2Q 2012 CPA Report

S eco nd Edi tion 20 1 2

CPA Report South Carolina Association of Certified Public Accountants

South Carolina’s Energy Landscape

PLUS

Accounting Program Builds Bridge Between South Carolina and China Spotlight on Management Accounting

Charleston

2430 Mall Drive, Suite 360

Greenville

843-884-3912

Charleston, SC 29406

864-245-8788

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South Carolina CPA Report

www.american-pensions.com

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CPA Report South Carolina Association of CPAs

South Carolina Association of Certified Public Accountants Magazine Volume 42, Second Edition 2012 Officers Michael R. Putich, CPA, Chair Sharon E. Mann, CPA, Chair-elect Malynda M. Grimsley, CPA, Vice Chair J. Bratton Fennell, CPA, Secretary-Treasurer Timothy L. Baker, CPA, Immediate Past Chair BOARD OF DIRECTORS William R. Barefoot, CPA Charles E. “Eddie” Brown, CPA Patrick P. Carey Jr., CPA Zoe M. Davis, CPA Amanda Hallman, CPA Suzanne Harnois, CPA Cheryl O. Lang, CPA Penny A. Lewis, CPA A.D. “Dave” Masters, CPA J. Patrick McDermott, CPA James W. McIlrath, CPA Philip R. Snipes, CPA Michael J. Targia, CPA, CFA Robert M. Tilton, CPA Beth T. Zamorski, CPA CHIEF EXECUTIVE OFFICER Erin P. Hardwick, CAE MANAGING EDITOR Maureen Taylor GRAPHIC DESIGNER Lisa S. McGee Contributing writers Charles Alvis, MBA, MPA, CPA/PFS, CGMA, CFP® Emily Russell April Blake Reva Brennan, MPA, CAE, IOM Katey M. Budzynski, MPH Clarence Coleman PhD, CPA Erin P. Hardwick, CAE Mark T. Hobbs, CPA, CFF Anthony Masino, JD, CPA, MPACC Maureen Taylor 2012 Editorial Board Charles E. Alvis, CPA, MPA, MBA, Chair John B. Brantley, CPA Amanda S. Colgate, CPA Lisa S. Cooke, CPA Erin P. Hardwick, CAE Karen A. Hursey, CPA Lesley H. Kelly, CPA Margaret L. Lattimore, CPA Anthony G. Masino, CPA A. D. “Dave” Masters, CPA Derrick B. Stark, CPA V. Carroll Webster, CPA, MBA

Features 11 14 16

South Carolina’s Energy Landscape Accounting Program Builds Bridge Between South Carolina and China Spotlight on Management Accounting

In This Issue 18 20 25 25 26

Ethically Speaking - Avoiding the Unauthorized Practice of Law PAC Contributors Rosenberg Graduates from Young CPA Cabinet Young CPA Upcoming Events Work Life Balance – You Must Create It!

In Every Issue 4 6 8 19 22 23 24 24 28 30

From the Chair Association News On Your Behalf Member Profile Chapter Connections Board of Accountancy News Member News Welcome New Members Upcoming CPE Advertiser Index

Statements 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 SCACPA. Advertising rates will be furnished on request to SCACPA, 570 Chris Drive, West Columbia, SC 29169, (803) 791-4181. Publication of an advertisement in The CPA Report does not constitute an endorsement of the product or service by The CPA Report or SCACPA. (888) 557-4814 | www.scacpa.org

South Carolina CPA Report

3

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From the Chair “Don’t wait for someone to ask you to get involved, reach out now to be a part of SCACPA’s advocacy efforts to advance and protect the profession.”

L

ast year, SCACPA initiated a member research project to gauge the value of membership.

This was a direct result of SCACPA’s five-year strategic plan which calls for being in tune with what members want, need and value in their professional membership. Through small discussion groups and an online survey, we asked you, our members, for feedback on which programs and services benefit you the most and what professional needs you have that are not being met.

While details of the final report will be presented this summer, it is important to note that our members recognize SCACPA as their professional home and look to us for updates on critical issues, advocacy for the profession and promoting the role of the CPA as the protector of the public interest.

This goes hand in hand with SCACPA’s mission of “advocacy for both the public good and for the (CPA) profession.”

As the only statewide association that protects your investment in the CPA license, SCACPA holds regular meetings with the S.C. Department of Revenue, works closely with the S.C. Board of Accountancy, monitors state and federal legislation and maintains a strong presence at the South Carolina State House.

Changing economic and regulatory environments coupled with an election year make advocacy for the profession more important than ever.

So how do you, as a member, get involved? SCACPA offers a number of opportunities including:

CPA POLITICAL ACTION COMMITTEE (PAC)

The Political Action Committee is an important part of the grassroots political effort that enables the CPA profession to support legislators who share our views. It does this by making contributions to key leaders and members of the legislature as well as candidates for statewide office.

The profession has enjoyed a long list of legislative victories, but none of those successes would have been accomplished without legislators who listen to and support our position. It is more important than ever that we continue to support those who protect our interests - in person, by mail and email and with financial contributions.

Get involved in the political process and ensure that we protect the integrity of your credential and the interests of you, your organization, your clients and customers.

CPA DAY AT THE STATE HOUSE

Every spring, over 100 SCACPA members gather to meet, greet and talk informally with legislators about issues that affect our profession. If you have not been a part of this annual event I encourage you to get involved.

Michael Putich, CPA 2012 SCACPA Chair SCACPA member since 2000

KEY PERSON CONTACT (KPC)

SCACPA’s 150+ KPCs play a vital role in advancing CPA and business interests in the legislative arena. By building relationships with legislators, you are helping to ensure that our voice is heard at the state level. SCACPA provides all the tools you need to be a productive member of the legislative network, including legislative alerts, sample letters, phone scripts and staff support.

PROFESSIONAL ISSUES UPDATES (PIU)

SCACPA delivers professional issues updates in eight locations across the state to help you stay on top of your profession. Earn four hours of free CPE while hearing about issues of critical importance to CPAs. Look for details soon.

SCACPA is also working to constantly reaffirm the role of the CPA as a protector of the public interest. One of the top issues that came out of the member research project was the need to market the CPA brand. In the coming year, staff will work with members to develop a marketing plan that demonstrates the value and diversity of the CPA to the business community and the general public.

Don’t wait for someone to ask you to get involved, reach out now to be a part of SCACPA’s advocacy efforts to advance and protect the profession; contact SCACPA CEO, Erin Hardwick, to learn how you can GET INVOLVED!

Michael Putich, CPA, is president of Robinson Grant & Co., P.A. He can be reached at 843-3425151 or via email at Michael@robinsongrant.com

(888) 557-4814 | www.scacpa.org

South Carolina CPA Report

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Congratulations to Emily (Allen) Russell

Congratulations to SCACPA’s Communications Manager Emily Allen. In February, Emily married Mark Russell. In addition to changing her last name, Emily’s email address has also changed.

She can now be reached at erussell @scacpa.org.

Promoting the Profession SCACPA member Russ Gladden recently worked with second graders at Clinton Elementary School in Lancaster as a Junior Achievement volunteer. Russ spoke to students about various jobs in the community, the role of government and how everyone pays taxes to keep the government and community running.

Russ works at The Springs Company in Lancaster. He joined SCACPA in 2012 and is a member of the Young CPA Leadership Cabinet and the Young CPA Network.

Carla Walker Wins ExamMatrix Giveaway Carla Walker, a CPA candidate, was the winner of SCACPA’s membership renewal drive giveaway. Students and CPA candidates that renewed within a specific time period were entered into a drawing for a complete set of ExamMatrix CPA Review Software & Reference books, a $995 retail value.

p Uvette Rogers, CPA, (at left) speaks to high school students at the NABA Accounting Awareness Program.

SCACPA Sponsors NABA High School Program SCACPA served as a sponsor of the Columbia Chapter of the National Association of Black Accountants first High School Accounting Awareness Program.

Approximately 20 students from the Midlands attended and learned about networking, financial literacy and budgeting. A Corporate Panel Discussion focused on careers in accounting and featured SCACPA member Uvette Rogers of the Children’s Trust of South Carolina.

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South Carolina CPA Report

Carla is from New Zion and is currently pursuing a masters in accounting and finance. She is currently employed at the Clarendon County Clerk of Court Office as an accounting specialist and as a staff accountant with William Levan Byrd, CPA, PC. Congratulations to Carla and thank you to ExamMatrix.

(888) 557-4814 | www.scacpa.org

Tax Guide

The Taxation Committee annually produces a tax guide for state legislators. The guide, specific to elected officials, is a handy tool for the legislators and their CPAs. Representatives from SCACPA delivered the tax guide on February 8 and received accolades from both the House of Representatives and the Senate. q Pictured below: SCACPA’s Taxation Committee and others recently delivered tax guides to state legislators. Participating were: (top photo, from left) Mark Hobbs, CPA, The Hobbs Group; Gayle Wenzel, CPA; Erin Hardwick, SCACPA; Chuck Talbert, CPA, McAbee Talbert Halliday & Company; Charles Ayers, CPA, McDowell-Pearman, LLC; James Stewart, CPA, Waring & Associates, CPAs, PA; Beth Zamorski, CPA, Todd, Bremer & Lawson, Inc.; Donny Burkett, CPA, Burkett, Burkett & Burkett, CPA, PA; and Matthew Irick, CPA, Sheheen Hancock & Godwin, LLP and Eddie Howard, CPA, W. Edward Howard Jr., Attorney at Law. (Bottom photo, at left) Howard enjoys lobbying activity at the State House. (Bottom at right, from left) Beth Zamorski with Senator Hugh Leatherman and James Stewart.

