MACPA Statement // July 2018

STATEMENT MACPA’S

J U LY 2 0 1 8

SAMANTHA BOWLING

FRAMES UP THE FUTURE ALSO INSIDE MACPA’s 2018-19 Board of Directors

Page 8 Kimberly Ellison-Taylor’s drive to advance the profession

Page 12

Maryland Association of Certified Public Accountants, Inc.

CONTENTS July 2018 | Maryland Association of Certified Public Accountants, Inc.

CHAIR’S COLUMN.............................................................................. 2 FEATURES Samantha Bowling frames up the future............................................................... 4 MACPA’s 2018-19 Board of Directors.................................................................... 8 Kimberly Ellison-Taylor’s drive to advance the profession.................................. 12

DEPARTMENTS Business & Industry.............................................................................................. 14 Future-Ready........................................................................................................ 19 Financial Planning................................................................................................ 22 Public Practice...................................................................................................... 23 High-Tech Solutions............................................................................................. 25 From our Partners................................................................................................ 28

MEMBER NOTES................................................................................ 33 CLASSIFIEDS........................................................................................... 35 UPCOMING EVENTS & COURSES.................................... 42 ADMINISTRATION

TECHNICAL SERVICES

Pam Bartoshek pamb@macpa.org

Cora Edwards cora@macpa.org

Amy Stumme amy@macpa.org

MaryBeth Halpern marybeth@macpa.org

COMMUNICATIONS

SPONSORSHIP AND ADVERTISING

Bill Sheridan bill@macpa.org FINANCE Margaret DeRoose margaret@macpa.org

Amy Puente amyp@macpa.org Krislyn Suljak krislyn@macpa.org

Laura Swann, CPA lauras@macpa.org

PROFESSIONAL DEVELOPMENT

MEMBER SERVICES

Natalie Atonakas @macpa.org

Lauren Baker lauren@macpa.org

Pamela C. Devine pam@macpa.org

Rebekah Brown, CPA rebekah@macpa.org

Chris Dougherty chrisd@macpa.org

PRODUCT DEVELOPMENT

Laura Dorsey-Shaner laura@macpa.org

Akesha Brown akesha@macpa.org Debbie Zizwarek debbie@macpa.org

JULY 2018

Terri Smith terri@macpa.org Jennifer Stevens jennifer@macpa.org

Dee Sullivan dee@macpa.org Emily Trott emily@macpa.org Ryan Wey ryan@macpa.org Rebecca Zimmerman becca@macpa.org

2018-19 BOARD OF DIRECTORS

Leon Katsnelson Andrew Page, CPA Keith Parker, CPA Karen Syrylo, CPA Denise West, CPA, CGMA

SENIOR STAFF MACPA EXECUTIVE DIRECTOR

OFFICERS

J. Thomas Hood III, CPA tom@macpa.org

Samantha Bowling, CPA, CGMA Chair

MACPA DEPUTY EXECUTIVE DIRECTOR

Ray Speciale, Esq., CPA Vice Chair

Jacqueline E. G. Brown jackie@macpa.org

Avonette Blanding, CPA Secretary/Treasurer Kenneth Kelly, CPA, CGMA Immediate Past Chair DIRECTORS Christine Aspell, CPA Mark Cissell, CPA Jeffrey Cook, CPA, CITP, CISA

DIRECTOR OF FINANCE AND ADMINISTRATION Skip Falatko, CPA skip@macpa.org

WE WANT TO HEAR FROM YOU! See below to submit content Bill Sheridan | MACPA Dulaney Center II 901 Dulaney Valley Road Suite 800 Towson, MD 21204 FOR CONTENT SUBMISSION: bill@macpa.org feedback@macpa.org TO ADVERTISE IN THE STATEMENT: krislyn@macpa.org P: 410.296.6250 F: 410.296.8713 Toll free: 800.782.2036

The MACPA reserves the right to edit all submissions for grammatical style and / or length.

Statement of fact and opinion are made by the authors alone and do not imply an opinion on the part of the officers or members of MACPA. The Statement is published four times a year by the Maryland Association of Certified Public Accountants, Inc. Bill Sheridan, Editor Krislyn Suljak, Advertising Sales

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CHAIR’S COLUMN

AUTOMATION IS OUR FRIEND. HERE’S WHY.

BY SAMANTHA BOWLING, CPA, CGMA PARTNER, GARBELMAN WINSLOW CPAs Some of the horror stories.

headlines

read

like

Fifty percent of jobs will disappear within the next 25 years, some experts say. Art Bilger, a venture capitalist and expert at the Wharton School of Business, says that kind of job loss will impact blue-collar and white-collar jobs. Moreover, says The Economist, “no government is prepared” for that level of job loss.

Entire segments of our profession will be automated away within 20 years, others say.

An Oxford University study says the odds of tax preparation becoming a completely automated function within the next two decades are 98.7 percent. Accounting and auditing faces 93.5 percent odds over the same time period.

The consensus is clear: Robots are poised to destroy our profession, doomsayers are crying from coast to coast.

Nonsense, I say.

There’s no doubt that exponential technological advances will impact our profession. It’s happening today. Artificial intelligence, cognitive computing, and blockchain are just a few of the technologies that are redefining what it means to be an accounting and finance professional. And yes, those technologies are increasingly capable of doing more of the work that we’ve spent years learning how to do.

Machines can now crunch the numbers faster and more accurately than we’ll ever hope to.

To which I say, “Thank God.” I don’t know about you, but I don’t want to spend the rest of my career crunching the numbers. I’ve got more value to add than that. So do you.

Automation in accounting? That’s a Godsend. I want a machine that will crunch

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numbers faster and more accurately than I can. I want a machine that will allow my auditors to look at all transactions rather than just a small sample. That’s a powerful differentiator.

Having that kind of power in our hands will allow us to spend less time crunching the numbers and more time interpreting them.

It will allow us to tell the stories behind those numbers, to add true value for our clients and customers and help them become more future-ready.

That’s what they want, after all.

According to The Sleeter Group, the No. 1 reason why small and mid-size businesses leave their CPAs is that their CPAs aren’t future-ready. Specifically, those businesses said their accountants provide them with reactive services rather than proactive advice.

And yet most of us want to keep doing the same old stuff and crunching the same old numbers. According to CPA.com, only 8 percent of CPAs identify themselves as future-ready.

Our clients are begging us for this stuff.

They want us to be more future-ready ... and to make them more future-ready in the process.

And technological advances like A.I., cognitive computing, and blockchain let us do that.

So bring it on, I say. The faster we can adopt these new technologies, the more value we’ll be able to offer our clients ... and the more relevant we’ll become going forward.

Of course, all of that is easier said than done. If machines are doing our traditional jobs for us, we’ll have to learn some new skills to remain relevant. We’re talking about skills like:

•C ommunication • L eadership •S trategic and critical thinking and problem-solving • Anticipating and serving evolving needs •S ynthesizing intelligence to insight • I ntegration and collaboration •T ech-savvy and data analytics •F unctional and domain expertise

And among those, the most important might be anticipation. This competency positions accounting and finance pros to be future-ready — to be aware, predictive and adaptive of emerging trends and issues. Using this newfound skill can help us identify disruptions, problems, and opportunities. This will be an exciting transformation as CPAs move into higherlevel advisory and business development services that require dedicated consultative and strategic thinking for their organizations and clients.

This is a tipping point for our profession.

Either we’ll learn these skills and lead our clients into a brave new world, or we won’t ... and fade into extinction.

Technology is the answer. Embrace these new tools as resources that will enhance our future-readiness. Or ignore them ... and embrace your own irrelevance. The choice is yours.

I hope you’ll choose to move forward with us. The MACPA is devoted to staying on the cutting edge — to moving our profession forward and helping our clients become future-ready.

As the chair of the MACPA’s 2018-19 Board of Directors, that’s my mission.

Come along for the ride. It’s going to be an incredible journey.

STATEMENT

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Samantha Bowling frames up the future MACPA’s 2018-19 chair expects rapid change … and plenty of opportunities B Y R O B NA N C E

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STATEMENT Bonnie Johnson Photography Ariel Lewis - Beauty Contour Specialist

How many CPAs do you know who were born with a twin sister on Halloween?

Odds are, that answer is a big fat “zero” for you … unless you happen to know this unique fact about Samantha Bowling.

A partner at Garbelman Winslow in Upper Marlboro, Bowling is the proud new chair of the MACPA Board of Directors for 201819. Bowling, a longtime active member of the MACPA and vice chair since July of last year, was elected on June 7 during the MACPA’s annual meeting in Bowie. Her year-long term begins on July 1.

Having been an MACPA volunteer for more than 20 years, Bowling and Garbelman Winslow fully support community involvement and volunteering of all firm employees. Volunteering within the MACPA and the accounting profession is especially important to Bowling.

Her thoughts and plans for the upcoming year range from professional development to education to technology, all focused on her drive to continue to serve the interests of Maryland CPAs. “My passion geared toward educating small firms and mentoring young accountants is central to the many issues that have serious implications for our profession,” she said. “My platform as chair is one of innovation. Exposing CPAs to the technology that’s available to them and making them aware of the possibilities is a huge part of the picture.”

“Expect rapid change, a total transformation of our profession.” - SAMANTHA BOWLING Bowling sees artificial intelligence playing a much larger role in accounting services going forward. In fact, Garbelman Winslow recently announced it was partnering with a company called MindBridge to help them provide A.I.-powered audit assurance services — a meaningful differentiator for a small firm.

“I’ve always tried to be a progressive, future-thinking CPA and business owner. I realized that it’s time for change now or risk being obsolete,” says Bowling. “MindBridge, this terrific artificial intelligence auditor software, is a good example of our firm’s evolution. We’ve been using it since the fall of 2017 and have found it to be a great tool for better and more relevant audits.

Technology has changed so that smaller firms can utilize tools like MindBridge and find that competitive advantage.”

But doesn’t something like an A.I. tool take the accounting professional largely out of the equation?

No, says Bowling — it’s just a game changer.

“The sophistication of the work will evolve, requiring the skill sets of people to change with technology,” she said. “Staff will need to be more analytical, more ‘thinker’ than ‘do-er’ in this wave that’s heading to shore right now.”

For firms that are resistant to change, there’s considerable talk in the profession that they may not keep up or be able to provide many of the services that businesses and individuals will require.

Many thought leaders in the accounting profession recognize that so much more work will be automated in the near future — and some firms simply may not choose to take on that challenge.

“A firm that’s all tax prep may not be here in five years,” Bowling said. “Many owners of small firms thought they could retire before technology really hit the profession, but that’s not the case … and it’s definitely not the case now. So many CPA firms will not be made up of only CPAs and accounting professionals; firms will expand to have a wider variety of people, many other types, including cybersecurity, in a greater role than it is today.”

Without question, Bowling sees a bright future for the profession and the Maryland CPAs, one that’s full of opportunity. The mindset of lifelong learning that’s at the core of accounting professionals provides those built-in tools, motivation, and attitude to tackle what’s ahead. Certainly, it’s still all about people — and the development behind building great teams of innovative, forward-thinking professionals. Along with that mindset is the fact that more firms need to get comfortable with staff working remotely.

“Times have changed and the standard work rules no longer apply,” Bowling said. “I urge firm leaders to work with your staff to forge the right working relationship that fits each person.”

Creating more diversity in the MACPA membership is also an important goal for Bowling. The MACPA has intentionally had a diverse board of directors and an inclusive culture. The diversity of thought provided by these leaders has kept the MACPA in tune with the needs of all CPAs in Maryland.

“We need to make sure our membership remains diverse so we continue to move these leaders into leadership positions,” Bowling said. “The diversity of thought is essential to fully understanding the needs of members and to make sure Maryland CPAs remain relevant in this age of automation. We are moving away from the era of storytellers to the era of fortune tellers, where we anticipate and predict the future by analyzing trends.

We cannot anticipate the future of Maryland’s diverse culture unless everyone is at the table.”

Having lived in Maryland since the age of three, Bowling says her husband, David, is her biggest supporter and has challenged her to be all she can be. Affectionately comments Bowling, “David has been essential in my personal growth and the development of my self-confidence throughout my career. He truly believes I can do anything and he supports those efforts.”

“My husband would say that I am always working and he is probably right. I truly believe in work / life integration and I love what I do,” she said. “I am blessed by the people I work with and I strive every day to create an environment that empowers them to succeed and grow. I have never settled in my career and I expect the same for them. Anything is possible — you just have to believe and want it bad enough. I am constantly thinking of ways to make things better by improving processes, changing software and asking them for input. My office is part of my family and their happiness is essential to my happiness and our success.”

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JULY 2018

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When she is not working or thinking about work, Bowling enjoys going on walks with her husband and their dog, Cooper.

What does she love most about Maryland? Bowling is quick with her response.

“I know this may seem strange, but the MACPA is my favorite thing about Maryland. The organization is made up of people who are dedicated and passionate about Maryland CPAs, insuring that Maryland CPAs are recognized as the best CPAs in the United States. I could also argue the best internationally, too! They connect us to thought leaders, protect our license, and provide relevant education. The MACPA has guided and supported me throughout my 25-year career, and I would not be who I am today without their influence and support.”

What about the barrier to entry for CPAs? The 150 hours required to become a CPA, coupled with the length of time to be approved to sit for the CPA exam has caused some potential candidates to go to other states to sit for the exam. In addition, Maryland has seen a decrease in the number of students who sit for and finish the exam.

“Walk into the future, there’s so much opportunity.”

- SAMANTHA BOWLING “The MACPA has worked closely with Maryland’s Licensing Board to determine the lag in the approval process and has just recently fixed the approval process with respect to AP and other honors courses, hoping this will speed up the application approval process,” Bowling said. “We also need to do a better job of supporting young professionals who desire to become Maryland CPAs. The CPA brand is synonymous with trusted advisor. However, there is a huge disconnect regarding what we are the trusted advisor for. We do not just perform audits or prepare individual tax returns. We are trusted advisors in cybersecurity, business growth, education, tax, financial, payroll, government, public and not-for-profit accounting, software systems, etc. We are disciplined professionals with the experience and knowledge to provide advice in one or many of these areas based on respective specialties. We have to do a better job marketing ourselves, in terms of what we do and the value that we provide.”

With education, whether it’s CPE or expanding one’s skill set, people often don’t know where to start. Bowling reminds us that the MACPA provides so many resources, and that help is but a phone call or e-mail away. Obtaining new skills and trying to stay ahead of the curve have always been among Samantha Bowling’s convictions — convictions that she continues to share with others.

SAMANTHA BOWLING

FUN FACTS! #1

Took an accounting class her

#2

First accountant in her family

#3

Started with Garbelman Winslow right out of college (1993)

#4

Became the firm’s first female partner (2005)

#5

Named after Samantha from the beloved 60’s television comedy Bewitched

junior year of high school and was hooked on accounting

Rob Nance is a content creator and curator for the Maryland Association of CPAs and the Business Learning Institute.

