careIn 2017 my Website was migrated to the clouds and reduced in size.
Hence some links below are broken.
One thing to try if a “www” link is broken is to substitute “faculty” for “www”
For example a broken link
can be changed to corrected link
However in some cases files had to be removed to reduce the size of my Website
Contact me at if you really need a file that is missing



Bob Jensen's Bookmarks
Accounting, Finance, and Business Section
Bob Jensen at Trinity University

Here are several calculators to help you with your investment decisions:
Mutual Fund Cost Calculator
Tax-Free vs. Taxable Yield Comparison Calculator
College Savings Calculator
Loan Calculator
Savings Calculator
Social Security Retirement Planner
Ballpark Estimate Retirement Calculator
529 College Savings Plan Expense Calculator
Investor Quiz: Test Your Money Smarts

Facts and statistics (Fast Facts) --- 

Immigration Since 1840 Social studies ---

Country Briefings (international statistics) from The Economist 

This U.S. Department of Commerce Website has a wealth of data and news --- 

Commerce Organizations

Freedom of Information Act (FOIA), Grants, Reference

Business Development
Contracting Opportunities, Disadvantaged Businesses, Publications, ...

Economic Analysis
Bureau of Economic Analysis, Demographics, Economic Data, ...

Economic Development
Innovative Programs

Environmental Management
Conservation, National Environmental Satellite, Data, and Information Service (NESDIS), Publications, ...

Exporting, Industries and Sectors Information, Technology

International Trade
Bureau of Export Administration, Defense Trade, Export Controls and Regulations, ...

Electronic Commerce
Programs/Initiatives, Publications and Reports, Statistics

Employment and Internship Opportunities

Laws and Regulations
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Patents and Trademarks

Programs and Initiatives
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Science and Technology
Internet, Science, Spectrum Mgmt, ...

Statistics and Research



Finding Colleges, College Rankings, Financial Aid, and Online Programs

Guides to Distance Education Courses and Programs --- 

Finding Colleges, College Rankings, Financial Aid, and Online Programs --- 


Bookmarks are Listed Below


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links --- 

Accounting - Accounting Education
Online Accounting Education has database links category of international university directories --- 
Bob Jensen's Links to Accounting Education Programs
Bob Jensen's Links to Accounting Software and Vendors
On Balance Forum - Conferences (Accounting Education Listservs)
On-line CPE Source - Quick, Easy, and Convenient CPE
Insight CPE: Continuing Profesional Education for CPA's
Welcome to the CPEInternet Campus!
RARC(Rutgers Accounting Research Center) Secured Site
BEST CPE - ONLINE CPE Courses for CPA's: Hardwick Publications
NRI Schools -- Leader in Career Training for Busy Adults
Accounting Related Resources
AAA American Accounting Association
Financial Accounting Standards Board (FASB) 
Accounting Education Change Commission (AECC)
Summerfor Web (AAA Accounting Education News)
AICPA Home Page
AICPA Journal of Accountancy
AICPA Index by Subject
AICPA Online Audio/Video Library
AICPA Webtrust Principles and Criteria
ANet Australia home (International Accounting Network)
Association of Government Accountants 
Smart Communities Network ---
Case-Based Reasoning in the Web
Global Window Main Menu (Business Schools and Culture of Japan)
Jim Hasselback's On-line Accounting Faculty Directory
NAN Nordic Accounting Network
PIC-AECM Pacioli Web Server
RAW Rutgers Accounting Web Introduction
CPA Online: Your source for Accounting Information on the Internet
Newsand Information (Legislation, Law, Accounting, Auditing, Health)
Wm. Dennis Huber's Web Page
Will Yancey's Home Page
Master of Business Taxation Degree Program University of Minnesota (tax)
Good links to education sites

Accounting Professors

Jim Hasselback's On-line Accounting Faculty Directory
Jensen & Sandlin Survey of U.S. Accountancy Education Programs (This is now out of date)
Bob Jensen's Links to selected colleges and accounting education programs
Gerald Trite's great set of links --- 
Tax and Accounting Sites Directory
Rutgers Accounting on the Web Mailing List WWW Gateway
E. Barry Rice, Loyola College in Maryland
Accounting Quiz Demo (Richard Campbell, ToolBook Demo of Java)
Roger Debreceny Home Page
Trends in Technologies for Ocean-Spanning Asynchronous Learning
ANEWS-L: Hasselback Directory now on ANet
ANet Australia home (International Accounting Network)
Jim Hasselback's On-line Accounting Faculty Directory (Prentice-Hall Web Site)
InterNIC Guide to U.S. Universities (Directory)
000021 AmericanCollegesand Universities
Jensen & Sandlin Survey of U.S. Accountancy Education Programs
Ceil M. Pillsbury
Sharon Lightner at San Diego State University
AcctgInfoPlus Accounting Education Links
Department of Accounting & Finance,UOW
Favorite Sites -- Accounting, AIS & MIS Students & Professionals
Homepage for Larry Tomassini
Pacioli Web Server
Randall B. Dunham
School of Accountancy - Faculty - Charles Christian
Stonehill College: Programs in Accountancy (John A. Schatzel)
Tennessee Quality Award
Internet Exploration: Hot Sites
Darrell Walden at U. of Richmond - Accounting Information Systems
Univeristy of Waterloo - School of Accountancy - J.E. Boritz
Will Yancey's Home Page (great accounting links)

Colleges (Accounting Programs) has database links category of international university directories --- 
Bob Jensen's Guides  (Old and Outdated)--- 
Yahoo! - Education:Higher Education:Colleges and Universities
Tax and Accounting Sites Directory
Accountant's Home Page
Accounting Sites Directory
ANet People Database Welcome
ANet Australia home (International Accounting Network)
Jim Hasselback's On-line Accounting Faculty Directory
Marr and Kirkwood Official Guide to Business School Webs
US News Online Comparisons of Programs in Higher Education

Accounting Course Syllabi, Materials, & On-line Courses

Bob Jensen's Guides --- 


Free Tax Tutorials for Professors and Students
Tax Analysts, a non-profit pubic service organization that provides in-depth tax information resources for tax professionals, has announced it is making its news and research products available at no charge to accounting, law, and economics professors and their students.
AccountingWeb, June 28, 2007 ---

Bob Jensen's tax helpers are at

The Journal of Accountancy has many free accounting and tax helpers ---

You can order back issues or relevant links management and accounting books and journals from MAAW ---

Free Access to Back Issues of The Accounting Review --- 

From MIT:  OKI and DSpace --- 

From Smart Stops on the Web, Journal of Accountancy, July 2007 ---



This Smart Stop provides a daily dose of tax news, papers and court judgments. Professor Paul Caron of the University of Cincinnati College of Law updates the site frequently with a balance of academic and practical items, ranging from IRS reports to details on upcoming tax conferences. CPAs can use the topical archive to find posts by subject tag. Caron’s site is part of the Law Professor Blogs Network (see “Smart Stops on the Web,” JofA, Oct. 06, page 27), which hosts a variety of academic blogs on securities, banking, nonprofits and trusts.

August 30, 2005 message from Walter Antoniotti []

Good day Bob!

I am a retired college professor building an Accounting Internet Library to serve the accounting community.
I recently added a free internet version of these accounting books from the Quick Notes Learning System.

Financial Accounting covers Accounting I and II college courses and with concise topic  explanations and problem oriented tests.
The Accounting Cycle A Debit and Credit Approach covers debits and credits for the accounting cycle through merchandising.
Financial Accounting For Owners, Managers, and Administrators  covers basic principles without using debits and credits.
Financial Accounting Practice Sets One practice set briefly reviews the accounting cycle and the other is an extensive example 
of the conversion of a merchandising company to a computerized system.

Please consider
1) using these materials in your classes
2) linking to them at your site
3) telling students and fellow teachers about them
4) adopting the paper versions for your courses

Information on these and other accounting books are available at our Business Book Mall Accounting Store.


American Accounting Association Accounting Coursepage Eschange (ACE)
American Accounting Association Teaching Section
Accounting Journals Index
Arthur Andersen KnowledgeSpace
Bob Jensen's Links to selected colleges and accounting educators
Bob Jensen's Vendor Database
Sharon Lightner at San Diego State University
Also see my review of Sharon's innovative international accounting course
Ceil M. Pillsbury
Course Outline ACTG 691
David R. Fordham
Global Window Main Menu (Business Schools and Culture of Japan)
Homepage for Larry Tomassini
Jensen & Sandlin Survey of Accountancy Education Programs
Jensen & Sandlin Survey of Commerical Learning Materials in Accounting
JohnSon's Accounting and Auditing Page
Abstract97 (compliance detection, real-time audits)
Marr and Kirkwood Official Guide to Business School Webs
OSU Department of Accounting & MIS
Rethinking Teaching and Learning (Accounting, Microsoft Award Winner)
Spiceland's Intermediate Accounting II
Tax Resources (U. of Iowa)
Will Yancey's Home Page

Februrary 16, 2003 message from Gerald Trites [gtrites@STFX.CA

The Canadian Institute of Chartered Accountants has a publication "Information Technology Control Guidelines" which was published in 1999. The book is quite large and there has been some talk about a possible decision support system that might be developed, loaded with the ITCG guidelines, placed on a CD and used in the field for assistance in analyzing system controls for particular systems/companies and developing recommendation letters. I would think the preferred approach would be to find a suitable shell and then build the system around it. In the course of my research of a good system, I came across VP-Expert which at one time was highly recommended, but it is DOS based and appears to be out of date. There is a variety of others. Does anyone have knowledge of a good DS shell that might be useful for this application and that would run on current Windows platforms? It should have run-time capability so the CD can run on its own.

Any advice you might have would be most appreciated.

Gerald Trites, FCA 
Professor of Accounting and Information Systems 
St Francis Xavier University Antigonish, 
Nova Scotia Tel.  
Website - 

The CICA home page is at 

Activities Based Costing (ABC) (annotated bibliography) (Is ABC Fundamentally Flawed?) (bibliography) (ABC Software) (from my good friend Germain) (you have to do a little hunting) (Case Study) (Value Added) (See the Working Papers section)

I would examine the listing of the Managerial Accounting texts at Enter the search terms "Managerial Accounting" and "Management Accounting." 

I also recommend that you look at the Managerial and Cost Accounting Courses in ACE at 

Activities Based Costing (ABC) Costing Bibliography

Activities Based Management and ABC Costing 

"Towards a New Cost-Aware Evaluation Framework"

Added later 

Dear Professor Jensen,

There is an interesting website about ABC and EVA that named: Activity-Based Costing (ABC) Economic Value Added Internet Website GuideWritten by Narcyz Roztocki (  at 


Rudi Handoko
Tim1 [

Added later

Dear Mr. Jensen, 
 found your web site, which is remarkable, and I was wondering if you would consider adding our organization to your listing of Activities Based Costing (ABC) links. ICMS, Inc. has been around training & coaching organizations in all industries to implement ABC/ABM since 1988. Please visit our web site for more information:


Thank you!
Christine Nola, ICMS, Inc. 6031 West I-20, Suite 219 ~ Arlington, Texas 76017 Phone: 817.483.6511 ~ Fax: 817.483.7097 
Webs:  and 


Financial Ratios

Financial Calculators and Other Tools for Business Valuation and Forecasting --- 

Hi Thomas,

I hope you are doing well. In response to your financial ratio question, I am afraid that I do not know of a free site that maintains company profiles and industry profiles for a complete set of ratios. Most services charge for this service, although some services provide a few free ratios and other indicators.  Beware of ratio definitions.  As you well know, there are various ways to compute almost any financial ratio.  Naive analysts may be comparing apples and oranges when looking at values of any ratio.


Thanks to Chris Nolan I found a pretty good free web site for company and company-to-industry comparison ratios at  . Click on the research tab in at that web site and enter a symbol like IBM.

Chris also recommended .  Enter a symbol or company name such as IBM.  Get the Quote for that company.  Then click on the Company Profile button to see some ratios. 

Another free web site that I recommend is
After searching on a particular company's symbol (try IBM), you will find a Market Guide link.
Alternately, you can begin with Market Guide at or  .
Users should carefully examine the Market Guide Glossary at .  A possible exercise for students is to have them verify (for selected companies and selected ratios) the Market Guide calculations.

My next recommendation is to go to . By entering a company's stock symbol, you can get all sorts of links, including that company's profile and fundamentals links. The "Company Data" path at this web site leads to

ABC News has some quick and very limited company information for free at

The New Google Stock Screener (sort of nice as online screeners go) --- Click Here

If you want to look up a company's annual report online, a very good annual report directory is located at .  Of course there are some good SEC links at

EDGAR Database
EDGARSCAN from PriceWaterhouseCoopers at  
Free EDGAR  at

From the CFO Journal's Morning Ledger on May 4, 2016

The hottest metric in finance: ROIC
A metric known as return on invested capital is all the rage, used by companies such as General Motors Co. to placate activist investors. For ROIC lovers, which also include traditional stock pickers, the measure is the best way to distill what activists view as the most critical skill of management: how they allocate capital.

For a fee, you can get more complete company and industry profiles at . This is a very good service but some good things in life are not free.

If you are interested in online financial analysis, I highly recommend some of Larry Tomassini's great links.

Tomassini's CorpOnline at

Tomassini's Financial Analysis Online

Jim Borden mentioned the Deloitte & Touche web site at
I found the above server to be painfully slow.  However, Jim's recommendations should always be taken seriously.

MACRO ECONOMICS LINKS (including data classified by industry)

Last year I shared a platform with David Boldt at an education technology conference at Bentley College. David has a great web site for economists, particularly in the area of macroeconomics. His materials are listed at

If you are looking for industry and economic statistics. one place to begin searching is at 

The 2008 Statistical Abstract ---

IPUMS USA (census data from 1850 to present) ---

U.S. Census Bureau: Random Samplings ---

Statistical Abstract of the United States 2004-2005 ---
Bob Jensen's threads on encyclopedias are at

U.S. Census Bureau: Random Samplings ---

Historical Census Browser ---

U.S. Census Bureau ---

From the U.S. Census Bureau ---

Explanations of economic statistics can be found at 

The above web site leads to a heap of macro data, but you were more interested in industry ratios. A bit of searching from the above site led me to a University of Michigan site at

There are various industry categories at the above web site. The Business and Industry button led me to the FedStats web site at

Facts and statistics (Fast Facts) --- 

Country Briefings (international statistics) from The Economist 

Another good set of Federal Government links can be found at
Not much in the way of ratio data at that web site, but you will find a variety of interesting documents and links.

A personal finance site geared to the younger generation

Advertisement Free Personal Finance Blogs ---

Portfolio Management

Journal of Portfolio Management -

Portfolio Management Forum -

Portfolio Knowledge -

The Small-Cap Alpha Myth -

50 Most Common Mistakes Made by Traders and Investors ---

Multistyle Rotation Strategies -

myCFO -

Advertisement Free Personal Finance Blogs ---

Consumer Reports subscribers can access an excellent helper site for personal finance --- 
A separate subscription for online access is available that also provides a discount to the hard copy magazine subscription.

Bond funds 1/02 R
Domestic hybrid funds 8/02 R
Exchange traded funds update 10/02 R
Investing in bear market 8/00
Investing online help 3/00
Managing your portfolio 3/00
Mutual-fund families 3/01 R
Rollover rules 1/00
Shoring up your 401(k) 3/02
Short-term bond funds 6/02 R
Stock mutual funds 3/02 R

Shopping & spending Better baseball caps 5/01
Booksellers 1/02 R
Cell-phone calling plans
CR Gift Guide 11/01
Eyeglasses 6/01 R
Groceries online 9/00
Long-distance calling plans
Megastores 7/02 R
Online auctions 5/01 R
Online auctions: Sellers 7/01
Online shopping 11/00 R
Returns 1/99

Financial privacy 5/01
New face of banking 6/00 R
Online banking 2/02 R


Life insurance premiums 12/00
Life settlements 2/01

Lifestage transitions
2nd marriage finances 6/02
College-loan debt 7/02
Midlife career changes 9/02
Raising baby on a budget 10/01
When a parent moves in 10/02
Working past age 65 8/02

Budgeting ideas 8/01
College on credit cards? 7/01
Electricity meter 1/02
How to cut phone bills 2/00
Phone-service wars 3/00
Prepaid phone cards 2/01
Saving for college 2/00
Saving options 9/01



Keeping track of your pension
Employees have seen once-lush 401(k) retirement accounts--already whipped by two years of stock market losses--shrink even more in the summer's market slide. But some 44 million workers have another asset: a defined-benefit pension plan

Index funds you can trade
We provide details on exchange-traded mutual funds, and how they might save you money on your year-end income taxes.

529 college saving plan
Our expert advice and recommendations for the many families who can benefit from this plan.

The "crime tax"
Here, the details on retail theft and how consumers are paying the price.

Shopping online
Now that you know what to buy, find the best places to buy it, with our e-Ratings.


* indicates a product that is part of our continual-testing program.
R indicates a Ratings report.
A indicates an archive Ratings report. Many of the tested models may no longer be available.

The Consumer Reports home page is at 

A complete index of all reports is available at A to Z index

Reply from Thomas,
Thanks to everyone who responded to my request for information about industry financial ratios on the Web. After reviewing several sites, I decided to settle with the following:

Yahoo Market Guide: .

If you enter a company’s Name or Ticker Symbol in the "Search For" field and then click GO and then Comparison, you will not only obtain financial ratios for the company you have searched for, but you will also find ratios for (1) the company’s industry, (2) the economic sector in which the company operates, and (3) the S&P 500. Other items that you may view about a selected company include:

A Snapshot of the company
Stock Market Quotes
Recent News about the company
Custom Price Charts (this is very interesting)
Analysts’ Earnings Estimates and buy/sell recommendations
Market Performance data and summary of institutional ownership
Financial ratio Comparisons—Industry, Sector, S&P 500
Insider Trading
Instit. Ownership

I plan to use this site for a class project in which students are required to analyze/evaluate a small number of companies. Although it "works", I am concerned about the underlying source and reliability of the numbers and other information that appear at this and other similar sites. Are there any unpublished or published studies on this issue?

Thomas G. Calderon, Professor
G. W. Daverio School of Accountancy
College of Business Administration
The University of Akron
Akron, OH 44325-4802
Tel: (330) 972-6099
Fax: (330) 972-8597

Advanced Stock Information (note that ratios are available)

Enter a symbol and click "go!" to get the following information: Stock Prices, Options, Stock Splits, Charts, Live Stock Quotes, Stock Performance, Earnings Estimates, Analyst Opinions, Company Performance, Stock Valuation, Broker Reports, Company Profile, Earnings Release Dates, Latest News, Fundamentals, Intraday Charts, Forum Discussions, Technical Charts, Annual Reports, Significant Events, Institutional Ownership, Financial Ratios, Insider Trading, SEC Filings, Financial Statements, Stock Dividends, Competition, Momentum Rating, Management Discussion, Conference Calls, Short Interest, and more.

Update on November 29, 2001 from Ken Neet

Enter a stock symbol. The next page allows you to select from several categories of ratios.

Update on November 29, 2001 from Enrique Bonson Ponte

You can find Spanish industry averages for free at and then financial statements of Spanish quoted companies at 

Update on November 29, 2001 from Tom Omer

Here is one I use that works very well. 

Jalal Soroosh  recommends  

First Research, Inc. Publishes seven- to fourteen-page targeted Industry Profiles on over 100 industries.


Faculty and Program Performance Appraisal Trends and Accreditation

You may want to especially note the AACSB's  International Performance Indicators Project --- 

The Performance Indicators Project focuses AACSB International resources on building the most comprehensive and complete database about business schools available anywhere. This database will be used to provide members with a customizable set of information products and services designed to support planning, budgeting and continuous improvement efforts. The online system, scheduled for launch in January 2001, will be available for use only to schools that provide data.

Certain data, specifically indicated in AACSB International surveys and questionnaires, also will be available via the AACSB International Web site to promote member schools to key stakeholders such as prospective students, employers and the media. The Web increasingly serves as the primary resource for prospective business faculty, students and employers. Participating schools also will be eligible for inclusion in exclusive AACSB International lists and other informational pieces designed to better inform stakeholders about business schools, accreditation and the management education industry.

AACSB International Newsline articles about the Performance Indicators Project 

Frequently Asked Questions (FAQs) about the Performance Indicators Project – PDF 

This is also one of the topics covered in the American Accounting Association's benchmarking/partnering initiative.  See 

ACADEMIC PARTNERS will help your department improve through:

  • A newsletter especially for program leaders
  • Leadership Express, bi-weekly electronic bulletins alerting program leaders to the latest trends and issues in the field
  • Electronic discussion groups led by experts in their areas. Share your expertise and interact with leading accounting educators.
  • Opportunities to connect electronically with colleagues worldwide to discuss topics of relevance to you.
  • Faculty and administrator development programs
  • Discounted registration for midyear Annual Seminar of the AAA’s Accounting Programs Leadership Group (APLG)
  • Toolkits, comprehensive collections of resources such as videotapes, books, bibliographies and CDs, on topics like assessment, faculty evaluation, active learning, and cognitive development and professional skills

You may want to track the new Leadership Express Newsletter at 

Then if you really want to be overwhelmed, enter the phrase "Faculty Assessment" under the category "exact phrase" at 

The American Academy of Accounting and Finance (AAAF) --- 

In 1993 a group of accounting and finance professors at a small, teaching oriented, public university started discussing the idea of a cross-disciplinary organization for academicians in the accounting and finance disciplines.

AACSB - International had only recently revised its accreditation standards to make accreditation a realistic option for smaller schools. Even those revised AACSB accreditation standards required faculty to be active in the production of intellectual contributions, i.e. research.

Given the increased emphasis that many teaching oriented schools began to place on research as a result of the change in AACSB standards, the organizers believed there were insufficient research outlets then available to faculty at primarily teaching institutions with limited resources. Accordingly, the organizers decided to move forward with the creation of organization that would give faculty at smaller, primarily teaching institutions access to an organization with a process that would assist them in achieving their research goals.

Also see the following accrediting organizations and summaries:

Specialized Accrediting Agencies --- 

AACSB --- 

ACSBP --- 

Jack Anderson's Accounting Information Finder ---

From The Wall Street Journal Accounting Weekly Review on September 3, 2010

The Decline of the P/E Ratio
by: Ben Levisohn
Aug 30, 2010
Click here to view the full article on
Click here to view the video on WSJ Video

TOPICS: Analysts' Forecasts, Financial Statement Analysis, Forecasting

SUMMARY: "While U.S. companies announced record profits during the second quarter, and beat forecasts by a comfortable 10% margin, on average, the stock market has dropped 5%. Based on trailing 12-month earnings, the average price earnings (P/E) ratio in the overall market is about 14.9 compared to 23.1 in September 2009; "based on profit expectations over the next 12 months, the P/E ratio has fallen to 12.2 from about 14.5 in May, 2010." The reason for this divergence is, of course, economic uncertainty that is not evident in the (average) point estimates of earnings nor in the relatively good earnings numbers of both the first and second calendar quarters of 2010. The related article is a WSJ graphic of earnings per share actual compared to average analyst estimates, by industry and by week.

CLASSROOM APPLICATION: The article is useful to show the need for understanding context of ratios in undertaking financial statement analysis. It also demonstrates that ratios can be measured in more than one way, such as the use of past earnings or analysts' average forecasts. The related article can be used to introduce students to analysts' earnings forecasts.

1. (Introductory) Define the price earnings ratio (P/E) and explain its meaning.

2. (Introductory) What two methods of measuring P/E are described in the article? Why do you think both are used?

3. (Introductory) Refer to the related article. How are analysts' estimates used in this WSJ graphic analysis? In your answer, also describe who are the analysts producing these estimates.

4. (Advanced) How did companies perform relative to analysts' estimates in the second calendar quarter of 2010?

5. (Advanced) What has happened to the P/E ratio? Why does the author say the P/E has fallen in relevance? Do you agree with that assessment?

6. (Introductory) What other evidence in the article corroborates the issues in the recent fall in the average P/E ratio?

Reviewed By: Judy Beckman, University of Rhode Island

Now Reporting: Earnings
Aug 01, 2010
Online Exclusive

"The Decline of the P/E Ratio," by: Ben Levisohn, The Wall Street Journal, August 30, 2010 ---

As investors fixate on the global forces whipsawing the markets, one fundamental measure of stock-market value, the price/earnings ratio, is shrinking in size and importance.

And the diminution might not stop for a while.

The P/E ratio, thrust into prominence during the 1930s by value investors Benjamin Graham and David Dodd, measures the amount of money investors are paying for a company's earnings. Typically, companies that post strong earnings growth enjoy richer stock prices and fatter P/E ratios than those that don't.

But while U.S. companies announced record profits during the second quarter, and beat forecasts by a comfortable 10% margin, on average, the stock market has dropped 5% this month.

The stock market's average price/earnings ratio, meanwhile, is in free fall, having plunged about 36% during the past year, the largest 12-month decline since 2003. It now stands at about 14.9, compared with 23.1 last September, based on trailing 12-month earnings results. Based on profit expectations over the next 12 months, the P/E ratio has fallen to 12.2 from about 14.5 in May.

So what explains the contraction? In short, economic uncertainty. A steady procession of bad news, from the European financial crisis to fears of deflation in the U.S., has prompted analysts to cut profit forecasts for 2011.

"The market is worrying not just about a slowdown, but worse," said Tobias Levkovich, chief U.S. equity strategist at Citigroup Global Markets in New York. "People want clarity before they make a decision with their money."

Three months ago, analysts expected the companies in the Standard & Poor's 500-stock index to boost profits 18% in 2011. Now, they predict 15%. Mutual-fund, hedge-fund and other money managers put the increase at closer to 9%, according to a recent Citigroup survey, while Mr. Levkovich's estimate is for 7% growth.

"The sustainability of earnings is in doubt," said Howard Silverblatt, an index analyst at S&P in New York. "Estimates are still optimistic."

Equally troublesome, analysts' forecasts are becoming scattered. In May, the range between the highest and lowest analyst forecasts of S&P 500 earnings per share in 2011 was $12. Morgan Stanley predicted $85 per share, while UBS predicted $97 per share. Now, the spread is $15. Barclays said $80 per share; Deutsche Bank predicts $95.

When profit forecasts are tightly clustered, it signals to investors that there is consensus among prognosticators; when they diverge wildly, it shows a lack of clarity. The P/E ratio tends to fall as uncertainty rises, and vice versa.

"A stock is worth its future earnings, but that involves uncertainty," said Jeremy Siegel, professor of finance at the University of Pennsylvania's Wharton School. "The more uncertainty there is, the lower the P/E will be."

Not only is the P/E ratio dropping, it also is in danger of losing some of its prominence as a market gauge.

That is because, with profit and economic forecasts becoming less reliable, investors are focusing more on global economic events as they make trading decisions, parsing everything from Japanese government-debt statistics to shipping patterns in the Baltic region.

To some extent this is in keeping with historical patterns. P/E ratios often shrink in size and significance during periods of uncertainty as investors focus on broader economic themes.

P/E ratios fell sharply during the Depression of the 1930s and again after World War II, bottoming at 5.90 in 1949. They plunged again during the 1970s, touching 6.97 in 1974 and 6.68 in 1980. During those periods, global events sometimes took precedence over company-specific valuation considerations in the minds of investors.

There have been periods when the P/E ratio was much more in vogue. A century ago, the buying and selling of stocks was widely considered to be a form of gambling. P/E ratios came about as a way to quantify the true value of a company's shares. The creation of the Securities and Exchange Commission during the 1930s made financial information more available to investors, and P/E ratios gained widespread acceptance in the decades that followed.

But thanks to the recent shift toward rapid-fire stock trading, the P/E ratio may be losing its relevance. The emergence of exchange-traded funds in the past 10 years has allowed investors to make broad bets on entire baskets of stocks. And the ascendance of computer-driven trading is making macroeconomic data and trading patterns more important drivers of market action than fundamental analysis of individual companies, even during periods of relative calm.

So where is the P/E ratio headed in the short term? A few optimists think it could rise from here. If corporate borrowing costs remain at record lows and stock prices remain depressed, companies will start issuing debt to buy back shares, said David Bianco, chief U.S. equity strategist for Bank of America Merrill Lynch. As a result, earnings per share would increase, he said, even if profit growth remains sluggish, and P/E ratios could jump with them.

But today's economic uncertainty argues against that scenario. Consider that while P/E ratios dropped during the inflationary 1970s, they also fell during the deflationary 1930s. The one common thread tying those two eras of falling P/E ratios: unpredictable economic performance.

"We're looking at a more volatile U.S. economy than we experienced in the last 30 years," said Doug Cliggott, U.S. equity strategist at Credit Suisse in Boston. "The pressure on multiples may be with us for quite some time."

September 8, 2010 reply from John Briggs, John  [briggsjw@JMU.EDU]

I saw this article and didn't quite "get" it...the title at least.

Of course the P/E ratio is still relevant.

My favorite site for this is, where a guy provides a daily look at the Shiller ("Irrational Exuberance") 10-year P/E...10 years of data instead of 1.  It's currently 20.  It used to be 45.  Indeed, 45 was a bubble.

Right now, you would think 16 would be appropriate, but extremely low interest rates argue for higher (in comparison to investing in bonds), but economic uncertainly argues for lower.

So I'd make the case that this metric should be around 16 right now...20 indicates to me that stocks are slightly overvalued.

The only time the P/E ratio really was ignored was in 2000, it seems to me.  I'm glad I had no money then.

Bob Jensen's bookmarks for financial ratios ---
Also see

Bob Jensen's threads on valuation are at



Online Accounting Textbooks and Cases

Bob Jensen's listing of free online textbooks and other learning materials are at
Note that most of these are not repeated below, so please click on the above link.

Comparisons of National and International accounting rules ---

Bob Jensen's summary of accounting theory ---

O'Keefe Accounting Library Searches

Free CPA Review Course ---

CPA Examination candidates and accounting faculty should check out the free database at

The Trinity University library has a single-user license (with an academic discount) for PwC’s Comperio ---
The single-user limitation really has not been problematic for us. Our Library guru wrote some front end code that lets any Trinity faculty member or student go directly into Comperio without having to remember a password

Comperio evolved out of a CD-Rom database that Price Waterhouse  sold under the name “Price Waterhouse Researcher.” Updated CDs were sent to us each quarter in the old days before things were as networked on the Web. Now it’s all Comperio on the Web.

Andersen had a competing CD database called Research Manager. That was bought out after Andersen fell, but I think it is now defunct (I could be wrong about this).

Now Comperio is the main commercial database available other than FARs ---
I think each student can buy this from Wiley, but there have been numerous complaints about it.

PwC's Comperio Accounting Research Manager

Comperio is the most comprehensive on-line library of financial reporting and assurance literature in the world. Over 1,500 financial executives from around the world use Comperio on a daily basis. Comperio content includes AICPA, DIG, EITF, FASB, IAS, ISB and the SEC as well as pronouncements and standards from Australia, Belgium, Canada, New Zealand and the United Kingdom.

With Comperio, the answers you need are always available - right now, right at your fingertips. There is no software to install - just go to the Comperio website and start researching!

The entire online library can be immediately accessed by browsing a pronouncement or topic directly, or by searching the entire database for key words, topics or terms.

Visit the Comperio product information site at . You will find the necessary forms to order Comperio today or to request a 30-day free trial.

Andersen's old Accounting Research Manager is now updated and maintained by CCH. The AICPA has accounting research literature in the FARs database.

For national and international accounting rulings and online research, it is best to subscribe for a fee to one of the leading services shown below:

PwC Comperio ---

CCH Accounting Research Manager ---

AICPA FARs (marketed by Wiley) ---

For looking up filings with the SEC, there are two major sources:


PwC EdgarScan --- 

It is possible to do comparative company financial analyses using the core earnings databases ---

Many IFRS and multiple nation standards and reviews are available from Deloitte's IAS Plus ---

Free International Auditing Standards
All documents issued by IFAC and the International Auditing and Assurance Standards Board (IAASB) are now available for immediate download at no charge. Visitors must simply fill out a one-time registration to gain access to the documents. 

Bob Jensen's search helpers are at 
Accounting topic search helpers ---
Note that most of these are not repeated below, so please click on the above link.

A Selected Listing of Accounting Textbooks from --- 
Most of these books are not available online, but many have online supplements.

There are very surprising omissions.  For example, under Financial Statement Analysis, I view Stephen Penman ' s Financial Statement Analysis and Security Valuation Book (Irwin McGraw-Hill) as the best book available, but left it out of the list in favor of  books I respect much less such as the Palepu, Healy, and  Bernard book (which has a recent cheap shot inferior revision) and the badly outdated Foster Book (1986).  

