Abstract Magazine Fall 2022

ABSTRACT

Accounting Magazine

THE ABSTRACT Accounting Magazine

MESSAGE FROM THE CHAIR 02 MESSAGE FROM THE MACC DIRECTOR 04

MESSAGE FROM THE CHAIR

Dr. Oksana Kim

Dear Friends of the Accounting and Business Law Department,

MEET THE FIRMS

I hope this newsletter finds you well. It is hard to believe that the Fall 2022 semester is almost over. It was a very fast run according to the testimony of students and faculty members alike. Our campus returned to normal operations and crowds of students and visitors made us feel as if the pandemic never happened. This semester we welcomed three new faculty members – Ms. Tasia Winrow, Dr. Juan Wu, and Dr. Katheryn Zielinski – and it is my hope that they enjoyed their first semester as part of our accounting program. With immediate impact, the three outstanding faculty members assisted us with student advising, participated in College initiatives, and contributed to various campus committees’ activities, including the MavPASS program, a peer-facilitated support system for historically challenging classes, and the Art of Equity project, aimed at closing the underperformance gap for minority student groups. Please refer to page 7 and 8 in the faculty news section to learn more about background and inspirations from our new faculty members.

I am glad to report that the student engagement that was lacking during the pandemic years has been steadily improving and that our student organizations have witnessed an increase in membership as well as students’ participation in their activities. Our chapter of Beta Alpha Psi (BAP) achieved a Superior status. This honor is awarded to a few BAP chapters nationwide for the outstanding professional development hours, community service hours, and active involvement in regional and national activities. The chapter leader is Professor Sean Fingland, who has also been named as the Eide Bailly Faculty Fellow this fall. This fellowship was made possible thanks to the generous gift of our longstanding accounting partner, Eide Bailly.

Our accounting undergraduate enrollments rebounded and improved slightly this fall, which is another indicator of success for our program. The Meet the Firms (MTF) event in September was a great success with approximately 50 employers, including several new ones, participating and subsequently hiring our students. According to the testimony of the participants, our MTF event stood out among other similar events organized by the business schools in Minnesota. Dr. Byron Pike also hosted the Accounting Advisory Council meeting on campus and received important feedback regarding the limitations and future directions of the accounting program, which we are now utilizing as part of our strategic planning.

We have exciting plans for the near future. To ensure that our students have access to flexible degree completion options and quality education, the department is planning to launch a new MAcc certificate in assurance services, an accelerated accounting undergraduate certificate, and an undergraduate certificate in business law in the Fall 2023. These

certificates should bring more options to diverse student groups as well as officially reward students for their effort in a particular educational niche. We are closely following the developments of the CPA Evolution initiative and have been refining our accounting curriculum based on the new expectations of the profession. Incorporating data analytics skills into our core accounting courses is a priority. We have collaborated with Becker CPA and are incorporating their CPE webinars on emerging accounting topics, such as ESG and CSR, into the graduate program curriculum. Importantly, we started the search and hope to hire a new assistant professor in Business Law, as our long-serving faculty member, Professor Vicki Luoma, has announced her retirement in May 2023. Overall, there is a lot of work for the remainder of the academic year, and I am hopeful we will succeed.

My colleagues and I thank you for all the support and wish you great holidays!

Warm regards, Oksana Kim, Ph.D., FCCA Chair, Department of Accounting & Business Law The Allen Lenzmeier Accounting Professor of Leadership & Diversity President, Midwest section, American Accounting Association

MESSAGE FROM THE MACC DIRECTOR

Dr. Byron Pike

Hello Accounting Alumni and Friends of the Program,

The best part of being an educator is the ability to positively influence individuals’ lives. I’m grateful that this impact is frequent, meaningful, and lasting within the Department of Accounting and Business Law and College of Business at Minnesota State University, Mankato. The drive and contagious desire to learn from our students is inspiration to all the faculty to provide challenging, high-impact learning opportunities throughout the curriculum. As part of our strategic planning process this fall, it was gratifying to hear from employers throughout the Midwest that our students are highly sought after and make immediate impacts once starting their professional careers.

