• Bridging the Gap in Accounting Education and Application through the Development and Use of Soft Skills

      Hettler, Barry; Gullo, Megan; The College at Brockport (2019-05-20)
      I explore the development and use of soft skills in the accounting profession, and how these skills can bridge the education gap. Understanding the development and use of soft skills leads to conversations about the need to modernize accounting education, and how to achieve it. I focus on answering my research questions which include how to develop soft skills, and the usefulness of these skills in the accounting field. My research supports the need for change in accounting curriculum and how this curriculum is taught to students. Both professionals and educators acknowledge the gap in accounting and believe a change in how accounting is taught is necessary. Both also agree that soft skills are just as important, if not more important, than technical skills in the accounting field. My recommendation is to implement more active learning into accounting curriculum. Integrating this type of learning will better foster both the soft skills and technical skills that students need. Readers can hope to gain a better understanding of the skills necessary to succeed as an accountant, and how those skills are developed in higher education.
    • Exploring Revenue Recognition in the Local Community

      Hettler, Barry; Forshay, Taylor (2017-05-02)
      This thesis studies the extent to which the business community in general, and local community in particular, is ready for the new Section 606 Revenue Recognition accounting standards that come into effect in 2018. This paper first includes a comparison of the old standards and the new standards for revenue recognition. It also identifies improvements to the revenue recognition process because of implementing the new standards. Second, it examines the results of a national survey done by Pricewaterhouse Coopers and the results of an original local survey to determine the preparedness of the national business community and local community, respectively. Finally, this study also identifies the results and impacts of early adopters of Section 606, and identifies implications for the future of the accounting profession. The results of this thesis show that the business community does not appear prepared for the upcoming implementation of Section 606. The PwC survey indicates that many firms are still assessing how they will implement the new standards, and are yet to choose an adoption method. The lack of responses to the local survey may imply that the local business community has not spent sufficient preparing for the new standards. Only a few early-adopters of Section 606 were found, meaning that only a small number of the largest firms in the country have actually implemented the new standards. Overall, the adopting companies and their auditors appear to be severely underprepared for the new standard.
    • IFRS at Rochester?Area Institutions: Are Professors Prepared to Teach?

      Ziolkowski, Michael F.; Dorman, Amy; The College at Brockport (2012-01-01)
      I studied the preparedness of accounting professors in the Rochester, New York area related to teaching International Financial Reporting Standards (IFRS) in accounting courses at their institution through a survey of educators conducted during December 2011. I found Rochester?area college professors responded that overall college professors are not prepared to teach International Financial Reporting Standards nationwide with a total of 69.23%. Professors are more prepared by a slim margin in the Rochester?area institutions with a total of 57.69% professors responding that their own institution was prepared to teach International Financial Reporting Standards. Based on experience, professors with less experience, whether as a professional or professor, believe more so than more experienced professors that both nationwide and institutionally college professors are not prepared to teach IFRS. Male and female professors both agreed that nationwide professors are not prepared to teach IFRS. However, institutionally, 6 out of 7 males (85.71%) were more confident in their own institutions in the Rochester?area, deeming their institution prepared to teach IFRS, while 5 out of 7 females (71.43%) believed their institution was not prepared to teach IFRS. I found no differences among preparedness based on institution type (public vs. private). Overall, my study provides evidence regarding the state of local accounting professors’ readiness to prepare students for a global economy using IFRS as a standard for reporting.
    • Overcoming Tax Obstacles of Low Income Taxpayers

      Smoker, Kari; Sawyer, Allison; The College at Brockport (2013-05-13)
      The tax season can often be overwhelming to some taxpayers, especially low income taxpayers. Some taxpayers file a tax return themselves but often times they go to paid preparers. Low income taxpayers are often taken advantage of when they go to a tax preparer during the tax season because of their lack of financial literacy. This lack of knowledge can cause them to not receive the correct service or even become victim of fraud. The IRS has realized in the past that low income taxpayers needed more financial support so it created the EITC and other tax credits. To help low income taxpayers, the IRS is continuing to improve the services offered by VITA sites and reduce the amount of tax scams by paid preparers. Low income taxpayers need to understand their options and go to the best tax preparation site that will benefit them during tax season.
    • The Effects of Changing AIS on User Experience and Business Role

      Neely, Pamela; Tornow, Elysia; The College at Brockport (2015-05-08)
      Technology has become a dominant factor in many aspects of modern life. This research explores how technology has influenced the field of accounting through the advancement of Accounting Information Systems (AIS). To address the issue of the qualification of students entering the accounting profession, two populations were surveyed. Students who were previously enrolled in an AIS class at SUNY Brockport were surveyed about their comfort level with AIS before and after the class, along with their outlook on technology in the workforce. Accounting professionals were surveyed on their usage of systems in their companies, their preference towards change, and their first-hand accounts of changing technology in the workplace. The results of this research shows that while having an AIS class significantly helps prepare students for the real world, there are ways to improve the course content to provide even better professional candidates. To be successful, students must achieve a foundational grasp on system usage the same way that debits and credits are a foundation to the whole accounting cycle. Students should be exposed to a multitude of different accounting software so that they learn to move beyond “point and click” to a stage of analysis that will allow them to adapt to whatever systems they see later in their careers. For this to occur, either a second AIS class would be required, or a whole new major should be added, focusing on the importance of AIS. In the professional world, the changes in technology and AIS are causing restructuring of both the company structure and the human resource usage. Soon the new-hire data entry position will be obsolete as computers take over and the whole process becomes automated; thus ushering accounting into the age of analysis and forecasting as opposed to book keeping and data entry.