Newsletter from the Iowa Society of CPAs, your primary source for profession-related information
Join the fun at 60th fall conference in Iowa City On September 26-27, in Iowa City (see photo above), the ISCPA’s Annual Fall Tax & Accounting Conference will be celebrating its 60-year anniversary. You’ll want to be there for the variety of topics and new activities that are planned. You may even win a Visa gift card!
Bring a Crowd
Tell your co-workers and CPA friends about the value of the conference and encourage them to register–the more “new” people who attend the conference, the more chances you will have to win a $500 Visa gift card. A “new attendee” is anyone who did not attend the conference in 2012. If 30 new people attend, all participants will be entered into the drawing to win a $500 gift card. If 60 new people attend, two $500 gift cards will be given away.
You probably have more than one generation in your workplace and not enough time to get to know each other. A session selected by ISCPA’s new LEAP (Leaders Emerging in the Accounting Profession) Task Force is Success Leaves Clues: Career Strategies for New Professionals, presented by Ron Baker. Want more opportunities for mingling? Come to a happy hour at everyone’s favorite Iowa City watering hole, The Airliner Bar and Restaurant, on Thursday, September 26. Connect with your peers and the happy hour hosts, the LEAP Task Force. Everyone is welcome. Complimentary appetizers and cash bar will be available.
(Re-)Name That ‘Tune’
As the annual fall conference in Iowa City embarks on its next 60 years, you can help re-name this conference to reflect the diversity of CPE topics now offered. You do not have to attend the conference to participate. Submit your ideas via email at firstname.lastname@example.org or at the conference via a suggestion box. If your idea is selected, the Society will waive your 2014 conference registration fee (a $440 value).
Top 10 reasons to attend 1. Multiple sessions relevant to CPAs in business & industry - it’s not all tax! 2. Meet other professionals like yourself… network and share best practices. Remember to bring your business card! 3. Help celebrate the 60th anniversary of this conference - cake will be served! 4. Attend for FREE in 2014 - submit an idea to rename the conference. If your idea is chosen, your fee for next year is waived! 5. Tell a friend - the more friends you recruit to attend, the more chances you’ll have to win a $500 Visa gift card! 6. Chat with other attendees at the happy hour on September 26 from 5-7 p.m. It’s sponsored by ISCPA’s new young professionals group, LEAP. Appetizers provided. 7. Receive coupons for Iowa City area retailers, including Tanger Outlets. 8. Attend a special session for young professionals presented by Ron Baker. 9. “Tickle My Keys” – play public pianos during your breaks. You’ll find them in the Iowa City Ped Mall. (See photo above.) 10. Enjoy the fun, downtown Iowa City location close to dining, U of I campus activities, and much more!
Iowa Society of CPAs... Advancing the professional success of our members
Simplified membership categories
he June 2013 issue of Iowa CPA mentioned the restructuring of membership categories and dues that was approved by the ISCPA Board of Directors at its April 26, 2013, meeting. The new categories better fit the Society’s mission statement, improve sustainability of the organization, are easier to understand, and reinforce the concept of CPA certificate = CPA certificate. The chart below provides an overview of the restructuring. Current members will not be impacted by the changes until the annual membership renewal process begins in October.
Membership Annual Renewal Class Amount
Resident and Non-Resident Members (active and inactive CPA certificate holders) 1
Any CPA employed in Iowa and holding original CPA certificate for more than 10 years
Any CPA employed in Iowa and holding original CPA certificate for 6-10 years
Any CPA employed in Iowa and holding original CPA certificate for 5 years or less
Non-resident CPA (employed outside Iowa)
Any CPA not currently employed, a full-time student, or retired CPA
Life Member (individual member for 40 consecutive years)
Associates (individuals who do not have a CPA certificate) 7
Non-CPA owner of a CPA firm or a non-CPA accounting educator
Affiliates (individuals who do not have a CPA certificate) 8
Professional Affiliate or Exam-qualified Affiliate
Three reasons to brag about a CPA you know Please think about the members you know and consider nominating someone for one or more of these awards. • The Public Service Award recognizes members who have exhibited a distinguished record in their work for nonprofit charitable or civic orgaIssue No. 2013-07/08 Published eleven times per year by the Iowa Society of Certified Public Accountants (ISCPA). Send address changes, advertising inquiries, and all correspondence to: Iowa Society of CPAs 950 Office Park Rd, Ste 300 West Des Moines, IA 50265-2548 Email: email@example.com Website: www.iacpa.org or, contact the ISCPA office: 515-223-8161/800-659-6375 Front page photo: Sculpture in Ped Mall, Downtown Iowa City Photo by: JIM HEEMSTRA
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nizations. Nominees will be judged by their voluntary participation in one or more organization over periods of time in their local community, the state of Iowa, or the nation. • The Outstanding CPA in Business and Industry honors the achievements of members in business and industry and promotes the CPA certificate as the preferred credential for business. Candidates are judged for having made a significant contribution to the growth and success of their employer or to a notable entrepreneurial achievement. • The new Rising Star program was developed to nurture younger members who are emerging as leaders and acknowledge their efforts so far. Candidates must be 40 or younger and a volunteer for the Society, with a civic or charitable organization, or with another professional association. The nomination process is easy. Just indicate who you think is deserving
of an award and staff will do the rest. Nominations are being accepted for the 2014 Public Service Award and the 2014 Outstanding CPA in Business & Industry until October 10. For the new Rising Star, the deadline is September 13. Each award has different selection criteria, which are stated on the forms. Anyone can nominate an ISCPA member for the above awards. Complete and return the award nomination form by the appropriate date. You can download the forms from the resource section of the website (www.iacpa.org/resources).
