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CalumCALUMET et ACCOUNTANT Accountant June2012


Contents Volume 68 issue 01 June 2012

This issue President’s Message

3

Sponsors

4

Board Of Directors Personal Development

5-6 7

New Members

8

Upcoming Event

9

The CMA

10-11

The IMA

12-14

The Official Publication of the Calumet Chapter IMA –081 Hammond Serving Northwest Indiana and the South Chicago Suburbs


Message from Mark T. Camarena, President Dear Friends: The books have been closed on another successful year for the Calumet Chapter of the IMA (081 Hammond). It is my pleasure to inform you that our newsletter took second place in the newsletter competition in 2011-2012. Many kudos go out to our editor John Kitzmiller for his efforts. It is our belief, that in order to claim first place in the competition, we need to profile and follow someone who becomes CMA certified. If you are on your way to the CMA consider sharing your story with us. During the chapter year, the Calumet chapter also competes with other chapters of similar size. The Calumet Chapter is in the Warner Division which is comprised of smaller IMA chapters. The competition goes from May 1 through April 30. The top 15 chapters in each division receive banners which are presented at the annual conference. This year the annual conference is being held in Las Vegas from June 23-27. The Calumet Chapter finished in 24th place with 2,517 points. There were 108 chapters in our division. The 15th place chapter had 2,697 points. You can see we are within striking distance of winning a banner. Points are earned based on attendance at meetings, how many meetings we offer, membership growth and retention, certification and other chapter activities. If we can increase membership and have members get certified we should be able to move up the standing in 2012-2013. While 2011-2012 was a success and we have you to thank, we cannot rest on our laurels. We need your continued support to make 2012-2013 another successful year for the Calumet Chapter. One of the issues we would like to focus on is getting more members that are currently working in finance or accounting in business. I believe that while IMA and CMA certification are now more recognized there are probably many in the industry that do not realize the Calumet Chapter is out here and has so much to offer. I urge you to think of your vendors and customers and think if there others you know that would benefit from membership in the Calumet Chapter of the IMA. If so let them know we are here, have them check out our award winning newsletter, invite them to a meeting. I also invite you to participate in planning the 2012-2013 chapter year. There will be a board meeting on Wednesday June 20, 2012 at Livio’s 8267 Wicker Drive St. John Indiana in the Lake Central Plaza. The meeting will be at 6:30 p.m. and the cost is $20.00 per attendee. The primary purpose of this first meeting is to get ideas of speakers, topics, and locations for the 2012-2013 year. If you are a member or thinking about being a member you are welcome to attend. Please e-mail me at markt@550access.com to RSVP. If you are unable to attend please know your suggestions are still welcome and you can e-mail any of your ideas to me and they will be discussed at this board meeting. Finally, I ask you to mark your calendar and consider joining us for a tour of the CME Group in downtown Chicago on Friday June 29, 2012 at 10 a.m. A good program is being put together. There will be no charge for this event and afterwards we plan to go to a local establishment for a “go dutch” lunch. There are details coming in a future e-mail blast but If you want to go please tell us so now. Thank you for your continued support. I know the Calumet Chapter will have another successful year with all of your help. 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 markt@550access.com


As we usher in a new year for the Calumet Hammond Chapter of the IMA, we wish to thank all of our sponsors for their contributions in 2011-2012.


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 markt@550access.com or Richard Mielcarz at mycarz17@aol.com for further information. 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 media 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


Calumet Chapter IMA http://www.imacalumet.com

IMA Calumet Institute of Management Accountants-Calumet Chapter

Abstract Circuit board, Simon Osborne www.threadless.com

Officers and Directors 2011—2012 Mark T. Camarena - President 630-530-6707 (w) markt@550access.com

Warren Cebulko - Director of Program Rosters 312-808-3890 (w) wcebulko@yahoo.com

Jim Spice - Secretary 815-933-0491 (w) jaspice@citykankakee-il.gov

Dr. Heikki Heino - Director of Manuscripts 708-367-0034 (w) heikkimtheino@gmail.com

Deb Heim - Treasurer 630-378-6308(w) debra.heim@patterson_medical.com

Brian Guse - Director At Large 219-362-1531(w) bguse@nyb.com

Adolph Ferber - Vice President of Administration 219-322-5848 (h) adolphferber@att.net

Kyle Jones - Director Of Public Relations 219-616-6606 kyljones@comcast.net

Richard Mielcarz Vice President of Communications and New Member Chair 708-799-6234 (h) mycarz17@aol.com

John Kitzmiller - Newsletter Director 708-923-0558 jkitzmiller2@comcast.net

Bill Biller - Vice President of Professional Education 219-765-3587 (h) biller6625@comcast.net

Adam O’Hare - Associate Director, Membership Growth and Retention, adamcohare@hotmail.co.jp

Anthony Fontana Vice President of Membership Retention 708-534-5000 ext 5494 (w) afontana@ameritech.net

Alan Arendt - Assistant Treasurer

Wes Christensen - Corporate and Academic Development 708-687-9087 weswchristensen@comcast.net

There will be a board meeting on Wednesday June 20, 2012 at Livio’s 8267 Wicker Drive St. John Indiana in the Lake Central Plaza. The meeting will be at 6:30 p.m. and the cost is $20.00 per attendee.

