MUM’s Ye Shi Named LEI’s 2013 Lean Accounting Student of the Year

Tabitha Dubois (right), LEI's Director of Finance and Administration, gave the Lean Accounting Student Award to MUM’s Ye Shi, and the Lean Accounting Professor Award to WWU's Dr. Audrey Taylor.

Fairfield, Iowa (PRWEB) October 25, 2013

Maharishi University of Management PhD candidate, Ye Shi (Linlin), was awarded the 2013 Lean Enterprise Institute’s annual Excellence in Lean Accounting Student Award during their Lean Accounting Summit this month in Orlando, Florida. The Lean Enterprise Institute (LEI) is a non-profit educational association, which recognizes students who have been actively engaged in research, education, and the development of Lean Accounting and accounting for Lean.
Andrew Bargerstock, PhD, CPA, director of MUM’s MBA programs, had nominated Linlin for this award based on her accomplishments in lean accounting. “We are very happy that Lin Lin’s accomplishments are recognized by one of the biggest names in Lean Accounting, James Huntzinger, in his role as the chair of the Student of the Year selection committee for Lean Enterprise Institute (LEI) and the Lean Accounting Summit.”
On September 23rd Jim Huntzinger, president and founder of Lean Frontiers, and author of Lean Cost Management: Accounting for Lean by Establishing Flow, notified Linlin of her selection as Lean Accounting Student of the Year. Huntzinger founded the Lean Accounting Summit in 2005, as well as produced many other Lean summits.
As to why she was selected, Jim Huntzinger said,

“Linlin was recognized as LEI Lean Accounting Student for 2013 due to her commitment to help others understand and develop a deep understanding of the new paradigm in Lean Accounting. We hope that she will continue to deepen her knowledge of this area and encourage more students and faculty to join the Lean Accounting adventure, and utilize her PhD research to both deepen and further her understanding of lean accounting.”

This award continues a pattern of recognition for MUM from LEI. Dr. Andrew Bargerstock was named Lean Accounting Professor of the Year in 2009, and Manjunath Rao was selected as Lean Accounting Student of the Year in 2011 for his PhD dissertation.

Linlin completed both the MBA in Accounting (2011) and the Post-graduate Certificate in Lean Accounting (2012) at MUM. In September 2013 she began her second year of teaching three of the two-credit courses in the Lean Accounting Certificate program.

In collaboration with Dr. Bargerstock, Linlin has developed case studies to illustrate how to implement kaizen methodologies to improve accounts payable processing. Linlin is currently taking coursework in the PhD program at MUM and expects to begin her dissertation next year.

Linlin is passionate about Lean, which she says is “the great strategic thinking that leads to true sustainable development. Lean accounting is an advanced way of articulating business through present and real financial numbers compared to the historical and sometimes misleading numbers provided by traditional accounting.”

Linlin says Lean enables better communication and employee engagement, and greatly enhances leadership. She adds, “It’s also a great illustration of how to do less and accomplish more, which is a fundamental principle of our university’s educational approach, Consciousness-Based Education.”

Linlin says she is thrilled and honored to be recognized as the Lean Accounting Student of the year. “I am grateful for the support from MUM, Lean Frontiers, LEI and IMA. I appreciate the guidance and support from Dr. Andrew Bargerstock and other mentors and friends. Without them, any personal development for me would not have been possible.”

The summit offered Linlin, and other participants, the opportunity to meet with elite academic lean professionals and business lean practitioners. “It’s thought provoking to hear the speakers from different fields articulating the Whys and Hows of lean accounting based on their empirical research and practical experience. To be able to talk to them face to face and exchange opinions during the open discussions was fantastic. Also, the Q&A session with the executive team from the renowned Institute and the rest of the speakers provided the practical solutions for any problems people may encounter during lean transformation. It was really exciting to learn the live examples and have the inspiring conversations.”

Included in Linlin’s award was a complimentary registration at the Summit and $500 towards her travel expenses.

Photos of LEI Award Winners are available at Tabitha Dubois (red dress), Director of Finance and Administration for LEI, gave the Excellence in Lean Accounting Student Award to MUM’s Ye Shi, and the Excellence in Lean Accounting Professor Award to Dr. Audrey Taylor, Professor of Accounting at Western Washington University.

