The divergence between traditional educational paradigms in accounting and the digital lifeworld of Generation Z students has created significant challenges for instructor–student interaction and learning effectiveness. This study aimed to explore the lived experiences of accounting instructors and explain the discursive order governing these interactions, with a focus on addressing declining educational effectiveness and redefining instructors’ professional identities in response to generational change. Using purposive sampling, semi-structured qualitative interviews were conducted with 10 accounting instructors. Data were analyzed through a combination of thematic analysis, to identify patterns emerging from lived experiences, and discourse analysis, to examine underlying structures of power and meaning. The findings revealed that traditional educational hegemony has weakened in the face of Generation Z’s information symmetry. In the emerging paradigm, the instructor’s identity has shifted from an information provider to an “authenticating facilitator,” whose primary role is to guide and verify the flow of information rather than merely transmit knowledge. Moreover, the gap between learning speed and analytical depth has contributed to weakened professional skepticism among students. At the discursive level, a tension between “traditional accuracy” and “modern speed” was identified, accompanied by changes in sources of knowledge and educational authority and the emergence of the “multiskilled instructor.” The study concludes that accounting education requires a shift from process-oriented to analysis-oriented learning, offering practical implications for reforming teaching practices and reconstructing instructors’ professional identities.