washington
CPA Summer 2015
Volume 59, Number 1
What’s Your CPA Story?
Auditing Employee Benefit Plans IFRS Adoption in the United States: The Latest Developments 2014-2015 Award Winners
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wa s h i n g t o n
CPA www.wscpa.org • memberservices@wscpa.org Tel (425) 644-4800 • Toll free in WA (800) 272-8273 Fax (425) 562-8853 902 140th Ave NE Bellevue, WA 98005-3480
BOARD OF DIRECTORS William A. Simer Chair David J. Miniken Vice Chair Kirsten S. Duke Treasurer Joseph P. Smith Secretary Heather L. Fitzpatrick Immediate Past Chair Richard E. Jones President & CEO
Laurie J. Anderson Kristine L. Lambright Ryan T. Bartlett Lucy L. Liu Justin A. Bourn Amanda V. O’Rourke Thomas G. Donaghy Michael Reeves Robert W. Heller Abby M. Sanders CHAPTER BOARD CHAIRS Erika Hosea Bellevue Area Lydia Ahn Bellingham Area Dana Lashbaugh Everett Area Diane Bingaman Olympia Area Joe O’Meara Seattle Area Fred Peck Spokane Area Dani Espinda Tacoma Area Alexander King Tri-Cities Area Molly VanderWoude Tri-Cities Area David Stubing Vancouver Area Sean Kinney Yakima Area
Jeanette Kebede
Editor
The WashingtonCPA is published by the Washington Society of Certified Public Accountants for its members. Views and opinions appearing in this publication are not necessarily endorsed by the WSCPA. The products and services advertised in The Washington CPA have not been reviewed or endorsed by the Washington Society of Certified Public Accountants, its board of directors or staff. The WashingtonCPA (USPS 009754) is published four times annually by the Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue, WA 98005-3480. $12 of members’ annual dues goes toward a subscription to The WashingtonCPA. Periodicals postage paid at Bellevue, Washington and additional mailing offices.
POSTMASTER: Send address changes to The WashingtonCPA, c/o WSCPA, 902 140th Avenue NE, Bellevue, WA 98005-3480.
Contents 4
Auditing Employee Benefit Plans
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Four Forces Affecting Our Profession
10 What’s Your CPA Story? 13 2014-2015 Awards 19 Maximizing Your Client’s Social Security: The Landscape has Changed
23 IFRS Adoption in the United States: The Latest Developments
25 Know Yourself, Show Yourself 27 2015-2016 Scholarships Awarded DEPARTMENTS 4
Leadership Lens
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Member Benefits
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News Briefs
31
CPE Digest
17 Advocacy
36 Conferences
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45
Registration Form
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Classified Ads
Networking Events
27 Foundation
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LEADERSHIP LENS
Auditing Employee Benefit Plans By Rich Jones, CPA, CGMA, President & CEO
T
he Employee Retirement Income Security Act of 1974 (ERISA) has been amended many times over the past 40 years. ERISA does not require employers to establish pension plans, nor does it require that plans provide a minimum level of benefits. Rather, it regulates the operation of a pension or other welfare program once it has been established. As a young tax guy early in my career, I was assigned the task of learning about ERISA and becoming the specialist on this new law for the tax department. It was a daunting but interesting task. ERISA did a complete overhaul of all rules affecting pension and other health and welfare plans. It introduced myriad rules, including eligibility requirements for participation, acceptable schedules for vesting of benefits, minimum plan funding requirements, information required to be provided to participants, prohibition of certain transactions between the plan and the employer or between the plan fiduciary and the plan, and created new fiduciary responsibilities for employers and other providers of service to the plan. Just as the Sarbanes-Oxley Act significantly changed the rules of auditing public companies in 2004, ERISA significantly changed the rules related to auditing and operating pension plans.
from a target population of 81,162 Form 5500 filings for 2011 in which an accountant’s report/audit opinion was attached. Because the population of plan auditors is so diverse and heavily skewed to those CPA firms that audit a small number of plans, the sample was designed to look at the relationship between auditor characteristics and audit quality. Historically, the DOL has found the CPAs with smaller employee benefit plan audit practices tended to have the most audit
The Secretary of Labor is principally responsible for enforcing the fiduciary and reporting and disclosure provisions that are contained in ERISA and has periodically conducted studies to determine the compliance with these rules. The DOL’s most recent study in this area (Assessing the Quality of Employee Benefit Plan Audits) was released on May 28, 2015. Its goal was to assess the quality of audit work performed by CPAs with respect to financial statement audits of employee benefits plans covered under ERISA for the 2011 filing year. They selected a statistically valid sample of 400 plan audits
deficiencies. Therefore, DOL divided the population of CPAs into six strata based on the number of plan audits that the CPA firm performed.
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“Overall, the [DOL] study found that 61% of the audits fully complied with professional auditing standards or had only minor deficiencies under professional standards. However, 39% contained major deficiencies with respect to one or more relevant GAAS requirements.”
Overall, the study found that 61% of the audits fully complied with professional auditing standards or had only minor deficiencies under professional standards. However, 39% contained major deficiencies with respect to one or more relevant GAAS requirements. The report is 191 pages, which includes the appendices that show summary information on each of the 400 audits that they reviewed.
Here are some of the conclusions from the study: •
•
•
•
The smaller the firm’s employee benefit plan audit practice, the greater the incidence of audit deficiencies. Audit areas that are unique to employee benefit plans such as contribution, benefit payments, participant data and party-in-interest/prohibited transactions lead the list of audit deficiencies. The peer review process established by the AICPA and administered by state CPA societies does not appear to be an effective tool in identifying deficient plan audit work and ensuring compliance with professional standards. While selecting an employee benefit plan audit is a required part of the peer review process (where applicable), CPAs who performed deficient audits often received acceptable peer review reports. Members of the AICPA’s Employee Benefit Plan Audit Quality Center tend to have fewer audits containing multiple GAAS deficiencies and fewer deficiencies per audit engagement.
I am just finishing my three-year term on the AICPA Peer Review Board and I can tell you that the PRB takes these issues very seriously. You probably know that the peer review program was begun by the AICPA more than three decades ago as an educational and remedial tool for practitioners to assist them in improving the quality of their audits. Since then, state boards of accountancy continued on page 16 www.wscpa.org
Are you A&A Andy? Tax Goddess Gina? Nonprofit Nicole?
Tax Goddess Gina, CPA
A&A Andy, CPA
Nonprofit Nicole, CPA
Superhero CFO Stan, CPA
Construction Ken, CPA
Are you a tax gal or an audit guy? A nonprofit specialist or a health care accounting expert? We recognize that you’re busy and want to send you the information that’s of interest to you.
Update your interests today! www.wscpa.org/mywscpa (click “Manage My Interests”) (425) 644-4800
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LEADERSHIP LENS
Four Forces Affecting Our Profession By William A. Simer, CPA, WSCPA Chair for 2015-2016
A
s I begin my year as chair of the WSCPA, I want to begin a dialog with you about why the WSCPA is important to each of us who practice as CPAs and why it is becoming even more important in a time when the rate of change is increasing every day. Like most of you, I’ve focused my career to this point by paying attention to my practice, not the profession as a whole. During the past few years as a member of the Board of the WSCPA, I’ve been offered the opportunity to gain a greater perspective of the forces that are impacting our profession today, and it’s clear that the strength of the WSCPA and our relationships with national and international affiliates has never been more critical. One of the key roles of the WSCPA is developing the future leaders of our profession. The WSCPA has taken an active role in mentoring student members and then transitioning with them as they become young professionals and assume an active role throughout the state. The future of our profession rests with this group, and this is good news: they’re good. Another initiative on the national level is the development of an Advanced Placement Accounting curriculum that would increase visibility of the profession in high schools. This project is well beyond the initial discussion phase and while it may be a few years before we see it deployed on a national basis, it will likely be offered on a limited scope in the near future. The pace of technological change continues to increase. When you consider that the computing power you have in your phone today exceeds the capabilities of many office-based systems of a few years ago, it is clear that these advances can offer opportunities for real-time processes that we could only being to imagine in the past. Plans for real-time practice monitoring are still in the conceptual
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“Like most of you, I’ve focused my career to this point by paying attention to my practice, not the profession as a whole. During the past few years as a member of the Board of the WSCPA, I’ve been offered the opportunity to gain a greater perspective of the forces that are impacting our profession today...”
stages, but the technical limitations on these processes are not far beyond the reach of the systems we have available today. The leadership of the WSCPA is fully engaged in these discussions and will continue to represent the profession’s interests in this dialog. Over the past few years, you’ve heard about developments in learning technology and the future of learning. As an organization, the WSCPA has been a thought leader in this area and has brought many of the developing concepts into our continuing education processes. This has given us the opportunity to drive change, rather than just react to it. We’ll continue to see changes in the way we access continuing professional education and measure the effectiveness of learning. The evolution of alternative means of content delivery has allowed us to access learning anywhere in the world, and the WSCPA has partnered with other state associations to deliver the best continuing education materials at the lowest possible cost to our members. The WSCPA will continue to hold a leading role in this evolution as part of our commitment to our membership. As I wrap this up I’ll touch on the
final, and possibly most important, role of the WSCPA: advocacy. You don’t have to look further than the scholarship bill we worked to pass this last session to understand the importance of this. Over the last few years, the WSCPA has played a key role in practice mobility legislation and other important initiatives that affect our profession. Recently, a delegation of staff and Board leadership returned from the AICPA Spring Meeting of Council in Washington, D.C., where we delivered detailed background information to representatives and senators from the State of Washington. This level of advocacy on both a state and national level has a significant impact on our profession and there is no better organization than the WSCPA to speak to our interests as a profession. I’m pleased and honored to chair the WSCPA in the coming year and look forward to meeting many of you at chapter functions throughout the state. The WSCPA has a reputation of being a leader in our profession and we will work hard to maintain and grow that reputation. William Simer, CPA, is Partner with Eide Bailly LLP in Spokane.You can contact him at bsimer@eidebailly.com. www.wscpa.org
MY CPA STORY
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NEWS BRIEFS
Free Monthly Resource from PCPS
CALL FOR NOMINATIONS Join the WSCPA Board of Directors The WSCPA Board Governance Committee is accepting nominations for the 2016-2017 Board of Directors. To submit a nomination, contact Lisa Brumley (lbrumley@ wscpa.org). Nominations are due November 1.
In partnership with the AICPA Private Companies Practice Section (PCPS), the WSCPA is excited to offer a free rotating tool available every month. The tool will be available online at www.wscpa.org/pcpsresources from the beginning of each month until the end, and then will be replaced by another tool. Take advantage of this free resource by checking in frequently. The July resource, available now through July 31, is a Starting Your Own Practice Checklist. The June resource, available through June 30, was a Due Diligence Checklist.
Announcing New Chapter Names, Expanded Areas To ensure that all members can participate in a chapter,WSCPA chapter names have been changed and some chapter areas have been expanded, effective June 1, 2015. Chapters are now named after the largest city within each chapter’s geographic area (see map below for estimated chapter areas). To verify your chapter or change your preferred chapter, visit www.wscpa.org/ mywscpa, login, and select “My Chapters.”
Seattle Area
Bellingham Area Everett Area Bellevue Area
Olympia Area
Spokane Area
Yakima Area
Vancouver Area Note: Boundaries are estimates
Verify or change your chapter at www.wscpa.org/mywscpa (select “My Chapters”) WashingtonCPA Summer 2015
Four WSCPA members were selected as winners from 6,321 entries in the WSCPA annual dues drawing. Each of these members won a $300 Amazon gift card. Congratulations to these members: Danielle M. Bennett, CPA, is an Assurance Associate with PwC LLP in Seattle. She joined the WSCPA as a student member in 2013 and was upgraded to a CPA member in January of 2015 when she received her WA CPA license. Elizabeth Reya Nicole Castro, is a student member pursuing her accounting degree in accounting at Pacific Lutheran University in Tacoma. She has been a member since 2014. Mike K. Jackson, CPA, is the VP of Finance & Administration with Presage Biosciences in Seattle, and has been a member since 1990. Jeff T. Shillcutt, CPA, is the Controller with Wood-Harbinger Inc., in Bellevue and has been a member since 1994.
Tacoma Area
Tri-Cities Area
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AND THE WINNERS ARE...
