Karson Merrell 8:30 Jacobs

PURDUE UNIVE
RSITY

Disciplinary Report: Accounting

Disciplinary overview

Accounting is an extremely old discipline, which makes up the foundation of business. The history of accounting is as old as civilization, key to important phases of history, among the most important professions in economics and business (Giroux). Accounting is a way for any type of organization to manage their funds and record keeping. Accounting gives order to [Accounting is] among the finances of a company, which always the most important the organization to monitor the funds professions in economics that go in and out of the accounts. With a and business (Giroux). degree in accounting the possibilities are endless. Graduates of accounting are hired in the areas of finance, banking, public accounting, forensic accounting, tax accounting and auditing. There are many different fields that accountants can work in that all make a variety of salaries. Accountants salaries range from twenty-nine thousand five hundred dollars to sixty-two thousand five hundred dollars. The field of accounting will only be growing with the complexity of tax law, accounting rules and future globalization. Although accounting is an old profession it is still in high demand for our increasingly business orientated world.

Useful Links Indiana Certified Accountantshttp://www.krannert.purdue.edu/

http://incpas.org/

Purdue Krannert School of Management-

Disciplinary overview..............................................................................................2 Useful Links.................................................................................................3 Ethnography................................................................................................4 Tax Accounting- Management 504.....................................................................4 Professor Profile..........................................................................................5 Dr. Jason W. Stanfield- Lecturer at Krannert School of Management..................5 Upperclassman Interview............................................................................6 Kirk Beachy........................................................................................................6 Professional Interview.................................................................................8 Jonathan Eller.....................................................................................................8 Reflection..................................................................................................10 Works Cited...............................................................................................10

Ethnography
Tax Accounting- Management 504
Two minutes before the class starts and no teacher was to be found. I am sitting in the back row next to a group of guys who seem to all be friends. The group of guys are in the back two rows in the window-less Rawls Hall classroom. They are all fourth or fifth year accounting students who are getting a little nervous about the class. They are discussing their plans for that Thursday night, most of their plans consisted of studying for next weeks test. They discussed the plans until they all agreed to meet up with each other to study the material. I carried on a short conversation with a fifth year senior eating Doritos and drinking a Peace Tea. I asked him if he was planning on taking the CPA exam. He replies with all the hours I have taken, I better, with a smile on his face. He tells me that the Tax Accounting, Management 504; is one of the hardest classes he must complete on his journey to be a CPA. He also told me that by the time you become a fifth year senior you get to know a lot of the other students in the accounting program. They have become friends and study partners. Dr. Stanfield comes in and opens his PowerPoint presentation. I approached the front of the classroom, which has a whiteboard and a computer podium. I asked the teacher if I can observe the classroom, he agreed. He said I could ask him questions after class, only after all the students have had a chance to ask their questions. The subject for todays lesson was tax shelters, which is a very advanced tax concept. This meant that I did not understand most of what the Dr. Stanfield said. Although the class had advanced concepts the teacher used humor to make the class laugh. At one point a student raised his hand to answer a question, but was way off base. The professor used this opportunity to bring some laughter to the class. The students were looking around trying not to laugh at the answer; the professor just replied Umm how does that answer my question? This made the entire class burst out in laughter, but it was all in good fun. The class ended with the students being let out early, this did not seem to be the case though. A majority of the students stayed after to ask Dr. Stanfield questions about the homework and test. This showed just how

hard the class was. I had to wait around for another fifteen minutes until it was my turn to ask Dr. Stanfield.

Professor Profile
Dr. Jason W. Stanfield- Lecturer at Krannert
School of Management

Dr. Stanfield runs his classroom with a relaxed atmosphere. The lesson for the day was on tax shelters, which seems pretty boring; but Dr. Stanfield made the class interesting. He joked about having a golf cart business where he would try and do illegal tax shelters, which made the whole class laugh. Dr. Stanfield is a Boilermaker through and through, he is native of Lafayette and a Purdue graduate. He graduated from Purdue in 2001 with a BS in Management. He went on to get his MBA from Ball State in 2007; He finished up his education with a PhD from Purdue in Management. Inbetween getting his three degrees he worked numerous jobs in the private sector. I was given the opportunity, after his students to stopped asking questions; to ask him a few questions regarding his career and advise for incoming freshman.

