News: Accounting & Finance

Students Among Top Performers in Worldwide Business Game

Continuing a tradition of excellence, a team of Pennsylvania College of Technology business students cracked the Top 10 in an international business-simulation game, while another entered the Top 100 in two categories among competitors from colleges and universities around the world.

The Business Strategy Game is a total enterprise activity, through which each team manages a virtual athletic footwear company competing in a global marketplace. All participating teams are ranked weekly in four categories: overall game-to-date score, earnings per share, return on average equity and stock price.

There were close to 3,900 teams from 240 colleges and universities competing the week of Sept. 29-Oct. 5, when the Penn College teams first cracked the Top 100, and nearly 4,400 teams from 266 colleges participating the following week.

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Interim Dean of Business & Hospitality Named at Penn College

Gerri F. Luke

Pennsylvania College of Technology has appointed Gerri F. Luke as interim dean of the School of Business & Hospitality, effective July 28.

Luke is currently a professor of business administration/management and marketing at Penn College. She received the college’s Veronica M. Muzic Master Teacher Award in May 2013. She joined the college faculty in 2004 and is a former chair of College Council, part of Penn College’s Internal Governance system.

“We are very pleased to have Dr. Gerri Luke agree to serve as interim dean for the School of Business & Hospitality,” said Paul L. Starkey, vice president for academic affairs/provost. “She has all the qualities one hopes to find in higher-education leaders. She is passionate about the quality of teaching and learning at Penn College. She has been intimately involved in shared governance and accreditation. Her colleagues among the faculty welcome her appointment, as do the other deans and I.”

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Transfer Pacts Established With PA Highlands Community College

Graduates of several associate-degree programs from Pennsylvania Highlands Community College who wish to transfer to Pennsylvania College of Technology will benefit from agreements that ease their transition to baccalaureate-degree studies.

Transfer agreements have been approved for Pennsylvania Highlands students in accounting, business management and restaurant/culinary management; additional agreements are being developed. The agreements allow students to choose course work that will fulfill requirements at both institutions and minimize the loss of academic credit.

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Secondary Students Celebrate Investment Returns in Market Exercise

Students from Montoursville Area High School, with their teacher, Linda M. Keiser (who is also a part-time instructor of business administration in Penn College’s School of Business & Hospitality) receive certificates for completing the Stock Market Game.

Students from Montoursville Area High School, with their teacher, Linda M. Keiser (who is also a part-time instructor of business administration in Penn College’s School of Business & Hospitality) receive certificates for completing the Stock Market Game.

Students from four Lycoming County school districts convened at Penn College on Thursday to celebrate their participation in EconomicsPennsylvania’s Stock Market Game, a classroom simulation that offers players the opportunity to invest a hypothetical $100,000 in stocks, bonds and mutual funds. Hosted by the college’s School of Business & Hospitality, the students attended a “meet and greet” with FNB Bank President Bryan L. Holmes (the competition sponsor), as well as representatives from the Williamsport Sun-Gazette and the college’s business and accounting programs. Following remarks by Frederick W. Becker, dean of the School of Business & Hospitality (who also provided the photo); David F. Troisi, managing editor for the Sun-Gazette; and Holmes, an awards ceremony honored the top four high school and top three middle school teams. Montgomery Area High School was the top investor, finishing the 10-week game with $384,936 in total equity. Students attended from Montgomery Senior High School, Montoursville Area High School, Muncy Junior-Senior High School, Williamsport Area High School and Williamsport Area Middle School. Other districts competing in the local competition were East Lycoming, Loyalsock Township and South Williamsport.

Student Investors Benefit From Business Grads’ Financial Acumen

Shawn A. Wilson, left, and Seth A. Martin offer practical career insights to students in the technology-filled Financial Markets Investments Lab. Wilson said the technology at Penn College helped to attract him as a prospective student.

Shawn A. Wilson, left, and Seth A. Martin offer practical career insights to students in the technology-filled Financial Markets Investments Lab. Wilson said the technology at Penn College helped to attract him as a prospective student.

Among Wilson’s pointers is how not to win over a client.

Among Wilson’s pointers is how not to win over a client.

Martin talks about the challenges of working with multiple generations of investors.

Martin talks about the challenges of working with multiple generations of investors.

Business administration alumni Seth E. Martin, ’08, and Shawn A. Wilson, ’00, returned to campus Tuesday to speak with members of the Student Managed Investment Fund. Martin is an investment officer at The Bryn Mawr Trust Co. Wilson owns S.A. Wilson & Associates, a financial planning firm in Lewistown and State College. The two talked about some of the things they valued most about their Penn College educations and discussed the challenges of the finance industry.

Honor Society’s Penn College Chapter Inducts Five Business Students

Delta Mu Delta inductees, from left: Shane M. Beckman, Megan N. Whiteman, Stephen B. Wozniak, Zachary J. Buterbaugh and Cory L. Buckles.

