January/February 2012 - Florida CPA Today | Volume 28, Number 1

2

|

FLORIDA CPA TODAY

|

January/February 2012

www.ficpa.org

contents Volume 28, Number 1

CEO-EXECUTIVE DIRECTOR Deborah L. Curry SR. DIRECTOR OF MARKETING & COMMUNICATIONS Jan Dobson, CAE EDITOR Suellen D. Wilkins GRAPHIC DESIGNER Loleta K. Bolden PUBLICATIONS COORDINATOR Dianne Dearduff EDITORIAL COMMITTEE Douglas Day, CPA, chair Walter C. Copeland, CPA, vice chair Lynda M. Dennis, CPA • David Hochsprung, CPA Michael Kridel, CPA • Troy Y. Manning, CPA Pat Murphy, CPA • Laura Prevratil, CPA William C. Quilliam, CPA, Ph. D. All articles submitted to Florida CPA Today are subject to technical review, Editorial Committee review, space availability and editing requirements and restrictions. Please contact the editor before submitting unsolicited manuscripts.

Florida CPA Today publishes letters to the editor in its Members’ Forum. For information about the guidelines, visit www.ficpa.org/Content/Members/Tools/Publications/FCT/ LettersToEditor.aspx.

Statements expressed herein are those of the identified authors and not necessarily those of the Florida Institute of Certified Public Accountants, Inc., nor should statements be considered endorsements of products, procedures or otherwise.

The FICPA reserves the right to reject any editorial material or paid advertising that does not meet Florida CPA Today’s qualifications or detracts from its ethical and professional standards.

Florida CPA Today is published bimonthly by the Florida Institute of Certified Public Accountants, Inc., P.O. Box 5437, Tallahassee, FL 32314. Telephone: (850) 224-2727 or (800) 342-3197. (Street address: 325 West College Ave., Tallahassee, FL 32301.) Visit our website at www.ficpa.org.

This magazine is provided to members of the FICPA. No specific amount of your dues, either expressed or implied, is for this publication. This magazine is not available for purchase by either FICPA members or nonmembers.

For display advertising information, contact the FICPA Marketing Department at (850) 224-2727. © 2012 by the Florida Institute of Certified Public Accountants, Inc. All rights reserved. Reproduction in whole or part is prohibited without the express written consent of the FICPA.

www.ficpa.org

January/February 2012

6 10 12 DEPARTMENTS 16 DOR update 18 Educational foundation 20 News briefs 22 Student outreach 24 Governmental affairs 28 New members 29 Web Digest

The best accounting and finance departments Top 10 attributes 31 FICPA NewsFlash digest 32 Marketplace 34 On the move

PRESIDENT’S MESSAGE 5 Resolve to be involved

COVER STORY 6 CyberWise Guarding against tax-ID theft

FEATURES 8 The “Supercommittee”

failure, and a way forward

10 S corporations update 12 YCPAs hike the hill 14 Robert Half releases latest

accounting & finance salary information

17 Take a sneak peek Florida CPA Today 2012 i FICPA 2012 Annual Convention

Mission Statement Florida CPA Today is an award-winning, professional publication for more than 18,500 members of the Florida Institute of CPAs. Our magazine: Allows members to share their professional expertise on technical issues Keeps members informed about FICPA events and advocacy Highlights the people and issues that affect Florida CPAs Recognizes the professional accomplishments of our members

FLORIDA CPA TODAY

|

January/February 2012

|

3

Access Florida CPA Today Archives Online For your convenience, Florida CPA Today articles from 1997-present are posted on the FICPA’s website at www. ficpa.org/ficpa/Members/Tools/Publications/FCT/Archives.

The archives provide a variety of previously published information, including technical articles written by member CPAs, legislative updates, DOR and IRS updates and much more.

4

|

FLORIDA CPA TODAY

|

January/February 2012

ADVERTISERS’ INDEX: Accounting Practice Sales....................23 ADP...........................................................27 Blue Ray Engineering ............................29 CPS Investment Advisors (CPAlliance™)........................................19 IDEA® - Data Analysis Software .......13 Nova Southeastern University............31 Soreide Law Group...............................33 Space Coast Credit Union.....................9 PNC..........................................................30 Trugman Valuation Associates, Inc.........4

Connect with your Florida accounting professional targets with magazine display advertising.

Florida CPA Today, the FICPA’s four-color magazine, is distributed bi-monthly to more than 18,500 members.

Frequency discounts are available when you advertise three or more times per year. For more information, contact FICPA Corporate Sales Manager Drew Miller at (800) 342-3197 (in Florida); (850) 224-2727, Ext. 270; or millerd@ficpa.org.

www.ficpa.org

President’s message

g

Resolve to be involved

Gratitude, anticipation and a cold nose are on my mind as I wish you and your families, clients and customers a very prosperous 2012.

During the past six months of chapter visits (15 and counting), it’s been refreshing to meet so many concerned professionals who are willing and able to give of themselves. I appreciate the warm welcome you’ve extended to Deborah Curry, John Johnson, Justin Thames and me. I am committed to spending the second half of my term energizing our membership, raising money for our PACs and discussing our always-evolving profession.

Your Executive Committee has been on the road, too, gaining valuable ideas while visiting practice units, educators and members in industry throughout Florida. Your Board of Governors (BOG) and staff are putting many of your ideas in to action (as an example, see David Walker’s commentary on page 8).

At the University of Florida Accounting Conference in November, I was thrilled to reconnect with Dr. Irvin Gleim, president of Gleim Publications and my intermediate accounting professor some 32 years ago. Dr. Gleim made a lasting impression on me and helped shape my love of accounting. During the years, I’ve come to appreciate the wisdom of my favorite “Gleimism:” “Don’t tell me what you know. Tell me what you don’t know!” Thank you, Dr. Gleim. I am grateful for your contributions, personally and on behalf of the profession.

In December, it was a great honor to host Gov. Rick Scott at our BOG meeting in Tallahassee (see page 25). I applaud Gov. Scott for his recent reappointments of Cynthia Borders-Byrd and Maria Caldwell to the Board of Accountancy, along with new members David Dennis, Martin “Bud” Fennema and Steven Vogel. Our profession is in good hands – these people exemplify the professional excellence that is necessary to regulate and oversee the CPA credential in Florida.

The Florida Legislature convened Jan. 10, and I’m pumped. This is my first session as a Tallahassee resident. It’s a bit of a thrill to live and work just down the street from the Capitol.

During Session, the FICPA may call on its Key Person Contacts (KPCs) to help us advocate on behalf of the profession. I hope you’ll reply with an enthusiastic “Yes!” if we ask for your help. For information about the 2012 Session, see page 24.

This message wouldn’t be complete without a mention of resolutions for 2012. I resolve to visit as many chapters as I possibly can before June 30, and to lead your BOG through its continuing review of governance structure, bylaws and policies. I ask that you resolve to: • Research the Chartered Global Management Accountant (CGMA) to determine if this new credential offers competencies of value to your career and business • If you aren’t a local-chapter meeting regular, go back and try again. Really dedicated, involved and up to date colleagues, who are speaking to issues, await you. What can you contribute? What can you gain?

• If you have contacts in the Florida Legislature, register as a Key Person Contact (KPC) and resolve to be part of the FICPA’s strong voice on issues that are critical to our profession • Make a contribution to the Florida CPA/PAC • Build better bridges, personally and professionally, with more face-time. Personal connections build trust, minimize misunderstandings and move things forward in ways that email, instant messaging and the like can’t.

And about that cold nose…it’s true that in this dead of winter, albeit a Florida winter, Tallahassee gets a heck of a lot colder than my native Central Florida. I’ve stocked up on sweaters (even a couple that aren’t black) and am ready to tackle whatever the weather and my travels bring.

I hope you’ll join me for the ride.

Stam Stathis, CPA www.ficpa.org

FLORIDA CPA TODAY

|

January/February 2012

|

5

Here are some important security reminders for your clients.

Report suspected identity theft • Call the police and file a police report • Call the IRS Identity Theft Unit – (800) 9084490 • Call the Federal Trade Commission Identity Theft Hotline at (877) 438-4338, or report the incident on their website at www. consumer.gov/idtheft.

• Contact the identity-theft departments of the three major credit bureaus:

Equifax – (800) 525-6285

Experian – (800) 397-3742

Trans Union – (800) 680-7289 • Contact the Social Security Administration – (800) 722-1213

Minimize your chances of becoming a victim • Don’t carry your Social Security card or any document(s) that contain your SSN. • Give your SSN only when absolutely necessary.

• Protect your financial information.

• Check your credit report every 12 months.

• Secure personal information in your home.

• Protect personal computers by using firewalls and anti-spam/virus software, updating security patches, and using different passwords for Internet accounts.

• Don’t give personal information over the telephone, through the mail or on the Internet unless you have initiated the contact or are sure you know who you are dealing with.

Remember, the IRS does not initiate contact with taxpayers by e-mail and does not request detailed personal information by e-mail.

6

|

FLORIDA CPA TODAY

|

January/February 2012

CyberWise Guarding against tax-ID theft

d

By Edward J. Quigley Jr., CPA and Ignacio J. Abella, CPA

During the past several years, the ever-increasing problem of identity theft has found its way into the tax-return system. Most practitioners are mandated to file electronically, and the IRS is pressured to process returns and issue tax refunds as quickly as possible. Consequently, it is extremely difficult – if not impossible – for the IRS to verify the accuracy of returns when they are initially filed.

Because we have a voluntary compliance tax system, the IRS processes most returns and issues refunds without an audit of any kind.

There is an initial screening process, but it cannot be counted on to catch fraud, including identity theft.

ID thieves have many faces Tax-identity theft can take several different forms. A thief may obtain employment using the name and social security number of an identity-theft victim, then claim excessive withholding allowances.

The thief then receives a net paycheck with only Social Security and Medicare taxes withheld.

At the end of the calendar year, the thief ’s W-2 is filed with the Social Security Administration and subsequently forwarded to the IRS. The IRS then attempts to match the fraudulent W-2 with the victim’s tax return. The IRS likely will issue a CP-2000 Notice to the identity-theft victim, asking about the missing wages and proposing a balance due. That’s when the fun begins. It can take a lot of time to demonstrate to the IRS that, although the W-2 has the victim’s name and Social Security number (SSN) – and might even include his or her correct address – it is not the victim’s income.

In another example of tax-identify theft, a thief obtains someone’s name and SSN, then files a return using the victim’s information. These filings generally claim a bogus W-2 with dependency exemptions for multiple children. So, the returns include an earned-income credit resulting in a large refund. When the victim taxpayer files his or her tax return, it may be rejected because a return already has been filed under that name and Social Security number. The IRS must determine which tax return is correct, and the burden of proof shifts to the victim taxpayer.

How do the thieves obtain names and SSNs to use on bogus returns?

Apparently, there are numerous ways.

An article in the Oct. 11, 2011 issue of the Tampa Tribune references a Social Security Death Index that is available online. Thieves can obtain the names and SSNs of deceased persons and file fraudulent returns >>> using their tax identity. www.ficpa.org

Identity thieves also can to hack into a database at a bank, hospital, medical office or other business or institution that collects SSNs. If a thief has help from an insider, obtaining the information is even easier.

An article in the Nov. 26, 2011 edition of the Miami Herald provided a reminder of another way thieves acquire identities.

In this case, a postal employee in North Miami was killed for his master key, which gave the thieves access to the mailboxes and personal financial information of dozens of residents of a North Miami-Dade condo building. The thieves used the information they obtained to file fraudulent tax returns using the identities they acquired.

Mitigate the risk How can we minimize the risk of identity theft for ourselves and our clients? The IRS provides some suggestions in Publication #4535 Identity Theft Prevention and Victim Assistance (Rev 2010) (see the sidebar on page 6). The most important is to protect your SSN. Don’t give it to businesses just because they ask for it.

Also, protect your financial information. Don’t give it out over the telephone or Internet unless you initiated the contact and know who you are dealing with.

Despite all reasonable precautions, it still is possible for taxpayers’ identities to be compromised. In most cases we have experienced, identity theft was discovered when an electronically filed return was rejected because one or more of the social security numbers were used on a previously filed return.

If you receive an IRS rejection code indicating a Social Security Number was used on a previous return, or if you suspect for another reason that a client’s identity has been compromised, act as soon as possible (see the sidebar on page 6).

If the IRS rejects an electronically filed return, the taxpayer must file a paper return. Form 14039 Identity Theft Affidavit should be attached to the front of the return, along with proof of the taxpayer’s identity, such as a driver’s license or passport. Form 14039 is available on the IRS’ website at www.irs.gov/pub/irs-pdf/ f14039.pdf.