Not unlike many disciplines, accounting is struggling to attract enough new entrants to meet the current and future needs of the profession. At Minnesota State Mankato, we are proud to say that we are taking an active approach to recruiting more individuals into accounting. We all know that accounting is an amazing profession with endless opportunities. More importantly, accounting professionals make meaningful contributions that positively impact organizations, clients, and society. We have a great story to tell, we just need to tell it more often and in front of more people. With the support of firms/companies, alumni, and the University, we are connecting with high school students, appealing to high performing introductory accounting students, and attracting more adult learners to accounting.

This intentional effort is already paying dividends. This fall the number of adult learners entering the Master of Accounting (MAcc) program as a transition to a career in accounting grew more than fivefold. To continue this momentum, we are proposing both undergraduate and graduate certificate programs that not only provide more avenues into the accounting discipline but also formalize the pathway for working professionals to become CPA eligible. We look forward to sharing more details regarding these opportunities in the future.

I hope you enjoy reading this edition of our magazine to hear of the happenings within the department, the success of our students, and the many engagement activities available to our students. We are excited about the future, which will include conversations and partnerships with you as we continue to promote and grow this profession. With your help, we truly can achieve our vision of being the clear business school choice for real-world learning experiences. Please feel free to reach out to me directly (byron.pike@mnsu.edu) if you are looking for help with recruitment or engagement opportunities, or wish to help support our students.

Go Mavs!

Byron

J. Pike, Ph.D., CPA

The Allen Lenzmeier Accounting Professor of External Partnerships Master of Accounting (MAcc) Program Director

MEET THE FIRMS IS BACK; IN-PERSON AND ON CAMPUS

At the beginning of every fall semester, the College of Business hosts its premier accounting and finance career fair for students: Meet the Firms (MTF). This event features public accounting firms, private industry companies, and government agencies that recruit students seeking professional careers in accounting and finance. Due to the pandemic, MTF was cancelled the past two years to protect the health and safety of students, faculty members, and visitors. MTF returned to the Mankato campus in the fall of 2022 and was the most successful event thus far, with nearly 50 firms/companies. Employer representatives from this record number of firms attending MTF were able to engage with over 200 Minnesota State University, Mankato students in attendance. This career fair provided students with endless opportunities to network and learn about the various companies that offer accounting and finance positions. Mark your calendars for the 2023 MTF's event: September 14, 1:00 - 4:00 pm. Please contact Samantha Campa (samantha.campa.2@mnsu.edu) if you would like to be added to the invitation list.

MINNESOTA STATE UNIVERSITY,

FACULTY & STAFF NEWS

Accounting Advisory Board Meeting

The Accounting and Business Law Department held its annual Accounting Advisory Board Meeting on September 15, 2022, prior to the Meet the Firms event. At the meeting, members were introduced and the department presented the current state of the accounting program. Members then engaged in strategic planning discussions in breakout groups. Highlights from this meeting include the following:

• College of Business accounting graduates are of high quality and in demand.

• CPA Exam pass rates remain one of the highest in the state of Minnesota.

• The council members discussed the trends shaping the accounting profession, which included the increase in remote work and how to incorporate a mix of remote and in-office work.

• Members indicated that any modifications to the Minnesota State University, Mankato business curriculum should emphasize IT, communication, problem-solving, and critical thinking skills.

• Council members suggested offering more accounting specific communication opportunities/ courses and educating individuals on the multitude of accounting opportunities beyond the auditing and taxation services.

The meeting concluded by introducing the Eide Bailly Faculty Fellow, Professor Sean Fingland, and the action items that he is considering related to the promotion, recruitment, and engagement of accounting students and the profession.

A

Advisory Council Members

special thank you to our Accounting

Introducing our New Accounting Faculty

The College of Business hired three new accounting faculty members this year. We want to introduce the new faculty, provide a background of their accounting career, and share why they chose Minnesota State University, Mankato.

