CONNECTIONS m a y
M E M B E R S H I P/A C C I S S U E
•
J U N E
2 0 1 7
MEMBERSHIP 16 | Succession Planning 18 | Audit Research Summary Database 25 | Modern Long Term Care Insurance
DEPARTMENTS
INSIDE THE ASCPA
4 | Message from the Chair
22 | Educational Foundation –
“Our Work is Not Done”
5 | ASCPA 2017
28 | Young CPA Golf Tournament
and ServisFirst Bank
10 | Meet Dennis 14 | Member News 29 | Remembering 34 | Classifieds
3
MESSAGE FROM THE
CHAIRMAN
T
That’s when I’m thankful for my clients. When you look past the paperwork and the deadlines you see the people. The elderly client who has lost a spouse since last season. The young couple who have gained a dependent. The man or woman who come in with no hair because life has thrown them a curveball they didn’t expect. I’m thankful for all the people I get to interact with and the relationships we have.
ax season is over. As a society of CPAs, it’s no secret that many of our members are in public practice. Now is the time that they get to catch up on everything they’ve put off over the past three months. Hopefully they’ll find time to take some much-deserved time off to rest and recharge. Maybe they’ll spend some time catching up on yard work, reading, traveling or a host of other hobbies. Maybe they’ll reintroduce themselves to their families. We’ve talked about that very thing at my house many times. It truly does take us some time to become reacclimated after tax season is over. Our lives and schedules change and adapt to the rigors of tax season and once it’s over it’s not like flipping a switch back to pre-tax season.
Of course, May means one other thing…this will be my last message as ASCPA Chair. It has been a great year and I’m so blessed to have served as your chair. I am so proud of our profession and the Society. Your ASCPA is one of the top societies in the country. It is because of our great staff and certainly because of our great members. This June we will have our 98th annual meeting. The meeting will be in Montgomery as we start preparing and gearing up for 100! I encourage you all to attend and be part of this great event. How impressive is it to reflect on what our Society and its members have accomplished in the past century?
While the end of tax season always provides a sense of relief, I think it’s the sense of thankfulness that gives me pause the most. Many years I come in to the office the day after tax season is over. I’m still adapted to getting up before the sun, so I’m typically always at the office by myself for a while. The quiet on the morning after the deadline truly is like the calm before (only this time it’s actually after) the storm. The office is in a state of disarray, but the calm is still there. No phones ringing, no email pinging, just quiet.
I am humbled and honored to have served as your chair and I thank you for your support and for the opportunity to represent our state. Thank you to our ASCPA staff for being the greatest group we could ask for. I wish all of you a blessed summer.
It’s that moment I reflect on the orchestrated chaos that the past three months have held. That’s when I’m most thankful for my wife. We’re a team and I couldn’t do it without her. She has the hardest job during tax season and she amazes me every day.
Jamey
That’s when I’m thankful for my co-workers. We work long stressful hours together and see each other more than we see our families. It takes great people to work in that environment and come out successfully on the other side.
4
Jeannine P. Birmingham President and CEO
ASCPA 2017
On page 17 you’ll learn more about the new communication platform the ASCPA is launching in early summer. By virtue of your professional profile in the database, you’re already a part of one or more communities. As the program rolls out, you’ll be able to begin conversations with like-minded colleagues to enable problem-solving, sharing of professional (or other) interests, for interacting in as many ways as you’d like. It’s a member benefit through the Society that will connect you in ways no other professional organization can.
At a national meeting of state CPA societies several years ago, a member of our staff was asked how she felt about membership. Her reply was, “Well, it’s everything, isn’t it?”. That sums up how we feel about serving the 6200 members of the Alabama Society of CPAs. You are everything to us. This issue is all about our members, although you may not notice much that’s different. That’s because EVERY issue of this magazine, our weekly digital newsletter, #ALCPAsuccess, each Constant Contact email, all the content on the website (well, you get the point) is about ASCPA members.
So, yes, members ARE everything. You are the reason we come to work each day in support of this organization. Our entire staff joins me in thank you for becoming, and continuing to be, our members.
Flip to Member News on page 14 and learn what’s happening to colleagues in and out of their regular working day. Read the profile of Dennis Sherrin on page 10 to learn his visionary approach as managing partner at Fairhope firm Hartman, Blackmon & Kilgore, as a CPA and as a member of the ASCPA Board of Directors.
Call on me or Chair Jamey Carroll and let us know how we can make your ASCPA experience even better.
Jeannine
Accounting Connections Conference is just around the corner on June 8 and 9 in Montgomery. It is the only conference exclusively for members of the Alabama Society. During the luncheon meeting on June 8, officers will be elected and other business is conducted. We urge you to attend, especially if you haven’t been to the state capitol in a while. There will be a day and a half of education with excellent speakers, including this year’s Chairman of the AICPA’s Board of Directors, Kimberly Ellison-Taylor. Ellison-Taylor is an extraordinary leader who has a lengthy history of volunteering for the profession, both at the national level and the state level. She is the Global Accounting Strategy Director with Oracle and she brings a level of excitement and energy to her career as well as her volunteer service. Also, attending ACC will be more than 20 vendors there to meet you. The conference schedule allows plenty of time for you to catch up and network with peers from across the state. The 2017 CPE schedule is available in this issue to remind you to register early and often. Make your selections promptly so that we can save your seat! Choose a conference to attend, maybe even one outside of your own geographic area and you can meet up with colleagues you rarely see. More new CPE this year including the beginnings of nano-learning. Stay tuned for more.
Congratulations to ASCPA spring intern, Huntingdon College student Merita Stovall. James DeLoach and Brianne Smith are with Merita at the financial literacy workshop which she organized. Supported by Alpha Kappa Alpha, Huntingdon’s accounting club and student government, the workshop was attended by more than 100 Huntingdon students.
5
Montgomery, Alabama | June 8-9, 2017
The Accounting Connections Conference is coming to Montgomery, Thursday, June 8 through June 9, 2017. The Annual Meeting of years past is now the Accounting Connections Conference. Join the Alabama Society of CPAs in Montgomery, Alabama at the Renaissance Montgomery in the heart of the City of Dreams for another year of the re-imagined Annual Meeting. In 2017 you and your colleagues can look forward to NEW education tracks, one full day of A&A and tax education, evening awards presentation, Celebration of Success,
THURSDAY, JUNE 8, 2017 | Day One MORNING SESSIONS
8:00 am - noon A. Public Accounting Track (A&A): Firm Evolution, Change Management, and Auditing in the Future* B. Business and Industry Track (Other): Excel Budgets, Accounting Software Tech Update, and Power BI
and another day of opportunities for students, educators, Young CPAs, and firms. Featured speakers include AICPA Chair, Kimberly Ellison-Taylor, Jim Martin, CPA, CGMA, ASCPA Chair Jamey Carroll, Alabama’s very own Mike Frost, CPA and Bruce Ely and the Bradley Arant Boult Cummings Team.
NETWORKING LUNCHEON & ANNUAL BUSINESS MEETING
Noon – 1:15 pm
AFTERNOON SESSIONS
1:15 pm - 5:00 pm C. 2017 A&A Update with Jim Martin, CPA CGMA (A&A)* D. 2017’s Hot Topics: Professional Issues Update, Big Data and Cybersecurity 5:30 – 7:00 p.m ASCPA’s Annual Celebration of Success: Join us in honoring outstanding CPAs. Enjoy connecting with colleagues. Refresh with hors d’oeuvres and beverages. Meet this year’s scholarships recipients. Make your reservation on your Accounting Connections registration on www.ascpa.org/GetConnected. *Live Streamed Sessions
FRIDAY, JUNE 9, 2017 | Day Two
Dream big in 2017. Start at the Accounting Connections Conference— www.ascpa.org/ GetConnected.
8:00 am - noon E. Student Session (No Credit) F. Young CPA Session (Other): Taking Ownership of Your Future and the Accidental Chair G. Tax Session (Tax): Recent Developments in State Taxation Attend Day Two for only an additional $89.00. Print out a registration form at www.ascpa.org/GetConnected. 6
STAY AND PLAY
in Montgomery at the beautiful Renaissance Montgomery Hotel & Spa at the Convention Center!
.
Enjoy the best of downtown Montgomery. Make dinners plans with colleagues at one of the dozens of local restaurants within walking distance. Visit the Rosa Parks Museum, Hanks Williams Museum, and many historical monuments just blocks away. Join us down at the Riverwalk and be sure to cheer with
-
,
,
us for our hometown minor-league baseball team—the Montgomery Biscuits. 201 Tallapoosa Street Montgomery, AL 36104 334.481.5000 - Mention the ASCPA for special rates starting at $168.00 per night.
Kimberly N Ellison Taylor CPA CGMA Chairman, Board of Directors Ellison-Taylor is currently the Global Accounting Strategy Director for the Financial and Professional Services Industries for Oracle America, a leader in cloud solutions and enterprise technology. In this capacity, she provides insight to help drive innovation in this important domain, particularly as the computing paradigm shifts to Cloud and SaaS.
Kimberly N. EllisonTaylor, CPA, CGMA, is Chairman of the American Institute of CPAs’ Board of Directors. Ellison-Taylor has a lengthy history of volunteering for the profession, including serving as a member of the AICPA Business and Industry Executive Committee as well as the AICPA Board of Directors where she served as a member of the Audit and Finance committees. Ellison-Taylor also worked with the Benevolent Fund, and has served as a Council representative.
Previously, she served as the Global Practice team leader for Health and Human Services, working with teams worldwide where she developed and executed strategies on Cloud, Big Data, Security, Fraud Prevention/Detection, Customer Experience, and Modernization. Prior to Oracle, Kimberly worked in leadership roles at numerous other major companies and organizations, including the NASA Goddard Space Flight Center; Motorola; KPMG; and Prince George’s County Government, where she served as Chief Information Technology Officer.
She is a past Chair of the Maryland Association of CPAs, and has served on many of its committees, including the New Young Professional Network and Tomorrow’s CPA.
Mrs. Ellison-Taylor will lead the Professional Issues Update on Thursday, June 8 at the Accounting Connections Conference. 7
SUMMER EDUCATION CONFERENCE The Sandestin CPE Retreat is now the Summer Education Conference (SEC). Partnering with the Society of Louisiana CPAs has created this fun and exciting SEC collaboration! This year the Alabama, Louisiana, AND Florida societies are working together to bring all of our members together. 2017 is going to be another great year in and for the SEC! Since 1976, the Alabama Society of CPAs has taken CPE to the beach. The week long retreat does not just revolve around education, but memorable experiences, like: the Annual ASCPA Beach Party, an opening reception with live music, an annual golf tournament looking over Baytowne’s shores, and now a partnership with both the Florida Institute and Louisiana Society of CPAs. With room for work in the morning and play in the afternoon, this family-friendly event offers significant time for networking.
AGENDA FOR THE WEEK Monday, July 17, 2017
8:00 AM to 12:00 PM (A) Professional Issues Update with Barry Melancon, CEO of the Association of International Certified Professional Accountants and Simple Steps to Cybersecurity with Lisa Traina, CPA, CITP, CGMA
Thursday, July 20, 2017
8:00 AM to 12:00 PM (D) SSARs Update with Paul Brown, CPA, and The Economy and the Markets: Update and Outlook with Stephen Morgan
Friday, July 21, 2017 8:00 AM to 12:00 PM
Tuesday, July 18, 2017
8:00 AM to 12:00 PM (B) 2017 Accounting & Auditing Update with Jim Martin, CPA, CGMA
(E) Yellow Book & Governmental Accounting & Auditing Update and A Practical Approach to Audit Documentation with J. Michael Inzina, CPA, CGFM, CGMA
Wednesday, July 19, 2017
8:00 AM to 12:00 PM (C) Tax Update with Vicki Myer, CPA
CHOOSE TO STAY AND PLAY FROM FIVE RESORT LOCATIONS! Hilton Sandestin Beach and Golf Resort and Spa
4000 Sandestin Blvd. S Miramar Beach, FL 32550 Rates range from $310 to $695 per night.
Sandestin Golf & Beach Resort
9300 Emerald Coast Parkway West Destin, FL 32550
Beachside at Sandestin 1 BR 2 BR 3 BR
$339 $475 $599
Westwinds at Sandestin 1 BR 2 BR 3 BR
$349 $495 8 $609
The Village at Baytown Wharf 1 BR 2 BR
$215 $319
Luau at Sandestin Golf & Beach Resort 1 BR 2 BR
$245 $339
Find more details about each resort at www.ascpa.org/SEC17.
