MACPA Statement // July 2016

STATEMENT MACPA’S

J U LY 2 0 1 6

JOINT VENTURE GETS THE GREEN LIGHT You voted, the results are in: AICPA/CIMA plan overwhelmingly approved Page 17

ALSO INSIDE 2016-17 MACPA Chair Lisa Cines encourages CPAs to take advantage of the opportunities offered by change Page 4 Meet your 2016–17 MACPA Board of Directors Page 6

Maryland Association of Certified Public Accountants, Inc.

CONTENTS JULY 2016 | Maryland Association of Certified Public Accountants, Inc.

CHAIR’S COLUMN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 FEATURES Never say never . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2016–17 MACPA Board of Directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

DEPARTMENTS News & Views . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Practice Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Business & Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 High-Tech Solutions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30 Professional Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 NYPN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

MEMBER NOTES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 CLASSIFIEDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 UPCOMING EVENTS & COURSES. . . . . . . . . . . . . . . . . . . . . . . . . . 46 ADMINISTRATION Becky Conley becky@macpa.org Amy Stumme amy@macpa.org COMMUNICATIONS Amy Moran amym@macpa.org Bill Sheridan bill@macpa.org Edith Orenstein edith@macpa.org FINANCE Margaret DeRoose margaret@macpa.org Laura Swann, CPA lauras@macpa.org

PRODUCT DEVELOPMENT

Jennifer Stevens jennifer@macpa.org

Akesha Brown akesha@macpa.org

Dee Sullivan dee@macpa.org

Debbie Zizwarek debbie@macpa.org

Emily Trott emily@macpa.org

TECHNICAL SERVICES

Ryan Wey ryan@macpa.org

Cora Edwards cora@macpa.org MaryBeth Halpern marybeth@macpa.org

Kelly Jennings Robert Jirsa, CPA Ray Speciale, Esq., CPA Barrett Young, CPA

SENIOR STAFF

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: Andrew@macpa.org AmyM@macpa.org

OFFICERS Lisa Cines, CPA Chair

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

Chris Dougherty chrisd@macpa.org

Kenneth Kelly, CPA, CGMA Vice Chair

MACPA DEPUTY EXECUTIVE DIRECTOR

Samantha Bowling, CPA, CGMA Secretary/Treasurer

Jacqueline E. G. Brown jackie@macpa.org

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

DIRECTOR OF FINANCE AND ADMINISTRATION

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.

Skip Falatko, CPA skip@macpa.org

The Statement is published four times a year by the Maryland Association of Certified Public Accountants, Inc.

Natalie Atonakas natalie@macpa.org

Paige Sawicki paige@macpa.org

JULY 2016

Jennifer Elder, CPA, CMA, CIA, CFF, CGMA, MS

WE WANT TO HEAR FROM YOU!

Pamela C. Devine pam@macpa.org

Andrew Hood andrew@macpa.org

Rebekah Brown, CPA rebekah@macpa.org

2016-2017 BOARD OF DIRECTORS

Wallace E. Boston, Ed.D., CPA, CGMA, CMA

MACPA EXECUTIVE DIRECTOR

PROFESSIONAL DEVELOPMENT

MEMBER SERVICES

Lauren Baker lauren@macpa.org

Rebecca Zimmerman becca@macpa.org

Avonette Blanding, CPA

Laura Dorsey-Shaner laura@macpa.org Terri Smith terri@macpa.org

Michael Manspeaker, CPA, CGMA Immediate Past Chair DIRECTORS Raj Bhaskar

P: 410.296.6250 F: 410.296.8713 Toll free: 800.782.2036

Bill Sheridan, Editor Amy Moran, Advertising Sales

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CHAIR’S COLUMN OUR PROFESSION IS TRANSFORMING. HERE’S WHAT IT MEANS FOR US.

BY LISA CINES, CPA

RETIRED PARTNER, DIXON HUGHES GOODMAN LLP

I hope your passports are current, because the CPA profession is going global.

On June 18, the American Institute of CPAs announced that its members have joined with members of the Chartered Institute of Management Accountants in approving a plan to create a new, international accounting association that will integrate operations of both organizations while preserving the existing membership bodies. (See related article, page 17.)

Support for the proposal was overwhelming. According to separate independent tabulators, the AICPA ballot passed 86.5 percent to 13.5 percent, while CIMA members endorsed the proposal 89.7 percent to 10.3 percent.

The new association will represent more than 600,000 current and future accounting professionals and “will raise the profile of public and management accounting in the United States and abroad,” according to the AICPA. Members of both organizations will have access to enhanced resources, more market insights, and a stronger advocacy voice.

The proposal isn’t a merger. The AICPA and CIMA will remain their own separate entities. AICPA members today will remain AICPA members and keep all of the same membership benefits they currently receive.

The AICPA itself will remain committed to serving its members and protecting and promoting the CPA profession.

What the proposal will do is create a truly international organization of accounting professionals that is dedicated to strengthening the profession and transforming it into a future­-focused network of the world’s most trusted business advisors.

Current AICPA and CIMA members would automatically become members of the new association, creating a 600,000-member international organization that works to advance and protect all accountants throughout the world.

Equally important, the new association will

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be a powerful advocate for the world’s accountants, fighting against onerous, unnecessary regulation and protecting the public interest.

This is a watershed moment for our profession, for four key reasons: 1. The AICPA and CIMA — two leaders in international accountancy, each with more than 100 years of history — have combined forces for the collective benefit of accounting and finance professionals throughout the world. In the words of MACPA CEO Tom Hood, this new association “gives us an immediate global footprint and increases our numbers to magnify our voices on the global and U.S. regulatory and standards arenas.” Given the pace of regulatory change and complexity, those numbers become critically important. The more folks on our team, the louder our voice becomes.

2. The AICPA / CIMA “joint venture,” as it’s called, started in 2011 with the launch of the Chartered Global Management Accountant (CGMA) designation. The new association is the next step in that joint venture — and since many public accountants have clients who either are CGMAs or work in corporate finance, this proposal is a big deal. The joint venture will give public accountants access to the issues their clients are dealing with and the resources they need to succeed.

3. For public accountants who provide consulting and advisory services, the joint venture will provide access to the networks, resources, and knowledge they need to stay current on the issues and opportunities that will drive the future success of their advisory practices.

4. Given the increasingly borderless, international state of business and finance, this joint venture is an idea whose time has come. “We have a

responsibility to protect and advance the CPA profession in today’s terms,” AICPA President and CEO Barry Melancon has said, “and we also have a responsibility to look further down the road and make sure the profession remains indispensable in the future.”

Mostly, it’s the right thing to do because our profession is changing. Technological and societal advances are transforming what it means to be a CPA. Our core transactional services are disappearing, victims of automation and commoditization.

We’re being disrupted from outside our profession. It’s time to look for our next competitive advantage — and it will likely be found outside our traditional borders as well.

As the profession is changing, so is the MACPA. • We recently launched a new membership model designed to remove the friction from how our members pay for MACPA services, including membership.

• We also unveiled a new MACPA website that’s designed to be cleaner, intuitive, mobile-friendly, and much easier to use.

• The MACPA team has been working in an open-office environment for nearly two years, with impressive productivity results. And now, we are in the process of implementing a completely cloud-based, app based infrastructure that will give us the flexibility and nimbleness to adjust to future trends and opportunities.

For these reasons, I’m tremendously excited to be taking the reins as chair of the MACPA’s Board of Directors. There has never been a more exciting time to be a CPA. We’re on the cusp of transformative advances in our profession. I look forward to working with you as we discover what those advances are … and what they mean for our profession.

STATEMENT

It’s not about climbing the ladder.

It’s about serving your team, your organization, and yourself.

It’s about being a CPA who can lead well.

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BLIonline.org/LeadershipAcademy

‘Never say never’ Disruption is everywhere, but 2016-17 MACPA Chair Lisa Cines encourages CPAs to take advantage of the opportunities offered by change

Lisa Cines’ mantra, “Never Say Never,” helped shape the path of her career.

Cines shares her thoughts below on upcoming challenges, opportunities, and priorities.

Newly installed as chair of the MACPA’s 2016-17 Board of Directors, Cines brings a wealth of experience, ideas, and energy to the position. Known for her skill in developing others, she is regional partner in charge of business development and marketing at Dixon Hughes Goodman LLP, and previously served as managing partner of Aronson, LLP. Her varied leadership roles have included serving as chair of the Montgomery County Chamber of Commerce and as a member of the AICPA’s Board of Directors.

CHALLENGES — AND OPPORTUNITIES “The biggest challenge we face,” says Cines, “is how we will deal with potential disruption in the industry. Said in the language of The Anticipatory Organization, current hard and soft trends that will affect our profession include technology, the gig economy, commoditization of our services, and new models for service delivery.”

An MACPA member since 1983, Cines has seen a great deal of change in both the profession and the association, and relishes the opportunity to lead the organization to even greater success.

“I am extremely excited to serve as chair,” Cines says. “I like to focus on looking out into the future, and at no point in time in my career has it been more important to do that.”

The Anticipatory Organization she cites is a revolutionary new learning system that teaches CPAs how to anticipate future trends and take advantage of the game-changing opportunities those trends offer. Developed by world-renowned technology forecaster, innovation expert and New York Times best-selling author Daniel Burrus, The Anticipatory Organization brings what he calls the greatest missing competency – the ability to anticipate change – to CPAs, CFOs, controllers and management accountants.

It arrives in the nick of time.

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STATEMENT

BY EDIT H O R E NSTE IN The accounting profession has already seen significant changes in three key areas: • Technology-driven disruptors, including mass-marketed tax preparation and financial write-up software that shifts some business from CPAs to non-CPAs and directly to clients.

• Demographic shifts that impact the profession in multiple ways: More college students are studying accounting but fewer are sitting for the CPA exam, and markets and competition have expanded globally since many things are now just a click away.

• Regulation and legislation, which continue to expand, meaning that the hard dollar and reputational cost of compliance failures can be devastating.

With so much changing around us, Cines notes, “The challenge is: How do we evolve?” The Darwinian principle of “survival of the fittest” may truly apply to companies and audit firms that fail to evolve: As cited in a study by the American Enterprise Institute: • Only 12.2 percent of Fortune 500 companies in 1955 were still on the list 59 years later, in 2014.

• Almost 88 percent of companies from 1955 have either gone bankrupt, merged, or still exist but have fallen from the top Fortune 500 companies.

• At the current churn rate, 75 percent of today’s S&P 500 companies will be replaced by 2027.

Just as clients’ business models have evolved in a world that is constantly changing, so too must the CPA profession evolve, says Cines.

“All of these changes create opportunities for the MACPA to help our members redefine what it means to be a trusted advisor,” said Cines, who noted that the role of trusted advisor impacts everyone in profession, including members in public practice, business and industry, and those who join under the expanded membership options opened up by the MACPA this year. The MACPA’s new subscription membership model and expanded membership categories were described in the May 2016 issue of The Statement and can be found at MACPA.org.

“There will be a constant need for new and different skills that the MACPA is so well positioned to both identify for us and educate us on – things like Big Data and data analytics and how to use them in professional services offerings,” says Cines. Another example, she says, is helping our members understand blockchain technology.

Described by The Wall Street Journal as “a data structure that makes it possible to create a digital ledger of transactions and share it among a distributed network of computers,” blockchain powers bitcoin virtual commerce transactions and is seen by many as a revolutionary new way for companies to verify transactions and to digitally track the ownership of assets. In short, blockchain could transform finance as we know it.

“With the professional development and training offered by the MACPA and the Business Learning Institute and what we’ve established with The Anticipatory Organization, we are JULY 2016

extraordinarily well-suited to help our members meet these challenges and take advantage of these opportunities,” says Cines.

PRIORITIES: SELF-ASSESSMENT, BEING ANTICIPATORY With today’s challenges and opportunities facing the profession as a backdrop, what are Cines’ priorities as MACPA chair?

“Part of what I’d like to see over my term is broadening the awareness of change and opportunities, and how to best address them to our members’ advantage,” she said. “We at the MACPA have been doing our own assessment of the disruptors and how we as an organization are going to address them, or what we are offering around them. Doing a self-assessment is not entirely a new concept, since the MACPA has a long history of taking deep looks at ourselves. But we are being more hyper-focused, tying in strategy and how it relates to various things we do.

“My other hope,” she added, “is that there will be a broad adoption of The Anticipatory Organization within our firms, companies, and organizations.”

DIVERSITY AND ADVOCACY With technology, demographics, and regulation forming the triangle of hard trends identified by Burrus in The Anticipatory Organization, what would Cines like to see in the latter two areas?

Having co-chaired the 2015 AICPA Women’s Global Leadership Summit, she says, “I am proud to be a part of the diversity initiative getting started at the state and national level. I’d look forward to building on that, thinking about what we’ve heard, and determining how best to respond, by potential counseling or coaching solutions.” She notes these solutions could address diversity as well as other pipeline and leadership development concerns.

Reflecting on government regulation, Cines observes, “I believe it’s the good advocacy work, at the core of what we do to support our members, that helps educate state and federal legislators and regulators toward regulations that are most effective and least burdensome.” In this regard, she looks forward to seeing the MACPA “continue to stay the course.”

NEVER SAY NEVER Saying it is an exciting time to serve as MACPA chair, Cines said “it is nothing I would have envisioned early on in my career.”

She therefore encourages all members to think positively and broadly about potential opportunities, and to use all the resources available at the MACPA to connect with other members and achieve their maximum potential.

“One of the things I say is never say never,” says Cines. She encourages people to take advantage of opportunities as they present themselves. “No part of your career is a destination; it’s all part of the journey, and it’s exciting to see where the journey takes you.”

With Cines at the helm, it looks like it will be a meaningful journey.

Edith Orenstein is a contributor to The Statement.

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LEADERSHIP MACPA’s 2016–17

BOARD OF DIRECTORS

The MACPA’s 2016-17 slate of officers and directors was voted into place at the association’s Annual Meeting, held June 21 in Baltimore. Here’s a closer look at this year’s Board of Directors.

OFFICERS Lisa Cines, CPA Chair Employer: Dixon Hughes Goodman Title: Retired partner, Rockville office Notable: An MACPA member since 1983. Has more than 30 years of public accounting experience. Before joining Dixon Hughes Goodman, served as managing officer, chairman of the board, and partner in charge of business and corporate development for a nationally ranked top 50 regional accounting firm. Prior to that, spent 20 years working with federal government contractors providing audit, tax and consulting services for emerging and mid-market companies. A frequent speaker on matters related to accounting firm management and leadership development.

An active participant in many industry and business organizations and community groups. Her efforts have been recognized by several media and industry outlets, and in 2005, she was named one of the Washington Business Journal’s “25 Women Who Mean Business.” A member of the AICPA Board of Examiners, the Junior Achievement Board of Directors, the Montgomery County Chamber of Commerce Board of Directors, the University of Maryland Accounting Department Advisory Board, Rockville Economic Development Board, the Montgomery County Chamber of Commerce Foundation Board, and the AICPA Board Task Force on FASAB Rule 203 Review. A former member of the AICPA Board of Directors.

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STATEMENT

LEADERSHIP OFFICERS Kenneth Kelly, CPA, CGMA Vice 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. Serves 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.

Samantha Bowling, CPA, CGMA

Michael Manspeaker, CPA, CGMA

Secretary / treasurer

Immediate past chair

Employer: Garbelman, Winslow, Benish, Deck, Grannel & Ewaski

Employer: Smith Elliott Kearns & Company, LLC

Title: Partner

Title: Director of Accounting and Auditing and Quality Control

Notable: An MACPA member since 1998. In July 2005, became the first woman to be admitted as partner at Garbelman, Winslow, Benish, Deck, Grannel & Ewaski.

Recognized in April 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.