Under Managerial Accounting, the lead selling book by Garrison and Noreen (McGraw-Hill) is not included in the list.

Flat World Knowledge will no longer publish versions of its textbooks at no charge ---

Jensen Comment
At $19.95 a Flat World book may sound like a real deal compared with a competitor's $180 alternative. But keep in mind that the higher priced textbook may be more current and have much better exhibits, end-of-chapter material, and multimedia supplements. As a rule the more expensive versions have value added unless there are some unfair marketing tactics employed (such as giving instructors 20 free copies that they can sell in the lucrative cash market offered by the sleazy guys prowling around faculty offices).

Also keep in mind that students may sell the $180 textbooks back to campus bookstores for as much as $90. There's not much a used book market for books published by Flat World.

"Textbooks for Tightwads:  As classes start, business students are in for a shock: Textbook prices are higher than ever. A word to the wise: It pays to shop around," by Rachel Z. Arndt, Business Week, August 26, 2009 ---

Shopping for textbooks can be burdensome at best, painful at worst. And it's no different for business students. By the time students get to B-school, they're probably well-versed in the tricks of the textbook trade. They need to be, with some books required at top B-schools retailing for well over $200.

Although textbook shopping is as inevitable as picking classes or group projects, spending tons of money on books doesn't have to be part of the process. The catch is knowing what you're doing, which isn't as obvious as it sounds, even for students with top-of-the-line spreadsheet skills. Of course, you can still look for the least beat-up copy in the campus bookstore, but that should be just the beginning.

The Web is overflowing with sites claiming to offer the cheapest textbooks around. So, with book prices rising, the cost of higher education higher than ever, and a dreary economy to boot, it'll certainly pay off to spend some time shopping around. Publishers may be resourceful, but students are, too.

An Oligopoly
To say they have to be is an understatement. The General Accounting Office says textbook prices have increased at twice the rate of inflation since 1986. And today, students spend on average about $700 per year on required course materials, according to a 2008 survey by the National Association of College Stores (NACS).

Part of the problem is rising production costs, but the textbook market itself plays a role. The industry is an oligopoly, says James V. Koch, president of Old Dominion University, in a 2006 report by the U.S. Education Dept. Advisory Committee on Student Financial Assistance. According to Koch, five publishers—Thomson, Wiley, Houghton-Mifflin, Pearson, and The McGraw-Hill Companies (Businessweek's parent)—control the market, putting out about 80% of all college texts.

What's more, Koch says, the textbook market is unique. Unlike markets for most consumer products, where demand is generated by consumers themselves, textbook demand is created by another group: the faculty choosing texts for their classes. That makes it possible for publishers to introduce higher prices without much&mdashlif any—loss in revenue.

Publishers can also introduce "bundled" versions of books—books sealed with additional CD-ROMs or other materials—for higher prices. This means, even if just the book itself is required, students are stuck buying a more expensive version.

Tricks of the Trade
But the situation for students isn't as dire as it sounds. First of all, as some economists point out, students are smart and know how to consume. Yes, textbooks are expensive. But they are expensive at list price—usually the highest price a student can find. The prices charged by most bookstores, online retailers, and even online trading posts are well under this publisher-set price.

As BusinessWeek found out, those retail prices can vary wildly, which is why it pays to shop around. One of the easiest and fastest ways to find the best prices is to use a site that aggregates prices from many retailers. and are good places to start. They both list prices from the most popular Web retailers, such as,,, and even If aggregated searches aren't turning up the results you want, you can go to individual retailers' sites. Make sure to know the edition, author, and publisher of the book you're looking for—some books, on topics such as microeconomics, share the same title for completely different products.

Expect some surprises. Sometimes a retailer will sell the new version of a textbook for much less than a used copy. Abebooks, for example, charges $69.99 for a new copy of Jonathan Berk's and Peter DeMarzo's Corporate Finance and $120.54 for a used one. It's unclear why this happens, but one possibility might be that the owners of the used books simply overpriced their product.

Continued in article

Jensen Comment
Keep in mind that the campus bookstore probably will buy back a book that they did not sell originally.


Thompson Learning's  WebTutor --- 

McGraw-Hill --- 

Prentice-Hall --- 
South-Western College Publishing ---

RJ Interactive Home Page (Online Accounting, Publishing) (Richard J. Campbell)


Computerized Principles of Accounting:

The European Case Clearing House (ECCH) homepage is at 

COLIS:  Case Searching by Internet --- 

COLIS is the single most comprehensive electronic bibliography of management case study and reprint materials in the world. Regularly updated, COLIS contains abstracts of over 30,000 case studies, journal article reprints and supplementary materials, many with inspection copies on-line for immediate previewing.

In December 2003 99 new on-line inspection copies were added to COLIS. The total number now available to view on-line is 7,358. 

Electronic Delivery

Who is eligible?
Electronic delivery is only available to full educational and corporate members of ECCH.

What is available?
Case masters
The facility to reproduce cases in-house is available to eligible organisations. In granting permission to copy, ECCH supplies a complimentary case master and charges for the number of copies to be made for teaching
*. The member organisation has the choice of receiving the master in either paper or electronic format**.
Teaching notes
A large proportion of the cases distributed by ECCH have accompanying teaching notes which are available separately. These may be delivered electronically
** for use only by named faculty members in educational organisations and named trainers in corporate training departments.

What are the advantages?
Electronic delivery eliminates shipping charges and ensures case materials are received within one working day

How does it work?
Materials delivered electronically will be supplied as sealed (ie encrypted) pdf files, thus fulfilling ECCH security requirements. Customers will receive the sealed files as an e-mail attachment.

If you require further information or you would like to see a demonstration please contact Lucy Baldwin at or on 
+44 (0)1234 756420.

EECH has, with the co-operation of most case-authoring institutions, recently introduced a concessionary pricing program (CPP) to provide business schools in 65 underdeveloped nations affordable access to cases for use in public education programs --- 

Until now, ECCH's efforts have concentrated largely on encouraging the use of cases within business schools and companies situated in the developed economies of the world. Schools in developing countries have been effectively excluded from obtaining ECCH's materials due to price.

In response, ECCH has introduced a scheme (CPP) to make cases and associated materials more accessible to educational institutions in the developing world.

Top Ten Emerging Technologies According to CFO Magazine in October 2002

2. Business Intelligence
3. Wireless Connectivity
4. Grid Computing
5. Multivariable Testing (MVT)
6. Digital Cryptography
7. Rich Media
8. Internet2
9. Biometrics
10. Small Technology

XBRL tops the list.  Bob Jensen's threads on XBRL are at 


You can order back issues or relevant links management and accounting books and journals from MAAW ---

Free Access to Back Issues of The Accounting Review --- 

International Accounting News (including the U.S.) and Double Entries ---
        Upcoming international accounting conferences ---
        Thousands of journal abstracts ---
Deloitte's International Accounting News ---
Association of International Accountants --- 
WebCPA ---
FASB ---
IASB ---
Others ---

Gerald Trite's great set of links --- 

Richard Torian's Managerial Accounting Information Center --- 


Social Accounting

Ethics Study

Hi Iman,

There are many useful sites, and I am sorry to say that I have not cataloged Websites on social accounting.  A few sites that might help you get started are listed below (although not all links are focused at financial reporting):

Introductory Reading Lists 


Journals --- 

Special Issue of the European Accounting Review --- 

The Ecologist --- 

UK Organizations --- 
Especially note the Subject Guides

Ponemon --- 

India and Bangladesh ---  


Social Indicators --- 

Impact Assessment 

Radical Disclosure Theories --- 

Unaccountable Accounting --- 


Great Old Stuff

PHANTASMAGORIC ACCOUNTING: Research and Analysis of Economic, Social and Environmental Impact of Corporate Business (Sarasota, FL: The American Accounting Association, 1977).

Hope this helps!

Bob Jensen

Dear Dr. Jensen,

My name is Iman Aref. I'm a student at the American University in Cairo, majoring in Accounting. I'm currently doing a research paper on the Social Responsibility of Financial Reporting. I was wondering if you know of any credible websites or links you can refer me to?

I did try searching the WWW for the topic, but unfortunately, I was unlucky.

Thank you for your help.

Iman Aref


Bob Jensen's Brief Summary of Accounting History --- 

History of the Securities and Exchange Commission (SEC) --- 

Shared Accounting Courses and Other Materials

Shared Open Courseware (OCW) from Around the World: OKI, MIT, Rice, and Other Sharing Universities ---
Free online electronic literature, including free textbooks ---

Free Mathematics and Statistics Tutorials ---

Free Science and Medicine Tutorials ---

Free Social Science and Philosophy Tutorials ---

Free Education Discipline Tutorials ---

Teaching Materials (especially video) from PBS

Teacher Source:  Arts and Literature ---

Teacher Source:  Health & Fitness ---

Teacher Source: Math ---

Teacher Source:  Science ---

Teacher Source:  PreK2 ---

Teacher Source:  Library Media ---

Free Education and Research Videos from Harvard University ---

VYOM eBooks Directory ---

From Princeton Online
The Incredible Art Department ---

Online Mathematics Textbooks --- 

National Library of Virtual Manipulatives ---

Moodle  --- 

The word moodle is an acronym for "modular object-oriented dynamic learning environment", which is quite a mouthful. The Scout Report stated the following about Moodle 1.7. It is a tremendously helpful opens-source e-learning platform. With Moodle, educators can create a wide range of online courses with features that include forums, quizzes, blogs, wikis, chat rooms, and surveys. On the Moodle website, visitors can also learn about other features and read about recent updates to the program. This application is compatible with computers running Windows 98 and newer or Mac OS X and newer.

Some of Bob Jensen's Tutorials


Damodaran Online: A Great Sharing Site from a Finance Professor at New York University and Textbook Writer ---

Jim Mahar's finance sharing site (especially note his great blog link) ---

Financial Rounds from an anonymous finance professor ---

The AICPA Issues Business Fraud Case Studies ---
TheAICPA has made its Year 1992 through Year 2000 Accounting Educators Conference Professor/Practitioner Cases available.  See 
Accounting Coursepage Exchange (ACE) - American Accounting Association
Jensen & Sandlin Survey of U.S. Accountancy Education Programs
Bob Jensen's Web Site
Innovation in Accounting Education Award 1999 Submissions to the American Accounting Association
(I will review some of these documents in future editions of New Bookmarks)

AICPA Professor/Practitioner Case Development Program
Please be informed that the winning case materials (student notes only) are now available on the Institute Web site at
ACCT 5341 (International Accounting Theories)
ACCT 5342 Accounting Information Systems
Study Web
WebCT Homepage (Wayne Ingalls' Accounting Courses)
Accounting Theory Course in Australian National University)
Brown and O'Leary Tutorial
6E:002 RealAudio Lecture Home Page (University of Iowa, Real Audio)
Introductory Accounting I Virtual Course (Barry Rice, Loyola College)
Management Accounting Modules
OptionSource.Com Home Page (Options Trading Tutorials)
AC3029Accounting Systems
Stonehill College: Programs in Accountancy
KenyonCollege - Academic Projects on the Kenyon Web
Favorite Sites -- Accounting, AIS & MIS Students & Professionals (Shared Course Materials)
Favorite Sites -- Accounting, AIS & MIS Students & Professionals (Accounting and AIS Links)
AAA IS/MAS Homepage
Management Accounting Section of the American Accounting Association
Management Accounting Modules
Accounting and Financial Information
Welcome to CAROL (online annual financial reports)
Master Budget-Master Index
Peter Kenyon at Humboldt State University
SMAP 96 Homepage
Spiceland's Course Resources
G. Gray at CSUN
Great Ideas in Teaching Accounting
Intermediate Accounting - UC Santa Barbara
Introduction to Management Accounting
NSNS Syllabits: Accounting Syllabi
Riding the Information Superhighway - Course Syllabus
Slides on "Why [Study] Accounting?"
Tax Resources (U. of Iowa)
Tax World Homepage
US University's Accounting Departments
High Q Learning Products - Courseware - Software - Accounting Courseware, Accounting Education, Accounting Training
Consumer Behavior Book With Online PowerPoint and Cases
AC3029 Accounting Information Systems (AIS)
Yale SOM Accounting Home
Every now an then I stumble on a very helpful website with many links. One of these is @theBeech from SUNY College at Fredonia. Thank you Fredonia for sharing these links on education in general and on accounting education in particular  The main website is at 

Learning Skills Links --- 
Teaching Resources Links --- 
The above links are very comprehensive --- I recommending making bookmarks on these pages.

For other education links go to 

Some Course Web Pages Supported from SUNY College at Fredonia --- 

Newsgroup messages are located at 

Some Accounting Career Information from SUNY College at Fredonia --- 
This is a great website with lots of useful links about accounting careers, continuing education, and certification specialties.  
In particular, note the Accounting Career Information Link at 

From Phil Livingstone, President of the Financial Executives Institute (since this is linked from the Download Archives that anybody can access, I assume that this Excel Workbook is available to the general public)

Acquisition Model - Bruce Valentine, CFO of McStain Homebuilders, and a member of the Rocky Mountain Chapter, contributed a great Excel workbook for pro forma acquisition modeling. It takes the historical and projected results of the seller and buyer and combines them with consideration of the accounting and tax treatments. Thanks so much to Bruce for this great contribution to all FEI members. I’ve known and worked with Bruce and he is a bona fide rocket scientist. 

I believe FEI’s future will contain much more model- and presentation- sharing. Please think about the tools you use or tools you need and send me e-mail if you want to contribute something or are looking for a particular tool. Web-enabled tools for information sharing and analysis should be a priority.

Go to (Then click on MS Excel Acquisition Model. Bruce Valentine)

Charles A. Dice Center for Research in Financial Economics  


The New Hampshire Society of CPAs has a rather nice service providing abstracts of articles of interest to accountants --- 

Shared Courseware in Business and Finance

Index for ACCT 5341 (International Accounting Theories)
Study Web
Developing World Wide Web pages at Cornell
Lessons from Business School Web Sites
University of Newcastle Department of Economics
Finance--UC Berkeley, Brad De Long's Shared Course Materials, Shareware, Education)
Pamela P. Peterson (FIN 3403, Accounting Financial Statements, Shared)
Homepage For David Boldt (economics education)
Charles A. Dice Center for Research in Financial Economics

Shared Accounting Resource Materials

Bob Jensen's Links

Globalization Strategic Alliances Roundtable (GSAR), Berlin, Germany, June 22, 2001 ---

Accounting Journals Index
Accounting, Finance, Business, and Other Glossaries
Jensen & Sandlin Survey of U.S. Accountancy Education Programs
AuditNet Home Page  (Includes link to Auditors Sharing Audit Programs (ASAP) page
Business Resource Archive - Accounting
Online Calculators

Guides to using a financial calculator without having to be confused by the manual  

Ernst & Young LLP - Download Library - SFAS 133 Financial Instruments Derivatives
Ernst & Young LLP - Download Library - SEC Rules on Financial Instruments Derivatives
InfobyteHomepage (Accounting, General Ledger Software)
Wow International Accounting Helper Site 
Paul is a former student during my years at Michigan State University and has been project director of various FASB and IASC accounting standards before joining Deloitte on special assignment in Hong Kong.

Hello Bob,

As part of my work at Deloitte here in Hong Kong, I have developed IASPLUS, which is both a web site ( and a quarterly printed newsletter (the latter is available on the website in electronic form).  The website and newsletter are devoted to the development, dissemination, understanding, and use of International Accounting Standards.  Both include country-specific information -- currently limited to Asia but soon to be expanded to include Europe and beyond.

I thought these might be of interest for your bookmarks.

I enjoyed our panel together at the AAA.  I hope to see you this summer at the Atlanta meeting.

Paul Pacter

Reply from John Phillips [jphillip@UOG9.UOG.EDU] on March 7

This is a great site it provides details not only on IAS but on the countries of the world as to their accounting standards and CPA organizations

Distributed Network General Ledger Software and Services 

Bob Jensen's Threads on Webledgers for Distributed Network Computing of Accounting Systems and Business Services

Just for Educators from the AICPA --- 

Accounting Education: Charting the Course through a Perilous Future
Taylor Report on Student and Academic Research Study
AICPA Core Competency Framework for Entry into the Accounting Profession (The Framework)
150-Hour Education Requirement
Academic and Career Development
Best Academic Practices
CPA Examination Reformation and Computerization
CPA Vision Project
Curriculum Development Guidance
Education Programs and Services
Educational and Professional Updates

Free CPA Review Course ---

Center for Financial Research & Analysis, Inc.

CFRA, Inc. Launches Free On-Line Service for Academic Community

Rockville, MD - August 1 - The Center for Financial Research & Analysis (CFRA, Inc.), a leading provider of independent research to over 2,000 institutional investors, will now offer an academic version of its product to professors and their students. Since there is no cost for this service, its use is restricted for research and teaching purposes.

What's included with the Academic Version?

1. Access to all educational pieces in our database. 2. Access to selected company-specific reports that focus on quality of earnings issues 3. Weekly e-mail notification of new companies added to the database

Who qualifies for this service and how can you sign up?

All professors teaching courses in financial accounting, auditing, and finance qualify. To sign up, click on the URL  and register. Then sign and fax the agreement to (301) 984 8617. Once activated, you will have access to the Academic Version of CFRA's database.

About CFRA

CFRA has become known internationally for its pioneering research ferreting out companies with operational problems that use unusual accounting practices to camouflage such practices. Founded in 1994 by Dr. Howard M. Schilit following a 20 year career as an accounting professor (author of FINANCIAL SHENANIGANS: How to Detect Accounting Gimmicks and Fraud in Financial Reports)  CFRA provides a daily on-line news wire of financial analysis and a database on over 900 companies. Its mission is to warn investors and creditors about companies experiencing operational problems and particularly those that employ unusual or aggressive accounting practices to camouflage such problems.

Howard Schilit  
301-984-1001 ext. 105

The University of Kansas International Business Resource Connection 

The IBRC, a business outreach program of the Center for International Business Education and Research (CIBER) within the School of Business at the University of Kansas, was created to encourage trade opportunities and expand international business education. Through strategic alliances with major partners (including the U.S. Department of Education and the Kauffman Foundation), private sector affiliates, faculty and students at the University of Kansas, the IBRC assists small and medium-sized Kansas companies explore available trade opportunities and broaden international business skills. Particular emphasis is placed on the emerging role of electronic communication resources (the Internet) in developing international business opportunities for firms located in the heartland of the United States.

Also, don't forget Paul Pacter's great international accounting site at 


AMIS Faculty Home Pages
Fisher College of Business
In the Classroom
Waleed Muhanna's Home Page

Accounting Software and Related Software

Accounting Textbooks, Software and Instructional Aids

Wikipedia has a rather nice summary of accounting software at

Bob Jensen’s accounting software bookmarks are at

For Educators
Bob Jensen's threads on tools and tricks of the trade are at

"So you want a new desktop accounting package?" by David Carter, AccountingWeb, June 5, 2007 ---

David does not mention my oft-preferred alternative of a Webledger system (such as NetSuite) that can be accessed at a range of needs and sizes and prices with some huge advantages over installing accounting software on your own hardware --- at

Bob Jensen's helpers on accounting software alternatives are

The Tax Adviser:  2019 tax software survey ---

2018 CPA Journal:  Finding the Right Tax Software ---

Peachtree Accounting Practice Sets ---

"Technology 2012 Preview: Part 1 Experts explain what should be at the top of your tech wish list for the new year,"  by Jeff Drew,  Journal of Accountancy, November 2011 ---

December 3, 2011 message from Rick Newmark

For collaboration tools, we used Sharepoint in our intro to MIS course, which is required for all business students. Since we adopted Pearson products, Pearson provided with the full version of Sharepoint and 200 access codes. Students can rent the ebook for 180 days on Coursesmart for $24 (list price of hard copy is $56). My techphobic students struggled with learning Sharepoint, and all of us, I included, did take some time to get the hang of it. I think Sharepoint makes a great tool for an AIS course because students have to make many security/control/access decisions for their own group sites. For example, what kind of permissions do you grant to various people/groups? How are you going to control access to documents? Are you going to use check-out/check-in for documents or are you going to let multiple people edit simultaneously?

I am going to use it in my graduate AIS course next semester for the reasons stated above and because they will likely use Sharepoint or some other set of collaboration tools in their professional careers.

Rick Newmark


Business Technology from Business Week Magazine ---

The Journal of Accountancy has a great monthly technology section (with particular focus on things you never, ever thought you could do with MS Office, particularly Excel) ---
The Q&A modules are particularly informative and should be centralized in one place in addition to monthly editions.

Bob Jensen's threads on accounting software ---

Bob Jensen's threads on education technology ---

RIP:  The End of Microsoft Office Accounting
Microsoft is formally backing away from the small business accounting market after announcing that the Office Accounting program will no longer be distributed after November 16, 2009. In addition, the Microsoft Professional Accountant's Network (MPAN) will no longer accept new members as of that date.
AccountingWeb, November 4, 2009 ---

Bob Jensen's accounting software threads are at


Software Buying Guides
 SMB Finance and Accounting Checklist

February 6, 2008 message from CHRISTINE KLOEZEMAN [ckloezem@PRODIGY.NET]

At Glendale Community College in California we teach our Financial Accounting and Basic Accounting without a computerized accounting program. I have previously included both a tutorial computerized accounting program and later a commerical accounting program. It took too much time out of the class that meets 5 hours a week.

Instead we have a Computerized Accounting class that uses Quickbooks Pro that is required for the Accounting AA. We also have Payroll accounting that uses Quickbooks pro. We were using Business Works (lower version of MAS 2000) but Quickbooks was suggested by our Advisory Committee. We also have a Advanced Computerized Accounting class that teaches Peachtree and others. We also require students to take Excel to get both a certificate and an AA.


February 6, 2008 message from Carol Flowers [cflowers@OCC.CCCD.EDU]

We have the financial /managerial accounting class meeting 5 hours per week and using epacks. However, we have a "computerized accounting" course that stands alone and is required for an AA degree. In that course, the student completes an integrated accounting package and also excel. We also offer stand alone courses in Quickbooks, Payroll and MAS 90/200.

We have found that our population learns the concepts better with pen and paper (for lack of a better word) and then we use the Computerized Accounting to re-enforce their principles while exposing them to industry software and excel.

June 7, 2007 message from Ray Slager [slgr@CALVIN.EDU]

I wonder if anyone is currently using commercial software in their courses. I tried to use QuickBooks at one time but the company makes it very difficult to use. First of all it must be loaded on each computer - not on the network. Secondly it needs to be updated each quarter for the payroll module to work and of course the entire package must be "upgraded" every two or three years. Does anyone know if this is still the case?

Does anyone use other commercial software that is easier to administer? I currently am using MYOB and find it very easy to use. I currently am looking at their latest version and think it is very promising. It can be loaded on a file server and comes in a "10 pack" - good for use on 10 computers for about $300.

Ray Slager
Calvin College

June 7, 2007 reply from Davidson, Dee (Dawn) [dgd@MARSHALL.USC.EDU]

We use Peachtree and get the software free for the network. Use this link. 

Find the license and application forms. Fax them to Peachtree and the software CD will be mailed to you. They send you last year's version - we just received 2006 - but the changes are very minimal year to year. Each spring we send in the forms and get a new CD to be installed on the network for the following school year. We develop our own exercises, but they also have education material available. Hope that helps.

dee davidson
Leventhal School of Accounting
Marshall School of Business
University of Southern California
(213)740-5018 tel (213) 747-2815 fax 

June 7, 2007 reply from Formosa, Jim [Jim.Formosa@NSCC.EDU]

We are using QuickBooks but are looking at Microsoft's accounting software for small business. We have the same problems you describe with QuickBooks.

Jim Formosa, MS, CPA
Certified Senior WebCT Trainer
Associate Professor of Accounting
Nashville Community College
615-353-3420 FAX 615-356-1213

June 7, 2007 reply from Fisher, Paul [PFisher@ROGUECC.EDU]

I have found that Peachtree is much better. I am running an older version, but it does not seem to matter. Peachtree provides an educational version that does not lock the student out after 25 visits, and does not have the payroll deadfall. It also has a "tutorial"

embedded that makes it almost textbook free if you are willing to produce class handouts. I am going to be attempting Timberlake for a construction program. Anyone have experience in that?


June 7, 2007 reply from Prachyl, Cheryl L [cprachyl@UTA.EDU]

I use Peachtree. They provide a free educational site license. The educational version is one year behind the currently marketed version, but I don't find that to be a problem.

I tried using Quickbooks for one semester but we had no money in our budget to purchase the software. We got a donation to the department for a one year site license but we had problems with the installation in our labs.

I have found that Peachtree works well. It also can reinforce the "cycle" approach to business through the navigation aids.

Cheryl Prachyl
University of Texas at Arlington

June 7, 2007 reply from Leslie Kren [lkren@UWM.EDU]

I use SAP in my cost management courses. SAP is the leading ERP system and using it in the classroom provides exposure to the 'big systems' most of our students see in practice. The startup cost for me was quite high several years ago, but now the SAP University Alliance is quite active and provides summer workshops and substantial assistance with instructional materials to interested faculty.

Leslie Kren, PhD, CPA
Associate Professor
Lubar School of Business
University of WI - Milwaukee
3202 N. Maryland Milwaukee, WI 53201
414 229-6075 fax: 414 229-6957 

June 8, 2007 reply from David Fordham, James Madison University [fordhadr@JMU.EDU]

I guess my answer is no and yes. I don't use it in class, but I use it in the course.

The first half of our basic systems course is spent on systems concepts relating transaction cycles and the traditional accounting systems flows and operations. We don't demonstrate any commercial software, we mainly concentrate on manual paper document flow to teach them the use of documents like reqs, PO's, receiving vouchers, invoices, etc. and mention that "most of this flow is now computerized." During the second half of the course, while the classroom activities are covering stuff like REA (organization), XBRL (retrieval and reporting), SDLC, information security, PoET, networking, etc., the students are engaged in a lengthy homework assignment (5 weeks long): a group project wherein they, without help or assistance from anyone, keep the books for a small hypothetical company for a month (the shoebox full of receipts concept), by using a commercial software package of their choosing.

They not only choose the package, they must buy it, and then teach themselves how to use it, on their own. This includes setting up the master files, creation of the chart of accounts (or modification of the stock chart to eliminate the hundreds of fluff accounts not required by this company), entry of the month's of data, creation of reports (including some involving the report writer), plus the internal controls necessary for the company to use their particular software package, which might involve form design and creation, etc.

The project is done in student groups (3, 4, or 5 students). The students must first evaluate several packages, and then get approval from the professor for the package of their choice. Since I don't use a textbook for the main part of the course, I expect them to pool and spend their "Textbook" money on a legal copy of the commercial software ($150 per student should give them about $400-700 for software, although some groups try to find suitable packages for under $300). I'd say the average group spends about $400 for their software.

The case is complex enough that the "demo" versions and the low-end versions of packages like Quickbooks and Peachtree absolutely won't suffice. In fact, even the mid-range versions won't be usable UNLESS the group goes to a heckuva lotta trouble designing manual internal controls, in which case their controls usually begin interfering with the efficiency and effectiveness of operations. What's more, low-end package groups often must resort to additional tools to provide some of the required reporting information: excel, etc., and eventually their accounting "system in toto" begins to get quite cumbersome. Students learn valuable lessons in software features versus advertising, features vs. usability, software-based controls vs. manual controls, etc. Plus, during the evaluation phase, they get to compare packages based on the criteria we cover in the first part of the course vis-a-vis the handling of the critical/non-critical data elements, transfer of data between job fun! ! ctions within the company, etc.

They learn one package well enough to put it on their resume, and they get some exposure to one or two others. The fact that they learn it on their own surprises most of my colleagues from my generation, but I've found that after having the accounting system concepts explained to them, and getting some "manual or semi-automated" transaction cycles demonstrated and illustrated, they can pick up the software a whole lot better than my generation. They use the tutorials, they use on-line help (they can use any aid except for a living human -- they can't use email help, for example -- but they can use existing on-line user group posts, blogs, etc. as long as they haven't posted something to the source in question). They get two 30-minute "consulting" sessions with the professor if they get in trouble. Most groups need at least one of those sessions, but I never need to teach them how to use the software, their problems are usually more related to efficiency vs. controls.

Yes, it is a boatload of work, for both the students and for me. But the project counts the same as one of the two major exams, and although they complain about the amount of work while they are doing it, in the end, their deliverable is immensely personally satisfying. Very few of them recocmmend dropping the project from the course (or even scaling it back) in the end-of-course evaluations.

The ability of today's students to rise to the challenge of teaching themselves the intricacies of today's complex commercial software is truly amazing to some gray-haired baby boomers like myself. Thus, I don't spend class time on any commercial package anymore.

(Yes, some groups do make some mistakes in their selection, and learning from their mistakes often turns out to be one of the most effective learning strategies.... this is education, after all, and mistakes aren't fatal.)

So we use commercial accounting software in the course, but not in class.

David Fordham
James Madison University

June 10, 2007 reply from Tom Sentman

Hi David,

I really like your approach to exposing students to accounting software in your class.

Do you teach this course to beginning or second year students?

What are some of the accounting software packages your students have used?

Is there a way that I could obtain an outline and/or syllabus for your course? It would be most appreciated.

Tom Sentman
Springfield, MO

June 11, 2007 reply from David Fordham, James Madison University [fordhadr@JMU.EDU]

Tom, my course is designed to be taken in the junior year, but some put it off until the first semester senior year. Students arrive having taken principles 1 and principles 2, plus Intermediate 1. Some have also taken Intermediate 2, Tax, and a few have even taken Cost. My course is the pre-req for auditing.

Students have used lots of different packages, but the high-end Peachtree Pro Plus, Great Plains, Microsoft Small Business Pro, and similar packages (those in the $250 to $500 price range) seem to be the most popular. My case calls for more than simple 'sell four products to two customers'. It requires departmental sales reporting, consignment, commissions, differing terms for different customers, taxable and non-taxable sales, different tax rates, freight prepaid and collect, FOB shipping point and destination, and even some non-traditional stuff (I call them "easter eggs" because the students have to find them -- critical thinking exercise!) such as a sale that isn't really be a sale, a sale that might or might not be a sale, a purchase that isn't really a purchase, etc... I don't stick to the easy accrual/deferral stuff, I want them to have to stop and think. The reports I ask for are analyses not normally found in the $19.99 packages.

I use Blackboard for the course, and my institution is pretty stingy with the guest log-ins since we put copyrighted materials on our Blackboard webs. Can you give me a personal email and I'll shoot you a PDF copy of the syllabus and course calendar.

The case is one that I came up with. I've been using it and polishing it for about 15 years, and about a dozen other AIS profs (including Nancy Bagranoff) have used it too, but no one is interested in publishing it -- I'm too busy to waste time coming up with the darn "learning bjectives", "teaching notes", and "assessment instruments" junk that the gatekeepers demand these days. (I'm at the point in my career where I don't have to lick quite as many boots as I used to, back in the days when I was young and foolish...) I'll be happy to send you the case and give you permission to use it if you think it would help your students. Like I said, it basically is an exercise in thinking as well as software learning. What I like about it is that the students have to do this "on their own", with only two "consulting sessions", so it forces them to think before they come into my office. It is amazing how many students rise to such a challenge and can think and think well when calle! ! d upon. And as I said before, learning software is something that the kids today can do with their eyes shut (... or glued to their iPhone, or YouTube, or MySpace, etc.)

David Fordham
PBGH Faculty Fellow
James Madison University

New and enhanced features in QuickBooks 2010 ---

39 Free QuickBooks Online Tutorials ---
Thank you Crystalynn Shelton and Kristian Rivera --- |

2008 Quickbooks Update

December 12, 2008 message from Scott Bonacker [lister@BONACKERS.COM]

Hello Scott,


Thank you for contacting me.  Here is some information for your records.  Click on any of the hyperlinks below for more information and please let me know if you have any questions. 

The Instructor's Resource Center for QuickBooks is located at Go to Register Now and enter your institution's information.  If you do not have your license number (it is a required field) you may enter "IEP" in the license number field.    This will give you full access to the fifteen lesson plans, reviews and PowerPoint presentations.  The lesson plans are for your use only.

DON'T FORGET the Educator's Corner!  Discussion forums, tools, resources and allows the sharing of curriculum from review exercises and quizzes to test questions. 

