Posts Tagged ‘Andrew Bargerstock’

Maharishi University of Management Business Faculty Win National Ethics Case Study Award

April 18, 2014
Maharishi University of Management Wins National Ethics Case Study Award

MUM Professor and Student Duo Win IMA Carl Menconi Ethics Award

Fairfield, IA (PRWEB) April 18, 2014

Tara Barker, from the Institute of Management Accountants (IMA), announced the Best Case Study for the 2014 Carl Menconi Ethics Competition went to a paper co-authored by Dr. Andrew Bargerstock and Ye Shi, faculty members in the Department of Business Administration at Maharishi University of Management (MUM) in Fairfield, Iowa. The article about the case study will be published in the July issue of Strategic Finance, a monthly journal from IMA that focuses on professional practices in management accounting and finance.

The case developed by Bargerstock and Shi spotlights the dilemma of a fictitious Melissa Parks, an XBRL specialist at a company that manufactures large-scale water purification systems that are sold to government and private institutions, primarily in third-world countries. One day on her way to work, Parks hears a radio report about a large multinational corporation receiving a $250 million fine from the Securities & Exchange Commission (SEC) for violations of the Foreign Corrupt Practices Act, a U.S. law that forbids financial payments to foreign officials for the purpose of procuring a business contract. This prompts Parks to recall a conversation she overheard recently at work, which at once makes her suspect that her company also might be engaged in practices that violate the Act. Parks must then decide what to do with her knowledge – perhaps at the risk of her own career advancement.

“The case really looks at the ethical decision an employee must make to ‘do the right thing’ when the easiest, and most convenient, path is to do and say nothing,” explained Bargerstock.

The overall goal of the Menconi Case Competition is to develop teaching cases around ethical issues affecting management accountants and finance professionals. The IMA Statement of Ethical Professional Practice acts as a valuable resource for guiding professional action. Through the Menconi recognized cases, published by the IMA, accounting educators get the opportunity to explore with students, the path to proper action in professional accounting activities.

According to Dr. Bargerstock, Director of MUM’s MBA Programs, “In this post-Enron era, both educators and accounting professionals understand the importance of a heightened level of discussion about when and what to do when they are faced with a moral dilemma. The Menconi case studies series provides a springboard for undergraduate and graduate-level thinking about ethical behaviors for our next generation of accountants. Instructor Shi and I feel fortunate to have contributed to this dialogue.”

This accomplishment continues a pattern of recognition from the IMA for the accounting faculty and Ph.D. students at MUM. In 2009, Dr. Bargerstock was named Excellence in Lean Accounting Professor at the Lean Accounting Summit. In 2011, Manjunath Rao was named Lean Accounting Student of the Year and shortly, thereafter, he received a research grant from the IMA for his PhD dissertation research completed in 2013. Bargerstock and Rao published two articles in the IMA’s quarterly academic journal, Management Accounting Quarterly in 2011 and 2013. In October, 2013, Ye Shi was named IMA’s Lean Accounting Student of the Year for her work in teaching and writing case studies while pursuing her Ph.D. at MUM.

Maharishi University of Management (MUM) in Fairfield, IA is a private university featuring Consciousness-Based℠ Education. The accredited traditional curriculum offers bachelor’s, master’s, and doctoral degrees in the arts, sciences, humanities, and business, but also integrates self-development programs. Innovative aspects include the Transcendental Meditation® program, one course at a time, and organic vegetarian meals. Visitors Weekends are held throughout the year. For more information, call the Admissions Office at 800-369-6480 or visit http://www.mum.edu.

For more information, visit the MUM website: http://www.mum.edu/press-releases#ethics.

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

January 17, 2014

College students learn difficult accounting program
By ANDY HALLMAN | Jan 16, 2014

Maharishi University of Management accounting professor Andrew Bargerstock teaches a class in which students are certified in an accounting program called Extensible Business Reporting Language. M.U.M. is the first college in the world to offer certification in the program as part of its academic curriculum. / Photo by: ANDY HALLMAN

Maharishi University of Management accounting professor Andrew Bargerstock teaches a class in which students are certified in an accounting program called Extensible Business Reporting Language. M.U.M. is the first college in the world to offer certification in the program as part of its academic curriculum. / Photo by: ANDY HALLMAN

Accounting students at Maharishi University of Management are getting a leg up on the competition.

Those students have the opportunity to become certified in a worldwide accounting standard. According to M.U.M. accounting professor Andrew Bargerstock, the university is the first in the world to offer this certification as part of its curriculum.

The standard is called Extensible Business Reporting Language, often referred to simply as XBRL. It is a way of creating an accounting document that allows the information to be easily transferred to government agencies such as the Federal Deposit Insurance Corporation or the Securities and Exchange Commission.

