Annual Report 2011-2012 by Miami University Department of Accountancy

Department of Accountancy ANNUAL REPORT 2011-2012

The Accountancy Annual Report is an annual publication of the Department of Accountancy for our alumni and friends. Department of Accountancy Farmer School of Business, Suite 3094 Miami University Oxford, Ohio 45056 Telephone: (513) 529-6200 Fax: (513) 529-4740 www.fsb.muohio.edu/acc Accountancy Support Staff: Susan Anderson, Administrative Assistant Debbie Gentry, Senior Administrative Secretary Gretchen Radler, Academic Program Coordinator Many thanks to the accountancy students, faculty, staff, alumni, and other partners for their assistance in the compilation of this report.

Looking Ahead, Moving Forward As you will read in this issue of our annual report, our students, alumni, and faculty are involved in many aspects of university life, the academy, our military, not-for-profit organizations, and the business world. Their accomplishments are impressive and we take great pride in all of the members of the Miami family and their contributions to society. You have undoubtedly seen in the media that higher education is coming under scrutiny by the government as well as by society in general. We are asked to become more efficient in order to keep higher education affordable and accessible. I believe that the request is reasonable and that all institutions should be held accountable for their mission. Students, their families, and in the case of public institutions, taxpayers, have invested in colleges and universities with the expectation that they provide the requisite educational experiences and cutting-edge research to keep our country a world leader that is competitive in a global economy. While attention to costs is important, we cannot overlook the critical nature of the quality of the educational experience as well. If lowering costs reduces the effectiveness of the educational experience, our graduates will no longer be competitors for the best opportunities in their chosen fields. This is a challenge that all universities now face. In order to meet this challenge and to ensure that the accountancy program at Miami University maintains its excellence, the faculty will engage in a series of strategic planning sessions this fall devoted to the challenges facing higher education and specifically its relationship to accounting education. One important consideration related to the future of accounting education will be the recommendations of the Pathway Commission, formed two years ago by the American Accounting Association and the American Institute of Certified Public Accountants. The Commission has representation from a broad range of accounting education stakeholders and its charge is to

consider how best to prepare students for the accounting profession they are likely to face in the future. It is expected that the final report from the Commission will be issued in the very near term. The Commission’s recommendations, the changing economic environment in higher education, the impact of technology on the delivery of higher education, and other key issues will form the basis for our strategic planning discussions. As educators at Miami, our mission is “to provide students with the life-long ability to seek and acquire accounting and business knowledge and translate it into responsible action in a competitive environment.” In order to fulfill our mission, it is imperative that we meet the challenges of a changing environment. I look forward to telling you about the results of our sessions and how we plan to meet the challenges we face in delivering excellence in accounting education that is both efficient and effective. If you have any thoughts you would like to share about the future of accounting education, please send them my way and I will be glad to share them with our faculty. As always, I want to thank all of our stakeholders for your assistance and loyalty, without which we could never accomplish our goals. I particularly want to thank Dean Jenkins for his energy and support as he completes his tenth year at Miami. We can look back and appreciate how the Farmer School of Business has flourished under his leadership and commitment to excellence. Have a wonderful summer and we hope to see you on campus soon. For love and honor,

Marc A. Rubin ‘75 PricewaterhouseCoopers Professor and Chair

Brian Campbell Partner, Tax KPMG LLP Beth Carlton Associate Manager, Internal Audit – Control & Analysis Progressive Insurance Robert Craycraft Director of Audit Cintas Corporation Paul Davison Partner, Assurance Services Ernst & Young LLP Donne Deye Senior VP/CFO Totes Isotoner Corporation Tony Dunn Planning, Analytics, and Risk Management The Cincinnati Insurance Companies Amy Geiger VP, Information Risk Management JPMorgan Chase Mike Hemsath Associate Director – Accounting Policy The Procter & Gamble Company Scott Homer Partner, Audit and Enterprise Risk Services Deloitte LLP

INTRODUCING OUR 2011-2012

Accountancy Advisory Group THE FARMER SCHOOL’S ACCOUNTANCY ADVISORY GROUP (AAG) IS AN IMPORTANT LINK WITH THE PROFESSIONAL COMMUNITY. COMPRISED OF 15-20 MEMBERS REPRESENTING PUBLIC ACCOUNTING, CORPORATE ACCOUNTING, AND ACCOUNTING-RELATED FIELDS, THE AAG PROVIDES ADVICE AND COUNSEL REGARDING THE CONTINUING DEVELOPMENT OF HIGH QUALITY ACCOUNTING PROGRAMS FOR OUR STUDENTS.

Chris Linck Partner, Audit BKD LLP Tina Mallie Executive VP & Head of Direct Markets Zurich Financial Services Group Heather Mills Senior Manager Crowe Horwath LLP Nicholas Quil Managing Director Hildebrandt Baker Robbins Tom Ritter VP – Capital Markets Derivatives Fifth Third Bank Scott Schweinfurth Executive VP, CFO, and Treasurer WMS Industries Inc. Terry Silver Partner, Tax Skoda Minotti Kendra Smith Senior Manager Grant Thornton LLP Daniel Staley Partner, Tax PricewaterhouseCoopers LLP

Miamiâ&#x20AC;&#x2122;s large network of diverse student clubs and organizations helps students to develop their leadership skills while still in school.

Reinvigorating Miami’s Accounting Mentoring Program MIAMI UNIVERSITY’S FARMER SCHOOL OF BUSINESS HAS A STRONG REPUTATION FOR PRODUCING SOME OF THE MOST SUCCESSFUL AND INTELLIGENT GRADUATES WHO LEAVE MIAMI TO ACHIEVE GREAT ACCOMPLISHMENTS.

have mentors (juniors and seniors) to whom they can turn for advice on careers, the accounting profession, classes, or professors. Groups are encouraged to meet frequently to discuss classes, jobs, sports, weekends, or any other topics of interest. The program is designed to be informal to allow each mentoring group to get as much as they want out of the program.

Miami’s large network of diverse student clubs and organizations helps students to develop their leadership skills while still in school. One such program, sponsored by the Department of Accountancy, is Miami’s Accounting Mentoring Program (AMP).

In addition to mentoring circles, the AMP sponsored a number of activities throughout the year for members to attend. For example, speakers were brought in from KPMG, PwC, and Ernst & Young. They discussed topics relevant to all class levels, such as how to make the best out of a difficult situation and how to build your own personal brand.

