There are work requirements needed in each and every business that have no direct relation to its revenue contribution. Among these requirements are the accounting tasks, which many businesses may regard as administrative work, but are not part of the core aspects of the business. Because of this, there are now a great number of business owners who have turned to getting outsource accounting services, most of which are from firms or freelancers.
However, since outsource accounting has also increased in popularity, there has been an evolution seen on the procurement of such types of outsource services. Now, business owners are seeking of more efficient and cost-effective ways for their accounting tasks to be done. As such, there are many of them now that have become conscious of the benefits and other values that come with getting an online accountant. There is no need to worry on hidden costs which are being given to traditional accountant and all the rests of the costs associated with accounting, including software installation, constant upgrading of programs and backups.
What Is an Online Accountant?
So what is really special about getting an online accountant? For one, he is responsible for delivering organized reports and records of a companies finances through a technology based on the Internet. Through using this service, which is actually also a form of outsource service, business owners and their staff can already make use of their time, spent on doing accounting tasks before, on other more important functions. They would already be able to concentrate more on providing better services or products to their clients as well as see to the other demands that these clients might ask of them. In getting an online accountant, there would be more efficiency in the business flow, thus resulting in staying ahead of the competition.
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Benefits
There are other benefits to getting an online accountant as well. Aside from providing more time and an increased efficiency to the work staff and the business owners, an outsourced accountant can also be a means towards the reduction or the saving of business expenses. This is because getting an online accountant could spare a business owner from the cost of having to employ an in-house and full-time employee to do his job. More savings can also be gained through this online accountant because all of the transactions between him and the company that has hired his services will be done through the Internet. There will also be less paperwork to contend with because all of the records of the companies finances can be accessed only through a secure server.
Getting an online accountant also guarantees that all the crucial financial tasks needed to be done in your business are done by an expert that is using first-rate accounting technology. As this technology allows access to the server where the financial records are kept to anyone that has been given the permission, business owners and all the other employees entrusted to view these records could do so at the same time, whenever and wherever they want to.
So if you want your business to project an image of organization and efficiency, then getting an online accountant is the best hiring move for you. This way, you will not only get more customers to be attracted in availing of your products or services, but also get potential investors to come streaming through your doors as well.
Monday, June 14, 2010
Wednesday, June 9, 2010
Understanding Company Annual Reports
An annual report is primarily undertaken for the protection of shareholders and includes financial highlights, chairman's statement and director reports.
There are several aims associated with a company's annual report which include the following: to provide protection to shareholders, information to mangers, customers and suppliers as well as help for prospective shareholders thinking of investing in the company. The company report is used to satisfy legal reporting requirements and is also used by the chairman and directors as a means of advertising.
According to Langdon & Bonham (2006) annual reports typically consist of the following areas:
* Mission statement
* Financial highlights
* Chairman's statement
* Chief executive and directors' reports
* Operations review
* Auditors report
Company Annual Reports - Mission Statement
A mission statement (for anyone who has not seen 'Jerry Maguire!') is basically a strategy statement which explains the intent or vision of the company and is usually shown on either the front cover or clearly laid out on the first page of the report. Ideally, mission statements should be short and simple to comprehend. This statement must then be identified as being relevant to the content of the report in order for it to be valid.
Company Annual Reports - Financial Highlights
Following the mission statement, the next part of the annual report is used to show a financial comparison between the company's performance during previous year and the year before. It is important to always bear in mind when reading the financial highlights that as interesting as it may be it is highly likely that any figures will have been very carefully chosen in order to make the company look as profitable as investment as possible.
Company Annual Reports - Chairman's Statement
The chairman's statement is essentially associated with laying out the company's main intentions and will usually include information on critical aspects relating to issues from the past and those in the future. Key sections identified in this statement will include areas such as dividends, structural information, personnel information as well as focusing on main trading aspect from the previous year.
In terms of dividends, the chairman described a strategy on dividend in the future which will have been put together by the board.
Company Annual Reports - Chief Executive/Directors' Reports
This area is legally required to provide certain information such as issues relating to profit, dividend figures, research and development. Key aspects associated with this section of the report include details on remuneration, shares, interest, donations (charitable/political), auditors and creditor payment policies. Most director reports will also offer additional information, for example regarding employment of disabled personnel, environmental and corporate issues.
Company Annual Reports - Operations Review
The operations review is key to understanding the company's strategy and will involve employees at all different levels from those on the shop floor right up to directors. This is a means of attempting to ensure that what is happening in all areas of the company is tying in with intentions of the directors. Obviously, this is no easy task as it effectively requires open communication throughout the entire company .
Company Annual Reports - Auditors' Report
Finally, the annual report will also contain the auditors' report which basically is used to identify that the auditors have undertaken necessary work and how this was completed. A key aspect of this report is what the auditors' opinion are regarding the prepared accounts and whether there are any doubts expressed in relation to specific accounting methods.
As highlighted above, the annual report is useful for shareholders, customers, managers and suppliers as well as being a legal requirement. Key aspects of the annual report include financial highlights, operations review and both the chairman and directors' reports.
Source:
There are several aims associated with a company's annual report which include the following: to provide protection to shareholders, information to mangers, customers and suppliers as well as help for prospective shareholders thinking of investing in the company. The company report is used to satisfy legal reporting requirements and is also used by the chairman and directors as a means of advertising.
According to Langdon & Bonham (2006) annual reports typically consist of the following areas:
* Mission statement
* Financial highlights
* Chairman's statement
* Chief executive and directors' reports
* Operations review
* Auditors report
Company Annual Reports - Mission Statement
A mission statement (for anyone who has not seen 'Jerry Maguire!') is basically a strategy statement which explains the intent or vision of the company and is usually shown on either the front cover or clearly laid out on the first page of the report. Ideally, mission statements should be short and simple to comprehend. This statement must then be identified as being relevant to the content of the report in order for it to be valid.
Company Annual Reports - Financial Highlights
Following the mission statement, the next part of the annual report is used to show a financial comparison between the company's performance during previous year and the year before. It is important to always bear in mind when reading the financial highlights that as interesting as it may be it is highly likely that any figures will have been very carefully chosen in order to make the company look as profitable as investment as possible.
Company Annual Reports - Chairman's Statement
The chairman's statement is essentially associated with laying out the company's main intentions and will usually include information on critical aspects relating to issues from the past and those in the future. Key sections identified in this statement will include areas such as dividends, structural information, personnel information as well as focusing on main trading aspect from the previous year.
In terms of dividends, the chairman described a strategy on dividend in the future which will have been put together by the board.
Company Annual Reports - Chief Executive/Directors' Reports
This area is legally required to provide certain information such as issues relating to profit, dividend figures, research and development. Key aspects associated with this section of the report include details on remuneration, shares, interest, donations (charitable/political), auditors and creditor payment policies. Most director reports will also offer additional information, for example regarding employment of disabled personnel, environmental and corporate issues.
Company Annual Reports - Operations Review
The operations review is key to understanding the company's strategy and will involve employees at all different levels from those on the shop floor right up to directors. This is a means of attempting to ensure that what is happening in all areas of the company is tying in with intentions of the directors. Obviously, this is no easy task as it effectively requires open communication throughout the entire company .
Company Annual Reports - Auditors' Report
Finally, the annual report will also contain the auditors' report which basically is used to identify that the auditors have undertaken necessary work and how this was completed. A key aspect of this report is what the auditors' opinion are regarding the prepared accounts and whether there are any doubts expressed in relation to specific accounting methods.
As highlighted above, the annual report is useful for shareholders, customers, managers and suppliers as well as being a legal requirement. Key aspects of the annual report include financial highlights, operations review and both the chairman and directors' reports.
Source:
Sunday, June 6, 2010
Accounting – The Language of Finance
First, A Bit of Humor
There is an accountant's story that goes like this: Once there was a man who was the chief accountant for a major business in town. This man had a reputation for being the most knowledgeable accountant in the area and co-workers and accountants in other firms would frequently call him when they had questions or problems with the their work.
Like most stereotypical accountants, this man was predictable, numbers oriented, methodical and quiet in manner - basically dull. However, he did have one quirk that had everyone intrigued and that was his morning routine. Each morning he would arrive, in his gray flannel suit with attache case in hand, at precisely 7:55 AM and go straight to his office. Upon entering his office he would place his briefcase on the credenza and open it after which he would hang up his coat and hat. Then, reaching into his pocket, he would remove a set of keys, unlock the middle drawer of his desk, remove a slip of paper, read it, return the paper to the drawer, and re-lock the drawer before stepping out of his office to greet his fellow employees before starting work.
Everyone who knew him assumed that that piece of paper he read every morning contained some great bit of wisdom, but no one had the courage to approach him and ask to see it. This routine was followed faithfully for thirty-five years up to and including the day he retired. That afternoon on the day of his retirement his co-workers threw a little party for him and, during the party, one of the employees finally got up the courage to ask the chief accountant if he would let everyone see what was on the slip of paper in his desk. Of course was the reply. Whereupon the chief accountant unlocked the drawer and handed the mysterious slip of paper to his inquiring subordinate.
Glancing at the paper the subordinate saw two lines of four words each which read:
Debits on the left.
Credits on the right.
The Accounting Equation
While accounting can appear to be very complex and confusing, it is, at its heart a very simple and logical system. The basic concept behind double entry bookkeeping is that each transaction that a business or household enters into is recorded in at least two accounts - accounts being classification units used for reporting purposes. Recording is done in a T shaped ledger with the left side of the T being used to record debit transactions and the right side for credit transactions. For each amount entered in the debit (left) side of a ledger of one account an equal amount must be entered in the credit (right) side of corresponding account.
What is happening here is that every transaction involves an exchange or trade between the seller and the buyer. When I buy my afternoon candy bar from the snack bar at work I trade or exchange seventy-nine cents of my cash for one candy bar. If I were recording this in a double entry accounting system I would enter 79¢ on the credit or right column of my cash account which would indicate that my cash holdings have decreased by 79¢ and 79¢ a second time on the debit or left side of my expense account showing that my energy (I need the candy bar to get through the afternoon) expenses have increased by 79¢. At the end of the day when I add up all of my credits in the right column of my ledgers and all of my debits in the left side of my ledgers the totals in both columns should be equal. If they are not, I have made a mistake and not properly accounted for all of my transactions.
The bigger and more complex the operation, the more accounts it will have. However, all accounts fall under one of three categories which are: assets, liabilities and capital (also called owner's equity or net worth in the case of an individual or household). These three main categories come together in what is known as the accounting equation which is written as:
Assets = Liabilities + Capital
Assets are everything that a business or household owns.
Liabilities are what the business or household owes to others.
Capital is all of the property (including cash) that the owner of a business has invested in the business. In the case of a household capital or net worth is the property which the individual/household owns outright and does not have any outstanding loan against it).
For example, assume a college student owns a car worth $10,000, a computer worth $1,000 and a TV worth $300. All three of these are property owned by the student which makes them assets. However, assume that the student borrowed money to purchase the car and still owes the bank $5,000 on the car loan which is a liability.
The difference between the total value of the student's assets is $11,300, while her liabilities consist of the $5,000 car loan. Her net worth or capital is the difference between the assets she owns ($11,300) minus what she owes on them ($5,000) which works out to $6,300. Returning to our accounting equation we have:
Assets = Liabilities + Capital
$11,300 = $5,000 + $6,300
$11,300 = $11,300 (the equation is in balance)
Thus, while the total account debits must equal the total account credits, the sum of the balances in the asset accounts must equal the sum of the balances in the liability accounts plus the sum of the balances in the asset accounts.
What confuses many people, including me, is whether particular debits represent increases or decreases in accounts and the same for credits. Actually debits and credits can each represent either an increase or a decrease in the account DEPENDING UPON THE TYPE OF ACCOUNT.
In the graphic below the five major types of accounts are shown along with an arrow showing whether the debits and credits for that type serve to increase or decrease the balance in that account. The five types include the previously discussed Asset, Liability and Capital plus Expenses in which are recorded the costs incurred by the business or household and Revenue in which are recorded any types of income received by the business or household. Notice that in Asset and Expense accounts a debit entry represents an increase in the account while in the other three account types a debit entry represents a decrease in the account. For credits the opposite occurs.
There is an accountant's story that goes like this: Once there was a man who was the chief accountant for a major business in town. This man had a reputation for being the most knowledgeable accountant in the area and co-workers and accountants in other firms would frequently call him when they had questions or problems with the their work.
Like most stereotypical accountants, this man was predictable, numbers oriented, methodical and quiet in manner - basically dull. However, he did have one quirk that had everyone intrigued and that was his morning routine. Each morning he would arrive, in his gray flannel suit with attache case in hand, at precisely 7:55 AM and go straight to his office. Upon entering his office he would place his briefcase on the credenza and open it after which he would hang up his coat and hat. Then, reaching into his pocket, he would remove a set of keys, unlock the middle drawer of his desk, remove a slip of paper, read it, return the paper to the drawer, and re-lock the drawer before stepping out of his office to greet his fellow employees before starting work.
Everyone who knew him assumed that that piece of paper he read every morning contained some great bit of wisdom, but no one had the courage to approach him and ask to see it. This routine was followed faithfully for thirty-five years up to and including the day he retired. That afternoon on the day of his retirement his co-workers threw a little party for him and, during the party, one of the employees finally got up the courage to ask the chief accountant if he would let everyone see what was on the slip of paper in his desk. Of course was the reply. Whereupon the chief accountant unlocked the drawer and handed the mysterious slip of paper to his inquiring subordinate.
Glancing at the paper the subordinate saw two lines of four words each which read:
Debits on the left.
Credits on the right.
The Accounting Equation
While accounting can appear to be very complex and confusing, it is, at its heart a very simple and logical system. The basic concept behind double entry bookkeeping is that each transaction that a business or household enters into is recorded in at least two accounts - accounts being classification units used for reporting purposes. Recording is done in a T shaped ledger with the left side of the T being used to record debit transactions and the right side for credit transactions. For each amount entered in the debit (left) side of a ledger of one account an equal amount must be entered in the credit (right) side of corresponding account.
What is happening here is that every transaction involves an exchange or trade between the seller and the buyer. When I buy my afternoon candy bar from the snack bar at work I trade or exchange seventy-nine cents of my cash for one candy bar. If I were recording this in a double entry accounting system I would enter 79¢ on the credit or right column of my cash account which would indicate that my cash holdings have decreased by 79¢ and 79¢ a second time on the debit or left side of my expense account showing that my energy (I need the candy bar to get through the afternoon) expenses have increased by 79¢. At the end of the day when I add up all of my credits in the right column of my ledgers and all of my debits in the left side of my ledgers the totals in both columns should be equal. If they are not, I have made a mistake and not properly accounted for all of my transactions.
