The WashingtonCPA January/February 2013

washington

CPA January/February 2013

Volume 55, Number 4

Human Capital Reporting & Management

The Missing Link Between Human Capital and Financial Results Choices, Choices ... What’s a SME to Do? Life’s Lessons from the CPA Perspective

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WashingtonCPA January/February 2013

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CONTENTS

wa s h i n g t o n

CPA www.wscpa.org • memberservices@wscpa.org Tel (425) 644-4800 • Toll free in WA (800) 272-8273 Fax (425) 562-8853 902 140th Ave NE Bellevue, WA 98005-3480

BOARD OF DIRECTORS Mary D. Marino Chair Glenn G. Wisegarver Vice Chair Lucy L. Liu Treasurer William A. Simer Secretary Mark A. Hugh Immediate Past Chair Richard E. Jones President & CEO

Peter E. Doubleday Peter R. E. Miller

Joyce G. Etheridge David J. Miniken

Dean A. Granholm Nerelys M. Ortiz

Robert L. Grannum Sharon K. Philpott

Waylon P. Jones Andrew L. Read

Marinilka B. Kimbro Rosemary Sanchez

Karissa A. Marker David E. Trujillo

CHAPTER BOARD CHAIRS

Richard C. Meyer, Jr. Bellevue Area

Joseph W. Crowther Central

Joseph M. Reid Central

— North Seattle

Jack W. Curnow Northwest

Kathryn A. Dixon Olympia

— Peninsula

— Pierce County

Mary H. Hawkins Sammamish Valley

Jeffrey A. May Seattle

Rachel T. Sites Snohomish County

Michael K. Briggs South King County

John Vogel South Sound Industry

Matthew E. Lee Southwest

Lucas M. Zarecor Spokane

— Wenatchee

Kyle S. Meissner Yakima

Jeanette Kebede

Editor

The WashingtonCPA is published by the Washington Society of Certified Public Accountants for its members.

Views and opinions appearing in this publication are not necessarily endorsed by the WSCPA. The products and services advertised in The Washington CPA have not been reviewed or endorsed by the Washington Society of Certified Public Accountants, its board of directors or staff.

The WashingtonCPA (USPS 009754) is published six times annually by the Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue, WA 98005-3480. $12 of members’ annual dues goes toward a subscription to The WashingtonCPA. Periodicals postage paid at Bellevue, Washington and additional mailing offices.

Human Capital Reporting & Management 10 Reporting on Human Capital: Why, What & How 13 Human Capital Financial Statements: The Missing Link Between Human Capital and Financial Results 18 Human Capital Management: A Key Driver for Growth 5

Life’s Lessons from the CPA Perspective

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Choices, Choices ... What’s a SME to Do?

20 Advocacy in Accounting 21 Important Notice from the Washington State Board of Accountancy 22 Tech Tip: Pivot Tables, Percentages, and Cumulative Percentages 24 Taxpayer Identity Crisis Departments

Cover photo: ©Getty Images/OJO Images

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Leadership lens

Life’s Lessons from the CPA Perspective

By Mary Dowling Marino, CPA, CGMA,WSCPA Chair for 2012-13

M

ost CPAs would agree that the work required to get licensed was one of the most challenging of their professional careers. The commitment to graduate from college, pass the exam and obtain any necessary experience requirements is a significant one, usually taking many years and a focused effort. The technical bar for CPAs is set high and getting over it is no small feat. I would suggest, however, that there are a number of other non-technical skills that are essential to career success and for which very little formal education or testing is available.

As I observe the 30 year anniversary of earning my certificate, I would like to reflect on the importance to me of some of these items, the ones I call “things I wished I’d learned sooner.”

Communication

Everyone thinks they communicate well. We talk, someone listens, they talk back. Ideally, all human interaction should effectively state our intentions in a way that can be understood by the intended receiver of the message. We all know from experience that is not the case. In our personal lives, the failure to communicate can cause problems ranging from comical to crucial. In our professional lives, the lack of appropriate communication skills can be career-limiting at best.

As technology has changed the way the world does business, it also has had an impact on the means by which individuals communicate. Traditionally, most important business conversations were held verbally, either face to face or by phone, so as to minimize any possible misinterpretations that might exist in written communication. In today’s world, oftentimes entire relationships are carried on virtually using text and e-mail.

While in some cases, the use of the written word forces us to use more exact language, it can also open the door for www.wscpa.org

“As I observe the 30 year anniversary of earning my certificate, I would like to reflect on the importance to me of some of these items, the ones I call ‘things I wished I’d learned sooner.’”

missed opportunities in interpreting tone and intent.While texting and e-mailing are good vehicles for conveying factual information, my own experience suggests that the most powerful opportunity for clear communication requires face-to-face interaction with unambiguous language and a mutually understood outcome to the conversation.

Transitioning from the classroom to the world of work is harder than you think. For most new CPAs the most important questions are the ones that don’t get asked. The fear of “asking stupid questions” when surrounded by an experienced team on a job is fairly common.

As a result, work time is multiplied and misunderstanding occurs as we struggle to get things done by figuring them out on our own, rather than communicating properly when first presented with a professional challenge. In this area, I typically suggest a standard set of questions for younger professionals (and even some older ones that may be trying something new). When presented with an assignment, ask “How long should this take me to do?” “Whom should I ask for help?” and “When do you need this information?”

Mentoring

Mentoring is one of those soft skills that accountants are considered to be inherently bad at but probably all need to be aware of. We can handle the intellectual challenge of staying current with tax law changes and new accounting

pronouncements, but entering into a less clearly defined professional relationship requires a different approach. Finding someone to be your mentor requires an awareness of your need for guidance outside the traditional performance evaluation process and an appreciation for the insight you may gain from being mentored. Or, you may discover that you enjoy the process of serving as a mentor for someone else, particularly if you have been fortunate enough to have benefited from having had a great mentoring relationship in your own career. For some individuals, formally establishing a mentoring relationship may be the most appropriate and there may already be a process in place where you work to do so. Many others, myself included, simply evolve into the role of mentor or mentee by virtue of professional simpatico or a need to pass on some of life’s harder lessons to someone who is struggling with them. Many fine books have been written on the subject and if you wish to pursue this role, I would recommend that you find and read one that looks interesting to you. Remember, your ideal mentor may not even work in your office or in your firm, but you will probably recognize their potential mentoring value to you and others as you get to know them.

Networking

For some individuals, the idea of building a network of contacts by finding events and places to meet new people does not shake their confidence.

Those people are in the minority. When I WashingtonCPA January/February 2013

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Leadership lens

suggest to younger professionals that networking skills are an important step in their career building plan, they assume that I am referring solely to the use of a network for its purposes in business development. Most of them assure me that their work should speak for itself and there shouldn’t be any need to “sell themselves” to anyone. I also hear that “I didn’t become a CPA so I could sell.”

My experience tells me that if our job involves interaction with other life forms, we are selling and selling is easier when we are known. At work we are selling our ideas, our ability to execute our jobs and our suitability for promotion every day. If we are promoting our firm to clients, working on an important project team inside industry, or working in education, the ability to find connections, i.e., networking, always makes the process for acceptance and recognition easier. And when it comes to finding another job, the results of knowing the right people

“Some of our professional colleagues are well known because of what they have achieved. For the rest of us, we must continue to invest the effort to create overlapping connections that expand with time.”

becomes immeasurable. While technical expertise is expected, clients and potential employers tend to hire or take the recommendation of someone they know.

If you are looking for a safe place to start building your network, I strongly recommend checking out the WSCPA Chapter activities in your area. Many chapters are hosting networking events during the year, and the people you meet there will cross your path over and over again as you continue on in your career. Some of our professional colleagues are well known because of what they have achieved.

For the rest of us, we must continue to

invest the effort to create overlapping connections that expand with time.

Narrowing down this list was difficult as I have learned, and re-learned, many lessons as a CPA throughout the years.

CPAs are a surprisingly diverse group and I appreciate that we have many different approaches to working in the profession. I would enjoy hearing from you about what you might add to this list.

Take the opportunity to do so by starting a conversation on the WSCPA LinkedIn group or by contacting me directly at Mary.Marino@cliftonlarsonallen.com.

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Leadership lens

Choices, Choices ... What’s a SME to Do?

By Rich Jones, CPA, CGMA, President & CEO

T

he accounting profession has been trying for over 30 years to find a financial reporting framework that meets the needs of privately owned enterprises. Most of these companies currently report on U.S. GAAP which has long been criticized as being way too complex for most private companies and resulting in financial statements that are too complicated for the users of those statements to fully understand. The users of financial statements for most private companies are generally bankers, owners and management. If a user of the financial statements has a question about something in the financial statements, he or she generally calls the company and

of AICPA, NASBA (National Association of State Boards of Accountancy), and FAF (Financial Accounting Foundation). Rick Anderson, CPA, CEO of Moss Adams, was appointed chair of this panel. The panel reported its recommendations (to FAF) in January 2011. They recommended a “U.S. GAAP model with exceptions and modifications for private companies, with process enhancements. A supermajority of BRP members further recommended that a separate private company standard-setting board under FAF be established to ensure that those enhancements are made and result in appropriate and sufficient exceptions and modifications for private companies.”

“Significantly, the framework is built upon a foundation of reliable and comprehensive accounting principles, employs familiar and traditional accounting methods, utilizes historical cost as the primary measurement criteria, reduces required disclosures, and is principles based.”

gets their question answered. Compare this to the typical users of financial statements of public companies, which include shareholders, lenders, investment advisors, rating companies, and management.

Due to securities laws, the company is required to include just about everything imaginable in their financial statements and annual reports, since the company is precluded from giving additional financial information to any individual or select group of users. It does not take too much imagination then to see why the needs of the users of financial statements of private and public companies would differ.

In order to try to deal with this conundrum, a Blue Ribbon Panel (BRP) on Standard Setting for Private Companies was created in 2009 through the joint efforts www.wscpa.org

In May 2012, FAF announced its decision concerning the recommendations of BRP. They decided: “The Financial Accounting Foundation (FAF) Board of Trustees, after seeking and considering public comment, will establish a new body to improve the process of setting accounting standards for private companies. The new group, the Private Company Council (PCC), will be overseen by the Trustees and will replace the existing Private Company Financial Reporting Committee (PCFRC), following an appropriate transition period.

The PCC will have two principal responsibilities: First, the PCC will determine whether exceptions or

modifications to existing non-governmental U.S. Generally Accepted Accounting Principles (U.S. GAAP) are required to address the needs of users of private company financial statements; second, the PCC will serve as the primary advisory body to the Financial Accounting Standards Board (FASB) on the appropriate treatment for private companies for items under active consideration on the FASB’s technical agenda.”

On the same day, AICPA issued a press release stating that it: “supports the creation of the PCC and announced plans to develop an ‘other comprehensive basis of accounting’x(OCBOA)xfinancial reporting framework to meet the needs of some privately held smalland-medium-sizedxenterprises (SMEs), as well as the users of the financial statements of these entities. The OCBOA framework will be a less complicated and less costly alternative system of accounting to U.S. GAAP for SMEs that do not need U.S. GAAP financial statements.”

As promised, on November 1, 2012 the AICPA released a 252 page exposure draft titled “Proposed Financial Reporting Framework for Small-and-Medium-Sized Entities.” As an OCBOA framework (similar to those for cash basis, modified cash basis, tax basis, and regulatory basis of accounting), this framework utilizes a definite set of logical, reasonable criteria that is applied to all material items appearing in the financial statements.

Significantly, the framework is built upon a foundation of reliable and comprehensive accounting principles, employs familiar and traditional accounting methods, WashingtonCPA January/February 2013

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Leadership lens

utilizes historical cost as the primary measurement criteria, reduces required disclosures, and is principles based. In some instances, the framework looks to the treatment of an item for income tax purposes when determining the appropriate accounting for book purposes.

For example, if goodwill does not have an estimable useful life, the amount can be written off over the life used for tax purposes, or over 10 years if no amortization is available for tax purposes. In addition, there would be no annual measurement of any impairment of goodwill, thereby eliminating the need to prepare annual valuations of goodwill or engage others to do so. Another important advantage of this framework is that private companies would be able to stay on the LIFO method of inventory costing (which would not be possible under IFRS or IFRS for SMEs).

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work well for you or your clients. Comments on the exposure draft are due January 30.”

agreements, bonus calculations, loan covenants, etc.) would need to be revised to reference this new framework.

I encourage you to study this new framework to see if it will work well for you or your clients. Comments on the exposure draft are due January 30. So here are the various options that private companies may want to consider for their basis of accounting: • •

U.S. GAAP U.S. GAAP as adjusted by FASB/ PCC for private companies (whenever this exists) • IFRS • IFRS for SMEs • OCBOA proposed by AICPA for SMEs Choices, choices … what’s a SME to do?

You can contact rjones@wscpa.org.

WashingtonCPA January/February 2013

Rich

Jones

Learn more Financial Reporting Framework for Smaller Private Entities www.aicpa.org/frf-smes • • •

Read the exposure draft View video Download Frequently Asked Questions document

s

It is clear to me that this proposed financial reporting framework for SMEs will result in financial statements that are easier and less costly to prepare and will be more useful for typical users of private company financial statements. A real question is whether this framework will be accepted by lenders, since they will need to understand the differences between U.S. GAAP and these OCBOA statements. Additionally, any contracts that reference U.S. GAAP (e.g. earn-out

“I encourage you to study this new framework to see if it will

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Human Capital

Reporting on Human Capital: Why, What & How

By Laurie Bassi and David Creelman

© Getty Images/OJO Images

A

Should CPAs care about human capital reporting or management?

The articles in this issue share some interesting, and some-

ccountants are trained in financial reporting, but may know less about advances in non-financial reporting. For the past two years we have been leading a Society for Human Resources (SHRM) task force investigating voluntary American National Standards Institute (ANSI) guidelines for reporting on human capital to investors. The task force has created these guidelines, but has recently made the decision not to seek ANSI certification as some HR leaders fear formal guidelines, even if voluntary, might lead to an unduly burdensome workload.This still leaves an issue for organizations– if we do want to report on non-financials such as human capital, what should we do? This is not a hypothetical question; organizations are already reporting a wide range of information on human capital. Accountants should understand why this information is being reported and what makes for a useful report.

Why Report on Human Capital?

In developed nations – ours included – human capital is now the primary source of wealth creation. By all indications the importance of human capital will only continue to increase. A growing body of evidence shows firms that excel at human capital management significantly outperform their counterparts. Yet currently, investors have little information

to help distinguish between the human capital leaders and laggards. The leaders have good reason to want to share any information that will improve their stock price.

For some organizations, reporting on human capital is seen as an antidote to short-termism. For example, if an investment in training or succession planning is not explicitly highlighted, it merely shows up as a cost. Organizations that are able to convince investors that these are indeed investments will reduce the pressure to make short-term cuts that could hurt the firm in the long run. By providing investors with insights into the source of long-term value creation, companies can help reduce short-termism. That would be a good thing for all of us – employees, shareholders, and ultimately, society.

But what exactly should firms be measuring and ultimately reporting? To answer this question, our task force gathered perspectives from a broad array of sources (including research-based evidence) to determine the specific aspects of human capital management that appear to be most strongly correlated with future performance.

