F L O R I D A
florida C P A
TODAY
c o n te n ts J U LY / A U G U S T 2 0 1 4
VOLUME 30, NUMBER 4
A P U B L I C AT I O N O F T H E F LO R I DA I N S T I T U T E O F C E R T I F I E D P U B L I C A C C O U N TA N T S
cover story
departments 5
22
President’s message
28 Staff reports 32 News Briefs 34
CPAs in the Spotlight
36 Marketplace 38 DOR update 39 Of Course! CPE Listings
Staying the Course Jeff Barbacci Serves as 87th Board Chair
features
14 On the cover: Jeff, his wife, Emily, and their sons, Anthony and Dominic (front left to right) visit the Meadows Soccer Complex in Tallahassee, where Dominic plays soccer. Cover Photo by TREW Media Inc.
FLORIDA CPA TODAY
6 12
Meet the 2014-2015 FICPA Executive Committee
14
Association Fraud Living large on homeowners’ dues
18
Ignorance Isn’t Bliss Desperately needed: CIRA advisors
30
Rewind: Mega CPE Conference
39
Web Digest Third Party Verification Letters
F L O R I D A
PRESIDENT/CEO Deborah L. Curry, CPA, CGMA SR. DIRECTOR OF MARKETING & COMMUNICATIONS Jan Dobson, CAE, APR, IOM EDITOR Suellen D. Wilkins GRAPHIC DESIGNER Loleta K. Bolden PUBLICATIONS COORDINATOR Dianne Dearduff EDITORIAL COMMITTEE David J. Hochsprung, CPA, chair Vicki H. Meyer, CPA, vice chair Walter C. Copeland, CPA • Douglas E. Day, CPA Lynda M. Dennis, CPA • Casey A. Fletcher, CPA Michael S. Kridel, CPA • Troy Y. Manning, CPA William C. Quilliam, CPA, Ph.D. 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 www.ficpa.org/letterstoeditor. 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 criteria 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, Ext. 270. © 2014 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.
4
JULY/AUGUST 2014
president’s
MESSAGE
Remaining Relevant What will it take?
A
s I looked through the window of the plane, I could see the clouds below me lightly covering the impressive mountains rising out of the Arizona ground. In the flat passes between the mountains, a river wound its way through the dry, brown soil. I was just leaving the AICPA Spring Council meeting in Scottsdale, where our CPA colleagues from throughout the nation met with President/ CEO Barry Melancon and his staff. Speakers engaged us in dialogue on the most important accounting topics we face today, intertwined with discussions about what our profession needs to stay relevant tomorrow. The topics are complex and I cannot do justice here to all the information we received at Council. So instead, here are links to more detailed material on some of the subjects, so you may read through them as time allows. AICPA 2014 Spring Council Agenda To view the complete agenda, visit www.ficpa. org/AICPASpringCouncil. • Future of Learning: Recommendations for Transforming Learning & Development for the Profession By Anthony Pugliese, senior vice president & chief operating officer and Lawson Carmichael, senior vice president – strategy, people & innovation To read a related article, visit www.journalofaccountancy.com/ News/201410139.htm. FLORIDA CPA TODAY
Deborah L. Curry, CPA, CGMA
• Assessing the External Environment and Table Discussions by Council on Strategic Implications for the Profession By Lawson Carmichael, senior vice president – strategy, people & innovation and Tommye Barie, vice chair of the board To read a related article, visit www.journalofaccountancy.com/ News/201410140.htm. As I peered down through the clouds, I reflected on how far my accounting degree has taken me from the days of journal entries and general ledgers. How was I to know my career would demand that I reach into the matters of business resiliency, knowledge management and international collaboration. Like the river that winds its way through the passes, so our accounting standards and regulations wind their way through the legislative and regulatory processes. And I wonder about the next accounting mountain that will rise out of the ground and challenge us to become even better and more relevant in the future. Thank you to our members who represented the FICPA at Council: Jeff Barbacci, 2014-2015 Chair Ken Strauss, 2013-2014 Chair Scott Price, 2012-2013 Chair Stam Stathis, 2011-2012 President Bethany Carr Joey Epstein Jim Thielen
FCT
www.ficpa.org
5
Meet the 2014-2015
From FICPA communications staff reports
FICPA Executive Committee The FICPA’s eight-member Executive Committee (EC) is comprised of FICPA Board Chair Jeff Barbacci and seven vice presidents. Deborah Curry, FICPA President/CEO, serves as secretary-treasurer 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 pressing issues and making a difference through the FICPA. This year, they agreed that one of the FICPA’s most important emerging challenges will be to recruit, retain and engage young CPA members.
ED DUARTE What do you think will be the most important emerging opportunities and/or challenges for Florida CPAs during the coming year? I believe one of the challenges for Florida CPAs is the continued understanding and use of technology. Technology is replacing the way we communicate. Today, we interact using state-of-the art tools. Social media’s impact on the way we do business and communicate is something we, as CPAs, need to embrace. Baby Boomers and Millenials need to work together to align the quality services each bring to the table to work effectively. One of the opportunities I see for Florida CPAs is the thriving business surrounding international consulting and compliance services. Whether they are subsidiaries of international companies located in the U.S.; Foreign Investment in Real Property Tax Act (FIRPTA) withholding exemptions; estate planning for cross-border families; or offshore voluntary compliance, CPAs are expanding into new markets and focused on growing their international clientele. In Miami, I’ve seen tremendous opportunities for growth in this sector.
ABBY DUPREE What do you think will be the most important emerging opportunities and/or challenges for Florida CPAs during the coming year? I think Florida CPAs will continue to face the same challenges during the coming year: 6
JULY/AUGUST 2014
• As the economy continues to come back, firms are competing for new staff and working hard to retain current staff to service their growing client base. • We will continue to face regulatory challenges. • Sole practitioners and smaller firms will be faced with deciding their exit strategy. • Firms that fail to keep up with the latest in technology will lag behind those that do. CPAs are intelligent, hard-working individuals and will continue to face their challenges head on!
PAULETTE HOLDER What do you think will be the most important emerging opportunities and/or challenges for Florida CPAs during the coming year? I think the most important challenges and or emerging opportunities for Florida CPAs are the same now as they’ve been the past several years: • Succession planning. I’ve read that most CPAs are older than 50. This presents a tremendous opportunity for our young CPAs, but not for those of us who want to retire in the next 10 years. • Staying up with emerging technology – weighing the cost versus the benefit of the latest and greatest – is always a challenge. • Hiring and retaining competent staff. • Keeping abreast of new regulations and laws to provide clients with the latest information and the most professional service possible.
Ed Duarte
Abby Dupree
W. G. Spoor
Paulette Holder
Maria A. “Mia” Thomas
CECIL “PAT” PATTERSON JR. What do you think will be the most important emerging opportunities and/or challenges for Florida CPAs during the coming year? I think the most challenging situations will be how CPAs handle the changing professional standard requirements.
W. G. SPOOR What do you think will be the most important emerging opportunities and/or challenges for Florida CPAs during the coming year? The compliance and tax issues surrounding the Patient Protection and Affordable Care Act will be a great challenge for all, while simultaneously creating many new opportunities for Florida CPAs – especially those in public practice. The compliance and tax issues will have a broad impact on CPAs in public and private accounting. Getting accurate and timely information from insurance companies will be essential with this ever-changing law. FLORIDA CPA TODAY
Cecil “Pat” Patterson Jr.
Alan West
MARIA A. “MIA” THOMAS What do you think will be the most important emerging opportunities and/or challenges for Florida CPAs during the coming year? Regulatory, tax code and technology changes will always be on the forefront of our profession.
ALAN WEST What do you think will be the most important emerging opportunities and/or challenges for Florida CPAs during the coming year? To me, the most important emerging challenge for Florida CPAs is incorporating new technology into our professional lives. Technology is constantly changing and our profession needs to adapt to these changes. We’re fortunate to have three generations of CPAs working side by side in Florida. However, we need to ensure that everyone is embracing new technology. This will facilitate our professional development. By embracing technology and incorporating it into our professional lives, we can help change the “bean counters” image. ➡ www.ficpa.org
7
Ed Duarte
Abby Dupree
Mallah Furman Miami
Carroll and Company, CPAs Tallahassee
Holder & Company, CPAs Lutz
• My best asset is: my drive and passion. • My dream vacation is: a trip to Australia. • Something that would surprise people about me is: I was a butcher during college. My friends called me Ed the Butcher. • If I weren’t a CPA, I’d be: a restaurant owner.
• My best asset is: my 15-year-old son. • My dream vacation is: at least two weeks on a tropical, sunny island with no scheduled commitments. • Something that would surprise people about me is: I am adopted. • If I weren’t a CPA, I’d be: bored and unhappy!
• My best asset is: forcing myself to do things outside my comfort zone and growing from those experiences. • My dream vacation is: I just came back from my dream vacation – my husband and I went on a photo safari in South Africa. We saw all the “big five” (Google it). • Something that would surprise people about me is: I’m one of triplet girls. One of my sisters is a CPA and one is an attorney. • If I weren’t a CPA, I’d be: an attorney. I love the law. That’s probably why I went into the tax department. Plus, I’d love to go up against my sister in a trial. Did I mention we’re very competitive?
Duarte is an audit senior manager with Mallah Furman in Miami and Broward. He has 14 years of experience covering a range of professional services including audit, accounting, financial reporting and consulting. Duarte has served clients in a broad spectrum of industries. He specializes in audits and business advisory services for distribution, manufacturing, real estate and health care.
Dupree has been with Carroll and Company, CPAs since 1994. She has been a tax partner since 2002 and currently is co-managing partner of the firm. She specializes in tax planning and preparation for individuals, businesses and non-profit organizations. She also specializes in state and federal campaign finance compliance consulting and reporting.
Holder founded Holder & Company, CPAs in 1987 in Lutz, Fla. (North Tampa). After working for a national firm for six years, she went out on her own.
Duarte is a member of the Board of Directors of the Live Like Bella Foundation; the Centro Campesino Farmworker Center; and the CubanAmerican CPA Association and Foundation. He is vice president of the Florida International University School of Accounting Alumni Affinity Council.
8
Paulette Holder
JULY/AUGUST 2014
Dupree graduated from Florida State University in 1992, became a CPA in 1996 and has been actively involved in the FICPA since 2002. She has served in each of the Tallahassee Chapter officer positions; as a member of the State Legislative Policy Committee; and as chair of the FSU Accounting Conference Committee. Beginning Oct. 1, she will serve as an FICPA representative on the AICPA Council. She is a graduate of Leadership Tallahassee Class 29 and a former board member of the North Florida Chapter of the Children’s Home Society. She has served as finance chair for Holy Comforter Episcopal School.
Holder has experience in tax and in accounting and auditing services. Her clients consist of individuals, small businesses and not-for-profit organizations. She has served on and chaired several FICPA Committees during the last 25 years and has served on the Institute’s Board of Governors for two years. Holder has been married for 42 years and has two children and two grandchildren. She loves football and traveling.
Cecil “Pat” Patterson Jr.
Patterson CPA Group, Inc. Ponte Vedra Beach
W. G. Spoor
Spoor + Associates, PA St. Petersburg
• My best asset is: my ability to work with others and think on my feet. • My dream vacation is: a trip to a remote wilderness lake for fishing and relaxing. • Something that would surprise people about me is: I love to work in my vegetable garden. • If I weren’t a CPA, I’d be: an architect.
• My best asset is: my analytical thinking. • My dream vacation is: anywhere with my wife and two children (Fiji would be nice). • Something that would surprise people about me is: I’m married to my high-school sweetheart. • If I weren’t a CPA, I’d be: an architect.
Cecil “Pat” Patterson Jr. is an awardwinning author, speaker and discussion leader for continuing education courses and numerous state societies. Patterson holds a bachelor’s degree in accounting and an MBA. He has been president of Patterson & Associates, PA for over 30 years. The AICPA has recognized the firm for its work in the “virtual office” field.
W.G. Spoor joined the Spoor + Associates, PA team in 1997. He became a principal in 2007 and is responsible for the firm’s domestic and international individual and entity tax practices. Spoor specializes in helping clients with tax compliance and consulting issues. He has extensive experience with business acquisitions, succession planning, retirement planning and representation before the IRS and the Florida Department of Revenue.
Patterson serves as chair of the FICPA Continuing Education Committee and is a member of the Board of Governors, CIRA Committee, Accounting Show Committee and MEGA Conference Committee. He has been named an FICPA Outstanding Discussion Leader and has received the FICPA’s Writing Excellence Award. He has also received the New York Society of CPAs’ Distinguished Discussion Leader Award.
