ALABAMA CPA MAGAZINE DECEMBER2013/JANUARY 2014
ANNUAL STUDENT 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.
Message from the Chair... When I graduated from Auburn in 1985, the CPA exam was much different from today. Then, you could only take the exam during two windows per year (May and November). If you were taking it in Alabama it meant 2 ½ LOOOOOONG days at the Montgomery Civic Center. There were four parts to the exam in 1985 – Accounting Practice I/II, Accounting Theory, Audit and Business Law and each time you registered for the exam, you were required to take ALL the parts that you had not passed. I guess there are some things that are still the same though – the exam is stressful, it requires a huge time commitment and passing provides a major sense of accomplishment. Since many of the colleges and universities today have incorporated a CPA review course into their graduate program, students have passed some, if not all, of the exam before they start their career. While the new graduates may have the CPA exam behind them, the learning never ends. Being a CPA and a trusted business advisor is a journey, not a destination. As CPAs, we have made a commitment to lifelong learning, and I believe that it is our commitment to learning that makes our profession like no other. Part of that commitment means reaching back to high school and college students. The ASCPA supports the development of students, both at the high school and college levels. Our Young CPAs recently completed the 2013 classroom blitz – Pay it Forward. This year they visited 45 high schools across the state and reached over 3180 students. If you know a young CPA that participated in this event, please thank them. By reaching out to high school students, we believe that we have a chance to influence their college career choice while also helping them become financially savvy. In the case of college students, the ASCPA Educational Foundation provided 33 scholarships during 2013/14 to students all across our state. The relationship is not one-sided, either, since we want them to become CPAs and future leaders in the Society. They become our Campus Ambassadors and invite us to campus. Just a few weeks ago, I had the opportunity to attend the AICPA Fall Council meeting and learned of yet another opportunity for us to reach students early. In 2010, the AICPA and AAA came together to form the Pathways Commission on Accounting Higher Education. The Commission studied many things, including adding an AP accounting course to high school curricula across the country. This new AP course will be tailored for college-bound students interested in accounting as a profession. This will require a grass roots effort and some time to get off the ground but will be just one more tool available to introduce high school students to accounting at an early age. As part of a push by the AICPA to keep abreast of education trends, Jeannine has been selected to serve on the AICPA Future of Learning Task Force. She will update us periodically on their findings. While technical knowledge is very important, we also have a responsibility to be community leaders. The ASCPA Leadership Academy Class IV will get started in May 2014. CPAs from our Firm have participated in each of the classes. These classes are led by Rainmaker Companies of Nashville and the classes provide each candidate with life skills that extend well beyond debits and credits. I asked a recent participant what she had learned from the Leadership Academy and she commented, “It has taught me that leadership has less to do with title and position and more to do with motivation and influence.” As 2013 comes to a close, I would like to wish all of you a Merry Christmas and a prosperous 2014!
May the glow of the holiday season remain with you throughout the year. The ASCPA staff looks forward to serving you in 2014.
Jeannine P. Birmingham, CPA, CAE, CGMA President and CEO Diane L. Christy, Editor Students at Hazel Green High School with Young CPAs Leah DellaCalce and Michelle Jenkins.
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STUDENT SUCCESS
Congratulations to YOU! 1
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You are talented and able students. This accomplishment is one among many as you begin your accounting career. The ASCPA looks forward to having you as a member and professional colleague for many years to come. 1 Katherine Andrews University of Alabama
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2 Kelsie Baer
Samford University
3 Lacourtez Banks
Troy University
4 Emelia Brooks
University of Alabama at Birmingham*
5 Bidisa Chandra University of Alabama at Birmingham Pearce Bevill Minority Scholarship 19
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6 Haiye Egli
Troy University Dothan
7 Sheldon Foster
Tuskegee University
8 Laura Giles
University of North Alabama
9 Michael Kernahan
Spring Hill College
10 James Knight
University of Alabama at Birmingham
11 Jessica Lowery
Alabama A & M University
12 Cassie McGowan
Jacksonville State University
13 Andrea McGregor
Auburn Montgomery
14 Julie Monell
Auburn University
15 Ann Nurse
Alabama A & M University*
16 Wofai Offem
Troy University Montgomery*
17 Rosaline O’Steen University of Alabama Kassouf & Co. 18 Phillip Otwell
University of Montevallo
19 Mala Patterson
Athens State University*
20 Samantha Peters
Auburn University* Kassouf & Co.