SCACPA 570 Chris Drive, West Columbia, South Carolina 29169 (803) 791-4181 or Toll-free (888) 557-4814 Fax (803) 791-4196 | www.SCACPA.org

Chief Executive Officer

Chief Operations Officer

Glenna P. Osier Peer Review & Member Services Manager Ext. 107, gosier@scacpa.org

SCACPA Launches Volunteer Connections SCACPA receives a variety of requests from the community for CPA volunteers.

Opportunities include non-profits seeking board members, beauty pageants in need of CPAs to serve as auditors, community organizations looking for speakers and probate courts seeking conservators.

As a way to connect you with opportunities in your community, SCACPA is launching Volunteer Connections. Not only can you view available positions, you can also post opportunities to share with your fellow CPAs. By sharing your knowledge and talents with the community, you also serve the association as well as the accounting industry.

CLICK

Emily A. Russell Communications Manager Ext. 106, erussell@scacpa.org Sandra P. Oxner, CMP, CMMM Chapter & Member Events Manager Ext. 112, soxner@scacpa.org

To find out more visit www.scacpa.org/ volunteerconnections

(888) 557-4814 | www.scacpa.org

South Carolina CPA Report

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F

or the profession, by the profession – that’s what the South Carolina Association of CPAs is all about. SCACPA’s board of directors, committees and task forces and Young CPAs Leadership Cabinet are hard at work making decisions, providing guidance and embarking on projects and programs that strengthen the profession and enable members to improve their knowledge, network and technical skills.

SCACPA BOARD OF DIRECTORS MEETING The SCACPA Board of Directors met Jan. 20 in Bluffton, where SCACPA Chair Michael Putich’s firm is headquartered. Among its items of business the board received a preliminary report on the member research project. The project consisted of a series of eight focus groups and an online member survey to help SCACPA identify how to more effectively meet members’ needs. More information on the final report will be shared with members via the CPA Report and website.

Other items of business included: Association Governance and Structure: SCACPA’s five-year strategic plan calls for the study of the association’s Governance Structure: Why do this?

The association essentially runs on the same organizational structure as it did decades ago. There’s nothing inherently wrong with that; however, the business environment has changed dramatically.

The way that CPAs, their firms and their companies want to access benefits and services has also changed. The SCACPA board wants to ensure that the way the association serves its members is consistent with the times, and continues to meet their needs.

The board heard a report from a Strategic Membership Task Force, chaired by board chair-elect Sharon Mann (Chapin) and Pat Carey (Hilton Head). This 19-member task force was charged with exploring the strategic initiative of examining the effectiveness of structure and governance of SCACPA’s eight chapters and fostering a positive symbiotic relationship between the chapters and the state organization – all in order to serve you, the member, better.

The recommendations of the task force to the board were to: • Create an optional pilot program for the smaller chapters through which they could choose a higher

level of administrative

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South Carolina CPA Report

and operational support from SCACPA. By freeing local volunteer leaders from the administrative work they will be better able to plan high quality CPE and other activities for members • Ask chapters to help offset the cost of SCACPA providing increasingly significant administrative and marketing support • Create a structure that encourages SCACPA and the chapters to work more collaboratively on the types of CPE offerings that take place across the state • Create a structure that encourages chapters to consider memberrelated activities over and above CPE After careful deliberation, the SCACPA board unanimously approved the recommendations. Efforts are now under way to implement these changes.

Marketing the CPA Brand: We’ve heard from members that an important role for SCACPA to play is helping distinguish the CPA credential in the marketplace.

The board has designated funds for this effort and charged the Membership Committee with developing a plan to help the business leaders and the general public understand the value a CPA brings to the table.

New Options for Health Insurance: The board endorsed joining the Home Builders Association of South Carolina Health Plan in an effort to increase the total number of health plan participants which in turn helps stabilize cost over the long term. The new SCACPA Affinity Health Plan is available to member firms with two or more eligible and participating employees and will continue to be offered exclusively

(888) 557-4814 | www.scacpa.org

through Southeastern Insurance Consultants (SIC) and Carolina Care Plan (CCP).

to assist AICPA in sharing information about the new credential with South Carolina CPAs.

SIC and CCP have worked as a team to develop new plan designs and lower cost to best serve the needs of membership. SIC is also offering health insurance solutions for “single member/ one employee” firms.

Partnership with Junior Achievement: The Financial Literacy Task Force has voted to partner with Junior Achievement. The program will allow volunteers to work with students at the elementary, middle school or high school level. JA will pair volunteers with schools, provide all of the materials and train volunteers. Volunteers can also incorporate information about the CPA profession into the presentation.

You can find out more about the New SCACPA Affinity Health Plan by visiting the SCACPA website (click on member exclusives, employee benefits plan) or by contacting SIC at 1-877-2440481 and requesting a proposal for your firm.

CGMA support: The newest credential for CPAs in management is the Chartered Global Management Accountant or CGMA. The SCACPA Board agreed in its January meeting

EYqZ] Al k Lae] lg 9m\al Qgmj @]Ydl` HdYf7 Healthcare is changing these days; maybe your benefit plan should too. Southeastern Insurance Consultants can help. Because when it comes to understanding the new healthcare landscape, nobody knows more than SIC. From working with state and federal government to help shape new legislation, to understanding legal compliance and benefit administration, the benefit pros at SIC are at the forefront of the industry.

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SCACPA MEETS WITH DEPARTMENT OF REVENUE Representatives from SCACPA met Feb. 23 with senior staff from the South Carolina Department of Revenue, including Department Director Jim Etter. Topics discussed included the communications and e-filing delay

with corporate returns and the demand by the CPA community to be able to e-file partnership returns. Due to a lack of adequate staffing and funding SCDOR may not be able to process e-filed partnership returns until 2014.

SCACPA will be investigating whether the profession can influence this resource issue to move more quickly to a resolution to this problem. SCACPA meets quarterly with the SCDOR, so if you have issues or concerns please forward them to Erin Hardwick, ehardwick@scacpa.org. n

Erin P. Hardwick, CAE, has served as SCACPA’s CEO since 2005. She currently serves as secretary/treasurer of the CPA Society Executives Association, a member of the AICPA Horizons 2025 Advisory Panel, a member of the S.C Secretary of State’s Nonprofit Advisory Council and the S.C. Economics Board of Directors.

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YOU GET TWO DOLLARS IN HEARTBURN FROM THIS CLIENT FOR EVERY DOLLAR IN FEES?

“LET’S TALK THIS THROUGH” Ron Klein, JD, CFE, VP Risk Management Counsel for CAMICO, discusses the risks faced by CPAs every day.

OK, Ron, is this client relationship really a risk to me?

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How might you be blamed?

Isn’t it better to fix the problem and keep the client?

Sure, if you can. But at what cost to you, your staff and your firm?

But disengagement is such an unpleasant business...

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OK, so I’m ready to disengage from this problem client.

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See a video of Ron Klein talking about how CPAs can handle disengagements at www.camico.com/disengage

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South Carolina’s Energy Landscape Compiled by Derrick Stark, CPA and Maureen Taylor, SCACPA

John Brantley, CPA

Steven Henderson, CPA Bob Long

E

nergy is everywhere. Its sources, limitations, opportunities, consequences and certainly the costs affect nearly every aspect of our personal and professional lives. Balancing the financial, political, and environmental aspects of South Carolina’s current energy landscape and future may seem simultaneously hopeful and hopeless. An AICPA survey last year cited rising fuel prices as one of the primary concerns for CPAs. As we head in to the peak of South Carolina’s tourism season, energy will affect consumers’ travel plans, and nearly every business and household’s fiscal performance.

(888) 557-4814 | www.scacpa.org

Steve Spivey

We recently asked individuals in the business of powering our state about the challenges of energy production, South Carolina’s role in the larger global theater and the future.

Thank you to SCACPA members Steven Henderson, CPA, chief financial officer of York County Natural Gas Authority and John Brantley, CPA, senior vice president and CFO of Central Electric Power Cooperative; as well as Bob Long, general manager of resource planning for SCE&G and Steve Spivey, manager of renewable energy at Santee Cooper for their insights. continued on page 12

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“A large portion of South Carolina’s power still comes from coal.

The EPA is considering many regulations that will cause utilities to add equipment to meet the requirements of these regulations and will likely cause some coal-fired generation plants to be closed.“ What global trends and issues are influencing energy production in South Carolina, including sources, costs, etc.?

LONG: Increasing energy demand is the critical global trend which impacts energy production and use in South Carolina. China, India, Pakistan and a host of other countries are experiencing rapid economic development which is causing their energy demand to outstrip increases in energy supply.

The result is higher prices for all of the major energy sources: coal, oil, nuclear, and natural gas, which translates into higher gasoline and electricity prices.

Even though SCE&G produces virtually all of its electricity within South Carolina, it competes for the resources used to produce that electricity with the rest of the world.

The dependence of cars on gasoline, produced from oil which increasingly comes from overseas, particularly the politically fragile Mideast, is the best example of the other major global issue affecting South Carolina, and that is energy security. The merest hint of a blockade in the Straits of Hormuz

by Iran has caused gasoline prices to skyrocket recently, and at present there is no significant alternative to gasolinepowered cars for most Americans. As alternatively fueled vehicles continue to improve their range, capabilities, and affordability, the threat of economic disruption from a break in the global oil pipeline will diminish, but this will take time.

HENDERSON: Certainly the increased standard of living and growing middle class in China and India are the major

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factors influencing global demand for fossil fuels. On a local level in South Carolina, environmental issues related to coal fired generation and finding alternative means for electrical production are having a great impact on energy production. The cost of wind or solar production is prohibitively expensive, so we are most likely to see investment in natural gas fired electric generation facilities.

What potential regulatory changes or legislation do you believe have the greatest potential to significantly impact energy-related decisions in South Carolina?

