July/August 2010 Florida CPA Today | Volume 26, Number 4 by Florida Institute of CPAs

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contents Volume 26, Number 4

EXECUTIVE EDITOR AND CEO-EXECUTIVE DIRECTOR Kathryn B. Anderson, CAE

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DEPUTY EXECUTIVE DIRECTOR Brent C. Johnson SR. DIRECTOR OF MARKETING & COMMUNICATIONS Jan Dobson, CAE EDITOR Suellen D. Wilkins GRAPHIC DESIGNER Loleta K. Bolden PUBLICATIONS COORDINATOR Dianne Dearduff EDITORIAL COMMITTEE William C. Quilliam, CPA, Ph.D., Chair Douglas Day, CPA, Vice Chair Walter C. Copeland, CPA • Lynda M. Dennis, CPA Cynthia Fernald, CPA • David Hochsprung, CPA Michael Kridel, CPA • Troy Y. Manning, CPA William J. Odendahl Jr., CPA All articles submitted to Florida CPA Today are subject to technical review, Editorial Committee review, space availability and editing requirements and restrictions. Please contact the editor before submitting unsolicited manuscripts. Florida CPA Today publishes letters to the editor in its Members’ Forum. For information about the guidelines, visit http://www.ficpa.org//ficpa/Members/FCT/Forum. Statements expressed herein are those of the identified authors and not necessarily those of the Florida Institute of Certified Public Accountants, Inc., nor should statements be considered endorsements of products, procedures or otherwise. The FICPA reserves the right to reject any editorial material or paid advertising that does not meet Florida CPA Today’s qualifications or detracts from its ethical and professional standards. Florida CPA Today is published bimonthly by the Florida Institute of Certified Public Accountants, Inc., P.O. Box 5437, Tallahassee, FL 32314. Telephone: (850) 224-2727 or (800) 342-3197. (Street address: 325 West College Ave., Tallahassee, FL 32301.) Visit our website at www.ficpa.org. This magazine is provided to members of the FICPA. No specific amount of your dues, either expressed or implied, is for this publication. This magazine is not available for purchase by either FICPA members or nonmembers. For display advertising information, contact the FICPA Marketing Department at (850) 224-2727. © 2010 by the Florida Institute of Certified Public Accountants, Inc. All rights reserved. Reproduction in whole or part is prohibited without the express written consent of the FICPA.

DeParTMenTs 5 18 21 26

educational foundation

28 30 33 35 38

Dor update

Governmental affairs ficPa newsflash Digest Web Digest Young cPas Develop Their careers, Mentor future colleagues student outreach on the Move new Members Marketplace

July/August 2010

cover sTorY 6 ficPa President Mike

Pender a lifetime of service... and roads less Traveled

feaTures 10 use social networking to Your Professional advantage

12 executive committee

Highlights florida cPa/Pac, ownership in institute

16 Back to Basics

financial Planning starts With saving More, spending less

22 accounting Development

Program Designed to expand Diversity of Talent Pipeline

24 earn a seat on the Board of Directors a How-to Guide

33 clements, cook Win Writing excellence award

Mission Statement Florida CPA Today is an award-winning, professional publication for more than 18,500 members of the Florida Institute of CPAs. Our magazine: Allows members to share their professional expertise on technical issues Keeps members informed about FICPA events and advocacy Highlights the people and issues that affect Florida CPAs Recognizes the professional accomplishments of our members

Cover photo by Gary Sweetman www.ficpa.org

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FLORIDA CPA TODAY

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ADVERTISERS’ INDEX: Accounting Practice Sales............................. 31 AICPA Accounting Doctoral Scholars Program.......................................... 30 AON Insurance Services..........................15, 32 Audimation...................................................... 4 Bank Atlantic................................................... 2 Connect Wise................................................. 28 CPS Investment Advisors (CPAlliance™)..... 36 LTC Global..................................................... 14 Maxx Merchants............................................. 23 McDonald, Fleming, Moorehead Law Firm.... 19 Naples Beach Hotel & Golf Club.................. 26 Pankauski Law Firm..................................... 34 Penservco....................................................... 37 Professional Accounting Sales....................... 38 Trugman Valuation Associates, Inc................... 4

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| July/August 2010

www.ficpa.org

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Educational Foundation

Pay It Forward Hire an Accounting Student, Support Our Foundation

I began hiring Florida Atlantic University students on a part-time basis 13 years ago. My philosophy has been to teach them everything I do: from simple bank reconciliations to client meetings about personal matters. As a member of the FICPA, I encouraged my “staff” to apply for scholarships from the FICPA Educational Foundation (EDF). As time went on, I became a Foundation trustee and continued to suggest that the students apply for EDF scholarships. During the past 13 years, three of my student-employees have been awarded five scholarships. I don’t want to brag, but those students now are practicing CPAs at various firms. One is a senior manager at an international firm; one is a senior manager at a national firm; and the third is a senior at a local firm. One of my student-employees once asked me why I continually hire students. She thought it was great for them, but wanted to know what I got out of it. The answer is simple: We, as CPAs, owe it to our profession to train our future leaders. Also, when I went to college, the company I worked for taught me accounting and paid half of my tuition. My way of paying it forward was to hire students. Just think what it would have been like if we’d had part-time jobs working for CPAs. Students have the potential to bring us information that may help us in our practices. It’s possible that a student could teach us something! One of my students once needed to do a project, so we sat down and determined what project she could do for which client. What a deal! The student got her project www.ficpa.org

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Herschbein

By Ira M. Herschbein, CPA, PA

done; the client received a management report she didn’t expect and wasn’t charged for; and I made my client very happy. We all won. During the years, each of my studentemployees eventually has come to me and said, “I get it!” One student who went to work at another firm later told me what she’d learned from me. I reminded her that as long as she worked for me she was still a student, and that she’d always be learning something new. I try not to push the students, but over time their work load gets more complicated and they never realize they’re learning. Then they take what they’ve learned and move on. As much as I’d love to keep them forever, they have to make their own way. Whenever I speak to them I always ask, “Are you coming home?” And they always answer, “Not yet.”

I’ve been lucky. The first student I hired introduced me to a professor who helps me find students to replace the ones who leave. The bad news is he’ll be retiring soon. I’d like to make some recommendations to my fellow CPAs: Hire a student on a part-time basis, and teach him or her what you do. Encourage the student to apply for a scholarship. And finally, make a donation to the EDF so we can continue to grow our profession. To former scholarship recipients: Please remember that, because of these donations, you were lucky enough to receive one. Ira M. Herschbein, CPA, PA is an individual practitioner in Boca Raton. He has been a member of the FICPA Educational Foundation Board of Trustees since 2001. To make a contribution, visit www.ficpa.org/ficpa/ EdFoundation/WaystoGive

“I encourage all FICPA members to become EDF Life Members. If each of our 19,000 members pledged $100 per year – less than $10 a month – for five years, we could raise $9.5 million!”

FLORIDA CPA TODAY

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FICPA President Mike Pender A Lifetime of Service... and Roads Less Traveled

On July 1, Michael R. Pender became the new president of the Florida Institute of CPAs, and one of only 83 people to serve as the Institute’s president since it was established in 1905. It’s a huge undertaking, but one that’s well suited for a person like Pender, who loves a challenge – especially if it involves humanitarianism. “Giving back to the community, state, nation and profession is part of my soul,” he said. “From the time I was young, my parents set the example of community and professional involvement. I knew no other way of life.”

By Suellen Wilkins, FICPA Editor

caring and loving family relationships, and satisfaction in one’s accomplishments. In 2003, Pender received the FICPA’s Outstanding CPA in Public Service Award. “Becoming president of the FICPA is a tremendous honor,” Pender said. “I have always tried to be a good listener and build consensus. I feel a good president should lead by example, hopefully encouraging the best leadership skills in others to create a cohesive team that will work toward common goals.” Pender, a native New Yorker, was born in Queens and grew up on Long Island.

“My favorite thing about the accounting profession is problem solving. I thrive on the next ‘opportunity,’ whether it’s for my clients or the members I represent.”

Pender joined Rotary International, an organization of business and professional leaders who provide humanitarian aid worldwide, when he was 24 years old. He credits the organization for having taught him life’s road to service. “There are two great Rotary mottos that I’ve tried to pattern my life after: ‘He profits most who serves best,’ and ‘Service above self.’ I believe the word ‘profits’ has more than a monetary meaning. It can mean 6

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He was 18 when he arrived in Florida to study at the University of Tampa and has lived in Florida ever since. He earned a bachelor’s degree in business administration and economics in 1973 from the University of Tampa and returned there to get the required hours to sit for the CPA exam in 1974 and 1975. “I’d always done well in my accounting courses and wanted a professional career,” Pender said. His father, Michael R. Pender

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Sr., who is now retired, was a professional civil engineer. His mother, Francine, studied art. “My father and mother, each with different talents, have been tremendous role models for our family. Their involvement in the community, and in their respective professions, set an example for all of us to follow. Pender Sr. began his career working for an engineering firm. He then became an engineer and vice president in charge of all U.S. state exhibits at the 1964-65 New York World’s Fair. When the Fair closed, he served as the commissioner of public works for Hempstead, N.Y. and of Nassau County, N.Y. He ended his career as the commissioner of public works for Valley Stream, N.Y. Pender Sr. is a past president of the New York State Society of Professional Engineers; the American Public Works Association; the Practicing Institute of Engineering; the New York State Association of Traffic Safety Boards; and the Institute for Municipal Engineering. He also held many other leadership positions during his career. Pender met his wife, Marie, kayaking in Bradenton in 2001. They became engaged a year later, during a trip they took down the Amazon River in Peru. “She didn’t have a kayak so a mutual friend suggested that she call me as I had a double kayak,” Pender said. “We kayaked together three times and then I asked her out on a date. She always sat in the front of the kayak, and I told her I’d like to take her out so I could see her face!” Marie, who is from Detroit, Mich., is active in the Bradenton community and serves as vice president for membership >>> www.ficpa.org

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photo by Gary Sweetman

Mike and his wife, Marie, were married in 2003.

and development services for the Manatee Chamber of Commerce. She and Pender celebrated their seventh anniversary on June 22. “It’s been a challenge because, as involved as I am involved in Sarasota, Marie is equally involved in Bradenton. We often look at each other and wonder where we’re supposed to be,” Pender said. When Pender and his wife married, he inherited two grown daughters and three granddaughters. One of his daughters, Donna Deitrich, lives in Campbell, Ca. The other, Lauri Mendoza, lives in Lakewood Ranch, Fla. with her husband, Jose, and their three daughters – Jennifer, Alina and Molly. In December 2009, Jennifer presented the Penders with a great grandson, Logan Bentley Peterson. In 1992, Pender was accepted to Class XI of Leadership Florida and subsequently became very involved with the organization. He served as Leadership Florida’s finance chairman for 10 years and still remains very active with the group. www.ficpa.org

