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the washington

CPA

Winter 2019

Volume 62, Number 3

Beyond Accounting and Auditing GROWING AN AUDIENCE FOR YOUR EXPANDING ARRAY OF SERVICES

Cybersecurity: A Primer for Accounting and Finance Professionals How Are Our Yellow Book Engagements Changing? Imposters All Around

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11 Growing Your Audience

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CPA

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BOARD OF DIRECTORS Kirsten S. Duke Chair Amanda V. O'Rourke Vice Chair Kristine L. Lambright Treasurer Jared M. Theis Secretary Thomas G. Donaghy Immediate Past Chair Kimberly D. Scott President & CEO Dawn E. Beck Bill Reed Christina J. Gehrke Thomas J. Sulewski Mary E. Joyce Susan L. Thomson Lowel J. Krueger Ronald L. Tilden Moses S. Man David E. Trujillo Rhonda S. Powell CHAPTER BOARD CHAIRS Laurel Cohen Bellingham Area Sarah Ozanne Everett Area Writu Kakshapati Olympia Area Brittany Malidore Seattle/Bellevue Area Lisa Cushman Spokane Area Fabian Benabente Tacoma Area Anthony Adams Tri-Cities Area Ursula Perkins Vancouver Area Raquel Martinez Yakima Area

Jeanette Kebede Cory Wilmarth

Editor-in-Chief Assistant 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 four 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.

CONTENTS 4

Cybersecurity: A Primer for Accounting and Finance Professionals

6

A New Year, A New You

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How Are Our Yellow Book Engagements Changing?

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6 Tips for Marketing Yourself Outside of Traditional Financial Services

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Imposters All Around

DEPARTMENTS

Cover photo: © iStock/LuisPortugal POSTMASTER: Send address changes to The WashingtonCPA, c/o WSCPA, 902 140th Avenue NE, Bellevue, WA 98005-3480.

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Leadership Lens

23

Chapters

14

News Briefs

25

CPE Digest

18

Advocacy

30

Conferences

21

Foundation

37

Classified Ads

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Photo Album

39 Member Profile The WashingtonCPA Winter 2019

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LEADERSHIP LENS

Cybersecurity: A Primer for Accounting and Finance Professionals As the CFO of a cyber threat intelligence company, I am often asked what we as accounting and finance professionals need to know about cybersecurity. Cybersecurity is a challenge all companies and individuals face today. As an accounting and finance professional, you have the opportunity to become a trusted cybersecurity advisor within your organization and/or to your clients. It is critical for all organizations to manage cyber risks to ensure the security of their and their clients’ data. Cyberattacks are increasing in volume and sophistication worldwide. The threat landscape continues to evolve at a rapid pace, with bad actors constantly evolving their tactics, oftentimes staying one step ahead of security measures. As a result, cybersecurity can be an intimidating topic because of this complexity and rapid change. However, it is critical that we as finance and accounting professionals understand the risks so we can take appropriate measures to mitigate them. Unfortunately, in today’s world, due to our reliance on connecting our systems and devices to the Internet, it is not “if” an attack will happen but “when.”

© iStock/mattjeacock

By Kirsten Duke, CPA, CGMA

Cyberattacks are increasing in volume and sophistication worldwide. The threat landscape continues to evolve at a rapid pace, with bad actors constantly evolving their tactics, often staying one step ahead of security measures. Cybersecurity can be an intimidating topic because of this complexity and change.

What is cybersecurity? Cybersecurity, also known as information technology security, is the practice of protecting data, computers, servers, networks, and mobile devices from unauthorized access or attacks. Why is cybersecurity important to understand? Consider the costs associated with a breach or an event in which confidential data, such as credit card numbers or names and social security numbers, has been viewed or stolen by an unauthorized individual. The Equifax breach cost

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Equifax over $400 million; the Target breach cost Target over $160 million; and the Yahoo breach affected three billion user accounts and impacted the sale of Yahoo to Verizon. Most recent publications estimate the average cost of a data breach to an organization to be $3.86 million. However, more serious breaches can cost hundreds of millions of dollars, as evidenced by breaches such as Equifax and Target. Consider the risks associated with all the devices and software connected to the Internet we use every day. Most organizations are using some sort of cloud computing service – Amazon Web

Service (AWS) computers, networking services, or software such as QuickBooks Online or NetSuite, to name a few. Companies store immense amounts of sensitive data in the cloud, which can increase the potential for security vulnerabilities. Further, employees have personal mobile devices on which they store work-related email, access employer server systems, and connect to corporate networks. Mobile applications may have additional security risks, and companies must rely on their employees to make good decisions with respect to how they use their mobile devices.

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LEADERSHIP LENS

What are some common cyberattacks to be aware of? •

W-2 scams: Financial and HR professionals are tricked into divulging employee W-2s, which are subsequently used to file false tax returns for refunds. Wired money scams: Individuals are tricked into wiring money to organizations controlled by the cyberattackers. Theft of credit card information: Cyberattackers use various techniques to access credit card information or other sensitive information. Theft of login credentials: Cyberattackers steal online login information to steal services, access online banking accounts (and drain them), or for other nefarious purposes. Holding data or systems for ransom: Cyberattackers may lock up a single computer using ransomware or entire networks via a DDoS attack (details below) until a ransom is paid.

Malware is malicious software designed to inflict harm on a system and can be downloaded into systems via email attachments or from websites. Ransomware is a subcategory of malware that attackers use to lock up a target computer and demand a fee for the release of captured data. Spyware is another subcategory of malware that runs without the person’s or organization’s knowledge and can watch what actions the user takes on the computer. This can be used to steal passwords or banking credentials. Phishing exploits the “human error” factor by manipulating unsuspecting users into divulging sensitive or

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How do we protect ourselves and our organizations and advise our clients? A high percentage of successful attacks occur due to the human error factor, which means education is the first step and key to defending against attacks. Things you can do to help as an individual: •

• •

Phishing exploits the “human error” factor by manipulating users into divulging sensitive or personal information, or enticing them to click on links that download malware.

What are some of the techniques that are used for these cyberattacks? •

personal information, or enticing them to click on links that download malware. One common example is when a user receives an email that appears to be from a bank and asks the user to confirm his or her account credentials. The email may contain links that appear to go to the bank’s website, but instead directs to the threat actor’s servers, where malware is downloaded on the user’s computer. Spearphishing is a form of phishing that is generally delivered via email, targeting a specific individual, organization, or business. It may include social engineering, based on readily available information about the victim, in order to target the victim of the attack.

Vulnerability exploitation is a technique that takes advantage of bugs in software to obtain access to computer systems for malicious purposes. Distributed Denial of Service (DDoS) attack is a malicious attempt to disrupt normal traffic of a targeted server, network, or service by overwhelming the target with a flood of Internet traffic, likely using other compromised computer systems to carry out the attack.

• •

Work with your IT organization to keep all of your computers and systems patched and updated. Use a complex, alphanumeric password and, if available, use two-factor authentication. Change your passwords regularly and don’t use the same password for multiple sites. Use a password manager. Do not open emails or attachments from unfamiliar sources, even if they look official or important. Do not install or connect any personal software or hardware to your company’s network or computer systems without permission from the IT department. Do not run unexpected executable files from the Internet, even if obtained from websites you trust. Do not give data about your company or its systems or login credentials to anyone that is not authorized to have that information. Report all suspicious or unusual problems (pop-ups, pornography, ads, unusual system slowness, etc.) with your computer to your IT department. Most importantly, ensure all your employees and/or clients are trained and educated about the threats and how attacks are most commonly carried out. Ensure they know to immediately contact their IT department if they suspect their system has been compromised.

The WashingtonCPA Winter 2019

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LEADERSHIP LENS

A New Year, A New You

Does your organization and/or your client have a network security plan in place? Network security plans can be outsourced or developed in house. The first step to establishing a network security plan is to identify all sensitive information systems and assess the risk associated with each of them. Consider where confidential data such as customer information, trade secrets, and personal information of employees is stored. Next, perform an analysis to assess the security measures in place to protect the confidentiality, integrity, and availability of the identified confidential information and systems. Access levels for data or system users should be reviewed. Individuals should only have access to data or systems if it is necessary to their role. Implement an Incident Response Plan and make sure that all employees are familiar with its protocols. Security policies should be established and employees trained on those policies. Most importantly, all employees need to be educated to raise awareness of the risks associated with a cyberattack. An additional consideration is whether your organization or your client has cybersecurity insurance. There are a number of policies available to reduce the financial exposure of a cyberattack. While implementation of these measures comes at a cost, it is a drop in the proverbial bucket compared to the cost, both fiscal and reputational, of remediating a successful cyberattack. Kirsten Duke, CPA, CGMA, is Chief Financial Officer at DomainTools and 2018-2019 Chair of the WSCPA Board of Directors. You can contact her at kirsten@domaintools.com.

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Welcome to 2019! I hope that this year is full of great things and wonderful adventures for you. When I reflect back on 2018, one thing stands out. The world is continuing to change, and at times it feels overwhelming to keep up. Long-standing businesses are being disrupted and some will not survive the transition. New businesses are popping up, providing services we may not have imagined just a few years ago. At the World Economic Forum in February, Canadian Prime Minister Justin Trudeau said, “The pace of change has never been this fast, yet it will never be this slow again.” In a world where so much is happening so quickly, it is imperative as business leaders and trusted advisors that we continue to challenge ourselves, learn, and develop new skills. One of the best pieces of advice I received when I became a leader is the importance of taking time to reflect and plan. It is easy to feel overwhelmed, put your head down, and simply focus on keeping up. However, if you do not set learning and planning as a priority, all you will be able to do is keep up — and only for a short time. Technology is playing a big role and although your job, your coworkers, or even your organization may look very different soon, your personal talents and experience can make you invaluable. This new year, empower yourself. Make an appointment with yourself each week to reflect and plan. Find a mentor or become a mentor to someone else. Look at CPE as an opportunity to develop your skills in new areas. As Zig Ziglar once said, “If you are not willing to learn, no one can help you. If you are determined to learn, no one can stop you.” Become unstoppable! I look forward to all that we can do together in 2019 and beyond.

© iStock/Gajus

By Kimberly Scott, CAE

The best advice I received when I became a leader was the importance of taking time to reflect and plan. It’s easy to feel overwhelmed and simply focus on keeping up. However, if you do not make learning and planning a priority, all you will be able to do is keep up — and only for a short time. Kimberly Scott, CAE, is President & CEO of the Washington Society of CPAs, and Executive Director of the Washington CPA Foundation. You can contact her at kscott@ wscpa.org.

