Assessment plays a central role in shaping student learning, motivation, and skill development in accounting education. Traditionally, accounting programs have relied heavily on end-of-semester examinations to evaluate student performance. However, growing concerns about surface learning, exam anxiety, and misalignment with professional competencies have led educators to increasingly adopt continuous assessment approaches. This paper provides a comprehensive comparative analysis of continuous assessment and traditional examinations in accounting education. Drawing on educational assessment theory and existing literature, the study examines the impact of both approaches on learning outcomes, conceptual understanding, practical skill development, student engagement, and academic integrity. A conceptual framework is proposed to illustrate how assessment design influences learning processes and graduate competencies. The paper argues that while traditional examinations offer standardization and efficiency, continuous assessment provides richer evidence of learning and better alignment with the demands of modern accounting practice. The study concludes with pedagogical implications and recommendations for adopting balanced, hybrid assessment models in accounting programs