AZ
CPA OCTOBER 2014
The Arizona Society of Certified Public Accountants
Keeping an Eye on
technology Accounting Software Platforms • Transmitting Information Successful Financial System Implementation www.ascpa.com
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© 2014 Services provided by Bank of Arizona, a division of BOKF, NA, Member, FDIC. BOKF, NA is a subsidiary of BOK Financial Corporation. *Results are from the 2013 Phoenix-Hecht Cash Management Monitor Survey, which y monitors both public and private U.S. corporations with sales of $40 million and greater. It ranks corporations in three performance categories: product performance, bank perception and relationship management.**BOK Financial is among the top 25 largest U.S.-based commercial bank holding companies in the U.S., based on total assets, according to SNL Financial as of 12/31/13.
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AZ
CPA OCTOBER 2014
Volume 30 Number 8
CPAs Have the Key to Make Financial Systems Implementations Successful
15
Which ERP Accounting Software Platform to Choose?
19
Basic skills, principles and professional standards can drastically improve your chances of a successful financial system implementation. by Bill Richardson, CPA, PMP
Evaluating On-Premise, Hosted-Owned, Hosted-SaaS or Cloud-SaaS as your software platform. by Nickolyn Hansen, CPA, CMA, MBA/MIS
Features
Collaboration and Connection through Evernote
Technology Theme Issue Locking it Down: Transmitting Sensitive Information to Clients
13
Find out the best solutions to solve the problems of taxrelated identity theft. by Benjamin Podraza, CPA, MST, CGMA
Arizona Society of Certified Public Accountants 4801 E. Washington St., Suite 225-B Phoenix, Arizona 85034-2021 www.ascpa.com
4 AZ CPA y OCTOBER 2014
21
How a CPA regained the love of journaling through an app! by Peter Harris, CPA, CMA
Columns & Departments 6
Chair’s Message by Anita Baker, CPA
8
Focus on Members
11
A Dash of SALT by James Busby, Jr., CPA
24
Board of Directors’ Highlights
25
In the Black ... Adventures in Accounting
26 Classifieds
AZ
CPA
The Arizona Society of Certified Public Accountants
President & CEO
Cindie Hubiak
Editor
Patricia Gannon
Copy & Advertising Deadline The first of the month one month prior to publication date. Board of Directors Chair Chair-Elect Secretary/Treasurer Directors
Anita Baker Rob Dubberly Greg Nelson Gary Fleming Randy Fletchall Diane Groover Sandra Hieb Mike Holt Bill Judge Adam Miller Molly Montgomery Jennifer Nordstrom Vanesa Romero Jared W. Van Arsdale Craig Van Slyke
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Immediate Past Chair Karen Abraham AICPA Council Members Karen Abraham Armando Roman Chapter Presidents Southern Chapter Northern Chapter Southwest Chapter North-Central Chapter
Flo Zenblu Kay McConagha Jayne Wright Richard Joliet
AZ CPA is published by the Arizona Society of Certified Public
Accountants (ASCPA) to provide information, news and trends in the profession of accounting. It is distributed 10 times a year as a regular service to members of the Society. The ASCPA, its members, board of directors and administrative staff assume no responsibility for advertisements herein. The ASCPA and the above people also assume no liability for business decisions made by readers in reference to statements and/or claims in advertisements within this publication. Opinions expressed by correspondents and contributors are not necessarily those of the ASCPA.
Arizona Society of CPAs 4801 E. Washington St., Suite 225-B Phoenix, AZ 85034-2021 Telephone (602) 252-4144 AZ Toll-Free (888) 237-0700 Fax (602) 252-1511
www.ascpa.com OCTOBER 2014 y AZ CPA
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Chair’s Message
by Anita Baker, CPA
What is on the Horizon? Do you ever wish you could know what will happen in the future? It would be so easy to make plans if you only knew the challenges you would face in your personal and professional life. Of course, this is out of our control so we have to continually prepare for changes in our life and have a positive view of our future. Earlier this year, I was asked to reflect on the past three years as part of a personal strategic planning process. As I reflected on some of the challenges in my personal and professional life, I was amazed by my ability to adapt to the situations while continuing to focus on the future. In 2008, my oldest son graduated from high school and enlisted in the U.S. Marine Corp. This was by far the most difficult situation that I had faced as a mother. For 17 years, my focus had been on ensuring the safety and well-being of my son and now he was leaving to serve his country. During his service as a Marine, he had some excellent experiences, including presidential security detail in Washington D.C. and traveling to South Asia with a MEU (Marine Expeditionary Unit), a quick reaction force, deployed and ready for immediate response to any crisis. In 2012, he was deployed to Afghanistan and spent seven months in Sangin, a town in Helmand province of Afghanistan. As part of the infantry unit, he patrolled the town and trained the Afghan police. This experience, though difficult, was important in the development of his character and leadership skills and will shape his future. He completed his military service in June 2013 and is in Phoenix attending college, working and a father of a fivemonth-old daughter. In addition to thinking about my son serving overseas each and every day, I also had to focus on changes in my career. On January 1, 2012, our firm went through a significant merger which doubled our revenue and personnel. As an owner of the firm and a managing principal, I had significant involvement in the integration of our people, processes and strategies. This change, along with the significant events in my personal life, strengthened my ability to deal with change as a normal part of
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personal and professional development and prepared me for other challenges that I will face in the future. In 2010, the AICPA initiated a grassroots effort focused on harnessing the insights of CPAs, business leaders, regulators, thought leaders and futurists into the continuing evolution of the CPA profession. CPA Horizons 2025 is a visioning initiative which engaged thousands of CPAs and dozens of other important stakeholders which created a blueprint for the profession into the future. The project examined the local and global trends affecting CPAs in their daily work, enlisted opinions on how these trends will impact CPAs in the years ahead, and how the profession could meet the challenges and leverage opportunities now and in the coming years. Insights and directions related to opportunities and challenges for the profession over the next 15 years emerged. Using the following insights and directions as a road map, CPAs and the accounting profession can mold their future. Technology: Understand and leverage relevant technology in conjunction with core CPA Competencies to deliver superior services. Pre-certification and Lifelong Learning: Evolve the educational framework to keep pace with the changing dynamics of business, government and our profession. Worldwide Profession: Position the CPA as a premier designation of the accounting and finance profession throughout the world. Pride in the Profession: Encourage
pride among CPAs in the CPA profession and in the value CPAs create throughout society. Trusted Attester: Preserve the role of the CPA as the trusted attester of financial and other information. Trusted Advisor: Promote the CPA as the trusted advisor who, in addition to providing core CPA services, develops solutions to complex problems by integrating knowledge, expertise and resources from multiple disciplines.
