MAC Program Update

Students in the NC State Jenkins Master of Accounting (MAC) program this fall took up a project that is particularly relevant in today's chaotic economic environment - personal financial literacy. The project - a semester-long assignment in their Managerial and Career Effectiveness course - was open-ended; meaning, the student teams were free to decide how they would approach the topic and how they would get the word out about its importance.

The students had the support of their professor, Kathy Krawczyk, as well as more than a dozen Triangle-area accounting professionals – members of the Triangle chapter of the North Carolina Association of Certified Public Accountants (NCACPA) and the Young CPA Cabinet who served as their mentors for the project.

In an article announcing the program this fall, one of the mentors, Mark Soticheck, said, “This is our first time partnering with a university on such an effort to promote financial literacy. Without a doubt, this is our greatest outreach effort. It is something that everyone on the cabinet is passionate about.” Soticheck, a CPA, is audit manager with the regional accounting firm Dixon Hughes PLLC and a member of the NCACPA and the Young CPA Cabinet.

Their message came through clearly as the teams reported on their projects to their professor and mentors:

• Their business education has given them a real edge compared to their peers across campus.
• They were interested in learning
• The team members saw great value in sharing their knowledge with others.

And share they did. The 11 student teams presented financial literacy workshops to students in fraternities, sororities, student organizations, residence halls, graduating seniors in the Air Force ROTC, and a Raleigh-area organization that serves battered women. The turnout at some of the gatherings was small, but those who attended asked lots of questions, and some of the team members said they already have plans to go back to their audience groups with more information, and would be willing to continue on their own.

One team’s presentation has gone virtual. They created a Financial Literacy – Budgeting and Savings video and posted it on YouTube.

Another student team conducted a financial literacy survey before putting their presentations together, to see how much their peers knew about the topic. A writer at the student newspaper, the Technician, wrote a story about the survey for the paper’s business section. Katie Crane [top photo, right] presented a summary of the survey results to the mentors attending the students’ final class presentations on their project.

Interested in testing your own financial literacy? The quiz is now available for the use by the general public. This is a very basic assessment of personal financial knowledge. You are welcome to pass this link along to others – particularly high school and young college students – who may wish to test their knowledge and to help start a conversation about personal finance.

One of the students’ professional mentors, Jim McCoy, commended the teams on their projects, adding, “They certain did an incredible amount of work for a one credit-hour class.”

In addition to the Managerial and Career Effectiveness course, the accounting department faculty has developed new courses for a new MAC program concentration in Enterprise Risk Management (ERM). Students in the ERM concentration will take two business management courses in the risk management area with wide application to accounting issues, such as internal controls, risk measurement, use of derivatives for risk transfer, and one in Enterprise Risk Management. Students will also choose an approved MBA elective for their second course. This concentration provides an excellent foundation for students interested in risk advisory services as well as traditional tax and audit staff positions. The MAC program also has an IT concentration.

Alumni Provide Valued Support

MAC alumni and the program’s other colleagues in the profession continue to be strong supporters of the program, by hosting ‘Meet the Firm’ events for incoming students, providing internships and supporting fellowships and scholarships for our students. This fall, alumni and other friends in the accounting field joined the college’s accounting faculty and students for the annual accounting banquet. Bill Gradison, founding member of the Public Company Accounting Oversight Board (PCAOB), gave the keynote presentation.

MAC students and alumni have also been participating in MBA-MAC Alumni Networking events and MAC-specific networking opportunities throughout the academic year. This interaction helps students make the transition to their professional careers. Frequent interaction with the program also helps assure that the curriculum is providing the preparation that today’s professionals need to make a difference.

Program Leadership

• Director: Kathy Krawczyk
• View the MAC Program and MAC Career Resources Directory

Stats

• Fall 2008 Enrollment: 87 full-time; 3 new part-time; 4 second-year part-time

• May 2008 Graduates:

• Career Placement: 95% of 87 fall 2007, spring and summer 2008 graduates, 3 months after graduation

• Ranking:
  Public Accounting Report 2008: 27

Dig Deeper

• MAC Students Launching Financial Literacy Program
• Test your Knowledge with the NC State Jenkins MAC Students’ Personal Financial Literacy Quiz
• A Sampling of Financial Literacy Fun Facts
• 17 MAC Students Receive Fellowships
• Accounting Students Honored
• MAC program
• Department of Accounting Update
• Enterprise Risk Management Initiative

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