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American Institute of Certified Public Accountants. Academic and Career Development Division

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University of Mississippi eGrove Newsletters American Institute of Certified Public Accountants (AICPA) Historical Collection 9-1995 Accounting Educators: FYI, Volume 7, Number 1, September 1995 American Institute of Certified Public Accountants. Academic and Career Development Division Follow this and additional works at: https://egrove.olemiss.edu/aicpa_news  Part of the Accounting Commons American Institute of Certified Public AccountantsAccounting EducatorsVolume VII, Number 1 — September 1995Survey Reveals Hot Topics for EducatorsTechnology and CriticalThinking Top ListIn this issue...Survey Reveals Hot Topics for Educators..................... 1Rick Elam —Don’t Doubt It for a Minute —The 150-Hour EducationRequirement........................... 2News and Notes:Dr. A. Tom Nelson Wins AICPA Educator Award............... 2Accounting Educators: FYI Wins APEX Award........... 2AAA Graduate Accounting Program Resource Document on the Internet................. 2The Supply of Accounting Graduates and the Demand for Public AccountingRecruits—1995 Published ....2AICPA Doctoral Fellowship Award Winners................. 2Request for Comment fromAICPA Board of Examiners ....2Financial Management 2000 Workshop Results............2Register for 1995 AICPA Accounting Educators Mini-Conference, “Emerging Curriculum Trends and Instructional Techniques, ” in Tampa, Florida, onNovember 3-4, 1995................3New! Recommended Readings for Accounting Educators........ 4 Approximately 100 accounting educators responded to a fax survey included in the May 1995 issue of FYI and provided updated information on training prefer­ences. This feedback is being utilized by the AICPA to customize future con­tinuing education programs to meet current educator needs.To gauge topical preferences, the survey asked respondents to choose three topics from various ones listed under both the “teaching effective­ness” and “curriculum development” categories. Choices reflected topics in which respondents were most likely to seek additional training. The most popular topic under the teaching effec­  From the Editor’s Desk...Welcome back and thank you for your participation in the CPE fax survey conducted in the May 1995 issue of FYI. Because of your feedback, the AICPA is able to tailor programs to meet your current continuing education needs. One such program is the 1995 AICPA Accounting Educator’s Mini-Conference, “Emerging Curriculum Trends and Instructional Techniques," offered on November 3-4, 1995, in Tampa, Florida. I am confident that you will find the program offerings outlined on page 3 to be timely and responsive. Please register early, by mail or fax, as attendance at this popular conference is limited.Also, in response to your desire to keep current on accounting and corporate finance trends, the AICPA Curriculum and Instruction in Accounting Education Subcommittee has compiled a list of recent articles, from business and professional journals, for your recommended reading. The selected articles will update you on timely and significant business and accounting issues for coverage in the classroom. I hope that you find the listing to be a handy and time-saving resource and look forward to seeing many of you at the Mini-Conference in November.Elizabeth Scifo KochEditortiveness category was “integrating technology into the curriculum,” as chosen by over two-thirds of the respondents. Second choices in this category, selected by approximately half of the respondents, were “defining and measuring skill competencies” and “using cases in the classroom.”Under the “curriculum develop­ment” category, the most popular topic was “critical thinking skills,” closely followed by “current accounting prac­tice and corporate finance trends,” both selected by about half the respondents. The third preference, indicated by 40 percent of the respondents, was for training on “FASB and other account­ing, auditing and tax updates.” □Rick ElamViewpoint:Don’t Doubt It for a Minute!Question: What will happen if some states have not implemented a requirement that new CPAs have at least 150 semester hours of college education by the year 2001 ?Answer: People becoming CPAs with less than 150 hours of education will not be eligible for membership in the AICPA and will face difficulty obtaining a license to practice in other