This past year, the program was given a revitalization of both members and activities. The program boasted 115 participants, consisting of mentors and mentees. Students do not have to be an accounting major to join; they just need to have an interest in learning more about the major and profession. Students are put into groups of about 5-6 members, called “mentoring circles,” based on their interests and availability. The groups are designed so that mentees (usually freshmen and sophomores)

Office visits to the Big Four accounting firms were planned in the fall and spring. These gave students an opportunity to see what the office is like and meet the people who work there. Students learned about service lines, career opportunities, and movement within the firm at these visits. In addition, Steve Martin, president of MDS CPA Review, came to speak to the program about the CPA exam, including its requirements, format, and study options. Lastly, an accountancy faculty dinner was

held at Kona Bistro uptown, giving students the opportunity to meet their past, present, and future professors in a laid-back and social atmosphere. Overall, the AMP has made huge leaps since prior years, allowing students more opportunities to learn about the profession and also to learn from each other. The progress does not stop here. The Accounting Mentoring Program will continue to grow in future years. It will be developed based on what the students in the program want, and more changes will be made to ensure it is the best it can be for the students who participate. By Alexandra Sparkman, 2011-2012 Ohio Society of CPAs Student Ambassador

Enhancing Our Mission ANNOUNCING A NEW SUPPORT POSITION IN THE DEPARTMENT OF ACCOUNTANCY

WHAT IS A “LEADERSHIP PROGRAM”? DO I NEED AN INTERNSHIP?

We are very pleased to announce a new student support position in the department of accountancy, the Ernst & Young Professional Development Advisor (EYPDA). The EYPDA will provide high-level coordination of co-curricular activities and will counsel students, primarily accountancy majors, on the appropriateness of the variety of activities that can improve their level of preparation for entry into the profession. The duties of the EYPDA will include: • internship placement and oversight

SHOULD I PARTICIPATE IN A CASE COMPETITION?

• advising students on opportunities to participate in leadership development programs • assisting in student advisement regarding global professional experiences • assisting with international and domestic student placement

HOW CAN I LEARN ABOUT ACCOUNTING CAREERS?

• overseeing the Accounting Mentoring Program • assisting with corporate relationship development • coordinating case competitions

HOW DO I FIND A JOB???

• assisting in development and oversight of diversity programs • assisting in the development of experiential learning opportunities for accountancy majors • teaching the new professional development course, ACC256

Developing Scholars through Mentoring: The Ernst & Young Teacher-Scholar Program IN 2011, MIAMI LAUNCHED THE INAUGURAL YEAR OF THE ERNST & YOUNG UNDERGRADUATE TEACHERSCHOLAR PROGRAM. FROM A COMPETITIVE LIST OF EXTREMELY HIGH-CALIBER APPLICANTS, MIKE RHODES WAS CHOSEN AS THE INITIAL UNDERGRADUATE SCHOLAR. TOGETHER, MIKE AND I EXPLORED SEVERAL RESEARCH PROJECTS INCLUDING FAIR VALUE ACCOUNTING, REVENUE RECOGNITION ISSUES, AND PENSIONS. ULTIMATELY WE SELECTED TWO TOPICS – LEASES AND OTHER COMPREHENSIVE INCOME – TO RESEARCH IN DEPTH AND THE RESULTING ARTICLES HAVE BEEN SUBMITTED FOR PUBLICATION. The most extensive project explored the reporting implications and financial effects of the new FASB lease exposure draft. Matthew Schneider, an E&Y professional in the Cincinnati office, provided generous feedback in the final stages of writing the paper. His comments focused on the logistical and financial challenges of integrating lease capitalization into a firm’s accounting system. Using this information, we were able to draft a unique and practical implementation guide. At that time, this was the only mainstream research that addressed implementation suggestions. Commenting on the benefits of this experience, Mike stated: “It was a truly remarkable and academically enriching experience to work with Miami University faculty on high-level academic research. It provided insight into how professors conduct research and allowed me to explore

Jim Turley (left), Chairman and CEO of Ernst & Young, and Tim Eaton (right) congratulate Mike Rhodes on being selected as the inaugural Ernst & Young Undergraduate Scholar.

relevant financial accounting concepts in more detail.” In particular, he noted several learning outcomes from his experience: faculty/student engagement, interaction with accounting professionals, intellectual curiosity, analytical reasoning, and effective written communication.

Mike concluded that “the Ernst & Young Teacher-Scholar Program has materially contributed to my, as well as to Miami University’s, commitment to undergraduate education. I was one of the few undergraduate business students with the opportunity to conduct undergraduate research. I carried this experience to my role on the Associated Student Government (ASG) Research Committee, where I worked to allocate funding for University-sponsored undergraduate research across disciplines.” We are pleased to report that Ernst & Young has continued their support for 2012 with Andrew Kleshinski being chosen as the 2012 Undergraduate Scholar. By Dr. Tim Eaton, Associate Professor of Accountancy and Ernst & Young Teaching Scholar

Bryce Armbruster is leaving behind quite a legacy. THREE YEARS AGO, PI SIGMA EPSILON (PSE) DECIDED TO BRING DANCE MARATHON BACK TO MIAMI UNIVERSITY, AND BRYCE, WHO GRADUATED IN MAY WITH DUAL DEGREES IN ACCOUNTANCY AND HISTORY, WAS THERE AT THE BEGINNING.

Dancing for a Cause, Dancing “For the Kids” Seeing the success of Dance Marathon on other campuses, PSE hoped to bring the tradition of community, philanthropy, and energy to our campus. WHAT IS DANCE MARATHON? Dance Marathon is a nationwide student movement raising money for Children’s Miracle Network (CMN) hospitals. With the mission statement “We dance for those who can’t,” Indiana University students created the first Dance Marathon in 1991, and began what would become the largest collegiate philanthropic movement in the nation. Today, with the motto “FTK: For the Kids,” there are over 170 Dance Marathons across the country. MIAMI UNIVERSITY’S DANCE MARATHON Participants in Miami University’s Dance Marathon (MUDM) raise

money and awareness for Cincinnati Children’s Hospital (our local CMN hospital), the leading provider of pediatric care in the state of Ohio. A year of fundraising culminates in an energetic 12-hour celebration honoring the hardships and successes of the “Miracle Children.” In the first year, MUDM raised $3,500 with 65 participants. “The founding members decided that for MUDM to grow into its own tradition and legacy,” Bryce recalls, “it would have to branch off from PSE. So we did.” The next year, MUDM grew to over 200 participants and raised $20,000 for the kids of Cincinnati Children’s Hospital. But it wasn’t done growing.

$37,702.60. “The outstanding growth of Dance Marathon has made it one of the most student-recognized names on campus,” says Bryce. “Even more meaningful for this year’s executive board, though, is that we all had a role in either founding or participating in the 2009 MUDM and have had the chance to grow the organization from its conception as a small event to the experience of a lifetime.”