The first question I asked him was weather he had any other professional pursuits. He replied, just accounting, which is understandable with just completing a PhD and having a newborn baby daughter at home. Dr. Stanfield deserves a little break, but never the less he is still very involved. He is the faculty advisor for the Beta Alpha Psi accounting fraternity and the Purdue Accounting Association. He not only teaches Tax Accounting but also Accounting Information Systems. I also asked him what he would encourage incoming accounting freshman to become a part of. He recommended, to no surprise; Beta Alpha Psi and The Purdue Accounting Association. He also recommended attending a career fair before you even start looking for an internship, so you are not nervous when it really matters. The last thing he recommended was to attend professional events whenever you have the chance. I then asked Dr. Stanfield his opinion on internships and studying aboard. He said that internships are very important because they are your first real glimpse into the business world. His stance on studying aboard was different than what I had heard before. He said it is a good thing to do unless you are really against it then it is not worth it. The last question I asked him was how to separate myself from the rest of the students. He said, Being in clubs, but not just being in then actually putting on events. Dr. Stanfield also said that a good GPA will separate you from the rest. Dr. Stanfield is very astute accountant that is easy to talk to talk with. He demonstrates his laid back demeanor in the classroom when he jokes around with them. The specific information he gave me makes me want to pursue a degree in accounting. It has brightened my outlook for the next five years here.

Upperclassman Interview
Kirk Beachy
One interesting fact about Kirk is that I looked at my prospects his older brother, Brandon Beachy; is a and didnt really know starting pitcher for the Atlanta Braves. Kirk what I would do with a is hoping to go professional in a different field. Kirk Beachy is a senior in the psychology degree. Krannert School of Management. After this semester Kirk will have completed well over one hundred credit hours. He not only has a major in accounting but

also a concentration in finance, which is common for accounting students. Kirk will have an internship at Dauby OConnor and Zalski, LLC (DOZ) next semester. He will return for a fifth year, after which he will sit for the CPA exam. Kirk did not always think he would be an accountant, his first major was psychology. After reviewing what he would actually with a psychology degree he changed his major to accounting. I looked at my prospects and didnt really know what I would do with a psychology degree. Kirk changed after taking Management 200 to get his feet a little wet and because he had taken high school accounting classes and enjoyed them. Kirk recommended that students study aboard, although he did not; he wishes that he had taken advantage of the opportunity. He also recommended becoming involved in clubs such as Beta Alpha Psi and Purdue Accounting Association early on, I would encourage you to get involved in clubs, but to also gain leadership positions in the clubs. That way you will have something to talk to recruiters about. He told me that the best time to look for an internship is sophomore year, the earlier the better. The career fairs are the best place to look for an internship. Kirk most beneficial classes were Management 350 and 351 and his hardest classes were Econ 419 and Stat 225. The number of credit hours he takes averages seventeen. The amount of studying he does for those seventeen hours changes from week to week but the average would be about ten hours. One thing Kirk wishes he would have done differently is to have planned out his course of study when he was a freshman. Kirk plans on passing the CPA exam in 2013 and working in public accounting after he graduates. Kirk taught me that

it is never to early to start planning out your plan of study and that networking is key.

Professional Interview
Jonathan Eller
Jonathan Eller is your typical accountant and family man. Jonathan has balanced work and family very well. His wife Vicki just gave birth to their third child two weeks ago. Jonathan has one son and two daughter. His wife is a school teacher, when she is not on maternity leave. Jonathan and his family are very involved in their local church, he is the treasurer for the church. Although, Jonathan had not taken any classes in accounting in high school, he decided to try some at Manchester and enjoyed them. Jonathan graduated from Manchester College with a Bachelors degree in Financial Accounting in 2000. He continued his studies at Manchester and received his Masters of Accountancy in 2001. Jonathan did not waste any time and I always liked playing became a certified public accountant in around with numbers 2001. I asked Jonathan why he and statistics became an accountant and he said, I always liked playing around with numbers and statistics, plus I was good at and enjoyed math. I knew people could make a decent living at it and being a CPA would give me lots of options in life. After graduating he received a job at Bucheri McCarty & Metz, a public accounting firm in Kokomo, IN. He later grew tired of the public accounting because of the amount of salesmanship that is involved. Jonathan is currently working at Merrell Bros. as the Accounting Manager. His weakly responsibilities involve paying the bills as well as doing the payroll for the company. Each quarter Jonathan has to compile the financial statement for each division of the company to give the management a better understanding of how they are doing. At the end of each calendar year Jonathan must help an outside accounting firm review Merrell Bros. books. He must also make the annual reports and renew various state registrations.

