Vadim Ovchinnikov, a second-year master of accountancy (MAcc) student from Russia, has been selected as one of six students selected to work with the Financial Accounting Standards Board (FASB) in 2001. Ovchinnikov is one of only a handful of foreign students and the first Russian to work with the board. He begins his one-year appointment as a technical assistant with the FASB in January.
“The FASB is the primary accounting standard setting body in the United States,” said W. Steve Albrecht, associate dean of the Marriott School at Brigham Young University. “Its standards must be used by corporations preparing financial statements and issuing annual reports. Because of its key role in the business community, a FASB appointment is one of the most prestigious positions an accountancy student can receive.”
The FASB selects six students each year from university accountancy programs in the United States. Ovchinnikov is the fourth BYU MAcc student in three years to work at the FASB, said Lee H. Radebaugh, director of the School of Accountancy and Information Systems.
“BYU’s record with the FASB is an indicator of the high caliber of students that go through our program,” Radebaugh said. “Our students are bright, articulate and highly thought of in the professional field.”
As a Postgraduate Technical Assistant, Ovchinnikov will be involved in all phases of project evaluation. His responsibilities will include reviewing and analyzing published research, preparing memorandums on technical issues, drafting due process documents and evaluating accounting proposals from other organizations.
“The MAcc program helped me gain wide exposure to accounting rules and practices,” Ovchinnikov said. “The courses I took have assisted me in understanding accounting issues more fully and will help me complete my responsibilities effectively.”
Radebaugh said Ovchinnikov is one of the top students in this year’s graduating class. After reviewing his resume, overall performance and his work experience in Moscow and Chicago, MAcc faculty members chose to send Ovchinnikov’s application to the FASB as BYU’s representative.
The School of Accountancy and Information Systems, part of BYU’s Marriott School, offers master’s degrees in accountancy and information systems. Public Accounting Report ranks the school’s master of accountancy and undergraduate accountancy programs third in the nation. The Marriott School is dedicated to educating men and women of faith, character and professional ability who will become outstanding managers and leaders throughout the world.
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Writer: Carrie Lundgren