His interest in accounting started with a love of statistics. “I enjoyed keeping stats about the Chicago Cubs when I was a youngster,” says Wyatt, who grew up in Aurora. “I later got my nose in the bookkeeping and accounting books my dad had around the house.” In high school, Wyatt got some practical experience. His accounting teacher, who was also the bookkeeper for the 45 student organizations, enlisted Wyatt’s help during his junior year. “He told me that he knew I could master the course material quickly, so he suggested I come to class three days a week and go to his office two days a week to keep the books for these student groups.” Later that year, he arranged for Wyatt to teach accounting to a local businessman who wanted to have
these skills to enhance his business. That set the course for Wyatt’s future, one that involved accounting and teaching. After earning his bachelor’s degree, Wyatt was encouraged to pursue his master’s degree by Cecil (Tee) Moyer, an associate professor who in 1953 would become the first head of the new Department of Accountancy. “I originally wanted to go into public accounting, but I was urged to stay. In 1949, I was just 21, but half my class was 26 or 27 because they were back in school after serving in the war. At the end of the first semester, I told Tee, ‘This is all backwards. You should pay me to do the graduate work not the teaching. I’d do the teaching for free.’ I absolutely loved teaching and did it until 1966. It was incredibly satisfying.”
Wyatt was either taught by or served on the faculty alongside many of the top names in the profession: A.C. Littleton, H.T. Scovill, Lloyd Morey, Norton Bedford, and Robert Mautz, for instance, all of whom have been inducted into the Accounting Hall of Fame. Wyatt was selected for that honor in 1998.
ADvAnCIng ACCOuntIng Wyatt earned his PhD at Illinois in 1953, served in the U.S. Army from 1955 to 1957, and then returned to campus to teach. “I was walking up Wright Street through the library to come to David Kinley Hall, and I ran into Norton Bedford,” says Wyatt. “He said: ‘Art, you’re just the guy I’m looking for. Ken Perry and I have an advanced accounting book that’s very far along,
and we just don’t have the time to get it finished. Can you join us?’” Wyatt humbly says his association with “that great book is because I had time available to help it get finished.” He credits Bedford and Perry for the success of Advanced Accounting: An Organizational Approach. “Norton was a top professor and scholar. Ken was beloved by everyone who ever took his class, and he wrote most all of the chapters. I was a hanger-on who got to be part of it. It was a lot of fun.” That fun extended beyond the work as well. Wyatt recalls the 1950s as an especially significant time in both the growth of the department, its reputation, and its collegiality. “There was a wonderful group of professors who enjoyed a lot of things together, including bowling, handball, and poker.”
He mentions colleagues Vernon Zimmerman, Don Skadden, who was also the mayor of Urbana, Phil Fess, Bob Schlosser, and Perry as “part of a closely knit group all working toward the same objective” of expanding and improving professional accounting practice. In 1997, Bedford wrote in A History of Accountancy at the University of Illinois at Urbana-Champaign, “Illinois faculty leaders most involved in this expanded role were Professors C.A. Moyer, R.K. Mautz, and certain younger faculty including D.H. Skadden and A.R. Wyatt. Professors Skadden and Wyatt showed great promise. They helped create an atmosphere in the Department conducive to the expansion of the academic role of accounting faculty members.”
OppOrtunIty KnOCKS In 1966, Wyatt joined Arthur Andersen & Co. and began a second phase of his career. Bedford, in his recounting of Illinois accounting history, called the departure “a significant loss for the Department.” But it was also the profession’s gain. Wyatt became a partner in just two years. He led the firm’s accounting principles group and established a reputation for independent thought and sound judgment. In addition, he contributed to the profession through service to the American Institute of Certified Public Accountants, the Financial Accounting Standards Board, the American Accounting Association, and the International Accounting Standards Committee. He is widely credited with establishing the foun-
dation for a new era of international cooperation in the development of accounting principles. “Andersen was a great organization with wonderful people,” Wyatt says. “There was never a day that I went to work at Andersen or at the University that it wasn’t a wonderful day. The work was totally different, of course. But whether you’re interacting with students or professionals, you need a similar skill set.” So when Wyatt retired from Arthur Andersen & Co. in 1992, he brought that skill set back to the College, serving as a professor for ten more years. As he looks to the future of business, he says while it’s hard to predict where technological advancements will take us, success is likely to require specialization.
“I would encourage today’s students to find what they like and become expert at it. If that’s accounting, great. If it’s computer science, fine. The world is looking for people who have expertise.” Our College of Business, says Wyatt, is a great place to hone your skills and develop that expertise, especially in accounting. The department has had a long history of excellence, and the leadership of Davis continues that strong tradition, he says. “Students in accounting at Illinois receive an excellent foundation and have tremendous opportunities. It’s essential for the students and for the profession that they take advantage of those opportunities and build on them.” Cathy Lockman
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Dorothy Litherland (above) becomes the first woman at Illinois to receive a PhD in accountancy. She later becomes a professor in the department and then serves as associate dean of the College.
The accountancy program, part of the Department of Business Organization and Operation, becomes a separate department.
The First International Conference on Accounting Education (above) is held at the University of Illinois with attendees from eight countries.
The Center for International Education and Research in Accounting is established, becoming the first Center of its kind.
The Department of Accountancy holds the distinction of being the largest in the nation.
The first four courses in information systems are introduced in a joint effort between the Accountancy and Business Administration departments to train students in this new discipline.
The MS Taxation Program is established, largely due to the efforts of Eugene Willis (above photo of 1980s faculty, top row, far left).
Project Discovery becomes the official curriculum for all accountancy majors in the College. It takes a project- and issues-based approach rather than a topics-based approach.
The Center for International Education and Research is renamed for Vernon K. zimmerman (above), professor, Center director, and former dean of the College.
Over the course of 100 years, tens of thousands of students graduate with bachelor’s degrees, master’s degrees, and PhDs in accountancy.
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Photo credits: Center: Image 6149 courtesy of the University of Illinois Archives. Right: Image 6145 courtesy of the Champaign-Urbana News-Gazette.
College of Business I University of Illinois at Urbana-Champaign
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