ALABAMA CPA MAGAZINE MAY 2015
MEMBERSHIP 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 Don McCleod, Chair Dr. Lowell Broom, Chair-Elect Renee Hubbard, Past Chair BOARD OF DIRECTORS James R. L. Carroll Caitlin F. Glass Kate J. Ham Paul Marcus Hamilton M. Buddy Johnsey Jason L. Miller Michael C. Reibling Gregory E. Sellers Dennis E. Sherrin Rachel M. Taylor AICPA COUNCIL MEMBERS Don McCleod E. Lamar Reeves John P. Shank Jimmy L. Williamson, Past Chair, AICPA
Message from the Chair... The Alabama Society of CPAs is a force for good. When you say yes to experiencing the great things that your membership has to offer then you, too, become an agent for that same good. Moreover, the ASCPA does a lot for us members, like effectively advocating on our behalf regarding legislative matters and offering quality continuing professional education courses and conferences. Still, what really excites me is how the ASCPA’s membership contributes to the overall experience of being a CPA. More so, it brings us together in ways that foster great networks, build life-long friendships and allows ordinary CPAs to realize their dream of making an impact on the profession and the world. As a young African American growing up in humble beginnings, I was a constant dreamer. Since that time, and over the course of my adult life, with every dream that I realized a new dream replaced it. For example, as a child my dreams were about a better opportunity for myself and my family. As a teenager my dreams were about one day experiencing life as a college student. As a college graduate my dreams were about entering into an exciting profession, and as a professional my dreams were about belonging to a membership organization that offered me a professional experience that went beyond the walls of an accounting firm. The ASCPA’s membership has been a dream come true for me. From my very first experience over ten years ago as part of the “Pillars of Success” minority recruitment video, to my time helping Hurricane Katrina victims as part of the Alabama Young CPA volunteers on the Mississippi’s Gulf Coast. Serving as Young CPA Board President when we launched our first Classroom Blitz initiative to the more recent ASCPA’s hosting of the AICPA Accounting Scholars Leadership Workshop and the bridgebuilding efforts with the state’s historically black colleges and universities (HBCUs). I will always cherish every opportunity that I got to say to the ASCPA, “Yes! I’d love to do that!” In closing, as I complete my final message to the membership of the Alabama Society of CPAs, let me say that I have enjoyed all the good food and all of the kind smiles that I have received as chair. I have indeed been blessed beyond the walls of my accounting firm. I want to take this time to wish our incoming leadership great success as well to offer my fullest support. I want to thank my fellow board members for their outstanding service. I want to thank Jeannine and her staff for another outstanding year. I want to thank my family for their love and their support. Finally, I want to thank the ASCPA members, the greatest membership of all state societies. I thank you for allowing me to serve you as your chair, and I thank you for all that you have done!
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 ON THE COVER
Cover Photo Courtesy of Cypress Resources
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s we celebrate ASCPA members in this issues, we’re pleased to salute those who have been with us the longest. A special “well done” to Mr. Winkler and Mr. Dudley who are still in practice. . Fred W. Nichols
Lifetime member
John G. Foshee
2/1/1950 Retired
Maxwell O. Sims
4/24/1952
Lifetime member
Clarence R. Dudley, Jr.
5/16/1952
Public accounting
Ralph D. Sanderson 10/18/1952 Retired Jerry L. Hall
9/1/1954 Retired
James A. Kendall 2/1/1955 Retired Keith A. Winkler
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1/1/1943
Wendell Simmons 8/1/1948 Retired
2/1/1955
Public accounting
THE ALABAMA CPA MAGAZINE
ASCPA MEMBER PROFILE MEMBER STRONG: What the ASCPA Looks Like what you do
54.9% MALE
Public - 43% Industry - 31%
45.1%
Retired - 8% Students - 11%
FEMALE
Government & Educators - 6%
how many years have you been a member
ACTIVE MEMBERS
6,796 THE ALABAMA CPA MAGAZINE
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IT’S NOT GOLF, IT’S ART!
It may appear that playing in the Young CPA Charity Golf Tournament is about golf, but the funds raised land in places far removed from a fairway.
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he Young CPA Charity Golf Tournament, presented by Pangeatwo, is slated for June 3rd at the Robert Trent Jones courses at Oxmoor Valley. This will be the 11th time the Young CPAs have hosted this event and again they encourage all ASCPA members to support their efforts by enlisting players and sponsors. You can find more information on the ASCPA website, www. ascpa.org. The golf tournament is a wonderful networking opportunity for both volunteers and participants. Obvious benefits include the camaraderie while working together and the awareness this event brings to the accounting community. However, one of the most important reasons for the tournament is that it raises funds for The Exceptional Foundation, A Special Place For Those With Special Needs, that has become a big part of the Young CPA culture over the past decade. Not only do 50% of the proceeds from the golf tournament go to fund programs at The Exceptional Foundation, (the balance go to the ASCPA’s own Educational Foundation) but the Young CPAs are also involved in the Foundation throughout the year. Several members of the Young CPA Board serve on The Exceptional Foundation Junior Board and many young CPAs volunteer regularly at the Foundation. Additionally, the Young CPAs are the title sponsor of The Exceptional Foundation’s fall fundraiser, DINNERTAINMENT, a unique seated dinner and variety show that features Foundation participants as they sing, dance, do poetry readings and act in theatrical skits. Lastly, the golf tournament is greatly anticipated by The Exceptional Foundation participants! They look forward to putting with the golfers, leading the pledge of allegiance, teeing off at the shotgun start and mingling with the players and CPAs over lunch. The Exceptional Foundation was founded in Homewood in 1995 by a few families who care for individuals with mental and physical challenges. Today you will find more than 130 individuals with special needs sharing their lives together four days a week — with more than 511 participants enrolled. Weekly highlights include bowling, scouting, art, volunteer service, swimming, basketball, softball, kickball, Special Olympics and dances. These sorts of experiences would be financially prohibitive for almost all of the participants, so the Foundation staff works tirelessly to raise funds to cover operating expenses. Participant fees cover one-quarter of the actual 4
cost of providing programs. The remaining costs come from three sources: grants, corporate and individual donations, and fundraisers such as the YCPA annual golf tournament. From the 2014 tournament, $20,000 was donated to fund the purchase of art supplies for the Foundation’s extensive art program. Since the early days, the art room and its activities have always been the hub of daily life at the Foundation. Individuals with special needs can often express themselves through their painting, sculpting or
drawing more freely than they can communicate in words or even actions. Tricia Kirk, Executive Director of The Exceptional Foundation often says, “We couldn’t do this without the Young CPAs. I just can’t say it any plainer than that. I wish every single CPA who reads this story would stop in here next time they pass by our building and witness just one of the little miracles we see every day. Even better, come by and help out with an art project for an hour or so. It will change your life!”