Pricing is as follows for software used for instructional purposes:    Site licenses come with a 2 year site license agreement to be filled out by the user and returned to Intuit.   Site licenses are strictly for classroom installation for instructional purposes.

NEW ! ! - QUICKBOOKS PREMIER ACCOUNTANTS EDITION IS HERE - Access other versions of QuickBooks 2009 through the Accountants Edition with the toggle feature. Click here to learn more!   The appearance and basic workflows are the same as Pro, but you will also have access to all versions of QuickBooks 2009 (Simple Start, Pro and all of the Industry Specific Versions).  

    • 10 Pack $259.95 - QuickBooks 2009 Premier Accountants Edition for Windows  
    • 25 Pack $399.95 - QuickBooks 2009 Premier Accountants Edition for Windows   
    • 50 Pack $599.95 - QuickBooks 2009 Premier Accountants Edition for Windows   
    • 2008 QuickBooks Student Guide $36.95.  The 2009 text is be $45.95, and includes a 140 day trial CD that student can install on their personal equipment.
    • QuickBooks Pro Academic Version  - CLICK HERE for eligibility requirements and description 

QuickBooks Pro for their individual academic use at a special discounted price:  Bookstores can purchase four or more licenses at 15% discount direct through Intuit's Education Program.  Students can purchase independently by contacting one of Intuit's approved resellers:  Academic Superstore, (800) 817-2347 or Genesis, (800) 433-6326.

QUICKBOOKS USER CERTIFICATION   CLICK HERE for more information. Get 50% off the regular price!  Get the Training & Exam for only $49.98!  Please let me know if this is something you would like to include in your curriculum.   I will need to assign a code to your class so they receive the discount.  Initially each user will need to sign up for the certification through the web site.  Bulk pricing and sign up will come at a later date.   



Additional Resources and Tools      

20% off Interactive CD Training! -  A great tool to help you learn and teach QuickBooks in your classroom.  Wonderful for overhead presentations.

ProSeries PowerTax Library - Free software for educators. For classroom/instructional purposes only. Click here to view the License Agreement

Ordering Information

FAX or email - DO NOT MAIL - Purchase Orders and State Tax Exempt Certificate to 520-844-6412 or

The Intuit payment address that will appear on your invoice is Intuit Inc., PO Box 513340, Los Angeles, CA 90051-3340

Credit card and EFT orders are also accepted

If you have any questions, please feel free to contact me.  


(866) 570-3843 - Fax 520-844-6412 -

Bob Jensen's threads on accounting education software are at

Bob Jensen's threads on accounting software in general are at

Peachtree Accounting Practice Sets ---

New and enhanced features in QuickBooks 2010 ---

Also see Accounting Software at 

Excel, JavaScript, and Other Helpers and Videos ---

Free Access to Back Issues of The Accounting Review ---

Auditing and Audit Sampling Software

May 2, 2006 message from Douglas Ziegenfuss [dziegenf@ODU.EDU]

I teach a graduate IT Auditing course in which we use both ACL and Idea. Both are taught because both are used in the business world. We use the version of ACL that comes with Hall's IT Auditing book. Idea sells the students a version and workbook for $25 per student and gives us a free copy of the software and workbook. The students then load the software on their laptops and bring them to class. This turns any classroom into a lab. The students generally like IDEA better but still enjoy ACL.

I hope this helps.

Douglas E. Ziegenfuss
Professor and Chair,
Department of Accounting
Room 2157 Constant Hall
Old Dominion University
Norfolk, Virginia 23529-0229

ACL Business Assurance Analytics ---
ACL is bundled with some auditing software textbooks, such as the Rittenberg text --- Click Here 

IDEA Data Analysis Software ---

May 2, 2006 reply from Roger Debreceny [roger@DEBRECENY.COM]

Over the years I have switched between ACL and IDEA. I currently use IDEA in my teaching. A major factor is that students greatly value having the ability to work on their own computer. I do not think there are substantial differences between the products or that the file size restrictions is a major problem.


Bob Jensen's threads on accounting and auditing software are at

Top Ten Emerging Technologies According to CFO Magazine in October 2002

2. Business Intelligence
3. Wireless Connectivity
4. Grid Computing
5. Multivariable Testing (MVT)
6. Digital Cryptography
7. Rich Media
8. Internet2
9. Biometrics
10. Small Technology

XBRL tops the list.  Bob Jensen's threads on XBRL are at 

Recommended Reading in Accounting, Finance, and Business

"Recommended Reading," by Beckey Bright, The Wall Street Journal, March 26, 2006 9:21 p.m.; Page R2 ---

Bookkeeping and Accounting

 "Streetwise Finance and Accounting ... How to keep your books and manage your finances without an MBA a CPA or a PhD," By Suzanne Caplan
"While sales and marketing are the driving forces to get the cash register ringing, it's the dull task of crunching numbers that determines what the business owner gets to keep! The problem is that most small business owners hate dealing with numbers. This book is an easy to understand primer for the business owner who wants … and needs … a basic understanding of accounting and finance."
 "Small Business Accounting Simplified," By Daniel Sitarz
"Every year tens of thousands of small businesses fail because the owners have been unable to manage their financial affairs properly. Simplified for use by nonaccountants, this book explains the fundamentals of small-business bookkeeping in plain language and provides a comprehensive set of clear and understandable forms for tracking a small business's finances."

Finances and Investing

 "Savvy Investing for Women," By Marlene Jupiter
"This book takes a basic approach to help readers understand the world of money and investments, how to evaluate your risk tolerance, and how to create and manage a wealth-building strategy that works. Whether you are just starting out in the work force, recently inherited a family fortune, or have arrived at the peak of your career, it presents a very good base of information on strategic investing and protecting your assets as your life changes."
 "Wake Up and Smell the Money," By Ginger Applegarth
"For those of you who have come to realize that if your stock broker was so smart he (or she) would be retired by now, it's time to take a hard look at your financial habits and get some good old fashion money smarts. This book offers readers an excellent guide to build wealth on real street savvy time tested methods. While this book doesn't promise you a windfall or that you will become a multi-millionaire … it does offer valuable advice and guidance and just might be the best investment you'll make this year."
 "Values Based Financial Planning," By Bill Bachrach
"While there is a never ending stream of books on investing, most of the books were written by people who presume the reader already has bushel baskets of money lying around to invest. So what about the people who are not at the point where they have substantial money to plant and grow? This book takes a solid business approach to financial planning and a program similar to a business plan. In other words, one philosophy doesn't fit every person. Before you can achieve better financial success you have to determine what your priorities are and what will motivate you."


 "Schedule C from A to Z - The Sole Proprietor's Guide to Tax Savings," By Robert Hughes, CPA
"With more and more sole proprietors taking on the task of doing their own bookkeeping and tax returns, not having a solid understanding of what makes up the Schedule C return means that many, if not most, sole proprietors overpay taxes by hundreds or thousands of dollars. This guide de-mystifies taxes that apply to the self-employed with the aim of helping business owners increase cash available to help their businesses prosper and grow. It takes the reader step-by-step through each line of the Schedule C and includes information to help them understand and comply with IRS rules. The updated full version for the 2005 tax year is available at"
 "Tax Savvy for Small Business," By Frederick W. Daily
"Most people don't go into business to be tax experts, but not having a basic understanding of business taxes is an expensive error to make. One of the most common mistakes small business owners make is thinking that they can just turn all their financial matters over to a bookkeeper or accountant. However, the first rule of business finances is that nobody, absolutely nobody, is going to have as much concern for your money as you will! This book is one of the best plain language books on small business taxes. Unless you have an army of accountants working for your business this book is a must read.

Raising Money

 "Where's the Money?" By Art Beroff and Dwayne Moyers
"Raising capital can be frustrating for any business. While there is no book that can guarantee you will find the money you need to start or grow a business, this guide slashes through much of the red tape and confusing jargon to put financing solutions at your fingertips. Unlike many other books on small-business financing, this book offers up expert tips, advice and secrets for writing financial statements that appeal to different audiences, filling out loan applications that get results, anticipating investor questions, and how to present your business, and yourself in a professional manner.
 "Investors in Your Backyard: How to Raise Business Capital from the People You Know," By Asheesh Advani
This is an excellent resource to find the information, documents and calculators you need to put a deal together and negotiate all the particulars to convince people to invest in your business. You'll find step-by-step instructions on how to raise business capital from non-traditional sources such as bank – capital in forms such as gifts, loans or equity investments – from people you already know or who know people you know. Once you have the investment team together Investors in Your Backyard will help you create the paperwork to formalize the deal and protect both sides' interests.


 "Money-Tree Marketing," By Patrick Bishop and Jennifer A. Bishop
Written for business owners who want to achieve higher than normal yields from their marketing efforts, this book helps entrepreneurs generate customers, regardless of the business owner's budget or marketing experience, by keeping to the basics and capitalizing on what the competition "might not be doing". This book helps a small business owner increase their profits by using some unique techniques that entice potential customers into their business. More importantly, it identifies ways to make a business more customer friendly, use a customer profile to get in-depth knowledge about customers and to keep those customers coming back for more.


 "The Legal Guide for Starting & Running a Small Business," By Fred S. Steingold
Legal questions come up everyday that make business owners scratch their head and wonder what to do. Will incorporating your business give you more liability protection? Do you have all the proper permits and licenses? These are just a couple of the hundreds of questions that are routine in everyday business. Having a resource to get a basic understanding of small business legal issues is not any further away than reaching for this excellent resource of street savvy small business legal information.
 "Small Business Legal Smarts," By Deborah L. Jacobs
"This simple to understand book will offer readers enough information about legal issues in business to raise those little red flags in your head when something needs closer attention. Actually, it is more like a big Q&A book and a reference tool with a twist. It's organized completely around the needs of micro and small businesses. This book filters out the legalese and untangles some of the most frequent questions an entrepreneur might encounter."
 "The Employer's Legal Handbook," By Fred S. Steingold
For any employer, with 1 or 50 employees, having access to a well laid out reference book of "answers" is important to staying out of trouble and getting the most out of their employees. In this case this book offers a sensible, real life, approach to dealing with employees and all in easy to understand language from the initial hiring process - and asking or saying the right things - to firing an employee without getting your pants sued off.




Financial Statement Analysis Software

September 3, 2005 message from Angela Lee

Dear Robert Jensen,

In case you missed our demonstration at the American Accounting Association conference in San Francisco, we hope you will find the information below helpful.

FinancialZ, Inc. is a financial software company based in Tempe, AZ. We have an Educational version of our software, Financial Grammar, which is currently being used at universities across the country.

The software is best utilized in managerial finance courses to teach analysis of financial data. It is designed as a teaching enhancement tool to accelerate students' learning of financial analysis concepts (i.e. how to spot red flags). It can be used in either MBA or undergraduate classes. In addition, some of our client-universities currently use it in entrepreneurial courses, financial statement analysis and business development courses. The software is CPA- engineered, (US) GAAP compliant and can be used for AICPA review courses.

In order to download a trial version, go to: . If you look under the PRODUCTS tab, a PDF formatted brochure can be downloaded.

The software can be delivered via CD-Rom or downloaded to the student's computer. The cost is $34.95/per student/per course. If you are interested in incorporating this tool in just one class it can be purchased, by the student, directly from our website using a designated school code.

I invite you to download and experience our software. I will follow up with you again next week to answer any questions that you may have. In the meantime, please don't hesitate to contact me at the number below.

Best regards,

Angela Lee Director,
Marketing FinancialZ, Inc. 480.941.4567

For 20 years Cougar Mountain Software has been a leading developer of not-for-profit accounting software. Many of the nation's largest non-profit organizations and government agencies depend on Cougar Mountain to provide a fully-integrated software solution, powerful enough to meet their growing needs.

Click below to learn more about the Cougar Mountain FUND Accounting® for Windows® software package. 

"Consolidation In The Accounting Software Industy: Two Perspectives," by Scott H. Cytron, --- 

February 16, 2003 message from Gerald Trites [gtrites@STFX.CA

The Canadian Institute of Chartered Accountants has a publication "Information Technology Control Guidelines" which was published in 1999. The book is quite large and there has been some talk about a possible decision support system that might be developed, loaded with the ITCG guidelines, placed on a CD and used in the field for assistance in analyzing system controls for particular systems/companies and developing recommendation letters. I would think the preferred approach would be to find a suitable shell and then build the system around it. In the course of my research of a good system, I came across VP-Expert which at one time was highly recommended, but it is DOS based and appears to be out of date. There is a variety of others. Does anyone have knowledge of a good DS shell that might be useful for this application and that would run on current Windows platforms? It should have run-time capability so the CD can run on its own.

Any advice you might have would be most appreciated.

Gerald Trites, FCA 
Professor of Accounting and Information Systems 
St Francis Xavier University Antigonish, 
Nova Scotia Tel.  
Website - 

The CICA home page is at 

October 12, 2002 message from Scott Bonacker, CPA [

I don't know anyone that is using this yet, but this product may be of interest. It doesn't seem to be all that expensive."...a fund accounting software solution that's designed to meet the specialized needs of nonprofit organizations. Designed as a companion application to Intuit's popular accounting programs

QuickBooks Pro 2002..."

November 29, 2002 message from CompAcct Solutions Ltd. [csl@COMPACCTSOLUTIONS.COM

Our company has recently developed an entry level computer accounting program called Breeze Basic Bookkeeper. We have received a positive responce from educators who have tried the program. The program is designed around GAAP using an approach that you might find in a 1st year accounting textbook. The program was designed by an accountant to do basic bookeeping without the glitz and glitter that a lot of programs use to purposely hide basic accounting principles. You will see no flashy invoice or check screens in this program. Journal entries are made in standard Debit/Credit format in an easy to use Journal Form. The program has a Debit/Credit Helper to assist the beginner get orientated into the proper use of debits and credits.

You can download a Free Demo at 

The price of a single user license is US$69.95. However, Lab Discounts, which combine a volume and educational discount, are available by request for qualifying Educational Institutions. The lab discounts range from 45% to 65% depending on the number of users starting at a 5 user license. Send an email to for complete information on the discounts available and how to take advantage of the discounts.


Software at huge educator discounts  or call us 800-679-7007

Business office software tools (including accounting and tax software)
Phil and Mac's Secret Free Place --- 
Readers should definitely take a look at this annotated software index, although some items appear to be out of date.

A review of accounting software (commercial not academic apps) 

High-End Accounting Software Vendors 
Search the high-end packages that generally target companies with revenues over $100 million. Vendors are listed by the integrated functions, integrated manufacturing, Internet functions, platform, and pricing.

Midrange Accounting Software Vendors
Search the midrange packages that generally target companies with revenues under $100 million, and find which vendors offer the right mix of functions and compatibility.

 Bob Jensen's Threads on Webledgers (e.g., NetLedger) for Distributed Network Computing of Accounting Systems and Business Services

The Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) have announced the launch of a new Web site designed to provide information about money managers, financial planners, and other investment advisors. 

Accounting Software 411 (AS411) --- 

Accounting Software 411 (AS411) is the place on the Web where you can find the latest news and information on accounting software products. This site is targeted to software consultants, software vendors and anyone who is either researching or is interested in information about accounting software and related solutions. Our goal is to create a community whereby everyone can learn and share their knowledge about the accounting software industry.

There is a great review of tax software in the following cover story:

"Ranking the Products," by Stanley Zarowin, Journal of Accountancy, October 2001, pp. 28-32 --- 

Vendor Tax program Address Telephone E-mail address
Saber, Max
and Taxsolver
PO Box 1040,
Caribou, ME 04736
CCH ProSystem fx 21250 Hawthorne Blvd.,
Torrance, CA 90503
UltraTax 7322 Newman Blvd.,
Dexter, MI 48130
Drake Tax
235 E. Palmer St.,
Franklin, NC 28734
1040 Professional
Tax Preparation
6740 Huntley Rd., Suite 103,
Columbus, OH 43229
Intuit ProSeries 2535 Garcia Ave.,
Mountain View, CA 94043
Lacerte/Intuit Lacerte 1040
Tax Software
13155 Noel Rd., 22nd Floor,
Dallas, TX 75244
Micro Vision
Tax Relief 1040 140 Fell Court,
Hauppauge, NY 11788
IntelliTax 13208 NE 20th St.,
Bellevue, WA 98005
TaxACT 2nd Story Software 5925 Dry Creek Lane, NE,
Cedar Rapids, IA 52402
Taxworks By
Laser Systems
TaxWorks By
Laser Systems
350 North 400 West,
Kaysville, UT 84037
Tax Systems
TaxWise 6 Mathis Dr. NW, PO Box 2729,
Rome, GA 30164
Xpress Software Xpress Individual
P.O. Box 280760,
Columbia, SC 29228



Accounting Software Library 

Ed Scribner provided the following links: 

The following has lots of great links. You might have to right click on it and paste it into your browser.,1660,14554%7C121%7C0%7C0%7C1%7Ca,00.html 

The 2/20/01 PC Magazine has an article (pp. 144-152) that includes reviews of ePeachtree 3.0, NetLedger 5.0, Peachtree Complete 8, QuickBooks Pro 2001, and QuickBooks for the Web.  The reviews are linked at:,11011,2678673,00.html

Peachtree Accounting Practice Sets ---

Another great website is Payroll Online at 

A great set of links to electronic journals and databases (unfortunately the software database links now have restricted access)

Accounting Journals Index
ABC Costing Glossary and Software 
Jensen & Sandlin Survey of U.S. Accountancy Education Programs
Bob Jensen's Links to Accounting Software and Vendors
AccountingStudents is the complete online resource for accounting students
Bob Anthony’s Essentials of Accounting multimedia CD ROM
Dan Gode (Accounting Tutorials)
So, you want to learn Bookkeeping! by Bean Counter's Dave Marshall ---
RJ Interactive Home Page (Online Accounting, Publishing) (Richard J. Campbell)
Omnis Mus (George Bodnar)
Bruce Hutton CGA - Accounting: Software, Publications and Bookkeeping Software
Software Vendors
Omnis Mus (a general ledger practice set)
Accpac User Area
Accounting Systems -- Accounting System Locator / Selector
High Q Learning Products - Courseware - Software - Accounting Courseware, Accounting Education, Accounting Training
Great Plains Software - Higher education site
Microsoft's Accounting Industry Page
Peachtree Software  

Peachtree Accounting Practice Sets ---

Solomon Software
The CMA Review Online!
RJ Interactive Home Page (Online Accounting, Publishing) (Richard J. Campbell)
Darrell Walden at U. of Richmond - Accounting Information Systems
TAL Standard Edition "Quick LOOK" AIA Accounting Information Systems
Spreadsheets in Education
Welcome to CAROL (online annual financial reports)
The International Corporate Environmental Reporting Site / Milieujaarverslagen
Charles A. Dice Center for Research in Financial Economics
Accounting Software Vendors Listed on Page 36 of the Journal of Accountancy, September 1999
Products Vendor Contacts
ACCPAC for Windows

ACCPAC International
Craig Downing
Acuity Applications
MAS 90 for Windows
BusinessWorks for Windows
State of the Art
Taylor Mac Donald
Crystal Reports

Seagate Software
Phil Walston
Forest & Trees

Platinum Technologies
John Ulrey

FRx Software
Robert Rohan
Great Plains Dynamics
Great Plains Dynamics C/S+

Great Plains Software
Pamela Kram
Navision Financials

Navision Software--US
Geni Whitehouse
Peachtree Complete Accounting
for Windows

Peachtree Accounting Practice Sets ---

Peachtree Software
Cynthia Williams
Platinum for Windows
Platinum ERA

Epicor Software
Tami Eshelman
QuickBooks Pro 99

Richard Walker
RealWorld Expertise.LAN
RealWorld Expertise.SQL

39 Free QuickBooks Online Tutorials ---
Thank you Crystalynn Shelton and Kristian Rivera --- |
RealWorld Software
Christine Gilroy

Also see 
SAP Software
Ken Bernstein
SBT ProSeries
SBT Executive Series

SBT Corp.
Brian Austin
Solomon IV for Windows
Solomon IV for BackOffice

Solomon Software
Cindy Bechtel
419-424-0422, ext. 485

Open Systems Accounting Software
Amy Reynolds

"Sizing Up NPO Software," Roberta Ann Jones, Journal of Accountancy, November 2000, pp. 28-44 --- 

Software Search Here 

Online Magazine (for Information Professionals) ---

ONLINE is written for Information Professionals and provides articles, product reviews, case studies, evaluation, and informed opinion about selecting, using, and managing electronic information products, plus industry and professional information about online database systems, CD-ROM, and the Internet. This site contains selected full-text articles and news from each issue of the magazine. Direct letters to the editor to Marydee Ojala ( ). If you are interested in writing for ONLINE, please see the Authors' Guidelines.

e-Commerce and e-Business Helpers for Accountants --- 

A message from Julie Smith David [Julie.Smith.David@ASU.EDU
Arizona State University

I teach a course in software selection and evaluation, and the following is a list of sites that I have collected, with the help of several years of students.  The students have to research software products, and they use these sites to find articles, reviews and comparisons.  Therefore, they're not all appropriate for "comparisons," but they all seem to add value at some point in the class.  Perhaps the best for ERP and CRM is (has a selection tool that is REALLY good!).  Intelligent Enterprise is great for CRM, KM, and integration.   Hope these help!

Business 2.0 <> (
Business Finance Magazine <> ( Often has feature articles that highlight technology issues that CFO's and CIO's need to handle.

Business Week Online <> (
Byte Online <> (
CFO <> (
CIO <> (
CNN Interactive <> (
Context <> ( Business Strategies for the Digital Age
Datamation <> (
DB2 Magazine <> ( by BusinessWeek <> (
E&Y's Perspectives on Business Innovation <> (

EAI Journal <> (
ERP News Center by Allen David & Associates <> (

Fast Company <> (
Financial Times <> ( <> (
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Forbes - directly to archives <> (
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IBM Systems Journals <> (
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Information Week <> (
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Red Herring <> (
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ZDNet <> (


American Productivity & Quality Center (APQC) <> (
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ASP Island <> ( An organization serving the application service provider industry

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Center for Virtual Organization and Commerce <> (

CorpTech -- Database of high tech companies <> (
CORBA <> (
Enterprise Integration Council <> ( Organization for Application Integrators

Ernst & Young: <> ( Lots of information about IT, industries, and strategy
ERP Super Site <> (
Forrester Group <,3257,1,FF.html> (,3257,1,FF.html)
Gartner Group IT Vendor Direct <http://gartner4.gartnerwebcom/vendors/static/index.poll.html> (http://gartner4.gartnerwebcom/vendors/static/index.poll.html)

GIGA Information Group <> (
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Intraware's Everything XML <§ion=xml> (§ion=xml)

Intraware <> ( <> (
Meta Group <> (
Netscape's Small Business Source <> (

Object Management Group (OMG) <> (
Solution Matrix: The business case web site <> ( Resources for performing ROI, Cost-Benefit Analysis, and other justification processes.

SPEX for software evaluations <> (
Supply Chain Council <> ( <> ( <> (

"How to Select the Right Accounting Software," by by J. Carlton Colling, Journal of Accountancy, October 1999 --- 

"Sizing Up NPO Software, Roberta Ann Jones, Journal of Accountancy, November 2000 --- 
NPO = Not-for-Profict Organization (including governmental agencies).

Accounting Software Directory 

Each listing includes the manufacturer's name, software titles, platforms supported, price range, web site links and telephone numbers. A brief description of the company's software products is also included. Please note that Software Manufacturers almost always offer technical support for their own products on their respective web sites. Their sites frequently provide excellent business help or have excellent links to other sources for business help. We will mention when a software site includes help or access to resources that are of general interest to businesses of all kinds.

Accounting Software Review --- 

Accounting Software News ---

"Software for Beyond the SOHO and Single-Office Environment"
By David B. Moody, CPA

[ACCPAC] [AccTrak21] [Champion Business Systems] [Cougar Mountain Software] [CYMA] [Database Creations] [DataModes] [eTEK International] [International Accounting Software] [Peachtree Software] [Red Wing Business Systems] [Sage] [SBT] [Sirius Software]

"High-End Accounting: Big Business Features with a Small Business Feel"
By David B. Moody, CPA

[ACCPAC International] [Appgen] [eTEK International] [Macola] [Open Systems] [Sage] [SBT] [Solomon Software] [SouthWare Innovations] [The Versatile Group] [Due-Diligence Table]

CPA Exam Review Courses and Continuing Education (CEP)

Accountancy Career Threads ---

CPA exam requirements by state ---

Bryce Welker:  Tips on Passing the CPA Exam ---

The Uniform CPA Examination Website --- 

From the CFO Journal's Morning Ledger on April 12, 2017

Accountants may need to go beyond their expertise with numbers. The uniform certified public accountant exam began testing candidates on critical thinking, problem solving and analysis at the beginning of the month. The American Institute of CPAs, National Association of State Boards of Accountancy and Prometric announced the change Wednesday. One of the biggest changes is to the "exam blueprints" which have replaced the Content Specification Outline (CSO) and Skill Specification Outline (SSO) as the primary testing element. They identify knowledge linked directly to representative tasks performed by newly licensed CPAs, according to the AICPA. The new assessment will help accountants who are using these skills early in their career “stay ahead of the curve,” said Michael Decker, the vice president of examinations at AICPA, in a written statement

Possibly the Number 1 Resource for CPA Exam Candidates
AICPA:  Uniform CPA Exam Blueprints ---


CPA exam will increase focus on higher-order skills
"What Higher Order Skills Will be Tested on the Next CPA Examination," by Ken Tysiac, Journal of Accountancy, April 4, 2016 ---

. . .

Why the exam is changing
The CPA exam is designed to provide state boards of accountancy reasonable assurance that those who receive passing grades have sufficient technical knowledge and skills to be licensed. The AICPA periodically conducts a practice analysis to ensure that the exam measures the right knowledge and skills to protect the public interest and meet the needs of the boards of accountancy as they license CPAs.

A practice analysis launched in early 2014 collected input from boards of accountancy, state societies, public accounting firms, academics, standard setters, regulators, and business and industry on the knowledge and skills needed by newly licensed CPAs. The research revealed that because of advances in technology and outsourcing of routine tasks, newly licensed CPAs increasingly need to use higher-order cognitive skills and professional skepticism while performing tasks such as planning and reviewing the work of others.

As a result, the research showed, the profession supports changing the exam to enable more testing of higher-order skills that would align more closely with the tasks newly licensed CPAs regularly perform.

“With this practice analysis, we heard from the profession that newly licensed CPAs not only need to have the knowledge, but they need to have higher-order skills,” Decker said. “They need to analyze financial and tax information. And they must be able to think critically and problem-solve in their day-to-day jobs.”

What’s new

The next CPA exam will continue to test in the familiar four sections—Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). The exam will place less emphasis on remembering-and-understanding skills, enabling higher-level analysis and evaluation skills to be tested:

  • The number of task-based simulations, a highly effective way to assess higher-order skills, will increase. Task-based simulations will be added to the BEC section for the first time, and the AUD, FAR, and REG sections each will have their number of task-based simulations increased to eight or nine.
  • Total testing time will increase from 14 to 16 hours. This will accommodate increases of one hour each for the BEC and REG sections. The extra time is being allotted partly because of the increase in task-based simulations. A review found that there is sufficient time for prepared candidates to complete the AUD and FAR sections.
  • Multiple-choice questions and task-based simulations each will contribute about 50% toward the candidate’s score in the AUD, FAR, and REG sections. In the BEC section, multiple-choice questions will contribute about 50% of the scoring, with 35% coming from task-based simulations and 15% from written communication.

In the past, multiple-choice questions were weighted about 60% in the total scoring of the exam. That will decrease to about 50% in the next exam.

“The profession is demanding stronger critical-thinking skills from newly licensed CPAs,” Decker said. “They need to be able to form conclusions in basic areas and identify issues in more complex and riskier areas. And, based on the feedback from our stakeholders, we have designed each of the exam sections based on a task and skill framework to meet those requirements.”

New blueprints for preparation
To prepare for the next exam, candidates will be able to use new blueprints that will replace the current Content Specification Outline (CSO) and Skill Specification Outline (SSO). The blueprints will provide candidates more detail about what to expect on the exam. The blueprints contain about 600 representative tasks, which are aligned with the skills required of newly licensed CPAs, across the four exam sections. The blueprints are designed to provide candidates with clearer information on the material the exam will test, and will show educators what knowledge and skills candidates need as newly licensed CPAs.

Continued in article

A Practice Analysis ---


Free CPA Review Course ---
Not updated for recent changes in exam coverage


CPA Exam Slated for International Debut in August ---

CPA Experience Requirements Vary by State ---  

For more details, check with your state's board of accountancy:

WileyCPAExamExcel:  CPA Exam Students’ Study Tips ---

How a 17-Year-Old Female Passed the CPA Exam ---

Crush the CPA Exam ---

Why Take the CPA Exam ---

The Jr. Deputy Accountant finally got around to Texas:
"Don't Worry, We Didn't Forget Those Texas College CPA Exam Results," Adrienne Gonzalez, Going Concern, February 15, 2012 ---

Jensen Comment
Even though I'm proud of the performance of Trinity University in 2011, once again I remind readers that there is much more variability among small universities like Trinity University that have so few CPA exam takers each year. The University of Texas at Austin is consistently at or near the top in Texas with low variability because it has a relatively large number of CPA exam candidates each year, and UT has relatively very high admission standards for the masters of accounting program. Trinity, on the other hand, is more likely to have good years and bad years due to small sample effects and loss of some of the best graduates (see below).

Because of Trinity has much higher tuition for an accounting masters degree than the state universities, there is some attrition of Trinity's four-year accounting graduates to the state universities, especially to the University of Texas at Austin. It was always sad to lose some of our best graduates to UT, but we knew UT would take good care of them.

Texas CPA examination performances are heavily impacted by SAT/ACT/GMAT exam scores of accountancy graduates. This is consistent with virtually all the other 50 states in the United States. Schools with the highest admission standards will have the higher performing graduates on average.

I don't attribute high CPA exam scores to curricula focused more heavily on teaching toward the CPA examination. When I left Trinity University, Trinity was experimenting with a CPA exam review course at the very strong request of accounting students in the masters program. I did not teach that course, but when I retired in 2006 the professor (Katherine Lopez) teaching the CPA review course was re-assigned to teach my Accounting Theory course. The CPA review course was dropped from the curriculum without having any adverse impacts on CPA exam performance of Trinity's graduates. I might add that when I taught Accounting Theory my students complained that the course really did not help them on the CPA examination. The topics covered (like accounting for derivative financial instruments, portfolio theory, risk metrics, financial structures, and securitization) are considered too complicated for the CPA examination ---

We should not give too much credit to accounting faculty when their top students do well on the CPA examination. Because those students also are top performers in terms of SAT/ACT/GMAT exam scores, those students have more intellectual ability and motivation to get the most out of commercial CPA examination review courses like Becker, Bisk, Gleim, etc.

"Comparing CPA Review Courses," by Junior Deputy Accountant Adrienne Gonzalaz ---

We’ve gone over how to choose a CPA review course in the past but it seems we’ve been getting more emails than usual asking about specific review programs. Due to a potential perceived bias (this author was employed in CPA Review for four years), we have avoided covering this subject in detail until now.

The following list of review courses is by no means comprehensive and we do not endorse any of these courses (unless, of course, they would like to get in touch with our
advertising folks and set up a sweet deal to be pimped out). CPA exam candidates are highly encouraged to do their own research by checking blogs and forums. Coworkers can also be a good source of info but keep in mind colleagues are less likely than strangers on the Internet to be honest about their own performance so take any information you glean from them with a grain of salt.

Many have asked if additional supplemental products are necessary when dropping a big chunk of cash on CPA review. I generally tell candidates to save their pennies, get a $2 pack of index cards and make their own flash cards. Not only do you save money, by writing them out yourself you’ll actually see that you’re understanding the concepts better simply due to the mechanical motion of putting pen to paper.

We’ve included links to CPAnet where appropriate so you can check out actual candidate feedback (the positive and negative) which former students of each of these courses have posted on the forums there.

Becker: Retail Price: $3,065 (all four parts)
Per part if ordered individually: $990 (CPAnet)

CPAexcel: Retail price (Gold Medal option): $1690 (four parts) Per part if ordered individually: $580 (CPAnet)

• Kaplan, Gleim and Bisk: Considered self-study or supplemental, check CPAnet for feedback on these courses.