Yolanda Peoples - Director of Member Participation Yolandapeoples.imacalumet@gmail.com Al Zurawski Director of Employment and Chapter Photographer 219-477-4488 ext 222 (w) al@okaya.com

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 be heard.


Mentoring Date: Wednesday, July 11, 2012 1:00 PM Eastern Daylight Time CPE Credit: 1 hr Price: Free Field of Study: Management Advisory Services Research Area of Practice: Business Performance Management Program Level: Intermediate

Webinar: Mentoring How can you, as a management accountant add value to your company? Sometimes you have to take a good hard look on the inside to understand what’s happening on the outside. It takes courage to embrace change and champion this effort. You can assume this role and be the catalyst for positive change in your company.

Program Prerequisites: None Instructional Method: GroupInternet Advance Preparation: none Offered by the IMA www.imanet.org

Profitability enhancement studies are designed to help increase your profits and shareholder value by identifying practical income improvement and expensereduction opportunities. Results of these studies, when done correctly, can result in improved income and expense controls, improved earnings, reduced labor costs, improved cross-training, improved operating efficiencies. Businesses exist to make money and through learning about profit enhancement studies, you can help your business become more profitable. Learning Objectives: After this webinar, attendees will be able to: 1. Identify the steps involved in performing a profit enhancement study 2.

Execute your profit enhancement study

3. Interpret observations /results of the study/recommendations for change 4. Take-away cost savings opportunities and strategies for financial benefits Offered by the IMA, go to: http://tinyurl.com/76wow9w for further details.

Institute of Management Accountants (IMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site:www.nasba.org


The Calumet Hammond Chapter warmly welcomes its new members to the chapter!

Cynthia Lawn Zizhang Zhao Santiago Andres Justin Vanaman


CME TOUR 10:00 AM, Friday, June 29, 2012 Free Event

www.imacalumet.com

Please consider joining us as we tour the CME in downtown Chicago. This event will be held at 20 South Wacker Drive, Chicago Illinois. RSVP to markt@550access.com or use the QR code to the left on your smart phone and fill out your contact information with RSVP 0629 in the comment area. All are welcome, if you are a student, member, prospective member, or have an interest, please join us. We will have a go dutch lunch afterwards.

TOUR OF THE CME Building on the heritage of CME, CBOT, NYMEX and COMEX, CME Group serves the risk management needs of customers around the globe. The CME provides the widest range of benchmark futures and options products available on any exchange, covering all major asset classes. Their collective vision is one of ongoing global growth, innovative product development, continually enhanced technology and the highest level of service available on any exchange.

The Calumet Hammond 081 Chapter of the IMA is a Not for Profit Association for accountants and finance professionals in business. The Calumet Chapter serves Northwest Indiana and the Southern Suburbs of Chicago. Anyone with an interest in the subject matter is welcome as a member. Look for us on Facebook at IMA Calumet and on LinkedIn at Institute of Management Accountants—Calumet Chapter.


Gleim Publications has been helping candidates pass the CMA exam since 1980, with the most costeffective system combining books, Test Prep CD-Rom, audios, Gleim Online, and a Personal Counselor to GUARANTEE your success on the CMA exam.

Gleim is a proud sponsor of the Calumet Hammond Chapter of the IMA and not only donated the above certificate, but also offers chapter members a 20% to 32% discount on all CMA study materials, as well as Gleim CPE, including the new ethics course. Contact Melissa Leonard at melissa.leonard@gleim.com or call 1-800-874-5346 x 131 for further information.


CMA: The Essential Credential

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 organizations. 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 professional 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: mycarz17@aol.com or Wes Christensen - Corporate and Academic Development, 708-687-9087, epost: weswchristensen@comcast.net.


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 mycarz17@aol.com 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 profile. 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


Source: The Institute of Managerial Accountants Inc, 10 Paragon Drive, Montvale, New Jersey http://instituteofmanagementaccountants.hqcampaign.com/ps/7-21-2011-cmaconnection-cmanotes? hq_e=el&hq_m=1053863&hq_l=10&hq_v=f7c6811596


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.

http://www.youtube.com/user/LinkUpIMA


The Calumet Accountant