In November 2011, 470 participants celebrated 11 Miracle Children and their families. Total raised:

The Student Movers Behind MUDM A team of 24 students worked tirelessly to organize, promote, and run the event this year. They were led by the 2011 MUDM executive board: President: Nick Hunt, Psychology and English Literature (B.A., May 2012) VP of Communication: Bryce Armbruster, Accountancy and History (B.S. and B.A., May 2012) VP of Corporate Relations: Alex Smith, Marketing (B.S., December 2011) VP of Involvement: Amy Halpern, Marketing (B.S., May 2012) VP of Logistics: Brigette Myers, Marketing (B.S., May 2012) VP of Development: Lauren Smith, Speech Communication and Journalism (B.A., anticipated December 2012) Bryce believes that the prevalence of business majors on the MUDM executive board reflects Farmer School students’ desire to give back to the community—and to take ownership of and assume leadership in activities to produce results. For him and the other 2012 graduates on the executive board, MUDM has been a driving influence for the past three years, and it has proven to be one of their most rewarding Miami experiences. “This event was the culmination of my time at Miami, and now I can leave campus knowing I have established a bona fide legacy here,” Bryce says with pride. “And we did it all for the kids.” Bryce will be joining the assurance staff of PwC in Chicago, Illinois, this fall.

To learn more about Dance Marathon, please visit dancemarathon. childrensmiraclenetworkhospitals.org. You can learn more about Miami University’s Dance Marathon at www.mudm.org.

By the Numbers INCOMING MACC CLASS:

FARMER SCHOOL OF BUSINESS:

GRADUATED WITH LATIN HONORS

AMONG U.S. PUBLIC COLLEGES AND UNIVERSITIES ACCORDING TO BUSINESS WEEK’S ANNUAL SURVEY

68% 40%

OF THOSE ARE SUMMA CUM LAUDE GRADUATES

3.76

AVERAGE ACCOUNTANCY GPA FOR REGULAR ADMITS

82%

28.3

AVERAGE ACT SCORE FOR STUDENTS ADMITTED TO FSB FOR 2012-2013

64.3% OF STUDENTS ADMITTED TO FSB FOR 2012-2013 ARE NON-RESIDENTS

HAD INTERNSHIP OR OTHER PROFESSIONAL EXPERIENCE

Accounting

{ A Service Profession } SERVING IN THE COMMUNITY AND AROUND THE WORLD

ACCOUNTING IS OFTEN VIEWED AS A FAIRLY LUCRATIVE PROFESSION. PARENTS ENCOURAGE THEIR CHILDREN TO PURSUE AN ACCOUNTANCY DEGREE BECAUSE THE CHANCES ARE GOOD THEY WILL BE ABLE TO SUPPORT THEMSELVES WHEN THEY GRADUATE. STUDENTS LIKE THE RELATIVE SECURITY OF THE PROFESSION, THE QUALITY COMPENSATION, AND THE POTENTIAL TO DRIVE THE FINANCIAL SUCCESS OF AN ORGANIZATION.

Accounting is not, however, often seen as a service-oriented profession. Students do not generally choose to major in accountancy because they see it as a way to serve the greater good. Aside from a few months spent working with the VITA (Volunteer Income Tax Assistance) Program each year, not many students spend much time thinking about how their accounting skills and business acumen can be powerful tools for non-profit organizations, community organizations, governmental agencies, or NGOs. In past annual reports, we have highlighted students with a passion for service who have chosen to devote a spring break or a summer to community service endeavors. Several years ago, for example, we featured three students and the community and social service in which they had engaged throughout the U.S. and around the world. But we have not looked at what our graduates have done with their accounting and other business skills to serve those around them.

into rewarding careers in service to their communities and the world. So this year we highlight a few of these individuals. WORKING IN SERVICE TO THE LOCAL COMMUNITY: Teresa (Teri) Haught, a 1987 magna cum laude graduate, was named a finalist in the Cincinnati Business Courier’s “CFO of the Year” awards in the “Nonprofits – Small” division in 2007 and 2008. She is currently the chief financial officer at ArtsWave (formerly the Fine Arts Fund), the oldest united arts fund in the U.S.A. “In the 18 years I‘ve been here,” Teri writes, “I have been able to oversee $156 million allocated to the arts. I get to work at an organization that does so much for the community, Cincinnati, my hometown.

Over the past several years, we have received updates from some of our alumni who have turned a passion for service, along with the accounting and leadership skills they learned at Miami University,

[ArtsWave] has made Cincinnati a better, more attractive, more distinguishing place to live and work.” 1980 graduate Joan Proffitt is the director of finance at the Cincinnati-Hamilton County Community Action Agency, a private, nonprofit organization serving more than 20,000 low-income children and adults in Hamilton County through employment, supportive services, early childhood education, housing, and youth programs. “I love what we’ve been able to do, as an organization, for the community,” writes Joan. “It’s wonderful to be able to do what you’re professionally trained to do and at the same time help people and help the community, not stock prices.” WORKING IN SERVICE TO THE GLOBAL COMMUNITY: Joy Phumaphi, a 1987 Master of Accountancy graduate and Botswana national, is vice president for the human development network at the World Bank. She began her public service career in Botswana as a local government auditor. From 1994 to 2003, she went on to serve in Parliament and as a representative to the Southern African Development Community. After joining the cabinet, she developed Botswana’s first

national housing policy. Joy subsequently served as minister for health, overseeing the revision of the Public Health Act, and putting into action a multi-sectoral plan to combat HIV/AIDS. In 2003, Joy joined the World Health Organization as assistant director general for the Family and Community Health Department, managing a staff of over 1100 globally. She is on the board of GAVI (The Global Alliance for Vaccines and Immunisation) and has served as a member of the UN Reference Group on Economics and as a UN Commissioner on HIV/AIDS and Governance. She is also a member of the United Nations Development Programme advisory board for Africa and the AfricaAmerica Institute and is executive secretary for the African Leaders Malaria Alliance. These women, and others like them, serve as shining examples of how an accounting career can take business professionals beyond the boardroom and into the community in service to others. Do you have a story about how you or someone you know has translated the skills learned at the Farmer School into a life of service? We’d love to hear it! Please e-mail Marc Rubin (rubinma@muohio.edu) or Gretchen Radler (radlergb@muohio.edu).

Alumni in the News

Rev. Joseph (Joe) Binzer (1977) was featured in USA Today in July 2011, when he was named auxiliary bishop of the Cincinnati archdiocese, the region’s second-highestranking Catholic leader. Joe had worked in public accounting for just over a decade when he entered the seminary in 1988; he was ordained in 1994. Joe’s accounting training and skills prepared him for administrative service within the church, through which he helped turn around the finances of several congregations.