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“It changed my life,” he said. “I went from having Sarasota as my community to having the entire state of Florida as my community.” Pender and his wife spend their free time reading, antiquing, visiting with family and friends and traveling. Pender went to India with one of the top five rainforest scientists in the world. For their honeymoon, the Penders hiked and canoed across the West Coast of Scotland. Two years ago, they spent 10 days visiting friends and clients in Germany. And a year ago, they challenged a white-water river in Costa Rica. During the summer of 2009 the couple took a month-long trip to South Africa, Botswana and Zambia. It was the first time in 35 years that Pender had been away from his office for more than two weeks. “I’d say that Africa was our most enjoyable vacation,” Pender said. “After a 17-hour flight, we arrived in Johannesburg. There were six travelers plus our escort. We

flew to Zambia to see Victoria Falls and got our first glimpses of African wildlife. “Two days later, we took a small plane to the Okavango Delta, a wild bush area of Botswana. We stayed in three camps – each had different characteristics and different wildlife. Seeing the animals in their natural habitat was breathtaking. They had no concern for us as long as we stayed in the profile of the jeeps. “We left Botswana and flew to our final camp, Singita (the Ebony Lodge), a private reserve in eastern South Africa. Singita is ranked one of the top safari camps in the world. It was spectacular – the perfect place for the final safari of our trip. In one day we came across all of the ‘big five’ (elephant, leopard, rhino, cape buffalo and lion) and ended the day with a shooting star crossing the sky. It truly was a life-changing experience.” When they’re not traveling, the Penders enjoy their home and coastal lifestyle in Bradenton. They share their space with a nine-year-old parakeet, Angel, who they inherited when Marie’s mother passed away. Angel had been a constant companion to Marie’s mother, who got him when he flew into her home and life. “I have to duck when he’s loose. He does ‘fly bys’ and wants you to pay attention to him,” Pender said. The Penders’ favorite restaurant in Sarasota is the Bijou Café. During Pender’s teenage years he worked for a church camp, cooking daily for 200 hungry kids. From that experience, he says, he developed a habit of cooking for the masses. “So I don’t cook, because my wife doesn’t like the month’s worth of leftovers,” he joked. “But Marie is a fantastic cook, so we do enjoy home-cooked meals.” When asked how he finds time to do it all – juggling the responsibilities of family, a career and FICPA leadership – Pender is true to his Rotary Club roots. “I try to live by the Rotary’s four-way test for the things its members think, say and do: First, is it the truth? Second, is it fair to all concerned? Third, will it build goodwill and better friendships? And fourth, will it be beneficial to all concerned? “If we apply this to all aspects of life, we’ll have great satisfaction with the decisions we make,” Pender said.

Pender to Promote Mandatory Peer Review, Members in Industry FICPA President Mike Pender is set to tackle several tough issues during the coming year. Here’s a glimpse at the forces that inspire him and the items on his agenda. >>> Page 8

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Q. What’s your favorite thing about the

(CONTINUED FROM PAGE 7)

Q. Why did you want to serve as president of

the FICPA, and what professional or personal sacrifices did you have to make to achieve your goal?

A. I hope serving as FICPA president will allow me the privilege of using my years of experience, in the profession I enjoy, to address the challenges and future direction of the organization and its members. Any sacrifices I’ve made would be familiar to most involved people – long hours, and balancing home and work with my volunteer responsibilities. Q. What have you enjoyed most about being in FICPA leadership? What would you say is the most difficult thing about serving in a leadership position?

A. I believe my favorite thing about the accounting profession is problem solving. I thrive on the next “opportunity,” whether it’s for my clients or the members I represent. I’m not sure that there’s anything I don’t like about being a CPA. There are avenues and opportunities for everyone to find some type of work that is satisfying. Q. What would you say are the most

important challenges the FICPA faces? During your year as president, how will you help the Institute solve those problems?

A. There are always new issues emerging in our profession. We must be sure that we’re advocating proactively on the members’ behalf, and that we’re providing the highestquality services. One issue that we’ve faced for some time is mandatory peer review. The AICPA already has addressed this by requiring that all members who provide compilations, reviews and audits be subject to mandatory peer review. Forty-eight other states have adopted some form of this requirement.

photo by Gary Sweetman

A. My greatest enjoyment is the people with whom I’ve developed relationships. Difficulties arise when, as accountants, we sometimes get lost in the details. Our Board of Governors needs to have long-term vision – the ability to step back and take a clear look at what we’re trying to achieve for our members.

accounting profession? Is there anything you don’t like about being a CPA?

Mike has a close relationship with his parents, Francine and Michael Pender Sr., who were wonderful role models for him. 8

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Florida and Delaware are the only states without some type of mandatory peer review. Because Florida, unfortunately, has been impacted by some of the greatest Ponzi schemes during the last few years, it makes no sense that we wouldn’t adopt mandatory peer review to maintain the public’s trust. This trust is one of a CPA’s most precious assets and never should be taken for granted. This issue is high on my priority list for this year. Other emerging issues include IFRS; private company GAAP, to be issued in December 2010; and national registration of tax preparers, to name a few. All are constantly on our agenda. I’ve crafted a program that I hope will educate and engage CPAs in industry, and that will increase the value of FICPA membership for them. I plan to interview CPAs who are leaders in industry and who’ve benefited greatly from belonging to their respective state societies. We’ll publish the interviews in Florida CPA Today.

In an article about you in the July 2006 issue of Florida Trend, you were referred to as the “Pro Bono Pro.” How long have you been doing pro bono work, and what kind of work have you done? Do you have a favorite project that you’ve worked on, or is there one that was particularly fulfilling or rewarding?

A. I think one of my greatest joys and satisfactions in life is helping others. With pro bono services, I’ve helped develop more than 70 501(c)(3) organizations during the last 35 years. The word “no” hasn’t been in my vocabulary – every new adventure in service leads to interesting results and fills unmet needs in our community, state and country. Probably one of my greatest accomplishments has been working with Dr. Kay Glasser to create the fiscal foundation of one of her dreams – The Glasser-Schoenbaum Human Services Center. This campus in Sarasota houses seventeen 501 (c)(3) organizations in about 42,000 square feet for a monthly cost that’s well below the market rate. Most of the money covers utilities, but I also included a reserve for capital replacements. It has grown to more than $750,000 and has contributed significantly to the center’s success. As a result of the Foundation’s support of these agencies, we estimate that more than $9 million has gone back into greatly needed health and human services the agencies provide. >>> www.ficpa.org

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Another foundation I helped create, and of which I have served as treasurer during the last 10 years, is the Tree Foundation Inc. This was the dream of Dr. Meg Lowman, one of the top rainforest canopy scientists in the world. Through the Foundation, we built a canopy walkway at Myakka State Park to help teach future generations about the life that thrives in the treetops, and the importance of maintaining our forests as part of the balance of life.

Q. The FICPA Educational Foundation

recently reported that it is more than halfway to its goal of raising $1 million, to be matched by the Coulter Foundation. Please tell us about your extensive work with the Ed Foundation and why scholarships are crucial to the profession.

Q. What would you say are the biggest

benefits of FICPA membership to all CPAs, and specifically to those who work in industry?

A. I think the greatest benefit of FICPA membership is being connected to an organization whose leadership and staff are working constantly on their behalf to ensure we can perform our jobs in an environment that is equal to all other CPAs. The FICPA continually informs members about emerging issues and ensures us that the Institute is advocating on our behalf. We have the highest level of relevant, quality continuing education available, and the Institute provides resources to help with problems we face in our professional lives. Q. Tell us about your accounting firm and

what being a business owner has taught you.

A. In December 2009, I lost a great mentor in my life and profession. Gerald J. Cavanaugh, CPA was 90 years old and, until a fall two years ago, was the active managing partner of my firm. He was the consummate professional who encouraged me to take all opportunities that came my www.ficpa.org

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photo by Gary Sweetman

A. During the past year I’ve chaired the committee to raise the $1 million match challenge by the Wallace H. Coulter Foundation. It has been difficult in these economic times, but we have collected $695,000 including cash and pledges. We have until Dec. 31 to finish the challenge. I have a great team working with me and I’m confident that we will reach that goal. Scholarships are the portal to our profession. Unfortunately, tuition can be the obstacle that prevents some of our brightest students from having their dreams fulfilled. We hope our members and peers will support this effort and help us achieve our goal.

Mike and one of his partners, Steve Spangler, have been in business together since 1980.

way and lead by example. He ran the firm as if it was family and always was concerned about our employees’ work-life balance. He also treated our clients as family and even coined a phrase in our brochure that reads, “Clients are Family to us.” Now that Gerald is gone, we are maintaining the core values he represented and continuing his legacy of service to our community.

Q. If you had to do your entire career over again, would you do anything differently?

A. If I had to do it over again, I don’t think I would change a thing. I’ve enjoyed the journey during the last 35 years and look forward to many more years to come. Ms. Wilkins is the editor of Florida CPA Today. She can be reached at (850) 2242727, Ext. 383, or wilkinss@ficpa.org.

FLORIDA CPA TODAY

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Use Social Networking to Your Professional Advantage

Wikipedia1 defines a social network as a social structure made of individuals or organizations that are connected by one or more specific types of interdependency, such as friendship, financial exchange, relationships, beliefs, knowledge or prestige. Based on this definition, social networking options are endless. Thanks to the new wave of technology, social networking has changed drastically during the past several years. Contact by computer or cell phone has replaced much of the traditional face-to-face networking. We now can reach any number of people with a single click – anytime, almost anyplace. Networking websites are a great way to exchange information and ideas, foster friendships and business relationships, and meet potential clients. Since September 2006, Facebook has been available to anyone older than 13 with a valid e-mail address.2 The website currently has more than 400 million active users worldwide.3 Many people post their resumes on LinkedIn and other professional-networking websites. Others leverage social media to establish professional credibility and expertise. The

By Kristine L. Elkind, CPA, CFF, CFFA LinkedIn network represents 150 industries in more than 200 countries throughout the world.4 These and other websites are the primary way many people network, socially and professionally. Social media can help you grow your business by engaging current and prospective customers and clients. Its use today goes well beyond sharing what you ate for breakfast. Other technologies, including e-mail, texting, blogs and listservs, also have contributed significantly to the change in social networking. Almost anyone can host listservs and blogs, which provide quick, automated updates on topics of interest and foster discussion. Consider creating listservs for clients who may be interested in receiving updates about their industry, or about your firm’s services and activities. The key, challenge and reward to social media return on investment (ROI) is engaging others. If you choose to

participate in one or more new channels, participate often and be real. For example, to keep followers coming back for more, post at least two to three entries weekly (daily is better). Accepting and responding to comments on your blog can amp up engagement. On Twitter, multiple “tweets” per day are necessary – and don’t forget to follow and retweet others. It’s as important to be a reciprocal community member as it is to generate original content.

