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Letters to the Editor Students Don't Have the Business Sense to Deal With Accounting Issues Good article, very bluntly accurate. I have complained for 20 years that college students don't have the business sense to deal with accounting issues. As the tax system grows more historically complex (like all the different depreciation methods for real estate over the last 20 years) it gets harder if not impossible to find students with productive skills. And the financial accounting arena has grown more complex as well with the growth of the GASB and a whole new set of standards for the non-profit sector as well. There is practically little or no consistency or uniformity across industry sectors in today's financial accounting and reporting. The "profession" as defined by the American Institute of CPAs and state societies continues its elder mushroom mentality by insisting on implementing the 150-hour education requirement rule which gets all of us nowhere! Why is it so hard to see the obvious practical or internship" experience which should be more of CPA education? Maybe in another 20 years when the elder mushrooms have died because of the coming out into the light, will we see some turn around in CPA education. Effectively, this is what the Big Five are doing anyway. And of course we continue to prostitute our audit franchise into the depths of loss-leading merchandising and marketing consulting crapola (a technical term first heard from my mother, a teacher, who never totaled or balanced her check book). Actually, prostitutes would be offended at the techniques CPAs use, at least the pros make money and don't hide behind rules and regulations created to deflect responsibility for doing what they get paid for. -- Jan. 8, 2001 |
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