Yongsheng Wang, China
1) In what ways will emerging internationalization impact students entering the accounting field?
Marketplace globalization is now a part of our everyday life. Corporations understand that national economies are interrelated. Accounting, the tool to record the operation and to report financial situations of corporations, is playing a critical role in the globalization. For example, if a Chinese corporation plans to go public in American stock market, it will have to be familiar with both Chinese and US GAAP and accordingly prepare two distinct financial reports. Consequently, if they still view the accounting area as isolated, accounting students will be in a great disadvantage in international competition.
2) What should students do to be better positioned to succeed in international competition?
- They should learn a second language.
- They should also learn about cultures of other countries.
- If financially feasible, students should visit and work in other countries to better understand their cultures.
What can the Jon M. Huntsman School of Business and/or the School of Accountancy do to prepare students better for these challenges?
- It can help accounting students to become more aware of the global economy. This might be realized through presentations from professionals with international backgrounds. Besides, professors in our department should be globally oriented.
- Encourage students to pay attention to the countries that interest them most.
What have you learned in your international experiences that you would like to share with our students?
- Business cultures. For instance, the dress requirement for interviews is different in US and China. I need to get used to it.
- It has broadened my vision. Before coming to US, my impression on US is from books, movies, and internet. Because I stayed in US for a half year, I experienced the American culture directly.
5) What is unique about the business environment in the countries you are most familiar with?
China’s rapid economic growth and great market potential offer wonderful opportunities for the world. After the recent revision, China’s GAAP is trying to follow the international accounting standards. Companies in China desire to know the global rule and try to build business connections with outside world. The Big Four have built branches in many cities and owned large business around China.
Brief Bio:
Before starting my MAcc program in USU, I got bachelor’s and master’s degrees in international economics in China. I got the membership of CICPA in my graduate study. After my graduation, I worked for three years at the accounting department of the most famous insurance company in China.
In November, I received an offer from Ernst & Young LLP in Salt Lake City.