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The Iowa Society of CPAs

Fall Tax & Accounting Conference

September 26 & 27, 2013 Sheraton Iowa City

Conference Schedule Thursday, September 26, 2013 Registration & Continental Breakfast 7:45–8:30 a.m. Concurrent Sessions–Please Select One 8:30 a.m.–12:05 p.m. The Business of the Future | Ron Baker Today’s businesses are challenged by a variety of factors: new technologies, intensified competition, continued consolidation, a shrinking labor pool, more sophisticated customers, and decreasing profit margins. This session confronts the conventional wisdom embodied in the old business philosophy, which states the way to success is by increasing productivity and efficiency, and utilizing cost accounting and cost-plus pricing. This old business model will be replaced by a better one–the Business of the Future, which offers bold, proven strategies for restoring vitality to businesses everywhere.

Key Issues CPAs Need to Know About the Patient Protection & Affordable Care Act | Pamela Davis-Vaughn The new health care legislation has important implications for employers health care plans and contains significant tax law changes that affect individuals and businesses. This session will cover the key issues and planning strategies CPAs need to know. Medical Insurance Issues: • Overview of health insurance changes affecting businesses. • Shared responsibility excise tax penalty for large employers (i.e., 50 or more employees). • Calculating and defining the 50-employee count: watch out for related company rules. • How does this law affect small business? Should small employers retain health insurance coverage for their employees, or drop it and pay a penalty? What issues confront small employers (those with less than 50 full-time employees)?

• The fastest growing portion of the labor market are knowledge workers (not service workers) and why that difference is critical.

• Options for individuals who do not have health insurance coverage through an employer: purchase coverage or pay a penalty.

• How companies today sell Intellectual Capital (IC), and what, exactly, is IC?

• What will health insurance look like in 2014? Preexisting conditions now must be covered, but choices might be limited and costs of health care coverage should substantially increase. What do Bronze, Silver, Gold, and Platinum mean under the new law in terms of coverage and costs?

• The three components of IC and how each one can be leveraged to create wealth for customers. • Why your company’s people are volunteers and not assets (or resources). • How the focus on revenue growth and market share can seriously impair your company’s profitability, and what to do about it. • Why the traditional metrics of efficiency–which are over a century old–are no longer relevant to measuring the effectiveness of knowledge workers. • The importance of customer selection and the revolutionary Adaptive Capacity Model. • The value proposition you offer your customers. • What are the critical success factors and key predictive indicators for your business?

New Critical Tax Issues: • Understanding the complex rules of the new 3.8% Medicare tax on net investment income, (effective January 1, 2013). • Who is subject to this new tax, how does it work, and key planning strategies individuals should consider that could help reduce or minimize this tax. • Advanced issues: impact of this tax on real estate professionals, the sale of a business, taxpayers with passive losses, and more. • Understanding the new 0.9% Medicare tax on earned income (effective January 1, 2013).

Key Issues CPAs Need to Know About the Patient Protection & Affordable Care Act (continued) • How do self-employment income and losses tie together? Important planning issues. • New limitations on FSAs. • New changes in 2013 for claiming medical expense deductions. • Small business health insurance credit: is it worth considering? • Form W-2 information on health insurance costs required to be disclosed.

why debits don’t equal credits in an intellectual capital economy–and how you can capitalize on this enormous opportunity. • Why canaries are more valuable than accountants– leading versus lagging indicators and the alternative financial reporting model endorsed by leaders in the profession. • What economists have to say about the value of an audit, accounting and regulatory reform, and the promulgation of accounting standards. • Commodization, outsourcing, and emerging growth services in the profession.

Disaster Recovery Planning | Jennifer Elder

• What CPAs are really paid for.

Did you know that 35% of all businesses never reopen after a disaster? And, not all disasters are weather related. How would the loss of a significant customer or a vendor’s bankruptcy affect your operations? This session will cover the most common and even some uncommon disasters, help you evaluate potential threats, and aid in the development of a response plan that addresses prevention, shared risk, mitigation, and recovery.

• Leveraging your intellectual capital: human capital, structural capital, and social capital.

Lunch |12:05–12:50 p.m. Concurrent Sessions–Please Select One 12:50–4:25 p.m. Success Leave Clues: Career Strategies for New Professionals | Ron Baker Learn about best practices and uncover what you need to know to thrive in the accounting profession. Learn the traits of a true professional, improve problem-solving skills, risk management, leadership skills, and more. It is designed to generate thinking and discussion about the significant changes, trends, and demographics facing us in the future. • What it means to be a professional. • The old practice business model vs. the new practice business model–why the pyramid and partnership model are obsolete. • The knowledge worker owns the means of your firm’s production and what this means for how we measure their effectiveness. • The gap in GAAP, the invisible balance sheet, and

• Leaders are readers–Baker’s dozen best business books. • The importance of having mentors, whether you know them or not. • Life-long education is not about hours but learning.

