Accountancy: The Worst Times at the Best of Times
Financial Times (08/03/00) Vol. 75, No. 7 p.8; Beard, Alison
AICPA says that the combination of a healthy economy
and an excess of job opportunities has equaled trouble for the
accounting industry, with the number of accounting majors in
undergraduate universities dropping 20 percent over the last
three years. Experts say that the Savings & Loan scandal of the
1980s did not help the perception of the accounting profession,
nor did the addition of state laws that require CPAs to stay in
school for more than four years to gain 150 credit hours. Milly
Pellizarri, external relations coordinator at the Texas Society
of Certified Public Accountants, says, "Students are looking for
high salaries, power, titles, and they're not equating that with
accounting." To combat the decline in numbers, associations have
increased efforts to attract young people to careers in
accounting. The AICPA is piloting an accounting curriculum that
will be installed in 4,000 high schools throughout the United
States, as college freshmen are courted through promotional
brochures and alumni dinners. Bernard Milano, executive director
of the KPMG Foundation, says that his organization has improved
internship programs in order to appeal to potential accountants.
Companies are now hiring interns by the hundreds, often paying
them as much as first year associates, treating them to sporting
events and parties, and even subsidizing their housing.