2014). The millennial generation is considered to be
unique in many ways, not the least of which is their
reliance on technology. (Phillips and Trainor, 2014).
Never knowing the world without computers and the
Internet, millennials don’t see them as tools, but
rather as integral parts of their lives. Millennial
students will change the landscape of higher
education in permanent and irreversible ways
(Phillips and Trainor, 2014). Seven core traits that
define the millennial generation are special, sheltered,
confident, team-oriented, conventional, pressured,
and achieving (Phillips and Trainor, 2014). The
following lessons can be incorporated into accounting
classes related millennial generation, More “hands-
on” learning, Further engagement of students, when
possible, Creating a sense of personal involvement
and interaction in the classroom (Scarpati and
Johnson, 2012)
Where Generation X values control over work,
development opportunities and pay satisfaction,
Millennials are driven by the more social needs of
flexibility, appreciation, and team collaboration
(PwC, 2014). Many Millennials are unconvinced that
Accounting Education Challenges in the New Millennium Era - Impact of Advanced of Technology and Dynamic Business Environment
195

excessive work demands are worth the sacrifices to
their personal life and if they come into an
organization and find they’re not getting the full life
they want, they will look elsewhere (PwC, 2014).
Millennials are accustomed to exchanging
information via social media and other forms of
technology (PwC, 2014). Millennials, enjoying their
work and finding meaning and purpose in their work
is more important. As a result, our focus has shifted
to how we reward the quality and value of work and
recognize the needs of every person (PwC, 2014).
Millennials well understand the value of a team and
are just as committed to their units and to the firm as
previous generations (PwC, 2014).
Millennials do place more importance on being
part of cohesive teams and less on pay, so we need to
encourage them to connect, collaborate, and build
their networks (PwC, 2014). Millennials are much
more globally aware and oriented. They are much
more likely to say they would like global career
opportunities and they don’t expect to wait to earn
that option (PwC, 2014). Unlike previous
generations, Millennials are less likely to work at one
place for nine years or more (PwC, 2014). Millennials
are quick to react negatively to any perceived
disconnect between an organization's words and its
actions and they want to know what decisions are
being made at the leadership levels. If they don’t
receive the information they’re looking for, they’ll go
out and get it anyway, rather than waiting to be told
(PwC, 2014)
Generation Y, they want learning to be creative,
interactive, and fun; and they enjoy thinking outside
the box (Eckleberry-Hunt and Tucciarone, 2011).
Generation Y is technology savvy and advanced in
readiness to use new educational technologies
(Eckleberry-Hunt and Tucciarone, 2011). Millennials
do not look at an organization to see how they will fit
into it; rather, they look at how that organization will
fit into their lives flexibility and adaptability are
required to successfully work with Generation
Y(Eckleberry-Hunt and Tucciarone, 2011). Core
workplace values include online social
connectedness, teamwork, free expression, close
relationships with authority figures (as they had with
parents), creativity, work-life flexibility, and use of
technology (Eckleberry-Hunt and Tucciarone, 2011)
Learning, Millennials have been raised to believe
education is the path to success. Collaborative
approaches to learning and incorporate graphically
are best teaching method for the millennial
generation. Millennials have ideas and opinions they
are not afraid to express and they don’t like being
ignored. Multitasking, Millennials are excellent
multitasks, flourish in a team setting, solving
problems collaboratively. Millennials are the most
tech-savvy generation in history, therefore, the use
and develop apps that suit the needs of the business
practice is potential in the future of accounting
education (Leemann, 2011). Contextual teaching
using multimedia formats, case presentations,
audience participation, hands-on teaching, group
discussions and role model provides opportunities to
learn interactively. Involving the students in
developing and using new technologies are
interesting for the millennial generation. Discussion
defensiveness openly, the use 360-degree
evaluations, written feedback, accept honest and open
feedback without becoming defensive, giving
concrete and immediate feedback is among teaching
method that fits with millennial generation
(Eckleberry-Hunt and Tucciarone, 2011).
