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 News from the South Central Indiana
            IMA Chapter
                January 2009
             Volume 21 Issue 5

             Table of Contents

President’s Message …………………………………………………………..3

All Day Seminar …………………………………………………………………4

Upcoming Quest Speakers ……………………………………………………5

2009-2010 Chapter Leadership Board of Directors Needed ………5

Your 2008-2009 Chapter Leadership Team……………………………..6

IMA Membership Categories – Update……………………………………7

Welcome to New IMA Members……………………………………………..8

CPE and FMN Opportunities………………………………………………….9

IMA Technical Luncheon Dates…………………………………………....10

IMA Annual Conference & Exposition…………………………………….11

IMA Member Get A Member Promotion………………………………...12

IMA Student Member Scholarships………………………………….…..13

Volunteer Activities……………………………………………………….…14

CMA Update……………………………………………………………………….17

Certified Management Accountant…………………………………..…18

CMA Self Study Group …………………………………………………….….19

              President’s Message
South Central Indiana IMA President’s Message

When asked to identify events and activities associated with the Institute of
Management Accountants, most members would immediately volunteer the
chapter monthly technical meetings and luncheons and the chapter annual
professional development seminars. The monthly local newsletter may come to
mind. Every member receives the IMA magazine, Strategic Finance. Members
who have attended a regional council professional development seminar might
mention that educational event. Several of our members have attended the IMA
Annual Conference and Exposition, a 3 ½ day event held in June where
attendees can obtain over 25 hours of continuing professional education credits.
Others may think of the Certified Management Accountant testing and
certification process. But these are only a few of the benefits of your IMA
Jeff Thomson, CEO & President of the Institute of Management Accountants,
shared several of the benefits of IMA membership with us at our January
technical meeting. He recognized that IMA has an opportunity for an improved
communication process for the value it provides to its members. To assist in this
communication we will begin promoting at least one IMA product each month in
our newsletter to spread the word of IMA offerings.
Each month the IMA sponsors a one-hour webinar on a timely topic. These
webinars are scheduled for one hour, generally around the middle of the day for
those based in Columbus. At least two of our chapter members (along with over
900 other IMA members) attended the January session on Internal Controls for
Fixed Assets. CMAs receive one hour of CPE credit. And the chapter receives
credit for all member participation. If you participate in a webinar, contact Ron
Luther ( with that information. Notification of the
webinars and the sign-up process are sent directly to your preferred e-mail
account. The February webinar is scheduled for 1:00 on Thursday, February 12
with the topic being Order from Chaos: The FASB Accounting Standards
Codification. Registration is now open. One hour of CPE credit while sitting at
your desk – it doesn’t get any easier than that!!
Jeff’s powerpoint presentation can be found on the chapter website under the Events tab below
Jeff’s name in the January 22 meeting notice.
And don’t overlook the upcoming chapter all-day professional development
seminar on Thursday, February 19, to be held at the Holiday Inn. Teresa
Hattabaugh and Jeanette Marsh have pulled together an outstanding series of
speakers and topics for the day. A registration brochure is attached. You can
attend all day – 9 hours of CPE – for the low member fee of $75. Another option
is to attend either the morning or the afternoon session at a reduced rate. And
finally you can attend only the luncheon technical meeting, similar to our regular
monthly meetings. Take advantage of the opportunities being presented locally
for your benefit!!
Best regards,
Brad Hamilton                Ron Luther

Contact Brad Hamilton if you need a
copy of the full registration form,
which includes speaker bios and
additional information.

          Upcoming Guest Speakers
 19-Feb     All Day Seminar
            See enclosed Brochure
 26-Mar     Beth Christopher         IFRS

                                     Tour of Cummins
            Local Plant Controller   Midrange Engine
23-Apr      Roundtable               Plant to follow

 21-May     Tim Berry, State of      Role of the State
            Indiana, Auditor         Auditor

 2009-2010 South Central Indiana Board
             of Directors

WE NEED YOU!! Volunteers are needed to serve on the chapter’s Board of
Directors next year. The new board starts its work in June, 2009. With a full
board, the work gets spread out among many people. No one is overburdened.
Take a step and join the board of directors next year. Contact Brad Hamilton or
Ron Luther.

