Future talk: educators, CPAs tackle challenges, opportunities.

• Author: Maragoni, Aldo
• Position: Accountinged - Certified public accountants

CalCPA recently assembled key accounting educators, select practitioners from top firms and accounting regulators to explore the challenges (and opportunities) the profession and our educational system face.

"We seek to gain a better understanding of the common ground and divergent views to forge a path for CalCPA to strengthen the role of CPAs in our society in the next decade," said Charles Osaki, co-chair of CalCPA's Accounting Education Committee, which put on the Educator Practitioner Forum-Pathway to Excellence.

CalCPA Chair Greg Burke, who's made accounting education one of his term's key initiatives, said his hope is to "provide financial and human resources to address the growing shortage of accounting educators."

Other aspects of initiative include:

* The CalCPA Fellowship Program, which will provide financial resources to California colleges and universities to attract and retain Ph.D.s.

* CalCPA member involvement in accounting programs, such as serving on accounting department advisory boards.

* Identifying opportunities for CPAs to teach in colleges and universities, and providing necessary training to make the leap from CPA to instructor.

Practitioner Perspective

The forum's first two sessions focused on practitioners' thoughts on the biggest challenges facing the accounting profession and, in terms of knowledge, skills and abilities of students entering public accounting, what area is in the greatest need of improvement?

Panelists discussed ideas from spotlighting accounting careers in high school to generational differences between young CPAs and their more experienced counterparts.

"How do you connect the millennial mindset regarding work/life balance, etc., with client expectations?" asked Philip Holthouse, a partner at Holthouse Carlin & Van Trigt LLP. "There's a mismatch in what partners think is hard work and what millennials think is working hard."

The move to International Financial Reporting Standards also was cited as an important issue.

"Lots of education is needed in this area," said Jeff Pearson, CPA, partner with Burr, Pilger & Mayer LLP. "It's a huge monster out there for the profession."

Among the knowledge, skills and abilities accounting students should have upon graduating, panelists cited analytical thinking, written communication skills, technical accounting knowledge, problem solving skills, research skills and high ethical standards.

"Analytical and critical thinking is absolutely essential," said...