Rationale
In the article "Today's Students' Gaps in English for Specific Purposes," the director of Petech Corporation highlighted that many young employees struggle with English for specific purposes (ESP), hindering their career advancement He attributed this issue to inadequate training in ESP, which leaves them unable to read specialized English documents or translate transaction documents effectively Similarly, the human resources manager at Panasonic System Networks Vietnam noted that a lack of ESP knowledge poses a significant barrier for Vietnamese graduates seeking promotions, particularly in foreign direct investment companies.
The facts presented highlight a critical question for educational institutions and educators regarding the relevance of their English for Specific Purposes (ESP) training programs in equipping students with the necessary skills for today's competitive job market As noted by Dudley-Evans and St John (1998: 13), it is essential for ESP practitioners to conduct follow-up assessments with students post-course to evaluate the practical application of their learning and identify any areas where they may feel unprepared.
Since its inception in 2007, the Faculty of English Language at HHT University has developed several English for Specific Purposes (ESP) coursebooks, including one tailored for Financial Accounting This particular ESP coursebook is designed for second-year Financial Accounting students and has been implemented as a key resource in their teaching and learning process.
In 2009, a coursebook was developed to equip students with English vocabulary pertinent to their majors and enhance their employability skills However, the suitability of this coursebook in relation to the course syllabus remains a significant concern for the university's management and ESP teachers This study on the evaluation of the ESP coursebook aims to address these concerns effectively.
Aims of the study
The study aims to assess how suitable is the coursebook “English for Finance” (Cao Xuân Thiều, 2008) used for the second year students of financial accounting at Hà
Hoa Tiên University to the course‟ objectives in terms of aims, contents, and methodology
This article aims to provide recommendations for enhancing the coursebook to improve future courses at the university It addresses the management board's concerns regarding the preparedness of financial accounting students for employment in the field of English for Specific Purposes (ESP) and evaluates the applicability of their learned skills in real-world scenarios.
Scope of the study
When evaluating a coursebook, various criteria must be considered, including the target audience, physical appearance, and specific needs This study, however, concentrates solely on a summative evaluation of the coursebook's aims, content, and methodology in relation to the course's objectives.
Research question
This study addresses the university's concern regarding the preparedness of its financial accounting graduates to apply their learning from the English for Specific Purposes (ESP) course The primary research question focuses on evaluating the suitability of the ESP coursebook for second-year financial accounting students at Hà Hoa Tiên University, specifically in relation to the course's objectives concerning aims, content, and methodology.
Research method
The study utilized a survey research approach, employing both quantitative and qualitative data to address the research question A survey questionnaire was designed to gather insights into the opinions and attitudes of current students and graduates Additionally, informal interviews with three ESP teachers were conducted to gain a deeper understanding of the participants and their learning conditions.
Significance of the study
This study offers valuable insights into the needs, attitudes, and opinions of students and ESP teachers regarding the current ESP materials By understanding the challenges and strengths associated with these materials, ESP teachers can enhance their lesson plans—aligning aims, content, and methodology—to better prepare students for their future careers Ultimately, the findings will benefit students, ESP instructors, and university administrators alike.
This study will inform university administrators' future strategies for investing in ESP teaching materials and contribute to ongoing efforts to encourage further research in this area.
Design of the study
The study encompasses three parts as following:
- Part A, Introduction, provides information on the rationale, aims, scope, research question, methods, significance and design of the study
Part B, Development, consists of three key chapters: Chapter 1, Literature Review, explores theories related to the evaluation of ESP coursebooks and the adaptation of materials; Chapter 2, Research Methodology, outlines the study's context, participants, data collection instruments, procedures, and analysis methods; and Chapter 3, Data Analysis and Discussions, offers a subjective analysis of the course objectives, evaluates the collected data on the coursebook, discusses the findings, and provides recommendations for material enhancement.
- Part C, Conclusion, presents major findings, limitation of the study, and suggestion for further studies.
LITERATURE REVIEW
ESP course evaluation
Hutchinson and Waters (1987) emphasize the importance of regularly evaluating English for Specific Purposes (ESP) courses to ensure their relevance and effectiveness in meeting educational needs Evaluation is crucial for demonstrating how well these courses fulfill their intended purposes Alderson and Waters (1983) identified four key aspects of ESP course evaluation, with an additional aspect introduced by Hutchinson and Waters (1987).
1.1.1 What is meant by evaluation?
Evaluation, as defined by Dudley-Evans and St John (1998), is the process of determining effectiveness through inquiry and response Hutchinson and Waters (1987) refine this concept by emphasizing the importance of aligning needs with available solutions, indicating that evaluation should be an objective matching process According to Brown (1989), coursebook evaluation involves systematically gathering and analyzing relevant information to enhance curriculum quality This process also includes assessing the curriculum's effectiveness and efficiency, along with understanding participants' attitudes within the educational context.
Evaluation is a systematic process that assesses the appropriateness and usefulness of a coursebook's content, language area, and methodology for learners It is essential to consider the needs and desires of both ESP teachers and learners, ensuring that the course objectives align with their expectations and goals.
1.1.2 Why should the evaluation be carried out?
Coursebook evaluation is essential for several reasons, as highlighted by Sheldon (1988) and Ellis (1997) Sheldon emphasizes that selecting a textbook reflects significant educational decisions involving professional, financial, and political investments Through evaluation, teachers can familiarize themselves with various coursebooks, identifying their strengths and weaknesses Ellis adds that evaluating teaching materials helps educators choose the most suitable resources before a course begins and determine whether to continue using or replace materials after a period of use.
Coursebook evaluation is a complex yet essential activity for classroom teachers, supervisors, and administrators, as it guides and directs the teaching and learning process This evaluation measures the validity and reliability of teaching techniques, aids in developing more effective instructional materials, and helps teachers identify students' needs Ultimately, it motivates students to study and provides significant support to educators.
1.1.3 When should the evaluation be occurred?
Evaluation in English for Specific Purposes (ESP) can occur at three key stages: before the course begins, during its progression, or at its conclusion Robinson (1991) refers to the initial assessment as preliminary evaluation, while McGrath (2002) describes it as pre-use evaluation, emphasizing its role in assessing the potential effectiveness of a textbook for future performance.
McGrath refers to the evaluation conducted during an ongoing course as in-use evaluation, aimed at assessing the currently utilized textbook (2002: 15) This process is classified as formative evaluation by Robinson (1991: 58) and is further elaborated by Dudley-Evans and St John (1998: 128), who describe it as comprising a series of mini-evaluations that facilitate essential modifications to the course, including adjustments to materials and textbooks.