        YOUR 2008-2009 CHAPTER
The following individuals have volunteered to serve on the South Central Indiana
IMA chapter Board of Directors beginning June 1 for the 2008-2009 chapter year.
BUT, more volunteers are needed. If you would like to join this team, contact
Brad or Ron.

  CO-PRESIDENT                                   Brad Hamilton
                                                 Ron Luther

  VP OF ADMIN & SECRETARY                        R J Wilson

  TREASURER                                      Aaron Kaluf

  DIRECTOR OF SPECIAL PROJECTS                   Brad Hamilton

  DIRECTOR OF EMPLOYMENT                         Scott Chitwood

                                                 Kim Yager

  VP OF COMMUNICATIONS                           Adam Schumm

  DIRECTOR OF PUBLIC RELATIONS                   Patrick Porter

  DIRECTOR OF NEWSLETTER                         Liz Wooten

  DIRECTOR OF PROGRAM BOOK                       Angela Meyer

  DIRECTOR OF COMMUNITY SERVICES                 Cheng Zheng

  WEBMASTER                                      Dave Rosenberger

  VP OF EDUCATION                                Ann Reid

  CO-DIRECTOR OF TECHNICAL PROGRAMS              Teresa Hattabaugh
                                                 Jeanette Marsh

  DIRECTOR OF MANUSCRIPT                         Ginger White

  DIRECTOR OF STUDENT ACTIVITIES                 Cara Crosby

  DIRECTOR OF PROFESSIONAL DEVELOPMENT           Warittha Thiragirayuta

  DIRECTOR OF CMA PROGRAM                        Chad Mobley

  VP OF MEMBERSHIP                               Shauna Lynn

  DIRECTOR OF MEMBER ACQUISITION                 Anu Arora


IMA Membership Categories – Update
Be A Part of the 2009-2010 Chapter Leadership Team

Now is the time to volunteer to be a part of the South Central Indiana Chapter
Leadership Team for 2009-2010. Chad Mobley has volunteered to be our
chapter President for the upcoming year. He will be supported by Aaron Kaluf as
the Vice President-Administration and Secretary; Cheng Zheng as the Vice
President-Communications; RJ Wilson as the Vice President-Education; and
Cara Chitwood as the Vice President-Membership. A seasoned IMA member will
be supporting each of these individuals in their roles. BUT THERE IS A NEED

  Welcome to New IMA Members
The South Central Indiana chapter welcomes one new member to our chapter
and the Institute of Management Accountants. Jennifer Saxe is the Accounting
Policy Director for the Engine Business Unit at Cummins Inc.
Please extend a hearty welcome to Jennifer at our next chapter technical
Our Chapter Members from Companies Other Than Cummins and Irwin
IMA members come from all types of companies – from different industries, from
small to large, from local to global. Our chapter is fortunate to have management
accountants from many companies. This month we are recognizing those
members with companies who have one or two members. These are valuable
members of our chapter and of IMA.
The information was pulled directly from the IMA member database. Our
apologies go to those individuals who may be a sole representative from a
company and are not listed. Excluded from the listing are members who have no
company affiliation listed in the IMA database.
Name                              Company
Mr. Jerry H. Wetzel               AISIN DRIVETRAIN INC
Mr. Rick L. Merical, CMA, CPA     ALCAN PACKAGING
Mr. Michael R. Bell, CPA          AMOS HILL ASSOCIATES, INC.
Mr. Dan N. Baughman, CPA          ARVIN SANGO INC
Mr. Larry L. Henry                BREEDEN INC
Mr. Dale C. Langferman, CMA       COLUMBUS CITY UTILITIES
Mr. John S. Ranz Jr.              DAVE O'MARA CONTRACTORS INC
Ms. Jennifer E. Jutte             DAVID R WEBB
Mrs. Joella M. Bennett            DECATUR PLASTIC PRODUCTS INC
Mrs. Rebecca S. Gillenwater       DECATUR PLASTIC PRODUCTS INC
Mr. Michael J. Engelstad          EDWARD JONES INVESTMENTS
Mr. Michael Turner                ENKEI AMERICA INC
Mr. Darren L. Evans, CMA          HILLENBRAND IND
Mrs. Linda L. Brown Gray , CMA    HOME PRODUCTS INTL
Dr. Christopher D. Brandon        INDIANA UNIV PURDUE UNIV COLUM
Mr. Danny K. Day                  JCK ENTERPRISES
Ms. Marilou K. Limbach            OMNI FORGE INC
Mr. Michael S. Winslow            RJ PILE LLC
Mrs. Margaret L. Powers, CMA      SHALOM HEALTH CARE CENTER
Ms. Cindy Y. Wei, CPA             SIHO INSURANCE SERVICES
Mrs Christina N Jones             TOYOTA INDUSTRIAL EQUIPMENT MF

