Accountancy2009University of NOTRE DAME

More than 37 years ago, accountancy ProfessorKen Milani had an idea that appealed to hisworking-class roots as a native of Cicero, Ill. He

could pair his accounting students, and those of SaintMary’s College, with local low-income taxpayers whoneed help preparing personal income tax material. Areacertified public accountants could serve as mentors.Thus was born the Tax Assistance Program (TAP),

one of the University’s oldest service-learning projectsand a key educational experience for students enteringpublic accounting and tax practice. Annually, TAP stu-dent volunteers prepare thousands of federal and statetax returns for Michiana residents, at no charge. As theprogram has matured, TAP has expanded an invaluable

service for international students, researchers, scholarsand faculty.In 1999, the program was endowed in the name of

Vivian Harrington Gray, whose family wished to honorthe former Wisconsin school teacher who herself volun-teered to help low-income individuals prepare taxreturns.This team of students, staff, faculty, and community

representatives were honored during the recent ND-Purdue football game with a Presidential Team IrishAward for their exemplary service, teamwork, and com-mitment. The award program has been designed to pro-vide a special and unique opportunity to publicly recog-nize teams that exemplify the University’s core values. +

THREE WORDS ARE FOUND

ON THE TABLETS OF THE

MARK: “VITA DULCEDO

SPES” WHICH MEANS

“OUR LIFE, OUR

SWEETNESS, OUR HOPE.”

Kudos for aCommunityAccountingOutreachProgram

Weare pleased to announce that MikeMorris has taken on the role of Directorof the MS in Accountancy Programs.

Mike has been the E&Y Program Faculty Advisorsince August of 2000 and has served on the OpenEnrollment Program Curriculum Committee forthe last several years. He will be responsible forboth the operational and academic aspects of theOpen Enrollment and E&Y degree programs.Mike replaces Linda Espahbodi who left her

position as Director of the MS in Accountancy Programs at Notre Dame.She has joined the Mason School of Business at the College of William andMary as the MAcc Director. Since joining Notre Dame in 2000, Linda hasmade numerous contributions to the MSA programs. We wish Linda allthe best in her new position.Congratulations to Mike Morris on his new roles. +

To our alums and friends,

Iknow that this has been a challengingyear in many respects. Accountingfirms, other businesses, and not-for-prof-

it organizations have had to make harddecisions because of the economic environ-ment. Additionally, financial reporting andtax guidance seems to change at increasingspeeds. Also, there is currently greatuncertainty regarding business regulation.The accountancy faculty members embracethese challenges and continually adjusttheir courses to produce the best possibleaccountants. Because of the faculty efforts,excellent students, dedicated staff, andstrong alumni support, our undergraduateand graduate students continue to doexceptionally well in the job market.This newsletter highlights some of the

specific activities and awards of our profes-sors, staff, students, and alumni. In theremainder of my letter, I wish to mentionsome activities and accomplishments ofthe department as a whole.In April 2009, the department main-

tained its AACSB International AccountingAccreditation. The department is formallyreviewed by the AACSB every five years.The process involved submitting a reportin December 2008 and being visited by areview team in February 2009. The teamevaluated our assurance of learningprocesses, faculty, students, curricula,interaction with the profession, initial jobplacement, and ultimate success of ourgraduates. The reaccreditation was trulya team effort that involved our entiredepartment, the Notre Dame Career Center,and the department’s advisory board.In order to provide faculty members with

a better understanding of the impact of thepoor economic environment on the

accounting profession, several advisoryboard members made presentations inApril on the challenges they currently face.Members from industry, the Big 4, and mid-size accounting firms spoke on the issue andalso addressed the types of skills that ourstudents need to address future economiccrises. The presentations and subsequentdiscussions helped us to think more clearlyabout issues that should be incorporatedinto our courses and how to advise students.Over the last year, we also have intro-

duced more material on IFRS into theundergraduate and graduate curricula.In sophomore courses, we make studentsaware of IFRS, but we concentrate on trans-actions and events that would be handledsimilarly under U.S. GAAP and IFRS. Ouremphasis at the junior level financialreporting courses is on the economicnature of a transaction (e.g., asset impair-ment), possible accounting alternatives,and U.S. GAAP treatment. In some cases,we mention IFRS treatment, but we focuson fundamental concepts that would bethe same under U.S. GAAP and IFRS.However, at the graduate level, in arequired course and an elective course(which is discussed later in the newslet-ter), we examine in detail specific differ-ences between U.S. GAAP and IFRS. Wewill continue to incorporate more IFRS intothe curriculum as the U.S. financial report-ing regulations become clearer. In theupcoming year, we will also incorporatethe new Codification of U.S. GAAP.I hope that you enjoy reading about

the activities of our faculty, students, andalumni. I believe that we have one of thebest accounting programs in the country.With your help, we work to prepare thenext generation of leaders in accountingand business. +

ND Accountancy / 2009 IssuePAGEØ3

ND Accountancy / 2009 IssuePAGEØ2

ND ACCOUNTANCYISSUED BY THE DEPARTMENT OF ACCOUNTANCYUNIVERSITY OF NOTRE DAME

DEPARTMENT CHAIRFred Mittelstaedt

ASSISTANT CHAIRJamie O’Brien

CO-EDITORDena LeinenJim Wittenbach

CONTRIBUTORSTom FreckaJim FuehrmeyerVicky HolawayLorie MarshKen MilaniJeff MillerMike Morris

CONTRIBUTORS cont.Bill SchmuhlJanet O’TousaRam RamananDave RicchiuteJuan RiveraTom SchaeferJim Seida

Message Fromthe Chair

FRED MITTELSTAEDT, Chair

Accountancy AdvisoryBoard Members 2008-2009Ann Marie AchillePricewaterhouseCoopers, LLP

Matt BarrettUniversity of Notre Dame

Gene BastedoFedEx Corporation

Mark ChainDeloitte & Touche USA LLP

Dick FremgenRetired, Deloitte LLP

Tim GrayRyan Companies US, Inc.

