Accounting Education

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The soft skills of accounting graduates:

perceptions versus expectations

Valentina Dolce, Federica Emanuel, Maurizio Cisi & Chiara Ghislieri

To cite this article: Valentina Dolce, Federica Emanuel, Maurizio Cisi & Chiara Ghislieri (2019):
The soft skills of accounting graduates: perceptions versus expectations, Accounting Education,
DOI: 10.1080/09639284.2019.1697937

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ACCOUNTING EDUCATION
https://doi.org/10.1080/09639284.2019.1697937

The soft skills of accounting graduates: perceptions versus

expectations
a,b c
Valentina Dolce , Federica Emanuel , Maurizio Cisid and Chiara Ghislieria
a
Department of Psychology, University of Turin, Torino, Italy; bLISEC, Laboratoire Interuniversitaire des
Sciences de l’Éducation et de la Communication, Université de Haute-Alsace, Mulhouse, France; cDepartment
of Philosophy and Education Sciences, University of Turin, Torino, Italy; dDepartment of Management,
University of Turin, Torino, Italy

ABSTRACT ARTICLE HISTORY

In recent years, changes in business, new technology, and greater Received 24 January 2019
competitiveness and dynamism have all resulted in a need for Revised 6 June 2019; 18
new skills. This study focuses on soft skills in accounting September 2019; 31 October
education, exploring the viewpoints of both graduates and 2019
Accepted 24 November 2019
employers. Our main question is to better understand if there is a
right match between graduates’ perceptions and companies’ KEYWORDS
expectations of the skills that are needed. 251 Italian graduates Soft skills; accounting
(Department of Management) and 74 Italian joint-stock graduates’ perceptions;
companies completed a self-report questionnaire. Graduates employers’ expectations;
attributed a higher level of importance to the following macro- technical skills
areas of skills: task orientation, motivation, self-awareness,
valorisation, and interpersonal relationships. Graduates, compared
to companies, underestimated the importance of other soft skills
and one specific technical skill, and overestimated other technical
skills. Graduates’ views are partially in accordance with employers’
views; accounting education still needs to progress and the
engagement of academics is fundamental to enhance the skills
required by employers.

Introduction
Technical skills, also known as hard skills, have played a leading role in business for a long
time; today, however, they do not seem to be sufficient to effectively address the challenges
of the labour market (Andrews & Higson, 2008; Moore & Morton, 2017; Robles, 2012).
The International Education Standards (IES) prescribe an appropriate mix of skills for
candidates to succeed as professional accountants. The required professional skillset con-
sists of intellectual skills, technical and functional skills, personal skills, interpersonal and
communicative skills, and organisational and business management skills (International
Accounting Education Standards Board, IAESB, 2014). This range of skills is also used
by professional bodies such as Chartered Accountants Australia and New Zealand
(CAANZ) and CPA Australia to define professional accreditation guidelines (CPA,
2018). A combination of different skills is also recommended by the American Institute
of Certified Professional Accountants (AICPA). These skills are grouped under the

CONTACT Federica Emanuel [email protected]

© 2019 Informa UK Limited, trading as Taylor & Francis Group
2 V. DOLCE ET AL.

following three pillars: accounting competencies (e.g. risk assessment analysis and man-
agement), business competencies (e.g. process and research management) and pro-
fessional competencies (e.g. decision-making, communication and collaboration)
(AICPA, 2018). Italian accounting standards are in line with those defined by the Inter-
national Federation of Accountants (IFAC). In Italy, the requirement to qualify as a pro-
fessional accountant is a degree awarded by the Department of Management combined
with an 18-month traineeship (Veneziani, Teodori, & Bendotti, 2016).
Although, in general, compliance with the IAESB, as showed by Crawford, Helliar, Monk,
and Veneziani (2014), in practice there is not often any real alignment with the IES. In
addition to recommendations of international professional organisations, academic scholars
have recently discussed this subject in depth (Apostolou, Dorminey, Hassell, & Rebele,
2018). Some authors have paid attention to the gap between the competencies expected
by employers and those actually possessed by accounting graduates (Arquero Montano,
Donoso, Hassall, & Joyce, 2001; Bui & Porter, 2010; Chaffer & Webb, 2017; Howcroft,
2017; Jones, 2014). Therefore, attempts on behalf of researchers to identify the knowledge
and abilities required are particularly valuable. These studies may also support the expec-
tations formalised in the Bologna 2020 process (2009), providing higher education insti-
tutions with scientific evidence useful to enhance graduate employability.
Training programmes and evaluation tools represent a challenge for higher education
institutions that seek to reinforce and monitor the development of soft skills or ‘pro-
fessional skills’, that are interpersonal qualities and personal attributes useful for academic
performance and success in personal and professional life (Muzio, Fisher, Thomas, &
Peters, 2007; Gibb, 2014; Ingols & Shapiro, 2014; European Commission, 2018; Ricchiardi,
Ghislieri, & Emanuel, 2018; Ricchiardi & Emanuel, 2018).

