ANNUAL ECONOMIC UPDATE

Transcription

1 Chapter Website Link February 2008 FEBRUARY 20 th CHAPTER MEETING ANNUAL ECONOMIC UPDATE Wednesday, February 20 th 5:00 PM Damon s Restaurant Four Points Sheridan, Saginaw (Near I-75) Also Non-Profit Accounting by Philip Kintzele (7:30) Our Chapter continues its tradition of excellence in providing members up-to-date tools for success during our February 20 th Annual Economic Update. February s speaker, Jonathan M. Gardey, CFA, CFP, is a graduate of the University of Wisconsin and earned a Master of Business Administration degree in Finance and in Money & Financial Markets from Columbia University, New York City. He is a Chartered Financial Analyst (CFA) and a Certified Financial Planner (CFP). He has been employed by Gardey Financial Advisors since 1993 and currently serves as Executive Vice President, Director of Research, and Chair of the firm s Investment Committee. Mr. Gardey has participated in the work of the CFA Institute and in the analysis and evaluation of commercial real estate programs. He is also authorized to provide financial and investment advice by The National Football League Players Association to its members. Don t miss this opportunity to catch up on the latest economic trends from a real expert in the field AND earn an hour of Continuing Professional Education! 5:00 p.m. Networking 5:30 p.m. Key Note Speaker Jonathan Gardey, CFA, CFP (1 CPE) 6:30 p.m. Dinner ($20 members/guests) 7:30 p.m. Non-profit Accounting by Philip Kintzele, CPA (1 CPE) RSVP by Monday, February 18, to Jennifer Rezler at Carbone of America; Phone: ; Fax: ; jennifer.rezler@carbonelorraine.com

2 PRESIDENT S LETTER FOR WINTER 2008 KISS - KEEP IT SIMPLE In reviewing last year s letters and trying to think of what I might say that will motivate you or help you with whatever you need in your career, I thought of KISS. So I decided to do what I practiced in business and what I teach my managerial accounting students today, i.e., keep your message, analysis, presentation, etc. simple. So here it is from the heart: COME SAY HELLO! Please join us at our next meeting (Feb 20 th -see page 1) so we can wish all our friends and members the happiest and healthiest New Year ever! (plus earn 2 CPEs). And don t forget our April Meeting. April 16 th, Wednesday Place: Northwood University, Midland Campus, NADA Building Time: 5:00 p.m.-discussion on Managerial Accounting Tools of Tomorrow (1 CPE) 6:00 p.m. Networking 6:30 p.m. Dinner $20. RSVP: Jennifer Rezler at (989) , or to:jennifer.rezler@carbonelorraine.com 7:30 p.m. Speaker History of Accounting, by Walker Fesmire (1 CPE) followed by CMA and accounting student of the year awards. See you on February 20 th, Julie Goldman, President IMA Saginaw Valley Chapter jagnow@charter.net

3 NEED CPEs? YOU CAN GET 30 CREDITS IN 2008 THROUGH IMA HERE S HOW: 8 CPEs - Attend all 4 meetings of the Saginaw Valley IMA chapter. Dates and times are on the website and each meeting provides 2 CPEs. Next meeting February 20 th. 4 CPEs - Attend the special Saginaw Valley Ethics Presentation on March 26 th Wednesday, 8:00 A.M.-Noon. Qualifies for 4 CPEs of ethics credit for CMAs and 4 regular credits for CPAs (check your state regulations to see if it qualifies for ethics). Location: Means Industries just east of I-75. Register: jagnow@charter.net Julie Goldman or call CPEs - Attend the annual Michigan Council Seminar on October 29 th, Wednesday at the Kellogg Center, Michigan State University in E. Lansing. 12 CPEs - From your computer, sign into IMA s Webinar: Inside Talk. Offered on a monthly basis. See website for more details. Offered free but only to IMA members. All of this for less than $200 just by being a member of IMA National and the Saginaw Valley local chapter. Questions? Call Julie Goldman, President, SVIMA Chapter or jagnow@charter.net.