21 Charles Pickett
University of West Alabama
22 Alexandria Taylor
University of Alabama*
23 Erin Taylor
University of Mobile
24 Holly Vernon
Troy University
25 Joshua Walters
Troy University*
26 Warren Ward Huntingdon College 7
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27 Andrea Ware
Alabama State University*
28 Morgan Washington Miles College
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29 Abby Whitt
Athens State University
30 Blake Wilson
Alabama State University
31 Kelly Zajac
University of South Alabama
*Chairman’s Awards 3
STUDENT SUCCESS Chair-elect McCleod Starts Conversations with Alabama HBCUs
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on McCleod, Dothan sole practitioner, chair-elect of the ASCPA Board of Directors, member of the AICPA’s National Commission on Diversity and Inclusion, and subject of the 2004 award-winning video Pillars of Success is hitting the road. He’s been attending diversity events at the invitation of the AICPA and was a key speaker at the Accounting Leadership Development Conference which the ASCPA hosted last June. The conference is an annual AICPA event and brought 30+ students from the southern tier of states to the ASCPA for a day and a half program. You can read about it in the July 2013 magazine. McCleod felt that the Alabama Society could do more to increase diversity in the profession and decided to begin conversa-
tions with six of Alabama’s historically black colleges and universities. The schools that he and CEO Jeannine Birmingham will visit during late fall and spring are Alabama State University, Alabama A&M University, Oakwood College, Stillman College, Tuskegee University, and Miles College. “We want to know several things about their accounting programs and to ascertain where the ASCPA can help them fill gaps or offer resources. Some of the schools participate in all our programs, some participate in a few activities, and with a couple there is no relationship established”, McCleod said. “This is a great opportunity to hear from them, directly, and to see what role we can play in supporting and encouraging their students.” Are you a graduate of an HBCU? Do you
WHY JOIN THE ASCPA?
The cost (none) The swag (cool toys to keep and share) The networking (get to know CPAs) The internships (at the ASCPA and elsewhere) The news (Alabama CPA magazine – you’re reading it!) The cards (you get business cards identifying you as a member) The events (visits to your campus, Interview Skills Workshops) The career (you start it just by joining)
know a CPA who is? Have you taught adjunct at one of these schools? Do you serve on an advisory board? Contact either Don McCleod, dmccpa@bellsouth.net or Jeannine Birmingham, jbirmingham@ascpa.org, to provide feedback on your own experience.
Fall Intern James White
Go to www.ascpa.org. Done.
The ASCPA continues its intern program into 2014, recruiting students from schools in central Alabama. This fall’s intern was James White, son of Barbara White, CPA and ASCPA member, who is on faculty at Huntingdon College where James is a senior. The students do routine administrative work as well as special projects. They’re encouraged to participate in as many programs as possible while with the ASCPA. Both James and summer 2013 intern Ashley Clark attended Annual Meeting. 4
The Alabama CPA MAGAZINE
Kelsie Baer
Laura Giles
n the fall of my sophomore year, as a French major, I took my first accounting class. It was completely different than I expected, and for the whole semester, I dreaded my French class and looked forward to my accounting class. The material clicked with me, and I liked the way accounting is more like putting together a puzzle than simply crunching numbers. My teacher, Mrs. Sharon Jackson, clearly communicated the job opportunities and security that an accounting major gives. I quickly realized that I belonged in the business school, and after discussions with Mrs. Jackson and with my family, I switched my major to accounting. The audit practice in particular was attractive to me because of the client interaction and the opportunity to learn how many different types of businesses work. Accounting has been a great choice for me, the job market is very good, and the recruiting process gave me strong guidance in finding an internship. I plan to attend Samford’s MAcc program next fall and take the CPA exam in the fall and early spring. I hope to pass all four parts of the exam several months before graduating with my masters, enjoy the summer off, and then begin work at a public accounting firm. At this point, I don’t have many plans beyond starting work. One thing I would like to experience is an overseas tour, which is one of the biggest reasons I chose to work at a Big Four firm. After a few years at a firm here in the States, I would love to be transferred to an overseas office and spend time in another culture. I believe this will only benefit me and the people around me, and I think that having a global mindset is absolutely vital in today’s business environment.
