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Skyscapes

DECEMBER 2011 November 2011 Vol. 4 Issue 2 Vol. 4 Issue 1

SERVICE TO PROFESSION. SERVICE TO COMMUNITY. SERVICE TO GOVERNMENT. CPAs LEAD THE WAY.

IN THIS ISSUE Review of the KSCPA Annual Meeting Everyone Loves a Winner: A Tale That Yields 7 Clear-cut Winners Jill Muschong

Refining Your Leadership Philosophy & Style Rich Drinon

Member Profile: Alisa Snavely The Walls of Governance Lynn Fountain

2012 Professional Development Schedule

Newsletter of the Kansas Society of CPAs


Happy New Year!

As we wind down from the holidays and begin 2012, we

reflect on the season as not only a time of year when we purchase new toys, visit with our loved ones and engage in chores that may make us crazy, but also as a time to give back.

I am proud to be in a profession that continues to grow and to offer a depth and

breadth of unparalleled expertise to the organizations and clients we serve. We are truly blessed to live in communities that help us succeed and to reap many rewards from the organizations and clients for whom we are “the most trusted advisor.”

It gives me even more pride to know that so many of us give back, and that we give

back in many ways throughout the year and throughout our careers. This is why this issue of Skyscapes, and the theme of our 80th year as the professional association for CPAs in Kansas, SERVICE TO PROFESSION. SERVICE TO COMMUNITY. SERVICE TO GOVERNMENT. CPAs LEAD THE WAY. 2012 is year of festivity for CPAs. Not only is the KSCPA celebrating its 80th

year, the AICPA is marking its 125th year, and my firm, Kennedy and Coe, was also founded 80 years ago. We are a long-standing profession that has weathered the storms and learned to dance in the rain. The CPA credential is recognized and valued among business decision makers and CPAs believe that the credential is valued and respected at their organizations. In fact, the CPA is the most valued credential among business decision makers. Is this because of our education, achievement of the credential, continuing education, or even our code of ethics? Yes, but also because of who we are as individuals and the contributions that we continue to make.

During the coming year, the KSCPA team will be contacting you about the

contributions you make within and outside of the workday. On November 14, 2012, at our 80th Annual Meeting, we will publish a history and recognize those who give back. Our 80th anniversary celebration will culminate at a black tie optional gala event at the Wichita Hyatt honoring the past chairs of the KSCPA and our life members. Rich Caturano, chair of the AICPA, will be on hand to help us celebrate. We will end the day with a formal dinner and dance to the music of Lonnie McFadden. Please mark your calendar for this annual meeting and gala – November 14, 2012 – Hyatt Wichita.

I look forward to this year and to serving as chair of the KSCPA.

Warm Regards, Robert Schuster 79th Chair of the KSCPA

DECEMBER 2011 Vol. 4 Issue 2

Officers Robert J. Schuster, Chair, Designated AICPA Council Representative M. Aron Dunn, Vice Chair Melinda A. Hitz, Secretary/Treasurer John H. Bruckner, Immediate Past Chair Board of Directors (Term Expires 2012)

Chet Buchman M. George Durler Lewis R. Erickson Gregg C. Goodwin Michelle Schneider

Board of Directors (Term Expires 2013)

James K. Boomer Ginger L. Farney Carolyn C. George Mindi A. Ormiston Matthew R. List

Board of Directors (Term Expires 2014)

is as follows:

Skyscapes

Rebecca J. Casey Sean M. Copp Charles Gnizak Trisha A. Cavanaugh James A. Wurbs Rodney G. Van Norden, KSBOA Liaison Gary C. Allerheiligen, AICPA Council Rep.

Educational Foundation Board of Trustees John C. Rich, Chair Norman P. Hope, Vice Chair Kenneth A. Selzer, Secretary/Treasurer Kyle J. Hawk John W. Denney Paul T. Mason Cheryl G. Hayward Johanna D. Lyle Political Action Committee Denis W. Miller, Chair James T. Clark, Treasurer DeAnn A. Hill Eric J. Larson Leon C. Logan Kathryn J. Mitchell Michael V. Rogers Mary R. MacBain, MS, CPA.CITP President/CEO Karen Mitchell, CPA Finance Director Marlene Shellenberger, Administrative Manager Danielle Bulson, Membership & Communications Coordinator Kevin Moravec, Graphic Designer Rita Barnard, Peer Review Administrator Editors: Mary R. MacBain, Editor-in-Chief Contributing Writers: Jill Muschong; Rich Drinon; Lynn Fountain, CPA; Marlee Carpenter; Mike Urbom, CPA.CITP The Kansas Society of Certified Public Accountants, Inc. 100 SE 9th Street, Suite 502 Topeka, KS 66612-1213 Phone: 785.272.4366, FAX: 785.272.4468


CONTENTS FEATURES

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Everyone Love a Winner

06

by Jill Muschong

by Rich Drinon

A Tale That Yields 7 Clear-cut Winners

Refining Your Leadership Philosophy & Style

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Member Profile: Alisa Snavely

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The Walls of Governance by Lynn Fountain, CPA

DRINON'S LEADERSHIP EXPRESS

Refining Your Leadership Philosophy & Style

MEMBER PROFILE

Alisa Snavely UPDATES AND UPCOMING EVENTS 16 17 18 19

New KSCPA Members Member News Great Expectations: 2012 Legislative Session Chapter News

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Annual Meeting Wrap-up

30

Conference News

34 35 36 38 42

Upcoming events & New CPA Recognition Dinners

Photos from the Annual Meeting, Professional Issues Update, and Leadership Summit Photos from the 61st Annual Kansas Tax Conference and K2’s Heartland Technology Conference

Understanding the New Chartered Global Management Accountant Designation You Always Get More Than You Give Terri Polley, President/CEO of FAF Holds Roundtables in Kansas 2012 Professional Development and Events Classified Ads

Statements of fact and opinion are made by authors alone and do not imply an opinion on the part of the officers or members of the KSCPA. Publication of an advertisement in Skyscapes does not constitute an endorsement of the product or service by Skyscapes or the KSCPA. Copyright © 2012 Kansas Society of CPAs; Topeka, KS. All rights reserved.


December 2011

Featured Article

Everyone Loves a Winner

A Tale that Yields 7 Clear-cut Winners ARTICLE BY JILL MUSCHONG

WIN – for the home owner WIN – for the non-profit organization who receives contributions WIN – for the community WIN – for the environment WIN – for the youth who need jobs and training WIN – for the homeowner as a taxpayer WIN – for the profession

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leven years ago my husband and I bought a 1100 square-foot cedar home positioned on a serene bay in a private lake community. We referred to our second home as “our peace of heaven” as this served our weekend retreat to gather with our children and extended family to escape the rigorous pace of our jobs in the Chicago area. Today, we are empty nesters with married children and a growing family in need of more square footage. It was time to build our permanent retirement home. Our cedar home, although dated and small, was constructed with solid cedar paneling throughout, hardwood floors, and a tongue and groove pine ceiling with cedar beams. We had contractor quotes for an extreme remodel, but this option was impractical, and we were advised to tear down the home and build new. We were quoted $10,000.00 for the labor, heavy equipment operators, and landfill fees to tear down our lake home.

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Skyscapes - Newsletter of the Kansas Society of CPAs A combination of sentiment and a desire for charitable giving led us to call Habitat for Humanity to donate our home. They referred me to Rockford Community Solutions. I spoke with Bill Howard, Project Manager/ Green Deconstruction. He was immediately interested in the project and visited our home site. He described his program called YouthBuild/Rockford. YouthBuild is a unique program serving out of school youth ages 16-24 who are from low-income communities who have dropped out of school and are unemployed. It provides academic education, vocational skills training, personal counseling, positive peer support, leadership development, job placement and follow-up support. Young people spend half their time in academic programming and the other half learning skills in construction or computer technology. Leadership development is a key part of the program, with classes, activities, and leadership positions within the organization providing a foundation for preparing youth to play important roles in their communities. Youth participate in the governance of the program through an elected Youth Policy Council and Community Leadership Committee; serve on local, state and national groups, including the Illinois YouthBuild Coalition, the national YouthBuild Young Leaders and Alumni Council, and others. Graduates have the opportunity to serve on the agency Board of Directors. We were quoted a contribution of $8,600.00 to YouthBuild to deconstruct our house. We obtained an appraisal on our home without the lot. After the deconstruction process, YouthBuild/Rockford furnished us a list of recycled materials, board feet of cedar, pine, pounds of copper, etc. which we contributed to YouthBuild. An appraisal of the reclaimed value of the materials contributed is $45,000.00, which is tax deductible when claimed on Form 8283 of our 1040 (Non-cash Charitable Contributions). All of the materials have been salvaged with the exception of the roof, the drywall and the foundation. A crew of 4 YouthBuild students arrived on our property and in 3 weeks, exactly the timeline quoted to us, our home was deconstructed in an orderly fashion. Each day, the materials were hauled off the site to the organization’s store in Rockford, Salvage Too...the equivalent of a Home Depot for recycled goods. The framing materials for our home were posted on eBay and the frame was sold on eBay within 3 weeks. The proceeds from the materials sold at the Salvage Too store and the sale of the house framing kit on eBay yielded more funds for the organization. It was rewarding for us to watch this process unfold. Our beloved lakehouse was not going into a dump. We did not have to write a check for $10,000.00. We anticipate a positive cash flow of $2,000.00 when we file our income tax. We got to know the YouthBuild crew and watching young people work hard and take pride in their work is always a rewarding experience. We felt good about donating to a charitable organization, and knowing some new family would be enjoying a least a part of our home.

Watch this video of the deconstruction! ABOUT THE AUTHOR Jill Muschong is a native of Chicagoland and currently resides between her suburban Chicago apartment and and her lakefront home west of Rockford, Illlinois. She attended Illinois State University and was one of only 3 female students majoring in Industrial Technology/ Graphic Arts Sales and Service. She is a Senior Account Executive at Darwill, a 60 year old privately held communications firm that produces highly personalized multi channel marketing pieces. Passionate about art and design, Jill is currently accumlating eclectic and reclaimed pieces for the new lakehome, including an 1800’s reclaimed hand hewn barn beam for the fireplace mantle, a reclaimed gas fireplace from a home teardown, and lighting fixtures from the 1920’s found at resale shops. She is married to Nick Muschong has 3 grown children and is a breast cancer survivor.

YouthBuild U.S.A. YouthBuild is a national youth and community development program where low-income young people ages 16-24 work toward their GEDs or high school diplomas, learn job skills in the construction trades and serve their communities by building affordable housing while transforming their own lives. There are 273 YouthBuild programs across the country where 100,000 YouthBuild students have built 20,000 units of affordable and increasingly green housing since 1994. Click here to find more information about YouthBuild Kansas City.

Click here to view instructions for Form 8283

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We Provide High Quality Business Education that Enhances the Economic Vitality of the Region 1700 SW COLLEGE AVE. . TOPEKA, KS 66621 . 785.670.1308

Washburn.edu/business


December 2011

Drinon’s Leadership Express

DRINON'S LEADERSHIP EXPRESS

Refining Your Leadership Philosophy & Style DEFINING LEADERSHIP

Rich Drinon, M.A., is a leadership speaker, trainer and coach. Over the past 25 years he has presented thousands of sessions for hundreds of organizations throughout the U.S. and Canada, including KSCPA. He has also conducted individual communication coaching for hundreds of leadership and management executives. Rich has worked in leadership positions for local, statewide, national and international for-profit and nonprofit organizations. He’s a University of New Mexico Journalism graduate, and has a Master’s Degree in Communication & Leadership Studies from Gonzaga University. His magazine articles have appeared in Kansas Business News, New Mexico Business Journal, The New Rock Times Music Magazine and Sports Illustrated. His book, “Stepping Up to Leadership” is the text for a Washburn University sponsored program he instructs on Directions in Organizational Leadership.

