ASCPA November Magazine 2013

ALABAMA CPA MAGAZINE I NOVEMBER 2013

Practice Management Issue

The Alabama CPA MAGAZINE Alabama Society of Certified Public Accountants P.O. Box 242987 Montgomery, Alabama 36124-2987 1-800-227-1711 334-834-7650 www.ascpa.org Officers Renee B. Hubbard, Chair Don McCleod, Chair-Elect Dr. Lowell S. Broom, Vice-Chair James R. L. Carroll, Secretary-Treasurer Steven A. Shelton, Past Chair Board of Directors James Adam Causey Allison H. Guice Paul Marcus Hamilton Kate J. Ham Sharon S. Jackson Robert Rush Letson III Bradford A. Lynch Jason L. Miller Amanda N. Paul Michael C. Reibling Matthew T. Roeder Lewis T. Shreve Chasity L. Sweatmon Daniel K. Tew Alison Nicole Cunningham, Young CPA Lindsey S. Weems, Young CPA AICPA Council Members William H. Carr Renee B. Hubbard E. Lamar Reeves Jimmy L. Williamson, Past Chair, AICPA The Alabama CPA Magazine is published by Alabama Society of Certified Public Accountants as a membership service to Society members.

Views and opinions appearing in this publication are not necessarily endorsed by the ASCPA. The deadline for submitting materials for publication is the first of the month preceding issue date.

Jeannine P. Birmingham, CPA, CAE, CGMA President and CEO Diane L. Christy, Editor

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Message from the Chair...

This month’s issue is focused on practice management. As I thought about the variety of issues that encompass this subject I wasn’t really sure where to start but decided to focus on my favorite part of practice management, “the village”.

Last month our firm held our annual “Firm Focus Day”. We closed all of our offices and met together to discuss our past year’s successes (personal and professional), where we are now, and where we want to go. But really, the day is set aside for a more important purpose. As the firm has grown, it has become increasingly difficult to get to know everyone, especially those who may work in a different location or business area. So this day provides everyone an opportunity to connect. Our guest speaker this year was Pete Blank, a former Disney employee and author of the book, Employee Engagement Lessons from the Mouse House.

Pete’s message to us was very simple. In order for a company to be successful its employees need to be “engaged”. In order for engagement to occur at least one of the following must be true: the employee loves their JOB, the employee loves their COMPANY, the employee loves their TEAM or the employee loves their LEADER. Now, think about why you are where you are today. Are you there because you love what you do, you love the company you work for, you love the group you work with or because you love your leader? An engaged employee should be able to answer yes to at least one of these!

As a recruiter I have the opportunity to meet accounting students from around the state. These students are looking for a place to start their career; somewhere they can be engaged. I have found that most people tend to be engaged when they are provided a work environment that encourages leadership and development and where effort is recognized and rewarded.

Sometimes management can place too much focus on policies and procedures; forgetting that the people are the most important part of any organization. If you are in a management role in your organization take time to focus on those you supervise. Spend time coaching and developing them because without engaged employees your client service will eventually suffer. According to Pete, we lead and develop “because we know the value that each and every employee can bring to the organization”.

I love this time of year! The October 15th deadline has passed, football season is in full swing and Thanksgiving is almost here. I am very thankful for the people who are part of “my village”. Remember to take time to thank those who are contributing to your success.

Rene No one who achieves success does so without the help of others. The wise and confident acknowledge this help with gratitude. – Alfred N. Whitehead

Time’s a tickin’……..

If your firm’s Peer Review is due by December 31, 2013 don’t wait until the last minute.

Complete your paperwork and submit it as soon as possible.

The final peer review committee meeting for 2013 will be held on December 12.

For more information contact Peer Review Administrator Shirley Carroll scarroll@ascpa.org or 334.386.5755.

The Alabama CPA MAGAZINE

26th Annual Governmental Accounting and Auditing Forum

December 11th and 12th

Solving thePuzzle

December 11

December 12

8:45-9:00 Opening Remarks 9:00-10:30 GASB Update 10:45-12:00 Economic Update 12:00 - 1:15 Luncheon/Association Recap 1:30-3:00 The Financial Report of the U.S. Government and its Link to Intergovernmental Financial Dependency by State and Local Governments 3:15-4:30 The National Streamlined Sales Tax Project and “One Spot”.

8:30-8:45 Opening Remarks 8:45-10:15 State of the State 10:30-12:00 The Ramifications of Identity Theft 12:00-1:00 Buffet Lunch - No speaker 1:15-2:30 GASB 67 / GASB 68 1:15-2:30 Auditing Update 2:45-4:30 Internal Controls for the State and Local Government

DECEMBER 11-12, 2013

The Alabama CPA MAGAZINE

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Selecting A Cloud

Accounting Strategy for a Public Accounting Practice

By William R. Barefoot, CPA SCACPA member since 1998 loud accounting – by now, most of us have heard the term. What is it? Should I be doing it? What are the issues?

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WHAT is iT? The term may be new, but the concept is as old as computers themselves. When computers came into vogue in the 1950s, it was predicted that computing services would end up being sold just like electricity or other utilities. Customers would own “dumb” terminals, devices without storage or computing capacity, and buy storage and computing services from a handful of providers.

Many of us in the accounting profession witnessed the “technology boom” of the 80s and 90s. During that time, the prices for personal computers and network servers became more affordable for small business. Therefore, enterprises brought their data processing in house, purchased their own hardware and hired information technology professionals to keep it all working properly. SMEs did the same with their accounting services. They brought their accounting services in-house and invested heavily in hardware, accounting software and accounting personnel. But a few years ago, the status quo for in-house computing and accounting was given an alternative. The alternative was to forego the increasing costs in hardware, software and personnel and to once again outsource those services. Providers of web-based accounting, computing and storage services were popping up on the scene. Cloud accounting is the term for providing accounting, computing and storage services through Web-based applications.

A couple of years ago, the AICPA and CPA2biz began a campaign to get firms to move to providing accounting services “in the cloud.”

Our firm decided we wanted to explore offering cloud accounting services to our clients. There are several points to consider before deciding if cloud accounting services are right for your firm.

Find a champion – Do you have someone willing to take the lead in championing this service,

“But a few years ago, the status quo for in-house computing and accounting was given an alternative.

The alternative was to forego the increasing costs in hardware, software and personnel and to once again outsource those services.”

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both externally and internally? This probably needs to be someone in senior management or owner/ partner level. The person(s) needs to be an early adopter of change and be willing to take criticism as the challenges of doing things differently are being experienced.

Explore your options – There are many third-party vendors now who will partner with CPAs to provide accounting services. The AICPA has preferred providers that you should check out. However, you should not overlook those not listed with the AICPA. In any case, you will want to perform due diligence for security, reliability, service, backup procedures and maintaining client confidentiality.

Partner “buy-in” – You will be more successful if you have the support of all your partners. There may be some resistance to changing the way accounting services are provided to your clients. If possible, you should try to address their concerns before launching cloud accounting services.

How will my clients react? – Obviously this is very important. Some clients are more than happy to change the way they provide and receive information; others may not be so willing.

Do you force everyone to change to the “new and improved” method, or do you allow them to choose? Is it a gradual change or do you give a deadline for making the switch? In talking with other CPAs that are providing cloud accounting services I learned that it is being done different ways.

Can I do this profitably? – Another concern is pricing engagements. One of the reasons SMEs took their accounting back in house is they determined they could do this cheaper themselves.

In order to earn back these services, we Technology have to show them an economic advantage to do so without losing money ourselves. This can be challenging. I once heard someone say that if the fees for outsourcing services are three-fourths what it cost to perform in-house, then maybe it should be done in-house. What is not always considered are the hidden costs of performing a function.

Discovering those hidden costs is critical in being able to properly price outsourced services and, perhaps more importantly, selling those services to your clients.

Staff training – How long will it take to get staff trained on new procedures and software?

