SCACPA's Guide for CPAs in Business and Industry

Guide For Members in Business and Industry

Navigating

SCACPA Benefits & Resources

South Carolina Association of Certified Public Accountants

South Carolina

CPA

Navigating SCACPA Benefits and Resources The South Carolina Association of Certified Public Accountants (SCACPA) is a professional association of CPAs working together to improve the profession and better serve the public interest. Founded in 1915, SCACPA has more than 3,800 members in eight chapters, with more than 35

www.SCACPA.org

percent of the membership working in business, industry, government, education and not-for-profit.

CONTACT US South Carolina Association of Certified Public Accountants

570 Chris Drive West Columbia, SC 29169 (803) 791-4181 • toll free in SC (888) 557-4814 fax (803) 791-4196 www.scacpa.org Erin P. Hardwick, Executive Director ehardwick@scacpa.org • ext. 104 Reva Brennan, MPA, CAE, Associate Director rbrennan@scacpa.org • ext. 103 Glenna Minor, Peer Review and Member Services Manager gminor@scacpa.org • ext. 107 Katherine Swartz, Membership and Chapter Relations Manager kswartz@scacpa.org • ext. 105 Allison Caldwell, Communications Manager acaldwell@scacpa.org • ext. 106 Cathy Mauldin, Education Manager cmauldin@scacpa.org • ext. 110

Table of Contents

5

Professional Education

10

Information and Resources

12 Government Relations

14

Career Center

15

Networking Opportunities

16

Things To Do

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Membership Application

“SCACPA provides opportunities to work and network with a group of highly skilled and competent professionals. It’s a very dynamic and challenging organization which values independence, creativity and an entrepreneurial spirit.”

- Cara T. Hamilton, CPA 2007- 2008 Piedmont Chapter of SCACPA Vice President Guardian Building Products, Greenville, SC SCACPA member since 1998

Navigating SCACPA Benefits and Resources This guide serves as your direct route to the resources and benefits you receive with your SCACPA membership. There are products, services and activities for every member type. Keep this book handy to explore SCACPA’s member benefits, resources and tools.

• Network through professional education opportunities and statewide events like the Industry Conference, Professional Issues Updates and Annual Summit.

• Serve as a Key Person Contact and help SCACPA with grassroots lobbying efforts.

• Save money through member-only discounts.

• Get involved in your local chapter or one of 30 committees and task forces, and have your say in the direction of your association.

“CPAs employed in business, industry and not-for-profit organizations are an important asset to their employers and South Carolina’s economy. SCACPA is striving to meet or exceed their expectations by providing training, information and resources that will position them for continued success in their careers.”

- Erin P. Hardwick, Executive Director Serving SCACPA Members since 2005

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Professional Education SCACPA offers more than 125 seminars and conferences to satisfy the needs of our diverse membership.

From technical accounting and tax courses to personal development, members can find the courses they need to enhance their professional skills and maintain their licenses. Following is a schedule of 2008 CPE courses specifically designed for CPAs in business and industry.

Online Course Catalog: Find the courses you need by searching the online catalog. SCACPA offers 1,200 hours of training specifically geared toward business and industry professionals. A great selection of courses awaits you, with convenient locations throughout the state.

On-Site Training: Your company can also benefit from your SCACPA membership. SCACPA members have access to customized training programs that can be brought to your employees. Train your entire staff in a confidential, convenient setting that is costeffective.

CPE Catalog: New in 2008 is a quarterly CONTINUING PROFESSIONAL EDUCATION catalog $PVSTF 4DIFEVMF t "QSJM o +VOF designed to help you plan Your Path to Success. your CPE schedule.

South Carolina Association of Certified Public Accountants It will be mailed to all members and former CPE participants in April, July and October.

CPE Transcript Service: To help you manage your CPA license renewal, SCACPA sends you a complimentary transcript each December listing all the courses and credits you have earned during the year.

Conferences and Clusters: Mark your calendar to attend SCACPA’s industry-specific conferences and vacation clusters. Topics include Industry, Litigation, Technology, Business Advisors, Not-for-Profit, Government, Controller and more!