Roger: Retail Price: $2095 – $1695 (all four parts) Per part if ordered individually: $595 – $695 (CPAnet)

Wiley: Price varies based on options. (CPAnet)

Yaeger: Retail price: $1787 (four parts) Per part if ordered individually: $545 (CPAnet)

This is where our lovely GC readers come in. We know you all are really proud of how you’ve kicked the CPA exam’s ass, so please let us know in the comments what worked for you. If you all can get extra excited about this, we can put together a GC reader CPA review deathmatch based on your input.

Note: prices current as of 3/29/11 based on available information. If you have a correction, please get in touch.


Jensen Comment
This approach to comparing alternatives will make most accountics professors shudder. Can't you just imagine the course managers' contacting their "alumni" requesting that you send Going Concern raving reviews about their CPA Review "alma maters?"

Actually most any way I can think of to compare these coaching course alternatives makes me shudder. These coaching courses are often very important to some exam takers, but in every instance a coaching course is only one variable leading to success, and it's not an independent variable. It's a variable that interacts with many other factors in complicated and dynamic ways. I defy anybody in the real world to isolate its first-order plus its higher order impacts and to robustly extrapolate the findings to a person comparing these coaching course alternatives.

Firstly, exam takers may not know what factors really led to success when they took the CPA Examination and/or they may falsely attribute success to factors that in the grand scheme of things were truly less important. For example, coaching courses have a "recent-timing bias" in that they are the last big efforts to study for the exam when in reality the success may be largely attributable to some parts of undergraduate courses they took years ago.

Secondly, exam takers may attribute too much to things that don't necessarily differ greatly between coaching courses. Some exam takers attribute success to coaching courses that kick butt and force them to study a lot weekly. But since nearly all the coaching courses kick butt in one way or another, this hardly distinguishes the best butt kickers. Other exam takers attribute success to the coaching course "wizards" who successfully predicted what would be on a particular exam. But coaching courses may have varying success in this regard over time and with varying degrees of luck.

Thirdly, when education researchers compare different pedagogies among good students, the general finding is that there's no significant difference between one pedagogy versus another. Good students adjust to different instructors, different textbooks, different teaching methods, different coaching, etc. ---

I think there are many ways coaching courses can be compared on the input side. I don't see a good way of comparing them on the output side. Also it's not at all clear to me that many students get what they pay for, although the fault for this may vary. Some coaching courses are overpriced in my viewpoint. Going for the most expensive course does not mean you get what you paid extra for to pass the exam.

Some things are probably more important than coaching courses. For example, how much time off does your employer give you to study for the exam and how efficiently do you make use of that free time? Do you have to study in hotel rooms more than you can study conveniently at home? Do you have to study for the exam while having to also bounce a child on each knee most of the time? WC Fields said there's only one good way to have kids --- cooked. How much do you really, really, really want to pass this exam? Are you really studying so intently that you have to change underwear six times a day? Are there too many outside distractions in your life such as excessive success or failure in your love life? Are you spending too much time pouring over Bob Jensen's AECM messaging?

When the Great Scorer at NASBA comes to write against your name, he writes if you won or lost, not how you played the game.

Educational Resources and Exams to Become an Accountant or CPA ---

Bob Jensen's threads on the CPA Examination are at

Also see Test Prep Support ---

"The Quickest 2011 CPA Exam Breakdown You’ll Ever Read," by Adrienne Gonzalez, Going Concern, September 24, 2011 ---

Because we know all of you are very busy tearing up your last exams before CBT-e hits in January of 2011, we won’t waste your time and get right to the point. 2011 is coming, the exam is changing and though we’ve been over it plenty in the last several months, let’s go over it one more time.

Simulations – This year’s simulations are next year’s simlets. Simulation problems will be shorter, task-based problems that should take you about 10 – 15 minutes to complete as opposed to the 45 minutes they take now. AUD and FAR will have 7 smaller simulation problems while REG will have 6. As usual, not all of these are graded.

Multiple choice – BEC and REG will contain 24 MCQ per testlet while FAR and AUD will still contain 30. MCQ will make up 60% of the FAR, AUD and REG exams and 85% of BEC.

Research – if you’re taking the exam this year, research is buried in simulations and doesn’t carry much weight point wise. Next year, however, research will be its own tab worth as many points as any of the other simlet problems. FAR research will be easy as it is limited to the ASCs (Accounting Standard Codification) and REG will mostly draw from the Internal Revenue Code but AUD will come with a dropdown menu that includes PCAOB ASs, the Code of Professional Conduct and SSARS just to name a few. You’ve been warned.

Written communication – WC is out of FAR, REG and AUD and slapped into BEC. You’ll have to write three written communications, of which two will be graded.

International standards IFRS and international auditing standards will be added to current FAR and AUD content (respectively) while REG is mostly unchanged by this as you can’t really test international standards of federal taxation. Keep in mind that this additional content will most likely be gently mixed in with what is already being tested and does not make GAAP completely irrelevant so don’t use 2011 as an excuse to procrastinate all the way through the holidays.

Now stop wasting your time with inflammatory nonsense blogs and GET BACK TO STUDYING!

(btw: if you have a CPA exam question for us – anything from applying to qualifying to passing – do get in touch)

CPA Exam Guy ---

Bob Jensen's threads on the CPA Examination are at

Joe Hoyle and his former partners elected to make their commercial CPA Examination Review materials free online. I am contacting Joe to see if they intend to keep those materials up to date for future CPA examinations. A link to the Hoyle et al. free materials is provided at 

September 25, 2010 reply from Joe Hoyle

-----Original Message-----
From: Hoyle, Joe []
Sent: Saturday, September 25, 2010 8:42 AM
To: Jensen, Robert
Subject: RE: Question for Joe Hoyle: The Quickest 2011 CPA Exam Breakdown You'll Ever Read

Hi Bob,

Hope this finds you well.   I just got through giving a bunch of tests last week (Intermediate Accounting II and Introduction to Financial Accounting) and, as always, some learned it all and some learned a lot less.   I am using my own new Financial Accounting textbook this semester.   As you may know, the book is written in an entirely Socratic Method (question and answer style).  I find that approach stimulates student curiosity much better than the traditional textbook which uses what I call a sermon or monologue style.   The Socratic Method has been around for 2,500 years -- isn't it strange that it has been ignored as a possible textbook model?  

I'm not a big fan of college education presently (that is college education and not just accounting education).   There are three major components to education:  professors, students, and the textbook (or other course material).  It is hard to change the professors and the students.   I think if we want to create a true evolution in college education in a hurry (my goal), the way to do that is produce truly better college textbooks.   I wish more college accounting professors would think seriously about how textbooks could be improved.  At the AAA meeting in San Francisco in August, I compared a 1925 intermediate accounting textbook to a 2010 intermediate accounting textbook and there was a lot less difference than you might have expected.   Textbooks have simply failed to evolve very much (okay, they are now in color).   It is my belief that textbooks were created under a "conveyance of information" model.   An educated person writes a textbook to convey tons of information to an uneducated person.   In the age of Google, Yahoo, Facebook, YouTube, and Wikipedia, I think the need to convey information is no longer so urgent.  I think we need to switch to a "thinking about information" model.  And, if that is the goal, the Socratic Method is perfect.   You can start off with a question like "Company X reports inventory at $500,000.  What does that mean?   Is it the cost or is the retail value?  And, if it is one, why is not the other?"  Accounting offers thousands of such delightful questions.

But, I digress -- you asked about CPAreviewforFREE.   We just finished our 117th week and it has been so much fun.   We had a person write in this week (on our Facebook page) to tell us that she had made three 99s and an 89.   Over the summer, we averaged about 300,000 page views per week.   That is page views and not hits but that is still a lot of people answering a lot of questions.

We are currently writing new questions for the new exam starting in 2011 including task-based simulations, IFRS, and written communications questions for BEC.   I personally think the exam will change less than people expect.   Currently, roughly 50 percent of the people who take a part pass that part.  I would expect that in January under the new CPA exam format, roughly 50 percent of the people who take a part will pass that part.   And, I would guess it will be almost exactly the same 50 percent.

However, to be honest with you, we are in the process of adding a subscription service.  I don't know if you ever go to but they give a lot of free information (Red Sox beat the Yankees last night 10-8) but they also have a subscription service where you can learn about things in more depth for a monthly fee (almost like a newspaper).   Our 2,100 free questions and answers will ALWAYS stay free.   But we found that people really wanted to have some content.   If they missed a question on earnings per share, for example, they wanted to know more about how convertible bonds are handled in that computation.   They didn't feel the need to pay $2,500 (don't get me started on what I think about that) but they wanted a bit more information.

To date, we have subscription content for FAR and Regulation.  Each is available for $15 per month which I think is a reasonable price (especially in a recession).   (As an aside, I have long felt that the high cost of CPA review programs keeps poor people out of the profession which I think is extremely unfair and even unAmerican.)    In our FAR content, for example, we have 621 slides that cover everything I could think of that FAR will probably ask about.   There are probably more slides in Regulation but I haven't counted them yet.   BEC and Auditing will be ready as quickly as possible.   When you have no paid employees, things only get done as fast as you can get them done.

Bob, I was delighted to see your name on my email this morning.   I'm actually in Virginia Beach on a 2 day vacation but decided I'd rather write you than go walk on the beach :).    If I can ever address more questions about textbooks, CPAreviewforFREE, or the Red Sox and the Yankees, please let me know.   As my buddy Paul Clikeman (who is on the AECM list) will tell you, I am a person of opinion.


See ---

One site of possible interest for international accountants is the International Qualification Exam site ---

However, you may have to have a higher CA credential for the IQEX, but it's worth a try.

Best states for International Student CPA Candidates ---
Check for updates, however, because some of this information is outdated

Bisk Sites
Bisk CPA Examination Review

Bisk Awards for Accounting Resources in 2012--- - Helping CFO's Repackage, Position, and Land!

Dr.DavidKass - Commentary on Warren Buffett and Berkshire Hathaway. -360 Degrees of Taxes is a public service site, designed by Certified Public Accountants and sponsored by the AICPA, offering tips and checklists to help you during tax season and with year-round tax planning. - Changing the way people learn accounting.

BobJensonattrinity. - Daily entries, fraud updates, and insightful conclusions ( ) - Financial commentary you can trust.


"The AICPA Talks to Going Concern About the New CPA Exam," by Jr. Deputy Accountant and often foul-mouthed Adrienne Gonzalaz, Going Concern, January 14, 2011 ---

Because I genuinely care about the well-being of you little CPA exam candidates out there, I recently put aside the inflammatory nonsense for a moment and took some time out of my busy schedule to chat with the AICPA about the new CPA exam that they were proud to say launched early this month without a hitch. We’re pretty excited about that too, mostly because it means we can finally stop talking about 2011 changes and get back to talking CPA exam strategy, which is largely unchanged as a result of CBT-e.

We here at Going Concern value reader input (even if we do value chastising said reader just as equally) and therefore reached out to get your input on the sorts of questions we should ask. You spoke and we listened so let’s cut right to the chase and give you some answers.

John Mattar, Ed.D., Director of Psychometrics and Research and Mike Decker, Director of Operations and Development, both of the AICPA Examinations Team, were kind and brave enough to speak with me and give me plenty of insight on the brain behind the new CPA exam.

First of all, we need to talk scoring as that’s the one thing you guys have complained about consistently since the exam went computerized in 2004 (except for written communication but that is an entirely different issue). We’re proud to tell you that we can finally say with certainty that the AICPA will not be changing the passing score from 75 moving forward. That’s right, put down your flaming pitchforks, all you 74s who were ready to flip should the score have been lowered to 70. “In terms of the score reported to candidates, right now the passing score on that reported scale is a 75 and it’s going to remain there because we want to have consistency over time,” John told us.

That means a 75 last year might not necessarily be the same as a 75 this year but a 75 is still passing and that’s what matters. As we all know, the AICPA uses a complicated and mysterious psychometric formula to determine weights for each question and bases a candidate’s score on this formula. It isn’t for you, little candidate, to worry about how they come up with their numbers nor should you feel as though the AICPA gets some sick thrill out of seeing you get a 74. Believe it or not, they’re neutral. They don’t care if you pass or fail, they only care about overseeing a professional examination that successfully tests the knowledge base of entry-level CPAs in the United States. That’s it.

Second, while the AICPA will be using a single score release formula for at least the first three testing windows of the year, candidates can anticipate a new and improved score release system that will hopefully be introduced by the end of the year. This means all candidates who test early in their window will be eligible to receive their scores in the first release and all other candidates can expect to receive their scores in more frequent batches through the end of that window’s blackout month. So forget the Wave 1/Wave 2 nonsense. “Due to a lot of the work we’re doing on the backend, we’re going to be able to release scores faster. We’re not actually going to be able to release the scores earlier until the 4th quarter because we need to do a greater analysis in the first three quarters,” Mike said. So while you guys see the new simulations and international content on the frontend, it’s important to remember that a lot of time and effort went into improving the backend of the CPA exam and faster scoring is one such improvement that we can expect to see by the end of the year. But these changes come at a price so be patient while the AICPA works through the first three windows of this year to finalize their new scoring process.

If you haven’t already, I recommend you check out How the CPA Exam is Scored for more details on this process. Expect an update to that document when new scoring takes effect later in the year.

As for CBT-e content, I initially congratulated the AICPA for finally streamlining some questionable areas of the exam (especially BEC) in the updated CSOs/SSOs but forgot that they don’t actually come up with content on their own. You can thank an extensive practice analysis and subsequent input from practicing CPAs for the CPA exam you know and love today, a process that takes into account input from the profession on what entry-level CPAs should know. That means the introduction of international financial reporting and auditing standards is entirely independent of the SEC’s do-we-or-do-we-not IFRS roadmap. This should be a comfort to some of you who are wondering just how much IFRS will appear on the exam in coming windows as it means the exam will most likely continue to test remedial international content and will mostly focus on major differences between IFRS and GAAP. Entry-level CPAs in the U.S. are not expected to be experts in IFRS, just as they are not expected to be experts in cost accounting, government accounting, non-profit accounting or any number of areas that have been consistently tested on the CPA exam for years now.

The best news is that though the e in CBT-e stands for evolution, those expecting to take the exam in 2012 or beyond shouldn’t expect such a large overhaul as we just saw any time soon. “We don’t plan to change the exam,” John said. “What we plan to do is keep the exam current with the profession to protect the public interest. If we do have significant changes in test content we would have to let candidates know in advance.”

That being said, the largest takeaway I got from my conversation with the AICPA was that they are simply interested in providing a consistent examination that continues to evolve to meet the needs of the profession. I swear to you that they really don’t get a sick thrill out of torturing you guys with changes, scoring delays and new content though it may appear that way sometimes, especially if you’re in the 74 x 3 club. It’s their job to make sure that the CPA exam represents the best interests of the profession, which means revising their strategy to keep up with the evolution of the industry.

We applaud the AICPA on a job well done and congratulate them for a successful CBT-e launch. So far, candidate feedback I have gotten on the new exam format has been mostly positive, which means that their hard work was totally worth it.

Bob Jensen's threads on the CPA examination are at

Educational Resources and Exams to Become an Accountant or CPA ---


 NASBA video that you may want to watch ---

"NASBA Gives Its Accounting License Library a Makeover," by Adrienne Gonzalez, Going Concern, July 23, 2010 ---

For those of you that aren’t already aware, we implore you to check out NASBA’s incredibly useful Accounting Licensing Library – a comprehensive, continually-updated database that can help future CPAs find a state in which to be licensed and offers accounting firms access to important state data to assist in their efforts across state lines. In other words, the tool’s main goal is to facilitate mobility by bringing all 55 jurisdictions together in one easy-to-use area while offering a one-stop shop for those considering CPA licensure.

We recently got a chance to chat with NASBA General Counsel and Director of Business Development Maria Caldwell about the new ALL.

The new ALL tool features
a new section for accounting students, an enhanced state requirement comparison research tool and expanded product information. The refreshed ALL website offers the same features and benefits as the previous site in a more user-friendly format. Users can find detailed licensing information and even use their research tool to determine if their educational requirements meet any state’s licensure requirements without having to click through each state board’s website individually. This is huge for candidates and for NASBA, as it allows them to spend more time dealing with candidate issues and less time pointing candidates in the right direction.

The birth of the ALL actually began within NASBA four years ago as they wanted a single resource for internal use that would take each state board’s requirements and aggregate them into one place. “There really wasn’t one source to go to and look up all these different rules, so that was the impetus for putting the tool together,” Caldwell told us. “We wanted to offer it to firms at first but once it was out there we realized there were several different audiences using it. Students use it as a licensing tool and international candidates use it as well.”

With over 700 candidates accessing the tool per year (before the makeover) and a significant leap in CPA exam applications since the first whispers of an economic downturn in 2008, interest in the tool and CPA licensure does not appear to be waning any time soon.

Beyond the licensure aspect of the tool, the ALL gives both individuals and firms a way to improve their own economic outlooks by reaching across state lines to find clients. “In this kind of environment, the firms are looking to neighboring states if their state is suffering from a lack of business,” Caldwell said. The tool allows for mobility without firms wasting countless hours combing through state requirements and allows CPAs in a specialty practice to meet the needs of clients who may be in areas that lack qualified accountants who offer their specialized services.

As the CPA exam prepares to go international, NASBA is counting on increased interest in not only the ALL but the all-important CPA designation. Let’s face it, not every industry can say it has weathered the economic downturn as well as CPAs have and passing the exam is still considered a prestigious accomplishment across the globe.

Great job, NASBA, we definitely approve!

Bob Jensen's threads on passing the CPA Examination ---

Educational Resources and Exams to Become an Accountant or CPA ---

How will IFRS affect the 2011 CPA Examinations?
If I Pass CPA Exam Parts in 2010, Will I Have to Pass Them Again in 2011?

Click Here  

Bob Jensen's threads on accountancy careers

Skills and knowledge should be required as part of the pre-certification education of CPAs
Prompted by New York’s forthcoming adoption of the 150-hour requirement to sit for the CPA exam, the NYSSCPA’s Quality Enhancement Policy Committee drafted a white paper to encourage discussion on what skills and knowledge should be required as part of the pre-certification education of CPAs. This white paper, which was approved by the Society’s Board of Directors, is presented here, along with additional commentary from the NYSSCPA’s Higher Education Committee.
Quality Enhancement Policy Committee Sharon Sabba Fierstein, Chair, August 2008 ---

Mary-Jo Kranacher, Editorial, CPA Journal, August 2008 ---

Specific requirements for becoming a CPA, and the rights and obligations of a licensed CPA, are set forth in the laws and regulations of 54 United States jurisdictions ---

NASBA Tools ---
NASBA Resources (Includes documents and audio files on knowledge requirements) ---

Free and Fee CPA Review Courses ---

Bob Jensen's threads on accountancy careers ---

"Pre-Med Education Must Be Compatible with Liberal Arts Ideals," by Timothy R. Austin, Inside Higher Ed, July 31, 2008 ---

Also see


Although you might not agree with some of Irv's opinions below, the announcement is important to note.

Irv probably knows more about accounting and flying (i.e., pilot) certification examinations than any other human being in the U.S.

Bob Jensen

-----Original Message-----
From: Irvin Gleim []
Sent: Tuesday, March 23, 2004 5:42 PM
To: Jensen, Robert
Subject: Major CMA Exam Changes Affecting Your Students


The IMA is making substantive changes to the CMA exam beginning July 1, 2004. The IMA will release a new exam this summer and will remain in 4 parts, although it will be significantly different than the prior exam. However, there is good news; the current exam (unchanged) will be available to your students until December 31, 2007, PROVIDED YOUR STUDENTS REGISTER FOR THE CURRENT CMA EXAM PRIOR TO JUNE 30, 2004.

The current CMA exam is an easier exam to prepare for and pass. Your students should consider pursuing the CMA either in place of the CPA or in addition to the CPA. The total cost to take the CMA as a student is $265; undergraduate students can take the exam, and there is not a 150-hour requirement.

An explanation of the reorganized CMA exam is available at

A comparison of the current (unchanged) CMA exam with the reorganized exam is available at


A. Join the IMA for $35 (required to take the CMA exam) at

B. Decide which part to take first: See

C. Register for the exam and pay $57.50 (which is 50% of the regular fee) per exam part. The $75 credentialing fee is waived for students.

D. Purchase Gleim/Flesher CMA Review. Substantial discounts are available through Gleim's complimentary Academic Site License program. Call 800-874-5346, ext. 104 for details.

E. Study CMA Review books, software, and audios (approximately 40 hours) per part.

F. Take and pass each part.

G. Continue with any remaining parts and become a CMA and/or CFM.


Dr. Irvin N. Gleim
Gleim Publications, Inc.
P.O. Box 12848
Gainesville, FL 32604
352-375-0772, x.110
800-87-GLEIM, x.110
352-224-1310, direct
352-870-2742, cell
Fax 888-375-6940

June 23, 2004 message from Irv Gleim [

The IMA will make substantial changes to the CMA Exam beginning July 1, 2004. These changes will include a new essay section that incorporates material from all four exam sections. In addition, CPAs will no longer be waived from the financial accounting and reporting material, and will instead be waived from economics and business applications topics.

However, there is good news; the current exam will be available until December 31, 2007, allowing plenty of time for completion. BUT, you must apply by June 30, 2004. In other words, APPLY NOW! Click the link below to open the online registration form. 

Gleim will continue to provide up-to-date materials throughout the current exam's duration. Gleim will also release a new edition for the revised exam this summer so that we will be able to meet all of your students' certification needs. You can view more information on Gleim's CMA Review and see how we will prepare your students to PASS by visiting the link below:

CPA Exam Information and Vendors


 NASBA video that you may want to watch ---


NASBA 2008 Update:  120 Versus 150-Credit Hour Requirement to Become a CPA
There are now only two states that do not require 150-credits to become a CPA, with California being the largest jurisdiction
Most states require 150 credits to sit for the CPA examination, whereas a few states impose the 150-credit rule for licensure only

DRAFT Education and Licensure Requirements for Certified Public Accountants: A Discussion Regarding Degreed Candidates Sitting for the Uniform CPA Examination with a Minimum of 120 Credit Hours (120-Hour Candidate) and Becoming Eligible for Licensure with a Minimum of 150 Credit Hours (150-Hour Candidate) (120/150 Discussion), Issued by the National Association of State Boards of Accountancy (NASBA) , November 2008 ---  [www_nasba_org]$file/120_150_Paper_Draft_November_08.pdf

The above draft has quite a lot of data and provides extensive history of the 150-Hour Rule.

For a wider history see
Part of the above Wikipedia module was out of date, so I changed the Wikipedia module on December 13, 2008.

NASBA has some learning tools at

Free CPA Examination Review Course ---
AccountingWeb Student Zone --- 

For many students, the fee-based CPA Examination Review materials and courses are likely to get better results, especially those that force students to weekly stay on track and those that have multimedia helpers and those that meet onsite as a regular class.

Accounting Institute Seminars
Becker CPA Review
Bisk-Totaltape CPA Exam Review
Conviser Duffy CPA Review (now merged with Becker)
CPA Review Twin Cities
CPAexcel CPA Exam Review
Dynasty School
Exam Matrix (formerly Micromash)
Gleim Publications
Hoyle CPA Ventures (now free)
Intensive CPA Examination Review
Mark's CPA Review
Person/Wolinsky CPA Review Courses
Rigos Professional Education
The Tutorial Group, Inc.
Wiley CPA Exam Review
Wise Guides

Bob Jensen's career helpers are at

Online continuing education credit CPE programs for accountants

McGraw-Hill CPE Online from McGraw-Hill/Irwin at

CPEasy from Bisk Publishing at

Insight CPE from Insight CPE at

Association of Government Accountants  
Continuing Education --- 

CPE Internet from the University of Phoenix at

Jouarnal CPE Online from Rutgers University at

Best CPE (for tax only) from Hardwick Publications at

ICPE from the Institute for Continuing Professional Education at (No longer available for public access)

A review is provided in the Journal of Accountancy, November 1998, 59-62. Online Journal of Accountancy articles can be found at

Internet Companies Directory (A Partial Listing)

e-Retail (consumer products and services)

1-800 Contacts Contact lenses
Alloy Online Goods for teens Books, music, electronics New, used car guide Books, music Medical products
eBay Auctions Computer products
Expedia Travel planning
Hotel Reservations Network Discounted hotel rooms Travel reservations Postage
Ticketmaster Guides, tickets Travel reservations
e-Finance (banks, brokerages and credit companies)
Ameritrade Securities broker
Charles Schwab Securities broker
CSFBdirect Securities broker
E-Trade Securities broker
IndyMac Bancorp Mortgage lender
Intuit Personal finance info
NetBank Consumer banking
NextCard Consumer credit
TD Warehouse Securities broker
Wit SoundView Securities broker
e-New Media (advertising/subscription-supported media)
AOL Time Warner Consumer content
Ask Jeeves Search engine
Cnet Networks Technology content Real estate content Career content
InfoSpace Wireless content Financial content Computer protection Music content Financial content
NBC Internet Consumer content Sports content
Terra Lycos Consumer content Financial content
Apollo Group U of Phoenix Online Education content
Yahoo Web guide
e-Access providers (connections to the Internet)
Aether Systems Wireless Internet access
Excite At Home Internet access
EarthLink Internet access
Juno Online Services Internet access
Metricom Wireless Internet access
Please be advised that Metricom has filed for Chapter 11 bankruptcy protection.
NetZero Internet access
Prodigy Communications Internet access
RCN Internet access
Research in Motion Wireless Internet access
WorldGate Communications Internet access
e-Learning providers (corporate) For more details go to 
Caliber Training and executive dev. 
Pensare Executive development with plans for degree programs in partnership with prestige universities 
UNext Executive development and for-credit programs through UNext's Cardean University and in partnership with prestige universities 
Smart Force Executive development 
Quisic Content development, executive development, and for-credit courses 
(Formerly called University Access)
Headlight (From CyberU) Recreational learners and an online small business training center Training and executive development and for-credit courses 
University of Maryland University College Training and executive development and for-credit courses 
Fathom (headed by Columbia University in conjunction with many prestigious partners)  A huge knowledge portal that offers over 600 courses 
New York University Online Training and executive development and for-credit courses 
University of Phoenix Training and executive development and for-credit courses (The largest accredited private university in the world.) 
The Kaplan Colleges Training and executive development and for-credit courses (including the online Concord School of Law) 
Sylvan Learning Systems Training and executive development and for-credit courses (and testing centers) 
Intellnex from Ernst & Young (the first Big 5 accounting firm university) Training and executive development 
Many other corporate providers are discussed in a book that can be downloaded free:
The Business of Borderless Education, by S.C. Cunningham, et al., (Australian Department of Education, Evaluations and Investigations Programme of the Higher Education Division, 2000).  Hard Copy ISBN 0 642 44446 3 and Online Copy ISBN 0 642 44447 1 --- 

Bob Jensen's documents on e-Learning are available free at 
(Note that most prestige universities have already or are forming private corporations for online delivery of training, executive development, and for-credit courses)

Bob Jensen's other bookmarks are at 


Miscellaneous Accounting Education

Jim Hasselback's On-line Accounting Faculty Directory
Jim Hasselback's On-line Accounting Faculty Directory (Prentice-Hall Web Site)
Gerald Trite's great set of links --- 
Accounting Journals Index
Innovation in Accounting Education Award 1999 Submissions to the American Accounting Association
(I will review some of these documents in future editions of New Bookmarks)

AICPA Professor/Practitioner Case Development Program
Please be informed that the winning case materials (student notes only) are now available on the Institute Web site at

Dennis Schmidt's Accounting and Tax Guides
Prentice Hall Online Gallery
Bob Jensen's Links
e-Commerce and e-Business Helpers for Accountants --- 
accounting history
AICPA Home Page
AICPA The Vision Process
Featured Applied Ethics Web Site
The AICPA Issues Business Fraud Case Studies ---
Tax and Accounting Sites Directory
Rutgers Accounting on the Web Mailing List WWW Gateway
World-WideGraduate School Directory
Arthur Andersen - History of Accounting
Home Page for MicroMash
Chapters (Internet Guide for Accountants by Kogan, Sudit, and Vasarhelyi)
Accounting, Management and Information Technologies
ANet Home Page
ANet Australia home (International Accounting Network)
CUSI at Pacioli
Ernie. Your online business consultant.
International Accounting Network - Hawaii
Rutgers Accounting Web Introduction
The Nordic Accounting Network
US University's Accounting Departments
School of Accountancy (U. of Waterloo)
Weatherhead School of Management
Yahoo! - Education:Higher Education:Colleges and Universities
Accounting Education Using Computers and Multimedia

CPA ListServ

A Forum for Accountants (Click on Forums)

Howard Schilit wrote a (1993) book called "Financial Shenanigans: How To Detect Accounting Gimmicks & Fraud in Financial Reports". He has since opened a web site at  . You can compare prices on his book at by entering the ISBN number 0070561311 at 

Where can you find a great listing of accounting journals?  Try 

Associations in Accounting Education ---- See Accounting, Accounting Profession and Issues

Accounting Profession and Issues

Accounting Software


"Technology 2012 Preview: Part 2 Experts explore hot topics in software, hardware, security, social media and video," by Jeff Drew,  Journal of Accountancy, December 2011 ---

"Technology 2012 Preview: Part 1 Experts explain what should be at the top of your tech wish list for the new year,"  by Jeff Drew,  Journal of Accountancy, November 2011 ---


Software Buying and Use Guides
 SMB Finance and Accounting Checklist
What a great site Saeed. Thank you.

Great accounting software guide ---

On the personal financing and investment side of things, I like the following link:

"The Best Online Tools (software, services) for Personal Finance," The Wall Street Journal, June 8, 2009 ---

WebFilings for SEC and XBRL Reporting (Object Oriented Database) ---

For SEC reporting professionals, WebFilings is a revolution in collaboration software for regulatory compliance, delivering the only complete, integrated solution to meet SEC reporting requirements.

Jensen Comment
Note the XBRL tab ---

AccountingWeb's 2009 Tax Software Review for Professionals, November 2009

Featured Tax Software

·         ATX

·         CrossLink

·         Drake

·         GoSystem Tax RS

·         Great Tax

·         Intuit ProLine Lacerte Tax

·         Intuit ProLine ProSeries

·         Intuit ProLine Tax Online Edition

·         Orange Tax Suite

·         ProSystem fx Tax

·         TaxACT

·         TaxWise

·         TaxWorks

·         UltraTax CS

Bob Jensen's taxation helpers ---

Bob Jensen’s small business helpers are at


"The Best Online Tools (software, services) for Personal Finance," The Wall Street Journal, June 8, 2009 ---

1. Budgeting Your Money

2. Creating a Financial Plan

3. Tracking Investments and Getting Advice
4. Checking for Fraud
5. Keeping Track of Credit
6. Managing Loans

Details at

Bob Jensen's helpers for personal finance ---

Bob Jensen's threads on Accounting Software ---


Software Buying Guides
 SMB Finance and Accounting Checklist

"A New Alternative for Taking and Sharing Notes: 3Banana Notes," by Mark Sample, Chronicle of Higher Education, September 9, 2010 ---

In my recent ProfHacker guide to 5 Android Apps I Can't Live Without, there was one seemingly obvious mobile application missing from my list: Evernote, which has gotten a lot of attention on ProfHacker. That wasn't an oversight on my part. I rarely use Evernote, for many reasons: I don't like the way it locks up my data, the desktop client is distractingly cluttered, and both the Apple and Android app interfaces are forgettable and unintuitive. And then there's Evernote's firepower. It's too much application for my purposes. I don't know about you, but I don't need my grocery shopping list tagged with keywords and filed away in notebooks. Bloated with features, Evernote is simply not useful for quick and dirty notes.

What I use instead is 3Banana Notes, an application available for iPhone and Android devices, powered in the cloud by Besides being oddly named, 3Banana is free, ad-free, incredibly lightweight, but powerful enough to corral the bits and pieces of my information stream—and then share them when needed.

Here's what you see when you open the application (I'm demonstrating the Android version, but its iPhone counterpart is nearly identical.

Continued in article

Business Technology from Business Week Magazine ---

The Journal of Accountancy has a great monthly technology section (with particular focus on things you never, ever thought you could do with MS Office, particularly Excel) ---
The Q&A modules are particularly informative and should be centralized in one place in addition to monthly editions.

Bob Jensen's threads on education technology ---

The Business / Accounting section of The New York Times dedicated to College focus. Links to articles involving accounting and auditing issues.


