Data matters. That’s why Indiana University staff have always paid attention to an increase or decrease in enrollment and majors. Renee Rerko, Executive Director of Enrollment Management & Academic Planning, says that when data showed that accounting numbers were decreasing, people were concerned. Currently, however, concern is dissipating because the data now shows that there is a surge in interest in accounting credentials as well as increased enrollment in the accounting major.
“We were at 1,500 and now we’re at 1,900,” says Rerko, noting that when studying data, they never compare fall to spring but rather spring to spring. “So, 400 majors in a year is huge.”
That rise can be attributed to a number of factors, starting with an excellent faculty. Plus, the department has introduced the Accounting Workshops, including A313: Introduction to Careers in Accounting, which rose from 50 students in one semester to 220 students across four sections.
Another reason for the increased interest in accounting is that the department has identified both real and perceived barriers to majoring in accounting and has worked to remove those barriers.
“Kelley is so big that sometimes there are these urban legends that permeate the student body,” says Professor Bridget Stomberg. “One was that you couldn’t study abroad and major in accounting. That’s not true as roughly 40 to 50% of Kelley’s students study abroad.”
Changing from a three-semester sequential to a concurrent sequence makes it possible for a student to do both. While accounting majors still have to take 311, 312, and 450, if a student doesn’t get to 312 because they decided late, they could take that concurrently with 450.
“Even though few students are taking these two courses concurrently, it can be a two-semester sequence like most of our majors, and that’s making students feel this is more accomplishable in a timeframe that works well for them,” says Stomberg.
In addition, academic advisors are now being more transparent about the feasibility of double majoring in finance and accounting.
“Our academic advisors made it clear that when you do both, they highlight what students don’t need to take rather than outlining the extra things they do need to take,” says Stomberg. “That more positive spin makes it feel more attainable.”
Quite a few of Kelley’s students double major. In fact, the most popular combo right now is double majoring in Finance and Accounting with Business Analytics on the side (FAB). Students are made aware that such a path is possible without having to take extra time or give up their chosen electives.
IU’s Graduate Accounting Program (GAP) staff has done a tremendous job highlighting the benefits of getting a master’s degree in accounting as a continuation after earning their undergraduate degree.
“There are graduate opportunities that students can do here pretty seamlessly—particularly the 3/2 MBA program,” says Stomberg, noting that it’s another way for students who are quant or finance focused to get the supporting accounting skills that make them more marketable. The 3/2 program has experienced tremendous growth, especially this year.
“We’ve had one cohort as long as it’s been in existence, and we’re moving to two because we have reached a mass that’s significant,” says Rerko. “We’re seeing growth across all areas of accounting.”
Part of the reason for that growth is due to the department’s commitment to outreach. For instance, every fall they hold an Accounting Open House to attract students to the accounting major. The event, which includes faculty, advisors and career services as well as free food and games, is an opportunity for students to learn what careers they can pursue with an accounting major. In addition, the Accounting Department hosts A Seat at the Table where they invite students to interact in small groups with industry professionals.
There’s also the newly created Accounting Certificate Program, which gives more students the opportunity to learn about accounting. The impetus behind this certificate program came out of the Pathways Project for those students who didn’t get into Kelley but still want a pathway to business. Megan Ray, Director of Kelley Campus Partnerships, noted that while the Pathways Project works for most students, that’s not the case for accounting students.
Kelley had to develop a way to get those students the skills they needed to make them CPA ready.
“Students fall in love with IU’s community and then those who aren’t part of Kelley are put in this tough position of having to choose between leaving campus to become an accountant or stay here,” says Rerko. “This accounting certificate program offers the best of both worlds. They can stay at IU and have that great Big Ten residential experience while still pursuing their interest in accounting.”
The Accounting Certificate Program has proven to be popular. In the spring, it attracted 26 students across all majors. One was a student from the Jacobs School who received a scholarship for ballet. Despite her love of ballet, she’s planning to pursue a career in business, making the certificate program the perfect fit for her.
“She’s getting As in everything and doing amazing,” says Rerko.
“A handful of those 26 were never going to do Kelley, but after taking an accounting class, they liked the idea of doing this extra thing without having to immerse themselves fully in business,” says Stomberg.
In the past several years, the number of students who are pursuing direct admit to Kelley has been off the charts, but the admission requirements are high so the majority of them don’t get into Kelley through the standard admission process. Despite that hurdle, many of these students are still passionate about accounting, and this certificate program gives them a path to a possible career in accounting.
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