Discounts: Members receive valuable savings when registering for courses and conferences. Get 40 hours of CPE for less than $24 per hour with the SCACPA Choice Card.

Discounts are also available for companies registering five or more employees.

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Information and Resources SCACPA monitors and reports on the needs and issues of all CPAs. Check out these resources for information about member benefits, programs and services and professional education.

Current Assets: Our monthly e-newsletter keeps your fingers on the pulse of the financial community in South Carolina, and includes a regular column specifically for members in business and industry. A must-read for busy CPAs, this members-only newsletter also features Association news, articles of interest and updates.

SCACPA Web site: Our Web site is your source for upto-date information about the profession, member benefits, professional education, government relations and more! Be sure to visit often, as the site is updated daily.

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Tuesday Teaser: Our weekly CPE e-bulletin features upcoming seminars and conferences based on your areas of interest. Try answering the Teaser to win a coupon for future CPE registrations!

The CPA Report: SCACPA’s bi-monthly magazine is one of our most valued member benefits. Content is South Carolina financial professional-specific, guided by a member editorial board. Members have the exclusive opportunity to submit articles to this widely-read journal.

CPA Report

South Carolina

CPA Report South Carolina

South Carolina Association of Certified Public Accountants Magazine t March/April 2008

South Carolina Association of Certified Public Accountants Magazine t January/February 2008

GOING UP: Women in Accounting

Year In Review

Meet SCACPA’s New Lobbyists

PIU Survey Results

Special Student Section

IRS/DOR Meeting Update South Carolina Association of CPAs

570 Chris Drive, West Columbia, SC 29169

South Carolina Association of CPAs

PRSRT STD US POSTAGE PAID PERMIT NO. 1146 Columbia, SC

www.scacpa.org

570 Chris Drive, West Columbia, SC 29169

SOUTH CAROLINA CPA REPORT T JANUARY/FEBRUARY2008

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PRSRT STD US POSTAGE PAID PERMIT NO. 1146 Columbia, SC

www.scacpa.org

South Carolina CPA Report  March/April 2008

Legislative Updates: We communicate essential SCACPA e-Alert: Mandatory e-Filing Update Page 1 of 1 legislative news to members electronically though special legislative updates and announcements.

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Discounts: Members have access to dozens of discounts through the Member Exclusives page on the SCACPA Web site.

SCACPA

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Welcome Katherine Swartz

Important Update: e-Filing Penalty Deadline Extended!

March 3, 2008

Issue at Hand: Mandatory e-Filing Program for 2007 Returns SCACPA is pleased to report that our efforts to provide tax practitioners with relief from mandatory e- Filing this tax season have been successful!

On Thursday, February 28, 2008, the South Carolina General Assembly adopted S.1127, extending the Department of Revenue's mandatory e- Filing penalty deadline to December 31, 2008. CLICK HERE to read the entire bill.

Special thanks to Sen. Phil Leventis, Jason Sweatt, chair of the State and Local Tax Committee, and staff of the DOR who worked in concert with SCACPA to quickly resolve this issue.

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The South Carolina Association of CPAs and CCH have joined forces to offer you an incredible new member benefit that provides a 30% discount on any of the more than 175 CCH tax and accounting books including U.S. Master Tax Guide, U.S. Master Depreciation Guide, Internal Revenue Code Income Tax Regulations and the State Tax Handbook! To take advantage of this tremendous member discount, please visit the CCH Web site and use the SCACPA discount code provided.

2/12/2008: NEW: CCH Tax Briefing - Economic Stimulus Package NEW: Helpful summary of recent tax law changes by Congress, published by CCH NEW Book! 409a Sourcebook, with the SCACPA member 30% discount!

Insurance Programs CAMICO Did you know that your engagement letter might give your client a way to sue you? Or that a lack of client screening is often the first step to a claim against you?

The South Carolina Association of CPAs believes that the actions you take during client engagements are as important as the insurance you purchase to protect yourself in the event of a claim. That’s why we partner with CAMICO, to bring you comprehensive client screening resources that are backed by their two decades of experience and exclusive focus on CPAs: z

Count on SCACPA to keep you informed and up to date on important issues and to advocate on your behalf. We are proud to serve and appreciate your continued support.

