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TODAY
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VOLUME 31, NUMBER 4
A P U B L I C AT I O N O F T H E F LO R I DA I N S T I T U T E O F C E R T I F I E D P U B L I C A C C O U N TA N T S
cover story
departments
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5 President’s message 26 CPAs in the spotlight 32 Staff reports 34 News briefs 36 Marketplace 38 DOR update
Mia Thomas Living Passionately, Giving Generously as Board Chair
features 6 10
Meet the 2015-2016 FICPA Executive Committee
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Benefit Corporations Facilitating community improvement, simply
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Florida Implements New CPE Requirements
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Board of Accountancy Identifies Top 10 Violations
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Abby Dupree
Joey Epstein
Gary Fracassi
Sarah Funk
Brad Gould
Paulette Holder
W.G. Spoor
Alan West
Expanding the Classroom Walls International study benefits the profession
The 30th Annual Accounting Show See what’s new Of Course! Your CPE Source
Cover Photo by: wet orange studio FLORIDA CPA TODAY
www.ficpa.org
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F L O R I D A
PRESIDENT/CEO Deborah L. Curry, CPA, CGMA DIRECTOR OF MARKETING & COMMUNICATIONS Dave Cone EDITOR Suellen D. Wilkins GRAPHIC DESIGNER Loleta K. Bolden PUBLICATIONS COORDINATOR Dianne Dearduff EDITORIAL COMMITTEE David J. Hochsprung, CPA, chair Keith C. Blackman, CPA • Walter C. Copeland, CPA Douglas E. Day, CPA • Lynda M. Dennis, CPA Michael S. Kridel, CPA • Troy Y. Manning, CPA Vicki H. Meyer, CPA • Ryan A. Myers, CPA William C. Quilliam, CPA
Florida A&A Requirements
What’s your opinion?
The FICPA is considering pursuing a statutory change allowing an alternative to the required Accounting and Auditing (A&A) continuing education every two years. Please weigh in by taking the short survey at www.ficpa. org/A&Asurvey. (Note: Only voting-class FICPA members are eligible. Thank you!) 4
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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/letterstoeditor. 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 criteria 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, Ext. 270. © 2015 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.
president’s
MESSAGE
CPAs: Working to Help Taxpayers
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n May, your FICPA members of the AICPA Council met in Washington, D.C. and visited our U.S. senators and representatives on Capitol Hill. These were some of the best meetings I’ve attended in the past several years. I thoroughly enjoyed working with my fellow CPAs to address issues that affect taxpayers throughout the nation. Upon returning home, I was surprised to find that two of the four issues we addressed in Washington would surface as topics of conversation on our member Connect forum and in family discussions.
AICPA urges IRS to improve services If you’ve been following our governmental affairs newsletter, IMPACT Report, or the discussions on FICPA Connect (formerly our Listservs), you’ve noted a great deal of controversy surrounding the services the IRS is providing taxpayers and practitioners. The IRS simply cannot address the number of incoming telephone calls they are receiving. There are many reasons why, and the debate will continue as to whether or not the U.S. government will allocate adequate funds to solve the problem. Until then, taxpayers and practitioners are bearing the stress of complying with tax law but not receiving the help they need. During its May meeting, the AICPA governing Council approved a resolution that “urges policy makers to create an objective, bipartisan forum” to offer recommendations to transform the IRS into a “modern-functioning, evolutionary and respected federal agency.” As soon as I returned from Washington, I found a discussion thread on our Management of an Accounting Practice (MAP) Connect forum highlighting problems in contacting the IRS. Here are two of the posts: • “I just called the practitioner’s hotline and got a message that said, ‘Due to significantly high call volume, we cannot take your call at this time. Please try your call again later.’” • “Back on the practitioners hotline topic – on hold 1:56 before a phone was answered today. At least I was allowed to be on hold. The agent said ‘lack of hiring’ is the problem. The original wait time was ‘more than 60 minutes.’”
Deborah L. Curry, CPA, CGMA
and state societies. The FICPA is supporting the letter cosponsored by U.S. Rep. Gwen Graham to the Secretary of the IRS. I share this with friends and business colleagues to let them know our profession does far more than provide tax returns or prepare financial statements; we promote what is in taxpayers’ best interest and try to improve the system where we can. This, I believe, is one of the most valuable services we offer.
Natural disasters: advocating automatic tax relief In the last week of May, I watched daily as news of tornadoes and floods ripped through parts of the country, taking lives and destroying homes. The monetary cost to our country will be phenomenal, and the cost to the victims is far beyond financial loss. Could it have been more timely that we were just in Washington discussing the fiscal impact of natural disasters? We have been, and will continue, encouraging members of Congress to pass conformity in disaster tax-relief provisions, to help taxpayers reconstruct their lives when personal and business assets have been destroyed. Currently, each disaster is handled separately and various tax provisions are enacted. However, this often does not happen until long after a disaster, and precious time to help taxpayers is lost. The current system also is inconsistent, so those who need help have no idea what assistance will be available. There’s a patchwork of rules that don’t provide stability in our tax system. For many it will take years to recover, and I’m sure there are some who will never be made whole again. The recommendation we made to legislators would allow taxpayers and their tax advisers to immediately seek relief to address the financial effects of disasters. One such provision would allow casualty loss carrybacks to five years, instead of the current two-year period. If adopted, tax practitioners could file amended returns much sooner to provide taxpayers with funds to begin rebuilding their homes and businesses.
FICPA members have asked, “What can we do to put pressure on the government to adequately fund the IRS so we can help our clients resolve issues?”
As trusted advisors, CPAs don’t just focus on our own businesses. We recognize when the systems in place simply are not best for the taxpayers of this country. And I am proud to represent professionals who can offer their expertise for the good of others. FCT
The question is a good one. And I believe that the profession has begun, in earnest, pointing this out to legislators, asking them to take action and combining forces among national
Visit www.ficpa.org/disastertaxrelief to read the AICPA brochure entitled Natural Disasters: The Case for Permanent Tax Relief.
FLORIDA CPA TODAY
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Meet the 2015-2016
From FICPA communications staff reports
FICPA Executive Committee The FICPA’s nine-member Executive Committee is comprised of FICPA Board Chair Mia Thomas and eight directors. Deborah Curry, FICPA President/CEO, serves as secretarytreasurer and non-voting EC member. The Committee implements the Board of Governors’ policies and oversees the Institute’s activities. Here is some information about the 2015-2016 Executive Committee members, including what motivates them to serve and how they hope to make a difference.
ABBY DUPREE, CPA, CGMA Dupree has been with Carroll and Company, CPAs since 1994. She has been a partner with the firm since 2002 and became the managing partner in January 2015. She specializes in tax planning, preparation and consulting for individuals, businesses and non-profit organizations. She also specializes in state and federal campaign finance compliance consulting and reporting. Dupree is a member of the AICPA Council and of the FICPA Finance & Office Advisory Committee. She has served in each of the Tallahassee Chapter officer positions; as a member of the State Legislative Policy Committee; and as chair of the FSU Accounting Conference Committee. She is a trustee on the Leon High School Foundation Board of Trustees and treasurer for the Leon High School Lacrosse Boosters. She is a graduate of Leadership Tallahassee Class 29 and a former board member of the North Florida Chapter of the Children’s Home Society. She has served as finance chair for Holy Comforter Episcopal School. Dupree lives in Tallahassee with her son, Matthew. What motivates you to volunteer your time and talent on the Executive Committee, and how do you hope to help the FICPA through your service? Volunteering my time to an organization that works so hard to protect my license is important to me. Serving on the Executive Committee allows me to work with a team of other CPAs from throughout the state. Each of us has a unique perspective regarding the CPA profession and how the FICPA can best serve its members. I hope to help the FICPA by working with this team to make sure we continue to keep the “big picture” in mind with respect to how the organization may need to evolve and change as the needs of our membership evolve and change. I also hope to promote the value the FICPA brings to all Florida CPAs by protecting their licenses and I’ll continue to encourage all of them to become members. 6
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JOEY EPSTEIN, CPA, CGMA As a director of McGladrey LLP, Epstein is a CPA providing audit, tax and consulting advice. His other major priority with the firm is to provide business development services in South Florida. He has handled financial audits; income and sales-tax audits; and tax planning, including assistance with client exit strategies. He is certified in Florida sales and use tax and holds a Health and Life, including variable Annuity Insurance License from the State of Florida. Joey Epstein is FICPA chair-elect and a member of the AICPA Council. He serves on the Florida CPA/PAC Board of Trustees and is serving his eighth term on the FICPA Board of Governors. He has served on the FICPA State Legislative Policy Committee for over 20 years and has chaired it several times. Epstein is a Board Member of Bonnet House Museum & Gardens, Downtown Fort Lauderdale Transportation Management Association (Suntrolley), Broward Days, the Florida Association for Child Care Management and Rebuilding Together Broward. He also serves on the Finance/Audit Committee of the Florida Bar Foundation, the Executive Board of Legal Aid of Broward and the Ambassador’s Board of Nova Southeastern University. He previously has served on the Audit Committees of Broward Health and the Broward County School Board, among others. What motivates you to volunteer your time and talent on the Executive Committee, and how do you hope to help the FICPA through your service? I’ve been an active FICPA volunteer since I became a member in 1981 because I always believed in giving back, particularly to my chosen profession. I’m beginning my fifth year on the Executive Committee and really enjoy being part of the strategic-planning process. In addition, I
Abby Dupree
Joey Epstein
Gary Fracassi
Sarah Funk
Brad Gould
Paulette Holder
W.G. Spoor
Alan West
enjoy helping to shape the direction of the Institute over the upcoming years. I truly believe in the value of marketing what we offer as an association, and my Executive Committee service gives me an opportunity to work closely with others who share that approach. Together, I believe we can develop a path for progress, and I hope to help guide the FICPA along that path.
GARY FRACASSI, CPA Gary Fracassi started his career with a small local firm in Pennsylvania while still in school. He worked a full-time equivalent to satisfy the experience requirements for CPA licensure and brags he passed the exam in the first sitting. The local firm later merged with a large regional firm, where he served as manager of client accounting services. Later career opportunities included serving as controller for a chain of fast-food restaurants and an insurance agency group, and as director of IT for a large employee-benefits administration company. His current practice primarily focuses on tax and accounting/ controller services for new and emerging small businesses, as well as several non-profit groups. FLORIDA CPA TODAY
Fracassi is the current chair of the FICPA Finance & Office Advisory Committee and been honored as an FICPA outstanding discussion leader in the area of ethics. He has served as a chapter officer and regional representative, on the Board of Governors and on many committees. What motivates you to volunteer your time and talent on the Executive Committee, and how do you hope to help the FICPA through your service? My motivation comes from two primary points. First, early in my career I kept hearing the words “give back to the profession.” Just like I got my start, I’ve always hired student interns to give them some meaningful experience and exposure to the CPA world. In the bigger picture, the FICPA provides an excellent opportunity to give back to the profession. All the volunteers with whom I’ve served with have one characteristic in common – they’re passionate about our mission and the work we do to further the profession. To sum up the second point, I believe in the FICPA. Jokingly, I might write in my biography that I’m currently serving my 14th year of a life sentence with the FICPA. It’s not a joke – I take great pride in the past 14 years and look forward to a few more. ➡ www.ficpa.org
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SARAH FUNK, CPA, CGMA Sarah Funk is the director of compliance with Trilogy International Partners, LLC. Trilogy, a multinational company generating over $600 million in annual revenue with 2,000plus employees, has operations in South America, New Zealand and the Caribbean. Funk is responsible for corporate and international subsidies compliance and internal audit operations. She also has led initiatives in the areas of mergers and acquisitions; project management for software-implementation projects; Haiti earthquake rebuilding projects; and improving business operations. Funk is an AICPA member. She is a director of the Broward County Chapter and serves on the FICPA’s Women’s Leadership Committee and Membership Committee. She is actively involved with the FICPA Young CPAs and speaks at various student forums. She was an FICPA 26 Under 36 honoree in 2013 and 2015. What motivates you to volunteer your time and talent on the Executive Committee, and how do you hope to help the FICPA through your service? To me, it’s all about making a positive impact and connecting people. The FICPA ensures the vitality of the CPA designation. As a member in industry, the FICPA provides relevant resources and numerable options for future leaders to improve their leadership and people skills. I’ve enjoyed contributing to the success at the FICPA chapter and state levels. Through FICPA service, I hope to increase awareness about the Institute’s role in protecting the CPA designation and increase participation at the local, state and national levels.