3 CONCLUSIONS
Millennium era has contrast different compared to the
previous era in terms of the way people communicate,
industry and business practice and how to run the
organization. One of the fundamental characteristics
in Millennium era is advanced technology, dynamic
business environment, and special character of
millennium generation. Education institution,
especially accounting education has to respond the
phenomena and adjusting education system in line
with the need of current era. Technology advanced
must be incorporated with education process to get
benefits of sophisticated technology in terms of
teaching method and media. Furthermore, accounting
education should also take care curriculum to be
adjusted with the need of industry and current
business practice. Adjustment of the curriculum must
consider the development of Information and
communication technology. In terms of the special
characteristics of the millennial generation,
accounting education must also adjust teaching
method fit with the expectation of generation
millennial. The traditional learning process is
considered no longer interesting among the millennial
generation. Therefore, accounting education
institution must do innovation the way process
transfer of knowledge conducted. By adjusting
education process with the character of the millennial
generation, accounting education process is believed
more interesting.
ICES 2017 - 1st International Conference on Educational Sciences
196

REFERENCES
Adukaite, A., Van Zyl, I., Cantoni, L. 2016. The role of
digital technology in tourism education: A case study
of South African secondary schools. Journal of
Hospitality, Leisure, Sport and Tourism Education, 19,
54–65.
Bouarab-Dahmani, F., Tahi, R. 2015. New Horizons on
Education Inspired by Information and communication
technologies. Procedia -Social and Behavioral
Sciences, 174, 602–608.
Byrne, M., Flood, B. 2003. Defining the present and
shaping the future: the changing nature of accounting
education in Ireland. Journal of Accounting Education.
Dellaportas, S., Hassall, T. 2013. Experiential learning in
accounting education: A prison visit.
Eckleberry-Hunt, J., Tucciarone, J. 2011. The challenges
and opportunities of teaching “generation y”. Journal
of Graduate Medical Education, 34, 458–61.
Glennon, T. J., Otr, L. 2016. Management Millennials in
the Workforce : Implications for Managers, 251, 1–5.
Gorman, J. P. 2006. Accounting Practice in the New
Millennium : A Practitioner ’ s View This dissertation
is submitted in partial fulfillment of the requirements
for the Degree of MA in Accounting, Letterkenny
Institute of Technology Presented to : Department of
Business Sch, July.
Howieson, B. 2003. Accounting practice in the new
millennium: is accounting education ready to meet the
challenge? The British Accounting Review, 35, 69–103.
Janvrin, D. J., Weidenmier Watson, M. 2017. “Big Data”:
A new twist to accounting. Journal of Accounting
Education.
Kotb, A., Roberts, C., Stoner, G. 2013. E-business in
accounting education in the UK and Ireland: Influences
on inclusion in the curriculum.
Leemann, J. E. 2011. How to manage millennials p. 320.
Retrieved from http://www.amazon.co.uk/How-
Manage-Jo-Owen/dp/0273759620
Peeraer, J., Petegem, P. Van. 2015. Integration or
transformation? Looking in the future of Information
and Communication Technology in education in
Vietnam.
Phillips, C., Trainor, J. 2014. Millennial Students and the
Flipped Classroom. Journal of Business and
Educational Leadership, 211, 519–531.
PwC. 2014. Engaging and empowering Millennials, 16.
PwC. 2015. Data Driven: What students need to succeed in
a rapidly changing business world, February 2015.
Scarpati, S., Johnson, P. 2012. Teaching and Advising a
New Generation of Accounting Students Teaching and
Advising a New Generation of Accounting Students,
August, 14–18.
Sledgianowski, D., Gomaa, M., Tan, C. 2017. Toward an
integration of Big Data, technology and information
systems competencies into the accounting curriculum.
Journal of Accounting Education, 38, 81–93.
Taipaleenmäki, J., Ikäheimo, S. 2013. On the convergence
of management accounting and financial accounting –
the role of information technology in accounting
change. International Journal of Accounting
Information Systems, 14, 321–348.
Topandasani, R., Sanchalit, B. 2005. Accounting Education
in The New Millenium With Respect To Emerging
Dimensions of Finance And Accounting In.
Watty, K., Mckay, J., Ngo, L. 2016. Innovators or
inhibitors? Accounting faculty resistance to new
educational technologies in higher education. Journal
of Accounting Education, 36, 1–15.
Willis, V. F. 2016. A model for teaching technology: Using
Excel in an accounting information systems course.
Journal of Accounting Education, 36, 87–99.
Accounting Education Challenges in the New Millennium Era - Impact of Advanced of Technology and Dynamic Business Environment
197