 “My father was an immigrant from

what is now Slovakia. Tey emigrated for several reasons but America’s opportunities for education were very high on the list. My father’s advice: ‘Remember education is the most valuable thing you can obtain. It is the one thing that can never be taken away from you. No matter how far you fall, no matter what happens, even if you lose all your worldly possessions, you will never lose the education you obtain.” —Tamara S. Brown, CPA, CPFO; Finance Manager; City of Stillwater; Stillwater, Okla. “When I was a teenager, one of my Christmas presents from my dad was shares in the local bank. My initial reaction was, ‘What do I do with this piece of paper?’ However, it was informative over time to: read the reports, get the dividend checks and go to the annual shareholder meetings. It was a learning experience to see how real businesses work.” —Zane Swanson, CPA; Professor; University of Central Oklahoma; College of Business Administration; Edmond, Okla.

“Te one and only [piece of] money advice my mom gave me was ‘If you don’t make it per week, don’t pay it per month.” —Harry Haddock, CPA, CGMA; Director of Finance and Administration; OSCPA; Oklahoma City, Okla.

“I think the best piece of advice is not to

live above your means, save money and look of r a source of residual income. I have tried to do all three and it works!” —Marvin Krueger, CPA; Owner; Marvin D. Krueger,



broad themes that should be included in ethics education: 1. Te responsibility of business in society;

2. Ethical decision making; 3. Ethical leadership; and 4. Corporate governance.

Tese four areas are widely viewed

by the task force as cornerstones of a comprehensive and viable ethics education curriculum in business schools.

26 CPAFOCUS May/June 2015 Te report of the task force stated:

“While many schools are already deeply involved in renewing and reinvigorating their commitment to ethics in business education, assessment and continuous improvement are as important in this field as any other. Making the world a better place isn’t the exclusive province of business schools; but business schools can, and want to, equip their students to be ethical and successful managers and leaders.” It is the responsibility of all to teach

and demonstrate ethics and values to the next generation. We believe it is a necessity. Martin Luther King, Jr. summarized it well when he said, “Te function of education, therefore, is to teach one to think intensively and to think critically. But education which stops with efficiency may prove the greatest menace to society. Te most dangerous criminal may be the man gifted with reason, but with no morals.”

Consultant; Tulsa, Okla. “My dad always told me to know how much I wanted to pay for a car before going to the dealership. Don’t take their ‘It will only be $350 a month’ line, but negotiate the best possible price before financing is even discussed. I’ve always listened and feel I have gotten good deals on vehicles. My mom was a bargain shopper and told me to always go straight to the clearance racks in the store. If you don’t find what you want there, then look for sales. Don’t ever buy clothing for full price. Wait a month and it will be half off.” —Julie Stewart, CPA; Sole Practitioner; Julie M. Stewart, CPA; Broken Arrow, Okla. “My mother, Peggy Kauffman, gave me financial advice by example more than the spoken word. She was a single mother raising three daughters but always made sure we had what we needed. She taught us to be patient and not spend money you don’t have. She would shop before Christmas and put things in layaway so that we would have presents under the tree. She taught me that there is no instant gratification and that you pay for things before you enjoy them. She would make payment arrangements with doctors, lawyers and the seamstress who made our pep squad uniforms. We would not expect to wear those uniforms until they were paid for. Her example served me well as I married and raised a family. We cut up our debit card when our first child was born (Can you imagine a professional without

a debit card?) and always pay our credit cards off every month. My mother taught me to use cash to pay for groceries and “extras” so that I always knew how much money was left until payday. I passed these same methods of cash management along to my own children. Now that the kids are grown and money isn’t as tight, we are a little freer with our money, but I will always remember what my mother taught me about how to lead a full life that is free of debt. Her advice by example has served me well.” —Debbie Mueggenborg, CPA; Partner in Charge; Stotts, Archambo, Mueggenborg & Barclay PC; Bartlesville, Okla.

References: “Many Parents Failing to Educate Children about Money”

http://journalofaccountancy.com/news/2012/ aug/20126206-financial-planning.html “Bad Money Lessons Parents Don’t Know Tey’re Teaching” http://www.cnbc.com/id/102571118 “Money Management Gap between Parents and Teens Shows Need for Eduication” http://www.huffingtonpost.com/jack-e-kosakowski/ money-management-gap-between-parents-and-teens- shows-need-for-education_b_6940406.html “Survey Reveals Startling Disconnect between Teens’ and Parents’ Views on Paying for College and Other Personal Financial Topics” https://www.juniorachievement.org/ web/ja-usa/news/-/asset_publisher/bDhKgc7S1q3z/ content/id/890057 “How to Build Your Kid’s Credit Score: Start in Elementary School” http://www.washingtonpost.com/news/get-there/ wp/2015/04/09/why-we-should-teach-third-graders- about-compound-interest/ “Parents Let Kids Learn about Money the Hard Way” http://corporate.troweprice.com/ccw/home/pressReleases/ pressRelease.do?pressRelease=/html/content/home/ pressReleases/pressReleaseContent/03252015.html