Need your financial reports reviewed? Use the ISCPA Practice Review Service. Contact ISCPA for more information. www.iacpa.org
Putting dues in perspective: What does membership do for me?
f you sell an XYZ widget and the retail price is $10 each, when a customer asks,: “What does XYZ cost?” You tell them the price and that is that. Right? But, what about intangibles? Even widgets have them. You can read the chart on page 2 and find out the cost of your membership. But, what about the intangibles? Volunteers on this year’s Membership & Member Benefits Committee say the Iowa Society of CPAs empowers them. “By getting involved in ISCPA, I have the opportunity of meeting and networking with other individuals in our profession.” —Sarah Carstens staff accountant, assurance services, Ernst & Young LLP “I have built strong professional relationships with other members through my committee involvement. As the old saying goes, ‘It’s not what you know, but who you know.’ …and I have met and worked with some great people that have helped advance my career. “What you know” is equally important, and ISCPA has me covered for that with a variety of technical CPE courses.” —Kelley Ellis director of actuarial governance, Aviva “I joined the Society because I realized (after attending the annual meeting) how many networking opportunities were available, and I wanted to begin cultivating new relationships.” —Monica M. Johnston staff accountant, assurance services, Ernst & Young LLP “As someone who is no longer in the public accounting field, being a part of the Society allows me to stay in touch with my academic and professional “roots.” The CPA designation has also provided me with a lot of opportunities in life, so I feel a personal obligation to help ensure it remains strong.” —Marc Salmon business development officer, Wells Fargo Bank Iowa NA “The ISCPA is a great way to stay connected with other accounting professionals and a great resource for educational materials.” —Kelly Wolfe senior accounting manager, Electrical Engineering & Equipment Company “Being a (past) Society committee chair gave me invaluable opportunities to stretch my organizational abilities and presentation skills.” —Sunny Roeder senior accountant, accounting systems & analysis,FBL Financial Group, Inc. “Why do I belong to ISCPA? The members! They are highly motivated individuals who serve the profession AND their communities in countless ways. If success is facilitated by surrounding yourself with good people, then belonging to ISCPA is a professional MUST!” —Heidi Kleve financial consultant, Wells Fargo Bank Iowa NA When you use your ISCPA membership, you become empowered to have more, do more, and be more.
As a member… • When you read the various Society newsletters, you can increase your understanding of technical topics and learn more about fellow members. • When you use the online membership directory, you can contact a fellow member for advice or simply to reconnect and say “hello.” • When you attend a PIU (professional issues update) in your region, you can not only find out about current accounting issues, you can speak directly to Cindy Adams, executive director. • When you participate on a committee, you can turn an idea into a program, a project, a reality, and you can connect with your peers. • When you attend CPE, you can update or add to your knowledge about an area on which your livelihood depends or you can explore a new area of the profession that intrigues you. • When you volunteer for a public service project sponsored by the Society, you can give your skills and time to the community and you can help improve the image of your profession. • When you chair a committee, you can improve and enhance your leadership skills. Never chaired a committee before? What better way to learn than among your CPA friends and helpful staff? • When you report CPE that you have taken, you can use the CPE Transcript. ISCPA-sponsored classes are automatically entered. Quick, easy, available any time. Most important, the Iowa Accountancy Examining Board accepts this tool as proof you took Society courses. You can also enter non-ISCPA sponsored courses into your CPE Transcript. • When you take CPE, you receive a $50 discount. • When you need advice or a sounding board, you can use the Members Only LinkedIn group or contact staff.