Assistant Professor Wu just completed her Ph.D. in accounting, with an emphasis on taxation, from the University of Oregon. She has an undergraduate degree in economics from Central University of Finance and Economics and a Master of Accounting (MAcc) degree from the University of Iowa. Prior to returning to academia, Professor Wu worked as a financial analyst and investment manager. At Minnesota State University, Mankato, Professor Wu teaches taxation and financial accounting courses.

Professor Wu appreciates the collegial working environment at Minnesota State Mankato. When she started working and needed assistance, the faculty were very kind and always there to help. She appreciates the fact that the Accounting and Business Law faculty have the students’ best interests at heart and want to help students succeed and be ready for a wonderful future after graduation.

Professor Wu believes that accounting is a very practical discipline that provides the foundation for a long and successful career. She enjoys helping her students improve their financial literacy, which can benefit them even if they decide not to enter the accounting profession. Professor Wu finds it really rewarding when students can learn and understand the class material and then use other resources to explore content beyond the confines of the classroom. Outside of teaching, Professor Wu enjoys completing DIY projects around her house. She is currently working on remodeling her 100+ year old Victorian home, with help from others.

Winrow is the Emerging Teacher Scholar Fellow in Accounting and is currently enrolled in the Doctorate of Business Administration Program at the University of Wisconsin, Whitewater. She received her undergraduate and master's degrees in accounting from Winona State University. Prior to joining Minnesota State University, Mankato, Ms. Winrow worked in financial analyst positions at IBM and Mayo Clinic. Ms. Winrow teaches introductory accounting courses with an emphasis on increasing equitable outcomes.

Ms. Winrow chose the accounting field because she enjoys working with numbers and believes that accounting is akin to learning a new language. She believes that it is fun to try learning a new language and the challenge that comes with solving accounting problems. Winrow believes if you like learning, the accounting profession is for you. Accounting is not math and is constantly changing. There is something in the field for everyone!

Her favorite aspect of Minnesota State University, Mankato, is the strong community feeling that she gets when walking onto campus. In the classroom, Ms. Winrow gets excited and satisfied when someone is struggling with a topic and suddenly it clicks. She believes that the elation and relief on a student’s face is an amazing thing to see.

Outside of teaching, Ms. Winrow loves music, including singing and playing the piano. She is also teaching herself how to play the guitar. She is a huge movie buff and gamer and enjoys being in a fantasy world.

Assistant Professor Zielinski recently completed her Doctorate of Business Administration from the University of Scranton. She has an undergraduate degree in economics and a master’s degree in communications. Professor Zielinski’s professional work experience included analyst and management positions. Prior to joining the Minnesota State Mankato faculty, Dr. Zielinski taught at St. John’s University, Collegeville. She currently teaches financial accounting and managerial accounting courses.

Dr. Zielinski chose the accounting field because she had an extraordinary college professor who encouraged her to join the accounting profession and, ultimately, became an encouraging mentor for her. She enjoys and appreciates the positive atmosphere most in the College of Business. She recommends our accounting program because the amount of support and opportunities available to students is extremely impressive.

Regarding the classroom and teaching, Professor Zielinski enjoys meeting and getting to know her students every semester. Her favorite part about teaching is the positive energy surrounding students learning and comprehending complex accounting concepts.

Outside of teaching, Professor Zielinski is a semi-cyclist, semi-baker, and semi-crafter.

Introducing our New Accounting Faculty Accounting Hockey Event

The College of Business hosted the first ever accounting hockey event on November 5th, as the Maverick Men's hockey team played the University of St. Thomas. Over 150 accounting alumni, students, friends, and faculty enjoyed a pre-game social held at the Loose Moose Saloon followed by the game at the Mayo Clinic Health Systems Event Center. It was a great opportunity to network while cheering on the Maverick hockey team. We appreciate all those who were able to attend and support Maverick Athletics and the College of Business. The Mavericks beat the Tommies 4-3....Ole, Ole, Ole!

pre-game social held at the Loose Moose

FACULTY & STAFF NEWS

Faculty Research

When faculty members are not teaching, advising, or providing services to the University, they engage in scholarly activities that advance the body of knowledge in accounting. In many instances, this research also informs the faculty members’ teaching, creating a better learning environment in the classroom. Below are select 2022 publications of the faculty in the Accounting and Business Law Department. Feel free to reach out to the faculty members directly if you are interested in learning more about their research endeavors.