Also, because most preparers are required to file returns electronically, Form 8948 Preparer Explanation for Not Filing Electronically should be attached to the paper return. Check the box at item No. 4 and enter the reject code.

One of the IRs’ goals is to protect taxpayer privacy. When a taxpayer’s identity is compromised, obtaining information from the IRS is extremely difficult, even with a valid power of attorney.

Based on several articles that have appeared in the Tampa Tribune during the last several months, law enforcement officials, including the FBI have found the privacy issue frustrating. Legislation has been proposed to curb identity theft by enacting stiffer penalties and encouraging www.ficpa.org

the IRS and law enforcement agencies to share information and work together to capture identity thieves.

The FICPA Federal Tax Committee recently held its annual liaison meeting with select high-ranking IRS representatives.

Meeting participants spent a substantial amount of time discussing the identity-theft issue. The IRS agrees this is a major problem and is committed to doing everything in their power to control identity theft.

Edward J. Quigley Jr., CPA is a managing member in the firm Mortellaro & Quigley CPAs, LLC in Lutz. He has worked in public accounting since 1968. Before relocating to Florida, Quigley was the tax partner of a CPA firm with offices in Pennsylvania and Florida.

Ignacio J. Abella is a partner with Abella Garcia Güell & Co. CPAs in Miami. He is a member of the AICPA and the Cuban-American CPAs Association, and he serves on the FICPA Federal Tax Committee.

Abella is a past president of the University of Florida Association of Hispanic Alumni and has served on the United Way of Miami-Dade County Finance Administration & Agency Audit committees.

FLORIDA CPA TODAY

|

January/February 2012

|

7

The “Supercommittee” failure, and a way forward

By David M. Walker

t

The FICPA has received member requests for an accounting perspective on the national debt, and what has been and should be done to resolve the issue. Florida CPA Today generally does not publish opinion/editorial articles. However, David Walker is highly qualified to speak to this topic, and we believe it is important to keep our members informed about such important financial issues. We are pleased and honored to have the opportunity to share Mr. Walker’s insight with FICPA members.

David M. Walker Founder & CEO The Comeback America Initiative

Total federal debt now is more than $15 trillion and is more than 100 percent of GDP for only the second time in U.S. history. In addition, the fiscal 2012 deficit is likely to exceed $1 trillion for the third year in a row. And yet, Washington policymakers still are asleep at the wheel as the ship of state heads for an iceberg composed, in large part, of more than $40 trillion in unfunded Medicare and Social Security obligations that are growing by about $2 trillion each year.

In one of the greatest political failures in modern history, the Joint Select Committee on Deficit Reduction – the so-called “Supercommittee” that was set up as part of the debt-ceiling increase bill in August 2011 – admitted failure on Nov. 21, 2011. After three months of meetings and discussions, it was unable to make a single recommendation to reduce the deficit over the next 10 years.

The special committee’s total failure serves to underscore just how broken Washington has become. The combination of partisan politics, ideological divides and special interests resulted in paralysis, rather than in progress, once again. The real question is where do we go from here, and what does it mean for America and Americans?

Given the Supercommittee’s failure, $1.2 trillion in spending reductions over 10 years, split equally between defense and other spending, are scheduled to begin in calendar year 2013. Some members of the Senate and House have vowed to repeal all or part of the defense reductions, but President Obama already has threatened to veto any attempt to undercut the $1.2 trillion failsafe mechanism.

Therefore, any related changes must meet with the President’s favor. This is likely to result in some bargain, during the “lame duck” session after the November 2012 elections, which addresses the expiring Bush/Obama tax provisions and how to handle the automatic cuts.

In any event, comprehensive social insurance (e.g., Social Security and Medicare) and tax reform, although sorely needed, is not likely to occur before calendar year 2013. Any significant progress on >>>

8

|

FLORIDA CPA TODAY

|

January/February 2012

As the founder, president and CEO of the Comeback America Initiative (CAI), David Walker leads CAI’s efforts to promote fiscal responsibility and sustainability.

Walker served as the seventh Comptroller General of the United States and as head of the U.S. Government Accountability Office (GAO) from 1998 to 2008. He has more than 20 years of private-sector experience, including 10 years as a partner and global managing director of human capital services for Arthur Andersen LLP. Walker is chairman of the United Nations Independent Audit Advisory Committee; a board member for the Committee for a Responsible Federal Budget; and a member of the advisory committees for The Public Company Accounting Oversight Board and the Peter G. Peterson Foundation. He also is a member of the Accounting Hall of Fame; the National Academy of Public Administration; the National Academy of Social Insurance; and the Trilateral Commission.

Walker has authored three books, including national bestseller Comeback America: Turning the Country Around and Restoring Fiscal Responsibility (2010). He is a frequent media commentator and is a subject of the critically acclaimed documentary I.O.U.S.A. www.ficpa.org

our housing, unemployment and infrastructure challenges also is likely to be delayed because of the “Supercommittee’s” failure.

When you examine past trends, the current financial condition of the United States, and future fiscal projections, it seems clear that the federal government has grown too big, promised too much and waited too long to restructure. The same can be said for many state and local governments – and, as we all know, bad news flows downhill. As a result, the federal government eventually will have to re-impose tougher budget controls than those that existed in the 1990s through 2002. These spending and other constraints at the federal level will complicate fiscal challenges at the state and local level.

Federal policymakers also will need to reform social-insurance programs and transform our national security system to reduce spending, while engaging in comprehensive tax reform that will result in increased total revenues above historical levels. Many social-insurance program reforms likely will be phased in over time (e.g., Social Security retirement-eligibility ages, Medicarepremium subsidy changes), while most tax reforms and defense transformational changes will be implemented much more quickly after eventual agreement.

It is critically important that the federal government make real and credible progress in these areas before the end of calendar year 2013, to help ensure that a sovereign debt crisis will not occur in the U.S. After all, according to the Comeback America Initiative’s (CAI’s) Sovereign Fiscal Responsibility Index, the U.S. ranks behind Mexico, Spain and Italy in fiscal sustainability.

“After all, it’s not a matter of whether these reforms will occur – it’s a matter of when, in what form, how quickly and under what circumstances.”

Although the U.S. currently is a temporary safe haven from the instability in Europe, the U.S. is not exempt from the laws of prudent finance. It will need to engage in comprehensive fiscal reforms, and hopefully will do so before interest rates rise dramatically and the markets force action.

When the reforms eventually are implemented, they likely will result in less spending than projected and higher overall levels of taxation than historically has been the case. From an individual’s perspective, the younger you are and the better off you are financially, the more you are likely to be affected by the coming changes.

Americans should adjust their financial planning, savings and investment strategies to consider the risks and implications of the government’s eventual restructuring. Simply stated, most Americans will need to plan earlier, save more, invest wisely and preserve their savings if they want to retire in their 60s and have economic security throughout their retirement years. After all, it’s not a matter of whether these reforms will occur – it’s a matter of when, in what form, how quickly and under what circumstances.

For more information about the nature and scope of our federal fiscal challenge and the types of social insurance, health care, defense, tax and other reforms that likely will be considered, visit CAI’s website at www.tcaii.org, or our Facebook page at ComebackAmerica. When you see the facts for yourself, be sure to take steps to pressure your elected officials for necessary reforms, and to prepare your family for the future. www.ficpa.org

FLORIDA CPA TODAY

|

January/February 2012

|

9

t

S corporations update

By Sydney S. Traum, BBA, JD, LLM (Tax), CPA

This article is adapted from material written by the author for Aspen Publishers Inc. quarterly updated loose leaf tax service, “The S Corporation: Planning & Operation.� All rights reserved by author.

INADVERTENT TERMINATION Recent private letter rulings Section 1362(f ) permits the IRS to ignore a terminating event if certain conditions are met. The IRS must agree that the termination was inadvertent; steps must be taken to correct the situation within a reasonable time after discovering the terminating event; and the corporation and all shareholders must agree to make corrective adjustments required by IRS consistent with treatment of the corporation as an S corporation. The IRS has been very reasonable when issuing private letter rulings concerning inadvertent termination status. The following are several of the recent letter rulings.

Ineligible shareholders In Letter Ruling 201046005, IRS granted inadvertent termination status when an S corporation inadvertently issued shares to an IRA, an ineligible shareholder. Upon discovery of the problem, the corporation took remedial action by redeeming all of the shares that it had transferred to the IRA. During the period from the inadvertent termination to the redemption of the IRA shares the S corporation reported a net loss. The ruling granted inadvertent termination status but required the IRA to be treated as the shareholder during the loss period.

Letter Ruling 201103015 involved a situation where a limited liability company (LLC) purchased all the shares of an S corporation. Upon discovery that the LLC was not a permitted shareholder, the LLC distributed all its S corporation shares to its members in proportion to their ownership interests. However, there were 15 trusts which were members of the LLC. The trusts could qualify as Electing Small Business Trusts (ESBTs) but they 10

|

FLORIDA CPA TODAY

|

had not made the required election. The corporation represented that there was no intention to terminate the S corporation status and that the transfer of stock to the LLC was inadvertent and not motivated by tax avoidance or retroactive tax planning. Based on the facts submitted and representations made, IRS concluded that the election terminated when the LLC acquired the stock but this termination was inadvertent. In addition, to the extent the S corporation status would have terminated when the LLC distributed the corporation stock to the trusts, that also was considered inadvertent. Favorable inadvertent termination status was granted provided the trusts file ESBT elections to be effective retroactively within 120 days of the date of the letter and that all parties reported the S corporation income as if the S corporation status was not terminated.

Letter Ruling 201113017 involved an S corporation where some of its shares were transferred to a trust. The trust beneficiary did not file an election to treat the trust as a qualified Subchapter S Trust (QSST); nor did the Trustee file an election to treat the trust as an Electing Small Business Trust (ESBT) thus causing inadvertent termination of S corporation status. The advisor to the trust discovered the error and the S corporation shares owned by the trust were transferred to its beneficiary, an eligible shareholder.

IRS concluded that the termination was inadvertent and the S corporation status could continue.

The ruling did not state whether the trust would be required to make any election. Presumably, the beneficiary would be treated as the shareholder during the period that the trust owned the stock.

made, IRS concluded that the company established reasonable cause for failing to make a timely S corporation election.

Further, IRS ruled that if the corporation files a completed Form 2553 effective on the date that they intended it to be effective and within 120 days

Failure to file the form 2553 Letter Ruling 201110008 involved a situation where the corporation did not file an S corporation election at all. The facts indicate that the company intended to file the Form 2553 but due to inadvertence, the election was never filed. Based on the facts submitted and representations

January/February 2012

www.ficpa.org

following the date of the ruling, the election would be treated as timely made.

Excess passive investment income Letter Ruling 201110001 involved a situation where an S corporation had passive investment income exceeding 25 percent of its gross receipts for more than three years and it had C corporation accumulated earnings and profits for all of those years. As a result, its election terminated on the first day of the fourth year. The corporation represented that it had always intended to maintain

its S corporation status, that the termination was inadvertent, and that there was no retroactive tax planning or tax avoidance. In addition, the corporation represented that it incurred losses in all the years at issue. IRS ruled that the termination would be ignored provided that the corporation distributed all of its accumulated earnings and profits pro rata to its shareholders by a certain date and that the shareholders report their pro rata shares of this distribution as dividends on their federal tax returns.

Disproportionate distributions Letter Ruling 201102033 involved an S corporation that made disproportionate distributions to its shareholders in certain taxable years. The corporation represented that under its governing provisions, all shares possessed identical rights to distribution and liquidation proceeds.

The corporation further represented that neither it nor its shareholders knew that disproportionate distributions could terminate its S corporation status.

This information is an excerpt from a longer article. To read the entire article, visit www. ficpa.org/Content/Members/ Tools/Publications/FCT/ Technical.aspx.

Sydney S. Traum, BBA, JD, LLM, CPA practices law in Miami-Dade County, Florida. His professional association is “Of Counsel” to the law firm of Levey, Filler, Rodriguez, Kelso & Magilligan, LLP. He is author of The S Corporation: Planning & Operation and The S Corporation Answer Book, published

by Aspen Publishers Inc. He recently has authored articles in The Tax Adviser and the Journal of Accountancy.

A licensed CPA and attorney in New York and Florida, Traum is a past president of the American Association of Attorney-CPAs; the Dade County Chapter of the FICPA ; the Greater Miami Tax Institute; and Beth David Congregation in Miami. He is a past chair of The Florida Bar Committee on Relations with CPAs. He currently is the Board chairman of the Florida Association of Attorney-CPAs and treasurer of the Harvard Club of Miami. www.ficpa.org

Traum is a member of the American Association of Attorney-CPAs Executive Committee; the American Bar Association Tax Section’s S Corporations Committee; The Florida Bar Probate Rules Committee; the AICPA’s Tax Division S Corporation Technical Resource Panel; the FICPA’s Federal Taxation Committee; and the FICPA’s Miami-Dade County Chapter Board of Directors. He is also editor of the Baptist Health Foundation’s Professional Advisory Committee Newsletter.