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THE ALABAMA CPA MAGAZINE
Meet the Speakers - 96th Annual Meeting Timothy L. Christen, CPA, CGMA Timothy L. Christen is chairman and CEO of Baker Tilly Virchow Krause, LLP (Baker Tilly), the US member firm of Baker Tilly International, the world’s eighth largest accounting firm network. Christen chairs the firm’s board of partners and compensation committees. With Tim Christen more than 2,500 employees, Baker Tilly provides a wide range of accounting, tax, assurance, and advisory services. The firm serves clients from its Chicago headquarters, as well as 28 other offices across twelve states. He currently serves on the Baker Tilly International Board of Directors, the North American Regional Advisory Council and chairs the Remuneration Committee. In addition to serving Baker Tilly, Christen is active within the 400,000 member American Institute of CPAs.
John Hargrove John Hargrove is a partner of Bradley Arant Boult Cummings in their labor and employment, construction and procurement practice groups. He is chair of the Labor and Employment Group and is a Fellow in the American College of Labor and Employment Lawyers. Hargrove John Hargrove regularly represents public and private companies in mining, construction, manufacturing, medical, communications and warehousing industries, among others. His labor practice extends to almost every area of employer-employee regulation, with broad trial experience in both federal and Alabama state courts.
James D. Martin, CPA, CGMA, MAcc Jim Martin is the founding member of Real World Seminars of Georgia, LLC, a company wholly dedicated to providing “real world” accounting and auditing education for practitioners primarily involved with privately-held organizations. Martin is a generalist who, James Martin for 29 years, has specialized in income tax, accounting and auditing areas through his firm Martin & Co., CPA, with offices in Sandy Springs, Georgia. He performs up to 70 full day continuing education presentations per year for CPAs and attorneys throughout the United States and Canada. He received the 2012/13 Outstanding Discussion Leader award from the ASCPA to add to multiple other CPE awards he has received over the past 10 years
Thomas G. Stephens, CPA, CITP Thomas G. Stephens, Jr., CPA, CITP is an associate at K2 Enterprises. After working at BellSouth Corporation, Stephens opened his public accounting practice in 1994 in the metropolitan Atlanta area. In his firm, Stephens provided accounting, tax, and consulting services to Tommy Stephens individuals and a wide variety of small and emerging businesses. As part of his practice, he developed a successful consulting practice providing installation and support services on small business accounting software. Additionally, he began writing and presenting continuing professional education courses to accounting and finance professionals. In 2003, Stephens affiliated with K2 Enterprises, where he continues to develop and present educational programs to accounting and finance professionals
Governor Bob Riley Governor Bob Riley was born and raised in the small Clay County town of Ashland, where his family has lived on ranches and farms for many generations. After graduating from the University of Alabama with a degree in business administration, he returned to his hometown, THE ALABAMA CPA MAGAZINE
married his high school sweetheart, and started a small business with his brother selling eggs door-to-door. The venture grew to become one of the largest integrated poultry operations in the Southeast. For the next 30 years, Riley ran a number of successful businesses including a grocery store, a trucking Bob Riley company, a car dealership, a real estate company, and a small pharmacy. He’s also been a cattleman for more than 25 years. Riley was elected to represent Alabama’s third congressional district in 1996 and won reelection in 1998 and 2000, serving a total of three terms in the U.S. House of Representatives. He was elected governor of Alabama in 2002 and won reelection to a second term in November 2006. During his tenure as Alabama’s chief executive, Riley focused on improving education, advancing Alabama’s economic interests, and promoting management and budget transparency.
Ralph A. Thomas, CPA, CGMA Ralph Thomas began his service as CEO and Executive Director of the New Jersey Society of CPAs in 1999. He is a member of the American Institute of CPAs and serves or has served on numerous AICPA committees and the AICPA Council. He was appointed to the Ralph Thomas inaugural AICPA National Commission on Diversity and Inclusion. Thomas has been actively involved since 1977 as a member of the National Association of Black Accountants (NABA), and was elected their national president for 1990/92. Thomas serves on the Supreme Court of New Jersey District VIII Ethics Committee for Middlesex County and is a member of the New Jersey Chamber of Commerce Cornerstone Initiative.
Will Thistle, J. Sims Rhyne III and Bruce Ely of Bradley Arant Boult Cummings are frequent contributors to the ASCPA as authors of quarterly columns in the Alabama CPA magazine and as speakers. Thistle practices primarily in the areas of federal and state and local taxation. He regularly Will Thistle counsels public and private businesses on Alabama tax matters, with particular emphasis in the areas of sales, use, and property taxes. He is a member of the ASCPA. Rhyne is an associate in the firm’s Birmingham office and is a member of the tax practice group. His practice focuses primarily on the areas of federal and state and local taxation. Ely’s 33 years of experience Sims Rhyne have allowed him to serve on the recruiting teams that brought Mercedes-Benz and Hyundai to Alabama as well as focusing on three concentric practice areas: representing taxpayers before federal, state and local administrative and judicial forums; advising companies on choosing the proper form of entity through which to conduct business in the Southeast and potential tax Bruce Ely incentives; and advising companies and various trade and professional organizations regarding state and local tax legislative matters. He also devotes a substantial amount of time to teaching and writing on SALT-related topics.
Join us for a full day of networking, education and annual business meeting, which will include the election of officers and awards presentation, at the 96th Annual Meeting of the Alabama Society of CPAs June 4, 2015. 5
MEMBERS IN MOTION PROMOTIONS AND NEW POSITIONS Randall-Reilly, a Tuscaloosa firm offering comprehensive marketing solutions through a complete network of data and research, publications, online content, online advertising programs, and events, announced that Shane Elmore, the company’s chief process officer, is being promoted to chief operations officer. Elmore will continue to work closely with members of the executive team to foster employee alignment with corporate goals and execute ongoing business operations. Shane Elmore joined Randall-Reilly in 2000 as treasurer. He served as CFO in 2004 and was promoted to CPO in 2009. Elmore graduated from the University of Alabama with a degree in accounting and finance. Kristi B. Daughtery and Colleen A. Keleher have been named partners at Crow Shields Bailey with locations in Mobile, Daphne and Gulf Shores. A graduate of the University of Alabama, Daughtery has been with Kristi Daughtery the firm for 15 years, concentrating her practice in individual, partnership and corporate tax as well as fiduciary and estate tax. She also manages the firm’s Daphne location. Keleher is a graduColleen Keleher ate of the University of
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South Alabama with 25 years of experience in public accounting, and has been with the firm for 5 years. Her primary areas of expertise are not-for-profit organizations, retirement plans, small business audits, and income taxation of estates and trusts. AWARDS AND NEW DESIGNATIONS Lesley Baker, a manager with Russell Thompson Butler & Houston, LLP, has successfully completed the certification process for the Certification in Financial Forensics (CFF). The American Institute of CPAs launched the Certified in Financial Forensic Credential in June of 2008. The AICPA’s CFF Credential combines specialized forensic accounting knowledge and skills with a CPA’s experience, expertise and objectivity. The CFF Credential holder applies this combined expertise to a variety of service areas, including: bankruptcy and insolvency; computer forensics; economic damages; family law; fraud prevention, detection and response; litigation support; stakeholder disputes and valuations. The key differentiation of forensic accounting services is the potential for the work product to end up in some type of legal or administrative venue, a court of law for example. As a result, the CFF Credential holder must conduct his or her work in a manner that will withstand the type of scrutiny encountered in a courtroom, boardroom or other legal or administrative venue.