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 concludes in October. A board member for the Nazakat Foundation, which was formed on the belief that we have a moral and spiritual obligation to extend a helping hand to those less fortunate. A 1993 magna cum laude graduate from Salisbury University. A member of the American Institute of CPAs, the Greater Washington Society of CPAs, the AICPA Employee Benefit Plan Audit Quality Center, and the Maryland Chamber of Commerce. Team captain for the Avon Walk for Breast Cancer since 2005.

JULY 2016

Notable: An MACPA member since 1979. Joined Smith Elliott Kearns & Company in 1986 and admitted as a member in 1990. Serves as member-in-charge of the Audit Department in the firm’s Hagerstown office. Chairs the firm’s Accounting and Auditing Committee. A former member of the AICPA’s Auditing Standards Board who served on several Auditing Standards Board task forces.

Former chair of the PKF North America Accounting and Auditing Committee and chair of the Maryland Peer Review Committee. Has served as an instructor for accounting and auditing CPE courses on the local, regional, and national levels. A member of the Kiwanis Club of Hagerstown.

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LEADERSHIP B O A R D O F D I RE CTORS CON TIN UED F RO M PAGE 7

DIRECTORS

Raj Bhaskar

Avonette Blanding, CPA

Employer: Hurdlr

Employer: Maritime Applied Physics Corporation

Title: Founder and CEO

Title: Chief financial officer

Notable: Joined the MACPA’s Board of Directors in April 2016 as a public (non-CPA) member. A technologist, entrepreneur, and angel investor. Co-founder and CEO of Hurdlr, an application for “solopreneurs” and freelancers such as Uber drivers and Airbnb hosts that helps them seamlessly track income, expenses, and tax deductions in real-time on the go. Previously owner and CEO of VisualHOMES, a software company focused on property management for the state and local government sector. VisualHOMES was acquired by Yardi Systems in 2010.

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.

Wallace E. Boston, Ed.D., CPA, CGMA, CMA

Jennifer Elder, CPA, CMA, CIA, CFF, CGMA, MS

Employer: American Public Education, Inc.

Employer: The Sustainable CFO

Title: CEO

Title: President

Notable: An MACPA member since 1981. After five years with Price Waterhouse, spent 17 years in the health care industry working as CFO at three companies and COO and CEO at a fourth.

Joined a private equity-backed online university in 2002 and led it to regional accreditation in 2006, an IPO in 2007, and national recognition for its quality initiatives. Has authored and co-authored publications on online learning, student engagement, and retention.

Serves on corporate and non-profit boards.

Notable: An MACPA member since 2008. A strategic business coach who helps businesses and CFOs stay relevant and solve tough problems with strategic solutions. As a keynote speaker, trainer, and business coach, has conducted more than 400 seminars for the Fortune 500, the United States government, state CPA societies, and CPA firms in 45 states and three countries.

A published author, is one of only two women to be named Outstanding Educator by the AICPA for the past four years.

Named a 2015 Woman to Watch by the MACPA. When not on the road teaching, lives on her boat in Baltimore with her husband and two cats.

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STATEMENT

LEADERSHIP DIRECTORS

Kelly Jennings

Robert Jirsa, CPA

Employer: Quincy CFO LLC

Employer: RSM US LLP

Title: Founder and CEO

Title: Partner

Notable: An MACPA member since 1999. After a start in the Big 6, has spent her career in business and industry, primarily in the Montgomery County / Washington, D.C. area. After working 15 years in controller / CFO roles, she founded Quincy CFO, an outsourced-CFO service focused on building the disciplines of financial reporting, forecasting, and the back office. Has played a role in the MACPA’s Business and Industry Committee, Technology Committee, and Mentor Program Initiative.

Notable: An MACPA member since 1978. Has more than 30 years of audit and accounting experience, including extensive experience in wholesale and commercial distribution, manufacturing, and services industries with multi-state and international operations.

Has served on the MACPA’s Accounting Standards Committee and Auditing Standards Committee, and has been an instructor at national continuing education courses for CPAs. Recently served on the AICPA Global Manufacturing Conference Committee.

Currently serves on the board of the University of Maryland Upper Chesapeake Health System and the Loyola University Sellinger School Board of Sponsors.

Ray Speciale, Esq., CPA

Barrett Young, CPA

Employer: Mount St. Mary’s University

Employer: The Green Abacus

Title: Associate professor

Title: Founding member

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.

Notable: An entrepreneur since 2012 and an outsourced controller for startup tech companies. An active member of the MACPA since becoming a CPA in 2010. A 2012 graduate of the MACPA’s Leadership Academy and an active member of the Thriveal CPA Network. An avid powerlifter, he will have competed in three competitions in 2016, taking a gold medal in his weight class for his January 2016 meet. Enjoys reading, cooking, playing guitar, and snowboarding.

JULY 2016

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NEWS & VIEWS Maryland’s Mikulski: ‘Get off the sidelines’ Longest-serving woman in congressional history brings career to a close with a message: Get local, and get active B Y BI L L S H E R IDA N , CA E The United States Congress is losing an icon this year. Maryland’s CPAs are losing a friend and legislative ally.

Sen. Barbara Mikulski, a Maryland Democrat whose nearly three decades of service make her the longest-serving woman in congressional history, will not be seeking re-election this year. Her successor will be determined when U.S. Rep. Chris Van Hollen, a Democrat and seven-term congressman, faces Republican Maryland Del. Kathy Szeliga in this fall’s general election.

years. As Mikulski’s “key person” within the profession, he often served as a bridge between the profession and Mikulski, linking CPA leaders and volunteers with the senator’s office and opening the door for what Kamanitz called “honest and straightforward” conversations and debate on issues that impact CPAs and their clients.

More than that, Mikulski a friend.

Kamanitz

Mikulski: The MACPA has displayed a driven and dedicated commitment to the men and women you represent. That commitment to your cause says much about your character.

I’ve appreciated the opportunity to work together on behalf of Maryland families, businesses, and communities. Together, we have moved forward on important issues like data transparency and worked to end the race-to-the-courthouse mentality that ends up in needless lawsuits for firms that should be focused on creating jobs.

Closer to home, Mikulski has worked closely with CPA leaders in Maryland and beyond over the years to bring about reasoned legislation on issues related to business, finance, fraud, and technology.

Kamanitz, a longtime MACPA member and legislative volunteer, has worked with Mikulski on legislative issues for nearly 30

Statement: You’ve been a friend of the MACPA and the profession over the years. What has been your most rewarding interaction with the CPA profession during your time in office?

considers

Mikulski’s decision to step down marks the end of an era in Maryland and American politics. She became the first woman from Maryland to be elected to the United States Senate in 1986, and she is the first woman and first Marylander to serve as chair of the Senate Appropriations Committee.

“Sen. Mikulski has been a great friend of the CPA profession for many years,” said MACPA Executive Director Tom Hood.

“She has always been willing to offer her advice and, many times, her full support behind some of our national legislative issues. They say all politics is local, and Sen. Mikulski and her special relationship with MACPA legislative leader Larry Kamanitz proved that point. The AICPA often called on Larry and Barbara to help with federal issues. She was great leader for Maryland and a great friend to Maryland CPAs, and she will be missed.”

time out of her busy schedule to reflect on her tenure in Washington and her work with the CPA profession. Here’s what she had to say.

U.S. Senator Barbara Mikulski “On national and state issues, she was simply fantastic,” Kamanitz said. “She did things for this profession that no one else could have done, and she has been one of the great leaders in promoting women’s issues. As a legislator, she has been great, and as a Marylander, she has been even better. She has been absolutely wonderful for the state of Maryland.”

As the clock winds down on her congressional career, Mikulski took some

Statement: Larry Kamanitz has been instrumental in getting Maryland CPAs involved in the legislative process, both at the federal and state levels. How did you get to know Larry and what are your thoughts on working with him over the years on issues important to the CPA profession?

Mikulski: Larry Kamanitz and I have known each other for a long time. His political savvy helped me win and his business savvy has helped me govern. He has been one of my advisors from the business community. He was also one of the leaders on my 1986 Senate campaign, which made me the first Democratic woman senator elected in her own right. He has always been there for me.

He also has always been there for CO N T I N U E D O N PA GE 13

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STATEMENT

SEPTEMBER 19

Government Contractors CONFERENCE

Managing government engagements with precision The Government Contractors Conference is designed to help CPAs procure government contracts and excel.

Featured topics address the concerns and opportunities unique to government clients.

Inn & Conference Center at UMUC College Park, MD 8:00 a.m. – 4:30 p.m.

macpa.org/GovContractors 12

TOPICS INCLUDE: • DCAA Update • Current Access Accounting Issues • Navigating the Pitfalls of the Truth in Negotiations Act • Industry Overview • M&A • The New COSO/ACFE Fraud Risk Management Guide

STRATEGIC LEARNING POWERED BY

STATEMENT

NEWS & VIEWS MIKU L SKI, CON TIN U ED FR O M PAG E 1 0

Maryland’s CPAs, as an advocate for small and medium-size businesses. I appreciate Larry’s advice, expertise, and passion.

Whenever we’ve met to talk sequester or fiscal policy, he’s come prepared and ready to represent the views of the CPAs of Maryland.

He also helped me understand how sound accounting can be used to prevent waste and fraud. I know from him about exciting new fields like forensic accounting can be.

Statement: We’ve seen lots of turmoil in the financial sectors over the past few years. What role do you think CPAs should be playing in this changing and complex world?

Mikulski: CPAs play an important role in helping people and businesses understand and manage their finances. Too many families are vulnerable — seniors in particular. CPAs are able to use their specialized training to help protect people and businesses from identity thieves, phone scammers, cyber criminals, and phishers.

Statement: You’ve served longer in Congress than any other woman. How have things changed for women in public service since 1986?

Mikulski: Though I was the first Democratic woman elected in her own right, I knew I wanted to be the first of many. At that time, it was just me and Sen. Nancy Kassebaum, a Republican from Kansas.

In 1992, four new women were elected to the Senate, for a total of six Senate women. That’s when I started hosting a bipartisan Senate Women Power Workshop for the newly elected women senators. The workshop is an opportunity to discuss topics like how to set up offices, getting on the right committees, and building coalitions to get things done.

As dean of the Senate women, I’ve worked to create a zone of civility among Democratic and Republican women. We have a monthly dinner together where we JULY 2016

have three rules: no staff, no memos, and no leaks. We talk about everything from our hair to the hair-raising!

Today, we have an historic number of 20 Senate women. We’re making a difference every day because we know that it’s not about gender, it’s about having an agenda to make our economy stronger and our nation safer.

Statement: What message would you send to women who might be drawn to public service or leadership today?

Mikulski: Sen. Kirsten Gillibrand has a book and organization called Get Off The Sidelines. That’s what I think we need to say to inspire our future leaders. They think all the battles have been won, or if you can Google it, it will be solved.

We need to show them that politics is local, and if you want to get involved, you need to find your passion at the local level.

We need to tell our young people, especially young women, to get off the sidelines. Each one of us can make a difference, but together we make change.

Statement: How do you want to be remembered by your constituents?

Mikulski: I am proud to be the senator from Maryland and the senator for Maryland. I have never forgotten my roots and have always made my home in Baltimore.

I’ve been on your side, working as a champion for security in old age. I’ve always valued constituent services. No issue has ever been too big to take on or too small to take up. When my constituents call, I do everything I can to help. I’ve fought for soldiers in need of compassionate leave and seniors in need of a Social Security check. Government should never get so big that it forgets the little people.

Throughout my career, I’ve gone home each night to the city of Baltimore. From city activist to United States senator, I‘ve always

believed that all politics and policy is local.

I thank the people of Maryland for honoring me with their confidence and trust. I’ve tried to live up to it and will continue to do that every day.

Statement: What inspires you? What kept you coming back to Washington for three decades?

Mikulski: I grew up in Highlandtown in East Baltimore. My father ran a neighborhood grocery store where he wanted to provide good, honest service and spread a view that we are all in it together. Every day he’d open his store, saying to his neighbors and customers, “Good morning. Can I help you?”

It’s this sense of service that has continued to inspire me. Each day, as I travel from my home in Baltimore to Capitol Hill, I think about how I can help the people of this country. I think of how I can serve the day-to-day needs of Marylanders and the long-range needs of the nation.

Statement: What’s your last bit of advice for our nation’s CPAs? Mikulski: The Marines have a saying: “Be best at what you’re best at. Be best at what you’re needed for.” As our nation’s CPAs, it is my hope that you will continue to be involved in our communities.

There are a lot of people who are left out and left behind. Take your tremendous education and tremendous skills to help those who need it. That could mean using your talents to help struggling families or non-profits — and getting involved with groups like the MACPA. We are at our best — as individuals and as a country — when we work to help not just ourselves, but our community.

Bill Sheridan is editor of The Statement and chief communications officer of the MACPA.

13

NEWS & VIEWS DOL’s new overtime rule: Assessing the impact F RO M T H E A I CPA

The Department of Labor on May 18 released a final rule amending the requirements for overtime pay that would dramatically increase the salary thresholds for exemption for CPA firms and other businesses in Maryland and throughout the nation.

Under the Fair Labor Standards Act, employees who work more than 40 hours in a week are entitled to overtime pay unless they meet the requirements of either wage-level and duties tests. The new rule doubles the minimum salary threshold from $23,660 to $47,476 annually and raises the exemption salary level for what are considered “highly compensated employees” from $100,000 to $134,004 annual. The Department of Labor estimates that this rule change will directly impact some 4.2 million workers across the United States not currently eligible for overtime and may reclassify an additional 8.9 million salaried workers as non-exempt.

Businesses nationwide are assessing the effects of the new overtime-pay rule, with many companies saying the regulation will lead them to reduce workers’ hours, cut benefits, or limit flexible office arrangements.

14

Companies will have until Dec. 1 to make determinations on which employees to reclassify as non-exempt and implement the changes.

In Maryland, CPA firms and clients alike are expressing concern about the rule’s impact.

Further, the DOL does not take into consideration the seasonal nature of the accounting profession, nor the numerous small firms that are unable to increase the salaries of their employees to comply with the exemption threshold while also meeting the demands of tax season each year.

“The rule may be well-intentioned but is likely to have unintended consequences,” said MACPA Executive Director Tom Hood, CPA. “Expanding the pool of overtimeeligible employees will force firms and companies to resort to cost-saving measures to maintain current payroll levels.

The Labor Department received 270,000 public comments on its proposal, many from employers who believe the rule will force them to cap workers’ hours, slow the hiring of full-time employees, and shift salaried workers to hourly schedules.”

“The proposed revisions fail to modernize or streamline the regulations, are not reflective of the realities of the modern workplace and a changing workforce, and would adversely affect both employees and employers,” said Barry Melancon, CPA, CGMA, president and CEO of the American Institute of CPAs. “The DOL’s modifications to the rule did little to lessen the likelihood that CPA firms and countless other businesses will be forced to curtail hiring – and may even have to reduce the size of their workforce.”

While most accounting firms will work to absorb the additional payroll expectations, the overtime rule will have a significant negative impact on smaller accounting firms. Of particular concern are the impacts the change in overtime has on major decisions such as hiring, expansion, the offering of benefits, and the ability to offer flexible working arrangements.

The MACPA will continue to work with the AICPA, the U.S. Chamber of Commerce’s Partnership to Protect Workplace Opportunity, and the American Society of Association Executives to urge Congress to intervene in the process so that regulations governing overtime pay reflect the evolving workplace in a manner that is not economically counterproductive.

STATEMENT

JULY 2016

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STATEMENT

NEWS & VIEWS CPAs overwhelmingly approve AICPA / CIMA ‘joint venture’ F RO M T H E A I CPA A N D M A CPA STAF F REPO RT S

AICPA members have voted to approve a plan from the AICPA and the Chartered Institute of Management Accountants to create a new, international accounting association that will integrate operations of both organizations while preserving the existing membership bodies.

