The Calumet Accountant March 2013 Edition
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The official publication of the Calumet Hammond Chapter of the IMA
Transcript of The Calumet Accountant March 2013 Edition
The Official Publication of the Calumet Chapter IMA –081 Hammond Serving Northwest Indiana and
the South Chicago Suburbs
Contents
Volume 68 issue 09 March 2013
Table Of Contents
Presidents Message ---------------------------------------------------------------------------------------------------------------------------------------- 3
Crossword ------------------------------------------------------------------------------------------------------------------------------------------------- 4-5
Board of Directors --------------------------------------------------------------------------------------------------------------------------------------- 6-7
Tech Tips ------------------------------------------------------------------------------------------------------------------------------------------------------ 8
Personal Development ------------------------------------------------------------------------------------------------------------------------------------ 9
Agenda -------------------------------------------------------------------------------------------------------------------------------------------------- 10-11
IMA and the CMA ------------------------------------------------------------------------------------------------------------------------------------ 12-18
Retrospective ---------------------------------------------------------------------------------------------------------------------------------------------- 19
Dear Friends:
University studies usually include a study on the job hunt for the soon to be graduates. When I attended Purdue University in Calumet (many years ago) I remember reading many books preparing me for this experience. I garnered a lot of useful hints and tips, but the one that stood out the most was: first deter-mine what type of job you want, and then take the necessary steps to achieve and realize that goal. As it was my desire to be an accountant, I interviewed accountants both in public and private accounting to determine what type of accountant I wished to be. I remember calling one accountant and asked him if I could interview him for 10 minutes (another useful hint, keep the interview process short). To be honest with you it was terrifying calling upon a complete stranger with such a request. The accountant was very informative and I did keep an eye on my watch and made sure I did not go over ten minutes. I believe these days the advice is to have “an elevator pitch,” just in case you meet someone that may be able to assist you in obtaining your goal.
Since that time I have always thought there must be an easier way for future accountants and finance professionals to gain insight as to what kind of job they seek. That is why I am very pleased that on March 19, 2013 at Zuni’s in Crown Point Indiana the Calumet Chapter of the IMA will present the 2nd An-nual Accounting Showcase. Our objective is simple: we give the soon-to-be graduate an opportunity to ask the questions of those in the profession in relaxed and friendly atmosphere. Our chapter has many individuals that work in various lines of business. While, we do get to introduce ourselves and say where we work, we may not know all the ins and outs of what each other do. This night not only gives students the opportunity to ask questions, but gives others in the accounting profession the gain more insight into our industry.
Therefore, I am imploring all the members if there is any way at all you can make it out to the 2nd Annual Accounting Showcase please come out and support the chapter at this event. We need everyone’s help to truly make this “Our Biggest Night of the Year.”
Regards,
Mark T. Camarena, CMA
President, Calumet Chapter IMA
Visit us online at http://www.imacalumet.com
630.530.6707 (W)
e-mail me anytime [email protected]
Message from Mark T. Camarena, President
February’s 2013 Crossword Solution
40 pounds: The amount of eco-friendly, vege-
table-based dye it takes to turn the Chicago
River green, a tradition dating back to 1961.
The dye itself is orange, but it turns a bright
emerald hue when mixed with the water. The
Chicago Journeymen Plumbers Union has car-
ried out the tradition since its inception. “This
spectacular transformation ranks right up
there with the parting of the sea by Moses and
the Pyramids of Egypt.,”
says greenchicagoriver.com.
Color Me Green –March 2013 Crossword
Administration and Finance
Special Activities Director
Director in charge of coordinating special events
AV Tech Director
Director in charge of locating, setting up, and running audio and visual components for special events and meetings
Communications and Community Relations
Social Media Director
Director(s) in charge of website maintenance, Facebook and Linkedin maintenance
Community Relations Director
Director in charge of community outreach and coordinating community service for the Chapter
Chapter Historian
Director in charge of maintaining chapter documents, newsletters, roster books, and other relevant me-dia
Education and Professional Development
CPE Director
Director in charge of CPE certificate maintenance and record keeping
CMA Director
Director in charge of coordinating sponsor discounts for CMA candidates and encouraging members to take the CMA exam
Academic Relations Director
Director in charge of communicating with area professors about the IMA and the Chapter, and promoting and coordinating the Chapter as guest speakers for classes and accounting groups
Open Board Positions Be a part of something exceptional. The Board of the Calumet Hammond 081 Chapter is always in search of great talent. Joining the Board is an excellent opportunity for you to showcase your talent and build your professional network. Don't hesitate, join today and help build our Chapter into something brilliant. Please contact Mark Camarena at [email protected] or Richard Mielcarz at [email protected] for further information.
