Academics, Austin, Career, Darrin, Student Life

The Big Picture

Leave a comment

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

4 Comments
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.  😉

Bart, Career, Uncategorized

Three Months In

Leave a comment

I’ve been an associate auditor at a Big 4 firm for three months now, and am currently assigned to my third client, a nonprofit. My first two assignments involved public company interim testing, and this one is a 9/30/09 year-end audit.

Considering there will be a lot of year-end testing to do during busy season in January, February and March, I’m glad to be learning now how to do year-end audit work in what I think is probably a less stressful environment than the busy season will be. It’ll be nice to know to some extent what I’m doing when busy season starts.

There’s a lot to learn. I mean, from one perspective, most audit work sounds fairly simple. For Cash, you confirm account balances with the bank, tie and agree the comparative summary to the general ledger (or trial balance), examine the reconciliation, and look into any significant reconciling items such as deposits in transit or outstanding checks that haven’t yet hit the bank account. Sounds fairly simple. And it can be, especially if the client is organized and provides you with coherent, easy-to-follow reports and documentation.

But in large companies, there’s a lot going on and things can get more complicated, or at least seem so, by just the sheer volume of transactions and supporting documentation.

For example, let’s say you’re working on PP&E. You want to look at any fixed assets that were purchased or built during the year and added to the PP&E balance. So you get a detailed listing of fixed asset additions, make selections, and request supporting invoices, checks, requisition forms, etc. You want to see what the supporting documentation tells you about the additions. Were they approved? Were they added at the proper amounts and in the right period? These seem like fairly simple questions. Continue reading Three Months In →

Belem, Career

All about the perfect fit

1 Comment
El Cerro de la Silla!
El Cerro de la Silla!

I feel like I haven’t written in a long time, and I am truly sorry for that, but these past few weeks have been pretty intense. I went to an office visit with a company I loved, had a second round of midterms, and even got to go back to Monterrey for a weekend.

Anyway, today I am really excited because I can finally say that my recruiting process is over. I accepted an offer to work for an accounting firm in Houston, starting in January 2011 (right after my graduation in Mexico).

It is not that I didn’t like the recruiting process; I liked being able to network with a lot people and I think a learned A LOT. Pretty much everything was new for me, but I am sincerely grateful for all the support I received from the people in Career Services. They all helped me review my resume a thousand times, answered all my doubts, and even helped me improve my interviewing skills with a mock interview.

What I am really excited about is the opportunity to work at a great company with great people. Throughout the recruiting process everybody says that finding a job is all about finding “the perfect fit,” but to be truly honest, I don’t think I really believed that. Right now, I can only say that they really mean it and now I understand why that is true. During one interview with one manager, she suggested that I look at the people in the company and the other interviewees and imagine if I saw myself working with them. Well, now I feel I found the place I fit in and the people I want to work with.

It all started with the pre-interview dinner, when one partner approached me by name. I know that I had my name tag, but I really appreciated that he had already seen my resume, he remembered me, and he was interested enough to remember my name and ask about my background. Besides, during the dinner I met a lot of people from the staff and I enjoyed talking to each of them. The next day I talked with two partners during the interviews and I ended up even more interested in the firm. After that, going to the office visit just made me want to work there even more.

Now you can imagine how excited I was when I received the offer, and even now, when I officially accepted it. I just can’t wait to be there.

Academics, Grace, Student Life

Love the place that you study in!

Leave a comment

It is hard to imagine that the second run of fall exams have already come to a close. After spending many days hiding from my furry roommate during the last two exam seasons, I have visited quite a few libraries on campus (and there ARE quite a few on campus!). I know that some people prefer to study at coffee shops or in their rooms. I prefer libraries mostly because I have problems concentrating for a long period of time (yes, the secret is out), and I need to be around people who are hard at work to force myself to stay on task. Plus, I can do without another excuse to drink more caffeine. Anyway, for the people who might have the same preference as I for the same or different reasons, allow me to share my thoughts on each library that I have visited below. 

 

  1. Perry Castaneda Library (PCL)

Perry Castaneda Library building

I like the PCL mainly for its convenience, because the West Campus shuttle picks up right in front of the PCL until as late as 10:23 p.m. on weekdays, which saves some walking for me when I am already tired from studying. Also, I have checked out a locker in the library that allows me to leave my textbooks and binders there. The PCL also has very long hours that could accommodate anyone’s schedule, though I have not stayed past midnight at the PCL. Finally, PCL’s policies on food and drink in the library are lax, so it is a good place for continuous studying. However, the PCL is sometimes too cold, especially on the higher floors. It is also in serious shortage of electrical outlets during exam seasons when everyone is vying for a table close to an outlet, which is not the most helpful when I need to be on my laptop. Furthermore, some of my friends have complained that they cannot stop sneezing when they are in the PCL if they are studying among the stacks. I guess being allergic to books definitely makes studying in a library like PCL somewhat more painful.

 

 2. Architecture Library Reading Room

Architecture BuildingThe architecture building is right across from the Texas Union, and the library has a side facing the lawn in front of the Main Building. The library itself is very beautiful with dark furnishing and plenty of natural lighting. Windows are important to me because I just need to have a piece of the gorgeous late autumn weather while I am studying. It also provides large desk spaces for people who like to spread their things out like me. However, one downside to this library is similar to that of the PCL, which is an outlet shortage. Another is that its hours are more limited, especially in the evenings and on the weekends. But, overall, the architecture library reading room is one of my favorite spots on campus.

 

 

 3. Law Library

Law School Library buildingTo be honest, I was only in the law library once to study, though it was a ten-hour stay. The law library opens earlier than most other libraries on campus on Sundays, so I trekked over there one Sunday before the first exam season. When I said I “trekked,” I really did. The law library is located past San Jacinto Blvd. on Dean Keeton St., which is unfortunately a good twenty-plus-minute walk from my apartment. It is also far from any food places that I am familiar with. The library itself has many tables and natural lighting. It was also a treasure trove of legal documents and periodicals, which are interesting to look at during study breaks. The thing I enjoyed the most about the law library is that it is definitely in no shortage of hardworking students. Once I saw the law students with the stacks of books by their laptops, I felt comforted by the amount of studying that still awaited me. However, evidently, the inconvenience of the library’s location from my usual whereabouts has kept me from visiting it again.

 

 4. Engineering Buildings

Engineering BuildingThe engineering library is also another option that is easily accessible to me, since it is on the West Campus shuttle route and not too far from McCombs. The library itself is smaller than some of the other libraries on campus, but it has plenty of large tables for students to work on. However, I spent my first finals reading period in Engineering Teaching Center II (ETC) on San Jacinto Blvd. and Dean Keeton St. There is a long row of cubicles along the eastern side of the building with windows that is an ideal studying location for me. Each cubicle has more than one electrical outlet and plenty of workspace. The temperature is comfortable in the building, and it has just the right amount of white noise and diligent students to keep me on track. I think I will reconsider this location for the upcoming finals this semester.

I hope the list gives some new options to other diligent MPA students who are getting ready for finals!

Note: All the pictures of buildings in this post are taken from utexas.edu.

MPA Student Life Blog