GULF SHORES CLUSTERS Visit The Beach Club in Gulf Shores June 20, 2017 through June 23,2017 to earn up to 32 hours of education. This four-day event allows you to choose from a variety of timely tax, A&A, and other topics -- find all of the courses listed below. With plenty of education and downtime, we can help you keep work/life balance in check!
002 U.S. GAAP: Latest Developments for Business & Industry 6/20/2017 | 8:30am-12:00pm | AA Instructor: Brent McClure
009 Individual Income Tax Return Mistakes and How to Fix Them 6/21/2017 | 8:30am-12:00Pm | TX Instructor: Michael A. Frost
015 S Corporation Taxation: Advanced Issues 6/22/2017 | 8:30am-12:00pm | TX Instructor: Michael A. Frost
021 Reviewing Partnership Tax Returns: What Are You Missing? 6/23/2017 | 8:30am-12:00pm | TX Instructor: Michael A. Frost
003 Top Five Tax Topics of 2017 6/20/2017 | 8:30am-12:00pm | TX Instructor: Michael A. Frost
010 Preparation, Compilation, and Review Engagements: Update and Review 6/21/2017 | 8:30am-12:00Pm | AA Instructor: Gene Ristaino
016 The Bottom Line on the New Lease Accounting Requirements 6/22/2017 | 8:30am-12:00pm | AA Instructor: Jeff Lieman
022 Data Breaches & Other Cyber Frauds: A 21st Century Risk to Your Organization 6/23/2017 | 8:30am-12:00Pm | Other Instructor: Jeff Lieman
004 Accounting and Auditing Update 6/20/2017 | 8:30am-12:00pm | AA Instructor: Gene Ristaino 005 Lean Accounting and Management: Saving Money by Streamlining Operations 6/20/2017 | 1:00pm-4:30pm | Other Instructor: Brent McClure 006 Critical Tax Factors in Business Life Cycle Decision-Making 6/20/2017 | 1:00pm-4:30pm| TX Instructor: Michael A. Frost 007 Internal Control: How Does It Impact an Audit? 6/20/2017 | 1:00pm-4:30pm | AA Instructor: Gene Ristaino 013 Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know 6/21/2017 | 1:00pm-4:30pm | AA Instructor: Gene Ristaino
017 Employment Law Update: Reducing Employer Liability 6/22/2017 | 1:00pm-4:30pm | Other Instructor: Brent McClure
011 Thriving in a Chaotic Environment: Planning and Strategy Formulation for Your Organization 6/21/2017 | 1:00pm-4:30pm | Other Instructor: Brent McClure
023 Meet Your Next Migraine: Five Critical Issues that Will Confront CPAs in Industry in 2017 6/23/2017 | 1:00pm-4:30pm | Other Instructor: Brent McClure
018 S Corporations: Compensation and Redemptions 6/22/2017 | 1:00pm-4:30pm | TX Instructor: Michael A. Frost
012 Meet Your Next Migraine: Five Critical Issues that Will Confront Tax Public Accountants in 2017 6/21/2017 | 1:00pm-4:30pm | TX Instructor: Michael A. Frost
019 The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them 6/22/2017 | 1:00pm-4:30pm | AA Instructor: Jeff Lieman
008 Business and Industry Roundtable 6/22/2017 | 8:30am-12:00Pm | Other Instructors: Marc Hamilton and Brent McClure
020 Innovative Forecasting & Budgeting: Moving Beyond the Traditional Techniques 6/23/2017 | 8:30am-12:00pm | Other Instructor: Brent McClure
014 Controller’s Update: Today’s Latest Trends 6/21/2017 | 8:30am-12:00pm | Other Instructor: Brent McClure
024 Reviewing S Corporation Tax Returns: What Are You Missing? 6/23/2017 | 1:00pm-4:30pm| TX Instructor: Michael A. Frost 025 Forensic Investigations: Key Tools to Success 6/23/2017 | 1:00pm-4:30pm | AA Instructor: Jeff Lieman
Call 251-224-3207 and ask for the Alabama Society of CPAs room rate when you make your reservation at The Beach Club, where all courses will take place. Room Types 1 Bedroom Unit 2 Bedroom Unit 3 Bedroom Unit
Base Nightly Rate $279.00 $342.00 $445.50
*There is a strict five-night minimum stay if you make your reservation between Monday, June 19, 2017 through Friday, June 23, 2017. During this time period, Spectrum Resorts does not allow for arrivals or departures on Tuesday, Thursday, or Fridays. **The room block closes on Friday, May 19, 2017.
9
meet Dennis
Dennis Sherrin is managing shareholder at Hartmann, Blackmon & Kilgore (hb&k). He currently serves on the ASCPA Board of Directors.
benefit plans and hospitality. At PKF, I worked with two individuals who I have spent my career working with: Vance Kilgore and Sally Wagner. Our audit partner, Prentice Ursery, introduced the concepts of risk-based auditing to me at a time when others were not considering it. Prentice taught me the very basic and highly-valuable concept of “finding the fastest way to do things right”. This lesson has echoed in my mind throughout my career. From there, I honed my experience in other industries such as manufacturing, governments and utilities with S.F. Parker & Company in Foley and Hartmann, Blackmon & Kilgore (hb&k), where I have spent the last 26 years.
Where did you grow up? I grew up in Fairhope and graduated from Fairhope High School. My parents were natives of Mobile who moved to Fairhope in 1951. As a child, I spent summers with friends either fishing or swimming in Mobile Bay. After school, we played sports (soccer and golf), participated in youth programs (scouts, Key Club, etc.) and did things most kids in a small town would do to entertain themselves. To this day, I appreciate my hometown and the opportunity this unique locale has offered my family, hb&k and myself.
How has your career path developed? Recently, I gave an interview for the CPA Consultants Alliance on my desire to become a shareholder 30 plus years ago versus what I view as the role of a shareholder now. There have been a lot of lessons learned the hard way and most were self-inflicted wounds. As I reflected on the past years, I realized I have spent my career trying to understand people better, while observing what I viewed as success, failure, leadership or a lack thereof. This has been a lifetime education program.
When did you decide on accounting as a career? As I recall, while in high school in the 1970s I heard the story of a local CPA who charged $75 per hour for his services and I thought that sounded pretty darn good. At that moment I said, “Accounting is the life for me!” The part about the CPA is true, the rest sounds good when I tell the story. The experience led me to learn more about accounting. From that research, I realized the opportunities someone could pursue with a background in accounting. So, I set a goal to earn a degree in accounting.
I look forward to helping others envision what “can be” while shortening their learning curve. I know I am teaching every day and I must make certain I am helping every person become more capable tomorrow. The future leaders of our firm are working with us now and I must prepare them to lead and understand they are teaching for tomorrow, too. I am excited to see our younger leadership put their stamp on our firm’s (and the profession’s) future.
Did you have a mentor in high school or college? There is a collection of individuals from whom I learned lessons that stay with me to this day. I believe everyone is teaching and everyone is learning everyday whether you want to or not. No doubt, my parents’ influence was the greatest. Dad was a WWII veteran and both grew up during the Great Depression. The positive way they always seemed to look at life’s challenges is what I appreciate most.
I see my career path as a work in progress, always learning, always improving, always looking for new opportunity and being ready for the next challenge.
Tell us about your undergraduate experience. Where did you attend college? I spent two years at Auburn University before completing my undergraduate studies at the University of South Alabama. I enjoyed my time at Auburn with many friends from Fairhope. However, I met a wonderful young woman back home and I wanted to be near the person I knew I would marry one day. The education I received from professors at South Alabama was incredible. Dr. Tom Wood’s intermediate accounting classes claimed many casualties, yet I relished the challenge he put forth and completed both sections one summer. The real lesson was understanding a problem can be solved in more than one way.
What have been the biggest changes in the profession during your career? While it seems everyone points to technology as the biggest change, I personally see the influence of multiple generations in the profession as the biggest change. When I started my career, we Baby Boomers were the vast majority of the workforce. Given the range of years included in our generation, we were the primary force for 20 years and the work mindset was driven by our own background. Since my career began in 1985, we have had two more generations enter the workforce, Generation X and Millennials. These generations are influenced and shaped by experiences often initiated by Baby Boomers but are different, in many ways, from how we Baby Boomers learn and operate. We Boomers have done things our way for so long, we thought our followers should too!
What did you do following graduation? I was fortunate to be hired by Pannell Kerr Forster (PKF) in their Mobile office. I started my career in January. There is no better time to start than tax season! After that first season, I hit the audit trail and over the next couple of years I worked with great people for great clients in a variety of industries including real estate, construction,
10
MEMBER PROFILE
How/why did you get involved with Kolbe and where has that led you? Kolbe is one of my favorite subjects. I enjoy understanding people and how that can help me help them. Our firm appreciates the guidance of outside advisors who greatly enhance the vision of hb&k. One of those advisors, Gary Boomer, suggested we take the Kolbe A survey. The Kolbe Index is the creation of Kathy Kolbe who has spent 40 plus years researching people’s natural way of doing things when free to act as they choose. Kathy Kolbe’s studies led to the development of Kolbe Index that explains one’s natural way of “doing”. After getting our results, I found myself fascinated with what those results told me. As a firm, we learned how these ways of “doing” varied among the shareholders and managers who first took the surveys. We were better able understood why some individuals start projects by researching, while others have to get organized and use information to create a game plan, while still others were brainstorming solutions and some were constructing a model/plan. We quickly realized the potential to enhance internal teams, create efficiency, increase morale and reduce workplace stress through the use of Kolbe surveys.
When we were raising our children, we taught them to seek, to understand, to look at things differently and to question doing things “the way we always have”. They certainly followed our advice! I think these outstanding individuals are doing incredible things and are better prepared for what lies ahead than we Boomers acknowledge. These leaders ask “why”, seek to find new ways of doing things and look for new opportunities. How we Baby Boomers can help is by coaching and mentoring. So, the workforce is no doubt the “biggest” change (and a positive one) during my career. What are the biggest challenges facing the profession right now? I see technology as the biggest challenge to the profession as we know it. The exponential rate of change in technology is a threat to many of the services we have traditionally made the core of our practices. The advent of the internet was the first wave. Then came the smart phone, cloud computing, social media, online banking, scanning technology, paperless workflow, etc. Now we have bank feeds, automated transaction management, automated expense management, remote workers, telecommuting, hosted environments, etc. Beyond that are blockchain and open ledgers. These new technologies continue to reduce the need for transactional-type accounting services. Blockchain could transform the need for audits and similar financial accounting services.
All our employees take the survey and get their Kolbe A result plus an interpretation of that result. Employees know other employees’ results and appreciate how others take action at work. Kolbe makes our firm better. Kolbe showed me that I prefer to take action by innovating, creating alternatives, brainstorming possibilities or experimenting to see what will happen. The nature of accounting work means I spend a good portion of my professional life working outside of my natural way of “doing”. Understanding my Kolbe result helped me realize that my lack of appreciation for routine checklists, procedures or the doing the same as the prior year was simply instinctive. To understand this reality and have the opportunity to find ways to accommodate my natural ways of doing, as well as helping others do the same, is very satisfying.
[Originally developed by Satoshi Nakamoto in 2008 and implemented the following year as a core component of the digital currency bitcoin, blockchains are an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.] While technology is the challenge, it can help us too. The collective knowledge of our professionals, with the utilization of technology, can transform service offerings to meet clients’ needs for deeper advising and coaching. As of now, technology has not been developed to emulate human nature. Our clients keep thinking and wondering “What if?”. Our profession is well prepared to help clients find the answers to those “What if?” questions. Internally, our ability to hire and retain talented leaders will be enhanced when we are able to clearly provide a vision (in full color) for our profession’s future, in spite of the threats brought by ever-changing technology.