"So you want a new desktop accounting package?" by David Carter, AccountingWeb, June 5, 2007 ---

David does not mention my oft-preferred alternative of a Webledger system (such as NetSuite) that can be accessed at a range of needs and sizes and prices with some huge advantages over installing accounting software on your own hardware --- at


"Users Grade Tax Software," by Stanley Zarowin, Journal of Accountancy, October 2007 ---

2008 Professional Tax Software as Listed in a November 7, 2008 Accounting Web Newsletter

Featured Tax Software

From the Journal of Accountancy Smart Stops on the Web in 2008

A TAX TOOLBOX,,id=118004,00.html
This Smart Stop from the IRS provides a host of basic tools for tax professionals, handily compiled onto one page for easy access. The information ranges from recent tax law changes to standards of practice and Circular 230 information to the contact info for the Taxpayer Advocacy Panel (see “The Taxpayer Advocacy Panel: An Opportunity to Collaborate With the IRS,” JofA, Sept. 08, page 68). The page contains a host of publications on representing clients before the IRS, as well as requesting client transcripts and copies of their tax returns. Also look under “IRS Collection Tools and Your Clients Rights” for rules on representation and disclosure and Offer in Compromise guidelines.

Visit this new site from the National Association of Home Builders for an overview of the Housing and Economic Recovery Act of 2008, which authorizes a tax credit for qualified first-time buyers purchasing homes before July 1, 2009. The “Frequently Asked Questions” page answers both general and technical questions regarding the credit, or click on “The Law’s Other Provisions” to go beyond the act’s tax credit provisions and learn about its implications for property taxes, mortgage revenue bonds and Federal Housing Administration modernization. If you’re still looking for information, the “Home Buyer Resources” page hosts a list of links to helpful government Web sites, including state and local homebuyer assistance programs.


Small Business Accounting Software (Simple Solutions promotional video) ---

For small and medium sized businesses I recommend looking into Webledger alternatives ---

PKL Accounting Education Software (for a fee) ---

Hello Professor Jensen

When you log into  you are at the home page of PKL. All of the products listed are currently available for a professor to choose. To view any product just click on the product button. To log into view a product, just enter Anonymous as your ID/Name and Anonymous as your Password.

All products are web-based, will run on any computer. They include:

1. Practice sets at three different levels: Middle of Financial, End of Financial, Cost, Managerial, or Intermediate

2. Work4Me Problems: Twenty individual business problems emphasizing key topics of Financial Accounting

3. Accounting Coach: Twenty-five Financial Accounting topics (algorithmic problems) that instruct, coach, teach, and test a students skills.

I would be honored if you would allow me to save you a great deal of time by joining me, at your convenience, in a short, WebEx demonstration of how our key products work for professors and their students. With a WebEx demonstration, you sit at your computer, dial into our toll-free conference call line, and you will be looking at my screen while we talk about all of the many features we now have included in our new products. This will give me the opportunity to answer all of your questions.

The professors at Trinity were very excited about what I showed them and like 95% of our demonstrations, they adopted one of our products.

A short look at a practice set, will give you a good picture of how our software works for all of the practice sets and the Work4Me problems.

Seeing how our Accounting Coach helps a student practice, learn, and then evaluate themselves on multiple Financial topics will give you another view of what we have put together.

In a nutshell, we have a great set of products, we just need to get the work out and we are working hard to do that. In two weeks we will start our Spring semester and over 550 students will be using one or more of our products.

Let me know if you like to see our work or if you would like a professor registration code for any product.

Keith Weidkamp
Sierra College

PKL Software

Bob Jensen's threads on accounting education software are at

Investment Club Software ---

An Investment Club Helper Site ---
Note that investment clubs should understand state and local tax laws regarding investment club returns and liquidations.

From the Scout Report on February 25, 2011

Mint --- 

Many people like to keep tabs on their finances, and the Mint program may prove to be quite useful for those looking for such a resource. After signing up, the program can incorporate financial information from a variety of sources to make it all accessible in one place. The program also works on mobile devices, and users can see what's happening with their budget and financial goals. This program is compatible with all operating systems.


"Online Accounting Tools Still Come Up Short," Rob Pegararo, The Washington Post, May 22, 2008. Page D03 --- Click Here

Few types of desktop software should be readier for replacement by the Web than personal finance.

The concept behind these programs is sound: Track your income and expenses through automatic downloads from banks, credit card issuers and other financial institutions to show where your money's coming and going, and how much of it you're likely to have later on.

But the market long ago calcified into a duopoly of programs, Intuit's Quicken and Microsoft's Money. As they've piled on the features, their usability has suffered. Many users, fearing an ordeal of bookkeeping, avoid them entirely. Those who have bought either program have been forced to ante up for new versions, at $15 to $90 each, when "sunset" policies cut older releases off from account-data downloads.

It might seem that a simpler, cheaper alternative to these programs would have emerged on the Web, now that online shopping and bill payment have made people comfortable with managing money online. But the big Web companies have yet to craft such a thing.

Fortunately, the absence of a shiny new Web application from Google or Yahoo doesn't mean the absence of hope for online alternatives to Quicken and Money. It may just mean you'll have to wait longer to find one that suits you.

The most visible Web competitor so far has been the free Mint ( Since its launch last fall, this Silicon Valley start-up has drawn 266,000 users, though founder Aaron Patzer did not say how many visit the site regularly.

Quicken or Money vets may find Mint insultingly simplistic. It only links to banks, credit cards and investments and ignores most people's biggest debts (mortgages and car loans) and assets (homes and vehicles), making net-worth estimates impossible.

Using Mint requires you to trust the site to safeguard your bank usernames and passwords, which you must save there before adding any accounts. You can't enter transactions by hand or upload Quicken or Money files. And you can't reconcile transactions against a monthly statement.

But within those limits, Mint provides soothingly simple money-management tools.

When tested with a bank account, two credit cards and three mutual funds, Mint automatically fetched the latest data, converted most gibberish in these accounts' downloads into real names and filed most entries in the right category. For example, a credit card charge to "WHOLEFDS ARL 10042 0ARLINGTON" became "Whole Foods," listed under "groceries."

It was even smart enough to split fees on ATM withdrawals into separate expenses.

Mint then broke down patterns of income and expenses into easy-to-read pie charts.

Mint aims to make money by suggesting better financial services, then collecting commissions. But its advice to drop an American Express card for a Chase Visa ignored the AmEx card's cash rebate.

Two other sites have begun grabbing users as well. The free Wesabe (, an older Silicon Valley start-up, acts like a money-minded social network.

It makes the collective wisdom of its users part of its source code, comparing your spending and earning with the averaged habits of more than 100,000 other "Wesabeans." It also relies on their accumulated input to refine and sort statement entries and offer tips about better deals near you.

But Wesabe may need more users (at least near Washington) to do those jobs well. Most downloaded transactions came through in their original, cryptic bankspeak, and some tips showed a Bay Area bias.

This site's free-form system of tagging, in which you can slap multiple categories onto a single transaction, also yielded duplicate entries in its spending summaries.

Wesabe (which plans to underwrite its free service with a fee-based "pro" option) is even more limited than Mint. It couldn't connect to a Bank of America Visa credit card account, and it doesn't do investments or home or car loans.

In Wesabe's favor, it offers free Mac and Windows uploader programs that keep your account logins on your computer and offers multiple ways to get your data off the site. It even posts a toll-free number that you can call to reach its chief executive each afternoon.

Wesabe may appeal most to extroverts with specific financial goals who can easily set targets and solicit fellow users' advice in its forums.

One of the newest Web-based personal finance tools comes from Intuit, which in January launched the $2.99-a-month Quicken Online ( Although this site isn't as slick or quick as Mint or Wesabe, it supports investments and mortgages, not just banks and credit cards.

Unlike Mint and Wesabe, it also lets you add coming transactions -- no risk of forgetting the check you wrote to your contractor-- and set bill-payment reminders.

Some basic features, such as transaction breakdowns and the ability to upload Quicken files or download data from the site, still aren't there. But its simplicity makes the gridlocked complexity of desktop Quicken look painfully obsolete.

These sites and other competitors promise tantalizing upgrades. For example, Mint says it will soon add mortgages, with estimates of home values from or another assessment source.

With such improvements, some smart borrowing (picture Mint's interface plus Wesabe's social smarts) and a solid record of security, Web personal-finance software could become an alternative along the lines of Web e-mail. Some people might never accept such a thing, but others wouldn't think of using anything else

Jensen Comment
Pegararo failed to research online complete Webledger systems such as Net Suite and other important sites that will not only perform accounting functions, manage inventories, manage receivables, perform financial analyses, and do all sorts of sophisticated financial analyses. These Webledger systems will also store accounting records so they can be accessed all over the world and allow users to avoid paying for expensive hardware/software technical support, backup systems, and consultants ---

Pegararo also fails to mention many of the personal finance Web options and small business accounting options:

Pegararo might not have found the Web options coming up short if he'd done more research for the above article.

Peachtree Accounting Practice Sets ---
Richard Campbell uses and likes these practice sets --- Richard Campbell [campbell@RIO.EDU]

Maple's Document Management System

October 30, 2008 message from Scott Bonacker [lister@BONACKERS.COM]

This came as part of a subscription to a technology newsletter, I haven't tried this product myself.  Scott Bonacker CPA, Springfield, MO]

As an IT professional, chances are good that you have lots of detailed information that you have to keep track of in order to do your job effectively and efficiently. You probably have a multitude of documents stored in a multitude of folders on your hard disk. Using a series of documents and folders to store all your information is a pretty logical way of doing things, especially when used in combination with Vista’s Search tool and Saved searches feature, keeping track of all that information is pretty easy. However, it could be better — especially if all that information could be made available in one place.

Well, I recently discovered a very nice document manager called Maple from Crystal Office Systems that runs perfectly on Windows Vista and produces what is essentially a document database. In this edition of the Windows Vista Report, I’ll introduce you to Maple and show you how to use it manage your document collection.

This blog post is also available in the PDF format in a TechRepublic Download.

Getting Maple

You can download Maple from the Crystal Office Systems Web site. Once you download it, installation is a snap and you’ll be ready begin creating you custom document database in no time. You can download and try Maple for 30 days at no cost. A single-user license is $21.95.

When you access the Crystal Office Systems Web site, you’ll also notice that there is another version of this document manager called Maple Professional, which provides a set of advanced features. You’ll also find free reader called Maple Reader that will allow other users to view any document database created with either Maple or Maple Professional.


Read the rest at

Bob Jensen's threads on accounting software are at

Bob Jensen's threads on tools and tricks of the trade are at

Software Advice ---

PWC Technology Forecasts ---
Also see

Newer software tools (in 2007) for financial analysis ---

ACCPAC CFO (Comprehensive Financial Optimizer) is designed for small and medium-size enterprises and can help make business-planning decisions by modeling the impact of various options. This is accomplished by demonstrating the what-if outcomes of small changes. A roll forward feature prepares budgets or forecast reports in minutes. The program also generates a financial scorecard of key financial information and indicators.

Customized Financial Analysis by BizBench provides financial benchmarking to determine how a company compares to others in its industry by using the Risk Management Association (RMA) database. It also highlights key ratios that need improvement and year-to-year trend analysis. A unique function, Back Calculation, calculates the profit targets or the appropriate asset base to support existing sales and profitability. Its DuPont Model Analysis demonstrates how each ratio affects return on equity.

Financial Analysis CS reviews and compares a client’s financial position with business peers or industry standards. It also can compare multiple locations of a single business to determine which are most profitable. Users who subscribe to the RMA option can integrate with Financial Analysis CS, which then lets them provide aggregated financial indicators of peers or industry standards, showing clients how their businesses compare.

iLumen regularly collects a client’s financial information to provide ongoing analysis. It also provides benchmarking information, comparing the client’s financial performance with industry peers. The system is Web-based and can monitor a client’s performance on a monthly, quarterly and annual basis. The network can upload a trial balance file directly from any accounting software program and provide charts, graphs and ratios that demonstrate a company’s performance for the period. Analysis tools are viewed through customized dashboards.

PlanGuru by New Horizon Technologies can generate client-ready integrated balance sheets, income statements and cash-flow statements. The program includes tools for analyzing data, making projections, forecasting and budgeting. It also supports multiple resulting scenarios. The system can calculate up to 21 financial ratios as well as the breakeven point. PlanGuru uses a spreadsheet-style interface and wizards that guide users through data entry. It can import from Excel, QuickBooks, Peachtree and plain text files. It comes in professional and consultant editions. An add-on, called the Business Analyzer, calculates benchmarks.

ProfitCents by Sageworks is Web-based, so it requires no software or updates. It integrates with QuickBooks, CCH, Caseware, Creative Solutions and Best Software applications. It also provides a wide variety of businesses analyses for nonprofits and sole proprietorships. The company offers free consulting, training and customer support. It’s also available in Spanish.

ProfitSystem fx Profit Driver by CCH Tax and Accounting provides a wide range of financial diagnostics and analytics. It provides data in spreadsheet form and can calculate benchmarking against industry standards. The program can track up to 40 periods.


Free General Ledger Software (Accounting) ---


New and enhanced features in QuickBooks 2010 ---

39 Free QuickBooks Online Tutorials ---
Thank you Crystalynn Shelton and Kristian Rivera --- |

Profiles of Software Systems and Tools ---

RiverGuide provides in-depth profiles, comparisons, and reviews of accounting software products, and would be a valuable resource for users of your site ---

Accounting Software Ratings

May 2, 2007 message from Jessica Valdes

I am writing on behalf of, which is a site that lists accounting software reviews and ratings.  We only list qualified companies that are upstanding and reputable.  This will be a good resource to add to your site for accounting companies that are in search of vendors who offer accounting software.  I would like to know if you'd be interested in adding our link to your site.

Please review this information and let me know if you are interested in such a relationship with our company. If I have contacted you in the past, my apologies.

Title - Accounting Software Reviews and Ratings
Description - Free portal of reviews and ratings of accounting software to help companies consider options for selecting new software.

Thanks and best regards!

Jessica Valdes

"Top Technologies for Accounting Pros Announced," SmartPros, June 11, 2007 ---

People looking for accounting and management software often forget about the wonderful Webledger alternatives where a heavy duty IT system is maintained in a central location by the software system vendor such that  users can access the system on the Web and do not need their own hardware, software, and expensive maintenance technicians. Webledger systems have excellent backup computer and power systems such that the chances of going down are almost zero except in nuclear war.

My favorite Webledger alterntive is NetSuite at
NetSuite commenced under the name NetLedger with financing from the CEO of Oracle. For all practical purposes it is an Oracle company.

Bob Jensen's Threads on Webledgers for Distributed Network Computing of Accounting Systems and Business Services
The above site is not one that I actively update. Hence, some of the links may be broken and their may have been some buyouts and mergers that I've not tracked in the past year or two.

Retail Software Comparisons ---
The new link should go to:

Former accounting professor Tom Selling (Dartmouth, Wake Forest, SEC, and Thunderbird) started the Grovesite Software Company ---

Formal Comparison of Accounting Software Packages

March 1, 2006 message from David Fordham, James Madison University [fordhadr@JMU.EDU]

Ruth Bender asked: "...more broadly, how should she start looking for the right package?"

One of the best tools I've ever come across for evaluating commercial accounting software packages is called "The Accounting Library", by a company out of Richmond Virginia called "Solutions, Inc."

The Accounting Library software covers well over 150 different commercial accounting packages. It includes ALL levels of software, from Quickbooks (at the very bottom of the product line), all the way up through SAP (the top). While 150 doesn't sound like a large number, believe me, it has everything you've ever heard of, and more.

What you do is, you answer a set of questionnaire-like questions dealing with the nature of your business and what you want your accounting package to do for you. The questionnaire can be quick-and-dirty, or extremely complex, depending on whether you are evaluating on behalf of Mom-And- Pop's Hotdog Stand, or Boeing Aircraft Corporation. You can spend weeks answering the full questionnaire if you want to. yes, it covers currency conversions (about 90 ways to Sunday as they say), analysis of just about everything (sales, costs, by product, by client, by sales rep, by the kitchen sink, etc.), and just about anything else you can think of.

After telling The Accounting Library about your business nature and what you expect the accounting package to do for you, TAL will then rank those products which meet or come close to your specs. You can then "drill down" into the ranking to find out WHY one package was rated higher than another, to find out which features you need that are or are marginally met in each package, etc. You also have the opportunity to reconsider your initial answers -- for example, during the drill-down exercise, you may decide that perhaps keeping track of subassemblies by date-manufactured isn't quite as important as you originally ranked it, or that maybe you need to generate an "aged inventory by serial number" report after all. You can then alter your original input, and re-run the evaluation.

I used TAL back when I was teaching the systems analysis classes, because it walks the students through a good "user needs analysis"... albeit in checklist form (I had to add a lot of meat to explain rationales, etc. and thus I used TAL as a support tool rather than a concepts tool.)

What's more, the product has a fantastic "introduction to accounting software", gives product descriptions and summaries of capabilities, etc. -- in general it's just a fantastic learning tool for comparing the many commercial- grade accounting packages out there.

The latest editions are also aimed at consultants who help companies procure and install software.

You might want to investigate TAL for your friend. The website is: 

If you decide the product is useful, telephone (U.S.: 1-804- 330-0000) and ask for Charles Chewning, and tell him that David Fordham of James Madison University told you about the product. No, I don't get a finders fee or commission, but he is a supporter of JMU (and the AIS educator's association too!) and might give you a discount on the product if he knows you found it through us. (It's a steal at full price, but hey, every few dollars helps!)

David Fordham
James Madison University

Financial Statements.xls:  A step-by-step Guide to Creating Financial Statements using Microsoft Excel, by Joseph Rubin, CPA ---

Auditing and Audit Sampling Software

May 2, 2006 message from Douglas Ziegenfuss [dziegenf@ODU.EDU]

I teach a graduate IT Auditing course in which we use both ACL and Idea. Both are taught because both are used in the business world. We use the version of ACL that comes with Hall's IT Auditing book. Idea sells the students a version and workbook for $25 per student and gives us a free copy of the software and workbook. The students then load the software on their laptops and bring them to class. This turns any classroom into a lab. The students generally like IDEA better but still enjoy ACL.

I hope this helps.

Douglas E. Ziegenfuss
Professor and Chair,
Department of Accounting
Room 2157 Constant Hall
Old Dominion University
Norfolk, Virginia 23529-0229

ACL Business Assurance Analytics ---
ACL is bundled with some auditing software textbooks, such as the Rittenberg text --- Click Here 

IDEA Data Analysis Software ---

May 2, 2006 reply from Roger Debreceny [roger@DEBRECENY.COM]

Over the years I have switched between ACL and IDEA. I currently use IDEA in my teaching. A major factor is that students greatly value having the ability to work on their own computer. I do not think there are substantial differences between the products or that the file size restrictions is a major problem.


"Small Business Software Grows Up:  Intense efforts for product improvements, by J. Carlton Collins, The Journal of Accountancy, March 2006 --- 

Microsoft’s introduction this year of its small business accounting software is challenging the two leading competitors—QuickBooks and Peachtree—to step up their efforts with products that are ever-more technologically powerful.

The competition will be intense because “Microsoft Small Business Accounting (MSBA) is technologically more advanced than either QuickBooks or Peachtree and its price strategy is hard to beat: It’s bundled free in selected 2006 versions of Microsoft Office. With more than 400 million users of Microsoft Office worldwide, even if only a small percentage of them upgrade to the 2006 version, the new accounting program could be in the hands of millions of users by the end of the year.

With products as complex and customizable as SBA software, it’s not prudent to rely fully on assessments of reviewers or colleagues. The only way to be sure a product works best for you or a client is to test it with your own accounting data.

If you’re going to buy QuickBooks or Peachtree, purchase the accountant’s editions. They contain nearly all the additional functionality found in the various other versions of the product and they’re typically priced lower.

The stakes in the competition for small business accounting software are high. The current estimated market of small businesses is between 15 million and 25 million, with 500,000 to 2 million new businesses starting each year. Clearly, small businesses will be the winner as their accounting tools continue to improve.

Bob Jensen's small business helpers are at

Peachtree Accounting Practice Sets ---



Free Spreadsheet Software
December 13, 2005 message from Richard J. Campbell [campbell@RIO.EDU]

Ray Ozzie of Microsoft has been talking about providing pieces of Office as a web service.

Here is a link to a free online spreadsheet: 

Richard J. Campbell

The American Institute of Certified Public Accountants (AICPA) unveiled a new Information Technology (IT) community Web site that contains resources, tools and guidance for CPAs interested or practicing in IT ---

Technology is the great enabler and one of the most powerful forces of change. Ever evolving and dynamic, technology touches much of what we do as CPAs. CPAs are able to utilize and leverage technology in ways that add value to clients, customers, and employers. The AICPA supports technology and technology-enabled services to improve business objectives and decision-making processes, including: business application processes, system integrity, knowledge management, system security, and the integration of new business processes and practices.


Beyond Excel
ActiveData for Office is a major step forward for our users and for InfromationActive,” Michael Pluscauskas, President of InformationActive Inc. said in a press release announcing the general availability. “This product provides our customers with a flexible and dynamic platform that not only breaks the Microsoft Excel™ row barrier, but also is adaptable and expandable for future planned functionality. Users have been asking for a powerful data analysis tool that works with Microsoft Office and we have given them that and much more. I’m also proud of the fact that we’ve provided an exceptionally robust product at a very competitive price.” ActiveData for Office stretches the boundaries of traditional data analysis tools by providing exceptional integration with Microsoft Office. Users can append documents and web pages to their analysis and archive the entire file in addition to analyzing millions of rows of data quickly thus providing new levels of information control while still allowing the flexibility to view results within ActiveDatae for Office or Microsoft Excel. ActiveData for Office also includes macro capability for recording commonly performed tasks and full audit trail capabilities.
"The Next Level of Computer Aided Audit Tools," AccountingWeb, August 15, 2005 ---

"Accounting Today Lists Top 100 Technology Products for 2005," SmartPros, December 28, 2004 --- 

The December edition of Accounting Today, a Thomson Media publication, published its 12th annual Top 100 Technology Products in the accounting profession, listing the best and most proven applications in 17 categories.

All products listed offer users tools they need to resolve both minor inconveniences and larger problems that could threaten the health and lifeline of their businesses.

Products included on this year's roster have been listed in the following categories: High-End and Mid-Market Accounting; Small Business Accounting; Client Write-Up; Customer Relationship Management; Enterprise Resource Planning; Financial Planning; Fixed Assets; Forms; Non-Profits; Payroll; Planning and Analysis; Practice Management; Tax Planning and Preparation; Tax Research; and Trial Balance.

This year, two new categories -- Internet Suites and Document Management -- have been added, and the Tax Planning and Preparation categories have been combined to better reflect the availability and range of products.

"We feel our 2005 ranking truly represents the broad scope of technology solutions available within the accounting profession," said Bill Carlino, editor-in-chief of Accounting Today. "While some may be quite familiar to practitioners, others have begun to establish a high-profile presence within technology circles."

Each year, products are evaluated by the magazine's editorial staff and judged by their quality, practitioner acceptance, market visibility, product performance, vendor support and product innovation, measured against marketplace needs.

The 2005 Top 100 Technology Product listing is also available on Accounting Today's sister Web site,

FOUNDATION Construction Accounting Software Wins Award
FOUNDATION Software received the award as the software supplier for Lighthouse Electric, a two-time winner of the prestigious Silver Vision Award in the subcontractor category. Lighthouse earned its second Vision Award for innovative labor management plan that promises to save over $100,000 in labor costs each year. By using the features of FOUNDATION, as well as those form Congistics ControlBoard, a tracking and scheduling application, Lighthouse was able to create a separate function for the management of manpower that utilizes a single powerful Microsoft SQL database. “Our challenge was to utilize technology and procedures in a way that would easily disburse and control our biggest cost: labor,” Ron Felix, CIO of Lighthouse Electric said in explaining how technology and business came together for his company.
"FOUNDATION Construction Accounting Software Wins Award," AccountingWeb, September 6, 2005 ---

"Award-Winning Accounting Software for Small Businesses," AccountingWeb, July 22, 2005 ---

Sage Software produces two of the top accounting solutions for small businesses, not just according to accountants but also according to the technology crowd. Simply Accounting and Peachtree, two of Sage Software’s accounting solutions have won honors and awards from the media recently. Peachtree Premium Accounting 2005 was awarded five of five stars and Simply Accounting received four-and-a-half of five stars in CPA Technology Advisor’s listing of Small Business Accounting Software for 2005. The evaluation looked at six categories:

Basic Functionality/Ease-of-Use

Available Modules/Customization for Vertical Industries


Reporting and Management Functions

Audit Trail, Integrity and Accountant Control Tools and

Help and Support Options. Peachtree Premium received five stars in five categories to earn its five star overall rating. The only category it did not earn five stars in was Help and Support, where its well-built help utility, online Peachtree Knowledge Center, additional support features and several optional support plans merited only four-and-a-half stars.

Simply Accounting received four-and-a-half stars in five categories. More than 100 customizable predefined reports which can be integrated with both MS Word and Excel as well as a version of Crystal Reports allowing for custom report creation and combine it with the Daily Business Manager, payroll support functions and inventory management earned Simply Accounting it’s only five star rating in Reporting and Management Functions.

Simply Accounting has also been honored with a 2005 World Class Award for small business accounting from PC World. It is the third consecutive year Simply Accounting has earned this honor. The World Class Awards honor products combining practical features with innovation and that reflect the rapidly changing technology marketplace. PC World’s editors pick winners for their exemplary design, usability, features, performance, innovation and price.

“The ultimate buyers guide, World Class Awards set the standard for excellence in the high-tech and consumer electronics industries,” states PC World editor-in-chief Harry McCracken. “From desktop publishers to travel routers to satellite radio and video instant messenger services, the editors reward the finest products and most outstanding performers in this annual award program. Congratulations to Simply Accounting.”

Peachtree is Sage Software’s primary brand for small business accounting in the U.S. Simply Accounting is the bestselling small business accounting product in Canada.

"Companies Offer Tech Solutions For Complex Finance Problems ," AccountingWEB, May 9, 2005 ---

Software makers are coming up with new ways for companies to manage vast amounts of financial data. From the complexities of complying with the Sarbanes-Oxley corporate reform law to the everyday tasks involved with financial reporting, new products are being offered to help companies do the work more efficiently.

Here is a sampling:

Applix, Inc. – The software maker announced Tuesday that it has upgraded its TM1 suite so that users can do more sophisticated financial reporting and consolidations. Wizards have been added so that financial data can be imported more quickly from general ledger, accounting and legacy systems into Business Performance Management applications.

A new offering is TM1 Financial Consolidations, which supports journal entries, inter-company eliminations and other activities specific to the consolidation process.

“Good financial planning begins with the actuals, is followed by a planning process and ends with a comparison of the subsequent actual results to the plan,” said David Menninger, Applix vice president, worldwide marketing and product management, in a statement. “The ability to access information from multiple sources, present it in an easy-to-use, familiar environment and act upon it for everything from reporting to planning to forecasting enables companies to reduce cycle times, increase competitiveness and have greater trust in the information.”

The improvements are available for beta use now. Contact Brian Barnes at

Movaris - The company, which provides Financial Control Management software, has developed Certainty 8.1 to allow companies to manage reorganizations, mergers and acquisitions, and personnel changes as they affect the financial control environment.

Certainty 8.1 can change the users who are assigned to hundreds of financial control tests, which improves corporate security. It can update multiple financial control attributes. It allows for comparisons of control activities at different points in time. “With visibility into changes in the control environment over time, managers identify improvements and the impact of change on their business unit, and auditors identify the controls in place at the time an issue or exception occurred,” the company said.

Stan Tims, vice president of marketing and business development at Movaris, said in a statement that companies will need to consolidate time-consuming tasks to comply with Sarbanes-Oxley in a cost-effective way.

"Key technologies can reduce the cost of SOX compliance upwards of 25 percent, as compliance has been a mostly manual, people-intensive process. Most companies cannot (and should not) maintain this level of manpower, though the need for compliance will not shrink," said John Hagerty, analyst for AMR Research in a January 2005 report, SOX Decisions for 2005: Step Up Technology Investments.

Continued in the article

Great Comparisons of Tax Software
"Tax Software Makes the Grade, by Stanley Zarowin, Journal of Accountancy, September 2005, pp. 48-60 ---

When asked to rate their overall satisfaction with the 13 tax software products in the survey this year, the 3,156 AICPA Tax Section members who responded to the survey came up with a combined average score of 4.23 (out of a perfect 5.00), a significant gain from last year’s 4.03. In addition to the eight packages rated last year, three new products received the minimum required 10 responses from our CPA respondents. (For details about all the vendors in the survey, see exhibit 1; for a complete scorecard on the satisfaction grades, see exhibit 2; and for technical details about the products, see exhibit 6.)

Tied for first place in the overall-satisfaction category, with ratings of 4.46, were Intuit’s highly popular Lacerte and the much smaller Dunphy System’s Tax Software for the Professional. Lacerte inched up from last year’s 4.32 rating; since Dunphy was not in last year’s survey, it has no year-ago rating. Tied for second place with 4.44 were Drake Software and Taxware System’s Taxware Tax Preparation; both are new to the survey this year.

Continued in detail in the article

September 7, 2005 reply from Kurt Wilner

Dear Professor Jensen, I feel kinda cheated that your post didn't look beyond the 'big boys' surveyed by the AICPA. In my case, I jumped from Lacerte the year after Intuit bought it -- and jacked its fees up majorly -- to ATX, which seems to serve a huge base of "small practices" such as my own. ATX makes the grade in 'The CPA Journal" and other mags; so I wonder why it's neglected by your own cite -- which, in general, I prize for its independence from commercial trends. Could you comment further upon this, please?

Sincerely yours,

Kurt Wilner

On July 11, 2005 Barbara Scofield clued me into IDEA Software described at

NextNet 5.0 for New Product Development
NextNet 5.0 enables you to find the best ideas for new products, fast. By expanding your reach, streamlining evaluation, prioritization, and selection, the best product ideas and enhancements rise to top of the heap. NextNet brings predictability and profitability to the so-called 'fuzzy front end' of product development. NextNet has been used by product development teams in major corporations to rapidly discover and develop multi-million dollar market opportunities.
(Click Here)

SaveNet 5.0 for Process Improvement
SaveNet 5.0 is the tried and true solution to make your operation more efficient. SaveNet enables you to eliminate waste, improve yields and streamline processes all with little or no addtional management time. SaveNet is also a powerful motivator of employee morale and team spirit in the workplace. SaveNet has been used by major corporations to continously discover hundreds of thousands of dollars in cost-savings.

Custom Innovation Management Solutions
The General Ideas Innovation Pipleline Management (IPM) Platform is a highly versatile software platform that can be configured and customized for specialized applications of Idea Management. General Ideas employs the full flexibility of the IPM platform, configuring workflows, alerts, data capture forms, permissions and metrics to ensure effective Innovation Management. General Ideas has worked with companies to create custom Idea Management solutions for: Intellectual Property, IT Portfolio Management, Six Sigma, Employee Suggestions, Total Quality Management, Corporate Strategy, Marketing and Business Development.

July 13, 2005 reply from Bonnie Morris, West Virginia University [bmorris@WVU.EDU]

Contact Audimation Services 888 641 2800 

They have IDEA 2004 Workbook. It has 3 datasets and exercises (AR, AP and Fraud Investigation, and Inventory Analysis)

Accounting Software
EmeraldKey Technologies, Inc. introduced Envision Accounting Software for accounting and financial professionals last week. Envision Accounting Software provides a comprehensive solution to meet all business management needs, including financial accounting, project management, client management, time and expenses, billing, payroll, budgets/forecasts, real-time reporting and Web-enablement.
"Introducing Envision Accounting Software for Accounting & Financial Professionals," AccountingWeb, August 24, 2005 ---

Accounting Professional Site Links 
The CPA Team  

Freeware Guide for Business and Finance ---

Tax Software 

AccountingWEB's Software Resource Center --- 
Software Search Here 
Accounting Software Library 
New stuff --- 
Old Stuff --- Jensen & Sandlin Survey of U.S. Accountancy Education Programs
Bruce Hutton CGA - Accounting: Software, Publications and Bookkeeping Software
The Software Review Source (Add Your Own Review)
AccountingNet is the complete online resource for accounting professionals: Accounting
Beginning WebCT (Creation of Web Pages)
Accounting Related Resources
Accounting Library FREE DEMO and FTP Page
Accounting Systems -- Accounting System Locator / Selector
AuditNet: Internet Resources for Auditors
Excelco / SouthWare Main Page
Peachtree Software Home Page
Home Page for MicroMash
archipelago productions (Distributed Learning Courses)
TAL Standard Edition "Quick LOOK" AIA Accounting Information Systems
Spreadsheets in Education

NPO = Not-for-Profit
"Sizing Up NPO Software," Roberta Ann Jones, Journal of Accountancy, November 2000, pp. 28-44 --- 

"Using Software to Sniff Out Fraud," Amey Stone, Business Week, September 30, 2004 --- 

The Journal of Accountancy ran an article showing how a Benford's Law application in Excel led to discovery of a fraud.

