The Iowa Ledger

A Magazine for Friends of the Tippie College of Business Department of Accounting

Fall 2015

Mission Statement The national prominence of our department stems from the reputation for excellence of our programs and research of our faculty. A primary goal is to provide undergraduate and Master of Accountancy students with a broad and deep educational experience that will facilitate their professional growth.

This objective entails providing students with a strong technical foundation in core accounting competencies; developing their skills in critical thinking, analysis, and communication; and fostering an awareness of ethical matters and a sense of professional integrity and judgment. We also seek to educate students from other departments in a manner that enables them to become informed users of accounting information.

We aim to cultivate the future leaders in the academic community by training and working with doctoral students.

Promoting the research enterprise, which requires faculty to update their professional skills continually by participating in the creation and dissemination of accounting knowledge, is critical in its own right and in accomplishing our curriculum goals.

ACCOUNTING FACULTY AND STAFF Amy An Lecturer

H. Scott Asay

Assistant Professor

Ramji Balakrishnan

Carlson-KPMG Research Professor of Accounting Director, McGladrey Institute of Accounting Education and Research

Joyce Berg

Sidney G. Winter Professor of Accounting Director, Iowa Electronic Markets

Thomas J. Carroll

Cristi Gleason

Associate Professor Henry B. Tippie Research Fellow

Robert Hartman Lecturer

Paul Hribar

Leonard A. Hadley Research Professor of Accounting Director, Ph.D. Program in Accounting

Kimberly S. Klein

Department Administrator

Kevin S. Markle

Assistant Professor

Lecturer and Director, M.Ac. Program

Samuel Melessa

Daniel Collins

Richard Mergenthaler

Assistant Professor

Professor and Department Executive Officer Henry B. Tippie Research Chair in Accounting

Assistant Professor Ernst & Young Research Fellow

Douglas DeJong

Adjunct Lecturer

Mary Murphy

Professor Lloyd J. and Thelma W. Palmer Professor of Accounting

Mark Penno

Kevin J. Den Adel

Jaron Wilde

Lecturer and Director, Accounting Undergraduate Program

Lisa Dutchik Lecturer

Carl Follmer

Assistant Director, Accounting Writing Program

Professor Ray William Shearman Research Fellow Assistant Professor

The Iowa Ledger is an annual publication for alumni and friends of the Department of Accounting, Tippie College of Business, University of Iowa.

Editor Misti Huedepohl misti-huedepohl@uiowa.edu

Department Executive Officer Daniel Collins daniel-collins@uiowa.edu

Designer Amy Belice Graphic Design

Contributing Writers Ramji Balakrishnan Dan Collins Kevin Den Adel Lesanne Fliehler Paul Hribar Ruth Paarmann

Gateway program students pose with the Graduation Herky statue. Alumnus Steven Belyn and wife Pamela lend great support to bring underrepresented students to the Tippie College of Business. See page 22.

Contributing Photographers Amy An Misti Huedepohl Joe Photo/IMPACT Photo Alex Kroeze Felix Rivera Negron Brooke Paulsen Sloane Tyler

FEATURES 8

Student’s pedal passion leads community sustainability initiative

Contact Us Your feedback is always welcome!

Direct correspondence to: Misti Huedepohl Editor, The Iowa Ledger S208 PBB University of Iowa Iowa City, IA 52242-1994 Phone: (319) 335-1554 misti-huedepohl@uiowa.edu

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Chris Hoffman Named Outstanding Alumnus An alumnus committed to the UI and professional excellence

16

Investing in Communication Clarity Accounting writing program provides competitive advantage

Address Changes

Email: alumni-records@uiowa.edu U.S. Mail: Alumni Records, UI Alumni Association, 100 Levitt Center for University Advancement, University of Iowa, Iowa City, IA 52242-1797.

Gearing up for Bike Sharing

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Income-shifting Activities of Multinationals Tax research that gets noticed

Cover photo: Graduation Herky on the University of Iowa Pentacrest, by Alex Kroeze.

HIGHLIGHTS The University of Iowa prohibits discrimination in employment, educational programs, and activities on the basis of race, creed, color, religion, national origin, age, sex, pregnancy, disability, genetic information, status as a U.S. veteran, service in the U.S. military, sexual orientation, gender identity, associational preferences, or any other classification that deprives the person of consideration as an individual.

The university also affirms its commitment to providing equal opportunities and equal access to university facilities. For additional information on nondiscrimination policies, contact the Director, Office of Equal Opportunity and Diversity, the University of Iowa, 202 Jessup Hall, Iowa City, IA, 52242-1316, 319-335-0705 (voice), 319-335-0697 (TDD), diversity@uiowa.edu. W18004/11-15

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Letter from the Chair

20

Exploring New Ideas

3

Preparing for Tomorrow

26

Building a Better World

Applying Accounting

30

Honor Roll

10

Tippie College of Business

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From the Chair

Building for the Future DEAR ALUMNI AND FRIENDS of the department: In last year’s chairman’s letter I talked about all the building that was going on across campus as the University recovered from the devastating flood of 2008, and the department’s plans for building for the future as part of the University-wide $1.7 billion For Iowa. Forever More. campaign. The campus rebuilding has come a long way in one year.

Evidence of this is the picture (shown above) of the new Hancher Center for Performing Arts, which is scheduled to open in fall 2016. This stunning venue will attract outstanding theatrical, dance and musical artists from all over the world. I can’t wait for it to open. I hope you will plan to return to campus and take in a performance at this outstanding new venue.

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The Iowa Ledger

With the help of our alumni and friends, the department has secured funding that will enhance our department’s programs and mission. I’d like to share with you how private support has helped us to build for the future. The writing program in our department is recognized by the Association to Advance Collegiate Schools of Business (AACSB) as a model program for the accounting academic community. The AACSB Peer Review Team noted in its most recent report “the writing program in the accounting department has created a significant advantage for graduates of the University of Iowa’s program.” A generous $1 million gift from Bob, 1980 BBA, and Kathy Nicolls has provided an endowment to fund a full-time writing director for our writing program.

Carl Follmer joined our team in July and has started several initiatives to strengthen and expand the scope of this program.

More about Carl and our writing program can be found on pg. 16-19 of this year’s Ledger.

Securing funding for supplemental fellowships for accounting doctoral students was a major initiative mentioned in last year’s chairman’s letter. Funding provided by the state for doctoral students is woefully inadequate. I’m delighted to report that several individuals and firms have made significant five-year pledges to support this effort. Our thanks goes out to Dave and Lavon Kirkpatrick, Terry and Mary Warfield, Howard and Leslie Toole, our alumni friends at PwC and Deloitte, and 15 former accounting Ph.D. students for providing fellowship support for our doctoral students.

Research is a vital part of our mission.

Our accounting faculty ranks in the top 25 departments in country (top 10 among state schools) in terms of research published in top-tier accounting journals.

Securing summer research funding for assistant and associate professors in our

department was a top priority entering this year. Again, our alumni have stepped forward to help us on this front. Dale, BBA68, and Linda Baker have provided a $2 million gift for unrestricted use in the college. Dean Sarah Gardial has indicated that these funds, along with the matching gift from Henry, BSC49, and Patricia Tippie, will be used to provide summer research support for faculty in accounting as well as other departments in the college. We are also grateful to our alumni at PwC and E&Y for providing summer research fellowships for two of our faculty.

Although we have made major strides over the past year in securing private funding for the initiatives noted above, more remains to be done. A major initiative in the college is to increase the diversity of our student population. Academically gifted minority students typically receive some type of scholarship support from other schools.

Over the coming year, I will be working to secure private support for recruitment of minority students into our undergraduate and M.Ac. programs.

I hope you will see fit to help us build for the future by contributing to the department’s mission as part of the For Iowa.

Forever More. campaign. Your gifts can be directed to the Accounting Department Gift Fund or any one of a number of other department funds at the UI Foundation.

Thank you and best wishes.

Dan Collins Department Executive Officer, Department of Accounting Henry B. Tippie Chair in Accounting Research

Preparing for Tomorrow Beta Alpha Psi Officers 2014-2015 Melissa August, President Jacob Kruse, Vice President Chun-Ting Yang, Vice President of Reporting Kaiyan Xu, Assistant Vice President of Reporting Yue Li, Treasurer Zachary Digmann, Assistant Treasurer Wenxin Ding, Vice President of Internal Networking

First-Place Finish Congratulations to the Alpha Pi Chapter of Beta Alpha Psi who won first place in the Regional Best Practices Competition. The team of Melissa August, Cheng Sun and Yi Wu was asked to deliver an 8-minute presentation on the subject of international impact. Their presentation highlighted how the Alpha Pi Chapter has brought global perspectives to its members.

The winning team advanced to the international competition.

Yi Wu, Vice President of External Networking Kaleb Moser, Vice President of Community Service Didi Xie, Assistant Vice President of Community Service Sarah Hussong, Vice President of Communications

Beta Alpha Psi is the international honorary accounting organization. Membership is open to all accounting majors who have been admitted to the Tippie College of Business and have met grade-point and service requirements.

Beta Alpha Psi Presentations Beta Alpha Psi welcomes accounting firms and businesses to present on relevant topics at monthly meetings. Presentations scheduled in the fall semester include:

McGladrey Choosing a public accounting line of service

PwC Networking event Ernst & Young Cyber security

Deloitte PepsiCo Networking in a profesRockwell Collins sional setting Ernst & Young Breakfast

Mueller CPA Iowa Society of CPAs Tippie College of Business

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Preparing for Tomorrow PROFESSIONAL PROGRAM SUMMARY CPA Exam Performance Summary University of Iowa Accounting students continue to do well nationally on the CPA Exam.