4 ETHICS IT S NOT ABOUT KNOWING WHAT IS RIGHT OR WRONG IT S ABOUT WHAT YOU SHOULD DO OVERVIEW: Learn the overarching principles of the IMA Statement of Ethical Professional Practice. The course details the history of Ethics at IMA and the development of the Statement of Ethical Professional Practice. Each principle listed on the Statement is reviewed and the importance of maintaining good ethical behavior when documenting information, communicating information, and making recommendations is emphasized. The Standards of Credibility, Confidentiality, Competence and Integrity guide users through a DVD video case study of a real-life ethical dilemma. WHEN: MARCH 26, 2008 TIME: PREREGISTRATION: jagnow@charter.net OR call (Julie Goldman) REGISTRATION: 7:30 A.M. - 7:50 A.M. (coffee and donuts provided) SEMINAR: 8:00 A.M. - NOON WHERE: COST: Mean s Industries Corporate Headquarters 3715 E. Washington Road; Saginaw Just east of I-75 on north side of Washington, exit 151, highway 81 $20 members pre-registered $30 non-members pre-registered $40 registration at door CPE: A certificate will be given to each participant at the end of the seminar. CMAs will receive 4 CPEs that will satisfy your ethics requirement (requirement = 2 CPEs). The credits will be submitted to IMA for you. CPAs can count this as 4 general credits in all 50 states. Some states, e.g. Texas, differ as to whether you can use this specifically as ethics. Contact your state board for a proper ruling if using for ethics.

5 CALLING ALL VOLUNTEERS We need new board members for next year s board of directors. The descriptions of the responsibilities can be found in the chapter manual on the IMA Website (you have to log into the site as a member). sign in choose members only chapter operations chapter forms chapter manuals/chapter operations manual see pages 7-27 for description of all offices Please don t let the descriptions scare you. They are a little daunting, but because we are small, we have simplified the requirements of the offices SIGNIFICANTLY. PLEASE CONSIDER VOLUNTEERING FOR ONE OF OUR POSITIONS WE NEED YOUR HELP! President - leading the group Treasurer - money and reports (taken) Secretary - oversee production of newsletter with contract personnel Team leader of administration - communication to members Team leader of education - includes getting speakers & making reservations Team leader of membership - contacting new and terminated members Website - maintains local website Please call me or me jagnow@charter.net with interest in any position or helping in an area. All help is welcome! Julie Goldman jagnow@charter.net

6 EMPLOYMENT NEWS As a service to our chapter members, Employment Director Adeline Wicker will keep your current resume on file and send you updates of employment opportunities as soon as they become available. If you re interested in more information, please contact Adeline at amwicker@saginawpowertraininc.com. We ve received information about ELEVEN (11) positions with the following descriptions. For more information and immediate consideration, please send your resume directly to Stephanie Rosenbaum at stephanie.rosenbaum@roberthalf.com.you can also access these descriptions on our website Title: Tax Accounting Analyst REQUIREMENTS: The individual to move into the role as Tax Accounting Analyst will be a CPA, ideally with some experience with Income, Sales & Use Tax and VAT. Title: FAS133 (Derivatives) Analyst Position REQUIREMENTS: The ideal candidate to move into the role of Derivatives Analyst will be a CPA with some corporate accounting experience dealing with FAS 133. Title: Fixed Asset Accounting REQUIREMENTS: The ideal candidate to move into the role will have 3 or more years of experience in corporate accounting handling fixed asset accounting. A working knowledge of SAP is preferable. Achievement of the CPA designation is an asset, but not required. Title: Financial Reporting Officer THE ROLE: Our client requires a Financial Reporting Officer with the ability to examine, analyze and interpret financial data as it relates to business performance and strategic