Iowa CPA | July/August 2013 | 3
Council Corner: A national view of issues By: Steve Marlow, ISCPA Council Representative
full slate of legislative issues and transformation within the industry were some of the topics presented during the 2013 American Institute of CPAs (AICPA) spring Council meeting in Washington, D.C. Representing the ISCPA at the May meeting were Don Seibel, president; Cindy Adams, executive director; Scott Nelson, the Society’s federal key person coordinator; and me, AICPA Council representative. ISCPA members can access my full report at http://goo.gl/9nN6E.
Day One Opening Remarks
The AICPA chair of the board, Richard Caturano, opened the meeting with his perspective on the pace of change since his start in the profession 35 years ago. He reiterated his priority for diversity and inclusiveness in the industry during his tenure, and discussed
the role of the National Commission on Diversity and Inclusion.
Day One Continues
A CNN political and election analyst, Ron Brownstein, talked about the balance of power within the federal government and his views on the current political system. Next, the meeting moved to a Business and Industry Members’ Panel discussion on the developments around the CGMA and CIMA designations. The effort by AICPA to change the definition of “attest” within the context of the Uniform Accountancy Act was summarized by William Balhoff, vice chair of the board of directors.
Second Day – Morning Day two sessions began with a report from AICPA President and CEO Barry Melancon. Highlights covered the transformation occurring within the profession, the need to embrace diversity, advocacy issues, changes to education requirements, and the international pace of change, human capital and technology advances. AICPA’s Anthony Pugliese updated discussions from the regional meetings. Bob Schieffer, moderator of Face the Nation, provided a number of insights on the recent IRS scandal and pressing issues in Washington, D.C. The morning sessions concluded with a luncheon presentation on the historical development of the national debt and financial statement of the U.S. government, presented by Gene Dodaro, comptroller general of the United States.
Second Day – Afternoon
Members of the National Commission on Diversity and Inclusion panel discussed why addressing diversity is important. Task forces will address research and metrics, advancement, and retention. Tommye Barie and Anthony Pugliese provided an update of the
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Institute’s financial results and proposed 2013-14 budget, which was approved by the Council. House Ways and Means Committee member Representative Tom Price addressed the level of the country’s debt and his views on tax policy and the administration’s unpreparedness for health care exchange implementation. Monday’s sessions ended with briefings on our Capitol Hill visits.
Matthew Dowd, ABC political analyst, was the featured breakfast speaker. He made several pointed comments including: • The American public has no faith in any of the country’s “institutions;” • There will be no progress in Washington D.C. until everyone takes off their jerseys; • Both parties are merely looking for facts to support their own biases, no matter what the issue; and • Relationships today are more important than transactions.
The final day concluded with our group visiting in person with Congressman Tom Latham, and making visits to various staff of Bruce Braley, Steve King, Dave Loebsack, Tom Harkin and Charles Grassley. We also had a chance to attend a constituent breakfast with Tom Harkin. Our discussions focused on the messages supported by AICPA. We were pleased with the reception we received from legislators and staff during our visit. Their knowledge of the issues and our discussions provided an element of hope in the political process and future of the country. Steve Marlow is CFO with Care Initiatives, Inc, West Des Moines, and a past president of the Society.
State treasurer liaison meeting 2013 By Anna Dehrkoop, Taxation Committee
n June 20, 2013, the ISCPA Taxation Committee hosted speakers from the Iowa Treasurer of State’s office. Representatives were Karen Austin, deputy treasurer, and Kathryn Fehring, compliance officer. Karen and Kathryn explained to the committee the Unclaimed Property Program and the Great Iowa Treasure Hunt.
What Is Unclaimed Property?
It is a financial asset that has been abandoned by its owner for period of time. Common examples of unclaimed property include: dormant bank accounts, uncashed checks, stock certificates and dividends, insurance premiums, utility refunds, safe deposit box contents, and unclaimed wages. When a financial asset is turned over to the state, the state becomes the custodian of the asset and stands in the shoes of the owner. In Iowa alone, $163 million in unclaimed property has been returned to the rightful owners. Through The Great Iowa Treasure Hunt, created by State Treasurer of Iowa Michael L Fitzgerald, the program has successfully achieved a 65% return ratio.
What Are Holder Responsibilities?