Traum received his BBA from the Baruch School of the City College of New York; JD from Harvard Law School; and LLM (Taxation) from New York University Law School. He is Florida Bar Board Certified in Taxation and in Wills, Trusts and Estates.

Traum is rated AV (the highest rating possible) by the Martindale-Hubbell Law Directory.

Get free tax updates by podcast!

Each week, the Florida Institute of CPAs (FICPA) brings you a great member benefit – tax updates via podcast. You can “tune in” to www.ficpa.org/ Content/CPE/Podcasts.aspx for information about the latest federal tax laws. Lynn Nichols and Ed Zollars, veteran lecturers from Nichols Patrick CPE, created the podcasts specifically for CPAs. FICPA podcasts do not qualify for CPE credit. They are designed to give you the most relevant and current tax information, helping you provide your clients, firm or company with the best service possible.

FLORIDA CPA TODAY

2012

|

January/February 2012

|

11

YCPAs hike the hill

By Maclain Benton, CPA In 100 years of Florida CPA history, many political victories have given the CPA license the importance it carries today. Protecting our license’s value by encouraging political advocacy on the profession’s behalf has become part of the mission of the FICPA YCPAs Committee.

The FICPA has more than 1,880 young-CPA members (those who are 35 and younger), and the YCPAs Committee wants to inspire them to become activists for the profession. In an effort to better understand the legislative process, the YCPAs recently organized a Hike the Hill event.

The festivities began on the evening of Nov. 16 at the Hotel Duval’s trendy rooftop bar, Level 8, in Tallahassee. The group was honored with a visit from one of the youngest members of the Florida Legislature – Rep. J. W. Grant, R-Tampa. The next morning began with a debriefing by Justin Thames, FICPA governmental affairs manager.

Thames discussed the legislative process and gave an overview of the leaders the committee would meet with later that day.

After the morning meeting, the YCPAs “hiked the hill” from FICPA headquarters on College Avenue up to the Florida Capitol.

The committee met with FICPA lobbyist

Jennifer Green of Liberty Partners, LLC to discuss issues affecting the CPA profession during the 2011-12 Legislative Session.

The committee spent the rest of the morning visiting various legislators, including Senate Majority Leader Andy Gardiner, R-Orlando; Senate Minority Whip Bill Montford, D-Tallahassee; and House Majority Leader Carlos LopezCantera, R-Miami. Discussions focused on the effect that state-established legislative and regulatory environments have on the CPA profession, and on CPAs’ ability to provide Florida citizens with sound publicaccounting services. >>>

YCPAs Committee members visit the Florida Capitol in Tallahassee.

12

|

FLORIDA CPA TODAY

|

January/February 2012

www.ficpa.org

YCPAs Committee members meet with Florida Agriculture Commissioner Adam Putnam in front of the Florida Historic Capitol in Tallahassee.

The morning concluded with lunch at the Governor’s Club and a visit from Rep. Jimmy Patronis, R-Panama City. Patronis explained how his CPA experience aided in his success in the political and business arenas. After lunch, FICPA Director of Governmental Affairs John Johnson educated committee members about the history of the CPA profession in Florida, highlighting key political advancements.

This inaugural visit to the Florida Capitol was an eye-opening experience for YCPAs Committee members. Hopefully, it will be the beginning of a longstanding tradition that enables young CPAs to learn more about professional advocacy.

The YCPA Committee greatly appreciates the time FICPA staff spent to organize the event. We look forward to continued legislative advocacy on behalf of the CPA profession.

Maclain Benton received her undergraduate degree in accounting at Florida State University and began her career in public accounting at KPMG. She currently is the accounting manager for University Housing at Florida State University. Benton is chair of the YCPAs Committee and also serves on the FICPA Nominations Committee. www.ficpa.org

FLORIDA CPA TODAY

|

January/February 2012

|

13

Robert Half releases latest accounting From FICPA Communications Staff Reports Corporate Accounting Chief Financial Officer a Company Sales in Millions $100-250K $ 50-100K

2011 2012

% change

Fort Myers 2012

$129,500 - $182,250 $107,500 - $148,250

Controller a Company Sales in Millions $100-250K $ 50-100K

Jacksonville 2012

$132,750 - $190,500 $110,000 - $154,500

3.7% 3.4%

$114,165 - $163,830 $94,600 - $132,870

$123,458 - $177,165 $102,300 - $143,685

$94,250 - $124,750 $77,750 - $105,750

$97,500 - $129,250 $80,000 - $110,250

3.5% 3.7%

$83,850 - $111,155 $68,800 - $94,815

$90,675 - $120,203 $74,400 - $102,533

2011

2012

% change

Public Accounting Tax Services - Mid-size Firmsd,e Senior Manager/Director a Manager a Senior

$96,500 - $143,000 $80,000 - $104,000 $63,000 - $82,250

$99,000 - $149,000 $82,500 - $108,250 $65,000 - $85,500

3.5% 3.7% 3.6%

$85,140 - $128,140 $70,950 - $93,095 $55,900 - $73,530

$92,070 - $138,570 $76,725 - $100,673 $60,450 - $79,515

Audit/Assurance Services Mid-size Firmsd,e Senior Manager/Director a Manager a Senior

$96,000 - $141,500 $79,500 - $102,500 $62,000 - $81,750

$98,500 - $147,000 $81,750 - $106,500 $64,250 - $84,500

3.4% 3.4% 3.5%

$84,710 - $126,420 $70,305 - $91,590 $55,255 - $72,670

$91,605 - $136,710 $76,028 - $99,045 $59,753 - $78,585

r

Robert Half International recently published its 2012 Accounting & Finance Salary Guide, which features starting-salary ranges for almost 300 positions in the accounting, finance, banking and financial-services fields.

“Despite a relatively high unemployment rate, there are many hardto-fill positions, and companies are raising starting salaries to attract in-demand professionals,” said Ryan Skubis, Robert Half ’s district director for Florida. “Among the positions for which starting salaries have risen, many involve increasing efficiency, mitigating risks and improving profitability.

“Companies are willing to invest in specialized professionals who can help them grow and maximize new technology,” Skubis said.

According to Robert Half, the certified public accountant (CPA) designation remains the most requested accreditation. In-demand positions include controller; financial analyst; business-systems analyst; internal auditor; accountant; tax accountant; cost accountant; auditor; and accounting operations.

Robert Half ’s 2012 Salary Guide includes local variances for many U.S. cities. Readers can use the variance numbers to calculate local salary ranges based on national ranges.

Above are national salary averages for eight positions in corporate and public accounting, along with local-variance calculations for eight major Florida cities.

To access Robert Half ’s Salary Calculator, or to order or download a free copy of the 2012 Accounting & Finance Salary Guide, visit www.roberthalffinance.com/salarycenter.

14

|

FLORIDA CPA TODAY

|

January/February 2012

www.ficpa.org

& finance salary information Miami/Ft. Lauderdale 2012

Melbourne 2012

Orlando 2012

St. Petersburg 2012

$141,644 - $203,264 $123,458 - $177,165 $117,370 - $164,852 $102,300 - $143,685

$130,759 - $187,643 $124,785 - $179,070 $127,440 - $182,880 $108,350 - $152,183 $103,400 - $145,230 $105,600 - $148,320

$104,033 - $137,910 $85,360 - $117,637

$96,038 - $127,311 $78,800 - $108,596

$90,675 - $120,203 $74,400 - $102,533

$91,650 - $121,495 $75,200 - $103,635

Bonuses and incentives reflect an increasingly large part of overall pay at this level and are not included in the salary ranges listed above. Advanced degrees or professional certifications also are assumed at this level. Unless otherwise noted (see footnote “a”), add up to 10 percent to graduate degrees or professional certifications. a

Tampa 2012

$93,600 - $124,080 $76,800 - $105,840

$25 million to $250 million in sales e Salary does not reflect overtime or bonuses, which are significant portions of compensation for these positions. Unless otherwise noted (see footnote “a”), add up to 10 percent to graduate degrees or professional certifications. d

$105,633 - $158,983 $88,028 - $115,503 $69,355 - $91,229

$92,070 - $138,570 $76,725 - $100,673 $60,450 - $79,515

$97,515 - $146,765 $81,263 - $106,626 $64,025 - $84,218

$93,060 - $140,060 $77,550 - $101,755 $61,100 - $80,370

$95,040 - $143,040 $79,200 - $103,920 $62,400 - $82,080

$105,100 - $156,849 $87,227 - $113,636 $68,555 - $90,162

$91,605 - $136,710 $76,028 - $99,045 $59,753 - $78,585

$97,023 - $144,795 $80,524 - $104,903 $63,286 - $83,233

$92,590 - $138,180 $76,845 - $100,110 $60,395 - $79,430

$94,560 - $141,120 $78,480 - $102,240 $61,680 - $81,120

Meeting your clients’ needs along with your own professional needs is a true balancing act.

Join today.

It’s free. It’s easy.

It just makes sense.

Visit www.ficpa.org/sections, or call (800) 342-3197 (in Florida) or (850) 224-2727, or e-mail sections@ficpa.org.

www.ficpa.org

FLORIDA CPA TODAY

|

January/February 2012

|

15

DOR update

r

Tax law roundup From Florida Department of Revenue staff reports

Recent, upcoming changes affect estate taxes Recent revisions to the federal estate tax require that practitioners be aware of certain dates and time periods for Florida estate-tax purposes.

For decedents who died before Jan. 1, 2005, a personal representative is required to file a Florida estate-tax return with the Department of Revenue (DOR) if the personal representative also is required to file IRS form 706 or 706-NA. The personal representative is required to pay the Florida estate tax as provided in Sections 198.02 and 198.03, Florida Statutes.

For decedents who died after Jan. 1, 2005, a personal representative is not required to file a Florida estate-tax return and no estate tax is due. This is in accordance with provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. These acts reduced the state death-tax credit provided in Internal Revenue Code (IRC) § 2011 to zero. So, the Florida estatetax rate for the same period also is zero.

A personal representative should file form DR-312 or DR-313 to clear title to real property for decedents who died after Jan. 1, 2005.

These federal acts will sunset Jan. 1, 2013. At that time, practitioners will need to know if a personal representative is required to file a Florida estate-tax return and pay tax for decedents who die after Dec. 31, 2012.

For more information, contact the DOR Office of the General Counsel at (850) 617-8347.

Get tax info on Twitter To get the latest tax information, access DOR’s new Twitter feed. Visit dor.myflorida.com/dor/ and click on the Twitter icon, or visit myflorida_taxinfo on your personal handheld device.

The feed has links to rule hearings; business-tax tips and publications; and new information on DOR’s website.

For more information call Renee Watters, DOR public information officer, at (850) 617-8214.

Do buyers pay tax on Groupon purchases?

What are the tax implications of Groupon purchases? When Groupon sells a cash equivalent, such as a gift card or gift certificate, the sale is not taxable.1 Tax is due on the full amount of the sale when the purchaser redeems the card or certificate for a taxable item or service. The selling dealer of the item or service should collect and remit the tax.

For example, Groupon sells an $80 restaurant gift certificate for $ 40. No tax is due on the $40 sale. The certificate is treated as $80 cash, and tax is due when the buyer redeems the certificate. So, when the restaurant charges the 16

|

FLORIDA CPA TODAY

|

January/February 2012

customer $80 for the meal, tax is due on the $80 ($4.80 plus any applicable local-option tax).

For more information, visit DOR’s Tax Law Library at dor.myflorida.com/dor/law. On the drop-down menu, select Sales and Use Tax. Then click on Florida Administrative Code and scroll down to Rule 12A1.089. Or, call the DOR Office of Technical Assistance and Dispute Resolution at (850) 617-8346.

1

Footnotes DOR Rule 12A-1.089, F.A.C. www.ficpa.org

Take a sneak peek

Florida CPA Today 2012

f

From FICPA communications staff reports

Florida CPA Today (FCT) is an awardwinning publication for the 18,000-plus members of the Florida Institute of CPAs. During the coming year, FCT will feature articles about the latest technical issues, as well as news about FICPA events and advocacy. Each issue will recognize FICPA members’ professional accomplishments and highlight topics that affect Florida CPAs. The FICPA Editorial Committee develops the annual FCT editorial calendar;

oversees publication policies; provides guidance to authors; and completes editorial reviews. The nine-member committee is made up of member CPAs with varying professional backgrounds that mirror the practice areas of the FICPA membership.

