The Abstract Issue 2

THE

ABSTRACT

Accounting Magazine

JUNE 2021 / ISSUE 2

INSIDE THIS ISSUE

MESSAGE FROM THE CHAIR Dr. Oksana Kim

THE ABSTRACT Accounting Magazine

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STATEMENT FROM CHAIR

GET TO KNOW THE GA’S

FACULTY NEWS

SENIOR OF THE YEAR SPOTLIGHT

ACCOUNTING CLUB

ACCOUNTING & BUSINESS LAW GOLF OUTING

COB GRADUATION

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Dear Friends, On May 13th, we concluded an important chapter of our lives and wrapped up an almost entirely online academic year. We could never envision having to deliver complex accounting material via a Zoom screen, advising students predominantly by email, and participating in professional development events and research conferences remotely. Our students, faculty and staff displayed remarkable resilience to the challenges presented by the COVID-19 pandemic, for which I could not thank them enough. It was our intention to make the difficult year as “normal” as possible for our students, and I believe we achieved this goal. As the health situation in the country and globally improves, we look forward to the next academic year that we plan to start with a combination of online and face-to-face delivery modes. We invite you to join us for the Meet the Firms event in September 2021, as well as other important initiatives next year that allow our students to grow personally and professionally.

I consider the Spring 2021 semester a success and would like to thank our regional partners for providing so many internship opportunities to accounting students. Combined, the undergraduate accounting program and the MAcc graduate program had 35 students pursuing auditing, tax and other internships this spring, some of which culminated in job offers. All the students, with no exception, noted that their internship experiences were challenging but rewarding and that they are looking forward to the next career steps. Similar to last fall, we continue to attract attention from in-state, out of state, and international students; our undergraduate enrollments in accounting have remained strong, whereas our Master of Accounting enrollments displayed significant growth. We keep on supporting and mentoring several student organizations on campus, including the Accounting Club, Beta Alpha Psi, and National Association of Black Accountants (NABA). These organizations have had unique presenters during the year, one notable example being a session with the Internal Revenue Services (IRS) and FBI agents, our accounting alumni, speaking to the students about professional paths in tax and forensic accounting.

Lastly, we awarded a record number and dollar amounts of accounting scholarships in April, and we thank you for the contributions you made to support the mission of our Department and the accounting program. Our success would not be possible without your generous gifts that allow our students to continue with their plans to complete the accounting degree. We wish you a good summer and hope to see you next year.

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

Get to know the GA’s

Every year the Accounting and Business Law Department hires three to four graduate assistants (GAs) from the Master of Accounting (MAcc) Program. The GAs help by providing tutoring to students enrolled in undergraduate accounting courses, teaching an accounting cycles course, promoting the undergraduate and MAcc programs, and assisting with many special projects. We are please to introduce the GAs for the next academic year.

Forrest Carlson is originally from Cottage Grove,

Lacee Fedeler was born and raised in Madison, South Dakota.

Anastasia Schultz was born in Riga, Latvia and raised in

Anna Hansen was born and raised in Ukraine where she

Minnesota. He went to Fort Lewis College, in Durango, Colorado, and received a Bachelor of Arts in Business Administration. In his free time, Forrest enjoys working out, hiking, photography, and playing video games. Forrest decided to join the Master of Accounting program because he believes that the accounting pathway provides the opportunity to get into an amazing career as well as achieving financial freedom.

Eden Prairie, Minnesota. She completed her undergraduate degree in Accounting at Minnesota State University, Mankato in the Spring of 2021. Anastasia enjoys horseback riding, going to the gym, and traveling in her spare time. She chose the field of accounting due to the numerous opportunities available within the profession and the job security the Master of Accounting program provides to graduating students.

She graduated with honors from Mount Marty University in Yankton, South Dakota with her Bachelor of Arts in Accounting and Business Administration. Lacee spends her free time playing tennis, bowling, drag racing her 1990 Mustang, and petting her cats when she visits home. Lacee chose the Master of Accounting program due to the high CPA exam pass rates of previous students, and she is able to continue playing collegiate tennis.

also completed her undergraduate degree in Economics. After moving to the United States, she pursued additional educational opportunities to learn English and Business, and discovered her enjoyment of accounting. Anna expects to grow her passion for accounting and the business world through the Master of Accounting program at Minnesota State Mankato.

DATES TO REMEMBER FALL 2021 Meet the Firms September 9

COB Graduation December 11

MINNESOTA STATE UNIVERSITY, MANKATO / 3

FACULTY & STAFF NEWS

RETIRING FACULTY LEADER: Dr. Mark DeRemer

Mark DeRemer is an individual who has seen a lot in his career. While only with Minnesota State University, Mankato for 5 years, Mark has spent over 30 years as a professor at numerous exceptional colleges and multiple years in the corporate world. As he approached retirement at the end of this semester, we asked Mark to share some of his best experiences throughout his time teaching and what he is looking forward to in his future.

What are you most looking forward to in retirement?

Well, I am going to take a big leap of faith here and assume travel will be back to something approaching what was normal prior to the past year. If so, my biggest desire is to be free to travel in the non-summer months. Fall is my favorite season and I have of course always had to work for the past 30+ fall seasons.