Spoor earned a master’s in accountancy from the University of South Florida and a bachelor’s in accounting from Florida State University. He is a Personal Financial Specialist; Chartered Global Management Accountant; Registered Investment Advisor; and QuickBooks ProAdvisor. He is an AICPA member and has served on the AICPA Uniform Accountancy Act Committee. He serves on the FICPA Board of Governors. ➡
for continuing to be a part of the FICPA family.
How will you make the most of your investment?
www.ficpa.org/Benefits 109 Years and Counting
There’s still time to renew your FICPA benefits:
www.ficpa.org/Renew FLORIDA CPA TODAY
www.ficpa.org
9
Maria A. “Mia” Thomas
Alan West
Mia A. Thomas, CPA Orlando
University of Florida Gainesville
• My best asset is: my faith. • My dream vacation is: being with my family on a two-week or longer cruise – the destination could be anywhere. • Something that would surprise people about me is: I volunteer with orphans in Kenya. • If I weren’t a CPA, I’d be: The owner of a restaurant with an attached jewelry/gift shop. I’m also a part owner of a video-production company and I love brainstorming story boards that I’d love to someday produce.
• My best asset is: During my career, I’ve developed skills that allow me to help guide employees through their own professional development. • My dream vacation is: an historical tour of the Mediterranean. • Something that would surprise people about me is: I love to surf. I’m still learning, but I love it! • If I weren’t a CPA, I’d be: a lawyer with a goal of eventually serving as a justice on the Florida Supreme Court.
Thomas has provided accounting and tax services for over 29 years. Her clients include closely held businesses, not-for-profit associations, physicians, professional athletes and domestic and international individuals and companies. She performs due diligence, business plans and financial audits and reviews. She consults for non-profit boards on accounting and board governance. She is a frequent speaker for organizations on topics including income taxes; international tax issues; 1031 Exchange; financial accountability and strategic planning; and business etiquette and protocol.
West has been with the University of Florida (UF) since 2006. Currently, he is a senior associate controller and oversees the university’s treasury management and bursar functions. Previously, he was the controller for the UF Foundation. He is a member of the AIPCA.
Thomas is FICPA board chair-elect, chair of the FICPA Accounting Careers Committee and a trustee emeritus and past president of the FICPA Educational Foundation. She is a chapter director of the Central Florida Chapter and a director of the Florida CPA/PAC. Beginning Oct. 1, she will serve on the AICPA Council.
West worked in public accounting with James Moore and Company in Gainesville and has over seven years of public accounting experience throughout Florida. He earned two bachelor’s degrees from the University of South Florida and an MBA from Nova Southeastern University. He and his wife, Debra, have two children. FCT
Visit the FICPA website to read each Committee member’s complete bio.
10 JULY/AUGUST 2014
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/Content/ Members/Tools/ Publications/FCT/ Archives.aspx. 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.
WEB
digest
Third Party Verification Letters By CNA Accountants Professional Liability Risk Control
I
ncreasingly, CPAs are receiving requests from clients, lenders, loan brokers, health insurance providers, adoption agencies, regulators and various other agencies to confirm client information. The requested information may relate to a pending loan, employee medical insurance, child adoption applications or use-tax certification. Mortgages originated by private mortgage companies, which were resold to Fannie Mae and Freddie Mac and past due, are subject to required quality reviews. Quality review standards may require the mortgage originator to contact CPAs whose comfort letters are contained within the loan file to confirm the statements made in such letters. In most cases, CPAs are asked to provide a confirmation letter containing specific language, a verification statement, a comfort letter, or a certification form (collectively “Verification Documents”).
a down payment and closing costs for a home mortgage. Lenders or brokers are required to assess the borrower’s creditworthiness and verify the accuracy of information provided by the borrower. Nevertheless, in the case of a self-employed borrower, the means to obtain available financial information may be limited. By obtaining a comfort letter from a CPA, lenders or brokers may attempt to shift the responsibility for confirming the accuracy of the information – and possibly the risk of non-repayment of the loan – to the self-employed borrower’s CPA. If the self-employed borrower later defaults on the loan, the lender may raise the comfort letter received from the CPA, prior to funding the loan. The lender may then take the position that the representations made in the letter were a substantial factor in its decision to extend credit.
By providing such Verification Documents, a CPA may unintentionally violate professional standards. The CPA also may confront the risk of a malpractice claim in the event that a third party detrimentally relies on an alleged inaccurate statement made in a Verification Document.
As a result, the lender may be in a better position to recover loan losses by suing the CPA, alleging that it detrimentally relied on the negligent misrepresentation(s) made in the comfort letter. The comfort letter also may be used to establish the lender’s legal standing to sue the CPA where such standing may not otherwise exist.
This article will discuss the types of requests for Verification Documents that may be received by a CPA and how the CPA can respond to such requests, manage any associated risks, and comply with professional standards.
Requests from Lenders The most common type of request for a Verification Document is associated with mortgage loan applications of self-employed tax return preparation clients. Examples of information requested by lenders and loan brokers include: • Confirmation of a client’s self-employment status; • Verification of income from self-employment; • Verification of a self-employed borrower’s business ownership percentage; • Profitability or sustainability of a self-employed client’s business; and • The impact on a self-employed client’s business if money is withdrawn to fund the down payment on a real estate purchase. A self-employed borrower often uses business assets from a sole proprietorship, partnership or corporation to fund 12 JULY/AUGUST 2014
Such mortgages often are resold to Freddie Mac, which is a secondary market for residential mortgages. Historically, Freddie Mac’s Single Family Seller/Servicer Guide (the Guide) provided secondary market sellers with two methods for analyzing whether the withdrawal of business funds would negatively affect the ability of the business to continue operations. One of the methods described in the Guide was to obtain a comfort letter from an accountant stating, “[T]he Borrower has access to the funds and the withdrawal of the funds for the down payment and closing costs will not have a detrimental effect on the business.” The Single Family Selling Guide published by Fannie Mae, another secondary market for residential mortgages, does not contain similar guidance (seeSection B3-3.2-01 of the Fannie Mae guide, titled Underwriting Factors and Documentation for a SelfEmployed Borrower for the relevant guidance). In 2012, Freddie Mac revised the Guide by deleting the practice of obtaining a comfort letter from an accountant as a method of determining the impact of a withdrawal on a self-employed borrower’s business. Section 37.13(b) of the Guide, which is related to stable monthly income and asset qualification sources, now states that when
business assets are used for down payment and closing costs, financing costs, prepaids/escrows and reserves: • the assets must be verified in accordance with the documentation requirements in Sections 37.20 through 37.23; • the assets must be related to the business that the borrower owns that is documented in the mortgage file; • the seller of the mortgage is required to document a cash flow analysis for the borrower’s business using the individual and/or business tax returns, as applicable; and • the mortgage file must contain the seller’s written cash flow analysis and conclusions.
consultant or attorney attesting that the listed, eligible employees worked the minimum hours required under state law, and that the business is a bona fide business qualifying as a small employer under state law and health plan underwriting guidelines; and • Requests from state taxing authorities for a Verification Document from a CPA, enrolled agent or attorney certifying that the taxpayer and the “authorized representative” have reviewed the books and records of the taxpayer and determined that there is no use tax due or reportable. FCT To read this article in its entirety, and to view a sample response letter to a lender or broker, visit the FICPA’s website at www.ficpa.org/FCT/Technical.
While lenders and brokers have always been responsible for conducting their own due diligence prior to making a credit decision, the revision to the Guide places the burden of determining the impact on the ability of the business to continue operating as a result of the withdrawal solely on the lender or broker. If a self-employed borrower is informed that he/she will not qualify for a mortgage unless his/her accountant provides a comfort letter, accountants should challenge this assertion by referencing the fact that such guidance does not exist in either the Fannie Mae or Freddie Mac seller guides for residential mortgages.
Other Requests Recently, other types of Verification Document requests have emerged. Examples include: • Requests from adoption agencies and foreign countries for a Verification Document confirming the client’s selfemployment, citizenship status and the financial stability of the client’s business; • Requests from health insurance providers for a business Verification Document from a CPA, Certified Management Accountant (CMA), licensed tax FLORIDA CPA TODAY
www.ficpa.org
13
Association Fraud Living Large on Homeowners’ Dues
F
raud is defined as an instance of deceit or trickery perpetrated for profit or to gain some unfair or dishonest advantage.
Embezzlement is defined as an act to appropriate fraudulently for one’s own use. During the past several years, there have been substantial reports (and the prosecution) of fraudulent activities occurring at community associations. And this trend seems to be on the rise. News media have reported on multiple cases, including: • President of Sunrise, Fla. homeowners association accused of theft of $75,000 by transferring funds. April 15, 2014 – Sun Sentinel • Manager of Longboat Key, Fla. condominium convicted of fraud of $216,000 by depositing or cashing checks for personal gain. July 24, 2013 – Herald-Tribune • President of Pembroke Pines, Fla. condominium association accused of theft of approximately $150,000 by transferring funds. June 5, 2013 – Sun Sentinel • Board members of Estero, Fla. condominium association pled guilty to theft of $290,000 from the associations reserve funds. Feb. 13, 2012 – winknews.com • $1,000,000 embezzled from multiple Tampa, Fla. community associations by a bookkeeper. February 2010 – Tampa Bay Times This list is far from all inclusive. There are endless examples in print media and on T.V. newscasts and the Internet. Clients who’ve experienced fraud or embezzlement usually say the same thing: “We never thought they’d do that to us. We trusted them – they were like family.” In most fraud cases, the perpetrator is the most trusted individual or someone with a personal need. A lack of strong controls presents the opportunity, and a person who has a need commits fraud. Community associations may be more susceptible to fraud than other types of businesses for various reasons. Their
14 JULY/AUGUST 2014
By Percy Legendre, CPA and Guy Strum, CPA
membership structure often results in decentralized and absentee ownership – leaving governance and management to a select few, or to a management company. Also, they frequently aren’t viewed as true business, but as social clubs that don’t really have to establish and follow proper policies and procedures. Here are typical examples of fraud perpetrated in community associations, as well as suggestions to mitigate the risk.
Receiving Kickbacks from Vendors Perhaps the most common and costly type of association fraud is kickbacks from vendors. The manager and/or board members and vendor work in collusion, and the scheme usually involves larger contracts. The contract is approved at a higher cost than the vendor normally would charge, and the involved parties split the difference between what the vendor would have charged and the actual contract price. If the vendor is willing to do the work at a lower cost, the savings should go to the association – not to someone’s pocket. This may be the hardest type of fraud to uncover as there frequently is no documentation trail. Associations can speak with vendors, but they probably won’t be forthright. Obtaining a competitive, sealed bid on all major projects is a good policy and may be required in some cases.
Unauthorized Use of Credit/Debit Cards Credit and debit cards, although convenient, can be very tempting to employees who have them. Associations should reconcile statements to the individual receipts/invoices each month. Associations also should establish rules and limits for acceptable charges and amounts and may want to institute a purchaseorder system. ➡
Falsifying Payroll Records Associations that have employees either hire workers directly or lease them through a management company. These associations are susceptible to employees reporting hours they didn’t work, including overtime, which is compensated at time and one-half. Associations should establish procedures for the appropriate manager or governance member to meet regularly with employees. They should review job assignments and estimate how long projects should take. If overtime hours are anticipated, management should approve them in advance.
Writing Off Cash Receipts Associations are vulnerable to fraud if an individual is receiving cash payments and recording them in the association’s records. The individual has the ability to write off the assessment receivable and keep the cash. He or she also may do something similar with any rental income. Although many associations have a policy not to accept cash, those that do should have proper procedures for handling cash receipts. They also should have procedures to ensure that the board of directors approves all write offs. If an association has rental units, it should have detailed records for all leased premises to provide backup for the rental income and any related expenses. These are typical examples of community association fraud. Common characteristics include lack of segregation of duties, controls and oversight. The single most important element of mitigating fraud is establishing a proper system of management and controls.
Implementing Management Controls Professional management companies may provide associations with better segregation of duties than they’d
Mitigate the risk • Get a competitive, sealed bid on all major projects. • Reconcile credit- and debit-card statements each month. Establish rules and limits for acceptable charges and amounts, and use a purchase-order system. • Establish procedures for the appropriate manager or governance member to meet regularly with employees. Review job assignments and estimate how long projects should take. If overtime is anticipated, management should approve it in advance. • Associations that accept cash should have procedures for handling cash receipts. They also should have procedures to ensure that the board of directors approves all write offs. Associations that have rental units should keep detailed records of rental income and expenses.