The holder of unclaimed property must report and remit unclaimed property annually. Additionally, a holder needs to monitor law changes, perform due diligence, monitor stale dated checks, balance the general ledger liability to an unclaimed property database, retain documentation for at least four reporting years, coordinate external audits, and develop an unclaimed property program/procedure. Annual reports are due by November 1 for each closing date of June 30. Unclaimed payroll checks are to be remitted to the state after one year and unclaimed vender checks are to be
remitted to the state after three years. Holders of unclaimed property must send a notice of intention to the last known address of the property owner 60 to 120 days before remitting property to the state. As part of the due diligence requirement, holders of unclaimed property must make a true effort to find the rightful owners of the property before remitting it to the state. Currently, the State Treasurer of Iowa has two programs to help a holder achieve compliance: The Voluntary Disclosure Agreement (VDA) Program and the Amnesty Program. The VDA program is for businesses and other organizations with incomplete records, complex unclaimed property liabilities, and special issues complicating the calculation of the amount of unclaimed property owed. In order for a holder to be eligible for the VDA program, the holder must submit to the Treasurer of State a plan describing the self-review process. At a minimum, the plan must include the years covered, the property types included, procedural approaches, record-keeping deficiencies, and estimation methodologies if used. The Amnesty Program is available until November 1, 2013. This program provides relief from late reporting interest and penalties on past-due property that is reported and remitted this year. In order to be eligible for the program, a petition must be completed and returned to the Treasurer of State prior to reporting.
website, the Iowa State Fair and other local events, and public relations efforts through press releases. Additional information regarding the Great Iowa Treasure Hunt and holder responsibilities can be found at www. greatiowatreasurehunt.com. If you think you have unclaimed property in other states, visit www.NAUPA.org to search other state specific information and websites. Anna Dehrkoop is a financial analyst with Mechdyne Corporation, Marshalltown.
Try not to become a man of success, but a man of value. ~Albert Einstein
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What Are the State’s Responsibilities?
After remitting unclaimed property to the state, the holder is released from liability of the unclaimed property. The state is responsible for making efforts to locate the rightful owners of unclaimed property through mailings, publications in the county of last known residency two times per year, the Great Iowa Treasurer Hunt
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Iowa CPA | July/August 2013 | 5
Leadership strategy picnic 2013: Mission possible
n Monday, June 24, the board of directors, committee chairs, and Society staff held a strategy picnic similar to the two offered last summer. President Don Seibel reviewed the ten Society strategies (www.iacpa. org/AboutISCPA). Also, the strategy cycle: Analyze, educate, listen, create, approve, and inspire (www.iacpa.org/images/cycle.pdf) developed last summer will again be pivotal in discussions throughout the year. The top five strategies guiding the Society this year are the same as last year:
terests with government, regulatory bodies, and other organizations. • Provide high quality, effective programs and services. The interactive section of this summer’s leadership picnic was
• Encourage highly qualified individuals to become CPAs. • Facilitate member alliances to encourage networking and competence. • Assist members in the continuing development of professional expertise and competence. • Advocate the membership’s in-
The challenge: In order to remain viable in the future, an association’s membership needs to be able to replace current members who leave or retire and find new leaders as others serve and then step back. Yet, demographics and a shift in attitude toward joining associations make those goals challenging. Where do we start? What do we do differently? Leaders were asked these and other hard questions. A series of lively discussions ensued.
The conclusion: Increase membership by 5%. We call it Mission Possible, Pictured l to r: Peg Trevino, Legislation Committee Chair, Mike even though obvious anScheuermann, board member, Kristin George, Membership & swers to the hard quesMember Benefits Committee Chair tions won’t work. What new or different answers membership growth and retention. do you have? To achieve this goal, we need to hear from you. Your involvement Grow your nest egg, To help everyone get in the mood to brainstorm, staff swooped into is crucial. Put on a super hero cape, roll not your tax bill. the room wearing masks and super up your sleeves, and work beside us. hero capes with “CPA” on them. The Society’s future depends on you.
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FRF for SMEs released in June
he American Institute of CPAs (AICPA) has introduced the Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs) to help “Main Street” businesses with their financial reporting needs. The new accounting option for preparing streamlined, relevant financial statements is for privately held owner-managed businesses that are not required to use US generally accepted accounting principles (GAAP). The framework offers small business owners an alternative to the non-GAAP options that are currently available. It provides efficient, meaningful results without needless complexity or cost. To be clear, the FRF for SME is not GAAP, but is complementary to efforts by the Financial Accounting Foundation’s Private Company Council to modify GAAP for private companies. You can access a PDF file of the framework at http://goo.gl/cc2uc. A joint statement pledging cooperation on private company financial reporting frameworks from NASBA and AICPA was issued July 15. Access the release here: http://goo.gl/h5aDS.