Do you have the right staff for cloud accounting services? You should allow enough time for staff to get trained and in some cases certified with the new applications. The learning curve may lead to lower realization numbers for a while. This is an investment in the future of your firm you should be willing to make in order to be successful. If you do not provide the necessary training and support, your staff may become unhappy and leave the firm.

These are some of the main things to consider

“The learning curve may lead to lower realization numbers for a while.

This is an investment in the future of your firm you should be willing to make in order to be successful.” before adopting a cloud accounting services niche.

Next are some initial concerns I had of cloud accounting services.

WHAT SHOULD I BE CONCERNED ABOUT? A chief concern I have is whether the cloud applications and/or providers deliver what I promise. There are two ways to provide cloud accounting services – cloud accounting applications and hosted services. With cloud accounting applications you log into the application directly. An example of a hosted service is when a third party provides a network you access on the web and hosts an application on their network.

With either service, you have to depend on that provider to deliver so it doesn’t reflect negatively on your reputation.

Security – Will your client’s information be safe? The conventional wisdom is that your data will be safer than on your local server because the companies providing the service can afford better security. I hear about data breaches too often it seems, so it is still something to consider.

How reliable is their application/ network? - I don’t want calls from clients telling me they cannot access their information. Most cloud accounting companies can provide you with statistics for down-time. You should ask about it.

Portability – Most cloud accounting providers have proprietary technology. So, if your client becomes dissatisfied with XYZ and decides to switch providers, their data may not import into another cloud accounting service. Maintaining and accessing historical data may be a challenge.

Competition for clients – Some cloud accounting service providers may be competing directly with you for new clients and possibly for Continued on page 17 The Alabama CPA MAGAZINE

Doing It Better

Bill Balhoff Elected Chairman of AICPA

AICPA’s New “Center for Plain English Accounting” has Alabama Roots Dr. Tom Ratcliffe will be Technical Director

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illiam E. Balhoff is the new chairman of the board of directors of the American Institute of CPAs, the world’s largest member organization representing the accounting profession.

In his acceptance speech, Balhoff recalled his first boss as a CPA, Alexander Postlethwaite, who instilled the idea that superior service to clients should take precedence over profits or firm growth. As a legacy of that focus on quality and integrity, Balhoff announced the creation of the AICPA Center William Balhoff for Plain English Accounting, a one-stop, technical resource for small to midsize firms looking to cut through complexity and provide the best possible accounting and auditing services for clients.

“The quality of our work and our people are the two most important factors in establishing and maintaining our profession’s reputation,” said Balhoff, CPA, CGMA, CFF, managing director and CEO of Postlethwaite & Netterville in Baton Rouge, La. “CPAs take pride in doing the right thing, the right way. Clients and employers experience that quality and respond to it.”

Center for Plain English Accounting What services will the center provide? The AICPA Center for Plain English Accounting (CPEA) will provide timely and detailed accounting and assurance (A&A) guidance to Private Companies Practice Section firm members who subscribe to CPEA. Many of the largest accounting firms have centralized capabilities that provide engagement teams with A&A guidance and handle A&A inquiries. The CPEA will fill a similar role as a “national office” for smaller firms. In most instances, these services will be free for PCPS subscribers; however, answers to highly complex questions that require extensive research may require a fee.

How is this different from what the AICPA currently provides? The AICPA offers toolkits, publications and access to a member service hotline that can provide oral answers to a range of questions about professional issues. While any member will still be able to obtain these valuable services from the AICPA, the CPEA will be a central, one-stop resource center to help PCPS subscribers understand and apply A&A standards.

CPEA will offer monthly reports, written in plain English, on topical and relevant A&A matters.

This monthly guidance will be supplemented by a series of eight webcasts, additional reports addressing new topics on a timely basis, as well as the ability to submit written inquires and receive The Alabama CPA MAGAZINE

written technical responses. All of this and more will come from staffers who are recognized experts in accounting, compilation, review audit, attestation and quality control issues and who understand PCPS member firms and the clients they serve.

Who will run the center? The technical director of CPEA will be Dr. Tom Ratcliffe, CPA, a highly respected and nationally-known authority on A&A. The CPEA will also include Bob Durak, currently the AICPA’s director of private company financial reporting, along with two highly qualified technical senior managers, all of whom have experience in serving and working with PCPS. Also involved with CPEA are Mark Koziel, CPA, CGMA, the AICPA’s vice president for firm services and global alliances, and Chuck Landes, CPA, the AICPA’s vice president for professional standards and services.

How did the center come about? The creation of CPEA came about as a result of merging

the talents and resources of Plain-English Accounting, LLC with the AICPA. Due to the complexity of A&A practices in PCPS member firms, the AICPA is committed to providing smaller firms with the tools, guidance and resources they need to serve their clients in a high quality manner. The CPEA was created for that exact purpose.

Who is eligible to join CPEA? CPA firms who are members of the AICPA’s Private Companies Practice Section (PCPS). The center is designed for small to midsize firms, since the largest firms may have these capabilities themselves.

Firms who are already subscribers to Dr. Ratcliffe’s Plain-English Accounting, LLC will automatically be moved over to CPEA regardless of whether or not they are PCPS members.

When will the center launch? CPEA will be available to PCPS member firms who are not already subscribers to Plain-English Accounting, LLC on November 1. A more formal rollout of CPEA will occur after April 15, 2014.

About Dr. Tom Ratcliffe:

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he Center for Plain English Accounting is an extension of work that Dr. Thomas A. Ratcliffe, CPA, director emeritus of the School of Accountancy at Troy University, past chair of the Alabama Society and nationally-known accounting and auditing thought leader, writer and advisor has been doing for most of his career. Ratcliffe served as a member of the Auditing Standards Board (ASB), the AICPA senior technical committee responsible for developing auditing, attestation, and quality control standards, during the development of the clarified and converged auditing and quality control standards. During his tenure with the ASB, he also served as a member of the Audit Issues Task Force.

Prior to joining the ASB, Ratcliffe served as chair and as a member of the AICPA Accounting and Review Services Committee, and he served on the AICPA Council. He also is the primary contributing author to the AICPA Guide Tom Ratcliff for Compilation and Review Engagements. He served as a founding member of the Private Company Financial Reporting Committee. In addition to many other service roles, he still serves as a member of the auditing panel for The Journal of Accountancy.

In addition, Ratcliffe serves as the accounting and auditing technical advisor to six different associations of CPA firms. For 25 years, he authored the Bisk Education monthly Accounting and Auditing Report, the widely-used monthly update of accounting and auditing issues that is distributed nationally to CPAs in public practice and industry. Also, he is a speaker through webbased programs, including those offered through his Plain-English Accounting membership program.

Ratcliffe earned his Ph.D. at the University of Alabama. He has published more than 100 technical works in accounting and auditing, including several books and other documents that are widely-utilized in practice. In 2004, based on both the quality and the quantity of his publications, he was recognized as one of the most prolific authors in the accounting profession.

Ratcliffe has received numerous research and teaching awards throughout his career, including the Alabama Society of CPAs’ Outstanding Professional Educator award. After winning that award for seven consecutive years, the Alabama Society renamed the award in his honor. In 2013, he received the Lifetime Achievement Award, the Society’s highest recognition.

In addition to his advisory and technical consulting roles with various firm associations, Ratcliffe serves as senior accounting and auditing technical advisor for Warren Averett, LLC. The combination of his experiences as a practitioner, and as an educator, enables him to explain complex practical issues in a manner that is easily understood by fellow practitioners.

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MEMBERS IN MOTION Promotions and New Positions Jessup, Ingram, Burns & Associates, LLP is pleased to announce the recent hire of Daniel Johnson. Daniel has worked for 6 years in public accounting in the Chicagoland area, in both assurance and tax services. His primary area Daniel Johnson of expertise is in the real estate and construction industry and the employee benefit industry. Prior to his return to public accounting, he worked overseas for two years as a small business and accounting consultant.