16 JULY/AUGUST 2014
have if they hired their own managers. Management companies have accounting staff that have specific duties. They usually have separate departments for receivables, payables and general ledger. They frequently use a lockbox system with the association’s bank to minimize direct access to cash and checks for receivables. Associations that use professional management should perform due diligence to ensure they’re making the right choice. They should interview management companies, tour their accounting offices and ask other professionals about them. Self-management also is an option. Some associations are large enough to have their own accounting departments with properly segregated duties. Smaller associations will find this difficult and must concentrate more on controls and oversight. Most associations approve financial statements at their board meetings. As an added precaution, associations can make and vote on a motion to review and approve all disbursements that occurred since the previous board meeting. Ideally, at least two board members, in addition to the manager, should verify and approve all bills before payment. Associations should have an anti-fraud policy, preferably in writing. Make it clear to employees, vendors, owners and board members that it exists and will be enforced. Have accounting policies and procedures in place, preferably in writing, and make them clear to all. In addition to board and manager oversight, it’s vital for associations to retain a CPA to prepare their year-end financial statements in accordance with GAAP and the relevant Florida Statues. Not all CPAs are created equal. Associations should choose a licensed, Florida CPA who has experience in community association accounting and auditing. Associations also should choose a CPA firm that’s enrolled in the AICPA Peer Review Program. These firms are reviewed by another CPA firm to ensure their compliance with the appropriate standards. FCT Percy Legendre III, CPA is the managing partner with Bashor & Legendre in Tampa. He has over 25 years’ experience with CIRAs and is a member of the FICPA’s CIRA Committee. He provides auditing, review compilation, tax and consulting services to clients in the manufacturing, construction, nonprofit, wholesale and professional associations industries. Guy Strum is the sole shareholder of his own firm in Plantation. He is a past chair of the FICPA CIRA Committee, on which he has served since July 2000. Currently, he chairs the CIRA Committee’s Legislative Subcommittee. Strum’s practice provides services almost exclusively to CIRAs and he has lectured on the topic for many years.
Ignorance Isn’t Bliss Desperately Needed: CIRA Advisors By Jon Peet, CPA
M
illions of dollars are wasted every year unraveling accounting and legal issues relating to housing developments. The developers of these communities, or the homeowners left after the developers are gone, often bear these costs. Sadly, many of these issues could have been prevented with proper planning, consultation and coordination with the developer’s professionals. The planning, construction and operation of Florida housing developments is highly regulated by various Florida statutes and rules. These regulations are very technical and have significant financial impact. Developers and their advisors often ignore or misunderstand them. There are horror stories of the millions that developers have been forced to pay after they’ve turned over control of developments. But in my experience, most developers aren’t interested in cheating homeowners. Rather, they weren’t properly advised about the financial implications of certain provisions in the organizing documents created when the development was formed. In the case of a condominium, these provisions are contained in the Declaration of Condominium and the bylaws, and further are governed by applicable Florida statutes. Other types of community-living developments have similar organizing documents and regulations. These include homeowner associations, timeshare developments and cooperative associations. This article is intended to show how knowledge of accounting and regulatory requirements make CPAs ideal CIRA advisors for issues involving budgeting, reserves and developer financial obligation, all of which are related.
You can’t fix stupid Budgets and reserves The budget is the beginning of an association’s fiscal life. Bad budgets cannot be fixed with good accounting. Condominiums, cooperatives and timeshares are required to adopt an annual budget. The proposed budgets for condominiums and cooperatives must include provisions for reserves. The most common problems I’ve seen with 18 JULY/AUGUST 2014
budgets are failing to adopt an annual budget; failing to include reserves on the budget; omitting reserves for items that require them; and budgets that don’t provide for sufficient assessments to pay the common expenses. Condominiums are created when the Declaration of Condominium is recorded in the records of the county where the condominium is located. Since the most common fiscal year for associations is the calendar year, there most likely will be a short period for the first fiscal year. Although the budget presents the figures on an annualized basis, it may be in effect for a very short period. For example, if a Declaration is recorded Dec. 27, the fiscal year will end in five days and another budget will need to be prepared for the second fiscal year. This has a big impact on reserves, discussed later in this article. The developer guarantee often caps the level of assessments, and the assessments for the following year don’t increase and no budget is proposed or adopted for the second year. Failure to propose and adopt a budget during the period the developer controls the association exposes the developer to administrative fines, imposed by the Division of Florida Condominiums, Timeshares and Mobile Homes (the Division). The condominium and cooperative laws allow the developer, prior to turnover, to vote to waive reserves for the association’s first two fiscal years. Developers often are advised that they may unilaterally waive the reserves during this period, or that such period involves the first two full years of association operation. The Division’s position is that the developer is entitled to vote to waive reserves during the first two fiscal years, beginning with the year in which the Declaration is recorded. However, the association must propose and adopt a budget for each year, including a reserve analysis for each year. The reserves may be waived only at a duly called meeting of the association members. The developer is entitled to vote, but does not have a unilateral right to waive the reserves. In a guarantee situation, failure to properly waive the reserves exposes developers to administrative fines and to being required to fully fund
the reserves. In this case, the required remedial action likely will be far more expensive than the penalty. Reserve studies have become common in the industry. Additionally, a turnover inspection report identifying the required maintenance, useful life and replacement costs of certain common elements (Section 718.301(4) (p), Florida Statutes) must be provided at turnover. These two reports may disclose deferred maintenance items or capital replacements that were not included in the reserve section of the developer-controlled budgets. This has become a popular subject for post-turnover litigation. I am aware of cases where up to $1.2 million was sought from developers for failing to include reserve items in the budget. Again, the remedial action can be far more costly than the administrative penalties.
it difficult to raise the budget to sufficient levels as the owners may assert the right to adopt an alternate budget should the assessments increase more than 15 percent above the prior year’s assessments.
I owe you what? Developer financial obligation More than just budget and reserve pitfalls await developers. Bad debt, capital contributions, guarantees and “phantom” units also call for special knowledge and planning. Developers must either pay condominium assessments on a per-unit basis, as would any other unit owner. Alternatively, they may be excused from these assessments if they provide a guarantee that the assessments will
What can associations do to avoid this problem? First, many reserve studies and inspection reports are conducted without regard to the $10,000 reserve threshold provided in the statutes and administrative code (Section 718.112(2)(f)2., F.S. and Rule 61B22.005(1), Florida Administrative Code, respectively). Often, separate components, each of which are less than $10,000, are combined and reported as a single component with a cost in excess of $10,000. Second, most of the studies I’ve seen used inflated cost estimates when the statute does not require inflation to be considered. It simply is not in the developer’s interest to use inflated costs. Section 718.112 (2)(g), F.S., provides that assessments shall be made in an amount which is not less than that required to provide funds in advance for payment of all anticipated operating expenses, and for all unpaid operating expenses previously incurred. This means associations must balance the budget. Absent a developer guarantee, association deficits often are carried by loans. In these cases, the Division typically calculated what the developer would have paid in assessments had the budget been equal to the actual expenses, and required payment of that amount, along with penalties. Had there been a guarantee, there would not have been a deficit. However, the association would have found FLORIDA CPA TODAY
not increase for a stated period, over a stated amount. Developers have a few options, such as providing for increased assessments during separate intervals, or extending the guarantee for one or more stated periods. One common problem with guarantees is that the guaranteed amount fails to take into consideration that the reserves might not be waived. Consider a situation where the initial monthly assessment is $475 including reserves, but $300 if reserves are waived, and the guaranteed amount is $300. Also, during the second year the reserves were not properly waived, and the guarantee still was in effect. At this point the reserve requirements ➡ www.ficpa.org
19
are likely to be greater than presented in the initial budget as the items have aged. However, no funds were set aside as the reserves were waived the first year. The association cannot charge more than $300 per month and the reserves must be fully funded under the guarantee. Developers can plan for this by having the guarantee amounts incrementally increase each year to cover inflation and the projected reserve funding. In a case in the panhandle region after the storms of 2004, the water hookup fee ($45,000) was described in the Declaration as a common expense, but exempt from the guarantee. The developer couldn’t have it both ways, and in the end, paid it along with the penalty. Bad debt has been one of the most difficult issues to explain to developers and associations. You still see boiler-plate language in the notes, explaining that there’s no allowance for bad debt because the association has the right to lien the unit and recover the unpaid assessments.
Table 1 shows some of the cases I’ve been involved with, and the magnitude of the errors. Table 1 Issue Phantom units Misapplied statute to guarantee Unfunded or underfunded reserves Allocation of expenses Bad debt excluded from guarantee Capital contributions used during guarantee Improperly excused from assessments
Amount of Error $980,000 $350,000 $1,200,000 $87,000 $340,000 $275,000 $80,000
But what happens when the parcel is underwater, and the owner has no equity? The owner may walk away, the lender has a safe harbor limiting exposure to the previously unpaid assessments, and the other owners in the condominium become responsible for the bad debt. This usually is accomplished by including a bad-debt line item in the budget. Developers often don’t understand why bad debt, a noncash expense, is being charged to the guarantee. They often fail to realize that the guarantee formula gives credit for the assessments charged, even if they aren’t collected. I’ve seen many cases in which the condominium declaration attempted to exempt the developer from bad debt. 20 JULY/AUGUST 2014
Capital contributions collected from purchasers at the time the developer initially sold the unit create special problems. Under section 718.116(9), F.S., capital contributions to the association cannot be used to pay for common expenses during the guarantee period. As with bad debt, I’ve seen many documents that purported to allow the use of capital contributions during the guarantee to reimburse the developer for common expenses the developer paid, or for a myriad of reasons. I am not aware of any cases in which the developer prevailed against the Division regarding these tactics. Phantom units are created when the Declaration of Condominium is recorded, but not all the units were constructed. I’m aware of some cases in which the developer was not obligated to pay assessments on these units. However, the Division’s position is that the obligation for assessments starts when the units are created by recording the Declaration. In a guarantee situation this is a big problem, but absent the guarantee it could be very expensive for the developer. I’ve seen some cases where a developer was unable to complete a project and conveyed the unbuilt units to the association as they couldn’t be sold until constructed. However, assessments continued to accrue after the guarantee expired. In one case the developer obtained a partial termination of the condominium to eliminate the unbuilt units, but had to come current in the amount of $350,000 that had accrued on the units to make the settlement with the association. In this case, the developer retained the property, to be developed when the market improved. Another case involved a condominium with more than 600 units, about half of which hadn’t been constructed. The developer didn’t want to give up on the project but needed a lot of help to transition the association from a full build-out budget to an estimated-expenses budget, including reserves on the common elements that had been constructed. The budget, reserve and developer financial obligations are complex, highly interrelated and part of a statutory framework. This presents opportunities, other than traditional accounting services, about which many CPAs are uniquely qualified to provide advice. FCT Jon Peet, CPA opened a consulting practice in 2011 after a career in government service. He recently completed a term, to which Gov. Rick Scott appointed him, on the Community Association Living Study Council. In 2010, Peet received the FICPA’s Outstanding CPA in Government Award. He currently serves on the FICPA’s CIRA Committee (formerly CIRA Section).
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page I
Sept. 17-19, 2014 Broward County Convention Center | Ft. Lauderdale
ficpa.org/annual
I
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page II
+
your requirements
➜
what this show is all about
your specific needs
We’ve got our CPE scientists on the job. They’re fusing today’s soughtafter sessions with the practical topics that drive your business and career. Don’t forget nationally-recognized instructors, the Annual Accounting Show’s signature element. You’re the catalyst. Earn up to 23 hours of CPE, including the muchanticipated Keynote presentation from William Reeb, “15 Essential Areas to Address in Your Succession Plan.” Get customized advice on your plan with in-depth, small-group consulting sessions to follow. Choose from multiple registration options to reach equilibrium with your schedule and budget.
New!
Practice Succession Consulting with Bill Reeb
Receive customized and directed advice on your succession plan in these three sessions. Each intimate session will be limited to no more than 15 members. Visit www.ficpa. as location, times and price becomes available.
www.facebook.com/ FloridaInstituteofCPAs
II
#AnnualShowFICPA
linkedin.com/company/ florida-institute-of-cpas-ficpa
bit.ly/PlusUs
pinterest.com/IAmACPA
instagram.com/ficpa
www.ficpa.org/ AnnualShow 29th annual accounting show
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page III
Agenda at-a-glance
ficpa.org/annual
Wednesday
9/17
7:30 a.m.
Registration/Check-in
8:10-11:45 a.m.