Contribution
This study explores the viewpoints of both graduates and employers, by encouraging a
reflection on soft skills topic. Our main question is to better understand if there is a poss-
ible match between graduates’ perceptions and companies’ expectations, in order to con-
tribute to an academic education consistent with the expectations of the labour market. In
particular, research in Italy in this area is sparse (Luzzatto, Mangano, Moscati, & Pieri,
2012; Luzzatto, Moscati, Mangano, & Pieri, 2015; Ricchiardi & Emanuel, 2018; Ricchiardi
et al., 2018) despite its relevance being recognised in Australia, New Zealand, UK and USA
(Stephenson, 2017). Further, this research focuses on accounting graduates rather than
accounting students; overall data confirmed the relevance of this study path in relation
to the workplace.
To answer to the main question, this study, firstly, analyses the presence of discrepan-
cies between the graduates’ estimation of importance and the self-evaluation regarding
some soft skills and technical skills and, secondly, investigates if graduates’ perceptions
of the importance attributed to specific skills and knowledge are in line with those of
the company.
The main practical implication of this study is, on the one hand, to provide general
guidelines useful for academic institutions, in order to improve academic curricula and
better meet employers’ requirements and, on the other hand, enhance awareness in stu-
dents about the skills estimated important by employers.
 ACCOUNTING EDUCATION 3

Furthermore, this study contributes to the existing knowledge base of skills required by
Italian candidates to cover accounting roles. Unlike previous studies, the perception of
graduates was considered in order to monitor their awareness of actual company
requirements.
The interest in this topic is also a result of the demand of Department of Management
graduates (which includes graduates in accounting) on the Italian employment market.
According to AlmaLaurea data (2017), one year after completing a Master’s degree, in
the Department of Management of an Italian University in which this study was con-
ducted, only 72% of graduates had a job, and 34% of these had fixed-term contracts. In
2017, of those employed, 21% were employed in the industrial sector and 76% in services
(31% in consultancy and 17% in the insurance and credit sector). Differently from pre-
vious studies, this paper simultaneously focused on the graduates’ estimation of impor-
tance and the self-evaluation as well as on the company’s expectations providing
comparison on diverse levels.
The remainder of the paper is structured as follows: the next section describes the rel-
evant theoretical frameworks concerning soft skills. The section also summarises the lit-
erature pertaining to accounting education, which examines the professional skills
expected and describes hypotheses. The third section describes the sample, explains the
procedure adopted for this study, details the measures used in the questionnaire and,
lastly, illustrates the type of data analysis performed. The fourth section outlines the
results. The paper concludes with a discussion of the findings, implications for practice,
limitations and suggestions for further research.

Theoretical Framework of Soft Skills

Due to the increasing complexity of the labour market, soft skills have become more impor-
tant for current employment-related challenges, academic success and personal develop-
ment, and not only in the field of professional accounting (Andrews & Higson, 2008;
Chamorro-Premuzic, Arteche, Bremner, Greven, & Furham, 2010; Heckman & Kautz,
2012; Kechagias, 2011; Kember, Leung, & Ma, 2007; Mitchell, Skinner, & White, 2010;
Ritter, Small, Mortimer, & Doll, 2018; Robles, 2012; Winstead, Adams, & Sillah, 2009).
If hard skills can be defined as technical abilities specific to a professional sector
(Robles, 2012), defining soft skills is more challenging for a host of reasons. Firstly, for
semantic reasons: often adjectives such as ‘generic’, ‘key’, ‘basic’, ‘personal’ and ‘transfer-
able’, and ‘vocational’ are used instead of ‘soft’; and, the term ‘skills’ is often replaced by
notions such as ‘competences’, ‘attributes’, ‘qualities’ and ‘capabilities’ (Bennett, Dunne, &
Carré, 1999; Chamorro-Premuzicet al, 2010; Kechagias, 2011; Leveson, 2000).
Secondly, soft skills consist of an extensive list of abilities, ranging from operational to
interpersonal (Bennett et al., 1999; Chamorro-Premuzic et al., 2010): these include, but are
not limited to, communication skills, teamwork, good decision-making, problem-solving,
conflict management, working under pressure, empathy and critical thinking (Bennett
et al., 1999; Chamorro-Premuzic et al., 2010; Luzzatto et al., 2012; Ritter et al., 2018;
Robles, 2012).
Thirdly, soft skills may be conceptualised as qualities useful to enhance graduates’
quests for lifelong personal development, to promote global citizenship and interest in
4 V. DOLCE ET AL.

