Purpose: The objective of the paper is to explore and evaluate practical accounting education to find its weaknesses and suggest avenues to build strengths which will provide the market with effective accountants from the universities (the primary source of accountants). Design/methodology/approach: The study uses semi-structured interviews to understand and extract the study problem and build the questionnaire; the final step is to analyse and interpret the questionnaire results based on structured interviews, dividing the research community into professors and market elements, business managers and university graduates. Findings: The market has provided a negative evaluation of practical education. Reasons include a shortage of instructors with professional experience; curriculums that lack the topic of professional and ethical skills; and internships if provided, with unsatisfactory results. The study suggests accounting simulation labs as a reasonable substitution for the placement year (internship) if the labs are qualified and the internship results unsatisfactory. Originality/value: This article is based on a multiregional research community, making results transferable to any country that faces a lack of professional accounting education. The applied evaluation method is capable of use by any other field in the business industry since accounting is part of this industry.