Robinson and others distinguish between formative and summative evaluations, noting that summative evaluation occurs at the end of a course to assess its effectiveness and inform improvements for future iterations Ellis (1997: 36-42) refers to this as post-use evaluation, emphasizing its role in enhancing textbooks for future use Overall, they argue that such evaluations are essential for developing long-lasting and effective courses.
1.1.4 How can the evaluation be carried out?
Ellis (1997: 41) advocates that evaluation should be taken place on empirical basis
Teachers can enhance their effectiveness by formalizing the procedures for micro-evaluation, moving beyond mere impressionistic assessments Chambers (1997: 32-33) emphasizes the importance of empirical evaluation, highlighting its time-conscious and concise approach, which merits attention in the educational assessment landscape.
However, Sheldon (1988: 241-245) provides the evaluator with more concise
When selecting and assessing texts, the "common-core factors" encompass practical criteria such as "guidance," which outlines how teachers and students should utilize the material, and "flexibility," which evaluates the extent of preparation required from teachers Including visual and financial criteria can greatly benefit evaluators Hutchinson and Water (1987) advocate for a rational checklist approach to evaluating English for Specific Purposes (ESP) courses, offering a less exhaustive checklist than Sheldon’s, allowing for the inclusion of additional important criteria They propose a four-step evaluation process: defining criteria, subjective analysis, objective analysis, and matching Their framework emphasizes the need for clear evaluation criteria to facilitate the comparison of different materials, with subjective analysis serving as a consistent set of requirements.
ESP courses can be evaluated through various methods, including simulations and suggestion boxes, as noted by Hutchinson and Waters (1987) In practice, however, evaluations typically rely on techniques such as test results, questionnaires, discussions, interviews, and informal feedback like unsolicited comments and causal charts The choice of evaluation methods should align with the specific teaching context to ensure effectiveness.
1.1.5 Who should be involved in the evaluation
Chambers (1997) emphasizes the importance of involving a diverse group of users in the selection and evaluation of educational materials to foster a sense of ownership in the decision-making process The level of involvement may differ among stakeholders, but key participants typically include the ESP teaching institution, teachers, learners, and course sponsors (Hutchinson and Waters, 1987) According to Hutchinson and Waters, evaluation is influenced by individuals' perceptions of value, which can vary based on their specific interests and concerns They highlight that the choice of whom to consult and the methods of inquiry will significantly impact the outcomes of the evaluation process.
Materials, coursebook and textbook
According to Tomlinson (1998), teaching materials encompass a wide range of resources utilized to assist language learners These materials can include textbooks, workbooks, audio recordings, videos, photocopied handouts, newspapers, and even written content on a whiteboard.
According to McGrath (2002: 7), a coursebook is defined as a textbook that supplies the essential materials for a course Typically, these core materials are paper-based, making the coursebook a fundamental resource for language learning and teaching It serves as a source of language, offers learning support, and acts as a motivational and reference tool (Dudley-Evans and St John, 1998: 170).
Materials Adaptation
1.3.1 Definition and principles of materials adaptation
Adaptations are tailored teaching and assessment strategies designed to meet individual student needs, enabling them to achieve learning outcomes and demonstrate mastery of concepts (British Columbia Ministry of Education, 2009) McGrath (2002) emphasizes that adaptation involves extending or exploiting existing materials to fit specific teaching contexts, rather than merely selecting appropriate textbooks His work delves into evaluating the benefits and drawbacks of textbooks, ultimately aiming to adapt them effectively for foreign teaching environments.
According to Grant (1987), effective materials adaptation involves several key principles: first, ensuring that dialogues are communicative; second, creating learning activities that are both relevant and purposeful; third, addressing the external and psychological needs of learners; and fourth, incorporating models of authentic language to enhance the learning experience.
In her 2007 investigation, Chunmei Yan identifies four key principles that guide teachers in adapting their instructional methods: the integration of traditional and communicative approaches, addressing students' needs, incorporating multiple language skills, and aligning with their own preferences She supports Grant's perspective, emphasizing that the adaptation of materials should prioritize the needs and preferences of students.
Adaptation in education entails the supplementation of textbooks with materials from various resources, particularly authentic materials, which are considered superior to non-authentic ones Teachers who prioritize gathering authentic resources find it significantly easier to modify their textbooks effectively This is particularly relevant in English Language Teaching (ELT) contexts, where access to authentic English materials can be limited.
McDonough and Shaw (1993: 79-89) mention five techniques, including: adding, deleting, modifying, simplifying, and reordering
- By the word “adding”, the author implies that materials are supplemented by putting more into them, while considering the practical effect of time allocation
Deleting is the reverse of adding and encompasses activities like subtraction, which reduces content quantitatively without altering its methodology, and abridgement, which modifies both methodology and content.
- Modifying includes such steps as rewriting and restructuring Rewriting is utilized when the content of the materials needs modification; whereas, restructuring applies to classroom management
- Simplifying can be utilized for the purpose of adapting language materials As
McDonough and Shaw put it, simplification can be used for such parts of course materials as sentence structure, lexical content, grammatical structure, and so on
Reordering in textbooks allows for the rearrangement of content, enabling educators and students to adjust the sequence of presentation within a unit or to explore units in a different order than initially planned This flexibility enhances the learning experience by accommodating diverse teaching styles and learning preferences.
Maley (1998) presents various strategies for teachers looking to adapt materials, such as omission, addition, reduction, extension, rewriting, modification, replacement, reordering, and branching In practice, language educators typically select specific techniques for a lesson unit, utilizing them either individually or in combination based on their educational goals and the specific needs of the teaching material.
Previous studies
Numerous studies have focused on coursebook evaluation, particularly in the realm of English for Specific Purposes (ESP) Notably, Nemati's 2009 study presented in a language journal is recognized for its systematic approach to vocabulary evaluation Additionally, Jamshidi's 2013 research evaluated a textbook designed for speech therapy students, using McDonough and Shaw's (2003) framework for both external and internal assessment This evaluation indicated that while the ESP textbook was generally suitable, it required modifications and supplementary materials to better serve computer science students In contrast to Jamshidi's findings, Baleghizadeh and Rahimi conducted a different analysis, further contributing to the discourse on ESP coursebook evaluation.
In 2013, a study was conducted to assess the textbook "English for the Students of Sociology: Social Science Texts" used at the University of Tehran The research aimed to evaluate the pedagogical value and appropriateness of the book for the specific language program designed for sociology students.