Here is a summary of performance for the 2014 calendar year (most current data available): • 74% pass rate for first-time candidates which rates: • 23rd overall in the United States for large programs (at least 60 candidates).

• 3rd overall among Big Ten institutions.

• Highest of the State of Iowa’s public universities.

• Significantly higher than the 55% national first-time pass rate.

Kevin Den Adel, PhD99, lecturer, appears with Ryan Gean, Tasha Stamps and Charlie Knipper. Den Adel was named to the ISCPA board of directors. Gear is an analyst at Barclays Investment Bank in New York City; Stamps works in tax at McGladrey in Iowa City; Knipper is a tax consultant at Deloitte in Chicago.

CPAs Recognized The Iowa Society of CPAs recognized three Tippie alumni at its annual meeting last spring. Tasha Stamps, BBA13, M.Ac.14, received the ISCPA Capstone Award for placing in the top 1% of all successful CPA Exam candidates in Iowa in 2014, just one of three recipients to receive this honor. Ryan Gean, BBA13, and Charlie Knipper, BBA13, received the ISCPA Certificate of Excellence for placing in the top 3%.

This continues our good performance rates for the past few years.

For the 2011-2014 calendar years: • 73% pass rate for first-time candidates, which rates: • 3rd overall among Big Ten institutions.

• Highest of the State of Iowa’s public universities.

• Significantly higher than the 54% national first-time pass rate.

2014 First-time CPA Exam Performance

School

Number of Number of Candidates Exam Sections

BIG TEN CONFERENCE: Wisconsin

187

Percent Passed

Average Score

(Pass = 75)

553 87.3% 84.4

Michigan

110 306 82.7 82.9

Iowa

165

378

74.3

80.0

Michigan State

339

724

73.9

78.8

Indiana

437 1,068 71.5 78.5

Illinois

606 1,609 66.9 76.9

Nebraska

103 214 65.9 77.8

Minnesota

179 397 65.5 77.5

Ohio State

361

789

65.5

76.6

841

65.2

75.8

Penn State

388

Maryland

196 397 63.0 75.8

Rutgers

463 769 50.2 70.5

Purdue

189 401 49.9 72.1

Weighted Average*

67.4%

77.2

77.6

IOWA PUBLIC UNIVERSITIES: Northern Iowa

74

240

65.8%

119

231

45.5

70.7

National Average

136,288

55.0%

72.6

Iowa State

*Weighted by the number of exam sections taken.

Source: 2014 Uniform CPA Examination Candidate Performance, Appendix C, National Association of State Boards of Accountancy (NASBA), published 2015.

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The Iowa Ledger

74% first-time pass rate

Accounting Club

2014 First-time CPA Exam by Section

School

% Passed AUD

BIG TEN CONFERENCE: Wisconsin Michigan Iowa

% Passed BEC

% Passed FAR

% Passed REG

Accounting Club is designed to help first and secondyear students discover the potential of an accounting degree. All business students are invited to attend Accounting Club information sessions to help them better understand the accounting major and the accounting profession.

Students who join Accounting Club feel more prepared for the career events that occur during the first 7 weeks of the year for declared majors.

86.5% 97.1% 87.1% 78.6% 76.0 95.6 84.8 76.3 68.8

91.4

69.5

67.8

Michigan State

67.2 88.1 69.2 72.3

Indiana

60.6 87.6 76.2 62.5

Illinois

64.5 81.6 63.3 58.5

Nebraska

58.5 83.3 54.2 68.8

Minnesota

54.6 83.2 67.0 55.9

Ohio State

59.6 77.2 65.0 58.7

Penn State

56.8 74.5 60.9 70.1

Maryland

57.6 83.7 60.0 52.5

Rutgers

43.3 61.9 48.1 48.1

Purdue

41.0 66.0 46.7 45.7

Weighted Average*

61.2%

81.4%

65.3%

62.0%

IOWA PUBLIC UNIVERSITIES: Northern Iowa

62.9 66.1 67.7 66.7

Iowa State

35.6 66.7 39.1 39.6

Definitions: AUD = Auditing and Attestation BEC = Business Environment and Concepts (Mgmt. Acct., Finance, Economics, Info. Syst.)

FAR = Financial Accounting and Reporting REG = Regulation (Tax, Business Law) *Weighted by the number of exam sections taken in each area (AUD, BEC, FAR, REG).

Source: 2014 Uniform CPA Examination Candidate Performance, Appendix D, National Association of State Boards of Accountancy (NASBA), published 2015.

The five-person team of Lindsay Horton, Logan Sump, Jacob Kruse, Zachary Digmann and Carolyn Beese represented the University of Iowa in Westlake, Texas.

Deloitte National FanTAXtic Competition We are happy to announce the University of Iowa team of Carolyn Bees, Zachary Digmann, Lindsay Horton, Jacob Kruse and Logan Sump were one of only nine teams selected to advance from the regional level to compete at the national competition at Deloitte’s National FanTAXtic competition.

Last January, Amy An, lecturer, accompanied the team to Deloitte University in Westlake, Texas, where they represented the University of Iowa. Congratulations to this group of hardworking students.

Tippie College of Business

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Preparing for Tomorrow

Ph.D. Program How time flies! It’s already been a year since I last wrote about the highlights of our Ph.D. program. It is a beautiful time on campus, with crispness in the air and plenty of sunshine. With the start of the new semester, students have returned to campus, and Iowa City has been rejuvenated with the energy of thousands of undergraduate and graduate students. Of course, our Ph.D. students never left, as this is a yearround program, and summer is one of the best times to make progress on their research.

I have just completed my first year as director of the Ph.D. Program in Accounting. Although it is small in size, our Ph.D. program continues to be a source of pride for us.

This fall, we welcomed one new doctoral student into the program. Jonathan Medrano received his undergraduate and master’s degrees in accounting from Utah State University. Jon completed a tax internship at Allred Jackson PC in Logan, Utah, and enjoyed Jonathan Medrano corporate and partnership return preparation. Jon’s research interests are in tax and financial accounting using empirical, archival methodology. Jon and his family of five are excited to be in Iowa and they love it here. Jon particularly enjoys the rolling hills when he gets time to tour on his motorcycle. His kids love Herky, and the whole family enjoys the opportunities available at the 6

The Iowa Ledger

University of Iowa. Go Hawks!

Because accountants like to keep things balanced, we also graduated one doctoral student last year.

Ciao-Wei Chen completed the program and accepted a position at the University of Washington in Seattle.

Ciao-Wei defended his dissertation titled “The Disciplining Role of Financial Statements: Evidence from Mergers and Acquisitions of Privately Held Targets.” Ciao-Wei shows that when companies know that they will have to disclose the financial statements of private companies that they plan to acquire, they tend to make better acquisition decisions.

We hope to graduate three to five Ph.D. students this year, which is a large graduating class for our program. This adds to the large base of Iowa alumni who are professors at top research universities across the country.

Currently 11 students are in our program, and we will have one visiting student in both the fall and spring semesters. My office is across the hall from two of our student offices, and I constantly hear them debating research papers, discussing new ideas, and giving each other feedback on their research. Steven Savoy, a fifth-year doctoral student who holds the Deloitte Foundation Doctoral Fellowship, received the American Accounting Association/ Grant Thornton Doctoral Dissertation Award for Innovation in Accounting Education. Olivia Johnson, a fourth-year student, received the university-wide Council on Teaching’s Outstanding Teaching Assistant Award. Several of our current students also made presentations or served as discussants at the American Accounting Association annual meeting in Chicago, Illinois.

It has also been a productive year for some of our Ph.D. alumni in non-research areas. Michelle Nessa PhD14, who is on the faculty at Eli Broad Business School at Michigan

State, welcomed a new addition to her family, a baby boy named Lincoln. Not to be outdone, Andrew Acito, PhD11, who is also on the faculty at Michigan State, welcomed twins into his family (one boy and one girl). Congratulations to both of you and your families! (See these adorable babies on page 13.)

Finally, I want to express a sincere thank you to alumni and friends who contributed to the Ph.D. Program and who help it continue to be one of the top programs in the country. We currently have two funds that provide direct support to the Ph.D. Program in Accounting. The Iowa Accounting Ph.D. Fellowship Fund provides supplemental fellowship support to our doctoral students, which helps us recruit students and compete with the top Ph.D. programs at other public and private institutions. This fund was launched by a generous gift from a non-Ph.D. alumnus and has since received contributions from many of our outstanding Ph.D. alumni. We also have the Accounting Ph.D. Support Fund, which provides funding for travel and other supplemental expenses for our Ph.D. students. Anyone wishing to contribute to either of these funds can do so by sending a check to the department and designating either “Ph.D. Fellowship Fund” or “Ph.D. Support Fund,” or can contribute online at www.givetoiowa.org/accounting.

Thank you all for your continued support of our nationally ranked Ph.D. program. It is something we are extremely proud of, and your support allows us to train and graduate the best and brightest future accounting professors.

Paul Hribar

Director, Ph.D. Program in Accounting Leonard A. Hadley Research Professor of Accounting

THE YEAR IN REVIEW Iowa Ph.D. Alumni Receive National Recognition We are happy to announce the accomplishments of the alumni of our doctoral accounting program.

Dave Burgstahler, PhD81, has been named the American Accounting Association president for the 2016-2017 term. Burgstahler is professor of accounting at Foster School of Business at the University of Washington.

McGladrey Institute of Accounting Education and Research The McGladrey Institute of Accounting Education and Research fosters excellence in accounting education and research at the University of Iowa by encouraging and participating in the creation and dissemination of knowledge in the academic, business and government communities. The institute continues to serve as a vital resource for accounting education and research opportunities at Iowa.

