MACPA Statement // April 2018

STATEMENT MACPA’S

APRIL 2018

Maryland’s paid sick leave law: What you need to know Page 4

ALSO INSIDE Change will happen yesterday, not tomorrow

Page 8

Maryland Association of Certified Public Accountants, Inc.

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CONTENTS April 2018 | Maryland Association of Certified Public Accountants, Inc.

CHAIR’S COLUMN.............................................................................. 2 FEATURES Maryland’s paid sick leave law: What you need to know...................................... 4 Change will happen yesterday, not tomorrow...................................................... 8

DEPARTMENTS Taxation................................................................................................................ 11 Public Practice...................................................................................................... 17 Business & Industry.............................................................................................. 18 Innovation............................................................................................................ 20 Technology........................................................................................................... 25 Financial Planning................................................................................................ 26 From Our Partners............................................................................................... 28

MEMBER NOTES................................................................................ 35 CLASSIFIEDS........................................................................................... 36 UPCOMING EVENTS & COURSES.................................... 39 ADMINISTRATION

TECHNICAL SERVICES

Pam Bartoshek pamb@macpa.org

Cora Edwards cora@macpa.org

Amy Stumme amy@macpa.org

MaryBeth Halpern marybeth@macpa.org

COMMUNICATIONS

PROFESSIONAL DEVELOPMENT

Bill Sheridan bill@macpa.org FINANCE Margaret DeRoose margaret@macpa.org Laura Swann, CPA lauras@macpa.org MEMBER SERVICES Lauren Baker lauren@macpa.org Rebekah Brown, CPA rebekah@macpa.org

Natalie Atonakas @macpa.org Pamela C. Devine pam@macpa.org Chris Dougherty chrisd@macpa.org Amy Puente amyp@macpa.org Laura Dorsey-Shaner laura@macpa.org Terri Smith terri@macpa.org

PRODUCT DEVELOPMENT

Krislyn Suljak krislyn@macpa.org

Akesha Brown akesha@macpa.org

Jennifer Stevens jennifer@macpa.org

Debbie Zizwarek debbie@macpa.org

Dee Sullivan dee@macpa.org

APRIL 2018

Emily Trott emily@macpa.org Ryan Wey ryan@macpa.org

Mark Cissell, CPA Robert Jirsa, CPA Keith Parker, CPA

Rebecca Zimmerman becca@macpa.org

Andrew Page, CPA

2017-2018 BOARD OF DIRECTORS

MACPA EXECUTIVE DIRECTOR

OFFICERS

J. Thomas Hood III, CPA tom@macpa.org

Kenneth Kelly, CPA, CGMA Chair Samantha Bowling, CPA, CGMA Vice Chair Ray Speciale, Esq., CPA Secretary/Treasurer Lisa Cines, CPA Immediate Past Chair DIRECTORS Christina Aspell, CPA Raj Bhaskar Avonette Blanding, CPA Wallace Boston, Ed.D., CPA, CGMA, CMA

SENIOR STAFF

MACPA DEPUTY EXECUTIVE DIRECTOR Jacqueline E. G. Brown jackie@macpa.org DIRECTOR OF FINANCE AND ADMINISTRATION Skip Falatko, CPA skip@macpa.org

WE WANT TO HEAR FROM YOU! See below to submit content Bill Sheridan | MACPA Dulaney Center II 901 Dulaney Valley Road Suite 800 Towson, MD 21204 FOR CONTENT SUBMISSION: bill@macpa.org feedback@macpa.org TO ADVERTISE IN THE STATEMENT: AmyP@macpa.org AmyM@macpa.org P: 410.296.6250 F: 410.296.8713 Toll free: 800.782.2036 The MACPA reserves the right to edit all submissions for grammatical style and / or length.

Statement of fact and opinion are made by the authors alone and do not imply an opinion on the part of the officers or members of MACPA. The Statement is published four times a year by the Maryland Association of Certified Public Accountants, Inc. Bill Sheridan, Editor Amy Moran, Advertising Sales

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CHAIR’S COLUMN

THROUGH LEGISLATIVE ADVOCACY, OUR PROFESSION GROWS STRONGER

BY KEN KELLY, CPA, CGMA

CONSULTANT, KK ADVISORY, LLC Busy season is entering its homestretch, and not just for tax professionals.

January through April is also busy season for the MACPA’s legislative team. Our mission each spring is simple: Protect the profession by promoting sound, reasoned legislation in Annapolis … and by opposing the bad stuff.

“Simple” doesn’t mean “easy,” though.

There’s a lot of orchestration and choreography that takes place behind the scenes of our advocacy work. And though every General Assembly session leaves the association’s staff and legislative volunteers scrambling, the last few months in Annapolis were especially chaotic.

“Lawmakers introduced 3,118 pieces of legislation this year — 1,279 bills and resolutions in the Senate and 1,839 in the House of Delegates,” Danielle Gaines wrote for The Frederick News-Post.

“That’s more in one year than in any other session dating back to 1987.” MACPA volunteers testified in person or in writing — sometimes repeatedly — to no fewer than 24 of of those bills.

Futurist Daniel Burrus is right: Increasing legislation and regulation is a “hard trend” — a future fact that will increasingly impact our profession as time goes on.

The sheer numbers are certainly daunting, but the potential impact of many of those bills on our profession is huge. Here are just a few of the issues that our legislative team has tackled this year: • Early in the session, as lawmakers on both sides of the aisle introduced proposals to insulate Marylanders from unintended consequences of federal tax reform, members of the MACPA’s Tax Advisory Group provided legislators from both parties with objective technical expertise and resources in

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an effort to help them craft reasoned, thoughtful legislation. As tax reformrelated bills make their way through the General Assembly, it’s comforting to know they were crafted with the input of Maryland’s CPAs. • Members of our State Tax Committee joined MACPA Executive Director Tom Hood in testifying before the Maryland Senate’s Finance Committee in helping resolve the state’s issues surrounding health savings accounts and high-deductible health plans, or HDHPs. The problem arose with the General Assembly’s passage of the Contraceptive Equity Act in 2016.

Among other things, the bill called for including vasectomies as a preventive health service — a move that had not been officially recognized by the IRS. Without the certainty of IRS approval, the tax status of HDHPs and HSAs in Maryland was unclear. As a result, many CPAs and other advisors could not in good faith recommend that clients contribute to HSAs with confidence that such contributions would be upheld by the IRS. In March, the IRS provided relief for non-compliant HSAs, thus restoring contributions and deductions as of Jan. 1, 2018. Meanwhile, two emergency bills addressing the issue are making their way through the General Assembly with the MACPA’s support.

• The MACPA joined business groups throughout the state in supporting proposals to delay the implementation of Maryland’s new paid sick leave law for six months. The proposed delay would have given employers some precious additional time to figure out how to comply with the law. Maryland’s Senate supported the delay, but on Feb. 15 the House Economic Matters Committee voted down a bill that would have delayed implementation of the law until July 1, making paid sick leave effective

immediately. In response, Maryland’s Department of Labor, Licensing and Regulation offered comprehensive answers to frequently asked questions regarding paid sick leave (see page 4), and MACPA partner SIG began offering answers of its own through webinars and other resources.

• In addition, an effort to bypass Maryland’s contributory negligence rule and enact comparative fault received an unfavorable report from the Senate Judicial Proceedings Committee. The bill would have applied comparative fault to motor vehicle accidents involving pedestrians or non-motorized vehicles. The MACPA has long opposed efforts to enact comparative fault and supports retaining Maryland’s current contributory negligence rule.

These are the most impactful, highestprofile examples of the MACPA’s legislative team in action, but our members worked on behalf of the profession on a number of other legislative issues as well, and they did it all while buried in tax season work.

For everyone who wrote a letter, picked up a phone, or testified on our profession’s behalf, we thank you.

The more people who are doing work like that, the stronger our profession becomes. I hope you’ll consider joining our legislative advocacy efforts. Contact Mary Beth Halpern, the MACPA’s manager of advocacy and technical services, at (443) 632-2330 or marybeth@macpa.org for details.

It’s been a busy busy season, but our profession and Maryland’s business economy are stronger now than they were in January, thanks in part to the work of our legislative volunteers.

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Maryland’s paid sick leave law: What you need to know Maryland DLLR offers answers to frequently asked questions about the Maryland Healthy Working Families Act

F RO M T HE MARYLAND DEPART MEN T O F LABO R, LIC ENS ING AND REGULATIO N

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STATEMENT

Note: With the Feb. 11 enactment of the Maryland Healthy Working Families Act, Maryland businesses with 15 or more employees now must provide up to five days of paid sick leave, while businesses with fewer than 15 employees must offer five unpaid sick days to workers. The following excerpts from FAQs provided by Maryland’s Department of Labor, Licensing, and Regulation provide details on complying with the new law. They are reprinted here with permission. The original FAQs are found in their entirety at bit.ly/sickleaveFAQs. These FAQs are preliminary responses to questions about the Maryland Healthy Working Families Act and may be subject to change. Please note that the DLLR cannot provide legal advice regarding specific employer leave policies or employee exemptions under the law. These FAQs are for informational purposes and are intended to provide general guidance to employers and employees about the requirements of the law.

If you have questions or comments about these FAQs, please e-mail the Office of Small Business Regulatory Assistance at small.business@maryland.gov.

APPLICABILITY AND ELIGIBILITY Which employers are required to provide earned sick and safe leave?

All employers with employees whose primary work location is in Maryland are required to provide earned sick and safe leave, regardless of where the employer is located. Employers who employ 15 or more employees are required to provide paid earned sick and safe leave. Employers with 14 or fewer employees are required to provide unpaid earned sick and safe leave.

Who is entitled to accrue earned sick and safe leave?

All employees who work in Maryland are entitled to accrue sick and safe leave unless they are exempt from coverage under the law.

How does leave accrue?

Leave accrues at the rate of one hour for every 30 hours that an employee works. An employee is not entitled to accrue sick and safe leave during (1) a two-week pay period in which the employee worked fewer than 24 total hours; (2) a one-week pay period if the employee worked fewer than a combined total of 24 hours in the current and immediately preceding pay period; or (3) a pay period in which the employee is paid twice per month and worked fewer than 26 hours in the pay period. The department recommends that an employer develop a policy addressing the issue of whether an employee is entitled to accrue paid sick and safe leave during a period of paid leave status such as paid holiday hours. The leave hours under the law are the minimum number of hours an employee is entitled to earn and accrue. An employer may provide more leave for its employees.

What is the maximum amount of leave that an employee can accrue and carry over?

An employee is entitled to accrue 40 hours of sick and safe leave in a year regardless of the number of hours worked. An employee is entitled to carry over earned but unused sick and safe leave from one year to the next unless it would provide the employee with more than 64 hours of accrued leave. Additionally, if the employer awards employees the full amount of sick and safe leave at the beginning of the year, the employer may elect to not allow the carryover of unused leave.

Are any employees exempt from accruing earned sick and safe leave?

The following types of employees are exempt from the requirements of the law: 1. E mployees who work fewer than 12 hours a week; 2. C ertain independent contractors; 3.

Certain associate real estate brokers and real estate salespersons; 4. Individuals who are younger than 18 years of age before the beginning of the year; 5. Individuals employed in the agricultural sector in certain agricultural operations as defined in §5-403 of the Courts and Judicial Proceedings Article of the Maryland Annotated Code; 6.

Certain construction workers covered by a collective bargaining agreement; 7.

Certain employees working on an as-needed basis in a health or human service industry; and 8. C ertain employees of a temporary services agency.

Does the Maryland Healthy Working Families Act preempt local county paid sick leave laws?

The Act preempts local paid sick and safe leave laws enacted on or after Jan. 1, 2017. Only Montgomery County enacted a sick and safe leave law prior to Jan. 1, 2017.

CALCULATION OF THE 15-EMPLOYEE THRESHOLD Does an employer include full-time, part-time, temporary, and seasonal employees in calculating the 15-employee threshold?

Yes. An employer is required to include all employees in determining whether the employer has met the 15-employee threshold, including full-time, part-time, temporary, and seasonal employees. All employees working in Maryland are included in the threshold determination regardless of whether they would be eligible for sick and safe leave benefits under the law.

In calculating the 15-employee threshold, does an employer include employees that work in Maryland as well as employees that the employer employs in other states?

The commissioner of labor and industry will consider only those employees employed in Maryland. All employees of the employer working in Maryland will be considered in determining the 15-employee threshold, including part-time, seasonal, and temporary employees.

Does this law apply to an employer who is based out of state and has employees who work in Maryland? What about a Maryland employer who has employees who live and work in another state?

The law applies to employers with employees whose primary work location is in Maryland even if the employer is located out of state. Employees whose primary work location is in Maryland are entitled to accrue leave under the Act. If a Maryland company has an employee who lives and works exclusively in another state, the employer could, but would not be required, to provide sick and safe leave to that employee.

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APRIL 2018

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If an employer has multiple businesses in the state, is each company looked at separately in calculating the 15-employee threshold?

The commissioner suggests that an employer consult with a financial or legal advisor with regard to whether each business entity would be considered a separate employer. If the commissioner received a complaint that required consideration of this issue, the commissioner would take into account whether each entity was considered a separate employer for other legal purposes including taxes, unemployment insurance, and workers’ compensation coverage as well as the relationship between the entities.

How does an employer calculate the average number of employees?

In determining whether the employer is required to provide paid or unpaid earned sick and safe leave, the employer must calculate the average monthly number of employees employed by the employer during the immediately preceding year. An employer would take the total number of employees working in each month of the preceding year, add the numbers together, and divide by 12.

If an employer employs fewer than 15 employees, are they exempt from the requirements of this law?

If the employer’s average monthly number of employees for the preceding year is fewer than 15, the employer may, but is not required, to provide paid sick and safe leave. However, the employer would be required to provide unpaid sick and safe leave and follow the same tracking and employee notification requirements that employers with 15 or more employees must follow.

SICK LEAVE ACCRUAL AND TRACKING REQUIREMENTS Can an employer front load earned sick and safe leave at the beginning of the year, and if so, what are the implications for leave carryover? What happens if an employer does not front load earned sick and safe leave?

An employer may elect to award 40 hours of paid / unpaid earned sick and safe leave at the beginning of the year. The employer designates when the year starts and ends. If an employer front loads the leave, the employer may establish a policy whereby the employee is not permitted to carry over any unused leave at the end of the year. Alternatively, an employee can accrue earned sick and safe leave at the rate of at least one hour for every 30 hours the employee works. Under the latter approach, employees are permitted to carry over earned sick and safe leave up to a maximum accrual amount of 64 hours.

Can an employer front load sick leave for full-time employees but provide that part-time employees earn leave on an accrual basis?

Yes. An employer could front load leave to full-time employees but provide that part-time employees earn leave on an accrual basis.

The department recommends that such a policy be in writing, clearly communicated to employees, and applied consistently with regard to all employees.

If an employer already has a paid leave policy for vacation time, for example, can that leave count toward earned sick and safe leave?

If an employer has an existing leave policy that provides leave benefits that are equivalent to or greater than those provided under the earned sick and safe leave law, the employer does not need to provide additional leave. The commissioner recommends

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consulting with a legal or financial advisor to ensure that an employer’s policy provides benefits that are equal to or greater than those provided under the law. If an employer has an existing policy that provides for paid leave that is equal to or greater than that provided by the law, the commissioner suggests that the employer refer to the leave as Paid Time Off (PTO) and have a written policy that clearly communicates to the employees that they are permitted to use PTO for any of the reasons and under the same conditions that are set forth in the earned sick and safe leave law. It is also suggested that the employer advise employees that it will not be providing any additional leave above and beyond what is provided, assuming it equals or exceeds any leave that the employees would otherwise be entitled to under the earned sick and safe leave law.

Under the earned sick and safe leave law, an employer may not be required to allow an employee to use more than 64 hours of earned sick and safe leave in a year. If an employer currently provides employees with 10 days of paid time off, can the employer limit employee usage of time off under the earned sick and safe leave law to 40 hours, or must an employer lift that to 64 hours?

