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WE LISTENED
Our talented and caring students and alumni
told us they wanted more opportunities for
experiential learning beyond the co-ops, more
opportunities to interact with faculty and more
options for concentrations. We have responded
by appointing Professor Jennifer Wright as the
director of the MS in Accounting Program where
her dedicated focus will be to drive student
experience to include more concentrations from analytics to tax to corporate
finance to research. Professor Wright will also be focused on extending our
contacts to other areas schools, developing a co-op for the MS program as
well as promoting more experiential learning in the classroom. We have also
appointed Professor Stacy Kline as the Director of Student Engagement for
the Accounting Department. As the name implies, her focus will be to ensure
that undergraduate students have a dedicated champion. Professor Kline
will facilitate more interaction with faculty, alumni and employers along with
extending her proven track record for innovative, experiential learning based
methods. These appointments will also allow the new Chair of the Accounting
Department, Professor Barbara Grein to focus on attracting and retaining the
best faculty who provide excellence in teaching, research and service as well
as building relationships with our stakeholders to ensure we have the ongoing
resources to provide an outstanding student experience. This new department
organizational design was driven by your feedback we will continue to rely on
your valued support and engagement to reach our common goals of producing
outstanding graduates who excel in the profession and continue to remain part
of the LeBow family as active members.
Hubert Glover
Chair, Accounting Department
FALL 2016
DEPARTMENT OF ACCOUNTING
NEWSLETTER
ADVISORYCOUNCIL
Thomas M. Koncsics ’90 (Chair)
Partner, KPMG LLP
Michael P. Gremo, CPA ’93
Partner, Grant Thornton
Duane Amendola, CPA ’95
Vice President & Assistant Controller
Comcast Cable
Deanna M. Byrne ’92
Partner, Assurance Services
PriceWaterhouse Coopers, LLP
John R. Culbertson, CPA ’04
Manager, Bowman & Company LLP
Edward Furman, CPA ’76
Partner, Maillie, Falconiero & Company
Beth Hanssens ‘91
Senior Business Executive
Nancy L. Gunza, CPA ’85
Partner, CliftonLarsonAllen
Thomas A. Masci Jr., CPA ‘68
Co-Founder- served as
EVP and CFO, Retired
Health Advocate, Inc
Debra Martino 94’
AVP Corporate Tax
Lincoln Financial Group
Eric Page, CPA 98’
Director of Controls Compliance
Airgas
Michael Purcell ‘87
Partner, Deloitte LLP
Patricia Russo, CPA 95’
Assistant Vice President & Controller
Drexel University
William Stickney, CPA
Partner, Grant Thornton
Steve Swartz
Partner, Gold Gerstein Group LLC
John Cao ‘13
Cognitive Automation Value Architect
KPMG
Albert DeRitis ‘85
Value Stream Leader
Director - Neuroscience
Johnson & Johnson
Diana DiStefano ‘12/’13
Tax Associate, PwC
Arpita Patel ‘10
Supervisor- Anti-Money Laundering
Mercadien
Scott Ross ‘14/’15
Tax Associate, PwC
Jeff Shafer ‘12
Senior Assurance Associate, PwC
Schuyler Simms ‘06
Senior Technical Manager of
Professional Practice, IAASB
David Small
VP & Chief Audit Officer, CHOP
Chantee Steele ‘13
Advisory Senior Consultant
Deliotte
William Neil ‘10
Senior Audit Associate, BDO
Mark Stutman ‘72
Retired, Grant Thornton
Merhawny Worde ‘05
Audit Senior Manager, Deloitte
THANK YOU HUBERT
Dr. Hubert Glover joined the faculty in
2010 and has been the department head
for the last two years. His influence has
been much larger than that short time
period would suggest. For those of you
who have had a chance to interact with
him, you know he advocates the C’s –
Compassion, Competence, Collaboration,
Communication, and Critical Thinking. Hubert modeled each of them
in his leadership and dedication to the accounting profession. I could
give you many examples of each, but let me pick creativity. Hubert
always looked for a creative ways to make education rewarding. Not
just at the student level, but with our faculty, administrators and alumni.
He always tried to create new ways to include all stakeholders in the
education process and to have the experience be rewarding. From
all of us here at LeBow, we want to thank Hubert for inspiring us.
Looking ahead, my goal is to continue to build on the theme of collegiality
and collaboration. Collaboration among the faculty, students, alumni, and
friends of the department increases our research impact, learning in and
out of the classroom, and fosters a stronger overall profession. I look
forward to connecting and investigating opportunities to collaborate.
Barbara Grein
Chair, Accounting Department
FALL 2016DEPARTMENT OF ACCOUNTING NEWSLETTER
LEBOW.DREXEL.EDUDREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS DEPARTMENT OF ACCOUNTING 32
STUDENT NEWS
ACCOUNTING AND SPORT MANAGEMENT
GRAD HEADED TO HARVARD LAW
By Natalie Shaak | Jun.6,2016
To say John Quagliariello had a busy college experience would be
an understatement. Not only is he completing requirements for two
undergraduate degrees with three six-month co-ops in just five years, he did
so as a Division I student-athlete.
John received his bachelor of science degrees in sport management and
businessadministrationwithamajorinaccountingthisspring.Butcompleting
his degrees won’t give him much time to relax. His busy lifestyle will continue
as he heads to Harvard University Law School in the fall.
John grew up outside of Philadelphia in Springfield, PA, and came to Drexel
as a sport management major and member of the varsity swim team. His
father, also named John, graduated from Drexel’s engineering program in
1986, but John says his father didn’t push him to choose Drexel. It was joining
the Drexel swim team that made the decision for him.
Academics have always been a priority for John. It was in planning his
freshman year schedule that he noticed a number of classes required for
the sport management program were offered through LeBow. He thought it
would make sense to see if he could plan a schedule that would allow him
to get degrees in both business and sport management. He worked with
advisors from both programs to identify the classes that overlapped so he
could fit his coursework into just five years. Of course this meant taking 18 to
20 credits per term along with his practice and competition schedules.
Inthisplanning,hemadesurethathisco-opexperiencesreflectedthecross-
discipline nature of his academic coursework.
It was during his accounting co-op at Sunoco that he started to explore the
idea of pursuing his law degree.
“Iwasworkingintheaccountingfirmwithtaxattorneys,andIlikedwhatthey
were doing more than just what the general accountants were doing,” he
says.“Intalkingtothem,theystartedtonudgemeinthatdirection.Istartedto
do some self-reflection and studying for the LSATs, and here we are.”
His long-term goal is to work in collegiate athletics, ideally in an athletic
director role. He sees his combination of studies as ideal for this career path.
“I feel that having a business degree underneath me as well as sport
managementdegreeisreallygoingtohelpmeoutwithanychallengesImight
face,” John says.
Hehopesaddingalawdegreetohisbackgroundwillmakehimevenstronger
in pursuit of this goal.
LEBOW SENIOR NAMED DREXEL STUDENT
LEADER OF THE YEAR
By Natalie Shaak | May18,2016
Senior accounting and finance major Andres Vivas Lopez was presented
with the Student Leader of the Year Award on May 12 at the annual
awards banquet sponsored by Drexel Student Life and the Undergraduate
Student Government Association.
The award is presented to one undergraduate student each year who
“has shown outstanding leadership and vision and has exemplified a
dedicated involvement and commitment to making a difference in the lives
of Drexel students.”
Andres transferred to Drexel from the Community College of Philadelphia
after completing his associate’s degree in business administration in 2013
and immediately got involved on campus, joining the Accounting Society
and the Association of Latino Professionals for America (ALPFA). He
served as the president of both organizations over the past two years.
His nominator, Hubert Glover, PhD, head of the Accounting Department,
noted his compassion, sincerity, communication skills and leadership
ability as what sets him apart.
“He is remarkable in his unselfish focus on helping others reach common
goals,” says Glover. “He represents the best of the University where
our experiential learning advantage develops maturity, insight and
professional capability prior to graduation. His co-op employers have
been impressed by his leadership, communication and sincere interest in
connecting with people, which is the core of their business.”
As for his leadership philosophy, Andres repeats what he frequently
shares with his fellow students: “Work smart, not hard. There’s no need to
reinvent the wheel. Hard work is appreciated and admired, but not at the
expense of efficiency.”
Andres will be working for KPMG, his former co-op employer, following
graduation in June.
KPMG’S FUTURE DIVERSITY LEADERS
Drexel University students Sofia Bastida and KeShaun Hinmon were
selectedtoattendtheFutureDiversityLeadersConference(FDL),athree-day
leadership development program sponsored by KPMG LLP (KPMG).
The Future Diversity Leaders Conference took place in Hollywood, California,
on July 14–16, 2015. The exclusive program is facilitated by KPMG partners
and includes only 83 top students from across the United States. This highly
interactiveprogramisdesignedtoprovidestudentstheopportunitytonetwork
with peers and KPMG professionals, to learn about the public accounting
profession, and most importantly, to further develop their leadership skills
through a robust curriculum designed specifically for FDL.
