News about Accounting & Finance

Pennsylvania College of Technology accounting faculty members recently presented a session on income tax returns – and the assistance available to file them – at Thrive International Programs in Williamsport.

Michael D. Shipman, instructor of business administration/accounting, and Bob Nolan, part-time instructor of accounting, provided an overview of the federal income tax system, who should file an income tax return and why. Shipman and Nolan are also the Penn College site administrators for Volunteer Income Tax Assistance, a free, IRS-sanctioned service to help the community file personal income tax returns.

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Pennsylvania College of Technology recently recognized 13 first-year students who received Penn College NOW scholarships.

The recipients completed Penn College courses during high school as part of the college’s Penn College NOW dual-enrollment program. The group was honored during an Oct. 27 reception.

To be eligible, students must have successfully completed at least one Penn College NOW course, have a minimum GPA of 3.0 in Penn College NOW classes, enroll in Penn College as a full-time freshman student for the fall semester after high school graduation, and maintain a 2.5 GPA at Penn College as an enrolled student.

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Pennsylvania College of Technology students offered free assistance to about 160 taxpayers this spring, helping them to realize close to $170,000 in income-tax refunds.

Sixteen Penn College students took part in the Volunteer Income Tax Assistance program, an initiative of the IRS that offers free tax help to people who generally make $54,000 or less, or those who may need assistance preparing their own returns because of a disability or language barrier.

All but two of the students are enrolled in the course Income Taxation of Individuals, taught by Michael D. Shipman, instructor of business administration/accounting. They are pursuing degrees in accounting, legal assistant paralegal, and business administration: banking and finance concentration.

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Students in the Forest Products (FOR 210) class took field trips Tuesday to Wheeland Lumber Co. Inc. in Liberty and to Danzer Veneer Americas in Williamsport. At Wheeland Lumber, the students toured a high-production sawmill, log yard and millwork facility with Penn College alumni Damen R. (’00, forest technology, and ’03, technology management) and Derek E. (’03, business administration: banking and finance concentration) Wheeland. At Danzer Veneer, students visited the log yard and production facility with Paul R. South, a 2016 graduate in forest technology. “Both tours were educational for the students,” said Erich R. Doebler, laboratory assistant for forest technology, who accompanied the group and provided the photo. “It allows them to see in person and experience the manufacturing environment that is discussed in class.”

Pennsylvania College of Technology student Kalee A. Holdren was selected from among her peers to serve as the Pennsylvania Institute of Certified Public Accountants’ student ambassador to the college.

As a student ambassador, Holdren encourages other Penn College students to become members of PICPA, promotes the institute’s programs and scholarships, and works with Penn College Accounting Society President Morgan E. Blackwell, of Beech Creek, to encourage students to attend PICPA events on or near campus and to involve the Accounting Society in the institute.

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An Internet crimefighter and part-time accounting instructor at Penn College, speaking Tuesday in Klump Academic Center Auditorium, advocated “cyberhygiene” to protect our billions of connected devices – and our personal information – from being compromised. William E. Ebersole delivered the final lecture in the 2016-17 Technology & Society Colloquia Series, “Cyberattacks: The Weapon of Choice of Criminals, Terrorists and Spies.” Recalling the mid-1980s movie, “War Games,” in which a teenager nearly brings about nuclear catastrophe by accidentally accessing a military supercomputer, he said real-life hackers are much more focused, persistent, deliberate and sophisticated. And after several examples of their nefarious handiwork, including a widespread credit-card breach at Target stores and a three-day interruption of electrical and telephone service in Ukraine, Ebersole provided valuable counteractive tips. That advice included using strong passwords and changing them often, limiting what information is posted online, watching for unauthorized devices connected to home networks, being vigilant about children’s web activity, and keeping current on upgrading software and installing security patches. Ebersole had high praise for the college’s information assurance and cyber security curriculum, which he said is helping to feed the growing need for competent technicians. Whatever their major, though, he emphasized that all students can practice safe computing, and he especially urged them to consider the ramifications on viable job-seekers from the Internet’s long-term memory. “Don’t put something crazy on social media to knock you out of the picture,” he said.

Pennsylvania College of Technology students set an impressive record during their fall-semester participation in the Business Strategy Game.

In all, Penn College student teams earned spots on the international game’s weekly Top 100 lists 21 separate times.

“This is quite impressive given that, at some point during the semester, over 5,700 teams competed in the BSG,” said Chip D. Baumgardner, associate professor of business administration/management.

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Can’t sell your textbook?  Donate it! Penn College’s Accounting Society is running a book drive on behalf of Better World Books, an organization that aims to improve global literacy. Watch for the green collection bins at such campus locations as the Breuder Advanced Technology and Health Sciences Center, Klump Academic Center, and the Keystone Dining Room. “If you cannot sell your textbook, placing it in one of the bins will ensure the book is recycled for use by someone in need,” said club adviser Michael D. Shipman, instructor of business administration/accounting, “and the Accounting Society will receive $1 for each book in its only fall fundraiser.” The drive, organized by organization President Stephanie J. Michaud, of Linden, will run through the end of Finals Week.

