JANUARY 2020
THE
JOURNAL ENTRY The Origins of Utah's CPAs
Reflecting on the early years of the association
uacpa.org
Mission,Vision,Values Mission The UACPA leadership supports and challenges members through advocacy, professional education, leadership development, networking, and community service to help them succeed in a competitive and changing world.
ExecutiveBoard
president.........................................................Monica Gardner president-elect.......................................... Jay Niederhauser vice president..................................................... Stacy Weight treasurer......................................................Jason Tomlinson secretary............................................................ Troy Runnells member-at-large.................................................. Nate Staheli member-at-large................................................ Tom Colligan
Vision
pronet council................................................ Katie Chandler
At the UACPA, our vision is to be a world-class professional association essential to our members.
aicpa council................................................... Brandon Allfrey
We unite a vibrant community of CPAs to enhance the success of our members and champion the values of the profession; integrity, competency, and objectivity.
immediate past president......................................Matt Klein ceo.......................................................................... Susan Speirs
UACPAStaff
ceo.......................................................................... Susan Speirs
Values
communications/marketing and
Advocacy
cpe manager.......................................................April Deneault
The UACPA represents the profession at the legislature and other regulatory bodies and promotes the value of the CPA to employers, the business community, and the public at large.
editor of the journal entry......................... Amy Spencer financial director...................................................Tom Horn membership development................................Tyler Hodges
Leadership & Service The UACPA provides leadership and service within the profession, within the UACPA, and within the community.
Professional Development The UACPA supports and encourages continuing education and leadership development.
Professional Community The UACPA reinforces peer accountability to encourage members to maintain integrity and high ethical standards. ​​It provides member-to-member networking opportunities and networking opportunities with other professions. It values belonging to a distinguished organization and believes that we serve as the primary resource and point of contact for Utah CPAs.
Diverse Population Outreach The UACPA believes in reaching out to under-represented populations, those returning to the profession or choosing it as a second career, and other professions.
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The Journal Entry is published quarterly by the UACPA 136 S. Main Street, Suite 510 Salt Lake City, UT 84101 phone: 801-466-8022 toll-free in Utah: 1-800-676-2776 email: mail@uacpa.org web: www.uacpa.org
UACPA Statement of Policy CPAs have common problems and interests. This magazine has been created to share information relating to the practice of accounting. The opinions, views and articles expressed in this magazine are not necessarily those of the Utah Association of Certified Public Accountants. This magazine should not be deemed an endorsement by the UACPA or its committees or editorial staff of any views, opinions or positions contained herein. Because of the complexity of tax laws and accounting transactions and the changing status of the law, as well as variations in practices and procedures among accountants, information in the magazine should not be used, acted or relied upon, as a substitute for independent accounting or legal research and advice.
Contents January 2020
New Members.......................................................................................... 4
Feature Story
Movers & Shakers................................................................................... 5
The First 75 Years of the UACPA
CEO's Message........................................................................................ 6 President's Message............................................................................... 7 Accounting for the Ages........................................................................ 8
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By the Numbers
The Early Years of the Association James S. Bean, Jr., CPA
Events to Celebrate 100 Years............................................................ 16 By the Numbers: The Early Years of the UACPA............................. 17 Gaining Skills at Leadership Academy ............................................. 18 Utah CPA Foundation Survey Results............................................... 22 Legislative Update................................................................................. 24
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Meet a Member
The World in 1920 ................................................................................ 12
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Protecting Senior Clients From Financial Abuse............................. 26 Women in Accounting: Teri Paskvan, CPA....................................... 28 Meet a Member: James S. Bean, Jr., CPA......................................... 30 Meet the Executive Board.................................................................... 32 Board Bullets ......................................................................................... 33 Meet the UACPA Staff........................................................................... 33
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Photos: Winter Conference.................................................................. 34 Comic: Generally Excepted.................................................................. 37 Member Benefits/100% Membership Firms.................................... 38 Contact List/Classifieds....................................................................... 39
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NEW MEMBERS Congratulations to the following individuals who were approved for membership or affiliate status in the UACPA as of Nov. 30, 2019. Melody Rasmussen Daniel Applegarth State of Utah Heath Armstrong Protiviti Lynn Dixon University of Utah Tyson Hemphill Davis & Bott, CPAs, L.C. Hillary Carlson Haynie & Company Melissa Myers PwC Harmony Bateman PwC Bradley Fry PwC Naoni McCurdy Annie Liu self employed
William Pedersen Davis & Bott, CPAs, L.C. Teejay Millar KOPFC Mark Short Housing Authority of Salt Lake Jeremy Curtis Auric Energy Tammy Bills SHC Holdco, Inc. David Fisher KPMG Justin Mangone Harmon City Inc.
STUDENTS
Brigham Young University Kurtis Murray Kara Bowers Daniel Case Autumn Zobrist Trang Ta
Kyle Costner Wasatch Electric
Dixie State University Grayson Tracy Weston Zimmerman Tamianna Vollrath Sarah Ence
Colton Hall PwC
Idaho State Univ-Pocatello Josh Egbert
Michael Law Michael Law CPA
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University of Utah Weston McCloy Sierra Hart Minerva Saucedo Spencer Williams Cassandra Carvajal Faalenuu Akeripa Jennifer Yakumo Christian Camarillo Louis Stanley Patrick Wunderlich Dylan Boren G Theo Perkins Alan Aguirre Charles Michaels Brittany Akeripa Isaac Campbell Garrett Skirvin Caitlin Lange Tristen Bracken Utah Valley University Jessica Peters Ty Johnson Tanner Casper Hailey Newman Tanner Moss Xiaojie McDonald Samuel Goodrich Dan Watson Caleb Stephens Addison Brems Daniel Sroka Angel Guerra Stan Dalton Arlen Card Alleen Evanko Kylee Woodbrey Michelle Tukuafu Jordan Raab
Parker Menlove Cindy Roe Oskar Cottam Merrill Burnham Sam Young Mallory Moon Weber State University Landon Farnsworth Matthew Daines Austin Perkes Skyler Daines Alysja Call Bret Dayley Mandy Martinez Trey Higgins Ambrie South Naheed Davis Devyn Vigil Ashlee Dillon Paul Bunderson Western Governors Ana Hernandez Cristina Venturinelli Kelly Williams Seth Davis Donna Helmig Darren Green Brandon Cole Jonathan Pavy Beckie Frazier Alexander Beck Brenda Reynolds Jenna Bennett Philip Dobrosky Matthew Tracy Michelle Johnson Donna Lindenmayer Alexa Ivie
Asa Tuiaki Briana Costa Jacquelyn Wright Jennifer Donofiro Kristen Jordan J. Scott Morrison Whitney Black Karla Brooks Stephanie Haun Misty Pacheco Stacy Mumpower Anthony Esposito Justin Bromberg Nelida Ramos Christy Dohrman Kecia Howell Kimberly Lewis Thomas Rowell-Bryant Virginia Daniel Elizabeth Newport Nataly Ayala Galvan Michelle McArthur Niki Van Valkenburg McKenzie Rowley Holly McGraw Matthew Roberts Pamela Murphy Camisha Brave Garrett Hill Ken McBride Amanda Johnson Rafiq Perry Kim Valentine Sarah Ellis Heidi Cunningham Brittany McClellan Matthew Thomas Angela Gurley Brandi Burd Alex Wankier Molina Cheek Shelby Milliren Mark Warren Kimberlyn Scott
