THE COMPETENCE-BASED
APPROACH THROUGH THE PRISM
OF ACADEMIC TRAINING IN
MANAGEMENT ACCOUNTING
Rayna Stoyanova Petrova 1

1St. Cyril and St. Methodius University of Veliko Tarnovo, Bulgaria

E-mail: 1r.petrova@ts.uni-vt.bg

Abstract: Management accountants’ competences are evolving according to the changing socio-economic reality. The practical application of the
competence-based approach in this field is a response to the change of attitudes
from subject-oriented to competence-oriented education.
The aim of this article is to propose a competence-based learning model
for students in management accounting. The application of the developed
competence model in the educational process will contribute both to the development of competences, knowledge, skills, values, ethics and attitudes and the
realization of future management accountants.
Keywords: competencies, competences, competence-based approach,
competence-based learning model, management accounting.
This article shall be cited as follows: Petrova, R. (2022). The Competence-based Approach through the Prism of Academic Training in Management Accounting. Economic Archive, (4), pp. 58-78.
URL: www2.uni-svishtov.bg/NSArhiv
JEL: M41.
* * *

Contact information: St. Cyril and St. Methodius University of Veliko Tarnovo,
Faculty of Economics, 1 Arch. G. Kozarov str., Tel. +359878243465, E-mail: r.petrova@ts.univt.bg
1

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Introduction

A

ccounting profession is associated with growing number of challenges
in the process of digital transformation. Higher education in accounting
is expected to meet the modern requirements of the profession and
business and to prepare competent and competitive specialists. The competences of management accountants are also developing according to the changing
socio-economic reality. To use the digitalization of business, management
accountants must be able to know new ways of managing, analyzing and extracting value from data, applying analytical and critical thinking skills, formulating
strategic problems and identifying the most important questions that large data
sets can answer (Pavlova, 2020b, p. 140). New economic realities pose new
challenges to management accounting education. The practical application of
the competence-based approach in this field is a response to the change in attitudes from subject-oriented to competence-oriented education.
This paper presents a research on the competences of specialists in the
field of management accounting. Its subject are the conceptual problems of the
competence-based approach related to teaching management accounting. It
aims to propose a competence-based learning model for students in management accounting. The application of the developed competence model in the
educational process will contribute both to the development of competences,
knowledge, skills, values, ethics and attitudes and the realization of future
management accountants.
1. On the need for a competence-based approach in higher
education in the field of management accounting
Competences 2 are defined as a dynamic set of knowledge, skills, views
and attitudes acquired in the learning process. They are mainly related to the
behaviour of individuals rather than their knowledge or skills per se, but appropriate behaviour demonstrated in specific learning situations and necessary to
achieve results in a specific activity or in a specific professional role.
Knowledge is related to answers to specific questions (e.g. what, when,
where, how much, etc.) whereas skills refer to the application of knowledge in
practice and attitudes refer to the perception of knowledge demonstrated
through learners’ behaviour.

The term “competence” is derived from the Latin “competens, -entis”, meaning “able,
capable” and in English it is defined as “ability, capacity“)
2

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Competence is most often associated with ability, understood as being
able to do something, i.e. knowledge-based skill. Competences are abilities that
are not innate but rather "developed through efficient learning in an appropriate
pedagogical environment and acquisition of significant practical experience"
(Zwell, 2000).
Competences can also be considered as personal characteristics that are
important for the effective job performance at the assigned position and that can
be measured by observing behaviour (Kibanov & Mitrofanova, 2014, p. 156).
Therefore, some authors (Widdet, 2008, p. 228) highlight the characteristic of
the concept of "competence" as a set of behavioural indicators.
The concept of competences has its history, which dates back to the
1960s and which continues to develop and expand in modern conditions. The
educational reforms undertaken in many countries in this century emphasize on
the importance of "competence-based education".
The need to classify competencies is justified by the widening of the
application of the concept of "competency" in a great number of various fields.
On the one hand, competencies can be classified 3 as individual (e.g. social,
emotional, cognitive, civic and professional competency) and organizational
competencies. On the other hand, they can be behavioural, or "soft" (e.g.
emotional intelligence, communication, resistance to change, proactivity,
teamwork, decision-making skills, achievement orientation, motivation skills,
leadership, etc.) and technical, or "hard", i.e. competencies that define specific
professional skills and abilities.
A. Hutorski (Hutorski, 2005) distinguishes competencies hierarchically
at three levels in terms of the division of educational content into "meta-subject"
(for all subjects), "inter-subject" (for a cycle of subjects and educational areas)
and "subject" (related to a specific subject) as:
- key competencies – related to the general (meta-subject) educational
content.
- general subject competencies – related to a limited scope of educational
subject and fields.
- subject competencies – a specific case of a competency from the other
two categories that has a specific description and can be developed within a
certain subject.
Modernization of education is invariably linked to the concept of key
competences and for this end nowadays they are considered priority. One of the
goals of the Lisbon Strategy for development is for the EU to become a dynamic
and competitive economy based on knowledge and competences. The "Lifelong
Learning" program established by decision of the European Parliament and the
3

