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Akron Chapter IMA Newsletter |  |
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Dear Members:
Please join your fellow members or the first meeting
of the 2008/2009 season on September 17, 2008 for
bring a colleague or boss night at
Tangiers Restaurant Shirley Calvin
Fellow Members, I hope everyone had a great summer. It is amazing how fast the summer went. We are starting back up on the monthly meeting schedule this month. The first meeting will be September 17 at Tangier Restaurant. I look forward to seeing you at the meeting. A few board members will be attending the "Meet the Accountants Night" at the University of Akron and Kent State University September 16 and 18. The goal is to make students aware of IMA and the CMA certification. We get the students' contact information and invite them to a future meeting. Mark your calendars now for the annual Professional Development Seminar on December 10th. There is a great slate of speakers. More details elsewhere in the newsletter. See you on the 17th!
Becky Price
Tangier Restaurant PANEL DISCUSSION - TAMRA EMMETT (Executive Recruiter, CFS of Northeastern Ohio, Ltd.), JOHN HOOKER (Operations Controller, GOJO Industries), and BETH WOODS (Director, Human Resources, Paladin) Tamra Emmett has worked with Creative Financial Staffing (CFS) of Northeastern Ohio, Ltd., for nearly 12 years, placing accounting and finance talent throughout NE Ohio. She has worked with all types of industries, including manufacturing, retail, healthcare, public accounting, and not-for-profit, on various levels, from Financial Analyst to VP of Finance searches. She is a degreed CPA who spent 10 years working in the accounting field, which included being a hiring manager at a private manufacturer and at a large publicly held retailer. John Hooker joined GOJO in a newly created role within the last year, Operations Controller. His career has been heavily focused in manufacturing, working up the ranks from cost accountant to various controller roles. His work experience has included both privately held and large public manufacturers: Blackhawk Automotive Plastics, a spin-off from Worthington Industries, Little Tikes, and Newell Rubbermaid. John has served as a hiring manager for over 13 years. John received his BS in Accounting and MBA in Finance from the University of Akron. Beth Woods is the Director of Human Resources for Paladin Heavy Construction Group in Akron, OH. Before joining Paladin, she spent 21 years at OGS Industries in various capacities: MRP integration, training and development, accounting processes and budget development, ISO implementation, development of Human Resources for multi-site (union/non-union) environments, including Drug Free Workplace with Transitional Work Program. Starting in accounting, she holds a degree in Computer Science (math major/business major) from the University of Akron where she was a non-traditional student, completing her degree at night while working full time.
Tangier Restaurant Doug MacKay is Founder and President of Broadleaf Partners, LLC, a registered investment advisor serving high net worth individuals, foundations and institutions. He has been Chief Investment Officer of the firm's Growth Equity Portfolio since its inception in August 2005 and is responsible for setting the overall investment strategy of the firm. Prior to starting Broadleaf Partners, Doug spent over fifteen years with one of Ohio's largest, independently owned investment advisory firms, and was instrumental in the firm's growth, helping attract more than $30 billion in assets through direct marketing efforts to individuals and institutions around the country. He personally launched a family of no-load mutual funds, which contributed over $200 million in fees to the firm. He was directly responsible for managing investment portfolios and funds valued at more than $2.5 billion over a seven year period. He also built and managed a research department consisting of six equity analysts and four portfolio managers. Doug is a regular guest on CNBC and is quoted in numerous financial publications, including The Wall Street Journal, Barron's, Smart Money, and Institutional Investor. Doug graduated from Miami University and holds an MBA from Case Western University. He is a member of Hudson Community Chapel, where he is a Sunday School teacher. He is President of the Greater East Ohio Alzheimer's Association. Doug is an avid runner, cyclist and skier, and enjoys reading and writing. Doug and his wife Lisa have three children and live in the Hudson School district.
All Regular Monthly meetings for the
2008/2009 year
will be held at Tangiers Restaurant on the
following
dates: Dinner cost is $25 (or $23 using the Pay Pal option) and $10 per Pre-Tech Session (or $50 prepayment for the entire pre-tech series)".
