Student Perspectives on Authentic Assessment

Assessment plays a central role in shaping student learning in higher education, particularly in professional disciplines where both technical competence and higher-order skills are required. This study evaluates the effectiveness of an authentic, consultancy-style assessment designed to enhance students’ financial analysis capabilities. The assessment required students to analyze real-world annual reports, compute and interpret financial ratios, and provide investment recommendations in a professional report format. A mixed-methods approach was adopted, combining quantitative survey responses and qualitative reflections from eighty-one undergraduate students enrolled in a Financial Accounting and Reporting course at a Malaysian public university. The findings indicate that the assessment supported students’ understanding of financial ratios, improved their ability to analyze and compare company performance, and increased their confidence in applying financial information in decision-making contexts. Students also reported high levels of engagement, particularly through the role-playing component of the assessment. However, qualitative findings revealed several challenges, including difficulties in interpreting financial data, translating numerical results into meaningful insights, and presenting findings in a professional format. Students emphasized the need for clearer guidelines, sample reports, and structured feedback to enhance their learning experience. This study contributes to the literature on authentic assessment by providing empirical evidence that real-world, discipline-specific tasks can support learning and highlighting the importance of scaffolding and feedback in assessment design. The findings offer practical implications for educators seeking to design effective assessment strategies that bridge the gap between theoretical knowledge and professional practice.