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The Top 5 Trends Tax Preparers Should Know

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After a 17 hour flight to South Africa, I was happy to get off of the plane. I smiled to myself. I was finally in South Africa. I took a deep breath and tried to take in all the around me. The weather was beautiful and so was the scenery. I would be joining my other 7 classmates and Professor Lyles for 10 days in the country of South Africa. After months of reading, discussing, and researching the country, I was finally there. I could not wait to experience all the country had to offer.

Before I give you my experiences in South Africa, please allow me to introduce why I'm here. My name is Yvonne Gilbert and I am a current Evening MBA at the Kelley School of Business. I have a concentration of Marketing and Supply Chain Management. This is my last semester at Kelley because I will be graduating in May. When I first started at Kelley I only knew that I wanted to hone my marketing skills. Since then I have gained so much valuable experience from Kelley through different enterprises and consulting projects. These experiences will make me more valuables as a potential job candidate and stand above other applicants. I currently have my sights set on international experience, which brings me to the reason for this blog.

In the spring, I started taking the Emerging Economy class taught by Professor Marjorie Lyles. This semester the class focuses on South Africa. As the name implies, the course focuses on the emerging economies around the world. Previous classes have focused on Russia and Brazil. The first half of the class consists of studying the emerging economy of a country. We read different books and articles, watch documentaries, and produce papers about the economy. To supplement our learning, we have different speakers to talk to us on different aspects of the emerging economy. The second half of the class consists of seeing the country first hand. We will be visiting various businesses and government offices in the country to see how they operate in the country. The culmination of the class is a group paper centered on a specific issue relevant to the country.

I chose to take this class for various reasons. Here are a few:

• Companies are looking outside of the US for growth opportunities. Most of these opportunities come from emerging markets. Learning about different aspects of the emerging economy will allow you to be more marketable a potential employee.
• Getting international experience. We are able to learn about and from several international companies in South Africa. Being able to ask these companies about their strategies in different countries is priceless.
• Learning about different Cultures. I have traveled internationally before and I enjoy learning about other ways of doing things. You can always learn a thing or two from other people.
• Getting to visit South Africa. It's a beautiful country. I jumped at the chance to visit it.

Now that we have gotten all the introductions of myself and the class out of the way, the next blog entry you will see from me will be about my experiences in South Africa. Until next time....

I expected to use the skills I've acquired through four years of study in a new job. I hadn't expected these very skills to be so critical in the application process.

Three months ago, I applied for a job with Robert Bosch, LLC, the U.S. subsidiary of the German manufacturing giant. I first discovered the job on the Kelley Careers website, an incredible resource of job, internship, and interview postings open to all Kelley students. The job, very nearly my dream job, is a 24-month rotational finance development program called the Professional Development Program. Through four six-month rotations, the position allows the trainee to experience different functional roles in finance (cost accounting, product forecasting, internal auditing, etc.) while working in different regions and with different teams. I saw the job as an amazing opportunity to gain exposure to different functional roles before finding the optimal fit as well as a chance to see more of the country. With the resume and cover letter I'd created with help from the Career Placement office, I applied for the position. Like applying to a "reach" school, I had hope but little confidence.

A few weeks later, I was contacted by Bosch to set up an initial telephone interview. In addition to standard background questions, the interview was primarily behavioral-based. For those unfamiliar with the concept, behavioral-based interviewing seeks to understand the applicant by asking for examples from work and school of specific events and qualities. I had thought Kelley's insistence on practicing and role-playing answers to behavioral-based questions to be a tad excessive. I'm very glad that I was wrong. I answered maybe a half-dozen questions constructed as: "Tell me about a time that you did [something]" or "Tell me about a time you demonstrated [a quality]." The time spent in class practicing answers to questions very similar to this was immeasurably valuable.  

A few days later, I was invited to complete the next phase of the interview process: a finance case study. This is truly where I appreciated my education at Kelley Indianapolis. In I-Core, the integrative core classes when students take Finance, Operations, and Marketing together, I completed what seemed, at the time, to be an endless series of financial case studies. I lived and breathed in Excel for months, and I resented it. Now, serving as the gatekeeper to my dream job, I found myself staring down a case very similar to those my team and I had completed in the introductory financial management class. Scenario testing and cash flow analysis, concepts I had never even heard of prior to college, were the basis of my deliverable. So much of what we do in higher-level courses at Kelley is case-based. Not only does it allow us to learn from the real world, the skills we gain are incredibly applicable.