7 objectives. Preparation of financial and management reports will be a key responsibility, and this position bears primary responsibility for the client s expense reporting. This is a tremendous opportunity to gain experience with a leading company in the manufacturing sector. REQUIREMENTS: The ideal candidate to move into the role of Financial Reporting Officer will have successfully completed a degree in Accounting and ideally will have attained the status of CPA. The candidate will have some experience in financial reporting (external). Some experience dealing with reporting to lenders would be viewed favourably. Title: Financial Analyst Discounted Cash Flow Modeling Ideal Start Date: January 28, 2008 THE ROLE: Our client requires a Financial Analyst with the ability to examine, analyze and interpret financial data as it relates to business performance and strategic objectives. Preparation of financial and management reports will be a key responsibility, and this position bears primary responsibility for the client s expense reporting. This is a tremendous opportunity to gain experience with a leading company in the manufacturing sector. In this Financial Analyst position, you will conduct financial modeling on various financial products as well as measure, analyze and forecast performance in conjunction with operating plans. Additional duties include advising management on the allocation of resources to best accomplish objectives and preparing reports for management. REQUIREMENTS: The ideal candidate to move into the role of Financial Analyst will have successfully completed a finance degree - a BBA or MBA preferred - and will have some background in Discounted Cash Flow Modeling (e.g. NPV, IRR, etc) as well as product costing. Advanced proficiency with Excel as well as excellent analytical, communication and presentation skills are required. Working knowledge of accounting practices and principles used in large organizations is a plus. Strong analytical skills are absolutely essential to this role, as well as a solid knowledge of financial reporting, budgeting and forecasting. Title: Financial Plant Analyst (Some Manufacturing Experience Preferred) Ideal Start Date: January 28, 2008 THE ROLE: Our client, a large manufacturer in the Genessee County, Michigan area has an immediate need to add a Financial Plant Analyst to its accounting and finance team. The Financial Plant Analyst will have the ability to examine, analyze and interpret financial data as it relates to business performance and strategic objectives. The individual to assume the role of Financial Plant Analyst will be located within the four walls of the plant based in Saginaw and will be responsible for working directly with the Plant Manager to develop forecasts and budgets as well as to track financial performance of the plant. All functions related to month-end closing will also be required. Preparation of financial and management reports will be a key responsibility,

8 and this position bears primary responsibility for the client s expense reporting. This is a tremendous opportunity to gain experience with a leading company in the manufacturing sector. REQUIREMENTS: Success-driven Financial Analyst candidates with 3+ years experience and previous experience dealing with accounting / finance in a manufacturing setting are ideal. Qualified applicants will have a Bachelor s degree in Accounting, Finance or Economics. Advanced proficiency with Excel as well as excellent analytical, communication and presentation skills are required. Working knowledge of accounting practices and principles used in large organizations is a plus. Strong analytical skills are absolutely essential to this role, as well as a solid knowledge of financial reporting, budgeting and forecasting. CPA / MBA preferred. Title: Manager, Income Tax Accounting Salary Scale: THE ROLE: Our client, a large manufacturer located in Genessee County, Michigan has an immediate need to add a Manager, Income Tax Accounting to its growing accounting and finance divisions. The newly added Manager, Income Tax Accounting will ensure the monthly and quarterly accounting process is occurring as required by the FAS 109 team (i.e. journal entries, account analysis, account reconciliations, preparation of memos). The Manager, Income Tax Accounting oversees the analysis of FAS 109 accounting for non-us units and provides training to non-us units to ensure compliance with FAS 109. Additionally, the Manager, Income Tax Accounting oversees the ongoing implementation of income tax accounting tools for non-us units and assists in reporting data on behalf of these units to Head Office. Further focus is given to the assessment of internal controls for the purpose of compliance with Sarbanes-Oxley Section 404. REQUIREMENTS: The individual to move forward into the pivotal role of Manager, Income Tax Accounting will have 5 or more years of income tax accounting (FAS 109) experience in both public accounting and industry. The individual will have extensive experience with FAS 109 both domestically and overseas and will have experience with accounting research including the ability to evaluate technical accounting literature and communicate requirements to business units and senior management. Excellent communication skills are a must including sound written report and presentation skills. The individual will have successfully attained the status of CPA and will have completed a Bachelor's Degree in Accounting (a Master Degree is highly desired). Title: Chief Tax Officer Salary Scale: THE ROLE: Our client, a large manufacturer located in Genessee County, Michigan has an immediate need to hire a Chief Tax Officer to assist in leading its rapidly expanding tax department. Stepping into this high profile, pivotal role, the newly added Chief Tax Officer will be expected to develop and implement the global tax department / team and to maintain tax efficient structures both domestically and internationally while achieving