If an employer has a paid time off policy that provides for paid time off in an amount equal to or greater than the leave that an employee would otherwise be entitled to under the law, the employer does not need to provide additional leave. Under the law, if an employer front loads the earned sick and safe leave, the employer is not required to allow the employee to carry over the leave. If under an employer’s current policy, employees have at least 40 hours of leave available for immediate use at the beginning of the year under equivalent or greater terms than those set forth in the Act, an employer would not be required to allow employees to carry over unused leave.

If employees work an average of nine hours a day, is an employer required to compensate the employee for the number of hours they would have worked in the day?

Under the law, an employee accrues one hour of sick and safe leave for every 30 hours that the employee works. Unless an employer front loads the leave at the beginning of the year, an employee may only use the number of paid sick and safe leave hours that the employee has accrued. Thus, if an employee has only accrued four hours of sick and safe leave, the employee is only entitled to use four hours of leave regardless of the number of established hours in the work day. If an employer has a ninehour work day and the employee has accrued nine or more hours of sick and safe leave, the employee would be permitted to use the leave for the duration of the shift.

An employee eligible for earned sick and safe leave accrues leave at the rate of one hour for every 30 hours worked.

Do all the hours need to be worked in Maryland?

The hours do not need to be worked in a specific place in order for the employee to be eligible to accrue leave. If the employer has employees in several states, the law would only apply to employees whose primary work location is Maryland.

An employee whose primary work location is in Maryland but performs some work outside the state would be entitled to accrue leave for the time spent working in other states.

STATEMENT

What about seasonal employees? Are they covered by the law?

Seasonal employees are included in determining whether an employer has met the 15-employee threshold. Assuming they meet all the other requirements of the law, seasonal employees would be entitled to accrue leave at the rate of one hour for every 30 hours worked. However, under the law, an employer is not required to permit an employee to use any accrued leave for the first 106 days (15 weeks) of employment. If an employee is reinstated by an employer within 37 weeks of being separated, the employee is entitled to have any earned and unused sick leave reinstated.

PERMISSIBLE USES OF EARNED SICK AND SAFE LEAVE When can employees start using earned sick and safe leave?

For employees who have been employed for at least 106 days before Feb. 11, 2018, they may use leave as it is accrued.

Employees who are employed fewer than 106 days prior to Feb. 11, 2018, as well as new employees hired on or after Feb. 11, 2018, must wait 106 days from their date of hire to begin using earned sick and safe leave.

What can an employee use earned sick and safe leave for?

Earned sick and safe leave may be used for the following: • To care for or treat the employee’s mental or physical illness, injury, or condition; • To obtain preventative medical care for the employee or the employee’s family member; • To care for a family member with a mental or physical illness, injury, or condition; • For maternity or paternity leave; or • For an absence due to domestic violence, sexual assault, or stalking committed against the employee or the employee’s family member under certain circumstances.

EMPLOYER VERIFICATION OF SICK AND SAFE LEAVE USE When can an employer require verification of an employee’s use of earned sick and safe leave?

An employer may require verification for use of earned sick and safe leave if the employee (1) used sick and safe leave for more than two consecutive scheduled shifts, or (2) the employee used the leave during the period between the first 107 and 120 calendar days of employment and the employee and employer agreed to the verification at the time of hire. An employee is required to provide reasonable advance notice of leave use if foreseeable.

APRIL 2018

If the need to use leave is not foreseeable, then the employee must provide notice as soon as practicable. An employer is permitted to deny a request to take earned sick and safe leave if the employee fails to provide notice and the employee’s absence will cause a disruption to the employer.

What happens if an employee uses earned leave between the first 107 and 120 calendar days of employment, the employer requests verification, and the employee fails to provide the requested documentation?

The law provides that an employer may require an employee to provide verification if the employee wants to use leave between the first 107 and 120 days that the employee was employed by the employer if the employee agreed at the time of hire to provide the verification under mutually agreeable terms. The law further provides that if these requirements are met and an employee refuses to provide verification, the employer may deny a subsequent request to use leave “for the same reason.” If the commissioner received a complaint, the commissioner would have to consider the facts of the particular case to determine whether the request to use leave was “for the same reason.”

REHIRE REQUIREMENTS What happens to the earned sick and safe leave of an employee who separates from employment but is later rehired?

The law requires that if an employee is separated for less than 37 weeks and returns to work for the employer, the employer has to reinstate any earned but unused sick and safe leave (whether paid or unpaid).

For an employer who offers paid time off, how does the employer determine the portion of the paid time off that was considered sick leave versus vacation or personal leave when the employee is rehired?

If an employer rehires an employee within 37 weeks of separation, the employer could satisfy this requirement by reinstating any unused paid time off that the employee had available at the time of separation, assuming the amount of paid time off is equivalent to or greater than the amount of leave the employee would otherwise have been entitled to under the Act unless the employer had already paid the employee for all earned but unused leave at the time of separation.

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Change will happen yesterday, not tomorrow Exponential advances in technology bring artificial intelligence to the masses. Will you take advantage?

B Y B I L L S H E R IDA N , CA E HERE’S WHY: For the past few years, the profession’s largest firms have been pumping money and resources into developing A.I. and cognitive learning solutions that will increase efficiency and productivity while better serving their clients.

Small and mid-size firms, meanwhile, often feel like they’ve been locked outside with their noses pressed against the windows, unable to find either the capacity or the money to take advantage of the latest advances in technology.

Not Samantha Bowling. As a partner with Garbelman Winslow CPAs, she was determined to find a way for her small firm to take advantage of game-changing technologies and play on the same level as the big boys.

Note: The following article originally appeared in the MACPA’s blog.

All of this talk about artificial intelligence disrupting our profession has seemed pretty…artificial to this point, hasn’t it?

Sure, the warning signs have been there, if you were paying attention.

IBM’s Deep Blue supercomputer defeated chess grandmaster Garry Kasparov in 1997, and we thought, “Hey … cool! Look what the machine can do!” Then we dismissed it and went back to work.

Fourteen years later, Deep Blue evolved into IBM Watson, and it defeated reigning “Jeopardy” world record-holder Ken Jennings at his own game, and we thought, “Hey … cool! Look what the machine can do!” Then we dismissed it and went back to work.

Just five years after that, KPMG announced it was applying the Watson technology to its entire suite of professional services, including audit, tax, and advisory services, and the accounting and finance world said, “Whoa.”

Even with the entire profession sitting up and taking notice, though, there was an air of “later rather than sooner” blowing through the profession. The prevailing attitude seemed to be, “We need to worry about this … but not now.”

Just 18 months after the KPMG announcement, though, it turns out that, yeah, we do need to worry about this … and now.

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She found it with MindBridge AI Auditor, an audit analytics software platform that (a) maximizes audit assurance by leveraging A.I. technology, and (b) doesn’t break the bank. Bowling says MindBridge’s solution is as accessible and affordable for small and mid-size firms as it is for the profession’s largest firms — and it allows Garbelman Winslow auditors to look at all transactions rather than just small samples. That’s a powerful differentiator for the firm.

Welcome to the world of exponential change.

In the interest of transparency, MindBridge AI is a strategic partner of the MACPA’s, and Samantha Bowling is a member of the MACPA’s Board of Directors.

But that doesn’t detract from the main point: Technology that was available and affordable to only the world’s largest firms just 18 months ago is now available to everyone, everywhere, and at a fraction of the cost.

How will you leverage that opportunity? How will you position your organization to take advantage of the opportunities exponential change offers … with the understanding that that change will happen yesterday, not tomorrow?

Get in front of this stuff … or you’ll be left woefully behind.

Bill Sheridan is editor of The Statement and the MACPA’s chief communications officer.

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STATEMENT

TAXATION Tax reform and Code Section 199A: A summary B Y DE NN I S C . P ON TON , CPA PART I: DEFINITIONS AND CLARIFICATIONS Taxable Income is clarified for the purpose of 199A to mean the taxable income of the taxpayer without regard to the 199A deduction. The deduction is from taxable income.

Most of the conversation about the Tax Cuts and Jobs Act of 2017 has focused on some of the easier-to-discuss provisions of the law, including the increase in the personal standard deductions, the $10,000 ceiling on deductible state and local taxes, home mortgage and home equity interest changes, lower tax rates, and a major rate reduction for corporations.

But tucked away inside this bill, and not receiving the attention that it deserves, is the new IRC Section 199A, a potential boon to small business owners operating as pass-through entities.

Section 199A, “Deduction for Qualified Business Income of Pass-Through Entities,” introduces us to some new terms and concepts like qualified property, specified service trade or business, applicable percentage, threshold amount, and phase-in. It provides a basic calculation, applying exceptions along the way when a taxpayer’s circumstances meet established criteria. As these exceptions arise, additional tests are applied utilizing qualifying business income, W2 wages, qualified property, taxable income, threshold amounts, and phase-in amounts. While complex, the code section offers a potentially significant deduction to all qualifying taxpayers, including the self-employed. C corporations are not eligible.

While it appears to favor businesses that pay wages or are heavily invested in tangible capital assets, even those that do not pay wages can benefit a great deal from this lucrative provision. In conjunction with wages and property, characterization of income will help to drive the deduction for those with larger incomes, making entity choice and reasonable compensation critical factors in determining a taxpayer’s 199A amount.

Purposely excluded from this discussion is the treatment of REIT dividends, cooperative dividends, and income from publicly traded partnerships, which also receive favored treatment under the section.

What follows are limited definitions of the 199A concepts based solely upon my interpretation, followed by an explanation of each of the four methods I have uncovered to calculate the deduction. It is highly recommended that you familiarize yourself with the code section to draw your own conclusions.

A qualified trade or business is any trade or business except a specified service trade or business defined under IRC Section 1202(e)(3)(A) or the trade or business of performing services as an employee.

A key observation in 1202(e)(3)(A) is that a specified service trade or business includes any trade or business in which the principal asset of such trade or business is the reputation or skill of one or more of its employees. In addition, for the purpose of the 199A deduction, engineers and architects have been excluded from the 1202(e)(3)(A) definition, presumably because they actually contribute to the construction of property. It should be noted that the conduct of a U.S. trade or business denotes a considerable, continuous, and regular course of activity by the taxpayer or through an agent, partnership, estate, or trust.

Qualified business income includes all items of income, gain, deduction, and loss that are effectively connected with the conduct of a trade or business within the United States. Excluded from this definition are short- or long-term capital gains, dividends, portfolio interest, annuity income, and a few other modifications.

Qualified business income can be a loss!

Qualified business income amount equals the lesser of 20 percent of qualifying business income or, when applicable, the greater of 50 percent of qualified wages or the sum of 25 percent of qualified wages plus 2.5 percent of the unadjusted basis of qualified property. A loss from a qualified trade or business results in a negative QBIA of 20 percent of the loss and creates a reduction to the deduction.

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APRIL 2018

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TAXATION CONTINUED FROM PAGE 11

Qualified W2 wages mean all reported wages that the individual paid through their business, applicable only to the business, in their proportionate share when they own less than 100 percent of the business, and reported to the social Security Administration on a timely filed W2 with a 60-day grace period. Wages that don’t qualify include: • Wages paid under the table and not reported • Contractor payments reported on Form 1099 • Guaranteed payments to partners • Wages paid to your nanny or grounds maintenance household employee that you’ve selectively chosen to report through your business but have nothing to do with your business • Re-characterizations under audit • Wages reported too late to the Social Security Administration.

Qualified property is the unadjusted basis of property that is depreciable; that the business must have used at some point during the year to produce qualified income; that the business must still own at the close of the year and must be available to be used; and the depreciable period which has not ended before the close of the taxable year, where the depreciable period means the later of the date that is 10 years after the date the property is first placed in service, or the last day of the full year in the applicable recovery period that would apply to the property under section 168. That means that three-, five-, sevenand 10-year property currently qualifies if it was purchased in 2008 or later, while property with a life in excess of 10 years qualifies unless it has reached the end of its useful class life.

Threshold amount means $157,500 or 200 percent of that amount ($315,000) in the case of a joint return. It is simply a number that is utilized in the calculations to compute the 199A deduction. The number will be adjusted annually for inflation and coincidentally represents the upper limits of the 24 percent tax bracket, for what that’s worth.

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Applicable percentage is not defined in terms of words but rather by a mathematical computation. It is a multiplier that is applied solely to the qualified business income, W2 wages, and qualified property of a specified service trade or business to determine the amount of those items that qualify for the deduction.

PART II: CALCULATING THE 199A DEDUCTION

The applicable percentage is utilized when the taxpayer’s taxable income is greater than the threshold amount and less than the sum of the threshold amount plus the phase-in amount. In the case of an individual return, that translates to taxable income greater than $157,500 and less than $207,500. In the case of a joint return, taxable income would be greater than $315,000 and less than $415,000.

For each qualifying trade or business, the qualified business income amount equals the lesser of 20 percent of the qualified business income or the greater of:

You may recall that earlier we excluded specified service trades or businesses from the definition of a qualifying trade or business. However, it is under these circumstances, and when taxable income is below the appropriate threshold amount without regard to the phase-in amount, that a specified service trade or business is a qualifying trade or business. Once the taxable income of a taxpayer exceeds the combination of the threshold and phasein amounts, specified service trade or business income ceases to qualify.

The applicable percentage is calculated by subtracting from a base of 100 percent the ratio that taxable income exceeds the threshold amount divided by the phase-in amount.

EXAMPLE: A single taxpayer has $200,000 of taxable income. The threshold amount for this return is $157,500 and the phase-in amount is $50,000.

Base amount: 100% Taxable income: $200,000 Applicable threshold amount: $157,500 Excess: $42,500 Phase-in amount: $50,000 Ratio as a percentage: 85%

There are four different variations of computing the 199A deduction, each based upon a very specific set of circumstances.

Having an understanding of the basic calculation is critical to comprehend and apply these differing rules.

1. 50 percent of the W2 wages with respect to the qualified trade or business, or 2.

The sum of 25 percent percent of the W2 wages with respect to the qualified trade or business, plus 2.5 percent of the unadjusted basis immediately after acquisition of all qualified property.

This becomes the sum as set forth in 199A(b)(1)(A).

Stated another way, the qualifying amount is the greater of 50 percent of qualified wages paid or 25 percent of the qualified wages paid plus 2.5 percent of the qualified property, not to exceed 20 percent of the qualifying business income.

Method 1: Deduction computation where taxable income equals or is below the threshold amount: It appears Congress afforded the smallest of businesses a great deal of relief, as the law generously states in 199A(b)(3)(A) that in the case of any taxpayer whose taxable income for the taxable year does not exceed the threshold amount, that a modification exists requiring (not optional) the taxpayer to compute the deductible amount for each trade or business without regard to qualified W-2 wages paid or qualified property owned. This limitation also applies to a specified services trade or business.

This means you compute your qualifying amount by simply multiplying qualified business income by 20 percent. You ignore the wage and property calculations. It won’t get any easier than that.

Applicable percentage: 15%

STATEMENT

TAXATION “...Section 199A affords great savings and planning opportunities. It does so with pitfalls awaiting the unwary. “ Key takeaway: For a taxpayer with taxable income equal to or less than the applicable threshold amount, including a specified services trade or business, the qualifying business income amount for purposes of the 199A deduction is computed without regard to wages paid or property owned.

Method 2: Deduction computation where taxable income equals or exceeds the sum of the threshold amount plus the phase-in amount: This calculation is applied where taxable income equals or exceeds the threshold amount plus the phase-in amount. Recall the threshold amount is $157,500 for individuals and $315,000 in the case of a joint return. The phase-in amounts are $50,000 and $100,000 in the case of a joint return. Mathematically speaking, we achieve the limits when taxable income reaches $207,500 for individuals and $415,000 in the case of a joint return.

In this set of computations, we apply the general rule, utilizing the wage and property portions of the calculation.