Thank you to all members who renewed their membership by June 1st and took the time to update contact information including areas of interest. If you have not selected your areas of interest, visit www. wscpa.org/mywscpa (login and click “Manage My Interests”) to ensure that you are receiving information that is of interest to you. www.wscpa.org
NEWS BRIEFS
Peer Review Scheduling Form: Changes to the 2015 Version The Peer Review scheduling form has been updated to include mandatory collection of the firm’s Federal Employer Identification Number (EIN). In addition, there are categories for preparation of financial statements, and firms may now elect to have their Peer Review Report and Acceptance Letter made visible on the AICPA’s Public File. Please be sure you are using the 2015 form when scheduling your firm’s peer review. The form will not be processed if the EIN is not included. If you have any questions about the peer review process, please contact Julie Phipps at jphipps@wscpa.org or (425) 586-1132.
Join the conversation! LinkedIn
In Memoriam The WSCPA holds in memory with families and the larger community, these members who have recently passed on: John R. Mahoney Myrtle M. Parent www.wscpa.org/community/ in-memoriam
Are you a member of the WSCPA group on LinkedIn? Join the conversation today! Plus, follow WSCPA news and find event photos on Facebook and Twitter.You may have missed the following discussions, news and posts:
What are the ramifications to a small non-profit if a volunteer uses the computer and printer supplies for personal use? Does that impact the organization’s 501(c)3 status? Does your firm do IT Audits? When are demolition costs capitalized and when are they expensed? Do you have experience with The Value Builder System?
Connect with fellow members and participate in discussions at www.wscpa.org/linkedin
WSCPA Blog Read WSCPA News & Commentary at www.wscpa.org/news Article submissions welcome. Contact webmaster@wscpa.org.
Like the WSCPA on Facebook WashingtonCPAs
Follow the WSCPA on Twitter @wscpa
Washington State Department of Revenue: New Tax Changes Take Effect July 1 PCPS Resource for July: Starting Your Own Practice Checklist (available through July 31) Profession Takes Bold Steps toward Audit Quality The CPA Profession’s Approach to Employee Benefit Plan Audit Quality Do’s and Don’ts of Due Diligence PCPS Resource: Due Diligence Checklist (available through June 30)
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“I wanted to create a firm where CPAs and professionals can do what they love”
What’s Your CPA Story?
“priorities can be shifted”
To showcase the variety of career opportunities available to CPAs, we asked some WSCPA members, “What’s your CPA story?” Here are three stories shared by WSCPA members. Interested in sharing your story? Contact us at jkebede@wscpa.org.
“I made a fateful (and in hindsight) excellent decision” “take some risk with your career”
drive change to his lifelong love of flying.
From childhood you dreamed of becoming a pilot. When did becoming a CPA enter into your career plans?
Brad Tilden, CPA
B
rad Tilden is the chairman and chief executive officer of Alaska Air Group and its two subsidiaries, Alaska Airlines and Horizon Air. Under his leadership, the company has earned many accolades, including ranking highest in customer satisfaction among traditional carriers in the J.D. Power North American Airline Satisfaction Study for eight years in a row. The airline also ranked No. 1 in on-time performance for five consecutive years by FlightStats, and was named the Best Airline in the U.S. by The Wall Street Journal for the second consecutive year. As a youngster, Brad would often go to the airport after school to watch airplanes take off and land. As the leader of Air Group, Brad has added a passion for using numbers to
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After graduating from Highline High School in Burien, Wash., I enrolled at Pacific Lutheran University. Originally planning on becoming a teacher, I became interested in business. I earned a degree in business administration and accounting. On the side, I took what money was remaining from summer jobs and began training for a private pilot’s license. Following graduation, I worked for eight years at the accounting firm Price Waterhouse at its offices in Seattle and Melbourne, Australia. I passed the CPA exam and earned my license in 1985. I joined Alaska in 1991 as director of general accounting.
How did you make the transition to your current position?
I was promoted to controller in 1994. In 1997, I earned my master’s in business administration from the University of Washington. I was promoted to chief financial officer in 2000, to executive vice president of planning and finance in 2007, and to president of Alaska Airlines in 2008. Then in 2012, I succeeded Bill Ayer as chief executive officer of Air Group.
What skills do you see as essential for success as CEO?
Being a CEO is like being any other kind of a leader. You need to have an
“there were no boundaries to serving” “focus on people ... and on using our knowledge of the numbers to drive change”
understanding of your organization and the competitive environment, and then—together with your team—you need to come up with a plan that can be successful. You need to be able to bring people together, and motivate them to go out fight hard to execute the plan. These things, along with the right personal values, should help you be successful. Good timing and/or good luck are also part of most success stories.
What advice would you give to a CPA who aspires to get involved in your field?
Learn everything you can. One of my reflections from school was that understanding and then mastering the basics is a lot more important than I thought it was at the time.You need to actually understand subjects like economics and English and so forth, and understand them well.You need to be able to think critically about problems, be creative about solving them and clearly articulate a path forward. The other bit of advice I typically give people is to “go for it.” Take some risk with your career. Sometimes I see people play it safe. I think they should take a little risk, have fun, figure out what it is they really want, and go for it. Every business needs people who understand the numbers and who can help to keep the business on track. We do need to balance this with a focus on people, and a focus on using our knowledge of the numbers to drive change.
www.wscpa.org
MY CPA STORY
C
armen Aguiar grew up in the Big Apple and graduated from Hunter College, City University of New York. Her new career as a tax accountant took her to Park Avenue, only 20 blocks away from where she received her college education. Eventually, Carmen tried a stint working away from public accounting, but a desire to create a family firm serving families brought her where she is today: the CEO and founder of a boutique CPA firm in Bellevue,Washington.
Tell us about how your career got started.
Upon graduation from Hunter College, City University of New York, I joined Arthur Young’s very first Tax class directly into the Tax Department without Master or JD degrees. The “Big Eight” firms were trying the direct entry with only a Bachelor’s into the Tax Department for the first time. I worked with the Financial Institutions and High Net Worth group. Some of the clients I worked with included American Express, PaineWebber (now UBS), Time Warner, and Mobil. In New York, I was a member of the Firm when we merged with Ernst & Whinney to become Ernst & Young. I then moved to Seattle and continued with the Firm working primarily with expatriates and inpatriates. After Ernst & Young, I worked for a software company in Bellevue as an accounting manager. I realized what I really enjoyed was public accounting and working with different people and if I were to stay in Seattle (where my husband wanted to be); I would start my own practice that while small could also be international. I was enjoying traveling and felt there were no boundaries to serving. I wanted to create a firm where CPAs and professionals can do what they love but with flexibility. In 1993 I founded The Aguiar Group. Today we serve multi-generational families and their businesses in taxation consulting and compliance, as well as personal financial planning. We serve clients locally, nationally and internationally. www.wscpa.org
What advice would you give to a CPA who aspires to establish a boutique CPA firm?
Our profession is a great profession that is constantly changing and affects every element of life. It is challenging and very rewarding as you see small businesses and families grow and thrive as they reach their goals. It is rewarding to help businesses and families transform as they traverse financial challenges and opportunities that also affect the nonfinancial aspects of their lives. Our global economy provides opportunities across borders for even the smallest of businesses. It is an exciting time to have a key role in helping entrepreneurs and families achieve success.
What skills are essential for success running your own firm?
Strong values and ethics, communication and technical skills, teamwork and leadership,love for families,small business and community. A desire to stay current on tax and financial issues. An ability to adapt and grow by challenging yourself and others.
“I realized what I really enjoyed was public accounting and working with different people and if I were to stay in Seattle (where my husband wanted to be); I would start my own practice that while small could also be international.” You served as WSCPA Chair of the Board of Directors in 2009-10. What role did being a member of the of WSCPA play in your career?
I was very involved with the Washington Society of CPAs and then the American Institute of CPAs for many
Carmen Julia Aguiar, CPA/PFS, CGMA, CFP years. As a small firm, my involvement keeps me in tune with what is happening locally, nationally and internationally. I developed leadership skills and worked with great people, many of whom remain great friends. Our fellow colleagues do become your best friends along the way. We are a group of professionals that truly want to contribute to our communities and protect the public.
Can you share your involvement with other boards and organizations in the area?
Thanks to the respect for our CPA profession, I have been involved with numerous boards, not-for-profit to governmental to financial institutions and banks to privately-held companies. I served on the Federal Home Loan Bank of Seattle, which is basically a bank for banks. I have been very involved and served as chairman of a community bank in Seattle. My skills have helped me to navigate and work with regulators during very challenging times.
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MY CPA STORY
L
aurie Tish has been in public accounting for over 30 years, and although she has always practiced in the assurance field, her work has encompassed many different industries and has included a wide variety of consulting projects, in addition to audits of financial statements. Currently, Laurie is the national practice leader for Government Services for Moss Adams LLP, and in her additional role as an Industry Group Leader for the firm, she also works with the higher education, tribal, not-for-profit, federal and utility practices. In addition to serving as the audit partner for some of the largest governmental entities in the Puget Sound region, Laurie also serves as the audit partner for some of Moss Adams’ clients’ corporate sustainability reports.
The area of corporate sustainability audits sounds interesting; is this a new area for CPAs?
Though Moss Adams has practiced in this area for over a decade, the role of CPAs in providing attest services for corporate social responsibility reports or even integrated reports, is slower to catch on in the U.S. than in Europe or Asia, where it is often legally mandated that such reports be audited or verified. There are a small number of leading companies in our country who voluntarily have their reports verified by CPAs and I have the pleasure of working with a few of those. I do believe that this practice area will continue to grow, not only for attestation of CSR reports, but also supply chain and vendor code of conduct compliance.
What stands out to you as one of the greatest benefits of your long tenure in public accounting?
The ability to live, work and travel internationally has always been a welcome benefit to my career in public accounting. Early in my career I had the opportunity to live in England while working in the London office of Touche Ross & Co., and last year I took a sabbatical (under the Moss Adams partner sabbatical program) and moved my family to Paris, France where we lived
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for four months. My husband and I explored the city and enjoyed the urban Parisian lifestyle during the day while our two children attended an international school.The ability to take a break from the fast pace of work, to live in a different culture and travelxextensively throughout Europe was the experience of a lifetime. I have governmental clients in the South Pacific, and two of my corporate sustainability clients have European operations, so I am able to continue to travel regularly.
Can you tell us about your professional/civic activities?
I believe in the importance of giving back to the profession. I have been a member of the WSCPA Government Accounting and Auditing Committee for over 25 years and regularly attend WSCPA events. I was past chair and member of the Washington State Board of Accountancy for 12 years and currently serve on the Board of Directors of the National Association of State Boards of Accountancy and on the AICPA Professional Ethics Executive Committee.
“It’s a constant challenge finding the delicate balance between being overwhelmed and overcommitted versus following a passion and knowing when to take a leap.” Any advice on how to manage career, family and personal time, and still participate in professional/civic activities?
My advice would be to not let a busy schedule deter you from evaluating and accepting exciting opportunities in either your professional or personal life. Priorities can be shifted; committees and activities can be changed. When I was seven months pregnant with
Laurie J. Tish, CPA my first child, I was asked by the Governor to sit on the State Board of Accountancy. I was hesitant; I had a demanding full-time career and sat on two civic boards in addition to various professional related activities, all with a new baby on the way! I made a fateful (and in hindsight) excellent decision. I joined the State Board of Accountancy and then to make some room in my schedule, I subsequently declined to renew my terms on the civic boards. Taking that path led me to the leadership positions I held with the State Board of Accountancy for many years and into my current role as a board member on the National Association of State Boards of Accountancy. It’s a constant challenge finding the delicate balance between being overwhelmed and overcommitted versus following a passion and knowing when to take a leap. To accomplish it, you need to be open to new opportunities and realize that tough choices regarding how to best spend your time will need to be made as each new opportunity arises.
www.wscpa.org
2014-2015 AWARDS
2014-2015 Awards
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very year the WSCPA recognizes individuals and businesses for making a difference in their communities, providing outstanding service, dedication or leadership to advance the accounting profession and the Society. Congratulations to this year’s honorees!
John L. O’Brien Lifetime Achievement Award Robert Ash
Company of the Year Award CAMICO
Special Award & President’s Award Ann Young
For an exemplary career of leadership and service to the accounting profession
For continuous support of the WSCPA through membership, volunteering, program participation and sponsorships
For continuous and unwavering support to the many members of the WSCPA. Your efforts have touched us all.
Robert Ash was on the WSCPA Board of Directors in the late 1960s, serving as Chair in 1969. Bob enjoyed a long career with PricewaterhouseCoopers, until he retired as Partner in charge of the Los Angeles Area and the Western Regional tax practice. He served on dozens of boards in the Seattle area and in Los Angeles, proving his dedication to community service and being an outstanding role model to CPAs everywhere. Bob has been a CPA since 1956 and a member of the WSCPA since 1955. He retired in 1986 and currently lives in Bellevue.