Jamie Stevenson Kate Miller Angela Beall Dane Vigen Stephanie Vincent Westminster College Samantha Steffensen Elena Peden Jabir Nasir Hayley Smith Hannah Anderl Matthew Komperda Nadia Shah Amber Lamborn Keith Turner School Not Indicated Ernest Strain Joseph Kent Reed Garside Kaycee Mortensen Barnaby Evans Jeff Johnson Ruchika Joshi Hayden Christensen Stephen Ryan Brian Prettyman John Holahan Luz Castro Joshua Dustin Jeffrey Johnson Rachel Withers Joshua Clark Bransen Bradshaw
MOVERS & SHAKERS Tanner LLC is pleased to announce that the company's senior strategy consultant, Mackey Smith, has been recognized as one of Utah Business Magazine's "20 in their 20s" feature. As a popular leadership coach Mackey Smith and consultant, Mackey has facilitated more than 50 focus groups and leadership retreats. Squire has announced that four of their tenured partners will be taking on new leadership roles at the firm. Audit specialist Amanda Barrett-Brough and tax expert Brandon Allfrey have accepted the positions of Practice area leaders over their respective areas of expertise for the entire firm. Also taking on new roles, Greg Hyde will be the Salt Lake City tax lead and Danny Barlow will be the Salt Lake City audit lead. The four partners will dedicate their expertise as area leaders in their practice areas with a focus on growth opportunities, team development and client service. Haynie & Company has announced the acquisition of eight CPA firms as of December 1. This growth has led them to expanding into Arizona. The firms joining Haynie & Company include Duskin & Duskin CPAs, LTD (Phoenix, AZ); James E. Raferty, CPA PC (Mesa, AZ); Lorie D. Blum, CPA, PC (Sun Lakes, AZ); Schneider & Associate, CPAs (Phoenix, AZ); Guest, Schutte & Cosper, CPAs, LLP (Flagstaff, AZ); KM Larson & Company, CPAs, PC (Draper, UT), HalesBradford, LLP (Brownsville, TX) and W. Hamilton & Co., PLLC (Austin TX). As a result of these mergers, there are now more than 250 Haynie & Company employees across five states.
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CEO'S MESSAGE
Susan Speirs, CPA
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hat does 2020 mean to you?
If you’re a numerologist, 2020 resonates with conscientiousness, pragmatism, teamwork and an infinite amount of potential. The energy represented by the number 2020 has a resonance of focus and relationships. If you’re interested in mythology, 2020 symbolizes faith and trust in relationships. Perhaps you have 20/20 vision. That means you meet the minimum requirement to fly an airplane or that you can read the stock quotes without readers. Or could it mean that you have a perfect vision of where your organization is going? For many of us, 2020 begins a new decade filled with hope and newly set goals. For the UACPA, 2020 begins a new century. The UACPA will turn 100 on July 8! Over the next 12 months, we will be weaving centennial celebration events between year-end closes, tax season, university events, ongoing advocacy negotiations and life in general.
Is there any better year to celebrate CPAs? If we continue to look at affinity numerology, I would pose that the numerologists have described the people of our profession rather than a defined set of digits. Many have posed that 2020 is adequately equipped to focus on the details of the steps required to accomplish specific goals. It is compatible with the idea of teamwork and accomplishing tasks in a more efficient manner and building a secure foundation. Who does this describe better than CPAs? Over the last year and continuing into 2020, we have taken to heart the importance of teamwork as we’ve worked with our members. Members have been an integral part of the teamwork equation as we’ve collaborated and negotiated with legislators on tax reform. You came to our aid in March as we rolled out a grassroots initiative to kill a bill aimed at taxing everything, 6
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and again as we negotiated and gave input a tax bill that passed in a special legislative session in December. We were successful in leaving an initiative on tax professional services out of the bill. Members are coming together again to work as a team and secure a foundation as we navigate enterprise zone credits, what they are, who should be able to receive them and potential economic impacts to parts of our state still struggling from The Great Recession if the credits are taken away. In 2020, we will continue to be a necessary part of many conversations surrounding our profession. CPA Evolution is marching forward at breakneck speed. The need for CPAs in our state continues to grow and our CPAs continue to need resources to help them be the best they can be professionally and otherwise. Our goal is to be able to continue to approach the challenges with pragmatism, teamwork and conscientiousness with an infinite amount of energy and 2020 vision. Along the way, we invite you to celebrate the CPA profession and 100 years of the UACPA! n
PRESIDENT'S MESSAGE
Monica Gardner, CPA
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ow – what a year! As one year ends and another begins, it is a great time to reflect on the past and think about the future. As I was leaving the UACPA office the other day, I grabbed a Dove chocolate, and the message inside the wrapper read, “Always make your past self jealous.” I thought it was fitting, and I like to think my past self is jealous of all that has happened this year. My theme for the year was engagement — particularly engagement for success. This year has been a great example of that. The UACPA has been working hard for you, and many of you have been working hard with us. We have seen success because of your work. THANK YOU! We have had great member involvement with the tax reform and restructuring town hall meetings. While there is still some work to be done, as of right now, professional services have been carved out of the services that will be taxed. There has also been great participation and insight with the enterprise zone credit issues. Nothing has been finalized, but at least we are on the path to keep the credits and work to improve the filing and reporting rather than doing away with the credits completely, which was the original plan. We have received feedback from Leadership Council that has been passed along to the AICPA, and they seem to be listening. The above are some examples of members being engaged and seeing successful results. Looking ahead, I am excited to celebrate 100 years of the UACPA. Please help us continue the success that comes from engagement and participate with us as we celebrate this great milestone. Not many things make it to 100, so it is worth celebrating. It will be great to have everyone come together for our week of service in May, the week of celebration in July, the Bees night and charity
golf tournament in August and the centennial gala in September. I want to make sure I give a big thanks to the UACPA staff — Amy, April, Tyler and Tom. They all do a great job keeping the organization going, helping us connect and keeping us informed and educated. Thanks to Susan for her tireless efforts and travels as she is involved with and genuinely cares about our membership. And thanks to all the members. We are here for you and because of you. Without you there would not be the UACPA, or as was pointed out in the October issue, the YOU-ACPA. So, thank you for a successful year! n
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ACCOUNTING FOR THE AGES The humble beginnings of the Utah Association of CPAs As we embark on celebrating 100 years of the Utah Association of CPAs, we go back to the first 75 years with this script for the celebration video created in 1995. Watch the video at youtube.com/uacpacomm.
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t was a British man, Edwin Guthrie, a partner of the chartered accountancy firm of Thomas, Wade & Guthrie of London who helped establish the AICPA. Guthrie took a trip to New York in October of 1886 to take care of problems resulting from the unexpected death of his firm’s New York partner. However, an unscrupulous member of the firm had taken possession of the office and defeated Guthrie’s efforts to reorganize the firm’s practice. It wasn’t until January 1887 that the courts allowed Guthrie to repossess his firm’s office. This difficult episode motivated Guthrie to encourage American accountants to form a professional organization that could attest to its members’ competency and integrity. Thus, the American Association of Public Accountants was formed — the direct lineal ancestor of the modern AICPA. The early 1900s was the beginning of the regulation of public accounting, and Utah was in the forefront. William J. Bateman and Douglas A. Swan Sr. were chiefly responsible for the passage of the Utah State Public Accountancy law of 1907. At that time, only nine other states had laws regulating the practice of public accounting. Mr. Bateman was appointed to the first Utah Board of Accountancy and served as chairman until the State Department of Registration was created by the legislature in 1921.