      CPE and FMN Opportunities
   Earn one (1) CPE hour each month by attending the monthly 2009 technical
    luncheons. All IMA Technical luncheons are at 11:45 AM – 1:00 PM. See
    IMA Technical Luncheon section for dates.
   FMN Sessions held monthly from 10:00 AM – 2:00 PM at the Cummins
    Corporate Office Building in Conference rooms. You can earn up to four (4)
    CPE credits monthly by attending those sessions. Warittha Thiragirayuta
    is the 2009 Director of Professional Development and can be contacted
    at 812-377-3906 or Specific topics
    will be forthcoming closer to each session.

    Tues. Feb 17, 2009                         Tues. Mar 24, 2009
    Tues. Apr 21, 2009                         Tues. May 19, 2009
    Tues. Jun 23, 2009                         Tues. Jul 21, 2009
    Tues. Aug 18, 2009                         Tues. Sep 22, 2009
    Tues. Oct 20, 2009                         Tues. Nov 17, 2009
    Tues. Dec 15, 2009

Irwin Union Bank and Irwin Financial Management schedule similar sessions
each month, with the opportunity to earn 2 CPE credits. These sessions are held
on the 2nd floor of Irwin Union Bank at 500 Washington Street in Columbus. If
you are interested in attending these sessions, please contact Nancy
Seelye at 812-379-7611 or a week prior to
the scheduled session.

Please register to attend and share it with your chapter members and others who
may be interested in attending. We have a convenient new location this year, a
great panel of speakers, and new topics. We hope you can all join us for 8-hours
of CPE and networking opportunities. Registration Form on South Central
Indiana website.

  IMA Technical Luncheon Dates
All IMA Technical Luncheons are on Thursdays on the following dates for 2009.
The speakers for these luncheons will be announced at a later date.

                              February 19, 2009
                               March 26, 2009
                                April 23, 2009
                                May 21, 2009

The IMA Technical Luncheons will again be held at the Holiday Inn for 2009 from
11:45-1:15pm EST. Holiday Inn was the most affordable venue out of the four
locations solicited, and most members were satisfied with Holiday Inn as the
venue last year.

     IMA Annual Conference & Exposition

Registration for the IMA Annual Conference & Exposition June 6 to 10 is now
open. Take advantage of the Early Early-Bird special and receive an additional
5% discount on the registration fee by sending in your fee by February 13.

Online Registration Now Open for IMA’s 90th Annual Conference & Exposition; Save More
with Early, Early Bird Rates

IMA members know the value of leading presenters, hands-on learning, and live networking at
IMA's Annual Conference & Exposition. IMA's 90th Annual Conference will take place June 6-10,
2009 at the Sheraton Denver Downtown Hotel in Denver, CO. Register before February 13 and
take advantage of Early, Early Bird savings -- an extra 5% off Early Bird registration rates*. Visit for more details.

This year's Conference offers a program of nearly 40 sessions and the opportunity to earn up to
20 NASBA-approved CPE credits. Sessions will cover costing methodologies, ERM (Enterprise
Risk Management), performance management, CMA certification, as well as on-the-job tips and
tools. IMA's Solutions Showcase exhibit hall returns will full exhibit booths and other planned
improvements to maximize the conference experience.

“In today's times, continuing education is more important than ever. Professionals need a
competitive edge to advance their careers and organizations need staff equipped with the latest
skills and knowledge about best practices,” said Jeff Thomson, IMA president and CEO.

