“Embracing the Opportunity” · 2019-01-30 · “Embracing the Opportunity ... Alexus Clark Christal Kurosaki Dave’Cia Randall Derrick Andrews Kadeja Murray Kristen Shelton

Annual Report May 1st, 2017-April 30th, 2018. Page: 1

“Embracing the

Opportunity”

Annual Report May 1st, 2017-April 30th, 2018

Beta Alpha Psi

Accounting Society University of Arkansas Little Rock



Beta Alpha Psi Annual Report

Page

Vision Statement 4

Mission Statement 4

Epsilon Pi Chapter 5

Members & Candidates 5

Outstanding Faculty 6

Fall 2017: Events/Meetings 7

Annual Meeting 8-9

Annual Meeting: Project Run With It 10

Annual CPE Event Fundraiser 11

John Fiebig PCAOB Speaker 12

Annual CPE Event Fundraiser 13

Spring 2018: Events/Meetings 14

VITA 15

VITA Pictures 16

Regional Meeting: Oklahoma City 17-18

Kudos and Publicity: Regional Meeting 19

Best Practices Presentation 20-23

Initiation Ceremony 24

MD & A 25-26

Chapter Goals 27

Financials/Budget 28-29

TABLE OF CONTENTS


Beta Alpha Psi will shape the financial and business

information professions by developing members into

ethical, professional, and confident leaders.

The mission of Beta Alpha Psi, the premier international

honor and service organization for financial and business

information students and professionals, is to inspire and

support excellence by:

• Encouraging the study and practice of accountancy,

finance, and information system

• Providing opportunities for service, professional

development, and interaction among members and

financial professionals

• Fostering lifelong ethical, social, and public

responsibilities

Vision Statement

Mission Statement


FALL SPRING

PRESIDENT Nathan Nalley Julia Virahovskaya

VICE PRESIDENT Jonas David James Hubbard III

TREASURER Alex Segalla Alex Segalla

REPORTER Megan Lunsford Christian Kurosaki

Alexus Clark

Christal Kurosaki

Dave’Cia Randall

Derrick Andrews

Kadeja Murray

Kristen Shelton

Lisa Barnett

Minh Nguyen

Robbie Petty

Tandie Kenser

Adrianna Dodson

Alexander Segalla

Amanda Davis

Dakota Meeks

Gene Johnson

James Hubbard III

Noah Asher

Julia Virahovskaya

Epsilon Pi Chapter

Members & Candidates


One of the most vital elements in the success of Beta Alpha

Psi are the faculty advisors. Through countless hours of

commitment, they make substantial contributions to the

professional growth and development of business financial

information students.

Professor Cynthia Johnson Professor Cynthia Shavers

Outstanding Faculty Advisors


Events:

• Annual Meeting

• Carnival of Clubs

• Meet the Firms

• Camp Robinson

• ASCPA Career Fair

• Trivia Night

• Corn Bread Festival

• Reality Fair

• CPE Event

Meetings: Speakers/Workshops:

• Shannon Gwinn-Resume

• Blake Norman-

Entrepreneur

• USAble Life

• CMA

• Institute of Internal

Auditors

• Next Step Networking

Fall 2017: Events/Meetings


Anaheim, California Aug. 3-5th 2017

Attendees:

• Nathan Nalley

• Jonas David

• Adrianna Dodson

During the 2017 annual meeting in Anaheim, Beta Alpha Psi partnered

with KPMG LLP, KPMG Foundation and the Orange County United Way

for BAP International Day of Literacy. Volunteers visited local

organizations in underserved neighborhoods. The program introduced

over 2,400 K4-8th grade students to the exciting world of reading. Also, as a

part of BAP International Day of Literacy volunteers donated school

supplies.

Annual Meeting August 3-5th 2017

Jonas David & Nathan Nalley


Annual Meeting

Received Distinguished Chapter Award

Anaheim, CA

Requirements for Distinguished Chapter All of the following are required in an academic year order for our

chapter to qualify as a distinguished chapter:

5 Reaching out activities (a 2nd initiation can be one)

6 Professional activities (one must be an essential skill)

1 Service activity

Professional and service activities must be 50 minutes long and have 25%

of all members/candidates participate

Each member must have at least 8 hours each of professional and service

activities with a total of 20 hours.