onnie Sheppard-Harris is the CEO of Birmingham-based Sheppard-Harris & Associates, P.C. It is a privately-owned full-service accounting and consulting firm founded in July 1993. The firm provides professional services to a variety of clients ranging from individuals to medium-sized corporations. The staff specializes in auditing state and local governments and not-forprofit agencies. In addition, they also provide tax return preparation and planning, bookkeeping and accounting software consulting. Ms. Harris was recently appointed by Governor Robert Bentley to serve a 4-year term on the Alabama State Board of Public Accountancy. Ms. Harris received her degree in accounting from the University of Montevallo and began her career in 1979 with the firm of Dozier & Tanker. She became a Certified Public Accountant in 1982. She is a member of the ASCPA, the AICPA and the American Woman’s Society of CPAs. Ms. Harris is the mother of two adult children. Courtnie Harris is a University of Alabama alumna and received her MBA from the University of Montevallo. She is currently sitting for the CPA exam. Gabriel Harris is a graduate of Stanford University with both undergraduate and master’s degrees in communication. Harris is an active member of the renowned Sixth Avenue Baptist Church in Birmingham, where she has chaired both the finance committee and budget committee. Currently, she is an active member of the Magic City Chapter of The Links, Incorporated, where she serves as vice-president. 6
Leadership Academy IV
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raduation day for Leadership Academy Class IV is May 7 and Jeannine Birmingham will be on hand to lead the ceremony with class awards and certificates. Jill Neace, Coulter & Justus: Spirit Award • Worked on both self-improvement (public speaking, professionalism, wellness, and work-life balance) and firm improvement (addressing behaviors affecting culture).
Brittany Harris, Anglin Reichman: Spirit Award • Consistently drew from class content for new goals during each coaching period, focusing on planning and time management, process training and documentation, and staff role definition.
Jenny Gray, Barfield Murphy Shank & Smith: Individual Project • Had consistent focus on personal growth through all three calls: managing chargeable time, personal health, openness to others. As well, acted as a resource with new staff members and firm partner.
Lee Sims, Sellers Richardson: Firm Project • Initiated two significant firm projects drawing directly from class content: added business performance metrics to engagement reviews, and applied Kotter’s 8 steps for leading change to a software implementation.
ANNUAL MEMBER FEES We appreciate having you as a member and look forward to serving you another year. You can pay dues online, 24 hours a day, by going to the website, www.ascpa.org, and rolling over “for Members” and clicking on Pay my Dues. And you’re done for another year. Questions? Contact Shanna Jackson, senior manager for membership, at 334.386.5754 or sjackson@ascpa.org. THE ALABAMA CPA MAGAZINE
THE CPA TURNED STAR CEO How Michael Mullen’s Career Came Full Circle
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or Atherotech Diagnostics, Inc. CEO Michael Mullen, being a candidate for the Ernst & Young (EY) 2014 Entrepreneur of the Year Award brings his career full-circle. Before he took the reins leading Atherotech, one of Birmingham’s most promising biotech companies, Mullen actually worked at EY, the global accounting giant. He has already taken home the Southeastern Region award in the competition in the health care and life sciences category, giving him a chance to compete for the national award in Palm Springs, California last November. Since 2009, Mullen has led the operations of Atherotech, a reference laboratory specializing in cardio and disease management solutions. He talked to the Birmingham Business Journal’s Alan Alexander and discussed his management style, winning the EY award and where the company will be in five years. nO n the best advice he’s ever received: Believe nothing of what you hear only half of what you see and also do unto others as they do unto you. nO n the biggest lesson learned as a CEO: When you’re hiring a key executive, look beyond their functional skill sets and ask yourself if they fit into our culture and if they possess the same values as the rest of the team. Organizations get wider, they get more complex and you have more conflict. If you don’t have everyone with the same core values or you hire someone from an industry that’s highly regulated, it can stifle innovation. You actually create more work for yourself as a CEO. nO n his favorite book: “The Five Temptations of a CEO” by Patrick Lencioni.
THE ALABAMA CPA MAGAZINE
fallen apart and getting it fixed to get going in the right direction. n On where he sees Atherotech in five years: It will be about twice the size in revenue, which would be three times the employee base. We’d have developed more products that are all aimed at earlier identification of disease, earlier intervention and, hopefully, improved outcomes. n On his management style: I’m a big fan of a culture that’s enriched with good leaders. I feel that if you have good leaders, not necessarily good managers, but good leaders, you will be successful. You can give them objectives across the organization and you can work together. I’m very collaborative and I want input about strategy. Unless we are way off the road, I won’t intervene and let the team decide what we’re going to do. I like to keep a sense of humor and keep it kind of light. I feel like I’m very approachable. n On the proudest moment of his career: Probably winning that EY award. That’s a very difficult award to win. The reason why it’s so cool to me is because I worked at that firm. It creates a full circle that some of what I learned at EY when I worked there became part of the reason for our company’s success. n On his future goals: Right now there are some headwinds in our industry and we’ve become a medium-sized player so I’d like to continue to grow the company and create opportunity for our employees and investors. At some point I’ll exit the company, sit back and see what I’d like to do next. I’m thinking about finding something that’s broken or
n On the biggest challenge he’s faced as a CEO: We’re facing some challenges right now, but I would say that the biggest challenge is the regulatory environment and managed care environment. Getting paid for our services [has become more difficult] because what’s happened over the past last 10 years, with premium costs continuing to go up. So what happens at Atherotech is that services like ours get pushed into a deductible piece [of coverage]. Getting either the consumer to pay, or the insurance company to pay for health care services is very, very challenging. n On the future of cancer treatment: I think that, in the next 10 years, cancer will be treated and managed just like heart disease. There will be a pill. But the challenge with cancer is detecting it in a very sensitive way before it becomes metastasized in the tissue. I can see science already moving that way, but the risk of stifling that [research] is from the FDA and overregulation. Until you see a change in policy in D.C., there’s a real risk for companies like ours. ______ This article was adapted from the original, published in the Birmingham Business Journal. 7
MEMBER IN EDUCATION
Charlie Hickman of UAH
