Connections Sept Oct 2016

CONNECTIONS s e pte m b e r

ACCOU NTI NG PI PELI N E I SSU E

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O C T O B E R

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ACCOUNTING PIPELINE /7 | ASCPA Educational 6 Foundation Scholarships

8 | Change Is the One Constant 12 | Into the Unknown - A new CPA Board and the First Alabama CPA Exam

DEPARTMENTS

INSIDE THE ASCPA

4 | Message from the Chair

10/11 | Diversity and Inclusion - Two

Perspectives

15 | ASCPA 2016 22 | Member Profile Greg Prescott

22/23 | A Student’s View: AICPA Accounting Scholars Leadership Workshop 25 | BABC SALT Corner

24 | Member News 28 | Remembering

COVER PHOTO CREDIT: University of West Alabama students at the 2015 Accounting Interview Day

34 | Classified Ads

FRONT COVER

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MESSAGE FROM THE

CHAIRMAN

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n my house we go by the unofficial seasons of Tax, Summer, Football and Holiday, so by the time you read this, summer has ended and we’re in early stages of football season. (In the state of Alabama this can also be known as hide-your-Facebook-friends season. Considering the political scene these days you may have already entered the hide-your-Facebook-friends season!) Regardless of your political stance, I think we can all agree that elections and politics affect our personal and professional lives. This is true even in our small corner of the world in Alabama. Your Alabama Society works hard to stay on top of legislative matters in the state that could affect all of us. Whether it’s supporting our own bills or defeating one that would negatively impact us, the ASCPA is always working in the best interests of Alabama CPAs. I encourage any of you with personal or professional legislator contacts to go onto the ASCPA website and sign up as a member of the Key Person Network. This gives the Society a direct channel to push out specific information for members to share with lawmakers when legislative issues arise. We are stronger in numbers.

In addition, if you have a passion for this area I would encourage you to take it a step further and volunteer for the legislative task force. Whether you are in industry, local government, public accounting or academia something in the legislative pipeline could impact your professional life.

As members of the ASCPA, we want to work together to stay proactive and advocate for ourselves and our profession.

more like a feeling of anxiety. My boys are still too young for a first day of school, but the idea that it’s coming (and mainly the speed at which it’s coming)….well let’s just say I’m already concerned about my wife’s emotional status when that day does come. But that’s just another step in the lifelong journey of education.

In the last issue of Connections, you read a little about my own education journey through Athens State and Auburn.

I would not be where I am except for the dedication of accounting faculty like Eddie Burks. I really appreciate the fact that the ASCPA has programs and tools to promote the profession. It’s why I support the Educational Foundation, continue to speak at schools and do all I can to encourage students. Just in the last couple of weeks I had a chance to see how effective a simple tool like the ASCPA Student Guide to Accounting Firms in Alabama can be. We heard from a student over the summer, an Educational Foundation scholarship recipient, interviewed her, and have made an offer to her for a spring internship. It didn’t hurt that she was proactive, doing her research and making the initial call. But the ASCPA had the resource to offer, the financial support to encourage her and our firm is the grateful beneficiary.

Speaking of education, do you have all your continuing education completed this year? The deadline is only a couple of weeks away and if you still need hours please visit the ASCPA website. There are lots of options available for all you procrastinators busy folks if you still are a few hours short. Joking aside, I truly hope you have had a wonderful summer, maybe recharged your batteries and spent time with your loved ones. Life is short, don’t forget to enjoy it.

Thank you for the opportunity to be your chair and always feel free to let me know if I can help you.

Of course the other big news at this time of year…..SCHOOL HAS STARTED. This is a unique time for everyone. Some of you may have shed tears over your little one with a backpack bigger than they are, walking into their first day of kindergarten. Some of you may have done a happy dance that the crazytown called summer has ended and normalcy and order have been restored to your household. Others may have felt nostalgic as it has been many years since you’ve gone through those first day jitters. At my house, it’s

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IS IT A CHALLENGE TO PROVIDE TRAINING FOR YOUR FIRST THROUGH THIRD YEAR STAFF? If so, the ASCPA would like to provide your firm with the opportunity to send your associates to our staff training workshops. Each training level will include lectures and interactive group case studies to prepare your associates for their work in the field. Get your new staff started off on the right foot with our audit and tax training courses.

TAX SKILLS TRAINING PELHAM CIVIC COMPLEX

Tax Level 1 – October 24 & 25 Tax Level 2 – November 15 & 16 Tax Level 3 – December 5 & 6

Each class qualifies for 16 hours of CPE credit.

For more information contact Jessica Roberts at (334) 386-5766 or jroberts@ascpa.org.

www.ascpa.org/public/catalog

CONGRATS TO OUR SCHOLARSHIP RECEIPIENTS Kimberly M. Fields Alabama A&M

Joshua Daniel

Ford Galin

Auburn University Kassouf Scholarship

Molly Ann Henson

Jacksonville State University

Dequez Andrews

Alabama State University

Tony Thornton

Elizabeth Bozeman

Harper DeWine

Sarah Griffith

Birmingham-Southern College

Samford University

Kali K. Martin

Mary Margaret Vache

Athens State University

Andrea Luckie

Auburn University

Auburn Montgomery

Huntingdon College/AUM

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Miles College

Spring Hill College

Lauren Kate Marshall

Troy University

Brandy Addy

Sarah Hilliard

University of Alabama

Brooke Grauss

Taylor Clinkenbeard University of Mobile

Troy University – Dothan

University of Alabama Kassouf Scholarship

Katherine Nally

Kayla Sansom

Ibawolatei Iyegha

Troy Montgomery

University of Alabama at Birmingham

Patrick Twesme

Lynn S. Sumner

Jaylon Williams

Troy University-Phenix City

University of Alabama at Birmingham

University of Montevallo

University of North Alabama

Stephanie Miracle

University of South Alabama

Pearce Bevill Minority Award

Karyn Taylor

Tuskegee University

Erika Buckley Tien Thuy Pham

University of Alabama 7 in Huntsville

University of West Alabama

CHANGE IS THE ONE CONSTANT

made the decision to stand out. Becoming a graduate student gave me a second chance to involve myself in university organizations.

I became the president of the Student Accounting Association and a charter member of our chapter of Beta Alpha Psi. Becoming involved in these organizations helps to bridge the gap between students and faculty, because they are a joint effort between the two groups.

In any accounting career, change is expected. Change in regulations and standards. Advances in technology that affect our daily duties. Change in the tax code from year to year. This is no different for accounting educators. So far, my current journey toward becoming an accounting educator has been a series of changes—transitions from one phase to the next. At this point in my journey, I am in a unique position, transitioning from student to educator.

THE TRANSITION FROM STUDENT TO CPA. I began studying for the CPA exam immediately after completing my bachelor’s degree. This was an exam like no other. I had been warned, but I didn’t understand until diving in head first. The exam process changed me. The CPA exam teaches more than just accounting skills. It teaches life skills—time management, responsibility, and self-discipline. Through the grueling hours of studying, I gained a higher respect for the value of time. I learned to make personal sacrifices in the present moment. I gained a deeper understanding of accounting, but also a deeper understanding of myself. I learned that it’s okay to fail at something. That only gives you greater motivation to succeed. Perseverance and endurance are essential. The process also instills a new respect for those who have obtained the CPA designation. The designation isn’t just a prestigious title. It is evidence of a battle fought and won. It is the self-confidence that a young professional needs when crossing the bridge from student to practitioner.

THE TRANSITION FROM CPA TO MBA STUDENT. Teaching has always been a passion of mine. From an early age, I thought I wanted to be a teacher. However, my career goals changed when I began college, and I found accounting to be a great fit. After gaining CPA firm experience and obtaining the CPA designation, I began thinking about uniting my childhood dream career with my current career. I knew that I would need to further my education, so I enrolled in the MBA program at Jacksonville State University. I learned that I would also have to obtain eighteen hours of graduate courses in accounting, in order to teach at the college level. I transitioned into the student phase once again, and became a graduate assistant in the College of Commerce and Business Administration.

While working as a graduate assistant, I learned the value of networking. Communication skills are critical in the professional world. With my somewhat stereotypical accountant personality, I could easily blend in to the background. However, I consciously

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THE TRANSITION FROM MBA STUDENT TO UNIVERSITY EMPLOYEE. Through networking, becoming involved, and excelling academically, I began to thrive in the university environment. This reinforced my desire to have a career within the university. Fortunately, the Small Business Development Center had a vacancy, and I was encouraged to apply. This department is within the College of Commerce and Business Administration, which has become my second home. I had to go through a rigorous application and interview process, but thankfully I was chosen as the candidate to fill the position. This shows one of the beauties of the CPA designation—versatility. The designation is so highly respected that it gives much weight to a résumé, even if the position isn’t a traditional accounting role. However, bringing a CPA designation to the Small Business Development Center makes me an asset. I work daily with small business owners.

While my job description doesn’t allow me to prepare tax returns for my clients, I can give them advice about the many different taxes for which businesses are responsible: income tax, sales tax, employment tax, and the list goes on. Small business owners also need a grasp of bookkeeping and accounting. Often, small companies don’t have an in-house bookkeeper when they are still in the start-up phase. Fortunately, I can provide these business owners with valuable accounting information. The most versatile tool in my professional toolbox is the CPA designation.

THE NEXT TRANSITION…I recently finished my MBA, so I will soon begin teaching accounting on an adjunct basis at JSU. I’m currently applying to doctoral programs, and my ultimate goal is to become an accounting professor at Jacksonville State University. Without a doubt, the CPA designation will add value in the doctoral program application process. Throughout each transition thus far, I have been so grateful for my decision to become a CPA. It is a multi-faceted designation that gives you the power to amplify your accounting career.

Cassandra L. Ward, CPA Government Procurement Specialist Small Business Development Center, Jacksonville State University

ASCPA 2016 4. The ASCPA Educator Conference will be held on October 7 and is a highlight for faculty at both two and four year schools. It offers a unique opportunity for accounting educators to connect, to discuss common challenges and to hear from relevant speakers. Attendees discuss a wide range of issues affecting the profession, as well as best practices in teaching and working with students. Practitioners are welcome to attend; sign up on-line, www.ascpa.org.

In both my role as president and CEO of the Alabama Society of CPAs and as a parent of two children (son Porter is a freshman in high school and daughter Kristen is a graduate student at George Washington University) I have a very soft spot for our student programs.

Visiting Alabama universities and colleges is a great joy for me, one that renews my spirit. These visits remind me of my own days sitting in front of Dr. Tom Ratcliffe at Troy University as I made the leap from math major to CPA.

