Academic Accounting System in Higher Education

Abstract

Academic Accounting System was introduced more than hundred years ago in the United Stated to quantify schooling and provide a means of measuring what is learned in 1890s. Now, it includes capturing various organizational arrangements for instruction, measuring cost per student for a course, accounting of instructional arrangements for planning and designing instructional programs by faculty within known financial parameters. Ranking of Higher Education Institutions (HEIs), assessment and accreditation by third party and academic audit are also similar to academic accounting. But in the absence of any uniform framework or principles it is difficult to obtain valid reliable academic information. In India, NAAC accredits HEIs by grading in four categories. But a prospective student cannot make a choice among courses on the basis of their outcome or choosing institutions accredited with same grade. A suitable Academic Accounting Model may guide prospective student consumers to choose the course and institution fitting his need and resources by providing necessary academic information. The study made a search for a model of academic accounting for capturing, reporting and disclosure of information. The model is structured considering the norms set by various regulatory bodies. The proposed academic accounting model provides information on Physical Infrastructure, Teaching-Learning Process and Instruction /Course Outcome. Different parameters used are measurable, verifiable and comparable. In Teaching- Learning Process, No. of classes taken, students' average attendance and study materials provided are some of them. To measure the outcome of a course students' progression has been divided into four subheads namely, moving to next higher course, entering into job market, adopting self employment route and entering into unemployed labour force. From this piece of information the true inner story of a course comes out and almost all decisions could be taken by the stakeholders. The redundant course curriculum responsible for increase in unemployable labour force can be identified.