Successful Accountants Understand IT

By Tegan Budge and Jenna Pickel

Sponsored by the MIS BBA Program with support from Ernst & Young

To excel in today's world, accounting students need to know how to use technology wisely. McCombs professors and top accounting professionals agree: investing in an MIS minor will pay off in future career success.

Technology is changing the accounting profession. Automation enables accountants to focus less on getting and processing data and more on interpreting and using it. Technology also allows for a faster and better data exchange; databases, e-mail, and the Internet make information easier to access and share. However, improved technology also leads to new security risks. With the vast amount of data stored on computers and shared online, companies must make information secure and accurate.

Steven Pegolo, a partner in Ernst & Young's Risk Advisory Services practice, says that college-level MIS courses provide accountants with the skills to adapt to ever-evolving business technologies. He advises: "MIS knowledge is critical to helping accounting students understand their clients' business models and serve as trusted business advisors."

According to David Blackwell, Vice President of Finance for Wal-Mart's Global Procurement Division, "Leveraging technology is an advantage today, but will become a required competency in the future for a successful professional career." In addition to being able to use technology, accountants, like all business professionals, must recognize general IT risks and master IT controls.

Bill Wade, CIO of Gold's Gym, says, "Basic computer skills and specialized information retrieval skills (data analysis, report writing, and data mining) are required to do the job." And while automation may take care of some of the work, accountants need to know how to use the data provided through automation. Mr. Blackwell adds, "The key is converting data to information. Asking the right questions and interpreting the data to provide answers or recommendations is how you add real value."

Accounting majors who want a personal competitive advantage in the job market should focus on the analytical side of MIS: accounting professionals need to know how to implement the program, not write the code for it. MIS 325, Introduction to Data Management, MIS 373 Business Process Excellence, MIS 373 Business Intelligence with Data Mining, and MIS 375 Strategic IT Management are all recommended by accounting professionals.

Andrew Dahle, a partner at PricewaterhouseCoopers Advisory Practice, says, "MIS experience is vital for any accounting student because reliance on technology is only going to increase." No matter which MIS classes an accounting student takes, they will have an edge over their peers. Learning to use technology wisely is knowledge that will advance an accounting career.