Baird, J., , and . (2022). Formulation Advances, Inc.: Revenue recognition issues in the pharmaceutical industry.

2022. On the dual role of foreign directors: New insights from the Russian boards.

Chui, L., Curtis, M., and . (2022). How Does an Audit or a Forensic Perspective Influence Auditors' Fraud-Risk Assessment and Subsequent Risk Response? and J. Post. (2022) Practical Strategies to Protect Corporate Trade Secrets and Avoid Misappropriation Claims. and (2022). ATS Sports: Analysis of Managers’ Bonuses.

Scholarship Recipients STUDENT NEWS

We would like to express our gratitude to the alumni, faculty, and friends for their generosity, continued support, and belief in our students. Join us in congratulating the students receiving the 2022/23 accounting awards and scholarships:

Francine Ndah, Tyler Studer

Hanbeen Kim, Alex Wittwer

Garret Winch, Madison Klingenschmitt

Maleia Ryberg

Jasmine Lamar

Lauren Reuter

Erin Luchsinger, Cassandra Thompson, Adbulaziz Mohamud

Cassandra FitzHenry, Lauren Reuter

Jack Ricord

Taylor Bhend, Victor Nguyen

Kassidy Sutherland-Whitmore, Courtney Bartz

Belen Diaz

Mark Strand

Emma Wolff, Michael Pennington Dashawn Gardener

Vy Huynh

Malika Seran

McKenna Nelson Madysen Pearson Badariah Umar

Naomi Fikresilassie, Riley Alcorn Jenna Pederson, Faith Garbers

Cieana Pleoger, Peyton Wadel

Max Schwabe

Gracie Peterson

David Badmus

Rebekka Jay, Rachel Luedtke, Jacob Prybylla, Alex Wittwer

Kossi Kavi

Kevin Perez

Kaltuma Hassan, Yuhi Sekine Katelyn Ertle

Joshua Makana and Derek Sime

Michaela Ausland-Peters

Patricia Werner Abdur Rahman

Atiqur Rahman

Congratulations to some of our new Certified Public Accountants (CPAs)

Graduates from the accounting program at Minnesota State University, Mankato have some of the state’s highest CPA exam pass rates. We want to highlight a few graduates who recently achieved this professional milestone and share their advice for current students as well as memories from their time at Minnesota State University.

Daseul grew up in Seoul, South Korea. She went to college in the Philippines and then transferred to Minnesota State University, Mankato to pursue a degree in accounting. Daseul currently works at COSMAX as a business manager. Her fondest memory from the accounting program at Minnesota State Mankato was the Annual Accounting Alumni and Friends Golf Event. She enjoyed playing her favorite sport while building her networking skills and learning more about the accounting field. Daseul’s advice for current accounting students is to be confident and never give up. Daseul struggled with the BEC section of the CPA exam, and the pandemic made it difficult for her to travel back to the United States to take the exam. She continued to try her best and never gave up, eventually passing with her highest score out of all four sections. Daseul changed her major from English to Accounting because of her passion for numbers. She appreciates the Minnesota State University, Mankato accounting faculty who helped prepare her to pass the CPA exam and become a professional business manager.

students for life after school and what it means to be a professional. Learning doesn't stop once you graduate, especially in accounting. Lance’s advice for current students is to learn as much as you can and take advantage of all the opportunities available to you. You may not end up liking them all, but at least you learn what your interests are and obtain valuable experience. Lance chose accounting because it's fun to be able to help people understand complex topics and make their lives a little easier.

