2025 IJRSE – Volume 14 Issue 12
Available Online: 22 June 2025
Author/s:
Calumbiran, Bhetty Mae
Sanchez, Althea Mabel
Gamlot, Yorienhel
Monton, Nadine Joy
Legaspi, Precious Jade
Moreno, Jericka Mae
Sanchez, Princess Nhoelle
Brona, Shaira
Balbona, Camille
Ariola, Ruth
Astorga, John Mark*
Granby Colleges of Science and Technology, Philippines (markapinya14@gmail.com)
Abstract:
This research assessed the level of awareness of selected accountancy students from Granby Colleges of Science and Technology (GCST) regarding recent updates to the Philippine Financial Reporting Standards (PFRS). The objective of the study was to determine the demographic background of the participants, particularly their age and year level, and to measure the extent of their awareness regarding recent updates related to entity classifications, accounting policies and estimates, and corrections and financial reporting adjustments. It also aimed to identify which areas students were least familiar with and whether awareness varied by year level. A descriptive research design was employed, using a Likert-scale questionnaire shared through Google Forms to accountancy students from the second to fourth year. The findings revealed that the students demonstrated an average level of awareness. While most students were familiar with updates related to the classification of different types of entities, they struggled with more complex areas such as accounting policies, estimates, and corrections in financial reporting. The study concluded that although year level influenced awareness in some areas, it had minimal impact on students’ understanding of these more technical aspects. While the current curriculum at Granby Colleges of Science and Technology (GCST) provides a solid foundation, the researchers recommend improving the program by incorporating additional applied learning techniques, such as case studies, updated instructional resources, and real-world scenarios. These improvements would address existing knowledge gaps and better prepare students for the evolving demands of the accounting profession.
Keywords: Accountancy, Philippine Financial Reporting Standards (PFRS), Accounting Students, Updated PFRS, Granby Colleges of Science and Technology
DOI: https://doi.org/10.5861/ijrse.2025.25181
Cite this article:
Calumbiran, B. M., Sanchez, A. M., Gamlot, Y., Monton, N. J., Legaspi, P. J., Moreno, J. M., Sanchez, P. N., Brona, S., Balbona, C., Ariola, R., & Astorga, J. M. (2025). Level of awareness of selected accountancy students in recent updates of Philippine Financial Reporting Standards at Granby Colleges of Science and Technology. International Journal of Research Studies in Education, 14(12), 73-84. https://doi.org/10.5861/ijrse.2025.25181
* Corresponding Author