The best way to write or review articles for FCT is through an FICPA committee or section. Each year, the Editorial Committee works with other FICPA committees and sections to develop topic

ideas based on issues affecting Florida’s accounting profession. Committee and section members complete article-proposal forms and sign up to review articles during Committee Days in July.

After Committee Days, the Editorial Committee reviews all article proposals and finalizes the editorial calendar for the next year.

Lengthy articles are published in a special Web Digest format that is not subject to standard FCT word-count limitations.

For information about joining an FICPA committee or section, contact Mike Holland, FICPA Director of Chapter and Committee Relations, at (850) 224-2727, Ext. 500, or mholland@ficpa.org.

For information about proposing articles for publication, or to comment on the 2012 Editorial Calendar, contact Suellen Wilkins, FICPA editor, at (850) 224-2727, Ext. 383, or wilkinss@ficpa.org. >>> PAGE 19

Want to know more?

Learn how to join an FICPA committee or section; read the FCT writing guidelines and article-review process; and see the 2012 FCT Editorial Calendar. Visit these links on the FICPA website.

• http://www.ficpa.org/Content/Members/Communities/Committees.aspx • http://www.ficpa.org/Content/Members/Communities/Sections.aspx • http://www.ficpa.org/Content/Members/Tools/Publications/FCT/Guidlines.aspx • http://www.ficpa.org/Content/Members/Tools/Publications/FCT/Calendar.aspx

www.ficpa.org

FLORIDA CPA TODAY

|

January/February 2012

|

17

Join the Foundation in Key Biscayne

t

1040K Run/Walk gets new date, time and venue

By Jason Zaborske, FICPA educational foundation development manager and Brittany Butler, coordinator

The FICPA Educational Foundation and 1040K Run/Walk Board of Directors, along with FICPA CEO-Executive Director Deborah Curry, invite members to the Foundation’s 23rd Annual 1040K Run/ Walk. This year’s race will include a 5K run/walk. The event will take place at 7:45 a.m. on Saturday, April 21 – the Saturday after tax day – at Bill Baggs State Park in Key Biscayne.

Bill Baggs State Park is the home of a historic lighthouse – the oldest standing structure in Miami-Dade County. Visitors can sunbathe, swim and picnic on more than one mile of sandy Atlantic beachfront, currently ranked No. 10 on the list of Top 10 Beaches in America by Dr. Stephen Leatherman, aka Dr. Beach.

All registered 1040K runners and walkers will receive free admission to the park (normally $8 per car) for the entire day.

The park’s amenities, pavilions and parking will be complimentary for all 1040K participants.

More than 900 people participated in the 2011 1040K Run/Walk, and we expect more to attend this year’s event.

Many CPAs will continue the tradition of dressing in shirts, ties and running shorts, and we’ll offer free beer for attendees older than 21.

Continuing another tradition, the Foundation will present three $3,000 scholarships to African-American accountings students in South Florida.

The scholarships are awarded in memory

of Lewis Davis, Miami-Dade County’s first African-American CPA. Davis, a community leader, also was co-founder of the Greater Miami-South Florida Chapter of the National Association of Black Accountants.

The 1040K Run/Walk is a great way for families and co-workers to get together for fun and exercise while contributing to a worthwhile scholarship fund. We hope you’ll join us in Key Biscayne to benefit the future of the CPA profession and enjoy a beautiful day at the beach.

Don’t miss early-bird discounts! To register, visit www.1040K.org. For sponsorship opportunities, contact Foundation Development Director Jason Zaborske at (850) 251-7274 or edfound@ficpa.org.

2012 1040K Run/Walk Where: Bill Baggs State Park, Key Biscayne When: Saturday, April 21, 7:45 a.m.

Register: www.1040K.org

Photo provided by the Key Biscayne Chamber of Commerce

The lighthouse at Bill Baggs State Park is the oldest standing structure in Miami-Dade County.

18

|

FLORIDA CPA TODAY

|

January/February 2012

www.ficpa.org

www.ficpa.org

Special FICPA event supplement | i

Schedule of Events Wednesday, June 27, 2012 6:30-10:00 p.m.

Welcome Reception Clam Bake and Beach Bonfire

Thursday, June 28, 2012 8:30-11:20 a.m.

9:00-11:00 a.m.

CPE Session Accounting & Auditing Update (3 AA) Cecil “Pat” Patterson Jr. CPA, MBA

1:00 p.m.

Golf Tournament Ocean Edge Golf Course Ocean Edge Resort and Golf Club

2:30-6:30 p.m.

Whale Watcher Cruise

1:00-4:40 p.m.

CPE Session Compilation & Review (3 AA) Cecil “Pat” Patterson Jr. CPA, MBA

7:15-8:15 p.m.

Hospitality Hour

Spouse/Guest Event Historic Tour of Ocean Edge Resort

Friday, June 29, 2012 8:00-9:00 a.m.

FICPA Annual Meeting

8:30-11:20 a.m.

CPE Session Federal Tax Update (3 TB)

9:15 a.m.-Noon

FICPA Board of Governors Meeting

12:30-3:00 p.m.

Guided Bike Tour

1:00-5:00 p.m.

Deep Sea Fishing

1:00-4:40 p.m.

CPE Session TBD

6:30-9:00 p.m.

President’s Reception

Saturday, June 30, 2012 9:30-11:10 a.m.

CPE Session State of the Profession (2 TB) Gregory J. Anton, CPA AICPA, Chair

6:30-10:00 p.m.

Reception and Leadership Dinner

Sunday, July 1, 2012 Check-out and Departures *Schedule subject to change

ii

|

Special FICPA event supplement

Group Activities

Could there be any more welcoming setting than Brewster, Massachusetts, the warmer side of the Cape, to network, learn and grow? Ocean Edge Resort & Golf Club is the perfect venue for you and your colleagues to be productive and successful. To ensure fun and relaxation, don’t forget to take part in the luxury amenities of a first-class resort.

And what would a Cape Cod meeting be without a little golf?

Delight at being able to play on a private Nicklaus Design golf course. Non-golfers stay busy and happy with beaches, tennis, pools and fitness centers.

Also enjoy the freedom of a little down time. End the day with a glass of wine and watch the sunset on the Rooftop Terrace.

Luxuriate in your favorite spa treatment. Or indulge your mood with one of five distinctly different restaurants.

Thursday, June 28 Spouse/Guest Event Historic Tour of the Ocean Edge Resort and Golf Club

9:00-11:00 a.m.

No charge The Brewster Historical Society, established in 1964, collects and preserves the artifacts and history of Brewster to ensure their future accessibility. Join a society representative for a historic tour of Ocean Edge Resort and Golf Club ending at the mansion’s lush front lawn for croquet and refreshments.

Golf Tournament

1:00 p.m.

$135 (includes box lunch) This 18-hole Nicklaus Design golf course debuted in May 2008.

It was redesigned, remodeled and reshaped at all greens and holes, with the most significant changes being increased length, better playability and more challenges on the course. The greens on the par-72 course are now customized to USGA specifications, position the property as a premier golf destination, and offer a new golfing experience for all levels of play. The course is one of the region’s few private fairways, available for play exclusively

by Ocean Edge club members and resort guests. All rates include cart, yardage book, and range usage prior to play. Junior Golfer’s ages 9 and younger play free with playing adult.

Whale Watcher Cruise

2:30-6:30 p.m.

$75 Cape Cod Whale Watching has become the highlight of a visit to Massachusetts. Not only will there be an onboard naturalist to narrate your adventure, they also are available to answer any questions you might have. To enhance your experience we provide you with our “Explorer’s Journal.” The journal serves to document your adventure as well as to stimulate your imagination.

It doesn’t stop there; you can further test your knowledge by participating in a weekly crossword puzzle contest.

Friday, June 29

Special Events

Guided Bike Tour

12:30-3:00 p.m.

($65) A little exercise! A Lot of chocolate! Bike to Orleans!

Hop on the trail west toward Orleans. You’ll thrill at biking through a couple of short tunnels (yodeling required when zooming through). Along the way, you’ll see a sign for Cobies, about 2 miles from Ocean Edge, with a special bike trail entrance. You may want to stop right here for a picnic-style lobster roll, hot dog or ice cream. After a scenic wooded bit, you’ll pass Nickerson State Park and nearby salt water marshes (photo op!), finally ending in charming Orleans. As you reach Orleans Center, The Chocolate Sparrow appears on the right. After this almost 5-mile trip, you deserve a Hot Chocolate Sparrow espresso, homemade fudge, or ice cream. Poke around Orleans Center, and stop in the baseball store, CVS pharmacy (more sunscreen maybe?) and several cute shops.

Deep Sea Fishing

1:00-5:00 p.m.

($150) Welcome aboard the Aquarius for an exciting day of fishing that you will never forget! Fish the waters of Cape Cod, arguably the most trophy-rich fishing grounds on the East Coast. Relax in total comfort as you fish for trophy-sized Striped Bass, Bluefish, Giant Bluefin Tuna and Sharks. Aquarius is an ultramodern 35’ sport fisherman, custom designed & built specifically for the waters off Cape Cod. All tackle and gear will be provided for you. Please come prepared with the following: Sweatshirt/jacket, soft-soled shoes, sunscreen, hat, sunglasses.

FREEDOM TO DO IT ALL. OR NOTHING AT ALL. Endless Activities at this Cape Cod Resort Hotel Ocean Edge Resort & Golf Club offers families, couples and groups the quintessential Cape Cod resort vacation – with the freedom to explore, play golf and tennis, swim, bike. Or take luxuriously long naps by the pool.

If tennis is your game, Ocean Edge Resort & Golf Club offers 11 tennis courts – with golf and tennis sports programming, lessons and camps to accommodate adult and children of all levels.

Welcome Reception – Ocean Terrace Join us for an authentic clam bake and beach bonfire. The Ocean Terrace features an outdoor bar, and a breathtaking view of Cape Cod Bay and Provincetown. This is the perfect place to begin the party and wind down after a long day of travel as you reacquaint yourself with fellow convention attendees.

President’s Reception Join us for a culinary trip around the world and an evening of food, fun and fellowship hosted by our President.

Final Night Celebration Celebrate a changing of the guard with an elegant evening of fine dining and a show of appreciation to the outgoing president.

Children’s Events Ocean Edge Venture is our version of kids’ camp, designed for children ages 4 through 12 who want to experience what Ocean Edge Resort & Golf Club has to offer. A new theme each day guarantees fun for the kids and a little alone time for mom and dad.

Kids ages 4 through 9 experience a little bit of everything the resort has to offer. Explore and interact with other kids with games, crafts, swimming and more. Bring a bathing suit, towel, sun block and a hat to each session. Our half-day program runs from 9:00 a.m. to 1:30 p.m., and the full-day session runs from 9:00 a.m. to 4:00 p.m. Lunch is included. (Additional charges apply; pre-registration is required) Space is limited and 24-hour advance registration is required.

Parents or guardians are required to sign a waiver for each child each day they are registered.

In the evenings, take advantage of Kids Night Out (included in convention fee) giving you the opportunity to enjoy the evening events, knowing your children are having the time of their lives.

Kids Night Out is a night out for kids with the resort’s activities staff; kids meal included from 6:00-9:00 p.m.

Babysitting Services, with certified nannies, also available by advance reservation.

Nothing beats our on-property access to the historic 26-mile Cape Cod Bike & Rail Trail. Bikes, helmets, baby buggies and tandem attachments are available for rent right here at Ocean Edge.

Ocean Edge Resort & Golf Club features a cardio room, fitness center and a full line-up of exercise classes that include Beach Boot Camp, Yoga, spinning and Hip Hop for kids.

Splash around in our six pools, two of which are indoors. If you just want to get away from it all, take a day to discover our Brewster warm-water beaches or put on a wet suit and surf off the National Seashore.

Special FICPA event supplement | iii

Accommodations Ocean Edge Resort & Golf Club 2907 Main St. Brewster, MA 02631 (774) 323-6107

Registration

FICPA 2012 Annual Convention Name Firm

Experience the 2012 FICPA Convention in a surrounding that offers the quintessential Cape Cod experience.

Address

City/State/ZIP

Reservations must be made by May 29, 2012, to receive the group rate of $299 per night. All guestroom rates are subject to a resort fee of $10 per night. This fee is not a tip or gratuity; it covers services for transportation within the resort, parking, fitness center use, pools, local phone calls, in-room coffee makers and daily newspaper.

Reservation requests received after May 29 will be subject to availability at prevailing rates. To reserve your hotel room, call the Ocean Edge Resort & Golf Club at (800) 343-6074. Please reference the FICPA Annual Convention rate.