INTEGRITY. PRECISION. SECURITY.
6 | Iowa CPA | July/August 2013
CPE Calendar August 6
Farm Taxation Update (ftu-sf)
Current Developments and Best Practices for Today's CFO's and Controllers (tcfo -dm)
West Des Moines
Professional Issues Update & Golf – Southwest Regional Alliance (piu-sw) NEW
From Hiring to Firing and Everything in Between: Legal, Tax, and Health Care Issues (htof-dm)
West Des Moines
Farm Taxation Update (ftu-dm)
Cloud Computing (cc)
West Des Moines
Excel Best Practices (ebp)
West Des Moines
Compilation & Review Update (cru-dm)
West Des Moines
Compilation & Review Update (cru-mol)
Compilation & Review Update (cru-wlo)
Ethics in the Real World (erw-ame) NEW
How Good Companies Become Great (gtg-ame) NEW
Iowa Community Bank Update (icbu)
West Des Moines
AHI Staff Training: Basic (stp1a)
West Des Moines
Current Developments and Best Practices for Today's CFOs and Controllers (tcfo - cr)
CFO/Controllers Roadmap to Organization Success with Integrated Planning, Forecasting, and Budgeting (plfb-cr)
Derivatives and Hedge Accounting: The Essentials (hedge)
West Des Moines
Accounting & Auditing Update (aau-dm)
West Des Moines
Accounting & Auditing Update (aau-wlo)
CPE News You Can Use
ACPEN Monthly Webcast (classroom or individual)
Stay on top of the latest trends in the banking industry–attend Iowa Community Bank Update, scheduled August 29, in West Des Moines. Gain a better understanding of the many issues unique to the banking industry in general and community banks in particular.
August classes added in Ames
August 28 Ethics in the Real World August 28 How Good Companies Become Great Location: Hilton Garden Inn Instructor: Dan Chenoweth
Accounting & Auditing Update September 11, 2013 Classroom locations: Des Moines and Waterloo Individual webcast information and registration: use the link on the classroom event description in the online CPE catalog.
Farm Taxation Update by Andy Biebl
August 6 – Sioux Falls, SD August 22 – Des Moines, IA
Iowa CPA | July/August 2013 | 7
New Members Amanda J. Carlson-McGuire McGladrey LLP Des Moines
Laura Janssen Williams & Company PC Le Mars
Bradley Mihm CliftonLarsonAllen LLP West Des Moines
Henry C. Schuerer McGladrey LLP Des Moines
Chelsea Francisco Ernst & Young LLP Des Moines
Ryan J. Johnson Principal Financial Group Des Moines
Dawn R. Mikkelson Terry Lockie & Associates PC Sioux City
Brian M. Schult FBL Financial Group Inc West Des Moines
Melissa J. Gonnerman McGladrey LLP Des Moines
Korey C. Keninger McGladrey LLP Des Moines
Carol A. Mittelstadt Centennial Oaks Golf Club Waverly
Andrew J. Steckel McGladrey LLP Des Moines
J. Richard Greenwell KPMG LLP Des Moines
Derrick D. Klever Bergan Paulsen & Company PC Cedar Rapids
Jeffrey Steiff Principal Financial Group Des Moines
Bret D. Groenenboom McGladrey LLP Des Moines
Randalle Knapp Bohr Dahm Greif & Associates PC Cedar Rapids
Drew Murray McGowen Hurst Clark & Smith PC West Des Moines
Darin Hackman Ernst & Young LLP Des Moines
John P. Marshall Jr McGowen Hurst Clark & Smith PC West Des Moines
Sara A. Hugley Ernst & Young LLP Des Moines
Simpson College Heather Gayer Alyssa Miller
Jeremiah Schlegel Renewable Energy Group Inc Ames
Saint Ambrose University Bronya J. Conner University of Maryland University College Megan Segalla
Members in the News David A. Vaudt, formerly Iowa’s state auditor, received the Leadership for Iowa Award from the Iowa Association of Business and Industry Foundation. Leadership Iowa (LI) serves as an issues awareness program to develop, educate, and motivate current and future leaders of Iowa. The Leadership for Iowa Award is reserved for an alumnus – nominated by LI alumni – who is a leader among leaders, showing a demonstrated commitment to serve Iowa. Vaudt became chair of the Governmental Accounting Standards Board, Norwalk, CT, as of July 1, 2013. Michael A. Grossman, McGladrey LLP, Des Moines, and Conrad M. Hanson, McGowen Hurst Clark & Smith PC, West Des Moines, have graduated from the Greater Des Moines Leadership Institute. James D. Nalley, BCC Advisers, Des Moines has graduated from the Iowa Association of Business and Industry’s Leadership Iowa.