"Turn Excel Into a Financial Sleuth," by Anna M. Rose and Jacob M. Rose, The Journal of Accountancy, August 2003 --- 

Bob Jensen's threads on accounting software are at

Technology sites from Smart Stops on the Web, Journal of Accountancy, June 2005 ---


Check Out Check 21
The AICPA Financial Literacy Resource Center has added a section to its Web site about the Check Clearing for the 21st Century Act (Check 21). The Web site discusses the act’s implications for auditors and businesses, and provides links to the Federal Reserve Board’s “Check Clearing for the 21st Century Act” Web page and implementation information, two frequently-asked-questions sections and a consumer guide.

A Site With Byte
CPAs and IT managers will want to bookmark this Smart Stop loaded with links to free accounting, antispam and backup software, currency and document converters, mortgage calculators, computing and financial glossaries and Web browsers. There are online dictionaries in English as well as French, German, Italian and Spanish. There’s also free clipart, fonts and photos that CPAs can use for marketing brochures, and everyone can take a break in the Jokes and Humor and Free Games sections.

Figure for Free
Sure, you already have mortgage, percentage, scientific and standard e-calculators. This site offers calculators for car leases, fractions, graphing, and home equity and general loans, plus converters for currency, international time, temperature and units of measure. There’s also a link to the tax-preparation-service calculator site with tools CPAs can use to calculate investments, mortgage refinancing and Roth IRA returns for clients. Other resources include current and archived tax news, a 2005 tax guide and information about a free online tax-filing program.

Tech Talk
CITPs and other information technology professionals can find resources here on IT capital spending, department budgets and salary ranges. Download the demo software, read book reviews or subscribe to the free monthly IT e-zine and newsletter. Technology Articles has tips on making your e-mails sound more professional and improving your project team management skills, while the Job Listing Centers invite employers to post open positions. IT White Paper Spotlight offers documents on subjects from artificial intelligence to knowledge management.

Painless Projects
Looking for more efficient ways to manage IT procedures and roll out new technology? Then register for a free membership at this e-stop to access information on managing IT operations and receive a monthly e-mail reporting on the latest task management resources. Members can download planning checklists, mission and scope statement templates and white papers on IT process improvements.

Bob Jensen's technology bookmarks are at

Information Technology Sites, From Smart Stops on the Web, Journal of Accountancy, May 2004, Page 23 --- 


For IT Educators and Leaders
Here, CPAs who specialize in IT professional development can find helpful resources such as tips on needs assessment for offices or classrooms and articles including “Data Can Drive Development.” Users also can read software reviews and find links to general search engines as well as to an encyclopedia with more than 20,000 IT terms.

Free Online Resources
CPA IT professionals can register for free at this Web stop and enroll in gratis e-seminars on topics such as best practices for enterprise data integration, information security and wireless LAN deployment. Users seeking to advise clients on application storage management systems will want to give them the quick quiz “Do You Need to Automate?” before proceeding.

Read to Keep Up
In addition to providing free either two hard copies of the magazine or a digital issue, Technology Review offers visitors to its Web site a free subscription to the newsletter Technology Review Update. Other gratis offerings include the sections Predictive Markets, where users can predict future outcomes of IT issues to win prizes, and Research News, which has links to information on industry innovations.

Less Search Time, More Results
CPAs looking for IT articles from the past 12 years can register here for a free seven-day trial. Users can search more than 150 publications, store favorite articles directly online at this site, keep track of what they’ve looked at—saved or not—and let KeepMedia find other articles based on their previous choices. A general search on the word technology returned more than 14,000 results.

Telecommuting Technology
CPAs working from home or remote locations can find case studies and statistics on this trend through the frequently-asked-questions section at June Langhoff’s Telecommuting Resource Center. Also, visitors can look through the business travelers’ survival guide to find tips and links to airlines, ATM locations and business services for mobile users. Companies interested in starting a work-at-home program can research the costs and get links to model telecommuting agreements and policies.

“The Silly Con Valley Report”
Don’t be fooled by this Web site’s light tone: Useful nuggets of information, including the latest reports on software designs, how to thwart spam and a 300-Gb hard drive, can be found beneath all the humor. Also, users can read up on the latest in broadband and handheld technology and Windows XP through the newsfeed links as well as join up for a free weekly e-newsletter.


Commercial Accounting Sites

Bob Jensen's Links to Accounting Software and Vendors (this list is outdated!)
XBRL Updates --- 
Accounting Related Resources
AccountingNet is the complete online resource for accounting professionals: Accounting
Accounting and Financial Information
Accounting Net - Your Internet Link to the Accounting World
CPA Online: Your source for Accounting Information on the Internet
Bob Jensen's Vendor Database (this list is outdated!)
Course Resources
CyberCpa - Resources
Jensen & Sandlin Survey of Accountancy Education Programs (Outdated)
Jensen & Sandlin Survey of Commerical Learning Materials in Accounting (Outdated)
K2 Enterprises Accountants Hotlist
Site Seeker
Home Page for MicroMash

AIS, Databases, Auditing, and Assurance Services

Accounting Software ---

2018:  Best Inventory Management Software with Accounting ---

Enter "cloud software" AND "accounting at

Enter "cloud software" AND "accounting at

Cloud-Based Accounting Software ---

July 2014
The CFO Guide to Budgeting Software: 10 Key Elements Companies Should Look For --- Click Here

From the CPA Newsletter on September 4, 2014

CPA practitioners rate their tax preparation software
Likes, dislikes, technical support and more -- CPA tax practitioners once again this year share their assessments of the leading programs for preparing and filing tax returns on behalf of clients. Extensive tables and analysis give users' responses for eight products. A link from the article provides free online access to still more detailed results and information. Journal of Accountancy print issue (9/2014)

Bob Jensen's neglected threads on accounting and tax software ---

Worldwide Directory of Accountants and Consultants ---

Bob Jensen's helpers on how choosing professional advice ---

Information Systems Audit and Control Association and Foundation Web (ISACA) site --- 

Electronic Commerce: 

Assurance Services: 

How CPAs Rated Their Tax Software ---

Find Accounting Software (commercial site) ---
Audit Analytics ---

A Premium Audit Industry Market Intelligence Service Audit Analytics has information on over 20,000 public registrants and over 1,500 audit firms. It is the most comprehensive market intelligence tool for the audit industry available today. currently offers over 60 data fields to its users. Access to this data is available as on-line user subscriptions, as enterprise data feed subscriptions, and in custom reports.

Huron is the main source of restatement statistics ---

Gerald Trite's great set of links --- 

Online Magazine (for Information Professionals) ---

ONLINE is written for Information Professionals and provides articles, product reviews, case studies, evaluation, and informed opinion about selecting, using, and managing electronic information products, plus industry and professional information about online database systems, CD-ROM, and the Internet. This site contains selected full-text articles and news from each issue of the magazine. Direct letters to the editor to Marydee Ojala ( ). If you are interested in writing for ONLINE, please see the Authors' Guidelines.

Artificial Intelligence and Expert Systems

Links to Journals on Artificial Intelligence
American Accounting Association Special Interest Group
Brown and O'Leary Tutorial
Gal and Steinbart
Bibliography of AI Literature (With Updates)
A. B. I. S. A. (index)
Finance and Investment Links (Neural Networks)
MultiLogic (EXSYS Expert Systems Software)

Assurance Services

 Accounting Professional Site Links 
The CPA Team  

Electronic Commerce --- 

Assurance Serivices --- 
(Including SysTrust, WebTrust, Truste, BBB, etc.)

For Eldercare Information

Impact of Technology
New Opportunities
Range of Services
Site Map
AICPA Discussion Forum
AICPA Feedback
PC Meter Tackles Web Measurement (Accounitng Assurance Services)
CPA WebTrust Slides
Computer Security Issues
Introduction to Internet Security
The Capability Maturity Model (CMM) For Software
Deloitte & Touche Risk Management & Control: Visual Assurance

Also see E-Commerce

Bankruptcy Helpers

"The Business of Bankruptcy:  CPAs can't make a bad economy go away, but they can provide value to clients on the ropes," y Victoria Zunitch and Michael Hayes, Journal of Accountancy, February 2002, pp. 35-39 --- 


A CPA FIRM WITH A CLIENT filing for bankruptcy has a responsibility to serve the client as well as an opportunity to compete for some of the work on the case—and through it develop a specialty. The need for bankruptcy services is expected to grow for a while.

CPAs SOMETIMES ARE THRUST into the field when a client goes broke, but a firm that has time to plan can develop the niche strategically. The bulk of bankruptcy work comes from attorney referrals.

A PERUSAL OF THE PUBLIC RECORDS of your local bankruptcy court and the U.S. Trustee Office will identify the accountants, lawyers, trustees, examiners and other advisers who are players in your market.

THE EXACTING BILLING requirements of the court affect every novice in bankruptcy work and are a continual challenge even for seasoned practitioners. CPAs are at minimum risk because the court’s first administrative priority is to cover the expenses of a bankruptcy.

DURING A BANKRUPTCY, debtors, creditors’ committees, trustees and other entities need CPA services. A firm should look first for clients that need services it already provides, such as tax preparation or monthly reports.

CONFLICT-OF-INTEREST CONSIDERATIONS usually require the work to be parceled out to several accounting firms, which means attorneys are always looking for new CPAs with whom to work.

VICTORIA M. ZUNITCH is a freelance business writer based in New York. Her e-mail address is MICHAEL HAYES is a senior editor on the JofA. Ms. Hayes is an employee of the AICPA and her views, as expressed in this article, do not necessarily reflect the views of the Institute. Official positions are determined through certain specific committee procedures, due process and deliberation.

From Smart Stops on the Web, Journal of Accountancy, February 2002, Page 25 --- 

Intro to Bankruptcy Law

This site offers information on Chapter 7, Chapter 11 and Chapter 13 bankruptcy law, forms and court filing procedures. Users can access online tutorials on the following topics: types of bankruptcy, the structure of bankruptcy law, exemption and property law, and how to calculate equity.

Bankruptcy-Law Links

The law firm Swiggart & Agin, LLC, in Boston hosts the Bankruptcy Lawfinder, offering users related information and resources. Site sections include courts and cases, regulations and statutes. The bankruptcy law resources section includes links to the American Bankruptcy Institute, a directory of companies in Chapter 11 proceedings and the Center for Debt Management.

Peachtree Accounting has a short new name and huge new prices

"Sticker Shock Awaits Sage 50/Peachtree Payroll Service Users," by David Ringstrom, AccountingWeb, April 16, 2013 ---

The 2014 version of Sage 50, formerly known as Peachtree Accounting, is available for purchase now. As a result, certain users who rely on the payroll subscription are going to experience sticker shock in the near future. Historically, you could purchase a Sage 50/Peachtree Accounting product and pay an additional fee for the annual payroll service that makes it easy to calculate withholding taxes. As long as your accounting software was one of the three most recent versions, the annual payroll service typically cost around $300/year. Such users are about to see their annual costs increase by a factor of two, three, or even more.

For several years, Sage has offered an optional Business Care program that entitled users to priority support and automatic program upgrades. This program is now mandatory if you want to process payroll in the software. The Sage Business Care program is being offered at three levels:

Silver Gold Platinum

The Silver plan offers unlimited support, annual product upgrades, and the Business Intelligence feature that allows you to analyze your accounting data in Microsoft Excel. However, if you wish to process payroll within Sage 50, you must sign up for the Gold or Platinum programs. The Gold program allows you to process payroll for up to fifty users, while the Platinum program offers unlimited payroll as well as priority access to a dedicated support team that offers appointment scheduling.

Business Care is an annual subscription, which means that rather than buying the software and sitting out a couple of upgrade cycles, you must continue your Business Care subscription year after year in order to process payroll in Sage 50.

Sage doesn't disclose pricing for the Gold or Platinum programs on its website, because the pricing varies based on which version of Peachtree/Sage 50 you're currently using and the number of simultaneous users you require. In general, the first year of business care will be at a higher price, with savings each year for annual consecutive renewals. As a point of reference, a Silver Business Care subscription for a three-user license for Peachtree Complete Accounting is $669/year. This doesn't include payroll, so it means your ongoing annual expense will likely be at least $800/year, year-in, year-out, as opposed to the $300 or so that you could formerly pay to add a payroll subscription.

Continued in article

There is a somewhat useful 2011 Peachtree versus Quickbooks site at 
Pricing comparisons before April 2013 are probably out of date.

Helping Community College Graduates Find Careers
The Community-College Employer Connection --- 


Bob Jensen's Threads on Professional Practice, Fees, Choosing Accountants, Financial Advisors, and Consultants ---
CPAs who need help deciphering “lawyerspeak” can find concise definitions of legal terminology at this e-stop as well as the meaning of general business terms such as bankruptcy.
Need to know the difference between an act of God and an act of nature? The legal terms section of this online business dictionary defines them as one and the same. The Commerce Database categorizes words into separate business and legal dictionaries: The business one offers categories such as accounting.
CPAs interested in legal topics such as bankruptcy, civil rights, employment, labor and tax laws can find various terms explained in the articles section for each category at this Web stop. In addition visitors can register for free monthly newsletters on bankruptcy, employment, family and tax law.


See also Small Business Helpers

Fees and Professionalism

Message from FERF on February 24, 2004

Auditor Fees

An FEI member recently asked research as to whether a database exists of how much audit firms charge in audit fees relative to size of clients and billable rates per hour.

FERF researchers found information broken down by company size in the recent FEI Sarbanes-Oxley Section 404 survey results issued earlier in February Although billable rates are not given, an excel table details incremental audit fees for the Section 404 attestation and the % increase this fee represents of their current audit fee. Various groupings of responses are given by size of company based on revenue.

In April 2003, FEI's Committee on Corporate Reporting (CCR) surveyed its members on 2002 audit fees. Twenty-five companies with total US assets of between $0.4 billion and $1,097 billion responded. Findings and an excel table are available under Finance Tools at

Aspen Publishing recently released the 5th edition of "Professionals Guide to Value Pricing." The book discusse related value pricing vs. audit firm hourly rates. A description of the book can be found at:


Bob Jensen's guides to fees and related matters are at 

Services Offered by Professional Accounting Firms (including how to find them) --- 

From Smart Stops on the Web, Journal of Accountancy, July 2007 ---


The NASD has answered the calls of investors looking for background information on potential financial service providers. The organization’s BrokerCheck Program lets users research current or formerly registered securities firms, individual brokers and regulated Investment Adviser firms. It also provides a comprehensive 10-year business and licensure history and list of disclosure events, including criminal actions, customer complaints and disciplinary actions by regulators against the firm or broker. Investors receive an electronic disclosure report as well as access to other educational services, including the Professional Designation Database and state disclosure programs.


Whether you’re living on a student’s budget or a CFO’s salary, Free Money Finance has innovative ideas for increasing net worth, budgeting and maximizing retirement savings that you can immediately put into practice. On Mondays, check out “Star Money Articles,” a posting of news and tips from several of the Web’s popular personal finance sites. Take a few minutes on Fridays to read “One Year Ago,” popular posts from the prior year, to jump-start a frugal weekend.


Visit this Smart Stop for the latest tax news and information affecting the employee plans community. CPAs can search for resources on employee plans (EP) examinations and enforcement, retirement plans, benefit audits and correcting EP errors. Click on the “EP/Forms/Pubs/Products” link for access to PDF versions of EP forms and publications, plus in-depth instructions for form 5500, Annual Return/Report of Employee Benefit Plan, and form 5330, Return of Excise Taxes Related to Employee Benefit Plans.


Visit Chicago-area attorney Joel Schoenmeyer’s Web site to brush up on topics straddling the lines between law, accounting and wealth management. Death and Taxes—The Blog offers estate planning and administration news and commentary, plus coverage of legal issues about real estate, gift and income taxes, trusts and charitable giving.

Bob Jensen's investment helpers are at


Audit Analytics ---

A Premium Audit Industry Market Intelligence Service Audit Analytics has information on over 20,000 public registrants and over 1,500 audit firms. It is the most comprehensive market intelligence tool for the audit industry available today. currently offers over 60 data fields to its users. Access to this data is available as on-line user subscriptions, as enterprise data feed subscriptions, and in custom reports.

Frauds and Fraud Examination

The FBI's Internet Fraud and Complaint Center (IFCC FBI)
To thwart fraud on the Internet and terror in general, check in and/or report to

Bob Jensen's Threads on Accounting Fraud --- 

Message from FERF on February 24, 2004

Fraud Checklists

Another FEI member responsible for a Sarbanes-Oxley 404 engagement recently inquired about a "checklist that can be used at the process level to help identify the types of fraud concerns related to a specific process."

FERF researchers found the following references:

An Appendix to Statement on Auditing Standards No. 99, Consideration of Fraud in a Financial Statement Audit (SAS 99), provides examples of fraud risk factors. The appendix is available at the AICPA website at:

The Association of Certified Fraud Examiners provides a fraud prevention checkup that can be used to assist in determining an "entity's vulnerability to fraud."

In January 2003, the Institute of Internal Auditors conducted a survey on red flags used to detect fraud. Though the survey is closed, the text can be used as a checklist.

Somewhat related to the issue of fraud, Mutual Interest published an article about SAS 99 and fraud:

FERF also wrote an article on fraud detection that will be published in the March/April 2004 issue of FE Magazine that will soon be available at

Bob Jensen's main fraud links are at

Services Offered by Professional Accounting Firms (including how to find them) --- 


Databases, ACCESS, ODBC, and Queries

A great listing of URLs of companies selling accounting systems software

Bob Jensen's AIS course ---

SQL Ledger ---


Application Development Trends
SAP Homepage (Accounting Information Systems)
Microsoft Access Accounting Systems
Application Development Trends (Information Systems, Databases)
ACCT 5342 Accounting Inrformation Systems (Includes ACCESS links)
QueryTool (Databases, ODBC)
SnmpQL SQL Examples
Index of /~jbarlow/dbclass/fall.95/ SQL examples/
CS 265 - SQL Examples MS Assexx
Technical Glossary @IceNH
Microsoft Access Health Care Solutions
A Metalanguage for Describing Internet Resources
SAP R/3 Design Center [SAP] PriceWaterhouse Coopers
DatatelHome Page
EDUCATIONSYSTEMS (SCT Education and Accounting Information Systems)
CARSInformation Systems
PeopleSoft:Meet PeopleSoft

Julie Smith David Homepage
ACC330: Accounting Information Systems at Arizona State University

Joseph H. Callaghan, Thomas W. Lauer, and Eileen Peacock
Oakland University's School of Business Administration

An AIS Curriculum Using a Model-Oriented, Tool-Enhanced (MOTE) Framework

The innovation consists of a curriculum, instructional strategy, teaching approach, and a set of related teaching materials.  Evidence of this implemented innovation is composed of the following:

  • An Executive Summary
  • Several articles describing the innovation and its foundation elements
  • Attestations from academics, students, practitioners, and employers
  • Course syllabi for the three courses in the curriculum:
         ACC 418/618, Computerized Accounting Information Systems
         ACC 419/619, Accounting Information Systems: Design
         ACC 480/680, Special Topics in Accounting Information Systems
  • Examples of course materials used in the curriculum
  • Data Modeling Case example Business Process Case example Sy's Fish Case example PLACE Case

At its core, the MOTE approach aims to teach conceptual understanding and skills in data and process modeling in an accounting context. Learning these skills on a conceptual level is reinforced through the use of programmer development software. These are software tools that support systems development from the model level during systems analysis, through systems design, and to the completion of the development life cycle and the construction of the system. The first two courses of our AIS curriculum roughly follow these three phases, while the third course reiterates these phases in a complex accounting context. For further information, see the Executive Summary for the innovation at

Miscellaneous AIS (Including Shared Courseware)

ACCT 5342 Accounting Inrformation Systems
AAA IS/MAS Homepage
Study Web
Ernie. Your online business consultant.
Frank G. Duserick (MIS and AIS Courses)
Darrell Walden at U. of Richmond - Accounting Information Systems
Univeristy of Waterloo - School of Accountancy - J.E. Boritz
AC3029 Accounting Information Systems (AIS)
AAA IS/MAS Homepage
Ceil M. Pillsbury
AIS OnLine
EdWeb Home Page (Education, Recommended by Ceil Pillsbury)
||-- webprofessor Amelia Baldwin at Florida International University (Acccounting Information Systems)
Favorite Sites -- Accounting, AIS & MIS Students & Professionals
Here's Ernie
Raptor Systems Security Library
SMAP 96 Homepage
The School of Information Systems
Infobyte Homepage
Infobyte Homepage (General Ledger, Accounitng Education Site)
ISACA - Information Systems Audit and Control Association (Accounting Information Systems)
Favorite Sites -- Accounting, AIS & MIS Students & Professionals (Shared Course Materials)
Favorite Sites -- Accounting, AIS & MIS Students & Professionals (Accounting and AIS Links)
Association for Information Systems
Datatel Home Page
Datatel : Products (Microcosm Authoring Software)
Microsoft's COM (Component Object Model)
InfobyteHomepage (Accounting, General Ledger Software)
AuditNet: Internet Resources for Auditors
Ernie. Your online business consultant.
AC3029Accounting Systems
KenyonCollege - Academic Projects on the Kenyon Web
Chapters (Internet Guide for Accountants by Kogan, Sudit, and Vasarhelyi)
The AIS/ICIS Placement Listings


AMIS Faculty Home Pages
In the Classroom
Waleed Muhanna's Home Page

Online Continuing Education ( CPE ) and Training

Learning Insights (includes CFA paractice questions)

Ernst & Young educational Webcasts --- 

Associations in the Accounting Profession

"Distance learning: The world of online training for accountants," AccountingWeb, December 2007 ---

From Smart Stops on the Web, Journal of Accountancy, November 2007 --- 



This Smart Stop is part of the National Association of State Boards of Accountancy’s, which offers “tools for accountancy compliance.” CPAs can search CPE course providers, the National Registry of CPE Sponsor courses and quality assurance service courses, plus click on “Pilot Test CPE Courses” to try out courses for free. There’s also access to instructor resumes and in-house course providers. Click on the state you’re licensed in to find updated information on mandated continuing education requirements and links to your state’s board of accountancy.


Check this site for free CPE podcasts, available as streaming audio or downloadable to your computer or audio player. Click on “Course Catalog” to download available podcasts and their supplementary PDFs, including a study guide and final exam questions. When you’re ready to take the exam, enroll and purchase the credits—your exam grading and certification is available immediately. Be sure to check if your state’s board of accountancy accepts these CCH self-study courses by clicking the “CPE Accreditation” link.


Just starting your continuing education requirements? Test your skills and training needs with the site’s “Competency Self-Assessment Tool,” free for AICPA members, then search CPE courses by topic, level, job area or format, including CD-ROM and DVD. Check back often to see the month’s top sellers and new releases or to download catalogs for the “CPE Direct” program and “Staff Training Series.”


Can’t keep up with your CPE hours? Launched in 2006, this site keeps accounting professionals and firms up-to-date on CPE hours and compliance. Registered users can record CPE credits, which are then compared to the requirements from each state’s board of accountancy and regulatory agencies. The service also provides status reports by jurisdiction and reporting period, as well as access to all of your CPE records in one location.


Most accountancy associations, firms, and many colleges also offer CPE courses.

Bob Jensen's threads on online training and education are at


Directories for the Accounting Profession

Richard Torian's Managerial Accounting Information Center --- 

O'Keefe Accounting Library Searches

Services Offered by Professional Accounting Firms (including how to find them) --- 

Bob Jensen's Threads on Accounting Fraud, Forensic Accounting, Securities Fraud, and White Collar Crime --- 

Bob Jensen's Threads on Fees and Choosing Accountants, Financial Advisors, and Consultants ---

 Accounting Professional Site Links 
The CPA Team  
Accountants Directory - Database Search
Welcome to NACUBO!
Gerald Trite's great set of links --- 
AccountingWEB's Entrepreneur to Accountant Referral Network (E.A.R.N.) program, matching the accounting and financial needs of thousands of small businesses with the talent of the AccountingWEB community. 
Bob Jensen's Links
American Association of Hispanic Certified Public Accountants --- 
Jensen & Sandlin Survey of U.S. Accountancy Education Programs
E. Barry Rice, Loyola College in Maryland
ANet Home Page
ANet Australia home (International Accounting Network)
Wm. Dennis Huber's Web Page
RAW Rutgers Accounting Web Introduction
Locate a Lawyer with!

Information Systems Audit and Control Association and Foundation Web (ISACA) site --- 

Professor Durler has a nice links page at 

Public Accounting Report has published its annual ranking of America's Top 100 Accounting Firms, and it's no surprise that Andersen, last year's number five ranked firm, is no longer on the list.

  1. PricewaterhouseCoopers: $8,056.5 million
  2. Deloitte & Touche: $6,130 million
  3. Ernst & Young: $4,485 million
  4. KPMG: $3,171 million
  5. Grant Thornton: $432.5 million
  6. BDO Seidman: $353 million
  7. BKD: $210.9 million
  8. Crowe, Chizek & Co.: $204.7 million
  9. McGladrey & Pullen: $203 million
  10. Moss Adams: $163 million

"Second Six: Ready to Step Up?" ---,5487,564||A,00.html 

As contributing editor Ed Zwirn reveals in his article ''The Second Six: Ready to Step Up?'', the demise of Andersen and the advent of Sarbanes-Oxley have not been an unqualified blessing for those firms that remain. And in ''Same Straw, Smaller Back,'' Zwirn notes how new regulatory burdens that fall heavily on smaller companies (the usual Group B clients) may persuade many of them to go private.

The American Bar Association is Giving Something Away for Free
ABA --- 
     Your gateway to information on legal topics that affect your daily life.

Company & Industry Information
Company Lists ... Company Research ... Stock and Investments ... Industry Information ... More

From the Scout Report --- 

The owners of this lucrative URL address have sponsored a Web directory created by a "team of 50 research analysts [that] has sifted through the Web to find relevant sites for our handcrafted Directory." All Websites in this 30-category directory have been annotated. The annotations, however, tend to be very terse and a bit vague. First time users are encouraged to skim over the excellent site guide, which gives a step-by-step manual for using the site as well as in-depth explanations of the terminology and taxonomy.


The National Network of Accountants homepage is at 


American Accounting Association (AAA)
Accounting Coursepage Exchange (ACE) - American Accounting Association (AAA)
Teaching and Curriculum Section Home Page
Public Interest Section of the AAA
AAA IS/MAS Homepage
Globalization Strategic Alliances Roundtable (GSAR), Berlin, Germany, June 22, 2001 ---


e-Commerce and e-Business Helpers for Accountants ---
AICPA American Institute of Certified Public Accountants
AICPA Journal of Accountancy
AICPA The Vision Process
AICPA AICPA Code of Professional Conduct
AICPA NewsFlash! - 9/16/97 - AICPA Launches CPA WebTrust Electronic Commerce Seal
AICPAAICPA Implementation Initiatives on SAS No. 82
AICPARecently-Issued Auditing Standards and Interpretations
AICPAOnline Policies and Copyright Information
AICPAHome Page
CPAtechonline: Tech News (Accounting, Auditing, Tax, Computers, AIS)
PronouncementsHaving Current and Future Effective Dates
AICPA AICPA Online Audio/Video Library


European Accounting Association Home Page
EAA 96 Complete Index of papers
Index of EAA 96 by Theme Reference - ATH

IASB (formerley IASC)

IASB - Web Site

The IASB announced that international accounting IASC standards will now be available on CD-ROM at   .

You may also try  
IOSCO Home Page


IFAC - International Federation of Accountants
The Internet and Distance Learning in Accounting Education—IFAC
International standards are also available along with accounting and auditing standards in various nations are also available on the PriceWaterhouse Coopers Compario at 


FASB Home Page 

International standards are also available along with accounting and auditing standards in various nations are also available on the PriceWaterhouse Coopers Compario at 


There are no free copies of any FASB standards, because sales of those standards are main sources of revenue to the FASB. My advice is to contact Pricewaterhouse Coopers and subscribe to their PW Researcher that contains all standards for a number of nations, the IASC international standards, and all FASB standards. You can get this on the PW Researcher CD-ROM that is updated as new standards and interpretations come along. FAS 52 is one of those standards. One website for the PW Researcher is

You might also try  

The other alternative is to order FASB standards directly from the FASB at



ACBSP Association of Collegiate Business Schools and Programs
Associated Colleges of the South (ACS)
Palladian Fall 1998
Accounting Related Resources
American Association of Hispanic Certified Public Accountants --- 

The Institute of Chartered Accountants in England and Wales Links Page 

International standards are also available along with accounting and auditing standards in various nations are also available on the PriceWaterhouse Coopers Compario at 
Jensen & Sandlin Survey of U.S. Accountancy Education Programs
The Institute of Internal Auditors   (IIA)
Internal Auditing World Wide Web (IAWWW)
Associationof Certified Fraud Examiners Home Page
The Institute of Financial Accountants (United Kingdom)
Prologueto Report to the Nation on Occupational Fraud and Abuse (President Clinton)
AACSB Home Page
ACBSP (Association of Collegiate Business Schools and Programs )
Palladian Fall 1998
Association of Collegiate Business Schools and Programs (ACBSP)
Associated Colleges of the South
AICPA Home Page
American Accounting Association Homepage
Arizona Society of CPAs
Center for Educational Technology (CETA)
Certified Management Accountants (Canada)
CPA WIRE - home page for the California Society of CPAs
Global Window Main Menu (Business Schools and Culture of Japan)
Illinois CPA Society Members Home Page
Institute of Management Accountants (IMA) --- 
MACPA Online
National Society of Accountants (Association)
Oklahoma Society of CPAs
PICPA - Pennsylvania Institute of CPAs
Professional Associations Site Seeker
The IIA Home Page
The Ohio Society of CPAs
Upcoming Workshops (ACS Associated Colleges of the South)
Utah Association of CPAs
CPA Online: Your source for Accounting Information on the Internet

Business Firm and Other Directories


Career Bookmarks and Threads

2019 Trends in in the supply of accounting graduates and the demand for public accounting recruits ---
Keep in mind that there are many accountants who are not "public accountants" (think of accounting careers in government, business firms, schools, etc.). Having said this, many (certainly not most) of those "non-public accountants" commenced their post-graduate careers for a time as public accountants before going non-public. And not all public accountants are Certified Public Accountants (or chartered accountants) such as all those accountants and accounting firms who offer tax return preparation services but are not licensed to conduct audits ---

Key insights

Accounting Enrollments Total projected accounting enrollments are down 4% from the highs of 2016, but are still among the highest on record. Master’s enrollments are down 6% from 2016. Racial/ethnic diversity has increased in the 2017-18 academic year. Universities have reported increases in Hispanic or Latino enrollees of 3 and 8 percentage points at the bachelor’s and master’s levels, respectively. Seventy-two percent of bachelor’s of accounting programs and 65% of master’s of accounting programs expect to have the same or higher enrollment in 2019.

Accounting Graduates Projected accounting graduates trended downward in the 2017-18 academic year, with decreases of 4% at both the bachelor’s and master’s levels and overall. In 2018, female accounting graduates outnumbered male graduates at the master’s level. Racial/ethnic diversity has increased in accounting graduates, with a 7 percentage point increase in Hispanic or Latino accounting graduates.

Hiring In 2018, new hires assigned to audit-related services increased by 4 percentage points, while new graduates assigned to taxation declined by 4 percentage points. Hiring of new accounting graduates slowed 11%. Across the last two Trends reports, we have experienced an approximate 30% decline in hiring of new accounting graduates. Non-accounting hires as a percentage of all new graduate hires are up 11 percentage points to 31%. See footnote for more information.

Hiring Expectations Of firms that hired one or more accounting graduates in 2018, 58% expect to hire the same number or more in 2019. Ninety percent of all U.S. CPA fi rms expect to have the same number or more CPAs on staff in 2019.

CPA Examination The number of CPA Exam takers increased in 2015 and 2016 in preparation of the new CPA Exam that launched in April 2017. CPA Examination candidates decreased 7% between 2017 and 2018. The number of CPA Exam candidates who passed their 4th section of the exam decreased 6% between 2017 and 2018.