Christopher Che (MAcc 1986), president and CEO of Hooven-Dayton Corporation, was quoted in an article in the Dayton Daily News about his company hosting President Obama’s Council on Jobs and Competitiveness (Jobs Council) in May 2011. For 75 years, Hooven-Dayton has provided high quality prime product labels, flexible packaging, promotional coupons, and specialty printing solutions. Christopher was subsequently appointed to the Jobs Council.

Andrew (Andy) Holzhauser (2001, MAcc 2002) was recently highlighted in the business section of The Cincinnati Enquirer (May 13, 2012) for his efforts to help homeowners and nonprofits in the Cincinnati area make energy-saving improvements—affordably. Andy is executive director of Greater Cincinnati Energy Alliance, which he built by organizing seven Greater Cincinnati and Northern Kentucky governments behind a common purpose with a “triple bottom-line notion: We’re helping people save money, we’re creating jobs, and then we are helping the environment.”

Building a Career on a Solid Miami Foundation THE GEHRINGS ARE A MIAMI FAMILY. John F. Gehring (B.S. in Accountancy, magna cum laude, 1983) is one of nine children, seven of whom graduated from Miami University, as did his wife, Carolyn. Two of their children, Lisa (20) and Michael (18), will both be enrolled at Miami this fall, Lisa as a junior in the Farmer School of Business, and Michael a first-year student. Their oldest daughter, Leslie (22), graduated from the University of Denver, but their youngest, Kelly (13), may yet be another Miami graduate!

“There’s no question that the Miami brand is known, trusted, and valued throughout the business world.”

Miami diploma in hand, John joined the staff of KPMG LLP in Cincinnati, Ohio, in 1983. He advanced through the firm and entered into the partnership within ten years. As an audit partner, some of his significant clients included Federated Department Stores and General Electric Aircraft Engines. “I am a firm believer that what you know may be useful, but the ability to learn is critical for success,” John says. “I think my Miami experience really helped me develop my ability to learn, and helped me build the confidence to take on new challenges at a variety of companies over my career.” Seeking new challenges, John left KPMG after more than a decade with the firm. After a brief stint as Director of Corporate Audit with PepsiCo, Inc. in New

York (1996-1997), he returned to Cincinnati as an audit partner and Ohio Valley Area Practice Leader for Business Risk Services with Ernst & Young LLP. In 2002, he joined ConAgra Foods, Inc. as Vice President of Internal Audit. John credits Miami’s excellent professors and challenging learning environment for preparing him for the depth and breadth of his successful career—even if he didn’t realize it at the time. “I didn’t fully appreciate how well prepared I was until I entered the workforce,” he recalls. “Then I realized that I was not only well-prepared from a technical standpoint, but I was also able to leverage problem-solving skills that I developed through my experiences at Miami.” But it was not just the professors who helped him succeed in the business world. “Just as great athletes make their teammates better in sports, being surrounded by high-caliber classmates at Miami made me more confident and helped me to be both a better teammate and a better leader in the business world,” says John.

allocation; and has oversight of audit, tax, enterprise risk management, controllership, enterprise shared services, and information technology functions at ConAgra Foods. John speaks highly of the Miami brand, the value of which has been affirmed throughout his career: “There’s no question that the Miami brand is known, trusted, and valued throughout the business world,” he says. “As I moved from KPMG to PepsiCo to Ernst & Young and ConAgra Foods, Inc., my Miami education was recognized by all of my employers as a valued ‘trust mark.’ “I’m pleased to say we are now one of those employers,” John continues, “as ConAgra has recently added the Farmer School of Business to a very select group of business schools that we target for our Financial Development Program. We have our first Miami interns starting in the program this summer. ”

His confidence, team skills, and leadership abilities have certainly paid off. From Vice President of Internal Audit, John advanced to Senior Vice President and Controller (Chief Accounting Officer) in 2004, and was promoted to Executive Vice President and Chief Financial Officer of ConAgra Foods in 2009. In this role, he is a key advisor to the CEO and the Board of Directors on matters related to operations, strategy, mergers & acquisitions, and capital

New Challenges? No Problem! “I CAN’T TELL YOU HOW PROUD I AM TO HAVE BEEN A MIAMI GRADUATE WITH A MAJOR IN ACCOUNTANCY, AND WHAT IT HAS MEANT FOR MY CAREER,” WRITES DOUGLAS C. PONTSLER, A 1979 GRADUATE OF MIAMI UNIVERSITY’S ACCOUNTANCY PROGRAM.

Vice President of Environmental, Health, and Safety (EHS) and Operational Sustainability at Owens Corning, Doug credits Miami, and specifically the Department of Accountancy, with giving him the opportunity to develop the skills that have enabled his career. “The combination of instilling a passion for learning, providing leadership opportunities, and building financial acumen has allowed me to accept the challenges of any role that I have served in.” Doug began his career as a cost accountant with an industrial manufacturer, Aeroquip-Vickers, with the career objective of becoming corporate controller. After approximately four years in financial roles with increasing responsibility, he was asked to take over responsibility for the production and inventory management function for one of their business segments. Though he knew very little about production and inventory management, he relied on his passion for learning and the leadership skills acquired at Miami. “That move began a very rewarding career of almost 33 years that has involved leadership positions in materials management, factory management, purchasing, and now my current role with Owens Corning,” Doug recalls.

After more than 20 years with Aeroquip (which was acquired by Eaton Corporation in 1999), Doug joined the staff of Owens Corning as Director of Corporate Services in 2002. He was named Director of Global Sourcing in 2004, Vice President of Global Sourcing in 2008, and Vice President of EHS in 2009. As Vice President of EHS, Doug directs safety and environmental matters within Owens Corning globally. In 2011, his role expanded to include responsibility for foundational compliance and sustainability operations performance. “While again not my formal area of education,” Doug says, “my passion for learning and my leadership skills led other senior leaders to have confidence that I would succeed in these roles.” Thinking about our current students, Doug wonders where their careers will take them. He encourages students to rest assured that Miami University has given them what they need for whatever lies ahead. “They should have confidence that the skills they are acquiring today prepare them not only for finance roles, but also leadership roles that are needed in every business discipline,” affirms Doug. “They should have confidence that they are graduating from a university that understands that and has prepared them accordingly.”

Class Notes HAVE YOU RECENTLY STARTED A NEW JOB? RETIRED FROM AN OLD JOB? GONE TO GRADUATE SCHOOL? ARE WEDDING BELLS SOON TO RING OR IS A BABY ON THE WAY? LET YOUR FELLOW ALUMNI KNOW THROUGH THE CLASS NOTES SECTION OF THE ACCOUNTANCY ANNUAL REPORT. IF YOU WOULD LIKE TO UPDATE YOUR FELLOW ALUMNI, PLEASE SEND AN E-MAIL WITH ALL PERTINENT INFORMATION (INCLUDING YOUR GRADUATION DATE AND MAIDEN NAME, IF APPLICABLE) TO GRETCHEN RADLER AT RADLERGB@MUOHIO.EDU.

