ALABAMA CPA MAGAZINE APRIL 2014
Business and Industry Issue
The Alabama CPA MAGAZINE Alabama Society of Certified Public Accountants P.O. Box 242987 Montgomery, Alabama 36124-2987 1-800-227-1711 334-834-7650 www.ascpa.org Officers Renee B. Hubbard, Chair Don McCleod, Chair-Elect Dr. Lowell S. Broom, Vice-Chair James R. L. Carroll, Secretary-Treasurer Steven A. Shelton, Past Chair Board of Directors James Adam Causey Allison H. Guice Paul Marcus Hamilton Kate J. Ham Sharon S. Jackson Robert Rush Letson III Bradford A. Lynch Jason L. Miller Amanda N. Paul Michael C. Reibling Matthew T. Roeder Lewis T. Shreve Chasity L. Sweatmon Daniel K. Tew Alison Nicole Cunningham, Young CPA Lindsey S. Weems, Young CPA AICPA Council Members William H. Carr Renee B. Hubbard E. Lamar Reeves Jimmy L. Williamson, Past Chair, AICPA The Alabama CPA Magazine is published by Alabama Society of Certified Public Accountants as a membership service to Society members. Views and opinions appearing in this publication are not necessarily endorsed by the ASCPA. The deadline for submitting materials for publication is the first of the month preceding issue date.
Jeannine P. Birmingham, CPA, CAE, CGMA President and CEO Diane L. Christy, Editor Michelle Dooley of Thyssen Krupp
2
Message from the Chair... As this issue goes to press, I see signs that spring is just around the corner. What a welcome relief given the snow and ice issues many of us had to endure during February. I feel certain the “survival stories” from the 2014 storms (especially from the Birmingham area) will be around for years to come. This month, we are highlighting our CPAs in business and industry. These CPAs contribute to the success of both large and small businesses as well as not for profit entities. Take a minute to read about a couple of our members, Michelle Dooley of ThyssenKrupp and Nancy Corona of Children’s Hospital of Alabama, on pages 8 and 9. I am pleased to report that the by-law amendment, proposed to change our board structure, passed with an approval rate of 94%. The nominating committee quickly went to work selecting new board members for your approval at Annual Meeting in June. Since we are in a year of transition, the committee felt strongly that those currently serving on the board should be given an opportunity to serve out their terms. With only 2 nominations offered by members, the nominating committee had a great deal of work to do. We tried very hard (and I think we were successful) to make sure we had a diverse slate with representation from all areas of the state: large and small public accounting firms, government and industry. We know there are many qualified candidates among us and the committee will continue to need YOU to identify them. Please be thinking of next year’s nominations now and be ready to submit them in the fall! Take a look at the very talented group of CPAs on page 4 who have been nominated to serve you over the next one to three years. Jeannine has spent a great deal of time with the legislature the past couple of months. She, along with our lobbyists from Fine and Geddie, successfully worked to pass legislation specific to the Uniform Accountancy Act and assisted the Business Council of Alabama in the passage of the Taxpayers’ Bill of Rights (TBOR). Governor Robert Bentley signed into law the landmark Substitute House Bill 105, the “Alabama Taxpayer Fairness Act,” establishing an independent tax tribunal and providing Alabama taxpayers with additional procedural protections. The judge of the independent court will no longer be an Alabama Department of Revenue employee but a judge appointed by the governor. Specific to Alabama’s Uniform Accountancy Act (UAA), SB 146, “Definition of Attest” passed the House March 11 by a vote of 97-0. Governor Bentley signed the legislation March 18, Act No. 2014-178. The current UAA definition of attest was amended to include any engagement performed in accordance with the Statements on Standards for Attestation Engagements (SSAE) rather than just the examination of prospective financial information. This act shall become effective October 1, 2014. Special thanks to David Scott, Chuck Brand, Marty Abroms and Jennifer Hand for their assistance with this bill. My busy season (for which I am very thankful) is in the home stretch. Which means I will see the sun rise and set somewhere other than 200 Commerce Street very, very soon! Enjoy the spring and I hope it brings wonderful new beginnings.
IN MEMORIAM
Dr. Thomas A. Ratcliffe May 20, 1952 – March 23, 2014 / Key West, Florida Tom Ratcliffe died suddenly on Sunday, March 23. He was an icon of accounting, with a national reputation and following. His career centered on accounting education (in all its many forms). He was a passionate advocate for the profession. •U niversity accounting educator for more than 30 years; director emeritus of the School of Accountancy at Troy University. • L ong-time seminar provider for Alabama Society. Recipient of Outstanding Discussion Leader seven times; the award was eventually named in his honor. •M ember of the ASCPA Board of Directors; chair in 2001/02. •S enior accounting and auditing technical advisor for Warren Averett, LLC. •A uthor of more than 100 technical works on accounting and auditing. • F eatured speaker through web-based programs, including his own Plain English Accounting. •A dvisor to six associations of CPA firms. •A uthor of Bisk Education monthly Accounting and Auditing Report for CPAs in public practice and industry. •S erved on the Auditing Standards Board and as a member of the Audit Issues task force (AITF). •T echnical director of the AICPA Center for Plain English Accounting. None of these highlights adequately describes Tom’s personal charisma and dynamic teaching style. He was an early adopter of technology to enhance his presentations and was expert at communicating complicated principles in clear and concise terms. A memorial fund has been established by the Educational Foundation. You can contribute through the ASCPA website. The Alabama CPA MAGAZINE
Alabama manufacturing sector expands with new projects, capabilities Special report from the Alabama Department of Commerce
M
anufacturing remains the backbone of Alabama’s economy, responsible for 250,000 jobs in factories that turn out an amazing array of products, including automobiles and engines, rockets and missiles, steel coils and iron pipes, airplane components and U.S. Navy vessels. Today, Alabama’s manufacturing sector continues to evolve in new directions, creating opportunities and adding capabilities. In February, Remington Outdoor Co., the nation’s oldest manufacturer and gun company, announced plans to open a $110 million factory in Huntsville. Remington will employ more than 2,000 people, many of them engineers and designers, at the Alabama factory. Remington selected Alabama over nearly two dozen other states for the project. Meanwhile, in Mobile, Airbus’ A320 family final assembly line is rising at Brookley Aeroplex, signaling that Alabama will soon become a thriving center of passenger jet production. Airbus has begun hiring the first of 1,000 workers for the $600 million facility, and a team of Alabama employees has traveled to Germany for intensive training. Both of these projects represent high-value investments that will create a significant number of high-wage jobs while also triggering a ripple effect that will magnify their impact over time – just like Mercedes-Benz did when it selected Alabama for its first U.S. auto assembly plant. Mercedes itself is still expanding, after 20 years in the state. The automaker is hiring 1,000 workers to support the launch of the nextgeneration C-Class, the first sedan it will assemble at the Alabama plant. Mercedes has announced plans to add a fifth model, a small SUV, along with another 400 workers in Tuscaloosa County. Alabama’s manufacturing sector, which was once based on textile production, has moved up the food chain in recent years, becoming increasingly sophisticated. It also has seen employment gains, including 5,900 new manufacturing jobs in 2013, according the University of Alabama’s Center for Business and Economic Research. The gains are attributed to the state’s low tax structure, pro-business policies, top-notch worker training programs and its right-to-work status.