social good, and to increase employability (Andrews & Higson, 2008; Kavanagh &
Drennan, 2008; Jackson, 2013).
In order to address this inherent complexity, several models have been developed over
the years (Andrews & Higson, 2008; Bennett et al., 1999; Chamorro-Premuzic et al., 2010;
Cimatti, 2016; Gallivan, Truex, & Kvasny, 2004; Heckman & Kautz, 2016; Luzzatto et al.,
2015; Mangano, 2014; Robles, 2012).
In 2004, Gallivan et al. analysed the trends of required skills for IT professionals and
identified the following six subcategories for non-technical skills: communication, inter-
personal skills, leadership, organisation, independence, motivation and creativity. In
1999, Bennett et al. (1999) had distinguished four broad management skills underlying
more generic skills, namely the management of self, of others, of information and of
tasks. The management of self includes skills such as time management, coping strategies,
planning skills, etc. Some examples relating to the management of others are the ability to
give feedback, to lead a group, and to respect the views and values of others. The manage-
ment of information concerns the use of appropriate media and other supports or devices,
but also a critical approach. Finally, the management of tasks relates to identifying key fea-
tures, organising tasks into sub-tasks, identifying alternative strategic options, and asses-
sing outcomes. Thereafter, Heckman and Kautz (2012; 2016) focused on personality,
referring to the ‘Big Five’ factors: openness, conscientiousness, extraversion, agreeableness
and emotional stability (Costa & McCrae, 1992).
Starting from Bennett et colleagues’ four-factor model (1999), and Heckman and
Kautz’s framework (2012; 2016), a model was developed by the University of Turin to
monitor and promote soft skills and, also, to enhance students’ professional readiness
and academic success (Ricchiardi et al., 2018; Ricchiardi & Emanuel, 2018). This model
examined soft skills and distinguished the following four macro-areas: task orientation,
self-awareness and valorisation, motivation and interpersonal relationships.
Firstly, if we refer specifically to Bennett and colleagues’ framework (1999), task orien-
tation includes the ability to set and maintain priorities through time management and to
use suitable work and study spaces to stay focused (Claessens, Van Eerde, Rutte, & Roe,
2007), the ability to solve problems, to make decisions and to identify different strategies
in complex situations in which rational and critical thinking becomes necessary to achieve
goals (Simon et al., 1987; Nijhuis, Segers, & Gijselaers, 2008).
Secondly, skills that relate to self-awareness are emotional self-regulation, proactivity
and self-valorisation. Specifically, emotional self-regulation largely concerns the recog-
nition of both one’s own and others’ feelings and the ability to express them (Bar-On,
2006; Di Pietro, 2016). As stated above, soft skills do not only apply to a specific pro-
fessional field: in this respect, as suggested by Molino and colleagues (2018), emotional
self-regulation has a relation with entrepreneurial intention mediated by general self-
efficacy. Proactivity is the ability to act without request, show initiative, change situations
and display adaptability (Trifiletti, Capozza, Pasin, & Falvo, 2009). Self-valorisation is the
ability to reflect, accept oneself and give value to one’s own attributes, knowledge and com-
petences, emotional self-regulation and proactivity.
Thirdly, motivation refers to objective guidance, locus of control and resilience. More
precisely, objective guidance is the ability to focus emotional and cognitive resources in
order to achieve a goal (Borgogni, Petitta, & Barbaranelli, 2004). Locus of control,
instead, is defined as a consolidated attitude towards explaining events and facts and to
 ACCOUNTING EDUCATION 5

finding causes and responsibilities. If the tendency to explain situations is largely based on
one’s own behaviours, then internal locus of control prevails. If situations are mainly
explained by factors beyond our control, such as fate or destiny, then external locus of
control prevails (Rotter, 1966). Resilience is related to one’s attitude when facing difficul-
ties and maintaining self-confidence; it helps to transform difficult situations, crises and
conflicts into opportunities for change (Connor & Davidson, 2003; Di Fabio & Palaz-
zeschi, 2012).
Lastly, there are interpersonal skills, defined by Bennett et al. (1999) as the skills useful
to manage other and co-exist harmoniously with others. The ability to work in a team, that
is to be cooperative, agreeable, supportive and helpful (Robles, 2012), is an example of
strong interpersonal skills. The ability to effectively communicate at all levels (Robles,
2012), to manage conflict, to understand and cope with relational issues (Merlone,
2015; Wall & Callister, 1995), and to lead collaborators, are other examples.
The list above is extensive but not exhaustive. Based on the interests of their research,
authors select and focus on specific skills. In this respect, for example, Bennett et al. (1999)
focused on skills related to information management, such as the conscious and critical
use of media and technology.

The Expectation-Performance Gap in Accounting Education

A relevant question is how much these skills are developed at university. There has been
much debate, particularly in some countries, regarding the set of professional skills
required by management accountants in order to modify accounting curricula and
develop skills (Arquero Montaño et al., 2001; Hassall, Joyce, Montano, & Anes, 2005;
Howcroft, 2017; Pratama, 2015; Tan & Laswad, 2018).
Some studies in accounting show the presence of different expectations on behalf of
employers and educators regarding the skills accounting graduates should possess (Bui
& Porter, 2010; Howcroft, 2017; Pratama, 2015). For instance, Howcroft (2017) explored
the conflicting views between practitioner employers, university educators and the Char-
tered Institute of Management Accountants (CIMA), and cited the problem of the increase
in student numbers and the consequent deterioration of staff-to-student ratios and there is
a concentration on technical knowledge rather than vocational skills, such as critical
thinking and problem-solving skills.
Similarly, in Indonesia, Pratama (2015) concluded that there is a gap between the
expectations of accounting academics and practitioners. Academics privilege the acqui-
sition of theoretical concepts, while practitioners place more emphasis on practical
experience.
Very little research considers graduates’ expectations. An example of this research was
conducted by Kavanagh and Drennan (2008) on a sample of employers and accounting
students whose findings showed that many non-technical skills are not being developed
sufficiently. Although employers attribute importance to soft skills and not just to techni-
cal skills, graduates report that these competences were not well taught on their accounting
courses at university. Furthermore, graduates felt that their degree did not meet the
demands and needs of the labour market and may be widespread across the globe (Tom-
linson, 2008). In recent years, researchers have highlighted discrepancies between work-
place demands and academic training in different fields, not only in accounting
6 V. DOLCE ET AL.

(Andrews & Higson, 2008; Harvey, Moon, & Gheall, 1997; Hernández-March, Martín del
Peso, & Leguey, 2009). Starting from this evidence, out first hypothesis is:
Hypothesis 1. Graduates attribute a higher level of importance to soft skills compared to their
perceptions to how much they possess them.

As regards the possible gap between graduates’ perceptions and employers’ expec-
tations of technical and soft skills, Kavanagh and Drennan (2008) found that accounting
students are only partially aware of employers’ expectations. Although Gabric and McFad-
den (2001) do not specifically refer to accounting but to business in general, their study
also confirmed a partial communality between students and employers too, in terms of
the importance attributed to general business skills. Thus, our second hypothesis is:
Hypothesis 2. Graduates’ perceptions of the skills needed by employers only partially
matches employers’ expectations.