In Vietnam, there is a noticeable scarcity of M.A minor theses focused on the evaluation of English for Specific Purposes (ESP) coursebooks in financial accounting According to the VNU-ULIS database, the electronic records from 2010 highlight some notable evaluations of ESP coursebooks, including those for geography engineering by Nguyễn Thị Kiều Giang and for tour guiding by Ngô Thị Mỹ Bình.
In 2013, several evaluations of English for Specific Purposes (ESP) coursebooks were conducted, focusing on marine engineering (Lương Thị Minh Thu), pharmaceuticals (Nguyễn Thị Thảo), and economics and business management (Nguyễn Thị Mai Hương) These studies shared a common methodology, utilizing Hutchinson and Water's four key steps of evaluation, and were characterized as summative in nature.
Research on evaluating English for Specific Purposes (ESP) coursebooks for financial accounting has been limited, particularly at Hà Hoa Tiên University, where no evaluations of coursebooks, either in general or specifically for ESP, have been conducted.
Therefore, my study on evaluating ESP coursebook for the second year students of Financial Accounting at this university is really in need and plays a significant role.
Chapter summary
Coursebook evaluation and materials adaptation are interpreted in various ways by different theorists and linguists, yet their contributions serve as a theoretical foundation for research in this field This study employs a summative evaluation approach, following Hutchinson and Water's four key steps of evaluation To effectively conduct this research, a rational checklist adapted from Hutchinson and Water's framework will be utilized.
RESEARCH METHODOLOGY
Context of the study
The study was conducted at Hà Hoa Tiên University, a private institution established seven years ago in Hà Nam province, with a total enrollment of 421 students, including 219 majoring in financial accounting The university offers a two-stage English for Specific Purposes (ESP) course tailored for financial accounting students.
- Stage 1 (semester 3) consists of 45 credit hours of ESP1
- Stage 2 (semester 4) consists of 45 credit hours of ESP2
The English for Specific Purposes (ESP) course is mandatory for FOFA students in their third and fourth semesters, following 120 credit hours of general English in the first two semesters This program aims to develop students' English reading comprehension, translation skills, and grammar knowledge while equipping them with technical vocabulary pertinent to fields such as economics, finance, banking, accounting, marketing, and business administration Upon completion, students are expected to proficiently read and translate financial documents between English and Vietnamese and prepare transaction documents in English, ensuring they meet the skill requirements for their future careers.
Since its introduction at the university in 2009, the coursebook titled "English for Finance" has remained unchanged This comprehensive resource consists of 42 units divided into six key topics: economics, money and banking, finance, accounting and auditing, financial analysis, and international business For the ESP course designed for FOFA's second-year students, only 20 of these units were selected, with the first stage covering ten units focused on economics and money and banking.
Unit 6: Raising money for investment
Unit 7: Money and its functions
Unit 9: Banks and interest rate
Other ten units for the second stage cover the topics of accounting and auditing, financial analysis, and international business, including
Unit 4: The roles of auditors
Unit 5: Distinction between accounting and auditing
Unit 9: Trade and surplus deficits
Unit 10: What is the balance of payment?
Each unit has three main sections, including reading comprehension, language focus, and word study
Types of tasks and exercises in the coursebook are pointed out as following:
- Reading comprehension: answering given questions, multiple choices, true or false
- Language focus: gap filling, sentence completion, sentence transformation, matching, mistake identification
- Word study: sentence completion, matching, gap filling, word formation, multiple choices
Since its establishment in 2009, the faculty has been teaching English for General Purposes (EGP) and English for Specific Purposes (ESP) with a mix of permanent and non-permanent staff, where permanent teachers handle approximately 70% of the instruction Among them, three permanent ESP instructors focus on teaching second-year Financial Accounting students However, the university lacks a fully equipped English language lab, relying primarily on two CD players and a coursebook for ESP instruction, which unfortunately does not include listening tasks, rendering the CD players ineffective.
The study involved 53 second-year financial accounting students, aged 22 to 23, who had recently completed their English for Specific Purposes (ESP) course This diverse group includes both male and female participants, all of whom have been studying English for at least five years, with none beginning their English education after entering university.
The second group of participants consists of 13 graduate students who have completed the ESP course at the university and are currently employed as accounting staff in various companies They were randomly selected for the research through email outreach.
The third group involves three ESP teachers of the university They are from 32 to
The study focuses on a group of 35-year-old female educators who have taught second-year students using specific materials for English in Financial Accounting Each teacher has at least one year of experience in this subject area, despite none of them majoring in Financial Accounting Among the group, two hold master's degrees, while one is currently pursuing a master's course.
Data collection
The research made use of the instruments of questionnaire and informal interviews to collect data
A survey was conducted to evaluate the ESP coursebook at Hà Hoa Tiên University, targeting 53 second-year students who recently completed the course and 13 graduate students with prior experience The questionnaire comprised two sections: the first gathered personal information, while the second utilized a five-point Likert scale to assess participants' opinions on the coursebook The findings aimed to determine the coursebook's alignment with the course objectives regarding aims, content, and methodology.
Unstructured interviews were conducted with three ESP teachers to gather their insights on the coursebook's aims, contents, and methodology The interviews took place at mutually agreed-upon times and locations, ensuring the teachers' convenience Their feedback was documented in an interview report.
- Step 1: Designing questionnaires for the students in the form of Liker five rating scale type
In Step 2, questionnaires were distributed to second-year students immediately after their classes, where they were asked to complete them during class time Meanwhile, the graduate group received their questionnaires via email, with a polite request for responses within three days.
In Step 3, we facilitated the completion of questionnaires by 53 second-year students gathered in one room, addressing their questions to ensure they fully understood the survey After collecting all 53 completed questionnaires, we maintained communication with 13 selected participants from the graduated group to guarantee the timely return of their surveys and to clarify any questions they had Ultimately, we successfully collected 13 questionnaires from this group by the end of the process.
The interviews were conducted with the three ESP teachers during their relaxing time at their offices Open-ended questions were used to elicit the needed data
The process was divided into three stages, objective analysis, subjective analysis, and the matching
The first stage aimed to subjectively realize the course‟s objectives by looking carefully at the course syllabus itself
The second stage involved an objective evaluation of the coursebook, gathering insights from second-year students, graduate students, and ESP teachers regarding their perceptions This phase aimed to explore their opinions and attitudes toward the coursebook's objectives, content, and methodology, with results presented in various tables for clarity.
The final stage involved comparing the results of both objective and subjective analyses to assess the coursebook's alignment with the course objectives This process utilized the point-awarding method proposed by Hutchinson and Waters (1989: 104).
