Articles for Educators
Some Virginia colleges and universities are creating ways for accounting students to get the data analysis skills they need to succeed in the workplace. The random sample isn’t necessarily going away, but it’s no longer the absolute standard for audits. Big Four firms and others with massive resources have the ability to look at entire populations. “We all grew up in random sampling, representative sampling, looking for anomalies in the population by selecting things,” Dan Hudgens, CPA, a partner at Deloitte in Richmond, said at the VSCPA’s Top Firms Roundtable in 2017. “With data analytics, being able to look at 100 percent populations, we’re able to focus our audits much more.”
Data analytics, artificial intelligence, virtual workspaces, remote learning … The professional life of a CPA is a far cry from the physical general ledgers of the past. The skills and competencies CPAs need today today to continue to provide high-level services to their companies and clients are rapidly changing.
The post-graduate summer is a limited window of time to maximize efficient, effective CPA preparation. The momentum to study can dissipate as candidates start to work full time and their plates fill up with on-the-job deliverables. Passing the CPA Exam as soon as possible after graduation should be a core aim for an accounting graduate.
A new book, Advice for a Successful Career in the Accounting Profession: How to Make Your Assets Greatly Exceed Your Liabilities, published by Wiley, sheds light on how to be successful at all levels within an accounting career — something that’s not readily discussed in the classroom.