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YELLOW BOOK

How Are Our Yellow Book Engagements Changing? The 2018 Revision to Government Auditing Standards (GAGAS) was released in July 2018 and is effective for periods ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019. Because the Revision addresses requirements for the entire period under audit, we will want to understand what these changes are before July 1, 2019. Keep in mind that GAGAS applies to more than just audits as defined under Statements on Auditing Standards (SASs). GAGAS also applies to engagements performed under Statements on Standards for Attestation Engagements (SSAEs) and for the first time GAGAS incorporated reviews performed under Statements on Standards for Accounting and Review Services (SSARs). GAGAS refers to engagements performed under the Yellow Book as “audits” with an “auditor’s” report, which can include engagements such as agreed-upon procedure engagements and review engagements which do not include an opinion. The Revision is organized as follows: • Chapter 2: General Requirements for Complying with GAGAS • Chapter 3: Ethics, Independence, & Professional Judgement • Chapter 4: Competence & CPE Requirements • Chapter 5: Quality Control & Peer ReviewChapter 6: Financial Audits • Chapter 7: Attestations Engagements & Reviews of Financial Statements • Chapter 8-9: Fieldwork & Reporting Standards for Performance Audits Throughout the Revision, the GAO made it easy for practitioners to identify the requirements by clearly highlighting them in boxes. CPE requirements did not change from the current requirement (80 hours every two years, with at least 24 hours

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The WashingtonCPA Winter 2019

© iStock/AndreyPopov

By Laura Lindal, CPA

Independence includes both the auditor’s state of mind and the appearance of independence. While an auditor may believe they have an objective state of mind, there may be circumstances that would cause an outside party to conclude the integrity, objectivity, or professional skepticism had been comprised. each year), though there is expanded discussion regarding acceptable programs and activities that count towards the hour requirement, acceptable subject matter, exception to the 56-hour requirement (every auditor subject to the 24-hour requirement) and guidance on documenting and monitoring compliance with the CPE requirement. There is expanded discussion and additional requirements for audit organizations and firms that do not participate in recognized peer review programs. Note: The AICPA’s program, as administered by the WSCPA, is a recognized peer review program. Firms participating in the WSCPA-administered peer review program are not subject to the additional

requirements under Chapter 5. Waste and Abuse The GAO kept the five ethical principles: the public interest; integrity; objectivity; proper use of government information, resources, and positions; and professional behavior. Given the concept of accountability for use of public resources and government authority, evaluating internal control in a government environment may also include considering internal control deficiencies that result in waste or abuse. Waste is the act of using or expending resources carelessly, extravagantly, or with no purpose. Waste can include activities that do not include abuse and

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YELLOW BOOK

does not necessarily involve a violation of law. Rather, waste relates primarily to mismanagement, inappropriate actions, and inadequate oversight. Abuse is behavior that is deficient or improper when compared with behavior that a prudent person would consider reasonable and necessary business practice given the facts and circumstances. This excludes fraud and noncompliance with provisions of laws, regulations, contracts, and grant agreements. Abuse also includes misuse of authority or position for personal financial interests or those of an immediate or close family member or business associate. Because the determination of waste and abuse is subjective, auditors are not required to perform specific procedures to detect waste or abuse in financial audits. However, auditors should consider whether and how to communicate such matters if they become aware of them. Auditors who discover that waste or abuse are indicative of fraud or noncompliance with provisions of laws, regulations, contracts, and grant agreements are then required to report a finding. Still Talking About Independence Independence includes both the auditor’s state of mind and the appearance of independence. While an auditor may believe they have an objective state of mind, there may be circumstances that would cause an outside party to conclude the integrity, objectivity, or professional skepticism had been comprised. Both individual auditors and audit organizations should avoid situations that could lead reasonable and informed third parties to conclude that the auditor and/or audit organization is not capable of exercising objective and impartial judgment on all issues associated with conducting and reporting on the engagement. Auditors and audit organizations should be independent from an audited entity during any period of time that falls within the period covered by the financial statements or subject matter of the engagement and the period of the professional engagement. For example, if an auditor is reporting on financial

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statements for the calendar year 2020, the auditor and their firm (the audit organization) would need to be independent from the audited entity from January 1, 2020 through the report issuance date, most likely sometime in 2021. GAO’s Conceptual Framework approach to independence remains, but with tweaks. There is more specific guidance regarding the significance of threats, particularly when providing nonaudit services, the Yellow Book’s term for non-attest services. Remember even “reviews” and AUPs are called audits in the Yellow Book. The Conceptual Framework is a three-step process that needs to be continually revisited throughout the engagement. Audit documentation should clearly identify that the auditor considered independence throughout the engagement, including: 1. Identifying threats to independence 2. Evaluating the significance of the threats identified, both individually and in the aggregate 3. Applying safeguards to eliminate the threat or reduce them to an acceptable level Identifying Threats When identifying threats, auditors should not skip over documenting threats just because those threats are mitigated. The GAO’s seven categories of threats remain unchanged. While peer review has focused largely on the provision of non-audit services, the auditor should document their consideration of threats to independence considering each of the seven categories. Before auditors agree to provide a non-audit service to an audited entity, they should determine whether providing such a service would create a threat to independence, either by itself or in aggregate with other non-audit services provided, with respect to any GAGAS engagement they conduct. Before auditors agree to provide a non-audit service, auditors should also determine that there is a designated individual who possesses suitable skill, knowledge, or experience,

and that individual understands the services to be provided sufficiently to oversee them. Auditors should identify as threats to independence any services related to preparing accounting records and financial statements, including: •

• •

Recording transactions for which management has determined or approved the appropriate account classification, or posting coded transactions to the general ledger Preparing certain line items or sections of the financial statements based on information in the trial balance Posting entries to the trial balance that management has approved Preparing account reconciliations that identify reconciling items for management’s evaluation

Evaluating Threats Auditors must be sure to document their evaluation of threats both individually and in the aggregate. It may be that, taken individually, the threat to management participation posed by various services provided to management may be appropriately mitigated individually. However, when taken in aggregate, the appearance to an outside party may be that the objectivity or professional skepticism has been compromised. A critical factor in evaluating threats posed by non-audit services is the extent to which the outcome of the non-audit service could have a material effect on the financial statements. The Revision requires auditors to conclude that preparing financial statements from a client-provided trial balance or underlying accounting records creates significant threats to the auditor’s independence. The key to determining whether the significant threat to independence can be reduced to an acceptable level is the auditor’s consideration of management’s ability to effectively oversee the non-audit service to be provided. Although the designated individual is required to have sufficient expertise to oversee the non-audit services, they are not required to possess the expertise to perform or

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YELLOW BOOK

re-perform them. Indicators of management’s ability to effectively oversee the non-audit service include the ability to determine the reasonableness of the results of the non-audit services provided and the ability to recognize a material error, omission, or misstatement in the results of the non-audit services provided. Applying Safeguards Safeguards are actions or other measures, individually or in combination, that auditors and audit organizations take to effectively eliminate threats to independence or reduce them to an acceptable level. Safeguards vary depending on the facts and circumstances. Examples of safeguards are: • Consulting an independent third party, such as a professional organization, a professional regulatory body, or another auditor to discuss engagement issues or assess issues that are highly technical or that require significant judgment. • Involving another audit organization to perform or re-perform part of the engagement. • Having an auditor who was not a member of the engagement team review the work performed. • Removing an auditor from an engagement team when that auditor’s financial

or other interests or relationships pose a threat to independence. Examples of safeguards when addressing threats related to non-audit services are: • Not including individuals who provided the non-audit service as engagement team members. • Having another auditor, unassociated with the engagement, review the engagement and non-audit work as appropriate. • Engaging another audit organization to evaluate the results of the nonaudit service. • Having another audit organization reperform the non-audit service to the extent necessary to enable the other audit organization to take responsibility for the service. Audit documentation should make it clear that the auditor determined independence before the non-audit service was provided, indicators the auditor considered when concluding the designated individual has the ability to effectively oversee the non-audit service, and that threats were considered individually and in the aggregate. Internal Control The Revision incorporates internal control frameworks such as the Green

Book and the COSO format. These provide example criteria for internal control that can help auditors determine whether control deficiencies exist and help to develop meaningful recommendations for corrective actions. The Revision clarified and expanded discussion regarding requirements related to internal control over the subject matter of performance audits. The information contained herein is intended to be a summary of some of the changes contained in the 2018 Revision to Government Auditing Standards. Auditors should obtain a thorough understanding of all of the changes before accepting or performing a Yellow Book engagement. Laura Lindal, CPA, is a sole practitioner with more than 25 years of experience in auditing. She also teaches CPE programs for the WSCPA, including a Prix Fixe CPE Series webinar, Yellow Book Updates: An Overview, on March 15, 2019. You can contact her at laura@lindalcpa.com.

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COVER STORY

6 Tips for Marketing Yourself Outside of Traditional Financial Services By Lindsay Patterson, CAE Today’s CPAs are providing services beyond just tax and audit. They are providing personal financial planning services, assurance on sustainability efforts, cybersecurity advisory services, and more. While CPA firms are quickly advancing beyond traditional financial services, public perception of what CPAs do hasn’t moved quite as fast. So, if your firm is moving beyond tax and audit, how can you grow an audience that recognizes you for your emerging service line? 1. Do your research. The first step is to fully understand the industry you hope to serve. That’s why Joe Kovaks, APR, Director of Marketing and Business Development for Councilor, Buchanan & Mitchell P.C., recommends doing extensive research before beginning your marketing efforts. “A firm needs to ask itself why it would extend services. It’s easy to get excited about doing something new, but first make sure you understand the market and the market potential,” Kovaks says. He recommends industry reports such as Business Network International (BNI) for understanding specific markets. “You have to learn about your target audience. Learn how they congregate, what communications tools they use, who the influencers are in these communities. It may not be exciting, but it is crucial. This takes time. It isn’t a rush job,” he says. Even before you are ready to market yourself, networking events are one great option for research. “I used to belong to an alliance where the managing partner of a firm would set up a series of breakfast and lunch meetings in industries he wanted his business to make headway. He wasn’t selling, but was just learning about the industry, the businesses, and the people,” Kovacs says. “That way, when you do start rolling out marketing tactics, you already have a network of people you can invite.”

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2. Establish yourself as a niche expert. Craft breweries might seem like a narrow niche, but the firm Small Batch Standard has found a successful business line providing consulting, accounting, and financial strategy services to this industry. One way Chris Farmand, CPA, Managing Member, has established himself as an expert in this field is through free and specialized products that address breweries’ specific business needs. His firm offers a downloadable guide for increasing taproom sales, a whitepaper to help breweries sell their business, a weekly e-newsletter, and an online course. To access these products, individuals must provide an

email address that Farmand then uses in future marketing efforts. “Start putting out a monthly or biweekly e-newsletter with articles and information about that niche. Email it to people and become known,” Farmand says. “You have to be active, and building that email list is important for building that network and establishing yourself.” Another way to build up your niche network is by partnering with existing thought leaders within it. Volunteer to guest-write an article for an industry blog, be interviewed for a podcast, or speak at a conference. Let industry magazines and websites know that you are available for interviews as an accounting expert for

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COVER STORY

their audience. By doing so, you can build up both name recognition and a potential client base, while also positioning the profession as one that offers more than just tax and audit services. 3. Create relationships. For niche industries and startups, relationships can be just as important – if not more so – than a well-established business reputation. “Relationship 2.0 is critical for growth in this profession and removing yourself from being just the tax return and audit guy,” Farmand says. “Marketing for CPA firms has not changed enough. We go undercut our competitor. ‘Let me steal your client’ type of thing. The younger business generation is not down with that. The younger generation wants relationships.” How can you get out of the hamster wheel of undercutting and being undercut? Make time for face time. Be seen at networking and social events relevant to your industry. Think beyond hospital openings and chamber of commerce events to activities like trivia nights and wine tastings

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that are being hosted by leaders within your target audience. Or consider organizing such an event yourself. Of course, don’t forget the basics like making yourself available, responding timely to phone calls and emails, and giving clients your full attention. That means not checking your email, replying to texts, or otherwise multitasking while talking to clients, either on the phone or in person. These steps, while basic, are critical for developing and maintaining lasting relationships. 4. Promote yourself online. In today’s marketing environment, an online presence is an absolute must. First, make sure you have the basics covered. Your owned media – including your website and social media accounts – should be up-to-date with contact information, services offered, and logos. Information and branding should be consistent across all platforms. Also verify that any online listings, such as those on Google and White Pages, include your correct contact information.

Next, make sure your paid online efforts are aligned with your marketing objectives. Are you trying to raise name recognition in your community? Paid ads on Facebook that are targeted by location can generate many impressions. Are you trying to reach a specific business audience? LinkedIn might be a better option, since you can target by job title and industry more consistently than on Facebook. Third, make sure your online marketing meets your target customers where they are. For example, if only 12 percent of your website traffic comes from mobile devices, a mobile app is probably not the best place to invest marketing time and dollars. In addition to knowing what devices your audience is using to find you, you also need to know what words they are using. Remember, your target audience may not associate your specific service line with the accounting profession. Thus, if you use Google AdWords, use keyword search terms that align with those your audience uses. A potential client is unlikely to search

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COVER STORY

for “sustainability assurance services,” but may search for “sustainability in your business” or “how to show my business is meeting sustainability goals.” Google Trends can help you identify specific search terms. For example, “cyber security services” is a more popular search phrase in Texas, whereas “cybersecurity services” is more popular in California. You might also consider listing your competitors’ names among the keywords listed among your AdWords. This way, if a potential customer searches for a competitor, your firm will come up at the top of the search results list. 5. Don’t forget traditional marketing. While online marketing is essential, don’t forget about traditional marketing efforts like brochures, up-selling, and word-of-mouth referrals. They still work. For example, if you offer tax services, talk to your clients about personal financial planning. If you already provide audit services, talk to your clients about the benefits of sustainability reporting.