1940s

1980s

Arthur E. Merten (1949) retired from General Electric in 1985, where he had been a budget analyst. In June, he and his wife, Marjorie, celebrated their 63rd wedding anniversary. They have enjoyed more than 20 years in Florida as retirees, where Arthur golfs several days each week.

1970s

Lynn J. Good (1981) was recognized as CFO of the Year in the public company division at the Charlotte, North Carolina, 2011 CFO of the Year Awards ceremony. Nominees were judged based on financial management skills, strategic thinking, and a demonstrated commitment to fiscal integrity and accountability. Lynn is group executive and chief financial officer of Duke Energy.

Harold M. Reed (1977) has been appointed the new chief operating officer at The Andersons, Inc., located in Maumee, Ohio. In that position, he will ensure the organizational structure is strategically aligned to support growth. Harold has been with The Andersons since 1980, most recently serving as the President of the Grain & Ethanol Group.

Sean McGrory (1983) joined Cincinnati certified public accounting firm Clark, Schaefer, Hackett & Co. in November 2011 as a shareholder with the assurance practice. He will lead client engagements while providing accounting, audit, and business advisory services. Sean was previously chief financial officer and partner at Miller-Valentine Group. Chet Shedloski (1983) joined JPMorgan Chase as vice president for community development real estate lending in

Ohio, Kentucky, and West Virginia. Previously, he was a commercial real estate relationship manager for Citizens Bank in Cleveland, Ohio. Gregory A. Thaxton (1983) was promoted to corporate senior vice president and chief financial officer at Nordson Corp. in Westlake, Ohio. He joined Nordson in 1989 and was most recently corporate controller and chief accounting officer. Prior to becoming a part of the executive leadership team, Greg served as group controller for the Pacific South division and the finishing and coating systems segment, as well as the automotive systems and UV curing systems businesses.

1990s Brady Burt (1994) has been named CFO of Park National Corporation, an Ohio-based financial institution with over $7 billion in assets, beginning

in April 2013. Brady joined Park in April 2007 as chief accounting officer and has been extensively involved with various aspects of Park’s financial reporting and accounting. In 2008, Brady was instrumental in the efforts to combine all eight Ohio bank charters operating within Park into a single charter supporting 11 banking divisions. Most recently, he was a key leader in the sale of Park’s Vision Bank subsidiary. Prior to joining Park, Brady was executive vice president and chief financial officer for Vail Banks, Inc., where he’d also held leadership roles in the internal audit department. Previously, he spent seven years working for PricewaterhouseCoopers, where his service included a four-year period in London, England. Michelle Johnson (1994) opened a certified public accounting business in New Richmond, Wisconsin. She was previously chief financial officer of Fox Valley Workforce Development Board, Inc.

2000s Owen Beck (MAcc 2005) and his wife, Dee, welcomed their second child on April 15. Owen works for Plante Moran in Toledo, Ohio. Tracy (Heckmann) Beck (2007, MAcc 2008), CPA, CISA, is a senior accountant with Marriott International in Washington, D.C. Prior to joining Marriott, she was a risk assurance senior associate with PwC. Sarah Buchman (2005, MAcc 2006), CPA, CISA, was promoted to global IT manager for Crocs, Inc. in 2010 and relocated to Singapore in Southeast Asia. Ashley Butler (2007, MAcc 2008) joined FFR-DSI, Inc. as an accountant in November 2011. Brian W. Dietzel (2007, MAcc 2008) left Ernst & Young, where he was a senior accountant for business tax services, in July 2011 to join GATX Corporation in their Chicago, Illinois, headquarters. Brian is a senior international tax analyst. Jennifer Dwyer (2007) works as a tax analyst at National Surgical Hospitals in Chicago, Illinois. Michael A. Garamoni (2006, MAcc 2007) is director of finance and accounting at Ryan Specialty Group, LLC, in Chicago, Illinois. James E. Gargas (MAcc 2005) is a manager with PwC’s Forensic Services Practice in Washington, D.C. His specialties include accounting and securities fraud investigations, Anti-

Bribery/Anti-Corruption (ABAC) investigations, compliance assessments and due diligence, and litigation support work. Emily Lane (2007), CPA, was promoted to audit supervisor at Dauby O’Connor & Zaleski, LLC in July 2011.

business development with Umbian Inc. in Cincinnati, Ohio. Elizabeth B. Pingree (2006) became an Ohio Certified Public Accountant in March 2011. She lives in Hyde Park, Ohio, and is a senior tax analyst at PNG Telecommunications, Inc. in Fairfield, Ohio.

Daniel Larson (2005) is director of tax planning at Wealthquest Corporation in Cincinnati, Ohio. He and his wife, Becca, will celebrate their seventh wedding anniversary in August. They have a four-yearold daughter, Annabelle, and twin boys, Patrick and Graham, who turned one in March. Daniel “retired” from his position as tax manager at PwC in September 2011 to pursue an opportunity to head the tax department at a local RIA wealth management firm.

Jill (Christman) Pratt (2007, MAcc 2008) lives and works in Nashville, Tennessee, where she is a senior financial analyst at Mars Petcare.

Mitchell T. Manders (2006, MAcc 2007), CPA, joined Weaver Popcorn as corporate controller in August 2011. He was previously an audit senior at Deloitte in Indianapolis, Indiana.

Kristin (Lameier) Shafer (2005) and her husband, Matthew (2004, finance), welcomed twin boys Owen and Eli on March 29, 2012. Kristin is the lead Miami recruiter for Ernst & Young, LLP.

Lauren McCance (2009, MAcc 2010) is an auditor with PNC in Cleveland, Ohio. Kelly M. O’Brien (2009) was promoted to senior associate at PwC in July 2011. She lives and works in New York, New York. Erin (Slusser) Paul (2004, MAcc 2005) and her husband, Tait (2000, MAcc 2001), welcomed their second child, Nora Belle, on December 24, 2011. Big brother Isaac couldn’t be prouder. Erin is a CPA and director of

Jeffrey R. Schaeffer (2005) earned his MBA from the Kellogg School of Management at Northwestern University in 2010. After working as an auditor with Ernst & Young and a consultant with Deloitte Consulting, Jeff recently became a revenue management senior manager at Groupon. He lives in Chicago, Illinois.