t’s funny how I decided on accounting as my major. I actually took accounting in high school to get out of having to take physics! I ended up loving every minute of the class and realized in the process that I was also very good at it. I researched some more, and I saw that job security was great and the pay was very promising once the proper education was obtained. My accounting teacher, Mrs. Carlton, pushed me to consider accounting as a major in college. My father is a selfemployed farmer, and I have always liked
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the thought of owning my own business one day, so I knew accounting skills would make me more successful when I launched. I will complete my undergraduate work this December, and I will begin my MBA, with a concentration in accounting, in January here at the University of North Alabama. I plan to finish the program by next December. I will begin sitting for the CPA exam both during this time and directly after graduate school. Long-term, I hope to obtain a job with a Big Four accounting firm in the southeast region, and to get at least ten years of experience in public accounting. I would then like to open my own practice somewhere in middle Tennessee/north Alabama.
Campus Ambassadors
Campus Ambassadors (recipients of Educational Foundation scholarships) have invited Young CPAs and ASCPA staff to eleven accounting clubs, NABA or Beta Alpha Psi meetings during the 2013/14 academic year. The following visits occurred this fall, with the balance scheduled for the new year. • University of Alabama • Samford University • UAB • UNA • Auburn Montgomery • Auburn University • University of West Alabama • Troy University
NABA chapter Wofai Offem Accounting Club Mallory Bradley and Bree Holland Beta Alpha Psi Heather Benoit and Mary Beth Terrell Accounting Club Allison Blair Accounting Club Sheri Jones Beta Alpha Psi William Hughes and Amanda Reeder Accounting Club ASCPA staff and Charles Baughman, ITAC Accounting Club Valiece McKelvey
In addition, staff also attended these events: • University of Alabama Meet the Firms, sponsored by Beta Alpha Psi • Troy University Accountancy Day and Meet the Firms • Auburn Montgomery Meet the Firms • Joint Leadership Development Conference sponsored by the Alabama State Department of Education. This last program was a day and a half for 5700 high school students from all over the state at the Birmingham-Jefferson Civic Center. It was an amazing opportunity to meet with middle and high school students and their teachers.
Thank you, Becker Review! A huge thank you, once again, to Becker Professional Review. Each semester they generously provide a half-scholarship to an Alabama accounting student preparing for the CPA exam. Quinita Jackson of Troy University received the scholarship in fall 2013. Ms. Jackson is completing her graduate year at Troy, attended the Accounting Leadership Development Conference in June 2013 and was a recipient of an Educational Foundation Chairman’s Award in 2012/13.
National Meet the Firms Week The ASCPA supports the National Meet the Firms Week and College Frog as another way for accounting majors to get matched up with public accounting firms. In September 2013, Alabama was represented by 14 firms and 264 students from 16 schools. Alabama’s participation grew 41% since the spring, representing the 4th largest increase among states. Alabama currently ranks 9th in student profiles and 6th for registered firms. The Alabama CPA MAGAZINE
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update Alabama Society of CPAs Alabama Society ofSchedule CPA's Condensed of Activities Condensed Schedule of Activities For the Years Ended April 30 For the Years Ended April 30 Compiled from consolidated audited financial statements Compiled from consolidated audited financial statements 2013 Net Revenues Over (Under) Expenditures
2012 Net Revenues Over (Under) Expenditures
$
332,651 697,567 10,390 (241,093) 19,490 (46,196) (30,831) (34,755) 11,530
$
$
718,753
$
1,198,193
Management and general expenses Net realized/unrealized gain on assets Other revenues
$
(523,847) 126,452 82,840
$
(517,017) 61,842 87,371
Net Revenues Over Expenditures
$
404,198
$
Expenditures
Programs:: Professional Development Seminars Membership Quality Review Public Relations Scholarships and awards Newsletter Conferences & committees Chapter activities Political Contributions Total Program Services
$
$
Charges for Services, Dues, and Contributions
918,130 55,491 129,650 241,093 81,425 69,943 288,153 217,236 500
$
2,001,621
$
1,250,781 753,058 140,040 100,915 23,747 257,322 182,481 12,030 2,720,374
398,859 645,304 19,619 (227,522) 419,573 (49,947) (29,541) 8,829 13,019