What was your favorite class to teach and why?

Hunter Thompson once said that half of life is just showing up. My experiences in life would indicate that that is probably pretty correct.

Subject matter wise, I have been fortunate to teach a broad spectrum of courses over my career that I believe are really important for people to know about – financial and managerial accounting, finance, investments, economics and even higher education finance at the graduate level. However, my personal favorite is macroeconomics. I feel like I am performing a public service when I teach it – I believe it to be so important for people to have at least some kind of understanding. But what I enjoy teaching the most is whatever subject the students are most enthusiastic about learning. It is the interest of the students that drives me to try to be my best as a teacher.

What was your most memorable interaction with a student?

What has it meant to be a part of the COB and Accounting Department?

What is one piece of advice you would give to new students?

There have been many positive interactions over the years that I have greatly appreciated, but I don’t have a most memorable one in particular.

What is your favorite life motto?

I don’t really have a life motto, but I appreciate good song lyrics that have impacted me. One is from Bob Marley [Emancipate yourself from mental slavery// None but ourselves can free our minds.] Another one is from Bob Dylan [When you ain’t got nothing, you got nothing to lose.]

Why is studying accounting important?

I think financial accounting provides people with a way to organize their financial situations and managerial/cost accounting has many useful life applications. But I must confess that I rarely view myself as an accountant. I consider myself an educator first and an economist or finance person second. I learned accounting to become a better finance person, and then found myself teaching it. Go figure.

What was your first teaching job?

I was the financial accounting teacher at Concordia University in Austin, Texas. I took the job primarily to go to Austin and found out I liked being a teacher. That was 30 years ago (refer back to that Bob Dylan quote.)

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Well, I would have to say that it is the sheer number of students I can impact, and there is both a good and bad side to that. I had real questions about doing a class of 80 students – that was over double any class I had taught prior to coming here. I would often have a total of 60 students during the entire semester in many of my years teaching. When you are approaching 200 students per semester there is just only so much individual contact you can do.

So, on the one hand I was able to interact with more students, but not at the same level I could with 60.

What was your favorite part of your job?

Teaching, being in the classroom with learning going on.

Hopefully having a positive impact on another human beings’ life. That is why I have kept at this all these years and the part I will miss. The other parts of the job I do not expect to miss that much at all.

How did students influence your work?

They kept it interesting. Working with people and playing a small role in their careers has been very rewarding. I feel fortunate to have more or less fallen into this career.

WHAT FACULTY & STUDENTS HAD TO SAY “Mark joined Minnesota State Mankato late in his academic career. Despite this, he quickly and naturally fit into the accounting and business law faculty. Mark was extremely student focused and worked tirelessly to improve the learning experience of his students. From a faculty perspective, it was refreshing to have Mark’s perspective and input, which was always well informed by his extensive experience. It was impressive that Mark worked tirelessly to improve his knowledge base, through more certifications, even at the end of his career. Mark was a valuable faculty member and will be missed.” – Accounting Faculty “Mark is a warm, supportive and generous soul. He is also a tremendous teacher.” – Accounting Faculty “He always was encouraging for students to consider all of their options in accounting, with the CPA and CMA certifications being the most prominent ones he encouraged.” – Student “Dr. DeRemer was one of my favorite teachers at Minnesota State University, Mankato. He had a lot of real world experience that he was always willing to share and did a great job connecting with the students. I had him for both managerial accounting classes and his passion for the subject made the class a lot of fun.

I enjoyed that he never taught from the book and he would often show you a more efficient and easier way than the book did. One of my favorite memories of him was how he always encouraged students to apply for the CMA scholarship and would help anyone who asked get it. I also liked when he’d share his different experiences and talk about what he did before teaching.

His path to teaching was unique and it showed in his teaching style. He had a very interesting perspective that I appreciated hearing and though he often came off as quiet he was one of nicest professor at Minnesota State Mankato and truly cared whether students were learning or not.” – Student

Senior of the year Spotlight KAITLYN SCHROEDER As Kaitlyn enters her senior year of school, she reflects upon the many opportunities Minnesota State University, Mankato has provided. Within her time on campus, Kaitlyn was able to get involved in the MavPASS program as an accounting leader.

Through this peer-facilitated academic support system, Kaitlyn was able to serve her peers academically by assisting in a historically difficult course. As an athlete on the Women’s Track and Field Team, Kaitlyn was able to prosper in an environment that allowed her to demonstrate her leadership and create life-long friendships. As a result of her dedication, she was able gain experience in her field while completing an internship and obtaining a job offer. Through these roles, Kaitlyn was able to take hold of her future and succeed in ways she never anticipated. Kaitlyn is grateful to Mankato for providing her with these opportunities that have fostered her growth into a confident leader.

WHEN YOU AIN’T GOT NOTHING, YOU GOT NOTHING TO LOSE. -BOB DYLAN

MINNESOTA STATE UNIVERSITY, MANKATO / 5

STUDENT ORGANIZATION SPOTLIGHT

ACCOUNTING CLUB Each year, one of the largest accounting student organizations on campus, Accounting Club, elects new board members to run the organization and continue facilitating networking and outreach opportunities for students. This year we met with Jacob Schumacher, the current club president, to get to know more about him and the how the organization has continued throughout the past school year.