I met with my financial management professor and shared what I'd prepared. He made suggestions and provided the kind of mentorship and faculty insights that I've come to value from my Kelley instructors. Then, I submitted the case and waited.

A few weeks later, I received word that I'd made it to the final round. Bosch would be flying me out to Farmington Hills, Michigan to interview and present my case. The PowerPoint presentation skills I'd developed in many of my Kelley classes would be a major factor in whether I was able to attain the job I so dearly wanted.

The flexibility of my professors was invaluable in making preparations to fly to Michigan. Falling as it did the week before exams, the interview conflicted with a number of assignments and presentations in my courses. With enough notice and flexibility, however, all of my instructors were willing to work with me to ensure that I could both complete my assignments and make it to Michigan. Without their support, I would never have been able to get the job.

My time in Farmington Hills is nearly a blur. I was impressed by the quality of the other applicants, both undergraduates and MBA candidates, but working with the bright and talented students at Kelley had prepared me and I did not feel overly intimidated. A series of interviews preceded the presentation of my case study. I believe it was my case study presentation which truly set me apart. Rather than focusing strictly on academic concerns, finance education at Kelley mixes theory and practical application. My ability to focus on pragmatic concerns was appealing to the working professionals evaluating my work.

The final aspect of the interview process was a smaller case study, but built as a group assignment. Two other candidates and I had twenty-five minutes to read and present a mini-case.  Five or six company representatives, in HR, finance, and other disciplines, watched and evaluated both how we worked together and what we ultimately presented. I've heard students complain that too many classes at Kelley Indianapolis involve group work. As I sat down with two strangers to read and present the finance case, I silently thanked every single one of my past group members for the experiences I'd had.

I returned to Indianapolis excited and hopeful, but set thoughts of Bosch aside as I entered final exams. A week later, I received the call. I'd gotten the job.

It's so easy to take for granted everything we learn through our years at Kelley Indianapolis. Attending one of the top 10 business schools is a privilege, but it's more than a sense of honor and accomplishment. The education I've received at Kelly has prepared me in ways I never realized for what I hope and expect to be a bright and exciting future.

Hello all! I figured it would be necessary to formally introduce myself before I begin blogging without people knowing more than just my name.

My name is Dakota Deter, as you can see above. I was recently asked to be a Kelley BizBlog member; thrilled with this opportunity I gladly joined the team. A little background information on myself. I am currently a sophomore at the Kelley School of Business, and I am majoring in operations and supply chain management, marketing, while achieving the co-major in international studies. I would also like to pursue an economics minor during my career here at Kelley. As of now I have no plans for for pursuing my MBA, but am open to it if I feel the desire or need rising. As far as my plans after college I am open to whatever position is offered to me. With the economy as it is now I will not be picky in choosing a career.

On another note, I attended IUPUI Day of Caring all day Friday and had a spectacular time. We had over 550 students attending and went to over 20 different organizations for a day of serving. It truly was a blessing. I encourage anyone to participate. It is an annual event that comes around early every fall. My team went to FIDO (Friends of Indianapolis Dogs Outside) where we assembled dog kennels for anybody who needed them. The FIDO directors were speechless and so grateful for what IUPUI was doing. Congratulations IUPUI for another successful day of service!

Accounting Meet the Recruiter is always an important event for those pursuing an accounting degree or even finance degree.  A flock of top accounting firms and some corporations in the Indiana area come to this event looking for top students.  I was very fortunate to have only gone to this event once looking for a "career" my sophomore year, and hopefully, it will be the only time I have to.  

As you may know if you follow my blog even sporadically, I interned with Ernst and Young, a "Big 4" accounting firm, last summer and will be interning with them again Spring 2012.  I worked hard to establish a great relationship with the firm and developed some pretty intense firm loyalty, and when I offered to help at Meet the Recruiter, I was thinking I would help set up and hand out swag (or as Michael Scott from The Office say "Stuff We All Get").  It turned out that I did do those things, but also, I was going to speak to potential recruits and help recruit!  

