EDUCATION May Wang The University of Texas at Austin (09/2003-05/2008) Professional Program in Accounting MPA - Master in Professional Accounting (Area: Financial Reporting and Assurance) BBA - Bachelor of Business Administration in Accounting PROFESSIONAL CERTIFICATE CPA - Registered and licensed in State of New York PROFESSIONLAL EXPERIENCE Teaching (Fall 2014 to Present) Accounting Department - McCombs School of Business - Austin TX Lecturer ACC 326 - Financial Accounting Intermediate To prepare and teach the course to achieve the following learning objectives: providing sufficient conceptual understanding of current generally accepted accounting principles Applying current principles to issues, problems - solving and situations involving understanding and recording of transactions and preparation of financial statements Developing skills and knowledge to critically evaluate financial statements of an economic entity, to reveal the sustainability and the quality of its earning as well as its financial condition, and to be aware of the impact of the integrity of financial reporting on the efficiency of capital allocation Developing students capacity to consider the larger context of financial reporting (beyond rules and procedures) and to raise students awareness of the changes and the joint effort of IASB-FASB convergence Preparing students for their future career in an organization where fundamental understanding and interpretation of its accounting information, communication of financial reporting, and decision-making based on an entity s financial information are essential for a career development Sharing working knowledge from the financial service in the areas of financial reporting, the fund accounting, investment accounting, and financial products ACC 311 - Fundamentals of Financial Accounting To prepare and teach the course to achieve the following learning objectives: Understanding the nature and purpose of accounting for the business with emphasis on the business entities corporation for profits Fundamental knowledge in financial accounting principles and methods which are used as an orderly means of recording, classifying, and presenting useful information from a mass of data derived from transactions and events affecting businesses Learning the basic language of business as represented by business and accounting terminology and the concepts and standards underlying the measurements, classifications, presentations for preparing the financial statements of a business entity McCombs School of Business Accounting Department Lecturer May Wang - Page 1 of 7
Developing a knowledge base to use and interpret financial statements which are prepared for users external to businesses (i.e., owners, creditors, government and investors) Developing solid understanding of how financial statements reveal a business entity s performance, quality of earnings, financial position, and sustainability of the business Sharing working knowledge from the industry experience in financial service and enlightening students to become aware the significance of understanding and interpreting financial reporting information ACC 362 Auditing and Control To prepare and teach the course to achieve the following learning objectives: After studying the course, students should have solid understanding of objective of external auditing and its role in meeting market demands for reliable financial information Guiding students through the course to build concepts, theory, and case analysis skills in some significant areas of auditing, such as the risk of fraud and mechanisms to address fraud, internal control over financial reporting, professional liability and the need for quality auditor judgments Teaching students through case studies, class discussion and research to build knowledge and skills in their understanding and application in topics such as, professional auditing standards, audit opinion formulation, gathering sufficient and competent audit evidence, and fundamentals in planning the audit Developing students ability to understand and significance and competence required for providing audit reports on financial statements Sharing working knowledge and industry experience in the areas of auditing financial service clients, such as private equity fund and hedge fund clients Helping students to be aware of critical skill set and competence demanded in the financial service and auditing profession with my industry experience in both the public accounting and the private sector to PROFESSIONLAL EXPERIENCE Financial Service (2008 to 2013) Apollo Global Management Alternative Investment Credit Fund Group - New York, NY Senior Fund Accountant Working on fund accounting with a top 10 private equity/hybrid funds, learning about trading activities, credit markets, derivatives products and monthly closing process, exposure to accounting aspects of financial products such as bank debts, corporate bonds, total swaps and forwards contract Initiating and preparing detailed documentations on the monthly closing process and journal entries that contributed to monthly closing process Preparing year-end financial statements and footnotes; ensuring accuracy of financial statements with supporting workpapers; updating footnotes such as level 3 investments rollforward, financial highlights and subsequent events Preparing partnership capital and P&L allocations, monthly closing packages and journal entries through GL system, VPM, reviewing capital call and distribution notices and verifying capital account statements for periodic investor reporting McCombs School of Business Accounting Department Lecturer May Wang - Page 2 of 7