Students selected for FDL were chosen because they exhibit KPMG’s core
values, demonstrate academic prowess, and are leaders on campus and in
their communities.
MIRACULOUS BIRDIE AT NEW JERSEY
SECTION EARNS CHRIS CRAWFORD,
ACCOUNTING MAJOR ‘16, A U.S. OPEN BERTH
By David Dusek | Jun.6,2016
SUMMIT, N.J. – The sun washed down on the North and South courses at
Canoe Brook Country Club on Monday. The fairways and greens were soft
from storms that brought rain to the area on Sunday evening as a record 98
golfers each tried to earn one of the six spots available here for the 2016 U.S.
Open at Oakmont.
Whenitwasover,JimHermanfromPalmCity,Fla.,thewinnerofthisseason’s
Shell Houston Open, shot a 67 on the North course in the morning and a 70
on the South for a 7-under 137. That score tied him for medalist honors with
fellow PGA Tour player Rob Oppenheim from Orlando, Fla.
The other golfers who qualified to play in next week’s U.S. Open were Andy
Pope (Orlando, Fla.), Michael Miller (Brewster, N.Y.), Justin Hicks (Wellington,
Fla.) and amateur Christopher Crawford from Bensalem, Penn. Each of the
four shot 6-under 138.
HONORS DAY- ACCOUNTING DEPARTMENTAL
AWARDS
Coopers & Lybrand Achievement Award: Andrew Figueroa
Ernst & Young Endowed Scholarship: Cindy Ly
Judith Fenoglio Daw Memorial Scholarship: Vishala Apoorva Addepalli
CD Clarkson Award:	 Sokcheng Chan
Dupont Minority Education Fund: Keshaun Hinmon
J & S Bornstein Endowed Scholarship Fund: Geoffrey Wittenberg
Weber Endowed Scholarship Fund: Nobel Heard
HUBERT D. GLOVER, STUDENT LEADERSHIP
AWARDS 2015
Hubert D. Glover, Student Leadership Awards 2015
A few words from Dr. Glover to the recipients:
“I have been blessed and fortunate to work with you since 2010 supporting
the Accounting Society, ALPFA, Ascend, Beta Alpha Psi and NABA. The
achievements of each of these organizations has been the result of
outstanding leadership as represented by each of you. I look forward to
seeing you and for your continued support to Drexel University and to our
great profession. “
Awardees each received a $150 gift card.
Organization or Purpose Award Winner
Accounting Society Scott Ross
ALPFA Francisco Michaud
Andres Viva Lopez
Ascend John Cao
Linh Duong
Beta Alpha Psi Marissa Neale
NABA Jeff Shafer
Student of the Year George Peart
KPMG Sofia Bastida
Keshaun Himmon
JOIN US!
Annual CPE Conference
October 14, 2016, 7:30am-4pm
Gerri C. LeBow Hall
LeBow College of Business
FALL 2016DEPARTMENT OF ACCOUNTING NEWSLETTER
LEBOW.DREXEL.EDUDREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS DEPARTMENT OF ACCOUNTING4
1ST PLACE
“Compliance Kings” Joseph Adie, Yufan Fei, Zhuo Wang, Seth Brandenburg.
Coached by Maureen Breen of Drexel University
2ND PLACE
“Debits and Credits” Henry Moldavskiy, Zhuoping Zhang, Joseph Campbell, Alissa Reichert.
Coached by Daniel Kline of Deliotte
3RD PLACE
“It’s Accrual World” Jian Huang, Qi Wang, Brian Melton, Sijie Fu
Coached by Arpita Patel of Mercadien
4TH PLACE
“Let’s Get Fiscal” Kyle Kallos, Xiaochen Guo, Linh Nguyen, Daniel Duffy
Coached by Larry D’Andrea of Drexel University
ANNUAL FRAUD AND INTERNAL CASE CONTROL COMPETITION
HELD ON FEBRUARY 12, 2016
TEAM PRIZES
1ST PLACE
$500 ($125 per each team member)
2ND PLACE
$300 ($75 per each team member)
3RD PLACE
$200 ($50 per each team member)
4TH PLACE
$100 ($25 per each team member)
HIGHLIGHTED EVENTS OF 2015/16
LAFSA – LEBOW ACCOUNTING
FACULTY, STUDENTS AND ALUMNI
The 2015 annual accounting award night, sponsored by
Global Tax Management, honored Joseph DiBianca as
the Beta Alpha Psi Outstanding Alumnus of the year. Mr.
DiBianca is the founder of Global Tax Management, Inc.
and now serves as Chairman and Strategic Advisor. He is
responsible for leading the company’s growth and strategic
planning initiatives, supporting client relations, and advising
the firm’s management team. A charter member of the Delta
Tau Chapter of Beta Alpha Psi at Drexel Univeristy, Joe is a
true supporter of the accounting students at LeBow College
of Business.
The department also presented Golden Calculator Awards
to the following Alum, faculty and friends of the department:
Frank Pina- Alumnus of the Year
Diana DiStefano- Young Alumnus of the Year
David Smalls- Friend of the Department
Stacy Kline- Professor of the Year
Jennifer Wright- Professor of the Year
Andres Vivas Lopez- Student of the Year
STUDENT ACTIVITIES
CPA TREK TO WASHINGTON, DC
Our accounting students took a trek to Washington DC to see the city, meet with various accounting organizations
and talk about life and business in the metro area. The morning started early as we loaded the bus at 8 am, with
coffee in hand, to arrive in DC. We were greeted by Sarah Turcotte and Lee Klumpp from BDO who lead off the
day with a discussion about the nonprofit industry and it is differentiated from working with for-profit companies.
It was an interesting discussion and students enjoyed the lively presentation. Thanks to BDO for providing lunch
and conversation.
The group then walked past the White House to the Center for Audit Quality (CAQ) on K street. The CAQ hosted
our students and discussed their organization’s history, current projects and their mission. Thank you to Catherine
Nance, CPA, Nicole Holden, CPA, and Margot Cella, Director of Research who provided insight to our students
about the accounting profession and the industry beyond the debits and credits of financial statements.
Our final presentation was back at the Washington, DC office of Drexel University from PWC. Stephanie Wolf,
Omar Toor and Darryle Jones provided a fun discussion on the unique projects that they experienced in their
years working for the firm in Washington DC. Our students also enjoyed hearing about the career paths of all
the professionals. Afterwards, all our presenters were invited to a networking event with alumni and friends.
Students were able to ask questions and continue the conversation about working and living in the DC area.
Thanks to all alum who joined us for food, drinks and mentoring.
STUDENT AWARDS/ACCOMPLISHMENTS
• PICPA Scholarships: Elena Smirnova, Andres
Vivas Lopez, Igor Gateniuk, Jody Lo
• Ilona Schaeffer, Tax Executives Institute Award
• Joseph Amato and Dylan McCauley Placed 3rd in Forensic
Accounting Competition in Atlanta at the CFE
• KPMG ALPFA Case Competition Participants selected as one of
24 schools nationwide (Daniela Munoz (Finance  Marketing),
Bernardo Veratti (Supply Chain Management), John Warkala
(Accounting  Finance), Andres Vivas Lopez (Accounting  Finance)
5
FALL 2016DEPARTMENT OF ACCOUNTING NEWSLETTER
LEBOW.DREXEL.EDUDREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS DEPARTMENT OF ACCOUNTING 76
STUDENT ACTIVITIES
AUDIT MARKET CONCENTRATION, AUDIT FEES
AND AUDIT QUALITY: EVIDENCE FROM CHINA
AUDITING: A JOURNAL OF PRACTICE  THEORY (MAY 2016)
This study investigates effects of audit market concentration on audit fees and audit quality in China.
Results suggest that concentration improves audit quality indirectly through increased audit fees and
offsetsthenegativedirecteffectofconcentrationonauditquality.Findingsinformregulatorsthatactions
taken to eliminate the indirect effect of concentration could produce unintended outcomes such as
decreased audit quality.
ERIC LOHWASSER
• His paper “U.S. Listed Chinese Reverse Mergers:
Fraud Indication for Auditors and Stakeholders
“coauthored with Khim Sim (Western Washington
University) and Anthony Curatola has been
accepted for presentation at a concurrent session
of the AAA annual meeting.
• He was a discussant for the paper “Common
Auditors and Private Lending By Banks” to be
presented at the AAA annual meeting.
YAOU ZHOU
• She was a discussant for a paper “corruption,
Independent Audit, and Equity Value” Presented at
the AAA annual meeting in NYC.