BRAD GOULD, ESQ., CPA Brad Gould is a shareholder in the tax and estate and succession planning departments of the law firm of Dean, Mead, Minton & Zwemer in Fort Pierce. He practices in the areas of tax and business law, with an emphasis in planning for closely-held business, S corporations, reorganizations and tax controversies. He also advises clients on estate and succession planning, handling matters that involve transfer taxes, multigenerational business succession planning, and probate and trust litigation. Gould began his professional career with Deloitte and Touche in San Francisco. Gould earned his bachelor’s and master’s degrees in accounting in 1998, and his law degree in 2001, from 8
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the University of Florida (UF). He has served on the FICPA Board of Governors since 2012 and has served on the UF Accounting Conference Committee since 2004. Gould is a member of The Florida Bar and the American Bar Association, where he serves on the S Corporations Committee of the Tax Section and on the CLE Committee. He is a past chairman of Big Brothers Big Sisters of St. Lucie, Indian River and Okeechobee counties and helped found the Parent Academy of St. Lucie County. What motivates you to volunteer your time and talent on the Executive Committee, and how do you hope to help the FICPA through your service? Being part of a profession means more than just having a degree and a license. It means being part of a professional community and making meaningful contributions for the greater good and yourself. There are many tasks that need to be accomplished to move all of us forward, improving our profession together. Service on the Board of Governors and now, the Executive Committee, is a privilege that gives me the opportunity to help develop how the FICPA will progress in the rapidly changing business world we serve. My experience as a CPA in industry brings the FICPA a different perspective in its approach to issues the profession faces. It also diversifies our leadership to help ensure we consider all of our members’ needs.
PAULETTE HOLDER, CPA Paulette Holder is founder and managing shareholder of Holder & Company, CPAs, which was established in 1987 in Lutz. After working for an international accounting firm for six years, she began her own practice. Holder has experience in tax and in accounting and auditing services. Her clients are individuals, small businesses and not-for-profit organizations. She has served on and chaired several FICPA committees during the last 25 years and has served on the Board of Governors for four years. Holder has been married for 43 years and has two children and two grandchildren. She loves football and traveling. What motivates you to volunteer your time and talent on the Executive Committee, and how do you hope to help the FICPA through your service? The main thing that motivates me to serve on the Executive Committee is the need to give back and contribute to my profession. I have, during my 33-year career, been so fortunate to have individuals who were willing to give their time and assistance in helping me become a better professional. I hope I can inspire and assist other young
professionals in the same way. I’ve loved this profession since I started practicing and have always been proud of the CPA designation. I hope, through my involvement with the FICPA and AICPA, I’m contributing to maintaining the profession’s high standards. As a partner in a small firm, the friends I’ve made and the networking opportunities I’ve received through FICPA volunteerism have been invaluable.
W. G. SPOOR, CPA, CGMA W.G. Spoor joined the Spoor + Associates, PA team in 1997. He became a principal in 2007 and is responsible for the firm’s domestic and international individual and entity tax practices. Spoor specializes in helping clients with tax compliance and consulting issues. He has extensive experience with business acquisitions, succession planning, retirement planning and representation before the IRS and the Florida Department of Revenue. Spoor earned a master’s in accountancy from the University of South Florida and a bachelor’s in accounting from Florida State University. He is a Personal Financial Specialist, Registered Investment Advisor and QuickBooks ProAdvisor. He is an AICPA member and has served on the AICPA Uniform and Advisory Committee. He serves on the FICPA Board of Governors and has served on the FICPA’s Finance and Advisory Committee, Accounting Careers Committee, Nominations Committee, International Tax Committee and Young CPAs Committee. What motivates you to volunteer your time and talent on the Executive Committee, and how do you hope to help the FICPA through your service? I’m motivated to serve on the Executive Committee because of my dedication to my profession and the desire to protect and improve our professional designation as CPAs. As a member of the Committee, I have a direct influence on the future of our profession by promoting the value of our membership and advocating on behalf of other CPAs. I am honored to continue the mission established by many dedicated professionals who have served before me. Serving alongside other passionate and hard-working CPAs gives me assurance that our profession is in good hands, and that the FICPA will continue to thrive for many years to come.
FLORIDA CPA TODAY
ALAN WEST, CPA Alan West has been with the University of Florida (UF) since 2006. Currently, he is a senior associate controller and oversees the university’s treasury management and bursar functions. Previously, he was the controller for the UF Foundation. He is a member of the AICPA and of the FICPA Audit Committee. West worked in public accounting with James Moore and Company in Gainesville and has over seven years of public accounting experience throughout Florida. He earned two bachelor’s degrees from the University of South Florida and an MBA from Nova Southeastern University. He and his wife, Debra, have two children. What motivates you to volunteer your time and talent on the Executive Committee, and how do you hope to help the FICPA through your service? My motivation stems from recognizing that when we come together as a group, through collaboration, we can have a positive impact on the way the FICPA will look in the future. I hope we leave a blueprint for future volunteer leaders, and that they realize the ways in which we all benefit when the Executive Committee, Board of Governors and local chapters come together and share ideas.
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/Content/Members/Tools/Publications/ FCT/Archives. aspx. 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.
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Expanding the Classroom Walls
International study benefits the profession By Celina L. Jozsi, CPA, Ildiko Toth, CPA and William C. Quilliam, Ph.D., CPA, CGMA
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lorida business leaders are actively discussing ways to capitalize on international trade. In Polk County, the message to businesses at a local trade symposium recently was, “Go Big. Think Global.” 1 Government officials and corporate leaders in the Tampa Bay area have joined forces to promote the region as a “single market for international trade.” 2 Because a global economy is the new norm, CPAs with enhanced skill sets can benefit from additional opportunities. New CPAs can add value to their companies if they are equipped with solid technical knowledge beyond U.S. GAAP and tax laws, and with what an influential study by the Rand Corporation termed “crosscultural competence (the ability to work well in different cultures and with people of different backgrounds).” 3 For accounting students, international learning experiences can increase technical knowledge and foster critical thinking, communication and cultural competence that ultimately benefit the accounting profession.
Profession faces challenges of globalization Enterprise Florida, Florida’s principal economic development organization, reports that Florida’s unique combination of strategic location; state-of-the-
art infrastructure; and highly skilled and multilingual workforce make it an ideal location for international trade. 4 As small and mid-sized companies court international trade relationships, CPAs must be prepared to assist with complex and varied transactions impacting tax, cost, systems, auditing and financial reporting. Similarly, difficult issues can emerge related to foreign clients selling to U.S. customers or with repatriation strategies, as well as with foreign affiliate financial reporting. More CPAs will find opportunities and challenges in the international accounting arena. In addition to technical knowledge, business leaders and professionals also must possess global cultural competence. CPAs working with clients and/or colleagues from other countries must communicate effectively and understand each country’s business environment and cultural intricacies. International experiences providing cultural competence have become so important to the accounting profession the Big Four accounting firms actively promote overseas assignments. In many companies, international assignments facilitate senior leadership promotions. However, even organizations lacking formal overseas assignments can benefit from hiring professionals who already have gained valuable experiences through college coursework.
USF accounting students and Professor Celina Jozsi make a corporate visit to Roca Junyent, a major law firm in Madrid, Spain. 10 JULY/AUGUST 2015
Florida schools offer international experiences Most Florida universities offer studyabroad programs ranging from semesterlong exchanges, dual-degree programs and summer or short-term programs to international internships and service learning. Schools such as Florida Southern College believe international integrated experiences are so essential to providing a well-rounded education that trips are incorporated into the curriculum and tuition. Participating faculty incorporate enhanced knowledge in future courses and students gain transferable technical and cultural skills. At the University of South Florida (USF), Professor Celina Jozsi (front center) and USF accounting students visit one of the seven natural wonders of the world, Iguazu Falls, between Argentina and Brazil. one of the authors organized and led two study-abroad classes for accounting With a better understanding of technical complexities, students: one to South America and another to Europe. students impressed the presenters with informed The university took care students didn’t view these questions reflecting critical thinking skills. Even when trips as isolated experiences, but as an integral part of visiting cultural attractions and interacting with the local their accounting education. Before the trips, students population, students were encouraged to gain further researched business- and country-specific accounting insight into business practices. In their final papers, many practices. Professionals from Jabil, Citigroup, Big Four students provided testimonials indicating the trips were firms, Lincare, Raymond James and TECO also shared life-changing experiences. insightful perspectives and technical information. During the trips, students visited large enterprises such as Coca-Cola; Tech Data; MetLife, Phillip Morris; BBVA Bank; GeoPark; and Ingomar rubber factory. They also visited Big Four firms, BDO International, Iberaudit Kreston and Roca Junyent, a major law firm. Professionals and corporate executives gave interactive lectures on a range of topics, including: • business environment of the country • the country’s accounting and auditing practices • differences between U.S. GAAP, IFRS and local accounting standards • the country’s tax laws • hypothetical legal cases • specialized accounting for insurance and banking industries • business operations and performance evaluation across the corporate value chain • investment and outsourcing decisions • working effectively on cross-cultural teams The trips succeeded in expanding students’ awareness of tax, financial reporting, cost, auditing, technology and information systems issues in various countries. The trips also introduced students to global business issues such as economic, legal and political concerns; sustainability efforts; and how each country’s cultural and business practices impact external, internal and tax reporting. FLORIDA CPA TODAY
Learning abroad benefits accounting employers As students transition into practice, knowledge and experience they gained from study-abroad travel will transfer to the accounting profession. A study conducted among accounting students at Belmont University lends support to the effectiveness of focused, short-duration international accounting courses.5 Moreover, practitioners in the Tampa Bay area have said informally that students with study-abroad experiences demonstrate greater problem-solving and ➡
The tremendous financial support and contacts provided by the USF School of Accountancy Advisory Council further attests to the accounting profession’s perceived value of transferrable skills from study-abroad courses. This support enabled student scholarships, provided exceptional speakers before the trip and facilitated the planning of the international corporate visits. The many individuals and organizations – such as area CPA firms, law firms and corporations – that made these valuable, enriching experiences possible achieved a true winwin proposition for students, faculty and the accounting profession.