Ethics: Protecting the Integrity of Florida CPAs
12:45-1:35 p.m.
General Sessions/Keynote
1:45-5:15 p.m.
CPE Sessions
Thursday
9/18
7:30 a.m.-12 p.m.
Registration/Check- in
7:30 a.m.-6 p.m.
Vendor Showcase and Tradeshow Networking
8:15-10:15 a.m.
General Session/Keynote Address
11 a.m.-12:40 p.m.
CPE Sessions
12:40-1:40 p.m.
Lunch and Tradeshow Networking
1:40-4:50 p.m.
CPE Sessions
4:30-6 p.m.
Cocktail Reception and Tradeshow Networking
Friday
9/19
8-11:10 a.m.
CPE Sessions
8:30 a.m.-1 p.m.
Vendor Showcase and Tradeshow Networking
11:10 a.m.-12:45 p.m.
Lunch and Tradeshow Networking
12:45-4:20 p.m.
CPE Sessions
III
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page IV
Wednesday
Sept. 17
Ethics Course (4 Ethics) 8:10-11:45 a.m.
A1
Ethics: Protecting the Integrity of Florida CPAs (4 E)
C3
Industry (4 TB) 1:45-2:35 p.m.
Bankruptcy 101 (1 TB) Noel Boeke
Cecil Patterson, Jr., CPA, MBA
Law Partner | Holland & Knight
Patterson CPA Group, Inc.
General Session (1 TB) 12:45-1:35p.m.
B1
2:35-3:25 p.m.
Dave Levine, CPA, CGMA President | High Road Management, Inc.
Keynote Address: On Being a Consultant (1 TB) Ed Kless
3:35-5:15 p.m.
Senior Director, Partner Development and Strategy | Sage
Florida Real Estate: The Next Boom or Bubble? (1 TB)
How to Put Together a Successful Loan Package (2 TB) Stewart Appelrouth
C1
A&A (4 AA) 1:45-3:25 p.m.
Big GAAP/Little GAAP FRF for SMEs (2AA) Partner | Mark Brechbill, PLLC
1:45-2:35 p.m.
Keith E. Johnson, CPA, P.A.
Patterson CPA Group, Inc.
2:35-3:25 p.m.
Steven Morrison, CPA Director | Morrison, Brown, Argiz & Farra, LLC
C2
1:45-2:35 p.m.
Multi-State Tax Issues (1 TB) Joseph C. Moffa, Esquire, CPA Managing Partner | Law Offices of Moffa, Gainor & Sutton, PA
2:35-3:25 p.m.
Quickbooks for CPAs (1 TB) Mario Nowogrodzki, CPA/CITP
Special Reporting Framework Update (OCBOA) (1 AA)
Tax (1 AA/3 TB)
Excel for Audit Workpapers (1 AA) Keith E. Johnson CPA, CIA
Compilation and Review (1 AA) Cecil Patterson, Jr., CPA, MBA
4:25-5:15 p.m.
C4
Technology (3 TB/1 AA)
Mark Brechbill
3:35-4:25 p.m.
Director of Business & Entrepreneurial Services Appelrouth Farah & Co.
Principal | Mendelson Consulting
3:35-4:25 p.m.
Disruptive Technologies: Catching the Wave (1 TB) Gregory L. LaFollette, CPA, CITP, CGMA Strategic Advisor | CPA2Biz
4:25-5:15 p.m.
50 Technical Apps in 50 Minutes (1 TB) Dave Bergstein Strategic Account Manager | Intuit
Florida State Tax Update — The Craziness Continues (1 TB) Joseph C. Moffa, Esquire, CPA Managing Partner | Law Offices of Moffa, Gainor & Sutton, PA
3:35-5:15 p.m.
Fiduciary Accounting/Tax Compliance (1 AA/1 TB) Vicki H. Meyer, CPA President/Owner | Meyer Consulting, PLLC
IV
29th annual accounting show
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page V
Thursday 7:30 a.m.-12 p.m.
Sept. 18
Registration
Practice Management (2 TB)
D1
General Session (1 TB) 8:15-9:15 a.m.
11-11:50 a.m.
E4
Risk Management – Client Acceptance, Retention Issues (1 TB) Duncan B. Will, CPA/ABV/CFF, CFE
Keynote Address: Profession Update (1 TB)
Loss Prevention Manager and Accounting & Auditing Specialist | Camico
Tommye Barie Partner | Mauldin & Jenkins, LLC
11:50 a.m.-12:40 p.m. Adding Litigation Support to Your Practice
General Session (1 TB) 9:15-10:15 a.m.
(1 TB)
D2
Jeanette Payne, CPA MBA ABV Partner | Dugas & Dugas, CPA PA
Keynote Address: 15 Essential Areas to Address in Your Succession Plan (1 TB) William Reeb, CPA, CITP, CGMA Chief Executive Officer | The Succession Institute, LLC
1:40-3:20 p.m.
E1
A&A (2 AA) 11-11:50 a.m.
ASC 740 — Disclosures and Other General Topics (1 AA) Manuel E. Pravia, CPA. MST
Partner | Mark Brechbill, PLLC
4-4:50 p.m.
Fresh Start Accounting (1 AA) Ed Grossman, CPA, CFE, CMA, CGMA Proprietor | J. Edward Grossman, CPA
Fair Value Accounting Update (1 AA)
Business Tax (1 AA/1 TB) 11-11:50 a.m.
Leases – Okay, So What Are We Doing Now? (2 AA) Mark Brechbill
Principal | Morrison Brown Argiz & Farra, LLC
11:50-12:40 p.m.
F1
A&A (3 AA)
E2
F2
Tax (3 TB) 1:40-2:30 p.m.
Taxation of Foreclosures and Short Sales (1 TB) Larry Heinkel, Esquire
Accounting for LLC-Adapting Partnership Accounting to LLC (1 AA)
Tax and Bankruptcy Attorney | Heinkel Law Group, P.L.
Mark Brechbill Partner | Mark Brechbill, PLLC
3:05-3:55 p.m.
Trust Planning from A to Z (1 TB) Alan S. Gassman
11:50 a.m.-12:40 p.m. Taxation of Stock Options (1 TB)
Attorney | Gassman Law Associates, P.A.
Vicki H. Meyer, CPA President/Owner | Meyer Consulting, PLLC
E3
Fraud (2 AA) 11-11:50 a.m.
3:55-4:45 p.m.
Estate Planning – Wealth Protection in Contemplation of Death (1 TB) Thomas O. Katz Partner | Katz Baskies LLC
Causes of Fraud (1 AA) Odalys Z. Lara, CPA, CVA, MAFF, CFF Lara & Weidman Forensic CPAs P.A.
11:50 a.m.-12:40 p.m. Ponzi Schemes and Other Scams (1 AA) William M. Sharp, Esquire Sharp Partners, PA
ficpa.org/annual
V
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page VI
Thursday
(continued)
Elder Planning Issues (3 TB) 1:40-2:30 p.m.
F3
G1 GAAS Update (1 AA)
William Cummings, CPA/PFS
Bruce A. Nunnally, CPA, CGMA
President | Cummings Financial Organization and
Partner | Carr, Riggs & Ingram, LLC
8:50-9:40 a.m.
Attorney & Counselor Law | Law Offices of Robert S. Walton, PL
COSO Report – Using Cloud Computing (1 AA) Scott G. Price, CPA, CFF, CISA, CIA Managing Director | A-lign CPAs, LLC
Power of Attorney and Incapacity Issues (1 TB) Sherri Greenblatt, Esquire
10:20-11:10 a.m.
Attorney | Florida Elder Law Concepts, P.A.
3:55-4:45 p.m.
Sept. 19
A&A (3 AA) 8-8:50 a.m.
The Unexpected Caregiver (1 TB)
Robert Walton
3:05-3:55 p.m.
Friday
Value Proposition for Internal Controls-Integrated Framework by COSO (1 AA) J. Stephen Nouss Chief Consulting Officer | Berkowitz Pollack Brant Advisors and Accountants
Elderly Exploitation: Building a Criminal Case (1 TB) Richard Sherman, Jr. Assistant State Attorney | Office of the State Attorney, 17th Judicial Circuit of Florida
Financial Planning (3 TB) 1:40-2:30 p.m.
G2
International Tax (3 TB)
F4
8-8:50 a.m.
Update on US and Foreign FACTA-The Good (If Any), The Bad (Mostly) and The Ugly (Think Coyote) Denis Kleinfeld
How CPAs and Lawyers Work Together to Protect a Client's Business and Personal Assets (1 TB)
Of Counsel | Fuerst Ittleman David & Joseph PL
Denis Kleinfeld Of Counsel | Fuerst Ittleman David & Joseph PL
9:40-10:30 a.m.
Inbound and Outbound Transactions (1 TB) Leslie Share, Esquire
3:05-3:55 p.m.
Adding Finanical Planning to Your CPA Practice (1 TB) James Luffman, CPA/PFS
Shareholder | Packman, Neuwahl & Rosenberg P.A.
10:30-11:20 a.m.
Vice-President | CPS Investment Advisors
3:55-4:45 p.m.
How to Avoid Criminal Exposure in the New Regime of IRS Account Compliance Reporting Requirements (1 TB ) Mitchell S. Fuerst, Esquire
DOMA – Deciphering the Rights of Marriage Equality (1 TB)
Managing Partner | Fuerst Ittleman David & Joseph PL
Richard Millstein Partner | Akerman, LLP
4:30-6 p.m.
Reception
G3
Not For Profit (2 AA/1 TB) 8:15-9:05 a.m.
Not for Profit Update (1 AA)
9:45-10:35 a.m.
Due Diligence for NFP Board Members (1 AA)
10:35-11:25 a.m.
Tax Issues for NFP (1 TB) David C. Moja, CPA National Director NFP Tax Services CapinCrouse LLP
VI
29th annual accounting show
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page VII
G4
Technology (3 TB) 8:15-9:05 a.m.
9:45-10:35 a.m.
Yellow Book (4 AA) 12:45-2:25 p.m.
Pros and Cons of Virtual Offices (1 TB)
GASB Update (2 AA)
Cecil Patterson, Jr., CPA, MBA
Lisa R. Parker, CPA
Patterson CPA Group, Inc.
Project Manager | Governmental Accounting Standards Board
Expanding Your Client Services Using the Cloud (1 TB) Chris Fraser, CPA, CISA, CITP, MCP, MBA
2:40-3:30 p.m.
Audit Manager | Moore Stephens Lovelace, P.A.
3:30-4:20 p.m.
Mobility and Security: Can You Have Both? (1 TB) Paul Hoffman, CPA, CITP, CGMA
Yellow Book Update (1 AA) Joel A. Knopp, CPA
Principal | Fraser Company
10:35-11:25 a.m.
H3
Single Audit Update (1 AA) William Blend, CPA, CFE Shareholder | Moore Stephens Lovelace, P.A.
President | SouthTech
H1
A & A (4 AA) 12:45-1:35 p.m.
12:45-1:35 p.m.
Principal | Laminar Advisors
Proprietor | J. Edward Grossman, CPA
1:35-2:25 p.m.
Managing Director | Hudson Robillard & Company, LLC
Carl Pacini, PhD, JD, CPA, CFF Associate Professor of Accounting | University of South Florida – St. Petersburg College of Business
Pensions (1 AA)
3:30-4:20 p.m.
Peer Review Update (1 AA)
Asset Based Lending-The Basics (1 TB) Hudson Robillard
Revenue Recognition (1 AA)
2:40-3:30 p.m.
Is a Part-Time CFO an Option? (1 TB) Joseph Wiendl, CFA, CPA
GAAP Update (1 AA) Ed Grossman, CPA, CMA, CFE, CGMA
1:35-2:25 p.m.
H4
Industry (4 TB)
2:40-4:40 p.m.
HR Compliance Issues Update (2 TB) William deMeza Partner| Holland & Knight
Dan Hevia, CPA Shareholder | Gregory, Sharer & Stuart, PA
H2
Tax (4 TB) 12:45-1:35 p.m.
Individual Tax Update (1 TB) Jeff Greene, CPA, PFS Individual Practitioner | Jeffrey H. Greene, CPA, PA
1:35-2:25 p.m.
Business Tax Update (1 TB) Jeff Greene, CPA, PFS Individual Practitioner | Jeffrey H. Greene, CPA, PA
2:40-4:20 p.m.