BRANTLEY: There are numerous rules and regulations coming out of the EPA that will increase the costs of electricity to South Carolinians. A large portion of South Carolina’s power still comes from coal. The EPA is considering many regulations that will cause utilities to add equipment to meet the requirements of these regulations and will likely cause some coal-fired generation plants to be closed. Prior to the recession, Congress was debating some sort of carbon tax legislation that would have significantly increased the cost of electricity. This movement was put on hold as bigger issues and deadlock took center stages.

However, future Congresses may revisit these issues.

HENDERSON: On a national level, the proposed Natural Gas Act could provide incentives for compressed or liquid natural gas fill stations, as well as, the conversion/production of natural gas fueled vehicles. Increased environmental regulation could hamper the production of both electricity and natural gas.

LONG: Environmental Protection Agency’s Mercury and Air Toxic Standard (MATS) and Cross State Air Pollution Rule (CSAPR) may lead to the retirement of some coal to electric generation.

That generation will be replaced with nuclear, natural gas fired plants and possibly renewable generation.

What is currently the number one driver of interest in alternative energy sources?

LONG: Fears, worries and concerns.

Fears of higher energy prices, worries that interrupted fuel supplies may lead to outages and concerns that traditional fossil fueled energy harms the environment are fueling the search for alternative energy sources. The search for alternative energy follows themes of green, clean, environmentally responsible, sustainable, energy independence and locally created jobs.

BRANTLEY: Unlike some other states, South Carolina does not have “renewable energy portfolio standards” which would require state utilities to obtain certain percentages of their load from renewable projects. However, all the utilities operating in the state are pursuing renewable generation. Santee Cooper is operating several landfill gas generators throughout the state and has installed several solar panels on schools and other buildings. They are also currently testing wind generation off the coast of Georgetown. However, the cost of these alternatives continues to be a hurdle. All alternative sources of energy cost more than the current generation fleet. That trend will continue. Unlike the upper Midwest, South Carolina doesn’t have access to a lot of wind power. The only true source of wind is offshore and the costs of transmitting that power from the offshore windmill to the onshore power grid is prohibitively high.

(888) 557-4814 | www.scacpa.org

What impact will development of alternative energy sources have on the short-term and long-term price of gas in South Carolina?

LONG: There are two things which could bring down the short-term price of gasoline in South Carolina: a collapse of OPEC or a global recession. We saw the former in the 1990s as individual OPEC members sold oil at well above their agreed-upon quotas, which kept down prices. This scenario is unlikely to occur in the future, however, as increased demand for oil provides a ready market for all of the oil OPEC cares to produce. The last recession saw gasoline prices drop rapidly as demand plummeted due to rising unemployment, manufacturing shutdowns, decreased tourism, etc. This isn’t a solution that consumers would prefer. So, short-term prices of gasoline will continue to be dependent on all of the factors which determine them at present. In the long run, it will take massive increases in alternative energy sources and infrastructure to impact domestic gasoline prices. While increasing mileage standards for cars will reduce growth in gasoline demand, this is partially offset by population growth, suburban sprawl, and gains in the number of cars per household. There were almost 255 million registered passenger vehicles in 2008. As of December 2011 there were roughly 2 million hybrid or electric cars in the United States, so less than one percent of the domestic automotive fleet is at least somewhat gasoline independent.

With respect to electric vehicle usage, how long do you predict it will be until South Carolina has a broad enough vehicle charging station infrastructure in place in order to make wide-spread usage more practical?

LONG: An infrastructure exists today for recharging electric vehicle (EV) batteries. Household outlets (110 volts, referred to as level 1 charging) are capable of recharging EV batteries but the time to fully charge a [Nissan] Leaf battery pack may take up to 17 hours. A level 2 charger (220 volts) shortens the charging time by more than half but requires equipment purchase and professional installation. More than 80 level 2 chargers have been purchased and donated to municipalities in South Carolina through Plug-In Carolina [plugincarolina.org]. Ten are located in the City of Columbia and eight are in Charleston.

Over the next five years, as capital costs of EVs become more affordable and the number of charging stations expands, the number of EVs in South Carolina will likely expand to more than 600.

SPIVEY: This is a “chicken-or-egg” situation. There needs to be a market to support the infrastructure. Santee Cooper and the state’s other utilities have worked with Plug-In Carolina to promote electric vehicles and actually install publicly accessible charging stations around the state. However, the biggest impact on making "wide-spread usage more practical” would be for consumers to modify driving habits and, from our standpoint, do their primary charging overnight during period of low

electric demand. That will eliminate the need to build additional generation simply to charge electric vehicles, if motorists do adopt them in mass.

BRANTLEY: I don’t think the lack of vehicle charging stations is the main determinant on the use of electric vehicles.

As part of our research into the use of electric vehicles, Central Electric owns a Toyota Prius that has been enhanced to extend the use of the batteries, a Chevy Volt, and a Nissan Leaf. All of these vehicles cost more than $40,000. This high upfront cost is the primarily hindrance to widespread use. In addition, improvements to the battery systems will need to occur in order for 100% electric vehicles to be practical.

HENDERSON: I do not really see electrical vehicles as a practical alternative in SC. The rural nature of the state and the limited range of current electrical vehicles and the long re-charging cycle make them an unattractive alternative to combustion fuel vehicles. Furthermore, what most people don’t grasp is that increasing the demand for electrical vehicles increases the demand for electric generation. Instead of being free from emissions, electric vehicles (EVs) are simply “emissions elsewhere vehicles” (EEVs). When you look at the total energy cycle including battery production and disposal, natural gas or hydrogen vehicles are much more environmentally friendly, and have the range to be practical in South Carolina. For natural gas to be widely used, a network of natural gas fill stations will have to be developed. n

HENDERSON: In the short term, I see very little impact from the development of alternative energy sources. In the long term, it will take a concerted effort through business/government partnerships to impact prices. Even in if the currently non-existent partnerships are successful, the price of energy will increase. The best we can hope for is to lessen that increase.

(888) 557-4814 | www.scacpa.org

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Accounting Program Builds Bridge Between South Carolina and China

by Clarence Coleman PhD, CPA and Charles Alvis, MBA, MPA, CPA/PFS, CGMA, CFPÂŽ

W

inthrop University is partnering with Nantong University in, China to offer a joint undergraduate accounting program. The program provides students the opportunity to earn nine accounting credit hours and to complete a total of nine classes, or 27 total hours toward their degree while in China. The last year of coursework is taken in residence at Winthrop University. Winthrop facilitates the supply of faculty to teach the nine hours in China.

Nantong University has approximately 30,000 students enrolled including the medical school and is situated roughly three hours North West of Shanghai, in the Jiangsu province. Nantong University was established in 1912 and offers 84 undergraduate programs.

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TRAVEL AND FACILITIES The average 20 hour travel time is very demanding, particularly the 14 hour nonstop flight to Shanghai. Upon arrival, faculty are usually taken to dormitory style sleeping quarters and after one night’s sleep, begin teaching the next morning at 8 a.m.

China has embarked on a program of modernizing university facilities.

Consequently, whole university campuses have been relocated and rebuilt. Thus, all the buildings are modern at Nantong University but as are other government buildings in this part of China, they are neither heated nor cooled. This is an energy conservation policy adopted by the government some time ago. The no heating and cooling policy also applies to the dormitories where the students

p Accounting students at Nantong University pose with Winthrop University Professor Charles Alvis in May 2011. live six to a room. Hot water is made available to all on campus three times a day.

TEACHING AND CLASSES No matter the temperature, students attend class on time and are eager to learn. Classrooms are built to accommodate 60 to 80 students and the desk and chairs are the bench-desk combination style, much like ones seen in some American schools. The classrooms have sliding blackboards and computers connected to projectors for the faculty to use. Since paper products are at a premium, the students tend to take notes in very small notebooks or in the margins of their textbooks.

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“All the buildings are modern at Nantong University but as are other government buildings in this part of China, they are neither heated nor cooled. This is an energy conservation policy adopted by the government some time ago.“ In order to gain admission to the joint accounting program, students are required to pass an intensive English speaking and writing class since the class is taught by Americans. While the intensive English class does provide students a basic understanding of English, the technical language of accounting can still be a challenge.

Therefore, students do have a regular three hour class taught in the School of Business called English for Accounting.

The education system in China places a significant emphasis on knowledge recall. This is understandable when you consider that there are approximately 3,000 symbols in common use in written Mandarin. Consequently, the students’ capacity to memorize facts is impressive and they work very diligently to master the application of accounting principles.

Professors are held in high esteem in China. The students stand when called

upon to respond to questions. Due to their culture, they seldom volunteer to answer questions even when they know the answer, however students are strongly encouraged to ask and to respond to questions voluntarily.

Our goal is to deliver the material in a format and using a method that the students can expect to see at Winthrop.

Plus, the faculty prepares the students for a learning environment where recall is the beginning of the learning process and where application, synthesis, and analysis are the valued goals.

Although most of the students who complete the undergraduate program return to China, to date, more than 10 have been admitted to graduate programs. These students scored exceptionally high on the Graduate Management Admissions Test.

Some students elect to pursue their graduate studies in Winthrop’s MBA Accounting program while others have been admitted to programs at Clemson University, University of Tennessee, Purdue University, University of Maryland, and the University of Colorado. To date, two of the joint accounting program students have completed the uniform CPA examination and the rest are preparing to take the examination.

The vast majority of students staying in the United States to pursue a graduate degree plan on building a career in America. They are most anxious to earn an opportunity for an internship and through hard work coupled with

producing very good results hope to convert the internship into a permanent placement position. The students are more than willing to make whatever sacrifices are necessary to ensure their continued success in and out of the classroom.

