Rationale
In the article “Today’s Students’ Gaps in English for Specific Purposes” published in Labor newspaper, 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 ESP training, which leaves them unable to read specialized English documents or translate essential transaction documents between Vietnamese and English, leading to professional stagnation Similarly, Mạnh Trường (2014) reported that the lack of ESP knowledge poses significant challenges for Vietnamese graduates seeking promotions, particularly in foreign direct investment companies.
The facts presented prompt educational institutions and educators to evaluate the relevance of their English for Specific Purposes (ESP) training programs in meeting the evolving demands of today's job market According to Dudley-Evans and St John (1998), it is crucial for ESP practitioners to conduct follow-ups with students post-course to assess the practical application of their learning and identify any areas where students felt unprepared.
Since its inception in 2007, the Faculty of English Language at HHT University has developed several English for Specific Purposes (ESP) coursebooks, notably one focused on Financial Accounting This particular ESP coursebook has been implemented for the second-year Financial Accounting students to enhance their learning experience.
In 2009, a course was introduced to equip students with English vocabulary pertinent to their majors and enhance their employability skills However, the suitability of the coursebook in relation to the course syllabus remains a significant concern for the university's management board and ESP teachers This study on the evaluation of the ESP coursebook aims to address this issue and provide valuable insights for improvement.
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
The article seeks to provide recommendations for enhancing the coursebook to improve its effectiveness for future university courses It aims to assist the university's management in addressing concerns regarding the preparedness of financial accounting students for future employment in the field of English for Specific Purposes (ESP) and their ability to apply the knowledge gained from the course.
Scope of the study
When evaluating a coursebook, several criteria must be considered, including the target audience, physical design, 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 financial accounting graduates to apply their knowledge from the English for Specific Purposes (ESP) course The central 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 to investigate the opinions and attitudes of current students and graduates through both quantitative and qualitative data A survey questionnaire was employed to gather essential information, complemented by informal interviews with three ESP teachers to enhance understanding of the participants and their learning conditions.
Significance of the study
This study's findings will be advantageous for students, ESP teachers, and university administrators by offering crucial insights into the needs, attitudes, and opinions regarding the current ESP materials By understanding the challenges and strengths associated with these materials, ESP teachers can refine their lessons—adjusting aims, content, and methodology—to effectively meet course objectives and better equip students for their future careers.
This study will inform future actions by university administrators regarding investments in ESP teaching materials and contribute to ongoing efforts to encourage additional 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 material adaptation; 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 coursebook performance, 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 specific educational needs Evaluation is crucial in determining how well these courses fulfill their intended purpose According to Alderson and Waters (1983), there are four key aspects of ESP course evaluation, with an additional aspect identified by Hutchinson and Waters (1987) that should also be taken into account.
1.1.1 What is meant by evaluation?
Evaluation, as defined by Dudley-Evans and St John (1998), is the process of establishing effectiveness through questioning and responding Hutchinson and Waters (1987) further refine this definition by emphasizing the importance of matching needs to available solutions, highlighting that evaluation should be conducted as objectively as possible According to Brown (1989), coursebook evaluation involves systematically collecting and analyzing relevant information to enhance curriculum quality This process also assesses the curriculum's effectiveness and efficiency, as well as the attitudes of participants within the educational context.
Evaluation is a systematic process that assesses the appropriateness and usefulness of a coursebook's content, language focus, and methodology for learners It is crucial to consider the opinions of both ESP teachers and learners to ensure that their needs and goals align with the objectives outlined in the coursebook.
1.1.2 Why should the evaluation be carried out?
Coursebook evaluation is essential for several reasons, as highlighted by Sheldon (1988) The choice of a textbook reflects significant professional, financial, and political investments in education Through evaluation, teachers can better understand the strengths and weaknesses of available coursebooks Ellis (1997) emphasizes that evaluating teaching materials helps educators select the most suitable resources before the course begins and determines whether to continue using existing materials or replace them with better options after a period of use.
Coursebook evaluation is a complex yet essential activity for classroom teachers, supervisors, and administrators, as it guides teaching and learning processes This evaluation measures the validity and reliability of teaching techniques, aids in creating more effective instructional materials, and helps teachers identify students' needs Ultimately, it encourages students to engage in their studies and provides significant support to teachers.
1.1.3 When should the evaluation be occurred?
Evaluation in an English for Specific Purposes (ESP) course can occur before, during, or after the course Robinson (1991) refers to the initial evaluation as preliminary evaluation, while McGrath (2002) calls it pre-use evaluation, emphasizing its role in assessing the potential effectiveness of a textbook for future performance.
