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Chief CPA concern still talent

CPA firms are doubling down on one of their most important assets: staff. The 2015 Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey, from the American Institute of CPAs (AICPA), found that staffing is a significant challenge for firms — thanks to a steady demand for CPA services, workload compression issues and retiring Baby Boomers. Conducted every two years, the PCPS Top Issues Survey spotlights the main challenges facing practitioners. Key findings from the 2015 survey are:

RECRUITMENT & RETENTION: Staffing was always an issue in surveys prior to 2009, but after the 2008 economic recession, firms were more concerned with client retention. Now, staffing is once again top-of-mind for firms. Practice growth is still cited as an important issue, however, by both sole practitioners and firms with 11 or more professionals.

SUCCESSION PLANNING: Firms of all sizes, even sole practitioners, are concerned about succession planning. Larger firms are starting to transition to a new group of leaders, while smaller firms must find and groom staff members with leadership potential. Sole proprietors will focus on practice continuation agreements.

SEASONALITY: Firms of all sizes are grappling with seasonality and workload compression, perhaps because of challenges with frequent and/or late tax law changes and the late arrival of K-1s and Form 1099s. Service problems at the U.S. Internal Revenue Service have exacerbated the situation, and survey findings indicate that workload compression is a year-round challenge.

TOP FIVE ISSUES FOR…

Sole practitioners

1. Keeping up with changes and complexity of tax laws 2. Seasonality/workload compression 3. The effect on firms caused by new federal and state regulations 4. Succession planning 5. Bringing in new clients Firms with 21 or more professionals

1. Retaining qualified staff 2. Finding qualified staff 3. Owner/partner accountability/unity 4. Seasonality/workload compression 5. Tie: Bringing in new clients and succession planning

Check out the full report, including the top issues for more firm sizes, at tinyurl.com/Top-Issues-2015. n

Governor makes new VBOA appointments

In July, Virginia Gov. Terry McAuliffe appointed VSCPA members BRIAN CARSON, CPA, and SUSAN FERGUSON, CPA , to fill the vacant positions on the Virginia Board of Accountancy (VBOA).

Carson is CFO at GoldKey/PHR Hotels & Resorts in Virginia Beach and a former partner with Dixon Hughes Goodman. Ferguson, an accounting professor at James Madison University in Harrisonburg, fills the educator seat on the VBOA. They replace fellow VSCPA members BARCLAY BRADSHAW, CPA, the outgoing VBOA chair, and BOB COCHRAN, CPA, who held the educator seat. VSCPA member STEPHANIE SAUNDERS, CPA, is the new chair.

Read an in-depth profile of the two newest VBOA members at vscpa.com/VBOAAppointments. n

CHECK OUT THE NEW, REVAMPED STATE OF THE VSCPA

The “State of the VSCPA” annual report is now online and better than ever! We’ve combined the State of the VSCPA report with the VSCPA Educational Foundation and advocacy reports into one comprehensive document. There’s never been an easier way to learn the what, how, who and why of VSCPA activities.

Visit www.vscpa.com/ StateoftheVSCPA to get the scoop on the VSCPA’s 2014–2015 efforts and the Society’s audited financial statements. n

EXCELLENT EXCEL >>

Create an ‘Index’ tab

Have you ever been given a large

workbook with 60 tabs to review and you don’t know where to start or how to easily navigate it? If only Excel had an “Index” tab that had a hyperlink to each tab and each tab had a hyperlink* back to the “Index” without a lot of manual effort. No fear, I was able to find the coding below from tinyurl.com/o4facs4, which you can insert into your workbook that will magically make it happen.

To complete the process, create a new tab and rename it “Index.” Next, right-click on the tab’s new name, select “View Code” and then copy the code below into the large box. Then click on the Run button (which looks like a green play button). After it creates your index, you can exit the code window. Hopefully with this tip you will be able to quickly get your bearings and navigate that massive workbook like a pro.

Private Sub Worksheet_Activate() Dim wSheet As Worksheet Dim M As Long M = 1 With Me .Columns(1).ClearContents .Cells(1, 1) = "INDEX" .Cells(1, 1).Name = "Index" End With

For Each wSheet In Worksheets If wSheet.Name <> Me.Name Then M = M + 1 With wSheet .Range("H1").Name = "Start" & wSheet.Index .Hyperlinks.Add Anchor:=.Range("H1"), Address:="", SubAddress:="Index", TextToDisplay:="Back to Index" End With Me.Hyperlinks.Add Anchor:=Me.Cells(M, 1), Address:="", SubAddress:="Start" & wSheet.Index, TextToDisplay:=wSheet.Name End If Next wSheet End Sub

*Warning: The code above will overwrite cell H1 in each of your tabs with a hyperlink “Back to Index.” n

GEORGE D. STRUDGEON, CPA, CGFM, is an audit director at the Virginia Auditor of Public Accounts in Richmond. Email him if you have Excel topics you want him to cover. * george.strudgeon@gmail.com connect.vscpa.com/GeorgeStrudgeon

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VIDEO EXPLAINS VBOA ACTIVE — CPE EXEMPT STATUS

Click and learn: To watch this video, visit this page in the digital Disclosures issue at disclosures.vscpa.com and click on the play button. Or, check it out at tinyurl.com/q7yteg4.

If you’ve got questions about what it means to have an active CPA license in Virginia, but exempt from CPE, all you have to do is visit YouTube.

The Virginia Board of Accountancy (VBOA) has a short, easy-to-follow video available on its website (boa.virginia.gov) and YouTube (search for the Virginia Board of Accountancy channel). The VBOA plans to produce more videos this year explaining other hot-button CPA licensing issues. n

MORE LETTERS ARE COMING: Next year, the American Institute of CPAs (AICPA) will launch two new specialty credentials for CPAs in the area of fair value measurement: one covering fair value measurement for business and intangible assets and the other for financial instruments. The credentials will join the AICPA’s list of specialties: Accredited in Business Valuation (ABV), Certified in Financial Forensics (CFF), Certified Information Technology Professional (CITP), Chartered Global Management Accountant (CGMA) and Personal Financial Specialist (PFS). n