PRESENTATIONS

BY EXTERNAL SPEAKERS AT THE PwC WORKSHOP (2014-2015)

NATIONAL SPEAKER SERIES

Sarah Zechman University of Chicago

This event is an opportunity for our students to learn about the latest in accounting thought from prominent accounting experts. This year we were fortunate to be able to host Professor Steven Zeff, who holds the Keith Anderson Professorship at Rice University. A noted historian of accounting education and thought, Professor Zeff gave his perspectives on the political influences in the development of U.S. accounting standards.

Tracing the history of standards from mid-century, he showed how self-interested lobbying actions (taken mostly by preparers but also by government) have intervened in the setting of accounting standards and introduced factors that go beyond purely accounting considerations. A brisk Q&A session followed.

About 150 students attended this session.

PRICEWATERHOUSECOOPERS ACCOUNTING RESEARCH WORKSHOPS

John Phillips, PhD99, received the Ray M. Sommerfeld Outstanding Tax Educator Award from the American Tax Association. The Sommerfeld Award was created to remember Professor Ray M. Sommerfeld, who was a founding member of the ATA. Phillips is association professor and director of the Accounting Ph.D. Program at the University of Connecticut.

These research workshops continue to be an integral part of Ph.D. and faculty education in the Department of Accounting.

These workshops allow us to bring prominent scholars to Iowa City to present their research, which helps the department maintain a vibrant intellectual climate. The department thanks the Iowa alumni of PricewaterhouseCoopers for their ongoing support of this crucial activity. Speakers are listed at right.

Steven Zeff Rice University Leslie Robinson Dartmouth College Eva Labro University of North Carolina Sugata Roychowdry Boston College Clare Wang Northwestern University Kathryn Kadous Emory University Brad Baderstcher Notre Dame Shana Clor-Proell Texas Christian University Karen Nelson Rice University

RESEARCH FUNDING Despite tight budgets, the institute strives to support faculty in their research efforts via funding requests for data and providing summer stipends. The institute supported a research grant of $10,000 for data, requested by two junior members of the faculty.

PLANNED EVENT After a hiatus, we plan to begin the Sidney Winter Lecture Series next year with a celebration of our Ph.D. program. This event is scheduled for October 14-15, 2016, and will feature talks by six of our alumni. It also provides a unique opportunity to renew old friendships and to forge new working relationships.

We will be inviting all alumni of our doctoral program and all previous members of the faculty to this exciting event. Watch your email for details!

Tippie College of Business

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Gearing Up for Bike Sharing Accounting student shares business know-how and bike passion with Iowa City community Iowa City comes alive each August when more than 30,000 students become immersed in the community for the academic year. Although some bring automobiles with them, many make the decision to leave their cars at home and opt to travel using Cambus, by foot, or bicycle.

Willy Tan, of Marshalltown, Iowa, didn’t bring a car to college because he prefers two wheels to four and he’s working to make bikes more accessible to students and the Iowa City community.

“Iowa City is a bike-friendly place and I’m interested in putting more bikes on the streets, and fewer cars,” he says.

Willy is a student intern at the UI Office of Sustainability and he’s already applied the knowledge he’s acquired in his accounting courses to help his employer. He also hopes to make a positive impact on the environment.

Over a year ago a friend suggested Willy apply for the internship at the Office of Sustainability because he thought the office could benefit from Willy’s love of numbers and business

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The Iowa Ledger

sense as campus sustainability leaders were applying for a grant from the Iowa Department of Transportation to create a bike-sharing program.

“I conducted research for three to four months to help with the grant proposal and business plan. I applied what I’d learned in my Cost Accounting coursework to price out the system,” he says.

Willy’s contributions paid off when the Iowa Department of Transportation approved the grant for $135,300 to help fund a bike-sharing program.

He assisted with a second grant application from Coca Cola, which was approved for $50,000.

The proposed bike-sharing program will have three or four bike stations across campus and 10 to 15 bikes in each station.

Organizers are considering a kioskbased system where bikes are docked, checked out, and returned to another docking station in the community. Also under consideration is a model where users would pay an annual fee then have the ability to check out a bike one

hour at a time. If the bike is returned within the hour, there is no fee to the user.

The University of Iowa is collaborating with the City of Iowa City on this project. The city is changing its roads and ordinances to benefit bike riders. This city is also helping to fund the bike-sharing program.

“My hope is that students who are unable to bring a bike with them to college can use this program as a resource,” he says.

Willy’s passion for bikes runs deep.

He’s not only business smart, but he’s mechanically inclined, too—so much so, that he built his own bike from scratch in a UI course, Handbuilt Bicycles I and ll. He uses it to travel across campus daily. He even displayed his creation at the North American Handmade Bicycle Show in Louisville at the encouragement of

Professor Steve McGuire at the School of Art & Art History.

“My sister asked me to build a bike for her, so I am working on it now,” says Willy. He plans to show this bike at the handmade bike show in Sacramento next summer.

He shares his mechanical abilities by volunteering at the Iowa City Bike Library where he reconditions donated bikes and is available to assist community members who rent a work bench and tools to make repairs.

When Willy isn’t studying, working or repairing, he’s an active member of Beta Alpha Psi accounting honors organization. Last tax season, he prepared over 40 tax returns for the Volunteer Income Tax Assistance (VITA) program and served as a leader at the VITA service sites.

“Willy was so exemplary as a Beta

Alpha Psi student,” explains Professor Joyce Berg, Beta Alpha Psi faculty advisor, “he was one of only seven members recognized with superior member distinction last year.”

Willy wasn’t the first in his family to choose accounting as a major.

He’s following in his older sister’s footsteps. Wendy Tan, BBA13, completed a degree in accounting and advised him to consider doing the same because she said the skills he acquires in accounting will apply no matter where he goes. Wendy works at Cessna Aircraft Company in Wichita, Kansas. Willy’s younger sister, Wynn, is also majoring in accounting and is currently in her third year.

After spring graduation, Willy will join the tax team at Deloitte in Minneapolis. He plans to take the CPA Exam over the summer before he starts working for Deloitte.

Fourth-year accounting student Willy Tan volunteers at the Iowa City Bike Library where he helps to salvage donated bikes.

Applying Accounting

Carribbean Connection Jorge Garcia maintains Midwestern ties

Jorge Garcia, BBA94 Senior Vice President, Corporate Comptroller Popular Inc.

10 The Iowa Ledger

When he was 14, Jorge Garcia’s family relocated from his homeland of Puerto Rico to Council Bluffs, Iowa. Although he remembers the transition as a challenging time, he is glad Iowa is a part of his history.

“An education at a public school in Iowa is much different than the public school system in Puerto Rico,” explains Garcia, who attended a private school in Puerto Rico. “Nevertheless, I received some clear advantages in Council Bluffs.”

Those advantages continued into his second year at the University of Iowa when he encountered his first

accounting course and found the subject immediately made sense; the coursework appealed to his analytical nature.

Garcia recalls great job-placement support long before he finished his accounting degree.

“I had access to firms and assistance throughout the interview process. It’s something the university really did well and continues to excel in,” he says.

He had multiple job offers and in his senior year, he already knew his career would begin at Price Waterhouse LLP in 1994.

Professional Accounting Council 2014-2015 In 1997 he joined Cumulus Media Inc., a start-up in the radio industry that completed an initial public offering in 1998, as assistant controller of acquisitions. From 2000 to 2004, Garcia lived in Anguilla, British West Indies, where he was director of finance and general manager of Caribbean Cable Communications Holdings Ltd. “Early in my career, I was afforded opportunities to be a part of some challenging situations. The type of defining moments in which you build and value your integrity,” he says.

He was hired at Popular in 2005 when he joined the corporation as chief financial officer of its Illinoisbased financial services subsidiary, Popular Cash Express Inc. Today he is senior vice president and corporate comptroller for Popular Inc., where he leads the accounting and finance group for the holding company and its subsidiaries. Popular is a diversified publicly owned financial holding company traded on the NASDAQ stock exchange, with approximately $37 billion in assets and operations in Puerto Rico, the U.S. mainland and the Caribbean.

His role at Popular is heavily focused on accounting and technical/ transactional knowledge. But Garcia was surprised to find he spends about 20 percent of his time on talent management.

“I’ve come to realize that creating and sustaining an environment to foster the growth and development of our talent will have a bigger impact on Popular,” he says.

After living outside of Puerto Rico for 26 years, Garcia and his family moved back to his homeland in 2012, but he still carries a Midwestern work ethic in all he does. He has served as a member of the Professional Accounting Council since July 2014.

Brian Becker

Professional Accounting Council News The Professional Accounting Council (PAC) represents public accounting, private industry, academia, government and notfor-profit sectors, and it provides an invaluable link between the Department of Accounting and the professional community.

In September, the PAC assembled at the Tippie College of Business where the group explored the undergraduate program curriculum. This included new online accounting course offerings, undergraduate recruitment and the Pathways Commission Report on Higher Education by the American Institute of CPAs and the American Accounting Association and the implications for undergraduate education.

The 2015-2016 council has 18 members and Stephen Belyn (BBA91) is president. The next meeting will be held on campus in April 2016.

National Team Leader, Technology & Management Consulting McGladrey LLP

Stephen Belyn

Managing Director FTI Consulting Inc.

Steven Buesing

Vice President & Controller, Commercial Systems Rockwell Collins

Kyle Cannon

Partner Ernst & Young LLP

Joe Ceryanec

Vice President and CFO Meredith Corporation

Tiffani M. Conrey

CFO and Treasurer Skogman Companies

Gregory C. Ellison

Resident Partner Banks, Finley, White & Company

Scott Flynn Partner KPMG

Jorge Garcia

Senior Vice President & Corporate Comptroller Popular Inc.