830,389
Chapter Activity chapter rev chapter exp 35,490.00 83,463.00
(86,139.00) (2,459.00) (79,104.00)
61,401.00
(49,534.00)
2,127.00 $ 182,481 $ (217,236) (included on separate line item; pulled from workpaper TB-04)
Notice to Membership: Proposed By-law Amendment The ASCPA Board of Directors met August 23, 2013 and unanimously voted to submit to the membership a by-law amendment changing the ASCPA’s governance structure. The proposed by-law amendment would reconfigure the board to a flexible number of members (11-15) in the following way: 3 executive officers – chair, chair-elect and immediate past chair 6-10 board members serving three-year terms 2 AICPA Council representatives From the ASCPA Governance Task Force: Board members should be able to address complex issues occurring in a radically changing environment. They should also possess excellent communication and leadership skills. The current issues facing associations like ours include time constraints, membership diversity, generational values, competition and technology. Thus, board members must be competency-based, diverse and willing to actively serve. The ASCPA Nominations Committee would be responsible for selecting/nominating the slate of board members in addition to officers of the board. Chapters and individual members will be encouraged to nominate leaders for officers and members of the board of directors. You can access the complete language of the amended by-laws on the ASCPA website, www.ascpa.org/aboutus, along with FAQs about the proposed changes. The vote will take place via email, and members will receive their ballots on February 3, 2014. There must be at least 400 ballots returned by the due date in order for a quorum to be declared and two-thirds must be in favor of the proposed changes for them to take effect. Upon approval of the by-law amendment, board members will be elected by members at the ASCPA Annual Meeting.
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The Alabama CPA MAGAZINE
Selected Financial Information Revenues 2013
Selected Financial AlabamaInformation Society of CPAs - Revenues 2013 Alabama Society of CPAs
Contributions 4%
Conferences & Meetings 11%
Membership 28%
Other Program Charges 1%
Newsletter Magazine 1%
Investment Income 6% Quality Review 5% CPE Seminars 44%
Selected Financial Information Expenses 2013
Selected Financial Information Alabama Society of CPAs- Expenses 2013 Alabama Society of CPAs
Conferences & Meetings 9%
Membership 2%
Other Program Costs 10%
Magazine Newsletter 3%
Public Relations 10%
CPE Seminars 40%
Administration 21%
Quality Review 5%
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PAY IT FORWARD CLASSROOM BLITZ
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schools, 50 presentations, 57 volunteers and 3184 students spread over the week of November 18-22. The numbers continue to stagger, moving closer to 20,000 students who have learned from a CPA how to be more money smart. Hats off to chapters who mobilized their members to sign up, especially to tiny Wheeler Basin who filled their slots really quickly, and to Leadership Academy alumni who stepped up. This year, accounting faculty volunteered as well as scholarship recipients. It’s a testament to the ASCPA family that participation included members from so many backgrounds. A special thank you goes to Dawn Morrison of the Alabama State Department of Education for her valuable support of this program.
VOLUNTEERS Sam Allison
Mike McCutchin
Gary McCombs
Dan Post
Connor Jones
Susan Hogeland
Scherri Nix
Cheryl Naugher
Scott Sanders
Jeff Sims
Patrick Barker
Derrick Keith
Helen Gabre
Williams Hughes
Amanda Reeder
Lisa Albritton
Laura Taber
Mary Beth Higgins
Michelle Jenkins
Leah DellaCalce
BJ Gilbert
Charles Brinson
Michelle Dooley
Kristi Daughtery
James Wishon
Tashantia Stewart
Jeannine Birmingham
Andrette Munnerlyn
Matthew Lazenby
Emma Cole
Wofai Offem
Laura Giles
Marilyn Watson
Ben Wallace
Daniel Tew
Billie Ann Taylor
Joshua Bowen
Thomas Parish
Tracy Suggs
Diana Russell
Bryan Robinson
Amy Jordan
Keena Calloway
PJ Talley
Kris Walters
Fernanda Luiken
Viki Gryksa
Rob Pearson
Melanie Grace
Jennifer Taylor
Robert Haynes
Chantelle Miner
Tara Speigle
Matt Stanford
Emily Reischman
SCHOOLS Vestavia Hills
Oak Mountain
Shelby County Hewitt-Trussville
Woodlawn
Chelsea
McAdory
Calera
Curry
G.W. Carver
Auburn
Opelika
Reeltown Hazel Green
Murphy
Alma Bryant
Spanish Fort
Robert E. Lee
Carver
Robertsdale
Autauga County Tech Bullock County Tech Sheffield
Florence
Sardis
Pike County
Charles Henderson
Enterprise
Daleville
Gadsden City
Highland Home Headland
Slocomb Carroll Northview Holt Northridge Hillcrest Demopolis 8
Tuscaloosa Career Tech
Fairview Hartselle