CAMICO has provided ongoing and generous support to Washington CPAs and the WSCPA for many years. CAMICO has sponsored events and has been the Society’s preferred provider of professional liability insurance. “CAMICO has consistently provided excellent service to WSCPA members and supported the Society’s conferences and networking events,” said Kimberly Scott, WSCPA VP of Member Services. CAMICO is the nation’s largest CPA-directed program of insurance products and risk management solutions for the accounting profession. For more than 28 years, CAMICO has been dedicated to the security and success of CPAs.
Ann Young, who joined the WSCPA as the Association Secretary in 1990, has provided assistance, guidance, and friendship to members, directors, and especially staff for more than 25 years. “Everyone who knows Ann is immediately struck by her kindness and her welcoming attitude,” said Rich Jones,WSCPA President & CEO. During her career with the WSCPA Ann has done it all from answering the phone to being staff liaison to the board of directors as the Manager of Governance and HR. Ann retired in June 2015 and is spending her retirement reading, gardening, and travelling to see her children and grandchildren.
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2014-2015 AWARDS
Special Award
Outstanding Volunteer Leader Award
New Professionals Award
Maria Rinaldi
Mary Joyce, CPA
Benjamin Anderson, CPA
For extraordinary effort and leadership in database project management for the WSCPA
For innovative leadership and dedication to the WSCPA Not-for-Profit Committee
For passion and commitment to the WSCPA and the Olympia Chapter
A project manager at Abila, the provider of the WSCPA’s new database, Maria Rinaldi has lead the WSCPA through this software implementation project for three years. She has provided exceptional service and support to WSCPA staff. “Maria is amazing! This project has been extremely challenging right from the beginning. She immediately understood what we wanted to do. She would hear about a problem and recommend a way in the database to help us solve it while also trying to keep costs low,” said Trina Doty, CFO of the WSCPA. Currently working for Abila in the Chicago area, Maria leads her clients through their software implementation. Originally from Poland, Maria immigrated to the US as a teenager with her family. She learned English and graduated summa cum laude with a BS in Computer Information Systems from DeVry University.
Mary Joyce has been actively involved with the WSCPA Not-for-Profit Committee for more than 20 years. As committee chair for 2014-2016, Mary has been instrumental in strengthening participation and engagement during the committee’s meetings. “Mary brought forward a vision of how technology could expand and grow the committee and the NFP conference. Thanks to her leadership, the committee now leverages current technology to allow members to participate in CPE remotely, as well as to share ideas and grow their networks,” said Hayden Williams, WSCPA VP of Education. All NFP committee meetings now have webcam capabilities, so all the committee members can see and hear each other. A CPA and WSCPA member since 1984, Mary is a shareholder with The Myers Associates, P.C. in Seattle.
A WSCPA member since 2011 and an active member of the WSCPA Olympia Chapter, Benjamin Anderson became a CPA in 2014 and now serves on the chapter’s board of directors, where he displays “enthusiasm for the profession, personal interest in the members and a commitment to the community.” Ben has been instrumental in organizing events in Olympia for students and others seeking careers as a CPA. He can be counted on to find quality speakers for CPE and steps up to the plate to lead. Ben is a CPA at Littlefield, Siminksi & Co. in Olympia. He graduated from The Evergreen State College with a Bachelor of Arts with an emphasis in Sustainable Business and Economics. He completed a fifth year of accounting at South Puget Sound Community College (SPSCC). Currently, he serves on the Business Advisory Board to SPSCC.
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www.wscpa.org
2014-2015 AWARDS
2015-2016 Awards Call for Nominations
Submit your nomination for 2015-2016 awards by March 15, 2016 at www.wscpa.org/community/awards
2014 Elijah Watt Sells Award
Rising Star Award
Chair’s Award
Angela Chase
Peter Miller, CPA, CFE
For enthusiasm and active support to the WSCPA
For leadership and advocacy on behalf of the CPA profession and the WSCPA
As a student, Angela Chase joined the WSPCA in 2013 and joined the South King County (now Tacoma Area) Chapter Board as the Secretary in 2014. She has been instrumental in planning networking events in the Tacoma area and has been an active supporter of the WSCPA on the UW-Tacoma campus. She has helped in creating connections between local CPAs and students in Tacoma. Angela is finishing her bachelor’s degree in business administration - accounting at the University of Washington-Tacoma and in preparing to sit for the CPA exam. Born and raised in the Olympia and Tacoma areas, Angela is starting her accounting career with DaVita’s Evergreen Team as a SOX analyst.
Earlier this year Pete Miller provided testimony in support of House Bill 1263, which provides CPAs with an exemption from any requirements of the Private Investigators statute that might arguably require CPAs to obtain a Private Investigator license. A former WSCPA board member, Miller is a shareholder in the audit and assurance practice at Clark Nuber PS, in Bellevue, Washington. Pete serves privately-held and closelyheld businesses in a wide range of industries and sizes and provides executive leadership to a number of concurrent teams conducting audits, reviews and compilations. In addition to these duties, Pete directs Clark Nuber’s Forensic Accounting and Fraud Investigation practice. Pete has been a CPA since 2000 and a CFE since 2006.
Congratulations to the four CPA candidates in Washington who received the 2014 Elijah Watt Sells Award. The award is bestowed upon candidates who have obtained a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, passed all four sections of the Examination on their first attempt and completed testing in 2014.
William Chandler
Margaret Freeland
Matthew Mburu
Joe Viraldo
www.wscpa.org
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LEADERSHIP LENS
Auditing Employee Benefit Plans (continued from page 4)
have increasingly required that firms that do attest work undergo a peer review every three years and provide the state board with the results. So a program that was designed to assist practitioners in improving their quality and that provided them with some protection from having their results become public has evolved to be a part of the regulatory scheme. Many changes in the peer review program have been enacted in the past few years to improve the reliability of the program. This includes significantly increased training for all peer reviewers and competency assessments to ensure they are qualified to perform the work. State societies and the AICPA have worked together to produce many new
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training resources for CPA firms and peer reviewers that focus on the unique challenges of auditing employee benefit plans. Additionally, firms that receive less than a passing grade on their peer reviews for two consecutive reviews will now be subject to a hearing to determine if they should be allowed to continue in the peer review program, which could result in a state board of accountancy review to determine if the firm should be allowed to conduct attest engagements. For a good discussion of what the profession is doing to improve the quality of all audits, go to AICPA.org and search for these reports: •
Future of Practice Monitoring Community
• •
Enhancing Audit Quality—Plans and Perspectives for the U.S. CPA Profession Six-Point Plan to Improve Audits
My assessment of the DOL’s review and report is that they did a thorough job conducting the review and presenting their findings. I believe the profession is taking this report very seriously and has been implementing many changes over the past two years to enhance audit quality in general and for employee benefit plans specifically. We all need to do our part to make this happen. If you have feedback that you would like for me to share with the Peer Review Board, please send it to me at rjones@ wscpa.org and I will make sure they get it.
www.wscpa.org
ADVOCACY
A Lot to Be Aware of By Kimberly Scott, CAE
Locally
The last couple months have been busy at the state level and nationally. In the last issue of this magazine I talked about two bills that the WSCPA proposed. I have great news: both bills passed! CPAs in Washington now have an exemption in the Private Investigator’s statute.The language of the Private Investigator’s statute, as it stood previously, contained a possibility that certain kinds of investigative work that fall under a CPA’s purview, such as fraud investigation, could require a private investigator’s license.The cost of obtaining a license for the individual and the firm would have been expensive and would mean that CPAs reported to two licensing bodies. Failure to obtain the license could have led to legal issues for individual CPAs or for those testifying in court. Although this fear had not yet been borne out on the national level, we wanted to be proactive and head off any issues with Bill #1263, which provides an exemption for CPAs. The bill was signed by the Governor on April 24th and effectively becomes law on July 24, 2015. The actual language of the bill as to whom is exempted from the statute is: (12) A certified public accountant regulated under chapter 18.04 20 RCW or the employee of a certified public accountant performing duties within the scope of public accountancy. You can find more information about the statute under RCW 18.165.020 in Washington. The second bill, #5534, was a bit more challenging. The bill creates a scholarship program with what some considered a surplus of funds at the Washington State Board of Accountancy (WBOA). The WBOA is funded solely from CPA and firm licensing fees, and according to the statute, the money is only allowed to be used for the regulation of CPAs. While trying to work out some of the state’s budget issues, legislators prowww.wscpa.org
(Top:) Governor Jay Inslee signs House Bill No. 1263, April 25, 2015. WSCPA President & CEO Rich Jones (far right) witnessed the signing. (Bottom:) Inslee signs Substitute Senate Bill No. 5534, May 8, 2015. On hand to witness the signing: Kimberly Scott, WSCPA Vice President of Member Services; Rick Sweeney, Washington State Board of Accountancy Executive Director; Rich Jones, WSCPA President & CEO; Brett Jordan, Washington CPA Foundation Board Chair; Lisa Thatcher, WSCPA Lobbyist; Heather Fitzpatrick, WSCPA Board Chair; Lois Swenson-Grudt, WSCPA Member Volunteer Coordinator.
posed sweeping the fund balance from the WBOA into the state’s general fund. This was first proposed a couple of years ago, and many WSCPA members stepped up to the plate by writing or calling their legislators, and were able to prevent that from happening. Once again though, the fund balance was a target, and we knew that a long-term solution had to be reached. The bill proposed a scholarship
program that would utilize the funds to help future CPAs, thus keeping the funds working for the profession. Bill #5534 was signed by Governor Inslee on May 8, 2015 and became effective immediately. The new state budget that was signed on June 30th moves $3.3 million from the WBOA into the account bill #5534 created over the biennium. The Washington CPA Foundation, the WashingtonCPA Summer 2015
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ADVOCACY
WBOA and the WSCPA will be working on contracts to create the new scholarship program. Although there is a lot of work to be done, there is a lot of excitement around providing substantive scholarships for a greater pool of talented students in Washington. If you have or know of a college student studying accounting in Washington State, make certain they apply (see page 29 for details).
Nationally
In mid-May, key WSCPA leaders attended the AICPA council meeting in Washington, D.C. The meeting was extremely informative as to what is happening at a national level that may affect the profession. WSCPA leaders met with Washington State congressmen and women as well as our senators or their key staff. The topics that were discussed
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included: the cash basis method of accounting, creating a structured response for tax relief for natural disaster victims, mobile workforce legislation (allowing a minimum of days worked in a state before you need to pay income tax), and the level of service and other issues at the IRS. Our state has some great representatives who are willing to listen to our issues, ask questions and respond to our requests. They are always happy to hear from constituents. If you ever go to Washington, D.C., try to stop in and visit your congressman or woman. Another emerging issue is the recent Department of Licensing (DOL) report, released on May 28, 2015, regarding audits of employee benefit programs. On page 4, Rich Jones discusses the report’s key findings, some of which are not favorable. The AICPA and NASBA have been working with the DOL to learn more
about the issues and how to create better training, support and reviews. If your firm audits employee benefit plans, this will certainly be of interest to you. The full report is located here: www.dol. gov/ebsa/pdf/2014AuditReport.pdf There is definitely a lot going on that touches the accounting profession. You can expect to see changes in the not too distant future around continuing education, peer review, global standards and more. Change can be overwhelming, but it also means there is a need for CPAs and that need is growing! Kimberly Scott, CAE, is WSCPA Vice President of Member Services. You can contact her at kscott@wscpa.org.
www.wscpa.org
SOCIAL SECURITY
Maximizing Your Client’s Social Security: The Landscape has Changed By Roy T. Thompson, CPA, Pillars, LLC
T
he U.S. Census Bureau estimates 65.2 million “Baby Boomers” (Boomers) were alive and well in 2012. The Social Security Administration estimates that 10,000 Boomers are retiring each and every day and moving on to the next chapter in their life.The landscape is changing and will remain changed for the next 17 years. As a professional you will be affected by this change because Social Security benefits have been called “the single most important retirement benefit for the average American worker.” A majority of pre-retirees and retirees are not getting advice from you, the CPA, because it is no secret that most are unprepared for retirement. Although many retirees are concerned about health care issues and longer life expectancies and its impact on their retirement, for most it is a walk into the unknown.