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Over the past century much research has been conducted on the topic of leadership. These studies have produced many theories and differing views on the subject. Most definitions contain similar elements; leaders, followers, a hierarchy, some form of influence, and a purpose to be served or goal to be achieved. Because there is no one definition of leadership, the leader is free to choose the elements he or she favors in order to manage one’s situation and get results through others. This article will prepare you to state, develop or define your own unique leadership philosophy and style. EXAMINING LEADERSHIP STYLES & SCHOOLS OF THOUGHT Each leader communicates in their own way, based on a variety of factors, including personality, role models, experience, education, training and the situation. Each follower also has their unique way of reacting or responding to any given leader. It’s challenging to get the leadership – follower fit just right. Leaders must work at developing their skills while better understanding their followers. Followers often have to adjust to a leadership style that does not perfectly suit them. This discussion of leadership styles looks at some basic approaches to leading people.


Skyscapes - Newsletter of the Kansas Society of CPAs

Basic Leadership Styles According to Kendra Van Wagner, in Lewin’s Leadership Styles (2009), what started as a study with schoolchildren turned out to have a dramatic impact on how we’ve viewed leadership styles for the past 70 years. Kurt Lewin, one of the preeminent psychologists of the 20th century, led a team of researchers in 1939 in identifying different styles of leadership. Although new styles of leadership have been named over the years, this study was influential and established the name and description of three major styles: Authoritarian, Democratic and Laissez-Fair. Leaders with the Authoritarian, or Autocratic style, set clear expectations for what needs to be accomplished, when it should be done and how it should be done. Since authoritarian leaders make decisions independently of the group, there is generally a clear distinction between leader and followers. Autocratic leaders can be viewed as controlling, bossy and dictatorial when this style is abused. The most effective style, according to Lewin’s study, was the Democratic or Participative style. Although participative leaders encourage group input, they typically retain final say in making decisions. Group members under this style of leadership feel more engaged in the decision making process and are generally more creative and motivated. Although their contributions are of a much higher quality, members of this group may be less productive than those under authoritarian leadership. The Laissez-Fair or Delegative style of leadership best suits situations where group members are able and willing to work independently. If unable to work independently, members of this group will probably be less productive and make more demands on the leader. They may be less cooperative since Delegative leaders offer little or no guidance to group members, and leave decision making up to the group. In summary, the more independent the followers, the less controlling needs be the leader. And, the more independent the followers, the more likely they will want to take initiative and responsibility for planning, action and results. With more dependent followers, the leader needs to assume control and responsibility for direction, activities and outcomes. Schools of Leadership Thought There are at least eight major leadership schools of thought today. Each school includes various approaches to leadership. In an online article entitled Eight Major Leadership Theories, Kendra Van Wagner describes these major theories as: Great

Man, Trait, Contingency, Situational, Behavioral, Participative, Management and Relationship Theories. She writes, “Early leadership theories focused on what qualities distinguished between leaders and followers, while subsequent theories looked at other variables such as situational factors and skill level. While many different leadership theories have emerged, most can be classified as one of eight major types” (2009). This article is available at http://psychology.about.com/od/leadership/p/ leadtheories.htm?r=et An examination of these major theories raises the following questions: 1. Are people “born leaders,” do some have traits that make them better suited to leadership or can leaders be made? (Great Man, Trait, Behavioral) 2. Does one style fit all when it comes to leading others, or is it more effective to evaluate and respond to each follower and situation differently? (Contingency, Situational) 3. Should power reside with one person at the “top” of an organization or is it better to distribute power, authority and decision making among participants in an organization? (Participative) 4. Is there an effective system of rewards and punishment for improving performance of members in an organization? (Management or Transactional) 5. How important is the relationship or engagement between a leader and followers? How concerned should a leader be with the growth, fulfillment and well being of followers? (Relationship or Transformational) ESTABLISHING AUTHORITY & UTILIZING POWER WITH FOLLOWERS One essential leadership challenge is developing authority with followers. When it comes to the subject of authority – one must consider power, leverage and influence. Although these words can mean the same thing at times, this article assigns each a slightly different application. Power Power can be obvious or not so. Either way, power usually gives one some sort of advantage over, or with, others. Power can include physical, economic, emotional, intellectual, and spiritual or relationship strengths we possess. Power involves who we are, who we know, what we are able to do and what we have at our disposal.

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December 2011

Drinon’s Leadership Express

Authority The match between a leader’s values and actions generally gives them credibility, integrity -- and authority with others. A leader with authority is one that people WANT to follow. Followers watch how closely the leader lives in alignment with the truth he or she pronounces. Walking the walk, talking the talk and living the life – this gives one authority with others. Leverage Leverage also gives the leader an advantage with others. Leverage often pertains to things like rules, policies, procedures, laws and other protocol people must follow to get along, get things done and keep their jobs. As a leader, it’s important to know what legal and policy leverage we have with followers. Influence Influence involves the relationship between the leader and any individual follower or group of followers. The Gallup Organization (2006) did an extensive study that revealed the importance of relationship between leaders and followers. The 20 year study, with 80,000 managers and their organizations, revealed that leaders have a huge impact on the commitment, engagement and productivity of their followers. Key influencers for these followers were feeling cared for by a supervisor or someone at work, receiving recognition on at least a weekly basis and having someone encourage their development. FOLLOWERSHIP The Gallup article revealed the results of a study on worker engagement. Worker engagement has to do with an employee’s committed and positive involvement in the workplace. Gallup placed respondents in three categories: Engaged, Not Engaged and Actively Disengaged. The study indicated that worker happiness and wellbeing can boost engagement and productivity. One important factor that influenced employee happiness and well being was their relationship with their supervisor. Of course, a big part of this issue has to do with the followers. According to Barbara Kellerman author of Followership: How Followers Are Creating Change and Changing Leaders, the follower’s degree of involvement plays a large role in determining the nature of the superior-subordinate relationship. She categorizes followers as Isolates, Bystanders, Participants, Activists and Diehards (2008). Isolates function in a detached manner. Bystanders observe but don’t participate. Participants care enough to try

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and make an impact. Activists have strong feelings about their leaders and organizations, and act accordingly. Diehards, are prepared to go down for their cause – whether for or against the leader. Most leaders prefer followers who do something rather than nothing, and who are more engaged in the organization rather than not engaged or actively disengaged. One important aim for the leader is to find ways to develop participants who are enthused and committed about the work, but not overly zealous or destructive in their devotion. While followers may lack authority, most of us have learned they certainly do not lack power and influence (Kellerman, 2008). IDENTIFYING FOUR PILLARS OF LEADERSHIP Displaying Character Because leaders are on display 24/7/365, they’re always exposed to issues of character, integrity, credibility and trust. There’s no escaping the expectations of others. For this reason alone, not all people are cut out to be leaders. A good starting point in developing one’s character is to begin with an idea of who you want to be and by what standards you choose to live. Integrity means living in alignment with the ideals we embrace. This is also a source of our credibility, and it’s our “credibility” that gives us “credit” with others. Maintaining Commitment One’s family, followers and public can also be sensitive to the individual’s every decision when it comes to keeping commitments. Leaders are expected to keep their commitments. People are disappointed when they don’t. Leaders, however, can also become over-committed when elected, invited or volunteered to serve in multiple leadership roles. At some point, this can result in exhaustion and burnout. Leaders must evaluate how many commitments they have at any given time, and consider which ones stay and which ones are ready to be handled by others. Increasing Consciousness In The Congruent Leader, Corrales & Rhodes (2001) identify three levels of personal growth as Emotional, Rational and Integral stages. The Emotional level refers to a less mature stage where one is more concerned with self and tends to be reactive towards things they don’t like. At the Rational stage life becomes about self and others. At this stage people respond rather than reacting to life’s challenges. At an Integral stage of development, a person sees things as being about everyone and becomes more proactive. From this level the leader can take a higher, inclusive, long term look at the world, and their industry, organization, followers, families, community, etc. Although humans can’t always


Skyscapes - Newsletter of the Kansas Society of CPAs

make themselves grow, the individual can take aim at higher perspectives and work on developing new behaviors until he or she grows into a new level. Practicing Continuation This fourth C, after character, commitment and consciousness is continuation. Many organizations today are asking, “Who will lead us in the future?” It’s not uncommon to see a once inspired group of people, who were rallied by a great leader, begin to falter when there is no replacement in sight. For this reason, it’s important for leaders and members of an organization to identify upcoming talent that can be taught, encouraged, coached and mentored. If we believe in our work and want the organization or movement to continue, we must make leadership continuation a priority. CREATING YOUR UNIQUE PHILOSOPHY & STYLE My boss, at my first job after college, was a highly respected individual named Lee. When Lee spoke, people listened. Since Lee was also our mentor, other managers and employees often quoted him when speaking to others by saying, “Lee’s philosophy is….” Back then I used to wonder when I would be experienced enough to have my own philosophy. Well, that time has come! Here is a statement that neatly sums up my leadership style and philosophy: My Philosophy Title: Results through Relationships Brief Statement My philosophy is entitled “Results through Relationships.” I can only get results if I develop relationships with followers that allow for mutual influence and take us towards the goal. The Schools of Leadership Thought driving my philosophy are Relationship, Situational and Trait Theories. My influences include parents, coaches, teachers and managers, as well as several historical figures. Now, I invite you to draft your leadership philosophy by reviewing the schools of leadership and taking these steps. 1. 2. 3. 4.

Give your philosophy a short, concise title. Briefly describe your philosophy. Name which parts come from what Leadership Theories. Name your most important influences.

Regardless of your philosophy or style, you and your followers will be able to function more effectively if they understand your frame of reference and you understand theirs, and everyone finds ways to work together to accomplish the end results.

SOURCES • • •

• • • •

Corrales, R. & Rhodes, C. (2001). The congruent leader (First ed.). Overland Park, KS: Self Mastery Publishing Kellerman, B. (2008). Followership: How followers are creating change and changing leaders (1st ed.). Boston, MA: Harvard Business Press. Krueger, J., & Killham, E. (2005). At work, feeling good matters. Gallup Management Journal Online, , 1. Retrieved from http://search.ebscohost.com.proxy.foley.gonzaga.edu/login.aspx?d irect=true&db=bth&AN=19656241&site=bsi-live Nahavandi, A (2008). The art and science of leadership. Upper Saddle River, NJ: Prentice Hall Van Wagner, K. (2008). Leadership theories. About.com. Retrieved June 25, 2008 from http://psychology.about.com/od/ leadership/p/leadtheories.htm Van Wagner, K. (2008). Lewin’s leadership styles. Retrieved July 6, 2009 from http://psychology.about.com/od/leadership/a/ leadstyles.htm Yukl, G. (2006). Leadership in organizations (Sixth ed.). Upper Saddle River, NJ: Pearson Prentice Hall.

REGISTER TODAY! Click on one of the upcoming videocast links to register! Recognizing & Relating to Four Behavioral Styles Managing Your Image, Perception & Mis-Perceptions Facing the Challenges of Diversity & Generational Differences Leading Groups & Making Presentations Developing Credibility & Trust with Others Maintaining Focus, Multitasking & Managing Time Getting Results through Others with Coaching Skills (Part 1): Expectations, Delegation & Motivation Getting Results through Others with Coaching Skills (Part 2): Evaluation, Praise, Correction & Discipline Resolving Conflict (With Conflict Style Assessment?) Navigating Change Curves & Using Persuasion to Promote Change Practicing Subjective, Objective & Intuitive Problem Solving & Decision Making

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November 2011

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December 2011

Member Profile

Service to Community

MEMBER PROFILE

Alisa Snavely

1. Name, title, current employer, family:

a. Alisa D. Snavely, Director, Berberich Trahan & Co., P.A. b. Husband-Sean, girls-Madison, age 11 and Libby, age 8

2. What is your current KSCPA involvement?

a. Graduated from the initial “20 up to 40” Leadership class b. Was on the board for the Nor theast Chapter for 6 years and served as Secr/Treas and President

3. What was your first Job?

Besides babysitting, my first real job was as a dishwasher at the Hiawatha Elks Lodge at age 14.

4. What are three words that best describe you?

Caring, Dedicated, Dependable (I know... boring.)

5. What book (if any) are you currently reading?

Just finished Iron House by John Har t - action-packed!