Leading a Manufacturing Renaissance Because Alabama has become an attractive destination for manufacturers, the state stands to benefit from the “reshoring”
trend that is seeing U.S. companies bring factory jobs back home. In fact, Area Development magazine recently placed Alabama among the states it said are leading a manufacturing renaissance in America. The publication pointed out that manufacturing jobs represent more than 13 percent of all non-farm employment in Alabama, the sixth highest rate in the nation. It also noted that the high quality of the state’s workforce reflects its innovative job-training programs, led by AIDT. Being able to assemble a skilled workforce is a vital concern to a manufacturer making a decision on where to place a new operation. It was a key factor for Indiana-based Knauf Insulation, which last year pumped significant capital into a facility in Chambers County that today has become the Southeast’s largest insulation plant. “Alabama puts a tremendous amount of effort into attracting and retaining employers. That effort is exemplified by hiring and training programs that are second to none that we have found. Alabama virtually guarantees us a workforce with the skills we need to succeed,” Knauf Insulation CEO Mark Andrews said recently. Landing projects like Knauf Insulation’s and expanding Alabama’s manufacturing base remain priorities for state economic developers. Accelerate Alabama, the state’s strategic economic growth plan, targets 11 key sectors, several of them involved in advanced manufacturing. These include automotive, aerospace and metals – all areas that have seen growth. The Alabama Department of Commerce works closely with other economic development agencies across the state to win new manufacturing projects that benefit local communities. After all, factory jobs tend to pay well. According to the National Association of Manufacturers, the average annual compensation for manufacturing in Alabama tops $60,000, much higher than the average of $36,500 for private sector jobs. Rising international profile At the same time, rising manufacturing output has boosted Alabama’s profile on the international business stage. Alabamamade vehicles are now the state’s No. 1 export category, with automobiles and parts valued at $7.1 billion shipped to more than 100 countries last year alone. Alabama also has become a choice destination for foreign direct investment, much of it in the automotive sector. As with Mercedes, the Alabama manufacturing facilities of Honda, Hyundai and Toyota Continued on page 16
The Alabama CPA MAGAZINE
3
Doing It Better SMEs Driving & Adopting Sustainable Business Strategies
H
ave you wondered why accounting has become so entwined with sustainability? They actually have a lot in common. With rising energy prices and growing consumer demand, there are increasing reasons for small and medium-sized enterprises (SMEs) to adopt sustainability strategies.
Emphasizing Sustainability Improves Profitability & Much More Reasons for adopting sustainability may vary from company to company, but all have found that emphasizing sustainability improves their profitability, generates greater loyalty and commitment from employees, and cements relationships with customers and suppliers. In fact, a recent Lloyds TSB survey found that 70% of SMEs are adopting a sustainable approach in order to secure new business, while 54% are becoming sustainable to save money. The AICPA and CIMA, under the Chartered Global Management Accountant® (CGMA®) designation have released Top Ten Key Elements to Sustainable Business Practices in SMEs, which draws together case studies and key lessons from small businesses across the UK, US and Canada. The report provides a real-life picture of how sustainability impacts the bottom line and shows how finance can
harness sustainability strategy to achieve commercial benefits. Below is a snapshot of the major points in the report: Top Ten Key Elements 1. Take a broad view of sustainability. Engage outside expertise to ensure that your company considers every aspect of sustainability, not just environmental issues. You can achieve this by having open discussions with all stakeholders, including customers and suppliers, and being willing to share information to come up with innovative solutions to reduce emissions and increase efficiency. 2. Define in detail what sustainability means to your company. Embrace industry-wide initiatives by engaging with peer organizations to achieve sustainable goals and sharing best practices with organizations that face the same challenges. However, don’t limit it to peers; consider engaging all stakeholders in your drive to improve sustainability, including suppliers and customers, to get everyone on board. 3. Engage all stakeholders. Give employees ownership in the company and a direct role
The Global Management Accounting Principles®
A structure for better business performance
W
e have entered a new era for global business. Old certainties and set ways of doing things are being steadily disrupted as businesses adapt to a world that is changing faster than ever. The information available to business has never been more abundant, more complex and more difficult to interpret. In this new, volatile era, management accounting is more relevant than ever. Forwardlooking and externally-facing, management accounting brings structured solutions to unstructured problems, ensuring organizations have the quality of data, analysis and judgment to ensure the best decisions are made and communicated effectively. The AICPA and CIMA believe there is an unmet need for a set of global principles to help organizations gain an integrated view of the business environment. Driven by marketplace research, including interviews with employers around the globe, CIMA and AICPA have developed the Global Management Accounting Principles©, which are open for public comment for a limited time. The Principles outline the fundamental values and qualities that represent best practice management accounting, and are a global benchmark which will enable businesses and institutions to make the right decisions: transparent, ethical and for the long-term. Interested parties around the world are being asked to provide feedback on how the draft framework can best meet their needs. The consultation period ends May 10, 2014. More information about the principles and instructions on how you can submit feedback are available at cimaglobal.com/principles.