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STATEMENT

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MACPA’s 2018-19

BOARD OF DIRECTORS The MACPA’s 2018-19 slate of officers and directors was voted into place at the association’s Annual Meeting, held June 7 in Bowie. Here’s a closer look at this year’s Board of Directors.

Officers SAMANTHA BOWLING, CPA, CGMA CHAIR Employer: Garbelman Winslow CPAs Title: Partner Notable: An MACPA member since 1998. In July 2005, became the first woman to be admitted as partner at Garbelman Winslow CPAs. Recognized in April 2018 and 2016 as one of Maryland’s Top 100 Woman by The Daily Record. Founder and chair of the MACPA’s task force for Equality, Diversity and Inclusion. Advisory board member for Branch Banking and Trust Company (BB&T). An active member of the MACPA’s Southern Maryland Chapter Board since 1999. Her three-year term as a member of the AICPA’s Governing Council concluded in October 2017. Mentor for the AICPA’s 2016-17 Pilot Mentoring Program. Mentor and co-founder of the MACPA’s 2016-17 Pilot Mentoring Program and current mentor for the MACPA’s 2017 Program. Junior Achievement supporter and JA Biz Town volunteer. A 2014-18 sponsor of the MACPA’s Woman to Watch Awards and Student Leadership Academy. A 1993 magna cum laude graduate from Salisbury University. A member of the American Institute of CPAs, the National Association of Black Accountants, the AICPA Employee Benefit Plan Audit Quality Center, and the Maryland Chamber of Commerce. Team captain for the Avon Walk for Breast Cancer from 2005-11.

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STATEMENT

Officers RAY SPECIALE, ESQ., CPA VICE CHAIR Employer: Mount St. Mary’s University Title: Associate professor Notable: A member of MACPA since 1993. Since 1989, has been a professor of law and accounting at Mount St. Mary’s University. A commercially rated pilot and flight instructor who operates a law practice dedicated exclusively to aviation-related legal and tax matters. Has written two books and numerous articles on issues impacting aircraft owners and pilots. From 2007 to 2013, served as the educator member of the Maryland State Board of Public Accountancy.

AVONETTE BLANDING, CPA SECRETARY / TREASURER Employer: Maritime Applied Physics Corporation Title: Chief financial officer Notable: An MACPA member since 1999. In the early stages of her career, gained experience in finance and internal audit with one of Baltimore’s largest employers and in public accounting with a regional firm. Joined Maritime Applied Physics Corporation in 2006 as controller; a year later, was promoted to chief financial officer. An active member of the MACPA’s Government Contractors Committee and an active CPA Career Awareness volunteer speaker.

KENNETH KELLY, CPA, CGMA IMMEDIATE PAST CHAIR Employer: KK Advisory, LLC Title: Consultant Notable: An MACPA member since 1979. Has nearly 40 years of experience in business and public accounting.

Before founding KK Advisory in 2014, served as senior vice president and controller for McCormick & Co., Inc., a $4 billion S&P 500 company for whom he worked for 18 years. Previously served as controller for Black & Decker. Previously served on the Board of Directors of the joint venture formed between the American Institute of CPAs and the Chartered Institute of Management Accountants that launched the CGMA professional accreditation. An associate member and former Executive Committee member of the Committee on Corporate Reporting for Financial Executives International. An active member of the MACPA and the AICPA. A Maryland delegate to the AICPA’s Governing Council.

Directors CHRISTINE ASPELL, CPA Employer: KPMG LLP, Baltimore Title: Managing partner / audit partner Notable: An MACPA member since 1991. Has more than 25 years experience in providing assurance services to clients in the financial services industry and specializes in serving clients in banking, investment services, insurance, and real estate. Partner-in-charge of the Baltimore chapter of KPMG’s Network of Women, where she established the chapter in 2004. A member of KPMG’s Women’s Advisory Board, which helps oversee the advancement of women. Chair of the Loyola Accounting Advisory Board. A member of the Greater Baltimore Committee Board of Directors, the Downtown Partnership Board of Directors, the Center Club Board of Governors, the My Sister’s Place Leadership Council, the Maryland Zoo, the Girl Scouts of Central Maryland, the New America (Better Life Lab), and the St. Ursula School Finance Committee. A “Maryland Top 100 Women” winner in 2012, 2015 and 2018.

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MARK CISSELL, CPA Employer: KatzAbosch Title: CEO, president, director Notable: An MACPA member since 1985. Has more than 30 years of experience, and is closely involved with KatzAbosch clients throughout the Mid-Atlantic region. The services he provides include developing growth strategies, business and succession planning, and advising on mergers and acquisitions. A member of the Board of Directors of the Maryland Chamber of Commerce and the Maryland Business for Responsive Government. Also serves on the Dean’s Advisory Board for the University of Baltimore, Merrick School of Business. Recipient of The Daily Record’s 2016 Most Admired CEO Award.

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Directors JEFFREY COOK, CPA, CITP, CISA Employer: Coalfire Systems, Inc. Title: Principal Notable: An MACPA member since 2015. A seasoned information assurance and public accounting professional with more than eight years of IT audit and consulting experience and more than 16 years of experience in public accounting and auditing. Worked extensively on SOC via the AICPA and has supported both SOC 1 and SOC 2 engagements, in addition to providing IT audit support for traditional financial statement audits. Has created procedures and provided training on risk-based IT audit procedures for financial audits to meet AICPA standards for IT risk and has functional knowledge of NIST standards, FISMA, and FedRAMP. Heavily involved with the AICPA by volunteering as a member of the AICPA CITP credential committee and was part of the SOC 2 working group, helping to develop the 2018 version of the AICPA SOC 2 guide. In June 2016, was a recipient of the AICPA Information Management and Technology Assurance IMTA Standing Ovation Award for outstanding professional achievement in the IT specialization area.

LEON KATSNELSON Employer: IBM Title: Director and CTO, Strategic Partnerships for Data Science Notable: Joined the MACPA’s Board of Directors in June 2018 as a public (non-CPA) member. Award-winning international speaker and a published author who is always up on the cutting edge of technology trends. As director and CTO of IBM Strategic Partnerships for Data Science, leads a team of data scientists focused on artificial intelligence, machine learning, Big Data, and other applications of cognitive technologies in all areas of human endeavor. A strategic adviser to a number of startups, helping disrupt technology laggards with new business models based on blockchain, the Internet of Things, and A.I. ANDREW PAGE, CPA Employer: Under Armour Title: Vice president / corporate controller Notable: An MACPA member since 2017. Has global responsibility for controllership functions including accounting, SEC reporting and internal controls for Under Armour.

His responsibilities also include oversight of the company’s equity plans and due diligence related to M&A activities.

Joined Under Armour in 2011 as assistant corporate controller before progressing to his current role. Previously served as assistant controller for Discovery Communications, General Electric, AES Corporation, and FTI Consulting. Began his career as an auditor at Ernst & Young.

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KEITH PARKER, CPA Employer: Mortan Stanley Title: Financial advisor Notable: An MACPA member since 2008. Began his career as a PCA covering a broad range of industries, including asset management, retirement plans, real estate, non-profits, and health care.

With six years of experience as a CPA, he provides a combination of knowledge in accounting, transaction structuring, investment analysis, and portfolio construction.

A member of CFA Institute, the Baltimore CFA Society, and the American Institute of CPAs. A CFA charterholder, a licensed CPA in Maryland, and holds the Series 7 and Series 66 Licenses.

KAREN T. SYRYLO, CPA Employer: Karen T. Syrylo, CPA Title: Owner Notable: An MACPA member since 1978. Now a sole practitioner after having spent much of her career with Big 4 international accounting firms, where she was a state and local tax services group partner. Has specialized in multistate tax consulting services for more than 35 years, working with clients in a wide variety of industries on matters of multistate tax planning, compliance, and audit defense and appeals, in income tax, sales tax, property tax, unclaimed property, and other taxes.

The highlight of her tax career saw her initiate the Constitutional argument for the Wynne v. Comptroller case, which was ultimately successful in front of the United States Supreme Court. A longtime member and former chairman of the MACPA’s State Tax Committee, and a member of the planning committee for the annual Advanced Tax Institute. Has served on several tax study commissions established by the Maryland Legislature. Has been recognized as one of Maryland’s Top 100 Women by The Daily Record. Serves on the Board of Directors of Junior Achievement of Central Maryland, on an advisory committee to her county’s schools superintendent, and as co-chairman of the Maryland Chamber of Commerce’s Tax Committee.

DENISE K. WEST, CPA, CGMA Employer: Insight Homes, Inc. Title: Corporate controller and HR director Notable: An MACPA member since 1998. Has 20-plus years of accounting, finance and operations experience, specializing in several industries, including retail, residential home building, and commercial properties. Has been with Insight Homes, Inc., a residential home builder based out of Delaware, for the past two years. Her previous employment was with South Moon Under, a specialty apparel retailer, for 16 years, where she served as vice president of finance and operations. Has participated in the MACPA Women and Diversity Initiative Task Force and is active in the Eastern Shore community of Maryland.

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Kimberly Ellison-Taylor’s drive to advance the profession

BY RO B NANC E Most executives have busy, fast-paced schedules. It goes with the territory.

Kimberly Ellison-Taylor, CPA, CGMA, lives it, breathes it, and loves it.

The Baltimore native and past chair of the American Institute of CPAs recently wrapped up nearly two whirlwind years as the profession’s most visible and influential volunteer. She served as chair of the American Institute of CPAs from October 2016 through January 2018, and also served as chair of the newly formed Association of International Certified Professional Accountants (known in the profession as simply the Association) from July 2017 through May 2018. She will continue to serve on the Association’s Board of Directors through May 2019.

As a past chair of the Maryland Association of CPAs, EllisonTaylor has also served on many of its committees, including the New / Young Professionals Network and Tomorrow’s CPA. She has also been recognized by Accounting Today as one of the Top 100 most influential people in the accounting profession.

Ellison-Taylor is currently the global accounting strategy director for the Financial and Professional Services Industries for Oracle America, supporting the financial and professional services sectors. In this capacity, she provides insight to help drive innovation in this important domain, particularly as the computing paradigm shifts to the cloud and SaaS. Her work as a volunteer, though, has taken her to every corner of the globe as the profession’s biggest evangelist and most influential volunteer. As AICPA chair, she worked on behalf of the nation’s CPAs. As chair of the Association, she entered the profession’s international arena.

“These new technologies make our profession more exciting than ever.”

- KIMBERLY ELLISON-TAYLOR A SNAPSHOT OF KIMBERLY ELLISON-TAYLOR • AICPA chairman, October 2016 - January 2018 • AICPA’s first African-American female chairperson • Association of International Certified Professional Accountants chairman, July 2017 - May 2018 • Remains on the Association Board until May 2019 • Lifetime member of AICPA Council • Chair, MACPA Board of Directors, 2010-11

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When the AICPA and the Chartered Institute of Management Accountants overwhelmingly approved the creation of a new international association designed to represent the entire accounting profession while preserving the membership bodies of both organizations, this new entity because the world’s most influential body of professional accountants. It combines the strengths of the AICPA and CIMA to power opportunity, trust, and prosperity for people, businesses and economies worldwide.

“Enhanced resources for members in both public accounting and management accounting are critically important in today’s accounting and finance world,” Ellison-Taylor says of this strategic move.

The Association now represents 650,000 members and students in public and management accounting. It also advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability, quality, and competency of CPAs, CGMAs, and the entire accounting profession worldwide.

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The evolution of the profession is central to Ellison-Taylor’s devotion and work life. She says technology adoption is one of the biggest challenges still facing the profession. It’s also one of the profession’s biggest opportunities.

“We are in a competition with other industries,” she said. “We must keep up with technology trends. As a profession, we need to be a beacon, shedding light and providing awareness.”

A big question comes to mind for the accounting profession to consider moving forward: How can we leverage and embrace the rapid changes in technology? The Association is hard at work on how the profession can use technology and Big Data to enhance the quality of core services such as tax and audit. Ellison-Taylor says a huge factor in how that future work gets done relates to the talent pool.

As someone who became an active accounting volunteer at an early age, Ellison-Taylor holds the future of the profession close to her heart. Knowing the profession needs to attract and retain the right people with the right skills, she is adamant that it’s never too early to start educating young people about the profession.

How can we continue to attract the best and brightest talent to our profession? Ellison-Taylor said the profession must continue to take advantage of opportunities to speak with school kids, particularly in urban environments. Technology companies are doing this, and that helps make technology seem exciting to the kids, giving rise to what the profession must do in order to stay competitive on the development and recruitment front — tie that excitement for technology to careers in accounting.

From drones to artificial intelligence to augmented reality to blockchain, the profession looks almost unrecognizable from the days when its most experienced CPAs sat for the exam and started their careers. “These new technologies present an opportunity to show the next generation not only our innovative ideas but also that we are committed to meeting the evolving needs of the public,” Ellison-Taylor said. “We can show students the high level of service and the deep value that technology allows CPAs to provide.”

Without question, technological advances can provide the profession with more pervasive insight and analysis across an organization, yielding benefits to firms and clients alike.

Improved decision making, leveraging technology to reduce audit risk, and establishing a stronger competitive advantage and differentiation are measurable leaps forward.

As CPAs, we bring the savviness, understanding and financial acumen to clients and customers. Forged with a deeper acceptance, practice, and use of technology, we become much more enticing to young people as they consider career paths.

Is there a more diverse and inclusive profession on the horizon?

Kimberly Ellison-Taylor has much to say on this topic: “As for women, the accounting profession is making progress. We’re doing well, but we need better retention.”

While women have made great strides during EllisonTaylor’s time in the profession, research shows they are still underrepresented at senior leadership levels, which can be discouraging to young females who are starting their careers.

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As a big believer in mentorship programs, Ellison-Taylor says women leaders inspire other women (and men) by demonstrating that success can be achieved if you work toward it. During her time as chair of the AICPA, she traveled around the country and was looked upon as an example to other women in the profession. It’s important to Ellison-Taylor to continually demonstrate that women no longer have to choose between family life and having a successful career.

On the accounting profession and the black community, EllisonTaylor, a lifetime member of the National Association of Black Accountants, says, “There’s a lot more we can do — we are not near our potential on reaching the black and ethnic minority communities. Getting the best and the brightest includes women and minorities. I’m excited that firms are talking about inclusion and belonging because there’s a place for everyone at the table.”

What does the finance and accounting professional of tomorrow look like to Ellison-Taylor?

“In the future,” she said, “we’ll all be digital CPAs. There will be no discernable difference, no reason to even call it the Digital CPA.” What about state CPA societies? How do they fit in with today’s numerous associations and trade organizations, coupled with the short-term and long-term needs of CPAs? “The involvement in state CPA societies is so important,” she said.

How relevant are they today?

“State CPA societies are hugely significant,” she said. “They are on the front lines, boots on the ground. There’s absolutely no substitute for states promoting and protecting the public interest and regulatory functions on a statewide scale. Their dedication to knowing their environment, culture, business, government, and supporting the communities where you live is extremely important.”

