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Impact of Formative Assessment on Students’ Mastery of Financial Accounting Concepts in Nigerian Polytechnics

Abstract

Formative Assessment refers to the systematic use of assessment activities during the teaching and learning process to monitor students’ understanding, provide feedback, identify learning difficulties, and guide subsequent instruction. In Financial Accounting, continuous assessment is important because students need regular opportunities to demonstrate their understanding of accounting principles and receive corrective feedback before progressing to more complex concepts. However, inadequate use of formative assessment may limit opportunities for students to identify and correct misconceptions. This study therefore examines the impact of Formative Assessment on students’ mastery of Financial Accounting concepts in Nigerian polytechnics. Formative Assessment may include classroom quizzes, short tests, practical exercises, questioning, assignments, class discussions, problem-solving activities, and other assessment tasks conducted during instruction. These activities enable lecturers to monitor students’ progress and identify areas requiring additional explanation or practice. Regular assessment also provides students with opportunities to review accounting concepts, practise accounting procedures, receive feedback on their performance, and correct errors before they become established learning difficulties. Students’ mastery of Financial Accounting concepts refers to their ability to understand, explain, apply, and correctly use accounting principles and procedures. Mastery may be demonstrated through students’ ability to interpret accounting concepts, classify accounting elements, record transactions, prepare accounting statements, and apply appropriate accounting principles to practical problems. Formative Assessment may improve such mastery by providing continuous opportunities for practice, feedback, correction, and reinforcement of previously learned concepts. The study will adopt a survey research design. The population will comprise Accounting Education students in selected Nigerian polytechnics. Data will be collected using a structured questionnaire designed to obtain information on the use of Formative Assessment and students’ mastery of Financial Accounting concepts. The instrument will be subjected to appropriate validation and reliability procedures before administration. Data collected will be analysed using descriptive and inferential statistical techniques, while the hypothesis will be tested at the 0.05 level of significance. The study is expected to establish that Formative Assessment has a significant positive impact on students’ mastery of Financial Accounting concepts. Students who are regularly assessed and provided with timely feedback may demonstrate better understanding of accounting principles, greater accuracy in applying accounting procedures, and improved ability to identify and correct errors in Financial Accounting tasks. The findings are expected to have implications for the teaching and learning of Financial Accounting in polytechnics. Lecturers may need to integrate formative assessment activities consistently throughout Financial Accounting instruction rather than relying mainly on end-of-semester examinations. Regular quizzes, practical exercises, classroom questioning, assignments, and feedback sessions may provide students with continuous opportunities to strengthen their understanding and address areas of difficulty. The study will be beneficial to Accounting Education students, lecturers, polytechnic administrators, curriculum planners, and other stakeholders in accounting education. Students may benefit from continuous feedback and improved opportunities to consolidate their knowledge, while lecturers may gain useful information for identifying learning gaps and adjusting instructional approaches. Polytechnic administrators and curriculum planners may also use the findings to strengthen assessment practices within Financial Accounting programmes. The study recommends that Nigerian polytechnics should encourage the regular integration of Formative Assessment into Financial Accounting instruction. Lecturers should employ varied assessment activities, provide timely and constructive feedback, and give students opportunities to correct identified errors and improve their understanding. The study concludes that effective use of Formative Assessment can contribute significantly to students’ mastery of Financial Accounting concepts and support improved learning outcomes in accounting education.

Keywords: Formative Assessment, Financial Accounting, Concept Mastery, Accounting Education, Students’ Learning, Continuous Assessment, Assessment Feedback, Accounting Concepts, Learning Outcomes, Accounting Achievement, Practical Accounting, Classroom Assessment, Academic Performance, Accounting Instruction, Student Learning