6. What are your hobbies?

I (try to) scrap-book, love to read for pleasure, and keep plenty busy between work and keeping up with the girls.

7. What activities are involved in outside of work?

a. Downtown Rotary - this is my 3rd year serving as Treasurer b. Volunteering - see below

8. Do you volunteer in any community service work, if so where and what made you choose that activity(ies)?

a. TARC’s Winter Wonderland b. Cashier at the annual TSCPL book sale c. Involvement in the UW Christmas Bureau d. Activities through the girls’ school when possible Our firm does volunteer activities together and make it a lot of fun, and it’s always rewarding to help others.

9. Who is the person you most admire and why?

My parents; they taught me hard work by example and gave me my ethical foundation.

10. Name one person (dead or living) you would like to meet. Why?

Eleanor Roosevelt - she was such a courageous leader and did so much for women’s rights as well as for civil rights. She has so many great quotes.

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Skyscapes - Newsletter of the Kansas Society of CPAs 11. What is your greatest accomplishment or greatest impact you have had?

My promotion to Director. All the hard work is paying off!

12. How do you achieve balance between your personal and professional life?

It’s never a 50/50 balance; the percentage is always shifting. Sometimes family has to come first and other times work has to come first. I’m so for tunate that I’m in a situation where both sides understand.

13. What would you like to get around to doing when you have time?

Travel to Hawaii

14. What might people be surprised to learn about you?

I got to take a trip to Ethiopia when my dad was working over there for a couple of years. I will never forget the experience and learned to appreciate and be thankful for everything I have.

15. How would you like to be remembered?

As a giving person

16. Why did you choose to pursue the CPA designation?

Having those letters behind your name gives you that extra credibility.

Would you like to be profiled in the KSCPA Newsletter? This is one of the most widely read articles! Our members want to know more about other members. Join in the fun! Send an e-mail to Danielle@kscpa.org.

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October 21, 2011

Ritz Charles Overland Park

Skyscapes - Newsletter of the Kansas Society of CPAs

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December 2011

Fountain’s Governance Express

The Walls of Governance ARTICLE BY LYNN FOUNTAIN, CPA

ABOUT THE AUTHOR Lynn is an executive practitioner and expert trainer in the risk/internal audit and corporate compliance arena. She is president of Fountain GRC, LLC, a successful consulting firm that delivers strategic financial expertise. Whether it’s internal audit, ERM, Sarbanes-0xley (SOX), governance and compliance, or other areas where your company wants to optimize efficiency and reduce liability/exposure, Lynn has proven expertise that will help you increase productivity. In addition to operating her own consulting firm, Lynn has experience as AVP Internal Audit with Black & Veatch Corporation and served as the Vice President, Risk Assessment & Audit for Aquila, Inc. Lynn has significant experience in internal audit in both private and publically-traded companies. Lynn leads the KSCPA’s Risk Conference (scheduled for May 7, 2012 in Overland Park) and is the course instructor for fraud, internal control, and risk management courses for the KSCPA. She is a 2011 AICPA/KSCPA “Women to Watch” nominee.

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n the early 1990’s, I was a young auditor at a large company. I recall a fellow staff member being assigned a “governance audit”. To be honest, at the time I wasn’t even sure what a governance audit would entail. When the report was issued, I was interested to better understand what types of things involved governance. The report did not have any findings that were considered significant at the time. The company had an external Board of Directors, an Audit Committee, a Code of Conduct, Ethics training, well-defined operating and accounting policies and various other elements that were tagged as part of the governance structure. Interestingly enough, just a few years later, two of the top executives in this company were indicted for various allegations of financial mis-conduct and personal use of company funds and resources. In today’s corporate world, we know that simply having the existence of the various factors considered part of governance is not sufficient. If any type of evaluation of a company’s governance process is to be effective, it must be able to measure how well the company’s various governance processes actually work and not just focus on their existence. It is a bit amazing that the topic of governance is still one that is widely written about and discussed in the professional world yet governance issues continually occur in many companies. You can open a newspaper or the Wall Street Journal on any single day and find instances where a company’s governance processes are in question. Just recently, there was an article regarding a whistleblower for the SEC who reported improprieties with the manner in which records were maintained. In addition, the PCAOB has issued warnings to public companies regarding business conduct in emerging countries, particularly China. Another recent example that is just beginning to unfold is the Olympus scandal. Yet, with all of the talk about governance, why do we still continually see many instances of questionable activities within the corporate walls? In theory, governance refers to the act of governing. It relates to decisions that define expectations, grant power, or verify performance. It consists of either a separate process or is part of management or leadership processes. In the case of a non-profit organization, governance relates to consistent management, cohesive policies, guidance, processes and decision rights for a given area of responsibility. Governance can be seen as the foundation of a company’s overall control environment. Examples include: internal policies; internal governance boards and committees, external boards, internal and external audit, compliance and


Skyscapes - Newsletter of the Kansas Society of CPAs risk committees, etc. It is intriguing to listen and to discuss all the well-publicized instances of governance mis-steps over the past decade. Those are often examples where the violations were significant and we’ve learned that their advent may have been rooted in the very foundation of the culture and business actions of these companies. A past colleague recently had the opportunity to listen to an auditor who was involved in the World Com scandal discovery. He relayed to me that it was interesting to listen to this individual’s chronology of the events. They were a bit different than those we’ve all heard and read about. The auditor indicated that he had brought concerns related to accounting issues to management many months before the actual discovery was brought to light. His recollection was that the early identification coincided with bonus incentive and salary adjustment timing and that the findings were “shelved” until a bit later in the year. Regardless of whether this recollection is indeed true, it brings to mind the concerns many compliance, risk and internal audit professionals have regarding their attempts to bring potential issues to the attention of management. Is it possible that the governance structure surrounding the evaluation of issue significance could be variable based on attributes like: where the issue exists in the organization, time of the year of occurrence or some other reason? As professionals, we would hope this isn’t the case but we often find that this is a common practice. In today’s world where issue impact is often asked to be quantified related to financial performance, it is easy to minimize policy violations or specific governance discrepancies. Let’s take an example: it is observed that the company’s authorization policy (governance attribute) has not been updated in five years. The company’s policy requires it to be reviewed annually. How big of a deal is this? It could be viewed as simply an administrative exercise. But what if the company’s business has dramatically decreased in this time period? This may mean that authorities assigned are no longer aligned with the size of the business. So we’ve determined the cited issue is a policy or governance violation. Now let’s dissect the issue further. Company ABC has revenues of $3B annually. The CEO has been assigned an authority level of $1M for non-capital expenditures. In 2011 the company divested of a portion of its business. Revenues are now $1.5B annually. Does the Board and shareholders believe that the CEO’s approval level should remain constant? There may not be a true black and white answer here. It could depend on the company’s industry, the size of the organization structure or the tolerance level of the Board. In any event, the control finding that the authorization policy has not been updated may be an important issue for management to address. Still, if management requires a quantification of the impact of not having an updated and approved authoriza-

tion policy, this can be a difficult task to accomplish. What do you look at? How do you quantify this type of impact? How deep do you look? And just because you may have had individuals approving items that are above what would be expected, how do you know whether these approvals should be questioned? The answer points back to the need to be able to articulate the importance of control gaps and overall governance processes. Many computations could be developed only to conclude that there has not been any improper expenditure authorized even though the authorization policy has not been updated. However, what consideration is given to what potentially could occur? In other words, the authorization policy is a governance document established to direct the level of expenditures management is comfortable with assigning to personnel. If it is not regularly reviewed, updated and adjusted; what level of probability can be associated with potential approval of expenditures outside management tolerance? This is virtually impossible to determine and points to some of the difficulties when trying to explain to management various issues or findings that may relate to policy violation or governance gaps. Can you now visualize the walls that the concept of governance may create? We build these walls by establishing governing policies and processes and declare that we have a sound governance system because these things exist and the organization is supposed to operate within these walls. Now a gap in one or more of these policies has been identified. How do we measure the impact on the overall governing structure of the company? Or should we consider whether it even matters what impact has occurred, only that the gap exists and what risk the gap presents should an event occur? Possibly this dilemma is the very reason we continue to see governance mis-steps in corporate America. Considering all of these factors, how do we effectively establish the walls of governance and ensure they are solid and can withstand unforeseeable pressures? Here are some thoughts for consideration:

“In today’s corporate world, we know that simply having the existence of the various factors considered part of governance is not sufficient.”

Tone at the Top

Tone must be more than just a phrase. It must be displayed in everyday business activities and dealings. Stated corporate values like respect, accountability, shared ownership etc. must be displayed at all levels of the organization and examples should be readily noted. Things to consider when determining your company’s “tone at the top” may include: • •

How visible and accessible is senior management? Is there an open door policy or is everything controlled by calendars and appointments? Are there significant variances within the organization when defining compensation structure, incentive pay, benefits? If so, are those variances relational to the contribution

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December 2011

• • •

• •

Fountain’s Governance Express

those positions provide to the organization? If not, is there proper justification for the variance? What working atmosphere is embedded in the organization and does the atmosphere allow for a culture of openness? • Are communication methods utilized by management regarding corporate strategy and growth significantly varied in the organization? If so, does this create any type of employee morale issues? • How do office amenities compare for individuals at different levels in the organization? If there is variation, is it considered reasonable related to the organizations business? • Are there any variances for who is allowed to attend training or external events? If so, can the variances be readily supported as to their reasonableness? • Are there variations in travel trends and spending habits? If so, can the variance be substantiated and validated related to their reasonableness? What are the official protocols for communication in the organization? Are there stated or even unstated rules to follow the chain of command? If so, how is this viewed by the general employee population? Are employees free to verbalize their thoughts and observations openly? Is there any fear of repercussions when employees do express their opinions? How is change embraced within the organization? Is it encouraged and embraced or is change slow to happen? If it is slow to happen, can reasons be substantiated or is it explained away by a reasoning such as, “that is just our culture”? Are key decisions made in a collaborative style or dictated style? Are goals reasonable and achievable with all business areas being held to the same performance metrics? How is the code of conduct emphasized throughout the company? Are there any requirements for periodic updates to the code and re-affirmation by employees? Is the code readily available for employees to read? How do you know individuals understand the code? Are vendors provided information about the code? Are there employee turnover trends in certain areas of the company and if so, can the reason be justified? Is the corporate hotline anonymous and free from reprisal? Is it well publicized and communicated to employees? Management should consider hotline activity or non-activity when determining if the process is known, understood and utilized.

Policies and Procedures

Policies that exist should be enforced, monitored by management and regularly evaluated to ensure they are aligned with the objectives of the business. Distinction should be clear between documents that are considered corporate policy and those that are considered mere guidelines. Things to consider when evaluating the effectiveness of policies and procedures include:

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• •

• • • •

Does management pro-actively monitor their policies and compliance or do they wait until someone comes in to check for compliance? How frequently are policies updated to ensure they align with the business? Is there a central repository for policies or is there a process required to periodically certify that policies are updated? Are policy gaps timely remediated and appropriately evaluated to ensure the remediation was effective? Do individuals responsible for the policies have the appropriate authority in the company to ensure they are properly enforced? Is there a reporting mechanism to ensure that policy violations are brought to the attention of the proper level of management? Is it clear which policies are true corporate requirements and which are primarily guidelines?

Internal Committees

Internal committees are established to govern particular policies. If the organization deemed the need for a committee, it should exist further than just in name. Internal Committees may be established for governance over IT processes, authorization expenditure processes, disclosure committees for financial statements, operation standard committees, safety committees etc. When evaluating the effectiveness of a committee that is established as part of the company’s governance structure, consider: • Does the committee have a distinct purpose? Is there a charter available for the committee which outlines authority and deliverables expected? • Is there a pre-defined membership and are attendance requirements adhered to? • Does the committee have appropriate accountability and authority to ensure it can effectively execute its responsibilities? • Are expected deliverables and appropriate reporting responsibilities delivered on a timely basis? • Does a periodic evaluation process exist to ensure the committee is functioning appropriately?