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harlie Hickman grew up in a family of five children, all boys. He says his sainted mother deserves our prayers. His father grew up in what we would now consider poverty and participated in the Korean conflict as a member of an Air Force bomber squadron stationed in Japan. After his discharge, he married and worked as an industrial electrician until suffering an accident. It was not his fault, and he was not seriously injured. However, it did generate a strong desire to obtain a college education. He did that, in three years, while supporting a wife and three children. He was the first college graduate in his family. There would be a number of highly-educated individuals in the next generation. Hickman was brought up to see education as the highest aspiration a person can have. He grew up and learned to drive in the St. Louis area, still a help when driving in large cities. He credits five teachers with guiding his education, starting in junior high and continuing through law school. These individuals all had a strong work ethic, were exceptionally bright and motivated to help their students succeed. They also saw through nonsense and didn’t take any crap from students. This left him with a desire to be like them. It took a few twists and turns to convert an appreciation for education into the motivation to succeed at education. Hickman worked in a hospital for 5 years as a respiratory therapy technician and 2 years as a deckhand on towboats. He ultimately got a B.S. in general business at Arkansas State University. Hickman decided to pursue a graduate degree. He narrowed the choice to law or economics, and says he chose law for pretty shallow reasons [Ed. Note: we didn’t ask what those reasons were.] After graduating from law school at the University of Arkansas and learning that what is valued in society is what you can accomplish, he got a post-graduate law degree in taxation at the University of Missouri in Kansas City. He practiced tax law for over 20 years, with a 3 year
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stint in public accounting. Deciding to return to his passion for higher education, and, after his public accounting experience, he became a CPA, with the goal of joining the faculty of a college of business as a tax professor. It worked. He has been at the University of Alabama in Huntsville for 9 rewarding years. Given the long and winding trail to his current (and almost certainly last) career as an educator, he works to give every student the benefit of the doubt and always offer encouragement. He tells everyone who will listen that no student is a lost cause and there is always the potential for redemption. Hickman believes the best students, and those who are not, but find redemption, are what motivate him to work as hard as he can to be the best educator he can be. Charlie Hickman is a clinical professor. As such, his duties are oriented more toward teaching and service and less toward research. It is because of this perspective that he obtained his Alabama CPA certificate and joined the ASCPA. He is tasked to be the liaison between UAH and the accounting community and being an active part of the Society is one way he does that. He also volunteers as a CPE presenter whenever he can. Over the years he has developed relationships with as many CPA firms as possible, to help them and Continued on page 18
THE ALABAMA CPA MAGAZINE
Accounting Pilot and Bridge Project: 2015 Update
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or the past 7 years, Dr. Dan Deines of Kansas State University and a team of accounting instructors have been training high school teachers on a high-level accounting course curriculum. Simultaneously, the American Institute of CPAs (AICPA), state societies of CPAs, university accounting professors and high school teachers have been working toward approval of an AP accounting course by the College Board. The goal is to attract college-bound students to a major in accounting, and to jump-start their university course work. You can learn more about the history of this effort here: www.accountingpilot.com. As of spring 2015, hundreds of teachers have been trained, more than 450 high schools have signed on to teach an AP accounting course when it is approved and 100+ colleges and universities have pledged to accept the AP course for college credit. A college prep accounting course would build bridges between high school accounting educators and college and university accounting programs. Such a course would also increase the opportunity for practicing accounting pro-
fessionals to become involved in the process. In the long-run, using the existing high school infrastructure is the most cost effective way to attract high-quality students to the profession. In late March, Dr. Deines, Bill Ezzell, chair of the AICPA Pathways Commission, and Joanne Fiore, AICPA vice president for Professional Media, Pathways and Inclusion met with members of the College Board to assess the progress of AP accounting approval. The College Board continued to request data to support their investment in a business model for curriculum and testing development. While it is unlikely that they will approve AP Accounting for implementation in the next year or two, the momentum is still positive. Regardless of the date of implementation, the Alabama Society, in partnership with the Alabama State Department of Education, is inviting Dr. Deines and his team to travel to Montgomery again this year and conduct three days of training, July 9-11. With support from the ASCPA Educational Foundation the,
40-50 participants will be housed on the Auburn Montgomery campus, receive a textbook and all materials for the year-long curriculum, and have meals at the Society each day. Educators from Alabama accounting programs will also be invited to participate to gain further confidence in the quality of the curriculum. The ALSDE has already designated the course “College Accounting” and teachers who were trained in 2014 will begin teaching it in fall 2015. Four of the state’s universities have committed to offer college credit for students completing this course: Auburn University, University of Alabama, University of Alabama in Huntsville and Troy University will be signing articulation agreements to that effect this spring. Other schools will be encouraged to join in the effort to elevate accounting in the high school classroom.
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DOING IT BETTER
– Carey Rome, CPA, Cypress Resources
The 3% that changed 100% of my career
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t was the summer of 1991 and I had just finished my first year at LSU. My father sat down with me over a cup of coffee to discuss my future. Dad: (In his south Louisiana dialect) “Carey, have you Carey Rome decided what you’re going to major in next year?” Me: “No Dad, I think I’m going to take my time in deciding.” Dad: “I tell you what: Take all the time you need, I’m just not paying for you to go back until you decide.” Me: “Gulp.” My father suggested that I meet with my Uncle Raoul who had built a successful business. As luck would have it, Uncle Raoul was a CPA. He had worked in audit for an accounting firm where he saw
and learned from a variety of businesses. He left to work for one of the firm’s clients and ultimately started a business based on his industry experience. As you may have guessed, Uncle Raoul suggested I major in accounting. He simply stated, “Carey, if you’re going to own a business one day, it doesn’t matter how well or how poorly you are doing, you must be able to look at a set of financial statements and understand the difference.” Well, I took his advice and it was the best career advice I’ve ever received. Fast forward 24 years and not only have I followed a similar path to my uncle’s, I’d also recommend accounting, and more specifically a CPA career, as a platform for anyone who desires to be a transformational leader. As CPAs we tend to be systematic and 10