Marketplace: Address continual changes in the marketplace, economy, businesses and regulations. Value Proposition: Increase the visibility of the profession’s value proposition by demonstrating the profession’s Core Values in multiple areas of business and society. Demographic Shifts: Continue to offer opportunities that enhance the appeal of the profession and be proactive in addressing both U.S. and global demographic shifts. As I reflect on my personal life and career, there have been many challenges and opportunities that have contributed to my ability to deal with change and have given me a road map for dealing with the future. There are so many opportunities for CPAs to continue to be the trusted advisor for our businesses and clients. The ability to use our past experiences and to understand the trends affecting the future will help us make wise decisions and ensure that we continue to be a valued resource in AZ CPA business and society.
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Focus on Members Curtiss Smith, CPA, of MidFirst Bank, has been elected to serve on the board of directors of DrugFreeAZKids. org. Terry Mullane, CPA, of The Business Plumber, was elected to the board of directors of the Eventinterface Professional Advisory Board. Gary “Ross” Dietrich, CPA, was promoted to partner at Price Kong Co., CPAs. Deitrich is also currently the chair of the ASCPA’s Construction Industry Conference (Oct. 29). Hunter Hagan & Company, Ltd. participated in the Annual NAWIC (National Association of Women in Construction) Red Rose Bowling Tournament with three teams: Bad Assets, Ten Keys and Lively Liabilities. “It was a great day even though we didn’t win the silly socks contest.” Pictured (left to right): (back row)—Jenna Sanstead, Todd Keilen, Denise Pauley, Debbie Revoir, Rayleen Colletti (member of NAWIC), Bridget Phillips, Vicki Harris. (front row)—Kristen Otsuka, Patrick Trybus, Kara Crabtree with Lorelai Therrien, Lauren Hunter and Jeanne Therrien.
Henry & Horne, LLP has been honored with the 2014 When Work Works Award, which recognizes companies for exemplary workplace practices.This is the 9th time the firm has received the national award. CliftonLarsonAllen LLP recently hired Ryan Seeton as an associate in their assurance department. Jennifer Mandrick is now a senior tax accountant for REDW LLC. Congratulations to Ashley Cole, CPA, senior staff accountant at GAMPAC (and former ASCPA staff member), who recently received her CPA certification. Arizona Helping Hands, Inc., appointed Dan Shufelt, CPA, as executive director.
Henry & Horne, LLP partners got soaking wet for a good cause after accepting the ALS Ice Bucket Challenge. Chuck Goodmiller, co-managing partner, Chuck Inderieden, co-managing partner and Bradley Dimond, partner, went above and beyond, getting soaked not by one bucket but five! Henry & Horne, LLP is also making a donation to The ALS Association. To see their video, click https://www.youtube.com/watch?v=z0XyU97a-uc.
The following ASCPA members are in the 2014-15 class of Suns Charities 88: Ben Cilek, CPA, Apollo Education Group, Inc.; David J. Dobrusin, CPA, David J. Dobrusin, CPA, PLLC; Theresa Esparza, CPA, Spirit Realty Capital Inc.; Paul Evans, CPA, Kahala Corp.; Staci Ivanisko, CPA, EY; Chad Kunze, CPA, CliftonLarsonAllen LLP; and Kevin O’Neill, CPA, KPMG, LLP. •••
CBIZ MHM, LLC raised more than $1,200 in one week for the Dress for Success program. Activities included a bake sale, raffle and jeans days where employees paid money to wear jeans throughout the week.
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In Memorium
Thomas Kase
Committed to a
strong and healthy ArizonA For 75 years, we have been helping take care of Arizonans. We focus on the health of our members and the well-being of the communities in which they live. That’s why we’re proud to support Arizona Society of CPAs and the work they do to foster a strong and thriving business
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climate now and far into the future.
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A Dash of SALT Arizona’s Sales Taxes on Proceeds From Leasing Real Property Apply to More Than Just Rent Payments This month’s state and local tax (SALT) column focuses on the scope of the tax base for the sales taxes that apply to persons or companies engaged in the business of leasing real property to the tenant in actual possession of that property. Although the State of Arizona does not currently impose sales tax on proceeds from renting real property, four of Arizona’s 15 counties (Gila, Maricopa, Pima, and Pinal) impose sales tax at the rate of 0.5% on such proceeds. In addition, most Arizona municipalities impose sales tax on proceeds from renting real property at rates that vary from 1.0% in Sierra Vista to 4.0% in Fredonia and San Luis. The county version of this tax does not apply to transactions involving residential property. On the other hand, the real property rental tax imposed by most Arizona municipalities applies to proceeds from residential rental properties as well as to proceeds from commercial rental properties – but some Arizona municipalities do not impose tax on residential rental properties if the lessor only has one or two residential rental properties. For real property rental transactions that are subject to Arizona county and/ or municipal sales taxes, the tax base is the lessor’s “gross income,” less any allowable exemptions. “Gross income” includes more than just the amount paid by the lessor’s tenant as rent. Rather, it includes all amounts paid to or on behalf of the lessor, including items such as: 1. Property tax paid by the lessee, either as reimbursement to the lessor or paid directly to the tax collector on the lessor’s behalf; 2. Insurance paid by the lessee, either as reimbursement to the lessor or paid directly on the lessor’s behalf; 3. Common area maintenance charges paid by the lessee;
4. Payments by the lessee for the promotion of the facility or of the lessee; 5. Flat fees paid by the lessee for telephone and reception services, clerical services, library services, reproduction services or facsimile services when such services are contracted for as part of the lease or are obligatory under the lease; 6. Utility connect/disconnect charges; 7. Phone, food, and beverage machine commissions; 8. Repairs and improvements to the leased property made on behalf of the lessor; 9. Reimbursement for utility service in excess of the actual amount charged by the utility company; 10. Pet fees; and 11. Nonrefundable charges, such as cleaning charges. See Arizona Administrative Code § R15-5-1604, Arizona Transaction Privilege Tax Ruling TPR 95-17, and Model City Tax Code § _ -445. Refundable deposits are not part of gross income at the time of receipt if they are accounted for as a liability rather than as income. But: 1. Any portion of a refundable deposit that is retained by the lessor as a forfeited deposit shall be included in gross receipts subject to tax. 2. Any portion of a refundable deposit that is not claimed by the tenant at the time the tenant departs shall be presumed to be abandoned property if not claimed within five years from the
date of departure pursuant to A.R.S. Title 44, Chapter 3 and shall be reported and delivered as unclaimed property to the Department after the five-year period of time has elapsed. 3. If amounts reported as income are claimed as refundable deposits, the burden of proof shall be on the taxpayer to show that the income reported is not gross receipts subject to tax. In addition to the forgoing items, Arizona municipalities also impose tax on proceeds from licensing the use of real property. Practice Tip! Many real property owners who lease property to others do not realize that Arizona sales taxes often apply to their rental income. And, for those who are paying rental tax(es), the most common audit liability is for failure to pay tax on amounts they receive in addition to rent payments. Savvy CPAs help their clients make sure they are paying the AZ CPA taxes on their “gross income.” James G. Busby, Jr., is a state and local tax attorney and CPA at The Cavanagh Law Firm. Busby previously worked in the SALT departments at Arthur Andersen and Deloitte & Touche. A Dash of SALT™ is provided for informational purposes only and does not constitute legal counseling. Contact the author at (602) 322-4146 or jbusby@cavanaghlaw.com. Correction Notice: Last month’s SALT column title should have read: How Arizona Sales Tax Reform Will Affect All Businesses Subject to Arizona Sales Tax.