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communication skills, self-reliance and flexibility. Transferable skills benefit accounting employers with: • enhanced technical expertise • better understanding of clients, donors, foreign counterparts and colleagues • more effective cooperation in multi-ethnic settings and teams with greater adaptability • greater confidence in leading international projects • increased motivation to learn other languages The pressures of the global economy on the alreadycomplex accounting profession will intensify as more Florida companies pursue international markets or foreignowned companies enter U.S. markets. Technical knowledge will need to be coupled with cultural understanding so CPAs can emerge as leaders in the international arena. Entry-level accountants with international exposure will provide organizations with a competitive advantage and can become strategic leaders in the global marketplace. It is incumbent on educational institutions to provide accounting students with well-designed, well-executed international experiences and perspectives that lay the foundation for their development. FCT
Endnotes John Ceballos, “Go Big, Think Global: That’s the Message to Polk Businesses at a Trade Symposium,” The Ledger, April 23, 2015. 2 Josh Boatwright, “Leaders pitch Bay area as single market for international trade,” TBO.com, May 8, 2015. 3 New Challenges for International Leadership: Lessons from Organizations with Global Missions, RAND Corporation, 2003. 1
USF accounting students, along with Professor Celina Jozsi, make a corporate visit to Tech Data in Barcelona, Spain.
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“Florida businesses enjoy growth through international trade programs,” www.enterpriseflorida.com/news, January 14, 2015. 5 Taylor, Susan Lee and Finley, Jane. “Adding Value to the Masters of Accounting Curriculum through an International Accounting Experience,” Global Perspectives on Accounting Education, Volume 8, 2011, 47-66. 4
Celina Jozsi was recognized as the 2010 FICPA Outstanding Accounting Educator. In 2014, she joined the faculty of Florida Southern College upon retiring from the University of South Florida, where she was the Accounting Circle Teaching Fellow. Jozsi is a frequent CPE speaker for the FICPA and the Community Foundation. She is a past president of the Tampa Bay IMA; past Tampa Bay Hispanic Heritage Woman in Education; past president of USF Beta Gamma Sigma; and past faculty advisor of Beta Alpha Psi at USF. Ildiko Toth teaches financial reporting and accounting information systems at the University of South Florida, Sarasota-Manatee. She also has taught tax and served as the faculty liaison to the USF Accounting Circle and planned several very successful USF Accounting Circle CPE conferences. Toth currently serves as treasurer of the FICPA Gulf Coast Chapter. Will Quilliam is an associate professor of accounting at Florida Southern College. He holds a Ph.D. from the University of Florida and is a Florida CPA and CGMA. He serves on the FICPA Educational Foundation and previously served on the FICPA Board of Governors.
Benefit Corporations
Facilitating community improvement, simply
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lorida recently enacted benefit-corporation legislation1 to meet the changing relationship between citizens, communities, businesses and governments. Benefit corporations are gaining popularity because they provide a framework for corporations and employees to adopt general and/or specific community purposes and use employee volunteer and corporate resources to accomplish them. Benefit corporations provide an additional business tool for CPA clients who are interested in a “hands on� approach to improving their communities. These corporations have the ability to do more than just write a check to a charity, or ask employees to do so. Consequently, they’re becoming an import source of targeted community benefits without the burdensome regulations that often hamper foundations and public charities. Three primary factors distinguish a benefit corporation from a standard corporation: i) expanded protections to give directors comfort in making decisions that are not strictly profit maximizing; ii) one or more purposes,
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By Kevin Carmichael, MS, JD, LLM, CPA
in addition to those that primarily are profit oriented, to make a material positive impact on the community; and iii) a review, reporting and accountability procedure that is measured by an independent and transparent thirdparty standard. Part of the framework of the benefit corporation is reduced emphasis on the profit motive. The primacy of the profit motive as the overarching purpose of forprofit corporations has been a cornerstone of for-profit corporate governance and purposes for over 100 years. In our schools, we teach financial metrics designed to help managers pursue profitable, rather than unprofitable, activities. Federal, state and local governments have a vested interest in maintaining and manipulating the profit motive. Governments raise a significant amount of their operating revenue from those engaged in profitable trades or businesses in the corporate form.
Before benefit-corporation legislation, fear of shareholder lawsuits was an impediment to directors considering the simultaneous pursuit of community benefits and profits. Benefit-corporation legislation provides much greater protections to directors of businesses that seek to take on, in part, community benefits. However, profits still are extremely important. The ability to effectively carry out benefit-corporation operations without the continued infusion of capital depends on the corporation’s more profitable business segments carrying the communitybenefit segment. The expanded director protections provided in benefitcorporation legislation are twofold. First, a director is not personally liable for monetary damages to the corporation, or to any other person, if the corporation fails to pursue or create general public benefit or a specific public benefit. Second, a director does not have a duty to a person who is a beneficiary of the corporation’s general or specific public-benefit purposes unless so stated in the articles of incorporation. Forming a benefit corporation is relatively straight forward. To become a benefit corporation, the incorporator must state clearly in its articles of incorporation that the corporation is a benefit corporation. Existing corporations can elect benefit-corporation status by conversion or merger through a two-thirds minimum status vote of the shareholders. Shareholders who do not desire to be shareholders in a benefit corporation, or who object to any other aspect of the merger or conversion, are granted appraisal rights and the electing corporation must redeem their interest concurrent with the conversion
FLORIDA CPA TODAY
or merger. Opting out of benefit-corporation status also requires a two-thirds minimum status vote. As with opting in, dissenting shareholders have appraisal rights. In addition to the normal purposes a corporation may pursue under Florida law, a benefit corporation is required to identify one or more public benefits it intends to pursue. These public benefits may be general or specific. A general public benefit is described as a material, positive effect on society and the environment, taken as a whole, as assessed using a third-party standard that is attributable to a benefit corporation’s business and operations. A specific public benefit is described by a non-exclusive list of activities deemed to benefit communities. Benefit corporations must verify they are accomplishing their general public-benefit goals against a third-party standard that they select. The selected standard must be: 1) independent; 2) comprehensive; 3) credible; and 4) transparent. There are a number of organizations online that hold themselves out as Benefit corporation third-party standards providers. B Lab’s Benefit Corp Information Center, at www.benefitcorp. net, is an informative website. Benefit corporations may elect S or C status for tax purposes and can have complex or simple capital structures. Because of their community- ➡
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“Benefit corporations provide a business tool for CPA clients who are interested in a ‘hands on’ approach to improving their communities.”
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benefit purposes, alternative funding sources may be available. For example, benefit corporations may be able to pursue programrelated investment grants from private foundation grants if they qualify under the jeopardizing investment regulations. Further, non-shareholder contributions to capital exempt from income under Internal Revenue Code §118 also may be possible. Florida permits but does not require the use of a special director, called a benefit director. Benefit directors are granted a special set of additional director duties. Primarily, they involve measuring the accomplishments of the general and/or specific public benefits to which the benefit corporation subscribes in its governing documents. A benefit corporation’s annual report must provide a minimum specific narrative by
statute, as well as any other information the corporation deems relevant. The report must be prepared and sent to the corporation’s shareholders within 120 days after the corporation’s fiscal year. If the corporation has a website, the annual report must be posted there for three years. The annual report requires the benefit director to provide several opinions to the shareholders, including: 1) whether the benefit corporation, in all material respects, acted in accordance with the general and/ or specific public purposes listed in the governing documents; and 2) whether the directors and officers were faithful to the accomplishment of the public purposes in their operations of the corporation, and in their relationship with the community. In the absence of a specific benefit director, the board would be charged with preparing the annual report and providing the opinions.
Once benefit-corporation status has been elected, it is enforceable only by the corporation’s directors or shareholders. Failure to provide or produce a general or specific benefit, annunciated in the articles of incorporation or bylaws, is directly enforceable only by the corporation and derivatively by i) a director or directors; ii) a 5 percent or more individual or group of shareholders; or iii) a person designated in the articles or bylaws (e.g. a benefit director). FCT
Endnote Citations for all technical content contained herein are to Fla. Stat. §§ 607.601 et. seq. 1
FLORIDA CPA TODAY
Kevin Carmichael, MS, JD, LLM, CPA has been a member of the FICPA for over 25 years and began his accounting career with Ernst and Young in Miami. He has served a member and sometimes chairman of the FGCU Accounting and Tax Conference for the past 15 years. He was an at-large member of the FICPA Board of Governors in 2008. He taught business law as an adjunct professor from 2003 to 2009 at Florida Gulf Coast University, and has taught tax law as an adjunct professor at Ave Maria Law School since 2012. He presently practices business and tax law at Salvatori, Wood, Buckel, Carmichael and Lottes in Naples.
www.ficpa.org
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Mega Thanks & Mega CPE Conference At Walt Disney WorldÂŽ Resort June 10-13, 2015
Platinum Sponsors Aon Insurance Services CNA Insurance Member Benefits
Event Sponsors ADP American Express Hill, Ward, Henderson ACSIA Partners Akins Professional Brokerage, Inc. CenterState Bank of Florida, NA Florida Capital Bank Global Insurance Services Liberty Mutual Insurance Office Tools Thomson Reuters Trugman Valuation Associates USA Payroll
#MegaCPE 18 JULY/AUGUST 2015
Closing Credits Save the Date 2016 Mega CPE Conference June 8-11, 2016
New Location! Gaylord Palms Resort & Convention Center Kissimmee, Florida
www.ficpa.org/MegaCPE FLORIDA CPA TODAY
www.ficpa.org
19
COVER
story
Mia Thomas
Living Passionately, Giving Generously as Board Chair By Suellen Wilkins, Florida CPA Today editor
F
rom the time she was a teenager, Mia Thomas knew she wanted to become a CPA.
“Growing up there were three CPAs who lived on my street,” she said. “When I was 13, I had the opportunity to job shadow one of them. I liked the financial aspect of accounting
and was intrigued that there weren’t many women in the profession at the time. From that point on I knew I wanted to be a CPA. And that experience is one of the reasons I’m passionate about sharing our profession with young people.” Thomas earned her accounting degree at the University of Central Florida (UCF) in 1984, then worked as a principal with a national CPA firm for several years. She recently celebrated the fifth anniversary of her Orlando firm, Mia A. Thomas, CPA, which she founded in 2010. “Working in public accounting has given me a life lesson on the many opportunities of entrepreneurship,” she said. “It’s wonderful to work with a company to see it develop and grow into a successful business, and to know that I was able to help with that process, not only as an accountant but also as an advisor. “I love that accounting is the recording of history, she said. “With that knowledge, we can help guide the future.”
Connecting in work and life A native of New York, N.Y., Thomas has lived in Orlando since she was 4 years old. She credits her family for having inspired her commitment to volunteerism. “My husband and my parents love our country and have been or are dedicated volunteers,” Thomas said. “My parents were scout leaders and my mom was a PTA president. Like my husband, my dad served in the U.S. Army. My dad was one of the first community members of our City police review board and one of the first presidents of our community Chinese American Association. Thomas visits with a young Kenyan woman and her baby who are part of the Panua Partners in Hope program. 20 JULY/AUGUST 2015
“I have a personal mission statement: live passionately – give generously,” she said.