These clients may not be aware that such services are even available, much less the benefits they can provide. And don’t reinvent the wheel. The American Institute of CPAs offers free materials you can co-brand and use in your own marketing efforts. Check out the AICPA’s Private Companies Practice Section for marketing toolkits and other resources. Finally, make sure your colors and logos are up-to-date, visually appealing, and align with the service you are trying to sell. For example, if you’re specializing in sustainability reporting, a green logo would likely make more sense than a red one. 6. Be patient. As with all marketing, don’t expect an immediate return on investment. It could take months to years from the time a new client first hears about your firm to the time they engage you for services. “If there is an established market or one that is highly competitive, it is going to take even more time to become

known and trusted. You have to be patient,” says Kovacs. During this time, continue publishing a steady stream of content and making yourself visible. The daily social media posts, monthly newsletters, and attendance at industry events will help keep you top-of-mind for future clients. By undertaking these marketing efforts, you can help grow your client base and increase public perception and awareness of the CPA profession’s emerging services.

Lindsay Patterson, CAE, is Senior Manager – Communications and Public Relations with the American Institute of International Certified Public Accountants. Contact her at lindsay.patterson@aicpa-cima.com.

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NEWS BRIEFS

SPECIAL MEMBER BENEFIT FROM GRAVITY PAYMENTS

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IN MEMORIAM The WSCPA holds in memory with families and the larger community, these members who have recently passed on: Colleen Keranen

Donald Rudell

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Free Monthly PCPS Resource Inxpartnershipxwithxthe AICPA’s PrivatexCompaniesxPracticexSection (PCPS), the WSCPA offers a free rotating tool available every month at www.wscpa.org/pcpsresources. Past tools have included: • • •

Engagement Review Tool Clients Goals and Challenges Worksheet National MAP Survey Executive Summary

Watch your Short Form for a link to the latest tool or visit the website.

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The WashingtonCPA Winter 2019

Learn more at www.gravitypayments.com/WSCPA or contact Jake Feeman at 866.701.4700 x 694 or jfeeman@gravitypayments.com

See why the WSCPA chose Gravity as their preferred provider and experience for yourself why they keep customers over five times longer than the industry average.

Find A CPA Referral Service Let Us Help Drive Business to You Successfulxcompaniesxneverxstop marketing. Ongoing marketing efforts help to keep your firm at the forefront of your clients' minds and attract those looking for new CPAs. Keeping up with marketing can feel overwhelming. While you are busy doing the work, the WSCPA Find A CPA referral service can help you expand your client base. As the only organization in Washington dedicated to serving the profession, people turn to the WSCPA to find the best of the CPAs. Our service is easy to use. For just $175, your listing will be displayed for a full year. With just one click on the “Find A CPA” button, potential clients have easy access to all the info they need to find you and can search by key terms, services offered, area of expertise, and location. Take advantage of our referral service and get the word out about your business. Enrollxnowxatxwww.wscpa.org/ find-a-cpa. For more information, call 425.586.1142 or toll-free in Washington at 800.272.8273, ext. 1142 or email memberservices@wscpa.org.

www.wscpa.org


NEWS BRIEFS

2018-2019 Awards

Trying to catch the best CPA talent you can?

CALL FOR NOMINATIONS LIFETIME ACHIEVEMENT AWARD Recognizes a current or former WSCPA member for a career of leadership and service to the accounting profession.

OUTSTANDING VOLUNTEER LEADER AWARD Recognizes a WSCPA member for outstanding service and dedication or innovative, inspirational leadership.

COMMUNITY LEADERSHIP AWARD Recognizes a WSCPA member whose leadership in community organizations has boosted the public image of CPAs.

NEW PROFESSIONALS AWARD Recognizes a WSCPA member who has been a CPA for fewer than 10 years for outstanding WSCPA leadership.

COMPANY OR FIRM OF THE YEAR AWARD Recognizes a company or firm that provides noteworthy support to the WSCPA and its members.

RISING STAR AWARD Recognizes a WSCPA member in the process of obtaining a CPA License for active leadership and service.

SPECIAL AWARD Recognizes an individual who is not a CPA but has supported or promoted the activities of CPAs and the WSCPA.

Submit your nomination for 2018-2019 awards by Feb. 15, 2019 at www.wscpa.org/ community/awards

Looking to reel in a new job opportunity?

Try dropping your line at the WSCPA Job Board. www.wscpa.org/job-board

HELP US PUT A SMILE ON YOUR FACE! Are you into taxation? How about fraud or notfor-profit? Tell us what interests you and we’ll deliver more relevant news and updates.

Update your interests at www.wscpa.org/mywscpa

www.wscpa.org

The WashingtonCPA Winter 2019

15


LEADERSHIP

Imposters All Around By Amy O'Donnell

16

The Perfectionists. It probably goes without saying that this group has very high standards for themselves and others. Reaching the 95% success rate is a disappointment. Delegation is not their strong suit because they worry others won’t do things the “right” way. The Superheroes. They really are working hard to earn that cape by trying to be awesome at everything and every role in their life, often feeling that they are the least qualified person in the room and must go the extra mile to prove their value. Downtime is not something they can afford as it can feel as if they are wasting time. The Natural Geniuses. All of us have strengths and gifts, but this group The WashingtonCPA Winter 2019

© iStock/nito100

Impostor syndrome has become a recent topic of conversation in business. However, psychologists Pauline R. Clance and Suzanne A. Imes actually started researching the topic in 1978. At the time, they focused on women and the syndrome was mostly viewed as gender specific. More recent studies have shown that 70% of all professionals have felt like an impostor at some point in their careers. Plenty of talented people have expressed that they felt like frauds and didn’t always know what they were doing. Consider this quote from Dr. Maya Angelou, “I have written eleven books, but each time I think, ‘Uh-oh, they're going to find out now. I’ve run a game on everybody, and they're going to find me out.’” According to the Oxford English Dictionary, an impostor “is a person who pretends to be someone else in order to deceive others, especially for fraudulent gain.” It seems unlikely that most of us fit that definition, so what types of impostors are we talking about? Author Valerie Young has divided impostors into groups to help us self-diagnose:

has internalized the perception that if they have to work hard at something, then they must be terrible at it. They are used to excelling without much effort and have straight-A report cards or a collection of gold medals and trophies to back it up. It can also mean that they may avoid a challenge because they don’t want to be seen as not an expert at something right off the bat. The Soloists. Asking for help is not in their nature. After all, someone may guess that they don’t know everything and can’t do everything. They may exclude the input and expertise from others by striving to prove they can do things on their own. The Experts. Knowing everything before starting a project is essential to this group. They may avoid asking questions or worry about speaking up because they fear they will look stupid for not knowing the answer. When it comes to jobs or promotions, they will only apply for the ones where they meet every criteria and may limit their own opportunities.

Did you see yourself in any of these? Perhaps a combination of a few? Well, welcome to the club! Having read far too many articles on this topic, allow me to share the top pieces of advice on how to work through shedding (or at least reducing) your impostor feelings. •

Accept that you will fail. You are not all knowing. You will not be a rock star at everything. You will need to ask for help, and all of this is completely normal. We hear lots of stories about people who are leaders or successes in their fields, but we don’t always hear about the failures that taught them valuable lessons, the teams of people that helped get them there, and the things they simply aren’t very good at doing. Bear that in mind when you’re setting these high expectations for yourself. Roll the dice and start working on something before you are 100% ready. Chances are, it will all work out fine. Own and celebrate your achievements, even if you think they are only at an 80% success level.

www.wscpa.org


LEADERSHIP

Create a “bragging” list by regularly documenting your accomplishments. This will give you a record of what you have done, successes, and areas of growth. This can come in handy the next time you are asking for a raise, promotion, or applying for a new job. Mentor others. It can help you address feeling like a fraud and highlight the areas in which you are an expert. Find a way to receive constructive feedback without taking it personally. This can be tough, but it will help you focus on the strengths you can build on, identify when you were doing something to seek some external validation, and reinforce boundaries. Remember that even superheroes have buddies to call on for help with the big jobs. Asking for help opens the doors for learning from others,

putting their strengths to work, and offering opportunities for leadership growth. Doing everything yourself doesn’t work in today’s workplace and will reflect poorly on you. Know when you need to call in Wonder Woman’s skills or Batman’s gadgets. Find others with similar backgrounds and experiences. This can be through an affinity network such as an affinity group, alumni affinity group, or a platform like LinkedIn. These can be great resources for finding a mentor who can share advice on how they handled similar situations in the past, while helping you to hone your intuitive powers.

are not reflected in the management, or they experience discrimination and/or are treated like an outsider. This is where having an affinity network to turn to for advice and perspective on a situation is invaluable. So is documenting your accomplishments, which may help to differentiate a pattern of discrimination from a negative self-perception. Just remember, with every career shift or life change, there may be a resurgence in your feelings of self-doubt, so take time to reflect, document, and refocus on how awesome you are. Amy O’Donnell is the Director of Membership & Business Development for the WSCPA. You can contact her at aodonnell@wscpa.org or 425.586.1118.

Feeling like an impostor may decrease over time as your confidence and skills increase, and you find your groove. For some, feeling like an impostor may run a bit deeper because they are a minority in their profession, people like them

FINALLY. AN EASY WAY TO ACCEPT PAYMENTS ONLINE.

+ TOGETHER HELPING CPAS SUCCEED As WSCPA’s processing partner, Gravity Payments helps you give your clients a better experience by providing a simple and secure way to make payments online. More convenient for them, less hassle for you. Learn more at:

www.wscpa.org

WWW.GRAVITYPAYMENTS.COM/WSCPA The WashingtonCPA Winter 2019

17


ADVOCACY

Wins, Losses, and a Look to the Future By Ashley Kittrell

After a flurried season of political commercials, yard signs, and get-outthe-vote efforts, you can almost hear the nation breathing a sigh of relief and taking a deep breath in preparation for the 2020 elections. Social media users joked about finally finding out what happened to Cheryl’s she-shed from the State Farm commercial after enduring months of campaign ads. The 2018 election results were a victory for some, a loss for others, and a glimmer of collective hope for positive change. It can be difficult to muster enthusiasm for midterm elections. Those of us who play devil’s advocate often question our ability to make a difference. This year, however, voter turnout for the midterms was the highest it has ever been in 104 years according to the US Election Project. Midterm elections also tend to be cyclical, meaning that whatever party controls the Executive Branch tends to lose seats, especially on a national level. Another encouraging statistic from the midterms is the record number of women who ran for office on both a national and state level. At least 36 women were newly elected to the U.S. House of Representatives and 13 to the Senate. Maine, South Dakota, and Iowa elected their first female governors. According to a June 2018 report by the National Conference of State Legislatures, Washington ranked in the top five state legislatures for the highest number of female legislators (37.4%) in the House and Senate. This election, nine women (not including incumbents) were elected to the state legislature. In Washington state, many predicted the Democratic Party would gain as many as 20 seats in the House. At the time of this article, the Democratic Party increased their majority in both the House and Senate by seven and three seats respectively. Many incumbents

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The WashingtonCPA Winter 2019

held their seats, and the party that previously held them maintained most open positions. On a national level, 470 seats in Congress were up for election. The Democratic Party gained 39 seats and took control of the House of Representatives, while the Republican Party managed to gain two seats in the Senate and retain control. Regardless of the November 6 results, WSCPA members accomplished a lot in 2018. Here are some highlights and what to look forward to this year.

