Dissertation Assignment -
Dissertation topic: Investigate how early career accountants navigate the challenge fulfilled within China.
1. Introduction (add 250words here) -
Under the state dominance controlling over the accounting reform has been continually emerging within last few years in terms of changing accounting standard, changes in human capital, and changes of accounting profession. (Citation) The development of accounting profession are signalled by the effort of convergence of international accounting rules which is westernisation (citation) and commercialisation along with the maturity of capital market development in China.(citation) Given the considerable revolution occurred in this field, decent studies addressed on the concern of globalisation and regulation in accounting profession in china. However, little research has been conducted to focus on the career development of accountants in early stage in china responding to the dynamic context. Thus, Research here is seeking to investigate how early career accountants navigate the challenge fulfilled within China in order to provide an insight of accountancy profession in China. The external factors such as the state dominance in the field, the introduction of technology to the accounting work will be discussed specifically to inspect how accountants respond to external context. On the other hand, the process of gaining work experience from internal perspective will be given an insight in terms of career advancement. Specifically, research evaluate the process of obtaining social state of early career accountants in terms of accumulation of valued cultural capital and conversion of human capital. As Bourdieu stated, the accumulation and transmission of human capital of actors is an important reflection of field. (Citation)
2. Literature review structure (3000words)
A. Profession theory
1. Profession 81 75
2. Accounting profession ART 2,7, 39,24,38 34 86 81
- Socialisation
- Function
- Diversification and specialisation
3. The accounting profession in China. 22 55
The role of accountants are changing with those changing context and influential factors.
4. The jurisdiction of accounting profession in China
- An Evidence showing the difference between western and china (citation)
- The expected role of accountants from the government in China (citation)
- Profession risk exposed as it linked to the company situation because of corporate governance
B. External context challenging the earlier accountants career (accounting field in China) ART 9 52 72
1. Dominance of government ART 4 6 14 16 25 27 22 43
- on the establishment and development of accounting industry (with the transmission from planned economy to market economy)
- History of accountancy profession in China
- It was a revolutionary process rather than evolutionary process
- An evidence showing this is great different between western, the example of Ireland.Art17
- Another citation: the dominance of government assign the regulator to reforming the accounting profession and industry. 1. Accounting standard (ART 3,10, 2. Changes in human capital 3. Reforms in jurisdiction system
- The state decide: Accounting standard;2 accounting system;3, accounting education (art 14)
2. The process of convergence of accounting standard with global accounting rules ART 7, 10,11,12,22 31 32
- However, the convergence of accountant standard and the convergence of accounting practice are questionable
- Convergence are successfully implemented
- Convergence are limited because of several reasons.
- Double- entry will be entirely used in accounting profession with a slowly process.
- Both Europe and USA are trying to keep in line with the accounting rules in global context, but the global rules are changing and are not stable.
3. Regulation
4. Training and education (ART 6 15 22 44
- Strategy of training (state predominance) ART 3
- Gap between education institution and practical profession;
- Disconnection between textbook and accounting practice.(ART 15
5. Entry of industry (6, 24, 44 86 79
- Entry qualification of industry keep changing with the certification set and requirement
- the human capital, the qualification and certificate are reformed by regulation
- UK access to the accounting profession
6. the enterprise/client perception and value towards the accountants in agent accounting firm
- Awareness of corporation and the identity of profession being valued by enterprise as the formalisation of regulation and policies.
7. Ethic climate, conflict (ART 13,39, 52 47 53 60 69 65 67 85 84 80
- Moral standard are not well-established in accounting professional which is so called moral vacuum. Some evidence of scandal in China.
- Whether the accountants are aware or emphasis on the ethic issue depending on what is the ethic climate in company. (citation)
- Further, the ethical climate in organisation have influence on the behaviour of accountants. (an article about job autonomy and counterproductive behaviour)
- Lower ethical climate lead to the unethical behaviour.
- Accountants are more awareness about the ethical issue than management level
- Conflict between organisational commitment and professional ethics.
8. Technology application in accounting ART 52 83 82 78 79 72
- The necessity of introducing the technology in accounting as to fulfil the need of processing data to finish the task.
- A call for application of AI in accounting
- Suggest the threat to the accounting profession and opportunity, which is more analytical skill focused. And perhaps the accounting body may shift from upper level.
- Lessen basic level of accounting
- Adoption of software skill required
- Work more efficiency
- But security are worried
C. Internal factors challenging the earlier career accountants
- The independence of accountants, the conflict between self-interest, clients need and regulation.(citation) (ART 10
- The relationship with government
- The difficult of acquiring embodied cultural capital, internal social capital
How actors in accounting profession react within this field? Or how do they expected to do so or have done with the changing context? What's the logic of actor embedded in interacting with the changing context?
5. Broader skill focusing (ART 5 19
- have tendency to move to management accounting which demanded to consider environmental factor and organisation factors in article 9 (citation)
- broader skill and management awareness required in education or training (citation)
6. Higher demand for accountants to keep up with the change in terms of accurate interpretation of policies (30 52
7. Networking and coordination
8. The importance of gaining/maintaining external social capital to keep good relationship with tax bureau (citation)
Arguments may not fit into earlier career accountants and could be explored further in future is:
The impact of introducing technology (AI) in accounting for earlier career accountants
The impact of the process of the convergence of accounting standard in China for earlier career accountants
Research gap:
Majority research are looking at the successful accountants in big 4 or big company, the representative of actual or real image of accountancy profession are questionable.