Soft skills have been examined in a variety of ways in different fields (Andrews &
Higson, 2008; Moore & Morton, 2017; Robles, 2012; Ritter et al., 2018). As stated
above, many international professional organisations (CIMA, AICPA, IFAC) recommend
an appropriate mix of skills, which includes soft skills. More precisely, Arquero Montanoet
al. (2001), in a study involving the Chartered Institute of Management Accountants
(CIMA) in the UK, concluded that employers perceive deficiencies in communication
skills, group working, problem-solving and time management. Considering the current
key role played by soft skills and the evidence in the accounting literature, we hypothesise
that:
Hypothesis 3. Employers often prioritise soft skills over technical ones.

Hassall et al. (2005) found that Spanish and UK employers ranked the importance of
skills and knowledge differently. Items relating to communication skills were ranked
higher by UK employers; items relating to strategic skills (such as having a comprehensive
and global vision of the organisation) were ranked higher by Spanish employers. Despite
these differences, there is a common, generally accepted recognition of the importance of
non-technical skills and knowledge for the accounting curricula. Similarly, Tan and
Laswad (2018) showed the presence of differences between Australian and New
Zealand job advertisements, but in both cases, personal and interpersonal skills were
emphasised.
Among soft skills, teamwork received particular attention (Gibert, Tozer, & Westoby,
2017; Goltz, Hietapelto, Reinsch, & Tyrell, 2008; Halfhill & Nielsen, 2007; Kemery & Stick-
ney, 2014; Ritter et al., 2018). This interest is supported by the fact that teamwork is an
attribute that employers particularly wish for, as reported by Ritter et al. (2018). Com-
munication skills also seem to be relevant to employers (Leveson, 2000). These consider-
ations are corroborated by the rankings of the National Association of Colleges and
Employers (NACE, 2016), in which the ability to work in a team and to communicate
(both orally and in written form) are recognised as being among the most frequent attri-
butes sought in a resume (Ritter et al., 2018).
As regards the accounting field, Kennedy and Dull (2008) stressed the importance of
transferable team skills for accounting students; this is emphasised by the Accounting
Education Change Commission (1990) and also Avery’s work (2001). The ability to
 ACCOUNTING EDUCATION 7

work collaboratively and to use appropriate communication seem to be industry expec-

tations (e.g. DeLange, Jackling, & Gut, 2006; Morgan, 1997; Kavanagh & Drennan,
2008; Siriwardane & Durden, 2014). In consideration of this evidence pertaining to inter-
personal skills, we hypothesise that for Italian employers:
Hypothesis 4. Teamwork and communication skills are considered to be among the most
sought-after skills.

Method
Participants and procedure
This study involved 251 graduates at the Department of Management from a university in
north-west Italy and 74 Italian joint-stock companies. As regards the graduates’ sample
(Table 1), participants were aged 21–34 years (M = 25.22; SD = 2.05), 54.6% of them
were female. The sample consisted of students who had graduated between 2015 and
2016, 33% of whom were bachelor’s graduates whilst 67% were master’s graduates. The
questionnaire was sent to all students graduated in 2015 and 2016 (around 1600 students)
from the Department of Management of the Italian University, the response rate was 15%.
29.9% of subjects of sample were looking for a job, 52.6% worked, 18% were studying and
only 1.6% did not work or study. Among the employed participants, 74% worked in a
company, 19% in a private practice, 4% were self-employed, 2% in public administration
and 1% in co-operative societies.
As regards the company sample (Table 2), all were joint-stock companies with regis-
tered offices in Italy, 92% of whom were located in North Italy and 8% in Central Italy.
54% belonged to the manufacturing sector, 19% to the information and communi-
cation field, 8% offered professional, scientific and technical services, 5% serviced the
travel and rental sectors, 3% were in the insurance and credit sector and 3% offered
wholesale trade services/retail trade or automotive repair services (8% belonged to
other sectors). 22% of enterprises had less than 50 employees, 32% had between 50
and 250 employees, 18% between 250 and 500 employees, 16% had between 500
and 1000 employees and, finally, 12% had more than 1000 employees. This sample,
therefore, mainly represents medium and large businesses. In 2016, 12% of the enter-
prises declared a turnover of less than EUR 10 million, 41% between 10 and 50 million,
14% between 50 and 100 million, 25% between 100 and 500 million and 8% declared
more than 500 million.

Table 1. Graduates descriptive data (n = 251).

Gender %
Female 54.6
Male 45.4
Age %
21–23 16.3
24–28 77.3
29–34 6.4
Occupational condition %
Employed 52.6
Looking for a job 29.9
Students 18
Neither employed nor in education 1.6
8 V. DOLCE ET AL.

Table 2. Companies’ descriptive data (n = 74).

