Category Archives: Academics

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

Academics, Career, Natalie

My Busy & Exciting MPA Internship: An Overview

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It’s been about a month now since I completed my MPA internship in Dallas, and I’ve got to say, I still haven’t gotten used to the fact that I have to be a student again. I really enjoyed being able to go home and not have any homework to worry about. I even had time to watch American Idol for the first time ever (I’m a little behind on the craze). Getting paid to work hard rather than paying to work hard was nice, too.

However, waking up at 6:30 a.m. Monday through Friday is something I could do without, and one thing I’ve thoroughly enjoyed since I’ve been back at school is not setting my alarm. Having class two days per week from noon to 6 p.m. certainly has its perks. Five days off and two days of work…completely opposite from my work schedule.

I’m really grateful for the unique internship opportunity that the MPA program incorporates into our degree. To be able to spend three months doing an internship that reflects exactly what we’ll be doing in our full-time job is a fantastic chance to see what’s ahead, but still be able to come back and learn about our profession from a different perspective. To sit through an Introduction to Auditing class when you’ve never seen a real audit is kind of like reading assembly instructions without any visuals. You understand what you’re reading, but it’s tough to see the big picture since you have no idea what the final product is supposed to look like. Now, having worked on a few audits during my internship, I have a completely different perception of an audit for my Studies in Auditing capstone class. So far, the class has been much more rewarding and interactive than my Intro to Audit class. It has nothing to do with the quality of my professors for the two classes (both are excellent); rather, I think it is because I have seen what an audit actually looks like so I am able to better appreciate what I am learning. Continue reading My Busy & Exciting MPA Internship: An Overview →

Academics, Belem

Auditing a class

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This semester I am auding the Oil & Gas Accounting class. Since I will be working in Houston and have no experience with the oil & gas industry, I thought it would be useful to take this class. However, in order to get credit from my university in Mexico for the classes I’m taking here (I’m part of a double degree program with Tecnologico de Monterrey), there’s a list of classes that I have to take during my year here and Oil & Gas Accounting was not on that list. Therefore, auditing the class was my solution.
 
What does auditing a class mean?
It means that you go to the class and listen to the lectures, but do not earn credit for taking the class.
 
How can I audit a class?
I talked to the professor and asked for his permision. He signed a form I printed from the Registrar’s Web site and then I took it to my academic dean’s office for approval. I also suggest that you talk to your academic advisor first, so that you know if auditing a class is the best choice for you.
 
What can I do when I audit a class?
You can attend classes and take as many notes as you’d like. In my case, the professor has been very helpful. He suggested that I ask a friend for the PowerPoint presentations (since I don’t have access to Blackboard for that class) or send him an e-mail and he’d send them to me. I bought the book for the class and read all the chapters just as if it were another one of my classes.
 
What can’t I do when I audit a class?
  • Participate in class discussions
  • Hand in papers or homework assignments
  • Take exams or quizzes
  • Earn any credit  
Academics, Career, Darrin, Student Life

2010

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Going home to four feet of snow and -26 degree weather was not exactly optimum conditions, but I would not have it any other way. This past Christmas break in Nebraska was the last time I would return home for an extended period of time. There will always be the occasional weekend trip or a few days here and there for the holidays, but no more “month long” vacations to a place that I have found to be so peaceful. I thought that leaving home would get easier as I got older…that I would be more prepared because I have had four and a half years of practice; I was so wrong. Dorothy had it right…there is no place like home.

And now 2010 is upon us, and 75 degrees with sunshine is not a bad way to start off the new year! Graduation is near, with only Non-Profit/Government Accounting and Strategic Control Systems standing in my way from finishing this 160-academic-hour trip. I am also beginning my CPA Exam studies; I would have liked to have started two weeks ago but an unfortunate mistake by Becker has set me back. I still believe I will have enough time to finish before work begins.

*Cough Cough* Speaking of work…I have a job…a career! WOOHOOOO! A year ago, in the middle of a terrible recession, I was sick to my stomach for turning down my full-time offer in hopes of finding something better. Friday, January 8, made it all worth it. I will be working for Ernst & Young in Dallas. Even more exciting is that I am doing a new joint program between Audit and Transaction Advisory Services (TAS), where I get to do a little of both for the first three years.

This year has started out great and I am grateful for the opportunities I have been given; I hope we can all finish out this year in the best of spirits (even those of us who are not graduating). Best of luck during the semester everyone.