Telephone (

)

E-mail

Registration Fees Qty

FICPA Member . . . . . . . . . . . . . . . . . . . . . $395 Spouse/Guest/Teen . . . . . . . . . . . . . . . . . . $265 Child . . . . . . . . . . . . . . . . . . . . . . . . . . . $50

CPE Sessions (fee included in member registration) Thursday, June 28 8:30-11:20 a.m.

1:00-4:40 p.m.

Friday, June 29 m 8:30-11:20 a.m. m 1:00-4:40 p.m.

Saturday, June 30 m 9:30-11:10 a.m.

m m

A&A Update (3 AA) Compilation & Review (3 AA) Federal Tax Update (3 TB) TBA State of the Profession (2 TB)

Social Events (fee included in registration) Qty

Wednesday, June 27 Welcome Reception

Thursday, June 28 Hospitality Hour

Friday, June 29 President’s Reception Kid’s Night Out

Saturday, June 30 Reception and Leadership Dinner Kids Night Out

Optional Activities (additional fees apply)

Thursday, June 28 9:00 a.m.

Spouse Event . . . . . . . . . no charge 1:00 p.m.

Golf Tournament . . . . . . . . . $135 2:30 p.m.

Whale Watching Cruise . . . . . . $75

Friday, June 29 12:30 p.m.

1:00 p.m.

Qty

Guided Bike Tour . . . . . . . . . $65 Deep Sea Fishing . . . . . . . . . $150 TOTAL $

*Schedule subject to change

iv

|

Special FICPA event supplement

www.ficpa.org

(CONTINUED FROM PAGE 17)

Here are highlights of the FCT Editorial Calendar for the coming year.

March/April

Cover Story Succession Planning Technical Articles Strengthening the Risk-assessment Process Business Purchase Investigation/ Engagement Auditor Selection Identity Theft

May/June

Cover Story Legislative Session 2012 Technical Articles Tax Controversy in the Eyes of a CPA How to Manage an IRS Audit Major Changes Ahead for Audit Report The CPA’s Role in Divorce Court Communicating With Third Parties on Your Clients’ Behalf Taxpayer Advocates: What Can They Do for You?

July/August

Cover Story Meet New FICPA President Scott Price Technical Articles Changes to Group Audits

www.ficpa.org

September/October

Cover Story Technology to Protect You Technical Articles In-house vs. Outsourced IT Services When to Consider Managed IT Services

November/December

Cover Story Top 10 Resolutions for Your Firm in 2013 Technical Articles Best Practices for Budgeting, Planning and Forecasting Workflow Processes: What CPAs Want in 2013 Alternative Strategies for Debt Resolution *CIRAs – Collecting Assessments & Recording Transactions

FICPA thanks Editorial Committee The Institute thanks the 2011-2012 Editorial Committee for their service throughout the year. Committee members volunteer many hours to ensure that Florida CPA Today delivers timely, accurate information and is a valuable resource for FICPA members.

Douglas Day, CPA – chair Walter C. Copeland, CPA – vice chair Lynda M. Dennis, CPA David Hochsprung, CPA Michael Kridel, CPA Troy Y. Manning, CPA

*Scheduled for publication in the Web Digest section of Florida CPA Today.

The 2012 Editorial Calendar is subject to change. For more information, contact Florida CPA Today Editor Suellen Wilkins at (850) 224-2727, Ext. 383, or wilkinss@ficpa.org.

FLORIDA CPA TODAY

Pat Murphy, CPA Laura Prevratil, CPA William C. Quilliam, CPA

|

January/February 2012

|

19

News briefs From FICPA Staff Reports

FICPA sponsors CACPA Installation Gala

CACPA President Hector E. Aguililla, FICPA CEO-Executive Director Deborah Curry and FICPA President Stam Stathis (left to right) enjoy the Cuban American CPAs Association Installation Gala.

The FICPA was a presenting sponsor of the Cuban American CPAs Association’s 2011 Installation Gala. The event, held Oct. 21 in Miami, raised funds for deserving minority accounting students. The Association installed its 2011-2012 Board of Directors, which included FICPA member Hector Aguililla as Board president.

FICPA CEO-Executive Director Deborah Curry and President Stam Stathis attended the Gala.

“The FICPA is pleased to partner with our CPA colleagues of the Cuban American CPAs Association.” Curry said. “The Gala provides a wonderful opportunity to further our shared goal of supporting minority accounting students.”

The Cuban American CPAs Association is a nonprofit organization founded in 1980 to unite CPAs in common heritage and interest.

Orbach receives sustained contribution award

AICPA recognizes service and leadership

FICPA member Kenneth N. Orbach of Boca Raton was one of 51 CPAs who recently were selected to receive the AICPA’s inaugural Sustained Contribution Award. The award recognizes AICPA members who have contributed measurably to the AICPA and the CPA profession through their volunteer service.

All the recipients have served on an Institute volunteer group for 20 or more years, and have served at least once as chair of an AICPA committee, task force or resource panel.

“The AICPA congratulates all of the recipients of the Sustained Contribution award,” said Kathy Eddy, chair of the awards committee and former AICPA chair. “The work they’ve done in volunteer leadership roles at the AICPA will help strengthen the profession for many years to come.”

Kenneth N. Orbach, CPA, Ph.D.

McGladrey & Pullen completes purchase of RSM McGladrey McGladrey & Pullen, LLP recently completed the acquisition of RSM McGladrey Inc. from H&R Block Inc., and is returning to a traditional partner-owned CPA firm structure. McGladrey, the fifth largest U.S. assurance, tax and business consulting firm, also named national and regional leaders.

During the past 18 months, McGladrey has opened a national tax office in Washington, D.C. and realigned its business20

|

FLORIDA CPA TODAY

|

January/February 2012

consulting services. The firm also launched a new brand and opened various international service desks to support domestic clients with international operations, as well as foreign clients looking to expand into the U.S. For more information, visit www.mcgladrey.com or locate the firm on Facebook, Twitter or Linked In. www.ficpa.org

FASAB appoints McCall to fiveyear term The Federal Accounting Standards Advisory Board (FASAB) recently announced that FICPA member Sam McCall has been appointed to a five-year term that began Jan. 1.

McCall has more than 40 years’ experience in governmental auditing. He served as deputy state auditor for the State of Florida and presently is city auditor for the City of Tallahassee.

He is a CPA, certified government financial manager, certified internal auditor and certified government auditing professional.

McCall has served the profession at the international, national, state and local levels. He was vice chair of the International Internal Auditing Standards Board and a member of the Comptroller General’s Advisory Council on Government Auditing Standards. His experience with accounting standardssetting includes serving on task forces for the Governmental Accounting Standards Board and the AICPA’s FASAB Rule 203 review panel.

Scott appoints three, reappoints two to BOA In 2011, Gov. Rick Scott reappointed Cynthia D. Borders-Byrd and Maria E. Caldwell to the Florida Board of Accountancy (BOA). Gov. Scott named Borders-Byrd as BOA chairperson.

Borders-Byrd, of Lauderhill, is a managing member of C Borders-Byrd, CPA, LLC. Caldwell, of Miami, is the audit director at Deloitte and Touche, LLP. Both were reappointed for terms beginning Nov. 8, 2011, and ending Oct. 31, 2015.

Gov. Scott also appointed three new BOA members – Dr. Martin G. Fennema, FICPA Past President David L. Dennis and H. Steven Vogel. Fennema, of Tallahassee, is chair of Florida State University’s College of Business, department of accounting. He succeeded David Tipton. Dennis, of Longwood, is a partner at KPMG, LLP. He succeeded Frederick Carroll. And Vogel, of Key Biscayne, is a partner at Wilson Elser. He succeeded John V. Quinlan.

The new BOA members were appointed for terms beginning Aug. 15, 2011, and ending Oct. 31, 2014.

www.ficpa.org

Reck appointed to GASAC The Board of Trustees of the Financial Accounting Foundation (FAF) recently appointed five new members to the Governmental Accounting Standards Advisory Council (GASAC). Among them were FICPA member Jacqueline L. Reck, distinguished professor of accounting at the University of South Florida School of Accountancy. Reck was nominated by the American Accounting Association.

The GASAC is responsible for advising the Governmental Accounting Standards Board (GASB) on technical issues, project priorities and other matters that affect standard setting for state and local governments’ accounting and financial reporting.

GASAC members are chosen from a cross-section of the GASB’s state and local government constituencies, including users, preparers and attestors of financial information. GASAC members are selected on the basis of their professional expertise and the depth and variety of their experience.

The new GASC members will serve two-year terms that began Jan. 1.

Tax conference coming up The FICPA and The Florida Bar will present the 30th Annual International Tax Conference, Global Markets Demand Global Knowledge, Jan. 19-20 at the JW Marriott Hotel Miami.

To register, visit www.ficpa.org/cpe or call the FICPA’s Member Service Center at (800) 342-3197 (in Florida), or (850) 224-2727.

FLORIDA CPA TODAY

|

January/February 2012

|

21

Student outreach

Howard named AFS speaker of the year

d

By Tarsha R. Jacobs, CPA

During the 2010-11 Fiscal Year, almost 600 FICPA members volunteered through the FICPA’s Accounting for Success (AFS) education initiative. Volunteers reached about 5,000 high-school and college students in their communities, teaching them about the accounting profession and accounting-career options. Some also learned about basic accounting principles and financial literacy.

Each year, the FICPA Accounting Careers Committee recognizes an individual for his or her outreach efforts.

For her contribution to the AFS initiative, Linda Howard, CPA of the Orlando

Utilities Commission was named 2011 AFS Speaker of the Year.

During the fiscal year, Howard made 28 financial-literacy presentations to schools and community groups. She also served as chair of the Financial Literacy Task Force for the Central Florida Chapter. As chair, Howard trained volunteers to conduct financial-literacy presentations using four modules the FICPA provided.

Howard made it easy for volunteers to participate by contacting schools and other organizations to set up presentation schedules. Volunteers could begin by doing presentations with experienced presenters.

“The task-force group gives volunteers an opportunity to hear and share ideas that help them in their presentations,” Howard said.

AFS has even touched Howard’s personal life on a personal level. Through the initiative, her youngest daughter learned about some of the ways people mismanage their personal finances. Afterward, she was motivated to pursue a dream of helping families with terminally ill children prevent medical bills from affecting their credit.

Initiative needs members’ support The Accounting Careers Committee encourages members to get involved and volunteer in their communities. Because most presentations take place during business hours, employer support is essential.

“Present a summary of the modules to your supervisor first, and then ask if you can present it to your department,” Howard suggested. “You’ll educate others about the wealth of information the modules provide, and the need to communicate it to students.

“We should share our mission with them, and teach as many teens as possible some key financial-literacy facts before they graduate from high school,” Howard said.

Eleventh-grade students are Howard’s favorite audience, she said, because they understand the material well. They also are highly motivated and have time to practice the principles they learn before graduating.

Volunteers may donate two hours per year, per month or per week, depending on their level of interest and availability.

FICPA President Stam Stathis presents the 2011 AFS Speaker of the Year Award to Linda Howard, CPA, of the Orlando Utilities Commission.

22

|

FLORIDA CPA TODAY

|

January/February 2012

Tarsha R. Jacobs, CPA is a senior audit manager at BKHM, PA in Winter Park. www.ficpa.org

Thank you, volunteers!

The FICPA sincerely thanks the fantastic student outreach volunteers who made presentations during the 2010-11 Fiscal Year.