5. Accounting Achievement Awards are given to the top graduating accounting student each year. This award is the best marker of who will go on to become a CPA. It is a highlight of my spring trips to campus to make this award, usually a surprise to the recipient.

Maybe you’ve heard board members, members of our Educational Foundation Board or chapter leaders talk about the “pipeline”, the path from student to CPA? Accounting enrollments have never been higher, but not all students are choosing to become certified. The ASCPA knows that having a steady stream of competent CPAs joining the profession is the only way to maintain high standards and the integrity for which we’re known. How is the ASCPA working toward this goal?

6. Educational Foundation Scholarship Awards are the crowning glory of all our student programs. For academic year 2016/17 we’re providing $92,280 among 24 general scholarships, four endowments, five diversity in accounting scholarships, two financial need scholarships and 4 internships. The success of the 2011 Fortune Forward capital campaign allowed scholarship amounts to increase to $2500 and for us to add the diversity and financial need awards. We owe it all to you, our members, for your continued generosity in supporting the Educational Foundation through direct donations, in memory of a colleague, or by checking off the box on your dues statement.

1. Involvement of chapter members and Young CPAs as speakers and resources for their local colleges and universities. Each school’s accounting club, Beta Alpha Psi or National Association of Black Accountants (NABA) chapter would enjoy the benefit of your expertise and knowledge at one of their meetings. Don’t wait for them to get in touch with you, contact them! We can help with materials and presenatations.

Please pay special attention to the students recognized throughout this issue and get to know them. Ask how you can get more involved at your alma mater or the school in your area. Invite students to a chapter meeting, to lunch at your business or firm, to a networking event. Offer to mentor them, allow them to shadow you for a day.

All it takes is your time and commitment to the profession you love.

2. Interview Skills Workshops in partnership with ITAC Solutions and Becker Review. This 2 hour program of skill-building and mock interviews is invaluable in creating the confidence to successfully land an internship or full-time position. For schools it’s important that students hear from voices outside their own faculty and advisors.

As more and more members retire during the next 15 years, this generation of students will step into our shoes. Let’s do all we can to make it a good fit.

3. Accounting Interview Day celebrates 30 years of matching recruiters and exceptional students from smaller accounting programs. This year we’ll return to the Auburn Montgomery School of Accountancy on September 9. Please sign your firm up as a recruiter. Call or email Diane Christy, dchristy@ascpa.org or fall intern William Baldwin, intern@ascpa.org for information and a registration form. It’s a full day with the chance to see and interview at least 14 students.

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DIVERSITY INCLUSION Diversity in Accounting Student/Faculty Symposium JUMPING IN FEET FIRST. WHY I CHOSE ACCOUNTING. Debits, credits, accruals, deferrals, assets, liabilities, equity - sound familiar? These are some of the most basic terms in the world of accounting. However, the profession is more than terminology, financial statements, and 10-key calculators. The profession is full of service, interconnectedness, and excitement (believe it or not!). It has been my privilege to serve our profession as a member of the Alabama Society of CPAs’ Diversity and Inclusion Committee. Our goal is to champion diversity in the accounting profession with efforts specific to the state of Alabama.

Increased diversity in our profession is not only important; it is critical to the sustainability of many accounting firms. The country we live in is becoming more diverse and it is important that accounting professionals are prepared to thrive in such an environment; we need to be prepared to serve a more diverse client base with their correspondingly more diverse needs. Research has found that diversity in any company leads to increased revenues, increased access to talent pools, and an increase in innovation. The Journal of Accountancy and other AICPA resources have outstanding articles on this topic.

I was attracted to accounting because of the structure that it offers – that appealed to me as early as my senior year of high school. I debated where

to go to college but chose UAB for two reasons: first, it was located in a real city, not a college town. I knew that my chances for a job at graduation were increased just by being in a bigger market. Second, I was offered a scholarship which was renewed each of my four years. As an only child, and the youngest grandson and nephew of a large family, I was taken care of always. Choosing accounting was a way for me to assert myself and make my own contribution to the world. I love the pragmatic nature of accounting, and the fact that when you study accounting you end up as an accountant – you’ve BECOME your education.

The next goal on my horizon is getting an offer on “signing day”, August 19.

At UAB that’s the first day that firms can make offers for spring internships or full-time positions. I remember last year getting up, getting dressed and sitting by the phone, waiting for that 8:00 am call. I got both a call and two emails immediately and had accepted a position by 8:25. It’s both nerve-wracking and tremendously exciting. There’s no greater joy for me, as an accounting major, than to have that call come in and validate all my blood, sweat and tears over the past four years. I graduate in May, and hope that I will be able to start graduate school, sit for the CPA exam and then begin work for the public accounting firm that makes that offer on August 19.

As a member of the ASCPA, I am thrilled to see the steps we are taking to increase diversity in our profes10

sion. I have been a student member of the ASCPA for about a year now and the value I have derived from membership cannot be quantified. I have had the opportunity to attend conferences and events where I have met outstanding CPAs from across the state. But perhaps the greatest benefit has been the opportunity to get involved early in my career with the Alabama Society and serve as a member of the Diversity and Inclusion Committee.

I chose accounting as my major because I knew I was entering a field that is practical. I knew I was choosing a field that would be relevant as long as capital markets exist. As I progressed through the major, I learned that accounting is not just black and white and that it is not just about practical applications and the capital market. Accounting involves all of those things and so much more. ________________________________ Jaylon Williams, Diversity in Accounting Student/Faculty Symposium Co-chair

FROM B.I.G. TO DOING SOMETHING REALLY BIG “Phone bill about two Gs flat. No need to worry; my accountant handles that!” The first time I heard about an accountant was from the legendary rapper Notorious B.I.G. The song “Juicy,” has made an impact on people from various backgrounds and in numerous ways. It has also encouraged people to grow, take risks, and commit to becoming better people.

While Hip-Hop and Rap music had been prominent before Biggie’s reign in the 1990s, I do not think anyone would have guessed he would be the first to introduce accountants or rather, their importance to the music industry, via pop culture. Since then, my knowledge of the accounting profession has grown and I have established a solid understanding of more than just accounting basics, i.e. handling phone bills, as Biggie would suggest. I now have in-depth experience and an appreciation for the career I have chosen.

In 2013 I was graduated from Alabama State University’s MAcc program. I now work for the State of Alabama Department of Revenue conducting tax audits of oil and gas companies. It’s been a completely eye-opening experience seeing how much income is generated by oil and gas drilling, refining and transporting. My job enables me to travel and I’ve just returned from California.

Oh, and I’m sitting for the CPA exam, moving ahead on a goal that’s important to me. I’m a member of the Association of Government Accountants and that is the thread which ties me to Emma Cole and led me to my joining the ASCPA’s Diversity and Inclusion Committee. Ms. Cole can be quite persuasive, but it wasn’t until my first committee meeting at the ASCPA office, that I realized the potential impact the Society and this committee could have on the minority community.

I was already fully aware of the lack of diversity in the profession and the obstacles ahead of me as a person of color in the accounting field. What still eluded me was how and why the

industry continued to lag behind other fields in terms of minority recruitment and retention. Listening to the speakers and presentations at those first few committee meetings, particularly Florence Holland from the AICPA, made me realize that innovative opportunities and resources could have a critical impact on young students. I felt like I was destined to be a part of this committee and to work in minority communities to inspire the next generation of students.

bama House of Representatives for a legislative session. Right now I’m the AGA Director of Certification and am holding weekly study sessions for the CGFM exam. It’s a great way for me to share my knowledge and to pay it forward.

Let me back up a little and explain how I came to this point in my life. I was kind of a knuckle head in high school.

As the middle child and youngest son of seven siblings, I didn’t have a clue if I even wanted to go to college. My dad retired from the Army as a colonel (my mom was a college professor) and I had spent most of my life moving around: Mesa, Arizona, St. Louis area, Carlisle, Pennsylvania, Stone Mountain, Georgia, back to St. Louis then to Montgomery.

Minorities generally rank lower on the socioeconomic totem pole due to a lack of resources, generational poverty, systemic discrimination, and the lack of banking options in minority neighborhoods. Arming young minority students with financial knowledge could change all of that. Opportunities are available to these otherwise disadvantaged students as long as we provide them.

The ASCPA’s Diversity in Accounting Student and Faculty Symposium is a way for students to be inspired, to set and achieve goals and to create social and economic mobility that ultimately will impact their families.

I had been coming to Montgomery my whole life since we came back for the Turkey Day Classic football game each year. While my dad graduated from Tuskegee, his whole family - his parents, my uncles and all, went to ASU. I enrolled here and truly learned the value of education during my five years in school. It was a big surprise to my family to learn, by reading the program, that I was graduating with honors!

It should not have been a shock since my family is really competitive and my brothers and sisters are all high-achievers. One of my brothers works for AT&T as a financial analyst (he has an accounting degree). A sister graduated from University of Georgia and works in Costa Rica for the U.S. Department of State. My other brother is a lawyer and just went into practice for himself in Atlanta. I have a sister who works with the American Civil Liberties Union in Miami, one who’s an account executive and the last one just graduated from Georgia State with a degree in history.

I had some amazing experiences before joining the Department of Revenue, including interning at the Ala11

So, no, I couldn’t turn down Ms. Cole.

Going to college was a key turning point in my life and I have that same sense of personal growth with my involvement in the D & I Committee.

Being a member of the ASCPA Diversity & Inclusion committee is important to me. It has always been a personal goal to give back to my community. As a young African American man, I understand that minority representation in the field of accounting can having a ripple effect. I’m excited that the ASCPA has given me the opportunity to make that happen. ________________________________ Courtney Bruce, Diversity in Accounting Student/Faculty Symposium Co-chair

INTO THE UNKNOWN IN 1919: A NEW CPA BOARD AND THE FIRST ALABAMA EXAM

passage of the bill.” The bill (Figure 1) passed the state senate on February 17, 1919 and was signed into law by Governor Thomas Kilby on the same day.

The four page law described the nature of the CPA designation and makeup of the Alabama State Board of Public Accountancy (Board) which was to have three members, (one of which had to be an attorney). Its powers allowed it to issue and revoke CPA licenses and regulate the profession in Alabama. As it turned out, for the future members of the new board, passing the law was going to be the easy part.

Second in a series of articles celebrating 100 years of the Alabama Society of CPAs Jan Richard Heier, CPA, Ph.D.

In mid-July 1919, an estimated eighty candidates sat for the first CPA exam in Alabama. With a short preparation time allotted, the exam was announced in late May 1919, these first CPA candidates probably felt the same dread as a young 2016 CPA “wannabe.”