Voting concluded in separate AICPA and CIMA membership ballots on June 16, and a supermajority of members who voted from both organizations endorsed the proposal. The AICPA ballot passed 86.5 percent to 13.5 percent, according to independent tabulator Survey and Ballot Systems. CIMA members endorsed the proposal 89.7 percent to 10.3 percent, according to their independent tabulator Electoral Reform Services.

“In developing this proposal, we were careful to structure commitments to CPA and CGMA, CIMA and AICPA, and public practice and management accounting,” said AICPA President and CEO Barry Melancon, CPA, CGMA. “We are excited about crafting a path forward that reflects how the world is changing. At the same time, we will be extraordinarily mindful of protecting our collective history and the strong reputation both organizations have built over the past century. This is about building on what is great – and addressing an exciting evolving world.”

JULY 2016

The proposal is the latest step in a multipronged “joint venture” between the AICPA and CIMA. The first step in the joint venture resulted in the 2012 creation of the Chartered Global Management Accountant designation, or CGMA. The new association will represent more than 600,000 current and future accounting professionals and will raise the profile of public and management accounting in the United States and abroad. It will enhance resources, provide more market insights, and have a stronger advocacy voice.

AICPA members will get these benefits and automatic dual membership in the AICPA and the new association as part of their regular AICPA dues, which will continue to be set and adjusted in line with historic norms. The AICPA will continue its strong partnership with state societies to promote, protect, and grow the CPA. “(The joint venture) brings together two global leaders in accountancy with more than 100 years of history and leverages the strengths and resources of both for our collective benefit,” writes MACPA Executive Director Tom Hood, CPA. “Combining the memberships via this joint venture gives us an immediate global footprint and increases our numbers to magnify our voices on the global and U.S.

regulatory and standards arenas. In the United States, CPAs continue to lead this new area and recognize the value of nonCPA CGMAs working with us in many of our organizations.”

Hood said MACPA members have been strongly supportive of the plan.

He explained the joint venture to members in a series of town hall meetings in the fall. He found that roughly 76 percent of MACPA members in attendance said they either “liked it, loved it, or could live with it.” About 20 percent said they needed more information before deciding, and only 4 percent said they opposed the plan.

Based on that support, the MACPA’s Board of Directors passed a resolution in January in support of the AICPA moving forward with the joint venture. Fifty-one other CPA societies − 47 states plus Washington D.C., Guam, Puerto Rico and the Virgin Islands − have adopted similar resolutions in support of the proposal.

The new association is expected to launch in 2017. Additional details will be provided as they become available in the coming months.

17

PRACTICE MANAGEMENT Look before you leap: Assessing the shifting legal landscape for CPAs servicing the medical marijuana community

BY E R I C J . R O LLIN G E R A N D JE REMY M. VAIDA

Within the coming months, “cannabusinesses” will begin operating in Maryland, making tax year 2016 exciting and unsettling for many CPAs in the state. While the coming online of an entirely new businesses sector is enticing, medical cannabis presents unique challenges to thoughtful CPAs.

18

Due to irreconcilable contradictions between federal and state law, CPAs and other professionals are placed in a legal quandary of whether or not to provide services to this emerging industry. This question is not easily answered, but must nevertheless be considered by any CPA seeking to engage cannabusinesses.

This article aims to serve as the beginning of an ongoing conversation by analyzing key questions posited by the AICPA and determining how they apply specifically to CPAs in Maryland.

WHAT, IF ANY, IS THE POSITION OF MY STATE BOARD OF ACCOUNTANCY ON CPAS PROVIDING SERVICES TO MARIJUANA GROWERS / DISTRIBUTERS? Maryland’s State Board of Public Accountancy has not published any official guidance on the question of whether CPAs in this state may provide accounting and financial services to marijuana growers, producers, and distributors. However, at its June 2, 2015 public meeting, the Board discussed inquiries from a number of cannabis license applicants who asked STATEMENT

PRACTICE MANAGEMENT whether CPA practitioners would be in violation of the Code of Professional Conduct or the Public Accountancy Act if such individuals provided services to the medical marijuana businesses community.1 Attorney Matthew Lawrence, speaking as counsel for the Board, asserted that as long as the marijuana business was operating legally under state law, CPAs working for the business would not be in violation of the Public Accountancy Act or the Code of Professional Conduct.2

accountants, of marijuana businesses may be prosecuted under federal law.

However, beginning in 2015, Congress, through its annual Appropriations Act and subsequent Continuing Resolution, has arguably decriminalized medical marijuana businesses in those states where it has been legalized, such as Maryland.5 This has been achieved by preventing the Department of Justice6 from expending any funds to enforce the Controlled Substances Act in such jurisdictions. Specifically, the law states:

Therefore, while there has been no amendment to the Public Accountancy Act or official changes to the Code of Professional Conduct, the Maryland Board of Accountancy’s position seems to be that CPAs can service the cannabusiness industry without offending their legal or ethical obligations under Maryland law.

“None of the funds made available in (the Appropriations Act) to the Department of Justice may be used, with respect to the States of …

Maryland ... to prevent such States from implementing their own laws that authorize the use, distribution possession, or cultivation of medical marijuana.”7

WHAT ARE THE LEGAL RISKS OF PROVIDING SERVICES TO THESE BUSINESSES IN MY STATE?

This provision was recently tested in the Federal District Court for the Northern District of California, where the Court held, in the case of United States v. Marin Alliance, that “Section 538 forbids the Department of Justice from enforcing (the Controlled Substances Act) against (medical marijuana businesses) to the extent that (such businesses) operate in compliance with (state) law.”8

The primary legal risk for any professional servicing a medical marijuana business in Maryland is that they will be prosecuted for aiding and abetting the trafficking of controlled substances under the Controlled Substances Act, the federal anti-drug law.

Under federal law, “(w)hoever commits an offense against the United States or aids, abets, counsels, commands, induces or procures its commission, is punishable as a principle.”3 The U.S. Attorney General’s office has clarified this provision and asserted that “(p)ersons who are in the business of cultivating, selling or distributing marijuana and those who knowingly facilitate such activities, are in violation of the Controlled Substances Act, regardless of state law.4 Consequently, the official position of the Department of Justice is that “facilitators,” such as

Therefore, in at least one federal jurisdiction, medical marijuana businesses can feel assured that they will not be charged criminally. However, it is unclear whether the provision also protects professionals from aiding marijuana businesses or only protects the cannabusinesses themselves.

IS THERE A RISK OF PROSECUTION TO A CPA FIRM THAT PROVIDES SERVICES TO MARIJUANA-RELATED BUSINESSES? As previously discussed, there is a risk that a CPA could be criminally prosecuted

State of Maryland Board of Public Accountancy, Minutes of June 2, 2015 Meeting.

2 Ibid.

3. 18 U.S.C. § 2(a).

4. Memorandum for United States Attorneys from James M. Cole, deputy attorney general, “Guidance Regarding the Ogden Memo in Jurisdictions.

1

JULY 2016

for providing services to marijuana-related businesses. However, based on the current state of the law, such a risk appears to be relatively low. Nevertheless, a CPA seeking to provide such services should seek the advice of an attorney knowledgeable in this area to assess the CPA’s likely criminal exposure in light of the proposed scope of engagement. As with many areas of the law, the particular facts and circumstances surrounding an individual case will have great bearing on the degree of potential risk. Thus, it is strongly urged that CPAs first seek legal counsel prior to engaging with any marijuana businesses.

WHAT IS THE LIKELIHOOD THAT THE DRUG ENFORCEMENT ADMINISTRATION OR THE DEPARTMENT OF JUSTICE IS GOING TO PROSECUTE MARIJUANA-RELATED BUSINESSES? Based on the above, it appears relatively unlikely that either the DEA or the Department of Justice will seek to prosecute medical marijuana businesses in Maryland.

That being said, the Appropriations Act effectively decriminalizing medical marijuana in certain jurisdictions only applies to fiscal year 2016.9 Thus, absent another act of Congress, medical marijuana businesses will lose whatever protection they have gained on Oct. 1, 2016. Additionally, absent continued Congressional action in this area, a change in national enforcement priorities by the president of the United States could herald a return to national criminal enforcement.

Finally, the case of United States v. Marin Alliance interpreting the Appropriation’s Act provision was an unpublished federal district court opinion out of arguably one of the most liberal districts in the United States.

Consequently, the case has no precedential authority over any other jurisdiction. Thus, were a Maryland cannabusiness to rely on the case, a Maryland District Court could

P.L. 113-235, § 538; P.L. 114-53, § 103.

It should be noted that the Drug Enforcement Agency is housed within the Department of Justice.

7 Ibid.

8 United States v. Marin Alliance, No. C 98-00086 CRB, 2015 U.S. Dist.

LEXIS 141940 (N.D. Cal. October 19, 2015).

9 P.L. 114-53, Sec. 8 (U.S. fiscal year 2016 ends on September 30, 2016).

5 6

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PRACTICE MANAGEMENT easily ignore the opinion and find that the Appropriations Act does not prohibit the federal government from enforcing the Controlled Substances Act. Therefore, while medical marijuana businesses have defensible legal arguments against federal enforcement of the Controlled Substances Act in Maryland, such arguments are hardly bulletproof.

CPA is found to have aided and abetted a client charged with illegally growing, producing, or selling marijuana, a CPA’s involvement will likely not be covered by any policy.10 For this reason, it is critical that CPAs exercise caution before engaging with a medical marijuana businesses and interact only with those who have taken steps to minimize their chances of criminal prosecution.

HOW ARE OTHER CPAS IN MY STATE CURRENTLY OFFERING SERVICES TO STATE-RECOGNIZED MEDICAL MARIJUANA DISPENSARIES?

WHAT IS THE LIKELIHOOD THAT I MAY BE DISCIPLINED, SANCTIONED, OR LOSE MY LICENSE BY PROVIDING SERVICES TO THESE BUSINESSES?

To date, licenses permitting the growth, production, and distribution of medical marijuana under Maryland state law have yet to be awarded. Consequently, CPAs’ role in this area has been limited.

As discussed above, the Maryland State Board of Accountancy has provided unofficial guidance to its members that servicing the medical marijuana community does not violate state law or offend the ethical rules governing accountants in Maryland. Nevertheless, the bylaws of the AICPA mandate that a member be sanctioned if he or she is convicted of a crime punishable for more than one year.11 Therefore, even if a CPA in Maryland is not disciplined by local professional authorities, such an individual could still be sanctioned by the AICPA if he or she were criminally convicted for aiding and abetting a marijuana business.

Nevertheless, CPAs have engaged prospective licensees to offer advice and counseling on financial and other matters. To the extent that such activities are limited to prospective licensees, CPAs’ involvement in this area does not appear to violate any federal laws. Once the licenses are awarded, CPA assistance could be construed as “facilitating” the trafficking of controlled substances and prohibited.

It goes without saying that CPAs should be particularly wary of persons currently engaging in the growth, production, or sale of marijuana without a license, as doing so is clearly illegal under both federal and state law and could open a CPA to criminal exposure.

HOW WILL PROVIDING THE CONTEMPLATED SERVICES AFFECT MY MALPRACTICE INSURANCE? HOW WILL IT AFFECT MY PROFESSIONAL LIABILITY INSURANCE? All professional liability insurance has an exclusion for criminal acts. Therefore, if a

WHAT PROCEDURES / POLICIES SHOULD I CONSIDER IN ORDER TO ASSESS WHETHER THE PROSPECTIVE CLIENT UNDERSTANDS THE LAWS OF THEIR STATE CONCERNING MARIJUANARELATED BUSINESSES AND IF THE CLIENT IS FOLLOWING THOSE RULES? In order for accountants to be shielded from federal prosecution, CPAs must be sure that the business with whom they have engaged is fully compliant with state law. The courts already have allowed the Justice Department to prosecute marijuana businesses whose operations did not strictly comply with state law.12

An Issue in Brief on State Marijuana Laws and the CPA Profession, AICPA, (July 24, 2015), p. 16, available at http://www.aicpa.org/.../ DownloadableDocuments/MarijuanaCPAsIssueBrief.pdf.

11 AICPA Bylaws, §§ 7.3.2.1, 7.3.2.3, and 7.3.1.1.

12 United States v. Tote, No. 1:14-mj-212, 2015 U.S. Dist. LEXIS 76572, 10

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Thus, before engaging with a medical marijuana business, CPAs should inquire as whether the business has retained legal counsel. While medical marijuana businesses could conceivably comply with state law without legal assistance, the laws and regulations governing this area are varied and complex. Therefore, CPAs should strongly advise potential clients that they at minimum have their operations and agreements reviewed by an attorney. Doing so will greatly reduce a CPA’s possible criminal exposure by minimizing the likelihood the medical marijuana business will be prosecuted under federal law.

The above rubric, while instructive, does not counsel explicitly in favor or against CPAs servicing the cannabusiness industry in Maryland. While certainly to some, the answers to these questions will bring a level of assurance, others will find the risk of criminal exposure unbearable.

Regardless of one’s level of involvement in the medical cannabusiness community in Maryland, CPAs would do well to consider the questions above. In all cases, a CPA’s strongest defense against criminal prosecution is to ensure that both the CPA and prospective clients are fully compliant with state law.

The future of medical marijuana in Maryland will assuredly bring great opportunity to the residents of this state, but will also bring great risk. Through careful planning, a discerning CPA can hope to seize the former while avoiding the latter.

Eric J. Rollinger is an attorney and CPA and principal at Stein, Sperling, Bennet, De Jong, and Driscoll, P.C. Jeremy M. Vaida is an attorney at Stein, Sperling, Bennet, De Jong, and Driscoll, P.C., practicing in the area of tax controversy and tax planning.

2015 WL 3732010 (E.D. Cal. June 12, 2015); United States v. FirestackHarvey, No. 13-cr-24, 2015 WL 3533222 (E.D. Wash. June 4, 2015); United State v. Silkeutsabay, No. 13-cr-140, 2015 U.S. Dist. LEXIS 64853, 2015 WL 2376170 (E.D. Wash. May 18, 2015).

STATEMENT

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The survey provides an unprecedented opportunity to compare your firm with other firms of similar size in key areas of firm practice management.

The survey covers issues that will allow your firm to compare its financial performance and operations to other firms, and to gain strategic insights into building a more profitable and rewarding practice.

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The value of these benchmarks depends on broad participation among CPA firms. In other words, the more firms that participate in the survey, the more accurate and informative the benchmarks will be.

So be sure to make your firm’s voice heard

and contribute your data to this important benchmarking survey.

• Those who participated in the

2014 survey should visit www.aicpapcpsmapsurvey.com to sign in using the credentials they created in 2014.

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the sign-up form at www.aicpapcpsmapsurvey.com to create an account and have immediate access to the survey.

The survey will close to new participants on Friday, July 15.

For more information about PCPS and the latest news on the National MAP Survey, please visit aicpa.org/mapsurvey.

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BUSINESS & INDUSTRY The effects of FASB’s recent update on market volatility B Y K H A L E D ABDE L G H A N Y, P H. D., CPA OP I NI O N Note: In January, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” This update requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income.

effects of the new requirements on stock market volatility. The author concludes that FASB should have kept the option of recognizing the changes in fair value for long-term equity investment as other comprehensive income in the comprehensive income statement, as this option is allowed under IFRS No. 9. The market volatility has already had great impact on companies’ reported earnings.

This impact will be strengthened when there are significant fluctuations in reported earnings, because of recognizing the unrealized gain or FASB stated that this update should improve loss on long-term equity investments in the financial reporting by providing relevant current earnings. information about an entity’s equity investments and reducing the number of items that are On the other hand, these significant fluctuations recognized in other comprehensive income. in reporting earnings would add more energy and fuel to keep the market volatility This article presents analysis and discussion of the higher and intensified.

