Stacy A. Mastrolia

Millennials: What Do We Really Know About Them?

Abstract While there are many articles in the popular press and practitioner journals concerning the Millennials (i.e., who they are and what we need to do about them), the academic literature on the subject is more limited. This chapter (1) extensively reviews this literature as published in practitioner, popular press, and academic journals across disciplines including psychology, sociology, management, human resources, and accounting education, and (2) surveys the generational study literature to determine what, if any, rigorous empirical studies exist to support (or refute) the existence of a distinct Millennial generational cohort. While the popular press is voluminous when it comes to avowed generational differences between Millennials and their predecessors, there is a paucity of peer-reviewed, academic, empirical work in the area and most of the latter suffers in some way from the overarching problem with generational research: the linear relationship between age, period, and generation that results in these variables being inherently entwined. However, even absent strong empirical evidence of a unique generational cohort, the literature offers extensive suggestions about what to do about the Millennials in our classrooms and work places. This chapter better informs accounting faculty about the traits of the current generation of accounting students that are supported by empirical research versus claims made in the popular press. It argues for a more reasoned “continuous improvement” approach to Millennials while offering some classroom suggestions for accounting faculty members.

Second Chance Homeless Shelter: A Fraud Exercise for Introductory and Survey Courses in Accounting

Abstract Purpose This exercise should make apparent to introductory accounting students the importance of internal controls both as a deterrent and as an early detector of fraud. We use the fraud triangle (PCAOB, 2010) framework to help students understand and evaluate this fraud. We believe completing this exercise will give students a better understanding of fraud in general, the fraud triangle, and internal controls and their use in preventing and detecting fraud. Methodology/approach This exercise presents an actual embezzlement committed by a long-tenured employee of a local not-for-profit organization. Each component of the exercise contains a series of questions to facilitate classroom discussion. Findings Student surveys confirm that students learn about detecting and preventing fraud. Students also indicate that they find the not-for-profit setting interesting and would use the principles in the exercise if they become affiliated with a not-for-profit organization. Originality/value To our knowledge, this is the first fraud exercise directed at educating students in introductory and survey courses in accounting where students likely have only a minimal understanding of accounting and internal controls.