Early, Early Bird registration rates, in effect through February 13, include: Regular Member $850
(excludes Annual Dinner) to $941 (includes Annual Dinner); Educator Member rates range from
$584 (excludes Annual Dinner) to $675 (includes Annual Dinner); and ELA/ELM $432 (excludes
Annual Dinner) to $523 (includes Annual Dinner). IMA has also negotiated a special Conference
rate of $169/night (plus tax) at the Sheraton Denver Downtown Hotel. This special rate will be in
effect while rooms are available or until the cut-off date of May 15, 2009. Plus, the first 100
Conference registrants will be entered in a drawing for a chance to win $250 to help defray travel
costs to Denver.

IMA's Annual Conference website includes complete Conference program and schedule
information, including details on IMA's special networking events, the Solutions Showcase exhibit
hall, and registration and hotel information.
*Please note the Early, Early Bird special discount offer does not apply to the following
registration categories: Member One Day, Student Member, Nonmember with Annual Dinner,
Nonmember without Annual Dinner and Nonmember One-day.

IMA Member Get A Member Promotion
Member get a Member program: this program gives IMA members an opportunity
promote the benefits of IMA to their colleagues, friends and other associates. As
result, IMA members are helping strengthen the organization by recruiting new
and having National thank them for their efforts.

The campaign was launched January 13 and will last to March 16. There was a
article on this new effort in the last issue of IMA Online News. In addition all
members will receive a letter from Jeff Thomson introducing them to this initiative
within the next two weeks.

When the contest concludes, the following prizes will be awarded:
• First place: $1,000
• Second place: $600
• Third place: $400
• Runner-up prizes (4): $250 each

Please visit the for information and access to the
special membership applications which must be used for participants’ to obtain
proper credit. Only memberships processed using one of the special applications
will be included in the challenge and prize money.

IMA Student Member Scholarships

The deadline for applying for IMA scholarships is quickly approaching.
Applications must be completed and submitted by February 15. Only student
members of IMA are eligible to apply for these scholarships, so competition is
limited. The top award is a $15,000 scholarship awarded by the Stuart Cameron
McLeod Society of the Institute of Management Accountants.
Contact Ron Luther ( for information on the application

               Volunteer Activities

                     VOLUNT EER ACT I ON CENT ER

                   February 2009 VOLUNTEER OPPORTUNITIES
                     IN BARTHOLOMEW COUNTY
 Volunteer to help families grow together in healthy ways!
Caring Parents' home visitor volunteers work with Bartholomew
County families with new babies to bring them the most current
parenting and developmental information. During training,
volunteers learn active listening skills, what local resources are
available, and how to provide a little extra support to the new
mom and dad. Two 3-hour training sessions are required. Call 375-6748 for more

DSI (Developmental Service, Inc. provides services to adults and children with
mental, physical, and emotional disabilities, special needs, and delays) is looking
for Event Specialists who are interested in helping at the D’vine Winter Wine Fest
event that will take place on Saturday, February 28, 2009.
Office Specialist who are interested in assisting staff members with some simple
office work (clerical activities such as answering the phone, filing, scanning, and
data entry).
Client Specialists who are interested in providing one-on-one support for
individuals with disabilities who are enrolled in various DSI programs (activities
such as lending a supportive ear to clients to talk to, reading to clients, playing
games with clients, etc.)
Property Specialists who are interested in assisting with improvements around
DSI’s properties, both inside and out (activities such as painting, building repairs,
maintenance work, handy man projects, etc.)
Please contact Ashley Evans via e-mail

First Call For Help 211
First Call For Help 2-1-1 Telephone Specialist: 4 hour shift, M-F 8:30am to 5:00
pm (minimum age 18)
Firs Call For Help 2-1-1 Tax Assistance Scheduler: 2 hour shift, m-f 10:00am-
12:00 (minimum age: 18)
Please contact Anne Dolan at 812-375-2204 or via e-mail

Book Buddies
Book Buddies is a volunteer tutoring program active in all 12 public schools in
Bartholomew County. Volunteers spend one hour a week tutoring struggling
second grad readers. Unfortunately, more than 40 students do not have tutors
for the second semester. Please contact one of the following coordinators to find
out ho one hour a week can change a life forever!
Samantha Harpring 812-376-4461 or or Lesa Thomas
812-376-4398 or