Smith, Dukes and Buckalew, LLP announced that Melissa D. Archibald has been promoted to assurance senior in the Mobile office. Archibald joined the firm’s audit department in 2010 and has participated in numerous audits of governmental entities, not-for-profits, manufacturing companies, and employee benefit plans. She also has experience in reviews and compilations of not-for-profits as well as experience in individual and partnership taxation. Archibald received her bachelor’s degree in accounting from The University of Alabama and her master’s in accounting from The University of South Alabama. She serves on the Alliance Board of Distinguished Young Women.

Practice Advisor from a nationwide pool of candidates. Wells was the only accounting professional from Alabama included in the list.

Community News Frank Lamar of Warren AvJason Wells erett Wilson Price was named to the Alabama Independent School Association (AISA) Hall of Fame last August. He was recognized for his more than 20 years of service to Autauga Academy and to the AISA. He completed tax returns and Frank Lamar financial statements for the Academy pro bono while sending all three of his children there. Five of his grandchildren currently attend the school. He is a charter member of the Prattville Rotary and has chaired boards of the Prattville YMCA, Prattville Area Chamber of Commerce

and the Autauga County United Way. He is a past campaign chair of the United Way and continues to serve on their board of directors.

The Alabama Federal Tax Clinic, Inc. appointed Robert L. Ingram, Jr., a partner with Jessup, Ingram, Burns & Associates, LLP, as its board president for 2013. The Alabama Federal Tax Clinic’s Board of Directors is comprised of CPAs and tax at- Robert Ingram torneys who practice in Alabama. Founded in 1947, The Alabama Federal Tax Clinic has provided quality educational service to CPAs and tax attorneys in

the southeast. The Clinic provides scholarships to students enrolled in the Masters of Accountancy program and in the School of Law of The University of Alabama. The Clinic is sponsored by The University of Alabama College of Continuing Studies, Alabama Society of Certified Public Accountants and the Alabama State Bar.

Barry Crabb recently joined the City of Montgomery as finance director. Crabb is a graduate of the University of Alabama and worked with Ernst & Whinney (now EY) for more than 5 years. He returned to Montgomery to join Weil Brothers Barry Crabb Cotton where he filled a number of financial positions for 25 years. Although Weil Brothers closed in 2010 after 130 years as an international cotton merchant, Crabb remained with them until 2013 performing financial and tax consulting work for both the company and Weil family members.Vickery, wh

Awards and New Designations

Richard, Harris, Ingram and Bozeman Celebrates 65 years.

Terry Mitchell, principal of Jackson Thornton Utilities Con-sultants, was honored with an Award of Excellence by the National Society of Accountants for Cooperatives (NSAC). Mitchell served as the National Director to NSAC for the Electric Cooperative Chapter 2007-2013. Rod Ballard, Terry Mitchell principal and leader of Continuum Training + Education, a division of Jackson Thornton was inducted into the Troy University Accounting Hall of Honor. Ballard is a 1993 graduate of Troy University and is based in Jackson Thornton’s Nashville office.

Rod Ballard Jason Wells, principal in the business valuation and litigation services group, was recognized as a 2013 Top 40 Under 40 by CPA

Montgomery accounting firm Richard, Harris, Ingram and Bozeman, P.C., marks its 65th anniversary this fall. Founded in 1948 by Fred A. Richard (1914 – 2002), the firm has seen many changes in tax law, accounting standards, laws and regulations, and in the firm’s many names and faces, adding partners/shareholders Jack S. Harris (1928 – 2005) in 1952, Shelby F. Ingram, Jr., in 1974, and Lynne Bozeman in 1991. Since its formation, the firm has distinguished itself by its service – to our country, the accounting profession, the community, and clients.

The firm has provided services to businesses and other entities, large and small, through the years, but has in recent years emerged as more of a “boutique” practice focused on smaller entities – individuals, businesses, not-for-profits, governments, and school boards – providing all tax services, bookkeeping, accounting, auditing, consulting, and financial planning requested for clients. Although the firm continues to serve larger clients, the firm considers small client service to be a special niche.

As the firm marks this significant milestone, current shareholders Shelby Ingram and Lynne Bozeman paused to reflect on the firm’s longevity and their long association with the firm.

Ingram marks his 45th year with the firm and noted, “The success of the firm is due in large part to the loyal clients we have been honored to serve and our experienced, caring staff”. When asked for her thoughts on the firm and her 30-year tenure, Bozeman explained, “I really love my job. I enjoy coming in every day for the always challenging work and mostly for the people I work with – clients and our personnel – they’re the best.”

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The Alabama CPA MAGAZINE

DOING IT BETTER

By Ramona R. Farrell and David C. Jorgensen, CalCPA

Experience Counts The Power of Recruiting Through Interns

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person’s internship experience with a firm can often be the determining factor in accepting a full-time job offer from that firm.

The internship experience of can also be critical to their referral of other potential student interns.

ASCPA: According to James White, an accounting major at Huntingdon College, current ASCPA intern and president of their accounting club, students can network to get inside information from a student who has either gotten an offer for permanent placement or whose internship has ended.

A direct referral is just one of several ways for students to secure internships. Other resources include: •C ollege Career Center Postings: Career centers will coordinate campus interview days for potential employers. In some instances, accounting firms are able to screen internship candidates and select those students the firm wants to interview.

•M eet and Greet Events: The accounting societies, Beta Alpha Psi and NABA chapters at Alabama universities often coordinate Meet the Firms events for accounting students.

ASCPA: Accounting Interview Day: The ASCPA’s fall event produces results for the firms who participate. Kyle Demeester, who attended on behalf of Huntsville firm Beason & Nalley (and who also attended Accounting Interview Day as a student when was graduating with his MAcc) said “We were really impressed with the quality of students we met. We did second interviews with 7 of them and plan on making an offer to at least one, possibly two.

Accounting Interview Day made sense for us with so many students, already vetted by their departments.”

ASCPA: According to John Shank of Barfield Murphy Shank & Smith, the firm is better able to handle the large influx of business that comes in during tax season and knows “the extra support interns provide allows the firm to acquire new clients and grow our business.”

In addition, Shank believes there is a side benefit in that the intern brings a fresh set of eyes that can provide suggestions on new and innovative ways of doing old processes.

For many businesses, relying on interns and providing them with training (projects a first-year staff professional might experience) has a significant impact on the decision to hire student interns once they graduate from college. An internship may provide a smooth transition for the college student into full-time employment and provides the ability for the new hire to be a productive member of the firm from day one.

ASCPA: Earl Blackmon, partner at Hartmann, Blackmon, & Kilgore, P.C. (HBK), is a strong supporter of internship programs and knows the benefit derived by his firm. Early exposure to what it will be like to have a career in public accounting, and what areas might best suit an intern are invaluable, believes Blackmon.

By bringing interns into a professional set-

ting, “the firm has the ability to choose first-year hires from a pool of interns who are already trained and familiar with the firm and its methods. In addition, the intern learns what a career as a CPA entails and the many areas they may specialize in.”

Whether you are looking for temporary assistance or a new entry-level accountant, consider recruiting an intern through your local universities and by advertising in the Alabama CPA magazine, or The General Ledger student e-zine, published digitally three times per year.

Your willingness to add interns to your firm provides valuable experience for college students who aspire to become CPAs. Firms of all sizes have successfully relied upon the internship process to fill temporary needs and fulltime positions with successful results for the intern and the accounting firm. ______ Ramona R. Farrell <rfarrell@ueltzen.com> is a managing partner at Ueltzen & Company, LLP. David C. Jorgensen <davidj@kramerolsen.com> is a managing partner at Kramer & Olsen Accountancy Corporation. They are members of the CalCPA MAP Committee. Reprinted with permission of the California Society of CPAs with additional contributions from ASCPA members.

Many students seek accounting internships for the work experience, and while being a paid intern might be ideal for a student, there is the opportunity for students who need additional credit units to enroll in an approved internship course that offers college credit for qualified internships. A professor evaluates and approves the internship opportunity and learning experience.