My interest in Kolbe lead me to earn certification as a Kolbe Consultant. Now, I enjoy sharing what I have learned by helping other firms and businesses have an even better understanding of their employees, so they can build stronger teams and experience even better work environments. What other innovative resources have you used to engage your staff? Externally, a number of our staff participate in development and leadership programs from ASCPA, Boomer Consulting, the Advisory Board and AICPA. Internally, our strategic planning focuses much effort on initiatives to transform the way we practice. Staff are the key influence to bring ideas, create plans and carry out those plans. Current initiatives focus on reducing overtime, internal client service, recruiting, mentoring and onboarding. Our Lean Six-Sigma specialists have ongoing internal projects on tax and billing processes. In addition, we have standing committees for training, technology, firm future and extracurricular activities. Nearly, all committees are staff-lead and staff-driven.
What has surprised you the most as your career has evolved? I would say how varied my experiences have been in terms of the work I have performed. It has been so little about the “numbers” and is so much more about the “words”. Second, I was surprised I remained in public accounting my entire career. Don’t get me wrong, I don’t regret the choice to remain in the profession. In my college days and early career, I envisioned being in the corporate world in a leadership role. In reality, I am in that role in a professional practice. I love what I have the opportunity to do each and every day. I get to help others set goals, look to the future and plan for what’s next and work to get there. I enjoy the challenge placed on me by my fellow shareholders and our employees to help us be even better than we were today.
11
TWO RECENT SALES/USE TAX CASES OF INTEREST TO MANUFACTURERS AND THEIR CPAS William L. Thompson, the well-respected Chief Judge of the Alabama Tax Tribunal and former Chief Judge of the Alabama Department of Revenue’s Administrative Law Division, is set to retire around May 1 (with a 3 month transition period), after serving as Alabama’s lone tax judge for the last 34 years until quite recently, when former Legal Division attorney and Tax Policy Division expert, Christy Edwards, was appointed to succeed him. In his final few months on the bench, he has issued two key rulings that will have widespread application to manufacturers and contractors in Alabama. The first focused on the ingredient/component part exclusion and the second on the so-called contractor provision. Both confirm Judge Thompson’s familiar refrain “that the seemingly simple sales tax is sometimes one of the most theoretically difficult taxes to correctly apply and administer.” Ingredient or Component Part Exclusion In Ipsco Steel (Alabama), Inc. v. State Dep’t of Rev., Ala. Tax Trib., Dkt. No. S. 07-370, 10-269, 11-564, and 12-1435 (Feb. 23, 2017), Judge Thompson was asked to consider multiple issues involving refund claims that the Alabama Department of Revenue (the “Department”) denied. The most important issue centered on whether certain work and coiler rolls become ingredients or component parts of the steel the tax-
payer manufactured and thus exempt from sales tax on their purchase. Tangible personal property that is purchased by a manufacturer and enters into and becomes an ingredient or component part of the final product manufactured for sale may be purchased at wholesale, tax-free, for both sales and use tax purposes. See Ala. Code §§ 40-23-1(a)(9)b and 4023-60(4)(b), and Ala. Admin. Code r. 810-6-1-.80(1). In order to qualify for the ingredient/component part exclusion, the tangible personal property purchased by the manufacturer must be present in the final product and its cost must not be deducted as depreciation or as an I.R.C. § 179 expense on the manufacturer’s Alabama income tax return. Ala. Admin. Code r. 810-61-.80(2).
The Department denied the taxpayer’s refund petition, claiming that the taxpayer failed to present sufficient technical and/or scientific evidence to show that parts of the rolls became an ingredient or component part of the steel products or the mill scale. While it’s common for taxpayers claiming a refund of sales/use tax paid on materials pursuant to the ingredient/ component part exclusion to provide a lab report or other technical study to establish that some portion (even microscopic) of the materials remain in the finished product, the taxpayer in Ipsco produced no such evidence. The only evidence presented in this case appears to have been the testimony of the plant manager that the rolls “wear off” while in contact with the steel being manufactured, and that miniscule parts remain in the finished steel.
The work and coiler rolls at issue in Ipsco are parts of machines the taxpayer uses to produce steel products. Specifically, the rolls come into contact with and are used to shape the raw steel into the thickness specified by the taxpayer’s customers. The taxpayer argued that parts of the rolls become an ingredient or component part of either the steel products or the residue mill scale, both of which are subsequently sold by the taxpayer. Thus, the taxpayer requested a refund of the sales tax it originally paid when it purchased the rolls.
Judge Thompson apparently found that testimony to be persuasive, ruling that “[t]he evidence is sufficient to find that the rolls wear during the manufacturing process, and that parts of the rolls become an ingredient or component part of the steel or mill scale.” He further reiterated his holding in Carlisle Engineered Products, Inc. v. State Dep’t of Rev., Admin. Law Div., Dkt. No. U. 99-524 (Aug. 28, 2000), aff’d, Tuscaloosa County Circuit Court, CV-2001000009 (Sept. 6, 2002), that “Alabama law does not require that the Taxpayer must have intended that the rolls be-
12
STATE AND LOCAL TAX UPDATE FROM THE BRADLEY LAW FIRM come a part of the steel products or mill scale for the ingredient or component part provision to apply.” However, the Judge denied that portion of the refund claim related to the coiler drum rolls because they had a useful life of more than one year, and were thus depreciable. We understand that the private auditing firm, Revenue Discovery Services (RDS) previously known as AlaTax, has filed an amicus brief in Ipsco to clarify the evidentiary standard necessary to establish whether materials remain an ingredient or component part of the finished product. The Judge’s eventual ruling on that issue could significantly impact the documentation required to verify refund claims filed in the future. The Contractor Provision In AkzoNobel Functional Chemicals, LLC v. State Dep’t of Rev., Ala. Tax Trib., Dkt. No. S. 15-1278 and County 16-107 (Mar. 23, 2017), Judge Thompson considered whether a manufacturer owed use tax on the price of materials comprising a machine it used in its manufacturing operations, or if the liability rested with the contractor who initially purchased the materials and fabricated and installed the machine.
girders are attached to and support the structure and stairways on each side of the structure. The structure is built to withstand a category 3 hurricane. It is not designed to be moved and can’t be moved intact.
The Converter is a circular structure approximately 22 feet in diameter and 4 stories, 45 feet high and weighs approximately 110 tons. It is bolted to concrete supports and pilings that are buried into the ground. Steel
Here, the parties agreed that the converter was an integral part of and used in AkzoNobel’s manufacturing process. However, under current Alabama law, it is irrelevant that the structure or machine involved is subsequently used in the manufacturing or production process if the contractor provision applies.
AkzoNobel paid Alabama and local use tax on the material cost of the converter but later requested a refund, claiming that the converter was attached to realty, and thus the company who fabricated and installed it should have paid the tax on the materials pursuant Judge Thompson concluded that the to the so-called contractor provision. “converter is a permanent part of reThe Department denied AkzoNobel’s alty by its weight and size alone” and that “it is also attached to the realty by bolts and a steel support structure.” Thus, he ruled that the contractor – not AkzoNobel – was the party that used the materials in fulfilling its obligation to construct the converter. Accordingly, the Judge awarded AkzoNobel a refund of the state and local use tax it erroneously paid on those materials.
William T. Thistle, II and Bruce P. Ely Bradley Arant Boult Cummings LLP
AkzoNobel manufactures chemicals at a plant located near Mobile. It engaged a North Carolina-based company to fabricate and install a sulfuric acid converter for use at its plant. The parties stipulated to the following description of the converter:
other words, prior to the advent of the machine rate, a product could not be both a machine and a building material.
refund claim, arguing that the contractor provision could not apply because the converter is a machine used in manufacturing, and thus was taxable to AkzoNobel at the reduced (1.5%) machine rate. The Department’s position may have been based on old case law arising from a former statutory regime in which there was no machine rate. Previously, machines purchased for use in manufacturing were statutorily exempt from sales/use tax, but building materials purchased by contractors were statutorily taxable. In 13
This case serves as a reminder that the way Alabama case law addressing sales and use tax has developed, virtually anything that’s bolted down and intended to remain in place is considered to be attached to real property, including many items that are not commonly considered to be attached. As a result, contractors frequently (and incorrectly) charge their customers sales tax on materials that they purchase and install. Thus, at the outset of any project in which a company is acquiring equipment that will be installed by a third party, the parties should carefully consider who will owe the sales or use tax on the materials. © William T. Thistle, II/Bruce P. Ely/ Bradley Arant Boult Cummings LLP/April 2017. The authors’ next sales, use and rental tax course for the ASCPA will be held on August 22, 2017 at the Pelham Civic Complex.
MEMBER NEWS CONGRATULATIONS John Appleton, audit senior at Deloitte & Touche, has been appointed to the Red Mountain Park’s Junior Board of Directors. He’s a graduate of Auburn University with both undergraduate and master’s degrees. He interned with Deloitte and joined them following completion of his graduate degree. __________________
Cherion Sibley and Donny Donald have been named members at Barfield Murphy Shank & Smith. __________________
Jackson Thornton announced that J. Robin Short was
recently selected as the recipient of the Henry T. Hagood Associate of the Year award by the Alabama Chapter of the Associated General Contractors of America. The award was established to recognize exceptional service to the state AGC Association. Short is a principal in the firm’s Dothan office. __________________
Warren Averett’s Hanny Akl was named to the board of directors of the Alabama Chapter of the Juvenile Diabetes Research Foundation. Akl leads the firm’s Transaction Advisory Services practice, which focuses both on buy-side and sell-side transactions along with advising owners on creating value within their businesses. He is an active member (and former learning coordinator) of the firm’s Technology and Life Sciences Client Service Group where he is the firm’s expert on software revenue recognition and other technical topics. Akl began his career in the audit practice of Ernst & Young. He received his bachelor’s degree in accounting at the
University of Alabama at Birmingham, graduating summa cum laude, and has a master of accounting degree from the University of Virginia. He holds the CFE, CEPA and CVGA designations. __________________
Mostellar & Shreve, LLP recently welcomed Ann Bowers as a partner in the firm. Bowers has been with the firm since 1992. She has more than 25 years of experience and specializes in tax and accounting services including individual, business and estate and gift taxation as well as audit and attestation engagements. Bowers is a member of the Mobile Estate Planning Council. She is a 1988 graduate of Baylor University. __________________ Matt McDaniel, senior accountant at Carr Riggs & Ingram, has earned the certified information technology professional (CITP) designation. McDaniel holds both undergraduate and master’s degrees from Troy University. He was a recipient of an ASCPA Educational 14
Foundation scholarship in 2010. He has also earned the certified fraud examiner (CFE) credential. __________________
Wilkins Miller LLC announced that W. Allen Carroll, Jr. CPA/ ABV, CFF, CVA, a partner with the firm, has been appointed to serve on the University of South Alabama Foundation’s Board of Directors. Carroll is a graduate of the University of South Alabama with a degree in accounting. His experience is vast with a primary concentration in litigation services and consulting, including business valuations, tax, multiple, state wholesale distributors, multiple state manufactures, maritime, real estate developers and income tax, as well as estate planning. __________________
Rodney Bone has been
promotion to chief financial officer of First Southern Bank and operates in their in Stevenson office. He is an Auburn graduate and has attended Community Banking School at Samford University and the Alabama Banking School in Mobile. He is a member of the Scottsboro Lions Club and a graduate of Leadership Jackson County. __________________ WHAT’S GOING ON OUT THERE?