I wasn't nervous in the sense that I wasn't comfortable answering questions people had.  I can spit out Ernst & Young facts just as good as any employee.  I was nervous about talking to fellow classmates who were looking to be part of the firm.  It's a fine line of a) (s)he is a friend, b) s(he) is a solid student, and c) I didn't want to seem biased.  It wasn't as bad as I thought it would be, but it was definitely awkward sometimes.  The most awkward/weird position I was in was when I talked to people in the Kelley MBA program or MSA program or people who have already graduated and were working on their CPA already.  They would ask about me, and I would respond with something like, "Oh, ... I'm actually only a third year undergraduate student."

Being on the other side created immense gratitude from within me and appreciation for my luck thus far.  I am sure that all my colleagues here at Kelley Indianapolis will find something no matter what though - considering we are one of the top 10 business schools.    

Well, the end of this spring semester signifies the 2/3 point for me... I am now 2/3 of the way through the evening MBA program.  It's been quite the journey - I almost can't believe I've even made it this far.  I definitely can't believe that I'm only one year out from completing the program.

I took three classes this past semester, which is a bit much, and I knew it would be a challenge, but I think I will actually pull it off with some decent grades, including at least one A (an A in this program has been a hard thing for me to obtain - there have been few!).  The Russia class probably took the most work, but was definitely the most rewarding in a lot of ways.  I learned a ton, had some amazing experiences, and made some long-lasting friendships, I think.  I'm looking forward to keeping in touch with these people for quite a long time.

As I start the summer before my last year in the program, I believe I have a better idea what I want to get out of it now.  When I started the MBA program and was writing my application essay, I knew that I was expected to talk about what exactly I wanted to do with my MBA, and honestly - I wasn't entirely sure.  I just knew that I didn't want to be a computer programmer stuck in a cubicle writing code every day for the rest of my life.  It's a great career, but I think I've grown out of it, as I know some programmers tend to do.  I wanted something more and different, and getting an MBA seemed like a good first step.  I've gradually learned more about business and more about what I enjoy learning about and doing as well.  I knew early on I would likely be a marketing major, but I wasn't sure exactly what I wanted to do.  Now, after seeing how much I have enjoyed traveling the last few years of my life and especially learning about the new countries that I have visited, I think I'm ready to go international.  I would love to use my marketing knowledge (and future marketing knowledge, as I take more classes and gain more experience) to help companies begin to market themselves in new global markets.  (I joked that my dream job would be helping to open new Apple stores in other countries, since I am such an Apple nut.)

As I try to figure out how to best pursue these goals over the next few years of finishing up the MBA program and figuring out what direction my career should go, I'm excited about the plans I have already... new contacts I'm making, classes I'm taking, endeavors I'm getting involved with.  Even though I have already fulfilled my international requirement for the program by taking the Russia class this semester, I now just want to take more international classes.  This summer I am taking International Strategy, as well as Global Marketing this fall.  I also plan on taking the Emerging Economies course again next spring; I'm looking forward to learning about another emerging market.  And, this summer (not as a part of the MBA program, just on my own) I'm actually taking a class to learn to speak Russian.  I've known for a long time it would be a good idea to learn to speak another language, but I just have had no real interest in the "common" ones to learn like French or Spanish.  I found what I learned about the Russian language so far pretty interesting, so I'm excited to find out more about it.

I highly advise anyone that's thinking about taking a new step in their life to push themselves to do it.  You may not know how it will turn out, but if you are committed to it, the things that happen along the way can be pretty exciting.  I'm so glad I made this decision to get my MBA, and I'm happy about the things I've already learned as well as looking forward to the unknowns of the future.

