Archive for the ‘Personal’ Category

I have accepted an appointment to the Zapara School of Business at La Sierra University in Riverside, California.

The contract term is two years.  My duties are those of a regular faculty member, to teach courses and conduct publishable research.

I am very excited about this opportunity.  La Sierra University is a Seventh-day Adventist institution of higher education.  As a member of the Seventh-day Adventist Church, this move is like a return home for me.

I start my research duties on July 1, and arrive on campus August 1.

Debit and credit – – David Albrecht

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Pic credit – Accounting Today

On September 7, 2012, the Accounting Today released its 2012 list of “Top 100 Most Influential People in Accounting.”  Professor David Albrecht (that’s me) made the list.  I was also named to the list in 2011.

Thank you very much, AT, for awarding me this tremendous honor.

I made the list for blogging on The Summa about IFRS, accounting education, and social media adoption by the accounting profession.  Last year I was recognized also for innovative teaching.

Pic credit – Accounting Today

Debit and credit – – David Albrecht

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I came to Concordia College in the fall of 2009.  It now is time to move on.

Coming to Concordia College for this three year period is one of the highlights of my life.  Three years ago, I needed a break from the large state university environment, because I felt broken from numerous political battles (see explanatory note at bottom).  Concordia offered a safe haven, a respite from the battles of a faster (but not better) track.  Not being completely foolish, I jumped at the chance.

Concordia College is devoted to the academic, social and cultural education of its students.  At this point in my career, student education and development are so predominant on my professional priority list, anything else has difficulty edging in.  So this part of the job has been a match.

So, why am I moving on?  My family and long-time friends are in Ohio.  Moving closer to the area is necessary for my personal health and happiness.  Also, I believe I better can explore the potential of becoming a social media savvy accounting professor in an increasingly small and social world.

About 99% of what I will miss are the students.  Some are brilliant, some aren’t.  But generally they are good and conscientious.  At Concordia there is a culture of studying that a majority embrace.  But more than studying for the sake of earning their grades, Concordia students are on a mission to prepare themselves for life.  And for many, the purpose of that life will be to help make the world a better place for others.  I admire and respect the people that come to Concordia as students.  Many are terrific human beings.  It has been an honor and privilege to teach them.

What has been a new experience for me is how closely I’ve come to know some of the students.  A majority of my students have taken two or three courses from me.  In very small classes with close interaction, developing personal relationships becomes an integral part of the learning-teaching process.  There are many to whom I can say, “I like you as a person.”    Some professors love their students, and I will miss Concordia’s in my heart.

I’m gratified that the relationships have been two way.  It has made many a day to receive a smile upon meeting, or a lingering pause upon parting.  Many of my students have said, “I hope you won’t forget us (me).”  Not a chance.

Ron Twedt teaching a class.

I’ll also miss the colleagues with whom I have the closest ties.  I don’t share lunch, and cookies, with just anyone.  Ron, Maggie, Jim L, Bruce V, Shawn, Oksana, Al, Bruce A, and Dan, I’ll miss you the most.

I leave Concordia a much richer person than when I arrived.  I bid you all a fond farewell.

Note: Woodrow Wilson was president of Princeton College prior to entering state and national government service as governor of New Jersey and President of the United States.  When asked why he would leave the ivy tower, he is reputed to have said that he did it to take a break from the intense politics of academia.

Debit and credit – – David Albrecht

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I am both proud and pleased to announce that I have accepted a position as professor of accounting at the George Dean Johnson, Jr., College of Business and Economics at the University of South Carolina Upstate, commencing with the 2012-2013 school year.


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Friend Bob Jensen has described this valentine as pretty bad.  My special someone won’t even thank me for it.  If you can come up with a better accountant’s valentine, please post it as a comment.  — profalbrecht.

Last year, I wrote, “An Accountant’s Valentine.”  Was it written for how I feel about accounting, or a someone special?  Can’t say.

I wrote another this year.