4
in defining sustainable activities like charitable giving. Keep a long-term perspective on the balance between sustainability and profitability, and trust that sustainable business practices are bringing benefit to the company – even if those benefits are intangible and hard to measure. 4. Remember that you are not alone. While that’s often difficult, getting involved in community or industry initiatives to kick-start a sustainability drive can help. Consider codifying practical measures for sustainability in a document that everyone in the organization can access and understand. Creating metrics to measure the performance of employees and the organization as a whole on sustainability can do the trick. 5. Establish responsibility and communicate widely. Look at industry-wide initiatives that build on the knowledge of other companies and industry associations. You can achieve this by mapping official accreditation for environmental management and sustainable process quality to your own business processes. However, you can go even further by considering sustainability not only within your own company, but across your network of suppliers as well. 6. Take it step by step. Identify and build on the elements of your existing business model that promote sustainable activities and practices. Make clear links between sustainability and efficiency and efficiency and cost savings. You can achieve this by keeping up with the latest research on how to improve sustainability in key areas of business, such as fuel efficiency and the reduction of packaging materials – and then apply those lessons in practical ways in your own organization. 7. Walk the talk. Assess the benefits of sustainability projects from a long-term perspective and then engage senior management in defining a sustainability strategy that looks beyond the next quarter’s financial results. Walking the talk means leading by example and engaging customers, partners and suppliers in your journey towards becoming a more sustainable business. 8. Tie sustainability to profit. Identify how everything you use or create in your business, even waste, might be turned into a value-added product. Consider how susThe Alabama CPA MAGAZINE
Board of Directors News tainable business practices can increase efficiency and differentiate your company from competitors, then network with local organizations that share sustainable goals so that you can pool that knowledge and coordinate efforts. 9. Measure, monitor and review. Keep in step with ecological initiatives your customers and/or suppliers may undertake. Look at innovative interpretations of the term ‘recycling’, including the use of material as a source of biomass fuel. Consider calling in external consultants to give an objective view on how your company can adopt more sustainable practices. 10. Invest in the future. Embrace industrywide initiatives and engage with peer organizations to achieve sustainable goals. Share best practices with organizations that face the same challenges in regard to sustainability and engage all stakeholders in your drive to improve sustainability. Case Studies Download the full report to read about real life case studies from the following organizations on how they have been able to successfully integrate many, if not all, of the above elements into their operations, the challenges they faced and how they were able to overcome them: • Atropex • Aéroports de Montréal (ADM) • Cirtronics • UKOS plc • Billington Structures • Rainbow Nightfreight • Zions Bancorporation • Rocky Mountain Flatbread • Ecological Fibers, Inc. The CGMA designation recognizes the most talented and committed management accountants with the discipline and skill to drive strong business performance. CGMAs can download the full report, Top Ten Key Elements to Sustainable Business Practices in SMEs, at CGMA.org.
Members Nominated for the 2014/15 ASCPA Board of Directors
A
s Renee Hubbard mentioned in the Message from the Chair (page 2), the by-law amendment to make changes to the governance of the Alabama Society passed overwhelmingly in February. The Nominations Committee immediately went to work and now presents the following slate of officers and board members. The vote will be held at the 95th Annual Meeting on June 5. Chair – Don McCleod Don McCleod, CPA, Dothan Chair-elect – Dr. Lowell Broom Samford University, Birmingham Past Chair – Renee Hubbard Jackson Thornton, Montgomery One-year term on the Board of Directors Jamey Carroll MDA Professional Group, Huntsville Mike Reibling Michael C. Reibling, CPA, Mobile Jason Miller Anglin Reichman Snellgrove & Armstrong, Huntsville Kate Ham City of Auburn, Auburn Two-year term Greg Sellers Warren Averett, Montgomery Buddy Johnsey Watkins Johnsey Professional Group, Florence Rachel Taylor JamisonMoneyFarmer, Tuscaloosa Three-year term Marc Hamilton The Westervelt Company, Tuscaloosa Caitlin Glass Forensic Strategic Solutions, Inc., Birmingham Dennis Sherrin Hartmann, Blackmon & Kilgore, Fairhope AICPA Council Representatives John Shank (Term begins October 2014)
Barfield, Murphy, Shank & Smith, Birmingham E. Lamar Reeves Smith, Dukes & Buckalew, Mobile The Alabama CPA MAGAZINE
5
Doing It Better
How CFOs and supply-chain leaders can boost earnings
G
By Sabine Vollmer
lobal supply chains tend to deliver better results at lower costs when CFOs and supply-chain leaders work closely together, EY research suggests. The same research also found that these business partnerships between finance and supply-chain executives existed at only about onequarter of companies surveyed. The majority of the 423 finance and supply-chain executives polled in about 20 countries said their relationship has become closer in the past three years. But only 26% of the finance executives and 21% of the supply-chain executives said CFOs’ contributions to the supply chain are primarily based on an enabling and collaborative business partnership. Companies where finance and supply-chain executives collaborate closely reported better results, the EY survey found. Forty-eight per cent of respondents at companies in which finance and supply-chain executives had close business partnerships reported a more than 5% increase in earnings before interest, taxes, depreciation and amortization (EBITDA) in the past year. Just 22% of respondents at companies with a more traditional relationship between finance and supply-chain executives reported similar increases in EBIDTA. Traditionally, CFOs monitored supply-chain matters but tended to work more closely with COOs than with supply-chain executives. But rising internal and external costs, emerging new markets, shorter product life cycles and ongoing economic uncertainties are elevating the role of the supply chain and the supply-chain leaders within a company. “Finance should never be a policeman just throwing a report over the fence and telling the business it’s their problem,” Mutlaq Al-Morished, executive vice president for corporate finance at Saudi Arabia-based petrochemicals manufacturer SABIC, said in the EY report. “We should be helping the supply chain to work toward a solution, not just identifying problems.” Business partnering between the CFO and supply-chain leaders is most established in the US, Singapore and South Korea, according to the survey. CFOs and supply-chain leaders are most likely to work collaboratively in technology companies (34%), followed by consumer products companies (33%). Finance and supply-chain executives who work together are better at “unlocking hidden value within the organization and strengthening financial performance,” according to the EY research.
Benefits of business partnering include: 1. Creating consistency across the supply chain, the business and corporate strategy. Finance and supply-chain executives in the EY survey said working together closely breaks down barriers, improves communication and transparency, eliminates information silos and allows CFOs to better align finance, the supply chain and overall strategy. The free flow of data between supply-chain and finance executives is key, Simon Dingemans, CFO at British drugmaker GlaxoSmithKline, told EY. “An integrated supply chain depends on data standardization, data comparability and simplification,” Dingemans said. When supply-chain and finance executives have a business partnership, “this means that people can see a total cost picture, which is what drives commercial behavior.” 2. Supporting and challenging investment choices. CFOs who work closely with supply-chain leaders are more than traditional gatekeepers 6
for investment and resource allocation. They get involved early on in the investment cycle, when ideas are formulated, and stay all the way to the end. Allowing supply-chain leaders to gain an understanding of how they fit into the corporate strategy tends to make discussions around investment and capital expenditures more productive, according to Andrew Caveney, global supply-chain and operations leader at EY. 3. Monitoring and enhancing performance. Business partner CFOs act as bridge builders between different parts of the organization by helping standardize the language, measurement, tools and key performance indicators. In that role, they can set KPIs and targets to drive the right behaviors in the supply chain. In the EY survey, 57% of finance executives and 27% of supply-chain leaders said they need to do more to drive growth in the business. About half of the survey respondents saw opportunities to optimize excise and trade incentives and gain a better understanding of working capital. About one-third felt they could better understand the cost of inventory. 4. Helping manage risk and business continuity. Mitigating risk is one of the biggest contributions CFOs can make to the supply chain. Key risks survey respondents identified included lack of visibility into outsourcing relationships, currency risk, potential for unexpected disruption of the supply chain from natural disasters and labor disputes. The risk exposure should align with risk appetite, a goal the CFO can pursue at the board level. Here are ten steps EY suggests CFOs can take to enter into a business partnership with supply-chain executives: • Spend one day a week working with supply-chain issues. • Allocate finance resources to the supply chain, maybe even including embedding finance executives in the supply-chain function. • Review alignment of commercial and operational sides of the business. • Ensure data-driven business decisions and position finance as the owners of the data. • Get involved in the entire life cycle of an investment, from choosing an asset for investment to managing its performance and retiring or reinvesting in it. • Ensure that direct and indirect taxes, transfer pricing and the legal entity are integrated in operating models. • Key supply-chain performance indicators should encourage behaviors and outcomes that drive value. • Identify performance incentives that are not aligned with the overall business strategy. • Consider centralizing business functions to reduce costs, enhance risk management and increase tax efficiency. • Look carefully for risks that lurk in secondary or tertiary layers of the supply chain.