Here, however, the difference was that these first candidates were moving into a great unknown and did not have the benefit of the Becker CPA Review, but had to rely on either years of accounting experience or accounting principles books to get them through.

Regardless, they were among the first cadre of thousands of test takers in Alabama spread over the next century. The goal: acquiring those three coveted letters behind their name, CPA.

The Board was quickly organized when Gov. Kilby appointed its first three members. The accounting appointees judged, according to the CPA law, to have “a good moral character,” were Chairman From the Journals of Alabama House and Senate for 1919, January 18, 1919: Senate Speaker pro temp, T. J Bledsoe from Grove Hill in Clark County introduced Senate Bill 69 and sent to Judiciary Committee.

January 23: Walter Jones (founder of Montgomery’s Jones Law School) introduced nearly identical House Bill 74.

January 29: A competing bill S242 was introduced on January 29 by Senator Green from Dallas County, along with S243 that would require that the Alabama Examiner of Public Accounts should be required to be a CPA. February 5: S69 came out of the judiciary committee with proposed amendments.

February 6: Morning. The Senate took up the bill and passed clarifying verbiage amendments along with two major amendments that included a requirement to inform an exam candidate whether then passed or failed within thirty days and require that the first group of CPAs in Alabama for 1919 pay $25.00 a year license fees like all the others CPAs to come rather than the bill’s original $10.00 annual license.

February 6: Afternoon, Each of amendments as well as the final bill S69 passed unanimously on and reported to the House.

February 11: Rep. Jones apparently changed his bill to match that of the Senate.

February 14: S69/H74 passed by the House unanimously.

February 17: After a final reading by the Senate, it was finally passed and sent to the governor at 3:15pm on February 17 when it was immediately signed.

August 17, 1919: S242/243 never got a second reading and was reported adversely out of the Judiciary Committee.

In the spring of 1911, a small group of “public accountants”, primarily from Birmingham, organized the Alabama State Association of Public Accountants (ASAPA). The association’s secretary G. L. Lemon (and apparent lead person) drafted and sent a letter to the American Association of Public Accountants (AAPA) asking for admission as new chapter under the AAPA auspices. The letter also explained that the primary purpose of the new association was to pass CPA regulations. Unfortunately, the ASAPA lacked a critical mass of members and faced a dearth of interest from the accounting community in the CPA designation. It would take a world war to enhance that interest.

The organization eventually collapsed in 1915 after its non-payment of dues to the AAPA, but not before it took a small step towards passage of a CPA law and filed a draft law with the Alabama state legislature. Unfortunately, they lacked someone to sponsor the bill and shepherd it through the legislature. It subsequently died during the 1915 legislative session. The AAPA Yearbook for 1915 noted that, “it is the hope that some accountants in Alabama [could eventually] secure the enactment of a law, and the bill which has been prepared and submitted to this association has met the entire approval of [AAPA] committee on state legislation.”

Figure 1 Anatomy of a CPA Bill

Mayer Aldridge from Montgomery, George Rosson from Mobile, and R. C. Williams from Dothan” All three would eventually become CPAs, so it is unknown who was the required “reputable attorney.” Although all of the members were practicing accountants, none of them were CPAs --- YET! To rectify this problem, the original Alabama CPA law contained a provision that allowed the board to waive the exam requirements for current accountants that met the basic criteria for an Alabama CPA certificate under Section 1 of the law, and had worked for at least five years in Alabama as an accountant. It also provided for persons who possessed CPAs from other states to be certified in Alabama. Both of these provisions apparently were unheard of, but eventually the newly formed American Institute of Accountants (AIA), predecessor to the AICPA, would accept the new legislation with the provi-

Efforts for an Alabama CPA law were resurrected late in 1918 when a group of prominent accountants from Birmingham, Mobile and Montgomery began a concerted effort to pass the necessary legislation. According to Mary Baily, there was a growing necessity for a CPA law that allowed Alabama accountants to become qualified to provide certain tax services for businesses related to World War I cost and revenue regulations. In January 1919, the group drafted a bill modeled on existing state CPA laws for consideration by the Alabama legislature. This time, however, the profession had a champion following the law through the process, Mayer Aldridge. Aldridge was a prominent accountant from Montgomery (one of the founders of Aldridge Borden and Company), who also happened to be the state assembly’s reading clerk, and thus, according to Baily, “was in a position to make the attempt to insure 12

sions intact. Such acceptance was needed to show Alabama’s CPA requirements were comparable to other jurisdictions regarding items like reciprocal licenses and jurisdictional work permits.

According to Baily, at its May 26, 1919 organizational meeting, the new board decided not to issue waiver certificates, but required all candidates to take the first Alabama CPA exam that they had scheduled for July 17 and 18, 1919. The next order of the day was to find an exam to administer. The Board thought they simplest approach to this problem was to obtain the exam from the AIA, in that it prepared exams for twenty-six out of the forty-six CPA jurisdictions in the country. Unfortunately, the AIA had just given an exam in May and they were evidently reluctant to give Alabama copies. In addition, the next AIA-sponsored exam would not be until November, and the Board was under pressure to “mint” its own CPAs within six months of the new law. The only course open to the Board was to create its own exam --- so they did. Although the Board could have used published questions from states like Illinois and Wisconsin, which created and administered their own exams, it appears they also created many of their own questions, such as one about allocation depreciation at a saw-mill, a large Alabama industry at the time.

The only surviving copy of the first Alabama CPA exam comes from the AICPA library at the University of Mississippi. This four-page, typed copy on Board letterhead (See Figure 2), provided the examples of exam questions that we’ll discuss later in this article. As it turned out, the subject matter of the Board’s first exam seemed to follow the spirit of the new CPA law that stipulated that the subjects for examination would include Theory of Accounts, Practical Accounting, Auditing, and Commercial Law, but it may not have exactly followed the letter of the law, because it did not provide a separate Theory section.

Figure 2 First Page of the first Alabama CPA Exam

cases very different than that of 2016. For example, a “Surplus of Former Fiscal Period” was listed. Another strange item noted was difference between the “productive” and “unproductive” labor accounts. Here the candidate needed to know if these were expenses, assets, or liabilities, and, of course, which financial statement they were reported on. Finally, there was a rather strange one called Collections and Exchanges.

The July 1919 exam began with a combined practical accounting/ accounting theory section that included six questions on a variety of subjects facing contemporary accountants of that day. Several focused on accounting for corporate and partnership forms of businesses as noted in Figure 2. The archaic terminology used in the exam, however, would challenge even the best modern CPA candidates. For example, what was a book debt? In addition, as the reader can see, the accounting for partnerships is not very different from modern procedures. However, what is a contingent liability doing on a balance sheet? A candidate from 1919 needed to know whether it belonged or not. This must have been important because there was comparable audit question on this subject. Other questions were related to current accounting problems like accounting for raw materials inventory for World War I munitions manufacturers. Again, there was a comparable auditing question. There was even an ethics question about elevating the new Alabama CPA designation to its proper professional status in the community.

Next, the auditing section was comprised of ten essay questions for which each candidate was required to complete eight. These ranged from the bond question noted in Figure 3, to questions about the verification of receivables and payables and reconciling accounts. All of these questions could easily appear on a modern CPA exam. However the difference is that many of the audit procedures such as observing inventory or confirming receivables were not developed or institutionalized until the late 1930s.

Finally, there were twelve questions related to commercial law.

The majority of the questions focused the same subjects that modern candidates prepare for; the elements of contracts and negotiable instruments. In 1919, however, candidates had to know Alabama law and procedure. By contrast, a modern candidate learns the Uniform Commercial Code. Taxation, which is now a major focus of the “regulation” part of the modern exam, was not even tested in the first Alabama exam.

Although Baily never mentions who actually graded the exam, she noted that, “twenty-six men passed the first Alabama CPA exam”, and “and certificates were issued to the two members of the board, Aldridge and Rosson, thus a total of twenty-eight certificates were issued.” This meant that they probably created and

The most comprehensive question of this section asked the candidates to take a list of about fifty accounts and put them in correct balance sheet and income statement order. Here again, the archaic early 20th century accounting terminology was in many 13

graded the exam and could not take it due to an obvious conflict of interest. Baily went on to note, that “approximately two thirds of the total applicants failed to pass. Many of these men had no experience in public accounting and were not prepared for the examination.”

Three months later, on September 18, 1919, the AIA finally approved the new law. The reason for the delay in its acceptance seems to be centered on two issues. The first was the previously discussed waivers in the original law. Aldridge explained, in a letter to the AIA in March 1919, that the clause was inserted in the legislation to gain legislative approval. After this communication, Aldridge again asked for approval of the Alabama law in May 1919 after explaining in a letter to the AIA that at the Board’s organizational meeting it was decided not to generally use the waivers. Regardless, the AIA still did not approve of the law.

Another issue for the AIA centered on the content of the July 1919 exam. Apparently the Board sent a copy of the exam to the AIA in September of 1919 to help gain approval of the Alabama law. This copy from the AICPA library even had handwritten notations expressing concerns about the exam’s results, especially regarding the fact that, “100% of the candidates passed the auditing section of the exam. Therefore we must regard this exam with caution.” The final approval from the national organization occurred after the Board accepted the suggestion (probably requirement) that Alabama use the AIA’s uniform CPA exams in the future. The direct effect of this decision appears to be that only one Alabama CPA candidate passed the November 1919 exam.

Figure 3 Written notes about Audit Exam on AIA Copy

Materials for this article came from Mary Baily’s History of the ASCPA 1919-1965 and published AICPA documents.

TEST YOUR KNOWLEDGE! Note from the author: I purposely did not define certain words gleaned from the first Alabama CPA exam. I felt it would be interesting to see if modern accountants could ferret out their meaning in light of current usage. Let’s see if you can you can give the appropriate modern name for a current account from the archaic terminology of 1919 from Figures 1 & 2 above. The five terms are: Archaic Account Title Modern Account Title

1.

Drayage outward (or inward)

___________________________

2.

Productive vs Unproductive labor

___________________________

3.

Book Debts

___________________________

4.

Surplus of Former Fiscal Period

___________________________

5.

Collection and Exchanges

___________________________

Please send your response to jan.heier@hawks.huntingdon.edu. The person who gets all of them correct will get $100 donated to the Education Foundation in their name. In case of multiple correct answers, a winner will be randomly selected from the correct entries.

15

meet Greg Can a Banker Become an Award-winning Accounting Professor?

prerequisite courses for their masters of accounting program. It was during this time that I met Dr. Jeanne Sylvestre, well known to accounting students who attended USA 1980 - 2009. She made quite an impression on me and would later play a critical role in my transition to accounting educator.