It can be difficult to muster enthusiasm for midterm elections. Those of us who play devil’s advocate often question our ability to make a difference. This year, however, voter turnout for the midterms was the highest it has ever been in 104 years. Connections. In 2018, through opportunities such as the CPA Political Action Committee (CPAPAC), Key Contact Program, and Hill Day, WSCPA members met with 58 legislators and candidates to deliver CPAPAC contributions. More importantly, they discussed important issues facing the profession and asked how the WSCPA could be a resource to them as they face important decisions in the upcoming legislative session. Legislative. Washington prides itself on being at the forefront of innovation and solving problems with unconventional solutions. The CPA profession is no different. In 2018, the Governor

signed House Bill 2468 allowing accounting firms in British Columbia to conduct attest and compilation engagements for companies that are wholly- or majority-owned subsidiaries of B.C. companies and are located in Washington. The close proximity and intertwined economies bolstered this initiative. We are optimistic that our counterparts will pass similar legislation in the near future. An amendment to Senate Bill 5928 was successfully added to exempt CPAs and accounting firms from any criminal liability on the state level if they provide services to marijuana producers, processors, and retailers. While the issue remains uncertain at the federal level, additional state protections help ensure that CPAs can effectively serve their clients. 2019. WSCPA membership is comprised of a diverse group of professionals. This is why we work hard to maintain a bipartisan stance in Olympia, so that individuals can maintain cohesiveness in their business, remain independent, and preserve important values. As a new legislative session begins, the Legislature faces several challenges that include tax reform proposals, Wayfair, consumer privacy, and much more. As always, we will work hard to ensure the profession is represented on both a national and state level. Also, don’t forget to sign up for Hill Day!

Ashley Kittrell is the WSCPA Government Relations Coordinator. You can contact her at akittrell@wscpa.org or 425.586.1150.

www.wscpa.org


ADVOCACY

Hill Day JANUARY 17, 2019

There’s still time to register for Hill Day! Join your peers in Olympia on January 17. As both a CPA and a constituent, you are extremely valued by your legislator. This is a great opportunity to build relationships with your legislators, earn CPE, and network with fellow members. Last year, members delivered the annual Income Tax Guide for Legislators, asked for support for WSCPAsponsored legislation, and discussed current issues affecting the profession and how the WSCPA can be a resource to legislators. The only requirement to attend is being a WSCPA member. The morning pre-session will give you all the information and handouts you need for your visits in the afternoon and, in most cases, you will attend meetings with a fellow member. Past participants still talk about how easy and fun the experience was. Register online for Hill Day at www.wscpa.org/hillday Following Hill Day, join the Olympia Chapter’s New Year Kickoff networking event! You can register online at www.wscpa.org/oc-kickoff

CPAPAC By supporting the CPAPAC, you are investing in your profession. You can contribute online at wscpa.org/cpapac.

CPAPAC 2018 ACHIEVEMENTS

58 CPAPAC checks delivered in person in 2018

YOUR CONTRIBUTION: •

Supports fellow CPAs running for office. CPAs are highly qualified when it comes to shaping public policy. Several WSCPA members currently serve in local offices.

Provides a strong collective voice for the profession. Representing nearly 6,000 CPAs, the WSCPA ensures your voice is heard when important policy issues affecting the profession are being considered.

Results in successful legislative initiatives. These include exempting CPAs from maintaining a private investigator license, bringing the Public Accountancy Act to closer conformity with the Uniform Accountancy Act, and limited mobility for B.C. accounting firms.

www.wscpa.org

Over $100,000 CPAPAC contributions in 2018

THIS TRANSLATES TO: •

Updated definition of attest

Creation of the Certified Public Accounting Scholarship Program

Individual and firm mobility across state lines

7 bills passed since 2018

Exemptions from any requirements of the Private Investigators statute

British Columbia accounting firms can provide certain services to subsidiaries in Washington

Protections for CPAs with clients in the marijuana industry

The WashingtonCPA Winter 2019

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SAVE THE DATE! 2019 ANNUAL MEETING June 5, 2019 | Columbia Winery

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The WashingtonCPA Winter 2019

www.wscpa.org


WASHINGTON CPA FOUNDATION

Scholarship Reviewers Needed By Monette Anderson

Scholarship Update Spring quarter is starting back up at campuses around Washington. The pressure is increasing to notify all eligible students of the amazing opportunity they have to nab $5,000-8,000 to help offset their college tuition. The Washington CPA Foundation scholarship deadline is February 14 and our hope is that students who plan to apply are securing their letters of recommendation now, since that is usually the most difficult hurdle and requires some lead time. To encourage students to apply early, the WSCPA awarded four $25 Amazon™ gift cards to students who began their application by December 20. If you know any eligible students, please encourage them to apply. The eligibility guidelines and application can be found at www. wscpa.org/scholarship. Scholarship Reviewer Search The Washington CPA Foundation is proud to be able to offer over $500,000 in awards this year, but we are even more proud of our WSCPA members who rise to the challenge every year and offer their assistance in this important undertaking. As students begin embarking down their path to becoming CPAs, we can’t think of a better group to review

applications and help us identify the rising stars of the profession. Application reviews occur in two rounds beginning in mid-February and ending in late March. We are always looking for new reviewers to join our team. This year will be our third year reviewing applications online. Each year reviewers tell us the process gets easier and more streamlined. During the review periods, reviewers can access their assigned applications any time, from anywhere they have access to the Internet for ultimate flexibility. We’ll provide you with training on navigating the online platform and scoring applications. In the first round of scholarship review, reviewers score full applications, which include general academic information, résumés, transcripts, a recommendation letter, and three short essays. Each application takes 30 minutes on average to read and score. In the second round, reviewers look at essays only and spend an average of 10 minutes per application on final scoring. There is typically a third and final round of review with voluntary participation from reviewers if they would like to vote online, or attend an in-person session to discuss applications. Reviewers are also invited to our annual Foundation Scholarship Reception

in Bellevue where they can meet scholarship winners from across the state. Last year’s reviewers indicated that they spent an average of 21 hours reviewing applications over the month and a half review period. The maximum time indicated from volunteers was 30 hours. Pete Miller, CPA, Chair of the Scholarship Committee and a Washington CPA Foundation Trustee, has reviewed applications for many years and encourages others to get involved. “The accounting profession has given so much to me and serving on the scholarship review committee has been a wonderful way to give back to the profession and pay it forward to the next generation of accountants. Whether you are a seasoned WSCPA volunteer or this is your first time, you can help make a significant impact for these students.” To sign up as a reviewer or get more information about the process, please contact me. Monette Anderson is the Manager of Student Initiatives for the WSCPA. You can contact her at manderson@wscpa.org or 425.586.1118.

Accounting scholarships are only one click away. Enter to win a $5,000-8,000 scholarship!

www.wscpa.org/one-click www.wscpa.org

The WashingtonCPA Winter 2019

21


© Hannah Mae Photography

Photo Album TOP: Bellingham Members’ Reception © Shanna Paxton Photography

LEFT: Spokane Members’ Reception BOTTOM: Yakima Members’ Reception For more event photos, go to

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The WashingtonCPA Winter 2019

© Laura Spiry Photography

© Jack Wade Photography

www.wscpa.org/gallery.

www.wscpa.org


EVENTS

Chapter Events www.wscpa.org/chapters For more information, contact Katie Berry at kberry@wscpa.org.

DATE

CPE EVENT

CODE

LOCATION

Bellingham Area Chapter 1/10/19

1

Annual Tax Update: Are You Ready for the 19CHBLJA10 2018 Filing Season? 7:30-9:30am

Bellingham Golf and Country Club

Olympia Area Chapter 1/17/19

The Olympia Chapter’s New Year Kickoff: Let the Fun Begin, 5-7pm

19CHOLJA17

River’s Edge Restaurant

19CHTCJA08

Anthony’s at Columbia Point (Richland)

Tri-Cities Area Chapter 1/8/19

1

Tri-Cities Chapter: Federal Tax Update, 12-1pm

www.wscpa.org

The WashingtonCPA Winter 2019

23


Start. Grow. Exit.

Financial solutions for the life of your practice. Bank of the West understands that personal care and attention are key to your success. No matter what the next step is for your practice, let our banking team meet the needs of your practice journey. Eric Allison, Senior Business Banking Officer 253-297-5665 I eric.allison@bankofthewest.com

Solutions designed for where you want to go � Acquire, buy in, expand or refinance a practice � Finance commercial real estate � Expand or improve your office � Upgrade technology � Give clients more ways to pay � Streamline payments & recordkeeping

Loans and lines of credit are subject to credit approval and are for business purposes only. © 2018 Bank of the West. Doing business in South Dakota as Bank of the West California. Member FDIC. Equal Housing Lender.

YOU’VE GOT THE SMARTS. NOW GET THE SAVVY.

INTRODUCING THE CGMA PROGRAM DISCOVER A LIFELONG PROFESSIONAL LEARNING JOURNEY AT CGMA.org/Program ®

CGMA, CHARTERED GLOBAL MANAGEMENT ACCOUNTANT, and the CGMA logo are trademarks of the Association of International Certified Professional Accountants. These trademarks are registered in the United States and in other countries. 18652-326

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18652 – CGMA Program - State Society Ad_HALF 2.indd 1

www.wscpa.org 11/13/15 10:50 AM


CPE Digest www.wscpa.org/cpe

GET READY. HERE IT COMES. Arm yourself with knowledge from our TCJA courses to conquer the coming tax season. UPCOMING CPE

DATES

2018 Federal Tax Update with Greg & George

1/17/19

In their high-energy and humorous way, Greg and George use their real-life CPA experience to explain key developments from the past year affecting individual and business tax returns.

2018 Tax Advisors Update with Chris Hesse & Mary Marino* Written by and for tax professionals, this one-of-a-kind seminar untangles what the various provisions in the TCJA mean for your clients and provides helpful tools to aid you during tax time.

1/21/18 1/22/18 webcast available

* Bellevue only

The Washington Society of CPAs is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

www.wscpa.org/cpe

www.wscpa.org

For information on WSCPA CPE policies, visit www.wscpa.org/cpe/cpe-policies or call 425.644.4800. The WashingtonCPA Winter 2019

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EDUCATION AND EVENTS

EVENTS BY SUBJECT CPEeducation Credits Course WSCPA and events scheduled for October 2018 Date January#2019 Typeare listed below, chronologically by subject.

Register at www.wscpa.org/store

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

CPE Credits

WSCPA Member Fee

Code

AICPA Member Discount

Location

NEED HELP finding a seminar or webcast? Call 800.272.8273 or 425.644.4800.

Course

Code

Type

#

NonMember Fee

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Accounting 1/14

8

Tax Practitioner's Guide to Accounting and Reporting Issues WEBCAST, 8:30am - 4:00pm

19WBCJA14A

245

375

Your Desk

1/17

8

GAAP Update WEBCAST, 8:30am - 4:00pm

19WBCJA17B

245

375

Your Desk

1/21

4

Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know WEBCAST, 7:30am - 11:30am

19WBBJA21A

159

199

Your Desk

1/22

8

Cash and Credit Management WEBCAST, 8:30am - 4:00pm

19WBCJA22B

245

375

Your Desk

1/30

4

Financial and Tax Accounting for S Corporations WEBINAR, 10:00am - 2:00pm

19WNCJA30A

129

149

Your Desk

1/30

8

Top 10 Tools for CFOs to be More Effective Business Partners WEBCAST, 8:30am - 4:00pm

19WBCJA30C

245

375

Your Desk

1/31

8

2018 Accounting and Auditing Update WEBCAST, 7:00am - 3:00pm

19WBAJA31A

195

245

Your Desk

1/31

8

Leases: Present and Future WEBCAST, 8:30am - 4:00pm

19WBCJA31B

245

375

Your Desk

1/31

8

OCBOA Case Studies WEBCAST, 8:30am - 4:00pm

19WBCJA31C

245

375

Your Desk

2/6

8

Financial Statement Risks: Fraud, Misstatements and Earnings Management WEBCAST, 8:30am - 4:00pm

19WBCFE06A

245

375

Your Desk

2/6

2

Procure-to-Pay Fraud: Detection and Prevention Best Practice WEBINAR, 12:00pm - 2:00pm

19WNCFE06A

79

99

Your Desk

2/8

2

Boost Your Bottom Line: Reduce Internal Fraud, Theft & Abuse WEBINAR, 10:00am - 12:00pm

19WNCFE08A

79

99

Your Desk

2/12

8

Create Reports That Matter: Turn Information into Action WEBCAST, 8:30am - 4:00pm

19WBCFE12A

245

375

Your Desk

2/14

2

Fiduciary Accounting for Estates and Trusts WEBINAR, 8:00am - 10:00am

19WNCFE14A

79

99

Your Desk

2/21

8

U.S. GAAP Disclosures for Non-Public Entities WEBCAST, 8:30am - 4:00pm

19WBCFE21B

245

375

Your Desk

2/26

8

Private Company Reporting Options: More Changes Ahead WEBCAST, 8:30am - 4:00pm

19WBCFE26A

245

375

Your Desk

3/1

2

Defective Compensation Systems: When Bonuses and Incentives Go Bad WEBINAR, 11:00am - 1:00pm