Randy Harvey

Vice President, Tax ConAgra Foods

Nicole Thorne Jenkins

Associate Professor University of Kentucky

Steve Klyn

Vice President and CFO International Equipment Solutions

Melissa Koeppel

Partner, National Leadership Team Grant Thornton LLP

Chad Kokenge

National Leader, Transaction Services— Capital Markets and Accounting Advisory Services PricewaterhouseCoopers LLC

Bob Nicolls

Owner Monarch Investment & Management Group

Mark Polking

Senior Vice President Transamerica

Wolfe Tone

National Tax Leader, Growth Enterprise Services Deloitte

Jeffrey Westhoff

Controller John Deere Power Products Tippie College of Business 11

Applying Accounting Alumni News

KPMG Names Newinski to Senior Leadership Team Laura Newinski, BBA87, was named KPMG’s vice chair of operations in July.

Bousselot Appointment Michael Bousselot, BBA05/M.Ac.06, a Davenport native, was appointed Chief of Staff to Gov. Terry Branstad and Lt. Gov. Kim Reynolds.

Bousselot served as the governor’s office legal counsel before stepping into the Chief of Staff position in August. During that time, crafted state policies like the Iowa Health and Wellness Plan, the largest tax cut in Iowa history, the Healthiest State Initiative and Medicaid modernization.

Bousselot has advised the governor on issues relating to revenue and health care, among others. He has served as policy advisor to the governor and lt. governor for the Iowa Department of Human Services, Iowa Department of Revenue, Iowa Department of Inspections and Appeals, Iowa Department of Public Health, Iowa Department on Aging and the Iowa Public Employee Retirement System.

Before joining Governor Branstad’s staff, Michael Bousselot, worked as an attorney in private practice. Prior to practicing law, he worked as a consultant for Deloitte in Chicago, Illinois. In 2009, he received his law degree from Drake University Law School.

He is a past member of the Tippie Young Alumni Board.

12 The Iowa Ledger

Her career advanced quickly since her 1988 start at KMPG. Newinski was named to KPMG’s partnership in 1997.

She previously held the position of national managing partner for tax practice.

Newinski was named Outstanding Accounting Alumnus in 2013

by Tippie’s Department of Accounting and she is a past president and member of the Professional Accounting Council.

Michael J. Anderson, BBA89, has been named special agent in charge of the FBI’s Chicago Division. He previously was the SAC of the New Orleans Division since 2012. Successful investigations included the Deepwater Horizon environmental disaster and the Harvey Hustlers, a notorious neighborhood-based violent gang.

Andrew Acito, PhD11, and wife Megan, are the proud parents of twins Caroline and Graham.

Andrew is an assistant professor at Michigan State University.

Daniel Brown, BBA13, is an assurance senior associate with McGladrey LLP in Cedar Rapids, Iowa.

He lives in North Liberty, Iowa.

Steve L. Christensen, BBA89, is finance manager at Inverness Properties, a real estate firm in Englewood, Colorado.

Tiffani M. (Siders) Conrey, BBA98, is chief financial officer for Skogman Companies in Cedar Rapids, Iowa.

Kevin Den Adel, PhD99, was elected to the Iowa Society of CPAs board of directors.

Robert W. Dixon, BBA97, is an associate general counsel with Federal Home Loan Bank of Des Moines.

Brad Downes, BBA04, M.Ac.05, is the chief financial officer at Altitude Digital, a digital advertising technology company in Denver, Colorado.

Scott W. Friestad, BBA83/JD86, associate director of the enforcement division for the U.S. Securities and Exchange Commission in Washington, D.C., has been named one of the 100 Most Influential People in Business Ethics by Ethisphere magazine.

C. Gary Gately, BSC57/JD61, an attorney with the Whitfield & Eddy law firm in Des Moines, has been named to Best Lawyers in America 2015.

Alyssa S. Gonnerman, BBA11, is an attorney with the Husch Blackwell law firm in Kansas City, Missouri.

like We’d ar to he you! from Deborah N. Haas, BBA98/MBA06, is a tax manager with the American & Efird thread and yarn manufacturing company in Mount Holly, North Carolina.

Philip Hadley, BBA84, has stepped down after nearly 15 years as CEO of FactSet. He stayed on as chairman of the board.

Corissa A. Hoffman, M.Ac.10, is a certified public accountant for McGladrey in Sioux Falls, South Dakota.

Daniel Hoppestad, BBA10, is an auditor with PricewaterhouseCoopers in Charlotte, North Carolina.

Sheena R. (Simonson) Komenda, BBA00, is a tax planning manager with Rockwell Collins in Cedar Rapids, Iowa.

In Memorium

Kevin O’Malley

Benjamin Miller, BBA10/M.Ac.11, CPA, is now controller at Illini Precast LLC. Carly Mullinex, BBA07, is the controller with the Lincoln Park Zoo in Chicago.

S. Christian Nelson, BBA98, is an attorney on the management team with the Belin McCormick law firm in Des Moines.

Ryan Rivera, BBA01, authored a children’s book, I is for Iowa, which introduces young readers to the UI campus and other Iowa City spots. He is a partner with Hartman Simons & Wood LLP. He lives in Smyrna, Georgia.

Sarah (Schulte) Urion, BBA09 finance, and William Urion, BBA10, welcomed a son, Connor Justin, on September 12, 2014. They live in Clive, Iowa.

Chris Kaskie, BBA73, was inducted into the Iowa Rock ‘n’ Roll Music Association. He was a member of Inner Lite, a Marshalltown, Iowa, band that produced “Hold Onto Him” and “If I Only Knew,” which made it to No. 42 and No. 68, respectively.

Michelle (Schimek) Nessa, PhD14, welcomed a son, Lincoln. She is assistant professor at Michigan State University.

Tom Kloet, BBA80, received the University of Iowa Distinguished Alumni Award for Achievement. He was also inducted into the Futures Industry Hall of Fame in March 2015.

Visit tippie.uiowa. edu/alumni/update to share your personal or professional information and include a photo.

Thank you!

Mark M. Sloan, BBA85, an attorney with the Thompson & Knight law firm in Dallas, is featured in Texas Super Lawyers 2014, the 2014 Chambers USA “Leaders in Their Field” legal directory, Legalease’s 2014 The Legal 500 U.S. directory and in The Best Lawyers in America 2015.

September 4, 1990 — May 30, 2015 Tippie Accounting faculty and alumni were deeply saddened when they heard of the untimely death of recent graduate Kevin O’Malley, BBA12.

A native of Palos Park, Illinois, O’Malley was shot and killed in a robbery on Chicago’s north side.

During his time at the University of Iowa, Kevin majored in accounting, played club volleyball and was an avid Hawkeye fan.

After completing his BBA in 2012, Kevin earned his CPA and worked as an accountant for Ironform Corporation. We offer our heartfelt condolences to his family.

Glen E. Perkins III, BBA03, is vice president of Hawkeye Paving in Bettendorf, Iowa, and Rachel N. (Kuns) Perkins, BBA03, is a human resources project manager at John Deere in Moline, Illinois.

College of Business 13

Applying Accounting Outstanding Alumnus Award Honorees 1998 Michael F. Cooney III KPMG Peat Marwick

PwC Workshop Presenters Wei Chen University of Iowa Tippie College of Business, Accounting Mark Bradshaw Boston College Mei Feng University of Pittsburg Bradford Hepfer University of Iowa Tippie College of Business, Accounting Charles Lee Stanford Graduate School of Business

1999 David J. Kirkpatrick KPMG Peat Marwick 2000 Lloyd J. Palmer Nalco Chemical Company 2001 James G. Darby Deere & Company 2002 Anne L. Buettner Walt Disney Company 2003 Jonathan F. Eisele Deloitte & Touche 2004 Kay Hegarty RSM McGladrey 2005 David F. Licko Gannett Company

Lisa De Simone Stanford Graduate School of Business

2006 Terri Bobek PricewaterhouseCoopers

Christopher Small University of Iowa Tippie College of Business, Accounting

2007 Bill Travis Bailiwick Data Systems

Anand Vijh University of Iowa Tippie College of Business, Finance Michael Williamson University of Illinois Suning Zhang University of Iowa Tippie College of Business, Accounting

2008 Dale Baker Baker Healthcare Consulting 2009 Greg Ellison Banks, Finley, White & Co. 2010 Ann Madden Rice University of California-Davis Medical Center 2011 Robert Arzbaecher Actuant Corporation 2012 Tom Veale TRISTAR Insurance 2013 Laura Newinski KPMG 2014 Tom Kloet TMX Group

14 The Iowa Ledger

IOWA TIMES Chris Hoffman Named Outstanding Accounting Alumnus

Each year an accounting alumnus is recognized for his or her engagement and support of the Department of Accounting.

Some truly inspiring people have been selected in the past, and this year is no exception.

Chris Hoffman, BBA85, is a senior partner with PricewaterhouseCoopers in Chicago serving as lead audit partner on key clients in the private company practice as well as health care and higher education sectors.

Chris joined PwC in Kansas City in 1990 after a few years with regional and smaller national firms. He was admitted to the partnership in 2000 and has worked in PwC offices in Kansas City, Dallas, St. Louis and Chicago.

Chris and his teams at PwC have delivered a very high level of client service across several industry groups, including

private companies in international food production and distribution and medical supply and device industries. He also serves as the Greater Chicago Market leader of PwC’s higher education practice. In this role, he serves as the lead audit partner on some of the firm’s key Midwest universities, such as the University of Michigan, Notre Dame and Northwestern University.