states.In 1988, the AICPA membership voted overwhelmingly to modify its Bylaws to require that applicants for membership after the year 2000 have obtained 150 semester hours of educa­tion at an accredited college or univer­sity including a bachelor’s degree or its equivalent. The Bylaws do not require any changes in state CPA license laws. However, part of the reason for the amendment was to encourage states toNews and NotesDr. A. Tom Nelson, University of Utah, has been selected as the winner of the 1995 AICPA Lifetime Achievement in Accounting Education Award. Dr. Nelson is distinguished for his commitment to teaching, his leadership in promoting the 150-hour requirement and his active involvement in the accounting profession. An award will be presented to Dr. Nelson in recognition of his contribution to accounting education at the AICPA Fall Meeting of Council on October 22-24, 1995.Accounting Educators: FYI has won a 1995 APEX Award for Publication Excellence. APEX awards are sponsored by the editors of Writing Concepts: The Business Communica­tions Report, published by Communications Concepts, Inc. Awards are based on excellence in graphic design, editorial content and overall communications effectiveness.The AAA Graduate Accounting Program Resource Document, with comprehensive information on graduate accounting programs upgrade their education requirements. The AICPA has assisted states in enact­ing legislation that would require new CPAs to have 150 semester hours of education as a requirement for certifica­tion and licensure. Today, 32 of the 54 jurisdictions have passed 150-hour legis­lation, and several states are moving the requirement through their legislature.During July 1995 the AICPA Board of Directors decided that the Institute should redouble its efforts to encour­age and assist states to pass 150-hour legislation and begin planning for imple­mentation of the requirement. Efforts will be focused on the unique needs of individual states via creation of task forces or steering committees. States may recommend that the AICPA fund a public relations campaign targeted to legislators in that state and/or employ a lobbyist to help the society move the legislation.A few states may not pass the requirement until several years after the turn of the century. However, many new CPAs from those jurisdictions willof 37 U.S. institutions, is retrievable through the Internet at: HTTP://ANET.SCU.EDU.AU/ANET/ EDUCATION/STOUT-REPORT/INDEX.HTML.The Supply of Accounting Gradu­ates and the Demand for Public Accounting Recruits —1995 was published by the AICPA Academic and Career Development Division and recently mailed to accounting department heads of all schools surveyed, recruiting contacts at the 25 largest CPA firms and state society executive directors.The AICPA granted a total of $155,000 to 31 selected CPAs pursuing a career change to academe as part of the 1995-96 AICPA Doctoral Fellowship Award Program. New awards of $5,000 each went to Steven Ault (Montana State University), Mark Brad­shaw (University of Georgia), Malcolm McLelland (Washington State University), Lisa Milici (University of Miami) and Ola Marie take it upon themselves to obtain suf­ficient education to qualify for AICPA membership because it will set them apart from their less-educated compe­tition. Over the next few years the AICPA will create a system for review­ing college transcripts to determine eligibility for membership.The AICPA is committed to the 150 semester-hour requirement for new members and will work hard to help states pass the requirement for licensure. Don’t doubt for a minute that the Institute will implement and enforce the membership requirement starting January 1, 2001. □In the May issue of FYI, Rick Elam’s editor­ial, “Is Double-Entry Bookkeeping Relevant?” attracted lots of comment. To continue the discussion, a message thread has been opened on the Accountants Forum on CompuServe. CompuServe subscribers can access the Forum by typing GO AICPA, then access the Message Center, and view the messages posted under the title “Double-Entry Relevant?”Smith (Wayne State University). Twenty-six fel­lowships were renewed.This month, a request for com­ment paper will be issued by the AICPA Board of Examiners on issues surrounding possible computeriza­tion of the Examination and structural alternatives. The Institute needs your thoughts and comments. To obtain a copy of the request for comment, please call the AICPA Order Department at 1-800-862-4272 and ask for product number 