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Competences and education, https://mon.bg › upload › I-book.
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Council of the European Union (EU) was transposed in our country as National
Strategy for Lifelong Learning 2008-2013. This strategy defines key competencies as "transferable (core) skills needed by every employee in every situation". At the heart of the European Qualifications Framework for Lifelong
Learning (EQF) is the concept of the set of competences necessary for personal
development, active citizenship, social inclusion and employability in the 21st
century.
The framework describes key competences and identifies a range of
transferable, 'soft' skills (e.g. initiative, risk assessment, creativity, critical thinking, controlling emotions, teamwork, problem solving, taking responsibility)
that link the personal, social and professional performance of modern people.
For the purposes of this article we use the following EQF definitions:
- competence means “the proven ability to use knowledge, skills and
personal, social and/or methodological abilities, in work or study situations and
in professional and personal development.” In the context of EQF skills are
described in terms of the degree of responsibility and autonomy. The term
“competencies” describes the complex ability to use knowledge and skills for
the effective organization of the available resources for achieving professional
tasks.
- knowledge means “the outcome of the assimilation of information
through learning. Knowledge is the body of facts, principles, theories and
practices that is related to a field of work or study.” In the context of the EQF,
knowledge is described as theoretical and/or factual.
- skills means “the ability to apply knowledge and use know-how to
complete tasks and solve problems.” In the context of the EQF, skills are described as cognitive (involving the use of logical, intuitive and creative thinking)
or practical (involving manual dexterity and the use of methods, materials, tools
and instruments).
- attitude means “a predisposition and way of thinking about something”.
The key competences concept 4 highlights the results-oriented learning
and puts an emphasis on application of knowledge in real-life situations thus
pushing the process of education away 5 from its traditional subject-based

4
In 2018, the key competences were set up in the Recommendation of the Council of
EU. They comprise language competence, communication competence, mathematical
competence and competence in science, technology, and engineering, digital competence,
personal, social and learning to learn competence, citizenship competence, entrepreneurship
competence, and cultural awareness and expression competence; https://eur-lex.europa.eu/
legal-content/BG/TXT/PDF/?uri=CELEX:32018H0604(01)&from=GA.
5
Competences and education, https://mon.bg › upload › I-book.

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orientation towards development of key competences integrated across the
whole range of subject areas.
The European Qualification Framework was transposed into a National
Qualification Framework (NQF) which makes Bulgaria’s educational system
comparable to the educational systems of the other EU member states. It
supports the recognition of diplomas, certificates and other qualification
documents and facilitates access to the labour market, etc. It contains nine
levels 6 covering all educational stages and levels of education (from pre-school
education to the educational and scientific degree of "doctor") and defines the
necessary professional competences for each level with a view to future
professional realization.
The existence of a relationship at each of the NQF levels with the
corresponding key competencies can be seen both from the description of the
expected results such as knowledge and skills and from the acquired specific
personally significant key competencies such as learning competencies and
communicative and social competencies. In addition, the NQF determines the
necessary professional competences for each level with a view to future
professional realization.
The concept of "professional competence" in relation to specialists with
professional education in a specific scientific field implies the possession of a
complete set of qualities. Professional competences can be considered as a
specific set leading to the achievement of expected results in mastering a certain
profession and the performance of a certain professional role. Among the
knowledge and skills to solve standard professional tasks, priority is given to
competitiveness, high mobility, sense of responsibility and creative potential,
adaptability, habits of cooperation and coordination of one's activity, striving
for continuous improvement of a number of professional qualities and etc.
(Kolar, 2020)
A number of studies in the field 7 show that the focus of job interviews
is increasingly shifting to acquired competences and factors such as positions
held and qualifications are considered less important. Thus the acquired
competences serve as a link between education and business, which makes the
system of education and the labour market "see eye to eye" (see Fig. 1).