Key takeaway: Under these circumstances, the qualifying business income amount for purposes of the 199A deduction will be limited to the greater of the wage / property calculation not to exceed 20 percent of qualified business income.

Point of interest: There is no deduction afforded to any taxpayer for specified services trade or business income under these circumstances. The deduction is completely phased-out. Only other qualifying trade or business income continues to qualify.

Method 3: Modification to limit where taxable income is in the phase-in range and 20 percent of QBI exceeds the wage / property calculation, qualifying trades or businesses other than specified services: The third set of computations applies to taxpayers with income from a trade or business, other than a specified service trade or business, where taxable income is within the phase-in range and the qualified business income amount exceeds the wage /property calculation result. Recall the threshold amount is $157,500 and $315,000 in the case of a joint return.

The phase-in amounts are $50,000 and $100,000 in the case of a joint return.

Therefore, this set of computations will be made when taxable is at least $157,500 but less than $207,500 income, for individual returns and at least $315,000 but less than $415,000 for joint returns.

If 20 percent of the taxpayer’s qualified business income exceeds the greater of the wage / property calculation, then the qualified business income amount is determined by subtracting from 20 percent of QBI the sum of 20 percent of the qualified business income less the wage / property calculation, multiplied by the ratio as determined by the excess of taxable income over the threshold amount, divided by the phase-in amount.

While the code refers to this as a phase-in, the calculation closes the gap between 20 percent of QBI and the wage / property calculation result using a phase-out ratio. In other words, it phases out the 20 percent of allowable QBI. In addition, the wage and property factor establishes the floor for our 199A deduction while in the phase-in range. It remains static while the ceiling, aka 20 percent of QBI, is lowered, until the two finally meet, signaling that you have completed the phase-in.

Let’s throw some numbers at it so we can see the mechanics.

EXAMPLE: A single taxpayer with a taxable income of $175,000 has qualified business income of $100,000 from a business that paid $30,000 in qualified wages and has $25,000 of qualified property.

Twenty percent of qualified business income is $20,000, as determined by multiplying the qualified business income of $100,000 by the ownership percentage of 100 percent times the qualifying amount of 20 percent. The wage / property calculation is lower, landing at $15,000 ($30,000 times 50 percent), thus requiring us to make an adjustment to close that $5,000 gap ($20,000 less $15,000). Therefore, we reduce the qualifying business income by $1,750, calculated as follows: First, calculate the applicable phase-out ratio: Taxable income: $175,000 Applicable threshold amount: $157,500 Excess: $17,500 Phase-in amount: $50,000 Ratio as a percentage: 35% Then, calculate a reduction amount to the qualified business income amount to arrive at a reduced qualified amount.

20% of qualified business income: Greater of wage / property calculation: Excess amount:

$20,000 $15,000 $5,000

Phase-out ratio: 35% Reduction amount: $1,750 Reduced qualified business income: $18,250 Key takeaway: The qualified business income amount for a trade or business other than a specified service trade or business with taxable income within the phase-in range is computed in one of two ways: CONTINUED ON PAGE 14

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TAXATION CONTINUED FROM PAGE 13

1. If 20 percent of qualified business income is less than the greater of the wage / property calculation, your QBIA is the 20 percent of qualifying income.

2.

If 20 percent of qualified business income exceeds the greater of the wage / property calculation, you apply an additional phase-out calculation to close the gap between 20 percent of QBI and the wage / property result, ultimately reducing your QBIA. Method 4 Specified services trade or business with taxable income in the phase-in range: This final set of calculations is a two-step process that applies the methodology we just covered but only after applying an applicable percentage to the initial amounts of qualified business income, W2 wages, and qualified property.

1. Step one: Compute the applicable amount.

2. Step two: Apply the phase-in limitation when required.

A taxpayer having qualified income from a specified services trade or business where their taxable income is above the threshold amount but below the sum of the threshold amount plus the phase-in amount must first compute their deduction using the applicable percentage, applying the applicable percentage to all items of income, gain, deduction, loss, W2 wages, and qualified property.

The applicable percentage is calculated by subtracting from a base of 100 percent the ratio that taxable income exceeds the threshold amount, divided by the phasein amount.

EXAMPLE: A single taxpayer operates a medical practice as a sole practitioner.

The practice has qualified business income of $265,000, paid $30,000 in qualified wages, and has $10,000 of qualified property. The taxpayer’s taxable income is $195,000.

The first step is to compute the applicable percentage of 25 percent, allowing us to compute the qualified business income amount of $13,250 as follows:

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Applicable percentage calculation Base amount: 100% Taxable income: $195,000 Applicable threshold amount: $157,500 Excess: $37,500 Phase-in amount: $50,000 Ratio as a percentage: 75% Applicable percentage:

75% 25%

Initial qualified business income: $265,000 $66,250 Initial % of qualified business income: 20%

$13,250

Applying the applicable percentage to all items leaves of us with the following: Combined qualified business income amount 1. Qualified business income: $66,250 20% $13,250 2. Qualified wages $7,500 50% $3,750 3. Qualified wages $7,500 25% $1,875 Unadjusted basis of qualified property: $2,500 2.5% $63

$1,938 4. Greater of step 2 or 3:

$3,750

Next, we compare the reduced 20 percent of qualifying business income with the greater of the wage / property calculation.

If the qualifying business income amount is less than the wage / property calculation, you’re done. If, on the other hand, the qualified business income amount exceeds the greater of the wage / property calculation, we must then apply the phasein rules covered earlier to close the gap between the qualified business income amount and the wage / property result.

Recall that when taxable income is below the threshold limit, you ignore the wage / property calculation. When taxable income is the phase-in range, the wage / property calculation is brought into the equation but is not the limiting factor when the qualified business income amount is greater.

In this case, the QBI percentage of $13,250 exceeds the greater of the wage / property calculated amount of $3,750 by $9,500. Therefore, we calculate the further adjusted QBIA as follows: Phase-in calculation Applicable percentage qualified business income: Greater of wage property calculation: Excess amount:

$13,250 $3,750 $9,500

Phase-out ratio: 75% Reduction amount if QBIA exceeds wage / property calculation: $7,125 Reduced qualified business income amount: $6,125

At first glance, we might have viewed the potential deduction as $53,000 ($265,000 times 20 percent). But through the mechanics of the applicable percentage calculation and the phase-in limitation, our deduction has been reduced to $6,125.

A critical component to note about this method is that once the taxpayer reaches the upper limit of the phase-in range, the wage / property calculated amount no longer serves as the floor. In fact, the floor drops out, leaving the taxpayer with no qualifying amount.

Key takeaway: The qualified business income amount for a specified service trade or business with taxable income within the phase-in range is computed in a two-step process: 1. First, apply the applicable percentage to all items of income, gain, deduction, loss, and W2 wages and qualified property.

2. S econd, if 20 percent of the qualified business income is less than the greater of the wage / property calculation, your QBIA is 20 percent of QBI. If 20 percent of your qualified business income exceeds the greater of the wage / property calculation, you apply an additional phase-in calculation to close the gap between 20 percent of QBI and the wage / property result.

STATEMENT

TAXATION Quick tip: The applicable percentage is the inverse of the phase-out percentage computed under Method 3. You can multiply any result under Method 3 by this inverse percentage to achieve your SSTB QBIA. The applicable percentage can be applied before or after, as long as it is applied.

EXAMPLE: A single taxpayer with a taxable income of $175,000 has qualified business income of $100,000 from a business that paid $30,000 in qualified wages and has $25,000 of qualified property.

Twenty percent of qualified business income is $20,000, as determined by multiplying the qualified business income of $100,000 by the ownership percentage of 100 percent times the qualifying amount of 20 percent. The wage / property calculation is lower, landing at $15,000 ($30,000 times 50 percent), thus requiring us to make an adjustment to close that $5,000 gap ($20,000 less $15,000). Therefore, we reduce the qualifying business income by $1,750, calculated as follows: First, calculate the applicable phase-out ratio: Taxable income: $175,000 Applicable threshold amount: $157,500 Excess: $17,500 Phase-in amount: $50,000 Ratio as a percentage: 35% Then, calculate a reduction amount to the qualified business income amount to arrive at a reduced qualified amount.

20% of qualified business income: Greater of wage / property calculation: Excess amount:

$20,000 $15,000 $5,000

Phase-out ratio: 35% Reduction amount: $1,750 Reduced qualified business income amount:

$18,250

To compute the SSTB amount, multiply the $18,250 by the inverse of the phase-out percentage, or 65 percent. Therefore, the SSTB QBIA becomes $11,863.

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FINAL THOUGHTS ON CALCULATIONS

SUMMARY

There is one final limitation to the deduction, regardless of the method applied above. In all circumstances, the deduction is going to be limited to the lower of your QBIA or 20 percent of the sum of taxable income less capital gains. For the purpose of this deduction, capital gains includes gains and dividends that qualify for the more favorable lower capital gains tax rate.

We’ve learned that there are four different calculations within the section, each applying to a specific set of facts and circumstances.

We’ve learned which businesses qualify and what a specified service trade or business is and how the deduction applies to it. We also learned what wages and property qualify, what thresholds are, what the applicable percentage is and what it applies to, deduction phase-in amounts, and how taxable income affects the deduction methodology.

Keep that in mind before you get too excited about large potential deductions.

PART III: OTHER CONSIDERATIONS Carryover of losses: Per 199A(c)(2), if the net amount of qualified income, gain, deduction, and loss with respect to qualified trades or businesses of the taxpayer for any taxable year is less than zero, such amount shall be treated as a loss from a qualified trade or business in the succeeding year. The effect of this provision is to reduce qualifying business income in the succeeding year only for the purpose of computing the 199A deduction.

Application to partnerships and S corporations: In general, 199A shall be applied at the partner or shareholder level, with each partner or shareholder taking into account their allocable share of each qualified item of income, gain, deduction, loss, W2 wages, and unadjusted basis of qualified property.

Conforming amendment: While there is no denying the fact that the savings from this deduction can be enormous, especially for those in the top tier of tax rates, you must exercise caution as Section 199A included a conforming amendment to Section 6662(d) (1), the code section that applies a 20 percent penalty to underpayments. The amendment reduces the threshold for applying the accuracy-related penalty from 10 percent of the tax to 5 percent of the tax in the case of any taxpayer who claims the deduction allowed under Section 199A. It won’t be difficult to exceed that threshold when you consider the savings being afforded a qualifying taxpayer by claiming the 199A deduction.

Characterization of income will be a driving factor, thus making entity choice and reasonable compensation key factors in conversations. The effects of both are quite profound on qualifying income.

Due consideration should also be given to the accuracy-related penalties that could apply.

While Section 199A affords great savings and planning opportunities, it does so with pitfalls awaiting the unwary. Have some serious discussions with your clients about this, particularly those self-employed persons that are borderline trades or businesses. Make absolutely certain before you take this deduction that you are comfortable in knowing that the activity rises to the level of a trade or business.

Protect yourself, protect your client.

Study it. Learn it. Let’s talk about it. It’s going to be around for the next seven years.

Dennis C. Ponton is an MACPA member practicing in Oakton, Va.

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BECOME THE PRACTICE OF NOW Adopting cloud technology is no longer a choice for practices. It’s a necessity.

Clients have expectations that demand new technology, and accountants must adapt to the changing landscape.

Sage surveyed 700 accountants from across the globe to learn about these changes first-hand. From cloud adoption and automation to handling client data with cloud security, prepare for the opportunities of today and stay relevant with insights from fellow accounting professionals.

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Download the free Practice of Now report today at STATEMENT sage.com/us/practiceofnowreport.

PUBLIC PRACTICE The 5 Cs of building or buying alternative practices B Y J I M B O O ME R It’s now becoming common knowledge: Accounting firms are slowly but surely transforming themselves from tax and audit firms into multidisciplinary professional service firms, offering everything from IT to HR, marketing, strategic planning, web development, insurance, recruiting and more. In fact, the advisory practices for the Big Four firms are growing much faster than their other service lines.

A firm can provide many of these services relatively easily. If the firm is already assisting in traditional areas such as payroll and benefits administration, human resources may be a natural extension of those services.

But sometimes developing and growing these advisory services is a challenge.

The firm may have the attention and trust of their clients but fail to recommend other services to their clients because their infrastructure is not set up to deliver consulting. Or only a few partners or managers feel comfortable providing consulting services to their clients, and they’re too busy managing their book of business and staff to focus on consulting or hiring and training the talent they need.

That’s why many firms have opted to buy existing practices offering these alternative services rather than build them in-house.

In fact, the AICPA / PCPS Merger and Acquisition Tracking reported that as of Oct. 18, 2017, 26 percent of the largest U.S. firm acquisitions in 2017 were of nonCPA firms. Thirty-seven percent of those acquisitions were for technology skills.

Here are a few items to consider when deciding between building and buying an alternative practice.

COST The initial costs of buying a niche practice are what typically influences the decision to build versus buy. However, the real price of building a niche practice is difficult to quantify. The key is to ask how much

APRIL 2018

time the firm can save over the course of a year by purchasing an existing practice, including its existing clients, marketing, expertise, talent, and other factors.

CLIENTS When you purchase an existing practice, you may not get to be selective about the clients you want. Does the character of the clientele fit where you want to be? Does it offer the opportunity to cross-sell existing services? Building a practice from the ground up will take more time, but you are better able to target and work with quality clients that fit your firm. Also, the clients you earn are more likely to stay long-term because they chose to work with your firm in the first place, rather than having your firm forced upon them because you bought the business.

COMPLIANCE CPAs are no strangers to dealing with compliance issues, but are you as familiar with the rules and regulations that govern other niches, including human resources, cyber-security, insurance, wealth management and others? Unless you’re able to hire people with the necessary skillset and experience to help you navigate new compliance structures, you may be better off acquiring a firm that already has them in place.

COMPENSATION Accountants are well positioned to provide high-value advisory services to business owners, but doing that profitably requires moving beyond time-based compensation.

Billable hours simply aren’t an effective pricing strategy for most alternative practices, so firms will have to get comfortable with value pricing.

“...as of Oct. 18, 2017, 26 percent of the largest U.S. firm acquisitions in 2017 were of non-CPA firms.”

- AICPA/PCPS MERGER & ACQUISITION TRACKING CASH FLOW Buying a practice obviously requires an initial and immediate investment, but acquiring established clients, employees, and potential referrals can provide immediate cash flow. On the flip side, some consulting services take years to pay off.

If you are thinking about buying a niche practice, make sure you perform due diligence, including obtaining information about the client base of the firm you choose. Acquiring a firm with the talent you need can be challenging in itself, but even a small, targeted acquisition of specific talent can be the boost you need to grow a niche practice.

Jim Boomer is CEO of Boomer Consulting, Inc., and a strategic planning and technology consultant and adviser to CPA firms across the country.

As Marc Staut has cautioned, “Whether they build it or buy it, I caution firms not to attempt to run a consulting firm like their traditional tax and audit practices.

Otherwise, you’ll spend a lot of money and might not get what you were hoping for in return.”

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BUSINESS & INDUSTRY The CFO as chief risk manager B Y PA U L L . WA LKE R, CPA , P H. D., AND MARK L. F RIGO , CPA, CGMA, PH.D .

Note: This article first appeared in CGMA Magazine. For more articles, sign up for the daily email update CGMA Advantage at http://bit.ly/2svn2AY.

Disruption is driving risks for every organization.

CFOs can play a critical role in helping organizations proactively manage them and create value.

The role of the CFO in managing enterprise risk and creating future value continues to evolve in this dynamic and rapidly changing environment of disruption. Our research, The Strategic Financial Executive: Managing Enterprise Risk in a Disruptive World, which we released in a report by the Financial Executives Research Foundation, describes strategies CFOs can use to manage risk and create value in today’s dynamic landscape and discusses how CFOs can incorporate strategic risk themes emphasised in the new enterprise risk management (ERM) framework by the Committee of Sponsoring Organizations of the Treadway Commission, or COSO. The research is based on extensive interviews with financial executives and other corporate stakeholders from leading companies. The takeaways in the report encompass four strategic themes: recognizing disruption, developing risk management maturity, communication, and strategic thinking.