____ Sabine Vollmer (svollmer@aicpa.org) is a CGMA Magazine senior editor. CGMA Magazine Update is a free weekly roundup of the most compelling news and features from CGMA Magazine delivered to your inbox. Visit http://bit.ly/1bMefBG to sign up. The Alabama CPA MAGAZINE
Alabama Young CPAs’ Charity Golf Tournament Sponsored by PangeaTwo Where’s the ROI?
F
or many years, the Young CPAs have held a charity golf tournament in Birmingham. When it grew from the Birmingham Young CPAs’ project to a statewide event involving the Young CPA Board, fund-raising took a significant jump. Gross income is now around $50,000 each year. That answers why the Young CPAs hold the event, but why should ASCPA members participate? The tournament is an amazing outing for CPAs. But it can be much more than a fun afternoon with colleagues. The tournament is a great way to grow business and to strengthen relationships. Think about building a foursome comprised of a key banker contact, referring attorney or potential client. Invite a younger member of your staff so you can model successful business development skills. Maximize your investment in the tournament by using it as part of your marketing program. L. Kianoff & Associates is a software and technology firm. Owner Lisa Kianoff is a CPA and ASCPA member. She and husband Alan consistently support the Society in many ways, including the golf tournament.
Young CPAs) and in doing our share for the community. Our involvement in the Charity Golf Tournament each year allows us to do both.” Brad Armagost of Trustmark Bank came to the tournament his first year to play on a team and returned in year two as a silver sponsor. “The ASCPA is our customer so we wanted to support their programs. But once we had a chance to check out the tournament, we elected to expand our investment. We invited some key contacts in the Birmingham market to join us for the day, giving it real business value.” Most importantly, the two beneficiaries of the tournament are worthy of your time and investment. The Exceptional Foundation of Homewood provides services to a unique, underserved group – mentally and physically challenged individuals of all ages who need a safe place. Executive Director Tricia Kirk has developed an amazing community where participants play sports, have a scout troop, go
to the movies, to bowling, to the mall, and, most special of all, hold their own prom. Everyone was very moved last year when one of their Boy Scouts sang the Star-Spangled Banner at the opening of the golf tournament. The second recipient is the ASCPA’s own Educational Foundation. The community of CPAs has always been committed to keeping the pipeline full for the future of the profession. More than $73,500 in scholarships was awarded for the 2013/14 academic year. Funds from the golf tournament are a significant contribution to the scholarship program. What’s not to like? It will be a beautiful day at the Robert Trent Jones Golf Trail’s Oxmoor Valley courses on June 4, 2014. Enjoy participating, knowing that your support will live beyond the afternoon’s fun. The link to registration is on the home page of the ASCPA website, www.ascpa.org. Contact Amanda Freeman, afreeman@ascpa. org or Corena Unpingco, cunpingco@ascpa. org for more information about sponsorships and teams.
“We are big believers in supporting our profession’s next generation (the
Long on education, but short on time?
CHANGE IS INEVITABLE . DIRECTION IS INTENTIONAL.
ASCPA has partnered with the California Society of CPAs to offer members over 340 live webcasts offered in 2, 4, and 8 hour segments and a variety of topics.
PANGEATWO successfully matches clients with talented professionals. Our seasoned understanding of human potential,
Log on today!
Birmingham, AL 205.444.0080 | Mobile, AL 251.732.3000 www.pangeatwo.com
The Alabama CPA MAGAZINE
including individual strengths, lets us design far-reaching and personalized workforce solutions for employers. Our experience gives candidates an advantage and creates common ground between companies and professionals. PANGEATWO is a leader in recruitment and staffing solutions in accounting and financial services. Call today, and we’ll help you connect talent and potential.
7
Doing It Better
Nancy Corona of Children’s Hospital of Alabama “Our clinicians do amazing work for the children in our state.”
N
ancy Corona is a woman of passion. She works for one of the premier healthcare systems in the region, serves on boards for literacy and beautification of her beloved Vestavia Hills, and has been a solid supporter of the ASCPA Women’s Summit since its inception. Corona has been a long-time resident of Vestavia Hills, a graduate of Berry High School and the University of Alabama at Birmingham. She was inspired to enter accounting because of an elective she took in high school -bookkeeping. While not necessarily considered part of the college prep track, it appealed to her. At UAB, Dr. Keith Bryant encouraged her to take graduate level courses and to pursue public accounting. She took his advice to heart, spending 10 years with Ernst & Ernst (now EY – Ernst & Young). When she and her husband had children, she became a sole practitioner for 15 years to allow her the flexibility she needed. “During that time I did some consulting work for Children’s. They had been an audit client of mine at Ernst so I knew their operations well. The consulting grew into a full-time job in 2001.” Given her experience, it’s easy to see why Corona was an early supporter of the Women’s Summit. She’s very aware of the ways in which women have advanced in the profession in the last 30 years. “Companies have realized that allowing women to work flexibly and remotely is a huge advantage to both the women involved and to their clients. There’s so much invested in accounting staff – it’s silly to tell someone they no longer have value just because an 8:00-5:00 workday is not feasible for them.” Since she is in both the healthcare and nonprofit worlds, Corona recognizes the profound differences between for-profit and non-profit. “The purpose of a for-profit is to maximize profit, where the non-profit mission is to fill a community need and to benefit society as a whole. This translates into differences in management, in decision-making, in defining sources of income and so forth. And, those differences translate into different working environments.” Corona serves on the Executive Board of Better Basics and The Children’s Literacy Guild to reflect her dedication to improving literacy. 8
She is a member of the Vestavia Hills Board of Education as well as the city’s Beautification Board and the Vestavia Hills Garden Club. When asked what are the biggest challenges facing the profession, she responded, “I see a couple of things. 1) The advances in technology bring with them a need to protect data - my audit background again! 2) It’s critical to keep promoting accounting careers to college students. We want to maintain the highest standards and develop a great talent pool. 3) Keeping abreast of constantly changing reporting standards is a huge challenge! And 4) that really extends to ALL the accounting and tax standards and their changes.”