Bettie Adams University of North Florida Hazel Ademu-John Hazel A. Ademu-John, CPA Judy Albano Bollenback & Forret, PA, CPAs John Amrhein Moore Stephens Lovelace, PA Maclain Benton Kimberley M. Benton, CPA Donna Blaes Crippen, Trice, Ford, Torres, LLP Michelle Brockhum Michelle R. Brockhum, CPA Fred Brown FHB Advisory Services, LLC Anthony Carro Flagler College, Tallahassee Julie Cotton Lynch, Gregg & Lynch, PA Jennifer Cutting Cutting Taxes, LLC Mamie Davis Mamie L. Davis, PA Tanya Davis S Davis & Associates, PA Cindy Fernald Cynthia A. Fernald, CPA

www.ficpa.org

Angela Gantt AH Gantt, CPA & Associates, PA Hubert Gill University of North Florida Sharlene Golden Crowe Horwath, LLP Janet Grossman Janet K. Grossman, CPA Laura Guptill BDO USA, LLP Robert Hancock Surety and Construction Consultants Inc. Ken Hartwig Kenneth S. Hartwig, CPA David Hastings David C. Hastings, CPA, PA Dan Henn Daniel Henn, CPA, PA Linda Howard Orlando Utilities Commission Tarsha Jacobs BKHM, PA Marien Jamshidi; Marien I. Jamshidi, CPA Stanislav Jansta BDO Seidman, LLP Kathlyn Jordan Adams & Harper, PA, CPAs

Edward LaBrecque Edward C. LaBrecque, CPA, PA Howard Lau Tupperware Brands Coman Leonard Coman C. Leonard III, CPA Dawn Lopez Dwight Darby & Company Arpit (Pete) Maharaja Moore Stephens Lovelace, PA Gary Margolis Callaghan, Glassman & Margolis, LLC Maria Mari Miami Dade College Kathleen Masterson Flagler College, Tallahassee Steven McMullen KPMG, LLP Karen Mosteller Markham Norton Mosteller Wright & Co., PA Tim Naddy, Homes & Land Paul Nick Davidson & Nick, CPAs Lindsay Pate Adams & Harper, PA, CPAs Ralph Pondiscio Henderson Harbor Search, LLC

FLORIDA CPA TODAY

Michael Riskin CPS Group CPAs, PA Melvin Sams Bollenback & Forret, PA, CPAs Jonathan Sanchez Moore Stephens Lovelace, PA Lindsey Schuster Christopher, Smith, Leonard, Bristow & Stanell, PA Josy Scott BDO USA, LLP Amanda Scurti Meeks, Maige, Paulk & Associates, PA Terry Seaton Seaton Financial Advisors, LLC Jennifer Shechter-Liss Cherry, Bekaert & Holland, LLP Mia Thomas Mia A. Thomas, CPA Laura Violante Stone, Parker & Company, CPA, PA David White Carr, Riggs & Ingram, LLC Ron Wisneski Wisneski & Associates, PA Nate Woodrum Adams & Harper, PA, CPAs John Zullo John J. Zullo, CPA

|

January/February 2012

|

23

Governmental affairs

Early session and uncertainty ring in the new year

d

By John W. Johnson, FICPA director of governmental affairs

Don’t be surprised if your legislators’ ambitious efforts fade in a session dominated by the budget and redistricting.

Florida House Speaker Dean Cannon has said completing the budget and redrawing legislative and congressional district lines – which could involve a lengthy court review – are the primary and maybe even sole objectives for the 2012 Legislative Session.

“Right now, those are my only two priorities,” Cannon said. “Doing things we are compelled to do, and doing them well.”

Every legislative session begins amid a vast array of policy proposals, and

the 2012 Session is no different. Many groups already have launched ambitious legislative efforts, including opening the state to casino gambling and a push from businesses for tougher enforcement of tax laws on Internet sales to help brick-andmortar Florida businesses.

But the election-year Session, which began Jan. 10, may be marked by what lawmakers don’t get done as they focus on yet another state-revenue gap and reapportionment. Speaker Cannon, Senate President Mike Haridopolos and Gov. Rick Scott must prioritize what – if anything

beyond what Florida’s Constitution requires – will be on the Legislative agenda in 2012.

At the Associated Press’ annual legislative planning session in early November, Cannon said he would not pursue constitutional amendments to reform the Florida Supreme Court, his priority in 2011. Haridopolos made more news about a candidate he was endorsing for U.S. Senate race than he did about the looming session. And Gov. Scott presented a legislative agenda almost identical to last year’s – further reducing business taxes >>>

Gov. Rick Scott speaks to the FICPA Board of Governors at their Dec. 8 meeting in Tallahassee.

24

|

FLORIDA CPA TODAY

|

January/February 2012

www.ficpa.org

and purging Florida’s regulatory code of rules he considers impediments to job growth.

There will be no new taxes, Scott said, and he will continue pressing for more accountability from government agencies.

Shortfall predicted for 2012-13 budget In early fall, state economists issued a three-year financial outlook that predicted steadily growing tax receipts and no

budget shortfalls through 2015. But they also warned in September that consumer spending was slowing as home foreclosures continued to choke Florida’s economy, and almost 1 million Floridians remained out of work.

A month later, economists revised their forecast. This time, they predicted another state budget shortfall of almost $2 billion as the debt-ceiling standoff and European credit worries staggered consumer confidence and spending.

Speaker Cannon warned that “good and worthwhile programs will have to absorb cuts” to meet a state revenue shortage estimated to be almost $2 billion. The legislature likely will work on a state spending plan without the last-quarter fiscal data and the updated projections that come later in the year. This further complicates the budget process.

Cannon, who doesn’t plan to delay drafting the 2012-13 Budget, is defusing talk that lawmakers might wait in hopes of improving tax collections. >>> PAGE 27

Gov. Rick Scott speaks to FICPA leaders On Dec. 8, Gov. Rick Scott spoke to the FICPA Board of Governors during their meeting in Tallahassee. It was the first time in recent history that a sitting governor has visited FICPA headquarters to address the leadership.

Gov. Scott had just unveiled his 2012 Florida Budget recommendations the day before, and was departing on an international trade mission in Israel the same day.

“I’ve been in business all my life and I’ve used a lot of Florida accounting firms. I always enjoyed paying auditing fees, and Sarbanes Oxley was one of my favorite things,” Gov. Scott joked.

“I’m very appreciative of your hard work,” Scott told the audience. “My brother was a CPA and I thought about becoming an accountant. I wanted a job, and my brother appeared to have a good job. He worked for Ernst & Ernst after graduating in 1972. I took 18 hours of accounting, but I wanted to run businesses, so that’s what I ended up doing.

“I was born in Illinois and grew up in Kansas City.

My Dad worked as a truck driver and as a bus driver, and we lived in public housing. Only in America can you go from that background to being governor of the greatest state in the country, in the greatest country in the world,” Scott said. “My goal is to make sure that all the opportunities all of us have had in life don’t end.”

FICPA CEO-Executive Director Deborah Curry asked Gov. Scott how CPAs can be more involved in the governmental process, and if there’s anything CPAs can do to help promote business and create jobs in Florida.

“During my term in office, I’ll make 2,000 appointments to various groups. Find something you have an interest in and apply to get involved,” Scott said. “Write op-eds or columns about what you believe

www.ficpa.org

– concerning the budget, education, health care, anything. Tell people what you think.

“This is a very important time for our state and our country. I’m very optimistic about where this country is going. We are having a healthy debate about the size of government and what government should do. You ought to be part of it. Be as vocal as you can. People react.

“There are lots of ways to get involved. I really believe anybody can change this world. If I can be elected governor, anybody can. Run for office,” Scott said.

FICPA CEO-Executive Director Deborah Curry meets Gov. Rick Scott at the FICPA Board of Governors meeting on Dec. 8 in Tallahassee.

FLORIDA CPA TODAY

|

January/February 2012

|

25

26

|

FLORIDA CPA TODAY

|

January/February 2012

www.ficpa.org

(CONTINUED FROM PAGE 25)

President Haridopolos said he is open to postponing work on the budget until later in the spring – after lawmakers have completed the once-a-decade task of redrawing new boundaries for legislative and congressional seats.

New amendments create redistricting hurdles

FICPA Past President Jose Valiente of Larson Allen has led the charge for member contributions to the Florida CPA/ PAC.

Larson Allen leads by example At the beginning of 2011, Jose Valiente of LarsonAllen said he would answer FICPA President Stam Stathis’ call to build support for the Florida CPA/PACs. He has done just that.

Through Valiente’s efforts, Larson Allen has raised $5,000 (and counting) in individual contributions for the Florida CPA/PAC. “You have to go out and ask for support from your colleagues,” Valiente said.

“It isn’t enough just to do your part and stop there. The Florida CPA/PAC protects us, and we need to make sure it has the resources to do so.”

Valiente is a past president of the FICPA and has been a leader in the profession for many years. His support for the Florida CPA/PAC demonstrates his continued commitment to ensuring the CPA license maintains esteem and respect in the Florida Legislature.

The Florida CPA/PAC ensures that the CPA profession has a voice in the legislative process. To support the PAC’s advocacy efforts, contact John Johnson at (850) 224-2727, Ext. 203, or johnsonj@ficpa. org. Or visit, www.ficpa.org/content/ GovernmentalAffairs/PAC.aspx. www.ficpa.org

Reapportionment happens every 10 years, after the decennial census. Based on new population figures, 435 seats in the U.S. House of Representatives are redistributed among the 50 states. The U.S. Constitution guarantees each state at least one seat.

On Dec. 21, 2010, the director of census announced that Florida is entitled to 27 representatives in the U.S. House, an increase of two, effective with the general election in 2012.

Redistricting is the redrawing of district boundaries of congressional and state legislative electoral districts to adjust for various growth rates in different parts of the state. Districts determine which voters

participate in which elections for choosing representatives in the U.S. House and in the Florida Senate and House.

This year, the Florida Legislature will redraw the state’s congressional districts, as well as districts for House and Senate seats. Legislative committees have worked for months on drawing lines for 27 congressional districts, 40 state Senate tracts and 120 House seats, knowing that whatever maps they make likely will wind up in state and federal courts.

The once-a-decade process is complicated this year by two new Fair Districts Florida constitutional amendments. Challenged in court by the House, the amendments impose legal criteria forbidding consideration of incumbency or party advantage. They also require districts to be as compact as possible while protecting minority voting interests.

For more information about the 2012 Legislative Session, contact John Johnson, FICPA director of governmental affairs, at (850) 224-2727, Ext. 203, or johnsonj@ ficpa.org.

FICPA monitoring 2012 legislation Florida House and Senate members will propose and debate thousands of pieces of legislation. Here are several issues that are on the FICPA’s “watch list.”

Board of Accountancy • The budget is the only constitutionally mandated bill the Legislature must approve. With a projected $2 billion shortfall, the FICPA will work hard to ensure the Florida Board of Accountancy (BOA) is properly funded • With unanimous support from the BOA, the FICPA will sponsor legislation that requires mandatory peer review as a condition for firm licensure • Gov. Scott’s appointees to the BOA seek Senate confirmation • Sweeping trust funds and trust-fund consolidation Services Tax • The FICPA continues to oppose taxing services • The FICPA will participate in any legal challenge with the Coalition to Protect Florida’s Economy against proposed constitutional amendments seeking to tax services The FICPA will monitor these and other issues outlined in the 2012 Legislative and Regulatory Policies. To view them, visit www.ficpa.org/ GovPolicies.

For more information about legislative or regulatory issues, contact the FICPA’s Governmental Affairs Team at (850) 224-2727, Ext. 203, or govaffairs@ficpa.org.

FLORIDA CPA TODAY

|

January/February 2012

|

27

New members The Florida Institute of Certified Public Accountants welcomed 219 new members during October and November 2011.

Atlantic Boca Raton: Gary L. Dennis, Phyllis L. Fee, Michael Graham, Mark S. Yaralli Lake Worth: Nancy A. Hanlon

Sarasota: Adam L. Gardner, Ryan R. Patton, Yekaterina Pogorelskaya, Irina V. Shaker Seffner: Brian C. Pintacuda Venice: Brenda M. Ward

Brevard County Indian Harbour Beach: Sharlee S. Lee Vero Beach: Paul A. Newman

Jacksonville Atlantic Beach: Amanda Huebner Jacksonville: Donald W. Blais, Jacqueline L. Burke-Geiss, Donald B. McElroy, Lisa A. Sawyer, Paul A. Tappe St. Augustine: Johan C. Flostrand, Jeff D. O’Dell Tampa: Rachel L. Perlmutter

Broward County Aventura: Annette Berens Cocoa Beach: Christopher DeMont Coconut Creek: Fernando M. Torres Coral Springs: Laura A. Chick Davie: Jennifer L. Farrington Deerfield Beach: Shari F. Seewald Fort Lauderdale: Laura P. Dewitt, Samantha Gable, Steven A. Kocaj, Alexander Nemeth, Meehyang Oh, Leslie D. Powery, Jennifer Stolberg, Jeremy R. Wilson Hollywood: Jeremiah A.A. Saunders Margate: Dania Jaggon Miami: Richard C. Jung, Brooke Kornberg, Lisa A. Ronchetto Miramar: Julius A. Adeyiga Pembroke Pines: Andrew T. Majka, Shirley A. Ramee Plantation: Sam Sami

Miami-Dade Bay Harbor Islands: Ivette Rodriguez Coral Gables: Briana Guanchez Deerfield Beach: Sirichai Assapimonwait Hialeah: Anilec Garcia, Alejandro Reyes Linwood: Stuart Stromfeld Miami: Nicole C. Alvarez, Alfredo A. Caraballo, Alexandra Castano, Susana B. Del Busto, Desiree M. Elias, Javier J. Ferreiro, Ravi Gupta, Danielle Jeffries, Robert W. Kianos, I. Richard Krissel, Gladys Mazon, Christina N. Oyarzun, Bonnie A. Phillips, Lauren D. Wiener Miami Beach: C. Peter Wallace North Miami: Jason A. Hijuelos

Central Florida Celebration: Brian H. Melton Chuluota: Kevin H. Gay Gotha: Gentry T. Hill Lake Mary: Eric C. Stewart Longwood: Vanessa R. Talley Maitland: Michele C. Foreman Merritt Island: Shivam N. Jadeja Orlando: Matthew L. Anderson, Daniel Conn, Puja J. J. Mandolfo, Francisco Peralta, Vanessa Rivera, Mark W. Shaffer Oviedo: Stephen P. Bonck St. Cloud: Michelle M. DuMars, Heather Litteral Tampa: Julia D. Daigle Winter Springs: Vanessa A. Peri, Kenneth J. Vitek

Miami-Downtown Miami: Carlos J. Avila, Karla C. Bailey, Oscar Caceres, Darrell G. Campbell, Christine M. Cano, Itchel Hondares, Samantha A. Schlotzhauer, Ali Sokol, Linda V. Cavuto, Rene L. Velazquez, Peter Zubizarreta Miami Beach: Diana L. Rodriguez Weston: Yuri Tanaka Miracle Strip Panama City: Beth Thompson North Central Florida Gainesville: Devin J. Williams Newberry: Ryan A. McIntosh

Florida Keys Key Colony Beach: Melissa J. Grady Marathon: Tamra R. Downen

North Suncoast Safety Harbor: Cesar Tioseco

Gold Coast Sunrise: Scott L. Krutchik

Palm Beach Boca Raton: Daniel I. Alvarado.

