TheAccounting Major

While 99 percent of all Monmouth graduates

surveyed gain employment or further their

education within six months of graduation,

accounting students regularly exceed that

average. Of the seniors who graduated in

2012, approximately 60 percent chose to

attend graduate school. Many graduates

immediately begin careers in public

accounting firms, industry, government, or

non-profit entities such as governmental,

academic or charitable institutions.

Accountants are in demand across the globe, and accounting tends to thrive in

economic downtimes. Most MC accounting majors find employment in the career of

their choice before graduation.

A Valuable, Versatile Major.

Traci Brackett Toohill ’00, cia, cfe, crmaAudit Manager IIArcher Daniels Midland Company

Kim Baumruck Kaminski ’02Senior Account AnalystCapital Group

Nathan Gaskill ’04, CPAPartnerLauterbach & Amen, llp

Jennifer Heiman ’04, cpaTax ManagerDeloitte Tax, llp

Matthew Clair ’05Financial AnalystDeere & Company

Molly Pendergrass-Brennan ’05, cpaAudit ManagerPricewaterhouseCoopers, LLP

Maria Tirado Mahad ’07Lead Tax PlannerGE Capital Americas

Julie Trac ’07Staff Accountant II, Cost/Decision SupportCaterpillar Inc.

John Kaiser ’10Analyst, Higher Education GroupHuron Consulting Group

Kayla Winbigler Jones ’11Passed CPA exam in 2013Staff AccountantBaker Tilly Virchow Krause, llp

Chelsey Widdop ’13Graduate Student in AccountingSouthern Illinois University-EdwardsvilleAccepted future position at McGladrey, llp

Some Recent Monmouth Accounting Graduates

1989 accounting graduate Jackie Zachmeyer’s career with Deere & Co. has taken her around the world, with positions in Germany, Canada and the U.S. She is currently a finance director based at the global manufacturer’s world headquarters.

Accounting education develops critical thinking and communication skills,

the ability to use quantitative and qualitative information in decision-making,

and the theoretical accounting foundation necessary for success.

Why Study Accounting at Monmouth?

Accounting is continually changing at a fast pace in response to po-litical, social, economic and global factors. Monmouth College’s account-ing program is designed to develop skilled problem solvers with a solid

foundation in accounting. The program focuses on critical thinking and written and verbal communication skills. Through a distinct curriculum structure, MC accounting students experience a learning environment that is competitive, but

collegial and mutually supporting, thus pushing each student to maxi-mize his or her potential to the fullest. Students build friendships

that support them throughout their personal lives and careers.

The Department of Accounting is housed in the newly constructed $40 million Center for Science and Business. The innovative facility is designed to encourage collaboration between the scientific disciplines and the business disciplines—a learning atmosphere that Monmouth College believes will help prepare graduates for the challenges of a rapidly changing global economy.

Center for Science and Business

The Department of Accounting uses a wide variety of teaching methods to bring the student excitedly into the learning process. Students engage in many hands-on projects in their introductory labs in the first two introduc-

tory courses. At the appropriate points in the learning process, they use such technology as electronic spreadsheets, a general ledger package, professional ac-counting databases, or REA modeling.

Can you imagine using the Monopoly game to learn about financial accounting concepts and statements? Or marshmal-lows and bamboo sticks to learn about costing concepts and gross margin? Active learning is used at all levels in the

accounting curriculum. Since the accounting discipline depends on the effective communication of financial information, all courses provide opportunities for developing this important skill, from writing case analyses and research papers to practicing verbal communication in debates and presentations.

Active Learning

Accounting LiteratureResourcesAccounting students have access to professional databases that they will also use in their future careers. These include searchable databases of the FASB Codification, the AICPA Professional Standards, and the tax code and regulations (RIA Checkpoint).

AdvisingStudents work closely with a professor in their major in order to reach their individual goals and be ready for life after graduation, whether it is continued study to sit for the CPA exam, graduate school or entry into the workforce. If students are considering sitting for the CPA exam, close advising is critical to ensure that students will have acquired the necessary course credits, through additional coursework at MC, summer work or graduate study.

The Monmouth College Department of Accounting has been recognized by the Internal Revenue

Service for outstanding service in volunteer tax preparation through the VITA program.

Summer Opportunitiesfor Intellectual Activities

Many accounting students gain practical experi-ence as trained volunteers for the IRS’s Volun-teer Income Tax Assistance (VITA) program.

