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Impact of Accounting Problem-Solving Competitions on Students’ Ability to Apply Accounting Principles to Unfamiliar Situations

Abstract

Accounting problem-solving competitions are structured academic activities in which students are presented with accounting problems, cases, or practical scenarios that require analysis and application of accounting knowledge, while the ability to apply accounting principles to unfamiliar situations refers to students’ capacity to use established accounting concepts and procedures when faced with new or non-routine problems. This ability is important because accounting practice frequently requires professionals to apply principles to situations that differ from familiar classroom examples. This study therefore seeks to examine the impact of accounting problem-solving competitions on students’ ability to apply accounting principles to unfamiliar situations. Accounting problem-solving competitions expose students to challenging accounting questions that require interpretation, analysis, calculation, judgment, and selection of appropriate accounting procedures. Participants may be required to work individually or in teams and solve problems within specified conditions and time limits. Such activities can provide students with opportunities to move beyond routine exercises and apply accounting knowledge to varied situations that require careful consideration of the information presented. The ability to apply accounting principles to unfamiliar situations involves recognizing the accounting concept relevant to a new problem, interpreting the circumstances presented, selecting an appropriate accounting treatment, and applying the relevant principle accurately. Students who possess this ability can transfer their knowledge from previously learned situations to different accounting problems. Participation in problem-solving competitions may strengthen this ability by exposing students to diverse cases that require flexible thinking, analysis, and practical application of accounting principles. The study will adopt a quantitative research design. The population will comprise Accounting Education students in selected tertiary institutions. Data will be collected using a structured questionnaire and a scenario-based accounting assessment designed to measure students’ participation in problem-solving competitions and their ability to apply accounting principles to unfamiliar situations. The assessment will include non-routine accounting scenarios requiring students to identify relevant principles, analyze transaction conditions, and determine appropriate accounting treatments. The instruments will be subjected to appropriate validity and reliability procedures before administration. Data collected will be analyzed using descriptive and inferential statistical techniques, while the relevant hypothesis will be tested at a 0.05 level of significance. The study is expected to establish that participation in accounting problem-solving competitions has a significant positive impact on students’ ability to apply accounting principles to unfamiliar situations. Students who participate more actively in such competitions are expected to demonstrate stronger abilities to interpret unfamiliar accounting scenarios, select appropriate principles, and apply accounting knowledge to non-routine problems. The findings are expected to have implications for teaching and learning in Accounting Education. Accounting lecturers may need to incorporate more challenging and unfamiliar accounting scenarios into classroom instruction rather than relying predominantly on repetitive exercises. Problem-solving competitions can also be used as complementary learning activities to encourage students to analyze new situations, justify accounting treatments, and develop greater flexibility in applying accounting principles. The study will be beneficial to Accounting Education students, lecturers, tertiary institutions, curriculum developers, professional accounting bodies, and employers. Students may develop stronger analytical, application, and professional judgment skills, while lecturers may gain useful information for designing learning activities that promote transfer of accounting knowledge. Institutions and professional bodies may also use problem-solving competitions as part of efforts to strengthen students’ practical preparation for accounting practice. The study recommends that tertiary institutions should encourage regular accounting problem-solving competitions and integrate non-routine accounting cases into relevant courses. Lecturers should provide students with opportunities to solve unfamiliar accounting problems that require the application of principles rather than simple recall of procedures. The study concludes that accounting problem-solving competitions can provide valuable practical experiences that strengthen students’ ability to transfer accounting knowledge and apply accounting principles effectively to unfamiliar situations.

Keywords: Accounting Problem-Solving Competitions, Accounting Principles, Unfamiliar Situations, Problem-Solving Skills, Accounting Education, Accounting Students, Knowledge Application, Analytical Skills, Accounting Competence, Critical Thinking, Professional Judgment, Accounting Cases, Practical Accounting, Accounting Learning, Problem-Based Learning