Bill Douglas A - Terry - University of Georgia

SP
R I NG
2006
VO
ALUMNUS SPOTLIGHT
Bill Douglas
I am pleased to report that the
Tull School’s programs continue to
receive high national marks. In the latest
Public Accounting Report the undergraduate accounting and
MAcc programs ranked
12th and 13th, respectively, improving on
the 2004 rankings of
15th and 18th, respectively. The Public
Accounting Report also
BEN AYERS ranked the top 25
accounting PhD programs for the first
time. The Tull School’s PhD program
reported in with a 22nd national ranking.
These outstanding results reflect the
high quality of students admitted to the
Tull School as well as the efforts of our
faculty and staff.
In my fall letter, I wrote that the Tull
School would be adding some new faces
in the coming year. I am pleased to
report that Amanda Farmer (formerly
Amanda Geiger) joined the faculty this
January. Amanda earned her BBA in
1998 and MAcc degree in 1999 from the
Tull School. Since graduation, Amanda
has worked as a CPA for Thomas W.
Scott & Associates and more recently
has been self-employed providing
continued on page 4
Tull Grad News• p. 2
A
fter receiving his degree from the
J.M. Tull School of Accounting in
1983, Bill joined the Atlanta office
of Ernst & Whinney. It’s not uncommon for
Tull graduates to head to Atlanta to begin
their career. However, Bill’s path took a few
unusual turns and he found himself living
and working throughout
Scandinavia, Russia, and
Europe. This international
life began when Douglas
joined The Coca-Cola
Company: North American
Finance Division.
Coca-Cola is arguably
the most recognized brand
in the world, but the way
the product reaches the
lips of almost a billion people every day is a mystery
to most. The Coca-Cola
Company owns the trademark and creates advertising for some 200 countries around the
world. The bottling system, however, is
where most of the action is. Douglas’ 20 year
career in the Coke system has been almost
evenly split between working for The CocaCola Company and various bottling entities.
In 1989, he was offered a short-term
assignment in Madrid, Spain. After his 6
months in Spain, Douglas was bitten by the
“International Bug” and returned to Atlanta
to work in corporate finance with a focus on
the European operations. In 1991, he was
appointed the Division Finance Manager for
the Nordic countries. Bill, wife Lisa and their
children: Will then age 21/2 and Ella 9
months, packed up and moved to Oslo,
Norway.
The Oslo office was considered a smooth
and uncomplicated posting, but that changed
Faculty Activities • p. 5
L U M E
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1
when the Nordic Division was given the
responsibility to start up operations in the
countries of the former Soviet Union.
Douglas worked on the team that negotiated the entry and building of bottling facilities in Russia, Ukraine, and the Baltic States.
These are now some of the most promising
markets in the worldwide Coke operations.
On the personal side, the family became
cross-country skiers, attended the 1994
Winter Olympics in Lillehammer, Norway and
enjoyed many hours in the outdoor life, which
is so much a part of
Norwegian culture.
Douglas
also
was
involved with the restructuring of Coke’s European
bottling operations. In
1998 he and his family
relocated to London and
joined Coca-Cola Bottling
(CCB). Neville Isdell, current Chairman and CEO of
The Coca-Cola Company,
led the team at CCB that
initially was responsible for
the Coke bottling operations in 13 central and eastern European countries. The company was
listed on the London stock exchange in July
of 1998. In 2000, CCB merged with a sister
European bottling company to double in
size and form Coca-Cola Hellenic Bottling
Company. Douglas was appointed CFO of
the merged entity in February 2000. HBC
operates in 25 countries in Europe and
Nigeria. It is the largest Coke bottling operation outside of the US and is widely recognized as the best performing bottler over the
past five years.The role at HBC and the subsequent move to Athens, Greece provided
many challenges and opportunities both
professionally and personally. Listing HBC
on the New York stock exchange was a highlight of this period. Bill and son Will took a
continued on page 3
Professor Basu • p. 6
J . M .
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News About Tull Graduates
N
ow that the CPA exam is computerized and can be taken throughout the year, it’s harder to keep
track of successful candidates. However,
we’ve heard that recent graduates Alex
Alferov, Susan Dowdy, and Tony Pritchett
passed all four parts on their first attempt.
Please let us know if you did the same and
we’ll report you in our next newsletter.
Congratulations to Emmanuel AmpofoTuffuor (MA-Econ ’90, MAcc ’92) who
recently was admitted to the partnership at
KPMG in New York City.
From Long Island, NY, David Bergman
(MAcc ’99) tells us that he has joined Kimco
Realty Corporation as a Senior Accountant.
Kimco is a real estate investment trust that is
the largest publicly traded owner and operator of neighborhood and community shopping centers. David will be working on the
accounting for acquisition and disposition of
properties.
Marsh & McLennan Companies Inc.
announced recently that M. Michele Burns
(BBA ’ 79, MAcc ’80) will join MMC on
March 1, 2006, as Executive Vice President
and will become Chief Financial Officer no
later than March 31. MMC is a global professional services firm with annual revenues
exceeding $12 billion. It is based in New
York City.
Shaoming Cheng (LLM ’98, MAcc ’03,
PhD Political Science ’05) is now a first-year
student at the University of Texas Law
School in Austin.