measurement-focused, and we love consistency. We know that clients with the best systems and processes consistently produce the best results. We are privileged to engage with and offer value to the most senior executives. But the question I began asking over the years was how do top performers consistently deliver? Is there a system for leadership? How do you help a brilliant visionary who struggles to execute? How do you help the most ruthless of tacticians with vision? Those were questions that intrigued me. After graduating and working in both public accounting and various industries, I started Cypress Resources, a management and leadership consulting firm. Over the past 15 years that I’ve been working with executives and leaders, I’ve found the most successful ones have some common traits. We all know that successful leaders continually strive for improvement, efficiency and effectiveness. Those are no doubt laudable traits, however from my perspective, they’re leadership ABCs. They comprise only a part of the necessary package to become a successful leader. In my experience, the most successful leaders complement their leadership “traits” with a system to achieve success. It is this blend of leadership traits and disciplined process that forms the foundation of The 3% Leader System™ I use at Cypress Resources. How in the world did I come up with a leadership system? Great question. Here’s the short version: I am a business book junkie and a sucker for books on leadership and goals. What I have found is that most business books speak in theory or offer suggestions, but none give us the “how-tos.” Early in my career, I ran across a somewhat infamous study conducted on the 1979 Harvard MBA program. In this study, students were asked three questions: 1) Do you have or set goals? 2) Are your goals in writing? 3) Are your goals clear, and have you made specific plans to accomplish them? The initial findings were: • 84 percent had no goals at all • 13 percent had goals, but they weren’t in writing
• Only 3 percent had written goals and plans to achieve them Ten years later, a follow-up to the study cited two key findings:
• The 13 percent of the class who had goals, but did not write them down, earned twice the amount of the 84 percent who had no goals. • The 3 percent who had written goals with accompanying plans were earning, on average, ten times as much as the other 97 percent of the class combined. I was intrigued by that “3 percent” and in fact, as I looked to validate this oftenreferenced study, I continued to come strikingly close to a 3 percent rule in readings and in my own work. For example, Stephen Shapiro, author of “Goalfree Living,” in his research conducted with the help of the Opinion Corporation of Princeton, N.J., found that: • 45 percent of Americans usually set New Year’s Resolutions. • Of the 45 percent, only 8 percent of people are always successful in achieving their resolutions. Said another way, 8 percent of the 45 percent set goals and achieve them. The math works out to 3.6 percent (.08*.45). Lastly (one I know you will enjoy), according to a WealthCounsel article, only 3 percent of third-generation companies remain profitable. There are many other instances where that 3 percent rule has held true, so much so that I began to explore it as a basis for a leadership system. However, in all my reading, I couldn’t find a holistic approach or process for how the roughly top 3 percent were rising to the top. So I took what I knew to be true from my experience in working with top executives, and combined it with extensive research to create a simple method and systematic process to follow. I now use our 3% Leader System with my clients to help drive results. Let me share a few examples: I began one engagement with an extremely busy executive in the financial services industry. He was brought in to transform a department and execute very specific THE ALABAMA CPA MAGAZINE
corporate mandates from his organization’s Board of Directors. He literally should have worn a fire suit to work each day. Six months after assisting him with his most pressing issues, I began to move the conversation toward what lay ahead — not two months or six months, but looking at his three-year vision for his department. He responded: “Carey, if I don’t solve the problems of the next six months, there will be no three-years.” I responded with: “If your Board doesn’t see that you can think past six months, there will be no three-years.” My point resonated and we began developing his vision, strategy and 12-month goals. We broke his strategy into digestible projects and established a plan to execute. In sharing this vision and the plan to achieve it with leaders around the organization, he gained credibility for not only being a problem solver, but a strategic thinker as well. At the other end of the spectrum, I recently worked with a brilliant visionary. He is truly someone to whom you could listen and nod “yes” all day long. But he struggled with execution.
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Visionaries are often unable to focus on the details behind what it will take to make the vision a reality. They assume that nods indicate employees understand enough to craft and implement their own plans. He was very close, but his employees needed more. They needed a road map. We developed a road map by first taking all of his current in-flight key initiatives and prioritizing them -- those that aligned with the strategic priorities of the organization and those that didn’t. By realigning priorities and building a road map, we put our focus where our rhetoric had been. Focus added clarity and clarity fueled success. Isn’t this what we were taught all along as CPAs? It seems almost common sense. But think about how simple debits and credits are to us and how confusing they are to others. Without a system to follow, we can be so close and still be miles away from where we want to go. For me, working within a leadership system is quite literally the 3% that changed 100% of my ability to execute and achieve my goals more consistently. I don’t believe
much of this would have been accomplished without my background as a CPA. The platform a CPA background provides you is amazing, and the directions you can take beyond traditional accounting are limitless. Just make sure you have a system to achieve what you
desire and your CPA foundation will serve you well. ____ To download a free copy of Carey’s e-book, “3% Leader: The Proven System for Top Tier Performance,” visit www.cypressresources.com
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ALABAMA OPPORTUNITY SCHOLARSHIP FUND Student Success Funded by Tax Credit Scholarship Program By Bruce Ely and Lesley Searcy hese kids are going to be leaders and business people. If they’re not here and not receiving a great education, then what’s going to happen to our community as a whole?” That’s what Mona Padgett, Principal of Conecuh Springs Christian Academy in Union Springs, asked. In 2013, the Alabama Legislature passed the landmark Alabama Accountability Act, which provides low-income Alabama children with an unprecedented opportunity to attend the school—public or private—that best fits their unique educational needs. The purpose of the Alabama Accountability Act is simple: provide educational opportunities to those families who otherwise could not afford them. The Alabama Opportunity Scholarship Fund (AOSF) is a scholarship-granting organization that was formed to help implement this new law. AOSF awards scholarships to eligible lowincome students across Alabama to pay for private school tuition or transfer fees to a nonfailing public school. For the 2014/15 academic year, over 12,000 parents submitted an AOSF scholarship application. AOSF awarded $14,935,960 in scholarships to 2,851 children in 43 of 67 Alabama counties. Eighty-three percent of AOSF’s currently enrolled scholarship students are minorities and the average household income of its scholarship recipients is $20,687. Because of the incredible demand for scholarships, over 2,200 eligible students were wait-listed. De’Antay Curry is an AOSF scholarship student at Gunn Christian Academy in Birmingham. He said, “Many students are being robbed of the opportunity to be great! Students need the privilege to find a school that meets their individual needs…For years, I worked diligently at academics and extracurricular activities in the school I was zoned for. However, it did not afford me a sufficient opportunity to succeed.” Funding for AOSF’s scholarships comes from individuals and C corporations with Alabama income tax liability. Individuals and C corporations may donate to AOSF and receive a dollar-for-dollar credit against their Alabama corporate income taxes, subject to certain limitations. It costs donors nothing to participate, and they can redirect up to half of their annual Alabama income tax liability to AOSF. However, under current law, an individual’s tax creditable contribution is limited to the lesser of 50% of their Alabama income tax liability or $7,500. In addition, donations by both C corporations and individuals can qualify for the federal Section 170 charitable contribution deduction.