Students should be encouraged to seek internships with local and regional firms. The experiences and learning opportunities at an accounting firm other than one of the Big Four can be invaluable. For the sole practitioner or smaller accounting firm, interns have more of an opportunity to assist in all aspects of operating an accounting practice, which may benefit them later. And interns may provide valuable assistance especially in preparation for or during the busy season.

The Alabama CPA MAGAZINE

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Interested in the ASCPA’s 2013 Leadership Academy?

Here is some information which may help you.

Who will attend?

Members in good standing of the Alabama Society of CPAs who have 3-8 years in public accounting, industry, government or education. The emphasis is on emerging professionals.

How much time will I have to commit?

The Academy will consist of four one-day session: May 2 and September 19 in 2014; January 9 and May 7 in 2015. There will also be webinars, required reading, coaching calls and projects.

Where will the sessions be held?

All sessions will be at the Alabama Society of CPAs’ training space in Montgomery, 1041 Longfield Court. Most sessions are scheduled for Fridays, minimizing disruption of your weekly schedule.

Who will lead the training and why were they chosen?

The Rainmaker Academy of Nashville was chosen after a rigorous vetting process.

They are experts at this kind of intensive training, came highly recommended and work exclusively with CPAs.

Why do I need a managing partner or industry equivalent to sign off on my application?

Having a managing partner (or equivalent) on board is a vital part of your program. They will participate in coaching calls with you and Rainmaker between sessions, help you as you develop projects to benefit your organization, and will act as a mentor during your Academy training.

How will my participation benefit my organization?

This training will provide each candidate with a set of life skills. You will become a valuable asset with a broad range of tools that extend well beyond your specific job title. In addition, Rainmaker encourages cascade training back at your office, so that you reinforce your new skills by sharing them with colleagues.

How many hours of CPE will I earn?

The training will result in a minimum of 32 CPE eligible hours. There may also be some CPE available for the webcasts you will be attending between in-person sessions. We’ll provide you with that information as you begin the Academy and will automatically add your hours to the comprehensive CPE transcript which the Society maintains for you. The first two sessions will be reported in 2014, the second two in 2015.

The Birmingham Chapter of the YCPAs invites you and your staff to help give the families of the Birmingham Salvation Army Transitional Housing Unit a Christmas they will never forget!

Each winter, the YCPA Birmingham chapter raises funds, purchases and wraps Christmas gifts and provides an evening with Santa for the families in transitional housing units of the Birmingham Salvation Army.

How you can help: • Be your firm’s Operation Christmas fundraising chair • Volunteer as a shopper to purchase gifts • Volunteer as a gift wrapper to wrap all the gifts • Attend the Christmas party to experience the fun and encourage the families Important Dates: • Friday, December 6- All donations are due • Wednesday, December 11, 6:00 pm – Wrapping party at Sellers, Richardson, Holman & West, LLP • Thursday, December 12, 6:00 pm – Christmas party at the Salvation Army for the transitional housing families To participate or donate, contact Josh Skelton at jskelton@cricpa.com 205-949-8665 8

What is the cost and who will pay it?

The overall cost for each candidate is $1000.

For Alabama Society members, the ASCPA supports 50% of the fees. That leaves $500 which you, your organization or some combination of the two, is responsible for paying.

What will be my commitment to the Society following graduation?

You will be expected to serve in a leadership role within your local chapter, with the Society’s Young CPAs, for a major project of the Society or on one of the standing committees of the ASCPA.

Want more information, or an application?

Get in touch with Diane Christy, VP Communications; dchristy@ascpa.org or 334.386.5752.

The Alabama CPA MAGAZINE

DOING IT BETTER By Catherine Z. Horn, CPA, Alcatel-Lucent Building a Diversity Plan at Your Organization

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here’s no doubt that the human tapestry of the U.S. is changing. In 1995, 74 percent of the U.S. population was classified as “white.” By 2050, that percentage will fall dramatically to 52 percent.

This seismic shift has increased the need for diversity and inclusion plans in the workplace.

A diversity plan is a set of actions designed to enhance the diversity of a workforce in a specific way in order to drive business success. A diversity plan helps ensure that everyone feels included – that the differences each one of us brings to the table are understood, valued and embraced so that everyone is committed to the philosophy that the whole is greater than the sum of its parts.

People tend to think of diversity in terms of ethnicity, race, gender, age, disability and sexual orientation. Diversity plans can be created and implemented for any size organization – from just a few to thousands of employees.

Where to Begin First, perform a gap analysis, which is the comparison of actual performance with potential performance. Examine your organization’s mission, vision and business objectives and determine where you are falling short. The answers may be broad, but it will come down to how well your workforce is able to support and deliver on your goals. Consider the following scenarios.

Is revenue or market share decreasing?

Perhaps the ethnic, gender and/or generational profile of your workforce does not reflect your customer base. Clients often feel more comfortable doing business with someone more like themselves. Look at your staff profile and decide if you should recruit differently to expand your diversity mix. Perhaps the profile of your entrylevel staff is diverse, but you have difficulty retaining this talent. So, why are you losing strong, diverse performers? To develop a diversity plan addressing this scenario, try holding focus groups, performing exit interviews and surveying existing employees. Or, you can simply have heartfelt, one-on-one conversations, particularly with key employees. Determine what you can do to recruit, develop, retain and promote employees to create your desired workforce profile.

Within your existing organization, is each employee performing to his or her potential?

Could employee productivity be negatively impacted because of frustration with managers, peers or subordinates due to prejudices, misunderstandings or fears related to differences in gender, race, ethnicity disability or sexual orientation? Here, a diversity plan might resemble a team-building plan where employees learn more

The Alabama CPA MAGAZINE

Predicted population in 2050 White

52%

Latin American African American Asian

25% 14% 8%

American Indian

1%

about each other on a more personal level so that perceived walls can be broken down and camaraderie nurtured. A diversity plan could also include something as simple as attending cultural events as an organization, bringing in guest speakers or having ethnic pot luck lunches.

The American Institute of CPAs has created a National Commission on Diversity & Inclusion.

Learn more at aicpa.org/career/diversityinitiatives/pages/aicpanationalcommissionondiversity.aspx.

Keys to Success To help ensure the success of your diversity plan, there are several key points to remember: • Commitment must come from the top of the organization.

• Messaging must clearly articulate the linkage to the organization’s vision, mission and business objectives.

he plan needs to be clear, attainable and •T regularly measured.

•T he commitment should not be just to a diversity plan, but to a cultural shift in the organization. The plan cannot be viewed as the “project of the month” that management eventually loses interest in.

•R ecruitment should continue to focus on obtaining the best and brightest staff for your organization.

• The plan needs to have someone who is qualified to be the day-to-day information source, negotiator, sounding board and overall champion.

The benefits of a successfully implemented diversity plan are far reaching. It will define your organization’s culture, enhance your revenue potential and lead to a high-performing workforce.

This will result in higher employee morale that improves the way workers interact with each other and with clients. ______ Catherine Z. Horn, CPA, CGMA, SPHR, is a human resources director at Alcatel-Lucent. She is a member of the New Jersey Society of CPAs Volunteer Relations Committee and the Editorial Advisory Board of New Jersey CPA magazine.

Contact her at cathy.horn@alcatel-lucent.com. ©2013 New Jersey Society of CPAs. Reprinted with permission.

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DOING IT BETTER Starting your own Firm

I

f you have reached the point in your career where you are seriously considering starting your own CPA practice, the following information and checklist is presented to help you plan and launch your new venture. Success, of course, is up to you and the effort and creativity you put into building your business. But following the blueprint that others have followed in establishing their own business can help you clearly define your objectives, assess your needs, and avoid many pitfalls along the way.

[Disclaimer: The following narrative is provided simply to point out some of the issues and concerns.

Any individuals wanting or needing additional information should contact the appropriate professional, to receive information and guidance.]

Self-Assessment – Do you have what it takes?