TAO SUN
• His paper “Black-Scholes vs. the IRS: Gains
and Losses from Revaluing Stock Options after
Spinoffs” coauthored with Mark Vargus, was
presented in a concurrent session at the 2016
Journal of Accounting, Auditing and Finance
Conference to be held at Lake Louise, Banff
National Park, Canada.
• Tao was a discussant for the paper “Audit Firm
Reaction to SEC Enforcement Proceedings Against
a Client: Evidence of City-Level Audit Office
Behavior” at the AAA annual meeting.
PHD NEWS
FACULTY NEWS
HSIHUI CHANG, PHD
ACCOUNTING
The 2016 Drexel LeBow Bridging Practice and Theory
Summit brought together regional academics and
a variety of business professionals to discuss topics
crucial to both communities. Keynote speakers
and discussion panelists discussed United Nations
sustainability goals, academia’s role in business
analytics and the role of experiential learning for
students and professionals.
Kyra Krysinski, a strategy and relationship executive
for the United Nations, Deloitte Services Limited,
deliveredamorningkeynoteentitled,“Organizational
Sustainability as a Global Trend and its Impact on
Business Leaders.” The presentation highlighted
the role of business and future leaders in the UN’s
15 Sustainability Goals. Attendees had vibrant
discussions on topics relating to sustainability such
as social equity, private sector roles, sustainability
in project management decisions and millennials’
desire to have an impact.
The second session highlighted business analytics
and the role of research in corporate strategy
decisions. Patricia “Trish” Oelrich, principal at
OelrichandAssociates,andMuruganAnandarajan,
professor of decision sciences and management
department head at Drexel LeBow answered
questions from attendees about relevant research
and the business applications. Participants
exchanged ideas in the area of leadership and
strategy, governance and policy and analytics and
performance in break-out sessions.
The final panel discussion highlighted the various
ways that experiential learning is used in the
college classroom and during in-house corporate
training. Rebekka Shepherd, assistant director of
Drexel LeBow’s Dornsife Office for Experiential
Learning moderated. Panelists were gathered
from varying fields, they included: Leslie Kendrick,
JohnsHopkinsUniversity,KimberlyKletcheckHart,
KPMG LLP, Chris Lindberg, Ennea International,
and Scarlett McCahill, Project HOME.
The summit provided a productive and fruitful
forum for regional professionals and business
faculty to network and collaborate. Attendees,
sponsorsandvolunteersallcontributedimmensely
to the success of the Summit.
BPTS- BRIDGING
PRACTICE AND THEORY
SUMMIT 2016
Our doctoral students continue to perform admirably. The latest accomplishments include:
FALL 2016DEPARTMENT OF ACCOUNTING NEWSLETTER
LEBOW.DREXEL.EDUDREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS DEPARTMENT OF ACCOUNTING 98
6
8
10
Professor Jennifer Wright and Professor Stacy
Kline received a grant from PWC to work on a
unique senior capstone project to be embedded in
to the third Financial Reporting course taken by all
accounting majors at LeBow College of Business.
The goal of the project is to help students culminate
their accounting experiences in the Financial
Reporting course sequence and demonstrate their
understanding of various concepts they learned
in all accounting classes. The uniqueness of this
project related to the cross-over of courses.
Students enrolled in Financial Reporting III complete
a multi-part senior capstone project. One part of this
project requires students to collaborate and consult
with students in another major accounting class link
the accounting experience across the curriculum.
• During winter term, students enrolled in the
FinancialReportingIIIclassconsultedtheBusiness
Tax class on the tax provision that was completed
for the financial statements. The students enrolled
in the Business tax course reviewed the provision
and suggested correcting adjustments or raised
issues relative to the tax provision.
• During spring term, students enrolled in the third
Financial Reporting class were asked to work
together with the Cost Accounting class on a lease
versus buy decision and determine the effects on
the financial statements.
Business decisions are increasingly complex and
interdisciplinary, calling on knowledge across many
business-related disciplines. The daily tasks and
responsibilities of newly licensed CPAs require
knowledgebeyondsimpletask-basedskillsbutneed
to have a higher level of professional skepticism and
an increased integration of accounting concepts.
The changes that will be made to the CPA exam
in coming years address these issues. The senior
capstone project was developed to help prepare
students for a career in accounting and successful
licensure, as well as to engage students in a
multi-course project that crosses the accounting
disciplines and promotes a deeper learning and
integration of business concepts.
In addition to reviewing technical competencies,
students learned the importance of teamwork,
communicating information and meeting deadlines.
Students had to make decisions as a team and
ensure clear communication of any adjustments
they felt were necessary to the projects. Students
had to provide reliable data in a timely fashion and
then make adjustments before the deadline. All of
us in the profession understand the difficulties this
can present in meeting client due dates.
The feedback from the students was generally
positive in the overall learning experience, but
all students wanted more time; don’t we all.
Professors Kline and Wright presented their project
and experiences at the American Accounting
Associations’ Annual Meeting during the Center for
TeachingandLearningSymposiuminAugustof2016.
PWC
END OF BUSY SEASON
This past Spring term a team of fourteen
undergraduate students applied their Drexel
classroom knowledge to assist a local not-for-
profit organization, Project HOME, with their system
of internal controls. The team divided their time
between the classroom and the location. In the
classroom they learned about designing, testing
and improving systems of internal controls. Though
some of the students had previous coursework
in the area, this unique opportunity made them
evaluate the applicability of their classroom learning
to a live accounting department.
Thentheytookthatknowledgetothenextlevelandwent
outtoProjectHOMEtodocumenttheexistingsystems.
They conducted interviews, collected documentation,
researched system improvements and designed tests
of the current system. They learned about the work
done by Project HOME and saw how they could apply
their business skills in civically engaged work. As the
term progressed the students developed a working
relationship with management and staff at Project
HOMEandmanagedtheirconsultingengagementwith
increasing independence.
The final exam was a presentation to the Finance
Committee of the Board of Directors, a challenging
test of their learning and their ability to apply that
learningatthetopleveloftheorganization.Everyone
aced the final!
PROJECT HOME
FALL 2016DEPARTMENT OF ACCOUNTING NEWSLETTER
LEBOW.DREXEL.EDUDREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS DEPARTMENT OF ACCOUNTING 1110
SPONSORSHIPS:
TITLE SPONSOR - $10,000 ($6,040 Tax Deductio
DINNER SPONSOR - $7,500 ($5,520 Tax Deducti
PRESENTING SPONSOR - $5,000 ($3,020 Tax D
GOLFER SHOE SPONSOR - $5,000 ($3,020 Tax D
LUNCHEON SPONSOR - $5,000 ($3,020 Tax Ded
REFRESHMENT SPONSOR - $5,000 ($3,020 Tax
FOURSOME - $3,000 ($1,020 Tax Deduction)
REGISTRATION SPONSOR
$2,500* - Special sponsor signage at registration
DRIVING RANGE SPONSOR
$1,000* - Special signage at driving range and bag
STRAIGHTEST DRIVE CONTEST SPONSOR
$1,000* - Special signage at Straightest Drive Con
LONGEST DRIVE CONTEST SPONSOR
$1,000* - Special signage at Longest Drive Contes
CLOSEST TO THE PIN CONTEST SPONSOR
$1,000* - Special signage at 2 Closest to the Pin C
HOLE SPONSOR
$500* - Company name on tee or green sign
RECEPTION AND DINNER ONLY
$150 or $250 per couple
*Denotes full tax deduction.
JOIN US ON MONDAY, SEPTEMBER
TO SUPPORT DREXEL UN
Your support helps fund scholarships and p
14th ANNUALDREXEL UNIVERSITY LEBOW COLLEGE OF BUSINESS
DEAN’S CUP
GOLF TOURNAMENT
Aronimink Golf Club | September 26, 2016
JOIN
US
DEDICATIONS
We are very fortunate to have the support of our alumni. This past year two exceptionally generous gifts were made to Gerri C. LeBow Hall. Pamela C.
and Bruce C. Loch named office 919 the Forensic Accounting Office. And Mr. Tom Masci, an advisory council member of the Department of Accounting,
Dedicated the Lobby to his family, his late wife Ellen and daughters Kimberly Masci Cartwright and Stefanie Masci Meno. It is now known as the Masci
Family Accounting Lobby. We are truly honored and humbled by your gifts.
TO REGISTER: Contact Cassandra Brown
clb87@drexel.edu | 215.895.6294
SCHEDULE: Registration/Lunch .....................11 a.m.
Start (Shotgun).......................12:30 p.m.
Cocktails .......................................5 p.m.
Dinner/Awards .............................6 p.m.
GOLF FORMAT: Scramble
FEES: $3,000 includes foursome, luncheon,
refreshments, cocktail reception, dinner, awards and all
fees. Individual rates and sponsorship opportunities are
available. Please call 215.895.6294
VENUE: ARONIMINK Golf Club
3600 St. Davids Road,
Newtown Square, PA 19073
610.356.8000
The course was designed by Donald Ross in 1928.
