CAA reviews accounting and finance programs

Debby Hernandez, Administration

The Council on Academic Affairs examined program reviews for accounting and finance degrees on Thursday.

Assistant chair of accounting Denise Smith said the accounting program underwent changes since the last review in 2006.

Changes include the inclusion of an accounting minor within the program, which is open only for business majors.

Beginning on July 1, 2013, Illinois has included knowledge in business communications and ethics as requirements for those who plan to take the Certified Public Accountant exam.

Smith said in order to satisfy the new requirements, two courses were included into the program including business ethics and accounting communications in Spring 2013.

She said demand for accounting professionals is expected to continue to grow.

“Our high performing students get jobs,” Smith said.

The program review states that demand for accounting professionals is expected to grow 13 percent from 2012 to 2022.

According to Eastern’s Career Services, more than 90 percent of accounting majors have secured jobs upon graduation.

Enrollment changes have also occurred within the accounting program.

Smith said enrollment has declined to 14.6 percent between 2006 and 2012 while Eastern decline is at 15.3 percent.

“It mirrors the slope of the decline of Eastern’s enrollment but not quite as much,” Smith said.

Faculty changes have also occurred since the last review.

“Since 2006 we have had seven retirees or departures and five new hires,” she said.

Assistant chair of finance Richard Whitaker said the finance program has also included a minor since the last program review.

In addition, the finance program is also expected to grow.

The review also states demand for finance professionals is expected to grow by 9 percent from 2012 to 2022.

Career Services reported that 84 percent of finance graduates are employed upon graduation.

The department has also undergone enrollment changes since the last program review.

“From 2008 to 2011 we averaged about 205 finance majors,” Whitaker said. “In 2013 enrollment in finance majors had declined to 136.”

He said reasons for the decline included adverse publicity in the field of finance during the 2008 to 2009 financial crisis.

The finance program also updated their Securities Analysis Center with current technology.


Debby Hernandez can be reached at 581-2812 or [email protected]