The first examination was given in 1908 to three candidates. Two passed — a much higher percentage than today. By comparison, just under 40% of Utah candidates passed the May 1994 exam on the first sitting. In 1909, the corporation excise tax was enacted, imposing a 1% tax on all corporate income in excess of $5,000, thus creating a need for the first tax accountant. In 1917, the American Institute of Accountants offered the first Uniform CPA Exam and adopted its first code of ethics. The years from 1915 to 1925 were dubbed “the decade of the CPA movement.” The charter members of the UACPA met on July 8, 1920 at the Commercial Club to establish the Utah Association of Public Accountants — which later became the UACPA and adopted a constitution and bylaws. The objectives of the association were to raise the standard of public accountancy as a profession, to advance and safeguard the interests of the members of the association and to promote harmony and cordiality among them. While people in New York were struggling, things were different in Utah. Needless to say, after the stock market crash of 1929, there was an increased effort to structure and regulate the conduct as members. The current code of professional conduct has been amended several times over the years and has been adopted by the UACPA and the state the journal entry | January 2020
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of the Rules of Professional Conduct of the Association. Hopefully nothing as worldwide devastating as the depression will ever happen again.
We began a scholarship program to help junior accounting students attending universities in Utah achieve their bachelor's degrees.
During the 1930s, all there was was the depression.
For the first time, new certificate holders were sent letters congratulating them on completing the exam and inviting them to join the UACPA.
The ‘40s started with economic depression, war raging in Europe in the first electronics computer. About that time, the ladies auxiliary was formed by the wives of CPAs so there were functions such as charity luncheons and fashion shows helping the UACPA find its softer side. The 1950s were The Wonder Bread Years with new prosperity, and, for the first time, films were distributed so college students could learn more about accounting and consider it as a career. Cloyd Wangsgard was appointed executive secretary in 1954. Public relations programs were initiated to help the average listener with the tax problems. UACPA members answered questions on KSL’s “Public Pulse” and KUED. 1959 was also time for celebration. Percy Goddard, one of our founding fathers, was honored for 50 years of service and recognized as Dean of Utah CPAs. The UACPA also kept up with the times. We increased the dues. There was a special $3 assessment to the membership for the cost of engraving the CPA directory. It was the decade of Aquarius, the decade of change, the decade of challenge and the UACPA was right in the thick of things. 10
The 1960s were years of change. There was also a change in dues. They went up again. The initiation fee at that time was a staggering $10. Even through disco, the UACPA continued to grow. The UACPA moved its new offices to the Judge Building. The office furniture was donated by Touché Ross. The tax symposium conference was started and has improved and prospered with each passing year. The Becker CPA Review course was established in Salt Lake to help candidates prepare for the CPA Exam. Francie Whitehead was hired as the first full-time executive director of the UACPA. Billboards advertising CPAs were displayed in Utah’s major cities to increase the public’s awareness of the CPA's role as a tax advisor. The University of Utah department of accounting announced its professional program in accountancy. This led to the Master of Professional Accountancy degree. Annual conventions in the mid '70s and mid '80s were also grand social
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events. Conventions were held in Hawaii, Lake Tahoe, Cancun and Lake Powell, just to name a few. Oh, and of course the dues went up — $15 per year in most categories. The 1980s was the decade of the woman, and it was about time. Sue Higginson and Ellen Morrell formed the first female CPA firm — this was only 40 years after Mary T. Washington Wiley, the first black woman CPA in America, opened her own firm in her basement due to lack of opportunity to work elsewhere. The first female member was elected as UACPA president. Ms. Lynne S. Wilhelmsen and this was only 80 years after Christine Ross became the first woman CPA and received her certificate in 1899, and 60 years after Claire Haines, the first female member, was admitted in 1923. But women have always been affiliated with the UACPA through the ladies auxiliary. Now they became an integral part as members and leaders. Historically, the ladies auxiliary had organized the social and charitable activities of the Association. When the ladies auxiliary was disbanded in 1982, these activities didn’t cease. If anything there were more. The UACPA Open golf tournament was held at Wasatch State Park. The first major PR campaign began, “Ask a CPA and Be Sure.” Tax Tracks 5K run in City Creek Canyon was held.
Blood pressure checks were held at ZCMI on April 14. The first UACPA Briefcase Brigade also marched in the St. Patrick’s Day Parade and tied for first place. The UACPA also improved relations with legislators by sponsoring luncheons and providing tax guides. During the 1980s, it was decided that CPAs needed more than a bachelor’s degree to participate in our chosen profession. The Public Accountants Licensing Act was passed, and CPE became a requirement for the licenser. As a result of this, the UACPA named Jeannie Patton as executive director and Donna Salter as CPE coordinator. This allowed the UACPA to give its members more services than ever before and double its membership in five years. In 1987, the quality review program was born. Members voted on the AICPA plan to restructure, which in turn revised the code of ethics that brought us the quality review requirement and required CPE for both practicing and non-practicing members. Oh, and of course, in the 1980s, the dues increased. For example, a member who just received their license was charged the low fee of $105. But in 1992, we also introduced the CPE season discount program, which saved the average CPA enough to pay for their dues. The UACPA in the 1990s is still growing. Today we have more
members in private practice than ever before.
Thank you to the 75th Anniversary Committee for this content of this article
The UACPA also continues to assist CPAs and the general public.
Robert V. Stevens, Co-Chair Roger B. Pinnock, Co-Chair Kenneth R. Cutler Lyle Ellis Mary Kay Griffin Gordon S. Jack Paul H. Kasteler Janis R. Kline W. Val Overson Ted Stagg Milton H. Thackeray Cloyd E. Wangsgard Fred T. Wunderli Mark B. Hales, Board Liaison
We opened the UACPA Education Center next to the UACPA offices to accommodate group study courses and other committee sponsored functions. Legal liability lawsuits have prompted tort reform and changing professional standards. Passage of the Utah Limited Liability Company Act helped ease the liability burden for CPAs. The first educators conference was held at the University of Utah. And we are still educating the public about CPAs and the resources we can provide them. The important part of all of these events is that we wouldn’t be where we are today if it weren’t for the Utah CPAs of the past. n
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THE WORLD IN 1920 What Life Was Like When the UACPA Formed
By James S. Bean Jr. During 2020, the UACPA will be celebrating the 100 year anniversary of the organization, established in July of 1920. It may seem like we live in a very tumultuous time these days, but 100 years ago times were very troubling and experiencing significant change. Let us take a brief look back 100 years ago to see what was happening in Utah, the U.S. and the world.