19WNCMR01A

79

99

Your Desk

3/4

2

Commonly Missed Analytical Procedures WEBINAR, 12:00pm - 2:00pm

19WNCMR04A

79

99

Your Desk

3/11

8

Review of Significant Accounting Topics WEBCAST, 8:30am - 4:00pm

19WBCMR11A

245

375

Your Desk

3/18

8

Accounting and Auditing Update WEBCAST, 8:30am - 4:00pm

19WBCMR18A

245

375

Your Desk

3/19

8

Compilations and Reviews: Risks, Procedures and Fraud WEBCAST, 8:30am - 4:00pm

19WBCMR19A

245

375

Your Desk

3/22

8

Accounting Fraud WEBCAST, 8:30am - 4:00pm

19WBCMR22A

245

375

Your Desk

3/28

2

How to Identify, Explain and Present Pertinent Financial Information WEBCAST, 9:00am - 11:00am

19WBBMR28A

75

90

Your Desk

3/29

8

Accounting Analysis Basics WEBCAST, 8:30am - 4:00pm

19WBCMR29A

245

375

Your Desk

4/2

2

FASB's New Revenue Recognition Standard ASC 606 WEBINAR, 7:00am - 9:00am

19WNCAP02B

79

99

Your Desk

4/2

4

Shorten Month End - Apply Lean Thinking to Your Month-End Closing Process WEBCAST, 7:00am - 11:00am

19WBAAP02A

139

169

Your Desk

L Live event |  Non-tech credits |  Conference | Y Yellow Book | l Chapter event | S Season Ticket/Coupons N/A |

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The WashingtonCPA Winter 2019

Networking event | C CFP

www.wscpa.org


Register at www.wscpa.org/store Date

CPE Credits

#

EDUCATION AND EVENTS

Course

Code

WSCPA Member Fee

Type

NonMember Fee

AICPA Member Discount

Location

Accounting 4/3

2

Commonly Missed Analytical Procedures WEBINAR, 9:00am - 11:00am

19WNCAP03A

79

99

Your Desk

4/6

4

Who Stole My Balance Sheet: The FASB Research Project Continues WEBCAST, 7:00am - 11:00am

19WBAAP06A

129

159

Your Desk

Yellow Book Standards for Performance Auditors WEBINAR, 12:30pm - 2:30pm

19WNCFE05B

79

99

Your Desk

Accounting (Governmental) Y

2/5

2

2/7

4

Government OPEB Accounting and Financial Reporting WEBCAST, 8:30am - 12:00pm

19WBCFE07A

120

188

Your Desk

2/8

4

Government Pension Accounting and Financial Reporting WEBCAST, 8:30am - 12:00pm

19WBCFE08A

120

188

Your Desk

2/19

8

Uniform Guidance 201 - Federal Grants Selected Intermediate Level Topics WEBCAST, 8:00am - 4:00pm

19WBAFE19A

195

245

Your Desk

2/28

4

Financial Reporting for Not-for-Profit Entities WEBCAST, 10:00am - 2:00pm

19WBBFE28A

159

199

Your Desk

3/1

1

The GASB Guy WEBINAR, 12:00pm - 12:50pm

19LLMR01

29.99

49.99

Your Desk

3/6

4

Y

Not-for-Profit Accounting and Auditing Update WEBCAST, 10:00am - 2:00pm

19WBBMR06B

159

199

Your Desk

4/30 -5/1

16

L 

Governmental Accounting and Auditing Conference 2019, 8:00am 5:00pm

19GAAC

385

485

Sea-Tac

4/30 -5/1

16

Governmental Accounting and Auditing Conference 2019 WEBCAST, 8:00am - 5:00pm

19WWGAAC

375

475

Your Desk

Y

Auditing 1/16

8

2018 Business Fraud Update - Use of Technology in Fraud Investigations WEBCAST, 7:00am - 3:00pm

19WBAJA16A

195

245

Your Desk

1/18

4

Audit Workpapers: Reviewing Field Work WEBCAST, 10:00am - 1:00pm

19WBBJA18A

159

199

Your Desk

2/1

4

Applying Professional Skepticism in an Audit WEBCAST, 10:00am - 2:00pm

19WBBFE01A

159

199

Your Desk

2/5

4

Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls WEBCAST, 10:00am - 2:00pm

19WBBFE05A

159

199

Your Desk

2/6

4

Fraud and Cash Receipts: Common Frauds and Internal Controls WEBCAST, 10:00am - 2:00pm

19WBBFE06A

159

199

Your Desk

2/12

2

Revenue Recognition—Risks NOT in the New Standard WEBINAR, 12:00pm - 2:00pm

19WNCFE12B

79

99

Your Desk

2/19

8

Deception, Embezzlement and Fraud WEBCAST, 8:30am - 4:00pm

19WBCFE19B

245

375

Your Desk

2/20

8

Effective Workpaper Techniques: Building a Better Workpaper WEBCAST, 8:30am - 4:00pm

19WBCFE20A

245

375

Your Desk

2/21

2

Commodity and Interest Rate Risks: Manage the Unmanageable WEBINAR, 1:00pm - 3:00pm

19WNCFE21A

79

99

Your Desk

2/25

8

Documentation Requirements, Design and Reviewing Techniques of Workpapers WEBCAST, 8:30am - 4:00pm

19WBCFE25A

245

375

Your Desk

2/28

8

COSO: ERM for Small and Medium-Sized Enterprises WEBCAST, 8:30am - 4:00pm

19WBCFE28A

245

375

Your Desk

3/1

4

Applying Professional Skepticism in an Audit WEBCAST, 10:00am - 2:00pm

19WBBMR01A

159

199

Your Desk

3/5

4

Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls WEBCAST, 10:00am - 2:00pm

19WBBMR05A

159

199

Your Desk

3/6

4

Fraud and Cash Receipts: Common Frauds and Internal Controls WEBCAST, 10:00am - 2:00pm

19WBBMR06A

159

199

Your Desk

3/11

2

Commodity and Interest Rate Risks: Manage the Unmanageable WEBINAR, 1:00pm - 3:00pm

19WNCMR11A

79

99

Your Desk

L Live event |  Non-tech credits |  Conference | Y Yellow Book | l Chapter event | S Season Ticket/Coupons N/A |

www.wscpa.org

Networking event | C CFP

The WashingtonCPA Winter 2019

27


EDUCATION AND EVENTS Date

CPE Credits

#

Register at www.wscpa.org/store

Course

Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Auditing 3/26

8

Corporate Governance, Fraud and Control: Setting the Strategy and Executing it Efficiently WEBCAST, 8:30am - 4:00pm

19WBCMR26A

245

375

Your Desk

4/1

4

Applying Professional Skepticism in an Audit WEBCAST, 10:00am - 2:00pm

19WBBAP01A

159

199

Your Desk

4/2

4

Preparation, Compilation, and Review Engagements: Update and Review WEBCAST, 10:00am - 2:00pm

19WBBAP02A

159

199

Your Desk

4/3

4

Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls WEBCAST, 10:00am - 2:00pm

19WBBAP03A

159

199

Your Desk

4/8

8

Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors WEBCAST, 7:30am - 3:30pm

19WBBAP08A

249

319

Your Desk

Auditing (Governmental) 1/14

8

Y

Applying the Uniform Guidance in Your Single Audits WEBCAST, 7:30am - 3:30pm

19WBBJA14A

249

319

Your Desk

2/5

8

Y

The Single Audit from Beginning to End WEBCAST, 8:00am - 4:00pm

19WBAFE05A

195

245

Your Desk

2/5

2

Y

Yellow Book Standards for CPAs in Public Practice WEBINAR, 9:00am - 11:00am

19WNCFE05A

79

99

Your Desk

2/20

8

Y

Cost Principles for State and Local Governments and Nonprofit Organizations WEBCAST, 8:30am - 4:00pm

19WBCFE20B

245

375

Your Desk

2/27

8

Y

The Yellow Book: From Beginning to End WEBCAST, 8:00am - 4:00pm

19WBAFE27A

195

245

Your Desk

3/11

8

Y

Applying the Uniform Guidance in Your Single Audits WEBCAST, 7:30am - 3:30pm

19WBBMR11A

249

319

Your Desk

3/15

1

Y

Yellow Book Updates: An Overview WEBINAR, 12:00pm - 12:50pm

19LLMR15

29.99

49.99

Your Desk

8

Y

The Yellow Book: From Beginning to End WEBCAST, 7:00am - 3:00pm

19WBAAP12A

195

245

Your Desk

How to Develop Tomorrow's Leaders Today: Sucession Planning That Works WEBCAST, 9:00am - 11:00am

19WBBJA17A

75

90

Your Desk

The Top Ten Business Myths WEBCAST, 8:30am - 4:00pm

19WBCJA22C

245

375

Your Desk

4/12

Business Management & Organization 1/17

2

1/22

8

1/25

1

Member Exclusive: Migraine Prevention― Major Accounting Issues to Anticipate This Year WEBINAR, 12:00pm - 12:50pm

19LLJA25

0

N/A

Your Desk

1/30

2

The Finance and Accounting Organization as Partner and Strategist to the Business WEBCAST, 8:00am - 10:00pm

19WBBJA30A

75

90

Your Desk

2/13

2

Bouncing Back From Your Busy Season and the Rest of the Year WEBINAR, 11:00am - 1:00pm

19WNCFE13A

79

99

Your Desk

2/21

8

Pricing on Purpose: The Eight Steps to Implementing Value Pricing WEBCAST, 8:30am - 4:00pm

19WBCFE21A

245

375

Your Desk

2/22

2

Top Ten Business Myths and How to Avoid Them! WEBINAR, 9:00am - 11:00am

19WNCFE22A

79

99

Your Desk

2/25

4

The Changing Role of the Controller: Advancing from Tactical to Strategic WEBCAST, 10:00am - 2:00pm

19WBBFE25A

159

199

Your Desk

3/8

2

Managing People - Conquering the Soft Side of Your Job WEBINAR, 9:00am - 11:00am

19WNCMR08A

79

99

Your Desk

3/12

8

Transforming Your Role as Controller to Business Partner WEBCAST, 8:00am - 4:00pm

19WWCOBPMR

295

395

Your Desk

3/12

8

L

Transforming Your Role as Controller to Business Partner, 8:00am - 4:00pm

19COBPMR12

305

405

Bellevue

3/13

2

Avoid Failures: Succeed Through Experimentation WEBINAR, 1:00pm - 3:00pm

19WNCMR13B

79

99

Your Desk

3/15

2

3 Market Analysis Priorities to Drive Profitability WEBINAR, 9:00am - 11:00am

19WNCMR15A

79

99

Your Desk

L Live event |  Non-tech credits |  Conference | Y Yellow Book | l Chapter event | S Season Ticket/Coupons N/A |

28

The WashingtonCPA Winter 2019

Networking event | C CFP

www.wscpa.org


Register at www.wscpa.org/store Date

CPE Credits

#

Course

EDUCATION AND EVENTS WSCPA Member Fee

Code

Type

NonMember Fee

AICPA Member Discount

Location

Business Management & Organization 3/15

4

Staff Retention: Attract and Keep the Best People WEBCAST, 8:00am - 12:00pm

19WBAMR15A

129

159

Your Desk

3/18

2

Don’t Let Your Schedule Get Away From You WEBINAR, 9:30am - 11:30am

19WNCMR18A

79

99

Your Desk

3/21

2

The Finance and Accounting Organization as Partner and Strategist to the Business WEBCAST, 8:00am - 10:00pm

19WBBMR21A

75

90

Your Desk

3/26

2

How to Build a Culture of Engagement that Maximizes Trust, Accountability, and Performance WEBCAST, 12:00pm - 2:00pm