Don’t Forget Real Face Time E-mail, texts and website postings can be time consuming and impersonal. Although technology is a driving force in social networking, traditional forms of communication are still key. Pay a client a personal visit, or invite a friend to share a meal. Consider following up with a card or handwritten note – yes, the U.S. Postal Service still exists! >>>

Follow the FICPA on Facebook, Twitter and LinkedIn! Wikipedia, March 31, 2010; http:// en.wikipedia.org/wiki/Social_network. 2 Wikipedia, March 31, 2010; http:// en.wikipedia.org/wiki/Facebook. 3 Ibid. 4 LinkedIn, March 31, 2010; http://press. linkedin.com/about 1

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To access the FICPA’s listserves, visit our website at www.ficpa.org/ficpa/Members/Communities/Listservs.

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www.ficpa.org

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After-hours functions, conferences and industry association meetings can be a great way to exchange contact information and give or get referrals. Events also provide an opportunity to combine technology and in-person connections. Tweet on site – share what you learn, see and do at professional events. Doing so adds to your credibility. Civic organizations or business groups, such as local Rotary Clubs or Chambers of Commerce, provide opportunities to connect with professionals in various industries and businesses. After meeting someone face to face, follow up with an e-mail. During a face-to-face meeting, tell someone about a listserv or blog that may interest them. Don’t overlook volunteerism. In addition to making long-lasting contacts, volunteering in your professional or local community can facilitate improvements in living environments, work-places and/or professional fields of interest. Share your knowledge and expertise by serving on a not-for-profit board, or in another capacity for a group to which you belong (see the related article on page 24). Consider volunteering for speaking engagements, which allow you to promote your skills as well as the expertise of your company or firm. If your goal is to gain clients in a certain industry, approach a related trade or professional association and volunteer to speak at an upcoming meeting or conference. A tax accountant seeking new clients, for example, might offer a pro bono tax-law update to a service organization with diverse membership. Whatever the venue, invite your audience to tweet about your session and topic. Follow up by posting thank-you messages on Facebook, your blog and/or Twitter. The key to successful social networking is balancing the old with the new. By combining traditional communication with advances in technology, you can maximize your social networking potential and your ROI. Kristine L. Elkind, CPA, CFF, CFFA is a manager at Matson Driscoll & Damico in Lake Mary. She is a member of the FICPA’s Young CPAs Committee.

Enhance Your Professional Development With Social Media Social media continues to grow as a way to stay connected with peers and the CPA profession. If you’re on Facebook, LinkedIn or Twitter, you can: • Find out more about FICPA Conferences • Tweet what you learn or know about a topic • Connect with other attendees and speakers • “Eavesdrop” on conference content when you can’t attend Each FICPA conference has its own “hashtag,” a unique Twitter identifier that allows you to follow all related posts, even if you don’t follow all the individuals contributing to the conversation. Find conference hashtags in CPE brochures, or visit the FICPA’s website at www.ficpa.org/ficpa/CPE/ Seminars/Conferences to view them all. www.ficpa.org

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FLORIDA CPA TODAY

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Executive Committee Highlights Florida CPA/ PAC, Ownership in Institute Marshall D. Gunn Jr.

The FICPA’s seven-member Executive Committee (EC) is comprised of the FICPA president, Michael R. Pender, and six vice presidents. Kathy Anderson, CAE, FICPA CEO-executive director, serves as secretarytreasurer and non-voting EC member. Together, the committee implements the Board of Governors’ policies and oversees the Institute’s activities. Each year, Florida CPA Today profiles the committee’s vice presidents and asks them to share their thoughts on making a difference through the FICPA.

Marshall D. Gunn Jr.

Sharon S. Lassar

Scott G. Price 12

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Marshall D. Gunn Jr. is president of Gunn & Company, PA, Certified Public Accountants. Gunn is a former chairman of the Florida Board of Accountancy. He is chairman of the FICPA Investment Policy Committee and a past-chairman of the Institute’s Personal Financial Planning Committee. He serves on numerous notfor-profit or charitable foundation boards, including FreshMinistries Inc. and Give Kids the World Village. On the national level, Gunn is a frequent guest speaker for various CPA societies and professional associations. He has spoken at the AICPA Personal Financial Planning National Technical Conference and at the AICPA Investment Planning Conference. He also has served as an instructor for the AICPA’s Personal Financial Planning Certificate of Educational Achievement Program. Mr. Gunn frequently is called upon as an expert witness in areas of testimony including business valuation, investment suitability, investment value and various business issues. He and his wife, Kathy, live in Jacksonville. Why is the Florida CPA/PAC important to each member? Serving on the Board of Accountancy during the last eight years gave me the opportunity to learn how critical it is to have a good working relationship with members of our state government. As active members of our profession, we are keenly aware of our needs for governance and | July/August 2010

regulation. Our elected officials are from all walks of life. The CPA/PAC allows us to have a stronger voice – to attract the attention of those seeking election and have them hear our needs and concerns. Without it, we are simply more noise cluttering up the legislative process. The theme for the coming year is, “It’s Your FICPA – Own It!” What does this mean to you? So many times when we look at an organization, we see the organization as a body when in reality it is the sum of its parts. As members of the FICPA, it is our personal responsibility to make it an organization that serves our needs by serving each other’s needs. I am always amazed at the responsiveness and helpfulness of the various listserves. This truly is a reflection of the character of our members – to serve our profession and help their fellow FICPA members. One person can make a difference and each of us should take ownership of our Institute to make it the best!

Sharon S. Lassar Sharon S. Lassar, who is serving her second term on the Executive Committee, is an associate professor and director of the Center for Accounting, Auditing and Tax Studies at Florida International University (FIU). An FICPA member since 1999, she has served as chair of the Financial Literacy Committee and the Accounting Shows & FABexpo Committee. In addition to her service on the FICPA Board of Governors, Lassar serves on the Corporate Advisory Board for the Association of Latino Professionals in Finance and Accounting; the Audit Advisory Committee for the City of Miami; and the AICPA Minority Initiatives Committee. In 2005, the American Woman’s Society of CPAs named her Educator of the Year. Former Treasury Secretary Paul O’Neil appointed Lassar minority issues chair of the >>> www.ficpa.org

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Taxpayer Advocacy Panel, and she has served as site coordinator for the Volunteer Income Tax Assistance Program. She is a frequent presenter of CPE and has been voted Best Professor by executive master’s of taxation students at FIU. Why is the Florida CPA/PAC important to each member? The Florida CPA/PAC is important for each member because it allows the FICPA governmental affairs team to advocate for Florida CPAs. Our team works to protect our interests, advance opportunities for the profession and ensure that legislation that impacts the profession is well reasoned. The theme for the coming year is, “It’s Your FICPA – Own It!” What does this mean to you? The theme “It’s Your FICPA – Own It” is fitting because the FICPA has something for everyone. Regardless of your area of expertise, or the stage of your career, the FICPA offers its members value that grows with involvement.

Scott G. Price

contribute to the PAC. It would be great to see increased participation in the PAC, to ensure that it has the necessary resources to advocate on behalf of all Florida CPAs. The theme for the coming year is, “It’s Your FICPA – Own It!” What does this mean to you? The FICPA exists to serve its members, and all members own a part of it. The Institute offers members numerous ways to become involved and “own” its direction. It’s up to each member to take an active role in shaping and owning the FICPA, to ensure its success and future growth.

Stam W. Stathis

Scott G. Price is a director with A-lign CPAs, a national provider of regulatory and compliance services. Price, who joined the FICPA in 1998, is serving his sixth term on the Board of Governors and his fourth term on the Executive Committee. He has held chair and vice chair positions on several committees and has served on a number of Sections and task forces. He also is a member of the AICPA Council. Price was a member of the inaugural class of the Tampa Bay Business Journal’s Top 30 business leaders under age 30; the Tampa Bay Business Journal’s Top 40 business leaders under age 40; and the CPA Technology Advisor’s 40 under age 40 influential CPAs in information technology. He has served several terms on the Hillsborough County and West Central Florida board for Junior Achievement. He lives in Odessa with his wife, Tina, and their two children, Brooks and Adriana.

Why is the Florida CPA/PAC important to each member? The Florida CPA/PAC supports the FICPA’s single most important activity, which is to lobby to protect the CPA and the CPA brand name. In my 13 years of serving on the Board of Governors, I truly have learned the power of money in Tallahassee. Our combined FICPA PACs currently give more than $200,000 to statewide candidates during each twoyear election cycle. These funds allow our governmental staff something few professions enjoy – the opportunity to explain to the members of the Florida House, Senate and Executive Branch the legislative policies the FICPA Board of Governors has established. But the sad fact is that very few FICPA members support our PACs. Imagine how much more the FICPA could do if only half our membership gave just $50.

Why is the Florida CPA/PAC important to each member? The PAC is one of the vehicles the FICPA uses to advocate on behalf of its members and protect our CPA licenses. Without a strong PAC, the FICPA would be unable to convince legislators to listen to our issues and examine our suggested resolutions. The work of the FICPA governmental affairs team and the PAC trustees often goes unnoticed until an issue comes to our members’ attention. All CPAs in Florida benefit from the FICPA members who

The theme for the coming year is, “It’s Your FICPA – Own It!” What does this mean to you? “It’s Your FICPA – Own It.” This simple statement means many things to me. It means it’s my job to get something out of my membership. It means educating myself about the activities that are the FICPA. It means listening to the membership’s concerns about the profession. It means being there when called upon to serve the FICPA. It means attending Chapter meetings. It >>> Page 14

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Stam W. Stathis

Stam W. Stathis, FICPA president-elect, is the management and consulting services partner of CPA Associates in Bradenton. He is a member of the AICPA Council and has served on several FICPA committees and Sections. He is a member of the Board of Governors, the Finance & Office Advisory Committee, the Membership Committee and the State Legislative Policy Committee. He also is a Florida CPA/PAC trustee.

Kenneth J. “Ken” Strauss

James F. “Jim” Thielen

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means CPE. However, the most important thing is being part of something bigger than myself. I am truly blessed to have been part of my professional society. I really do feel that I “Own It.” I hope each and every member can feel the same.

Kenneth J. “Ken” Strauss Kenneth J. “Ken” Strauss is director of taxation and personal financial strategies for Berkowitz Dick Pollack & Brant CPAs & Consultants, LLP in Fort Lauderdale. He is a member of the AICPA and of the FICPA Board of Governors, and a former president of the Financial Planning Association. Strauss is past chair of the FICPA’s Financial Literacy Committee and serves on the FICPA Educational Foundation’s Board of Trustees. He also serves on a number of committees, including Finance & Office Advisory and Relations with the Florida Bar. Why is the Florida CPA/PAC important to each member? The Florida CPA/PAC is a critical component of CPAs’ influence in Florida politics. I think many CPAs take for

granted that our politicians respect and will listen to us just because we represent high integrity and honesty. However, that is not the case! Money talks in the world of politics. The theme for the coming year is, “It’s Your FICPA – Own It!” What does this mean to you? The FICPA has been a resource for education, promoting the CPA brand and serving the public. We, as members, always must recognize the importance of embracing new ideas and letting the public know what we do and why we are so committed to integrity and independence. As the world so quickly changes, each member needs to commit to informing other members about the ways we can tackle the tough issues we are confronting. Whether it’s financial regulation or a tax on professional services we, as members, need to take action.