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Theme 1: Recognizing disruption, the speed of change, and underlying sources of disruption Financial executives must swiftly adapt their roles and skillsets. CFOs bring value to the table by, among other things, informing the board and CEO regarding matters they may not be familiar with and providing insight to nuances they may not have seen.

Theme 2: Increasing the enterprise’s risk IQ and capabilities ERM is evolving and becoming more strategic in its efforts and results. Given the efforts of COSO to highlight strategic risk dimensions, executives should expect board members to ask more strategic risk questions and be prepared to address them when asked.

Fifty years ago, people managed physical assets to deliver cash flows, explained Corey West, CPA, chief accounting officer and corporate controller for Oracle.

The ERM framework developed by COSO points out that strategic risks can be sourced as follows:

“Today, you manage intangible assets to deliver cash flow. Those intangible assets can be valuable one day, and it can go ‘bye-bye’ the next, depending on who enters a marketplace where you’re competing,” West said. “The importance about understanding the business you’re in, the competitive landscape, and where your competition might be coming from, (from) a strategic standpoint, is a lot more important now. I think CFOs need to be part of that thought process.”

• Strategy and business objectives not aligning with mission, vision, and values.

• The implications from the strategy chosen.

• The risk involved with executing the strategy.

Executives and board members should seek or reconfirm their knowledge related to those strategic risk dimensions. To get this right, financial executives should look to leverage their current ERM processes to determine what strategic risk help and analysis is being developed.

STATEMENT

BUSINESS & INDUSTRY companies already analysis tools, such strategic disruption, and emerging trends

DEALING WITH DISRUPTION Financial executives can take the following steps to help recognize disruption, grapple with the speed of change, and understand the underlying sources of change:

Theme 3: Thinking and communicating strategically With the proper strategic thinking, noise and signals can help your organization to know where the market is heading and where to compete. Consider all the factors, such as customers, the global economy, foreign currency hedging, and contracts with escalations.

1.

Periodically rethink and redefine your real competitors. Look outside of the normal channels.

2. Get involved in the identification of signals of change facing your organization.

3. Ensure that you are looking at the right sources of change and disruption.

4. Build a sophisticated process to identify noise and potential changes.

5. Consider your company’s customers as a key source of information, not just about current sales but about future change and potential disruption.

6. Have contingency and resiliency plans based on the size of a disruption.

7. Factor in reaction time. It is more important for some areas than others. Identify when it is critical for your organization.

8 Survey the landscape. Look for disruptors in technologies. Look for disruptors in other industries that might indicate changes in your sector.

9.

Build a method to link change and disruption to the business model and to your enterprise’s current strategy.

Some advanced use strategic risk as workshops on black swan events, practices.

Financial executives are in a unique position to take advantage of an integrated approach that sees changes, identifies the risks, and links them to the business model.

Theme 4: Developing skills to enable a forward-thinking finance organization Successful financial executives look toward future value creation. Decisions made with this risk information are aimed toward better business models and future strategy.

“Enterprise risk management consists of a set of forward-looking tools for senior management,” said Jeff Pratt, general manager of enterprise risk management at Microsoft.

Knowledge of accounting, finance, reporting requirements, and related skills may have helped financial executives move to the top. But that knowledge is not enough to keep them successful and able to add the most value to their organizations. We recommend that CFOs develop a professional development plan for their team that incorporates strategy, strategic risk management, and business model skills. Consider the profile of skills needed, and access the current skillset as a starting point.

“The more senior role that you play in the organization, the more time you should spend looking forward versus looking in the rear-view mirror,” said Bob Verbeck, senior vice president of finance and corporate controller at Boeing. “... It’s really about proactively determining where you are going with your responsibility (and) your business.”

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BOOSTING RISK IQ Financial executives can take the following steps to help their organizations boost their risk IQ and capabilities: 1.

Check with your board members to determine what information they need about each of the three strategic risk dimensions.

2. Develop a plan to address those needs.

3.

Compare your current risks with the three dimensions. Do they all fall into one of the dimensions (perhaps strategic execution risk)? Adjust for any areas that have no associated plans or tools.

4. Review how strategic risk is addressed in your ERM process.

5.

Know the answers to the following questions: What tools have we applied to know that our strategy is the right one?

What tools have we applied to determine if we are aligned? What tools have we applied to strategic execution risk?

6. Work with the ERM team to improve the risk IQ and broader risk thinking in the organization.

7. Ensure that risk thinking is seen as part of business thinking.

8.

Review the smaller recurring risks for potential surprises. Look for a larger pattern or theme that could signal additional risks.

9.

Develop tactical strategies for known risks. Take the risk beyond a map and consider the longer-term budgeting and financial implications.

10.

Identify the assumptions in the

risk-profile rankings.

THINKING STRATEGICALLY Financial executives can take the following steps to think and communicate more strategically: 1.

Ensure that identified risks are incorporated into the business units.

2.

Have regular sessions to rethink derailment, opportunities, new business models, and the related risks.

3. Understand the business’s view of the risk. Engage business units. Listen to their points of view.

4. Bring in subject-matter experts, futurists, and others to validate the potential business model and strategic risks.

5.

Review trends in cross-functional business teams to determine their impact and opportunities.

6. Measure each dimension of strategic risk.

7. Test new strategic risks.

8.

Flesh out the financial implications of major risk assumptions.

9. Track identified risks to the strategic plan.

10.

Have regular sessions to focus on leveraging the risks into new business models. Do this also with your key customers.

Paul L. Walker, (walkerp@stjohns.edu) is the executive director of the Center for Excellence in ERM at St. John’s University.

Mark L. Frigo (mfrigo@depaul.edu) is the director of the Center for Strategy, Execution and Valuation and Strategic Risk Management Lab at DePaul University. © 2017 Association of International Certified Professional Accountants. All rights reserved.

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INNOVATION Idea tournaments: Gamifying innovation B Y M A R K S. BROOKS Note: This article first appeared in CGMA Magazine. For more articles, sign up for the daily email update CGMA Advantage at http://bit.ly/2svn2AY.

Creating a challenge can inspire a culture of innovation.

Here’s how.

Employees at all levels of an organization are continuously generating new knowledge, collaborating, learning about the market and opportunities for growth, creating solutions and workarounds, and identifying stress points for both the company and its clients.

Tapping into this brainpower can be a powerful force for innovation.

One method is to design and launch an innovation tournament. The goal of an innovation tournament is to use a competitive format to leverage the intellectual and creative capital within an organization. Its primary intent is to have a little fun while creating a pipeline of ideas that can be commercialized.

Studies indicate that, given the objective of generating ideas, people working independently will generate more ideas than if the same people worked together in a group. This is due in part to groupthink, fear of being criticized, and the sequential and linear nature of conversation. Therefore, tournaments should be designed to generate and capture a great number of ideas starting with the individual.

There is no one perfect design for innovation tournaments. Details may vary depending on the industry, the size of the company, the geographic spread of employees, and other details. But several common characteristics can be found in many successful innovation tournaments.

CHALLENGE-FOCUSED The most important component is an emphasis on solving a specific problem or addressing a specific opportunity. The challenge should be framed in simple terms so that employees in both broad and narrowly defined functional areas can contribute. If it is framed too narrowly, only a few employees will truly understand or the ideas received will be off-base. If it is framed too broadly, the ideas themselves will lack focus.

Either way, a balance must be struck between adequate time for employees to consider the challenge and express ideas with the need to create a sense of urgency. Too little time may result in lowerquality ideas; too much time may result in procrastination and a loss of momentum.

Equally important is the time-sensitive nature of the problem or opportunity to be addressed. It should be significant for the business and inadequately addressed with existing resources.

That does not mean that a monetary reward to the winners of a tournament should not be offered, but any offering of this kind should be paired with intangible benefits such as visibility, recognition, or the opportunity to work on a new highprofile project or a stretch assignment.

While this may sound unappealing to some employees, it will be appealing to high performers — the group of employees who should be kept engaged and retained for sustainable innovation.

If the problem to be solved is big and complex, consider framing it through smaller, more digestible challenges.

INCENTIVES Setting up rewards for employee participation can be tricky. The cultural impact of incentives is long-lasting.

Intrinsic and extrinsic rewards should be considered. To encourage a culture of innovation, intrinsic rewards should be emphasized as they will be more sustainable and will permeate employees’ approach to innovation beyond the tournament.

Intrinsic rewards include recognition, positive visibility, and creating a feeling that motivates people and encourages ever-lasting behavioural change.

TRANSPARENCY The rules, processes of how ideas are vetted and selected, and who is making the decisions should be open and clear from the start. The evaluation criteria for screening and selecting ideas should also be simple and clear so that, as employees consider the challenges and express their ideas, they know how their ideas will be assessed.

TIME-SENSITIVE Tournaments can be conducted over the course of one day, several months, or a year.

Daylong tournaments may be well-suited for small companies or departments in which the ideas can be expressed through software coding or simple, quick prototypes, such as a new e-commerce storefront or a new marketing slogan. Longer tournaments may be better suited to solving complex challenges that require more deliberation.

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MULTIPLE ROUNDS To narrow the field of ideas while maintaining transparency, multiple rounds for idea selection may be ideal. A side STATEMENT

INNOVATION benefit to multiple rounds is that some ideas may be combined or new ideas conjured up by building on existing ideas.

This can be as simple as having an initial screening round to filter ideas followed by a voting or pitch round.

A simple framework to screen ideas is to consider the size of the problem and clarity of the solution, the risk / reward of implementing the idea, the strategic fit of the idea with the company’s growth ambitions, and whether the company’s competitive advantage can be strengthened by implementing the idea.

Voting or pitching rounds can be virtual or in-person.

The ultimate winner should be selected by a group of people rather than one person. This can be achieved virtually (e.g., all employees vote on the top ideas) or in person (e.g., screened ideas are pitched to a panel of judges). If using a panel of judges, consider constituting the panel with a mix of executives and lower-level employees to ensure a diversity of perspective.

TENSION Seek opportunities that may spark widespread disagreement. This tension encourages more critical thinking, thereby yielding creative and unique ideas.

Don’t be afraid to seek ideas that might cannibalize an existing business line or go against established assumptions within the business. Embrace this tension because provocative ideas such as these have the potential to disrupt industries and businesses. Progressive companies seeking genuine innovation should heed the call of provocative ideas.

COMMITMENT OF THE ORGANIZATION The biggest risk of running an innovation tournament is letting ideas linger with no commitment to move them forward or shelve them. A commitment by the CEO, the board, or other relevant executive sponsors is critical to ensure that employees take the tournament seriously.

This commitment includes moving winning ideas forward in good faith with adequate resources, attention, and follow-through.

8 PHRASES OF AN INNOVATION TOURNAMENT This hypothetical example describes how a tournament might be developed.

1. Defining challenges. A review of strategic imperatives identified a need for ideas that would help the company remain relevant to customers over the next decade and beyond. A secondary challenge: How to attract customers and address those who were underserved. These challenges were considered to be of financial and strategic importance and within the scope of all employees.

2. Securing internal support. Tournament organizers attained the CEO’s support and established a process to collect ideas. They recruited internal judges and decided on tournament rules. Corporate leaders partnered with human resources to ensure alignment with intrinsic rewards.

3. Inviting staff to share ideas. An online platform was established to solicit ideas. The online platform reiterated the two challenges, the evaluation criteria, and the timeline for decisions, and provided resources to help staff formulate ideas. Internal marketing encouraged participation. Staff were given two months to share as many ideas as possible.

4. Screening ideas. Tournament organizers screened each idea based on three criteria: Does it address a meaningful problem? Is it achievable? And is implementation worth the potential risk? Each idea was scored; 15 advanced.

5. Developing concepts. The 15 finalists were invited to expound upon their ideas — how it might work, potential costs, resource needs, etc. The ideas also were made available to staff, whose feedback helped finalists strengthen their concepts.

6. Hosting a pitch day. A panel of four senior leaders and four peer-level staff, with no vested interest in any particular idea, was charged with selecting three winners. A pitch day was organized during which finalists presented two-minute pitches, followed by two minutes of questions from the panel.

Employees were invited to observe the session virtually and vote on their favorites. Judges considered the Step 4 criteria in their final decision.

7. Piloting winning ideas. Winners were given resources to pilot their ideas.

Coaching from an innovation team steered ideas to a minimum viable product, rather than a fully developed product. This encouraged simplicity and culturally demonstrated a willingness to experiment with limited information and investment.

8. Monitoring results. Metrics for success (such as new revenue, savings, and strategic value) were established as a way for decision-makers to determine whether further investment was warranted. Prototypes were rapidly iterated so the cost of failure was minimal while learning and speed were maximized. © Association of International Certified Professional Accountants. All rights reserved.

CONTINUED ON PAGE 22

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INNOVATION CONTINUED FROM PAGE 21

Providing feedback to employees with non-winning ideas is equally important.

After all, they spent time developing those ideas and may appreciate the sincere consideration of them. The absence of these elements could have a detrimental cultural impact on innovation.

HOW NETFLIX GAMIFIED IDEAS Innovation tournaments can also work well when they focus on soliciting ideas from external parties such as clients, suppliers, topical experts, and the general public. The same principles for design and implementation apply for externally focused tournaments.

In 2006, movie rental service Netflix wanted to improve its algorithm that predicts individual users' ratings of movies based on previously rated content. So Netflix announced "The Netflix Prize," a contest for computer programming and mathematical groups throughout the world. The company offered a $1 million prize to any group that could significantly improve its in-house algorithm by at least 10 percent. If no submission met that threshold, Netflix would award the top scorer $50,000, and the contest would continue with the goal of improving the top scorer's algorithm. The contest concluded in 2009 when a group had successfully improved the recommendation algorithm by more than 10 percent.

The Netflix Prize embodied the key elements of innovation tournament design. It was focused on solving a specific problem, had a set timeline of when submissions were to be received, was transparent in how submissions were evaluated, had an intrinsic reward of visibility and meaningful work, had a large financial incentive for contestants to spend time on it, had commitment from the CEO, and had multiple rounds for selection.

By design, Netflix was able to mobilize many minds well beyond its core employee group, resulting in a fresh perspective in improving the user-rating algorithm. Š Association of International Certified Professional Accountants. All rights reserved.

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WILLINGNESS TO EXPERIMENT AND FAIL Not all ideas selected will prove to be financial or market winners. But the learning gained from executing them will be invaluable. Celebrating failures and, more important, learning from them is a critical element of innovation. Without the failure, lessons may not be learned. These celebrations can reinforce the cultural acceptance of fringe ideas, which are exactly the types of ideas that companies should be considering for innovation.

TECHNOLOGY A multitude of innovation tournament platforms exist that companies can buy or lease with their own branding wrapped around it. The necessity of employing such platforms depends on variables such as budget and internal expertise to design and run a tournament.

If third-party consulting help is needed to get a tournament started, these types of platforms may make sense. Otherwise, building a technology solution in house or using existing internal platforms may suffice as long as the above tenets are addressed.

Mark S. Brooks (Mark.Brooks@aicpa-cima. com) is the associate director of innovation and strategic partnerships at the Association of International Certified Professional Accountants. Š 2017 Association of International Certified Professional Accountants. All rights reserved.

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STATEMENT

TECHNOLOGY At what size does a firm need a CIO? B Y A M A NDA WILKIE IS KNOWLEDGE OF THE ACCOUNTING PROFESSION IMPORTANT? Knowledge of the accounting profession is extremely beneficial to your CIO for planning purposes. Our profession’s calendar is riddled with deadlines and blackout dates that can throw new members for a real loop.

Everyone knows the big spring deadlines in March and April. They also know about Sept.

15 and Oct. 15. But if your firm works with a lot of not-for-profits, major IT initiatives should be kept to a minimum in May as well. A CIO from outside the profession will quickly pick up the nuances of the public accounting calendar but project planning may be difficult the first year.