Some Jobs Nobody Knew About Until 2020 --- Prime 2020-04-08&utm_term=BI Prime Select

Jensen Comment
Actually some of the jobs listed were hot before 2020 and may be temporarily not so hot because of the pandemic.

There are two things to consider when choosing a career --- opportunity versus security. For example, the hot jobs in large accounting firms before 2020 were in consulting whereas the most secure jobs were, and still are, in auditing and tax --- those careers we really call "accounting careers." Everybody suspects consulting careers in accounting firms will bounce back (maybe slowly) after the 2020 pandemic, but auditors and tax accountants have the most secure jobs during 2020. Business firms still are required to have audits and file tax returns during lockdown. They are not required to hire consultants in these hard times.

Another example is academia. A small proportion of accountants (less than 300 per year) leave the real world and enter accounting doctoral programs. Many do so knowing that they will be making a lot less 20 years from now as college professors than if they commenced their own accounting firms that are strategically placed in terms of services and geography. There's a whole lot of opportunity that comes with starting up an accounting firm, but there's no tenure security like the security enjoyed by accounting professors.

For example, I started out my career with the largest CPA firm, then called Ernst & Ernst, in Denver. With the training and experience I was getting from E&E I seriously considered opening my own CPA firm in Aspen back when Aspen was a decadent mountain town filled with decrepit wooden houses --- houses renting out beds for $1.75 per night during ski week ends.    I don't know if my startup firm would've been a success in Aspen, but I have daydreams that I might well have retired as a multi-millionaire.

In reality I chose the secure path and retired comfortably after 40 years as an accounting professor. I've no regrets, because I've never really had to guts to gamble big time.

While on the faculty of Trinity University one of my colleagues did not get tenure. He then started his own tax and audit firm in San Antonio and eventually retired (I'm guessing here) twenty times wealthier than me. Sigh!


Chamber of Commerce Guide to Scholarships From Various Sources ---

Racial Profiles of Accountants in the USA (does not include accountants of color other than African Americans)

There are 1,762,000 accountants and auditors in the United States for the year 2008. They represent 1.2% of the total 145,362,000 employed Americans for the same year. 61.1% of American accountants and auditors are female while 10.2% are Asian. This data is based on the The 2010 Statistical Yearbook of the United States Census Bureau ---
For updates see
Note that not all "accountants" even go to college. especially those trained to do some accounting functions (think bookkeeping) on the job. To sit for the CPA examination virtually all candidates now must have five years (150 semester credits) including required courses in accounting, auditing, ethics, and business.

Overall participation of African-Americans in the accounting profession continues to be low. According to the U.S. Bureau of Labor Statistics (BLS), African-Americans represent 12.1% of the employed workforce but only 8.2% of the accountant and auditor workforce ---

Out of 650,000 CPAs in the U.S., an estimated 5,000 are black, according to the National Association of Black Accountants (NABA). The number of black accountants has changed little in the past two decades while the number of their Asian and Hispanic colleagues has grown to more than 12% and 7% of the field ---

The first African American CPA was John Wesley Cromwell, Jr., licensed in 1921. John went on to lead a very successful career after he became the controller of Howard University in 1930

Jensen Comment
When I was Chair of the Accounting Department at Florida State University (1978-1982) there were two major university accounting programs in Tallahassee --- FSU and Florida A&M. The FSU program was heavily geared toward preparing students for the CPA examination, and we did have African American Accounting majors in the FSU program who prepared for and did become CPAs. The Florida A&M (one of the better-known historically black universities)  program at the time was not geared to preparing accounting majors to take the CPA examination. Accounting majors at Florida A&M usually had corporate apprenticeships to become corporate accountants rather than CPAs. These accounting student apprenticeships included major corporations like IBM and Exxon that gave a significant amount of money to historically black universities in general.

I mention this because I think most historically black universities (certainly not all like Howard University) at the time modeled themselves after Florida A&M. I think this reflects African American career tracks in accounting that bypassed the CPA examination entirely. African Americans aspiring to be CPAs mostly chose other universities like FSU.

Footnote:  I've not followed how Florida A&M and other historically black universities changed their accounting curricula and goals since 1982

The PhD Project ---

Since 1994, The PhD Project has more than tripled the number of minority business school professors...from 294 to over 960. These individuals are inspiring and encouraging a new generation of business professionals. Click here to learn more about our fifteen years of achievements, real insights on the journey to a PhD degree and the professors who are making a big impact.

Are you ready to be the next role model? Currently, The PhD Project has 400 minority doctoral student members pursuing their dream. Like you, they were professionals or recent grads satisfying their quest for a high level of achievement and answering the call to mentor. With an expansive network of support, The PhD Project is now helping them prepare for success in academia.

Whether you become involved as a doctoral student, professor, participating university, or supporting organization...just become involved. Learn more by visiting the links on the left.

Participation in The PhD Project is available to anyone of African-American, Hispanic American and Native American descent who is interested in business doctoral studies.

Jensen Comment
The PhD Project commenced in the KPMG Foundation under the guidance of Executive Partner Bernie Milano who increasingly devoted more time, money, and sweat to raise money from other accounting firms and from corporations. It has since expanded beyond accounting doctoral programs into other business disciplines.

Above and beyond helping minority students get into selected doctoral programs, Bernie has been dogged about trying every which way to see them to the graduation day endings when a wide array colleges in literally every part of the world are eager to hire them. These students have many more hurdles to cross than most other doctoral students, and Bernie's Dream is to help them across the biggest hurdles without making it any easier for them then all other doctoral students.

Most importantly, the salting of these graduates around the world as role models is increasingly vital to inspiring undergraduate and even K12 minority students to aspire to become practicing professionals and/or doctoral students themselves. These role models are living proof that Berne's Dream can become their dream.

Thank you Bernie, KPMG, and the many other accounting firms and corporations have made Bernie's Dream come true.

How doctoral programs can help minority candidates
Video on the PhD Completion Program ---

Also read about the efforts of the Bill and Melinda Gates Foundation --- Click Here

Added Jensen Rant
Often potential minority candidates for accounting doctoral programs are CPAs. They are strong accounting candidates that are attracted to accounting and turned off by the heavy mathematics, statistics, and econometrics years of study in accountancy doctoral programs that have almost no accountancy. It would help greatly if some of our leading doctoral programs would open up paths of study other than "accountics."

Alternative study and research paths could include paths of case method and field research. Those graduates may never publish in The Accounting Review (which now publishes zero case and field research studies according to the latest report of the TAR Editor), but there are research journals that will publish case and field research studies.

My rants ad nauseum on the narrow mindedness of present accountics doctoral programs are shown at ---

In his first President's Message, Gary Previts mentions the Plumlee report on the dire shortage of accountancy doctoral students and provides a link to the AAA's new site providing resources for research and experimentation on "Future Accounting Faculty and Programs Projects" ---
Note especially the Accounting PhD Program Info link with a picture) and the PhD Project link (at the bottom):

Welcome to the preliminary posting of a new resource for the community participating in and supporting accounting programs, students, faculty, and by that connection practitioners of accounting. We plan to build this collection of resources for the broad community committed to a vital future for accounting education. This page is an initial step to creating a place where we can come together to gather resources and share data and ideas.
Making A Difference: Careers in Academia
Powerpoint slides created by Nancy BaGranof and Stephanie Bryant for the 2007 Beta Alpha Psi Annual Meeting. Permission granted for use and adaptation with attribution.
Accounting PhD Program Info

New Research Projects by the AAA on the Trends and Characteristics of Accounting Faculty, Students, Curriculum, and Programs

Part I: Future of Accounting Faculty Project (Report December, 2007)
Part II: Future of Accounting Programs Project

Part I will describe today's accounting academic workforce, via demographics, work patterns, productivity, and career progression of accounting faculty, as well as of faculty in selected peer disciplines using data from the national survey of postsecondary faculty (NSOPF) to establish trends, and a set of measures will be combined to benchmark the overall status of accounting against (approximately) 150 fields. This project will provide context and data to identify factors affecting the pipeline and workplace.

Part II will focus on expanding understanding of the characteristics of accounting faculty, students, and accounting programs, and implications of their evolving environment. The need for the Part I project illustrates how essential it is for the discipline and profession of accounting that we establish a more standard and comprehensive process for collecting, analyzing, and reporting data about accounting students, doctoral students, faculty, curriculum, and programs.

More Resources on the Changing Environment for Faculty:

The Reshaping of America's Academic Workforce
David W. Leslie, TIAA-CREF Institute Fellow
The College of William and Mary
TIAA Institute Research Dialogue Series, 2007

Jim Hasselback's* 2007 Analysis of Accounting Faculty Birthdates
*Copyrighted – requests for use to J. R. Hasselback

  • Among U.S. Accounting Academics -- 53.4% are 55 or older

From the Integrated Postsecondary Education System (IPEDS)

  • 34.8% of all full-time faculty in the U.S. are non-tenure-track -- nearly 2 in 5 of all full-time appointments
  • Between 1993 and 2003 the proportion of all new full-time hires into "off-track" appointments increased each year from 50% to nearly 3 in 5 (58.6%)
  • Reported in J. Schuster & M. Finkelstein (Fall, 2006). "On the Brink: Assessing the Status of the American Faculty," Thought & Action 51-62.

Supply and Demand for Accounting PhDs

American Accounting Association PhD Supply/Demand Resource Page
A collection of resources, links, and reports related to the pipeline of future Accounting faculty. Highlights include:

  • Report of the AAA/APLG Committee to Assess the Supply and Demand of Accounting PhDs
  • Link to the Doctoral Education Resource Center of AACSB International (Association to Advance Collegiate Schools of Business)
  • AICPA's Journal of Accountancy's article "Teaching for the Love of It"

Deloitte Foundation Accounting Doctoral Student Survey

Survey Results (Summer, 2007)
Data collected by survey of attendees of the 2007 AAA/Deloitte J. Michael Cook Doctoral Consortium

The PhD Project and Accounting Doctoral Students Association

The PhD Project is an information clearinghouse created to increase the diversity of business school faculty by attracting African Americans, Hispanic Americans and Native Americans to business doctoral programs and by providing a network of peer support. In just 12 short years, the PhD Project has been the catalyst for a dramatic increase in the number of minority business school faculty—from 294 to 842, with approximately 380 more candidates currently immersed in doctoral studies.

The PhD Project Accounting Doctoral Students Association is a voluntary association offering moral support and encouragement to African-American, Hispanic-American, and Native American Accounting Doctoral Students as their pursue their degrees and take their places in the teaching and research profession, and serve as mentors to new doctoral students.

PhD Project Surveys of Students, Professors, and Deans
Results of a survey among students to understand the impact of minority professors on minority and non-minority students.

Accounting Firms Supporting the AAA and Accounting Programs, Faculty, and Students

Related Organizations Sharing Interest in Accounting Faculty and Programs


Gender Profiles of Accountants in the USA

There are 1,762,000 accountants and auditors in the United States for the year 2008. They represent 1.2% of the total 145,362,000 employed Americans for the same year. 61.1% of American accountants and auditors are female while 10.2% are Asian. This data is based on the The 2010 Statistical Yearbook of the United States Census Bureau ---
For updates see
Note that not all "accountants" even go to college. especially those trained to do some accounting functions (think bookkeeping) on the job. To sit for the CPA examination virtually all candidates now must have five years (150 semester credits) including required courses in accounting, auditing, ethics, and business.


Eight Special Women of Accounting ---

Among the AICPA-donated volumes at Ole Miss are two binders containing photographs of individuals appearing in the JofA or at accounting conventions from 1887 to 1979. Of the 446 individuals featured, eight are women—Christine Ross, Ellen Libby Eastman, Miriam Donnelly, Mary E. Murphy, Helen Lord, Helen H. Fortune, Mary E. Lewis and Beth M. Thompson. In a time when the profession was the all-but-exclusive domain of men, they stood out not only because of their gender but in many cases because of their accomplishments and contributions to accounting. Consider that in 1933, slightly more than 100 CPA certificates had been issued to women. By 1946, World War II had changed traditional notions of gender in the workplace, and female CPAs had more than tripled to 360—still a small contingent but, as information gleaned from the AICPA Library indicates, one capable of exerting a strong and beneficial influence on the profession.

Christine Ross

Born about 1873 in Nova Scotia, Ross took New York by storm in the late 1890s. New York state enacted licensure legislation in 1896 and gave its inaugural CPA exam in December 1896. Ross sat for the exam in June 1898, scoring second or third in her group. Six to 18 months elapsed while her certificate was delayed by state regents because of her gender. But she had completed the requirements and became the first woman CPA in the United States, receiving certificate no. 143 on Dec. 21, 1899.

Ross began practicing accounting around 1889. For several years, she worked for Manning’s Yacht Agency in New York. Her clients included women’s organizations, wealthy women and those in fashion and business.

Helen Lord
Lord received her CPA certificate from New York in 1934 and in 1935 joined the American Society of Certified Public Accountants, which merged with the American Institute of Accountants (later AICPA) the following year. In 1937, she was a partner with her father in the New York firm of Lord & Lord and a member of the AIA. She served in the late 1940s as business manager of The Woman CPA, published by the American Woman’s Society of Certified Public Accountants–American Society of Women Accountants. Lord reported the journal then had a circulation of more than 2,200.

Helen Hifner Fortune
Fortune, one of the first women CPAs in Kentucky, received certificate no. 174 in 1935 and was admitted to the AIA the following year. She became a member of an AIA committee in 1942 and by 1947 was a partner in the Lexington, Ky., firm of Hifner and Fortune.

Ellen Libby Eastman
Eastman began her career as a clerk in a Maine lumber company, eventually becoming chief accountant. She studied for the CPA exam at night and became the first woman CPA in Maine, receiving certificate no. 37 dated 1918. She was also the first woman to establish a public accounting practice in New England. Arriving in New York in 1920, Eastman focused on tax work and audited the accounts of the American Women’s Hospital in Greece. In 1925, she was a member of the ASCPA. In 1940, Eastman began working with the law firm of Hawkins, Delafield & Longfellow in New York.

She was outspoken and eloquent regarding a woman’s ability to succeed in accounting. In a 1929 article in The Certified Public Accountant, Eastman recounted her adventures:

One must be willing and able to endure long and irregular hours, unusual working arrangements and difficult travel conditions. I have worked eighteen out of the twenty-four hours of a day with time for but one meal; I have worked in the office of a bank president with its mahogany furnishings and oriental rugs and I have worked in the corner of a grain mill with a grain bin for a desk and a salt box for a chair; I have been accorded the courtesy of the private car and chauffeur of my client and have also walked two miles over the top of a mountain to a lumber camp inaccessible even with a Ford car. I have ridden from ten to fifteen miles into the country after leaving the railroad, the only conveyance being a horse and traverse runners—and this in the severity of a New England winter. I have done it with a thermometer registering fourteen degrees below zero and a twenty-five mile per hour gale blowing. I have chilled my feet and frozen my nose for the sake of success in a job which I love. I have been snowbound in railroad stations and have been stranded five miles from a garage with both rear tires of my car flat. I have ridden into and out of open culvert ditches with the workmen shouting warnings to me. And always one must keep the appointment; “how” is not the client’s concern.

Mary E. Murphy
A long-lived pioneer, Murphy (1905–1985) lectured, researched and taught in the United States and abroad, retiring in 1973. The Iowa native earned her bachelor of commerce degree with a major in accounting from the University of Iowa in 1927, then obtained a master’s in accountancy in 1928 from Columbia University Business School. In 1938, she received a doctorate in accountancy—only the second woman in the United States to do so—from the London School of Economics.

In 1928, Murphy began working in the New York office of Lybrand, Ross Bros. & Montgomery. Two years later, she took the CPA exam in Iowa and received certificate no. 67, to become the first woman CPA in Iowa. She joined the AIA in 1937.

Following her public accounting stint, she served for three years as the chair of the Department of Commerce at St. Mary’s College in Notre Dame, Ind. Murphy also was an assistant professor of economics at Hunter College of the City University of New York until 1951. In 1952, she received the first Fulbright professorship of accounting, with assignments in Australia and New Zealand. In 1957, she was appointed as the first director of research of the Institute of Chartered Accountants in Australia. Murphy retired in 1973 from the accounting faculty at California State University.

She published or collaborated on more than 20 books and 100 journal articles and many book reviews and scholarly papers. From 1946 to 1965 she was the most frequently published author in The Accounting Review. Murphy investigated the role of accounting in the economy, made the case for accounting education improvements and paved the way for other aspiring women accountants to prosper. More than half her publications explored international accounting, often advocating standardization. She also emphasized accounting history and biographies.

Mary E. Lewis
Lewis received California CPA certificate no. 1404 in 1939. She was admitted to the AIA that year and by 1947 had her own firm in Los Angeles.

Beth M. Thompson
Thompson worked as the office manager in the Kentucky Automobile Agency she and her husband, Charles R. Thompson, owned. After closing the car business, they moved to Florida, where she worked for an accounting firm. She passed the CPA exam in 1951 with the encouragement of her husband and opened her own accounting business in Miami. In 1955, Thompson was one of only 900 women CPAs and the only female president of a state association chapter—the Dade County chapter of the Florida Institute of CPAs.

Miriam Donnelly
From 1949 to 1955, Donnelly was head librarian of the AIA library. (In 1957, the AIA was renamed the AICPA.) She began her career with the library as assistant librarian and cataloger in 1927, after working for two governmental libraries and the New York Public Library.


History of women accountants in the 1880. US Federal Census ---

Christine Ross (The First Woman CPA) --- Click Here

Mary Jo McCann (First Woman CPA in Kansas) ---

Bertha Aldrich (First Woman CPA in California) ---

Accounting Reform (search for women) ---

American Society of Women Accountants ---

Accounting and Financial Women's Alliance ---

Accounting History Libraries at the University of Mississippi (Ole Miss) ---
There are many items pertaining to accounting women in history, especially in the Accounting Historians Journal

Ruth Andersen, First Woman on the Board of a Big Four Accounting Firm ---

Cynthia Cooper (Internal auditor who blew the whistle at WorldCom) ---

Lynn Brewer was never enough of a player to even mention in my threads on the Enron scandal
The foul mouthed Sherron Watkins was the significant whistleblowers at Enron

Grace Andrews (early mathematician and accountant in Barnard College) ---

Patricia Courtney (IRS agent and professional baseball star) ---

Patrecia Barringer (Tax accountant, auditor, and professional baseball star) ---

Helen Nordquist (Telephone operator, accountant, and professional baseball star) ---

Rita Lee (Accounting Student Tennis Star) ---

Diane Cummins (Canadian Accountant Track Star) ---

Sue Hearnshaw (British Chartered Accountant and Long Jump Star) ---

Betty Wagner Spandikow (Accountant Who Became an Advocate of Breast Feeding) ---

Jennifer Archer (Oil and Gas Accountant Turned Fiction Writer) ---


'Death by a Thousand Cuts': Why Are Women Leaving Big Law? ---

Underemployed:  41% of Recent Grads Work in Jobs Not Requiring a Degree ---

Jensen Comment
This seems high when you think of all those who are in jobs requiring a degree (think nursing) but are not employed full time plus all those who are not employed at all while focusing on raising a young family.
This also seems high given the low unemployment rates in the present economy.
One issue is that some lower-level jobs (think working for Amazon) pay better and have more benefits (medical insurance, paying graduate school tuition, and unemployment insurance) relative to working in so-called "higher-level" jobs.
In a given a given discipline there may be jobs available that are not attractive because of location (think having to move to an expensive city) or having to live apart from a spouse. In accounting some of my graduates in San Antonio could not find local jobs in a Big 4 accounting firm when all sorts of openings were available in the Big 4 San Francisco offices). Try living on a starting accountancy wage in San Francisco.

The advantage of accounting was that even in a graduate could not get into a local Big 4 office in San Antonio there were usually other accounting jobs available in San Antonio if you scratched around hard enough. Those accounting jobs, however, usually did not provide the benefits of expensive formal training and student loan forgiveness provided by the Big 4.

How to Mislead With Statistics

Warning Signs about the Future Supply of Accounting Graduates ---

Jensen Comment
The article raises concerns that accountancy may be losing ground to some other college majors. However, this is a bit misleading since virtually all college majors are in trouble because of aggregate college enrollment declines.

The Great Enrollment Crash:  Students aren’t showing up. And it’s only going to get worse ---

. . .

The handwriting (for enrollment declines) was probably on the wall, as the national, first-year discount rate had already crested the 50-percent mark; according to the National Association of College and University Business Officers (NACUBO), it was 39 percent as recently as 2008. This steep rise is significantly fueled by colleges that have adopted the airline pricing model: If the plane is going to fly anyway (and if there are still spots open), no harm in getting even pennies on an otherwise unsold ticket. For colleges discounting at or above the national figure, this is unlikely to be a sustainable strategy. However, in the meantime, they are no doubt pulling students away from colleges that expect full-pay or better-pay students to foot the true bill. In short, price sensitivity is a structural reality when supply (number of college beds and desks) is greater than demand.

. . .

Disruption is here to stay. Campus leaders cannot change the wind direction, but they can trim the institutional sails. For too long, the admissions dean or enrollment manager had the lone hand on the tuition-revenue tiller. Now, it’s all hands (campus leadership, faculty, staff, trustees, etc.) on deck, pulling the tactical lines in a coordinated, strategic fashion. Given the perilous voyage ahead, what will your institution’s mix of majors, money, and mission be?

Bill Conley is vice president for enrollment management at Bucknell University.

To the extent that accountancy may be may be losing more than it's share of majors in 2019 the cause may be partly do to the 2019 stage in the economic cycle. The USA is still at the crest of a long boom wave with very low unemployment. When the job market is hot in competing disciplines accountancy typically loses some majors to hot job markets in information technology, science, and finance. However, in recessions those job markets cool down much more dramatically than tried and true accountancy that sees less variation in the economic cycle. In bad times business firms still need audits and must file their tax returns.

Women and Girls in Science

Wogrammer ---

Emerging Female Scientists ---

Lesson Plan: Chien-Shiung Wu, Chinese Nuclear Physicist ---

Women in Science, Technology, Engineering, and Mathematics: Quick Take ---

Women in Science ---

Bob Jensen's threads on women in the professions ---

How Are Public Accounting Salaries Stacking Up for 2020?
One problem in reporting salaries is that so many public accountants own their own practices or are in small partnerships. Many have no salaries and instead rely on profits. I have a CPA friend who did not finish his Ph.D. and was denied tenure. However, he was a great CPA who started up his own firm, specialized in accounting and tax services for wealthy physicians and Texas ranchers, and made a fortune. However, before he retired he had no "salary" to report in surveys like the one above. Similar problems arise when reporting the "salaries" of physicians and lawyers who own their own practices or share partnership profits.

Jensen Comment
Accounting major numbers often decrease in times of economic prosperity with the best example arising in the roaring 1990s when so many college students became finance majors (intending  make millions on Wall Street before the Enron bubble burst in 1999) and computer science majors (at a time when new technology firms were sometimes offering million-dollar signing bonuses in stock options that later turned worthless when the technology bubble burst). In recessions many students find their way to accountancy because of the relative stability of accountancy job offerings.

Becoming a CPA became somewhat more difficult and expensive as states across the USA commenced to require 150 credits to sit for the CPA examination with most aspiring CPAs today now getting masters degrees because of the 150-credit requirement. Of course accounting graduates not aspiring to be CPAs can still graduate in four years and enter the job market as non-CPAs. 

The problem with non-public accounting entry level jobs (think FBI agents and corporate accountants)  is that experience is often required, whereas large CPA firms have a tradition of hiring top graduates who do not yet have experience beyond very brief internships while they are still in college. There's a huge attraction for undergraduates in accounting to go on to get masters degrees and start out in public accounting firms. Their intent is to gain experience needed in public accounting to land those non-public accounting job offers. Many public accountants do in fact end up jumping ship to work for audit and tax clients of CPA firms. CPA firms even consider them as their "alumni."

One exception is the IRS that, unlike the FBI and other government agencies, will hire inexperienced accounting majors and train them for their jobs. The IRS, however, in recent years has been hobbled by declining budgets.

Because of the short supply (slightly over 200 per year)  of new accounting Ph.D.s hoping to get tenure-track jobs, new Ph.D.s in accountancy are often the highest-paid new assistant professors on campus. However, one of the factors holding down the supply of new accounting Ph.D.s is the requirement by accounting doctoral programs that applicants have professional accounting experience. Whereas STEM majors in science can enter doctoral programs immediately after earning BS degrees, this is not usually the case for new accounting doctoral students ---


I'm looking forward to meeting you face-to-face. I taught accounting and did accounting research for 40 years at four different universities (Michigan State, University of Maine, Florida State University, and Trinity University in Texas) which means that I'm both old and somewhat experienced at guiding students into and out of careers.

Before we meet I would like to have you browse my threads on careers at 
There's too much here to read in detail, but do focus in on available discussions of advantages and disadvantages of careers.
I apologize for some broken links in this archive. It has evolved over the past 20 years, and one thing is certain about Web archives is that links are not always permanent.
I also apologize that the above archive is more like a scrapbook built on cut-and-paste rather than a better designed book. I have many such "scrap books" linked at my homepage --- 

What I think is one of the most important considerations is to choose a career that leads to varied opportunity tracks. Then if you end up where you're unhappy there are other choices. For example, physical therapy is often a poor career track because there are so few opportunities for finding other tracks from that specialty. My ophthalmologist makes a lot of money replacing cataracts day in and day out, but he's so bored that he's getting an online MBA degree and thinking about another much lower paying career.

Graduates these days face many uncertainties that were not a factor for my generation. Machines (e.g., robots) of the future will displace tasks and entire jobs in ways that we can barely imagine. For example, it's obvious that automation is already replacing warehouse workers. Not so obvious is that technology (such as chatbots) will replace teachers, especially college-level teachers and trainers.

Accounting is still a good major for a variety of reasons, including the fact that there's still high demand for accountancy graduates relative to supply. More importantly there are highly varied opportunity tracks available five or ten years down the road after graduation. The most typical path for top graduates (say the top third of a graduating accounting class) is to go to work for a large public accounting firm for 5-10 years and then take advantage of job offers that usually come from clients of that firm. The most typical opportunities for graduates in that public accounting firm are auditing tracks, tax tracks, or accounting information systems tracks (computers and networking in accounting systems). Did you know that the FBI is always seeking accountants due to the explosion of white collar crime? However, the FBI is usually looking for accountants with some professional experience.

Since top executives in nearly every company need to understand accounting, accounting is often a fast track to the executive suite. Some accountants prefer to work on their own as sole-practitioners of partners of very small and often rural firms.

At this point there's a lure of technology such as graduating in information technology. I think it's better to minor in information technology or computer science than to major in such a narrow specialty. The problem is that jobs in IT or computer programming are so specialized that there's not a great opportunity for opportunities in the executive suite or in higher level professional services.

Another advantage of accounting is that if you decide after getting a few years experience as an accountant that you want to become an accounting professor, you will discover that choosing accounting as a specialty is probably the best choice a professor can make. There's such a shortage of accounting professors that they are usually the highest paid professors on campus. Secondly, they can choose to teach and do research at most any college since virtually every college is looking to hire accounting professors. Also note that getting a Ph.D. in accounting is free in nearly every university offering accounting Ph.D. degrees. Tuition is not only free, you will get an allowance for room and board. But it's hard to get into an accounting Ph.D. program unless you have professional experience as an accountant.

There are always drawbacks to any career track. For example, accounting graduates often earn lower starting salaries than some other graduates like chemical engineers. However, accounting firms provide important benefits such as expensive training, experience, and varied client exposure that, in turn, lead to great opportunities. Accounting is a tougher major than most other business majors, requires more specialized courses, and even requires a fifth year not required for most other business majors. Masters in accounting programs sometimes even take slightly more than a year such as three semesters. 

When you major in engineering you're often trapped into engineering work. As an accountant you typically have more opportunities beyond accounting work such as becoming a finance officer or even a CEO.

If you elect to major in accounting I recommend doing so at a flagship university in a state. For example, majoring in accounting at the University of Maine or the University of New Hampshire is preferable to majoring in accounting at the University of Maine in Farmington or Plymouth State University. When you visit a campus before making a decision about where to go, ask what proportion of the graduating accounting class last year got offers from the Big Four accounting firms. The Big Four recruit heaviest in the best accounting education programs in any state in the USA.

There is such a shortage of accounting professors that the smaller universities in a state usually cannot afford very good accounting faculty. 

The top accounting programs in the USA are listed in the first table you encounter at 
This is a listing of the accounting programs that also have accounting Ph.D. programs. The numbers in that table are the numbers of accounting Ph.D. degrees awarded.
Other accounting programs are listed in this directory. Note the number of accounting faculty on any campus you're considering. If there are fewer than ten accounting faculty the larger accounting firms are probably not recruiting for graduates on that campus.

Feel free to email your questions to me at any time.

Bob Jensen

Best Accounting Major Jobs And Careers ---

Across nearly three decades there have been over twice as many philosophy Ph.D. graduates as there are job openings for philosophers in academia --- 

Many humanities Ph.D.s, including some in philosophy, have chose to teach management and marketing in business schools after taking the AACSB's Bridge Program ----  

2019 Accounting Internship Programs, Ranked ---

The best-paid and most promising internship in every field, according to more than 13,000 interns who know ---

Jensen Comment
Accountancy internships are usually less than two months and do not particularly pay well. The good news is that there are a lot of internships available, and accounting interns usually return to complete their masters degrees with job offers in hand.

How to Mislead With Statistics
The 25 best high-paying jobs in America for 2018 ---
Jensen Comment
By now you may be weary of my repeated criticisms of job rankings based on compensation. But there are a few new twists in my criticisms below.
I would be less critical if these were starting salaries. But one does not become a "Manager" immediately after graduation. Becoming a manger nearly always requires years of experience. You must accordingly throw in years of experience into the other job categories in this study you run into all sorts of problems. One is the problem of profit sharing. Usually partners or shareholders in a LLC corporation have profit sharing that makes compensation comparisons with salaries very misleading. For example, a partner in a law firm is compensated much differently than an experienced lawyer who has not yet been admitted to the partnership. And partner compensation varies a great deal based upon specialty and rewards for bringing in and maintaining clients. And there are huge issues regarding deferred compensation of various types. Doctors and lawyers for example may take lower salaries than others while letting the values of their shares in the partnership increase annually by larger amounts.

My point here is that professionals commonly have equity interests in their firms such that there are choices regarding how fast equity values increase versus how fast they deplete the value with current "salaries."

In the above rankings physicians are the big winners but it's not clear how some expenses are factored into the comparisons. Some physicians (especially surgeons and anesthesiologists) must pay their own enormous malpractice insurance premiums whereas others have those premiums paid by others (such as hospitals or employers). And those premiums vary a great deal in different parts of the nation such as in Mississippi having very high premiums and in Texas having very low premiums due to a constitutional amendment capping punitive damages.

Some job categories have much more statistical variance and kurtosis than other job categories. For example, the variance in compensation for financial advisors is enormous. Much of it depends upon the wealth of clients and established reputations of employers.

My point here is that a college student who chooses to track into a financial advising career faces enormous income uncertainty relative to a student who tracks into most any physician specialty.

This idea of variance is extremely important in terms of upper limits of success. Sure a nurse anesthetist may have a median salary of $160,270, but I don't know of any nurse anesthetist who make over $2 million per year like some lawyers.

The outcome for political scientists surprised me in the above study since political scientists in academe (where most of them are employed) are not usually paid notably more than other social scientists, physical scientists, computer scientists, and business professors. There is also an enormous variation in academic salaries between professors in prestigious universities versus those thousands of colleges further down the line that struggle to meet payroll expenses.

I could carry on with my other canned complaints about compensation rankings in general, but I think you catch my drift. I think that rankings on the basis of median compensation without added disclosures of sampling populations, variances, and kurtosis are highly misleading for young people choosing careers.

Bob Jensen's career helpers are at

Four great reasons to switch your career and become an accountant ---

Jensen Comment
The "Pay is Great" Reason 2 is misleading. Except where accountants own their own firms they are not likely to receive high-end compensation as spectacular as many other professionals like physicians, architects, etc. The incomes of lawyers are difficult to compare, because there is such variance in lawyer earnings.

And starting salaries of accounting graduates are generally lower than those of actuaries, engineers, computer scientists, and pharmacists. Students are drawn to accounting by the availability of entry-level jobs not requiring prior experience. More importantly they are drawn into those jobs because of the valuable training and experience received and the ability to then branch off into so many, many specialties in both the private and public sectors. Years ago I read where, due to an increase in white-collar crime, the FBI hired more experienced accountants than experienced lawyers. That may have changed today due to the FBI's needs for experienced technology experts.