James F. “Jim” Thielen James F. “Jim” Thielen is an individual practitioner and owner of a small CPA firm in Tallahassee. He has extensive

accounting, auditing and tax experience, including corporate and partnership taxation, real estate transactions, general business and personal tax planning and litigation support. Thielen is or has been a member of various local and national audit and finance committees and is a frequent guest speaker for banking, insurance and other financial entities and groups. In 2003 Gov. Jeb Bush appointed Thielen to the Florida Board of Accountancy, on which he served until his term expired in 2007. Before forming his own firm in 2002, Thielen was an equity owner of a top 50 CPA firm in the United States. He has served on several FICPA committees and currently is a member of the FICPA Board of Governors and the FICPA Committee on Finance & Office Advisory. He also is a Florida CPA/PAC trustee and a past president of the FICPA’s Tallahassee Chapter. Thielen and his wife, Beth, live in Tallahassee with their son, James Jr. Why is the Florida CPA/PAC important to each member? The ever-changing political environment in which we live requires our membership’s financial support of the Florida CPA/PAC. The PAC plays a critical role in the way we manage the numerous changes of the guard at the Capitol because of the passage of term limits. It is a simple proposition: If you want a say in how legislation affects your working environment and your industry, you must support the Florida CPA/PAC. The theme for the coming year is, “It’s Your FICPA – Own It!” What does this mean to you? The FICPA is one of the finest professional associations in our state. We are highly respected by other industry associations. Our staff members are involved, educated and well rounded, and have years of industry knowledge. The FICPA has provided a network of Chapter operations to facilitate member involvement and education. Through committee involvement and Sections, members may interact to further their professional development and that of their fellow CPAs. Through our very progressive and interactive website, CPAs throughout the state enjoy instant access to various resources and support. It’s all there for the taking, should you choose to be involved. As a professional, I feel it is our responsibility to be involved in, grow with and learn from our profession. It’s Your FICPA – Own It!

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Back to Basics

Financial Planning Starts With Saving More, Spending Less

By John L. Rencher Jr., CPA

Have you ever heard the old saying, “butchers prefer bread for dinner, while bakers prefer meat?” It’s a reminder that our professions often drive us to avoid or ignore work-related functions in our personal lives. CPAs aren’t immune to this pattern. The last thing a CPA wants to do after a long day at work is spend personal time budgeting; tracking finances and investments; and planning for the future. For young CPAs, social activities, family concerns and networking make this even more difficult. Successful financial planning is relatively easy and requires a minimal amount of time. The key is to develop disciplined habits and sound-but simple-strategies.

Participate in a Retirement Plan If your employer offers a retirement plan, elect to participate at the first available opportunity. In general, these plans enable employees to save for retirement using tax-deferred contributions. Most plans also contain an employer-matching or profit-sharing component that is 16

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excludable from income. So, neither the employee nor the employer contributions are subject to income tax until the funds are withdrawn from the plan. The most common retirement plans are 401(k) plans, Simplified Employee Pension (SEP) plans and Savings Incentive Match Plans for Employees (SIMPLE) Plans. Retirement plans differ widely in the areas of participant qualifications; contribution limits and deductibility; timing and effect of distributions; due dates; and penalties for early withdrawal. It is essential to study your plan and/or seek professional advice before participating in a plan. Many retirement plans are self managed. Others allow participants to use an investment advisor’s services. In either case, don’t simply put your retirement plan on auto pilot and forget about it. And do not assume that a broker or investment advisor has everything under control. Open and read the mail you receive from the broker or plan administrator. Review your plan’s activity and performance at least quarterly.

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If your employer does not offer a retirement plan, set up an Individual Retirement Account (IRA) and fund it annually. Even without an employer contribution, your contributions still are eligible to grow tax deferred or tax free (depending on the type of IRA). There are a variety of investment instruments that qualify for an IRA. Consult a professional as you establish your retirement portfolio, and review your strategy and progress periodically.

Become a Saver We live in a “right now” society. Patience is a forgotten virtue. All too often we want the biggest house, the best car, the newest gadget or the highest-quality flat screen television. We live a champagne lifestyle on a beer budget (or in my case, a seafood carbonara lifestyle on a ramen noodle and canned tuna budget). We take on debt, overwork ourselves and mortgage our future financial security. We must learn to become savers rather than spenders. >>> www.ficpa.org

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Shun credit-card overuse. Too much credit-card debt can lead to financial strain or even worse, bankruptcy. Keep in mind that whatever you buy with credit cards today, you’ll pay for with future earnings. Always strive to pay off monthly creditcard balances to avoid paying interest. If you already have sizeable credit-card debt, pay off the cards with the highest interest rate first. Many financial advisors believe avoiding the temptation to give in to thoughtless credit-card spending is the most important decision young people can make. Keeping money in your pocket, rather than in credit-card companies’ coffers, allows for financial flexibility in the future. The next step is to plan for unexpected situations or unwanted surprises. One of the biggest concerns is job loss. This might be less of a surprise, given the current economic climate. Although CPAs are more resistant to the economic downturn than many, they aren’t invulnerable to unemployment issues. Other emergencies also can place a financial strain on people who have inadequate savings. This may lead to credit-card dependency. What would you do if your water heater broke, your car transmission died or you suddenly became ill? Would your savings be enough to tackle these emergencies, or would you develop ulcers from worry? Financial advisors used to recommend stashing three to six months worth of living expenses or wages into a highly liquid account, such as an interest-bearing checking, savings or money-market account. Now, given the turmoil in the job market, advisors have increased this recommendation to six to twelve months. The final step is to develop and implement a sound long-term saving and investment strategy. Investment strategies vary from person to person and depend on such variables as risk tolerance, time frame and investment goals. A detailed discussion about investment strategies is beyond the scope of this article, but seeking the advice of a licensed financial planner is a good place to start. Does the idea of becoming a saver seem daunting? Start small. Begin by paying down your high-interest debt, such as credit-card debt. Then move on to paying off your other debt. While paying down debt, set a monthly savings goal. A monthly savings of five percent of your income is a great place to start. Slowly increase this to 10 percent as you pay down debt. Creating and following a budget helps provide the discipline to reduce debt, monitor spending and maximize savings. www.ficpa.org

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“For young CPAs, it can be difficult to find time for personal financial management.” Avoid Financial Hazards Our financial memories are short. We make the same mistakes repeatedly – only the investment changes. In the mid to late 1990s, it was technology and dotcom stocks. In the early to mid 2000s, it was the real estate market. Avoid the herd mentality when choosing investments. The purchase and sale of investments should be based on your objectives, the market and your sophistication level. Avoid investing in something you don’t understand, and that you don’t have time to monitor. Keep in mind the old investment rule, “buy low, sell high.” Finally, be realistic with your expected returns. Don’t spend too much on your residence. Your mortgage (including escrow) or rent payment shouldn’t be more than 20 to 30 percent of your monthly income. Financial advisors differ on the preferred mortgage term. Some favor a 15year mortgage because you pay less interest over the life of the mortgage. Others prefer a 30-year term because the smaller payment allows for greater flexibility in tough times, and long-term returns in the stock or bond markets will be larger than home value appreciation. I tend to agree with the latter opinion, unless you have enough flexibility through discretionary income or savings. Don’t use your home as an ATM. Leave your home equity alone. You can’t expect continuous or colossal value appreciation. It helps to think of your home as a personal use asset (such as a car) rather than as an investment, although your home probably will increase in value over time. Homeowners should use home equity loans only for large-scale home improvement projects that add value to the home, or for extreme emergencies. If you change jobs or careers, don’t cash out your retirement account. This is a common hazard, given the turnover in the job market. Instead of cashing out your account, roll it over into another qualified retirement account, such as an IRA. You won’t have to pay taxes on the distribution and you’ll avoid the early withdrawal penalty, which could be as much as 25 percent.

Consider This Take full advantage of employee benefits. In addition to retirement benefits, other common employee benefits include health, dental, vision and life insurance; short and long-term disability; flexible spending accounts; health savings accounts; and dependent care benefits. Be sure to maintain the four basic estate planning documents – a will, a general durable power of attorney, a medical power of attorney and a living will. Seek the company of people who support your financial efforts. Remember – it’s not all about money. Be thankful for what you have. Build strong family ties and relationships in addition to a strong investment portfolio. Finally, don’t procrastinate. Start building a strong financial future today. John L. Rencher Jr., CPA is a senior staff accountant for Jagusztyn & Jagusztyn, PA in Fort Lauderdale. John is a pastpresident of the FICPA’s Broward Chapter and currently serves on the chapter’s Board of Directors. He is a member of the Young CPAs Committee and the Chapter Operations Committee and serves on the FICPA Board of Governors as the regional representative for Region V.

Where to Turn for Help • The website www.feedthepig. org, sponsored by the AICPA and the Advertising Council, is a great resource for helping people between 25 and 34 take control of their finances. • The AICPA also has another great website, 360 Degrees of Financial Literacy, at www.360financialliteracy.org Both websites contain numerous financial calculators; articles about various financial topics, such as paying off debt and buying a home; and helpful tips, such as creating and following a budget.

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Governmental Affairs By John W. Johnson, FICPA Director of Governmental Affairs

Meet FICPA Member Michael Bileca

Candidate for House District 117

FICPA member Michael Bileca is a husband, father, entrepreneur and business owner – and now would like to serve the citizens of his community as a member of the Florida House of Representatives. Bileca is a candidate for the term-limited seat Rep. Julio Robaina (House District 117) currently holds. Bileca grew up in Miami and graduated with honors from Miami Sunset Senior High, where his sister, Allison, now teaches. He began his collegiate studies at Tulane University and earned a Bachelor of Science degree in management, with a minor in classical philosophy, in 1992

before becoming a Florida-licensed CPA. In 2002, Bileca received his Master of Business Administration degree from the Kellogg Graduate School of Management at Northwestern University. Bileca worked for Ernst & Young in Miami until 1995, when he became a founding partner and president of Towncare Dental Partnership Inc. – a company that employs approximately 600 people with practices throughout the state. Bileca has a proven track record of making fiscally responsible decisions that have ensured the long-term health and growth of his company and his employees.

Mike Bileca and his wife, Vivian, enjoy spending time with their sons, Gabriel, Benjamin and Nathan (left to right). 18

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FICPA Member Michael Bileca

“as american citizens, we are called to leave behind a stronger and more dynamic community than we inherited.” This is something he believes is missing in today’s elected leaders. “If elected to the Florida House, I’ll bring to state government the same principles that have guided me in business, to ensure our state’s long-term health and prosperity,” Bileca said. “These difficult economic times require elected members to the Florida Legislature to come equipped with the skills and experience necessary to meet the many challenges Florida will face in the coming years.” Until now, Michael Bileca has never run for office. He’s running now, he said, because of his children. “I have three little reasons – my three boys,” he said. “The oldest is five and I want to preserve our community and the American dream for them. As American citizens, we are called to leave behind a >>> www.ficpa.org

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stronger and more dynamic community than we inherited.” As a first-generation American, Bileca speaks passionately about his family history. Both he and his wife, Vivian, were born to immigrant parents who fled the tyranny of dictatorships in Eastern Europe and Cuba. He believes their family stories represent the true ideals of the United States, and one generation’s willingness to risk everything to reach America and raise their children here. “I believe all people have a natural yearning to find and fulfill a purpose in life, and that it is incumbent upon business and governmental leaders to create an environment in which freedom and responsibility empower people to flourish,” Bileca said. The FICPA will closely follow Bileca’s House race. We hope his efforts inspire other CPAs to run for the Florida Legislature in the future. For more information about candiates who are seeking office in the 2010 elections, visit the Florida Division of Elections website at http://election.dos. state.ﬂ.us/.

