Education - Kelley School of Business: : Indiana University
James N. GrandorfClinical Professor of AccountingIndiana UniversityKelley School of Business(812) 855-2868; jgrandor@indiana.eduEducationBS in Accounting (Cum Laude); Indiana University (1963)MBA; Indiana University (1964)CPA – Texas (1965)Student ActivitiesInter-Residence Halls Association (now Residence Halls Association)Member of steering committee that combined the separate men’s and women’s organizations into one integrated organizationVice-PresidentPresidentJunior Class Vice-PresidentIUSA – three separate terms as an elected representative of the Student SenateMember of the steering committee that elected the first minority (Tom Atkins) as President of the student bodyRecipient of Little 500 scholarship all semestersGraduate Teaching Associate – taught 6 credit hours of introductory accounting each semester while studying for MBAAwards and RecognitionRecipient of award for outstanding service over several years to LIFEDesigns, an organization that provides services for seniors and people with disabilities across South-Central IndianaRecipient of Downtown Bloomington Economic Revitalization Award for many Kelley School of Business consulting projects for businesses and organizations in downtown Bloomington (2012)Recipient of the United Way of Monroe County Mary Alice Gray Award for Extraordinary Service (2009)Recipient of the 2007 IU Alumni Association President’s Award for service to the IUAARecipient of the 2006 Kelley School of Business Service Award for outstanding service to the school, the University, and the communityRecipient of the 1991 Thomas J. Hennessy Residence Halls Alumni Award in recognition of outstanding achievement in professional endeavors, and in recognition of ongoing support for the objectives of the RHAANominated for 2010 Trustees Teaching AwardNominated for 2007 Kelley School of Business Panschar Teaching AwardProfessional ExperienceExxon Company, USA, Houston, TX (1964-1968)Systems Analyst – Designed and installed new computer systems. Interacted with clients to develop systems to their desires and specifications. Developed innovative linkages of computer systems for more automatic running of financial accounting systems. Experience gained was valuable throughout my career as I continued to develop enhanced and innovative systems to simplify and improve quality of work. Financial Analyst, Refining Department – coordinated development of financial budgets and forecasts, and consolidated and analyzed financial information. Designed and installed financial system for new refinery which started up while in this position. Exxon Corporation, New York, NY (1968-1972)Financial Analyst, Corporate Headquarters – coordinated development of financial budgets and forecasts, and consolidated and analyzed financial information. Assisted in preparation of year-end financial reports and company annual report to shareholders. Developed the first computerized spreadsheets (replacing manual) to facilitate year-end closing. Key participant in the conceptual design and development of an Exxon worldwide financial reporting system.Exxon International Company, New York, NY (1972-1975)Section Head – coordinated development of financial budgets and forecasts, and consolidated and analyzed financial information. Manager Supply Accounting – responsible for all supply accounting matters, including financial analysis and reporting for several Middle East trader companies, billing of international crude oil shipments, and coordination of crude oil shipments with the Tankers Division. Conceived various innovative computer systems to integrate accounting and operating systems (integrating data from operations directly into the financial records). Esso Inter-America, Coral Gables, FL (1975-1977)Assistant Controller – responsible for all Controller operations, including consolidated financial analysis and reporting of Exxon’s Latin American operations. Traveled extensively to Latin America to coordinate better accounting practices. Reduced own operating expenses by 25% while transaction volumes increased 50%. Improved timeliness and accuracy of the reporting of financial results.Esso Singapore Private Limited, Singapore (1977-1980)Deputy Managing Director (Assistant General Manager) of this affiliate, which included a 190k barrel per day export refinery, local and export marketing, and a fleet of twelve tankers.Developed and oversaw a $250M refinery expansion program. Conceived many innovative refinery and tanker operations ideas resulting in several million dollars of profits.Represented Exxon in discussions with Singapore and US Government officials on policy discussions concerning crude allocation methodology during a shortage crisis, in negotiations concerning allowable pricing for motor gasoline and diesel fuel, on a government proposal to build offshore docking facilities that would have severely impacted Exxon’s operations, in discussions concerning feedstock for a government/Japanese joint chemicals venture, and on numerous other matters.Singapore National Wages Council. Appointed by the Prime Minister of Singapore (Lee Kuan Yew) as the first non-Singaporean member of this tripartite (government, union, business) council responsible for Singapore national wages policy. Singapore Vocational and Industrial Training Board. Appointed by the Prime Minister of Singapore (Lee Kuan Yew) to this school board, which is responsible for developing vocational-technical programs consistent with long-term Singapore economic development strategy.American Business Council