The bigger and more complex the operation, the more accounts it will have. However, all accounts fall under one of three categories which are: assets, liabilities and capital (also called owner's equity or net worth in the case of an individual or household). These three main categories come together in what is known as the accounting equation which is written as:
Assets = Liabilities + Capital
Assets are everything that a business or household owns.
Liabilities are what the business or household owes to others.
Capital is all of the property (including cash) that the owner of a business has invested in the business. In the case of a household capital or net worth is the property which the individual/household owns outright and does not have any outstanding loan against it).
For example, assume a college student owns a car worth $10,000, a computer worth $1,000 and a TV worth $300. All three of these are property owned by the student which makes them assets. However, assume that the student borrowed money to purchase the car and still owes the bank $5,000 on the car loan which is a liability.
The difference between the total value of the student's assets is $11,300, while her liabilities consist of the $5,000 car loan. Her net worth or capital is the difference between the assets she owns ($11,300) minus what she owes on them ($5,000) which works out to $6,300. Returning to our accounting equation we have:
Assets = Liabilities + Capital
$11,300 = $5,000 + $6,300
$11,300 = $11,300 (the equation is in balance)
Thus, while the total account debits must equal the total account credits, the sum of the balances in the asset accounts must equal the sum of the balances in the liability accounts plus the sum of the balances in the asset accounts.
What confuses many people, including me, is whether particular debits represent increases or decreases in accounts and the same for credits. Actually debits and credits can each represent either an increase or a decrease in the account DEPENDING UPON THE TYPE OF ACCOUNT.
In the graphic below the five major types of accounts are shown along with an arrow showing whether the debits and credits for that type serve to increase or decrease the balance in that account. The five types include the previously discussed Asset, Liability and Capital plus Expenses in which are recorded the costs incurred by the business or household and Revenue in which are recorded any types of income received by the business or household. Notice that in Asset and Expense accounts a debit entry represents an increase in the account while in the other three account types a debit entry represents a decrease in the account. For credits the opposite occurs.
Friday, June 4, 2010
How to Prepare a Journal Entry - Accounting Tips Read more at Suite101: How to Prepare a Journal Entry - Accounting Tips
Find out about the five parts to a journal entry and how to decide between debiting or crediting journal entry accounts.
One area of concern for first year accounting students, business students that are only taking accounting because it is a required core class or brand-new bookkeepers is how to prepare journal entries. It is not so much the logistics of presenting the journal entry that causes the most concern but how to figure out which account is debited and which is credited.
Components of a Journal Entry
There are five components to a journal entry:
1. Date: The day on which the account updates are made. For any adjusting journal entries, the date will normally be backdated to the last day of the previous month. Many professional accounting software systems allow the accountant to set up recurring journal entries so in theory a whole year or more of adjusting journal entries could be programmed to post on the last day of each month.
2. Account: This refers to the specific type of asset, liability, revenue, expense or equity account that is being affected by whatever is going on. For example, Cash in Bank is an asset account and Sales is a revenue account.
3. Debit versus Credit: One of the immutable laws of accounting states that assets and expenses are always debited to add to them and credited to subtract from them. Liability, revenue and equity accounts are just the opposite - these accounts are always credited to add to them and always debited to subtract from them. Always, always, always - there is no exception to this rule.
4. Dollar Amount: How much money is changing hands or under the accrual method being accounted for.
5. Description: When writing a description for a journal entry there is a fine line between writing one that is too brief and one that is excessively long. The accountant's goal is to keep the description to the minimum yet be understandable to anyone that might review the journal entry after it has been prepared and posted - for example an external auditor.
Journal Entry Example
On June 5, A retail shop buys $500 of inventory merchandise from ABC Inc.; $100 was paid in cash and $400 of the cost was charged on account.
Here is how the retail shop prepares the journal entry to account for this purchase:
Debit: Merchandise Inventory $500.00
Credit: Cash $100.00
Credit: Accounts Payable $400
Explanation: To record merchandise inventory purchase from ABC Inc.
Journal Entry Standards
In properly written journal entries debits are always shown first. Debits are shown to the left and credits are offset slightly to the right. Finally, debits must equal credits. As shown in this example, total debits of $500 equal total credits ($100 plus $400) $500.
One area of concern for first year accounting students, business students that are only taking accounting because it is a required core class or brand-new bookkeepers is how to prepare journal entries. It is not so much the logistics of presenting the journal entry that causes the most concern but how to figure out which account is debited and which is credited.
Components of a Journal Entry
There are five components to a journal entry:
1. Date: The day on which the account updates are made. For any adjusting journal entries, the date will normally be backdated to the last day of the previous month. Many professional accounting software systems allow the accountant to set up recurring journal entries so in theory a whole year or more of adjusting journal entries could be programmed to post on the last day of each month.
2. Account: This refers to the specific type of asset, liability, revenue, expense or equity account that is being affected by whatever is going on. For example, Cash in Bank is an asset account and Sales is a revenue account.
3. Debit versus Credit: One of the immutable laws of accounting states that assets and expenses are always debited to add to them and credited to subtract from them. Liability, revenue and equity accounts are just the opposite - these accounts are always credited to add to them and always debited to subtract from them. Always, always, always - there is no exception to this rule.
4. Dollar Amount: How much money is changing hands or under the accrual method being accounted for.
5. Description: When writing a description for a journal entry there is a fine line between writing one that is too brief and one that is excessively long. The accountant's goal is to keep the description to the minimum yet be understandable to anyone that might review the journal entry after it has been prepared and posted - for example an external auditor.
Journal Entry Example
On June 5, A retail shop buys $500 of inventory merchandise from ABC Inc.; $100 was paid in cash and $400 of the cost was charged on account.
Here is how the retail shop prepares the journal entry to account for this purchase:
Debit: Merchandise Inventory $500.00
Credit: Cash $100.00
Credit: Accounts Payable $400
Explanation: To record merchandise inventory purchase from ABC Inc.
Journal Entry Standards
In properly written journal entries debits are always shown first. Debits are shown to the left and credits are offset slightly to the right. Finally, debits must equal credits. As shown in this example, total debits of $500 equal total credits ($100 plus $400) $500.
Thursday, June 3, 2010
Why Study in University of Essex
University of Essex is one of the U.K’s leading academic institutions, known for its international reputation of teaching and research .University of Essex received its Royal Charter in 1965. University of Essex is ranked 8th for its quality of teaching. Institute of Social and Economic Research (ISER) is a leading research centre for the analysis of panel data in Economics and Sociology Center. Economics department of Essex University is ranked 3rd among all other departments in U.K. Psychology courses of University of Essex are recognized by the British Psychology Society. Department of Sociology has been awarded highest rating by National Research Assessment. Department of Computer Science & Electronic Engineering is ranked 5th for student satisfaction in national Student Survey. University of Essex is the first university to establish postgraduate degree in International Human Rights Law in U.K.
University of Essex is ranked top for its Social sciences Department. University of Essex has achieved matrix standard for its student support services. University of Essex has achieved Energy Efficiency Accreditation for its continued investment into energy efficiency. University of Essex provides first class IT facilities and online learning material so that students can study while sitting at home. University of Essex provides online training to teach basics of window and office up to the level required for European Computer Driving License. study in UK university of Essex is a national centre to collect data related to social and economic affairs from academic, governmental and commercial sources in order to make the data available for further analysis. University of Essex is involved in the development of cultural hub strategy. This strategy aims to build rich cultural activities in town and surrounding area. University of Essex has Albert Sloman Library (ASL).This library is equipped with one million books, pamphlets, e-publications and microforms. Library provides 1,115 reader places for students. Computer laboratories of University of Essex are equipped with 500 modern Window PC’s.
Essex University's student support offers advice on many welfare issues including finance and funding, benefits available to students etc University of Essex provides counseling services to its students. Counseling staff offers assistance with educational, social, personal or emotional concerns. All counseling’s are kept confidential. Essex University is highly concerned about the health of its students. There is health centre which offers National Health services including appointments with male and female doctors, nurse for emergency, specialist nurse clinics including asthma, diabetes & sexual health .University of Essex provides state of art dental education unit. This unit offers free dental care service to its students. University of Essex provides paid work placement .This placement helps students in developing employability skills. Essex University provides online vacancy service for its students. University of Essex post vacancies for work experience, internships, gap year and voluntary work positions. University of Essex provides flexible degree courses to its students. In first year students can study four or five subjects and they can study other subjects in next year. Science degrees of University of Essex provides an optional year of industrial placement. Accounting and Finance of University of Essex is ranked 2nd by research assessment exercise. PALLAS programme of University of Essex is ranked as 6th best LLM course in Europe and 10th best in world. School of Law is ranked 5th by research assessment exercise. Department of History of University of Essex is placed 2nd in U.K.
University of Essex is ranked top for its Social sciences Department. University of Essex has achieved matrix standard for its student support services. University of Essex has achieved Energy Efficiency Accreditation for its continued investment into energy efficiency. University of Essex provides first class IT facilities and online learning material so that students can study while sitting at home. University of Essex provides online training to teach basics of window and office up to the level required for European Computer Driving License. study in UK university of Essex is a national centre to collect data related to social and economic affairs from academic, governmental and commercial sources in order to make the data available for further analysis. University of Essex is involved in the development of cultural hub strategy. This strategy aims to build rich cultural activities in town and surrounding area. University of Essex has Albert Sloman Library (ASL).This library is equipped with one million books, pamphlets, e-publications and microforms. Library provides 1,115 reader places for students. Computer laboratories of University of Essex are equipped with 500 modern Window PC’s.
Essex University's student support offers advice on many welfare issues including finance and funding, benefits available to students etc University of Essex provides counseling services to its students. Counseling staff offers assistance with educational, social, personal or emotional concerns. All counseling’s are kept confidential. Essex University is highly concerned about the health of its students. There is health centre which offers National Health services including appointments with male and female doctors, nurse for emergency, specialist nurse clinics including asthma, diabetes & sexual health .University of Essex provides state of art dental education unit. This unit offers free dental care service to its students. University of Essex provides paid work placement .This placement helps students in developing employability skills. Essex University provides online vacancy service for its students. University of Essex post vacancies for work experience, internships, gap year and voluntary work positions. University of Essex provides flexible degree courses to its students. In first year students can study four or five subjects and they can study other subjects in next year. Science degrees of University of Essex provides an optional year of industrial placement. Accounting and Finance of University of Essex is ranked 2nd by research assessment exercise. PALLAS programme of University of Essex is ranked as 6th best LLM course in Europe and 10th best in world. School of Law is ranked 5th by research assessment exercise. Department of History of University of Essex is placed 2nd in U.K.
Love A Practical Job? Opt For An Auto Mechanic
Do you love to work with your hands? Are you a creative person? Are you up to the challenges? Are you in love with machines, specially cars? Then an auto mechanic (sometimes known as a car mechanic) job may be perfect for you.
What is the Profession?
A car mechanic is a profession where people specializes in automobile repairing, maintenance and modifications and does a practical job of repairing, maintaining, and modifying a vehicle with the help of the knowledge and expertise. In this profession, you draw a salary according to your certifications and/or your experience.
What are the qualities?
The qualities needed for this job are diverse. Firstly, a passion for a job of this kind is much needed. A creative person who is interested in this kind of job is eligible for a good working profile and a stable income if he is certified from any accepted courses such as Automotive Service Excellence (ASE) etc. or classes of schools such as NASCAR etc.
These are great professions if you are not much into traditional courses or don’t like them and instead have a passion for how things work. The person must also have an on-the-job training if he is a fresher. A car mechanic should be good at reading machineries and manuals.
He must be familiar with common tools such as ranges, screw-drivers, hammers etc. and know proper handling of them. Another great and essential quality for a car mechanic is to continue studying even after he has found a job. This enables him to be compatible with latest models of vehicles.
How to get what you want?
If you are interested in this profile from high school, it would be great idea to take up courses like electrical and mathematics or physical sciences, even if you are not fond of them. The evolution of this job requires him to be electrically knowledgeable too.
Apprenticeships and training programs are to be sought after from these days if you are serious in your ambition. After high school join a professional auto maintenance course or some equivalents and/or join a mechanic shop as a part-time parts runner. Do some more certifications (the more, the better) and look for an employer who offers opportunities for continued professional development through trainings and certifications.
If you have passion for the job and are up for the challenge, this may be a great career to consider, where you can start earning in a short amount of time. The pay is well and experienced mechanics can work regular day hours. Also an auto mechanic can opt for a vehicle of his liking such as car, aircraft, motorcycle or marine.
What is the Profession?
A car mechanic is a profession where people specializes in automobile repairing, maintenance and modifications and does a practical job of repairing, maintaining, and modifying a vehicle with the help of the knowledge and expertise. In this profession, you draw a salary according to your certifications and/or your experience.
What are the qualities?
The qualities needed for this job are diverse. Firstly, a passion for a job of this kind is much needed. A creative person who is interested in this kind of job is eligible for a good working profile and a stable income if he is certified from any accepted courses such as Automotive Service Excellence (ASE) etc. or classes of schools such as NASCAR etc.
These are great professions if you are not much into traditional courses or don’t like them and instead have a passion for how things work. The person must also have an on-the-job training if he is a fresher. A car mechanic should be good at reading machineries and manuals.
He must be familiar with common tools such as ranges, screw-drivers, hammers etc. and know proper handling of them. Another great and essential quality for a car mechanic is to continue studying even after he has found a job. This enables him to be compatible with latest models of vehicles.
How to get what you want?
If you are interested in this profile from high school, it would be great idea to take up courses like electrical and mathematics or physical sciences, even if you are not fond of them. The evolution of this job requires him to be electrically knowledgeable too.
Apprenticeships and training programs are to be sought after from these days if you are serious in your ambition. After high school join a professional auto maintenance course or some equivalents and/or join a mechanic shop as a part-time parts runner. Do some more certifications (the more, the better) and look for an employer who offers opportunities for continued professional development through trainings and certifications.
If you have passion for the job and are up for the challenge, this may be a great career to consider, where you can start earning in a short amount of time. The pay is well and experienced mechanics can work regular day hours. Also an auto mechanic can opt for a vehicle of his liking such as car, aircraft, motorcycle or marine.
