Accounting Advisory Board

12.12

Tanya Stavreva

It was evident that the students had researched the selected companies, and put effort into choosing the products promoted. Several things that needed improvement in all presentations are discussed below.

Presentation Structure – the content of the presentations could have been organized more effectively. Although some groups grabbed the audience’s attention initially, there was a lot of background information that quickly drowned the pitch.

Practice – overall the groups gave the impression that the amount of practice may have been insufficient. The content covered by each speaker is as important as the transition from one to the next. In several cases, transitions resulted in pauses and a sudden switch to a different aspect of the material covered.

Product competitive advantage – In several instances it was unclear what the benefits of the product offered were, why it was better than existing alternatives, and what attributes would drive demand.

Financial background – This component is critical in capital raising initiatives and it received little attention in all presentations. While certain financial ratios such as D/E, asset turnover, TIE etc. could have been grouped towards the end, fundamentals such as sales, earnings, profitability etc. should have come earlier in the presentation and been emphasized, as these are very likely to influence investing decisions. Investors often place the highest importance on the financial outlook of the company.

All groups had very good timing to fit within the allocated time. The requirements were demanding and as a whole the students were able to present their arguments well.

12.11

Mark Anderson

The students had clearly performed very thorough research.

The Ethical awareness section evaluation criteria did not seem very relevant to the presenations. It should be noted that each group did comment on the ethical challenges facing the companies they analyzed. However, this seemed to be more of a requirement they were trying to meet than a natural part of the presentation.

It was difficult to hear a number of the presenters.

The evaluators could have been helped by: (a) having the format in advance, and (b) seating that had a writing surface (such as lecture auditorium seating) to facilitate note taking.

12.11

Leanne Melto

As being the only observer to have participated in presentations, it was amazing to me to see the vast differences. The presenters on Thursday evening for the most part were well prepared, spoke clearly and had a sense of confidence that I didn't see as broadly in the Tuesday evening presentations. As many had indicated from Tuesday evening, again I would consider capping the group size. Even though the presenters were allowed 10 minutes on Thursday that still is not very much time to allocate to up to 5 team members.

I think it is essential for the students confidence levels to bring a communications course into the course requirements for accounting majors. I know when I graduated from college, about 10 years ago, I was required to have at least one communications course in order to graduate. It was extremely worthwhile. One of the most effective parts of the course was that all presentations were video taped and one of our homework assignments was to watch the tape and critique ourselves. I still have that tape. Our industry, especially in public accounting, is driven off of client communications. It is essential that students are given the appropriate resources to strive once they enter the workforce.

12.08

Brian Gallagher

The students who were presenting information that they personally identified with were much more persuasive than those who were analytically looking at a large corporate entity. I think familiarity with the issues always enhances a presentation. My suggestion as to presenting to a smaller group is that the objective can be to see who would be "quick on their feet" and able to handle the pressure of the inevitable questions that always rise in the course of presentations they are most likely to make.

12.08

Bernie Donohue

Overall I thought the students spoke knowledgeably about their subject without the aid of notes or power point slides. They are to be commended for learning their material. A small number of the students were able to make a connection with the audience. Some spoke with passion and enthusiasm which is necessary to be an effective and convincing communicator. I think the majority of students appropriately identified risk concerns for their subject company. I do agree with Martin that the analysis of fictitious companies should not be allowed.

It seemed like only a minority of students spoke about ethical considerations. Obviously ethical behavior in real world business is important for students to recognize. In spite of the poor acoustics and lack of technical media, students need to be able to express themselves confidently. Simple things like eye contact, voice projection and body movement need to be employed by many of the students in order to be effective communicators. While the ability to collaborate is important in today’s business world, I think the groups should be limited to no more than 3 students.

I think a communication course (written and oral) would be helpful. I also mentioned Toastmasters as a way for students to practice public speaking. While not all students will be expected to present seminars on a daily basis during their careers, improved communications skills will give them some tools to succeed.

I think most of the students have to communication skills necessary for the work place. Many will not begin their careers consistently giving presentations. I spoke with some of the students after the presentations and they were bright and articulate. I think they will be able to communicate and collaborate in a typical work place setting on a daily basis. I expect room for growth as the students continue through their careers. In terms of ethical awareness, I could not judge from the presentations the extent of their ethical awareness.

12.08

Robin Gorski

The presentations were overall very good, some of course better than others. I agree with some of the previous comments including limiting the number of students to a group, requiring that a real company or organization be researched and the need for some sort of sound system. Very few of the groups addressed a problem or issue with ethical implications. I think we are all very aware of the scrutiny being placed over companies these days, especially publicly traded companies. The Commonwealth now requires us to have a CPE course in Ethics to renew our license every other year. Ethics is an area of focus in today’s business world as we see changes all around us. I think this should be a mandatory component of the presentation as it will be a very real part of these students’ careers.