Affordable Health Care Update (2 TB) Kim Griffin-Hunter Partner | Deloitte & Touche LLP
ficpa.org/annual
VII
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page VIII
2013-2014 Committee Poornima Srinivasan, Chair Randee M. Abramson Lynn H. Clements Joseph T. Cote Richard M. Dotson Gary A. Fracassi Lucinda L. Gallagher John G. Gould Paulette M. Holder Paul F. Imboden Denis A. Kleinfeld James M. Luffman Roger L. Michels Mario R. Nowogrodzki Pat Patterson Hudson Robillard Richard L. Shapiro Barbara S. Withers
VIII
29th annual accounting show
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page IX
Vendor Showcase Exhibit Hall – Open to the public Outstanding vendors Exciting prize giveaways Easy access to e-mail at the FICPA Internet Café Get in your element with the 29th Annual Accounting Show Vendor Showcase, featuring an energetic selection of resources from choice accounting and business vendors. Give your business a positive charge with the latest tools, technologies and services available for the industry; discover solutions that increase your productivity and ROI; have a blast with our prize giveaways; and cool off with refreshments in the lounge. The Vendor Showcase is your periodic table for business needs: • Accounting software • Financial services • Office supplies and services • Outsourcing services • Payroll providers • Professional employer organizations • Publications • State agencies • And much more For a current list of exhibitors, visit our website at www.ficpa.org.
ficpa.org/annual
IX
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page X
Accounting Show Info CPE Credit The 29th Annual Accounting Show® qualifies for up to 23 hours of CPE credit, subject to approval by the Department of Business and Professional Regulation. The type of credit depends on the tracks/days chosen. Please indicate choice of tracks on the registration form.
CPE Policies You May Need To Know A list of CPE policies may be found on our website at www.ficpa.org/cpe/policies or on the confirmation sent upon completion of registration.
Conference EZMaterials
Greater Ft. Lauderdale/Broward County Convention Center 1950 Eisenhower Blvd. Ft. Lauderdale, FL 33316 (954) 765-5900
Accommodations Hilton Ft. Lauderdale Marina 1881 SE 17th St. Ft Lauderdale, FL 33316-3015 (954) 463-4000 Room Rate: $119 Single/Double Hotel Cutoff Date: Wednesday, August 27, 2014
Are you using all of the FICPA Conference EZMaterials advantages? • Available in Advance – Download the EZMaterials PDFs to your laptop, tablet or other device seven days before the event. • Searchable – Save time by jumping right to a subject – no more flipping through pages or reading extra. • Portable –Upload your materials to the cloud or save to a flash drive and access anywhere. • Green – Help preserve our beautiful planet by saving paper. More convenient, greener and so much EZer.
Group Discounts Available Register five or more people from the same organization and receive special group discounts! Restrictions may apply. For more information, visit www.ficpa.org/policies.
Did you know? You can apply your nonmember fee from this event towards an FICPA membership. Visit www.ficpa.org/policies for more details and an application.
Reservations made after the cutoff date will be subject to availability and current room rate. Please call the hotel directly to reserve your room.
X
29th annual accounting show
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page XI
Registration ✁
Registration Options Please select one of the following registration options. Prices listed are per person.
Ethics Course Sept. 17 (4 hours of Ethics CPE)
Early Bird Fee: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$99 Regular Fee (as of Sept. 7, 2014): . . . . . . . . . . . . . . . . . . . . . .$154 Additional Nonmember Fee: . . . . . . . . . . . . . . . . . . . . . . . . . . .$65
Wednesday Afternoon, Sept. 17 (Up to 5 hours of CPE with Keynote Address)
Early Bird Fee: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$170 Regular Fee (as of Sept. 7, 2014): . . . . . . . . . . . . . . . . . . . . .$225 Additional Nonmember Fee: . . . . . . . . . . . . . . . . . . . . . . . . . . .$65
Wednesday Afternoon-Friday, Sept. 17-19
Four Ways to Register Internet www.ficpa.org/cpe Fax (850) 681-2433 Call (800) 342-3197 or (850) 224-2727 Mail Continuing Professional Education, FICPA, P.O. Box 5437, Tallahassee, FL 32314-5437
Volume discounts available!
(Up to 19 hours of CPE with 2 Keynote Addresses and Reception)
Early Bird Fee: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$315 Regular Fee (as of Sept. 7, 2014): . . . . . . . . . . . . . . . . . . . . .$370 Additional Nonmember Fee: . . . . . . . . . . . . . . . . . . . . . . . . . .$165
Register at least five people at the same time from the same firm or organization and receive 15 percent off the registration fee. Register eight or more and save 20 percent.
✁
Thursday-Friday, Sept. 18-19
Contact Information
(Up to 14 hours of CPE with Keynote Address and Reception)
Name
Early Bird Fee: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$245 Regular Fee (as of Sept. 7, 2014): . . . . . . . . . . . . . . . . . . . . . .$300 Additional Nonmember Fee: . . . . . . . . . . . . . . . . . . . . . . . . . .$125
FICPA Member No. Firm
Keynote Address Only: N/C
Address
(For security purposes, a badge is required for admission to Keynote Address)
City/State/ZIP
Wednesday, Sept. 17 (12:45-1:35 p.m.) Thursday, Sept. 18 (8:15-10:15 a.m.)
Telephone (
)
CPE Track Selection
Check here if registration reflects an address change. In accordance with ADA requirements, if you are disabled and require special services, please check here. Someone from our office will contact you.
Please select one track or N/A per line per registered day.
Wednesday Afternoon, Sept. 17 Ethics Keynote Afternoon
A1 B1 C1
N/A N/A C2
C3
C4
N/A
D1 E1 F1
D2 E2 F2
E3 F3
E4 F4
N/A N/A
G1 H1
G2 H2
G3 H3
G4 H4
N/A N/A
Thursday, Sept. 18 Keynote Morning Afternoon
Method of Payment Check enclosed in the amount of $ Please charge my company-issued credit card: Please charge my personal credit card: VISA MasterCard American Express
Friday, Sept. 19
✁
Morning Afternoon
.
Discover
Card Validation Code: (3 or 4 digit code located on the credit card)
Keynote Address Only
Cardholder Name
Name 1
Signature
Name 2
Exp. Date
(For security purposes, a badge is required for admission to Keynote Address.)
The FICPA is not responsible for checks or registrations delayed or lost in the mail.
ficpa.org/annual
XI
29th Annual Show Short Brochure_Layout 1 6/20/14 10:50 AM Page XII
www.ficpa.org/cpe
XII
(800) 342-3197
(850) 224-2727
29th annual accounting show
COVER
story
Staying the Course Jeff Barbacci Serves as 87th Board Chair By Suellen Wilkins, Florida CPA Today editor
T
he year 2014 is full of milestones for Jeff Barbacci. He’ll celebrate 20 years of CPA licensure in September and 20 years of FICPA membership in December. In July, he began his 20th year of marriage to his wife, Emily. And on July 1, he began his year of service as the Institute’s 2014-2015 Board Chair.
“The biggest lesson I’ve learned is that most everyone is trying to do their best,” Jeff said. “It’s important to treat our clients and co-workers with respect and remember that we can learn as much from them as they can from us.” Jeff and Emily have two sons, Dominic who is 10 and Anthony, who’s 8. Jeff also has a grown son, Shea. The family is involved with their church and in scouting, sports and volunteer activities.
Jeff, a shareholder at Thomas Howell Ferguson PA in Tallahassee, has served on 28 FICPA committees and sections. He chaired many of those and was the first chair of the Institute’s Young CPAs Committee. He has been a member of the Institute’s Board of Governors for 10 years and has served as an FICPA representative on the AICPA Council. He has spent countless hours educating CPAs who work for not-for-profit organizations about auditing and preventing fraud.
Photo by TREW Media
Jeff catches up on work on 22 JULY/AUGUST 2014
It isn’t easy, he said, to balance professional life with family. “There are a lot of demands on our time so it takes coordination and teamwork,” Jeff said. “Emily and I respect each other’s professional goals and we collaborate
Inc.
e.
ell Ferguson in Tallahasse
the balcony at Thomas How
Jeff hits a chip shot on the ninth hole at Golden Eagle County Club in Tallahassee.
to make our schedule work. I couldn’t do half the things I do without her support at home.
Jeff’s wife, Emily, is from Danville, Va. They met while attending Stetson.
“It also takes coordination and teamwork at the office,” he said. “I have a great team and we help each other manage schedules and deadlines. Just like at home, I couldn’t be nearly as involved as I am without my colleagues’ help and support.”
“I was in the second semester of my graduate year and she was a second-semester freshman,” Barbacci said. “Needless to say, she was smitten from the start!”
Family matters Jeff grew up in the North Hills area of Pittsburgh, Pa. He earned his bachelor’s degree in accounting in 1991 and his master’s of accountancy in 1992, both from Stetson University in DeLand. “I enjoyed business and I’ve always had an entrepreneurial spirit, but I didn’t know what business major to pursue,” Barbacci said. “My father is a CPA and used any 10-minute window (captive or otherwise) to teach me accounting basics. By the time I got to high school, I was pretty comfortable with it and did well in my first official accounting class. “My father taught me that accounting was the foundation of any business, so no matter what I ended up doing, having an accounting degree would help. When it came time to declare a major, I decided to go with it. Luckily, it came pretty easily to me.”
Emily has been teaching for 18 years and currently teaches 11th grade U.S. history at Chiles High School. In 2010, she was nominated as Chiles’ teacher of the year. She then was selected as Leon County teacher of the year and as a top-five finalist for Florida teacher of the year. “No matter where we go in Tallahassee, former students stop us to tell us what a great teacher she is, and how she’s influenced their lives,” Jeff said. “I’m very proud of her.” Dominic plays soccer and Anthony plays soccer, baseball and flag football. Both are in Cub Scouts, so the Barbaccis squeeze in camping trips, pinewood derby and other activities between sports. Emily serves as the den leader for Anthony’s Weblos den and Jeff is the treasurer for the Pack. ➡
Photo by TREW Media Inc.
Jeff and Emily hike the nar
rows at Zion National Par
FLORIDA CPA TODAY
k in Utah. www.ficpa.org
23
COVER
story
Shea is a student at the University of Central Florida, majoring in English literature. “Shea is an amazing young man with a variety of hobbies including music, cars, motorcycles and writing. He recently set up a recording studio and is editing a magazine in Daytona. He’s very ambitious and has a great entrepreneurial mind. I’m excited to see what the future holds for him,” Jeff said. “The best thing about having kids is watching them grow and seeing their personalities develop,” Jeff said. “Dominic and Anthony are already so independent. I love being with them when they experience things for the first time. We’re taking them to Yellowstone this year – it will be their first time out west. I’m more excited about seeing them experience it than I am about the trip. “The hardest thing is giving them the freedom to make mistakes, and not forcing advice on them when they refuse it. It’s hard to believe how fast time goes by and
how little time we get to spend with them before they’ll be on their own. As a parent, you want to pack them full of knowledge while you can.” Their “trial run to having children,” Jeff said, is their miniature dachshund, Bella. Now 13, Bella is a big part of the Barbacci family. “They say pets are a lot like their owners, but it isn’t true with Bella,” Jeff said. “She’s so hard headed and stubborn, and I obviously am not!”
Working on work-life balance Jeff said that since his career began, the pace at which people work has changed significantly. “Technology has really blurred the lines between our professional and personal lives. We’re always accessible and always working,” he said. “It’s important to disengage and recharge, even if it’s only for a short time.” Jeff tries to make time to play golf once a week, which is a great stress reliever, he said. He’s been playing with a core group of friends for over 10 years. They’ll play in a Ryder Cup event this summer and are planning their “dream golf trip” to Ireland in 2015. Jeff and Emily enjoy traveling and try to take a memorable vacation every year. They’ve driven up the California coast, hiked Mt. St. Helens, whale watched in Maine and driven the perimeter of British Columbia. They’ve visited the Mayan ruins in the Yucatan, ridden mules down the Grand Canyon and cruised around the coast of Italy. For Emily’s 40th birthday last year they visited Chicago, then flew west to hike the narrows at Zion National Park and repel in the slot canyons. “Our motto on those trips is no regrets,” Jeff said. As a result, we’ve shared some amazing times together.” Jeff attributes his success to the life lessons he learned from his parents.
Photo by TREW Media
rch and other
y with sports, scouting, chu
Jeff and his family stay bus activities. 24 JULY/AUGUST 2014
Inc.
“It sounds cliché but my parents have been my role models. I have a great relationship with both of them. My father has always loved to give advice, and amazingly, it’s turned out to be pretty accurate during the years! I think I get my competitive spirit from my mother. She taught me how to bowl and golf, and to give 100 percent in everything I do. I’m the youngest of four kids and I appreciate the sacrifices she made to raise us, and to keep us on the straight and narrow.” FCT
Photo by TREW Media Inc.