8 | Iowa CPA | July/August 2013
Frank R. Tallerico WesleyLife Johnston
Laura Schanilec TD&T Financial Group PC Oskaloosa
Student Affiliates Drake University Ashima R. Laad Debra Samson
Cassandra L. Swanson Pella
Andrew R. Phinney McGladrey LLP Davenport
Kayla Vandehaar Deloitte & Touche LLP Des Moines
Exam-Qualified Affiliates Darren Johnson Carney Alexander Marold & Co LLP Waterloo Mitchell R. Stewart Thompson & Eich CPAs PLC Fort Dodge Matthew R. Sweers Carney Alexander Marold & Co LLP Waterloo Steven W. Taylor Carney Alexander Marold & Co LLP Waterloo
Thanks, volunteers! Money Mammals: http://bit.ly/HQoujy CPA Program: http://bit.ly/Je9j4f
2013 Annual Meeting The professional clothing drive by ISCPA’s new young professional task force, LEAP, was a huge success!
LEAP Task Force “Attire to Inspire”
Buddy Project: New CPAs (yellow name tags) paired with Membership & Member Benefits volunteers (right).
Members network at annual meeting.
More successful candidates…Buddy Project
Dave Rendall, a humorist from Rendall & Associates, Goldsboro, NC, presents a leadership development session titled “Dead Leaders: Lessons from the Lives and Violent Deaths of the World’s Most Influential People.”
Cindy Adams (center), ISCPA executive director, visits with meeting attendees.
Keynote speaker, Jim Bourke, partner and CIO at WithumSmith+Brown in Red Bank, NJ, presents “Trends in the Profession: Focus on Tech, Growth Opportunities.”
Nearly 190 ISCPA professionals attended the annual meeting in Des Moines.
Iowa CPA | July/August 2013 | 9
Classifieds TREASURER/FINANCE DIRECTOR–City of Plattsmouth, NE seeks a Treasurer/Finance Director. Responsible for development, coordination, and administration of the city’s financial reporting, accounting, purchasing, payroll, investment activities. Requires CPA licensure at time of hire; at least 5 years’ experience in public accounting and finance, or an equivalent combination of education, training and experience; minimum of 5 years supervisory experience, or an equivalent combination of education, training and experience. Compensation negotiable, DOQ, with excellent benefits. Complete job description available at www.plattsmouth.org. Open until filled. Submit application and resume to City Clerk, 136 N 5th, Plattsmouth, NE 68048. EOE PRACTICE FOR SALE–Northeastern Iowa CPA practice in Fayette County for sale due to owner retirement. Client base is comprised of 67% during tax season and the rest coming in after tax season. For more information, call 563-379-1850. CAREER OPPORTUNITY-SENIOR TAX MANAGER-EQUITY TRACK! Our Des Moines boutique public accounting client is seeking a strategic tax manager! With continued revenue growth and retirements within the next 3-5 years, opportunities for equity participation are a reality. We’re considering candidates with 5+ years of public accounting experience in corporate and partnership taxation and experience in reviewing returns and managing staff. Corporate tax experience will be considered as well. CPA required. For confidential inquiry and consideration, contact Miles Morrow, Iowa Career Connection: 515-282-5823 or firstname.lastname@example.org. We are retained by our clients who pay all our fees. SENIOR TAX PROFESSIONAL–Senior Tax Professional with 7+ years recent solid income tax experience in a public accounting environment. Duties for this position include preparation and review of complex corporate, partnership and individual tax returns, including multi-state returns, and providing high
10 | Iowa CPA | July/August 2013
quality tax consultation services to clients. Potential ownership opportunity for qualified candidate. Denman & Company, LLP, Des Moines Metro Area’s 4th largest CPA firm, located in West Des Moines, is experiencing growth and offers opportunities for advancement. We offer a generous compensation package, including excellent benefits and incentive bonuses. Send resume and salary requirements to Human Resources, Denman & Company LLP, 1601 22nd St, Suite 400 West Des Moines, IA 50266, email HR@denman-cpa.com, fax 515-2250149. EOC CPA: OFFICE SPACE AVAILABLE–CPA wanted to share West Des Moines office with Financial Planner and Attorney. Furnished individual office space and receptionist provided. Rent is all inclusive of wireless internet, conference room, kitchenette, access to the fitness area. There is easy access and ample parking. Please respond to Garland and Associates at 515-2768972. Please visit our website at www.garlandandassoc.com. AUDITOR–For over 50 years, Denman & Company, LLP, Des Moines Metro Area’s 4th largest CPA firm, located in West Des Moines, has been serving the financial needs of the Midwest offering a full range of accounting, auditing, tax and consulting services. Due to