The Rice Thresher (Houston, Tex.), Vol. 77, No. 2, Ed. 1 Friday, August 25, 1989 Page: 4 of 20
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4 FRIDAY, AUGUST 25, 1989 THE RICE THRESHER
Zeff honored nationally by peers
by Kurt Moeller
On August 12th in Honolulu,
Professor of Accounting Stephen A
Zeff received the Accountant of the
Year award at the annual meeting of
the national accounting fraternity,
Beta Alpha PsL Yet when asked
about the award, he was more inter
ested in talking about another honor
he recently received—being named
as one of three people for a newly
created position supervising a na-
tional auditing standards board
The Accountant of the Year
award is given annually to one educa-
tor, one accountant in industry, and
an accounting firm. BetaAlphaPsiis
open to students majoring in ac-
counting at the undergraduate and
graduate level but only has chapters
in places where there is an under-
graduate accounting major. There
are more than 300 chapters, said
Zeff.
Local chapters choose nominees
for this award from their alumni.
Two years ago, the University of
Michigan chapter gave Zeff an award
as its accountant of the year, as had
the University of Colorado the year
before. Zeff received a B.S in 1955
and an M.S. in 1957 from the Colo-
rado and received an M.BA in 1960
and a Ph.D. in 1962 from Michigan.
Zeff was aiso named as one of
three public members appointed to
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The Houston Symphony invites
you to take a break from class to come hear the
exciting performances of the 1989/90 Classical
Season at a great price!
The Assignment:
■ Just come to the Subscriber Services window at
Jones Hall no earlier than 15 minutes before
the concert you wish to attend.
■ All concerts on Saturday and Monday at
8:00 p.m., Sunday at 2:30 p.m.
■ Please bring your current valid I.D. (2 seats per
I.D.). Seating at the discretion of the Box Office,
subject to availability.
For information on concert schedules and ticket
availability, Call 227-ARTS.
Back to School Special
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the planning committee of the audit-
ing standards board of the American
Institute of Certified Public Account-
ants. The first meeting of the steer-
ing committee is early next month in
Washington, D.C. It vol advise the
board on the issues it should ad-
dress.
A recent report to Congress by
the acting inspector general of the
Department of Labor was behind the
creation of the positions.
The report raised questions
about the usefulness of independent
audits performed on private compa-
nies'pension plans. "I'm not sure the
auditing is really doing its job," said
Zeff.
Almost $1 trillion in retirement
assets are guaranteed by the Pen-
sion Benefit Guaranty Corporation, a
quasi-private agency.
"The question is, are these assets
being competently managed?" said
Zeff, noting that they included huge
companies' pensions containing bil-
lions and billions of dollars of assets.
So far evidence is that pension
plans in large companies are being
managed conservatively, perhaps
too much so.
Some observers have said that
should large pensions fail and the
government be forced to step in, it
would make the $166 billion savings
and loan bailout seem miniscule.
This is an extremely important
subject, just like the savings and
loans," stated Zeff
Professor of Accounting Stephen A. Zeff
Surprising shift in AP policy on credit
Advisors not forewarned of change
by Bill Stevens
In a move taking many students
and faculty advisors by surprise, the
Registrar has declared that all new
students may not take a class for
which they have Advanced Place-
ment credit In the past, students
were allowed to take such classes
and have those grades count to-
wards their GPA The change was
announced by Registrar James G.
Williamson in the packet of materials
student advisers received and reiter-
ated at their academic advising
meeting Sunday.
Williamson said the Committee
on Examinations and Standing had
aproved the change over the sum-
mer. Yet when he heard about this,
Richard Floyd, secretary for the
Commitee on Examinations and
Standing, "was shocked." He said
that he had not missed a meeting in
three years, even during the sum-
mer, and "[the committee] never
discussed it at alL"
"Normally thafs the kind of thing
we'd always handle," said a surprised
Floyd. "I cant understand where it
came from."
Hanszen College President Nick
Shannin stated "This is laden with
problems" because of lack of "fore-
warning." Though suportive of the
idea, Shannin criticized the timing of
the change, which came after the
May AP exams costing $55 or more
each. Neither the 1989-90 General
Announcements nor this fall's news-
paper "Schedule of Courses Of-
fered" announces the policy change.
Not even all faculty advisors knew of
the change, he said.
"The reason [for the new rule] is
very obvious and necessary," said
Shannin. He said a student who
received AP credit obviously knew
the material and "it's these students
who blow the curve and waste the
professor's time."
Hanszen junior Sam Johnson dis-
agreed with the new policy. While he
saw raising the GPA as a big reason
for taking such a class, he felt
"maybe they [classes] are a little
more thorough here." He said that
his AP Calculus classes had not pre-
pared him for Differential Equations
like Rice classes would have.
Because of the confusion caused
by the policy, students can appeal it
"Any student should get permission
from the Committee on Examina-
tions and Standing if he feels
strongly," Shannin said, emphasiz-
ing that he was only repeating what
the registrar had told him.
To do so a student must file a
letter with that committee explain-
ing the situation. Having his faculty
advisor also sign it, stating he was
unaware of the change is not neces-
sary but would be a "big help" in
seeing the request granted, said
Shannin.
Shannin repeated his support for
the rule, depsite the problems it will
cause. "It's a good rule . . . but it
should"ve been phased in."
Here we go again
Dr. Rupp speaks to the over 600 new students who matriculated at Rice on Tuesday.
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Kahn, Greg & Leedy, Sarah. The Rice Thresher (Houston, Tex.), Vol. 77, No. 2, Ed. 1 Friday, August 25, 1989, newspaper, August 25, 1989; Houston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth245725/m1/4/?q=%22%22~1: accessed June 27, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Rice University Woodson Research Center.