Top 25 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI) has merged with southeast Florida firm Proctor, Crook, Crowder & Fogal. Office locations in Martin, St. Lucie and Palm Beach counties now operate under the CRI name. Proctor, Crook, Crowder, & Fogal has been performing accounting, auditing, wealth management, and business valuation services throughout Florida since 1974. Joining CRI allows the team to provide specialty services – such as cost segregation studies and risk assessments – that complement their current service offerings. Furthermore, through CRI’s portfolio companies, the firm can now grant clients
access to investment banking and wealth management, as well as IT audit specialty services related to SOC reporting, PCI, FISMA, and ISO. __________________ Birmingham-based Warren Averett Asset Management and Kinsight have joined forces to create the largest fee-only financial planning and investment advisory firm in Alabama, with combined assets under management in excess of $2.2 Billion. Kinsight will operate under the name Warren Averett Asset Management,
and will maintain their location off Lakeshore Drive in Birmingham. __________________ Hartmann, Blackmon & Kilgore has merged with 55 year old Gibbons Company of Mobile. The merger will add a Mobile office to hb&k’s locations in Fairhope, Brewton and Foley.
Congratulations to Opelika firm Hilyer and Associates on their new location.
Fastest smartest malpractice insurance. Period.
800.906.9654 GilsbarPRO.com 15
SUCCESSION PLANNING: A TALE OF TWO EXIT STRATEGIES BY STAN STERNA, JD AND AMY MASSARO Succession planning is a major area of concern for CPA firms. With baby boomers hitting retirement age, the following statistics underscore why it is such a compelling issue to the profession: • The average age of a CPA in the U.S. is 551 • 75% of CPAs in the U.S. will be at or near retirement by 20192 • 84% of firm owners expect succession issues to become a major concern within 10 years3 • While 100% of firms with 200+ employees have succession plans, only 23% of firms with 1-8 employees have plans in place4 Small firm owners mistakenly assume they will be able to fund retirement by selling their practice. It’s a little more complicated than that. This article seeks to provide insight into two common types of succession plans. TRANSFER OF OWNERSHIP This form of succession planning involves the sale of your practice to a partner or outside accountant. While this is the preferred method of succession for smaller firms, it comes with certain challenges. LEADERSHIP DEVELOPMENT This exit strategy hinges on the development of a competent successor. Over the next 5 years while 35% of CPA firms are expected to transfer ownership, only 26% have formal mentoring programs in place.5 Whether they will come from within or outside the firm, identify your successor early on and determine what is needed to ensure their success.
Your succession plan should spell out how you will prepare your successor to take control of the practice, such as thorough training in areas like client development, management, handling conflicts, etc. PROLONGING RETIREMENT A common roadblock to a successful transfer is not knowing when to let go. Forty-six percent of CPAs say they plan to work after they reach age 65.6 By continuing to work full or part-time, many CPAs defer transition because they are unable to relinquish control of their clients. This eventually leads to tension with their successor, causing them to seek employment elsewhere. Specify the timing of events within your succession plan. Include a timetable to transition your clients to your successor, your plan for reducing your hours and your retirement date. CREATING AN EQUITABLE PLAN While large firms have finance and human resource departments, partners at small firms are primarily responsible for these functions. When an owner holds all the reins, they are often less inclined to provide their designated successor within the firm the requisite compensation to be able to buy them out. Rather than creating a lasting legacy, you may be guaranteeing your firm’s ultimate demise if your successor cannot meet the payment terms. The successor needs to feel the plan is a good deal for them. Formalize the process for the delegation of responsi16
bilities and the commiserate salary that goes with them. Develop a fair and equitable payment plan that is achievable and agreeable to all parties. SALE OR MERGER Nearly half of sole practitioners nearing retirement indicate their plan is to merge or sell their practice to another firm. Yet, only 7% have such a plan in place.7 With high number of CPAs retiring in the next five years, the competition to sell or merge will increase, making it a buyers’ market. Without a succession plan in place, waiting to the last minute could result in receiving less than expected for your practice. FIRM VALUATION When selling or merging your practice, the first step is having an idea as to the value of your firm. The AICPA PCPS Succession Resource Center offers several tools that can help: PCPS Succession Readiness Assessment, PCPS Succession Timing Calculator and the podcast, How Firms are Valued for Sale. DUE DILIGENCE Once you determined you want to sell or merge, use the intervening time before the transition to do due diligence. Assess whether your client mix and fee structure will work well with the new firm. Analyze their technology, processes and address issues with difficult clients. Consider steps can you take to further enhance your firm’s value. Use the PCPS Quick Start Guide, Due Diligence Guide and the PCPS podcast, First Three Steps in Creating Your Succession Plan, for guidance. NOTIFYING CLIENTS A sale or merger will have a considerable impact on your staff and clients. Keep them apprised of your plans and allay any misgivings they may have. This can help ensure they stick with the new firm, which can have a bearing on your payout. Send a letter to your clients letting them know you are committed to making sure their needs will continue to be met. For your longest and most lucrative clients, set up a face-to-face meeting to answer any questions they might have. The PCPS Succession Planning Resource Center provides letter templates and additional advice that
can help you manage this process. INSURANCE CONSIDERATIONS Professional liability coverage is also an important consideration. Most policies are written on a ‘claims-made and reported’ basis. For coverage to exist, claims must occur and be reported during the policy period. If someone alleges an error or omission in the rendering of professional services after the CPA has discontinued their practice and canceled their professional liability policy, most policies provide a “grace period”
(often 60 days). However, claims reported after this short grace period can be denied. Do not cancel or allow your professional liability insurance to lapse for nonpayment of premium after you retire or end your practice. Consider adding an Extended Claim Reporting Period (ECRP) endorsement to your policy. Known as ‘tail coverage’, an ECRP provides coverage for claims involving services rendered before the policy expired, but reported after you have retired or stopped practicing. ECRP endorsements spanning one to five
years are available in most states. The AICPA Professional Liability Insurance Program rewards long-term policyholders by providing “tail coverage” at no charge after seven consecutive years of Program participation. __________________________________ Stan Sterna, JD is Vice President, Risk Management and Amy Massaro is Vice President, Business Development at Aon Insurance Services. Aon has been the endorsed administrator of the AICPA Professional Liability Insurance Program since 1974. To learn more about the AICPA Program, visit www.cpai.com.
______________________________________________________________________________________________________________ LBA Haynes Strand, “Merging Accounting Firms - Why CPA Firms Are Merging at a Rapid Rate,” www.lba-cpa.com, June 16, 2014. Ibid. 3 AICPA, “CPA Firm Succession Management: Multi-Owner Survey Report,” Private Companies Practice Section, 2016, pg. 6. 4 Ibid, pg. 5. 5 Ibid, pg. 7, 36. 6 Ibid, pg. 11. 7 Ibid. This article is provided for general informational purposes only and is not intended to provide individualized business, risk management or legal advice. You should discuss your individual circumstances thoroughly with your legal and other advisors before taking any action with regard to the subject matter of this article. Only the relevant insurance policy provides actual terms, coverages, amounts, conditions, and exclusions for an insured. 1 2
The AICPA-endorsed CPA Value Plan provides industry-leading professional liability insurance that gives you the freedom to delve into new areas of practice with the confidence your firm is covered. Program features include:
• Coverage specifically designed for small CPA firms
GROW YOUR FIRM
• Limits from $100,000 to $2 million for qualified firms • A variety of credits to help reduce your premium • Optional CPA NetProtectSM for cyber network damage claims and privacy breaches* • Subpoena assistance, regulatory proceedings coverage, and more
Apply online today at cpai.com/grow
WITH CONFIDENCE
or call 800.221.3023 Endorsed by:
Underwritten by:
Brought to you by:
*CPA NetProtectSM is offered for an additional fee as part of the AICPA Professional Liability Insurance Program. Aon Insurance Services is the brand name for the brokerage and program administration operations of Affinity Insurance Services, Inc. (TX 13695), (AR 100106022); in CA and MN, AIS Affinity Insurance Agency, Inc. (CA 0795465); in OK, AIS Affinity Insurance Services Inc.; in CA, Aon Affinity Insurance Services, Inc. (CA 0G94493), Aon Direct Insurance Administrator and Berkely Insurance Agency; and in NY, AIS Affinity Insurance Agency. One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. “CNA” is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the “CNA” trademark in connection with insurance underwriting and claims activities. Copyright © 2017 CNA. All rights reserved. E-12399-517 AL
17
The Audit Research Summary Database: A free resource connecting practice with academia
The Auditing Section of the American Accounting Association has developed the freely available Audit Research Summary (ARS) Database, which contains executive summaries of approximately 700 auditing research studies that have been published since 2005. The summaries are organized topically, key-word searchable, and written to facilitate quick and easy consumption, avoiding academic jargon and statistical analyses. The database is intended to disseminate research findings to key audit stakeholders in a timely manner and to foster a productive dialog about issues facing the profession, and allows professionals to connect directly with academic researchers, providing professionals with an opportunity to influence and inform the academic research agenda so that future research can address these issues. Each summary addresses an important question facing the audit profession. For instance, with respect to audit quality (a very relevant and timely topic), summaries address: Is self-regulated peer review effective at signaling audit quality? Does audit partner rotation impair or improve audit quality? Are there mechanisms that can strengthen auditor independence regardless of auditor tenure? How do auditors develop technical knowledge? How can firms improve the detection of errors in audit workpapers? How do alternative review methodologies affect auditor performance? Research addressing these (and other) questions provide audit professionals and stakeholders with key insights for improving audit quality. The database delivers access to cutting-edge knowledge related to a number of topical areas beyond audit quality, providing opportunities for continual learning and professional development.
Navigating the Auditing Research Summary Database The ARS Database is freely available online at www.AuditingResearchSummaries. org. Practitioners have two options to find research related to their interests. First, they can browse the ARS Database categorically, beginning with 15 general research areas, depicted in Figure 1. Selecting a general category (e.g., Audit Quality and Quality Control) provides access to all of the research associated with that topic. Hovering over a general category will provide a list of relevant subcategories (for Audit Quality and Quality Control, subcategories include Supervision and Review – Effectiveness; Working Paper Review – Conduct, Biases and Predispositions; Attempts to Measure Audit Quality; and Impact of Firm and External Inspection Programs; see Figure 1). Clicking on the subcategory allows users to browse all of the research that has been summarized for a particular topic (see
Table 1 for a complete list of general and subcategories). Alternatively, users can employ the search function to view all of the research related to a particular topic or author. For example, if users are interested in the effects of the DoddFrank Act, they can simply type “DoddFrank” in the search bar. Once users find a study of interest, they may click the title to transition to the research summary. Each summary presents critical information about the paper, including: (a) the paper’s title, (b) a concise description of the practical implications arising from the research, (c) the formal citation, allowing individuals to find the original article, (d) descriptions of the study’s purpose and its methodology, and (e) the key findings. Research jargon and the underlying statistical analyses are purposefully omitted. Figure 2 presents a sample summary. In addition, a video walkthrough of the database is available on the ARS YouTube channel. Fans of
Figure 1: A Graphical Depiction of the ARS Database Topical Areas Subtopics: • Supervision and Review – Effectiveness • Engagement Q uality Review – Process and Effectiveness • Management/Staff Interaction • Industry Experience • Training and General Experience • Working Paper Review – Conduct, Biases and Predispositions • Attempts to Measure Audit Quality • Proxies for Audit Q uality • Evaluation of Evidence • Impact of Quality Reviewers • Impact of Firm and External Inspection Programs • Impact of National Office on Auditor Decisions • Partner Incentive Schemes
18
Figure 2: Example ARS Summary 2: Example ARS Summary Figure
“The Office” can follow this link to the full ‘uncut’ version (approximately 7 minutes): https://goo.gl/6fbTTw. Alternatively, the shorter (and less humorous) 3-minute version is available here: https://goo.gl/yQ25v5.
Using Social Media to Stay Connected
The ARS Database is constantly updated with new summaries of cutting-edge academic auditing research. As the database grows, it may be difficult for
users to identify the latest summaries. To address this issue, the Communications Committee of the AAA’s Auditing Section maintains a Facebook page (https://goo. gl/6JcP2W), a LinkedIn company page (https://goo.gl/9xHvRT), and a Twitter feed (@AuditResearch or https://goo. gl/Igpii8) to keep interested users apprised of newly created summaries, and to provide links other interesting database content. These social media platforms allow users to stay up-todate on auditing research by integrating 19
update notifications into users’ existing social network. Several times a week, the social media accounts post a teaser and link to the relevant ARS summary. For example, one post asks, “How does an apology influence assessments of auditor punishment and reputation following an audit failure?”, and includes a direct link to the relevant summary (http://goo.gl/xkTsKM). “Throw-BackThursday” posts provide links to audit research summaries that have generally been published between 2005 and 2012.