I think that many of the students exuded the confidence and professionalism necessary to enter the business world. They certainly are light years ahead of where I was at their age. The great part of our culture today is that we all work really hard to attract and retain our human capital. For those of us in Public Accounting, it is an ongoing challenge, constantly trying to think outside the box. That being said, these students are going to be coached and mentored by some really great professionals. Once the students find their home, many of them will excel and move out of their comfort zones quickly. Others will need more coaching to find their way. I agree with Bill Quigley that bringing more public speaking into the curriculum would be very beneficial.

12.08

John Nicolopoulos

I think we all recognize that not everyone is going to excel at public speaking, but my greatest frustration while conducting on-campus recruiting (at all the area schools) is when I meet an obviously bright and talented student who struggles to communicate. Our business, despite tremendous advances in technology, remains a relationship business. Client interaction begins within a few weeks of commencing employment and even the newest, youngest staff needs to communicate with confidence immediately. I am a huge believer that group projects and presentations are invaluable to students who plan to enter public accounting. Forcing students to work through uncomfortable team dynamics and gaining experience communicating effectively better prepares them and provides them a greater opportunity for long-term success in the profession.

Consequently, like Bill, I would like to see what Mike is doing here, taken to the next level. It seems to me that given recent changes to licensing requirements, incorporating a communications course into accounting curriculum would be extremely valuable to students without significantly impacting the amount of technical accounting they're exposed to. A broad course focused on various types of 'professional communication', both written and oral would be extremely beneficial. I would envision a practical course where they receive the theory around each major means of communication followed by the practical implementation of that theory; written/oral presentations. The topics presented could be accounting concepts, new financial reporting pronouncements, tax regulations, etc.; so they are learning the communications skills, but also developing deeper accounting technical knowledge by researching the topic, building the presentation and delivering the paper or oral presentation, which should take several 'real world' forms.

Perhaps this is too ambitious, but if it could be designed and delivered effectively, I think it would extremely valuable to the students. I might also suggest that if the students see the value, they may be the best catalyst for change.

12.08

Brian Gallagher

Overall I thought the presentations went well. Like others I thought the acoustics could be improved as it was sometimes hard to hear what was being said. Also I was unclear as to what was the objective of the format. If the format was to place them in an awkward presentation scenario it was fine. If the objective was an attempt to replicate real life situations or to see if the group could orally support their arguments I think it may have fell short. For some I am sure it was an overwhelming intimidating experience that they may have felt bad about just due to the set up. I would think a situation where the presentation is to a smaller group with the students able to bring what ever presentation materials they believe would be useful in the presentation (within reason and minimal cost) would have more replicated real life experiences. I would think a presentation scenario where they needed to defend their work might be a more effective format for this type of class.

12.08

John Nicolopoulos

Overall, I think the entire group did a fine job with a very difficult assignment. Certainly, some had an easier time with it than others. The best presenters were those who really knew their material and did not try to recite a scripted presentation. Those who stumbled, appeared to do so when they forgot their lines". It was very difficult for them to recover, once they fell off track. This seemed especially true for some of the international students who were additionally challenged by presenting in other than their native language.

While I agree with the others that the assignment is a bit unrealistic, as this type of presentation would rarely be done in the 'real world' without a slide deck or some sort of discussion outline, I wouldn't necessarily change it. Rather, I would build more presentations into the curriculum earlier in the students' academic career. As a capstone presentation the format is fine, but the students need more experience with presentations before they get here in order to realize the maximum benefit of the exercise. They would also benefit from a presentation skills course, or a presentation skills module within one of these early courses that focuses on eye contact, voice inflection, etc, so they are 'practicing' these skills throughout their academic careers.

12.07

Leanne Melto

Overall, I thought the presenters did a great job. As I had mentioned on Tuesday the fact that they were up there with no podium, notes or slide presentations - which for the most part is not the case in the real world - is extremely difficult to do and great practice. Because the students were not allowed any assistance, I think several of the students just memorized their portion of the presentation versus having a conversational dialogue - which I think flustered some of the students.

In addition, I agree with some of the other observers, several of the students were extremely difficult to hear due to the layout of the room - so either providing a sound system or a room with better acoustics would enhance the presentations.