800095.The consensus reached by business and academic leaders at the Financial Manage­ment 2000 Workshop held on April 24-25, 1995, was that finance and accounting face a decade of massive and fundamental change. “Retooling and reskilling” the finance function was said to be necessary in order to add value to business decision-making processes, and information is deemed to be the “next competi­tive weapon” of accountants.2 September 1995 □ Accounting Educators: FYIAICPA Academic and Career Development DivisionannouncesTHE 1995 ACCOUNTING EDUCATORS MINI-CONFERENCE “EMERGING CURRICULUM TRENDS AND INSTRUCTIONAL TECHNIQUES” November 3—4, 1995, in Tampa, Floridain cooperation with theUniversity of South FloridaPROGRAMThursday, November 26:00p - 8:00p RegistrationFriday, November 37:00a- 5:00p Registration7:00a - 8:00a Continental Breakfast8:00a - 10:00a Plenary: You Too Can Be a Better Teacher (G. Peter Wilson, Massachusetts Institute of Technology; Thomas R. Dyckman, Cornell University)10:00a - 10:30a Refreshment Break10:30a - 12:30p Plenary: You Too Can Be a Better Teacher continued12:30p- 1:30p Luncheon (Education Update: by Rick Elam, VP-Education, AICPA)1:30p- 3:00p CONCURRENT SESSION #1Say Goodbye to Chalkdust: Using Presentation Software in Class (Kevin Michel, Business Learning Solutions)CONCURRENT SESSION #2New Trends in Management Accounting (Joseph Fisher, Indiana University)3:00p - 3:30p Refreshment Break3:30p - 5:00p CONCURRENT SESSION #3 Fraud Detection and Prevention (Kevin D. Stocks, Brigham Young University)CONCURRENT SESSION #4My Computer’s On, Now What Do I Do? (Charles E. Davis, Baylor University)6:30p- 8:00p Reception8:00p - 10:00p Plenary: Innovative Ideas for Enhancing Your Program Through Student Events and Activities(Delta Gamma Chapter of Beta Alpha Psi, University of South Florida)Saturday, November 47:00a- 8:00a Continental Breakfast7:00a-12:30p Registration8:00a - 10:00a CONCURRENT CASE SESSIONS1995 Professor/Practitioner Cases10:00a - 10:30a Refreshment Break10:30a - 12:30p CONCURRENT CASE SESSIONS repeatedCPE: 16 hours maximum1994-95 Program Committee: Linda M. Nichols, Chair(Texas Tech University); Kevin D. Stocks (Brigham Young University); Gary L. Lawrence, CPA; Charles E. Davis (Baylor University)THE 1995 AICPAAccounting Educators Mini-Conference November 3—4, 1995, at Tampa, FloridaREGISTRATION FORMRegistration Fee: $195 (AICPA MEMBERS)/$225 (NON-MEMBERS)Please register me for the 1995 AICPA Accounting EducatorsMini-Conference (Check one):□ Please bill my credit card: □ MasterCard □ Visa $AmountFax only credit card registrations to 201-938-3169Complete the following information:Card # Exp. DateSignature____________________________________________________□ My check for $payable to AICPA is enclosed.(Full payment must accompany registration.)Mail to: AICPA Meetings Registration, PO Box 2210, Jersey City, NJ 07303-2210.BATES =___________________(AICPA use only)Registrant’s Last Name First MI NicknameCollege or University Name or AffiliationStreet Address Room Number or Mail DropPost Office BoxCity State Zip CodeAICPA Membership Number— Area Code & Daytime TelephoneRequired for Discounted RegistrationName and telephone number of individual to contact in case of emergency□ Please send information pertaining to services for the physically disabled:What is the nature of your disability? □ Audio □ Visual □ MobileHOTEL INFORMATION: Reserve your hotel accommodations directly. Call the Hyatt Regency Westshore at (813) 874—1234 by October 5, 1995. After October 5, rooms will be on a space-available basis only. Identify yourself as an attendee of the AICPA Accounting Educators Mini-Conference in order to obtain our group rate of $130 for a single or double room. To guarantee your room for late arrival, a credit card number or hist night's deposit is required.CANCELLATION POLICY: Full refunds will be issued on written cancellations received by October 13. 1995. Written cancellations received after October 14 but before October 27, 1995, will be issued a refund less a S25 administrative charge. No refunds will be issued on cancellation requests received after October 27. 