The EQF levels describe learning outcomes in terms of knowledge, skills, and
competences in four groups – responsibility and autonomy, learning competences, communication and social competences, and professional competences.
7
Competence and education, https://mon.bg › upload › I-book.
6

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Competencebased

Learning
outcomes
Labour market

Competencebased

Competences

Figure 1. Specialists’ competences and the relationship between the system
of education and the labour market
In practice, the terms "competence" and "competency" are often used
interchangeably. To distinguish them, it is important to note that competence
has a broader meaning. It can be defined 8 as a category including the following
components: level of awareness; knowledge; experience and expertise in certain
fields; a complex personal resource allowing effective interaction in various
areas of the surrounding environment and depending on the degree of
possession of the necessary competencies for this purpose. It can be defined as
a set of personal qualities of the individual, determined by his experience and
by the activities performed in the relevant professional fields. The personal
qualities themselves integrate a set of certain values, knowledge, skills, habits
and abilities.
As a concept, competences can be considered 9 in the context of
demonstrated behaviour in a specific situation and in the performance of a
specific task or role. In other words, competence is "know how" rather than
"know what".
From the comparative analysis of the definitions of the concepts
"competence" and "competency", it can be concluded that competence is the
broader concept that refers to the motivation and attitudes of the person to put
into action the acquired knowledge, skills and experience to achieve goals in a
given area. As R. Dimitrova points out, the main difference between
competence and traditional knowledge and experience is that "competence is
integrative, it has a practical orientation and is directly related to one’s qualities
and value system " (Dimitrova, 2016, p. 211).

8
9

https://mycompetence.bg/
Ibid.

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63

Therefore, competencies are components of one’s competence. N.
Chomsky also summarizes that competence is "competency in action" (Chomsky, 2005).
The profession of an accountant requires certain competences, knowledge, skills, values, ethics and attitudes the accountant must have and maintain.
Accounting education is subject to specific requirements from the International
Accounting Education Standards Board (IAESB) of the International Federation
of Accountants (Handbook of International Education Pronouncements, 2014).
According to the general framework of the IAESB, the main objective of
accounting education is to develop competent professional accountants.
The concept of "competence" in the general framework under consideration is defined as the ability to perform a job role according to a defined
standard with reference to a work environment. To demonstrate competence in
a given role, a professional accountant must possess the necessary professional
knowledge, professional skills and professional values, ethics and attitudes.
The professional knowledge underlying the general framework includes
those topics that form the subject of accounting as well as other economic
disciplines that together form the core body of knowledge for professional
accountants.
Professional skills underpinned by the general framework include the
various types of abilities required to use professional knowledge, as well as
professional values, ethics and attitudes appropriately and effectively in a
professional context.
The professional values, ethics and attitudes underlying the general
framework include the professional behaviours and characteristics that identify
professional accountants as members of the profession. They include the
principles of conduct (i.e. ethical principles) that are commonly associated with
professional conduct and that are considered important in determining its
distinctive features.
The general framework of IAESB specifies the professional skills of
professional accountants. It states that professional accountants are required to
possess a wide range of skills, including methodological and functional skills,
organizational and business management skills, personal skills, interpersonal
and communication skills, a variety of intellectual skills and professional
judgment skills.
The professional skills of accountants are classified according to IES 3 10
and the Glossary of Terms of IAESB (Handbook of International Education
Pronouncements, 2019) as: intellectual, interpersonal and communication,
personal, and organizational skills, which require integration and application of
10