of Singapore. Vice-Chairman of this chamber of commerce type organization. Maintained regular contact with various Singapore Government officials and other American business leaders in Singapore. Exxon Company, USA, Houston, TX (1980-1983)Assistant Controller Financial Analysis and ReportingInstituted numerous forecasting and reporting improvements in this $2.5 billion annual profits organization, resulting in the capability to track profit results on a real-time basis. Achieved 99% profit predictability.Resolved a significant difference of opinion between the President of the company and the external auditors, in which the auditors were going to issue a qualified financial opinion on the consolidated financial statements for the annual report.Introduced the use of personal computers including a local area network in the financial function, the first such operation in Exxon. First unit in Exxon to have 100% of staff with a personal computer. Significant productivity and analysis improvements resulted.Introduced corporate credit cards for business travel – the first Exxon affiliate to do so.Exxon Research and Engineering Company, Florham Park, NJ (1983-1997)Controller and Treasurer, Manager of the Financial Department. Responsible for all financial functions including controller’s, treasurer’s, purchasing and contracting, internal control, financial systems, incentive processing, and HR systems.Integral member of the senior management team. Worked closely with senior management to use financial information to enhance the effectiveness of the organization. Revamped policies and procedures to benefit the overall management of the company.Reduced costs and achieved budget and effectiveness objectives every year. When assigned additional responsibilities in 1992, proceeded to reduce expanded staff from 115 to 50, and costs by over 50% through various innovative financial and systems enhancements. Financial costs were at a world-class level.Conceived the Procurement Card concept for the purchase of low value materials and services. This concept is now widely used by all major corporations throughout the world. Procurement cards introduction was one step in establishing a modern integrated purchasing/ contracting organization including purchasing, receiving, inventory control, and payables. Established an employee online purchasing system, a forerunner of online Internet ordering. Responsible for Business Ethics and Business Practices in ER&E. Developed and implemented all aspects of basic bidding guidelines, gifts and entertainment policy and guidelines, business ethics, and conflicts of interest policy. Provided employee training programs, investigated incidents, and determined disciplinary actions. Dealt with any infractions in a firm and decisive, but fair manner. Strengthened controls. Proactive in enhancing all aspects of financial, systems, environmental, and operating controls. Developed modular training program for use with employees, including senior management. Introduced many leading edge control concepts through risk analysis and cost benefits techniques.Highly respected for advice on Delegation of Authority questions, proper financial controls, accounting guidelines, treasury and foreign exchange matters, and tax matters. Introduced many corporate-wide cost savings and innovative computer systems. Examples include leading a project to develop options for space utilization effectiveness, achieving $100M reduction in property tax valuations, developing an innovative world-class on-line time reporting and billing system, conceiving an innovative intra-company billing system, and revamping travel policy for better accountability and cost savings.President of Exxon Technology Holding Company and Jersey Nuclear-Avco Isotopes, Inc. (1992-1997). Reduced Exxon’s contingent liabilities as they relate to its former nuclear operations, licensed certain of its remaining technology, and generally insured that these operations continued to remain a viable asset for Exxon.Vice President and Director of Exxon Services Venezuela and Exxon Services Company. Managed the Caracas administrative office from 1988 until 1995, before merging it into the Chemicals operation. Increased efficiency and the cost effectiveness of these operations, resolved several audit and tax claims, streamlined and strengthened banking relations, advised on contract terms for our relationship with various Venezuelan oil companies.Provided guidance on business strategy and financial guidelines on shared research agreements, an energy conservation project, various lab consolidation and efficiency projects, third party receivables collection strategy, various internal and external billing structures, and many other business strategies. Brought third party receivables to a current position, collected many old open accounts that were considered uncollectible.Provided financial advise for various property and facilities activities, including developing strategy for and participating in successful negotiations for sale of two parcels of property, developing leases with third parties for spare space, and reducing facilities operating costs.Developed procedures for year-end carry forward billing of cost over/under runs, resulting in better management of research and engineering operations at year end, and better cost management practices. Sold concept to Tax and Exxon’s independent auditors.Advised and assisted ER&E’s London engineering office on various operating issues, including rent negotiations, UK Inland Revenue tax issues, corporate structure, delegation of