Sommer Hamilton '04, April 1st, 2006
Mays continues to lead all other business schools in the nation when it comes to sending graduates to technical internships with accounting rule-makers at the Financial Accounting Standards Board.
Two more students graduating from Mays this year will join the FASB as postgraduate assistants on standards-setting projects, bringing the school’s total to 17 since the FASB program was launched in the early 1980s. That’s nearly twice as many as any other business program in the nation â€” only the University of Wisconsin comes close with 10 students selected in the same time period for the competitive program.
The FASB establishes and improves standards of financial accounting and reporting for the guidance and education of the public. Ten students are selected each year to work with the FASB on major agenda projects or short-term practice and implementation issues.
Only some 51 schools of the 350 accredited U.S. business schools have had at least one student selected for the prestigious year-long postgraduate program since 1982. After Texas A&M and Wisconsin, other top business schools have sent eight or less students to the FASB program over the two-decade time period, including Ohio State, Notre Dame, the University of Texas and the University of North Carolina.
The students chosen from Mays this year are both undergraduate and master’s degree graduates of the five-year Professional Program at Mays.Â Bradley McGrathÂ will graduate in May with a BBA and master’s in accounting, and will join the FASB this July.Â Blake Beckendorff, an accounting undergrad earning his master’s in finance in August, will begin his postgraduate work at the FASB in January 2007. He held internships with KPMG and Deloitte in 2005.
McGrath, a Houston native and auditing specialist who held an internship with PricewaterhouseCoopers in 2005, says the FASB work will put him on the path to eventually running his own accounting firm. “I’m hoping for a challenging experience that will sharpen my technical skills, as well as my abilities to research and solve complex problems,” he said.
Through the FASB, graduates of the nation’s top business programs come to have an in-depth understanding of the roles played by preparers, auditors and users of financial information.
“I am delighted that we have two more graduates beginning their careers with the FASB,” said James Benjamin, head of Mays’ Department of Accounting. “I know that this opportunity provides an incredible jumpstart to careers in the financial community. Our success in this competitive program is testimony to both the quality of our Professional Program and the incredible personal traits of our students.”