Accounting is also one of the best tracks to the executive suites. CEOs and CFOs often rose up from accounting degrees. In many of these instances, however, accountants took on other specialties, especially finance and marketing, along the way up.

Accounting, like law and medicine, is attractive due to both rural and urban opportunities. Graduates in computer science and engineering may find slim pickings for careers in small rural communities. However, those communities still need teachers, nurses, physicians, lawyers, tax accountants, and small business accountants.

And because of supply versus demand new accounting Ph.Ds are often the highest-paid $125,000+ new faculty on college campuses --- 

How to become a CPA in Texas

The College Board: Big Future: College Search (helpers for choosing a college) ---

Helpers in Choosing a College from the Chronicle of Higher Education ---
Note the "Find Colleges" button

The 50+ Best Websites for Job Searches ---

From the Chronicle of Higher Education
Search for Job Openings in Higher Education ---

Resources for Career Counselors ---

Higher Education Recruitment Consortium ---

Chegg Center Career Advice ---

Be an Actuary ---

Journal of Hotel & Business Management ---

American Sociological Association: Facts on Jobs and Careers ---

STEM Career ---

The Bloomberg Job Skills Report 2016: What Recruiters Want ---

Reddit Career and Job Application Helpers ---

Current Job Openings in Accounting

  • accounting/finance job openings across the 50 States, updated daily  

  • accounting job information salary per State and region

Becoming an FBI Agent --- Part 1

Momas, Don't Let Your Babies Grow Up to Be Appraisers ---

Momas, Don't Let Your Babies Grow Up to Be Cowboys (Skip the Add) ---

Seven TED talks for accountants ---

Only one in five people take up this incredibly generous pension to retire at 40 (from the USA military) ---

Life in the military isn’t easy, but if you serve long enough the financial rewards, at least, are great. The US military offers very generous pension benefits—after 20 years of service, members can retire with 50% of their final salary for the rest of their lives.

Since that allows most to retire around age 40, the payouts may last for a very long time (and they are also adjusted for inflation). In 2015, the US military paid out $57 billion in pension benefits (pdf) to more than 2 million veterans, or nearly 10% of its annual budget.

Continued in article

Jensen Comment
The question should be how much salaries would have to be raised to offset the attraction of benefits from serving in the USA military. Great benefits from serving in the military are training (think mechanics, electronics, health care, and pilot training), medical benefits, college financing  (mostly by those who only serve a few years), and pension benefits (used by those who serve 20-30 years) that pay even when you take on a private sector job at around age 40-50. Odds of battle injury or death are miniscule, but other parts of military life suck such as low pay, absence from family, stress, and constant relocation of assignments. My cousin's grandson got great training for the private sector as a senior helicopter mechanic.

For many, however, a military career is a great entry-level career. Many that want this career badly are rejected for the all-volunteer service.

Why Are African American Students Still Not Majoring in Accounting? ---- 

From the CFO Journal's Morning Ledger on March 7, 2017

Companies grapple with an accountant shortage as regulations change, Vipal Monga writes in today’s Business & Finance section. Businesses are increasingly scrambling to find regulatory experts or “technical accountants” who understand rules and ensure compliance amid accounting changes to the generally accepted accounting principles that govern U.S. financial reporting.

Increasingly, companies are competing for talent with major accounting and audit firms that had once served as a reliable pipeline for corporate finance back offices. Some firms are attempting to change their work culture to retain talen

The shrinking pool of available accountants is putting pressure on companies as they begin to apply new Financial Accounting Standards Board rules. The changes affect the way firms book revenue and report the value of leases held on their balance sheets.

The rules don’t take effect right away: Public companies must apply new revenue standards for fiscal years beginning after Dec. 15, and new lease rules begin in 2019. Still, corporations must assess and revise two years of past financial reports. “There is a demand for technical expertise, absolutely,” said Robert Grecco, controller at luxury fashion brand Ralph Lauren Corp. “And that demand is only going to increase.”

From the Scout Report on December 16, 2016

New Study Uncovers Alumni Attitudes Toward College Career Services
Students Who Get Better Career Guidance Remember College More Fondly

Only 17 percent of recent graduates say career centers are 'very helpful'

Gallup-Purdue Index Report 2016

Colleges Really Need to Rethink the Career Advice They Deliver

O*NET OnLine

U.S. Bureau of Labor Statistics: Resources for Jobseeker or Worker

 "Women Dominate College Majors That Lead to Lower-Paying Work," by Sarah Green Carmichael, Harvard Business Review, April 19, 2017 ---

The pay gap between men and women in the U.S. — the 80-ish cents on the dollar that the average woman earns for every dollar the average man does — has narrowed at such a slow pace that it would be unfair to glaciers to call it glacial.

When people talk about the pay gap, what this phrase typically means is that a woman is being paid less than a man for doing the same work. A well-known example is Lilly Ledbetter, who had worked in a tire factory for almost 20 years when a colleague left her an anonymous note revealing she’d been earning thousands of dollars less than men in the same position.

But these kinds of pay gaps — same role, same experience, same firm — account for only a portion of the 20% pay gap between men and women, a gap that’s much worse for women of color. Large chunks of the gap can be accounted for by differences like industry and role. And at the root of these differences, according to a new research report by Glassdoor, could be college majors.

Examining 46,934 resumes shared on Glassdoor by people who graduated between 2010 and 2017, the researchers looked at each person’s college major and their post-college jobs in the five years after graduation. They then estimated the median pay for each of those jobs (also using Glassdoor data) for employees with five years of experience or less. Their key finding: “Many college majors that lead to high-paying roles in tech and engineering are male dominated, while majors that lead to lower-paying roles in social sciences and liberal arts tend to be female dominated, placing men in higher-paying career pathways, on average.”


When I spoke with Andrew Chamberlain, Glassdoor’s chief economist, he explained that one of his hopes with this research was to give all college students more insight into which majors pay the most, so that they can make informed decisions about which major they choose. He’s also hoping that “by showing young women the facts about what they could potentially earn, more of them might choose a physics or engineering major,” and that more of them will persist in those majors even if they’re the only woman in some of their courses. 

That is a noble goal, but it’s one that I was skeptical would work. In our society, maleness and prestige often go together.

Jobs that are unconsciously coded male have more prestige and pay than jobs that are coded female. This is why a custodian or a janitor (usually a man) gets paid more than a maid or a “cleaning lady” (categorically female — have you ever heard of a “cleaning gentleman”?). And it’s one of many reasons that male factory workers who get laid off don’t rush into “pink-collar” jobs — not only do these jobs pay less, but they also are inescapably lower prestige. Corporate America is not immune to these trends: HR, once considered the most glamorous department to work in, has since become highly feminized, and must now fight for respect at the C-suite table.

A series of studies have shown just how tightly gender, prestige, and pay are tangled. Researchers have found that the pay gap is not as simple as women being pushed into lower-paying jobs. In effect, it is the other way around: Certain jobs pay less because women take them. Wages in biology and design were higher when the fields were predominantly male; as more women became biologists and designers, pay dropped. The opposite happened in computing, where early programmers were female. Today, that field is one of the most predominantly male — and one of the highest paying. The wage gap remains the widest at the top of the income ladder, where jobs tend to be male dominated.

I suspect that our assumptions about what type of work is skilled or specialized is also subtly gendered, although I’m not aware of any research examining this specific question. But why do we assume that STEM subjects are “harder” than subjects that are more person- or language-oriented? Aren’t human beings just as complex as code? When I posed my hypothesis to Chamberlain, he was skeptical. He pointed out that if you write bad code, the program probably just won’t work. Human beings are less rigid, or just have lower standards. When it comes to writing, for example, “many people are willing to accept mediocre work.” (Sigh.) There’s also the pesky issue of market forces and the skills that society values. Music may be a highly technical field, but it’s a low-paying one.

Nonetheless, the Glassdoor data does show that even when women and men study the same subject, women sort into lower-paying jobs when they get out of school. For example, among female biology majors, the top post-college jobs are lab technician, pharmacy technician, and sales associate. Among the male graduates, the most common jobs are lab tech, data analyst, and manager. Since the latter jobs are higher paying, the pay gap persists even among people who majored in biology. The data shows similar gaps for mathematics majors: Among both genders, data analyst and generic analyst roles were popular. But men were much more likely to be found in sexy data scientist roles, and so the average male math major earns $60,000 a year in his first five years out of school, while the average female math major earns only $49,182. Other research has shown that more of the gender wage gap comes from within-industry gaps than between-industry gaps.

When I asked Chamberlain why women aren’t getting those higher-paying industry jobs, despite their qualifications, he said his data didn’t indicate a reason. It could be driven by the behavior of the job seeker. Perhaps men feel pressured to find and take the highest-paying job they can get, while women think holistically about work-life balance and flexibility. Perhaps companies are fast-tracking men into prestigious, higher-paying roles. Or perhaps companies are being too narrow in what they’re looking for. For instance, if you’re trying to hire a data scientist and you tell your recruiter to look only at statistics majors, you’ve immediately narrowed your pool of applicants to mostly men. If companies looked at skills rather than credentials, they might find that there are women trained in sociology, biology, or anthropology who are just as handy with a spreadsheet.

Continued in article

Law School Bubble Bursts:  As hard as it is to believe, some of these lawyers lied
Inside Higher Ed:  Law Schools Flagged for Job Data ---

"NY Times: A Majority Of Law Schools Are Scamming Students And Taxpayers," by Paul Caron, TaxProf Blog, October 25, 2015 ---

Law Schools 2011-2015
Enrollment, Faculty Down 60%, Tuition Up 40%

Trustees at Indiana Tech in Fort Wayne have voted to close the institution's law school at the end of June 2017 ---

The Future Is ‘Bleak’ For Law Students And Law School Graduates ---

Legal education has been getting bad press since the start of the Great Recession, and perhaps for good reason. While tuition skyrocketed, often leaving graduates with six-figure debt loads, quality job prospects seemingly disappeared. The jobs that were left had salaries that were too low to service those graduates’ tremendous debt loads. Prospective law students began to hear about new lawyers’ joblessness and indebtedness, and stopped applying. This prompted many law schools to lower their admissions standards in the hope of filling their seats. This, in turn, brought about wave after wave of record-setting failure rates on bar exams nationwide.

Now that class sizes are smaller, employment statistics seem to look “better,” and law school administrators across the country have started spreading the word that law school is once more a good investment. But is it really?

Law students and graduates have started using Whisper, an anonymous messaging service, to tell the world about legal education and what it has done to them. These messages are representative of the general tone of posts having to do with law school.

Continued in article

Bob Jensen's threads on the rise and fall of law schools ---

The Best 50 Colleges for African Americans ---

Jensen Comment
Virtually all the very top non-profit universities now offer totally free education applicants below the poverty line. Most also offer free tuition for children of families earning less than $60,000 or thereabouts. These are the best deals since top grades are easy to earn in those universities like Harvard and Princeton (think grade inflation where the median grades in most courses is an A or A-) and degrees from those top universities are keys to the kingdom ---

Most flagship state-supported universities now make terrific deals to African Americans with high SAT or ACT scores. Since virtually all scholarships are need based children from low income families are given priorities for scholarships.

African American athletes get tremendous financial deals, special tutors, and other attractions such as a path toward professional sports in colleges that excel in athletics. However, athletics and scholastic performance do not mix well in general. This is mostly because athletics takes so much time and attention away from courses, although sometimes athletes have attitude problems regarding study and scholarship.

Since the latest affirmative action Supreme Court decision, colleges are not supposed to have affirmative action in admissions and retention. Most colleges and universities get around this ruling in one way or another to both attract and keep African American applicants. But the numbers are still too small, especially for African American male high school dropouts who think they can earn higher incomes on the mean streets. That is such a shame.

One reason is that it's such a shame is that African American graduates in science and professional programs have a tremendous edge in affirmative action hiring and financial support for graduate studies. The AICPA, for example, offers $12,000 per year for minority accounting doctoral students. Accounting doctoral programs generally are tuition free for all students in such programs such that the $12,000 can be used for living expenses.

Application period now open (until May 16) for $12,000 AICPA Fellowship for Minority Doctoral Students Other Than Asians ---

Applicants should also contact the KPMG Foundation for additional opportunities to study for an accounting Ph.D. ---
Some universities cooperating with the KPMG Foundation have tailor-made accountancy Ph.D. programs for minority students other than Asians.

Bloomberg:  Best Undergraduate Business Schools of 2016 ---

. . .

We based our ranking on four main metrics (see full methodology):

Employer Survey (40 percent of total score):  Feedback from recruiters who hire recent business graduates on how well schools prepared students for jobs at their companies.

Student Survey (35 percent):  Students' own ratings of the campus, career services department, and faculty and administrators.

Starting Salary (15 percent):  The base compensation of students who had jobs lined up, adjusted for salary variation across industries and regions.

Internship (10 percent):  The percentage of a school’s graduates who had at least one internship at any time during college.

Continued in article

Jensen Comment
The Bloomberg rankings differ from surveys like the reputed US News survey that depend more heavily upon deans and thus more heavily on research reputations of faculty in the business school rankings. Also I think US News relies more heavily on SAT or ACT scholastic test scores ---
Some of Bloomberg's top 10 undergraduate programs do not make the top 10 in the US News rankings.

For example, Bloomberg gives top 10 undergraduate business school honors to Villanova, Boston College, and Bentley that are not in the US News top 10.

Accounting programs are probably best viewed at the graduate level where most employment takes place. I don't think Bloomberg ranks accounting schools, but the latest outcomes from US News are at


Here we see some key differences in the top 10 accounting schools versus undergraduate business schools such as with USC, Illinois, and Florida.

Interestingly, MIT comes off the top ranking in accounting vis-a-vis business rankings. Personally, I don't think MIT's claim to fame is its undergraduate accounting program relative to other Boston accounting programs such as those at Boston College and Bentley. MIT comes off ranked at Number 2 in the US News Undergraduate business school rankings ---


USA Today:  Ten Top Accounting Programs ---

. . .

1. Bentley University

The accountancy department is the oldest department at Bentley University, and has a long tradition of providing a high-quality accounting education. Classes in cost accounting, auditing, financial accounting and information technology help to provide a core understanding of the business world and the role accounting plays in it. Accounting is one of the most popular majors in the school, and it is no wonder as graduates are often highly successful in their careers, earning an average starting salary of $51,000 and mid-career salary of $99,000.

2. University of Notre Dame

The Mendoza College of Business at the University of Notre Dame is a top-tier business school, combining a liberal arts education with advanced knowledge and research in accounting to provide students with a strong understanding of the field.

Students take specialized classes in strategic cost management, audit and assurance services and federal taxation among others to help develop critical thinking and leadership skills. Graduates of the accountancy program have a solid grasp of the field and find careers within the accounting industry earning an average mid-career salary of $119,000.

3. Bryant University

Founded in 1863, Bryant University has a strong history of producing professionals who are leaders in the field. Its accounting program is no exception.

Classes in leadership, financial reporting, taxation, auditing and management introduce students to the business world, while improving communication and analytical skills. Graduates of this program have a dynamic understanding of accounting and are prepared for a career in a challenging field. They typically earn an average starting salary of $52,000 and mid-career salaries of $80,000.

4. New York University

The Leonard N. Stern School of Business at New York University offers two different undergraduate degrees in accounting, one with an emphasis in C.P.A., and the other less technical in nature. The second option allows students to blend liberal arts classes with core business and accounting classes to give them a broad education in the field.

A B.S in accounting from Stern leads to a high average starting salary of $65,000. Graduates of this program often progress to positions of leadership, earning an average mid-career salary of $114,000.

5. University of Illinois at Urbana-Champaign

Accounting is a global field that plays a core role in all business functions. A degree from the University of Illinois at Urbana-Champaign will prepare you for a successful career at any organization. The undergraduate program is centered on preparing graduates for a career in a variety of accounting fields, ranging from corporate to governmental.

Students are exposed to the fundamental principles of accounting, while learning how to apply current best business practices. The curriculum integrates liberal arts classes with core business classes in management, finance and analytics to create an environment that enhances critical thinking skills. Graduates of this program have been highly successful in the business world, earning an average mid-career salary of $100,000.

6. University of Southern California

The Marshall School of Business at the University of Southern California houses the distinguished Leventhal School of Accounting. This undergraduate accounting program is one of the best in the country due to the exclusivity of the program. Students study the art of accounting, while understanding the role it plays in business. They have the ability to customize their major, so they are taking classes that prepare them for quick advancement in the business world.

Classes in finance, economics and management help promote discussions about accounting practices, while supplementing classes on accounting principles. USC graduates of the accounting program earn an average starting salary of $55,000, but typically advance quickly, to an average mid-career salary of $110,000.

7. The University of Texas-Austin

In addition to offering a Bachelor of Business Administration (BBA) in accounting, the McCombs School of Business at the University of Texas also has an integrated Master in Professional Accounting (iMPA) program that allows strong students to earn both an BBA and MPA in five years.

Students can choose a corporate track or a financial institutions track, depending on their desired career plans. Upon graduation, accounting majors typically accept jobs in industry or government with an average starting salary of $51,000.

8. CUNY Bernard M. Baruch College

The Zicklin School of Business at CUNY Bernard M Baruch College is a highly-ranked business school with a reputation of providing a quality accounting education. The school attracts top faculty that have developed a curriculum that exposes the relationship between accounting and other crucial business practices.

Students take core classes in cost accounting, financial accounting, auditing and taxation along with electives in areas such as corporate finance and business law. A degree from Baruch leads to well-paying jobs, with graduates earning an average mid-career salary of $89,000.

9. Boston College

Boston College is a top school known for its strong curriculum and the success of its graduates. The accounting department holds the same reputation due to its world-class faculty and collaborative classes.

Accounting majors take their core business classes in finance, taxation, economics, analysis and auditing at the Carroll School of Management. They are given the option to specialize in Accounting, Accounting Information Systems or Corporate Reporting. Each of these concentrations is challenging and prepares graduates for rewarding careers in a variety of accounting services, earning an average mid-career salary of $109,000.

10. Villanova University

The Villanova University School of Business offers an accountancy program that prepares students for careers at business firms, corporations and governmental organizations. The school has a dynamic curriculum that incorporates theory and principles with exposure to current business practices. This gives students the opportunity to gain a well-rounded business education and secure jobs after graduation.

Classes in accounting, auditing and taxation are supplemented by electives in areas such as fraud, international accounting and accounting for real estate. Villanova graduates are well-equipped for an accounting career, earning an average starting salary of $55,000 and mid-career salaries averaging $107,000.


US News Ranking of Top Accounting Undergraduat Programs ---

Overall Score:
University of Texas—​Austin (McCombs) 

Austin, TX

$32,298 per year (in-state, full-time); $48,832 per year (out-of-state, full-time)
Overall Score:
University of Pennsylvania (Wharton) 

Philadelphia, PA

$62,424 per year (full-time)
Overall Score:
University of Illinois—​Urbana-​Champaign 

Champaign, IL

$21,974 per year (in-state, full-time); $32,974 per year (out-of-state, full-time)
Overall Score:
University of Chicago (Booth) 

Chicago, IL

$61,520 per year (full-time)
Overall Score:
Stanford University 

Stanford, CA

$61,875 per year (full-time)
Overall Score:
Brigham Young University (Marriott) 

Provo, UT

$11,620 per year (LDS member, full-time); $23,240 per year (Non-LDS member, full-time)
Overall Score:
University of Michigan—​Ann Arbor (Ross) 

Ann Arbor, MI

$54,450 per year (in-state, full-time); $59,450 per year (out-of-state, full-time)
Overall Score:
New York University (Stern) 

New York, NY

$60,744 per year (full-time)
Overall Score:
University of Southern California (Marshall) 

Los Angeles, CA

$51,786 per year (full-time)
Overall Score:
Indiana University—​Bloomington (Kelley) 

Bloomington, IN

$25,500 per year (in-state, full-time); $44,460 per year (out-of-state, full-time)
Overall Score:
University of North Carolina—​Chapel Hill (Kenan-​Flagler) 

Chapel Hill, NC

$34,015 per year (in-state, full-time); $52,470 per year (out-of-state, full-time)

Jensen Comment
The USA rankings lean toward universities in big cities where starting salaries are somewhat higher but living costs are much higher than than say living costs in Utah and surrounding mountain states. Exceptions include Bryant, Illinois and Notre Dame, but these universities feed nearby urban centers.

I favor the US News report that is influenced more heavily by opinions of administrators that, in turn, are more influenced by reputations of accounting faculty. The US News anointed universities have more stars.

Following Starbucks' lead, JetBlue employees will now get free college education in the online Arizona State University program
"JetBlue Will Pay Employees’ College Tuition Upfront," by Corinne Ruff, Chronicle of Higher Education, April 18, 2016 ---

The program is the latest company-and-college partnership that takes cues from the Starbucks College Achievement Plan — a program, created in 2014, that allows employees of the coffee-shop chain to take online classes at Arizona State University while continuing to work at the company.

But there’s a key difference between the JetBlue program and many other partnerships in the Starbucks-Arizona State model.

Most of the programs either reimburse tuition costs or offer discounts, requiring employees to foot at least some of the bill for their courses. But JetBlue employees won’t pay anything upfront: The company will cover the full cost of an associate degree.

To earn a bachelor’s degree, however, students would have to cover the $3,500 capstone course at Thomas Edison State, either out of pocket or through a scholarship.

In August the company started a pilot version of the program with 200 employees with at least two years’ seniority and with at least 16 credits from an accredited college or university already in hand.

Bonny W. Simi, president of the subsidiary JetBlue Technology Ventures, says that employees had long asked for tuition reimbursement, but that the company wanted to go a step further and foot the whole bill.

‘Success Coaches’ Are Assigned

As interest grows in the unbundling of higher education — the use of just the learning material from the college experience — Ms. Simi says the JetBlue program was made possible by the flexibility and affordability of competency-based education.

"We’ve mapped out degrees so that it’s basically higher ed but stripped away are the cafeterias, the football team, the big campuses, the dorm, and everything," says Ms. Simi, who oversees the program. "It’s just the class."

Continued in article

Jensen Comment
There are other free or highly subsidized college programs paid for by employers such as the huge Wal-Mart program with American Public University, but the Starbucks and JetBlue programs have the most prestigious diplomas in my opinion.

"News Analysis: Is 'Wal-Mart U.' a Good Bargain for Students?" by Marc Parry, Chronicle of Higher Education, June 13, 2010 ---

Following Starbucks employee education benefits with Arizona State University,
Anthem Blue Cross offers education benefits with the University of Southern New Hampshire

"Fiat Chrysler Offers Degrees to Employee Families (including families of dealer employees) ," Inside Higher Ed, November 23, 2015 ---

"An Increasingly Popular Job Perk: Online Education," by Mary Ellen McIntire, Chronicle of Higher Education, June 2, 2015 ---

Bob Jensen's threads on fee-based distance education ---

Of course there are thousands of free online education and training courses available from prestigious universities such as Stanford, MIT, and top Ivy League universities. But transcript credits are not free for students who want credits for MOOCs on their transcripts. Of course prices are much lower than onsite attendance credits ---

Added Jensen Comment
What I think is the most interesting trend in what might be termed competency-based courses and degrees is the lowering of the bar on admissions standards. Virtually anybody can take these newer online cheaper and/or subsidized courses with grades awarded on the basis of competency examinations while taking the courses. In comparison, students admitted on site to universities like Harvard and Stanford and Arizona State University face higher admission standards. But with grade inflation in virtually all on-site campuses (now having median grades of A-) the standards for competency are much lower, in my viewpoint, than the competency-based online courses via MOOCs that dare not become shams with grade inflation.

The bottom line is that the competency standard for Harvard University and Stanford University is being admitted to study on campus. The competency standard for getting transcript credit for their MOOC courses is . . . er . . . er . . . demonstrated competency in the subject matter.

If you want to make a Harvard University onsite student or an ASU onsite student wet his pants make him accept the online competency-based tests for the course he just received an A or B grade in from his professor on campus.

Arizona State University is now under enormous pressure not to make the corporate-subsidized online degrees truly competency-based and not grade-inflated shams.


How to Mislead With Statistics

Here's how much surgeons, lawyers, and 18 other top-earning professionals make per hour ---

Jensen Comment
This articles is one of the best/worst articles I've seen lately on how to lie with statistics.

Here are a few things to point out to your students if you want to highlight how not to report survey results.

First and foremost when you define the total populations (apart from sample sizes) and don't mislead about the sizes of the populations.
For example, the above article says there are 24,000 employed psychologists and 15,650 physicists.  Aren't professors and other teachers in these fields "employed?" There are more employed specialists in these disciplines employed only in academia than the numbers shown above. Most likely the average hourly wage would be greatly pulled down if academics were included in the population and the sample.

Secondly the article ignores standard deviations and kurtosis of the distributions from which averages are reported. For example, outliers in millions of dollars of compensation to attorneys and other professionals tend to skew averages upward. Even medians can be misleading for highly skewed distributions with outliers on both sides of the medians. Think of the lawyers who will work for food.

How random are the samples from the populations identified in the study. My guess is not very random.

Watch definitions.
What is a "chief executive?" The manager-owner of our local hardware store is a "chief executive" as is the CEO of a Fortune 500 Corporation.
What's the definition of a "financial manager versus a "sales manager?" Why are there twice as many financial managers as sales managers?
What's the definition of "public relations and fundraising managers" and why are there only 60,380 of them when there are 531,161 financial managers? Many financial managers and chief executive officers and are also the public relations and fund raising managers. My guess is that the sampling population totally ignored public relations and fund raising managers for colleges, universities, churches, and charities where compensation is often quite low or contingent upon funds raised.

What's the difference between a pharmacist and the chief executive. Many pharmacists also own and manage the entire drug store?

What's "compensation?" Most CEO's of Fortune 500 companies get paid on performance-based contracts depending upon such things as corporate earnings reports. In other words what a CEO makes one year may be doubled or tripled the next year and then taken way down the following year.

What's "compensation?" Most CEOs are paid in many ways including stock options, stock awards programs, living benefits (use of the corporate jets and ski chalets), wine, women, and song.

There's an enormous difference between what a physician makes before or after malpractice insurance and other expense expenses. Those that work for much lower annual salaries often do not have to pay their own malpractice insurance, nurse expenses, receptionist expenses, accounting expenses, office rental expenses, etc.

I could go on and on, but I think students will catch my drift.

This article is so misleading it's worse than garbage.

How to Mislead With Statistics

"This graph shows how much money you can earn from each college major," by Abby Jackson, Business Insider, December 24, 2015 ---

Jensen Comment
This graph is a great illustration of an interactive graphs, although you have to play around with it some to get the hang of it. For example, if you want to see the graphs for just "Accounting" click off the box for "All," click the box for "Accounting," and then scroll down and click on "Apply."

By now many of you are weary of my warnings about such things as definitions, averages without standard deviations, skewness (kurtosis), etc. For example, means or medians for "accounting" can be misleading without knowing how accounting is defined. For example, there's a big difference between what lowly bookkeepers make versus CPA firm partners and executives in major corporations. There's a huge difference between what accounting Ph.D. graduates make in struggling small private colleges versus what they make at Ivy League universities. Also there's a huge difference in fringe benefits such as housing subsidies, research stipends, summer pay, and fringe benefits such as contributions to TIAA/CREF. Also Ph.D. graduates tend to have opportunities for outside income in book writing and consulting. At a prestigious university like Harvard, a professor's Harvard salary is likely to be only a small part of total income.

In general, the biggest problem is in career tracking combined with income standard deviations. Comparing the lifetime earnings of a cost accountant in General Electric cannot really be compared with the lifetime earnings of a partner in a small local public accounting firm really cannot be compared because some of these partners may top out at $50,000 or more per year whereas others top out at $500,000 per year after their retirement buyouts are factored into compensation.

A top accounting graduate typically goes to work for 5-10 years with a large public accounting firm or the government. However, 80% or more of those graduates leave (most never intended to stay in public accounting or government employment) and go to work for in private industry such as when an IRS agent goes to work at a high level in a corporate tax department. At such time they often make much more than others who stay in public accounting or government. The problem is that in studies like the one cited above these "former" accountants are no longer classified as accountants such as when a public accountant becomes the CFO or CEO of a large or small corporation. Hence in studies like the one above a former accountant is excluded from the 20-year survey of "accountants."

The same problem arises when examining accountants who only have "associates" degrees. Typically these accounting graduates are no longer "accountants" ten or 20 years out. Some may be CEOs of their own companies and some might earn over $200,000 per year in stores or plumbing companies that they own. Hence, I'm extremely suspicious of graphs that compare the benefits of getting a Ph.D. versus an associates degree in accounting. The problem is that most associates  or bachelors degree holders either dropped out of the labor market (such as to have babies) or became entrepreneurs who are no longer classified as "accountants."

Problems like those mentioned above become exacerbated when comparing types of degrees such as accounting versus culinary arts versus creative writing.

The bottom line is that studies like this are so misleading and dangerous that I wish they did not get published.

Bob Jensen's threads on careers are at

For a list of job boards for accountants see


"14 Things High Schoolers Should Know Before They Go To College," by Vivian Giang, Business Insider, July 16, 2013 ---


The Muse (free job hunting site) ---

PwC US Launches CareerAdvisor
, January 7, 2015
New platform of tools to provide students with resources they need for the career they want


"2015 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits," AICPA, 2015

The 2015 edition of Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits is a publication of the results of a long-standing American Institute of CPAs survey.

The survey, published since 1971, identifies key trends in accounting enrollment, as well as graduation and hiring. This report, covering the 2013–14 academic year, provides estimated information and forecasting regarding the supply of and demand for new accounting graduates within the public accounting sector to various stakeholders and interested parties.

In the 2013–14 academic year, enrollment in accounting programs reached an all-time high after a year of rapid growth — a 19% increase for master’s degree enrollments and a 3% increase in bachelor’s degree enrollments. Master of Accounting programs of both public and private universities saw major growth in enrollment — with 23% and 50% increases in enrollments this period, respectively — while there was a smaller increase (12%) of enrollments in Bachelor of Accounting programs at private universities and a 22% decrease in bachelor’s degree enrollments at public universities.

Total bachelor’s and master’s degrees in accounting awarded in the 2013–14 academic year remained steady with a less than 1% decline after reaching an all-time high in the 2011–12 academic year. Master’s degrees awarded increased by 31%, while bachelor’s degrees awarded decreased by 11%.

Hiring also reached record levels after 7% growth in all new hires. Master’s degree hires saw the largest growth, with an 11% increase since 2012. Over the same time period, bachelor’s degree hires increased 5%. As a percentage of total hires in 2014, however, new hires with bachelor’s degrees increased 3 percentage points, new hires with master’s degrees decreased 6 percentage points, and total nonaccounting hires increased 2 percentage points since the previous reporting period. As a percentage of new hires, those assigned to accounting/auditing decreased 4 percentage points while assignment to taxation increased by the same amount.

Universities and firms are both optimistic about the growth of the profession — 97% of bachelor’s programs and 70% of master’s programs expect their enrollment to be the same or higher than the previous year. Additionally, 91% of firms expect their hiring of new accounting graduates to be higher than or the same as the previous year. Larger firms are especially optimistic about future hiring with all large firms employing over 200 CPAs forecasting the same or more new hires in every area next year.

The gender distribution of professional staff at all firms is now 52% male and 48% female. The reported race/ethnicity distribution changed with the White race/ethnicity category increasing 10 percentage points, the Asian/Pacific Islander race/ethnicity category decreasing 9 percentage points, and the Black/AfricanAmerican race/ethnicity category decreasing 2 percentage points. The gender distribution of partners also showed a significant shift, with a 5 percentage point increase in female partners between 2012 and 2014.

The AICPA is very appreciative of the universities and firms who took the time to participate in this year’s survey. Please contact us at with any questions or feedback as we strive to make the information in these surveys relevant to your needs.

"The Economic Guide To Picking A College Major," by Ben Casselman, Nate Silver's 5:38 Blog, September 12, 2014 (slightly dated) ---

Jensen Comment
This is a better-than-most article article on this topic, although virtually all such articles are misleading in terms of long-term versus short term reasons for choosing a major. For example, some of the highest paying careers at the point of graduation are not great careers in terms of long-term opportunities for professional growth or lifetime income. Accounting and finance, for example, are typically ranked low in terms of average starting salaries but rank high in terms of economic opportunities. In part this is because accou