In stressing the importance of continuous, lifelong learning, Ellison-Taylor says more possibilities than can be imagined will open up.

“Being a CPA changed my life,” said Ellison-Taylor, who recalled first being drawn to the profession as an 8-year-old student when careers were presented in her third-grade class. “For many people reading this article, particularly if they’re a first-generation CPA like me, being a CPA probably changed their lives as well.”

Ellison-Taylor has a lengthy history of volunteering for the profession, including serving as a member of the AICPA Business and Industry Executive Committee and the AICPA Board of Directors, where she served as a member of the Audit and Finance committees. She also worked with the Benevolent Fund and has served as an AICPA Council representative.

Serving as chapter president of Sigma Gamma Rho in Anne Arundel County, Maryland, a community service sorority, EllisonTaylor’s core is rooted in service — service to her community, service to young people, service to her profession, and more.

Shining the light of leadership and being an inspiration to others? Without a doubt.

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BUSINESS & INDUSTRY Best practices to implement a new business system B Y K ATE O ’F LA HE RTY Note: This article first appeared in Financial Management magazine. For more articles, sign up for the daily e-mail update “CGMA Advantage” at http://bit.ly/2svn2AY. HOW TO SELECT AND IMPLEMENT A NEW SYSTEM To select a new system, it is important that companies understand their unique needs, ideally making a list of issues and requirements to be addressed. As part of this, Kushner advised: “Ask, what are your goals? What is your internal scope?

Whatever those parameters are, it’s very important they are formally documented and agreed upon.”

Then it is time to look for a reliable IT partner to help advise on and implement the new system.

Technological innovation, new regulations, and corporate changes require upgrading or replacing legacy business systems to allow businesses to streamline processes and increase efficiency.

Companies are also seeking integrated systems to streamline data and increase automation in finance departments. They are generally looking to fulfil a need that is not being met by their current systems and processes, said Jan Kushner, CPA, CGMA, at the 2017 AICPA Financial Planning and Analysis Conference in Las Vegas.

At the time, Kushner was a project manager with Source Consulting Group, a strategic and operational business process and technology consulting group. She is now manager of tax compliance, finance, and administration at the Project Management Institute, which represents more than half a million project managers worldwide.

“It could be putting in a system for one particular function, like income tax provision, or it might be a whole new ERP (enterprise resource planning) system,” Kushner said. “At the same time, other companies are using a selection of systems that are going to integrate with each other.”

In some cases, the chosen system will be used primarily or exclusively by finance. However, finance can also be involved as a partner with another group implementing a solution.

Many human resource departments, for example, have adopted Workday, an HR management system that can handle multiple projects across different functions, Kushner said.

Using a cloud-based tool such as Workday is an alternative to an in-house ERP solution, so its impact must be considered.

Finance can also be involved in overall implementation on the budget side. “There is the budgetary concern of ‘can we afford this’ and ‘does it make sense to choose this from a cost method and analysis perspective,’” Kushner said. “This is where finance is both the partner and the adviser.”

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The Farrer Park Co. in Singapore, which builds health care and hospitality complexes, expanded and in 2011 needed an ERP system to help streamline accounting processes while maintaining internal controls. The new system went live in 2013.

Lisa Mok, ACMA, CGMA, financial controller at The Farrer Park Co., said she advocates a sound project methodology and having subject-matter experts on the issues being faced. “They should have an idea of what needs to be done and how to do it,” she said via e-mail.

Organizations must be careful to assess the capabilities of their providers. It could require asking for more technically sophisticated people or talking to other clients already using the products to discover the pitfalls that must be avoided.

“Read the contract very closely, assume nothing, question everything, and make sure you are absolutely comfortable that what you are expecting is exactly what they are going to be providing you with,” Kushner said.

It is also important to ensure the vendor is credible and has good knowledge about the ERP product to be implemented.

STATEMENT

BUSINESS & INDUSTRY When implementing a new system, Mok advised a step-by-step approach: • Identify, verify, list, and document all potential issues.

• Internally, these issues should be discussed, completed, and vetted.

• Seek vendors, and invite requests for proposals.

• Meet and determine the right vendor to work with, based on qualities such as industry knowledge, experience, and communication skills.

• Understand how the system will be implemented, and commit resources.

• On implementation, identify the main issue and the solution.

• Identify key constraints.

• Identify prerequisites for the solution.

• Plan accordingly.

Other considerations • Costs vs. benefits: In terms of implementation costs and user licence fees, as well as post go-live support.

• Whether the server is on premise or in the cloud.

• Cybersecurity.

• Data security and data privacy.

• Business continuity.

AI

OVERCOMING CHALLENGES When implementing any new technology, there are challenges to be overcome.

“Resource — people, time, and budget — is almost always the key issue,” Mok said.

Companies also need to decide whether to configure or customize software. These options are not the same.

“A configuration is choosing from a series of sometimes infinitely long lists of options, and customization is essentially putting in new code,” Kushner said.

But the latter can increase costs as systems are upgraded.

“You need to ask: Does this customization work in this new version? If it doesn’t, it’s going to cost you to maintain that customization, to tweak it and keep it functional as you upgrade,” Kushner said.

“Do you really need it? Is there a way that the system can meet your need without it?

Is it a regulatory requirement?”

Change management is another challenge often encountered during any implementation. As part of this, training is essential.

“Make sure everyone knows what they are doing when they go live,” Kushner said.

“If no one knows how to use it, it’s not much of a system.”

Kate O’Flaherty is a freelance writer based in London. To comment on this article or to suggest an idea for another article, contact Sabine Vollmer, an FM magazine senior editor, at Sabine.Vollmer@aicpa-cima.com. © 2018 Association of International Certified Professional Accountants. All rights reserved.

She conceded that every company will use customizations at some point, but she said it is important to use them sparingly and cautiously. As part of this, Kushner said, organizations should ask themselves:

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BUSINESS & INDUSTRY How to develop the mindset of an innovative thinker B Y M A R SH A H U BE R, CPA , CG M A Note: This article first appeared in CGMA Magazine. For more articles, sign up for the daily email update CGMA Advantage at http://bit.ly/2svn2AY.

To get employees to be more creative, Fidelity Investments introduced design thinking, a method that strives to resolve problems through innovation.

When Srikant Datar wrote Rethinking the MBA, the Harvard Business School accounting professor concluded that business schools did an excellent job of teaching operational skills — decisionmaking, marketing, distribution, procedures. But the students lacked training in innovation.

Innovation is about “experimenting, connecting dots, exploring, prototyping, trying, and this is a different set of skills,” Datar told his students in a Harvard seminar.

Recognizing this, he created a designthinking course to help students become more creative thinkers.

Design thinking is a method that developed in architecture, urban design, and engineering in the 1970s and ‘80s. It uses a standardized process that emphasizes empathy, observation, ideation, and prototyping as core processes leading to out-of-the-box thinking.

Being creative requires uncovering insights about customer needs by putting oneself in the customers’ shoes and experiencing what they feel. This phase, called empathy, is where a design thinker conducts ethnographic research and listens to what a customer is saying, watches what they are doing, ponders what they are thinking, and imagines what they are feeling.

This process helps overcome fixedmindedness, which hinders innovation.

“The more expert you are on a subject, the more fixed you become,” Datar said in an interview with the Association to Advance Collegiate Schools of Business.

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Datar describes different types of fixedness.

For example, functional fixedness is thinking there is only one function for a car, and that is to transport you or your family.

Uber and Lyft break functional fixedness.

Structural fixedness is believing something must be done in a particular order, such as how to clean a plane between flights.

Southwest Airlines breaks this mold by sometimes asking customers to place the seatbelts a certain way and cleaning the seats as they are unloading.

Relationship fixedness is believing interactions between companies and customers are fixed. For example, interactions between insurance companies and customers occur only when there is trouble. Interacting with customers with a rewards program for wellness breaks this traditional relationship.

One company that uses design thinking to break relationship fixedness is Fidelity Investments. The privately owned financial services company, with revenues of $15.9 billion and 45,000 employees, wants all its employees to have a designthinking mindset. Fidelity uses designthinking teams to tackle problems and to devise unique solutions that meet customers’ needs.

Andrea Leitner, design strategist at Fidelity Labs, a division of Fidelity Investments, explains her background and how Fidelity uses this multidisciplinary approach to solve business problems:

Q: How would you describe the design-thinking process?

Leitner: I prefer to think of design thinking as a mindset more than a process. It is really about having a deep understanding of your customer and the people you serve. We speak a lot about empathy for the customer in our practice and the importance of bringing that understanding to the decisions that we make. If we speak in terms of the process we employ at Fidelity, design thinking is critical in understanding the problem we are trying to solve. That is true for both internal business partners and for understanding the problems of our clients.

Q: In Fidelity’s search for a new design director, the job description says, “You will make sure the human voice is never lost in decision-making.” What is so important about the human voice?

Leitner: It is so important to first understand the problem you are trying to address from the human / customer perspective but then also keep that front of mind throughout the development of a product. Throughout the process of designing a new product or service, I think it can be easy to be consumed by other factors. It is the role of the design thinker of our teams to bring the voice of the customer into all the decisions we need to make throughout the development. It is critical to the success of a product.

STATEMENT

BUSINESS & INDUSTRY

Q: How do you do that?

Leitner: We first determine who we should be talking to regarding the problem space.

Oftentimes in design thinking we use extreme users to understand the thinking and recognize behaviors of people. As an example, we could speak to early adopters or potential adopters of a technology. As a team, led by a design thinker at that point, we will go out to the field to listen and observe people. We want to understand what is happening for them. As we say, “We meet them where they are.” Throughout the design process, we go back into the field to test our prototypes and ideas to understand if they are addressing the needs of the customer and resonating with the user. Design thinking as a process is iterative — always going back to the customer, but also always keeping the customer front of mind.

Q: Can you give us an example?

Leitner: We did a round of research with what we refer to as the young family — a family with young children that is likely experiencing a high level of financial complexity. The hypothesis was that they do not have a lot of time to inform themselves and make financial decisions. With children

JULY 2018

under 5 years old, they are potentially changing their 401(k) (retirement plan) contributions, maybe purchasing a large home, or deciding how best to contribute to their child’s education. In that research, we speak to both parents, if there were two, in the home. We met, listened, and observed what is truly happening in the lives of these families.

Q: What are the potential pitfalls?

Leitner: One of the mindsets of design thinking is to fall in love with the problem, not the solution. One of the pitfalls is that people get really excited about what they (think) the solution might be. Often it can be an allure of a new technology capability that has a team solution-focused, instead of understanding the real problem. That is why the design-thinking process constantly brings it back to the customer.

Q: Can you tell us how design thinking is being integrated at Fidelity?

Leitner: We have one team of design thinkers within Fidelity Labs, but we work to integrate it into Fidelity in different ways. A part of the team works to bring the customer into the process of new product and service development, and a part of the team propagates the design-thinking

mindset and customer-first mentality throughout the firm. In our new product space, there are major projects that address the student loan crisis, as well as initiatives in the financial wellness space. The team that promotes design thinking throughout the firm often works to bring in outside perspectives, and a huge success they have had recently is the launch of a Design Thinking Club. The club allows associates from across the firm to participate in handson learning and speaking events.

Q: Is design thinking appropriate for all companies?

Leitner: I believe it is, yes. It is obviously imperative for a business-to-consumer company. I think it is interesting as well in a business-to-business context, as in the mindsets of understanding the problem and having empathy for your users is always important. It is about people.

Marsha Huber (mmhuber@ysu.edu) is an associate professor of accounting at Youngstown State University in Youngstown, Ohio. © Association of International Certified Professional Accountants. All rights reserved.

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STATEMENT

FUTURE READY The key to future-readiness: Learn faster B Y M I C H A E L WH E RRY All around us, we’re hearing about the firm of the future, transformation, technology taking jobs away, etc. It’s a lot to take in.

In fact, some people find it impossible to keep up with.

But I have one trick that anyone can use to help them navigate the world today: Commit to continuous learning.

If I had to name one thing that helped me make the leap from traditional CPA to consultant, it would be all the reading I have done in the past two-plus years. I owe this focus to our culture at Boomer Consulting. One of Gary Boomer’s favorite quotes comes from Charlie “Tremendous” Jones: “You will be the same person in five years as you are today except for the people you meet and the books you read.”

Because we believe in the truth of this statement, we each have a goal of reading 15 books per year. But it’s not just vital for professionals on the consulting side of the profession; it’s good advice for anyone.

Because if you agree that your firm needs to change, then you need to either meet new people or start reading. I would argue that reading will make it easier to for you to meet new people. So start reading.

I’ve lost track of the actual number of books I’ve read since joining Boomer, but one of the biggest “A-ha” moments I’ve had while reading is that the entire world is experiencing the same disruption and transformation that the CPA profession is dealing with right now. It’s impacting your clients, too. When you start reading, you’ll grow more comfortable talking to your clients about the changes that are upon us.

I recently read Thomas L. Friedman’s Thank You for Being Late. In the book, Friedman references a conversation he had with Eric “Astro” Teller, captain of Moonshots at Google X’s research and development lab. The conversation describes how technology and human adaptability are impacted over time.

JULY 2018

Quoting Teller, Friedman writes, “Even though human beings and societies have steadily adapted to change, on average, the rate of technological change is now accelerating so fast that it has risen above the average rate at which most people can absorb all these changes. Many of us cannot keep pace anymore.” Later, he added, “When the pace of change gets this fast, the only way to retain a lifelong working capacity is to engage in lifelong learning.”

My first takeaway is that Charlie “Tremendous” Jones was ahead of his time. We are at a time when the speed of technological change has surpassed our ability to keep up. The only thing we can do about it is learn faster, or in some cases, start learning again. Learn fast, try fast, succeed or fail fast, repeat fast or start over fast.

If that sounds too abstract, let’s zero in on some changes within and outside the profession. Who remembers when we transitioned from the 14-column ledger paper to electronic spreadsheets? From spreadsheets to robust trial balance and engagement management software? It wasn’t a big deal to skip the spreadsheets and move from manual work papers to trial balance software.

Or do you remember the days when messages were dictated and then typed up by another person? Were you able to skip e-mail or were you forced to adopt e-mail? Today, kids in high school hardly use e-mail. They’re more comfortable texting and using instant messaging apps.

How long will we continue using e-mail as a significant communication tool? I’m not sure, but I know it’s going to change.

Asking these questions will get you more comfortable with the rate of technological change and allow you to focus on the opportunity rather than feel overwhelmed.

Then you can dig into the real questions that should come from your reading: • What do we need to do with our current service offering to take advantage of emerging technologies?

• How much more efficient and effective can we get with our service offerings?

• What new service offerings should we focus on?

You can focus on aligning your firm with new opportunities and develop a plan to take advantage of technology and engage clients in new ways.

Keep your continuous learning mission in mind when you choose the continuing education classes you’ll take and the conferences you’ll attend. Put them all together, and you’ll be well equipped to recognize and leverage opportunities.