How does she relax? She travels to experience new cultures, not difficult when her two grown children live outside Alabama. Daughter Elizabeth is an architect in Washington, D.C. expecting the Corona’s first grandchild this month. Son Alex works as a development associate for a real estate investment firm in Lubbock, Texas. Because of her role in healthcare, Corona finds her work at Children’s very inspiring, but also loses sleep over the issue of how to handle healthcare in the country and especially Alabama. “This is a time of transition and we need to get it right for the welfare of all our citizens.”
HARD SHOES TO FILL? Where filling someone’s shoes is concerned, we get it. Fit goes beyond the shoe’s size to the style and comfort of the wearer. Otherwise, wouldn’t everyone walk around in the same shoes? We believe that when you connect the right person to the right job and the right individual to the right company, the shoes will be just right. We’re here to help you find the person to step into these shoes, And to make sure they can HIT THE GROUND RUNNING.
www.itacsolutions.com TECHNOLOGY | CORPORATE PROFESSIONAL/CLERICAL GOVERNMENT/ENGINEERING | ACCOUNTING/FINANCE
Providing temporary/contract, contract-to-hire, and direct hire staffing solutions. SOLUTIONS
Birmingham | Mobile | Huntsville | Nashville The Alabama CPA MAGAZINE
Michelle Dooley Accounting is in her blood, but it took a while to get there.
M
ichelle Dooley was graduated from Auburn University with a degree in economics and spent the first part of her career with retail giant Walgreen’s. Eventually, her DNA kicked in and she made the move to accounting. After all, she had to make her grandfather proud. Max Miller was one of the founders of Mobile firm Wilkins Miller, predecessor to today’s Wilkins Miller Hieronymus. Dooley is from Mobile and attended St. Paul’s Episcopal School. At AU she had a coop job as an analyst with Delta Airlines. She worked on several projects with them including time studies, redesigning the pet luggage tag and the RFID (radio frequency identification) system for tracking bags. Nearing graduation, she was offered a job on the spot by Walgreen’s recruiters. Dooley started out as an assistant manager for Walgreen’s in Hoover, moving up to district photo supervisor for Alabama, Mississippi as well as parts of Florida and Tennessee. A career in accounting began when a tobacco manufacturer based in Memphis came calling. Dooley went back to Auburn to earn her masters of accounting degree, even though she had to take 5 undergraduate accounting classes to catch up. She rose through the ranks at the tobacco company to plant controller, then was faced with a dilemma: stay in Atlanta as a plant controller, or move home to Mobile when ThyssenKrupp Steel USA started hiring for operations controlling positions in 2009 for their greenfield carbon steel processing facility in Calvert, Alabama. “My grandmother was ill and the tobacco industry was facing pressure from a variety of directions. I chose long-term job stability and came back to Mobile, settling initially in Daphne. I began sitting for the CPA exam while at TK, completing it in early 2012.” The plan for ThyssenKrupp was that the growing automotive manufacturing sector in the southeast would support a steel plant in the region. Challenges within the ThyssenKrupp Group led to the sale of the operational facility in February 2014 to a joint venture by ArcelorMittal and Nippon Steel & Sumitomo Metal Corporation, the first and second largest steel companies in the world respectively. Dooley participated in transition discussions during the mergers and acquisition process The Alabama CPA MAGAZINE
and added those skills to what she does dayto-day. “I work in cost accounting, forecasting and in enterprise resource planning (ERP) system implementations. All plant function results eventually find their way to my desk, via customized SAP software.” Dooley cites reporting requirements as the biggest change, and challenge, in her 11 years in accounting. However, in compensation, her skills have been more transferable than she would have predicted. Therefore each new assignment is not as much learning new as it is adding on. Like staff of other foreign-owned companies, she’s visited the headquarters of the former owners ThyssenKrupp in Essen, Germany, and was able to tour several German cities while in Europe. She documented much of what she saw by taking photographs and creating a collage wall in her home. Photography and coaching soccer are her hobbies. Since she came late to the party, Dooley has been making up for lost time by becoming fully immersed in the profession. She attended the AICPA Leadership Academy, Session IV, in Durham in 2013. The week-long intensive program was a surprise to her. “I just didn’t anticipate how many amazing
speakers we’d have or how interested they’d be in getting to know us. I spent about 20 minutes talking to Barry Melancon one evening (AICPA president and CEO). He began calling me ‘Auburn’ at our events since I had on an Auburn shirt when we met. I was so inspired by the experience that I applied for the ASCPA’s Leadership Academy Class IV which will start this spring.” After reading about the Society’s involvement with SaveFirst, she volunteered to help with free tax preparation in 2013. Dooley also volunteered last fall with the Young CPAs’ classroom blitz Pay it Forward. She went to Spanish Fort High School, originally intending to see a couple of classes. “The teachers just kept sending in their students and it ended up being almost a full day. What a challenge it is to be in front of a lot of high school kids! Between classes, the teachers would bring me several students at a time and ask me to coach them in budgeting. I’m not sure who learned more.”With her 6 year old daughter, Dooley recently relocated to Saraland, to be closer to the TK plant and to take advantage of the new school and neighborhoods which have sprung up there. “I feel so excited about what lies ahead for me in the profession. I like to think that my Poppa (Max) would be proud.” 9
MEMBERS IN MOTION New Positions and Promotions Smith Dukes & Buckalew announced the promotion of Brooke M. Wooden to senior assurance accountant and the addition of Charles Brinson as senior accountant. Wooden was graduated from Troy University, and started with the firm in 2011 after beginning her accounting career in the private sector. She has since worked with non-profit, governBrooke Wooden mental and various other audit engagements. Brinson is a Mobile native and holds a BS degree in finance and a masters of accountancy from the University of Alabama. He has also served as a commercial real estate banker and has experience as an estimator/project manager for a conCharles Brinson struction contracting firm. Barfield, Murphy, Shank & Smith announced that Henry Denbo has joined the firm as a member. Denbo previously owned his own accounting firm, founded in 1986. He will provide accounting and auditing services to clients in the construction, manufacturHenry Denbo ing, distribution and not-for-profit industries. He holds CPA licenses in Alabama and California. Tim Carlisle and Meredith Smith have joined Mauldin & Jenkins in their Birmingham office.