Individual Income Tax Update | Pamela Davis-Vaughn Obtain the most current knowledge on tax law developments, including discussions of the planning opportunities available to your individuals. • Impact of tax rates on individuals under tax reform. • Practice aids, including 2013 inflation-adjusted amounts, mileage rates, and more. • The latest IRS rulings and procedures affecting individuals, along with a summary of the most important tax court decisions. • Other late-breaking tax law changes.

Auditing Update | Jennifer Elder Do you understand the clarity standards? Have you implemented all of the changes correctly? This session will highlight changes every auditor needs to know along with explanations, examples, and practical advice on key issues.

LEAP Task Force Happy Hour | 5:00–7:00 p.m. Join ISCPA’s young professionals task force, LEAP (Leaders Emerging in the Accounting Profession) for some down time at The Airliner bar and restaurant. Connect with your peers and other conference attendees in a fun, laid-back environment. Complimentary appetizers and a cash bar will be available. Everyone is welcome to attend!

Friday, September 27, 2013 Registration & Continental Breakfast 7:15–8:00 a.m. Concurrent Sessions–Please Select One 8:00 –11:35 a.m. Everyday Economics | Ron Baker Most people think of economists as seers who try to predict the future of the stock market, government deficits, unemployment, etc. This is far too parochial a view of what economists do. The really fascinating economists are engaged in the study of human behavior. The most fertile minds in economics today deal with observing the world and trying to understand it… not predict it. This session will explore how economics can be used to explain everyday behavior, in myriad of real life situations. By discussing the work of the most influential and seminal minds in the economics profession, attendees will gain an appreciation for how the economist views the world and the power of their theories to explain why people behave the way they do and then be able to apply it to their approach of doing business. • Learn why economists assume people are “rational” even though, at times, this assumption appears to be false. • Realize that humans are comprised of both Mr. Spock–our rational side–and Homer Simpson– our irrational side, and how to optimize decisions from both. • Introduction to behavioral economics and our irrational tendencies: loss-aversion; endowment and noncash effects; status quo, confirmation, hindsight, and memory biases; anchoring and framing influences.

• Understand the principle of revealed preference, and why there is usually a gap between what people say and what they do. • Gain an understanding of the critical importance of price theory, and how prices transmit information, allocate resources, and distribute income.

Should Client Expenditures Be Capitalized or Expensed–New IRS Regulations | Pamela Davis-Vaughn Understand the rules for expenditures and how to differentiate among the old, temporary, and new tax treatments for expenditures. Learn how to apply the rules by using IRS examples in the regulations and guides. • Tax treatment of incidental and non-incidental materials and supplies. • Electing to capitalize and depreciate rather than expense. • Rotable spare parts. • Applying the special de minimis rule allowing taxes to expense rather than capitalize. • Distinction between repair and capitalization. • Definition of capital expenditures. • Expenditures that facilitate and do not facilitate the acquisition of property. • Definition of a unit of property. • Special rules relating to lessors and lessees for improvements to leased property. • Direct and indirect costs of improving properties. • Activities treated as routine maintenance. • Rules relating to betterments and restorations of buildings.

Accounting Update | Jennifer Elder Hear a fast-paced, broad-based overview of current accounting issues and challenges. Learn how to implement new reporting standards. Review the new financial reporting choices available to companies including the AICPA’s SME framework.

Lunch |11:35 a.m.–12:20 p.m.

Concurrent Sessions–Please Select One 12:20-3:55 p.m. Pricing on Purpose | Ronald Baker This session will provide alternatives to pricing your products and/or services based on customer-perceived value, rather than cost-plus pricing methods. By learning to avoid the deleterious consequences of cost-plus pricing, you will communicate better with customers, be able to discover their expectations up-front, enhance their loyalty and retention, and increase your profitability. • Why are we in business and what do customers really buy? • The first and second laws of marketing. • How behavioral economics influences prices.

Strategic Skills for Finance | Jennifer Elder The world has changed. Has your finance department changed with it or are processes the same? Learn skills to shift the focus from historical financial presentation to future strategic planning. Move from being a disliked cost center to an appreciated, valueadded resource within your organization.