Wednesday, June 2, 2010
Pick Up an Accounting Course as Per Your Interest
Pick Up an Accounting Course as Per Your Interest
Students aspiring to make career in accounting need to go through some specified accountant courses to get perfection in the field. There are various courses for accountants available on both online and offline. The accountant position needs well-educated and qualified personnel. For example, a bachelor degree is necessary to be comptroller. Some organizations are demanding Master’s degree in finance or accounting. However much depends on the works of the organization. The knowledge of latest accounting and financial software, payroll procedure, economic activities, interpretation of financial data, communication skill and management system is a vital factor to sustain in the organization.
The assistant managers are expected to have at least bachelor’s degree in management or arts related field. However, aspirants from the science background with excellent communication skill can be considered for the post. Further, the fresher candidates can gradually move on to the senior management posts and after gaining substantial experience they can give outstanding performance. There are certain course descriptions that are prerequisites for the students interested in the accounting.
The courses of financial accounting emphasize on how the accountants process, present, adjust, balance and prepare financial statements for service. The balance of the course examines major elements of the statements including cash, receivables, depreciation, bonds and many other liabilities. The courses of managerial accounting are focusing on the internal reporting and decision-making. The courses introduce the approach of business management, decentralized operations, capital budgeting and other ethical challenges in management. The auditing course concentrates on the planning, internal control review, sampling and application of procedures taken to audit assets, equity, liabilities and other income statement accounts.
One can access online bachelor’s degree in accounting that is being offered by many colleges and institutions. These courses are very useful for those who are unable to attend college or live at a distance. This degree program offers flexibility and provides all the necessary information. The enrollment procedure for this course varies in case of different colleges. There are many types of accounting courses available in the institutions. These courses can be categorized, such as Bachelor of Science in Business, Administration/Corporate Finance, and Bachelor of Science in Business / Finance, Bachelor of Science in Business Administration – Finance, and Bachelor of Business Administration (BBA) - Accounting and Finance. Students can find the course materials related to the Financial Accounting and Reporting, Auditing, Taxation, and Business Concepts. Sample lectures can give you in-depth view of the course.
Students aspiring to make career in accounting need to go through some specified accountant courses to get perfection in the field. There are various courses for accountants available on both online and offline. The accountant position needs well-educated and qualified personnel. For example, a bachelor degree is necessary to be comptroller. Some organizations are demanding Master’s degree in finance or accounting. However much depends on the works of the organization. The knowledge of latest accounting and financial software, payroll procedure, economic activities, interpretation of financial data, communication skill and management system is a vital factor to sustain in the organization.
The assistant managers are expected to have at least bachelor’s degree in management or arts related field. However, aspirants from the science background with excellent communication skill can be considered for the post. Further, the fresher candidates can gradually move on to the senior management posts and after gaining substantial experience they can give outstanding performance. There are certain course descriptions that are prerequisites for the students interested in the accounting.
The courses of financial accounting emphasize on how the accountants process, present, adjust, balance and prepare financial statements for service. The balance of the course examines major elements of the statements including cash, receivables, depreciation, bonds and many other liabilities. The courses of managerial accounting are focusing on the internal reporting and decision-making. The courses introduce the approach of business management, decentralized operations, capital budgeting and other ethical challenges in management. The auditing course concentrates on the planning, internal control review, sampling and application of procedures taken to audit assets, equity, liabilities and other income statement accounts.
One can access online bachelor’s degree in accounting that is being offered by many colleges and institutions. These courses are very useful for those who are unable to attend college or live at a distance. This degree program offers flexibility and provides all the necessary information. The enrollment procedure for this course varies in case of different colleges. There are many types of accounting courses available in the institutions. These courses can be categorized, such as Bachelor of Science in Business, Administration/Corporate Finance, and Bachelor of Science in Business / Finance, Bachelor of Science in Business Administration – Finance, and Bachelor of Business Administration (BBA) - Accounting and Finance. Students can find the course materials related to the Financial Accounting and Reporting, Auditing, Taxation, and Business Concepts. Sample lectures can give you in-depth view of the course.
Online Accounting Studies Possible via the Internet
Online Accounting Studies Possible via the Internet
The global economic recession may have had an unfavorable effect on many fields of work all over the world; however, the need for competent accounting and financial services professionals is now greater than ever. An online bachelors/associate degree in accounting provides prospective and existing accountancy professionals a boost in their careers from the comfort of their own homes.
Online accounting programs have many benefits for prospective professionals, who can work around their schedules and gain valuable knowledge in order to improve their competency in accounting and open the doors to better opportunities. Generally accounting has varied applications for individual corporate business models; there are however some general areas in accounting that are widely recognized as being inherently and individually separated.
Types of Accounting
General Financial Accounting:
This is the recording, retrieval and summarization of corporate/individual financial data. This involves auditing, generating a periodic profit and loss summary, balance sheets and cash flow statements and includes the aspects relating to legal and business requirements.
Management Accounting and Open Book Accounting
This form of accounting is the representation of data and financial summaries for corporate financial decision makers. Open book accounting is an accounting principle to ensure accounting transparency in democratic organizations as well as others.
Tax Accounting:
This is corporate of individual accounting that is meant to ensure compliance with tax laws and regional tax regulations.
Financial Audits
Financial audits can be both internal and external. Internal accounting is similar to management accounting, as it also provides audit summaries to internal corporate decision makers. These audits are carried out by employees of the corporation itself. The external audit is the audit of a corporate entity by external – independent auditor(s); auditors examine financial records and summaries in order to verify their adherence to generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS).
Accredited Online Accounting Certifications
Traditional campus based and online accounting colleges and schools have recently been offering more customized study programs for students who wish to learn using blended courses and study-from-home programs. Here is a list of some of the major accountancy related programs available in online study formats from major colleges and universities. These courses are accredited and are being offered in a variety of blended/ online formats. Many of these courses mentioned vary in levels of practical versus theoretical knowledge, with emphasis on further opportunities in either the field itself as a professional, as an entrepreneur or in academia.
Online Graduate Programs in Accounting:
- Master of Science in Accounting
- Master of Accountancy
- MBA Accounting
- MBA in Professional Accounting
- MBA/Accounting and Finance
- Master of Science in Accounting - Public Accounting/ Taxation
Online Undergraduate Program in Accounting:
- Bachelor of Science in Business Administration – Accounting
- Bachelor of Science in Accounting
- Bachelor of Arts in Accounting
- Bachelors of Arts in Organizational Management / Managerial- Accounting
- Bachelors of Science in Accounting in Public-General Accountancy/ Tax Accountancy/ Auditing-Forensic Accountancy
- Bachelors of Science in Multidisciplinary Studies - Accounting
Online Associate programs in Accounting
Associate of Science in Accounting
Associate of Arts in Accounting
Associate of Applied Science in Accounting - Financial Accounting/ Financial Investigation/ Banking
Associate of Science in Business- Accounting
Resource Area:
DISCLAIMER: Above is a GENERAL OVERVIEW and may or may not reflect specific practices, courses and/or services associated with ANY ONE particular school(s) that is or is not advertised on SchoolsGalore.com.
Copyright 2007 - All rights reserved by Media Positive Communications, Inc.
Notice: Publishers are free to use this article on an ezine or website, provided the article is reprinted in its entirety, including copyright and disclaimer, and ALL links remain intact and active.
The global economic recession may have had an unfavorable effect on many fields of work all over the world; however, the need for competent accounting and financial services professionals is now greater than ever. An online bachelors/associate degree in accounting provides prospective and existing accountancy professionals a boost in their careers from the comfort of their own homes.
Online accounting programs have many benefits for prospective professionals, who can work around their schedules and gain valuable knowledge in order to improve their competency in accounting and open the doors to better opportunities. Generally accounting has varied applications for individual corporate business models; there are however some general areas in accounting that are widely recognized as being inherently and individually separated.
Types of Accounting
General Financial Accounting:
This is the recording, retrieval and summarization of corporate/individual financial data. This involves auditing, generating a periodic profit and loss summary, balance sheets and cash flow statements and includes the aspects relating to legal and business requirements.
Management Accounting and Open Book Accounting
This form of accounting is the representation of data and financial summaries for corporate financial decision makers. Open book accounting is an accounting principle to ensure accounting transparency in democratic organizations as well as others.
Tax Accounting:
This is corporate of individual accounting that is meant to ensure compliance with tax laws and regional tax regulations.
Financial Audits
Financial audits can be both internal and external. Internal accounting is similar to management accounting, as it also provides audit summaries to internal corporate decision makers. These audits are carried out by employees of the corporation itself. The external audit is the audit of a corporate entity by external – independent auditor(s); auditors examine financial records and summaries in order to verify their adherence to generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS).
Accredited Online Accounting Certifications
Traditional campus based and online accounting colleges and schools have recently been offering more customized study programs for students who wish to learn using blended courses and study-from-home programs. Here is a list of some of the major accountancy related programs available in online study formats from major colleges and universities. These courses are accredited and are being offered in a variety of blended/ online formats. Many of these courses mentioned vary in levels of practical versus theoretical knowledge, with emphasis on further opportunities in either the field itself as a professional, as an entrepreneur or in academia.
Online Graduate Programs in Accounting:
- Master of Science in Accounting
- Master of Accountancy
- MBA Accounting
- MBA in Professional Accounting
- MBA/Accounting and Finance
- Master of Science in Accounting - Public Accounting/ Taxation
Online Undergraduate Program in Accounting:
- Bachelor of Science in Business Administration – Accounting
- Bachelor of Science in Accounting
- Bachelor of Arts in Accounting
- Bachelors of Arts in Organizational Management / Managerial- Accounting
- Bachelors of Science in Accounting in Public-General Accountancy/ Tax Accountancy/ Auditing-Forensic Accountancy
- Bachelors of Science in Multidisciplinary Studies - Accounting
Online Associate programs in Accounting
Associate of Science in Accounting
Associate of Arts in Accounting
Associate of Applied Science in Accounting - Financial Accounting/ Financial Investigation/ Banking
Associate of Science in Business- Accounting
Resource Area:
DISCLAIMER: Above is a GENERAL OVERVIEW and may or may not reflect specific practices, courses and/or services associated with ANY ONE particular school(s) that is or is not advertised on SchoolsGalore.com.
Copyright 2007 - All rights reserved by Media Positive Communications, Inc.
Notice: Publishers are free to use this article on an ezine or website, provided the article is reprinted in its entirety, including copyright and disclaimer, and ALL links remain intact and active.
Why Take an Accounting Degree?
When weighing up the question ‘why take an accounting degree?’ most potential students will immediately be able to weigh up some of the benefits without thinking too hard about it: successful completions of accounting degrees, after all, lead to jobs as accountants one of the five most coveted of careers in the US.
Fashionable Choice?
Yes, accounting degrees may not perhaps be the most fashionable or ‘fun’-sounding of educational choices; they may not necessarily have the same modern, forward-leaning cachet of a graphic design degree, a marketing degree or an IT degree.
But some things in business are eternal – and the ability to keep tidy books is one of them. In an age of technological advancement tempered with global economic uncertainty, this consistent need for solid accounting skills is going to put anyone in good stead for the future.
What’s more, with the variety of finance degrees online that are now available, there’s no need for it to even cause the slightest disruption to your career, your family life or your lifestyle, generally. You can simply fit it in around all the other things you’ve got on at any given moment in whatever way suits you.
Small Business Needs?
It’s by no means merely accounting professionals working for big companies who are finding themselves in increasing need of some sort of accounting degree or course. The internet has spawned legions of small businesses – and then allowed them to flourish with access to hitherto inaccessible markets.
This rapid expansion has for seen many small business owners becoming quickly forced outside of their comfort zone; after all, just because someone is good at making artisans’ wares, say, it doesn’t mean that they’re good at keeping their books in order. And that’s when the question of why to take an accounting degree or course quickly turns into when to take an accounting degree or course...
Personal Qualifications
Beyond even running your own business, some sort of solid grounding in accountancy – whether it’s a short accounting course or a fulltime finance degree – can provide the basis for a healthy personal financial situation that, once acquired, will never leave you.
Whether you’re a freelancer of some description, a shrewd saver juggling their investments or someone with a significant portfolio of stocks and shares, one way of driving down annual expenditure is to take your accounting matters into your own hands.
So... Why take an accounting degree? Because good accounting is the bedrock of good business – whether you’re working for a company, setting up on your own, or simply trying to keep your personal money matters under control.
Fashionable Choice?
Yes, accounting degrees may not perhaps be the most fashionable or ‘fun’-sounding of educational choices; they may not necessarily have the same modern, forward-leaning cachet of a graphic design degree, a marketing degree or an IT degree.
But some things in business are eternal – and the ability to keep tidy books is one of them. In an age of technological advancement tempered with global economic uncertainty, this consistent need for solid accounting skills is going to put anyone in good stead for the future.
What’s more, with the variety of finance degrees online that are now available, there’s no need for it to even cause the slightest disruption to your career, your family life or your lifestyle, generally. You can simply fit it in around all the other things you’ve got on at any given moment in whatever way suits you.
Small Business Needs?
It’s by no means merely accounting professionals working for big companies who are finding themselves in increasing need of some sort of accounting degree or course. The internet has spawned legions of small businesses – and then allowed them to flourish with access to hitherto inaccessible markets.
This rapid expansion has for seen many small business owners becoming quickly forced outside of their comfort zone; after all, just because someone is good at making artisans’ wares, say, it doesn’t mean that they’re good at keeping their books in order. And that’s when the question of why to take an accounting degree or course quickly turns into when to take an accounting degree or course...
Personal Qualifications
Beyond even running your own business, some sort of solid grounding in accountancy – whether it’s a short accounting course or a fulltime finance degree – can provide the basis for a healthy personal financial situation that, once acquired, will never leave you.
Whether you’re a freelancer of some description, a shrewd saver juggling their investments or someone with a significant portfolio of stocks and shares, one way of driving down annual expenditure is to take your accounting matters into your own hands.
So... Why take an accounting degree? Because good accounting is the bedrock of good business – whether you’re working for a company, setting up on your own, or simply trying to keep your personal money matters under control.
Online Counseling Degrees
Online Counseling Degrees
An online counseling degree? My, how the times have changed. Not even two years ago, my reading of the literature about online educational programs was that there were questions about accreditation and value.
How could anyone learn anything online, particularly something which could be as complicated as counseling?
Well, accreditation of online courses and schools has happened, and the perceived value of an online counseling degree has increased.
Companies are doing lots of online training now, and seeing the value for their employees, and that has hastened the acceptance of online counseling degrees.
I already have my Master's degree, and I am not going to get a Ph.D. in my field, although I believe there are online counseling Ph.D. programs, so I will not be able to personally comment on the online process.
