Academic Disciplines - Different Methods of Teaching of Finance and Accounting - Coursework Example

id: ACADEMIC DISCIPLINES It is a matter of fact that different academic disciplines have different methods of teaching, understanding and building knowledge, different methods of presenting information and different ways of analyzing the information. The thesis statement of this research paper is as follows The following research report aims at understanding of how writing, reading, and researching operate within accounting discipline. The research progresses in this topic based on the analyzing one scholarly article, analyzing one trade publication, conducting interview of a person who teaches this discipline and conducting interview of another person who works in this discipline. Analysis of at least one scholarly article from that discipline The present generation is characterized by long list of accounting scandals. However shameful the figure may be there is no denying the fact that the list of accounting scandals has increased day by day (Markham 21). The regulators, auditors all have failed in their duty and the status of an accountant and his reputation has been looked down upon. The present paper deals with the role of forensic accountant and how can they prevent the onset of a future scandal. The paper states that accounting frauds and scandals are constant for all time and era. They have occurred in all the countries of the world and have affected many organizations irrespective of their sizes, location or the industry that they are located in. The list of scandals starts from Enron and WorldCom in 2001 to Mad off and Satyam in 2009 (Bhasin 11). The matter of fact is that accounting scams over the world has dominated the headlines of the newspapers over the world. The corporations and regulators bodies over the world are trying their best to analyze and correct existing defects in reporting system. After reviewing the fraud mechanisms in different countries over the world specially India it has come to the forefront that the fraudsters in different countries specially India have become tech savvy and are inventing newer schemes to perpetuate crimes. Forensic accountants are thrown to the ‘forefront of the crusade’ against financial dishonesty and deceptions. The present study does investigation through a questionnaire. The questionnaire is conducted in three leading steps of National capital region on India during the period 2011-12. The questions that were asked were used to identify if there were differences in view regarding the skills that are required from a FA. The researchers concluded that the core skills are not enough requirements for FA and there exists significant differences in relevant skills. The researchers also conclude that Forensic accountants having sixth sense and possessing special skills are urgently required to counter different crimes and scams in this regard. Analysis of the scholarly article says a lot about how researches are conducted in accounting discipline. Next in line of the research paper one has to analyze a trade publication related to the accounting discipline. Analysis of at least one article from a trade publication related to that discipline After analyzing the scholarly related to the accounting discipline as the next step the task is to analyze a trade publication related to accounting. Among the various dimensions of accounting in general and management accounting in particular risk management is an important aspect and the following article related is related to this aspect of management accounting by looking at how to manage risks that arise due to high scale use of technology. The present generation is a tech savvy one with the use of gadgets and gizmos increasing at a rapid scale. The use of latest technologies provides tremendous opportunities for businesses while they deal with tech savvy customers. This can lead the company to high levels of growth. However there is a problem with web connected things that demands newer risk management techniques that needs to carefully designed and carried out to prevent the risks that may arise out of the use of web connected things. The report of the above name that has been brought out by global IT trade association ISACA highlights the fact that are web connected devices that are present at every places around us starting from smart watches and internet enabled cars to the more innocent and less suspecting devices such as the smoke detectors (Tysiac, 2015). ISACA president also highlights a matter of concern that is since the internet has spread so far and widely there may be many a devices which the organizations might be using but may not be aware of the risk factors that are associated with the devices and so may not utilize the risk management stakeholders and the potential risk factors may go unmonitored. The internet of things which the report talks about is a collective term that is used for all the articles and objects that have networking components inbuilt and can communicate with other objects over the internet. There are several objects that are used by the consumers and industries that fall under this category. Although use of internet of things by industry can lead to significant improvements of efficiency and the internet of things that are focused on customers can lead to and provide many convenient and helpful features, there are several risk factors that are associated with internet of things that must be taken care of. The potential risk factors may be in the form of hackers stealing their way into the system and disrupting the general functionality of the systems. With the above risk factors in mind ISACA’S report finally proposes several questions that the company should ask before implementing internet of things. After analyzing the scholarly article and trade publication from accounting discipline one gets an idea of how research is conducted in accounting and what are the current issues gripping the discipline. As a next step to understand how the discipline is taught to students and how information is preached the next paragraph briefs about