Sanjay GuptaMichigan State University

Ken HaffeySkoda Minotti Certified PublicAccountants

Bill HarringtonPricewaterhouseCoopers, LLP

Jim HummerLuxemburg Capital LLC

Tom MurphyCrowe Horwath

Drew PalufUniversity of Notre Dame

Norm PrestageErnst & Young LLP

Dan RahillKPMG’s Chicago Metro Tax Practice

Clare RicherPutnam Investments

Cynthia SmetanaThe Catholic Charities of theArchdiocese of Chicago

Michael W. WallaceSaveology.com

Glenn ZubrydBDO Seidman, LLP

PWC

TEAM

SUP

WIT

HND

INLO

NDON

In the 2009 spring semester,eleven Notre Dame accounting andbusiness majors studying in Londonenrolled in a course entitled“Accountancy in the United Kingdom.”The purpose of the course is to helpNotre Dame students (while in resi-dence in London) enhance theirunderstanding of the accountingprofession in the United Kingdom,international accounting and financeissues, and the global accountingprofession in general. PwC providedtheir expertise, facilities, and helpedto organize, select, and present vari-ous topics to our ND students. NotreDame Professors Tom Schaefer andJeffrey Miller supervised the courseand helped with overall course devel-opment, student communication, cur-riculum content, and student workassessment. The students completedthree major projects and concludedthe course by presenting their finalprojects to professors Schaefer andMiller and representatives of PwC.Students’ responses to the coursewere extremely positive. Here area few of the comments about PwC.

“I truly enjoyed the accountancyin the UK course. The employeesfrom PwC were great. They keptthe atmosphere relaxed, yet theytaught us a lot. The subject matterwas interesting and they were ableto relate to the material with real,practical experiences they had.Overall, I really enjoyed the classand I would highly recommend it.”

“My overall experience with thecourse was great. I feel like I reallydid learn a lot, while interacting withprofessional British businessmen.PwC was outstanding. It was a warmcommunity that presented us withgreat material. They were friendly,professional, and knowledgeable.”

Among the PwC people helping withthe course in London were ND alumsBrian Sweet and Thomas Martin. PaulEardley and David Blondel of PwC’sLondon offices also played major rolesin the course. Special thanks go toGreg Garrison, PwC’s Americas Leader,Assurance Services, for providingPwC’s support for the course.

The course will be offered againin spring 2010. +

COVER STORY PHOTO—FRONT ROW, left to right: Kathleen Martinez, Leigh Ann Roberts, AngelMiller, Becky Laskowski, Sue Walczewski; MIDDLE ROW, left to right:Peter McCormick, Tom Bullock, Debbie Watts, Becky Bahu, Will Coburn,Ken Milani, John Affleck-Graves, Dena Leinen, Ed Hums, Jim Wittenbach;BACK ROW: Kevin Manning, Chris Mueller, Ray Dalton, Matt Barrett

New Director of MS inAccountancy Programs

THE HAMILTON AWARDFOR ACCOUNTANCYJoshua HammackHuntington, VA

THE ACCOUNTANCYCHAIRMAN’S AWARDChristopher MuellerReading, PA

THE ACCOUNTANCYFACULTY AWARDMeghan FlahertyConcord, MA

THE BROTHER CYPRIAN, CSCAWARDKurt KnoblauchSaint Charles, MO

Kathryn HatfieldIndianapolis, IN

Susan PinnickSouth Bend, IN

Sarah GeismanSaint Louis, MO

THE ELMER LAYDEN AWARDAndrew SediaBronx, NY

Christopher SchwarberNorth Olmsted, OH

Matthew PoczatekInverness, IL

Katrina PiligianTroy, MI

THE FEDERATION OF SCHOOLSOF ACCOUNTING AWARDRaymond John McCarthyNorth Royalton, OH

THE JAMES DINCOLO AWARDChristopher DeanWheaton, IL

Christopher LundCincinnati, OH

Aubrey Jarred

Chanute, KSRenee RzepkaNew Carlisle, IN

THE PETER BRADY AWARDAshley JonesWestlake Village, CA

THE TARA K. DEUTSCH AWARDElizabeth ByrumGalesburg, MI

THE INDIANA CPASOCIETY AWARDJesse CouryOmaha, NE

THE HAMILTON AWARDFOR ACCOUNTANCYChase SmerdzinskiVienna, VA

THE ACCOUNTANCYCHAIRMAN’S AWARDRyan WiniarskiAliquippa, PA

THE ACCOUNTANCYFACULTY AWARDWilliam WarnockPark Ridge, IL

THE BROTHER CYPRIAN, CSCAWARDRebecca GalleyDerry, PA

Patrick RyanFairfield, CT

Kyle BarrettsmithBloomington, IL

THE ELMER LAYDEN AWARDRyan WiniarskiAliquippa, PA

Bethany NorthwayKentwood, MI

Colleen KellyGranger, IN

THE FEDERATION OF SCHOOLSOF ACCOUNTING AWARDChantal OttinoPhoenix, AZ

THE JAMES DINCOLO AWARDJamie SmithHouston, TX

Patrick SweeneyNorthbrook, IL

Allison SalmonsAkron, OH

THE PETER BRADY AWARDPeter SchreckHudson, MA

THE TARA K. DEUTSCH AWARDSarah PodwikaState College, PA

THE INDIANA CPA SOCIETYAWARDChristina PelkaRiverside, IL

2008AccountancyExcellenceScholarshipWinners

Maureen Bauer

Catherine Casey

Daniel Coyne

Laura Devany

James Ellis

Thomas Ford

Caitlin Flynn

Richard Hollowood

Christopher Jacquier

Christina Karem

Krista Larsen

Kevin Martin

Hogan Miller

Colleen Nolan

Kevin Poczatek

Michelle Ripple

Patrick Rogers

Staysha Sigler

Meghan Stuertz

Stephen Walter

William Warnock

Eileen Walsh

Daniel Zahren

+

2009AccountancyExcellenceScholarshipWinners

Sean Bennett

Kayla Bishop

Philip Black

Nicole Bobowski

Jessica Burjek

Charles Campisi

Lauren Edger

Ruby Lee

Meredith Locasto

Ellen McCready

Andrea Miller

Julie Mulloy

Matthew Peterson

Katherine Sample

Christopher Skubis

Meagan Smith

Jasmine Williams

Iris Wong

Emily Wurtenberger

Nicole Zobrist

+

+

+

2009 Senior StudentAward Winners

Forecasting CAREThe Center for Accounting Research andEducation met some extraordinaryopportunities in 2008.