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from a particular source. The magnitude of personally identifiable information CPAs are privy to makes them attractive targets for these types of attacks. Encrypting Files
Locking it Down: Transmitting Sensitive Information to Clients by Benjamin Podraza, CPA, MST, CGMA
While the electronic transmission of data has undoubtedly resulted in productivity gains, the rampant increase of tax-related identity theft has made security a paramount concern for tax professionals across the country. The Gramm-Leach-Bliley Act (GLBA) requires that CPAs: (1) ensure the security and confidentiality of their clients’ information; (2) protect against any anticipated threats or hazards to the security or integrity of such information; and (3) protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience for the client. A CPA can be held liable for severe civil and potential criminal penalties for noncompliance. Even if the CPA were not held liable by GLBA, they could likely be held in violation of Section 7216, which empowers the IRS to impose criminal penalties for knowingly and recklessly disclosing tax information. The Risk
Most businesses seem to have already taken first step measures in limiting their liability by installing virus scanning software, personal firewalls and hardware that segregates the firm’s local area network from the Internet. Larger challenges occur when information is transmitted to or requested from external sources. Unencrypted email is sent in clear text. Despite the fact that transmissions pass through multiple routers and bridges while en route, it is entirely possible for a targeted attack to capture substantially all of the transmissions coming to or going
There are a few different methods available for CPAs to securely transmit information across the internet. One popular method that has been adopted by many firms is to use Abode Acrobat’s encryption feature. Acrobat X and later uses a 256-bit Advanced Encryption Standard that is at par with the specifications laid out in IRS Publication 1075 – Tax Information Security Guidelines for Federal, State and Local Agencies. Although 256-bit encryption is secure enough to make brute-force attacks useless, advanced PDF recovery software can make use of a combination of advanced mask and dictionary attacks to make the recovery of passwords feasible. Quite a few firms in Arizona are currently encrypting their tax return files using the last four digits of the individual social security number or employer identification number, which is kind of like setting the password on your computer to “password.” Even if a perpetrator doesn’t know the encryption key, when sent as an attachment to a plain text email, they can grab the file and use one of the many downloadable and easily accessible applications to access the protected files with minimal effort. Online Portals
A better solution is to encrypt the entire transmission of data. There are several vendors that provide encrypted portals that allow transmissions to, storage on, and downloads from their servers in an encrypted format. The most popular portals currently in use utilize 256-bit encryption, although more advanced portals are now using 1024-bit or even 2048-bit RSA encryption. Beyond the level of encryption, however, is the fact that the connection between the server and the end-user is itself encrypted, so even if the transmission can be intercepted, the data cannot
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be interpreted. Portals maintained by third-party providers are password protected, so an encrypted session cannot be established by an unauthorized user. Many of them are maintained by and integrate with tax software providers, which can curtail the adverse impact on productivity. One of the biggest strengths of this option is one of its biggest disadvantages. The additional security features require clients to browse to a new website and remember yet another username and password combination in order to access their information. It is for this reason that many firms are reporting that less than 20 percent of clients are utilizing the portals. Even clients that do make use of the portals may occasionally get lazy and send sensitive documents in an unencrypted format from time to time. Encrypted E-mail
Encrypted e-mail systems can provide a flexible, secure, and stable option. These systems typically use point-
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to-point encryption that makes it safe and simple to transmit sensitive data. Similar to a portal, the sensitive files are stored on a secure server. Messages are sent with a link that contains a powerful randomly-generated encryption key that allows the recipient to decode the message. Communications to and from the server are encrypted using the Secure Socket Layer (SSL) protocol and are typically stored with 128 or 256-bit security. Some systems are designed to automatically scan uploaded files for viruses and many of the more popular products integrate seamlessly with popular email software. The Best Solution
The best solution is a balanced approach that is going to be firm specific. The size of your practice will weigh in on this decision. Larger firms are obviously more attractive targets for malfeasance than smaller firms. Because they are more likely to attract sophisticated attacks, it would be wise to implement security protocols that
are more advanced than their smaller counterparts. On the other hand, simply ignoring the threat just because you are only doing a few hundred returns is not only irresponsible, but an invitation for a lawsuit or worse. The most convenient solution is a simple file level encryption, but this method is easily compromised. The highest level of security would be a solution that encrypts both the transmission of data to and from a portal or email server and encrypts the actual files you are transmitting, but it is probable your clients will complain about this many layers of security. The firm should use the highest level of security possible that does not reduce productivity unacceptably or discourage clients from making use of the technology. AZ CPA Benjamin Podraza, CPA, MST, CGMA, is a sole practitioner CPA that provides tax, accounting and personal financial management services to clients throughout Arizona. He can be reached at ben@ podrazacpa.com .
our services and to adequately supervise our staff in the performance of those services. We’re also required to collect sufficient relevant data to support our positions. We’re required to discharge our professional responsibilities with competence and diligence. Too often I observe that the Finance organization takes a back seat to IT on these projects. Since we’re implementing a new technology, isn’t it just another IT project? Absolutely not. In my experience, it takes the combined skills and experience from both IT and finance to be successful. The same principles of planning, supervision, competence and diligence apply to the systems project as they do to the professional services performed by the CPA. But many in IT lack those kinds of skills – they need to be supplied to the project by Finance.
