Eliminate the Ph.D. requirement for accounting educators

Article Abstract:

Accounting practitioners and educators agree that accounting education does not adequately prepare students for professional certification examinations, but do not agree on whether preparation for the exams should be an objective of the undergraduate curriculum. Accounting programs offered in universities and colleges must now meet accreditation standards which include non-accounting related criteria, as opposed to other professions such as law and medicine that have their own accreditation agencies. Accounting education is criticized for the importance placed on the doctorate degree for educators, though the degree is not seen as relevant by practitioners; the amount of irrelevant, repetitive coursework required in graduate schools when the objective should be to make students familiar with accounting concepts; and the suggested five-yearaccounting program is faulted for being economically impractical for students. Recommendations to improve the quality of accounting education are: eliminate the requirement that graduate students take non-accounting courses, base faculty qualifications on their accounting knowledge and their ability to communicate it, form an accreditation body directed by the accounting profession, drop the requirement of a Ph.D. for educators, and have the accounting profession direct accounting education.

United States, Accounting, Education, Study and teaching, Accountants

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How do companies analyze overhead?

Article Abstract:

Survey responses from 155 Fortune 500 firms indicate that most major US industries may not be establishing the right prices for their products. Calculation of fixed and variable overhead rates was undertaken by 72% of the respondents, but 28% do not make these calculations. Most companies were found to plan, account for, and manage overhead through traditional cost accounting methods. Although 86% of the respondents have a standard cost system, 14% do not, which is startling since most cost accounting experts emphasize development of a standard cost system. There appears to be a trend in high technology industries to turn away from traditional cost accounting methods.

Methods, Analysis, Accounting and auditing, Corporations, Overhead costs, Cost accounting

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