This process involved culling through a potentially enormous number of indicators (see Figure 1) and winnowing them down to the handful that would be useful for investors. The universe of potential HR metrics is very large. Some categories

times conflicting, viewpoints on human capital reporting and the role CPAs can and should play.

“The impact that financial reporting standards have had on the capital markets is obviously profound. We wouldn’t have the

Read the articles and share

capital markets that we have today in terms of scope, depth and

your opinion in the WSCPA

liquidity if investors didn’t have credible information for financial

LinkedIn group.

reporting,” said Harvard Business School Professor Robert Eccles.

“Transparency is equally important for non-financial reporting...”

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WashingtonCPA January/February 2013

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Human Capital

of metrics, for example, are important for running the HR function efficiently but are not the kind of predictors of organizational performance important to investors.

Senior executives within a firm need to know a subset of these metrics to determine whether the “people side of the business” is being run effectively.

Ultimately, the board needs to focus on a subset of the metrics that senior executives follow. And investors need a smaller subset still – those correlated with future financial performance.

How to Think about Reporting on Human Capital

This is a reasonable conceptual framework; the tough part is the specifics. The first thing to understand is that there is no way of putting a dollar value on human capital such that it could appear on the balance sheet. This should be a relief to accountants and it is also a relief to anyone interested in non-financial reporting because it gets us away from attempting the impossible.

Once you get away from thinking that human capital is analogous to financial capital, it opens up new possibilities of reporting. Remember, the goal is to provide insights for investors, not a set of accounts. This means you do not need to consider all human capital factors the way you need to add up all expenses.

As long as the set of human capital factors you report on add insight, they have done their job.

Another advantage of stepping away from trying to fit human capital into the mold of financial capital is that it allows us to include measures quite different from those found in traditional reporting. Too often, people think that human capital reporting should only be about human capital spending and ratios like revenue per employee. These financial oriented human capital metrics can play www.wscpa.org

a role, but they are far from the whole picture. A measure like employee engagement that affects important business outcomes is relevant even though it is non-financial.

Dan Doctoroff, CEO, Bloomberg L.P., has noted that “Good information is essential for creating trust in the capital markets. We have financial fundamentals - now we need sustainability fundamentals.” In our view, human capital standards are an essential element of these fundamentals.

What to Report

Our advice is that you keep the list of human capital factors lean and easy to implement. It should be a starting point, not an end point. While one might dream of a sophisticated and comprehensive report on human capital, that is not the place to begin. Pick a few factors that are relevant and practical. Relevant means they provide insight into organizational

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© istockphoto.com/Micky Wiswedel

Human Capital

performance, practical means they are reasonably easy to collect.

The factors our task force felt were relevant and practical included: •

• • • •

Human capital spending: specifically aggregate information on the amount spent on compensation, training and the contingent workforce Ability to retain talent: specifically turnover for key groups of employees Leadership depth: the planned and actual number of leadership positions filled internally Employee engagement: how committed employees are to their work Leadershipxquality:xhow employees perceive the quality of leadership practices

What is material to one firm may not be material to another, but these are reasonably general human capital factors that provide a sound starting point.

Interpreting the Numbers

A common mistake among HR professionals, although hopefully not among accountants, is to question the validity of measurements if a higher (or lower) number is not always better. For example, what turnover numbers are appropriate depends on the industry, the strategy and so on. In other words, numbers always need to be interpreted in the light of context. That fact is generally well understood by both CPAs and investors.

Moreover, human capital metrics may provide the greatest insight when they seem “at odds” with financial measures.

For example, an investor might pay little attention to engagement measures that are average or good as long as financial results are strong. However, if engagement is poor then investors will be right

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“While one might dream of a sophisticated and comprehensive report on human capital, that is not the place to begin. Pick a few factors that are relevant and practical. Relevant means they provide insight into organizational performance, practical means they are reasonably easy to collect.”

to worry that it is a leading indicator of future problems or at least a risk factor.

Conversely, if financial results are disappointing but engagement measures are trending upwards, an investor might track this as a potentially important indicator that performance will improve in the quarters ahead.

And of course, reporting on human capital metrics raises issues that provoke deeper discussion. The metrics ground the discussion in facts. But the point is not the number, the point is what the number means and that requires understanding the context. What really good companies can show is that there are no red flags, no undue human capital risks and that, as a healthy company, it is well positioned to execute its strategy.

What Reporting on Human Capital Means for CPAs

Reporting on human capital provides better insights to management, the board and investors. Perhaps it is time for CPAs to kick start this reporting by finding a comfortable starting point.

CPAs will play a direct role in ensuring reporting on human capital spending is done correctly; frankly that ought to be pretty easy, just pulling a report from the general ledger. Most of the other metrics will be pulled from HR’s information system, but HR may well need help from CPAs in assuring data quality.

WashingtonCPA January/February 2013

Another more substantial role for CPAs is being part of the team that makes sense of the data in an integrated way. Human capital is just one element of intellectual capital and on top of that there is the whole world of sustainability reporting. The International Integrated Reporting Council (www.theiirc.org) is working on a new model for integrated reporting, but until that effort is finalized, CPAs and other professionals will have to do their best in providing stakeholders with financial and non-financial information in a useful format.

Next Steps

CPAs are needed in the global movement to improve non-financial reporting.

Drop us an email and we will be happy to discuss human capital at greater length.

Laurie Bassi is CEO of McBassi & Company, a consultancy that specializes in human capital analytics. She can be reached at lbassi@mcbassi.com.

David Creelman is CEO of Creelman Research and co-founder of Creelman Lambert. In both roles he does research and writing on human capital. He can be reached at dcreelman@creelmanresearch.com.

Together, Laurie and David co-lead the group of volunteers (working under the auspices of the Society for Human Resources) to investigate the possibility of voluntary guidelines for reporting on human capital.

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Human Capital

Human Capital Financial Statements: The Missing Link Between Human Capital and Financial Results

By Jeff Higgins, CEO, Human Capital Management Institute

F

or hundreds of years, owners and managers have sought to quantify workforce productivity. This interest has intensified each decade up to the 21st century due to the increasing complexity and sophistication of business, technology and the workforce. Today, it is imperative to identify and differentiate talent, as companies continue searching for ways to quantify workforce productivity and the differential value that top performers contribute versus average performers. In the past, when most jobs were direct sales or product manufacturing, the workforce was easier to measure via traditional metrics (such as sales per salesperson or number of widgets manufactured per worker).

In a world driven by services, data and the internet, measurement of productivity and talent has become increasingly difficult, yet more critical, due to the cost of technology and skilled workers needed to drive today’s organizations.

Since modern workforce productivity is not easily quantified, this challenge requires a new approach and a consistent process. Such a process must measure workforce productivity in aggregate but more importantly, by job role. Such a process must also work across industry, geography, size, and complexity.

Why Haven’t We Disclosed Human Capital Data in the Past?

Quite simply, human capital data has not been disclosed in any significant way because no disclosure is currently required by public company reporting entities. Organizations have executed unprecedented restructuring, retrenchment and downsizing in recent years, yet most still lack the metrics to measure the workforce, or they measure everything and are unable to determine which numbers really matter in a meaningful way.

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“Human resources can readily provide the number of people it hired, the percentage of performance evaluations completed, and the extent to which employees are satisfied or not with their benefits.

But only rarely does it link any of those metrics to business performance.”

- Keith Hammonds, Fast Company (Why We Hate HR, August 2005) Workforce complexity, fluidity, a shortage of analysis skills in HR, and missing human capital reporting standards have contributed to the lack of confidence and minimal human capital reporting in existing financial statements today.

Measuring and Reporting Human Capital

What if it were possible to value the impact of human capital and quantify its contribution in the form of productivity or return?

What if the return on human capital could be definitively measured, quantified and linked to business results by company, business unit, and even job role?

Imagine today’s financial investment marketplace without standard financial statements. Without financial statements, investors would be left on their own with little to no objective information with which to determine whether a company were a worthwhile investment or not. They would be left to rely to a

great extent on the company’s own and potentially skewed information.

In such a situation, investors could be overwhelmed with unsubstantiated positive claims, in which organizations disclose what they consider fair and objective information that puts the best possible light on their performance.

Today, when it comes to evaluating an organization’s human capital, an environment similar to the one described above exists in HR. Organizations are open to make unsubstantiated talent claims regarding productivity, engagement, career path, training, and innovation. Nowhere in current disclosures or reports are they required to substantiate statements with facts or data.

Introducing Human Capital Financial Statements

Just as traditional financial statements allow investors to compare companies, gauge financial performance, and evaluate risk, so too can Human Capital Financial Statements (HCF$™) provide bottom line impact, tell a deeply contextual talent management gain and loss story, and spotlight human capital risks.

Further, the flow of human capital can be measured and predicted, à la workforce planning, enabling HR to devise and implement strategic interventions to optimize building, buying or leasing talent, optimizing costs and critical roles among other strategies.

Human Capital Financial Statements developed by HCMI, represent three distinct statements, fulfilling functions similar to traditional financial statements.This function is to tell a comprehensive, contextual story that connects workforce performance to financial performance across multiple dimensions.

These three unique statements (see Figure 1, pages 14-15) provide a wealth of value to companies and investors, as described below: WashingtonCPA January/February 2013

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Human Capital

Figure 1. Human Capital Financial Statements

Workforce Productivity Impact Human Capital Impact Statement The human capital equivalent or supplement to the income statement, measuring quarterly or annual impact of human capital on financial performance. This statement measures the workforce impact on financial performance for a given reporting period.

Human Capital Asset Statement Like a balance sheet, this statement quantifies the total value of the workforce, specifically the value of human capital at cost and the total value added over and above cost.

It breaks down differential value contributions by job category and can drill down into critical job roles at a micro level to measure ROI of specific job roles.

Human Capital Flow Statement Similar to a cash flow statement, this schedule traces the flow of human capital across headcount, cost and movement by period such as a quarter or year, showing where and how human capital is allocated and used in an organization.

“Human Capital Financial Statements represent the endpoint HR has been searching for to standardize measurement and enable comparison of human capital performance across industry and geography.�

- Dr. Jac Fitz-enz, recognized as the father of human capital measurement

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WashingtonCPA January/February 2013

Revenue

Prior Year

Current Year

Variance

% Chg

$1,400,000,000

$1,540,000,000

$140,000,000

10.0%

Total Workforce Headcount (FTE)

15,000

16,400

1,400

9.3%

Revenue per FTE

$93,333

$93,902

$569

0.6%

Net Operating Revenue (Current Annual)

Costs Total Expenses

$1,170,000,000

$1,285,000,000

$115,000,000

9.8%

Total Operating Expense

$725,000,000

$795,000,000

$70,000,000

9.7%

Total Cost of Workforce (TCOW)

$779,950,000

$861,000,000

$81,050,000

10.4%

TCOW Percent of Revenue

55.7%

55.9%

0.2%

0.4%

TCOW Percent of Expenses

66.7%

67.0%

0.3%

0.5%

TCOW Percent of Operating Expenses

107.6%

108.3%

0.7%

0.7%

Profit EBITDA

$310,000,000

$340,000,000

$30,000,000

9.7%

Net Operating Profit

$143,750,000

$159,375,000

$15,625,000

10.9%

$9,583

$9,718

$135

1.4%

$2,156,250,000

$2,390,625,000

$234,375,000

10.9%

$143,750

$145,770

$2,020

1.4%

1.29

1.30

0.00

0.1%

18.4%

18.5%

0.1%

0.4% 93.6%

Profit per FTE

Productivity and ROI of Human Capital Total Market Capitalization(1) Average Market Capitalization Value per FTE Human Capital ROI Ratio Return on Human Capital Investment Lagging Workforce Productivity Impact

$4,219,281

$8,169,200

$3,949,920

Projected (Mkt) Workforce Productivity Value

$30,350,719

$33,125,000

$2,774,281

9.1%

TOTAL WORKFORCE PRODUCTIVITY IMPACT:

$34,570,000

$41,294,200

$6,724,200

19.5%

Total Cost of Workforce Compensation and Benefits Costs

Prior Year

Current Year

Variance

% Chg

- Total Workforce Salary Cost

$530,000,000

$587,000,000

$57,000,000

10.8%

- Total Bonus and Incentives Cost

$65,000,000

$68,000,000

$3,000,000

4.6%

- Total Benefits Cost

$120,000,000

$135,000,000

$15,000,000

12.5%

- Total Cost of Promotions and Salary Increases

$13,000,000

$14,000,000

$1,000,000

7.7%

- Total Other Compensation

$3,000,000

$3,000,000

$0

0.0%

$807,000,000

$76,000,000

10.4%

Total Workforce Compensation & Benefits Cost: $731,000,000

HR Costs - Total Training & Development Cost

$27,800,000

$31,250,000

$3,450,000

12.4%

- Total Recruiting and Onboarding Cost

$8,000,000

$9,000,000

$1,000,000

12.5%

- Total Employee Relations and Risk Mitigation Cost

$5,000,000

$5,100,000

$100,000

2.0%

- Total HR Transaction & Administration Cost

$7,150,000

$7,650,000

$500,000

7.0%

- Total Management Cost

$2,000,000

$2,100,000

$100,000

5.0%

- Total Benefits Program Cost

$2,000,000

$2,200,000

$200,000

10.0%

- Total Payroll Cost

$1,500,000

$1,600,000

$100,000

6.7%

$650,000

$700,000

$50,000

7.7%

- Total Internal Mobility Cost - Total Other HR Cost

$1,000,000

$1,050,000

$50,000

5.0%

$47,950,000

$53,000,000

$5,050,000

10.5%

Total Other Workforce Costs:

$1,000,000

$1,000,000

$0

0.0%

TOTAL COST OF WORKFORCE:

$779,950,000

$861,000,000

$81,050,000

10.4%

Total HR Expenses:

Note: All Figures in US Dollars

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Human Capital

Talent Management Impact Recruiting and Hiring Quality of Hire Index (Adjustment Factor) Change in Average Days to Start (2) Total Open Positions (Critical Revenue Producing) Total Internal Hires

Prior Year

Current Year

Variance

% Chg

68%

70%

1.8%

2.7%

-5

-5

0

0.0%

200

250

50

25.0%

500

675

175

35.0%

Average Lost Revenue or Production per Day per Position

-$1,000

-$1,200

-$200

20.0%

Average Internal vs. External Cost per Hire Differential

$2,500

$4,500

$2,000

80.0%

Change in Open Position Lost Revenue & Production

$1,000,000

$1,500,000

$500,000

50.0%

Internal vs. External Cost per Hire Differential

$1,250,000

$3,037,500

$1,787,500

143.0%

Total Recruiting and Hiring Impact:

$2,295,000

$4,660,721

$2,365,721

103.1%

0.35

0.36

0.01

1.5%

$1,000

$1,000

$0

0.0%

Internal vs. External Hire Compensation Differential Internal vs. External Hire Compensation Cost Impact:

$500,000

$675,000

$175,000

35.0%

Total Mobility Impact:

$510,000

$665,182

$155,182

30.4%

Talent Management Index

55%

63%

8.2%

14.9%

Managerial Bench Strength

53%

54%

1.4%

2.7%

Total Management Headcount

1,250

1,300

50

4.0%

Leadership and Management

Management Span of Control

12.0

12.6

0.6

5.1%

Span of Control Cost Impact:

$3,000,000

$10,066,665

$7,066,665

235.6%

Total Leadership and Management Impact:

$3,244,500

$11,837,808

$8,593,308

264.9%

Training Training Effectiveness Index

55%

53%

-1.7%

-3.2%

Total Employees with Training Productivity Gains

3,000

5,000

2,000

66.7%

Average Training Performance Differential per Employee

$1,500

$2,000

$500

33.3%

Training Performance Differential Impact:

$4,500,000

$10,000,000

$5,500,000

122.2%

Training Impact:

$4,950,000

$9,684,477

$4,734,477

95.6%

Employee Engagement Index or Score

47%

51.7%

4.7%

10.0%

Employee Engagement Revenue Linkage Impact

0.5%

0.5%

N/A

N/A

Performance and Engagement

High Performer Productivity Differential

10%

10%

0.0%

-0.3%

Total End of Period High Performers

1,500

1,650

150

10.0%

Employee Engagement Productivity Impact:

$1,500,000

$7,720,975

$6,220,975

414.7%

High Performer Productivity Impact:

$14,000,000

$15,443,249

$1,443,249

10.3%

Performance and Engagement Impact:

$15,500,000

$23,164,225

$7,664,225

49.4%

Total Applicable Replacement Hires

300

390

90

30.0%

Total Terminations

700

800

100

14.3%

Average Replacement Hire Compensation Cost Differential

-$2,000

-$7,359

-$5,359

268.0%

Average Cost of Turnover

-$3,000

-$9,959

-$6,959

232.0%

-$600,000

-$2,870,010

-$2,270,010

378.3%

Cost of Turnover Impact:

-$2,100,000

-$7,966,990

-$5,866,990

279.4%

Turnover and Retention Impact:

-$2,700,000

-$10,837,000

-$8,137,000

301.4%

$23,799,500

$39,175,412

$15,375,912

64.6%

$10,770,500

$2,118,789

-$8,651,711

-80.3%

$34,570,000

$41,294,200

$6,724,200

19.5%

Turnover and Retention

Compensation Cost of Replacement Hires Impact:

TOTAL TALENT MANAGEMENT IMPACT: Total Other Workforce Impact: TOTAL ORGANIZATION IMPACT:

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ments are not a substitute for current financial statements.

They are a tool to measure the workforce and a resource for workforce insight and a supplement into a key success differentiator and source of future

Mobility Career Path Ratio

“Human Capital Financial State-

intangible value creation.”

A Supplement to Financial Statements, not a Substitute

Human Capital Financial Statements are not a substitute for current financial statements. They are a tool to measure the workforce as well as a resource for workforce insight and a supplement into a key success differentiator and source of future intangible value creation.

Company workforce costs should continue to be reported and treated conservatively as a period expense for traditional accounting and reporting, with one possible exception: the capitalization of qualified training costs.

These statements quantify trends in workforce productivity, costs and value creation across the talent management lifecycle. Now we can clearly demonstrate a relationship between an organization’s financial performance and its workforce.

In practice, these statements can lead to a radical change in how organizations think and make decisions regarding their human capital. For example, a publicly traded international telecommunications company called Broadtek (a pseudonym), utilized human capital financial statements in a strategic discussion with company top management and the board of directors. The board, based on recent performance in traditional productivity metrics revenue and profit per full-time equivalent (FTE), was recommending a reduction in force.

WashingtonCPA January/February 2013

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Human Capital

Figure 2. BroadTek Human Capital Impact Statement (Workforce Productivity Impact Section) Revenue Net Operating Revenue Total Workforce Headcount (FTE) Revenue per FTE

Prior Year $4,114,540,000 4,645 $885,800

Current Year $4,444,560,000 4,750 $935,697

Variance $330,020,000 105 $49,897

% Chg 8.0% 2.3% 5.6%

Costs Total Expenses Total Operating Expense Total Cost of Workforce (TCOW) TCOW Percent of Revenue TCOW Percent of Expenses TCOW Percent of Operating Expenses

$2,788,752,921 $2,262,997,000 $447,661,952 10.9% 16.1% 19.8%

$2,809,406,376 $2,377,839,600 $467,567,712 10.5% 16.6% 19.7%

$20,653,455 $114,842,600 $19,905,760 -0.4% 0.6% -0.1%

0.7% 5.1% 4.4% -3.3% 3.7% -0.6%

Profit EBITDA(1) Net Operating Profit Profit per FTE

$1,316,652,800 $573,155,422 $123,392

$1,511,150,400 $680,017,680 $143,162

$194,497,600 $106,862,258 $19,770

14.8% 18.6% 16.0%

Productivity and ROI of Human Capital Total Market Capitalization(2) Average Market Capitalization Value per FTE

$6,304,709,642 $1,357,311

$6,800,176,800 $1,431,616

$495,467,158 $74,305

7.9% 5.5%

3.96 128.0%

4.50 145.4%

0.54 17.4%

13.5% 13.6%

$355,630,545

$700,578,523

$344,947,978

97.0%

Human Capital ROI Ratio Return on Human Capital Investment TOTAL WORKFORCE PRODUCTIVITY IMPACT:

(1) EBITDA = Earnings before interest, taxes, depreciation and amortization (2) Total Market Capitalization for publicly traded organizations or independent bank/financial market valuation for private entities

Top management was convinced they had made substantial progress in controlling Total Cost of Workforce (TCOW) and improved productivity by changing their workforce mix by selectively growing and investing in critical roles while disinvesting and slowly reducing positions that added less value. As a result, Broadtek top management, using human capital financial metrics, demonstrated to the board that Broadtek workforce productivity was increasing 13.5 percent per year, while competitor productivity was negative and showed no signs of improv-

16

ing (see figure 2). At the same time Broadtek management had held TCOW growth to 4.4 percent, far less than the competitors’ ballooning 10 percent plus TCOW cost increases. The board not only agreed with management, but also supported continued strategic investment in critical roles, provided workforce cost targets were maintained.

Human Capital Financial Statements Answer Many Questions Starting With:

WashingtonCPA January/February 2013

•

What impact does human capital

have on financial performance?

What is the right number of employees and workforce cost?

• What is the marginal return of $1 invested in the workforce?

• What is the human capital value creation by different job roles?

• What is the true cost impact of turnover?

Gains from adopting Human Capital Financial Statements begin with the following: 1. Greater transparency into an organization’s stated “most •

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Human Capital

“... these statements provide not just metrics but a methodology and framework with which to show whether the workforce and HR are creating significant value for the organization.”

© Getty Images/OJO Images

valuable asset,” the workforce, and insight into management effectiveness with that most valuable asset.

Transparency into knowledge capital fills a critical gap in today’s disclosure reporting.

2. A method to value knowledge capital. The world of business has changed and it is time that reporting and market disclosures changed with it. The drivers of market valuation today and in the future are far more by knowledge capital than by financial or physical capital. Today, knowledge capital is classified as intangible capital since no measures existed to make reasonable and accurate valuations. The Human Capital Asset Statement addresses that need.

Adoption of the Human Capital Asset Statement can bridge this important gap and give everyone from credit rating agencies, banks, public reporting entities, and individual investors, an objective set of numbers and values with which to make better decisions about the true drivers of value.

3. Improved investment decisions, with better information, means improved ability to assess future growth, particularly innovation and long term value creation.

This could lead to more efficient and effective deployment of www.wscpa.org

human capital in organizations.

4. Supports standards for human capital reporting and analysis of human capital data for human resources, and the business. The Human Capital Financial Statements actually exceed the Society for Human Resources (SHRM) Human Capital Investor Metrics voluntary reporting standards.

Further, these statements provide not just metrics but a methodology and framework with which to show whether the workforce and HR are creating significant value for the organization.

5. Enables benchmarking and comparison of a critical expense and differentiator of success. Standards enable deep benchmarking and identify best practices on a broad scale. Today’s benchmarking is often more anecdotal than objective and quantitative.

6. Links financial results to the workforce with both definitive measurement and a contextual story via high level productivity metrics and quantifiable impact, but also by individual talent management life cycle segment (such as recruiting, internal mobility, management and leadership, training, performance and engagement, and turnover/retention).

Such a set of metrics and reports enable HR and finance departments to integrate financial results with human capital metrics that quantify bottom line impact in recruiting, mobility, training, productivity, retention, and more. Ultimately, the possibilities for workforce optimization are limited only by data availability and systems that create a repeatable process.

While complex, such human capital reporting can be done and is being done by 100+ organizations today. The real question is, if human capital is a critical differentiator in your business, why aren’t you doing it?

For more detail on these and other foundational concepts as well as details on the metrics and calculations involved please visit www.hcminst.com. Also see the groundbreaking white paper entitled Human Capital Financial Statements here.

Jeff Higgins is CEO of the Human Capital Management Institute. He is a driving force in workforce analytics and planning, helping to transform workforce data into intelligence and ROI. He has experience as both a senior HR executive and former CFO, with 15 years of experience in finance and accounting roles for companies such as Johnson & Johnson, Baxter International and Colgate Palmolive. You can contact him at jeff.higgins@hcminst.com.

WashingtonCPA January/February 2013

17

Human Capital

I

ntensifying competition, continuing marketplace volatility and widespread globalization have done more than redefine the strategies, rules and measures of sustainable success for organizations today. These challenges have also fueled the emergence of a critical driver of growth that until now has been too often overlooked—human capital management.

Employee skills, experience, development, and job satisfaction can mean the difference between the success and failure of a business. Acknowledging this, the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA) commissioned the Economist Intelligence Unit to perform a global survey, Talent Pipeline Draining Growth: Connecting Human Capital to the Growth Agenda.

The survey of more than 300 CEOs, CFOs, and human resource directors from a wide range of organizations and industries was performed in July 2012.

Its purpose was to understand talent management’s importance in business strategy and determine whether organizations have the resources in place to manage talent effectively.

Senior Executives Focus on Performance Targets and Strategy Leadership

Among the survey’s eye-opening findings is the damage inadequate human capital management is having on the bottom line. Forty-three percent of senior executives attributed their organization’s failure to hit key financial targets to ineffectively harnessing and managing their employees’ skills and experience.

In addition, 40 percent believe that mismanaging talent has reduced their ability to innovate and 39 percent believe it is a barrier to achieving forecasted growth.

Such measurable shortfalls take a tremendous toll on organizations, especially at a time when optimum performance,

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progress, and competitive standing are needed most.

“Ideas are the currency of the knowledge economy, so human capital must be managed as rigorously as financial capital,” said Arleen Thomas, CPA, CGMA, Senior Vice President for Management Accounting at the AICPA. “It is clear from our research that many companies are falling short of their potential because they lack thorough, relevant information about their people to support effective strategy, hiring and training decisions. Chartered Global Management Accountants can bridge this gap, combining broad perspective and analytical rigor to ensure the right focus and metrics that align talent management with business strategy.”

As the value of a successful talent management strategy begins to take greater hold among business leaders, there is less clarity on who is responsible for measuring the effectiveness of a firm’s talent management strategy. Eighty-three percent of human resource directors believe it is their responsibility; however, CEOs and CFOs disagree. Instead, 65 percent of CEOs responded that the CFO and finance team should be responsible for measuring the overall cost and value of recruiting, retaining and developing talent in their organizations.

“There is a worrying boardroom divide that threatens to destabilize sustainable growth by allowing the best talent to slip away,” said Charles Tilley, FCMA, CGMA, and CEO of CIMA. “It is vital that organizations embed a robust human capital strategy within the wider business plan and develop appropriate metrics and KPIs that are subject to the same level of scrutiny as financial data.”

Four Steps Lead the Way to Successful Talent Management

To help senior executives reap the full benefits of an effective human capital management strategy, and overcome any roadblocks that may arise, the AICPA and

WashingtonCPA January/February 2013

© istockphoto.com/Media photos

Human Capital Management: A Key Driver for Growth

CIMA identified in their survey report the following four steps business leaders can take, which can be supported with guidance from CGMAs, to reconnect talent management with growth and progress: Step 1: Create human capital metrics and KPIs that are core features of the organization’s overall business strategy, and ensure that they also help implement the business strategy.

Step 2: Make certain that human capital information is credible and accurate, and made relevant and actionable so that it can support business decisions.

Step 3: Establish clear guidelines that not only explain responsibility, accountability and ownership of human capital management but also bring heightened visibility and credibility to the function.

Step 4: Ensure that your organizational structure fosters close partnerships between executive and operational levels, especially collaboration between finance and human resources.

To learn more about the Talent Pipeline Draining Growth: Connecting Human Capital to the Growth Agenda survey, visit www.cgma.org (search for “talent pipeline”).

Printed with permission of the AICPA.

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news briefs

Boost Your Client Base Enroll in the WSCPA Find a CPA Referral Service If your firm is looking for ways to build your client base, look no further than the WSCPA Find a CPA Referral Service. The cost of the enrollment is still just $175—less than 50 cents per day—and covers your listing through June 30, 2013.

Typically the public turns to this service most during the January-April tax season. So now is a great time to consider enrolling your firm.

The WSCPA CPA Referral Service is a great source of new clients looking for services in industries that match your firm’s expertise.

Rather than using directory assistance to find a CPA, potential clients feel comfortable about their referral from the WSCPA because they are able to view information about services offered by your firm.

To enroll in the service visit www.wscpa.org (Find A CPA > Enroll Online Today). To find out more about the service call Jennifer Ayoub at (800) 272-8273, Ext. 1142 (toll-free in Washington) or (425) 586-1142 or send an e-mail to jayoub@wscpa.org.

In Memoriam The WSCPA holds in memory with families and the larger community, these members who have recently passed on: David J. Bauch, CPA Donald H. Hansen, CPA Robert S. Mickelson, CPA Noel W. Riffe, CPA Peter J. Zalusky

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Are You Switching from QAR to Peer Review?

Firms previously undergoing a Quality Assurance Review (QAR) through the Washington State Board of Accountancy (WBOA) are now required to enroll and participate in the WSCPA Peer Review Program.

If you were previously enrolled in the QAR program, please download and submit the WSCPA Peer Review Enrollment Form at www.wscpa.org (search for “enrollment form”). If you have questions about Peer Review, please contact Julie Phipps, Manager of Professional Standards, jphipps@wscpa.org or (800) 272-8273, Ext. 1132. For more information about Peer Review, visit www.wscpa.org (search for “Peer Review”).

Learn about the WBOA’s QAR rule change at www.cpaboard.wa.gov (click Rule-Making, “QAR and CPE” under 2012 Board Rule-Making).

Nominate your peers!

WSCPA Annual Awards

John L. O’Brien Lifetime Achievement Award Vincent A. Gervais Public Service Award Business of the Year Award | Volunteer of the Year Award Rising Star Award | New Professional Award Learn more about these awards and submit your nomination by March 15 at www.wscpa.org/awards

Sponsorships Available for Networking Events

New Professional networking events offer opportunities for those pursuing the designation and CPAs licensed ten years or fewer to strengthen their networking skills in relaxed, comfortable settings. Your business can engage with this group and support these events in 2013 by becoming a sponsor. To learn more, contact Amy O’Donnell at aodonnell@wscpa.org or (425) 586-1140.