0 = does not match the desired feature
1 = partially match the desired feature
2 = closely match the desired feature
Chapter summary
The ESP course for HHT's financial accounting students consists of two stages, totaling 90 credit hours, and involved a study of 69 participants, including second-year and graduate students, as well as ESP teachers To assess the coursebook's alignment with the syllabus, the researcher utilized questionnaires and informal interviews to gather data The results were presented using descriptive strategies and various analytical tools, including tables.
DATA ANALYSIS AND DISCUSSIONS
Subjective analysis
This section focuses on understanding the course objectives by closely examining the course syllabus While it does not cover other important elements such as prerequisites, time allocation, grading plans, and tentative schedules, these aspects may require further exploration later on.
- Introduce students topics on financial accounting which are closely relevant to their background knowledge and beneficiary for their future career
- Introduce students to typical English concepts, terms relevant to financial accounting, thus enhance their English technical vocabulary
This article aims to introduce students to essential aspects of English grammar, including the use of "as if" clauses, the distinction between passive and active voices, and the structure of result clauses with "so that " and "such that " Additionally, it covers relative clauses, compound nouns, and various verb tenses such as past simple and present perfect Students will also learn about subordinate clauses, gerunds, and the application of "must" and "have to." Furthermore, the article addresses the infinitive of purpose, prepositions of amount and difference, as well as defining and non-defining relative clauses, adjective modification, and the use of prefixes.
The program aims to enhance students' English reading comprehension and translation skills, focusing on financial accounting terminology By facilitating the translation of texts between English and Vietnamese, students will gain the ability to read and interpret English reference materials, thereby enriching their knowledge and better preparing them for future employment opportunities.
- To provide students with training in English writing comprehension, then they can make and understand transaction documents in English relevant to their future jobs
- To raise students‟ awareness of the importance of the ESP to their future jobs.
Objective analysis
The collected data shows different opinions among the 53 second year students on the coursebook in terms of aim as can be seen in the following table
Table 1: Statistics on the 2 nd year students’ opinions on the coursebook in terms of aims
Strongly agree Agree Neutral Disagree Strongly disagree
English vocabulary relevant to financial accounting
The coursebook provides you opportunities to practice English reading comprehension and translation in area of financial accounting
The coursebook helps you to train with English oral communication in area of financial accounting
The coursebook provides you opportunities to practice English writing comprehension skill
The survey results indicate that a significant majority of participants, specifically 73.58%, 94.34%, and 66.04%, believe the coursebook enhances their English vocabulary, offers training in reading comprehension and translation in financial accounting, and improves their grammar skills Additionally, feedback from graduated students reveals strong consensus on the practical value of their learning in English for Specific Purposes (ESP), particularly in reading comprehension, vocabulary, grammar, and translation, which they find beneficial for their professional endeavors.
Table 2: Statistics on the 13 graduated students’ opinions towards the statement 1 (appendix 1)
A mere 7.7% of graduated students felt they did not benefit from the ESP course, while 15.38% remained neutral on the matter Notably, a significant 84.62% of graduates agreed that English oral communication is unnecessary in their professional roles, as illustrated in Table 3.2.1.3.
Table 3: Statistics on the graduated students’ opinions toward statements 4 and 5 (appendix 1)
Strongly agree Agree Neutral Disagree Strongly disagree
English oral communication in relevant to financial accounting
It is suitable and socially acceptable for the coursebook to focus on English reading comprehension, translation, vocabulary, and
07 53.85 03 23.08 02 15.38 01 7.69 0 0.0 grammar because there is no need for oral communication with your job
A significant 76.93% of students from the graduated group expressed agreement or strong agreement regarding the coursebook's focus on English reading comprehension, vocabulary, grammar, and translation, indicating its social acceptance and relevance to their job requirements This finding is further supported by interviews conducted with three ESP teachers, which corroborated the statistical data.
3) shows that all of them shared the same idea that with the coursebook, their students would be able to comprehensively read English documents relevant to financial accounting, improve their English grammar knowledge, and enrich their English vocabulary in financial accounting
The interview report reveals that only one participant acknowledged the coursebook's provision for practicing English oral communication, while none mentioned opportunities for training in English writing comprehension Additionally, a limited number of graduated students felt they had received sufficient training in writing skills through the coursebook These findings are illustrated in Table 3.2.1.4.
Table 4: Statistics on the 13 graduated students’ opinions towards the statement 6 (appendix 1)
Among the graduated group, only one individual held a contrasting view compared to the interviewed teachers In contrast, a significant consensus emerged among second-year students, with 83.02% aligning with the perspectives of both the majority of graduates and the interviewed teachers on this matter, as demonstrated in Table 3.2.1.1.
During the interview, all three participating teachers agreed that their students were assigned topics closely related to their major, a sentiment echoed by 69.81% of the undergraduate students surveyed, with 37 out of 53 supporting this view The details of these findings are presented in the following table.
Table 5: Statistics on the 53 second year students’ opinions towards the statement 6 (appendix 2)
The survey results indicate that only 13.21% of second-year students disagreed with the statement, suggesting a strong consensus among them In contrast, the graduated group expressed that a significant number of topics remain irrelevant to their current work.
Table 6: Statistics on the 13 second year students’ opinions towards the statements 7 and
According to the data presented, nearly 70% of students indicated that most of the topics in the coursebook are relevant to their current work, while over 84% expressed agreement with statement 8 in the appendix.
1) These students mentioned such irrelevant topics as marketing, international businesses, financial analysis, economics, investments, and pricing strategies
Teachers reported that their students struggled with answering reading comprehension questions from the coursebook (interview report, appendix 3) In relation to this, second-year students expressed their perspectives, which are detailed in the following table.
Table 7: Statistics on the 2 nd year students’ opinions toward statements 7 and 8 (appendix 2)
Strongly agree Agree Neutral Disagree Strongly disagree
(%) Tasks/Exercises of reading comprehension are boring and monotonous
The reading comprehension questions require much Ss.‟ background knowledge in financial accounting
A significant 80% of students believe that a foundational understanding of financial accounting is essential for tackling related questions Additionally, a striking 90.56% of students find reading comprehension exercises tedious and repetitive Teachers interviewed noted that students show greater motivation when engaging with multiple-choice and true/false tasks compared to traditional reading comprehension questions.
Teachers reported a lack of motivation among students regarding individual grammar and vocabulary study tasks (interview report, appendix 3) Additionally, students from the ungraduated group showed a consensus on statement 9 (appendix 2), as illustrated in the table below.