A beginning and end of the year report must each be completed and an

initiation must be held.


2017 Participant: Adrianna Dodson

Sponsored by Moss Adams LLP, Project Run With It involves up

to 72 Beta Alpha Psi chapter members working together during

the annual meeting to develop solutions to real life business

problems of actual not-for-profit (NFP) agencies. The students

work in 18 teams of four and have about one day to develop a

formal presentation showcasing their solution to the business

issues presented by the NFPs in their “request for proposal” for

consulting services. Before the meeting, the NFP agencies provide

background information and during the meeting are available to

answer the participating students’ questions.

Annual Meeting August 2017: Project Run With It


Each year our chapter partners with Accounting Society to host an

eight-hour continuing professional education event for CPA’s on

UA Little Rock campus.

2017 CPE Event Speakers:

• James White, Controller, AR Department of Health, Fraud Rationalization,

Governmental

• Roger Dorsey, UALR Professor, Tax

• Joshua Kerr, UALR professor, Tax

• Dan Harpool, owner of Complete Computing, UALR Professor, Cyber

Security

• John Fiebig, Senior Deputy Director, PCAOB, An Update on PCAOB Matters,

Accounting

• Bruce Engstrom, EGP, Forensic Accounting

• Holly Fish, EGP, Networking

• TJ Boyle, Frost, New Lease Accounting Standards, Accounting

• Mark Ohrenberger, Arkansas State Board of CPA’s, State Board Rules, Ethics

Annual CPE Event Fundraiser 12/13/2017


John Fiebig PCAOB Speaker

John Fiebig graduated from Oklahoma State University with a B.S. in accounting. After

graduation, John Fiebig began his career at Arthur Andersen, where he worked for 15 years.

After that he became a partner at Ernst and Young in its assurance practices.

In 2004, Fiebig joined the PCAOB as an associate director.

In 2007, Fiebig became a regional associate director. In this role, he led the Dallas, Houston, and

Denver offices.

From 2007 to 2013, he served as both the global team leader and U.S. team leader for inspections

of a global network firm. Prior to that, he led inspections of non-affiliated and international firms

From 2014 to 2016, Mr. Fiebig was the national office consultations leader, responsible for all

accounting and auditing consultations for the global network firm inspection teams. During this

time, he also led the People Matters group, where he oversaw recruiting, training, performance

management, and compensation for Inspections

Today, John Fiebig is the senior deputy director of the Division of Registration and Inspections

and leader of the Global Network Firm Program. In this role, he is responsible for overseeing the

inspections of the six largest domestic registered accounting firms and their non-U.S. affiliates.


Annual CPE Event Fundraiser 12/13/2017

College of Business published an article on our CPE Fundraiser event. The article

highlighted proceeds of $22,000 where the net proceeds went to Accounting Society

and Beta Alpha Psi. This money is going to support Beta Alpha Psi and Accounting

Society activities such as regional meetings and annual meetings as well as other

events.

Association of Information Systems (AIS) helped us build a database that would allow

us to check in clients on multiple laptops, create a documented page that imported

names, email addresses, and CPA license number. This database also allowed us to

produce an individualized certificate for each participant showing the type and

number of hours attended along with the name and license number. Another

important aspect of this system was the ability to email the individualized certificate

to the appropriate address.

Participants from the AIS club: Hemant Kumar, Moyosooreoluwa Kemi-Rotinmi,

Jazzy James, and Gene Johnson.


Events:

• VITA

• Regional Meeting

• Ethics Forum

• Reality Fair

• Camp Robinson

Meetings: Speakers/Workshops:

• Bank of Ozarks speaker

• Pula Kinnard of AR

Legislative Audit

• Brandon McNab, FBI

• Negotiate your Salary

Spring 2018: Events/Meetings


In Spring of 2018 Beta Alpha Psi provided free tax assistance to the public

as well as the students of UA Little Rock. Volunteer Income Tax

Assistance grant program is an IRS initiative designed to support free tax

preparation services. This allows our students to receive hands on

experience in the accounting profession. Students must be certified in

certain areas of tax to be able to participate in this program.