Back to Business What kind of person does it take to successfully serve as the FICPA’s Board Chair? Becoming Chair is a long process, so it takes someone who’s committed to the profession and willing to spend time learning its different aspects. FICPA volunteer leaders have to balance members’ interests with longterm strategies for the profession, and they sometimes conflict. Many members weren’t in favor of mandatory peer review for licensure, but we had to have it to achieve individual and firm mobility between states. Many FICPA committees and task forces vetted the issue before bringing it to the Board as a legislative policy. I’m confident that our process was a good one and that it will benefit our membership. A Chair can’t be successful without the collective effort and support of a strong group of people. The Chair just helps keep everyone on task and hopefully provides some vision along the way.
What have you enjoyed most, and what’s the most difficult thing, about being in FICPA leadership? Each time I served on a committee, I learned from the experience and from the people with whom I served. I can be strong minded, but I’ve tried to be as open minded as possible throughout my FICPA volunteer experience. I try to remember the member’s point of view in every discussion. The most difficult part is balancing members’ interests with the development of the profession. It’s changing quickly and becoming more technical every year, so we face this challenge with increasing frequency. I wish all members would volunteer for just one year to better understand that dynamic of that process.
Tell us about your experience as the first chair of the FICPA’s Young CPAs Committee. FICPA Past President Winston Howell created a task force to explore the need for the committee. I served on the task force and was excited when the Board of Governors embraced the concept. When I was asked to serve as chair I was nervous because I had no road map to follow. FLORIDA CPA TODAY
Jeff has been with Thomas Howell Ferguson in Tallahassee for 19 years.
Our first step was identifying potential committee members and inviting them to join. We then outlined the committee’s goals and objectives and created a plan for others to follow and develop. The committee still is going strong and most of the initial members went on to serve on the Board and as FICPA chair. I’m so glad I was a part of that process. I was out of my comfort zone, but as is always the case when you make yourself vulnerable, I learned much more than I ever thought I would.
Tell us about your involvement in educating CPAs who work for not-forprofit organizations about auditing and preventing fraud. Although it requires a significant amount of preparation, I enjoy teaching and I enjoy the audience’s energy (even if I have to help create some of it). Our profession and the industries we serve change so quickly and demand an increasing amount of our time. Speaking forces me to stay ahead of the curve. The preparation forces me to learn, but also to anticipate the audiences’ questions and have the answers. I think the process benefits me and my clients.
What advice would you offer other CPAs? The best advice I can give other CPAs is this: put yourself in your clients’ shoes and provide them with the
➡
www.ficpa.org
25
COVER
story
service you’d expect if you were paying for it. It’s also important to lead by example. I try hard not ask anyone to do anything I’m not willing to do myself.
If you had to do your entire career over again, would you do anything differently? I really enjoy what I do and I truly believe I made the right career choice. If I didn’t have any responsibilities and didn’t have to worry about paying the bills, I’d like to play professional golf, chase storms or dabble in politics. Maybe I’ll have time to do some of those things when I retire.
What would you say is the biggest benefit of FICPA membership? Having a team of people dedicated to protecting the value of the CPA license and reputation. The professional world and the public regard us as a profession with the highest ethical values. That creates the trust that makes our services valuable, regardless of the practice area we serve. As a self-regulating profession, it’s important that we maintain that trust. FICPA and AICPA membership helps us do that.
26 JULY/AUGUST 2014
What are the FICPA’s most important challenges and how will you help the Institute tackle them? Many of our challenges will come from the influences of a changing national and global environment. The AICPA is studying the nature of and method in which continuing education is provided and measured, and this will affect the way we provide those services in Florida. Remaining relevant to a membership that includes four working generations with diverse backgrounds will continue to be a challenge. These issues, and many others, will impact our governmental advocacy efforts. To believe I could tackle all of these issues in a single year would be wishful thinking. My goal is to be sure the FICPA is positioning its members as leaders in that changing environment. Knowing the needs and concerns of our members, including young CPAs and student members, will help us do that. Maintaining our presence and leadership at the AICPA level also will help us. I’m proud and excited to work with the FICPA volunteer leadership and staff, and I’m confident that we’ll make our members proud. FCT
Find Your Degrees of CPE No matter what your coordinates are, we have a conference convenient to you. Learn at Florida’s leading universities and get the CPE you need.
University of Florida Accounting Conference Oct. 16-17, 2014 Gainesville
University of South Florida Accounting Conference Oct. 23-24, 2014 Tampa
Florida Gulf Coast University Accounting and Tax Conference Oct. 30-31, 2014 Ft. Myers – Estero
Florida State University Accounting Conference May 14-15, 2015 Tallahassee
Register Today! To register online, visit ficpa.org/cpe. For more information, call (800) 342-3197 or (850) 224-2727. www.ficpa.org
27
STAFF
reports
Governmental Affairs By Justin Thames, governmental affairs manager
Gov. Scott signs CPA bill into law
A
fter the Legislature’s unanimous approval during the 2014 Session, Gov. Rick Scott signed Senate Bill 796 into law June 13. Sponsored by Sen. Jack Latvala of Clearwater and Rep. Jim Boyd of Bradenton, the bill clarifies several licensure requirements under Florida Statute 473 and institutes a streamlined process for CPAs to fulfill their CPE requirements and reactivate their licenses. The Florida Board of Accountancy (BOA) and the FICPA supported the legislation. The law will go into effect July 1. Afterward, CPAs whose licenses are inactive as of June 30 can complete 120 hours of continuing education and reactivate their licenses by June 30, 2016. CPAs who intend to participate in the reactivation process must notify the BOA by Dec. 31, 2014. FCT For more information, contact the FICPA Governmental Affairs Department at govaffairs@ficpa.org.
Gov. Rick Scott signed SB 796 into law June 13.
Educational Foundation By Jason Zaborske, FICPA educational foundation development director
Jeans for Scholarships Have it your way
I
t seems like casual Fridays at the office can’t come soon enough. Ditch the ties and heels and bring on the jeans – enjoy a casual day in the middle of the week with Jeans for Scholarships! Have everyone in the office donate $5 or $10 and wear your most stylish (or comfortable) jeans to work. You can double your contribution by asking your company, firm or institution to match your donation. All contributions go to the FICPA Educational Foundation General Scholarship Fund. A Jeans for Scholarships day can be whatever you make it. Have a themed potluck lunch or a mid-week office party. You can raise money for accounting students, have fun and look good while doing it. 28 JULY/AUGUST 2014
Suncoast Scramble
A
lthough it was rescheduled because of inclement weather, the 2014 Suncoast Scramble was a huge success. Almost 100 golfers participated in the tournament. Many thanks to our players and sponsors for their continued support of Florida’s future CPAs.
2014 Suncoast Scramble Sponsors
There’s still time to register for the Oct. 24 Jeans for Scholarships day. Don’t forget to take pictures and email them to us! Visit www.ficpa.org/ jeans to view a list of firms that are Scholarship Wranglers, and to see pictures of Florida CPAs in jeans! FCT For more information, or to register your organization, visit www.ficpa.org/jeans or email edfound@ficpa.org
Presenting Penservo Inc. FICPA Suncoast Chapter
The Bank of Tampa USA Payroll USAmeriBank
Birdie Plus Rutenberg Realty
Chapter Gulf Coast Chapter West Coast Chapter
Birdie Advanta IRA Services CBIZ MHM, LLC Chambers Financial Group CliftonLarsonAllen LLP FICPA PDR Risk Avoidance Managers Inc. Seaside National Bank & Trust Synovus Bank
Hole Fifth Third Bank Gassman Law Associates, PA Heinkel Law Group Keith L. Jones, CPA MIDFLORIDA Credit Union Platinum Bank Rivero, Gordimer & Company, PA TSE Industries Inc. FCT
From FICPA staff reports
1040K celebrates 25th annual race
T
his year, the FICPA Educational Foundation’s 1040K Run celebrated its 25th year. The race returned to its original location in Coconut Grove – and with more than 650 runners, it was a tremendous success. The 1040K raises scholarship funds for South Florida accounting students. During the years, the race has raised over $250,000 for the FICPA General Scholarship Fund. This year, the Foundation awarded scholarships to Natalie Diaz of The University of Miami; Christiffer Dodor of Florida Atlantic University; and As the firm with the most registered runners, Perez-Abreu, Aguerrebere, Sueiro & Torres, PL received the 2014 Corporate Cup.
Candice Kuhn of The University of Miami. Each year, the 1040K presents the Corporate Cup to the firm with the most registered runners. This year’s winning firm was Perez-Abreu, Aguerrebere, Sueiro, Torres, PL. The race wouldn’t have been possible without our sponsors, runners and volunteers. We sincerely thank everyone who participated. Don’t miss next year’s 1040K on Thursday, April 16, 2015. See you there! FCT
Scholarship recipients Natalie Diaz, University of Miami; Christiffer Dodor, Florida Atlantic University; and Candace Kuhn, University of Miami (center, left to right) meet Miami City Commissioners Keon Hardemon (far left) and Frank Carollo (far right) at the 1040K Run.
New Members
The FICPA happily welcomes many new CPAs and runners “Go!” at the 25th Annual 1040K Run.
members throughout the year. To see a list of members who have recently joined, visit the FICPA website at www.ficpa.org/ meetnewmembers.
FLORIDA CPA TODAY
www.ficpa.org
29
30 JULY/AUGUST 2014
FLORIDA CPA TODAY
www.ficpa.org
31
NEWS
briefs
Harrell, Schultz receive Women to Watch Awards Allison Harrell, CPA and Sheri Schultz, CPA/ABV/CFF recently received FICPA Women to Watch Awards. The awards, which are given in conjunction with the AICPA, recognize outstanding women who are shaping the FICPA and the CPA profession. Harrell received the Emerging Leader Award and Schultz received the Experienced Leader Award. “We are thrilled to present Allison and Sheri with these awards,” said FICPA President/CEO Deborah Curry, CPA, CGMA. “We so appreciate their valuable service to our organization, and to our profession.” Harrell is director, assurance services at Thomas Howell Ferguson, PA in Tallahassee. She has served as a member and as chair of the FICPA’s Young CPA Committee. Under her leadership, the FICPA furthered its recognition of the importance of developing young leaders in the CPA profession. Harrell represented Florida and the FICPA as a member of the AICPA’s inaugural Leadership Academy. She served as chair of the AICPA’s inaugural Edge Conference and recently was appointed as the youngest member of the Executive Committee of the AICPA’s Government Audit Quality Center. Schultz is an equity owner and member of the Executive Committee of Fiske and Company in Plantation. She is the firm’s director of litigation support and valuation services. As a past chair of the FICPA Business and Valuation/Litigation Committee, Schultz helped develop the Valuation and Litigation Section. A 26-year FICPA member, she has served on the Institute’s Board of Governors and currently serves on the Valuation and Litigation Conference Planning Committee. Schultz is chair of the ABV Champion Program, an AICPA initiative offering CPA/ABVs the support, structure and resources to collaborate with state societies to promote and expand the ABV credential. FCT
Allison Harrell, CPA
Sheri Schultz, CPA/ABV/CFF
Valentin receives Clay Ford Scholarship The Florida Department of Business and Professional Regulation (DBPR), Division of Certified Public Accounting, encourages minority accounting students in Florida to apply for the Clay Ford Scholarship. DBPR awards the scholarship
each year to minority students studying to become CPAs. Since its implementation in 1999, the CPA Education Minority Assistance Program has awarded more than $1 million. Last year’s recipient was FICPA student member Edwin Valentin, who attends the University of Central Florida. He learned about the scholarship from FICPA member Dave Dennis, who’s been helping spread the word during visits to Florida college campuses. “I truly appreciate the FICPA’s work to increase awareness about the Clay Ford scholarship,” Valentin said. “I’m very thankful for the scholarship and I look forward to representing and pursuing the profession in Florida, where I’ve had so much opportunity. I look forward to a long relationship as a member as well!” FCT The next application deadline is June 1, 2015. For more information, visit www. myfloridalicense.com/CPAscholarship.
32 JULY/AUGUST 2014
From FICPA staff reports
Marketplace now requires Special Enrollment Period Now that the 2014 Open Enrollment Period (OEP) has ended, FICPA members must experience a qualifying life event, opening a Special Enrollment Period, to enroll in a qualified health-insurance plan through the CPA Insurance Marketplace. What is a qualifying life event? • Birth or adoption* • Marriage or divorce* • Move to a new coverage area • Involuntary loss of coverage* • Loss of subsidy eligibility • Loss of Medicaid/CHIP eligibility • Current plan closes* • Gaining citizenship • Leaving incarceration Effective date rules • Enroll between the first and the 15th of the month: effective first day of following month. • Enroll between the 16th and the 31st of the month: effective first day of the second following month.