After finishing the masters program in 1993, Dr. Sylvestre and other faculty members encouraged me to sit for the CPA exam.

Although having the certification was not necessary for my job in banking, I took the old Conviser-Duffy Review Course taught

by Dr. Frank Urbancic and sat for the exam during May 1994 – passing all four parts on my first attempt.

Dr. Gregory Prescott is the ASCPA’s Outstanding Accounting Educator for 2016 Where did you grow up? I grew up in a small town in Northwest Florida known as Paxton.

It is very close to the Florida/Alabama line.

The only reason most folks have ever heard of the town is that U.S. Highway 331 goes right through Paxton and is a popular route to the northwest Florida beaches. The town was so small that I attended kindergarten through 12th grade at a single school – Paxton School.

Despite the size of the town and the school, I got a great education there and we had a dynamite basketball program that helped to put the town on the map! To this day, I still fondly recall the incredible instruction I received from Mrs. Margaret Powell (advanced math courses) and Mrs. Lynne Wise (English courses).

When did you decide on accounting as a career? How has your career path developed? The path I took to a career in accounting is probably not typical by any means. I attended Troy University’s main campus (then Troy State University) and graduated in 1983 with a B.S. in Business Administration and concentration in management. Finding slim job opportunities with a degree in management, and having no related work experience, I took a job with Central Bank of the South in Birmingham (now BBVA Compass) working in the commercial credit department. In that job, I was responsible for analyzing the financial statements (and sometimes income tax returns) of businesses that had applied for large commercial loans. After being promoted to a regional manager position in Mobile in 1985, I quickly concluded that I needed more training in accounting in order to really master my job responsibilities. As a result, I enrolled at the University of South Alabama (USA) to take accounting

It was about this time that Dr. Urbancic, who was the Department of Accounting chair, approached me about teaching a principles class on an adjunct basis. After teaching a couple of courses, I was hooked! I had found my calling in life! I greatly enjoyed teaching and discovered that my work experience gave me plenty of real world examples to share with the students to help make the material more relevant.

In January 2009, just short of my 25th anniversary with the bank, I retired from Dr. Gregory Prescott banking to focus 100% on my teaching at USA. Later that year I learned of an innovative doctoral program in accounting offered by Kennesaw State University in the greater Atlanta area. Since Drs. Sylvestre and Urbancic had long encouraged me to pursue doctoral education, I decided this might just be the opportunity I had been seeking since finishing the masters program in the early 1990s. I graduated from the Kennesaw program in spring 2014 and quickly transitioned into a tenure-track position at USA. I have often said that my friendship with Dr. Sylvestre slowly evolved over the years from professor to colleague to mentor to friend. While my mother is responsible for the person I am today, Dr. Sylvestre is largely responsible for the educator I have become.

In addition to teaching at USA, since 1998 I have been a lecturer with the Alabama Banking School, sponsored by the Alabama Bankers Association.

In that capacity, I have taught accounting, commercial lending, and other risk-management topics. I was also the course coordinator and lead instructor for the Becker CPA Review Course in Mobile from 1997 through 2014.

16

MEMBER PROFILE

What has surprised you the most as your career has evolved? With respect to my career in academe, I have been most surprised by how rewarding teaching has been. In banking, even when I thought I had done a really good job on a tough project, I never got a ‘thank you’ note from anyone. In education, I get emails, letters, cards, and expressions of appreciation from students virtually every semester. When I received my first card from a former student (from Singapore, no less), I shared it with Dr. Urbancic because I was so stunned by the gesture. He suggested that I devote a drawer or a small box to retaining such notes over the years.

“You’ll get more of those in time and, one day, you will want to get them out and read them over again – especially at those times when you are questioning WHY you chose this profession.” His advice was right on and today that box is overflowing with great memories.

he could hear the 60 Minutes™ stopwatch ticking in his mind. Although I couldn’t relate to his situation at the time, now that I am in a tenure-track position, I have to admit that I sometimes ‘hear’ the tenure clock ticking in my head! As a result, it can be really difficult to enjoy complete downtime – time when I’m not teaching, preparing to teach, or working on a paper for submission to a journal.

I am a recovering athlete wannabe. Although I played basketball and tennis and ran cross-country in high school, I was not good enough to be an athlete at the college level. Nevertheless, I am a huge fan of college sports (especially football and basketball) and continue to be a life-long fan of the Atlanta Braves (even during the rough years!). Also, I enjoy playing a little tennis and a pick-up game of basketball – as long as all participants are as age-challenged as I am.

In the next few years, I plan to begin taking some long-delayed trips to destinations all over the map. I really want to see the western United States, including some of our great national parks. I also want to take the really long flight to Australia. From what I know of the culture and history of Australia, it would truly be an exciting place to visit.

What prompted you to become a member of the ASCPA? How did membership benefit you as a CPA and educator? I have probably been a member of the ASCPA for more than twenty years now. Upon passing the CPA exam, I thought it was prudent to join the state society and I’m glad I did. As a result of my membership, I have attended a number of CPE courses sponsored by the ASCPA as well as others sponsored by the Mobile Chapter.

Those seminars are always top-notch and provide me with the opportunity to network with accounting professionals – including some of my former students.

Now that I am in education full time, I have regularly attended the ASCPA Educator Conference in October.

At those meetings, I attend sessions designed to address the specific needs of fellow educators and am able to network with colleagues from around the state.

What keeps you inspired and motivated each day?

Most of the students I teach are traditional students and I have found this to be a double-edged sword.

On the one hand, they possess a level of energy and enthusiasm for learning that never ceases to amaze me. In every class each semester, there are always at least a few students who are as passionate about learning accounting as I am about teaching it. They are the ones who keep me motivated. On the other hand, the millennials typically have the attention span of a nanosecond. Therefore, I am constantly challenged to develop techniques and approaches to keep them engaged. To be frank, it is an ongoing struggle.

What do you do to relax away from the office?

Hobbies? Travel? Years ago, in explaining his test anxiety, a student told me that while taking exams

17

MEMBER NEWS MOVING ON & UP

JACKSON THORNTON has announced multiple promotions. ASHLEY S. TAYLOR was promoted to senior manager.

Taylor, who joined the firm in 2008, specializes in litigation services related to commercial fraud, lost profits, and loss of business value.

She is a graduate of the EMERGE Torchbearers Leadership Class IV and was voted their Young Professional of the Year in 2015. Taylor currently serves on the EMERGE Montgomery board of directors as president, the Kiwanis Club of Montgomery board of directors, the Chamber’s Women in Business Task Force, and the Mayoral Young Professional Council. She received her undergraduate and graduate degrees from Auburn University Montgomery.

ASHLEY CALDWELL and MARK UNDERHILL have been promoted to manager at Barfield Murphy Shank & Smith.

Caldwell has 8 years of experience in public accounting, specializing in employee benefit plan audits as well as serving clients in the not-forprofit and governmental industries. Underhill has 8 years of experience and specializes in tax planning, consulting and compliance for real estate, film

and entertainment, technology and other professional services businesses. Outside of his client responsibilities, he is the lead recruiter and interviewer for the firm at the University of Alabama. He is a member of the University of Alabama’s Accounting Alumni Young Professionals Board where he serves as treasurer. Promoted to supervisor were ALISON MONTANARO, GRAHAM TRAVERS, JOHN HAGGARD, and MEREDITH PAYNE. Additionally, DANA MARSHALL, HANNAH AVERY, JAKE BECHERT, and ROBBY LILLY were promoted to senior accountant; ABIGAIL MISSILDINE AND AUSTON SULLIVAN were promoted to staff accountant B.

WILLIAM K. SHEFFIELD is now a senior manager.

Sheffield joined the firm in 2012 with six

years of prior public accounting experience.

He specializes in audit and has worked with utilities, municipalities, and closelyheld businesses. Sheffield currently serves on the Montgomery Auburn Club board of directors as treasurer and on the Boys Work Committee of the Montgomery YMCA. He has also served on the Junior Executive Board of the Montgomery Museum of Fine Art. He is a graduate of the EMERGE Torchbearers Leadership Class V. Sheffield received his undergraduate and graduate degrees from Auburn University. DEREK DUBOSE and JENNA ROTON have been promoted to manager.

Machen McChesney announced the promotion of JESSICA L. PAGAN, to senior manager and AMELIA B. BLESSING and ALAN CRAFT to manager.

PAGAN has been with Machen McChesney since 18

2003 and received her undergraduate and MAcc from Auburn University.

She specializes in business and individual tax and provides tax, accounting, auditing, and advisory services to construction, manufacturing, other businesses and nonprofit organizations. BLESSING joined the firm in 2008, also receiving her degrees from Auburn. Blessing conducts governmental audits, including OMB single audits, nonprofit audit and taxation, and manufacturing audit and taxation. CRAFT has been with Machen for three years and is an Auburn graduate. He works with clients in a number of industries, including credit unions and community banks, employee benefit plans, governmental and nonprofit. His expertise includes accounting, audit, tax and business advisory services for a variety of businesses. In addition, LAUREN LEON has been promoted to supervisor.

Hartmann, Blackmon & Kilgore recently welcomed RACHEL GODWIN as a shareholder in the firm. Godwin has been with hb&k since 2001 and currently serves as director of the firm’s audit and accounting services.

She has more than 15 years of experience and specializes in accounting

and audit engagements for businesses, governments, municipalities and nonprofits. Godwin lives in Jay, Florida and maintains both Florida and Alabama licenses. She is a graduate of the University of West Florida with undergraduate and masters of accounting degrees.

BRETT HENRY has been named to the assurance and accounting services team of Price CPAs, PLLC of Nashville. He has an MBA from Troy University and is licensed in both Alabama and Tennessee. He moved to Nashville after stints at Prichard Dewberry & Hodges (Mobile) and Gibson & Carden (Troy).

CONGRATULATIONS

JAMES FOYT, managing partner of Executive Benefits Specialists (EBS), has been elected to serve a two-year term representing associate members on the board of directors of the Georgia Bankers Association (GBA).

Before co-founding EBS in 1998, Foyt spent 12 years with Arthur Andersen assisting large public and private companies, including several regional financial institutions. As part of his responsibilities managing a tax practice, he worked with many clients to implement executive benefit plans. He earned his accounting degree from Auburn University and is a past member of

the Auburn University Accounting Advisory Board.

COMMUNITY NEWS

KASSOUF & CO., WILKINS MILLER AND BARFIELD, MURPHY, SHANK & SMITH, have all been named one of the 2016 Accounting Today’s Best Accounting Firms to Work For. To be considered for participation, companies had to fulfill the following eligibility requirements: • Be a public accounting firm in the U.S.; • Have a minimum of 15 employees working in the U.S.; and,

• Must be in business a minimum of one year.