World War I In 1920, the world was just starting to recover from what was then called “The Great War” or “The War to End All Wars.” The war started in 1914, and the official armistice had just been signed in November of 1918, with great hope that the world had seen the end of such terrible tragedies. 12
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It was not called World War I until World War II came along. WWI caused an estimated 37.5 million total casualties, including 9 to 11 million military and 11 million civilian deaths. Even though WWI was primarily a European war, many other places around the world that had been under the influences of European nations were also involved. WWII had even more casualties, but the pointless and wasteful loss of life due to antiquated tactics meeting industrial weaponry remains unparalleled. The introduction of chemical weapons also contributed to the tragedy. The United States had sent 4.7 million soldiers to serve during the year and a half of involvement in WWI. In that brief time, 111,516 American deaths had occurred. In Utah, many previous immigrants followed the events
that were taking place in their homelands and volunteered to return to fight for both sides. Approximately 21,000 Utahns ended up serving in the war (about 5% of the population), with 665 deaths. WWI brought Utah to a full expression of statehood and led to the modern military presence that exists today.
Spanish Flu Pandemic Another incredibly disastrous event, that involved even more of the world, occurred during 1918 and 1919. The Spanish Flu Pandemic was the most disastrous health event to occur since the Black Death of the 1400s. An estimated 500 million people worldwide (one third of the population) were infected, resulting in an estimated 50 million deaths. Soldiers returning to their home countries were largely responsible for spreading the epidemic. The United States incurred about 675,000 deaths, and about half of the deaths among U.S. soldiers fighting in Europe were due to the flu. Some of the healthiest individuals died from the disease, in contrast to what we experience these days. In Utah, 2,343 flu deaths were recorded from September 1918 through June 1919. State authorities had discouraged large gatherings of people as the epidemic spread. But enthusiasm for the returning soldiers brought out large crowds, which quickly spread the disease.
Prohibition Prohibition was another event that had serious social repercussions. In 1917, Utah became the 24th state to adopt statewide alcohol restrictions, which ultimately led to the ratification of the 18th amendment, initiating Prohibition in 1919. In 1933, Utah was the 36th, and deciding state, to ratify the 21st amendment, reversing Prohibition. Utah did not experience the same level of organized crime as other parts of the country did. But the social complications were still an issue as a result of Prohibition
Transportation During this time period, great strides were starting to be taken in the area of transportation. The train had been about the only way to travel any great distances in a reasonable amount of time. Most of the soldiers going off to war by train had never been very far from home, which had huge social implications. The first transcontinental highway, the Lincoln Memorial Highway, had only been
dedicated in 1913. That highway basically just strung together the patchwork of roads that went from town to town across the country. Most of the roads had been built for horse transportation and many were still just dirt and gravel. In 1916, the Official Road Guide said that it could take 20 to 30 days to cross the country. The Model T Ford would still have been a common vehicle on that highway, and in fact would still be in production for another six years. Some people were using the airplane to get places, but commercial airline travel was not introduced until 1926, and that was back East.
Technology In 1920, electrical technology was still not commonly used by most Americans. That year, only 35% of U.S. households had been electrified. By 1930, 70% had electricity, but if you did not count farms, that figure was more like 85%. So the rural areas, which included much of Utah, were still getting along without the convenience of electricity. Many of the electrical conveniences we take for granted today were not in any home at that time, even the radio. Westinghouse applied for the first commercial radio broadcasting license in 1920.
Personal Insight In some ways, 100 years ago does not seem that long ago. For instance, my grandfather was 12 years old in 1920, and he was a big part of my life for 60 years. I remember many of his stories from that era which gave me a direct connection to that time period. But on the other hand, my research of that time has revealed many tragic and incredible happenings that have not been repeated to the same magnitude in my lifetime. n
James (Jim) S. Bean Jr., CPA, CFE, is now retired and enjoying life while doing volunteer work, creating handmade items and spending quality time with his grandkids. He spent his career as an internal auditor for several entities, mostly for Utah Power and Utah Transit Authority. He graduated from Brigham Young University in 1981 with an accounting degree. He has been a member of the UACPA since 1983.
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Celebrate With Us On July 8, 2020, the Utah Association of Certified Public Accountants will reach a tremendous milestone — our centennial anniversary! We look forward to a year full of festivities in 2020.
These events include a week-long celebration, a CPA week of service, movie nights, baseball game, a special gala on Sept. 24, 2020, and a commemorative issue of The Journal Entry in July 2020.
Several events and activities are planned in 2020 to recognize the association and its dedicated members.
Help us celebrate by being a part of the festivities. For all inquiries, contact Amy Spencer, as@uacpa.org or 801-834-6633.
S P O N S O R S H I P PA C K A G E S Aerial Rocket $5,000
Roman Candle $2,500
Bottle Rocket $1,500
Cherry Bomb $1,250
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Bang Snaps $1,000 Ad Sponsor
Party Popper $250 Donation
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As we get ready to celebrate 100 years of the Utah Association of CPAs, we want you to share your stories and experiences.
SHARE YOUR STORY
Do you have photos, old equipment or ephemera from the early years of your career? We would love to take a picture and hear your stories. We are collecting information for our July 2020 issue of The Journal Entry. Share details at uacpa.org/centennial or email Amy Spencer, as@uacpa.org
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CELEBRATE IN 2020 Turning 100 years old is a big deal. So big, in fact, that we want to spend the entire year celebrating. We hope that you, along with the 3,000 members of the UACPA, will join us in some of the events we are planning for 2020. Mark your calendar to be part of this monumental occasion that will be remembered for years to come.
May 11 – 14 CPA Week of Service July 6 – 10 Celebration Week August 8 UACPA Bees Night August 11 Charity Golf Tournament September 24 Centennial Gala
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By the
NUMBERS THE EARLY YEARS OF THE UACPA
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The number of members of the UACPA in 1920.
These numbers were found in an issue of The Journal Entry from 1995.
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1896
The year the first CPA The number of female UACPA members in 1973. exam was offered in Buffalo and New York City.
1907 The year that Utah licensed its first CPA. William J. Bateman held certificate number one from the Utah State Board of Accountancy.
UACPA Receipts and Disbursements from Oct. 7, 1921 to Nov. 3, 1922.
$90 Amount collected on membership dues for dinner for 62 guests $124 Cost at Hotel Utah on Jan. 13, 1922 $4 Cost of cigars for event on Jan. 13, 1922 the journal entry | January 2020
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A LEADER IS BORN Leadership Academy Delivers Training, Tools, Networking and Good Times for a Career-Enhancing Experience
By Tyler Hodges
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e all know there is not a cookie-cutter leader. There is no exact formula to follow to become inspiring. Each leader is different, with unique traits and personalities. The UACPA Leadership Academy is designed to help people understand the leadership traits that they already possess so that they can use them to first inspire themselves and then others. This is my first year working for the UACPA, thus my first year planning and attending Leadership Academy. While the CPA lingo went over my head, the lessons I learned will be remembered for the rest of my life. It didn’t matter that I was not a CPA. We all simply wanted to progress in our careers and improve our leadership skills. Leadership Academy puts future leaders on the path to discovering their strengths through a process that involves a large amount of studying and self-reflection. The course began with a half-day introduction and training in September where participants got a taste of what's to come. We received tools to prompt introspection, and after reviewing the materials, we participated in a three-day retreat in Park City in November. Prior to the retreat, we kicked off the overnight stay with a service project. As has become tradition, we jumped right in with teaching children basic financial principles through Junior Achievement's education program. Following the service project, the group buckled down for insightful training from Dan Griffiths, CPA, a leadership and management expert.