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One piece of legislation currently pending in the Alabama Legislature would eliminate the disparities between individual and corporate donors, allow other entities to make tax creditable donations and increase the amount of tax credits available for each year. Senate Bill 71 would remove the $7,500 cap on individual contributions, allowing individual donors to donate up to 50% of their Alabama income tax liability to a scholarship granting organization. In addition, Senate Bill 71 would allow pass-through entities, such as partnerships, S corporations and limited liability companies, to make tax creditable donations to scholarship granting organizations. Senate Bill 71 would also increase the amount of tax credits available for each calendar year from $25,000,000 to $30,000,000. Finally, Senate Bill 71 would allow donors to make contributions to scholarship granting organizations in 2015 but reserve the credits against the unreserved balance of credits that were available but unused in 2014. Because the amount of available credits is limited each year, time is critical in taking advantage of donating. Under current law, a maximum of $25,000,000 of tax credits are available each calendar year. Donors must reserve tax credits on the Alabama Department of Revenue’s “My Ala-
bama Taxes” website after donations are made to AOSF. “We make a commitment that if we’re going to take these dollars that we are going to do the very, very best by these children. I anticipate that this will bring a whole group of children who will come up and support their state. They will be taxpayers and they will help the economy because they are well educated and well employed,” said Sharon Lewis, Associate Superintendent of Schools for the Southeast Adventist Schools in Alabama. AOSF parent Dalphine Wilson of Montgomery said, “Your tax dollars are hard at work funding scholarships and helping children like mine achieve academic success.” Reserve your tax credit today and give Alabama students an opportunity. For help reserving your tax credit, please contact Bri Jackson, Development Director, at 205-206-7803 or bjackson@alabamascholarshipfund.org. ____ Bruce Ely is a partner in the law firm of Bradley Arant Boult and Cummings LLP, which is proud to serve as general counsel to AOSF. Lesley Searcy is executive director of the Alabama Opportunity Scholarship Fund.
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BABC SALT CORNER Tips and Traps Regarding the Statute of Limitations for Refund Claims Bruce P. Ely and William T. Thistle, II, Bradley Arant Boult Cummings LLP, www.babc.com
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n our last article, we discussed the statute of limitations on assessments by the Alabama Department of Revenue (the “ADOR”) and selfadministered cities and counties. Additionally, we also identified several questions you should ask to confirm the validity of a statute waiver before executing it or allowing your client to do so. In this installment, we discuss the statute of limitations for filing refund claims and (if necessary) appealing denied refund claims. Statute of Limitations for Filing Refund Claims and for Appeals of Denied Refunds Alabama law sets forth two statutes of limitation regarding refund claims. The first statute of limitation applies to filing the refund petition: a taxpayer must petition the ADOR (or applicable local jurisdiction) for a refund of tax within “three years from the date the return was filed or . . . two years from the date of the payment of the tax, whichever is later, or, if no return was timely filed, two years from the date of payment of the tax.” Ala. Code § 40-2A-7(c)(2). That can be accomplished either by filing an amended return or by filing a separate petition for refund. For purposes of our article we will refer to both as a “refund petition.” The second statute of limitation applies to the appeal from a denied refund. If the ADOR (or local taxing authority) denies the refund, the taxpayer may appeal either to the Alabama Tax Tribunal (“ATT”) (or applicable local hearing officer) or to the appropriate circuit court “within two years of the date the [refund] petition was denied.” Ala. Code § 40-2A-7(c)(5). Refund Petitions Are Typically Deemed Denied After Six Months Most of us know that a taxpayer has two years to appeal a decision by the taxing authority to deny a refund claim. However, when does the two-year clock start? This is probably the most common mistake we see. All too often, taxpayers (or their advisors) wrongly assume that they have two years from the date the taxing jurisdiction actually notifies the taxpayer that the refund petition has been denied. This misconception is often caused by the taxing jurisdiction sending a letter to the taxpayer stating that it has finished its review of the refund claim and has determined that a refund is not due. The letter, which is often sent more than 8-12 months after the taxpayer filed its refund petition, typically goes on to state that the taxpayer THE ALABAMA CPA MAGAZINE
has two years from the date of the letter to appeal the denial. However, in all likelihood, the refund claim was probably deemed denied by operation of law long before the letter was sent. Under Alabama law, if the ADOR (or local taxing authority) fails to either grant or deny a taxpayer’s petition for refund within six months from the date on which the petition was filed, without entering into a written agreement to extend the six-month period, the petition for refund is automatically deemed denied. Ala. Code § 40-2A-7(c)(3). Given the length of time it takes to process a refund claim, a deemed denial almost always occurs, even though the taxing authority may still be actively reviewing the claim. Many taxpayers have forfeited their refund claims over the years because they waited to receive either an affirmative denial of the claim. Here’s a tip – when you file a refund petition (certified mail please), enter two dates on your calendar: (1) the deemed denied date six months from the date the petition was filed; and (2) the deadline to file a notice of appeal, which is two years and six months from the date the petition was filed. Does Filing an Amended Return to Claim Your Refund Re-Open the Statute of Limitations for Assessment? In previous audits involving a few of our clients, the ADOR took the position that an amended return filed by a taxpayer “restarts” the general three-year statute of limitations to enter a preliminary assessment. The ADOR’s purported authority for this position is a 2000 ruling by the former Administrative Law Division (now the ATT). In Dupree v. State Dep’t of Rev., Admin. Law Div., Dkt. No. Inc. 99-119 (Mar. 17, 2000), Judge Thompson allowed the ADOR to enter an assessment within three years of the date the amended return was filed, notwithstanding the fact that the assessment was entered more than three years after the date the original return was filed. We believe that ruling is probably incorrect because it is inconsistent with parallel federal law on which Alabama’s statute of limitation provisions were patterned. Thus, federal precedent should be considered by the Alabama courts when interpreting Alabama’s statute of limitations provisions. While we think it is likely that Judge Thompson would reverse Dupree
Bruce Ely
William Thistle
if given an opportunity, or another court would decline to follow Dupree, the opinion remains in effect for the time being. Consider yourself warned. Beware of the Retaliatory Audit Before granting a refund claim, a taxing authority will undertake an analysis to confirm its validity and amount. Recently, however, we’ve seen a more aggressive review of refund claims (particularly by local jurisdictions). Lately, in fact, filing a refund claim has been about as dangerous as poking a bear. Taxing authorities routinely audit taxpayers seeking a refund, not just to confirm the validity of the refund, but also to check compliance with other tax types. And in order to make sure the potential assessment is greater than the refund claim, we’ve seen several local jurisdictions take some fairly aggressive positions, which have cost taxpayers significant time and money to contest. That’s why we call them “retaliatory audits.” The prospect of a retaliatory audit is by no means an adequate reason not to file a valid refund claim, but it is certainly something to warn your client about. Therefore, we recommend considering your client’s overall tax position and exposure in a jurisdiction (i.e., all tax types, for all open periods) before filing a refund claim. Audits, especially retaliatory audits, can take a long time (sometimes years) to resolve. Oftentimes, the taxpayer waits too long to file its appeal of the deemed denied refund claim until the audit issues are resolved, mistakenly believing that the ongoing audit or the entry of a preliminary assessment holds the statute of limitations open to file an appeal. Thus, it’s critical to remember your deadline to file an appeal from the deemed denial of the refund claim even if the audit is still ongoing. In addition, you should not delay filing an initial refund petition during an audit unless a valid statute of limitations waiver extending the deadline to file a refund claim is in place. ______ © Bruce P. Ely/William T. Thistle, II/Bradley Arant Boult Cummings LLP/April 2015. Bruce was a co-author of TBOR 1992, the Local Tax Simplification and Local Tax Conformity Acts of 1998, and the Alabama Taxpayer Fairness Act of 2014. 15
