In an action packed trip students from the Department of Accounting were given insights into business and accountancy from some of the powerhouses of global industry and entertainment when they embarked on an International Accounting Study Program in the USA and Canada recently.
This program builds on a student?s university experience by undertaking visits to international businesses, regulators, professional offices, universities and government agencies. Students have the opportunity to learn about the culture and history of another country under a guided program.
This year there was a hectic schedule with 11 visits over 19 days in America to some of the giants of American culture and the pillars of America?s corporate landscape.
The students took some time to see the ?New York? street for the filming of Seinfeld at CBS Studios in Los Angeles.
In Los Angeles, the Chief Financial Officer of Walt Disney Studios provided a detailed outline of the costs and issues to be considered in the decision process about making a film such as Pirates of the Caribbean. One student remarked ?that he covered a whole semester in one hour!? Also in LA the students heard from executives of CBS Studios about the successes and failures and challenges in the modern world of a multimedia company. On the accounting profession aspect, the students also heard presentations by Pricewaterhouse ?Coopers in Los Angeles.
From LA the students travelled to Toronto where BMW Canada gave students insights into the market segmentation of the luxury car market and the driving forces behind a successful market initiative. Also in Toronto the Institute of Chartered Accountants gave an accountancy presentation and a presentation on business and social media was given by a consultant from Deloitte.
The students then returned to the US and travelled to Rhode Island and then to Connecticut where they were visited the headquarters of the American multinational conglomerate General Electric. A company ranked as the 6th largest company in the US by revenue in the Fortune 500. students were treated to a whole day of presentations ranging from investor relations, marketing positioning, accounting issues, tips on applying for jobs and opportunities for employment within the GE businesses across the world.
Also in Connecticut the students visited another world headquarters of a global industry powerhouse, this time IBM. Students attended presentations on the accounting issues of the day, investor relations, and objectives of the firm and streamlining of the IBM business model.
The students then travelled to the cities of New York and the nation?s capital Washington DC. In the Big Apple the students visited the Financial Accounting Standards Board and in DC they visited the Securities Exchange Commission (SEC).? At both of these institutions students listened to numerous presentations on the convergence process of the USA adopting the International Accounting Standards and the enforcement of companies complying with rules and regulations.
Also in DC, the group attended the Australian Embassy where a trade commissioner provided a question and answer session on the role of an embassy, the connections with business and government in relation to trade between countries. The spokesman also indicated that students with strong rounded knowledge of accounting have good employment prospects with the Department of Trade.
The American academic community also came out to welcome the students as they heard presentations by academics at the University of Southern California on the matter of earning management and business ethics and the University of Rhode Island on the convergence of accounting standards.
According to Warren McKeown, a teaching fellow at the Department of Accounting who accompanied the students on the program: ?This program provides a great deal of learning experiences that benefit students in many ways?.
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