The nature of the academy encouraged us to network and learn from each other. Through ice breakers, brainstorming activities and s'mores around the fireplace, strong friendships were created. I was able to make wonderful connections, some that I already knew through the UACPA and others who I met at Leadership Academy. We all know we can reach out to one another for help at any time during our careers. One Leadership Academy graduate commented that “the connections built between professionals that are all in the same spot in their career will be lasting and beneficial.” the journal entry | January 2020
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This year, we were lucky to have past Leadership Academy attendees, Shalaun Howell and Josh Turnbow, along with Tommy Auger, speak to the group about how service has impacted their career. They inspired the group with experiences of adapting the tools they learned from Leadership Academy to real life. It's apparent that Leadership Academy has had a profound impact on past participants. Many have established leadership roles both within and outside of the UACPA. Some have grown in their careers, have started their own companies or have become partners in their firms. Many sit on boards throughout Utah and even within the UACPA. I found it interesting to see my non-accountant skills compared to everyone else. My innate traits lean more toward relationship building and are emotion-based, while the
majority of the group was very logical and executive-centered. We witnessed how there are as many different types of leaders as there are individuals. Leadership Academy helped us bring our internal leadership traits to the surface. Leadership Academy was an enlightening experience that everyone should participate in. For those who can, I look forward to seeing you next year! Apply to participate this fall by completing the form at uacpa.org/ leadershipacademy. n
Tyler Hodges is the membership development coordinator for the UACPA.
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THE FOUNDATION FOR THE FUTURE Support Students on the Path to CPA
By Michael Michelsen, CPA
I
n September, members of the UACPA received a survey requesting feedback about the Utah CPA Foundation, the charitable foundation of the UACPA. The first question asked, “Are you aware of the Utah CPA Education Foundation?” Only half of those who responded to the survey were aware of the foundation. The response was disappointing, but not unexpected. Since it was established, the foundation has struggled to find its identity and clearly communicate its mission. When I joined the board of the foundation in 2012, the focus of the Foundation was Financial Literacy and the ProNet Council for UACPA's younger members. The Foundation supported these efforts by 1. Providing funding for materials of financial literacy classed taught by UACPA members 2. Providing limited funding for the ProNet campus ambassadors and other ProNet activities 3. Awarding an annual cash gift and trophy to an outstanding high school accounting teacher Because interest from the secondary education community and a small cash award did not generate the volume of applications to justify continuation of the award, and because each firm planned and provided its own career training or mentoring for young CPAs resulting in low participation in ProNet events, it became clear that the Foundation could not continue to split its efforts among three different goals. Since the UACPA had an active Financial Literacy Task Force, it was determined to solely focus the efforts of the 22
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foundation in support of the financial literacy program. However, as a result of fewer opportunities for financial literacy classes, there is little need for class materials. The survey sent in September was the foundation board’s effort to obtain feedback about what the UACPA membership feels is important as we once again evaluate the mission of the Foundation. The second question of the survey requested input from members regarding the most important function of the Foundation. Outreach to high school students regarding a career in the accounting profession and scholarships to accounting students at the university level were the two highest responses. We were somewhat surprised to learn that the positive response for high school outreach (40.65% of respondents) was double the response for scholarships (20.56% of respondents). The remaining responses indicated support for financial literacy outreach (17.76%), outreach to accounting majors and universities (11.68%) and providing assistance to CPA candidates to take the CPA Exam (7.94%). The balance of the survey questions related to questions about the types of scholarships and qualifications of potential recipients. As the board of the Foundation, we have reviewed what other state societies are doing with their Foundations. The majority are involved in providing scholarships to university students to encourage the study of accounting. In addition to scholarships, a few other state societies have high school outreach programs that are designed to encourage and aid secondary students who are interested in accounting careers. Based on the survey responses, research performed by the UACPA
staff on behalf of the board and feedback from others, including some of the original board members of the Foundation, we have determined that scholarships should not be the primary focus of the Foundation. Instead of focusing on scholarships, we will look for ways to support the UACPA in its vision and values. During the upcoming year, celebrating the formation of the UACPA 100 years ago, we will continue to work with the staff of the UACPA to discover opportunities for the members to give back to our communities through the Foundation in ways that accomplish the vision and values of the UACPA. There are opportunities currently being explored, and we hope to be able to communicate a new direction and mission for the foundation.
Invest in Their Future Not everyone decides they want to be a CPA when they are young, but once they discover that desire, the Utah CPA Education Foundation is there with the tools to make that dream a reality. Pay it forward and support a student who has a future in accounting.
As the board of the Foundation, we call on members of the UACPA, both individuals and firms, to help support the organization that was established for our profession to give back to our communities.There are many ways to make your tax-deductible donation to the Foundation. Please donate with your dues invoices this year, respond to additional solicitation requests you may receive, participate in the annual UACPA golf tournament in August or call the UACPA to donate to the Foundation. Contributions may also be made at UACPA.org/foundation. We are grateful to all those who have donated in the past and to those who donated more recently. Please continue to donate. If you haven't donated to the Foundation, please donate now as a way to celebrate the centennial of the Utah Association of Certified Public Accountants. n
Michael Michelsen, CPA is an audit partner with Eide Bailly LLP, where he serves nonprofit, government and healthcare clients. He graduated from the MAcc program at Brigham Young University in 1994. Michael currently serves as the board chair of the Utah CPA Education Foundation.
Make a donation. Get involved. Visit uacpa.org/foundation
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T
he 2019 legislative season has finally come to an end, and the Utah state legislature made sure it went out with a bang. During a special session that convened on the evening of December 12, the House of Representatives and Senate passed sweeping tax reform legislation in an attempt to balance the discrepancy between income tax and general sales tax.
TAX REFORM REMAINS A HOT TOPIC
UACPA MEMBERS HAVE INFLUENCED PROPOSED TAX CHANGES IN UTAH By DAvid Peterson, Ryan Peterson and Craig Peterson
Before we take a look at the new changes in the tax code, it is important to recognize the growth in support of UACPA’s legislative efforts and thank the UACPA board, staff and members for the time and energy invested in becoming a trusted voice of reason on Capitol Hill. Over the course of the last few years, the UACPA’s scope of legislative influence has continually expanded. On a regular basis, legislators from the House and the Senate have sought out the advice of UACPA representatives and member-constituents. Our legislative plan has been one of education and partnership. Instead of calling and yelling at our legislators or sending out mass email messages, our members have offered calm counsel and much-needed information to Utah’s part-time legislature. As our membership and legislative influence grows, so does our understanding of the political process and the importance of having a “seat at the table” when issues that affect our businesses are being discussed. We understand the importance of funding our political action committee, which has allowed us to participate in more legislative fundraisers. PCG Utah will continue working closely with UACPA’s PAC in order to identify legislative champions who understand our business and advocate for our issues. The UACPA’s government relations plan is working. We anticipate further growth in our ranks and greater opportunities for involvement in the 2020 session. With your continued support, we expect this growth to continue in the years to come. Our collective voice during the 2019 legislative season was both heard and heeded; the final draft of the tax restructuring bill is strong evidence of that. Obviously, any time there is talk of tax reform, CPAs must be involved in the discussion. The UACPA had been involved in Utah’s tax restructuring discussion
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long before House Bill 441 (Tax Equalization and Reduction Act) was introduced 10 working days before the end of the 2019 general legislative session. That bill, ultimately pulled one week later, was the impetus to nine months of continual tax reform discussion, presentations, state-wide meetings and the ultimate passage of Senate Bill 2001 (Tax Restructuring Revisions) during a special session in December. The UACPA had representatives in attendance at every single one of those meetings. We understand the issues and how these issues affect UACPA members and their clients across the state. We educated legislators regarding the challenges our business would face if a tax on professional services was included in the bill. We helped legislators understand how President Trump’s Tax Cuts and Jobs Act affected larger Utah families, which led to the expansion of the Utah Dependent Exemption from $565 to $2500. As always, there is no rest for the weary. The Utah Tax Commission asked for our help as these legislative changes are implemented and we prepare for the technological challenges our members and their clients will face as we race to get software in place that will accurately apply these changes. Unfortunately, our work is far from over. Though not included in the bill, taxation on professional services will continue to be looked at as a source of tax revenue. In our discussions with legislators, a number of them indicated that this is merely a first step in the discussion. Some even expressed disappointment that they were not able to tax more services. Utah’s CPAs are not in the clear as it pertains to tax on services. From here on out, services, including professional services, will be seen as the untapped well of sales tax revenue.
