Accy. students gain insight to future

EBONY HATTIX
DM Staff Writer

Arthur Bowman, a nationally recognized accounting authority, spoke to students about the future of accounting Friday.

"Communication and writing skills are essential tools in becoming a good businessman," Bowman said.

The focus of the lecture was to view opportunities of firms and to give information on where accounting is headed in the future. "Shooting yourself in the foot" was a term Bowman used to describe accounting firms bidding on completing audit for large companies, which drives fees down. Though the accounting profession is producing profits and functioning well right now; he explained that agencies are beginning to invest in future technologies and training. He discussed that in 1988, eight of the biggest accounting firms became known as the Big 8. Through mergers and such, it has been reduced to five. The Big 5 includes Arthur Anderson, Deloitte and Touche, Ernst and Young, KPMG, and Price Waterhouse Cooper. Each firm is equally known and offers a myriad of services. In depth, Bowman explained his prospective on the companies and their incentives. One fact that stood out among the rest is that Arthur Anderson, headquartered in St. Charles, Ill., uses seven percent of its revenues to train employees, whereas others spend one percent. Many of the companies have two divisions: the accounting and consulting branches of their firms.

Approximately, 75 students and faculty attended the event Friday.

Bowman spoke passionately about accountancy, and the path in which is it going.

Bowman has been involved in accountancy for many years. He has experience in journalism, and produces the "Bowman Report." Bowman travels all over the country in service of accounting.

The attending accounting students gained knowledge of the weakness of the accounting firms.

"This was an enjoyable and relevant lecture," said Caryl Boston a student who attended the lecture. "The lecture was interesting and relates to my major. It gave me an idea as to what to look for in a firm before I just jump right in."

Bowman offered advice to the student pursuing a career in accounting.

"When you seek a career, find one you enjoy. The biggest paycheck is not always the best job," Bowman said.