“Does a firm our size need a chief information officer?”

I hear this question quite often, and I always respond with more questions. Why do you think you need a CIO? Why do you think you need a CIO now?

As a matter of fact, the need for a CIO has absolutely nothing to do with the size of the firm. The need for a CIO depends on how your firm wishes to leverage technology. If technology is still seen as a necessary cost center required for operations, you’re not ready to bring on a CIO. However, if your firm’s strategic plan includes a period of growth, expansion into new services and markets, or, most importantly, you’re ready to explore how technology can drive your firm’s strategic plan forward, then you might consider adding a CIO to your leadership team.

DO WE NEED A CIO AND AN IT DIRECTOR? This answer, like that of the previous question, has nothing to do with the size of your firm.

APRIL 2018

The answer depends on the complexity of the environment. As an integral member of the firm’s leadership team, your CIO should be part of developing the firm’s strategic plan. Then your CIO should focus on the firm’s technology vision, ensuring that vision aligns with and supports the strategic plan and communicates that vision to all levels of the firm.

With your CIO focused on vision, an IT director can focus on the goals of achieving that vision. The IT director remains engaged and excited in the technical milestones and finds more support from the firm when the CIO has successfully achieved and communicated that alignment between strategic plan and technology vision.

These two roles work so very closely together that, in the right environment, they can be combined into one role. Yes, it’s easier to pull double duty in a smaller firm, but double duty is more about finding the right individual who is strategic and can build alignment while still having the time and passion to achieve the tactical milestones.

Secondly, a candidate with experience in a public accounting firm or in another professional services firm, such as law, will bring an understanding of the partnership organizational structure. Decisions are made much differently in a partnership than a traditional corporate framework.

Your CIO will spend a great deal of effort achieving buy-in across the firm for major technology initiatives. These political waters of consensus can be extremely challenging to navigate in a firm where the service line leaders protect the best interests of their team, or worse, where partners are protective of their own self-interests over the agreed upon plan for the firm.

In short, the answer to whether your firm needs a CIO, an IT director, and the necessary background for these roles is never straightforward. It largely depends on your mindset, your goals, and how quickly you expect the person in these roles to hit the ground running.

Amanda Wilkie is a consultant with Boomer Consulting, Inc.

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FINANCIAL PLANNING MACPA’s 32nd annual Advanced Personal Financial Planning Conference: Innovative approaches for market and life challenges B Y SE T H H A MM E R, CPA , P H. D The MACPA’s 32nd annual Advanced Personal Financial Planning Conference addressed a variety of planning issues, in the context of a nine-year running bull market, one of the longest in modern times. Those issues included the use of alternative investments (e.g., private equity) and asset protection, with a special program emphasis on planning for and protecting elderly clients who may be experiencing a decline in cognitive capabilities.

Some key highlights from that conference are shared in this article.

ALTERNATIVE INVESTMENTS Jonathan Morris, CFA, of Goldman Sachs discussed and explained a variety of potential benefits and detriments associated with alternative investments that are typically not associated with more traditional modes of investing. One potential benefit of alternative investing, for example, may be the opportunity to generate income during periods of declining market prices, through short sales of assets. Another potential benefit may include the opportunity to access instruments and asset classes that have few or no ties to commonly used financial benchmarks.

A potential detriment of alternative investments, however, is that they may be offered in “private” form and, therefore, may provide no or only very limited liquidity.

Morris noted, nevertheless, that while investments such as private real estate and private hedge funds are typically subject to severe liquidity limitations, a potential offsetting benefit of that limited liquidity is that it may reduce management pressure to forsake long-term goals to achieve shortterm share price objectives.

For clients who are considering investing in an alternative investment, Morris recommended they find out and consider

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whether the managers have personal stakes in the program and, thereby, would have vested interests in the venture’s performance.

PROTECTING CLIENTS WITH COGNITIVE IMPAIRMENT Dr. Carolyn McClanahan, CFP, of Life Planning Partners advised participants as to potential warning signs of a client’s cognitive impairment and offered recommendations for protecting such clients while also providing evidence that the planner has fulfilled his or her due diligence responsibilities. She also discussed recent regulatory changes.

Examples she presented of potential evidence of seniors’ cognitive impairment include failure to pay bills, paying them twice, forgetting where assets are located, giving money away to family and friends, and gambling. Some suggested methods offered by her for dealing with clients demonstrating cognitive problems included holding meetings earlier in the day and, to the extent possible, keeping them focused and short in duration.

At first signs of a cognitive decline, it may be especially important to create net worth statements and to act to ensure that assets are titled properly. McClanahan also noted that, if not previously completed, it may make sense to have the client consider preparation of a “Quality of Life” directive, which could potentially provide guidance for future health care providers and family members.

On the regulatory front, McClanahan noted that the North American Securities Association model act, titled “An Act to Protect Vulnerable Adults from Financial Exploitation,” includes provisions that may, in some situations, provide immunity for investment advisors who delay

disbursements of client funds and, where an investment advisor has a reasonable belief that financial exploitation of an elder individual has occurred, mandate reporting to the client’s state securities regulator. Qualified advisors subject to these provisions include securities brokers, investment advisors, and independent contractors that may be fulfilling those roles.

Similarly, for advisors subject to its provisions, the Financial Industry Regulatory Authority has enacted a provision, effective Feb. 5, 2018, providing an allowance to place temporary holds on client disbursements when the advisor has a reasonable belief that there may be financial exploitation of a senior. Evidence presented by FINRA of the gravity of the issue of financial exploitation of seniors is that within just the first two years since enacting a “Securities Hotline for Seniors,” they have handled more than 8,600 telephone calls.

ALSO ON THE AGENDA Other topics included “Advisory vs.

Advice,” which reviewed and explained potential alternative paths available for structuring a practice offering financial advice; a discussion of strategies for protecting assets and income in a divorce; an overview of factor-based investing; an update on developments in the field of qualified plans; and an update on economic trends nationally and in Maryland.

The MACPA’s Personal Financial Planning Committee is planning its 33rd annual conference, scheduled for Oct. 23 at the Towson Sheraton. The committee encourages members to mark their calendars for what is sure to be another most informative and interesting event.

Seth Hammer, CPA, Ph.D., is a professor of accounting at Towson University.

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FROM OUR PARTNERS Digital CPA returning to Maryland in 2018 B Y E R I K A SG E IRSSON CPA.com’s Digital CPA Conference started its successful run in National Harbor, Md., back in 2012, and we’re returning there again in December.

That’s not the only reason I feel a special affinity for Maryland: The MACPA has been a leader in preparing CPA firms to be futureready, and over the years our organizations have been in sync about the opportunities of the cloud, the promise of innovation, and the bright future for practitioners.

To a large extent, Digital CPA’s evolution mirrors the changes we’ve seen in public accounting over the past six years. Our focus back then was primarily on the cloud and the emergence of virtual CFO / controller services. At the conference in San Francisco this past December, those issues were still front and center but were joined by changes to the audit and the rise of artificial intelligence, machine learning, and blockchain.

another 40 connecting remotely. We had more than two dozen people flying in from five different countries outside of the United States, so the strength of the programming, like the challenges and opportunities it addresses, extends across many borders.

This was one of the lessons from Netflix co-founder Marc Randolph’s presentation in December. Not everything works out. As a profession, we’re devoted to service quality, and that’s always the goal. But we can’t be afraid to move fast to try something, and move on if it’s clear an approach isn’t working.

The pace of change offers great opportunity.

Technology is rapidly transforming the practice of accounting, and the discussions at the event made me feel even stronger that there has never been a better opportunity for CPA firms to grow and thrive.

Education will move us forward.

Blockchain will bring huge changes to the audit, in ways that aren’t fully clear yet.

Digital CPA attendees had high curiosity about this area. That’s why we teamed up with the Wall Street Blockchain Alliance this past fall, and why we’re committed to providing context and insight to CPAs on this topic. There’s a whole new world forming in finance and accounting, thanks to blockchain, artificial intelligence, machine learning, and data analytics.

Technical Learning Accounting Accounting (Governmental) Auditing Auditing (Governmental) DEVELOP YOUR Business Law BEST TEAM. Economics Finance Information Technology See the full course catalog online at BLIonline.org/catalog Management Services Here are a few of my takeaways from the conference:

Technology and practice management issues resonate globally. We had 430 people at Digital CPA this year, and

Complementary skills are going to be more important than ever going forward.

Then-AICPA Chair Kimberly Ellison-Taylor talked about this during my Digital CPA keynote, and it was underscored in conference sessions. Technical skills and good judgment are never going to go out of style, but CPAs are going to need expertise in communications, technology and marketing, among other areas, if they’re going to successfully establish high-value advisory practices.

Mistakes and failure aren’t fatal – they’re prerequisites to growth and innovation.

At CPA.com, it’s our mission to provide thought leadership and guidance for firms navigating these changes. See you at National Harbor on Dec. 3-5!

Erik Asgeirsson is president and CEO of CPA.com.

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FROM OUR PARTNERS Preaccounting: The job we all hate but must do B Y DAV I D B A R RE TT Everybody knows what accounting is: Accounting [uh-koun-ting] (noun): The theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc.

But what is “preaccounting?”

Not everybody is as familiar with this newer concept, so I’ll go ahead and define “preaccounting” as: Preaccounting [pri–uh-koun-ting] (noun): The system through which financial data is gathered, coded, aggregated, and normalized so as to enable accounting to occur; accounting processes executed by non-accountants, including expense management, time tracking, etc.

In layman’s terms, preaccounting is the super boring, tedious work that nobody wants to do but that absolutely needs to be done before the truly valuable accounting work can begin. Unlike accounting, which is clearly the job of accountants, preaccounting is nobody’s job.

Where does the responsibility of preaccounting fall?

To be clear, even though it’s nobody’s job, everybody needs to do it. Business travelers don’t define their job as “putting receipts in my pocket and trying not to lose them,” but they still need to do it. Accountants don’t define their job as “sorting a pile of crumpled receipts and chasing down business travelers to find those they lost,” but they need to do it as well. Preaccounting is one of those things that nobody wants to do, but that everybody needs to do, at least some of the time.

But since it’s such an informal responsibility, everybody procrastinates as long as they can. For reimbursable expenses, employees make a half-hearted attempt to keep the receipts but otherwise ignore them until the amount they are owed becomes

APRIL 2018

unbearable.

For non-reimbursable expenses, employees make no attempt to keep the receipts, until the accountant needs to reconcile the company card and finds they lack the information necessary to do their job.

In either case, preaccounting creates a steady stream of angst: Everybody does the absolute minimum, at the absolute lowest frequency tolerable, until something snaps and all of a sudden there is a tremendous pile of incredibly low-value work that needs to be done right now. This has the effect of minimizing speed and efficiency, while maximizing anxiety for everyone involved.

Taking the first step to minimize preaccounting for everyone Thankfully, the workflow doesn’t need to be this way. Tools like Expensify can take this unwelcome burden off of everybody’s shoulders by using mobile apps and artificial intelligence to:

• capture the receipt image immediately, without you ever putting it into your pocket; • read the receipt using OCR; • route it through the correct workflow; • export it to accounting; and • reimburse it to your bank account within 24 hours.

This technique of processing the receipt in real time breaks the “cycle of dread,” where last time around was so bad that you procrastinate even more next time, quickly finding your maximum threshold for pain – and then staying there forever.

We’re thrilled to be leading the revolution to help lift the burden of preaccounting off everyone’s shoulders. If you haven’t already, please go ahead and check it out.

No human likes expense reports, so we built an A.I. that does. Put it to work!

David Barrett is founder and CEO of Expensify, a strategic partner with the MACPA.

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FROM OUR PARTNERS Ownership and accountability: Key strategies to empower autonomy in your business right now B Y M I K E SA B BATIS, XCM CE O No one wants to be micromanaged, or be a micromanager—but managers are held accountable for completion of work, and if the work isn’t being done, micromanaging becomes the default management style.

A more highly engaging and productive approach is to create a culture of accountability.

A 2015 Workplace Accountability Study revealed that 82% of respondents have no ability to hold others accountable—but 91% of people rank accountability as one of the top development needs they’d like to see at their organization.

Mark Samuel, author of The Accountability Revolution, suggests that accountability can result in increased synergy, a safe climate for experimentation and change, and improved solutions because people feel supported and trusted.

All of these can in turn create higher employee morale and engagement.

So how do you create a culture of ownership and accountability in your organization today?

ACCOUNTABILITY BENEFITS In this industry of rapidly changing priorities and complex regulation, success is dependent on complete and accurate recording of decisions and actions.

Corruption and fraud have had lingering effects on industry credibility. Yet, tax, accounting, and finance professionals remain accountable to accurately record, track, calculate, forecast, and communicate to employees, clients, shareholders, and board members.

Refusal to be accountable and to drive accountability throughout your business is not an option.

When managers spend their time manually advancing a project rather than enabling a culture of accountability—in which staff do what they say they’ll do, and keep their commitments to the project and each other—both the manager and the

32

employees often find themselves frustrated, uninspired, and disengaged.

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This transparency and streamlined workflow helps identify bottlenecks and other dysfunctional habits that hamper productivity, but also empowers employees to be take proactive measures to achieve responsive recovery. This is looking more like a culture of accountability!

CREATING A CULTURE OF ACCOUNTABILITY Being accountable for your results, and holding people accountable for the results of their work, can have very positive effects.

When managers have total visibility to employees’ work, the result is often greater accuracy.

But a culture of accountability is more than just visibility and accuracy. When employees know their managers have confidence in their accountability, managers start to see a better understanding of role obligations, real-time decision-making, more cooperation, and higher overall team satisfaction.

Mark Samuel breaks down the “Anatomy of Accountability” into six key elements: 1. Clear intention 2. Interlocking ownership 3. Effective execution 4. Relentless attack of dysfunctional habits 5. Responsive recovery 6. Ruthless measuring of results Technology like XCMworkflow can help businesses achieve these six key elements of accountability.

PRODUCTIVITY, SIMPLY ENABLED® By offering 360° visibility to all tasks, projects, signoffs, and more, XCMworkflow clarifies project intention while delivering transparency to interlocking ownership.

Following the six key elements further, XCMworkflow was developed using Lean6 business process framework, which optimizes workflow for streamlined execution. Cloud-based technology lets you standardize process from anywhere, with embedded controls and signoffs for quality assurance. And, with increasing concerns

Last, but certainly not least, XCMworkflow offers robust reporting using real-time data, so leadership can easily measure results and focus on continuous improvement and controls that deliver high impact business outcomes.

Year over year and month over month, XCM offers a dynamic, real-time, on-demand visibility to priorities and responsibilities across your business, enabling employees to take ownership of their work.

EMPOWER AUTONOMY AND CREATE A TEAM OF SUCCESSFUL PEOPLE When you track recurring and ad-hoc projects in a central location like XCMworkflow, you take a powerful first step in creating your own culture of accountability.

Research indicates that holding people accountable has very positive effects—and it starts with enabling autonomy across your teams.

The benefits are many and varied. With a culture of accountability enabled with technology like XCMworkflow, you are likely to see: • greater accuracy • better ownership of assigned work • proactive problem-solving • data-driven decision-making • more productive cooperation • higher employee satisfaction and retention Join the conversation and learn how XCM’s productivity enablement business process technology can lay the foundation to create a culture of accountability that connects your people through process and technology.

Mike Sabbatis is CEO of XCM, a strategic partner with the MACPA. STATEMENT

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STATEMENT

MEMBER NOTES FIRM NOTES Hector Alvarez has been named an in-charge accountant with DeLeon and Stang Certified Public Accountants and Advisors.

LSWG CPAs has announced two mergers — with the Frederick

Josh Barnaby, CPA, MBA, has been named an in-charge accountant with DeLeon and Stang Certified Public Accountants and Advisors.

firm WN CPAs. The mergers — effective Dec. 1, 2017 and Jan.