FASB Accounting Standard Update No. 2016-01 requires that the changes in the fair value of all equity investments, whether short-term or long-term equity investment, be recognized in the current period net income. This update also eliminates the requirement to classify the equity investment into trading and available-for-sale securities. The new update did not change the requirements of reporting the unrealized holding gains and losses on available-for-sale debt securities as other comprehensive income in the comprehensive income statement.

FASB stated that the amendments in this new update make targeted improvements to Generally Accepted Accounting Principles (GAAP) as follows: 1. It

requires

JULY 2016

equity

investments

(except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.

2. It simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment.

When a qualitative assessment indicates that impairment exists, an

entity is required to measure the investment at fair value.

3. It eliminates the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities.

4. It eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet.

5. It requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes.

25

BUSINESS & INDUSTRY 6. It requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrumentspecific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments.

7. It requires separate presentation of financial assets and financial liabilities

by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements.

8. It clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets.

The recent update will result in reclassification of the investment in securities in the Accounting Standard Codification into the following topics: 1. Topic 320, Investments Debt Securities

—

2. Topic 321, Investments Equity Securities

—

3. Topic 323, Investments — Equity Method and Joint Ventures 4. Topic 325, Investments — Other The requirements of the update are similar to the International Financial Reporting Standard No. 9, “Financial Instruments.”

However, IFRS 9 allows an entity to make an irrevocable election at initial recognition to present subsequent changes in fair value in other comprehensive income (without recycling) for particular investments in equity instruments that otherwise are measured at fair value through profit or loss.

The new FASB requirements will remove the unrealized holding gain or loss on long-term equity investments from the balance sheet and the comprehensive income statement, and report them in the income statement for the current period.

This would result in significant fluctuations in the reported income and earnings per share, and consequently, increasing uncertainty and market volatility.

26

The table on page 27 shows the amounts of the unrealized holding gain or loss on available for sale investment for the 30 companies of Dow Jones Industrial Average for 2014 and 2015. When the new accounting update is adopted, a significant part of these amounts (related to equity securities) will be recognized in the income statement instead of the comprehensive income statement.

The stock market’s volatility in recent years became highly unexpected. Market analysts always blame the disappointing information about the Chinese economy and / or low oil prices. Several times during 2015 and early 2016, the Dow Jones Industrial Average moved up and down 1,000 points or more in a single trading day. Most of the U.S. companies reported strong financial positions and earnings and presented solid fundamentals for growth or dividend. However, during 2015 and early 2016, the stock market volatility showed significant impact on companies’ stock prices.

The recent increase in market volatility will cause the fair value of the long-term equity investment to exercise significant changes that will, according to the new FASB update, be reflected in the current period earning figures. Consequently, significant fluctuations in companies’ reported earnings would add more energy and fuel to market volatility. Reporting the unrealized holding gain or loss on long-term equity investment in the current earning could intensify the inter-cycle effect between market volatility and companies’ earnings and make this cycle unbreakable.

FASB stated that one of the expected benefits of this update is eliminating the presentation of changes in the fair value of an equity investment in other comprehensive income. I believe that eliminating one line from the comprehensive income statement does not present a measurable benefit to the financial statements users, nor does it justify significant fluctuations in companies’ reported earnings.

STATEMENT

BUSINESS & INDUSTRY Unrealized Holding Gain or (Loss) on Available for Sale Securities Reported as Other Comprehensive Income for 30 Companies of Dow Jones Industrial Average ($ in millions) COMPANY

2015

2014

COMPANY

2015

2014

3M

$0

$2

Intel

$(710)

$577

American Express

(38)

33

Johnson & Johnson

471

156

Apple

(483)

385

J P Morgan Chase

(2,144)

1,975

Boeing

0

0

McDonalds

0

0

Caterpillar

9

(12)

Merck

0

57

Chevron

N/A

(2)

Microsoft

(362)

1,737

Cisco

(12)

233

Nike

0

0

Coca-Cola

N/A

714

Pfizer

0

(640)

Disney

(87)

5

Procter & Gamble

24

9

E I Du Pont

(19)

0

Travelers

0

0

Exxon Molil

33

(63)

United Technology

28

35

General Electric

708

(374)

United Health

(123)

476

Goldman Sachs

0

0

Verizon

(11)

(5)

Home Depot

0

0

Visa

(21)

(44)

(54)

(29)

Wal-Mart

0

0

IBM Source: www.sec.gov/edgar

FASB also stated that presenting the changes in the fair value in net income is a more relevant measurement attribute for equity investments and, thus, a benefit for users. That is because the total realizable value of most of those investments primarily could be realized ultimately by selling the equity instruments. This contrasts with debt instruments for which value can be realized through collection of interest and principal.

The role of accounting is to provide information that is accurate and reliable for investors and stakeholders. Moving the unrealized holding gain loss on available-for-sale equity investment from the balance sheet and comprehensive income to the income statement would not add more relevance or reliability to the accounting information. On the other hand, it would put the U.S. companies in a situation where the recent ongoing market JULY 2016

volatility would have stronger impact on their reporting earnings.

IN CONCLUSION The significant efforts of FASB and the International Accounting Standards Board to improve financial reporting and achieve convergence on a single recognition and measurement model are undeniable.

However, I believe FASB should have kept the option to make irrevocable election, at initial recognition, to recognize the change in fair values of long-term equity investment as other comprehensive income — similar to the option allowed under IFRS 9. This option should allow an investing company that predicts that the market price of certain long-term equity investment is going to have significant volatility to elect, at initial recognition, to recognize the changes in the fair value of this investment in the comprehensive income statement.

By making this irrevocable election, an investing company will avoid the shortterm impacts on the current year net income because of the stock’s high beta and, consequently, reduce the effect of market volatility. On the other hand, if an investing company invested in a longterm equity investment with low beta (such as high-dividend paying or utility stocks), the change in the fair value of these equity investments would be recognized in the current-year net income with a minimum effect of market volatility on the company’s earnings.

FASB’s new update could have significant impact on increasing the effects of market volatility on companies’ reported earnings, and vice versa.

Khaled Abdel Ghany, Ph.D., CPA, is an executive accounting advisor with D.C. Government.

27

The Many Faces of CCH Solutions are Inspired by One Common Goal — Success The current MACPA Chairman of the Board, Michael Manspeaker, is a major peer reviewer and is well known in the audit space. His firm, Smith Elliott Kearns & Company, LLC, has been a longtime user of CCH® ProSystem fx® Engagement to help improve its audit process, and has no plans to move to anything else.

“I feel that the CCH ProSystem fx Engagement product is the best available and would not consider changing to other software.”

— Michael Manspeaker, CPA, CGMA, Director of Accounting and Auditing and Quality Control, Chairman of MACPA Board of Directors, Smith Elliott Kearns & Company, LLC

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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?

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Why leave your future to chance?

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I am an actively licensed CPA in Maryland and Virginia with over 20 years of experience including public accounting (E&Y) and consulting (KPMG), financial accounting (American Cancer Society), internal audit (Moneyline Telerate), and recruiting (Acsys, formerly Don Richards). As a networker who truly enjoys helping others and sharing my career experiences to guide fellow professionals, 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!

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HIGH-TECH SOLUTIONS Remote control: Tips for building a successful flexwork arrangement B Y J A C Q U E L I NE RATZ IN G In today’s world, traditional workplaces are becoming a thing of the past. With continuous changes in technology, global competition, generational differences, caregiving responsibilities, and economic factors, firms are being forced to re-evaluate their traditional workplaces and how they approach their workforce.

Firms offering flexible work arrangements have seen multiple positive benefits not only for the firm but also for their employees. These arrangements work to attract, retain, and engage a quality workforce of the best and brightest employees without geographical restrictions. Flexible work arrangements for employees increase employee productivity, quality of work, health and wellness, and personal life benefits, among multiple other positive effects.

But how can firms create successful flexible work arrangements?

SUPPORT STARTS AT THE TOP The firm’s leadership needs to be a unified front in their commitment to a results-based culture. Less emphasis should be placed on where an employee is physically working.

Instead, the focus should be on the work that is being produced. If leadership does not support the initiative, flexible work arrangements will not succeed.

At Boomer Consulting, our leaders are unified in their way of thinking and promote flexible work arrangements through remote workers, flexibility with employee hours, and the ability to work remotely from any location when needed.

Not only do leaders need to support the initiative, they must lead by example and provide their team with the tools and resources that are required to successfully work remotely. At Boomer Consulting, all of

30

our leaders are remote workers, continually leading by example and making a conscious investment in technology, continual training, and giving all employees support with flexible work arrangements.

COMMUNICATION When remote workers are added to a firm, it is easy for them to become siloed.

Employees who work remotely may have the most frequent communication within their designated department and find it difficult to have open lines of communication between all departments of the firm. On the flipside, employees who work in the office can become siloed and lose sight of other employees who are not around on a day-to-day basis. It is important to keep the lines of communication open and flowing to ensure that employees see the bigger picture when it comes to their jobs and the overall success of the organization.

With the flexible work environment at Boomer Consulting, we continuously keep our lines of communication open. As an example, the team videoconferences in and shares updates and announcements during our weekly staff meeting. We have weekly one-on-one calls via Google Hangouts with appropriate team members and continuously utilize Google Messenger to say hi or ask questions.

As important as it is for firms to have open and flowing communication, it should not only be based around business.

MOVING THE WATER COOLER CONVERSATIONS ONLINE While you are communicating important business information throughout the day, it is also important for employees to get to know one another on a personal level. Small talk within the office creates connections, which most of us do not appreciate until they are gone. Spontaneous chats with

co-workers also help influence creative input, gain feedback, and keep employees in the loop as to what is going on in the office and the firm.

It is important for leadership to encourage spontaneous conversations and for employees, whether in the office or working remotely, to feel that it is acceptable to jump on a video conference call with a co-worker and chat for a couple of minutes.

Some firms have gone so far as to use company-wide messaging apps such as Slack, HipChat, Yammer and many more to encourage the sharing of random articles, videos, and humorous finds for the office to share. Make sure to define which messages are appropriate for which channels of communication.

INVEST IN FACE TIME While technology such as video conferencing, instant messaging, and messaging apps can encourage the open flow of communication, nothing can replace face-to-face time with coworkers.

These face-to-face meetings can help reset expectations, strengthen bonds within the firm, and help strengthen the culture.

These meetings can be team retreats, team training days, strategic planning, or can be done on much smaller levels.

At Boomer Consulting, we do both. Our company comes together as a full team for three meetings each year to encourage that open flow of information face-to-face.

This year, we have even tried something new: Our remote consultants held a oneday meeting to collaborate and prepare for upcoming projects. This required fly and / or drive time, but the benefits were immense as the team bonding flourished.

EVOLUTION OF FIRM CULTURE It is important to note that a firm’s culture STATEMENT

HIGH-TECH SOLUTIONS does not exist in its own bubble. It will evolve as flexible work arrangements start to become the norm. The shift in thinking and communication needs to permeate throughout the organization, and it is important to get employee buy-in.

The Boomer Consulting team is always looking for new and exciting ways to engage with our remote workers. At our three face-to-face meetings a year, we celebrate all employees’ birthdays and

anniversaries that have taken place between the meetings. We send digital birthday cards signed by each employee in the organization, and each month we hold our “FISH! Fridays,” an idea that originated from the FISH! Philosophy for team building. These meetings are an hour long and everyone is invited via videoconference to share lunch or bring their favorite beverage on a Friday afternoon. It is a great way for employees to catch up and have a couple of laughs.

As flexible work arrangements become more prevalent, what works for one firm may not work for yours. It is important to pay attention to your employees’ lifestyle choices and get to know their hobbies and what is important to them. This will help to build a unique process for your firm that effectively builds your culture while engaging all employees.

Jackie Ratzing is a project manager with Boomer Consulting.

SKIP THE DRIVE. SIMULCASTS NOW AVAILABLE. New simulcasts on a new platform are now available for your convenience.

MACPA members are receiving better content and training than ever before. Our conferences, special events, and seminars are getting incredible reviews and participation.

But we know that sometimes long travel times can prevent you and your staff from attending these great events.

That’s why we have launched a new season of CPE simulcasts on a new platform. Try it out by registering for one or more of these upcoming courses today!

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7/15

Accounting for Deferred Income Taxes

7/15

Best Practices for Payroll Taxes and 1099 Issues

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Controller’s Update: Today’s Latest Trends

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Ethics for the Industry Accountant Frank Ryan, CPA

View more at macpa.org/calendar.

31

PROFESSIONAL DEVELOPMENT Not attending conferences? Do a cost-benefit analysis B Y C H R I S B E N SON , CPA , P FS

In January, I had to miss my annual trip to the AICPA’s Advanced PFP Conference in Las Vegas. Thanks to technology, I was still able to “attend” many of the great sessions virtually and had my usual long list of takeaways from the outstanding lineup of speakers.

But something was missing from this experience. Being there virtually just wasn’t the same as actually being there.

I was born in 1982, so I’m technically sandwiched in between Generations X and Y. I’m usually lumped in as a so-called “millennial.” I am obsessed with technology and consider myself an early adopter who always wants to try new software and gadgets first. I love being able to work from anywhere and I live my life in the cloud. I’m active on social media and would rather text you than call you. I do all my banking and the majority of my shopping online. In short, I love technology and all the benefits it brings.

32

Knowing all this, you might think I would actually prefer to attend a conference virtually. It does have its perks; I watched some sessions from the comfort of my living room couch! But I found the drawbacks to be greater.

The biggest thing I missed was the ability to interact with others. To be fair, there was a chat room feature that allowed people to chime in and discuss the sessions with each other virtually. If you want to know what that was like, imagine a live version of the comments section in a YouTube video.

There was a lot of complaining and very little constructive discussion.

I’ve always been a conference-goer. In addition to the AICPA PFP Conference, each year I also attend the MACPA’s PFP Conference and usually at least one other conference that varies from year to year.

Why do I go to so many conferences? As an accountant, I do a simple cost-benefit analysis in my head. If the benefits of going

to a conference outweigh the costs, why wouldn’t I go?

There are many attending conferences:

benefits

to

1. Networking: I already covered this, but it needs to be said again. You might not think you need to network and you might not like to do it, but you never know when it will benefit you. Maybe you meet someone who helps you find your next job or who helps bring you some new clients. Or maybe you just make a new friend or meet a colleague you can share ideas with. The possibilities are endless.

2. Learning: I don’t think I’ve ever been to a conference where I didn’t learn at least one new thing.

Continuing education is an important part of our profession for a reason. As Albert Einstein said, “Once you stop learning, you start dying.”

STATEMENT

PROFESSIONAL DEVELOPMENT 3. Inspiration: I find people who attend conferences and who are really engaged (i.e., not just there for the CPE) are also the brightest and most motivated people in the profession.

If you surround yourself with these people, they will rub off on you and you will be inspired to go back to work and improve your business.

4. Innovation: If you want to move your business forward, there is no better place to gather ideas than at a conference. I typically come back from conferences full of ideas for the future of our firm and our profession.

5. Business solutions: Don’t forget to visit the sponsors at the conference.

You might find a new product or technology you’ve never heard of that could solve some problems you face at your firm.

6. A different perspective: It’s easy to get complacent and start to think your way is the only way or the best way to do things. You need to get outside your organization to see what other people are doing every once in a while.

7. CPE: OK, I didn’t want to list this because it’s the last reason I think you should attend conferences.

Unfortunately, I think far too many people attend conferences only to get their required CPE. While it shouldn’t be the top reason to attend a conference, it is a very valuable side benefit.

I find it hard to believe that any of you could look at this list of benefits and still tell me the costs of attending a conference are too high. The percentage of association members who actually attend conferences is way too low, and we need to change that.

The MACPA puts on some outstanding events that are extremely affordable, and since they are local, you don’t even need to pay for travel costs.

