Study on Management Accounting Educational Plan for the Financial Industry

Abstract

An analysis of the financial industry’s contribution to the national economy revealed that the domestic financial industry must increase its share in the national economy because of its high added value and effect of supporting other industries, compared to other industries and major countries. Moreover, human capital’s importance is increasingly emphasized in economic growth due to the arrival of a knowledge-based economic society. Therefore, it is crucial to establish an appropriate educational system for the financial industry’s growth as a necessary response to changes in the business environment. However, there is a lack of accounting education for the financial industry because financial accounting and cost management accounting in a traditional accounting education address manufacturing-based accounting content. Therefore, this paper intends to establish a foundation of undergraduate management accounting education for the financial industry by suggesting practical plans related to management accounting education. Thus, the financial industry’s management accounting education curriculum is presented as an example; this paper also presents content for each week. This will help not only in establishing management accounting education’s purpose and scope for the financial industry, but also in conducting actual classes. This paper is the first to study an educational plan for the financial industry, which is regarded as weakness in accounting education. Therefore, this paper contributes by suggesting a new direction in accounting education for the financial industry.