Paul W. Bryant Lawrence County Tech The Alabama CPA MAGAZINE
“We had a wonderful time at the Demopolis High School! This is an awesome program and I hope to participate for years to come.� Melanie K. Grace, CPA, CGMA
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SAVE THE DATE
Young CPA Charity Golf Tournament Sponsored by June 4, 2014 Robert Trent Jones Golf Trail – Oxmoor Valley
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The Alabama CPA MAGAZINE
DOING IT BETTER
Bright Ideas Workshop
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SCPA staff love meeting members; at the Annual Meeting, during conferences and seminars, at chapter meetings and events here in the office. But there is a ton of communication that happens with non-CPAs, whether by phone or email. And these relationships help keep the wheels rolling by sharing news about members of their firms, about community events they sponsor or awards they received. Other firm staff, sometimes identified as firm administrators, plan and manage education events. In order to create closer relationships between these vital staff members and the ASCPA a free half-day workshop was held on November 19. Jamie Thomas, Association of Accounting Marketers (AAM) 2013 Marketer of the Year was the star of the day. She is the marketing director of the LBA Group in Jacksonville, Florida and flew in to be the morning’s guest speaker. She brought plenty of bright ideas to share; solid practices which have helped her firm quadruple their annual billing in the 14 years she’s been on board. The response to the workshop was overwhelmingly positive and the ASCPA plans to make it an annual event. Please contact Diane Christy, dchristy@ascpa.org or Jennifer Oleksa, joleksa@ascpa.org to add your marketing or education staff to the invitation list for 2014 or to schedule CPE for your staff.
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Thank you to those who attended: • Joy Breedlove, Pearce Bevill Leesburg Moore • Dana Schmidt, Warren Averett • Jerry Weisenfeld, Warren Averett • Cindy Scott, Jackson Thornton • Rebecca Baker, Aldridge Borden and Company • Joel King, King and Company • Angela Cocke, Russell Thompson Butler and Houston • Lacey Bacchus, Barfield Murphy Shank & Smith • Craig Snell, Carr Riggs & Ingram • Tanjia Foster, Bern Butler Capilouto & Massey • Chambliss Brister, Smith Dukes Buckalew
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MEMBERS IN MOTION Promotions and New Positions Aldridge Borden & Company announced that Ashley Lough has been promoted to firm administrator and Jessica Hudson has been promoted to manager. Lough began her career with the firm after graduating from the University of Alabama. She has primarily served in the firm’s assurance Ashley Lough services division, where she had been instrumental in the development, implementation and maintenance of the firm’s quality control functions. Jessica Hudson primarily works in the attestation group and specializes in nonprofit organizations, governmental entities and single audits. Hall Albight Garrison & Associates of Huntsville announced the promotion of Rachel Bowers to manager in the audit and attestation department. Jennifer League has joined Mid-South Bank in Dothan as senior vice president and chief financial officer. League Rachel Bowers will oversee financial reporting, budgeting, investments and asset/liability management. League is a graduate of the University of North Alabama and received her master’s degree from University of Alabama in Huntsville. She has more than 14 years of financial experience.
Pugh, LLC. The firm was founded in Gadsden, Alabama by Sanford A. Willis in 1986 and continues its long-standing tradition of client centered services. See us on the web at www.wbp-cpa.com. Warren Averett has been named Leading Edge Alliance (LEA) Global’s 2013 Innovative Firm of the Year. This award was announced at the annual conference of LEA Global in San Francisco. “One LEA firm stood out as the most innovative firm of the year, not just for this organization, but perhaps for the entire profession,” stated Karen Kehl-Rose, President of LEA Global. “In
two years, this firm has transitioned from a large regional firm to a Southeastern powerhouse. Their expansion has been strategic and deliberate, allowing them to recognize lucrative opportunity while also ensuring smooth transitions and uninterrupted operations.” Warren Averett has grown substantially over the last few years to become one of the largest accounting firms in the Southeastern region, ranking among the top 30 firms in the United States. With more than 800 employees and 340 CPAs, the firm offers depth and experience in a variety of industries.