Companies from across the United States entered the two-part survey process to determine the Best Accounting Firms to Work for. The first part consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25 percent of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part

of the process was worth approximately 75 percent of the total evaluation.

The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process, analyzed the data, and determined the final ranking.

BARFIELD, MURPHY, SHANK & SMITH (BMSS) began its planned growth strategy across Alabama by announcing its merger with Himmelwright, Huguley & Boles, an Auburn-Opelika CPA firm.

The merger will take place

on January 1st, 2017, bringing the combined entity to a total of 140 employees. The firms will consolidate under the name Barfield, Murphy, Shank & Smith, LLC. Himmelwright, Huguley and Boles (HHB) has provided a broad range of accounting, tax, and advisory services since 1998 to both businesses and individuals—including several specialties that now broaden BMSS’ offerings. Specifically, the firm provides a robust outsourced bookkeeping service. HHB also provides accounting and auditing services

to a variety of industries such as medical practices, farming/timber and governmental entities.

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19

Does anybody really know what time it is?

IT’S TIME TO SIGN UP. WHAT: WHO: WHY:

HOW:

2017 Student Guide to Alabama Accounting Firms Open by subscription to all public accounting firms. $100 for a full page, $500 for firm listing plus a full page ad.

The Guide is a simple reference to 50 public accounting firms in the state. It provides snapshots of firms as a resource for college students entering the workforce.

More than 1500 Guides are distributed during each academic year.

Mail, email or fax your registration form to Shirley Carroll, scarroll@ascpa.org, for inclusion in this year’s Guide.

The form is available on the ASCPA website.

DEADLINE IS NOVEMBER 18.

Don’t get left behind. The clock is ticking.

20

Come join the class!

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800.906.9654 GilsbarPRO.com 21

WHEREA LOOK AREBACKTHEY AT NOW? THE ASCPA’S INTERNS. 2015

2014

Kristen Maturi

Rebecca Vosghanian Schweiger

Non-traditional student does not even begin to describe Kristen Maturi. After 15 years with Alabama’s Department of Forensic Sciences, she decided to start a journey to CPA certification and a completely new career. She already had both a degree in biology from Troy University and master of science in pharmacy from the University of Florida, but needed some accounting courses before embarking on the MAcc program at Auburn Montgomery. Kristen has testified in court many times in her role as a forensic scientist and hopes she can perform litigation support as a CPA. We don’t think that anyone in court would dream of disputing her testimony; she’s also a 2001 graduate of the Montgomery Police Academy! Kristen received a scholarship from Becker Review and is currently sitting for the CPA exam. In July 2016 she accepted a position with Parker Gill Eisen & Stevenson. Just the facts, ma’am.

Rebecca is the only intern at the ASCPA who was already a CPA when she came to us!

She attended the University of Alabama, worked for a couple of years at a credit union in Birmingham, then decided to get her graduate degree at UAB. She moved back to Montgomery and spent a summer studying for the CPA exam. While doing that, she needed to complete her experience requirement and spent time with Keary Foster at Wealth Management Partners.

Following her internship with the ASCPA, a position opened up, and Rebecca was hired as finance manager.

AUBURN MONTGOMERY

Kali Martin HUNTINGDON COLLEGE

Kali came to us as a junior accounting major at Huntingdon College and has remained close to us ever since. In spring 2016, she received the Accounting Achievement Award as Huntingdon’s top accounting graduate.

In addition, she received an Educational Foundation scholarship for her graduate year, which she began at Auburn Montgomery in summer 2016. She did an internship as assistant to Sherry Myers, co-owner of the Montgomery Biscuits baseball team, and is now employed at Jackson Thornton. Kali recently got married and lives in Prattville, Alabama, where her husband’s family business is located.

UA/UAB

It must be something in the numbers, since both she and CFO Amanda Freeman were expecting babies two months apart this summer. Rebecca and husband Adam had a girl on August 2, Cori Jane, while the Freemans welcomed Charles Adam on May 31.

Dena Roate AUBURN MONTGOMERY

Dena came to the Alabama Society as another non-traditional student. She was an educator for 11 years at a private Christian school in Montgomery and once her own children were successfully launched decided to seek to fulfill her personal education goals.

She completed her undergraduate degree at Auburn Montgomery and is currently sitting for the CPA exam while working for a small Montgomery firm, Vogel and Associates.

Dena received a scholarship from Becker Review to assist with her exam studies.

22

2013

David Quick AUBURN MONTGOMERY

David was a top student at Auburn Montgomery and came highly recommended

by Dr. Keren Deal. He was graduated in May 2013 and joined the Alabama Department of Examiners of Public Accounts the following August. He had fallen in love with government accounting and auditing while an undergraduate and is excited to be performing financial, federal and legal compliance audits of county governments based in Escambia County. He’s planning on studying for the CGFM designation, following that with CFE certification before going to graduate school and becoming a CPA.

2012

Larry Pritchett HUNTINGDON COLLEGE

Larry left Montgomery after graduating from Huntingdon College and attended graduate school at the University of Mississippi. He earned his CPA certificate in Florida and is an assurance associate for PWC in their Ft. Lauderdale office. Blessed with a sunny spirit and great sense of humor, Larry taught us that baby turkeys are called “polts”. His dad took him on legendary hunting trips over the years, making him just as comfortable in the woods as in a client’s office.

Jacob Studdard

AUBURN MONTGOMERY Jake was a very serious and committed intern, already married and ready to purchase a home while with us. He completed his degree at Auburn Montgomery and joined Jackson Thornton’s Wetumka office as an intern during the 2013 tax season. He is now a full-time staff member. He continued to take classes in order to sit for the CPA exam, completing all parts in March 2016. He may have been quiet in the office but managed the Accounting Interview Day program with a steady hand and asserted himself effectively during the event. He and his wife are parents of Kinsley Grace, born in June 2016.

2010

2007

2006

HUNTINGDON COLLEGE

ALABAMA STATE UNIVERSITY

HUNTINGDON

In doing research for this article, the ASCPA staff was saddened to learn that Darrius died unexpectedly in September 2012 at age 27. He had been working as an accounting specialist at Mobis, a Hyundai supplier in Montgomery, for the previous 4 ½ years. He was always cheerful, and dressed impeccably in a preppy style. He was recognized by the College of Business Administration (COBA) at ASU as a Student of the Year nominee, was a COBA Model Student, ASU Young Council member and the treasurer for ASU’s National Association of Black Accountants chapter.

Nicole was the ASCPA’s very first intern, an experiment so successful that it has grown and grown over the last ten years. She was a superstar student at Huntingdon, and moved to the University of Alabama for her graduate year. Unfortunately, she became ill, had to withdraw from school and return to Enterprise for an extensive recovery. Nicole went back to Tuscaloosa and completed her degree, took and passed the CPA exam, then joined Deloitte as an audit associate in their Atlanta office. She moved to corporate accounting with Home Depot four years ago, working on employee payroll, workman’s compensation, medical insurance and other personnel issues.

Olivia Foster

Olivia was graduated from Huntingdon College in April 2011. At that time, she was promoted to controller at Admiral Movers, where she’d been employed during much of her college years. She handled all accounting functions, scheduled crews, did background screening, tracked claims, created estimates and registered moves. In April 2012 she moved to Birmingham and began working as a relocation coordinator for Southern Company. Olivia was creative and joyful. A piece of her art, painted for the ASCPA team, hangs in the intern office. She drops in when she can, most recently stopping by the annual members meeting in Birmingham.

Jody Thrasher

Darrius Hillary Nicole Weldon Auvil

AUBURN MONTGOMERY Joe D. Thrasher was a non-commissioned officer in the U.S. Army for seven years, serving multiple tours in Iraq in force protection and static security roles. On his return to Alabama he was a double major in accounting and finance in order to gain 150 hours to sit for the CPA exam. He joined Aldridge Borden in 2011 and remained there until leaving to form his own firm with partners Jeremy Moreland and Michael Shaw in November 2014. MST CPAs and Advisors provide traditional accounting services, while also performing outsourced CFO and controller roles. As a non-traditional student and veteran, Jody brought a dry humor and worldly perspective to everything he did at the Alabama Society. Instead of a goingaway cake, he requested Mexican food, and we were happy to oblige. He is the proud dad to four year old boy/girl twins.

877-277-0272 David L. Akins, CPA

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2008

Dorothy Benson AUBURN MONTGOMERY

There are times when the train stays on the track and times when it gets stuck on a siding or takes an unexpected turn. Dorothy came to the Society after delaying completion of her degree for a couple of years. She was always exercising her accounting chops, however, by working for a tax preparation service in Montgomery for 24 years. She’s actively sitting for the exam and hopes to be a CPA very soon.

www.AkinsProfessionalBrokerage.com

23

HELPING CLIENTS WITH DISABLED CHILDREN Melanie Bradford, Executive Director Alabama Family Trust

Y

our clients assume that you will prepare their tax returns correctly, advise them of any deductions or credits they should take, and, generally, keep them out of trouble with the IRS and state. However, you can do more to build a trusted relationship with your clients that extends beyond preparing a tax return; this is especially true for clients that have children or loved ones that are disabled.

1. Recommend a Review of their Estate Plan – It is fairly common for parents to have very basic wills that leave all assets to the surviving spouse, or to the children if there is no surviving spouse. For parents of disabled children, this can have devastating results. If a parent(s) leaves assets to a disabled child that receives means-tested government benefits, the child will lose eligibility for those benefits.

The child will be forced to spend the assets (usually with the help of “friends”) before becoming eligible to restore benefits.

You have the opportunity to prevent this outcome by recommending that your client see an attorney who is knowledgeable about special needs trusts.

Encourage your clients to examine the use of a will or a revocable living trust that incorporates a special needs trust to protect the assets for the disabled child.

By reviewing their plans, your clients will also be forced to think about important issues such as: naming guardians, if necessary, for a minor or incapacitated child; and creating durable financial powers of attorney and healthcare directives in the event the parent becomes incapacitated.

2. Long Term Care Insurance - Recommend to parents that they investigate long term care insurance.

Remind your clients that even if they have the best estate plan in the world, their children may not receive any inheritance at their deaths if their assets have been depleted paying for long term care.

3. Life Insurance – Recommend to parents that they investigate life insurance. Remind them that their disabled child may need significant assets for care, especially after the parents are deceased. A life insurance policy funding a special needs trust may be appropriate. Your clients will need to work with an attorney and a life insurance agent.

