November 27, 2011 , Volume 4, 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.

A Message from President, Dana Collins

We have just completed another successful Fall Conference that was hosted by the IMA Michigan Council and included more than 170 participants.  More details about the conference will follow elsewhere in this newsletter but the Council was pleased to provide 8 hours of CPE to those participants that look to the Council for educational opportunities to fulfill their annual CPE and Ethic requirements.  We thank the participants who attended our conference this year and look forward to providing another outstanding conference next year.

The Michigan Council continues to provide support to the chapters in Michigan and Northern Indiana through leadership training, educational speakers and topics, along with financial support for their local events. The goal of the Council is to assist the local chapters in providing benefits to its members and responding to requests for assistance with speakers, topics and other activities and resources as appropriate.

[READ MORE AT http://www.imamichigan.org/message]

10th Annual Fall Conference Concluded

Our planning committee, led by Fall Conference Chair, Chuck Phillips, CMA, organized another great Fall Conference program . More than 170 people attended the event.  Members from each of the eight IMA Michigan Council Chapters joined professionals from Ohio, Illinois and Michigan along with faculty and students from area colleges including St. Clair College in Windsor Ontario, Canada. 

[READ MORE AT http://imamichigan.org/conference2011.html]

IMA's 12th Annual Student Leadership Conference

The IMA's 12th Annual Student Leadership Conference was held November 10-12, 2011 at the Hilton Cincinnati Netherland Plaza - Cincinnati, Ohio.  Three Eastern Michigan University students attended the conference and reported on their experience.  Lynn Yinxing Lin said that "It was an unforgettable experience to attend the IMA's 12th Annual Leadership Conference.  The workshops offered topics such as basic business etiquette, interview skills, the importance of having a mentor and more." Wonseok Lee said "The conference gave him a chance to reflect on himself.  He concluded that education is like a tangible asset that defines an accounting professional.  Other intangibles could include skills, personality and speech."  Xiaofang Zhang reported that the conference "Provided great opportunities in building leadership and networking." 

View Photos by Rebecca Zhu

Register Now for CMA Review Courses

If you're serious about becoming a Certified Management Accountant (CMA), Cleary University has the program for you.  Cleary University is the only institution in Michigan to offer the Certified Management Accountant Learning System, developed by the Institute of Management Accountants.

Winter classes covering Part 2:  Financial Decison Making begin on Saturday, February 18, 2012 and meet six times every other Saturday for 36 hours of classroom instruction. CMA exams are offered in Jan & Feb, May & Jun, and Sep & Oct.

[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 next Ann Arbor Chapter meeting is scheduled for Thursday, January 10, 2012, 2011.  The pre-dinner speaker will be Mary Kuderik, UAW who will present on the topic of "Health Care Costs".  The post-dinner speaker will be Jeannie McMillan, MicMillan Associates who will present on the topic of "Taxation".

See Ann Arbor's calendar of events at http://www.imamichigan.org/annarbor/events .

Detroit Chapter News

The Detroit Chapter won 8th place in the Stephenson Division of IMA and John Macaulay, CMA and Chair-Elect 2011-2012 presented the award to Tom Miele, Chapter President at the IMA Michigan Council's 10th Annual Fall Conference.

The Detroit Chapter's next meeting is a joint meeting with IIA and is scheduled for Tuesday, January 10, 2012.  Two guest speakers, Paul Troub, Detroit Office, Federal Reserve Board of Chicago and Andy Dillon, Treaurer, State of Michigan will present on the topic of "National and State Economic Outlook".

See Detroit's calendar of events at http://www.imamichigan.org/detroit/events

Michiana Chapter News

The Michiana Chapter's next meeting is Tuesday, December 13, 2011.  John Engel, Michiana Chapter President and Faculty Member of the IMA Leadership Academy will present on the topic of "Mentoring".  The chapter's Holiday Bash is planned for Saturday, December 17th and will be a night out at the South Bend Civic Theatre.

John also reported that plans are underway for the Student Regional Conference in March.

See Michiana's calendar of events at http://www.imamichigan.org/michiana/events

Grand Rapids Chapter News

The Grand Rapids Chapter's next meeting is a joint meeting with members of AIPCS of Grand Rapids on Wednesday, January 17, 2012.  The topic will be "Sustainability" presented by Kelly Losey. 