Awards and New Designations Lori Hall, Bank Independent of Sheffield Assistant Comptroller has graduated from the Alabama Bankers Association Alabama Banking School. The school is a three year course and Hall was one of 52 bankers who completed the course. Hall is a graduate of University of North Alabama with her undergraduate and graduate degrees. Anglin Reichman announced that Chris Taylor has earned the designation of Certified Valuation Analyst.
Community News Adam Finesilver and Garrett Cook have formed a new firm, Cook & Finesilver, LLC. It is a full-service accounting firm located in The Waters of Pike Road (Montgomery area) starting in January 2014. Willis, Boatner & Whiteside, LLC has changed its name to Willis Boatner 12
The Alabama CPA MAGAZINE
Albert Schweitzer
Uncom prom ising We believe the most significant investment made is the investment in a life of uncompromising commitment.
welchhornsby.com
The Alabama CPA MAGAZINE
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EDUCATION Express No.
Date(s)
Field of Study Title Location
WEB170 12/12/13 Other Social Security Benefits: Advising Clients WEBCAST WEB171 12/16/13 AA Dealing with Venture Capitalists WEBCAST WEB172 12/17/13 Tax Preparing Form 706: The Federal Estate Tax Return WEBCAST 181-13 1/6 and 1/7/14 Tax AICPA’s 1040 Tax Return Workshop by Sid Kess 175-13 1/8/13 Tax Surgent McCoy’s Federal Tax Camp 182-13 1/9 and 1/10/14 Tax 2013 Corporate Income Tax Boot Camp by Sid Kess WEB035 1/15/14 Other Health Care Conference WEBCAST WEB048 1/17/14 AA Finding and Evaluating Frauds: A Case Study Approach WEBCAST WEB061 1/22/14 Other College Financial Planning Webcast WEB088 1/29/14 Other Nonprofit Financial Management Critical Competencies, Knowledge and Tools WEB081 1/29/14 AA1/Tax7 Tax Accounting Basics Webcast
AICPA Early Bird *Registration Non-Member Discount Member Fee Fee Fee
WEBCAST WEBCAST WEBCAST Montgomery $30 Birmingham Montgomery $30 WEBCAST WEBCAST WEBCAST WEBCAST WEBCAST
$230 $230 $230 $500 $250 $500 $230 $230 $230 $230 $230
$255 $255 $255 $525 $275 $525 $255 $255 $255 $255 $255
$305 $305 $305 $575 $325 $575 $305 $305 $305 $305 $305
View all upcoming courses and webcasts at www.ascpa.org
4 Save the Dates
2014 Conferences Women’s Summit Annual Meeting Beach Clusters Sandestin
May 8 June 5 June 23-26 July 20-24
Birmingham Birmingham Gulf Shores Destin, FL
Small Practitioners Tech & Industry Financial A&A Conference Governmental A&A Forum
August 6-7 August 18-20 September 19 December 3-4
Montgomery Birmingham Montgomery Birmingham
Nominate Someone YOU Know for the Women to Watch Awards
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he 2014 Women to Watch Awards for the Alabama Society of CPAs will be given at the 2014 Women’s Summit on May 8, 2014. Awards will be given in two categories, Established Leaders and Emerging Leaders, as defined below. It should be noted that evidence of every item listed is not required for consideration, but nominees should have made significant contributions in at least two of the criteria listed below. Submissions are due to the Alabama Society of CPAs no later than December 20, 2013.
Experienced Leaders
Emerging Leaders
Defined as one who has advanced to a higher level or leadership position within the organization. Titles include, but are not limited to: partner, owner, elected official or appointee, executive, etc.
Defined as a professional who has made significant contributions to the profession and her community, but who has not yet reached the highest levels of advancement.