Ross’ original design was to incorporate a parkland
setting with more than 100 bunkers, slopes, valleys and
doglegs in an effort to require superior shot making.
Recently, Aronimink has undergone a restoration and
renovation project guided by architect Ron Prichard in
an effort to restore all bunkers to their original design,
add an additional five acres of fairways (up to 31 acres)
and restore the pond in front of the 10th green.
SPONSORSHIPS:
TITLE SPONSOR - $10,000 ($6,040 Tax Deduction)
DINNER SPONSOR - $7,500 ($5,520 Tax Deduction)
PRESENTING SPONSOR - $5,000 ($3,020 Tax Deduction)
GOLFER SHOE SPONSOR - $5,000 ($3,020 Tax Deduction)
LUNCHEON SPONSOR - $5,000 ($3,020 Tax Deduction)
REFRESHMENT SPONSOR - $5,000 ($3,020 Tax Deduction)
FOURSOME - $3,000 ($1,020 Tax Deduction)
REGISTRATION SPONSOR
$2,500* - Special sponsor signage at registration and bag drop-off
DRIVING RANGE SPONSOR
$1,000* - Special signage at driving range and bag drop-off
STRAIGHTEST DRIVE CONTEST SPONSOR
$1,000* - Special signage at Straightest Drive Contest Holes
LONGEST DRIVE CONTEST SPONSOR
$1,000* - Special signage at Longest Drive Contest Holes
CLOSEST TO THE PIN CONTEST SPONSOR
$1,000* - Special signage at 2 Closest to the Pin Contest Holes
HOLE SPONSOR
$500* - Company name on tee or green sign
RECEPTION AND DINNER ONLY
$150 or $250 per couple
*Denotes full tax deduction.
JOIN US ON MONDAY, SEPTEMBER 26, 2016 AT THE PRESTIGIOUS ARONIMINK GOLF CLUB
TO SUPPORT DREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS.
Your support helps fund scholarships and programs to attract the best students — a hole-in-one by any standard!
14th ANNUALDREXEL UNIVERSITY LEBOW COLLEGE OF BUSINESS
DEAN’S CUP
GOLF TOURNAMENT
Aronimink Golf Club | September 26, 2016
JOIN
US
TO
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add a
and r
SPONSORSHIPS:
TITLE SPONSOR - $10,000 ($6,040 Tax Deduction)
DINNER SPONSOR - $7,500 ($5,520 Tax Deduction)
PRESENTING SPONSOR - $5,000 ($3,020 Tax Deduction)
GOLFER SHOE SPONSOR - $5,000 ($3,020 Tax Deduction)
LUNCHEON SPONSOR - $5,000 ($3,020 Tax Deduction)
REFRESHMENT SPONSOR - $5,000 ($3,020 Tax Deduction)
FOURSOME - $3,000 ($1,020 Tax Deduction)
REGISTRATION SPONSOR
$2,500* - Special sponsor signage at registration and bag drop-off
DRIVING RANGE SPONSOR
$1,000* - Special signage at driving range and bag drop-off
STRAIGHTEST DRIVE CONTEST SPONSOR
$1,000* - Special signage at Straightest Drive Contest Holes
LONGEST DRIVE CONTEST SPONSOR
$1,000* - Special signage at Longest Drive Contest Holes
CLOSEST TO THE PIN CONTEST SPONSOR
$1,000* - Special signage at 2 Closest to the Pin Contest Holes
HOLE SPONSOR
$500* - Company name on tee or green sign
RECEPTION AND DINNER ONLY
$150 or $250 per couple
*Denotes full tax deduction.
JOIN US ON MONDAY, SEPTEMBER 26, 2016 AT THE PRES
TO SUPPORT DREXEL UNIVERSITY’S LEBOW C
Your support helps fund scholarships and programs to attract the best st
14th ANNUALDREXEL UNIVERSITY LEBOW COLLEGE OF BUSINESS
DEAN’S CUP
GOLF TOURNAMENT
Aronimink Golf Club | September 26, 2016
JOIN
US
TO REGISTER: Contact Cassandra Brown
clb87@drexel.edu | 215.895.6294
SCHEDULE: Registration/Lunch .....................11 a.m.
Start (Shotgun).......................12:30 p.m.
Cocktails .......................................5 p.m.
Dinner/Awards .............................6 p.m.
GOLF FORMAT: Scramble
FEES: $3,000 includes foursome, luncheon,
refreshments, cocktail reception, dinner, awards and all
fees. Individual rates and sponsorship opportunities are
available. Please call 215.895.6294
VENUE: ARONIMINK Golf Club
3600 St. Davids Road,
Newtown Square, PA 19073
610.356.8000
The course was designed by Donald Ross in 1928.
Ross’ original design was to incorporate a parkland
setting with more than 100 bunkers, slopes, valleys and
doglegs in an effort to require superior shot making.
Recently, Aronimink has undergone a restoration and
renovation project guided by architect Ron Prichard in
an effort to restore all bunkers to their original design,
add an additional five acres of fairways (up to 31 acres)
and restore the pond in front of the 10th green.
SPONSORSHIPS:
TITLE SPONSOR - $10,000 ($6,040 Tax Deduction)
DINNER SPONSOR - $7,500 ($5,520 Tax Deduction)
PRESENTING SPONSOR - $5,000 ($3,020 Tax Deduction)
GOLFER SHOE SPONSOR - $5,000 ($3,020 Tax Deduction)
LUNCHEON SPONSOR - $5,000 ($3,020 Tax Deduction)
REFRESHMENT SPONSOR - $5,000 ($3,020 Tax Deduction)
FOURSOME - $3,000 ($1,020 Tax Deduction)
REGISTRATION SPONSOR
$2,500* - Special sponsor signage at registration and bag drop-off
DRIVING RANGE SPONSOR
$1,000* - Special signage at driving range and bag drop-off
STRAIGHTEST DRIVE CONTEST SPONSOR
$1,000* - Special signage at Straightest Drive Contest Holes
LONGEST DRIVE CONTEST SPONSOR
$1,000* - Special signage at Longest Drive Contest Holes
CLOSEST TO THE PIN CONTEST SPONSOR
$1,000* - Special signage at 2 Closest to the Pin Contest Holes
HOLE SPONSOR
$500* - Company name on tee or green sign
RECEPTION AND DINNER ONLY
$150 or $250 per couple
*Denotes full tax deduction.
JOIN US ON MONDAY, SEPTEMBER 26, 2016 AT THE PRESTIGIOUS ARONIMINK GOLF CLUB
TO SUPPORT DREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS.
Your support helps fund scholarships and programs to attract the best students — a hole-in-one by any standard!
14th ANNUALDREXEL UNIVERSITY LEBOW COLLEGE OF BUSINESS
DEAN’S CUP
GOLF TOURNAMENT
Aronimink Golf Club | September 26, 2016
JOIN
US
AroniminkGolfClub
September26,2016
Dr. Glover and Professor Wright attended the NASBA regional
meetings in June and presented preliminary research findings
on “Best Practices for Preparing International Students for the
Uniform CPA Examination”. This research was funded with a
grant from NASBA. Dr. Alfonzo D. Alexander, Chief Relationship
Officer with NASBA, is pictured at the Denver, CO and Asheville,
NC regional meetings.
CONSIDER PURSUING YOUR
PHD OR EXECUTIVE DBA
by Professor Christopher Laincz, Director, LeBow PhD Program.
As the PhD Director, people often ask me for advice about PhD Programs. My
first response to their questions is more questions, “Why? What do you think you
will get in a PhD Program?” Then I tell them, “know what you are getting yourself
into first.” After, and only after, we have had that conversation do we begin to
discuss how to go about finding and getting into a PhD Program. To learn more,
we created a series of posts on LinkedIn meant to demystify PhD Programs,
handle the application process, and increase your chances of not just getting
into a program, but getting into one you’ll be happy with once you’ve made the
decision to apply. Please use this URL: http://tinyurl.com/h3gnvz7.
WHAT ABOUT A PHD IN ACCOUNTING?
Join bright motivated individuals looking to launch a successful career
in academia as a student in the LeBow PhD in Business program with a
specialization in accounting. As a LeBow Accounting PhD student you can
take advantage of a wide range of opportunities, enhancing your competence
in research and teaching at multiple levels throughout the program. Our faculty
take pride in working closely with our PhD students, developing and refining the
skills necessary for conducting and publishing academic research and achieving
strong placements in their field. See the LeBow information here www.lebow.
drexel.edu/academics/doctorate/accounting.
HOW CAN YOU SUPPORT THE DEVELOPMENT OF MORE ACCOUNTING PHDS?
Drexel LeBow fully funds PhD students, an important investment for the College
and University since it fulfills our mission to produce future thought leaders and
outstanding instructors. Every donation assists our students with opportunities
for success. Your assistance and support are needed so that we may continue
to provide stipends and tuition to attract and support top students. Make your
contribution here to support PhD students: http://tinyurl.com/j8gebgv.
