The Debits and Credits, Issue #4, Vol. #2

TheDebitsandCredits

BetaAlphaPsiandSocietyofAccountingStudentsMonthlyNewsletter Issue #4. Vol #2. March 2023

AlumniSpotlight:TeraHatler

By: Aidan Cagner

Afrequentvisitoronourcampus,AlumnaTeraHatler,CPAisanAssurancePartneratEY. OriginallyfromOxford,CT,shegraduatedSummaCumLaudefrom Scrantonin2003withanaccountingdegree.WhileatScranton,she wasacheerleaderandtaughtstep-aerobicsasherwork-studyjob. ShealsoservedasanIntercompanyAccountingInternforIBM. Tera currentlyresidesinRutherford,NJ,andenjoysrunning,spinning, traveling,bingingonTV,andspendingtimewithhertwokids. Tera alsoservesontheUniversityofScranton’sAccountingDepartment ProfessionalAlumniCouncil(ADPAC)and receivedtheMichaelO.MensahServiceAward in2018forhercontinueddedicationtothe Universityanditsstudents. BAPandSASwill bewelcomingTerabackoncampusinearly ApriltodiscusstheimportanceofDiversity,Equity,andInclusion(DEI)in theaccountingandfinancialservicesprofession.

MeettheFirms:Wiss&Company,LLP

By: Brett McCartney

Foundedjustfiftyyearsago,WisshasrecentlyemergedasatopaccountingfirmintheUnited States. Despiteitsshortexistence,Wisshasaccumulatedseveralprestigioushonorsbymultiple rankings.Forexample,NJBiz recognizedWissasatopten accountingfirminNewJersey, whileInsidePublicAccounting includedWissontheirlistofthe Top100accountingfirmsinthe countryin2019.

PredominantlyintheNortheast, Wisshasfouroffices:NewYork City;Flemington,NJ;Florham Park,NJ;andBocaRaton,FL.

TheirbeautifulnewcorporateheadquartersinFlorhamParkisjustaboutfiveminutesawayfrom wheretheNewYorkJetspractice.

AsanindependentmemberofBDOAllianceUSA,Wissisamid-sizedfirmthatspecializesina varietyofservicesincludingAdvisory,EarlyStage,Tax,Assurance,OutsourcedAccounting, LawFirmServices,Mergers&Acquisitions,andFamilyOffice.Thefirmemploysaround350 individualsandtotalsrevenueoverthirtymilliondollars.

EmployeesatWissfollowthe Core Four:Advocate,Impact, Care,andCollaborate.Thesefourwordsguideemployee behaviorintheworkplace,aswellasclientinteractions,to delivercompanymission.Wissencourages advocacy,as employeesaretocatertotheclient’sbestinterestatalltimes. Impact placesanemphasisonconstantlydevelopingtechnical skillsandstrivingtowardmastery. Care encourages employeestoupliftnotonlythemselves,butothers,through developingpositive,meaningfulconnections.Finally, collaborate meanstoembraceopportunitiesandharnesscollectivepowertosteerthefirm towardsuccess.ManyUniversityofScrantonstudentshavesecuredinternshipsand/orfull-time employmentwithWiss.

BAPandSASPresidentAidanCagnerrecentlyinternedatWissintheirCFOAdvisoryservices andwasabletoexperiencetheirculturefirst-hand:“Wissisessentiallyapost-graduateScranton organizationthatembodiesScranton’s Cura Personalis lifestylewhereemployeesarenever afraidtosupporteachother.Iamluckytohavespentseveralmonthsatsuchagreatfirmthat remindsmesomuchofScranton.IhighlyencourageanyinterestedScrantonstudenttoexplore internshipandfull-timeopportunitiesatWiss.”