Before you announce to the world that you are now self-employed, it is wise to ask yourself some very serious questions. Why do you want to start a practice? Do you have the motivation and per-

sonality to start and manage a business? Do your spouse and family support your decision? Does your employer know of your intentions and will there be support or interference to your plan? Do you have the financial means to weather a start-up period?

Being your own boss sounds like the American dream. But the reality is hard work, low pay and many, many hours building a business from scratch.

The time commitment alone will change many of your familiar routines. The cash flow of a start-up venture will strain your budget and change spending patterns for you and your family for many months, or even years. But once you’ve weathered your start-up phase and your business is established, the rewards can’t be beat.

You can begin in several ways including buying a practice, finding a partner or partners, and starting from scratch. An established CPA may be ready to retire or move onto other opportunities. Buying an existing practice has the advantage of an established client list and assets, but the cost may be prohibitive. With another CPA, you can share the start-up

Summary/Checklist

Starting your own CPA firm is exciting, challenging, and rewarding. But be prepared for hard work and some periods of very tight finances until you’re established. Make sure that you and your family can handle the years it may take to get to that point. Do your homework before you start. A well-prepared business plan does not guarantee success, but it greatly improves your chances and makes life a little easier.

Checklist 1. Have you determined why you want to start your own practice?

2. Do you have the experience and skills to go out on your own?

3. Do you have the motivation to attract clients, provide services, and manage a business and employees.

4. Do you have the discipline to be your own boss?

5. Do you have the “buy in” of your spouse and family?

6. Is your current employer aware of your intentions?

7. Are you relying on clients leaving your employer to go with you?

8. Do you have the financial assets to meet your household expenses during your start up period?

9. Do you have the financial assets to set up and operate your own office?

10. Do you need to borrow start up capital?

11. Will a Business Line of Credit meet your capital needs?

12. Do you have a solid credit history?

13. Is your repayment projection realistic?

14. Have you determined the best business structure for your practice (i.e. sole proprietor, partnership, S Corp. etc.)?

15. Have you developed a business plan?

16. Have you itemized start up furniture, equipment, and office expenses?

17. Have you identified the need for staff and planned for the expense?

18. Have you determined that your area can support your CPA practice with sufficient business?

19. Have you priced office space in your community?

20. Have you developed a pricing structure for your services?

21. Have you checked local zoning and business certification 22. Have you developed a marketing plan to attract and retain clients?

23. Do you have the necessary insurance coverages for your business?

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Yes No

expenses. Of course, you’ll also share the revenue as well. And all decisions will require agreement or compromise. The last option offers the most autonomy…and risk. You call the shots. You handle all expenses. And of course, you reap all profits.

Developing a Business Plan Step number one in launching a new business is to develop a written business plan. The business plan is an outline of all aspects of your anticipated practice. It captures all your thoughts in a logical, detailed presentation that not only acts as your guide but also tells others what your business is all about.

A solid business plan is critical if and when you seek funding for your venture.

Financial Considerations Before opening your practice, it is critical to review your personal financial situation, your income needs and your cash flow projections. Even if you have a paying customer lined up from day one of opening your practice, consider the fact that it may be several months before you actually receive payment for your services.

Do you have the cash on hand to pay your ongoing household expenses plus the start-up and operating expenses of a new business? If you are leaving an employed position, what impact will the loss of a paycheck have on your financial obligations and your family’s lifestyle? Aside from savings and equity you hold, what other sources of income can you rely on? Can your spouse provide adequate income to handle the day to day household bills? Do you have a severance package from your employer to help get you started? Can you rely on family and friends for financial assistance? Do you need to borrow money from a bank or commercial lender? Do you have a solid credit history? Are you heavily in debt? Will you qualify for a business loan?

Start Up and Operating Costs The cost of starting a CPA practice depends on many variable factors. Your geographic location will determine the cost of renting office space. You might consider starting with a home office and then growing into larger quarters. You may already have some equipment or computers that you can use to get started, or you may need to purchase or lease complete furnishings and equipment. Here are the basic elements you’ll need: Office Space The Home Office – Many start-up businesses begin as home offices. Although the home office offers many cost savings, it may or may not be right for you. Do you have adequate space to devote solely to your business? Is it quiet and away from family noise and traffic? Do you feel comfortable bringing clients into your office? If you anticipate employees, is your family comfortable with this? Do local zoning requirements allow for a business in your home and what restrictions are there on employees, client visits, parking, deliveries, signage?

The Alabama CPA MAGAZINE

Aon Affinity | Professional Firms The Commercial Office – Renting space in a commercial office building may better fit your business requirements. Rent and lease conditions vary considerably, so it is best to shop around before settling on a location. Before signing a lease agreement, be aware of the long term commitment and cash requirements. If your business grows rapidly, is there space to expand? Conversely, if your business does not take off, are you locked into a commitment of many years? Does the office meet realistic financial considerations, does it convey a positive image to clients, and does it offer flexibility based on your actual performance?

The Shared Office – Many businesses today are using the shared space concept. Within a commercial building, you rent private office space but also use a shared reception area and staff, shared conference facilities, copy machines and phone systems, as well as rest rooms and coffee or lunch areas. This arrangement offers the image and amenities of a large office at shared costs with others.

Staffing Determining staffing is one of the most critical elements in starting your business. Can you handle all aspects of the business yourself? Is it the best use of your time to be answering phones, scheduling appointments, sending correspondence and handling general office duties, as well as professional services? If you do hire, be sure to identify specific job duties before you bring someone on board.

In planning for staff costs, consider that you must offer a competitive salary and benefits package to attract and retain quality staff.

You may want to consider part-time or temporary office staff until your practice is established and you can comfortably meet expenses. Once your cash flow reaches the stage where you can meet your operating costs and your personal income requirements, consider the expense of salary and benefits to full-time employees.

Cash Management Develop a monthly budget. Include rent, utility costs (if not included in rent payment), telephone, email or online service, cleaning and trash services, parking (if not provided), supplies, and postage.

Establish a business checking account with your bank. Do not use your personal checking account for business expenses. Consider whether you have sufficient personal capital available for your start-up period or if you need to borrow money.

Borrowing Money If you do not have sufficient capital of your own to cover start-up costs and at least the first six months of operating costs, you may need to borrow the money to get started. There are several options to consider.

You may start with your own personal credit availability. A loan against your home equity may The Alabama CPA MAGAZINE

The Alabama Society of CPAs proudly welcomes Aon as business partners. For more information on products and services, please contact Robert Albertini, Aon’s senior business development specialist, robert.albertini@aon.com or 801.559.9719. be sufficient to get started. Family or friends may be willing to loan you money to get off the ground.

Or consider establishing a business line of credit with your bank. This can provide the money you need, as you need it, without borrowing a fixed, lump sum.

If these sources do not provide all capital you need, apply for a business loan through your bank.

Keep in mind that before you’ll qualify for a loan, you must be able to put up a percentage of your own capital against the loan amount. Your home and other assets may be needed as loan collateral. Before you approach a commercial lender make sure you have a solid, realistic business plan developed.

In it, itemize specific expenses you anticipate. Apply for only the amount you can account for; a bank will not lend for unexplained purposes, without specific itemized needs shown. Outline your repayment abilities.

Legal Considerations Before you open for business, be sure to check local, county, and state business requirements and certification. You may want to engage an attorney to assure your compliance with all local requirements and to handle the formal establishment of your business as a legal entity.

Insurance Considerations Before you begin your first engagement or open your doors to the public, it is important to address your total insurance requirements.

If you are leaving an employed position, you will most likely lose all insurance coverage provided by your employer. You will need to address personal health insurance coverage for you and your family.

As a professional today, professional liability insurance is critical. Lawsuits are a fact of life in the business and professional world. You must protect your practice and your personal assets against legal liability resulting from errors or omissions in providing professional services. If and when your practice has employees, employment practice liability insurance protects you against charges of discrimination in hiring, wrongful termination, and other workplace liabilities. And as a benefit to employees you may want to offer group life insurance.