Attention Accounting Students: Scholarship Deadline - February 15

The application deadline for scholarships from the Washington CPA Foundation is February 15. All application materials must be postmarked by this date. Find scholarship qualifications and requirements at www.discovercpa.org (click on “Scholarships”). There’s still time to contribute to the Washington CPA Foundation, and to be eligible to attend the Foundation’s annual reception in May 2013. Contribute today at www.wscpa.org.

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advocacy

Advocacy in Accounting

By Craig Connell, CPA

N

ewly licensed and aspiring Certified Lastly, get involved in advocacy! It is Public Accountants often ask, “What not as difficult as it seems, and there are does advocacy have to do with me?” great options available. The Washington Advocacy is the active support of a cause, Society of CPAs has many committees idea, or policy. How one demonstrates, that you can be involved with, such as interprets, and interacts with advocacy the New Professionals Committee. As a can vary with the passion one feels. member of the New Professionals ComWhether you know it or not, you are mittee, I have met (and stayed in contact) advocating every day. Perhaps you advo- with dozens of CPAs around Washingcate for your favort o n x S t a t e . x Jo i n ite sports team, a axcommitteexat political figure, or www.wscpa.org (in “Advocacy is not something you even your lunch! the WSCPA Comneed to learn or be taught; So why not advomunity section). cate for accountOr, become a it is merely the support of the ing? Advocacy can GrassrootsxVolcause, idea, or policy you are simply come from unteer.xYouxcan discussing new or become a WSCPA passionate about.” changing tax laws GrassrootsxVolor the impending unteerxthrough convergence of GAAP and IFRS, volun- the WSCPA website. Simply move your teering in an organization that you’re pas- cursor over “Advocacy” and click on “Volsionate about, or even blogging or writing unteer” in the drop-down menu. Once a letter to your local Congress member. you log in, you can complete the applicaAs an example, a fellow CPA I know tion form. You may even be selected to has an enormous amount of passion for serve on the CPAPAC Committee somepolitics and accounting. He has demon- day, like I was! strated his passion through visits with As a member of the CPAPAC Comdistrict representatives, state senators, mittee, I was able to voice my opinion and even visiting Washington, D.C., dis- while hearing in-depth policy issues surcussing the impact of public accounting in rounding our profession in Olympia, both the political and business environ- while helping to direct dollars to legislaments. While this may seem extreme, he tors’ campaigns. is advocating by fostering and facilitating Whether you choose to join a WSCPA meaningful discussions with others, which committee or become a grassroots volis the easiest way we all can advocate for unteer, I can testify that your efforts will our profession. Your active support as a be recognized and appreciated. representative of Washington CPAs is You may or may not be passionate vital to our continued success. about exposure drafts and newly issued Advocacy has many meanings. A share- standards, but I am certain there is someholder in a large public accounting firm thing in your accounting career that has will likely have different viewpoints com- stirred you to take a position and talk pared with the CFO of a medium-sized about the issue with your peers, menmanufacturing business. The best way to tors, and leaders. Advocacy is not someobtain an understanding of the issues thing you need to learn or be taught; it is that can potentially affect your career for merely the support of the cause, idea, or years to come is simply asking your lead- policy you are passionate about. ers, mentors, and peers and taking a posiCraig Connell is a manager with Moss tion on the policies that will likely affect Adams LLP in Everett.You can contact him at your career. craig.connell@mossadams.com.

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WashingtonCPA January/February 2013

Brett Jordan, CPA (right), talks with Representative Cyrus Habib (48th Legislative District) following the Advocacy 101 session.

More than 20 members gathered at the WSCPA Learning Center in Bellevue to learn about the importance of advocacy.

www.wscpa.org

(Left to right) Katie Kirsch, Jarrod Miller, and Craig Connell, CPA, listen as WSCPA lobbyist Lisa Thatcher explains the ins and outs of the legislative process.

advocacy

Important Notice from the Washington State Board of Accountancy

Š istockphoto.com/pixdeluxe

Do your individual CPA credentials expire in 2013?

Still need CPE hours?

I

f your individual credentials expire in 2013, you must have completed your required continuing professional education (CPE) by December

31, 2012. If you did not fulfill this requirement, your credential is no longer eligible for renewal and will lapse. To reinstate your license you will need to follow reinstatement procedures and pay reinstatement fees.

If you find yourself in this situation: 1. Immediately contact the Washington State Board of Accountancy (WBOA) staff to notify them of the deficiency in CPE hours, (Board Jason Dangler, CPA, (seated) talks with Aaron LeBeau, CPA, following the presentation.

Advocacy 101 As the next generation of leaders is preparing to take on more responsibility and shape the profession, they are learning more about the importance of advocacy.

In November, the New Professionals Committees hosted an Advocacy 101 session with newly elected Representative Cyrus Habib and Lisa Thatcher, the lobbyist for the WSCPA. Members of the WSCPA Board of Directors, CPAPAC Committee and local chapter leadership also joined the group. The event provided an opportunity to learn about the legislative process, how CPAs get involved, the importance of building relationships with legislators and the key role CPAs can play in providing a deeper understanding of the implications of bills. Attendees left the session armed with new knowledge and ready to put it to use.

staff will assist you through the reinstatement process) AND 2.

Complete the required CPE credit hours, AND

3.

On or before June 30, 2013 submit to the Board a complete reinstatement application in conjunction with documentation to support the hours completed, and fee of $480.

ONLINE LICENSE RENEWAL You are encouraged to renew your individual and/or firm license with the WBOA online using Secure Access Washington. However, you may request a renewal form to submit with the proper fee by mail.

Step By Step Instructions Download instructions for using the online system here: www.cpaboard.wa.gov/Resources/OnlineInstructionDetails.shtml QUESTIONS? If you have difficulties registering with Secure Access Washington (SAW), contact Washington State Board of Accountancy Customer Service at (360) 753-2586 or e-mail customerservice@cpaboard.wa.gov.

To learn more, visit www.cpaboard.wa.gov.

www.wscpa.org

WashingtonCPA January/February 2013

21

Technology Tip

Pivot Tables, Percentages, and Cumulative Percentages

F

© Veer/Blend Images Photography

or those who build PivotTables in Excel, basic computations such as summing large volumes of data rarely present challenges. However, when other types of calculations are needed, such as percentages and cumulative percentages, things can become a little more challenging. In this tip, you will learn how to add percentage calculations to your Pivot Tables as well as how to compute cumulative percentages.

Adding Percentages to the PivotTable

To begin, consider the PivotTable of which Figure 1 shows a portion; this Pivot Table sums disbursements by vendor for a fiscal year. In addition to seeing total Figure 1 - Basic PivotTable

disbursements, suppose you would also like to see the relative percentages of disbursements for each vendor.

To add a percentage calculation to the PivotTable, add the Amount field from the source data to the PivotTable a second time, as shown in Figure 2.

Once the Amount field exists a second time on the PivotTable, right click in the column that contains the data and choose Value Field Settings. In the resulting Value Field Settings dialog box, on the Show Values As tab, choose % of Column Total and change the Custom Name to Vendor %, as shown in Figure 3.

Upon clicking OK, the PivotTable updates to reflect relative percentages for each vendor, as shown in Figure 4.

Figure 2 - Adding the Amount Field to the PivotTable a Second Time

Figure 3 - Changing Field Settings to “% of Column Total”

To view a video demonstration of this tip, scan this QR code with your smart phone barcode scanner app or go to: www.tinyurl.com/k2tips130

22

WashingtonCPA January/February 2013

www.wscpa.org

technology Tip

Adding Cumulative Percentages to the PivotTable

Next, suppose that you also want to see cumulative percentages; for example, suppose you want to see which vendors, when sorted in descending order based on total expenditures, account for 80% of your total expenditures. To accomplish this, begin by sorting the Pivot Table, shown in Figure 4, in descending order based on Total Disbursements. You can do this by clicking the drop-down arrow next to Vendor in cell A3, choosing More Sort Options..., and then choosing Descending and selecting Total Disbursements, as shown in Figure 5.

Once you have sorted your data, add the Amount field to the PivotTable yet again and return to the Value Field Settings dialog box for the newly added field.

This time, change the setting in Show

values as to % Running Total In, as shown in Figure 6. Also, update the Custom Name to Cumulative % while working in the Value Field Settings dialog box.

Upon clicking OK, your PivotTable will update to display cumulative percentages, as shown in Figure 7.

PivotTables are in the minds of many of Excel’s most powerful functions. Unfortunately, many struggle with creating calculations inside their PivotTables and often resort to manual and error-prone procedures outside of their PivotTables to create calculations. As clearly demonstrated here, that is not usually necessary.

By adding the numeric field on which the calculation is based onto the PivotTable multiple times and changing the field settings for that field, calculations such as percentages and cumulative percentages are relatively easy.

Figure 4 - PivotTable with Percentages Added

Learn More April 23 Excel Budgeting and Forecasting Techniques (EBT) April 24 Technology for CPAs: Don’t Get Left Behind (TEC02) April 25 Cloud Computing (CLC02) These courses will be held at the WSCPA Learning Center in Bellevue, from 8 am - 4 pm.

-- K2 Enterprises

Figure 5 - Sorting in Ascending Order Based on Total Disbursements

Figure 7 - PivotTable with Cumulative Percentages Figure 6 - Calculating Cumulative Percentages in a PivotTable

www.wscpa.org

WashingtonCPA January/February 2013

23

© istockphoto.com/Blend Images

Financial Literacy

Taxpayer Identity Crisis

By Amy O’Donnell

A

s we head into another tax season, an issue to keep in mind is the growing number of taxpayer identity theft cases. In 2011, the IRS identified 1.2 million incidents—double the amount in 2010. According to the Treasury Inspector General, the numbers may actually be higher. In addition to individual fraud, commercial identity theft is also on the rise and can be especially devastating for small businesses.

Identity theft of any kind is a frustrating ordeal for the victim. Victims must continually provide documentation to prove their innocence. In the case of taxpayer fraud, a thief may collect the refund and leave the victim with a host of problems. A victim may not know theft has occurred until (1) the IRS notifies her that more than one return has been filed in her name, (2) the IRS suspects that she has not reported all of her income on a return due to someone using her information to gain employment, and/or (3) the victim receives notification that collection actions have been taken against her for a year she did not file taxes.

Trying to navigate this process without a CPA can be challenging and even make victims feel hopeless.

If one of your clients becomes a victim

of taxpayer identity theft, you can advise her to: • Remember that the IRS never uses e-mail or social media to contact taxpayers.

• Respond immediately to notifications from the IRS. • Contact the IRS Identity Protection Specialized Unit at (800) 9084490.

• Complete an Identity Theft Affidavit (Form 14039).

• File a police report.

• Maintain records of all correspondence and copies of letters.

• Take extra care to safeguard personal information, especially Social Security Number, take steps to protect paper and electronic files, and regularly check credit reports (at least once a year).

On the Commercial Side

Commercial identity theft is also on the rise and can be ruinous for businesses. This is even more challenging for small business owners whose personal information and finances are closely tied to the business. Thieves increasingly have targeted businesses because the payoff can be larger (higher credit limits and

ability to make larger purchases) and the fraud may not be noticed for longer periods of time. With a company’s Employer Identification Number, a thief can access bank accounts, lines of credit, or new credit can be gained. A business running on a thin margin may not have the finances to cover the cost incurred from fighting the fraud, which leads to a tarnished reputation, unpaid bills, negative tax consequences on a state and federal level, even problems with state licensing and personal liabilities.

The IRS offers resources for consumers, business owners, and tax professionals at www.irs.gov/identitytheft. As a practitioner you can do your part to protect client information by implementing procedures that safeguard personal information, educating staff on the importance of following these steps at all times, encrypting data, and even taking simple steps like locking drawers and computers when not in use.

Need more information? Visit the AICPA, IRS, and Federal Trade Commission websites to find valuable resources on these topics.

Amy O’Donnell is WSCPA Member Services Manager. You can contact her at aodonnell@wscpa.org.

IRS or Washington State Tax Problems?

Experience Can Make A Difference.

IRS, Revenue and Labor & Industries Audits: Administrative and Judicial Appeals & Refund Actions; Lien & Collection Problems; Tax Planning; Commercial Litigation.

Martin Silver  ü L.L.M. (Tax) New York University  ü Author of Washington Taxes: Representing Taxpayers Before The Department of Revenue, (Butterworths 1992)  ü Adjunct Professor, Golden Gate Representing Businesses and Professionals Nationwide, Confidentiality Guaranteed.

OFFICES OF

Martin Silver, P.S. Attorneys & Counselors

1420 Fifth Avenue, Suite 3000 | Seattle, Washington 98101-2393 | Telephone (206) 224-3461 | Fax (206) 224-3459

24

WashingtonCPA January/February 2013

www.wscpa.org

member discounts

UPS Discounts for Members Just in Time for Tax Season Shipping Needs WSCPA members can save up to:* • 16% off UPS Commercial Ground • 30% off UPS Express air and

international shipments • 30% off UPS Next Day Air

When you need to ship to the IRS ... save with UPS

© istockphoto.com/lisegagne

When you ship with UPS, you get the peace of mind that comes from using the carrier that delivers outstanding reliability, greater speed, more service, and innovative technology. UPS guarantees delivery of more packages around the world than anyone, and delivers more packages overnight on time in the US than any other carrier. Simple shipping. Special savings. It’s that easy!

Tax Season Shipping? UPS is an approved private delivery service by the IRS to ensure that your clients meet the “timely mailing as timely filing/paying” rule for tax returns and payments. The IRS accepts the following UPS services: UPS Next Day Air, UPS Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A.M., UPS Worldwide Express Plus,UPS Worldwide Express.

Members must enroll in the UPS Savings Program to take advantage of this exclusive offer.

For complete details or to sign up go to www.savewithups.com/wscpa.

Here’s a sample of the discounts you can receive by enrolling in the UPS Savings Program: *See Rates and Services Chart for detail of Savings and Discounts, which depend on total weekly gross shipping charges incurred.

Total Weekly Gross Shipping Charges

UPS Next Day Air® or Air Saver® (Ltr/Pkg)

UPS Worldwide Express®/

UPS Commercial Ground

Saver® / Expedited® Export (Ltr/Doc/Pkg)

(1-10 lbs)

(11-30 lbs)

(31-150 lbs)

Up to $49.99

16%

16%

3%

7%

11%

$50 to 99.99

17%

17%

4%

8%

12%

$100 to 249.99

18%

18%

5%

9%

13%

$250 to 499.99

20%

20%

6%

10%

14%

$500 to 999.99

24%

24%

7%

11%

15%

$1,000 and up

30%

30%

8%

12%

16%

Save 25% on U. S. Master Tax Guide when you order by January 31

Order your copy of the industry’s leading tax guide by January 31 and save 25% off the list price of $90.95. The WSCPA member price is just $68.21, plus tax and shipping.* Available in text or e-book formats, the 2013 edition will contain timely and precise explanations of federal taxes for individuals, corporations, partnerships, estates and trusts.