Belowaresomeofourothernotablealumniandcurrentstudentswhowouldgladlydiscusstheir Wissexperiences:

 PaulUrsich,Partner,CFOAdvisory

 LisaFitzgerald,SeniorAssociate,Assurance

 GinaSposato,SeniorAssociate,Assurance

 EvanKarli,SeniorAssociate,Assurance

 DaniellaRodriguez,Intern,CFOAdvisory

 AshleyZaita,FormerIntern,CFOAdvisory

 SeanSmith,IncomingStaffAssociate,ITAdvisoryServices

 NinaFigetakis,IncomingIntern,Assurance

 CatherineO’Sullivan,IncomingIntern,Assurance

PaulUrsichwillbepresentingtoBAPandSASonconsultingandadvisoryservicesonTuesday, March21st at11:30aminBRN228. Interestedstudentsshouldtrytoattendthisevent!

MemberSpotlight:JohnSheehan

By: Kaleigh Timmons

JuniorJohnSheehanisoneofourBAPMemberscurrentlyparticipatinginaBigFourBusy SeasonInternship! Johniscurrentlyawayfromcampuscompletingan internshipwithEYinNewYorkCityasan FSOFAAS(FinancialAccountingAdvisory Services)Intern. WiththehelpoftheWinter intersessionandcondensedcourseofferingsin theSpringsemester,hecantakeadvantageof thisprimeinternshipopportunityavailabletoScrantonstudents. JohnisfromDumont,NJandisanAccountingmajor,withminors inFinanceandBusinessLeadership. HeisaGrowthAnalystfor PRISMandastudentintheBusinessLeadershipHonorsProgram. Healsoworks asatutorattheCenterforTeachingandLearning Excellence. Additionally,JohnhaspastexperiencewithCrystal ParkGroupasaPrivateEquityIntern.

Inhisfreetime,Johnenjoyswatchingsports,workingout,and watchingmovies. WearesoluckytohaveJohnasoneofourBAPmembersandwewish himwellashefinisheshisinternship!

HailtotheInterns!

By: Aidan Cagner

OnFebruary21st,BAP,SAS,andIMAheldtheirAnnualInternshipPanelwherepanelists informedclubmembersabouttheirvariousinternshipexperiencesinaccountingandfinance fields.

Daniella Rodriguez:DaniellaisaseniorBAPmember majoringinaccounting,whowillbepursuingherMaster’s inAccountancy(MAcc)inforensicaccountingnextyear. Lastsummerandthroughoutthecurrentacademicyear, DaniellahasbeeninterninginWiss’sCFOAdvisoryservice line,andabsolutelylovesit. Shehasmainlyfocusedon EmployerRetentionCredit(ERC)work,whichisatax creditgiventosmallandmidsizebusinesseswhohave sufferedthroughpartialorfullsuspensionsduringthe Covid-19Pandemic. Duringthepanel,Daniellasaidthat thiswasanextremelyrewardingexperienceforhertohelp smallbusinessesinneed. ShealsocomparedtheWiss culturetoScranton’scultureindicatingthesimilaritiesinthe

organizations’corevalues. Thissummer,shewillbeanassuranceinternatKPMGandis lookingforwardtoseeingtheirbeautifulnewtrainingcampusinOrlando,FL.

Emma Boyle:EmmaisaseniorBAPmembermajoringin accountingwithminorsinforensicaccounting,business analytics,businessleadership,andsportscommunication. SheisalsointheBusinessLeadershipHonorsprogram. Nextyear,shewillbepursuingherMAccinaccounting analytics. EmmaisthePresidentoftheIMA,co-Founder andco-PresidentoftheCURAConsultingClub,andPast PresidentofBAPandSAS. ThroughherroleinCURA, Emmahelpslocalsmallbusinessesandnon-for-profits,and currentlyhasbeenheavilyinvolvedinamergerand acquisitionengagementbetweentheScrantonChamberof CommerceandtheCarbondaleTechnologyTransferCenter. Duringherfreshmanandsophomoreyears,Emmainternedin bothsalesandaccountingfortheScrantonWilkes-Barre Railriders. Lastsummer,shehadanassuranceinternshipwith DeloitteinPhiladelphia. Onthepanel,Emmaelaboratedon howmuchshelovedher timeatDeloitteandenjoyedbeing aroundsomanyScrantonalumni. Sheevenhadthe opportunitytositinonanearningscallwithshareholdersand creditorsofanassuranceclient. Finally,Emmahasbeen workingasapart-timeconsultantforNeumentum,Inc.,whichisagrowingpharmaceutical company. Inthisrole,shefrequentlyworkswith Scrantonalumnusand“HallofFamer”Taggart McGurrinandisabletolearnmanyskillsfromhim.