David Peterson is a partner and attorney with Peterson Consulting Group. He received a B.S. degree from Brigham Young University, his J.D. from the University of Toledo, and his LL.M. from The Judge Advocate General's Legal Center and School. He has served on active duty and with the Army National Guard for more than 20 years and currently holds the rank of major. Ryan Peterson is the managing partner of Peterson Consulting Group. He has been a contract lobbyist in the state of Utah for the last 12 years. He received a degree in economics from the University of Utah with a focus on statistics and econometrics. He is an avid golfer and resides in Salt Lake City.
Craig Peterson, senior partner of Peterson Consulting Group, has been involved in legislative processes for almost 40 years as a State Representative, State Senator, and Republican Senate Majority Leader. During the past 20 years, he has been a lobbyist, successfully representing a broad spectrum of clients. Craig and his sons Ryan and David have become a strong political voice for their clients.
As we head into a new year and new decade, our mission to advocate and educate will continue to be our focus as we draft our legislative goals and priorities. We are already aware of intended changes to the Enterprise Zone Tax Credit as well as a number of other issues we expect to address in 2020. The continued support and input from individual UACPA members and member firms will always be the foundation we build upon to achieve our legislative goals and defend our business interests. n Read the final summary of SB2001 at https://le.utah.gov/interim/2019/pdf/2019s2SB2001sub4.pdf the journal entry | January 2020
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From the Nov/Dec 2019 issue of New Jersey CPA magazine (njcpa. org/newjerseycpa)
A
PROTECTING SENIOR CLIENTS FROM FINANCIAL ABUSE BY Sharif A. Muhammad, MBA, CPA, MST, CFP ®, Unlimited Financial Services LLC
s trusted professionals, CPAs can expect to find themselves involved — either as an advisor or service provider — in a case involving some form of elder financial abuse or an investment scam that targets senior citizens. CPAs need to not only be aware of the warning signs that indicate the possibility of abuse or fraud, but also partner with other trusted advisors to educate clients and constituents about these issues and how to protect themselves from becoming victims. Elder financial abuse often involves the deprivation or manipulation of the victim’s resources. The methods involved can include deceit, theft, fraud, a misappropriation of the victim’s assets or access to assets (i.e., credit), or conversion by way of duress. These offenses are very difficult to detect primarily because nearly 90 percent are committed by an elder’s own family member, friend, acquaintance or a person in a position of trust. Elderly victims generally own a home, have sizeable retirement assets, have relatively strong credit scores, are less tech savvy and were raised in a generation where people were taught to be more trusting of strangers. To exacerbate the problem, many cases of elder financial abuse and fraud go underreported due to the shame of the victims, the relatively weaker mental acuity of victim and the victim’s potential isolation from others due to family circumstance. This profile makes seniors an attractive target for abuse and financial fraud schemes; they lose nearly $37 billion a year, based on estimates produced by the financial services industry.
10 SCHEMES THAT TARGET ELDERS Per the United States Senate Special Committee on Aging (aging.senate.gov), the top 10 most-reported scams are as follows: 1. IRS impersonation scam. A scammer falsely represents themselves as an IRS agent and claims that the victim owes money to the IRS. The fake agent threatens to issue a warrant for the victim’s arrest unless an immediate payment is made.
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2. Robocalls/unsolicited phone calls. These are “coldcalling” scams. 3. Sweepstakes/lottery scam. The victim is told they have just won the lottery. The catch? They must pay a “tax upfront or other type of fee” before the funds can be sent to them. 4. Computer tech support scams. Fraudsters contact victims with a fake notice of the victim’s account being frozen or of some technical issue impacting the victim’s PC or other item. They ask for account information or credit card information to pay for repairs or “maintenance protection.”
5 TIPS FOR CPAS AND THEIR CLIENTS Here are some tips that CPAs should consider in assisting clients to better protect themselves from fraud:
1. Develop a fraud prevention checklist. Provide clients with an itemized, detailed checklist of fraud prevention actions/tools such as
5. Elder financial abuse. As discussed above, this is the exploitation of a senior by loved ones or trusted acquaintances.
• Register all phone numbers on the National Do-Not-Call Registry (donotcall.gov). • Consider purchasing a credit monitoring service. • Sign up for email/text fraud alerts from banks and credit card companies. • Rent a P.O. Box for sensitive financial mail. • Buy a shredder and make a normal practice of destroying unneeded documents with sensitive information. • Acquire antivirus software for your computer(s).
6. Grandparent scams. Scammers pose as grandchildren in financial distress and plead for financial assistance and discretion.
2. Schedule check-ins throughout the year. A five- to 10-minute phone call once a quarter can go a long way in helping your senior clients.
7. Romance/companionship scams. Scammers act as romantic interests and request monetary help and assistance in exchange for companionship and affection.
3. Coordinate with financial advisors and attorneys. With the client’s permission, team up with their financial advisor, insurance agent, banker and/or attorney to monitor their affairs. Be vigilant about any suspicious activity and make inquiries.
8. Social Security impersonation scams. Under the guise of a Social Security Administration employee, scammers seek to trick victims into providing their Social Security number, date of birth and other personal information needed to steal their identity. 9. Impending lawsuit scams. Similar to the IRS scam, victims are contacted with the threat of some legal action unless a payment is made to resolve the matter. 10. Identity theft. A perpetrator illicitly obtains the Social Security number, date of birth and other minimum information required to file a fraudulent income tax return. When the actual client files their return, they are shocked to learn that their return has already been filed.
4. Identify “interested parties” and/or “trusted contacts” for financial accounts. This allows the CPA to provide notification to trusted third parties of abnormal activity in an account and to contact such parties to discuss the account in the event the owner becomes unreachable or there is suspected elder abuse. 5. Encourage education and vigilance. Take the time to educate your clients about new scams and any technology, services or other protective tools. As well-regarded “problem solvers,” the professionalism, thoroughness and heightened vigilance of CPAs will further enhance their reputation as the public’s most trusted advisor. n Sharif Muhammad, CPA, MBA, MST, CFP, is the managing member of Unlimited Financial Services LLC. He can be reached at smuhammad@unlimited-financial.com.