Company Sector %
Manufacturing 54
Information and communication 19
Professional, scientific and technical services 8
Services of support companies, travel agencies, rental 5
Insurance and credit 3
Wholesale trade services/retail trade or automotive repair services 3
Other 8
Total 100
Employees %
<50 22
50–250 32
250–500 18
500–1000 15
>1000 12
Total 100
Sales volumes %
<10,000,000 € 12
10,000,000–50,000,000 € 41
50,000,000–100,000,000 € 14
100,000,000–500,000,000 € 25
>500,000,000 € 8
Total 100

In 64% of cases, the questionnaire was filled out by human resources or a human
resources employee; 15% of the time, the employee responsible for training completed
the questionnaire, in 7%, the employee responsible for administration completed the
questionnaire, 5% of the time the questionnaire was filled out by the employer and
9% by others. They filled out the questionnaire considering the general new graduates
profile.
Participants completed an online self-report questionnaire on Limes Survey Platform in
the context of a project founded by the CRT Foundation. The voluntary and not paid par-
ticipation to the research and the confidentiality of the data were emphasised in the cover
letter of the questionnaire. The study observed the Helsinki Declaration (World Medical
Association, 2001); since it did not involve medical treatment or other procedures capable
of causing psychological or social discomfort to participants, no further ethical approval
was required. Students and companies were contacted by the Job Placement Office of
the University. The selected companies were those accredited by the University. In
order to contact graduates, the academic mail was used to contact them and send the ques-
tionnaire link.

Measures
The study involved the same scales being administered to both graduates and companies.
For all items, a 5-point Likert scale was used. In particular, in the questionnaire adminis-
tered to companies, firms were asked how many specific technical and soft skills were
important, thinking of graduates (1 = not at all; 5 = completely). On the other hand, the
questionnaires administered to graduates asked them to answer the same items about
technical and soft skills twice. Firstly, the participants were asked to think about the
importance that companies attributed to the skills and knowledge; secondly, they were
asked to evaluate how much they owned these skills.
 ACCOUNTING EDUCATION 9

The measures used in the study were the following:

Soft skills: measured by 12 items (a short version of the tool developed by Ricchiardi
et al., 2018) representing the following competences: time management, problem-
solving and decision-making, the capability to find a suitable solution to deal with a
problem, objective guidance, locus of control, resilience, the ability to work under
stress, self-valorisation, emotional self-regulation, proactivity, the ability to work in a
team, effective communication and conflict management. An example item is: ‘to collab-
orate positively with other people in order to reach a common objective’.
Technical skills: measured by 5 ad hoc items, representing the following competences:
knowledge about a sector from a local perspective, knowledge about a sector from an inter-
national perspective, awareness and specialised skills regarding the professional inte-
gration sector, the ability to use information technology, and the ability to
communicate in both an oral and written way using a foreign language.
Generic skills: measured by 3 ad hoc items, representing the following competences:
public speaking, the ability to respect the cultural norms and procedures of a company,
and the ability to work safely and securely.

Statistical Analysis
The statistic software SPSS 25 was used to perform descriptive data analysis. The normal-
ity assumptions were not met by data; therefore data were tested using non parametric-
test. Wilcoxon test was used to point out possible discrepancies between graduates’ expec-
tations about the importance attributed to specific skills by companies and by graduate’s
perception to own them. Mann–Whitney test was also performed to analyse possible
differences in terms of graduates’ expectations about the importance attributed to
specific skills and knowledge by companies and the effective evaluation of the importance
given to these same skills by companies. In order to monitor a possible relationship
between companies’ dimensions and the skills required, we controlled, using correlation
analyses, the presence of a relationship between the number of employees and the impor-
tance attributed to soft and technical skills.

Results
The results of this study are discussed in this section for each of the hypothesis posed.
Hypothesis 1. Graduates attribute a higher level of importance to soft skills compared to their
perceptions to how much they possess them.

Wilcoxon test showed significant differences in terms of graduates’ expectations of the

skills considered important by companies and perception to possess them (Table 3).
In particular, as regards task skills (time management, problem-solving and decision-
making, adaptive strategies to tackle tasks), a significant difference was found. Specifically,
findings showed a higher level of importance attributed to problem-solving and decision-
making (Mdn = 5.00), than of self-evaluation (Mdn = 4.00), [Z = −6.932, p < .001]. In
addition, for both time management [Z = −5.195, p < .001] and the ability to use adaptive
strategies to tackle tasks [Z = −6.097, p < .001], graduates reported a lower level of percep-
tion to possess it than of importance attributed to it.
10 V. DOLCE ET AL.

Table 3. Wilcoxon test results for soft skills.

Soft skills Z Sign lev.
Problem-solving and decision-making −6.932 .001***
Time management −5.195 .001***
Adaptive strategies to tackle tasks −6.097 .001***
Self-valorisation −1.764 .078
Emotional self-regulation −3.275a .01**
Proactivity −1.915 .055
Objective guidance −1.677 .093
Locus of control −2.232a .05*
Resilience −3.004 .001**
Teamwork −4.682 .001***
Written and oral communication −6.852 .001***
Conflict management −3.098 .001***
*p < .05, **p < .01, ***p < .001; acalculated on negative ranks.

Regarding self-dimension (self-valorisation, emotional self-regulation and proactivity),

emotional self-regulation was the only item that presented a significant difference of
importance attributed to this skill that, contrary to the trend of previous soft skills, was
lower (Mdn = 3.00), than the perception to possess it (Mdn = 4.00) [Z = −3.275, p < .01].
As regards motivational dimension skills (objective guidance locus of control, resili-
ence), the importance attributed to objective guidance (Mdn = 4.00), appeared to be in
line with the self-evaluation (Mdn = 4.00) [Z = −1.667, p = .093].
Instead, as regards locus of control, graduates reported a higher level of possess than of
importance [Z = −2.232, p < .05]; as regards resilience, graduates reported lower level of
perception to possess it than of importance attributed [Z = −3.004, p < .01].
As regards interpersonal relations skills (teamwork, communication and conflict man-
agement), all items appeared to be evaluated with higher level of importance attributed
than of owning. Specifically, graduates’ perception of the importance given by companies
to teamwork ability was higher (Mdn = 5.00) than the evaluation to possess this skill (Mdn
= 4.00). Furthermore, as regards oral and written communication ability [Z = −6.852,
p < .001] and conflict management skills [Z = −3.098, p < .001], graduates reported for
both a lower level of perception to own it than of importance attributed.
For what concerns some technical skills, Table 4 showed the presence of some signifi-
cant differences between the perception of importance attributed to them and the esti-
mation to own them by graduates.