If you aren’t attending at least one professional conference every year, I challenge you to step back and think about why. Do a cost-benefit analysis. I’ll bet you’ll be able to convince yourself to sign up for one.

And I might be biased here, but maybe you should consider the MACPA’s Personal Financial Planning Conference on Oct. 25 at the Sheraton North in Towson. Whether you are doing financial planning for your clients, interested in doing financial planning, or just want to be more knowledgeable about your own financial planning, I guarantee you will find it valuable.

Chris Benson, CPA, PFS, is the chair of the MACPA’s 2016 PFP Conference.

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NYPN is now the Young Professional Council WHAT IS THE YOUNG PROFESSIONAL COUNCIL? The MACPA recognizes that young professionals in the first several years of their career face unique challenges - passing the exam, navigating different career options and find a place in the profession. In 2003, the MACPA created the New/Young Professionals Network to engage young accounting and finance professionals in Maryland with learning and networking opportunities designed specifically for them. This year, NYPN has rebranded as the Young Professional Council.

We hope this council format helps us to engage with more young professionals in a way that is easier for them. All events, including planning meetings, will be open to all MACPA young professionals. If you’re not sure you are on the mailing list to receive these invites, please check the box next to MACPA Young Professional Updates on the email preferences section of your member account settings on the MACPA website.

RECENT EVENTS May 12 - We had an awesome time learning about the future of the profession, networking and cheering on the O’s at Camden Yards!

UPCOMING EVENTS August 4-5 - AICPA EDGE Experience August 10 - Summer Happy Hour at Boathouse in Canton – RSVP at youngcpa.eventbrite.com TBD - Fall CPE and Networking Event December 15 - CPA Summit January 26 - CPA Day in Annapolis

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MEMBER NOTES FIRM NOTES R. Frank Abel, CPA, CFF, CFE, CGMA, CIDA, attended the fifth Bright Insights IDEA User Conference, hosted by CaseWare Analytics. In addition, Abel has earned the Certified IDEA Data Analyst (CIDA) designation. The CaseWare Analytics certification provides a standard accreditation that distinguishes him as being able to utilize CaseWare Analytics technology in his daily analysis and / or audit work.

Allen DeLeon, CPA, PFS, CITP, founding partner of DeLeon & Stang Certified Public Accountants and Advisors, presented a two-day seminar in Asheville, N.C., recently on “Supervisory Committee Development.” DeLeon presented along with Michael Daigneault, principal and founder at Quantum Governance.

Lisa Johnson, CPA, a manager in the Non-Profit Group at Gross, Mendelsohn and Associates, PA, was appointed to the board of Community Law in Action, a Baltimore-based non-profit dedicated to mentoring and shaping young people into leaders through initiatives at the city and statewide level.

Michael E. Kipe, CPA, a manager in the Hagerstown office of Smith Elliott Kearns and Company, LLC, was presented with the 2016 Outstanding Alumnus Award by the Hagerstown Community College Alumni Association at the college’s recent Honors Convocation. The award is presented for meritorious service to and support of the HCC Alumni Association.

Christopher Mahon, CPA, a longtime member of the CohnReznick team, has been named the new managing partner of the firm’s Tysons, Va., office, effective immediately.

Arlene R. Thayer, AAAPM, executive vice president and chief operating officer of KatzAbosch, has been awarded an Executive Management Award

by SmartCEO. The Executive Management Awards program recognizes the leadership and accomplishments of the region’s management allstars — CFOs, CIOs / CTOs, chief legal officers / general counsels, chief HR officers, and other C-suite executives.

Daniel L. Weaver, CPA, vice president and director of Not-for-Profit Services with Councilor, Buchanan & Mitchell, PC, has been named to the Board of Directors of The Children’s Inn at NIH, a private, non-profit “Place Like Home” for children and their families participating in pediatric research at the Clinical Center of the world-renowned National Institutes of Health.

42

DeLeon & Stang Certified Public Accountants and Advisors has been ranked as a top workplace for flexibility by Fortune.

The “50 Best Workplaces for Flexibility” is Fortune’s national ranking of companies and firms produced from input provided by anonymous employee surveys. DeLeon & Stang is ranked No. 30 on the list.

Dixon Hughes Goodman LLP (DHG), a top 20 public accounting and advisory firm, has joined forces with Stegman & Company, the oldest Maryland-based CPA firm. DHG adds this strategic market location to its footprint and will continue to serve clients across a wide range of industries with expanded resources. DHG welcomes Virginia Anderson and Michael Giuffrida as directors.

James Dougherty, Elizabeth Gantnier, Garrett Parks, M. Conor Quinn, Keith Wiessner and William Williams Jr. have been admitted as DHG partners. Quinn will serve as market managing partner for the greater Baltimore market.

Jerome O. Jacobs and Associates, PA, of Towson has merged with Bell and Frech, LLC, to form Bell Frech and Jacobs, LLC, effective Jan. 1, 2016. The office has relocated to Columbia to serve the Baltimore and Washington, D.C., metropolitan areas.

Smith Elliott Kearns & Company, LLC, has been named a Regional Leader in Accounting Today’s Top 100 Firms Report for 2016. The firm was recognized as one of 16 leading firms in the Capital Region based on firm revenue and growth over the last year. The Capital Region is composed of Delaware, Maryland, Virginia, Washington D.C., and West Virginia.

IN MEMORIAM Scott Anderson, CPA, who managed the tax department at Arthur Bell CPAs and was a member of the firm’s Executive Committee, has died. He was 52. He was an MACPA member since 1994 and was an active member of the MACPA’s Political Action Committee.

Jacob Radin, CPA, an MACPA member since 1955, a life member of the association, and an avid violinist who served on the board of the Shriver Hall Concert Series for several decades, died on Jan. 31 at the Springwell Senior Living community in Mount Washington. He was just 17 days shy of his 100th birthday.

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Retirement minded CPA (former Deloitte) with practice grossing $200K looking to associate with seasoned CPA having at least 10 years client contact and experience. Association will lead to favorable acquisition time frame and terms. Unqualified Peer Review in 2014. Professional practice with significant consulting revenue and NO payroll or bookkeeping. Very profitable. DIRECT INQUIRIES IN STRICT CONFIDENCE TO: AmyM@macpa.org.

NO BROKERS.

CPA INTERESTED IN ACQUIRING PRACTICE OR ACCOUNTS IN HOWARD/BALTIMORE COUNTY AREA Reply in strictest confidence to AmyM@macpa.org (File 2-25).

MARYLAND PRACTICES FOR NORTHEAST MD, GROSS $665K -

SALE:

Accounting (11%), tax (89%), loyal client base, strong fee structure, cash flow around 63%, staff in place to assist with transition. Washington County MD, gross $380K - Tax 64%, Accounting 36%, loyal client base, good fee structure, strong cash flow around 43%, and tenured staff in place. For more information please call (800) 397-0249. See nationwide listings and register for free email updates at www.AccountingPracticeSales.com.

44

delivering integrated wealth advisory, outsourcing, and public accounting capabilities to help clients succeed professionally

clients. The firm continues to expand and grow in the northeast region and is looking to acquire professional service firms in the Baltimore- Washington metropolitan area. Learn more about CLA at www.claconnect.com. Respond in confidence to Amym@macpa.org.

TUTORING AVAILABLE for the CPA exam. James C. Borra, 301-365- 7525.

GIVE YOUR COMPANY VALUABLE EXPOSURE TO NEARLY 10,000 MACPA MEMBERS BY ADVERTISING YOUR CLASSIFIED AD IN THE STATEMENT. How to Submit a Classified Ad

To submit a classified ad, please visit macpa. org/submitclassifieds, or contact Amy Moran at 443.632.2319, or by email amym@macpa.org.

CONFIDENTIAL ADS: Replies to confidential ads should be addressed to the file number in care of: Amy Moran MACPA 901 Dulaney Valley Road, Suite 800 Towson, MD 21204 Properly addressed replies will be forwarded to the advertiser unopened. Replies that are not properly addressed will be opened only to determine contents and then forwarded to the advertiser.

STATEMENT

'16-'17 SERIES

A

Quarterly Financial Leaders Series

M E E T I N G of the

MINDS that lead firms and organizations

Quarterly, CFOs, Controllers, and other senior-level CPAs in business and industry meet to share with and learn from each other at the Quarterly Financial Leaders Series. Gain four hours of CPE and enjoy the facilitated discussion that will happen during the provided lunch.

Join the Community

Register for the 2016-2017 series now and save at BLIONLINE.ORG/QFLS.

2016-2017 QUARTERLY FINANCIAL LEADERS SERIES FINANCIAL STORYTELLING: THE KEY IN GROWING YOUR ORGANIZATION TO THE NEXT LEVEL 9/22/16 | Columbia | Event ID: 171020

BUILDING A HIGH PERFORMANCE CULTURE: HUMAN CAPITAL AS A COMPETITIVE ADVANTAGE 12/1/16 | Columbia | Event ID: 171021

GET READY FOR THE FAST FUTURE: THE ANTICIPATORY CPA 3/23/17 | Columbia | Event ID: 171022

CRITICAL THINKING FOR FINANCE

5/18/17 | Columbia | Event ID: 171023

STRATEGIC LEARNING POWERED BY

DATE

COURSE TITLE

CPE

TIME

Upcoming IN-PERSON Events & Courses DATE

COURSE TITLE

MEMBER

EVENT ID

LOCATION

NON-MEM

WEBCAST Events & Courses: page 53 CPE

TIME

MEMBER NON-MEM.

EVENT ID

LOCATION

ACCOUNTING & AUDITING (IN-PERSON) 7/15/16

Interpreting the New Revenue Recognition Standard: What All CPA’s Need to Know

4

12 p - 3:30 p

$150 ­— $200

111307A

The Loyola Graduate Center, Timonium

7/15/16

Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

8 a - 11:30 a

$150 ­— $200

111306A

The Loyola Graduate Center, Timonium

7/19/16

Studies on Single Audit and Yellow Book Deficiencies

8

8 a - 3:30 p

111308A

Johns Hopkins University Montgomery County Campus, Rockville

7/27/16

Advanced Auditing for Defined Benefit Pension Plans

16

8 a - 3:30 p

211309A

MACPA Columbia Center, Columbia

8/11/16

Forensic Accounting Investigative Practices

8

8 a - 3:30 p

111310A

The Loyola Graduate Center, Timonium

8/12/16

Internal Controls and Risk Assessment: Key Factors in a Successful Audit

8

8 a - 3:30 p

111311A

The Loyola Graduate Center, Timonium

8/16/16

Revenue Recognition: Mastering the New FASB Requirements

8

8 a - 3:30 p

111313A

The Loyola Graduate Center, Timonium

8/19/16

Upcoming Peer Review: Is Your Firm Ready?

8

8 a - 3:30 p

111314A

MACPA Columbia Center, Columbia

9/7/16

IFRS Standards: Financial Reporting in a Global Environment

8

8 a - 3:30 p

111315A

MACPA Columbia Center, Columbia

9/9/16

Real World Fraud in Today’s Small- to MediumSized Entities

8

8 a - 3:30 p

111316A

MACPA Columbia Center, Columbia

9/16/16

Annual Update for Preparation, Compilation, and Review Engagements

8

8 a - 3:30 p

111317A

The Loyola Graduate Center, Timonium

9/19/16

2016 GOVERNMENT CONTRACTORS’ CONFERENCE

8

8 a - 4:30 p

121008

University of MD University College The Inn & Conference Center, College Park

9/21/16

Identity Theft: Preventing, Detecting, and Investigating Identity Theft

8

8 a - 3:30 p

9/29/16

Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

8 a - 3:30 p

$295 ­— $395 $1475 ­— $1575 $295 ­— $395 $295 ­— $395 $295 ­— $395 $295 ­— $395 $295 ­— $395 $295 ­— $395 $295 ­— $395 $255 ­— $355 $295 ­— $395 $295 ­— $395

111318A

Mount Continuing Studies Center, Frederick

111319A

MACPA Columbia Center, Columbia

111307A

The Loyola Graduate Center, Timonium

BU SI N ESS & I ND US T RY ( I N - P E RS O N) 7/15/16

46

Interpreting the New Revenue Recognition Standard: What All CPA’s Need to Know

4

12 p - 3:30 p

$150 ­— $200

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

EVENT ID

LOCATION

NON-MEM

BUSINESS & INDUSTRY (IN-PERSON), CONTINUED 7/15/16

Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

8 a - 11:30 a

8/11/16

Forensic Accounting Investigative Practices

8

8 a - 3:30 p

8/15/16

Employment Law Update: Key Risks and Recent Trends

8

8 a - 3:30 p

8/16/16

Revenue Recognition: Mastering the New FASB Requirements

8

8 a - 3:30 p

9/7/16

IFRS Standards: Financial Reporting in a Global Environment

8

8 a - 3:30 p

9/9/16

Real World Fraud in Today’s Small- to MediumSized Entities

8

8 a - 3:30 p

9/19/16

2016 GOVERNMENT CONTRACTORS’ CONFERENCE

8

8 a - 4:30 p

9/21/16

Identity Theft: Preventing, Detecting, and Investigating Identity Theft

8

8 a - 3:30 p

9/22/16

47th ANNUAL CHESAPEAKE TAX CONFERENCE

16

8a-5p

9/22/16

Quarterly Financial Leaders Series - Financial Storytelling: The Key in Growing Your Organization to the Next Level

4

8 a - 12 p

9/22/16

Quarterly Financial Leaders Series Bundle

16

8 a - 12 p

$150 ­— $200 $295 ­— $395 $295 ­— $395 $295 ­— $395 $295 ­— $395 $295 ­— $395 $255 ­— $355 $295 ­— $395 $285 ­— $385

111306A

The Loyola Graduate Center, Timonium

111310A

The Loyola Graduate Center, Timonium

111312A

MACPA Columbia Center, Columbia

111313A

The Loyola Graduate Center, Timonium

111315A

MACPA Columbia Center, Columbia

111316A

MACPA Columbia Center, Columbia

121008 111318A

University of MD University College The Inn & Conference Center, College Park Mount Continuing Studies Center, Frederick

221000

Martin’s West, Baltimore

$180 ­— $230

171020

MACPA Columbia Center, Columbia

$620 ­— $820

471000

MACPA Columbia Center, Columbia

$1475 ­— $1575

211309A

MACPA Columbia Center, Columbia

111400

MACPA Columbia Center, Columbia

111401

MACPA Columbia Center, Columbia

111402

MACPA Columbia Center, Columbia

111420

MACPA Columbia Center, Columbia

182063

MACPA Columbia Center, Columbia

EMPLOY E E B E N E F I T S ( I N - P E R S O N) 7/27/16

Advanced Auditing for Defined Benefit Pension Plans

16

8 a - 3:30 p

FIN A N C I A L PL AN N I N G ( I N - P E R S O N) 8/17/16

The Complete Guide to Preparing Forms 706 and 709

8

8 a - 3:30 p

9/19/16

A Practical Guide to Trusts

8

8 a - 3:30 p

9/27/16

Making the Best of Bad Situations

8

8 a - 3:30 p

9/28/16

The Best Estate and Financial Planning Topics of 2016

8

8 a - 3:30 p

$295 ­— $395 $295 ­— $395 $295 ­— $395 $295 ­— $395

FRAU D & FORE N S I C ( I N - P E R S ON) 7/15/16

Accountant’s Roles in Bankruptcy- FVS Speaker Series

2

8:30 a - 10:30 a

8/11/16

Forensic Accounting Investigative Practices

8

8 a - 3:30 p

JULY 2016

$50 ­— $60 $295 ­— $395

111310A

The Loyola Graduate Center, Timonium

47

DATE

COURSE TITLE

CPE

TIME

MEMBER

NON-MEM EVENT ID

LOCATION

NON-MEM

FRAUD & FORENSIC (IN-PERSON), CONTINUED 9/9/16

Real World Fraud in Today’s Small- to MediumSized Entities

8

8 a - 3:30 p

9/21/16

Identity Theft: Preventing, Detecting, and Investigating Identity Theft

8

8 a - 3:30 p

$295 ­— $395 $295 ­— $395

111316A

MACPA Columbia Center, Columbia

111318A

Mount Continuing Studies Center, Frederick

$295 ­— $395

111312A

MACPA Columbia Center, Columbia

$255 ­— $355

121008

University of MD University College The Inn & Conference Center, College Park

G OV ER N M EN T / N O T- F O R - P R O F IT ( IN- PERS O N) 8/15/16

Employment Law Update: Key Risks and Recent Trends

8

8 a - 3:30 p

G OV ER N M EN T C O N T R AC T I N G ( IN- PERS O N) 9/19/16

2016 GOVERNMENT CONTRACTORS’ CONFERENCE

8

8 a - 4:30 p

MA N A G EM E N T & L E AD E R S H I P ( IN- PERS O N) 7/15/16

Accountant’s Roles in Bankruptcy- FVS Speaker Series

2

8:30 a - 10:30 a

$50 ­— $60

182063

MACPA Columbia Center, Columbia

9/22/16

Quarterly Financial Leaders Series - Financial Storytelling: The Key in Growing Your Organization to the Next Level

