Monday, March 12, 2012

2011 AICPA National Accounting Competition

Students from N. C. State, my alma mater, have won the 2011 AICPA National Accounting Competition. The Journal of Accountancy story is here. "The members of the team, Wolfpack in the Black, are: Alan Perry (captain), Amanda Dew, Brian Jones, Seanna Robey and Eileen Taylor (faculty adviser)."

I was one of the first five students in the N C State accounting program to take the CPA exam. Leon Ennis, Cranstoun Reinoso, Bill Pinna and Mac McBurney, the instructors, laid the foundation for a great program. Full disclosure: We had to commute to Chapel Hill one semester to take auditing from Junius Terrell, with apologies to Joe Ben Hoyle, probably the best auditing teacher in the land. Four of us passed the auditing section (including one who didn't retain credit for it because it was the only section passed).

We first five received credit for 40% of the parts attempted on our first sitting - not bad when the "premier" program in the state was just over 50% and the national rate was below 20%. I also taught at State for 8 years.
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Just to show you how good an auditing teacher Junius Terrell was, one of the students in that class, Phil Ameen, had the highest combined grade in North Carolina on the May 1972 CPA exam. If I remember correctly, he had the second highest combined grade in the country.Phil went on to do relatively well in the profession. His bio is here. It is a bit out of date; Phil is retired now although I wouldn't be surprised if he were even less retired than I am.

I'd like to say that Phil and I were bosum buddies but we weren't. He sat on the front row of the class and I was way in the back with the other interlopers from NCSU. I spoke with him at a professional meeting a few years ago. He claimed to remember me but he was probably just being polite.

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