Calumet Chapter IMA
http://www.imacalumet.com
IMA Calumet
Institute of Management
Accountants-Calumet
Chapter
Officers and Directors 2011—2012
Mark Camarena - President 630-530-6707 (w) [email protected] Jim Spice - Secretary 815-933-0491 (w) [email protected] Deb Heim - Treasurer 630-378-6308(w) debra.heim@patterson_medical.com Adolph Ferber - Vice President of Administration 219-322-5848 (h) [email protected] Richard Mielcarz Vice President of Communications and New Member Chair 708-799-6234 (h) [email protected] Bill Biller - Vice President of Professional Education 219-765-3587 (h) [email protected] Anthony “Fester” Fontana Vice President of Membership Retention 708-534-5000 ext 5494 (w) [email protected] Wes Christensen - Corporate and Academic Development 708-687-9087 [email protected]
Yolanda Peoples - Director of Member Participation
Al Zurawski Director of Employment and Chapter Photogra-
pher and all around awesome guy 219-477-4488 ext 222 (w)
Warren Cebulko - Director of Program Rosters 312-808-3890 (w) [email protected] Brian Guse - Director At Large 219-362-1531(w) [email protected] Kyle Jones - Director Of Public Relations 219-616-6606 [email protected] John Kitzmiller - Newsletter Director 708-923-0558 [email protected] Adam O’Hare - Associate Director, Membership Growth and Retention, [email protected] Alan Arendt - Assistant Treasurer
Interested in joining the board?
The Calumet Hammond Chapter is always looking for new talent, consider joining and showcasing yours! Please consult page two and find
something that will make you stand out and have a good time!.
$4.7 billion: How much celebrants will spend
on St. Patrick’s Day this year, according to the
National Retail Federation. That’s up slightly
from 2012, when green-clad revelers spent 4.6
billion. The average person will spend an esti-
mated $35.27 on green clothing, home décor,
and refreshments.
Facebook Hints and Tricks
Offer them something of value, expect nothing in return ‐ it's a brand-awareness tool.
Provide interactivity with widgets or polls. Interacting with your brand and spending time with it can help to create a
relationship and build word of mouth.
Try to integrate the various different types of Facebook advertising with your message or brand. Build a
Facebook page with a widget and Facebook ad. Build the relationship.
Use status updates to disseminate information about self/business. Sarah is "in Vancouver for a business meet-
ing. Call me if in town" Jim is "congratulating Jane for her recent promotion."
Update your business page frequently. Facebook is geared towards current events, recent changes and up‐to‐the‐second
news updates of your friends lives. Post information as soon as possible and frequently to encourage customers to return more
often. Having a Facebook business page allows you to send personal updates, just to members, e.g. new product launches, in‐
store events, special promotions, which makes your business more personal.
The power of news feeds. When you view your Facebook “Home” page, you see instant up‐to‐the‐minute news on what
your friends are doing, which groups they’ve joined, and even their emotional status. When users become a fan of your business,
the News Feed application tells their friends and invites them to become a fan of your business as well. On average, over 100 peo-
ple will see this update. The News Feed application is the key to spreading your message virally on Facebook.
Choose the right Facebook applications for your business. There are thousands of free applications on Facebook,
but that doesn’t mean that every one has a place on your business page. Your page comes with basic pre‐installed applications
and you can easily add others, for instance, a restaurant may choose to add an application for online order or reservations. The
more useful and relevant the applications are to your customers, the faster your fan base will grow.
Promote through Facebook Ads. Facebook Ads allow you to target your audience based on age, gender, geography, edu-
cational status, relationship status, and precise interests or keywords. Ads can be socialized so that users’ interactions are re-
flected in the ads their friends see; thereby increasing the virality of your page.