Jonathans experience and knowledge of accounting helps him in his career. I asked him what if what he learned in college helps him in his job now, A lot of what I learned in college prepares you for the CPA exam, which prepares you for a career in public accounting. There is very little time spent on private industry things, and then only on what would be on the CPA exam. Obviously understanding how an accounting systems operates and the components of a financial statement are things I use every day. But a lot of what I do doesnt relate to what I learned to college. Jonathan's degrees in accounting have given him the understanding to allow him to do his job effectively. Jonathan told me to, Take the networking opportunities youre presented with seriously. You never know when you may need to use a contact. Be as well-rounded as possible and try lots of new things, because when you get out of college your opportunities are more limited. Obviously you need to succeed academically because theres a basic level of success all employers look for, but they look for people who are well-rounded and can relate to other people well. Jonathan stressed that networking at college is very important because you will use those contacts even after college. Through my interview with Jonathan I have learned that understanding how the accounting system works is the key to doing well in a career in accounting. I have come to understand more of what an accountant does daily, quarterly and yearly. I have also learned to take advantage of networking opportunities while here at Purdue. I hope that I have learned how to balance family and work as well as Jonathan does.

Reflection
I became interested in accounting when I was sixteen years old for two different reasons. First, I went through Dave Ramseys Financial Peace University, which is a crash course in personal finance and investing. This course really changed my life. I became interested in personal finance and investing. Dave Ramseys course relieved the power of compound interest to me. Second, my high school accounting teacher was very friendly. He taught me to love accounting and helped grow my passion for the discipline. I wanted to do something that involved my love for numbers and to do something I enjoyed. I believe that accounting is the right field for me. Talking to three different people that had the same interest in accounting that I did allowed me to learn some important lessons. Being able to not only sit in on an upper level class in my discipline but also interview a professor, student, and practitioner, has strengthened the opinions that accounting is right for me. While sitting in on my upper level class I barely understood a thing, but that made me only want to understand accounting more. Through creating this brochure I have realized how much of a challenge lays ahead of me, but I think it will be worth it. The course requires five years of schooling, which includes a semester internship. The program is a perfect fit for my career. The internship allows you to gain real world experience in the business community. I have started to lay my five year schedule, which looks hard but challenging. My only backup plan would be to major in Management, which would be a little bit easier. This plan b would not set me up for the Certified Public Accountant exam, which is why it is my second choice. At the moment my current choice looks promising.

Works Cited
Giroux, Gary. Mays Business School. Texas A&M University, Web. 22 October 2011

<http://acct.tamu.edu/giroux/history.html> Quigg, Bridget. Payscale. Payscale Inc, Web. 22 October 2011 <http://www.payscale.com/research/US/Job=Accountant/Salary>

Picture Citation
Accounting. Boston.com. Web. 18 October 2011. http://www.boston.com/jobs/ galleries/industry_accounting_and_finance/ The Dollar Bill. 8 September 2010. Pictures for Presentations. Web. 22 October 2011. <http://incogman.net/wp-content/uploads/2010/12/dollar-bill.jpg> Dr. Stanfield.Krannert at Purdue. Web. 18 October 2011<http:// www.krannert.purdue.edu/directory/bio.asp?username=jwstanfi> Eller, Sarah Gale. Jonthans Family. October 4, 2011. Facebook. Web. 22 October 2011 <http://www.facebook.com/photo.php bid=10150396860545709&set=t.743810708&type=1&theater> Gaskins, Bryan. Brandon Pitching. 14 July 2011. Kokomo Tribune. Web. 20 October 2011. <http://kokomotribune.com/sports/x202392257/Beachy-likes-Bravessecond-half-outlook> Silva, Yasin N. Krannert Logo. Public.com. Web. 16 October 2011. <http:// www.public.asu.edu/~ynsilva/> Williams, Huw. Rawls Hall. 7 September 2008. Wikipedia. Web. 22 October 2011. <http://en.wikipedia.org/wiki/File:Rawls_Hall,_Purdue_University.png>