Academics, Austin, Career, Darrin, Student Life

The Big Picture

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Many students come to UT knowing which major they wish to enroll in and which career field they hope to enter upon graduation.  A lot of these students change their minds, some multiple times.  At the same time, there are students who have no idea what they want until graduation is staring them in the face.  Each path is a product of choices and preferences and no one way is a best fit for all.

I entered UT knowing full well that I wished to be a MPA student.  My mind was set because of an experience I had in seventh grade and I even took two years of accounting in high school to confirm that I knew what I wanted.  I chose my school, my major, my career field and a lifestyle so long ago that I sometimes wonder…why was I so sure?

After a decade of striving after a childhood dream I look back and wonder; Did I do the right thing?  Is this really what I want?  Spring 2010 will be my final semester here at Texas and with only two classes standing between me and graduation…I search within myself for reassurance; reassurance that I have made the right choices and I will not leave with any regrets.

Five years of homework, group projects, pop quizzes, midterms, and late night three-hour finals…it has all become such a blur.  The only way I can justify years of hard work is by stepping back and looking at the big picture.  Sure, if I think of each day as just another day to learn GAAP, Porter’s Five Forces, Supply-Chain optimization formulas, and put-call strategies, only to be later regurgitated on an exam that can never fully test what I have learned…then yeah, I may walk out of here thinking that I wasted five years of my life and “$150,000 on a tuition that I could have got for $1.50 in late charges from the public library.”  This is a very bleak outlook on life and I refuse to be this way.  I refuse to think that I went a thousand miles from everything I ever knew just for a piece of paper with a fancy seal on it.

Looking at the big picture, I see that each remarkable professor that I have had the pleasure of learning from has shaped me in a way that a book never could.  I see that every group project and student organization I have been a part of has helped to develop team-building and leadership skills that are a necessity for successf in my career.  I see that this school’s reputation gives me an advantage over all others across this country.  I see that each day at this school was a puzzle piece to the most complex case study I have had to tackle yet, with the final corner piece to be placed on May 20, 2010.

The big picture is what has motivated me each day since I came to Austin.  Knowing that the MPA program is the best stepping stone towards my future goals, I am able to stay focused and driven to perform in class. Quoting Professor Lil Mills, a Tax Guru here at UT…”To all of you who are questioning your time here, I encourage you to step back and look at the forest, don’t get tangled up in the trees!”

Academics, Jaanki

Thinking Lean

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Jaanki Jeevan
Jaanki Jeevan

Before I start spouting lean accounting ideas, here’s a brief introduction of the Lean Accounting Summit. It is an annual event where companies come together to learn about lean concepts that can be applied in their operations. Ten professor-student teams from different schools are also selected for scholarships to attend the summit, and this year I was fortunate to get the opportunity!

So, what is lean? It is simply the identification of waste and then the removal of that waste. It can be applied to any process within any function of an organization. This may sound really easy but what makes it such a hot topic? Companies today are so complex and there is resistance to change processes that are already seemingly functional. But as any lean proponent or company that has gone lean will tell you, it has a lot of benefits, some of them being cost reductions, empowering employees and reducing information redundancy.

If we need to identify waste we need to know exactly what it is. Waste is “non-value-added work.” Value-added work TRANSFORMS the MATERIAL or INFORMATION in a way that fulfills a CUSTOMER NEED. Any process or task that does not fit this description is basically waste and should either be eliminated or improved to a point where it does add value.

You must be wondering how all of this relates to accounting. Accounting is a source of a lot of information for the company. In order for this information to be relevant and useful to all other functions, lean is the way to go. There are two definitions for lean accounting: “Lean for Accounting” vs. “Accounting for Lean.” Lean for accounting is making the accounting function within a company lean and removing waste from its processes. Accounting for lean, on the other hand, is accounting for a company that is lean in their manufacturing so that production can make sense of accounting information. This involves modifying traditional financial statements to provide “Plain English Statements.”

Well, I think that is a lot of information to brood over. In my next post I will provide some examples of how companies have implemented lean and the benefits they have derived from it. Of course, the main content of this information is from the lectures at the summit and all the credit goes to the speakers. I’m just a medium to reach out to you fellow MPAs who are interested in lean ideas. I personally find it extremely interesting that just small changes can have huge savings and benefits over the long term. Just like a few more hours of exercise during the week can have a long-term effect.  😉