Bill Comey (BBA ’87, MAcc ’90) is
Managing Principal for the Tax and Business
Services division of H&R Block, located in
Duluth, GA. Bill is a specialist for small businesses and mass affluent individuals. He has
been a CPA since 1992, starting his career
with Arthur Andersen. Bill is married and has
two gorgeous children, Cadey age 3 and
William IV (Liam) age 2. Bill’s wife, Kate, is a
Liberty University graduate who is a professional speaker and corporate trainer, specializing in women’s issues and conflict within the
workplace. The family resides in East Cobb.
Author! Author! We can now say that
about Angela Dotson (BBA ’98, MAcc ’99)
whose article on “Nonprofit Accountability”
was published in the October 2005 issue of
Smart Business Atlanta. Angela is a Manager
in the tax department for Tauber & Balser
PC. Her experience includes corporate, per2 • Tull School Update
sonal and partnership taxation with an
expertise in real estate and not-for-profit
organizations.
David Fligel (BBA ’79, MAcc ’80) joined
Garan Incorporated as CFO in 2005. Garan
is owned by Berkshire Hathaway (whose
CEO is the famous investor Warren Buffett)
and is involved in apparel manufacture.
David reports that Dr. Earl Davis (emeritus
professor) would be very proud to know
that three of his former students are now
CFO’s of Berkshire Hathaway companies,
including himself, Ken Jackson (BBA ’79,
MAcc ’80), and Brad Goodson (MAcc ’83).
The Coles College of Business at
Kennesaw State University named Dana R.
Hermanson (BBA ’86) the Dinos Eminent
Scholar Chair of Private Enterprise. Dana
plans to use his new position to expand his
research on corporate governance, risk management, and forensic accounting.
Eddie Holland (MAcc ’04) is working
with Ed K. Burton, LLC CPAs in Toccoa.
He reports that he has completed the CPA
exam and that his UGA degree is serving
him very well in the “real world.” Eddie also
mentioned that he married his high school
sweetheart Misty shortly after graduation.
Reporting from London, England, Anita
Jones (BBA and MAcc ’01) tells us that she
was recently promoted to Manager in Ernst
& Young’s Investment Management Group
in Audit. Anita transferred to E&Y’s
London office in the summer of 2004 after
three years in Atlanta.
Seung Hwan Kang (BBA ’02) married
Katie Richie in August. He is working with
Moore Colson in Atlanta.
Shelby Kazaean (BBA and MAcc ’02)
reports that in December she started working
for KPMG in Chicago in their transaction
services department, the accounting advisory
group. “It’s a perfect role for me...I’ll specialize in helping auditors, companies, and
iBankers apply accounting guidance, and I’ll
get to ‘teach’ them how the rules fit into
their situations.” After finishing at UGA,
Shelby spent a year as a postgraduate intern
at the Financial Accounting Standards Board,
so she should be able to apply her FASB
experience in her new position.
William Kirk (BSED ‘93, MAcc ‘01)
reports that he recently was married in
Hilton Head, SC, to Ashley Dolan. “Ashley
attended Emory University for her under-
grad degree and Western Michigan
University for her Master’s degree in athletic training. Ashley works in sports medicine
as an athletic trainer and a physician extender for the University Orthopedic Clinic.
She is one of those people that runs out on
the field when someone gets hurt at a game
and then assists with the surgeries to repair
the injury. We now live in Decatur, GA. I
work for Deloitte Tax, LLP as a tax senior in
the Lead Tax Services group.”
John McMullan (BBA ’58, MBA ’60) is
CEO of Camden Real Estate Co., which he
founded in 1990. He also serves as director
of Life Care Centers of America Inc. Previous
CEO positions McMullan has held include
SMS Investment Associates Inc. and
McMullan & Company CPAs. During the
1960s, McMullan was an assistant professor
of tax and accounting theory at Georgia State
University and the University of South
Florida, as well as a senior accountant at Price
Waterhouse. He is a trustee of the new UGA
Arch Foundation and an emeritus trustee of
The University of Georgia Foundation. He’s
also a past president of the Touchdown Club
of Atlanta. An Athens native, McMullan is
married to the former Marilyn Jane Memory
of Waycross. They have four grown children,
all of whom live in Atlanta.
Dr. Perry G. Moore (PhD ’93) reports that
he was promoted to Professor of Accounting
at Lipscomb University (Nashville, TN) in
mid-2005. He also serves as the District 3
Representative for the Institute of Internal
Auditors’ Mid-Atlantic Region.
After a couple of years with Ernst &
Young in Atlanta, Seth Muriset (BBA and
MAcc ‘02) has decided to enter the PhD
program in accounting at the University of
Illinois. That program has been ranked for
many years as one of the top accounting
PhD programs so it is a real feather in Seth’s
cap to be admitted.
On October 20, the University held a
dedication ceremony for John W. Rooker
Hall. Rooker Hall is the southernmost of the
four new East Village residence halls that
opened in fall 2004. More than 1,200 students reside in the complex’s apartmentstyle accommodations. John W. (Jack)
Rooker is a 1960 graduate of the
Accounting School. A long-time supporter
continued on next page
Spring 2006
J . M .
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Bill Douglas
continued from page 1
sailing course and the whole family enjoyed
exploring the Greek islands during weekends
and holidays.
During the summer of 2003 Douglas’ family returned to Georgia to allow his children to
attend high school in the US. Douglas commuted for a year from Athens, Greece, to
Athens, Georgia, where his family had settled.
He returned to the states in July of 2004 joining Coca-Cola Enterprises, the largest Coke
bottler with operations covering the U.S.,
Canada and 5 western European countries.
