Jerry Leer Professor of Accounting Paul Fischer retired this year after 54 years at the helm of the classroom and UWM’s outstanding accounting program.
Fischer’s connection to UWM started early. He earned his BBA in accounting from UWM in 1965, before going on to earn his MBA and PhD from UW-Madison. In the fall of 1969, he returned to Milwaukee an Assistant Professor of Accounting. And as they say, the rest is history.
“Professor Fischer has been the driving force behind the accounting program at the Lubar College for decades, leading a team of accomplished faculty and building partnerships with accounting firms and companies, all with the goal of graduating top students to work as CPAs in the region and beyond,” said Dean Kaushal Chari at a fall celebration with alumni and business partners.
Under his leadership, the UWM accounting program has continued to build upon its long-standing reputation for exceptionally high standards, drawing top students as well as outstanding faculty. Notably, Fischer was instrumental in the Lubar College gaining AACSB Accounting accreditation beginning in 2016, elevating the regard for the program even further.
He worked tirelessly with alumni and industry partners to add unique elements to the program, said Chari, including the EY accounting study abroad program, the Deloitte Communications Lab, and the much-celebrated “Survivors Lunch” for students excelling in Intermediate Accounting and advancing to the major.
UWM Chancellor Mark Mone described Fischer “just spectacularly passionate.”
“We’ve been so incredibly fortunate to be the beneficiaries of all that you have done – not just for us – but for the scores of individuals and organizations who have experienced the care and quality that you have brought to everything you do,” Mone told Professor Fischer at the event.
Kudos from Accounting Alumni
Alum Jim Whalen (’79 BBA-Accounting) followed Fischer into academia and is currently a Professor of Accounting and the James R. Hodge Chair of Excellence at Indiana University’s Kelley School of Business.
At the celebration, Whalen said that Fischer’s most significant contribution over his long tenure has been in teaching multiple thousands of students.
“I was lucky to be one of those students in the lates 1970s,” he shared.
“It was Paul who inspired me to become an accounting professor,” Whalen said. “He gave a much younger me direction at a time when I desperately needed it. He was unfailingly encouraging in helping to guide me on this path. He showed me that it’s not only okay – but essential – to think critically, constructively, and creatively about the things you care about to make them better.”
Whalen added that Professor Fischer extended the impact of his teaching even further through the 12 editions of his Advanced Accounting textbook (originally co-authored by Bill Taylor and Jerry Leer). “That book manifests Paul’s ability to clearly explain and teach very difficult and complex accounting topics.”
Through the textbook, Whalen noted, Fischer has reached scores more students at business schools across the country while helping many accounting teachers by giving them great material to use to teach their own students.
Tom Linsmeier (’78 BBA-Accounting) was also inspired by Professor Fischer to enter academia. Linsmeier is now the Thomas G. Ragatz Accounting and Law Distinguished Chair at the Wisconsin School of Business and a past appointed member of the Financial Accounting Standards Board (FASB).
Linsmeier said that Paul Fischer “changed my life for the good.”
“First, he’s an outstanding teacher, just bloody amazing,” Linsmeier stated, followed by a healthy round of applause from other alumni in the room. “In his classroom, I came to the conclusion that accounting could be fun.”
Second, Linsmeier called Professor Fischer a “clandestine mentor,” mingling with students during class breaks and encouraging them to reach their potential. In Linsmeier’s case, Fischer saw his talents and persuaded him to major in accounting, and then to pursue a graduate degree. “He encouraged me to have the career I have had.”
“He has been here through the creation, development, and dynamic revisionism of this accounting program, which continues be a grand jewel of UWM – an amazing program that has rivals nowhere,” said Linsmeier. “I’m damn proud of being associated with him.”
The Man of the Hour
When it was finally time for Professor Fischer to speak, he put aside the remarks he had prepared, stepped into the crowd, and – instead of speaking about himself – acknowledged others who had been part of his success, including his “fantastic accounting faculty colleagues” and others who supported him and accounting students over the years.
“Of course, any success discussed here today has to include acknowledgement of Jerry Leer,” Fischer stated firmly. Leer, who was a member of the accounting faculty for 37 years until his retirement in 1985, had a profound impact on him as his professor, mentor, and colleague.
Professor Fischer also shared that he was especially proud that other accounting programs across the country have emulated UWM’s program, and that – with the program’s many industry partnerships – so much unique programming was developed to provide Lubar accounting students with the best education and experiences possible.
He closed his remarks with appreciation for his family – his son Marcus, grandson Bergen, and especially his wife and “better half” Carol, a great accounting teacher in her own right, who worked with him “behind the scenes” on materials for his courses and textbooks.
Professor Fischer — UWM, the Lubar College, and more than five decades of accounting graduates thank you for your exceptional commitment to excellence!
We wish you smooth sailing (literally) in your retirement!