Delta Mu Delta inductees, from left: Shane M. Beckman, Megan N. Whiteman, Stephen B. Wozniak, Zachary J. Buterbaugh and Cory L. Buckles.

The School of Business & Hospitality inducted five students Friday into the Penn College chapter of the Delta Mu Delta International Honor Society in Business. Those inducted during a ceremony in Le Jeune Chef Restaurant were Shane M. Beckman, of Linden, accounting; Cory L. Buckles, of South Williamsport, business administration: small business and entrepreneurship concentration; Zachary J. Buterbaugh, of Conestoga, accounting; Megan N. Whiteman, of South Williamsport, accounting; and Stephen B. Wozniak, of Williamsport, business administration: management concentration. Gerri F. Luke, professor of business administration/management, presided over the induction. Membership in Delta Mu Delta is available to candidates for the baccalaureate degree in a business-related major who have completed at least one-half of the work required for the degree with a cumulative GPA of 3.25 or better and who are in the top 20 percent of their college class in cumulative average grades. In addition, they must be approved – in writing – by the dean of business and hospitality.
Photo by Frederick W. Becker, dean of business and hospitality

Student Groups Enlist Banking Pros for Primer on Fiscal Well-Being

Accounting student Shane M. Beckman introduces the evening’s speakers.

Accounting student Shane M. Beckman introduces the evening’s speakers.

Joe Farley, vice president and chief financial officer for Woodlands Bank, shows the impact of interest rates and the importance of paying down principal balances.

Joe Farley, vice president and chief financial officer for Woodlands Bank, shows the impact of interest rates and the importance of paying down principal balances.

Carol Welliver, vice president of Woodlands Bank, discusses the factors that affect a person’s creditworthiness.

Carol Welliver, vice president of Woodlands Bank, discusses the factors that affect a person’s creditworthiness.

Matt Mensinger, vice president, commercial services division for First Keystone Community Bank, explains the benefits of saving for the future.

Matt Mensinger, vice president, commercial services division for First Keystone Community Bank, explains the benefits of saving for the future.

George A. Gadbois, a business administration: banking and finance concentration student and president of the Student Managed Investment Fund, addresses the audience.

George A. Gadbois, a business administration: banking and finance concentration student and president of the Student Managed Investment Fund, addresses the audience.

A group of student organizations hosted a financial literacy seminar Thursday, inviting students and the community alike to learn how borrowing and saving affect their futures. The students invited local banking experts – Joe Farley, vice president and chief financial officer for Woodlands Bank; Carol Welliver, vice president of Woodlands Bank; and Matt Mensinger, vice president, commercial services division for First Keystone Community Bank, who offered wisdom and answered questions on paying off debts, establishing a positive credit history and investing for the future. The event was hosted by the college’s Accounting Society, Student Managed Investment Fund, Delta Mu Delta Honor Society in Business and Alpha Chi National College Honor Society.

Student Organizations to Host Financial Literacy Program

Students and the community are welcome to attend the first financial literacy program at Pennsylvania College of Technology on April 10.

The event is being organized and hosted by several student organizations, most in the college’s School of Business & Hospitality.

“There are many students and community members unaware of how their loans or mortgages will affect their future, and this program will provide information on how and what affects the loan,” explained Zachary J. Buterbaugh, an accounting student from Conestoga.

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Short-Term QuickBooks 2013 Training Available at Penn College

Workforce Development & Continuing Education at Pennsylvania College of Technology is offering QuickBooks 2013 Level I this spring.

Participants – even those with little bookkeeping knowledge – can learn the powerful tools of the No. 1-rated accounting software for individuals and businesses. New users will be introduced to QuickBooks, and those familiar with the program will learn the features and functionality of its 2013 version.

The class will meet from 9 a.m. to 4 p.m. on March 28 in a computer lab at the Center for Business & Workforce Development on the college’s main campus in Williamsport. Basic understanding of the Windows operating system is a prerequisite.

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Penn College Students Provide Volunteer Income Tax Assistance

Pennsylvania College of Technology students again are volunteering their time to help qualified individuals as they prepare their 2013 income tax returns.

More than a dozen students, most of them majoring in accounting but also representing the college’s financial planning, legal assistant, business management and information technology majors, have undergone months of extensive training to become certified tax preparers by the Internal Revenue Service.

The free service, part of the Volunteer Income Tax Assistance program sponsored by the IRS, is designed for taxpayers who have relatively uncomplicated returns and less than $51,000 in annual income.

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Baseball Brothers Pull Double Play as Co-‘Students of the Month’

Zachary J. (left) and Cody E. Buterbaugh

The start of the year brings a first for Pennsylvania College of Technology: the selection of twin brothers as Students of the Month.

Chosen for the Student Government Association honor are Cody E. Buterbaugh, a building automation technology major, and Zachary J. Buterbaugh, an accounting student. Originally from Conestoga, both are scheduled to graduate in May.

