Posts Tagged ‘accounting’

Maharishi University #MaharishiU MBA students finish in top 1% in worldwide business simulation

February 22, 2017

This is the 4th time MUM MBA students finished in the top percentile at Capsim Management Simulations since they began competing in 2011.

Fairfield, IA – A team of MBA accounting students at Maharishi University of Management in Fairfield recently finished in the 99th percentile in an online business simulation that involved 1,136 master’s-degree-level teams worldwide, competing against teams from schools such as Indiana University, Kansas State, Temple, University of Georgia, University of Northern Iowa, Ohio University, and California State.

This is the fourth time MBA students from MUM have finished in the top percentile since they began participating in the simulation in 2011.

Indicates readiness for job markets

Andy Bargerstock

Andrew Bargerstock, PhD, CPA, Director of MBA Programs at Maharishi University of Management

“We had five teams that participated in the simulation for three weeks in January, and as a group they performed better than two-thirds of participating MBA schools,” said Professor Andy Bargerstock, who taught the capstone course that involved participating in the simulation. “As faculty in the business college, we feel that the simulation results demonstrate the readiness of our students for job markets now and ultimately for executive leadership positions.”

The team’s results in this ongoing simulation were confirmed by Brianne Haustein, client relations consultant with Capsim Management Simulations in Chicago, Illinois.

How the simulation works

In the online Capsim simulation, points are earned through well-defined metrics based on the Balanced Scorecard, a concept developed by Robert Kaplan at Harvard University. It recognizes four perspectives for measuring performance: customer, financial, internal business processes, and learning/growth.

The students must manage both short-term and long-term metrics across eight rounds of decision-making, with each round representing one year. This entails using their knowledge of marketing, finance, operations, human resources, accounting, problem-solving, and data analysis.

The teams act as executives who plan strategies and implement tactics across eight years of business activities.

The basis for comparison

While not a real-time competition per se, the ongoing simulation allows MBA teams to compare their performance with all the other teams who have participated in the previous six-month period from the end date of the last round of decisions.

By the time Dr. Bargerstock’s students participate in the simulation, they have taken a variety of courses such as marketing, finance, human resource management, operations management, business law, and lean management. Then they apply everything they’ve learned by participating in the simulation.

“We began participating in the simulation for a couple reasons,” Dr. Bargerstock said. “It’s an excellent exercise for applying everything they’ve learned. But I was also really curious how our students matched up with other MBA students around the world. It’s gratifying to know that they compare favorably and are clearly ready to be high-level professionals.”

Success in the job world

As students leave campus to fill paid practicum positions, and as they have completed their degree and taken positions as alumni, they have shown remarkable success.

  • Ganesh Baniya, CPA, is the manager of financial accounting and reporting for The Washington Post in Washington, DC. He was on a student MBA team that finished in the top 1% in Capsim.
  • Charles Njoya, CPA, is the director of audit and assurance for Community CPA & Associates, Des Moines, IA. He was on a student MBA team that finished in the top 5% in Capsim.

Many of the students take online distance education courses toward becoming Certified Public Accountants or Certified Management Accountants while in the practicum phase of the program, thereby entering the job world as a CPA or CMA.

200 MBA students enrolled at MUM

rahul-kedia-india-sushil-aryal-nepal-and-ankhbayar-sukhmaa-mongoliaThe top team this year included Rahul Kedia (India), Sushil Aryal (Nepal), and Ankhbayar Sukhmaa (Mongolia).

MBA students at Maharishi University of Management come from around the world. Those participating in the simulation are students in the Accounting Professionals Program. They spend eight months on campus taking specialized courses, and then begin their practicum, in which they work as an accountant for up to two years at a U.S. corporation and complete their MBA via distance education.

Approximately 200 students are currently enrolled in various specializations in the MBA program, including those on campus, those in their practicum phase, and those in special-purpose corporate MBA programs.

Accreditations

In addition to being accredited by the Higher Learning Commission, which accredits universities in the Midwestern region of the U.S., the business program at the bachelor’s, master’s and PhD levels at Maharishi University of Management has met the stringent requirements to be accredited by the International Assembly for Collegiate Business Education.

Contributing writer: Jim Karpen

The Fairfield Ledger: MUM finishes business simulation in top percentile

Related

The Role of Business Simulation Competitions in Higher Education

See more news of previous MUM MBA Capsim wins posted here.