Plus, save up to 40% on CCH’s featured titles, which change every month. To order the U. S. Master Tax Guide and other CCH publications, visit http://tax.cchgroup.com/members/wscpa and enter member discount code Y5596. * You will not be billed until after the book ships. (Cancel before shipment without charge.) www.wscpa.org

WashingtonCPA January/February 2013

25

Photo Album Spokane Chapter Drive for Dollars

Not-For-Profit Conference November 2012 - Bell Harbor International Convention Center, Seattle

November 2012 - Downtown Spokane The Spokane Chapter held a “Drive for Dollars” fundraiser to benefit Second Harvest on November 14. Chapter members, along with students from Gonzaga and Eastern Washington University, volunteered throughout the day, encouraging drivers to pull over and make donations. In total, the event raised over $8,350 for Second Harvest.

Nearly 250 members attended the Not-For-Profit Conference at Bell Harbor International Convention Center on the Seattle waterfront.

WSCPA member Jillian Robison’s car caught the attention of Spokane drivers during the fundraiser.

© 2012 Fire Eyes Photography

KXLY radio station provided live coverage of the event.

New Professionals Networking Event Building Bridges at the DoubleTree

Eastern Washington and Gonzaga University students volunteered throughout the day.

November 2012 Spokane

During the New Professionals Committee’s final networking event of the year, members took a break from mingling to learn the basics of wine.

26

WashingtonCPA January/February 2013

Visit the WSCPA on Facebook to view more event photos and learn about future events www.facebook.com/WashingtonCPAs www.wscpa.org

CPE Digest CFO Series Bank Financing and Financial Statement Analysis (CFOSB)

Chief Financial Officer CFO Series Designed for CFOs and aspiring CFOs

Bank Financing Financial Statement Analysis Cash Flow Modeling Capital Projects, Acquisitions & More Learn more and register at www.wscpa.org/cpe/catalog www.wscpa.org

Chief Financial Officer: Executive Level Skills for Financial Managers (CFO01)

March 15 | 8 am - 4 pm WSCPA, Bellevue

April 22 | 8 am - 4 pm WSCPA, Bellevue

In the first course of the CFO Series, discover how to effectively work with and negotiate with bankers in order to finance a company.

April 23 | 8 am - 4 pm Hampton Inn, Spokane

Learn how banks analyze a company’s financial condition, types of financing appropriate at various stages in a company’s life cycle, and techniques for dealing with banks in the current economic environment.

Being a great accountant alone will not qualify you to be a chief financial officer. This course will help you gain an understanding of the CFO’s role in four important aspects of running a business: Chief Ethics Officer, Banking & Financing, Operational Control, and Compensation & Incentive Plans.

CFO Series Valuation, Acquisitions, Capital Projects and Leveraged Buyouts (CFOSV)

CFO Series Financial Statement and Cash Flow Forecasting and Modeling (CFOSF)

May 24 | 8 am - 4 pm WSCPA, Bellevue

April 19 | 8 am - 4 pm WSCPA, Bellevue

Get the tools necessary to analyze the financial implications of strategic business decisions, including acquisitions, expansion plans, leveraged buyouts, and recaps.

Are you responsible for planning and financing the working capital and long-term capital requirements for your organization?

Receive a disk containing copies of all financial models reviewed during the class. Use the models as a reference or modify and use them to analyze strategic alternatives.

This course will help you gain the knowledge and tools necessary to develop and analyze financial models to forecast a company’s long-term financial condition and short-term cash flow requirements.

WashingtonCPA January/February 2013

27

Conferences

Register at www.wscpa.org or page 38

Have you attended a WSCPA Conference lately?

Scan these codes to view videos from two recent conferences.

CONFERENCES www.wscpa.org/conferences Save these dates!

Governmental Accounting & Auditing Conference

Pacific Tax Institute

Standards Guidance

Not-For-Profit

April 29-30 Courtyard Marriott Tacoma Live Video Conferences: Spokane | Everett

Trends

Code: GAAC

Healthcare

Accounting Finance

CONFERENCE Code: HCC

Spring Tax CONFERENCE Code: STC

28

WashingtonCPA January/February 2013

May 17 Meydenbauer Center, Bellevue

Internal Audit

State Tax

NEW International Tax

May 21 Bell Harbor International Convention Center, Seattle The Washington State Tax and International Tax Conferences are now together in one conference!

www.wscpa.org

Register at www.wscpa.org or page 38

Women’s Leadership

CPE DIgest

Inspiring Speakers Practical Tools

SUMMIT

JUNE 21 Bell Harbor International Convention Center, Seattle

Local Leaders Code: WLS

Business & Management CONFERENCE

Finance

NEW

Leadership

Technology Code: BAM

JUNE 28 Meydenbauer Center, Bellevue Introducing the premiere CPE event of the year for CPAs in Business & Management Save the date.Watch for details.

Get ready for BAM!

2012 In-house Training Clients: Berntson Porter & Company LLC The Boeing Company City of Seattle Clark Nuber P.S. Clark Raymond & Company, PLLC DaVita Dwyer Pemberton Coulson PC Group Health Hyatt Regency www.wscpa.org

Johnson & Shute, P.S. Larson Gross PLLC Leffel, Otis & Warwick, P.S. Microsoft Corporation Peterson Sullivan LLP PWC Sweeney Conrad, P.S. Voldal Wartelle & Co., P.S. VSH

In-house Training Miki McLean (425) 586-1136 ct@wscpa.org www.wscpa.org/cpe

WashingtonCPA January/February 2013

29

Register at www.wscpa.org or page 38

CPE DIgest

NEW CPE

events by location WSCPA education and events scheduled for January-May, 2013 are listed below, chronologically by location. If you are looking for a program in another location, it may be scheduled for later in the year. Using the online CPE/Event Catalog at www.wscpa.org/CPE/ catalog, you can search by location.

2013 EVENT SCHEDULE To view and search the schedule of events through May 2013, visit the CPE/Event Catalog at www.wscpa.org.

LEARN MORE To view complete course details, please visit the CPE/ Event Catalog at www.wscpa.org/CPE/catalog.

events added daily to: www.wscpa.org/CPE/catalog

A&A CS EB PFP

SUBJECTS The main subject area is listed for each program.

Ethics GNP MG PD SK

Need help finding a seminar or webcast?

Call (800) 272-8273 or (425) 644-4800.

TAX TEC

Fees

Date

CPE Credits

#

Course

Type

WSCPA NonAICPA Code Member Member Member For more details, Discount Fee Fee search by code at www.wscpa.org/cpe

Facility

Accounting and Auditing Consulting Services Employee Benefits Estate/Financial Planning Ethics Government / NFP Management Personal Development Specialized Knowledge Taxation Technology

Ø

Subject

Bellevue Jan 7

8

Advanced Excel, 8am-4pm

COMEX03

250

325

WSCPA

TEC

Jan 8

8

Introduction to QuickBooks for the Accounting Professional, 8am-4pm

COMQB102

250

325

WSCPA

TEC

Jan 9

8

Excel Pivot Tables, 8am-4pm

COMEXP03

250

325

WSCPA

TEC

Jan 10

8

The Complete Guide to the Preparation of Form 1041, 8am-4pm

CG1041

285

360

WSCPA

TAX

ç Jan 11

8

The Complete Guide to Preparing Forms 706 and 709, 8am-4pm

706X

285

360

WSCPA

TAX

Jan 14

8

Preparing Individual Tax Returns for New Staff and Para-Professionals, 8am-4pm

PITR

295

370

WSCPA

TAX

Jan 15

8

The Complete Guide to Preparing Limited Liability Company, Partnership, and S Corporation Federal Income Tax Returns, 8am-4pm

PLPS

295

370

WSCPA

TAX

ç Jan 16

4

New Medicine: Key Issues CPAs Need to Know About the Patient Protection and Affordable Care Act, 8-11:30am

NMED401

150

185

WSCPA

SK

ç Jan 16

4

Should Client Expenditures be Capitalized or Expensed? A Guide to the New IRS Regulations, 12:30-4pm

CPE401

150

185

WSCPA

TAX

CHBA05

30

35

Red Lion Bellevue Inn

PFP

Jan 17

1.5

Jan 22

8

Andy Biebl’s Tax Advisor’s Update, 8am-4pm

BTAU03

335

410

Meydenbauer Center

TAX

Jan 23

8

GAAP Update and Review for Small and Medium-Sized Entities (SMEs) by Walter Haig, 8am-4pm

GURSME05

305

380

WSCPA

A&A

Jan 24

8

Compilation and Review Standards Update and Review by Walter Haig, 8am-4pm

CRUR06

305

380

WSCPA

A&A

Jan 25

8

Auditing Standards Update and Review by Walter Haig, 8am-4pm

AUUR02

305

380

WSCPA

A&A

Jan 25

8

LOCATION CHANGE AICPA’s Annual Federal Tax Update (not Andy Biebl course), 8am-4pm

PTU

285

360

Courtyard Marriott Bellevue

TAX

Feb 11

8

More QuickBooks for the Accounting Professional, 8am-4pm

COMQB202

250

325

WSCPA

TEC

Feb 12

8

Analytical Review Procedures Using Excel, 8am-4pm

COMEXAR

250

325

WSCPA

TEC

Feb 13

8

Word Tips, Tricks & Techniques, 8am-4pm

COMWT02

250

325

WSCPA

TEC

Feb 14

8

Introduction To Excel Visual Basic Macros, 8am-4pm

COMEXV02

250

325

WSCPA

TEC

Feb 15

8

Crystal Reports Introduction, 8am-4pm

COMCR1

250

325

WSCPA

TEC

Feb 20

4

Washington CPA Regulatory Ethics for Accountants by James Rigos (WA State Requirement), 8-11:30am

CENRW413

185

220

WSCPA

Ethics

Feb 21

1.5

CHBA06

30

35

Red Lion Bellevue Inn

SK

APMP401

150

185

WSCPA

SK

ç Mar 12

30

C

S Estate Planning, 7:30-9am l

E

S Economic Update, 7:30-9am l

4

ç Mar 12

4

Mar 13

8

Applying Project Management Principles to Increase Speed and Reduce Costs on Short and Long Term Projects, 8-11:30am ç

-30

Staying Healthy, Balanced and Stress Free, 12:30-4pm

SHBS401

150

185

WSCPA

PD

Charting with Excel, 8am-4pm

COMEXC

250

325

WSCPA

TEC

ç Mar 13

4

ç

Accelerated Time Management - Doing Twice as Much in Half the Time, 8-11:30am

ATM401

150

185

WSCPA

PD

Mar 13

4

ç

Maintaining Positive Workplace Attitudes, 12:30-4pm

MPWA401

150

185

WSCPA

PD

Mar 14

8

Crystal Reports Intermediate, 8am-4pm

COMCR2

250

325

WSCPA

TEC

WashingtonCPA January/February 2013

www.wscpa.org

Register at www.wscpa.org/CPE/catalog or page 38

Education and events Fees

Date

CPE Credits

#

Course

Type

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

For more details, search by code at www.wscpa.org/cpe

Mar 15

8

Excel Pivot Tables, 8am-4pm

COMEXP04

250

325

WSCPA

TEC

Mar 15

8

CFO Series - Bank Financing and Financial Statement Analysis, 8am-4pm

CFOSB

285

360

WSCPA

MG

Mar 18

4

Washington CPA Regulatory Ethics for Accountants by James Rigos (WA State Requirement), 8-11:30am

CENRW414

185

220

WSCPA

Ethics

Mar 18

4

Professional Conduct and Ethics for CPAs and CMAs in Business and Industry (Not WA Ethics Compliant), 12:30-4pm

PCE401

140

175

WSCPA

MG

Mar 21

4

Essential Skills for the Survival and Growth of Your Organization, 8-11:30am

CL4SGYC

150

185

WSCPA

MG

Mar 21

4

Controller’s Update: Latest Trends for Today’s Financial Manager, 12:30-4pm

CL4SKSB

150

185

WSCPA

MG

Mar 21

1.5

CHBA07

30

35

Red Lion Bellevue Inn

A&A

E

S Fraud Discussion, 7:30-9am l

ç Mar 22

4

Expand Your Value-Adding Skills: Uncovering the CPAs Worth to the Organization, 8-11:30am

CL4ERI

150

185

WSCPA

MG

Mar 22

4

Lean Accounting: Transforming Your Accounting Function for Maximum Performance, 12:30-4pm

CL4SUAF

150

185

WSCPA

MG

ç Mar 25

4

Simplify Your Strategic Planning Process: Useful Tips and How-To Guidance, 8-11:30am

CL4SPPC

150

185

WSCPA

MG

ç Mar 25

4

Real-World Solutions to Tricky Issues Facing Today’s Financial Professional, 12:304pm

CL4TIFP

150

185

WSCPA

MG

ç Mar 26

4

COSO Internal Control: One-Size Does Fit All, 8-11:30am

CL4ICDAD

150

185

WSCPA

A&A

ç Mar 26

4

The Art of Fraud: Recent Findings, Red Flags and Corruption Schemes, 12:30-4pm

CL4TAOF

150

185

WSCPA

A&A

Mar 27

4

OneNote 2010 Essential Training with Sandy Rylander, 8-11:30am

ONET402

140

175

WSCPA

TEC

Mar 27

4

Word Tips and Tricks with Sandy Rylander, 12:30-4pm

WTT402

140

175

WSCPA

TEC

Apr 17

8

Business Law Refresher: What Every Financial Manager Should Know, 8am-4pm

BLR03

285

360

WSCPA

MG

Apr 18

1.5

CHBA08

30

35

Red Lion Bellevue Inn

A&A

Apr 19

8

CFO Series - Financial Statement and Cash Flow Forecasting and Modeling, 8am4pm

CFOSF

285

360

WSCPA

A&A

Apr 22

8

AICPA’s Annual Update for Controllers, 8am-4pm

SKSB02

285

360

WSCPA

A&A

S The Value of Internal Control Compliance, 7:30-9am l

-30

Apr 22

8

Chief Financial Officer: Executive Level Skills for Financial Managers, 8am-4pm

CFO01

285

360

WSCPA

MG

Apr 23

8

Excel Budgeting and Forecasting Techniques, 8am-4pm

EBT

285

360

WSCPA

TEC

Apr 24

8

Technology for CPAs: Don’t Get Left Behind, 8am-4pm

TEC02

285

360

WSCPA

TEC

ç Apr 25

8

Cloud Computing, 8am-4pm

CLC02

285

360

WSCPA

TEC

Apr 29

4

IPad - The Beginner’s Guide to Setting Up and Using an iPad, 8-11:30am

IPADB401

140

175

WSCPA

TEC

Apr 29

4

IPad - Advanced Configuration Settings and Content Management, 12:30-4pm

IPADA401

140

175

WSCPA

TEC

Apr 30

4

IPad - Review of Powerful Business Apps to Maximize Your iPad’s Value, 8-11:30am

IPADR401

140

175

WSCPA

TEC

Apr 30

4

Using the iPad and the Cloud to Manage Your Documents On the Go, 12:30-4pm

IPADC401

140

175

WSCPA

TEC

May 1

8

Y

Audits of 403(b) Plans: A Challenging New Audit Area, 8am-4pm

FOTB

285

360

-30

WSCPA

A&A

May 6

8

Y

Identifying Fraudulent Financial Transactions, 8am-4pm

FEFFT

285

360

-30

WSCPA

A&A

May 7

8

Y

Statement of Cash Flows: Preparation, Presentation and Use, 8am-4pm

FCFS02

285

360

-30

WSCPA

A&A

May 8

8

Y

FASB Review: Common GAAP Issues Impacting All CPAs, 8am-4pm

FRU02

285

360

-30

WSCPA

A&A

May 9

8

Y

Internal Control Deficiencies: Assessment and Reporting Under SAS 115, 8am4pm

ICDAR02

285

360

-30

WSCPA

A&A

ç May 13

8

CFO/Controller’s Roadmap to Organization Success with Integrated Planning, Forecasting and Budgeting, 8am-4pm