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Hours Title Standard Fee 8 AICPA Peer Review Program Advanced Course 275 4 Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know 180 4 Healthcare Reform Act: Critical Tax and Insurance Ramifications 180 4 Controller’s Update: Today’s Latest Trends 180 4 Engagement Essentials: Preparation of Financial Statements 180 4 Social Security and Medicare: Maximizing Retirement Benefits 180 4 Position Your Organization for Success: Strategies for Today’s Competitive Environment 180 4 Revenue and Cash Receipts: Common Frauds and Internal Controls 180 4 Tax Consequences and Reporting Issues of LLCs, LLPs and LPs and Other Partnerships 180 4 Accounting Standards Review for Controllers and Finance Professionals 180 4 Fraud: Recent Findings, Red Flags, and Corruption Schemes 180 4 Tax Planning Strategies for Small Businesses: Corporations, Partnerships and LLCs 180 4 Lease Accounting - Where Are We Headed? 180 4 Accounting and Auditing Update 180 4 Capitalized Costs and Depreciation: Key Issues and Answers 180 4 A Practical Guide to Business Combination Standards: FASB Statements 141, 142 & 146 180 4 Statement of Cash Flows: Preparation, Presentation, and Use 180 4 Reviewing Individual Tax Returns: What Are You Missing? 180 4 What’s New in Compilations, Review, and the Cash and Tax Basis of Accounting 180 8 New “Repair Regs” - Sec. 263(a) 285 4 Healtcare Reform Act from employer side 190 4 Do It Yourself Business Intelligence 190 4 TBD 190 4 Physician Practice Management 190 4 QuickBooks Online - Changing the Paradigm of Small Business Accounting 190 8 Internal Controls and Risk Assessment: Key Factors in a Successful Audit 285 8 Core Issues Related to Properly Assessing and Responding to Financial Statement Audit Risk 285 8 Excel-Based Dashboards 285 8 TBA 285 8 Basis/Distributions for Pass-Throuh Entities: Simplifying the Complexities 285 8 Medical Finances: Enhancing Your Value to a Medical Practice 285 8 Core Issues Related to Properly Assessing and Responding to Financial Statement Audit Risk 275 8 Construction Contractors: Special Tax and Accounting Considerations 275 8 Internal Control Best Practices for Small and Medium Sized Intities 275 8 TBA 275 8 Healthcare WS 285 8 Auditing Employee Benefits Plans 285 8 Community Banking Update 285 8 Advanced Business Law for CPAs 285 8 2015 Accounting and Auditing Update 285 8 2015 Compilation and Review Update 285 4 Tax Planning for Small Businesses 180 4 Health Care Reform Act: Critical Tax and Insurance Ramifications 180 4 Fraud: Recent Findings, Red Flags, and Corruption Schemes 190 4 Data Security - led by the IRS 190 16 Yellow Book Workshop: Super Circular and Advanced Topics in a Single Audit 8 Identity Theft: Preventing, Detecting, and Investigating 285 8 Employee Benefits 275 8 The Complete Guide to Payroll Taxes and 1099 Issues 275 8 Audits of 401(k) Plans: New Developments and Critical Issues for an Effective and Efficient Audit 275 8 TBA 275 4 Revenue Cash and Receipts: Common Frauds and Internal Controls 180 4 Hot Tax Planning Developments Under the Current Tax Law 180 4 GASB Statement No. 68 Audit and Accounting Workshop 180 4 Fraud: Recent Findings, Red Flags, and Corruption Schemes 180 4 Reviewing Individual Tax Returns: What Are You Missing? 180 4 Not-for-Profit Organizations: Key Accounting and Reporting Considerations 180 4 Compilation, Preparation, and Review Engagements Update 180 4 Key S Corporations Tax Strategies and Compliance Issues 180 4 Technology Update 180 4 Engagement Essentials: Preparation of Financial Statements 180 4 Tax Planning Strategies for Small Businesses: Corporations, Partnerships and LLCs 180 4 Securing Your Data - Practical Tools for Protecting Information 180 8 Internal Controls and Risk Assessment: Key Factors in a Successful Audit 275 4 Sirote’s Hottest Tax Topics for CPAs 180 4 Cancellation of Debt for Individuals and Businesses 180 8 Advanced Excel 275 4 Current Issues in Accounting and Auditing: An Annual Update 180 4 Cancellation of Debt for Individuals and Businesses 180 4 Compilation and Review Guide and Update 180 4 The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them 180 4 Income Taxation of Estates and Trusts 180 4 The Auditor’s Responsibilities Related to Fraud and Abuse Under GAAS and the Yellow Book 180 8 FASB Review: Common GAAP Issues Impacting ALL CPAs 180 8 Federal Tax Update - Individual & Business Current Developments 190 4 Tailoring the Audit to Suit a Not-for-Profit Entity 180 8 Forensic Accounting Investigative Practices 275 8 Basis Calculations and Distributions for Pass-Thru Entity Owners - Schedule K-1 Analysis 295 8 Construction Contractors: Critical Accounting, Auditing, and Tax Issues in Today’s Environment 275 4 Revenue Cash and Receipts: Common Frauds and Internal Controls 180 4 Hot Tax Planning Developments Under the Current Tax Law 180
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Hours Title Standard Fee 4 Fraud: Recent Findings, Red Flags, and Corruption Schemes 180 4 Reviewing Individual Tax Returns: What Are You Missing? 180 4 Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know 180 4 Key S Corporations Tax Strategies and Compliance Issues 180 4 Engagement Essentials: Preparation of Financial Statements 180 4 Tax Planning Strategies for Small Businesses: Corporations, Partnerships and LLCs 180 4 Revenue Cash and Receipts: Common Frauds and Internal Controls 190 4 Hot Tax Planning Developments Under the Current Tax Law 190 4 GASB Statement No. 68 Audit and Accounting Workshop 190 4 Fraud: Recent Findings, Red Flags, and Corruption Schemes 190 4 Reviewing Individual Tax Returns: What Are You Missing? 190 4 Not-for-Profit Organizations: Key Accounting and Reporting Considerations 190 4 Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know 190 4 Key S Corporations Tax Strategies and Compliance Issues 190 4 Engagement Essentials: Preparation of Financial Statements 190 4 Tax Planning Strategies for Small Businesses: Corporations, Partnerships and LLCs 190 8 Upcoming Peer Review: Is Your Firm Ready? 285 8 Accounting Standards Review for Controllers and Finance Professionals 285 8 Sales and Use Tax Workshop: 6 hours of BABC content, 1 hour of ADOR content, 2 30-minute moderated sessions 285 8 Revenue Recognition: The New Perspectives 275 8 Payroll Taxes and 1099 Isseus: Everything You Need to Know 275 4 Accounting and Auditing Update for Nonprofit Organizations 180 4 Individual Income Tax Update 180 4 Applying the Lessons of Zappos to Nonprofits 180 4 Corporate Taxation: Advanced Issues 180 4 TBA 180 4 Maximizing Your Social Security Benefits 180 4 Cost Segregation and the Tangible Property Regulations 180 4 Individual Tax Planning Ideas for 2015 180 8 The Eight Hour MBA 275 8 Hot IRS Tax Examination Issues for Individuals and Businesses 275 8 Revenue Recognition: Mastering the New FASB Requirement 275 8 Multigenerational Financial and Tax Planning for Clients 275 8 Recognizing and Responding to Fraud Risk in Governmental and Not-for-Profit Organizations 275 8 Surgent’s Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs, and Partnerships 275 4 CFO Update 190 4 Small Business Fraud: The Lessons Behind the Stories 190 4 Revenue Recognition: The New Perspectives 190
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2015 CPE CATALOG IS NOW ON-LINE! Drive on over to the ASCPA website to review the Alabama Society’s education offerings for the year. You can map out your journey by moving straight ahead, or take detours to topics of special interest.