According to the Social Security Administration, Master Beneficiary Record,Table 6.B5.1, 2013, 62.35% of all retirees elected to begin receiving benefits early and accepted less than full retirement age (FRA) benefits. Much more staggering is the fact that 38.5% of all retirees voluntarily accepted the minimum benefit. Why? Some of the reasons are probably financial, some are emotional; but most, I assert, would be because of a lack of proper advice. The full retirement age (FRA) for Social Security is 66 (if you were born between 1943 and 1954). The FRA is slightly higher or lower depending on your birth year in relation to the above. Example: if your birth year is 1956, your FRA is 66 and 4 months or if your birth year is 1940, your FRA is 65 and 6 months. The Social Security benefit at FRA is 100% of your computed benefit or Primary Insurance Account (PIA).You may retire as early as 62 (remember the 38.5% of the retirees), but would receive a reduction of 25% from your PIA benefit. Actually the reduction is computed as 5/9 of 1% for each month prior to FRA, up to 36 months or 5/12 of 1% if the number of months exceeds 36. Example: John’s monthly benefit at full retirement age (FRA) is $2,000. (See Table 1.) www.wscpa.org
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It has been the tendency of our profession to downplay Social Security and its importance for our clients, but in reality it is probably their largest retirement asset: a lifetime, inflationprotected annuity, with rights of survivorship. More than ever before, people between the ages of 55-66 are looking at Social Security differently and so should you. On the radio, in the news, and on the internet, they are overwhelmed with money that is safe, guaranteed, protected, and free reports. They will get their answers, right or wrong, from somewhere. Is your firm prepared to “change the landscape” of your practice?
TABLE 1 Retirement age Reduction Social Security check
62 -25% $1,500
66 $2,000
I know what you are thinking: John gets $1,500 per month for 48 months by retiring at 62 over 66. That amounts to $72,000. That is true, but the Break Even (BE) Point for John is age 77. John will lose if he lives past 77 and his normal life expectancy, according to the Social Security Administration, is 85 years.This move could cost John $48,000 at age 85. You may claim your benefit as late as 70 (actually you can retire even later, but all benefits stop accruing at age 70). If you choose to retire after age 66, you are rewarded with Delayed Retirement Credits.This credit is 8% (2/3 of 1% for each month WashingtonCPA Summer 2015
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after age 66) per year to age 70 or 32%. Example: John’s full monthly benefit at full retirement age (FRA) is $2,000. (See Table 2.) TABLE 2 Retirement age Reduction Social Security check
62 -25%
66 -
70 32%
$1,500
$2,000
$2,640
John’s BE point at age 62 over age 70 is between 79 and 80 years old. If John lives to his normal life expectancy of 85 and selected to delay retirement to age 70, his accumulated benefit over retiring at 62 would be almost $75,000. If you were John would you not want this kind of information? John has a spouse named Janis and both are ready to retire. Everything about John is the same as above and Janis‘s monthly benefit at FRA is $750. John and Janis are the same age. We will not go over the joint benefit BE point but the Spousal Benefit. The Social Security law allows for special benefits for spouses meeting certain criteria: spouse can be of either sex, currently married or former spouse, and is or has been legally married to the worker. If state law recognizes a relationship as a legal marriage, so does the Social Security Administration. The worker must have filed for Social Security and the spouse must be at least 62 or caring for a dependent child. The rules for a former spouse are somewhat more complex. The spousal benefit is 50% of the worker’s FRA benefit. John must have filed for Janis to proceed. If 50% of John’s benefit exceeds Janis’s benefit, then she can file for spousal benefits. Example: John’s monthly benefit at full retirement age (FRA) is $2,000 and Janis’ monthly benefit is $750. Both file on own work record. (See Table 3.) TABLE 3 JOHN 66 $2,000
JANIS 66 $750 $250 $1,000
Retirement age FRA benefit Spousal benefit Social Security check $2,000 If Janis (or John for that matter) chose to file for benefits, but restrict those benefits to spousal benefits only, she/he would receive spousal benefits while his/ her own benefit grew because of the delayed retirement credit (remember 32%). Example: John’s monthly benefit at full retirement age (FRA) is $2000 and Janis’ monthly benefit is $750. (See Table 4.) Janis files Restricted and receives Spousal benefit while her benefit grows. At age 70 both individuals file on their own
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work record.Table 4 compares: 1) filing early at 62 for both John and Janis (remember 38.5% of all retirees do this) against 2) John filing for his benefits at 66 and Janis filing Restricted at 66 for Spousal benefits, but switches to her own benefits with the 32% delayed credit addition, against 3) John filing Restricted at 66 for Spousal benefits switching to his own benefits with the 32% delayed credit addition. However with strategy #3, Janis switches to Restricted at 70, drawing 50% of John’s benefits which do not reflect the delayed credit increase. Here we have the same individuals with the same situation, but treated with three different claiming strategies resulting in much different results. A comparison of the three claiming strategies shows clearly that strategy #1 is a clear disadvantage to your client, unless financial or emotional factors dictate otherwise. However 38.5% of all retirees (and maybe 38.5% of your clients) settle with Strategy #1 and lifetime benefits of $594,000 in this example. You could offer to review their retirement goals and recommend claiming strategies to maximize their Social Security lifetime benefits such as #2 and #3. The lifetime benefits for strategy #2 is $720,000 and #3 is $752,880, respectively. The difference is significant and could influence your client’s standard of living during their retirement years. In addition to strategy #3 being more than $126,000 over strategy #1, and $32,880 more than strategy #2, it has a higher Survivor Benefit (first orange). We cannot go into this with much depth but, basically speaking, one spouse could outlive the other by many years and, if meeting certain criteria, would be entitled to 100% of the deceased spouse’s benefit while relinquishing his or hers. Usually, the woman outlives the man and the man has been the higher wage earner. The survivor benefit under claiming strategy #1 is $18,000, claiming strategy #2 is $24,000, and the amount is $31,680 under claiming strategy #3. Areas that are often neglected in determining a maximum Social Security benefit are Retirement Age, Spousal Benefits, WEP and GPO, Restricted Applications, File and Suspend, Re-Dos, Lump Sum Benefits, Divorced, Widow and Family benefits,Taxation of benefits, and others that cannot be considered in this article. This neglect is both frequent and unfortunate, but preventable. The landscape has changed; are you ready to change with it? Roy T.Thompson, CPA is co-founder of Pillars, LLC, a firm dedicated to providing professional Social Security advice. Mr. Thompson has over 30 years’ experience in public, governmental and educational accounting. Pillars, LLC, deals strictly with Social Security decisions and will not advise on investments, insurance or taxes. Pillars, LLC is a licensed and certified National Social Security Advisor, certified by the National Social Security Administration.We assist individuals and firms wishing to assist their clients to maximize their Social Security benefits. Roy T. Thompson can be reached at (601) 566-0331 or rthompson@pillarsllc.com or www.pillarsllc.com. www.wscpa.org
SOCIAL SECURITY
It has been the tendency of our profession to downplay Social Security and its importance for our clients, but in reality it is probably their largest retirement asset: a lifetime, inflation-protected annuity, with rights of survivorship.
TABLE 4
Age
Claiming Strategy # 1: JOHN JANIS Files @ 62 Files @ 62
Claiming Strategy # 2: JOHN JANIS Files @ 66 Restricts to Spousal @ 66
62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85
$18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $18,000 $432,000 Total
$0 $0 $0 $0 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $480,000 Total
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$6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $6,750 $162,000 $594,000
$0 $0 $0 $0 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $240,000 $720,000
Claiming Strategy # 3: JOHN JANIS Restricts to Files @ 66 Spousal @ 66 Switches to Switches @ 70 Spousal @ 70 $0 $0 $0 $0 $0 $0 $0 $0 $4,500 $9,000 $4,500 $9,000 $4,500 $9,000 $4,500 $9,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $31,680 $12,000 $524,880 $228,000 Total $752,880
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© iStock Mattjeacock
IFRS Adoption in the United States: The Latest Developments By C. William Thomas, CPA, Ph.D.
A
decision on the potential adoption of International Financial Reporting Standards (IFRS) by U.S. issuers has been a topic of great interest in recent years. In 2008, the Securities and Exchange Commission (SEC) recommended that U.S. Generally Accepted Accounting Principles (GAAP) be replaced with IFRS by 2015. However, these plans were placed on hold with the financial market collapse in 2009 and 2010. Since the plans for complete IFRS adoption were put on hold, the SEC has been very non-committal on when, if ever, it would require adoption of IFRS in the U.S., and finally decided to put it on hold indefinitely. U.S. companies and investors are anxiously awaiting a decision by the SEC as the impact on worldwide capital markets would be quite significant.
The Potential Path Forward
On December 8, 2014, the new Chief Accountant of the SEC James Schnurr gave a speech before the American Institute of CPAs National Conference that, in part, discusses the status of IFRS issuance in the U.S. Schnurr began by assuring listeners that the focus on IFRS continues to be a top priority of the SEC and that clarity on what action, if any, that would be taken would hopefully come sooner rather than later. Although no official plan of action was laid out for the adoption of IFRS by U.S. issuers, Schnurr implied that, rather than requiring U.S. companies to use IFRS, the SEC might move toward a system that reports the IFRS information on a voluntary, additive basis, in addition to U.S. GAAP. Voluntarily reporting IFRS information in addition to GAAP would be costly to the companies that choose to do so, making widespread adoption unlikely. However, Schnurr suggested that this voluntary system may be a good starting point for IFRS issuance in the U.S. “Under www.wscpa.org
this line of thinking, issuers that do not believe IFRS-based information would be beneficial to investors would not be forced to undertake what we understand to be, in some cases, significant implementation costs,” he said. Schnurr emphasized that the voluntary reporting system is just a possible example of an action that may be taken by the SEC in the future. “Based on the progress of our collective efforts, I am hopeful to be in a position in the coming months to commence discussions with the chair and the commissioners about the different alternatives for potential further incorporation of IFRS and the related issues/ concerns of each alternative with the objective of reaching a recommendation on what, if any, further incorporation or use of IFRS by U.S. registrants would be permitted or required,” he stated.
Will This Plan Work?
The voluntary reporting system informally proposed by Schnurr raises some key questions: Will U.S. companies adopt the voluntary reporting of IFRS-based information? And if so, how many? The benefits received from voluntarily reporting IFRS-based information in addition to GAAP would have to outweigh the costs before any rational company would do so. This cost-benefit dilemma will likely limit the number of initial adopters.The SEC is also uncertain at this time how successful this proposed plan may be. When International Accounting Standards Board Vice Chairman Ian Mackintosh was asked how many companies might take it up, he responded: “We don’t know. I have no real feel.” However, despite the cost, reporting IFRS-based information could be beneficial to some U.S. companies. For example, U.S. companies that compete with foreign private issuers using IFRS may be willing to adopt the voluntary reporting. This would provide their investors with more
comparable information, as well as provide benchmark information that may be useful for the company. Also, implementing and adjusting to IFRS requirements early could provide a future competitive advantage for companies, especially if the SEC decides to make IFRS compliance mandatory. These early adopters would be able to fine-tune their IFRS reporting system over time without the pressure of a more rapid mandatory conversion. SEC Commissioner Daniel Gallagher said that this plan could help establish whether there is a demand for IFRS reporting for U.S. issuers. However, Mackintosh stated that it might not be a relevant test for market demand if few choose to adopt the option.
Final Thoughts
Once again, the SEC has continued to be vague about a set plan. And although the possible plan proposed by Schnurr provides some insight on the SEC’s stance on this important topic, there is still a great deal of uncertainty regarding what will happen in the future. Many doubt that the benefit of voluntarily providing IFRS-based information will outweigh the cost, therefore deterring widespread adoption. In short, if you want people to do something, you have to require it, rather than ask them to do it as an option. C. William Thomas is the J.E. Bush Professor of Accounting in the Hankamer School of Business at Baylor University in Waco, Texas. Thomas can be reached at Bill_Thomas@ baylor.edu. Reprinted with the permission of Today’s CPA, a publication of the Texas Society of Certified Public Accountants. This article represents the opinions of the author(s) and are not necessarily those of the Texas Society of Certified Public Accountants. WashingtonCPA Summer 2015
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EVENTS
Networking Events
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LEADERSHIP
Know Yourself, Show Yourself By Tim Russell
L
et’s be honest.There isn’t much new on the topic of leadership. We know what it looks like. We know what it doesn’t look like.We know who the leaders are. We know who they aren’t. Even the most humble person has a general understanding if they are a good leader or not. Nevertheless, the business community is obsessed with learning more about leadership. We have the latest books on our shelves and we keep up to date on the fashionable leadership trends. We hire keynote speakers to share their ideas with us. We hang on their every word and we take notes hoping their wisdom will rub off.
is simple and predictable. The behaviors we demonstrate when we are at our best as leaders are not unlike the behaviors the greatest leaders have shown throughout time—they may have just had a bigger stage.