4

8 a - 12 p

$180 ­— $230

171020

MACPA Columbia Center, Columbia

9/22/16

Quarterly Financial Leaders Series Bundle

16

8 a - 12 p

471000

MACPA Columbia Center, Columbia

9/30/16

2016 Women to Watch Awards Breakfast

1

8:30 a - 11 a

191016

The Hotel at Arundel Preserve, Hanover

182063

MACPA Columbia Center, Columbia

195005

MACPA Columbia Center, Columbia

111420

MACPA Columbia Center, Columbia

111400

MACPA Columbia Center, Columbia

111401

MACPA Columbia Center, Columbia

221000

Martin’s West, Baltimore

111402

MACPA Columbia Center, Columbia

111420

MACPA Columbia Center, Columbia

$620 ­— $820 $75 ­— $75

S P EC I A L I ZED K N O WL E D G E ( I N -PERS O N) 7/15/16

Accountant’s Roles in Bankruptcy- FVS Speaker Series

2

8:30 a - 10:30 a

7/20/16

Practice Continuation Agreements and Other Critical Documents for Small Firms

2

11:30 a - 1:30 p

9/28/16

The Best Estate and Financial Planning Topics of 2016

8

8 a - 3:30 p

$50 ­— $60 $0 ­— $25 $295 ­— $395

TAX (IN -PE R SO N ) 8/17/16

The Complete Guide to Preparing Forms 706 and 709

8

8 a - 3:30 p

9/19/16

A Practical Guide to Trusts

8

8 a - 3:30 p

9/22/16

47th ANNUAL CHESAPEAKE TAX CONFERENCE

16

8a-5p

9/27/16

Making the Best of Bad Situations

8

8 a - 3:30 p

9/28/16

The Best Estate and Financial Planning Topics of 2016

8

8 a - 3:30 p

48

$295 ­— $395 $295 ­— $395 $285 ­— $385 $295 ­— $395 $295 ­— $395

STATEMENT

Mitch Halbrich Senior Director Executive Consulting

They say people are your biggest assets and we’re proving it! Randstad Professionals offers a network of thousands of the finest finance and accounting professionals to give you the competitive edge with your next hire. Our unrivaled knowledge of the local market is further backed by a $22 billion organization with offices across the globe. Add to that our 30-year track record of success and unrivaled personal service and it’s no wonder we’re the number one professional recruitment firm in the region and why 90% of our business is from repeat customers. Whether looking for recent graduates or CPAs, you can count on Randstad to provide the talent you need to boost your bottom line.

Finance & Accounting, Banking, IT Direct Hire, Human Resources, Sales & Marketing

Baltimore: (410) 752-5244 / Columbia: (410) 872-9100 Offices also in Washington / Bethesda / Vienna, VA Visit us at randstadusa.com Randstad, formerly The Mergis Group

The Choice is Yours When choosing the University of Baltimore Masters of Science in Accounting and Business Advisory Services program, you’ll go beyond just accounting.

Our curriculum is tailored to working professionals like you. The program prepares you for the CPA exam and your career by using an holistic approach that includes courses in finance and information systems. Apply now.

For more information about our graduate program offering visit: ubalt.edu/gradaccounting UB Alumni lead more of Baltimore’s largest accounting firms.* *According to the 2016 Baltimore Business Journal Book of Lists, the University of Baltimore has 9 alumni who are managing or co-managing Baltimore’s 25 largest accounting firms.

i

i

Top Talent to Improve your Bottom Line

DATE

COURSE TITLE

macpa.org/ChesapeakeTax CPE TIME MEMBER EVENT ID

LOCATION

NON-MEM

47TH ANNUAL

C O N F E R E N C E

September 22-23

A yeAr of chAnges in 2 dAys Every year, the Chesapeake Tax Conference offers tax CPAs a robust look at the new changes and issues affecting tax accounting. The event features topics related to federal and state taxation, as well as specialty topics.

Martin’s West | Baltimore | 8:00 a.m.

Simulcast Available

STRATEGIC LEARNING POWERED BY

JULY 2016

51

NON-MEM

Women

TO WATCH 2016 AWARDS

Recognizing outstanding female CPAs in Maryland September 30

•

Hanover

Join us to honor women leaders who have made significant contributions to the accounting profession at this special awards ceremony.

•

The Hotel at Arundel Preserve

macpa.org/Awards PRESENTING SPONSOR

PLATINUM SPONSORS

52

STATEMENT

Upcoming ONLINE Events & Courses

DATE

DATE

COURSE TITLE

COURSE TITLE

CPE

TIME

MEMBER

EVENT ID

LOCATION

EVENT ID

LOCATION

NON-MEM

CPE

TIME

MEMBER NON-MEM.

ACCOUNTING & AUDITING (WEBCASTS) 7/11/16

WEBCAST: Audits of 401(k) Plans

8

10:30 a - 6:30 p

7/11/16

WEBCAST: Leases: Mastering the New FASB Requirements

8

10:30 a - 6:30 p

7/12/16

WEBCAST: Advanced Defined Contribution Plans Audit Certificate Exam Review

8

10:30 a - 6:30 p

7/12/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors

8

9a-5p

7/13/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1p-5p

7/14/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1p-5p

7/15/16

WEBCAST: Accounting for Deferred Income Taxes

8

9a-5p

7/18/16

WEBCAST: Audit Workpapers: Documenting Field Work

4

10:30 a - 2:30 p

7/18/16

WEBCAST: Audit Workpapers: Reviewing Field Work

4

2:30 p - 6:30 p

7/18/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

10:30 a - 6:30 p

7/19/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1p-5p

7/19/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

9 a - 12:30 p

7/20/16

WEBCAST: Accounting and Auditing Update

4

1 p - 4:30 p

7/21/16

WEBCAST: GASB Statement No. 68 Audit and Accounting Workshop

4

1p-5p

7/21/16

WEBCAST: Preparation, Compilation, and Review Engagements Update

4

1p-5p

7/22/16

WEBCAST: Internal Controls and Risk Assessment: Key Factors in a Successful Audit

8

9a-5p

7/25/16

WEBCAST: Analyzing a Company?s Financial Statement

4

10:30 a - 2:30 p

7/26/16

WEBCAST: Audits of HUD-Assisted Projects

4

1p-5p

JULY 2016

$249 — $319 $249 — $319 $399 — $499 $249 — $319 $159 — $199 $159 — $199 $249 — $319 $159 — $199 $159 — $199 $249 — $319 $159 — $199 $159 — $199 $159 — $199 $159 — $199 $159 — $199 $249 — $319 $159 — $199 $159 — $199

11W093

Online Webcast, Internet

11W431

Online Webcast, Internet

11W564

Online Webcast, Internet

11W094

Online Webcast, Internet

11W095

Online Webcast, Internet

11W097

Online Webcast, Internet

11W098

Online Webcast, Internet

11W100

Online Webcast, Internet

11W101

Online Webcast, Internet

11W103

Online Webcast, Internet

11W105

Online Webcast, Internet

11W106

Online Webcast, Internet

11W107

Online Webcast, Internet

11W110

Online Webcast, Internet

11W111

Online Webcast, Internet

11W112

Online Webcast, Internet

11W113

Online Webcast, Internet

11W117

Online Webcast, Internet

53

Choose knowledge, strategy and results

• Arbitration and Mediation

• Derivative Actions

• Bank Financing and Loan Documents

• Employment Agreements

• Business Formation

• Independent Contractor Agreements

• Business Succession Planning

• Non-Compete and Executive Compensation

• Commercial Lease Negotiation

• Purchases, Sales and Mergers

• Contracts and Commercial Agreements

• Shareholder and Operating Agreements

Ronald E. Lyons, Esquire 1901 Research Blvd., Suite 500 • Rockville, MD 20850-3168 301-251-1180 p • 301-251-0447 f www.mcmillanmetro.com • rlyons@mcmillanmetro.com

Baltimore Community Foundation Announces 2016 Inductees to the

PROFESSIONAL ADVISOR RECOGNITION SOCIETY

Mr. Carpenter and Ms. Neuman join the ranks of professional advisors who demonstrate a commitment to the community by working to encourage charitable giving across Baltimore.

We thank them for their dedication to advancing philanthropy.

To learn more about the Professional Advisor Recognition Society visit www.bcf.org/pars.

Lee Carpenter

Ricka E. Neuman

Semmes, Bowen & Semmes

PBMares, LLP

PROFESSIONAL ADVISOR RECOGNITION SOCIETY Robert G. Blue

Martin P. Brunk

Jeffrey K. Gonya

Charles B. Jones

Mary Guidera Loker

H. James Smith III

J. Darby Bowman

Nancy Bryant

Chester H. Hobbs IV

Frederick S. Koontz

Lynn B. Sassin

Shale D. Stiller

Cristin C. Lambros

Natalie B. Sherman

Robert L. Waldman

Royston, Mueller, McLean & Reid LLP

RSM US LLP

Attorney and Counselor at Law

Bryant Financial Advisory

Eddie C. Brown

Sandra P. Gohn

Brown Capital Management Inc

DLA Piper

Venable LLP

Bodie, Dolina, Hobbs, Friddell & Grenzer PC

Thomas & Libowitz PA

Whiteford, Taylor & Preston LLP

Cristin C. Lambros LLC

Attorney at Law

Gordon Feinblatt LLC

Gallagher Evelius & Jones LLP

2 East Read Street , 9th Floor | Baltimore, MD 21202 | Tel 410.332.4171 | Web www.bcf.org

RBC Wealth Management DLA Piper

Venable LLP

DATE

COURSE TITLE

CPE

TIME

ACCOUNTING & AUDITING (WEBCASTS), CONTINUED 7/26/16

WEBCAST: Recognizing and Responding to Fraud Risk in Governmental and Not-For-Profit Organizations

4

1p-5p

7/28/16

WEBCAST: U.S. GAAP: Latest Developments for Business & Industry

4

1p-5p

7/29/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

9a-5p

7/29/16

WEBCAST: Statement of Cash Flows: Preparation, Presentation, and Use

4

1p-5p

8/2/16

WEBCAST: Not-for-Profit Accounting and Auditing Update

4

1p-5p

8/2/16

WEBCAST: Yellow Book Financial Audits

4

9a-1p

8/3/16

WEBCAST: GASB Statement No. 68 Audit and Accounting Workshop

4

1p-5p

8/8/16

WEBCAST: Construction Contractors: Accounting, Auditing, and Tax

8

10:30 a - 6:30 p

8/9/16

WEBCAST: Audits of 401(k) Plans

8

9a-5p

8/9/16

WEBCAST: Revenue Recognition: Mastering the New FASB Requirements

8

9a-5p

8/10/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1p-5p

8/11/16

WEBCAST: Statement of Cash Flows: Preparation, Presentation, and Use

4

1p-5p

8/12/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors

8

9a-5p

8/15/16

WEBCAST: Accounting for Deferred Income Taxes

8

10:30 a - 6:30 p

8/15/16

WEBCAST: Accounting for Deferred Income Taxes

8

10:30 a - 6:30 p

8/15/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

10:30 a - 6:30 p

8/16/16

SIMULCAST: Revenue Recognition: Mastering the New FASB Requirements

8

8 a - 3:30 p

8/16/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

9a-5p

8/17/16

WEBCAST: Preparation, Compilation, and Review Engagements Update

4

1p-5p

8/18/16

WEBCAST: Accounting and Auditing Update

4

1 p - 4:30 p

8/19/16

WEBCAST: Audit Workpapers: Documenting Field Work

4

9a-1p

8/19/16

WEBCAST: Audit Workpapers: Reviewing Field Work

4

1p-5p

8/22/16

WEBCAST: Identity Theft: Preventing, Detecting, and Investigating

8

10:30 a - 6:30 p

8/24/16

WEBCAST: Analyzing a Company?s Financial Statement

4

1p-5p

JULY 2016

MEMBER

EVENT ID

LOCATION

NON-MEM

$159 — $199 $159 — $199 $249 — $319 $159 — $199 $159 — $199 $159 — $199 $159 — $199 $249 — $319 $249 — $319 $249 — $319 $159 — $199 $159 — $199 $249 — $319 $249 — $319 $249 — $319 $249 — $319 $285 — $385 $249 — $319 $159 — $199 $159 — $199 $159 — $199 $159 — $199 $249 — $319 $159 — $199

11W119

Online Webcast, Internet

11W123

Online Webcast, Internet

11W124

Online Webcast, Internet

11W125

Online Webcast, Internet

11W127

Online Webcast, Internet

11W128

Online Webcast, Internet

11W129

Online Webcast, Internet

11W131

Online Webcast, Internet

11W132

Online Webcast, Internet

11W133

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11W134

Online Webcast, Internet

11W136

Online Webcast, Internet

11W138

Online Webcast, Internet

11W420

Online Webcast, Internet

11W465

Online Webcast, Internet

11W130

Online Webcast, Internet

11WL03

LIVE- ONLINE WEBCAST, INTERNET

11W140

Online Webcast, Internet

11W141

Online Webcast, Internet

11W143

Online Webcast, Internet

11W145

Online Webcast, Internet

11W146

Online Webcast, Internet

11W151

Online Webcast, Internet

11W152

Online Webcast, Internet

55

DATE

COURSE TITLE

CPE

TIME

ACCOUNTING & AUDITING (WEBCASTS), CONTINUED 8/25/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1p-5p

8/25/16

WEBCAST: U.S. GAAP: Latest Developments for Business & Industry

4

1p-5p

8/26/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1p-5p

8/26/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

9 a - 12:30 p

8/29/16

WEBCAST: Audits of HUD-Assisted Projects

4

8/29/16

WEBCAST: Recognizing and Responding to Fraud Risk in Governmental and Not-For-Profit Organizations

8/30/16

MEMBER

EVENT ID

LOCATION

NON-MEM

$159 — $199 $159 — $199 $159 — $199

11W155

Online Webcast, Internet

11W156

Online Webcast, Internet

11W157

Online Webcast, Internet

$159 — $199

11W158

Online Webcast, Internet

2:30 p - 6:30 p

$159 — $199

11W159

Online Webcast, Internet

4

10:30 a - 2:30 p

$159 — $199

11W162

Online Webcast, Internet

WEBCAST: Internal Controls and Risk Assessment: Key Factors in a Successful Audit