SUMMARY This successful program is mutually beneficial to Winthrop University and Nantong University. Each year the number of students enrolled in the program grows dramatically. This year the number grew to nearly 200 participants. Winthrop University benefits from the ability of the 80 Chinese students in residence to contribute to a diverse student body, as well as to enhance an understanding and appreciation of ethnic and cultural diversity. By gaining knowledge of another culture, Winthrop students and faculty are in a better position to capitalize on international opportunities and in some small way, to help contribute to a greater world understanding. n Charles Alvis, MBA, MPA, CPA/PFS, CGMA, CFP®, is a professor of accounting at Winthrop University in Rock Hill. He serves as chairman of the Editorial Board Task Force and has been a SCACPA member since 1983.

Clarence Coleman, PhD, CPA, is a professor of accoun ting at Winthrop University in Rock Hill. A SCACPA member since 1979, Clarence currently serves on the CPE Adhoc Committee. He is a former member of the SCACPA Board of Directors.

t Dr. Clarence Coleman and his students at Nantong University dress accordingly for the cooler temperatures in March 2011.

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South Carolina CPA Report

15

Spotlight on Management Accounting Compiled from AICPA and SCACPA

“CEOs want help “connecting the dots” to communicate a clear picture of how the organization is running and where the opportunities are.”

B

usiness is in flux amid unprecedented economic, technological and social change. Across the world, organizations are racing to keep up with the pace of business, global competition and the increasing risks of day-to-day operations. As organizations focus on how they process and interpret these global forces, the role and responsibilities of the finance function are evolving as well.

It’s no surprise that now, more than ever, organizations rely on management accountants to apply non-financial, qualitative information along with financial analysis to help make decisions vital to achieving sustainable growth.

CEOs want help “connecting the dots” to communicate a clear picture of how the organization is running and where the opportunities are. Increasingly, CPAs in business, industry and government have taken on these responsibilities and become key players in shaping their organizations’ futures and continuing success.

and maintain oversight and control of organizational capital and resource allocations.

THE CPA AS MANAGEMENT ACCOUNTANT Organizations have always leaned on CPAs to provide necessary financial information to meet stakeholder needs.

CPAs performing management accounting functions build upon their foundation of objectivity and financial expertise to maintain a broad skill set touching on areas such as R&D, production, marketing, human resources and logistics.

In many instances, an industry-specific knowledge of regulations, markets and common tactics are added to the mix. This broadened knowledge base, plus the ability to present and communicate information to stakeholders—who often are not finance experts—uniquely position CPAs as management accountants.

WHAT IS MANAGEMENT ACCOUNTING? Management accounting is a discipline at the intersection of finance and strategy. It combines quantitative and qualitative data to guide more informed decision making and drive long-term business success. It brings together financial accounting—reporting financial performance, understanding the framework of financial laws, standards and regulations and providing a compliance perspective—and strategy—managing business opportunities, providing a framework of solutions and best practices and guiding decisions.

This means management accountants are equipped to shape both short- and long-term strategy, provide key insight throughout the decision-making process

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INTRODUCING THE CPA, CGMA Professional recognition of the work CPAs in business, industry and government do on behalf of organizations has taken a significant step forward with the introduction of a new designation, the Chartered Global Management Accountant (CGMA). Complementing the U.S. CPA, the CGMA demonstrates that designees have the experience, skills and expertise to provide organizations with the information needed to optimize performance.

The CGMA has been established by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA) through a joint venture that collectively represents more than 550,000 accounting professionals and students throughout the world.

Together, the AICPA and CIMA are working with employers and influencers around the world to increase awareness of what management accountants do to drive successful business performance.

“Leveraging the strength of CPAs and expanding awareness of their role in organizations worldwide, the CGMA will showcase designation-holders’ management accounting expertise and serve as a complement to the knowledge, skill set and commitment to the code of conduct CPAs already have,” said Barry Melancon, CPA, CGMA, president and CEO of the AICPA.

AN OPPORTUNITY FOR SCACPA MEMBERS The CGMA is available to regular (voting) members of the AICPA who meet the qualifying requirements. Members of SCACPA who also are eligible members of the AICPA, can experience the many resources designed to build their skills and knowledge for a free introductory period through July 31, 2012. Visit cgma.org for thought leadership papers, access to a global community and a career toolkit to help you promote your CGMA. “Our CPA, CGMA members are a value-added force,” said Erin Hardwick, SCACPA CEO. “They articulate a clear vision in an otherwise dynamic and complex environment. From inspiring and empowering strategically sound decisions to shepherding their organization’s resources, management accounting professionals set the tone for their employers’ ongoing success.” n

For more information about the CGMA and to find out if you qualify, visit cgma.org, or contact SCACPA Member Services Manager Maureen Taylor at CLICK mtaylor@scacpa.org.

Copyright © 2012 American Institute of CPAs. All rights reserved.

GR WTH WTH GR It’s what CGMA stands for.

It’s what CGMA stands for.

Officially, of course, it’s Chartered Global Management Accountant.

Officially, of course, representing it’s Charteredaccomplished Global Management Accountant.

A new designation professionals that drive A new designation representing accomplished professionals that drive and deliver business success, worldwide. and deliver business success, worldwide.

Find out more at cgma.org Find out more at cgma.org

Copyright © 2012 American Institute of CPAs. All rights reserved.

“I think that we all believe that whether you are by background an accountant, a finance major, an economics major, whatever your background is, that you need to be less siloed, and you need to be a broad thinker,” said Arnold Hanish, chief accounting officer and vice president, Eli Lily & Co. “…So communication skills are critical. Being able to translate complex issues into simplistic terms where non-financial people can understand what you’re saying is critical.”

South Carolina

CPA

17

Ethically Speaking:

Avoiding the Unauthorized Practice of Law

A

s CPAs continue to expand their service offerings beyond the traditional practice of accounting, auditing and tax services, we need to understand the boundaries established by the South Carolina Supreme Court (Supreme Court) related to the Unauthorized Practice of Law (UPL).

WHAT IS THE UNAUTHORIZED PRACTICE OF LAW? Per the South Carolina Code of Laws, in order to practice law in South Carolina, an attorney must be licensed by the Supreme Court. Except where a person is representing his or her own cause, practicing law without a license is strictly prohibited. Section 40-5-310 states that “practicing law without a license is a FELONY, with a penalty of up to five years in prison and/or five thousand dollar fine.”

WHAT IS CONSIDERED THE “PRACTICE OF LAW”?

The practice of law is more than just appearing in court on behalf of a client; it includes “the preparation of legal instruments of all kinds and in general all advice to clients and all action taken for them in matters connected with the law.”

Some examples of UPL that are within reach of certain CPA services are estate planning beyond typical tax advice

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South Carolina CPA Report

“As CPA services continue to expand and opportunities arise to pursue new revenue streams, CPAs must take precaution to insure the assistance being provided does not overstep the UPL threshold..“ (trust formation or asset protection techniques), providing advice on certain estate planning devices that are non-tax related (division of assets, will provisions, etc.) and the submission of a Secretary of State formation filing by a non-shareholder/member (must be done by member or legal counsel).

Typical CPA tax practice includes the preparation of federal and state income tax returns, research to determine the appropriate treatment of prospective and completed transactions, and representation of a taxpayer in administrative proceedings. CPAs also maintain special status; it is not UPL for a CPA to represent clients before an agency or probate court if it is within his or her professional expertise and qualifications.

It is not uncommon for CPAs to be in situations where they are asked to

interpret laws for clients. Treasury Circular 230 grants CPAs the ability to represent clients’ interests before the IRS which allows the CPA to analyze and interpret tax law application to client fact patterns as well as consulting with tax clients regarding the results and analysis. When the CPA steps beyond the permitted scope, the CPA is likely subject to a UPL violation. It is not uncommon for CPAs to believe these services are “associated” with Circular 230, however, it is more than likely these services will be deemed UPL for CPAs. As CPA services continue to expand and opportunities arise to pursue new revenue streams, CPAs must take precaution to insure the assistance being provided does not overstep the UPL threshold. The easiest way to avoid UPL and potentially increase your revenue stream is forging relationships with local attorneys. Most attorneys get cold chills when the discussion turns to tax policy and treatment. By developing a solid rapport with an attorney the CPA can create a beneficial relationship for both parties. n Anthony Masino, JD, CPA, MPACC, is an assistant professor with South Carolina State University as well as a practicing CPA and attorney. He currently serves on SCACPA’s Behavioral Standards Committee and Taxation Committee.

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Member Profile

Jeff Deason, CPA Title and Company: Controller, York County Natural Gas Authority Hometown: Rock Hill, SC (originally from Pageland, SC) SCACPA Involvement: Chapter officer (Catawba), Educational Fund Committee (scholarships), CPE Committee (chapter rep) SCACPA Member since: April 1998

What made you choose to become a CPA? After attempts at electrical engineering and computer science, I wanted to find something at which I could have some success. Seriously, I was required to take an accounting class for nonaccounting majors. It concentrated mainly on the understanding of financial statements, as well as debits and credits. The professor of this class always went further with her presentations and explanations, so it was not just about the numbers. It was her passion that helped me to see the importance of a CPA and the difference a CPA could make in the business community. I wanted to be a part of that.

What do you enjoy most about being a CPA in the business and industry field? Least?

I feel that I am able to utilize more of the skills that I have developed during my career. I have more opportunities to combine my financial accounting skills with managerial accounting skills. I enjoy the challenges with making varied departments and their needs come together for one common purpose.

I am relatively new to the business and industry area and my least

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“Prepare yourself to be challenged every day. The market place and economy changes quickly, and you must be ready for whatever happens.� favorite part is relative to my prior work experience. I spent the first portion of my career in public practice, and I developed strong bonds and relationships with clients during this time. I miss these relationships and those individuals that allowed me the opportunity to work with them.