Photo by: wet orange studio
“FICPA volunteerism has been a great way to become engaged with others, professionally and personally. I’ve been able to use my best gifts – time, talent and treasure – with the FICPA.” Thomas and her husband, Steve, have been married for 17 years. He is a colonel in the U.S Army and retired this year after 30 years of service. He is a sales manager for a U.K. food importer, and he coaches and umpires little league baseball. The Thomases have three children – Samantha, 25; Andrew, 15; and Jonathan, 14. Samantha has a doctoral fellowship at UCF and is pursuing a Ph.D. in environmental engineering. She’ll graduate next year and marry her fiancé, Nick Black. Andrew, a high-school sophomore, loves baseball and plays the piano, trumpet and drums. Jonathan, who’s in the eighth grade, is passionate about acting and performing at the Repertory Theatre. He also plays the piano, guitar and violin, and he plans to become a CPA. Thomas enjoys spending time with family and watching her sons’ games and performances. With an eye for photography and videography, she often is behind a camera lens. She loves crafting, including painting and making jewelry, and plays the piano and flute. She’s a teacher for her church’s youth program and enjoys taking short cruises and beach vacations. Thomas is a missionary and has made two trips to Naivasha, Kenya with Panua Partners in Hope. She serves as Board treasurer of the organization, which helps orphans and vulnerable children, training them for vocations and teaching them about health and wellness. “They have no parents and support their siblings, and often times other relatives,” she said. We let them know they are loved and have hope for their future. It brings my heart joy to see their eyes go from despair to hope when visiting with them.” Thomas said her family has always been supportive of her career, as well as her professional and personal volunteer activities.
Thomas meets some of the youth who attended Panua Day in Naivasha, Kenya.
“I’m blessed to have my own firm, so that’s given me the flexibility to set my schedule and run a successful practice,” she said. “No one is perfect and as long as I keep that in perspective, I’m able to keep things in check.”
She belongs to the FICPA’s Central Florida Chapter and, during her 22 years of membership, has served on numerous committees at the state and chapter levels.
Organizational relevance: meeting needs is key
She said the thing she’s enjoyed most about serving in FICPA leadership is the people she’s come to know.
Thomas is active with the FICPA CPA/Political Action Committee (PAC), serving as Central PAC chair, and a trustee emeritus of the FICPA Educational Foundation. FLORIDA CPA TODAY
“I’ve met so many wonderful people whom I probably never would have met otherwise,” she said. “The most ➡ www.ficpa.org
21
COVER
story
difficult thing is having to make decisions that don’t make everyone happy.” Thomas believes the biggest benefits of FICPA membership lie in the many opportunities for members to work in partnership with their colleagues. She says the Institute’s most important challenge is to remain relevant and grow its membership.
Pictured left to right: AICPA Board Chair Tim Christen; FICPA Board Chair Mia Thomas; FICPA President/CEO Deborah Curry; and AICPA President and CEO Barry Melancon attend the AICPA’s 2014 Fall Council meeting in Boston.
Photo by: wet orange studio
“FICPA membership allows members to collaborate with other CPAs and gain information about technical, behavioral and subject matters. We’re a great resource,” she said. “But statistics indicate that our membership numbers have declined. It’s our goal to reverse that trend and grow our organization. For CPAs to want to join or renew their membership, we must continue to evolve and meet their needs. Florida CPAs who aren’t FICPA members need to know what they’re missing.” FCT
The Thomases (left to right) – Andrew, Mia, Jonathan, Steve and Samantha – enjoy a day at their home in Orlando with their golden doodles, Holly (top) and Bailey. 22 JULY/AUGUST 2015
Florida Implements New CPE Requirements By Chevonne Christian, senior attorney, DBPR, division of certified public accounting
I
n the November/December 2014 issue of Florida CPA Today, FICPA President/CEO Deborah Curry discussed Section 473.312, Florida Statutes (2014), explaining the continuing professional education (CPE) requirements. The statute requires submission of satisfactory proof to the Florida Board of Accountancy (BOA) that during the two years prior to application for renewal, the [licensee] successfully has completed not less than 48 or more than 80 hours of CPE programs in BOA-approved publicaccounting subjects. Of the required 80 continuing education hours, at least 25 percent must be in accounting- or audit-related subjects, with no more than 20 hours of behavioral education and a minimum of four hours of BOA-approved ethics. The balance may be obtained in technical business.
CPE requirements remain significant Recently there has been engaging discourse about the necessity of the 20-hour accounting and auditing CPE requirement for Florida CPAs. This conversation has led to some healthy debate. However, there is little disagreement that overall, required continuing education has a far-reaching impact on the integrity, competence and esteem of the CPA profession. In this exceedingly technological age, the CPA industry is evolving. Continuing education is integral for CPAs to remain current and at the forefront of prevailing developments, techniques and technologies in the field. CPE is an ongoing process and likely will continue to be part of our lives throughout our careers. After all, the inevitable product of efficacious continuing professional
Rule 61H1-36.004(2)(bb), Florida Administrative Code NUMBER OF HOURS LACKING 1 to 16 hours
17 to 80 hours
FIRST OFFENSE MINIMUM: $500 fine, makeup missing hours plus 20 additional penalty hours, in same category as those missed, if missing hours are ethics, penalty hours would consist of accounting/auditing, within 90 days of final order, must submit proof of compliance for next two renewal periods MIN: $1,000 fine, makeup missing hours plus additional penalty hours equal to the number of those missed, within same category as those missed, suspension until all hours are completed, must submit proof of compliance for next two renewal periods
MAXIMUM: $1,000 fine, makeup missing hours plus 20 additional penalty hours, in same category as those missed, if missing hours are ethics, penalty hours would consist of accounting/auditing, within 90 days of final order, must submit proof of compliance for next two renewal periods MAX: $2,000 fine, makeup missing hours plus additional penalty hours equal to the number of those missed, within same category as those missed, suspension until all hours are completed, must submit proof of compliance for next two renewal periods
SECOND OFFENSE 1 to 16 hours
17 to 80 hours
24 JULY/AUGUST 2015
MIN: $500 fine, makeup missing hours plus 20 additional penalty hours, in same category as those missed, if missing hours are ethics, penalty hours would consist of accounting/ auditing, suspension until all hours are completed, must submit proof of compliance for next two renewal periods MIN: $2,000 fine, makeup missing hours plus additional penalty hours equal to the number of those missed, within same category as those missed, suspension until all hours are completed, must submit proof of compliance for next two renewal periods
MAX: $1,000 fine, makeup missing hours plus 20 additional penalty hours, in same category as those missed, if missing hours are ethics, penalty hours would consist of accounting/auditing, suspension until all hours are completed, must submit proof of compliance for next two renewal periods MAX: $2,500 fine, makeup missing hours plus additional penalty hours equal to the number of those missed, within same category as those missed, suspension until all hours are completed, must submit proof of compliance for next two renewal periods
Check Out CPE Tracker The FICPA’s CPE Tracker, a free member service, automatically records credit hours earned for FICPA CPE courses. Members also may add credits from nonFICPA courses. Check it out! Visit www.ficpa.org/ CPETracker.
advancement is that it not only safeguards the public, the employer and the profession, but also advances the individual CPA’s career. Here are some of the reasons CPE continues to be vital:1 • It ensures that CPAs’ level of proficiency remains relevant and current, and that they are • It assists in CPAs’ capacity to become leaders, coaches and mentors by making continuing, meaningful contributions to their teams, sharing their advanced knowledge and cutting-edge skill sets with others. • It helps provide CPAs with a deeper appreciation for being professionals, and for the broader implications of their work. • It develops CPAs’ expertise, which leads to increased public confidence in them and in the profession.
Non-compliance can result in audits The BOA has instituted a CPE audit program. Audits are conducted by the Florida Bureau of Education and FLORIDA CPA TODAY
Testing, which selects a random sample of less than 10 percent of licensees from throughout the state. All Florida-licensed CPAs who have renewed their licenses in an active status are subject to a CPE audit. Selected participants are asked to provide proof of compliance with the statutory CPE requirements for the most recent re-establishment period, prior to their license renewal. Notably, with growing frequency, licensees are failing either to submit satisfactory proof of CPE compliance, or to respond to the audit request at all. For example, if a selected licensee submits proof substantiating only 15 hours of continuing education and asserts that he or she completed the remaining hours but misplaced the proof, this would be insufficient. If a licensee fails to submit proof of all required CPE hours, there is no way to verify he or she completed those hours. Therefore, the licensee would be deemed deficient in CPE requirements for that re-establishment period. ➡ Pg. 27 www.ficpa.org
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C PA s I N
the spotlight
Transitions
Alejandro Alvarez
Colleen Bankuty
Boca Raton: The Fuoco Group announces the merger of MCG Financial Services, Approved Accounting Associates and NHC Hospitality Consultants and announces a strategic partnership with Hewins Financial Advisors, LLC to launch The Fuoco Group (TFG) Financial Advisory. Daytona Beach: James Moore announces that Mike Sibley was appointed as the partner-in-charge of the firm’s Daytona Beach office. Miami: E.F. Alvarez & Company PA announces that Alicia Castillo, Keungling Lee and Alejandro Alvarez have been promoted to partners.
Alicia Castillo
Leslea Ellis
Miami: Kabat, Schertzer, De La Torre, Taraboulos and Company announces it has hired Caridad “Carey” Vasallo as manager of its forensic and business valuation practice. Orlando: Moore Stephens Lovelace announces that Daniel J. O’Keefe has been named shareholder-incharge of the firm’s Orlando office.
Caballero & Fierman LLP, were appointed to the United Way of Miami-Dade Audit Committee.
Keungling Lee
Cross, Fernandez & Riley LLP (C/F/R) announces that it is a founding sponsor of the new Women’s Business Center, weVENTURE. The sponsorship is part of C/F/R’s ongoing WHO (Women Having Opportunities) Initiative. Leslea Ellis LLC in Fort Myers announces its two-year anniversary of service to the community.
Daniel J. O’Keefe
Who’s News Berkowitz Pollack Brant Advisors and Accountants in Miami was ranked by Accounting Today to the annual listing of top 100 firms in the U.S., based on revenue size. Kerkering, Barberio & Co. in Sarasota is pleased to announce that Colleen Bankuty was awarded “Outstanding Graduate” for the spring 2015 semester by the University of South Florida Sarasota-Manatee. Also, Janine Colpitts and Mary Garcia have passed the exam to obtain the CPA designation. Nestor Caballero and Andrew Fierman, partners at Alberni
Frank Gonzalez of MBAF in Miami was elected to the 20152016 Executive Committee of the Orange Bowl and will serve as its treasurer. Craig R. Hersch authored his second estate planning book, “Legal Matters When a Love One Dies.” Michael P. Merkel of LaRosa & Co. LLC in Indianapolis was recognized as the 2015 Outstanding CPA in Public Practice by the Indiana CPA Society at its 100th Anniversary CPA Celebration in May 2015. Mike Sibley of James Moore in Daytona Beach has been selected as one of the Daytona Beach News Journal’s 40 Under 40 for 2015. Skoda Minotti in Tampa has been named one of the Best Places to Work by the Tampa Bay Business Journal. FCT
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 CPAs in the Spotlight can be emailed to communications@ ficpa.org.
26 JULY/AUGUST 2015
➡ Continued from Pg. 25
A CPE deficiency is a statutory violation. If a licensee is discovered to have a CPE deficiency, an administrative complaint, which becomes public, likely will be filed against their licensee. Additional ramifications can occur when a licensee has a CPE deficiency but renews his or her license, certifying he or she has completed the required CPE hours for the re-establishment period (as required for online license renewal). This generally results in BOA discipline.
a mere assertion of completion as commensurate with an admission of failure to complete the required CPE hours. Hopefully, with growing cognizance about CPE requirements and audits, as well as the significance of CPE, there will be increased compliance throughout the state. Here are five simple steps to meeting CPE requirements:1 • Review the CPA requirements in Section 473.312, Florida Statutes (2014). • Consider long-term professional goals in deciding what types of courses are most advantageous. • Do research to determine the right provider. • Maintain proof of CPE hours. • Spread your CPE out, rather than spreading yourself thin. In other words, try not to wait until the month of your renewal to complete your required hours. This easily could result in failing to complete the required number or type of hours.
