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William Paton’s plaque at Ross, September 20, 2024, by Ayaan Shah.
Alumnus, Professor, Industry Leader
Alumnus, Professor, Industry Leader
by Ayaan Shah
University of Michigan alumnus and professor William Andrew Paton is a leading figure in the accounting world. His work in teaching, research, and theory of accounting modernized the field, which is how a transformative accounting center in the Ross School of Business got to be named after him (“William Paton Biography”).
Born July 19, 1889 to teachers near Calumet, Michigan, Paton earned his Ph.D. in economics from the University of Michigan in 1917 ("William Andrew"). Paton taught at UM from 1914-1959 (“William Paton Biography”), with the exceptions of 1916-17 at University of Minnesota, University of California Berkeley in 1937-38, and in 1939-40 when "he was the Dickinson Lecturer at Harvard" ("William Andrew"). Also while on leave from UM in the 1918-19 academic year, he served the U.S. in the "Bureau of Research and Statistics, War Trade Board, and later as Chief of Special Assignments, Income Tax Unit, Bureau of Internal Revenue" ("William Andrew"). In 1927, he also became a certified public accountant ("William Andrew").
During his tenure, he wrote "more than 20 books and 200 articles and monographs" ("About"), founded the "oldest scholarly journal in accounting," was editor of a "widely used source book for certified public accountants" (CPAs) (“William Paton Biography”), and co-founded the American Accounting Association (where he is in their Hall of Fame) ("William Andrew").
In 1976, the Paton Center was built and named after Paton ("100 Years"). UM also has a scholarship named in his honor. In 1987, Paton was honored as the "'Educator of the Century' by the American Institute of Certified Public Accountants" (“William Paton Biography”).
Wolverine blood runs deep in Paton's family. His wife Mary K. Sleator Paton is an alumna, as are their children, who both went on to teach at the university level. He even celebrated his 100th birthday at UM with 200+ "former students, friends, and colleagues" in attendance ("William Andrew").
Paton (1976) at UM by a sign to the Paton Accounting Center. Photo courtesy UM Ross.
Paton Center sign at Ross, September 20, 2024, by Ayaan Shah.
With a PhD graduate research program ranked first in the country and an accounting doctoral program ranked fifth ("Home"), learning about accounting at the Paton Center is one of the most rewarding places to do so. The Paton Center primarily focuses its activities on education and research in areas like financial reporting, managerial accounting, taxes, and analysis of financial statements. The Paton Center also holds conferences to ensure their ties with large accounting firms stay strong so they can continue to get funding for new research (“About”).
William Paton's name seems fitting for a man known for leading change in the world of accounting. The surname Paton is of English origin and means “fighter’s town,” according to The Bump. Ancestry.com add that it is also a "patronymic form of the name Patrick" meaning "son of" or "belonging to" Patrick, which, in turn, means "noble." The given name William comes from the German words willo, meaning "will" or "desire," and helm, which means "helmet" or "protection" ("William").
Paton’s work in accounting has been memorialized through the naming of the Paton Center in his namesake. Through his research breakthroughs, theory improvements, and teachings to students, the Paton Center stands to continue his work and help students follow in his footsteps.
Photo of William Paton, courtesy American Accounting Association.
Works Cited
"100 Years of Impact." UM Ross School of Business, University of Michigan, 2024, michiganross.umich.edu/about/100-years Accessed 3 Nov. 2024.
“About.” Paton Center, University of Michigan paton.bus.umich.edu/about. Accessed 23 Sept. 2024.
“Home.” Home | Paton Center, paton.bus.umich.edu. Accessed 3 Nov. 2024.
Photo of William Paton. In "William Andrew Paton." American Accounting Association, n.d., aaahq.org/Accounting-Hall-of-Fame/Members/1950/William-A-Paton
Shah, Ayaan. Photo of Paton Center sign, 20 Sep. 2024. Author’s personal collection.
Shah, Ayaan. Photo of William Paton plaque, 20 Sep. 2024. Author’s personal collection.
“William.” Behind the Name, behindthename.com/name/william. Accessed 23 Sept. 2024.
"William Andrew Paton." American Accounting Association, aaahq.org/Accounting-Hall-of-Fame/Members/1950/William-A-Paton Accessed 3 Nov. 2024.
“William Paton Biography.” William Paton Biography | Paton Center, paton.bus.umich.edu/about/william-paton-biography. Accessed 23 Sep. 2024.
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