12.07

Peter Gold

I think this was a great learning experience for the students, not only talking in front of their peers but a group of various professionals in the accounting/finance profession. It was not so long ago that I was in their position and I think the majority handled the task at hand with poise, professionalism and enthusiasm. I think Suffolk has done a great job bringing the real world into the classrooms. Next time I would set up this forum as more formal presentations with slides, perhaps microphones and handouts.

12.07

Bill Quigley

Recognizing your potential difficulty in changing things too rapidly, the next best thing would be to integrate more presentations in the courses Mike controls. This, of course, presumes that Suffolk considers public speaking an important aspect of its teaching mandate (for all I know, it may not). I am sure it is difficult enough for Mike to assure the basics of the curriculum are covered in the semester; therefore, adding further requirements may not be practical.

I believe it is always a good idea for students to hear from the "real world." What concerns me is the idealistic/unrealistic world college students live in may create technically competent people, but ones ill equipped for what we do out here in the "real world." I truly believe that schools like Suffolk, that have their genesis in creating educational opportunities for disadvantaged kids, giving them tools to live in society, have a better shot at breaking away from the parallel universe that virtually all colleges live in.

12.07

Martin Benison

We all understand the importance of collaboration and public speaking. This reinforces both. I think bringing us in as an outside audience in is a great idea.

Having done these two ways: (1) with a small group of reviewers who meet briefly after the presentation and then meet with the students and present them their grade; and, (2) your approach where we present you feedback and you incorporate that feedback with other factors into the grade; I prefer your approach which gives you the opportunity to consider our advice with other factors to finalize a grade.

One of the previous comments mentioned not all the presenters were pragmatic. This issue was exacerbated when students created fictitious companies. I would require research on a real organization in the future.

On format, like the others, I could not hear many of the presentations which limited my ability to provide feedback. In addition not being able to read their name tags made it impossible to provide individual feedback for individual presenters. So I think your goal to force articulation is important, you need to insure the reviewer knows who is speaking ( list them in speaking order, seat us up front so we can read name tags) and can hear the presentation

I concur for a 5 minute presentation you should limit the number of speakers to 3. I also noticed speakers stumbled when you stood up which put that speaker at a disadvantage. You might want to consider another option where someone holds a countdown sign (2 min,1 min, 30 sec, etc.). This also enforces the responsibility of all speakers to stay on time.

12.06

Joe Flynn

I think that the solo presenters on the whole did a better job. They were more organized, and spoke more clearly. A group presentation is a difficult task unless there have been rehearsals before time to be sure the presentation is integrated and that all the presenters have an appropriate amount of time. It would be useful to have a sound system because the acoustics were not very good. In addition, there will be times in the future when the presenters will be using a sound system, and it is good to have practice using it. I was very much impressed with the work the students did and with their presentations.

12.06

Jim Angelini

I found the presentations very good, overall. The acoustics were horrible and a microphone was needed, especially for foreign students with heavy accents. This is great practice for our students. I did notice that many of the presentations neglected any discussion of ethical implications, as you instructed, so that part was hard to grade.

12.06

Bill Quigley

1. For the most part, the presentations/presenters "met expectations". That is, I didn't expect too much (because of lack of experience in public speaking). One or two exceeded expectations and one or two were below expectations.

2. Because of the combination of poor acoustics, little or no voice projection, and very heavy accents, most of the presentations were garbled or lost entirely. The few who did project, I was satisfied with their presentations.

3. Again, from what little I heard, my reaction to the material was "The ideas are idealistic and not very realistic." That said, real-world experiences will cause the students to become more pragmatic in their approaches to solving problems. I will leave to you the judgments of their work through your review of the papers that accompanied the presentations.

4. Future groupings should probably be limited to three - the five-minute time limit, which I like, is too short for more than three presenters to have any meaningful opportunity to speak. Several presentations became an absurd race to "beat the clock."

5. As to the grading grid - I could not discern what the categories meant, or were intended to capture. If you wish to continue using that grid, make sure the graders understand what you are looking for.

I continue to be amazed by the sincere, genuine, committed students that Suffolk University attracts. Last night merely reinforced that view. While my comments may appear harsh, they should not be misconstrued as denigrating the "kids." Quite to the contrary, my admiration for their abilities only grows when I have the opportunity to meet them, such as last night.

12.04

Mike Kraten

Hello guests! Here are three questions to guide your conversation; however, you are welcome to address any issue you wish.

1. Considering the group as a whole, did you detect any noteworthy strengths or weaknesses?

2. Can you think of any program enhancements that we may implement to address the weaknesses?

3. Regarding their communication skills and sense of ethical awareness, are the students ready for the work force?

11.05

Mike Kraten

All comments will be posted here. Please remember that this blog is posted on a public web site; we will not post any “private” comments here!