The annual conference became self-sustaining for the first time, theMBA Finance Club’s trip to Omaha

was televised on Fox Business Channel,and research and editorial prospectswere plentiful.A long-standing goal of the Center

has been to make the annual FinancialStatement and Analysis conference selfsustaining. The 2008 conference, Cross-Border Issues, allowed us to partner withThe Chicago Graduate School of Businessfacility in London. The GSB opened itsdoors to CARE Conference attendees fromthe United States, Great Britain, Europe,the Middle East and Asia. The timelytopic, coupled with the dynamic of beingin the heart of London’s financial hubas well as the academic setting, providedan unsurpassed conference experience.Speakers of note included Kenneth Leefrom Citi Investment Research, DavidGascoigne from KMPG UK, Leonie Bell andAgris Preimanis from Oxera Consulting,Jing Zhang from Moody’s KMV, and twoassociates from the Financial ServicesAuthority.While many businesses were met

with obstacles beginning in the fall of2008, CARE entered discussions withThe National University of Singapore toco-host the 2009 conference, EmpiricalMethods in Capital Markets-BasedAccounting Research. Building uponthe success of the 2008 conference, the2009 conference was also self-sufficient.Presenters included Kevin Chen fromthe Hong Kong University of Science andTechnology Business School, JosephPiotroski from Stanford University, SurajSrinivasan from Harvard University, andPeter Easton from the University of NotreDame. In addition, Cambridge BusinessPublishers printed our first Center forAccounting Research and EducationWorking Paper Series based upon thepapers presented at the conference, whichwas then mailed to our 500+ member list.The fourth annual Midwest Summer

Accounting Conference, Current Topics in

ND Accountancy / 2009 IssuePAGEØ5PAGEØ4

ND Accountancy / 2009 Issue

story continued on page 7

Department of Accountancy2008 Senior StudentAward Winners

Motivated by a shortage ofaccounting academics––andmindful of graduate student

interest––the department since Spring2007 has offered annually AcademicResearch in Accounting, a two-creditcourse in the MS in Accountancyprogram.

The course introduces studentsto research method; illustrates andapplies a protocol to summarize,interpret, and critique research;and probes issues related to thedemand for accounting professors.Rather than educate students to

conduct academic research, the coursetrains students to consume research

published in leading journals, such asThe Accounting Review and the Journalof Accounting Research. Thru in classdiscussion, article reviews, and a majorwriting project, each student answersfor each of a number of articles ques-tions, such as: What research questiondoes the article address? Why is thequestion important? How does thestudy address the question? Whatdo the results show? And, how wouldyou articulate the article’s punchline?Although enrollment is capped, thecourse over the past three years hasserved approximately 45 students––no less than 15 percent of the studentsenrolled in the program—an encourag-ing sign of early interest in academiccareers. +

DAVID RICCHIUTE

Ricchiute Addresses the Shortage of AccountingProfessors

In December of 2008 Professor Rivera was the recipient of a short-termresearch grant from the PricewaterhouseCoopers (PwC) Foundation.

Through its IFRS Ready Grant Program PwC reviewed, selected andfunded a total of 24 competing proposals in 2008, all aimed to pro-mote the study and learning of IFRS and to develop material for usein accounting programs in U.S. universities.

Professor Rivera’s proposal was to research and develop material fora new course on Immersion in IFRS. The course was offered for the firsttime to Master of Accountancy Students at Notre Dame during the secondhalf of the 2009 spring semester. +

Rivera Addresses Impact of IFRS on the Curriculum

ND Accountancy / 2009 IssuePAGEØ7

ND Accountancy / 2009 IssuePAGEØ6

Deloitte ND CaseStudy SeminarThe 17th annual Deloitte & Touche Notre DameCase Study Seminar was held December 5, 2008,at the Mendoza College of Business. Six teamscomprising thirty students reported on theresults of their research of complex accountingissues in the areas of revenue recognition withmultiple deliverables, discontinued operations,asset impairments, segment reporting, fair valueaccounting and accounting for contingencies.All the cases presented to the students arefrom the Deloitte Foundation’s Trueblood CaseSeries and are based on current, real-life clientsituations. The Trueblood cases were originallydeveloped for an annual conference, now underthe direction of the American AccountingAssociation, designed to provide accountingfaculty with current, reality-based experiencein researching and resolving difficult accountingand auditing situations. Cases are availablefor classroom use at no charge to accountingfaculty throughout the United States.

Each student team is assigned a Notre DameFaculty advisor and an advisor from Deloitte &Touche. The Deloitte advisors, Tracy Harrison,Pat Conway, Dyan Rohol, Liz Seibold, Vince Smithand Joe Rutledge, are all graduates of NotreDame and eager to spend time working withthe students. The students must analyze theirassigned case, research professional literatureand develop a fifteen minute presentationdesigned to simulate a communication toa corporate audit committee. The “auditcommittee” for the competition comprisedfour Deloitte partners: Rich Caffarelli, Mike Fox,Susie Kurowski and Mike Power, all Notre DameAlums. At the conclusion of each presentation,the four partners take turns challenging thestudents on the basis for their conclusions muchthe same way those partners are challenged bymembers of their clients’ audit committees.

After all presentations had been made, the fourpartners caucused to determine a “winning”team based on the overall professionalism oftheir presentations. This year’s winning teamwas Kathryn Ozimek, Mike Gonzalez, Billy Pfeifer,and Sean Brosnan advised by Dyan Rohol andND Professor Jim Fuehrmeyer.

Finally, as reported in last year’s letter, thewinning team in the fall 2007 ND competitionwas invited to participate in Deloitte’s NationalStudent Case Competition. The ND team ofSerena Chan, Caroline Schneider, Dave Hillegass,Andrew Monahan and Angela Sutton, along withtheir advisor, Professor Dave Ricchiute, competedin Scottsdale, Arizona in April, 2008, earning sec-ond place behind BYU and ahead of Morehouse,UC-Berkeley, Connecticut and Illinois. +

The PricewaterhouseCoopers (PwC) xTAXNotre Dame campus competition was heldin November 2008. Six teams, each withfive students, competed in the campuscompetition. The teams were mentored byProfessors Ed Hums, Ken Milani, Jim Seida,and Jim Wittenbach. The case topic wastax incentives for clean energy and energy

independence. The winning team’s mentorwas Professor Jim Seida. Unfortunately theteam was not selected to compete in theNational competition in Washington, D.C.,breaking Notre Dame’s three-year run ofhaving a national finalist. Congratulationsto all the case participants for such highquality presentations. Go Irish! +

Forecasting CAREcontinued from page 5

Accounting Research, was held June 13-14, 2008 at the Kelley Schoolof Business, IUPUI Indianapolis. The 2009 conference was hosted bythe Department of Accounting and Information Systems on June 5-6,at Michigan State University. What began as four institutions gettingtogether to share their work over the summer has grown to eightschools participating this past year.November, 2008, found us preparing the MBA Finance Club for

their annual trip to Omaha to meet with Warren Buffett. Two daysbefore the trip we received news that Fox Business Channel wouldbe filming a special entitled Buffett U (which can be viewed athttp://www.foxbusiness.com/video-search/m/21490901/buffett-on-invest-ments-and-taxes.htm). The group was accompanied this year by NDFinance Department Professional Specialist Jerry Langley. Although2008 was perhaps not the best year for Buffett and Berkshire Hathaway,it was a great year for the Finance Club students who attended. Theopportunity to meet Buffett is a once in a lifetime experience; to immor-talize it on tape is priceless and CARE is thrilled to have once againbeen a part of it.So what does the remainder of 2009 and 2010 hold for the Center?

