Identified Competency Focus Areas and Selected Courses

for National Exit Examination

Program: Bachelor of Arts in Accounting and Finance

Compiled by: Bizuneh Girma (Addis Ababa University)

Haymanot Alemayehu (Jimma University)

July , 2022
Addis Ababa
Ethiopia

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Contents
1. Introduction.................................................................................................................................................................. 3
2. Expected Profiles of Graduates ............................................................................................................................. 5
3. Competencies and Learning outcomes .............................................................................................................. 6
3.1 Competencies ...................................................................................................................................................... 6
3.2 Learning outcomes ............................................................................................................................................ 8
4. Courses to be included in the Exit Examination ............................................................................................. 9
5. Exit Exam Administration ......................................................................... Error! Bookmark not defined.
6. Conclusion ..................................................................................................................................................................... 9

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1. Introduction
As profession, accounting had emerged following the ever-increasing needs of mankind in the
social, economic, and business environment. The accounting profession has shown a continuous and
tremendous growth in the business world. In the existing organizational dynamics and global
integrations, the importance of vibrant accounting and finance professionals is indisputable.

Different countries in general, and Ethiopia, in particular host various organizations: private,
governmental, profit making, non-profit making, service, manufacturing organizations, etc. The
business world is becoming increasingly complex and is facing new and greater challenges
continually. The accounting and finance profession, a key profession in modern business society,
will have to meet these challenges. Given the volatility of events, the accounting and finance
education program needs to provide new skills and knowledge to accounting and finance graduates
who enter the profession.

This program is designed to prepare students for careers in accounting and finance in all economic
sectors such as business, not-for-profit, and government organizations. The major areas of
accounting and finance study are financial accounting, accounting information systems and
information technology, cost and managerial accounting, public finance with focus on tax,
accounting for public sector and civic society, Finance, and auditing and assurance services. In
addition to the above-mentioned input of the program, it combines and applies several supporting
subject fields including law, quantitative techniques and economics pertinent to the accounting and
finance agenda.

The revised curriculum constitutes modules and courses carefully designed to transform the teaching
and learning approach to competence-based teaching/learning approach to help students to achieve
the required learning outcomes that suit the need of labor market in particular and the development
need of the country at large.

There should be an intervention mechanism to evaluate whether the students have attained the
required competencies with the desired knowledge, skill and attitude through comprehensive
assessment of learning apart from the common grade (CGPA) based assessments on course-by-
course basis. Providing exit exam is regarded as one of the best interventions mechanisms to check

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 whether students achieved the desired level of competency and learning outcome with appropriate
knowledge, skill and attitude. As noted by MoE (2022)1, exit exam is supposed to measure the
learning outputs of a program not the individual course so as to assess students’ overall
understanding of their educational experience. Hence, competence based comprehensive
examination/s are conducted up on the completion of bachelor’s degree.

To this end, the Ethiopian Ministry of Education has revealed a strategy to introduce exit exams in
undergraduate university programs from 2015 E.C (2022/23 G.C) Academic year. The aims of exit
exam, among others are:
 To ensure that all first-degree graduates achieve the required learning outcome and hence
meet the graduate profile of the curriculum.
 To produce skilled and competent manpower to local, national and international market.
 To create conducive environment for stakeholders for their proper engagement in graduates’
competency assessment.
 To raise student achievement and improve the quality of education.
 To institutionalize a system of accountability and transparency through which students,
instructors, HEIs, and academic leaders can be measured for their success and failure based
on the student outcomes.
 To ensure improvements of the quality of education and effectiveness of academic programs
and institutional performance.
 To provide a platform as a quality monitoring tool in the form of certification of competence
for employment.
 To force HEIs to focus their time and resources on low-achieving students they previously
ignored.
 To encourage competition and transparency through exit exam that can raise the declining
quality of education and provide the chance for restoring the confidence in higher education
system.

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A document prepared and presented by Seid Mohammed, from MOE, in the conference held to set
competencies and identify courses for exit exam, on July 18, 2022, Bishoftu, Ethiopia
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 With this aim and given the graduate profile, core competency areas based on which exit exam is to
be provided for the bachelor’s degree in accounting and finance are identified with the desired
learning outcomes expected from graduates. The competencies are developed in such a way that the
exit exam assessment ensure whether the graduate of accounting and finance student possess the
desired knowledge, skills and attitude.

Accordingly, 15 major courses that are offered to students of Accounting and Finance at various
levels throughout their stay at university are identified under five major thematic areas based on the
required learning outcomes. The identification of major themes was done by considering the desired
core competencies.