Many Research address on the globalisation and regulation of accounting profession, but whether the accountants keep up with the changes are not been concerned which is important for regulator and management act in this field.
Research emphasis on the dominance of state and government control over this field, the question is whether the actor in this field had self-determination logic or embedded with the habitus in pursuing the career.
Theory basis through research
1. Theory basis
13. Field and cultural capital definition (citation bourdieu books)
14. The importance and logic of accumulation and transmission
15. Its implication in accounting profession (citation)
16. Justification of why decide to discuss what forms of capital in the dissertation
2. Implication:
Give a big picture of accountant's development in the contemporary China
Build a clearer portray of accountants for management practice
May have implication for education and trainee institution on the necessary skill and knowledge needed for accountants.
3. Methodology (1500words)
1. Research question and aim
Topic: How early career accountants navigate the challenge fulfilled within China?
Research question:
- What forms of symbolic capital do early career accountants need to accumulate in China accounting profession?
- How do earlier career accountants develop external and internal capital to maintain their social position?
- What are the internal and external challenges facing earlier career accountants as they seek to develop internal and external social capital?
2. How and why semi-structured interview
3. The conduction of research
4. Introduce the interviewee background briefly
5. Coding method (using Giovia method)
4. Findings (4500words)
1. Certificate and experience are both important for promotion but work experience are more competitive than certificate. (There is no regulation in this industry that certificate is a must, thus the risk of the company's operation is exposed.) - certificate qualification as objective cultural capital are emphasised for promotion
2. Mentor/senior plays an important role for the early career accountants to adapt in this field and learn the practical skills. Besides the size and reputation of the company, mentor/senior set a limit of accountant's task and room for development and promotion to some degree. - Informal learning helps to gain cultural capital which is institutionalised.
3. Some of interviewee in the basic level of accounting industry are aware of the hit of technology within this field. And with the fast process of commercialisation of industry, some of interviewee accept the trend by pushing them to develop and expand their skills on broader level, in order to gain a higher level of position such as financial analyst. However, some of experienced interviewee in senior level implicated that they are resist the development of technology as there is limitation on the robots' work which is on the very basic level and cannot make decision. (In this way, shows a disembodied state that they emphasised on the ethic and responsibility through the work to consolidate their position. In turn, those who insist on the principle of accounting ethic (with self-determination) has to some degree change the jurisdiction in china, that is most of enterprise regard the accountants as technique rather strategic level in the business management. ) and also, this was the purpose of regulator's intensive work.
4. Keep up with the changing policies and interpretation is one of the accountants' work. By doing this, major of accountants have no official channel to get a formal and fixed interpretation of released accounting regulation, which is also could not acquire from the certification though it is updated according to regulation. Therefore, it increases the difficult to gain cultural capital because of less of control. Major of accountants tend to ask peers and college who has former experience on dealing with similar problem, and also will ask for tax bureau directly. Thus the accumulated experience are the core competence in this industry, but this does not mean valuing heavily on the past experience because the regulation are keep changing, that is to say, work experience inferring to the ability of interpretation of policy. (The local and centre policy are different and complicated) link with 1.
5. Interviewee emphasis on the size and reputation of firm will influence their room of development, that is to say the institution has play a key factor on gaining cultural capital through accountants' career prospect.
6. Because of different interpretation between accountants and clients, this increased the difficulty on the implementation of accountants' work, as they are required to deal with the conflict and negotiate to reach agreement which is both in line with the regulation and satisfy customer needs.
7. Communication are a key part of nature of accountants now as it has deal with the external departments (authorities and enterprise) and internal coordination. (Guanxi) - Communication seems to play an important role for accountants to transfer cultural capital to social capital and economic capital.
Challenge:
1. Jurisdiction of accounting profession in China. There is few general understanding among management level and enterprise in China, makes it difficult to negotiate and communicate to reach agreement between them. On the other hand, it is challenging the ethic and responsibility of accountants because enterprise do not understand accounting.
2. Certificate are updated according to the regulation, the difficult to obtain the cultural capital increased.
3. The difficulty in keeping competitive and gaining economic capital.
9. Commercialisation and technology development, make it difficult to keep competitive for the basic level and some have to rethink on their career direction.
10. In small and medium size firm, it appears to be high turning rate among the basic level of accountants because there is no barriers for people entry in this industry and they are easy to be replaced.
4. Deal with the relationship between accounting law and accounting standard; deal with the relationship between new accounting standard and old accounting regulation system.
Corresponsive action:
5. Develop the ability of Interpretation of latest released accounting policies.
6. bear in mind of Ethic and responsibility
7. Consolidate theoretical knowledge through acquiring certificate and practical experience
8. Deal with the conflict and coordination between clients' need and regulation. Improve communication skills.
9. Ask for peers and college to accumulate practical experience to gain cultural capital.
10. Develop broader skills and accumulated work experience to get promotion on higher level which is more competitive and are not easily to be replaced than basic level.
Cultural capital:
Some of the interviewee regard the economic capital as the first of importance as the salary and treatment are the priority factor when choosing the job. In the process of accumulating or acquiring the economic capital, majority of accountants seems patient and have a medium term of planning on the accumulating cultural capital, as the work experience and certificate could not gained instantly because the field in china are keep changing. Otherwise, some interviewee emphasised on the ethic and responsibility which is a key to gain the social capital.
5. Conclusion (750words)
Attachment:- Assignment Files.rar