PLFP

295

370

WSCPA

TAX

May 14

8

Current Developments and Best Practices for Today’s CFO and Controllers, 8am-4pm

TFCO

295

370

WSCPA

TAX

ç May 15

8

Y

Advanced Employee Benefit Plan Topics, 8am-4pm

AEMP

285

360

-30

WSCPA

A&A

May 16

8

Y

Revenue Recognition: Getting the New Standard Right, 8am-4pm

-30

May 16

1.5

May 20

8

May 21

8

May 21

8

May 22

8

Word Tips, Tricks & Techniques, 8am-4pm

RRNS02

285

360

WSCPA

A&A

CHBA09

30

35

Red Lion Bellevue Inn

A&A

Excel Functions, Tips, Tricks & Techniques, 8am-4pm

COMEXF03

250

325

WSCPA

TEC

Healthcare Conference, 8am-4:20pm

HCC

TBA

TBA

Meydenbauer Center

Excel Pivot Tables, 8am-4pm

COMEXP05

250

325

WSCPA

TEC

COMWT03

250

325

WSCPA

TEC

S State and Local Taxes, 7:30-9am l



ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

www.wscpa.org

SK

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA January/February 2013

31

Register at www.wscpa.org/CPE/catalog or page 38

Education and events

Fees

Date

CPE Credits

#

Course

Type

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

For more details, search by code at www.wscpa.org/cpe

Subject

May 23

8

Importing & Exporting Data with QuickBooks, 8am-4pm

COMQBIED

250

325

WSCPA

TEC

May 24

8

Using Outlook as a Personal Information Manager, 8am-4pm

COMOUT

250

325

WSCPA

TEC

May 24

8

CFO Series - Valuation, Acquisitions, Capital Projects and Leveraged Buyouts, 8am-4pm

CFOSV

285

360

WSCPA

MG

May 30

8

Compilation and Review Standards Update and Review by Walter Haig, 8am-4pm

CRUR08

305

380

WSCPA

A&A

May 31

8

GAAP and OCBOAs for Small and Medium-Sized Entities Update and Review, 8am-4pm

GOSME02

305

380

WSCPA

A&A

Business and Management Conference, 8am-4:20pm

BAM

TBA

TBA

Meydenbauer Center

MG

CHSN02

25

25

Everett Golf & Country Club

TAX

ç Jun 28

8



Jan 8

2

S Federal Tax Update & Healthcare Reform: How Will Current Legislation Affect You l and Your Clients? 7:30am-9:30am

Apr 29-30

16  Governmental Accounting and Auditing Live Video Conference, 8am-4pm

GAAC3

TBA

TBA

University Ctr - Everett Community College

GNP

Jun 11

2

6 Life Insurance 101: Demystifying the Options and Business Continuity: How to S Protect Your Business and Prevent Data Loss, 7:30am-9:30am l

CHSN01

25

25

Everett Golf & Country Club

SK

Jan 17

1

S Federal Tax Update, 7:30-9am l

CHSK07

25

25

Golden Steer Restaurant

TAX

Apr 18

1

S Hot Washington Tax Developments, 7:30-9am l

CHSK10

25

25

Golden Steer Restaurant

TAX

Apr 18

1

S Hot Washington Tax Development, 8-9am l

CHSK13

25

25

Golden Steer Restaurant

TAX

May 16

1

S Retirement Planning, The Basics and Beyond, 7:30-9am l

CHSK11

25

25

Golden Steer Restaurant

PFP

Jun 20

1

S Future of Accounting Technology, 7:30-9am l

CHSK01

25

25

Golden Steer Restaurant

TEC

Jan 16

2

S Federal Income Tax Update, 7-9am l

CHSV06

25

25

Brown Bag Cafe

TAX

Feb 20

2

S Estate Planning Update, 7-9am l

CHSV07

25

25

Brown Bag Cafe

PFP

Mar 20

2

S New Washington Tax Developments, 7-9am l

CHSV08

25

25

Brown Bag Cafe

TAX

May 15

2

S Integrating Sustainability in CAPEX Decisions, 7-9am l

CHSV09

25

25

Brown Bag Cafe

SK

Jun 19

2

S Fraud: An Ounce of Prevention is Worth a Pound of Cure, 7-9am l

CHSV01

25

25

Brown Bag Cafe

A&A

Jan 2

1

S What’s Next? Federal Tax Update, 12-1pm l

CHOM08

25

25

Indian Summer Golf

TAX

Feb 6

2

S Hot Washington State Tax Developments and State Tax Nexus: Scarier Than You l Think! 12-2pm

CHOM06

40

40

Indian Summer Golf

TAX

Mar 6

2

S IFRS: The Basics, Part 1 and 2, 11:45am-1:45pm l

CHOM09

40

40

Indian Summer Golf

A&A

May 1

1

S Following the Money: Fraud, 12-1pm l

CHOM010

25

25

Indian Summer Golf

A&A

Accounting and Reporting Standards Annual Update and Review by Walter Haig, 8am-4pm

ARSUR04

525

640

Harborside Inn

A&A

Andy Biebl’s Tax Advisor’s Update, 8am-4pm

BTAU02

335

410

Bell Harbor Intl Conf Ctr

TAX

Spring Tax Conference (formerly Washington State Tax Conference and International Tax Conference)

STC

TBA

TBA

Bell Harbor Intl Conf Ctr

TAX

WLS

TBA

TBA

Bell Harbor Intl Conf Ctr

MG

Everett

Kent

Kirkland

Olympia

Port Townsend May 16-17

16

Seattle Jan 21

8

ç May 21 Jun 21

8



8

 Women’s Leadership Summit, 8am-4:15pm 6

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

32

WashingtonCPA January/February 2013

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Register at www.wscpa.org/CPE/catalog or page 38

Education and events Fees

Date

CPE Credits

#

Course

Type

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

CHSP03

50

50

The Spokane Club

For more details, search by code at www.wscpa.org/cpe

Subject

Spokane Jan 9

2

S 2013 Economic Forecast, 12-2pm l

SK

Jan 23

8

Andy Biebl’s Tax Advisor’s Update, 8am-4pm

BTAU01

335

410

Mirabeau Park Hotel

TAX

Apr 16

8

Business Law Refresher: What Every Financial Manager Should Know, 8am-4pm

BLR02

285

360

Hampton Inn Spokane

MG

Apr 23

8

Chief Financial Officer: Executive Level Skills for Financial Managers, 8am-4pm

CFO02

285

360

Hampton Inn Spokane

MG

Apr 29-30

16  Governmental Accounting and Auditing Live Video Conference, 8am-4pm

GAAC2

TBA

TBA

NE Washington Educational Service District 101

GNP

May 28

8

Compilation and Review Standards Update and Review by Walter Haig, 8am-4pm

CRUR07

305

380

Hampton Inn Spokane

A&A

May 29

8

GAAP and OCBOAs for Small and Medium-Sized Entities Update and Review, 8am-4pm

GOSME01

305

380

Hampton Inn Spokane

A&A

16  Governmental Accounting and Auditing Conference, 8am-4pm

GAAC

TBA

TBA

Courtyard Marriott Tacoma

GNP

2

CHYK05

25

25

Howard Johnson Plaza

Tacoma Apr 29-30 Yakima Jan 8

6 Education in the Yakima Valley, 7:30am-9:30am S l

SK

Your Desk - Webcasts and Webinars Jan 3

8

WEBCAST 2012 Annual Tax Update, 7am-3pm

WEB397

195

245

Webcast

TAX

Jan 4

8

WEBCAST Social Security Benefits: Advising Clients, 8:30am-4:30pm

WEB206

255

295

Webcast

PFP

Jan 7

4

WEBCAST A-133 Audits - How Can I Do it Better? An Auditor’s Perspective for Auditors and Auditees, 8am-12pm

WEB209

129

159

Webcast

A&A

Jan 7

4

WEBCAST A-133 Audits - What Do I Need to Know? An Auditor’s Perspective for Auditors and Auditees, 12-4pm

WEB210

129

159

Webcast

A&A

Jan 7

8

WEBCAST 2012 Business Fraud Update, 7am-3pm

WEB211

195

245

Webcast

A&A

Jan 7

2

WEBCAST Estate, Financial, and Income Tax Planning for the Non-Traditional Client, 3-5pm

WEB387

79

109

Webcast

TAX

Jan 7

8

WEBCAST Introduction to International Taxation, 8:30am-4:30pm

WEB208

255

295

Webcast

TAX

ç Jan 7

2

WEBINAR Financial Analysis in a Metrics Driven World, 11am-1pm

WNR285

79

94

Webinar

A&A

Jan 8

4

WEBCAST Yellow Book Audits - What You Need to Know, 8am-12pm

WEB213

129

159

Webcast

GNP

Jan 8

4

Y

WEBCAST Hud Audits – What You Need to Know, 12-4pm

WEB214

129

159

Webcast

A&A

Jan 8

8

WEBCAST CPA’s Guide To Tax Planning For Debt Cancellation And Restructuring, 7am-3pm

WEB215

195

245

Webcast

TAX

Jan 8

8

WEBCAST Deal Structure for Mergers and Acquisitions Transactions, 8:30am4:30pm

WEB212

255

295

Webcast

TAX

Jan 9

8

WEBCAST Small Business Entity Tax Forms Workshop, 7am-3pm

WEB388

195

245

Webcast

TAX

Jan 9

8

WEBCAST Finding and Evaluating Frauds: A Case Study Approach, 8:30am-4:30pm

WEB217

255

295

Webcast

A&A

Jan 9

8

WEBCAST Tax Research Skills, 8:30am-4:30pm

WEB219

255

295

Webcast

TAX

Jan 9

8

WEBCAST The Art of High-End Estate Planning, 8:30am-4:30pm

WEB216

255

295

Webcast

PFP

ç Jan 9

8

WEBCAST Medical Finances: Enhancing Your Value to a Medical Practice, 8:30am4:30pm

WEB218

255

295

Webcast

SK

Jan 9

2

WEBINAR Outlook Part 1 - E-Mail Management Tips and Techniques (Basic), 8-10am

WNR286

79

94

Webinar

TEC

Jan 9

2

WEBINAR Outlook Part 2 - E-Mail Management Tips and Techniques (Advanced), 11am-1pm

WNR287

79

94

Webinar

TEC

Jan 10

8

WEBCAST 2012 Compilation & Review Update, 7am-3pm

WEB221

195

245

Webcast

A&A

Jan 10

2

WEBCAST SSAE16 The New Standard for Service Organization Reporting, 9-11am

WEB226

79

109

Webcast

A&A

ç Jan 10

8

WEBCAST The Basics of Filing an Offer in Compromise, 8:30am-4:30pm

WEB220

255

295

Webcast

TAX

Jan 10

2

WEBINAR Everything You Need to Know About iOS 6 for Your iPad and iPhone, 11am-1pm

WNR288

79

94

Webinar

TEC

Jan 10

2

WEBINAR Outlook Part 3 - Calendar & Contact Management Tips & Techniques, 11am-1pm

WNR289

79

94

Webinar

TEC

Jan 11

4

WEBCAST Washington CPA Ethics and New Developments (A WA Requirement), 8am-12pm

WEB224

164

194

Webcast

Ethics

E

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA January/February 2013

33

Register at www.wscpa.org/CPE/catalog or page 38

Education and events

Fees

Date

CPE Credits

#

Course

Type

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

For more details, search by code at www.wscpa.org/cpe

Subject

Jan 11

4

WEBCAST Washington Sales Tax and New Developments, 12-4pm

WEB225

129

159

Webcast

TAX

Jan 11

8

WEBCAST Gift & Estate Tax Forms Workshop, 11am-7pm

WEB398

195

245

Webcast

TAX

Jan 11

8

WEBCAST Subtrust Funding Workshop, 8:30am-4:30pm

WEB222

255

295

Webcast

PFP

ç Jan 11

2

WEBINAR Year-End Tax Legislation Update, 11am-1pm

WNR290

79

94

Webinar

TAX

Jan 12

2

WEBCAST-SATURDAY Interviewing and Interrogation, 7-9am

SWEB070

79

109

Webcast

A&A

Jan 14

8

WEBCAST 2012 Not-For-Profit Accounting, Auditing And Tax Update, 7am-3pm

WEB227

195

245

Webcast

GNP

Jan 15

8

WEBCAST 2012 Governmental Accounting And Auditing Update, 7am-3pm

WEB389

195

245

Webcast

GNP

Jan 15

2

WEBCAST Creating the Best Projections You Can, 4-6pm

WEB399

79

94

Webinar

MG

Jan 15

8

WEBCAST AICPA Guide to Business Combinations, Goodwill and Other Consolidation Issues, 8:30am-4:30pm

WEB228

255

295

Webcast

A&A

ç Jan 15

8

WEBCAST Revenue: Past, Present, and Future, 8:30am-4:30pm

WEB229

255

295

Webcast

A&A

Jan 16

2

WEBCAST Budget Basics - Myths of Budgeting and How to Overcome Them! (1 of 6 of the Budgeting Series), 8-10am

WEB231

79

109

Webcast

MG

Jan 16

3

WEBCAST Budget Priorities - How Reality-Based Budgeting Really Works! (2 of 6 of the Budgeting Series), 11am-2pm

WEB232

99

129

Webcast

MG

Jan 16

3

WEBCAST Budget Accountability - How to Ensure Accountability Gets Embedded in Your Budget Process! (3 of 6 of the Budgeting Series), 2-5pm

WEB233

99

129

Webcast

MG

Jan 16

8

WEBCAST 2012 FASB and AICPA Update, 8:30am-4:30pm

WEB230

255

295

Webcast

A&A

Jan 16

2

WEBINAR Client Portals - How to Develop a Strategic Model, 11am-1pm

WNR291

79

94

Webinar

TEC

Jan 17

3

WEBCAST Revenue Budgeting - How to Get Your Revenue Forecast RIGHT the First Time! (4 of 6 of the Budgeting Series), 8-11am

WEB235

99

129

Webcast

MG

Jan 17

2

WEBCAST Expense and Cost Budgeting - How to Replace Fat with Reality in Your Expense Budget! (5 of 6 of the Budgeting Series), 11am-1pm

WEB236

79

109

Webcast

MG

Jan 17

2

WEBCAST Capital Budgeting - How to Make Every Capital Dollar Provide Value!