Florida institutes new disciplinary guidelines As of May 6, 2015, new disciplinary guidelines are in effect in Florida for failing to complete the statutorily required CPE hours during a licensee’s re-establishment period. The new guidelines were implemented, at least in part, in response to the increasing number of Floridalicensed CPAs who have been found in non-compliance with the requirements. In many respects, the disciplinary guidelines can be viewed as a more stringent effort to deter Florida CPAs from disregarding or neglecting their obligation to comply.
Consider these five things when choosing CPE: 2 1) Are you a minimum or maximum learner? o Decide if you want to maintain your credentials with less effort and expense, or develop specialized competencies or an understanding with a more comprehensive learning program. 2) Reputation of the presenter and provider o CPAs should trust the trainer’s knowledge of the subject matter and the credibility and consistency of the trainer’s company. 3) Value and pricing o Subscription packages, for example, tend to be more cost effective than choosing one course at a time and/or using multiple vendors. 4) Depth of course information o Some CPAs prefer a provider who links their course materials to a database of other relevant research content. 5) Benefits of CPE management tools o A few CPE vendors provide a portal or home page displaying courses in which the CPA is enrolled or has completed, as well as licenses needed and the state requirements. FCT
The BOA has expressed considerable concern about some licensees’ perceived lack of seriousness regarding the CPE requirements. The BOA consistently endeavors to ensure that CPAs appreciate the importance of the requirements. Pursuant to Rule 61H1-36.004(2)(bb) of the Florida Administrative Code, the discipline for failing to comply with the CPE requirements generally includes a monetary penalty; the completion of makeup CPE hours; the completion of penalty CPE hours; and compliance with the CPE requirements for the next two re-establishment periods (see the chart on page 24).
Responding to, complying with audits If you receive a CPE audit letter, comply with the audit and submit the requested documents. An audit letter is not worth circumventing. You likely expended far greater effort to earn your license. Why not exert appreciably less effort to maintain it? One of the most prevalent issues regarding CPE requirements is providing proof of CPE completion. As discussed earlier, a licensee’s assertion that he or she completed the required CPE hours is insufficient. Pursuant to Rule 61H1-33.003(6), F.A.C., licensees shall retain proof of completed CPE through the two years following a two-year re-establishment period. The BOA will perceive FLORIDA CPA TODAY
For more information about CPE requirements or audits, or to obtain an approved CPE reporting form, visit www. myfloridalicense.com/dbpr/cpa/renew.html or call the Division of Certified Public Accounting at (850) 487-1395.
Endnotes 1
http://continuingprofessionaldevelopment.org/ http://www.accountingweb.com/
2-3
www.ficpa.org
27
The Annual Accounting Show See What’s in Your Future with Our Keynotes You don’t know where you’re going until you know where you’ve been. Join Jennifer Green, owner of Liberty Partners lobbying firm, Tallahassee, and former FICPA Deputy Executive Director, as she shares insight into the changing CPA profession and the national trends that are shaping its future. Is America’s debt on an unsustainable path? Who is going to fix it and how? Think you have the answers? Explore the social, economic and political perspectives of this controversial issue with a key representative of the Campaign to Fix the Debt, a nonpartisan campaign to put America on a recovering fiscal path.
30th Sept. 16-18, 2015
Broward County Convention Center Ft. Lauderdale, Florida
#AnnualShowFICPA
New Tracks. New Speakers. New Partners. Join Us. Talking with You – Not at You Interactive Workshop
Think you have the answer to America’s debt crisis? Join representatives from the Concord Coalition as they take your team through a hands-on, decision-making workshop that will reveal the implications of each solution.
Conference i/o Let your opinion be known! Select sessions will feature Conference i/o, an interactive system for speakers to get your input.
Expanded Tax & Financial Planning CPE Tracks Your favorite tax & financial planning presenters are now at The Annual Accounting Show! Visit our website to learn more about these expanded tracks.
Welcome, Cuban American CPA Association! The FICPA’s 30th Annual Accounting Show is endorsed by:
www.ficpa.org/AnnualShow
Board of Accountancy Identifies Top 10 Violations
F
rom Florida Board of Accountancy reports, here are the 10 most common regulatory violations brought before the Board.
2. Incompetency – 473.323(1)(g), F.S.: Committing an act of fraud or deceit, or of negligence, incompetency or misconduct, in the practice of public accounting.
1. Failure to report address change – 61H1-26.005, F.A.C.: (1) All Florida CPAs are required to have their correct street address on file with the Board office as their address of record. A post office box may be used for a mailing address, but it must be in addition to the address of record. (2) Any time a Florida CPA changes his/her address of record or mailing address, he/she must notify the Board office in writing within 30 days.
3. Failure to complete CPE – 61H1-33.003(1)(a), F.A.C.: In any given reestablishment period, each current/ active Florida CPA must have completed at any time or times during the two-year period, at least 80 hours of educational instruction or training in public accounting subjects or courses of study, as defined hereinafter, of which at least 20 hours must have been in accounting-related and/or auditing-related subjects, and of which no more than 20 hours may be in behavioral subjects, and at least four hours shall be in Florida Board-approved ethics.
FICPA CPE Resources Ethics: Protecting the Integrity of Florida CPAs Seminars – July 25 at the Summer Vacation Cluster; Nov. 3 and 10; Dec. 9 and 10; Jan. 12 Webcast Replays – Oct. 22 and Nov. 11 For more information or to register, visit www.ficpa.org/CPE. 30 JULY/AUGUST 2015
4. Failure to self-report – 455.227 (1)(t), F.S.): Failing to report in writing to the board or, if there is no board, to the department within 30 days after the licensee is convicted or found guilty of, or entered
a plea of nolo contendere or guilty to, regardless of adjudication, a crime in any jurisdiction. A licensee must report a conviction, finding of guilt, plea or adjudication entered before the effective date of this paragraph within 30 days after the effective date of this paragraph. 5. Discipline in another state – 473.323(1)(n), F.S.: Having the same or equivalent practice privileges of a Florida CPA or firm revoked, suspended or otherwise acted against by the licensing authority of another state, territory or country as a result of activity in that jurisdiction which would have subjected the Florida CPA or firm to discipline in this state. 6. Failing to maintain good moral character – 473.323(1) (l): Failing to maintain a good moral character as provided in s. 473.308 while applying for licensure, or while licensed in this state or using practice privileges pursuant to s. 473.3141. 7. Licensee with unlicensed CPA firm – 455.227(1) (j), F.S.: Aiding, assisting, procuring, employing or advising any unlicensed person or entity to practice a profession contrary to this chapter, the chapter regulating the profession, or the rules of the department or the board.
for work done by the CPA. (b) Any accounting or other records that the CPA was not specifically engaged to prepare that are related to an issued work product of the CPA and that are not in the client’s books and records or are otherwise not available to the client, with the result that the client’s financial information is complete. (c) A copy of any deliverable as set forth in the terms of the engagement that has been issued by the CPA. FCT
More information General information – www.ficpa.org/ga/flboa Board of Accountancy rule changes – www.ficpa.org/ga/BOARules Division of Certified Public Accounting website – www.myfloridalicense.com/dbpr/ Florida Board of Accountancy – (850) 487-1395
8. CPA firms – 473.323(1)(i), F.S: Practicing on a revoked, suspended, inactive or delinquent license. 9. CPA firms, failure to renew – 473.3101)(3), F.S.: Each license must be renewed every two years. Each sole proprietor, partnership, corporation, limited liability company, or any other firm licensed under this section must notify the department within one month after any change in the information contained in the application on which its license is based. 10. Failure to return records – Rule 61H1-23.002(1), F.A.C.: A CPA shall furnish to a client or former client upon request and reasonable notice: (a) Any accounting or other records belonging to, or obtained from or on behalf of, the client that were provided to the CPA; the CPA may make and retain copies of such documents of the client when they form the basis FLORIDA CPA TODAY
www.ficpa.org
31
STAFF
reports
Educational Foundation By Jason Zaborske, FICPA educational foundation development director and Elise Caruthers, event coordinator
Jeans for Scholarships
Raise money for accounting students, have fun and look great!
I
t seems like casual Fridays at the office can’t come soon enough – so ditch the ties and heels and bring on the jeans! By hosting a Jeans for Scholarships event, your casual Friday makes a huge impact. Everyone in the office can donate $5 or $10 and wear their most comfortable jeans. Consider doubling your contribution by having your company match your total. A Jeans for Scholarships day can be whatever you make it! Have a themed potluck lunch or an end-of-the-week office party. All funds support the FICPA Educational Foundation General Scholarship Fund, which provides almost $120,000 each year to Florida accounting students. If you missed Jeans for Scholarships on May 15, sign up for the Oct. 23 event. Visit www.ficpa.org/jeans to check out the companies that
Glickstein Laval Carris, P.A. held a Jeans for Scholarships day in May at the firm’s office in Altamonte Springs.
signed up to be Scholarship Wranglers and see pictures from previous Jeans events. Last year’s campaign raised
over $3,000 – please sign up at www.ficpa.org/jeans and help us raise even more this year.
Feel good about wearing jeans and register your office today! FCT
New and Newly Certified Members The FICPA welcomes many new members throughout the year and congratulates those who recently have become certified. Visit www.ficpa.org/newmembers to meet our new members. Visit www.ficpa.org/newlycertified to congratulate our newly certified members.
32 JULY/AUGUST 2015
From FICPA staff reports
Foundation Thanks Suncoast Scramble Sponsors
T
he 2015 Suncoast Scramble Golf Tournament was held May 1 at East Lake Woodlands Country Club in Oldsmar. The Foundation thanks all the sponsors of the tournament.
Presenting PENSERVCO Seaside National Bank Chambers Financial Group Eagle FICPA Suncoast Chapter Birdie Plus Charles Rutenberg Realty
FLORIDA CPA TODAY
Birdie Aspire Financial Bank of Tampa Bay Cities Bank CBIZ MHM, LLC Chambers Financial Group Charity Works CliftonLarsonAllen LLP Florida Institute of CPAs Garcia & Ortiz, PA
ISA Solutions Oppenheimer Funds PDR Risk Avoidance Managers Robert Half Finance & Accounting USAmeriBank USA Payroll
FICPA Chapter West Coast Chapter
Drink Cart Sponsor
Hole in One Sponsor Keith L. Jones, CPA FCT
Heinkel Law Group
Hole Sponsor A-lign Fifth Third Bank MidFlorida Credit Union
www.ficpa.org
33
NEWS
briefs
Florida Firms Named Among Top 100
Stryker Receives Outstanding Educator Award
A
t the Mega CPE Conference in June, Dr. Judson Stryker received the FICPA Outstanding Educator Award. The award recognizes full-time college accounting educators who are distinguished for excellence in teaching, and for national prominence in the accounting Pictured left to right: AICPA Board Chair Tommye Barie, Dr. Judson Stryker, Mrs. Barbara Stryker profession.
ccounting Today recently announced its Top 100 Firms, including some from the Gulf Coast region (Alabama, Florida, Louisiana and Mississippi). The top Gulf Coast firms – with a total revenue of $816.56 million and an average firm growth of 5.8 percent – were: Averett Warmus Durkee
Jackson Thornton & Co.
