For the past week, students have been immersed in the fall three week. This highly-focused time is part of The Hiram Plan, which allows students to focus on one course topic, fulfill an internship off-campus, complete a research project or study abroad. For one accounting class, hands-on experience at the Hiram Inn allows completion of four accounting activities while using the facility to gain life-time experience towards future careers.
Accounting 226 allows students to learn and apply value stream mapping, which is a manufacturing technique used to analyze the flow of materials and information currently required to bring a product or service to a consumer. Teams of four to five people will value stream map four activities, laundry, housekeeping, reservations and kitchen, within the Hiram Inn. These hands-on, practical management accounting lessons will give students the opportunity to put their experience on their resumes, and will help students when looking for their first career opportunity.
Teams will research health requirements and laws issued by local, state or federal governing authorities. They will research the current reservation software utilized by the Hiram Inn, and they will research and compare credit card costs. They will value stream map the activity and estimate the costs of materials, people and expenses used within each activity or event. Teams will also identify opportunities to improve each overall activity, write up work instructions for each individual event within the value stream and will provide formal updates.
At the end of the three week, teams will present the above findings in a formal 30 minute powerpoint presentation to Anita Stocz (Director of the Hiram Inn) and Stephen Jones (Vice President for Business and Finance at Hiram College).
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For more information about economics, management and accounting at Hiram, click here.