Lori P. Battaglia, Bernadette L. Lombardo, Thulee Thieu

Gulf Coast Fort Myers: Amit Patel North Port: Scott Skipper 28

|

FLORIDA CPA TODAY

|

January/February 2012

Boynton Beach: Michael D. Preslo Deerfield Beach: Jordan Lubart Delray Beach: Jack G. Edelman, Joel M. Kosovsky, Joanne Sinchuk Jupiter: Scott DiSalvo Lake Worth: Mark D. Pesanelli North Palm Beach: Matthew T. Wallsmith Palm Beach: Robert J. Jackson, Scott Sundem Palm Beach Gardens: David I. Lanier, John D. McCahan Singer Island: Gail S. Moxley West Palm Beach: Allyse Carter, Bradley M. Anderson, Patrick J. DiSalvo, Andrew J. Ford, Michael A. Hanrahan, Jill D. Fasel, Nursen Ulupinar, Cheryl A. Warner Wellington: Lisa M. Smith Polk County Lakeland: Dennis E. Beasley, Ryan B. Beasley, Kimberly W. Bedwell, Cheryll E. Mayle, Nolan P. O’Neal, Laurie Sandoval Sailfish Jensen Beach: Scott M. Brechbill Rye: Frederick G. Briggs Stuart: Annette S. Robbins Vero Beach: Susan Calender Sandspur Brandon: Brittany J. Bennett Lithia: Valerie J. Erdelac Tampa: Willis E. Erickson South Dade Miami: Georgia C. Smith Southwest Florida Arcadia: Jan B. Brewer Bonita Springs: Birgit Elfinger Cape Coral: Richard H. Ross Estero: Thomas E. Barton, Neil Minsky Fort Myers: Alisha Angeloff, James A. Greer, Alexis Hardwick, Penny Pike, Brian D. Sanders, Jesse Winslow Marco Island: William A. Van Glabek Naples: Wayne K. Hesson, Ryan Miller, Denise A. Treat Norridge: Anna K. Di Bartolo Punta Gorda: Gary A. Kramer Sarasota: Alexandria Davis

Suncoast Clearwater: Andrew Machota Largo: Jamie Burge, Jeffrey C. Himmelreich Palm Harbor: Kaylie M. D’Angelo Sarasota: John T. Laskey Seminole: Peggy J. Arvanitas, Deborah L. Hilleary St. Petersburg: Paula P. Jordan Tampa: Adrian K. Skane Tallahassee Tallahassee: Walker Bridges, Blaine Click, Irene Eierhart, Andre J. Holmes, Matt Lambert, Carol Lamm, Erik D. Luoma, Terry W. Mason, Thomas E. Montalbano, Susan E. Platt Volusia County Flagler Beach: Michelle L. Gallagher Summerfield: Roger L. Runyon West Coast Apollo Beach: Christine Johnson Brandon: Erica Usry North Port: Justin Mays Spring Hill: Cheryl Miller Tampa: Leah M. Bonetti, Shelsee N. Byrnes, William J. Chase, Sally E. Day, Cynthia A. Dela Cruz, Stephanie M. Gibson, Cherilyn J. Herzhauser, Morgan E. Iurato, Bradley Knudsen, Andy B. Lai, Michael R. Mullen, David M. Osborne, Jacquelyn S. Russell, Anthony L. Sanchez, Brian Sullivan, Jacqueline C. Williamson Zephyrhills: William H. Webb Milton: Joshua R. Strickland Out of State Algonac, Mich.: Christopher J. Picciurro Auburn, Ala.: Sarah D. Stanwick Goshen, N.Y.: Irwin Kossoff Havertown, Penn: George A. Donnelly, III Mount Pleasant, Mich.: Timothy M. Janiszewski Paw Paw, Mich.: Richard L. Gilland Sterling Heights, Mich.: Brent Green West Islip, N.Y.: Joseph P. Fernandez

St. Johns River East Palatka: Sandra L. Raburn Orange Park: Krystle Hoard www.ficpa.org

Web digest Whether published in Florida CPA Today or on the FICPA’s website, www.ficpa.org, articles by FICPA members are full of information about timely accounting issues. On the website, you’ll find new and archived articles on a variety of topics.

To read this article in its entirety, visit the FICPA’s website at www.ficpa.org/FCT/Technical.

The best accounting and finance departments

h

Top 10 attributes

How good is your finance and accounting department? Do you have the very best people working there? Are you using the right resources? Should you hire an additional accountant, or should you improve your financial reporting system?

Executive management and boards of directors frequently ask these questions.

The University of Florida Foundation recently underwent a change in leadership.

“To be the best,” said Tom Mitchell, the new vice president of the University of Florida Foundation, when asked how he envisioned every department in the organization.

Each department was asked to evaluate and rank itself against the top attributes for each program. This article discusses our finance and accounting team’s efforts.

Come again? Rank ourselves? How would we score ourselves on a scale of one to 10, from needing lots of improvement to being the very best non-profit finance and accounting department? One way to consider this is to ask: If you were given additional money to become the best nonprofit finance and accounting department in the country, how would you spend it?

Our finance and accounting team brainstormed about the top 10 attributes of the best finance and accounting department. We then ranked ourselves against the list. Our goal was not to have a perfect score, but to see where we ranked and to identify areas where we needed to improve.

After many hours of discussion, we developed our first draft. We waited to score ourselves until we received feedback from some other non-profit finance and accounting departments about the comprehensiveness of our initial criteria.

Once a year, all 11 Florida state university foundations’ chief financial officers get together to share ideas, listen to presentations on relevant topics, ask www.ficpa.org

By Alan M. West, CPA

questions and share how we handle various accounting issues. I was reluctant to share our initial draft, but I’m glad I did. I received an overwhelmingly positive response.

During our discussion, the only rule was that if you wanted to remove an attribute from the list, you had to suggest a replacement. If the group reached a consensus that the suggested attribute was important, we replaced the old attribute.

We also ranked the attributes in order of importance.

This article describes the top 10 attributes list for university institutionallyrelated foundations finance and accounting departments. I encourage you to substitute any attribute and tailor it to fit your particular industry. However, I believe the first three attributes are essential to any business. One of the main benefits of this exercise is the discussion process. You’ll look at your department from an entirely new perspective.

As you go through the list, give yourself a full point if you feel your department absolutely meets this attribute. For example, (1a) is board interaction. If

your CFO/Controller has effective board interaction with the finance and audit committees, for example, give yourself a full point. If this area needs improvement, give yourself a half point or less, depending on your evaluation.

After you’ve ranked yourself, add your points and divide by 50. This will give you a score between zero and 10. Maybe you will score six or seven out of 10. The score doesn’t really matter. The evaluation, and knowing what your next steps should be, is the win.

Good luck with this analysis. I’d love to receive your feedback or input at awest@uff. ufl.edu. We were a seven out of 10 and are looking forward to becoming an eight out of 10 by the end of next fiscal year.

Alan West is the controller for the University of Florida Foundation. He is a licensed CPA in Florida and has a master’s of business administration degree. He is an FICPA member and is president-elect of the North Central Florida Chapter.

To continue reading, visit www.ficpa.org/FCT/ Technical.

FLORIDA CPA TODAY

|

January/February 2012

|

29

30

|

FLORIDA CPA TODAY

|

January/February 2012

www.ficpa.org

t

FICPA NewsFlash digest To bring FICPA members the most current news and information in today’s fast-paced business environment, the FICPA compiles NewsFlash, a timely assortment of news events happening in the profession. The newsletter is e-mailed every two weeks, typically on Thursday afternoons.

Here are some of the most popular recent FICPA NewsFlash features. To view the full stories and other NewsFlash briefs, visit our archives at www.ficpa.org/members/newsflash.

Dec. 15, 2011 IRS Announces 2012 Standard Mileage Rates – The IRS has issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, 2012, the standard mileage rates for cars, vans, pickups and panel trucks will be: • 55.5 cents per mile for business miles • 23 cents per mile for medical or moving purposes • 14 cents per mile in service of charitable organizations

www.ficpa.org

Keep Your CPE Certificates of Completion – You Might Be Audited – When fulfilling their CPE requirements for license renewal, CPAs must keep their certificates of completion, even if their state boards of accountancy don’t require them to file the forms. State boards routinely audit a random selection of applicants for proof of course completion. Providing incomplete or false information can mean a fine, a reprimand or the loss of one’s license.

New Jersey’s The Star-Ledger reported that an audit of New Jersey CPAs for the years 2006-2008 revealed that four percent of the CPAs – about 780 of 20,000 – falsely reported they had taken an ethics course that the state requires. Some of those CPAs also failed to prove they had taken other courses they claimed credit for on their renewal reports.

Dec. 1, 2011 DBPR Simplifies CPE Reporting Confirm Your Renewal and Use CPE Tracker – Florida CPAs no longer are

required to submit a detailed CPE reporting form when renewing a current, active license (effective with the reestablishment period ending June 30, 2011). Gone, too, is the $50 late-reporting fee for failing to report CPE by July 15.

CPAs now are required simply to check a box confirming completion of all CPE requirements and pay the $105 licenserenewal fee by Dec. 31, 2011. If you fail to complete and report the required CPE by Dec. 31, your license will revert to inactive status and will require reactivation to become current/active.

CPAs still are required to maintain documentation evidencing CPE-course completion. If a licensee is selected for a CPA audit, DBPR will require submission of the documentation, pursuant to rule 61H1-33.003(6). Detailed course requirements; a copy of the CPE guidelines; and a list of approved ethics courses are available on the Board of Accountancy’s website.

FLORIDA CPA TODAY

|

January/February 2012

|

31

Marketplace POSITIONS AVAILABLE

OFFICE SPACE

South Florida ofcs (Miami, Fort Lauderdale & WPB) of regional accounting firm need several people w/ 2+ yrs exp in audit or tax.

Per diem work w/flexible hours or full time. Please email resume to kathynewman2001@hotmail.com.

Tax manager – Lamn, Krielow, Dytrych & Company, celebrating 40 yrs, is a fast-growing CPA firm w/30 people in Jupiter. We are looking for a manager for our tax department. The qualified individual will be responsible for preparing & reviewing complex corporate, partnership, LLC and individual income returns, trusts & estates; supervising staff in preparing corporate, partnership, LLC & individual income returns; working w/clients & partners on complicated tax issues & entity structures; performing tax research & preparing conclusion memos to partners & clients as needed; participating on the tax committee (which involves software evaluation, staff assignments, making recommendations to partners on tax-department related items & billing of clients’ accounts). We have a diverse & exciting client base representing many different industries, providing interesting challenges to the qualified candidate. The firm provides exceptional fringe benefits, including a 40-hour work week (outside of tax season) which ends at noon on Friday. Email resume to marcyd@lkdcpa.com.

Senior staff accountant – Lamn, Krielow, Dytrych & Company is a fast-growing, progressive CPA firm that currently employs 30 people in Jupiter. We are looking for professionals at the senior level for the tax, audit & litigation departments. We have a diverse & exciting client base representing many different industries, providing interesting challenges to the qualified candidate. The firm provides exceptional fringe benefits, including a 40-hour work week (outside of tax season) which ends at noon on Friday. Email resume to marcyd@lkdcpa.com or fax to (561) 626-2158.