The program requires a high level of computer coding knowledge. Bargerstock said learning how to use the program is no easy task because the students are bombarded with tons of technical computer jargon unfamiliar to most accountants.

“Accountants typically don’t have a lot of training in IT [information technology],” Bargerstock said. “They’ll know how to run ‘Quickbooks’ and ‘Excel,’ but they don’t know anything about the underlying coding. It’s a bit of a challenge. It takes a little bit longer for the water to seep into the sponge – a very dry sponge.”

Bargerstock and 11 of his students have been certified in XBRL, so he knows just how difficult the program is to learn.

“I failed the test the first time I took it, and had to go over it and over it again,” he said.

The certification training is done online and includes instructional audio files. The first time Bargerstock tuned in to one of the audio courses, he reacted by saying to himself, “This is way beyond what I was expecting. There was so much jargon it sounded like a foreign language.”

Learning XBRL is no picnic but once the students complete the necessary training they will stand out from their peers. Recruiting firms have told Bargerstock XBRL certification will put M.U.M.’s students at the top of the pile of résumés when it comes time to look for a job.

“In job interviews, people will say whatever they need to to get the job, and they’ll be a chameleon who changes from day to day,” he said. “This certification shows the students have taken the initiative to learn something.”

The federal government has required businesses and organizations to submit their accounting records in XBRL format since 2011. Bargerstock said the advantage of XBRL is the numbers only have to be entered in the original accounting document and not in every report created from that document. When it comes time to create the reports for the various government agencies, each agency extracts from the document whatever it needs to create its own report.

In the past, accountants would have to tediously fill out reports for each government agency. Now, those reports are created automatically by the computer thanks to the way the information is coded.

Bargerstock introduced his students to XBRL certification last fall. Although he helped the students with their certification, they trained for the certification on their own outside of class and did not receive academic credit. Another group of six students began taking a class with Bargerstock in November in which they were receiving academic credit while obtaining XBRL certification. Those students will finish their class in February.

Reprinted with permission from The Fairfield Ledger. The article was on the front page of Thursday’s Ledger, five columns across the middle of the page, with a photo.

Added point of clarification from Andy Bargerstock: “The certification training does not teach the technical side (tagging) of XBRL. XBRL certification training is the first step towards competency. If any of our certified students get hired, they will need 2-3 months of intensive training in the technical aspects of XBRL.”

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

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Andy Bargerstock reveals a costly disconnect in Lean companies not completely walking their talk

November 12, 2013

Standard Costing Very Costly, New Research Shows

Lean Accounting expert, Andrew Bargerstock, PhD, CPA, Director of Maharishi University’s MBA Programs, will present new research findings that show for the first time, empirical evidence of the waste inherent in Lean manufacturing companies that still use a standard costing accounting model. His talk, “The failure of standard accounting systems in Lean companies,” will be presented this week at the local chapter of the Institute for Management Accounting (IMA) during their Fall Conference in Cedar Rapids, Iowa.

Fairfield, Iowa (PRWEB) November 12, 2013

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

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

Lean Accounting expert, Andrew Bargerstock, PhD, CPA, Director of Maharishi University’s MBA Programs, will present new research findings that show for the first time, empirical evidence of the waste inherent in Lean manufacturing companies that still use a standard costing accounting model. Lean management principles are based on the generic elements of organizational development from companies like the Toyota Motor Corporation who build long-term customer loyalty while streamlining operational processes.

Dr. Bargerstock says, “Many mature lean manufacturers continue to use standard costing when it is no longer useful. This wasteful practice costs companies millions of dollars.” Professor Bargerstock will present his findings this Thursday, November 14 at 1pm, at the regional chapter of the Institute for Management Accounting (IMA) during their Fall Conference in the Double Tree Hotel in Cedar Rapids, IA. His presentation will include a summary of the research study and a model of a three-tiered system of organizational performance metrics that drive lean innovations.

“Companies are still attached to standard costing because it is the staple of business schools emulating General Motors operational controls from the 1950s. Lean offers a new model for operational controls. Our research is the first to show that mature Lean companies who still use standard costing accounting systems are leaving money on the table.” Professor Bargerstock says.

Lean manufacturing is a sustainable, cost-saving, adaptive and highly efficient manufacturing management process originated by Toyota Motor Company in the 1980’s, and since adopted worldwide by hundreds, even thousands of manufacturers. The Lean strategy can be applied to any type of organization profit or non-profit.

Wasted money, lost profits, weaker earnings

The new research, done at Maharishi University of Management, a 4-year Iowa college of arts and sciences that integrates practice of the Transcendental Meditation® technique into its curriculum, shows that many companies using Lean manufacturing processes are not discarding standard costing, and as a result, are missing significant additional savings, losing profits and weakening the bottom line. “Companies using Lean manufacturing, but not using Lean Accounting are losing money by clinging to an antiquated costing model.” Dr Bargerstock says.