There are still several board positions that need to be filled -- (Director - Librarian, Director - Member Relations, Co-director - Advertising, and Assistant Treasurer). If you are interested in any of these board positions, contact any current board member for information.
For a complete record of CPE earned at Akron chapter pre-tech, tech and PD Seminar meetings (from September 2000 through May 2008), go to the chapter website, www.akron.imanet.org, click in "Events", and then click on "CPE History" (bottom of page). The link shows date of meeting, name of speaker, title of presentation, CPE categorization, and number of hours of CPE credit earned.
Annual Program Books for the 2008-09 IMA year will
be distributed to those chapter members who make a
reservation and attend the September 17 tech
session meeting at Tangier Restaurant. Other
chapter members will receive their books via bulk mail
later in September.
IMA Akron Chapter The CMA Review class for Part 1 "Business Analysis" scheduled to begin Saturday September 6, 2008 at the University of Akron College of Business Administration has been cancelled. The IMA Akron Chapter, through the University of Akron Workforce Development & Continuing Education division will be offering the CMA Review class for Part 3 "Strategic Management" beginning Saturday November 1, 2008, and continuing for three consecutive Saturday's in November. This course uses the Institute of Management Accountant's (IMA) Certified Management Accountant (CMA) Learning System to prepare the student to sit for and pass Part 3 of the CMA exam. Topics covered include: strategic planning, strategic marketing, corporate finance, decision analysis, and investment decisions. Materials are included. The Tuition is $650 and the deadline for registration is October 24, 2008. To register by phone please call (330) 972-7577. To register online please visit the University Continuing Education website at www.uak ron.edu/ce/register.php. For additional information please contact Steve Law, IMA Akron Chapter Director of CMA Education at (330) 666-8395 or stevelawnj@h otmail.com
Please contact Roy Howarter if you have a job available or are looking for an employment opportunity. Roy Howarter - Akron IMA Employment Director, 1- 800-321-5583
Please welcome new member Nagesh Desaraju who joined the Akron Chapter on 7/18/08 and Kevin Jacobs of Erico International who rejoined the chapter on 8/14/08.
On August 18, six Akron chapter members (Ken Bechtol, Dean Hull, Nancy Layer, Becky Price, Diane Saulino, and Nick Sucic) attended the "Night at the Races" Professional Development seminar at Northfield Park, which was co-sponsored with Cleveland East IMA chapter. They even brought along six guests (Ken brought his wife Patrice, brother-in- law Pat Hanna, and 10-year old niece from New York Shannon Hanna; Dean brought his wife Pat; Nancy brought her husband Bob; and Nick brought his wife Judy). We received one hour CPE credit by listening to Northfield CFO Bob Burkhart and Controller Jim Scott, who spoke on the topic "Gaming in the State of Ohio and Accounting Issues". We learned that the track was constructed in 1934, then known as Sportsman Park (a greyhound track). From 1936-1956, the focus changed and the track converted to a midget car racing format. In 1957, the track changed again to its present harness racing format. Al Capone was reportedly an early investor who was pleased that the track straddled Summit and Cuyahoga counties so that he could always get his way by placing a well-placed bribe. In 1972, the racetrack was purchased in part by Cleveland real estate magnate Carl Milstein; Carl died in 1999 and operation of the track shifted to his son Brock. The track is a half-mile oval, so the horses do two laps for the one-mile course (if you cheer at the end of the first lap, they know you are a rookie to the park). The park has stalls for 600 horses, a water pond for horse rehabilitation, a manure shed (with cover), and living quarters where some of the groomers and other staff live year-round. The park has year-round racing (217 racing days and 364 simulcast days last year), is open about 4 days/week for racing, and open daily for pari-mutuel betting (using a satellite feed for action from other tracks around the world). In pari-mutuel wagering (from the French term meaning "amongst ourselves"), the public is betting against each other, not against the racetrack. In effect, the track has no interest in the results of a race. The track simply deducts a percentage from each dollar wagered for payment of purses, state taxes, and expenses. The remainder of the win pool (82% on win, place, and show bets) is returned proportionately to the winners. They pay taxes daily to the government. Northfield Park is the #2 harness racing track in the USA (behind only the Meadowlands). During