The AICPA Insurance Program offers members a wide range of affordable coverage plans, including: commercial property and liability - business owner’s policies (BOP) combining property and general liability coverages are available to meet the diverse and growing needs of small to medium-sized firms.

Worker’s Compensation coverage is offered to you at low rates. Other coverages include commercial liability umbrella and commercial auto. There is also professional liability- plans which provide com-

prehensive coverage tailored to meet the diverse needs of CPA firms of all sizes and areas of practice, employment practices liability - a wide range of services to help firms understand and comply with the rapidly expanding arena of employment law and group life insurance for firms - term life insurance for owner and employees.

Marketing There are two aspects to marketing your services that need to be considered at the outset of your business planning: defining your service and reaching prospective clients.

Your marketing plan needs to define the kind of accounting services you will provide. Do you have sufficient experience to provide many areas of service or are you more narrowly focused? Will you serve private individuals, businesses, or both? Can your local area support your business or is it already crowded with other firms? Is there a niche that you can fill that your competitors are not serving? Knowing the needs of your prospective marketplace is critical to success.

Once you’ve determined your services, you need to communicate with your prospects. Get business cards printed as soon as you determine your office location and phone number. Get listed in the yellow pages of your local phone directory. Since phone books may only be printed annually, it is important to know when the next book is printed and get your information out on time. You may want to consider an announcement ad in your local newspaper, or a mailing to a compiled prospect list. Networking also plays a critical role in marketing, particularly professional services. Pass the word to family, friends, and business associates about your service and ask that they tell others.

Consider joining your local Chamber of Commerce or other business associations. This provides networking opportunities and, many times, marketing support as well. Contacting clients that you served while in the employment of others can be precarious. Be sure to use discretion as this may alert your employer to your self-employment intentions, negatively impacting your planning and financial set-up stages. There could also be legal implications. It is better to hint at your intentions and let the client follow you rather than make a solicitation.

Finally, once you have identified your services and market, you need to establish a pricing schedule.

This is often the most difficult aspect of running a business. Your price must be competitive with other CPAs, low enough to attract new clients yet not so low as to undercut your revenue requirements. To help you along the way, the AICPA offers a SelfStudy Course on Starting Your Own CPA Firm.

11

DOING IT BETTER Jamie Thomas, LBA Group

Director of Marketing and Communications Jacksonville, Florida Jamie has over 17 years of experience in marketing professional services firms, including law and accounting. Since 2000, she has led The LBA Group’s vision for growth by directing the client service, marketing and business development efforts for the firm. Jamie works with the firm’s leaders to ensure premier, proactive client service and mentors the firm’s future leaders as they develop their own client and professional relationships. She is involved with identifying and developing new industry and service niches and for facilitating LBA’s involvement and support of local community organizations. Jamie is also responsible for driving the firm’s branding and communications efforts and provides marketing consulting services to clients.

12

Bright Ideas Workshop Will Light Up Firm Staff

T

he Alabama Society is inviting public accounting firm staff to Montgomery for a new workshop on Tuesday, November 19. Titled Bright Ideas, the half-day program is designed specifically for marketing staff as well as those who plan and manage continuing professional education. This is a free event, provided as a service to our members in public accounting. The workshop is at the ASCPA office in Montgomery, will last 10:00-2:00 and lunch will be provided.

Leading off the day is the 2013 Marketer of the Year, Jamie Thomas, Director of Marketing and Communications for the LBA Group of Jacksonville, Florida. She received the prestigious award at the annual Association for Accounting Marketing Summit last June in Las Vegas.

Thomas is a past chair of the Summit and has 17 years’ experience marketing professional service firms. Thomas will discuss her role in providing internal and external communications for the firm and her gradual shift into business development.

Following lunch, the two groups will separate and discuss issues specific to their roles. The ASCPA wants to know how best to serve these vital firm members, to share resources available, and to offer assistance where appropriate. Ms. Thomas will be available for questions during the breakout sessions.

Registration is available through the ASCPA website, www.ascpa.org or by emailing.

The Alabama CPA MAGAZINE

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14

The Alabama CPA MAGAZINE

State Board News From J. Lamar Harris, CPA, Executive Director JULY-AUGUST 2013 CPA EXAMINATION Grades from the July-August 2013 CPA Examination were mailed to candidates on September 12, 2013 and October 3, 2013. There were 180 total candidates who sat for a total of 233 sections of the examination and passed 113 sections for a section-passing rate of 48.50%.

The 180 total candidates were comprised of 39 first-time and 141 re-examination candidates.

A total of 24 candidates passed. There were 24 candidates who passed section(s) to receive credit status, 46 candidates who passed a section to improve their credit status, and 86 candidates who passed no sections to remain status quo. There were 132 candidates who sat for one section of the examination, 43 candidates who sat for two sections of the examination, five candidates who sat for three sections of the examination, and no candidates who sat for four sections of the examination.

ALABAMA NATIONAL

SECTION PERCENT PASS PERCENT PASS AUDIT 50.91% 47.20% BEC 50.00% 59.40% FAR 43.84% 51.68% REG 50.79% 50.14%

downloaded from our website at www.asbpa. alabama.gov/exam.aspx. We encourage each CPA Examination Candidate to review the “Test Tips For CPA Candidates” and “CPA Candidate Bulletin and Test Tutorial and Simulations” on the Exam Applications page of the Board’s website.

DELINQUENT 2012-2013

REGISTRATIONS

Individual and firm registration packets for 2012-2013 were mailed to all licensees on September 24, 2012. The completed on-line registrations or registration forms for 2012-2013, along with the appropriate fee(s), were due in the Board office on October 1, 2012. Licensees who have not already filed are delinquent and encouraged to register as soon as possible.

A late renewal penalty of $500.00 is due for registrations postmarked April 1, 2013 through September 30, 2013. After September 30, 2013, disciplinary actions ensue for unpaid fees, late renewal penalties, and CPE deficits.

You may also visit the Board’s website and download individual and firm registration forms. If you have questions concerning your 2012-2013 registration(s), please contact the Board office.

2013-2014 REGISTRATIONS

Beginning with the fiscal year 2013-2014 Annual Registration Forms will no longer be mailed

to licensees. Please go to the Board’s website at http://www.asbpa.alabama.gov/regstration.aspx to register. For those licensees desiring to use a paper registration form, you may download a form in pdf format.

IMMIGRATION COMPLIANCE REQUIREMENTS The Board has mailed a document to all CPAs, PAs and NLOs, to be completed and returned.

All licensees are required to demonstrate United States Citizenship or lawful presence in the United States, as required by Section 31-13-1, et seq., of the Code of Alabama 1975. If you have not completed this requirement, please do so immediately. If you have questions concerning this Immigration Compliance Requirement, please contact the Board office.

ADDRESS CHANGES

Board rules require that all licensees keep the Board advised of any change of address and/ or change in business affiliation. Such changes must be in writing and may be submitted electronically by visiting the Board’s website and completing the On-Line Change of Information Form found on the “Change of Information” page. You may also submit such changes by mailing or faxing (334-242-2711) to the Board office.

OCTOBER–NOVEMBER 2013 CPA EXAMINATION Licensees were selected randomly by the Board for an audit of their CPE forTesting for the October-November 2013 CPA Examination will close on November 30, 2013. During the month of December 2013, testing will be closed for systems and databank maintenance.

We anticipate receiving and distributing the grades from the October-November 2013 CPA Examination between December 6, 2013 and January 10, 2014.

JANUARY-FEBRUARY 2014 CPA EXAMINATION Testing for the January-February 2014 CPA Examination will begin on January 2, 2014 and close on February 28, 2014. During the month of March 2014 testing will be closed for systems and databank maintenance. We anticipate receiving and distributing the grades from the JanuaryFebruary 2014 CPA Examination between March 7, 2014 and April 11, 2014.