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Sample engagement letter language to protect your interests Review of your engagement letters to help spot potential exposure A client engagement checklist to assist you in diligent client screening Assistance with background checks

These are just a few of the many exclusive member benefits that make CAMICO’s 7000 policyholder firms better protected against a claim.

And when things go wrong, CAMICO provides the support you need. Their experience shows that early intervention allows for “repair” work which can minimize potential damages before they escalate. That’s why their program offers incentives for early reporting that could have significant savings for your firm.

South Carolina Association of Certified Public Accountants E-mail: ehardwick@scacpa.org Telephone: 888-557-4814 (toll-free in SC) Web site: http://www.scacpa.org

Safeguard your reputation and financial security by choosing CAMICO. For more information, email inquiry@camico.com, visit www.camico.com or call 1.800.652.1772.

Medical and Dental Insurance for SCACPA members, administered by Southeastern Insurance Consultants

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Government Relations Are you ready to discover what’s going on in the state capitol? SCACPA’s Government Relations Team monitors how government plans will affect your business, and promotes the interests of CPAs before the 170 members of the South Carolina General Assembly, the many regulatory bodies and other organizations.

Key Person Contact: SCACPA is committed to impacting the legislative process in South Carolina. The Key Person Contact Program is one of the most effective ways you can contribute to the success of SCACPA’s governmental affairs efforts. As a key contact, you may be asked to contact a legislator to discuss issues important to our lobbying efforts, deliver contribution checks and attend legislative updates and training. If you have or would like to establish a relationship with a South

CPA-PAC: This member-managed, member-driven and member-focused political action committee is one of the leading business political action committees in South Carolina.

Contributions are used to help elect candidates who understand the importance of a sound South Carolina economy and the role CPAs play in fostering the state’s business climate.

Carolina state or federal legislator, we welcome your participation as a KPC.

“Serving as a member of the CPA-PAC committee has been an eye-opening experience.

At first I didn’t realize the importance of giving to the PAC, especially since I already pay my dues. But after being involved in the process, I now understand the need for voluntary PAC contributions. Without those funds, we do not have the ability to influence legislation. Through direct access to South Carolina legislators, the CPA-PAC assures that issues important to our profession are properly addressed and supported.”

- J. Patrick “Pat” McDermott, CPA 2007 SCACPA President The Beach Company, Charleston, SC SCACPA member since 1982 12

CPA Day at the State House: Our annual event gathers members in Columbia to meet and lobby their legislators, learn about the legislative process and receive an update on the legislative session. Your SCACPA membership gives you direct access to your legislator so your voice can be heard.

WEB SITES TO BOOKMARK South Carolina Association of Certified Public Accountants www.scacpa.org American Institute of Certified Public Accountants www.aicpa.org Financial Accounting Standards Board www.fasb.org Governmental Accounting Standards Board www.gasb.org

Internal Revenue Service www.irs.gov South Carolina Department of Revenue www.sctax.org South Carolina Board of Accountancy www.llr.state.sc.us Public Company Accounting Oversight Board www.pcaobus.org Securities and Exchange Commission www.sec.gov 13

Career Center Opportunities abound for SCACPA members at our online career center. Find a job, obtain career advice, or locate a CPA to fill your organization’s open positions.

CareerBank.com: SCACPA has partnered with the leading independent accounting, financial and banking career center on the Web to offer members access to a nationwide network of job and resume postings. Postings receive FREE cross-posts to more than 2,000 job boards.

Classifieds Advertisements: By listing an open position in SCACPA’s classified ads, you will have access to more than 3,200 experienced CPAs – a virtual goldmine for you and your employer!

Entry-level job opportunities: Submit your ad to Current Assets or the CPA Report to reach the most qualified candidates in the state.

Tax Season Help Program: Find your company the help it needs during busy times and search our listing of qualified and licensed CPAs.