Barfield, Murphy, Shank & Smith Kaufman Rossin Group
A
and 2014-15 FICPA Board Chair Jeff Barbacci.
Berkowitz Pollack Brant
LaPorte
Carr, Riggs, Ingram
The LBA Group
Cross, Fernandez & Riley
MBAF CPAs
Daszkal Bolton
Moore Stephens Lovelace
Gerson Preston Robinson & Co.
Postlethwaite & Netterville
Goldstein Schechter Koch
SRHW
Heard, McElroy & Vestal
Warren Averett
FCT
Horne Visit www.ficpa.org/AccountingTodayTop100 to view the complete report.
Stryker has taught accounting Barie and Barbacci presented Dr. Stryker with and taxation at both Embry the Outstanding Educator Award. Riddle Aeronautical University and Stetson University for 41 years. He is nine-year chair of the M.E. Rinker, Sr. Institute of Tax and Accountancy and has served as associate dean of the school of business administration and vice president of finance for Stetson. “Accounting educators are the backbone of our profession. They inspire, educate and set the ethical bar for future CPAs,” said FICPA President/CEO Deborah Curry, CPA, CGMA. “Dr. Stryker has been a role model for thousands of undergraduate and graduate students. He is an effective administrator, conscientious mentor and caring teacher who is committed to preparing his students for their professional careers as CPAs. Dr. Stryker embodies the spirit we recognize with this award.” FCT
FICPA
OFFICIAL NOTICE In compliance with Article XI, Section 6 of the FICPA Bylaws, be it known that a regular meeting of the Board of Governors of the Florida Institute of Certified Public Accountants will be held at 9:00 a.m., on Wednesday, July 8, 2015, at Tampa Airport Marriott, Tampa, Florida. 34 JULY/AUGUST 2015
Gov. Scott Names Spottswood to Healthcare Commission
G
ov. Rick Scott recently appointed nine Floridians to serve on the newly formed Commission on Healthcare and Hospital Funding. The Governor signed Executive Order Robert Spottswood, CPA 15-99 creating the Commission and tasking it to investigate the role of taxpayer funding for hospitals, insurers and health care providers.
Brosche Elected to Jacksonville City Council
F
ICPA member Anna Brosche recently was elected an at-large member of the Jacksonville City Council. Brosche, a Republican, is a managing shareholder at Ennis Pellum & Associates, CPAs in Jacksonville. She won the election with 108,322 votes, defeating her opponent by almost 11 percentage points.
Anna Brosche, CPA
“We are excited and proud that another of our members has been elected to public office,” said FICPA President/CEO Deborah Curry, CPA, CGMA. “I’m confident that her CPA background will serve her tremendously in her new role, and we wish her much success.” FCT To read more about Brosche, visit http://voteAnnaBrosche.com.
FICPA Member Robert Spottswood, CPA, was among the appointees. Spottswood, also an attorney, is president of Spottswood Companies Inc. in Key West. FCT To read a Florida Trend article about the appointees, visit www.floridatrend.com/article/ 18478/gov-rick-scott-appoints-nine-to-thecommission-on-healthcare-and-hospital-funding.
O’Sullivan Appointed to University Board of Trustees
T
he Florida Board of Governors recently announced 20 appointments to university boards of trustees. The appointees include FICPA member Mort O’Sullivan, managing Mort O’Sullivan, CPA member of Warren Averett’s Gulf Coast Division, who was appointed to the University of West Florida Board of Trustees. “We congratulate Mort on his appointment to this extremely important board,” said FICPA President/CEO Deborah Curry, CPA, CGMA. “The performance of our state’s universities is key to ensuring students’ readiness to lead all professions, including the accounting profession.” FCT To read the full press release, visit www.flbog. edu/pressroom/news.php?id=568. FLORIDA CPA TODAY
www.ficpa.org
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MARKET
place
Positions available Kendall-area CPA firm is seeking to hire a tax manager(s) CPA w/ near-term partnership potential. The candidate(s) must have a strong tax background & personal skills. Compensation will be commensurate w/the candidate’s ability. Our firm has a good reputation & is wellestablished & profitable. Reply to reply@ficpa.org & reference file number R PA 07 08 15. Large Gainesville Radiology Group is looking for a degreed staff accountant w/Great Plains experience. Responsible for general ledger, reconciliations & most accounting functions. CPA or CPA candidate preferred. Recent graduate would be considered. Email resume to cframpton@doctorsimaginggroup. com. Retirement-minded S. Miami Dade County CPA seeks CPA for space sharing, merger & eventual buy-out of a tax preparation, small business & compilation practice. Respond to reply@ficpa.org & reference file number C PA 07 08 15. We are a small CPA firm in Fort Lauderdale, looking for a junior accountant w/0-3 yrs of experience & the desire to grow w/the company. Must have a bachelor’s degree w/a major in accounting. Working knowledge of Microsoft Word, Excel & Outlook is a must. Email resume to jessica@libermancpa.com. Delray/Boca Area. Experienced full-time cost accountant needed for construction division of longestablished company. The position is responsible for executing all matters related to accounting & cost functions. Salary commensurate w/ experience. Room for advancement & excellent benefits. Send resume to jhaccresume@gmail.com. Fiduciary accountant – immediate opening for full-time tax/trust accounting position w/AV-rated Boca Raton trusts & estates law firm.
CPA preferred. Position requires experience preparing fiduciary trust/ estate accountings, final 1040, 1041, 709 & 706. Experience w/Number Cruncher (or similar estate planning programs) & filing for government benefits helpful. Must be selfdirected & able to work closely w/ others in team-oriented, sometimes fast-paced setting. Competitive compensation & benefits package. Send resume w/cover letter to pm@ osbornepa.com. Carr, Riggs & Ingram, LLC, a fullservice, southeastern regional CPA firm, seeks senior & manager level experienced CPAs for auditing & tax areas. Audit positions are available in the Gainesville, Orlando, Palatka & St. Augustine offices & tax positions are available in the Gainesville office. Qualifications required – bachelor’s degree, licensed CPA & 3-5 yrs related experience. Resumes should be emailed to wbird@cricpa.com. Audit manager – Exciting opportunity for a qualified candidate w/ a CPA license to take over the audit department in Tallahassee. Experience w/ financial institutions a plus. Seeking individual to supervise audits & expand marketing efforts. Excellent compensation & benefits. Email resume to cpa@shrcpa.com. Tax manager – Established CPA firm in Tallahassee has opportunity for individual w/ 2-6 yrs of experience in tax & business consulting. Requirements 1) accounting degree 2) CPA or eligible 3) 2-6 yrs of public accounting experience. Excellent compensation, benefits & advancement opportunities. Email resume to cpa@shrcpa.com. Big firms CPAs looking for a change – small, well-established Aventuraarea CPA firm is seeking to hire a CPA w/a min of 3 yrs experience whose ultimate goal is to become a partner w/an enjoyable lifestyle. The candidate must have a strong accounting & tax background, w/excellent people skills. Our emphasis isn’t on an expensive
buyout in the future, but to set a plan in motion for everyone to succeed. Please email resume to st@aingruda.com. Miami – Tax senior, senior auditor, & entry-level accountants needed for our growing team at Ocariz, Garrastacho, Hevia. Individuals will work closely w/an array of clients on U.S. & international tax compliance. Full benefits; located in Coral Gables. Visit oghcpa.com/careers or email resume to lmonzon@oghcpa. com. Rapidly-growing Gulf Coast (Florida Panhandle) CPA firm seeking staff accountant w/3+ yrs of public accounting experience w/emphasis on tax, compilations & reviews. Must possess outstanding social skills & work ethic. CPA preferred but not required. Respond to reply@ ficpa.org & reference file number O PA 07 08 15. SW Florida retirement-minded CPA looking for qualified candidate to succeed to business. Min 7-10 yrs exp w/emphasis on estate, gift & income tax practice. Qualified resumes only – P.O. Box 07081, Fort Myers, FL 33919.
Positions Wanted Former revenue agent w/ IRS, MBA (financial valuations), CPA parts passed, public private mix, former CFO, available for consultations specific to potential fraud investigations, FBAR, FRPTA, general consultations & per diem. Respond by emailing reply@ficpa. org & reference file number A PSW 07 08 15.
Office Space Dadeland-area CPA has ofc & cubicles available for lease in CPA suite. Furnished, floor-toceiling windows, conference room, kitchen, telephone & other ofc equipment, filing cabinets & Internet access included. Free parking. Call (305) 661-1040 or email ronweintraubcpa@bellsouth.net.
For complete classified policies, visit www.ficpa.org/Content/CPAResources/ClassifiedsJobs/Classifieds.aspx. 36 JULY/AUGUST 2015
Well-established S. Broward CPA firm seeking to share office space in class “B+” building located near all major highways. Willing to relocate for the right situation. Email inquiries to ajcpapa@aol.com or call Cary at (954) 985-1040. Rapidly-growing Gulf Coast (Fla. Panhandle) CPA firm seeking staff accountant w/3+ yrs of public accounting experience w/emphasis on tax, compilations, & reviews. Must possess outstanding social skills & work ethic. CPA preferred but not required. Respond to reply@ ficpa.org & reference file number O PA 07 08 15.
Practices wanted for purchase or merger
Growing S. Florida CPA firm looking to purchase a practice from a retirement-minded CPA in Dade or Broward counties. Favorable purchase terms offered w/continuing employment opportunities available. Please contact Jeffrey Taraboulos at info@ ksdt-cpa.com or (305) 670-3370. Established, quality Fort Lauderdale CPA firm seeks to acquire practice from retirement-minded CPA w/ transition of your choice. Email inquiries to ajcpapa@aol.com or call Cary at (954) 985-1040. Daytona Beach CPA firm desires to acquire retirement-minded or other established practice in nearby area. Email inquiries to geoffs@ zestcpa.com.
Well-respected Boynton Beach wealth-management firm looking for CPA(s) for possible merger in an effort to better serve clients by offering comprehensive tax & financial planning. Reply to Ira@ Materetsky.com. Broward County (Margate) CPA firm seeking merger partner. Sole practitioner retiring in 3 yrs. 2014 collections $420K, 3 full-time staff. Own ofc in new business park, 2,000 sq. ft. Call (954) 701-1007 to inquire.
For sale
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 with a professional. Call David Akins, CPA, at (877) 2770272. Visit our website at www. ProfessionalCPAbroker.com.
Practices Wanted! Cash Buyers Waiting! List your practice with Florida’s No. 1 Accounting Brokerage Firm: Professional Accounting Sales. No upfront fees. No long term listing agreements. Recent references available. Selling practices in Florida for over 31 years. Available for sale include Palm Beach Gardens $650,000… Tampa Bay $1,500,000… St. Pete area $950,000… Southwest Broward $285,000… Port Charlotte $300,000… Pembroke Pines $165,000… Gainesville-Ocala area $650,000… Fort Lauderdale $1,250,000… Sebring area $160,000… many others! Contact Erwin Rosenblatt (561) 666-6737 or Leon Faris, CPA (800) 729-9031 w/ Professional Accounting Sales or visit our website at www.cpasales. com. Well-established Coral Gables firm w/a solid tax practice seeks partner/ merger for retirement-minded partner. Currently 2 partners & 4 staff. Reply to reply@ficpa.org and reference file number A FS 07 08 15. Established Boca Raton practice w/ annual revenue of approximately $200,000 seeks buyout w/retirement in mind. Email replies to reply@ ficpa.org & reference file number C FS 07 08 15.