Table 4. Wilcoxon test results for technical and generic skills.

Z Sign lev.
Technical skills
Knowledge about sector from a local perspective −1.316a .216
Knowledge about sector from an international perspective −1.099 .228
Awareness and specialised skills regarding the professional integration sector −2.249 .05*
Ability to use information technology −4.223 .001***
Ability to communicate orally and in writing using a foreign language −8.902 .001***
Generic skills
Ability to public speaking −2.671 .01**
Ability to work in respect of cultural norms and procedures of the company −.051 .960
Ability to work in safety and security −6.145a .001***
*p < .05, **p < .01, ***p < .001; acalculated on negative ranks.
 ACCOUNTING EDUCATION 11

In particular, the findings showed a higher level of importance attributed to aware-

ness and specialised skills regarding the sector of professional integration than of
possess [Z = −2.249, p < .05]. In line with the general trend of other results, ability to
use information technology was evaluated more important than the perception to own
it [Z = −4.223, p < .001]. In addition, the importance attributed to ability in foreign
language use was higher than the possess [Z = −8.902, p < .001].
As shown in Table 4, other generic skills were generally perceived as relevant; compari-
sons between the level of importance attributed and the self-evaluation highlighted signifi-
cant differences. Contrary to the general trend of previous results, ability to work in safety
and security was estimated with higher level of owning than of importance attributed by
companies [Z = −6.145, p < .001].
Hypothesis 2. Graduates’ perceptions of the skills needed by employers only partially
matches employers’ expectations.

Mann–Whitney test was performed to verify possible discrepancies in terms of gradu-

ates’ expectations about the importance attributed to specific skills and knowledge for
companies and the effective evaluation of importance given for these same ones by com-
panies. Globally, no significant relationships emerged between companies’ number of
employees and the importance attributed to soft skills. As shown by Table 5 the impor-
tance attributed to teamwork skill by companies (Mean Rank = 186.52) was higher than
the graduates’ expectations (Mean Rank = 156.07) [U = 7546.500, p < .01].
As regards technical skills (Table 6), a significant difference was found in relation to
ability to use a foreign language; in this case, the findings showed that companies
ranked this as less important (Mean Rank = 188.39) than what graduates perceived it to
be (Mean Rank = = 73.47) [U = 2662.000, p < .001].
No differences were found in relation to knowledge of the sector from either an inter-
national or local perspectives, nor in specialised skills.
For generic skills, as shown by Table 6, the importance attributed to ability to public
speaking [U = 5089.000, p < .001] and ability to work in safety and security [U =
4362.000, p < .001] was effectively higher than what graduates expected. On the contrary,
ability to work in respect of cultural norms and procedures was less important for

Table 5. Mann–Whitney test for graduates (n = 251) and companies (n = 74) for soft skills.
Graduates Companies
Soft skills Mean rank Mean rank U Sign lev.
Problem-solving and decision-making 164.72 152.80 8532.000 .291
Time management 164.43 158.14 8927.500 .583
Adaptive strategies to tackle tasks 162.49 164.73 9159.000 .845
Self-valorisation 162.31 163.13 9203.500 .994
Emotional self-regulation 160.18 170.13 8669.000 .389
Proactivity 157.21 180.36 7928.000 .045
Objective guidance 158.07 177.46 8143.000 .091
Locus of control 160.00 173.13 8534.500 .260
Resilience 161.11 167.19 8903.000 .602
Teamwork 156.07 186.52 7546.500 .01**
Written and oral communication 160.52 171.42 8664.000 .343
Conflict management 161.46 168.23 8900.000 .559
*p < .05, **p < .01, ***p < .001.
12 V. DOLCE ET AL.

Table 6. Item means, item standard deviation, t-test results for graduates (n = 251) and companies (n
= 74) for technical and generic skills.
Graduates Companies
Mean rank Mean rank U Sign lev.
Technical skills
Knowledge about sector from a local perspective 159.03 174.22 8383.000 .197
Knowledge about sector from an international perspective 159.54 172.66 8418.000 .267
Awareness and specialised skills regarding the professional integration 155.83 185.04 7582.000 .05*
sector
Ability to use information technology 165.11 155.11 8756.500 .421
Ability to communicate orally and in writing using a foreign language 188.39 73.47 2662.000 .001***
Generic skills
Ability to public speaking 146.27 219.73 5089.000 .001***
Ability to work in respect of cultural norms and procedures of the 169.79 137.42 7331.000 .01*
company
Ability to work in safety and security 142.95 228.55 4362.000 .001***
*p < .05, **p < .01, ***p < .001.

companies (Mean Rank = 137.42) than what graduates thought it would be (Mean Rank =
169.79) [U = 7331.000, p < .01].
Hypothesis 3. Employers often prioritise soft skills over technical ones.