• Authorship of articles • Major or unique contribution to the profession • Public and/or community service • Mentoring other professionals* • Improvement to the workplace * More heavily weighted than other criteria
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• Public and/or community service • Demonstration of leadership • Contribution to the profession • Creation and implementation of unique initiative(s) • Involvement with alma mater or other local colleges and universities For nomination forms and more information about the nomination process, membership status, requirements, or nomination categories, please contact Melissa Wellander with the Alabama Society of CPAs at 334.834.7650 or mwellander@ascpa.org.
The Alabama CPA MAGAZINE
DOING IT BETTER
SaveFirst is looking for a few good CPAs
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By Stephen Black
aveFirst trains college and graduate students to offer free, IRS-certified tax preparation services and opportunities for economic improvement to low-income, working families—especially targeting those eligible for an Earned Income Tax Credit, the federal government’s largest and most successful antipoverty program for lowincome, working families. However, 75% of Alabama’s EITC recipients pay an average of $200 to commercial tax preparers just to access this benefit. In Alabama, more than 500,000 families claim an estimated $1 billion through the federal EITC each year. However, these families lose millions of dollars through fees to a predatory, largely uncertified tax preparation industry that specifically targets families eligible for these high-refund credits. In just its seventh year alone (2013), SaveFirst trained over 425 college, graduate, and law students from sixteen campuses who prepared tax returns for more than 6,200 working families in Alabama—helping them to claim $11.7 million in refunds and saving them approximately $1.9 million in commercial preparation fees. We’re asking members of the Alabama Society of CPAs who may not be actively practicing to join with us in this effort. As a volunteer tax assistant for SaveFirst, your professional experience will help ensure that low-income families receive the highest quality service. You will assist site coordinators by answering complex tax questions, preparing advanced tax returns, and providing quality reviews of returns. Prior to volunteering at the site, you will need to attend a brief training in IRS/VITA requirements, TaxWise filing software, and SaveFirst site logistics, and pass the IRS certification test. The sites open at the end of January and remain open
The Alabama CPA MAGAZINE
through early March. SaveFirst requests a volunteer commitment of 25 to 40 hours over the course of the 6-week period, but we are more than happy to work with you at the level of commitment best suited for you. The sites we coordinate are in Birmingham, Bessemer, Tuscaloosa, Montgomery, Auburn, Mobile, Dothan, Decatur, Huntsville, Florence, Anniston and Jacksonville. For more information, contact Sarah Louise Smith, Executive Director, Impact Alabama, 205.876.4282, slsmith8@aalan.ua.edu.
WOW! Snorkeling in Florida with cow-nosed rays is so cool. Want to swim with dolphins this afternoon but have to complete education credits instead? Let the ASCPA’s web-based offerings take the sting out of your dilemma. All you need is your laptop, a shady spot by the pool and WiFi.
www.ascpa.org/CPE
Flipper never had it so good.
HARD SHOES TO FILL? Where filling someone’s shoes is concerned, we get it. Fit goes beyond the shoe’s size to the style and comfort of the wearer. Otherwise, wouldn’t everyone walk around in the same shoes? We believe that when you connect the right person to the right job and the right individual to the right company, the shoes will be just right. We’re here to help you find the person to step into these shoes, And to make sure they can HIT THE GROUND RUNNING.
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Providing temporary/contract, contract-to-hire, and direct hire staffing solutions. SOLUTIONS
Birmingham | Mobile | Huntsville | Nashville 15
Presorted Std US Postage PAID Permit No. 131 Montgomery, AL DECEMBER 2013
JANUARY 2014
The Alabama Society of Certified Public Accountants 1041 Longfield Court P.O. Box 242987 Montgomery, AL 36124
Classified PRACTICE FOR SALE IN HUNTSVILLE – Grossing $75,000, primarily from tax prep. For more information, please contact Lori Newcomer at 888-277-6040 or LNewcomer@APSLeader.com or visit AccountingPracticeSales.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.
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No, not immigrants, struggling to find their place in a new country, the ASCPA wants your old STUFF. Specifically, materials for our growing archive. Look for old photos, CPA certificates, and other memorabilia and send it to us for preservation as we move towards the celebration of the Society’s 100th anniversary in 2019. Who knows? Your grandfather’s old ledger books may be a visual reminder of members who paved the way for today’s professionals. Certificate #34 belonged to Mr. Rex Ashdown and recently came to the Society from his widow.
Contact Jeannine Birmingham for more information, jbirmingham@ascpa.org, 334.386.5750.