Now is not the time to wait and see what happens. As the rate of change continues to accelerate, the gap between our technology and our ability to adapt to it will only get bigger, and waiting will only make the learning that much harder.

As a CPA, consultant and Lean Six Sigma “black belt” for Boomer Consulting, Inc., Michael Wherry leverages his past CPA firm experience to provide factual, reliable and thorough results on client engagements.

He now focuses on Lean Six Sigma projects and training, strategic planning, technology planning and engagements designed to fulfill the custom needs of CPA firms across the country.

This change is an opportunity to dust off your learning skills. Start reading as much as you can and think while you read: • What is in this for my clients?

• What is in this for me?

• How will this impact the future?

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FUTURE READY New e-books offer steps toward future-readiness for CPAs, finance professionals B Y B I L L SH E R IDA N , CA E Publications from Maryland Association of CPAs, Business Learning Institute available free for download.

The e-books describe “five strategic and practical steps that anyone can do to become a future-ready CPA or finance professional,” said Tom Hood, CPA, CEO of the MACPA and the BLI. “The guidance applies to every role in any firm or organization. These five steps, applied through the lens of your particular expertise and experience, are what can help you anticipate change and prepare for it. It’s a new set of eyes and a new set of tools that only you can bring alive in your context of where you are professionally.”

Those tools couldn’t come at a better time.

With new technologies poised to redefine the world of finance, one of the most important skills accounting and finance professionals can own today is futurereadiness — the ability to be aware, predictive of, and adaptive to emerging trends and technological innovations.

The Maryland Association of CPAs and its learning and innovation center, the Business Learning Institute, are bringing that skill to the masses.

The organizations have released a pair of e-books that will help accounting and finance professionals become more futureready.

• Get Ready for the Fast Future: Five Steps Toward Building a Future-Ready CPA Firm is aimed at CPAs who work in public practice.

• Human Work in the Age of Machines: Five Steps for Building a Future-Ready Finance Team is aimed at accounting and finance professionals who work in business and industry.

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Art Bilger, a venture capitalist and expert at the Wharton School of Business, says technological advances will help eliminate 47 percent of the jobs in all developed nations in the next 25 years — that’s blue-collar and white-collar jobs. Moreover, says The Economist, “no government is prepared” for that level of job loss.

Other studies aren’t quite that alarmist, predicting that more jobs will be significantly altered than eliminated. Still, that change will be extreme. A McKinsey Global Institute study predicts that at least 30 percent of the activities in 60 percent of all occupations can be automated over the next decade, from welders to gardeners to CEOs. One way or another — complete automation or partial — our jobs are about to change.

“Forces of change aren’t something that we can or should fight. We’re not going to slow down change. We’re not going to make technology obsolete. What we can do is be ready for it. We can put ourselves in a place where the future helps us, not hurts us. That’s what being a future-ready finance professional is all about. Don’t fight change; leverage it, for the benefit of your career and organization.”

The e-books can be downloaded for free from the Business Learning Institute’s website. They are accompanied by an online quiz that will gauge readers’ futurereadiness and provide access to additional resources that can help them become even more future-ready.

DOWNLOAD THE WHITEPAPERS HERE: Get Ready for the Fast Future: Five Steps Toward Building a Future-Ready CPA Firm http://futureready.blionline.org Human Work in the Age of Machines: Five Steps for Building a Future-Ready Finance Team http://futureready.blionline.org/finance Bill Sheridan, CAE, is editor of The Statement and chief communication officer for the Maryland Association of CPAs and the Business Learning Institute.

“How will the disruptive forces of technology and automation affect your organization and career? This is the most important thing for CPAs and finance professionals to pay attention to right now,” said Hood.

STATEMENT

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FINANCIAL PLANNING (Live like) you’ve been hacked B Y TO B Y M U S SE R Sure, you could live as if your personal information is secure, but the truth is that your information is out there, and it is for sale.

Thank you, Facebook and Cambridge Analytica, for bringing to light the manner in which data is mined for profit and power. Gone are the days when anyone (everyone) can say they are “too small” to matter online. When you factor in things like your credit and finance history, your social media presence (no matter how small), the websites you visit that require a login, the apps you download to your various devices, and even your search history, you have a large digital footprint in the world. That, my friend, makes you a target. While you may not consider this as a “hack” per se, the data can still be used, costing you time and damages. Beyond the data you have volunteered to these corporations, your information has most likely been leaked through various “hacks” you have heard about in the news. #Goals: A good digital posture This is not about sitting with a straight back in front of your monitor (though that is good advice) but rather putting in place some safeguards as part of good habits that minimize your risk.

Know what is out in the digital wilds about you. Sure, you can Google your name to see what pops up, but when was the last time you laid eyes on a credit report? Have you ever requested a LexusNexis Personal Report? Know what others (the good guys and the bad guys) know about you that is (literally) public knowledge. This allows you to factcheck what is contained in the reports and informs you of what activities are logged.

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Practice safe browsing. You should be very, very choosy about who you share your personal information with. For instance, when you sign on with a subscription service to get your dog or cat food delivered, they do not need your birthdate, political affiliation, or marital status for instance. As a consumer, you have power. There are plenty of competitors with whom you can do business who will respect your right to privacy. When you’re looking around on the web, look for the lock in the address bar of the site to see if it is protected. If the URL bar says HTTPS and shows a lock, that means any information you send is secure.

If there is no lock, understand that every little bit of data you input is out in the wild for people to use. However, even if there is a lock, it still does not provide any assurances that your data is not for sale.

Don’t daisy chain your accounts together. If you are creating a new account somewhere, you may be offered to use Facebook (or Twitter) to login to that site to streamline your process. Don’t do it.

Choose a different method like an e-mail address and unique passphrase. Make the hackers do more work to access all your data — not a golden key with one login to all of your data. One strategy is to create a different e-mail address that you can use for logins to social media and shopping websites.

Lie. When a website asks you for three questions to add additional security, don’t tell them your first car, hometown, and your dog’s name. Much of this information is now for sale or available for free on the web. Instead, answer questions the way your favorite uncle might answer them — so that you can remember the answers, but hackers can’t easily guess.

Use multi-factor authentication.

Occasionally, we get a call telling us, “You said to use a passphrase, but XYZ site does not let me!” In these cases, see if you can enable multi-factor authentication – or in English, get a text message with a code or pull up a code in an app – in addition to your login password. Each layer adds safety to your digital life.

The just-do-it-already list. These are the things you know you need to do, but you just haven’t gotten to them yet. Update your computer and device software and firmware, create complex passphrases, and have unique passphrases for different websites. Please don’t click on ads in your web browser, and please hear our loud, persuasive plea to refrain from using unsecured wi-fi. (Don’t even think of using it!) And never, ever open an attachment from a stranger or colleague that you were not expecting.

Toby Musser is a serial entrepreneur and CEO and owner of MNS Group, a technology outsourcing and consulting company based in Bel Air and a trusted leader in company IT management that offers managed services to support small businesses and their humans.

LEARN MORE AT THE 2018 PFP CONFERENCE MNS Group CEO Toby Musser will examine IT security in detail as part of the MACPA’s 2018 Personal Financial Planning Conference, scheduled for Oct. 23 at the Sheraton Baltimore North in Towson. Further details and registration information are available at MACPA.org/pfp.

STATEMENT

PUBLIC PRACTICE Thinking about customer service from both sides B Y R O B N A NCE

Delivering exceptional customer service.

Most public accounting firms would like to do this, and most do.

With a plethora of moving parts in that wheel of sensational customer service, it’s easy to get lost in the haze of what is critically important and what is less important. Many people have published lists related to instilling and growing a customer service culture in accounting firms – and what is on those lists is as varied as the autumn leaves in Garrett County.

If you’re looking for five hard-hitting components of customer service to focus on, here’s what I think is a pretty good starting point. This list by Steven MacDonald covers a lot of ground.

“Respond as quickly as possible” is MacDonald’s first point. Sadly, I’ve heard some accountants say they have “gone days” before replying to client e-mails and calls. I know I’m preaching to the choir, but that doesn’t cut it in today’s

JULY 2018

world. If you leave a message for your car dealer’s service department and they don’t acknowledge your voicemail or e-mail for three, four or even five days … how happy would you be? My guess is that you would be looking for a new car servicing option.

“Knowing your customers” is a solid point and it’s more important now than ever. Such relationship-building and insight development provide the service professional with an even tighter connection to the customer or client. The more you know, the harder it is for them to leave you.

How do you react when situations don’t go as planned for you as a customer? We’ve all been there, whether it’s picking up the cake you ordered at the supermarket and the name is misspelled, a surly clerk at the hardware store, or the untrained server at The Cheesecake Factory.

When clients ask accountants for something, the first inclination is typically to give it to

them, right? We’re largely a profession of helpful, caring people. We are servants to our clients – and proudly so.

But what about when customers don’t have a glowing experience? Marketing research has shown that it takes a dozen positive experiences with a typical business for a customer to get over one negative occurrence. Go ahead and apply that bit of data to your clients and to your accounting firm.

How easily is your public accounting firm or company making it for your customers to do business with you? A customer who does not love you is only a short slide away into doubt or animosity.

Take a look at MacDonald’s list and consider each point as it relates to your firm.

Rob Nance is a content creator and curator for the Maryland Association of CPAs and the Business Learning Institute.

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One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. The statements, analyses and opinions expressed in this publication are those of the respective authors and may not necessarily reflect those of any third parties including the CNA companies. “CNA” is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the “CNA” trademark in connection with insurance underwriting and claims activities. Copyright © 2017 CNA. All rights reserved.

E-12703-917 W

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STATEMENT

HIGH-TECH SOLUTIONS Is the password dying?

B Y J I M B O O ME R ONE-TIME PASSWORDS One-time passwords, or OTP, are an authentication mechanism that uses nonpersistent passcodes that are valid for only one session. For each login attempt, a passcode is generated and sent to the associated phone number or email address.

The user has to enter the passcode to access the account, and it is only valid for the duration of one session. Subsequent logins require a new passcode.

Think of all of the passwords you manage right now. How many of them are written down? Do you use the same password for multiple websites?

We know these actions put our data at risk, but we do them anyway because otherwise, we couldn’t possibly remember the hundreds – if not thousands – of passwords we’d need to memorize for all of the apps, devices, and websites we use in our personal and professional lives.

It’s not hard to see why people don’t like passwords. We share a lot of sensitive personal information with companies, including Social Security numbers, health records, and bank account and credit card numbers. Even password managers don’t eliminate the risk, but they do have features that will help you to minimize it.

No matter how careful you are with your passwords, your data is increasingly vulnerable to hackers. Accenture’s recent report Digital Trust in the Internet of Things Era polled 24,000 consumers in 24 countries and found that fewer than half (46 percent) feel confident in the security of their personal data, and that 77 percent indicated they’re interested in using password alternatives to protect their information.

Just a few years ago, those alternatives were rare and expensive to adopt, but today the shift away from passwords is accelerating. So let’s take a look at the options out there.

MULTI-FACTOR AUTHENTICATION While multi-factor authentication often uses passwords, it also requires one or two additional pieces of information.

Strong authentication requires two or more of the following: 1. Something you know. A password, PIN, or answers to previously established security questions.

2. Something you have. A physical object in your possession, such as a token or text-enabled phone.

3. Something you are. Biometric features such as a fingerprint.

JULY 2018

BIOMETRIC AUTHENTICATION I touched on biometric authentication above, but it involves much more than just a fingerprint. Facial, voice recognition, and iris scanners are the most popular methods after fingerprints. But companies are experimenting with many more biometric authentication methods to replace passwords, including heartbeat recognition, vein recognition, hand and finger geometry.

PICTURE PASSWORDS Microsoft introduced an alternative to traditional passwords with Windows 8.

With a touchscreen PC, you can use a finger to doodle on the Windows wallpaper. That doodle becomes your password.

For example, suppose your wallpaper has a picture of a road leading into the mountains. You might trace the sides of the road with your finger, then circle the highest mountain peak. Those gestures become your password. To log into the computer, you simply perform the same doodle, in the same sequence and direction as they were originally performed.

While each of these technologies has their own benefits and pitfalls, almost everyone agrees that passwords alone are too insecure for modern use. Our digital world requires more privacy and security than passwords can provide.

We’ll likely see a decline in password use in the next few years as alternatives supplement or replace them.

Jim Boomer is CEO of Boomer Consulting, Inc. He is an expert on managing technology within an accounting firm and serves as director of the Boomer Technology Circles, The Advisor Circle and the CIO Circle.

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HIGH-TECH SOLUTIONS Blockchain is real-world, here and now B Y R O B N A NCE Human error is a leading cause of accounting mistakes. According to AccountingWEB, nearly 28 percent of professionals reported that people plugged incorrect data into their firm’s enterprise system. To that point, Deloitte’s whitepaper Blockchain Technology: A Game-Changer in Accounting? states, “The recently emerged blockchain is a trustless, distributed ledger that is openly available and has negligible costs of use. The use of the blockchain for accounting use-cases is hugely promising.

From simplifying the compliance with regulatory requirements to enhancing the prevalent double-entry bookkeeping, anything is imaginable.”

So, is it important now?

Perhaps you’re an expert on blockchain technology, you’ve never heard of blockchain technology, or you’re somewhere in between. Regardless, it’s landed on the beach and it’s here to stay.

Given blockchain’s growth in importance and use, strategic discussions on this technology have been taking place for quite some time. In fact, very recently, more than 60 accounting firm leaders and innovators gathered for a symposium that was hosted by the Association of International Certified Professional Accountants and CPA.com.

The focus was on blockchain’s impact on accounting, auditing, tax, and finance.

The rise of blockchain has led to a need for more understanding in the CPA profession, sparking the Blockchain in Accounting Symposium that took place on May 2.

Being part of a larger collaboration with the Wall Street Blockchain Alliance, a leading non-profit trade association promoting the adoption of blockchain across global markets, the event addressed the implications for the accounting profession.

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“The Wall Street Blockchain Alliance is proud to be part of this accelerating effort to guide the evolution of the global accounting profession in a future with blockchain technology,” said Ron Quaranta, chairman of the group. “Across the range of accounting workflows, from auditing to tax, financial reporting and beyond, we look forward to our continued joint efforts to advance the world of accountancy and its use of blockchain technology.”

So, what is blockchain and how does it work?

It’s an open, decentralized, transparent, distributed ledger that records and verifies transactions without any central authority.

And since accountants often work in the verification business, this technology might transform our profession more than any other. Literally, any of the back-office processing functions could theoretically be displaced by blockchain.

Susan Coffey, CPA, CGMA, executive vice president for public practice for the AICPA, said, “We expect blockchain will impact all areas of practice.”

“Accountants need to familiarize themselves with the technology so they can trust the data it produces,” said Byron Patrick, managing director of Network Alliance and a former chair of the MACPA’s board of directors.

“There’s no question that blockchain will have a significant impact on the accounting profession. The underlying technology addresses many of the security and privacy challenges that been major vulnerabilities in the existing technologies we use today. Having a foundational technology that speaks directly to the concerns of accountants — data integrity, trust, and privacy — solutions will be created that will enable reliable data for all types of business information that goes far beyond currency.”