an interview of a professor teaching the discipline. Conduct an interview with a person who teaches major courses To understand how accounting is taught an interview is conducted with Professor Charlie Bokemier. Mainly 5 questions were asked to the professor. The first question that was asked was what the professor found interesting about accounting. The professor’s reply was that accounting is a discipline which is always evolving and changing. This challenge in the subject is the fact that drew him to the subject. Also the fact that accounting helped someone in understanding financial statements and helps in doing the business better attracted him towards the discipline. His answer to the second question regarding challenges faced by students in studying the discipline he felt that the most important challenge is that to learn accounting one has to spend a lot of time on it. Considering that it is not an easy subject the important point is to solve questions and understand the same. He felt that in order to succeed in accounting it is not enough to graduate in the subject but the capability of picking up a document and finding something new and helping client’s business to be successful. The accounting is an always changing field and so the need is to always prepare for that changing. The Professor said that in order to identify individual differences he helps the students in carrying out weekly meeting on issues that affect the class. The issues that arise out of the discussions are then collectively solved and the solutions implemented. The response thus derived is normally received positively. After conducting interview of a professor teaching accountancy one understands how the subject is taught to the students and what are the challenges in learning the subject. Next the research leads to the questionnaire of an accountant to understand the challenges and benefits that an working professional in this discipline faces. Conduct an interview with a person who practices in a field related to that discipline To understand the minute details of the accounting discipline and interview was conducted. In this interview questions were asked to Tao He who graduated from Chongqing University and is currently working in Taiyu real estate Co Ltd as accountant and managing director. As part of the interview 6 different question were asked to Miss Tao. The first question involved asking Miss Tao about the probable factors that could have been the reason behind her choosing the accountancy field. Miss Tao felt that accountancy provides a much appreciated professional qualification and people choosing this discipline sees before them doors opened towards a wide variety of business opportunity. She felt that there may be various reasons why one would go on for choosing accounting as the profession and the particular reason why an individual would go on for choosing this discipline cannot be said exactly there are several reasons that can provided behind preference of this particular profession. Miss Tao says that she choose the career as she felt the career to be exciting, dynamic and challenging. Another fact was that the discipline and the profession involves a lot of travel and the tests the height of their ability. When asked about her choice of the university she said that for her the deciding factors were teaching quality, cost factors, institute’s reputation, individual staff members and geographical factors among the factors for consideration. When asked her about the qualities that she has which makes her a competent accountant she replied that the skills which she has and which makes her a good accountant are numerical ability, interpersonal skills, self discipline, determination, interest in the world of business. In addition to this she said that she had good communication skills, analytical skills, ability to work in teams and curiosity. When asked about how she limits errors in her work, she said that she knew that since she was working in an important discipline even minor errors can cause immense financial losses for the company. In order to minimize the occurrence of error she said that she reviewed her work several times over before she actually submitted the same. She said that she has also established a system of balances and checks. When asked about the areas where she showed determination she said that it was when she worked with teams or was handling pressure situation, while she made difficult decisions and dealt with unreasonable clients or colleagues. When asked about her greatest achievement till date she reminded of an old case in 2001 when she got award for auditing under pressure funds that were managed by her boss who was accused of mismanagement. After analyzing in the course of this research paper the various aspects of the accounting discipline, one forms a general idea of how the accounting discipline is written about, reported about and researched about. The first part of this research paper that is analysis of the scholarly article talks loads about how researches are conducted in the field. The second part that is analysis of the trade publication talks about the current issues gripping the topic. The third part of the report talks about the interview with a professor regarding how the course is taught to the students and what are the challenges faced by the student taking up the discipline. The forth part of the report talks about the interview of a professional accountant in order to understand the challenges faced and his qualities expected out of an individual to sign in the discipline. Works cited Ken Tysiac. How to manage risks connected with the “internet of things”. 2015. Web. 9 February 2015. < http://journalofaccountancy.com/news/2015/jan/manage-risks-internet-of-things-201511705.html > Bhasin, Madan. “An empirical investigation of the relevant skills of forensic accountants: experience of a developing economy.”European Journal of Accounting Auditing and Finance Research. 1.2(2013):11-52. Print. Markham, Jerry W. A Financial History of Modern U.S. Corporate Scandals: From Enron to Reform. 2006. NY: M.E. SHARPE. Print. Read More