McGrath refers to the evaluation of the current textbook during the ongoing course as in-use evaluation (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 a series of mini-evaluations that facilitate essential modifications to the course, including updates to materials and textbooks.
Robinson distinguishes 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 creating 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 subjective assessments Chambers (1997) emphasizes the importance of empirical evaluation, highlighting its focus on being time-efficient and clearly structured.
However, Sheldon (1988: 241-245) provides the evaluator with more concise
When selecting and evaluating texts, it is essential to consider "common-core factors" that include practical criteria such as "guidance" on material usage for teachers and students, as well as "flexibility" regarding the preparation required by educators Incorporating visual and financial criteria can also enhance the relevance for evaluators Hutchinson and Water (1987) advocate for a rational checklist approach to evaluating English for Specific Purposes (ESP) courses, offering a less exhaustive alternative to Sheldon’s checklist, which allows for the inclusion of additional important criteria They propose a four-step evaluation process comprising defining criteria, subjective analysis, objective analysis, and matching Their approach emphasizes that evaluation criteria should be presented in a way that facilitates easy comparison between different materials, with subjective analysis serving as a standardized set of requirements.
ESP course evaluation can be conducted through various methods, including simulations and suggestion boxes, as outlined by Hutchinson and Waters (1987) In practice, however, most evaluations rely on techniques such as test results, questionnaires, discussions, interviews, and informal feedback like unsolicited comments and causal charts The choice of evaluation method should be tailored to fit the specific teaching context effectively.
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 materials to foster a sense of ownership over decisions made The level of participation may differ among stakeholders, but key participants typically include the ESP teaching institution, ESP teachers, learners, and course sponsors (Hutchinson and Waters, 1987) Furthermore, Hutchinson and Waters highlight that evaluation is influenced by individuals' perceptions of value, which can vary based on their specific interests and concerns Ultimately, the choice of who to consult and the methods used for 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 designed to assist language learners These materials can take various forms, including 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 delivers essential materials for a course Typically, these core materials are paper-based and serve as a primary source of language and learning support, as well as providing motivation and reference for students (Dudley-Evans and St John, 1998: 170).
Materials Adaptation
1.3.1 Definition and principles of materials adaptation
Adaptations refer to specialized teaching and assessment strategies tailored 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 the importance of utilizing assigned textbooks effectively, describing adaptation as the process of extending or exploiting existing materials to suit specific teaching contexts His work highlights the need to evaluate the benefits and drawbacks of textbooks, ultimately aiming for their adaptation in foreign teaching environments.
According to Grant (1987), effective materials adaptation involves several key principles: firstly, dialogues should be communicative to enhance interaction; secondly, learning activities must be relevant and purposeful to engage students; thirdly, it is essential to address learners' needs, both external and psychological; and lastly, incorporating models of real, authentic language is crucial for meaningful learning experiences.
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 that the primary focus of materials adaptation should be on fulfilling the needs and preferences of students.
Adaptation in teaching requires the supplementation of textbooks with additional materials Authentic resources are often preferred over non-authentic ones, as they enhance the learning experience Teachers who prioritize gathering authentic materials find it easier to adapt their textbooks effectively This is particularly relevant in English Language Teaching (ELT) contexts, where access to authentic English materials may 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 involves the opposite process of addition, encompassing techniques like subtraction, which reduces content quantitatively without altering its methodology, and abridgement, which affects 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 a different presentation sequence within a unit or the adjustment of unit order from the originally intended layout.
Maley (1998) outlines several strategies for teachers to adapt materials, such as omission, addition, reduction, extension, rewriting, modification, replacement, reordering, and branching In practice, language teachers typically select a few of these techniques for each lesson unit, using them either individually or in combination based on their specific goals for adapting the teaching materials.
Previous studies
Numerous studies have focused on coursebook evaluation, particularly in the context of English for Specific Purposes (ESP) Notably, Nemati's 2009 study, published in a language journal, offers a systematic approach to vocabulary evaluation Additionally, Jamshidi's 2013 research assessed an ESP textbook for speech therapy students, utilizing McDonough and Shaw's evaluation framework This analysis indicated that while the textbook was generally suitable, it required modifications and supplementary materials to effectively address the needs of computer science students In contrast, Baleghizadeh and Rahimi conducted a different evaluation approach.