Mark D. Sheldon (2005, MAcc 2006), CPA, CISA, is a senior associate in risk assurance at PwC in Cleveland, Ohio. He has been accepted into the PhD program in Accounting and Information Systems at Virginia Tech. Leslie (Barden) Wilkins (MAcc 2006) is controller with Kaleidoscope in Cincinnati, Ohio.

Fluid Power in Cincinnati, Ohio. Prior to joining Anchor Fluid Power in 2011, he was an enterprise risk services consultant with Deloitte.

2010s Michael Gould (2010, MAcc 2011), along with Professors Tom Schultz and Dennis Sullivan, researched and wrote the article “A Value Added Tax for America?” which was accepted for publication in The CPA Journal. Justin Reddington (2011) is an audit associate with Grant Thornton in Cincinnati, Ohio. Weston Smith (2012) partnered with Jonathan Tudor (2012, management information systems) and Robbie Sauerberg (2011, marketing) to turn a class project into a published journal article. Their paper, “Customer Relationship Information Technology Internal Control and Security (CRITICS) Framework,” was published in ISACA JournalOnline. Seth Bradley Weinstein (2010) graduated from Ohio State University’s Master of Accountancy program in June 2011 and joined SS&G Financial Services, Inc. as an assurance associate at their headquarters in Solon, Ohio, in September.

Matthew M. Williams (2009, MAcc 2010) is an IT manager with Anchor

“My time in Iraq was an experience that I would never want to relive or replace. Iraq provided me with the toughest test that I will probably ever face. As a squad leader I was often the ranking individual on inner city patrols. Through both the mental and physical exhaustion of war I had to remain responsible and accountable for my own decisions, as well as those of my eight soldiers, both in and out of combat.

Honoring Our Military Personnel AS WE RECENTLY HONORED THE 10TH ANNIVERSARY OF THE SEPTEMBER 11, 2001, ATTACKS THAT CATAPULTED OUR COUNTRY INTO WAR, WE WERE INVITED TO REFLECT ON OUR STUDENTS AND ALUMNI WHO HAVE SERVED, ARE SERVING, OR WILL BE SERVING OUR COUNTRY IN THE U.S. ARMED FORCES. HERE ARE SOME OF THEIR STORIES.

“In a war against an undefined enemy, leaders were given latitude to make impromptu judgment calls as necessary. I was often forced to analyze situations in the absence of orders; constantly weighing my decisions against a hierarchy of ethical, safety, and mission considerations. The ability to determine the relevance of information and adapt to constantly shifting circumstances were crucial skills that I practiced on a daily basis. Iraq was, as most things in my life have been, a learning experience. I continuously reviewed my actions and refined my processes and by May of the following year all of my soldiers and I had returned home safely. To date it stands as the accomplishment of which I am most proud. “I am writing this now as a senior on pace to graduate cum laude. My transition from soldier to student wasn’t as tough as I had feared. . . Before I ever stepped foot in a classroom I knew how to work independently and as part of a team, knew the best solutions come from a diversity of thought, and knew that I could rely on and learn from others and they could rely on and learn from me. I am closer now to my goal of becoming a CPA than I could have ever imagined as a nineteen-year-old doing pushups in the Georgia heat. My approach to being a student is the same as my approach to being a soldier: both take hard work, discipline, and the ability to function as part of a team in order to succeed.” — Christopher M. Herzfeld, B.S., 2009; MAcc, 2010 (above are excerpts from his MAcc application essay) Sergeant - Infantry Squad Leader, U.S. Army Years served: 1997-2004 Tax associate with Ernst & Young

“I am a Second Lieutenant in the United States Marine Corps and I [was] recently commissioned at graduation on May 5, 2012. I was in the NROTC program here at Miami. The NROTC program at Miami University has done an excellent job of preparing my fellow newly commissioned officers and me for service in the Navy and Marine Corps. The knowledge and guidance of the officers and staff non-commissioned officer in our unit have played crucial roles in my development. “I am looking forward to the next step, The Basic School, in Quantico, Virginia. The newly commissioned Second Lieutenants and I (Marines only) will be there for 26 weeks starting in October—there we will be trained as basic rifle platoon commanders. In Quantico, we will also receive our Military Occupational Specialty (MOS) assignments (the job we will be doing in the Marines). I want to become an infantry platoon commander though I would also like to do any combat arms-related job like artillery, combat engineers, or light armored reconnaissance.” —Daniel J. Shipman B.S., 2012 2nd Lieutenant, U.S. Marine Corps

“My name is Russ and I am an aspiring accountancy major. I was medically retired from the Army and I work at Miami Hamilton as the student veteran representative. I served ten years and I am a blinded Operation Iraqi Freedom veteran.” —Russell R. Nelson Sophomore, ACC pre-major U.S. Army (Retired)

“I served two tours in Iraq as an infantryman: one during OIF II (Operation Iraqi Freedom) from 2005-2006, and the second during OIF III as a team leader in 2007. Both tours have had a profound impact on my life and have made me realize how precious life really is and to not take it for granted. The values of discipline and hard work developed in the Marine Corps have translated into being a successful student at Miami and hopefully will serve me well in my career pursuit as well.” —Daniel J. Bauer Senior ACC Major Lance Corporal, U.S. Marine Corps Years served: 2004-2008

ADDITIONAL STUDENTS AND ALUMNI WITH MILITARY SERVICE: Daniel Joseph Lee Bennett B.S., 2011 U.S. Navy

Aart W. den Hoed III MAcc, 2012 Major (Retired), U.S. Air Force Years served: 1985 - 2008

Thomas J. Laine II B.S., 2009; MAcc, 2010 Sergeant - Radio Chief, U.S. Marine Corps Reserves Years served: 2005-present Audit associate at Grant Thornton LLP

Hans Rhenisch Junior ACC major Ohio Army National Guard (2009-present) Cadet in Miami’s Army ROTC Program

Faculty News Roger Ames, Instructor

Philip Cottell, Jr., Professor

(amesrd@muohio.edu)

(cottelpg@muohio.edu)

After 12 years of teaching financial and tax accounting on a part-time basis, accepted an appointment to a full-time teaching position teaching tax for academic year 2012-2013; finished a 10-year term on the Board of Trustees of McCullough-Hyde Memorial Hospital (served four years as secretary/treasurer, one year as vice-chair, and two years as chair of the board).

Please see article p. 26

Peter Brewer, Professor

(brewerpc@muohio.edu) Published article in May 2012 edition of Issues in Accounting Education titled “Responding to the leadership needs of the accounting profession: A module for developing a leadership mindset in accounting students”; published Managerial Accounting 14e and Introduction to Managerial Accounting 6e with the McGraw-Hill Companies; served on the editorial board of the Journal of Accounting Education.