Conclusion
The ARS Database is intended to facilitate practitioner access to cutting-edge knowledge about the audit profession and to foster a productive dialog between academics and practitioners about issues facing the profession. Practitioners can visit the ARS Database online or follow the database on social media to familiarize themselves with the latest academic auditing research. In addition, they can become more involved in the research process, which should allow academic researchers to: (1) identify and target topics that currently affect practitioners, (2) convey new knowledge that may influence day-to-day behavior in the profession, (3) provide useful information to guide regulators and policy-makers, and (4) identify participants for future studies. This will allow academics to continue to generate new knowledge that will contribute to the healthy evolution of the audit profession.
about the authors Dr. James H. Long, CPA, CGMA, CIA, ABV, is an associate professor of accountancy in the Harbert College of Business at Auburn University. He was graduated from Auburn with both undergraduate and graduate degrees in accounting. He worked as a staff auditor/senior staff auditor with Atlanta firm Gifford, Hillegass & Ingwersen and as an internal audit manager with National Vision before completing his Ph.D. at Virginia Tech. Long returned to teach at Auburn. He’s currently completing a Fulbright scholarship in Hungary.
Dr. Chad Stefaniak, CPA is an Associate Professor and Cramer Research Fellow at the University of South Carolina. He primarily focuses his research on improving audit quality and the effects of regulation on auditor decision-making.
Dr. Jennifer Mueller-Phillips, CPA is the KPMG Professor and Director of the School of Accountancy in the Harbert College of Business at Auburn University. Jennifer earned her BS in Accounting from Jacksonville State University and two graduate degrees from Virginia Tech. She is in her 17th year on the Auburn faculty.
James H. Long, CIA, CGMA, CMA, CPA/ABV, Ph.D.* Associate Professor & Atlanta Alumni Fellow Auburn University School of Accountancy (334) 844-6214 JamesLong@auburn.edu Jennifer Mueller-Phillips, Ph.D. KPMG Professor & Director Auburn University School of Accountancy (334) 844-6219 jmp@auburn.edu Chad Stefaniak, CPA, Ph.D. Associate Professor & Cramer Research Fellow University of South Carolina (803) 777-7408 Chad.Stefaniak@moore.sc.edu *Primary contact author ________________________________________ (See page 34 for more information about the Audit Research Summary Database)
20
Educational Foundation Chair: “Our work is not done.” As a CPA and firm owner, I know the anxiety that our members are facing every year when we look to the future of our profession. Strategic planning for our firms cannot be complete without a plan for bringing in these bright accounting students and turning them into the professionals that will continue our firm legacies into the future. Your commitment to the 2011 Fortune Forward Capital Campaign has made it possible for the ASCPA’s Educational Foundation to award over $77,000 in scholarships for the 2017/18 academic year. That’s an impressive sum. The Educational Foundation Board is committed, driven, and innovative in coming
up with new ways to leverage our position in the academic community to attract talented students into our profession. And thanks to our contributors, like you, we can continue to
make it possible, and even expand the efforts, to support and inspire the professionals of tomorrow. Stand with me as we move forward. Make an annual donation to the Educational Foundation and encourage colleagues to do so. Only 7% of ASCPA members make a contribution with their dues statements each year. Increasing this to even 25% of the membership would make a profound difference. Take a look at 2016/17 scholarship recipient Josh Daniel’s brief video at www.ascpa.org/donate and make a contribution today. Thank you, Gerald Pentecost, CPA
LET’S ALL WORK SMARTER USING Shanna Jackson, ASCPA VP Membership and Website Administration The very purpose of member organizations is to bring together like-minded people to elevate awareness, to promote education and to provide the best industry standards. The Alabama Society has many ways of doing this, such as in-person events, through webinars and on-line education, during board meetings and committee conference calls. But technology now offers another way of getting help, offering advice and maintaining close contacts with colleagues: on-line communities. And you don’t even have to leave your desk! The ASCPA, with the approval of your Board of Directors, has contracted with Higher Logic to build a platform for greater engagement of Society members, called CONNECT. These members only online communities will offer a secure environment in which to learn from each other, to share ideas, and to ask questions of other CPA professionals. While having access to these communities will benefit all ASCPA members, it will serve as a tremendous resource for smaller public accounting firms, for industry members (who tend to be the only CPA at their organization) and for other distinct member niches. “Who ya gonna call?” It’s not Ghostbusters, it will be your ASCPA online
community on CONNECT! The feedback that we’ve gotten over and over again from graduates of Leadership Academy is that they now have a bank of colleagues who are especially valuable because they are not working in the same firm. A private community could continue discussions begun during their year in Leadership Academy. In addition, prospective members will see an engaged and active community with a wealth of knowledge that they can tap into and a network of established peers as professional resources. They will only get a peep at these riches, however, until they are ASCPA members.
How will it work? The ASCPA will work closely with Higher Logic to maximize the ease of use and creation of communities. There has already been an intensive three months of development behind the scenes. Two beta groups were formed in mid-January for the additional 4-8 weeks of testing necessary to ensure proper integration of the database and other components. Once that is complete, other groups will come on board, starting in mid-April.
22
What will it do?
There will be discussion areas or threads for all of the communities. The individual communities can be public or private. They can be comprised of, for example, the ASCPA Board of Directors, the YCPA Cabinet, any of the standing committees of the ASCPA, chapters and current task forces. Communities can also be created around a shared interest or common topic. There will be a permanent on-line library created with documents that members wish to share with each other. Members can search for other members with specific credentials or expertise. They can invite those members to join or create new groups. Higher Logic is a platform which can be tremendously dynamic, but it will require that you take advantage of it. Options for how you’d like to be updated on discussions will be many, including a daily digest of what’s new in your communities. Come along on this new adventure for the ASCPA. Be prepared to share, learn and grow. As the program rolls out there will be more articles inviting you to join a community, suggestions on ones you can create and reports from the field on how Higher Logic has already provided value to ASCPA members.
FASB POSTGRADUATE TECHNICAL ASSISTANT PROGRAM The Financial Accounting Standards Board sponsors a postgraduate technical assistant program twice a year (programs commence in summer and winter) for individuals who are planning a career with an emphasis in accounting. Each program is a one-year term, during which the individual becomes highly involved with the accounting standardssetting process and comes to have an in-depth understanding of the roles played by preparers, auditors, and users of financial information. Responsibilities Postgraduate Technical Assistants will be assigned to major agenda projects or to short-term practice and implementation issues, depending on the need for staff assistance. Postgraduate Technical Assistants will be involved in all phases of their assigned projects, including analyzing written submissions received on documents issued for public comment, reviewing and analyzing published research, preparing memorandums on technical issues for Board members’ information, drafting due process documents, and evaluating accounting proposals of other organizations. Additionally, Postgraduate Technical Assistants will attend and occasionally participate in public Board, task force, and other meetings pertinent to their projects. Qualifications Candidates for the internship program must be nominated by a member of their schools’ accounting departments and approved by the dean or department chairperson. Candidates must be enrolled in a graduate program in accounting at the time of
their nomination. Candidates must have an outstanding academic record, strong oral and written communications skills, and have completed course work that provides a thorough knowledge of accounting theory and practice. UAB MAcc students Chase Lewis and Latei Iyegha were two of 28 finalists selected from a national applicant pool this spring. They were flown to Norwalk, Connecticut and interviewed in 8 back-
to-back sessions (“By the end, I would have told them anything”, said Chase). While they were ultimately not selected for one of the 13 open positions, being recognized as a finalist is indicative of their excellent academic standing and the support they’re receiving at UAB. Lewis is president of Beta Alpha Psi and Iyegha was a recipient of an ASCPA Educational Foundation scholarship last year.
The “Uber” of the Accounting Profession CONNECTING ACCOUNTING FIRMS
WITH
ON DEMAND EXPERTISE
For Accounting Firms Accounting
.............................................................................
Tax Compliance
.............................................................................
For CPAs Flexible Opportunities
Tax Engagement Review
............................................................................................
Attest
............................................................................................
Engagement Quality Control Review
............................................................................................
Fraud & Forensic
............................................................................................
Engagement Proposals
............................................................................................
............................................................................. ............................................................................. ............................................................................. .............................................................................
Earn Additional Income Expand Your Skills
Start Your Own Practice
Work Toward Purchasing an Existing Practice
.............................................................................
Internal Control Consulting
.............................................................................
Growth Strategies
.............................................................................
(844) 299-8119 steve@leaseacpa.com www.leaseacpa.com
23
Modern Long-Term Care Insurance John F. King
CLTC, Managing Partner LTCi Plans, LLC
Bob Stallworth
Senior Account Executive LTCi Plans, LLC The Long-Term Care Insurance industry has experienced growing pains through its early decades. However, after more than 40 years these seem to be a thing of the past and the future looks very positive. Based on the factors listed below, the volatility of the past has been replaced with greater stability and certainty. Now is the perfect time to reevaluate (for both yourself and your clients) the need for protection against the rapidly growing expense of long term care.
Past Rate Increases
You have all heard, or experienced, horror stories about devastating increases in longterm care insurance (LTCi) premiums over the last few decades. Unfortunately, many of these stories are all too real. When LTCi was introduced into the market a few decades ago there was no actuarial history and little or no regulatory authority. These limitations resulted in a great many improper assumptions which resulted in unrealistic premiums that could not be sustained. This instability has caused many of you to neglect or at least postpone evaluating this critical protection for yourselves and your clients. Take a second and consider the history of insurance‌ ancient Babylonians had a form
24
of merchant marine coverage thousands of years ago. Property and casualty has been with us since the Great Fire of London in the 1600’s and life insurance since the 1700’s. Given time and experience, actuaries have found the right combination of pricing and underwriting for modern LTCi plans. So, today the picture has dramatically improved. Add the clarification of terms, couple much needed oversight, and a mountain of uncertainty has been moved in the LTCi industry. A few legislative acts and insurance department regulations have resulted in better tax treatment, simplified claims, and significantly more rate stability. Consumer Protection Legislation The first major step toward improving the situation came with the HIPAA legislation in
1996. This federal legislation set guidelines for what constituted qualified LTCi. As a result policies were required to meet certain standards to become a qualified LTCi policy. HIPAA stated that benefits paid by a qualified LTCi policy were treated as reimbursement for health services and non-taxable up to the cost of services provided. HIPAA also made very clear the triggers required for filing a claim. The two requirements to receive benefits are: (1) a plan of care prescribed by a licensed health care practitioner (i.e. your own doctor) and (2) and that the recipient be a chronically ill individual. HIPAA defined chronically ill to mean: (1) being unable to perform (without substantial assistance from another individual) at least two activities of daily living (activities of daily living are: eating, toileting, transferring, bathing, dressing and continence) for a period of at least 90 days due to a loss of functional capacity, or (2) requiring substantial supervision to protect such individuals from threats to health and safety due to severe cognitive impairment. This clear definition has resulted in much easier and faster claims with negligible contestability.
premiums and especially in regard to future premium increases. All LTCi policies submitted to the Alabama Department of Insurance for approval after July 1, 2006, must meet the Department’s specific guideline in order to be approved. Among these requirements is an actuarial certification containing a statement that the initial premium rate schedule is sufficient to cover anticipated cost under moderately adverse experience and that the premium rate schedule is reasonably expected to be sustainable over the life of the form with no future premium increases anticipated. If an insurance company requests a rate increase on a policy approved after July 1, 2006, it must submit a new actuarial certificate stating that under the new rates, which reflect moderately adverse conditions, no further premium rate schedule increases are anticipated. These increases must receive approval of the state insurance commissioner.