Table 8: Statistics on the 53 second year students’ opinions towards the statement 9 (appendix 2)
According to the data, 33 out of 53 students expressed that they find the grammar and vocabulary study exercises both diverse and motivating Conversely, 15.09% of the respondents strongly disagreed with this statement.
Evaluating the coursebook in regards with the guidance or language support, the second year students showed their viewpoints as in the table below
Table 9: Statistics on the 2 nd year students’ opinions toward statements 10 and 11 (appendix 2)
Strongly agree Agree Neutral Disagree Strongly disagree
(%) The coursebook provides specific instructions to help
The coursebook provides guidance and suggestion for further study at the end of every part or unit
The survey results indicate that none of the participants believe the coursebook offers guidance or suggestions for further study at the end of each unit, with only 9.34% expressing a neutral opinion Additionally, only two out of 53 students agreed that the coursebook provides specific instructions for completing tasks This widespread disagreement among students aligns with feedback from interviewed teachers, who emphasized the need for clear guidance and suggestions for further study, as detailed in the interview report (see appendix 3).
Findings and discussions
The matching table (appendix 6) shows the result that the coursebook is only partially suitable to the course‟s objectives in terms of aims, contents, and methodology
3.3.1 Suitability of the coursebook in terms of aims
The course is designed to enhance students' English reading comprehension, writing skills, and translation abilities, preparing them for future employment While the coursebook effectively provides training in reading comprehension and translation, it lacks sufficient exercises for both formal and informal writing, limiting students' practice opportunities As a result, students may struggle with creating essential documents such as business emails, transaction reports, and financial analyses, which could hinder their career advancement Therefore, the coursebook is considered only partially suitable for achieving the course's objectives.
3.3.2 Suitability of the coursebook in terms of contents
While the coursebook topics align well with students' background knowledge in financial accounting, some subjects are deemed irrelevant to their future accounting roles For example, the process of communicating the value of a product or service for sales purposes falls under marketing, not accounting Additionally, pricing decisions are generally outside the accountants' responsibilities; in small companies, top management sets prices, while in larger firms, divisional and product-line managers handle pricing Therefore, accountants are not responsible for setting prices.
The coursebook topics for financial accounting are generally understandable for students; however, some content lacks direct relevance to their future accounting practices Consequently, students may not significantly benefit from the English concepts, terms, or technical vocabulary presented, which are essential for reading professional documents and fulfilling job requirements related to business transactions in English Overall, the coursebook only partially aligns with the course objectives.
3.3.3 Suitability of the coursebook in terms of methodology
The coursebook fails to align effectively with the course objectives due to inappropriate reading comprehension exercises and tasks, as well as a lack of guidance and suggestions for additional study and practice.
The survey results indicate that while the grammar and vocabulary exercises in the coursebook are diverse and engaging for students, the reading comprehension tasks, especially open-ended questions, are perceived as monotonous and challenging due to the requirement of specialized knowledge in financial accounting This lack of engagement with reading comprehension tasks demotivates students, creating an unproductive learning environment and diminishing the effectiveness of training in English reading comprehension skills Consequently, the course's goal of enabling students to read financial accounting documents in English may be jeopardized.
The survey results indicate a strong interest among students in teamwork and pair work, suggesting that these teaching techniques could be effectively integrated into the coursebook exercises This integration would enhance the effectiveness and efficiency of ESP training lessons However, the coursebook lacks specific guidance on teaching methods and suggestions for further study, which hinders students' ability to complete tasks efficiently Providing this guidance is essential for facilitating student performance and enabling teachers to minimize time-consuming activities in the classroom.
Recommendations for the coursebook’s adaptation
The coursebook aligns with the course objectives in several areas, but there are aspects where it falls short Adapting the coursebook can enhance lesson engagement and motivation for students Based on the findings outlined in section 3.3, several recommendations for adapting the coursebook are provided below.
Beside English reading comprehension, technical words, and grammar, the coursebook should also aims to provide the students with English writing comprehension
Non-English major students should familiarize themselves with both formal and informal writing styles relevant to financial accounting This knowledge will enable them to create specialized documents within their field effectively.
To better meet students' needs, it is essential to adapt the curriculum by incorporating training in English writing comprehension and translation, as the current coursebook lacks these components For example, enhancements can be made to Unit 1 - Economics (ESP Stage 1) by including additional sections on writing comprehension and translation, as illustrated in Sample 1 (Appendix 4).
By doing so, the students will be provided more chances to be trained with English writing comprehension and translation
The 20 units of the English for finance for the second year students cover only seven major topics of economics, money, banking, accounting, auditing, financial analysis, and international businesses The units of the same major topic can be replaced by others of different topics Take the series of units for the first stage of the ESP course for example Of the five units about economics, and economic system, the unit 2 – Economic systems can be replaced with another about taxation, the unit 5 – Demand and supply with another about insurance Similarly, such other topics as marketing, stock market, labor, investment, inflation, and so on can be used to replace some units specialized on the same topics The replacement will make the ESP course of stage 1 less monotonous and provide the students chances to increase their knowledge of the subject
To address the gap between course materials and students' specific needs in finance and accounting, incorporating supplemental resources is an effective strategy This approach will be applied in the Stage 2 ESP course, enhancing the learning experience For instance, short reading texts provided in samples 2 and 3 (appendix 4) can complement the primary reading materials in Unit 1 - What is Accounting? These additional readings offer students more opportunities for reading comprehension practice, alleviating boredom associated with repetitive and uninspiring topics.
To enhance the alignment of the coursebook with students' needs, it is essential to reorganize the content based on the popularity of topics, the length of reading texts, and the complexity of exercises By prioritizing subjects that capture students' interest, the coursebook can be structured in a way that engages learners more effectively, ensuring that more appealing content is presented before less engaging material.
Such adapting techniques as simplifying, expanding, editing, and replacing can be made use of as following
Reading questions often require students to rely on their prior knowledge rather than the text itself, which can lead to a lack of motivation To enhance engagement, educators can simplify these tasks by offering hints or suggestions This approach aims to make it easier for students to tackle reading comprehension assignments For instance, Sample 4 (Appendix 4) illustrates a simplified reading comprehension task from Unit 4 – The Roles of Auditors in the ESP course for Stage 2.
To combat boredom and demotivation caused by repetitive reading comprehension questions, the expanding technique can be implemented In Unit 1 of the ESP course for Stage 2, titled "What is Accounting?", this technique will enhance the reading experience through pre-reading, while-reading, and post-reading activities, as demonstrated in Sample 5 (Appendix 4).