authority guidelines, billing rate guidelines, and controls awareness.Indiana University Kelley School of Business, Bloomington, IN (1998-Present)Clinical Professor of Accounting.Managerial Accounting and Cost Management, primarily for seniors and students in the Graduate Accounting Program. Heavy course focus on business ethics/conflicts of interest, effective controls, accounting in real-world situations, basic understanding of cost drivers, best practices (cost control and effective cost management), project management, and a balance between work and personal life. Classes are case oriented.Faculty coordinator / advisor for Graduate Accounting Program Consulting class undertaking consulting projects for local businesses. Mentored 8 to 12 teams each fall semester from 2005-2008. Teams placed first and second in 2005 John Deere case competition, first (tied) and third in the 2006 competition, and captured all three places in 2007 and 2008 (out of 20 teams). Beginning in 2009, I took over full responsibility for the program, mentoring 16 teams each fall semester. Teams again captured the first three places in the now BKD competition in both 2009 and 2010.Since 2011, I have mentored between 21 and 26 teams each fall semester. My teams have again captured all three places in the BKD case competition every year.Bloom Magazine ran a feature article on this effort, and my participation, in their December 2010 / January 2011 magazine.During the spring semester network with local business, IU organizations and departments, and non-profit contacts to develop 22 - 34 new projects for the fall semester.Beginning in 2009 teach Financial Accounting in the Kelley School / Sungkyunkwan University (SKKU) Global Business Administration MBA Program.Deloitte & Touche Case Competition Advisor six years. Mentored a team each year in this now discontinued annual Deloitte case competition. Teams placed in top three every year, with two first place teams.Ethics forum panelist; presenter on “This Week in Business” television program, panel participant in Graduate Accounting Programs International Forum; and presentations to Indonesian Student Association, Beta Alpha Psi, Delta Sigma Pi, and Civic Leadership Development students. I typically participate in one presentation/panel discussion each year. Kelley School of Business Faculty Review Committee (2008-2009)Accounting Advisory Group member (1998-present).Alumni Relations Committee (1998-2005).Senior Lecturer Review Committee (2006). Graduate Accounting Policy Committee (2007-2009).Business Placement Office – student mentoring program advisor (1998-present).Developed program for an Accounting Department Doctoral Student Fellowship.Regular participant in all departmental events (Beta Alpha Psi recognitions, dinners with accounting firms, Graduate Accounting Programs, some research seminars, etc.).Deere & Company – established initial departmental contact with Deere leading to their participation in the Accounting Advisory Group, development of a specialized Deere/IU MBA degree, a Deere Faculty Fellow Program, and other regular participation in IU Accounting activities. Periodically represent the Accounting Department at intern presentations at Deere headquarters in Moline, Illinois.United Way Campaign Team Captain for the Kelley School of Business, (2002-current). Contributions and the participation rate have increased steadily every year. Both contributions and participation were at a record level for the most recent campaign, and significantly increased from prior years. This reflects special enhanced email and other communications efforts the past few years. Several very positive comments have been received regarding management of these campaigns. Some examples include:Tricia McDougal – “These emails are just an excellent idea. I don't remember a campaign having ever been run so well.”Jeanette Heidewald – “Wow, Jim. That was the most well-written appeal for contributions that I have ever read. Your message was positive, encouraging, detailed, and audience-centered. You persuaded me!” Megan Miller, Campus United Way Campaign Coordinator (2005) – “I wanted to send you a quick email to thank you for everything you did this year for the United Way campaign. I really appreciate all of your hard work and creative thinking. You helped out a lot and I appreciate your support and guidance throughout the year!”Kristen Schwendinger, Campus United Way Campaign Coordinator (2006) – I certainly understand how integral you have been to the success this campaign, and very much appreciated your guidance.Barry Lessow, Executive Director of Monroe County United Way – “Appreciate all your help with the campaign.?Your ideas and execution are making the difference.”Recognized by several students over the years as “favorite professor” for various campus student government, athletic, and fraternity/sorority recognitions.Indiana University Service Faculty representative to the IU Promotions Committee (2013-2015) Faculty representative to the Student Transportation Committee (2009-present)Faculty sponsor for certain students conditionally admitted to IU because their high school academic performance is below the faculty / Trustee admission standards. Frequently these are persons offered an athletic scholarship, but there are also other students whose family has close IU ties. SPEA Lecturer Search Committee – Member of this committee to search and screen for a person for a clinical/lecturer teaching position at SPEA. Selected by the SPEA Dean to provide an external viewpoint to the school (2009-10).Maintain regular