a typical year, $30 million is wagered on action at Northfield and $70 million is wagered on simulcast action at other tracks. About $1.3 million/night is bet on Northfield races. Northfield employs 250 people and has a $5 million annual payroll. The Controller has three accounting systems to deal with, conducts frequent audits (it's a cash business), and explained how highly regulated the business is. Diane Saulino asked how recession-proof the business is and CFO Burkhart explained that the recent run-up in gas prices caused a hit to track revenues. We asked about paying out winning tickets, no matter how old they are. Controller Scott explained that after a year, he purges uncashed tickets out of the system but preserves the information in an "outbook" (archived on disk) in case someone with an old ticket presents it for payment. They took us on a great behind-the-scenes tour of the facility, including the TV room with split screens and a $350,000 board (Nick, Ken and Shannon got to stand in the announcer's booth while he called a race). Ken won $27 on a horse with a water theme (Marina Katrinka), but lost on others (Eva Shark, Standin on a Beach, and Seaworthy), while Shannon won $17 on Athlete in Action. The food was great and a good time was had by all (when Nick explained how the odds worked and how much a person could win on a race, Shannon exclaimed "where have you been all my life?" and then high-fived Nick).
Richard C. Clevenger died at age 92 on 8-20-08. He joined Akron chapter IMA on 12-1-80, graduated with honors from The Ohio State University, served as a major in the Army during World War II, and retired from Firestone Tire & Rubber Company as assistant comptroller after 40 years of service. Preceded in death by his first wife of 52 years, Ruth, in 1994, he is survived by wife of 12 years, Mary K., two daughters, three step-children, and ten grandchildren.
On Saturday, September 27th the UA Student Chapter of IMA will be holding a Fall Picnic to for its current and potential student members, IMA professional members, as well as UA faculty. The event will be held at the Hilltop Shelter at Cascade Valley Metro Park (Oxbrow) from 3pm-8:30pm. We expect the event to be very diverse, with a significant portion of the attendees coming from the UA international student community. We hope to see you at the event but we understand if you are unable to attend because of your busy schedule. Thank you for your continuous support for our Student Chapter and have a great afternoon. Sincerely, Jeff Nartker President, UA Student Chapter of IMA
Members of the so-called Generation Y, also known as Millennials, are the labor pool from which companies will draw most of their employees in the coming years. To gain insight into what matters most to these individuals when it comes to their jobs, Robert Half International and Yahoo! HotJobs recently commissioned a national survey of more than 1,000 workers, ranging in age from 21 to 28. Based on those findings, here are some tactics you can use to bolster your recruitment efforts among the Millennial generation: Show them the money. Asked to rank the importance of 11 factors relating to job opportunities, Gen Y survey respondents said salary is their most critical consideration. In response to another question, 33 percent cited financial security as their top career concern. To ensure that your accounting firm's starting salaries are above or at least on par with competitors in your region, consult resources such as the Department of Labor's Bureau of Labor Statistics, the annual Salary Guides from Robert Half International and trade publications. Offer attractive benefits. Gen Yers are drawn to employers who provide first-rate healthcare and retirement benefits. They are acutely aware that healthcare costs continue rising sharply and that the Social Security safety net may not be available to them later in life. Be proactive and promote your company's benefits programs during employment interviews and on your website. Act now. Accustomed to instant results, Millennials don't like to wait. Therefore, instead of offering delayed rewards (such as the possibility of a raise or bonus after six months on the job), it's better to make an offer they can't refuse upfront. Moreover, Gen Yers don't want to wait three months for healthcare coverage or a year to be vested in your 401 (k) plan. Try to enroll them on or shortly after their start date. Accountemps is the world's first and largest temporary staffing service specializing in the placement of accounting, finance and bookkeeping professionals. The company has more than 360 offices worldwide, and offers online job search services at www.accountemps.com.
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email:
floyd@sssnet.com
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