Lance grew up in Eagan, MN. He currently works at Grant Thornton as a Tax Associate. Some of Lance’s fondest memories and lessons learned from the accounting program at Minnesota State Mankato include being able to work closely with professors and getting advice or help whenever needed. This stood out to him because it is often not the case at larger schools. Lance also enjoyed how hard the faculty work to make classes fun and interactive, rather than simply lecturing. He appreciated that the faculty did a great job preparing

Jack grew up in La Crescent, MN. He currently works at Grant Thornton as a Tax Associate in their Minneapolis office. Jack’s fondest memory from the accounting program at Minnesota State Mankato was the opportunity to work as a graduate assistant during the MAcc program. He was able to develop new skills that have directly benefited his career thus far. The advice that Jack has for current accounting students is to get to know the other accounting students as best you can. Having that sense of friendship and camaraderie with others made a huge difference for Jack, and especially helped while he was taking some of the more difficult accounting courses. Jack chose the accounting field because he has always enjoyed working with numbers. When he took his first accounting course and learned how debits and credits would always balance, it clicked in his brain, and he knew that this was the field in which he belonged.

CONGRATULATIONS 2022 SUMMER & FALL GRADUATES

BACHELOR OF SCIENCE IN ACCOUNTING

Sydney Anderson

David Badmus

Courtney Bartz

Cassidy Clifton

Logan Cluff

Ryan DeRoo

Rebecca Drummer

Nathan Dupre

Caleb Effertz

Danielle England Grady Gornick

Austin Harvey Braden Heavner

Alex Herman

MASTER OF ACCOUNTING

Forrest Carlson

Katelyn Ertle

Aaron Eversole

Ayren Ingvalson Kailee Jorgensen

Taylor Lowenberg

Amy Martin Amy Mathiowetz

Osee Mulumba Dylan Nelson

Jiwon Hyun

Thomas Jameson Caleb Johnson Cameron Johnson

Simale Kadir

Joel Korir Peter Pendergast

Madysen Pearson Jenna Pederson Megan Rinehart Trenton Sax Anastasia Schultz

Gracie Peterson

Jacob Prybylla Hayley Quinn

Kara Reitz

John Stachel Zarni Ye Tun Aaron Velander

Brea Watson Dylan White Yeeshai Yang Cole Zunker

If you are interested in exploring additional opportunities to contribute to Minnesota State, Mankato. Please contact Cathy Willette, Director of Development (Catherine.willette@mnsu.edu)

Cathy Willette joined the Minnesota State University, Mankato Foundation as the Director of Development for the College of Business in November of 2021. But if you ask her, she has always been a Maverick. Willette started her higher education journey as a first-generation student at Minnesota State Mankato in 1982. The Mankato resident is married and has three grown kids (all Mavericks as well).

Willette enjoys meeting alumni and learning of their Maverick stories. As she likes to say, “sometimes life’s journey takes you back home. Once a Maverick, always a Maverick!” Please reach out to Cathy if you are looking to start a conversation.

Jacob Schumacher

Maia Sierra Chandler Stortz Kassidy SutherlandWhitmore

Jenna Tekavec Spencer Thein Garret Winch Connor Yonak

Full-time Accounting & Business Law Faculty

Wade Davis, J.D. wade.davis@mnsu.edu 507-389-2207

Dr. Abo-El-Yazeed Habib abo-el-yazeed.habib@mnsu.edu 507-389-5408

Dr. Steven Johnson steven.johnson@mnsu.edu 507-389-2760

Dr. Oksana Kim oksana.kim@mnsu.edu 507-389-5411

Vicki Luoma, J.D. vicki.luoma@mnsu.edu 507-389-1916

Dr. Byron Pike byron.pike@mnsu.edu 507-389-6909

Dr. Kirsten Rosacker kirsten.rosacker@mnsu.edu 507-389-5413

Dr. Ferdinand Siagian ferdinand.siagian@mnsu.edu 507-389-5407

To learn more about the Accounting & Business Law Faculty or to get in touch go to cob.mnsu.edu/accounting-faculty

Sean Fingland sean.fingland@mnsu.edu 507-389-5388

Tasia Winrow tasia.winrow@mnsu.edu 507-389-5415

Dr. Juan Wu juan.wu@mnsu.edu 507-389-5412

Dr. Katheryn Zielinski katheryn.zielinski@mnsu.edu 507-389-5412