If we knew, our 2010 conference theme would not be Forecasting…..What we do know is that 2008 was a great year for CARE. 2009 is shap-ing up to be outstanding in its own right, and, we hope, as the economystrengthens, there will be some great forecasting research done whenwe make our 2010 conference call for papers later this year. +

JUAN RIVERA

Pictured is the University’s winning teamfrom the Spring 2008 National StudentCase Competition (left to right), SerenaChan, Andrew Monahan, Angela Sutton,Dave Hillegass, and Caroline Schneider.

PWC’s xTax Competition

Daniel Rahill NamedOutstanding Alumnusfor 2008

Dan Rahill is the Partner-in-Charge, Tax for KPMG’sChicago Metro Business

Unit. With more than 25 years ofexperience, he specializes in corpo-rate and partnership taxation forboth public and closely-held busi-nesses. Dan works primarily withmany multinational corporationsand has extensive tax structuring,negotiation and transaction management experience in publicand private mergers, acquisitions and divestitures. He is amember of the Midwest Area Leadership Team, and serveson the Chicago Charitable Contributions Committee. He alsoserves as chairman of the Chicago office’s Work EnvironmentAction Council, an ongoing national initiative whose missionis to improve the work/life balance with the firm, and on anannual basis, Dan teaches several of the Firm’s managementtraining classes.From a community perspective, Dan is a member of the

Board of Directors of the Tax Assistance Program, a programto provide professional tax assistance to the working poorof Chicago. Additionally, Dan is a member of the Board ofDirectors of Metropolitan Family Services, a program to pro-vide and mobilize the services needed to strengthen familiesand communities. He is a member of a variety of other organi-zations including The Economic Club of Chicago and theExecutives’ Club of Chicago, the Chicago Business Forum,and he serves as sponsor of the North Shore Tax Forum.Dan serves as KPMG’s College Relations Partner and PrimaryRecruiter for the University of Notre Dame, serves on theNotre Dame Department of Accountancy Advisory Board,and is a member of the Board of Directors of the Notre DameMonogram Club.Graduating from the University of Notre Dame with a

Bachelor’s degree in Business Administration, Accounting,Dan also received J.D. and LL.M. in Taxation degrees fromthe DePaul University College of Law.Dan’s professional and business affiliations include being

a member of the American Institute of Certified PublicAccountants, the Illinois CPA Society (currently serving asChair of the Business Tax Committee and recently electedto the Board of Directors), the American Bar Association,and he is admitted to practice before the U.S. Tax Court. +

ND Accountancy / 2009 IssuePAGEØ9

ND Accountancy / 2009 IssuePAGEØ8

Beta Alpha Psi Officers:

PresidentChristina Pelka (MSA)

Vice-Presidents, ProfessionalActivities

FA 08: Rachel Brandon (Senior)SP 09: Caitlyn Flynn (Junior)

Vice-President, Service ActivitiesFA 08: Caitlyn Flynn (Junior)

SP 09: Samantha Vadas (Junior)

Co-Directors, Banquets & SocialRebecca Galley (Senior)Patrick Ryan (Senior)

ReporterChris Mueller (MSA)

TreasurerFA 08: Jemini Patel (Senior)SP 09: Rachel Louie (Junior)

Corresponding SecretaryPatrick Murray (MSA)

WebmasterRebecca Galley (Senior)

Chairperson, Accountingfor the Future

Caroline Schneider (Senior)

Chairperson, Center for theHomeless STAR Program

Sarah Podwika

Student Activities LiaisonRick Bronge (Senior)

Number of Members: 78

Faculty AdvisorProfessor Janet O’Tousa

Notre Dame’s chapter of BetaAlpha Psi is proud to haveachieved national distinction

as a Distinguished Chapter.Chapters are recognized based onthe number of professional and serv-ice hours logged by their member-ship as well as chapter participationin nationally designated activities.The membership performed 1,093hours of community service andprofessional meeting attendanceamounted to 996 hours. Chapteractivities included attendance at theMidwest Regional meeting and theAnnual meeting. This outstandingeffort on the part of the membershipand the officers resulted in our fifthDistinguished Chapter award.Beta Alpha Psi members attend

between 6 to 8 meetings per semes-ter. Each meeting is focused on atopic chosen to enrich the members’educational experience or preparethem for some aspect of their profes-sional careers. We kicked off the2008-2009 academic year with ourannual Meet the Big Four night.Held the evening before the FallCareer Fair, the event provides ourmembers with important informationon preparing for the Career Fairand internship interviews. Othermeeting topics throughout the yearincluded Foreign Corrupt PracticesAct, Value of the CPA designation,Professional Ethics, Dress forSuccess, Managing Your Money,Forensic Accounting, IFRS, InternalAudit, the Economy, the BankingIndustry, State Income Taxes andthe CPA exam and Opportunitieswith Middle Market Accountingfirms, co-hosted with the NotreDame Accounting Association.Our MSA and senior membersalso held two Internship Panelsto inform the incoming candidates

for induction (juniors) on variousinternship experiences.We are grateful to the many profes-

sionals who present to the members.They allow us to meet Beta AlphaPsi’s mission of enhancing members’educational experience.One of our signature service

projects is the Accounting for theFuture presentations. Designed tocomplement departmental goalsof increasing accounting majors,the presentation was given to sopho-mores in the fall and freshmen in thespring. A two fold goal of acquaint-ing the students with the major, aswell as the many opportunities avail-able in the profession is met by apanel of members representing thejunior, senior and Masters’ classes.The members discuss their decisionprocess to major in accounting,internship experiences and how theyfeel the major prepares them for anoutstanding professional career.Ongoing service projects include theTaxpayer Assistance Program, week-ly homework assistance to studentsin the Introductory Accounting class-es and a weekly math-tutoring clinicfor K through 12 students, in part-nership with the St. Joseph CountyPublic Library. We continued ourpartnership with the Center for theHomeless STAR program. Membersassist in the job skills training classby reviewing resumes and cover let-ters and helping the trainees prac-tice their interview skills.Beta Alpha Psi members have

the opportunity to use their skills tobenefit members of their communityand the department of Accountancy.

