Dear Colleague: Thanks for the important question!  Indeed it is necessary to evaluate whether the goals of education have been achieved. You have mentioned a variety of competencies that the student should develop. I feel that we have still a lot to learn about how to evaluate the achievement of these various competencies...It seems that if a competency involves not only a "know that" and a "know why" but a "know how" in a very wide sense, one would need to apply evaluation methods not restricted to traditional tests....  

Thank you Armando Fernández Guillermet

Managerial accounting activities include some or all of the following: recognizing and evaluating transactions and economic events; quantifying and estimating the value of those events; recording and classifying appropriate transactions and events; and analyzing the reasons for, and relationships between, the transactions and events. Managerial accountants also assist decision makers who use the information they generate, and evaluate the implications of past and future events on proposed plans or decisions. They also work to ensure the integrity of the information that they produce and strive to implement a system of reporting that contributes to the effective measurement of management's performance.

http://www.referenceforbusiness.com/encyclopedia/Man-Mix/Managerial-Accounting.html

check the outputs of education - is student satisfaction (output) and competencies (outcome).

a "know what" and a "know why" but a "know how"  - that Armando- counts - leads to student satisfaction (output)

Accuracy ( absence of defects), Time ( delay), and output (presentation, executive summary) details competencies (outcome).acquired.

These are amply illustrated in the roles of Management Accounting which Krishnan so eloquently describes: 

Quote  "Managerial accountants... assist decision makers [by using]  the information . [to]. evaluate the implications of past and future events on proposed plans or decisions. ...

 ensure the integrity of the information that they produce and strive to implement a system of reporting"

Four basic cost accounting activities that support the managerial accounting function are

• cost determination, which involves determining the actual cost of a product or an activity, such as marketing;
• cost recording, whereby costs are recorded in journals and ledgers;
• cost analyzing, which refers to accountants and managers analyzing the data to help solve problems and make plans; and
• cost reporting, which entails showing the costs in detail, including showing how the costs were measured, what characteristics the costs have, and what the costs actually mean and how they should be interpreted.

http://www.referenceforbusiness.com/encyclopedia/Man-Mix/Managerial-Accounting.html

Easy to test knowledge (so we do it a lot) can also test knowledge retention over time if learners remain available. Can test an isolated skill (use of a tool - could be Excel, Scalpel, Excavator) and again retention (done a lot for CPR skills). Knowledge plus skills gives competence which again we can test but the testing is getting steadily more complex andthe results less reliable (which is why we focus on knowledge retention testing - not because its helpful but because its doable "Not everything that can be counted counts, and not everything that counts can be counted" (sometimes attributed to Einstein) Competence plus attitude leads to performance and now we are heading into professionalism and excellence. Competence is just good enough, excellence is the target of your life-long learners. Kirkpatrick expounded the levels of evaluation in a clinical context the highest level is an improvement in patient outcomes, but you can substitute your outcomes of course, the lower levels are more generic being Learner Satisfaction and so on, the more familiar territory of evaluation. Dont forget that your higher levels of evaluation should also feedback into your curriculum and teaching - if it doesn't produce the product as it is designed to the curriculum needs to change - not the learners!

Andrew well said  "Competence is just good enough, excellence is the target of your life-long learners".

I believe that the educator must take on (over) the controls in emergency (as in a driving tutor's car) / needing a correction / reAlignment., and until then the student continues unhindered....observing  "Competence is just good enough, excellence is the target of your life-long learners".. Both the teachers and the rigour of assessment are time wasters, ( till competence is good enough). So the key is im 

(i) making education easy - for early competence

(ii)  enhancing motivation  - so that the student puts in the necessary effort.

Andrew again rightly said "higher levels of evaluation ,,, [pertains to the teacher],, [by way of] feedback into your [my] curriculum [what I actually taught] and [my practice of] teaching. 

Thank you Priyavrat. There is evaluation of Teacher and evaluation of Learning. Experiential learning, done well, e.g. simulation make it safe for the learner to fail and to focus on learning and improvement not (summarily assessed) performance.

Dear Dr, Al-Fateh: 

First of all if we are teaching in our Universities over the world accounting according to international accounting education standards board IAESB like:

1- IES 1 entry requirements to a program of professional accounting programs

2- IES 2: content professional accounting education programs

3- IES 3: professional skill and general education.

4-  IES 4:  professional values ethics and attitudes.

5- IES 5: practical experience requirements

6- IES 6: assessment of professional capabilities and competence ......etc.

then we can very easy to check and evaluate outputs of education , learning accounting very easy and clear