This is the first empirical study to test a prediction made by many Lean Accounting theorists, that mature lean manufacturing enterprises will discard standard costing systems. Anecdotal evidence suggested that companies may be holding onto standard costing, but no empirical study has verified the observed behavior.

Manjunath Rao, PhD and Andrew Bargerstock, PhD

Rao and Bargerstock

In 2011 and 2013, Bargerstock and one of his PhD students, Manjunath Rao, published articles in the Management Accounting Quarterly on the research conducted at MUM. The article published in Summer 2013 MAQ is entitled, “Do Lean Implementation Initiatives Have Adequate Accounting Support?”

Dr. Bargerstock was the chair of Rao’s dissertation committee. Lean accounting experts and academics at the Institute for Management Accounting collaborated on the research. The article describes the analysis of some of the data gathered during Rao’s dissertation research. The study found that in a sample of mature lean manufacturing companies, lean accounting implementation lags behind lean operations implementation, which may give rise to inadequate accounting support in lean initiatives.

A former Fortune 500 executive and national consultant for federal and state governmental agencies and private corporations, Dr. Bargerstock was selected as the 2009 Excellence in Lean Accounting Professor by the Lean Enterprise Institute (LEI), one of the leading non-profit associations dedicated to the education and promotion of Lean Management in the country. LEI, along with the co-sponsorship of the IMA, have also recognized two of Prof. Bargerstock’s PhD students during the last three years as Lean Accounting Student of the Year.

See a short video of Dr. Bargerstock outlining the main points for his talk to the IMA, and an additional segment on the success of MUM students in the MBA Lean Accounting Program.

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.

PRWeb: http://www.prweb.com/releases/Lean/IMA/prweb11309348.htm or bit.ly/19Z629I

Posted on: Virtual-Strategy Magazine and other top news outlets.

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.

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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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Maharishi University places 4 winning MBA teams in top 10 at international CAPSIM competition

August 9, 2012

M.U.M. Students Excellent In CAPSIM Competition
by Johnny Mangano
Published on Aug 9, 2012 by KTVOtv

FAIRFIELD, IA — Four MBA teams from the Maharishi University of Management placed in the top 10 of the international CAPSIM Foundation simulation.

The simulation tests MBA students acumen in areas such as sales forecasting, inventory management, operations management,  human resources, finance, and quality management.

M.U.M. competed with other schools across the continent including Villanova and Drexel even though enrollment at the school is just around 1,000 students.

The competition is spread out over a six month period and is very rigorous.

Dr. Andrew Bargerstock, Director of MBA Programs at M.U.M. led the students in this endeavor.

In the past three years, M.U.M. has placed teams in the top ten of the competition with a team actually placing first last year.

When asked whether he values that or this year with four teams placing in the top ten, Dr. Bargerstock preferred the latter because it speaks to how deep and knowledgable his MBA students are.

The simulation is scored on a Balanced Scorecard concept which measures both short and long term growth across four perspectives: financial, customer, internal business processes, and learning and growth.

The four teams were named Chester, Digby, Baldwin, and Andrews.

The Chester team placed in the 97th percentile and included Enkhbat Byambaakhuu, Laxman Bhandari, Visakha Ly, Phirada Khuon, and Nan Cao.

The Digby team was in the 95th percentile and included Seka Ellepo, Njei Akuro, Gurmu Negeri, and Eshetu Debru.

The Baldwin team finished in the 93rd percentile with team members Xiaoxu Chen, Zhou Jiang, Yue Pan, Daina Zhang, and Bo Wu.

The Andrews team placed in the 90th percentile with Eliana Freeman, Mokhlis Awad, Joseph Marquez, and Mila Zhang.

For more information on MUM’s Accounting MBA program visit: http://www.mum.edu/accounting-mba.

Also listen to the KMCD August 9 MUM Spotlight Show with Andy Bargerstock, MUM Professor and Director of MBA programs, as he discusses the significance of the CAPSIM simulation within the Accounting MBA program at MUM and how it prepares his students to compete and win against other top universities in North America.

See the MUM Blog: Four MBA Teams Place in International Competition and Dr. Andrew Bargerstock’s blog: MUM’s Four MBA CAPSIM Teams All Finish in Top 10.

Also see last year’s winning teams, one taking first place: Maharishi University MBA Students Win National Business Simulation Competition and Students Place 1st in National Business Simulation and MBA Students Win National Business Competition and this video: CAPSIM winners: MBA teams at Maharishi University of Management.

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