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WOMEN IN ACCOUNTING
Teri Paskvan, CPA
By Kristy Hansen, CPA
A native of Minnesota, Teri Paskvan attended the University of St. Thomas in St. Paul, Minnesota, where she earned her master’s in accountancy. She worked at a public accounting firm, but the Utah mountains were calling after she and her husband honeymooned in Park City. A year later, she got a position with Coopers & Lybrand in Salt Lake and Utah became her new home. Now, 23 years later, she resides in Stansbury Park with a home on the lake (a nod to her Minnesota roots). Teri shifted from public accounting into the mining industry with various positions with Graymont, Inc. Now her path has taken her into the outdoor industry with positions at Black Diamond and Liberty Mountain. She is currently the chief financial officer for Liberty Mountain. ,
WHAT ARE YOU PASSIONATE ABOUT? I am very passionate about running on roads and on trails. I have ran three full marathons, and I have actually lost track of how many half marathons I have ran. I have just recently started running trails and hiking mountain peaks, which has provided me with the needed stress relief from juggling work and family life. We live in the most beautiful state and have great access to our canyons. It’s very empowering to look at a mountain and know that I can hike and reach its peak. I have learned that it’s very important to set time to make myself a priority and find a work-life balance for my physical and mental health. By making my health a priority, I am more focused at work and at home. I am very lucky to work for an outdoor company that values a life outside of work. There have been numerous times where I would begin my morning at the top of a canyon looking over the Salt Lake Valley and then proceed to run directly to work, knowing that my work day can wait until I get there! 28
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HOW HAVE MENTORS HELPED YOU IN YOUR CAREER? I have been extremely lucky to have worked for three great people along my career who all mentored me. They all took an interest in seeing me achieve my goals professionally and personally, and empowered me to do so. They pushed me to achieve more, to strive for continuous improvement and to always push limits and never settle. I consider them all to be good personal friends and role models. I have cherished our friendships long after I have changed positions and companies. I can always count on them if I ever need anything. I have taken what they have taught me and give that same support to all who work for me. We are only as good as our weakest link, so I make it a point to provide good constructive feedback to help everyone on my team so that we all can succeed in our positions. I do not want people to work for me their entire career; I want them to continue to improve with education and new skill sets to push their career limits!
WHAT ADVICE DO YOU LIVE BY? If you don’t like how your story is going, you can write a new chapter; tomorrow is a new day and a new chapter in your story. I like this advice because it reminds us that we are in control of our own story. We have more control over our lives than we give ourselves credit. We can (and should) constantly evolve, change careers, learn new skills, take risks and have new experiences. If you do not like where your career is going, then don’t be afraid to make a change and take a risk to get a new one or go back to school to further your education. The only mistake is the chance not taken. No one else is going to make changes for you; you have to be your own self-advocate! n
The Journal Entry is printed by Transcript Bulletin Publishing. Transit Bulletin Publishing is a full service local printing company who enjoys printing for UACPA and would like to provide our printing services to you. For more information, call Shane at 435-840-0344
Kristy Hansen, CPA is a financial analyst at the Church of Jesus Christ of Latterday Saints. She earned her Master of Accounting at Weber State University. She has enjoyed a semester abroad at Brigham Young University Jerusalem Center for Near Eastern Studies.
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MEET A MEMBER
James S. Bean Jr., CPA
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JIM, the oldest of four children, was born in Salt Lake City and he lived in many places as his father was in the Navy.
"The first place that I remember well was Key West, Florida, where I attended first through seventh grades. I had many great adventures there, such as swimming in the ocean, pulling in big fish and hunting for pirate treasure." His high school years were spent in Arroyo Grande, Fresno and Livermore, California. "I spent the eighth through twelfth grades attending a different school each year. Those moves were more the result of my parents finishing their college educations and securing their first teaching jobs." "After high school, my family moved to Fredonia, Arizona. From there I decided to serve a mission for my church in the country of New Zealand. That was a great experience learning of other cultures and living on the other end of the planet for two years. "I met my wife Karen at BYU and we decided to live in Utah, where I had always wanted to live." Jim and Karen have a family of five children, four of them are adopted. He has spent most of his career as an internal auditor for various companies, mostly with Utah Power and Utah Transit Authority.
WHAT LED YOU TO BECOME A CPA?
"The original plan was to major in engineering at BYU, but the chemistry scared me, so I chose a major (accounting) that appeared hard for others, but came easy to me. Also, I figured that every entity needs an accountant, so there should be good job selection upon graduation. During my first year as an internal auditor, I
figured that a CPA certification would enhance my career. That calculation has turned out to be true, by lending credence to all of my auditing work.
WHAT WOULD SURPRISE PEOPLE TO KNOW ABOUT YOU? "I like to believe
that I am a people person, which does not always mesh with the perception of the role of an auditor. Sharing with others the knowledge that I have gained and inspiring them to be their best is what truly motivates me.
WHAT IS ONE BOOK (OR BOOKS) THAT HAVE GREATLY INFLUENCED YOU? My favorite books have
always been biographies of historical individuals that have had a positive influence on the world.
NOW THAT YOU ARE RETIRED, HOW DO YOU SPEND YOUR FREE TIME?
My time in retirement has turned out busier than I expected. My volunteer list includes substitute teaching, credit union supervisory committee, UACPA Centennial Committee, senior center, community garden, and my wife and I serve one day a week at the Centerville Employment Center. I have not had much time for my hobbies, of which I have many. I love to work with my hands and make things for people.
WHAT ADVICE DO YOU LIVE BY?
• Happiness is a direction, not a place. • Life is 10% what happens to you and 90% how you react to it. • Love never fails.
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MEET THE EXECUTIVE BOARD
What Is on Your 2019 Highlight Reel? Monica Gardner President
Stacy Weight Vice President
"My highlight reel is full of time with my family. We had a new friend from Japan stay with us for about a month over the summer. We spent some time playing at Bear Lake, hiked all around Arches and Canyonlands, and just spent some quality time together outdoors. It doesn’t get much better than that!"
"My 2019 highlight reel would definitely contain pictures of me finally getting my “bucket list” dirt bike. That would be shown right alongside my newly gained freedom from chauffer duties as the mom of a teen driver!"
Jason Tomlinson Treasurer "Moving (and all the stress and work in buying and selling a home) took up the majority of my year."
"It has been rewarding to serve on the UACPA board and give back to the profession. I’m energized by others who are so enthusiastic in helping the profession. We have a great association from all the volunteers to the full-time staff. Happy New Year!"
Jay Niederhauser President-Elect
Matt Klein Immediate Past President
"The highlight of 2019 for me was the birth and adoption of our eighth grandchild — a beautiful little girl who loves her grandfather! It doesn’t get any better than that!!"
"I finished the great honor of serving as the president of the UACPA, went to San Diego twice, and cut down our own Christmas tree!"
Nate Staheli Member-at-Large "In 2018, Dixie State University was approved to offer its first graduate program. The Master of Accountancy was created and students were admitted. In May 2019, 17 students graduated from our program. Watching these students walk across the stage is definitely on my highlight reel!" Not pictured: Tom Colligan (Member-at-Large) and Katie Chandler (ProNet Council)
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Troy Runnells Secretary
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Brandon Allfrey AICPA Council "I've been able to enjoy a week in Hawaii with my wife and kids, spend an epic 20th anniversary with my wife in Australia, and experience new beginnings with kids growing older and moving forward with their lives."