NASBAPRESENTATION
Expand Your
Expertise.
Save
the
Dates!
Get CPA ready with a Master’s in Accounting from Drexel LeBow.
We offer a one-year option for students with a U.S.-based BS in accounting,
as well as a comprehensive two-year option.
DREXEL LEBOW
MS in Accounting
For More Info visit LeBow.Drexel.edu/MS
Meet the Accounting Students
A LeBow Recruiting Event
5-7pm Berhakis Grand Hall
September 29, 2016
End of Busy Season
Alumni Reception
GHall 220
April 27, 2017

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2016 Department of Accounting Newsletter

  • 1. WE LISTENED Our talented and caring students and alumni told us they wanted more opportunities for experiential learning beyond the co-ops, more opportunities to interact with faculty and more options for concentrations. We have responded by appointing Professor Jennifer Wright as the director of the MS in Accounting Program where her dedicated focus will be to drive student experience to include more concentrations from analytics to tax to corporate finance to research. Professor Wright will also be focused on extending our contacts to other areas schools, developing a co-op for the MS program as well as promoting more experiential learning in the classroom. We have also appointed Professor Stacy Kline as the Director of Student Engagement for the Accounting Department. As the name implies, her focus will be to ensure that undergraduate students have a dedicated champion. Professor Kline will facilitate more interaction with faculty, alumni and employers along with extending her proven track record for innovative, experiential learning based methods. These appointments will also allow the new Chair of the Accounting Department, Professor Barbara Grein to focus on attracting and retaining the best faculty who provide excellence in teaching, research and service as well as building relationships with our stakeholders to ensure we have the ongoing resources to provide an outstanding student experience. This new department organizational design was driven by your feedback we will continue to rely on your valued support and engagement to reach our common goals of producing outstanding graduates who excel in the profession and continue to remain part of the LeBow family as active members. Hubert Glover Chair, Accounting Department FALL 2016 DEPARTMENT OF ACCOUNTING NEWSLETTER ADVISORYCOUNCIL Thomas M. Koncsics ’90 (Chair) Partner, KPMG LLP Michael P. Gremo, CPA ’93 Partner, Grant Thornton Duane Amendola, CPA ’95 Vice President & Assistant Controller Comcast Cable Deanna M. Byrne ’92 Partner, Assurance Services PriceWaterhouse Coopers, LLP John R. Culbertson, CPA ’04 Manager, Bowman & Company LLP Edward Furman, CPA ’76 Partner, Maillie, Falconiero & Company Beth Hanssens ‘91 Senior Business Executive Nancy L. Gunza, CPA ’85 Partner, CliftonLarsonAllen Thomas A. Masci Jr., CPA ‘68 Co-Founder- served as EVP and CFO, Retired Health Advocate, Inc Debra Martino 94’ AVP Corporate Tax Lincoln Financial Group Eric Page, CPA 98’ Director of Controls Compliance Airgas Michael Purcell ‘87 Partner, Deloitte LLP Patricia Russo, CPA 95’ Assistant Vice President & Controller Drexel University William Stickney, CPA Partner, Grant Thornton Steve Swartz Partner, Gold Gerstein Group LLC John Cao ‘13 Cognitive Automation Value Architect KPMG Albert DeRitis ‘85 Value Stream Leader Director - Neuroscience Johnson & Johnson Diana DiStefano ‘12/’13 Tax Associate, PwC Arpita Patel ‘10 Supervisor- Anti-Money Laundering Mercadien Scott Ross ‘14/’15 Tax Associate, PwC Jeff Shafer ‘12 Senior Assurance Associate, PwC Schuyler Simms ‘06 Senior Technical Manager of Professional Practice, IAASB David Small VP & Chief Audit Officer, CHOP Chantee Steele ‘13 Advisory Senior Consultant Deliotte William Neil ‘10 Senior Audit Associate, BDO Mark Stutman ‘72 Retired, Grant Thornton Merhawny Worde ‘05 Audit Senior Manager, Deloitte THANK YOU HUBERT Dr. Hubert Glover joined the faculty in 2010 and has been the department head for the last two years. His influence has been much larger than that short time period would suggest. For those of you who have had a chance to interact with him, you know he advocates the C’s – Compassion, Competence, Collaboration, Communication, and Critical Thinking. Hubert modeled each of them in his leadership and dedication to the accounting profession. I could give you many examples of each, but let me pick creativity. Hubert always looked for a creative ways to make education rewarding. Not just at the student level, but with our faculty, administrators and alumni. He always tried to create new ways to include all stakeholders in the education process and to have the experience be rewarding. From all of us here at LeBow, we want to thank Hubert for inspiring us. Looking ahead, my goal is to continue to build on the theme of collegiality and collaboration. Collaboration among the faculty, students, alumni, and friends of the department increases our research impact, learning in and out of the classroom, and fosters a stronger overall profession. I look forward to connecting and investigating opportunities to collaborate. Barbara Grein Chair, Accounting Department
  • 2. FALL 2016DEPARTMENT OF ACCOUNTING NEWSLETTER LEBOW.DREXEL.EDUDREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS DEPARTMENT OF ACCOUNTING 32 STUDENT NEWS ACCOUNTING AND SPORT MANAGEMENT GRAD HEADED TO HARVARD LAW By Natalie Shaak | Jun.6,2016 To say John Quagliariello had a busy college experience would be an understatement. Not only is he completing requirements for two undergraduate degrees with three six-month co-ops in just five years, he did so as a Division I student-athlete. John received his bachelor of science degrees in sport management and businessadministrationwithamajorinaccountingthisspring.Butcompleting his degrees won’t give him much time to relax. His busy lifestyle will continue as he heads to Harvard University Law School in the fall. John grew up outside of Philadelphia in Springfield, PA, and came to Drexel as a sport management major and member of the varsity swim team. His father, also named John, graduated from Drexel’s engineering program in 1986, but John says his father didn’t push him to choose Drexel. It was joining the Drexel swim team that made the decision for him. Academics have always been a priority for John. It was in planning his freshman year schedule that he noticed a number of classes required for the sport management program were offered through LeBow. He thought it would make sense to see if he could plan a schedule that would allow him to get degrees in both business and sport management. He worked with advisors from both programs to identify the classes that overlapped so he could fit his coursework into just five years. Of course this meant taking 18 to 20 credits per term along with his practice and competition schedules. Inthisplanning,hemadesurethathisco-opexperiencesreflectedthecross- discipline nature of his academic coursework. It was during his accounting co-op at Sunoco that he started to explore the idea of pursuing his law degree. “Iwasworkingintheaccountingfirmwithtaxattorneys,andIlikedwhatthey were doing more than just what the general accountants were doing,” he says.“Intalkingtothem,theystartedtonudgemeinthatdirection.Istartedto do some self-reflection and studying for the LSATs, and here we are.” His long-term goal is to work in collegiate athletics, ideally in an athletic director role. He sees his combination of studies as ideal for this career path. “I feel that having a business degree underneath me as well as sport managementdegreeisreallygoingtohelpmeoutwithanychallengesImight face,” John says. Hehopesaddingalawdegreetohisbackgroundwillmakehimevenstronger in pursuit of this goal. LEBOW SENIOR NAMED DREXEL STUDENT LEADER OF THE YEAR By Natalie Shaak | May18,2016 Senior accounting and finance major Andres Vivas Lopez was presented with the Student Leader of the Year Award on May 12 at the annual awards banquet sponsored by Drexel Student Life and the Undergraduate Student Government Association. The award is presented to one undergraduate student each year who “has shown outstanding leadership and vision and has exemplified a dedicated involvement and commitment to making a difference in the lives of Drexel students.” Andres transferred to Drexel from the Community College of Philadelphia after completing his associate’s degree in business administration in 2013 and immediately got involved on campus, joining the Accounting Society and the Association of Latino Professionals for America (ALPFA). He served as the president of both organizations over the past two years. His nominator, Hubert Glover, PhD, head of the Accounting Department, noted his compassion, sincerity, communication skills and leadership ability as what sets him apart. “He is remarkable in his unselfish focus on helping others reach common goals,” says Glover. “He represents the best of the University