CPAs Have the Key to Make Financial Systems Implementations Successful by Bill Richardson, CPA, PMP
This year marks the 25th anniversary of the AICPA’s annual Top Technology Initiatives Survey. The survey queries members in public practice, industry, and government in the U.S. and Canada about their top IT priorities for the coming year and their confidence levels in achieving those priorities. For the last several years “Managing Systems Implementations” has been in the top ten, usually in the middle of the list. And for the last several years, our confidence levels have hovered around just under 50 percent. So, it’s important enough to make the top ten, but less than half of us believe we’ll be successful? If you Google “failed ERP implementations” the news is not good. About half of these projects do fail, and many fail spectacularly. Many failures are in the millions of dollars; if you include the failures by governmental entities, the costs are the hundreds of millions. We’ve even seen recent failures that have breached the billion dollar mark. Rather than create just another “top ten things to get right” list, in this article we’ll focus on how some of the basic skills, principles, and professional standards we follow every day can drastically improve your chances of success. Due Professional Care
One of the six principles of the AICPA Code of Professional Conduct is the principle of “Due Care.” CPAs are required to properly plan the performance of
Planning
Planning the audit and planning the implementation both start with scope. A detailed and clear definition of scope is critical to both types of work. In the systems world, defining the scope is like peeling an onion. As you get into further and further details of scope, more and more questions arise. You may need to make some assumptions about how the solution will be configured, how it will be used, and how it will be integrated with other applications. IT hates making assumptions, but CPAs plan based on assumptions all the time. Too often I work with IT during the planning stage and they assert that they can’t define the scope until the business defines the requirements. That’s hogwash. Scope should be stated at the level of estimable work units, e.g. what business processes need to be designed, the number of custom reports to be developed, or the number of test scripts to draft and execute. You need to know enough about the solution, the complexity, the degree of fit, the degree of change, etc. to define the scope. But you don’t need the detailed requirements list for that. The requirements are important to gather – just not in the planning stage.
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Estimating
Once you have the scope defined in terms of deliverables (work units to be built by the project team), we need to estimate the work effort in days or hours. The skills and techniques we learned in Cost and Managerial Accounting are directly applicable to systems implementations. In a standard costing environment, we break down the manufacturing process into activities. Each activity accumulates direct, indirect, and overhead
costs. At the end of the manufacturing process, you have a finished good. To properly value that inventory, we may employ the concepts of standard costing. A system implementation follows the same process. Each phase, activity, and task generates a deliverable. Every deliverable can and should have a standard cost for direct labor. It’s a very simple activity to identify the deliverables to be produced and to assign a standard cost in hours to pro-
duce them. However, I hear IT lament all the time that they can’t determine what the standard cost should be for a deliverable. What was the actual cost for that deliverable on the last project similar to this one? If we don’t have actuals, break down each activity to its lowest level and create one. IT hates that. But CPAs do that all the time. An estimate is better than no estimate. Too often we start these projects without a clear picture of the number of deliverables we’ll produce and what the standard cost is to produce them. That’s a clear recipe for failure. Professional Skepticism
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AU-C Section 200, requires that the auditor maintain professional skepticism throughout the planning and performance of the audit and defines professional skepticism as “an attitude that includes a questioning mind, being alert to conditions that may indicate possible misstatement due to fraud or error, and a critical assessment of audit evidence.” I firmly believe that most projects fail because their original plans were overly optimistic. Frequently, the project scope was not clearly defined or it wasn’t detailed enough. Or, the complexity wasn’t sufficiently understood. Mistakes in scope definition, complexity assessment or in the standard costs used will all result in an understated work effort estimate. If the work effort estimates are understated, then the project team will be under-resourced, task durations will be too short, and the overall project budget will be too small. Once the work starts, and deliverable production is late, and the schedule starts to slip, you’ll see the cumulative effect of the planning failures. But why can’t we see that earlier in the process? I’ve observed that organizations take as gospel any plan that’s put in front of them without questioning the work that went into its development, whether from internal IT or from an external consultant. What happened to our professional skepticism?
Every estimate, every plan, every projection that we see should be followed up with these questions: How do you know it will take that long? What have you done to confirm that these staffing plans are correct? When was the last time we did something like this that quickly? What else are the resources in this plan assigned to do during this same time frame? Show me that this plan is accurate, realistic, and achievable. IT may hate those questions, but they’re the same questions we ask during every annual budget cycle. And challenging our thinking up front about scope definition, complexity, work effort estimates, staffing assignments, task durations, etc. is much better than waking up half-way through an implementation and realizing that you need to triple the budget and double the duration.
indicators of project failure is poor planning. Second only to poor planning is poor decision making and poor governance. In every project there are hundreds to thousands of decisions that need to be made and they need to be the right decision made at the right time. A clearly defined decision making framework should define who has decision rights over what types of decisions; what kind of supporting information is required for decisions; how are decisions documented and communicated; who has veto and override rights; when do decisions need to be made and what happens if we dither, or worse what happens if we change our mind in a subsequent phase of the project, etc. Most projects try to follow the decision making chain of command that exists within the company. Those projects will find success elusive. Projects that define the decision making framework
within the context of the project will tend to achieve better success. Financial systems implementations generally follow a pretty simple process: select the software, install it, configure it, integrate it with other applications, train the users, convert some data and go live. The impacts of scope, the magnitude of the change, the personalities of the people involved, the politics of the organization, the decision-making power centers, other projects or normal business operations competing for the same resources, etc., all combine to make them exciting and frustrating and full of risk. But CPAs have the skills, the experience, and the mind-set, i.e. all the “right stuff” to help make them more successful. AZ CPA Bill Richardson, CPA, PMP, is principle of Richardson Management Consulting. He can be reached at bill@richardsonconsulting.us or (602) 418-4796.