Columbus Child Care Center
The Columbus Child Care Center is looking for a group of volunteers to
landscape and maintain different areas of the CCCC property. The Columbus
Child Care Center will pay for the materials, they just need the manpower to
landscape and maintain throughout the warm months.
Please contact Angie Huebel 812-314-2344 or e-mail

The Literacy Program at McDowell
Adult tutors are needed for adult literacy students 1-2 hours/week. The
scheduling is flexible to fit the availability of the tutor and learner. Both meet
either at McDowell or any public learning site.
Skills:Volunteer tutors should have a sincere interest in helping adults with
learning challenges--no experience is necessary. Tutors will be trained
individually in one, 1 hour session once matched with a specific student.
Minimum at 18
Please contact Barbara Stang 812-375-2794 for more information

Just Friends Adult Day Service
We are looking for people to provide one-on-one support for special needs and
senior participants enrolled in our program. This enables us to provide a better
experience for the individuals and the group as a whole. Some of our participants
need individual conversation, activities and attention in order to receive the
optimal benefit of our program.
One on one games, puzzles, craft, reminiscence, chatting and other forms of
mental stimulation can bring smiles to faces. Games, puzzles, craft items, etc.
are all provided.
Skills: Patience, flexibility, calmness, spontaneity, and a desire to interact with
memory affected, stroke or special needs participants in a one-on-one capacity.
NO personal care, such as bath rooming is required. Criminal history check
required. Must prove free from active TB within 30 days of service start date.
Free TB test provided at start and on an annual basis.
Pease contact Elizabeth Ball 812-372-6415 for more information

Hospice of South Central Indiana:
Hospice of South Central Indiana is a not-for-profit community organization that
provides professional medical care and support services to individuals with a life-
limiting illness regardless of their ability to pay. Hospice volunteerism is an
opportunity to serve the people in your community by providing support to
patients and their families during this difficult period of time. Volunteers help
patients and families on an individual basis as needed. Many of the volunteers
state that they have gained much personal satisfaction from being a part of this
special program and that they receive much more from the patient/families they
serve than they give. Areas of volunteerism include Patient/Family, On Call,
Clerical, Greeter/Gift Shop, Bereavement, and Fundraising. For more
information please contact Kathy Toburen, Volunteer Coordinator at 314-8031


Toys for the Firemen’s Cheer Fund

Thanks to all – the members who donated, the members who were drop-off
points around the community , and Cheng Zheng who organized the activity and
delivered the toys to the Firemen – who made this event a success. A trunkload
of toys was collected.

The chapter is planning on one additional community event this year. An
announcement will be made soon.

                         CMA Update


Congratulations are extended to chapter member RJ Wilson on completion of his
fourth and final part of the CMA examination. He soon will be receiving his actual
certificate and will join the ranks of our chapters CMAs. Congratulations, RJ!!

           Certified Management

                       Secure a Professional Advantage with
                IMA’s Prestigious Global Certification Program: CMA

The Certified Management Accountant (CMA) designation provides corporate
management and individual members with an objective measure of knowledge
and competence in the field of management accounting. It is an invaluable
credential for professional advancement and for broadening professional skills
and perspectives.
CMA Review Materials:
Gleim's Complete Systems for the reorganized CMA exam (13th Edition):
CMA Complete System (32% Discount)
Books, Test Prep CD-Rom, audios, Gleim Online
for Parts 1-4 CMA                                                     $503.17

Please contact the Gleim representative listed below to order your study

                                Chad Murray
                        Accounting Training Consultant

                          Gleim Publications, Inc.
                           4201 NW 95th Blvd.
                          Gainesville, FL 32606
                       PHONE (800) 874-5346, Ext. 222
                           FAX (352) 375-6940
                         Mon-Fri, 8 a.m. - 7 p.m. ET
                           Sat-Sun, Email only