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 tailored 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 a few notable evaluations of ESP coursebooks, including studies on geography engineering by Nguyễn Thị Kiều Giang and tour guiding by Ngô Thị Mỹ Bình.
In 2013, several evaluations were conducted on ESP coursebooks across various fields, including marine engineering (Lương Thị Minh Thu), pharmaceuticals (Nguyễn Thị Thảo), and economics and business management (Nguyễn Thị Mai Hương) These studies share a common methodology, utilizing Hutchinson and Water's four major steps of evaluation, and focus on summative assessments.
Research on evaluating English for Specific Purposes (ESP) coursebooks for financial accounting has been limited Specifically, at Hà Hoa Tiên University, there has yet to be any assessment of coursebooks, both in general and for ESP materials.
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 enhance the effectiveness of the evaluation process, the study adapts a checklist proposed by Hutchinson and Water, ensuring a rational and systematic approach to coursebook assessment.
RESEARCH METHODOLOGY
Context of the study
The study was conducted at Hà Hoa Tiên (HHT) University, a private institution established seven years ago in Hà Nam province With a total student population of 421, the university has 219 students enrolled in the financial accounting program HHT 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 a mandatory program for FOFA students in their third and fourth semesters, following 120 credit hours of English for General Purposes (EGP) completed in the first two semesters This course aims to develop students' English reading comprehension and translation skills, enhance their grammar knowledge, and equip them with technical vocabulary related to economics, finance, banking, accounting, marketing, and business administration Upon completion, students are expected to proficiently read and translate financial documents between English and Vietnamese, as well as create transaction documents in English, ensuring they meet the skill requirements for their future careers.
Since its introduction at the university in 2009, the coursebook "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 English for Specific Purposes (ESP) course tailored for FOFA's second-year students, only twenty of these units have been selected, with the first stage focusing on ten units that cover economics and money and banking topics.
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 inception in 2009, the faculty has been actively teaching English for General Purposes (EGP) and English for Specific Purposes (ESP) through both permanent and temporary staff, with permanent staff handling approximately 70% of the teaching responsibilities Among them, three permanent ESP instructors focus on teaching second-year Financial Accounting students However, the university currently lacks a fully equipped English language lab, relying mainly on two CD players and a coursebook for ESP instruction Unfortunately, the coursebook does not include listening tasks, rendering the CD players ineffective for enhancing listening skills.
The study involved 53 second-year financial accounting students, aged 22 to 23, who recently completed their English for Specific Purposes (ESP) course The participants, comprising both male and female students, 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 three female educators, all 35 years old, who have taught second-year students using the specified material Each has at least one year of experience in teaching English for Financial Accounting, despite not majoring in the subject Among them, 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
The survey aimed to evaluate the ESP coursebook based on feedback from 53 second-year students who recently completed the course and 13 graduate students with prior ESP experience at Hà Hoa Tiên University It consisted of two parts: the first gathered participants' personal information, while the second employed a Likert scale with five options ranging from strongly agree to strongly disagree to assess opinions on the coursebook The findings were utilized to evaluate 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, content, and methodology These discussions took place at mutually agreed-upon times and locations, ensuring convenience for the teachers 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 following their lessons, where they were asked to complete them during class time For the graduate group, the questionnaires were sent 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 any questions they had to ensure a clear understanding of the survey We collected a total of 53 completed questionnaires and maintained communication with 13 selected participants from the graduated group to ensure timely submission Additionally, we provided clarification on the questions as needed, resulting in the successful collection of 13 questionnaires 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 based on the perceptions of targeted second-year students, graduate students, and ESP teachers This phase aimed to explore their opinions and attitudes regarding the coursebook's aims, content, and methodology The findings were presented using various tables to clearly illustrate the results.
The final stage involved comparing the outcomes of objective and subjective analyses to assess the coursebook's alignment with the course objectives This evaluation 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 involves 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 a descriptive strategy 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 additional elements such as prerequisites, time allocation, grading plans, or the tentative schedule, these aspects may require further exploration in the future.
- 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 points of English grammar, including the use of "as if" clauses, the distinction between passive and active voices, and the formation 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, the use of "must" and "have to", and the infinitive of purpose Furthermore, the article addresses prepositions of amount and difference, as well as defining and non-defining relative clauses, adjective modification, and the use of prefixes.
This program aims to enhance students' English reading comprehension and translation skills, focusing on financial accounting terminology By facilitating the translation between English and Vietnamese, students will be equipped to read and interpret English reference materials, thereby enriching their knowledge and preparing them for future employment opportunities in the field.