External Boards and Committees

Often, governance concepts begin with these bodies. External boards and committees should ensure they are fulfilling their charters and obligations both in form and content. When evaluating effectiveness of external compliance organizations, consider: •

Are members appropriately qualified for their positions? Do they have experience and background in the business or have do they possess other aspects of knowledge that will effectively contribute to strategies? Are members put through some type of a vetting or qualification process prior to being considered? Are activities of the boards and committees evaluated for effectiveness on an annual basis? If so, how is the evaluation


Skyscapes - Newsletter of the Kansas Society of CPAs • •

completed, who is involved, what happens with the results? Is there periodic rotation in members to ensure adequate independence and facilitate new ideas and strategies? How is the timing of that rotation established? What role does the board take in understanding risk management practices and corporate strategy processes? Is the role simply informative or are they engaged in the process in some manner? Do they have access to internal personnel in order to properly execute their oversight role?

Internal and External Audit

Both Internal and External Audit are important elements of a company’s governing structure. Of course, depending on the company, its industry, its classification of public/private/ not-for-profit/governmental etc., the roles of internal and external audit can have variation. If you’ve ever reviewed benchmarking studies of internal audit groups, you will see how varied the approach can be both within industries and between industries. Much of the determining factor on responsibilities lies in how the organization views the role of the internal auditors. Some companies may require a very compliance-oriented role where others have a focus on risk assurance, risk awareness and risk validation. In any case, one of the most important elements of governance is to ensure that the role of a company’s internal audit function is well-defined and understood. With the advent of internal quality assurance reviews, many functions have tried to enhance their audit charters to reflect the stated role that corresponds to requirements of the Institute of Internal Auditors. As auditors, that is where the profession is guiding the evolution of responsibilities. However, it is imperative that if charters include many broad sweeping attributes, management must have agreed and bought into the concept. As with any policy or charter document, it is important that if it is outlined that a specific action is to be executed in a particular way, the organization must have the ability to execute upon that. Internal Audit (IA), must often become an advocate for change as well as an instructor for the organization regarding the value that can be provided in accepting some of the newer direction for the function. Management and the Board must be able to clearly understand the benefits that a fully engaged Internal Audit function could provide and they must also understand the resources as well as limitations that may be inherent in evolving to that structure. If changes are warranted and agreed to, then IA must define the path that must be taken to get to that stage. From an external audit perspective, variations in how companies manage their relationships can be as broad as how we see Internal Audit functions managed. If you work for a publically-traded company, your external auditors are going to follow a much more stringent and detailed approach to their validation of the financial statements. In other instances, the auditors may be providing a certain level of assurance due to debt or bonding issues or even regulatory issues. As such, the role of the external auditors in a company’s governance structure can also be different. Some items to consider when evaluating the effectiveness of your current arrangement with your external auditors:

• •

• • • •

What is the primary purpose for the audit? Is it due to SEC reporting requirements, regulatory requirements or other reasons? This will often impact the depth and breadth of the work that the auditors are required to perform. Do the auditors have full access to individuals in the organization that they may require to obtain relevant information? This includes everyone from individuals on the Board all the way to individuals at the staff level? When was the last time your organization changed auditors? Is this something that should be considered to ensure appropriate independence? What is the relationship between the external auditors and the internal auditors? Is there clear and open access between the two? Do the external auditors receive all reports issued out of the internal audit function? What reliance do they place on these reports when performing their work? What level of work do the external auditors do to evaluate the potential for fraud in the organization? They are required to do the typical fraud interviews with executive management but is there any process they follow to go beyond those requirements? How does the fee structure work with the external auditors? Are the fees appropriately aligned with the business and the changing nature of the business? Are there variances in opinion between management and the external auditors on areas deemed as significant deficiencies or material weaknesses? What other work do the external auditors provide for the company? Has it been approved by the Audit Committee? What is the relationship between the external auditors and the Audit Committee? Do they meet with the Audit Chair at any time outside of regular meetings?

Compliance Program

With the new Dodd-Frank act as well as the SEC’s new guidelines on whistleblowers and the issues surrounding Foreign Corrupt Practices Act (FCPA) compliance, many companies are scurrying to solidify their compliance programs. Yet even as this is occurring, we often see much more in the way of form over function. Just like policies, it is extremely important to have a solid compliance program document, but if the organization cannot support that outline, then they are creating additional problems. Some items to consider when evaluating the effectiveness of your compliance program are as follows: •

• • •

Is there a full-time compliance officer assigned or is this a responsibility assumed by a professional who has another full-time responsibility? If it is a part-time role, can the organization reasonably execute upon compliance requirements they are held to? Does the compliance function have available resources to execute its responsibilities? Where does the compliance function administratively report? Is it appropriately independent? Is there a compliance council to support the compliance program? Does it meet regularly? Does it have a defined

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December 2011

• •

• • • •

Service to Government

membership and are the members at an appropriate level in the organization to enforce rules? How is the effectiveness of the compliance program monitored? What type of training is utilized for the compliance program? How often does it occur and who receives and executes the training? If the training is on-line, how is its effectiveness evaluated? When was the last time all employees were required to reaffirm the code of conduct and conflict of interest policy? Is there a separate policy for officers? If so, how does it differentiate from the policy that covers all employees? How is information regarding the compliance program communicated to the Board? What processes are in place to monitor for violations to the compliance program? Specifically, are there processes in place to evaluate for violations of FCPA, Environmental, Health and Safety or regulatory type violations? What processes are in place for remediation of identified issues related to an element of the compliance program?

The above areas are not meant to be an all-inclusive list of considerations that anyone who is evaluating the effectiveness of governance should look at. However, it is a strong starting point for measuring not just the existence of governance elements within your company but the effectiveness of their execution. We must keep in mind that failures of corporate governance systems are rarely due to a policy or procedure not existing; it is more often due to non-compliance with one or more elements of the governance process.

New KSCPA Members! CPA Members Clinton Baker Kennedy and Coe, LLC Wichita, KS Jaclyn K. Deutsch Flint Hills Resources Wichita, KS Susan R. Hornbeck BKD, LLP Kansas City, MO Keith K. Knickerbocker The Louis Berger Group Kansas City, MO Jennifer H. Patel Gottlieb, Flekier & Co., P.A. Overland Park, KS Rebecca Shaw Berberich Trahan & Co., P.A. Topeka, KS Jacqueline C. Smith Edison Operating Company, LLC Wichita, KS

We Need You as a Key Contact! We need you to volunteer to contact legislators when the need arises. Please help us to continue to be an effective voice in legislation by volunteering to contact any of the legislators you know or would be willing to contact. Please send the names of the Kansas legislators or Congressional representatives to mary@kscpa.org.

Jonathan J. Twidwell Mutual of Omaha Financial Advisors Overland Park, KS Michael S. Young Carlisle Power Transmission Springfield, MO

Student Members Henry G. Haake Wichita State University Joseph Zulkey Washburn University

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Member News

Kathryn J. Mitchell, CPA Appointed to Kansas State Board of Accountancy

Skyscapes - Newsletter of the Kansas Society of CPAs Thank you to E. Kent Smoll, CPA/ PFS, CWS for your service to the Kansas State Board of Accountancy!

E. Kent Smoll, CPA Director at Large/Treasurer Committee Charge, Administration and Finance Committee

D

ecember 13, 2011, Topeka - Governor Sam Brownback announced today that Kathryn J. Mitchell (Kathy) was appointed to a 3-year term on the KSBOA. Kathy is the Operations Partner for Brungardt Hower Ward Elliott & Pfeifer, LC in Hays, KS. Kathy joined the KSCPA in 1982 and has a long-standing history of service to her community and the profession. Kathy served on the KSCPA board of directors, executive committee, and as chair of the KSCPA. Kathy currently serves on the Legislative Executive Committee and a member of the KSCPA PAC. In 2010 Kathy was named Experienced Leader “Woman to Watch” by the AICPA / KSCPA. Kathy is the co-founder and past-president of Western Kansas Council on Estate Planning and Giving and a member of the FHSU College of Business and Leadership Dean’s Executive Advisory Council. The Kansas Board of Accountancy is the regulatory body of the State of Kansas that is charged with the responsibility to carry out the laws and the regulations governing CPAs. The KSBOA is a member of the National Association of State Boards of Accountancy (NASBA). The Kansas Society of CPAs, the professional association for CPAs in Kansas, works closely with the KSBOA. The chair of the KSBOA is an ad hoc member of the KSCPA board of directors and assists the KSCPA leadership in identifying and communicating issues affecting the well-being of KSCPA members.

E. Kent Smoll (Kent) is the Managing Shareholder of Smoll & Banning, CPAs, LLC in Dodge City, KS. If anyone serves as a shining example of how CPAs give back, it is Kent Smoll. The KSCPA wants to thank Kent for more than 10 years of service to the Kansas Board of Accountancy (KSBOA). Kent joined the KSCPA in 1980 and served on several KSCPA committees and as a peer review team captain. Kent served on the KSBOA since 2001. He is also a Doge City Commissioner. Kent continues his service to the National Association of State Boards of Accountancy (NASBA). Kent is the Treasurer of the Association and a Director-at-Large. He is the 2012 Committee Charge of the Administration and Finance Committee. The KSBOA is a member of NASBA. For further information on NASBA, go to www.nasba.org.

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December 2011

Legislative Update

Great Expectations:

2012 Legislative Session

ARTICLE BY MARLEE CARPENTER

P

rior to each legislative session, we have great expectations of what the session may bring. Tax reform. STAR Bonds reauthorization. New school finance law. Unemployment Insurance tax reform. Medicaid reform. Immigration reform. And, of course, politics. It’s an election year, not only in Kansas but on the national level as well. Whether an issue comes to the forefront for debate and how legislators will vote on it will greatly depend on how it could impact an election. Additionally, this election year could prove costly to the Kansas Senate. As we saw in the Kansas House, conservative Republicans have increased their numbers after the 2010 election. Now, they are setting their sights on the Kansas Senate. It is anticipated that each moderate Republican in the Kansas Senate will have a conservative Republican opponent in the 2012 primary. These moderate Senate Republicans will be looking toward the primary elections during every vote and debate during the 2012 Session. In addition, legislators must pass a redistricting bill this session. Each district (legislative, Board of Education and Congressional districts) are drawn based on population figures and must represent the same number of Kansans. Many Kansans have migrated to the east and bigger towns, leaving western Kansas with less population. This trend has many implications. Some districts may lose their seat simply based on redistricting. A new redistricting map could also take advantage of party stronghold areas—a predominately Democrat county could end up in a different district that is mostly Republican, forcing Democrats to lose their stronghold (and votes) in that area.

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One of the biggest issues facing legislators this session will be taxes. Governor Brownback will be announcing during his State of the State Address in January his tax reform plan. This plan is expected to reduce both corporate and individual income taxes. Its goal is to increase private sector employment, increase capital flow, and make Kansas more attractive to out-of-state corporations and residents who would want to move here. Another proposal that will be debated is one by Senator Carolyn McGinn, Chair of the Senate Ways and Means Committee. She will pre-file a bill that will speed up the reduction in the state’s sales tax six months before its expiration of June 30, 2013. This sales tax increase (to 6.3%) was passed in 2010. Her proposal would reduce the sales tax revenue to the State General Fund by about $113 million in the upcoming fiscal year. Senator McGinn says this proposal is being made as the Kansas economy is rebounding and the budget situation is looking brighter. As part of this proposal, the .4 cent of the penny increase dedicated to the Kansas Department of Transportation would state in effect, leaving the state sales tax rate at 5.7%. This proposal is in contrast to the Governor’s income tax reduction proposal that is expected to use this sales tax revenue to further reduce income taxes. As the legislature debates these issues and others, no matter the politics, your voice needs to be heard in Topeka. Your input and participation in the process will be a key as we provide expertise and illustrate the case of how proposed tax changes will affect Kansas businesses and individuals. We look forward to working with you to help obtain the best possible results for businesses in Kansas.