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IES 3 Initial Professional Development – Professional Skills (2021)
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technical competence, professional skills, and professional values, ethics, and
attitudes.
The general framework also provides definitions of the terms professional values, ethics and attitudes. They include: commitment to methodlogical
competence, ethical behaviour (e.g. independence, objectivity, confidentiality
and integrity), good professional conduct (e.g. due diligence, timeliness,
courtesy, respect, responsibility and reliability), pursuit of excellence (e.g.
commitment to continuous improvement and lifelong learning) as well as social
responsibility (e.g. awareness of and respect for the public interest).
Professional values, ethics and attitudes of accountants are also defined
according to IES 3 and the relevant IAESB glossary, namely these are the
characteristics that define professional accountants as members of a given
profession. These include the principles of conduct (e.g., ethical principles)
generally associated with and considered essential in defining the distinctive
characteristics of professional behaviour.
In this regard, the concept of "competence" can also be considered
through the prism of the understanding of professional qualification. For this
purpose, NCPA defines professional qualification as a measure of the degree of
mastery of certain knowledge, skills and professionally significant qualities
acquired through training or work experience whereas competence – as the
ability to perform a specific position, certain functions or roles. Thus competence can be formally certified by means of a diploma, certificate or other
official document in accordance with the current legislation..
According to some authors (Maksimova, 2016, pp. 116–118), in order
to perform their jobs effectively, business accountants must constantly improve
their qualification, monitor regulatory changes in the field of accounting, attend
(if possible) specialized workshops and courses and to acquire new skills and
abilities. This is also related to L. Spencer's definition of competence:
"Competence is the basic quality of an individual that has a causal relationship
with effective and/or best performance based on criteria in professional or other
situations" (Spencer & Spencer, 2005, p. 384).
According to M. Pavlova, new competences require the development of
new approaches to guarantee the future standing of the accounting profession
(Pavlova, 2020a, p. 67). N. Kostova summarizes that accountants must be able
to "think in perspective", which requires analytical thinking, creative approach
to work, ability to see the overall picture in order to support the strategic
development of the enterprise, its financial position and market share (Kostova,
2021, pp. 10–11). The abilities to process large amounts of information, make
critical judgments, think entrepreneurially, communicate effectively, and adapt
quickly to changing conditions are now more important than ever.

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The concept of "competence" is defined following two approaches:
American and European approach. Following the American approach, some
authors (Ivanov & Lukyanova, 2019, p. 15; Kibanov & Mitrofanova, 2014, p.
9) present competences as a description of employee behaviour. This approach
aims to determine the main characteristics employees most have and be able to
demonstrate through their behaviour and job performance.
The European approach considers competences from a functional
perspective as a description of work tasks or expected work outcomes. In this
regard, competence can be defined as the ability of employees to act in
accordance with the standards adopted by the particular organization. As a
result, it can be summarized (Ivanov & Lukyanova, 2019, p. 15) that the
European approach focuses on defining the minimum standard that must be
achieved by employees, and the American model defines what each individual
employee must do to achieve the highest possible efficiency.
In order to specify and evaluate the specific qualities contributing to the
successful performance of the functions of the modern accountant, a variety of
approaches can be applied both in terms of professional accounting education
and in terms of specific economic units. In this regard, N. Ivanov (Ivanov &
Lukyanova, 2019, p. 14) proposes the use of a competence-based approach to
develop specific competence models.
A competence model is defined as “a complete set of competences (with
or without levels) and behavioural indicators” (Whiddett & Holliforde, 2008, p.
12). Individual models may contain a detailed description of standards of
conduct for the personnel of a particular department or standards of action
leading to the achievement of specific goals, but may also include basic
standards of conduct designed to fully describe the business structure or
activities aimed at achieving a range of different corporate objectives. The set
of details included in the description of the competence model depends on the
intended practical application of the particular model.
These methods for development of a competence model provide the
following opportunities: to conduct a conventional study of competences, to
develop a model of competences with the help of expert groups, to study future
publications or individual works (Spencer & Spencer, 2005, p. 384).
Especially interesting are the practical aspects of N. Ivanov’s
competence model based on the use of expert groups and intended for
application in the following situations: in the selection and evaluation of
personnel and more specifically in situations where the organization has a high
turnover of employees; in cases of poor performance of the enterprise in
strategic aspects; in career planning (the company may need employees with a
certain potential, reflected in specific competencies); when organizational
changes occur or are planned in the organization (in this case, it is important for
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the company to know which employees can contribute to growth, to act effecttively in conditions of stress and instability); during long periods of adaptation
and training of new employees, etc. (Ivanov & Lukyanova, 2019, pp. 14–21).
The theory is also enriched by a number of other models of management
competencies that can be used by organizations for crisis management, effective
organizational management, etc. Such is the model of D. Yordanova, which
substantiates the relationship between leadership competencies and the stages
of crisis management. Within the model’s framework of management
competencies, various aspects of the role of crisis manager competencies in
business organizations are examined (Yordanova, 2020, pp.134–144).
Conducting new and wide-ranging scientific studies on competences
and competencies in business organizations leads to a more precise definition
of both the main characteristics of employees and their work tasks or expected
performance. The application of competency models in practice aims to achieve
higher efficiency in management at organizational level.
2. Competence model for teaching students in the subject area
of management accounting
There are many different approaches that are used in vocational training
of specialists in various fields. Some of them are established and have longstanding tradition of application. Such are the traditional approaches that are
knowledge-oriented (i.e. aimed at mastering certain learning content, focused
on subject-based structuring of knowledge, etc.). Other approaches were
gradually introduced to the field of education in the second half of the twentieth
century. They are based on competences and aim to increase the quality of
education and adequately respond to the dynamics of development and expectations of modern society from the educational system.
One of the main reasons for introducing vocational training is the public
need for competent specialists with knowledge in various fields, who interact
with each other in various situations and have a variety of creative skills and
professional and personal qualities. The competence-based approach to learning
focuses on the use of knowledge and its practical application. It is defined as
"updating the educational content in response to the changing socio-economic
reality" (Nazmutdinov & Yusupova, 2013). Its application is a response to the
change in attitudes from subject-oriented to competence-oriented learning.
The terms "competence" and "competencies" are also at the core of the
competence-based approach. The main emphasis of this approach is the
transition from teaching knowledge to mastering key competences. Through the
application of the competence-based approach, "the idea not only of the goals
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67