Internal Controls
CPAs are keenly aware of the importance of internal controls in the production of and the audit of a company’s financial statements. Controls over transaction processing, risk assessment, monitoring, and governance are all considerations for the control environment. Those same components apply to the systems implementation project. The project team is just like the financial reporting entity. The deliverables to be produced are just like the financial statements. Just like the financial reporting entity, the systems implementation project team needs operating guidelines, tools, templates, processes, monitoring and governance to produce accurate and timely deliverables. Too often I see project teams rely completely on the operating model proposed by their system integrator. Those are usually a good starting point, but they tend to focus solely on implementing the technology, which is just one aspect of these types of projects. The standard consultant’s operating model should be tailored to more completely fit the needs of the client. As noted above, one of the primary
AXIOM
Financial Advisory Group, LLC
Wealth management for high income, high net worth individuals and highly profitable business owners. • Financial Planning • Investments • Retirement Plans Armando G. Roman, CPA/PFS MBA Wealth Manager/Financial Advisor
Gainey Ranch Financial Center 7373 E. Doubletree Ranch Rd., Ste. 170, Scottsdale, AZ 85258 (480) 367-9000 • www.axiomcorp.com Registered Representatives offering securities and advisory services through Independent Financial Group LLC, a registered broker-dealer and investment advisor. Member FINRA/SIPC. Independent Financial Group, LLC and AXIOM Financial Advisory Group, LLC are not affiliated. Office of supervisory jurisdiction: 12671 High Bluff Dr., Ste. 200, San Diego, CA 92130.
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21st Century Mobility with Cloud Accounting
Discover the benefits offered by AICPA-endorsed INTACCT CLOUD Accounting for your organization.
Nickolyn Hansen, CPA, CMA, MBA/MIS President Intacct Certified Implementer Intacct Certified Provider (602) 404-7297 • info@nms-nh.com www.nms-nh.com
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On-Premise Platform
The organization owns the EAS and the supporting hardware and software. Advantages for the organization: • Knows where its data resides and can access the database tables. • Can maintain the archived database when the organization is ready to migrate to another EAS. Disadvantages for the organization: • The cost and stress of purchasing the EAS’s supporting hardware and software and paying for experts’ time to setup, maintain, and upgrade them, including the EAS. • Responsible for keeping the data secure, making backups, and recovering after a disaster. Hosted-Owned Platform
Which ERP Accounting Software Platform to Choose? On-Premise or Hosted-Owned or Hosted-SaaS or Cloud-SaaS By Nickolyn Hansen, CPA, CMA, MBA/MIS
You may be asking yourself which ERP accounting software (EAS) platform is best for your organization: On-Premise, Hosted-Owned, Hosted-SaaS, or Cloud-SaaS. This is a valid question for every organization. This article provides an overview of the platform environments where an EAS may reside, including some of their advantages and disadvantages. It does not cover setting up the actual EAS. The same basic components for all the platforms are the hardware and software. The primary differences occur when determining ownership, the locations of both hardware and data, accessibility, and the EAS architecture. The architecture of an On-Premise EAS, whether it’s Hosted-Owned or HostedSaaS, has the same database framework. Therefore, each organization has its EAS installed and upgraded on an individual basis; this is the reason different organizations can be on different versions of the same EAS at the same time. Accessing the data for the On-Premise platform will be determined by the organization. The host provider will determine the accessing method for both Hosted platforms. The architecture of a true cloud EAS is built on the multi-tenant concept where all the data for everyone are in the same database framework and can be accessed the same way via Internet browsers. Therefore, everyone using the EAS receives the vendor’s upgrades at the same time.
The organization owns the EAS, but not the supporting hardware or software which are accessed through a user-license subscription from a host provider that may charge an initial setup fee. Depending on the contract, either the organization or the host provider will install and perform the ongoing upgrades for the EAS. Advantages for the organization: • Does not have to purchase the EAS’s supporting hardware and software and pay for experts’ time to setup, maintain, and upgrade them. • Has the option to bring the EAS back On-Premise if the host provider sets up the organization’s hosted environment to enable this future option. • Can still access the database tables if the host provider sets up the organization’s hosted environment to enable that access. Disadvantages for the organization: • Monthly or Annual costs are established by the host provider and will increase over time. • Each workstation will likely need pre-setup for remote access to the EAS. Some EAS vendors have a web-browser user interface, but this usually requires more setup and
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web services that may increase the monthly or annual hosting fee with the host provider. Hosted-SaaS Platform
The organization does not own the EAS or its supporting hardware/software. It will purchase user-license and module subscriptions from a hosted provider that may charge a setup fee and will be responsible for on-going upgrades. Advantages for the organization: • Does not have to purchase the EAS, the EAS’s supporting hardware and software, and pay for experts’ time to setup, maintain, and upgrade them. • Upgrades should be performed by the host provider. Disadvantages for the organization are the same as the Hosted-Owned, and in addition: • Database tables will not be accessible to the organization. • Moving database tables to an On-Premise platform is unlikely, but possible, depending on database install configuration. Cloud-SaaS Platform
The organization does not own the EAS or its supporting hardware and
software. It will purchase user-license and module subscriptions from a vendor that will be responsible for on-going upgrades. Advantages for the organization: • Does not have to purchase the EAS, the EAS’s supporting hardware and software, and pay for experts’ time to setup, maintain, and upgrade them. • EAS is accessible from internet browsers, making it mobile and very convenient. • Vendor provides upgrades, and the organization will always be on the latest version. Disadvantages for the organization: • Monthly or Annual costs are established by the host provider and will increase over time. • Database tables will not be accessible to the organization. • Moving database tables to an OnPremise platform is not an option. The organization will want to verify that it owns the data in all situations with either a Hosted or a SaaS platform. Also, verify the provider or vendor is responsible for backups and disaster recovery services, provides 24/7 technical support, has close to 100% EAS accessibility, and is SSAE 16 Type II audited
ERP Accounting Software Platforms Factors On-Premise
and PCI DSS certified where applicable. Please note, if the organization stops making the hosting fee payments, the host or SaaS provider will stop access to the organization’s accounting data. When host providers or vendors offer discounts, they may also require a commitment from the organization for multiple years. The first year’s cost outlay for an EAS is usually less for SaaS platforms (Hosted-SaaS and Cloud-SaaS) than for ownership platforms (On-Premise and Hosted-Owned). For all the platforms, it is important to have an “Exit Strategy” that includes both transactional data and scanned documents for when the organization chooses to migrate from its current EAS to another EAS opportunity. Planning up front for the end helps reduce unexpected AZ CPA surprises at the back end. Nickolyn Hansen is Intacct Implementation and Service Providers Certified and Dynamics GP Certified Masters. She has been involved with technology for more than 25 years and does ERP accounting software implementations, training, and ongoing support. She can be reached at nhansen@nms-nh.com or visit www.nmsnh.com.
