The Accounting Society

Transcription

1 Strategic Organization Plan Fall 2017-Spring 2018 The Accounting Society Author: Anthony Meck (Exiting President) Kevin Wong (Incoming President) - kxw5310@psu.edu

2 Introduction This strategic plan has been developed by the Accounting Society in order to provide a disciplined approach to the management of the Accounting Society over the academic year. Background History The Accounting Club was formed by Professor G. Kenneth Nelson in 1950 at Penn State University. Our organization was formed because Professor Nelson saw a need for students with likeminded accounting interests to have a place where they could further their learning and passion for the profession. Key Changes - Within recent years our organization has undergone the change from Accounting Club to the Accounting Society. - Our organization also made the recent change of implementing a new membership system. In the spring 2014 semester in an effort to differentiate ourselves from a similar organization Beta Alpha Psi the Accounting Society modified our membership requirements and switched to a point based membership system. The current system awards points to members for attending certain events that The Accounting Society sponsors. Last year we added an extra General Body meeting requirement. - Our organization has also instituted an annual banquet for the benefit of students. It is held in tribute of our organizations founder, G. Kenneth Nelson, and aims to celebrate student s accomplishments for the semester as well as allow students the opportunity to network with accounting faculty and professionals. - Our organization has changed our constitution in order for our membership requirements to be easier to follow. Instead of points, we require members to attend a certain number of events (professional, general, and service). Additionally, we added new positions to our board. They include President Intern, Vice President Intern, and Secretary Intern in order to allow younger members to be involved early. Governance From a governance standpoint our organization has adopted a traditional hierarchy. Our Executive Board consists of year long positions and semester long positions. Year Long Positions President - Responsible for organizing events, maintaining relationships with corporate partners, and serving the interests of all members. Vice President - Responsible for recruiting new members and maintaining relationships with firms and professionals Treasurer - Responsible for managing the financial stability of the organization. Semester Long Positions Social Chair - Responsible for planning and executing all social events for the organization. Webmaster - Responsible for maintaining and updating the website for the organization. Workshop Chair - Responsible for creating and presenting workshops at the organizations General Body meetings.

3 Secretary - Responsible for updating the listserv and sending out updates about upcoming events. Director of PR - Responsible for updating all social media outlets for the organization. Volunteer Chair - Responsible for planning, managing, and executing all volunteer efforts the organization is involved in. Thon Chair - Responsible for coordinating THON related events for the organization. President Intern Helps the president with minor tasks. Vice President Intern Assists the Vice President with the banquet and other minor tasks. Secretary Intern Obtains an understanding of the duties of the secretary while helping with minor tasks. Support Our organization primarily functions on its own with little outside support. Our advisor, Charles H. Smith, helps keep the organization on track and facilitates events when needed. He has been an excellent resource to have with his wealth of experience and valuable connections. Past Success Our organization has been on campus at Penn State University for over half a century. In that time we have helped accounting students reach their academic goals and achieve their professional aspirations. One notable success within the past five years includes an increase in our membership numbers. Around our membership numbers were only in the 80 s. This figure was fairly unimpressive given the size of the accounting department and number of accounting majors at Smeal. Within recent years our membership numbers in the fall have skyrocketed. This year we had our 3 rd Annual banquet in honor of Professor G. Kenneth Nelson. This banquet was a great success. It was hosted at the Nittany Lion Inn and was attended by more than 80 people in total including firm professionals (representing the Big Four and regional firms), accounting faculty, and students. Our organization received many complements on the event from firms and our advisor said, This is probably one of the best student run banquets I have attended. Executive Board At this time, the executive board is currently transitioning its officers and an accurate list of officers is not available. In the future if requested, our organization would be happy to provide and up to date list of officers and their information. Our new President is Kevin Wong. Organizational Vision The institution of business is one that is constantly changing, growing, and becoming more complex. In congruence with this concept, education at Penn State is on the forefront of that change and growth. The landscape of the accounting field will be vastly different 3-5 years from now with the multitude of factors converging on it. These macroeconomic factors include: Demographic Shifts, Economic Shifts, Resource Scarcity, Urbanization, and Technological advancement. Our organization needs to recognize these changes and make adjustments and innovations accordingly

