The Abstract

THE

ABSTRACT

Accounting Magazine

DECEMBER 2020 / ISSUE 1

INSIDE THIS ISSUE

MESSAGE FROM THE CHAIR Dr. Oksana Kim

THE ABSTRACT Accounting Magazine

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STATEMENT FROM CHAIR & DIRECTOR

SUCCESS AT THE NEXT LEVEL THE MACC

FACULTY NEWS

STUDENT NEWS

STATE OF RECRUITMENT

COB GRADUATION

NEIL PATRICK BAKER

Dear Friends, As we approach the end of this very unprecedented semester, I would like to express my gratitude for your patience, courage, and dedication to the educational process. Despite the COVID-19 situation that created so many challenges and hardship for all, our faculty, staff, students, alumni and other members of the community stood united and exhibited remarkable resilience to all the difficulties presented by this pandemic. Our faculty members in accounting and business law had endured the burden of transferring a large number of core courses in the online format, all while continuing advising students in regards to educational and professional opportunities, participating in various committees, conducting unique high quality research, and organizing professional events, Meet the Firms being one notable example. We continue attracting significant attention from the professional community and students, as our undergraduate enrollments have remained strong, whereas our Master of Accounting (MAcc) enrollments posted significant growth. Our students are highly sought by public accounting firms and private businesses, despite the economic slowdown, as is evident by the extent of internship and full-time job offers.

As much as we would like to be past this difficult period of our lives, we shall continue doing all the good deeds for which the seeds were planted long before the pandemic. We continue working with diverse student population groups, supporting several student organizations on campus, including the Accounting Club, Beta Alpha Psi, and National Association of Black Accountants (NABA). We established two Allen Lenzmeier endowed professorships thanks to the generous gift of our alumnus, Mr. Lenzmeier, the former President of Best Buy. We keep looking far beyond the next 2-3 years when putting together our long-term goals, and when the pandemic is over, we will turn stronger and better than we were before it. And remember, “everything comes on time for the one who knows how to wait� (L. Tolstoy).

Best wishes, Oksana Kim, Ph.D., FCCA The Allen Lenzmeier Accounting Professor of Leadership & Diversity Chair, Department of Accounting & Business Law

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SUCCESS At The Next Level – The MAcc Dr. Byron Pike

Hello Accounting Alumni and Friends of the Program, This semester has obviously challenged both the students and the faculty at Minnesota State University, Mankato. I’m proud to report that both have risen to the challenge. The students remain dedicated and engaged, no doubt developing skills that will endure over their professional careers. At the same time, the pandemic has forced faculty to rethink their delivery methods and embrace technologies that help students prepare for the real world and future of the business.

As the Master of Accounting (MAcc) Director, I’m pleased to say our program is in high demand and resulting in successful outcomes for our graduates. The program has doubled in the past year! The MAcc consists of both fifth year students obtaining their 150 credit hours along with working professionals that are transitioning into the accounting profession. Our students are in high demand and are consistently passing the CPA exam at extremely high rates.

This academic year the MAcc changed its delivery method from telepresence with locations in Mankato and Edina to online with synchronous components.

Under the new delivery method, courses are a blend of video-conference class meetings, outside of class assignments, and video lectures. This change was to not only address our current unique environment but also as a response to the growing requests for the MAcc to be more flexible. The online synchronous class meetings are used to focus on the high impact learning opportunities, maintain relationships with our students, and develop students’ communication skills. This approach has been so successful that we are continuing with the synchronous online delivery method for the MAcc moving forward.

Let me end by thanking all of the many supporters of our program and our students.

You are the reason that Accounting at Minnesota State is so successful. Please feel free to reach out to me if you want to engage with our students, whether it be through employment, scholarships, or classroom/club presentations.

DATES TO REMEMBER SPRING 2021 COB Graduation May 8

Acct. Golf Tournament May 14

FACULTY & STAFF NEWS

HONORS & PUBLICATIONS ALLEN LENZMEIER ACCOUNTING PROFESSORSHIP

Dr. Byron Pike, CPA has been selected as the Allen Lenzmeier Accounting Professor of External Partnerships. With this position, Dr. Pike will strengthen and grow relationships with companies, re-establish an Accounting Advisory Council and help elevate the program as a premier accounting destination of choice for students and employers in the region. Dr. Pike is Associate Professor of Accounting and the Master of Accounting program director, and an alumnus of Minnesota State University, Mankato.