The five major thematic areas on which the exit exam will be based are:
I. Financial Accounting and Reporting
II. Cost and Managerial Accounting
III. Corporate Finance and Financial Institutions
IV. Auditing and Assurance Services
V. Taxation and Public Sector Accounting

The content of the exams are determined based on the competencies and learning outcomes that
graduates are expected to achieve. Therefore, this guideline provide the expected profile of the
graduate, the detail core competency areas and learning outcomes, the thematic areas and the list of
major courses to be included in the exit exam under each thematic area.

2. Expected Profiles of Graduates

Upon graduation from the program, the graduate from BA degree in accounting and finance should
have accounting and finance knowledge and understanding that enable them to:

 Analyze business events, recognize, measure economic transactions, design accounting

information systems and prepare financial reports in accordance with international Financial
Reporting Standards (IFRS);

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  Audit financial statements and the underlying accounting systems, controls and records, and
express an independent professional opinion about them as per International Standards for
Auditing (ISA);
 Identify, measure, gather, analyze, interpret and communicate cost and other types of
information to management for planning, control, performance measurement, and decision
making related to pricing, operating, investing, and financing activities;
 Account transactions and events, and prepare financial statements for not-for-profit
organizations as per International Public Sector Accounting Standards (IPSAS) and prepare
tax return and perform tax plan.
 Manage financial resource and risk exposures of business firms, manage financial
institutions, analyze investment opportunities and execute professional services in
investment institutions, brokerage & dealer firms and in investment banks;

3. Competencies and Learning Outcomes

The program of Accounting and Finance aims to help the graduates to demonstrate desired
knowledge, skills and attitudes in the area of accounting, auditing and finance practices through
student–centered high quality, viable programs which are fully recognized by both the private and
public institutions in Ethiopia and internationally. Hence, the BA degree program in Accounting and
Finance is designed to help learner to achieve the following competencies and learning outcomes:

3.1 Competencies
Knowledge Aspects
 Describe essential facts, concepts, principles and theories relating to Accounting and Finance;
 Comprehend knowledge of theory, language and tools that are used for specification, design,
implementation, evaluation and management of accounting systems;
 Conceptualize professional, moral and ethical principles in Accounting, Auditing and Finance.
 Describe various Ethiopian tax laws;

Skill Aspects

 Design and implement financial accounting and reporting system in line with both the
international rules and national laws;
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  Design and implement an accounting system that would enable to identify, measure, interpret
and communicate cost and managerial accounting information for decision makers in a
manner that helps to determine and control the costs of their goods and services;
 Evaluate the economic/financial viability of investment decisions (both short-term and long-
term investment projects) for all types of organizations;
 Design and run effective internal control systems;
 Audit financial statements and the underlying accounting systems, controls and records, and
express an independent professional opinion as per international standards for auditing (ISA)
and other relevant rules and regulations and take part in preparing audit reports;
 Design and implement effective and efficient accounting systems to account for transactions
and events related to public sector and civil society organizations; prepare and interpret
financial reports for such organizations as per international public sector accounting
standards and other applicable rules and laws;
 Prepare tax returns for the tax payers and conduct tax assessment and manage tax revenue for
the government as per the applicable tax proclamations, regulations and directives.

Attitude Aspects

 Be able to work ethically as a member of a professional associations;

 Recognize and be guided by the social, professional, and ethical issues involved in auditing and
preparation of financial statements;
 Judge ethically, think logically, reason critically, and make professional judgments in Accounting
and Finance;
 Value integrity and professional ethics in carrying out assigned activities;
 Internalize an appreciation for the role of ethics in both the profession and the business world;
 Develop time-management, work-planning skills and be prepared for graduate studies,
professional certification and advanced trainings in accounting, auditing, finance and
management

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3.2 Learning Outcomes
 Students will be able to know commonly used financial statements, their components and
how information is organized from the business transactions to generate these financial
reports.
 Students will be able to demonstrate knowledge of preparation of financial statements or
financial schedules and disclosures in accordance with the requirement of International
Financial Reporting Standards (IFRS) through synthesis of information.
 Students will be able to demonstrate knowledge in setting up the appropriate accounting
information system for entities.
 Students will be able to demonstrate progressive learning in the elements of managerial
decision making, including planning/budgeting, directing and controlling/performance
evaluation activities in business environment from the cost and managerial accounting
knowledge and skills acquired.
 Students will be able to demonstrate appropriate knowledge and progressive learning to
Audit financial statements and the underlying accounting systems, controls and records, and
express an independent professional opinion as per international standards for auditing (ISA)
 Students will be able to demonstrate progressive learning of various tax issues and applicable
tax laws and regulations.
 Students will be able to acquire progressive knowledge and skills in managing financial
resource and risk exposures of business firms, managing financial institutions, in analyzing
investment opportunities and executing professional services in investment institutions,
brokerage & dealer firms and in investment banks.
 Students will be able to demonstrate progressive professional values and business ethics at
organizational and societal level.
 Students will be able to demonstrate high professional ethics related to accounting within a
global ethical framework
 Students will be able to learn relevant financial accounting career skills, applying both
quantitative and qualitative knowledge to their future careers in business.
 Students will learn relevant managerial accounting career skills, applying both quantitative and
qualitative knowledge to their future careers in business.