Are you interested in selling your business clients? We are a 50-yearold CPA firm that prides itself on personal service to our clients. With the addition of the next generation to our team, we are interested in expanding our practice. Roy F. Glassberg – info@roygcpa.com; (561) 948-6549; www.roygcpa.com.
FLORIDA CPA TODAY
www.ficpa.org
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DOR
update
DOR Implements Training on Taxpayer Rights
T
By Renee Watters, chief of public information
he mission of the Florida Department of Revenue (DOR) is to be accessible, responsive and professional to customers; provide fair and effective tax and child-support administration; pursue innovation and improvement while reducing costs; protect confidential tax and child-support information; and improve voluntary compliance with tax and child-support laws. DOR uses several strategies, including training, to reinforce this mission with its employees. Recently, employees of the General Tax Administration Program and the offices of the executive director; general counsel; technical assistance and dispute resolution; and taxpayer rights advocate were required to complete online training on the Taxpayers’ Bill of Rights. The training was developed after an FICPA member suggested DOR should ensure that employees understand the rights afforded to taxpayers. The Taxpayers’ Bill of Rights is found in the Florida Constitution and reads, in part: “By general law the legislature shall prescribe and adopt a Taxpayer’s Bill of Rights that, in clear and concise language, sets forth
taxpayers’ rights and responsibilities and government’s responsibilities to deal fairly with taxpayers under the laws of this state.” Twenty-one rights are compiled in the statutory enactment by the Florida Legislature, including the right to assistance from a DOR taxpayer rights advocate. DOR’s taxpayer rights advocate is Patrick Loebig, who has served in the role for 11 years. The advocate’s duties and responsibilities include facilitating problem resolution concerning state-tax issues, between DOR and taxpayers and/or their respective representatives, without interfering with the normal administrative or legal protest processes. FCT For more information about the Taxpayers’ Bill of Rights or the role of the taxpayer rights advocate, see the Quick Links box at dor.myflorida.com, or email Patrick Loebig at loebigp@dor.state.fl.us. Are there topics you’d like the Department of Revenue to cover in DOR Update? Email suggestions to wilkinss@ficpa.org.
“The training was developed after an FICPA member suggested DOR should ensure that employees understand the rights afforded to taxpayers.” 38 JULY/AUGUST 2015
GOOD TO KNOW The Florida Institute of CPAs understands how important continuing professional education is toward your success as a Certified Public Accountant. To help you meet your professional development needs, the FICPA has brought together an outstanding collection of CPE programming designed to sharpen your skills, keep you informed of the latest developments and enhance your career. With hundreds of programs, the FICPA can help meet any CPE need: accounting & auditing updates, ethics, specialized topic conferences, governmental courses, the latest on taxation and much more! The FICPA is your one-stop shop for high-quality CPE courses in any format.
REGISTRATION INFORMATION Registration Prices Take advantage of Early Bird Prices by registering more than 30 days before the course date and receive $55 off the regular registration fee. Nonmembers of the FICPA are welcome to attend but are required to pay an additional $125 per day of instruction or $65 per half day of instruction. Four ways to register for FICPA CPE programs: • LOGON to www.ficpa.org/cpe. • FAX a completed registration form with your credit card information to the FICPA at (850) 681-2433. • CALL the FICPA Member Service Center at (800) 3423197 or (850) 224-2727 to place a credit card order. • MAIL a completed registration form with your credit card information or check made payable to the Florida Institute of CPAs to: Continuing Professional Education, FICPA, P.O. Box 5437, Tallahassee, FL 32314-5437.
The CPE Tracker The FICPA’s members-only CPE Tracker is a tool that allows you to track your CPE courses throughout your reporting period. FICPA courses taken will be automatically included in this Tracker. Courses taken from vendors other than the FICPA can be included in this online application. It is the user’s responsibility to ensure the Tracker’s accuracy.
Event Times Check-in begins 30 minutes before the program starts. Schedules for conferences and seminars may differ. Full Day Seminars 8:30 a.m-4:30 p.m. Half Day Seminars 8:30 a.m.-12 p.m. and 1-4:30 p.m.
Value-Priced Seminars Get exceptional value from these streamlined, high-quality courses that enable you to gain essential knowledge and skills at a lower price. These are our most popular courses taught by our best educators in modest facilities that are conveniently located around Florida. We may not serve you lunch, but we’ll serve you quality CPE and great value.
CPE Polices You May Need To Know CPE policies can be found on our website at www.ficpa.org/ CPEPolicies.aspx.
40 JULY/AUGUST 2015
Of Course!
SEMINARS Tampa Accounting and Auditing Forensic Accounting: Fraudulent Reporting and Concealed Assets Date: Aug. 11, 2015 CPE Credit: 8 AA • Course Number: FAFR00 Location: Holiday Inn Tampa Westshore Instructor: William I. Eskin Early Bird Price*: $280 • Regular Price: $335 Forensic accountants know all too well: there’s increasing pressure to accurately detect fraudulent financial reporting and preemptively redesign internal controls to prevent misappropriation of assets. The unique combination of recent economic news and events plus the endless spotlight of major business failures and scandals only perpetuate the forensic accountant’s responsibilities and due diligence. Recognizing fraudulent or deceptive practices is not always easy, but this course will sharpen your forensic skills with techniques to uncover fraudulent activities and help you to see them in their many guises.
Condos and HOAs: Advanced Accounting, Auditing and Other Issues Date: Aug. 14, 2015 CPE Credit: 8 AA • Course Number: CHAI05 Location: Holiday Inn Tampa Westshore Instructor: Cecil ‘Pat’ Patterson Early Bird Price*: $280 • Regular Price: $335 Examine and evaluate the most difficult and frequently-found accounting and auditing issues in Common Interest Realty Associations (CIRAs) for 2015. Issues covered are: SSARS 21 engagement letters, reporting, engagement administration and ethical issues for time-share, residential and commercial condominium associations. You will also discuss independence; Interpretation 101-3 for nonattest services performed for attest clients; when to capitalize assets; start-up situations; and transitions (turn-over) between developers and unit owners. Issues involving bad debts and budgeting in a recession period will be discussed. We’ll cover Florida-specific issues.
Not-for-Profit Accounting & Reporting: From Start to Finish Date: Aug. 19, 2015 CPE Credit: 8 AA • Course Number: NPAR00 Location: Hilton Graden Inn Tampa Airport Instructor: Jack Georger Early Bird Price*: $280 • Regular Price: $335 Rather than training to run part of the race, train to run the entire race from start to finish. This course trains you to clear key hurdles in not-for-profit accounting and reporting in an efficient and effective manner. Avoid the potholes of confusion and finish first by providing a financial picture that end users can truly understand.
Governmental and Not-forProfit Annual Update Date: Aug. 20, 2015 CPE Credit: 8 AA • Course Number: GNAU10 Location: Hilton Graden Inn Tampa Airport Instructor: Jill Gilbert Early Bird Price*: $199 • Regular Price: $254 Change is inevitable and at times overwhelming if you are unprepared. Ensure you are current in governmental and not-for-profit accounting and auditing. This update course is designed to prepare you for the latest accounting and auditing developments affecting governments and not-for-profits.
NEW!
Performing Single Audits in 2015 and Beyond Date: Aug. 21, 2015 CPE Credit: 8 AA • Course Number: PSAS05 Location: Hilton Graden Inn Tampa Airport Instructor: Michael Morgan Early Bird Price*: $290 • Regular Price: $345 This will be a very unusual year in the world of single auditing. Many engagements performed during 2015 will be performed in accordance with OMB Circular A-133. However, single audits for December 31, 2015, year ends will be performed in accordance with the new single audit requirements (i.e., the OMB’s Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards). The new single audit requirements will result in the biggest changes to the single audit process since 1997! This is an essential course for auditors performing single audits in 2015 as it will equip you with the knowledge needed to perform audits under both OMB Circular A-133 and the new single audit requirements.
•
= Seminar Days
Tax Social Security, Medicare and Prescription Drug Retirement Benefits: What Every Baby Boomer Needs to Know Now Date: Aug. 12, 2015 CPE Credit: 8 TB • Course Number: SSRB10 Location: Holiday Inn Tampa Westshore Instructor: Robert R. Thelen Early Bird Price*: $290 • Regular Price: $345 Social Security seems poised for changes in benefits and eligibility age. As the baby boomer generation approaches retirement, financial and tax planners can expect increased demand for strategies that dovetail Social Security with other retirement objectives. This course provides tax and financial planning professionals with both the background information on the Social Security system and the strategies clients will need in dealing with it.
Estate and Life Planning Issues for the Middle-Income Client Date: Aug. 13, 2015 CPE Credit: 8 TB • Course Number: PMIC00 Location: Holiday Inn Tampa Westshore Instructor: Robert R. Thelen Early Bird Price*: $290 • Regular Price: $345 Clients think that estate planning only applies to the very rich. In truth, there are many issues of critical concern for which the middle-income client needs to plan. This course is a must-attend for all CPAs who work with middle-income clients and are looking for ways to provide additional quality services.
NEW!
Analytics and Big Data for Accountants Date: Aug. 21, 2015 CPE Credit: 8 TB • Course Number: DAAN00 Location: Hilton Graden Inn Tampa Airport Instructor: James T. Lindell Early Bird Price*: $280 • Regular Price: $335 Analytics is the new force driving business. Tools have been created to measure program impacts and ROI; visualize data and business processes; and uncover the relationship between key performance indicators – many of which utilize the unprecedented amount of data now flowing into organizations. In this course, you will discuss leading-edge topics in analytics and finance in a session that is packed with useful tips and practical guidance that you can apply immediately.
= Value-Priced Seminars
To register, call 800.342.3197 or 850.224.2727, or visit ficpa.org/cpe.
www.ficpa.org
41
Learn on the move with Right Time. Right Place. Right Price.
Your busy schedule can make earning CPE credits difficult. The FICPA’s LearnLinx CPE is the only source you need for online courses. With hundreds of offerings, we have the topics and instructors you want, even on evenings and weekends. See the FICPA website for a complete listing of online courses. Check out these upcoming sessions!