4. Alabama Family Trust - Parents sometimes struggle with naming a trustee. Family members will usually not be well-versed in the subject of special needs trust law and may inadvertently mismanage the trust, causing penalties and the loss of government benefits for the disabled child when the trust is audited.

24

Alabama Family Trust is a non-profit, pooled, special needs trust that can work with the person named as trustee to make sure the trust is administered correctly. Additionally, Alabama Family Trust has a charitable trust that is available to beneficiaries if their trusts are depleted or insufficient to provide for a need.

You have a unique opportunity to guide clients when they may not know they need guidance. A few minutes of recommendations may change the lives of your clients and their beneficiaries for the better. In return, besides the satisfaction of helping a client, your clients will share valuable resources with other family and friends.

Alabama Family Trust is a non-profit, 501(c) 3, pooled trust company administering special needs trusts for the disabled throughout the United States. Disabled individuals, including the elderly entering nursing homes, can place assets from legal settlements, inheritance, gifts, alimony, and other forms of assets with Alabama Family Trust and maintain eligibility for certain government benefits such as SSI and Medicaid. Parents, family members or friends can establish trusts for the disabled and know they are providing for their loved one without causing the disabled person to lose valuable government benefits. For more information, visit the website at www.alabamafamilytrust.com.

BABC SALT CORNER A number of ASCPA members have mentioned recently, and we’ve also noticed, a major uptick in the number of so-called “residency audits” conducted by the Alabama Department of Revenue (ADOR).

The Alabama Tax Tribunal has issued a number of rulings on this issue in the past few years as well. Often these audits result from the taxpayer having filed a federal income tax return listing an Alabama address, while not having filed an Alabama return.

The ADOR receives notice of this discrepancy through its exchange of information agreement with the IRS.

A textbook case is Boudreaux v.

State Dep’t of Rev., Admin. Law Div., Dkt. No. INC. 07-848 (Apr. 15, 2008), where the taxpayer moved to the U.S. Virgin Islands for business reasons, while his wife and children continued to live at their old residence in Alabama.

However, the taxpayer moved back to Alabama after only two years because his business opportunities had effectively been foreclosed by governmental changes beyond his control. Judge Thompson stated that the taxpayer’s “purchase of and active involvement in running the businesses shows that he intended to live and work

Some of our readers suggested that we outline the key criteria to be followed by an Alabama resident who wishes to change his or her domicile to another state or another country. For Alabama tax purposes, “domicile” is defined as “an individual’s true, fixed home to which he intends to return when absent.” Nonetheless, as Chief Tax Tribunal Judge Bill Thompson has noted on numerous occasions: “[t]here are [no] hard rules for determining if a person is domiciled in Alabama.” Thus, it’s a highly factsensitive determination, mixed with some relatively consistent return filing tips outlined below.

There is no “one size fits all.”

Helping Your Client Avoid a Residency Challenge After They’ve Moved Away

In general, Alabama residents include those individuals who (1) have domicile in Alabama, (2) maintain a place of abode in Alabama, or (3) spend more than seven months during the tax year in Alabama. Ala. Code § 40-18-2(b).

In order for a taxpayer to change his domicile from Alabama to another state, “a taxpayer must abandon Alabama, and also establish a new domicile elsewhere with the intent to remain permanently, or at least indefinitely.” Canady v.

State Dep’t of Rev., Admin. Law Div., Dkt. No. INC. 14-445 (Aug. 15, 2014). And “[a] person’s intent will be ascertained by examining his actions.” ADOR Rule 810-3-2.01(1)(b)(1)(i).

. . . .” Id. Thus, the taxpayer’s actions, when considered with his testimony, “show that [he] intended to live in the Virgin Islands indefinitely when he moved there.” Id. We have also found it helpful if the taxpayer files an Alabama income tax return for the year prior to moving labeled “Final Return” and attaches a statement of intent to abandon Alabama domicile as suggested by ADOR Rule 810-3-2.01(4). Other practical indicia of an intent to change domicile include such things as: • purchasing a home or signing a

• listing the new state address on the federal income tax return (and other documents); • obtaining a driver’s license in the new state; • purchasing a new car tag; • registering to vote in the new state; • opening a bank account in the new city and having paychecks deposited into that account; • obtaining professional licenses and joining professional groups in the new state; • joining a local country club, health club, church or other civic organization (e.g., the local Kiwanis or Rotary Club); and • enrolling children (if applicable) in school in the new city.

We have handled appeals in which it was helpful to show that the taxpayer changed his estate planning documents to be governed by the new state’s probate laws. We have also found that affidavits from co-workers or supervisors at the new workplace were useful. Conversely, frequent return trips to Alabama to visit loved ones (e.g., the spouse or other family members) tend to show an intent not to permanently abandon the state, especially since spouses are presumed to have the same domicile.

By Bruce P. Ely William T. Thistle, II Bradley Arant Boult Cummings LLP Birmingham, Alabama on the Islands for an extended or indefinite period. The fact that he purchased a place to live on the Islands further evidences his claim that he intended to remain indefinitely. The Taxpayer also purchased a vehicle and obtained a Virgin Islands driver’s license.

He registered to vote and filed federal tax returns as a resident of the Islands. Importantly, he put his oldest child on a waiting list at a private school on the Islands

long-term lease on an apartment in the new city; • selling the Alabama residence or listing it for sale; • notifying the county tax assessor to remove the Alabama homestead exemption from the Alabama residence if the client intends to keep the [former] residence; • filing state or local tax returns with the new state or locality (if required);

25

The suggestions in this article are by no means intended to be an exhaustive checklist, and we also realize that few taxpayers can check each one of these boxes. But it’s important for your client to take proactive measures upon deciding to move away from Alabama.

Taxpayers bear the burden of proof if the ADOR initiates a residency challenge, and according to RIA Checkpoint, the ADOR “takes a very aggressive position on the domicile issue...” So, before your clients move, be sure to talk to them about the importance of taking (and documenting) as many of these steps as possible. © August 2016.

Bruce P. Ely / William T. Thistle, II / Bradley Arant Boult Cummings.

All rights reserved.

GETTING THE MOST OUT OF ENTRY-LEVEL ACCOUNTING JOBS You did it! You’ve landed your first job in the industry, and you’re eager to get started. You have visions of finance and accounting, making recommendations to executives and overseeing critical initiatives. The reality, though, may be a bit different, as most entry-level employees aren’t given quite that level of responsibility.

But don’t get discouraged. This doesn’t mean that starter jobs can’t be satisfying. You just need to know how to get the most out of the opportunity and prove your value so you can advance in your career. Here’s what to do: • Pay your dues. Recognize that everyone begins at the bottom. A junior role may not be the most exciting to you, but you are learning things in the process. You’re also building relationships within the company and gaining a better understanding of processes in the team, both of which are critical to get ahead.

• Be observant. Look for those star employees who always seem to generate the most praise in the department and emulate their behavior.

They are good role models for what it takes to be successful in the workplace.

• Go the extra mile. Take the initiative when you see something that needs to get done, even if it falls outside the scope of your responsibilities.

For instance, you might stay late to help a colleague who’s struggling with solidifying their results. You’ll show you understand the value of being a team player, helping create a positive impression with managers and coworkers alike.

• Look at the big picture. Once you’ve been on the job for a while, assess your progress. Your first accounting position gives you the opportunity to learn more about what you’d like to do in your career and set yourself on the right path.

What types of assignments have interested you most/least so far? What seem to be your professional strengths and weaknesses? Do you need to change your career focus?

• Ask for feedback. If you don’t receive a performance evaluation during your initial months on the job, it’s worth requesting a meeting at both the three- and six-month marks. Formal reviews from your manager will give you a clearer idea of your performance to date. You can also put positive comments into

a file for future reference should you decide to pursue a promotion or change jobs.

• Take charge. Recognize that your career success rests squarely with you. Be proactive and take advantage of training opportunities. Also, don’t be afraid to pursue other positions in your company if you’ve discovered you’re not in a job that suits you.

Entry-level positions lay the foundation for achieving your professional goals. You have the chance to “wow” employers with your capabilities and positive attitude. Arrive at work with a cando mindset and aim to give your all, whether you’re handling a routine problem or helping your supervisor with an important project. You’ll show you have what it takes to move up in the organization.

Accountemps, a Robert Half company, is the world’s first and largest specialized staffing firm for temporary accounting, finance and bookkeeping professionals. Accountemps has more than 325 locations worldwide. More resources, including online job search services and the Accountemps blog, can be found at accountemps.com.

Accounting Achievement Awards 2016 The Alabama Society of CPAs is honored to recognize these exceptional students. The Accounting Achievement Award recipient is the top accounting graduate at each college or university and receive a plaque at their school’s honors day program.

Alabama A&M University Alabama State University Athens State University Auburn University Auburn Montgomery Birmingham-Southern College Huntingdon College Jacksonville State University Samford University Spring Hill College Troy University Troy University – Phenix City University of Alabama University of Alabama at Birmingham University of Alabama in Huntsville University of Mobile University of North Alabama University of South Alabama University of West Alabama

Sharanda Thomas Bryan Womack (scholarship 2015/16) Reed Zachary (scholarship 2015/16) Christopher David Porter Caroline E. Curry Claire Burns Kali K. Martin (intern 2015, scholarship 2016/17) Henry (Hal) Culp Matt Carrick Huey H. Miller (scholarship 2014/15) Preston Wallace Tiffany M. Gibson Stuart Ben Tieszen Taylor Townley Alexander N. Mascarenhas Amber Lawler Daniel Thompson Audrey J. Hofer Meizi Liu

26

CPA CPA 2017 Changes 2017Exam Exam Changes Big Thinking

Big Thinking The new CPA Exam will increase emphasis on higher order thinking by ramping up its task The new CPA Exam will increase emphasis on based simulations to test one’s ability to evaluate andorder analyze. thinking by ramping up its task higher based simulations to test one’s ability to evaluate New Scoring Three of the four Exam sections (AUD, FAR, REG) will have a new and analyze. scoring split - 50% on multiple choice questions and 50% on task

based simulations. The other section (BEC), will be scored with multiple choice questions counting for 50% and written New Scoring communications at 15% and task based simulations at 35%. The Three of made the this four Exam sections (AUD, FAR, REG) will ha AICPA change to ensure the CPA Exam was more reflective of the scenarios amultiple newly licensed CPA would experience and 50% scoring split 50% on choice questions in the workplace.

based simulations. The other section (BEC), will be scor Break Time multiple choice questions forwith 50% All those who sit for the Exam willcounting now be provided a and written standardized 15 minute break that does not count against your communications at 15% and task based simulations at 3 total Exam time.

