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Get the inside scoop on what makes Emory’s Goizueta Business School great and how you can present a strong MBA application. Explore the difference between our One-Year MBA and Two-Year MBA programs, talk to our admissions team, and meet students.
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Ask an Expert: On Why Accounting Is Both Interesting and Important
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27 Sep 2021, 07:00
27 Sep 2021, 07:00
| FROM Madison(Wisconsin) Admissions Blog: Ask an Expert: On Why Accounting Is Both Interesting and Important |
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Q: For many of us, our only experience with accounting is the dreaded tax season. But accounting touches nearly every aspect of business, and both shapes and is shaped by new advances in technology and information management. How does accounting go beyond our common understanding of bookkeeping and number crunching? A: Accounting plays an essential role in various aspects of the economy. My research and teaching focus is financial accounting. I think of it as an area that studies the role of information in the business world. Accounting information is much more than just the outcome of bookkeeping records. It refers to a broader set of information that you can get from a firm’s mandatory disclosure such as its financial statements, as well as its voluntary disclosure such as earnings announcements and conference calls. It reflects a systematic way of how the insiders (company executives and managers) communicate with outsiders regarding the financial performance of a firm. There is a lot embedded in the accounting information of a firm, and different stakeholders seek different use of such information. For example, investors use accounting information to access the fundamental value or growth opportunity of a firm, which is critical in making investment decisions. Similarly, creditors use accounting information to access the financial health of a firm and decide whether to extend credits. Accounting information is also often used in contracts and even the political process. For instance, firms often tie CEO bonuses to accounting numbers which helps shareholders to assess CEO effort levels. It is not only important to understand how accounting information is used, but also useful to know how such information is produced, disclosed, and disseminated. A lot of elements can come into play—for example, the underlying economic activities of the firm, accounting information system, corporate governance, managerial incentives, auditors, taxes, and even technologies. Take disclosure as an example: managers would often like the investors to perceive that the firm is doing well. Therefore, they have incentives to disclose strong accounting numbers. However, the same managers may not want the competitors to notice that the firm is lucrative, which may discourage them from disclosing too much. Sometimes firms are struggling to break even or to meet analyst forecasts. Managers will then have incentives to manipulate earnings a bit so the numbers look pretty. But if they go too far, auditors or even the U.S. Securities and Exchange Commission (SEC) may step in and question the accounting practices. Technology also shapes how firms disclose their accounting information. Managers electronically file their accounting reports and disseminate accounting information in various outlets such as social media. All of these complicated factors come into play when the accounting information is produced and disclosed. —Ivy Feng is an assistant professor in the Department of Accounting and Information Systems at the Wisconsin School of Business. The post Ask an Expert: On Why Accounting Is Both Interesting and Important appeared first on Wisconsin School of Business. |
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Entrepreneurs Need Stage Presence: WSB’s Chia-Jung Tsay Featured in Ha
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28 Sep 2021, 13:00
28 Sep 2021, 13:00
| FROM Madison(Wisconsin) Admissions Blog: Entrepreneurs Need Stage Presence: WSB’s Chia-Jung Tsay Featured in Harvard Business Review |
When entrepreneurs pitch their startups to investors, they might be wise to remember that what they’re not saying is actually speaking volumes. WSB’s Chia-Jung Tsay A recent study by Chia-Jung Tsay, the Bruce and Janice Ellig Professor in Management and an associate professor of management and human resources at the Wisconsin School of Business, finds that investors were more influenced by the “stage presence” or silent visual performance of the entrepreneurs’ presentations than the actual pitch content itself. “Entrepreneurs need passion, engagement, and energy to be successful, and it’s possible to convey all those things without words. There’s something about the way presenters carry themselves as they walk onto the stage and then make pitches that may reflect their level of preparation and commitment,” Tsay tells Harvard Business Review in the magazine’s September-October 2021 issue. A new faculty member at WSB after after nearly ten years on the faculty at the University College London School of Management, Tsay brings expertise in entrepreneurship and cross-disciplinary thought leadership. Her research examines the psychological processes that influence decision making about performance, and investigates the roles that perception, expertise, and nonconscious biases play when it comes to professional selection and advancement. Tsay’s expertise regarding performance extends beyond the academic: A classical pianist, Tsay has performed at venues including Carnegie Hall, Lincoln Center, and the U.S. Embassy. She holds music degrees from the Juilliard School and the Peabody Conservatory of the Johns Hopkins University, where she later served as faculty. Tsay holds a PhD from Harvard Business School in organizational behavior and psychology, as well as music. In 2021, she was named one of the world’s Best 40 Under 40 Business School Professors by Poets & Quants. Tsay has been recognized as an Association for Psychological Science (APS) Rising Star. The post Entrepreneurs Need Stage Presence: WSB’s Chia-Jung Tsay Featured in Harvard Business Review appeared first on Wisconsin School of Business. |
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Watch Dean Sambamurthy’s State of the School Address
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30 Sep 2021, 11:00
30 Sep 2021, 11:00
| FROM Madison(Wisconsin) Admissions Blog: Watch Dean Sambamurthy’s State of the School Address |
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The return to campus, the pursuit of a top 10 undergraduate ranking, new resources for students, and a goal of lifelong learning for all Business Badgers are among the topics discussed by Vallabh “Samba” Sambamurthy, Albert O. Nicholas Dean at the Wisconsin School of Business, during his recent State of the School address. “We are back,” Sambamurthy says of the return to campus after 18 months of pandemic-forced adjustments that included remote learning and hybrid classes. “It’s really amazing to see the sense of excitement. When I look outside my window I see the long stream of students going to their classes and think this is what the Wisconsin campus should be like.” Sambamurthy talks about progress toward the goals within Roadmap 2025, the School’s strategic plan. Despite the challenges of the pandemic, WSB has taken steps to build a global platform for lifelong learning and has made investments to enhance student success. Sambamurthy is joined in the virtual event by Jim Franzone, assistant dean for the undergraduate program, and Melissa Leffin, director of career studio and student coaching for the undergraduate program. Taura Prosek (BBA ’93), chair of the Wisconsin Business Alumni Board, serves as host and moderator for the 30-minute conversation. Questions following the State of the School address can be directed to alumni@wsb.wisc.edu. The post Watch Dean Sambamurthy’s State of the School Address appeared first on Wisconsin School of Business. |
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