The Thomas J. Burns Seminar provides an excellent opportunity for students to expand their knowledge and endeavor new experiences. Approximately 65 undergraduate students from universities across the nation represented their local Beta Alpha Psi chapters at North Carolina A&T State University in Greensboro, North Carolina on the weekend of October 3-5, 1997.
Ohio State Professor Thomas J. Burns established the National Student Seminar in an effort to expose
students to accounting through research, writing, and discussion. The goal is to allow students to look
at accounting in an in-depth way that is not always possible in normal course work. By writing papers,
participants were involved in the research and writing processes before arriving at the seminar. During the seminar, the focus was to discuss the topics researched.
Their topic of discussion focused on Statement of Financial Accounting Standards (SFAS) 121, "Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of." Each student was assigned either a pro or con side of various topics related to asset impairment. Two of the issues debated included whether or not management should use events or changes in circumstances as indicators that an impairment assessment is warranted for certain assets and whether or not the criteria used to determine the recognition of an impairment loss should depend on the asset in question. The discussion sessions enabled students not only to share their own views, but to also hear views from a different perspective.
The seminar provided an opportunity to meet with students from across the nation not only on an
educational level, but on a personal level as well. Students were able to meet new people and experience the culture of Greensboro, North Carolina.
Not only did students have the opportunity to expand their knowledge base on asset impairment, but
they also made valuable contacts with peers and professionals.