The technique is designed to simplify long reading texts from units 5, 7, and 8 of the Stage 1 ESP course, as well as most units from Stage 2, to reduce difficulty and alleviate student stress during reading tasks This involves segmenting the texts into manageable sections and subsequently editing the reading comprehension exercises to align with these modifications.
Reading comprehension exercises should be relevant and accessible to students; if they rely heavily on background knowledge, lack connection to the reading texts, or are overly difficult, they must be replaced A notable example is the reading comprehension exercise from Unit 2 – The Balance Sheet in the Stage 2 ESP course, which could benefit from a revision to include multiple-choice and matching formats, as illustrated in Sample 6 (Appendix 4).
Modification of instructions enhances clarity and direction for both teachers and students, enabling more efficient use of limited classroom time By clearly outlining the teaching-learning techniques required for each task, such as collaborative activities like "In pairs, read the text again and map the structure of the balance sheets, then draw it out and describe it to the class," students gain a straightforward understanding of their responsibilities This clarity allows students to quickly grasp what is expected, facilitating effective task completion.
To address the coursebook's insufficient recommendations for additional study, it is essential to provide suggestions for further reading and extra practice These recommendations can enhance students' understanding of key concepts, procedures, and processes Including these suggestions at the end of each section or unit will offer students valuable resources to deepen their knowledge and improve their skills.
Chapter summary
The coursebook was evaluated through objective analysis involving second-year students, graduated students, and three ESP teachers, focusing on their opinions regarding its aims, content, and methodology A subjective analysis further explored the course's objectives in detail The comparison of these analyses revealed a significant misalignment between the coursebook and the course's objectives Consequently, recommendations for adapting the coursebook are proposed to bridge the gap in aims, content, and methodology, ensuring better alignment with the course's intended outcomes.
Recapitulation
Concerns about the inadequate English skills of young employees, particularly in English for Specific Purposes (ESP), have prompted the management board and English instructors at Hà Hoa Tiên University to evaluate the effectiveness of the current ESP coursebook used for second-year financial accounting students They are questioning whether the course aligns with their educational objectives and if students will be able to apply their ESP knowledge in future job roles, addressing gaps in their preparation This context has led to the initiation of the current study.
The theoretical framework of the study addresses five key questions related to the evaluation of English for Specific Purposes (ESP) courses: the definition of evaluation, its purpose, timing, methods, and the stakeholders involved Additionally, the study reviews concepts related to materials, including coursebooks, textbooks, and the process of material adaptation.
To deal with the research question, “How suitable is the coursebook “English for
A study was conducted to evaluate the course "Finance" for second-year financial accounting students at Hà Hoa Tiên University, focusing on its objectives, content, and methodology Utilizing a survey research approach, data was collected through Likert scale questionnaires and informal interviews with 69 participants The evaluation employed a summative assessment method to facilitate significant improvements for future use, following the evaluation process outlined by Hutchinson and Waters An adapted evaluation checklist was also used The findings revealed the coursebook's alignment with the course objectives, providing a foundation for recommendations on the adaptation of the course materials.
Concluding remarks
The coursebook is concluded to be partially suitable to the course‟s objectives in terms of aims, contents, and methodology
The course does not effectively meet its objectives as it lacks sufficient training in English writing comprehension, which is essential for preparing students to create business transactional documents in their future careers However, the coursebook is a strong asset, as it aligns well with the course's goals by offering students opportunities to enhance their English reading comprehension, translation skills, and vocabulary, particularly in financial accounting, while also improving their grammar knowledge.
The evaluation of the coursebook focuses on the relevance of its topics to the course objectives, particularly in financial accounting Key findings indicate that while the majority of topics are comprehensible for students, certain subjects lack direct applicability to their future careers in accounting.
The coursebook effectively provides students with a variety of engaging grammar and vocabulary exercises; however, it falls short in offering appropriate reading comprehension tasks and lacks guidance for further study Consequently, it fails to motivate students in developing their English reading comprehension skills, which may lead to unsuccessful outcomes in achieving the course objectives.
The coursebook presents both strengths and weaknesses regarding its alignment with the course's objectives, content, and methodology While it shows potential for future use in ESP courses at Hà Hoa Tiên University, enhancements are essential to ensure that lessons for second-year students are engaging, motivating, and directly applicable to their future careers in accounting Necessary improvements include refining language components, selecting more relevant reading topics, diversifying exercises and tasks, and providing better guidance for further study and practice, as highlighted in the study.
Limitations of the study
The evaluation results were based on the opinions and attitudes of just 69 participants, which may not provide sufficient data for the researcher to draw meaningful conclusions The limited number of graduated students surveyed raises concerns about the reliability of insights regarding their ability to apply what they learned in English for Specific Purposes (ESP) and the areas in which they felt unprepared.
The study primarily focused on the course's objectives while neglecting the needs of coursebook users in its evaluation Additionally, the checklist employed was limited and did not encompass various criteria highlighted by Hutchinson and Waters As a result, the evaluation may lack comprehensiveness and depth, and the findings could vary significantly if additional factors were considered.
While other universities and colleges may consider implementing the coursebook, the findings of this study are specific to Hà Hoa Tiên University and may not be applicable to other institutions Each educational establishment has unique strategies and specialized teaching conditions, leading to variations in student learning styles, goals, interests, and recruitment quality.