Considering generic technical and specific soft skills, Table 7 presents the rankings of
the 10 skills considered more relevant by both companies and graduates. The extent of
overlap is rather considerable, the first three skills recognised to be important by compa-
nies were related to teamwork, attention to safety and security and public speaking ability.
Instead, according to graduates, companies gave generally importance firstly to teamwork
ability (in line with the effective company evaluation) and problem-solving and decision-

Table 7. Rankings of most important attributes (based on average scores) by companies and graduates.
Overall ranking Overall ranking
companies graduates
Teamwork 1 1
Ability to work in safety and security 2
Ability to public speaking 3
Objective guidance 4 4
Written and oral communication 5 4*
Problem-solving and decision-making 6 1*
Adaptive strategies to tackle tasks 7 3
Time management 8 2
Resilience 9 6
Proactivity 10 9
Ability to use information technology 3*
Conflict management 8
Awareness and specialised skills regarding the professional
integration sector
Self-valorisation 10
Ability to work in respect of cultural norms and procedures of the 7
company
Locus of control
Knowledge about sector from a local perspective Emotional self-
regulation
Knowledge about sector from an international perspective
Ability to communicate orally and in writing using a foreign 5
language
Note: *There are two equal value mean.
 ACCOUNTING EDUCATION 13

making skills, secondly to time management and thirdly to adaptive strategies to tackle
tasks and ability to use information technology (in 7th and 11th positions, respectively,
according to company rankings).
Hypothesis 4. Teamwork and communication skills are considered to be among the most
sought-after skills.

Table 7 showed that teamwork and ability to public speaking are in the first and third
position.

Conclusions
This study aimed to verify the presence of a possible match between graduates’ perceptions
and companies’ expectations regarding soft and technical skills. Results did not confirm
the presence of a match of these perceptions and expectations. Furthermore, findings
showed the effective discrepancy between importance estimation and self-evaluation of
these technical and soft skills.
As regards graduates, we assumed that they attributed a higher level of importance to
soft skills than their self-evaluation of possessing them (Hypothesis 1). Findings confirmed
the first hypothesis for the following soft skills: teamwork, problem-solving and decision-
making, time management, adaptive strategies to tackle tasks, resilience, communication,
and conflict management. Thus, the data is in line with other research in the accounting
field (Kavanagh & Drennan, 2008; Jackling & De Lange, 2009) and it seems to suggest that
graduates perceive their degree as not being sufficient to thrive in today’s workplace (Tom-
linson, 2008).
Among graduates, only the area of self showed less discrepancies between importance
and self-evaluation; there were no differences pertaining to proactivity and self-valorisa-
tion. Contrary to trend, emotional self-regulation and attribution styles showed a signifi-
cantly higher level of self-evaluation than of the estimation of their importance. In terms of
objective guidance, that is the ability to focus one’s emotional and cognitive resources in
order to achieve a goal (Borgogni et al., 2004), graduates did not report a significant differ-
ence between importance attributed and self-evaluation.
As regards graduates’ awareness of the importance of technical and soft skills, we
assumed that graduates’ perceptions only partially matched employers’ actual expectations
(Hypothesis 2). In line with other evidence (Kavanagh & Drennan, 2008; Gabric &
McFadden, 2001), this hypothesis was fully confirmed.
With regard to teamwork ability, graduates underestimated the importance of these
skills. The results showed that companies attributed more importance to these skills
than graduates did. Public speaking was another skill that graduates scored higher in
terms of importance estimation than of self-evaluation, as well as teamwork ability, its
importance was underestimated when compared to company estimations. The importance
attributed to ability to work safely appeared to be underestimated compared to company
considerations; however, contrary to previous results, in this case, graduates perceived a
higher level of possession of this skill than of the importance attributed to it. Companies
are particularly sensitive to safety and security for legal reasons; for them, it is mandatory
to pay attention to the issue.
14 V. DOLCE ET AL.

Graduates overestimated the importance attributed to the ability to use a foreign

language.
In line with recent reflections (e.g. Kavanagh & Drennan, 2008; Winstead et al., 2009),
these results confirm that graduates are not totally aware of what employers consider to be
important, particularly those who pay attention to soft skills, rather than to technical ones.
Kavanagh & Drennan’s study (2008) stressed that students were still focused on technical
skills, while employers were more concentrated on general business awareness, knowledge
of ethics, and the ability to be interdisciplinary.
According to our third hypothesis, employers often prioritise soft skills over technical
ones. In this case, hypothesis 3 was also verified. According to the company rankings, the
top 10 positions were represented by soft skills. These findings corroborated previous
research (Hassall et al., 2005; Tan & Laswad, 2018). Although the ability to use infor-
mation technology was not among the top 10 skills, Spraakman and colleagues (2015)
stressed the need to maintain appropriate familiarity with Information Technology and
especially with Microsoft tools such as Excel.
Hypothesis 4 was also confirmed: teamwork and communication are considered to be the
most important soft skills, in line with other evidence (NACE, 2016; DeLange et al., 2006;
Morgan, 1997; Kavanagh & Drennan, 2008; Siriwardane & Durden, 2014). In particular,
and in consideration of company rankings, teamwork was in first place, while public speak-
ing and written/oral communication abilities were in third and fifth, respectively.
For practical implications, this data suggests an intervention on academic accounting
curricula, firstly on those skills deemed important by employers and perceived by gradu-
ates with low levels of self-evaluation, such as teamwork ability, proactivity and public
speaking. As suggested by Jackson (2013), the gaps in graduates’ skills could have a nega-
tive impact on their productivity and organisational performance. Human capital seems to
play a key role in today’s workplace in consideration of global competitiveness; therefore,
it appears important to promote these transferable skills to ensure that tomorrow’s leaders
are able to manage this complexity (Jackson, 2013). In addition, the development of these
skills may have a positive impact on academic success and performance (Chamorro-Pre-
muzic et al., 2010; Kember et al., 2007).
In order to continuously monitor the self-evaluation of these skills on behalf of stu-
dents, the administration of proper tools (for example a brief questionnaire) could be
implemented; moreover, this reflection should be considered a priority for the manage-
ment of accounting courses.
In so doing, specific training programmes for the less developed skills could be created.
Moreover, a proper linkage between theory and practice could be developed (different
methods could be used, such as case studies, role-plays, experiential learning, teamwork
tasks and extracurricular activities) (Wats & Wats, 2009). The objective is to effectively
transfer the skills of accounting graduates to the workplace (Jackson, 2016), developing
appropriate tools and interventions strategies.
Stanley and Marsden (2012) found that problem-based learning (PBL) can be effective
for accounting students, especially to develop skills like teamwork and problem-solving.
Similarly, Leong and Kavanagh (2013) described the implementation of the Accounting
Work-Integration Learning Framework (WIL) in an Australian university. The WIL fra-
mework would facilitate the learning of generic transferable skills, such as teamwork,
problem-solving and communications. Kennedy and Dull (2008) discussed appropriate
 ACCOUNTING EDUCATION 15

