March 28, 2014 , Volume 6, Issue No. 3

From the Editor

This web-based newsletter serves as notice of our quarterly board meetings and communicates news of Council activities to our board and chapters. News items are shown with headlines and a short intro, linked to the full article on our Michigan Council web pages. News occurring between quarterly newsletter issues will be posted on our Council website, so please check there regularly, too.

Our newsletter mailing list includes all the current council board, active past council presidents, chapter delegates, chapter presidents. and others who would like to receive this communication. We encourage you to let us know what you think. Please contact webmaster@imamichigan.org .

Joe Nycum

Michigan Council News

Please follow the links below to read each article in full.

President's Message:  John Engel, Council President 2013-2014

Hopefully all of you have survived this hard winter, I know for myself that I will be glad to see the warm weather return.  Since our last newsletter, the Council has accomplished a number of things. We submitted revised By-Laws to IMA Global, and although the Council has not yet officially approved them, they were vetted by many board members and approved on merit.  Final approval will likely come when the Board votes at the March 13th meeting.  Our Global Directors attended a recent Board meeting and will report the latest news to the Council as soon as it is available.  As president of the Michigan Council, I gave a presentation during the March Chapter and Council Leaders Webinar.  The Michigan Council continues to be a strong and vibrant entity and has been invited to assist the IMA with questions regarding Council Operations and Membership Development on at least four occasions.  I have worked hard to fill some very big shoes and to insure that our history of earning the Council Award of Excellence continues.  I hope that I have done a good job of keeping that tradition going. 

Read more of the current and past president messages

John Engel

President of the IMA Michigan Council

2013 - 2014



The 12th Annual IMA Michigan Council's Fall Conference has Concluded

The Annual Fall Conference was held at the Kellogg Center on the Campus of Michigan State University on Monday, October 28, 2013. More than 200 Accounting & Finance Professionals, Educators, and College Students attended the conference. Program Moderator, Doug Hicks, CPA introduced a great slate of speakers including IMA Global Chair-Elect Joseph A. Vincent. Topics included an Economic Update, Ethics and the Foreign Corrupt Practices Act, 401-K and Retirement Planning, Preparing for the CFO Role, a Tax Update, and Benchmarking to Identify Gaps to World-class Finance. Visit Conference Page View Conference Photos

Michigan Council Wins 16th Council of Excellence Award

May 17, 2013 —16 Straight!

On May 17, 2013 Jenna Uszenski, Community Engagement Leader, IMA Global sent a note to congratulate the Michigan Council on winning the " Award of Excellence" in the 2012-2013 competition.  Our Council has won this award 16 consecutive years and 17 times out of the past 20 years. Only six of the twenty-four regional councils in the United States are selected each fiscal year for their extraordinary performance.  [Read the entire article]

Register for Upcoming CMA Review Courses

Take the next step toward becoming a Certified Management Accountant (CMA). Cleary University offers both classroom and on-line review courses.  Cleary University is the only institution in Michigan to offer the Certified Management Accountant Learning System, developed by the Institute of Management Accountants.

Check the Cleary University website for more information on registering for CMA Review Courses. [READ MORE AT http://www.cleary.edu/cma]


Chapter News

Please follow the links below to read each article in full.

Ann Arbor Chapter News

The Ann Arbor Chapter was awarded a banner for the 5th consecutive year. In June, the Chapter received the 11th place award at the IMA's Conference & Exposition in New Orleans, LA. The Chapter's next meeting is scheduled for Thursday, April 17th and will feature two guest speakers: Eric Conforti of Plante Moran, topic TBD and John Missad, LPL Financial "Best Practices for Buying & Evaluating Retirement Plans".

Check the Chapter's website for current news, events, and upcoming meeting dates.

Visit the Ann Arbor Chapter site at http://www.imamichigan.org/annarbor .

Detroit Chapter News

Congratulations to the Detroit Chapter for winning the 8th Place Award in the Stevenson Division! The Chapter's 8th Annual Spring Management Accounting Conference held on Thursday, March 20, 2014 has concluded.

The Chapter's next meeting is scheduled for Tuesday, April 22, 2014 and will be an evening focused on technology. The May meeting will be a joint meeting with IIA enjoying a Riverboat Cruise. Watch the Chapter's events page for further details on the May meeting. Also check the Chapter's website for current news, events and other upcoming meetings.

Visit the Detroit Chapter site at http://www.imamichigan.org/detroit

Michiana Chapter News

Congratulations to the Michiana Chapter for winning the 13th Place Award in the Warner Division! The Chapter's just concluded it 3rd Annual Student Conference that was held on Friday, March 20th. It was another successful conference.

The Chapter's next meeting is scheduled for Tuesday, April 10th and guest speaker Carrie Jenkins of Creative Financial Staffing will present an "Employment Outlook". Visit the Michiana Chapter Site at http://www.imamichigan.org/michiana

Grand Rapids Chapter News

The Grand Rapids Chapter's next meeting is scheduled for Tuesday, April 15th and will focus on "Unpacking the story of Kids' Food Basket". Join volunteers from the Grand Rapids Chapter on Tuesday, February 20th to help pack lunches for kids.