What is the biggest challenge that the energy industry is facing?

There are numerous challenges facing the energy sector. One challenge that impacts all others is the lack of a coherent national energy policy. In order to meet the growing energy needs, there needs to be an energy policy that works to mesh all possible energy sources (wind, solar, nuclear, natural gas, hydro, clean coal, etc.) together. We need to have an allinclusive policy, rather than an exclusionary one.

How have you benefitted from your membership in SCACPA? I have been able to work with some strong leaders in the profession. The networking with strong peers has helped develop my skills and abilities to better serve clients, my company and the accounting profession. I have gained some good insights on the ever changing accounting profession.

SCACPA has afforded me opportunities to work with excellent mentors.

What advice do you have for young CPAs looking to enter the business & industry sector? Prepare yourself to be challenged every day. The market place and economy changes quickly, and you must be ready for whatever happens. Seek out challenges and do not shy away from them. Going beyond your comfort zone will only help you to grow professionally.

How do you enjoy your leisure time?

I truly enjoy spending time outdoors.

My favorite way to spend time outside is chasing a golf ball around the golf course. I love the challenge in trying to become a better golfer. This has taught me a lot about patience and perseverance! It is definitely a work in progress. My family and I also spend many fall Saturdays at football games and tailgating. n

South Carolina CPA Report

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CPA-PAC Donors

T

hank you to our CPA Political Action Committee (PAC) donors. The PAC is a vital part of SCACPA’s grassroots efforts and your contributions enable us to educate legislators about issues of importance to the profession and support those candidates that share our views.

In addition to the contributors listed below, SCACPA would like to recognize the employees of Dixon Hughes Goodman, LLP who contributed a combined total of $5500. n

u Pictured right: 1. Charles Avis, CPA, delivers a check to Senator Wes Hayes; 2.

Mike Upton, CPA, and Nancy Upton, CPA, delivers a check to Representative Mike Gambell; 3. Pat McDermott, CPA, delivers a check to Speaker of the House Bobby Harrell

CPA-PAC DONORS (11/15/2011 – 03/14/2012) Champion: $2,500 & up WebsterRogers, LLP

Advocate: $1,000-$1,499 Elliott Davis, LLC

Pacesetter: $500-$999

Derrick Stubbs and Stith, LLP McAbee Talbert Halliday Schmoyer & Company Scott & Company, LLP

Leader: $250-$499

Sheheen Hancock & Godwin, LLP

Investor: $100 - $249 S. C. Beckwith Charles E. Brown John F. Camp Robert C. Cooper George W. DuRant John B. Fennell Harry B. Gregory Sr. Erin P. Hardwick Penny Lewis Sharon E. Mann James W. McIlrath Sara B. Penn Jason C. Sweatt Walda C. Wildman

Backer: $50-$99

William E. Abernethy Jr. Bernard N. Ackerman Claudia W. Adams T. D. Ainsworth Janice F. Avant Christopher J. Bachkosky Michael G. Barb

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South Carolina CPA Report

John P. Barber Christopher Baum Randy J. Bell Matthew D. Bernstein Robert F. Berry Jeremy S. Betsill Donald G. Boan Lawrence H. Bokor Allan G. Bolden Peter D. Botzis Deana D. Bouknight Robert P. Bradham John E. Brenneman Lucy W. Brenner Rod Broady Brian J. Broom Christopher A. Brown William W. Brown Lindsay Bryan Thomas J. Bryson Kristen E. Buch Heather L. Butz William L. Byrd Roxanne R. Caldwell Pierce W. Cantey Patrick P. Carey Jr. Benjamin Cartwright Christine E. Cassidy Elizabeth A. Chapman Converse A. Chellis III A. C. Clarkson Jr. Alfred T. Clarkson Blair E. Clawson James B. Cobb Mary Jo Cole Dr. Clarence Coleman Jr. Christopher J. Controne W. H. Cook Annmarie Corrow Michael J. Costigan Sr. George L. Counts Jr.

Natalie K. Crisp Mark S. Crocker R D. Crowley Robert A. Curtis Hope M. Davis Zoe M. Davis R. K. Dooley Rodney K. Dooley Jr. Helen B. Dowbak Johnathan N. Dowbak Wallace Dunn II Mary E. Dwyer P. Thomas Edge Tiffany M. Ehrhart Jennifer A. Elder Kelley Elders Cimberlie D. Elkins Donald L. Ellis Amy S. Ely Mary L. Enright Tracey H. Erbe Michael R. Evans James D. Ewart A. L. Fee Christopher M. Feehan Gale A. Fennell Ronald M. Fields Jr. Ryan F. Finklea Lindsey N. Fisher Charles R. Fliflet Tammy M. Flowers Donald A. Floyd Stanislava S. Fowler Jennifer N. Gahl John W. Gandy Rachel B. Gibbons Jeremy J. Gilbert Ronnie M. Givens Jonathan I. Godwin Roger T. Godwin Jr. Lindsay A. Gosnell

Henry D. Green III Mary E. Green Keith M. Guerry Barry D. Gumb Amanda T. Hallman Angela W. Hamilton John F. Hamilton Gary A. Harris Martha M. Hartley Larry W. Hartsell Sharon W. Harwell Alice B. Hazel Kathryn G. Heeney Robert M. Heil Ronald I. Hendrix Kenneth S. Higgenbotham J. C. Hincher Samuel G. Holtzclaw Paul K. Hooker Jr. Travis J. Hoverman Daniel B. Howard Donna K. Hudson Donald L. Hunter Harry A. Huntley Karen L. Hutton Steven L. Hyatt Leona L. Hydrick Caroline K. Inman Kelly N. Jewell Gary J. Johnson Harry L. Johnston Cristen Jones Harold W. Jones W. K. Jones Robert P. Jordan Michael R. Kelly Michael J. Kerscher James D. Kidd Erica J. Klostermeier Heather B. Koepenick Kathryn K. Kohara Douglas D. Kugley (888) 557-4814 | www.scacpa.org

Holly L. Kyle Carol C. Lawlor Paula J. Lawrence Elizabeth I. Leitner Carol M. Libby Jennifer M. Littrell Daniel E. Livengood Richard T. Livingston Michael W. Lowrance Craig R. Lundgren Roger F. Luttrell Cynthia J. MacAulay Glenn G. MacNeil Bobby T. Mardis O. C. Marsh Christopher S. Matthews Travis L. Matthews Susan B. McCracken Chris A. McCraw J. P. McDermott C. Stephen McDonald Ann A. McDuff Sheila C. McKinney Cindy L. McMaster Dana E. McMurry Farrell E. McTeer John D. Meachum Meriah J. Miksa James R. Miller Jr. David H. Mims Thomas P. Monahan William A. Moody Jr. C. Clarke Moore III Connie G. Morris Albert A. Munn IV Matthew F. Muse Robert J. Nagy James R. Newell L G. Newell Elizabeth W. Nichols Rachel M. Nightengale

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Gina S. Noble Stuart H. Nofsinger James M. O'Cain Benjamin D. O'Dell Dianne P. Odom Rudolph M. ONeal III Kimberly I. Owen Philip G. Palmer Clark B. Parker Ellen L. Patterson Frances J. Pearce Dr. Barbara G. Pierce Janet M. Pierce Leslie Platt Samuel H. Plexico III Sarah D. Pope Douglas E. Pounder Jeffery S. Powell Harold R. Pratt-Thomas Sabrina E. Preston Robert B. Privette Sandra S. Rabon Betsy M. Ragsdale Teresa M. Raines David M. Rainey Larry A. Ramsey Michael P. Ravan Charles M. Redfern III Laura D. Rippy G. Randy Rish Deborah M. Rose Meghan R. Rose Del A. Rosebrock Annette H. Ross Amy H. Rubin Scott D. Russell David W. Sage Paul S. Saltzman L. Kent Satterfield Charissa D. Saunders Gerald E. Saunders

Marc L. Saunders Michael W. Saunders Terry K. Schmoyer Jr. Allyson Schuster William E. Sellars Jr. James J. Sfiris Jennifer Shields Lauren A. Simms Nancy F. Simonetti Jennifer L. Smith Morgan E. Smith Philip R. Snipes Ralph M. Snow III Douglas A. Snyder Douglas A. Sparacino Andrew B. Sprenger Elizabeth M. Stalvey Amanda R. Stephenson Keon Stevenson Curtis C. Stewart JD Catherine B. Stoddard Leroy E. Strickland II Douglas E. Szubski George F. Taylor Jr. Gregory S. Taylor James F. Tenpas Judith C. Thomas Rudolph S. Thomas Michael D. Trammell Elizabeth A. Tucker Mrs. Nancy O. Upton Brian P. Vaxmonsky Dennis Vick John C. Von Lehe Jr. Katherine Walters Mark W. Webster Lisa T. Wechsler Susan O. Weesner Gary L. Wheeler Megan S. Williamson Patricia B. Wilson

Sarah L. Windham Kathy B. Wine Jacqueline C. Wirszyla Beth C. Wolfe Amy L. Wood Joy E. Wright Justin S. Yandle Patricia M. Yount Yulien Yuan Beth T. Zamorski

Supporter: up to $49 Dr. Charles G. Carpenter Joseph C. de Brux Alleen S. Ernst Dennis L. Gore Brian Gunther William D. Hardaway III Robert Holloman M. Timothy Hucks Robert M. Jones Joycelynn S. Knight Cheryl O. Lang Leigh A. Marks Leesa C. McRae Gregory R. Morgan Laurel S. Nason Natalie J. O'Bradovich Christopher A. Paris Dustin L. Pease Linda H. Richards Ruth A. Schult Ernest M. Sewell III Robert T. Theodore Nancy R. Waring

