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When the statement of changes in working
capital was published in the 1967 annual report
of Iowa Beef Packers,Inc., it contained a change
in the usual wording.
The change, although seemingly small, clarified
the meaning. And it was an example of one
of the early fruits of a unique program in accounting
now in its second session at the University
of Missouri at Columbia.
The new wording was one of the results of a
program that was designed to bring students in
the School of Business and Public Administration
in touch with professionals in accounting to
acquaint them with problems that had not yet
hit the accounting literature.
But the program — known as Accountants
in Residency — has done more. It has turned out
to be a benefit to both sides — to the student
and to the businessman.
The program was started in the last academic
year by Dr. Joseph A. Silvoso, chairman of
the Department of Accountancy of the School
of Business and Public Administration.
He initiated it after noticing that other
schools in other professional areas had a businessman
in residence whose job it was to acquaint
the students with the profession's current
University of Missouri