Tax Qualification
An additional benefit of HIPAA is that it spelled out very specific guidelines for the tax treatment of LTCi premiums for both individuals and businesses. Potential tax deductions are available for everyone and are especially attractive for individual practitioners, small businesses, and C Corps. Many CPAs and some of their clients are qualified to treat LTCi premiums for themselves and their spouses as a pre-taxed business expense. Unlike long term disability (with tax advantages either coming or going) those who qualify can deduct all or part of their LTCi premiums and still retain tax free benefits! Also, the state of Alabama allows for LTCi premiums to be treated as an itemized deduction. The only requirement is that the policy meets the HIPAA requirements of a qualified policy.
Rate Stability
In 2006 the Alabama Department of Insurance issued new regulations spelling out very specific regulations concerning LTCi 25
Final Fact
The Long-Term Care insurance industry pays over $8 Billion per year in claims.*
Learn More
If you would like to learn more about how to better serve your clients (or to take advantage of your ASCPA LTCi discount) please email us at: ascpa@LTCiplans.com. You may also request to receive our 2017 guide to Tax Breaks & Incentives for Long Term Care Insurance Federal and State by visiting: www.ascpaLTCi.com or by calling us at: 1(888)915-3197.
*American Association for Long-Term Care Insurance - February 10, 2017
(continued from “Meet Dennis” page 10) ________________________________________ What prompted you to become a member of the ASCPA? Upon passing the CPA exam, the firm encouraged me to join ASCPA and they reimbursed my annual dues. Supporting an organization who exists to support and protect my chosen profession was a no-brainer.
loved every trip, regardless of the destination. For the past few summers, my younger son and I have experienced numerous high adventure scouting activities from New Mexico to Minnesota to Florida. We have backpacked in the Rockies, canoed in the Boundary Waters (Minnesota) and snorkeled in the Florida Keys, among other things. My wife and I enjoy taking free days before or after conferences I attend to experience the local scene. There are so many places to visit in this country, our bucket list is quite long.
How does membership benefit you as a CPA? ASCPA offers members so many benefits to enhance our capabilities as professionals and people. The education options are extensive. The informational communications help me be aware of important local and national issues. The advocacy for our members at the state and national level is something a single firm cannot do. Being a member, I had the honor to become an ASCPA board member. In that role, I have developed an even greater appreciation for the dedication and skill of the leadership within this organization.
What keeps you up at night? The question that comes to mind is: am I doing enough to prepare our firm for the future and providing our employees opportunities they want to pursue? Tell us about your family. 34 years ago, I met a wonderful woman who caused me to transfer back home to finish my college education. Amy Parsons Sherrin and I were married 31 years ago. Amy holds bachelors and master’s degrees in nursing and nursing administration/education. After many years working in the nursing profession, Amy now teaches nursing at a local college. We have two sons Kyle (26) and Kody (19). Kyle was the captain of his 6A state champion soccer team, earned dual bachelor’s degrees from Birmingham-Southern, currently works in the Aid Research program at UAB and will pursue his MBA next year after getting married this fall. Kody is a freshman at Troy University, an Eagle Scout, has visited every national high adventure base the Boy Scouts of America operates (he took Dad along) and will spend this summer working at Philmont National Scout Ranch in Cimarron, New Mexico.
What keeps you inspired and motivated each day? Each day, I get to ask “what’s next?” and envision how we can go there. I look forward to providing my fellow employees the ability to achieve their goals, objectives and dreams. I get to shape a vision of where we (the firm) are going that was not created just by the shareholders, but by all employees. If we keep challenging ourselves, it is easy to provide the outstanding service clients deserve. What do you do to relax away from the office? Hobbies? Travel? As far as hobbies, I enjoy fishing, hiking, backpacking and sporting clays. I like reading books on leadership. My truly relaxing hobby is any type of cooking. I find the physical task of preparing really good meals a form of art. And making good barbecue is a passion that I have fostered at home and work.
Is there anything else you’d like to share? One of my favorite thought leaders is Simon Sinek. I will close with this quote I have taped to my office door: “The future is scary only if we try to avoid it.”
Travel is when I disconnect. Years ago, when my older son was a teenager, our travels focused on soccer tournaments around the entire southeast. We
Seize the Opportunity to Become Your Clients’ Most Trusted HCM Advisor
Businesses large and small are looking for a trusted advisor to help guide their human capital management (HCM) strategy. Paychex can help you exceed the human capital needs of all your clients through our industry-leading HCM technology and expert support staff. •
•
Recruiting and applicant tracking Human resource administration
•
Time and attendance
•
Benefits administration
•
Hiring and onboarding
•
Health insurance management
•
Payroll administration
•
Retirement services
To learn more, contact your Paychex representative at 1-877-534-4198 or visit payx.me/ascpa-accounting-professionals
Paychex is proud to be the preferred payroll provider for the Alabama Society of CPAs.
Insurance sold and serviced by Paychex Insurance Agency, Inc., 150 Sawgrass Drive, Rochester, NY 14620. CA License 0C28207.
26
ALABAMA STATE UNIVERSITY
TROY UNIVERSITY-PHENIX CITY
ATHENS STATE UNIVERSITY
UNIVERSITY OF MOBILE
AUBURN UNIVERSITY
UNIVERSITY OF ALABAMA
AUBURN MONTGOMERY
UNIVERSITY OF ALABAMA AT BIRMINGHAM
Joshua Daniel*
Jeffrey Vernon
Rebecca Glossmeyer* Troy Eastman
HUNTINGDON COLLEGE Brandi Blair
UNIVERSITY OF MONTEVALLO Katherine Sydney Bradner
SAMFORD UNIVERSITY Sara Griffith
SPRING HILL COLLEGE
The Educational Foundation of the Alabama Society of CPAs honors the top accounting student at each accredited program with the Accounting
Mary Margaret Vache*
TROY UNIVERSITY Trey Johns
TROY UNIVERSITY-DOTHAN Destiny Brooke Pinyan
Achievement Award. The handsome plaque is presented to the student by an ASCPA representative at spring honors day events. Criteria for the award include “Excellence in character, personality, leadership and academic achievement in accounting”. Please join with members of the ASCPA in recognition of these outstanding students.
27
Kelly McKinnon
Taylor Clinkenbeard* Emily C. Nance
Felicia A. James
UNIVERSITY OF ALABAMA IN HUNTSVILLE Brianna N. Buchanan
UNIVERSITY OF NORTH ALABAMA Mason Royal
UNIVERSITY OF SOUTH ALABAMA Matthew A. Nola
UNIVERSITY OF WEST ALABAMA Brendon J. Law*
*Recipient of ASCPA Educational Foundation Scholarship 2016/17
ServisFirst Bank Sponsors Alabama Young CPA Charity Golf Tournament ServisFirst Bank is focused on providing excellent customer service and positively impacting the areas we serve. It is a mission that rings true as we continue to expand throughout the Southeast. Formed in Birmingham in May 2005, ServisFirst has grown into a premier regional bank consistently recognized at local, regional, and national levels by industry experts.
dation have had tremendous effects on their success and dedication to lending a helping hand to those in need. Beyond the monetary contribution of the sponsorship, the golf tournament provides us with an excellent opportunity to connect and develop a closer relationship with the 6,200 CPA members of the Alabama Society of CPAs, especially its young members. ServisFirst Bank is able to share its mission with fellow professionals with the hopes of spreading its principles of service.
With each new community we enter, the Bank proactively connects with local leaders, organizations, and individuals. The Bank welcomes employees with deep community involvement, encouraging them to continue to expand their connections with their neighbors. Our name says it all, service comes first.
ABOUT SERVISFIRST BANK
ServisFirst is a full service commercial bank focused on commercial banking, correspondent banking, cash management, private banking and the professional consumer market, emphasizing competitive products, state of the art technology and a focus on quality service. Recently, the Bank announced its assets exceed $6 billion. The Bank offers sophisticated cash management products, Internet banking, home mortgage lending, remote deposit express banking, and competitive rates.
ServisFirst Bank makes every possible effort to strengthen our foundation within the community. Part of that involvement includes sponsoring local events. ServisFirst Bank is proud to be the title sponsor of the upcoming Alabama Young CPA Charity Golf Tournament, benefitting The Exceptional Foundation of Homewood and the Alabama Society of CPAs Educational Foundation. This golf tournament has netted more than $400,000 since it began 14 years ago. These charitable gifts to The Exceptional Foundation of Homewood and the ASCPA’s Educational Foun28
REMEMBERING KENT T. FIELDS
JESSE MITCHELL NEESE
July 3, 1937 - February 4, 2017 Durant, Oklahoma | Texas CPA Certificate 6764
May 12, 1948 - February 6, 2017 Brewton, Alabama | Certificate 1310
Dr. Kent Fields embarked on an eventful life in the Scurry County (Texas) jail living quarters. His grandfather was the local sheriff. After graduating from Snyder High School in 1955, he earned a bachelor’s degree in marketing from the University of North Texas and an MPA in accounting from the University of Texas. Following a career as a CPA in public accounting, he attended Texas A&M and became a Ph.D. He was on the faculty of LSU and was the Charles McKenzie Taylor, Jr. Professor of Accounting and chair of the faculty senate (1995) at Auburn University. He was a true Renaissance man who loved literature, writing poetry, woodworking, stained glass art, birdwatching, scuba diving, participating in musical theater and spear fishing among many other pursuits. After a valiant four-year battle with multiple myeloma, he died surrounded by family, friends and his devoted Corgi, Fiona. A memorial service will be scheduled at a later time. Fields was a member of the ASCPA for 17 years.
Neese was graduated from W.S. Neal High School in 1966 and served in the U.S. Army’s 101st Airborne Division 1969-1971, which included a tour in Viet Nam. He attended Auburn University, graduating in 1972, joining Ernst and Ernst in Birmingham, earning his CPA designation in 1974 and becoming a member of the ASCPA the same year. He was a partner in McDowell and Neese in 1976, retiring in 2013. He was a co-founder of the Greater Brewton Foundation and managed Jernigan Realty Enterprise. Neese was an avid outdoorsman who loved hunting and fishing. Memorials may be made to the Greater Brewton Foundation.
ROBERT LEE (BOBBY) ELLIS November 1, 1950 - February 7, 2017 Hoover, Alabama | Certificate 3512
Ellis was graduated from West End High School and the University of Alabama at Birmingham. He worked for Regions Bank and was a passionate fan of Alabama football. He was a people person who never met a stranger and will be greatly missed by his family and many friends. Ellis was a member of the ASCPA for more than 30 years. The family requests memorials be directed to the Leukemia and Lymphoma Society or the Shelby County Humane Society.