Tim Carlisle
Meredith Smith
Carlisle is a graduate of the University of Alabama. He has 24 years of experience providing income tax compliance services to individuals, businesses, trusts and estates primarily within the medical, publishing, pharmaceutical and professional services niches. He also provides forensic accounting and litigation support services. Smith’s 16 years of experience includes medical, information technology, manufacturing and wholesale distribution businesses where she provides a variety of professional services. She is also a graduate of the University of Alabama and holds a MAcc from UAB.
Catherine Henretta and Tena Diliberto have been promoted to directors and Catherine “Kitty” Croom has been promoted to senior supervisor, all Catherine Henretta at Culotta, Scroggins, Hendricks and Gillespie, P.C. Henretta is a graduate of Ohio State University, where she received her B.A. degree in accounting and joined CSHG as a manager in 2007. She has more than 30 years of experience in accounting, auditing, and taxation for businesses, Tena Diliberto trusts, not-for-profits, and indi-
10
viduals. She manages the firm’s compliance processes through its peer review and quality control programs. Diliberto was promoted from senior manager serving the tax and accounting needs of a broad range of clients. She concentrates her practice in tax planning and compliance for business and personal clients, as well as new business and staff development. Croom joined the firm in 2008 after graduating from Birmingham-Southern College. She concentrates on taxation of corporations and partnerships and small business consulting. The partners of Russell Thompson Butler & Houston announced that Kayli Carpenter and Tabitha Ankerson have joined the firm as staff accountants. Carpenter received an undergraduate degree in accounting from the University of Alabama in 2012 and an MBA from Troy University in 2013. Ankerson has 3 years of experience in public accounting, specifically in audit and assurance. She holds both underKayli Carpenter graduate and graduate degrees in accounting from the University of Southern Mississippi. Daniel Adams has ben promoted to supervisor. He is a 2006 graduate of Auburn University and concentrates on financial audits for insurance companies, retirement plans and construction contractors. Daniel Adams Joseph Barton McCurley has been admitted as a shareholder at Self, Maples & Copeland, P.C. McCurley has been with the firm since 2002 and specializes in services for long-term care clients, which includes multistate cost reporting and audits for HUD financed nursing home projects. He received his accounting degree from the University of Alabama. Deborah Jacobs has joined Anglin, Reichman, Snellgrove & Armstrong in their ARSA Solutions, Business Services Group as a senior accountant. She has over
10 years of accounting experience working in both public accounting and industry, with considerable background in government contracting. She is a graduate of the University of Alabama in Huntsville. The firm also added staff in their Tax Advisory Services Group. Nathan Edwards, senior accountant, has more than six years of accounting experience, primarily in tax. He is a graduate of the University of Central Florida. Carr, Riggs & Ingram, public accounting firm ranked third in the south and 28th nationally, promoted 14 to partner and named four corporate partners. Alabama members included the following: Enterprise’s Michelle Stinnett, has 15 years of tax and accounting experience. She provides tax services to consolidated entities, closely-held business owners, and high net worth individuals. Stinnett’s specialized accounting services include tax consulting and compliance services, estate planning, and representing taxpayers before the Internal Revenue Service (IRS) and various state agencies. In Montgomery, Robert Miller has nearly 20 years of experience in public accounting. He offers accounting outsourcing, business consulting services, tax compliance and planning services to closely-held businesses of all sizes. His experience includes work with insurance companies, restaurants, and not-for-profit organizations. Steven Williams has 14 years of diversified audit and tax compliance and consulting services. He specializes in serving clients in the insurance and not-for-profit industries. Tommie Singleton holds the CISA, CITP, CFF, CGEIT designations and serves as CRI’s Director of Consulting Services. His CRI responsibility areas encompass IT audit, forensic accounting, and Service Organization Controls (SOC) audits - including SSAE No. 16 audits (formerly SAS 70 audits). Since 2006, he has been serving as editor of the Information Systems Audit and Control Journal “IT Audit Basics” column, which is published six times annually. Singleton also served on the Information Technology Executive Committee (ITEC) for the American Institute of Certified Public Accountants (AICPA) from 2008-2011.
Congratulations to Pearce Bevill Leesburg Moore, P.C. and Managing Partner Steve Moore for their recognition by the University of Alabama in Birmingham’s Excellence in Business Top 25 Award. The program identifies, recognizes, and celebrates the success of the top 25 UAB alumni-owned or alumni-operated businesses. The award was based on several criteria including percentage of cumulative annual growth in sales or revenue, letters of recommendation, and cover letter. The award was made at a luncheon on March 7 at the UAB Alumni House. Steve Moore has served on the ASCPA Board of Directors, is a past chair (2003/4), and was Alabama representative to the AICPA Council for two terms.
The Alabama CPA MAGAZINE
Award-winning game idea from Hoover High School Finance Academy students! Currently, he serves as a coordinator of the AICPA’s two national IT Audit Schools.
Montgomery Estate Planning Council, and served on their board of directors for eight years.
Warren Averett announced that Max A. Koss joins the firm as director of international tax. The merger of Koss’s international tax practice with Warren Averett became effective January 16, 2014. Koss possesses more than 27 years of experience in public accounting, including 24 in international tax. He has 10 years of experience working in national firms, including a two-year rotational assignment with KPMG’s US Corporate Tax Group in London.
Chad Singletary, a partner with Carr, Riggs & Ingram (CRI), was recently re-appointed by Governor Robert Bentley to the Alabama State Board of Public Accountancy. He was confirmed to the position by the Alabama Senate on January 28, 2014. Chad Singletary Singletary is a partner in the Montgomery office of CRI and practices in not-for-profit, insurance, and small business areas. He is a graduate of Troy University.
Community News JamisonMoneyFarmer PC and Jessup, Ingram, Burns & Associates, LLP have merged as of January 1, 2014. Terms were not disclosed, but the combined accounting firm will operate under the JamisonMoneyFarmer name. In addition, a related company, Capstone Wealth Management, LLC, is also joining the JamisonMoneyFarmer family of companies and will continue to operate as Capstone Wealth Management, LLC. Gregory E. Sellers, AEP®, of Warren Averett’s Montgomery office, was elected president of the National Association of Estate Planners & Councils (NAEPC) during its annual conference in fall 2013. Sellers has been in practice for more than 27 years and specializes in estate, gift and trust tax planning and preparation. He is a leader of the firm’s Estate and Trust Practice Group, and is a member of its Executive Committee and Strategic Initiative Group. During his eight prior years’ service on the board of directors of NAEPC, he served in the association’s treasurer and secretary offices, as chair of the AEP® Designation Committee and as chair of the Council Relations Committee. Sellers is a past president of the
The Alabama CPA MAGAZINE
Smith Dukes & Buckalew has launched a staffing company. Fit is a professional recruiting firm specializing in accounting, information technology, office administration and executive search. The new entity offers contract, contract-to-hire and full-time staffing and employment solutions. The Women’s Business Center of North Alabama in Huntsville announced today that Warren Averett has made a five-year commitment to support small business training and counseling services at the nonprofit organization. Last year, WBCNA assisted more than 2,100 people and held 81 business training sessions.