where our experiential learning advantage develops maturity, insight and professional capability prior to graduation. His co-op employers have been impressed by his leadership, communication and sincere interest in connecting with people, which is the core of their business.” As for his leadership philosophy, Andres repeats what he frequently shares with his fellow students: “Work smart, not hard. There’s no need to reinvent the wheel. Hard work is appreciated and admired, but not at the expense of efficiency.” Andres will be working for KPMG, his former co-op employer, following graduation in June. KPMG’S FUTURE DIVERSITY LEADERS Drexel University students Sofia Bastida and KeShaun Hinmon were selectedtoattendtheFutureDiversityLeadersConference(FDL),athree-day leadership development program sponsored by KPMG LLP (KPMG). The Future Diversity Leaders Conference took place in Hollywood, California, on July 14–16, 2015. The exclusive program is facilitated by KPMG partners and includes only 83 top students from across the United States. This highly interactiveprogramisdesignedtoprovidestudentstheopportunitytonetwork with peers and KPMG professionals, to learn about the public accounting profession, and most importantly, to further develop their leadership skills through a robust curriculum designed specifically for FDL. Students selected for FDL were chosen because they exhibit KPMG’s core values, demonstrate academic prowess, and are leaders on campus and in their communities. MIRACULOUS BIRDIE AT NEW JERSEY SECTION EARNS CHRIS CRAWFORD, ACCOUNTING MAJOR ‘16, A U.S. OPEN BERTH By David Dusek | Jun.6,2016 SUMMIT, N.J. – The sun washed down on the North and South courses at Canoe Brook Country Club on Monday. The fairways and greens were soft from storms that brought rain to the area on Sunday evening as a record 98 golfers each tried to earn one of the six spots available here for the 2016 U.S. Open at Oakmont. Whenitwasover,JimHermanfromPalmCity,Fla.,thewinnerofthisseason’s Shell Houston Open, shot a 67 on the North course in the morning and a 70 on the South for a 7-under 137. That score tied him for medalist honors with fellow PGA Tour player Rob Oppenheim from Orlando, Fla. The other golfers who qualified to play in next week’s U.S. Open were Andy Pope (Orlando, Fla.), Michael Miller (Brewster, N.Y.), Justin Hicks (Wellington, Fla.) and amateur Christopher Crawford from Bensalem, Penn. Each of the four shot 6-under 138. HONORS DAY- ACCOUNTING DEPARTMENTAL AWARDS Coopers & Lybrand Achievement Award: Andrew Figueroa Ernst & Young Endowed Scholarship: Cindy Ly Judith Fenoglio Daw Memorial Scholarship: Vishala Apoorva Addepalli CD Clarkson Award: Sokcheng Chan Dupont Minority Education Fund: Keshaun Hinmon J & S Bornstein Endowed Scholarship Fund: Geoffrey Wittenberg Weber Endowed Scholarship Fund: Nobel Heard HUBERT D. GLOVER, STUDENT LEADERSHIP AWARDS 2015 Hubert D. Glover, Student Leadership Awards 2015 A few words from Dr. Glover to the recipients: “I have been blessed and fortunate to work with you since 2010 supporting the Accounting Society, ALPFA, Ascend, Beta Alpha Psi and NABA. The achievements of each of these organizations has been the result of outstanding leadership as represented by each of you. I look forward to seeing you and for your continued support to Drexel University and to our great profession. “ Awardees each received a $150 gift card. Organization or Purpose Award Winner Accounting Society Scott Ross ALPFA Francisco Michaud Andres Viva Lopez Ascend John Cao Linh Duong Beta Alpha Psi Marissa Neale NABA Jeff Shafer Student of the Year George Peart KPMG Sofia Bastida Keshaun Himmon JOIN US! Annual CPE Conference October 14, 2016, 7:30am-4pm Gerri C. LeBow Hall LeBow College of Business
  • 3. FALL 2016DEPARTMENT OF ACCOUNTING NEWSLETTER LEBOW.DREXEL.EDUDREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS DEPARTMENT OF ACCOUNTING4 1ST PLACE “Compliance Kings” Joseph Adie, Yufan Fei, Zhuo Wang, Seth Brandenburg. Coached by Maureen Breen of Drexel University 2ND PLACE “Debits and Credits” Henry Moldavskiy, Zhuoping Zhang, Joseph Campbell, Alissa Reichert. Coached by Daniel Kline of Deliotte 3RD PLACE “It’s Accrual World” Jian Huang, Qi Wang, Brian Melton, Sijie Fu Coached by Arpita Patel of Mercadien 4TH PLACE “Let’s Get Fiscal” Kyle Kallos, Xiaochen Guo, Linh Nguyen, Daniel Duffy Coached by Larry D’Andrea of Drexel University ANNUAL FRAUD AND INTERNAL CASE CONTROL COMPETITION HELD ON FEBRUARY 12, 2016 TEAM PRIZES 1ST PLACE $500 ($125 per each team member) 2ND PLACE $300 ($75 per each team member) 3RD PLACE $200 ($50 per each team member) 4TH PLACE $100 ($25 per each team member) HIGHLIGHTED EVENTS OF 2015/16 LAFSA – LEBOW ACCOUNTING FACULTY, STUDENTS AND ALUMNI The 2015 annual accounting award night, sponsored by Global Tax Management, honored Joseph DiBianca as the Beta Alpha Psi Outstanding Alumnus of the year. Mr. DiBianca is the founder of Global Tax Management, Inc. and now serves as Chairman and Strategic Advisor. He is responsible for leading the company’s growth and strategic planning initiatives, supporting client relations, and advising the firm’s management team. A charter member of the Delta Tau Chapter of Beta Alpha Psi at Drexel Univeristy, Joe is a true supporter of the accounting students at LeBow College of Business. The department also presented Golden Calculator Awards to the following Alum, faculty and friends of the department: Frank Pina- Alumnus of the Year Diana DiStefano- Young Alumnus of the Year David Smalls- Friend of the Department Stacy Kline- Professor of the Year Jennifer Wright- Professor of the Year Andres Vivas Lopez- Student of the Year STUDENT ACTIVITIES CPA TREK TO WASHINGTON, DC Our accounting students took a trek to Washington DC to see the city, meet with various accounting organizations and talk about life and business in the metro area. The morning started early as we loaded the bus at 8 am, with coffee in hand, to arrive in DC. We were greeted by Sarah Turcotte and Lee Klumpp from BDO who lead off the day with a discussion about the nonprofit industry and it is differentiated from working with for-profit companies. It was an interesting discussion and students enjoyed the lively presentation. Thanks to BDO for providing lunch and conversation. The group then walked past the White House to the Center for Audit Quality (CAQ) on K street. The CAQ hosted our students and discussed their organization’s history, current projects and their mission. Thank you to Catherine Nance, CPA, Nicole Holden, CPA, and Margot Cella, Director of Research who provided insight to our students about the accounting profession and the industry beyond the debits and credits of financial statements. Our final presentation was back at the Washington, DC office of Drexel University from PWC. Stephanie Wolf, Omar Toor and Darryle Jones provided a fun discussion on the unique projects that they experienced in their years working for the firm in Washington DC. Our students also enjoyed hearing about the career paths of all the professionals. Afterwards, all our presenters were invited to a networking event with alumni and friends. Students were able to ask questions and continue the conversation about working and living in the DC area. Thanks to all alum who joined us for food, drinks and mentoring. STUDENT AWARDS/ACCOMPLISHMENTS • PICPA Scholarships: Elena Smirnova, Andres Vivas Lopez, Igor Gateniuk, Jody Lo • Ilona Schaeffer, Tax Executives Institute Award • Joseph Amato and Dylan McCauley Placed 3rd in Forensic Accounting Competition in Atlanta at the CFE • KPMG ALPFA Case Competition Participants selected as one of 24 schools nationwide (Daniela Munoz (Finance Marketing), Bernardo Veratti (Supply Chain Management), John Warkala (Accounting Finance), Andres Vivas Lopez (Accounting Finance) 5
