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Accounting Group

(Cesar Calderon, Jake Chandler, and Jordan Ikeda)


Nancy Roche
Writing 1010-013
24 November 2014
The Prominence of Accounting at The University of Utah
Here at the University of Utah, the accounting department at the David Eccles
School of Business is ranked 22nd in the nation by Public Accounting Report. Every
indication is that the University of Utah is considered one of the best schools in the nation
when accounting is the topic of discussion. Its said that about 95 percent of graduates in
Accounting at the University of Utah are employed within the first three months after
completion of their degree. Students in the department of accounting in the School of
Business learn to keep financial accounts and learn systems of recording and
summarizing business functions.
Why is the accounting profession important to our society today? Accounting is a
discipline that can assure that a business does everything right financially and runs a
sound operation. If someones business is not going as planned, accountants come in and
help out the company/business to inform them what they can do better in their business
(or even sometimes they plan a takeover). We speak of the language of business for a
reasonthe accounting profession carries an elaborate understanding of techniques for
understanding a businesss operations and finances. Accountants help businesses expand
their companies and avoid fraud. If any company wants to succeed, they will need at least
one accountant no matter what; the presence of an accountant is a way to provide a safe

and successful business. In the business school in Utah, the program for accounting is
ranked in the top 25 of accounting programs in the United States. Because it is one of the
best, hiring a person from the University of Utah is something that any company would
love. For that reason, people who want to be accountants have to carefully consider their
educational options. They need to know that attending a better school will help them find
a job faster (a job that will pay more).
In fact we got the chance to speak to Shannon Leanne Charles, a Professor for
accounting at the University of Utah, who had the interest to tell us more information
about the program of accounting at the U. She indicated that here at the U accounting
is huge major and is very selective about the people they choose in it. She said try and
get as much info about this major before really considering because this major isnt for
everyone. We asked her what skills do you again from being an accountant and she
replied with Logic, Analysis, Critical, Skepticism skills, Observe detail, and accounting
skills obviously. Which as a business major its highly need.
As we started talking more about the discourse of accounting she explained that
theres not a huge difference of discourses in business, they all have their own technical
language but overall it connects with other parts of business. Finance, accounting,
marketing, operation management, entrepreneurship and business administration all
eventually connect together. She described that accounting is like a puzzle board, once
you have all the information its easy to bring it all together and thats why she enjoys it
so much. The reason students enjoy it so much is because it gives the ability to take
these numbers and putting it all together applying to help others.
She clarified that with time the department of accounting has hardly changed at

all even when she was in school and at the university the freshmen gain more maturity
over the years. It takes time to become an accountant and thats why there are
communities here to help students achieve their dream of being successful. Its absolutely
encouraged that the upperclassmen in accounting associate with future to be accountants.
One of the largest most helpful group is Beta alpha psi a group that is dedicated to
providing opportunities and promoting character traits that will allow its members to have
a fulfilling experience which will aid them in finding and holding successful and
meaningful careers in the financial services industry (Beta alpha psi).
There are also programs like Leap Business where individuals matter as, said
on their flyer. Its a small class community where you have social/academic connections
to the School of Business like advising, events, clubs and etc. It provides research skills,
friendship, teamwork, collaboration, and interesting discussions on ethical business issues
and practices. Its an introduction to business concepts and the global economy with
participation and leadership learning community, which help you become a
superior/successful businessperson.
There are general rules and concepts that are applied in the accounting world.
They are known as accounting's principles and guidelines. These are the basics that will
help you understand accounting in a more complex view. The Financial Accounting
Standards Board (FASB) uses the accounting guidelines and principles as a basis to make
their own detailed rules and standards. A phrase "general accepted accounting principles"
(GAAP) consists of three important sets of rules: 1- the basic accounting principles and
guidelines. 2- the detailed rules issued by FASB. 3- the generally accepted industry
practices.

There are multiple accounting principles that go into financial statements that the
businesses put out for the public. They need to make sure that the financial statements
abide by all principles. They need to make sure that all transactions are recorded in a
manner that is readable to all investors. The financial statements need to include whether
or not the business are going to exist long enough to complete all the businesses goals
and objectives, this is known as Going Concern Principle. There are more principles
similar to the Going Concern Principle that are just as important and more then crucial to
the financial statement.
When accountants generate financial reports, they have certain expectations of the
information they present. The information needs to be reliable, verifiable, and Objective.
There needs to be consistency in the accounting information as well as comparability.
These accounting guidelines and principles are a huge impact and influence on financial
statements and how they are presented to investors, other business, co-workers, and other
accountants. Having financial statements abide by these guidelines and principles will
help businesses with investment and credit decisions.
Accountants do more than just crunch numbers; they make sure that business's
financial statements are properly recorded. They make sure that records are accurate and
taxes are paid for on time. They perform overviews of the financial operations of a
business in order to help make sure businesses are running efficiently. Accountants have
a huge responsibility with business. They examine statements to ensure accuracy. Makes
sure that statements are records comply with guidelines and principles. Making sure that
taxes are paid for properly on time. Finding better ways to help business exceed.

Based on your educational degree you can work in the accounting field. The
higher your degree of accounting is the more responsibility you have. Most company's
require and ask that accountants have their CPA (certified public accountant). With your
CPA there is a higher rate of employment. Many accountants specialize, depending on
their client's types of needs. Accountants can range from public accountants who fulfill
broad accounting needs to Government accountants who maintain records and
transactions for the government.
After doing an observation, accountants-to-be found in the Spencer Eccles
Business Building, seem to have a high sense of purpose. The majority of those people
being watched, going in and out of accounting/business classes, were generally viewed as
upbeat, respectable, goal oriented people. Everyone had a destination to reach, and
nobody was wasting any time getting there. These people are motivated and goaloriented. Within the major all the people used a very useful tool, time management. Not a
person in sight seemed to have a second to spare, yet, no one seemed rushed. This
insinuates that this major is very time consuming and it is not meant for everyone by any
means, but those who strive to succeed in this major, will have a pretty comfortable life
for the most part.
The majority of those found in the Business building also seemed to be further
involved and passionate about their major. However, many were seen nonchalantly
leaving class early and you could tell these were the freshman or sophomores taking
generals or other auxiliary classes. In short it was very easy to tell who was passionate
and successful in this discourse and who was not.

That brings us into the most important aspect picked up during the observation,
the passion. This major requires your whole self, period. To major in this you must be not
only willing to do and learn what is needed to succeed but you absolutely must care and
have a desire to learn it as well.

Still a lot of work to do!