meeting management techniques (e.g. flowcharting, storyboarding, brainstorming, action

plans, nominal group technique). These could be promoted in educational environments
in order to improve performance in teams (Kennedy & Dull, 2008). Furthermore, consid-
ering the requirement of personal skills development in the accounting curriculum,
Gammie, Gammie, and Cargill (2002) created the Business Enterprises Skills module for
the Scottish accounting degree programme. Time management, presentation skills,
team working, oral communication skills, attention to health and safety are only some
of the themes identified for the module. This module envisages the use of a combination
of approaches, deliveries and training assessments (Gammie et al., 2002).
Our findings have confirmed the growing demand for accounting graduates who
possess teamwork abilities, good communication and interpersonal skills. Ballantine
and McCourt Larres (2009) supported the efficacy of cooperative learning to promote
interpersonal and communication skills.
Although academies can improve their accounting programmes, as suggested by
Chaffer and Webb (2017), the deficiencies in graduate competency cannot be entirely
attributed to a failure of accounting higher education programmes and, thus, the use of
different strategies, such as real-life scenarios, is recommended. Our study provides gui-
dance on the specific soft skills perceived important both by graduates and companies,
in Italy; results also provide information about the skills self-evaluated as weak by stu-
dents. Moreover, the results are certainly useful for identifying strategies to monitor,
evaluate and support the development of soft skills, to be developed both in the academic
and company’s context.
Future studies could use longitudinal or diary approaches in order to monitor the
acquisition of skills through specific academic training or other types of learning methods.
In spite of its contribution, the results of this study should not be interpreted without
taking into account some limitations. Firstly, the two convenience subgroups are not
representative. Secondly, the study only measured single-source self-report data
(Conway, 2002), which means that common method bias is possible. Thirdly, the cross-
sectional design does not allow for the establishment of causal relationships (Podsakoff,
MacKenzie, Lee, & Podsakoff, 2003).

Acknowledgements
The authors are grateful to the University’s Job Placement Service for their help and cooperation. As
a whole, the Job Placement Service serves an intermediary function, at once helping students in
their career choices and in making preliminary contact with companies and helping companies,
public bodies and international institutions to find and choose students and recent graduates.

Disclosure statement
No potential conflict of interest was reported by the authors.

ORCID
Valentina Dolce http://orcid.org/0000-0001-7127-0620
Federica Emanuel http://orcid.org/0000-0002-7922-719X
16 V. DOLCE ET AL.

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20 V. DOLCE ET AL.

Appendix
Read carefully the statements and indicate how much you are capable …

1 5
At all Completely
1 To tackle the problems and to face decisions using strategies of rational thinking and considering ①②③④⑤
constraints and possibilities, also in complex and unfamiliar conditions
2 To plan, organise, monitor time used for specific activities, by making use suitable spaces to stay ①②③④⑤
focused
3 To adopt proper strategies to tackle tasks to sustain the own efficacy and the achievement of goals ①②③④⑤
4 To reflect, accept, and value yourself, the own characteristics, knowledges and competences ①②③④⑤
5 To recognise and understand emotions (own and of others) and express them ①②③④⑤
6 To take action also if unsolicited, intervene and modify consciously the reality ①②③④⑤
7 Do their very best and spend time and energy to achieve own goals ①②③④⑤
8 To explain the causes of own behaviours and those of others and in particular to realise its ①②③④⑤
objectives
9 To deal with stressful events and reorganise in a positive way their live face up difficulties ①②③④⑤
10 To collaborate positively with other people to achieve a common objective ①②③④⑤
11 To communicate efficaciously at all levels, both in oral and written ①②③④⑤
12 To recognise, understand, and manage conflictual dynamics in the relationship with others ①②③④⑤

When a company recruits a new graduate, how much importance is given to the
following knowledge and abilities?

1 5
At all Completely
1 Knowledge about sector from a local perspective ①②③④⑤
2 Knowledge about sector from an international perspective ①②③④⑤
3 Awareness and specialised skills regarding the professional integration sector ①②③④⑤
4 Ability to use information technology ①②③④⑤
5 Ability to communicate orally and in writing using a foreign language ①②③④⑤
6 Ability to public speaking ①②③④⑤
7 Ability to work in respect of cultural norms and procedures of the company ①②③④⑤
8 Ability to work in safety and security ①②③④⑤