  • 4. FALL 2016DEPARTMENT OF ACCOUNTING NEWSLETTER LEBOW.DREXEL.EDUDREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS DEPARTMENT OF ACCOUNTING 76 STUDENT ACTIVITIES AUDIT MARKET CONCENTRATION, AUDIT FEES AND AUDIT QUALITY: EVIDENCE FROM CHINA AUDITING: A JOURNAL OF PRACTICE THEORY (MAY 2016) This study investigates effects of audit market concentration on audit fees and audit quality in China. Results suggest that concentration improves audit quality indirectly through increased audit fees and offsetsthenegativedirecteffectofconcentrationonauditquality.Findingsinformregulatorsthatactions taken to eliminate the indirect effect of concentration could produce unintended outcomes such as decreased audit quality. ERIC LOHWASSER • His paper “U.S. Listed Chinese Reverse Mergers: Fraud Indication for Auditors and Stakeholders “coauthored with Khim Sim (Western Washington University) and Anthony Curatola has been accepted for presentation at a concurrent session of the AAA annual meeting. • He was a discussant for the paper “Common Auditors and Private Lending By Banks” to be presented at the AAA annual meeting. YAOU ZHOU • She was a discussant for a paper “corruption, Independent Audit, and Equity Value” Presented at the AAA annual meeting in NYC. TAO SUN • His paper “Black-Scholes vs. the IRS: Gains and Losses from Revaluing Stock Options after Spinoffs” coauthored with Mark Vargus, was presented in a concurrent session at the 2016 Journal of Accounting, Auditing and Finance Conference to be held at Lake Louise, Banff National Park, Canada. • Tao was a discussant for the paper “Audit Firm Reaction to SEC Enforcement Proceedings Against a Client: Evidence of City-Level Audit Office Behavior” at the AAA annual meeting. PHD NEWS FACULTY NEWS HSIHUI CHANG, PHD ACCOUNTING The 2016 Drexel LeBow Bridging Practice and Theory Summit brought together regional academics and a variety of business professionals to discuss topics crucial to both communities. Keynote speakers and discussion panelists discussed United Nations sustainability goals, academia’s role in business analytics and the role of experiential learning for students and professionals. Kyra Krysinski, a strategy and relationship executive for the United Nations, Deloitte Services Limited, deliveredamorningkeynoteentitled,“Organizational Sustainability as a Global Trend and its Impact on Business Leaders.” The presentation highlighted the role of business and future leaders in the UN’s 15 Sustainability Goals. Attendees had vibrant discussions on topics relating to sustainability such as social equity, private sector roles, sustainability in project management decisions and millennials’ desire to have an impact. The second session highlighted business analytics and the role of research in corporate strategy decisions. Patricia “Trish” Oelrich, principal at OelrichandAssociates,andMuruganAnandarajan, professor of decision sciences and management department head at Drexel LeBow answered questions from attendees about relevant research and the business applications. Participants exchanged ideas in the area of leadership and strategy, governance and policy and analytics and performance in break-out sessions. The final panel discussion highlighted the various ways that experiential learning is used in the college classroom and during in-house corporate training. Rebekka Shepherd, assistant director of Drexel LeBow’s Dornsife Office for Experiential Learning moderated. Panelists were gathered from varying fields, they included: Leslie Kendrick, JohnsHopkinsUniversity,KimberlyKletcheckHart, KPMG LLP, Chris Lindberg, Ennea International, and Scarlett McCahill, Project HOME. The summit provided a productive and fruitful forum for regional professionals and business faculty to network and collaborate. Attendees, sponsorsandvolunteersallcontributedimmensely to the success of the Summit. BPTS- BRIDGING PRACTICE AND THEORY SUMMIT 2016 Our doctoral students continue to perform admirably. The latest accomplishments include:
  • 5. FALL 2016DEPARTMENT OF ACCOUNTING NEWSLETTER LEBOW.DREXEL.EDUDREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS DEPARTMENT OF ACCOUNTING 98 6 8 10 Professor Jennifer Wright and Professor Stacy Kline received a grant from PWC to work on a unique senior capstone project to be embedded in to the third Financial Reporting course taken by all accounting majors at LeBow College of Business. The goal of the project is to help students culminate their accounting experiences in the Financial Reporting course sequence and demonstrate their understanding of various concepts they learned in all accounting classes. The uniqueness of this project related to the cross-over of courses. Students enrolled in Financial Reporting III complete a multi-part senior capstone project. One part of this project requires students to collaborate and consult with students in another major accounting class link the accounting experience across the curriculum. • During winter term, students enrolled in the FinancialReportingIIIclassconsultedtheBusiness Tax class on the tax provision that was completed for the financial statements. The students enrolled in the Business tax course reviewed the provision and suggested correcting adjustments or raised issues relative to the tax provision. • During spring term, students enrolled in the third Financial Reporting class were asked to work together with the Cost Accounting class on a lease versus buy decision and determine the effects on the financial statements. Business decisions are increasingly complex and interdisciplinary, calling on knowledge across many business-related disciplines. The daily tasks and responsibilities of newly licensed CPAs require knowledgebeyondsimpletask-basedskillsbutneed to have a higher level of professional skepticism and an increased integration of accounting concepts. The changes that will be made to the CPA exam in coming years address these issues. The senior capstone project was developed to help prepare students for a career in accounting and successful licensure, as well as to engage students in a multi-course project that crosses the accounting disciplines and promotes a deeper learning and integration of business concepts. In addition to reviewing technical competencies, students learned the importance of teamwork, communicating information and meeting deadlines. Students had to make decisions as a team and ensure clear communication of any adjustments they felt were necessary to the projects. Students had to provide reliable data in a timely fashion and then make adjustments before the deadline. All of us in the profession understand the difficulties this can present in meeting client due dates. The feedback from the students was generally positive in the overall learning experience, but all students wanted more time; don’t we all. Professors Kline and Wright presented their project and experiences at the American Accounting Associations’ Annual Meeting during the Center for TeachingandLearningSymposiuminAugustof2016. PWC END OF BUSY SEASON This past Spring term a team of fourteen undergraduate students applied their Drexel classroom knowledge to assist a local not-for- profit organization, Project HOME, with their system of internal controls. The team divided their time between the classroom and the location. In the classroom they learned about designing, testing and improving systems of internal controls. Though some of the students had previous coursework in the area, this unique opportunity made them evaluate the applicability of their classroom learning to a live accounting department. Thentheytookthatknowledgetothenextlevelandwent outtoProjectHOMEtodocumenttheexistingsystems. They conducted interviews, collected documentation, researched system improvements and designed tests of the current system. They learned about the work done by Project HOME and saw how they could apply their business skills in civically engaged work. As the term progressed the students developed a working relationship with management and staff at Project HOMEandmanagedtheirconsultingengagementwith increasing independence. The final exam was a presentation to the Finance Committee of the Board of Directors, a challenging test of their learning and their ability to apply that learningatthetopleveloftheorganization.Everyone aced the final! PROJECT HOME
  • 6. FALL 2016DEPARTMENT OF ACCOUNTING NEWSLETTER LEBOW.DREXEL.EDUDREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS DEPARTMENT OF ACCOUNTING 1110 SPONSORSHIPS: TITLE SPONSOR - $10,000 ($6,040 Tax Deductio DINNER SPONSOR - $7,500 ($5,520 Tax Deducti PRESENTING SPONSOR - $5,000 ($3,020 Tax D GOLFER SHOE SPONSOR - $5,000 ($3,020 Tax D LUNCHEON SPONSOR - $5,000 ($3,020 Tax Ded REFRESHMENT SPONSOR - $5,000 ($3,020 Tax FOURSOME - $3,000 ($1,020 Tax Deduction) REGISTRATION SPONSOR $2,500* - Special sponsor signage at registration DRIVING RANGE SPONSOR $1,000* - Special signage at driving range and bag STRAIGHTEST DRIVE CONTEST SPONSOR $1,000* - Special signage at Straightest Drive Con LONGEST DRIVE CONTEST SPONSOR $1,000* - Special signage at Longest Drive Contes CLOSEST TO THE PIN CONTEST SPONSOR $1,000* - Special signage at 2 Closest to the Pin C HOLE SPONSOR $500* - Company name on tee or green sign RECEPTION AND DINNER ONLY $150 or $250 per couple *Denotes full tax deduction. JOIN US ON MONDAY, SEPTEMBER TO SUPPORT DREXEL UN Your support helps fund scholarships and p 14th ANNUALDREXEL UNIVERSITY LEBOW COLLEGE OF BUSINESS DEAN’S CUP GOLF TOURNAMENT Aronimink Golf Club | September 26, 2016 JOIN US DEDICATIONS We are very fortunate to have the support of our alumni. This past year two exceptionally generous gifts were made to Gerri C. LeBow Hall. Pamela C. and Bruce C. Loch named office 919 the Forensic Accounting Office. And Mr. Tom Masci, an advisory council member of the Department of Accounting, Dedicated the Lobby to his family, his late wife Ellen and daughters Kimberly Masci Cartwright and Stefanie Masci Meno. It is now known as the Masci Family Accounting Lobby. We are truly honored and humbled by your gifts. TO