The outstanding accounting alumnus is recognized each year at Beta Alpha Psi’s Spring Banquet. Chris and his wife, Elaine, traveled to Iowa City to attend this event in April.

When Chris arrived for a pre-banquet photo shoot, he was surprised to be greeted by a few dozen PwC colleagues—many alumni of Iowa’s accounting program—who traveled from across the country to gather to support and celebrate Chris’s accomplishments.

At the banquet, Chris delivered

an engaging speech to a room of students, faculty and alumni. He reflected on his time as a student at the University of Iowa and his nearly 30-year career in public accounting.

His message also centered around a collection of four-letter words, including, luck, fear, time and Iowa.

“I’ve been inspired as I’ve reconnected with the University of Iowa,” explains Chris.

“Being a member of the Professional Accounting Council (PAC) and recruiting on this campus has helped me develop synergies with students and faculty. These connections have allowed me to witness the continued quality of the accounting program.”

He says the quality of the Tippie accounting program is also evident every day in the hallways of PwC where he says the Hawkeyes continue to perform well on the job.

Chris served on the PAC from 2005 to 2013. During his tenure, he was a

leader in raising awareness and collaborating with faculty on important subjects like student ethics training and developing diversity in student recruitment.

In 2013, Chris received an invitation from Tippie Dean Sarah Fisher Gardial to join the college’s Tippie Advisory Board.

“I was honored to be asked to be a part of this board, but when I initially reviewed the list of members, I realized there is no one like me—an accountant—on this board. That’s when I realized it’s exactly where I should be.”

He is also currently active on the Board of Trustees of One Hope United and serves as audit committee chair.

Chris has continually supported child welfare and educational organizations throughout his career. His commitment and service to Iowa’s accounting students make him deserving of this recognition.

Chris and Elaine Hoffman surrounded by PwC colleagues who gathered to celebrate Chris’s honor of Outstanding Accounting Alumnus of the Year.

Tippie College of Business 15

Investing in Communication Clarity

Developing a writing program and a competitive advantage

16 The Iowa Ledger

FOR DECADES, THE ACADEMIC QUALITY of the accounting program at the University of Iowa has remained solid. Peer institutions and alumni consistently rank it high; published research flows from well-respected faculty, and firms court and offer accounting graduates attractive career opportunities.

It would have been easy for members of the Department of Accounting to get comfortable with this level of success. But they didn’t.

The department pushed to be better by asking hiring firms what more could the department do to prepare accounting students for success in the workforce.

“The feedback we received from recruiters indicated that students needed better written and oral communication skills,” explains Dan Collins, professor and department executive officer. “So in the mid-1990s when the department was approached by Lola Lopes, dean of the Undergraduate Business Program, about piloting a writing project staffed by graduate students from the Iowa Writers’ Workshop, we signed on.”

In 1998 a writing assessment was created to help undergraduate juniors develop an awareness of individual weaknesses. A website was also created to be used as a tool for students to self-correct weaknesses, but the site was underutilized.

The program expanded in earnest in 2000 when Pam Bourjaily joined the writing program as a writing consultant. The program began to offer one-on-one consultation and focused on “macro” writing goals like organization and thesis statement development.

Instructional writing support became a critical element of the program.

“Being able to ask questions and receive targeted instruction tailored to the specific assignment motivates students to pay attention to the quality of their writing while building confidence in their ability to improve their writing skills,” Bourjaily says.

The accounting writing curriculum expanded to include seniors in 2001. The program was soon recognized as a best practice in the Association to Advance Collegiate Schools of Business (AACSB) accreditation review in 2002.

“Under Pam’s leadership, the writing program has evolved into a model program that consistently is singled out by AACSB accreditation review teams as a program to be emulated by other accounting departments around the country,” says Collins.

In its most recent report, the AACSB review team noted: “the writing program in the

accounting department has created a significant advantage for graduates of the University of Iowa’s accounting program.”

The key to improving any skill is continued practice, and writing is no different.

“Incorporating writing assignments throughout both years of the undergraduate program helped students to develop their writing skills and become more proficient over time,” says Bourjaily. “It enabled us to build in more critical-thinking skill components and gave us the opportunity to showcase student improvement with the data provided by the additional writing assessment at the end of the senior year.”

Woven into the fibers of the coursework are writing assignments where students demonstrate their technical knowledge while articulating their thoughts in a clear and concise The feedback indicated manner. One to three that students needed writing assignments better written and oral are compulsory for all communication skills. required courses within the major. The assignments are graded for content by the accounting faculty and for expository expertise by Carl Follmer, accounting program assistant director, and a staff of writing consultants.

The writing program is Cristi Gleason, associa significant advantage ate professor and Henry for graduates of the UI B. Tippie Research accounting program.

Fellow, appreciates collaborating with Follmer when preparing writing assignments.

“In my class, students learn to develop thesis statements and structure written arguments,” explains Gleason. She notes it is hard for anyone to write about something he or she doesn’t understand, but she worked with Follmer to create an assignment that allowed students to write about accounting at their level.

“Students are able to develop their writing skills regardless of their technical understanding, but they are able to really wow us with their ideas and understanding, which they wouldn’t have had the opportunity to do in a more narrowly structured assignment,” she says.

The writing program expanded in 2006 to include the Master of Accountancy program Tippie College of Business 17

with four classes per year featuring a writing component.

Tom Carroll, M.Ac. Program director, was a member of the department long before the writing program began, and he’s seen the quality of student writing improve over time.

“I have worked with Pam, her predecessors and now Carl to develop assignments that serve both the pedagogical objectives of the course and the specific objectives of the writing program,” he says. “By assessing the results, and with a bit of trial and error, I think we have reached the point where we are accomplishing both sets of objectives.”

Dillon Schlee, BBA15, of Postville, Iowa, is a student in the M.Ac. Program. Throughout his undergraduate experience at Tippie, he understood the importance of the accounting writing curriculum.

“I think I learned something from every writing assignment Employers have told us I’ve had,” he says. He they have noticed that UI recalls that a writing graduates demonstrate a assignment in the clear advantage.

Income Measurement and Asset Valuation (Intermediate Accounting I) course presented the biggest challenge.

“For this particular assignment, the proYou can’t rise above a fessor ‘threw us in the ocean’ and forced us to mid-level manager unless research a topic that you can communicate we had not covered. He effectively both verbally wanted us to get used and in written form. to researching a topic that we were not familiar with and be able to come up with a solution.”

The writing assignment involved a real-world case that required students to perform a recoverability test to determine whether or not an impairment loss should be recorded as an asset.

“Additionally, we needed to format the assignment as a memo to the company’s CFO. Looking back, I think this assignment is the type of scenario that could easily happen while working in public accounting,” says Schlee.

In 2011, a writing assessment was introduced as a screening method to ensure new undergraduate students were meeting a minimum writing requirement before starting the account18 The Iowa Ledger

ing major. Establishing the minimum writing competency requirement for admission helped to ensure all accounting majors would meet the expectations of future employers.

“As the writing program has developed, employers have told us they have noticed that University of Iowa graduates demonstrate a clear advantage relative to peers from other schools in their written communication skills,” says Collins. “This sets Iowa students apart and puts them on the fast track for promotion.”

Providing for the Future Alumnus Bob Nicolls, BBA80, and his wife Kathy, value the Department of Accounting and the important role the Accounting Writing Program plays in developing well-rounded accounting professionals. Bob and Kathy recently pledged $1 million to support the program’s operations.

“You can be a great technician, but in my mind, you can’t rise above a mid-level manager unless you can communicate effectively both verbally and in written form,” explains Bob, who is owner of Monarch Investment and Management Group, Franktown, Colorado. Monarch specializes in the acquisition and management of investmentgrade income-producing properties, primarily multi-family apartment communities. Monarch currently manages large-scale apartment units in addition to a nationally franchised hotel and a ski and snowboard area.

As a professional, Bob says he routinely deals with a variety of communication vehicles, from daily email to structured quarterly reports sent to investors, and everything in between.

“You can quickly identify those who are skilled at written communication and those who are not,” he says. “You have to be ready to communicate no matter what your technical knowledge.”

Bob and Kathy Nicolls are ensuring that tomorrow’s accounting graduates have the skills to excel in the workplace.

Bob and Kathy Nicolls

Meet Carl Follmer

Assistant Director, Accounting Writing Program The growth of the Accounting Writing Program brought the need for a new staff member dedicated to managing the operations of the program.

Carl Follmer joined the staff in July after working two years as a graduate writing tutor in the Judith R. Frank Business Communication Center at the Tippie College of Business. Carl is assisted by three writing consultants to provide writing help to accounting students and grade written assignments and tests.

Hometown:

Washington, D.C.

Undergraduate degree:

B.A. in 2008 in American History at the University of Iowa

Graduate study:

Carl completed an M.A. in German literature in 2011. He will complete a Ph.D. in comparative literature (Spanish and German) in 2016.

Common grammar pet peeve:

Use of the impersonal 2nd person, as in “You just can’t do that!”

Favorite social media platform:

Professionally: Twitter. Personally: Facebook. “Either way, I would much rather speak with someone face-to-face and make a connection.”

Married to:

Robin Follmer for 12 years, and has 3 boys.

Peyton is 11, Michael is 8, William is 5. Carl and Robin are expecting baby #4 in March.

The unexpected:

Carl finds cross-stitching relaxing. He is currently crafting Van Gogh’s “The Starry Night” to display in his home.

Our thanks to Pam Bourjaily for 15 years of leading the Accounting Writing Program and crafting it into the highquality program it is today.