Know Yourself
Are you an honest leader?
Leadership experts and authors of The Leadership Challenge Jim Kouzes and Barry Posner have been conducting the same simple, yet elegant, study for decades. Their research is composed of one question: “What are the most admired characteristics of leadership?”
In the context of leadership, honesty isn’t about telling the truth, although that’s part of it. Honesty is about the sincere demonstration of behaviors that support your love affair with your idea. If you are willing to demonstrate behaviors that support your idea, rather than keep it hidden, people will know why they should follow you.
Here’s a test. Grab some friends or co-workers and discuss these questions: 1) When were you at your best as a leader? 2) What conditions existed (i.e., resources, support, the need to change, etc.)? 3) How do you know you were at your best? Chances are you observed similar themes in your conversation. There are norms of leadership, and when you are at your best, those norms are similar to what others experience. It’s not that you aren’t special. It’s because leadership www.wscpa.org
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Stop it. You already know what good leadership is. The reason we read the books and listen to leadership gurus isn’t because we want to define leadership. We do what we do to demystify the behaviors that leaders demonstrate, even when we already know what those are. What’s hard is having the courage to demonstrate those behaviors ourselves.
In order to demonstrate honesty in that which you believe, and would ask others to follow, you must believe in something. We don’t follow leaders because of their charisma, at least not for sustained periods of time. We follow them because we believe in their cause and we trust them. Boyd Clarke, friend, mentor and co-author with Ron Crossland of The Leader’s Voice told me once, “Leadership is a love affair with an idea, and an act of faith in people.”
Since the beginning of their research, the same four answers to that question have surfaced consistently across all demographics. Agnostic to socioeconomic class, organizational size, age, gender, race, and geography, people want the same things in their leaders: honesty, inspiration, forward-looking thinking, and capability. The top vote-getter is always honesty. Good leadership is defined in many ways, but the best and most trusted leaders are almost always viewed as honest.
What is an idea if it’s not the vehicle to prove your beliefs? Edison’s light bulb was as much about innovation as it was about illumination, and maybe more so. Edison said, “To invent, you need a good imagination and a pile of junk.” The light bulb was simply the manifestation of his beliefs: a love affair with an idea, and a lifetime spent demonstrating behaviors of creativity. He happened to invent a light bulb, but it may as well have been a toaster oven. It didn’t matter what he created— what matters is that he created. What idea are you in love with?
Show Yourself
Knowing yourself starts with your values and ends with the sincere demonstration of them. For example, if you stand for patriotism, you may choose to honestly demonstrate actions in service WashingtonCPA Summer 2015
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to that value. My grandfather, a WWII veteran, stood every time he saw a flag raised and communicated his disgust with those who didn’t stand when the red, white and blue passed by in a parade. His actions demonstrated his beliefs. My grandfather’s values were clear to him, but sometimes what we care about is elusive to us. Could you rattle off your top five values right now, the characteristics that would make you stand up and salute? If not, the cost is that your people don’t know why they should follow you. If you don’t know yourself, how can they know you, and why would they follow? Good leaders make choices not only to clarify their values, but find ways to deliberately exhibit them. Even if our values are challenging or conflicting to others, honest demonstration of who you are earns respect. My 7th grade teacher would start each
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school day by telling us her mood. I recall being amazed at this level of honesty from an adult in an authoritative position. Subsequently, her truth built trust and connection with her class, in a way that made her a leader I was willing to follow, even as a rebellious non-conforming pubescent. Steve Jobs was obsessively dedicated to “simplicity, but refined sophistication.” He was honest in his passion and the words to support this belief. Sometimes as a result of his obsession, he would hurt those that stood in the way of his goals. Yet, Apple’s bottom line, employee dedication, and customer passion for its products, typify the results an honest leader gets: followers who understand their leader’s vision. Likewise, if you are honest with yourself and you know your values, you might even positively yet inadvertently show others what you stand for. There are
many clichés in service to this possibility, such as, “actions speak louder than words.” Having values clarity will allow intentional and accidental demonstration of the things in which you believe. You can’t show yourself until you know yourself. Let’s be honest. There isn’t much new on the topic of leadership, but there may be something new you can do. Know yourself. Show yourself. Be honest in the pursuit of both. Tim Russell is Manager of Organizational Development at Nintendo.You can contact him at timrus01@ noa.nintendo.com.
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2015-2016 Scholarships Accounting Students Receive $64,000 in Scholarships By Kimberly Scott, CAE, Executive Director, Washington CPA Foundation
Aguiar Group Accounting Scholarship
The Washington CPA Foundation is extremely grateful that so many WSCPA members choose to contribute to the Foundation.
Martha Ramirez Central Washington University
Your generous contributions ensure that the Foundation can continue to foster the next generation of CPAs in Washington State through scholarships. Not only are you helping the students listed here, but you are also ensuring the successful future of accounting in Washington State. For the 2015-16 school year, the Foundation awarded 21 scholarships for a total of $64,000. These scholarships are possible thanks to contributions from individuals, and from organizations via the named scholarship program. Congratulations to this year’s scholarship recipients!
Baird Family Accounting Scholarship Emily Etherton University of Washington
Bill Wells Accounting Scholarship Ryan Cranke University of Washington
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Clark Nuber Accounting Scholarship Kate Harding Gonzaga University
EY Accounting Scholarship Michael De La Cruz Washington State University
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George J. Waterman Memorial Accounting Scholarship
Moss Adams Accounting Scholarship
Tara Lambert University of Wisconsin-Whitewater (PhD Candidate)
Kyle Yasumiishi University of Washington
Kellie Giang Western Washington University
PwC Accounting Scholarship
Roy J. Polley Memorial Accounting Scholarship
Washington CPA Foundation Accounting Scholarship
TrueBlue Accounting Scholarship
Washington CPA Foundation Accounting Scholarship
Kayla Heim Washington State University
Sambataro Family Accounting Scholarship
Christopher Hume Western Washington University
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KPMG Accounting Scholarship
WashingtonCPA Summer 2015
Nicole Brous Seattle University
Kelli Breland Pacific Lutheran University
Megan Rykaczewski Gonzaga University
Samantha Belleque Gonzaga University
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WASHINGTON CPA FOUNDATION
Washington CPA Foundation Accounting Scholarship
Washington CPA Foundation Accounting Scholarship
Washington CPA Foundation Accounting Scholarship
Washington CPA Foundation Accounting Scholarship
Washington CPA Foundation Accounting Scholarship
Washington CPA Foundation Accounting Scholarship
Leah Burlingame Seattle Pacific University
Morghan Kruml Western Washington University
Jonathon Davis Eastern Washington University
Cuong Luong Seattle University
Rigoberto Garcia Seattle University
Paulina Stafford Western Washington University
Thank you for your continued support of the future of the accounting profession. If you would like more information about the Foundation or how to contribute, please contact Kimberly Scott at kscott@wscpa.org.
Scholarship applications are available in the fall for the next school year. Washington CPA Foundation Accounting Scholarship Olivia White Gonzaga University
www.wscpa.org
Download an application form at www.wscpa.org/become-a-cpa. Applications are due in February 2016.
WashingtonCPA Summer 2015
29
MEMBER BENEFITS
Spend This Summer Building or Reconnecting with Your Network
D
uring the WSCPA Women’s Leadership Summit in May, keynote speaker Christopher Flett, author of What Men Don’t Tell Women About Business, shared one of his key tips: build a powerful professional network of contacts that can be leveraged for business. His magic number for a strong network was a minimum of 250 contacts to draw from.
© Fire Eyes Photography
© Fire Eyes Photography
© Monette Anderson
Summer is here and now is a great time to catch up with your professional network or take the time to build it even more to get to the magic number. Use your WSCPA resources to help you achieve your goal.
30
WashingtonCPA Summer 2015
Member Directory
Looking for someone specific you have lost touch with and would like to take out for coffee? Use the WSCPA Online Member Directory to help you find the person you are looking for. To find the member directory, click on CPA Community—and then Member Directory. If you are seeking someone who works for a specific company, you can also search by company, city and state.
LinkedIn Group
Use the WSCPA LinkedIn group to build your online connections. If you are not already a member of the WSCPA LinkedIn group, joining is easy. Go to www.wscpa.org/linkedin and click the “Join” button. Once approved, you will be able to interact with other WSCPA members engaged on LinkedIn. Ask members questions you need feedback on, share ideas, resources and more, all from the comfort of your computer.
Chapters
If strengthening your local connections is on your wish list, attending chapter meetings is a great way to meet
CPAs working or living in your neighborhood. Chapter meetings are typically 1-2 hours long over breakfast, lunch or dinner depending on your chapter. Take a few hours to catch some affordable CPE while meeting new people. Find chapter meetings at www.wscpa.org/cpe/catalog (under “Chapters” select your chapter). To contact the leaders for your chapter, visit www.wscpa.org/chapters.
Reconnect with your network this summer. Access the Member Directory, member discussions on LinkedIn, chapter information, committees at www.wscpa.org/community.
Committees
Want to meet CPAs who work in your area of practice? The WSCPA can help with that too. Join a committee that is geared toward your area of interest or practice. Whether you are an auditor, a tax practitioner, work in government or the non-profit arena, the WSCPA has a committee to match your need. To find a full list of committees or to request being added to a committee, visit www.wscpa.org/committees.
Networking Events
If you are looking for a fun social setting where you can meet new people, WSCPA networking events are the answer. These events are held at fun venues across the state.To find upcoming events, visit www.wscpa.org/events.
www.wscpa.org
CPE Digest Dreamin’ Dave, CPA
Summer. Sun. Relaxation. A stress-free sabbatical. That’s what I need.
Are you suffering from summer fever? Need a reason to work from home or escape the office? Escape with these summer CPE favorites! • •
August 26-27 August 6
Lloyd Born’s Partnership Taxation (16 CPE credits) Mark Hugh’s Webcasts: Washington CPA Ethics and New Developments (4 credits) and Washington Sales Tax and New Developments (4 credits)
And many more! See inside and register now. www.wscpa.org
www.wscpa.org/cpe/catalog
WashingtonCPA Summer 2015
31
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS
Fees
Date
CPE Credits
Course
Code
EVENTS #BY LOCATION WSCPA education and events scheduled for July-October 2015 are listed below, chronologically by location. If you are looking for a program in another location, it may be scheduled for later in the year. Using the online CPE & Event Catalog at www.wscpa.org/cpe/ catalog, you can search by location. Type
LEARN MORE To view complete course details, please visit the CPE & Event Catalog at www.wscpa.org/cpe/catalog.
For more details, search by code at www.wscpa.org/cpe
WSCPA NonAICPA Member Member Member Discount Fee Fee
NEW CPE events added throughout year to: www.wscpa.org/cpe/catalog
Facility
A&A CS EB PFP
SUBJECTS The main subject area is listed for each program.
Ethics GNP MG PD SK TAX
NEED HELP finding a seminar or webcast? Call (800) 272-8273 or (425) 644-4800.