The Volunteer Income Tax (VITA) program is an academic credit-bearing course that provides an opportunity for citizenship, greater understanding of community needs, and the satisfaction of helping others. Offered each spring during the tax season, the program has a two-fold purpose: service and education

for the community, and citizenship and education for the student. Students study basic income taxes in a workshop setting and become certified by the Internal Revenue Service. Students prepare and e-file state and federal tax returns for citizens of the community in an active environment using a commercial software product. Although not required, most junior and senior accounting majors participate in the program each spring.

Designed for learning beyond the traditional classroom, SOFIA (Summer Opportunities for Intellectual

Activities) is an innovative three-week summer program held prior to the beginning of the school year that allows select incoming students to conduct in-depth research and inquiry with faculty and upper-level returning students.

Service Learning: IRS Tax Preparation

Off-Campus Study The department has created a roadmap that allows for off-campus study while graduating within four years, by attending a college abroad for a semester or performing a semester-long business internship. Students interested in this opportunity should visit early with their adviser to plan their courses over the four years around this activity.

Opportunities for LeadershipAccounting students who have exhibited a strong grasp of accounting or tax concepts can enhance their mentoring skills by serving as VITA student coordinators, financial or managerial lab assistants, tutors or Accounting Society officers. VITA student coordinators have the opportunity to attend a tax workshop in Springfield, Ill., help the professors present tax materials and train new VITA volunteers. Lab assistants guide students in active learning assignments, while tutors mentor students in evening sessions.

Accounting Advantages

The Center for Science and BusinessMonmouth’s newest academic building houses the Department of Accounting on its second floor. The spacious facilities include a room specifically designed for the accounting curriculum, which is dedicated to the active learning methods of the department. Four computer stations include ClickShare technology, which allows student groups to effectively collaborate. Eight nearby break-out rooms, each with a computer station and seating for six individuals, serve a variety of purposes, including tax preparation for the VITA program. In addition to brightly-lit classrooms, there is also a waiting area, an interview room and a 32-station computer lab.

Preparation, Proficiency and Accreditationonmouth offers the courses necessary for the student to sit for the certified public accountant (CPA) exam, and the accounting curriculum includes the specific requirements in ethics, research

and analysis, and business writing. The various courses integrate interna-tional financial reporting standards (IFRS) in the curriculum as the United States moves to join the globe in a set of international standards. The Master Field Test (MFT) in Business is administered to accounting seniors in the spring. It tests mastery in the core content areas viewed as important for success in a business-related career. Since the year 2000 when the MFT was first administered at MC, the average score each year placed the program in the top 25 percent in the country. In the years 2004, 2006 and 2010, the average class score placed the program among the top 5 percent in the country. Over the past decade, 14 individual students placed among the top 5 percent of the country.

“The FARS [financial accounting reporting standards] work that I had done at Monmouth really helped [in graduate study] because I knew what to look for and how to communicate it completely.”

“I entered into the business field because I knew that so much of science is impacted by business and vice versa, that I could continue to make a difference in this way. Account-ing is all about researching, calculating and presenting business information in an intel-ligible fashion, either internally or externally. It’s every bit as interesting as chemistry—what’s not to love?”

“I thought I would need to learn a plethora of formulas and facts. There’s been some of that, of course, but when I became a junior, there were fewer quizzes and tests, and my performance in class was based more on my ability to figure things out. I’m confident that whatever job I take, I’ll learn faster, thanks to the education I’ve received.”

Dan asbell ’13Financial AnalystState Farm InsuranceBloomington, Ill.

MollyPenDergrass-brennan ’04 CPAAudit ManagerPricewaterhouseCoopers Chicago, Ill.

sara Wenzel ’10CPAStaff AccountantMize Houser & Co., PALawrence, Kansas

Graduates Speak

The Accounting FacultyFrank Gersich, professor of accounting, joined the faculty in 1998, having previously taught for 19 years at a variety of educational institutions. He wears a number of hats, serving also as an associate dean of the college, a peer reviewer for the Higher Learning Commission, and a CPA examination writer. He teaches upper-level financial accounting courses and the major’s capstone course. He is adept at implementing team-based learning concepts and is immersed in studying

student learning. His courses are highly interactive, focusing on problem-solving and interpersonal skills. As associate dean, his focus is on the college assessment program, supervision of the Teaching and Learning Center, faculty development, and student retention programs. A certified public accountant, he earned his doc-torate in education from Northern Illinois University.