+

Our website:http://www.nd.edu/~bapsi/

Norman PrestageOutstandingAlumnusfor 2009

Norm is themanagingpartner of

Ernst & Young’soffice in Rogers,Arkansas, provid-ing audit andaudit-related serv-ices to a broadspectrum of multi-

national clients. He currently serves as theGlobal Coordinating Partner for Wal-MartStores, and has previously served in thatrole for McDonald's Corporation, NewellRubbermaid Inc., and KapStone Paper andPackaging Corporation. He has significantinternational experience and lived andworked for five years in E&Y's practicesin Germany and the Netherlands where hewas responsible for service coordinationfor U.S.-based multinationals in Europe. He isalso a member of the firm's German BusinessGroup network serving the inbound invest-ment needs of German clients in the US.A 1987 graduate of Notre Dame, Norm

currently serves as Vice President andTreasurer of Youth Guidance, a Chicago-based community service organization whichsupports at-risk children in the ChicagoPublic Schools, and is an officer and boardmember of Anima, Young Singers of GreaterChicago. He has been a member of NotreDame's Accountancy Advisory Board since2006 and also serves as the Ernst & YoungCampus Relations Partner at Notre Dame.Norm, his wife Shannon and their 3 daugh-ters, Claire, Erin and Caitlin are in theprocess of relocating from Glen Ellyn, Illinoisto Rogers, Arkansas. +

Beta Alpha Psi Achieves Fourth DistinguishedChapter Award

ND Grad Wins 2007 Elijah Watt Sells Award

Master of Science in AccountancyAssociation Class of 2009

The MS in Accountancy Class of 2009 includes 96 undergraduate studentsfrom the University of Notre Dame and many other universities inside andoutside of the United States..

Some of those Universities are: Arizona State University, Arkansas StateUniversity, Miami University, Saint Mary’s College, Clemson University,Centenary College of Louisiana, Brigham Young University, College ofCharleston, Florida Golf Coast University, Gonzaga University, Marietta College,McMaster University, Miami University of Ohio, Missouri State University, SaintLouis University, Missouri Valley College, University of Richmond, Utah StateUniversity, North Carolina State University, Northwestern State University, SaintJoseph’s University, State University of New York, Syracuse University, TexasChristian University, Tulane University, University of Arizona, University ofColorado, University of Missouri, University of Nottingham, University ofOklahoma, University of South Carolina, University of Connecticut.International universities are: Peking University, Xiamen University, Nankai

University, Fudan University.Internships: Prior to entering the MS in Accountancy program, 81 of 96

(85%) of the students had at least one internship.Orientation: Orientation consisted of administrative information and team-

building off campus. Chicago Career Day at the Santa Fe Building introducedstudents to the Big 4, other accounting firms and consulting firms with break-fast, lunch and breakout sessions in small groups for questions and answers.

story continued on page 15

story continued on page 15

The students pictured(left to right) are MSAAofficers: back row–JonAlbano, Sarah Kurtsman,Chantal Ottino, BradenTurner; front row–ChristineHaunert and Amelia Ulmer

ND Accountancy / 2009 IssuePAGE10

ND Accountancy / 2009 IssuePAGE11

2008-09 Accountancy Department Workshop Series

Sandra Vera-Muñoz, COMMITTEE CHAIR

COMMITTEE: Brad Badertscher, Jeff Burks, Jeff Miller

Feng Li, University of Michigan The Determinants and Information Content of the Forward-lookingStatements in Corporate Filings—a Naıve Bayesian MachineLearning Approach

Peter Easton, University of Notre Dame Timely Loss Recognition and the Asymmetry of PriceIncreases/Decreases Conditional on Price Levels

K. Ramesh, Michigan State University The Interdependence Between Institutional Ownership andInformation Dissemination by Data Aggregators

Jeff Burks, University of Notre Dame Are Investors Confused by Restatements After SOX?

Tatiana Sandino, University of Southern California Executive Pay and “Independent” Compensation Consultants

Brad Badertscher, University of Notre Dame Information Asymmetry and Restatement Announcements:Evidence from Informed Trading

Craig Nichols, Cornell University Stock Option Exercises and the Quality of Operating Cash Flows

Michael Williamson, University of Texas at Austin Attracting Creativity: The Initial and Aggregate Effects of ContractSelection on Creativity-Weighted Productivity

Melissa Lewis, University of Utah Do Voluntary Disclosures that Disavow the Reliability of MandatedFair Value Information Reflect Legitimate Concerns About Reliability?

Kristian D. Allee, Michigan State University Estimating Cost of Equity Capital with Time-Series Forecastsof Earnings

Brad Badertscher, University of Notre Dame Accounting Restatements and Disclosure DelaysJeff Burks, University of Notre Dame

YMP Program CompletesFirst Decade

Notre DameAccountingAssociationThe Notre Dame Accounting Association

(NDAA) is open to all Notre Dame students

interested in the accounting profession.

During the 2008-2009 academic year it

was once again active in the student and

professional community.

During the fall semester the NDAA

hosted a presentation by Matt Fantazier,

’06, currently with Johnson & Johnson on

accounting work in an industrial environ-

ment. Will Cushing ’09 and Michelle Ripple

’10 successfully organized two presenta-

tions, one on Careers in Mid-Market

Accounting and another on Alternative

Career Opportunities for Accountants. Rick

Hollowood ’10 spearheaded a concession

stand fundraiser before the Syracuse game.

The Association’s signature service

project, Christmas Care packages for the

troops in Iraq, was led by Stacey Gill ’10

and was genuinely appreciated by the

package recipients, most of whom had a

relationship to the Notre Dame community.

Under Joanna Martinez’s direction, over

200 “Notre Dame Accounting” T-shirts were

sold during the year. They were also

included in the Christmas Care Packages.