South Carolina CPA Report

21

Chapter Connections CALENDAR OF EVENTS CATAWBA

Dues: $60, includes discounted registration to CPE seminars and free family/networking event • May 23: A&A Update (8 hours, CA52312A) • Summer: Social • August 20: Professional Issues Update (4 hours) • September: Annual Business Meeting • October 25 : Annual Tax Update (8 hours) • Winter: Family/ Networking Event

CENTRAL

Dues: $50, includes discounted registration to CPE seminars, free Oyster Roast, Family Day and Business Meeting Dinner; invitation to Entertainment Night • February 24: Entertainment Night • May 21: Annual Golf Tournament • June 9: Annual Barbeque at the Zoo • June/July: CPE (8 hours) • August: CPE (8 hours) • September: Annual Business Meeting Dinner • October 9: Professional Issues Update (4 hours) • September/October: CPE (8 hours) • October: Annual Oyster Roast & Harvest Hope Food Bank Drive • November: Tax Update (8 hours)

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South Carolina CPA Report

COASTAL

Dues: $130, includes free registration to CPE seminars (additional registration fee for Tax Update) and free registration to family/ networking event • May 14: A&A Update (8 hours CO80812A)* • Fall: Student Night at College of Charleston Meet, greet and network with Accounting Students • September: Annual Business Meeting • September 24: Technology Update with Randy Johnston (6 hours) and Current Tax Update with Jason Sweatt (2 hours) • October 4: Professional Issues Update (4 hours) • October: Entertainment Night • November 8: Federal Tax Update with Jack Surgent (8 hours)

FOOTHILLS

Dues: $40, includes discounted registration to CPE seminars and three free social/networking events • April: After Tax Season Social/Student Night • May 22: A&A Update (8 hours, FO52212A) • September: Student Night • September: Annual Business Meeting • September 27: Professional Issues Update (4 hours) • October 24 : Annual Tax Update (8 hours) • December: Social Event

GRAND STRAND

Dues: $125, includes free registration to CPE seminars; Holiday Party and Student Recruitment Fair • May 9: Form 1099 Tips and IRS Cases (8 hours) • August 28: Professional Issues Update (4 hours) • September: Annual Business Meeting • September: Meet & Greet with CCU Accounting Students • November: A&A Update (8 hours) • December: Holiday Dinner/Social

PEE DEE

Dues: $50, includes discounted registration to CPE and free social events • March 15: Mid Tax Season Breather • May 8: Member Professional Night – Osborne’s • May 24: A&A Update (8 hours, PE52412A) • August 27: Professional Issues Update (4 hours) • September: Annual Business Meeting • November: Chapter/ Student Bowling Night • October 26: Annual Tax Update (8 hours)

PIEDMONT

Dues: $50, includes registration for CPE at a nominal fee and free holiday luncheon • April: Monthly Networking & Luncheon • May 16: YCPA Network Event • May 29: SCACPA A&A Update in Greenville • June: Monthly Networking & Luncheon • September 28: Professional Issues Update (4 hours) • October: Tax Update (8 hours) • September: Annual Business Meeting • December: Annual Holiday Charity Luncheon

SEA ISLAND

Dues: $135, includes free registration to CPE seminars and two special events, Tax Breather Social and Professionals’ Night • May 23: A&A Update (8 hours, SE52312A) • October 5: Professional Issues Update (4 hours) • September: Annual Business Meeting • October: Professional’s Night • October 29: Annual Tax Update (8 hours)

*SCACPA event co-sponsored by chapter.

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Board of Accountancy News

Second Quarter Report

by Mark T. Hobbs, CPA SCACPA member since 1981

T

he S.C. Board of Accountancy met in January and learned that the revisions to the proposed changes to the South Carolina Accountancy Act had not been introduced into the legislature.

The board had been informed in the fall of 2011 that the umbrella agency would have our legislation introduced. Needless to say, the board was caught off guard and was told to seek SCACPA’s assistance in getting the legislation introduced at the State House.

This put the board in a difficult decision. With the departure of LLR Director Catherine Templeton to lead the Department of Health and Environmental Control, we have been told that no LLR-related legislation could be successful in 2012. We had some very important changes in our accountancy law and the board had worked diligently to propose this legislation. We plan to hold our next meeting to discuss the board’s need to hire its own lobbyist to accomplish the necessary legislative change to allow us to protect the public in an efficient and effective manner.

By the time you receive this issue of the CPA Report, CPA Day at the State House will be have come and gone. The board is extremely excited about this year’s program and the fact that David Costello, CPA and former president of the National Association of State Board of Accountancy (NASBA) will be attending. He will also lead the New CPA Oath Ceremony. David has been a champion for public protection

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South Carolina Board of Accountancy Mailing Address PO Box 11329 Columbia, SC 29211

“A more pro-active Board of Accountancy should be aggressively pursuing opportunities to educate the public so they can be protected from future risks in the market place.” and I think we will all benefit from his message. NASBA recently issued a “white paper” which outlines how State Boards of Accountancy can benefit from operating in a semi-independent status outside of an umbrella agency.

As I reflect on the mission of the Board of Accountancy to protect the public I wonder if the board has communicated the importance to the public of audit and accounting standards. One specific case has the notoriety of being the largest financial scandal in the history of South Carolina. The “Palmetto Enron” is known by us as “Home Gold.” The approximate $ 280 million loss is the largest loss from fraud in South Carolina’s history. The auditors’ opinions on the financial statements were appropriate and indicated that a “going concern” issue was present.

The citizens of South Carolina did not understand the reports and therefore continued to invest and ultimately lose money. A more pro-active Board of Accountancy should be aggressively pursuing opportunities to educate

Telephone: (803) 896-4770 Fax: (803) 896-4554

the public so they can be protected from future risks in the market place.

I realize that historically the Board of Accountancy has not accepted such a challenge. If we fail to be proactive with communicating accounting information to the public aren’t we, the regulator, in actuality part of the problem? With that being said, change is difficult and the road less traveled is often filled with unexpected challenges and obstacles.

I believe the board needs to take a more aggressive stance toward protecting the public through a three pronged approach which includes:

u Increased communication to the audiences we serve v Expanded education to the public of the roles and responsibilities of accountants w Continued development of a peer review oversight program to assure that licensees are conforming to professional standards.

Hopefully the road less traveled will result in greater protection to the citizens of South Carolina. n

Mark Hobbs, CPA, is the managing partner of The Hobbs Group, PA in Columbia. A past president of SCACPA, Mark currently serves on SCACPA’s Investment Committee as well as the Long Range Planning Task Force and the Women to Watch Awards Task Force.

He may be reached at mark@hobbscpa.com.

South Carolina CPA Report

23

Focus on Membership Member News Doug Hayes, CPA, has joined Elliottt Davis, LLC as senior manager in its tax practice. He will share his time between the firm’s Greenville, S.C. and Charlotte, N.C. offices.

Career intelligence website Vault.com has named Grant Thornton number one in its annual survey Best Accounting Firms to Work For and number three in Diversity for Women.

Stacey Hollings, CPA, has joined WebsterRogers as a senior tax accountant in the Summerville and Charleston offices.

Gregory M. Alexander, CPA, has merged his practice with Moore Beauston & Woodham L.L.P. and currently serves as the tax partner in the Hartsville office.

Firm News

Grant Thornton, LLP, a leading global audit, tax and advisory services firm serving South Carolina, has been honored once again for its strong reputation, enviable culture and marketleading human resources programs.

In the News

James M. “Jim” Manley, Jr., CPA, Greenwood, has been named the U.S. Small Business Administration’s 2012 South Carolina Financial Services Champion of the Year. Manley is a

Welcome New Members

Associate

Katherine E. Dowdy Lexington, SC

Rebekah K. Manci Charleston, SC

Brian D. Bowen, CPA Irmo, SC

Annelle M. Stone, CPA North Augusta, SC

Andrew J. Duggan Charleston, SC

Craig Miller Lexington, SC

Michael C. Cipriano, CPA, Ph.D Charleston, SC

Austin W. Stone, CPA Williamston, SC

Ashley Durand Charleston, SC

Mary Ann D. Twohig, CPA Charleston, SC

Samuel C. Giddens Simpsonville, SC

Jeffrey N. Walker, CPA Greenville, SC

Kathy E. King Waxhaw, NC

Kyle P. Waltz, CPA Simpsonville, SC

Martin J. McClellan Columbia, SC

Joseph F. Warther, CPA Myrtle Beach, SC

Bryan Peake Columbia, SC

Firm Admin

Antonia L. Rossi Charleston, SC

Bradley D. Ebenhoeh, CPA Charleston, SC

Affiliate

Gail S. Mobley Hartsville, SC Jennifer M. Sigley Mount Pleasant, SC

CPA Candidate Chelsea S. Brown Anderson, SC

Steven S. Davitte, Jr. Columbia, SC Alan J. Doak Mount Pleasant, SC Camron T. Faulkner Columbia, SC William D. Hardaway, III Florence, SC

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Thomas P. Self, CPA Greenville, SC

Justina Kelly Irmo, SC

Charlie E. Johnson Hartsville, SC

South Carolina CPA Report

Pam Turner, CPA, and professor at the Francis Marion University School of Business will teach a three week money management workshop series series titled Take Control of Your Money at the Drs. Bruce & Lee Foundation Library in Florence. n

Timothy W. Black, CPA Easley, SC

Sheri M. Cooper, CPA Charleston, SC

Stacey L. Goodmen Summerville, SC

Fellow Member

shareholder with Elliott Davis, LLC, where he heads its Greenwood office’s accounting resources practice. The Financial Services Champion award honors an individual who assists small businesses through efforts to increase the usefulness and availability of accounting or financial services.