Janice W. Lake and Associates Inc., an established CPA firm in St. Augustine, seeks an experienced professional w/ 5+ yrs of recent tax-preparation & public-accounting exp. Attention to detail w/ advanced communication & organizational skills is valued. Salary & benefits are commensurate w/exp. Please email resume to info@ jlakecpa.com.

Gainesville tax boutique seeks staff accountant for income & estate-tax planning as well as preparation of individual, business & trust returns. CPA preferred. Competitive salary, benefits & paid personal time. Email resume to hiringmanager23@live.com.

Clearwater CPA firm needs an audit manager. Supervisory exp; electronic W/P exp; peer review exp; in-house trainer; all aspects of A&A. Email resume to Linda at Bollenback & Forret, CPAs – cpas@bollenback.com.

Tax manager/supervisor – James W. Walker, PA is a smallbut-growing Naples CPA firm w/a diverse tax, auditing & accounting practice. We are looking for an individual who has previous mgmt and tax experience & excellent communication skills. The qualified individual will be responsible for preparing & reviewing bookkeeping services, corporate, partnership, LLC, individual, trust & estates, gift tax & nonprofit tax returns. The qualified individual will supervise & review staff in preparing year-end bookkeeping, compilations, reviews & income tax returns; assist clients & staff; work directly w/clients & partners as needed; perform tax research; obtain clients for firm & provide administrative assistance for firm activities as necessary. Auditing background a plus, but not a requirement. Email resume to info@ jameswalkercpa.com.

Beautiful professional offices to share in Fort Lauderdale. Fully furnished. Internet access, phones, copier, fax machine & additional services available. Conference room. Parking. Full kitchen. Kane & Company, PA. (954) 767-0440.

Mendez & Company, CPA has ofc sharing for lease in NW Miami.

Up to 4 ofcs w/windows for rent. Kitchen, conference, Internet, & phone included. 17670 NW 78th Ave., Miami. Call (305) 8228177 or email Kevin@mendezcpa.com; http://www.mendezcpa. com.

Hollywood CPA has large private ofc available; annual lease or month-to-month; access to reception area, conference room, & kitchen; onsite parking; call Marty at (954) 922-3144.

32

|

FLORIDA CPA TODAY

|

January/February 2012

PRACTICES WANTED FOR PURCHASE OR MERGER CPA in Palm Beach County looking to buy out or associate w/ retirement-minded practitioner in Palm Beach or Dade County.

I am looking for a practice between $100,000-$300,000. Please email me at cpanj2009@aol.com.

Growing South Florida CPA firm looking to purchase a practice from a retirement-minded CPA in Dade County. Favorable purchase terms offered w/continuing employment opportunities available. Please contact Jeffrey Taraboulos at info@ksdt-cpa.com or (305) 670-3370.

Looking to acquire small- to medium-sized accounting practice based in North Pinellas or West Hillsborough County; principals only; terms negotiable; email contact information in strict confidence to tooth1966@gmail.com.

RATES AND FEES: Members - $95.95 for 35 word minimum; $2.73 per word over 35 words. Nonmembers - $108.15 for 35 word minimum; $3.09 per word over 35 words. Advance payment is required. Bolding and logos are permissible for an additional fee.

CATEGORIES: Content subject to approval and categories available are: (1) Positions Available, (2) Practices Wanted for Purchase or Merger, (3) Miscellaneous, (4) Office Space, (5) For Sale.

All requests are subject to space availability. Ads run concurrently on Florida CPA Netlink™, www.ficpa.org.

SUBMISSION OF ADS: Email ads to communications@ficpa.org. For more information, contact the FICPA Communications Department at (800) 342-3197 (in Florida) or (850) 224-2727, Ext. 385.

FILE NO. REPLIES: If anonymity is desired, responses can be mailed to the FICPA offices using a file number. The responses will be forwarded to the address provided by the advertiser.

For complete classifieds policies, visit www.ficpa.org/Content/ CPAResources/ClassifiedsJobs/Classifieds.aspx.

www.ficpa.org

FCT offers federal-tax article archives CPA actively looking to purchase personal and/or small business accounting/tax practice based in Miami-Dade, Broward or Palm Beach County; $100,000-$200,000. Email contact information in strict confidence to isafra@aol.com.

CPA looks to purchase tax through review practice in South Fla. Revenue $150,000 to $500,000. Reply to info@joegormleycpa. com.

Miami CPA w/well-established practice looking for association or merger w/another sole practitioner. Attractive situation for CPA w/a book of business & interested in profiting from the synergy of combining practices. Ideal for one who has recently started a growing practice. Eventual exit strategy is my motivation. Email responses to reply@ficpa.org and reference E PW 01 02 12.

FOR SALE

Here is information about some of the federal-tax related articles that have appeared in previous issues of Florida CPA Today. To view these and other federal tax articles online, visit the FCT technical-article archives at www.ficpa.org/Content/Members/ Tools/Publications/FCT/Technical/Tax.aspx January/February 2011 Update on S Corporations

Page 10

The New Preparer Regulations Closing the Tax Gap?

Page 13

Web Digest Court Rules in Favor of Tax Preparer, Against IRS

Page 20

January/February 2010

Successful transitions require experienced, confidential, professional services you can trust. This is what Akins Professional Brokerage provides. Specializing exclusively in the brokerage of CPA firms, we have no upfront fees. List your firm w/a professional. Call David Akins, CPA, at (877) 277-0272.

Visit our website at www.ProfessionalCPAbroker.com.

S Corp Update

Page 12

Preparer Penalties: You Win Some, You Lose Some

Page 22

Web Digest Circular 230 and Internal Revenue Code § 6694

Page 34

Buy-Sell-Merge-Finance your practice w/USA’s No. 1 Accounting Brokerage Firm. A Florida-licensed real estate broker w/ 28 yrs of CPA firm merger-acquisition exp. We have 90% bank financing. Current practices available include: East of Orlando $1,600,000; St. Pete grossing $200,000+; Tampa-Largo grossing $1,250,000; Orlando $450,000+; Ocala $175,000+; West Palm Beach area $750,000+. Fort Lauderdale $400,000; Melbourne area $175,000. Many others! Contact Leon Faris, CPA (800) 729-9031; Erwin Rosenblatt (772) 692-8746; or Jack Saltman (407) 902-3288 at Professional Accounting Sales. Visit our website at www.cpasales.com.

MISCELLANEOUS Free brochure – How to Establish Your Fees. Practical tips for accountants who want to improve their fee structure. Call Mostad & Christensen at (800) 654-1654 or go to www.mostad.com/kc/ss. www.ficpa.org

FLORIDA CPA TODAY

|

January/February 2012

|

33

Linda S uz z

Griffin ne an Richar dA .

on obs Jac Lisa R . Jo son hn John M .L

ez op Mark Pe s

elli an Leslie Po

On the move TRANSITIONS Enterprise, Ala.: Central Florida accounting firm Hoyman Dobson CPAs has merged with Carr, Riggs & Ingram, LLC. The Melbourne office location joins the established Winter Park office and now will operate under the name of Carr, Riggs & Ingram. Both locations will remain open.

Fort Lauderdale: Keefe, McDullough & Co., LLP welcomes Timothy Connolly and Alexander Nemeth to the position of staff accountant; Mark Pesanelli to the position of senior; and Leslie Powery to the position of supervisor.

Fort Lauderdale: RSM McGladrey Inc. and McGladrey & Pullen, LLP recently announced the promotion of 25 employees to partner/managing director roles.

Miami: CBIZ and Mayer Hoffman McCann, LLC announces that Michael Pantori Jr. has joined the firm as a senior tax manager.

Milwaukee and Minneapolis: Clifton Gunderson and LarsonAllen LLP plan to merge. The new firm will be named CliftonLarsonAllen.

Sarasota: Kerkering, Barberio & Co. announce that Michael Audet has joined the firm as a senior accountant in the audit segment.

St. Petersburg: Gregory, Sharer & Stuart announce the addition of Deborah C. Fallucca to the firm as a tax principal.

Tampa: Foelgner, Ronz & Straw, PA announces their merger of Horowitz & Company in conjunction with the grand opening of their new office in the Westshore district of Tampa. Their new office is located in Bridgeport Center at 5201 Kennedy Blvd., Suite 620.

WHO’S NEWS Katherine D. Allen and Merry Lynne Wilson will be partners in their new firm, Allen and Wilson, CPAs in Gainesville. Also, Allen obtained her CRISC certification.

Averett Warmus Durkee Osburn Henning in Orlando has been honored with the 2011 Alfred P. Sloan Award for Excellence in Workplace Flexibility Also, the firm has been renewed as an American Heart Association Fit Friendly Company.

Bennett Thrasher PC of Atlanta, Ga. recently was named as one of the 2011 Best Accounting Firms to Work For by Accounting Today and Best Companies Group.

David Bergstein of CCH, a Wolters Kluwer business, has been selected as the 2011 recipient of the On the Edge Innovation Award.

Jon E. Davis of Jon E. Davis, CPA, PA in Naples was named 2011 Director of the Year by the Bonita Springs Area Chamber of Commerce.

Alan Fiske of Fiske & Company in Plantation has been recognized by Strathmore’s Who’s Who Registry for his outstanding contributions to and achievements in the field of accounting.

Linda Suzzanne Griffin of Linda Suzanne Griffin, PA in Clearwater participated in a panel discussion titled “Effective Estate Planning Under the 2010 Tax Relief Act – The Clock is Ticking or is it a Bomb?” as part of the WEDU VI Annual Estate Planning Conference.

Michael Hammock of Buttner Hammock & Company, PA in Jacksonville spoke at the Oncology Managers of Florida Fall Conference. His presentation was entitled “Fraud and Embezzlement in the Workplace.”

Richard A. Jacobson of Fowler White Boggs, PA in Fort Lauderdale has been re-elected to the Board of Directors of TerraLex. Lisa R. Johnson of Christopher, Smith, Leonard, Bristow & Stanell, PA in Bradenton/Sarasota recently was named a Five Star Wealth Manager, as announced in the November 2011 issue of Sarasota Magazine.

Kaufman, Rossin, & Co. with offices in Miami, Fort Lauderdale and Boca Raton has become the first South Florida accounting firm, and only one of 33 nationwide, licensed to offer WebTrust certification for business owners engaging in e-commerce.

John M. Lopez of Myers, Brettholtz & Company, PA in Fort Myers has rejoined the Board of Directors of the Island Coast Aids Network.

Gail Markham of Markham Norton Mosteller Wright & Company has been selected as the 2011 Woman of the Year

by Gulfshore Life magazine. Also, the firm announces that it has successfully completed a rigorous peer review of its accounting practices.

Dennis Milam of CBIZ Kirkland, Russ, Murphy and Tapp was appointed to the Board of Directors for The Children’s Home.

Myers, Brettholtz & Company, PA has signed on as a bronze-level sponsor for the Fourth Annual WINK News Feeds Families Hunger Walk. Steve Brettholtz and Lori Wilson have become panelists for the Community Association Officers Forum for the 2011-2012 season.

And Gulfshore Life magazine honored the firm as the 2011 Outstanding Business Philanthropists for Lee County.

Lindsey Schuster of Christopher, Smith, Leonard, Bristow & Stannell, PA in Bradenton/Sarasota was a delegate to CPAmerica International’s 2011 Tax Conference in Scottsdale, Ariz.

Kelly Ann Talamo of Myers, Brettholtz & Company, PA in Fort Myers recently addressed the United Community Association Network regarding budgeting and reserves. Also, Lori Wilson has joined the Board of Directors of the MetroMcGregor Kiwanis Club of Fort Myers.

Jay Taylor of Anchor Financial Services in Stuart was awarded the Performer of the Year Award at the 15th Annual Executive Roundtable Awards Dinner in Daytona Beach.

Eric Troyer and Chris Wailand of Kerkering, Barberio & Co. in Sarasota have passed all four parts of the CPA exam to obtain the designation of Certified Public Accountant.

ry we For more news about members and other Florida CPAs, visit CPAs in the Spotlight at www.ficpa.org/Content/News/Spotlight.aspx.

The space for Who’s News, Transitions and other announcements published on this page is limited to news focusing on promotions and new hires for FICPA members; speeches by members at professional conferences; and other firm news, such as recognition of business achievements. We do not publish FICPA committee appointments as a part of this feature because of space limitations. Submissions for On the Move can be e-mailed to communications@ficpa.org.

34

|

FLORIDA CPA TODAY

|

January/February 2012

www.ficpa.org

www.ficpa.org

FLORIDA CPA TODAY

|

January/February 2012

|

35

Florida Institute of Certified Public Accountants P.O. Box 5437 Tallahassee, FL 32314-5437

Manage your firm’s CPE, CPE Tracker & Membership in one place: the Firm Link Administration Gateway (FLAG)/Firm Portal.

For details, email hepnerl@ficpa.org.