- 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 respondents—73.58%, 94.34%, and 66.04%—agree that the coursebook enhances their English vocabulary, offers training in reading comprehension and translation within financial accounting, and improves their grammar skills Additionally, graduated students strongly affirm that the skills acquired through the English for Specific Purposes (ESP) program, including reading comprehension, vocabulary, grammar, and translation, are highly beneficial for their professional endeavors The detailed statistical data supporting these findings is illustrated in the accompanying table.
Table 2: Statistics on the 13 graduated students’ opinions towards the statement 1 (appendix 1)
A mere 7.7% of graduates felt they did not benefit from the ESP course, while 15.38% remained neutral on the matter Notably, 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 with the coursebook's focus on English reading comprehension, vocabulary, grammar, and translation, deeming it socially acceptable and aligned with their job requirements This finding is further supported by interviews conducted with three ESP teachers, reinforcing the relevance of the course material to current professional needs.
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 (appendix 3) reveals that only one participant acknowledged the coursebook's provision of opportunities for practicing English oral communication, while none mentioned any opportunities for English writing comprehension training Additionally, few graduated students felt they had received sufficient training in English writing comprehension through the coursebook, as illustrated by the statistics 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 expressed a viewpoint contrary to that of the interviewed teachers In contrast, a significant 83.02% of second-year students aligned with the perspectives of both the majority of graduates and the interviewed educators, as illustrated in Table 3.2.1.1.
In the interview, all three participating teachers agreed that their students were given topics closely aligned with their major, a sentiment echoed by 69.81% of the undergraduate students surveyed, totaling 37 out of 53 respondents 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 data reveals that only 13.21% of second-year students disagreed with the statement, indicating a strong consensus among them In contrast, the survey results from the graduated group highlight that a significant number still perceive certain topics as unrelated to their current jobs.
Table 6: Statistics on the 13 second year students’ opinions towards the statements 7 and
Nearly 70% of students indicated that the majority of 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 have reported that their students struggle with answering reading comprehension questions from the coursebook (interview report, appendix 3) In line with this observation, second-year students expressed their perspectives, as illustrated 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
Approximately 80% of students believe that a solid background in financial accounting is essential to tackle related questions Additionally, a significant 90.56% of students find reading comprehension exercises tedious and repetitive Interviews with teachers reveal that students exhibit 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 undergraduate group unanimously agreed with statement 9, as illustrated in the table below (appendix 2).
Table 8: Statistics on the 53 second year students’ opinions towards the statement 9 (appendix 2)
The data reveals that 33 out of 53 students found the grammar and vocabulary exercises to be diverse and motivating, indicating a positive response towards the tasks Conversely, 15.09% of the participants expressed strong disagreement with this assessment.
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 data indicates that none of the participants believed the coursebook offers guidance or suggestions for further study at the end of each unit, with only 9.34% expressing a neutral opinion Additionally, just two out of 53 students agreed that the coursebook provides specific instructions for task completion This prevalent disagreement among students aligns with the feedback from interviewed teachers, who emphasized the necessity for specific guidance and study suggestions, as noted in the interview report (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 focuses on English reading comprehension and translation, it lacks sufficient training in both informal and formal writing, offering only grammar exercises for sentence construction and verb tense As a result, students have limited opportunities to practice writing, which may hinder their ability to create essential documents such as business emails, transaction reports, and financial analyses This deficiency could adversely affect their career advancement, as they may struggle to meet their future employers' expectations Thus, the coursebook is considered only partially suitable for the course objectives.
3.3.2 Suitability of the coursebook in terms of contents
While the coursebook covers topics relevant to students' background in financial accounting, some subjects are deemed unrelated to their future roles in the field For example, the process of communicating a product's value to customers is primarily a marketing function, not an accounting responsibility Additionally, setting prices is generally outside the purview of accountants; in small businesses, pricing decisions are made by top management, while in larger firms, divisional and product-line managers typically handle pricing Consequently, accountants do not play a role in price setting.
The coursebook topics are generally understandable for financial accounting 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 related to these topics for their current or future professional documentation needs In summary, 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 for further study and practice.