Far beyond currency, indeed. In his book The Blockchain Revolution, Don Tapscott says almost anything you can transmit electronically – which is almost everything today — can be securely transmitted, accounted for and verified via a blockchain.

That includes deeds, mortgages, stocks, transactions, inventory … all of that is ripe for blockchain.

Rob Nance is a content creator and curator for the Maryland Association of CPAs and the Business Learning Institute.

STATEMENT

Attention CPAs:

Whether A Decision Maker Looking To Upgrade Your Talent, Or A CPA Looking to Upgrade Yourself/Your Skills, Ask Yourself: Who really chose who in joining your company?

Are you/your professional staff really at the right level where you should be/you need them to be?

Are you/your staff in a position that truly suits your/their personality, values, and professional and personal needs?

Why leave your future to chance?

If you’re seriously interested in making the “right” move for your next hire, I can help you.

I am an actively licensed CPA in Maryland and Virginia and CGMA with over 20 years of experience including public accounting (E&Y) and consulting (KPMG), financial accounting (American Cancer Society), internal audit (Telerate, now part of Thomson Reuters), and recruiting. As a networker who truly enjoys helping others and sharing my career experiences to guide fellow professionals, including writing articles for the AICPA, here is how I can help you: Decision Makers:  Ask you questions, and most likely ask many more questions than other recruiters about your company, duties involved, skills required, corporate culture and more  Work with you on finding the “right” professional that is the “right fit”  Provide you with valuable information about the professionals I work with, the marketplace, what your competitors pay, and more Career Seekers:  Guide you on career paths available in public accounting and industry  Enable you to capitalize on your strengths  Coach you on how to put your best foot forward to find the “right fit”  Advise you when to stay in your current position if that is the right move If you’re interested in working with a recruiter who understands your background, skills, and is genuinely interested in helping you find the “right fit”, then I welcome meeting you!

BETH A. BERK, CPA, CGMA Independent Recruiter

Phone: 301-767-0670 Email: BethABerk@msn.com

Specializing in CPA Firm, Accounting & Finance Positions in Metropolitan DC/MD/NoVA & Baltimore and nearby Suburbs and Richmond/Tidewater too Connecting You To Your Next Hire

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matching skills, experience & values with needs Serving clients and professionals as an Independent Recruiter since March 2005

JULY 2018

27

FROM OUR PARTNERS The IRS is issuing thousands of ACA penalty letters to employers with more than 50 employees B Y J O H N TU N N E Y In late 2017, the IRS announced that it would be sending thousands of penalty letters to employers for reported failures to comply with the employer mandate provisions of the Affordable Care Act for the 2015 tax year.

Code §4980H requires applicable large employers (ALEs – those with 50 or more full-time equivalents) to offer coverage to full-time employees. IRS Commissioner David Kautter estimates that the IRS has sent roughly 10,000 226J enforcement letters since last fall, but noted that more than 80 percent of them have been resolved with no fines owed by the employer. I share this factoid to point out that often there is a simple explanation attributable to an error of some kind — many times a simple coding error that, once documented, will most likely result in the IRS waiving the penalty altogether. However, that result may be at achieved after incurring some significant, unbudgeted legal expenses with an ERISA attorney in support of drafting the response to the IRS. This article is not intended to address the steps to take to respond to the IRS if your firm or a client receives a 226J letter. SIG and many other employee benefits firms can provide guidance on what steps to take.

Instead, I am attempting to highlight for you, the practitioner, some tips or “red flags” to bring to the attention of your client, whether it be a sole proprietor, partner, or investor that pays your recurring fees. The last thing you want is to lose a client over a mess that could have been avoided, or its occurrence at least minimized.

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Here are some tips for what to look for so you’ll know if your client is ACA tested or not: • Assess the person responsible for managing the completion and filing of the 1095-C / 1094-C forms. If you can, ask questions about their background and capabilities. I am a CPA and I still find completing the forms can be difficult at times, especially if a complex situation arises. Too often these reporting responsibilities are handed off to employees that manage the day-to-day administration of benefits for a company, but are not fully trained on the ACA requirements and complexities. That’s not to say they are not capable of handling the reporting – just that you want the client to be sure that they appreciate that the penalties can be large if not handled properly.

In the end, they are tax returns and require attention to the details.

• Review the client’s existing record keeping practices. The 2015 forms are just now being audited by the IRS. We have a new client that filed electronically for 2016 and failed to retain a PDF record of the submission.

The person who filed the forms is no longer with the company, and keep in mind that a response is required within 30 days of receipt of a 226J letter.

• Recommend a review of the draft 1094/1095-c forms by a professional with a deep understanding of the ACA reporting responsibilities. If a client is filing without professional assistance from their ERISA attorney, CPA or benefits consultant, recommend a review of the final forms. We are currently working with a prospect that did not completely understand the

impact of a wellness incentive on the low cost plan employee only contribution, which is required for ACA reporting.

As a result, they filed incorrectly for 2016 and had to refile their forms at their expense.

• Consider corporate structure and parent/child relationships. Too often a client neglects to advise the person preparing the 1094/1095 forms about a side business that they have a significant interest in. As a result, the preparer may be unaware of or neglect to include those employees during the preparation of the forms.

• Recommend training. There are countless resources available to your client to learn more about the ACA and the related reporting requirements.

SIG, a Baltimore-based Alera Group company, conducts frequent human resources roundtables and webinars on the topic. We recommend they contact their benefits consultant for more information on what is available.

The tips and concerns highlighted above are just a short list and I am sure there are others. You might consider reviewing these with your client. Of course, not everyone will take your advice or suggestions, but at least you will have made an attempt to minimize your client’s risk of penalties under the employer mandate.

If you have any questions, please do not hesitate to reach out.

John Tunney is vice president of Client CFO Advisory Services at SIG. He can be reached at (410) 769-7750.

STATEMENT

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JULY 2018

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STATEMENT

FROM OUR PARTNERS Accountants are facing a new future — and technology is the tool to help get us there B Y J E N NI FE R WA RAWA Industries across the gamut are transforming, and accounting is no exception.

Accountants today are facing a drastically different landscape than what was common 20 years ago. The widespread introduction of technology into any workplace can create heightened anxiety in any profession — and the financial services industry is no different.

But are the industry changes driven by technological advancements, or is technology just the solution to our changing needs?

At Sage, we found that technology alone is not transforming the industry — you are. Increasing client demands are changing our role as accountants, and it’s accountants who are really leading the transformation and adopting technology to help them adapt.

To better understand the challenges and opportunities accountants are facing, Sage conducted research with 3,000 accountants in countries throughout the world, including the United States, the UK, Canada, Brazil, Spain, France, Australia, and Ireland. We found some interesting results that can help accountants as we all move forward in this changing landscape.

Client expectations are growing. Eightythree percent of accountants surveyed said clients expect more from them today in terms of services and resources than they did five years ago. Forty-two percent of clients expect more than traditional number crunching. To meet increasing client needs, accountants must not only deliver the expected accounting tasks, but also serve as a trusted business advisor for their client base.

JULY 2018

Accountants are feeling the pressure.

Technological advances have created more competition in the market, leading to a drop in confidence. Sixty-seven percent of accountants feel competition in the industry is an issue, and 40 percent of accountants feel less confident than they did just a year ago.

Technology lets accountants automate admin and zero-in on clients. As a result of the rising expectations and competition, accountants are turning to new tools that allow them to be even more productive. In fact, 64 percent of accountants cited time restraints and a need for efficiency as a reason for adopting new technology into their practice.

In short, modernization is not happening because of technology adoption. The way in which accountants are thinking about their role and the time constraints on them are changing, which in turn pushes them to technology for help. Just a year ago, 86 percent of “Practice of Now” survey respondents said they would be happy for technology to make administrative elements of their jobs invisible. In 2018, 66 percent of accountants said they would invest in artificial intelligence. Anticipation has turned into intent.

A.I. will be able to make predictions and decisions, giving accountants more time and mental energy to focus on larger-scale client needs and relationships.

To take your firm into the future, it’s critical to take a step back and recognize what technology ultimately is — a tool to help you drive change and make your life easier.

Technology is the enabler, freeing up valuable time or alerting you to potential problems that could prove costly both for your practice and customers.

As we move into the next generation of accounting, savvy practitioners will reframe their mindset around technology and identify the power it has to help your firm perform at the highest level. In the end, it’s about getting back to the reason we all wanted to be accountants in the first place: to provide strategic advice and counsel, not get bogged down in admin and bookkeeping.

Jennifer Warawa is executive vice president of partners, accountants and alliances with Sage.

Additionally, we found that 49 percent of accountants want to utilize A.I. to automate the small stuff, such as number crunching, data entry, e-mail and diary management.

We anticipate that in the next few years, accountants will also recognize the value of A.I. as a tool to help with tasks even beyond the day-to-day admin. For example, A.I. software will be able to predict a client’s cash flow based on the company’s previous behavior. Based on self-generated data,

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Sold exclusively to accounting professionals like you, cloud-based Accounting Power is both a powerful professional accounting system and a G/L system. It lets you customize your accounting services to best meet each client’s unique needs.

It’s a known fact that most business owners hate doing accounting. With Accounting Power, you can easily offer highly profitable Client Accounting Services (CAS) to the clients who want to offload all their accounting work to you so they can focus on what they do best—manage and grow their businesses.

Accounting Power has unprecedented capabilities for write-up, trial balance and preparing fully customizable financial statements. Its analytical tools let you offer value-added outsourced CFO services.

Now, by giving each client what they want and value, you can raise your relevance and your bottom line. Isn’t that what you really want?

To learn how AccountantsWorld delivers new possibilities for your firm, visit AccountantsWorld.com/More

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32

Empower yourself.

SM

STATEMENT

MEMBER NOTES FIRM NOTES Michelle L. Alter, a CPA Candidate member of the MACPA, has been promoted to senior accountant with Albright Crumbacker Moul and Itell, LLC, CPAs.

Smith Elliott Kearns & Company, LLC, has been notified by the

Dwight D. Baumgardner, CPA, has accepted a position as manager in the Frederick office of LSWG CPAs.

accounting and auditing practice. SEK&Co received the highest

Lindsey E. Close, CPA, has been promoted to supervisor with Albright Crumbacker Moul and Itell, LLC, CPAs. Jocelyn Diaz has been promoted to staff accountant with Gross, Mendelsohn & Associates, P.A. Saidu Hasim-Cole has joined DeLeon & Stang Certified Public Accountants and Advisors as a staff accountant in the firm’s Business Services Department.

Grace Honsou has been promoted to staff accountant with Gross, Mendelsohn & Associates, P.A.

Peer Review Committee of the American Institute of CPAs that it has successfully completed an independent quality review of its rating possible on its peer review, which puts the firm in an extremely elite group of CPA firms.

IN MEMORIAM Barry B. Bondroff, CPA, an officer with Gorfine, Schiller and Gardyn, P.A., and an MACPA member since 1973, died on May 12. He was 69.

Linda Keyser has joined the Client Accounting Services Department in the Frederick office of LSWG CPAs. She is a CAS staff accountant.

Delmas Lake has joined DeLeon & Stang Certified Public Accountants and Advisors as a staff auditor who will focus on performing audits, reviews, and compilations for non-profits, credit unions, and low-income housing.

Katelyn M. Marchun, CPA, a staff accountant with Albright Crumbacker Moul and Itell, LLC, CPAs, and a CPA Candidate member of the MACPA, has completed the exam to earn her CPA designation.

Ethni H. Mullaney, CPA, has been promoted to manager in the Frederick office of LSWG CPAs.

Kevin Sodee has been promoted to staff accountant with Gross, Mendelsohn & Associates, P.A. Kery J. Swope, CPA, CVA, a supervisor with Albright Crumbacker Moul and Itell, LLC, CPAs, has completed the exam and requirements to earn his Certified Valuation Analyst designation.

JULY 2018

DON’T MISS THE FULL LIST OF UPCOMING CPE COURSES IN-PERSON EVENTS AND COURSES: Page 42

ONLINE EVENTS AND COURSES: Page 48

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3. They manually track mileage for reimbursement when traveling for business.

4. They use company cards.

5. They require reports to be approved by a manager, an accountant, or multiple people.

6. You manually enter expense data into an accounting system on the client’s behalf.

7. You reimburse the client’s expenses through payroll or checks.

ExpensifyApproved! Partners Receive: Discounts! Share savings with clients or keep them for your firm Expedited support for you and your clients In-depth training on best practices

Check out approved.expensify.com to learn more!

34

2017 App Partner of the Year

STATEMENT

CLASSIFIEDS job openings FUTURE PARTNERS NEEDED FOR OUR BALTIMORE AND DC OFFICES:

A Partner level or Junior Partner level CPA for primarily overseeing clients with complex individual and business tax returns. This is an exceptional opportunity to achieve a piece of the pie in a high quality CPA firm with a great base of clients offering challenging work, rapid professional growth, reasonable hours, and a competitive salary.

Company Description Our firm, Denburg & Low, PA, is a certified public accounting firm specialized in providing tax, accounting, auditing, business and computer consulting services. We hire only highly experienced professionals, and invest our resources in state of the art technology. The results are superior service to our clients which go beyond the normal scope of services typically provided by many CPA firms. We have offices in Washington, DC and Baltimore, MD. Our organization of highly skilled professionals is large enough to meet our clients’ needs yet small enough to deliver the responsive service our clients expect. We offer our clients and prospective clients the best of two worlds--the experience and expertise of a regional firm combined with the personalized attention and focus of a dedicated local firm.

Website - www.denburg.com Our offices are conveniently located at 6000 Metro Drive in northwest Baltimore and near the Farragut North metro station at 1899 L Street, NW in downtown Washington, DC. Please submit your resume to confidential@denburg.com.

All information shall be kept strictly confidential.

DO YOUR CLIENTS NEED HELP WITH PAPER MANAGEMENT/ORGANIZING?

• Specializing in working with Seniors, Independent Business Owners, Individuals with vision impairments • Checkbook Balancing, Bill paying, Tax preparation • Medical Claims and Bills Management • Filing, Decluttering, Processing Mail • Assessing bank statements, utility bills, credit cards for accuracy & possible errors or fraud

****Over 30 years in the Baltimore area ****Honest, Reliable, Caring and Patient ****Bonded and Insured Contact Info: THE ORGANIZER Bonnie Blas Kashnow orgnizr18@cs.com 410-358-9290 www.baltimoreorganizer.com

JULY 2018

PROFESSIONAL BUSINESS MANAGEMENT,

Inc., a PG County Tax Practice Seeking an Accounting Assistant.

The position is primarily General Ledger, Bank Recs, Payroll Service Processing, Payroll Tax Return Prep and general office duties.

Please send resume in confidence to: tom.auer@pbmservicesinc.com

PROFESSIONAL BUSINESS MANAGEMENT,

Inc., a PG County Tax Practice Seeking CPA Tax Preparer with at least 3 years experience. The position is primarily Individual Tax Preparation with some general ledger work. The position would be full time during tax season at a minimum. However, it could be structured to be full or part time for the remainder of the year. Ultra Tax CS experience is a plus but not required.