In addition to his current role as CFO of
Coca-Cola Enterprises, Bill serves on the
boards of the Coca-Cola Scholars
Foundation
and
Johnston
Legacy
Scholarships. Both organizations provide
scholarships for young adults pursuing higher education. Bill also serves on the J.M. Tull
School of Accounting Advisory Board and
the Terry College of Business Campaign
Steering Committee.
Reflecting on the time abroad, the family
enjoyed travel experiences and the obvious
cultural exchanges over subjects as innocent
as food and sports to the more difficult ones
such as faith and politics. These experiences
alter you and your views on the world. So
not surprisingly, the return to Georgia was a
bit of a challenge too. After more than a
decade spent in Europe, the family realized
that though their passports declared them
Americans, they were a little “different.”
The teenagers took a crash course in pop
culture and realized they had gaps in their
education regarding American history. Lisa
had to align her driving habits with the more
cautious and law abiding Georgians
Tull Graduates
continued from previous page
of UGA, he is former chair of The UGA
Foundation and was instrumental in formation of The UGA Real Estate Foundation.
Now working for Thigpen & Lanier in
Statesboro, GA, is Perry Rountree (BBA
’99, MAcc ’01).
After a brief retirement, John Seymour
(BBA ‘85) has joined Atlanta Habitat for
Humanity as Director of Finance and
Administration. In this role he is responsible
for the fiscal functions, administrative
aspects, and information technology for the
second largest U.S. affiliate of Habitat for
Humanity. The Atlanta operation has built
over 825 houses in the area over the past 22
years. John Jr. is currently enrolled in the
Tull School’s MAcc program.
BellSouth announced that as of January
1, 2006, Pat Shannon (BBA ‘85) is the
company’s new Chief Financial Officer. He
joined BellSouth in 1997 as Controller and
was most recently Senior Vice President of
Finance. Earlier in his career, Pat worked for
several years for Arthur Andersen.
Congratulations, Pat, on becoming CFO of
one of Georgia’s leading corporations!
Home Depot announced recently that Fay
Ann (Norris) Sherris (BBA and MAcc ‘02)
has moved from the internal audit department to become an Analyst in its Investors
Relations department. In that new role, Fay
Ann will research financial information, interSpring 2006
pret financial statements, provide financial
information for Home Depot’s website, and
field calls from investors. She also proudly
reports completion of the company’s “Six
Sigma green belt” training program.
Jason Tester (BBA ’98, MAcc ‘99)
reports that he is currently working for CIT
Healthcare, having accepted a position in
the institution’s Leveraged Finance Group
(along with two colleagues from BNP
Paribas, his previous employer of two years).
“We focus on financing middle-market,
investor-owned, healthcare services businesses. It’s been both challenging and great
fun — I’ve gotten to finance several leveraged buyouts over the past couple years.
Prior to this experience, I attended Emory
University’s Goizueta Business School and
received an MBA with an emphasis on
finance. On the personal side, I got married
almost three years ago, and we (Anna and I)
are expecting our first in three weeks — very
exciting, as lots of changes abound.”
Recently admitted to the partnership at
Mauldin & Jenkins LLC is Alison
(Nysewander) Wester (BBA ’96). An even
bigger event was the birth of her first child,
Sarabeth Margaret Wester, on September
28. Alison and her husband Buzz (a 1999
graduate of Franklin College at UGA) are
already planning Sarabeth’s Bulldawg
future! ■
(compared to the passionately chaotic Greek
drivers). Everyone had to re-learn
“Southern speak” and that “how are you?”
simply means “hello.”
Living and working in Europe was a great
experience and yet, through it all, Bill cherished his roots in Georgia and especially his
ties to UGA. He remained an avid Bulldog
football fan, listening to games over the
Internet (sometimes in the middle of his
night) and returning in the autumn for at
least one home game a year. One of the
highlights for him and Lisa was hosting
Loran and Myrna Smith for dinner in
Norway. He and his family are delighted to
be back in Georgia near family, friends, and
UGA.
We, too, are glad that Bill is back in
Georgia and very involved in the Tull
School. Since his return, Bill has played a key
leadership role in the Tull School Advisory
Board. Among other items, he helped establish the Ricky Rice Graduate Fellowship to
honor the life and memory of Ricky Rice, a
Tull School graduate and former employee
of The Coca-Cola Company. Commenting
on Bill’s service, Tull Director Ben Ayers
states, “Bill’s commitment to excellence permeates everything he does. We are quite fortunate to have someone with Bill’s experience and passion for excellence as an advisor
and advocate for the Tull School.” ■
ONLINE?
Then drop by
terry.uga.edu/accounting/
for the latest Tull
School news
and information!
Tull School Update • 3
J . M .
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Accounting Student “Leads the Band”
I
f you watched Georgia’s famous
Redcoat Marching Band at the Sugar
Bowl or any other time in the past two
and a half years, you must have seen Tull
junior accounting student Hope Carrell.
Hope is the Feature Twirler for the Band, so
she’s out front helping build excitement for
the football games.
Similar to most of the outstanding players
on the football team, Hope was actually
recruited to Georgia because of her twirling
prowess. She grew up in Marion, Illinois,
and has been a star baton twirler since early
childhood. In 2004 she was recognized as
Grand National Collegiate Twirling
Champion in competition held at Notre
Dame University. In 2005 she won the
National Two Baton Championship and
qualified to represent the USA at the World
Championships in Holland in April 2006.
