Abstract

The modern business world relies heavily on financial strategy, vision, and their implementation. Accounting is a crucial step in this process because the modern corporate world places a lot of emphasis on their financial strategy and it is part of it. The International Financial Reporting Standards (IFRS), one of the most significant standards implemented in 2001, are one of the frameworks that have been built over time to govern and standardize accounting procedures. However, the approach to accounting education has been revolutionized and has given rise to the digitalization of accounting learning because of technology’s rapid development, particularly in the areas of information and communication.

With a specific focus on Generation Z students, who were born after 1997 and are characterized by early exposure to technology, short attention spans, multitasking skills, and a preference for instant feedback, this research paper aims to explore the prospects and challenges of digitalizing accounting education. The goal is to pinpoint methods for improving the caliber and efficacy of online accounting education and to address the challenges that Generation Z students in this digital age encounter

The first step in the study is to emphasize the significance of accounting digitalization owing to digital improvements, and its impact on the future of accounting professionals. We present an overview of the unique obstacles that the Generation Z students face as they develop their sense of identity and belonging in society. In the meantime, the literature review section explores the findings and research that can serve as a steppingstone to an efficient and optimized digitalization process. The mixed approach of both quantitative and qualitative data used is described in the methodology section.

The study’s conclusion highlights how crucial it is to modernize and enhance accounting instruction in order to prepare students for successful careers. To deliver an efficient and interesting accounting education, it’s critical to use digital learning methodologies, update course material, and take into account Generation Z students’ particular needs. Accounting educators and institutions can better educate students for the dynamic world of accounting and finance by adjusting to the demands of technology and the workforce.

Keywords: Accounting; Digitalization; Gen Z