Find suppliers and contacts for your business by using the Facebook "status" feature. For example, if you're an event plan-
ner whose caterers are all too busy to help with a last-minute party gig, then change your status in Facebook to "I need to find a
party caterer today!" When you do this, all your friends in Facebook will see this change and they may have someone to recom-
mend. If the caterer you find is good and is on Facebook, you could add them as a friend ‐ that way, their business contacts in
Facebook may come across your page at some point and see and use your event planning services. Ask for what you want and you
may get it.
You can post Flash and HTML directly in your brand’s Facebook Page. Facebook Pages (that’s with a capital “P”)
are a way you can create a “Profile” for your business.
The largest demographic on Facebook is the 25 and older group. Believe it or not, per Facebook’s own statistics,
the fastest growing demographic on Facebook is those aged twenty‐five and older.
IMA Webinar Save the Date for IMA's free Leadership Academy Webinar
Wednesday, April 10, 2013 at 1 p.m. - 2 p.m. ET
Budgeting and Forecasting for the Middle-Market: Size No Longer Matters
Presenter: Neal Khan Director of Client Services Prophix Software
Tori Weissenberger Controller J.F. Brennan Company, Inc.
Event Description
Advances in technology, and the associated economics, in conjunction with emerging techniques in the realm of budgeting and planning have opened the door for companies of all sizes to move away from a static and non-strategic budget to a budgeting process that drives dynamic forecasting and planning. How do companies align budgeting with forecasting and strategic planning? What factors are driving middle and even small market companies to reassess how they leverage budgeting and forecasting to drive business results? How are companies who once considered themselves too small to be on the fore-front of budgeting and planning best practices achieving best-in-class results?
Price: Free CPE Credit: 1 Credit
Field of Study: Finance
Research Area: Business Performance Management
Program Level: Basic Prerequisites: None Advance Preparation: None Instructional Method: Group-Internet
Register Now!
44 cents: The average retail price of one pound of green cab-
bage in US grocery stores, according to the US Department of
Agriculture (USDA). Some 2.3 billion pounds of cabbage, were
produced in the United States in 2009. Cabbage is one half of
the dynamic duo that makes up corned beef and cabbage, the
signature St. Patrick’s Day dish.
$4.88: The price of a 12 oz. can of Libby’s corned beef at Wal-
Mart. For the homemade variety, the Food Network recom-
mends starting with a beef brisket, which will cost you about
$5.99 per pound on average, according to the USDA.
2012-2013 Meeting Agenda for the Calumet Hammond Chapter of the IMA( Subject to Change ) all meeting are priced at $30 for members and $20 for
students unless otherwise marked
Tuesday March 19, 2013 5124 Zuni’s 5124 Pine Island Drive Crown Point Indiana: Ac-counting Showcase 4 members take questions from the audience. Panelists include:
Heather Abbring: Ms. Abbring is the controller of Family Express Corporation, a chain of almost 60 con-
venience stores and fueling centers in Northwest and Central Indiana. Family Express maintains a distribu-
tion center with daily delivery to each store and is known for its innovation and service to customers.
Sheryl Elliott: Ms. Elliott is a business support specialist for VVF Illinois Services LLC. Ms. Elliot provides
financial support to the industrial chemicals sales group as well as customer services backup and has di-
verse experience in payroll and inventory management. VVF Illinois Services LLC purchased the business
line from the Dial Corporation in 2009.
Craig Nash: Mr. Nash is the Senior Director of Corporate Accounting of White Lodging . In 1985, White
Lodging started as a one-hotel company in Northwest Indiana. Today, the company is one of the hospital-
ity industry leaders, combining development, ownership and management into one continuously growing
package with 160 premium-branded, select and full service hotels in 20 states along with 30 restaurants,
totaling nearly $1 billion in revenue and nearly 8,000 associates. By 2015, White Lodging’s property port-
folio is projected to include 210 hotels.
John Kitzmiller: Mr. Kitzmiller is the controller/CFO of FDS Coke Plant. FDS Coke Plant is a developmental
company focused on the building and operation of a metallurgical coking facility located in the Midwest.
Prior to joining FDS, Mr. Kitzmiller was the CFO of a hedge fund located in the northwest suburbs of Chi-
cago.