Latest (July 2017)

These MBA in Accounting students also won, a 5th time for MUM! Maharishi University MBAs Receive Top Scores in Global Simulation.

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@LauraSimon reports on @MaharishiU Accounting students gaining certification in new worldwide financial reporting standard

January 7, 2014

Accounting students at Maharishi University are gaining certification in new worldwide standard in finance

Posted: 01.06.2014 at 6:39 PM by multi-media journalist Laura Simon reporting for ABC KTVO News on the Heartland Connection.

FAIRFIELD, IOWA — Accounting students at Maharishi University are gaining certification in a new worldwide standard for exchanging financial and accounting information.

Extensible Business Reporting Language, or XBRL is required by the agencies of the U.S. government as well as a growing list of international organizations. Balance sheets and income statements are considered examples of this type of documentation. The professor of the course and director of MUM’s MBA program says an XBRL certification makes students more marketable for the workforce.

“More and more there’s going to be this demand for people to know the technical standard that is required to prepare reports and communicate data to these federal agencies and as a result, we have been beginning to train our students to train for careers possibly in XBRL,” Andy Bargerstock, PhD, said.

The course is one credit hour and is offered two to three times a year based on the demand of students wishing to learn XBRL.

Laura Simon gave us a link to the full unedited XBRL Interview 1 6 14.

The full PRWeb press release sent out with our own video is now posted on the MUM website: MUM Accounting Students First in World to Learn New Reporting System Required by US Government Agencies. Click on this link to view it http://link.mum.edu/xbrl.

Related: @MaharishiU Accounting Prof Andrew Bargerstock prepares students for XBRL certification – Ledger.

Maharishi University of Management’s Ye Shi Named Lean Accounting Student of the Year

October 26, 2013

Maharishi University of Management PhD candidate, Ye Shi (Linlin), was awarded the 2013 Lean Enterprise Institute’s annual Excellence in Lean Accounting Student Award during their Lean Accounting Summit this month in Orlando, Florida. This award continues a pattern of recognition for MUM from LEI: Dr. Andrew Bargerstock was named Lean Accounting Professor of the Year in 2009, and Manjunath Rao was selected as Lean Accounting Student of the Year in 2011 for his PhD dissertation.

Tabitha Dubois (right), LEI's Director of Finance and Administration, gave the Lean Accounting Student Award to MUM’s Ye Shi, and the Lean Accounting Professor Award to WWU's Dr. Audrey Taylor.

Tabitha Dubois (right), LEI’s Director of Finance and Administration, gave the Lean Accounting Student Award to MUM’s Ye Shi, and the Lean Accounting Professor Award to WWU’s Dr. Audrey Taylor.

Fairfield, Iowa (PRWEB) October 25, 2013

By Ken Chawkin

Maharishi University of Management PhD candidate, Ye Shi (Linlin), was awarded the 2013 Lean Enterprise Institute’s annual Excellence in Lean Accounting Student Award during their Lean Accounting Summit this month in Orlando, Florida. The Lean Enterprise Institute (LEI) is a non-profit educational association, which recognizes students who have been actively engaged in research, education, and the development of Lean Accounting and accounting for Lean.

Andrew Bargerstock, PhD, CPA, director of MUM’s MBA programs, had nominated Linlin for this award based on her accomplishments in lean accounting. “We are very happy that Lin Lin’s accomplishments are recognized by one of the biggest names in Lean Accounting, James Huntzinger, in his role as the chair of the Student of the Year selection committee for Lean Enterprise Institute (LEI) and the Lean Accounting Summit.”

Jim Huntzinger

Jim Huntzinger, president and founder of Lean Frontiers

On September 23rd Jim Huntzinger, president and founder of Lean Frontiers, and author of Lean Cost Management: Accounting for Lean by Establishing Flow, notified Linlin of her selection as Lean Accounting Student of the Year. Huntzinger founded the Lean Accounting Summit in 2005, as well as produced many other Lean summits.

As to why she was selected, Jim Huntzinger said, “Linlin was recognized as LEI Lean Accounting Student for 2013 due to her commitment to help others understand and develop a deep understanding of the new paradigm in Lean Accounting. We hope that she will continue to deepen her knowledge of this area and encourage more students and faculty to join the Lean Accounting adventure, and utilize her PhD research to both deepen and further her understanding of lean accounting.”

