In addition to technological advances, Everest College’s Godbold lists a number of non-technological factors that are changing the accounting field, including demographics, globalization and corporate scandals. “The reality of demographics is something we can’t ignore. Millions of accountants from the baby-boomer generation are expected to retire in the next five to ten years. This means that accountants at all levels of experience will be in demand,” she says.
Globalization is another factor changing the accounting field. “Due to the growth of international trade and business, companies are increasingly looking for accountants that have a good understanding of international business, who speak a foreign language or who are available to work overseas,” says Godbold.
Roxanne Phillips, accounting faculty member at Everest College explains another exciting development in the accounting field, known as fair value accounting. “Recently, we have actually seen the emergence of a new approach to accounting and risk, called fair value accounting.” Fair value accounting recognizes the current worth of assets, instead of the cost of acquiring them. “It seems like a simple premise, but it is actually challenging the very foundations of traditional accounting. Fair value accounting is helping CEOs reevaluate the current worth of their companies and better assess what they can afford to invest,” says Phillips.
Recent media attention from corporate accounting scandals has also increased the demand for accountants with experience in fraud-detection, making forensic accounting degrees in high demand. “In the past, businesses waited until an ethics breach was suspected before investigating, but today, many companies are realizing they can’t afford to wait. They are bringing in forensic accounting specialists to tighten procedures and prevent fraud before it happens,” says Phillips.
Phillips explains the need for accounting schools to adapt to these changes. “In our accounting courses at Everest College, we realize that if we really want to prepare our graduates to be the next wave of accountants, then we have to stay abreast of recent developments in the accounting field.”
Phillips explains that all of these changes are making accounting very appealing to students. “We tell our students this isn’t their father’s accounting field.” She says that students are very excited about all the possibilities an accounting degree brings. “When our students learn about the possibility of working in international business or fraud investigation, they always want to learn more.”
Phillips says that even if they aren’t interested in a specific kind of accounting, they are interested in the job security. “At the very least, our students know they will be in high demand upon graduating. For some students, that’s all they need to know.”
To learn more about degrees in accounting, visit www.everest.edu.
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If you’re a frequent business traveler, you’ve probably stayed in your share of boring hotels where you’re lucky to have cable, much less Internet access. But, due to the demands of today’s technology-advanced society, many of these properties are being replaced by hotels that are pioneering some of the most innovative technology-based amenities.
With iTASTE, guests can journey through a gourmet cheese, chocolate or wine tasting experience using state-of-the-art iPod technology without having to leave the hotel. Simply stop by the hotel’s Epicurean Boutique/Über Coffee Bar, MOKA, where baristas help you select a tasting program and serve you with an iPod and a tasting tray at a community table that was designed specifically for iTASTE. Press play and you are guided through a podcast of your tasting choice, which costs $25 each and lasts about 10 to 15 minutes per program. When finished, you get a souvenir DVD of the experience to take home and share what you’ve learned.
It’s been said it’s not easy being green - but in today’s business, it’s being said a lot. Everywhere you turn, there’s more about the “greening” of America. This is certainly true with American businesses striving to build new and remodeled offices to meet the latest sustainability standards and certifications.
Allsteel recently received LEED certification for three new office furniture showrooms in Atlanta, San Francisco and Santa Monica. Luly points out several of the LEED features it implemented during the design and construction process and notes that other businesses may take these into account when they pursue a similar path for their interiors.
It’s no cliché: Small businesses really are the backbone of the American economy. Representing 99.7 percent of all employer firms, nearly 25 million small businesses have created 60 to 80 percent of the new jobs annually over the past decade, according to the Small Business Administration.
Are you still storing your business contact info in your e-mail program or on your cell phone? Or, worse yet, is your “database” a collection of business cards stashed in a shoe box? Stunning as it may seem, a significant number of small business owners still use outdated methods to store important business contact information.
The secret to success in the business world is not necessarily what you know, but how efficient you are at getting your job done. Need help in that department?
The cubicle - love them or hate them, if you work in an office, chances are you’ve spent some time in a cubicle.