Meeting your clients’ needs along with your own professional needs is a true balancing act.

Join today. It’s free. It’s easy. It just makes sense. Visit www.ﬁcpa.org/sections, or call (800) 342-3197 (within Florida) or (850) 224-2727, or e-mail sections@ﬁcpa.org.

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Four fantastic FICPA University Conferences this fall to revitalize your mind. Take a fresh, cool look at critical accounting topics while in beautiful, campus surroundings. Refresh your knowledge, and reconnect and renew friendships with fellow university alumni.

• University of Florida Oct. 14-15, 2010 Gainesville • University of South Florida Oct. 21-22, 2010 Tampa • Florida Gulf Coast University Oct. 28-29, 2010 Ft. Myers-Estero • Florida State University Nov. 12, 2010 Tallahassee

For more information, visit www.ficpa.org/cpe, or call (850) 224-2727 or (800) 342-3197(within Florida).

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FICPA NewsFlash Digest

To bring FICPA members the most current news and information in today’s fast-paced business environment, the FICPA compiles NewsFlash, a timely assortment of news events happening in the profession. The newsletter is e-mailed every two weeks, typically on Thursday afternoons. Here are some of the most popular recent FICPA NewsFlash features. To view the full stories and other NewsFlash briefs, visit our archives at www.ficpa.org/members/newsﬂash.

June 17, 2010 Florida CPAs Recognized as Women to Watch – Six Florida CPAs were recognized June 11 with the Florida Institute of CPAs’ new Women to Watch Awards. The AICPA created the Women to Watch Awards to recognize outstanding women in accounting in the categories of Emerging Leaders and Experienced Leaders. Florida Tax Amnesty Days – Taxpayers can pay overdue taxes – with no penalty and reduced interest – during Florida’s Tax Amnesty Days from July 1 to Sept. 30, 2010. All taxes the DOR administers are eligible, except unemployment tax and Miami-Dade County Lake Belt Fees. Taxpayers must sign an amnesty agreement to participate. AICPA Comments on Federal Tax Matters – On June 1, the AICPA sent a comment letter to the IRS, urging it to withdraw its recent proposal requiring some business taxpayers to report uncertain tax positions. On June 9, the AICPA Tax Section sent a comment letter to the Senate Committee on Finance, and to the House Committee on Ways & Means, regarding provisions in the referenced H.R. that affect employment-tax treatment for many firms.

June 3, 2010 Board of Accountancy Proposes Two Rule Changes – The Board of Accountancy (BOA) recently published two proposed rule changes that would need to be made before the BOA can proceed with implementing a new, simplified “check the box” procedure for reporting CPE in the future. FTC Extends Enforcement Deadline for “Red Flags” Rule – At the request of several members of Congress, the Federal Trade Commission (FTC) is further delaying enforcement of the Identity Theft “Red Flags” Rule through Dec. 31, 2010, while Congress considers legislation that would affect the scope of entities covered by the rule.

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Licensee Reminder: Extension Requires Additional CPE– If you are unable to complete sufficient CPE hours by June 30, an automatic extension is available. With this extension, you must complete an additional eight hours in accounting/auditing for a total of 88 hours (28 in accounting and/or auditing, no more than 20 hours of behavioral, and four hours in BOA-approved ethics) by Sept. 15, 2010. FICPA Member Traum Sets Dear Abby Straight – Remember the flap a while back with Dear Abby? The one in which she said enrolled agents “are the only tax specialists licensed to practice before the IRS,” thus dissing CPAs completely? CPAs reacted swiftly, and with good reason. And now, Ms. Van Buren has responded to one of our own, Sydney “Syd” Traum of Miami Beach. Syd is an attorney, CPA, and has been a member of the FICPA since 1969.

May 20, 2010 AICPA Publishes Health Care Reform White Paper – The AICPA’s Health Care Reform: A Primer for CPAs provides a comprehensive overview of the law’s provisions and corresponding implications for CPAs working in practice and industry.

May 6, 2010 Board of Accountancy Rule Change – The Florida Administrative Code was amended effective May 3, 2010. The rule change relates to work experience and was made in response to written comments submitted by the staff of the Joint Administrative Procedures Committee. 2010 Legislative Session Wrap Up – When a session ends, usually the House speaker, the Senate president and the governor gather on the fourth floor of the Capitol to celebrate and take credit for the session’s accomplishments. This year, however, was not an ordinary legislative session. Tech Tip: Convert a PDF to a Word Document – There are many times when we need to turn a PDF into a Word document. Often, we’re in a hurry and just want to edit something on the PDF quickly. Here’s a quick way to convert a PDF to Word without downloading any extra software or waiting for e-mail delivery of your document.

April 22, 2010 Report Educates CPA Firms, Professors About Forensic Accounting –The AICPA has released a new report, Characteristics and Skills of the Forensic Accountant. The report notes that, in the wake of the economic crisis that began in 2007, forensic accounting has grown as a discipline for CPAs.

FICPA OFFICIAL NOTICE In compliance with Article IV, Section 6 of the FICPA Bylaws, be it known that a regular meeting of the Board of Governors of the Florida Institute of Certified Public Accountants will be held Thursday, September 30, 2010, at 10:00 a.m. at the Greater Ft. Lauderdale/ Broward County Convention Center, Ft. Lauderdale, FL.

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Accounting Development Program Designed to Expand Diversity of Talent Pipeline From FICPA Staff Reports

Minority college students considering an accounting degree can get a glimpse of the profession through a first-ever Florida residency program geared toward community-college students. The Accounting Development Program is a new initiative offered through a partnership among PricewaterhouseCoopers (PwC), Florida International University (FIU) and the Florida Institute of Certified Public Accountants. “We are grateful to PricewaterhouseCoopers for their generous contribution,” said FICPA CEO-Executive Director, Kathryn B. Anderson, CAE. “This program is a great opportunity to cultivate 22

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interest in accounting and attract talented minorities to the CPA profession while they are making career decisions. It will help students transfer to colleges and universities to pursue accounting degrees and eventually become CPAs.” PwC recently awarded the FICPA Educational Foundation a $50,000 grant to conduct the program at Florida International University in Miami. PwC gave similar grants to Bryant University, the University of Southern California and Wake Forest University for their minority outreach initiatives. The inaugural six-day, five-night program was held June 6-11 at FIU. More than 60 students from 12 states

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representing 28 community colleges applied for the program. Only 35 students were selected; 13 are from Florida. The program was promoted nationwide to minority students who had completed their first year of college and are considering transferring to a four-year institution to earn a degree in accounting. The Accounting Development Program increases awareness about careers in accounting; improves student’s personal financial skills and knowledge; and guides students through the process of transferring from a community college to a four-year institution. The curriculum teaches accounting and business concepts through >>> www.ficpa.org

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interactive classroom exercises, a site visit to an accounting firm, and a comprehensive case study where students apply concepts from all areas of accounting to which they are exposed during the week. Students develop their professionalism through participation in mock interviews, an etiquette dinner and a presentation of their case solution. The Accounting Development Program is one of two the FICPA conducts for young people. The FICPA also runs the James Wilcox Minority Summer Residency Program (MSRP) for high-school juniors. This year, the MSRP was held June 13-17 at FIU and June 27-July 1 at the University of South Florida in Tampa. About 35 minority students from throughout Florida attended each program. For more information about the Accounting Development Program, visit the FICPA’s website at www.ficpa.org/ students/PwCADP. Or, contact Brenda Hubbard at (850) 224-2727, Ext. 419, or hubbardb@ficpa.org.

FICPA 2010

Awardees

EXPERIENCED LEADERS Barbara Burner, Owner, Barbara A. Burner, CPA

Deborah Goode, Owner/Audit Director, Hoyman Dobson

Jodi Kippe, Partner, Crowe Horwath, LLP

Lahteefah Bryant, Manager, Crowe Horwath, LLP

Andreea Cioara, Associate Director, Berkowitz Dick Pollack & Brant LLP

Hema Rupnarain, Owner, Hema Rupnarain, CPA

EMERGING LEADERS

www.ﬁcpa.org/ﬁcpa/CPAResources/Tools/Women/WomentoWatch www.ficpa.org

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Earn a Seat on the Board of Directors A How-to Guide

By Denise Stubbs, CPA, CFF, MBA

Are you curious about what goes on in the FICPA and/ or other boardrooms? Do you want to earn a seat on the board? Here, from a board “insider,” are several tips guaranteed to help improve your chances of serving on a board.

Be HonesT WiTH Yourself

“The more fully we give of our energy, the more it returns to us.”

Jack Kornﬁeld

Before setting out to become a member of a board, be sure you’re doing so for the right reasons and at the right time in your life. As a board member, you’ll commit time and energy to serving the organization. Your responsibilities will include serving on task forces and committees that meet throughout the year in various places. Attending these meetings will require time away from your office and family. Is serving on the board something you want to do? Is it something you feel passionately about? Do you have enough time and resources to dedicate to this task? If you can answer yes to these questions, you’re ready! >>>

T I

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Building Better Boards Program Can Strengthen Nonprofit Organizations Successfully managing a nonprofit’s finances is more than just putting coins in a coffee can, and having a CPA as a member of the board of directors can bring valuable financial expertise to an organization. That’s one reason the FICPA launched its CPAs Building Better Boards Program (BBB). Designed to match nonprofit organizations with CPAs willing to serve, the goal of the program is to narrow the gap in Florida volunteerism. The Corporation for National and Community Service recently issued a report that provides an overview of volunteerism in 50 major metropolitan areas. Of the 50 U.S. states, Florida ranks 49th in adult volunteerism. Tampa, Jacksonville, Orlando and Miami made the list, but ranked 38th, 43rd, 47th and 51st, respectively. Top cities for volunteerism include Minneapolis, Salt Lake City and Seattle. The service is made possible by a generous grant from the Edyth Bush Charitable Foundation to the FICPA Educational Foundation. Florida not for-profit organizations can register their profile and highlight CPA board service opportunities on the BBB database. Interested CPAs then can view the Florida nonprofit profiles online and contact organization(s) directly to learn more about available volunteer opportunities. For more information, visit the FICPA’s website at www. ficpa.org/resources/boards, or contact Jan Dobson, CAE, senior director of Marketing and Communications, at (850) 224-2727, Ext. 380, or dobsonj@ficpa.org.

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Martin Luther King, Jr.