Top 10 Reasons to Attend 1 Multiple sessions relevant to CPAs in business & industry–it’s not all tax!

• The genesis of cost-plus pricing–and why so many businesses still cling to it.

2 Meet other professionals like yourself…connect and share best practices. Remember to bring your business card!

• All customers are not created equal and the economics of price discrimination.

3 Help celebrate the 60th anniversary of this conference–cake will be served!

• Learn why cost-plus pricing has debilitating effects on the operation of your business:


- Penalizes innovation, ingenuity and creativity, and rewards inefficiency and profligacy. - Emphasizes and rewards based upon volume and effort rather than creativity, profitability, and results. - Imparts a technician-like attitude among associates, rather than cultivating customer service professionals. - Actually reduces revenue when investments in technology reduce the cost required to produce various products and services.

Business Tax Update | Pamela Davis-Vaughn Get the most current knowledge on tax law developments, including planning opportunities available to S corporations, partnerships, LLCs, and LLPs. • Business tax changes under tax reform. • A review of the key cases, rulings, and tax law changes affecting S corporations, partnerships, LLCs, and LLPs. • Late-breaking tax legislation.

Attend for FREE in 2014–submit an idea to rename the conference. If your idea is chosen, your fee for next year is waived ($440 value).

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 the public pianos during your breaks in the Iowa City Ped Mall. 10 Enjoy the fun, downtown Iowa City location close to dining, U of I campus activities, and much more! *Refer to page 7 for details.

Featured Speakers Meet Ron Baker, CPA Ron Baker he is the founder of VeraSage Institute, the leading think tank dedicated to improving the professions for posterity. He is located in Petaluma, CA. Ron started his career in 1984 with KPMG’s Private Business Advisory Services in San Francisco. As a frequent speaker, writer, and educator, his work takes him around the world. He is the author/co-author of several books including: • Professional’s Guide to Value Pricing • The Firm of the Future: A Guide for Accountants, Lawyers, and Other Professional Services • Pricing on Purpose: Creating and Capturing Value • Measure What Matters to Customers: Using Key Predictive Indicators • Mind Over Matter: Why Intellectual Capital is the Chief Source of Wealth • Implementing Value Pricing: A Radical Business Model for Professional Firms Ron has been appointed to the American Institute of CPAs Group of One Hundred, a think tank of leaders to address the future of the profession, and named on Accounting Today’s Top 100 Most Influential People in the profession.

Meet Pamela Davis-Vaughn, CPA, MBA Pamela Davis-Vaughn is a general practitioner providing accounting, tax, and consulting services to clients across the United States from her office in Painted Post, New York. She has designed and taught undergraduate and graduate courses in state and local tax at Texas universities, including Baylor and Texas Tech, and has been a highly rated speaker at the Controller’s Roundtable, a sponsored event for controllers of automobile dealerships in Texas. In addition to her accounting practice, Pam and her husband, Darryl, are owners of One Main Place Farms, an organic farming operation located in upstate New York. Pam has over 25 years of experience in both public and private accounting sectors. Her public experience ranges from a Big Four firm where she assisted several Fortune 500 companies in restructuring their operations to provide state income and franchise tax savings, participated on the mergers and acquisitions team, and served as the Southwest Area Employment Tax practice leader to providing tax consulting services for closely held businesses of a 16-partner, 100-staff Dallas CPA firm. Her experience in the private sector as CFO of a Dallas based manufacturer servicing the telecom industry and tax and accounting manager of a large independent oil and gas company provides her with significant insight into the challenges faced by those practicing in industry.

Meet Jennifer Elder, CPA, CMA, CIA, CFF, CGMA Jennifer Elder is the president of The Sustainable CFO, a business that helps business owners, executives, and CPAs enhance their success skills and find that elusive work-life balance. She is located in Edgewater, MD. Jennifer also assists businesses in developing a strategy for integrating sustainability into strategic plans and day-to-day operations. In addition, Jennifer teaches finance at Antioch University New England, is a trainer with the AICPA and Business Learning Institute, and is a contributing writer for TriplePundit, a web community on ethical, sustainable, and profitable business. Jennifer’s career includes work in public accounting, an accounting department chair, and CFO in the private sector. She has worked in manufacturing and distribution, residential construction and development, software development, and angel investing. She is also involved in nonprofits, serving on the board of Rude Ranch Animal Rescue. When it comes to instruction, Jennifer believes that in order for training to be effective it must be: approachable, applicable, interactive, and interesting. She focuses on finding the essence of a topic, explaining so that it can be understood at all levels, illustrates with real-life examples, creates opportunities to apply the knowledge, and does it with an infectious enthusiasm. Her goal is to ensure that everyone walks away with something they can use and apply immediately.