Install Location
Your Servers
Hosted-Owned Provider’s Servers
Hosted-SaaS Cloud-SaaS Provider’s Servers Vendor’s Servers
Hardware & Upgrades
You Purchase, Maintain, & Upgrade
Provider’s Responsibility
Provider’s Responsibility
Vendor’s Responsibility
Software License
Capitalized with Annual Maintenance Expense
Capitalized with Annual Maintenance Expense
Monthly or Annual License Fee
Monthly or Annual License Fee
Software Upgrades Your Responsibility
Depends on Contract with Provider
Provider’s Responsibility
Vendor’s Responsibility
Hosting Fee None
Monthly or Annual User-License Fee
Included in Monthly Included in Monthly or Annual Fee or Annual Fee
Data Table Access Yes
Yes
No
Data Security; Your Responsibility Provider’s Backups; Recovery; Responsibility Scalability
No
Provider’s Provider’s Responsibility Responsibility
Retain Legacy Data
Keep Hardware & Software Archival Fee or Working Download Data
Archival Fee or Download Data
Architecture
Individual Database
Individual Database Multi-Tenant
20 AZ CPA y OCTOBER 2014
Individual Database
Archival Fee or Download Data
from using a pen and paper. You don’t have to wonder how this happened. It seems as if the keyboard is the standard way we write now. Practically every application requires some keyboard input. I don’t think this by any means is a bad thing, but I think that we have lost a little of the magic created from the written word.
Collaboration and Connection through Evernote Or How I Regained the Love of Journaling Through Technology by Peter Harris CPA, CMA
I am writing this article to share with you how I have used journaling to help my business. I have always enjoyed taking notes and using pen and paper. In college, I found that when I wrote things out, I retained more and learned more. Over the last 20 years, I have drifted farther and farther away
We can use technology to bring back the journal and make it a tool we can use more effectively than ever before. Through a program called Evernote, which has teamed with Moleskine, a company famous for making journals, we can now merge technology and the beautiful practice of journaling. I started this article with a snippet from one of my journals. I was able to capture the journal by using a smartphone application from Evernote on my cell phone. I just took a picture of the note. The note is then posted in a virtual journal of my choosing. I can sit in a coffee shop and rattle off business ideas and have a place to put all my thoughts. This is just one example. The concept itself can go way beyond this, but I wanted to make this point about bringing writing into your practice, because I think this alone can bring some magic into your life. There are other benefits to using Evernote. Here are just a few benefits: • Collaborate with clients, colleagues, family and others by sharing journals online • Create different journals for different reasons — vacation, personal diary, business goals or ideas, letters and postcards, or whatever you like. • Create a place to capture thoughts, ideas, and inspirations without losing them forever. • The text is searchable, even if it’s written. You can use the old keyboard method also, or combine the two. • Gather photos, web articles, newspaper articles, jokes, videos, recordings (like when you see they are recording an important speaker at a tax seminar). • These are virtual journals, so you
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Increase your clients’ cash flow by unlocking the additional depreciation deductions buried in their real estate.
Cost Segregation Studies For a complimentary feasibility analysis of their property call Brizel & Associates costseg@costsegstudy.com (480) 963-2872 www.costsegstudy.com
Construction Industry Conference October 29 Desert Willow Conference Center, Phoenix There were changes to sales tax that will become effective January 2015. What is your liability? Find out how this impacts the construction industry exponentially. It could cost tens of thousands and upwards of a million dollars on large projects. Attend this conference for the latest developments. Other topics include: • How to Protect Your Business and Legal Interests – From Bid through Completion and Beyond • Practical Implementation of Healthcare • Get Connected – Stay Connected • Department of Labor – Arizona Pilot Program (EMCAP) • Deconstructing Worker’s Classification in the Construction Industry • Ethical Issues in the Construction Industry: No Lecture, Just Cases You Can Relate To • Legalized Medical Marijuana – Repercussions to the Industry Learn more and register at www.ascpa.com, click on Conferences
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can use one notebook and still strategically place your writings in their own virtual notebook. • You don’t have to worry about losing your journal, and you can create passwords to keep your information private when and where you desire. • _______Put your own idea here! I enjoy technology, but sometimes it has taken me farther away some of the things that really matter, like getting in touch with myself. Technology can take us away from getting in touch with what really matters in our profession as well. Through my experience with the written journal, I have found ways to dig deeper into exploring business ideas and expand my personal growth and I recommend it AZ CPA to my fellow CPAs! Peter Harris, CPA, CMA, of PHFactor CPA PLC, can be reached at peter@ phfactorcpa.com.