AICPA made this change to ensure the CPA Exam was m reflective of the scenarios a newly licensed CPA would e in the workplace.

2016 Counts Parts passed in 2016 do not need to be retaken when the Exam Breakchanges Timein April 2017. But, all four sections still need to be completed within the 18 month allotted timeframe provided by All those who sit for the Exam will now be provided the AICPA.

wit standardized 15 minute break that does not count agai total Exam time.

Extended Testing Windows AICPA will be adding 10 more testable days to the last month of every testing window in 2016 and 2017, except the Exam launch window (Q2 2017).

2016 Counts Scoring Timeline PartsTest passed in 2016 do not need to be retaken when Scores for the Exams taken in April/May 2017 will be released changes in after April still need t 10 weeks the 2017. last Exam But, date inall thatfour windowsections to ensure the AICPA can correctly calibrate the Exam. The other two Exam completed within the 18 month allotted timeframe pro windows in Q3 and Q4 will release Exam scores 10 days after the testing window is complete. the AICPA. 27

AICPA BENEVOLENT FUND The AICPA Benevolent Fund was established in 1933 by members of the American Institute of Certified Public Accountants for the purpose of assisting fellow members through temporary periods of financial difficulty.

The Fund provides assistance with meeting daily subsistence (living) expenses, and medical and prescription expenses that exceed insurance coverage brought about by serious illness, an accident, or the death of the primary source of family income.

• Temporary monthly living expenses • Temporary monthly medical, mental and prescription expense payments that exceed insurance coverage • Medicare or other health insurance premiums • Most medically necessary services for dependent children (under age 21) • One-time Emergency Grants • Other, as deemed appropriate by the Board of Trustees.

Evaluation Process • Financial assistance grants are provided on a case-by-case basis depending on financial need and circumstances surrounding that need.

• Grant recipients shall exhaust all sources of income available before receiving aid from the Benevolent Fund.

• Grant recipients shall first seek all publicly available sources of support.

• Additional information can be obtained by contacting the Fund Administrator at 866-527-2228 or accessing the application.

AICPA Benevolent Fund Assistance Eligibility Requirements

Download the Benevolent Fund Application at AICPA.org

Who is eligible to receive assistance?

• Current voting AICPA members.

• Surviving spouse of a person who was a current voting AICPA member, at the time of their death.

• Dependent children (under the age of 21) of a person who was a current voting AICPA member, at the time of their death.

• All of the above persons must exhibit a financial need.

Download the application instructions at AICPA.org The maximum monthly assistance amount and duration of receipt shall be determined by the Fund’s Trustees on a semi-annual basis.

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28

REMEMBERING

JAN WALSTON AFFHOLTER October 28, 1956-June 7, 2016 Jackson, Alabama │ Certificate 5720

RAYMOND LEE HUTCHINS October 18, 1957-June 5, 2016 Jacksonville, Florida │ Certificate 2333

Mr. Hutchins died unexpectedly in a boating accident off the Georgia coast June 5, along with his wife Laura, a well-known Montgomery dance teacher. They were sailing their 21 foot pontoon boat when it became grounded. Investigators theorized that the couple got off the boat to help it refloat, then were caught by surprise when it came free, possibly on a rapidly rising tide, leaving them adrift without life jackets. The boat was found Monday morning with its engine still running and their dog aboard.

The couple had called Hutchins’ son Lee, with whom he was in business, on Sunday afternoon to report that they were stranded.

When he didn’t hear back by Monday, Lee Hutchins contacted the Coast Guard. They launched a search which eventually included more than 1000 square miles. Hutchins’ body was recovered Tuesday and Laura’s on Friday.

Ray Hutchins was from Tuscaloosa, a graduate of the University of Alabama. He and his wife had recently celebrated their fourth anniversary. He was a fan of both Alabama football and gin and tonics, loved his brothers, doted on his mother and was always there for any family member who needed him. He was a member of the ASCPA for more than 27 years. The family requested that any memorials go to the Coast Guard Foundation in memory of the couple.

Ms. Affholter was employed for many years by Alabama River Pulp as well as Alabama River Newsprint, Boise and Olin. She was a faithful member of Sacred Heart Catholic Church and the family asks that memorial donations be made to Sacred Heart or to First United Methodist of Jackson.

LARRY WAYNE NELSON

June 18, 1942-June 22, 2016 Birmingham, Alabama │ Certificate 2055 Mr. Nelson was a graduate of Jacksonville State University, an Air Force veteran and worked for the U.S. Treasury. He died at UAB Hospital on June 22. He was a native of Randolph County and returned there to be buried at Levens Baptist Church Cemetery in Wedowee.

THOMAS RANSOM DAY

September 8, 1932-July 3, 2016 Clanton, Alabama │ Certificate 694 Mr. Day worked for several big eight accounting firms in Birmingham, moving to Clanton in 1966 to build his own firm. He retired in 1988 and moved with his wife Betty to St. George Island in the Florida panhandle. He suffered from Alzheimer’s in his latter years, leading to his death. His family and friends held a celebration of his life near his home on St. George and, according to his request, his ashes will be spread as the tide goes out at Sike’s Cut. He was a member of the ASCPA for 39 years.

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29 Trustmark - Alabama CPA Magazine 8 x 5 - HP 4C

2016 CPE SESSIONS 113 Surgent’s Audit Skills Training: Level 1 - New Auditors 9/1/2016 | 8:30 AM 16 AA | Birmingham 084 Becoming an AICPA Peer Review Team or Review Captain: Case Study Application 9/8/2016 | 8:30 AM 8 AA | Montgomery 116 2016 FASB Update for the Real World 9/13/2016 | 8:30 AM 4 AA | Montgomery LS116 2016 FASB Update for the Real World 9/13/2016 | 8:30 AM 4 AA 114 Advanced Auditing of HUD-Assisted Projects 9/13/2016 | 8:30 AM 8 AA | Birmingham 115 Beyond CPA “Best Practices” - Taking Next Steps in the Future of the Client/Customer Service 9/13/2016 | 8:30 AM 8 Other | Birmingham 161 The New Leasing Standard: it’s here and it’s huge 9/13/2016 | 1:00 PM 4 AA | Montgomery LS161 The New Leasing Standard: it’s here and it’s huge 9/13/2016 | 1:00 PM 4 AA 117 Annual Update for Governments and Not-forProfits 9/14/2016 | 8:30 AM 4 AA | Birmingham

120 Applying “Lean” Thinking to Making Employees Your Competitive Advantage 9/14/2016 | 1:00 PM 4 Other | Birmingham 118 Blue Oceans and Clean Paper - Using the ACA and Wellness as a Catalyst to Move Organizations 9/14/2016 | 8:30 AM 4 Other | Birmingham 119 Not-for-Profit Accounting and Auditing: Practical Cases for CPAs 9/14/2016 | 1:00 PM 4 AA | Birmingham 121 What’s New In Compilation, Review & the Cash and Tax Basis of Accounting 9/14/2016 | 8:30 AM 8 AA | Montgomery LS121 What’s New In Compilation, Review & the Cash and Tax Basis of Accounting (Latest Edition) 9/14/2016 | 8:30 AM 8 AA 124 Applying the Uniform Guidance for Federal Awards in Your Single Audits 9/15/2016 | 8:30 AM 8 AA | Montgomery 122 FASB’s Triple Threat: Practical Responses to the New Standards for Revenue Recognition, Leases, and Financial Instruments 9/15/2016 | 8:30 AM 8 AA | Birmingham 126 How Good Companies Become Great: Secrets to Success 9/15/2016 | 1:00 PM 4 Other | Montgomery

t Yellow Book credit |

For full schedule, see the CPE catalog or visit www.ascpa.org.

123 Integrated Estate, Financial and Asset Protection Planning - A Breakthrough Approach 9/15/2016 | 8:30 AM 8 TX | Birmingham 125 Lean Accounting: Apply Lean Thinking to Financial Management 9/15/2016 | 8:30 AM 4 Other | Montgomery 127 Accounting Six Pack: You Get to Choose 9/16/2016 | 8:30 AM 8 AA | Birmingham 128 Estate Planning - Local Issues 9/16/2016 | 8:30 AM 8 TX | Birmingham 129 Executive Education’s Annual CFO Spotlight: 4 Select Issues 9/16/2016 | 8:30 AM 8 Other | Montgomery 132 Applying the Risk Assessment Standards to Enhance Audit Quality 9/19/2016 | 1:00 PM 4 AA | Birmingham 133 Critical New COSO Internal Control Framework Concepts 9/19/2016 | 8:30 AM 4 AA | Mobile

131 Forensic Accounting: Uncovering Schemes and Scams 9/19/2016 | 8:30 AM 4 AA | Birmingham 130 How to Settle and Estate for a Client from A to Z 9/19/2016 | 8:30 AM 8 TX | Birmingham

141 Maximizing Your Social Security Benefits 9/20/2016 | 8:30 AM 4 TX | Mobile 142 Proven Controls to Steer You Clear of Fraud 9/20/2016 | 1:00 PM 4 AA | Mobile

135 Simplify Your Reporting

by Converting to FRF for SMEs 9/19/2016 | 1:00 PM 4 AA | Mobile

145 Basis Calculations & Distributions for Pass-Thru Entity Owners Schedule K-1 Analysis 9/21/2016 | 8:30 AM 8 TX | Birmingham

140 A Guide to the New Revenue Recognition Model for All CPAs 9/20/2016 | 8:30 AM 4 AA | Mobile

148 Controller/CFO Update: Hot Topics Facing Today’s Financial Professional 9/21/2016 | 8:30 AM 4 Other | Mobile

144 Audits of 401(k) Plans 9/20/2016 | 8:30 AM 8 AA | Montgomery

149 Estates and Trusts: Mastering Complex Income Tax Issues 9/21/2016 | 1:00 PM 4 TX | Mobile

138 Common Frauds and Internal Controls for Revenue, Purchasing, and Cash Receipts 9/20/2016 | 8:30 AM 8 AA | Birmingham 139 Federal Tax Update - Individual & Business Current Developments 9/20/2016 | 8:30 AM 8 TX | Montgomery

136 Federal Tax Update - Business Current Developments 9/19/2016 | 1:00 PM 4 TX | Mobile

137 Fiduciary Income Tax Returns - Form 1041 Workshop with Filled-in Forms 9/20/2016 | 8:30 AM 8 TX | Birmingham

134 Federal Tax Update - Individual Current Developments 9/19/2016 | 8:30 AM 4 TX | Mobile

143 Mastering Basis Issues for S Corporations, Partnerships, and LLCs 9/20/2016 | 1:00 PM 4 TX | Mobile

146 Fraud Workshop 9/21/2016 | 8:30 AM 8 AA | Birmingham 150 Gaining a Competitive Advantage: Critical Skills for CFOs and Controllers 9/21/2016 | 1:00 PM 4 Other | Mobile 151 Identity Theft: Preventing, Detecting, and Investigating Identity Theft 9/21/2016 | 8:30 AM 8 AA | Montgomery 147 Reviewing Individual Tax Returns: What Are You Missing?