Kathryn Easterday, Assistant Professor

(easterke@muohio.edu) Taught ACC321 Intermediate Financial Accounting; was a faculty advisor for a Deloitte Case Competition team; attended the AAA Annual meeting in Denver, Colorado, and the AAA Financial Accounting and Reporting section meeting in Chicago, Illinois; presented a paper at the AAA Ohio Region meeting in May 2012; two co-authored papers were accepted for publication in Journal of Business, Finance & Accounting and Journal of Public Budgeting, Accounting and Financial Management. Timothy Eaton, Associate Professor

(eatont@muohio.edu) Served as the inaugural Ernst & Young Teacher Scholar (see article on p. 7) and as faculty advisor for PwC case competition; conducted

several research studies on pensions and other topics with submissions to several journals including Accounting Review, Behavioral Research in Accounting, and Journal of Accountancy; publication “Double (accounting) standards: A comparison of public and private sector defined benefit pension plans” (co-authored with Kathryn Easterday) accepted for publication in Journal of Public Budgeting, Accounting and Financial Management; reviewer for several academic journals. Jan Eighme, Lecturer

(eighmeje@muohio.edu) Taught accounting information systems, governmental/not-for-profit accounting, and accounting research; served as chief departmental academic advisor and the advisor for the Miami student Accounting Association; served as the secretary/ treasurer for the Ohio Region of the American Accounting Association; served on the editorial board of the American Journal of Business.

Anne Farrell, PwC Assistant Professor

(Anne.Farrell@muohio.edu) Taught ACC333, Managerial Cost Accounting; served as faculty advisor for the Deloitte-Miami University Case Study Competition and as guest speaker for Miami University Women in Business; research paper co-authored with Kathryn Kadous and Kristy Towry of Emory University accepted for publication at the Journal of Management Accounting Research; two research papers, one co-authored with Christine Denison of Iowa State University and Kevin Jackson of the University of Illinois, and the other co-authored with Susan Krische of American University and Karen Sedatole of Michigan State University, published in Contemporary Accounting Research; presented coauthored research papers or served on research and/or teaching panels at the Global Equity Organization National Equity Compensation Forum in Scottsdale, Arizona, the American Accounting Association (AAA) Management Accounting Section Conference in Houston, Texas, and the European Accounting Association

Annual Congress in Ljubljana, Slovenia; served as a reviewer for the Journal of Management Accounting Research; served as the Academic Representative to the AICPA Business and Industry Executive Committee, a member of the AAA Management Accounting Section Nominating Committee, chair of the AAA Management Accounting Section’s “Impact on Managerial Accounting Practice Award” Selection Committee, and external evaluator for Ph.D. Candidate at Erasmus Institute of Management (ERIM); obtained Chartered Global Management Accountant (CGMA) credential from AICPA-CIMA. Jon Grenier, Assistant Professor

(jgrenier@muohio.edu) Taught ACC453 Financial Statement Auditing; his co-authored article “Exploring the Strategic Integration of Sustainability Initiatives: Opportunities for Accounting Research” was accepted for publication in the June 2012 issue of Accounting Horizons; attended the AAA Annual Meeting and presented his research at the AAA ABO Research Conference, the AAA Auditing Mid-year Conference, and the European Auditing Research Network Symposium in Bergen, Norway; his dissertation “Encouraging Professional Skepticism in the Industry Specialization Era” was awarded the 2011 AAA ABO Section

Outstanding Dissertation Award; served as a faculty sponsor of Miami’s team that participated in Deloitte & Touche’s national case competition; welcomed his second son, Harrison (Harry), in May. Christopher Metcalf, Senior Clinical/ Professionally Licensed Faculty

(metcalcc@muohio.edu) Started twelfth year at Miami teaching the principles of accounting series, in addition to other various core business and Bachelor of Integrative Studies courses on the Middletown and VOA campuses; continued as an academic advisor for fouryear business students; promoted to Senior Clinical/Professionally Licensed Faculty; and continued active involvement in professional qualification activities through SCORE. Tom Porcano, Arthur Andersen Alumni Professor

(porcantm@muohio.edu) Please see article p. 26 Drew Reffett, Assistant Professor

(reffeta@muohio.edu) Taught ACC453 Financial Statement Auditing in the undergraduate program and ACC653 Assurance Services in the MAcc program; welcomed the birth of his second son, Graham, on November 18, 2011.

Marc Rubin, PwC Professor and Chair

(rubinma@muohio.edu) Co-authored article with Dean Roger Jenkins published in Issues in Accounting Education; co-authored research paper for the Financial Accounting Foundation; served on AICPA Task Force on Continuing Education Requirements; vicepresident of American Accounting Association Government and Nonprofit Section; board member of Accounting Program Leadership Group; chair, Membership Advisory Committee of the American Accounting Association. Dale Stoel, Assistant Professor

(stoelmd@muohio.edu) Taught ACC361 Accounting Information Systems as well as ACC333 Managerial Cost Accounting; published a paper focused on business risk reporting with Brian Ballou and Dan Heitger in Management Accounting Quarterly and the paper received a Lybrand Award as one of the best papers of the year; published two papers in International Journal of Accounting Information Systems, one on impact of IT-related material weaknesses and one on key IT audit factors market valuation of IT capability and IT spending; presented research papers at 2011 AAA AIS mid-year meeting on the reporting of enterprise risk management information to a board of directors.

Hostage! In June 2011, Dr. Easterday was rescued after being taken hostage by a gunman. It was part of her volunteer service as a role player in training exercises for R.E.R.T (Regional Emergency Response Team), a tactical police response team supported by the police departments of Vandalia, Huber Heights, Fairborn, and Beavercreek, Ohio.

From Left: Kathryn Easterday; Lt. Harry Busse, Vandalia, Ohio, Police Department; and Cpt. Doyle Wright, Beavercreek, Ohio, Police Department.