Hope must have been born with an
“accounting gene” as she started keeping
detailed records of her money at about age
ten. She created her own personal budget
with certain percentages allocated to giving
to church, savings for college, and current
spending. This early start in accounting continued during junior high when she was
elected treasurer of her choir. Over $25,000
cash went through her hands as she kept
track of hundreds of students’ accounts.
This was quite a responsibility for a twelve
year old!
In high school, she was a sales clerk in a
Christian bookstore. Hope used a spreadsheet to analyze stock and sales of the most
popular CDs. This led to an explanation of
the music department’s recent poor performance. It was through this realization
and compilation of information that the
bookstore was able to better stock what consumers wanted.
In addition to her baton twirling appearances, Hope has been teaching others for
many years. During summers she travels all
over the country teaching at baton camps and
clinics, as well as giving private lessons. Like a
true accountant, she compares the fees she
will receive to the travel and other costs to
make sure that the net amount she realizes
per hour of effort is worthwhile. Hope also
has worked for Student Notes at Baxter Street
Bookstore since enrolling at UGA, taking
detailed notes for each class she attends and
transferring the notes to the Bookstore’s
computer for copyrighted distribution.
Her outstanding performance with
twirling is matched by her superb record in
the classroom. Hope was valedictorian of her
high school graduating class and has continued that record with a perfect 4.0 grade
point average thus far at Georgia. Upon
completion of Professor Linda Bamber’s
management accounting course this fall,
Linda remarked, “Hope is one of the most
highly-motivated and talented students I’ve
had the pleasure to work with in 26 years of
teaching. Despite a demanding practice
Director’s Message
continued from page 1
business consulting and tax services for
clients in the Athens area. Amanda will be
teaching introductory managerial accounting courses for the Tull School. She has
excellent work experience and a strong
academic background. We are excited to
welcome Amanda back to the Tull School.
As discussed in the enclosed article
“Advisor y Board Members Lead Fund
Raising Effort,” we have initiated a fundraising campaign to (1) provide faculty
research suppor t for Assistant and
Associate professors who are expected to
be the future leaders of the School, (2) provide fellowships for graduate students who
teach undergraduate classes and assist
faculty with research, and (3) complete the
funding for the Earl Davis Chair in Taxation.
4 • Tull School Update
Each of these initiatives is vital for the longterm success of the Tull School and our programs. There is strength in numbers, and
the Tull School is fortunate to have produced a large number of alumni that have
been very successful in their careers and
take great pride in their Tull School education as a single, double or even triple
“dawg.” We are requesting that each Tull
School alum make a five-year pledge to support this campaign (see the form elsewhere
in this newsletter). If you have already
made a pledge to the Tull School, we greatly appreciate your support and investment
in the Tull School. If you have not yet been
contacted and are able to support the
School, we would welcome your participation in the campaign. ■
Hope Carrell poses with one of her many baton
twirling awards. Carrell, a junior accounting
student, has lead the Redcoats as a Feature
Twirler for more than 2 years.
schedule and heavy travel for away games
during the fall semester, Hope posted the
highest average of all the students in both
sections! This accomplishment is a testament
to her work ethic and her ability.”
Hope is enrolled in the UGA Honors
Program, is a Presidential Scholar, and has
received
Ramsey
Honors,
Courts
International, Robert C. Byrd Honors, and
Elks National Foundation Scholarships while
at Georgia. And, of course, she is a member
of Beta Alpha Psi, the accounting honorary
organization.
Hope also participates in a national co-ed
honor fraternity. She was recently elected
treasurer of that organization. While she was
in Japan last summer for the UGA Globis
Study Abroad Program, some problems
arose in the fraternity’s finances. The
accounting records she inherited were a
mess so she “audited” the last few years of
transactions to reconstruct what actually
happened and where the fraternity now
stands. Rather than complaining about this
challenge, Hope notes that “I couldn’t have
asked for a better opportunity to practice the
accounting skills I’ve developed at UGA.”
This young lady may be leading bands at
present but she seems destined to lead some
fortunate business organization in the nottoo-distant future. ■
Spring 2006
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Ben Ayers and wife Marilyn welcomed their new daughter
Georgia Campbell Ayers to the world at 8:13 p.m. on September
6, 2005. With a first name like that, it looks like Ben is making a
long-term commitment to UGA! Ben’s paper with John Jiang (PhD
‘05) and Eric Yeung, “Discretionary Accruals and Earnings
Management: An Analysis of Pseudo Earnings Targets,” was
recently accepted for publication in the May 2006 issue of The
Accounting Review.
Linda Bamber made two presentations in the fall. One was on
“Getting your research published,” at Brigham Young
University (along with Mike
Bamber). The other was at
the Contemporary Accounting
Research conference at
Niagara on the Lake where
she was discussant for a paper on “Mandatory Audit Partner
Rotation, Audit Quality, and Market Perception: Evidence from
Taiwan,” by Wuchun Chi, Huichi Huang, Yichun Liao, and Hong
Xie. Linda and Mike also presented their paper “Using 10-K
Reports Brings Management Accounting to Life!” at the AAA
Management Accounting Section Mid-Year Meeting in Tampa in
January. Finally, Mark Dawkins, Neil Bhattacharya, and Linda’s
paper “Systematic Share Price Fluctuations and the Investors
Who Drive Them” has been accepted by the Journal of Financial
and Quantitative Analysis.
In addition to the joint presentations with Linda Bamber above,
Mike Bamber spoke at the Accounting, Behavior and
Organizations Section of the AAA Conference in Atlanta in
October on “Publishing your research.”
