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Effect of Financial Technology Knowledge on Accounting Students’ Digital Accounting Competence in Nigerian Universities

Abstract

Financial technology (FinTech) knowledge refers to students’ understanding of technology-driven financial services, digital payment systems, electronic banking, financial applications, and technology-based accounting processes, while digital accounting competence refers to the ability to apply digital tools and technologies effectively in performing accounting tasks. The increasing use of computerized accounting systems, electronic transactions, cloud-based platforms, and digital financial services has made digital competence increasingly important for accounting students. However, inadequate knowledge of financial technology may limit students’ ability to adapt to technology-driven accounting practices. Therefore, this study examines the effect of financial technology knowledge on accounting students’ digital accounting competence in Nigerian universities. Financial technology knowledge encompasses understanding digital payment platforms, electronic banking systems, mobile financial applications, online financial transactions, accounting technologies, and other technology-enabled financial services. It also involves knowledge of how financial technologies support transaction processing, record keeping, financial reporting, and other accounting functions. Accounting students who acquire adequate FinTech knowledge are expected to develop greater familiarity with digital financial environments and become more capable of applying technology to accounting-related activities. Effective exposure to these areas can therefore strengthen students’ understanding of modern digital accounting practices. Digital accounting competence refers to students’ ability to use digital technologies accurately and effectively in carrying out accounting tasks. It includes competence in electronic bookkeeping, computerized accounting systems, digital transaction processing, electronic financial reporting, spreadsheet applications, and the use of technology for accounting information management. Financial technology knowledge may enhance this competence by providing students with the conceptual understanding required to operate within technology-driven financial and accounting environments. Students with stronger knowledge of financial technologies may therefore be better prepared to apply digital tools when performing accounting activities. The study will adopt a quantitative research design. The population will comprise accounting students in selected Nigerian universities, from which a suitable sample will be selected using an appropriate sampling procedure. Data will be collected through a structured questionnaire designed to measure students’ financial technology knowledge and digital accounting competence. The instrument will be subjected to appropriate validity and reliability procedures before administration. Descriptive statistics will be used to answer the research questions, while an appropriate inferential statistical technique will be used to test the hypothesis at the 0.05 level of significance. The study is expected to establish that financial technology knowledge has a significant positive effect on accounting students’ digital accounting competence. Students with greater knowledge of digital financial technologies are expected to demonstrate stronger ability to apply technology in accounting-related activities. The findings may also indicate that inadequate FinTech knowledge can create difficulties in adapting to digital accounting systems and performing technology-based accounting tasks effectively. The findings will have implications for accounting teaching and learning in universities. Accounting educators may need to incorporate more financial technology concepts, digital financial applications, electronic transaction systems, and technology-based accounting activities into accounting education. Practical exposure to relevant digital tools can provide students with opportunities to connect theoretical knowledge with contemporary accounting practices. This may improve their confidence and competence in using technology for accounting purposes. The study will be beneficial to accounting students, accounting lecturers, university administrators, curriculum developers, professional accounting bodies, and employers of accounting graduates. Students may benefit from improved preparation for technology-driven accounting workplaces, while lecturers may gain insight into areas where digital accounting instruction requires greater emphasis. University administrators and curriculum developers may use the findings to strengthen technology-related components of accounting programmes, while employers may benefit from graduates with stronger digital accounting capabilities. The study recommends that universities strengthen FinTech-related content within accounting education and provide students with practical opportunities to interact with digital accounting and financial technologies. Accounting lecturers should incorporate technology-based learning activities that expose students to contemporary digital financial processes. Universities should also provide adequate digital resources and encourage continuous development of students’ technology-related accounting skills. The study concludes that strengthening financial technology knowledge can contribute to the development of accounting students’ digital accounting competence and better prepare them for technology-driven accounting practice.

Keywords: Financial technology knowledge, digital accounting competence, FinTech, digital accounting, accounting students, financial technology, accounting education, digital skills, accounting technology, electronic transactions, computerized accounting, digital financial services, technology adoption, accounting competence, technology-based learning