$6.63 billion: The endowment for the University of Notre Dame. It’s the 13th -largest endowment in the
country, and the largest among Catholic universities in the US. The Fighting Irish college football program,
worth $120 million, is the country’s third most valuable, behind the Texas Longhorns and the Michigan
Wolverines, according to a December 2012 Forbes survey. The program has a $15 million yearly TV con-
tract with NBC, which gets broadcasting rights to home games.
2012-2013 Meeting Agenda for the Calumet Hammond Chapter of the IMA( Subject to Change ) all meeting are priced at $30 for members and $20 for
students unless otherwise marked
April—May 2013- Special Event Saturday Night Races at Balmoral Park in Crete IL
May 21 2013- "Affordable Healthcare Act" at Luby’s Pub and Steakhouse, 6657 South Street in Tinley Park Illinois 60477 –Speaker: James Kennedy, Vice President, Hub In-
ternational
NOTES The chapter would like to hold a special event in Porter County and invite Purdue North Central, Valparaiso University, Ivy Tech, Indiana University Northwest and any other colleges in the area to an event. Additionally, we would like to have a reunion of the Indiana Dunes Chapter members at this event. We are asking our members in the area to recommend a restaurant with a room. Please send your suggestions of restaurants, topics and speakers you would like to have for this special event to [email protected]. The Chapter is looking for a portable microphone/speaker to help amplify presenters at Chapter events. If anyone can offer any expertise in this area or would be willing to let the chapter borrow equipment for monthly meetings it would be appreciated. $650 million: The estimated net worth of Michael Flatley, world-renowned Irish step dancer and creator of the megahit “Riverdance” and “Lord of the Dance” step dancing shows, among others. Mr. Flatley’s creations still tour the globe, and he owns homes in Bar‐bados, Beverly Hills, France, Ireland, and London.
The Institute of Managerial Accountants (IMA) represents more than 60,000 accountants and financial professionals worldwide. The majority of these professionals work inside businesses and organiza-tions. They comprise the essential elements of financial management, organizational development, integrity, ethics and governance, and short and long term business goal management.
The Certified Management Accountant Credential (CMA) offered by the IMA is an advanced profes-sional certification that reflects the necessary accounting and financial management skills demanded in today’s business environment.
The CMA exam was first offered in 1972. Today over 30,000 accountants and financial professionals have earned this highly recognized and global title.
Professionals who have earned the CMA hold key management roles at top multinational firms and offer their companies the real world relevance, critical knowledge, and leadership abilities to compete in today’s dynamic global business environment.
For further information please contact Richard Mielcarz Vice President of Communications and New Member Chair 708-799-6234 (h), epost: [email protected] or Wes Christensen - Corporate and Aca-demic Development, 708-687-9087, epost: [email protected].
CMA:
The Essential
Credential
Member Profile
How Do I Update My Member Profile at the IMA?
It's as easy as 1,2,3 to update your member profile at the IMA Website.
1. Go to the IMA website at www.imanet.org and log into your account .
2. Login with your member number and passcode. If you lost your member number or don't know it, email Dick Mielcarz
at [email protected] and he will forward it to you. If you have never registered on the site, then the initial password is your last
name. You will be prompted to create a new password.
3. Click on the "My Profile" link next to your name at the top of the page and edit your pro-file. Be sure to keep your information including any email changes current so we are better
able to keep you apprised of any Chapter happenings.
Source: Institute of Management Accountants, Inc. Montvale New Jersey www.imanet.org/ima_home.aspx
"I use my CMA body of knowledge every day. It comes naturally in the role of CFO because I need to look at
things from many different angles, not just from the financial perspective. Management accounting skills
are very much in demand as foreign and local companies reach out from the local marketplace and into
more global arenas. The CMA body of knowledge is very valuable in this regard."
John K. Lau, CMA
Chief Financial Officer
WesTrac China
"I tell my students: taking the CMA exam is something you can do even before graduation. It gives you
and your potential employer evidence that you’re well prepared and well qualified. The CMA sets you
apart from others who have a college degree alone, and it’s something that is recognized and respected by
a lot of potential employers."
Christine McKeag, CMA, CPA
Assistant Dean
Don't just blindly follow the CPA track. More than 80% of accounting professionals wind up working in
industry, so be aware of the non-public accounting opportunities. The big CPA firms sponsor everything
on campus, so it's easy to think they're the only game in town. They're not."