Find a CPA Referral Program: SCACPA often receives daily requests from consumers looking to hire a CPA. Whether you moonlight or are considering public accounting employment opportunities, enrolling in this free service for members will provide the referrals you desire.

“SCACPA is a good contact tool as well as a great resource for gathering information. Together we can improve our association and the profession.

We can make a big difference.”

- Chander S. Sharma, CPA 2007 Industry Task Force Chairman Coveright Surfaces, Blythewood, SC SCACPA member since 2002 14

Networking Opportunities No matter your location, company size or scope, you’re not alone. SCACPA has many ways for members to swap stories, get advice and stay in touch with like-minded professionals.

Chapter Events: SCACPA’s eight chapters offer a variety of social and educational events including programs that apply to members in business and industry. Some of the social events offer discounts to members and their families. CPE program topics include: • Fraud Updates • Management Issues • Organizational Performance Excellence • Technology Updates • Cash Management • International Accounting Standards • Work/Life Balance • And much more!

Professional Education Seminars and Conferences: These are excellent venues to meet your colleagues. A list of attendees and their contact information is available upon request for each event.

Statewide Events: SCACPA’s Annual Summit, CPA Day at the State House, Professional Issues Updates and New CPA Oath Ceremonies are events designed and developed for members by members, targeting the current and future leaders of the profession and recognizing their professional contributions.

Members in Business and Industry Committee: CPAs in business and industry represent more than one-third of the profession in South Carolina. The Members in Business & Industry Committee is a key focal point for assuring the association remains relevant and continues to provide value to those outside of public practice. Committee members find great reward in being a voice for the highly diverse population of CPAs in business and industry. Some of the Committee activities include: • Planning and hosting the Industry Conference in October and industry clusters throughout the year.

• Serving as a resource for chapter boards when planning industry-oriented events and programs.

• Proving input to other association committees and task forces as to the needs of industry member.

• Contributing vital information and perspective to the CPE Committee to select relevant content for business and industry members.

• Recruiting nominees for leadership roles within the association.

If you’d like to contribute to the success of SCACPA’s industry-related programs and initiatives, join the committee in 2009!

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Things to Do Don’t just sit there! Get involved and enjoy the benefits of business and industry membership. Select from one of our many opportunities: Members in Business and Industry Committee: Join the committee to plan programs, hone your leadership skills and connect with your peers.

Conference Planning Committees: Take an active role in planning the agenda for SCACPA conferences. Identify and recruit speakers and provide the technical expertise for the conference content. Choose from Industry, Litigation, Technology and Technical Standards.

Speakers’ Bureau & CPA Ambassadors: Get the word out about CPAs. Volunteer to speak to students, community groups, or the media about careers in accounting or accounting-related topics.

Chapter Leadership: Your path to success can be paved by getting involved in your local SCACPA chapter. Involvement will accelerate your personal and professional development with fellow CPAs in your region.

Get Political: Represent the profession’s position to your federal or state legislators, and learn the realities and rewards of the political process by becoming a Key Person Contact or by making a donation to the CPA-PAC. Author Opportunities: Do you have the inside track on a hot issue? Demonstrate your expertise and help your colleagues with business issues by writing an article for one of SCACPA’s print or electronic publications.

“SCACPA offers great opportunities to network with accounting professionals locally and statewide. Through various events such as CPA Day at the Statehouse, the Annual Meeting and Student Night, it’s a place to build relationships with local officials, colleagues, and area colleges and universities. CPE offerings fill the gap by allowing the professional to keep current on changes in the field. SCACPA is a place to serve, grow professionally and make lasting friendships along the way.”

- Cheryl O. Lang, CPA 2007 SCACPA Outstanding Member in Business and Industry 2006-2008 Foothills Chapter of SCACPA Officer Tindall Corporation, Spartanburg, SC SCACPA member since 2004 16

Guide For Members in Business and Industry

South Carolina Association of CPAs

570 Chris Drive • West Columbia, SC 29169 (888) 557-4814, Toll free in SC • (803) 791-4181 www.scacpa.org

PRSRT STD US POSTAGE PAID PERMIT NO. 1146 Columbia, SC