Background to the Study
Education is a vehicle which conveys people from unknown to known or from abstract to concrete knowledge and facilitates their ability to distinguish wrong from right in all undertakings. This is why education is regarded as the totality of experiences that pave way for people in any society to understand the world they live in and be able to manage issues well. Olawoyin and Ojewale in Olawoyin, Adeleye and Olaniyi (2015), asserted that education remains the most essential element that empowers citizens of any nation to achieve their desired interest in the world of business. The authors further posited that education is a constant means by which individuals are exposed to enable them discern right and left, acceptable and non-acceptable or normal and abnormal. The essence of any educational programme is to ensure that the products are equipped with relevant knowledge, skills and attitude needed to contribute meaningfully to the economic development of the nation (Ediagbonya, 2003). Olawoyin, Adeleye and Olaniyi (2015), affirmed that for a nation to progress and witness development, she must give the right education that is capable of 2 developing the youths into sound and responsible citizens as well as fully integrating them into the community. The Federal Republic of Nigeria (FRN, 2013), stated that one of the aims and objectives of education is to help the child acquire appropriate productive skills, abilities and competencies both mental and physical as equipment to live in and contribute to societal development. In order to achieve the goals and objectives of education in Nigeria, government has geared efforts towards making individuals contribute to the growth of the nation’s economy and become self-reliant through well-developed curriculum covering academic and vocational subjects at the secondary school level. At the junior secondary level, business studies is taught as a pre-vocational subject with Book-keeping as an integral part. At the senior secondary school level, the curriculum covers vocational and commercial subjects such as Financial Accounting. Financial Accounting is therefore defined as the process of identifying, measuring and communicating economic information necessary for informed judgments necessary for decision making in organizations (Maffo, 2013). It is an aspect of Accounting which is a language that communicates economic information to those who have interest in an organization such as managers, shareholders, investors, employees, creditors and the government.
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