9 administrative efficiency and operational fluidness. It is the role of the Chief Tax Officer to ensure proper accounting and external financial reporting as well as to establish and update tax planning models and to lead all tax related analysis of business activities, structures and commercial transactions including identifying and evaluating alternatives and making recommendations to senior management. This high profile role is required to review and monitor tax changes ruled in both domestic and foreign legislation and regulations and must prepare and file federal, state and local income tax returns, sales and use tax returns as well as property tax returns. REQUIREMENTS: The individual to move forward into the pivotal role of Chief Tax Officer will bring forward 15 or more years of experience within tax function of a substantial, publicly held US corporation as well as significant international tax experience. The ability to plan, organize and direct complex tax programs in addition to setting up accounting systems, interpreting laws and regulations and applying advanced accounting theory is paramount. The individual to move into this role will be highly organized, resourceful and precise with meticulous attention to details, results and deadlines. Exceptional communication skills supported by strong interpersonal and leadership skills are a must. Equally important, the individual must demonstrate a superior level of technical skills. A Bachelor's Degree in Accounting (or related field) is assumed, while a CPA, law degree or MBA is highly desired. Title: International Tax Manager Salary Scale: THE ROLE: Our client, a large manufacturer located in Genessee County, Michigan has an immediate need to add an International Tax Manager to its rapidly expanding tax accounting division. The newly added International Tax Manager will be challenged with undertaking significant compliance and planning activity to support the company's domestic tax and international transactions. A specific mandate of the role will be to support compliance activities meant to address foreign and domestic tax transactions and to support any ongoing federal income tax audits and resolutions. Additional aspects of the role will incorporate preparing and filing international tax returns and determining earnings and profits of foreign affiliates and joint ventures. REQUIREMENTS: The individual to move into the role International Tax Manager will have 2 or more years of experience in taxation with direct international tax experience. A solid understanding of and experience in US GAAP is a must in addition to an ability to plan, organize and directly complex tax programs and to set up accounting systems, interpret laws and regulations and apply advanced accounting theory. Excellent communication skills and strong interpersonal and leadership skills are required. The individual to move into this role will be highly organized, resourceful and precise with meticulous attention to details, results and deadlines. Equally important, the individual must demonstrate a superior level of technical skills. A Bachelor's Degree in Accounting (or related field) is assumed, while a CPA, law degree or MBA is highly desired. Experience with CORPTax is preferred.

10 Title: Domestic Tax Manager Salary Scale: THE ROLE: Our client, a large manufacturer located in Genessee County, Michigan has an immediate need to add a Domestic Tax Manager to its rapidly expanding tax accounting division. As the newly added Domestic Tax Manager, the individual to move into this highly integral role will be challenged with ensuring that the company is in compliance with all tax related requirements including income, payroll, sales and use tax as well as VAT in all states and countries. The Domestic Tax Manager is also expected to research and provide guidance on all tax related matters as they arise and is in charge of the completion of schedules for corporate tax returns. Focus of the Domestic Tax Manager is also dedicated to managing, supervising and assisting in the preparation of all income tax return workbooks and reports and to ensuring compliance with FAS 109. To further facilitate, the Domestic Tax Manager will develop and implement systems to comply with the requirements of Sarbanes Oxley internal control procedures and will research consequences of the company's operations and its impact on tax laws and rulings. REQUIREMENTS: The individual to move into the role International Tax Manager will have 2 or more years of experience in taxation with direct international tax experience. A solid understanding of and experience in US GAAP is a must in addition to an ability to plan, organize and directly complex tax programs and to set up accounting systems, interpret laws and regulations and apply advanced accounting theory. Excellent communication skills and strong interpersonal and leadership skills are required. The individual to move into this role will be highly organized, resourceful and precise with meticulous attention to details, results and deadlines. Equally important, the individual must demonstrate a superior level of technical skills. A Bachelor's Degree in Accounting (or related field) is assumed, while a CPA, law degree or MBA is highly desired. Experience with CORPTax is preferred. Cost Accountant Danaher Motion Thomson Saginaw has a job opportunity in our Finance Department. The successful candidate will be responsible for the cost accounting functions in the Saginaw, MI facility. Duties include plant based forecasting, standard setting, variance analysis, inventory controls, cost/pricing analysis, and developing cost allocations. Requirements include a Bachelor s Degree in Accounting, Finance or Business, strong analytical, presentation and interpersonal skills, ability to work independently with a strong sense of urgency and creativity, excellent organizational skills, ability to meet tight deadlines in a fast-paced multi-project environment, and strong systems and data management skills. Proficiency in Excel, SAP and Oracle, as well as accounting experience in a manufacturing environment are highly desirable. Please your detailed resume, including salary requirement, to Jobapplicant@danahermotion.com EOE m/f/d/v