TEC
Accounting and Auditing Consulting Services Employee Benefits Estate/Financial Planning Ethics Government / NFP Management Personal Development Specialized Knowledge Taxation Technology
Fees
Date
CPE Credits
#
Course
WSCPA NonAICPA Code Member Member Member For more details, Discount Fee Fee search by code at www.wscpa.org/cpe
Type
Subject
Facility
Ø
Subject
Bellevue 7/21
8
7/22
8
7/27
8
7/28
8
7/29
8
7/30
8
7/31
8/6
8/7
8/13
8
8
8
8
Y
Compilation and Review Standards: the Annual Update and Review by Walter Haig, 8am-4pm
16CRURJL21
315
415
WSCPA
Webcast also available
16WWCRURJL
305
405
Webcast
Accounting Standards for Small- and Medium-Sized Businesses: the annual update and review of GAAP and the Tax, Cash, and AICPA Special Purpose Frameworks by Walter Haig, 8am-4pm
16ASURJL22
315
415
WSCPA
Webcast also available
16WWASURJL
305
405
Webcast
Determining How Much Money You Need to Retire, and Tax Ideas and Money Management in Retirement, 8am-4pm
16DRMMJL
310
410
WSCPA
Webcast also available
16WWDRMMJL
300
400
Webcast
Social Security, Medicare, and Prescription Drug Retirement Benefits: What Every Baby Boomer Needs to Know Now, 8am-4pm
16SSRBJL28
310
410
WSCPA
Webcast also available
16WWSSRBJL
300
400
Webcast
The Best Income Tax, Estate Tax, and Financial Planning Ideas of 2014. Surgents’s Comprehensive Guide to Tax Depreciation, Amortization, and Property, 8am-4pm
16IEFPJL29
310
410
WSCPA
Webcast also available
16WWIEFPJL
300
400
Webcast
Transactions from Acquisition to Exchange or Disposition, 8am-4pm
16TDAPJL
310
410
WSCPA
Webcast also available
16WWTDAPJL
300
400
Webcast
HOT IRS Tax Examination Issues for Individual and Businesses, 8am-4pm
16EXIBJL
310
410
WSCPA
Webcast also available
16WWEXIBJL
300
400
Webcast
Not-for-Profit Accounting & Reporting: From Start to Finish, 8am-4pm
16NPARAU
295
395
WSCPA
Webcast also available
16WWNPARAU
285
385
Webcast
Forensic Accounting: Fraudulent Reporting & Concealed Assets, 8am-4pm
16FAFRAU
295
395
-30
WSCPA
Webcast also available
16WWFAFRAU
285
385
-30
Webcast
Excel Tips, Tricks and Techniques for Accountants, 8am-4pm
16EXLAU13
295
395
Webcast also available
16WWEXLAU
Budgeting and Forecasting Tools and Techniques, 8am-4pm
16BFTAU14
295
395
WSCPA
A&A
TAX
TAX
TAX
TAX
TAX
A&A
A&A
WSCPA
TEC
Webcast
8/14
8
Webcast also available
16WWBFTAU
285
385
Webcast
8/17
8
Financial Statement Presentation and Disclosure-A Realistic Approach, 8am-4pm
16FSPDAU17
295
395
WSCPA
A&A
8/17
8
Multi-State Taxation of Businesses, 8am-4pm
16MSTBAU17
300
400
WSCPA
TAX
Webcast also available
16WWMSTBAU
290
390
Webcast
8/18
8
Annual Accounting Update and Review for Accountants in Industry, 8am-4pm
16AAUDIAU
295
395
WSCPA
ç New | Non-tech credits |
32
A&A
TEC
A&A
Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
WashingtonCPA Summer 2015
Networking event
www.wscpa.org
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS Fees
Date
CPE Credits
#
ç
8/18
8
8/19
8
Course
Code
For more details, search by code at www.wscpa.org/cpe
Type
Facility
Subject
TAX
Navigating Divorce Tax & Litigation Issues, 8am-4pm
16NDTLAU18
300
400
WSCPA
Webcast also available
16WWNDTLAU
290
390
Webcast
Taxation of Real Estate Partnership: “Tackling Real Estate Complexities
16TREPAU19
300
400
WSCPA
Webcast also available
16WWTREPAU
290
390
Webcast
Case Studies in Not-For-Profit Accounting and Auditing, 8am-4pm
16CNFPAU
295
395
WSCPA
A&A
300
400
WSCPA
TAX
TAX
8/21
8
8/25
8
Current Federal Tax Developments, 8am-4pm
16CFTDAU25
8/26
8
Business and Industry Tax Update, 8am-4pm
16BITUAU26
300
400
WSCPA
TAX
8/26
16
Partnership Taxation, 8am-4pm
16PTSAU26
515
640
WSCPA
TAX
8/27
8
Understanding and Implementing the New Revenue Recognition Standard, 8am-4pm
16REREAU
310
410
WSCPA
A&A
8/28
8
Advanced Compilation and Review Engagement Issues: Striking the Right Balance Between Compliance, Client Service, and Practice Management, 8am-4pm
16ADCRAU
310
410
WSCPA
A&A
9/9
8
Compilation and Review Standards: the Annual Update and Review by Walter Haig, 8am-4pm
16CRURST09
315
415
WSCPA
A&A
Webcast also available
16WWCRURST
305
405
Webcast
Accounting and Reporting for Not-for-Profit Organizations, 8am-4pm
16FSNPOST
295
395
WSCPA
GNP
Accounting Standards for Small- and Medium-Sized Businesses: the annual update and review of GAAP and the Tax, Cash, and AICPA Special Purpose Frameworks by Walter Haig, 8am-4pm
16ASURST10
315
415
WSCPA
A&A
Webcast also available
16WWASURST
305
405
Webcast
The Business Financial Health Checkup: A Process to Identify Misstatements and Profitability Roadblocks Using Analytical Procedures by Walter Haig, 8am-4pm
16BFHCST11
315
415
WSCPA
Webcast also available
16WWBFHCST
9/10
8
9/10
8
9/11
8
Y
WSCPA NonAICPA Member Member Member Discount Fee Fee
Y
A&A
Webcast
305
405
9/14
8
Advanced Controller and CFO Skills, 8am-4pm
16ACCSST
295
395
-30
WSCPA
MG
9/15
8
FASB Review for Business & Industry, 8am-4pm
16FASBIST
295
395
-30
WSCPA
A&A
Webcast also available
16WWFASBIS
305
405
-30
Webcast
9/18
8
Washington Tax and New Developments, 8am-4pm
16WSTXST18
295
395
WSCPA
Webcast also available
16WWWSTXST
285
385
Webcast
Applying the Uniform Guidance for Federal Awards in Your Single Audits, 8am-4pm
16INUGST
295
395
WSCPA
Webcast also available
16WWINUGST
285
385
Webcast
Technology for CPAs: Don’t Get Left Behind, 8am-4pm
16TECST21
295
395
WSCPA
TEC
Advanced Excel, 8am-4pm
16ADEST22
295
395
WSCPA
TEC
AICPA’s Annual Update: Top Governmental and Not-for-Profit Accounting and Auditing Issues Facing CPAs, 8am-4pm
16TGNPST
295
395
WSCPA
GNP
Webcast also available
16WWTGNPST
285
385
Webcast
Washington CPA Regulatory Ethics by James Rigos (A WA Requirement), 8am-11:30am
16ETJRST24
185
225
WSCPA
Ethics
Internal Control Best Practices for Small- and Medium-Sized Entities, 8am-4pm
16ICSMST28
295
395
-30
WSCPA
A&A
Webcast also available
16WWICSMST
285
385
-30
Webcast
Fraud Update: Detecting and Preventing the Top Ten Fraud Schemes, 8am-4pm
16TTFSST
295
395
-30
WSCPA
Webcast also available
16WWTTFSST
285
385
-30
Webcast
The 8-Hour MBA:Value Added, 8am-4pm
168MBAVOC
295
395
WSCPA
Webcast also available
16WW8MBAVO
285
385
Webcast
The 8-Hour MBA: Business Strategy, 8am-4pm
168MBABOC
295
395
WSCPA
Webcast also available
16WW8MBABO
285
385
Form 990: Comprehensive Approach to Accurate Preparation, 8am-4pm
16EOF990OC
295
395
-30
WSCPA
Webcast also available
16WWEO990O
285
385
-30
Webcast
9/21
8
9/21
8
9/22
8
9/22
8
Y
9/24
4
E
9/28
8
9/29
8
10/1
10/2
10/6
Y
8
8
8
ç New | Non-tech credits |
www.wscpa.org
TAX
GNP
A&A
MG
MG
Webcast
Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
TAX
Networking event
WashingtonCPA Summer 2015
33
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS
Fees
Date
CPE Credits
#
Course
Code
For more details, search by code at www.wscpa.org/cpe
Type
WSCPA NonAICPA Member Member Member Discount Fee Fee
Facility
Subject
A&A
Financial Statement Analysis: Basis for Management Advice, 8am-4pm
16FSABMOC
295
395
-30
WSCPA
Webcast also available
16WWFSABMO
285
385
-30
Webcast
Annual Update for Controllers, 8am-4pm
16SKSBOC20
295
395
-30
WSCPA
MG
8
Like Kind Exchanges & Involuntary Conversions, 8am-4pm
16EXCHOC20
295
395
WSCPA
TAX
8
Capital, Ordinary & Section 1231 gains, 8am-4pm
16COSGOC21
295
395
WSCPA
TAX
Yellow Book: Government Auditing Standards, 8am-4pm
16EOYBOC
295
395
WSCPA
GNP
Webcast also available
16WWEYOBOC
285
385
Audit Workpapers: Documenting and Reviewing Field Work, 8am-4pm
16AUDWOC
295
395
Y
Frequent Frauds Found in Governments and Not-For-Profits, 8am-4pm
16FFGNOC
295
Y
Advanced Auditing of HUD-Assisted Projects, 8am-4pm
16EOAHUDOC
10/19
8
10/20
8
10/20 10/21 10/21
8
10/22
8
10/22
8
10/23
8
Y
Webcast WSCPA
A&A
395
WSCPA
GNP
295
395
WSCPA
GNP
285
385
-30
Webcast also available
16WWEOAHUD
10/23
8
Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors, 8am-4pm
16ICDADOC
295
395
-30
WSCPA
A&A
10/26
8
Advanced Business Law for CPAs, 8am-4pm
16ABLTOC26
295
395
-30
WSCPA
MG
Webcast also available
16WWABLTOC
285
385
-30
Webcast
Multistate Income Tax, 8am-4pm
16MITOC
295
395
-30
WSCPA
Webcast also available
16WWMITOC
285
385
-30
Webcast
10/27
8
Webcast
TAX
10/27
8
The Best Individual Income Tax Update Course by Surgent, 8am-4pm
16BITUOC
310
410
WSCPA
TAX
10/28
8
Statement of Cash Flows: Preparation and Presentation, 8am-4pm
16FCFSOC
295
395
-30
WSCPA
A&A
285
385
-30
Webcast
-30
WSCPA
TAX
Webcast also available
16WWFCFSOC
10/28
8
Tax Considerations and Consequences for Closely Held Businesses, 8am-4pm
16CHTXOC
295
395
10/29
8
Excel Financial Reporting and Analysis, 8am-4pm
16EFROC29
295
395
WSCPA
TEC
10/29
8
The Best S Corporation, Limited Liability, and Partnership Update Course by Surgent, 8am-4pm
16BCPEOC29
310
410
WSCPA
TAX
Webcast also available
16WWBCPEOC
300
400
Webcast
10/30
8
Business Continuity-K2’s Best Practices for Managing the Risks, 8am-4pm
16BCOOC30
295
395
WSCPA
TEC
10/30
8
Getting More Active with the Passive Activity Rules & the New Net Investment Income Tax, 8am-4pm
16PAITOC30
310
410
WSCPA
TAX
Webcast also available
16WWPAITOC
300
400
Webcast
11/13
8
Accounting & Auditing Conference, 8am-4:10pm
16AAC
335
435
Meydenbauer Center
Webcast also available
16WBAAC
315
405
Webcast
12/4
8
Fraud Conference, 8am-4pm
16FDC
270
370
Courtyard Marriott
A&A
12/14
16
Information Technology Conference, 8am-4pm
16ITC
615
715
Meydenbauer Center
TEC
Beer and Brats Evening Cruise Aboard Island Mariner, 6pm-8:30pm
16CHBLJL22
35
35
Island Mariner Cruises
PD