But one of the reasons I choose the school I attended was because it was close, and therefore convenient.
Online educational programs are even more convenient.
And they are convenient for your children to interrupt too, which happens when I am teaching my SBI class online. Even though I feed my kids before class, and let them know I will be busy, my five year old forgets, especially when she wants help with the Wii.
So online education can almost be too convenient.
However, as a graduate student, carrying a full load of classes, not having to worry about the expense of gas and an automobile, or breakdowns, or bad weather, would have been wonderful, plus I can review lectures and classes at my leisure, depending on the platform the school uses to do their broadcasting.
You can even get textbooks in electronic versions now, by the book or by the chapter. Text books are a big expense for students, and electronic versions are very helpful
The online counseling degree experience does diminish your face to face interaction with your peers, and with your professor, but I think the utility of the online process can make up for that.
True, I cannot hang out with my professor if his or her location is half way around the planet, but e-mail and online conferences can still help to build a very close and supportive professional relationship.
So my advice, give this online counseling degrees a try. You just may find yourself in a new career.
There are virtual schools to choose from, and I think every brick and mortar school is developing degree and certification programs in order to stay in business.
Can you imagine a day when State Legislatures no longer fund the bricks and mortar versions of colleges and universities?
An online counseling degree? My, how the times have changed. Not even two years ago, my reading of the literature about online educational programs was that there were questions about accreditation and value.
How could anyone learn anything online, particularly something which could be as complicated as counseling?
Well, accreditation of online courses and schools has happened, and the perceived value of an online counseling degree has increased.
Companies are doing lots of online training now, and seeing the value for their employees, and that has hastened the acceptance of online counseling degrees.
I already have my Master's degree, and I am not going to get a Ph.D. in my field, although I believe there are online counseling Ph.D. programs, so I will not be able to personally comment on the online process.
But one of the reasons I choose the school I attended was because it was close, and therefore convenient.
Online educational programs are even more convenient.
And they are convenient for your children to interrupt too, which happens when I am teaching my SBI class online. Even though I feed my kids before class, and let them know I will be busy, my five year old forgets, especially when she wants help with the Wii.
So online education can almost be too convenient.
However, as a graduate student, carrying a full load of classes, not having to worry about the expense of gas and an automobile, or breakdowns, or bad weather, would have been wonderful, plus I can review lectures and classes at my leisure, depending on the platform the school uses to do their broadcasting.
You can even get textbooks in electronic versions now, by the book or by the chapter. Text books are a big expense for students, and electronic versions are very helpful
The online counseling degree experience does diminish your face to face interaction with your peers, and with your professor, but I think the utility of the online process can make up for that.
True, I cannot hang out with my professor if his or her location is half way around the planet, but e-mail and online conferences can still help to build a very close and supportive professional relationship.
So my advice, give this online counseling degrees a try. You just may find yourself in a new career.
There are virtual schools to choose from, and I think every brick and mortar school is developing degree and certification programs in order to stay in business.
Can you imagine a day when State Legislatures no longer fund the bricks and mortar versions of colleges and universities?
Tuesday, June 1, 2010
Cashflow Manager or MYOB Software? - Which Accounting Software Program?
Cashflow Manager or MYOB Software? - Which Accounting Software Program?
Cashflow Manager and MYOB Software are two of the most popular Accounting Software Packages used in Australia. Cashflow Manager is a cash based software program, whereas MYOB can be used of Cash or Accrual Accounting.
Many business owners fall into the trap of using a spreadsheet to record their financial information. I do not recommend using a spreadsheet for the following reasons:
• There is no bank reconciliation process
• Expenses or Income can be easily missed
• Balance Sheet items are not normally recorded
There are different versions of Accounting Software and the prices vary accordingly, I have listed some of the different types of programs below:
• Cashbook - records income & expenses as they are received or paid
• Accrual - records income & expenses as they are invoiced, payments and receipts need to matched to a corresponding invoice.
• Single User - only one user can access the software at one time.
• Multi User - more than one user can access the software at the same time.
• Includes Payroll - necessary if you employ staff.
• Includes Stock Inventory - necessary if you want to keep track of stock that you buy & sell.
Once you think about your business processes you can easily decide on the software you need for your business. For example, if all your customers pay you in Cash at the time of purchase and you pay your suppliers Cash on Delivery you could use a CashBook system. However, if you need to issue invoices to your Customers and then allocate receipts to those invoices you would need an Accrual System. Or, if you run 30 day accounts with your suppliers you would need an Accrual System.
A Payroll module would not normally be necessary for a Micro or Solo Business Owner, as you are not employing staff. Payments that you pay to yourself, as the business owner, are not necessarily classed as Wages, they may be considered Drawings or Distributions depending on your business structure. You should discuss your Business Structure with your Accountant and decide on the most suitable set up for your Business. You do not need a Payroll Module in your Accounting Software to just pay yourself.
In regard to Stock and whether to run an Inventory System, you need to consider whether you will hold Stock on Hand or order the Stock items as required, and how many Stock transactions you are likely to have. A lot of Micro Businesses sell mainly their services and a small amount of Stock. For example my Bookkeeping Business sells mainly Bookkeeping Services and some Stock (Software). I do not need to run an Inventory System to manage my Stock Sales. I order the stock as required and do not hold Stock on Hand. Managing an Inventory System can be quite a large task and causes novice Bookkeepers quite a lot of headaches. I would advise against it, unless absolutely necessary.
You can still track your Income and Expenses for the Stock you sell without setting up a full inventory System. I would strongly advise you get advice from your Bookkeeper in regard to managing your Stock.
Cashflow Manager and MYOB Software are two of the most popular Accounting Software Packages used in Australia. Cashflow Manager is a cash based software program, whereas MYOB can be used of Cash or Accrual Accounting.
Many business owners fall into the trap of using a spreadsheet to record their financial information. I do not recommend using a spreadsheet for the following reasons:
• There is no bank reconciliation process
• Expenses or Income can be easily missed
• Balance Sheet items are not normally recorded
There are different versions of Accounting Software and the prices vary accordingly, I have listed some of the different types of programs below:
• Cashbook - records income & expenses as they are received or paid
• Accrual - records income & expenses as they are invoiced, payments and receipts need to matched to a corresponding invoice.
• Single User - only one user can access the software at one time.
• Multi User - more than one user can access the software at the same time.
• Includes Payroll - necessary if you employ staff.
• Includes Stock Inventory - necessary if you want to keep track of stock that you buy & sell.
Once you think about your business processes you can easily decide on the software you need for your business. For example, if all your customers pay you in Cash at the time of purchase and you pay your suppliers Cash on Delivery you could use a CashBook system. However, if you need to issue invoices to your Customers and then allocate receipts to those invoices you would need an Accrual System. Or, if you run 30 day accounts with your suppliers you would need an Accrual System.
A Payroll module would not normally be necessary for a Micro or Solo Business Owner, as you are not employing staff. Payments that you pay to yourself, as the business owner, are not necessarily classed as Wages, they may be considered Drawings or Distributions depending on your business structure. You should discuss your Business Structure with your Accountant and decide on the most suitable set up for your Business. You do not need a Payroll Module in your Accounting Software to just pay yourself.
In regard to Stock and whether to run an Inventory System, you need to consider whether you will hold Stock on Hand or order the Stock items as required, and how many Stock transactions you are likely to have. A lot of Micro Businesses sell mainly their services and a small amount of Stock. For example my Bookkeeping Business sells mainly Bookkeeping Services and some Stock (Software). I do not need to run an Inventory System to manage my Stock Sales. I order the stock as required and do not hold Stock on Hand. Managing an Inventory System can be quite a large task and causes novice Bookkeepers quite a lot of headaches. I would advise against it, unless absolutely necessary.
You can still track your Income and Expenses for the Stock you sell without setting up a full inventory System. I would strongly advise you get advice from your Bookkeeper in regard to managing your Stock.
Management Education: Managers Are Not Born
Management Education: Managers Are Not Born
Despite what you may have heard or thought, managers are not born. This notion of coming out of the womb equipped with a dazzling ability to lead is a false one. Instead, successful managers have learned a set of skills that help them to lead with confidence and authority. People who are committed to achieving success with other individuals in a work environment should understand that good management takes time and practice. If you are up to the challenge of leading a group of people, it is a good idea to enroll in a management education program. With management courses to show for on your resume, you are one step closer to convincing a potential employer of how you will change their organization for the better.
The first thing that a management education course will teach you is that the success of a leader is directly proportionate to his/her strength as a human being. A manager's principle goal is to get the best possible performance out of his/her employees and this can only be achieved by someone with a genuine interest in the well-being of the staff. An oversized ego can destroy even the best leader, but individuals who are committed to inspiring greatness will have long and prosperous careers.
A management course will highlight the fact that most leaders spend the majority of their time dealing with everyday details. And handling the small details with the same degree of effort and intensity as major issues can be challenging, but this is what distinguishes a good leader from a great leader. Experienced teachers will provide you with these insights and show you the necessary steps to becoming a great leader.
An educational institution that hires professors with a strong background in their field will benefit you most. Each professor of management education will have his/her own style, and regardless of any possible particular bias, it is useful to get different opinions on what type of person is most appealing to an employer. For example, a professor of management education may tell you that when searching for effective leaders, he/she looks for the following attributes
Despite what you may have heard or thought, managers are not born. This notion of coming out of the womb equipped with a dazzling ability to lead is a false one. Instead, successful managers have learned a set of skills that help them to lead with confidence and authority. People who are committed to achieving success with other individuals in a work environment should understand that good management takes time and practice. If you are up to the challenge of leading a group of people, it is a good idea to enroll in a management education program. With management courses to show for on your resume, you are one step closer to convincing a potential employer of how you will change their organization for the better.
The first thing that a management education course will teach you is that the success of a leader is directly proportionate to his/her strength as a human being. A manager's principle goal is to get the best possible performance out of his/her employees and this can only be achieved by someone with a genuine interest in the well-being of the staff. An oversized ego can destroy even the best leader, but individuals who are committed to inspiring greatness will have long and prosperous careers.
A management course will highlight the fact that most leaders spend the majority of their time dealing with everyday details. And handling the small details with the same degree of effort and intensity as major issues can be challenging, but this is what distinguishes a good leader from a great leader. Experienced teachers will provide you with these insights and show you the necessary steps to becoming a great leader.
An educational institution that hires professors with a strong background in their field will benefit you most. Each professor of management education will have his/her own style, and regardless of any possible particular bias, it is useful to get different opinions on what type of person is most appealing to an employer. For example, a professor of management education may tell you that when searching for effective leaders, he/she looks for the following attributes
How to Get The Best Accounting Software For Your Small Business
How to Get The Best Accounting Software For Your Small Business
This topic have been discussed in many areas like forums, blogs, different account related websites. So I thought to write a few lines about Numia with other online accounting softwares.
Buying accounting software is a major investment. It's an important decision and you need to be sure of all the facts before you buy.You certainly wouldn't want to get accounting software and then find a few months later that the software can't handle your growing business.And worst of all you don't want to get software with little or no support.
Software Prices
The cheapest software cost US $90 and the most expensive software cost US $1,500. But Numia absolutely a Freeware and mainly it has all the features as many paid services.
Software Features
As per our analyzing team each accounting software package has been thoroughly analyzed and there is a detailed breakdown showing the features of each. Most packages offer all the most important accounting modules. It was interesting to note that the most expensive software did not offer some of the modules offered by Numia.
Software Support
The most important feature in our opinion is the support. In Numia we give instant reply for your e-mails and also there are Video tutorials to guide you to use our product very easily.
Thus, Numia have all the features and also it can compete with other major accounting softwares in future.
This topic have been discussed in many areas like forums, blogs, different account related websites. So I thought to write a few lines about Numia with other online accounting softwares.
Buying accounting software is a major investment. It's an important decision and you need to be sure of all the facts before you buy.You certainly wouldn't want to get accounting software and then find a few months later that the software can't handle your growing business.And worst of all you don't want to get software with little or no support.
Software Prices
The cheapest software cost US $90 and the most expensive software cost US $1,500. But Numia absolutely a Freeware and mainly it has all the features as many paid services.
Software Features
As per our analyzing team each accounting software package has been thoroughly analyzed and there is a detailed breakdown showing the features of each. Most packages offer all the most important accounting modules. It was interesting to note that the most expensive software did not offer some of the modules offered by Numia.
Software Support
The most important feature in our opinion is the support. In Numia we give instant reply for your e-mails and also there are Video tutorials to guide you to use our product very easily.
Thus, Numia have all the features and also it can compete with other major accounting softwares in future.
Finance and Accounting Training
Finance and Accounting Training
he bottom line in business comes down to the numbers. Ultimately profits and peak performance keeps a business thriving.
Top management has to focus clearly and precisely on hard financial data to make critical business decisions. It is vital that managers understand how these decisions impact the financial well being of the organization.
If you are a non-financial manager that wants to expand your knowledge and understanding of accounting and finance, this is the seminar for you. You will gain the skills, confidence and competence to understand the numbers side of business. As a result, you will improve your working relationship with your company’s finance department.
Click on a course code below to learn more about a particular course.
http://www.butrain.com/Business-management-training-courses/finance-and-accounting-course.asp
he bottom line in business comes down to the numbers. Ultimately profits and peak performance keeps a business thriving.
Top management has to focus clearly and precisely on hard financial data to make critical business decisions. It is vital that managers understand how these decisions impact the financial well being of the organization.
If you are a non-financial manager that wants to expand your knowledge and understanding of accounting and finance, this is the seminar for you. You will gain the skills, confidence and competence to understand the numbers side of business. As a result, you will improve your working relationship with your company’s finance department.
Click on a course code below to learn more about a particular course.
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Career and Work Patterns
Career and Work Patterns
Faculty prepare for their teaching careers by earning (almost universally) graduate degrees.
Their “career” patterns can be characterized by examining their employment history. “Work”
patterns can be described by what individuals do in their present positions. This section reports
on degrees earned by community college faculty, their career histories, and work patterns and
activities.
Highest Degree Earned.14 In most two-year institutions faculty are expected to hold a master’s
degree or higher in the subject field in which they teach, and this is the case in accounting as
well. Data from NSOPF indicate that the large majority accounting faculty at two-year colleges
held the master’s as their highest degree (Table 14).
