Accounting Scholars Program (ASP)

The aim of the Accounting Scholars Program (ASP), which was launched in 1999, is to expand students’ networking opportunities, strengthen their personal and career development, and help them to realize their full potential.

Only the best selected

ASP is designed for bright students who are able to balance academic excellence with whole-person development. The selection process for every ASP cohort is rigorous and competitive, and the door is open only to high achievers. In 2013, just over 30 students were selected for ASP, a small proportion of the total number of accounting students. Students who apply for ASP must have a minimum GPA of 3.20 and must undergo two rounds of interviews. Once admitted to the program, students receive training in a variety of workshops and seminars, and also attend consultation sessions. ASP participation teaches students to be versatile in career planning. They also learn business etiquette, with members required to attend “tips on dressing” workshops, wine-tasting events, and golfing activities. They are also instilled with an strong implicit business sense.

Nurtured by alumni and mentors

Mentors play a key role in ASP. Alumni and other professionals serve as mentors, providing guidance and support to students. Students are groomed to better manage and further develop their learning skills, improve their academic performance, and attain their career goals. In short, students selected for ASP are molded by experienced coaches, thereby furthering their professional development and personal growth.

ASP’s success depends not only on the qualities of the students selected, but also on its well-established alumni network, which includes professional managers, many at the senior level, including Chief Financial Officers, other high-ranking professionals, and even celebrities. ASP members have numerous opportunities to interact and benefit from their relationship with these highly experienced mentors.

Mentors often inspire students to implement better career planning. Spending time and interacting with mentors helps students to evaluate their own personal situation, identify the challenges that lie ahead, and put in place plans to overcome those challenges. The topics for discussion are broad, ranging from study- and career-related matters to life in general. ASP members benefit greatly from the experience and views of their mentors, and it is hoped that they will subsequently adopt a positive attitude toward their own decision-making process.

Making up for a lack of family support

ASP enhances the skills of all students, and offers additional assistance to students who do not excel in open exams or who are financially disadvantaged when they enter university or lack adequate family support. ASP helps these students to develop their learning potential with the help of alumni and other professionals.

Commendation by employers

Eighty percent of students who join ASP are recruited by Big-4 accounting firms, a much higher Big-4 placement rate than that among non-ASP members.

Employers hold ASP members in high regard, as they are seen as particularly hardworking and proactive in the office, proof positive that the program not only trains up bright students but also molds them into real professionals.

The post-90’s experience

Absenteeism, a preference for leisure over work, a desire for promotion, and lack of regard for managers and supervisors are some of the negative features of the recent cohort of post-90’s accounting professionals. The root cause of such negative characteristics is a mismatch between expectations and reality.

Those who want a relaxing life need not apply

David Yip, an ASP Leader and Senior Teaching Fellow in the Department of Accountancy, has taught accounting for many years. In recent years, he has seen increasing numbers of accounting graduates who are not prepared to work hard and put in long hours. Mr. Yip stresses that success comes from hard work, not merely from chance.

To be competitive, accounting professionals must be modest and avoid making mistakes. Accounting work is extremely demanding owing to the need to prepare documents that comply with the law and accounting regulations. The Closer Economic Partnership Arrangement (CEPA) agreed between Hong Kong and mainland China in 2003 means that young professionals can seize opportunities to participate in multinational projects on the mainland. Doing so, however, requires hard work and dedication.

Polarization effect

Mr. Yip has also noticed a recent trend that he has dubbed the “polarization effect,” which refers to wider than usual disparities in character and academic performance among students. In the past, he said, there was a relatively small gap between the best and worst performing students, but that gap has widened of late. On a more positive note, however, Mr. Yip has also noticed that today’s students are more flexible and adaptable compared to their predecessors, and are also faster learners.