Members in the Media Congratulations to accounting firms in Birmingham who were recognized by the Birmingham Business Journal as being Best Places to Work: among midsize employers - Barfield, Murphy, Shank & Smith, Kassouf & Co., and PWC. For large employers - Warren Averett.
11
The Women’s Summit Presented by the Alabama Society of CPAs Thursday, May 8, 2014 The Hyatt Regency Wynfrey Hotel - Birmingham
rt of A e h T ation r o t s e R
8:00am-9:00am Registration and Networking 9:00am-12:00pm Finding Resilience in a Changing World Beth Terry, CSP Managing change has as much to do with resilience and a healthy perspective as it does with systems and marching orders. Your teams need information and tools to survive the rapid pace of change in their business and personal lives. This program provides Four Non-negotiable Truths About Change, a handy Change Path to chart their progress, and Five Practical Tools to Master the Change Process. 12:00pm-1:15pm Luncheon and Women to Watch Awards Luncheon Speaker, Marsha Jones, Chief Diversity Officer, PNC 1:30pm-2:30pm Restoring the World Around You: The Heart of Philanthropy Elizabeth Hutchins, Attorney – Sirote hether you are seeking volunteer opportunities with notW for-profits, or are a seasoned board member, learn how to effectively give back to your community without it taking over your life. How to get started, ethical considerations, expectations, financial commitments, and mentorship will all be covered in this session, along with tips for effective charitable giving and teaching philanthropy to your children. Presented by Elizabeth Hutchins, experienced estate, gift, and trust attorney, and popular advisor in the philanthropy world. 2:45pm-4:00pm Who Do You Think You Are? Restoring the Past by Discovering Yours Nancy Dupree, Research Archivist-Alabama Department of Archives and History Family history research can reconnect us, not only to our own personal history, the who’s and what’s that makes us the people we are, but also to our families, both those still present and those long gone. It is a unique way to bring history to life, a way to connect to history that’s personal and be restored in the stories left untold. Nancy Dupree will challenge you to seek out your personal history and leave a legacy to the future generations. 4:00pm-4:20pm Closing and Door Prizes 12
The Alabama CPA MAGAZINE
Gulf Shores, Alabama Earn up to 32 hours of education Register at www.ascpa.org ASCPA’s staff training... ...provides continuing professional education for local and regional CPA firms through courses that result in: • Enhanced on–the–job performance • Elevated motivation of staff • Improved competence of staff • CPE credits • Increased commitment of staff to the firm Basic Staff Training June 24-25, 2014 / Montgomery 16 Hours of A&A Credit Member Fee: $550 / Non-Member Fee: $600 Improves your staff members’ knowledge, skills and attitude to enable them to be more productive and profitable on audits, reviews and compilations.
Beginning In-Charge Staff Training June 11-12, 2014 / Montgomery 16 Hours of A&A Credit Member Fee: $550 / Non-Member Fee: $600 Beginning In-Charge training enables your experienced staff to better plan and efficiently complete audits, supervise staff and interact with partners and clients.
Semi-Senior Staff Training June 26-27, 2014 /Montgomery 16 Hours of A&A Credit Member Fee: $550 / Non-Member Fee: $600 Enables your more experienced staff to complete small audits, reviews and compilations with minimum supervision and maximum profitability.
For complete view of education modules and objectives of this course, visit www.ascpa.org.
The Alabama CPA MAGAZINE
13
Emerald Coast CPE Retreat Friday, June 27 | Panama City
Whether you’re
planning a getaway to the beach or just saving the drive with CPE close to home, Emerald Coast CPE Retreat is your chance to
relax and learn.
The Emerald Coast CPE Retreat is our newest event and is a collaboration between the Florida Institute of CPAs and the Alabama Society of CPAs. Earn up to 8 credit hours and network with CPAs from Florida and Alabama, all while taking in a majestic view of the world-renowned sugar sands and glistening waves. Whether you are planning a getaway to the beach this summer or are a Florida local, the Emerald Coast CPE Retreat is your chance to relax and learn in style.
Register Today!
Don’t miss your chance to attend this truly unique event.
Conference at-a-glance Friday
June 27
#EmeraldCoastCPE
CPE Credit This conference qualifies for 4 Accounting & Auditing (AA) and 4 Technical Business (TB) hours of CPE credit and is subject to change. CPE credit is subject to approval by the Florida Department of Business and Professional Regulation and the Alabama State Board of Public Accountancy.
ASCPA Members must register with the FICPA. Register at: http://www.ficpa.org/public/Conference/Register.aspx
14
Florida State University, Panama City Campus 4750 Collegiate Drive | Panama City, FL 32405 | (850) 872-4750
The Alabama CPA MAGAZINE
EDUCATION Express Area of No. Study Title Date(s) Location
AICPA Member Registration Non-Member Discount Member Fee Fee
029 AA - 8
NEW GAAS from A to Z
7/9/14
Huntsville
275
325
031 AA - 8
Audits of 401(k) Plans
7/10/14
Birmingham
-30
275
325
032 TX - 8
NEW Advanced Estate Planning Strategies
7/10/14
Birmingham
-30
275
325
033 AA - 8
Auditing Defined Contribution Plans
7/10/14
Mobile
-30
275
325
034 AA - 8
Fair Value Accounting: Making the Complex Issues Understandable
7/10/14
Mobile
275
325
035 AA - 8
NEW Internal Control Best Practices for Small and Medium-Sized Entities
7/11/14
Mobile
275
325
037 AA - 8
Internal Control Essentials for Financial Managers, Accountants and Auditors
7/14/14
Tuscaloosa
275
325
038 TX - 8
Advanced Tax Strategies for S Corporations
7/14/14
Tuscaloosa
275
325
040 TX - 8
Shortcuts to Tax Cuts: Individual Tax, Social Security, and Retirement Planning Tools and Strategies
7/14/14
Montgomery
275
325
042 TX - 8
NEW The Top 10 Tax Topics of 2014
7/15/14
Auburn
275
325
044 TX - 8
NEW ObamaCare and Fringe Benefits: 2014 and Beyond
7/15/14
Dothan
275
325
046 TX - 8
NEW Buying and Selling a Business: Critical Tax and Structuring Issues
7/18/14
Montgomery
275
325
047 OTH - 4
Excel Tables - Revolutionize How You Work with Excel!