The survey results indicate that while grammar and vocabulary exercises in the coursebook are engaging and varied, the reading comprehension tasks, particularly open-ended questions, are perceived as monotonous and challenging due to the need for specialized knowledge in financial accounting This lack of engagement in reading comprehension tasks demotivates students, leading to a less participative learning environment and diminishing the effectiveness of training in English reading comprehension skills Consequently, the course's goal of enabling students to read English documents in financial accounting comprehensively is at risk of not being achieved.
The survey results indicate a strong interest among students in teamwork and pair work, suggesting that incorporating these teaching techniques into the coursebook could enhance the effectiveness and efficiency of ESP training lessons However, the coursebook lacks specific guidance on teaching methods and suggestions for further study, which are essential for helping students complete tasks more easily and effectively Providing this guidance would also enable teachers to minimize time-consuming activities in the classroom.
Recommendations for the coursebook’s adaptation
The coursebook generally aligns with the course objectives in several areas, but there are aspects where it falls short To enhance student engagement and motivation, adapting the coursebook will be an effective strategy 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 various forms of formal and informal writing pertinent to financial accounting This knowledge will enable them to create specialized documents relevant to their field.
To better meet students' needs, it is essential to adapt the course materials by incorporating English writing comprehension and translation training, as the current coursebook lacks these components For example, integrating these elements into Unit 1 - Economics (ESP Stage 1) can enhance the learning experience, as demonstrated 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 bridge the gap between course materials and the specific needs of finance and accounting students, supplementing the curriculum is an effective strategy This approach will be integrated into the Stage 2 ESP course, utilizing short reading texts from samples 2 and 3 (appendix 4) to enhance the content of Unit 1 - What is Accounting? These additional readings will provide students with more opportunities for reading comprehension practice, alleviating boredom associated with monotonous topics.
Reorganizing the coursebook to align with students' needs is essential for effective learning This involves prioritizing content based on topic popularity, reading text length, and the complexity of exercises Additionally, placing more engaging material at the forefront can enhance student interest and motivation, ensuring a more tailored educational experience.
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 background knowledge rather than the information presented in the texts, which can lead to a lack of motivation To enhance student engagement, simplification of these tasks can be achieved by providing hints or suggestions This approach aims to make it easier for students to tackle the assignments For instance, Sample 4 (Appendix 4) illustrates how to simplify the reading comprehension tasks in Unit 4, focusing on 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 effectively implemented In Unit 1 of the ESP Stage 2 course, titled "What is Accounting?", the reading section will be enhanced with 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 ESP course in stage 1, as well as most units in stage 2, to reduce difficulty and alleviate student stress during reading tasks This involves dividing the texts into manageable sections and editing the reading comprehension exercises to align with the modified content.
Reading comprehension exercises should be tailored to connect with students' background knowledge and the reading texts; otherwise, they may need to be replaced with more suitable alternatives A notable example is the reading comprehension exercise from Unit 2 – The Balance Sheet in the ESP course of Stage 2, which may be too challenging for students and could benefit from replacement with multiple-choice and matching tasks, as illustrated in Sample 6 (Appendix 4).
Modification of instructions enhances clarity and direction for students, enabling both teachers and students to use classroom time more efficiently By clearly outlining teaching and learning techniques, such as “In pairs, read the text again, map the structure of the balance sheets, draw it out, and then describe your findings to the class,” students can quickly understand the task requirements This approach allows for a more streamlined learning process, ensuring that students know exactly what to do and how to complete their assignments effectively.
To address the coursebook's insufficient recommendations for additional study, it is beneficial to include suggestions for further reading that enhance students' understanding of key concepts, procedures, and processes Additionally, incorporating extra practice activities at the end of each section or unit can provide students with valuable opportunities for reinforcement and skill development.
Chapter summary
The coursebook was evaluated through objective analysis, incorporating feedback from second-year students, graduates, and three ESP teachers regarding its aims, content, and methodology Additionally, a subjective analysis provided a deeper understanding of the course objectives The comparison of these analyses revealed a misalignment between the coursebook and the course objectives Consequently, recommendations were made to adapt the coursebook, aiming to bridge the gap in aims, content, and methodology.
Recapitulation
The management board and English teachers at Hà Hoa Tiên University are increasingly concerned about the inadequate English proficiency of young employees, particularly in English for Specific Purposes (ESP), which hinders their job promotion opportunities They question the suitability of the existing ESP coursebook for second-year financial accounting students and whether it aligns with their course objectives Additionally, there are concerns about the practical application of the ESP skills learned by students in their future careers, prompting the need for this current study.