contacts with senior University officials (Michael McRobbie; Mary Francis McCourt; Fred Glass and Scott Dolson (IU Athletics); Curt Simic and Dan Smith (IU Foundation); JT Forbes, Erin Zody, Debbie Lemon, and other senior officials (IUAA); Bruce Jacobs and Pat Connor (Auxiliary Services); Doug Booher (IU Auditorium); and Dick McKaig (former Dean of Students)These contacts have led to several of the A569 Kelley Consulting projects mentioned above and other assistance to the UniversityExecutive management contact for Exxon Corporation for IU. This included being the point person for all recruiting at IU as well as for Exxon philanthropy activities at IU. Met regularly with the IU President, the President of the IU Foundation, the President of the IU Alumni Association, the Dean of the School of Business, and other senior university officials. Exxon was given a President’s Circle award during this period.Co-Chair for New Jersey for the Campaign for Indiana (fund raising) and member of other task force/committees of the IU FoundationMember of the President’s Circle in recognition of philanthropy activities to IUSingapore Students Association – faculty advisor (2002-present)IU Alumni AssociationKelley School of Business Alumni Association – board member (1992-1998)IUAA Executive Council – member (1995-1998)IUAA Finance Committee – 2011-2013). The Audit, Dues, and Investment Committees were merged in 2011 to form the finance committee. Chair of Sub-Committee to look at how IUAA should manage their Investment Portfolio. Recommended turning this portfolio over to the IU Foundation as it is not a core function for IUAA.IUAA Audit Committee – chair (2004-2011)Advise on various policies, including conflicts of interest, chapter financial controls, financial statement comparisons, etc. Have drafted a completely revised sent of policies and procedures, which are waiting for final review and approval. IUAA Dues Committee – member (2003-2011)Offered several suggestions (now implemented) on changing the dues structure, including special life membership rates for seniors and new graduates. Helped focus dues discussions around how dues should enhance the IUAA mission and strategy rather than just raise revenue.IUAA 2005 membership summit – special invitee (only non-IUAA person invited).Special Advisor on accounting matters in addition to those brought up in audit committee chair role (delegation of authority, conflicts of interest guidelines, etc.). Faculty advisor for eight A569 Kelley Consulting teams for IUAA. Team recommendations have either already been implemented or are in an implementation stage.Woodburn Guild – Board member (2007-2010).Life member since munity Service and ActivitiesUnited Way of Monroe CountySearch committee for a new Executive Director – member (substituting for Kirk White when he was called to active duty in Afghanistan).Vanguard Leadership Effort – chair (2007-present). I have aggressively worked to increase overall community contributions. This has entailed working with the United Way office as well as community leaders. Vanguard contributions to the overall United Way campaign have continued to increase, even with the difficult economic situation of the past few years. Community Vanguard contributions again reached a record level this year. Total IU contributions have increased over $200,000 in the past four years to a record $853,000.Stone Belt, ARC – member of the Finance Committee (2005-present). Strategic Indiana Providers Network – special advisor for strategy and financial matters (2015-present)Developmental Services, Inc. – special advisor for strategy and financial matters (2015-present)Greater Bloomington Chamber of Commerce and Downtown Bloomington, Inc. – special advisor on downtown parking meters concerns. Advise on development of surveys and analyze results relating to parking meters in Bloomington. (2012 – present)Exxon Research and Engineering. Member of the United Way Executive Committee for 11 years (Chair for three, record level of contributions achieved in every year).First Call for Help (Morris County, NJ United Way Agency). Trustee and Treasurer. Developed investment policy and strategy.Industrial Research Institute. Developed investment policy and strategy. United Way of Tri-State (Metropolitan NYC). Member of Pensions Subcommittee, which developed investment policy and strategy for this agency.United Way of Tri-State Task Force on Documentation of Stewardship of Participating Local United Ways. Helped develop and analyze new stewardship reporting.United Way of Tri-State Finance Committee (Alternate member). Participated in analyses of financial condition and financial policies.United Way of Morris County (NJ). Full-time volunteer for one year between retiring from Exxon and before joining IU. Worked with companies to develop their campaign. Professional OrganizationsFinancial Executives International – member and participant in local meetings and seminars, keep accounting faculty and doctoral students apprised of FEI developments through dissemination of newsletters.Officer of FEI Houston Chapter.Recipient of a 25 year FEI service award in 2005.American Accounting Association – attendance at annual convention and participation in relevant continuing professional education and other seminars that will enhance teaching.American Institute of Certified Public Accountants – member. PersonalMarried, with three grown children and seven grandchildren. Interests include golf, photography, volunteer work, music, and theatre. ................
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