The following month's meeting will be on Tuesday, February 15, 2012 and Sandra Richtermeyer, Nathional IMA Chair will present "Developing your leadership potential early in your career".

See Grand Rapids calendar of events at http://www.imamichigan.org/grandrapids/events

Kalamazoo Chapter News

Chapter President, Mark Woodin reported that the Kalamazoo Chapter's tour of AM Todd was one of the highlights this program year.  AM Todd began business in the 1800's processing mint oil from Michigan farm fields. 

The chapter's next meeting is scheduled on Tuesday, January 17, 2012 and the guest speaker,

Cory Wietfeldt of Wells Fargo Advisors will present an "Economic Update".

See Kalamazoo's calendar of events at http://www.imamichigan.org/kalamazoo/events

Upper Peninsula Chapter News

Chapter President, Joel Thompson reported to Chapter members saying "We did not earn an IMA National Banner this year, but still a respectable finish for our small chapter.  We finished 29th place out of about 90 chapters.  It's remarkable what a handful of people can do!  Thanks to all who continue to support our chapter by taking the CMA and CFM exams, attending the IMA's Annual Conference, and participating in our technical meetings and on our board of directors!"

The chapter will host it's Annual Holiday Dinner on Friday, December 9, 2011.  The guest speaker will be Gwendolyn Thurston, Communities Coordinator, Kennecott Eagle Minerals.

See Upper Peninsula's calendar of events at http://www.imamichigan.org/upperpeninsula/events


IMA Global News

The following news items of interest come from the Global IMA site at http://www.imanet.org. Please visit that site for more news and information. To read the full articles below, just follow the "Read more" link after each article.

IMA Ready to Compete with AICPA for Management Accountants

Jeffrey Thomson, current President and CEO of the Institute of Management Accountants, recently sent a letter to Accounting Today outlining his concerns with the AICPA's plans to "grandfather" CPAs into a new Chartered Global Management Accountant credential for free and without any demonstration of real competency. 

Read more

News about IMA Global's Member Relations Committee

Chris Mishler, CMA, CIA and Regional Vice-President reported that the main task of the Member Relations Committee (MRC) is to address the diverse needs of an expanded definition of "communities" of members.  It is no secret that the majority of members in a geographical chapter do not participate in live face-to-face events, so we are considering how to better serve the needs of the "silent majority" with alternatives that take advantage of current technology and trends.

Likewise, the MRC is contemplating the membership types globally, to see if we are aligned properly with the IMA's strategic goals.  Part of the ongoing work of the MRC is to evaluate the "rewards and recognitions" programs of the organization, in order to determine what level they should exist and the form they should take.

The Member Relations Committee gets direct reports from the XBRL Advisory Group.  That advisory group is very active putting on webinars, publishing articles, and setting up sessions that were presented at the Annual Conference. Chris went on to say the "We are please to have enlarged the group with outside expert advisors and advocates in the legislative field in order to propose more internal  use of the XBRL specification in organizations, both public and private, and subsequently obtaining more of the benefits as opposed to just incurring the costs of implementing interactive data.

The Value of the CMA

Make one of your New Year's resolutions to earn the CMA designation.  The CMA (Certified Management Account) is the advanced professional certification specifically designed to measure the accounting and financial management skills that drive business performance.

Achieving the CMA credential demonstrates your mastery of financial planning, analysis, control, and decision support, as well as professional ethics.

Read more

Teaching How to Cheat

Concerns about cheating in school are nothing new, but they usually don't include teachers.  The widespread scandals of teachers cheating on standardized tests provide the wrong ethical guidance to those who will later staff and lead business organizations. See the article written by Curtis C. Verschoor, Emeritus Professor of DePaul University in the November 2011 issue of Strategic Finance.

Read more

Continuing Education Webinars

Do you realize that as a member of the IMA, you have access to continuing education webinars?

The next scheduled webinar is "Workplace Bias" on Thursday, December 8, 2011 at 1pm Eastern Standard Time.  Workplace bias has a significant impact on individuals, organizations and society by creating additional costs and lost opportunities.

Read more




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