Tag Archives: accounting

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, 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!

Career, Employment, Events, Melissa, Recruiting, Student Life

“Grew up in DFW, lived in Paris, loves cycling”

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Tonight I attended the MPA: Building Connections workshop at McCombs. The workshop was led by Michelle Polkinghorn and she brushed us up on some crucial networking skills in preparation for the “Meet the Firms” recruiting kickoff this week at DKR Texas Memorial Stadium. For those of you who are not, or have not, recruited recently, “Meet the Firms” is an opportunity for students and firms to meet and connect with each other in a structured setting.

We were given a bunch of important tips but one particularly resonated with me.  When I returned home, I turned on The Office while I worked on some audit homework, and I was reminded of this tip and now feel obliged to pass it on to you all.

Michelle suggested that after talking with a recruiter, and receiving their business card, you should write on the back a few key facts about the recruiter or memorable talking points. Of course, this should be done out of view of the recruiter. Suggested were writing things such as “UT alum” or “Talked about our love for cycling.” Anything that will help you to create an actual memorable relationship with the person.

Tell me which sounds better:

1. “Oh, hi…do you remember me? We, um, talked before…at the event last week…”

OR

2. “Hello *recruiter’s name*, how are you doing? Did you ever get a chance to check out that bike trail we talked about last week at the brief and meet?”

I know I have a tendency to be extreme, but I hope you see my point.

Now back to The Office. This particular episode pits Dwight and Michael against each other competing for a big client. Although we can all agree that Michael can be a little bit radical and unreasonable in his business methods, he successfully employs this business card tip! In Michael’s case, he writes down facts about his clients’ families and likes/dislikes. Therefore, in a business setting, Michael delights his clients using the information he had written down.

Personal facts show his clients (and in our case, recruiters) that he cares about them and helps to maintain, as well as strengthen, their relationship.

My favorite clip from the episode reveals Michael’s thoughts on Dwight:

Academics, Allison, CPA Exam

Back in the Swing

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AICPA ThisWayToCPA logoHello everyone. I hope you all enjoyed your holiday season and are like me, getting back into the swing of things.  Today was the first day of classes and it seemed to go well for everyone.  This semester for me will be filled with classes, homework, and the all important  CPA exam preparation.

I signed up for an online course and plan to take my first section within the next 2 months.  I applied for the exam over break and am still waiting for approval to schedule my exam.  There are plenty of instructions and information on the CPA exam on the NASBA website as well as the AICPA website.  Please post comments if you have any question about the process.

The classes I’m taking this semester include ethics (which is a required course for the CPA exam in some states including Texas), business communication and corporate governance.  These are mostly electives that I have chosen because I feel they will best help me in my future, on the exam, and in my career.  I also am taking two accounting electives that are more audit focused.

Please post comments of any questions you may have about the CPA exam or courses you can take as an MPA, both core and elective courses.  Thanks!

Student Life, Uncategorized

New Year’s Revolutions

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New Year's resolutions can sometimes go in one year and out the other

It’s that time of year again… a new year, and time for New Year’s resolutions. I thought about what I wanted to do with this year and how I could improve myself, but I lacked inspiration, so as usual I turned to Google.

The first thing I found was a list of the ten most common New Year’s resolutions. They were all excellent, but all of them are things I already strive for on a daily basis: spending more time with loved ones, getting more organized, exercising, eating healthy, etc. I remained uninspired.

After spending more time in attempts to find a resolution, I stumbled upon the million-dollar question: Why do I even need to make a new year’s resolution? What makes January 1st so special in that it’s the only time of year to make a new resolution and improve myself? I knew there had to be a reason resolutions exist, otherwise, why is this custom worldwide?

After contemplating these questions (and doing some research of course), I found my answers. The magic of a new year is that it inspires us to dream big. We tend to get stuck in the monotony of day-to-day life. There is just something about a new year that breaks that cycle. It helps us realize that “if we did all the things we are capable of, we would astound ourselves” –Thomas Edison.

The promise of new beginnings allows us the opportunity to shoot for the stars and remove the cynicism that seeps into our lives as the year progresses. Kristi Hedges from Forbes Magazine said, “we’ve been trained to be critical and think small. We’re cautious of new ideas and motives, and we wait for the other shoe to drop. We get a lot of social reinforcement for this posture by being heralded as savvy, analytical, and smart.” Continue reading New Year’s Revolutions →