“The value of a man resides in what he gives and not in what he is capable of receiving.” Albert Einstein Once you’ve decided to pursue your boardroom aspirations, what steps can you take to improve your chances of being selected? It’s easy – get involved and give back. For example, the FICPA offers many volunteer opportunities, such as speaking, serving on a committee, holding a Chapter office or being a high-school coordinator. Volunteerism is the perfect way to show you’re ready to serve on behalf of the FICPAs’ approximately 19,000 members.

P I T

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Be Yourself “Be who you are and say what you feel, because those who mind don’t matter and those who matter don’t mind.”

Dr. Seuss

Diversity is one of the key ingredients that allows a board to flourish and thrive. The FICPA’s BOG is made up of members who are young and old; who work for small firms and large firms; and who work in public practice, private industry and education. These differing backgrounds, skill sets and opinions help ensure that the Board makes the best decisions on behalf of the organization and its members. When seeking a seat on a board, be sure to highlight your unique qualifications and experiences.

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“Whether you think you can or whether you think you can’t, you’re right.”

Henry Ford

Do you know the No. 1 reason FICPA members aren’t selected to serve on the Board of Governors? They’ve never applied! Potential applicants may feel intimidated about applying for a board position. Or they may be uncertain that they have the right skills and qualifications. One thing is certain: if you never apply, you’ll never be selected. The FICPA accepts Board of Governors applications each fall. The form is available on the FICPA website at www.ficpa.org/ficpa/Members/Leaders/EC/ ExecutiveCommitteeBoard. The FICPA’s Building Better Boards database (see the sidebar on page 24) can help you find out how to apply to serve on a board in your area.

P I T

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“Life’s most persistent and urgent question is, what are you doing for others?”

Take a Risk

Make a Difference “Be the change you want to see in the world.” Mahatma Gandhi Have you observed something in the world that could use improvement? One person can make a difference! Figure out what inspires you and go for it! Don’t let fear or rejection keep you from accomplishing your dreams. Instead, embrace the opportunities life gives you. Make your life whatever you want it to be!

T I

Get Involved

Denise Stubbs, CPA, CFF, MBA is the owner of Forensic Accounting Solutions and Bean Counters Bookkeeping Solutions in Fort Lauderdale. She is an adjunct professor at Florida Atlantic University and is serving her third term as an at-large member of the FICPA Board of Governors.

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Web Digest Whether published in Florida CPA Today or on the FICPA’s website, www.ficpa.org, articles by FICPA members are full of information about timely accounting issues. On the website, you’ll find new and archived articles on a variety of topics. Here is an abstract of “Young CPAs Develop Their Careers, Mentor Future Colleagues” by Lynn Hepner, FICPA Membership Development Manager.

Young CPAs Develop Their Careers, Mentor Future Colleagues

The FICPA supports and encourages young CPAs in their efforts to reach out to their peers and accounting students, and to establish themselves as professionals in their communities. In 2003, the FICPA formed the Young CPAs (YCPAs) Committee to maintain the profession’s vitality and to provide leadership opportunities to future CPAs. Using today’s vast networking and communication resources, the Committee’s goal is to mentor the next generation of accounting professionals. “Through the YCPAs Committee I’ve met CPAs from all over the state. I’ve developed long-lasting personal and professional relationships,” said Ron Weinbaum, YCPAs Committee chair. “The Committee is also a great place to network. I’ve used committee members’ services on jobs that weren’t in my area of expertise and I’ve traded referrals with other committee members. “This year, for the first time, I spoke to college accounting students about the benefits of joining the FICPA. I was overwhelmed as I looked around the room full of students who wanted to get involved and truly make a difference in our profession,” Weinbaum said. Committee members connect with other young accounting professionals and students while building their own leadership and professional skills. Networking can be expansive and overwhelming, and personal follow up is key. Currently, every Florida region has a YCPAs Committee member contact. The Committee’s mission is simple – to identify services and benefits valuable to young CPAs, and to develop ways to engage them in professional development and networking. The YCPAs use many venues, including social and philanthropic events, to accomplish their objectives.

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By Lynn Hepner, FICPA Membership Development Manager Social Networking Partnering frequently with young lawyers and Young Professional Leaders groups, the YCPAs organized and served as hosts of more than two dozen events throughout Florida last fall. Local businesses welcomed opportunities to support the events, all of which were open to local accounting and other professionals. Because e-mail often collects cyber dust and ultimately may find its way to the “D

| July/August 2010

folder,” YCPAs have found alternate ways to communicate. Available exclusively to FICPA members who are younger than 35, the YCPA Listserv offers a multitude of accounting discussion topics. Also available to members under 35 is the YCPA LinkedIn Group. The YCPA Facebook page is open to the public. To read this article in its entirety, visit the FICPA’s website at www.ficpa.org/FCT/ Technical.

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You asked so we are building it, from the ground up. An all-new FICPA website is in the works to make the information you need easier to find. You may have already noticed changes in these areas: • Dedicated to all the facets of FICPA membership and the association, including how to get involved. • One source for any Florida CPA to stay up-to-speed on timely initiatives, quality CPE, licensure, and useful state and national accounting resources • For aspiring CPAs of any age; accounting educators and mentors; and others who influence accounting education • Information about joining the FICPA – benefits, services, programs, staff contacts and more And there’s more to come. Based on member feedback, surveys and testing, the new FICPA website will still be your one-stop source for news and accounting information in Florida – only better than ever. Come see.

Questions about your website? Contact webservices@ficpa.org, or call (850) 224-2727, or (800) 342-3197 (within Florida).

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FLORIDA CPA TODAY

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Department of Revenue Update By Renee Watters, Florida Department of Revenue, Office of Public Information

DOR Issues Annual Report Legislature Passes Tax Amnesty, Holiday

The Florida Department of Revenue (DOR) 2009 Annual Report for Fiscal Year 2008-09 now is available online at dor.myflorida.com/dor/report/2009_ annual_report.pdf. The report explains the services DOR provides the State of Florida and its customers, and summarizes the department’s accomplishments. It also shares DOR’s goals and strategies for the future.

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DOR’s mission is to administer tax law fairly and consistently, and to provide excellent service at the lowest possible cost. Like most businesses and individuals in today’s economy, DOR faces the challenge of doing more with fewer resources. The report discusses the ways DOR employees are focusing on critical tasks, streamlining processes and finding inexpensive or free ways to improve service.

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Last year, DOR reached a milestone: 40 years of tax administration. The department was created in 1969 when the Florida Legislature reorganized state government. In 2009, DOR employees looked back at the department’s 40-year history with a goal of understanding its achievements and gaining insight for future improvement. The report provides an overview of DOR’s history and >>>

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explains how the agency plans to continue increasing its effectiveness and enhancing its services.

Tax Amnesty, Holiday Coming This Summer During the 2010 Legislative Session, the Florida Legislature passed tax amnesty legislation. Taxpayers can take advantage of the amnesty program – which will be Florida’s first since 2003 – from July 1, 2010 to Sept. 30, 2010. The program gives taxpayers a one-time opportunity to satisfy their tax liability and avoid criminal prosecution, penalties and a significant amount of interest. The 2010 Tax Amnesty Program applies to these taxes: local option; government leasehold intangible personal property; documentary stamp; communications services; gross receipts; motor fuel; severance; sales and use; corporate income; emergency excise; local option fuel; pollutant; waste tires and lead-acid battery fees; insurance premium (taxes, surcharges and fees); and the Motor Vehicle Warranty Trust Fund fee. To participate in the amnesty program, taxpayers must file returns and pay the tax due, as well as a specified percentage of the interest due and the administrative collection processing fee. No penalties

will be imposed on any tax paid under provisions of the amnesty program. For the first time since 2008, the Florida Legislature has authorized a sales tax holiday. The three-day holiday – which will be the ninth since 1998 – is scheduled for Aug. 13-15. During the holiday, books and clothing that are $50 or less, as well as supplies that are $10 or less, will be tax exempt. DOR will provide a Tax Information Publication (TIP) to retail associations, and to about 645,000 Florida retailers. The TIP, which also will be available online at dor.myflorida.com/dor/, will explain planning for and handling issues related to the sales-tax holiday.

DOR Updates Unemployment Tax Form In March, DOR revised its Employer’s Quarterly Report (Form UCT-6). Taxpayers may print the correct version of the form or order copies online at dor.myflorida.com/dor/forms/index. html#unemp. The DOR website now contains a link to an online installment payment calculator. Taxpayers can use the calculator, located at taxapps3.state.fl.us/UCT6calculator/, to figure their unemployment tax payments. For more information about unemployment taxes, visit DOR’s website at dor.myflorida.com/dor/taxes/ut_rates. html.

who’s eligible for Sales tax amnesty? Taxpayers or businesses are eligible if their liability for tax, penalty or interest was due on or before July 1, 2010, and: • They complete a Tax Amnesty Agreement • Their liability is not already covered by a settlement or payment agreement • They are not under criminal investigation for violating a Florida revenue law • They have not been convicted of violating a Florida revenue law DOR will mail taxpayers a publication with information about participating in the program. The publication also will be available on DOR’s website at dor.myﬂorida.com/dor/.

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FLORIDA CPA TODAY

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Student Outreach IRS Special Agents Coach FSU Accounting Students Project Involves Mock Criminal Investigations

From FICPA Communications Staff Reports

Florida State University accounting students conducted mock fraud investigations recently with the best of the best, the Internal Revenue Service’s Criminal Investigation unit (IRS-CI). The students investigated a variety of possible crimes, making arrests and testifying in court. Mock crime scenarios included a scheme to acquire federal income tax refunds, financial kickbacks to a CEO, a money-laundering operation and an abusive tax preparer filing bad returns. Students and IRS special agents recently presented the IRS-CI’s Adrian Project, an applied-learning opportunity that gives students the chance to investigate financial

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“This experience showed us you can pursue a career in accounting and still live a very (sometimes too) exciting life.” fraud through forensic accounting. Developed by the IRS in 2002, the program was dubbed the Adrian Project after its inaugural offering at Adrian College in Michigan. “The Adrian Project involves true-tolife investigative scenarios, much like the

| July/August 2010

cases IRS special agents work,” said Linda J. Osuna, the special agent in charge of IRS-CI’s Tampa field office. “We are excited to share this unique opportunity with the students at Florida State University. The Adrian Project is an excellent teaching tool.” Four student teams from the College of Business’ undergraduate accounting classes, such as Fraud Examination and Investigative Accounting, examined four cases with the help of current or retired IRS special agents. The mock investigations were designed to give students real-world experience in identifying fraud. The five-hour investigations began with information and clues supplied by the >>>

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IRS-CI team. The students then followed the trails with their assigned coaches and completed the investigations on their own. The IRS team evaluated their findings. FSU student Gayla Burdick’s team searched a fictitious bar for evidence of money laundering. “Our group followed a tip that a bar was carrying two sets of books – one real set and one set that the owner showed the IRS,” Burdick said. “I had to address the magistrate to obtain a search warrant, and I was the lead agent when we returned to the bar with the warrant. The bar owner put up a bit of a fight, so we had to conduct our search while restraining him. We recovered the second set of books and a handgun.” “This was an amazing opportunity for our students,” said Bud Fennema, Ernst & Young Professor of Accounting and chairman of the Department of Accounting. “The Adrian Project allowed our students to bridge the gap between classroom learning and real-world experience. They also had the added bonus of working with the IRS professionals who are the best in the business.” Not only does the Adrian Project provide students with the training they’ll need

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for accounting careers, it also highlights other opportunities in accounting, including working for the IRS. “The project introduced us to an area of accounting that I don’t think a lot of us even knew existed,” Burdick said. “This experience showed us you can pursue a career in accounting and still live a very (sometimes too) exciting life. Several students in our group were very interested in the possibilities.” “The Adrian Project is fun and challenging for the students and the agents,” Osuna said. “It also allows tomorrow’s accountants to apply their classrooms skills in what may be, unexpected ways.” The project provides a hands-on approach to learning a different side of accounting,” Burdick said. “It was interesting, educational and fun. I hope FSU and the IRS will continue the program.” For more information about the Adrian Project and IRS-CI, visit the IRS’ website at www.irs.gov/ compliance/enforcement.