Susan Speirs CEO "Tax reform, tax reform and tax reform. Every month and oftentimes more than once a week, the UACPA participated in committee meetings, hearings, public comment and negotiations regarding tax reform in the state of Utah. Indeed, January through December did not disappoint from an advocacy standpoint for our members."
BOARD BULLETS
News From the UACPA Board The following actions were taken by the executive board at the last board meeting. •
The nominating committee presented a slate of names to the executive board for approval for board positions for the 2021 fiscal year. Names were approved unanimously.
•
An update was given on the fall meeting of AICPA Council held in October and ongoing issues that will affect our members. CPA Evolution continues to be a hot topic of which work will be completed and submitted to the AICPA as part of January 2020 Leadership Council.
•
The State Board of Accountancy asked the executive board to weigh-in on firm structure as it has done in the past. The UACPA continues to support a two-tier firm structure, as do many of our states.
•
The State Board of Accountancy asked the Executive Board to weigh in on proposed legislation that could increase fines to $1,000 for CPAs cited for unprofessional conduct.
•
The 2020 Centennial was discussed with a brief update from the Centennial Committee. Members will begin to see promotion of events to be held throughout the state so that all may celebrate.
MEET THE UACPA STAFF
What Is on Your 2019 Highlight Reel? april deneault cpe manager "My daughter won her first gold medal in gymnastics. My family took an amazing vacation to San Diego where we rented a condo on the beach and spent most of our days. We also spent a day in Sea World, which is my daughters favorite! I also turned 40 this year and my closest friends took me to Vegas to celebrate."
tyler hodges membership development coordinator "My year has been eventful and exciting. I got a job at the UACPA and my wife and I bought our first house. We went on a vacation to Cancun, Mexico where we helped save baby sea turtles. But, hands down, the most wonderful event of this year is the birth of my son on December 6. It was a great year!"
amy spencer communications/Marketing "I checked off bucket list items like backpacking to Havasupai and running the Bay to Breakers race in San Francisco. Plus, I lucked out and traveled to Ireland and Scotland and went to music festivals in Chicago and Los Angeles. My ongoing goal is to make each year better than the last, and 2019 will be hard to top."
tom horn financial director "My 2019 highlight would have to be my river trip through the Grand Canyon with my long-time friends. It was one of the best trips I’ve had in a long time."
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Photos, Winter Conference
Winter Conference was filled with great speakers, fun contests, live music and a kick off for the UACPA centennial celebration. Thank you to our sponsors: MS Consultants, Now CFO, Paychex and Data Driven CIOs.
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STATE & LOCAL GOVERNMENT CONFERENCE
MAY 8 LITTLE AMERICA HOTEL
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CONNECT WITH YOUR CHAPTER
find your next m
eeting at uacpa.o
rg/chapter
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Member Benefits
The UACPA's Affinity Partners help you get the most out of your membership
Beehive Insurance
Groups with 2 to 100 eligible employees can participate in medical, dental, vision, telehealth and voluntary onsite programs through this plan. For more information, contact Todd Valentine at 801-743-7788 or tvalentine@beehiveinsurance.com.
National Affinity Service
Identity protection experts have you covered for $12.95 per month or $16.95 per month for a family. Visit healthwealth.fit/ uacpa_infoarmor.
CCH
UACPA members receive a discount on the U.S. Master Tax Guide and more. Visit cchgroup.com and use code Y3819.
Payroc
Payroc, a full-service payment processing company, makes it easier and faster for your clients to pay you and can even eliminate the vast majority of the fees a firm pays for credit card processing. Contact Colby Poulson at 801-951-8110 or colby.poulson@payroc.com.
Camico
The Mutual Insurance Company offers UACPA members a variety of benefits. To learn more, call 800-652-1772 or email inquiry@camico.com.
The UACPA Honors 100% Membership Congratulations to the firms and businesses currently participating in the UACPA's 100% membership program. This demonstrates their commitment to the profession, to the association's high ethical standards and a commitment to life-long learning.
PUBLIC PRACTICE • CBIZ • Cook Martin Poulson • Davis & Bott • Eide Bailly • Haynie & Company • Hinton Burdick • Jones Simkins • PricewaterhouseCoopers • Savage Esplin & Radmall • Squire • Stayner Bates & Jensen • Tanner, LLC INDUSTRY • LDS Church Auditing Department
Office Depot/Office Max
UACPA members can save up to 80% on office products, printing, technology and furniture. Visit officediscounts.org/ uacpa to learn more.
Paychex
Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services offers UACPA members one month of free payroll, retirement, and HR services. For more info, visit Paychex.com/accounting-professionals. Learn more about member benefits by talking to Amy Spencer at as@uacpa.org or by calling 801-466-8022.
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Firms with 10 or more full-time CPAs are eligible to be a part of the 100% membership program. Learn more by emailing Tyler Hodges, thodges@uacpa.org or by calling 801-466-8022.
ContactList Accounting Issues When UACPA members have questions about accounting issues, help is available from the UACPA Accounting Issues Committee. Each month, a member of the committee is assigned to answer accounting questions and help you interpret the rules as they apply to your particular situation. The following members may be contacted during the months listed. January
February
Ted Rokich 801-263-3090 trokich@fdic.gov
Mark Anderson 801-532-7800 markanderson@hayniecpas.com
March Mark Anderson 801-532-7800
Post your jobs at uacpa.org/jobs
UACPA members can post and view job listings for free
markanderson@hayniecpas.com
CPE Approval - Does This Qualify? When UACPA members have questions regarding CPE approval and whether or not something may or may not qualify, they can turn to the UACPA CPE Approval Committee for answers. Each month, committee members are assigned to answer member questions related to CPE approval. Below are the members who may be contacted with your questions. January – March Steve Avis 801-532-7800 stevea@hayniecpas.com
Need to Hire a CPA?
Scott L. Robinson 801-990-5918 srobinson@tannerco.com
Need help posting your job? Send the description and application details to Amy Spencer at as@uacpa.org.
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Tax Issues The Tax Issues Committee focuses on legislative and regulatory issues and does not answer technical questions. For assistance with a technical matter, please refer to the UACPA referral tool at uacpa.org. Direct questions related to legislative or regulatory issues can be sent to taxissues@uacpa.org.
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UTAH ASSOCIATION OF CPAS
Nonprofit Org.
136 S. MAIN STREET, SUITE 510
U.S. Postage
PAID
SALT LAKE CITY, UT 84101
Salt Lake City, UT Permit No. 1996
TECH TALKS Join us for one free hour of CPE where you will learn the latest on valuable tech topics.
2.19 MOBILE DEVICE MANAGEMENT FOR ACCOUNTANTS
All talks will be webcast. Attend online or in person. UACPA, 136 S. Main St., Ste 510
Register at www.uacpa.org/tech 40
the journal entry | January 2020
FREE FOR UACPA MEMBERS 1.15 DOCUMENT SHARING & DISASTER RECOVERY
3.18 TRENDS IN INDUSTRY
FREE FOR UACPA MEMBERS.
ALL TALKS ARE HELD AT NOON. LUNCH WILL BE PROVIDED.