(6 of 6 of the Budgeting Series), 1-3pm

WEB237

79

109

Webcast

MG

Jan 17

8

WEBCAST 2012 Accounting & Auditing Update, 7am-3pm

WEB390

195

245

Webcast

A&A

Jan 17

8

WEBCAST Federal Tax Update: C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065), 8:30am-4:30pm

WEB234

255

295

Webcast

TAX

Jan 18

8

WEBCAST Disclosure: The Key to Financial Statements, 8:30am-4:30pm

WEB238

255

295

Webcast

A&A

Jan 18

2

WEBINAR PowerPoint Level 1 - Creating Professional Presentations, 8-10am

WNR292

79

94

Webinar

TEC

Jan 18

2

WEBINAR PowerPoint Level 2 - Advanced Presentation Design, 11am-1pm

WNR293

79

94

Webinar

TEC

Jan 21

8

WEBCAST Tax Planning and Compliance for Multinational Families, 8:30am4:30pm

WEB239

255

295

Webcast

TAX

Y

ç Jan 21

2

WEBINAR Fraud and Abuse: A Comprehensive Control System, 11am-1pm

WNR294

79

94

Webinar

A&A

ç Jan 21

2

WEBINAR Fraud: The 10 Biggest Risks for 2012, 8-10am

WNR295

79

94

Webinar

A&A

Jan 22

8

WEBCAST Andy Biebl’s Tax Advisor’s Update, 8am-4pm

WEBBTAU

305

380

Webcast

TAX

Jan 22

8

WEBCAST FIN 48: Accounting for Uncertain Tax Positions (ASC Topic 740.10), 8:30am-4:30pm

WEB240

255

295

Webcast

A&A

Jan 22

8

WEBCAST Dealing with Venture Capitalists, 8:30am-4:30pm

WEB241

255

295

Webcast

SK

Jan 22

2

WEBINAR Excel - Tips for Eliminating Errors from Your Spreadsheets, 11am-1pm

WNR296

79

94

Webinar

TEC

Jan 23

8

WEBCAST Small Business Entity Tax Forms Workshop, 7am-3pm

WEB243

195

245

Webcast

TAX

Jan 23

8

WEBCAST College Financial Planning, 8:30am-4:30pm

WEB242

255

295

Webcast

SK

Jan 23

2

WEBINAR Excel - Analyze Your Data Using Pivot Tables, 11am-1pm

WNR297

79

94

Webinar

TEC

Jan 23

2

WEBINAR Excel - Financial Analysis Using Financial Functions, 8-10am

WNR298

79

94

Webinar

TEC

ç Jan 24

8

WEBCAST Key Ratio Analysis, 8:30am-4:30pm

WEB244

255

295

Webcast

A&A

Jan 24

8

WEBCAST Settled and Approved: Fiduciary Accounting from Start to Finish, 8:30am-4:30pm

WEB245

255

295

Webcast

A&A

Jan 24

2

WEBINAR Excel - Spreadsheet Design Techniques You Must Know - Part 1, 8-10am

WNR299

79

94

Webinar

TEC

Jan 24

2

WEBINAR Excel - Spreadsheet Design Techniques You Must Know - Part 2, 11am1pm

WNR300

79

94

Webinar

TEC

ç Jan 25

8

WEBCAST Corporate Finance Check-Up: Renovate Your Analytical Toolbox, 8:30am-4:30pm

WEB246

255

295

Webcast

MG

Jan 28

2

WEBCAST The CFO’s Role in Operational Control, 8-10am

WEB400

79

109

Webcast

MG

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

34

WashingtonCPA January/February 2013

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Register at www.wscpa.org/CPE/catalog or page 38

Education and events Fees

Date

CPE Credits

#

Course

Type

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

For more details, search by code at www.wscpa.org/cpe

Subject

ç Jan 28

8

WEBCAST Federal Tax Appeals and Alternative Dispute Resolution, 8:30am4:30pm

WEB247

255

295

Webcast

TAX

Jan 29

2

WEBCAST Auditing for Fraud, 9-11am

WEB391

79

109

Webcast

A&A

Jan 29

2

WEBCAST Interviewing and Interrogation, 11am-1pm

WEB392

79

109

Webcast

A&A

Jan 29

2

WEBINAR 2012 Tax Season Update for Business, 11am-1pm

WNR301

79

94

Webinar

TAX

Jan 29

2

WEBINAR 2012 Tax Season Update for Individuals, 8-10am

WNR302

79

94

Webinar

TAX

Jan 30

2

WEBINAR Adobe Acrobat for Accountants I - Basic Features & Functions, 8-10am

WNR303

79

94

Webinar

TEC

Jan 30

2

WEBINAR Adobe Acrobat for Accountants II - Advanced Features & Functions, 11am-1pm

WNR304

79

94

Webinar

TEC

Jan 31

4

WEBCAST 2012 Banking Financial And Compliance Update Series - Fourth Quarter Update, 8am-12pm

WEB393

129

159

Webcast

SK

Jan 31

2

WEBINAR Adobe Acrobat for Accountants III - Tips & Techniques for the Experienced User, 8-10am

WNR305

79

94

Webinar

TEC

Jan 31

2

WEBINAR Excel - Best Practices for Printing and Formatting Your Spreadsheets, 11am-1pm

WNR306

79

94

Webinar

TEC

Feb 1

8

WEBCAST Essential Documentation and Review of Working Papers, 8:30am4:30pm

WEB249

255

295

Webcast

A&A

ç Feb 1

8

WEBCAST Accounting Fraud, 8:30am-4:30pm

WEB248

255

295

Webcast

A&A

Feb 1

2

WEBINAR Travel & Entertainment Expenses: Review & Update, 11am-1pm

WNR307

79

94

Webinar

TAX

ç Feb 4

2

WEBINAR Fraud and Abuse in Government Entities, 8-10am

WNR308

79

94

Webinar

A&A

ç Feb 4

2

WEBINAR Fraud and Abuse in Nonprofits, 11am-1pm

WNR309

79

94

Webinar

A&A

Feb 5

8

WEBCAST Pension and Profit-Sharing Plan Strategies, 8:30am-4:30pm

WEB250

255

295

Webcast

PFP

ç Feb 6

2

WEBINAR Key Tax Issues for Industry - Implementing Health Care Reform, 11am-1pm

WNR310

79

94

Webinar

TAX

Feb 7

8

WEBCAST IFRS and Business Combinations and Consolidations, 8:30am-4:30pm

WEB251

255

295

Webcast

A&A

Feb 8

8

WEBCAST Reporting Under IFRS: Nonfinancial Assets, 8:30am-4:30pm

WEB252

255

295

Webcast

A&A

Feb 8

2

WEBINAR Cloud Computing: Taking Your IT Strategy to the Next Level, 8-10am

WNR311

79

94

Webinar

TEC

Feb 8

2

WEBINAR Repairs to Tangible Property - Capitalize or Expense? 7-9am

WNR312

79

94

Webinar

TAX

ç Feb 8

2

WEBINAR Year-End Tax Legislation Update, 11am-1pm

WNR313

79

94

Webinar

TAX

Feb 11

2

WEBCAST Preventing Legal Issues On Construction Projects, 9-11am

WEB401

79

109

Webcast

MG

Feb 11

8

WEBCAST Advanced Tax Exempt Organization Issues, 8:30am-4:30pm

WEB254

255

295

Webcast

TAX

ç Feb 11

8

WEBCAST Fraud and the CPA Profession, 8:30am-4:30pm

WEB253

255

295

Webcast

A&A

Feb 12

2

WEBCAST Budget Basics - Myths of Budgeting and How to Overcome Them! (1 of 6 of the Budgeting Series), 8-10am

WEB257

79

109

Webcast

MG

Feb 12

3

WEBCAST Budget Priorities - How Reality-Based Budgeting Really Works! (2 of 6 of the Budgeting Series), 11am-2pm

WEB258

99

129

Webcast

MG

Feb 12

3

WEBCAST Budget Accountability - How to Ensure Accountability Gets Embedded in Your Budget Process! (3 of 6 of the Budgeting Series), 2-5pm

WEB259

99

129

Webcast

MG

Feb 12

2

WEBCAST Creating the Best Projections You Can, 7-9am

WEB402

79

94

Webinar

MG

Feb 12

8

WEBCAST Investment Planning Re-Created: New Strategies for Today’s Environment, 8:30am-4:30pm

WEB255

255

295

Webcast

SK

Feb 12

8

WEBCAST Tax Issues for Auditors & Industry Professionals, 8:30am-4:30pm

WEB256

255

295

Webcast

TAX

Feb 12

2

WEBINAR Excel - How to Build a Spreadsheet for Beginners, 11am-1pm

WNR314

79

94

Webinar

TEC

Feb 13

3

WEBCAST Revenue Budgeting - How to Get Your Revenue Forecast RIGHT the First Time! (4 of 6 of the Budgeting Series), 8-11am

WEB260

99

129

Webcast

MG

Feb 13

2

WEBCAST Expense and Cost Budgeting - How to Replace Fat with Reality in Your Expense Budget! (5 of 6 of the Budgeting Series), 11am-1pm

WEB261

79

109

Webcast

MG

Feb 13

2

WEBCAST Capital Budgeting - How to Make Every Capital Dollar Provide Value!

(6 of 6 of the Budgeting Series), 1-3pm

WEB262

79

109

Webcast

MG

Feb 13

2

WEBCAST Strategic Sourcing - Supply Chain of Excellence, 10am-12pm

WEB403

79

94

Webinar

MG

Feb 14

2

WEBCAST Risk Analysis Management, 8-10am

WEB404

79

94

Webinar

A&A

Feb 14

8

WEBCAST Cash and Credit Management, 8:30am-4:30pm

WEB263

255

295

Webcast

SK

Feb 14

2

WEBINAR Excel - Spreadsheet Design Techniques You Must Know - Part 1, 8-10am

WNR315

79

94

Webinar

TEC

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA January/February 2013

35

Register at www.wscpa.org/CPE/catalog or page 38

Education and events

Fees

Date

CPE Credits

#

Course

Type

Code

For more details, search by code at www.wscpa.org/cpe

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Feb 14

2

WEBINAR Excel - Spreadsheet Design Techniques You Must Know - Part 2, 11am1pm

WNR316

79

94

Webinar

TEC

Feb 15

8

WEBCAST GAAP Update, 8:30am-4:30pm

WEB264

255

295

Webcast

A&A

Feb 18

2

WEBINAR Closing Best Practices - Shortening Month-End, 8-10am

WNR317

79

94

Webinar

A&A

Feb 18

2

WEBINAR Fraud Alert - How Fraud Can Impact You!, 11am-1pm

WNR318

79

94

Webinar

A&A

Feb 19

2

WEBCAST Creating Competitive Advantage: Developing a Roadmap for Sustainable Performance, 7-9am

WEB405

79

109

Webcast

MG

Feb 19

2

WEBCAST Pricing for Profitability Why Cost Matters, 8-10am

WEB406

79

109

Webcast

A&A

Feb 19

2

WEBCAST Risk Analysis Management, 11am-1pm

WEB407

79

94

Webinar

A&A

Feb 19

2

WEBINAR Excel - Analyze Your Data Using Pivot Tables, 8-10am

WNR319

79

94

Webinar

TEC

Feb 19

2

WEBINAR Excel - Financial Analysis Using Financial Functions, 11am-1pm

WNR320

79

94

Webinar

TEC

Feb 20

2

WEBCAST Lean Accounting, 8-10am

WEB408

79

109

Webcast

A&A

Feb 20

2

WEBCAST Contemporary Cost Concepts Understanding Activity-Based Costing, 11am-1pm

WEB409

79

109

Webcast

A&A

Feb 20

2

WEBINAR Excel - Tips for Eliminating Errors from Your Spreadsheets, 11am-1pm

WNR321

79

94

Webinar

TEC

Feb 21

2

WEBCAST The CFO’s Role in Operational Control, 4-6pm

WEB410

79

109

Webcast

MG

Feb 21

8

WEBCAST Governmental and Nonprofit Annual Update, 8:30am-4:30pm

WEB265

255

295

Webcast

GNP

Feb 21

8

WEBCAST Small Business Internal Control, Security and Fraud Prevention and Detection, 8:30am-4:30pm

WEB266

255

295

Webcast

A&A

Feb 21

2

WEBINAR Excel - Best Practices for Printing and Formatting Your Spreadsheets, 8-10am

WNR322

79

94

Webinar

TEC

Feb 22

8

WEBCAST Dealing with Venture Capitalists, 8:30am-4:30pm

WEB267

255

295

Webcast

SK

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2

WEBINAR Preventing Legal Issues on Construction Projects, 11am-1pm

WNR323

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94

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MG

Feb 22

2

WEBINAR The Top 10 Legal Mistakes Companies Make and How to Avoid Them, 8-10am

WNR324

79

94

Webinar

MG

Feb 25

8

WEBCAST Technology for CPA Firms, 8:30am-4:30pm

WEB268

255

295

Webcast

TEC

Feb 25

2

WEBINAR 2012 Tax Season Update for Business, 11am-1pm

WNR325

79

94

Webinar

TAX

Feb 25

2

WEBINAR 2012 Tax Season Update for Individuals, 8-10am

WNR326

79

94

Webinar

TAX

Feb 26

2

WEBINAR Adobe Acrobat for Accountants I - Basic Features & Functions, 8-10am

WNR327

79

94

Webinar

TEC

Feb 26

2

WEBINAR Adobe Acrobat for Accountants II - Advanced Features & Functions, 11am-1pm

WNR328

79

94

Webinar

TEC

Feb 27

2

6 WEBINAR Communications for Financial Managers: Making Your Message Loud and Clear, 11am-1pm

WNR329

79

94

Webinar

PD

Y

Feb 28

7

WEBCAST Free Cash Flow - The Key to Shareholder Value, 8am-3pm

WEB411

195

225

Webcast

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ç Feb 28

4

WEBCAST Finance Basics for Accounting Professionals, 11am-3pm

WEB412

129

159

Webcast

MG

ç Feb 28

2

WEBINAR Fraud and Abuse: A Comprehensive Control System, 11am-1pm

WNR330

79

94

Webinar

A&A

2

WEBINAR Fraud: The 10 Biggest Risks for 2012, 8-10am

WNR331

79

94

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A&A

ç Mar 1

Feb 28

2

WEBINAR Key Tax Issues for Industry - Implementing Health Care Reform, 11am-1pm

WNR332

79

94

Webinar

TAX

Mar 4

2

WEBINAR Tax Practice Ethics: Best Practices (Not WA Ethics Compliant), 8-10am

WNR333

79

94

Webinar

TAX

ç Mar 4

2

WEBINAR Year-End Tax Legislation Update, 11am-1pm

WNR334

79

94

Webinar

TAX

Mar 5

2

WEBCAST Auditing for Fraud, 11am-1pm

WEB413

79

109

Webcast

A&A

Mar 5

2

WEBINAR Outlook Part 1 - E-Mail Management Tips and Techniques (Basic), 8-10am

WNR335

79

94

Webinar

TEC

Mar 5

2

WEBINAR Outlook Part 2 - E-Mail Management Tips and Techniques (Advanced), 11am-1pm