Judy Peterson, professor and chair of the accounting depart-ment, has been teaching at Monmouth College since 1998. An alumna of the international CPA firm Ernst and Young, she has also worked at Jockey International and First Tennes-see Bank, and taught 10 previous years at the college level. She is the longtime coordinator of the college’s very successful Volunteer Tax Assistance (VITA) program, in which students assist community citizens in the preparation and e-filing of

their income tax returns. Teaching in the financial accounting discipline of the major, she uses simulations and active learning strategies to develop student’s critical thinking. She earned her MBA from the University of Minnesota-Mankato and is a certified public accountant.

Connie Mersch, assistant professor of accounting, has been teaching at Monmouth College since 2011. She brings to MC a wealth of industry experience in the tax field from the pharmaceutical company, GlaxoSmithKline, and the telecom-munication company, Nortel Networks Corporation. She is also an alumna of Ernst and Young international CPA firm. Her teaching is mainly focused in the tax and management accounting fields. She has a passion for the use of group

“hands-on projects” and mini-cases to teach accounting concepts. Mersch is also involved as a reviewer in the college’s VITA program. She holds an MPA from the University of Texas-Arlington and is a certified public accountant.

Michael Connell, professor and chair of the political economy and commerce department, joined the MC faculty in 1992. The holder of both a doctorate in economics and a J.D. from the Univer-sity of Illinois, he previously taught at Lafayette College. Legal environment of business and introduction to com-merce are his two principal courses that support the accounting curriculum. He developed and teaches a seminar in en-trepreneurism, featuring guest lecturers discussing their experiences in starting and operating business ventures.

Thomas Prince, executive in residence in the department of political economy and commerce, has 35 years of private-sector experience, serving as advertising man-ager for Publix Supermarkets, director of marketing for Gatehouse Media, and president and CEO of Envision Boats, Inc. He has been teaching marketing, ad-vertising and management courses since 2009. His academic interests focus on the influence of technology on manage-ment and marketing decisions.

Ken McMillan, Pattee professor of politi-cal economy and commerce, joined the faculty in 1989. His varied résumé includes positons as chief speechwriter for the U.S. Secretary of Agriculture, an Illinois state senator, a candidate for U.S. Congress, executive director of information for the Illinois Farm Bureau, corporate secretary for the Country Companies Insurance Group, and vice president of the National Suffolk Sheep Association. He supports the accounting curriculum in the economics discipline, teaching such courses as intro-ductory economic principles, international trade and finance, economics of govern-ment and taxation, comparative economic systems, and civic leadership. He holds an M.S. in agricultural economics and public policy from the University of Illinois.

Richard Johnston, associate professor of political economy and commerce, earned his MBA from Lehigh University. He taught for 13 years before coming to Mon-mouth College in 1995. He also worked at the securities firm of Kidder Peabody before joining the college. The recipient of numer-ous teaching awards, he provides support to the accounting curriculum through teach-ing finance and economics.

Faculty Who Support the Accounting Curriculum

Faculty Supporting the Accounting Curriculum

Terrance Gabel, associate professor of political economy and commerce, teaches business capstone courses, international marketing, and the entrepreneurism course with Professor Connell. He has 13 years of teaching and extensive experi-ence in the marketing industry, having held sales positions, served as product manager for a large banking firm and as marketing director for a heavy indus-trial international trade services firm. His articles have appeared in marketing journals and he is the author of numer-ous consumer culture theory poetry. He holds a Ph.D. from the University of Memphis.

Wendine Bolon, associate professor of political economy of commerce, has been teaching at MC since 2007. The holder of a Ph.D. in economics from the University of Utah, she provides broad support to the accounting curriculum in teaching business mathematics and statistics. Other highly quantitative courses she teaches are: econometrics, intermediate price theory, intermediate macroeconomics, labor economics and urban economics.

Julie Rothbardt, visiting assistant professor of political economy and commerce, began teaching at MC in 2012. She earned her doctor of business administration from St. Ambrose University, and holds a certificate as a senior professional in human resources. She provides support to the accounting cur-riculum through teaching Business Problem Solving and Principles of Marketing. She has held human relations positions at Deere & Co. and MRA, a management position at Case New Holland, and a process and environmental engineer position at Lafarge, a global leader in cement manufacturing.

Lee Miller, visiting assistant professor of political economy and commerce, be-gan teaching at Monmouth College in 2010. He earned his MBA from Western Carolina University, his MS in engineering from Virginia Commonwealth University, and is currently working towards his DBA. He previously taught management and entrepreneurship in Thailand at Bangkok University’s entrepreneurship program. Prior to that he started two manufacturing companies, both of which he developed and sold to larger firms. He teaches courses in entrepreneurship and international management.

Faculty Supporting the Accounting Curriculum

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