Skyscapes - Newsletter of the Kansas Society of CPAs

Chapter News

Chapter News Metro Chapter Meeting

Northeast Chapter Meeting

Wichita Chapter Meeting

January 18, 2012

January 18, 2012

January 19, 2012

Registration: 11:00am Meeting: 11:30am - 1:00pm Overland Park Chamber of Commerce

Registration: 11:30am Meeting: 12:00pm - 1:00pm Topeka Country Club

Program presented by Todd Geiman and Teresa Commerford, National Bank of Kansas City.

Registration: 11:30am Meeting: 12:00pm - 1:30pm Petroleum Club Tax Update with Angela Antholz, Managing Director, Tax, Grant Thornton

UPCOMING CPA RECOGNITION DINNERS! Three KSCPA Chapters will honor new CPAs at upcoming “New CPA Recognition Dinners”. New CPAs and one guest will receive a complimentary dinner. Other guests and members are welcome to attend for $15. METRO CHAPTER:

January 10, 2012 5:45 - 7:30 p.m.

Ritz Charles 9000 West 137th Street Overland Park, KS 66221

Guest Speaker: Dan Crumb, CFO, Kansas City Chiefs

CLICK TO REGISTER

NORTHEAST CHAPTER:

January 12, 2012 5:45 - 7:30 p.m.

Washburn University Bradbury Thompson Center 17th & Jewell Ave. Topeka, KS

Guest Speaker: Ginger Powell, Managing Director, Berberich Trahan & Co., P.A.

CLICK TO REGISTER

WICHITA CHAPTER:

January 24, 2012 5:30 - 7:30 p.m.

Wichita Country Club 8501 E Thirteenth Street Wichita, KS

Guest Speaker: Jack Deboer, Entrepreneur, Author, and Philanthropist

CLICK TO REGISTER

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Kansas State University’s College of Business Administration offers high quality accounting programs with the training you need to succeed in the real world. From high school through grad school we are helping students create their path to a successful future.

Accounting Pilot and Bridge Project | Bachelor of Science in Accounting | Master of Accountancy

cba.k-state.edu 785-532-6184 109 Calvin Hall, Kansas State University, Manhattan, KS 66506

College of Business Administration


Skyscapes - Newsletter of the Kansas Society of CPAs

Executive Committee Meeting

KSCPA Board Meeting

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December 2011

Service to the Profession

KSCPA Annual Meeting The Annual Meeting of the Educational Foundation of the KSCPA and the KSCPA was held on November 16, 2011 at the Sheraton Overland Park. Highlights of the meeting: • Presentation of $5,000 to Dr. Dan Deines from the Foundation to support the Accounting Bridge Project. • Video of the events during 2010-2011 and of John Bruckner’s year as chair. John Bruckner shared remarks about his experience as chair. • Twenty-four life members were voted on and accepted by the membership. Each life member has 40 years of membership and numerous contributions to the success and advancement of the KSCPA and profession. • Recognition of outgoing board members. • Presentation by Dominic Ortiz on the AICPA Leadership Academy • AICPA Council Update by Kyle Hawk. Kyle also received the 2011 Lifetime Achievement Award for his numerous contributions to the KSCPA and the profession. • Resolutions of sympathy. This year, a slide show of those who passed away was shown with photos and a flag indicating service to our country. • Election of new board members, administration of oath to Robert Schuster, the 79th chair of the KSCPA. • Award to John Bruckner for his service as chair. • Final remarks by Robert Schuster.

BELOW New Life Member Keith Olson

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BELOW


Skyscapes - Newsletter of the Kansas Society of CPAs

W 79th Chair of the KSCPA, Bob Schuster

ABOVE Kyle Hawk receives Life-time Achievement Award from John Bruckner

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December 2011

ABOVE Speaker Greg Anton, Chair of the AICPA

BELOW Scholarship winners receive their awards

ABOVE New Life Member Gary Heyka

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Skyscapes - Newsletter of the Kansas Society of CPAs

Professional Issues Update with Greg Anton, Chair, AICPA The Professional Issues Update was eloquently presented by Greg Anton, CPA, chair of the AICPA. Greg discussed issues related to the record debt levels and the impact this may have on the future of social security and other government entitlements. He explored our relationship to the global market and discussed the professional reputation of CPAs which continues to stand strong in the market. Greg discussed several legislative issues including SOX section 404(b), White House Jobs Council, the mobile workforce legislation, and the Dodd-Frank act. PTIN issues were covered as well as other taxation issues, private company financial reporting with conclusions of the blue ribbon panel versus recommendations from FAF. Greg’s comments then moved to the future, including CPA Horizons 2025 project results, IFRS, the new Chartered Global Management Accountant credential, and resources provided by the AICPA, especially those available to members of Private Company Practice Section (PCPS). If you would like slides from this presentation, please contact mary@kscpa.org. Greg can be contacted at ganton@aicpa.org. ABOVE Dan Deines announces KSCPA Scholarship winners

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December 2011

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Service to the Profession


Skyscapes - Newsletter of the Kansas Society of CPAs

KSCPA Leadership Summit • • • • • • • • •

Seventy leaders of the KSCPA contributed their energy and ideas to update the action plans of the KSCPA “Big Rocks.” Detailed action plans will be outlined in the January issue of Skyscapes. The 2011-2012 “Big Rocks” are as follows: Leverage Technology to Communicate Member Value, Jim Boomer, Champion and Chad Allen, Co-champion Enhance Professional Development, Michelle Schneider, Champion and Keri Henning, Co-champion Advocacy, Gary Allerheiligen, Champion and Marlee Carpenter, Co-champion Membership Growth, Matt List, Champion and Russell Shipley, Co-champion Accounting & Assurance, Aron Dunn, Champion and Terrell Rohr, Co-champion Taxation, Gregg Goodwin/Cheryl Hayward, Champion and Krista Burdick, Co-champion Young Professionals, Trisha Cavanaugh, Champion and Mindi Ormiston, Grace Friedel, and Elizabeth Light Co-champions Student Insight, Norm Hope, Champion and Lauren Just, Co-champions

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December 2011

Leadership - Service to the Profession

ABOVE The “20 up to 40” graduates at the KSCPA Annual Meeting on November 16, 2011

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Skyscapes - Newsletter of the Kansas Society of CPAs

ABOVE The “20 up to 40” Participants take a tour of Indigo WIld company in downtown Kansas City

BELOW The “20 up to 40” Participants enjoy an evening of bowling at Incred-a-bowl.

“20 up to 40” Overland Park The “20 up to 40” 2011 program concluded in Overland Park, following 4 other events throughout the year and state of Kansas. The group project, which revolved around community service was completed and presented to the leadership. A $2,000 contribution was made to the Kansas Council on Economic Education following the presentation to support the program. The “20 up to 40” group utilized the resources of the Council to provide financial literacy education. The group toured the facilities of Indigo-Wild, a manufacturer of soaps, lotions, and other fragrant and organic products and enjoyed a social event at IncrediBowl in Olathe.

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December 2011

Conference News

61st Annual Kansas Tax Conference Over 150 individuals attended the Annual Kansas Tax Conference held at the Sheraton Overland Park. Participants were very satisfied with the speakers, food, and facilities. Average rating for the speakers was 4.14. Top speakers were Jeff Lanza, Chris Kuehl, Randy Johnston, Gary Allerheiligen, and Roger McEowen. The 62nd Annual Kansas Tax Conference will be held on November 15 and 16, 2012 at the Hyatt Wichita following the 80th Annual Meeting and Gala Dinner Dance on November 14. Mark your calendars for the 80th anniversary celebration and tax conference.

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Skyscapes - Newsletter of the Kansas Society of CPAs

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December 2011

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Conference News


Skyscapes - Newsletter of the Kansas Society of CPAs

K2’s Heartland Technology Conference K2 Enterprise again presented an invigorating 2-day technology conference at the Ritz Charles in Overland Park to 130 participants. Dr. Bob Spender, Dr. Will Fleenor, and Dr. Mac McLelland updated the participants on a variety of topics, including cloud computing, Outlook, Windows 7, Excel Macros, technology update, security update, paperless offices, Office 365, and QuickBooks. The 2012 conference will again be held in Overland Park on December 6-7. The conference received rave reviews, and we promise to make sure we have enough band width so all of those bringing laptops and tablets will have ample internet access.

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December 2011

Service to Government When the officials of our great state of Kansas need help with tax and financial strategies, where do they turn? To the members of The Kansas Society of CPAs. Many of our members have stepped up to the plate over the years to serve not only on the Kansas State Board of Accountancy (see article on Kathryn Mitchell and Kent Smoll), but also other board and commissions, and even the state legislature. All CPA members (Kent, Kathy, Paul Allen, Jeff Leiserowitz, and Ginger Powell) of the Board of Accountancy are members of the KSCPA, and Patricia O’Sullivan, a public member and accounting instructor at WSU, is an affiliate member. Lynn Jenkins, a KSCPA member, is currently serving in Congress. Representative Jenkins is in her second term, serves on the House Ways & Means Committee, and is a member of the newly-formed “CPA and Accountants Caucus.” There are ten individuals in this caucus – eight CPAs and two accountants – who are trying to change things in Washington. Lynn regularly visits the KSCPA office to meet with members to gain feedback from CPAs. Lynn visited the KSCPA and met with 25 leading taxation strategists in August. Steve Anderson, also a KSCPA member, is the Kansas Budget Director. Steve is a speaker at KSCPA conferences and participates in the KSCPA leadership. Gubernatorial appointments are an ongoing process, with appointments occurring throughout the year. The Governor is seeking qualified CPAs to serve on various boards and commissions. There are three types of boards and commissions; namely, advisory, policy, and supervisory. Applying for a Position – from the Governor’s website:

Click here to listen to Lynn Jenkins and Gary Allerheiligen talk about how this Townhall meeting was valuable to Congress and the KSCPA Leadership

“In our ongoing effort to make government more efficient, streamline procedures, and save taxpayer money on printing, paper and postage, an automated application process for Boards and Commissions. Boards that serve at the pleasure of the Governor This application system will allow you to submit your application for boards and commissions online. We would like for all Kansans to consider serving to fill these positions.

Click here to begin the online application process Note: Many boards and commissions have certain qualifications of appointment that must be met as set forth in Kansas Statutes. For further information, contact: Kim Borchers, Director of Appointments gov.appointments@ks.gov (785)368-7382”

34


COMMUNITY SERVICE OPPORTUNITIES You are invited to serve on an Audit Review Team! United Way of Greater Topeka is looking for a team of volunteers comprised of accounting and financial experts to review audits and financial statements to help with the funding process for our focus areas in Education, Income, Health and Basic Needs. By joining our Audit Review Team you will help community volunteers understand the findings in the audits and enable them to make sound and thorough funding decisions about programs that will Heartland County Technology Conference improve lives in KSCPA Shawnee and Jefferson County. for Accountants in Business & Industry and Public Practice THURSDAY | DECEMBER 15 | 2011

4 p.m. $460

NS

eriod)

15

a.m.

4

5 p.m.

7

a.m.

 11

5 p.m.

 14

tions ne, x. All must ment.

org

68

7:30 a.m. On Site Registration We anticipate an immediate need for 4 reviewers on November 9-18. We anticipate that each team 8 a.m. GENERAL SESSION | TECH UPDATE E X Pa Ashort N D review Knowledge 9:55 a.m.will MORNING BREAKOUTup SESSIONS member review to 10 audits, requiring about 4 hours. We provide sheet with  2. EXCEL MACROS | Easier Than You Think  3. that WINDOWS 7 TIPS will AND TRICKS 10 questions you complete as part of your review. INTEGRATE Technology  4. ACCOUNTING CHOICES We will deliver the audits to you, and then you may email the 11:30 a.m. Lunch 12:30 p.m. AFTERNOON BREAKOUT SESSIONS D E L I V E R Results! completed review sheets us.and Best Practices   5. EXCEL REPORTING | Tools,to Techniques 

6. SECURITY UPDATE FOR ACCOUNTANTS

7. PAPERLESS OFFICE 2.0

In 2012, weGENERAL willSESSION provide new funding opportunities to commu2:15 p.m. | CLOUD COMPUTING 4 p.m. End of Sessions for Thursday, November 3 nity organizations, which will require audit reviews throughFRIDAY | DECEMBER 16 | 2011 7:30 a.m. On Site Registration out the year. We invite you to join us for our November audit 8 a.m. GENERAL SESSION | CONSUMING CONTENT | on Tablets, Smartphones, and Netbooks 9:55 a.m. MORNING BREAKOUT SESSIONS reviews and/or join us to review audits in 2012. 