Responsible for daily cash and trades reconciliations for multiple entities from trading activities (purchase of investments, return of capitals, paydowns, reset of TRS) and from partnerships cash activities with prime broker Goldman Sachs and JPM Reviewing monthly closing package, monthly accruals and management fee calculation prepared by the fund administrator Responsible for daily fund accounting activities including reimbursement, payments for fund expenses, wire transfers, and intercompany transaction updates, monthly accruals and adjustments, fund expense budgeting and various requests Reviewing quarterly marketing reports for funds performance; verifying reports with partnerships books for total returns, portfolio appraisals, NAV, and cash positions; preparing quarterly AUM updates to management company Preparing funds monthly closing workpapers; booking all JEs including accruals, invoices paid, reimbursements, prepaid management fees, distributions, and adjustment entries through GL system; performing rollforward partnerships allocations for P&L, distribution and contribution to arrive at ending NAV; comparing GL reports to monthly workpapers for accuracy Reviewing distribution and contribution notices; verifying partners capital account summaries quarterly and ensuring correct allocations of P&L, contribution, distribution and ending capitals Responsible for daily cash reconciliations and classification for cash transactions from daily trade activities, paydowns, interests, and expense payments; ensuring proper cash transaction types for monthly allocation Working with the fund administrator and reviewing its monthly closing packages including accounts balances, partners allocations, TBs, management fee calculations; communicating with administrator to solve issues and breaks Working with operation team for daily cash and trade reconciliations, for profile position confirmations, for monthly closing process, and for problem-solving, such as cash and trade breaks, and incorrect accrual interest calculations Cooperating with management company for reimbursements, paying invoices, and clean-up of intercompany transactions Reviewing trade settlement documents and ensuring proceeds, gain/loss, accrual interests, delayed compensations were calculated properly; preparing wire instructions for trades settled and for all payments related to funds expenses Reviewing, updating and providing the fund performance and returns information to the management company for its marketing and reporting to investors Demonstrating strong communication skills to work with others, commitment and diligence to meet deadlines, motivation and discipline to learn the unknowns, and positive outlook in face of challenging tasks and tough deadlines McCombs School of Business Accounting Department Lecturer May Wang - Page 3 of 7
Lindsay Goldberg Private Equity Fund - New York, NY Senior Fund Accountant Developing understanding of partnership/fund accounting, fund activities, financial reporting by working on a PE fund with $10 billion committed capital investing in joint ventures and buyouts domestically and globally Fulfilling accounting duties for maintaining multiple partnership books, records and journal entries through the private equity general ledger system Investran Preparing and reviewing fund accounting transactions, workpapers trial balance, and general ledgers for closing partnership books Preparing quarterly financial statements and yearly audited financial statements and footnotes for multiple partnerships and Providing reporting and communication with Investor Relations Preparing partnership capital account rollforward and capital account summaries for quarterly and yearly investor reporting and ensure the accuracy of capital account reporting for each limited partner Performing capital call allocations, reviewing capital call notices; tracking capital call funding with bank reconciliations and concluding the capital call activities with a report summary to senior management Performing distribution waterfall/allocations, reviewing distribution notices, preparing wire transfers for distributions, and coordinating with Investor Relations for tracking and confirming the distribution Performing management fee calculations according to the partnership agreement, tracking all cash flows from investors to the Fund, and transfer management fees to the management company Performing investment rollforward allocation quarterly and yearly for accurate allocations of invested capital to date for both general partners and limited partners, tracking investment and distribution activities for the Fund, and providing calculation on return on investment Managing fund cash movements and preparing cash reconciliations and analysis to ensure components of cash balances and to keep track cash position for the Fund Preparing fund s accrual schedules, budgeting schedules and payable schedules, making adjusting entries for the accrual schedules as needed, and tracking the expenses for the Fund Responsible for fund s daily accounting such as fund expense allocation and payments, wire transfers, advances and reimbursements with the management company, update of payables, receivables and status of outstanding capital calls Assisting the external auditors with requested documents, confirmations and workpapers, addressing the auditors inquiry, and facilitating yearly auditing process for the Fund Assisting tax team with partners tax preparation, providing P&L and the partnership capital allocation schedule for the tax team, communicating with the tax team for the partnership yearly activities Demonstrating detail, precision and quality of maintaining partnerships books, proving record of internal drive, commitment, accountability and team work to meet tough deadlines, and providing the Fund s accounting information, investors information requested by senior management, investor relations and 3 rd parties McCombs School of Business Accounting Department Lecturer May Wang - Page 4 of 7
Ernst & Young LLP - Financial Services Office - New York, NY Senior Associate Asset Management Communicating with client-side CFOs, Controllers and senior fund accountants to inquire and evaluate internal control processes over financial reporting and working with clients to gain understanding of procedures, processes and financial transactions for financial reporting Performing narratives, walkthrough, tests of internal controls over clients significant processes including trade process, revenue recognition process, and financial statement closing process for hedge fund, management company, and private equity fund clients Developing an understanding of audit considerations for significant balance sheet and P&L accounts, existence and valuation of investment, investment strategies associated with hedge funds and private equity funds Learning partnership economic allocations of capital contributions, P&L, and management fees calculation, reviewing partnership agreements and perform economic allocation of partners capital, management fees and incentive fees to ensure compliance with capital commitment requirements and with partnership agreements Preparing audit schedules and reconciliations and obtaining audit requests and preparing client/audit team correspondence and reviewing accrued expenses and revenue recognition process for corporate accounting clients Performing general ledgers and financial statements analysis over periods to identify changes of significant accounts, to evaluate financial conditions of clients over periods, to plan an effective audit