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Business Alum Arranges Beneficial ‘Return’ for Student Investors

The Financial Markets Investment Lab provides a fitting venue for business students' audience with a successful alumnus.

The Financial Markets Investment Lab provides a fitting venue for business students’ audience with a successful alumnus.

Shawn A. Wilson offers career insight.

Shawn A. Wilson offers career insight.

Shawn A. Wilson, who graduated from Penn College in 2000 with a bachelor’s degree in business administration, returned to the college Tuesday to share his “real world” wisdom with participants in the Student Managed Investment Fund. After graduation, Wilson started his career in banking before opening S.A. Wilson & Associates, a successful financial planning firm in Lewistown and State College. In addition to talking about how his Penn College education prepared him for his career – he particularly commended Roy A. Fletcher, assistant professor of business administration/banking and finance, for being a tough and knowledgeable mentor – he spoke with students about the significant regulatory changes that occurred as a result of the recent financial crisis and how he navigated those regulations while starting his firm.

Woodlands Bank Scholarship Established at Penn College

Jon Conklin, president and CEO of Woodlands Bank (left), with Robb Dietrich, executive director of the Penn College Foundation.

A new scholarship at Pennsylvania College of Technology for students enrolled in accounting and business majors has been established by a community bank based in Lycoming County.

The Woodlands Bank Scholarship is building toward endowment and will generate initial annual awards of $1,000 once fully endowed.

The scholarship will benefit students enrolled in the accounting, business administration and business management academic majors at Penn College. Preference will be given to students who have graduated from a high school in Lycoming, Clinton or Sullivan counties.

“The Penn College Foundation is extremely grateful to Woodlands Bank for establishing this scholarship,” said Robb Dietrich, executive director of the foundation. “Woodlands Bank’s desire to assist Lycoming County students attending Penn College is further evidence of their commitment to be a community bank. We’re pleased to partner with them in helping students earn a degree that works.”

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Campus Event Sounds Closing Bell for ‘Stock Market Challenge’

Dean Edward A. Henninger tells guests about Penn College's Student Managed Investment Fund, which uses real money to heighten students' appreciation of the risks and responsibilities involved in portfolio management.

Dean Edward A. Henninger tells guests about Penn College’s Student Managed Investment Fund, which uses real money to heighten students’ appreciation of the risks and responsibilities involved in portfolio management.

Visiting high school students enjoy a "fireside chat" with Paul L. Starkey, vice president for academic affairs/provost..

Visiting high school students enjoy a “fireside chat” with Paul L. Starkey, vice president for academic affairs/provost..

Sun-Gazette editor David F. Troisi talks about the newspaper's philosophy of community partnership and educational support – and the benefit of a hands-on financial exercise in conjunction with textbook learning.

Sun-Gazette editor David F. Troisi talks about the newspaper’s philosophy of community partnership and educational support – and the benefit of a hands-on financial exercise in conjunction with textbook learning.

EconomicsPennsylvania’s Stock Market Challenge, in which students from eight local high schools were given a virtual bankroll of $100,000 each and tasked with managing an investment portfolio over the past 10 weeks, held its wrap-up event on Penn College’s main campus Wednesday. Students from Hughesville, Loyalsock Township, Montoursville Area, Montgomery, Muncy, South Williamsport Area and Williamsport Area high schools, as well as St. John Neumann Regional Academy, took part – touring the college and attending a recognition ceremony in the Thompson Professional Development Center. The top team was from Montgomery, where students posted a “return” of more than $35,000 on their investments. The event included a “meet and greet” with School of Business and Computer Technologies faculty and others; a welcome from Edward A. Henninger, school dean; and remarks from representatives of the Williamsport Sun-Gazette and Jersey Shore State Bank, which co-sponsored the competition, and Carolyn Shirk, vice president of EconomicsPennsylvania.

Dual-Enrollment Students Display Their Accounting Know-How

High school students, part of a dual-enrollment accounting class, get a helping hand from instructor JoAnn H. Pacenta in the college's finance lab Friday.

High school students, part of a dual-enrollment accounting class, get a helping hand from instructor JoAnn H. Pacenta in the college’s finance lab Friday.

Thirty-four students from East Lycoming, Jersey Shore Area, Montoursville Area and Williamsport Area high schools – all enrolled in an Introduction to Financial Accounting course through the Penn College NOW program – got a hands-on opportunity Friday to demonstrate what they’ve learned. Coordinated by the college’s Outreach for K-12 Office, the program allows high school students to earn Penn College credits through dual enrollment. JoAnn H. Pacenta, instructor of business administration/accounting in the School of Business and Computer Technologies, helped the students work with Peachtree accounting software to create a sample company and complete a general ledger. The students’ day included lunch in the Capitol Eatery and, for the Williamsport group, a tour of campus.

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