Ryan DeLeon has been named an in-charge accountant with DeLeon and Stang Certified Public Accountants and Advisors.

administrative professionals who are now operating under the

Nathan DiNatale, CPA, has joined the Valuation Services Practice at the Baltimore office of CliftonLarsonAllen.

CPA firm of Scott Blackburn & Associates, and with the Rockville 1, 2018, respectively — bring together the experience and leadership of 10 principals and a staff of 40 accounting and name LSWG CPAs. Rosen Sapperstein and Friedlander, LLC, has completed a move to its new headquarters at 405 York Road in Towson. The unique new space, formerly a retail space, is approximately 14,000 square feet and located in Towson Commons.

Linda French, CPA, has joined the staff at Bormel, Grice and Huyett, P.A.

Charli E. Heilmann, CPA, has been promoted to supervisor in the Hagerstown, Md., office of Smith Elliott Keanrs and Company.

Zach Hylton, CPA, has been named an in-charge accountant with DeLeon and Stang Certified Public Accountants and Advisors.

David A. Lucas has joined the Estates & Trusts and Business and Tax Practices at Miller, Miller & Canby.

Tricia Love Thomas, CPA, audit partner in the Nonprofit Group at Gross, Mendelsohn and Associates, P.A., has been appointed secretary of the board of the Education Foundation of Baltimore County Public Schools. The foundation provides and facilitates community and corporate funding to create, sustain and invest in a culture of excellence for all students, especially those in the Maryland community.

Jennifer Rock, CPA, CITP, a principal in the Nonprofit and Healthcare Groups at Gross, Mendelsohn & Associates, has been appointed to the finance and audit committee of Special Olympics Maryland, an organization dedicated to providing life-changing sports training and competition opportunities to Maryland’s citizens with intellectual disabilities.

DON’T MISS THE FULL LIST OF UPCOMING CPE COURSES IN-PERSON EVENTS AND COURSES: Page 39

ONLINE EVENTS AND COURSES: Page 46

Mike Shakoordokt has been named an in-charge accountant with DeLeon and Stang Certified Public Accountants and Advisors.

Ricardo Trujillo, CPA, CITP, CISA, has been promoted to partner with Gelman, Rosenberg & Freedman CPAs.

APRIL 2018

35

CLASSIFIEDS job openings GROSSBERG COMPANY, LLP

Experienced Accountants: For over 90 years, Grossberg Company LLP has been a premier provider of accounting, tax and business consulting services, specializing in services to the real estate industry. Grossberg Company LLP has a well-known reputation of unparalleled client satisfaction. At the heart of this success, are professional staff members who possess the skills and training required to survive in the ever-changing world of new tax laws and regulations, advanced technologies and strategic business planning. Built on decades of hard work and timely responsiveness to clients, Grossberg Company LLP devotes a substantial amount of firm resources to training its people, keeping them apprised of the latest developments that may affect their client’s business operations, tax planning strategies and their long-term business objectives. As a result, the employees of Grossberg Company LLP are some of the best and brightest in their field and the casual, laid-back working atmosphere lends itself to producing successful, satisfied professionals. This is an integral part of who we are, why we are successful, and how we have maintained our reputation as one of the best firms in the country.

Growth in our business has created opportunities for experienced accountants in our Bethesda, Maryland office. If you are seeking to the move to the next level in your career, consider joining the Grossberg Team!

We are seeking: • Tax Managers/Reviewers • Tax Supervisors • Tax Seniors Requirements: • BS/BA degree in Accounting or related field • 3 to 10+ years of experience • Tax or audit and accounting experience in a public accounting arena • Ability to research and apply concepts to clients’ situations • Proficiency in technical writing and research • Ability to communicate with staff at all levels • Comfortable with working in a team environment

mergers & acquisitions ACCOUNTING PRACTICE SALES

Interested in Buying a Practice? See local and nationwide listings at www.APS.net and register for free email updates or call us at 1-800-397-0249.

THINKING OF SELLING YOUR PRACTICE? Accounting Practice Sales is the leading marketer of tax and accounting 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 to help you find the right fit for your firm, negotiate the best price and terms and get the deal done. We welcome the opportunity to talk to you about our risk-free and confidential services. For more information please call Bradley Holmes with the APS Holmes Group at 1-800-3970249 or email Bradley@APS.net.

HOW TO SUBMIT A CLASSIFIED AD To submit a classified ad, contact Krislyn Suljak at krislyn@macpa.org, or 443-632-2307.

REPLIES TO ADS WITH FILE NUMBER: Email krislyn@macpa.org, or reply via mail: Krislyn Suljak MACPA | Classified Ads 901 Dulaney Valley Road, Suite 800 Towson, MD 21204

Grossberg Company LLP offers a competitive compensation package including training and opportunities for advancement; medical, dental, disability insurance, life insurance, retirement program including profit sharing; paid holidays and vacation, summer half-day Fridays, company sponsored gym membership, and a business casual attire dress code.

Qualified candidates should apply on-line at: http://grossberg.catsone.com/careers

36

STATEMENT

Time Time Tracking Tracking and and Accounting Accounting in in one. one.

Job & shift scheduling Job & shift scheduling Custom alerts and notifications Custom alerts and notifications Mobile apps with GPS tracking Mobile apps with GPS tracking Reliable, accurate invoicing Reliable, accurate invoicing Precise job costing Precise job costing Streamlined payroll Streamlined payroll

“Administrative time in a company “Administrative time in a company can be extremely costly. Since I can be extremely costly. Since I found TSheets, profits are up, and found TSheets, profits are up, and clients are flying in the door. I am clients are flying in the door. I am very thankful.” very thankful.”

Dawn Brolin Dawn Brolin CPA, MSA, Powerful Accounting CPA, MSA, Powerful Accounting

Check out our FREE program for QuickBooks ProAdvisors!

Check out our FREE program for QuickBooks ProAdvisors!

APRIL 2018

TSheets.com/pros TSheets.com/pros

888-836-2720 | support@tsheets.com 888-836-2720 | support@tsheets.com

37

DATE DATE

COURSE TITLE COURSE TITLE

CPE

TIME

CPE TIME MEMBER NON-MEM. LOCATION MEMBER NON-MEM EVENT ID LOCATION

MACPA COULDN’T DO EVERYTHING THAT WE DO FOR OUR MEMBERS WITHOUT OUR PREFERRED PROVIDERS & MEDIA SPONSOR

For information about sponsoring MACPA programs or to learn more about advertising with the MACPA please contact Amy Puente at 443.632.2323 or amyp@macpa.org.

38

Group discounts are available.

STATEMENT

DATE

COURSE TITLE

CPE

TIME

Upcoming IN-PERSON Events & Courses DATE

COURSE TITLE

MEMBER

NON-MEM. LOCATION

WEBCAST Events & Courses: page 46 CPE

TIME

MEMBER

NON-MEM. LOCATION

AC CO U N TIN G & AUDITIN G (IN -PE R SON) 4/26/18

Recognizing and Responding to Fraud Risk in Governmental and Not-for-Profit Organizations

8

8 AM – 3:30 PM

$295

$395

Timonium

4/27/18

2018 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8

8 AM – 5 PM

$270

$370

College Park

4/30/18

Accounting Standards Review for Controllers and Finance Professionals

8

8 AM – 3:30 PM

$295

$395

Columbia

5/7/18

2018 Employee Benefit Plan Conference

8

8 AM – 4:30 PM

$300

$400

Columbia & Online

5/17/18

Accounting and Reporting for Not-for-Profit Organizations

8

8 AM – 3:30 PM

$295

$395

Columbia

5/21/18

Auditing Employee Benefit Plans

8

8 AM – 3:30 PM

$295

$395

Columbia

5/22/18

Audits of 401(k) Plans

8

8 AM – 3:30 PM

$295

$395

Timonium

5/23/18

Hot Topics in Accounting & Auditing (Accounting Updates)

4

12 PM – 3:30 PM

$150

$200

Columbia

5/30/18

Accounting and Auditing Current Developments

8

8 AM – 3:30 PM

$230

$330

Frederick

6/6/18

MACPA Young Professional Town Hall - Spring 2018

4

1 PM – 5 PM

$0

$250

Fells Point

6/27/18

Beach Retreat: Accounting and Auditing Update

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/27/18

Beach Retreat: Preparation, Compilation, and Review Engagements Update

4

12 PM – 3:30 PM

$150

$200

Ocean City

6/27/18

Beach Retreat: Not-for-Profit Organizations: Key Accounting and Reporting Considerations

4

12 PM – 3:30 PM

$150

$200

Ocean City

6/28/18

Beach Retreat: Data Breaches & Other Cyber Frauds: A 21st Century Risk to your Organization

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/28/18

Beach Retreat: Find Out What’s new for Not-for-Profit Organizations and Their Accountants

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/28/18

Beach Retreat: The New Revenue Recognition Standard

4

12 PM – 3:30 PM

$150

$200

Ocean City

6/28/18

Beach Retreat: Emerging Leaders Track - All Day Thursday

7

8 AM – 4 PM

$300

$350

Ocean City

6/29/18

Beach Retreat: The Future Ready CPA - How to Jump Ahead and See What’s Coming Next

4

7:30 AM – 11 AM

$150

$200

Ocean City

12/6/18

2018 CPA Summit

7

8 AM – 4 PM

$280

$380

Towson & Online

APRIL 2018

39

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

BLI LEADERSHIP (IN-PERSON)

B LI LE A D E R S H IP (IN-PE R S ON ) 3/28/18

Introduction to Big Data

4

8 AM – 11:30 AM

$130

$180

Columbia

4/26/18

Controller & Financial Professional Series 2018 Part 2: Internal Factors Impacting Business

8

8 AM – 3:30 PM

$295

$395

Timonium & Online

4/27/18

Ethics: 50 Shades of Gray

4

8 AM – 11:30 AM

$150

$200

Columbia

5/24/18

Make it Happen! The Art of Discipline and Getting Things Done

4

8 AM – 11:30 AM

$130

$180

Columbia

5/31/18

Controller & Financial Professional Series 2018 Part 3: Soft Skills for the CPA

8

8 AM – 3:30 PM

$295

$395

Timonium & Online

6/14/18

Quarterly Financial Leaders Series - The Business of the Future

4

8 AM – 12 PM

$180

$230

Columbia

6/26/18

From Compliance to Consulting Workshop

16

8 AM – 3:30 PM

$1,500

$1,800

6/27/18

Beach Retreat: Key Issues Impacting Business Growth in 2018

4

12 PM – 3:30 PM

$150

$200

Ocean City

6/28/18

Beach Retreat: Key Business Concepts & Best Practices for 2018

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/28/18

Beach Retreat: Leadership Skills for the Accounting & Financial Professional

4

12 PM – 3:30 PM

$150

$200

Ocean City

6/28/18

Beach Retreat: Emerging Leaders Track - All Day Thursday

7

8 AM – 4 PM

$300

$350

Ocean City

8/15/18

2018 MACPA Leadership Academy

20

8:30 AM – 5 PM

$1,500

$1,500

Towson

Towson

B U S I N E S S & IN D US TRY (IN -PE R SON ) 4/25/18

Excel Pivot Tables in-depth, PowerPivot Tips, and Data Analysis Functions

8

8 AM – 3:30 PM

$330

$480

Columbia

4/26/18

Controller & Financial Professional Series 2018 Part 2: Internal Factors Impacting Business

8

8 AM – 3:30 PM

$295

$395

Timonium & Online

4/27/18

2018 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8

8 AM – 5 PM

$270

$370

College Park

4/27/18

Ethics: 50 Shades of Gray

4

8 AM – 11:30 AM

$150

$200

Columbia

4/30/18

Accounting Standards Review for Controllers and Finance Professionals

8

8 AM – 3:30 PM

$295

$395

Columbia

5/8/18

Excel Advanced Features, Functions, Pivot Tables and the Macro Recorder

8

8 AM – 3:30 PM

$330

$480

Columbia

5/31/18

Controller & Financial Professional Series 2018 Part 3: Soft Skills for the CPA

8

8 AM – 3:30 PM

$295

$395

Timonium & Online

6/1/18

2018 Forensic Valuation Conference

8

8 AM – 4:35 PM

$279

$379

Baltimore

6/14/18

Quarterly Financial Leaders Series - The Business of the Future

4

8 AM – 12 PM

$180

$230

Columbia

6/19/18

PowerPoint & Excel Data Visualization Create Dynamic Financial Presentations, Charts, Graphs and Diagrams

8

8 AM – 3:30 PM

$330

$480

Columbia

6/26/18

From Compliance to Consulting Workshop

16

8 AM – 3:30 PM

$1,500

$1,800

6/27/18

Beach Retreat: U.S. & Global Economic Update for 2018

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/27/18

Beach Retreat: Key Issues Impacting Business Growth in 2018

4

12 PM – 3:30 PM

$150

$200

Ocean City

40

Group discounts are available.

Towson

STATEMENT

ETHICS WITH THE ESQUIRES Ethics CPE hosted in partnership with the Maryland State Bar Association.

Ethics: 50 Shades of Gray April 27, 2018 | Columbia | CPE: 4 macpa.org/50-shades

Take the Leap From Compliance to Consulting

June 26-27, 2018 Towson CPE: 16

With the increased velocity of technological advancements, artificial intelligence, and machine learning, how do you hone your skills to be ready for the future?

Join Sage, MACPA and BLI for a 2-day workshop, led by VeraSage Institute Senior Fellow and award-winning speaker, Ed Kless, where you will learn how to better serve your customers by understanding what it truly means to be a consultant.

blionline.org/TakeTheLeap

APRIL 2018

41

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

BUSINESS & INDUSTRY (IN-PERSON), CONTINUED 6/28/18

Beach Retreat: Key Business Concepts & Best Practices for 2018

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/28/18

Beach Retreat: Leadership Skills for the Accounting & Financial Professional

4

12 PM – 3:30 PM

$150

$200

Ocean City

8/15/18

2018 MACPA Leadership Academy

20

8:30 AM – 5 PM

$1,500

$1,500

12/6/18

2018 CPA Summit

7

8 AM – 4 PM

$280

$380

Towson & Online

Towson

EM P LO Y E E B E N EFITS (IN-PE R S ON ) 5/7/18

2018 Employee Benefit Plan Conference

8

8 AM – 4:30 PM

$300

$400

Columbia & Online

5/21/18

Auditing Employee Benefit Plans

8

8 AM – 3:30 PM

$295

$395

Columbia

ET HI CS ( IN - PE R S ON ) 4/27/18

Ethics: 50 Shades of Gray

4

8 AM – 11:30 AM

$150

$200

Columbia

5/23/18

A Practical Ethics Update for CPAs: 2018 Edition

4

8 AM – 11:30 AM

$150

$200

Columbia

6/29/18

Beach Retreat: Real World Ethics for the CPA

4

7:30 AM – 11 AM

$150

$200

Ocean City

FR A U D & F O R E NSIC (IN -PE R SON ) 6/28/18

Beach Retreat: Data Breaches & Other Cyber Frauds: A 21st Century Risk to your Organization

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/28/18

Beach Retreat: Cybersecurity Risk Management Program: What You Need to Know

4

12 PM – 3:30 PM

$150

$200

Ocean City

GOV E R N M E N T (IN-PE R S ON ) 4/26/18

Recognizing and Responding to Fraud Risk in Governmental and Not-for-Profit Organizations

8

8 AM – 3:30 PM

$295

$395

Timonium

4/27/18

2018 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8

8 AM – 5 PM

$270

$370

College Park

6/27/18

Beach Retreat: Annual Update for Governments and Not-for-Profits

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/27/18

Beach Retreat: Not-for-Profit Organizations: Key Accounting and Reporting Considerations

4

12 PM – 3:30 PM

$150

$200

Ocean City

4

1 PM – 5 PM

$0

$250

Fells Point

LEG I S LAT IV E & RE G ULATORY (IN-PE RSON) 6/6/18

MACPA Young Professional Town Hall - Spring 2018

NON P R O F IT / N OT-FOR -PR OF IT (IN -P ERSON) 4/26/18

Recognizing and Responding to Fraud Risk in Governmental and Not-for-Profit Organizations

8

8 AM – 3:30 PM

$295

$395

Timonium

4/27/18

2018 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8

8 AM – 5 PM

$270

$370

College Park

5/17/18

Accounting and Reporting for Not-for-Profit Organizations

8

8 AM – 3:30 PM

$295

$395

Columbia

5/22/18

Audits of 401(k) Plans

8

8 AM – 3:30 PM

$295

$395

Timonium

42

Group discounts are available.