Bidding Farewell to Cottell and Porcano THE FACE OF OUR DEPARTMENT HAS CHANGED TREMENDOUSLY OVER THE PAST DECADE. THIS SUMMER, TWO MORE OF OUR SENIOR FACULTY RETIRED FROM FULL-TIME TEACHING AND RESEARCH. Dr. Philip G. Cottell, Jr. joined the Miami University accountancy faculty in 1982. Prior to coming to Miami, he worked for Ernst & Ernst, served as a commissioned officer in the United States Army, and taught military science and accounting at the University of Kentucky. A member of our financial accounting faculty, Phil was the 2004 recipient of the E. Phillip Knox Award, the highest award granted by Miami University for teaching effectiveness. One student’s comments on the senior survey demonstrate why: “Dr. Cottell’s ACC422 class had a huge impact on me. I learned not only in-depth textbook accounting knowledge, but also ways in which those concepts could be applied in the real world. His strong use of student groups in the classroom was also very beneficial to my education, and greatly prepared me for the real world.” Phil left his mark on the teaching profession with his expertise in the area of problem-

based learning (PBL). “PBL produces a learning environment that is less teachercentered and more student-centered,” he explains. “In this student-centered environment, students more readily develop analytical skills and the ability to confront unstructured problems.” Phil received the 2011 Teaching Learning & Curriculum Section Outstanding Education Research Award from the American Accounting Association for his work with PBL. Dr. Thomas M. Porcano has served the Department of Accountancy and our students for 35 years. He joined our tax faculty in 1977, and a year later one of his students was Donna Deye, now Senior Vice President and CFO of totes»ISOTONER. She recalls the first day of class: “Dr. Porcano said, ‘Look around, only one of you is getting an A this semester.’ Boy did that make me work hard the rest of the semester! I can’t remember if he stuck to this, but it motivated at least one person in

the class to do the homework!” (You’ll have to ask her if she earned that A!) Among the numerous teaching awards Tom was nominated for and received are the Richard T. Farmer School of Business Administration Effective Teacher Award (1993, 1998, and 2003) and the Beta Gamma Sigma Distinguished Faculty Award (1993). A prolific researcher, his intellectual contributions to academia and the profession are unparalleled in the department. Tom influenced a number of students during his tenure here with his passion and expertise. Dan Staley, Miami alumnus and tax partner with PwC, credits him as being a big influence in his decision to pursue tax as a career. Dan recounts an experience he had in Tom’s tax class in the spring of 1987: “A major Tax Act occurred in 1986 that overhauled many aspects of individual

taxation. Since it was so new, Tom had no textbook to use to teach the new Tax Act. He said we could either spend a semester learning outdated tax law since there was at least a textbook for it, or we could not waste our time and instead learn the new law. So, without the benefit of having any textbook to teach from, Tom improvised and did an incredible job of teaching us the new tax law. His intelligence and teaching style, not to mention his wit and improvisational skills, are something that I never forgot!â&#x20AC;? Phil and Tom, you will be missed. You leave behind a legacy of dedication to our students and service to the department and university, and we wish you the very best in your retirement.

Dr. Thomas M. Porcano

Dr. Philip G. Cottell, Jr.

Dan Staley (left), partner with PwC, offered the keynote address at this yearâ&#x20AC;&#x2122;s Beta Alpha Psi initiation ceremony

Hands-On Learning Students in Ron Collinsâ&#x20AC;&#x2122; ACC 222C Introduction to Managerial Accounting (Honors) course toured the Toyota Motor Manufacturing, Kentucky (TMMK) facility in Georgetown, Kentucky, to support a lesson on cost classification in manufacturing processes. TMMK is the largest Toyota plant outside of Japan. Members of the 2011-2012 Beta Alpha Psi pledge class

Sarah Lechleiter (front row, third from right) from Centerville, Ohio, was named one of the 2011-2012 Provost Student Academic Achievement Award winners. The Provostâ&#x20AC;&#x2122;s Awards recognize students for their outstanding contributions to Miami Universityâ&#x20AC;&#x2122;s intellectual environment. Sarah made the most of her time at Miami, graduating with majors in accountancy, finance, and Spanish, along with a minor in international business. She also interned at Wright-Patterson Air Force Base, Abbott Laboratories, and J.P. Morgan Investment Bank. Sarah will be joining JPMorgan Chase as an investment banking analyst in New York, New York.

Celebrating Excellence Master of Accountancy director Dan Heitger presents the Federation of Schools of Accountancy 2012 Student Achievement Award to Anne Bain

STUDENTS RECEIVE TOP AWARDS

How You Can Help THE DEPARTMENT OF ACCOUNTANCY WOULD LIKE TO THANK EACH FRIEND WHO SUPPORTED OUR EFFORTS OVER THE PAST YEAR. WE APPRECIATE THIS SUPPORT AS IT INDICATES YOUR CONFIDENCE IN OUR PROGRAMS AND SERVICES. A SUCCESSFUL PROGRAM DEPENDS UPON TEAMWORK; BY REACHING OUT TO OUR VARIOUS PARTNERS AND WORKING TOGETHER TO CONTINUALLY IMPROVE, WE CAN LOOK TO THE FUTURE WITH GREAT OPTIMISM.

How can you help continue the tradition of excellence? SHARE YOUR STORY. As one of our alumni or other supporters of the Department of Accountancy, you are an excellent ambassador of our programs. Encourage high school students you know to take a look at Miami University and the Farmer School of Business. OFFER YOUR EXPERTISE. You possess insights, skills, and experience that can enhance classroom instruction and benefit any number of our programs and activities. We encourage you to contact us to explore ways in which you can contribute your time and talent to make the Farmer School’s accountancy experience even better in the years to come. CONSIDER A CONTRIBUTION. Gifts and donations are an important part of the university budget and every gift counts. If you have questions about the Department of Accountancy’s funding priorities and initiatives, please feel free to contact Marc Rubin personally at 513-529-3381 or rubinma@muohio.edu. Thank you again for your continued support.

From the Dean The Accountancy program remains one of the Farmer School of Business crown jewels. Supported by many stakeholders including alumni, corporate partners, and friends, the faculty delivers a world-class education. Continuing to foster the Miami tradition of close professor/student interaction, we have seen an increase in resources dedicated to academic and career advising this year. As tenured professors such as Drs. Porcano and Cottell retire, a new guard of faculty members including Drs. Drew Reffett, Anne Farrell, and Jon Grenier carry the program forward. Ahead of these new faculty members and their established peers lies the task of evolving the curriculum to accommodate changing technologies and industry innovation at a time of unprecedented financial challenges within higher education. It is for these reasons we are so appreciative of the philanthropic support we receive. Your gifts of time, talent and treasure make a difference. The true test of the quality education our graduates receive is seen in our placement results. I am pleased to share with you that once again accountancy majors led all majors in securing full-time and internship positions. As we look to the future, I encourage you to actively reconnect with your alma mater. Your involvement as a Farmer School guest speaker or through engagement in one of our experiential learning classes to tackle accounting, marketing, or other business challenges will help us provide the most up-to-date and relevant education to our students. Warm Personal Regards,

Roger L. Jenkins, Dean Mitchell P. Rales Chair in Business Leadership

Learning is the single greatest source of competitive differentiation in the business world. . . and the single most important ingredient to a successful career and fulfilling life.â&#x20AC;? ~David Calhoun, CEO of The Nielsen Company, FSB Commencement Ceremony Address, May 2012

Department of Accountancy Farmer School of Business, Suite 3094 Miami University 501 E High Street Oxford, OH 45056-1846