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  Students will demonstrate the development of information technology skills, including but not
limited to the use of: the Internet, online learning management platforms, Spreadsheet
software, accounting and income tax software, and/or online accounting homework systems.

4. Courses to be included in the Exit Examination

The following Major courses are selected among each thematic areas of the subject matter.

Course ECTS/
Thematic Areas Course Code Courses to be included
Credit
1. Financial Accounting AcFn2011 Fundamentals of Accounting I 6 4
and Reporting AcFn2012 Fundamentals of Accounting II 6 4
AcFn3021 Intermediate Financial Accounting I 6 4
AcFn3022 Intermediate Financial Accounting II 6 4
AcFn4101 Advanced Financial Accounting I 5 3
AcFn4102 Advanced Financial Accounting II 6 4
43% Sub-Total 35 23
2. Cost and Managerial AcFn3031 Cost and Management Accounting I 5 3
Accounting AcFn3032 Cost and Management Accounting II 5 3
12% Sub-Total 10 6
3. Corporate Finance AcFn3041 Financial Management I 5 3
and Financial AcFn3042 Financial Management II 5 3
Institutions
AcFn3081 Financial Markets and Institutions 6 4
21% Sub-Total 16 10
4. Auditing and AcFn4061 Auditing Principles and Practices I 5 3
Assurance Services AcFn4062 Auditing Principles and Practices II 5 3
12% Sub-Total 10 6
5. Taxation and Public AcFn4091 Public Finance and Taxation 5 3
Sector Accounting AcFn3071 Accounting for Public Sector and Civil Society 5 3
12% Sub-Total 10 6
Total 81 51

5. Conclusion
Providing Exit exam is regarded as one of the best intervention mechanisms to check whether students
achieved the desired level of competency and learning outcome with appropriate knowledge, skill and
attitude. The MOE has planned to conduct competence based comprehensive exit exam on completion
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of Bachelor Degree in 2015 E.C with the aim to enhance student achievement and improve the quality of
education and to produce skilled and competent manpower to local, national and international market; to
create conducive environment for stakeholders for their proper engagement in graduates’ competency
assessment; to institutionalize a system of accountability and transparency through which the holistic
performance of students, instructors, academic leaders and HEIs, can be measured based on the student
outcomes and to encourage competition through exit exam that can raise the declining quality of
education and provide the chance for restoring the confidence in higher education system, among others.

Accordingly as set out in this guideline, 15 core courses are identified to be included in the exit exam
under five thematic areas with the appropriate weight provided for each theme. The courses are selected
by considering the profile of the graduate, the core competencies and learning outcomes to be achieved.
It is also worth noting that the core competencies and thematic areas are designed by considering the
major areas in accounting and finance as provided in the revised curriculum. Nevertheless, it should be
noted that this is not static and hence subject to modification to accommodate the dynamic needs.

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 Ministry of Education

Higher Education Development sub-sector

Competency and core course identification Validation Workshop for national Exit Examination

Participants’ List

Nehassie 05-06/2014 E.C (August 11-12/2022 G.C)

Band: - 5

Program: - Accounting and Finance

S. No. Name of Participant University Role in the

Workshop
1. Mr. Bizuneh Girma Addis Ababa University Writer
2. Ms. Haymanot Alemayehu Jimma University Writer
3. Mr. Birhanu Alemu Wolaita Sodo University Validator
4. Mr. Hailemichael Wolde Select College Validator
5. Mr. Molalign Tiahun Select College Validator
6. Mr. Netsanet Belay Debremarkos University Validator
7. Dr. Temesgen Worku (PhD) Addis Ababa University Validator
8. Mr. Tesfahun Kumlachew Admas University Validator
9. Mr. Tesfaye Ginbare Jimma University Validator
10. Mr. Workagegnehu Tamene Admas University Validator
11. Mr. Yosef Tadesse Debrebirhan University Validator
12. Mr. Zewdie Bezabih Unity University Validator

Coordinated by: - Approved by: -

Date: - Date: -

Signature: - Signature: -

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