Tom Csehovics:Tomisaseniorfinancemajorwithminors inbusinessleadershipandaccounting. Heisalso inthe BusinessLeadershipProgram. Hisleadershipexperiences oncampusincludebeingtheco–PresidentofPRISM,and theTreasureroftheCURAConsultingClub. Hismain interestisinthebankingandassetmanagementsectors. In thesummerofhissophomoreyear,heinternedwithSummit Financial,workingprimarilyintheirPrivateWealth Managementserviceline. HethenhadaPrivateAsset AdvisoryandValuationinternshipwithPWCinWinter 2022. Tomgottoworkonalotofduediligenceand valuationengagementsthatpreparedhimforhiscareer. HismostrecentinternshipwaswithMetLifeInvestment ManagementwhereheworkedintheirFixedIncome

Investmentsserviceline.Tomlikeditsomuchthatheacceptedafull-timeofferatMetLifepostgraduation. Duringthepanel,Tomsaidthatthecultureatmostfinancefirmsislessthanideal, butatMetLifeitwassurprisinglypleasantandwelcoming. Tomwasabletoconnectand networkwithanyoneintheorganization,nomattertheirservicelineorposition.

Annalisa Mechanick:AnnalisaisaseniorBAPmember majoringinaccountingwithaminorinphilosophy. Sheisalso intheBusinessHonorsProgram. Shewillbepursuingher MAccnextyear. Sheis currentlyaResidentAssistant,Campus TourGuide,andtheIMATreasurer/SocialMediaCoordinator. Lastsummer,shecompletedanassuranceinternshipinNYC withFORVIS. Onthepanel,Annalisaindicatedthatshe learnedsomuchduringherinternship,andthatthefirmculture andpeoplemadetheexperiencesoenjoyable. Nextsummer, AnnalisawillbeinterningatKPMGinassuranceservicesto gainBigFourexperience.

Thankyoutoallourpanelists!

BAP&SASMarchCalendarofEvents

● Thur,3/9,11:30am(BRN228):PatrickMcDonough,SVP/CFOMilwaukeeBucks

● Fri,3/10:BAP&SASOfficerApplicationsDue

● Mon,3/20,5-6pm(BRN314):BAPDrop-inTutoring

● Tue,3/21,11:30am(BRN228):Wiss&Company,LLP-AdvisoryServices

● Thur,3/23,5-6pm(RoseRoom):ProspectiveAccountingStudentNetworkingEvent

● Wed,3/29:Wilkes-Barre/ScrantonPenguinsSiteVisit&Game

● Thur,3/30,5-6pm(BRN314):BAPDrop-inTutoring

PleasecontactKevinDuffy,BAP/SASSecretary,withanyquestionsconcerningattendance andparticipation.

Congratulationstothe followingBAP&SAS memberswhohave perfectattendancesofar

thissemester:

EmmaBoyle

AidanCagner

JuliannaCrandle

JustinGalli

BrettMcCartney

AnnalisaMechanick

MarisolOlivares

PatrickO’Malley

KaleighTimmons

ThomasYager

AshleyZaita

SeanSmith

KyleWalsh

Keepupthegoodwork!

