Category Archives: Academics

classes, degree planning, academic workshops, CPA exam planning and preparation

Academics, Employment, Melissa

Spotlight on MIS

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Imagine doing all your accounting on this paper!

Last week was the deadline for resume submissions for Spring MPA internships. It was a stressful process and it is such a relief to be done! That being said, I do not have much recruiting-wise to talk about in this week’s blog.

Instead, I am going to talk a little bit about another discipline that I believe is becoming increasingly important in the accounting industry. Management Information Systems, or MIS as it is known around McCombs, is essentially a technology/business hybrid. MIS focuses on bridging the gap between the business world and the computer science world, which is every so important as the distinction between those two fields begins to blur. If you are interested in MIS, you should definitely consider it as your minor.

If you saw the picture above, there is a good chance you didn’t know what that is. That’s ledger paper. Accountants use to use it to report journal entries and reconcile accounts. My Audit professor likes to show it to us occasionally to remind us how important technology is to the accounting profession today.

I stumbled upon a crazy article on Forbes.com this morning about how Target uses data mining in its operations. Data mining is “process of analyzing data from different perspectives and summarizing it into useful information – information that can be used to increase revenue, cuts costs, or both.” Target uses data-mining to discover which coupons/promotions are most appropriate for each customer. By analyzing customer’s purchases over time, Target professionals see patterns that they can then use to interpret buying habits of each customer. The Forbes article describes a situation where Target discovered, based on buying patterns, that a young girl was pregnant and thus, sent her coupons for diapers, cribs, etc. Her father was infuriated and insulted until he realized that his daughter actually was pregnant. Target is definitely not the only company using data mining- so be aware! I think data mining is so interesting, but there are certainly some critics who believe that we are heading towards a Big Brother situation with all of this personal data being stored by different companies.

Speaking of Big Brother, I love this 1984 Apple computer commercial.

Academics, Events, Feature, Melissa, Recruiting

Surviving my first week of career events

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Recruiting is all about finding your perfect fit among the firms.

It is the point in the semester where all of the firms hold “Career Nights” for the third-year MPAs. Essentially, it is a less formal information session paired with a networking reception. To mirror my blog about mock interviews, I will tell you a few things I learned this week.

1. You really will start to discover the firm where you will fit best. Originally, I approached that notion with skepticism, thinking there was going to be a consistency between the firms. This couldn’t be farther from the truth. By no means are there “good” vs. “bad” firms, but moreso you will start to see where your personality fits in.

2. Know what makes you fun/unique. Of course it is important to know what year you are, what track you are pursuing, where you want to intern, etc. But how long do you think you can talk about that in a networking setting? Not very long. It is great when you talk about where you studied abroad, your favorite hobby, or your favorite food in Austin. And when you connect with someone who also lived in Paris, or also loves P. Terry’s, it makes the conversation more memorable and personal.

3. Get business cards and send thank you emails. But, do this because you WANT to, not because you think it something you have to do. The professionals can tell if your email is genuine or if it is forced. Make it personal. Do not have a shell email with which you “fill-in-the-blank” for firm and professional’s name.

These are just a few tips- but hopefully you get an idea for what Career Nights are really about, and I hope that my advice helps you in the future.

Academics, Centennial, Events, Karen, Student Life

Time Travel: The History of Accounting

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Once a number cruncher, always a number cruncher!

The celebration of the UT Accounting Program’s centennial anniversary is fast approaching. What would be a better way to celebrate this longstanding success than looking back at how the field of accounting was born? This will be the first of a three-part series on accounting: how it started; how it’s viewed and used in today’s world; and how the accounting program was established and developed at UT.

It might be a surprise to some, but accounting is one of the oldest professions in history. Families and small communities had to account for food and other necessities in preparation for cold and harsh seasons. Researchers and anthropologists found evidence of accounting records that existed during the Babylon Empire. In other words, formal accounting records were already in existence since 4500 BC! They also found accounting records in the Code of Hammurabi which dates back to 2250 BC! This just proves that as business transactions and government tax systems became more complex, people knew that they had to account and keep track of their revenues and expenses. Continue reading Time Travel: The History of Accounting →

Academics, Allison, Career, Recruiting

Not Just Your Average Number Cruncher

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I thought I would take a minute to talk about one of my classes again.  This time I am not so much in fear of the class, as I am enjoying it!  My business communication class is turning out to be very useful and practical for my life and career.  We are learning about writing, speaking, and interpersonal communication skills – all KEY skills to being successful in an accounting career, and pretty much any other career for that matter.

Some of the assignments so far include memo writing and revision, presenting in front of the class, and learning how to work with various personality types.  Even as I am writing this blog, I am thinking about some of the tips and tools to write more effectively (most notably, the SEC recommendations issued in the “SEC Plain English Handbook“).  When writing a memo, (which I anticipate writing many as an accountant), it is important to be clear and concise.  More importantly, you must know who your audience is and direct your writing towards them.  A memo directed to the CEO versus one directed to lower level staff may have a different tone and different information because who its intended audience is.  The SEC guide shows many more suggestions for how to write and communicate most effectively. Continue reading Not Just Your Average Number Cruncher →

Academics, Events, Melissa, Recruiting

In defense of mock interviews

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Rishnie and I at our first MPA recruiting event!

Hello everyone! Recruiting season is officially here! This week was a relatively light week according to older MPAs and my audit professor, Professor Kachelmeier.  Regardless, this week has definitely taught me that time management is going to be ESSENTIAL as the recruiting season goes on. This week we had mock interviews, and company nights with a few firms. I will share with you three things that mock interviews taught me this week.

1. Don’t be nervous: This is KEY to the interview process. I can tell you that before I have even had my first ‘real interview’ because it is a universal truth that completely applies here. Your interviewer can sense your nerves. Sounding nervous can convey the message that you are unprepared, which is something that can quickly put you at the bottom of the firm’s prospective intern list. You have to remember that recruiters are people too.  Don’t be nervous because you think that they are judging you. They truly WANT you to succeed.

2. Be yourself: I think this little idiom applies to every aspect of life, however, I will explain its relevance in regard to mock interviews/real interviews. Basically what it all boils down to is that we are all MPAs.  Texas has the number one accounting program in the nation, and the recruiters know how well McCombs prepares us for our careers. That being said, your interviewer is really trying to discover if you would be a good fit for his/her firm. It is all about your personality because nobody wants to work with colleagues that they do not like. You must stay true to yourself because the “interview version” of you must be consistent with the “work version” or else you convey that you are not being real.

3. Practice makes perfect: There is no better way to prepare for real interviews than participating in a mock interview. If you make a mistake in a mock interview, you can fix it before your real interviews. If you make a mistake in your real interview, you can’t go back and fix it.

I strongly encourage EVERYONE to do mock interviews and please comment if you have any questions about the process!