1. What is the purpose or goal of your organization? The purpose of the Accounting Club is to give students in the College of Business more knowledge about the accounting profession. Our main goals include to inviting private companies and firms to provide experience on what working in accounting is like, provide meaningful career development skills, and provide recruiting opportunities for students.

2. Does your club sponsor or host any activities including meetings, networking events, etc.? The Accounting Club meets most Tuesdays at 5:00 PM. Meetings include visits from the MNCPA which gives students great information on registering for the CPA exam. Private and public firms also come to the Accounting Club and actively recruit students for summer programs and internships. Students interested in forensic accounting can also hear about that profession from a forensic accountant who works for the FBI. 3. How has your organization overcome the technological barrier created by the pandemic? The meetings have reduced in size because of Covid-19 and we did not have in person meetings this year. This temporary setback has given students the opportunity to meet with employers in smaller groups to get more personal information from the guests.

4. What is the best way to get in touch with your club with questions? If you have any questions, the best way to get in touch is by emailing me at jacob.schumacher-1@mnsu.edu 5. How does someone join your club? If you go to the University’s Engage webpage you can find the Accounting Club home page and join the organization.

6. Why should an accounting student join your club? There are three reasons for joining the Accounting Club: 1. If you want more information on the profession and want to hear about what an accountant’s professional and personal life look like.

2. If you are a student who is currently looking for internships or summer programs, the Accounting Club is a great way to make connections.

3. If you want to be more involved with the Minnesota State Mankato community as a student.

Jacob Schumacher Major: Accounting Role: President Share your best experience with the club: I would say making connections with classmates and accounting professionals was a great experience I gained. I also received valuable tips on interviewing, resume building, and networking event guidance.

Future Career Plans (if applicable): After graduation, this spring I will start as an Audit Associate at Schwan’s and in the fall, start classes in the MAcc program.

Advice you have for accounting students: Take steps to get out of your comfort zone, because that is where you will grow the most and become a more well-rounded individual.

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Accounting & Business Law Golf Outing On May 14th the Accounting and Business Law Department hosted the 10th Annual Alumni and Friends Golf Event at Shoreland Country Club in St. Peter, MN. Around 100 alumni, friends, and students participated in the 2021 outing. This is a premier event where students participate and network with employers, alumni, and faculty. The golf event is a fun, low pressure golf scramble that is always a nice way to conclude the end of the academic year. Given the remote nature of classroom delivery this year, everyone appreciated the opportunity to enjoy colleagues and the outdoors. Over the years, this event has led to new friendships and internship and employment opportunities

for our students. Nearly every firm and company that recruits our accounting students were represented at the event. We are extremely grateful for all of their continued support and participation. More importantly, we appreciate all of the students that stepped outside their comfort zone and participated in the event. The winning team consisted of Weston Bring (student), Steve Busho (Federated Insurance representative), Noah Koller (student), and Dan Wagner (Federated Insurance representative), shooting a score of 11 under par. We look forward to seeing everyone again next year!

A special thank you to the premier sponsors of our golf event:

Pictured from left to right: Weston Bring, Dan Wagner, Steve Busho, Noah Koller

Pictured from left to right: Abby Rickels, Sean Fingland, Byron Pike, Lance Miller

MINNESOTA STATE UNIVERSITY, MANKATO / 7

CONGRATULATIONS 2021 GRADUATES BACHELOR OF ACCOUNTING / SPRING 2021 Zeynep Akyol Samuel Anderson Clarissa Blake Nicholas Brown Ashley Byrne Alissa Carlson Cathy Carlson Donghong Chen MaKayla Clough Timothy Dayton Kirsten Dols Nathan Dupre

Karisah Dzuris Janelle Forrest Mitchell Froehlich Austin Goor Chad Guse Abigail Haglund Evan Husfeldt Chris Infanzon Koki Inoue Courtney Jarvis Lukas Johnson Stephanie Johnson

Kailee Jorgensen Cameron Kertis Taylor Krienke Benjamin Kubitz James Larson Kahlik Lewis Amina Mohammud Shane Morris Osee Mulumba Enkhmaa Nyam Ochir Brittney Olson Brady Orsten

Kwadwo Owusu Justine Pasker Alexander Paulson Cassidy Possin Naim Ur Rashid Megan Rinehart Abi Saha Trenton Sax Jacob Schumacher Morgan Shindelar Sarah Shogren Kelsey Sohre

Allison Newgard Matthew Osberg Abigail Rickels

Jack Schwartzhoff Amy Tieman Mathew Trecker

Baighley Standinger Kaitlin Sundall Morgan Swenson Isabella Taylor Yeeshai Yang Yao Franck Yao

MASTER OF ACCOUNTING Madison Beaupre Riley Brenden Emily Hilpisch

Kenneth Hyde Luke Mikiska Lance Miller

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. 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 kirsten.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

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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

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