STATEMENT

Tax Season Cessation Program Experiencing: • Stress?

• Lack of Sleep?

• IRS induced Nausea?

We have helped thousands sell... and WE CAN HELP YOU!

Delivering Results -One Practice At a time Bradley Holmes Bradley@APS.net

IT’S KARL!

800-397-0249 www.APS.net

Karl J. Ahlrichs, SHRM-SCP, SPHR is one of the most beloved course authors from the Business Learning Institute. He’s also one of the highest-rated instructors providing CPE for MACPA members.

Attend one or more of these upcoming webcasts to GET AHEAD through ANTICIPATION. Anticipate Change: Avoiding Ulcers in the “New Abnormal World” June 11 | Aug 7 | Oct 19 Anticipate Inclusion: Building a Sustainable Culture of Diversity Aug 15 (Complimentary CPE for MACPA Members) Anticipate Engagement: Motivating the Next Workforce May 9 | Aug | Nov 27 Anticipate Development: Moving from Employee to Manager to Leader April 24 | July 10 | Sep 14 | Dec 10 Anticipate Client Needs: Beyond Best Practices in Client & Customer Service Jun 18 | Nov 5 Anticipate Greatness: Building a Productive, Resilient Workforce Sep13 | Oct 11 All of these courses are also available as 24/7 on-demand.

macpa.org/karl

STRATEGIC LEARNING POWERED BY

BUSINESS LEARNING INSTITUTE

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

PERSONAL FINANCIAL PLANNING (IN-PERSON)

PE R S O N A L F IN A NCIAL PLANNING (IN- P ERSO N) 6/12/18

A Practical Guide to Trusts

8

8 AM – 3:30 PM

$295

$395

Columbia

PR A CT I TIO N E R S (IN -PE R SON ) 4/30/18

Accounting Standards Review for Controllers and Finance Professionals

8

8 AM – 3:30 PM

$295

$395

Columbia

12/6/18

2018 CPA Summit

7

8 AM – 4 PM

$280

$380

Towson & Online

TA X ( I N - P E R S O N) 5/15/18

Helping Your Clients Understand Tax, Financial, and Estate Planning Strategies Under the Tax Reform Act

8

8 AM – 3:30 PM

$295

$395

Columbia

5/16/18

Creative Strategies for Buying and Selling a Business

8

8 AM – 3:30 PM

$295

$395

Timonium

6/12/18

A Practical Guide to Trusts

8

8 AM – 3:30 PM

$295

$395

Columbia

6/18/18

Estate Planning - Leveling the Playing Field

8

8 AM – 3:30 PM

$295

$395

Timonium

6/27/18

Beach Retreat: Understanding the Tax Cuts and Jobs Act of 2017 Individual Issues (Mid-Year Tax Update)

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/27/18

Beach Retreat: Art Werner - Day 1 PM

4

12 PM – 3:30 PM

$150

$200

Ocean City

6/28/18

Beach Retreat: Understanding the Tax Cuts and Jobs Act of 2017 Business Issues (Mid-Year Tax Update)

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/28/18

Beach Retreat: Art Werner - Day 2 PM

4

12 PM – 3:30 PM

$150

$200

Ocean City

TE CHN O L O G Y (IN -PE R SON ) 3/28/18

Introduction to Big Data

4

8 AM – 11:30 AM

$130

$180

Columbia

4/25/18

Excel Pivot Tables in-depth, PowerPivot Tips, and Data Analysis Functions

8

8 AM – 3:30 PM

$330

$480

Columbia

5/8/18

Excel Advanced Features, Functions, Pivot Tables and the Macro Recorder

8

8 AM – 3:30 PM

$330

$480

Columbia

6/6/18

MACPA Young Professional Town Hall- Spring 2018

4

1 PM – 5 PM

$0

$250

Fells Point

6/19/18

PowerPoint & Excel Data Visualization Create Dynamic Financial Presentations, Charts, Graphs and Diagrams

8

8 AM – 3:30 PM

$330

$480

Columbia

6/26/18

From Compliance to Consulting Workshop

16

8 AM – 3:30 PM

$1,500

$1,800

6/28/18

Beach Retreat: Data Breaches & Other Cyber Frauds: A 21st Century Risk to your Organization

4

7:30 AM – 11 AM

$150

$200

Ocean City

6/28/18

Beach Retreat: Cybersecurity Risk Management Program: What You Need to Know

4

12 PM – 3:30 PM

$150

$200

Ocean City

6/28/18

Beach Retreat: Emerging Leaders Track - All Day Thursday

7

8 AM – 4 PM

$300

$350

Ocean City

6/29/18

Beach Retreat: The Future Ready CPA - How to Jump Ahead and See What’s Coming Next

4

7:30 AM – 11 AM

$150

$200

Ocean City

12/6/18

2018 CPA Summit

7

8 AM – 4 PM

$280

$380

Towson & Online

44

Group discounts are available.

Towson

STATEMENT

DATE

Attention CPAs:

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

Whether A Decision Maker Looking To Upgrade Your Talent, Or A CPA Looking to Upgrade Yourself/Your Skills, Ask Yourself: Who really chose who in joining your company?

Are you/your professional staff really at the right level where you should be/you need them to be?

Are you/your staff in a position that truly suits your/their personality, values, and professional and personal needs?

Why leave your future to chance?

If you’re seriously interested in making the “right” move for your next hire, I can help you.

I am an actively licensed CPA in Maryland and Virginia and CGMA with over 20 years of experience including public accounting (E&Y) and consulting (KPMG), financial accounting (American Cancer Society), internal audit (Telerate, now part of Thomson Reuters), and recruiting. As a networker who truly enjoys helping others and sharing my career experiences to guide fellow professionals, including writing articles for the AICPA, here is how I can help you: Decision Makers:  Ask you questions, and most likely ask many more questions than other recruiters about your company, duties involved, skills required, corporate culture and more  Work with you on finding the “right” professional that is the “right fit”  Provide you with valuable information about the professionals I work with, the marketplace, what your competitors pay, and more Career Seekers:  Guide you on career paths available in public accounting and industry  Enable you to capitalize on your strengths  Coach you on how to put your best foot forward to find the “right fit”  Advise you when to stay in your current position if that is the right move If you’re interested in working with a recruiter who understands your background, skills, and is genuinely interested in helping you find the “right fit”, then I welcome meeting you!

BETH A. BERK, CPA, CGMA Independent Recruiter

Phone: 301-767-0670 Email: BethABerk@msn.com

Specializing in CPA Firm, Accounting & Finance Positions in Metropolitan DC/MD/NoVA & Baltimore and nearby Suburbs and Richmond/Tidewater too Connecting You To Your Next Hire

TM

Contingency & Retained Staffing Solutions

matching skills, experience & values with needs

APRIL 2018

Serving clients and professionals as an Independent Recruiter since March 2005

45

Upcoming ONLINE Events & Courses

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

A CCO U N TIN G & AUD ITIN G (ONLINE) 4/4/18

Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

1 PM – 5 PM

$159

$199

Online Webcast

4/4/18

Fraud and Cash Receipts: Common Frauds and Internal Controls

4

9 AM – 1 PM

$159

$199

Online Webcast

4/5/18

Fraud: Recent Findings, Red Flags and Corruption Scheme

4

1 PM – 5 PM

$159

$199

Online Webcast

4/9/18

Financial Reporting for Not-for-Profit Entities

4

10:30 AM – 2:30 PM

$159

$199

Online Webcast

4/9/18

Construction Contractors: Accounting, Auditing, and Tax

8

10:30 AM – 6:30 PM

$249

$319

Online Webcast

4/10/18

Financial Instruments: Mastering the New FASB Requirements

8

9 AM – 5 PM

$249

$319

Online Webcast

4/11/18

Documenting Your EBP Audit: What You Need to Know

8

9 AM – 5 PM

$249

$319

Online Webcast

4/12/18

Statement of Cash Flows: Preparation, Presentation, and Use

4

1 PM – 5 PM

$159

$199

Online Webcast

4/17/18

Advanced Defined Contribution Plans Audit Certificate Exam Review

8

9 AM – 5 PM

$399

$499

Online Webcast

4/18/18

Analyzing a Company’s Financial Statement

4

1 PM – 5 PM

$159

$199

Online Webcast

4/19/18

New Required Going Concern Disclosure: Evaluating the Impact on Preparing Financial Statements, Compilations, Reviews and Audits

2

12 PM – 2 PM

$75

$90

Online Webcast

4/19/18

Revenue Recognition: Mastering the New FASB Requirements

8

9 AM – 5 PM

$249

$319

Online Webcast

4/20/18

Leases: Mastering the New FASB Requirements

8

9 AM – 5 PM

$249

$319

Online Webcast

4/24/18

Accounting and Auditing Update

4

9 AM – 1 PM

$159

$199

Online Webcast

4/25/18

Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

4

1 PM – 5 PM

$159

$199

Online Webcast

4/25/18

Audits of 401(k) Plans

8

9 AM – 5 PM

$249

$319

Online Webcast

4/26/18

Preparation, Compilation, and Review Engagements: Update and Review

4

9 AM – 1 PM

$159

$199

Online Webcast

4/27/18

Data Breaches & Other Cyber Frauds: A 21st Century Risk to Your Organization

4

1 PM – 5 PM

$159

$199

Online Webcast

5/3/18

Implementing FASB’s New Lease Standard: ASU 2016-02 Accounting for Leases- Examples and Practical Approaches

4

12 PM – 4 PM

$110

$140

Online Webcast

5/7/18

2018 Employee Benefit Plan Conference

8

8 AM – 4:30 PM

$300

$400

Columbia & Online

5/9/18

Documenting Your EBP Audit: What You Need to Know

8

9 AM – 5 PM

$249

$319

Online Webcast

7/16/18

Implementing FASB’s New Lease Standard: ASU 2016-02 Accounting for Leases - Examples and Practical Approaches

4

9 AM – 1 PM

$110

$140

Online Webcast

46

Group discounts are available.

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

ACCOUNTING & AUDITING (ONLINE), CONTINUED 7/24/18

New Required Going Concern Disclosure: Evaluating the Impact on Preparing Financial Statements, Compilations, Reviews and Audits

2

1 PM – 3 PM

$75

$90

Online Webcast

7/26/18

Grow Your Business from Within: How to Deliver Maximum Value to Clients on Every Engagement

2

11 AM – 1 PM

$75

$90

Online Webcast

8/2/18

How to Identify, Explain, and Present Pertinent Financial Information to Non-Accountants

2

2 PM – 3 PM

$75

$90

Online Webcast

9/26/18

Grow Your Business from Within: How to Deliver Maximum Value to Clients on Every Engagement

2

1 PM – 3 PM

$75

$90

Online Webcast

10/26/18

Implementing FASB’s New Lease Standard: ASU 2016-02 Accounting for Leases - Examples and Practical Approaches

4

8 AM – 12 PM

$110

$140

Online Webcast

11/19/18

How to Identify, Explain, and Present Pertinent Financial Information to Non-Accountants

2

11 AM – 1 PM

$75

$90

Online Webcast

12/6/18

2018 CPA Summit

7

8 AM – 4 PM

$280

$380

Towson & Online

BLI LE A D E R S H IP (ONLINE ) 4/26/18

Controller & Financial Professional Series 2018 Part 2: Internal Factors Impacting Business

8

8 AM – 3:30 PM

$295

$395

Timonium & Online

5/31/18

Controller & Financial Professional Series 2018 Part 3: Soft Skills for the CPA

8

8 AM – 3:30 PM

$295

$395

Timonium & Online

6/11/18

Anticipate Change: Avoiding Ulcers in the “New Abnormal World”

1

12 PM – 1 PM

$35

$45

Online Webcast

8/7/18

Anticipate Change: Avoiding Ulcers in the “New Abnormal World”

1

1 PM – 2 PM

$35

$45

Online Webcast

8/15/18

Anticipate Inclusion - Building a Sustainable Culture of Diversity (FREE FOR MEMBERS)

1

12 PM – 1 PM

$0

$45

Online Webcast

9/4/18

Listening For Leaders: Ask the Question, Discover the Need, Win the Trust

4

11 AM – 3 PM

$110

$140

Online Webcast

9/13/18

Anticipate Greatness: Building a Productive, Resilient Workforce

1

2 PM – 3 PM

$35

$45

Online Webcast

10/11/18

Anticipate Greatness: Building a Productive, Resilient Workforce

1

3 PM – 4 PM

$35

$45

Online Webcast

10/19/18

Anticipate Change: Avoiding Ulcers in the “New Abnormal World”

1

3 PM – 4 PM

$35

$45

Online Webcast

BU S I N E S S & IN D USTRY (ONLINE ) 3/28/18

U.S. GAAP: Review for Business & Industry

4

1 PM – 5 PM

$159

$199

Online Webcast

4/3/18

Financial Forecasting: Planning for Success

4

9 AM – 1 PM

$159

$199

Online Webcast

4/4/18

Conflict and Communication - You vs. Me vs. Them

2

1 PM – 3 PM

$75

$90

Online Webcast

4/5/18

Look, Lead, Love,Learn - (FREE FOR MEMBERS)

2

11 AM – 1 PM

$0

$90

Online Webcast

4/5/18

Fraud: Recent Findings, Red Flags and Corruption Scheme

4

1 PM – 5 PM

$159

$199

Online Webcast

4/6/18

Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors

8

9 AM – 5 PM

$249

$319

Online Webcast

4/9/18

Controller Series: National Infrastructure

1

3 PM – 4 PM

$35

$45

Online Webcast

4/9/18

Construction Contractors: Accounting, Auditing, and Tax

8

10:30 AM – 6:30 PM

$249

$319

Online Webcast

4/10/18

Controller Series: Debt and Equity Mix

1

11 AM – 12 PM

$35

$45

Online Webcast

4/10/18

Forensic Accounting: Uncovering Schemes and Scams

4

1 PM – 5 PM

$159

$199

Online Webcast

4/11/18

Employment Law Update: Examining Critical Issues with FMLA, HIPPA, COBRA, ADA and More

4

1 PM – 5 PM

$159

$199

Online Webcast

4/12/18

Get Out of the Casket and Up to the Podium

2

12 PM – 2 PM

$75

$90

Online Webcast

4/12/18

Employment Law Update: Reducing Employer Liability

4

9 AM – 1 PM

$159

$199

Online Webcast

APRIL 2018

47

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

BUSINESS & INDUSTRY (ONLINE), CONTINU ED 4/13/18

Controller Series: Retirement and Succession Planning

1

3 PM – 4 PM

$35

$45

Online Webcast

4/13/18

Not-for-Profit Accounting and Auditing Update

4

1 PM – 5 PM

$159

$199

Online Webcast

4/18/18

Analyzing a Company’s Financial Statement

4

1 PM – 5 PM

$159

$199

Online Webcast

4/19/18

Risk, Cost, and Cash Management for Controllers and Financial Managers

4

1 PM – 5 PM

$159

$199

Online Webcast

4/20/18

Controller Series: Going Lean

1

12 PM – 1 PM

$35

$45

Online Webcast

4/20/18

Identity Theft: Preventing, Detecting, and Investigating

8

9 AM – 5 PM

$249

$319

Online Webcast

4/20/18

Leases: Mastering the New FASB Requirements

8

9 AM – 5 PM

$249

$319

Online Webcast

4/23/18

The Changing Role of the Controller: Advancing from Tactical to Strategic

4

2:30 PM – 6:30 PM

$159

$199

Online Webcast

4/23/18

U.S. GAAP: Review for Business & Industry

4

10:30 AM – 2:30 PM

$159

$199

Online Webcast

4/24/18

Anticipate Development: Moving From Employee to Manager to Leader

1

10 AM – 11 AM

$35

$45

Online Webcast

4/26/18

Controller & Financial Professional Series 2018 Part 2: Internal Factors Impacting Business