Check the Chapter's website for current news, events and upcoming meetings.

Visit the Grand Rapids Chapter Site at http://www.imamichigan.org/grandrapids

Kalamazoo Chapter News

The Kalamazoo Chapter's next meeting is scheduled for Tuesday, April 22nd. Guest speaker

Norman W. Hawker, J.D., B.B.A., Professor of Finance and Commercial Law at Western Michigan University will present on "Ethics".

Check the Chapter's website for current news, events and upcoming meeting dates. 

Visit the Kalamazoo Chapter Site at http://www.imamichigan.org/kalamazoo

Saginaw Valley Chapter News

The Saginaw Valley Chapter's next meeting is scheduled for Wednesday, April 14th. Guest speaker Julie A. Golman, MBA, CMA Adjunct Faculty at Delta College will present an "Ethics Case Study". The meeting will also include awards presentations.

Check the Chapter's website for current news, events and upcoming meeting dates. 

Visit the Saginaw Valley Chapter site at http://www.imamichigan.org/saginawvalley


Featured Articles and Webinars

Please follow the links below to read each article in full.

A Year of Growth in Members, Influence, and Respect

By Jeffrey C. Thomson, CMA, CAE

"As we enter our 95th year as an association, we have much to celebrate as a community and more still to go to achieve our full potential in serving members, organizations, and the public interest." Read more on page 10 of the January 2014 issue of Strategic Finance magazine.

Students and Future Management Accountants

By William F. Knese, CMA, CFM, CPA

"It's a problem that isn't going away easily or quickly. The accounting profession faces a shortage of qualified professionals." Mr. Knese goes on to say: "The reinvented role of accounting and finance professionals - in business organizations, and governments - requires analytical thinking, problem solving, and communication skills. Alarmingly, experienced practitioners lack the expertise, and entry-level workers are even more ill equipped to bridge the finance function with business strategy." Read more on page 8 of the January 2014 issue of Strategic Finance magazine.

Managing The Strategic Finance GAP

By Benjamin Kang, CPA

"The world is always changing, and it impacts you in some way as a finance professional. On one level, you know that market forces will always react to changes in supply and demand and that regulatory bodies will continue to create and enforce new rules and amend existing ones. Change impacts businesses in obvious and subtle ways, but you don't always know how to anticipate or determine the entire impact. When significant events require a change in the way of doing things, you seldom have a blueprint to guide you." "Finance Professionals need to drive business results not just report financial results." Read more on page 43 of the February 2014 issue of Strategic Finance magazine.

The Habit of Being Proactive

By Daniel Epler, CMA, CFM, CPIM

The first of Stephen Covey's 7 Habit of Highly Effective People is being proactive. By following Covey's guiding principles, each of us can become more effective in our lives, understand how to be truly proactive, and take ownership of our decisions.

Read more on page 19 of the January 2014 issue of Strategic Finance magazine.

Creating a Valid and Reliable CMA Exam

By Samuel C. Weaver, CMA, CFM, Ph.D., and Dennis Whitney, CMA, CFM, CAE

Have you ever wondered how the CMA exam comes to life? It is a long, intricate process that emphasizes accuracy, completeness, and teamwork. This article focuses on three aspects of the process: (1) Creation of the CMA Exam Content Specification Outline (CSO), (2) The development of the exam questions, and (3) The procedure by which we set the passing standard.

Read more on page 19 of the March 2014 issue of Strategic Finance magazine.


Continuing Education Webinars

Take time to check the IMA Global website to see what webinar topics are scheduled each month.  There are two webinar series:  The Inside Talk webinar series explores relevant topics from your profession and delivers timely information to broaden your knowledge and improve your performance.  The Leadership Academy series focuses on building the future of the accounting and finance profession by empowering its members and creating the profession's future leaders.

The next IMA Inside Talk webinar "Top 7 Trends in Management Accounting" is scheduled for Thursday, April 3, 2014 at 1pm ET. The presenter Gary M. Cokins of Analytics-Based Performance Management, LLC will explain more about current methods and procedures being employed by accounting and finance professionals.  Read more and/or Register

The next IMA Leadership Academy webinar "Obtaining and Retaining Game Changing Talent" is schedule for Tuesday, April 22, 2014 1-2:30pm. Presenter Michael Lejeune, CERS, CPC, CTS and Moderator C.S. "Bud" Kulesza, CMA, CFM will explain how the "Success in today's economic climate calls for more than unique products and services. It rides on the talent we attract, retain, and more importantly, engage."

Read more and/or Register

Visit the IMA Career Center

This area of the IMA Global website helps connect members with new employment opportunities.  Job seekers can post resumes and set up email alerts.  Employers can post jobs and view IMA member resumes.

Read more and/or Create an Account



Copyright 2011 Michigan Regional Council of The Institute of Management Accountants (IMA)