Educators’ Conference reinforces task force’s work

By Don Butt, CPA

The 2007 MACPA Educators’ Conference was held on Jan. 5 at the Holiday Inn Columbia in Jessup. Eighty-Five attendees gathered to share information pertaining to the support and development of accounting educators, students and accounting program curriculum.

Topics for this year’s conference were divided between morning sessions that focused on preliminary findings derived from the ongoing work of the MACPA Accounting Education and Career Task Force, and afternoon sessions that focused on key topics important to the support of accounting educators and students.

Progress report from the Accounting Education and Career Task Force

The morning session started with a review of the progress of the MACPA’s Accounting Education and Career Task Force. The mission of the task force is “to significantly enhance the educational and career process for those intending to enter the CPA profession in Maryland.” MACPA members Jeff Lawson (Stoy Malone), Brian Lazarus (Baltimore City Community College), Gerry Lindner (Ernst & Young) and Bruce Lubich (UMUC) presented a review of key objectives and an operational framework for integrating the needs of students, educators and employers.

The follow-up topic, presented by MACPA member Don Butt (Mount St. Mary’s University), focused on a discussion of techniques that can be used to enhance the writing skills of accounting students. The identification of writing-skill weaknesses is one of the early outcomes of the work of the task force. The presentation included examples of exercises that can be used to infuse more effective writing into the accounting curriculum.

Tackling one of the difficult challenges in accounting education were educators and MACPA members Lawrie Gardner and Roy Carson. Their discussion of developing the correct classroom balance between breadth and depth of topic coverage generated a lively audience discussion about the competing needs of accounting education and how those needs are best served. From curriculum content needs to CPA exam eligibility and content knowledge needs to employer skill-set needs, the educator in the classroom is required to constantly refine and adjust the delivery of an accounting education.

The exam, the 150 and student debt

The afternoon sessions were kicked off by MACPA and Maryland State Board of Public Accountancy member Barbara Stewart (also a professor at Towson University). The presentation included a review of the CPA peer review requirements, a discussion of CPA exam results, and educational requirements needed to sit for the CPA exam, including an update on the status of the UAA current rules and exposure draft.

MACPA members Kenneth Smith (Salisbury University) and Jay Goldman (RSM McGladrey) identified unintended consequences of the 150-hour rule. They noted that the unintended consequences emanate from the disconnect between the articulated goals of the 150-hour requirement and the denoted means for meeting the requirement. The ability of students to obtain 30 hours beyond the normal 120-hour undergraduate requirement (in subject areas completely unrelated to the intent of the 150-hour rule) creates a potential source of failure to reach the enhanced goals of the program.

Suggestions to reduce the disconnect included more effective advising of students to lead them into coursework that will truly complement the accounting major and achieve the goals of the 150-hour program, and perhaps ideally leading to the student’s achievement of earning a master’s degree in a complementary discipline.

The administration of and content coverage within the CPA exam has changed in recent years. Mike Farrell of Becker CPA Review and Phil Yaeger, CPA, of Yaeger CPA Review reviewed key aspects of how to better prepare students for success with the CPA exam. The review included a discussion of multiple-choice, simulation type and written communication skill questions by CPA exam section.

Hyacinth Ezeka (Coppin State University) addressed the growing crisis in student debt.

Sixty-six percent of students in four-year educational institutions have student loans.
In the past 10 years, the debt level of graduating students has increased by 108 percent.
Average student debt for the class of 2005 averaged $15,000 to $20,000 for Maryland and surrounding states.

The rising level of student debt appears to be a contributing factor in the delay of implementing such major life decisions as moving out from the parents’ home, purchasing a first home, saving for retirement, and marriage and children.

Words of wisdom from young CPAs

Building upon a successful presentation from the 2006 conference, the closing session for the 2007 conference was delivered by relatively recent accounting program graduates. Michele Andrews, CPA (RSM McGladrey) and hopefully soon-to-be CPA Jamey Ayers (Sturgill & Associates) highlighted the collective voice of Generation Y accounting students. Key comments included the importance of an accounting internship while a student, the general satisfaction with academic preparation related to financial accounting, and the desire for a stronger link between academic coursework and the necessary skill and delivery requirements necessary to be a successful professional.

The success of the 2007 conference was significantly enhanced by the well-rounded participation of MACPA members and colleagues as speakers and participants and the support and efficient direction of MACPA staff. The MACPA’s Members in Education Committee wishes to thank each of these valuable contributors.

Don Butt, CPA, is an assistant professor of acccounting and finance at Mount St. Mary's University.

Contact this Author: < Donald Butt > donbuttcpa@comcast.net