Founded in 1971, Maharishi University of Management (MUM) offers Consciousness-Based℠ Education, a traditional academic curriculum enhanced with self-development programs like the Transcendental Meditation® technique. Students are encouraged to follow a more sustainable routine of study, socializing and rest without the typical college burnout. All aspects of campus life nourish the body and mind, including organic vegetarian meals served fresh daily. Located in Fairfield, Iowa, MUM is accredited by The Higher Learning Commission and offers bachelor’s, master’s, and doctoral degrees in the arts, sciences, humanities, and business. Visitors Weekends are held throughout the year. For more information, call the Admissions Office at 800-369-6480 or visit

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Bargerstock and Rao Publish Research Article in MAQ Journal

Dr. Manjunath Rao & Dr. Andrew Bargerstock

The Business Administration Department at Maharishi University of Management announces the publication of an article on an empirical study of accounting practices in lean manufacturing companies in the USA.  MUM researchers collaborated with the Institute of Management Accountants (IMA) on survey design and distribution.  The article by Dr. Manjunath Rao and Dr. Andrew Bargerstock entitled, “Do Lean Implementation Initiatives Have Adequate Accounting Support – The Debate of Duality,” was published in the Summer 2013 issue of Management Accounting Quarterly, a peer reviewed journal of the IMA.  Rao completed his Ph.D. in Management in May, 2013.  Dr. Bargerstock is Director of the MBA Programs and was chair of Rao’s dissertation committee.

The article describes the analysis of a subset of data gathered during Rao’s dissertation research. The study indicates that in this sample of mature lean manufacturing companies, the maturity of lean accounting implementation lags behind that of lean operations implementation, which may give rise to inadequate accounting support in lean initiatives. The survey suggests possible reasons for this inconsistency including factors such as enterprise resource planning (ERP) information systems that are traditionally programmed for standard costing even though lean accounting experts consider standard costing and variance analysis as wasteful, non-value added activities.

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Another Four MUM Teams Finish in Top 10 of CAPSIM Foundation Simulation

Four MBA teams from MUM finished in the Top 10 of 103 MBA teams who participated recently in an online business decision-making simulation.  This achievement marks the fourth consecutive year in which MUM’s MBA Accounting students have placed at least one team in the Top 10.  Two years ago an MUM team finished #1 out of 135 teams.  This year, MUM also placed the top two teams in this international simulation that finished in the six-month period ending July 25, 2013. Each of the 2013 teams are pictured below with their final percentile score and rank.

Baldwin Team, 99th percentile, Rank #1 (left to right): Chuang Huang, Yiyang Sun, Menghao Sun, Lin Long, Qi Wang

Chester Team, 98th percentile, Rank #2: Charles Njoya, Fon Ngando, Tenyah Kingsley Sikot, Abhishek Kumar, Pradip Shrestha

Andrews Team, 94th percentile, Rank #6: Bunsom Ly, Deepu Damodaran Namboothiri, Pakrigna Phai, Sneha Pokharel

Digby Team, 91st percentile, Rank #9: Hailemariam Zikarge, Yeabsira Tadesse, Anmar Ma'yoof, Tsion Mekonen

Erie Team, 67th percentile, Rank #33: Mark Nelson, Matthew Rees, Gregory Sarplah (back), Steven Lucero, Mekdes Hailekiristos

Qi Wang (Member of #1 ranked Baldwin team) stated that her team’s practice of meditation helped facilitate executive teamwork: “Because we all practice the Transcendental Meditation technique, we were able to maintain very broad awareness throughout the simulation even when we had to focus sharply on individual decisions. Also, we were able to engage in harmonious communications even when we were debating alternative decision possibilities. Our healthy team dynamics helped us to produce outstanding results.”

MUM students report their successes came from well-integrated decisions concerning product pricing, building customer awareness, product innovation, automation of production facilities, controlled expansion of capacity, cost control, training and development of personnel, and sound financing strategies.

The simulation results are scored based on formulas for both short-term and long-term performance metrics under the Balanced Scorecard concept with four perspectives: financial results, customer satisfaction, internal business processes, and learning & growth.  The total score earned by each team was the basis of comparisons to other MBA teams that participated in the Foundation Simulation during the previous six months.

US universities generally have the reputation of producing very good technical accountants who are not always very competent as decision-makers when they enter the workforce. This problem can be traced to traditional teaching methodologies that ask students to solve problems with well-defined answers. But, in the real world, business decision-makers face a complex world of uncertainties. The simulation provides an opportunity for students to practice teamwork behaviors such as collaboration, negotiation, and consensus-building.  In addition, the groups begin to think and act both strategically and tactically, like an executive management team in a dynamically changing environment with competitors.

At MUM, we adopted the Foundation Simulation to gain third-party assessment of the value of MBA education at MUM.  Now, after four straight years of “Top 10” finishes, we are delighted to see a consistent pattern of results that suggests our students will be competitive in the global job market.