REGISTER: Contact Cassandra Brown clb87@drexel.edu | 215.895.6294 SCHEDULE: Registration/Lunch .....................11 a.m. Start (Shotgun).......................12:30 p.m. Cocktails .......................................5 p.m. Dinner/Awards .............................6 p.m. GOLF FORMAT: Scramble FEES: $3,000 includes foursome, luncheon, refreshments, cocktail reception, dinner, awards and all fees. Individual rates and sponsorship opportunities are available. Please call 215.895.6294 VENUE: ARONIMINK Golf Club 3600 St. Davids Road, Newtown Square, PA 19073 610.356.8000 The course was designed by Donald Ross in 1928. Ross’ original design was to incorporate a parkland setting with more than 100 bunkers, slopes, valleys and doglegs in an effort to require superior shot making. Recently, Aronimink has undergone a restoration and renovation project guided by architect Ron Prichard in an effort to restore all bunkers to their original design, add an additional five acres of fairways (up to 31 acres) and restore the pond in front of the 10th green. SPONSORSHIPS: TITLE SPONSOR - $10,000 ($6,040 Tax Deduction) DINNER SPONSOR - $7,500 ($5,520 Tax Deduction) PRESENTING SPONSOR - $5,000 ($3,020 Tax Deduction) GOLFER SHOE SPONSOR - $5,000 ($3,020 Tax Deduction) LUNCHEON SPONSOR - $5,000 ($3,020 Tax Deduction) REFRESHMENT SPONSOR - $5,000 ($3,020 Tax Deduction) FOURSOME - $3,000 ($1,020 Tax Deduction) REGISTRATION SPONSOR $2,500* - Special sponsor signage at registration and bag drop-off DRIVING RANGE SPONSOR $1,000* - Special signage at driving range and bag drop-off STRAIGHTEST DRIVE CONTEST SPONSOR $1,000* - Special signage at Straightest Drive Contest Holes LONGEST DRIVE CONTEST SPONSOR $1,000* - Special signage at Longest Drive Contest Holes CLOSEST TO THE PIN CONTEST SPONSOR $1,000* - Special signage at 2 Closest to the Pin Contest Holes HOLE SPONSOR $500* - Company name on tee or green sign RECEPTION AND DINNER ONLY $150 or $250 per couple *Denotes full tax deduction. JOIN US ON MONDAY, SEPTEMBER 26, 2016 AT THE PRESTIGIOUS ARONIMINK GOLF CLUB TO SUPPORT DREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS. Your support helps fund scholarships and programs to attract the best students — a hole-in-one by any standard! 14th ANNUALDREXEL UNIVERSITY LEBOW COLLEGE OF BUSINESS DEAN’S CUP GOLF TOURNAMENT Aronimink Golf Club | September 26, 2016 JOIN US TO SCHE GOLF FEES refres fees. availa VENU The c Ross’ settin dogle Rece renov an ef add a and r SPONSORSHIPS: TITLE SPONSOR - $10,000 ($6,040 Tax Deduction) DINNER SPONSOR - $7,500 ($5,520 Tax Deduction) PRESENTING SPONSOR - $5,000 ($3,020 Tax Deduction) GOLFER SHOE SPONSOR - $5,000 ($3,020 Tax Deduction) LUNCHEON SPONSOR - $5,000 ($3,020 Tax Deduction) REFRESHMENT SPONSOR - $5,000 ($3,020 Tax Deduction) FOURSOME - $3,000 ($1,020 Tax Deduction) REGISTRATION SPONSOR $2,500* - Special sponsor signage at registration and bag drop-off DRIVING RANGE SPONSOR $1,000* - Special signage at driving range and bag drop-off STRAIGHTEST DRIVE CONTEST SPONSOR $1,000* - Special signage at Straightest Drive Contest Holes LONGEST DRIVE CONTEST SPONSOR $1,000* - Special signage at Longest Drive Contest Holes CLOSEST TO THE PIN CONTEST SPONSOR $1,000* - Special signage at 2 Closest to the Pin Contest Holes HOLE SPONSOR $500* - Company name on tee or green sign RECEPTION AND DINNER ONLY $150 or $250 per couple *Denotes full tax deduction. JOIN US ON MONDAY, SEPTEMBER 26, 2016 AT THE PRES TO SUPPORT DREXEL UNIVERSITY’S LEBOW C Your support helps fund scholarships and programs to attract the best st 14th ANNUALDREXEL UNIVERSITY LEBOW COLLEGE OF BUSINESS DEAN’S CUP GOLF TOURNAMENT Aronimink Golf Club | September 26, 2016 JOIN US TO REGISTER: Contact Cassandra Brown clb87@drexel.edu | 215.895.6294 SCHEDULE: Registration/Lunch .....................11 a.m. Start (Shotgun).......................12:30 p.m. Cocktails .......................................5 p.m. Dinner/Awards .............................6 p.m. GOLF FORMAT: Scramble FEES: $3,000 includes foursome, luncheon, refreshments, cocktail reception, dinner, awards and all fees. Individual rates and sponsorship opportunities are available. Please call 215.895.6294 VENUE: ARONIMINK Golf Club 3600 St. Davids Road, Newtown Square, PA 19073 610.356.8000 The course was designed by Donald Ross in 1928. Ross’ original design was to incorporate a parkland setting with more than 100 bunkers, slopes, valleys and doglegs in an effort to require superior shot making. Recently, Aronimink has undergone a restoration and renovation project guided by architect Ron Prichard in an effort to restore all bunkers to their original design, add an additional five acres of fairways (up to 31 acres) and restore the pond in front of the 10th green. SPONSORSHIPS: TITLE SPONSOR - $10,000 ($6,040 Tax Deduction) DINNER SPONSOR - $7,500 ($5,520 Tax Deduction) PRESENTING SPONSOR - $5,000 ($3,020 Tax Deduction) GOLFER SHOE SPONSOR - $5,000 ($3,020 Tax Deduction) LUNCHEON SPONSOR - $5,000 ($3,020 Tax Deduction) REFRESHMENT SPONSOR - $5,000 ($3,020 Tax Deduction) FOURSOME - $3,000 ($1,020 Tax Deduction) REGISTRATION SPONSOR $2,500* - Special sponsor signage at registration and bag drop-off DRIVING RANGE SPONSOR $1,000* - Special signage at driving range and bag drop-off STRAIGHTEST DRIVE CONTEST SPONSOR $1,000* - Special signage at Straightest Drive Contest Holes LONGEST DRIVE CONTEST SPONSOR $1,000* - Special signage at Longest Drive Contest Holes CLOSEST TO THE PIN CONTEST SPONSOR $1,000* - Special signage at 2 Closest to the Pin Contest Holes HOLE SPONSOR $500* - Company name on tee or green sign RECEPTION AND DINNER ONLY $150 or $250 per couple *Denotes full tax deduction. JOIN US ON MONDAY, SEPTEMBER 26, 2016 AT THE PRESTIGIOUS ARONIMINK GOLF CLUB TO SUPPORT DREXEL UNIVERSITY’S LEBOW COLLEGE OF BUSINESS. Your support helps fund scholarships and programs to attract the best students — a hole-in-one by any standard! 14th ANNUALDREXEL UNIVERSITY LEBOW COLLEGE OF BUSINESS DEAN’S CUP GOLF TOURNAMENT Aronimink Golf Club | September 26, 2016 JOIN US AroniminkGolfClub September26,2016 Dr. Glover and Professor Wright attended the NASBA regional meetings in June and presented preliminary research findings on “Best Practices for Preparing International Students for the Uniform CPA Examination”. This research was funded with a grant from NASBA. Dr. Alfonzo D. Alexander, Chief Relationship Officer with NASBA, is pictured at the Denver, CO and Asheville, NC regional meetings. CONSIDER PURSUING YOUR PHD OR EXECUTIVE DBA by Professor Christopher Laincz, Director, LeBow PhD Program. As the PhD Director, people often ask me for advice about PhD Programs. My first response to their questions is more questions, “Why? What do you think you will get in a PhD Program?” Then I tell them, “know what you are getting yourself into first.” After, and only after, we have had that conversation do we begin to discuss how to go about finding and getting into a PhD Program. To learn more, we created a series of posts on LinkedIn meant to demystify PhD Programs, handle the application process, and increase your chances of not just getting into a program, but getting into one you’ll be happy with once you’ve made the decision to apply. Please use this URL: http://tinyurl.com/h3gnvz7. WHAT ABOUT A PHD IN ACCOUNTING? Join bright motivated individuals looking to launch a successful career in academia as a student in the LeBow PhD in Business program with a specialization in accounting. As a LeBow Accounting PhD student you can take advantage of a wide range of opportunities, enhancing your competence in research and teaching at multiple levels throughout the program. Our faculty take pride in working closely with our PhD students, developing and refining the skills necessary for conducting and publishing academic research and achieving strong placements in their field. See the LeBow information here www.lebow. drexel.edu/academics/doctorate/accounting. HOW CAN YOU SUPPORT THE DEVELOPMENT OF MORE ACCOUNTING PHDS? Drexel LeBow fully funds PhD students, an important investment for the College and University since it fulfills our mission to produce future thought leaders and outstanding instructors. Every donation assists our students with opportunities for success. Your assistance and support are needed so that we may continue to provide stipends and tuition to attract and support top students. Make your contribution here to support PhD students: http://tinyurl.com/j8gebgv. NASBAPRESENTATION
  • 7. Expand Your Expertise. Save the Dates! Get CPA ready with a Master’s in Accounting from Drexel LeBow. We offer a one-year option for students with a U.S.-based BS in accounting, as well as a comprehensive two-year option. DREXEL LEBOW MS in Accounting For More Info visit LeBow.Drexel.edu/MS Meet the Accounting Students A LeBow Recruiting Event 5-7pm Berhakis Grand Hall September 29, 2016 End of Busy Season Alumni Reception GHall 220 April 27, 2017