DANIEL LEVON LINDSEY
October 23, 1935 - February 19, 2017 Montgomery, Alabama | Certificate 605 Lindsey was a graduate of Andalusia High School in 1954. He attended Auburn University where he was an active member of the ROTC program, served as treasurer and president of Phi Kappa Tau fraternity, was superintendent of finance of the Student Government Association and was a member of Delta Sigma Pi business fraternity. He joined the Alabama National Guard as a 17-year-old high school student and, after his graduation from Auburn in 1958, served for three years in the U.S. Army and six additional years in the national guard as an Army aviator. He joined Jackson Thornton in 1961 and earned his CPA certificate in 1963. He became a partner at JT in 1965 and remained there for the entire 45 years of his professional career. Lindsey was a member of the ASCPA for 50 years. Lindsey was an active and devoted member and president of the Montgomery Jaycees and Montgomery Lions Club, serving for many years as the chair of the Lions’ International Youth Camp. He spent many hours with family and extended family at Lake Martin, teaching dozens of children to water ski. He was an ardent supporter of Auburn and served as a member of the Auburn University Research Council, the Auburn Alumni Association Board of Directors, the School of Accountancy Advisory Council and as president of the Montgomery Auburn Club. He loved traveling with his family all over the south, especially to the Plains to see Auburn play. He was a member of Whitfield United Methodist Church and held many offices and responsibilities there. He was committed to assisting seminary students and was instrumental in establishing the Stegall Seminary Scholarship Foundation, serving on the initial board of directors. In his later years he was an active participant in First United Methodist Church’s Respite Ministry. The love and support of the Respite leaders and volunteers profoundly blessed him and his family as he dealt with the challenges of Alzheimer’s disease. Memorials can be sent to either of those organizations at FUMC. 29
UPCOMING COURSES 052 Employee Benefits Workshop 5/25/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | AA: 8 026 Business and Industry Workshop 6/30/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Hilton Garden Inn Eastchase | MG: 8 027 Audits of 401(k) Plans 7/11/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | AA: 8 029 K2’s Planning and Managing Your Team’s Technology 7/27/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | MG: 8 030 Surgent’s Federal Tax Camp 7/27/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | TX: 8 031 2017 Accounting and Auditing Update for the Real World 7/28/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8 032 K2’s QuickBooks Online and Other Top Accounting Software for Small Businesses 7/28/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | CS: 8 033 Complete Guide to Payroll Taxes and 1099 Issues 7/28/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | TX: 8 034 Employment Law Update: Key Risks and Recent Trends 8/14/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | Business Law: 8 | Webcast 035 Understanding the Complexities of Fraud in Order to Develop Ways to Mitigate Risk 8/15/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | AA: 8 036 Construction Contractors Advanced Issues 8/15/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 6 TX: 2
037 Determining How Much Money You Need to Retire, and Tax Ideas and Money Management in Retirement 8/15/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | MG: 4 TX: 4 028 ASCPA Fraud Workshop 8/16/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8 038 Understanding and Creating an Internal Control Structure 8/16/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | AA: 8 039 The Eight Hour MBA: Key Concepts of Adding Value 8/16/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | MG: 8 040 Surgent’s Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships 8/16/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | TX: 8 041 Advanced Defined Contribution Plans Audit Certificate Exam Review 8/21/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | AA: 8 043 Small Business Fraud: The Lessons Behind the Stories 8/22/2017 | 8:30 AM - 4:15 PM | MOBILE | Holiday Inn Mobile | AA: 8 | Webcast 045 Documenting Your EBP Audit: What You Need to Know 8/22/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8 046 Sales and Use Tax Workshop 8/22/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | TX: 8 050 Reviewing Pass-Through Tax Returns: What Are You Missing? 8/22/2017 | 8:30 AM - 4:15 PM | MOBILE | Holiday Inn Mobile | TX: 8
042 Surgent’s 2017 Annual Tax Planning Guide for S Corporations, Partnerships, and LLCs 8/23/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | TX: 8 | Webcast 044 K2’s Excel Best Practices 8/23/2017 | 8:30 AM - 4:15 PM | MOBILE | Holiday Inn Mobile | CS: 8 047 K2’s Advanced Excel Reporting - Best Practices, Tools, and Techniques 8/23/2017 | 8:30 AM - 12:00 PM | MONTGOMERY | Alabama Society of CPAs | AA: 4 048 K2’s Advanced PivotTables, Including PowerPivot 8/23/2017 | 1:00 PM - 4:30 PM | MONTGOMERY | Alabama Society of CPAs | CS: 4 049 2017 Accounting and Auditing Update for the Real World 8/23/2017 | 8:30 AM - 4:15 PM | MOBILE | Holiday Inn Mobile | AA: 8 051 The Market Approach to Valuing a Business 8/23/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | SK: 8 053 Upcoming Peer Review: Is Your Firm Ready? 8/23/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8 054 Buying and Selling a Business: Critical Tax and Structuring Issues 8/24/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | TX: 8 | Webcast 055 A&A for Tax People Who Hate A&A 8/24/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | AA: 8 | Webcast 056 AICPA’s Annual Update: Top 12 Governmental and Not-for-Profit Accounting and Auditing Issues Facing CPAs 8/24/2017 | 8:30 AM - 4:15 PM | MOBILE | Holiday Inn Mobile | AA: 8
30
057 Determining How Much Money You Need to Retire, and Tax Ideas and Money Management in Retirement 8/24/2017 | 8:30 AM - 4:15 PM | MOBILE | Holiday Inn Mobile | MG: 4 TX: 4 058 Governmental Accounting and Auditing Update 8/24/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4 AA: 4 059 Federal Tax Update - Individual & Business Current Developments 8/24/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | TX: 8 060 Audits of 401(k) Plans 8/24/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8 061 2017 Accounting and Auditing Update for the Real World 8/25/2017 | 8:30 AM - 12:00 PM | Auburn | Hilton Garden Inn-Auburn | AA: 4 062 Small Business Fraud: The Lessons Behind the Stories 8/25/2017 | 1:00 PM - 4:30 PM | Auburn | Hilton Garden Inn-Auburn | AA: 4 063 Identity Theft: Preventing, Detecting, and Investigating Identity Theft 8/25/2017 | 8:30 AM - 4:15 PM | MOBILE | Holiday Inn Mobile | AA: 8 064 Best Income Tax, Estate Tax, and Financial Planning Ideas of 2017 8/25/2017 | 8:30 AM - 4:15 PM | MOBILE | Holiday Inn Mobile | TX: 8 065 Accounting & Auditing for Governmental Employee Benefits 8/25/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8 066 Passive Activities & Rental Real Estate Income Tax Issues 8/25/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | TX: 8 067 Community Banking Update 8/25/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8
View the entire 2017 CPE schedule on the website, ascpa.org.
068 Advanced Topics in a Single Audit 8/28/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8 069 Advanced Concepts in SSARS 21 and Nonattest Services: Are You Certain You Are in Compliance? 8/28/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8 070 The Best Estate and Financial Planning Topics of 2017 8/28/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | TX: 8 071 More than Meets the Eye: Examining the New Lease Accounting Standard 8/28/2017 | 8:30 AM - 12:00 PM | DOTHAN | Troy University Dothan | AA: 4 072 KEY PARTNERSHIP AND S CORPORATION TAX PLANNING STRATEGIES 8/28/2017 | 8:30 AM - 12:00 PM | DOTHAN | Troy University Dothan | TX: 4 073 Guide to the New Revenue Recognition Model for All CPAs 8/28/2017 | 1:00 PM - 4:30 PM | DOTHAN | Troy University Dothan | AA: 4 074 MASTERING BASIS ISSUES FOR S CORPORATIONS, PARTNERSHIPS, AND LLCS 8/28/2017 | 1:00 PM - 4:30 PM | DOTHAN | Troy University Dothan | TX: 4 075 Cut Your Client?s Tax Bill: Individual Tax Planning Tips and Strategies 8/28/2017 | 8:30 AM - 4:15 PM | HUNTSVILLE | Westin Huntsville | TX: 8 076 K2’s Small Business Internal Controls, Security, and Fraud Prevention and Detection 8/28/2017 | 8:30 AM - 4:15 PM | HUNTSVILLE | Westin Huntsville | AA: 8 077 Implementing SSARS 21: Preparation, Compilation, Review & the Cash and Tax Basis of Accounting 8/29/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | AA: 8 | Webcast 078 Studies on Single Audit and Yellow Book Deficiencies 8/29/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8
079 Accounting, Audit, and Attest Update for Practitioners with SmallBusiness Clients 8/29/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | AA: 8 080 Asset Protection Strategies 8/29/2017 | 8:30 AM - 4:15 PM | BIRMINGHAM | Pelham Civic Complex | TX: 8 081 Reviewing Pass-Through Tax Returns: What Are You Missing? 8/29/2017 | 8:30 AM - 4:15 PM | HUNTSVILLE | Westin Huntsville | TX: 8 082 A&A for Tax People Who Hate A&A 8/29/2017 | 8:30 AM - 4:15 PM | HUNTSVILLE | Westin Huntsville | AA: 8 083 Meet Your Next Migraine: Five Critical Issues that Will Confront A&A Public Accountants in 2017 8/29/2017 | 8:30 AM - 12:00 PM | DOTHAN | Troy University Dothan | AA: 4 084 Meet Your Next Migraine: Five Critical Issues that Will Confront Tax Public Accountants in 2017 8/29/2017 | 8:30 AM - 12:00 PM | DOTHAN | Troy University Dothan | TX: 4 085 GUIDE AND UPDATE TO COMPILATIONS, REVIEWS, AND NEW PREPARATIONS 8/29/2017 | 1:00 PM - 4:30 PM | DOTHAN | Troy University Dothan | AA: 4 086 Essential Depreciation and Expensing Update 8/29/2017 | 1:00 PM - 4:30 PM | DOTHAN | Troy University Dothan | TX: 4 087 A Real-Life Look at Revenue Recognition in Today’s GAAP & What May Lie Ahead 8/30/2017 | 8:30 AM - 12:00 PM | MONTGOMERY | Alabama Society of CPAs | AA: 4 | Webcast 088 Implementing FASB’s New Lease Standard - Examples and Practical Approaches 8/30/2017 | 1:00 PM - 4:30 PM | MONTGOMERY | Alabama Society of CPAs | AA: 4 089 2017 Accounting and Auditing Update for the Real World 8/30/2017 | 8:30 AM - 12:00 PM | Tuscaloosa | Bryant Conference Center | AA: 4
090 Small Business Fraud: The Lessons Behind the Stories 8/30/2017 | 1:00 PM - 4:30 PM | Tuscaloosa | Bryant Conference Center | AA: 4 091 Fiduciary Income Tax Returns - Form 1041 Workshop with Filled-in Forms 8/30/2017 | 8:30 AM - 4:15 PM | HUNTSVILLE | Westin Huntsville | TX: 8 092 Governmental Accounting and Reporting Advisor 8/30/2017 | 8:30 AM - 4:15 PM | HUNTSVILLE | Westin Huntsville | AA: 8 093 Surgent’s 2017 Annual Tax Planning Guide for S Corporations, Partnerships, and LLCs 8/31/2017 | 8:30 AM - 4:15 PM | HUNTSVILLE | Westin Huntsville | TX: 8 094 Audits of 401(k) Plans 8/31/2017 | 8:30 AM - 4:15 PM | HUNTSVILLE | Westin Huntsville | AA: 8 095 Audits of State and Local Governments: What You Need to Know 8/31/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | AA: 8 001 AICPA Peer Review Program Advanced Course 9/1/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | AA: 8 096 INDIVIDUAL TAX PLANNING IDEAS FOR 2017 9/18/2017 | 8:30 AM - 12:00 PM | MOBILE | Holiday Inn Mobile | TX: 4 097 Meet Your Next Migraine: Five Critical Issues that Will Confront A&A Public Accountants in 2017 9/18/2017 | 8:30 AM - 12:00 PM | MOBILE | Holiday Inn Mobile | AA: 4 098 Accounting and Auditing Update 9/18/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4 099 MAXIMIZING YOUR SOCIAL SECURITY BENEFITS 9/18/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | TX: 4
31
100 Controller’s Update: Today’s Latest Trends 9/18/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | Finance: 4 101 IRS Tax Examinations and Hot Issues 9/18/2017 | 1:00 PM - 4:30 PM | MOBILE | Holiday Inn Mobile | TX: 4 102 GUIDE AND UPDATE TO COMPILATIONS, REVIEWS, AND NEW PREPARATIONS 9/18/2017 | 1:00 PM - 4:30 PM | MOBILE | Holiday Inn Mobile | AA: 4 103 Meet Your Next Migraine: Five Critical Issues that Will Confront Tax Public Accountants in 2017 9/18/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | TX: 4 104 Internal Control: How Does It Impact an Audit? 9/18/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4 105 Lean Accounting and Management: Saving Money by Streamlining Operations 9/18/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | Finance: 4 106 Non-Traditional Services and Other Methods of Making a Living for the Small Practitioner Who Doesn’t Audit or Review 9/19/2017 | 8:30 AM - 12:00 PM | MONTGOMERY | Alabama Society of CPAs | AA: 4 107 Guide to the New Revenue Recognition Model for All CPAs 9/19/2017 | 8:30 AM - 12:00 PM | MOBILE | Holiday Inn Mobile | AA: 4 108 PARTNERSHIPS AND LLCs: AVOIDING COMMON PITFALLS FACING PRACTITIONERS 9/19/2017 | 8:30 AM - 12:00 PM | MOBILE | Holiday Inn Mobile | TX: 4 109 Preparation, Compilation, and Review Engagements: Update and Review 9/19/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4
View the entire 2017 CPE schedule on the website, ascpa.org.