Thomas E. Milligan, III North Charleston, SC Mary K. Shuler Columbia, SC Christine L. Strople Mount Pleasant, SC Caroline E. Sydow Charleston, SC Laura B. Varn Charleston, SC Patricia A. Walker Mount Pleasant, SC Erin C. Winter Charleston, SC Travis B. Woods Bluffton, SC

Andrew J. Dietrich, CPA Greer, SC William R. Hickman, CPA Statesboro, GA Derek G. Hipp, CPA Columbia, SC Sandra A. Kemper, CPA Mount Pleasant, SC David W. Kirby, CPA Greenville, SC Kenneth D. Lewis, CPA Columbia, SC Aihua McCall, CPA Columbia, SC

Sandra L. Hunter Hardeeville, SC

Student

Elizabeth Brasington Columbia, SC

Elizabeth A. Morton, CPA Greenville, SC

James Y. Cargile Charleston, SC

Joseph B. Poore, CPA Taylors, SC

Kayla D. Corn Greer, SC

Catherine A. Opalka Clemson, SC Cortney G. Scott Central, SC Tim Sharpe Charleston, SC

** As of March 29, 2012

(888) 557-4814 | www.scacpa.org

Rosenberg Graduates Young CPA Upcoming Events from YCPA Cabinet

D

avid R. Rosenberg, CPA, recently graduated from SCACPA’s Young CPA Leadership Cabinet joining a select group of young professionals who have completed the three-year program.

A SCACPA member since 2006, David is the owner of David R. Rosenberg, CPA, LLC in Greenville and currently serves on the CPE Committee.

Launched in 2008, the cabinet prepares young professionals, 35 years of age and younger, for positions of leadership in the profession, the association, the community and the world.

Acceptance into the cabinet is through an application process with an average of 20 members rotating from year to year. n

2012 Emerging Leaders Conference: August 16-17, 2012 Columbia, South Carolina. Sessions include AICPA Top 10 Technologies, SC Tax Update, A&A Update Excel Tips & Tricks and more! Networking details to come. *Conference registration open to all SCACPA members and nonmembers. Members of the YCPA Network receive a $20 discount!

Piedmont (Sponsored by the Piedmont Chapter): Networking with the SC Bar Young Lawyers and SC Bankers’ Association Young Bankers, May 16, 2012 5:308:30 p.m., FREE, Listen to Russell Stall from Greenville Forward describe the future of Greenville. Beverages, appetizers and good times provided.* Coastal: Sponsored by the Coastal Chapter of SCACPA, Dixon Hughes Goodman LLP, YLD and Carlock, Copeland & Stair, LLP, join the SC Bar Young Lawyers Division and SCACPA's Young CPAs Network for 2 hours CPE and a networking reception on June 21, 2012. Speakers include Richard Livingston and Joe Kingma.* Charleston: In conjunction with YCPA Cabinet Community Service day. *Attendees must be members of the YCPA Network.

Join more than 60 of your fellow young CPAs. Register for the YCPA Network today! www.scacpa.org/ youngcpanetwork

p Pictured above: David Rosenberg, CPA, (at left) lends a hand at Project Host in Greenville.

Staff contact: Emily Russell

ABOUT THE YOUNG CPAs

T

he South Carolina Association of Certified Public Accountants (SCACPA) created the Young CPAs Leadership Cabinet to prepare young professionals for positions of leadership in the profession, the association, the community and the world. As young staff embark on their CPA career path, the Leadership Cabinet offers an enriching environment where participants learn new skills, access resources and shape ideas for the future. This unique two-year program combines in-person meetings, the opportunity to interact with CPAs across the state, and online shared experiences. Young CPAs can request an application from scacpa@scacpa.org or by calling (888) 557-4814. The application deadline is December 31 each year.

(888) 557-4814 | www.scacpa.org

South Carolina CPA Report

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Work Life Balance - You Must Create It!

by Katey M. Budzynski, MPH

I

f you are feeling overworked, overwhelmed, and finding it more challenging than ever to juggle the responsibilities of work and home life, you are not alone. Life today is very different than 20 years ago. Growth and advances in technology has completely transformed our world as we know it. We are living in virtual, high speed, always accessible times.

While this is great for productivity and economic growth it may be the cause of our personal and professional downfall if we don’t manage a proper balance.

Remember the days when you left the office or the worksite at the end of the day and it was time to move on to your personal life? Our homes had a land line phone and possibly a computer, if you were “high tech” but it was “dial up.” There were no faxes, cell phones, or high speed connections. You were able to disengage from the job most of the

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South Carolina CPA Report

“Remember the days when you left the office or the worksite at the end of the day and it was time to move on to your personal life?” time. The same scenario was true when you left your home to go work out, visit or go shopping. You had mental downtime as you left behind your home or work and went about your tasks or adventure with no cell phone connected to your ear. We weren’t in a constant state of multi tasking.

We had the simple luxury of leisure time. Those days are long gone. The walls and roof of our homes no longer protect us from constant engagement.

We are always “connectected.” All of today’s upgrades and conveniences can actually have a negative affect on our

physical and mental health. Some of the consequences of poor work life balance include fatigue, anxiety and stress disorders, lost time with friends and family, increased expectations on the job, weight gain and a general dissatisfaction with life.

Do not despair. If you can relate to this information, you can also evaluate your current situation. There is always an opportunity for change.

How can we reclaim control in our lives and beat potential burnout? Read on to see how a little restructuring in your life can go a long way!

1. Be Proactive with Scheduling – Building downtime into your schedule is a must. We all know how easy it is to get caught up in the continuous cycle of busy work. Plan your days and week ahead, make a point to actually schedule time with your families and friends and activities that help you recharge.

(888) 557-4814 | www.scacpa.org

2. Reduce or Remove Activities that Zap Your Energy or Time – Many people tend to waste their time on people or activities that add no value to their lives. The office mate or friend who tends to drop the weight of their world on your shoulders, the office gossiper, the complaining neighbor. These folks will never enhance your career or personal life and frankly they are an emotional drain to the system. Try to steer clear of these personality types or minimize the time you allow them to take from you.

3. It’s OK to Say “No” – Whether it is a co-worker asking you to spearhead an extra project, a friend asking for your professional advice, the sports team putting the pressure on to lead the fundraiser because you are the organized parent etc. If you are a leader or a take charge person, people notice. By respectfully saying no to the activities you truly don’t have time for, or that you don’t enjoy, you will allow

yourself more meaningful time for the obligations you can and should commit to.

4. Get Moving – Exercise tends to get lost in the shuffle when our schedule is jam packed. We find it hard to justify working out when there is just too much to do, but experts tell us that it may ultimately help us get more done by boosting our energy level and our ability to concentrate. Try a little test on yourself. The next time you are sitting at your desk fatigued, or frustrated, get up and take a brisk 10 minute walk.

Evaluate your state of mind when you get back. Most likely you will be more alert and productive.

5. Remember Life is a Marathon not a Sprint – Try not to get overwhelmed thinking you need to make so many changes tomorrow. A little goes a long way. Bring balance to your life by focusing on the important things each day. Slowly build in the

activities that are more meaningful to you, readjust your schedule when it is realistic and remember to take care of yourself.

6. Don’t Be Afraid to Seek Professional Help – We all need help with something from time to time. We visit our primary care physician to keep our bodies healthy; we seek advice from an attorney on legal issues. Our mental health is equally as important.

Find out if your employer offers an Employee Assistance Program (EAP).

Many times it is part of your benefit package and offers a variety of options for employees. You don’t have to wait for a crisis situation to find out about your EAP. Ask about it today so you will be prepared to take advantage of the services if and when you need them. n

Katey M. Budzynski, MPH is an Employee Benefits and Wellness Consultant with Southeastern Insurance Consultants.

At ADP® we understand that every practice is different – that’s why we offer accountants many options. � Refer your clients to ADP – You will continue to provide them with trusted advisory and consulting services while ADP expertly

manages their payroll and more. � Let ADP process your clients’ payroll for you – RUN Powered by ADP Payroll for Accountants® is specifically designed to help

accountants more efficiently process their clients’ payroll. This powerful online application allows you to offer your clients additional value and services that can help increase client retention, help keep them compliant, and provide your firm with a new source of revenue. � Sell your payroll base to ADP – Put your payroll clients in experienced hands while providing

you the opportunity to generate capital and free up time to focus on building your practice. � Earn Rewards or Share Revenue for Referring Your Clients – ADP’s Referral Rewards

and Revenue Share Incentive programs offer you the chance to earn points towards valuable gifts or earn revenue for your firm, while providing value-added payroll and HR solutions to your clients.

Call 864.286.5300 today!

accountant.adp.com

The ADP logo and ADP are registered trademarks and RUN Powered by ADP Payroll for Accountants is a registered service mark, of ADP, Inc. In the Business of Your Success is a service mark of ADP, Inc. ©2011 ADP, Inc.

Options SCCPA 1 (888)Half.indd 557-4814

| www.scacpa.org

HR. Payroll. Benefits.

12/14/11 South Carolina CPA Report

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10:02 AM

CHOOSE A DIRECTION AND GROW! CPAs are among the most widely recognized and highly trusted professionals in the business world. Maintain the value and strength of your CPA credential with high quality CPE programs from SCACPA – the most trusted provider of CPE in South Carolina.

SCACPA is your full service, one-stop shop for high quality CPE. The CPE schedule highlights SCACPA’s more than 500 CPE opportunities; seminars, conferences, webinars, self-study, webcasts; for 2012 . Accounting professionals in public practice, corporate, government and education turn to SCACPA for a wide range of CPE options that are designed to fit their schedule, budget, format preferences, and knowledge needs.

To learn more about all these options visit www.scacpa.org.

