ACCOUNTING EDUCATION INNOVATIONS IN DEVELOPING COUNTRIES - LESSONS FOR VIETNAM

Abstract

Vietnamese Accounting Standards and guidelines for preparing financial statements are not sufficient to provide transparent financial reports that accurately reflect the financial and business situation of the organization, not to create confidence in the financial statements for foreign investors. Recognizing these shortcomings, Vietnam is considering a road map for the application of International Financial Reporting Standards (IFRS), to remove barriers to transparency of financial reporting and to attract foreign investment. It helps for catching up and quickly integrating internationally. In order to do this, it requires the participation of various roles from the standard issuer (Ministry of Finance), professional accountants, accountants of each enterprise and many individuals, specially the importance roles of accounting educators.
Strengthening accounting and auditing education is one of the pillars of capacity building for implementing standards and guidelines for making financial reports, enhancing the application of international standards at different countries. In order to take on this great role, accounting educator is required for appropriate innovation. For purpose of learning the innovation experience of accounting education in countries around the world, this paper summarizes the change of accounting education to fit the practice of applying IFRS standards, case study in two countries: China and Ukraine, and give some lessons for the innovation of accounting education in Vietnam.