FASB's Linsmeier Offers Insight and Advice to School of Business Administration Students
- By Array
Dr. Thomas J. Linsmeier, a Financial Accounting Standards Board (FASB) member, visited the University of Vermont School of Business Administration earlier this month to interact with undergraduate and graduate accounting students, as well as local business leaders.
During his two-day visit, Dr. Linsmeier spoke with Master of Accountance (MAcc) students during a special meeting, lunched with faculty and undergraduate and graduate students, presented a standard setting overview to members of the local business community and enjoyed a working breakfast with a combined class of undergraduate accounting students.
“I really liked that (Dr. Linsmeier’s) presentation was more of a dialogue than a presentation,” said Shannon Muldoon, a Business School undergraduate student. “I found his career advice most useful. Most presenters tell us to be successful you have to be passionate about what you are doing, but his advice on embracing change in addition to passion is something I feel we can actually apply.”
“I think (Dr. Linsmeier) is one of the best speakers I have heard from during my time at UVM,” said Eric Baral, a Master of Accountancy student. “I really enjoyed his talk about the boom and bust cycle. I also enjoyed how he challenged us to think outside the box when assessing our career thoughts and to view every situation as a potential learning opportunity.”
“He was incredibly open about the FASB’s processes and challenges, directly responded to every question asked by our students, and willingly committed a lot of time to the UVM community,” said Dr. Glenn Walberg, of the School of Business Administration. “I believe everyone was impressed by the knowledge and candor he exhibited throughout each session on campus.”
“Having Tom Linsmeier on campus, talking directly to students, provides them with insights into how financial accounting standards are developed, and the difficulties standard setters face as they work to resolve conflicting points of view that are impossible to capture through reading a textbook or other materials,” said Dr. Susan Hughes, director of the MAcc program at the School of Business Administration. “He illustrated his advice with his personal experience of the time he was at the SEC and spent a year learning all there was to know about derivatives. The knowledge he gained led to a two-year appointment at the Commission, and his current reputation as an expert in the area of derivatives.”