Volunteers:

• 9 Students: Julia Virahovskaya, James Hubbard, Joe Conic, Joe Griffin, Minh

Nguyen, Derek VanDorple, Alex Segalla, Dakota Meeks, Julian Watson

• 3 Faculty: Cynthia Johnson, Joshua Kerr, Dr. Michael M. Watts

• 2 Alumni: Susan Brewer, Jonas David

Number of Returns:

• Clients: 50

• E-filed: 47

Next year’s improvement:

Volunteers are highly encouraged to earn their non-resident

certification

VITA 2/07/2018-4/04/2018


VITA Pictures


Attendees: (left to right)

1. James Hubbard III

2. Julia Virahovskaya

3. Alex Segalla

4. Christian Kurosaki

5. Gene Johnson

6. Dave’Cia Randall

Attendees were split into two teams and participated in two

competitions.

Best Practices Competition: Hands-on Engagement

2nd Place Award of $250

Participants: Julia Virahovskaya, Gene Johnson, Alex Segalla (left to right)

Regional Meeting: Oklahoma City 2/23/2018-2/24/2018


Chapter Operations: Managing Chapter Growth

Participants: James Hubbard, Christian Kurosaki, Dave’Cia Randall (left to right)

Regional Meeting: Oklahoma City 2/23/2018-2/24/2018

The squad


Kudos and Publicity Regional Meeting

Beta Alpha Psi competed at the Southwest regional meeting in Oklahoma City and placed 2nd in

Best Practices Competition. We competed with 9 other teams in that category. We also

received an award of $250 for placing 2nd in the competition. The competition was focused

around the CPE fundraising event that is held annually at the end of the fall semester in

December. This event is the main fundraising event in which all the members of the chapter

participate.

The main focus of our presentation was our new database that allowed easy registration of

participants. This database also made it easy for us to distribute the certificates for attending our

CPE event. To make this possible we contacted the Association of Information Systems (AIS)

club and they built a database that would allow us to register, collect payments, ensure accuracy,

and to promptly distribute the certificates. Many of our clients were able to receive their

certificates within an hour of leaving the event.


Best Practices Presentation

In the presentation we established goals how to improve our database and CPE

event:

• Collaborate with Information Technology Student club to develop a system

to improve the registration and check out process

• To involve as many students as possible

• Give students an opportunity for leadership

We involved other clubs in our event:

• Beta Alpha Psi

• Accounting Society

• Association for Information Systems

Gave more responsibilities to Chapter members with leadership positions:

• Registration Manager

• Speaker Hosts

• Greeters etc.

Provided opportunity to network with professionals:

• Over 174 CPAs

• 9 Speakers



Development of the new database:

• enabling a computerized check-in system on several laptops

• creating a documentation page using imported names,

email addresses and CPA license numbers

• producing an individualized certificate for each participant

showing the type and number of hours attended along with

the name and license number;

• emailing the individualized certificate to the appropriate

address.



Advantages of the new database

• Easy storage and maintenance of data.

• User friendly interface, easy to navigate.

• Automated Functionality

• Easy to generate certificates for participants.

• Very efficient as it saved time and effort.

• Data can be reused.

4.58

3.19 3.41 3.312.93 3.08

3.653.23

4.64

3.87 3.89 3.944.23 4.24 4.11 3.99

1

2

3

4

5

Attendee Survey Results, 1 = Poor, 5 = Excellent

2016 2017



Future goals for improving database:

• expand the system to email information to a large list service

including a link to registration

• allow participants to input their name, CPA license number and

email address

• allow participants to pay us directly for the event without using

Eventbrite

• email an event package to registered participants prior to the

event.