Conference Details Location | Sheraton Iowa City Hotel, 210 S Dubuque St, Iowa City, IA 52240. Overnight accommodations | 800-848-1335, 319-337-4058 (ask for in-house reservations). Identify yourself as an attendee of the Iowa Society of CPAs conference to receive the group rate of $129 (includes parking in adjacent parking garage). Reservations must be made by September 4, 2013.

Registration fee includes | course materials, breaks, and lunch. Registration policies | No refund for cancellation within 7 calendar days of conference. Transfers received less than 4 days prior will be subject to a fee. Cancellations not accepted the day of the conference. For complete registration policies, go to

Celebrate 60 Years! Win a $500 gift card! | Tell your peers and co-workers–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 a drawing to win a $500 gift card. If 60 new people attend, two $500 gift cards will be given away.

Help re-name this conference | As this conference embarks on its next 60 years, help ISCPA re-name the conference to reflect the diversity of CPE topics now offered. Submit your ideas via email to or in the suggestion box at the conference. If your idea is selected, ISCPA will waive your 2014 conference registration fee (a $440 value).

Connect | Enjoy happy hour at Iowa City’s favorite watering hole, The Airliner bar and restaurant on Thursday, September 26 from 5:00–7:00 p.m. Connect with your peers and the happy hour hosts, The LEAP Task Force. Complimentary appetizers and a cash bar will be available. Everyone is welcome to attend!

Iowa Society of CPAs 950 Office Park Rd., Ste 300, West Des Moines, IA 50265 Phone: 515-223-8161 | (800) 659-6375 (in Iowa) | Fax: 515-223-7347 Email:

Registration Form 60th Annual Fall Tax & Accounting Conference | September 26-27, 2013 Registration available online at: Name: ___________________________________________ Firm/Company: ____________________________________ Address: __________________________________________ City, State, Zip: _____________________________________ Daytime Phone: ___________________________________ Email: ____________________________________________ Confirmation Method: ❐ Email ❐ Mail Method of Payment: ❐ Visa ❐ MasterCard ❐ Check enclosed Credit Card Number: ________________________________ Expiration Date: ____________ ❐ Personal Card ❐ Firm Card For special services, including dietary needs, contact ISCPA prior to event at or (800) 659-6375.

Registration Fees September 26 & 27 Fees: ❐ ISCPA member discounted fee: $440 - if postmarked by 9/12/13 ❐ Nonmember discounted fee: $490 - if postmarked by 9/12/13 ❐ ISCPA member standard fee: $470 ❐ Nonmember standard fee: $520

Breakout Sessions Selections: September 26 | select one from each time period: 8:30 a.m. - 12:05 p.m. ❐ The Business of the Future ❐ Key Issues CPAs Need to Know About the Patient Protection & Affordable Care Act ❐ Disaster Recovery Planning 12:50 - 4:25 p.m. ❐ Success Leaves Clues: Career Strategies for New Professionals ❐ Individual Income Tax Update ❐ Auditing Update 5:00 - 7:00 p.m. - LEAP Happy Hour - The Airliner bar & restaurant ❐ Yes, I will attend ❐ No, I will not attend September 27 | select one from each time period: 8:00 - 11:35 a.m. ❐ Everyday Economics ❐ Should Client Expenditures Be Capitalized or Expensed– New IRS Regulations ❐ Accounting Update 12:20 - 3:55 p.m. ❐ Pricing on Purpose ❐ Business Tax Update ❐ Strategic Skills for Finance

One-Day Only Fees: ❐ September 26 or ❐ September 27 ❐ ISCPA member discounted fee: $280 - if postmarked by 9/12/13 ❐ Nonmember discounted fee: $330 - if postmarked by 9/12/13

Recommended CPE credit is 8 hours per day.

❐ ISCPA member standard fee: $310 ❐ Nonmember standard fee: $360

join the conversation!

Twitter hashtag: #60cpa

Iowa Society of CPAs 950 Office Park Rd., Ste 300, West Des Moines, IA 50265 Phone: (515) 223-8161 | (800) 659-6375 (in Iowa) | Fax: (515) 223-7347 | Email:

ISCPA Fall Tax & Accounting Conference  

Conference brochure for the 2013 ISCPA Fall Tax & Accounting Conference, Iowa City.

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