EDUCATION ...

This month, The CPA Journal’s Millennium Series continues with a three-part section analyzing the issues surrounding entrance to the accounting profession. A landmark study written by respected academicians Steve Albrecht and Robert Sack and sponsored by the top national accounting organizations and the Big Five firms concludes that the existing model for college-level accounting education is resistant to change, which has diminished its relevance and prompted calls for reform. The authors’ proposed solutions include embracing the technological advances that have rendered traditional accounting programs obsolete.

David Costello, president and CEO of the National Association of State Boards of Accountancy (NASBA), shares his perspective on the profession’s major challenges and initiatives. He says the jury is still out on the 150-hour requirement, and expresses confidence (not merely optimism) that every corner of the profession—including education and regulation—will rise to the challenge.

Finally, another study presents some optimistic statistics: Candidates that have met the 150-hour requirement perform better on the CPA exam than those that have not. Combined with Albrecht and Sack’s findings, this indicates that the 150-hour requirement may be a factor but not the factor in the falling numbers in accounting program enrollment numbers. Finding a solution to the problems plaguing the entrance to the profession will require more than just naming a scapegoat—it will take focused creativity and a willingness to change.

The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting professionals. It is edited by CPAs for CPAs. Our goal is to provide CPAs and other accounting professionals with the information and news to enable them to be successful accountants, managers, and executives in today's practice environments.