8

9a-5p

11W164

Online Webcast, Internet

9/1/16

WEBCAST: Statement of Cash Flows: Preparation, Presentation, and Use

4

1p-5p

11W168

Online Webcast, Internet

9/2/16

WEBCAST: Audit Workpapers: Documenting Field Work

4

9a-1p

11W169

Online Webcast, Internet

9/2/16

WEBCAST: Audit Workpapers: Reviewing Field Work

4

1p-5p

11W170

Online Webcast, Internet

9/2/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

9a-5p

11W171

Online Webcast, Internet

9/6/16

WEBCAST: Not-for-Profit Accounting and Auditing Update

4

1p-5p

11W172

Online Webcast, Internet

9/6/16

WEBCAST: Yellow Book Financial Audits

4

9a-1p

11W173

Online Webcast, Internet

9/7/16

WEBCAST: Fraud: Recent Findings, Red Flags and Corruption Schemes

4

1p-5p

11W174

Online Webcast, Internet

9/8/16

WEBCAST: The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

4

1p-5p

11W175

Online Webcast, Internet

9/9/16

WEBCAST: Audits of 401(k) Plans

8

9a-5p

11W176

Online Webcast, Internet

9/12/16

WEBCAST: U.S. GAAP: Latest Developments for Business & Industry

4

10:30 a - 2:30 p

11W178

Online Webcast, Internet

9/13/16

WEBCAST: Accounting for Deferred Income Taxes

8

9a-5p

11W179

Online Webcast, Internet

9/13/16

WEBCAST: Applying the Uniform Guidance for Federal Awards in Your Single Audits

8

9a-5p

11W180

Online Webcast, Internet

9/14/16

WEBCAST: Accounting and Auditing Update

4

1 p - 4:30 p

11W182

Online Webcast, Internet

9/15/16

WEBCAST: Preparation, Compilation, and Review Engagements Update

4

1p-5p

11W184

Online Webcast, Internet

9/16/16

SIMULCAST: Annual Update for Preparation, Compilation, and Review Engagements

8

8 a - 3:30 p

11WL04

LIVE- ONLINE WEBCAST, INTERNET

9/16/16

WEBCAST: Construction Contractors: Accounting, Auditing, and Tax

8

9a-5p

11W185

Online Webcast, Internet

9/16/16

WEBCAST: Fraud and Cash Receipts: Common Frauds and Internal Controls

4

1p-5p

11W186

Online Webcast, Internet

56

$249 — $319 $159 — $199 $159 — $199 $159 — $199 $249 — $319 $159 — $199 $159 — $199 $159 — $199 $159 — $199 $249 — $319 $159 — $199 $249 — $319 $249 — $319 $159 — $199 $159 — $199 $285 — $385 $249 — $319 $159 — $199

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

EVENT ID

LOCATION

NON-MEM

TRUSTING YOUR SKILL. TRUSTING YOU. The Practitioners Conference is designed to help CPAs maintain their status as trusted advisors by equipping them to serve their clients better. The conference features topics including technology, overviews of financial products, healthcare updates, and more.

October 26

Martin’s West • Baltimore

macpa.org/Practitioners

STRATEGIC LEARNING POWERED BY

JULY 2016

57

DATE

COURSE TITLE

CPE

TIME

ACCOUNTING & AUDITING (WEBCASTS), CONTINUED 9/16/16

WEBCAST: Purchasing, Inventory, and Cash Disbursements: Common Frauds and Internal Controls

4

9 a - 12:30 p

9/19/16

SIMULCAST: 2016 GOVERNMENT CONTRACTORS’ CONFERENCE

8

8 a - 4:30 p

9/20/16

WEBCAST: Identity Theft: Preventing, Detecting, and Investigating

8

9a-5p

9/21/16

WEBCAST: Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

4

1p-5p

9/22/16

WEBCAST: Analyzing a Company?s Financial Statement

4

1p-5p

9/23/16

WEBCAST: Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors

8

9a-5p

9/26/16

WEBCAST: Internal Controls and Risk Assessment: Key Factors in a Successful Audit

8

10:30 a - 6:30 p

9/29/16

WEBCAST: GASB Statement No. 68 Audit and Accounting Workshop

4

1p-5p

9/30/16

WEBCAST: Audits of HUD-Assisted Projects

4

9a-1p

9/30/16

WEBCAST: Recognizing and Responding to Fraud Risk in Governmental and Not-For-Profit Organizations

4

1p-5p

MEMBER

EVENT ID

LOCATION

NON-MEM

$159 — $199 $255 — $355 $249 — $319 $159 — $199 $159 — $199 $249 — $319 $249 — $319 $159 — $199 $159 — $199 $159 — $199

11W187

Online Webcast, Internet

11WC01

LIVE- ONLINE WEBCAST, INTERNET

11W192

Online Webcast, Internet

11W193

Online Webcast, Internet

11W194

Online Webcast, Internet

11W197

Online Webcast, Internet

11W198

Online Webcast, Internet

11W203

Online Webcast, Internet

11W204

Online Webcast, Internet

11W206

Online Webcast, Internet

11W431

Online Webcast, Internet

17W258

Online Webcast, Internet

11W436

Online Webcast, Internet

11W102

Online Webcast, Internet

11W103

Online Webcast, Internet

17W001

Online Webcast, Internet

11W104

Online Webcast, Internet

11W107

Online Webcast, Internet

11W113

Online Webcast, Internet

11W447

Online Webcast, Internet

11W451

Online Webcast, Internet

11W125

Online Webcast, Internet

BU SI N ESS & I ND US T RY ( WE B C A S TS ) 7/11/16

WEBCAST: Leases: Mastering the New FASB Requirements

8

10:30 a - 6:30 p

7/12/16

WEBCAST: Adobe Acrobat Best Practices

2

10 a - 12 p

7/14/16

WEBCAST: AICPA Code: Ethics in Practice

2

10:30 a - 12:30 p

7/18/16

WEBCAST: Controller?s Update: Today?s Latest Trends

4

10:30 a - 2:30 p

7/18/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

10:30 a - 6:30 p

7/19/16

WEBCAST: Ethics for the Industry Accountant- Frank Ryan, CPA

4

10 a - 2 p

7/19/16

WEBCAST: Form 990: Mastering Its Unique Characteristics

8

9a-5p

7/20/16

WEBCAST: Accounting and Auditing Update

4

1 p - 4:30 p

7/25/16

WEBCAST: Analyzing a Company?s Financial Statement

4

10:30 a - 2:30 p

7/26/16

WEBCAST: Form 990: Exploring the Form’s Complex Schedules

8

9a-5p

7/29/16

WEBCAST: Intermediate Individual Taxation

8

9a-5p

7/29/16

WEBCAST: Statement of Cash Flows: Preparation, Presentation, and Use

4

1p-5p

58

$249 — $319 $75 — $90 $99 — $129 $159 — $199 $249 — $319 $110 — $140 $249 — $319 $159 — $199 $159 — $199 $249 — $319 $249 — $319 $159 — $199

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

EVENT ID

LOCATION

NON-MEM

M ast e r in g c om p l e x ta x l aw fo r yo u r c l ie n ts 2 0 16

A dva n c e d T a x I n st i t u t e N ov e m b e r 1 4- 1 7

TO PIC S BY DAY

Complex tax laws change constantly, and the tax strategy CPAs give their clients must change with it. The Advanced Tax Institute is for high-performing lawyers and CPAs who want to bring the best advice to their clients and their firms. ATI offers in-depth updates on new tax laws and regulations in a multitude of specific focus areas.

DAY 1: Current Tax Issues & Business Tax Update- New Legislation, Cases, Regs, Rulings, Procedures, Notices & Announcements DAY 2: Estate Planning Issues DAY 3: State & Local Tax Issues DAY 4: Real Estate and Partnerships

m ac pa .o rg / at i MARTIN’S WEST • Baltimore STRATEGIC LEARNING POWERED BY

JULY 2016

59

DATE

COURSE TITLE

CPE

TIME TIME

BUSINESS & INDUSTRY (WEBCASTS), CONTINUED 8/2/16

WEBCAST: Form 990: Mastering Its Unique Characteristics

8

9a-5p

8/4/16

WEBCAST: Capitalized Costs and Depreciation

4

1p-5p

8/5/16

WEBCAST: Intermediate Individual Taxation

8

9a-5p

8/9/16

WEBCAST: Excel Power User - Automating with Macros (Part 1)

2

8 a - 10 a

8/9/16

WEBCAST: Revenue Recognition: Mastering the New FASB Requirements

8

9a-5p

8/9/16

WEBCAST: The Business Case for Social Media(FREE FOR MEMBERS)

1

10 a - 11 a

8/11/16

WEBCAST: Statement of Cash Flows: Preparation, Presentation, and Use

4

1p-5p

8/12/16

WEBCAST: Controller?s Update: Today?s Latest Trends

4

9a-1p

8/15/16

SIMULCAST: Employment Law Update: Key Risks and Recent Trends

8

8 a - 3:30 p

8/16/16

SIMULCAST: Revenue Recognition: Mastering the New FASB Requirements

8

8 a - 3:30 p

8/16/16

WEBCAST: Form 990: Exploring the Form’s Complex Schedules

8

9a-5p

8/16/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

9a-5p

8/18/16

WEBCAST: Accounting and Auditing Update

4

1 p - 4:30 p

8/22/16

WEBCAST: Identity Theft: Preventing, Detecting, and Investigating

8

10:30 a - 6:30 p

8/24/16

WEBCAST: Analyzing a Company?s Financial Statement

4

1p-5p

8/24/16

WEBCAST: Ethics, Critical Thinking and Fraud

4

10 a - 2 p

8/24/16

WEBCAST: The Eight Hour MBA

8

9a-5a

9/1/16

WEBCAST: Statement of Cash Flows: Preparation, Presentation, and Use

4

1p-5p

9/2/16

WEBCAST: Not-for-Profit Accounting & Reporting: From Start to Finish

8

9a-5p

9/6/16

WEBCAST: Microsoft Outlook and Word 2010: Productivity Tips and Tricks

2

3p-5p

9/8/16

WEBCAST: Ethics for the Industry Accountant- Frank Ryan, CPA

4

1p-5p

9/12/16

WEBCAST: Form 990: Mastering Its Unique Characteristics

8

10:30 a - 6:30 p

9/14/16

WEBCAST: Accounting and Auditing Update

4

1 p - 4:30 p

9/14/16

WEBCAST: AICPA Code: Ethics in Practice

2

1p-3p

9/19/16

SIMULCAST: 2016 GOVERNMENT CONTRACTORS’ CONFERENCE

8

8 a - 4:30 p

60

MEMBER MEMBER NON-MEM EVENT ID EVENT ID LOCATION LOCATION NON-MEM

$249 — $319 $159 — $199 $249 — $319 $75 — $90 $249 — $319 $0 — $39 $159 — $199 $159 — $199 $285 — $385 $285 — $385 $249 — $319 $249 — $319 $159 — $199 $249 — $319 $159 — $199 $110 — $140 $245 — $345 $159 — $199 $249 — $319 $75 — $90 $110 — $140 $249 — $319 $159 — $199 $99 — $129 $255 — $355

11W126

Online Webcast, Internet

11W454

Online Webcast, Internet

11W456

Online Webcast, Internet

17W259

Online Webcast, Internet

11W133

Online Webcast, Internet

17W012

Online Webcast, Internet

11W136

Online Webcast, Internet

11W137

Online Webcast, Internet

11WL02

LIVE- ONLINE WEBCAST, INTERNET

11WL03

LIVE- ONLINE WEBCAST, INTERNET

11W466

Online Webcast, Internet

11W140

Online Webcast, Internet

11W143

Online Webcast, Internet

11W151

Online Webcast, Internet

11W152

Online Webcast, Internet

17W005

Online Webcast, Internet

17W008

Online Webcast, Internet

11W168

Online Webcast, Internet

11W171

Online Webcast, Internet

17W261

Online Webcast, Internet

17W009

Online Webcast, Internet

11W177

Online Webcast, Internet

11W182

Online Webcast, Internet

11W480

Online Webcast, Internet

11WC01

LIVE- ONLINE WEBCAST, INTERNET

STATEMENT

SECU is right for your Small Business.

We have the expertise and resources that are right for you.

Your SECU Business Relationship team is flexible and responsive to your needs. We will work with you to improve your cash flow and grow your business! Not only do we offer very competitive rates and terms; we are local—so we understand the Maryland economy, and how it affects your industry, and your bottom line.

We are committed to becoming your trusted banking partner and take great personal interest in your success. Because when you do well, we do well.

Take your business banking in a different direction with SECU. Charlene Kurland

Business Relationship Banker

Click secumd.org/business Email SmallBizIsBig@secumd.com Call 443-517-5045 Business Checking, Savings, and Money Market Accounts • CDs • Online Banking and Remote Deposit Business Lines of Credit • Commercial Mortgages • SBA and Term Loans • Employee Programs and Services Federally insured by NCUA

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吀伀 䔀一吀䔀刀㨀 倀甀琀 礀漀甀爀

䈀唀匀䤀一䔀匀匀 䌀䄀刀䐀 椀渀 琀栀攀

䨀䄀刀 愀琀 琀栀攀 䴀䤀䌀刀伀匀伀䘀吀 伀䘀䘀䤀䌀䔀 ㌀㘀㔀

刀䔀䜀䤀匀吀刀 刀䔀䜀䤀匀吀刀䄀吀䤀伀一 吀䄀䈀䰀䔀⸀

䄀 挀漀瀀礀 漀昀 䴀椀挀爀漀猀漀昀琀 伀昀昀椀挀攀 ㌀㘀㔀 眀椀氀氀 戀攀 爀愀昀昀氀攀搀 漀昀昀 愀琀 猀攀瘀攀爀愀氀 䴀䄀䌀倀䄀 昀攀愀琀甀爀攀搀 攀瘀攀渀琀猀⸀ 䈀刀伀唀䜀䠀吀 吀伀 夀伀唀 䈀夀

DATE

COURSE TITLE

CPE

TIME

BUSINESS & INDUSTRY (WEBCASTS), CONTINUED 9/20/16

WEBCAST: Controller?s Update: Today?s Latest Trends

4

1p-5p

9/20/16

WEBCAST: Identity Theft: Preventing, Detecting, and Investigating

8

9a-5p

9/22/16

SIMULCAST: 47th ANNUAL CHESAPEAKE TAX CONFERENCE

16

8a-5p

9/22/16

WEBCAST: Analyzing a Company?s Financial Statement

4

1p-5p

9/22/16

WEBCAST: Ethics: It’s Not Just What You Do, But How You Do It!

4

10 a - 2 p

9/27/16

WEBCAST: Form 990: Exploring the Form’s Complex Schedules

8

9a-5p

9/27/16

WEBCAST: From Technical Expert to Financial Leader: How to Make a Critical Leap in Your Career Development

2

12 p - 2 p

MEMBER

NON-MEM EVENT ID

LOCATION

NON-MEM

$159 — $199 $249 — $319 $285 — $385 $159 — $199 $110 — $140 $249 — $319 $75 — $90

11W191

Online Webcast, Internet

11W192

Online Webcast, Internet

21WC02

LIVE- ONLINE WEBCAST, INTERNET

11W194

Online Webcast, Internet

17W103

Online Webcast, Internet

11W488

Online Webcast, Internet

17W101

Online Webcast, Internet

11W096

Online Webcast, Internet

11W142

Online Webcast, Internet

11W195

Online Webcast, Internet

11W093

Online Webcast, Internet

11W132

Online Webcast, Internet

11W436

Online Webcast, Internet

17W001

Online Webcast, Internet

17W005

Online Webcast, Internet

17W009

Online Webcast, Internet

11W480

Online Webcast, Internet

17W103

Online Webcast, Internet

11WL05

LIVE- ONLINE WEBCAST, INTERNET

BVLS ( W EB C A S T S ) 7/14/16

WEBCAST: The CPA’s Role in Buying or Selling a Business

4

1p-5p

8/17/16

WEBCAST: The CPA’s Role in Buying or Selling a Business

4

1p-5p

9/22/16

WEBCAST: The CPA?s Role in Buying or Selling a Business

4

1p-5p

$159 — $199 $159 — $199 $159 — $199

EMPLO YE E B E N E F I T S ( WE B C ASTS ) 7/11/16

WEBCAST: Audits of 401(k) Plans

8

10:30 a - 6:30 p

8/9/16

WEBCAST: Audits of 401(k) Plans

8

9a-5p

$249 — $319 $249 — $319

ETH I C S ( W EB CAS T S ) 7/14/16

WEBCAST: AICPA Code: Ethics in Practice

2

10:30 a - 12:30 p

7/19/16

WEBCAST: Ethics for the Industry Accountant- Frank Ryan, CPA

4

10 a - 2 p

8/24/16

WEBCAST: Ethics, Critical Thinking and Fraud

4

10 a - 2 p

9/8/16

WEBCAST: Ethics for the Industry Accountant- Frank Ryan, CPA

4

1p-5p

9/14/16

WEBCAST: AICPA Code: Ethics in Practice

2

1p-3p

9/22/16

WEBCAST: Ethics: It’s Not Just What You Do, But How You Do It!