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The October 2005 Centennial edition of the Journal of
Accountancy included Denny Beresford’s article, “Take a Seat in
the Boardroom.” Denny also spoke at several conferences and
other meetings including: Vanderbilt University Directors College
(Nashville), National Association of Corporate Directors Annual
Corporate Governance Conference (Washington, DC), Georgia
State University Financial Accounting Conference (Atlanta), Terry
College CFO Roundtable (Atlanta), KPMG Audit Committee
Roundtable (New York), and Financial Executives International
Current Financial Reporting
Issues conference (New York).
The Journal of Business
Ethics has published Tina
Carpenter’s
paper
on
“Unethical and Fraudulent
Financial Reporting: Applying
the Theory of Planned Behavior” (co-author J. Reimers).
Jackie Hammersley’s paper titled “Pattern Identification and
Industry-Specialist Auditors” was accepted for publication in The
Accounting Review. In October she presented a paper titled “Market
Reactions to the Disclosure of Internal Control Weaknesses and to
the Characteristics of those Weaknesses under Section 302 of the
Sarbanes Oxley Act of 2002” at Texas A&M University.
During the Christmas break, Eric Yeung was married in Hong
Kong. His wife, Jing, completed her doctoral training in Statistics
at UGA and will join the Statistical Analysis and Forecasting
Department at IBM T.J. Waston Research Center as research
staff. Their unadorned wedding was on December 28th and followed ordinary Chinese style. After the wedding, Eric and Jing traveled to Beijing and entertained the rest of Jing’s family there. ■
FACULTY
A C T I V I T I E S
Advisory Board Members Lead Fund Raising Effort
T
he School of Accounting’s Advisory
Board meets regularly with the
School’s Director to provide ideas
on how we can best achieve our objectives
and contribute to Terry College’s overall
strategic plan. Over the past few years this
has included discussions on curriculum revisions, assisting new professors with research
data, greater use of practitioners in classroom presentations, maximizing the effectiveness of our graduate placement activities,
and many other matters. In short, Board
members represent a very effective “bridge
to the accounting profession” that helps
assure that our program is as relevant as possible to those who hire our graduates.
In the past few meetings, Board discussions have focused largely on fund raising.
This is because state funding for higher education has declined significantly over the past
decade. In 1996, the state funded approximately 44 percent of the University’s budget, while today it is only about 32 percent.
While the Terry College and Tull School
Spring 2006
have been efficient in addressing the effects
of this reduction, the decline in state funding
hinders the School’s ability to attract and
retain high quality faculty, which ultimately
threatens the quality of our programs.
In a September 2005 Board meeting,
members unanimously supported a fund
raising campaign to support the following:
• Faculty research support for up to
eight Assistant and Associate
Professors who are expected to be the
future leaders of the School.
• Fellowships for graduate students
who teach undergraduate classes and
assist faculty with research.
• Completion of funding for the Earl
Davis Chair in Taxation, which will be
used to continue the School’s
traditionally strong tax program.
Board members agreed to take the lead in
soliciting pledges from UGA graduates
presently working at their accounting firms
and corporations. While many of you reading this newsletter will already have been
contacted by a Board member, a form is
included elsewhere in this issue to allow you
to join fellow graduates and friends of the
School in helping maintain and improve the
Tull School. One of our greatest “assets”
is the large number of alumni who have
benefited from their educational experience
at the Tull School and are either leaders
or emerging leaders in the profession. We
know that all of you care deeply about preserving and enhancing our School, and we
greatly appreciate any financial support you
can provide.
Current members of the Tull Advisory
Board are: Tim Bentsen (KPMG), Pam
Blackburn (Deloitte), Bill Douglas (CocaCola Enterprises), Ken Jackson (Shaw
Industries), Tim Keadle (Porter Keadle
Moore),
Dexter
Manning
(Grant
Thornton), Dwight Mathews (Deloitte),
Keith Ruth (PricewaterhouseCoopers), John
Schraudenbach (Ernst & Young), Charles
Schulze (Elliott Davis), and Gerry Shirk
(Georgia Pacific). ■
Tull School Update • 5
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FACULTY SPOTLIGHT
PROGYAN BASU
“Friends Do Not Let Friends Do
Accounting Without T-accounts”
What is it like to teach Accounting
Principles to a class of 300 students? You can
ask Progyan Basu, who teaches the Principles
of Accounting I course at UGA. He typically
teaches 3 sections every
semester, with an average
enrollment of 250-300
students each. He says his
biggest challenge is to
relate to students, while
not knowing them on an
individual basis. “When I
walk into my classroom the
first day of the semester, all
I see is a large group of
students, who have virtually no background in
accounting – and most of
them have heard horror stories about how
difficult and confusing accounting is.” He
says his goal in this class is to make his students understand that accounting is not an
abstract science – it affects real companies
and real people who work for them.
Basu readily admits that the first accounting course can be intimidating to many students, simply because they have never seen
such financial terms as ‘bad debts’ or ‘unrealized losses.’ Accounting is not unlike learning a new language – it takes a lot of time and
effort to become familiar with its peculiar
terms and concepts. Basu is known for using
study aids to help students remember the
concepts. For example the mnemonic DEAD
COLR stands for: Use Debits to increase
Expenses, Assets and Dividends, and use
Credits to increase Owners’ Equity,
Liabilities and Revenues. He reminds all his
students
to
think
of
Orange
(Auburn/Tennessee) or Purple (LSU) as the
color that UGA fans would not be caught
dead wearing. To stress the importance of
6 • Tull School Update
A C C O U N T I N G
—
T E R R Y
using t-accounts for Principles students, he
uses his favorite quote “Friends do not let
friends do accounting without t-accounts”.