As of 2004, 11.2% held the doctorate or first professional degree, just over 70% a master’s
degree, and 18.3% a baccalaureate or less. The proportion holding a master’s degree or higher
increased, while the proportion holding less than a master’s degree decreased. (This compares
to 48.2% of accounting faculty at four-year institutions holding the doctorate or first professional
TABLE 12
Mean Basic Salary (in constant $) from Institution, Accounting Faculty
at Two-Year Institutions, 1993–2004
1993 (Inflated) 2004 Change
Part-time $7,176.32 $8,157.40 +13.6%
Full-time $49,353.78 $53,622.8 +8.6%
TABLE 13
Mean Total Individual Income (in constant $), Accounting Faculty
at Two-Year Institutions, 1993 (inflated)–2004
1993 (Inflated) 2004 Change
Part-time $65,371.61 $53,486.80 -18.2%
Full-time $62,011.74 $70,528.70 +13.7%
14 The NSOPF survey includes the J.D. (or L.L.B.) as a “first professional degree.” The M.B.A. is included among
master’s degrees.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
20 American Accounting Association
TABLE 14
Percent of Accounting Faculty in Two-Year Institutions Holding Indicated Highest Degree,
1993–2004
1993 2004
Ph.D. or first professional 9.60% 11.22%
Master’s 60.80% 70.47%
Baccalaureate or less 29.60% 18.31%
TABLE 15
Percentage of Accounting Faculty in Two-Year Institutions with Doctorate
or First Professional Degree by Full- or Part-Time Status
1993 2004
Part-time 8.3% 10.4%
Full-time 12.7% 12.8%
Total 9.7% 11.2%
degree.) Table 15 breaks down the highest degree held by part- and full-time faculty at two-year
institutions. Full-time faculty were slightly more likely to hold a doctorate or first professional
degree, and the higher degrees were slightly more prevalent for both full- and part-time faculty
in two-year institutions in 2004 than in 1993.
Perhaps more importantly, only half of the accounting faculty at two-year institutions report
holding their highest degree in accounting. (Faculty in two-year institutions may have more
incentives to earn advanced degrees in education than in their teaching field; 6.2% of full-time
accounting faculty at two-year institutions report their highest degree in education compared to
1.1% of full-time accounting faculty at four-year institutions.) For both survey years, almost
exactly half (Table 16) reported that their highest degree was in accounting. More (37% versus
32%) earned their highest degrees in another business field in 2004 than in 1993. (Although it is
not traceable, it would seem likely that this reflects an increase in numbers of those holding
MBAs teaching accounting). Commensurately fewer earned degrees in fields other than accounting
or business in 2004 than in 1993.
Table 16A shows that accounting faculty at two-year institutions were less likely to have
earned their highest degree in accounting than faculty at four-year institutions.
Careers. Data on career history are inconsistent between the two NSOPF survey years included
in this comparison, but some inferences are possible. On average, accounting faculty in twoyear
institutions hold their jobs for substantial periods of time. Table 17 shows that full-timers
have typically held their jobs for about 12 years, while part-timers have typically held theirs for
TABLE 16
Field of Highest Degree Earned, Accounting Faculty in Two-Year Institutions, 1993–2004
1993 2004
Accounting 51.3% 50.8%
Other business 31.6% 37.3%
All other fields 17.1% 11.9%
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 21
TABLE 16A
Field of Highest Degree Earned, Accounting Faculty
at Two-Year and Four-Year Institutions, 2004
Two-Year Four-Year
Accounting 50.8% 62.4%
Other business 37.3% 27.5%
All other fields 11.9% 10.1%
about 7 years. (These figures differ very little from those for accounting faculty at four-year
institutions.)
Continuity of Employment. Full-time faculty at two-year institutions show considerable longevity
(stability) in their positions, while part-timers are more likely to have assumed their positions
more recently. Almost 40% of all part-time two-year faculty reported two years or less of
experience in their current positions. (About 49% of part-time accounting faculty at four-year
institutions also report two years or less of experience, but they constitute a far lower proportion
of all faculty teaching accounting. About one-third of all accounting faculty at two-year institutions
may have little teaching experience.) Figure 6 shows the distribution of “years held current
job” for both groups as represented in the data from the 2004 NSOPF.
FIGURE 6
Years in Current Job; Full- and Part-Time Accounting Faculty in Two-Year Institutions, 2004
0
5
10
15
20
25
30
35
40
45
0 to 2
3 to 6
7 to 10
11 to 14
15 to 18
19 to 22
23 to 26
> 26
Years in current job.
Percent of faculty in interval.
Part‐time
Full‐time
TABLE 17
Mean Years in Current Job, Accounting Faculty in Two-Year Institutions, 1993–2004
1993 2004
Part-time 6.62 7.41
Full-time 13.16 12.75
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
22 American Accounting Association
The majority of part-time accounting faculty in two-year institutions have held previous jobs
in fields other than education. About 58% had worked outside education in 1993, and 76% had
done so in 2004. Fewer than half (34% in 1993 and 44% in 2004) of the full-time faculty had
worked outside education. So, as has often been contended, part-time faculty may bring a broader
and deeper range of practical or clinical experience (in place of advanced degrees) to the classroom.
A similar pattern was observed among accounting faculty at four-year institutions, with
part-timers far more likely to have worked outside education. The difference between backgrounds
of two-year and four-year faculty is important because two-year students are far more
likely to take their courses from part-timers, and may therefore have more exposure to the practical
and clinical aspects of the field (and commensurately less to the more theoretical, researchbased
aspects).
Tenure. Tenure or eligibility for tenure is far less common among two-year faculty than among
those at four-year institutions. Only 22% of accounting faculty at two-year institutions were
tenured or eligible in both 1993 and 2004. Part-timers are almost never eligible for tenure; only
1% reported being eligible (or tenured) in 1993, while 6% were in 2004. Only about half (52% in
2004, down from 65% in 1993) of the full time accounting faculty at two-year institutions were
tenured or eligible in the most recent survey. That compares to about 83% of full-time accounting
faculty at four-year institutions in both 1993 and 2004 surveys. Tables 18 and 19 report the
distribution of tenure among part-time and full-time accounting faculty (respectively) in twoyear
institutions.
Faculty prepare for their teaching careers by earning (almost universally) graduate degrees.
Their “career” patterns can be characterized by examining their employment history. “Work”
patterns can be described by what individuals do in their present positions. This section reports
on degrees earned by community college faculty, their career histories, and work patterns and
activities.
Highest Degree Earned.14 In most two-year institutions faculty are expected to hold a master’s
degree or higher in the subject field in which they teach, and this is the case in accounting as
well. Data from NSOPF indicate that the large majority accounting faculty at two-year colleges
held the master’s as their highest degree (Table 14).
As of 2004, 11.2% held the doctorate or first professional degree, just over 70% a master’s
degree, and 18.3% a baccalaureate or less. The proportion holding a master’s degree or higher
increased, while the proportion holding less than a master’s degree decreased. (This compares
to 48.2% of accounting faculty at four-year institutions holding the doctorate or first professional
TABLE 12
Mean Basic Salary (in constant $) from Institution, Accounting Faculty
at Two-Year Institutions, 1993–2004
1993 (Inflated) 2004 Change
Part-time $7,176.32 $8,157.40 +13.6%
Full-time $49,353.78 $53,622.8 +8.6%
TABLE 13
Mean Total Individual Income (in constant $), Accounting Faculty
at Two-Year Institutions, 1993 (inflated)–2004
1993 (Inflated) 2004 Change
Part-time $65,371.61 $53,486.80 -18.2%
Full-time $62,011.74 $70,528.70 +13.7%
14 The NSOPF survey includes the J.D. (or L.L.B.) as a “first professional degree.” The M.B.A. is included among
master’s degrees.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
20 American Accounting Association
TABLE 14
Percent of Accounting Faculty in Two-Year Institutions Holding Indicated Highest Degree,
1993–2004
1993 2004
Ph.D. or first professional 9.60% 11.22%
Master’s 60.80% 70.47%
Baccalaureate or less 29.60% 18.31%
TABLE 15
Percentage of Accounting Faculty in Two-Year Institutions with Doctorate
or First Professional Degree by Full- or Part-Time Status
1993 2004
Part-time 8.3% 10.4%
Full-time 12.7% 12.8%
Total 9.7% 11.2%
degree.) Table 15 breaks down the highest degree held by part- and full-time faculty at two-year
institutions. Full-time faculty were slightly more likely to hold a doctorate or first professional
degree, and the higher degrees were slightly more prevalent for both full- and part-time faculty
in two-year institutions in 2004 than in 1993.
Perhaps more importantly, only half of the accounting faculty at two-year institutions report
holding their highest degree in accounting. (Faculty in two-year institutions may have more
incentives to earn advanced degrees in education than in their teaching field; 6.2% of full-time
accounting faculty at two-year institutions report their highest degree in education compared to
1.1% of full-time accounting faculty at four-year institutions.) For both survey years, almost
exactly half (Table 16) reported that their highest degree was in accounting. More (37% versus
32%) earned their highest degrees in another business field in 2004 than in 1993. (Although it is
not traceable, it would seem likely that this reflects an increase in numbers of those holding
MBAs teaching accounting). Commensurately fewer earned degrees in fields other than accounting
or business in 2004 than in 1993.
Table 16A shows that accounting faculty at two-year institutions were less likely to have
earned their highest degree in accounting than faculty at four-year institutions.
Careers. Data on career history are inconsistent between the two NSOPF survey years included
in this comparison, but some inferences are possible. On average, accounting faculty in twoyear
institutions hold their jobs for substantial periods of time. Table 17 shows that full-timers
have typically held their jobs for about 12 years, while part-timers have typically held theirs for
TABLE 16
Field of Highest Degree Earned, Accounting Faculty in Two-Year Institutions, 1993–2004
1993 2004
Accounting 51.3% 50.8%
Other business 31.6% 37.3%
All other fields 17.1% 11.9%
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 21
TABLE 16A
Field of Highest Degree Earned, Accounting Faculty
at Two-Year and Four-Year Institutions, 2004
Two-Year Four-Year
Accounting 50.8% 62.4%
Other business 37.3% 27.5%
All other fields 11.9% 10.1%
about 7 years. (These figures differ very little from those for accounting faculty at four-year
institutions.)
Continuity of Employment. Full-time faculty at two-year institutions show considerable longevity
(stability) in their positions, while part-timers are more likely to have assumed their positions
more recently. Almost 40% of all part-time two-year faculty reported two years or less of
experience in their current positions. (About 49% of part-time accounting faculty at four-year
institutions also report two years or less of experience, but they constitute a far lower proportion
of all faculty teaching accounting. About one-third of all accounting faculty at two-year institutions
may have little teaching experience.) Figure 6 shows the distribution of “years held current
job” for both groups as represented in the data from the 2004 NSOPF.
FIGURE 6
Years in Current Job; Full- and Part-Time Accounting Faculty in Two-Year Institutions, 2004
0
5
10
15
20
25
30
35
40
45
0 to 2
3 to 6
7 to 10
11 to 14
15 to 18
19 to 22
23 to 26
> 26
Years in current job.
Percent of faculty in interval.
Part‐time
Full‐time
TABLE 17
Mean Years in Current Job, Accounting Faculty in Two-Year Institutions, 1993–2004
1993 2004
Part-time 6.62 7.41
Full-time 13.16 12.75
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
22 American Accounting Association
The majority of part-time accounting faculty in two-year institutions have held previous jobs
in fields other than education. About 58% had worked outside education in 1993, and 76% had
done so in 2004. Fewer than half (34% in 1993 and 44% in 2004) of the full-time faculty had
worked outside education. So, as has often been contended, part-time faculty may bring a broader
and deeper range of practical or clinical experience (in place of advanced degrees) to the classroom.
A similar pattern was observed among accounting faculty at four-year institutions, with
part-timers far more likely to have worked outside education. The difference between backgrounds
of two-year and four-year faculty is important because two-year students are far more
likely to take their courses from part-timers, and may therefore have more exposure to the practical
and clinical aspects of the field (and commensurately less to the more theoretical, researchbased
aspects).
Tenure. Tenure or eligibility for tenure is far less common among two-year faculty than among
those at four-year institutions. Only 22% of accounting faculty at two-year institutions were
tenured or eligible in both 1993 and 2004. Part-timers are almost never eligible for tenure; only
1% reported being eligible (or tenured) in 1993, while 6% were in 2004. Only about half (52% in
2004, down from 65% in 1993) of the full time accounting faculty at two-year institutions were
tenured or eligible in the most recent survey. That compares to about 83% of full-time accounting
faculty at four-year institutions in both 1993 and 2004 surveys. Tables 18 and 19 report the
distribution of tenure among part-time and full-time accounting faculty (respectively) in twoyear
institutions.
CARACTÉRISTIQUES OF ACCOUNTING FACULTY AT TWO-YEAR COLLEGES
II. CARACTÉRISTIQUES OF ACCOUNTING FACULTY
AT TWO-YEAR COLLEGES
Faculty who teach accounting at two-year institutions are mostly part-time, increasingly female,
Caucasian, married with children, hold master’s degrees or less, and are often teaching in
a field in which they have not earned their highest degree. They also tend to be otherwise employed
and have multiple sources of income.
Gender. In 1993, roughly 70% of community college accounting faculty were males (Table 6). By
2004, there were about 1400 fewer male accounting faculty, but about 500 more females. The
proportion of males had dropped to 58%.
Perhaps more interesting, the genders differed in their employment pattern; males were much
more likely to be part-time by 2004. In fact, there were only about half as many full-time male
accounting faculty in 2004 as in 1993. Women, on the other hand, were almost twice as likely to
be full-time in 2004 as in 1993 (Table 7).
Ethnicity. Accounting faculty in two-year institutions were overwhelmingly White, and remained
so between 1993 and 2004 (Table 8). There was an uptick in the percentage of those identifying
themselves as Black, and a decline in those identifying as Hispanic. Whites constituted about
85% of all accounting faculty at two-year institutions in 2004, Blacks constituted 10.6% (more
than double their proportion in 1993), Hispanics declined from 5.3% to 1.0%, and Asian/Pacific
TABLE 7
Part- and Full-Time Status of Community College Accounting Faculty
by Gender, 1993–2004
Percent Percent
Change in Change in
1993 2004 Part-Time 1993 2004 Full-Time
Part-Time Part-Time Faculty Full-Time Full-Time Faculty
Male 3551 2968 –16.4% 1749 932 –46.7%
Female 1594 1459 –8.5% 706 1341 +89.9%
TABLE 6
Gender of Community College Accounting Faculty, 1993–2004
1993 2004 Percent Change
Male 5300 3900 –26.4%
Female 2300 2800 +21.7%
Total 7600 6700 –11.8%
Percent male 69.7% 58.2%
TABLE 8
Race/Ethnicity of Accounting Faculty in Two-Year Institutions (percentages), 1993–2004
Asian/ American Indian/
White Black Hispanic Pacific Islander Alaska Native
1993 85.6% 4.3% 5.3% 3.3% 1.6%
2004 85.2% 10.6% 1.0% 3.2% 0%
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
16 American Accounting Association
Islanders constituted 3.2%. American Indian/Alaska Natives declined from 1.6% to 0. Accounting
faculty in two-year institutions are distributed roughly in proportion to their ethnic distribution
at four-year institutions.