Problem with the Board? Contact: Former Accountancy Board Member
D. Jay Ryan Attorney at Law City North 5415 E. High St., #200 Phoenix, AZ 85054 (623) 937-3737 or (602)840-8075 (fax) Free Telephone Consult Mr. Ryan is a former Assistant Attorney General who represented the Board. The Board’s first lay member/ President Law Committee Member ASCPA Honorary Member
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Highlights of Board of Directors’ April Meeting Among other actions at its July 30, 2014 meeting, the ASCPA Board of Directors reviewed the following:
30th Annual Arizona Federal Tax Institute Conference November 6-7, 2014
Black Canyon Conference Center, Phoenix Get the latest tax updates at this two-day conference featuring the following topics: • 2014 Estate Planning • Considerations when Navigating the Offshore Voluntary Disclosure Maze • IRAs – Easy to Get Into, Easy to Make a Mess Of • Bubbles or Balance? • ADOR Update • Tax Engineering Concepts: Cost Segregation, Repairs and Energy • Comparing the CPA’s Role in Safe Harbor and Targeted Partnership Allocations • Penalty Games: Reducing IRS Penalties • What’s Wrong with S Corps? • “We Will Be Retired When This Comes Up For Audit”: How CPAs and Lawyers Get Trapped By That “Gray Area” of Ethics • How the Medicare Surtax Applies to Rental Income • Income Tax Update Attend one or both days Learn more and register at
www.ascpa.com and click on Conferences
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Auditor Report The 2013-2014 financial report was given by the independent firm of Mayer Hoffman McCann P.C. An unqualified audit report was issued. The board expressed appreciation for the significant work done by Mark Landy, audit committee chair. Consent Agenda The consent agenda, which included the board minutes, financial statements and changes to the 2014-2015 strategic measurements, was approved. Conflict of Interest Policy Board members reviewed and signed the conflict of interest policy as part of the annual process. Nominating Committee Report The board approved the names to serve in the nominating committee and also had a conversation on the areas of expertise that the committee should explore when adding the new directors. Phoenix Business Journal Ray Schey, publisher, and Cathy Vix, senior multimedia strategist, of the Phoenix Business Journal visited the board. Schey shared his background and observations on the Arizona business climate. AmyK Examples and Lightning Round Heidi Frei and Cindie Hubiak led the board in an exercise to identify new approaches for reaching ASCPA goals. Anita Baker shared how she leveraged this information from Leadership Day and applied it at her job. Strategic Update Cindie provided an update on membership renewals and advocacy matters. She also updated the Board on staffing
changes, along with the on-boarding process used at the ASCPA. A Day in the Life Sandra Torre and Rick Goldenson shared the challenges and joys they experience in their life and job. Rick Goldenson also reflected on his board service, thanking the board members and staff for his experience. Jim Buhr sent a letter indicating the same.
Don Farmer’s Tax Update Oct. 31
Back at the Biltmore Resort!
Other Business No other business was conducted. If you have questions or would like additional information, please contact Cindie Hubiak at (602) 324-2888; AZ toll free at (888) 237-0700, ext. 203; or chubiak@ascpa.com
In the Black ... Adventures in Accounting
Register at www.ascpa.com
Concept: Heidi Frei; Illust.: Jack Gannon
Let’s TPT them!
Learn about the spooky tax changes for contractors that are scheduled to begin Jan. 1, 2015 at the Construction Industry Conference on Oct. 29. More information at www.ascpa.com. OCTOBER 2014 y AZ CPA
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Classifieds Business Opportunities/ Practices for Sale CPA FIRM SEEKING TO BUY CLIENTS — Established over thirty years, we are experienced in smooth transitions and maintaining high client retention. We specialize in servicing small to medium businesses. If you are planning on retiring, we can customize a transition for you. If you want to downsize or change careers, we will buy part of, or your entire client base. We service the entire metropolitan Phoenix area and offer complete accounting and tax services. Call Craig today at 480-9902727 or email craig@awcpas.com. CPA Firms Seeking to Support Positive Succession Plan — CPA firms seeking flexible succession plan – REDW is a regional CPA firm looking to acquire Phoenix based CPA practices. Ideal candidates are those firms that provide tax and consulting services to high net worth individuals and businesses with collected billings between $250,000 and $1,000,000 annually and are looking to transition their clients and fulfill a succession plan. REDW provides a flexible succession plan model with opportunity for owners and team members to earn income and participate in REDW benefits. Contact Mike Allen at mallen@redw.com or call (602) 730-3602 to learn more about this opportunity. TUCSON CPA TAX PRACTICE AVAILABLE FOR MERGER/BUYOUT — Two retirement minded partners of a $1 million, primarily tax practice in Tucson seek a firm that wants to merge or buy out the partners. The practice is highly profitable with a strong concentration in business and individual tax preparation and consultation. Firm would also consider a strong candidate to buy into the practice. Please send inquiries to yazzr33@ gmail.com or CPA 6590 North Regal Manor, Tucson, Az 85750. LOOKING TO RETIRE OR SLOW DOWN? — If you are looking to retire,
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slow down or part with some or all of your practice, please give us a call. We are a CPA firm in the central valley that has been around for 30 years. We have acquired many accounting firms and have had great results for both the seller and us. We would enjoy speaking to those of you that might be interested in how we might be able to work together and/or transition your firm with ours, please contact me at robert@azmoneyguy.com. Merger opportunity — CPA (sole proprietor) looking to slow down/ retire over several years is looking for a qualified firm or individual to merge/ associate with. Clients consist of primarily high income business owners and professionals. Potential firm/individual must be experienced with high income professional clients and have personal and professional skills to work with clientele. Clients serviced are all in the Phoenix/Scottsdale/East Valley areas. Would like to work out transition plan/buy out. Very flexible. Please send inquiries to eastvalleycpa@gmail.com.
