Quality of Accounting Knowledge and Its Impact on Profession

The purposes of this research are (1) to describe how millennials view accounting knowledge and the accounting profession and (2) to investigate whether their view of accounting knowledge affects the accounting profession. A survey was conducted online and obtained responses from 342 undergraduate and postgraduate accounting students across Indonesia. The data were analysed using descriptive analysis and multiple linear path analysis. The results showed that a paradigm shift has already happened among millennials. Financial and managerial accounting are not essential nowadays, while auditing, taxation, information systems, general economics, and business knowledge are deemed to be more important. Although millennials still view the accounting profession positively, the results also indicated that the accounting profession needs to adjust to millennials' demands. This research implies that the millennials currently view the accounting profession not just based on how it implements the traditional core courses of basic accounting science but also on how it implements more practical aspects of accounting science and its integration with business and management. This research provides early evidence of the adjustments that accounting educators and professionals need to make if they want to maintain the high value of accounting knowledge and the profession in the current situation.