Initiation Ceremony

January 22, 2018

• Noah Asher

• Julia Virahovskaya

• James Hubbard

• Dakota Meeks


MD & A

Past Successes:

Carnival of Clubs: Every year the College of Business host this event so

each organization is able to represent their own organization and recruit

new memberships. This is an important event for us because this is

where we are able to recruit new members. Carnival of Clubs includes

attractions such as circus carnival games, contests, free popcorn, and the

“Dunk the Funk” challenge.

Meet the Firms: Meet the firms is an event that allows our accounting

students to network and potentially receive internships as well as full

time positions.

Camp Robinson: Camp Robinson is a service event that we attend to

speak to trouble youth throughout the year. This is important to us

because it is our way to give back to the community and encourage

young children to go to college.

Reality Fair: This event is a way to teach financial literacy to students

ages of fourteen and up. Reality Fair allows student to learn how to

budget their expenses based of off their potential salary that is based on

their major.


MD & A

Ideas for chapter growth:

Investment/Finance committee: This committee is designed to involve

more finance students in the Epsilon Pi chapter. We allowed to invest

$5,000 in stocks and build a portfolio to encourage collaboration with

accounting and finance majors.

Clean up day: This is another service activity that we came up with to

involve more students in community service. This event would

include picking up trash at a park or any other area that is needing this

service.

Tutoring: This is designed to help our fellow students who are

struggling with accounting classes such as intermediate financial

accounting I & II and possibly other classes depending on availability.

Mentoring: This program is similar to “big/little” as in any sorority or

fraternity. This program is designed to have seniors guide the younger

less experienced college students to succeed in their college careers.

This is a fun way to make friends and build stronger bonds among our

members. I think this is also a great way to keep up with our alumni

and involve them in our activities.


Chapter Goals

Top Three Goals

1. Increase Number of Members

2. Widen our Network

3. Innovate Knowledge


UA Little Rock Beta Alpha Psi & Accounting Society

Statement of Activities

For the Year Ended 4/30/2018

Actual Budget

INFLOWS

Interest Revenue $ 110.46 $ 100.00 Dues received $ 719.59 $ 225.00 CPE event revenue $ 20,625.00 $ 15,600.00 Donations/sponsorships

received $ 2,135.00

Reconciling items (inflows) $ -

Total inflow $ 23,590.05 $ 15,925.00

OUTFLOWS

Meeting/Event Refreshments $ 1,100.23 $ 1,200.00 Meeting/Event Supplies $ 282.12 $ 1,600.00 Meeting/ Event Speaker Fees $ - $ - Activity costs $ 46.51 $ 200.00 Scholarships $ 1,276.90 $ 1,476.90 BAP Dues expenditures $ 1,080.00 $ 850.00 BAP Annual Fee $ - $ 300.00 BAP Conference Registration $ 3,398.69 $ 1,705.00 Travel Expenditures $ 4,800.34 $ 5,695.00 Recruitment expenditures $ - $ 50.00 Administrative expenditures $ 1,634.80 $ - Miscellaneous expenditures $ 315.96

CPE event food $ 3,348.85 $ 2,300.00 CPE event supplies $ 36.53 $ 450.00 CPE event printing $ - $ - CPE event speaker fees $ - $ 250.00 Reconciling items (outflows) $ -

Financials/Budget


Total outflow $ 17,320.93 $ 16,076.90 Net $6,269.12

Account Beginning Balances: $ 24,481.57

Plus: Total Inflows $ 23,590.05

Less: Total Outflows $ 17,320.93

Ending Balances $ 30,750.69

Current Balance Checking

Bank Statement $ 30,570.23

Current Balance BAP Fund $ 180.46

Current Balance Petty Cash

Total $ 30,750.69

DIFFERENCE $ -

UA Little Rock Beta Alpha Psi & Accounting Society

Statement of Financial Position

May 1st, 2017-April 30th, 2018

Assets 2018 2017

Current Assets:

Cash $30,570.23 $24,481.57

Net Assets $30,570.23 $24,481.57

Documents

“Embracing the Opportunity” · 2019-01-30 · “Embracing the Opportunity ... Alexus Clark Christal Kurosaki Dave’Cia Randall Derrick Andrews Kadeja Murray Kristen Shelton