Employment AUDIT AND TAX ASSOCIATES — Tull, Forsberg & Olson is looking for experienced CPAs in auditing and/or tax who enjoy working in a team environment and have excellent analytical and problem solving skills. Please email resumes to kforsberg@tfocpa.com. SENIOR TAX MANAGER — CPA required. Prepare and review complex business tax returns. Part time position. Dynamic firm. Paperless environment. Highly technical. Qbooks, Lacerte, RIA and Practice CS are utilized. Flexible hours are available. Attach resume in pdf to lams12@aol.com. TAX AND AUDIT PROFESSIONALS — REDW — As one of the largest, fullservice CPA and business consulting firms in the Phoenix metropolitan area, REDW provides a broad range of services to a diverse client base. Our rapid growth and increasing demands for our
services has created a need for highly motivated tax and audit professionals to join our Phoenix team. Successful candidates will have the opportunity to enhance their technical and professional skills, build and expand client relationships, and learn from industry leaders. If you are looking for a career instead of job and have what it takes, apply at: redw.com/careers or contact Jessica Taylor at jtaylor@redw.com. TAX STAFF — Henderson Willis Jorgensen, PLC- Rapidly expanding East Valley CPA firm is seeking experienced Tax Staff to prepare business and individual returns. QuickBooks knowledge and experience required. This is an excellent “ground floor” opportunity. Please send resume togerry@ hendersonwillis.com. SENIOR ACCOUNTANT OR MANAGER — Rauch, Hermanson, Everroad & Rentschler is looking for team members to join our firm in both the tax and audit departments. Candidates should be Certified Public Accountants or individuals actively pursuing this designation. Ideal candidates include those with 2-8 years’ experience in public accounting. Quick learners, self-starters, team players and diligent individuals thrive in our environment. Meet our team and you will see our culture is highly collaborative, dynamic, and genuinely interested in each other. A team member’s salary is contingent upon experience. Our compensation package includes extensive benefits. www.arizonacpa.com. STAFF ACCOUNTANT — Stryker - Are you eager to learn and establish yourself as a subject matter expert in a fast paced, performance driven environment? This role will oversee, implement, and maintain general accounting systems and procedures for the Stryker Sustainability Solutions team. This role will also ensure the accurate compilation, analysis, and reporting of general accounting records for the division, and be responsible for ad-hoc reporting, cross-departmental projects, process
improvements, and cross-training. Stryker Sustainability Solutions is the leading provider of reprocessing and remanufacturing solutions for hospitals in the United States and beyond. We help reduce 3,400 tons of medical waste per year! Go to www.Stryker.com/careers and reference: Search ReqID: 269BR, Staff Accountant. CPA/ Tax Associate (Tucson 85712) — Quick, Mitchell & Maish, PLLC - Seeking Tax Associate to assist in the preparation of tax returns (Individual, Business, Trust and Estate). Will also be responsible for communication with the taxing authorities regarding tax issues. Bachelor’s degree required, CPA/ CPA candidate preferred. Tax Experience and Ultra Tax Experience a plus. Tons of growth potential in this area of our firm, looking for a self-starter who is ready to jump in. http://qmmcpas.com CPA/ EXPERIENCED ACCOUNTANT (Tucson 85712) — Quick, Mitchell & Maish, PLLC - The position offers a competitive and rewarding compensation plan as well as a professional work environment. This is a full time position, working toward a paperless preparation firm, which provides constant work flow throughout the business year. Preparation and Review of attestation and non attestation financial statements for all types of business entities including individuals, partnerships and corporations. Other general accounting services as needed. Income tax preparation as needed. Requirements: College Degree in Accounting Required; CPA or Master of Accounting Degree a huge plus; Minimum of 5 years of accounting related experience; Thomson Reuters Accounting software experience is preferred. http://qmmcpas.com.
books, Excel spreadsheets, analysis, and auditing. I am specifically seeking a part-time position where I could offer flexible hours and market rates. I have assisted a vast diversity of industries in Arizona including technology, food service, personal care, and jewelry sales as well as various start-up and entrepreneurial adventures. References available upon request. Call 602-818-7322 or email brcohen@cox.net. TAX PROFESSIONAL — AA TAX CPA, LLC — Tempe CPA firm seeks personable tax accountant, with minimum three years business and personal income tax preparation experience. Full-time tax season, part-time otherwise. ProSeries and QuickBooks proficiency preferred. Please email resume to admin@thetaxlady.biz. Tax Preparer/Accountant — Schutte & Hilgendorf, PLLC — Tax preparer/accountant for individual and small business returns/accounting for CPA firm. Requirements include: 3 or more years’ experience in tax preparation, full-charge bookkeeping; from data entry to compiled and reviewed financial statements, payroll and sales tax calculations and reporting for yearround clients; Proficiency in QuickBooks and Excel is required http://www. prescottaccountants.com.
Office Space PROFESSIONAL SUITE — 16TH STREET CORRIDOR — 2,700 SF of recently renovated suite space. Two large offices, bullpen, conference room, large utility room, server room, storage, reception, and use of bathrooms and break room. Access to Cox or T1. Possibility of shared resources/services with other CPA’s in building. May have furniture available, including cubicles. Jason (602) 850-5110 or Jason@azcre.biz DOWNTOWN PHOENIX CPA ANNEX-DESIGNED BY A CPA FOR A CPA—9 were available, ONLY 3 left. Free Rent and Free Parking. Office Space $500 per month. Ideal for sole proprietor. Walk to Ball Park, Basketball Arena and great restaurants. Dynamic environment. Collaborate. Share resources. Class A Office. Call Lance at (602) 741-7876. www.office4cpa.com. OFFICE SPACE AVAILABLE — Executive Suite type office space available for solo practitioner. We are located in Central Phoenix around 7th Street and Bethany Home area. Parking, receptionist, telephone service, copiers, scanners, break room, conference room, computers, software, etc. available for short term or long term use. Contact robert@ azmoneyguy.com for more details.
For more information on advertising, go to marketplace at www.ascpa.com
CPA/MBA LOOKING FOR PARTTIME WORK — I would like to introduce myself and acquaint you with my training and experience. I hold an MBA in finance from the University of Chicago, in addition to my CPA certification. My background has given me advanced skills in multiple areas including Quick
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Arizona Society of Certified Public Accountants 4801 E. Washington St., Suite 225-B Phoenix, AZ 85034
PRSRT STD U.S. Postage PAID Phoenix, Arizona Permit No. 952 ADDRESS SERVICE REQUESTED
Health Care Reform—You have questions, we have answers! Along with guaranteed acceptance for health insurance under the Affordable Care Act, there are multiple ways to purchase coverage. For those who qualify for a tax subsidy because they earn less than 400% of the Federal Poverty Line, the “Marketplace” is the mandatory enrollment vehicle. But how does someone know which plan to buy? How can they know if they qualify for a subsidy? How much will it be? Are there any other benefits to qualifying for the subsidy? Which insurance company is the right choice? How do they access the Marketplace (previously known as the Exchange)? The Argus Group is committed to the insurance business, and we have answers to all of these questions and more. If you and/or your clients are looking for guidance in this new world of health insurance, we would love to be the company that helps you navigate the storm. Please feel free to give us a call at (602) 863-0080. We are here to help.
The Argus Group 602 863-0080, ext. 105 or ext. 106
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