CPA Examination scores are available on-line through the Board’s website at www.asbpa.alabama.gov/exam.aspx. Examination candidates must enter their “Section ID Number” and “Date of Birth” to access their scores.

The Board also mails official scores to candidates as soon as they are received and processed.

The Board accepts submission of CPA Examination Applications during any month of the year. If you have questions, please contact Anna Baker at the Board office at 334-242-5700 or in-state 1-800-435-9743. CPA Examination Application Forms, Application Instructions, and CPA Examination Qualifications may be The Alabama CPA MAGAZINE

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15

DOING IT BETTER

By Madison Miner

The dollars and sense behind CPA mobile websites

A

s a CPA, you’ve probably noticed how attached your clients are to their mobile phones. Busy consumer and business clients rely on their phones to communicate and search for local businesses any spare moment they can find.

Mobile phones are ingrained into our daily lives, and the rise in mobile usage is projected to continue. With mobile web traffic set to increase 2,600 percent in four years, CPAs need to consider how a mobile world affects their business.

Consider this: 95 percent of mobile users search for local businesses.

Put simply, if you’re not adjusting to a mobile world, you’re losing business.

This is especially true for professional services because your clients (or potential clients) will be making a decision about your credibility based on your web presence. In fact, 40 percent of smartphone users switch to competitors after a bad mobile experience. The last thing you want is another roadblock between you and your clients.

So, can your mobile customers view your webpage on a small screen?

Customers today expect websites to be mobile friendly and easy to navigate with their fingertips, without having to pinch and zoom. And with mobile browsing speeds getting faster, the desktop computer is no longer the access point to the Internet. Mobile websites are the new vehicle for web browsing.

When you make the move to go mobile, consider the following tips to make your site interactive for your clients: all with one click. It’s important to make it easy for mobile users to •C contact you. The goal is to turn a search into a client. And the simplest way to do this is to enable a “click to call” function on the mobile site.

This is also true for contact pages. These should be simple and built for hassle-free touch screen navigation to help capture incoming business.

16

• Guide them to your door. Your website should sync with mapping features such as Google Maps so that a user can find you in a search and get directions from their current location.

• Socially smart. If you have carved out some time to create a blog or social media presence, incorporate that on your mobile site. These mediums give you an outlet to engage existing and new customers. Not only that, social media is a powerful tool to grow your client referrals. A mobile website should capitalize on this by integrating with all social networks.

• Streamline. Many of the flashy design tricks, heavy text blocks, and oversized graphics that work for a desktop site will not serve you well on mobile. In fact, they may take so long to load that you lose customers – if they load at all. The design and content should remain brand consistent but be accessible and easy to find. No pinching and zooming required.

• More than numbers. You are the cornerstone of your business and your most valuable asset. You want to foster trust and be approachable.

Your mobile website should clearly show who you are and why you should be trusted with a client’s finances.

Once your mobile site is up and running, you will see more traffic from search engines via smartphones, and have more of those searches lead to new clients.

It’s a mobile world, which is an advantage to CPAs who seize the opportunity to stay connected. ________ Madison Miner is CEO of WompMobile, a Bellingham-based company that converts regular websites to mobile ready, makwing them accessible and searchable on smartphones. For more information, visit www.wompmobile.com or e-mail madison@wompmobile.com.

The Alabama CPA MAGAZINE

EDUCATION Express Field of Early Bird *Registration Non-Member Study Member Fee Fee Add-On

No.

Date(s) Location Title

Birmingham 178 12/4/2013 Wynfrey Huntsville 177 12/3/2013 Jackson Center Mobile 180 12/6/2013 Holiday Inn Montgomery 179 12/5/2013 ASCPA Office 181* 1/6/2014 ASCPA Office 182* 1/9/2014 ASCPA Office

The Best Federal Tax Update Course by Surgent McCoy

Tax

199

224

50

The Best Federal Tax Update Course by Surgent McCoy

Tax

199

224

50

The Best Federal Tax Update Course by Surgent McCoy

Tax

199

224

50

The Best Federal Tax Update Course by Surgent McCoy 1040 Tax Return Update 2013 Corporate Income Tax Boot Camp

Tax Tax Tax

199 250 250

224 275 275

50 50 50

At a crossroads in your search for quality education?

Grab a camel and jog on over to the ASCPA’s web-based solutions. www.ascpa.org The ASCPA’s education offerings are an oasis for thirsty minds.

Seeding a Cloud Continued from page 4 other services with your existing clients. Be sure you discuss what is acceptable before agreeing to terms.

Disclosure and engagement letters – Disclosing your use of third party vendors and covering everything in the engagement letter is very important. You should indicate what you are providing for your client and what you are not providing. For example: we want to make it clear that we are not providing information technology consulting and only are providing consulting services for the accounting applications or processes we are engaged.

We have been providing cloud accounting services to our clients for a little over two years. It may not be right for everyone. We have faced challenges and learned lessons along the way. It has helped us collaborate with clients more efficiently and more clients are interested in the advantages and features of cloud accounting. I think it is the right way for the profession to provide efficient accounting services to our clients and it can open the door for other tax and audit services. ________ Reprinted with permission of the South Carolina Society of CPAs. William Barefoot, CPA, is business advisory services manager with WebsterRogers’ Florence office. He currently serves on the SCACPA Board of Directors and the Audit Committee.

The Alabama CPA MAGAZINE

17

Health Care Reform PAYCHEX CAN HELP

Paychex is your source for health care reform solutions, with innovative online management resources, access to licensed professional advisors, and many other tools designed to help you and your clients stay in compliance with the various requirements.

Licensed insurance professionals are available to work with clients on health-insurance-plan coverage that meets the established minimumcoverage requirements.

Paychex Insurance Agency will work with Paychex payroll to continually monitor its eligible clientsâ&#x20AC;&#x2122; accounts to make sure they are in compliance with required Form W-2 reporting.

Online tools such as a tax-credit calculator can help employers determine their eligibility and potential savings under the small business tax credit (SBTC) provision.

Report Center reports are available to help employers understand where they fall within the employer shared responsibility (ESR) provision.

Paychex will continually monitor any developments, changes, or delays to Affordable Care Act (ACA) provisions â&#x20AC;&#x201C; our goal is to educate you and your clients on all aspects of the legislation.

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Paychex is proud to be the preferred provider of payroll services for the ASCPA.

The Alabama CPA MAGAZINE

ASCPA Continuing Professional Education Registration Form Mail form tototo :: Mail form Mail form Mail form to : : ASCPA ASCPA ASCPA ASCPA P.O. Box 242987 P.O. Box 242987 P.O. Box 242987 P.O. Box 242987 Montgomery, AL 36124-2987 Montgomery, AL 36124-2987 Montgomery, AL 36124-2987 Montgomery, AL 36124-2987

Fax form to :: Fax form toto Fax form Fax form to : :

Register online at: Register online at: Register online at: Register online at:

334.834.7310 334.834.7310 334.834.7310 334.834.7310

www.ascpa.org www.ascpa.org www.ascpa.org www.ascpa.org

REGISTRANT INFORMATION REGISTRANT INFORMATION REGISTRANT INFORMATION REGISTRANT INFORMATION Last Name Last Name Last Name Last Name

First Name First Name First Name First Name

M.I. M.I. M.I. M.I.

ASCPA Member Number ASCPA Member Number ASCPA Member Number ASCPA Member Number

Firm / Employer Firm / Employer Firm Employer Firm / /Employer

State Certificate Number State Certificate Number State Certificate Number State Certificate Number

Address Address Address Address City City City City

State State State State

Business Phone Business Phone Business Phone Business Phone

Business Fax Business Fax Business Fax Business Fax

Please visit www.ascpa.org to Please visit www.ascpa.org toto Please visit www.ascpa.org Please visit www.ascpa.org to view all registration policies, view allall registration policies, view registration policies, view all registration policies, including information about including information about including information about including information about cancellations and refunds. cancellations and refunds. cancellations and refunds. cancellations and refunds.

