Improving accounting's image might lure students back

By Bill Sheridan
MACPA Electronic Communications Manager

The first step in alleviating a critical shortage of accounting students is to offer potential students a more positive image of the CPA profession, Maryland educators say.

The Maryland Association of CPAs' first student recruitment summit, held in September to discuss waning student interest in the accounting profession, also produced other ideas for combating the problem. But after nearly four hours of discussion, the 29 educators and advisors in attendance reached a united conclusion: The image of the profession must change if enrollment is to increase.

"Every student I talk to, I ask, 'What do the career counselors tell you?'" said MACPA Executive Director J. Thomas Hood III. "And they say, 'If you're introverted and don't like working with people and are good at math, you ought to be a certified public accountant.' That’s the message that's being sent to prospective CPAs."

Recent drops in enrollment have been profound. Accounting majors made up 2 percent of the student body nationwide in 2000, down from 4 percent in 1990. Even worse, only 1 percent of high school students last year said they planned to major in accounting in college, down from 4 percent in 1990.

The reason is often attributed to the negative perception many students have of CPAs. The image of back-room "bean counters" with little human interaction no longer applies; today, CPAs are trusted professionals who enable people and organizations to shape their future. The challenge now is to convince students.

It's a recurring theme in discussions with MACPA members. At the association's Leadership Day in June, volunteers said enhancing the image of CPAs — with both the public and CPAs themselves — is one of the most important opportunities facing the profession — so important, in fact, that it should be near the top of the MACPA’s list of priorities.

Educators and their advisors seem to agree, and at September's summit, they offered insightful ideas for alleviating the problem:

Robert Weilminster, a member of Loyola College’s Accounting Advisory Board, said getting students out of the classroom and giving them some real-world experience goes a long way toward changing their perception of the profession.
Dr. Phil Korb, chair of the University of Baltimore’s Accounting Department, said high school guidance counselors need to rethink the way they present the profession to students.
Joseph Lanciano, a member of the Bowie State University faculty, suggested enlisting high-profile CPAs to speak to students about the more glamorous aspects of their jobs, including potential salaries.

Image isn't the only culprit

But there are other problems as well. In a report titled Accounting Education: Charting a Course Through a Perilous Future, W. Steve Albrecht and Robert J. Sack said the following factors also are driving students away from careers in accounting:

a drop in starting salaries;
the availability of more attractive career alternatives;
an increased willingness among students to choose risky majors and career tracks.

Contrary to one school of thought, Hood cited recent studies that have indicated the "150-hour rule" does not contribute to the drop in enrollment. And while all educators at September's summit stressed the importance of communicating the 150-hour requirement to students, only one-third of the group included it on their personal lists of the top three issues affecting enrollment in accounting programs.

Accounting curricula in both high schools and colleges also came under scrutiny. Educators said they need the resources to align their courses with the CPA Vision and the skill sets that the New Economy requires.

But implementing such changes might be easier said than done.

"We might have a better draw if I could get (the students) out there to visit accounting firms, if I could get guest speakers to come into the classroom," said Sandra Balcer, a professor at Howard Community College. "It's not that our school doesn't support doing this; it's that I don't have the time to go seek the resources when I have to meet all of the technical requirements (of the curriculum)."

That's one of many issues that must be addressed. Indeed, much work still must be done. Suggestions included conducting a follow-up summit with involvement from more faculty and including the issue as part of the MACPA’s Educator’s Conference in January.

"The factors that were raised here are good to consider. One of my concerns would be that we can't stop here," said Brian Loughlin, director of accounting and an associate professor at the University of Maryland University College. "This is all well and good, but we have to come up with some tangible ideas, a specific direction, some specific follow-up."

MACPA President John I. Wilson agreed. In fact, Wilson said, reversing the downward trend in enrollment will require collaboration from educators, businesses, and the MACPA and its members.

"Though we are all coming at this problem from different angles, we all have a major stake in the issue," he said. "A viable solution can only come if we all put our heads together."