   9. EXCEL’S THREE TABLES

10. CREATING AND MANAGING FORMS WITH ADOBE

11. ONENOTE If you are interested in joining our Audit Review Team 11:30 a.m. Lunch please hereBREAKOUT to fillSESSIONS out a form on our website or email 12:30click p.m. AFTERNOON  12. OFFICE 365 tom.baumgartner@unitedwaytopeka.org  13. ORGANIZING YOUR LIFE | Tools and Techniques to Save You Time or call him at  14. QUICKBOOKS REPORTING WITH EXCEL 785.228.5113. 2:15 p.m. GENERAL SESSION | OUTLOOK | The Killer App in Office 2010 4 p.m.

End of Conference

UnitedAbout Way grateful for your expertise and willingness to this is Conference: Method: join our Audit Review Team!Instructional CPE credit ................................ 16 hours Group-live demo using color Course developer ................. K2 Enterprises

EX

PA N D

Knowledge

D E L I V E R Results!

Increase your effectiveness today – Prepare for tomorrow

r

November 2011

KSCPA Heartland Technology Conference for Accountants in Business & Industry and Public Practice

KSCPA Heartland Technology Conference for Accountants in Business & Industry and Public Practice Yesterday’s practices are no longer adequate for success in today’s rapidly evolving technology and business landscapes. • Do you have the knowledge you need to move forward in this dynamic environment? • Are you as effective as you can be in your organization or for your clients? • Can you remain competitive where you are today?

Designed for: Accountants who want to learn how to use technology more efficiently and effectively

This conference gives you the opportunity to participate in a series of sessions providing the knowledge and solutions that will enable you to:

16 CPE Credits

Netbooks

32

projection – not hands on

INTEGRATE Technology 100 SE 9th Street, Suite 502 Topeka, KS 66612-1213

ese ers have ver urses and e AICPA . These ently 5.0 uctor ation fastand ses color stems

Prerequisites........................... None Conference Level ................. All Advance preparation ......... None

Non-Profit Organization U.S. Postage PAID Topeka, KS Permit No. 241

e to PAs e 502

Increase your effectiveness today – Prepare for tomorrow

“Excellent summary

of technology issues

that apply to CPAs in

public practice, industry and government.” – A.H.

• Streamline Operations

• Minimize risk

• Reduce IT costs

• Enforce governance

• Improve responsiveness

• Increase visibility

• Make better decisions

Thursday | Friday

December 15 and December 16, 2011 Ritz Charles, 9000 W 137th Street

Overland Park, KS


Congratulations!

Skyscapes - Newsletter of the Kansas Society of CPAs

New KSCPA Life Members

35


December 2011

Understanding the

New Chartered Global Management Accountant Designation www.CGMA.org

A

new designation will soon be available to CPAs. The Chartered Global Management Accountant (CGMA) developed through a joint venture between the AICPA and the Chartered Institute of Management Accountants (CIMA) – two of the most respected accounting bodies in the world – will offer CPAs the opportunity to be further recognized for the critical role they play in companies of all sizes. Launching at the end of January 2012, the designation will demonstrate to employers how CGMAs add value by supporting and driving the right decisions in all areas of the organization to achieve sustainable success.

A New Era and Role for Management Accountants

In the past, management accounting was often focused on cost reductions and improving efficiencies. Today’s management accountants meet organizational needs by maintaining competencies and experience that goes well beyond financial accounting. The CGMA will indicate that designation holders are strategic business partners and emphasize that their understanding of the numbers – and their implications – has tremendous impact on the future of the organization. “Management accounting is broad, encompasses many disciplines and areas of expertise and builds on the CPA’s technical skills,” says Mary MacBain, President/CEO of the Kansas Society of CPAs. “The CGMA acknowledges this broad skillset and elevates the strategic role management accountants play within their organizations.” In addition to management accountants, the CGMA may appeal to CPAs working in other environments. For example, members in public accounting whose primary responsibilities are focused on the management and operations of a firm may consider pursuing this designation to highlight their unique qualifications to their clients and within their markets.

36

Strong AICPA-CIMA Alliance

In the U.S., the CGMA is available to AICPA members and provides significant benefits to joint AICPA state society members. CIMA, the AICPA’s partner in establishing the CGMA, is a London-based accounting organization, known around the world for supporting management accounting as an esteemed profession. CIMA’s thought leadership efforts in the area of management accounting include improved decision making, risk mitigation, talent and building world-class organizations. Representing more than 183,000 members and students in 168 countries, CIMA has a long history of developing a broad range of resources to help individuals pursue exceptional careers and distinguish themselves in the job market. The AICPA-CIMA joint venture will leverage the collective power of more than 550,000 members and students to further advance, promote and support management accounting as well as promote CGMA and the U.S. CPA. Together, the two organizations are creating a highly influencial alliance that will increase advocacy on behalf of the management accounting profession and in the public interest, and ensure a more powerful voice around the globe.

CGMA Presents Resources and Opportunity

CGMAs worldwide will have access to the CGMA.org website, which will house a robust set of resources, including thought leadership publications, a career guidance tool and a new online magazine that will help them continue to support the CGMAs’ passion to continuously sharpen their business competencies. Leveraging the collective knowledge of designation holders, and providing them a networking forum, the website will also be home to an exclusive global online community where CGMAs can network, share ideas, ask questions, comment on and share resources, and seek career and technical guidance.


Skyscapes - Newsletter of the Kansas Society of CPAs “We recognize that many of our members are interested in the global prospects the CGMA has to offer and are excited to be a partner in introducing the CGMA designation to the marketplace,” said Mary MacBain. “To support our CGMAs, help them broaden their skillset and build their professional network, the KSCPA will explore opportunities for shared CPE, local CGMA networking events and other possibilities.”

Designation to Launch January 2012

From January 31 through July 31, 2012, a CPA will be eligible to participate in a free introductory period for the CGMA designation by verifying the three-year requirement for qualifying experience and the requirement for being an AICPA voting member. To renew the CGMA beyond the introductory period, members will pay the annual fee of $150. CPAs who are members of both the AICPA and their state CPA society will receive a special $50 discount off the annual fee. It is anticipated that after January 1, 2015, there will be additional eligibility criteria for entry into the CGMA, similar to what has occurred with other designations and credentials offered by the AICPA.

To Learn More

For more information about the CGMA and what it means for the profession, we invite you to visit www.CGMA.org or contact Mary MacBain at Mary@kscpa.org.

Interested in a specialty credential from the AICPA? The CGMA will add a 5th credential available to members of the AICPA. The current credentials are: Certified Information Technology Professional (CITP) Certified in Financial Forensics (CFF) Accredited in Business Valuation (ABV) Personal Financial Specialist (PFS)

For more information on the credentials, or to find a local CPA with the credential, go to www.aicpa.org.

Service to the Community

You Always Get More Than You Give ARTICLE BY MIKE URBOM, CPA.CITP

I

’ve had great fun using my professional skills while serving as a volunteer for various non-profit organizations. In addition to my accounting experience, I’ve spent much time doing database programming. It has been very enjoyable to combine both skills to help meet some of the needs of non-profits. There’s the BBQ Contestant Entry database I built years ago and maintain for the American Royal Association. That leads on occasion to some good ribs and the chance to see some friendly faces from past events. I maintain the membership database for the Kansas City Ski Club which leads to appreciative thanks from Alice, and that’s enough. The Bloch Cancer Foundation needed a database to track calls to their hotline. Rosanne knew what she wanted and I was glad to figure out how to get it done. At first I did not know exactly how to get some tricky reporting worked out but then there was no hard deadline and no irritating timesheet; what fun to have that kind of freedom. I encourage you to get out there and have your own fun. Contact the organization of your choice, ask for the volunteer coordinator, and see what’s available. You will also want to get a feel for the strengths of the volunteer program. They should know their goals, their volunteer needs, and be clear about what tasks they need done. Well done to each of you who already volunteer. For those who might be interested, get out there and be one of those special people, a volunteer. The fun will follow.

37


December 2011

Terri Polley, President/CEO of FAF Holds Roundtables in Kansas

CBIZ in Leawood and Koch Industries in Wichita Host Roundtables BELOW Hal Hunt of CBIZ hosts the Leawood Roundtable

T

he Kansas Society of CPAs was one of 10 CPA state societies to accept an invitation from Terri Polley, President/ CEO of the Financial Accounting Foundation (FAF). The purpose of the roundtables was to learn more about the process undertaken which led to recommendations to improve private company financial reporting. The roundtables were held to help members and other leaders understand the recommendations of the Blue Ribbon Panel (FAF, AICPA, and NASBA) and the subsequent FAF proposal to improve financial reporting for private companies. Further, the roundtables provided members and other leaders the opportunity to provide input to the Financial Accounting Foundation on their proposal. Terri provided an introduction and overview of FAF’s proposal to establish a Private Company Standards Improvement Council (PCSIC) to study and make recommendations for modifications to GAAP for private companies. FAF’s proposal differs from the Blue Ribbon Panel (which recommended a separate board under FAF to establish the modifications) in that FAF wants FASB to continue to be the ultimate standard setter. The FAF trustees believe that there should be only one ultimate standard setter (and FAF would ratify the recommendations of the PCSIC). FAF trustees propose that a FASB member be the chair of the PCSIC. The participants at the roundtables expressed their views and asked several questions of Terri. Those who spoke addressed their support of separate standards and the Blue Ribbon Panel’s recommendation, and were open to listening to the FAF’s proposal and to offer suggestions where this proposal might be

modified. Terri was receptive to the comments and outlined some highlights of comments that will help FAF trustees revise the proposal. The transition to private company standards may take as long as three years to complete. Terri expressed the importance of our members and other leaders to provide comments on the FAF proposal prior to the end of the comment period (January 14, 2012). There have been numerous identical letters in support of the Blue Rib- “...roundtables helped my bon Panel’s recommenda- understanding of the FAF’s tion. Terri suggested that the letters that can really perspective by having the make a difference to the explanations face-to-face, trustees are those which which has an impact that are thoughtful and provide simply can’t be duplicated constructive comments on in a webinar.” how the proposal might be changed to better address - Chad Allen, CPA the issue of private company financial reporting standards. The KSCPA encourages members and firms to review the issue and provide comments individually and from their firms. The KSCPA assurance & accounting task force will also review the issue and prepare a comment letter on behalf of the Kansas Society of CPAs. If you have any comments that you would like the task force to address, please forward them to mary@kscpa.org.

ABOVE Kansas City Chiefs CFO Dan Crumb meets with Terri Polley of FAF

Click here to learn more about FAF’s Plan and related topics on the KSCPA website. 38


Skyscapes - Newsletter of the Kansas Society of CPAs New videocast series coming soon...

Fountain’s Governance Express TOPICS INCLUDE: • • • • • • • • • • • • • •

Corporate Ethics – 10 years post Sarbanes-Oxley The Building Blocks of Effective Corporate Governance (Part 1) Stabilizing the Building Blocks of Effective Corporate Governance (Part 2) The Corporate Director’s Fiduciary Role and Management’s Relationship Dissecting Stated Corporate Values Instilling the Proper Control Environments within Business The Corporate Manager’s Responsibility for Internal Control When the Whistle Blows at your Company Developing Practical Corporate Compliance Programs (Part 1) Monitoring and Managing Effective Corporate Compliance Programs (Part 2) The Governance, Risk and Compliance (GRC) Movement (Part 1) The Role of Enterprise Risk Management (ERM) as a Component of your GRC Program (Part 2) Fraud Awareness Programs (Part 1) Techniques for Fraud Monitoring and Detection (Part 2)

TOTAL CPE 28 HOURS

Contact Danielle@kscpa.org for further information. 39


December 2011

Professional Development

2012 Professional Development and Events LEARN MORE... To view complete course details, please visit the Professional Development area at www.kscpa.org. Date Range

CPE Hours

Speaker

Field of Study

1/19/12

"20 up to 40" Leadership Session - 1 (Day 1) Day at Statehouse & Leadership CPE

4

Marlee Carpenter et al.