Please reply in confidence to: tom.auer@pbmservicesinc.com

DIRECTOR OF FINANCE PRITCHETT CONTROLS, INC.

6980 Muirkirk Meadows Drive, Beltsville, MD 20705 COMPANY BACKGROUND

Pritchett Controls is an employee-owned company specializing in the sales, design, installation, commissioning, and servicing of Building Automation and Energy Management Systems (BAS/EMS) for commercial buildings.

ABOUT THE POSITION

The successful candidate will be a strategic, organized individual with 10+ years of managerial accounting and financial management experience, preferably in the construction industry. The candidate will report directly to the company President and will be responsible for all aspects of the company’s accounting and financial duties, including interfacing with the executive and middle management teams to improve company financial performance.

This position is available in our Beltsville, MD office.

DUTIES AND RESPONSIBILITIES

•M anaging an accounting staff of 5 team members.

• Directing all aspects of accounting operations, overseeing all transactions related to general ledger, receivables, payables, payroll, and financial reporting.

• Overseeing all aspects of the construction accounting process, including the preparation and submission of monthly requisitions, contract and change order management, vendor/subcontractor payment processing, job costing, and ensuring compliance with lien waiver documentation.

• Participating in project forecast (“Cost-to-Complete”) meetings with the construction management team.

(CONTINUED ON PAGE 36)

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CLASSIFIEDS job openings DIRECTOR OF FINANCE PRITCHETT CONTROLS, INC. (CONTINUED FROM PAGE 35)

•W orking and meeting with the yearly valuation company and preparing work papers and financial statements for the ESOP and 401k valuation • Maintaining and developing, as necessary, all required accounting policies and systems.

• Ensuring that records are maintained in accordance with generally accepted accounting principles and company policies.

• Assisting senior management in financial planning and results management.

• Coordinating, preparing, and reviewing monthly, quarterly, and annual reports.

• Coordinating and/or preparing tax schedules, corporate income tax, year-end IRS forms, tax returns, and managing all tax planning and compliance with required federal, state, local, payroll, property, and other applicable taxes.

• Managing relationships with medical and business insurance providers and ensuring compliance with reporting requirements, renewals, etc.

• Managing cash flow • Conducting oneself with the highest level of business integrity, and maintaining sensitive information in strict confidence.

Other finance and administrative duties as assigned.

mergers & acquisitions A RETIREMENT MINDED SINGLE

practitioner CPA wishing to sell his practice. The practice grosses approximately $55k. The practice is well established, mainly a tax practice with no payroll some bookkeeping, and no compilations, reviews or audits. DIRECT INQUIRIES IN STRICT CONFIDENCE to Krislyn@macpa.com File Number: XXX-01

PG COUNTY CPA FIRM LOOKING TO

associate or merge with an established CPA or CPA Firm leading to eventual sale.

Clients are in Baltimore/Washington/Annapolis & Northern Virginia. DIRECT INQUIRIES IN STRICT CONFIDENCE TO Krislyn@macpa.org and reference File No. XXX-02

INTERESTED IN BUYING A PRACTICE?

See local and nationwide listings at www.APS.net and register for free email updates or call us at 1-800-397-0249.

THINKING OF SELLING YOUR PRACTICE? Accounting Practice Sales is the leading marketer of tax and accounting practices in North America. We have a large pool of buyers, both individuals and firms, looking for practices to purchase. We also have the experience to help you find the right fit for your firm, negotiate the best price and terms and get the deal done. We welcome the opportunity to talk to you about our risk-free and confidential services. For more information please call Bradley Holmes with the APS Holmes Group at 1-800-397-0249 or email Bradley@APS.net.

QUALIFICATIONS

•1 0+ years of managerial accounting and financial management experience.

• Bachelor’s degree in Accounting, Finance, or Business. CPA required.

• Experience working in the commercial construction industry strongly preferred.

• Strong organizational skills, attention to detail, ability to prioritize and meet deadlines.

• Ability to work without direct supervision and efficiently manage fluctuating priorities, deadlines, and personnel.

• Experience in using accounting software such as Computerease, or any similar accounting software.

• Fully proficient computer skills, particularly information databases, internet services, and working knowledge of Microsoft Word and Excel.

To apply, please submit your résumé via e-mail to: c.walsh@pritchettcontrols.com. No phone calls please.

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HOW TO SUBMIT A CLASSIFIED AD To submit a classified ad, contact Krislyn Suljak at krislyn@macpa.org, or 443-632-2307.

REPLIES TO ADS WITH FILE NUMBER: Email krislyn@macpa.org, or reply via mail: Krislyn Suljak MACPA | Classified Ads 901 Dulaney Valley Road, Suite 800, Towson, MD 21204

In the last issue of the Statement, a mistake was made that disclosed the name of a firm who requested confidentiality.

We sincerely apologize for this error.

STATEMENT

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WE’RE HIRING TOP TALENT! Grossberg is a unique environment where talented and highly sophisticated professionals excel. Our staff and partners are some of the best and brightest in their field, operating at the highest level of professionalism and technical expertise.

Here, you find a culture of people who enjoy the challenge of untangling today’s highly complex web of business, transactional, financial and tax issues, while enjoying the benefits of working at one of the area’s premier firms.

Our mentorship program ensures that everyone has access to one-on-one training by industry experts who encourage their professional development. In addition, the boutique nature of our firm allows us to interact regularly and learn from one another in more casual ways. This provides us with the ability to offer skilled professionals tremendous opportunities for growth and job satisfaction, as well as a great work environment.

Our culture is defined by our people. We pride ourselves on fostering an environment of collegiality and camaraderie; we truly care about each other and work together to meet the 10 Things

Professionals Want Most 1. Purpose 2. Goals 3. Responsibility 4. Autonomy 5. Flexibility

demands of our elite group of clients. It is only through this teamwork that we are able to meet our professional demands, advance our business and technical skills, and still support each other to maintain a healthy work/family life balance.

This is an integral part of who we are, why we are successful, and how we have maintained our reputation as one of the best firms in the country.

Growth in our business has created new opportunities for experienced CPAs. If you are seeking to the move to the next level in your career, consider joining the Grossberg team!

6. Development

Qualifications

7. Opportunity

• 5+ years of professional experience in public accounting

8. Transparency 9. Rewards 10. GROSSBERG

• Ability to research issues and apply concepts to clients’ situations • Proficiency in technical writing and research • Ability to communicate with clients and staff at all levels • Comfortable with working in a team environment

Looking for an exciting new opportunity, and a Great Place to Work?

Apply at www.Grossberg.com Grossberg Company LLP 6500 Rock Spring Drive Suite 200 Bethesda, MD 20817

38

Trusted Business Advisor Since 1924

STATEMENT

Time Tracking and Accounting in one.

Job & shift scheduling Custom alerts and notifications Mobile apps with GPS tracking Reliable, accurate invoicing

“Administrative time in a company can be extremely costly. Since I found TSheets, profits are up, and clients are flying in the door. I am very thankful.�

Precise job costing

Dawn Brolin CPA, MSA, Powerful Accounting

Streamlined payroll

Check out our FREE program for QuickBooks ProAdvisors!

TSheets.com/pros JULY 2018

888-836-2720 | support@tsheets.com

39

Technical Learning Accounting DEVELOP Accounting (Governmental) YOUR Auditing AuditingBEST (Governmental) Business Law TEAM. Economics Every course in the Business Learning Institute Course Catalog can be customized for your Finance organization and brought on-site to your office.

Information Technology Management Services Regulatory Ethics Specialized Knowledge DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

BLI instructors are known for their expert knowledge (each teaches his or her own curriculum), and also for their engaging and collaborative teaching styles and methodology. BLI is the future of learning.

GOOD STAFF TRAINING ISN’T BORING.

Strategic learning to move careers forward.

Learning in all of the NASBA Fields of Study:

Technical Learning Statistics Accounting Taxes Accounting Non-Technical Learning (Governmental) Behavioral Ethics Auditing Business Management Auditing (Governmental) & Organization Business Law Communications and Marketing Economics Computer Software Finance Applications Information Technology Personal Development Management Services Personnel/Human Regulatory Ethics Resources Group discounts are available. Production Specialized Knowledge

40

See the full course catalog online at

BLIonline.org/catalog Contact Pam Devine at 443.632.2321 to schedule your on-site training.

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

MACPA COULDN’T DO EVERYTHING THAT WE DO FOR OUR MEMBERS WITHOUT OUR PREFERRED PROVIDERS

For information about sponsoring MACPA programs or to learn more about advertising with the MACPA please contact Amy Puente at 443.632.2323 or amyp@macpa.org.

JULY 2018

41

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

BLI LEADERSHIP (IN-PERSON)

Upcoming IN-PERSON Events & Courses DATE

COURSE TITLE

WEBCAST Events & Courses: page 48 CPE

TIME

MEMBER

NON-MEM. LOCATION

AC CO U N TIN G & AUDITIN G (IN -PE R SO N) 7/10/18

Becoming an AICPA Peer Review Team or Review Captain: Case Study Application

8

8 AM – 3:30 PM

$295

$395

Towson

7/19/18

Not-for-Profit Accounting and Auditing Update

8

8 AM – 3:30 PM

$255

$355

Columbia

9/12/18

Preparation, Compilation, and Review Engagements: Update and Review

4

12 PM – 3:30 PM

$140

$190

Rockville

9/21/18

Annual Update for Accountants and Auditors

8

8 AM – 3:30 PM

$280

$380

Columbia

9/26/18

Advanced Topics in a Single Audit

8

8 AM – 3:30 PM

$280

$380

Columbia

9/27/18

2018 Government Contractors Conference

8

8 AM – 4:10 PM

$240

$340

Greenbelt + Online

10/1/18

Implementing FASB’s New Lease Standard: ASU 2016-02 Accounting for Leases - Examples and Practical Approaches

4

12 PM – 3:30 PM

$140

$190

Columbia

10/19/18

Fraud Update: Detecting and Preventing the Top Ten Fraud Schemes

8

8 AM – 3:30 PM

$280

$380

Timonium

10/23/18

A&A Update: Highlights of the Latest Accounting and Auditing Issues

8

8 AM – 3:30 PM

$280

$380

Timonium

10/24/18

A&A Update for Small-or Mid-Size Private Companies

8

8 AM – 3:30 PM

$280

$380

Frederick

10/29/18

Revenue Recognition: Mastering the New FASB Requirements

8

8 AM – 3:30 PM

$280

$380

Timonium

10/31/18

Forensic Accounting Investigative Practices

8

8 AM – 3:30 PM

$280

$380

Timonium

11/2/18

Annual Update for Preparation, Compilation, and Review Engagements

8

8 AM – 3:30 PM

$280

$380

Columbia

11/5/18

Hot Topics in Accounting and Auditing

4

12 PM – 3:30 PM

$140

$190

Timonium

11/6/18

Real-World Fraud in Governments and Not-for-Profits

8

8 AM – 3:30 PM

$280

$380

Timonium

11/15/18

Four For Fall: Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

4

8 AM – 11:30 AM

$140

$190

Columbia

11/15/18

Four For Fall: Accounting and Auditing Update

4

12 PM – 3:30 PM

$140

$190

Columbia

11/15/18

Four For Fall: Annual Update for Governments and Not-For-Profits

4

8 AM – 11:30 AM

$140

$190

Columbia

11/15/18

Four For Fall: Real-World Frauds Found in Not-for-Profits

4

12 PM – 3:30 PM

$140

$190

Columbia

11/16/18

Four For Fall: Cybersecurity Risk Management Program: What You Need to Know

4

8 AM – 11:30 AM

$140

$190

Columbia

42

Group discounts are available.

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

ACCOUNTING & AUDITING (IN-PERSON), CONTINUED 11/16/18

Four For Fall: Data Breaches & Other Cyber Frauds: A 21st Century Risk to Your Organization

4

12 PM – 3:30 PM

$140

$190

Columbia

11/16/18

Four For Fall: Lean Accounting and Management: Saving Money by Streamlining Operations

4

12 PM – 3:30 PM

$140

$190

Columbia

11/27/18

Identity Theft: Preventing, Detecting, and Investigating

8

8 AM – 3:30 PM

$280

$380

Columbia

11/27/18

Implementing FASB’s Rev Rec Standard and Preparing for the Lease Accounting Revolution

8

8 AM – 3:30 PM

$280

$380

Frederick

11/28/18

A&A Update for Nonprofits: Practical Insights into the Latest Accounting and Auditing Issues Relevant to Nonprofit Entities

8

8 AM – 3:30 PM

$280

$380

Timonium

11/29/18

A&A Update: Highlights of the Latest Accounting and Auditing Issues

8

8 AM – 3:30 PM

$280

$380

Columbia

12/3/18

Real World Fraud in Today’s Small-to Medium-Sized Entities

8

8 AM – 3:30 PM

$280

$380

Timonium

12/4/18

Accounting and Auditing Update for Small Businesses

8

8 AM – 3:30 PM

$280

$380

Rockville

12/4/18

Accounting and Reporting for Not-for-Profit Organizations

8

8 AM – 3:30 PM

$280

$380

Timonium

12/5/18

2018 AI In Accounting and Auditing Conference

4

1 AM – 5 PM

$100

$200

Towson + Online

12/6/18

2018 CPA Summit

8

8 AM – 4 PM

$230

$330

Towson + Online

12/10/18

Accounting and Auditing Current Developments (Accounting Update)

8

8 AM – 3:30 PM

$215

$315

Timonium

12/11/18

Hot Topics in Accounting and Auditing

4

12 PM – 3:30 PM

$140

$190

Frederick

August 15-17, 2018

Sheraton Baltimore North | Towson CPE: 20

Fostering CPAs’ leadership and strategic skills to move careers forward, faster.

STRATEGIC LEARNING POWERED BY

BUSINESS LEARNING INSTITUTE

JULY 2018

In the fast-approaching future, successful CPAs must be leaders. Leadership Academy is the starting point for unlocking the full potential in the profession’s best and brightest young CPAs. This three-day event is cited by past participants as an invaluable boost to their careers.

Group registration discounts apply.