I could use this blog entry to write about all of the sights we saw in Russia, or about the business meetings that we attended, and I might do that soon too. But honestly, the entire experience of the trip had such an impact on me as a person that I'd like to talk about that first. It had an effect on me emotionally, personally, and professionally, and there are quite a few thoughts swirling around in my head about that now upon returning. One big reason I took the Emerging Economies: Russia class is because I love traveling and learning about and experiencing other cultures, and I saw this as one of the few opportunities I might have to learn about and visit Russia in this capacity. And now, especially after taking the trip and having that experience, I find it disappointing that more MBA students in our program weren't willing to do the same. Yes, it's a lot of money. But the trip and class as a whole really costs no more than a normal part-time MBA semester of credit hours here at Kelley. So, even if you have to take only this class one semester in order to pay for it, do it! It is well worth the expense many times over. And plus, there are also other ways to pay for it. Kelley offered a partial scholarship for it. I know that one of the other students that went used his work bonus to help pay for it, and I did that as well. But even if you think it's not affordable, there is always a way and I guarantee that if you make the effort to find it, it will be worth it in the end. The eight weeks in this class leading up to the trip were quite valuable. I really enjoyed taking the time to learn all about Russia - its culture, politics, food, history, etc - before visiting there. It made the actual trip and being there so much more valuable and meaningful. When we were ready to leave, we already had an idea of what Russia was like in our heads - now it was just time to experience it for ourselves. What I got out of the trip exceeded my highest expectations. I didn't really have too many expectations going in, honestly - I just tried to be open and take in whatever happened, which I think is the best way to go about it. Maybe it was just that attitude that caused me to feel differently than I might have thought that I would. One of the first things I felt the first few days of the trip was a sense of awe. I never traveled very much or very far in my childhood and even though I have been to a few different countries now as an adult, it was still kind of huge to me that I was in Russia. And on top of that, I was traveling with a group of successful adults and meeting with executives at huge multinational companies. It made my head spin just a bit. Once I adjusted to that feeling and accepted that yes, I was really there, I got quite a bit out of both the business meetings as well as the time spent out with people, both my fellow travelers as well as people we were meeting in Russia. The business meetings were very valuable and rewarding because we were getting to see the reality of doing business in Russia, what we had been researching for weeks. We saw both the perspectives of U.S. firms, some of which had been in Russia for quite a long time, as well as from Russian companies, both large ones and start-ups. It gave us a much more real sense of how things are accomplished there. It was also a really nice experience to meet the people that we had put ourselves in touch with in order to set up our meetings. That had been part of our challenges and preparation in the class leading up to the trip, to set up business meetings on our own in Russia to get information for our team projects. Spending time with those in our group and meeting new people in Russia was every bit as rewarding as well. Because the MBA program is part-time and most of the students either work full-time already or are full-time students in another program along with the MBA (we had both an MD/MBA and a JD/MBA along with us), sometimes that can make it hard to really spend time connecting with your fellow students. But there is no better way to connect than to go off to a foreign country with some of them for a few days! We all truly got to know each other very well and honestly, we really got along famously. I hope to continue to stay in touch with each and every one of the people on this trip and count them as friends for a very long time. I think that all of my fellow students that went on this trip would agree that we owe a huge debt of gratitude to both our professor, Marjorie Lyles, as well as our executive-in-residence for the class, Nate Feltman. You can tell that Prof. Lyles loves both doing work internationally as well as sharing her love of that with students. She truly has a passion for that which becomes very clear when you are on the trip experiencing it with her. Her fondness for her students and her pride in their dedication to the class becomes very evident and was a huge encouragement and support to us. And Nate brought exactly what we needed to our time in Russia. He has spent a few years over there as legal counsel and was just the link we needed to Russia. His love for the country is very evident as well and added so much to our trip. He was our translator and guide at times as well as friend. You tend to have professors and executives or professionals that are involved throughout every step of earning an MBA, but there are only usually a select few that end up being sought out as true mentors. I think Prof. Lyles and Nate should be warned that they have the potential to become that for any one of the eight of us students that visited Russia with them. I think that I could potentially say that all of us fell in love with Russia on this trip. The sights, meetings, people, experiences... all of it was enough to make all of us want to return at some point. A phrase that one of the executives in one of our meetings used that keeps coming back to me is "international American". I believe that is what is true about each of us on the trip that sparked us to go - a passion for learning more about other cultures and nations and wanting to make the world seem a bit smaller. I really hope that in our experience and in our sharing of it with others that we can prompt them to do the same and be international Americans as well.