Published on July 9, 2007
Department of Accounting, Finance and Business Law: Department of Accounting, Finance and Business Law Presentation to: Provost Ivelaw Lloyd Griffith and The RU Chairs andamp; Directors August 9, 2006 Faculty: Faculty Twelve Full-time Tenured or Tenure-track Faculty Six in Accounting, four tenured (3 Professors, 1 Associate Professor, and 2 Assistant Professors) Four in Finance, two tenured (2 Professors, 2 Assistant Professors) Two in Business Law, both tenured (1 Professor and 1 Associate Professor) All 12 possess the appropriate terminal degree Faculty size is unchanged over the past five years. Majors: Majors Accounting Finance 2000-01 170 135 2001-02 180 124 2002-03 165 104 2003-04 167 99 2004-05 157 93 2005-06 160 90 AVERAGE 166.5 107.5 Graduates: Graduates Accounting Finance 2000-01 52 53 2001-02 48 45 2002-03 29 43 2003-04 32 44 2004-05 48 39 2005-06 40 43 AVERAGE 41.5 44.5 Experiential Learning: Experiential Learning The Department has an internship program that involves academic credit for approved internship opportunities (the '490' classes). Over the past five years there have been 48 students enrolled in FINC 490, and 44 students have been enrolled in ACTG 490. We plan to expand these opportunities. Many of our students participate in non-academic credit internships. We also plan to expand these opportunities. SMIPO: SMIPO SMIPO, (Student-Managed Investment Portfolio Organization) is advised by the Finance faculty and 'employs' students from all COBE majors. SMIPO occupies at least as much time as an internship, and many of our best students from each of the College’s departments participate in SMIPO despite the absence of any academic credit for their involvement SMIPO: SMIPO The students operate an investment fund, using real dollars in a real investment setting, established on a corporate model. SMIPO began in 2002 with $100,000 from the RU Foundation. Total Foundation funding has been expanded to $350,000. Current market value of the fund is approximately $430,000. Publications: Publications The current faculty have been active in the area of professional contributions, a key factor in our accreditation process. Our 12 full-time faculty (one of whom is a new Ph.D.) have produced: Total Last 5 yrs* Books 12 3 Monographs 2 2 Refereed Journal Articles 112 39 Proceedings 92 11 Other 9 6 Non-Refereed Publications 17 6 Total 244 67 * Period of time used in AACSB Reaccreditation review Faculty Awards and Honors: Faculty Awards and Honors Dr. Doug Brinckman has been awarded the RU Foundation Award for Excellence in Teaching. Dr. Wayne Saubert has been awarded the RU Foundation Award for University Service. Dr. Bruce Chase has recently been designated as a 'Super CPA' by the Virginia Business Magazine. Dr. Chase has also been awarded the Association of Government Accountants’ (AGA) National Education and Training Award in 2002; the Outstanding Service Award from the VGFOA in 2000; and the Broadus Award in 1997. Faculty Awards and Honors: Faculty Awards and Honors Over the past five years three faculty in the Department (Dr. Felix Amenkhienan, Dr. Dan Davidson, and Dr. Steve Beach) have received the 'Outstanding Faculty Award' for the College of Business and Economics. This award is decided by the leaders of the various student groups within the college. Dr. Steve Beach also received the inaugural 'Professor of the Year' award from Beta Gamma Sigma, the business honorary fraternity, spring 2006. Dr. Shalini Perumpral received the 1988 Finance Faculty Award for the College of Business and Economics. Faculty Awards and Honors: Faculty Awards and Honors Dr. Dan Davidson and Dr. Wayne Saubert received a 'Best Paper Award' from the Southern Academy of Legal Studies in Business for their 2004 paper addressing Payday Loans. Dr. Steve Beach and Dr. Clarence Rose received the award for 'Best Paper in the Personal Finance Track' in 2004 at the American Society of Business and Behavioral Sciences Conference. Program Plansfor the next five years: Program Plans for the next five years Recruit a chairperson Recruit motivated new faculty Emphasize Entrepreneurship within the department and the college Develop and implement a new track in Financial Planning within the Finance program Develop and implement additional alternative methods of satisfying the 150 hour requirement for accountants seeking CPA certification Emphasize Internationalization for our students and faculty Prospects: Prospects The passage of Sarbanes-Oxley has created an increased demand for accountants. The number of job opportunities in accounting should result in an increased interest and enrollment in Accounting. Financial Planning is one of the fastest-growing jobs in the country, and we have a new Financial Planning track proposed. This new track should result in an increased interest and enrollment in Finance. Prospects: Prospects The state recently enacted a statute mandating that public colleges and universities include financial literacy for their students. We have a course that will help RU to meet this requirement, Personal Finance, while also introducing students to Finance at an earlier stage. Problems: Problems The Department needs additional faculty. We need more faculty in Accounting in order to meet our undergraduate obligations while also being able to offer the graduate classes that our students need to prepare for a career in Accounting, especially those who aspire to the CPA We need more faculty in Finance to implement the financial planning track, to offer adequate sections of Personal Finance, or to offer our electives often enough. Facilities: Facilities The Department of Accounting, Finance and Business Law strongly supports the construction of a new signature building for the College of Business and Economics. Such a facility is imperative in the continued growth and development of our programs, and to encourage the continued support of our alumni and friends.