My love’s not like a red, red rose
That on Valentine’s runs amok
It’s more like a warm, warm breeze
Cuddling my summer ‘ammock.

As fully amortized tables
Eer keeps balance in its place,
The smiles of my true lover
Pulse from heart to face.

Business lacks a proper voice
Until it speaks accounting,
My heart spoke neer a word until
She heard my love’s accounting.

To accountants everywhere, happy Valentine’s Day.

With apologies to Robert Burns (A Red, Red Rose).

Debit and credit – – David Albrecht

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I’m an accounting professor in America, so I celebrate Thanksgiving on the fourth Thursday in November.

In earlier times, human societies celebrated at the conclusion of a harvest.  Economies have evolved from agricultural to manufacturing to service to information, so most of us have no direct connection to a harvest, anymore.  But in my part of the world, Thanksgiving is still celebrated by all.

For accountants, the inventory count is wrapping up.  We can scan the ledger for the past year, looking over the the journal entries of events both large and small.  For many of us assets still exceed liabilities.

I’m thankful for my family.  It carries the largest value on the asset side of my personal balance sheet.  Even accounting nerds can have them, and my family is wonderful.

I’m thankful for my career as an accounting professor.  After teaching more than 10,000 students, my retained earnings figure is the largest it’s ever been.

And I’m thankful for The Summa and its readers.  You magnify my comprehensive income.

Debit and credit – – David Albrecht


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Kelly Phillips Erb, the Taxgirl, has a blogging column about taxes at Forbes.  She is the consummate blogger.  Regular readers tune in because they’ve come to know, appreciate and love Kelly for the way she thinks about the world of taxes.  Sometimes, she writes about her love for Philadelphia sports teams.

On the other hand, I’m an Atlanta Braves fan.  I switched from the Cubs when their ace pitcher, Greg Maddox, signed with Ted Turner.  I’ve stayed a Braves fan for nearly two decades for two reasons.  They emphasize good pitching (and so do I) and win more than they lose.

Last night in the final game of the regular season the Braves lost to the Philadelphia Phillies, thereby losing the race for the National League wild card.  From a New York Times news alert:

The Braves completed one of the most historic September collapses in baseball, losing 4-3 to Philadelphia in 13 innings as the St. Louis Cardinals won the National League wild card  …  The Braves led the Cardinals by 10-1/2 games at the start of play Aug. 26. Since then, the Cardinals are 22-9, the Braves 10-20.

Kelly will be happy today, but I’m crying.  I’m also frustrated.

ProfAlbrecht's reaction to loss by Braves.

I’ll just have to keep reminding myself that there’s no crying in baseball.  I leave you with a clip of the best scene from a great movie, A League of Their Own:

Is there crying in accounting?

Debit and credit – – David Albrecht

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On September 13, 2011, the Accounting Today released its 2011 list of “Top 100 Most Influential People in Accounting.”  Professor David Albrecht (me) made the list.

Thank you very much, AT, for awarding me this tremendous honor.

I made the list mostly for blogging on The Summa, and partly for innovative teaching.

Debit and credit – – David Albrecht

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There is a possibility of my moving to a new school in a year.  My wife has already started cleaning out closets and basement.  It must be garage sale time!

When my stuff goes on the block, as it is later today, I get very sentimental.  Dozens of old jigsaw puzzles command their own table.  I remember every puzzle picture, having stared at it for hours when putting it together.  My aging eyesight now sentences each one to the block.

More painful is getting rid of sports equipment.  My younger son and I spent many summers together on the diamond and golf course.  Wonderful summers.  We had a large bucket of baseballs, and I would hit grounders to my favorite shortstop until he could flawlessly handle every hard shot or bad bounce.  I had another bucket of plastic golf balls for soft toss.

Our golf equipment is also on the block.  I remember buying his junior set of clubs:  two woods, three irons, one putter, bag and pull cart.  Walking down the fairway we’d hold hands.  The following picture could have been of us.

My stuff might be gone, but not the memories.