4

10 a - 2 p

$99 — $129 $110 — $140 $110 — $140 $110 — $140 $99 — $129 $110 — $140

F INAN C I A L P L AN N I N G ( W E B C A S TS ) 9/19/16

62

SIMULCAST: A Practical Guide to Trusts

8

8 a - 3:30 p

$285 — $385

STATEMENT

DATE

COURSE TITLE

CPE

TIME TIME

MEMBER MEMBER NON-MEM EVENT ID EVENT ID LOCATION LOCATION NON-MEM

GOVERNMENT/NOT-FOR-PROFIT (WEBCASTS)

G OV E R N M EN T / N O T- F O R - P R O F IT ( WEBCA S TS ) 8/2/16

WEBCAST: Yellow Book Financial Audits

4

9a-1p

8/15/16

SIMULCAST: Employment Law Update: Key Risks and Recent Trends

8

8 a - 3:30 p

9/6/16

WEBCAST: Yellow Book Financial Audits

4

9a-1p

$159 — $199 $285 — $385 $159 — $199

11W128

Online Webcast, Internet

11WL02

LIVE- ONLINE WEBCAST, INTERNET

11W173

Online Webcast, Internet

11WC01

LIVE- ONLINE WEBCAST, INTERNET

17W000

Online Webcast, Internet

11W115

Online Webcast, Internet

17W008

Online Webcast, Internet

11W167

Online Webcast, Internet

11W188

Online Webcast, Internet

17W102

Online Webcast, Internet

$75 — $90

17W101

Online Webcast, Internet

$75 — $90

17W259

Online Webcast, Internet

11W433

Online Webcast, Internet

11W432

Online Webcast, Internet

11W435

Online Webcast, Internet

11W096

Online Webcast, Internet

GOV ERN M E N T C O N T R AC T I N G ( WEB CA S TS ) 9/19/16

SIMULCAST: 2016 GOVERNMENT CONTRACTORS’ CONFERENCE

8

8 a - 4:30 p

$255 — $355

MA N A G EM E N T & L E AD E R S H I P ( WEB CA S TS ) 7/12/16

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

4

11 a - 3 p

7/25/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

2:30 p - 6:30 p

8/24/16

WEBCAST: The Eight Hour MBA

8

9a-5a

8/31/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

1p-5p

9/19/16

WEBCAST: Risk, Cost, and Cash Management for Controllers and Financial Managers

4

10:30 a - 2:30 p

9/27/16

WEBCAST: Personality Styles in the Workplace

3

12 p - 3 p

9/27/16

WEBCAST: From Technical Expert to Financial Leader: How to Make a Critical Leap in Your Career Development

2

12 p - 2 p

$110 — $140 $159 — $199 $245 — $345 $159 — $199 $159 — $199 $95 — $120

S P EC I A L I ZED K N O WL E D G E ( WEBCA S TS ) 8/9/16

WEBCAST: Excel Power User - Automating with Macros (Part 1)

2

8 a - 10 a

TAX (W E B C A S T S ) 7/12/16

WEBCAST: IRS Audits

4

1p-5p

7/12/16

WEBCAST: Tax Planning Strategies for Small Businesses: Corporations, Partnerships, & LLCs

4

9a-1p

7/13/16

WEBCAST: Tax Fundamentals of LLCs and Partnerships

4

1p-5p

7/14/16

WEBCAST: The CPA’s Role in Buying or Selling a Business

4

1p-5p

JULY 2016

$159 — $199 $159 — $199 $159 — $199 $159 — $199

63

DATE

COURSE TITLE

CPE

TIME

MEMBER

EVENT ID

LOCATION

Four, 4-hour CPE sessions.

Choose from 8 course options to maximize your CPE this fall.

NON-MEM

FOUR FOR FALL Nov 17-18

Four For Fall is a two-day CPE event that covers a wide range of topics. Each day offers two, fourhour CPE sessions. Each session offers a vairety of options. A total of 16 hours of CPE are available.

2016 COURSES: • Ethics – Ray Thompson • GASB Statement No. 68 Audit and Accounting Workshop • Not-for-Profit Accounting and Auditing: Practical Cases for CPAs • SSARS 21 – Ray Thompson

• Annual Update for Governments and Not-for-Profits • Leases – Ray Thompson • Accounting Standards Review for Controllers and Finance Professionals • Frequent Frauds Found in Governments

STRATEGIC LEARNING POWERED BY

macpa.org/FourForFall

64

STATEMENT

DATE

COURSE TITLE

CPE

TIME

EVENT ID

LOCATION

NON-MEM

TAX (WEBCASTS), CONTINUED 7/15/16

WEBCAST: Best Practices for Payroll Taxes and 1099 Issues

8

9a-5p

7/19/16

WEBCAST: Advanced Tax Planning S Corporations

8

9a-5p

7/19/16

WEBCAST: Form 990: Mastering Its Unique Characteristics

8

9a-5p

7/20/16

WEBCAST: Taxation of Property Transactions

4

1p-5p

7/22/16

WEBCAST: Individual Tax Fundamentals

8

9a-5p

7/25/16

WEBCAST: Affordable Care Act: Tax and Insurance Ramifications

4

2:30 p - 6:30 p

7/25/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

10:30 a - 2:30 p

7/26/16

WEBCAST: Basis/Distributions for Pass-Through Entities: Simplifying the Complexities

8

9a-5p

7/26/16

WEBCAST: Form 990: Exploring the Form’s Complex Schedules

8

9a-5p

7/28/16

WEBCAST: Smart Tax Planning Strategies for Individuals

4

1p-5p

7/28/16

WEBCAST: Workpapers Documentation

2

1p-3p

7/29/16

WEBCAST: Intermediate Individual Taxation

8

9a-5p

8/1/16

WEBCAST: Individual Tax Fundamentals

8

10:30 a - 6:30 p

8/2/16

WEBCAST: Form 990: Mastering Its Unique Characteristics

8

9a-5p

8/3/16

WEBCAST: Tax Accounting for Inventories

2

1p-3p

8/4/16

WEBCAST: Capitalized Costs and Depreciation

4

1p-5p

8/5/16

WEBCAST: Intermediate Individual Taxation

8

9a-5p

8/8/16

WEBCAST: Construction Contractors: Accounting, Auditing, and Tax

8

10:30 a - 6:30 p

8/8/16

WEBCAST: Taxation of Property Transactions

4

10:30 a - 2:30 p

8/9/16

WEBCAST: Taxation of Corporations

4

1p-5p

8/10/16

WEBCAST: Smart Tax Planning Strategies for Individuals

4

1p-5p

8/10/16

WEBCAST: Workpapers Documentation

2

1p-3p

8/12/16

WEBCAST: Tax Fundamentals of LLCs and Partnerships

4

9a-1p

8/15/16

WEBCAST: S Corporation Fundamentals

8

10:30 a - 6:30 p

8/16/16

WEBCAST: Best Practices for Payroll Taxes and 1099 Issues

8

9a-5p

JULY 2016

MEMBER

$249 — $319 $249 — $319 $249 — $319 $159 — $199 $249 — $319 $159 — $199 $159 — $199 $249 — $319 $249 — $319 $159 — $199 $99 — $129 $249 — $319 $249 — $319 $249 — $319 $99 — $129 $159 — $199 $249 — $319 $249 — $319 $159 — $199 $159 — $199 $159 — $199 $99 — $129 $159 — $199 $249 — $319 $249 — $319

11W099

Online Webcast, Internet

11W439

Online Webcast, Internet

11W104

Online Webcast, Internet

11W440

Online Webcast, Internet

11W443

Online Webcast, Internet

11W114

Online Webcast, Internet

11W116

Online Webcast, Internet

11W118

Online Webcast, Internet

11W447

Online Webcast, Internet

11W448

Online Webcast, Internet

11W449

Online Webcast, Internet

11W451

Online Webcast, Internet

11W452

Online Webcast, Internet

11W126

Online Webcast, Internet

11W453

Online Webcast, Internet

11W454

Online Webcast, Internet

11W456

Online Webcast, Internet

11W131

Online Webcast, Internet

11W457

Online Webcast, Internet

11W458

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Online Webcast, Internet

65

DATE

COURSE TITLE

CPE

TIME

MEMBER

EVENT ID

LOCATION

NON-MEM

DON FARMER Tax Workshops THE MOST FUN YOU CAN HAVE AT A TAX SEMINAR Taxes are no laughing matter, until you attend a Don Farmer tax workshop. Using comedy and examples, these entertaining seminars review tax developments that affect tax return preparation and tax planning.

CORPORATE/BUSINESS INCOME TAX WORKSHOP Live Seminar - Martin’s West - Baltimore October 28 | 8:30 a.m.

MACPA.ORG/FARMERCORP INDIVIDUAL INCOME TAX WORKSHOP Live Seminar - Martin’s West - Baltimore November 10 & 11 | 8:30 a.m.

MACPA.ORG/FARMERINDIVIDUAL FEDERAL TAX UPDATE Live Seminar - Martin’s West - Baltimore December 2 | 8:30 a.m.

MACPA.ORG/FARMERFED

SIMULCASTS ARE ALSO AVAILABLE

STRATEGIC LEARNING POWERED BY

66

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

EVENT ID

LOCATION

NON-MEM

TAX (WEBCASTS), CONTINUED 8/16/16

WEBCAST: Form 990: Exploring the Form’s Complex Schedules

8

9a-5p

8/17/16

WEBCAST: The CPA’s Role in Buying or Selling a Business

4

1p-5p

8/18/16

WEBCAST: Affordable Care Act: Tax and Insurance Ramifications

4

1p-5p

8/19/16

WEBCAST: Advanced Tax Planning S Corporations

8

9a-5p

8/19/16

WEBCAST: Basis/Distributions for Pass-Through Entities: Simplifying the Complexities

8

9a-5p

8/19/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

1p-5p

8/26/16

WEBCAST: IRS Audits

4

9a-1p

8/26/16

WEBCAST: Tax Planning Strategies for Small Businesses: Corporations, Partnerships, & LLCs

4

1p-5p

9/12/16

WEBCAST: Form 990: Mastering Its Unique Characteristics

8

10:30 a - 6:30 p

9/13/16

WEBCAST: Social Security and Medicare: Maximizing Retirement Benefits

4

9a-1p

9/16/16

WEBCAST: Construction Contractors: Accounting, Auditing, and Tax

8

9a-5p

9/19/16

SIMULCAST: A Practical Guide to Trusts

8

8 a - 3:30 p

9/21/16

WEBCAST: Smart Tax Planning Strategies for Individuals

4

1p-5p

9/22/16

SIMULCAST: 47th ANNUAL CHESAPEAKE TAX CONFERENCE

16

8a-5p

9/22/16

WEBCAST: The CPA?s Role in Buying or Selling a Business

4

1p-5p

9/23/16

WEBCAST: Basis/Distributions for Pass-Through Entities: Simplifying the Complexities

8

9a-5p

9/27/16

WEBCAST: Form 990: Exploring the Form’s Complex Schedules

8

9a-5p

9/28/16

WEBCAST:Affordable Care Act: Tax and Insurance Ramifications

4

1p-5p

9/30/16

WEBCAST: Best Practices for Payroll Taxes and 1099 Issues

8

9a-5p

$249 — $319 $159 — $199 $159 — $199 $249 — $319 $249 — $319 $159 — $199 $159 — $199 $159 — $199 $249 — $319 $159 — $199 $249 — $319 $285 — $385 $159 — $199 $285 — $385 $159 — $199 $249 — $319 $249 — $319 $159 — $199 $249 — $319

11W466

Online Webcast, Internet

11W142

Online Webcast, Internet

11W144

Online Webcast, Internet

11W468

Online Webcast, Internet

11W147

Online Webcast, Internet

11W148

Online Webcast, Internet

11W473

Online Webcast, Internet

11W472

Online Webcast, Internet

11W177

Online Webcast, Internet

11W181

Online Webcast, Internet

11W185

Online Webcast, Internet

11WL05

LIVE- ONLINE WEBCAST, INTERNET

11W485

Online Webcast, Internet

21WC02

LIVE- ONLINE WEBCAST, INTERNET

11W195

Online Webcast, Internet

11W196

Online Webcast, Internet

11W488

Online Webcast, Internet

11W202

Online Webcast, Internet

11W205

Online Webcast, Internet

17W258

Online Webcast, Internet

17W261

Online Webcast, Internet

17W263

Online Webcast, Internet

17W264

Online Webcast, Internet

T E C HN OL OG Y ( WE B C AS T S ) 7/12/16

WEBCAST: Adobe Acrobat Best Practices

2

10 a - 12 p

9/6/16

WEBCAST: Microsoft Outlook and Word 2010: Productivity Tips and Tricks

2

3p-5p

10/3/16

WEBCAST: Adobe Acrobat Best Practices

2

10 a - 12 p

11/8/16

WEBCAST: Microsoft Excel: Data Analysis,New Table Features

2

8 a - 11 a

JULY 2016

$75 — $90 $75 — $90 $75 — $90 $75 — $90

67

DATE

COURSE TITLE

CPE

TIME

MEMBER

EVENT ID

LOCATION

NON-MEM

With Art Werner, J.D., MST

Win the tax season race.

1040 Fast Track is the ideal preparation for the upcoming tax season rush. This extensive interactive seminar covers changes in individual tax law. Attendees are provided with an 800+ page manual written by full-time practitioners and a two-hour IRS self-study course, as well as dozens of other resources for their best tax season yet.

Dec 19-20, 2016 Columbia | 8:00 a.m.

CPE: 16

Jan 5-6, 2017 Timonium | 8:00 a.m.

CPE: 16

macpa.org/1040FastTrack 68Simulcast available.

STRATEGIC LEARNING POWERED BY

STATEMENT

DATE

COURSE TITLE

CPE

TIME

MEMBER

EVENT ID

LOCATION

NON-MEM

JANUARY 26 2017

Promoting and protecting CPAs in Maryland BRING YOUR VOICE TO ANNAPOLIS ON JANUARY 26

Governor Calvert House | CPE: 2.0 | macpa.org/CPAday

Once a year, CPAs gather in Annapolis to make their professional interests known to Maryland legislators. The Maryland Association of CPAs engages in ongoing legislative and lobbying efforts, and CPA Day is the best time for CPAs to show their support and advocate for our profession. Two free hours of CPE are included for each participant.

JULY 2016

69

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

Learn the skill of anticipation.

Watch the Product Demo at

BLIonline.org/AO

“Identifying future trends and seizing the opportunities in the present is the key to our success – and it’s a skill we can learn.”

DANIEL BURRUS