About 60 members of the accounting profession chewed over highly complex issues and case studies last month at the Robert M. Trueblood Seminars for Professors, two conferences intended to improve education for students in accounting.
This event, hosted by The Deloitte Foundation and the American Accounting Association (AAA), is in its 48th year.
A major piece of the conference was discussion on 25 complicated case studies, now posted on the Deloitte Foundation’s website for students to mull over, although their solutions are available to faculty only.
A case entitled “Philadelphia Communications,” for example, places the student in the shoes of a summer intern working on the audit of a communications company. This case challenges “interns” to find disclosure issues that are specifically applicable to their communications company, and it requires them to dig through the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification to do it.
These case studies, which are available for classroom learning, are an essential service to enhance the classroom experiences for future members of the accounting profession, says Shaun Budnik, president of the Deloitte Foundation, in a press release. The Trueblood seminars are also an important opportunity for accountants and accounting teachers to get together and “meaningfully examine the profession and the current business environment.”
Case studies that demonstrate practical accounting problems are meant to give students hands-on knowledge for the business world. But students entering the accounting profession will likely get the opportunity to use their knowledge right away: According to the National Association of Colleges and Employers (NACE), those with accounting majors are most likely to get job offers after graduation, followed by engineering and computer science.
But discussion on the outlook for finance jobs in 2013 on job search website Monster.com notes that these jobs are an “either-or” proposition: Some accounting and finance graduates may struggle to get good jobs if they lack the right skills. The biggest demands, Monster explains, are for accountants who have specializations in new regulations such as the Dodd-Frank Act, which primarily covers the banking industry, or in International Financial Reporting Standards (IFRS), a new set of accounting standards for large public companies.
Above all, the top accountants will have specializations that they can market to employers, the post explains. That means it is important to get additional certifications, such as those offered by the American Institute for Certified Public Accountants, or through firms such as Deloitte.
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