FACTORS AFFECTING FINANCIAL LITERACY OF ACCOUNTING STUDENTS

Abstract

Over the last few decades, tertiary education students have been adversely affected by the high cost of living. Most students need help keeping up with their living standards due to their limited financial literacy knowledge. This situation has resulted in them being burdened with debt and brink of bankruptcy. This study aimed to examine whether age affects, financial socialisation and specific motivation affects financial literacy of accounting students. The research scope focused on factors aligning with financial literacy, such as knowledge, attitude, and behaviour. This study involved students of all levels from UiTM Faculty of Accountancy in the Shah Alam and Puncak Alam campus.  The findings revealed that financial knowledge and behaviour were positively and significantly associated with the factors affecting financial literacy. Moreover, financial motivation positively and significantly impacts factors affecting financial literacy among UiTM accounting students.This study contributes to the available literature on financial literacy. This will henceforth aid society, academics, and policymakers in focusing on the key elements necessary to improve students' financial literacy.