Although Pam transitioned to a full-time position at the Judith R. Frank Business Communication Center at the Tippie College of Business, she continued to support the Accounting Writing Program for years. We wish her much success in her role as director of the Frank Center.

Tippie College of Business 19

Exploring New Ideas Faculty Highlights 1 AMY AN Lecturer

Expertise: Tax research and compliance issues of business entities and individual taxpayers.

Amy travels at least 80,000 miles and stays in 75 hotel nights per year. Conrad hotels are her favorite and she travels around the world just to collect the Conrad stuffed animals. Amy’s favorite music group is The McGarrigle Sisters, Canadian folk singers.

2 JARON WILDE Assistant Professor

Expertise: Taxation and financial reporting, with emphasis on how monitors and uncertainty influence firms’ business decisions and reporting behaviors.

Jaron has lived in Brazil and speaks fluent Portuguese. The Wilde family’s favorite Iowa location is Wilson’s Orchard just outside Iowa City where they enjoy tractor rides and apple cider donuts.

3 CRISTI GLEASON

Associate Professor Henry B. Tippie Research Fellow

Expertise: Financial accounting and reporting, financial reporting of income tax.

A little-known fact about Cristi is she served as a judge in the university’s traffic court when she was an undergraduate at Brigham Young University. Her favorite place in Iowa is Des Moines because of the wonderful performances at the Performing Arts Center, the high school basketball tournaments at the Wells Fargo Arena and great restaurants and shopping.

4 SCOTT ASAY Assistant Professor

Expertise: Judgment and decision making in accounting settings.

Scott’s preferred music group is The Who and his favorite tune is “Won’t Get Fooled Again.” His favorite location in Iowa is Lake Macbride because his family loves to play on the beach, swim and kayak.

5 PAUL HRIBAR

Leonard A Hadley Research Professor of Accounting Director, Ph.D. Program in Accounting

Expertise: Empirical/archival research in financial accounting, specialties including measurement of earnings management using empirical models; accounting-based anomalies; predicting stock returns using accounting data.

Paul is one of three Canadians in the accounting faculty. (Kevin Markle

20 The Iowa Ledger

and Amy An are also from Canada.)

Paul is proud to be a big fan of the Toronto Blue Jays.

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6 KEVIN MARKLE Assistant Professor

Expertise: International tax.

As an undergrad at the University of North Carolina, Kevin was the manager of the women’s soccer team. Several of the players on those teams (Mia Hamm, Kristine Lilly, Carla Overbeck) went on to win World Cups and Olympic gold medals.

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7 KEVIN DEN ADEL

Lecturer and Director, Accounting Undergraduate Program

Expertise: Auditing, financial reporting.

Kevin takes at least one long road trip each summer to explore national parks and historical locations in the U.S. Summer 2015 trips included the Blue Ridge Parkway, Yellowstone and Grand Teton National Park.

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8 LISA DUTCHIK Lecturer

Expertise: Management accounting.

Lisa’s passion is college basketball.

March Madness is one of her favorite times of the year. Lisa’s favorite place in Iowa is Hickory Hill Park in Iowa City. Lisa and her husband enjoy walking their dog there, no matter what the season.

9 RICK MERGENTHALER Associate Professor Henry B. Tippie Research Fellow

Expertise: Financial archival research with a focus on standard setting.

Rick and his wife Bonni welcomed their seventh child, Gavin William, into their family in August. Rick loves Christmas music and listens to it all year. He also appreciates instrumental piano music; The Piano Guys are his favorite.

10 JOYCE BERG

Sidney G. Winter Professor of Accounting Director, Iowa Electronic Markets

Expertise: Design of incentive systems, experimental markets, Internet markets, and market design, Iowa Electronic Markets, management accounting, prediction markets.

Many people don’t know that Joyce once fed a giant tortoise during a visit to the Galapagos Islands. Her two favorite things in Iowa include the Hamburg Inn in Iowa City, to enjoy a delicious raspberry pie shake, and attending a Cedar Rapids Kernels baseball game.

11 SAM MELESSA Assistant Professor

Expertise: Empirical/archival research in financial accounting.

Sam spends much of his spare time working out (basketball) with his two boys and coaching their AAU basketball teams. He enjoys listening to music from his all-time favorite band, U2, especially The Joshua Tree and Achtung Baby albums.

12 DOUGLAS DEJONG

Lloyd J. and Thelma W. Palmer Professor of Accounting Expertise: Corporate governance (U.S. and international),

International Financial Reporting Standards (IFRS), experimental economics; strategic games, markets, and econometrics.

Doug’s favorite place in Iowa is the Flying Weenie in Cedar Rapids because he claims it has the best Chicago dog in Iowa. His preferred music act is Stevie Nicks and Fleetwood Mac. He loved the entire Rumours album.

13 RAMJI BALAKRISHNAN Carlson-KPMG Research Professor of Accounting Director, RSM McGladrey Institute of Accounting Education and Research Ramji and his wife, Usha, love

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to take walks in Kent State Park in Johnson County. He is fond of carnatic music, a genre little known outside of Southern India, and he considers M. Santhanam one of the all-time greats.

14 MARY MURPHY Adjunct Lecturer

One of Mary’s favorite places is the Iowa City Parkview Terrace Neighborhood, which sits along the Iowa River and has ample green space, wildlife and birds.

She says it’s a terrific place to raise children, especially since it is within walking and biking distance of City Park and downtown.

15 MARK PENNO

Professor Ray William Shearman Research Fellow Expertise: Accounting theory.

A little known fact about Mark is his undergraduate focus was pre-seminary study. He is fond of Cat Stevens’ “Moonshadow,” and he enjoys the Snake Alley area in Burlington, Iowa.

16 DAN COLLINS

Professor and Department Executive Officer Henry B. Tippie Research Chair in Accounting

Expertise: Empirical assessments of earnings management

and earnings quality, tests of conditional conservative reporting and timely loss recognition, role of earnings and other accounting numbers in struggles for corporate control.

Dan grew up on an Iowa farm raising hogs for his 4-H project. He still looks forward to going to the Iowa State Fair to watch the youth hog show.

17 BOB HARTMAN Lecturer

Expertise: Financial accounting and reporting, government and not-for-profit accounting, internal auditing, management accounting.

Bob is fond of the Mississippi River Valley north of Bellevue, Iowa. He appreciates the Wright prairie-style architecture of park pavilions and buildings in Eagle Point Park near Dubuque and the view overlooking Lock and Dam No.11.

18 TOM CARROLL

Lecturer and Director, M.Ac. Program

Expertise: Financial reporting.

Tom has run in seven marathons, including two Bostons and one New York. His favorite music act is The Big Phat Band and he most enjoys the group’s live version of “Play that Funky Music White Boy.”

Tippie College of Business 21

Exploring New Ideas

New to Business. New to College.

Tippie opens its doors to future students As hard as we try, nobody can predict the future. But 25 high school students had a glimpse of what the future could bring them, if they choose to study at the Tippie College of Business.

Last June, the first ever Tippie Gateway Program was offered—a week-long campus experience for high school juniors from diverse backgrounds who are interested in business careers. The program targets qualified applicants from populations underrepresented in business including underrepresented minorities, low-income, and/or firstgeneration college students. The experience is of no cost to the student through scholarships provided by the Tippie College of Business.

Students experienced college life through campus activities, presentations by alumni, access to faculty, case studies, and company visits. Students even discovered what life in a residence hall is like by staying at nearby Burge Hall.

Stephen Belyn, BBA91, managing director, FTI Consulting, Chicago, took part in a panel to share his insight on 22 The Iowa Ledger

the accounting major and profession with the high school students.

“I had been seeking out a soupto-nuts approach that could attract high school students to business, and especially accounting. When I learned of the Gateway Program and its mission, I thought it offers a win-winwin situation for the students, Tippie and employers,” says Stephen.

“I appreciate the program’s initial focus on high school students in Iowa, but I believe there are also qualified students in the Chicago area, too. I am interested in reaching those students who haven’t considered attending college, let alone the University of Iowa. We are excited to tell them about the career opportunities that are possible with a Tippie business education,” he says.

Stephen has worked with an all-boy high school in the Chicago area, in an attempt to garner student interest in business at the Tippie College.

“We are trying to break down the stereotypes about Iowa. It’s early in the process, but we are off to a good start,” says Stephen’s wife Pamela Belyn, a partner at the law firm of Boodell &

Domanskis, LLC. “We both believe in education,” she says. “And we recognize employers seek well-educated, qualified talent from diverse backgrounds. The high school level is an excellent place to begin to engage that applicant pool,” says Pamela.

The Belyns have worked with the University of Iowa Foundation to create a fund to ensure the Gateway Program and its efforts will reach qualified high school students in the Chicago area. They also hosted a fall gathering of friends and colleagues from their personal network, coinciding with the Hawkeye vs. Northwestern football game, as a fundraising event to support the Gateway Program.

In the future, they hope to host a larger event to generate even more interest in the Tippie Gateway Program.

The husband and wife duo have declared a friendly competition in their household to see who can attract more qualified high school students to the University of Iowa. Pamela says its time she steps up her game.

We wish them both the best of luck!

New Faculty Member LISA DUTCHIK, M.AC.00

Stephen Belyn, BBA91, returned to campus to meet with high school juniors to share his perspective on college life and the accounting profession.

Stephen and Pamela Belyn are interested in guiding Chicago area students to the University of Iowa to study business.

Organizers plan to grow and enhance future offerings for the Gateway Program.

Mark Archibald, assistant director, first-year experience, says, “We plan to increase capacity next year to 50 students, and we want to incorporate more technology in the business case study component.”