FSU accounting students Stephanie Viso, Robert Bateau, Thomas Speno, Jason Gutman, David Flowers and Jeannine Mazer (left to right) play the role of oﬃcers with the IRS’ Criminal Investigation Division.

Paul Grunewald, Nicole Ruddock, Justin Yount, Ross Bernkrant, Jordan Argiz and Kelly Martella (left to right), FSU accounting students, participate in a mock fraud investigation.

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Nancy E. C

ner an

On the Move

David C um

TRANSITIONS

nd rla be

Deerfield Beach: Christian H. Parks, LLC has changed the firm name to Parks & Company, LLC. Fort Lauderdale: Keefe, McCullough & Co, LLP, announces that Enrique Llerena has joined the firm as a supervisor. Fort Myers: Stroemer & Company announces that Kendra Bachant and Kimberly Tartaglione have joined the firm. Hollywood: Florida Business Valuation Group Inc. announces that Nancy E. Canner has been named as Director, Forensic Accounting. West Palm Beach: Divine, Blalock, Martin & Sellari, LLC announces that Scott Stein has become a principal of the firm.

WHO’S NEWS a en er

Enriqu eL l

Charle s“ C Margetta ck” hu Jeffrey R.

ith Sm n

Scott Ste i

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Rudolf Armbruster of Berenfeld Spritzer Shechter & Sheer, LLP in Coral Gables has been accepted as an accredited senior appraiser of the American Society of Appraisers (ASA). Herbert L. Becker has been named president and CEO of Hackett’s Stores Inc., a high-fashion, small-town department store chain in upstate New York. Laura Krueger Brock of Kirkland, Russ, Murphy & Tapp, PA in St. Petersburg was named a finalist in the Business Women of the Year category in the 2010 Women of Distinction Awards. The St. Petersburg Area Chamber of Commerce Women’s Council presents the awards, honoring outstanding women in business and volunteerism in Pinellas County. David Cumberland of CPA Associates in Bradenton was selected by the University of South Florida SarasotaManatee Accounting Advisory Council to be a full member of the council. Hoymon Dobson CPAs in Melbourne has continued supporting fundraising efforts for the Juvenile Diabetes Research Foundation (JDRF) for the 13th consecutive year. Charles “Chuck” Margetta of Plum & Company in Sarasota has been asked by the Financial Accounting Standards Board (FASB) to be a member of the not-forprofit resource group it is forming. Steven R. Press of Press & Wesockes in Davie has been appointed to the Board of Directors of the Susan B. Anthony Center in Pembroke Pines. Jeffrey R. Smith, chief deputy clerk of court and comptroller for Indian River County, recently was installed as president of the Florida Government Finance Officers Association (FGFOA) at its annual convention in Orlando. For more news about members and other Florida CPAs, visit CPAs in the Spotlight at www.ficpa.org/ficpa/News/Spotlight. The space for Who’s News, Transitions and other announcements published on this page is limited to news focusing on promotions and new hires for FICPA members; speeches by members at professional conferences; and other firm news, such as recognition of business achievements. We do not publish FICPA committee appointments as a part of this feature because of space limitations. Submissions for On the Move can be e-mailed to communications@ficpa.org.

Clements, Cook Win Writing Excellence Award From FICPA Communications Staff Reports

The FICPA Editorial Committee has named Drs. Lynn Clements and Gary Cook as winners of the 2009 Writing Excellence Award. Drs. Clement and Cook received the Lynn Clements annual honor for their Web Digest article, “A CPA’s Investigation of Fraud,” which was published in the July/ August 2009 issue of Florida CPA Today. Clements, a professor of accounting at Florida Gary Cook Southern College (FSC), practiced public accounting for six years. She is certified as a Florida CPA; a Certified Management Accountant (CMA); a Certified Forensic Accountant (Cr. FA); a Certified Fraud Examiner (CFE); and as Certified in Financial Management (CFM). She is a member of the FICPA; the AICPA; the Institute of Management Accountants (IMA); the American Accounting Association; and the Association of Certified Fraud Examiners. Cook, an FICPA member, is an associate professor of business administration at FSC. He has taught at Michigan State University, the University of South Florida, the University of Dubuque and Governors State University. His research interests include decision support systems, information technology management, electronic commerce and human computer interactions. He is the recipient of the Faculty Excellence Award from Governors State and is a Certified Wireless Security Professional. Cook is a reviewer for several journals and is on the Editorial Board of The Journal of Information Systems.

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New Members The Florida Institute of Certified Public Accountants welcomed 329 new members during April and May 2010. Atlantic Boca Raton: Angela L. Sapone-Brunelle Lake Worth: Robyn M. Weiss West Palm Beach: Nuwandi Gunasekara, Keith B. Spritz Brevard County Cocoa: Cynthia G. Parks Cocoa Beach: Sarah Davis Melbourne: Heather Norris, Laura L. Searcy, Carol M. Smith West Melbourne: Christine M. Zamagias Broward County Boca Raton: Leah Conway, Julie R. Edstrom, PuiI K. Lai, Michele R. Safra Boynton Beach: David Zabon Coconut Creek: Rick Barris Cooper City: Erina Master Coral Springs: Marceline Jadotte Davie: Linda S. Asencio Fort Lauderdale: Kathleen J. Berube, Robert Granson, Craig I. Hirsch, Felizia Holmgren, Kara L. Perkins, Deborah S. Swanquist, Stacy L. Ziegler Hobe Sound: Edward D. Sweet Hollywood: Michele G. Howell, Scott Johnson, Kristian Nenov Jupiter: Gabriel Alvarez Parkland: Beth J. Eisenberg Pembroke Pines: Brad K. Saunders Plantation: Maria F. Cancelado, Chimene Jean-Francois, Suwarman Sufian Pompano Beach: Cynthia A. Nowzamani, Joseph J. Sladicka Sunrise: Ilkanice L. Haughton, Monica Posada Tamarac: Gregory W. Brown Weston: David S. Greenberg, Leif G. Novie Central Florida Apopka: Jeffrey L. Lareau Bradenton: Shane C. Atwood Deltona: Kathie A. Poirier Kissimmee: Ana L. Lantigua Lake Mary: Delane W. Buck, Michael P. Christian Maitland: John P. Sproull Miami: Stephen J. Bosak www.ficpa.org

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Orlando: Allison Blake, Armando X. Bustamante, Mary L. De La Rosa, James W. Eaton, Jessice England, Dale Houser, Marylou D. Howard, Donald K. Hulslander, Arpit D. Maharaja, Ryan A. Myers, Jenna Poole, Courtney L. Ruggles, Jeri L. Snyder, Jamie N. Wekar Oviedo: Althea J. Antoine Sanford: Kristine Spusta Windermere: Thordis Olafssn Winter Park: Amanda Brady Winter Springs: Brian Adamson, James E. McKenna Emerald Coast Davie: Daniel R. Lucas Fort Walton Beach: Trevia J. Buckner Mary Esther: Suzanne M. Averill Florida Keys Big Pine Key: Katherine H. Reitzel Key West: Anne M. Septic, Sue Turner Gold Coast Hialeah: Gueter Aurelien, Kelly A. Landrum Hollywood: Stephanie Ferrara Miami: Steve L. Gardner Pembroke Pines: Robert D. Ortiz Gulf Coast Bradenton: Jason P. Catlin Bradenton Beach: Victor V. DiTommaso Clearwater: Emily Smithson Land O’ Lakes: Stephanie C. Clark Nokomis: Gerard F. Stellwagen Riverview: Laura L. Tatem Sarasota: Jesse K. Ehret, Katie C. Pepin, Marra T. Rycyk, Kelly R. Saba, Gena R. Smoot Tampa: Gretchen M. Whalen, Joshua M. Whalen, Neil R. Winter Jacksonville East Palatka: Christine Hammond

Jacksonville: Tywana S. Bowman, Darrell E. Boyles, Matthew B. Elmore, Alexander M. Evers, S. Taylor Hall Hixon, Jessica M. Homan, John F. Lawson, Jacob L. McNeill, Glenn M. Tyndall Palm Coast: Dmitry A. Gladun Ponte Vedra Beach: Owen E. McCafferty St. Augustine: Laura Marquis St. Johns: Christopher A. Patterson Miami-Dade Coconut Grove: Ana M. Rojas Coral Gables: Gerardo J. Donates Doral: Orlando Ojeda-Ortiz Homestead: Jennifer L. Reynolds Miami: Jonathan S. Baker, Bianca L. Berardi, Herin Bolivar, Maxine Brandmark, Jimmy Carmenate, Raul A. de la Campa, Stephanie Eckardt, Monica C. Fernandez, Steffany R. LafosseMarin, Yamila Nelson, Zeida Orbea, Adrianne N. Rodriguez, Nadine Stephens, Ana M. Vidal Miami Lakes: Angie P. Adames Miami Shores: Stuart D. Cooper North Miami Beach: Lisa G. Goldman, Mark J. Langer Plantation: Edward H. Codispoti Sunny Isles Beach: Joanne Tedone Wilton Manors: Angel T. Goueti Miami-Downtown Coral Gables: Carlos E. Bravo, Jose L. Gonzalez, Annette RivasVasquez, Aaron Shmalo Doral: David Hernandez Miami: Gina A. Cendoya, Silvia J. Flores, Shannon McGregor, Javier Mesa, Lionel J. Nerette, Jose V. Peris, Amanda A. Pinger, Jonathan Ross, Raphael Toll, Mary C. Urdaneta, Michael B. Vidal Miramar: Vivian M. Perez Mid-Florida Orlando: Alexei Solomon Tavares: Gabriel P. Burroughs