Teaching Accounting Principles can be
frustrating, but it also is highly rewarding for
Basu. He says, “When an upper level
accounting student comes and tells me that I
motivated him/her to become an accounting
major, it is truly gratifying.” It is really
rewarding for him to see students make the
transition from knowing almost nothing
about the subject to the point where they can
make some sense of real financial statements.
He knows that most of his
students do not pursue
accounting as their career,
but his goal is to provide
them a good level of familiarity with the basics of
financial statements. He
hopes that most students
realize the importance of
understanding accounting,
particularly in light of the
recent accounting scandals.
In most universities, the
Principles of Accounting
course is infamous for its difficulty, and UGA
is no exception. “This is mainly because we
introduce terms and concepts that most students have never seen before,” according to
Basu. Also, doing well in accounting
requires a serious and consistent time commitment. Although we are not sure, we think
the person who coined the phrase “no pain,
no gain” was an accounting student.
Basu grew up in Calcutta, India, and studied Industrial Engineering as an undergraduate at Jadavpur University in Calcutta. With
his degree in Engineering he went to work
for a large manufacturing company in
Bombay, but soon left to pursue an MBA in
the U.S. He received his MBA at the
University of Missouri in Kansas City. “In my
first semester of my MBA program, I took
the core accounting course, and accounting
to me seemed very logical, and just made a
lot of sense.” As a result, he chose to take
more accounting courses, and later majored
in accounting.
While pursuing his MBA, he had an
C O L L E G E
O F
B U S I N E S S
opportunity to work as a Teaching Assistant
(teaching Accounting Principles), which was
a life-changing experience for him. “I simply
fell in love with teaching – I felt I was making such a difference in the lives of students.”
After his MBA, he wanted to pursue a fulltime career in teaching accounting, and
joined the accounting PhD program at the
University of Nebraska in Lincoln. With his
PhD in Accounting, he accepted a position at
Boston College and later moved to Howard
University. “I have been teaching accounting
for over 20 years now, but I never get tired of
it – every semester I get new students, and
they recharge me.” He says he absolutely
enjoys interacting with individual students.
“When I sit down with a student, and am
able to explain a difficult concept, and I see
the bulb light up – that just makes my day.”
Most of our students are very bright, and
hardworking, and Basu says it is a pleasure to
work with such high quality students.
Basu joined the Tull School of Accounting
in Fall of 2001. Asked what brought him to
Georgia, he replies, “I got tired of living in
big cities – the traffic and crime takes a toll
on the quality of life. And I have always
wanted to live in a college town, particularly
one with good sports teams.” Other than
accounting, sports are Basu’s passion. An
ESPN addict, he follows all spectator sports,
particularly at the college level. In addition
to the American sports, he also keeps track of
international sports like soccer (the ‘real’
football) and cricket. After four years in
Athens, he has become a converted UGA
football fan, and loves attending UGA home
games. ■
Who’s Who
Two seniors majoring in accounting were
among 15 Terr y College students
recently recognized in the 2005-06 edition of Who’s Who in American Colleges
and Universities. They are Laura Byars
and Shavonne McGuirt. Congratulations
to Laura and Shavonne for receiving this
outstanding recognition!
■
Spring 2006
J . M .
T U L L
S C H O O L
O F
A C C O U N T I N G
—
T E R R Y
C O L L E G E
O F
B U S I N E S S
What’s News With You?
What are you doing and what’s “news” with you? Please take a few moments to fill in this form and return to us so
we can keep your classmates informed of your activities. If you wish, please attach a separate sheet with more information. Or you can email: phoyt@terry.uga.edu.
(Note to married female graduates, please be sure to include your maiden name!)
Name:
Mailing Address:
City:
State:
Zip:
Email:
Degree(s):
Graduation year(s):
Currently Employed at:
My News:
Spring 2006
Tull School Update • 7
J . M .
T U L L
S C H O O L
O F
A C C O U N T I N G
—
J. M. TULL SCHOOL
T E R R Y
OF
C O L L E G E
O F
B U S I N E S S
ACCOUNTING
HONOR ROLL
The J. M. Tull School of Accounting is proud to recognize and thank the alumni, friends, and organizations who contributed to our
success in 2004. Every effort has been made to assure the accuracy of this Honor Roll.
$50,000 and up
R. Steve Tumlin Jr.
Greg and Donna Voynich
William W. Douglas III
and Lisa L. Douglas
Mr. Robert Joseph Dumas Jr. and
Mrs. Rene Melvin Dumas
$25,000 - $49,999
Ernst & Young Foundation
Wayne H. Pace and Roberta Pace
Mr. and Mrs. S. Scott Voynich
$2,500 to $4,999
William Thomas Walton
Jeffrey Martin Anderson
and Lee Odom Anderson
$1,500 to $2,499
Mr. and Mrs. James William Barge
Mark Wages Bittick
Donnie B. Blackburn
Charles P. Butler Jr.
and Pamela L. Blackburn
Coca-Cola Enterprises
Mr. and Mrs. Maxwell E. Blocker
ExxonMobil Foundation
John J. Culhane
Jon Milton Glazman
$10,000 to $24,999
Deloitte Foundation
M. Brantley Barrow
Carl Willard Duyck
Mr. and Mrs. H. Fletcher Homer III
Charles McLendon Fiveash
Timothy Allen Keadle
and Sharon B. Barrow
Denny and Marian Beresford
and Lang Culbreth Fiveash
and Marsha Jay Glazman
and Kathryn Thomas Keadle
Coca-Cola Company
Sidney M. Gay and Patricia L. Gay
Patrick John Kim
Dixon Hughes, PLLC
Brad and Amy C. Goodson
Porter Keadle Moore LLP
KPMG Foundation
Carey L. Gordon
David G. Schlitt
William C. Lankford Jr.