7/28/14
Auburn - AM
180
230
049 OTH - 4
NEW Technology Update
7/28/14
Auburn - PM
180
230
053 OTH - 4
PDF Forms - What Accountants Need to Know
7/29/14
Birmingham (AM)
180
230
054 TX - 8
Federal Taxation of Timber Growers
7/29/14
Birmingham
275
325
055 OTH - 4
NEW Technology Update
7/29/14
Birmingham (PM)
180
230
057 TX - 8
Advanced Selected Issues for Trusts, Estates, and Their Beneficiaries
7/30/14
Montgomery
275
325
058 OTH - 8
NEW Excel Boot Camp: Two Days of Intensive Excel Training
7/30-31/14 Birmingham
275
325
059 AA - 8
Construction Contractors: Critical Accounting, Auditing, and Tax Issues in Today’s Environment
8/1/14
Mobile
275
325
060 TX - 8
Smart Strategies to Slash Taxes for Closely Held Businesses
8/1/14
Mobile
-30
275
325
061 AA - 8
Audits of Banks and Other Financial Institutions
8/4/14
Birmingham
-30
275
325
062 OTH - 8
NEW Advanced Business Law for CPAs
8/4/14
Birmingham
-30
275
325
063 AA - 8
Fraud and Abuse in Not-for-Profit Entities and Governments: Stealing from Everyone
8/4/14
Tuscaloosa
275
325
064 4AA/4OTH Budgeting, Forecasting and Business Analytics
8/4/14
Tuscaloosa
275
325
065 4AA/4OTH Advanced Excel
8/5/14
Birmingham
275
325
066 TX - 8
Form 990: A Comprehensive Approach to Accurate Preparation
8/5/14
Birmingham
-30
275
325
068 TX - 8
S Corporations: Key Issues, Compliance, and Tax Strategies
8/5/14
Huntsville
-30
275
325
069 AA - 8
Auditing Employee Benefit Plans
8/5/14
Mobile
-30
275
325
071 AA - 8
Accounting & Auditing Update
8/11/14
Huntsville
275
325
072 AA6/TX2
Advanced Real Estate Accounting, Auditing, and Taxation
8/11/14
Birmingham
275
325
073 TX - 8
Hot IRS Tax Examination Issues for Individuals and Businesses
8/11/14
Birmingham
275
325
074 AA - 8
Accounting & Auditing Update
8/12/14
Birmingham
275
325
075 AA - 8
Construction Contractors Advanced Issues
8/12/14
Montgomery
275
325
076 TX - 8
Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships
8/12/14
Montgomery
275
325
-30
-30
-30
-30
Register 10 days prior to any course and save $25 off the price listed. The Alabama CPA MAGAZINE
15
Presorted Std US Postage PAID Permit No. 131 Montgomery, AL APRIL
2014
The Alabama Society of Certified Public Accountants 1041 Longfield Court P.O. Box 242987 Montgomery, AL 36124
MEMBER MOMENT Celebrating all things ASCPA! rom Anglin Reichman Snellgrove and F Armstrong’s Marketing and Recruiting Coordinator, Wendy Tucker: “I just wanted to let you know that we hired LeAnne Vogel last week [midFebruary] as a permanent staff accountant in audit. I met and interviewed her at Accounting Interview Day last September. She has been interning with us this busy season, has done a great job, and we had a full-time position come available. I also (briefly) met Chris Cook at the same event. He was trying to meet with me during my only open slot that day but it had been filled by Amanda Archambeau of UAH. I felt really badly about it, so I set up an interview when we got back to Huntsville. We hired him permanently and hired Amanda as an intern.”
Hat trick for Accounting Interview Day!
SAVE THE DATE
28th Annual Accounting Interview Day September 19, 2014 • Wynlakes Country Club • Montgomery
Alabama Manufacturing Sector Expands Continued from page 3 have entered a growth mode. Toyota’s engine plant in Huntsville has become the Japanese automaker’s largest such facility in the world. The growth of Alabama’s automotive sector has been felt in many corners of the state. Chambers County, once devastated by textile industry plant closings, has added 1,700 jobs in recent years thanks to auto suppliers. Walker County, where coal was once king, has seen the arrival of two suppliers that soon should have more than 250 workers. The story is the same in many rural counties. Growth in Alabama’s manufacturing sector has been diverse, based on the types of projects announced recently. In Lawrence County, steel pipe maker IT-TRI will hire 100 people for a new $68 million facility. German manufacturer REHAU will establish its first U.S. research and development center in Cullman, with at least 45 engineers. In Limestone County, Carpenter Technology will invest $20 million in a 50-worker plant to produce superalloy powder for aircraft engines. Other manufacturing projects, including the Golden Dragon Copper Tubing plant in Wilcox County, are coming online. The GD Copper plant represents a $100 million investment and eventually could mean 500 jobs in a Black Belt county that has been dogged by high unemployment rates and limited opportunity. Projects such as GD Copper, Remington and Airbus underscore further expansion possibilities for the state’s manufacturing sector, meaning robust additional investment and job growth that will add to the long list of products with the “Made in Alabama” label.
Classified YOUR PRACTICE WANTED: We are North America’s leader in practice sales. Let us navigate the complexities, locate the best match from a deep pool of qualified and serious buyers, and optimize your return on the years invested in building your practice. If you are considering a change, contact Alabama broker Lori Newcomer, CPA, at (888) 277-6040 or LNewcomer@apsleader.com for a confidential discussion. Auburn/Opelika firm is seeking a CPA for a senior accountant position. The ideal candidate should have a minimum of 2 years’ public accounting experience and possess excellent analytical and interpersonal skills. This position offers competitive salary and benefits with growth opportunities. Send resume and inquiries to jim@hhcpas.net. CPA Practice for sale in North Shelby County: $225,000+ gross billings. Practice consists of individual and business clients. Services include tax, monthly write up, payroll and financial planning. One experienced fulltime employee. Great opportunity for CPA with client base to join the practice with buyout of retiring owner. 1250 sq. ft. office condo for sale or lease. Contact Steve at slind@email.com. Daxko is seeking a controller to serve as a trusted partner to the CFO and to be responsible for the numbers, data and processes of the accounting department in their Birmingham headquarters. The controller will lead the accounting team in growing an international company to $100 million in annual revenue. The ideal candidate is careful with details, not afraid of change, customer-centric and committed to mentoring their team members to achieve rewarding careers. Prefer CPA with public accounting audit background as well as industry experience (software preferred). Learn more and apply at http://tiny.cc/daxko-ascpa.daxko.com/careers. Seeking accountant with 2-3 years’ experience for Andalusia firm. CPA or CPA-eligible with public accounting experience preferred. Candidates must exhibito excellent verbal and written communications skills, proficient computer skills, and the ability to work in a team environment. We offer a competitive salary and benefit package with portential for advancement. Please send resume to ccalcpafirm@gmail.com.