He says students will meet remotely using Skype to communicate with industry professionals and alumni to ask questions and get feedback on the progress of student case studies.

To learn more about the Tippie Gateway Program and how you can support it, please visit tippie.uiowa.edu/ gateway.

Suning Zhang The Department of Accounting welcomes visiting assistant professor Suning Zhang to the Tippie College of Business. She received her doctoral degree in accounting at the University of Minnesota and an MBA degree in accounting and finance at Ohio State University.

A graduate of Iowa’s Master of Accountancy program, Lisa Dutchik returned to the Tippie College of Business as a lecturer in the Department of Accounting and faculty advisor of the Accounting Club. She’s not only back at her alma mater, she’s working alongside some very familiar faces.

“When I was a graduate student here, I had Tom Carroll, Doug DeJong and Joyce Berg as professors. I worked as a teaching assistant for Dan Collins and I worked with Bob Hartman, too.”

“They are great people with high standards who are passionate about their work,” she says.

Dutchik says she finds it both humbling and exciting to be part of the well-respected accounting program at Iowa.

After completing the M.Ac. program, Dutchik worked as an adjunct lecturer and eventually associate professor at Kirkwood Community College.

“Kirkwood is where I really developed as a teacher. I learned what it meant to be student centered and move my focus to student learning rather than the act of teaching,” she says.

In 2012, Dutchik moved into the position of dean of business and Information technology at Kirkwood. She gained an appreciation for the amount of work happening in an institution outside of what goes on in the classroom.

Dutchik clearly recalls that no two days were alike while she was dean.

“One minute I might be talking with local employers about jobs and the skills needed in those jobs,” she says.

“The next I’d be working with faculty to reexamine curriculum to meet those employers’ needs, and the next working with our IT Department to make sure we had all the computer equipment we needed.”

This fall, Dutchik has transitioned back into the classroom teaching Managerial Accounting and the FirstYear Accounting Seminar course. She has professional experience in audit, tax and consulting, but spent most of her career in management accounting.

Tippie College of Business 23

income-shifting activities of multinationals THE POLICYMAKERS TAKE NOTICE 24 The Iowa Ledger

At the junction of accounting, law and economics— that’s where Assistant Professor of Accounting Kevin Markle stands with his research on income shifting by multinational corporations.

“Each discipline has a voice at the table. To me, this makes it pretty exciting, because the research matters,” Markle says.

But he never said it would be easy.

“We look at how multinational companies strategically report their income in certain jurisdictions to help lower their overall tax bills. It’s very complicated, but I find it fascinating. There will be questions to be answered forever. We find those and answer them.”

Markle explains that companies are not always forthcoming about how they shift income to avoid paying taxes. He compares it to asking individuals about their donation habits or personal tax behavior. Not everyone wants to share his or her habits and strategies.

“There are some things multinational companies don’t want us to know, such as competitive data. Even if nothing illegal is going on, there is a real hesitation to talk about it and provide the data necessary that shows what’s going on.”

Because of this hesitation, research in this arena relies on archival data from annual reports. Markle and his co-authors purchase databases from companies that gather corporate data. An overwhelming amount of data is available about companies worldwide.

In addition, he seeks out people who worked for the companies he studies and interviews them about what the research might find.

“We talk to them, then look for it empirically. We take a big pile of data and put it into statistical analysis. It’s a hatchet approach rather than a scalpel, but that’s what we are able to do.”

Findings Markle’s high-level findings show that multinational firms are able to use differences in tax rules and tax laws in different countries to lower their overall tax bills. In addition to studying how countries treat foreign income, he also examines the characteristics of firms that are very successful at avoiding taxes, such as GE. “There are very clear hoops that can be jumped through to avoid taxes. As soon as you have that, you have very excited economists who see that there are choices to be made that affect what ends up in your pocket,” says Markle. “We try to look at it from the country’s point of view of what they choose to try to limit, what’s effective and what’s not.”

Notable Outside Academe Markle is Canadian, so he views the work as academic and realizes he can help inform U.S. and international policymakers as they confront tax reform.

“We should make policy based on data, and we have access to that data.”

One entity that has taken note is the Organization for Economic Cooperation and Development (OECD), which worked directly with Markle and co-author Leslie Robinson from Dartmouth College to summarize international tax research data. Their familiarity with the database enabled them to produce tables representing the percentage of firms that have full ownership structures, research and development expenses and other key financial statement variables. The OECD also cited their work several times in the Base Erosion and Profit Shifting initiative report, which was presented to G20 finance ministers in Peru on October 8.

On Capitol Hill, Markle presented his research to the Tax Foundation, and he has also presented to the International Tax Policy Forum, a group of Fortune 500 tax directors facilitated by PricewaterhouseCoopers. Law schools have also found his research intriguing, and he attended an economics conference in Ireland.

“The diversity of thought and approach to research is something I really enjoy about my area of research,” Markle says. “The OECD has been focusing on profit shifting. Cynics say it’s useless, but it’s being discussed. Whatever happens, there is a large need for outcomes to be studied, and I intend to be part of that.”

— By Ruth Paarmann

Kevin Markle

Tippie College of Business 25

Building a Better World

Student Awards & Scholarships 2014-2015 Awards Faculty Scholars Wan Qin Ang Jonathan De Jesus Macy Garwood Dylan Hochstetler Morgan Jacobsen Zhendong Jin Brian Kelley Christa Koch Jia Liu Kennedy Mars Scott Matthews Qimeng Wu Chenyang Zhang Iowa Society of CPAs Outstanding Senior Award Dylan Hochstetler Department of Accounting Outstanding Junior Award Yue Li Federation of Schools of Accountancy Award for Outstanding M.Ac. Student Steven Ventre Mary L. Collins Doctoral Fellowship in Accounting Award Bradford Hepfer Keith Lantz Colleague Improvement Award Ciao-Wei Chen

26 The Iowa Ledger

Byron R. Ross Award for Teaching Excellence Olivia Johnson Zhiyan (Jane) Song 2014-2015 Excellence in Writing Awards Junior Writing Award Melissa August Senior Writing Award Kennedy Mars M.Ac. Writing Award Katherine Farley Chenwei Yang

Scholarships 2014-15 Accounting Department FirstYear Scholarship Michelle Bahou Gina Cicero Thomas Duval Rylee Green Alec Harrold Jawan Jones Alexis Sachleben Wynn Tan Accounting Department SecondYear Scholarship Bailey Heaton Anna Marshall Alyssa Schinkel Accounting Undergraduate Scholarship Fund Jacob Barber Taylor Beguhn Yilun Cai

Chen Chen Bert Dannenfelser Andrew Davis Jonathan De Jesus Brett Dennis Matt Folgers Vance Glaser Ziying Guo Jana Hartmanova Dylan Hochstetler Adam Ishola Morgan Jacobsen Brian Kelley Christa Koch Michael Kolb Samuel Kushner Justin Lee Derek Leeney Yue Li Harvey Arvin Li Nicholas Logan Jacob Losch Matthew Maiers Zachary Mueller Allison Patnoe Jiayu Qian Sean Riordan Jordan Rozeboom Dillon Schlee Sagar Taurani Guanfang Wang Keegan Weber Katelyn Wheeldon Qimeng Wu Xing Xi AEGON Scholarship Sung Min Cho

Becker Award in Business Administration Yuxun Tan Bernard L. Swords Scholarship Sager Taurani C. Vance Shepherd Finance Scholarship Aaron Zaehringer Carl J. Stack Scholarship Jacob Losch Charles R. & Princess H. Jackson Scholarship Yilun Cai Michael Kolb Yuqi Sun Chester A. Phillips Scholarship Taylor Beguhn Brian Kelley Harvey Arvin Li Zachary Mueller Zhixiang Zhang Chuck and Mary Ann Peters Scholaship Brett Dennis Claudia Marban Scholarship Stephanie CuddalorePriya Colvin/Cox Scholarship Carolyn Beese Taylor Beguhn Matthew Curran

Thomas Curran Matt Folgers Vance Glaser Jessica Huber Derek Leeney Zachary Mueller Allison Patnoe Sean Riordan Grace Seidlin Jaclyn Steiff Cory Schuster Memorial Scholarship Nicole Ryan E. Lester and Frances M. Williams Scholarship Dylan Hochstetler Grace Seidlin Jaclyn Steiff Ernest Zuber Accounting Scholarship Surbhi Sachdev Eugene and Iva Kroeger Scholarship Baily Heaton Frank Warner Memorial Scholarship Faisal Alabsi Sung Min Cho Junyuan Zheng Frederick Everett Scholarship Dylan Hochstetler Qimeng Wu

Glenn Medhus Business Scholarship Yue Li Anna Marshall Jacob Schafer Goedkin/Clifton Gunderson & Co. Sean Riordan Growmark/Bill Davisson Scholarship Jessica Huber Henry B. Tippie Accounting Scholarship Vance Glaser Dylan Hochstetler Jacob Losch Dillon Schlee Hermina G. Brandt Scholarship Katelyn Wheeldon Ira White Accounting Scholarship Andrew Davis Brian Kelley Irma Seddig Heck Scholarship Yue Li Allison Patnoe Qimeng Wu Jack A. and Marilyn L. MacAllister Scholarship Stephanie CuddalorePriya Ziying Guo

James B. Gibbs Memorial Scholarship Adam Ishola James and Zella Cleveland Scholarship Lu Feng Jana Hartmanova Zhendong Jin Jordan Rozeboom

Sean Riordan Dillon Schlee Sagar Taurani Qimeng Wu Xing Xi Keith and Janet Benson Scholarship Katherine Farley