Basing on the major findings and limitation of the study, further studies should be extended to:
- Evaluate the suitability of the coursebook to the needs of its, including students, teachers, and employers
- Evaluate the effectiveness of the coursebook adaptation techniques
- Investigate possible effects of the coursebook adaptation techniques towards students‟ learning motivation
- Investigate the needs of the freshmen students at the university in learnig ESP
1 Lỗ hổng tiếng Anh chuyên ngành của sinh viên hiện nay, Báo Lao động, retrieved from http://nld.com.vn/giao-duc-khoa-hoc/lo-hong-tieng-anh-chuyen-nganh- 2009122512143728.htm, on July 25 th 2014
2 Mạnh Trường (2014), Không ngoại ngữ - khó thăng tiến tại doanh nghiệp FDI, Báo Pháp luật, retrieved from http://cafebiz.vn/viec-lam/khong-ngoai-ngu-kho-thang- tien-tai-doanh-nghiep-fdi-2014060616361396013ca104.chn, on June 6 th 2014
3 Alderson, J.C and Waters, A (1983), A Course in Testing and Evaluation for ESP teachers, Lancaster Practical Papers in English Language Education, Vol 5,
4 Baleghizadeh, S & Rahini, A.H (2011), Evaluation of an ESP Textbook for the Students of Sociology, LTR Journal, Vol 2, No.5, pp 1009-1014, http://dx.doi.org/10.4304/jltr.2.5.1009-1014
5 Brown, J.D (1989) Language Program evaluation: a synthesis of existing possibilities In R K Johnson (Ed.) (1989) The Second Language Curriculum
6 Ngô Thi ̣ Mỹ Bình (2010), An Evaluation of the Effectiveness of the Materials on English for Tour Guides for the Third Year Students at Sao Đỏ Industrial College and Suggestions for Adaptation, VNU-ULIS
7 British Columbia Ministry of Education (2009), A Guide to Adaptations and Modifications
8 Chambers, F (1997), Seeking Consensus in Coursebook Evaluation, ELT Journal,
9 Dudley-Evans, T & St John, M (1998), Development in ESP – A Multi-disciplinary
10 Ellis, R (1997), The Empirical Evaluation of Language Teaching Materials, ELT Journal, 51, pp 36-42
11 Nguyễn Thi ̣ Kiều Giang (2010), Students‟ Evaluation of EPS Coursebook in Faculty of Geography at Hanoi National University of Education, VNU-ULIS
12 Grant, N (1987), Making the Most of Your Textbook, London: Longman
13 Nguyễn Thi ̣ Mai Hương (2013), An Evaluation of EBP Material „English in Economics and Business‟ for Economics and Business Management Students in Hanoi University of Mining and Geology, VNU-ULIS
14 Hutchinson, T & Waters, A (1987), English for Specific Purpose: A Learning – centred Approach, Cambridge University Press
15 Jamshidi, T (2013), Textbook Evaluation for the Students of Speech Therapy,
Advances in Languages and Literary Studies, Vol 4 No 2
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18 McDonough, J & Shaw, C (2003), Materials and Method in ELT: A Teacher‟s Guide, Wiley Blackwell
19 McGrath, I (2002), Materials Evaluation and Design for Language Teaching,
20 Nemati, A (2009), Evaluation of an ESL English Coursebook: A Step towards Systematic Vocabulary Evaluation, Kamla – Raj, J Soc Sci 20(2), pp 91-99
21 Robinson, P C (1991), ESP today: A practitioner's guide, New York: Prentice Hall
22 Sheldon, L (1988), Evaluating ELT Textbooks and Materials, ELT Journal, 37, pp
23 Tomlinson, B (1998), In Tomlinson, B (Ed.), Materials Development in Language Teaching, Cambridge: Cambridge University Press
24 Nguyễn Thi ̣ Thảo (2013), An Evaluation of the Coursebook „English for
Pharmaceutical Course‟ for the Second -Year Students at Văn Hiến Medical and Pharmaceutical University, VNU-ULIS
25 Lương Thi ̣ Minh Thu (2013), An Evaluation of the ESP Coursebook for Second-Year
Students at Marine Engine Department, Vietnam Maritime University, VNU-ULIS
26 Yan, C (2007), Investigating English Teachers‟ Materials Adaptation, retrieved from www.hltmag.co.uk/jul07/mart01.rtf on March 28 th 2014
APPENDIX 1 Phiếu khảo sát sinh viên khoa Tài chính kế toán đã tốt nghiệp và hiện đang làm việc tại các doanh nghiệp khác nhau
Phiếu khảo sát này được thiết kế để thu thập ý kiến từ sinh viên khoa Tài chính kế toán đã tốt nghiệp và hiện đang làm việc tại các doanh nghiệp khác nhau, nhằm đánh giá chất lượng giáo trình đào tạo.
Chương trình "English for Finance" tại trường Đại học Hà Hoa Tiên cung cấp thông tin cần thiết cho nghiên cứu của tôi về tính phù hợp của giáo trình Tiếng Anh chuyên ngành kế toán với mục tiêu môn học Những thông tin này sẽ được sử dụng cho mục đích nghiên cứu duy nhất và tôi mong bạn trả lời đầy đủ và chính xác các câu hỏi hoặc đánh dấu () vào ô bạn chọn.
Xin chân thành cảm ơn!
3 Bạn đã đang làm việc ở vị trí nào? ………
4 Bạn có sử dụng tiếng Anh chuyên ngành trong công việc của mình không?
II Ý kiến đánh giá của bạn
Bạn hãy đọc những câu dưới đây và chọn câu trả lời gần nhất với ý kiến của bạn bằng cách đánh dấu () vào ô mà bạn chon
Hoàn toàn đồng ý Đồng ý Ý kiến trung lập
1 Nội dung ngữ pháp, từ vựng, đọc hiểu tiếng Anh và luyện dịch của giáo trình rất có ích cho công việc hiện nay của bạn
2 Giáo trình đã giúp bạn luyện đọc hiểu và dịch tiếng Anh trong lĩnh vực tài chính kế toán
3 Bạn được luyện thực hành ngữ pháp tiếng Anh khi học tiếng Anh chuyên ngành
4 Công việc hiện nay của bạn cần giao tiếp khẩu ngữ tiếng Anh liên quan đến lĩnh vực chuyên ngành
5 Việc giáo trình chú trọng nhiều vào kỹ năng đọc hiểu, từ vựng chuyên ngành, và ngữ pháp là phù hợp, vì công việc của bạn không cần phải giao tiếp khẩu ngữ tiếng
6 Bạn ít có cơ hội luyện kỹ năng viết tiếng
Anh khi học giáo trình “English for finance”
7 Các chủ đề được đề cập tới trong giáo trình gắn liền với công việc hiện nay của bạn
8 Một vài chủ đề đươ ̣c nêu trong giáo trình không liên quan nhiều lắm đến công việc hiện nay của bạn
Hãy nêu một vài ví dụ về một số chủ đề không liên quan nếu bạn chọn đồng ý/hoàn toàn đồng ý : ………
9 Các bài đọc hiểu giúp bạn hiểu thêm các khái niệm chuyên ngành, quy trình, thao tác nghiệp vụ kế toán
10 Các chủ đề về ngữ pháp tiếng Anh được đề cập tới trong giáo trình phù hợp với nhu cầu của bạn
Chân thành cảm ơn sự hợp tác của bạn!