110 Critical Tax Factors in Business Life Cycle Decision-Making 9/19/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | TX: 4 111 INNOVATIVE FORECASTING & BUDGETING: MOVING BEYOND THE TRADITIONAL TECHNIQUES 9/19/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | Finance: 4 112 Financial Statements of Notfor-Profit Organizations: Significant Changes Have Occurred! 9/19/2017 | 1:00 PM - 4:30 PM | MONTGOMERY | Alabama Society of CPAs | AA: 4
120 The Bottom Line on the New Lease Accounting Requirements 9/20/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4 121 INDIVIDUAL INCOME TAX UPDATE 9/20/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | TX: 4 123 LATEST DEVELOPMENTS IN GOVERNMENT AND NONPROFIT AUDITING 2017 9/20/2017 | 1:00 PM - 4:30 PM | MOBILE | Holiday Inn Mobile | AA: 4 124 The New Controllership: Keys to Boosting Management Skills 9/20/2017 | 1:00 PM - 4:30 PM | 113 More than Meets the Eye: MOBILE | Holiday Inn Mobile | AS: 4 Examining the New Lease Accounting 125 A+ College Savings Planning: Standard 9/19/2017 | 1:00 PM - 4:30 PM | MOBILE | Holiday Inn Mobile | Maximizing Resources and Tax AA: 4 Benefits 9/20/2017 | 1:00 PM - 4:30 PM | 114 K-1 Boot Camp for LLCs BIRMINGHAM | Pelham Civic Complex | 9/19/2017 | 1:00 PM - 4:30 PM | MOBILE TX: 4 Holiday Inn Mobile | TX: 4 126 The Most Common Financial 115 Interpreting the New Revenue Statement and Asset Fraud Schemes: Recognition Standard: What All CPA?s How to Detect and Prevent Them 9/20/2017 | 1:00 PM - 4:30 PM | Need to Know BIRMINGHAM | Pelham Civic Complex | 9/19/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4 AA: 4 128 Annual CFO Spotlight: 4 Select 116 SELECT ESTATE AND LIFE Issues PLANNING ISSUES FOR THE MIDDLE- 9/20/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of INCOME CLIENT 9/19/2017 | 1:00 PM - 4:30 PM | CPAs | Ethics: 4 AA: 4 BIRMINGHAM | Pelham Civic Complex | TX: 4 135 K2’s Tech Tools and Gadgets for a More Efficient You! 117 THRIVING IN A CHAOTIC 9/20/2017 | 8:30 AM - 12:00 PM | ECONOMIC ENVIRONMENT: BIRMINGHAM | Pelham Civic Complex | CS: 4 PLANNING AND STRATEGY FORMULATION FOR YOUR 138 K2’s Securing Your Data ORGANIZATION 9/19/2017 | 1:00 PM - 4:30 PM | Practical Tools for Protecting BIRMINGHAM | Pelham Civic Complex Information | Finance: 4 9/20/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | 118 Latest Developments in CS: 4 Government and Nonprofit Accounting 2017 9/20/2017 | 8:30 AM - 12:00 PM | 129 Shorten Month End: Closing Best MOBILE | Holiday Inn Mobile | AA: 4 Practices 9/21/2017 | 8:30 AM - 12:00 PM | 119 The New Controllership: Keys to MONTGOMERY | Alabama Society of CPAs | AA: 4 Boosting Financial Performance 9/20/2017 | 8:30 AM - 12:00 PM | MOBILE | Holiday Inn Mobile | AS: 4
130 Data Breaches & Other Cyber Frauds: A 21st Century Risk to Your Organization 9/21/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | SK: 4 132 Critical Thinking Skills for Financial Professionals 9/21/2017 | 1:00 PM - 4:30 PM | MONTGOMERY | Alabama Society of CPAs | MG: 4 133 Forensic Investigations: Key Tools to Success 9/21/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4 142 K2’s Technology Update 9/21/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | CS: 4 149 K2’s Microsoft Office - Improving Productivity with New Features 9/21/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | CS: 4 122 K2’s Excel Financial Reporting and Analysis 9/25/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4 127 K2’s Business Intelligence, Featuring Microsoft’s Power BI Tools 9/25/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | CS: 4 136 Sirote’s Hottest Tax Topics of 2017 9/25/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | TX: 4 137 Fraud in Small-to Medium-Sized Entities 9/25/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4 139 Real World Business Ethics 9/25/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | Ethics: 4 140 The Myths and Concepts of Succession Planning for Family-Held Business 9/25/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | Other: 4
32
141 Complete Guide to the Yellow Book 9/25/2017 | 8:30 AM - 4:15 PM | MONTGOMERY | Alabama Society of CPAs | AA: 8 131 K2’s Excel Tables and Data Models - Efficiently Managing, Analyzing & Reporting Your Data 9/26/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | CS: 4 134 K2’s Excel PivotTables for Accountants 9/26/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | CS: 4 143 Risk Management and Accountant’s Liability 9/26/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | Other: 4 144 Financial Reporting for Not-forProfit Entities 9/26/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4 145 Revenue Recognition: The New Perspectives 9/26/2017 | 8:30 AM - 12:00 PM | HUNTSVILLE | Westin Huntsville | AA: 4 146 CONTROLLER/CFO UPDATE: HOT TOPICS FACING TODAY’S FINANCIAL PROFESSIONAL 9/26/2017 | 8:30 AM - 12:00 PM | HUNTSVILLE | Westin Huntsville | Finance: 4 147 Basics of Special Needs Trusts: How to Assist Your Disabled and/or Elderly Clients 9/26/2017 | 8:30 AM - 12:00 PM | BIRMINGHAM | Pelham Civic Complex | TX: 4 148 Fraud Risk in Governmental and Not-for-Profit Organizations 9/26/2017 | 1:00 PM - 4:30 PM | BIRMINGHAM | Pelham Civic Complex | AA: 4 150 The New Leasing Standard: It?s Here and It’s Huge 9/26/2017 | 1:00 PM - 4:30 PM | HUNTSVILLE | Westin Huntsville | AA: 4
More courses in September and beyond in the online CPE catalog, ascpa.org.
ASCPA Continuing Professional Education Registration Form Mail form to : ASCPA P.O. Box 242987 Montgomery, AL 36124-2987
Fax form to :
Register online at:
334.834.7310
www.ascpa.org
REGISTRANT INFORMATION Last Name
M.I.
First Name
ASCPA Member Number
Firm / Employer State Certificate Number Address City
State
Zip
Business Phone
Business Fax
Please visit www.ascpa.org to view all registration policies, including information about cancellations and refunds. Please attach a description of special requests or contact us at (334) 386-5763.
Email Address (for registration confirmation)
o Vegetarian o ADA Request
o Check if information has recently changed and needs to be updated in your member record Are you a member of the AICPA? o Yes verification)
How did you hear about this class?
o No
o Email
Course Date
Member Number: ____________________ (Required for discount; subject to o Newsletter
o Website
Course Number
Course Title
o Postcard/Special Mailing Course Fee
o Other
AICPA Discount *see note (where applicable)
ASCPA Non- Member Member
Book Fee ($40 per course)
Subtotal
Total: *CPAs who are members of the ASCPA may register at the member rate. CPAs who are not a member of the ASCPA or other State Society may register at the Non-Member rate. Please include the appropriate discount(s) when registering for events. áCPAs who are members of the AICPA may deduct $30 from AICPA seminars ONLY (8 hrs classes). (These are identified in the CPE Schedule online or in the ASCPA newsletter). *Electronic course materials are included in the registration fee and will be available for download 3 days before the course date. You can choose to purchase a paper copy of the course materials for an additional fee of $40 per course. o I acknowledge that I will receive course materials electronically (included in course fee). o I would like to purchase my manual for $40 per class Check: I have enclosed a check payable to ASCPA in the amount of $ ___________ I authorize the ASCPA to charge $ __________ to my credit card.
Credit Card:
Card Number
MC
Visa
Discover Month
o Company Credit Card ________________________________________ Print Cardholder’s Name
AMEX
Year
Expiration Date
o Personal Credit Card
________________________________________________ Cardholder’s Signature
2/23/15
Delivering Result
CLASSIFIEDS
L T P
YOUR PRACTICE WANTED:
Thinking about selling your practice? Accounting Practice Sales delivers results, bringing you the best price, optimal terms, and a buyer who represents an ideal fit for your clientele. Contact us today for a confidential discussion.
SELLING YOUR FIRM IS COMPLEX. WE CAN HELP.
PRACTICES FOR SALE: • Huntsville CPA grossing $315K • Birmingham tax practice grossing $225K • Upper Cumberland, TN CPA grossing $70K • West of Downtown Chattanooga CPA grossing $165K
Accounting Biz Brokers has been selling CPA firms for over 12 years and we know your market. We have a large database of buyers ready to purchase. Our “Six Steps to Success” process for selling your firm includes a personalized, confidential approach to bring you the win-win deal you are seeking. Our brokers are Certified Business Intermediaries (CBI) specializing in the sale of CPA firms. We are here to help you navigate through the entire sales process – from marketing to negotiating, to closing and successfully transitioning the firm. Contact us TODAY to receive a free market analysis.
For more info on any of these listings or to sell your practice, contact Lori Newcomer, CPA and Tim Price, CPA at (888) 553-1040 or PNGroup@APS.net, or visit www.APS.net.
Listings:
NE MS Tax & Bookkeeping Firm Gross $850k-SOLD Montgomery Area Gross $28k-SOLD Kathy Brents, CPA, CBI Cell 501.514.4928, Office 866.260.2793, Kathy@AccountingBizBrokers.com, visit us at www.AccountingBizBrokers.com
ACCOUNTING FIRM IN BALDWIN COUNTY SEEKING FULL-TIME AUDIT MANAGER with experience in governmental and not for profit organizations. Send resume’ and cover letter to jobs@jsdncpa.com
IS IT TIME TO SELL YOUR PRACTICE? THIS IS TOO IMPORTANT TO DO BY YOURSELF!
Specializing exclusively in the brokerage of CPA, tax, and accounting firms, Akins Professional Brokerage has been helping sellers achieve their transition goals for over 11 years. We have no upfront fees! As a former CPA firm owner who grew his practice via acquisitions, David L. Akins, CPA has unique knowledge of the process.
BUSINESS MANAGER WANTED for Montgomery non-profit. Minimum 5 years’ experience required. Position manages the business office with responsibilities for administrative and financial functions and property management. For a complete list of qualifications and responsibilities, visit www.myaea.org. Only applicants who possess posting requirements will be considered.
Call David toll free at (877) 277-0272 or email david@akinsprofessionalbrokerage.com. To learn more about our services, go to our website at: www.AkinsProfessionalBrokerage.com.
Send current resume reflecting qualifications and a letter of application which specifically addresses how career accomplishments meet position requirements to HR@alaedu.org. 34
Save the Date
for these upcoming ASCPA Conferences and Workshops
ASCPA Employee Benefits Workshop May 25 | Montgomery ASCPA Offices
Accounting Connections Conference June 8 & 9 | Montgomery Renaissance Montgomery
Gulf Shores CPE Retreat June 20-23 | Gulf Shores The Beach Club
Business and Industry Workshop June 30 | Montgomery Hilton Garden InnEastchase
Summer Education Conference Partnership with the Florida Institute of CPAs and Society of Louisiana CPAs July 17-21 | Destin, FL Hilton Sandestin Technology Conference August 17-18 | Pelham Pelham Civic Complex
Accounting Diversity Day September 8 | Montgomery Alabama State University
Financial Accounting and Auditing Conference September 22 | Montgomery Auburn University at Montgomery Educator Conference October TBA | Montgomery ASCPA Offices
Governmental A&A Forum December 14 & 15 | Birmingham Birmingham Marriott
Presort Std US Postage PAID Permit No 131 Montgomery, AL
The Alabama Society of Certified Public Accountants 1041 Longfield Court P.O. Box 242987 Montgomery, AL 36124
Call or visit APS.net today for a free, confidential valuation of your practice.
Imagine... a chair without a desk Delivering Results - One Practice At a time Lori Newcomer, CPA & Tim Price, CPA PNGroup@aps.net
888-553-1040 www.APS.net