FACTORS AFFECTING THE AVAILABILITY OF ACCOUNTING PROFESSIONALS

TOWARS ACADEMIC FIELD

CHAPTER I
This chapter includes the introduction, which briefly explains the foundation of the study. The
statement of the problem which is the central body of the study. The significance of the study
in which identifies the benefits and usefulness of the research. The scopes and delimitations
of the study are also elaborated.

INTRODUCTION
Accounting is a foundational element of business, linked to providing control, stability, and
accountability to a company’s finances. It’s a role that will likely always be in demand. In
accordance, the Ohio University (2023) also stated that accountants also provide services that
can help a company develop strategies, make decisions, and comply with accounting laws
and regulations. Their evolving role often requires expertise that goes beyond crunching
numbers to also include knowledge of accounting systems, business valuations,
cybersecurity, and mergers and acquisitions. Accounting’s critical role in many facets of
business is a key reason for the field’s anticipated growth. It’s a great reason to study
accounting and pursue. 

As the business landscape becomes more complex, the need for skilled accounting
professionals in the academic field is also on the rise. According to a study by Tan and
Remoto (2019), "Low salaries are driving many accounting professors out of academia and
into the private sector, which is affecting the quality of accounting education and training in
the country". The study indicated that the salaries offered to accounting faculty in the
Philippines are significantly lower than those offered in other countries in the region, making
it difficult for educational institutions to attract and retain qualified accounting faculty.
Another factor contributing to the shortage of accounting professionals in the academe field
in the Philippines is the lack of opportunities for professional development and advancement.
In addition to the information stated, the study have mentioned that, "Many accounting
professors in the Philippines feel isolated and disconnected from the accounting profession,
and there are few opportunities for professional development and advancement".

The lack of opportunities for professional development and advancement may lead to a
decline in the number of individuals pursuing a career in accounting academia. Moreover,
another factor affecting the availability of accounting professionals in the academic field is
the shortage of qualified professionals. According to a report by the American Institute of
Certified Public Accountants (AICPA) (2018), "The demand for accounting professionals in
the academic field is increasing, but the supply is not keeping up with the demand". The
report highlights that the shortage of qualified accounting professionals is due to several
factors, including the aging workforce, competition from the private sector, and a decline in
the number of individuals pursuing a career in accounting academia. Furthermore, the
increasing complexity of accounting standards and regulations is also affecting the
availability of accounting professionals in the academic field. As stated by a report by the
International Federation of Accountants (IFAC) (2021), "The increasing complexity of
FACTORS AFFECTING THE AVAILABILITY OF ACCOUNTING PROFESSIONALS
TOWARS ACADEMIC FIELD

accounting standards and regulations is making it difficult for educational institutions to keep
up with the changes and provide the necessary training to accounting professionals".

The complexity is leading to a decline in the number of individuals pursuing a career in

accounting academia, which is affecting the availability of qualified professionals. To add up
in the statement, the shortage of resources and funding for accounting education is also a
factor affecting the availability of accounting professionals in the academic field. According
to a study by the Association to Advance Collegiate Schools of Business (AACSB) (2019),
"Many educational institutions lack the necessary resources and funding to attract and retain
qualified accounting faculty". The study also found that the shortage of funding is affecting
the quality of accounting education and training, leading to a decline in the number of
individuals pursuing a career in accounting academia.

The availability of accounting professionals in the academic field is a significant challenge

that seeks to be addressed. The shortage of qualified professionals, lack of diversity,
increasing complexity of accounting standards and regulations, and shortage of resources and
funding are factors that are affecting the development of the accounting profession. A study
is essential in conducting a comprehensive study towards the factors affecting the availability
of accounting professionals in the academic field to identify potential solutions and ensure
the quality of accounting education and training.

STATEMENT OF THE PROBLEM

The general problem of the study is to determine the factors that affects the availability of
accounting professionals and to identify which factors causes the lack of accounting
professionals the most in terms of offering their services in the academic field of
Accountancy.
Specifically, the study seeks to answer the following:

1. How may the respondents be described in terms of their:

1.1. Biological identity
1.2. Year in which the professionals earned the degree
1.3. Years of rendering services in the business industry
2. What are the factors that may have affected their availability in terms of:
2.1. Salary satisfaction
2.1.1. Current income
2.2. Time opportunity
2.3. Modality of learning
3. How may the availability of accounting professionals be relevant to the academic
field?
3.1. Span of Employment
3.2. Working requirements
3.3. Job security
3.4. Work environment
FACTORS AFFECTING THE AVAILABILITY OF ACCOUNTING PROFESSIONALS
TOWARS ACADEMIC FIELD

4. Is there a significant indicator that there is a significant factor which affects the
availability of accounting professionals in the academic field?
5. What are the possible implementations that may resolve the lack of accounting
professionals in the academic field of accounting?

SIGNIFICANCE OF THE STUDY

The findings of the study may provide a more analyzed insight to the:
School administrators. The study will enable the administration to acquire enough
knowledge regarding the lack of accounting professionals that teach accountancy and as to
how they may be able to resolve the problem. The aim of the study is to distinguish distinct
factors that drive the motivation of accounting professionals in engaging to the academic
field. Therefore, the indications of the study may help the administration to assess which area
needs improvement to lure the accounting professionals to work with them.
Accounting professionals. This study may provide insights towards the perception of
accounting professionals in the academic field of accounting. The results may be a basis for
the accounting professionals to consider working in the education department.
Learners. The study aims to identify an underlying issue that results in the lack of teaching
professionals in accountancy. This study may be used as a basis for improvement that will
benefit the students the most. The study will provide enough information to assess the lack of
accounting professionals in the learning system and may be a basis for improvement in the
academy.
Community. The study may provide information that suggests improvements in the
community. If data are acquired factually, the research will enable an innovation in the
learning system of accounting as a profession.
Future researchers. This study may be a basis of another study.

SCOPES AND DELIMITATIONS OF THE STUDY

The aim of the study is to identify the factors that affect the availability of accounting
professionals in rendering their services to the academic field of accountancy.
The study will be held limited to the four (4) campuses of Balanga Bataan that offers
Accountancy course. The respondents of the study will be the accounting professionals that
have been engaged in the academic field, either still teaching, has considered working in the
education sector, or has been and quitted the job.
The Bataan Heroes College, Thomas del Rosario College, Asia Pacific College of Advanced
Studies, and Bataan Peninsula State University are the areas where the study will be held. The
researchers will seek accounting professionals that have been engaged in the above-
mentioned campuses.