procedures, and to assist auditing process Assisting teams in preparing financial statements and footnotes and verifying TBs with audited schedules and documents and assisting engagements in preparing financial statements by 1) ensuring that all account balances were supported by audited schedules and documents; and 2) verifying proper disclosures in footnotes Taking a role as an acting senior on a challenging engagement with tight deadlines, leading the engagement to solve pressing issues, to obtain audit requests from the client, to work with the client for understanding the client s quarterly closing process, to provide instructions to oversee staff, and to meet the deadline for issuing financial statements Preparing client correspondence for engagements including engagement letters, management representation letters, legal representation letters, and preparing written communication for audit teams Assisting auditing teams in researching accounting pronouncements and technical issues and preparing written communication to support audit positions Learning and being exposed to certain financial products, such as, fixed income (including TIPS and Repos), equities (long and short positions), forwards, futures, options, rights, warrants, interest rate swaps and credit default swaps Assisting human resource and recruiting team with recruiting events as a UT alumna McCombs School of Business Accounting Department Lecturer May Wang - Page 5 of 7
Ernst & Young LLP - Financial Services Office - New York, NY 01/2007-03/2007 Internship Asset Management Assisting a team manager in planning year end audit for a hedge fund client and communicating with the client about audit inquiry, audit requests Communicating and working with the client for timely tracking the audit progress, for coordination of meetings with the client Working with the manager and the client for pressing issues and pending items Performing cash reconciliations, investment position reconciliations and capital allocations to ensure the accuracy of cash balances, holding positions and capital balances for financial reporting Tracking the engagement work hours and helping with the manager with the budget PROFESSIONAL EXPERIENCE Communication and Public Relations (1989 to 1999) Living Stone Company Seoul, South Korea Director of Chinese Marketing Initiating penetration of Chinese market representing a German natural paint manufacturer Establishing representatives in China from ground zero and responsible for contracts and negotiation Drafting contracts between the Company and agents and establishing ground rules for providing products, samples, sale terms and risk and rewards Responsible for all communication between the Company and representatives in China Preparing correspondence, written communication, plans and specific terms for each business trip Providing inputs and being a part of decision making process for deciding new representatives and for finalizing contracts and terms Assisting representatives in China with interviewing personnel, initial opening of their offices, and training for personnel Pacific Language School Inchon, South Korea Lecturer Advanced Chinese - Chinese Department Teaching advanced Chinese to managers from multinational corporations and from companies which initiating and establishing business relationships with companies in China Creating and developing the course curriculum and the course materials for advance Chinese courses from group zero and tailoring the course materials to students who had different levels in Chinese and who wanted to learn different aspects about Chinese cultures and business negotiation with companies in China Developing course activities and materials regarding business communication, negotiations, culture reference and etiquette in Chinese Preparing and coordinating field trips for visiting companies as a part of learning opportunity for students to practice and apply their language skills in the real world McCombs School of Business Accounting Department Lecturer May Wang - Page 6 of 7
Xian Jiao-Tong University of China Ivy League School - Xian, China Manager Science and Research Department Assisting senior management with budgeting and distribution of government funding to academic programs and departments Working with the academic departments to develop a plan and budgets for findings in need Preparing analysis and tracking required funding and available funding report monthly, quarterly and annually Planning, coordinating, organizing and hosting annual science and research exhibitions Hosting nationwide annual science and research exhibition and conference organized by the University Director of Public Relations the President s Office Representing the university and organizing annually funding events between the university and other institutions Planning, organizing and hosting the annual university leadership conferences and overseas academic exchanges events News Reporter and a Talk Show Host On Campus Broadcasting and TV Center News reporting on campus including interviewing, writing, editing and hosting on campus weekly news A Talk Show Host to interview and host a talk show featured for dedicated faculties for their outstanding academic contribution and achievements including hosting a special program featured for a celebration of a hundred years history and achievement of the University INTERESTS, ACTIVITIES & COMMUNITY SERVICES (Austin, TX & New York, NY) President of the University Accounting Association The University of Texas at Austin Finance Fellow leading discussion and Q&A sessions for a major finance course - University of Texas University Distinguished Scholar The University of Texas at Austin Volunteer as a tax preparer for low income filers - Recognition from the House of Representative in Austin, Texas Volunteer as a member of the E&Y professional accounting team providing advice on accounting due diligence to Youth about Business, a high school summer camp hosted by Columbia University Volunteer for New York Central Park survey which provides estimates on visiting population in the Central Park in order to gain future funding for continuing maintenance of the Park Actively participating in Toast Masters An internationally recognized public speaking organization that provides training in professional communication and leadership skills Actively involving in training and performing (showcase) in a competitive dancing discipline - International Latin dance in New York, NY LANGUAGES: Proficient and Fluent in both English and Chinese (Mandarin) McCombs School of Business Accounting Department Lecturer May Wang - Page 7 of 7