Habif, Arogeti & Wynne LLP
and Ann Courtney Lankford
Mike and Susie Voynich
and Cheryl Welton Schlitt
Travis Hannon
Tauber & Balser PC
E. Neville Isdell
Gregory A. Thompson
Melody C. Justice
Kenneth L. Thrasher
and Catherine N. Thrasher
$5,000 to $9,999
Richard A. Kasnick Jr.
Ruth Ann Bartlett
H. Dwight Mathews
Bennett Thrasher PC
Mr. and Mrs. Stephen A. Grove
Connie D. and W. Ken McDaniel
Mr. David F. Wells
Kenneth G. Jackson and Jody S. Jackson
Moore Stephens Tiller LLC
Timothy M. Whitson
Britt B. Madden Sr.
Robert E. Pound
Mr. and Mrs. Michael G. Maxey
Keith Ruth
Nichols, Cauley & Associates
Ashley P. Scott
$1,000 to $1,499
PricewaterhouseCoopers LLP
Scott Christopher Shell
Kenneth Gregory Abele
Mr. and Mrs. Abram J. Serotta
W. Marks and Jane S. Towles
8 • Tull School Update
and Kimberly D. Whitson
and Sara McCrary Abele
Spring 2006
J . M .
T U L L
S C H O O L
O F
A C C O U N T I N G
—
T E R R Y
C O L L E G E
O F
B U S I N E S S
Time Warner
Robert N. Clemons
J. Ronald Bracewell Jr.
Andrew Allen and Emilie S. Barnette
Deutsche Bank Americas Foundation
Dr. Mark Thomas Bradshaw
William Thomas Bradfield
Michael Henry Doggett
Stephen J. Byrne
Randy and Linda Lewis Butler
and Jenna Thompson Doggett
Dr. David Ray Campbell
Nancy R. Buttram
Brian Edward Duke
Leah Terese Cerny
Bruce Marcus Chapman and Sheila
John Gibson Fletcher
Anthony Greg Chalker
Thomas Chapman
Frazier & Deeter Foundation
Jennifer L. Chapman
Coca-Cola Bottlers’ Sales
Mrs. Irvin Sylvanus Harley Jr.
Dr. Alison Luedtke Claire
Lisa Heskett
Michael Andrew Cook
& Services Company LLC
Angel H. Davis and G. Lee Davis
Kenneth D. Hughes
Earl F. Davis
Chaundolyn Ayawor Johnson
Deloitte Services LP
Dr. Laurence A. Madeo
James Arthur Ellison
and Dr. Silvia A. Madeo
and Sara Schwartz Cook
Jacob Freddie Crowe
and Tracie Plaster Crowe
Seth Winslow Davis
Gregory T. and Sarah Ellen Foster
Gray McCalley Jr.
Danna Blocker Demos
Leslie W. Gates
Liberty Susan Milam
Cayte Kirk Ellison
Grant Thornton LLP
Tommy Farrell Nichols
Amy Nicole Elsberry
Henry & Company LLP
Jay O’Meara
Gregory Louis Erbs
Frank Moore Henry
and Sandra Castro O’Meara
Rickey Lamar Evans
Edward Scarborough Heys Jr.
Darsit and Ketal Patel
Jason F. Martin
Ronald M. Riggs
Susan P. Foster
Mauldin & Jenkins
Robert N. Clemons
Thomas Larry Gattis
Kevin C. McGonigle
Scott Anthony Saucier
Pamela Carolyn Givens
Mr. and Mrs. William E. McLendon
Thomas W. Scott & Associates PC
Elder Grifton Glenn III
Moore Colson
Thomas Wells
Megan Mantis Goeltz
Reznick Fedder & Silverman CPA PC
Charles S. Sanford Jr.
and Mary McRitchie Sanford
John E. Seymour Sr.
and Jill Seymour
Southern Company Services Inc.
and Lori Cleland Scott
Benjamin E.
and Shannon Bryant Shaw
Holly Dianne Thomas
Kristen Elisabeth Weaver
Carl Matthew Whitmire
and Kimbal Drummond Evans
Krista C. Good
Julie Vaughan Goosman
Grant Thornton Foundation
Stephen M.
and Ann Marie Watson Halleck
Jennifer Andre Harding
Will Harkins
Richard B. and Sherrie L. Taylor
Russell J.
Carl W. Vann and Terri B. Vann
$100 to $499
John M. Waters
George Emeka Azih
J. Paul Whitehead III
Michael Joseph Besselman
Michael G. and Michelle E. Hart
David Charles Wood
Alicia R. and Bill Bishop Jr.
James Dennis Hester
Brandi Victoria Bloodworth
Alan Haden Howe
$500 to $999
Michael H. Blount
Chenguang Huang
Mrs. Sylvia Harley Arant
Verne Hanson Borders Jr.