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25 MBA Accounting Students attend IMA Meeting

On March 14, 2013, Dr. Andrew Bargerstock and 25 MBA Accounting students participated in Student Night activities with the Cedar Rapids, IA chapter of the Institute for Management Accountants (IMA).  The program began with a tour of the Frontier Co-op manufacturing plant in Norway, Iowa. Most of the plant operations involve processing and packaging of spices and teas. The aromas were divine! The tour was followed by a catered dinner and talks by members of the IMA who informed and encouraged students about the advantages of membership in IMA and taking the CMA examination. Accounting students from several area colleges attended as well as members of IMA and company officials.  Dr. Bargerstock was acknowledged for his recent articles published in Management Accounting Quarterly, the academic journal of the IMA.

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CAPSIM Success Highlighted in MUM’s Annual Report

The success of our MBA students in the 2012 national CAPSIM Foundation simulation competition, where all four of our MBA teams placed in the top ten percent, was among the outstanding achievements highlighted in MUM’s 2011-12 annual report.

Other highlights include:

  • an hour-long documentary aired in March 2012 on the Oprah Winfrey Network (OWN) after Oprah visited MUM in October 2011
  • 2012 commencement address by CNN anchor Candy Crowley
  • a new Sustainable Living Center that generates 5 to 50 times more power than it uses
  • more…

View the full University Report.

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IMA Meeting Results in Corporate Connections

In December 2012, Dr. Bargerstock attended a meeting of the IMA-Cedar Rapids, Iowa, chapter, where the main speaker was David Nuernberger, Tax Partner with Deloitte, a major CPA firm. Mr. Nuernberger discussed anticipated changes to individual and corporate tax laws coming during 2013. Through a question from Dr. Bargerstock, it was revealed that Congress will be considering the elimination of LIFO method of inventory costing as a way of collecting more tax revenues. Dr. Bargerstock pointed out that such a change would be consistent with USA’s move towards IFRS, which does not allow LIFO.

At the end of the meeting, Dr. Bargerstock met the speaker and discussed ideas about how MBAs with USA tax experience can apply for positions at Deloitte. Additionally, Dr. Bargerstock met Deloitte’s Regional Director of Auditing, who will introduce us to their regional recruiter. We are hopeful that these relationships will open new opportunities for MBA job placements.

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MUM’s Four MBA CAPSIM Teams All Finish in Top 10

Chester Team (left to right): Laxman Bhandari (Nepal), Visakha Ly (Cambodia), Enkhbat Byambaakuu (Mongolia), Phirada Khuon (Cambodia), Nan Cao (China)

Four MBA teams from Maharishi University of Management finished in the Top 10 out of 97 MBA teams who participated in the international CAPSIM Foundation simulation during the six-month period ending July 1, 2012.  As confirmed by Ron Duran, Professor Relations Representative at the Chicago-based CAPSIM Company, MUM’s Chester Team finished at the 97th percentile, the Digby Team finished at 95th percentile, the Baldwin team finished at 93rd percentile, and the Andrews Team finished at 90th percentile.  This performance marks the third consecutive year in which MUM’s MBA Accounting students have placed at least one team in the Top 10.  Other MBA participants in this year’s Top 10 included teams from Villanova University, University of Texas – Dallas, Drexel University, and Alfred Laurier University (Canada).

Digby Team (left to right): Gurmu Negeri (Ethiopia), Njei Akuro (Cameroon), Eshetu Debru (Ethiopia), Seka Ellepo (Ivory Coast)

The CAPSIM Foundation Simulation is a continuous event available on-line where participant teams are evaluated against all teams who have participated in the previous six months. Through the Foundation simulation, students gain the opportunity to practice integrated decision-making in a manufacturing industry across a wide range of management functions, e.g., product design, sales forecasting, inventory management, operations management, human resources, finance, and quality management.  The simulation results are scored on both short-term and long-term performance metrics based on the Balanced Scorecard concept which encourages development of organizational performance metrics across four perspectives: financial, customer, internal business processes, and learning & growth.

Baldwin Team (left to right): Xiaoxu Chen, Daina Zhang, Bo Wu, Yue Pan, Zhuo Jiang (all from China)

The simulation is a popular event among students in the MBA Accounting classes offered by Dr. Andrew Bargerstock, Director of MBA Programs at M.U.M. The students appreciate the opportunity to exercise their skills in executive decision-making and small group dynamics. Both strong analytical skills and informed intuition are valuable for simulation decision-making. The winning team reports its success came from a combination of good decisions about product pricing, building customer awareness, product innovation, automation of production facilities, controlled expansion of capacity, cost control, training and development of personnel, and sound financing strategies.