19WBBMR26B

75

90

Your Desk

3/26

2

Leadership Skills for Peak Performance in 21st Century WEBINAR, 8:00am - 10:00am

19WNCMR26A

79

99

Your Desk

3/27

2

Effective Networking: Energize Your Career WEBINAR, 9:00am - 11:00am

19WNCMR27A

79

99

Your Desk

3/29

1

Business Innovation WEBINAR, 12:00pm - 12:50pm

19LLMR29

29.99

49.99

Your Desk

3/29

2

Open Book Management: Making it Work in the Real World WEBINAR, 9:30am - 11:30am

19WNCMR29A

79

99

Your Desk

4/1

2

Avoid Failures: Succeed Through Experimentation WEBINAR, 9:00am - 11:00am

19WNCAP01A

79

99

Your Desk

19WBBJA25A

75

90

Your Desk

Communications & Marketing 1/25

2

Financial Storytelling: The Key in Growing Your Organization to the Next Level WEBCAST, 7:00am - 9:00am

Computer Software & Applications 2/1

2

QuickBooks – Best Practices for Accountants WEBINAR, 10:00am - 2:00pm

19WNCFE01A

79

99

Your Desk

2/7

2

Microsoft PowerBI - Get Started with the Right Data WEBINAR, 9:00am - 11:00am

19WNCFE07A

79

99

Your Desk

2/8

1

Member Exclusive: Excel at Excel! WEBINAR, 12:00pm - 12:50pm

19LLFE08

0

N/A

Your Desk

2/12

4

Excel - Using PivotTables for Data Analysis WEBINAR, 10:00am - 2:00pm

19WNCFE12A

129

149

Your Desk

2/19

2

Excel - Advanced Spreadsheet Troubleshooting Techniques WEBINAR, 1:00pm - 3:00pm

19WNCFE19A

79

99

Your Desk

2/19

8

Excel Tips and Techniques: Improve Productivity and Financial Modeling WEBCAST, 8:30am - 4:00pm

19WBCFE19A

245

375

Your Desk

2/26

4

Microsoft PowerBI - Fundamentals of the PowerBI Desktop App WEBINAR, 10:00am - 2:00pm

19WNCFE26A

129

149

Your Desk

3/14

2

Excel - Working with Text, Date & Time Functions & Formulas WEBINAR, 8:30am - 10:30am

19WNCMR14A

79

99

Your Desk

3/19

2

Microsoft PowerBI - Fundamentals of Power Query WEBINAR, 9:00am - 11:00am

19WNCMR19A

79

99

Your Desk

3/19

2

QuickBooks – Best Practices for Accountants WEBINAR, 1:00pm - 3:00pm

19WNCMR19B

79

99

Your Desk

3/21

2

Excel - Best Practices Before Final Save WEBINAR, 12:00pm - 2:00pm

19WNCMR21A

79

99

Your Desk

4/2

2

Excel - Working with Text, Date & Time Functions & Formulas WEBINAR, 12:00pm - 2:00pm

19WNCAP02A

79

99

Your Desk

4/5

2

Excel - Two Must Know Features: Defined Names & Tables WEBINAR, 10:00am - 12:00pm

19WNCAP05A

79

99

Your Desk

4/8

2

Microsoft PowerBI - Introduction to Data Analysis in Excel WEBINAR, 7:00am - 9:00am

19WNCAP08A

79

99

Your Desk

4/9

2

Excel - Building Powerful Lookup & Reference Formulas WEBINAR, 12:00pm - 2:00pm

19WNCAP09A

79

99

Your Desk

L Live event |  Non-tech credits |  Conference | Y Yellow Book | l Chapter event | S Season Ticket/Coupons N/A |

www.wscpa.org

Networking event | C CFP

The WashingtonCPA Winter 2019

29


CONFERENCES

Register at www.wscpa.org/cpe/catalog or page 44

2019 Spring Conferences Great topics. Phenomenal speakers. Opportunities too amazing for you to miss! April 30 - May 1, 2019

Governmental Accounting & Auditing Conference

at the Conference Center at Sea-Tac

May 21, 2019

Washington State Tax Conference

at McMenamin’s Anderson School, Bothell

May 22, 2019

International Tax Conference

at McMenamin’s Anderson School, Bothell

June 13, 2019

Women’s Leadership Summit

Meyderbauer Center, Bellevue

webcast available

30

REGISTER NOW! www.wscpa.org/conferences | 425.644.4800

The WashingtonCPA Winter 2019

www.wscpa.org


Register at www.wscpa.org/store Date

CPE Credits

#

Course

EDUCATION AND EVENTS Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Thank You to Our 2018 Sponsors!

Berntson Porter & Company PLLC BKD CPAs & Advisors Bloomberg BNA Brayn Consulting LLC Columbia Bank Comdata Gravity Payments Inc.

Hub International Northwest LLC Jacobson, Jarvis & Co PLLC Parker, Smith, & Feek Paylocity The Resource Group Robert Half Seitel Systems

Thomas Reuters US Trust Bank of America Private Wealth Management Viewpoint Watson & McDonell PLLC Wolters Kluwer

BECOME A SPONSOR! Networking event | C CFP Contact Donna Vance at dvance@wscpa.org or 425.586.1114.

L Live event |  Non-tech credits |  Conference | Y Yellow Book | l Chapter event | S Season Ticket/Coupons N/A |

www.wscpa.org

The WashingtonCPA Winter 2019

31


EDUCATION AND EVENTS CPE Credits

Date

#

Register at www.wscpa.org/store

Course

Code

WSCPA Member Fee

NonMember Fee

Type

AICPA Member Discount

Location

Finance 1/28

8

Corporate Finance Checkup: Renovate Your Analytical Toolbox WEBCAST, 8:30am - 4:00pm

19WBCJA28A

245

375

Your Desk

2/11

8

Financial Statement Analysis WEBCAST, 8:30am - 4:00pm

19WBCFE11A

245

375

Your Desk

2/13

8

Personal Financial Statements WEBCAST, 8:30am - 4:00pm

19WBCFE13A

245

375

Your Desk

2/15

2

Debt or Equity: Which Will Your Organization Need Next? WEBINAR, 9:00am - 11:00am

19WNCFE15A

79

99

Your Desk

2/20

2

Cost of Capital: What is It and How to Use it Every Day WEBINAR, 9:00am - 11:00am

19WNCFE20B

79

99

Your Desk

2/27

2

Cash Conversion Cycle: Tools and Techniques WEBINAR, 9:00am - 11:00am

19WNCFE27A

79

99

Your Desk

3/12

4

Balance Sheet Management: The Least Understood Risk WEBCAST, 7:00am - 11:00am

19WBAMR12A

129

159

Your Desk

3/12

4

Financial Forecasting: Planning for Success WEBCAST, 10:00am - 2:00pm

19WBBMR12A

159

199

Your Desk

3/13

8

Annual Update for Controllers WEBCAST, 8:00am - 4:00pm

19WWSKSBMR

295

395

Your Desk

Annual Update for Controllers, 8:00am - 4:00pm

19SKSBMR13

305

405

Bellevue

L

3/13

8

3/20

2

Balance Sheet Management: The Least Understood Risk WEBINAR, 9:00am - 11:00am

19WNCMR20A

79

99

Your Desk

3/22

2

Cost of Capital: What is It and How to Use it Every Day WEBINAR, 9:00am - 11:00am

19WNCMR22A

79

99

Your Desk

3/25

2

Bitcoin - What You Should Know About This Digital Currency WEBINAR, 8:00am - 10:00am

19WNCMR25A

79

99

Your Desk

3/28

8

Financial Statement Analysis for Managers WEBCAST, 8:30am - 4:00pm

19WBCMR28A

245

375

Your Desk

3/29

2

The Strategic Finance Department - 15 New Roles WEBCAST, 11:00am - 1:00pm

19WBBMR29A

75

90

Your Desk

4/5

1

Washington State Economic Outlook WEBINAR, 12:00pm - 12:50pm

19LLMY24

29.99

49.99

Your Desk

4/10

2

Cash Conversion Cycle: Tools and Techniques WEBINAR, 9:00am - 11:00am

19WNCAP10A

79

99

Your Desk

Information Technology 2/4

2

Guide to Cyber Security Planning WEBINAR, 1:00pm - 3:00pm

19WNCFE04A

79

99

Your Desk

2/20

2

Leverage Big Data & Data Analytics to Make Better Decisions WEBINAR, 7:00am - 9:00am

19WNCFE20A

79

99

Your Desk

2/28

2

How Technology is Impacting the Accounting Profession WEBINAR, 10:00am - 12:00pm

19WNCFE28A

79

99

Your Desk

3/7

2

Cybersecurity Series - Email Threats and Protection WEBINAR, 11:00am - 1:00pm

19WNCMR07A

79

99

Your Desk

3/12

2

Guide to Cyber Security Planning WEBINAR, 8:00am - 10:00am

19WNCMR12A

79

99

Your Desk

3/13

2

Leverage Big Data & Data Analytics to Make Better Decisions WEBINAR, 7:00am - 9:00am

19WNCMR13A

79

99

Your Desk

4/12

2

Cybersecurity Series - Protecting Your PC & Mobile Devices WEBINAR, 10:00am - 12:00pm

19WNCAP12A

79

99

Your Desk

Management Services 3/13

4

Risk, Cost, and Cash Management for Controllers and Financial Managers WEBCAST, 10:00am - 2:00pm

19WBBMR13A

159

199

Your Desk

4/4

4

Strategic Planning For Small and Medium-Sized Businesses: Moving from Ideas to Action WEBCAST, 7:00am - 11:00am

19WBAAP04A

129

159

Your Desk

19WBBJA22A

75

90

Your Desk

Personal Development 1/22

2

How to Build a Base of Personal Credibility and Trust WEBCAST, 10:00am - 12:00pm

L Live event |  Non-tech credits |  Conference | Y Yellow Book | l Chapter event | S Season Ticket/Coupons N/A |

32

The WashingtonCPA Winter 2019

Networking event | C CFP

www.wscpa.org


Register at www.wscpa.org/store Date

CPE Credits

#

Course

EDUCATION AND EVENTS Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Personal Development 2/1

1

Don't Be a Digital Slob: Tips from a Professional Organizer WEBINAR, 12:00pm - 12:50pm

19LLFE01

29.99

49.99

Your Desk

2/7

8

Shortcuts to Success and Happiness: The 14 Best Tools for Personal and Professional Development WEBCAST, 8:00am - 4:00pm

19WBAFE07A

145

195

Your Desk

3/1

4

Triple Your Memory, Prevent Dementia and Halve Your Stress Part I WEBCAST, 8:00am - 12:00pm

19WBAMR01A

129

159

Your Desk

3/4

4

Achieving Balance in Work and Life Part I WEBCAST, 8:00am - 12:00pm

19WBAMR04A

129

159

Your Desk

3/6

4

Working Smarter, Not Harder: the New Science of Getting on Top of it All - Part 2 WEBCAST, 11:00am - 3:00pm

19WBAMR06A

129

159

Your Desk

3/14

4

Achieving Balance in Work and Life Part II WEBCAST, 7:00am - 11:00am

19WBAMR14A

129

159

Your Desk

3/14

4

Working Smarter, Not Harder: the New Science of Getting on Top of it All - Part 1 WEBCAST, 9:00am - 1:00pm

19WBAMR14B

129

159

Your Desk

3/18

2

Get the Right Work Done (In Less Time): The Future of Time Management WEBCAST, 11:00am - 1:00pm

19WBBMR18A

75

90

Your Desk

3/22

8

Shortcuts to Success and Happiness: The 14 Best Tools for Personal and Professional Development WEBCAST, 8:00am - 4:00pm

19WBAMR22A

145

195

Your Desk

3/26

2

How to Build a Base of Personal Credibility and Trust WEBCAST, 10:00am - 12:00pm

19WBBMR26A

75

90

Your Desk

3/27

2

How to Succeed as a First Time Manager WEBCAST, 10:00am - 12:00pm

19WBBMR27A

75

90

Your Desk

3/28

2

Leadership Improv - Why "Fake It Until You Make It" Works WEBCAST, 12:00pm - 2:00pm

19WBBMR28B

75

90

Your Desk

4/11

4

Triple Your Memory, Prevent Dementia and Halve Your Stress Part I WEBCAST, 8:00am - 12:00pm

19WBAAP11A

129

159

Your Desk

2019 Professional Conduct & Ethics – AICPA and Washington Board CPA Regulatory Update , 8:00am - 11:30am

19ETJRMR19

189

239

Bellevue

Regulatory Ethics 3/19

4

L

Specialized Knowledge 2/11

8

Identity Theft: Preventing, Detecting, and Investigating WEBCAST, 7:30am - 3:30pm