of education, but also of the nature of the construction of the necessary
knowledge" is fundamentally changed (Stefanova, 2021). The competencebased approach is focused on achieved results of the training process and the
ability to apply specific knowledge at work.
In its essence, the competence-based approach is a set of principles for
determining goals, selecting content, organizing the educational process, and
evaluating learning outcomes. Its main characteristics are: 11 integrated interdisciplinary interaction; practical focus on training; results-orientated; use of
innovative approaches and practices in the teaching and learning process.
The competence-based approach implies the use of various inter-disciplinary links in the educational process to define concepts, processes and phenomena, i.e. the separate topics of the learning content are taught across several
subjects and thus go beyond the scope of the traditional academic subjects. Therefore, this educational approach is based on interdisciplinary training and is
assumed to facilitate the formation of individual key competences and ultimately lead to their integrated acquisition.
In the competence approach, education is associated with "the ability,
on the basis of acquired knowledge, to demonstrate skills for solving problems
of varying complexity and in unusual situations" 12. This requires providing a
real practical context for the learning objectives and developing learning tasks
that stimulate critical thinking, teamwork, creativity, entrepreneurship, emotional intelligence, and decision-making as skills that are becoming essential in
modern society.
The application of the competence-based approach requires that
teaching methodology be transformed from "learning to do something" to "helping to learn to do something". The research of a number of authors (VasilevaIvanova, 2014; Nenova, 2005) shows that the application of interactive learning
methods within the competence-based approach contributes to achieving
outstanding learning outcomes. The essence of the approach is to shift the
learning process from learning "ready-made knowledge" to following "the
conditions for the emergence of this knowledge" (Nazmutdinov & Yusupova,
2013).
What distinguishes the competence-based approach from the qualification (traditional) approach is the different understanding of the nature of the
expected outcomes and educational goals. The qualification approach sets
certain knowledge (concepts, facts, rules, etc.) that must be gained by the
learners in the training process. The competence-based approach aims to
transform knowledge into skills by creating practical situations in a simulated
environment. The change in educational goals, in turn, leads to a change in the
11
12