Age. Figure 2 shows that the age distribution of accounting faculty at two-year institutions shifted
upward, consistent with indicators of aging found in earlier studies in this series.
The shift was particularly apparent among part-time faculty, with a sharp decline in faculty
between the ages of 40 and 50, and a tripling of those over the age of 55, as shown in Figure 3.
The age distribution of full-timers shifted upward, but mainly with respect to the mode
(Figure 4); overall, the mean age of part-timers was three years lower than that of full-timers in
1993, but a year higher in 2004 (Table 9).
The principal finding in this section is aging among male accounting faculty. Nearly 45%
were 55 or older in 2004, while only 16% were 44 or younger. Among females, 17% were 55 or
older, while 43% were 44 or younger. Figure 5 illustrates the disproportionately older distribution
of males and younger distribution of females. About 41% of males report planning to retire
“from all paid employment” within 10 years of the survey. An increasing number of women are
teaching accounting in two-year institutions, not just as part-timers, but increasingly in full-time
TABLE 9
Mean Age of Accounting Faculty in Two-Year Institutions, 1993–2004
Mean Age, 1993 Mean Age, 2004
Part-time 45.53 51.67
Full-time 48.95 50.82
0
500
1000
1500
2000
2500
0 to 30
31 to 35
36 to 40
41 to 45
46 to 50
51 to 55
56 to 60
> 60
Age in years.
Number of faculty in interval
Total, 1993
Total, 2004
FIGURE 2
Age Distribution of Accounting Faculty in Two-Year Institutions, 1993–2004
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 17
FIGURE 3
Age Distribution of Part-Time Community College Accounting Faculty, 1993–2004
0
200
400
600
800
1000
1200
1400
1600
0 to 30
31 to 35
36 to 40
41 to 45
46 to 50
51 to 55
56 to 60
> 60
Age in years.
Number of faculty in interval
Part‐time, 1993
Part‐time, 2004
FIGURE 4
Age Distribution of Full-Time Accounting Faculty at Two-Year Institutions, 1993–2004
0
100
200
300
400
500
600
700
0 to 30
31 to 35
36 to 40
41 to 45
46 to 50
51 to 55
56 to 60
> 60
Age in years
Number of faculty in interval
Full‐time, 1993
Full‐time, 2004
positions. There were 22% more women teaching accounting at two-year institutions in 2004
than in 1993, but about 16% fewer women teaching accounting at four-year institutions in 2004
than in 1993.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
18 American Accounting Association
Other Employment. Most part-time accounting faculty at two-year institutions have other employment,
as does an apparently declining proportion of full-time faculty. Table 10 shows, however,
that a substantial shift took place between 1993 and 2004. An increased proportion of both
part- and full-time faculty reported that their teaching job was their only job. Consistent with
this trend, many fewer part-timers reported holding other full-time jobs in 2004 than reported
doing so in 1993. Table 11 shows that although over 84% held other full-time jobs in 1993, fewer
than half did so in 2004.
Sources of Income. Accounting faculty at two-year institutions earn substantially less, on the
whole, than do accounting faculty at four-year institutions. In 2004, full-time accounting faculty
TABLE 10
Percentage of Accounting Faculty at Two-Year Institutions Reporting “Other Employment”
than their Teaching Job, 1993–2004
1993 2004
Part-time 88.60% 72.70%
Full-time 34.50% 21.10%
Total 71.10% 55.20%
TABLE 11
Full- or Part-Time Status of Other Jobs Held by Part-Time Accounting Faculty
in Two-Year Institutions, 1993–2004
1993 2004
Other job part-time 15.8% 52.2%
Other job full-time 84.2% 47.8%
FIGURE 5
Age Distribution of Accounting Faculty in Two-Year Institutions by Gender, 2004
0
5
10
15
20
25
30
0 to 30
31 to 34
35 to 39
40 to 44
45 to 49
50 to 54
55 to 59
> 60 Age in years
Percent of respondents in interval
Male
Female
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 19
at two-year institutions averaged $53,622.80 in basic salary from their employing institutions
(Table 12). Full-time accounting faculty at four-year institutions averaged $83,011.20 in the same
year. Part-time accounting faculty at two-year institutions averaged $8,157.40 in basic salary, while
part-timers at four-year institutions averaged $11,973.90. In rough terms then, two-year accounting
faculty make about two-thirds the basic salary made by four-year accounting faculty.
Part- and full time faculty look more alike in income when all sources are included in the
analysis. Table 13 shows that part-timers actually earned slightly more in total income than fulltimers
in 1993, but they had lost considerable ground (measured in constant dollars), both absolutely
(–18%) and relatively to full-timers by 2004. These trends are likely affected by the substantial
drop in percentage of part-time faculty holding other full-time jobs (Table 11), which, for
most, would presumably be their main source of income.
AT TWO-YEAR COLLEGES
Faculty who teach accounting at two-year institutions are mostly part-time, increasingly female,
Caucasian, married with children, hold master’s degrees or less, and are often teaching in
a field in which they have not earned their highest degree. They also tend to be otherwise employed
and have multiple sources of income.
Gender. In 1993, roughly 70% of community college accounting faculty were males (Table 6). By
2004, there were about 1400 fewer male accounting faculty, but about 500 more females. The
proportion of males had dropped to 58%.
Perhaps more interesting, the genders differed in their employment pattern; males were much
more likely to be part-time by 2004. In fact, there were only about half as many full-time male
accounting faculty in 2004 as in 1993. Women, on the other hand, were almost twice as likely to
be full-time in 2004 as in 1993 (Table 7).
Ethnicity. Accounting faculty in two-year institutions were overwhelmingly White, and remained
so between 1993 and 2004 (Table 8). There was an uptick in the percentage of those identifying
themselves as Black, and a decline in those identifying as Hispanic. Whites constituted about
85% of all accounting faculty at two-year institutions in 2004, Blacks constituted 10.6% (more
than double their proportion in 1993), Hispanics declined from 5.3% to 1.0%, and Asian/Pacific
TABLE 7
Part- and Full-Time Status of Community College Accounting Faculty
by Gender, 1993–2004
Percent Percent
Change in Change in
1993 2004 Part-Time 1993 2004 Full-Time
Part-Time Part-Time Faculty Full-Time Full-Time Faculty
Male 3551 2968 –16.4% 1749 932 –46.7%
Female 1594 1459 –8.5% 706 1341 +89.9%
TABLE 6
Gender of Community College Accounting Faculty, 1993–2004
1993 2004 Percent Change
Male 5300 3900 –26.4%
Female 2300 2800 +21.7%
Total 7600 6700 –11.8%
Percent male 69.7% 58.2%
TABLE 8
Race/Ethnicity of Accounting Faculty in Two-Year Institutions (percentages), 1993–2004
Asian/ American Indian/
White Black Hispanic Pacific Islander Alaska Native
1993 85.6% 4.3% 5.3% 3.3% 1.6%
2004 85.2% 10.6% 1.0% 3.2% 0%
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
16 American Accounting Association
Islanders constituted 3.2%. American Indian/Alaska Natives declined from 1.6% to 0. Accounting
faculty in two-year institutions are distributed roughly in proportion to their ethnic distribution
at four-year institutions.
Age. Figure 2 shows that the age distribution of accounting faculty at two-year institutions shifted
upward, consistent with indicators of aging found in earlier studies in this series.
The shift was particularly apparent among part-time faculty, with a sharp decline in faculty
between the ages of 40 and 50, and a tripling of those over the age of 55, as shown in Figure 3.
The age distribution of full-timers shifted upward, but mainly with respect to the mode
(Figure 4); overall, the mean age of part-timers was three years lower than that of full-timers in
1993, but a year higher in 2004 (Table 9).
The principal finding in this section is aging among male accounting faculty. Nearly 45%
were 55 or older in 2004, while only 16% were 44 or younger. Among females, 17% were 55 or
older, while 43% were 44 or younger. Figure 5 illustrates the disproportionately older distribution
of males and younger distribution of females. About 41% of males report planning to retire
“from all paid employment” within 10 years of the survey. An increasing number of women are
teaching accounting in two-year institutions, not just as part-timers, but increasingly in full-time
TABLE 9
Mean Age of Accounting Faculty in Two-Year Institutions, 1993–2004
Mean Age, 1993 Mean Age, 2004
Part-time 45.53 51.67
Full-time 48.95 50.82
0
500
1000
1500
2000
2500
0 to 30
31 to 35
36 to 40
41 to 45
46 to 50
51 to 55
56 to 60
> 60
Age in years.
Number of faculty in interval
Total, 1993
Total, 2004
FIGURE 2
Age Distribution of Accounting Faculty in Two-Year Institutions, 1993–2004
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 17
FIGURE 3
Age Distribution of Part-Time Community College Accounting Faculty, 1993–2004
0
200
400
600
800
1000
1200
1400
1600
0 to 30
31 to 35
36 to 40
41 to 45
46 to 50
51 to 55
56 to 60
> 60
Age in years.
Number of faculty in interval
Part‐time, 1993
Part‐time, 2004
FIGURE 4
Age Distribution of Full-Time Accounting Faculty at Two-Year Institutions, 1993–2004
0
100
200
300
400
500
600
700
0 to 30
31 to 35
36 to 40
41 to 45
46 to 50
51 to 55
56 to 60
> 60
Age in years
Number of faculty in interval
Full‐time, 1993
Full‐time, 2004
positions. There were 22% more women teaching accounting at two-year institutions in 2004
than in 1993, but about 16% fewer women teaching accounting at four-year institutions in 2004
than in 1993.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
18 American Accounting Association
Other Employment. Most part-time accounting faculty at two-year institutions have other employment,
as does an apparently declining proportion of full-time faculty. Table 10 shows, however,
that a substantial shift took place between 1993 and 2004. An increased proportion of both
part- and full-time faculty reported that their teaching job was their only job. Consistent with
this trend, many fewer part-timers reported holding other full-time jobs in 2004 than reported
doing so in 1993. Table 11 shows that although over 84% held other full-time jobs in 1993, fewer
than half did so in 2004.
Sources of Income. Accounting faculty at two-year institutions earn substantially less, on the
whole, than do accounting faculty at four-year institutions. In 2004, full-time accounting faculty
TABLE 10
Percentage of Accounting Faculty at Two-Year Institutions Reporting “Other Employment”
than their Teaching Job, 1993–2004
1993 2004
Part-time 88.60% 72.70%
Full-time 34.50% 21.10%
Total 71.10% 55.20%
TABLE 11
Full- or Part-Time Status of Other Jobs Held by Part-Time Accounting Faculty
in Two-Year Institutions, 1993–2004
1993 2004
Other job part-time 15.8% 52.2%
Other job full-time 84.2% 47.8%
FIGURE 5
Age Distribution of Accounting Faculty in Two-Year Institutions by Gender, 2004
0
5
10
15
20
25
30
0 to 30
31 to 34
35 to 39
40 to 44
45 to 49
50 to 54
55 to 59
> 60 Age in years
Percent of respondents in interval
Male
Female
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 19
at two-year institutions averaged $53,622.80 in basic salary from their employing institutions
(Table 12). Full-time accounting faculty at four-year institutions averaged $83,011.20 in the same
year. Part-time accounting faculty at two-year institutions averaged $8,157.40 in basic salary, while
part-timers at four-year institutions averaged $11,973.90. In rough terms then, two-year accounting
faculty make about two-thirds the basic salary made by four-year accounting faculty.
Part- and full time faculty look more alike in income when all sources are included in the
analysis. Table 13 shows that part-timers actually earned slightly more in total income than fulltimers
in 1993, but they had lost considerable ground (measured in constant dollars), both absolutely
(–18%) and relatively to full-timers by 2004. These trends are likely affected by the substantial
drop in percentage of part-time faculty holding other full-time jobs (Table 11), which, for
most, would presumably be their main source of income.
ACCOUNTING IN COMMUNITY COLLEGES: WHO TEACHES, WHO STUDIES?
ACCOUNTING IN COMMUNITY COLLEGES:
WHO TEACHES, WHO STUDIES?
A REPORT OF THE AMERICAN ACCOUNTING ASSOCIATION
• MARCH 29, 2010 •
ACCOUNTING IN COMMUNITY COLLEGES:
WHO TEACHES, WHO STUDIES?
A REPORT OF THE AMERICAN ACCOUNTING ASSOCIATION
REPORT PREPARED BY:
David W. Leslie, Chancellor Professor of Education,
The College of William & Mary
RESEARCH PROJECT COORDINATOR:
Bruce K. Behn, The University of Tennessee
2009–2010 EXECUTIVE COMMITTEE MEMBERS
OF THE AMERICAN ACCOUNTING ASSOCIATION:
Nancy A. Bagranoff, Old Dominion University
Kevin D. Stocks, Brigham Young University
Susan F. Haka, Michigan State University
Ira Solomon, University of Illinois at Urbana–Champaign
Belverd E. Needles, DePaul University
Christopher J. Wolfe, Texas A&M University
Kazuo Hiramatsu, Kwansei Gakuin University
Robert H. Colson, Grant Thornton LLP
Jean C. Bedard, Bentley University
Gregory B. Waymire, Emory University
Bruce K. Behn, The University of Tennessee
Stacy E. Kovar, Kansas State University
MARCH 29, 2010
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 3
FOREWORD
Recently the American Accounting Association (AAA) sponsored a report, Trends in Non-
Tenure-Eligible Accounting Faculty, 1993–2004 (December 2008) and co-sponsored a report, Accounting
Faculty in U.S. Colleges and Universities: Status and Trends, 1993–2004 (February, 2008)
with the American Institute of Certified Public Accountants (AICPA). Designed as a companion
piece to these recent studies, this report is intended to expand our understanding of the “supply
chain” in accounting education. A number of articles and papers discuss tenure-track and nontenure
track accounting faculty and accounting doctoral students, but limited information is
available on the role of community college faculty in the United States. This analysis looks at
status and trends for community college faculty in accounting, and like its companion reports
on tenure-track and non-tenure eligible faculty, does so within the context of the larger higher
education environment in the U.S. today.