9/21/2016 | 8:30 AM 4 TX | Mobile 154 Fraud Workshop 9/22/2016 | 8:30 AM 8 AA | Montgomery

Webcast | $30 discount | $175/4hr course | $275/8hr course | Save $25 by registering 10 days in advance 30

153 IRAs - Contributions & Distributions for Traditional, Roth, SEP & SIMPLE IRAs 9/22/2016 | 8:30 AM 8 TX | Birmingham

163 K2’s Technology for CPAs - Don’t Get Left Behind 9/27/2016 | 8:30 AM 8 Other | Huntsville

164 The Top 10 Tax Topics of 2016 152 Upcoming Peer Review: 9/27/2016 | 8:30 AM Is Your Firm Ready?

8 TX | Montgomery 9/22/2016 | 8:30 AM 8 AA | Birmingham LS164 The Top 10 Tax 157 Advanced Concepts in SSARS 21 and Nonattest Services: Are You Certain You Are in Compliance?

9/26/2016 | 8:30 AM 8 AA | Huntsville 158 Individual Income Tax Update 9/26/2016 | 8:30 AM 4 TX | Montgomery LS158 Individual Income Tax Update 9/26/2016 | 8:30 AM 4 TX 156 K2’s Excel Tips, Tricks, and Techniques for Accountants 9/26/2016 | 8:30 AM 8 Other | Huntsville 159 S Corporation, Partnership, and LLC Tax Update 9/26/2016 | 1:00 PM 4 TX | Montgomery 155 Surgent’s Audit Skills Training: Level 2 - Staff Accountant 9/26/2016 | 8:30 AM 16 AA | Birmingham 162 Identity Theft: Preventing, Detecting, and Investigating Identity Theft 9/27/2016 | 8:30 AM 8 AA | Huntsville

Topics of 2016 9/27/2016 | 8:30 AM 8 TX 170 A Practical Guide to Small Business Health Insurance and Fringe Benefits: 2016 and Beyond 9/28/2016 | 8:30 AM 8 TX | Huntsville 171 Annual FASB Update and Review 9/28/2016 | 8:30 AM 4 AA | Huntsville 169 Fraud and Cash Receipts: Common Frauds and Internal Controls 9/28/2016 | 1:00 PM 4 AA | Birmingham 168 K2’s Tech Tools and Gadgets for a More Efficient You! 9/28/2016 | 1:00 PM 4 Other | Birmingham 166 K2’s Top PDF Features You Should Know 9/28/2016 | 8:30 AM 4 Other | Birmingham 172 Position Your Organization for Success: Strategies for Today’s Competitive Environment 9/28/2016 | 1:00 PM 4 Other | Huntsville

t Yellow Book credit |

167 Practice Issues in Preparation, Compilation and Review Engagements 9/28/2016 | 8:30 AM 4 AA | Birmingham

160 K2’s Excel Best Practices 9/29/2016 | 8:30 AM 8 Other | Birmingham

165 Surgent’s Audit Skills Training: Level 3 Experienced Staff 9/28/2016 | 8:30 AM 16 AA | Birmingham

177 Preparing Special Purpose Framework Financial Statements: Cash, Modified Cash and Tax Basis 9/29/2016 | 8:30 AM 4 AA | Huntsville

178 Analyzing Costs, Productivity, and Efficiency: Three Ways to Boost Your Bottom Line 9/29/2016 | 1:00 PM 4 Other | Huntsville

175 Proven Controls to Steer You Clear of Fraud 9/29/2016 | 1:00 PM 4 AA | Birmingham

173 Community Banking Update 9/29/2016 | 8:30 AM 8 AA | Birmingham 176 Determining How Much Money You Need to Retire, and Tax Ideas and Money Management in Retirement 9/29/2016 | 8:30 AM 8 Other | Huntsville 179 Focus on the Mission: Not-for-Profit Accounting and Reporting Today and Tomorrow 9/29/2016 | 8:30 AM 8 AA | Montgomery LS179 Focus on the Mission: Not-for-Profit Accounting and Reporting Today and Tomorrow 9/29/2016 | 8:30 AM 8 AA 174 Fraud Basics: Protecting the Company Till 9/29/2016 | 8:30 AM 4 AA | Birmingham

182 Financial Statement Disclosures: A Guide for Small and Medium-Sized Businesses 9/30/2016 | 1:00 PM 4 AA | Birmingham 183 Introduction to Excel PivotTables 9/30/2016 | 1:00 PM 4 Other | Birmingham 184 Latest Developments in Government and Nonprofit Accounting and Auditing 2016 9/30/2016 | 8:30 AM 8 AA | Montgomery

180 The Statement of Cash Flows: Preparation Guidance & Presentation Illustrations 9/30/2016 | 8:30 AM 4 AA | Birmingham 189 Staff Tax Training: Level 1 10/24/2016 | 8:30 AM 16 TX | Birmingham 190 Staff Tax Training: Level 2 11/15/2016 | 8:30 AM 16 TX | Birmingham 185 The Best Federal Tax Update Course by Surgent 12/1/2016 | 8:30 AM 8 TX | Mobile 186 The Best Federal Tax Update Course by Surgent 12/2/2016 | 8:30 AM 8 TX | Montgomery LS186 The Best Federal Tax Update Course by Surgent

12/2/2016 | 8:30 AM 8 TX

191 Staff Tax Training: Level 3 LS184 Latest Developments 12/5/2016 | 8:30 AM in Government and 16 TX | Birmingham Nonprofit Accounting and Auditing 2016 187 The Best Federal 9/30/2016 | 8:30 AM Tax Update Course by 8 AA Surgent 181 Sirote’s Hottest Tax Developments for 2016 9/30/2016 | 8:30 AM 4 TX | Birmingham

12/19/2016 | 8:30 AM 8 TX | Birmingham 188 The Best Federal Tax Update Course by Surgent 12/20/2016 | 8:30 AM 8 TX | Huntsville

Webcast | $30 discount | $175/4hr course | $275/8hr course | Save $25 by registering 10 days in advance 31

THANK YOU!

Thank you to partners, sponsors and exhibitors who make ASCPA programs possible.

Aon AICPA Member Insurance Programs Platinum Premiere Partner

PNC Bank

Premiere Partner

Paychex

ASCPA Partner

SPONSORS AND EXHIBITORS Accounting Practice Sales Advantage Payroll Services AGIS Network Alabama Family Trust Alabama Opportunity Scholarship Fund Auburn University Montgomery Barfield, Murphy, Shank & Smith, LLC Bedford Cost Segregation Bloomberg BNA CCH Incorporated (Wolters Kluwer) CSSI Cost Segregation Services, Inc. Daniel Corporation DLD Business Solutions

GilsbarPro Greater Birmingham CVB Hartmann, Blackmon & Kilgore, PC

ITAC Solutions Jackson Thornton Technologies Jackson Thornton, PC Maynard, Cooper & Gale, PC Merrill Lynch Wealth Management Rabren, Odom, Peirce & Hayes, PC Southeastern Financial Group/Guardian Southeastern Financial Group/Rochdale Watkins Johnsey Professional Group Thomson Reuters

Thank you for another great CPE season! All 2015/16 transcripts will be sent out via email or mail by32October 10. See you in 2017!

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.

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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.

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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)

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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.

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2/23/15

CLASSIFIEDS

SELLING IN 2016?

YOUR PRACTICE WANTED:

Considering selling your CPA firm this year?

Knowing what your firm is worth is the first step.

Contact us TODAY to receive a free no-obligation market analysis of your firm. Accounting Biz Brokers has been offering personalized business brokerage services to CPAs for over 12 years and we know your market. Our process is strictly confidential. Visit our website at www.AccountingBizBrokers.com to request additional information about the sales process. New Listing: NE MS Tax & Bookkeeping Firm Gross $850k

We are North America’s leader in practice sales. If you are thinking about selling, contact us today for a confidential discussion.

PRACTICES FOR SALE: • Northeast AL CPA practice grossing $525K *New* • Huntsville CPA practice grossing $315K *New* • Baldwin County, AL practice grossing $205K *New* • Mississippi Gulf Coast CPA grossing $95K *New* • Eastern Memphis suburb CPA grossing $175K *New* • Mobile CPA grossing $175K *Sold*

Kathy Brents, CPA, CBI Cell 501.514.4928 Office 866.260.2793 Email: Kathy@AccountingBizBrokers.com

For more info on any of these listings or to sell your practice, contact Lori Newcomer, CPA at 888-277-6040 or LNewcomer@APSLeader.com.

Gadsden public accounting firm seeks an

FRANCHISE LAW

AUDIT MANAGER OR SENIOR MANAGER with a minimum of 5 years’ experience.

Competitive pay and benefits.

Yellow Book not required.

Send resume to roger@wbp-cpa.com.

34

?

Quessons to Ask Yourself

?

?

Was the INVENTORY Year-End Count a difficult process this year?

?

Are you MANUALLY entering a lot of data every day?

?

Would you like to monitor and control LABOR costs?

?

?

Has Management asked for Operational and Financial DASHBOARDS in real time?

Do you have approvals in place that you can monitor through WORKFLOWS? SELLING IN 2016?

?

?

Considering selling your CPA firm this year? Knowing what your firm is worth is the first step. Contact us TODAY to receive a free no-obligation market analysis of your firm. Accounting Biz Brokers has been offering personalized business brokerage services to CPAs for over 12 years and we know your market. Our process is strictly confidential. Visit our website at www.

AccountingBizBrokers.com to request additional information about the sales process. New Listing: NE MS Tax & Bookkeeping Firm Gross $850k

?

Let the team of DLD Business Soluuons and Microsoo Dynamics GP assist you in meeeng your business objeccves this year.

Kathy Brents, CPA, CBI Cell 501.514.4928 Office 866.260.2793 Email: Kathy@AccountingBizBrokers.com

HOSPITALITY AND RESTAURANTS PROFESSIONAL SERVICES HEALTHCARE DISTRIBUTION PAYROLL

205-533-9458 | www.dldbsi.com | 300 Cahaba Park Circle, Suite 110, Birmingham, AL 35242

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