Accounting and Reporting Standards: The Annual Update and Review of GAAP, Special Purpose Frameworks, the Compilation and Review Standards, and the AICPA Auditing Standards by Walter Haig, 8am-4pm
16ARSURJL
570
695
Campbell’s Resort
A&A
Accounting and Reporting Standards: The Annual Update and Review of GAAP, Special Purpose Frameworks, the Compilation and Review Standards, and the AICPA Auditing Standards by Walter Haig, 8am-4pm
16ARSURAU
570
695
The Coeur d’Alene
A&A
Farm Tax Conference, 8am-4pm
16FARMC
275
375
Three Rivers Conv Ctr
TAX
Members’ Reception at Woodmark Hotel, 6pm-8:30pm
16NPAU20
0
25
Woodmark Hotel
PD
A&A
Bellingham ç
7/22
0
l
Chelan 7/23
16
Coeur d’Alene 8/13
16
Kennewick 8/13
8
Kirkland 8/20
0
ç New | Non-tech credits |
34
Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
WashingtonCPA Summer 2015
Networking event
www.wscpa.org
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS Fees
Date
CPE Credits
#
Course
Code
For more details, search by code at www.wscpa.org/cpe
Type
WSCPA NonAICPA Member Member Member Discount Fee Fee
Facility
Subject
Lewiston 10/1
4
Accounting and Auditing Update, 8am-11:30am
16CL4AUAAO
153
203
-30
Williams Conf Ctr
A&A
10/1
4
Compilation, Preparation, & Review Engagements Update, 12:30pm-4pm
16CL4COMPO
153
203
-30
Williams Conf Ctr
A&A
10/2
4
Annual Update for Governments and Not-for-Profits, 8am-11:30am
16CL4GNAUO
153
203
Williams Conf Ctr
GNP
10/2
4
Fraud: Recent Findings, Red Flags & Corruption Schemes, 12:30pm-4pm
16CL4FRAUO
153
203
Williams Conf Ctr
A&A
Northwest Accounting Educators Conference, 8am -4:20pm
16NAEC
235
235
Seattle University
A&A
Pyramid Brewery Networking Event, 6pm -8:30pm
16NPOC22
25
30
Pyramid Ale House
PD
Pacific Tax Institute, 8am-4:30pm
16PTI
720
820
Bell Harbor Conf Ctr
TAX
660
760
Webcast
Y
-30
Seattle 9/2
16
10/22
0
11/4
16
Webcast also available
16WBPTI
11/16
16
Pacific NW Construction Industry Conference, 8am-4:30pm
16CIC
605
705
Bell Harbor Conf Ctr
SK
11/19
16
Not-For-Profit Conference, 8am-4:30pm
16NFPC
470
570
Bell Harbor Conf Ctr
GNP
Webcast also available
16WBNFPC
440
540
Webcast
Spokane 8/11
0
Happy Hour Networking Event, 5pm-7pm
16NPAU11
0
0
Anthony’s Home Port
PD
10/13
0
Happy Hour Networking Event , 5pm-7pm
16NPOC13
0
0
Twigs (River Park Sq)
PD
10/26
8
The Complete Guide to Payroll Taxes and 1099 Issues, 8am-4pm
16CGPTOC26
310
410
Pacific Grill Events Ctr
TAX
10/27
8
Revenue Recognition: Mastering the New FASB Requirements, 8am-4pm
16INRROC
295
395
Pacific Grill Events Ctr
A&A
7/15
8
Internal Control:Your First Defense Against Errors and Fraud WEBCAST, 8:30am-4:30pm
16WBCJL15B
275
375
Webcast
A&A
7/15
8
Introduction to XBRL: New Opportunities for CPAs WEBCAST, 8:30am-4pm
16WBCJL15A
275
375
Webcast
TEC
7/15
2
S Corporations: How to Calculate AAA, Basis and Loans WEBINAR, 11am-1pm
16WNCJL15A
79
94
Webinar
TAX
7/16
8
Business Succession Planning and Exit Strategies WEBCAST, 8:30am-4pm
16WBCJL16A
275
375
Webcast
MG
7/16
2
Federal Awards: Changes under the Revised Uniform Grant Guidance WEBCAST, 8am-10am
16WBAJL16A
79
109
Webcast
GNP
7/16
8
Preparing Form 706: The Federal Estate Tax Return WEBCAST, 8:30am-4:30pm
16WBCJL16B
275
375
Webcast
TAX
7/16
4
Y
Revisions to Single Audits-How I Can do It Better WEBCAST, 12pm-4pm
16WBAJL16C
129
159
Webcast
GNP
7/16
4
Y
Revisions to Single Audits-What I Need to Know WEBCAST, 8am-12pm
16WBAJL16B
129
159
Webcast
GNP
7/17
4
Controller’s Update: Latest Trends WEBCAST, 10am-2pm
16WBBJL17A
149
199
Webcast
MG
7/17
4
HUD Multifamily Housing Audits 2014 WEBCAST, 12pm-4pm
16WBAJL17B
129
159
Webcast
GNP
7/17
2
Partnerships and S Corporations: New Tax Rules You Need to Know WEBINAR, 7am-9am
16WNCJL17A
79
94
Webinar
TAX
7/17
2
Tax Depreciation Update: Rules and Special Situations WEBINAR, 10am-12pm
16WNCJL17B
79
94
Webinar
TAX
7/17
4
Yellow Book Audits WEBCAST, 8am-12pm
16WBAJL17A
129
159
Webcast
GNP
7/20
2
2015 Technology Update WEBINAR, 12pm-2pm
16WNCJL20A
79
94
Webinar
TEC
7/20
8
Basis/Distributions for Pass-Through Entities: Simplifying the Complexities WEBCAST, 7:30am-3:30pm
16WBBJL20A
249
345
Webcast
TAX
7/20
8
Personal Financial Statements WEBCAST, 8:30am-4:30pm
16WBCJL20A
275
375
Webcast
A&A
7/21
2
Cash Flow Forecasting: Helping Your Clients Plan Better for the Future WEBCAST, 10am-12pm
16WBAJL21A
79
109
Webcast
PFP
7/21
8
Financial Statement Analysis WEBCAST, 8:30am-4:30pm
16WBCJL21A
275
375
Webcast
A&A
7/21
2
Foreign Account Reporting Requirements: Forms 8938 and 3520 WEBINAR, 12pm-2pm
16WNCJL21A
79
94
Webinar
TAX
7/22
8
Managing Successful Teams WEBCAST, 8:30am-4pm
16WBCJL22A
275
375
Webcast
PD
7/22
4
Smart Tax Planning Strategies for Individuals WEBCAST, 10am-2pm
16WBBJL22A
149
199
Webcast
TAX
Tacoma -30
Your Desk
Y
Y
Y
ç New | Non-tech credits |
www.wscpa.org
Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
Networking event
WashingtonCPA Summer 2015
35
There’s a better way to stalk the experts Meet ‘em at WSCPA Conferences
36
WashingtonCPA Summer 2015
www.wscpa.org
2015 Conferences Great topics - phenomenal speakers opportunities too amazing for you to miss!
August 13 Farm Tax Conference
November 19-20 Not-For-Profit Conference
September 2-3 Northwest Accounting Educators Conference
December 4 Fraud Conference
November 4-5 Pacific Tax Institute November 13 Accounting & Auditing Conference
December 14-15 Information Technology Conference webcast available
November 16-17 Pacific NW Construction Industry Conference
REGISTER NOW www.wscpa.org/conferences | (425) 644-4800 www.wscpa.org
WashingtonCPA Summer 2015
37
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS
Fees
Date
CPE Credits
#
ç
ç
ç
Course
For more details, search by code at www.wscpa.org/cpe
Type
WSCPA NonAICPA Member Member Member Discount Fee Fee
Facility
Subject
7/23
8
Building a CPA Practice WEBCAST, 8:30am-4pm
16WBCJL23B
275
375
Webcast
MG
7/23
2
Net Operating Losses-Dealing with the Complexities WEBINAR, 8am-10am
16WNCJL23A
79
94
Webinar
TAX
7/23
4
Practical Guide to Accounting Fraud WEBCAST, 8:30am-12pm
16WBCJL23A
140
188
Webcast
A&A
7/23
2
Retirement Plans in the Closely Held Business-A Tax Planning Perspective WEBINAR, 11am-1pm
16WNCJL23B
79
94
Webinar
TAX
7/23
4
Yellow Book Financial Audits WEBCAST, 10am-2pm
16WBBJL23A
149
199
Webcast
GNP
7/24
2
Affordable Care for Employers-How to Comply with the New Mandate WEBINAR, 10am-12pm
16WNCJL24A
79
94
Webinar
TAX
7/24
8
Business Plans That Work WEBCAST, 8:30am-4pm
16WBCJL24A
275
375
Webcast
MG
7/24
8
Individual Tax Planning Topics WEBCAST, 8:30am-4pm
16WBCJL24B
275
375
Webcast
TAX
7/27
8
Accounting for Deferred Income Taxes WEBCAST, 7:30am-3:30pm
16WBBJL27A
249
345
Webcast
A&A
7/27
2
Detecting and Preventing T&E Fraud WEBINAR, 10am-12pm
16WNCJL27A
79
94
Webinar
A&A
7/27
4
IRS Disputes: Identifying Options for Your Client WEBCAST, 10am-2pm
16WBBJL27B
149
199
Webcast
TAX
7/28
2
2015 Business Tax Update WEBCAST, 11am-1pm
16WBAJL28B
79
109
Webcast
TAX
7/28
2
Financial Accounting for Related Party Transactions WEBINAR, 10am-12pm
16WNCJL28A
79
94
Webinar
A&A
7/28
2
Marketing Management for CFOs and Other Financial Managers WEBCAST, 8am-10am
16WBAJL28A
79
109
Webcast
MG
7/28
8
Stopping Fraud in Your Business WEBCAST, 8:30am-4:30pm
16WBCJL28B
275
375
Webcast
A&A
7/28
4
Tax Planning Strategies for Small Businesses: Corporations, Partnerships, & LLCs WEBCAST, 10am-2pm
16WBBJL28A
149
199
Webcast
TAX
7/28
8
Virtual Currency WEBCAST, 8:30am-4pm
16WBCJL28A
275
375
Webcast
TEC
7/29
8
2015 Governmental Accounting and Auditing Update WEBCAST, 7am-3pm
16WBAJL29A
195
345
Webcast
GNP
7/29
2
Alternative Minimum Tax: How it Can Impact Your Clients WEBINAR, 10am-12pm
16WNCJL29A
79
94
Webinar
TAX
7/29
4
Cheap Stock Guide:Valuing Stock-Based Compensation for Privately Held Companies WEBCAST, 8:30am-12pm
16WBCJL29A
140
188
Webcast
A&A
7/29
4
Compilation, Preparation, and Review Engagements Update WEBCAST, 10am-2pm
16WBBJL29A
149
199
Webcast
A&A
7/30
16
Financial Accounting Standards: A Comprehensive Review WEBCAST, 8:30am-4:30pm
16WBCJL30B
550
650
Webcast
A&A
7/30
8
Investment Planning: Developing Client-Centered, Long-Term, Financial Strategies WEBCAST, 8:30am-4pm
16WBCJL30A
275
375
Webcast
PFP
7/30
2
Profit Improvement: Use Process Analysis to Identify Opportunities WEBINAR, 9am-11am
16WNCJL30A
79
94
Webinar
A&A
7/30
1
Punctuation That Counts: Catch Your Mistakes Before Your Readers Do! WEBCAST, 8am-9am
16WBAJL30A
39
69
Webcast
PD
7/31
8
Deciphering the Myths and Realities of Comprehensive Risk Management and Insurance Planning WEBCAST, 8:30am-4pm
16WBCJL31B
275
375
Webcast
CS
7/31
2
Detecting and Preventing Internal Fraud, Theft and Abuse WEBINAR, 11am-1pm
16WNCJL31A
79
94
Webinar
A&A
7/31
1
Give Your Elevator Speech a Lift, 8am-9am
16WBAJL31A
39
69
Webcast
PD
7/31
4
Top 10 AMT Causes and Planning Strategies WEBCAST, 8:30am-12pm
16WBCJL31A
140
188
Webcast
TAX
8/3
2
ABC’s of Building a Cloud Accounting Services Practice WEBINAR, 9am-11am
16WNCAU03A
79
94
Webinar
TEC
8/3
8
Negotiate for Success: Psychology of Power Persuasion WEBCAST, 8:30am-4pm
16WBCAU03A
275
375
Webcast
PD
8/3
8
Preventing and Detecting Identity Theft WEBCAST, 7:30am-3:30pm
16WBBAU03A
249
345
Webcast
SK
8/4
8
Clients for Life: Retain Your Top Clients to Maximize Business Growth WEBCAST, 8:30am-4pm
16WBCAU04A
275
375
Webcast
MG
8/4
2
Cloud Accounting Software-Accountant’s Program Review WEBINAR, 9am-11am
16WNCAU04A
79
94
Webinar
TEC
Y
Y
ç New | Non-tech credits |
38
Code
Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