Given their growing prominence in educating future accounting students it is important to
better understand these members of our academic community. The U.S. Department of
Education’s statistics center listed 1,528 two-year colleges in its 2007 survey of institutions of
higher education.1 The Department of Education reported that 6,617,930 (or 36.2%, more than
one third) of all college students were enrolled in community colleges in 2007–08. About 47%,
nearly half, of all students in public colleges and universities were enrolled in two-year colleges
before attending a four-year institution.
In 2008 the recommendations of the U.S. Department of the Treasury’s Advisory Committee
on the Auditing Profession urged the academy to: “Ensure a sufficiently robust supply of qualified
accounting faculty to meet demand for the future and help prepare new entrants to the
profession to perform high quality audits,” and “Develop and maintain consistent demographic
and higher education program profile data.” Given growing numbers of community colleges
and students enrolled in community colleges, it is critical that we understand trends for community
college accounting faculty and their essential role in educating many accounting students.
With those interests in mind, we again asked David W. Leslie, Chancellor Professor Emeritus
of Education, The College of William & Mary, to conduct our study. David has a distinguished
career in demographic analysis extending across all levels of education. His recent
report, The Reshaping of America’s Academic Workforce, for TIAA-CREF where he is an Institute
Fellow, has been frequently quoted in the mainstream press. In the Fall of 2007, Leslie presented
findings from the AAA/AICPA sponsored project Accounting Faculty in U.S. Colleges and Universities:
Status and Trends, 1993–2004, during testimony to the Advisory Committee on the Audit
Profession to the U.S. Treasury Department in Washington, D.C. The Advisory Committee,
chaired by former Securities and Exchange Commission (SEC) Chairman Arthur Levitt and former
SEC Chief Accountant Don Nicholiason, was chartered to consider and develop recommendations
relating to the sustainability of the auditing profession including implications for education
and preparation of new practitioners.
It is the continual pursuit of the AAA to add value to the accounting community by gathering
data and perspectives from outside the accounting environment, providing a context in which to
1 Data extracted from the Integrated Postsecondary Education Data System (IPEDS) Data Analysis System, http://
nces.ed.gov/ipeds/datacenter/
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
4 American Accounting Association
better understand the state of accounting education, allowing us to better forecast challenges
and opportunities for the future. The American Accounting Association thanks David Leslie for
the continued energy and creativity he brings to understanding accounting education. David
would like to thank Susan Crosson, and AAA Executive Committee members Kevin Stocks,
Nancy Bagranoff, and Bruce Behn for their review and comments during completion of this
report.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 5
TABLE OF CONTENTS
Executive Summary ............................................................................................................................. 7
Introduction .......................................................................................................................................... 9
Institutional Context ............................................................................................................................. 11
Characteristics of Accounting Faculty at Two-Year Colleges ........................................................ 15
Characteristics of Accounting Students at Two-Year Colleges ..................................................... 31
Summary and Conclusions ................................................................................................................. 39
Appendix A .......................................................................................................................................... 41
References ............................................................................................................................................. 43
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 7
EXECUTIVE SUMMARY
This report describes the members of the faculty work force who teach accounting at community
colleges and the students who say they are concentrating in accounting at these institutions.
It is presented in three parts. The first, “Institutional Context,” presents general data on two-year
institutions. The second, “Characteristics of Accounting Faculty at Two-Year Colleges,” relies
on National Study of Postsecondary Faculty (NSOPF) data to cover the demographic characteristics,
career trajectories, and work patterns among those who teach in the nation’s community
colleges. The third, “Characteristics of Accounting Students at Two-Year Colleges,” describes
those who self-report that their field of study/major is in accounting using data from the National
Postsecondary Student Aid Study (NPSAS).
Overall, faculty and students at two-year institutions differ in many ways from those at fouryear
institutions. A large majority of both faculty and students at two-year institutions are parttime.
Both faculty and students are also far more likely to be employed elsewhere. Faculty are
less likely to have terminal degrees or their highest degree in accounting than are those at fouryear
institutions. Students are substantially more likely to be female, are more career-oriented
(than transfer-oriented), and appear to be less prepared for college-level courses.
Roughly 38% of all accounting faculty in the U.S. teach at community colleges, and about
two-thirds of accounting faculty at two-year institutions teach part-time. It is estimated that the
number of accounting faculty at two-year institutions has declined on the order of 11% between
1993 and 2004, while the number of accounting students at these institutions increased almost
8% (from 189,400 to 203,900) between 1990 and 2008.
Faculty teaching accounting at two-year institutions are increasingly female, mostly Caucasian,
hold master’s degrees or less, and are often teaching in a field in which they have not
earned their highest degree. They tend to be otherwise employed and have multiple sources of
income. About 90% report being either satisfied or very satisfied with their jobs.
Two-year institutions educate a far more diverse student population than do traditional fouryear
institutions, diverse in characteristics, preparation, life experience, motives, and educational/
occupational/career trajectories. Roughly 40% of all students who report concentrating
in accounting enroll at two-year institutions and about 19% of accounting majors at four-year
institutions had earned at least some transfer credits (not necessarily in accounting) from an
associate-degree-granting institution in 2008.
Almost 60% of these students indicate that their primary motive is to gain occupational skills,
while only 40% indicate plans to transfer to a four-year institution. About 70% are female, and
over three-quarters are White. Over half, 52% were older than 27 in 2008, consistent with the
range in age of all students at two-year institutions. Three quarters work full- or part-time while
in school, and enter with more academic “risk factors” than do students at four-year institutions.
Principal characteristics that differentiate two-year accounting faculty and students from those
at four-year institutions are the proportion engaged in either teaching or learning on a part-time
basis, and the proportions who are either partially or fully employed elsewhere. Most two-year
faculty do not have terminal degrees (just over 11%, and about 70.5% held a master’s degree in
2004), nor their highest degree in accounting, and teach an older and substantially at-risk student
population with multiple reasons for investing in higher education.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
8 American Accounting Association
These differences highlight the need to understand more fully how teaching and learning of
accounting varies among types of institutions, and in particular, how those who ultimately transfer
from two-year programs to upper division classes at four-year institutions are prepared. What
these students learn and how they learn it may ultimately affect both the practice and broader
understanding of the field’s concepts and principles in business, government, and the profession
itself.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 9
INTRODUCTION
This report describes the members of the faculty work force who teach accounting at community
colleges (using data from 1993 and 2004 federal surveys of faculty1) and the students who
report they are concentrating in accounting at these institutions (using data from surveys conducted
in 1990, 1996, 2000, and 20082). This report is third in a three-part series by the American
Accounting Association focusing on understanding trends for the accounting faculty workforce.3
Relying on survey data available online from the National Postsecondary Student Aid Study
(NPSAS) and the National Study of Postsecondary Faculty (NSOPF) administered by the National
Center for Education Statistics, this report is similar in method and scope to two previous
studies of full-time tenure-track, and non-tenure-track faculty in accounting.
The U. S. Education Department’s statistics center listed 1,528 two-year colleges in its 2007
survey of institutions of higher education.4 The Education Department reported that 6,617,930
(or 36.2%, more than 1/3) of all college students were enrolled in community colleges in 2007–
08. About 47%, nearly half, of all students in public colleges and universities were enrolled in
two-year colleges before attending a four-year institution. And about 49% of all undergraduates
were enrolled in a two-year institution at some point. There are reasons to expect that these
1 National Survey of Postsecondary Faculty, http://nces.ed.gov/surveys/nsopf/. “NSOPF was conducted in
response to a continuing need for data on faculty and instructors—persons who directly affect the quality of
education in postsecondary institutions. Faculty are the pivotal resource around which the process and outcomes
of postsecondary education revolve. They often determine curriculum content, student performance standards,
and the quality of students’ preparation for careers. Faculty members perform research and development work
upon which this nation’s technological and economic advancement depends. Through their public service
activities, they make valuable contributions to society. For these reasons, it is essential to understand who they
are; what they do; and whether, how, and why they are changing. This study was designed to provide data about
faculty to postsecondary education researchers, planners, and policymakers. NSOPF is the most comprehensive
study of faculty in postsecondary educational institutions ever undertaken.” NSOPF was conducted in four
cycles: 1987–88, 1992–93, 1998–99, and 2003-’04. Because survey items are not always consistent from cycle to
cycle, and because a reasonably long period was desirable to establish trends, this report relies on the 1993 and
2004 survey data. The two previous reports on accounting faculty relied on these surveys, as well, so results can
be compared. No further faculty surveys are planned, according to NCES staff, so the 2004 data are the most
current available.
2 “The purpose of NPSAS (National Postsecondary Student Aid Study) is to compile a comprehensive research
dataset, based on student-level records, on financial aid provided by the federal government, the states,
postsecondary institutions, employers, and private agencies, along with student demographic and enrollment
data. NPSAS is the primary source of information used by the federal government (and others, such as researchers
and higher education associations) to analyze student financial aid and to inform public policy on such programs
as the Pell grants and Stafford loans.” http://nces.ed.gov/surveys/npsas/about.asp. “The first NPSAS study
was conducted during the 1986–87 school year; subsequent studies have been carried out during the 1989–90,
1992–93, 1995–96, 1999-2000, 2003-04, and 2007–08 school years.” http://nces.ed.gov/surveys/npsas/ (It is
only possible to break out accounting majors in the 1989-90, 1992–93, 1995–96, 1999–2000, and 2007–08 data.
Appendix A presents anomalies in the 1992-93 NPSAS data—a large departure from standard Education Department
data on enrollment—to justify omitting those data from tables in this report, a conclusion in which National
Center for Education Statistics (NCES) staff concur.)
3 See Accounting Faculty in U. S. Colleges and Universities: Status and Trends, 1993–2004. Sarasota: American Accounting
Association (and American Institute of Certified Public Accountants), 2008. http://aaahq.org/temp/phd/
AccountingFacultyUSCollegesUniv.pdf. Also, Trends in Non-Tenure-Eligible Accounting Faculty, 1993–2004,
Sarasota: American Accounting Association, 2009. http://aaahq.org/temp/phd/LeslieReport2.pdf.
4 Data extracted from the Integrated Postsecondary Education Data System (IPEDS) Data Analysis System, http://
nces.ed.gov/ipeds/datacenter/.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
10 American Accounting Association
trends will continue or increase. With economic challenges facing many families and individuals
in the current environment, tuition and fees at four-year institutions have risen beyond the
reach of more prospective students, leading them to apply to community colleges in increasing
numbers. Similarly, as unemployment rises, more workers will undoubtedly opt to retrain by
returning to college and community colleges are expected to absorb a large proportion of these
students.5 In addition, expanded GI Bill benefits may encourage large numbers of veterans to
attend community college.6
Overall this study finds that faculty who teach and students who study at two-year institutions
differ in many ways from those at more traditional four-year institutions. The major difference
is that a large majority of both faculty and students at two-year institutions are part-time.
Both faculty and students are also far more likely to be employed elsewhere. Faculty are less
likely to have terminal degrees (11.2%, and 70.5% have a master’s in 2004) or their highest degree
in accounting than are those at four-year institutions. Students are substantially more likely to
be female, are more career-oriented (than transfer-oriented), and appear to be less prepared for
college-level courses.
Part-time faculty at two-year institutions (two-thirds of the total) spend more time on their
other jobs (about three-quarters of their working hours) than on teaching and research. Students
who transfer from two-year to four-year institutions may find that faculty at their new institutions
have a different, perhaps more intensively disciplinary, orientation to the field. Students’
own work experience may help them understand basic ideas and practices in introductory courses,
but their experience may not be as relevant in upper-level courses. Adapting to a different set of
expectations following transfer may involve some “transfer shock.”7 By understanding the variety
of motives with which students enroll in two-year institutions, as well as their more varied
backgrounds, faculty at both two-year and four-year institutions may be better prepared to adopt
varied and nuanced approaches to teaching and learning that take this variability into account.
This report describes the characteristics of both faculty and students and discusses some of the
implications for the field. It is presented in three parts. The first, “Institutional Context,” presents
general data on two-year institutions. The second, “Characteristics of Accounting Faculty at Two-
Year Colleges,” relies on NSOPF data to cover the demographic characteristics, career trajectories,
and work patterns among those who teach in the nation’s community colleges. The third, “Characteristics
of Accounting Students at Two-Year Institutions,” describes those who have enrolled at
these institutions who self-report that their field of study/major8 is in accounting.
5 Both the New York Times and Washington Post have recently run stories highlighting enrollment pressures at
community colleges. See http://www.nytimes.com/2009/10/28/education/
.28community.html?_r=1&scp=2&sq=community%20college&st=cse. And see:
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/30/AR2009053001762.html?hpid=topnews.
6 See Chen, G. How Will the New GI Bill Impact Your Community College Enrollment Options? Community College
Review. July 9, 2009. http://www.communitycollegereview.com/articles/130.
7 See Ishitani. T. T. How Do Transfers Survive after ‘‘Transfer Shock’’? A Longitudinal Study of Transfer Student
Departure at a Four-Year Institution. Research in Higher Education. 49: 403–419, 2008.
8 “Field of study or major” is the terminology used in the NPSAS survey. Students at two-year institutions may not
settle on a major until after transfer to a four-year institution. Accordingly, the estimates in this report may not
“capture” all students who enter two-year institutions but ultimately receive baccalaureate or higher degrees in
Accounting.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 11
WHO TEACHES, WHO STUDIES?
A REPORT OF THE AMERICAN ACCOUNTING ASSOCIATION
• MARCH 29, 2010 •
ACCOUNTING IN COMMUNITY COLLEGES:
WHO TEACHES, WHO STUDIES?