Leadership

Topeka

1/19/12

AICPA's Annual Federal Tax Update

8

Gary Allerheiligen

Overland Park

1/19/12 1/20/12 5/7/12

4th Annual KSCPA Legislative Reception - FREE "20 up to 40" Leadership Session - 1 (Day 2) Visit KBOA Wealth Management Conference

N/A N/A 8

Marlee Carpenter et al.

Update N/A Leadership Consulting

5/7/12 5/8/12 5/9/12

Risk Management Conference Oil & Gas Taxation Workshop - Fundamentals - NEW Oil & Gas Taxation Workshop - Advanced - NEW

8 8 8

N/A Panel Panel John Tripp John Tripp

Consulting Taxation Taxation

Location

Topeka Topeka OP OP Manhattan Manhattan

Taxation Leadership PD Leadership N/A Update N/A N/A Technology

Manhattan

OP

Mark Dick

Technology Technology Govt/NPO/AA A&A A&A Taxation Taxation Taxation Taxation A&A Taxation Taxation A&A Fraud B&I A&A

8

Lynn Fountain

A&A Fraud

OP

4

Eric Larson

Taxation

OP

4 8

Bruce Hopkins

Taxation A&A Fraud

OP

Lynn Fountain

4

Eric Larson

Taxation

Wichita

4 8 8

Bruce Hopkins

Mayetta

TBD

Taxation Taxation Taxation

Nonprofit Accounting and Auditing Update

8

Alan Anderson

A&A

OP

6/27/12 6/27/12 6/27/12 6/28/12

Audit Sampling: Applying the New Audit Sampling Guidelines Excel PivotTables for Accountants- Part I Outlook Essentials Excel Tips, Tricks and Techniques for Accountants

8 4 4 8

Alan Anderson

A&A Technology Technology Technology

6/28/12 6/28/12 6/29/12

Mergers, Acquisitions, and Sales of Closely Held Businesses: Advanced Case Analysis Audit Excellence Mergers, Acquisitions, and Sales of Closely Held Businesses: Advanced Case Analysis

8 8 8

Gary Allerheiligen

6/29/12

Audit Excellence

8

7/26/12 7/27/12

"20 up to 40" Leadership Session - 3 (Day 1) Project / Dr. Gerald Graham / Dinner "20 up to 40" Leadership Session - 3 (Day 2) Dr. Gerald Graham

4 8

9/21/12

Women's Leadership Conference

4

Agriculture Taxation Workshop - NEW "20 up to 40" Leadership Session - 2 (Day 1) Project & Young Professionals Conference Young Professionals Conference "20 up to 40" Leadership Session - 2 (Day 2) Prof Issues Update / Leadership Meetings Leadership Summit - Executive Committee Meeting Professional Issues Update with Ernie Almonte, Past AICPA Chair - FREE

8 6 4 2 N/A 2

Roger McEowen

5/23/12 5/23/12 6/4/12

Leadership Summit (includes lunch) - Task Force Meetings Leadership Summit - Board of Director's Meeting Cloud Security and Compliance

N/A N/A 4

N/A

6/4/12 6/5/12 6/5-6/12 6/7/12 6/8/12 6/11/12 6/11/12 6/12/12 6/12/12 6/18/12 6/18/12 6/19/12 6/19/12 6/20/12 6/20/12

Outlook Essentials Excel Tips, Tricks and Techniques for Accountants Governmental & Non-Profit Accounting & Auditing Conference Nonprofit Accounting and Auditing Update Audit Sampling: Applying the New Audit Sampling Guidelines Creative Tax Strategies for Individuals- Hurdles & Benefits Negotiating & Structuring Business Deals Creative Tax Strategies for Individuals- Hurdles & Benefits Negotiating & Structuring Business Deals Governmental Accounting and Auditing Update Closely Held Business Taxation: Smart Strategies to Slash Taxes Closely Held Business Taxation: Smart Strategies to Slash Taxes Auditing Real-World Frauds: A Practical Case Application Approach Business and Industry Expo Governmental Accounting and Auditing Update

4 8 16 8 8 4 4 4 4 8 8 8 8 8 8

6/21/12

6/22/12 6/25/12 6/26/12

The Top Ten Fraud Schemes: How to Detect and Prevent Them Estate Planning Strategies: Minimizing Taxes and Maximizing Wealth (Includes Serving as a Trustee) The Law of Tax Exempt Organizations Accounting Services, Compilations and Reviews: Effective Risk Management Estate Planning Strategies: Minimizing Taxes and Maximizing Wealth (Includes Serving as a Trustee) The Law of Tax Exempt Organizations Conference on Kansas Taxes AICPA's Hottest Tax Topics for 2012

6/26/12

5/10/12 5/22/12 5/22-23/12 5/23/12 5/23/12 5/23/12

6/21/12 6/21/12 6/22/12 6/22/12

40

Description

Ernie Almonte Ernie Almonte Ernie Almonte Bob Schuster Ernie Almonte Bob Schuster K2 Enterprises K2 Enterprises K2 Enterprises Panel Alan Anderson Alan Anderson Dennis Gerschick Dennis Gerschick Dennis Gerschick Dennis Gerschick Mark Dick Gary Allerheiligen Gary Allerheiligen Lynn Fountain Panel

Panel

K2 Enterprises K2 Enterprises K2 Enterprises

Lawrence Lawrence Lawrence Lawrence Lawrence Lawrence Lawrence OP OP Wichita Wichita Wichita OP OP Wichita Wichita Wichita OP Wichita Wichita Wichita OP

OP

Wichita OP OP Wichita Wichita Wichita

Taxation A&A Taxation

Wichita

Alan Anderson

A&A

Wichita

Dr. G. Graham

Salina

Dr. G. Graham

Leadership Leadership

Jennifer Wilson

Leadership

OP

Alan Anderson Gary Allerheiligen

OP OP

Salina


6/21/12

4

Eric Larson

Taxation

OP

4 8

Bruce Hopkins

Taxation A&A Fraud

OP

Lynn Fountain

4

Eric Larson

Taxation

Wichita

4 8 8

Bruce Hopkins

Mayetta OP

6/22/12 6/25/12 6/26/12

Trustee) The Law of Tax Exempt Organizations Accounting Services, Compilations and Reviews: Effective Risk Management Estate Planning Strategies: Minimizing Taxes and Maximizing Wealth (Includes Serving as a Trustee) The Law of Tax Exempt Organizations Conference on Kansas Taxes AICPA's Hottest Tax Topics for 2012

TBD

Taxation Taxation Taxation

6/26/12

Nonprofit Accounting and Auditing Update

8

Alan Anderson

A&A

6/27/12 6/27/12 6/27/12

Audit Sampling: Applying the New Audit Sampling Guidelines Excel PivotTables for Accountants- Part I Outlook Essentials

8 4 4

Alan Anderson

Technology Technology

Wichita

K2 Enterprises

6/28/12

Excel Tips, Tricks and Techniques for Accountants

8

K2 Enterprises

Technology

Wichita

Gary Allerheiligen

Mergers, Acquisitions, and Sales of Closely Held Businesses: Advanced Case Analysis Audit Excellence

Alan Anderson

Taxation A&A Taxation A&A

OP

6/29/12 6/29/12

8 8 8 8

7/26/12

"20 up to 40" Leadership Session - 3 (Day 1) Project / Dr. Gerald Graham / Dinner

4

Dr. G. Graham

Leadership

Salina

7/27/12 9/21/12 9/21/12

"20 up to 40" Leadership Session - 3 (Day 2) Dr. Gerald Graham Women's Leadership Conference Women to Watch Awards Luncheon - FREE

8 4 N/A

Dr. G. Graham

Salina

Tommye Barie

Leadership Leadership Leadership

9/27/12

"20 up to 40" Leadership Session - 4 Project / Jeff Lanza Fraud Event / Dinner with Board

4

Jeff Lanza

Leadership/ Ethics

KCK

9/27/12

KSCPA Board Team Building & Dinner with "20 up to 40"

N/A

Bob Schuster

N/A

KCK

9/28/12

"20 up to 40" Leadership Session - 4 TimberRidge Team Building

6/21/12 6/22/12 6/22/12

Skyscapes - Newsletter of the Kansas Society of CPAs

To register for courses or conferences, visit our 6/28/12 Mergers, Acquisitions, and Sales of Closely Held Businesses: Advanced Case Analysis website www.kscpa.org or call 785.272.4366. 6/28/12 at Audit Excellence

Date Range 9/28/12 10/19/12 11/1/12 11/2/12

Description KSCPA Strategic Planning Business Valuation Conference Excel Based Dashboards Technology for CPAs- Don't Get Left Behind "20 up to 40" Graduation Session - 5 Project / Tour / Dinner / Prof Issues Update / Leadership /13/2012-11/14/20 Meetings/ Graduation 11/14/12 Annual Meeting - Executive Committee Meeting 11/14/12 Professional Issues Update with Rich Caturano, AICPA Chair - FREE 11/14/12 Annual Meeting of KSCPA and Educational Foundation 11/14/12 Leadership Summit (includes lunch) - Task Force Meetings 11/14/12 Leadership Summit - Board of Director's Meeting 11/14/12 80th Anniversary Gala Dinner & Dance 11/15-16/12 62nd Annual Kansas Tax Conference 11/26/12 International versus U.S. Accounting: What in the World is the Difference?

11/27/12

Panel

CONFERENCES

OP

Wichita OP

LEADERSHIPA&A EVENTS OP

K2 Enterprises

COURSES

Alan Anderson Gary Allerheiligen

Jennifer Wilson

Wichita

OP Wichita Wichita

OP OP

8

Panel

Leadership

Olathe

CPEN/A Hours

Speaker Tom Hood

FieldN/A of Study

Location OP

8 8 8

Panel K2 Enterprises

BV & Consult. Technology Technology

OP

K2 Enterprises

4

Rich Caturano

Leadership

Wichita

N/A 2 N/A

Bob Schuster

N/A

N/A

N/A Update N/A N/A

Wichita

Rich Caturano

N/A N/A 16 8

M. Aron Dunn

N/A

Wichita

Lonnie McFadden Band

Wichita

Alan Anderson

N/A Taxation A&A

8

Alan Anderson

A&A

OP

8

Alan Anderson

A&A

OP

8

Alan Anderson

A&A

Wichita

A&A

Wichita

Taxation Technology Taxation A&A

Wichita

Taxation Taxation A&A A&A

OP

Bob Schuster

Panel

OP OP

Wichita Wichita Wichita

Wichita OP

8

Alan Anderson

12/6/12 12/6-7/12 12/7/12 12/10/12

Not-for-Profit Accounting & Reporting: From Start to Finish The 2011 Revised Yellow Book: Government Auditing Standards (with GAO Exposure Draft Info) Not-for-Profit Accounting & Reporting: From Start to Finish The 2011 Revised Yellow Book: Government Auditing Standards (with GAO Exposure Draft Info) 2012 Tax Advisor's Update (Biebl & Ranweiller) Heartland Technology Conference 2012 Tax Advisor's Update (Biebl & Ranweiller) Common Frauds and Internal Controls for Revenue, Purchasing and Cash Receipts

8 16 8 8

Tim O'Shaughnessy

12/10/12 12/13/12 12/17/12 12/18/12

AICPA's Annual Federal Tax Update Family Wealth Management Identifying Fraudulent Financial Transactions Applying the Risk Assessment Standards Using a Case Study Approach

8 8 8 8

TBD

12/19/12 12/20/12 12/27/12 12/27/12

Delving into the Top Twelve Issues for Partnerships, LLCs and S Corps Delving into the Top Twelve Issues for Partnerships, LLCs and S Corps Annual Update for Accountants and Auditors S Corporation Key Issues, Compliance and Strategies: An IRS Target Area

8 8 8 8

Gary Allerheiligen

Gary Allerheiligen

Taxation Taxation A&A Taxation

12/28/12

Annual Update for Accountants and Auditors

8

TBD

A&A

OP

12/28/12

S Corporation Key Issues, Compliance and Strategies: An IRS Target Area

8

Gary Allerheiligen

Taxation

Wichita

11/28/12 11/29/12 11/30/12

K2 Enterprises Tim O'Shaughnessy Lynn Fountain Dennis Gerschick Lynn Fountain Lynn Fountain Gary Allerheiligen TBD

OP OP OP OP Wichita Wichita Wichita OP Wichita OP

NEED HELP finding a course or conference? Call the KSCPA at 785.272.4366.