A group of business professionals – including four alumni – attended a recent mixer with students in Penn College’s business majors. In addition to chatting over hors d’oeuvre, the pros offered a panel talk in the Student and Administrative Services Center Presentation Room. They offered lessons they’ve learned in navigating their careers and advised students on such practical tips as submitting resumes, networking, and managing work-related stress. Panelists were Ryan M. Enders, ’13, technology management, and ’11, aviation technology, who is a field service representative for Lycoming Engines; Tracy L. Schroeder, ’13, business administration: banking and finance concentration, who is program coordinator for InCourage Financial Wellness; Lisa M. Andrus, part-time instructor of business administration/management/marketing and owner of Andrus Hospitality; Samuel Ryder, vice president-group manager for Fulton Financial Corp./FNB Bank; Scott D. Rinker, ’12, business administration: marketing concentration, who is a branch manager for Jersey Shore State Bank; and Anthony J. Peachey, ’09, business administration: marketing concentration, who is product manager for Construction Specialties Inc. and holds LEED Green Associate certification.

In Fall 2016, Pennsylvania College of Technology will add to its business offerings a minor in financial counseling. Additionally, updates to coursework in accounting majors will prepare graduates to use and build secure accounting information systems for their future employers.

The changes continue the college’s trademark responsiveness to community and industry needs.

The financial counseling minor gives students the background to help clients improve their financial well-being. They’ll be equipped to educate clients about sound financial principles and guide them to overcoming debt, improving money management, developing financial goals and strategies, and working through financial challenges.

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Students from seven Lycoming County high schools and three middle schools visited Penn College’s Thompson Professional Development Center to celebrate their completion of Economics Pennsylvania’s 2015-16 Stock Market Game. The Stock Market Game is a classroom simulation that offers players the opportunity to invest a hypothetical $100,000 in stocks, bonds and mutual funds. The top high school team, announced at the recent gathering, was Montgomery Area High School, which finished the year with 169,855.70 total equity, followed by Loyalsock Township High School and Muncy High School. Among middle schools, Montgomery Area finished first with $131,689.69, followed by Muncy Junior High School and Williamsport Area Middle School. As part of the event, students participated in a “professional meet and greet” with representatives of FNB Bank, the Williamsport Sun-Gazette, EconomicsPennsylvania and Penn College’s School of Business & Hospitality. Comments were offered by Gerri F. Luke, dean of business and hospitality; Brian K. Walton, assistant dean of business and hospitality; and Roy A. Fletcher, assistant professor of business administration: banking and finance, as well as Bernard Oravec, publisher of the Williamsport Sun-Gazette; Bryan Holmes, regional president of FNB Bank; and Carolyn Shirk, of EconomicsPennsylvania.

The public is invited to laugh and learn with comedic financial expert Colin Ryan from 5-6 p.m. Wednesday, April 20, in Pennsylvania College of Technology’s Klump Academic Center Auditorium.

Ryan’s appearance is sponsored by the college’s Student Government Association and its chapter of Delta Mu Delta, a national business honor society, as well as the Student Activities Office and the School of Business & Hospitality. Admission is free.

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The School of Business & Hospitality invited students who have applied or been accepted to the college’s business and accounting majors to an “Interested Students Day” on Feb. 26. While here, the prospective students were welcomed by the school’s dean and assistant dean, were treated to lunch with faculty, attended hands-on demonstrations in social media marketing and the college’s live brokerage software, and had the opportunity to sit in on a Principles of Management class session taught by Terry A. Girdon, professor of business administration/management. Later, they participated in a meet-and-greet with accounting and business faculty and admissions staff.
Photos by Tia G. La, student photographer

Students from area high schools fine-tuned their ambition and acumen on Friday in Penn’s Inn, where Penn College’s School of Business & Hospitality partnered with EconomicsPennsylvania to present the Entrepreneurship Challenge. Working in teams, the enterprising students took their concepts from ideas to viable business plans. Instructing them in the steps to bringing their business models to life were Carolyn Shirk of EconomicsPennsylvania; Tim Keohane, of the Small Business Development Center at Lock Haven University; and Samuel Ryder, vice president/group manager at FNB Bank, and a member of the school’s Business Administration Advisory Committee. EconomicsPennsylvania is a not-for-profit organization with a mission to ensure every young person in Pennsylvania understands essential economic and financial literacy concepts.

Four Penn College alumni returned to campus Thursday evening to network with business students and offer practical tips for their coming immersion in the job market. Those who spoke were Chris Frantz, ’05, business management, who is director of marketing for Savoy Furniture; Amy (Dibble) Chervinsky, ’11, business administration: banking and finance concentration, who is an associate commercial loan officer for Chemung Canal Trust Co.; Tamara Pavlov, ’11, business administration: management concentration, who is a registered adviser representative for Moff & Associates; and Greg Miller, ’12, building automation technology: heating, ventilation & air conditioning technology concentration. Before networking over refreshments, the alumni spoke to a filled Student and Administrative Services Center presentation room about such topics as work ethic, resume and networking tips, internships, soft skills, problem-solving and the importance of maintaining a healthy lifestyle while putting in long working hours.