This award continues a pattern of recognition for MUM from LEI. Dr. Andrew Bargerstock was named Lean Accounting Professor of the Year in 2009, and Manjunath Rao was selected as Lean Accounting Student of the Year in 2011 for his PhD dissertation.

Linlin completed both the MBA in Accounting (2011) and the Post-graduate Certificate in Lean Accounting (2012) at MUM. In September 2013 she began her second year of teaching three of the two-credit courses in the Lean Accounting Certificate program.

In collaboration with Dr. Bargerstock, Linlin has developed case studies to illustrate how to implement kaizen methodologies to improve accounts payable processing. Linlin is currently taking coursework in the PhD program at MUM and expects to begin her dissertation next year.

Linlin is passionate about Lean, which she says is “the great strategic thinking that leads to true sustainable development. Lean accounting is an advanced way of articulating business through present and real financial numbers compared to the historical and sometimes misleading numbers provided by traditional accounting.”

Linlin says Lean enables better communication and employee engagement, and greatly enhances leadership. She adds, “It’s also a great illustration of how to do less and accomplish more, which is a fundamental principle of our university’s educational approach, Consciousness-Based Education.”

Ye Shi (Linlin) with MUM Professor Andrew Bargerstock at the 2013 Lean Accounting Summit

Ye Shi (Linlin) with MUM Professor Andrew Bargerstock at 2013 Lean Accounting Summit

Linlin says she is thrilled and honored to be recognized as the Lean Accounting Student of the year. “I am grateful for the support from MUM, Lean Frontiers, LEI and IMA. I appreciate the guidance and support from Dr. Andrew Bargerstock and other mentors and friends. Without them, any personal development for me would not have been possible.”

The summit offered Linlin, and other participants, the opportunity to meet with elite academic lean professionals and business lean practitioners. “It’s thought provoking to hear the speakers from different fields articulating the Whys and Hows of lean accounting based on their empirical research and practical experience. To be able to talk to them face to face and exchange opinions during the open discussions was fantastic. Also, the Q&A session with the executive team from the renowned Institute and the rest of the speakers provided the practical solutions for any problems people may encounter during lean transformation. It was really exciting to learn the live examples and have the inspiring conversations.”

Included in Linlin’s award was a complimentary registration at the Summit and $500 towards her travel expenses.

Photos of LEI Award Winners are available at garrethoover.com/LEI. Tabitha Dubois (red dress), Director of Finance and Administration for LEI, gave the Excellence in Lean Accounting Student Award to MUM’s Ye Shi, and the Excellence in Lean Accounting Professor Award to Dr. Audrey Taylor, Professor of Accounting at Western Washington University.

Founded in 1971, Maharishi University of Management (MUM) offers Consciousness-Based℠ Education, a traditional academic curriculum enhanced with self-development programs like the Transcendental Meditation® technique. Students are encouraged to follow a more sustainable routine of study, socializing and rest without the typical college burnout. All aspects of campus life nourish the body and mind, including organic vegetarian meals served fresh daily. Located in Fairfield, Iowa, MUM is accredited by The Higher Learning Commission and offers bachelor’s, master’s, and doctoral degrees in the arts, sciences, humanities, and business. Visitors Weekends are held throughout the year. For more information, call the Admissions Office at 800-369-6480 or visit http://www.mum.edu.

Source: PRWeb: MUM’s Ye Shi Named LEI’s 2013 Lean Accounting Student of the Year

In an effort to encourage more faculty to attend the The Lean Accounting Summit, organizers interviewed Andy Bargerstock on Friday, October 18, 2013 in Orlando, FL. He was asked to share what he had learned from previous summits. Of all the interviewees, they selected Andy to go in their LEAF (Lean Education Advancement Foundation) newsletter. You can see both here: A Special Letter to Lean Accounting Summit Participants from the LEAF Board of Directors.

Also posted on AndyB’s Blog: MUM’s Ye Shi Named LEI’s 2013 Lean Accounting Student of the Year

See MUM MBA Students Win at CAPSIM: The Role of Business Simulation Competitions in Higher Education.

See: Maharishi University’s Rao and Bargerstock published in Management Accounting Quarterly.

See Maharishi University MBA Students Win National Business Simulation Competition.


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