Financial meltdown a learning tool for many students

The traders look panicked by the crisis. Congress - torn as to how to fix it. Finance, business and accounting students, however, are transfixed as they watch this historic scene play out before them. And - watch its lessons trickle into the classroom.

"I've been in and out of school with work and stuff for years and then to all of a sudden have everything in an uproar all in one semester, yeah, it's amazing. It's amazingly daunting and it's amazingly exciting," says State University of New York Institute of Technology accounting student Nicole Lawrence.

Professors at SUNYIT agree; bad business decisions, bail-out talks, and the resulting stock market bungee jump are helping business students see the relevance of what they're learning in the classroom.

"They're thinking now, 'How is this going to affect loans that I may have; my parents are getting ready to retire'," says SUNYIT accounting professor Maureen Smith-Gaffney, Ph.D. Smith-Gaffney says what's happening in the financial world right now is very relevant to what's going on in her classroom.

"It's actually very pertinent to what we're doing because in fact, last class, which was Monday, we were listening to a webcast on fair value accounting which is at the basis of what they feel that the crisis is."

Nicole Lawrence is an accounting student - not a political science major. Yet she instantly sums up in a sentence or two the daunting task facing Congress:

"If they don't do the bailout, we're going to have consequences; if they do the bailout, we're going to have consequences. Either way, the public is going to pay for it."

Reprinted with permission from WKTV News, Utica, New York

You may like these other stories...

In today's volatile marketplace, companies, regardless of their size, are dealing with more complexity than ever before. Global markets, which bring both new opportunities and new competitors, far-flung supply chains...
If you're a CPA with a bent for do-gooding, nonprofit accounting may be just your niche."We deal with a lot of organizations that do a lot of good things," says Ryan Keith, a partner in KB Parrish & Co. in...
Summer is gone and college students are back on campus or will be headed there soon. For accounting majors, this means fall recruiting season is about to be in full swing, complete with all the traditions: "Meet the...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 21
Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.