Andrews Team (left to right): Joseph Marquez (Philippines), Eliana Freeman (USA), Mila Zhang (China), Mokhlis Awad (Egypt)

Dr. Bargerstock states that “when our mostly international MBA Accounting students perform so well against some of the best business schools in North America, it validates the quality of our students’ skills in integrated decision-making.  This performance indicates a high level of preparation that our MBAs will bring to the workplace.”According to Dr. Bargerstock, USA higher education has the reputation of producing very good technical accountants who are not so competent as decision-makers. This problem can be traced to traditional teaching methodologies that require students to solve problems with definite answers. But, in the real world, decision-makers face a complex world of uncertainties. The simulation provides an opportunity for students to practice with the framework required for success in executive management.

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Congratulations 2011-2012 MBA Graduates!

Congratulations to the 55 graduates from all MBA programs at Maharishi University of Management during the 2011-12 academic year!

Thirty-four of these graduated as MBA with Accounting Specialization. During one of our graduation events in June 2012, 12 MBA Accounting graduates met with current MBA students on campus to share their experiences during their curricular practical training (CPT) phase of their program. A few students had received two promotions from the time they started CPT and a number of students reported that they had become full CPAs. Several graduates expressed that what they learned at MUM helped them greatly in their employment positions.

Below are the names of the 2011-12 MBA graduates:

Abigail Beyene Manish Rajbhandari
Addis Gebrehana Meeraf Mamo
Addis Gemeda Monica Tarrisse da Fontoura
Bei Liu Namrata Khadka
Belayneh Beje Narottam Shrestha
Benjamin Wyckoff Nisha Dahal
Bibash Aryal Paramesh Simkhada
Biniyam Gebeyehu Patrick Otang
Biran Saine Pradeep Pokharel
Caleb Prescott Rasy Chhoeuy
Caroline Fonvielle Rui Feng
Chanchal Goenka Samira Giri
Christopher Brooks Saujanya Bhattarai
Cooper Rose Selin Ozbudak
Dallas Terry Shamaraj Dewadas
Dan Bai Shashi SharmaSubedi
Daniel Feyissa Sheer-el Cohen
Dilli Thapaliya Shefali Koul
Dineshwor Shrestha Suraj Karki
Eyerusalem Haile Tamiru Hassen
Fasika Chefik Tamru Tefera
Ganesh Baniya Thineshkumar Kathirgamanathan
Gashaw Woldehanna Yemareshet Kebede
Hana Woldeamanuel Ying Liu
Hongbin Qin Yunxi Cui
Julee Mason Zengyu Yu
Kundan Karna Zhiyu Shao
Lu Li
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Most Outstanding Accounting MBA Graduate 2012

At the May 2012 awards ceremony at MUM central campus in Fairfield, Iowa, the 2012 Most Outstanding Accounting MBA Award was presented by Dr. Andy Bargerstock to Ganesh Baniya.

Photo published in Nepal's No. 1 daily newspaper, “Kantipur”, on September 22, 2011

Ganesh Chandra Baniya

Ganesh earned this award based on high GPA, professional accomplish-ments, and leadership skills. Coming from Nepal, Ganesh entered the program in June 2011. Previously, he had been an executive with a Nepalese airline company and had achieved CPA status in three countries. During this year, he earned a GPA of near 4.0 while demonstrating deep under-standing of Maharishi’s principles of MBNL. In our capstone business simulation where we compete with other MBA schools, Ganesh and his team finished #1 out of 135 MBA teams across the US and interna-tionally. Everywhere he goes, Ganesh brings a friendly smile, a keen mind, and the light of life. Congratulations!

Past winners of the AccMBA Outstanding Student Award include Dipesh Dahal (2011), Howlet Beshir (2010), Pravakar Dhungana (2009), and Oleksiy Levchenkov (2008).

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Bargerstock Presents on “Lean and Sustainability: the Perfect Partners”

On Tuesday, April 3, 2012, Dr. Andrew Bargerstock led a two-hour seminar for eight companies and public sector organizations on the topic of “Lean and Sustainability: The Perfect Partners” in Fort Madison, Iowa, as part of a Sustainability Circle consulting project for True Market Solutions ( ).  In this presentation, Dr. Bargerstock revealed the importance of Lean Management as a guiding philosophy for any seriously committed sustainable enterprise.  Without Lean, according to Bargerstock, the good work of sustainable business is incomplete, because the organization does not possess a comprehensive methodology for eliminating waste in all its forms.  The program gave the companies a taste of what it would be like to be part of a kaizen (continuous process improvement) team through a case study on streamlining an accounts payable process.   Feedback on this session was very positive.

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