FLORIDA CPA TODAY
The next OEP is Nov. 15, 2014 to Feb. 15, 2015. In the meantime, members who haven’t experienced a qualifying life event may want to consider a short-term health plan. FCT For more information, visit www.memberbenefits.com/ ficpa or call Member Benefits at (800) 282-8626. *Effective date is based on the event date.
www.ficpa.org
33
C PA s I N
the spotlight
Transitions
Sarasota: Kerkering, Barberio & Co. announces that Laura Peaslee has joined the firm as an audit supervisor.
Birmingham: Warren Averett Asset Management LLC announces the firm’s expansion into the Tampa market. The firm also has Jim Daniel
offices in Birmingham, Huntsville and Montgomery,
Lisette Murch
Ala., and in Pensacola. Boca Raton: Daszkal Bolton LLP announces that Richard Gray has rejoined the firm to lead its business and valuation practice. Jacksonville: Atherio Inc. Richard Gray
announces that James A. McQuillan has joined the
Andrea Riesen
executive team as senior vice president and corporate controller.
Miami: Morrison, Brown, Argiz & Farra LLC announces
Maitland: Andrea Riesen
that Jesus Socorro has joined
has joined the firm of Taylor
the firm as a principal in the
Lombardi Hall &Wydra PA as principal. Josh Hogan
Miami: Kane & Company PA has opened an office at 20900 NE 30th Ave., Suite 200, in Aventura.
audit department. Panama City: Alice M. Bennett has been named the director of finance & accounting for American Family Investments Inc.
St. Lucie County: Karen Russell has joined the St. Lucie County Fire District as the new clerk-treasurer. Tallahassee: Lanigan & Associates announces the promotions of Walker Bridges to tax manager II; Blaine Click and Keith Eierhart to tax manager I; Erik Luoma to audit senior III; Michael O. Sills, Jr. to audit senior manager; and David Strange to audit II. Tallahassee: Thomas Howell Ferguson PA welcomes Casey McLaughlin, Christie Thompson, Damien Rigol and Myroslava Bune as their newest assurance department recruiting class, and Christa Genre and Justin Jessup as tax services staff. The firm also welcomes to its Tampa office Jim Daniel as senior manager, assurance services and Josh Hogan as staff, assurance services.
Miami and Fort Lauderdale: Soneet Kapila and Barry Mukamal announce the formation of a new consulting firm, KapilaMukamal LLP. Kapila William “Bill” Kimerer
and Mukamal are comanaging partners of the new entity.
34 JULY/AUGUST 2014
For more news about members and other Florida CPAs, visit CPAs in the Spotlight at www.ficpa.org/Content/News/Spotlight.aspx. 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 emailed to communications@ficpa.org.
Tampa: Carr, Riggs & Ingram, LLC has acquired Auditwerx. Auditwerx will maintain its Tampa location and operate under the name of Auditwerx, A Division of CRI.
Veronica Larriva of McHale, Caruso, Scullion & Knox in Fort Myers has passed the AICPA examination and met the requirements to become a licensed CPA.
Winter Park: TD Bank has named James G. Hanning as senior lender.
Sandor “Sandy” Lenner of Susan Missal Lenner PA in Miami recently gave a speech on “Managing Your Budget Through a Tough Economy” for certain economically challenged individuals of Parnossah Works Miami. The program is provided by Jewish Community Services in partnership with the Greater Miami Jewish Federation.
Who’s News Maria Figueroa Byrd of Byrd Martinez CPA in Miami has been elected president of the Junior League of Miami for the 2014-2015 year. The Board of Directors of the Lee County Legal Aid Society recently elected Leslea G. Ellis to the Board. Brad Gould of Dean, Mead, Minton & Zwemer recently served as moderator for the Current Developments Program given by the S Corporation Committee of the Section of Taxation of the American Bar Association. Fiske and Company announces that the firm was recognized as a finalist at the South Florida Business Journal’s 2014 Business of the Year Awards event. Thomas Howell Ferguson in Tallahassee congratulates Allison Harrell on winning the Tallahassee Network of Young Professionals Golden A.C.E. Award in the Finance Category. The firm also congratulates Alyssa Roti and Paola Blackburn on becoming CPAs. William “Bill” Kemerer of William J. Kemerer CPA in Brooksville has filed to run for Brooksville City Council Seat 4. FLORIDA CPA TODAY
Gary J. Margolis of Callaghan & Margolis CPAs in Fort Lauderdale was elected to the Advisory Board of the Broward County National Academy Foundation and as Fund Raising Committee chairman.
John Stancil of John L. Stancil CPA LLC in Lakeland was highlighted in an article in The Ledger in April. He has donated thousands of hours of tax preparation and advice to various individuals and organizations, including his church. In 2005, he was named the FICPA’s Outstanding CPA in Public Service. Keith A. Veres of Hill, Barth & King LLC in Fort Myers has been named treasurer of the Cape Coral Community Foundation’s Executive Committee. Guy N. Williams of Guy N. Williams PA in Lake City was re-appointed by Gov. Rick Scott to the Suwannee River Water Management District Governing Board. Williams’ term began March 28, 2014 and will end March 2, 2018. FCT
Lisette Murch of Wolcott & Associates PA in Fort Lauderdale recently passed the IRS’ Enrolled Agent Exam and earned her status as an enrolled agent. The entire staff of Myers, Brettholtz & Company PA in Fort Myers will volunteer as Meals on Wheels drivers this summer. Nancy Ridenour of PDR Certified Public Accountants in Clearwater was one of five businesswomen honored by the Girl Scouts at the 13th Annual Women of Distinction Awards Luncheon. The luncheon featured award-winning actress, designer and humanitarian Jane Seymour. Republic Services Inc. announces the election of Ramon A. Rodriguez of Fort Lauderdale as non-executive chairman of the company’s Board of Directors.
www.ficpa.org
35
MARKET
place
Positions available Boca Raton law/CPA/financial services firm seeks motivated, computer literate CPA for estate planning, real estate, probate, corporate legal practice as well as large tax/accounting practice. Recent graduate O.K. Will train. Email Liz at Liz.financial1one@ yahoo.com or call (561) 241-0000. Internal auditor contractor – The Florida Reliability Coordinating Council is seeking an internal auditor (contractor) to perform internal audits of various business functions, assist external auditors & support corporate audit committee. Candidates should have at least 5 yrs relevant exp, a master’s degree in accounting or related field, & CIA or CPA designation. Please see full job posting & how to apply at www. frcc.com – under Employment Opportunities. Kendall-area CPA firm is seeking to hire a tax manager(s) CPA w/nearterm partnership potential. The candidate(s) must have a strong tax background & personal skills. Compensation will be commensurate w/ the candidate’s ability. Our firm has a good reputation & is well-established & profitable. Reply to reply@ ficpa.org & reference file number R PA 07 08 14. Ahearn Jasco + Company, one of Broward’s oldest & most recognized public accounting firm is hiring for the following positions: Tax accountants w/2-3 yrs of exp in public accounting. Bachelor’s degree in accounting, CPA or actively pursuing CPA certification by sitting for all scheduled exam sections. Compiled F/S through the tax preparation of individual, corporate, partnership & S corp returns is required, along w/strong account reconciliation skills. Senior auditor – previous exp & responsibility for the full scope of the audit & accounting engagements from planning through
completion. Bachelor’s degree in accounting. CPA or actively pursuing CPA certification by sitting for all scheduled exam sections. Three to five yrs of recent exp in a CPA firm supervising financial-statement audits of privately held companies. SEC audit & financial reporting is a plus. Tax preparation exp (corporations, partnerships & individuals) a plus. Strong working knowledge of GAAP; ability to manage multiple priorities, deadlines & budgets; strong work ethic; honest & ethical. We offer motivated graduates a competitive salary & benefits & a friendly, team-oriented environment to start achieving their goals. Please visit our website at www.ahearncpa.com & send your resume to hr@ahearncpa.com. CPA/junior partner – Longestablished S. Miami-Dade CPA firm is looking for a CPA to become junior partner. Career path involves write-up work, preparation and/ or review of financial statements as well as individual & corp/ partnership tax-return preparation. Must be proficient in current technologies, have great people skills & be an excellent communicator. No limit in terms of growth potential. Compensation is commensurate w/qualifications & exp. Please send resume to cpaofficestaff@gmail.com. Retirement-minded S. Miami Dade County CPA seeks CPA for space sharing, merger and eventual buy-out of a tax preparation, small business and compilation practice. Respond to reply@ficpa.org and reference file number I PA 07 08 14.
Established local Pompano Beach CPA firm seeks CPA w/3-6 yrs exp in public accounting. Corporate, individual, partnership, estate &
trust returns, accounting & F/S exp required. Competitive salary & benefits w/paid overtime available in a friendly environment. Please email resume to frank@webbcpa.com. Tax manager – Jacksonville CPA firm ($900k billings) seeks CPA tax manager. Prefer CPA w/book of business. Requires exceptional knowledge of taxation at all levels. “Partner” qualities & no-drama, client-focused personality are essential. We are transitioning from senior members to future leaders. Forward bio & resume to westsidejaxcpa@gmail.com. Robbins and Landino, PA, an established S. Florida firm, seeks an accountant/auditor w/2-5 yrs of recent public accounting exp. CPA or CPA candidate a plus. Attention to detail & organizational skills required for this position. Competitive salary & benefits. Email resume to danrlpa1993@gmail.com. Boynton Beach CPA firm of 6 outstanding individuals seeks a tax accountant w/5+ yrs public accounting exp who will be responsible for preparing all types of tax returns & write-up work, including creating & maintaining financial reports. Partnership potential for the right person. Candidate should have knowledge of a variety of industries & possess excellent computer skills. Qualifications: great attitude, dependable, able to run client engagements from start to finish. Attention to detail & a professional appearance a must. Please reply w/ resume & salary requirements to cpapartnership@gmail.com. Applications without salary requirements will not be considered. Polk County firm seeks experienced CPAs – Sr audit manager (10+ yrs) & sr tax manager (10+ yrs); we are an established Central Florida firm & a member of a national firm alliance searching for experienced staff w/commensurate skills. Email resume to info@bticpa.com.
For complete classified policies, visit www.ficpa.org/Content/CPAResources/ClassifiedsJobs/Classifieds.aspx. 36 JULY/AUGUST 2014
The Collier Companies, a leading provider of student-housing communities, is seeking an experienced tax/accounting manager. Successful candidate will have exp in federal-tax preparation & filing; w/abilities to work independently & manage accounts-payable team. Excellent written, verbal, organization & computer skills required. Will be tasked w/annual federal-tax preparation/filings, treasury/cash mgmt, mortgage payments, owner personal finances/ investment mgmt. Competitive salary w/excellent benefits package. Must possess 4-yr degree in accounting w/ CPA or CMA preferred & 3-5 yrs progressive exp in preparing & filing federal tax returns w/ general accounting exp. Please forward resume w/cover letter & salary history to careers@ colliercompanies.com. EOE/DFWP CPA/partner - established Minneapolis CPA firm is seeking a CPA/partner or partner-in-training w/5 or more yrs of exp to grow our Naples ofc. Please contact us at info@jmknoll.com or call (952) 5483200 & ask for Jim Knoll.
Positions Wanted West Palm Beach CPA looking for part-time tax position. Proficient in ProSystem FX, Proseries, Lacerte. Please respond to reply@ficpa.org and reference file number A PSW 07 08 14.
Practices wanted for purchase or merger Established quality Fort Lauderdale CPA firm seeks to acquire practice from retirement-minded CPA w/ transition of your choice. Email inquiries to ajcpapa@aol.com or call Cary at (954) 985-1040.
Well-established S. Miami-Dade CPA firm looking to purchase practice from a retirement-minded CPA in Miami-Dade county. Favorable purchase terms & continuing employment for as long as desired. Please contact Larry Nones at larry@jnccpas.com or at (305) 274-1200. Orlando area CPA firm w/$1,000,000 plus in revenues. Seeking to purchase practices, open to merger possibilities. Good mix of audit & tax. Good staff. Respond to Chuck at newmancpa@ aol.com. Established South Florida firm with multiple offices looking to acquire & possibly merge with accounting/ bookkeeping firms. Favorable price & terms along with continuing employment agreement available. Please contact us at (561) 358-1301 or ssharfi@guttasharfi.com.