AccountingKnowledgeisPower

By: Kevin Duffy

“SupremeCourt’sStudent-LoanCaseWillTestLimitsof PresidentialPower”

By: Andrew Restuccia and Jess Bravin

OnFebruary28th,theSupremeCourtbegandebatesoverthe BidenAdministration’s$400billionplantoforgivethestudent loansoftensofmillionsofborrowers. Thecourtwillbeforced tomakeadecisionovertheboundsofthePresident’sexecutive powertoputintopracticepolicieswithoutexplicitauthorization fromcongress. Thiscouldhavegreatimplicationsforthe borrowersofstudentloansaswellastheexecutivepowerof futurePresidents.

Readmoreat:https://www.wsj.com/articles/supreme-courtstudent-loan-case-test-limits-of-presidential-power4402d2ae?mod=us_lead_story

“ChinaUrgesStateFirmstoDropBigFourAuditorson DataRisk”

By: Bloomberg News

ThisarticlediscusseshowauthoritiesinChinaareurgingstatedownedfirmstodropBigFourauditorsbylettingtheircontracts expire. Thisisbecausetheystillhavegreatconcernsfortheir data’ssecurity. Theyareinsteadurgingthemtohirelocal ChineseorHongKongauditors.

Readmoreat:https://www.accountingtoday.com/articles/china-urges-state-firms-to-drop-bigfour-auditors-on-data-risk

“9in10AccountingandAuditFirmsStruggletoFindTalent”

By: Isaac M. O’Bannon

Thisarticlediscusseshowthefastest-growingproblemthataccountingfirmsandinternalaudit departmentsarefacedwithtodayishiringandretainingskilledaccountants.Thearticlepoints outthatonereasonforthisishistoricallylowunemploymentrates. Tofacethisissue,these organizationshaveincreasedtheiruseofmoreadvancedtechnologieslikecloudservices,data analytics,andbusinessintelligencetoimproveclientcollaboration.

Readmoreat:https://www.cpapracticeadvisor.com/2023/02/23/9-in-10-accounting-and-auditfirms-struggle-to-find-talent/77123/

BAP/SASAttendance HonorRoll

BAP&SASMembersShowtheLove:Valentine’sDayCardEvent

By: Kaleigh Timmons

OnThursday,February9th,theBAPandSASmembers dedicatedtheireveningtocreatingheartwarming

Valentine’sDayCardsfortheCatherineMcAuleyCenter forWomenandChildren. Membershadawonderful timeservingthegreaterScrantoncommunityasthey createdover100uniqueandheartfeltcardstodonateto theCenteralongwithsomeValentine’sDaytreats.The CatherineMcAuleyCenterdistributedthecardsand treatsonValentine’sDaytocommunitymembers throughtheirLittleFreeLibrary. Weareextremely thankfulforourBAPandSASmembers!

ScholarshipDeadlinesareApproaching!ApplyToday!

Applyat:https://www.picpa.org/future-cpas/scholarships-awards

Application Deadline: March 15, 2023

OneapplicationconsidersyouforallAICPALegacyScholarships:

 AICPAFoundationScholarshipforFutureCPAs:$3,000-$10,000

 AICPAScholarshipAwardforMinorityAccountingStudents:$3,000-$10,000

 AWSPCAScholarshipAward:$5,000

 AICPAJohnL.CareyScholarshipAward:$5,000

Applyat:https://www.thiswaytocpa.com/education/aicpa-legacy-scholarships/

Application Deadline: April 30, 2023

Applyat:https://www.efwa.org/scholarships.php

It’sClassifiedInformation

BecomeaPICPAStudentAffiliateMember: IT’SFREE!UsetheQRcodebelowto accessthemembershipapplication.

BecomeanAICPAStudentAffiliateMember:IT’SFREE!Usethefollowinglinktoaccess themembershipapplication:https://www.thiswaytocpa.com/join_aicpa/

ThePICPAandSurgentCPAReviewareholdingaFREECPAExamsimulationduringthe monthofMarch.Interestedstudentsshouldvisit: https://www.picpa.org/future-cpas/events for moreinformationandtoregister.

Scan Here to Apply!