Innovision Fall 2018

FALL 2018 | 13 Professor David Wagaman advocate of the Accounting Advisory board. ACCOUNTING ADVISORY BOARD Professor David Wagaman initiated the creation of the an Accounting Advisory board. Their goal is to prepare strategic planning processes to help students succeed in the field of accounting. Who is the Accounting Advisory Board made up of? Twenty-two of the twenty-four members of the board are alumni of the accounting program with a substantial range of ages and experiences. For example, one of the boardmembers, a 1990 graduate, is the managing partner of KPMG’s New York Metro Tax Practice (KPMG is a “Big Four” accounting firm). Another board member is a December 2017 graduate who is in the first year of his career. Having said that, a good majority of the members are leaders in their organizations and are positioned to help our students obtain internships and full-time positions. What does the Accounting Adivsory Board do? We have had two meetings to date. What has proven invaluable in those meetings is hearing the members’ views on how well our students are prepared for the job market and how well they perform as interns and full-time employees. In our October meeting there was a lengthy and robust discussion of how recent graduates do not conform to the practices of recruits from prior generations. One thing that was mentioned frequently is the expectation by new professionals for a greater work-life balance. We as faculty members also see changes in students and what motivates them. There was general agreement that changes were necessary by both practitioners and faculty in certain areas to ensure an adequate pipeline into the accounting profession in the future. We also discussed curriculum matters. Two things that we need to constantly monitor is the rapid technological change that is occurring in accounting and the 150 credit-hour requirement that is required to become a licensed certified public accountant. The advisory board has given us some very good ideas on how to address those matters. Among themselves and our faculty, the members share knowledge about industry trends and practices. For instance, there was much discussion in our October meeting about the impact and complexity of the Qualified Business Income deduction, which was enacted as part of the Tax Cuts and Jobs Act of 2017. A goal that we have for the board is to provide networking opportunities (e.g. interaction) with our students. Accordingly, we scheduled our first meeting in April to end just prior to the Accounting Club’s annual banquet. In October we had the meeting, a luncheon, and then the Accounting Club’s Golf Outing in the afternoon. Finally, we are asking the board members to support the accounting program financially by making donations that will fund things like scholarships. Kutztown already has a similar board for the business department. Why did you feel that Accounting needed its own space? We are not unique in having a college or department – level advisory board and a separate one for a particular major or discipline. While some issues may be common to all majors there are many distinct issues in the various disciplines. Furthermore, it was an action item in the department’s strategic planning process. I believe that was the case because the accounting program has had a very successful history. In recent years we have faced some challenges and the input from an advisory board will help us meet those challenges. What’s the overall goal of this group? What is the big picture? In short, improve what we do. That is accomplished by knowing what prospective employers desire from new hires and then making sure we meet that by supplying well-qualified candidates. Internally, it means making our students aware of the opportunities in accounting and how they can take advantage of those opportunities. Without an advisory board, we arguably might not have the recurring input to make timely changes.