Zip Zip Zip Zip

Please attach aadescription of Please attach description ofof Please attach a description Please attach aor description of special requests contact us at special requests oror contact usus atat special requests contact special requests or contact us at (334) 386-5764.

(334) 386-5764.

(334)386-5764.

386-5764.

(334)

Email Address (for registration confirmation) Email Address (for registration confirmation) Email Address (for registration confirmation) Email Address (for registration confirmation)

 if ifinformation has recently changed and needs tototo be updated ininin your member record  Check information has recently changed and needs be updated your member record Check Check information has recently changed and needs be updated your member record  Check ififinformation has recently changed and needs to be updated in your member record

Vegetarian   Vegetarian Vegetarian ADA Vegetarian  Request  ADA Request ADA Request  ADA Request

Are you a amember ofofof the AICPA?  Yes No Number: ____________________ (Required for discount; subject to verification) Are you member the AICPA? Yes No Member Number: ____________________ (Required for discount; subject toto verification) Are you member the AICPA? Yes No Member Member Number: ____________________ (Required for discount; subject verification) Are you aamember of the AICPA?  Yes No Member Number: ____________________ (Required for discount; subject to verification) How did you hear about this class?

Email Newsletter Website Postcard/Special Mailing Other How did you hear about this class?

Email Newsletter Website Postcard/Special Mailing  Other How did you hear about this class?  Email  Newsletter  Website  Postcard/Special Mailing  Other How did you hear about this class? Email Newsletter Website  Postcard/Special Mailing  Other Course Course Course Course Date Date Date Date

Course Course Course Course Number Number Number Number

Course Title Course Title Course Title Course Title

Course Fee Course Fee Course Fee Course Fee

ASCPA Non-­‐ ASCPA Non-­‐ ASCPA Non-­‐ ASCPA Non-­‐ Member Member Member Member Member Member Member Member

AICPA Discount AICPA Discount AICPA Discount AICPA Discount *see note (where *see note (where *see note (where *see note (where applicable) applicable) applicable) applicable)

Book Fee Book Fee Book Fee Book Fee ($20 per ($20 per ($20 per ($20 per course) course) course) course)

Subtotal Subtotal Subtotal Subtotal

Total: Total: Total: Total:

*CPAs who are members of the ASCPA may register at the member rate. CPAs who are not a member of the ASCPA or other State *CPAs who are members of the ASCPA may register at the member rate. CPAs who are not a member of the ASCPA or other State *CPAs who are members of the ASCPA may register at the member rate. CPAs who are not a member of the ASCPA or other State *CPAs who are members of the ASCPA may register at the member rate. CPAs who are not a member of the ASCPA or other State Society may register at the Non-­‐Member rate. Please include the appropriate discount(s) when registering for events.

Society may register at the Non-­‐Member rate. Please include the appropriate discount(s) when registering for events.

Society may register at the Non-­‐Member rate. Please include the appropriate discount(s) when registering for events.

Society may register at the Non-­‐Member rate. Please include the appropriate discount(s) when registering for events. 〈CPAs who are members of the AICPA may deduct $30 from AICPA seminars ONLY (8 hrs classes). (These are identified in the CPE 〈CPAs who are members of the AICPA may deduct $30 from AICPA seminars ONLY (8 hrs classes). (These are identified in the CPE 〈CPAs who are members of the AICPA may deduct $30 from AICPA seminars ONLY (8 hrs classes). (These are identified in the CPE 〈CPAs who are members of the AICPA may deduct $30 from AICPA seminars ONLY (8 hrs classes). (These are identified in the CPE Schedule online or in the ASCPA newsletter).

Schedule online or in the ASCPA newsletter).

Schedule online or in the ASCPA newsletter).

Schedule online or in the ASCPA newsletter). *Electronic course materials are included in the registration fee and will be emailed at least two weeks before the course date. *Electronic course materials are included in the registration fee and will be emailed at least two weeks before the course date. *Electronic course materials are included in the registration fee and will be emailed at least two weeks before the course date. *Electronic course materials are included in the registration fee and will be emailed at least two weeks before the course date.

You can choose to purchase a paper copy of the course materials for an additional fee of $20 per course.

You can choose to purchase a paper copy of the course materials for an additional fee of $20 per course.

You can choose to purchase a paper copy of the course materials for an additional fee of $20 per course.

You can choose to purchase a paper copy of the course materials for an additional fee of $20 per course.  I acknowledge that I will receive course materials electronically (included in course fee).  I acknowledge that I will receive course materials electronically (included in course fee).  I acknowledge that I will receive course materials electronically (included in course fee).  I acknowledge that I will receive course materials electronically (included in course fee).  I would like to purchase my manual for $20 per class  I would like to purchase my manual for $20 per class  I would like to purchase my manual for $20 per class  I would like to purchase my manual for $20 per class Check: I have enclosed a acheck payable totoASCPA ininthe amount ofof$ Check: I have enclosed check payable ASCPA the amount $___________ ___________ Check: have enclosed check payable ASCPA the amount ___________ Check: I Ihave enclosed aacheck payable totoASCPA ininthe amount ofof$$___________  MC Visa Discover AMEX I authorize the ASCPA to charge $ __________ to my credit card.

Card:  MC  Visa  Discover  AMEX I Iauthorize the ASCPA to charge $ __________ to my credit card.

Credit Card:  MC   Visa   Discover  AMEX authorizethe theASCPA ASCPAtotocharge charge$$__________ __________totomy mycredit creditcard. card. Credit Credit Card:  MC  Visa  Discover  AMEX I authorize Credit Card: Card Number Month Date Card Number Month Year Expiration Date Card Number Month Year Year Expiration Expiration Date Card Number Month Year Expiration Date

Company Credit Card Company Credit Card  Company Credit Card Company Credit Card

  Personal Credit Card Personal Credit Card Personal Credit Card  Personal Credit Card

________________________________________ ________________________________________ ________________________________________ ________________________________________ Print Cardholder’s Name Print Cardholder’s Name Print Cardholder’s Name Print Cardholder’s Name

________________________________________________ ________________________________________________ ________________________________________________ ________________________________________________ Cardholder’s Signature Cardholder’s Signature Cardholder’s Signature Cardholder’s Signature

Address ofofof cardholder Address cardholder Address cardholder Address of cardholder

City, State, Zip ofofof cardholder City, State, Zip cardholder City, State, Zip cardholder City, State, Zip of cardholder

The Alabama CPA MAGAZINE

4/2/13 4/2/13 4/2/13 4/2/13

19

Presorted Std US Postage PAID Permit No. 131 Montgomery, AL NOVEMBER

2013

The Alabama Society of Certified Public Accountants 1041 Longfield Court P.O. Box 242987 Montgomery, AL 36124

Classified

Enjoy the bounty of the season.

The Alabama Society of CPAs’ office will be closed November 28 and 29 for the Thanksgiving holiday.

Davis & Cole, LLP in Athens is seeking a CPA to manage the tax area of the practice. Minimum of 3-5 years of public accounting experience is required with an emphasis in tax. This permanent position offers competitive salary and benefits with growth opportunities.

Send resume, salary requirements and inquiries to tcole@daviscolecpa.com.

YOUR PRACTICE WANTED: We are North America’s leader in practice sales.

Let us navigate the complexities, locate the best match from a deep pool of qualified and serious buyers, and optimize your return on the years invested in building your practice. If you are considering a change, contact Alabama broker Lori Newcomer, CPA, at (888) 277-6040 or LNewcomer@apsleader. com for a confidential discussion.

GROWING BIRMINGHAM AREA CPA FIRM is seeking motivated, career-oriented professionals. Our firm is currently seeking to fill staff accountant positions.

The ideal candidate should have a minimum of 2 years’ recent public accounting experience, be a CPA or be CPAeligible and have strong analytical and communications skills. Our firm offers an excellent work environment and opportunity for growth and advancement.

Salary and benefits are very competitive.

Qualified candidates should submit resumes to ppelletier@cshgcpa.com.