continued growth, we are currently seeking an audit professional with 3-7 years public accounting experience to complete audit engagements through completion. Position requires a Bachelor’s degree in Accounting or related field; CPA license and strong technical abilities, leadership and mentoring skills, and availability for limited travel. Denman & Company, LLP is experiencing growth and offers opportunities for advancement. We offer a generous compensation package, including excellent benefits and incentive bonuses. Please submit your resume and salary requirements in confidence to Human Resources, Denman & Company LLP, 1601 22nd St, Suite 400 West Des Moines, IA 50266, email: hr@ denman-cpa.com, fax 515-225-0149. EOC EOE TAX OPPORTUNITIES–Roth & Company, PC, a full service accounting firm located in Des Moines, Iowa is currently seeking candidates for the following opportunities: Tax Staff – CPA with 2 to 4 years of tax preparation experience with a public accounting firm. Responsibilities include preparing individual, partnership, and corporate tax returns. Tax Manager – CPA with 6 or more years of tax preparation and review experience with a public accounting firm. Responsibilities include reviewing complex corporate, partnership, and individual income tax returns. Good research and communication skills are necessary to provide tax consultation services to clients. Roth & Company, PC, offers a competitive salary, benefits, and great long-term career opportunities. Please send resumes by email to email@example.com or mail to Jay A. Anderson, Roth & Company, PC, 666 Walnut, Suite 1450, Des Moines, IA 50309. EOE. For ad rates and deadlines, visit: www.iacpa.org/ Resources/ClassifiedAds/ad_rates.aspx.
Classifieds TAX PREPARER–Tax Preparer with 2+ years’ recent solid income tax experience in a public accounting environment. Duties for this position include preparation of complex corporate, partnership and individual tax returns, including multi-state returns. Denman & Company, LLP, Des Moines Metro Area’s 4th largest CPA firm, located in West Des Moines is experiencing growth and offers opportunities for advancement. We offer a generous compensation package, including excellent benefits and incentive bonuses. Send resume and salary requirements to Human Resources, Denman & Company LLP, 1601 22nd St, Suite 400 West Des Moines, IA 50266, email HR@denman-cpa.com, fax 515-225-0149. EOC CONTROLLER–Rowley Masonic Community, located in Perry Iowa, seeks financial controller to join the team. Rowley is a non-profit fraternal organization that provides a small continuing care retirement community to elderly population. Levels of care include: skilled nursing, independent living, and assisted living. The controller will manage the organization’s financial processes and reports to the Administrator and Board of Trustees. Medicare and Medicaid accounting helpful; will train right candidate. Send resume to: Rowley Masonic Community, PO Box 578, Perry, Iowa 50220. FACULTY–Grand View University is accepting applications for part-time Accounting faculty for Fall 2013. Instructor needed for the following: ACCT-412-M2 S22013 Advanced Income Tax 3 credits 8:10PM - 10:25PM 10/21/2013 - 12/14/2013 T&TH. Previous teaching experience and relevant experience in the subject area are desired. Master’s degree with CPA required. Experience preparing corporate and partnership tax returns in a CPA firm required. Interested candidates should apply online via our website: www.grandview.edu. Please include letter of application, vita/resume, transcripts (unofficial satisfactory at this time), and contact information for three references in your online application materials. MULTIPLE OPPORTUNITIES–Frankel Zacharia, LLC, a premier CPA firm in Omaha, NE is hiring for the following positions: Senior Tax Manager: CPA with a minimum of 8 years tax experience in a public accounting firm. Tax compliance for individuals, partnerships, trusts and corporations. Strong verbal and written communications. Independent, self-motivated and able to func-