Accounting and Auditing Credit Date Hours Code
Title
Jul-10
8 AA
4152284B
Statement of Cash Flows: Preparation and Analysis Workshop
Jul-13
8 AA
4152546B
Audit Standards Update: Clarity Standards Overview
Jul-14
8 AA
4151060B
Audit Standards Update: Clarifying Risk Assessment
Jul-15
2 AA
4153047A
Revenue: Private Companies
Jul-16
4 AA
4153046A
PCC Activities, Including Framework, ASU Updates, Simplification Initiative
Jul-20
8 AA
4152483B
Personal Financial Statements
Jul-21
8 AA
4151249B
Financial Statement Analysis
Jul-23
4 AA
4152867B
Practical Guide to Accounting Fraud Webcast
Jul-28
8 AA
4151447B
Stopping Fraud in Your Business
Jul-29 4 AA 4152882B
Cheap Stock Guide: Valuing Stock-Based Compensation for Privately Held Companies
Jul-30
16 AA
4152141C
Financial Accounting Standards: A Comprehensive Review
Aug-5
8 AA
4152875B
Financial Reporting: Your Guide to Reading Financial Reports
Aug-6
16 AA
4152144C
Auditing Standards: A Comprehensive Review
Aug-12
8 AA
4152785C
Documentation Requirements, Design and Reviewing Techniques of Workpapers
Aug-18
2 AA
INDRWBR2
Independence Rules and Interpretation 101-3
Aug-20
2 AA
SSARWBR2
Compilation and Review: A Look at SSARS 21
Aug-21
8 AA
4152344B
Accounting Fraud
Aug-24
8 AA
4152497C
FASB and AICPA Update: Practical Guidance
Aug-25
8 AA
4151010G
Accounting and Auditing Update
Aug-25
2 AA
4153058A
Loss Prevention Tips from an A&A Perspective: The Playbook
Aug-25
8 AA
4152500C
Tax Practitioner’s Guide to Accounting and Reporting Issues
Aug-26
4 AA
4152775B
Small-Business Financial Statements
Aug-28
4 AA
4152886B
Advanced Fraud Case Study: Part 1
Aug-28
4 AA
4152887B
Advanced Fraud Case Study: Part 2
Aug-28 8 AA 4152771B
HUD Audits of Multifamily Housing Projects: Audit Requirements Under the HUD Audit Guide and for Single Audits
Aug-31
The Facts: Budgeting, Planning & Forecasting
4 AA
42 JULY/AUGUST 2015
4153051B
Of Course!
Government/Not-for-Profit Credit Date Hours Code
Title
Jul-16
2 AA
ACFG02
Federal Awards: Changes under the Revised Uniform Grant Guidance
Jul-29
8 AA
ACGAAU01
Governmental Accounting and Auditing Update
Aug-13
2 AA
ACFG03
Federal Awards: Changes under the Revised Uniform Grant Guidance
Aug-13
8 AA
ACGAAU02
Governmental Accounting and Auditing Update
Aug-25
1 AA
A133WBR3
A133 Update from a Peer Review Perspective
Aug-27
8 AA
4152770C
Single Audits: A Case Study Approach
Leadership Development Credit Date Hours Code
Title
Jul-14
2 BEH
ACREC02
Resolving Ethical Conflicts
Jul-21
2 BEH
ACEP04
Evil Personified: Why do Ethical People do Unethical Things?
Jul-22
8 BEH
4151164B
Managing Successful Teams
Jul-22
2 BEH
4152920A
Using Email Effectively
Jul-23 4 TB 4152600D
Professional Conduct and Ethics Webcast: Anticipating and Preventing an Ethical Crisis
Jul-25
2 BEH
ACREC03
Resolving Ethical Conflicts
Aug-3
1 BEH
4152976A
Managing Your Time As If It Was Your Money
Aug-3
8 BEH
4152418B
Negotiate for Success: Psychology of Power Persuasion
Aug-5
2 BEH
4152974A
Goal Setting
Aug-6 4 TB 4152600E
Professional Conduct and Ethics Webcast: Anticipating and Preventing an Ethical Crisis
Aug-10
Leadership: The Good, the Bad and the Ugly
2 TB
4152912A
Aug-11 4 TB 4152963B
Preserving Independence and Otherwise Complying with the New AICPA Code of Professional Conduct
Aug-13 Aug-31
Career Coaching Millennials Path to the C Suite
2 TB 4 BEH
4152975A 4153050B
Management/Consulting Credit Date Hours Code
Title
Jul-16
Business Succession Planning and Exit Strategies
8 TB
4151450B
Jul-22 2 TB 4153057A
High-Duty Engagements: Rules, Risks and Tools for Business Management, Family Office, Closely-Held Businesses
Jul-23
8 TB
4152687B
Building a CPA Practice
Jul-24
8 TB
4152684B
Business Plans That Work
Jul-27
8 TB
4152678B
Stocks, Bonds and Mutual Funds: A Comprehensive Guide to Successful Investing
Jul-30
8 TB
4151112B
Investment Planning: Developing Client-Centered, Long-Term, Financial Strategies
Jul-31
4 TB
4152552C
Top 10 AMT Causes and Planning Strategies
Jul-31 8 TB 4152078B
Deciphering the Myths and Realities of Comprehensive Risk Management and Insurance Planning
Aug-4
Clients for Life: Retain Your Top Clients to Maximize Business Growth
8 TB
4152926B
LearnLinx Webcasts continued on pg. 44
To register, call 800.342.3197 or 850.224.2727, or visit ficpa.org/cpe.
www.ficpa.org
43
LearnLinx Webcasts continued from pg. 43
Aug-11
2 TB
4153054B
Challenges Facing Accounting Professionals: The Past, The Present and the Future
Aug-14
4 TB
4152552D
Top 10 AMT Causes and Planning Strategies
Aug-17
8 AA
4152558B
Corporate Finance Checkup: Renovate Your Analytical Toolbox
Aug-18
8 TB
4152075B
Personal Financial Planning Challenges: Analysis, Evaluation and Recommendations
Aug-20 2 TB 4153057B
High-Duty Engagements: Rules, Risks and Tools for Business Management, Family Office, Closely-Held Businesses
Aug-21
3 TB
SSSAWBR2
Social Security: Strategies and Advice for Your Clients
Aug-25
8 TB
4151331B
Mutual Fund Investing: A Working Knowledge
Aug-26
8 TB
4152922B
Social Security Basics and Strategies For Maximizing Benefits
Tax Credit Date Hours Code
Title
Jul-10
2 TB
4153037A
Taxation of Foreign Persons Operating an Equine Business in the U.S.
Jul-14
1 TB
4153016A
Acquisition of U.S. Real Estate by Nonresidents: Selecting the Holding Structure
Jul-14 1 TB 4153018A
Disposition of U.S. Real Estate by Nonresidents: Taxation, Return Preparation, Withholding, and Other Matters
Jul-14 1 TB 4153017A
Ownership of U.S. Real Estate by Nonresidents: Income Taxation During the Ownership Phase
Jul-14 1 TB 4153019A
U.S. Real Estate Investment by Nonresidents: Advanced Topics in Financing Methods
Jul-15
2 TB
4153000A
Graduate School: Admission, Financial Aid and Educational Tax Benefits
Jul-16
8 TB
4151360B
Preparing Form 706: The Federal Estate Tax Return
Jul-17
2 TB
4152729A
Divorce: Keeping It Separate
Jul-22 8 TB 4152918B
The Portable Exclusion, Marital Deduction and Future of Survivor’s and Bypass Trusts Planning
Jul-24
8 TB
4152287C
Individual Tax Planning Topics
Jul-24
2 TB
4153038A
Taxation of U.S. Persons Operating a Global Equine Business
Jul-28
8 TB
4152980B
Virtual Currency
Jul-29 2 TB 4152990B
Tax and Financial Planning Implications Surrounding Posthumously Conceived Children
Jul-31
4 TB
4152964C
Employee Stock Options
Aug-5
8 TB
4152966C
Affordable Care Act - Tax Favored Health Care Plans After ACA
Aug-7
4 TB
4152996A
Incorporating a Business
Aug-10
8 TB
4152778C
Cost Capitalization A-Z
Aug-12
8 TB
4151682D
Preparing Form 5500
Aug-12
8 TB
4151682C
Preparing Form 5500
Aug-13
2 TB
4153035A
International Tax Controversies With the IRS: Procedural and Substantive Issues
Aug-14
4 TB
4152964D
Employee Stock Options
Aug-17
3 TB
4153040A
International Taxation
Aug-18
8 TB
4151477B
S Corporations: Tax Consequences of Termination, Liquidation and Sale
Aug-19
2 TB
4153044A
Advanced Estate Planning
Aug-19
8 TB
4151323B
LLCs and Partnerships: Review of Selected Topics
Aug-19 8 TB 4151525B 44 JULY/AUGUST 2015
Tax Practice Conduct Standards: Circular 230 and AICPA Statements on Standards for Tax Services
Of Course!
Aug-20
1 TB
4153042A
International Joint Ventures: Tax and Non-Tax Aspects
Aug-20
8 TB
4151274B
Living Trust Administration Workshop
Aug-20
1 TB
4153045A
Tax Strategies for Startups
Aug-21
8 TB
4152287E
Individual Tax Planning Topics
Aug-21
8 TB
4152287D
Individual Tax Planning Topics
Aug-24
8 TB
4151982B
Advanced Issues: The Art of the Estate Tax Return
Technology Credit Date Hours Code
Title
Jul-13
2 TB
4152813A
Desktop Tools to Help Detect and Prevent Fraud
Jul-14
2 TB
4152814A
Rethink Your Internal Controls to Keep Mobile Access Secure Webcast
Jul-15
8 TB
4151551B
Introduction to XBRL: New Opportunities for CPAs
Jul-24
2 TB
4152983A
Excel Power User Module 3: Six Critical Excel Functions
Jul-31
2 TB
4152984A
Excel Power User Module 4: Handling Errors and Comparing Lists
Aug-7
2 TB
4152985A
Excel Power User Module 5: Date and Text Functions
Aug-10
2 TB
4152738A
Managing External Data and How to Get the Most Out of Subtotals
Aug-12
2 TB
4152796A
Cloud Computing Update
Aug-21
2 TB
4152986A
Excel Power User Module 6: Time-Saving Techniques
Aug-31
2 TB
4152812A
Excel Macros: Easier Than You Think
New Saturday Sessions
Also Available Via Simulcast
To register, call 800.342.3197 or 850.224.2727, or visit ficpa.org/cpe.
www.ficpa.org
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S AVE THE S E EVEN T DATE S From full-fledged conferences to flexible Seminar Days, we offer the highest quality CPE to meet your needs. Mark your calendar for these events around the state! JULY
OCTOBER Summer Vacation Cluster (20 CPE) Orlando July 23-25, 2015 Nine Flexible Four-Hour Sessions #ficpaSVC
AUGUST Tampa Seminar Days (Up to 56 CPE) Tampa Aug. 11-14 and 19-21, 2015
State and Local Government Accounting Conference (16 CPE) Orlando Aug. 27-28, 2015 #ficpaSLGAC
SEPTEMBER 30th Annual Accounting Show (23 CPE) Broward County Convention Center Sept. 16-18, 2015 #AnnualShowFICPA
Construction Industry Conference (8 CPE) Orlando Oct. 23, 2015 #ficpaCIC
Florida Gulf Coast University Accounting & Tax Conference (16 CPE) Ft. Myers Oct. 29-30, 2015 #ficpaFGCU University of South Florida Accounting Conference (16 CPE) Tampa Oct. 29-30, 2015 #ficpaUSFAC
NOVEMBER Common Interest Realty Association Conference (16 CPE) Ft. Lauderdale Nov. 5-6, 2015 #ficpaCIRA University of Florida Accounting Conference (19 CPE) Gainesville Nov. 5-7, 2015 #ficpaUFAC
Live Simulcast Attendance Two Ways to Attend! We bring select FICPA conferences to the convenience of your home or office! Conferences offering simulcast coverage are denoted with this symbol
. To register, visit the conference webpage or call the
FICPA Member Service Center at (800) 342-3197.
46 JULY/AUGUST 2015
Of Course!
F L O R I D A
Florida Institute of Certified Public Accountants P.O. Box 5437 Tallahassee, FL 32314-5437
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e t s i Reg
Broward County Convention Center Sept. 16-18, 2015 www.ficpa.org/AnnualShow