The theoretical framework of this study addresses five key questions regarding the evaluation of English for Specific Purposes (ESP) courses: the definition of evaluation, its purpose, timing, methodology, and the stakeholders involved in the process Additionally, it examines concepts related to educational materials, including coursebooks, textbooks, and the adaptation of these materials for effective teaching.
To deal with the research question, “How suitable is the coursebook “English for
A study was conducted to evaluate the coursebook "Finance" for second-year financial accounting students at Hà Hoa Tiên University, focusing on its alignment with course objectives through a survey research approach Utilizing questionnaires based on Likert scales and informal interviews with 69 participants, the research employed summative evaluation to identify areas for improvement in future iterations of the course The evaluation process followed the framework established by Hutchinson and Waters, with an adapted checklist for analysis By comparing subjective perceptions of the course objectives with an objective assessment of the coursebook, key findings regarding the coursebook's suitability were identified, leading to recommendations for its adaptation.
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 align with its objectives, as it offers limited training in English writing comprehension, which is essential for preparing students to create business transactional documents for future employment However, the coursebook demonstrates strengths by providing opportunities for students to practice comprehensive reading skills, translation abilities, and expand their vocabulary with financial accounting terminology, while also enhancing their grammar knowledge in English.
The evaluation of the coursebook focuses on the alignment of its topics with the course objectives The findings indicate that while most topics are comprehensible for financial accounting students, some do not directly relate to their future accounting practices.
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, this deficiency may hinder students' motivation and success in developing their English reading comprehension skills, ultimately undermining the course's objectives.
The coursebook presents both strengths and weaknesses regarding its aims, content, and methodology in relation to the course's objectives While it has potential for future English for Specific Purposes (ESP) courses at Hà Hoa Tiên University, enhancements are needed to make lessons more engaging and relevant to second-year students' future careers in accounting To effectively achieve the course objectives, improvements should focus on language components, reading topics, exercise types, and guidance for further study and practice, as suggested in the study.
Limitations of the study
The evaluation results were based on the opinions and attitudes of only 69 participants, which is a limited sample size Consequently, the data collected from these graduated students may not provide sufficient insight for the researcher to determine the extent to which students can apply what they learned in the English for Specific Purposes (ESP) program and identify any areas they were inadequately prepared for.
The study primarily focused on the course objectives, neglecting the specific needs of coursebook users in its evaluation of suitability Furthermore, the checklist utilized lacked comprehensiveness, failing to encompass additional criteria outlined by Hutchinson and Waters Consequently, the findings may not provide a thorough and insightful assessment, and the evaluation results could vary significantly if other relevant 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 its own unique strategies and teaching conditions, leading to variations in student learning styles, goals, interests, and initial 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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17 McDonough, J & Shaw, C (1993), Evaluating ELT Materials, Materials and Methods in ELT – A Teacher‟s Guide, Blackwell
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 của 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.
Bài viết này tập trung vào việc sử dụng “English for Finance” mà sinh viên đã học tại trường Đại học Hà Hoa Tiên Thông tin bạn cung cấp rất quan trọng và cần thiết, đóng vai trò là cơ sở để đưa ra những kết luận xác đáng trong nghiên cứu của tôi về đánh giá mức độ phù hợp của giáo trình Tiếng Anh chuyên ngành kế toán với mục tiêu của môn học Những thông tin này sẽ chỉ được sử dụng cho mục đích nghiên cứu của tôi Vui lòng 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 nhằm 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 rất cần thiết và quan trọng, sẽ là cơ sở để rút ra 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 của tôi 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, begin with the last word or take the context into account for precise meanings For instance, an "executive search company" refers to a firm specializing 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 encompasses methods for calculating the costs associated with products, processes, and projects, ensuring accurate 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 costs on the balance sheet and the cost of goods sold on the income statement This process involves techniques such as allocating manufacturing overhead costs and employing various costing systems, including process costing, operations costing, and job-order costing Additionally, cost accounting supports management by analyzing cost behavior, understanding cost-volume-profit relationships, facilitating operational and capital budgeting, implementing standard costing, conducting variance analyses for costs and revenues, managing transfer pricing, and utilizing activity-based costing.
Cost accounting originated in manufacturing but has now expanded to service industries For instance, banks utilize cost accounting to assess the expenses involved in processing customer checks and deposits, which aids management in setting appropriate service pricing.
(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 price reduction provided by the seller to incentivize early payment from the buyer This discount may be utilized by sellers facing cash flow issues or seeking to decrease their outstanding receivables for various reasons.