During the spring semester, the

Association, in conjunction with PwC

TheMS in Accountancy Programfor E&Y, called “Your MasterPlan” (YMP), graduated 58 stu-

dents in August of 2008, which com-pleted the first decade of operation.In total, 637 students have graduatedfrom the University of Notre Damewith a similar number from theUniversity of Virginia. 59 new EY stu-dents (37 non-accounting, 22 account-ing majors) and 52 returning EY stu-dents are enrolled in the University ofNotre Dame classes for the summerof 2009. Because the YMP Program

has always had a goal to recruitnon-accounting majors, only 23.1percent of the recruits in the pastdecade have been accounting majors,with 42.8 percent finance majors,23.3 percent other business majors,9.5 percent economics majors, and1.3 percent other non-businessmajors. The non-accounting majorstake undergraduate accounting cours-es in an “Accounting ImmersionProgram” during the first half of thefirst summer. Undergraduate account-ing majors arrive in early July of the

first summer, and the combinedgroups begin thirty-three credit hoursof graduate courses leading to theM.S. in Accountancy Degree. EY stu-dents have come from more than 150different universities, with BrighamYoung University, the University ofFlorida, and the University ofCalifornia–Santa Barbara providingthe most students to the EY Program.With the exception of two distance

learning courses, all courses in the15-month program meet in one of twofive-week sessions in each of two

University of Notre Dame Law School student

John Berger has won the 2007 Elijah Watt Sells

Award, issued by the American Institute of

Certified Public Accountants, recognizing the

ten highest scorers on the CPA exam in the

entire country.

Berger has pursued both his law and under-

graduate accounting studies at Notre Dame, but

his quest for Double Domer status isn’t unusu-

al. More remarkable is the fact that he took

the Illinois CPA exam last summer, between

college and law school, and scored higher on

the rigorous test than anyone else in the state.

That feat earned him the Illinois CPA Society’s

Gold Excel Award in 2008 in addition to the

Sells Award. +

http://newsinfo.nd.edu/news/9566-law-student-counts-cpa-exam-award-among-many-honors

story continued on page 12

What are the important issues impacting businessand society? How do we deal with change?What methodologies are used to research the

future? How can we create our preferred futures? Theseare a few of the questions that students will explore in theForesight in Business and Society course that will becomea requirement in the junior year for all Mendoza Collegeof Business students starting fall 2009. The future studiescourse is intended to develop in students an understand-ing of “big picture” issues, as well as critical thinking skillsand understand how organizations intervene to find solu-tions to problems and create opportunities.Carolyn Y.Woo, Martin J. Gillen Dean of the Mendoza

College of Business, encouraged the development of thecourse out of a concern that much of traditional businesseducation was strategy-focused and had little to do withexternal environments or future events. “It doesn’t makesense for students in collegenot to be looking forward,”said Woo. “Our students mustconnect with big issues, anddevelop good research skills.”

Tom Frecka, with ableassistance from Margot(O’Brien) Cleveland and retiredErnst & Young tax partner JayMcIntosh, led the developmentof the Foresight course. Muchof the curriculum involves a

focus on major societal problems that have no quick oreasy solutions, such as poverty, health care, environmen-tal issues and energy concerns. The first step in findingpreferred solutions—and the first learning objective of thecourse—is to develop an awareness of the importantissues and trends affecting the human community, includ-ing those related to sustainability. Another learning objec-tive involves examining the roles played by various organ-izations such as government units, NGOs, think tanks andbusinesses in dealing with these issues, and in particular,understanding the impact of their responses and interven-tions. A third objective is to expose students to quantita-tive and qualitative methodologies used by futurists toidentify trends, consider the implications of change, toplan for alternative futures and to suggest solutions lead-ing to preferred futures. These methodologies includeapproaches such as the future wheel, backcasting andscenario development.A major emphasis of the Foresight in Business and

Society course is the development of students’ criticalthinking skills. Included is critical analysis (evaluating thequality of evidence used to support a position), systemsthinking (complex interactions among variables, secondorder effects, unintended consequences) and visioning.Finally, the course has a major research focus, with stu-dents working in groups of four to explore a specific topicarea of their choice.Pilot versions of the course have been offered over the

past three semesters. A sampling of past research topicsincludes genetically modified crops, nanotechnology inmedicine, carbon markets, the future of atomic energy,solutions to water shortages and issues related to elec-tricity generation.

Student reaction to the course has been positive.Caitlin Lynch, a junior finance major from Cincinnati,Ohio, said: “The course helped me to question conven-tional wisdom and imagine a future much different fromthe present.” James Pappas, a junior finance major fromRogers, Arkansas, said: “The Foresight class taught me tothink about my environment from a fresh perspective. Byconsidering the interplay between demographic, econom-ic, socio-cultural, technological and political variables, Ilearned how to analyze changes and understand theirbroad implications. The set of critical thinking skills thatI learned through the class will certainly be an asset forme, in both my future academic and career endeavors.”The Foresight in Business and Society Course is but

one example of the leading-edge curriculum at theMendoza College of Business, which has as its centralmission to examine ways that business can be used asa force for good in solving some of the world’s mostintractable problems.Notre Dame faculty members and students will share

in a presentation of the course at the World FutureSociety’s annual meeting held July 17-19 in Chicago.Following Notre Dame’s example, we hope that otherbusiness schools will also see the relevance of “Foresightin Business and Society” for their students. +

Foresight in Businessand Society Course

Business LawProgramRecognized

BusinessWeek 2009 has rankedMendoza's business law programas the 4th best in the Country.

Business law classes are offered throughthe Accountancy department and areinstructed by Notre Dame alums andfaculty members—Bill Kirk, Brian Levey,Tonia Murphy, and Jamie O'Brien(Bill and Jamie also matriculated fromour very own Accountancy program). +

ND Accountancy / 2009 IssuePAGE13

Students Visit Capitol Hill

Deloitte & Touche Tax partners Scott Ecker

(Costa Mesa office) and Jon Oleksyk (Chicago office)

returned to Professor Wittenbach’s classroom on

September 30,2008 to announce this year’s winning

team in the Tax Proposal Competition. Katie Mackin,

Kevin Manning and Sean Laplante proposed a “Minors

and Dependents Credit (MDC)” that simplifies the cur-

rent structure of deductions and credits pertaining to

dependents. The trio traveled to Washington, D.C. in

November and presented their proposal to Deloitte’s

National Tax Policy Office. They also visited Capitol

Hill and the AICPAs’ Washington office. +(Photo taken in the lobby of the Senate

floor by the picture of Calhoun.)