Dr. Oksana Kim has also been selected as the Allen Lenzmeier Accounting professor of Leadership and Diversity. Dr. Kim will help lead diversity, equity, and inclusion initiatives to increase the recruitment and retention of diverse student groups majoring in the accounting program. Dr. Kim’s research agenda will focus on examining gender and nationality diversity of corporate boards of directors and audit committees with emphasis on emerging markets. She will also be working towards formation of the School of Accountancy and develop a path towards the School’s receiving separate AACSB accreditation in accounting.

Dr. Kim currently is Associate Professor of Accounting and is a certified accoutant (FCCA) specializing on international reporting standards – IFRS.

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THE EFFECT OF AUDIT DUALITY ON AUDIT QUALITY L. Chui, O. Kim, & B. Pike – Journal of International Accounting Research

FEMALE REPRESENTATION ON BOARDS AND CEO PERFORMANCEINDUCED TURNOVER: EVIDENCE FROM RUSSIA O. Kim, F. Kuang, B. Qin – Corporate Governance: An International Review

STUDENT NEWS

STUDENT ORG SPOTLIGHT

National Association of Black Accountant’s (NABA) – “The National Association of Black Accountant’s (NABA) MNSU chapter has hosted two meetings thus far this semester and plans to hold its third meeting soon. On September 17th, NABA hosted its annual “Meet the Board” event to kick-off the semester and help introduce prospective members to the organizations newly chartered chapter.

During the meeting students were introduced to the chapter’s leadership for the academic year, previewed the benefits of chapter membership, and networked with various faculty and students in attendance. On October 14th, NABA hosted its “Navigating Corporate America” event in partnership with Best Buy. In addition to networking, students were exposed to a bit of Best Buy’s culture, work-life balance, and available intern and full-time employment opportunities.” –Kwadwo Owusu, NABA MNSU Chapter President

STUDENT EVENTS

Meet the Firms Accounting and Finance Career Fair – On September 10th, 2020 the Accounting & Finance departments joined together to host a virtual Meet the Firms career fair. This year there were 29 firms and 236 students in attendance which grew upon 2018 and 2019 student attendee figures. Over 95% of students who participated rated the event above average in value and joined in on 389 1-on-1 meetings with employers.

We’d like to thank our participating employers including...

• • • • • • • • •

Abdo Eick & Meyers Baker Tilly BDO USA LLP BerganKDV Boeckermann Grafstrom & Mayer Boulay PLLP Boyum & Barenscheer CarlsonSV Christianson PLLP

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CliftonLarsonAllen Copeland Buhl Cummings, Keegan, & Co. Eide Bailly Federal Deposit Insurance Corporation (FDIC) Federated Insurance Grant Thorton HG&K Ltd. Hormel Foods

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LB Carlson Lurie LLP MRA Associates Murry & Associates Northwestern Mutual Redpath & Company Robert Half RSM US LLP Smith Schafer & Associates

MINNESOTA STATE UNIVERSITY, MANKATO / 5

STATE OF RECRUITMENT

CPA EXAM PASS

4th

Ranked out of 28 schools in Minnesota for CPA passage COB Pass Rate:

67.3%

2019 MN overall pass rate: via MN Society of CPAs

2018 - 2019 Accounting Undergraduate Respondents

2018 - 2019 MAcc Placements 8

15

6

10

4

5 0

53.3%

2 Corporate

Small Firm

Mid-Tier

Big 4

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Government

0

Corporate

Small Firm

Mid-Tier

Big 4

Government

CONGRATULATIONS 2020 GRADUATES BACHELOR OF ACCOUNTING / SPRING 2020 Khalid Aharrouch Zeynep Akyol Oscar Alvarez Carl Anderson Gillian Anye Jessica Ault Michael Bealke Madison Beaupre Adam Bobka Riley Brenden Michael Carriveau Katherine Cronk

Dalton Droegemueller Noah Hallbeck Terri Harris Ryan Heilig Alexander Hoehn Ashley Horejsi Jadie Johnson Dulanji Anjalee Karunarathna Maria Klimisch Mohamed Konate Grant Krall

Kevin Krieger Long Lam Juwon Lee Collin Lindquist Casey Lynch Kallie Majeski Thomas Mantor Marisa Martinez Mitchell Mathews Luke Mikiska Lance Miller Karin Miyata