WNR336

79

94

Webinar

TEC

Mar 6

2

WEBINAR Outlook Part 3 - Calendar & Contact Management Tips & Techniques, 8-10am

WNR337

79

94

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TEC

ç Mar 7

8

WEBCAST Administrative Rules for Federal Grants, 8:30am-4:30pm

WEB269

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295

Webcast

GNP

Mar 7

2

WEBINAR How Is Mobile Computing Changing Business Practices Today? 11am1pm

WNR338

79

94

Webinar

TEC

ç Mar 8

2

WEBINAR Fraud and Abuse in Government Entities, 8-10am

WNR339

79

94

Webinar

A&A

ç Mar 8

2

WEBINAR Fraud and Abuse in Nonprofits, 11am-1pm

WNR340

79

94

Webinar

A&A

Mar 9

7

WEBCAST-SATURDAY Free Cash Flow - The Key to Shareholder Value, 7am-2pm

SWEB071

195

225

Webcast

SK

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

36

WashingtonCPA January/February 2013

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www.wscpa.org

Register at www.wscpa.org/CPE/catalog or page 38

Education and events Fees

Date

CPE Credits

#

Course

Type

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

For more details, search by code at www.wscpa.org/cpe

Subject

Mar 11

2

WEBCAST How Good Companies Become Great, 8-10am

WEB414

79

109

Webcast

MG

Mar 11

2

WEBCAST Change Management: Making Improvement Happen, 10am-12pm

WEB415

79

109

Webcast

MG

Mar 11

2

WEBCAST Strategic Sourcing - Supply Chain of Excellence, 12-2pm

WEB416

79

94

Webinar

MG

ç Mar 11

8

WEBCAST Leases: Past, Present and Future, 8:30am-4:30pm

WEB270

255

295

Webcast

A&A

Mar 11

2

WEBINAR Repairs to Tangible Property - Capitalize or Expense? 11am-1pm

WNR341

79

94

Webinar

TAX

Mar 11

2

WEBINAR Travel & Entertainment Expenses: Review & Update, 8-10am

WNR342

79

94

Webinar

TAX

Mar 12

2

WEBCAST The Five Acquisition Questions: What They Are, Why They Matter and How To Answer Them, 2-4pm

WEB417

79

109

Webcast

MG

Mar 12

8

WEBCAST IFRS and Financial Reporting, 8:30am-4:30pm

WEB271

255

295

Webcast

A&A

Mar 13

2

WEBCAST The CFO’s Role in Operational Control, 6-8am

WEB418

79

109

Webcast

MG

Mar 13

2

WEBCAST Pricing for Profitability - Why Cost Matters, 10am-12pm

WEB419

79

109

Webcast

A&A

Mar 13

2

WEBCAST The CFO’s Role in Banking and Financing, 2-4pm

WEB420

79

109

Webcast

MG

Mar 14

2

WEBINAR PowerPoint Level 1 - Creating Professional Presentations, 8-10am

WNR343

79

94

Webinar

TEC TEC

Mar 14

2

WEBINAR PowerPoint Level 2 - Advanced Presentation Design, 11am-1pm

WNR344

79

94

Webinar

ç Mar 15

8

WEBCAST Cost Reduction Strategies, 8:30am-4:30pm

WEB272

255

295

Webcast

MG

ç Mar 18

2

WEBCAST Recognizing Sham Transactions, 8-10am

WEB421

79

109

Webcast

A&A

Mar 19

8

WEBCAST Basic Concepts of Governmental Accounting, Financial Reporting and Auditing, 8:30am-4:30pm

WEB273

255

295

Webcast

GNP

Mar 19

2

WEBINAR Excel - How to Build a Spreadsheet for Beginners, 8-10am

WNR345

79

94

Webinar

TEC

Mar 20

8

WEBCAST Tax Issues for Auditors & Industry Professionals, 8:30am-4:30pm

WEB274

255

295

Webcast

TAX

Mar 21

2

WEBCAST The CFO’s Role in Banking and Financing, 8-10am

WEB422

79

109

Webcast

MG

Mar 21

2

WEBINAR Excel - Tips for Eliminating Errors from Your Spreadsheets, 11am-1pm

WNR346

79

94

Webinar

TEC

ç Mar 22

8

WEBCAST FASB Convergence: More Changes on the Financial Reporting Horizon, 8:30am-4:30pm

WEB275

255

295

Webcast

A&A

Mar 23

2

WEBCAST-SATURDAY What Does Fraud Look Like? 11am-1pm

SWEB072

79

109

Webcast

A&A

ç Mar 25

8

WEBCAST Fraud and the CPA Profession, 8:30am-4:30pm

WEB276

255

295

Webcast

A&A

Mar 25

2

WEBINAR Fraud and Abuse: A Comprehensive Control System, 11am-1pm

WNR347

79

94

Webinar

A&A

Mar 25

2

WEBINAR Fraud: The 10 Biggest Risks for 2012, 8-10am

WNR348

79

94

Webinar

A&A

Mar 26

2

WEBINAR Excel - Financial Analysis Using Financial Functions, 8-10am

WNR349

79

94

Webinar

TEC

Mar 27

2

WEBINAR Excel - Spreadsheet Design Techniques You Must Know - Part 1, 8-10am

WNR350

79

94

Webinar

TEC

Mar 27

2

WEBINAR Excel - Spreadsheet Design Techniques You Must Know - Part 2, 11am1pm

WNR351

79

94

Webinar

TEC

Mar 28

7

WEBCAST Free Cash Flow - The Key to Shareholder Value, 7am-2pm

WEB423

195

225

Webcast

SK

ç Mar 28

2

WEBCAST The Top 10 Legal Mistakes Companies Make and How to Avoid Them, 7-9am

WEB424

79

109

Webcast

MG

Mar 28

2

WEBINAR Excel - Best Practices for Printing and Formatting Your Spreadsheets, 8-10am

WNR352

79

94

Webinar

TEC

Mar 29

8

WEBCAST Audit Standards Update: The Audit Risk Assessment Standards, 8:30am-4:30pm

WEB277

255

295

Webcast

A&A

Apr 18

8

WEBCAST Accounting and Auditing Update, 8:30am-4:30pm

WEB278

255

295

Webcast

A&A

Apr 19

8

WEBCAST Internal Control:Your Number-One Defense Against Errors and Fraud, 8:30am-4:30pm

WEB279

255

295

Webcast

A&A

Apr 19

8

WEBCAST Financial Reporting for Private Companies and SMEs: The Approaching Perfect Storm! 8:30am-4:30pm

WEB280

255

295

Webcast

A&A

Apr 22

4

E

WEBCAST Washington CPA Ethics and New Developments (A WA Requirement), 8-11am

WEB281

164

194

Webcast

Ethics

WEBCAST Washington Sales Tax and New Developments, 12-4pm

WEB282

129

159

Webcast

TAX

Y

WEBCAST Avoiding Problems in Conducting Single Audits, 8:30am-4:30pm

WEB283

255

295

Webcast

GNP

Y

Apr 22

4

Apr 23

8

Apr 26

8

WEBCAST Financial Statement Analysis for Managers, 8:30am-4:30pm

WEB284

255

295

Webcast

MG

ç Apr 26

8

WEBCAST Nonprofit Financial Management Critical Competencies, Knowledge and Tools, 8:30am-4:30pm

WEB285

255

295

Webcast

GNP

ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA January/February 2013

37

Register at www.wscpa.org/CPE/catalog

Registration

Register online at www.wscpa.org/CPE/catalog or: • Call (425) 644-4800 or (800) 272-8273 (toll-free in Washington) Questions? E-mail cpe@wscpa.org or call the WSCPA.

Code

Title

Date

City

Fee1

2

3

Security code _______

2

WSCPA CPE policies apply to all programs in the CPE Digest. Review the CPE policies at www.wscpa.org.

38

WashingtonCPA January/February 2013

www.wscpa.org

classified ads

Detailed advertising information is available online at www.wscpa.org. Ads are $1 per word with a minimum fee of $50. Active e-mail and web site addresses are included. Classified Ads are placed on the website for 60 days when received and in the next magazine when received by the deadline (January 25 for the March/April 2013 issue). Positions available ads are for magazine placement only. To post a job listing, visit the Career Center at www.wscpa.org.Want to list a rental or vacation property? Use the Miscellaneous category.

Contact Sharon Olene-Marander at (425) 586-1138, (800) 272-8273, Ext. 1138, or classifieds@wscpa.org for more information. All ads must be pre-paid. Find classified ads at www.wscpa.org under Newsroom.

POSITIONS AVAILABLE Nicholas Knapton, P.S. is seeking a qualified, experienced CPA to join our team. Located in Spokane, we are a growing firm with opportunities for advancement and client interaction. Nicholas Knapton, P.S. offers a variety of accounting services, including tax return preparation,attest services,business valuation services, litigation support and expert witness testifying. We are currently seeking a CPA with at least 3 years of experience in public accounting. Competitive salary offered and full benefits package available for this full time position, including paid continuing professional education, medical and retirement plan along with paid vacation and holidays. Staff is paid for all overtime worked. Qualified and interested CPAs: please send resume and list of references to EmilyWright at Nicholas Knapton, P.S., by email to emily@knapton.com, fax to (509) 838-3331, or mail to 505 W. Riverside Ave., Suite 605, Spokane,WA 99201.

Established Bellingham CPA firm is seeking a tax manager to join our team of professionals. 5+ years of tax experience required. Collaborative working environment, excellent advancement opportunities and salary and benefits package. Submit resume and cover letter to VSH, CPA’s, 2200 Rimland Drive, Suite 205, Bellingham,WA 98226,Attn: H/R OFFICE SPACE Share Kirkland Office Space with two successful CPAs. 140+ sqft private office plus reception area and kitchen. Close to I-405 entrance; walking distance to waterfront, restaurants and shops. Call John (425) 8273031 or Jim (425) 822-6022.

Available for Lease:1st floor of office building. 1,444 square feet accommodates 6-8 desks plus reception area. Recent renovation includes dedicated kitchen, ADA bathroom, large windows, air conditioning and storage. Lower Queen Anne close to Seattle Center with nearby parking and private entrance. $12.40 per square foot inclusive. View on-line/contact at LindleyPropertiesLLC.com.

MERGERS & SALES Tax and Accounting Business for Sale. Well established business for 30+ years on Whidbey Island, Ten years under current ownership. Business base is approx. 33% commercial tax and bookkeeping, 67% Federal taxes.Gross sales of approx.$200,000.Business has an established reputation for quality and customer service, good growth potential, and a qualified and experienced 3 person staff. Sale includes 1482 Sq Ft in an attractive Office Condo with prime location.This is a turnkey operation. Owner wishes to retire, and will consider financing with proper guarantees. Owner will assist with transition. Contact Timothy Austin at (425) 450-3300 or TAustin@NWTAXLAW.COM.

www.wscpa.org

PRACTICES FOR SALE

Contact Mark Hause atAccounting Practice Sales by e-mail at MARKHAUSE@CONTACTAPS. COM or call (877) 345-7722 for more information on the following practices: Grays Harbor CountyArea EnrolledAgent Practice for Sale: This enrolled agent practice is primed for growth with a good mix of income tax and write-up professional services. The firm has excellent visibility due to being located on a high traffic count street and has been in the area for a number of years. In addition,the Seller offers the ability to retain the existing location which will make the transition of clients easy. This firm is a great opportunity for any number of buyers from a business minded accountant, to a firm looking to grow a book of business or offer an up an coming young associate ownership.

Spokane CPA Firm for Sale: This well rounded CPA firm renders professional services in the areas of write-up, income tax, compilation(s), review(s), and auditing. The firm has long term relationships with most of the clients while continuing to accept new business which fuels the continuing growth of the practice. The practice has a variety of clients in all industries but does serve a number of non-profit entities in a variety of capacities.The owner seeks to retire but would be available for transition to the new owner through tax season. This practice is primed for a new owner and continued prosperity.

North Olympic Peninsula-Clallam County CPA Practice for Sale: This firm is a tax practice that many seek but few find with a significant amount of business returns coupled with the personal income tax returns that follow.

The firm has an excellent location with a high traffic count which fosters walk-in business. The perfect buyer for this practice is a financially successful CPA looking for a practice that has a solid year round income from a variety of fiscal year ends that provides a relaxed pace and good work life balance.

South Puget Sound Area-CPA Practice for Sale: This CPA practice has a broad range of clients with no concentration in one area and a broad range of services that are rendered in the areas of income tax, auditing, and financial services. The firm has a history of stability that has fostered excellent client relationships that provide consistent referrals. This firm is further enhanced by an outstanding staff that has outstanding credentials making this firm unique in its ability to provide quality professional services at all service levels to all clients. The financial advisory segment of this practice makes it an obvious advantage for any firm looking to add to their suite of professional services. Any firm with designs on expanding services, looking for expertise, along with an outstanding client list has found an opportunity that is hard to beat with this firm.

Seattle CPA interested in purchasing Seattle tax practice. I am particularly interested in serving the tax planning and preparation needs of high net worth clients in the Seattle Metro area. Have provided these services to such clients over the past few tax seasons. Please contact Gary at gjeweler@jewelerandassociates.com.

Considering Selling Your Practice? Consider all your options.We do the work. Confidential.We have buyers actively seeking practices. Call Mark Hause at (877) 345-7722 or visit our website at www.accountingpracticesales.com. Accounting Practice Sales. We make dreams happen!

Everett/Bellevue CPA andWealth Management firm seeking owners wishing to transition into retirement. We have successfully merged with other local owners allowing them to take care of their long-term client base,work part-time during the transition,offer a wider array of services to help their clients and provide retirement income to the owner. Our client base is as broad as the services we offer but we specialize in individuals and small business. Please contact the owner, Brian Evans at (425) 252-6909 or email to brian@ bauerevans.com. Please visit www.bauerevans.com and www.bondstreetwealth.com.

IBA Sells Privately Held Companies. Do you represent a client who is ready to retire or has taken a company as far as they want to or can? IBA is the Pacific Northwest’s oldest business brokerage (M&A) firm.We are professional negotiators with over 4000 completed transactions. Please contact us if we can be of assistance at (800) 218-4422 or www.ibainc.com.

VOLUNTEER POSITIONS The following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters. Learn more at www.wscpa.org (enter volunteer positions in the search box).

Communities in Schools of Puyallup Coyote Central 20179 Fremont Community Therapy Project Friends of the VA Puget Sound Fisher House Ginger’s Pet Rescue Headstrong - Support for TBI Youth Hearing Speech and Deafness Center - New Helping Link Open Arms Perinatal Services Pet Savers Relief and Education for Afghan Children Southeast Seattle Senior Center Step It Up Camp Tattered Children - New The Crisis Clinic of Thurston/Mason Counties The Mockingbird Society The Seattle Piano Institute Transitional Resources Vision Loss Connections Washington Autism Alliance & Advocacy Washington Wildlife and Recreation Coalition WithinReach - New

Join the conversation www.wscpa.org

WashingtonCPA January/February 2013

39

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GR WTH It’s what CGMA stands for.

Officially, of course, it’s Chartered Global Management Accountant.

A new designation representing accomplished professionals that drive and deliver business success, worldwide.

Find out more at cgma.org

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