Stephannie Larocque joinedthe Notre Dame faculty in 2009after obtaining her PhD fromthe University of Toronto. Shecompleted an undergraduatedegree in business at theUniversity of Western Ontarioand then went on to spendeight years as an equityresearch analyst with UBSwhere she followed North American media stocks. Duringher time at UBS, she also became a CFA charterholder.Stephannie’s research interests encompass analyst fore-casts, cost of equity capital estimation, and firm disclo-sures. She and her husband Scott have two children. +

Tax Assistance ProgramUpdate

Serving taxpayers by preparing (free of charge) federal andstate income tax returns continues to be the primary focusof the Vivian Harrington Gray Notre Dame-Saint Mary’s

College Tax Assistance Program (TAP). In 2008, about 3,800 taxreturns were prepared for over 2,000 taxpayers. Notre Dame andSaint Mary’s College students are the backbone of the TAP whichhas been serving the Michiana community since 1972. Facultymembers from both schools and CPAs also volunteer their timeand talent to the TAP. In September of 2008, the TAP was honoredat the Notre Dame-Purdue football game by being presented thePresidential Team Irish Award. Ken Milani, Faculty Coordinatorof the TAP, and faculty, current students, alumni and communityrepresentatives were recognized in an on-field ceremony beforeproceeding to the press box to be congratulated by Universityof Notre Dame President, Rev. John Jenkins, CSC. +

ND Accountancy / 2009 IssuePAGE12

Tax package triopictured (left toright) are SeanLaplante, KatieMackin andKevin Manning.

Department WelcomesNew Faculty Member

NDAAcontinued from page 11

sponsored a game watch of a Notre Dame basketball

game. It sponsored an information session on the CPA

exam that featured presentations by Professors Hums and

O’Brien and advice from recent Accountancy graduates at

Crowe Horwath. The year concluded with the annual bus

trip to Chicago. This year the offices of E&Y and KPMG

were visited.

The NDAA was led during the year by Ryan Winiarski

’09 as President. He was assisted by Eileen Walsh ’10

and Ben Queen ’10 as Vice Presidents, Ashlyn Izumo ’10

as Secretary and Bryan Tin ’10 as Treasurer. Bill Schmuhl

once again served as Faculty Advisor. +

Jeff Burks’ paper,“Materiality Decisions andthe Correction of AccountingErrors,” co-authored withAndrew Acito and BruceJohnson, was published inThe Accounting Review. Hisdissertation, “DisciplinaryMeasures in Response toRestatements after Sarbanes-Oxley,” was accepted forpublication in the Journalof Accounting and PublicPolicy. He presentedpapers at the FARS MidyearConference, University ofNebraska, and Universityof Notre Dame.

Brian Levey is teachinga new elective: ManagingOrganizational Complianceand Ethics. The coursebuilds on Introduction toBusiness Ethics, which istaken by all business majors,and focuses on organization-al compliance and ethicsprograms, including whythey are important, theiressential elements and theresulting compliance andethics functions withinorganizations that havegrown in number, size andsignificance in recent years.

Ken Milani was activein the publication arena,providing free income taxpreparation service throughthe Vivian Harrington GrayTax Assistance Program andmaking professional presen-tations. Publications includ-ed Tax Tips for the 2009Graduate and articles thatappeared in TAXES, The TaxMagazine and Practical TaxStrategies. Presentationswere made to the MichianaChapter of the Institute ofManagement Accountants

and a joint session of theBradley University BetaAlpha Psi chapter/PeoriaNotre Dame Alumni Club.

Kevin Misiewicztaught introductoryfinancial accounting (usingInternational FinancialReporting Standards) to104 students in fall, 2008 atthe University of Notre DameAustralia. Accompanied ND-U.S. students on field tripsto Singapore and to Broome,Australia. Conducteduniversity-wide workshopson teaching ethics at theFremantle and Sydneycampuses of the Universityof Notre Dame Australia infall, 2008. On March 27,2009, put on a workshopon “Teaching Ethics inBusiness” for faculty of theHaworth School of Business,Western Michigan University.

Fred Mittelstaedt isthe co-author, along withProfessors Revsine, Collins,and Johnson of a textbookentitled Financial Reporting& Analysis (4th Edition).He also serves on theBoard of Directors of theFederation of Schoolsof Accountancy.

Mike Morris is thefaculty director for theM.S. in Accountancy OpenEnrollment and E&YPrograms. He continuesto serve on the Board ofDirectors of Early ChildhoodDevelopment Center inSouth Bend, Indiana. Mikerecently taught “StrategicCost Management” and“Decision Processes inAccounting” to undergradu-ate accounting majors and

“Accounting for DecisionMaking and Control” tostudents in the “AccountingImmersion Program,”which is designed for thenon-accounting majorsof the M.S. in AccountancyProgram for Ernst & Youngemployees.

Tonia Murphy presentedher paper, “Reneging: ATopic to Promote EngagingDiscussions About Law andEthics in a Business Law orLegal Environment Course,”at the Annual Meeting of theAcademy of Legal Studies inBusiness, in Long Beach, CA,in August of 2008. Thepaper will be publishedin the Fall 2009 issue ofthe Journal of Legal StudiesEducation. She also servedas a panelist for a round-table discussion on“Teaching Business Lawin the Catholic BusinessSchool: Opportunitiesto Embrace the CatholicMission,” during the interna-tional conference, “BusinessEducation at CatholicUniversities: Exploringthe Role of Mission-DrivenBusiness Schools,” held atNotre Dame in June of 2008.In August of 2008, Murphywas named Senior ArticlesEditor of the Journal of LegalStudies Education.

Jamie O'Brien continuedto maintain dual licenses(CPA and Law) and earnedover one hundred (100)hours of continuing educa-tion over the past year, inan effort to remain on topof current topics in bothprofessions to enhancehis business law classes.O'Brien also presented at

the 2008 ContinuingEducation Seminar for theNorthwest Indiana CPASociety. His topic, 2008 TaxUpdate and Planning Issues,was received by 120 localand regional practitioners.

Ram Ramanan’s co-authored paper “StockOption Grants, CurrentOperating Performance andDeferral of Earnings” hasbeen accepted for publica-tion in the InternationalJournal of Management.Ram gave a couple of lec-tures on the topic of strate-gic performance manage-ment at Oxford University ina one-week program duringSeptember 2008. He servesas a Consulting Editor,Journal of Education forBusiness. Ram also serveson the advisory board forCARE. Along with PeterEaston and Lorie Marsh, heorganized a trip for 27 MBAstudents to meet WarrenBuffett in Omaha duringNovember 2008, for thesecond year running.Ram serves as the CollegeDiversity Officer. He hascompleted 16 years as theadvisor to Beta GammaSigma, the Business SchoolHonor Society.