KEYNOTE SPEAKERS Tom Hood, CPA Gretchen Pisano, Master in Applied Psychology

macpa.org/LeadershipAcademy 43

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

BLI LEADERSHIP (IN-PERSON)

B LI LE A D E R S H IP (IN-PE R S ON ) 8/15/18

2018 MACPA Leadership Academy

20

8:30 AM – 5 PM

$1,500

$1,500

10/24/18

A&A Update for Small-or Mid-Size Private Companies

8

8 AM – 3:30 PM

$280

$380

Frederick

Columbia

Towson

B U S I N E S S & IN D US TRY (IN -PE R SON ) 8/2/18

Excel Pivot Tables in-depth, PowerPivot, and Data Analysis Functions and Tips

8

8 AM – 3:30 PM

$300

$400

8/15/18

2018 MACPA Leadership Academy

20

8:30 AM – 5 PM

$1,500

$1,500

8/17/18

Introduction to Power BI

8

8 AM – 3:30 PM

$280

$380

Timonium

8/22/18

Economic Business and Environment Update

8

8 AM – 3:30 PM

$280

$380

Columbia

9/20/18

Office 365/Office 2016 update - Excel + Word + Outlook + OneNote + Collaboration Teams and Adobe Acrobat Tips

8

8 AM – 3:30 PM

$300

$400

Columbia

10/1/18

Implementing FASB’s New Lease Standard: ASU 2016-02 Accounting for Leases - Examples and Practical Approaches

4

12 PM – 3:30 PM

$140

$190

Columbia

10/23/18

A&A Update: Highlights of the Latest Accounting and Auditing Issues

8

8 AM – 3:30 PM

$280

$380

Timonium

10/24/18

Excel Advanced Features, Functions, Pivot Tables and the Macro Recorder

8

8 AM – 3:30 PM

$300

$400

Columbia

10/29/18

Revenue Recognition: Mastering the New FASB Requirements

8

8 AM – 3:30 PM

$280

$380

Timonium

Towson

Women TO WATCH 2018 AWARDS

The Women to Watch Awards program highlights the accomplishments of women in the CPA profession and demonstrates to emerging female leaders that success is not out of reach.

Do you know a female CPA leading the profession forward?

NOMINATE A WOMAN TO WATCH EMERGING LEADERS are those women who are up-and-coming stars in their organizations.

EXPERIENCED LEADERS are those who have established their roles as leaders in their organizations by advancing to the highest levels of management or ownership, and by mentoring those following in their footsteps.

Nominees may be leaders in any industry, at any career stage.

NOMINATION DEADLINE: JULY 15

NOMINATE A LEADER YOU KNOW AT MACPA.ORG/AWARDS

44

Group discounts are available.

STRATEGIC LEARNING POWERED BY

BUSINESS LEARNING INSTITUTE

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

BUSINESS & INDUSTRY (IN-PERSON), CONTINUED 11/7/18

Excel Super-User - Automation with Macros beyond the basics with VBA code

8

8 AM – 3:30 PM

$300

$400

Columbia

11/27/18

Implementing FASB’s Rev Rec Standard and Preparing for the Lease Accounting Revolution

8

8 AM – 3:30 PM

$280

$380

Frederick

12/6/18

2018 CPA Summit

8

8 AM – 4 PM

$230

$330

Towson + Online

12/18/18

Excel Pivot Tables in-depth, PowerPivot, and Data Analysis Functions and Tips

8

8 AM – 3:30 PM

$300

$400

Columbia

ET HI CS ( IN - PE R S ON ) 8/20/18

AACC: Real World Ethics

4

1 PM – 5 PM

$140

$190

Anne Arundel

9/12/18

Ethics and Professional Conduct: Updates and Practical Applications

4

8 AM – 11:30 AM

$140

$190

Rockville

10/1/18

A Practical Ethics Update for CPAs

4

8 AM – 11:30 AM

$140

$190

Columbia

11/5/18

A Practical Ethics Update for CPAs

4

8 AM – 11:30 AM

$140

$190

Timonium

11/16/18

Four For Fall: Ethics and Professional Conduct: Updates and Practical Applications

4

8 AM – 11:30 AM

$140

$190

Columbia

12/3/18

Ethics: Here We Go Again

4

8 AM – 11:30 AM

$140

$190

Columbia

12/11/18

A Practical Ethics Update for CPAs

4

8 AM – 11:30 AM

$140

$190

Frederick

GOV E R N M E N T (IN-PE R S ON ) 7/19/18

Not-for-Profit Accounting and Auditing Update

8

8 AM – 3:30 PM

$255

$355

Columbia

9/27/18

2018 Government Contractors Conference

8

8 AM – 4:10 PM

$240

$340

Greenbelt + Online

11/5/18

Governmental and Not-for-Profit Annual Update

8

8 AM – 3:30 PM

$280

$380

Rockville

11/6/18

Real-World Fraud in Governments and Not-for-Profits

8

8 AM – 3:30 PM

$280

$380

Timonium

11/15/18

Four For Fall: Annual Update for Governments and Not-For-Profits

4

8 AM – 11:30 AM

$140

$190

Columbia

11/16/18

Four For Fall: Data Breaches & Other Cyber Frauds: A 21st Century Risk to Your Organization

4

12 PM – 3:30 PM

$140

$190

Columbia

12/4/18

Accounting and Reporting for Not-for-Profit Organizations

8

8 AM – 3:30 PM

$280

$380

Timonium

2019 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8

8 AM – 5 PM

$250

$350

College Park

16

8 AM – 4:45 PM

$280

$380

Baltimore + Online

4/26/2019

LEG I S LAT IV E & RE G ULATORY (IN-PE RSON) 9/24/18

49th Annual Chesapeake Tax Conference

NON P R O F IT / N OT-FOR -PR OF IT (IN -P ERSON) 7/19/18

Not-for-Profit Accounting and Auditing Update

8

8 AM – 3:30 PM

$255

$355

Columbia

11/5/18

Governmental and Not-for-Profit Annual Update

8

8 AM – 3:30 PM

$280

$380

Rockville

11/6/18

Real-World Fraud in Governments and Not-for-Profits

8

8 AM – 3:30 PM

$280

$380

Timonium

JULY 2018

45

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

NONPROFIT / NOT-FOR-PROFIT (IN-PERSON), CONTINUED 11/15/18

Four For Fall: Annual Update for Governments and Not-For-Profits

4

8 AM – 11:30 AM

$140

$190

Columbia

11/15/18

Four For Fall: Real-World Frauds Found in Not-for-Profits

4

12 PM – 3:30 PM

$140

$190

Columbia

11/16/18

Four For Fall: Data Breaches & Other Cyber Frauds: A 21st Century Risk to Your Organization

4

12 PM – 3:30 PM

$140

$190

Columbia

11/28/18

A&A Update for Nonprofits: Practical Insights into the Latest Accounting and Auditing Issues Relevant to Nonprofit Entities

8

8 AM – 3:30 PM

$280

$380

Timonium

12/4/18

Accounting and Reporting for Not-for-Profit Organizations

8

8 AM – 3:30 PM

$280

$380

Timonium

2019 GOVERNMENT AND NOT-FOR-PROFIT CONFERENCE

8

8 AM – 5 PM

$250

$350

College Park

4/26/2019

PE R S O N A L F IN A NCIAL PLANNING (IN- P ERSO N) 9/21/18

Estate and Financial Planning for the Older Client

8

8 AM – 3:30 PM

$280

$380

Columbia

9/24/18

49th Annual Chesapeake Tax Conference

16

8 AM – 4:45 PM

$280

$380

Baltimore + Online

9/28/18

A Practical Guide to Trusts

8

8 AM – 3:30 PM

$280

$380

Timonium

10/24/18

32nd Annual Personal Financial Planning Conference

8

8 AM – 4:35 PM

$320

$420

Towson + Online

10/25/18

Applying Integrated Estate, Financial, and Asset Protection Planning Techniques

8

8 AM – 3:30 PM

$280

$380

Columbia

10/26/18

Integrated Estate, Financial, and Asset Protection Planning A Breakthrough Approach

8

8 AM – 3:30 PM

$280

$380

Columbia

11/26/18

Estate Planning for 2018 and Beyond

8

8 AM – 3:30 PM

$280

$380

Columbia

11/29/18

Employee Benefit and Retirement Planning: Pension and Deferred Compensation Tools

8

8 AM – 3:30 PM

$280

$380

Timonium

PR A CT I TIO N E R S (IN -PE R SON ) 9/24/18

49th Annual Chesapeake Tax Conference

16

8 AM – 4:45 PM

$280

$380

Baltimore + Online

11/16/18

Four For Fall: Lean Accounting and Management: Saving Money by Streamlining Operations

4

12 PM – 3:30 PM

$140

$190

Columbia

12/6/18

2018 CPA Summit

8

8 AM – 4 PM

$230

$330

Towson + Online

SPE CI AL IZ E D K N OWLE D GE & APPLICAT IONS (IN- P ERSON) 11/16/18

Four For Fall: Data Breaches & Other Cyber Frauds: A 21st Century Risk to Your Organization

4

12 PM – 3:30 PM

$140

$190

Columbia

12/5/18

2018 AI In Accounting and Auditing Conference

4

1 AM – 5 PM

$100

$200

Towson + Online

12/6/18

2018 CPA Summit

8

8 AM – 4 PM

$230

$330

Towson + Online

CPA DAY 2019 - Members Only

2

7:30 AM – 1:30 PM

$0

$0

Annapolis

1/24/2019

TA X ( I N - P E R S O N) 7/17/18

Helping Your Clients Understand Tax, Financial, and Estate Planning Strategies Under the Tax Reform Act

8

8 AM – 3:30 PM

$255

$355

Timonium

7/31/18

Navigating Your Client Through the Maze of the Affordable Care Act

8

8 AM – 3:30 PM

$255

$355

Columbia

8/15/18

Fringe Benefit Planning for 2018 and Beyond

8

8 AM – 3:30 PM

$280

$380

Columbia

9/21/18

Estate and Financial Planning for the Older Client

8

8 AM – 3:30 PM

$280

$380

Columbia

9/24/18

49th Annual Chesapeake Tax Conference

16

8 AM – 4:45 PM

$280

$380

Baltimore + Online

9/28/18

A Practical Guide to Trusts

8

8 AM – 3:30 PM

$280

$380

Timonium

10/25/18

Applying Integrated Estate, Financial, and Asset Protection Planning Techniques

8

8 AM – 3:30 PM

$280

$380

Columbia

46

Group discounts are available.

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

TAX (IN-PERSON), CONTINUED 10/26/18

Integrated Estate, Financial, and Asset Protection Planning A Breakthrough Approach

8

8 AM – 3:30 PM

$280

$380

Columbia

11/1/18

Cut Your Client’s Tax Bill: Individual Tax Planning Tips and Strategies

8

8 AM – 3:30 PM

$280

$380

Timonium

11/8/18

Don Farmer’s 2018 Individual Income Tax Workshop

8

8 AM – 4 PM

$290

$440

Baltimore + Online

11/9/18

Don Farmer’s 2018 Corporate Income Tax Workshop

8

8 AM – 4 PM

$290

$440

Baltimore + Online

11/26/18

Estate Planning for 2018 and Beyond

8

8 AM – 3:30 PM

$280

$380

Columbia

11/29/18

Employee Benefit and Retirement Planning: Pension and Deferred Compensation Tools

8

8 AM – 3:30 PM

$280

$380

Timonium

11/30/18

Don Farmer’s 2018 Federal Tax Update

8

8 AM – 4 PM

$290

$440

Baltimore + Online

12/13/18

MACPA’s 1040 Fast Track

16

8 AM – 4 PM

$350

$450

Columbia + Online

12/17/18

The Complete Guide to the Preparation of Form 1041

8

8 AM – 3:30 PM

$280

$380

Columbia

1/9/2019

The Complete Guide to the Preparation of Form 1041

8

8 AM – 3:30 PM

$280

$380

Timonium

1/10/2019

MACPA’s 1040 Fast Track

16

8 AM – 4 PM

$350

$450

Timonium + Online

1/16/2019

Annual Tax Update: Corporations and Pass-Through Entities

8

8 AM – 3:30 PM

$280

$380

Frederick

1/24/2019

Postmortem Estate Planning

8

8 AM – 3:30 PM

$280

$380

Columbia

TE CHN O L O G Y (IN -PE R SON ) 8/2/18

Excel Pivot Tables in-depth, PowerPivot, and Data Analysis Functions and Tips

8

8 AM – 3:30 PM

$300

$400

Columbia

8/17/18

Introduction to Power BI

8

8 AM – 3:30 PM

$280

$380

Timonium

9/20/18

Office 365/Office 2016 update - Excel + Word + Outlook + OneNote + Collaboration Teams and Adobe Acrobat Tips

8

8 AM – 3:30 PM

$300

$400

Columbia

10/24/18

Excel Advanced Features, Functions, Pivot Tables and the Macro Recorder

8

8 AM – 3:30 PM

$300

$400

Columbia

11/7/18

Excel Super-User - Automation with Macros beyond the basics with VBA code

8

8 AM – 3:30 PM

$300

$400

Columbia

11/16/18

Four For Fall: Cybersecurity Risk Management Program: What You Need to Know

4

8 AM – 11:30 AM

$140

$190

Columbia

12/5/18

2018 AI In Accounting and Auditing Conference

4

1 AM – 5 PM

$100

$200

Towson + Online

12/6/18

2018 CPA Summit

8

8 AM – 4 PM

$230

$330

Towson + Online

12/18/18

Excel Pivot Tables in-depth, PowerPivot, and Data Analysis Functions and Tips

8

8 AM – 3:30 PM

$300

$400

Columbia

1/15/2019

Microsoft Power BI and Excel Data Visualization Create Dynamic Charts, Graphs and Diagrams based on your data

8

8 AM – 3:30 PM

$550

$650

Columbia

A progressive shift is taking place within organizations. Finance automation tools are enabling corporations to increase efficiency, improve accuracy, and decrease risk. Learn how to employ best practices; transform the way accounting and finance work, by reducing less rewarding tasks; understand the power of automation and how it strengthens accounting organizations.

Complimentary webinar brought to you by Blackline.

