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MARCH Features
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Special Millennium
Series
Entrance to the
Profession
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The
Perilous Future of Accounting Education
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By W. Steve Albrecht and
Robert J. Sack
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Critics of
accounting education point to declining student enrollments
and practitioner dissatisfaction as evidence that the programs
have failed to remain relevant. Here, the authors analyze
their exhaustive survey (sponsored by the AAA, IMA, AICPA, and
Big Five) of the current crisis and suggest how accounting
education can become a vibrant part of the profession’s
future. (Article)
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Championing Dynamic
State Regulation
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An Interview with
David A. Costello
By
Robert H. Colson
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David A.
Costello, president and CEO of NASBA, is committed to making a
century-old state licensing system effectively regulate a
changing profession. His primary challenge: getting the state
boards to accept a Uniform Accountancy Act that ensures ease
of mobility for licensees and continues to protect a dynamic
public interest. (Article)
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150-Hour Preparation
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By William
J. Read, K. Raghunandan, and Clifford Brown
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Although it
has come under increasing scrutiny, the 150-hour requirement
was intended to produce CPA candidates with superior skills
and knowledge. The question is whether the increased
requirement has, in practice, lived up to this promise. Given
the improved performance of 150-hour candidates on the CPA
exam, the answer is yes. (Article)
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Plus:
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| Auditing Derivatives and
Securities
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| By Paul Munter and Thomas A. Ratcliffe
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SAS No. 92 was issued to help
auditors prepare for SFAS No. 133, which requires that
derivatives be reported at fair value. To this end, auditors
face particular challenges in finding evidence to support
management’s assertions as to the existence, completeness, and
valuations of derivatives that the standard and its audit
guide try to address. (Article)
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| Developing the Knowledge
Base of New Tax Professionals
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By Donald Samuelson
and Paul G. Schloemer
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Researchers
have found a strong connection between a practitioner’s
knowledge base and job performance. By following training
methods aimed at enhancing knowledge—such as specialized
experience, higher-level job tasks, and quality
CPE—professionals can perform at a higher level. (Article)
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