19WBBFE11A

249

319

Your Desk

3/6

2

Blockchain Technology - What Every CPA Should Know WEBINAR, 8:00am - 10:00am

19WNCMR06A

79

99

Your Desk

1/14

8

Buying and Selling S Corporations: Tax Planning Opportunities WEBCAST, 8:30am - 4:00pm

19WBCJA14B

245

375

Your Desk

1/14

2

Capitalization, Expensing and Depreciation Update WEBINAR, 9:00am - 11:00am

19WNCJA14A

79

99

Your Desk

Taxes

1/15

2

1041 Preparation of Estates and Trusts WEBINAR, 8:00am - 10:00am

19WNCJA15A

79

99

Your Desk

1/15

8

Entity Choice - Tax Considerations WEBCAST, 8:30am - 4:00pm

19WBCJA15A

245

375

Your Desk

1/15

8

IRAs: Tax Efficient Tools for Retirement WEBCAST, 8:30am - 4:00pm

19WBCJA15B

245

375

Your Desk

1/15

8

S Corporation Preparation WEBCAST, 8:30am - 4:00pm

19WBCJA15C

245

375

Your Desk

1/16

8

Federal Tax Update: C & S Corporations, Partnerships & LLCs WEBCAST, 8:30am - 4:00pm

19WBCJA16C

245

375

Your Desk

1/16

8

Partnership: S Corporation Basis and Distribution Issues WEBCAST, 8:30am - 4:00pm

19WBCJA16B

245

375

Your Desk

1/16

8

Special Topics in Partnership and LLC Taxation WEBCAST, 8:30am - 4:00pm

19WBCJA16A

245

375

Your Desk

1/17

2

After Tax Reform: Taxation of Non-Profits WEBINAR, 10:00am - 12:00pm

19WNCJA17A

79

99

Your Desk

L Live event |  Non-tech credits |  Conference | Y Yellow Book | l Chapter event | S Season Ticket/Coupons N/A |

www.wscpa.org

Networking event | C CFP

The WashingtonCPA Winter 2019

33


EDUCATION AND EVENTS CPE Credits

Date

#

Register at www.wscpa.org/store WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Course

Code

Federal Tax Update WEBCAST, 8:00am - 4:00pm

19WWGGFJ2

300

400

Your Desk

Type

Location

Taxes 1/17

8

1/17

8

L

Federal Tax Update, 8:00am - 4:00pm

19GGFTUJA

310

410

Bellevue

1/17

8

C

Form 1041 Workshop WEBCAST, 8:30am - 4:00pm

19WBCJA17A

245

375

Your Desk

1/18

8

Planning for Small Businesses After Tax Reform WEBCAST, 7:00am - 3:00pm

19WBAJA18A

195

245

Your Desk

1/18

1

Tax Reform: What We Know Now That We Didn’t Know a Year Ago WEBINAR, 12:00pm - 12:50pm

19LLJA18

29.99

49.99

Your Desk

1/21

8

2018 Tax Advisor's Update WEBCAST, 8:00am - 4:00pm

19WWBTAU

345

445

Your Desk

2018 Tax Advisor's Update, 8:00am - 4:00pm

19BTAUJA21

355

455

Bellevue

Year-End Tax Planning: Thinking Outside the Box WEBINAR, 9:30am - 11:30am

19WNCJA21A

79

99

Your Desk

2018 Tax Advisor's Update, 8:00am - 4:00pm

19BTAUJA22

355

455

Spokane

L

1/21

8

1/21

2

1/22

8

1/22

8

Dealing with the IRS Today WEBCAST, 7:00am - 3:00pm

19WBAJA22A

195

245

Your Desk

1/22

8

Real Estate Taxation WEBCAST, 8:30am - 4:00pm

19WBCJA22A

245

375

Your Desk

1/23

2

After Tax Reform: Business Tax Update and Recent Developments WEBINAR, 8:00am - 10:00am

19WNCJA23A

79

99

Your Desk

1/23

2

After Tax Reform: Individual Tax Update and Recent Developments WEBINAR, 11:00am - 1:00pm

19WNCJA23B

79

99

Your Desk

1/23

8

Form 1041: Down to the Basics WEBCAST, 8:30am - 4:00pm

19WBCJA23B

245

375

Your Desk

1/23

8

Partnership and LLC Taxation: Advanced Issues, Including Transfers of Interests and Liquidations WEBCAST, 8:30am - 4:00pm

19WBCJA23A

245

375

Your Desk

1/23

2

Tax Reform: A Case Study Approach to Section 199A WEBCAST, 10:00am - 12:00pm

19WBBJA23A

99

129

Your Desk

1/24

8

Federal Tax Update: The Impact of the Tax Cuts Jobs Act WEBCAST, 8:30am - 4:00pm

19WBCJA24A

245

375

Your Desk

1/25

2

After Tax Reform: The Flow Through Entities Deduction WEBINAR, 8:00am - 10:00am

19WNCJA25A

79

99

Your Desk

1/25

8

Best Practices for Tax Income and Expense Recognition WEBCAST, 8:30am - 4:00pm

19WBCJA25B

245

375

Your Desk

1/25

8

S Corporations: The Fundamentals and More WEBCAST, 8:30am - 4:00pm

19WBCJA25A

245

375

Your Desk

1/28

8

Annual Tax Update: Corporations and Pass-Through Entities WEBCAST, 7:30am - 3:30pm

19WBBJA28A

249

319

Your Desk

1/28

2

New Travel & Entertainment Expense Reporting Rules WEBINAR, 11:00am - 1:00pm

19WNCJA28A

79

99

Your Desk

1/28

8

Tax Collection Defense WEBCAST, 8:30am - 4:00pm

19WBCJA28B

245

375

Your Desk

1/29

2

Capitalization, Expensing and Depreciation Update WEBINAR, 8:00am - 10:00am

19WNCJA29A

79

99

Your Desk

1/29

2

Real Estate Tax Update for Investors and Owners WEBINAR, 10:30am - 12:30pm

19WNCJA29B

79

99

Your Desk

1/30

8

Dealing with IRS Appeals WEBCAST, 8:30am - 4:00pm

19WBCJA30B

245

375

Your Desk

1/30

8

Passive Activity Losses (PAL): Comprehensive WEBCAST, 8:30am - 4:00pm

19WBCJA30A

245

375

Your Desk

1/31

8

Preparing Complex 1040s WEBCAST, 8:30am - 4:00pm

19WBCJA31A

245

375

Your Desk

2/15

1

Death is Scary Enough: Estate Tax Issues WEBINAR, 12:00pm - 12:50pm

19LLFE15

29.99

49.99

Your Desk

2/15

2

TCJA – Changes in International Tax Laws WEBCAST, 9:00am - 11:00am

19WBAFE15A

79

109

Your Desk

2/21

4

Social Security and Medicare: Maximizing Retirement Benefits WEBCAST, 10:00am - 2:00pm

19WBBFE21A

159

199

Your Desk

L

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L Live event |  Non-tech credits |  Conference | Y Yellow Book | l Chapter event | S Season Ticket/Coupons N/A |

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Register at www.wscpa.org/store Date

CPE Credits

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EDUCATION AND EVENTS

Course

Code

WSCPA Member Fee

Type

NonMember Fee

AICPA Member Discount

Location

Taxes 2/28

4

Health Care Reform Act: Critical Tax and Insurance Ramifications WEBCAST, 10:00am - 2:00pm

19WBBFE28B

159

199

Your Desk

3/8

2

TCJA – Changes in International Tax Laws WEBCAST, 9:00am - 11:00am

19WBAMR08A

79

109

Your Desk

3/28

2

Capitalization, Expensing and Depreciation Update WEBINAR, 7:00am - 9:00am

19WNCMR28A

79

99

Your Desk

Prix Fixe CPE WEBINAR SERIES

PRIX FIXE BUNDLE Members: $120 Non-members: $270 Last chance to get this 5-star CPE at a 1-star price! www.wscpa.org/prix-fixe-cpe

WEBINARS DATES Tax Reform: What We Know Now That We Didn’t Know a Year Ago 1/18/19 Don’t Be a Digital Slob: Tips from a Professional Organizer 2/1/19 Death Is Scary Enough: Estate Tax Issues 2/15/19 The GASB Guy 3/1/19 Yellow Book Updates: An Overview 3/15/19 Easy Wins for Big Problems: Information Security for Your Organization 3/29/19 Washington State Economic Outlook 4/5/19 SALT: Just Add a Touch 4/26/19 International Taxation 5/3/19 Greater Than the Sum of Its Parts: Why Diversity Matters 5/10/19 Washington Legislative Update 5/31/19 L Live event |  Non-tech credits |  Conference | Y Yellow Book | l Chapter event | S Season Ticket/Coupons N/A |

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Help us give away over $400,000 in accounting scholarships. BECOME A SCHOLARSHIP REVIEWER!

Are you interested in helping students achieve their dream of becoming a CPA? If so, please consider volunteering your time and talent to be part of the review team for the 2019 Accounting Scholarships offered by the Washington CPA Foundation and the Washington Society of CPAs. TIME COMMITMENT: 20-25 hours MAIN RESPONSIBILITIES: • Attend an online training in February. • Review applications in your home or office using a secure, online portal. • Score applications using a scoring matrix, following provided guidelines. • Each reviewer will consider 25-30 applications over two rounds and submit reviews online during a three-week period.

SIGN UP BY FEB. 8, 2019! To join the Scholarship Review Team, contact Monette Anderson: 425.586.1114 manderson@wscpa.org

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The WashingtonCPA Winter 2019

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CLASSIFIED ADS Detailed advertising information is available online at www.wscpa.org/more/marketing-to-cpas. Ads are $1 per word, with a $50 minimum fee. Active email and website addresses are included. Ads are placed on the website for 60 days when received and in the next magazine when received by the deadline, Mar. 1 for the Spring 2019 issue. Post a job listing at www.wscpa.org/ job-board. Use the Miscellaneous category for rental or vacation property. Contact Janet White at 425.586.1126, or memberservices@wscpa.org for more information. All ads must be pre-paid.

MERGERS & SALES 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! 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 Bellevue Area Practice for Sale Well-established highly profitable $1.3 million Bellevue Area tax write-up practice for sale. Substantial down payment required along with seller financing. Practice, which utilizes ATX and QuickBooks software, has assumable lease running through May 2022. Excellent staff. Seller will provide smooth transition and consider part time consulting role after closing. Contact cliff@cpasales.com or 800.779.7774. Northeast Washington CPA Firm CPA practice for sale in Northeast Washington with two full-time employees including the owner and one part-time employee. Approximately 96% of revenues are from tax preparation and tax and estate planning and 4% in write-up services. There are no audit or financial statement services provided. Gross revenues for 2017 amounted to $482,000 and net income was $284,000. The purchaser must have at least ten years experience in tax. Asking price is $575,000 including equipment valued at $25,000. Seller is willing to provide consulting and review services for a negotiated fee if desired. Contact Larry: larryz@ lzoodsma.com, or 509.684.9870. Tacoma CPA Firm Looking for One of Two Opportunities Merge with local firm willing to meet existing compensation plus gradual buyout of clients with 3 to 5 year employment contract. (Bonus: owner is ABV with business valuation experience which can expand revenues and set up practice area with buying firm,) OR, Small CPA firm (with QB emphasis) looking to expand tax practice and buyout my firm over 3 to 5 years. Contact e-mail: tdh555@yahoo.com Pierce County Client List - 1040 & Business Pierce County CPA firm seeks buyer to take over part of established practice. Owner looking to scale back existing practice. Great opportunity for a professional seeking to venture out on their own with an established starting client base or for