41


December 2011

Offer S Corporation and Officer-Only Clients a Smart Payroll and Retirement Solution The complexity of S corporation tax accounting demands special consideration and care in payroll planning and payroll tax preparation. With year-end just around the corner, take advantage of a cost-effective, convenient service from Paychex to put your S corporation clients on a tax budget and avoid unnecessary – and potentially costly – hassles. Officer-Only Payroll Solution – Just $45 Per Month! •

Valid for entities with either 1 or 2 paid officer employees, when referred by their accountant.

At this special rate, the client must process payroll monthly; however, additional frequencies and pricing are available.

Includes all automatic payroll tax payments to streamline cash flow as well as quarterly and annual returns. Form W-2 charges may still apply.

Offers flexible payment options, such as traditional paper checks or direct deposit, and accurate, timely payroll tax recordkeeping, payment, and filing that may help reduce the risks of non-compliance.

Officer-Only Payroll Included with an Integrated 401(k) – Starting at Only $65* Per Month! Paychex also offers an affordable 401(k) recordkeeping option for your S corporation clients who: •

Have no employees (certain immediate family members, if employed by the business, are considered owners), and

Want the ability to maximize salary deferral contributions without the requirement to satisfy certain compliance testing.

At this special rate, no officer-only entity should be “guesstimating” wages or coming to you for year-end payroll help. Which clients need to report 2011 wages for a W-2? Act now!

Help your S corporation clients by year-end. Offer them a Paychex payroll and retirement administration solution! For more information, please contact: ●

913) 814-7776 ext 40612 ●

* The $20 monthly 401(k) portion is billed annually at $240 ($20 x 12). Additional fees may apply. Set-up fees apply. Publication date: September 2011. The material contained above is current only as of the date of publication. These materials are for informational purposes only. They are not legal advice and should not be relied on as such. You should contact your attorney to obtain advice with respect to any particular issue or problem.

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Skyscapes - Newsletter of the Kansas Society of CPAs

THE

KSCPA IS CONNECTED! Follow @KSCPANews Follow the Kansas Society on Twitter! Find out information on upcoming events, who’s been visiting the KSCPA Office, and what our team is doing to help you. If you don’t have a Twitter account, then set one up today! It’s FREE!

www.facebook.com/KansasCPAs Add the Kansas Society to Facebook! View photos of recent events, and stay informed about upcoming conferences and courses. Facebook accounts are also free, so join today and get connected!

Search: Kansas Society of CPAs The Kansas Society is also on Linkedin! Follow the KSCPA for great networking opportunities with other accounting professionals. Use Linkedin to build up your own personal profile, join networking groups, and even search for job openings in accounting.

Have you activated your FIND-A-CPA benefit? Simply go to “Member Home” and activate your account under “CPA Profile.” Preferred Accounts are also available for a $50 annual fee. Preferred Accounts include your a link to your website, organizational or professional photo, hyperlinks to your e-mail, and preferred listing in search engines. Click here to enroll

43


December 2011

Classified Advertising

Adams, Brown, Beran and Ball, Chartered

BMS Group

Chief Information Officer

CFO

Adams, Brown, Beran & Ball, Chtd, a regional CPA firm, is seeking an individual for the position of Chief Information Officer. This position is responsible for: • Directing the design, development and maintenance of systems, programs, and systems hardware to meet the needs of a public accounting firm • Participating in strategic and operational governance processes of the business organization. • Identifying and overseeing implementation of Information Technology applications to support the firms’ processes and operations. • Leading, planning, and directing staffing, to include the development of staff for the efficient and effective operation of the IT Department • Developing, tracking, and controlling the information technology annual operating and capital budgets

The BMS Group of companies, located in Elwood, KS is seeking an experienced chief financial officer to join their growing group of companies. This person is responsible for the supervision of all financial activities and processes including accounting practices and procedures, financial reporting, and cash flow management. A successful candidate should have a Bachelor’s Degree in accounting or finance with over five years related experience. The candidate should also possess strong financial analysis skills, concise written and verbal communication skills, and the ability to proactively solve business issues and challenges. The candidate must also be proficient with Microsoft Word, Outlook, and Excel. Also, knowledge of Great Plains Accounting software is preferred. A CPA certificate is preferred, but not required. BMS offers a competitive salary and benefit package based upon the candidate’s credentials. EOE

Required Education and Experience: • Four year degree in Information Technology, Accounting, or related area • Demonstrated experience in leading and managing IT processes, staffing, and budget at an upper management level • Demonstrated knowledge/background in accounting practices and processes • 3 years’ experience in implementing, operating, and maintaining IT systems in a public accounting firm preferred • Will consider candidate with solid, demonstrated leadership and management skills, IT background, and willingness to learn and develop accounting processes/practices to a knowledgeable working level To apply: send cover letter and resume to: Adams, Brown, Beran & Ball, Human Resources Director, P. O. Drawer J, Great Bend, KS 67530; or online at www.abbb.com EOE

Kirkpatrick, Sprecker & Company, LLP Staff Accountant

Wichita CPA firm is seeking a staff accountant with one to three years of audit and tax experience working with a CPA firm. The applicant must have good written and verbal communication skills, CPA Certification or eligible to sit for CPA exam and Bachelor’s Degree in Accounting or related field. Experience with QuickBooks and Microsoft a plus.

44

ExecuPros, Inc.

CPA- Business Development Looking for a CPA with strong Communication Skills - Kansas City, MO Kansas City based company located on the Country Club Plaza seeks CPA professional. Individual must be a proven communicator and have a track record of developing and servicing client relationships. This is an established company that is growing rapidly in a market segment that places them as the industry leader. A professional company made up of highly educated and motivated personnel. Experience: 5 years minimum in client development. Education: CPA. MBA is a plus. The company sells complex compliance products to banks and retailers who issue gift cards. The company seeks a professional who can communicate company products to the legal and compliance departments of prospect companies and develop new client relationships. Prepaid or gift card experience is a plus, but primary requirements include excellent communication skills, ability to understand company products and desire to develop new clients. Prospects are generally large and medium size Issuers. Travel expectations will be between 20-30%. Compensation is highly competitive with an excellent benefits plan. Reply to dkreher@execupros.com, or call David Kreher at 816994-6002


Skyscapes - Newsletter of the Kansas Society of CPAs FHLBank Topeka

Accounting Policy & Research Specialist FHLBank Topeka’s products and services help our member banks provide affordable credit and support housing and community development efforts. We are accepting resumes for the position listed below. Position located in Topeka, Kansas. Accounting Policy & Research Specialist This position will assist with the development, implementation and administration of accounting policies and will coordinate the implementation of new accounting and reporting requirements with accounting personnel and functional departments. Assist the CAO and staff with evaluating and researching specific transactions for compliance with authoritative accounting literature. Track new and pending accounting pronouncements and an assessment of their impact on the Bank in compliance with GAAP, SEC and regulatory rules. Coordinate the initial assessment of unique/significant transactions for compliance with the Bank’s accounting policies, GAAP, SEC and regulatory rules. Qualifications • Bachelor’s degree in accounting and CPA certificate or advanced degree required. • 5+ years accounting experience preferably within the financial services industry or public accounting. • Working knowledge of internal controls, SOx requirements and generally accepted accounting principles and theories. • Ability to research complex accounting, auditing and internal control literature. • Experience with SEC and other financial reporting for a financial institution preferred. • Knowledge and proficient use of MS Office products, including Word, Access and Excel, accounting and other financial software applications. In addition to a rewarding, team-oriented work environment, FHLBank Topeka offers opportunities for growth and development, an attractive benefit package including health and dental insurance, 401(k), short-term incentive plan and much more. To see a more detailed job summary and apply for this position, go to the Bank website at www.fhlbtopeka.com. EOE

Kansas Ethanol Controller

Kansas Ethanol, a successful, sound ethanol production plant located near Lyons, KS, is seeking an experienced Controller. This position is responsible for all financial activities and processes including accounting practices/procedures, financial reporting and cash flow projections, forecasts, hire/manage/ develop accounting staff, and manages the preparation, review, and approval of the budget process. Requires a Bachelor’s Degree in Accounting or Finance, 6-10 years related experience, or equivalent combination of education and experience. Candidates must have strong analysis skills, good written and verbal communication skills, and the ability to proactively deal with and solve business issues/challenges. Must also be proficient with Microsoft Word, Outlook, and Excel. Knowledge of Great Plains Accounting software is preferred. CPA preferred but not required. Competitive salary and benefits package. EOE Please send resume and salary requirements to: Rob Southern Kennedy and Coe, LLC rsouther@kcoe.com

Cohlmia Marketing Part-Time Bookkeeper

Small Wichita marketing firm seeks a part-time bookkeeper to manage accounts receivable/accounts payable, manage online timetracker submissions and create monthly invoices for consultation and production-related services. Responsibilities also include processing of sales and tax reports, payroll posting, financial reporting, year-end 1099 preparation and interface with outside CPA. Quickbooks experience required. Microsoft Word and Excel required. CPA certification not required but desirable. Minimum 10 years’ experience required in bookkeeping/accounting positions. Contact Info: Carol Skaff cskaff@cohlmiamarketing.com 316-262-6066

Marketing Resources for KSCPA Members Check the “Member Resources” for Marketing Resources. Watch for the new KSCPA Marketing Toolkit - Coming soon!

45


Mark Your Calendar! Events

Conferences

New CPA Recognition Dinners

4th Annual Legislative Reception January 19, 2012 - KSCPA Office

1st 2012 “20 up to 40” Program January 19-20, 2012 - Topeka

2nd 2012 “20 up to 40” Program May 22-23, 2012 - Lawrence

Issues Update & Leadership Summit with Ernie Almonte

May 23, 2012 - Lawrence

3rd 2012 “20 up to 40” Leadership Training July 26-27 , 2012 - Salina

Women to Watch Awards Luncheon September 21 , 2012 - Overland Park

KSCPA Strategic Planning Retreat September 27-28 , 2012 - Overland Park

4th 2012 “20 up to 40” Team Building September 27-28 , 2012 - Kansas City

Issues Update/Annual Meeting/ Leadership Summit

November 14 , 2012 - Hyatt Wichita

KSCPA 80th Anniversary Gala Starring Lonnie McFadden

November 14 , 2012 - Hyatt Wichita

May 7, 2012 - Overland Park

Designed for the profession, by the profession.

Jan.10th - Overland Park / Jan. 12th - Topeka Jan. 24th - Wichita

Wealth/Risk Management Conferences

Oil & Gas Workshop with John Tripp

May 8-9, 2012 - Manhattan

Agricultural Workshop with Roger McEowen

May 10, 2012 - Manhattan

Young Professionals Conference with Ernie Almonte

May 22, 2012 - Lawrence

Governmental & Non Profit

Accounting & Auditing Conference June 5-6, 2012 - Hyatt Wichita

Business & Industry EXPO June 20, 2012 - Wichita

Conference on Kansas Taxes June 25 , 2012 - Prairie Band Resort & Conf. Cntr.

Women’s Leadership Conference September 21 , 2012 - Overland Park

Business Valuation Conference October 19 , 2012 - Overland Park

62nd Annual Kansas Tax Conference November 15-16, 2012 - Hyatt Wichita

K2 Heartland Technology Conference December 6-7, 2012 - Overland Park SM

www.kscpa.org

KSCPA Skyscapes 2011- Sample  

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