R. Bendigeri Memorial Scholarship Le Xiao Raymond & Mae Lewis Birkholtz Scholarship Shachi Vyas Reva Kusher Memorial Scholarship Aaron Zaehringer

Jo & Bill Barnes Freshman Accounting Scholarship Jacob Schafer

Keith Cook and Sharon Kress Business Scholarship Faisal Alabsi Jonathan De Jesus Dylan Hochstetler

John C. Clendenin Scholarship Shachi Vyas

Leo W. and Beverly J. Ladehoff Morgan Jacobsen

Robert & Eleanor Williams Scholarship Michael Streit James Yochum

John F. Murray Scholarship Nicholas Hestbech Carl Kwak Nan Li Jiayu Qian

Lowell F. and Dorothea T. Christy Business Scholarship Allison Patnoe Xing Xi

Robert A. Young Sr. Memorial Scholarship Adam Ishola

John W. & Mabel G. Schoen Business Scholarship Vance Glaser Ziying Guo Michael Kolb Samuel Kushner Yue Li Jordan Rozeboom Judy Walke Scholarship Jessica Huber Christa Koch Dillon Schlee Kalid Igram Accounting Scholarship Alexis Sachleben Alyssa Schinkel Keith & Helen Dunn Scholarship Taylor Beguhn Yilun Cai Chen Chen Jonathan De Jesus Vance Glaser Dylan Hochstetler Brian Kelley Michael Kolb Samuel Kushner Derek Leeney Yue Li Harvey Arvin Li Jacob Losch Zachary Mueller Allison Patnoe Jiayu Qian

Margaret A. Shriner Scholarship Andrew Davis Margaret Phelps Layton Business Scholarship Christa Koch Anna Marshall Jordan Rozebom Marion A. Youngers Accounting Scholarship Nicholas Hestbech

Rhoda Cummings Scholarship Jessica Huber

Robert Rienow & Sidney Winter Scholarship Jonathan De Jesus Robert S. and Dorothy J. Lee College of Business Administration Scholarship Joseph Henderson Robert S. and Dorothy J. Lee Scholarship Zachary Digmann Rosemary VitoshGrant Wood ABWA Scholarship Allison Patnoe

Sue Cannon Scholarship Jacob Barber Alexander Delong Jacob Kruse Carl Kwak Thomas Luther Scholarship in Business Jingyi Ma Tim Emmett Steel Business Scholarship Sagar Taurani

Timothy J. McCormally Tax Executives Inst.

Scholarship Fund Jaclyn Steiff Tippie College of Business Scholarship for Women Hannah Credille Tippie College of Business Undergraduate Scholarship Melissa August Rachel Fuller Keegan Weber

Robert G. Barker Business Scholarship Brian Kelley Sean Riordan

First-Year Scholarship Recipients

Robert Holmes Business Scholarship Emily Bong Samuel Kushner

This is the 18th year the Department of Accounting has sponsored scholarships for deserving first-year students who plan to major in accounting. We thank our alumni and friends for their generosity in supporting these students.

Robert L. Bankson Accounting Scholarship Alexander DeLong Madison Nevenhoven Ajibola Olayemi

Back left: Karley Finkel, Alec Bouchard, Andrew Paull, Jeremy Jestel, Alberto Roldan, Michael Chizek, Erin Crabtree, Mariah Walsh. Front: Kayleigh Dowd, Amanda Schloemer, Alex Luchowski, Guinevere Ann Nueva Espana and Kylie Beneke.

Mark Smith Business Scholarship Chen Chen Martin Rouse Accounting Award Sean Riordan Mitnick Memorial Accounting Scholarship Shawn Monahan Nancy Hauserman Global Experience Fund Jessica Huber Alejandro Murguia-Ortiz Nicole Ryan Katelyn Wheeldon Professional Accounting Council Scholarship Aly McDermott

Tippie College of Business 27

Building a Better World

$1,500,000 in refunds recorded

VITA STATS 75 student volunteers

1,156 returns prepared

38 VITA tax prep clinics

3,049 volunteer hours

5 locations VITA volunteers at work preparing tax forms for Johnson County clients.

Meet the Firms Night 2015 Meet the Firms, the annual job fair for accounting majors hosted by Beta Alpha Psi, was a smashing success. A total of 39 firms and companies met accounting students at the Press Box in Kinnick Stadium to recruit students for internships and full-time positions.

Meet the Firms was held on September 23, the day before the campuswide job fair, so recruiters had an early look at potential talent.

Bundling these events allows recruiting companies to spend a few days on campus to meet a large number of students.

Prior to Meet the Firms, Beta Alpha Psi members held resume workshops and networking sessions to prepare its members for successful outcomes with recruiters.

A Cambus shuttle was dedicated to transporting students to the off-campus event.

Tax Preparation Sensation The Volunteer Income Tax Assistance program provides a valuable service to the Johnson County community while providing learning opportunities for students.

New this year, students participating in VITA receive academic credit for training and the volunteer service they provide during tax season. The fall term focuses heavily on training students to process complex tax returns, while the spring semester entails working with the community and preparing returns.

Traditionally, VITA participants have been accounting and law majors, but all University of Iowa students are invited to take part.

28 The Iowa Ledger

Participating Firms We thank these firms for supporting our students and our accounting program. They are truly our partners in success.

Meet the Firms is an annual job fair organized by students of Beta Alpha Psi. Accounting majors are invited to meet nearly 40 firms and businesses who travel to campus to recruit for internships and full-time positions. Many students take advantage of this opportunity to make a polished first impression with potential employers.

Athene Becker Professional Education BerganKDV BKD LLP CliftonLarsonAllen LLP CNA Insurance Community CPA & Associates. Inc. ConAgra Foods Inc. Deloitte EKS&H LLP Enterprise Rent a Car Ernst & Young LLP Federal Bureau of Investigation FTI Consulting GROWMARK Inc. HNI Corporation John Deere Kiesling Associates Kohler Co LattaHarris LLP LWBJ McGladrey Monarch Investment & Management Group Mueller & Co. LLP Northern Trust Northwestern Mutual PepsiCo PwC Renewable Energy Group Rockwell Collins Roth & Company P.C. TaxACT TD&T CPAs and Advisors PC Terex USA LLC Terry Lockridge & Dunn The Principal Financial Group Transamerica Union Pacific Workiva Tippie College of Business 29

Dave Kirkpatrick BBA62, and Lavon Kirkpatrick. Dave, a CPA, retired from KPMG as managing partner after 30 years of service. He is a past member of the Tippie Board of Visitors (now the Tippie Advisory Board).

Howard Toole, PhD76, emeritus professor of accountancy at San Diego State University, appears with doctoral students Bradford Hepfer and CiaoWei (Theo) Chen. He and his wife, Leslie, enjoy the warm climate of southern California.

Terry D. Warfield, PhD98, is the PwC professor in accounting and chair of the Department of Accounting and Information Systems at the Wisconsin School of Business.

He and Mary live in Madison, Wisconsin.

Dale, BBA68 and Linda Baker. He is president of Baker Healthcare Consulting Inc. and a member of the Board of Directors of the University of Iowa Foundation.

32 The Iowa Ledger

Reaching goal will provide outstanding education The University of Iowa’s For Iowa. Forever More. campaign has grown to 91% of its $1.7 billion goal. We are making great strides to achieve this significant goal, but we simply aren’t there yet. With 15 months remaining, there’s still time to contribute.

As a part of the university’s larger comprehensive fund-raising campaign, the Tippie College of Business is working toward a $125 million goal. These resources are critical for the college as we strive to provide Iowa business students with an outstanding business education.

To achieve our goal, we need the entire Tippie community to participate.

This year, the Department of Accounting received funding support for supplemental fellowships for accounting doctoral students from several alumni and firms. Dave, BBA62, and Lavon Kirkpatrick; Terry, PhD98, and Mary Warfield; and Howard, PhD76, and Leslie Toole contributed significant five-year pledges in support of the doctoral program. We are also grateful to PwC for providing fellowship support of our doctoral students.

Dale, BBA68, and Linda Baker provided a $2 million gift for unrestricted use in the college. Funds from this gift will be used to support summer research for faculty in accounting as well as other departments in the college. Thank you to alumni at PwC and Ernst & Young for providing summer research fellowships for two of our faculty.

For Iowa. Forever More. The Campaign for the University of Iowa seeks to raise $1.7 billion in private support by December 31, 2016.

Through the achievement of three broad strategies: educating our students; ensuring a healthier and more sustainable world; and enriching commerce, culture, and communities, the campaign will secure for future generations the University of Iowa’s status as a world-class institution.

The campaign is the most ambitious fundraising effort in the state’s history and one of the most ambitious nationally for a public school of similar size.

The Tippie College has set a $125 million goal.

Programs, Centers, and Institutes: $40.1 million Faculty Support: $41 million Scholarship Support: $19.5 million Tippie Excellence Fund: $7 million MBA Programs: $9.5 million Graduate Fellowship Support: $2.4 million Facilities Enhancements: $5.5 million Total goal: $125 million See tippie.uiowa.edu/campaign for details.

NON-PROFIT US POSTAGE PAID

The University of Iowa

UNIVERSITY OF IOWA

Tippie College of Business Department of Accounting 108 John Pappajohn Business Bldg.

Iowa City, Iowa 52242-1994

The Press Box at Kinnick Stadium buzzes with activity each fall when accounting students network with firms and industry recruiters at Meet the Firms. The annual event is sponsored by Beta Alpha Psi and is open to all accounting majors. This career fair is oftentimes an accounting student’s first step toward securing a full-time career.