Paula Riemer, CMA, CPA
Senior Financial Analyst
The Martin-Brower Co., LLC
The fact that I had recently completed the exam definitely came up in my interviews. It was a strong selling
point that I think helped to set me apart. Pursuing my CMA shows not only that I have a specific skills set
but also that I was able to prepare for the exam and accomplish a goal."
Amy White, CMA
Accounting
Safeway, Inc.
“The CMA gave me the cohesion and validation that I needed. Because I come from India and my education
and experience came from there, my background wasn't as easily recognized. It's been very helpful for me
to have this designation, because it shows that I'm a person who understands all the things that are tested
on the exam."
Raj Bansal, CMA, CFM
Assistant VP, Banking Specialist HSBC Bank
“The CMA credential is a spotlight directed to anyone working in accounting and finance. To be certified as
a CMA means that I’m a more knowledgeable and experienced professional. In addition, the certification
gives me more confidence and adds to my clients’ trust, when they realize that they are dealing with a
CMA."
Dr. Samir M.A. Hassan, Ph.D., CMA, CFM
Learn more, catapult your career, never settle for anything but the best:
-http://www.imanet.org/cma_certification.aspx
http://www.youtube.com/user/LinkUpIMA
The Institute Of Management Accountants YouTube Page
The IMA maintains a YouTube channel filled with videos addressing the CMA exam
process, CMA study guides and resources, coverage of the IMA Annual Conference,
and insights from IMA leaders. Be sure to visit the IMA YouTube channel for further
insight on the IMA and the CMA.
Retrospective: Patricius, Qatrikias, Padraig, Padrig, Patron Saint of Ireland
St. Patrick, the patron saint of Ireland, is one of Christianity's most widely known figures. But for all his celebrity, his life remains somewhat of a mystery. Many of the stories traditionally associated with St. Patrick, including the famous account of his banishing all the snakes from Ireland, are false, the prod-ucts of hundreds of years of exaggerated storytelling.
St. Patrick: Taken Prisoner By Irish Raiders It is known that St. Patrick was born in Britain to wealthy parents near the end of the fourth century. He is believed to have died on March 17, around 460 A.D. Although his father was a Christian deacon, it has been suggested that he probably took on the role because of tax incentives and there is no evi-dence that Patrick came from a particularly religious family. At the age of 16, Patrick was taken prisoner by a group of Irish raiders who were attacking his family's estate. They transported him to Ireland where he spent six years in captivity. (There is some dispute over where this captivity took place. Al-though many believe he was taken to live in Mount Slemish in County Antrim, it is more likely that he was held in County Mayo near Killala.) During this time, he worked as a shepherd, outdoors and away from people. Lonely and afraid, he turned to his religion for solace, becoming a devout Christian. (It is also believed that Patrick first began to dream of converting the Irish people to Christianity during his captivity.)
St. Patrick: Guided By Visions
After more than six years as a prisoner, Patrick escaped. According to his writing, a voice—which he be-lieved to be God's—spoke to him in a dream, telling him it was time to leave Ireland.
To do so, Patrick walked nearly 200 miles from County Mayo, where it is believed he was held, to the Irish coast. After escaping to Britain, Patrick reported that he experienced a second revelation—an an-gel in a dream tells him to return to Ireland as a missionary. Soon after, Patrick began religious training, a course of study that lasted more than 15 years. After his ordination as a priest, he was sent to Ireland with a dual mission: to minister to Christians already living in Ireland and to begin to convert the Irish. (Interestingly, this mission contradicts the widely held notion that Patrick introduced Christianity to Ire-land.)
St. Patrick: Bonfires and Crosses Familiar with the Irish language and culture, Patrick chose to incorporate traditional ritual into his les-sons of Christianity instead of attempting to eradicate native Irish beliefs. For instance, he used bon-fires to celebrate Easter since the Irish were used to honoring their gods with fire. He also superim-posed a sun, a powerful Irish symbol, onto the Christian cross to create what is now called a Celtic cross, so that veneration of the symbol would seem more natural to the Irish. Although there were a small number of Christians on the island when Patrick arrived, most Irish practiced a nature-based pa-gan religion. The Irish culture centered around a rich tradition of oral legend and myth. When this is considered, it is no surprise that the story of Patrick's life became exaggerated over the centuries—spinning exciting tales to remember history has always been a part of the Irish way of life.