JULY 2018

47

Upcoming ONLINE Events & Courses

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

A CCO U N TIN G & AUD ITIN G (ONLINE) 7/2/18

Forensic Accounting: Uncovering Schemes and Scams

4

10:30 AM – 2:30 PM

$159

$199

Online

7/6/18

Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1 PM – 5 PM

$159

$199

Online

7/6/18

GASB No. 74 & 75: Best Practices in OPEB Accounting & Auditing

4

1 PM – 5 PM

$159

$199

Online

7/9/18

Revenue Recognition: Mastering the New FASB Requirements

8

10:30 AM – 6:30 PM

$249

$319

Online

7/16/18

Implementing FASB’s New Lease Standard: ASU 2016-02 Accounting for Leases- Examples and Practical Approaches

4

9 AM – 1 PM

$110

$140

Online

7/24/18

New Required Going Concern Disclosure: Evaluating the Impact on Preparing Financial Statements, Compilations, Reviews and Audits

2

1 PM – 3 PM

$75

$90

Online

7/24/18

Thriving in the Age of Change (FREE to members - Sponsored Webinar)

1

11 AM – 12 PM

$0

$40

Online

7/26/18

Grow Your Business from Within: How to Deliver Maximum Value to Clients on Every Engagement

2

11 AM – 1 PM

$75

$90

Online

8/2/18

How to Identify, Explain, and Present Pertinent Financial Information to Non-Accountants

2

2 PM – 3 PM

$75

$90

Online

9/26/18

Grow Your Business from Within: How to Deliver Maximum Value to Clients on Every Engagement

2

1 PM – 3 PM

$75

$90

Online

9/27/18

2018 Government Contractors Conference

8

8 AM – 4:10 PM

$240

$340

Greenbelt + Online

10/26/18

Implementing FASB’s New Lease Standard: ASU 2016-02 Accounting for Leases- Examples and Practical Approaches

4

8 AM – 12 PM

$110

$140

Online

11/19/18

How to Identify, Explain, and Present Pertinent Financial Information to Non-Accountants

2

11 AM – 1 PM

$75

$90

Online

12/5/18

2018 AI In Accounting and Auditing Conference

4

1 AM – 5 PM

$100

$200

Towson + Online

12/6/18

2018 CPA Summit

8

8 AM – 4 PM

$230

$330

Towson + Online

BLI LE A D E R S H IP (ONLINE ) 8/7/18

Anticipate Change: Avoiding Ulcers in the “New Abnormal World”

1

1 PM – 2 PM

$35

$45

Online

8/15/18

Anticipate Inclusion - Building a Sustainable Culture of Diversity (FREE FOR MEMBERS)

1

12 PM – 1 PM

$0

$45

Online

9/4/18

Listening For Leaders: Ask the Question, Discover the Need, Win the Trust

4

11 AM – 3 PM

$110

$140

Online

9/13/18

Anticipate Greatness: Building a Productive, Resilient Workforce

1

2 PM – 3 PM

$35

$45

Online

10/11/18

Anticipate Greatness: Building a Productive, Resilient Workforce

1

3 PM – 4 PM

$35

$45

Online

10/19/18

Anticipate Change: Avoiding Ulcers in the “New Abnormal World”

1

3 PM – 4 PM

$35

$45

Online

48

Group discounts are available.

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

BUSINESS & INDUSTRY (ONLINE)

BU S I N E S S & IN D USTRY (ONLINE ) 7/6/18

Using Microsoft OneNote as a MAP Handbook Tool

2

10 AM – 12 PM

$99

$129

Online

7/10/18

Anticipate Development: Moving From Employee to Manager to Leader

1

11 AM – 12 PM

$35

$45

Online

7/25/18

Controller Series: Retirement and Succession Planning

1

2 PM – 3 PM

$35

$45

Online

8/1/18

Anticipate Engagement: Motivating the Next Workforce

1

12 PM – 1 PM

$35

$45

Online

8/2/18

How to Identify, Explain, and Present Pertinent Financial Information to Non-Accountants

2

2 PM – 3 PM

$75

$90

Online

8/7/18

Anticipate Change: Avoiding Ulcers in the “New Abnormal World”

1

1 PM – 2 PM

$35

$45

Online

8/9/18

Controller Series: Leadership and the Tone at the Top

1

4 PM – 5 PM

$35

$45

Online

8/10/18

Controller Series: Inflation, Deflation, and Stagflation

1

12 PM – 1 PM

$35

$45

Online

8/13/18

Get Ready for the Fast Future - The Anticipatory CPA (FREE FOR MEMBERS)

1

11 AM – 12 PM

$0

$45

Online

8/20/18

Financial Storytelling: The Key in Growing Your Organization to The Next Level

2

11 AM – 1 PM

$75

$90

Online

9/7/18

Controller Series: Uncertainty & Managing Growth

1

12 PM – 1 PM

$35

$45

Online

9/12/18

Excel Power User - Automating with Macros (Part 1)

2

1 PM – 3 PM

$75

$90

Online

9/12/18

Controller Series: Effective Communication and Negotiations

1

4 PM – 5 PM

$35

$45

Online

9/13/18

Anticipate Greatness: Building a Productive, Resilient Workforce

1

2 PM – 3 PM

$35

$45

Online

9/14/18

Anticipate Development: Moving From Employee to Manager to Leader

1

1 PM – 2 PM

$35

$45

Online

9/18/18

Controller Series: Competing Globally

1

2 PM – 3 PM

$35

$45

Online

9/20/18

Controller Series: Good Customer Criteria and the Credit Process

1

10 AM – 11 AM

$35

$45

Online

9/24/18

Controller Series: Going Lean

1

2 PM – 3 PM

$35

$45

Online

10/4/18

Conflict and Communication - You vs. Me vs. Them

2

10 AM – 12 PM

$75

$90

Online

10/8/18

Controller Series: Retirement and Succession Planning

1

4 PM – 5 PM

$35

$45

Online

10/11/18

Anticipate Greatness: Building a Productive, Resilient Workforce

1

3 PM – 4 PM

$35

$45

Online

10/17/18

Controller Series: Leadership and the Tone at the Top

1

11 AM – 12 PM

$35

$45

Online

10/19/18

Anticipate Change: Avoiding Ulcers in the “New Abnormal World”

1

3 PM – 4 PM

$35

$45

Online

10/25/18

Controller Series: Enterprise Risk Management

1

1 PM – 2 PM

$35

$45

Online

10/29/18

Controller Series: Human Resource Effectiveness

1

2 PM – 3 PM

$35

$45

Online

11/5/18

Anticipate Client Needs: Beyond Best Practices in Client and Customer Service

1

4 PM – 5 PM

$35

$45

Online

11/9/18

Get Ready for the Fast Future - The Anticipatory CPA (FREE FOR MEMBERS)

1

12 PM – 1 PM

$0

$45

Online

JULY 2018

49

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

BUSINESS & INDUSTRY (ONLINE), CONTINU ED 11/12/18

Get Out of the Casket and Up to the Podium

2

1 PM – 3 PM

$75

$90

Online

11/16/18

Controller Series: Debt and Equity Mix

1

2 PM – 3 PM

$35

$45

Online

11/19/18

How to Identify, Explain, and Present Pertinent Financial Information to Non-Accountants

2

11 AM – 1 PM

$75

$90

Online

11/20/18

Controller Series: National Infrastructure

1

1 PM – 2 PM

$35

$45

Online

11/27/18

Anticipate Engagement: Motivating the Next Workforce

1

1 PM – 2 PM

$35

$45

Online

12/6/18

2018 CPA Summit

8

8 AM – 4 PM

$230

$330

Towson + Online

12/10/18

Anticipate Development: Moving From Employee to Manager to Leader

1

3 PM – 4 PM

$35

$45

Online

12/11/18

Controller Series: Competing Globally

1

11 PM – 12 PM

$35

$45

Online

$0

$45

Online

ETH I C S ( O N L IN E ) 7/6/18

CPA Continuing Education Requirements - What Every CPA Needs to Know - (FREE FOR MEMBERS)

1

10 AM – 11 AM

7/17/18

Accountants Liability - Positioning Your Firm for Success (Tax Focus)

4

1 PM – 5 PM

$159

$199

Online

7/27/18

Ethics: Critical Thinking, Case Studies, and Fraud

4

10 AM – 2 PM

$110

$140

Online

8/7/18

Accountants Liability - Positioning Your Firm for Success (Audit and Attest Services Focus)

4

1 PM – 5 PM

$159

$199

Online

8/13/18

The Ethics of Change - Keeping Your Balance in Risky Times

2

3 PM – 5 PM

$75

$90

Online

8/28/18

Respect, Safety and Ethics - The Next Step in Harassment Avoidance Executive Briefing

2

2 PM – 4 PM

$75

$90

Online

9/18/18

Accountants Liability - Positioning Your Firm for Success (Audit and Attest Services Focus)

4

1 PM – 5 PM

$159

$199

Online

9/25/18

Ethics: Critical Thinking, Case Studies, and Fraud

4

1 PM – 5 PM

$110

$140

Online

10/16/18

Respect, Safety and Ethics - The Next Step in Harassment Avoidance Executive Briefing

2

1 PM – 3 PM

$75

$90

Online

11/1/18

Accountants Liability - Positioning Your Firm for Success (Tax Focus)

4

1 PM – 5 PM

$159

$199

Online

11/6/18

Ethics: Critical Thinking, Case Studies, and Fraud

4

11:30 AM – 3:30 PM

$110

$140

Online

11/15/18

Accountants Liability - Positioning Your Firm for Success (Audit and Attest Services Focus)

4

1 PM – 5 PM

$159

$199

Online

11/28/18

Accountants Liability - Positioning Your Firm for Success (Tax Focus)

4

1 PM – 5 PM

$159

$199

Online

12/6/18

The Ethics of Change - Keeping Your Balance in Risky Times

2

12 PM – 2 PM

$75

$90

Online

12/14/18

Respect, Safety and Ethics - The Next Step in Harassment Avoidance Executive Briefing

2

3 PM – 5 PM

$75

$90

Online

GO VE R N ME N T (ON LIN E ) 7/5/18

Yellow Book Financial Audits

4

9 AM – 1 PM

$159

$199

Online

9/27/18

2018 Government Contractors Conference

8

8 AM – 4:10 PM

$240

$340

Greenbelt + Online

50

Group discounts are available.

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

16

8 AM – 4:45 PM

$280

$380

Baltimore + Online

LEGISLATIVE & REGULATORY (ONLINE)

LE G I S L ATIV E & RE GULATORY (ONLINE) 9/24/18

49th Annual Chesapeake Tax Conference

PER S O N A L F IN A NCIAL PLAN N IN G (ONLINE) 9/24/18

49th Annual Chesapeake Tax Conference

16

8 AM – 4:45 PM

$280

$380

Baltimore + Online

10/24/18

32nd Annual Personal Financial Planning Conference

8

8 AM – 4:35 PM

$320

$420

Towson + Online

PRA CT I TIO N E R S (ON LIN E ) 9/24/18

49th Annual Chesapeake Tax Conference

16

8 AM – 4:45 PM

$280

$380

Baltimore + Online

12/6/18

2018 CPA Summit

8

8 AM – 4 PM

$230

$330

Towson + Online

SP ECI AL IZ E D K N OWLE DGE & APPLICAT IO NS (ONLINE) 7/6/18

Using Microsoft OneNote as a MAP Handbook Tool

2

10 AM – 12 PM

$99

$129

Online

12/5/18

2018 AI In Accounting and Auditing Conference

4

1 AM – 5 PM

$100

$200

Towson + Online

12/6/18

2018 CPA Summit

8

8 AM – 4 PM

$230

$330

Towson + Online

TAX ( ON L IN E ) 7/2/18

Individual Tax Fundamentals

8

10:30 AM – 6:30 PM

$249

$319

Online

7/6/18

Tax Research I

4

9 AM – 1 PM

$159

$199

Online

7/6/18

Tax Research 2

4

1 PM – 5 PM

$159

$199

Online

7/6/18

Taxation of Property Transactions

4

9 AM – 1 PM

$159

$199

Online

7/9/18

Tax Fundamentals of LLCs and Partnerships

8

10:30 AM – 6:30 PM

$249

$319

Online

7/9/18

Tax Accounting for Inventories

2

2 PM – 4 PM

$99

$129

Online

7/23/18

Understanding the Tax Cuts and Jobs Act of 2017

4

12 PM – 4 PM

$110

$140

Online

7/31/18

The Tax Reform and Tax Law Changes The Impact and What You Need to Know Now

4

12 PM – 3:30 PM

$150

$200

Online

8/2/18

The Tax Reform and Tax Law Changes The Impact and What You Need to Know Now

4

9 AM – 12:30 PM

$150

$200

Online

8/21/18

Understanding the Tax Cuts and Jobs Act of 2017

4

9 AM – 1 PM

$110

$140

Online

9/24/18

49th Annual Chesapeake Tax Conference

16

8 AM – 4:45 PM

$280

$380

Baltimore + Online

11/8/18

Don Farmer’s 2018 Individual Income Tax Workshop

8

8 AM – 4 PM

$290

$440

Baltimore + Online

11/9/18

Don Farmer’s 2018 Corporate Income Tax Workshop

8

8 AM – 4 PM

$290

$440

Baltimore + Online

11/30/18

Don Farmer’s 2018 Federal Tax Update

8

8 AM – 4 PM

$290

$440

Baltimore + Online

12/13/18

MACPA’s 1040 Fast Track

16

8 AM – 4 PM

$350

$450

Columbia + Online

1/10/19

MACPA’s 1040 Fast Track

16

8 AM – 4 PM

$350

$450

Timonium + Online

JULY 2018

51

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM. LOCATION

TECHNOLOGY (ONLINE)

TECHN O L O G Y (ON LIN E ) 7/2/18

The Digital Office The CPA Technology Toolkit

2

10 AM – 12 PM

$99

$129

Online

7/2/18

Adobe Acrobat - Securing Your PDF Files

2

1 PM – 3 PM

$99

$129

Online

7/6/18

Using Microsoft OneNote as a MAP Handbook Tool

2

10 AM – 12 PM

$99

$129

Online

7/20/18

Time to Get Serious About Information Security

2

11 AM – 1 PM

$99

$129

Online

7/24/18

Microsoft Outlook and Word 2010: Productivity Tips and Tricks

2

10 AM – 12 PM

$75

$90

Online

8/14/18

Adobe Acrobat Best Practices and Productivity Features

2

9 AM – 11 AM

$75

$90

Online

8/30/18

Time to Get Serious About Information Security

2

10 AM – 12 PM

$99

$129

Online

9/20/18

Time to Get Serious About Information Security

2

3 PM – 5 PM

$99

$129

Online

10/23/18

Time to Get Serious About Information Security

2

9 AM – 11 AM

$99

$129

Online

11/6/18

Microsoft Outlook and Word 2010: Productivity Tips and Tricks

2

10 AM – 12 PM

$75

$90

Online

12/3/18

Adobe Acrobat Best Practices and Productivity Features

2

12 PM – 2 PM

$75

$90

Online

12/5/18

2018 AI In Accounting and Auditing Conference

4

1 AM – 5 PM

$100

$200

Towson + Online

12/6/18

2018 CPA Summit

8

8 AM – 4 PM

$230

$330

Towson + Online

Women TO WATCH 2018 AWARDS

SEPTEMBER 21

HANOVER THE HOTEL AT ARUNDEL PRESERVE CPE: 1.0 The Women to Watch Awards honor women leaders who have made significant contributions to the accounting profession.

Join MACPA and professionals from around the state to salute the leaders who are moving the profession forward.

KEYNOTE SPEAKER Kimberly Ellison-Taylor, CPA, CGMA, Immediate Past Chair, AICPA; Global Accounting Strategy Director, Oracle Reflections from an extraordinary leader, in extraordinary times.

RSVP AND LEARN MORE AT MACPA.ORG/AWARDS STRATEGIC LEARNING POWERED BY

BUSINESS LEARNING INSTITUTE

52

Group discounts are available.

STATEMENT

MARYLAND ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS 901 Dulaney Valley Road, Suite 800 Towson, MD 21204 410.296.6250 | www.macpa.org

ReliableTaxAttorney.com Do you have clients who are experiencing tax debt or other tax problems?

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•

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Juda Gabaie, Esquire 1829 Reisterstown Road, Suite 350 • Baltimore, MD 21208 (p) 410-358-1500 • (f) 800-918-2270 ReliableTaxAttorney.com • jg@reliabletaxattorney.com

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