8

8 AM – 3:30 PM

$295

$395

Timonium & Online

4/27/18

Controller’s Update: Today’s Latest Trends

4

1 PM – 5 PM

$159

$199

Online Webcast

5/1/18

Controller Series: Federal, State and Local Deficits

1

2 PM – 3 PM

$35

$45

Online Webcast

5/7/18

Controller Series: Effective Communication and Negotiations

1

1 PM – 2 PM

$35

$45

Online Webcast

5/8/18

Financial Forecasting: Planning for Success

4

9 AM – 1 PM

$159

$199

Online Webcast

5/9/18

Anticipate Engagement: Motivating the Next Workforce

1

3 PM – 4 PM

$35

$45

Online Webcast

5/11/18

The Changing Role of the Controller: Advancing from Tactical to Strategic

4

9 AM – 1 PM

$159

$199

Online Webcast

5/18/18

Excel Power User -Automating with Macros (Part 1)

2

3 PM – 5 PM

$75

$90

Online Webcast

5/31/18

Controller & Financial Professional Series 2018 Part 3: Soft Skills for the CPA

8

8 AM – 3:30 PM

$295

$395

Timonium & Online

6/4/18

Conflict and Communication - You vs. Me vs. Them

2

2 PM – 4 PM

$75

$90

Online Webcast

6/11/18

Anticipate Change: Avoiding Ulcers in the “New Abnormal World”

1

12 PM – 1 PM

$35

$45

Online Webcast

6/13/18

Get Ready for the Fast Future - The Anticipatory CPA (FREE FOR MEMBERS)

1

1 PM – 2 PM

$0

$45

Online Webcast

6/18/18

Anticipate Client Needs: Beyond Best Practices in Client and Customer Service

1

1 PM – 2 PM

$35

$45

Online Webcast

6/21/18

Get Out of the Casket and Up to the Podium

2

2 PM – 4 PM

$75

$90

Online Webcast

6/28/18

Financial Storytelling: The Key in Growing Your Organization to The Next Level

2

10 AM – 12 PM

$75

$90

Online Webcast

7/10/18

Anticipate Development: Moving From Employee to Manager to Leader

1

11 AM – 12 PM

$35

$45

Online Webcast

7/25/18

Controller Series: Retirement and Succession Planning

1

2 PM – 3 PM

$35

$45

Online Webcast

8/1/18

Anticipate Engagement: Motivating the Next Workforce

1

12 PM – 1 PM

$35

$45

Online Webcast

48

Group discounts are available.

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

WE’RE HIRING TOP TALENT! Grossberg is a unique environment where talented and highly sophisticated professionals excel. Our staff and partners are some of the best and brightest in their field, operating at the highest level of professionalism and technical expertise.

Here, you find a culture of people who enjoy the challenge of untangling today’s highly complex web of business, transactional, financial and tax issues, while enjoying the benefits of working at one of the area’s premier firms.

Our mentorship program ensures that everyone has access to one-on-one training by industry experts who encourage their professional development. In addition, the boutique nature of our firm allows us to interact regularly and learn from one another in more casual ways. This provides us with the ability to offer skilled professionals tremendous opportunities for growth and job satisfaction, as well as a great work environment.

Our culture is defined by our people. We pride ourselves on fostering an environment of collegiality and camaraderie; we truly care about each other and work together to meet the 10 Things

Professionals Want Most 1. Purpose 2. Goals 3. Responsibility 4. Autonomy

demands of our elite group of clients. It is only through this teamwork that we are able to meet our professional demands, advance our business and technical skills, and still support each other to maintain a healthy work/family life balance.

This is an integral part of who we are, why we are successful, and how we have maintained our reputation as one of the best firms in the country. That’s why for over 90 years, we have our clients’ most trusted business advisor.

Growth in our business has created new opportunities for experienced CPAs. If you are seeking to the move to the next level in your career,

5. Flexibility

consider joining the Grossberg team!

6. Development

Qualifications

7. Opportunity

• 5+ years of professional experience in public accounting

8. Transparency 9. Rewards 10. GROSSBERG

• Ability to research issues and apply concepts to clients’ situations • Proficiency in technical writing and research • Ability to communicate with clients and staff at all levels • Comfortable with working in a team environment

Looking for an exciting new opportunity, and a Great Place to Work?

Apply at www.Grossberg.com Grossberg Company LLP 6500 Rock Spring Drive Suite 200 Bethesda, MD 20817 APRIL 2018

Trusted Business Advisor Since 1924

49

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

BUSINESS & INDUSTRY (ONLINE), CONTINUED 8/2/18

How to Identify, Explain, and Present Pertinent Financial Information to Non-Accountants

2

2 PM – 3 PM

$75

$90

Online Webcast

8/7/18

Anticipate Change: Avoiding Ulcers in the “New Abnormal World”

1

1 PM – 2 PM

$35

$45

Online Webcast

8/9/18

Controller Series: Leadership and the Tone at the Top

1

4 PM – 5 PM

$35

$45

Online Webcast

8/10/18

Controller Series: Inflation, Deflation, and Stagflation

1

12 PM – 1 PM

$35

$45

Online Webcast

8/13/18

Get Ready for the Fast Future - The Anticipatory CPA (FREE FOR MEMBERS)

1

11 AM – 12 PM

$0

$45

Online Webcast

8/20/18

Financial Storytelling: The Key in Growing Your Organization to The Next Level

2

11 AM – 1 PM

$75

$90

Online Webcast

9/7/18

Controller Series: Uncertainty & Managing Growth

1

12 PM – 1 PM

$35

$45

Online Webcast

9/12/18

Controller Series: Effective Communication and Negotiations

1

4 PM – 5 PM

$35

$45

Online Webcast

9/12/18

Excel Power User - Automating with Macros (Part 1)

2

1 PM – 3 PM

$75

$90

Online Webcast

9/13/18

Anticipate Greatness: Building a Productive, Resilient Workforce

1

2 PM – 3 PM

$35

$45

Online Webcast

9/14/18

Anticipate Development: Moving From Employee to Manager to Leader

1

1 PM – 2 PM

$35

$45

Online Webcast

9/18/18

Controller Series: Competing Globally

1

2 PM – 3 PM

$35

$45

Online Webcast

9/20/18

Controller Series: Good Customer Criteria and the Credit Process

1

10 AM – 11 AM

$35

$45

Online Webcast

9/24/18

Controller Series: Going Lean

1

2 PM – 3 PM

$35

$45

Online Webcast

10/4/18

Conflict and Communication - You vs. Me vs. Them

2

10 AM – 12 PM

$75

$90

Online Webcast

10/8/18

Controller Series: Retirement and Succession Planning

1

4 PM – 5 PM

$35

$45

Online Webcast

10/11/18

Anticipate Greatness: Building a Productive, Resilient Workforce

1

3 PM – 4 PM

$35

$45

Online Webcast

10/17/18

Controller Series: Leadership and the Tone at the Top

1

11 AM – 12 PM

$35

$45

Online Webcast

10/19/18

Anticipate Change: Avoiding Ulcers in the “New Abnormal World”

1

3 PM – 4 PM

$35

$45

Online Webcast

10/25/18

Controller Series: Enterprise Risk Management

1

1 PM – 2 PM

$35

$45

Online Webcast

10/29/18

Controller Series: Human Resource Effectiveness

1

2 PM – 3 PM

$35

$45

Online Webcast

11/5/18

Anticipate Client Needs: Beyond Best Practices in Client and Customer Service

1

4 PM – 5 PM

$35

$45

Online Webcast

11/8/18

Controller Series: Federal, State and Local Deficits

1

11 AM – 12 PM

$35

$45

Online Webcast

11/9/18

Get Ready for the Fast Future - The Anticipatory CPA (FREE FOR MEMBERS)

1

12 PM – 1 PM

$0

$45

Online Webcast

11/12/18

Get Out of the Casket and Up to the Podium

2

1 PM – 3 PM

$75

$90

Online Webcast

11/16/18

Controller Series: Debt and Equity Mix

1

2 PM – 3 PM

$35

$45

Online Webcast

11/19/18

How to Identify, Explain, and Present Pertinent Financial Information to Non-Accountants

2

11 AM – 1 PM

$75

$90

Online Webcast

11/20/18

Controller Series: National Infrastructure

1

1 PM – 2 PM

$35

$45

Online Webcast

11/27/18

Anticipate Engagement: Motivating the Next Workforce

1

1 PM – 2 PM

$35

$45

Online Webcast

12/6/18

2018 CPA Summit

7

8 AM – 4 PM

$280

$380

Towson & Online

12/10/18

Anticipate Development: Moving From Employee to Manager to Leader

1

3 PM – 4 PM

$35

$45

Online Webcast

12/11/18

Controller Series: Competing Globally

1

11 PM – 12 PM

$35

$45

Online Webcast

50

Group discounts are available.

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

EMPLOYEE BENEFITS (ONLINE)

EM P LO Y E E B E N EF ITS (ON LIN E ) 4/11/18

Employment Law Update: Examining Critical Issues with FMLA, HIPPA, COBRA, ADA and More

4

1 PM – 5 PM

$159

$199

Online Webcast

5/7/18

2018 Employee Benefit Plan Conference

8

8 AM – 4:30 PM

$300

$400

Columbia & Online

Controller Series: Human Resource Effectiveness

1

2 PM – 3 PM

$35

$45

Online Webcast

10/29/18

ETHI CS ( O N L IN E) 4/16/18

The Ethics of Change - Keeping Your Balance in Risky Times

2

12 PM – 2 PM

$75

$90

Online Webcast

4/16/18

Why We Stray: A Different Look at Ethical Decision-Making

2

2:30 PM – 4:30 PM

$75

$90

Online Webcast

5/29/18

Ethics: Critical Thinking, Case Studies, and Fraud

4

11 AM – 3 PM

$110

$140

Online Webcast

6/20/18

Ethics and Technology: How to Out-Smart Your Smart Phone

4

1 PM – 5 PM

$110

$140

Online Webcast

7/27/18

Ethics: Critical Thinking, Case Studies, and Fraud

4

10 AM – 2 PM

$110

$140

Online Webcast

8/13/18

The Ethics of Change - Keeping Your Balance in Risky Times

2

3 PM – 5 PM

$75

$90

Online Webcast

8/13/18

Why We Stray: A Different Look at Ethical Decision-Making

2

12:30 PM – 2:30 PM

$75

$90

Online Webcast

9/25/18

Ethics: Critical Thinking, Case Studies, and Fraud

4

1 PM – 5 PM

$110

$140

Online Webcast

10/9/18

Ethics and Technology: How to Out-Smart Your Smart Phone

4

11 AM – 3 PM

$110

$140

Online Webcast

11/6/18

Ethics: Critical Thinking, Case Studies, and Fraud

4

11:30 AM – 3:30 PM

$110

$140

Online Webcast

12/6/18

The Ethics of Change - Keeping Your Balance in Risky Times

2

12 PM – 2 PM

$75

$90

Online Webcast

12/6/18

Why We Stray: A Different Look at Ethical Decision-Making

2

2:30 PM – 4:30 PM

$75

$90

Online Webcast

G O VE R N M E N T (ONLINE ) 4/6/18

Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors

8

9 AM – 5 PM

$249

$319

Online Webcast

4/13/18

Applying the Uniform Guidance in Your Single Audits

8

9 AM – 5 PM

$249

$319

Online Webcast

N O N P R O F IT / N O T-FOR -PR OF IT (ONLINE) 4/6/18

Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors

8

9 AM – 5 PM

$249

$319

Online Webcast

4/13/18

Not-for-Profit Accounting and Auditing Update

4

1 PM – 5 PM

$159

$199

Online Webcast

4/25/18

Audits of 401(k) Plans

8

9 AM – 5 PM

$249

$319

Online Webcast

4

9 AM – 1 PM

$159

$199

Online Webcast

7

8 AM – 4 PM

$280

$380

Towson & Online

PER S O N A L F IN A NCIAL PLAN N IN G (ONLINE) 4/10/18

Social Security and Medicare: Maximizing Retirement Benefits

PRA CT I TIO N E R S (ON LIN E ) 12/6/18

2018 CPA Summit

APRIL 2018

51

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

TAX (ONLINE)

TAX ( ON L IN E ) 4/10/18

Social Security and Medicare: Maximizing Retirement Benefits

4

9 AM – 1 PM

$159

$199

Online Webcast

4/25/18

Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

4

1 PM – 5 PM

$159

$199

Online Webcast

TECHN O L O G Y (ON LIN E ) 4/3/18

Adobe Acrobat Best Practices and Productivity Features

2

1 PM – 3 PM

$75

$90

Online Webcast

6/6/18

Adobe Acrobat Best Practices and Productivity Features

2

11 AM – 1 PM

$75

$90

Online Webcast

7/24/18

Microsoft Outlook and Word 2010: Productivity Tips and Tricks

2

10 AM – 12 PM

$75

$90

Online Webcast

8/14/18

Adobe Acrobat Best Practices and Productivity Features

2

9 AM – 11 AM

$75

$90

Online Webcast

11/6/18

Microsoft Outlook and Word 2010: Productivity Tips and Tricks

2

10 AM – 12 PM

$75

$90

Online Webcast

12/3/18

Adobe Acrobat Best Practices and Productivity Features

2

12 PM – 2 PM

$75

$90

Online Webcast

12/6/18

2018 CPA Summit

7

8 AM – 4 PM

$280

$380

Towson & Online

J U M P S TA R T Y O U R C A R E E R A S A N

UNDERGRAD

STUDENT

LEADERSHIP ACADEMY May 31 - June 2 | Towson F O R U N D E R G R A D U AT E AC CO UN T I N G S T U D E N T S W H O WA N T T O A C C E L E R AT E T H E I R S U CC E S S S T E P P I N G I N T O T H E CPA P R O F E S S I O N .

APPLY TODAY

macpa.org/studentacademy DEADLINE 5/1

STRATEGIC LEARNING POWERED BY

BUSINESS LEARNING INSTITUTE

STATEMENT

August 15-17, 2018

Sheraton Baltimore North | Towson CPE: 20

Fostering CPAs’ leadership and strategic skills to move careers forward, faster.

STRATEGIC LEARNING POWERED BY

BUSINESS LEARNING INSTITUTE

In the fast-approaching future, successful CPAs must be leaders. Leadership Academy is the starting point for unlocking the full potential in the profession’s best and brightest young CPAs. This three-day event is cited by past participants as an invaluable boost to their careers.

Group registration discounts apply.

KEYNOTE SPEAKERS Tom Hood, CPA Gretchen Pisano, Master in Applied Psychology

macpa.org/LeadershipAcademy

STRATEGIC LEARNING POWERED BY

BUSINESS LEARNING INSTITUTE

Take CPE.

Bring SPF.

JUNE 27-29 Ocean City, MD | Clarion Resort Fontainebleau Hotel | Up to 20 CPE credits The MACPA Beach Retreat is held every year in Ocean City, MD. Members are encouraged to bring families and make Beach Retreat part of a working vacation. Multiple courses are offered every day of the retreat, and participants are invited to take as many (or few) sessions as they like.

Group registration discounts apply.

NEW THIS YEAR Session with Tom Hood, CPA and a Young Professionals Track.

Lunch included for attending two sessions in one day.

macpa.org/BeachRetreat

MARYLAND ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS 901 Dulaney Valley Road, Suite 800 Towson, MD 21204 410.296.6250 | www.macpa.org