Juan Rivera is thelead editor of the bookentitled NAFTA and theCampesinos–The impactof NAFTA on Small-ScaleAgricultural Producers inMexico and the Prospectsfor Change published inDecember of 2008 by TheUniversity of Scranton Press.The book, which includestwo chapters authored byJuan, reports on the results

Faculty Activities

from a multidisciplinaryapproach to research onNAFTA and agriculturalmarkets.In December 2008,

Juan received an IFRSReady Grant fromPricewaterhouseCoopersfor research and preparationof a new course on theimmersion to IFRS.

Tom Stober continues,for the second year, toserve as the liaison betweenthe Financial AccountingStandards Committee (FASC)of the American AccountingAssociation (AAA) and theFinancial Reporting PolicyCommittee (FRPC) of theFinancial Accounting andReporting Section (FARS)of the AAA, as well as serv-ing as a member of boththese committees.Over the last two years,

Tom developed a newupper-division (juniorand senior level) coursetitled “Corporate FinancialReporting” for financemajors. This course, whichfocuses on financial report-ing topics beyond the intro-ductory level from theperspective of a user offinancial statements, ratherthan a preparer or auditorperspective, is now arequired course for allNotre Dame finance majors.In addition to teaching thisnew course, Tom continuesto teach “Analysis andValuation Using FinancialStatements” in the M.B.A andM.S. Accountancy programs.

Sandra Vera-Muñoz’spaper titled, “Exploring theExtent and Determinants ofKnowledge Sharing in Audit

Engagements,” co-authoredwith Chee W. Chow andJoanna L. Ho, was publishedin Asia-Pacific Journal ofAccounting and Economics inAugust 2008. In August 2008Sandra served as inviteddiscussant for a managerialaccounting research sessionat the AAA Annual Meetingin Anaheim, California.Sandra has been invited toserve a two-year term (2008-2010) on the planning com-mittee of the New FacultyConsortium, co-sponsoredby the American AccountingAssociation (AAA) and Ernst& Young LLP. In February2009 she participated in theNew Faculty Consortium inLeesburg, Virginia, as a smallgroup leader for the manage-ment accounting researchfaculty, and lead a discus-sion at a plenary session.Sandra continues to serveas reviewer for variousaccounting journals andresearch conferences, asfaculty adviser for KPMG’sFuture Diversity LeadersProgram, and as coordinatorfor the AccountancyDepartment’s ResearchWorkshop series.

Jim Wittenbach spentthe spring semester of 2009teaching in Notre Dame’sLondon UndergraduateProgram. He continuesto participate in the“Residential Scholars”program sponsored bythe Office of Student Affairs.Jim serves as the facultyadvisor to the Mastersof Science AccountingAssociation (MSAA) andas the co-editor of theNotre Dame AccountancyNewsletter. +

ND Accountancy / 2009 IssuePAGE15

ND Accountancy / 2009 IssuePAGE14

MSAA Class of 2009continued from page 11

summers. Electives are not an option in the YMPProgram, since coursework is completed during thesummer, a time when very few MBA or other MS inAccountancy courses are taught at all, let aloneduring comparable five-week periods. Uniquely,the EY Program requires nine months of client servicebetween the first and second summer sessions, forwhich three credit hours are granted upon completionof an academic paper reflecting on the student’sprofessional experiences.The EY Program has recently experienced some

staff and administrative turnover including KaraTurner (program manager for EY) and Joshua Malone(operations manager). As part of a departmentalrestructuring initiative, Professor Mike Morris willfollow Linda Espahbodi as director of the MS inAccountancy programs, effective June 1, 2009. Lindahas accepted a similar position at the College ofWilliam and Mary in Williamsburg, Virginia. +

Class of 2008 officers: President>Braden Turner |VP of Fundraising>Christine Haunert | VP ofRecruitment>Jon Albano | VP of CommunityService>Amelia Ulmer | VP of Communications>ChantalOttino (Fall semester) & Nate Baumgartner (Springsemester) | Secretary/Treasurer>Sarah KurtzmanFundraisers: The MSAA held a concession stand

prior to the Stanford University game, October 4. | OnSeptember 10, members of the MSAA assisted in setup and teardown of the Fall Career Expo booths. |The proceeds of both projects will be used to fundtheir community service projects, intramural sports,and other events during the year.Community projects: Students brought school

supplies to orientation to be donated to an area ele-mentary school with a high number of low incomefamilies. The 78 items consisted of pencils, markers,notebooks, crayons and more were donated toPerley Elementary School. | MSAA supplied food forThanksgiving dinner for three families with childrenenrolled at Perley Elementary School. | They adoptedtwo adults from the Center for Homeless at Christmasto buy them much needed items, such as, a wintercoat, gloves, etc. | Also at Christmas, they participatedin the “MCOB Giving Tree” supplying the YWCA Womenand Children’s Shelter of St. Joseph County, WomenCare Center, and St. Margaret’s House with items oneach charity’s wish list. | Members participated in the“Turning Over a New Leaf” project at Robinson Center.On November 15th students went out into the commu-nity to the elderly and disabled to rake leaves. +

YMP’s First Decadecontinued from page 11

(Bottom to Top): Ken Milani, Bill Schmuhl,Jim Seida, Brian Levey, Jeff Burks, Tonia Murphy,Tom Stober, Jamie O’Brien, Kevin Misiewicz,Dave Ricchiute, Juan Rivera, Jeff Miller, SandraVera-Muñoz, Tom Frecka, Brad Badertscher,Fred Mittelstaedt, Mike Morris, Jim Wittenbach,Jim Fuehrmeyer, Tom Schaefer, Janet O’Tousa(Not Pictured): Peter Easton, Ed Hums,Stephannie Larocque, Chao-Shin Liu,Bill Nichols, and Ram Ramanan

Acco

unta

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Facu

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Department of Accountancy102 Mendoza College of Business

Notre Dame, IN 46556

business.nd.edu/accountancy

Nonprofit Org.U.S. PostageP A I D

Notre Dame, INPermit No. 10

The Notre Dame accountancyundergraduate program was

ranked 4th nationwide and the masters

program was ranked 6th in the most recent

(2008) Public Accounting Report survey.

In its most recent (2009) College Report,

U.S. News and World Reportranked Notre Dame’s Undergraduate

Accountancy Program 7th in the nation.

THCO

UNTR

Y

BESTin the {