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an existing firm to expand their practice. Contact taxcpa1040@gmail.com with inquiries. Practice for Sale - North Seattle (grossing $202,000) This well-established tax and accounting practice has been providing service to the market since 1999. It has a very equal balance between tax and compliance services (49% of revenue) and monthly and quarterly accounting services (49%) resulting in stable, year-round cash flow. There are two accounting client niches: business owners in government office building (cafes and snack shops) and large traditional restaurants. The balance of accounting clients are in various industries including software, construction and retail to name a few. The practice prepares tax returns for most of the accounting clients as well as other individuals, corporations and partnerships. The seller plans to retire, but will be available to assist the buyer through a reasonable transition. Please contact Mr. Ken Berry at kberry@prohorizons.com or 800.729.3242 (ext. 103.) Practice for Sale - North King County This tax and accounting practice in North King County is a real gem. The owner bought it 10 years ago and has almost doubled the annual revenue over the years to $600,000. The practice has a good balance of tax compliance and preparation services (59% of revenue) and accounting/bookkeeping services (37%), which results in stable year-round revenue. The seller plans to retire, but will be available to support the buyer through transition. Note: The seller owns the office space and wishes to sell it along with the practice. This significantly improves the buyer's borrowing power with lenders. Please contact Mr. Ken Berry at kberry@prohorizons.com, or call 800.729.3242 (ext. 103.) Practice for Sale - Kirkland (grossing $255,000) This CPA practice was started from scratch in 1994. Today, the practice provides tax compliance and preparation services (80% of revenue) and accounting services (16%) to approximately 240 clients. The ideal buyer has some depth of experience with estate and trust tax returns (18% of the tax return revenue) as well as individual, corporate and partnership returns. The seller is planning to retire but available to assist the buyer through transition and even work for the buyer for a short period if that would be helpful. Please contact Mr. Ken Berry at kberry@prohorizons.com or 800.729.3242 (103). Established Eastside Tax & Accounting Practice Private Practice Transitions is assisting a client, located on the Eastside, with the sale of a busy tax and accounting firm. This owner-operated S-Corp was formed in 2006, and has a service breakdown by revenue of 55% Individual Tax Prep, 24% Business Tax Prep, 20% Bookkeeping/Payroll, and 1% from consulting services. The firm prepares approximately 400 returns each year and is centrally located in a well-established, thriving market, poised for explosive growth. With average gross revenues of over $227,000 the last three years (2015-2017) and 2017 adjusted Seller’s Discretionary Earnings (SDE) of over $152,000, you don’t want to miss out on this amazing opportunity. Email info@ privatepracticetransitions.com or call253.509.9224. Unique Pacific Northwest Tax & Accounting Practice Private Practice Transitions is assisting a client in Oregon with the sale of a highly unique, private

tax and accounting practice. This Practice caters specifically to the owners of cannabis businesses in Oregon with potentialto service parts ofWashington and California. The cannabis industry is regarded by many to be the fastest growing industry in the USA and is expected to remain so for manyyears into the future. The current service breakdown by revenue is approximately 58% Bookkeeping/Accounting, 8% CEO/CFO & Consulting Services, 34% Tax Preparation, and 2% Other Consulting. With 2017 gross revenues of approximately $150,000, and 2018 projected revenues to be closer to $200,000, this is a great opportunity for an existing firm to add this unique service offering in an expanding marketplace, or for a solo accountant looking to start his/her own practice with an established book of business. The Practice’s website receives a lot of traffic averaging over 500 hits per month. Email info@privatepracticetransitions.com or call 253.509.9224. Lucrative Eastside Tax & Accounting Practice Private Practice Transitions is assisting a client, located on the Eastside, with the sale of a busy tax and accounting firm. This owner has been in practice for over 37 years and desires to sell the business as a turn-key operation. The firm files more than 1,000 tax returns each year for both business and high net worth individuals. While Individual Tax preparation accounts for about 65% of the firm’s business, 30% comes from Business Tax preparation, Bookkeeping and Accounting, 3% comes from Consulting Services, with the remaining 2% from Review and Compilation work. The firm is centrally located in a well-established, thriving market, and poised for explosive growth. The firm employs five staff in a fully furnished office. With 2017 gross revenues over $1,150,000, you don’t want to miss out on this amazing opportunity. Email info@privatepracticetransitions.com or call 253.509.9224. Established Pierce County Tax & Accounting Practice Private Practice Transitions is assisting a client in Pierce County with the sale of a profitable, turn-key, private tax & accounting practice. The service breakdown by revenue is approximately 57% Personal Tax Services, 32% Business Tax Services, 7% U.S. Tax Services, 3% Trusts & Estates, and 1% Other. The Practice is located in a ~1,900 square foot office building that is also available for sale. With 2017 gross revenues of approximately $610,000, and 6% year-over-year growth as compared to 2016, you don't want to miss out on this fantastic opportunity. Email info@privatepracticetransitions. com or call 253.509.9224. Extremely Profitable Eastside Tax & Accounting Practice Private Practice Transitions is assisting a client located in King County with the sale of a highly profitable, turn-key private tax & accounting practice. The owner has over 28 years of experience operating a successful practice and has a service breakdown by revenue of 61% Individual Tax, 35% Business Tax, and 4% Financial Statements. Operating from a home office, the Practice has 2018 gross revenues of approximately $108,000, and net income of nearly $100,000. If you are interested in exploring this opportunity, would like the freedom to be your own boss and build upon a successful practice, then this practice is perfect for you! Email info@privatepracticetransitions.com or call 253.509.9224.

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CLASSIFIED ADS Growing West King County Tax & Accounting Practice Private Practice Transitions is assisting a client located in West King County with the sale of a profitable, turn-key private tax & accounting practice. The practice was founded over 25 years ago and has a service breakdown by revenue of 52% 1040 Preparation, 23% Bookkeeping/Accounting/ Compilations, 13% 1120/1120s Preparation and 12% Other. With 2017 gross revenues of approximately $193,000, and 7.3% year-over-year growth as compared to 2016, you don’t want to miss out on

this exciting opportunity. Email info@privatepracticetransitions.com or call 253.509.9224.

VOLUNTEER OPPORTUNITIES The following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters. Learn more about these and other organizations that need your help, under Volunteer Opportunities for CPAs, at www.wscpa.org/more/marketing-to-cpas

(WA 1127) Vancouver: This CPA practice that focuses on the preparation of income tax returns is for sale. The firm’s revenue stream is almost all from the preparation of income tax returns with the exact percentage equaling 90%. The

balance of the annual fees are earned from write up and payroll services which are approx. 10% of revenues. Reflecting a service commitment, the Seller is a very hands on in assisting clients in conducting their business affairs to minimize their tax burdens. The bulk of these clients are small business clients who require these services and consist of professionals of all types. With the elements of trust and accountability of the owner, this firm is a very solid practice with clients that return year after year. All this in a firm with an excellent cash flow and a great opportunity for a variety of buyers.

ACROSS 7 Clear out 8 Up to that time 9 Theory of navigation through air 10 Happiness 11 Part of cockpit

DOWN 1 International championship matches 2 Try to keep up _________ 3 Filmed auditions 4 Domain of a single mindset 5 Instrument for determining quantities of heat 6 Call for

For the answers to this issue’s crossword, don’t forget to check out the WSCPA blog!



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Lifetime Advocacy Plus

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Martin Luther King Family Center

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Eastside Pathways

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EKARI

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Gather Together, Grow Together

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American Marketing Association Puget Sound

(WA 1129) Burien, Kent, Federal Way Area: This CPA practice has a nice balance of income tax and write up work on an annual basis. Tax services provide 65% of revenues with write up equaling 35% on an annual basis. The fees in the write up area are excellent and provide a solid contribution to the bottom line. The tax services offer the immediate opportunity to increase the realization rate by streamlining these processes. All of these attributes provide an excellent opportunity for a variety of practitioners looking to acquire an excellent practice.

(WA 1128) Seattle: This EA practice for sale is a tax practice as 100% of all revenues are generated from the preparation of income tax returns. The firm benefits from a very strong referral network

Crossword Puzzle

United Way of King County

of technology based employees from these employers in the Seattle marketplace. With the clients whether existing or new sharing similar employers, the commonality of tax issues makes for reasonablycomplex returns allowing a degree of specialization in these issues on an annual basis. As a result, the returns have an excellent average fee and an excellent net cash flow to owners equaling 83% of gross fees. This firm presents a number of opportunities for a practitioner to acquire a practice to add to an existing or new firm with a very profitable addition to the bottom line.

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: (WA 1126) Island County: This well-established enrolled agent practice is for sale. The firm is well balanced with a tax practice that produces 75% of revenue and a write-up practice that generates the balance. The practice is well positioned for future growth due to having a solid staff serving long-term clients. The Seller is retiring but will be available to assist in transition. For any firm looking for a satellite office, an existing practice wishing to branch out, or an individual who has aspirations of getting out on their own, this practice is an excellent choice. The Seller, to assist in the sale, will consider financing the purchase of the practice provided the Buyer makes a substantial down payment and has excellent credit and collateral.

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The WashingtonCPA Winter 2019

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MEMBER PROFILE

Unapologetically You: Bavan Holloway By Cory Wilmarth

© Tino Tran

It takes confidence and convictions to be a great on the People of Color Executive Council, which partleader. Bavan Holloway, CPA, vice president of Corporate ners with local organizations to hold the annual Stand Audit at The Boeing Company, approaches life with the Against Racism. Last year’s event focused on addressphilosophy that one’s uniqueness should be cultivated ing mental health issues and the impact they have on and celebrated. With that in mind, Bavan mentors those communities of color. around her to help them become their best selves or, in One way that Bavan expresses her values is the her words, “unapologetically you.” collection of tattoos she has amassed over the years. Born and raised in Chicago, Bavan’s bold and outgoOn her left arm, there is an inscription of the word ing personality stood out at a young age. “I was prob“strength.” The tattoo on her right arm reads, “She’s ably a bit of a tomboy,” she clothed with strength said. Bavan loved to play and dignity and she sports, namely basketball, speaks with wisdom.” baseball, softball, and a Bavan got her first tattoo bit of track. She still enjoys at the age of 49. She sports now as a spectator, contemplated getting college football being her one for a long time, only main interest. wanting one that would Bavan graduated with be meaningful. her B.S. in Business AdminGoing forward, Bavan istration from the University hopes to find more ways of Tulsa, with a focus in she can mentor her colaccounting. Though she leagues and influence initially pursued engineerothers through faith-based ing, it was clear after one leadership. She is also consemester that accounting sidering the possibility of was a field much more true getting another tattoo, but to her skills and nature. She she is in no hurry. Recently, earned her CPA not long she got a tattoo depicting a Bavan Holloway with singer and activist Angélique phoenix with the words “still after graduation and, after 12 years of dedicated work, I rise,” echoing the words of Kidjo at the YWCA's 2017 Inspire Luncheon. was made partner at KPMG. Maya Angelou. Now at Boeing, Bavan finds the most rewarding Whatever the future holds, Bavan will approach it with part of her job to be “helping employees understand the courage of her convictions. “You have to know who you and develop their unique skill set and how that adds are and what’s important to you,” she said. “It is critically value to the company, whatever it is.” She also serves important to be true to yourself, to be who you are and not as head of Boeing’s Enterprise Auditor program, a someone else. Don’t allow yourself to be compromised, mid-career development opportunity designed to even while you’re still learning and growing.” develop future leaders. Outside of work, Bavan still strives to bring out the best in others. “I’m the mother of three, wife of one, so family is really important,” said Bavan. The three pillars of her life Cory Wilmarth is the Communication, are family, faith, and community and she demonstrates Design, and Social Media Coordinator for her devotion to each. She is also a board member at the the WSCPA. To nominate a member to be YWCA Seattle | King | Snohomish. featured in the next member profile, you At the YWCA, one of Bavan’s favorite events is can contact him at cwilmarth@wscpa.org. Shades of Leadership. This event provides mentorship to young girls of color with an interest in the STEM field, particularly programming or robotics. She serves also www.wscpa.org

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Need a moment to relax this season?

2019 is here and you’re busier than ever. Manage your time, relieve some stress, and save money with these WSCPA Passport card deals: • Dinner Daily — 20% off membership, plus two weeks of free, easy meals. • Wag Pet Care — 10% all services. Your pet will be in good hands while you work. • Sennheiser Electronics — 50% off noise-canceling headphones to help you concentrate.

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Profile for Washington Society of CPAs

WashingtonCPA 2019 Winter  

The official publication of the Washington Society of Certified Public Accountants

WashingtonCPA 2019 Winter  

The official publication of the Washington Society of Certified Public Accountants

Profile for wscpa