APPENDIX 2 Phiếu khảo sát sinh viên năm thứ hai khoa Tài chính kế toán
Phiếu khảo sát này được thiết kế để thu thập ý kiến của sinh viên năm thứ 2 khoa Tài chính kế toán về giáo trình tiếng Anh chuyên ngành mà họ vừa hoàn thành Thông tin bạn cung cấp là rất cần thiết và quan trọng, giúp làm cơ sở cho những kết luận xác đáng trong nghiên cứu của tôi về mức độ phù hợp của giáo trình Tiếng Anh chuyên ngành kế toán với mục tiêu môn học Những thông tin này sẽ chỉ được sử dụng cho mục đích nghiên cứu này Xin vui lòng trả lời đầy đủ và chính xác các câu hỏi hoặc đánh dấu () vào các ô bạn chọn.
Xin chân thành cảm ơn!
1 Giới tính: Nam: Nữ:
3 Bạn đã học tiếng Anh được bao lâu rồi? ……… năm
Bạn hãy đọc những câu dưới đây và chọn câu trả lời gần nhất với ý kiến của bạn bằng cách đánh dấu () vào ô mà bạn chon
Hoàn toàn đồng ý Đồng ý Ý kiến trung lập
1 Giáo trình tiếng Anh trang bị cho bạn vốn từ vựng chuyên ngành
2 Giáo trình giúp bạn củng cố và nâng cao kiến thức ngữ pháp tiếng Anh
3 Giáo trình giúp bạn thực hành luyện kỹ năng đọc hiểu, dịch tiếng Anh trong lĩnh vực tài chính kế toán
4 Giáo trình giúp bạn thực hành kỹ năng giao tiếp khẩu ngữ trong lĩnh vực tài chính kế toán
5 Bạn có cơ hội được luyện kỹ năng viết tiếng Anh khi học giáo trình này
6 Hầu hết các chủ đề được đề cập đến trong giáo trình gắn liền với kiến thức chuyên ngành của bạn
7 Các dạng bài đọc hiểu trong giáo trình không đa dạng và nhàm chán
8 Các câu hỏi đọc hiểu mang tính suy luận và đòi hỏi vận dụng nhiều đến kiến thức nền trong lĩnh vực tài chính kế toán
9 Các bài tập liên quan đến từ vựng và ngữ pháp đa dạng, tạo hứng thú cho người học
10 Các bài tập đều có những gợi ý, hướng dẫn cụ thể giúp người học có thể vận dụng để thực hiện các yêu cầu của bài
11 Cuối mỗi phần, hoặc mỗi bài đều có gợi ý giúp bạn có thể thực hành thêm, hoặc đọc thêm
Chân thành cảm ơn sự hợp tác của bạn!
APPENDIX 3 The teachers’ views on the ESP coursebook in terms of aims, contents, and methodology as stated in the interviews
1 The teachers‟ opinions toward the coursebook in terms of aims
The coursebook provides students opportunities to………
1 Communicate orally in English in the area of financial accounting
Comprehensively read English documents relevant to financial accounting
Comprehensively make English written documents relevant to financial accounting
4 Improve knowledge in English grammar
5 Enrich English vocabulary in financial accounting
6 Present topics of financial accounting in
Key: = mentioned by the teacher
= not mentioned by the teacher
2 The teachers‟ opinions toward the coursebook in terms of of contents
1 Students are provided with topics closely related to their major
The course units should be organized in a way suitable to the students‟ needs and quality
Key: = mentioned by the teacher
= not mentioned by the teacher
3 The teachers‟ opinions toward the coursebook in terms of methodology
Students find it difficult to answer reading comprehension questions They are more motivated with multiple choices and true/false tasks
Students have been not motivated with grammar and words study‟s individual works
3 There should be specific guidance and suggestions for further study
Key: = mentioned by the teacher
= not mentioned by the teacher
APPENDIX 4 Recommended samples for adapting the coursebook
Write a brief description (no more than 300 words) about economics beginning with the following sentence, using structures of simple sentence:
“Economics is defined as a study of how goods and services get produced, and how they are distributed.”
- A compound noun is a noun composed of two or more words that are used together to form a single noun
- Some basic structures of noun compounding method
Noun + Noun: sales manager: giám đốc bán hàng Adjective + noun: distressed-sale: nhu cầu bán gấp Preposition + noun: by- product: phụ phẩm
Noun + preposition + noun: cost of capital: chi phí vay vốn door to door (service): dịch vụ tận nơi Noun + preposition: bail out: cứu trợ tài chính
Noun + verb_er: share-holder: cổ đông been-counter: kế toán
To accurately translate nouns, it's essential to begin with the last word or to consider the context for proper understanding For instance, an "executive search company" refers to a firm that specializes in finding executives, while a "government training course" denotes a training program offered by the government.
Task 1: In pairs, work out the meanings of these following compound nouns, you can use your dictionary if necessary
Task 2: Work with your partner and translate the following sentences from English to Vietnamese and vice versa
27 An economic system is supposed to be regulated by the law of supply and demand
28 Economics is about the everyday things of life, how we get our living, and why sometimes we get more and sometime less
29 I can also report that manufacturing grew last year by 1.6%, manufacturing productivity grew by 4.4%
30 Giám đốc tài chính có vai trò quyết định trong việc đưa ra các chiến lược định giá sản phẩm
31 Kinh tế học nghiên cứu cách thức đưa ra các quyết định của các thành viên tham gia vào nền kinh tế
Cost accounting is essential for accurately determining the costs associated with products, processes, and projects, which ensures precise reporting on financial statements It plays a crucial role in aiding management with decision-making, as well as in the planning and control of an organization.
Cost accounting plays a crucial role in determining the unit cost of a manufacturer's products, which is essential for accurately reporting inventory on the balance sheet and the cost of goods sold on the income statement It employs various techniques, including the allocation of manufacturing overhead, process costing, operations costing, and job-order costing systems By analyzing cost behavior, cost-volume-profit relationships, and facilitating operational and capital budgeting, cost accounting provides valuable insights for management Additionally, it encompasses standard costing, variance analyses for costs and revenues, transfer pricing, and activity-based costing, enhancing overall financial decision-making.
Cost accounting, originally developed for manufacturing industries, has now expanded its application to service businesses For instance, banks utilize cost accounting to assess the expenses associated with processing customer transactions, such as checks and deposits This information aids management in making informed decisions regarding the pricing of their services.
(extracted from an online article retrieved from www.businessdictionary.com/definition/cost-accounting.html)
What is accounting for sales discount?
A sales discount is a strategic pricing tactic where a seller offers a reduced price on a product or service in exchange for prompt payment from the buyer By providing a sales discount, the seller can address cash flow shortages or minimize outstanding receivables, ultimately streamlining their financial operations.