Paul Kil Chong and Jenny Chong
Melissa Paige Bowen
and Jessica Simpson Harrell
continued on page 10
Spring 2006
Tull School Update • 9
J . M .
T U L L
S C H O O L
Honor Roll
O F
A C C O U N T I N G
—
T E R R Y
C O L L E G E
O F
B U S I N E S S
Carpenter Wins AAAAS Award
continued from page 9
Ingersoll-Rand
Robert Cresson Ivy
Reginald Karl Jackson
Stephen L. and Debra Kahn
Hang Liu
Donald Lee Luker
and Cheryl Sanders-Luker
Ralph Victor Melbourne Jr.
Dr. Joyce Marie Middleton
Charles E. Moore Jr.
Dr. Perry Glen Moore
Amanda Anne Nelms
William H. and Allea M. Newbold
Laura Ann O’Dell
John Joseph Prenty Jr.
Shepherd Michael Price
R. K. Jackson Logistics Inc.
Tina Carpenter was recently recognized by the American Accounting Association Auditing Section
for having the current year’s Outstanding Dissertation — “Audit Team Brainstorming, Partner
Influence and Fraud Detection: Implications of SAS No. 99.”
Laura Elizabeth Ranstead
Todd Steven Restel
Under $100
Dr. William Frank Kauder Jr.
Joseph Alfred Richwine
Christina Marie Anderson
Jennifer Miller Littrell
Laura Christine Rose
Mr. and Mrs. James F. Becker
William Roy Mayher
Billie Lynn Sanders
Ellen Butrym Sauve
Jason A. & Annie Y. Smith
Dr. Matthew W. Miller
& Family
Robert Kirk Burnham
and Martha Fogarty Burnham
and Stephanie Kay Miller
Terry D. & Eimly M. Newell
Thomas Patrick Sterne
James Thomas Cook
Mary Amanda Peterson
George L. Strobel II
Dr. Harry Dawideit Dickinson
Carey Ryan Scott
William Preston Suggs
Equifax
Edwin and Amy Nesbitt Thomas
First Data Corporation
Dorothy Kaufmann Steinheimer
Dr. Jerry Eugene Trapnell
Lesli Claire Green
Michael Tinkler Stone
and Sally Durham Trapnell
and Kristin Mathis Scott
James Phillip Hand
Elizabeth Fraser Woodward
Jonathan Robert Tucker
Eric Tomarin Haynes
Alexander Peter Yankowsky IV
Wayne and Sue M. Williams
Leslie Brooke Holley
Scott Anthony
The Home Depot
and Jennifer Smalley Yankowsky
and Nazgol Rahnema Wolfe
Faith Jenine Woodley
www.terry.uga.edu
Paul Tobias Woody III
for the latest news and information from Terry.
10 • Tull School Update
Spring 2006
J . M .
T U L L
S C H O O L
O F
TULL SCHOOL ADVISORY BOARD
Mr. Tim E. Bentsen
Partner, KPMG
A C C O U N T I N G
—
T E R R Y
C O L L E G E
Mr. Bill Douglas
CFO, Coca-Cola Enterprises Inc.
Mr. Kenneth Jackson
CFO, Shaw Industries
Mr. Timothy A. Keadle
Partner
Porter Keadle Moore LLP
B U S I N E S S
Yes, I will support the Tull School of Accounting Excellence Fund at the University
of Georgia. I commit to give $_________________ annually toward this effort for a
period of 5 years.
Please indicate whether your company will match this gift:
Ms. Pamela L. Blackburn
Partner, Deloitte & Touche
O F
■
yes
■
no
I would like information on making a gift via marketable securities: ■ yes
■
no
Please remind me each year of this pledge in _____________________ (month)
Date
Donors Signature
Donors Name (please print)
Mr. Dexter Manning
Partner, Grant Thornton
Mr. Dwight Mathews
Partner, Deloitte & Touche
Mr. Keith Ruth
Partner, PricewaterhouseCoopers
Address
City
Mr. Charles Schulze
Partner
Elliott, Davis & Company LLP
Mr. Gerald A. Shirk
Vice President, Internal Audit
Georgia-Pacific
Zip
Please make all checks payable to the Arch Foundation c/o the Tull School at the University
of Georgia
Return to:
Mr. John Schraudenback
Partner, Ernst & Young LLP
State
SARA COOK
Office of Development
Terry College of Business
The University of Georgia
Brooks Hall
Athens, GA 30602
phone: (706) 583-0874
fax: (706) 583-0730
I ( ■ wish ■ do not wish ) for my name to appear in UGA/ Terry College of Business
publications identifying me as a donor. I would like for my name to appear as:
(you may include your spouse for recognition purposes)
*All funds given to the Tull School of Accounting count towards the
Terry College of Business Dean Circle recognition efforts.
Spring 2006
Tull School Update • 11
J . M .
T U L L
S C H O O L
O F
A C C O U N T I N G
—
T E R R Y
C O L L E G E
O F
J.M SCHOOL
OF
B U S I N E S S
ACCOUNTING
Tull School Update
P. George Benson
Dean,
Terry College of Business
Ben Ayers
Director,
Tull School of Accounting
Denny Beresford
Editor
Patti Hoyt
Co-Editor
Chris Taylor
Art Director
THE UNIVERSITY OF GEORGIA
Brooks Hall • Athens, Georgia
(706) 542-1616
www.terry.uga.edu/accounting
email: phoyt@terry.uga.edu
a publication produced by
J.M. TULL SCHOOL OF ACCOUNTING
Terry College of Business
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