Prof Biddle: The sky's the limit

Despite recent notorious accounting scandals in the US, accountancy is currently enjoying a massive surge in popularity, so much so that it is now one of the most popular majors at the Hong Kong University of Science and Technology (HKUST) and attracts top students like bees to a honey-pot.

As far as this region is concerned, a major factor behind accountancy's accelerating popularity is the economic explosion in mainland China.

According to Professor Gary Biddle, the head of HKUST's accounting department, management information is essential to China's economic development and explains the launch of three national institutes of accounting on the mainland.

"China, right now, has somewhere between 65,000 and 85,000 certified accountants," he notes. "But it needs somewhere around 300,000 to 350,000 - they're way short! This is why former Premier Zhu Rongji has taken a personal interest in accounting and came to Hong Kong for the 16th World Congress of Accountants in 2002."

"Another thing that's happened is Enron," he adds. "In contrast to what some may think Enron means, the demand for accounting is going to boom and we're starting to see it." And how does this impact Hong Kong student accountants? "The sky's the limit in accounting. There's never been a better place or time to be an accountant than right now. This is it!"

Massive demand

Although accountancy can be studied at all Hong Kong universities and is also offered as various postgraduate research and taught degrees, only a select 170 accountancy students currently graduate from HKUST every year. Of these, 130 start their first year as accounting majors, but after stringent assessment, this number drops to approximately 120.

At the beginning of the second year, a competition is held for students from the general business major to compete for the remaining 50 spaces and, as Prof Biddle stresses, "The competition's quite keen!" Today, although those attending the full-time MBA are from across the globe, almost all students at undergraduate (and part-time MBA) level come from Hong Kong.

What type of person is the department most likely to pick? "Most of our students come through JUPAS and the criteria are performance and language skills. We're looking for the top students, whose objective is to train as future business leaders."

Where next?

More than half of HKUST's accountancy graduates end up working with the "big four" accountancy firms, often following university-organised internships. "We have been working very successfully to develop internships, which give mid-university experience at the big four or big regional accounting firms," says Prof Biddle. "This gives them a real advantage in job placement."

Today, the "big four" are increasingly hiring people with a broad view, who understand business models. They welcome fresh graduates with a knowledge of marketing strategies, business models and operational plans, rather than narrow specialists.

"Today, employers want the right skills," Prof Biddle says. "You've got to have cutting-edge knowledge and communication, leadership and language skills. If you want to participate in the global economy, you've got to have everything. Employers want someone who can start on day one and be not only technically skilled, but also able to go to a client and have views, make presentations, write memos - and hit the ground running."

No limits

Students should not, however, be anxious that specialising in accountancy is a limiting factor. "Every student has to take on all the other skills, to get the full view," he explains. "HKUST's required electives mean that you have to take courses in humanities and sciences, for example, which is very far-sighted."

"Students come [here] from an educational experience where they haven't been encouraged to speak out or ask questions," he continues. "We're very interactive, using case studies, group presentations and group projects, and students interact in class."

HKUST students are also obliged to hone their communication skills. Thanks to popular demand by employers, a required course in communication skills has been built into the business school curriculum which covers English and Putonghua skills. In addition, the "writing and speaking through the curriculum" second-year programme requires almost every undergraduate at HKUST - and that includes accountancy majors - to write an assessed assignment.

Course information

A regionally-unique business school Although the Hong Kong University of Science and Technology (HKUST) is only 12 years old, its business school comprises six departments and already ranks among the top in the world. How come? "The [140-strong] faculty here is remarkable - roughly half is from the top 20 US universities, plus Oxford and Cambridge," says Professor Gary Biddle, head of HKUST's accounting department. "This is unique in the region, so it's a stunning achievement." In addition, not only has the Financial Times rated the business school number one in the world in international terms, as it represents 17 nationalities on its faculty, but it is also the only university in Asia with course accreditations from both (American) AACSB International and (European) EQUIS. Today, HKUST's business school offers a large choice of programmes in accounting, economics, finance, information & systems management, management of organisations and marketing which range from undergraduate to taught and research graduate degrees and MBAs. The business school also offers a joint Executive MBA programme with the Kellogg School of Management of Northwestern University and is very active in mainland China, offering a joint EMBA in Beijing and a part-time MBA in Shenzhen. It is therefore no surprise that HKUST boasts Asia's largest international student exchange network for undergraduate and MBA programmes. "This year, we're at a point where [there are] 250 exchange opportunities for undergraduates and a third of our students can go on exchange," says Prof Biddle. "Employers love it! They stand in line to get these students, who have better language skills, are more worldly and gain all those dimensions [from living] in another country." "The HKUST business school is unquestionably the premier business school in the region. This means that Hong Kong has attracted enormous talent with this institution, giving its students and the professional community access to one of the best in the business," he adds. "As a result, Hong Kong students get incredible opportunities to learn at one of the top business schools in the world with top researchers in the world - locally in Hong Kong!" he says. "As we put it, what prepares students best for career success is global perspective and global understanding."

Taken from Career Times 2003/07/25