For sale
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 with a professional. Call David Akins, CPA, at (877) 2770272. Visit our website at www. ProfessionalCPAbroker.com.
Practices Wanted. Cash Buyers Waiting. List your practice w/ Florida’s No. 1 Accounting Brokerage Firm. No upfront fees. Recent references available. Selling practices in Florida for 30+ yrs. New listings include – Miami Lakes $550,000; Tampa Bay $900,000; Orlando $500,000+; Palm Coast $100,000; Sarasota area $275,000. Contact Erwin Rosenblatt (561) 666-6737 or Leon Faris (800) 7299031 w/Professional Accounting Sales or visit our website at www. cpasales.com. Small business CPA firm in midPinellas County (Clearwater) for sale. 2013 gross approx $275K. Sole practitioner looking to retire. One full-time & one parttime staff. Respond to reply@ficpa. org and reference file number A FS 07 08 14. Bay County, NW Florida 55% tax, 32% accounting, 13% payroll of $155k gross 2013. Varied client base, all small businesses gross $2 million or less. Excellent location on major beach route. Owner open to merger or transitional employment for client retention. Please respond to reply@ficpa.org file number B FS 07 08 14.
Growing S. Florida CPA firm looking to purchase a practice from a retirement-minded CPA in Dade County. Favorable purchase terms offered w/continuing employment opportunities available. Please contact Jeffrey Taraboulos at info@ ksdt-cpa.com or (305) 670-3370.
FLORIDA CPA TODAY
www.ficpa.org
37
DOR
update By Vince Aldridge, director of legislative & cabinet services
responsible for prior delinquent tax accounts when they seek to register a new business for sales tax. • Increases the executive director’s authority to compromise taxes when there is doubt about liability or collectability. • Contains other provisions to improve tax administration.
Corporate Income Tax “Piggyback” (CS/SB 1676) This bill follows the federal income tax code, retroactive to Jan. 1, 2014.
E911 Fee (CS/CS/HB 175)
Legislature Passes Tax Administration Bill
E
ach year, the Florida Department of Revenue (DOR) publishes a Post-legislative Review that has information about general laws the Florida Legislature has enacted that affect taxes DOR administers. DOR will post the review under “Our Reports” at dor.myflorida.com/dor/about_ us.html. Most years, DOR makes recommendations for legislative actions to clarify and address DORrelated administrative issues and help improve the way DOR does business. This year, DOR’s legislative package (CS/HB 7081) passed during the eighth week of session and Gov. Scott has signed the bill. Here are highlights of that bill and other bills of interest that passed during Session. At press time, not all had become law.
Tax Administration (CS/HB 7081) • Reduces the interest rate imposed on reemployment tax deficiencies. • Clarifies provisions pertaining to criminal penalties for failing to collect a tax or fee; making a false or fraudulent return; or failing to register with DOR. • Provides an incentive for businesses to comply with records requests during a reemployment tax audit. • Makes illegal the possession or use of automated sales-suppression devices or software. • Clarifies DOR’s authority to require security for individuals or businesses that are 38 JULY/AUGUST 2014
Clarifies that the E911 fee applies to pre-paid calling arrangements and requires DOR to administer the fee.
Pre-paid Calling Arrangements (HB 5601) Clarifies the taxability of pre-paid calling arrangements. Back-to-school Sales-tax Holiday (HB 5601) Sales-tax holiday from Aug. 1-3 that applies to clothing with a sales price of $100 or less per item and school supplies of $15 or less per item. The holiday also applies to the first $750 of personal computers and related accessories. Hurricane-preparedness Sales-tax Holiday (HB 5601) Sales-tax holiday from May 31-June 8 on specified hurricane-preparedness supplies. Energy Star and WaterSense Sales-tax Holiday (HB 5601) Sales-tax holiday from Sept. 19-21 on Energy Star or WaterSense products under certain circumstances. Re-employment Tax Installment Plan (CS/HB 7023) Makes permanent the optional installment plan for re-employment tax, which was due to expire in 2014. Electricity-Gross Receipts/Sales Tax Rate Swap (HB 5601) Shifts some of the tax on the sale of electricity from Ch. 212, Florida Statutes (F.S.) to Ch. 203, F.S. The net result will be a slight reduction in the overall tax rate (from seven percent to 6.95 percent) for customers of electricity subject to sales tax (i.e., non-residential). FCT For more information, call DOR Legislative and Cabinet Services at (850) 617-8600.
SEMINARS Ft. Myers
Location: Hyatt Place Miami-Airport West Instructor: Irving Uncyk Early Bird Price*: $99 Member • $164 Nonmember Regular Price: $154 Member • $219 Nonmember
ETHICS
Naples
Ethics: Protecting the Integrity of Florida CPAs (4980) Date: 10/29/2014 CPE Credit: 4 ETH • Course Number: ETHFGC Location: Embassy Suites Hotel – Ft. Myers Instructor: Cecil Patterson Early Bird Price*: $99 Member • $164 Nonmember Regular Price: $154 Member • $219 Nonmember
Miami ETHICS
ETHICS
Date: 11/3/2014 CPE Credit: 4 ETH • Course Number: ETH65 Location: TBA Instructor: Michael S. Kridel Early Bird Price*: $99 Member • $164 Nonmember Regular Price: $154 Member • $219 Nonmember
Tampa
Date: 11/3/2014 CPE Credit: 4 ETH • Course Number: ETH70
Contents
PRICING RULES: *Register more than 10 days before the course date to receive the Early Bird Price ($55 off the regular registration fee).
BEHAVIORAL
Nonmembers of FICPA are welcome to attend but are required to pay an additional $125 per full day of instruction or $65 per half day of instruction.
Building Trust and Resolving Conflict Date: 9/10/2014 CPE Credit: 4 BEH • Course Number: BTRC400 Location: Maggiano’s Little Italy Instructor: Karl Ahlrichs Regular Price: $150
NEW! Strategies for Delivering Exceptional Customer Service More Often Date: 9/10/2014 CPE Credit: 4 BEH • Course Number: DECS400 Location: Maggiano’s Little Italy Instructor: Karl Ahlrichs Regular Price: $150
NEW! Powerful Communication - The
Date: 9/30/2014 CPE Credit: 8 TB • Course Number: MBA805 Location: Maggiano’s Little Italy Instructor: Peter A. Margaritis Regular Price: $275
Preventing and Detecting Identity Theft Date: 10/22/2014 CPE Credit: 8 AA *Course Number: IDENT05 Location: TBA Instructor: Douglas Warren Early Bird Price*: $280 Member • $405 Nonmember Regular Price: $335 Member • $460 Nonmember
Four-Hour Course Date: 10/23/2014 CPE Credit: 8 AA • Course Number: CHA415 Location: TBA Instructor: Cecil Patterson Early Bird Price*: $150 Member • $215 Nonmember Regular Price: $205 Member • $270 Nonmember
Annual Accounting and Auditing Update Value-Priced Seminar Date: 10/24/2014 CPE Credit: 8 AA • Course Number: ACAU60 Location: TBD Instructor: Cecil Patterson Early Bird Price*: $200 Member • $325 Nonmember Regular Price: $255 Member • $380 Nonmember
ETHICS Ethics: Protecting the Integrity of Florida CPAs (4980)
TAX Eight Hour MBA
A&A
Condos and HOAs: Accounting Update
NEW! Interpersonal Leadership -
Seminars .................................. 40 Ft. Myers ............................... 40 Miami .................................... 40 Naples ................................... 40 Tampa ................................... 40 West Palm Beach................... 40 Value-Price Seminars .............. 41 LearnLinx ................................. 41 A&A .......................................... 42 Tax/PFP .................................... 42 Ethics ....................................... 42 Conferences ............................ 42
Date: 10/28/2014 CPE Credit: 8 TB • Course Number: SUT10 Location: TBA Instructor: Joseph Moffa Early Bird Price*: $280 Member • $405 Nonmember Regular Price: $335 Member • $460 Nonmember
West Palm Beach
Ethics: Protecting the Integrity of Florida CPAs (4980)
Ethics: Protecting the Integrity of Florida CPAs (4980)
Florida Sales and Use Tax Issues
Date: 10/23/2014 CPE Credit: 4 ETH • Course Number: ETH60 Location: TBA Instructor: Cecil Patterson Early Bird Price*: $99 Member • $164 Nonmember Regular Price: $154 Member • $219 Nonmember
For complete CPE policies, visit www.ficpa.org/policies >A&A = Accounting & Auditing
40 JULY/AUGUST 2014
>Industry = Business & Industry
>BIZTECH = Business Technology
Of Course!
Get exceptional value from our Value-Priced CPE line. These streamlined, high-quality courses enable you to gain essential knowledge and skills at a lower price — our most popular courses, taught by our best educators, in modest facilities that are conveniently located around Florida. We may not serve you lunch, but we’ll serve you valuable CPE at great savings.
Quality Courses for Cost-Conscious Professionals Annual Accounting & Auditing Update 8 Accounting and Auditing hours Oct 24 ACAU60 West Palm Beach Nov 5 ACAU65 Tampa Nov 20 ACAU70 Orlando
The Best Individual Income Tax Update Course 8 Technical Business hours Nov 14 BITU00 Boca Raton The Best S Corporation, Limited Liability and Partnership Update Course 8 Technical Business hours Nov 13 BCPE00 Boca Raton
The Best Federal Tax Update Course 8 Technical Business hours Nov 12 BFTU00 Ft. Pierce
Visit www.ficpa.org/valuepriced to review our extensive online CPE catalog.
Florida Institute of CPAs Webinars July 10
WEBNAR16
Creating a Powerful LinkedIn Profile: Insider’s Tips and Techniques (1hour)
July 16
WEBNAR12
Current Federal Tax Developments (Tax Update) (2 hours)
July 17
WEBNAR17
So You’ve Got the Perfect LinkedIn Profile: Now What? (1hour)
July 24
WEBNAR18
Company Pages on LinkedIn: The Who, What, When, Where and Why (1 hour)
Aug 8
WEBNAR13
Partnership Taxation and LLCs (2 hours)
Aug 19
WEBNAR22
The AICPA’s Financial Reporting Framework for Small and Medium Sized (2 hours)
Right Time. Right Place. Right Price.
>GOV/NFP = Government/Not-For-Profit
www.ficpa.org/MEMBER83114
>TAX/PFP = Tax/Personal Financial Planning
To register, call 800.342.3197 or 850.224.2727, or visit ficpa.org/cpe.
>VFALS = Valuation, Forensic Accounting & Litigation Services www.ficpa.org
41
A&A COURSES Florida Institute of CPAs A&A Courses Date
Credits
Course Number
City
Title
Oct 23 Oct 24
4 AA 8 AA
CHA415 ACAU60
W. Palm Beach W. Palm Beach
Condos and HOAs: Accounting Update (4 Hour) Annual Accounting and Auditing Update
ETHICS COURSES Florida Institute of CPAs Ethics Courses Date
Credits
Course Number
City
Title
Oct 23 Oct 29 Nov 3 Nov 3 Nov 4
4 ETH 4 ETH 4 ETH 4 ETH 4 ETH
ETH60 ETHFGC ETH65 ETH70 ETH75
W. Palm Beach Ft. Myers Naples Miami Tampa
Ethics: Protecting the Integrity of Florida CPAs (4980) Ethics: Protecting the Integrity of Florida CPAs (4980) Ethics: Protecting the Integrity of Florida CPAs (4980) Ethics: Protecting the Integrity of Florida CPAs (4980) Ethics: Protecting the Integrity of Florida CPAs (4980)
TA X / P F P C O U R S E S Florida Institute of CPAs Tax/PFP Courses Date
Credits
Course Number
City
Title
Oct 28
6 TB/2 AA
SUT10
Tampa
Florida Sales and Use Tax Issues
CONFERENCES 2014
Summer Vacation Cluster
State and Local Government Accounting Conference
29th Annual Accounting Show
August 7-9, 2014 Lake Buena Vista (Up to 20 CPE Credits)
August 14-15, 2014 Orlando (16 CPE Credits)
September 17-19, 2014 Ft. Lauderdale (Up to 23 CPE Credits)
www.ficpa.org/Conferences >A&A = Accounting & Auditing
42 JULY/AUGUST 2014
>Industry = Business & Industry
>BIZTECH = Business Technology
Of Course!
F L O R I D A
Florida Institute of Certified Public Accountants P.O. Box 5437 Tallahassee, FL 32314-5437