1995.AIRLINE DISCOUNT: US Air is offering an exclusive discount for this conference. Call them at (800) 334-8644 and refer to File =19.370011 to receive 5% off the lowest available fare or 10% oil regular coach fare. (The AICPA is not liable for penalties incurred if you cancel or change your airline reservations.)FOR FURTHER INFORMATION: Call the AICPA at (201) 938-3232.Register early as space is limited!September 1995 □ Accounting Educators: FYI 3Recommended Readings for Accounting EducatorsThe following list of suggested readings are based on the AICPA Curriculum and Instruction in Accounting Education Subcommittee’s review of recent, widely available business and professional journals. The objective of providing this listing is to communicate current, business and accounting issues in an easy, timely manner to accounting educators for integration into the curriculum. The listing, sorted by topical area, is not intended to be comprehensive and neither the AICPA nor the Subcommittee endorses any of the viewpoints expressed in the articles. Selected articles cover broad issues of business strategy, technology and accounting/finance.Business StrategyCurtis, Mary B., “Control Risks in Executive Information Systems,” IS Audit and Control Journal (Vol. II, 1995), pp. 30-34.Flaherty, Daniel J., Raymond A. Zimmerman and Mary Ann Murray, “Benchmarking Against the Best,” Journal of Accountancy (July 1995), pp. 85-88.Galloway, Duncan J., “Control Models in Perspective,” Internal Auditor (Dec. 1994), pp. 46-52.Hermanson, Roger H., Joseph V. Carcello, Dana R. Hermanson, Bernard J. Milano, Gerald A. Polansky and Doyle Z. Williams, “Bet­ter Environment, Better Staff,” Journal of Accountancy (April 1995), pp. 39-43.Ramanathan, Kavasseri V. and Douglas S. Schaffer, “How Am I Doing?” Journal of Accountancy (May 1995), pp. 79-82.Roehm, Harper A., Donald Klein and Joseph F. Castellano, “Blending Quality Theories for Continuous Improvement,” Management Accounting (Feb. 1995), pp. 26-32.Romney, Marshall, “Business Process Reengineering,” Internal Auditor (June 1995), pp. 24-29.Sapienza, Russel J. Jr., “Looking for the 800 lb. Gorilla: An Interview with Bill Smillie,” IS Audit and Control Journal (Vol. 1, 1995), pp. 15-18.Smith, Timothy K., “Forty Years of Winning Ideas with Staying Power,” Fortune (May 15, 1995), pp. 191-212.TechnologyBeauchemin, Tim and John Graves, “CPAs on the Information Superhighway,” The CPA Journal (April 1995), pp. 18-22.Curtis, Mary B., “Executive Information Systems,” IS Audit and Control Journal (Vol. II, 1995), pp. 25-28.“Electronic Data Interchange Tops Tech List,” Accounting Today (May 8-21, 1995), pp. 37.Khani, Patricia E. and Stanley Zarowin, “A Journal Survey: Counting on Technology,” Journal of Accountancy (May 1995), pp. 59-68.Kirkpatrick, David, “As the Internet Sizzles, Online Services Battle for Stakes,” Fortune (May 1, 1995), pp. 86-96.Rifkin, Glenn “A Skeptic’s Guide to Groupware,” Forbes ASAP (June 5, 1995), pp. 76-91.Siegel, Jessica, “The State of Teacher Training,” Electronic Learning (May/June 1995), pp. 43-53.Weiss, Gary, “Online Investing,” Business Week (June 5, 1995), pp. 64-78.Accounting and FinanceByrnes, Nanette, Kathy Rebello, Paul Magnusson, John Meehan and Jeffrey M. Laderman, “The Smart 401 (k),” Business Week (July 3, 1995), pp. 58-67.Cron, R. William and Randal B. Hayes, “Employee Stock Ownership Plans: New Accounting for These Fables,”The CPA Journal (July 1995), pp. 38-42.Fellows, James A, “A Conceptual Analysis of the Flat Tax,” The CPA Journal July 1995), pp. 18-22.Fitzsimons, Adrian P, Marc H. Levine and Joel G. Siegel, “Comparability of Accounting and Auditing in NAFTA Countries,” The CPA Journal (May 1995), pp. 38-44.Molar, Roger H. D. and James F. Green, “The Question of Derivatives,” Journal of Accountancy (Mar. 1995), pp. 55-61.Winograd, Barry N. and Robert H. Herz, “Derivatives: What’s an Auditor to Do?” Journal of Accountancy (June 1995), pp. 75-80.Published five times each academic year by the AICPA Academic and Career Development Division, 1211 Avenue of the Americas, New York, NY 10036-8775, telephone (212) 596-6219. Exceptwhere otherwise copyrighted, reproduction of the material in the publication is encouraged and permitted if source acknowledgement is made and a copy of the reproduction is sent to the editor. Inaddition, we welcome submissions for consideration for publication. Please send all submissions and inquiries to the editor at the address above. Opinions expressed in the publication do not nec­essarily reflect policy of the American Institute of Certified Public Accountants. Elizabeth Scifo Koch, editor4 September 1995 □ Accounting Educators: FYI

Accounting Educators: FYI, Volume 7, Number 1, September 1995

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Accounting Educators: FYI, Volume 7, Number 1, September 1995

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