Samuel Mueller Marina Olson Matthew Osberg Sionseme Ouattara Rylie Parman Anou Philavanh Alyssa Quist Alina Ramjali Johanes Rantetana Luke Ranum Tanner Reinhardt Nathan Reynolds

MASTER OF ACCOUNTING

CERTIFICATE OF TAXATION

Zachary Benzkofer Edward Conley Jacob Delesha Parker Erickson Nathan Lee

Samuel Larson

Abigail Meyer Abdullah Siddique Samantha Tramp Shannon Veeraboina

Abigail Rickels Franklin Sammah Matthew Sarff Jack Schwartzhoff Brooke Scouton Leah Serbus Olatoun Shokunbi James Swenson Raissa Toure Michael Wagner Melanie Yang Kelsi Zyvoloski

BACHELOR OF ACCOUNTING / FALL 2020 Kyle Bartz Morgan Biesterfeld Reid Buschmann Kanyon Fellers Annika France Parker Gloudemans Chad Guse

Taylor Heavner Courtney Hentges Emily Hilpisch Chloe Johnson Sarah Kluver Lorenarath Kol Pao Lor

Thomas Mantor Sawyer Mies Lincoln Mlsna Emily Muetzel Tyler Norgord Enkhmaa Nyam Ochir Justine Pasker

Megan Peglow Jacob Perry Andrew Rannow Abi Saha Kelsey Sohre Chandler Stortz Daniel Tacheny

Nick Malla Kaithlyn Totushek Ethan Wang

Ashley Wiltrout

Jordan Thomas Ashley Tolifson Kaylie Voigt Mitchell Weidner Katherine Willinganz Taylore Woodfill

MASTER OF ACCOUNTING Kristin Ameluxen Angela Bischel Edward Conley

Yana Hanel Robert Macaulay Kallie Majeski

MINNESOTA STATE UNIVERSITY, MANKATO / 7

In Memoriam: Neil Patrick “Pat” Baker Neil Patrick “Pat” Baker was a 1992 alumnus from Minnesota State University, Mankato, receiving his degree in accounting from the College of Business. He spent 28 years in the accounting profession, mostly working as a CPA for the Wolf Etter & Company firm out of Madelia. That firm would later become Eide Bailly in Mankato. Pat was married to fellow COB alumna Pamela Baker, and they had four daughters together, Alexa, Hayley, Grace, and Liza.

Pat was very active in assisting with the recruitment of Minnesota State University, Mankato accounting students to Eide Bailly, and he was a loyal supporter and generous donor to the University. Pat died unexpectedly in August of 2020. To honor his memory and his passion for supporting accounting students, Pat’s family and friends started the N Patrick Baker Accounting Scholarship to provide a scholarship each year for a student studying accounting at Minnesota State University, Mankato.

For those interested in making a contribution to the scholarship fund honoring Pat, please go to http://engage.mnsu.edu/NPatrickBaker or call 1-800-662-2705.

Full-time Accounting & Business Law Faculty Dr. Paul Brennan paul.brennan@mnsu.edu 507-389-5415 Wade Davis, J.D. wade.davis@mnsu.edu 507-389-2207 Dr. Mark DeRemer mark.deremer@mnsu.edu 507-389-5093 Dr. Abo-El-Yazeed Habib abo-el-yazeed.habib@mnsu.edu 507-389-5408

Dr. Steven Johnson steven.johnson@mnsu.edu 507-389-2760 Dr. Oksana Kim oksana.kim@mnsu.edu 507-389-5411 Vicki Luoma, J.D. vicki.luoma@mnsu.edu 507-389-1916 Dr. Connie O’Brien connie.obrien@mnsu.edu 507-389-5412

Dr. Byron Pike bryon.pike@mnsu.edu 507-389-6909 Dr. Kirsten Rosacker kristen.rosacker@mnsu.edu 507-389-5413 Dr. Ferdinand Siagian ferdinand.siagian@mnsu.edu 507-389-5407 Sean Fingland sean.fingland@mnsu.edu 507-389-5388

To learn more about the Accounting & Business Law Faculty or to get in touch go to cob.mnsu.edu/accounting-faculty #mavbiz

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An Affirmative Action/Equal Opportunity University. This document is available in alternative format to individuals with disabilities by calling the College of Business at 507-389-5420 (V), 800-627-3529 711BUSINESS (MRS/TTY). THE ABSTRACT / COLLEGEorOF