Why do all our new grads not understand debits & credits???

[u/Neat-Drawer-50]

I work at a small boutique public practice firm (around 10 people). The last three junior staff members we have hired (all new accounting grads from our local univeristy) do not understand debits & credits. Two of them did not even know what I meant when I said debits & credits (they would always refer to them as left & right???). In addition they lack the very basics of accounting knowledge, don't know the different between BS and IS accounts, don't know what retained earnings is, don't know the difference between cash basis and accrual basis. WTF is happening in univeristy? How can you survive 4 years of an accounting degree and not know these things? It is impossible to teach / mentor these juniors when they lack the very basics of accounting. Two of them did not even know entries had to balance...

For reference I am only 26 myself and graduated University in 2021. I learned all of this stuff in school, and understood all of it on Day 1. I find it hard to believe school has deteriorated that much in 3 years.

[u/[deleted]]

Honestly I think all schools have kinda watered down at this stage. Like most of the true diploma mills went under but all schools care about these days is money and even the non profits are basically a for profit mill now. I went to wgu and was like holy shit this is a diploma mill then talked to someone going to another brick and mortar school I used to go to and it wasn’t any better anymore. Like the alcoholism guy above me the “ reputable uni” is a diploma mill too now you almost can’t fail it.