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On the transition from knowledge to skills, https://mon.bg › upload › II -book.
Ibid.
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definition of educational content, the selection of educational activities and
approaches to evaluating the learning outcomes.
In this regard, the present study aims to propose a competence-based
model for teaching students in the field of management accounting. The model
is based on the competence-based approach applied to vocational training in
management accounting.
The competence-based model 13 for teaching students in the subject area
of management accounting comprises the following building blocks:
• competences and competencies in management accounting and the
levels of their acquisition by the students;
• methods for teaching and structuring the learning content of the course
in management accounting;
• matrix representation of the relationship between curriculum activities
and students' competences;
• assessment of student competences and competencies in the field of
management accounting.
The competencies of students who have completed the course in
management accounting are summarized in Table 1. Their definition is essential
for determining the expected degree of their acquisition by students.
Undoubtedly, the framing of the level of competencies in the model should
correspond to the established management accounting curricula for the relevant
educational program 14.
In line with the definition of competences and competency set out in the
Handbook of International Education Pronouncements, management accountting competences in their entirety define the competences in this subject area of
accounting. From this point of view, for the needs of the developed competencebased model, competences are classified in Table 2.
The teaching methods and the framing of the learning content of the
management accounting curricula are part of the next main building block of
the current competence-based model for training students in the field of
management accounting. The applied teaching methods refer to the way of
organizing the joint activity of the teacher and the students in the process of
acquiring certain knowledge and skills.
In the present-day higher economic education in Bulgaria there is a competencebased model of training of students in financial control. See Dimitrova, R., Understanding and
applying the competence approach in financial control training, Izvestia, EU - Varna, Vol
60/№2, 2016, pс. 208–225.
14
This model complies with the curriculum of the academic course in Managerial Accounting
- Part 1 in the Bachelor's degree program of Accounting and Control at the Faculty of Economics
of VTU St. Cyril and St.Methodius. The knowledge, skills and competences set in the current
curriculum are in accordance with the Qualification Framework of the European Higher
Education Area and the National Qualification Framework of the Republic of Bulgaria.
13

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69

Table 1
Management accounting competencies and degrees of their acquisition
by students
Type of competency

1. Professional
knowledge

2. Professional skills

3. Professional
experience

4. Career
development

70

Level of acquisition

• structure and fields of application of management
accounting
• the concept of costs and their classification for the
purposes of management accounting
• the role of management accounting in decision making
• accounting analysis of the relationships between costs,
volume, and profit
• calculation of cost price; calculation approaches and
systems
• integration of indirect costs in the cost price of goods
and services
• budget accounting – definition, approaches and
methods
• methods for cost dynamics analysis
• problems related to acquisition and maintenance of
professional competence of modern management
accountants
• to distinguish the scope of management accounting
techniques taught
• to apply management accounting techniques in
management decision making
• to use methods and techniques in solving complex
management accounting problems
• to interpret diverse sources of information to support
potential management decisions
• to apply management accounting techniques in various
practical aspects of management accountant’s profession
• to process and use diverse sources of information in
management accounting
• to prepare various reports and statements for the
management of the organization
• to develop and improve the acquired professional
knowledge, skills and experience in the field of
management accounting
• to apply the acquired professional knowledge, skills and
experience in practice or in scientific research
• to demonstrate interest in management accounting
innovations and scope
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Table 2
Student competences acquired within the management accounting course
Types of competence
Competence characteristics
1. Functional
• use of management accounting tools in carrying
out projects and tasks;
• develop skills for collecting and classifying
financial and non-financial data for solving specific
management accounting cases;
• processing, analyzing and assessing accounting
and non-accounting information for taking specific
management decisions;
• applying the acquired knowledge and skills in
new or unknown conditions of economic turbulence;
• demonstration skills for analyzing of information
in a broader and inter-disciplinary aspect.
2. Organizational
• developing skills for clear and understandable
formulation and communication of ideas, problems,
and decisions to specialists in economics and
management accounting;
• expressing attitude towards and understanding of
problems through methods based on qualitative and
quantitative descriptions and assessment;
• being able to manage administratively complex
professional processes involving teams and
resources;
• creativity and initiative in the fields of finance
and management;
• organizing activities for implementation of
projects and tasks;
• preparing various reports and statements related
to management accounting.
3. Digital
• developing data-processing skills;
• developing data analysis skills;
• developing digital collaboration skills;
• developing skills for coordination of
technological processes;
• developing skills for using intelligent systems.
4. Personal and
• developing team-working skills;
communication
• developing skills for coordinating team activities
towards a common goal;
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71

5. Ethical values and
attitudes

• assessing training needs to improve the team’s
performance;
• developing leadership qualities and skills to
argument tolerantly their opinion;
• developing skills for adequate reaction in a
competitive environment.
• showing a broad personal outlook, understanding
and solidarity of others;
• adopting the principles of professional
accounting ethics;
• understanding and adherence to the principles
pertaining to management accounting;
• adopting tolerant and ethical behavior in
implementing of projects and tasks;
• personal professional development and
willingness to accumulate work experience.