CONFERENCES SCACPA offers eight conferences that feature a combination of keynote presentations, general sessions and multiple tracks with break-out sessions allowing flexibility and topic selections that meet your specific needs. These events deliver valuable information about industry trends and developments from qualified and entertaining presenters.

ONLINE Webinars and Webcasts are growing as a source of CPE credit among our members.

It doesn’t get any more convenient than this! Live, group-study webinars are taken right at your home or office computer.

And you won’t miss a beat - you’ll still benefit from live interaction with an instructor and through the ability to ask questions during the presentation! Join the thousands of CPAs across the country

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South Carolina CPA Report

who have taken advantage of this easy and convenient format! Learn more about this option at www.scacpa.org/ webinars or search the online catalog at www.scacpa.org/coursecatalog, and check the webinars box or contact the SCACPA office to receive a catalog at 888-557-4814, ext. 110.

ONSITE Balancing cost-effectiveness with the need to get relevant training in today's fast-paced business environment can be challenging. The South Carolina Association of CPAs offers an effective solution delivering high-quality training to you when and where you want it. Visit www.scacpa.org/ onsitetraining for more information or contact Reva Brennan at (888) 5574814, ext. 103 or rbrennan@scacpa.org to discuss your needs.

SELF-STUDY SCACPA has partnered with Smart Pros to offer The Continuing Professional Education Center, and with Surgent to offer the Essential CPE Collection. These companies offer hundreds of course titles and thousands of hours of accredited CPE. There are several subscriptions to choose from with a compelling collection of courses in accounting and auditing, taxation, management, personal development and more. For more details, or to purchase, visit www.scacpa.org/ selfstudy.

SEMINARS Seminars are educational events that feature one or more subject matters with experts delivering information primarily via lecture and discussion. This year’s line-up features a variety of topics across the state.

(888) 557-4814 | www.scacpa.org

Focus On CPE

Courses You Don’t Want to Miss!

JUNE 6

Audits of Defined Contribution Pension Plans - Emphasizing 401k Plans (81312) Learn how to avoid the most common problems and deficiencies found by the DOL. Discuss how to determine if a plan needs to be audited, identify unique employee benefit plan audit risks, perform the right type and amount of audit testing, and draft GAAP and DOL compliant financial statements.

JUNE 12

10 Steps to a Digital Accounting Practice (81612) This course is designed to provide CPAs with a comprehensive roadmap for transforming an accounting, tax or financial practice to a digital model that will result in better client service and increased profitability. One of the biggest challenges that practitioners face today is knowing what technology solutions they should invest in and how to go about it. This course will answer both of those questions for you and your practice. We will address all aspects of the information technology model; infrastructure, software applications, workflow design and more. This course will pay for itself many times over by teaching how to make the best IT investment decisions for your practice.

JUNE 21

GAAP Refresher (81812) Get your arms around those complex GAAP rules most likely to result in financial statement restatements. You will be provided with clear, concise, realistic examples of financial instruments, fair value, deferred taxes and uncertain tax positions, leases, derivatives, impairments and other "troublesome issues."

(888) 557-4814 | www.scacpa.org

JULY 11

Strategic Planning: A Simplified and Workable Approach for Private Companies (82012A) Welcome to a strategic planning course that helps company managers achieve operational and financial goals. Learn a simplified and workable approach to creating, implementing, monitoring and revising strategies to promote greater company success. This course is packed with useful tips and how-to guidance that can be applied immediately. Walk through the major, strategic-management steps to run an organization.

Explore issues related to overall strategic management, the business plan, the strategic plan, budgeting, corporate culture, review and monitoring of performance. Learn about a full range of techniques from simpleto complex-planning models.

JULY 16

Strategies and Tactics in the New War Against Higher Individual Taxes (82312) President Barack Obama's budget proposal is calling for significantly higher taxes for 2013. This is in addition to the repeal of the so-called Bush tax cuts. Even if a Republican Congress is elected in November, taxes will go up.

The year 2012 is possibly one of the most important tax planning years for wealthy clients and closely-held business owners.

Clients need to know what they can still do now before the tax law changes, as well as what they can do to take advantage of the future tax environment.

TIME TO REFRESH

L

ife is full of challenges and demands.

You’re taxed and strained and your energy levels just cannot deliver.

Refresh yourself by escaping the ordinary!

Attend a 2012 CPE cluster and stimulate your brain with informative educational seminars. Afterwards, enjoy the beach or play golf on Hilton Head Island or shop and eat at local restaurants in beautiful downtown Charleston.

When your break from the ordinary is over, you will be ready to return to the office refreshed and ready to tackle your next big challenge. Plus, not only will you have earned some CPE you will also have gained some energy to make it through the remainder of the year.

Lowcountry Cluster July 16-18, 2012 Hilton Head Marriott Resort and Spa One Hotel Circle, Hilton Head Island, SC, 29228 888-511-5086

Coastal Cluster August 13-15, 2012 Francis Marion Hotel 387 King Street Charleston, SC, 29403 877-756-2121 For hotel rates, seminar details and secure online registration visit www.scacpa.org/ clusters today!

South Carolina CPA Report

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Focus on CPE 2012 Conference Dates Emerging Leaders Conference August 16-17, Marriott - Columbia Women in Leadership Conference October 18, Embassy Suites - Columbia

NEW EVENT! MEGA CONFERENCE May 17-18, Marriott Columbia City Center The Mega Conference is a grand design with expanded learning opportunities in three areas: benefit plans, government, and nonprofit.

Connect with your peers in an environment where you can examine, discuss and explore new ideas and approaches you can implement back at the office. Take advantage of attending two days or one day. The conference features sessions to meet the eight hour education requirement in benefit plans and Yellow Book.

The Mega Conference is also designed for nonprofit professionals and board members. Invite your clients to join us for day two only and attend the sessions designed specifically for nonprofit organizations. www.scacpa.org/mega.

Personal Financial Planning Conference October 23, SCACPA Office - West Columbia

Governmental Bonus Workshop November 13, Columbia Conference Center - Columbia

Annual Summit (combined with Tax & Technology) November 1-2, Columbia Metro Convention Center

Accounting & Auditing Conference December 6-7, Marriott - Charleston

CPAs IN BUSINESS & INDUSTRY CONFERENCE NEW DATE! May 21-22 Columbia Metropolitan Convention Center

ANNOUNCEMENT: CPE IS GOING PAPERLESS!

To meet the needs of CPAs in business and industry, this conference is being held in May instead of October. Make plans to join the regular 150 attendees who have attended in the past on these new spring dates.

This conference offers topics geared specifically to your corporate career in general and breakout session formats.

There are topics that are vital to CPAs in business and industry. Hear the latest on the economic outlook, learn about assertive communication power that gets results, discover how to open doors to buy-in during trying budgetary times, leverage the newest global designation designed specifically for you - the Chartered Global Management Accountant, increase productivity with advanced Microsoft tips and tricks. Plus, fine tune your knowledge on HR benefits, health care, tax, technology, IFRS and much, much more. www.scacpa.org/B&I

Classified LOCAL FOCUS - PERSONAL SERVICE The focus of our firm is only on CPA and Accounting practices in the Carolina’s and Southern Virginia. This allows us The Carolinas’ Resource the time to understand local issues for Accounting Practice Sales and opportunities and enables us to be close enough to provide personal service. Our purpose is to help owners decide if and when they should sell or transition out of their practice. As part of the process, we help them develop and implement a plan to maximize the firm’s value and address any concerns about transitioning to a new owner. This allows us to offer buyers firms with demonstrated value and a plan to sustain that value through the transition. To learn more, visit www.stratfordconsultinggroup.com or call Bill Britt @ 866-768-0089.

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South Carolina CPA Report

We are reducing the amount of paper used at our conferences and seminars.

While this is a change to our process, SCACPA is still committed to providing a high-quality learning experience. All conference materials will be provided in electronic (PDF) format only, and designated seminars have the option of electronic materials.

Materials are available online at www. scacpa.org approximately three days before the event. Download the materials to your laptop or tablet, and then bring them to the conference. Charging stations are provided during the events to keep your devices charged.

For more information or questions, please contact SCACPA at 888-557-4814 ext. 110 or 112.

ADVERTISER INDEX Accounting Practice Sales www.accountingpracticesales.com | Inside Back Cover ADP accountant.ADP.com | Page 27 Aon/BB&T Insurance Services/AICPA Professional Liability Insurance Program www.cpai.com | Page 9 American Pensions www.ampen.com | Inside Front Cover Blytheco www.blytheco.com | Back Cover Camico www.camico.com | Page 10 CGMA www.cgma.org | Page 17 John F. Hamilton, CPA JOHNFH@aol.com | Page 25 Southeastern Insurance Consultants, LLC www.sicconsultants.com | Page 9

(888) 557-4814 | www.scacpa.org

an affiliate of accounting practice sales north america’s leader in practice sales

need a hand? our experience and nationwide connections make all the difference in the world when it’s time to buy or sell your practice. featured sc opportunities: charleston – $220,000 north columbia – $530,000 the midlands – $150,000

register to win an ipad® We are giving away a brand new iPad to celebrate our eBook that will be available exclusively through the AICPA this summer!

Please visit our team’s website to register

www.PoeGroupAdvisors.com (registration is easy but ends July 1, 2012)

now available – accountant’s flight plan Using real-world scenarios, practice owner testimonials, and written exercises, CPA and author Brannon Poe offers keen insights for developing customized, straightforward approaches to hone your focus, eliminate frustration, grow your bottom line, and achieve meaningful work-life balance while increasing profitability. www.poegroupadvisors.com/our-book/ for more information

BRANNON POE, CPA | 1.888.246.0974 | BPOE@POEGROUPADVISORS.COM Poe Group Advisors is an independent affiliate of

South Carolina Association of CPAs

570 Chris Drive, West Columbia, SC 29169

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

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