             CMA Self-Study Group

To help provide candidates with better tools and greater incentives to complete
the CMA® exam, the Institute of Certified Management Accountants (ICMA®) will
enact the following policy changes:
(1). Transition Program: Effective April 18, 2008, those who were enrolled in
the previous Certified Management Accountant program, which ended on
December 31, 2007 will now have the opportunity to meet that goal by passing
Part 2 (Management Accounting and Reporting) and Part 4 (Business
Applications) of the Revised program. This offer will only be available to active
IMA members who had only one part of the prior exam remaining. The time limit
to complete these two parts will be four years from the date you have passed
your first part in the previous CMA program or April 30, 2009, whichever comes
(2). New calculator policy : Beginning May 1, 2008, candidates can continue to
bring the simple six-function calculator that has been the standard for the exam,
or they can bring either the Texas Instruments BA II Plus or the Hewlett-Packard
10BII, both of which perform net present value calculations.
(3). Higher and uniform exam fees : Effective July 1, 2008, fees for taking each
exam part in the U.S., Canada, Mexico, and internationally will be $190. This fee
increase reflects ICMA's increasing costs and increasing value of the program,
as well as matches the prevailing market rates for similar exams.
(4). Waiver Fee Increase to $190 per exam part Effective July 1, 2008.
(5). New spreadsheet program: ICMA is targeting April 1, 2009, as the date
when candidates taking any exam part will have access during the test to an
Excel-like spreadsheet program, which will make it easier to perform calculations,
including net present value.
The following changes reflect ICMA's experience that candidates – for a variety
of reasons, of course – tend to procrastinate on finishing the exam. The changes,
discussed below aim to encourage candidates to begin taking the exam
(6). Elimination of 50%: Effective July 1, 2008, the 50% credit that is now
offered to candidates who decide not to take the exam after they have registered
will be eliminated.
(7). Entrance fee changes: Effective July 1, 2008, the one-time entrance fee to
take the exam will increase from $125 to $200. This increased fee represents
increased value: included will be four electronic books (in pdf format) of sample
questions and newly retired questions, as well as the CMA Assessment Tool to
help candidates determine which areas require further study (these materials
together normally sell for more than $100).

In addition, this entrance fee will expire in four years. If a candidate has not
completed the exam by that time, the entrance fee must be paid again.
  (8). New $75 student fee: Beginning July 1, 2008, students will pay $75 when
they enroll in the CMA program. Students will continue to receive a discount on
their IMA membership fee and can take the CMA exam for half price. Included for
the fee will be the four electronic books (in pdf format) of sample questions and
exam content information, as well as the CMA Assessment Tool.
(9). New testing time window and schedule: Effective January 1, 2009, the
exam will be offered according to the following schedule:
January and February: Parts 1, 2, and 3
March: no exam parts offered
April: Part 4 only
May and June: Parts 1, 2, and 3
July: no exam parts offered
August: Part 4 only
September and October: Parts 1, 2, and 3
November: no exam parts offered
December: Part 4 only
The implementation of windows will benefit candidates by encouraging the
formation of live review courses. Further, it will provide candidates with a month
to study and prepare for Part 4 once they have completed Parts 1, 2, and 3.
Candidates will also receive their Part 4 results six weeks prior to the next Part 4
window (as opposed to the current two weeks); giving them more time to prepare
should they need to re-take Part 4.
For additional information about any of these policy changes, please see the
CMA Candidate Handbook, available on the IMA website at Questions can also be directed to Dennis
Whitney, CMA, vice president, ICMA, at

Additional CPE credits and Points for CMA Self Study
As you may already know that our chapter will automatically get points for you
passing the exam. However, you might not know that we also get points for the
time you spend studying for it. We would recommend that you wait until you
actually pass the exam and report the number of hours to us so there will not be
any change in the studying hours. We will get one point for an hour spent
studying. The maximum points we can get will depend on the number of study
hours suggested by your study materials for each part of the exam, which can
vary. For those of you that have taken the exam, please send the following
information to Chad Mobley.

Exam Part: (1, 2, 3, or 4)
Pass date:
Study Materials used:
Number of hours spent studying: (Hours claimed cannot exceed the
"recommended study hours" in your study materials)
Visit to learn more about CMA. Get certified!
Please contact Chad Mobley, a CMA Program Director, at 812-377-3963 or if you have any questions.
  “The CMA deals with all the relevant areas of financial management and is a
perfect complement to the strategic way we expect our professionals to perform.”
               Stephen J. Cosgrove, CMA, VP & Corporate Controller, Johnson & Johnson


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