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Charlie Hickman of UAH (Continued from page 8) his students find each other. He has had the pleasure of seeing his graduates find jobs and prosper, both in public accounting and otherwise. He says his primary goal in life is seeing UAH succeed and prosper; to do that is to see that the students succeed and prosper. With regard to the profession, Hickman looked from the outside in while practicing law for 20 years. He worked closely with accountants in his tax controversy and transactional practice. While in public accounting it seemed to him that the profession was moving in a direction where marketing and packaging high profit “products” were changing and challenging the profession. Events such as the IRS’s going after corporate tax shelters and the various challenges the profession faced with the likes of Enron and WorldCom have been a subject of research for him. Those issues seemed to have refocused the profession on the underlying business of accountants: high quality, reliable financial reporting, audit and tax services. He notes that there were CPAs sounding the alarm all during the dark times, in every one of the organizations that failed in some way. Ethical challenges face us all frequently. He tries to impress 18
on his students that the ethical way is the best way in the end. And that is not always the easiest way. Hickman says his two favorite hobbies have been skiing and motorcycle riding. His most notable recent experience was riding his motorcycle to Alaska with Doug, a friend he met on an off-road motorcycle trip in the Copper Canyon region of Mexico. He says everyone should go to Alaska, it’s enormous and beautiful. He also says the trip up through British Columbia and the Yukon Territory was worth the price of the trip. So if you go and have a month to spare, drive. Or ride a motorcycle. Hickman was asked what keeps him up at night. He says it’s what keeps every dedicated professional up: not doing the job as well as he should. He says what lets him sleep most nights is knowing that he does the best he can, every day. That’s what he would like to share, do your best. That’s the most that should be expected of you. Charlie Hickman will retire in 2016. He currently serves on the Education Committee of the ASCPA, has been instrumental in bringing ASCPA programs to UAH and the other Huntsville area schools and is a big cheerleader for his students at the Society’s Accounting Interview Day. THE ALABAMA CPA MAGAZINE
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AICPA Discount *see note (where applicable)
Book Fee ($25 per course)
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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 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 Schedule online or in the ASCPA newsletter). *Electronic course materials are included in the registration fee and will be available for download 3 days before the course date. You can choose to purchase a paper copy of the course materials for an additional fee of $25 per course. I acknowledge that I will receive course materials electronically (included in course fee). I would like to purchase my manual for $25 per class Check: I have enclosed a check payable to ASCPA in the amount of $ ___________ I authorize the ASCPA to charge $ __________ to my credit card.
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THE ALABAMA CPA MAGAZINE
MC
AMEX
Year
Expiration Date
Personal Credit Card
________________________________________________ Cardholder’s Signature
2/23/15
19
Presorted Std US Postage PAID Permit No. 131 Montgomery, AL MAY
2015
The Alabama Society of Certified Public Accountants 1041 Longfield Court P.O. Box 242987 Montgomery, AL 36124
CLASSIFIED
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. FINANCIAL ANALYST WANTED: Civil Air Patrol (CAP), a 501c(3), is seeking a financial analyst to work at national headquarters in Montgomery. CAP is a volunteer organization of 58,000 members which conducts aerospace education and cadet programs, as well as Air Force flying missions. Applicants should have a degree in accounting; at least 5 years of broad-based accounting experience dealing with GL, AP and budgeting. Skills must include all Microsoft Office products. CAP offers a competitive salary and benefits including a 401(k) with company match, BCBS health insurance, flex spending account, company-paid life insurance, CPE allowance, plus vacation and sick leave. Submit your resume to HR@caphq.gov or fax to 334.953.9906. Go to www.gocivilairpatrol.com for additional information about Civil Air Patrol.
Fran Copeland is Outstanding Alumna at Auburn Montgomery
T
he Auburn Montgomery School of Accountancy presented its annual Outstanding Alumna award to Fran Copeland on Friday, April 17. Fran was a nontraditional student when she enrolled at AUM in fall 1982. She was inducted into Phi Eta Sigma Freshman Honor Society in 1983 and in June 1986 graduated with a BS in accounting. She earned her MBA in 1990. Copeland began her accounting career in 1986 with the Department of Examiners of Public Accounts, State Audit Division. She was promoted in 1988 and soon after was assigned to the Finance Department¹s Financial Resource Management System Task Force. She developed and wrote the State of Alabama Accounting Model. And in the fall of 1995 was selected by NASACT as one of two Americans to participate in an educational exchange program of the US Information Agency. Currently, she is assigned to the Executive Budget Office to assist in the development, testing, and training of all state agencies, colleges and universities on the web-based STAARS Budgeting System, which will go live October 1, 2015.
IN MEMORIAM HENRY WAYNE “HANK” WILSON June 16, 1973 - March 1, 2015 Tuscaloosa, Alabama Certificate #7979 ARTHUR BRUCE DUDLEY July 4, 1941- March 16, 2015 Mobile, Alabama Certificate #746 JOSEPH STEPHEN LEE February 15, 1951 – March 17, 2015 Mobile, Alabama Certificate #4620 HERSCHEL EWING MORRISON August 5, 1921 – March 26, 2015 Mobile, Alabama Certificate #176
TAKE A MOMENT TO REMEMBER THEIR SACRIFICE ON MEMORIAL DAY, AND EVERY DAY. THE ASCPA OFFICE WILL BE CLOSED ON MONDAY, MAY 25.