Specifically, teaching methods include a description of teacher’s and
students’ roles and their interaction in the learning process. The activities of
management accounting teachers and students are subject to differentiation
from the point of view of the number of classes assigned to the discipline in
terms of lectures and workshops.
The teaching methods used the management accounting course are
subject to continuous improvement in terms of faculty performance. The set of
applied teaching methods is the result of the symbiosis of the knowledge, skills
and experience of teachers in the field of teaching management accounting. The
main teaching methods in relation to the course content can be presented in in
terms of the necessary competences as shown in Table 3.
Lectures can have the following specific goals: to introduce the main
aspects of the subject; to visualize the learning content; to summarize the
learning content on a given topic; to draw the attention of learners to a specific
problem, etc. When specific problems are addressed during a lecture, then the
presentation is problem-oriented and aims to propose solutions.

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Table 3
Teaching methods used in the course of management accounting
Teaching
Activities of teachers and students
Competences
methods
in the context the course content
Lecture
The lectures are structured
• functional;
(explanations,
according to the learning content
• organizational;
presentations,
and the course syllabus:
• ethical values
visualization,
• structure and fields of application and attitudes.
problem
of management accounting
solving, etc.)
• the concept of costs and their
classification for the purposes of
management accounting
• the role of management
accounting in decision making
• accounting analysis of the
relationships between costs,
volume, and profit
• calculation of cost price;
calculation approaches and
systems
• integration of indirect costs in the
cost price of goods and services
• budget accounting – definition,
approaches and methods
• methods for cost dynamics
analysis
• problems related to acquisition
and maintenance of professional
competence of modern
management accountants;
Discussion
Appropriate for each topic both in
• personal and
(focused on
lectures and workshops.
communication;
certain
• organizational;
problems, etc.)
• functional;
• ethical values
and attitudes.
Problem
Appropriate for workshop classes.
• functional;
solving, case
The teacher should organize the
• organizational;
studies and
activity provide explanations,
• digital;
tests
Economic Archive 4/2022

73

correct errors, monitor students’
progress etc.
Role plays

Appropriate for workshop classes..
The teacher should organize the
activity explain the requirements,
rules and constraints, provide
consultations, monitor students’
progress and provide feedback.

Course
assignments
and other selfstudy tasks

Appropriate for self-study and
teamwork assignments.
The teacher should explain the
requirements and assessment
criteria, provide consultations and
give recommendations.

• personal and
communication;
• ethical values
and attitudes.
• functional;
• organizational;
• personal and
communication;
• ethical values
and attitudes;
• digital.
• personal and
communication;
• organizational;
• functional;
• ethical values
and attitudes;
• digital.

A discussion on a set of problems as a method in economic education is
widely used for active learning. It is suitable for any topic both during a lecture
and during a seminar class. The essence of a discussion is a dialogue between
the teacher and the students, through which a set cognitive task is carried out
step by step through a system of questions, answers, comments or discussion introducing or learning a new concept, formulating definitions, highlighting
features, etc. All learners participate in the discussion by considering the
problems and looking for and formulating solutions. The function of a
discussion is to stimulate and guide the independent cognitive activity of the
students. The conditions for the effectiveness of a discussion are:
• preliminary preparation of the teacher - excellent knowledge of the
educational content, options and forms for its presentation, different ways of
formulating the definitions, different ways of solving a given task or preparing
a given project, etc.;
• teacher's ability to formulate and reformulate questions concisely and
precisely, to arrange and systematize them logically and consistently, without
being ambiguous or overly suggestive;
• the organization of the discussion - the questions should be clearly
formulated, asked to the whole audience; after each question the moderator
should pause for a while and then designate a specific student or students to
formulate the answer. If the given answer is correct, this should be clearly
confirmed by the teacher and/or the learners. If the answer to the question is
74