A REPORT OF THE AMERICAN ACCOUNTING ASSOCIATION
REPORT PREPARED BY:
David W. Leslie, Chancellor Professor of Education,
The College of William & Mary
RESEARCH PROJECT COORDINATOR:
Bruce K. Behn, The University of Tennessee
2009–2010 EXECUTIVE COMMITTEE MEMBERS
OF THE AMERICAN ACCOUNTING ASSOCIATION:
Nancy A. Bagranoff, Old Dominion University
Kevin D. Stocks, Brigham Young University
Susan F. Haka, Michigan State University
Ira Solomon, University of Illinois at Urbana–Champaign
Belverd E. Needles, DePaul University
Christopher J. Wolfe, Texas A&M University
Kazuo Hiramatsu, Kwansei Gakuin University
Robert H. Colson, Grant Thornton LLP
Jean C. Bedard, Bentley University
Gregory B. Waymire, Emory University
Bruce K. Behn, The University of Tennessee
Stacy E. Kovar, Kansas State University
MARCH 29, 2010
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 3
FOREWORD
Recently the American Accounting Association (AAA) sponsored a report, Trends in Non-
Tenure-Eligible Accounting Faculty, 1993–2004 (December 2008) and co-sponsored a report, Accounting
Faculty in U.S. Colleges and Universities: Status and Trends, 1993–2004 (February, 2008)
with the American Institute of Certified Public Accountants (AICPA). Designed as a companion
piece to these recent studies, this report is intended to expand our understanding of the “supply
chain” in accounting education. A number of articles and papers discuss tenure-track and nontenure
track accounting faculty and accounting doctoral students, but limited information is
available on the role of community college faculty in the United States. This analysis looks at
status and trends for community college faculty in accounting, and like its companion reports
on tenure-track and non-tenure eligible faculty, does so within the context of the larger higher
education environment in the U.S. today.
Given their growing prominence in educating future accounting students it is important to
better understand these members of our academic community. The U.S. Department of
Education’s statistics center listed 1,528 two-year colleges in its 2007 survey of institutions of
higher education.1 The Department of Education reported that 6,617,930 (or 36.2%, more than
one third) of all college students were enrolled in community colleges in 2007–08. About 47%,
nearly half, of all students in public colleges and universities were enrolled in two-year colleges
before attending a four-year institution.
In 2008 the recommendations of the U.S. Department of the Treasury’s Advisory Committee
on the Auditing Profession urged the academy to: “Ensure a sufficiently robust supply of qualified
accounting faculty to meet demand for the future and help prepare new entrants to the
profession to perform high quality audits,” and “Develop and maintain consistent demographic
and higher education program profile data.” Given growing numbers of community colleges
and students enrolled in community colleges, it is critical that we understand trends for community
college accounting faculty and their essential role in educating many accounting students.
With those interests in mind, we again asked David W. Leslie, Chancellor Professor Emeritus
of Education, The College of William & Mary, to conduct our study. David has a distinguished
career in demographic analysis extending across all levels of education. His recent
report, The Reshaping of America’s Academic Workforce, for TIAA-CREF where he is an Institute
Fellow, has been frequently quoted in the mainstream press. In the Fall of 2007, Leslie presented
findings from the AAA/AICPA sponsored project Accounting Faculty in U.S. Colleges and Universities:
Status and Trends, 1993–2004, during testimony to the Advisory Committee on the Audit
Profession to the U.S. Treasury Department in Washington, D.C. The Advisory Committee,
chaired by former Securities and Exchange Commission (SEC) Chairman Arthur Levitt and former
SEC Chief Accountant Don Nicholiason, was chartered to consider and develop recommendations
relating to the sustainability of the auditing profession including implications for education
and preparation of new practitioners.
It is the continual pursuit of the AAA to add value to the accounting community by gathering
data and perspectives from outside the accounting environment, providing a context in which to
1 Data extracted from the Integrated Postsecondary Education Data System (IPEDS) Data Analysis System, http://
nces.ed.gov/ipeds/datacenter/
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
4 American Accounting Association
better understand the state of accounting education, allowing us to better forecast challenges
and opportunities for the future. The American Accounting Association thanks David Leslie for
the continued energy and creativity he brings to understanding accounting education. David
would like to thank Susan Crosson, and AAA Executive Committee members Kevin Stocks,
Nancy Bagranoff, and Bruce Behn for their review and comments during completion of this
report.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 5
TABLE OF CONTENTS
Executive Summary ............................................................................................................................. 7
Introduction .......................................................................................................................................... 9
Institutional Context ............................................................................................................................. 11
Characteristics of Accounting Faculty at Two-Year Colleges ........................................................ 15
Characteristics of Accounting Students at Two-Year Colleges ..................................................... 31
Summary and Conclusions ................................................................................................................. 39
Appendix A .......................................................................................................................................... 41
References ............................................................................................................................................. 43
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 7
EXECUTIVE SUMMARY
This report describes the members of the faculty work force who teach accounting at community
colleges and the students who say they are concentrating in accounting at these institutions.
It is presented in three parts. The first, “Institutional Context,” presents general data on two-year
institutions. The second, “Characteristics of Accounting Faculty at Two-Year Colleges,” relies
on National Study of Postsecondary Faculty (NSOPF) data to cover the demographic characteristics,
career trajectories, and work patterns among those who teach in the nation’s community
colleges. The third, “Characteristics of Accounting Students at Two-Year Colleges,” describes
those who self-report that their field of study/major is in accounting using data from the National
Postsecondary Student Aid Study (NPSAS).
Overall, faculty and students at two-year institutions differ in many ways from those at fouryear
institutions. A large majority of both faculty and students at two-year institutions are parttime.
Both faculty and students are also far more likely to be employed elsewhere. Faculty are
less likely to have terminal degrees or their highest degree in accounting than are those at fouryear
institutions. Students are substantially more likely to be female, are more career-oriented
(than transfer-oriented), and appear to be less prepared for college-level courses.
Roughly 38% of all accounting faculty in the U.S. teach at community colleges, and about
two-thirds of accounting faculty at two-year institutions teach part-time. It is estimated that the
number of accounting faculty at two-year institutions has declined on the order of 11% between
1993 and 2004, while the number of accounting students at these institutions increased almost
8% (from 189,400 to 203,900) between 1990 and 2008.
Faculty teaching accounting at two-year institutions are increasingly female, mostly Caucasian,
hold master’s degrees or less, and are often teaching in a field in which they have not
earned their highest degree. They tend to be otherwise employed and have multiple sources of
income. About 90% report being either satisfied or very satisfied with their jobs.
Two-year institutions educate a far more diverse student population than do traditional fouryear
institutions, diverse in characteristics, preparation, life experience, motives, and educational/
occupational/career trajectories. Roughly 40% of all students who report concentrating
in accounting enroll at two-year institutions and about 19% of accounting majors at four-year
institutions had earned at least some transfer credits (not necessarily in accounting) from an
associate-degree-granting institution in 2008.
Almost 60% of these students indicate that their primary motive is to gain occupational skills,
while only 40% indicate plans to transfer to a four-year institution. About 70% are female, and
over three-quarters are White. Over half, 52% were older than 27 in 2008, consistent with the
range in age of all students at two-year institutions. Three quarters work full- or part-time while
in school, and enter with more academic “risk factors” than do students at four-year institutions.
Principal characteristics that differentiate two-year accounting faculty and students from those
at four-year institutions are the proportion engaged in either teaching or learning on a part-time
basis, and the proportions who are either partially or fully employed elsewhere. Most two-year
faculty do not have terminal degrees (just over 11%, and about 70.5% held a master’s degree in
2004), nor their highest degree in accounting, and teach an older and substantially at-risk student
population with multiple reasons for investing in higher education.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
8 American Accounting Association
These differences highlight the need to understand more fully how teaching and learning of
accounting varies among types of institutions, and in particular, how those who ultimately transfer
from two-year programs to upper division classes at four-year institutions are prepared. What
these students learn and how they learn it may ultimately affect both the practice and broader
understanding of the field’s concepts and principles in business, government, and the profession
itself.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 9
INTRODUCTION
This report describes the members of the faculty work force who teach accounting at community
colleges (using data from 1993 and 2004 federal surveys of faculty1) and the students who
report they are concentrating in accounting at these institutions (using data from surveys conducted
in 1990, 1996, 2000, and 20082). This report is third in a three-part series by the American
Accounting Association focusing on understanding trends for the accounting faculty workforce.3
Relying on survey data available online from the National Postsecondary Student Aid Study
(NPSAS) and the National Study of Postsecondary Faculty (NSOPF) administered by the National
Center for Education Statistics, this report is similar in method and scope to two previous
studies of full-time tenure-track, and non-tenure-track faculty in accounting.
The U. S. Education Department’s statistics center listed 1,528 two-year colleges in its 2007
survey of institutions of higher education.4 The Education Department reported that 6,617,930
(or 36.2%, more than 1/3) of all college students were enrolled in community colleges in 2007–
08. About 47%, nearly half, of all students in public colleges and universities were enrolled in
two-year colleges before attending a four-year institution. And about 49% of all undergraduates
were enrolled in a two-year institution at some point. There are reasons to expect that these
1 National Survey of Postsecondary Faculty, http://nces.ed.gov/surveys/nsopf/. “NSOPF was conducted in
response to a continuing need for data on faculty and instructors—persons who directly affect the quality of
education in postsecondary institutions. Faculty are the pivotal resource around which the process and outcomes
of postsecondary education revolve. They often determine curriculum content, student performance standards,
and the quality of students’ preparation for careers. Faculty members perform research and development work
upon which this nation’s technological and economic advancement depends. Through their public service
activities, they make valuable contributions to society. For these reasons, it is essential to understand who they
are; what they do; and whether, how, and why they are changing. This study was designed to provide data about
faculty to postsecondary education researchers, planners, and policymakers. NSOPF is the most comprehensive
study of faculty in postsecondary educational institutions ever undertaken.” NSOPF was conducted in four
cycles: 1987–88, 1992–93, 1998–99, and 2003-’04. Because survey items are not always consistent from cycle to
cycle, and because a reasonably long period was desirable to establish trends, this report relies on the 1993 and
2004 survey data. The two previous reports on accounting faculty relied on these surveys, as well, so results can
be compared. No further faculty surveys are planned, according to NCES staff, so the 2004 data are the most
current available.
2 “The purpose of NPSAS (National Postsecondary Student Aid Study) is to compile a comprehensive research
dataset, based on student-level records, on financial aid provided by the federal government, the states,
postsecondary institutions, employers, and private agencies, along with student demographic and enrollment
data. NPSAS is the primary source of information used by the federal government (and others, such as researchers
and higher education associations) to analyze student financial aid and to inform public policy on such programs
as the Pell grants and Stafford loans.” http://nces.ed.gov/surveys/npsas/about.asp. “The first NPSAS study
was conducted during the 1986–87 school year; subsequent studies have been carried out during the 1989–90,
1992–93, 1995–96, 1999-2000, 2003-04, and 2007–08 school years.” http://nces.ed.gov/surveys/npsas/ (It is
only possible to break out accounting majors in the 1989-90, 1992–93, 1995–96, 1999–2000, and 2007–08 data.
Appendix A presents anomalies in the 1992-93 NPSAS data—a large departure from standard Education Department
data on enrollment—to justify omitting those data from tables in this report, a conclusion in which National
Center for Education Statistics (NCES) staff concur.)
3 See Accounting Faculty in U. S. Colleges and Universities: Status and Trends, 1993–2004. Sarasota: American Accounting
Association (and American Institute of Certified Public Accountants), 2008. http://aaahq.org/temp/phd/
AccountingFacultyUSCollegesUniv.pdf. Also, Trends in Non-Tenure-Eligible Accounting Faculty, 1993–2004,
Sarasota: American Accounting Association, 2009. http://aaahq.org/temp/phd/LeslieReport2.pdf.
4 Data extracted from the Integrated Postsecondary Education Data System (IPEDS) Data Analysis System, http://
nces.ed.gov/ipeds/datacenter/.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
10 American Accounting Association
trends will continue or increase. With economic challenges facing many families and individuals
in the current environment, tuition and fees at four-year institutions have risen beyond the
reach of more prospective students, leading them to apply to community colleges in increasing
numbers. Similarly, as unemployment rises, more workers will undoubtedly opt to retrain by
returning to college and community colleges are expected to absorb a large proportion of these
students.5 In addition, expanded GI Bill benefits may encourage large numbers of veterans to
attend community college.6
Overall this study finds that faculty who teach and students who study at two-year institutions
differ in many ways from those at more traditional four-year institutions. The major difference
is that a large majority of both faculty and students at two-year institutions are part-time.
Both faculty and students are also far more likely to be employed elsewhere. Faculty are less
likely to have terminal degrees (11.2%, and 70.5% have a master’s in 2004) or their highest degree
in accounting than are those at four-year institutions. Students are substantially more likely to
be female, are more career-oriented (than transfer-oriented), and appear to be less prepared for
college-level courses.
Part-time faculty at two-year institutions (two-thirds of the total) spend more time on their
other jobs (about three-quarters of their working hours) than on teaching and research. Students
who transfer from two-year to four-year institutions may find that faculty at their new institutions
have a different, perhaps more intensively disciplinary, orientation to the field. Students’
own work experience may help them understand basic ideas and practices in introductory courses,
but their experience may not be as relevant in upper-level courses. Adapting to a different set of
expectations following transfer may involve some “transfer shock.”7 By understanding the variety
of motives with which students enroll in two-year institutions, as well as their more varied
backgrounds, faculty at both two-year and four-year institutions may be better prepared to adopt
varied and nuanced approaches to teaching and learning that take this variability into account.
This report describes the characteristics of both faculty and students and discusses some of the
implications for the field. It is presented in three parts. The first, “Institutional Context,” presents
general data on two-year institutions. The second, “Characteristics of Accounting Faculty at Two-
Year Colleges,” relies on NSOPF data to cover the demographic characteristics, career trajectories,
and work patterns among those who teach in the nation’s community colleges. The third, “Characteristics
of Accounting Students at Two-Year Institutions,” describes those who have enrolled at
these institutions who self-report that their field of study/major8 is in accounting.
5 Both the New York Times and Washington Post have recently run stories highlighting enrollment pressures at
community colleges. See http://www.nytimes.com/2009/10/28/education/
.28community.html?_r=1&scp=2&sq=community%20college&st=cse. And see:
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/30/AR2009053001762.html?hpid=topnews.
6 See Chen, G. How Will the New GI Bill Impact Your Community College Enrollment Options? Community College
Review. July 9, 2009. http://www.communitycollegereview.com/articles/130.
7 See Ishitani. T. T. How Do Transfers Survive after ‘‘Transfer Shock’’? A Longitudinal Study of Transfer Student
Departure at a Four-Year Institution. Research in Higher Education. 49: 403–419, 2008.
8 “Field of study or major” is the terminology used in the NPSAS survey. Students at two-year institutions may not
settle on a major until after transfer to a four-year institution. Accordingly, the estimates in this report may not
“capture” all students who enter two-year institutions but ultimately receive baccalaureate or higher degrees in
Accounting.
Accounting in Community Colleges: Who Teaches, Who Studies? Leslie
American Accounting Association 11
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