The Calumet Accountant
The Calumet Hammond 081 Chapter of the IMA warmly welcomes our newest members. Brandon Atkins Phil Boldyn Yoon Kyung Ha Elizabeth Devries Allison Friedrich Derek Erny Brendan Schafer Nicole Wright
Contents Volume 68 issue 10 May 2013
Table Of Contents Presidents Message---------------------------------------------------------------------------------------------------------------------------------------- 3 Crossword ---------------------------------------------------------------------------------------------------------------------------------------------------- 4 Board of Directors --------------------------------------------------------------------------------------------------------------------------------------- 5-6 Tech Tips------------------------------------------------------------------------------------------------------------------------------------------------------ 7 Personal Development ------------------------------------------------------------------------------------------------------------------------------------ 8 IMA and the CMA --------------------------------------------------------------------------------------------------------------------------------------9-16
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:
In December 2012 Farhad Manjoo wrote an article for Slate magazine entitled “The Greatest Hoodie Ever Made.” American Giant is a clothing manufacturer located in the United States. The company sells its products over the web direct from the factory to the consumer, eliminating the middleman. The basic American Giant Sweatshirt sells for $59 while the full zipped hooded sweatshirt sells for $79. In the article, Manjoo describes several reasons that the hoodie made by American Giant is the best ever. Quality material such as heavy cotton, fitted sizing, and innovative side panels joining the fronts and backs. The side panel gives the hoodie “mobility,” it allows you to raise your arm all the way up without feeling the whole coat ride up on you. It also insures the hoodie against future expansion: As your stomach grows larger, the stretchy fabric will grow along with it. A lot of details and thoughts went into distinguishing the American Giant brand. In March 2013, Farhad Manjoo had a follow up article in Slate magazine entitled “The Only Problem with the Greatest Hoodie Ever Made.” The one problem was the original article went viral and it became virtually impossible to get a hoodie from American Giant. In March American Giant estimated it would be back to fully stocked again in May. The BBC recently pointed to American Giant as an example of a “catastrophic success”—a business whose instant overnight fame rockets it into doom. American Giant has not failed and is still making garments today. The company plans to be around for a long time to come. In the follow up article, Manjoo asked Bayard Winthrop American Giant’s founder what happened to cause such an issue for the company. “The bottom line, for us, is that this wasn’t about the failure of the supply chain,” Winthrop says. “It was about planning. And if we plan correctly from now on, we should never be in that situation again.” We conclude this chapter year with some very exciting events; a night at the races on Saturday May 18, 2013 and a presentation on the Affordable Health Care Act on Tuesday May 21, 2013 at Carlos’ Restaurant 560 W Lincoln Highway (Route 30) in Chicago Heights Illinois. I ask you to take some time and put some thought into what you would like to see the Calumet Chapter do in 20132014. Currently we have a clean open slate so let me or any board member know your thoughts about speakers, locations, topics, special events etc. With your help in planning the Calumet Chapter can continue on with another successful 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 markt4121@gmail.com
Color Me Green –March 2013 Crossword Solution
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 markt4121@gmail.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
Officers and Directors 2011—2012 Mark Camarena - President 630-530-6707 (w) markt4121@gmail.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
Brian Guse - Director At Large 219-362-1531(w) bguse@nyb.com
Deb Heim - Treasurer 630-378-6308(w) debra.heim@patterson_medical.com
Yunmi Carrillo - Director of Public Relations 219-218-7904 yunmicarrillo@gmail.com
Adolph Ferber - Vice President of Administration 219-322-5848 (h) adolphferber@att.net Richard Mielcarz Vice President of Communications and New Member Chair 708-799-6234 (h) mycarz17@aol.com Bill Biller - Vice President of Professional Education 219-765-3587 (h) biller6625@comcast.net Anthony Fontana Vice President of Membership Retention 708-534-5000 ext 5494 (w) afontana@ameritech.net Wes Christensen - Corporate and Academic Development 708-687-9087 weswchristensen@comcast.net Al Zurawski Director of Employment and Chapter Photographer and all around awesome guy 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 have a good time!.
Conducting a successful media campaign is paramount in today’s business world. It is a critical element to getting the business name out in front of the potential client, and the elements that get a business to that success are the same as in any other successful project. Like any other facet of business, not adapting with current trends can be devastating to a company. Moving one step forward and two steps back can take a toll on a company, just ask Montgomery Wards. Start By Having a Plan with Goals— Ask yourself some basic questions; what are the goals of your media campaign and how are you going to measure it? For example, #SocialSpec is designed to facilitate crowd sourced building products for the construction industry, and the goal is to get a specified network of building suppliers out in front of the construction industry via Twitter. Once you have the goal specified, then you can design your media strategy to meet that goal. You need to have the audit tools in place to monitor the performance of the campaign. Additionally, using focus tools like Google AdWords or SocialToaster will help you focus even harder on your target audience. Execute— Successful social media campaigns are conducted with a lot of effort. They have to be actively managed, monitored, tweaked, and adjusted based on how you are meeting your goals. Additionally, using tools like MediaBistro will help you focus on the best time to tweet, Post, Pinterest, and Google+. “It’s always about timing. If it’s too soon, no one understands. If it’s too late, everone’s forgotten.” -Anna Wintour, Editor in Chief, American Vogue. Follow Up—The object of a successful media campaign, ultimately, is to engage the client. Once you have their attention, you need to sell them on your product, whatever that product may be. Increased content or a slowly attenuated email campaign as just some of the example you can undertake.
IMA Webinar Save the Date for IMA's free Leadership Academy Webinar Wednesday, June 19, 2013 at 1 p.m. - 2 p.m. ET Embracing Error—The First Step to Quality Forecasting
Presenter: Tony Levy, Business Unit Executive, Business Analytics Software, IBM Software Group Steve Morlidge—Satori Partners Event Description In an increasingly volatile business climate, forecasting has never been more important, or more challenging. Many corporations have to confront the fact that their existing forecasting processes are not fit for purpose: unpleasant surprises are becoming more the norm than the exception. For finance executives seeking new tools and disciplines to mend broken processes, this webinar offers some valuable guidance, in the form of Six Principles of Forecast Mastery, which point the way to a better future. In particular, it will focus on the set of measurement practices that track forecast quality and open the door to speedy improvement.
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
View the full IMA webinar schedule
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
"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
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