4 to prepare our members. The Penn State community as well as the Smeal College of Business is continually expanding and pushing the boundaries of academic success and modern educational techniques and innovations. Our organization needs to maintain its focus on the members it serves while being cognizant of the changes both macro and here at Smeal. In the coming years our organization sees a large emphasis from Penn State University on a continued expectation of academic excellence and a renewed vigor in the institution s pursuit of ethics and integrity. In the Smeal College of Business, we anticipate a large shift of focus to be on this topics as well as the topic of social responsibility and sustainability. The college will look to ensure students understand the impact of their decisions in the scope of the business model as well as the global impact. For our organization to stay ahead of these changes and potentially lead the way, we must be proactive in our efforts. We will have to be more involved in the campus and community to understand these changes. Our organization will have to operate at a higher level and be aware of all the current trends in every environment (The Accounting Industry, PSU, and Smeal). The overall focus of our organization will not change. It is and always will be fundamentally about preparing our members to succeed in the accounting profession. The way in which we prepare them and the necessary preparations may change, but the focus will remain constant and steadfast. Mission Statement The Mission of the Accounting Society is to contribute to our members knowledge and understanding of the accounting discipline; stimulate our members interests in the practicing profession of accounting (broadly defined), including related fields such as finance, Information technology and systems (IT&S) and advisory services; emphasize academic achievement, and address the personal and professional needs of our members by complementing their academic experiences with events, activities and involvements that will contribute to their personal self-development, as well as professional growth and development as they prepare themselves for careers in the accounting field (broadly defined), including related fields such as finance, IT&S and advisory services. The Accounting Society is able to serve as a useful mechanism to attract students to the Smeal College s accounting major through its flexible membership requirements, the numerous informative events and the continuous expansion of our organization. The Accounting Society has a strong commitment to constantly implementing new creative events for its membership, and it continues to develop and to grow through obtaining new members, and by improving membership retention rates. Organizational Values A strong commitment to Institution Students Profession Community As a student organization, the Accounting Society is committed to serving its members with a quality program of events on a consistent basis.

5 As a student organization committed to making a contribution to students preparation for their professional careers, the Accounting Society embraces and promotes the highest of academic and professional values Academic Integrity Professional Integrity Ethical Behavior Intellectual Honesty Social Responsibility Community Responsibility Organizational Goals The goals of the Accounting Society are to contribute to student life and the personal self-development of its members by promoting engagement with, and the building of friendships and the development of camaraderie with other members; promoting and developing professional skills (including interpersonal skills), and ensuring that members develop a good understanding of the accounting and related disciplines, as well as the accounting profession (broadly defined) through: - professional, social and community service opportunities for self- and professional development, - events that enable members to gain insight into the accounting (broadly defined), finance and IT&S disciplines and professions, - opportunities for career planning - professional events that provide the opportunity to interact with recruiters and other professionals in such a way as to gather information regarding internship and full-time job opportunities in the accounting (broadly defined), finance and IT&S fields, and - social interaction with organization members and business professionals, all of which should be accomplished without compromising the Accounting Society s core values. Proposal for Corporate Partnership Student Organization Information: Student Organization Name Primary Contact for Student Organization Primary Contact PSU ID (ex. ABC1234) The Accounting Society Kevin Wong kxw5310@psu.edu Primary Contact Phone Number Event Description: Name of Event Brief Description of Event Amount Requested; Company Name

6 4 th Annual Banquet A banquet to celebrate accomplishments of our members and connect with professionals and Faculty. This event is also focused on networking with professionals. Estimated ~ $2,000.00, Seeking participation from all accounting firms (Big 4, Baker Tilly, and Aronson) Why: Companies greatly value investing in organizations in order to maximize contact with students, visibility of company name/logo, and more. Please provide explanation as to why Company should partner with your event (bullet points are fine): - Access to younger student population as well as a more diverse population (Reaching out to DUS) - Evaluate and begin identifying talent in the younger students - The Banquet gives recruiters a unique opportunity to have a personal conversation with a range of students. - Insight into what our organization has accomplished over the semester - Event to see all of our members in one location