Miracle Strip Panama City: Tiffany D. Despard, Amy M. Minkewicz Panama City Beach: Olena M. Nekrasova, Robert M. Wallace North Central Florida Fleming Island: Susan M. Carter Gainesville: Katharine R. Gorrell, Charles L. McDonald, Charles P. O’Byrne, Alan Ricafort, Michael I. Salzman, Robert M. Sharon Lecanto: Jennifer M. Jones Ocala: Jeremiah L. Powell North Suncoast Brooksville: Johnathan M. Walker Dade City: Thomas R. Stearns Land O’ Lakes: Richard Zak New Port Richey: Vicki P. Durshimer, Joseph L. Morande Palm Beach Boca Raton: Milton J. Abramson, David M. Epstein, Luis Feliu de Mora, Jennifer C. Wu Boynton Beach: Rossaida R. Jimenez, Samantha D. Rosenstein, Mark C. Worch Delray Beach: Joshua B. Geib Jupiter: William J. McCue, Eric Pinto, Cynthia M. Tulloch Lake Worth: Bedyna Joseph, Eva A. Montalvo Miami: Paul F. Keihner Palm Beach Gardens: Scottie Britt, Wayne Van Moppes Royal Palm Beach: Peter M. Lyons Stuart: Alisa D. Myszkowski Tomkins Cove: Joseph M. Coskey West Palm Beach: Yassine Elhour, Barbara Ahearn, Juanita N. Evurunobi, Rowana S. Flitan, Edward T. Holt, Edward J. Mahoney, Ann M. McLaughlin, Refilwe Mokgohhloa, John S. Yeend, Diane L. Zapata, Fisnik Zogaj Polk County Lake Wales: Ashley D. Hogan, Laura Swygert Lakeland: Kenneth R. Buchholz Mulberry: Jason Lester >>> Page 36

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Sailfish Sebastian: Michael DeSena Stuart: Ryan DiNunzio, Joyce Ruggeri Vero Beach: Jane A. Ford, Trevor J. Lopes Sandspur Brandon: Heather M. Lively Plant City: Irene Castillo, Robert C. Goodwin Riverview: Kevin D. Wrobel Tampa: Robert W. Westlake Temple Terrace: Antoine V. Matar South Dade Fort Lauderdale: Vanessa Aybar Lake Worth: Evan S. Bernstein Miami: Yeslie Castro, Steven A. De La Fe, Wendy V. Garcia, Mario A. Sariol Southwest Florida Bonita Springs: William A. Somers Bradenton: Jo Anne Ibasfalean Clearwater: Jenny Schneider Estero: Michael T. Adams

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Fort Myers: Kyle J. Crawford, Cynthia C. Cross, William L. Iffland, Barbara A. Williams Lehigh Acres: Leroy Z. Bugger Naples: Matthew Z. Pikus, Paul J. Selvidio, Austin K. Vealey Punta Gorda: Mary R. OBannon Sarasota: Ernest J. Dean Suncoast Apollo Beach: Sherrie R. Bojeâ&#x20AC;&#x2122; Clearwater: Richard B. Baumgardner, Delphinia N. Davis, Gail A. Heinold, Junko S. Lescinski, Matthew N. Low, Michelle Moyer, Robert A. Pitschke, Charles A. Polansky, Natalia Remizova, Melvin L. Sams Dunedin: Michael A. Stavroff Kenneth City: Joan Sullivan Lutz: Thomas P. Iannone New Port Richey: Sarah Abels Palm Harbor: Irini Barlas Pinellas Park: George C. Anderson St. Petersburg: Jeremy C. Hill, Beverly A. Parks, Grover S. Kearns Wesley Chapel: Michelle R. Moyers

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Tallahassee Tallahassee: Erin M. Arnold, A. Keith Dean, Michael G. Dupree, Denison C. Graham, Frank T. Rong, Nancy S. Sigler, Christina J. Will

Tarpon Springs: Christopher A. Dulik Temple Terrace: Paige H. Valiente Valrico: Aaron W. Niec Wesley Chapel: Ana Chirino, Elizabeth K. Shepard

Volusia County Ormond Beach: Patricia B. Church Port Orange: Richard G. Colwell

West Florida Lutz: Gina M. Florio Navarre: Lisa J. Bullock Panama City Beach: Jane P. MacWhinnie Pensacola: Donald T. Backus, Jennifer R. Elkins, Kathrin L. King, Amy C. Maygarden Venice: Jennifer W. Lockwood

West Coast Clearwater: Marianne N. Kaplan Clermont: Anamaris Gonzalez Odessa: Edward R. Diliberto, Linda T. Fernandez St. Petersburg: John N. Bowman Tampa: Jeffrey W. Bojeâ&#x20AC;&#x2122;, Stephen Boulter, Julie N. Campbell, Kristen A. Conner, Eric A. de Moya, Sharon M. Diaz, Stephen A. Farley, Mary F. Fulmer, Adam E. Gates, Andrew J. Head, Betty J. Hopkins, Kimberly M. Katzenbach, Raymond Kidwell, Robert D. Mullen, David M. Ritzert, Raine Roberts, Jamie B. Schabacker, Rebekah M. Spuler, Marsha C. Weisse, Natalie E. Yarborough

Out of State Arecibo, Puerto Rico: Jesus Torres-Acevedo Atlanta, Ga.: Christopher P. Grippa, Timothy N. Richie Boca Raton, Fla.: Leonard A. Dopkins Branson, West Mo.: Perry C. Dunmire Buchanan, N.Y.: Charles A. Buchler Carnegie, Pa.: Kimberly P. Griffith >>>

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Honolulu, Hawaii: Kathleen R. Clark Miami, Fla.: Jeffrey M. Clark Mineral Wells, W.Va.: Donna K. Sands New Port News, Va.: Jason Wallace New York, N.Y.: Valerie A. D’Guerra Niles, Mich.: James F. Scarpone Overland Park, Kan.: Eileen L. Spony Salt Lake City, Utah: Richard C. Price San Juan, Puerto Rico: Marcos L. Colon-Cuebas Santa Monica, Calif.: Robert A. Rivero Sewell, N.J: Timothy O’Hara Staten Island, N.Y.: Boris Kaplan Valdosta, Ga: Mark F. Buescher West Orange, N.J.: Seymour Bressler Winter Haven, Fla.: Deborah L. Schulz Out of Country Langton Green, United Kingdom: Stephen J. Sepanski Madrid, Spain: Tony Macias

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FLORIDA CPA TODAY

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Market Place FOR SALE

POSITIONS AVAILABLE CPA needed to manage tax & accounting practice in Hollywood, Fla. Must be experienced in small business accounting, payroll regulations and corporate and individual tax preparations. Audit exp preferred but not required. E-mail arun@sareentax.com. Second Harvest Food Bank of Central Florida is seeking a VP of Finance & Administration. Min 5 yrs mgmt/supervisory exp performing substantially comparable functions. Bachelor’s degree in accounting or business administration – CPA preferred. Advanced knowledge of accounting, HR & related systems software. Nonprofit exp a plus. E-mail resume to vmarshall@ foodbankcentralflorida.org or fax to (407) 295-5299.

Successful transitions require experienced, confidential, professional services you can trust. This is what Akins Professional Brokerage provides. Specializing exclusively in the brokerage of CPA firms, we have no upfront fees. List your firm w/ a professional. Call David Akins, CPA, at (877) 277-0272. Visit our website at www.ProfessionalCPAbroker.com.

OFFICE SPACE South Broward CPA firm owner seeks quality individual to share office with possible eventual merger for permanent mutual financial benefit & growth. Let’s share our resources. Flexible lease in current space, allowing possible relocation. E-mail browardcpafirm@aol.com. PRACTICES WANTED FOR PURCHASE OR MERGER CPA w/ ofc in Hollywood, Fla. is looking to buy or merge w/ an accounting, auditing, bookkeeping, payroll or tax practice. Would prefer the location to be within 15-mile radius of 3800 S. Ocean Drive in Hollywood. E-mail arun@sareentax.com. Central Florida CPA seeking to partner w/retirement-minded practitioner along I-4 corridor. Desire annual billings greater than $400,000. Preferred transition period 1-5 yrs. Goal to enhance firm’s value by increasing client base. E-mail lberry8@cfl.rr.com.

RATES AND FEES: Members - $95 for 35 word minimum; $2.70 per word over 35 words. Nonmembers - $105 for 35 word minimum; $3.00 per word over 35 words. Advance payment is required. Bolding and logos are permissible for an additional fee. CATEGORIES: Content subject to approval and categories available are: (1) Positions Available, (2) Practices Wanted for Purchase or Merger, (3) Miscellaneous, (4) Office Space, (5) For Sale. All requests are subject to space availability. Ads run concurrently on Florida CPA Netlink™, www.ficpa.org. SUBMISSION OF ADS: E-mail ads to communications@ficpa.org. For more information, contact the FICPA Communications Department at (800) 342-3197 (within Florida) or (850) 224-2727, Ext. 385. FILE NO. REPLIES: If anonymity is desired, responses can be mailed to the FICPA offices using a file number. The responses will be forwarded to the address provided by the advertiser. For complete classifieds policies, visit www.ficpa.org/ficpa/ CPAResources/ClassifiedsJobs/Classifieds.

To access Marketplace online, visit www.ficpa.org/ficpa/CPAResources/ClassifiedsJobs/Classifieds. 38

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Ready to Buy or Sell? Accounting Practice Sales is the nation’s largest marketer of accounting & tax firms. Don’t go it alone – let us help you get the best deal possible! Call Rick Lee (877) 760-7700, Ext. 710, or Tim Price (727) 698-7262; www. accountingpracticesales.com. We sell practices. ProHorizons has been helping CPAs sell their practices since 1995. Prompt & professional. Call for a free confidential consultation w/ our local representative, Liz Phillips, at (877) 459-2933 or visit www.prohorizons.com. Buy-Sell-Merge-Finance your practice w/ USA’s No. 1 Accounting Brokerage Firm. A Florida-licensed real estate broker w/ 27 yrs of CPA firm merger-acquisition exp. Offering a complete consulting assistance package to our clients including 100% conventional bank financing to the buyer. Current practices available include: Clearwater CPA $1,500,000+; Tampa-Largo $1,200,000; Sarasota $675,000+; Tampa Bay Carrollwood $550,000; Orlando $450,000: Ocala $185,000+; Gainesville $475,000; Wellington $700,000; Boca Raton $500,000. Many others soon! Contact Leon W. Faris CPA, Professional Accounting Sales, at (800) 729-9031 or visit our website at www.cpasales.com.

access Florida CPA Today archives online For your convenience, Florida CPA Today articles from 1997-present are posted on the FICPA’s website at www. ficpa.org/ficpa/Members/ Tools/Publications/ FCT/Archives. The archives provide a variety of previously published information, including technical articles written by member CPAs, legislative updates, DOR and IRS updates and much more.

www.ficpa.org

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• Seminars, conferences, accounting shows • The widest variety of CPE topics in the state • Flexible self-study courses • Convenient webcasts • Great courses, great price: Value-Priced CPE

For more information, visit www.ficpa.org/cpe, or call the FICPA Member Service Center at (850) 224-2727, or (800) 342-3197 (within Florida).

www.ficpa.org

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Florida Institute of Certified Public Accountants P.O. Box 5437 Tallahassee, FL 32314-5437

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