Assessment for Learning: Formative Assessment, Goal Setting, and Academic Performance in First-Year Accounting at an Emerging South African University

Abstract

In the post-pandemic era, enhancing student learning through innovative strategies is critical. Research has shown that formative assessment can be utilised to enhance academic success. Grounded in Assessment for Learning (AFL), Self-Regulated Learning (SRL), Expected-Value Theory, and Goal Setting Theory, this study investigates how formative assessment design and self-regulatory processes jointly shape student academic performance. Secondary data from first-year accounting students were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings reveal that formative assessment is not uniformly developmental. Also, goal setting emerges as a significant predictor of examination performance. However, no significant moderation effect is observed, suggesting that regulatory processes operate additively rather than multiplicatively. The study advances an Assessment Ecology Model, demonstrating that academic success depends on the coherence between assessment designs, self-regulation, and circular complexity. The findings provide actionable insights for assessment reform, learning analytics, and equity-oriented curriculum design in emerging higher education contexts.