Debit and credit – – David Albrecht

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In my 32 years in the collegiate classroom, attending graduation ceremonies has never been high on my list of things to do.  I missed all three of mine.  They were scheduled on Saturday, and I observe the Saturday Sabbath, when working is a “Thou shalt not.”  In my years at Iowa, Virginia Tech, North Carolina-Chapel Hill and Bowling Green State, I didn’t attend because of the work-Sabbath conflict. Then I moved to Concordia  College (Moorhead, MN) and found that I had not the proper clothes to wear to its Sunday graduation ceremony.

It’s called academic regalia, and professors go all out.  Style has an important part to play, so does trying to one-up the other professors down the hall.  This year I borrowed a set of plain regalia and I surely felt out of place.  Professors were wearing gowns of every conceivable color.  Hoods can be colorful, too.  Tams are in, mortar board caps are out.  Gold tassles are absolutely de rigueur.  This stock photo of doctoral gowns does not capture the bright, colorful diversity out there.

This year I’m so glad I attended on May 1.   My first group of Concordia students graduated, and I am proud of every one.  Concordia seems to excel at putting on a graduation ceremony.  The floor of the athletic arena was sectioned into thirds.  Professors filed in, led by old-timers with much experience.  They took the front of the middle section.  Then the students filed in, lines left and right filling the sides symmetrically.  Proud parents and friends filled the seats on either side.  Here’s what it looked like.

After a speech by one of Minnesota’s senators, the task of reading off several hundred names commenced.  Here’s a photo of the college president handing out diploma cases.

Two days earlier, while I was proctoring my last final exam on Friday at noon, my younger son Chris was marching in his own graduation ceremony at the University of Michigan.  He received two masters degrees in music.  He is pictured afterward beside his proud mother.  A trumpeter, his graduate brass quintet played at graduation.

Chris Albrecht's pink hood signifies a degree in music.

Fast forward two weeks to today.  My older son Tom is graduating from Syracuse University with an MBA degree, specializing in finance and healthcare.  He says he should have majored in accounting.  I knew that all along, of course.  His graduation ceremony was scheduled for a Saturday.  The graduate dean of the Whitman School of Management, is pictured here handing Tom his diploma case on Friday in a ceremony for one.

Tom Albrecht's (center) brown hood signifies a degree in business.

Three graduations and they all were special.

Debit and credit – – David Albrecht

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Debits are left,
Credits are right,
When first I looked at you,
Love at first sight.

Roses are red,
Violets are blue,
Balanced ledgers have me
Thinking of you.

Unbalanced accounts
Are near misses.
Perfect, though, are
Your hugs and kisses.

Fraud makes me sad,
You make me glad.

Won’t you be my valentine?

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At this time of holidays and family, we at Profalbrecht (meaning me with all my hats:  professor, teacher, advisor, mentor, writer, accounting theorist, commentator, accountant, auditor), send you well wishes and season’s greetings.

Auditor’s Opinion
December 24, 2010

We have audited the accompanying greeting card of The Summa (the Blog) as of December 24, 2010.  The greeting card is the responsibility of the Blog’s management.  Our responsibility is to express an opinion on the greeting card based on our audit.

We conducted our audit in accordance with greeting standards of the Public Company Greeting Cards for Accountants Oversight Board (PCGCAOB). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the greeting card is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and sincerity underlying the sentiments expressed in the greeting card.  An audit also includes assessing the holiday greetings used and significant expressions made by management, as well as evaluating the overall greeting card presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the greeting card referred to above presents fairly, in all material respects, the holiday sentiments position of The Summa at December 24, 2010, in conformity with U.S. generally accepted greeting accountability principles (GAGAP).

We also have audited, in accordance with the standards of the Public Company Greeting Cards for Accountants Oversight Board (PCGCAOB), the Blog’s internal control over holiday sentiments as of December 24, 2010. Our report dated December 24, 2010, expressed an unqualified opinion thereon.


For an example of what a holiday greeting card for a law firm looks like, in all its legalese, click here.

Debit and credit – – David Albrecht

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