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wrong, the teacher should ask guiding questions or give counter-examples so
that the students can find their mistakes and correct them. If they cannot find
the right answer themselves, the teacher should direct them through appropriate
questions. The discussion on a given problem ends when the correct answer is
reached, which must be announced and/or written down;
• positioning the discussion in the structure of the topic and the time
assigned according to the syllabus;
• summary by the teacher of the main knowledge and skills obtained
through the discussion;
• adapting the structure, organization and duration of the discussion to
the individual cognitive abilities and competences of the learners.
Various home assignments help students not only acquire knowledge but
also develop skills for independent learning. This method is used at all stages
of the management accounting course. It is suitable for assignment of both
independent (individual) and team tasks.
Usually, from the point of view of the teacher's activities, this method is
used in the following sequence: update of the necessary knowledge,
motivational activity and simulation of a problem situation; instructions on how
to use the learning materials and other literary sources; checking the results of
independent work; corrections depending on the results.
A matrix showing the relationship between the activities described in the
course curriculum and students' competences is a logical continuation in the
construction of the competence-based model. Such a matrix is illustrated in
Table 4.
The evaluation of the competences and competencies of students in the
field of management accounting implies knowledge of the various evaluation
criteria and systems, means of learner motivation, etc. For the purposes of the
current model, it is important that the assessment within the course be complex
in nature and formed from the individual elements laid down in the developed
curriculum.
The successful implementation of any competence-based learning
model depends on its integration into the overall training course of future
accounting specialists.

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75

Lecture
Discussion
Problem solving,
case studies, etc.
Role play games
Home assignments

76
Competences

MA* – management accounting

















 


 


  




  
  



Awareness of and willingness to adhere to
professional accounting ethics
Understanding and adherence to the principles
pertaining to management accounting







   






   
   











Personal professional development and willingness
to accumulate work experience

Adopting tolerant and ethical behaviour in
implementing of projects and tasks

Leadership and argumentation skills

Team-working skills

Digital cooperation skills

Ability to act adequately in a competitive
environment

Data processing and analysis skills

Preparing various reports and statements

Being able to express ideas, problems and solutions
clearly and comprehensively



Demonstrating initiative and organizational skills
Showing attitude and understanding of specific
problems

Processing, analyzing and assessing information for
taking specific management decisions




Skills for collecting and classifying financial and
non-financial data for solving specific management
accounting cases

Use of management accounting tools in carrying out
projects and other tasks .

Applying the acquired knowledge and skills in new
and unfamiliar circumstances

Activities

Table 4
Example of a matrix presentation of the relationship between management accounting curriculum activities
and students’ competences




Economic Archive 4/2022

Conclusion
Competences act as a link between education and business. In the
context of digital transformation, the focus shifts to the level of knowledge and
innovation capabilities. The development of knowledge and skills is underpinned by the quality of education and vocational training and by the cooperation of universities and the private sector. In this regard, the improvement of
the competence-based approach in management accounting training will contribute to the formation of competent specialists in this field.
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Rayna S. Petrova, PhD (Econ) is an Associate Professor at the Department
of Finance and Accounting of the Faculty of Economics of the University of Veliko
Tarnovo St. Cyril and St. Methodius, Bulgaria. Scientific interests: management
accounting systems of commercial banks, management accounting systems of
hospitals, methodological aspects of vocational training in Economics.
ORCID ID: 0000-0003-4703-5502
78

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ECONOMIC ARCHIVE
YEAR LXXV, BOOK 4 – 2022
CONTENTS
Meriem Chafik, Mohammed Nabil El Mabrouki
Opportunities and Challenges of Cross-Border Banking: Focus on Pan-African
Banks /3
Kalina L. Durova
The Impact of Absorbed European Funds on the Economic Growth of Bulgaria
and New Member States /17
Desislava Koleva-Stefanova
The Dynamic Transformations on the Labour Market in Bulgaria in
Conditions of Digital Technologies and Pandemic /37
Rayna Stoyanova Petrova
The Competence-Based Approach Through the Prism
of Academic Training in Management Accounting /58
Ana Borisova Ivanova
The Health Insurance Reform in Bulgaria – Financing Models and Status
Evaluation /79

EDITORIAL BOARD:
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INTERNATIONAL BOARD:
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(Moldova).
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Prof. Andrey Krisovatiy, DSc (Econ) – Ternopil National Economic University, Ternopil (Ukraine).
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Prof. Ken O'Neil, PhD – University of Ulster (Great Britain)
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Prof. Olena Nepochatenko, DSc (Econ) – Uman National University of Horticulture, Uman (Ukraine)
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Hetman, Kyiv (Ukraine)
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Assoc. Prof. Anisoara Duica, PhD – Valahia University of Targoviste (Romania)
Assoc. Prof. Vladinir Klimuk, PhD – Baranovichi State University, Branovic (Belarus)

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