He received a BSE in industrial engineering in 1962 from the University of Michigan, and MBA degree with high distinction in 1963.
In this MBA program he encountered William A. Paton and took courses from Stephen A. Zeff and Samuel R. Hepworth.
In 2000, Demski was one of three inductees to the Accounting Hall of Fame, a program hosted by Ohio State University which honors top academics and practitioners nation- and world-wide.
He is one of the most widely cited authors in the accounting literature and many of his papers have been awarded national prizes for their importance and influence.
One of his first papers, "An Accounting System Structured on a Linear Programming Model," won the 1967 AICPA Award for Outstanding Contributions to the Accounting Literature and 3 years later, another paper, "The Use of Models in Information Evaluation" (written with his former colleague Gerald Feltham), captured the same award.