June 26, 2000 (SmartPros) - PROVO, Utah - Changes at the high school level are needed to assure the future of accounting education and a steady supply of qualified candidates into the profession, according to a leading accountancy educator.
With the number of students enrolled in accounting degree programs steadily decreasing and fewer candidates sitting for the CPA Examination, accounting education needs to be reformed, said W. Steve Albrecht, an accountancy professor and associate dean at Brigham Young University.
Many critics argue the 150-hour rule, now implemented in the majority of states, is to blame for these declines. But Albrecht attributed the drops to more attractive opportunities in information systems and finance. He said the 150-hour rule "is being used as a scapegoat."
Albrecht's views will get a wide airing in August at the American Accounting Association annual meeting in Philadelphia. With professor Robert J. Sack, at the University of Virginia in Charlottesville, Albrecht will present the findings of "Strategic Thinking on Accounting Education for the 21st Century."
The study, commissioned by the AAA, American Institute of CPAs, Institute of Management Accountants and Big Five firms, is designed to understand how future accounting education should be modified to prepare students for work in the rapidly changing accounting field and business environment. The study will be published and distributed on Aug. 12, one day prior to the annual meeting, and will be discussed on Wed. Aug 16, the last day of the AAA conference.
Salaries simply aren't keeping up, says Albrecht. Ten years ago accounting graduates entered the accounting field as highly paid professionals, but today accounting salaries are no longer as competitive. In addition, the accounting field is not perceived as an attractive profession, even though is has changed drastically with the advent of computers, accounting software programs and technology that has allowed accountants to spend less time crunching numbers and more time with customers.
"Computers and technology have replaced what we have taught," said Albrecht. "A lot can be done using software."
To combat declining accounting enrollment, Albrecht said high schools are the place to start.
High school career counselors need updated information. Career aptitude tests need to properly reflect today's profession. Introductory accounting courses at both the secondary and early post-secondary level need to be less technical in order to emphasize accounting's role in the business environment and to show students that it isn't just about number-crunching.
The AICPA and IMA are already working hard at the high school level to change perceptions of accounting, contended Albrecht.
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