tion as a member of a team. Critical thinking and strong analytical problem solving skills and attention to detail. Supervisor/ Manager Tax Accountant: 4-8 years tax experience in public accounting. Prepare and review individual, corporate and partnership tax returns. Instruct and train assistants on tax preparation. Assist with review of significant engagement findings and issues relating to tax matters. Research complex tax issues. Staff/Senior Tax Accountant: 1-4 years public accounting experience. Prepare individual, corporate and partnership tax returns. Instruct and train assistants on tax preparation. Assist clients with various accounting services. Qualified candidates send resume to Lori Zahm: LZahm@fzacpa.com. Resumes will be held in strict confidence. IOWA PRACTICES FOR SALE: Northwest IA CPA Practice gross $170K; Fairfield CPA Practice - gross $655K; NE Iowa (Near Waterloo/Cedar Rapids) Tax & Acctng - gross $240K; Cedar Rapids/Waterloo Area CPA Practice - gross $196K. For more information about this great listing or others in your area, call 1-800-397-0249. Also, view listing details and register for free email updates at www.AccountingPracticeSales. com. Thinking of Selling Your Practice? Accounting Practice Sales is the leading marketer of accounting and tax practices in North America. We have a large pool of buyers, both individuals and firms, looking for practices to purchase. We also have the experience needed to help you find the right fit for your firm, negotiate the best price and terms and ® get the deal done. To find out more about our risk-free and confidential services, call Trent Holmes at 1-800397-0249 or email firstname.lastname@example.org. When something happens to your home, car, or
Succession planning #4 Bill Reeb, CPA, continues his discussion on succession planning. Now that you have determined how to pay the partner for his/her value in the firm, pinned down the mandatory sale of ownership date (MSO) so you can phase that partner out of serving in a leadership capacity within the firm, and covered the client transition process, it’s time to talk about how to find replacements for the retiring senior partners. [Go to Iowa CPA archive for #1 (Jan.), #2 (Mar.), and #3 (May).]
You deserve a
business, it may not be a disaster.
Fortunately, West Bend provides a Silver Lining, no matter what the claim may be. If your beloved pet is injured in an accident, having coverage for veterinarian expenses is important. So that’s just what we offer with our Home and Highway® policy. And you’ll find a Silver Lining in other ways with features that include coverage for just about everything you own and a 5% cash back award if you don’t have a claim. You even get a special discount just for being a member of the Iowa Society of CPAs. To find out more, visit thesilverlining.com.
Read Reeb’s Commentary: www.iacpa.org/Libraries/publications/pp1306_1.sflb. ashx
Iowa CPA | July/August 2013 | 11
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1-800-397-0249 The Holmes Group
Making your state board more efficient By Tom Thompson, chair, Iowa Accountancy Examining Board
he Iowa Accountancy Examining Board (IAEB) is composed of five CPAs, one LPA, and two public members. The governor appoints these volunteers, and they serve staggered three-year terms. IAEB is staffed by Executive Officer Toni Bright and Licensing Specialist Jill Simbro. Pam Griebel, assistant attorney general, provides legal counsel to IAEB and its staff to insure compliance with Iowa laws and regulations applicable to CPAs and LPAs. Toni and Jill are also assigned duties with other state boards. The net result is staff employment for IAEB is currently .83 FTE (full-time equivalent employees). By taking steps to minimize repetitive tasks, use online capabilities to their fullest, and improve processes, staff should be able to help Iowaâ€™s CPAs and LPAs, and get work completed for IAEB in a timely manner. To help out, IAEB is focusing on streamlining the work-flow processes for ongoing routine tasks. In the February issue of Iowa CPA, Carol Schuster, immediate past chair of IAEB, detailed the option of reporting required CPE hours on a fiscal or calendar year basis. In June, CPAs renewed their licenses and CPA firms renewed their permits to practiceâ€”almost all of this was completed online, which has proven to be more
12 | Iowa CPA | July/August 2013
efficient for all parties involved. And, it should reduce CPE reporting discrepancies. Other time-saving procedures recently adopted include setting meeting dates up to one year in advance and distributing Discipline Committee materials via encrypted flash drives. Setting meeting dates well in advance allows volunteers to schedule around regular business demands, and provides sufficient time for staff to comply with public meeting law disclosures, as well as keep agendas up-to-date. Using the encrypted flash drives reduces the time it takes to offer individual packets of materials and eliminates the mailing process altogether. During the past year, IAEB staff reinstated a lot of lapsed licenses. Your state board encourages you to review and renew your license and firm permit on a timely basis. With your help and assistance, we can all save a lot of time and money. Tom is a principal with TD&T Financial Group PC, Fairfield. He is serving the second year of his second third-year term with IAEB and is a past president of the Society.