Analysis ratio is an important concept that students who study Business Finance need to capture when they enroll in the Diploma of Business Management program in vocational colleges. However, students are facing difficulties in calculating the ratios correctly which handicaps their understanding of the topic and consequently makes wrong decisions in determining a company’s performance. It has been identified that the reason for their struggles is the many ratio formulas that they need to remember. Therefore, researchers took the initiative to create the OME System to assist students to memorize financial ratio formulas and evaluate a company’s performance correctly. In terms of originality, the OME system is the first innovation in the vocational education setting for the Business Finance course. This study aims to describe the OME System and the perception of students and lecturers towards using the OME system in learning analysis ratios in business finance. Quantitative data were gathered from 80 students and 17 lecturers from nine vocational colleges located in the states of Penang, Pahang, and Negeri Sembilan, Malaysia by using a survey. The sampling technique used in this study was convenient sampling. The findings showed that the OME system could serve as instructional and learning materials for Business Finance educators and students in vocational colleges. Besides, the system helped strengthen the memorization of financial ratio formulas among lecturers and students. In addition, students were able to evaluate and make appropriate decisions on a company’s performance based on the application of the system accurately. On top of that, students could compare financial statements across timeframes and industry average ratios efficiently. The system is time-saving in determining financial ratios instead of calculating them manually. Further research will be taken into consideration to extend the potential of the OME system across business programs offered by vocational colleges in Malaysia.
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In-Text Citation: (Oh et al., 2022)
To Cite this Article: Oh, Z. J., Kamar, M. H., Rahman, M., Ramli, S. K. A., Mohamad, S., and Chin, H. C. (2022). The Perception of Students and Lecturers towards Using The OME System in Learning Business Finance in Vocational Colleges, Malaysia. International Journal of Academic Research in Business and Social Sciences. 12(6), 445– 457.
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