WashingtonCPA Summer 2015
Networking event
www.wscpa.org
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS Fees
Date
CPE Credits
#
Course
Code
For more details, search by code at www.wscpa.org/cpe
Type
WSCPA NonAICPA Member Member Member Discount Fee Fee
Facility
Subject
8/5
8
Affordable Care Act-Tax Favored Health Care Plans After ACA WEBCAST, 8:30am-4pm
16WBCAU05A
275
375
Webcast
TAX
8/5
2
Data Visualization and Mapping Tools for Accountants WEBINAR, 10am-12pm
16WNCAU05A
79
94
Webinar
TEC
8/5
8
Financial Reporting:Your Guide to Reading Financial Reports WEBCAST, 8:30am-4:30pm
16WBCAU05B
275
375
Webcast
A&A
8/6
16
Auditing Standards: A Comprehensive Review WEBCAST, 8:30am-4pm
16WBCAU06A
550
650
Webcast
A&A
8/6
2
The Complex Area of Partnership Allocations-Properly Dividing Up the Items on the Form 1065 WEBINAR, 8am-10am
16WNCAU06A
79
94
Webinar
TAX
8/6
2
Trust Income Issues —Uniform Principal and Income Act and Distributable Net Income WEBINAR, 11am-1pm
16WNCAU06B
79
94
Webinar
TAX
8/6
4
Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement) WEBCAST, 8am-12pm
16WBAAU06A
164
194
Webcast
Ethics
8/6
4
Washington Sales Tax and New Developments by Mark Hugh WEBCAST, 12pm-4pm
16WBAAU06B
129
159
Webcast
TAX
8/7
2
Cash Management Techniques, Systems and Solutions WEBINAR, 9am-11am
16WNCAU07A
79
94
Webinar
MG
8/7
4
Incorporating a Business WEBCAST, 8:30am-12pm
16WBCAU07A
140
188
Webcast
TAX
8/10
8
Cost Capitalization A-Z WEBCAST, 8:30am-4pm
16WBCAU10A
275
375
Webcast
TAX
8/10
2
Fraud and Abuse in Nonprofits WEBINAR, 7am-9am
16WNCAU10A
79
94
Webinar
GNP
8/10
2
Getting the Most from Your Information Systems WEBINAR, 9am-11am
16WNCAU10B
79
94
Webinar
TEC
8/10
8
Payroll Taxes and 1099 Issues: Everything You Need to Know WEBCAST, 7:30am-3:30pm
16WBBAU10A
249
345
Webcast
TAX
8/11
2
Fraud and Abuse in Nonprofits WEBINAR, 10am-12pm
16WNCAU11A
79
94
Webinar
GNP
8/12
8
Documentation Requirements, Design and Reviewing Techniques of Workpapers WEBCAST, 8:30am-4pm
16WBCAU12B
275
375
Webcast
A&A
8/12
2
Internal Control’s New Muscles WEBINAR, 11am-1pm
16WNCAU12A
79
94
Webinar
A&A
8/12
8
Preparing Form 5500 WEBCAST, 8:30am-4pm
16WBCAU12A
275
375
Webcast
TAX
8/13
8
2015 Governmental Accounting and Auditing Update WEBCAST, 7am-3pm
16WBAAU13E
195
345
Webcast
GNP
8/13
l
AICPA Conflicts of Interest: A New 2015 Approach WEBCAST, 9am-10am
16WBAAU13D
39
59
Webcast
SK
8/13
2
Federal Awards: Changes under the Revised Uniform Grant Guidance WEBCAST, 8am-10am
16WBAAU13A
79
109
Webcast
GNP
8/13
2
Live Video Interview with Ex-Con Purchasing Agent Vern Beck WEBINAR, 8am-10am
16WNCAU13A
79
94
Webinar
A&A
8/13
4
Y
Revisions to Single Audits-How I Can do It Better WEBCAST, 12pm-4pm
16WBAAU13C
129
159
Webcast
GNP
8/13
4
Y
Revisions to Single Audits-What I Need to Know WEBCAST, 8am-12pm
16WBAAU13B
129
159
Webcast
GNP
8/14
4
Employee Stock Options WEBCAST, 1pm-4:30pm
16WBCAU14B
140
188
Webcast
TAX
8/14
4
HUD Multifamily Housing Audits 2014 WEBCAST, 12pm-4pm
16WBAAU14B
129
159
Webcast
GNP
8/14
2
Small GAAP: AICPA Private Company Financial Reporting Standards WEBINAR, 7am-9am
16WNCAU14A
79
94
Webinar
A&A
8/14
4
Top 10 AMT Causes and Planning Strategies WEBCAST, 8:30am-12pm
16WBCAU14A
140
188
Webcast
TAX
8/14
4
Yellow Book Audits WEBCAST, 8am-12pm
16WBAAU14A
129
159
Webcast
GNP
8/17
8
Corporate Finance Checkup: Renovate Your Analytical Toolbox WEBCAST, 8:30am-4pm
16WBCAU17A
275
375
Webcast
MG
8/17
2
Real Estate Tax-What Owners and Investors Need to Know WEBINAR, 10am-12pm
16WNCAU17A
79
94
Webinar
TAX
8/18
8
Personal Financial Planning Challenges: Analysis, Evaluation and Recommendations WEBCAST, 8:30am-4pm
16WBCAU18A
275
375
Webcast
PFP
8/18
8
S Corporations: Tax Consequences of Termination, Liquidation and Sale WEBCAST, 8:30am-4pm
16WBCAU18B
275
375
Webcast
TAX
ç
8/18
2
Time Hacks-Proven Ways to Save Time, Money and Get More for Less WEBCAST, 10am-12pm
16WBAAU18A
79
109
Webcast
PD
ç
8/19
8
2015 Compilation and Review Update WEBCAST, 7am-3pm
16WBAAU19A
195
245
Webcast
A&A
ç
ç
E
Y
Y
Y
Y
Y
Y
ç New | Non-tech credits |
www.wscpa.org
Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
Networking event
WashingtonCPA Summer 2015
39
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS
Fees
Date
CPE Credits
#
Course
Code
For more details, search by code at www.wscpa.org/cpe
Type
WSCPA NonAICPA Member Member Member Discount Fee Fee
Facility
Subject
8/19
2
Affordable Care for Employers-How to Comply with the New Mandate WEBINAR, 8am-10am
16WNCAU19A
79
94
Webinar
TAX
8/19
8
LLCs and Partnerships: Review of Selected Topics WEBCAST, 8:30am-4:30pm
16WBCAU19A
275
375
Webcast
TAX
8/19
2
Simplifying and Securing Your Passwords WEBINAR, 9am-11am
16WNCAU19B
79
94
Webinar
TEC
8/20
2
2015 Individual Tax Update WEBCAST, 7am-9am
16WBAAU20A
79
109
Webcast
TAX
8/20
2
Partnerships and LLCs: Tax Issues in a Sale or Liquidation WEBINAR, 10am-12pm
16WNCAU20A
79
94
Webinar
TAX
8/21
8
Accounting Fraud WEBCAST, 8:30am-4pm
16WBCAU21B
275
375
Webcast
A&A
8/21
8
Individual Tax Planning Topics WEBCAST, 8:30am-4pm
16WBCAU21A
275
375
Webcast
TAX
8/21
2
Profit Improvement: Use Process Analysis to Identify Opportunities WEBINAR, 9am-11am
16WNCAU21A
79
94
Webinar
A&A
ç
8/22
2
Small GAAP: New AICPA Private Company Financial Reporting Standards SATURDAY WEBCAST, 11am-1pm
16WBSAU22A
79
109
Webcast
A&A
ç
8/24
8
Accounting for Deferred Income Taxes WEBCAST, 7:30am-3:30pm
16WBBAU24A
249
345
Webcast
A&A
8/24
2
Cash Flow Forecasting: Helping Your Clients Plan Better for the Future WEBCAST, 10am-12pm
16WBAAU24A
79
109
Webcast
PFP
8/24
8
FASB and AICPA Update: Practical Guidance WEBCAST, 8:30am-4pm
16WBCAU24A
275
375
Webcast
A&A
8/24
8
Federal Taxation of Partnerships and LLCs Part I: Formation and Operation and Allocations WEBCAST, 8:30am-4:30pm
16WBCAU24B
275
375
Webcast
TAX
8/24
2
Social Security and Spousal Benefits WEBINAR, 7am-9am
16WNCAU24A
79
94
Webinar
TAX
8/24
2
Social Security: Annual Earnings Test & Taxability of Benefits WEBINAR, 10am-12pm
16WNCAU24B
79
94
Webinar
TAX
8/25
8
Accounting and Auditing Update WEBCAST, 8:30am-4:30pm
16WBCAU25B
275
375
Webcast
A&A
8/25
2
Marketing Management for CFOs and Other Financial Managers WEBCAST, 8am-10am
16WBAAU25A
79
109
Webcast
MG
8/25
2
Social Security: Public Employee Issues: Social Security Research Techniques WEBINAR, 8am-10am
16WNCAU25A
79
94
Webinar
TAX
8/25
8
Tax Practitioner’s Guide to Accounting and Reporting Issues WEBCAST, 8:30am-4pm
16WBCAU25A
275
375
Webcast
A&A
8/26
2
1040 Tax Document Automation Systems Review WEBINAR, 12pm-2pm
16WNCAU26A
79
94
Webinar
TAX
8/26
4
Small-Business Financial Statements WEBCAST, 8:30am-12pm
16WBCAU26A
140
188
Webcast
A&A
8/26
8
Social Security Basics and Strategies For Maximizing Benefits WEBCAST, 8:30am-4:30pm
16WBCAU26C
275
375
Webcast
PFP
8/26
8
Staying Current with Nonprofit Accounting and Auditing WEBCAST, 8:30am-4:30pm
16WBCAU26B
275
375
Webcast
A&A
8/27
1
Punctuation That Counts: Catch Your Mistakes Before Your Readers Do! WEBCAST, 8am-9am
16WBAAU27A
39
69
Webcast
PD
8/27
2
8/27
8
ç
ç
ç
S Corporations: Elections and Form 2553 WEBINAR, 10am-12pm
16WNCAU27A
79
94
Webinar
TAX
Y
Single Audits: A Case Study Approach WEBCAST, 8:30am-4:30pm
16WBCAU27A
275
375
Webcast
GNP
8/28
1
Give Your Elevator Speech a Lift, 8am-9am
16WBAAU28A
39
69
Webcast
PD
8/28
8
Y
HUD Audits of Multifamily Housing Projects: Audit Requirements Under the HUD Audit Guide and for Single Audits WEBCAST, 8:30am-4pm
16WBCAU28A
275
375
Webcast
GNP
8/28
2
Staff Retention: Why Your Best People Leave and How to Prevent It WEBINAR, 9am-11am
16WNCAU28A
79
94
Webinar
MG
8/31
8
Internal Controls and Risk Assessment: Key Factors in a Successful Audit WEBCAST, 7:30am-3:30pm
16WBBAU31A
249
345
Webcast
A&A
8/31
2
Raising Financing: Start-ups, Non-Profits and Growing Entities WEBINAR, 9am-11am
16WNCAU31A
79
94
Webinar
MG
8/31
4
The Facts: Budgeting, Planning & Forecasting WEBCAST, 8:30am-12pm
16WBCAU31A
140
188
Webcast
MG
9/1
8
Basic Accounting and Auditing for the Construction Industry WEBCAST, 8:30am-4:30pm
16WBCST01A
275
375
Webcast
A&A
9/1
4
Social Security and Medicare: Maximizing Retirement Benefits WEBCAST, 10am-2pm
16WBBST01A
149
199
Webcast
TAX
ç New | Non-tech credits |
40
Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
WashingtonCPA Summer 2015
Networking event
www.wscpa.org
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS Fees
Date
CPE Credits
#
ç
ç
ç
ç
ç
ç
Course
Code
For more details, search by code at www.wscpa.org/cpe
Type
WSCPA NonAICPA Member Member Member Discount Fee Fee
Facility
Subject
9/2
8
Taxation of the Construction Contractor and Homebuilder WEBCAST, 8:30am-4:30pm
16WBCST02A
275
375
Webcast
TAX
9/2
2
Why Do We Need Another Basis of Accounting-FRF for SMEs? WEBINAR, 8am-10am
16WNCST02A
79
94
Webinar
A&A
9/3
8
2015 Compilation and Review Update WEBCAST, 7am-3pm
16WBAST03A
195
245
Webcast
A&A
9/3
8
Complex Accounting and Auditing Issues for the Construction Industry WEBCAST, 8:30am-4:30pm
16WBCST03A
275
375
Webcast
A&A
9/3
2
Internal Control’s New Muscles WEBINAR, 1pm-3pm
16WNCST03B
79
94
Webinar
A&A
9/3
2
Retirement Plans in the Closely Held Business-A Tax Planning Perspective WEBINAR, 7am-9am
16WNCST03A
79
94
Webinar
TAX
9/4
2
Detecting and Preventing Accounts Receivable Fraud WEBINAR, 10am-12pm
16WNCST04B
79
94
Webinar
A&A
9/4
2
Live Video Interview with Ex-Con Purchasing Agent Vern Beck WEBINAR, 7am-9am
16WNCST04A
79
94
Webinar
A&A
9/4
2
The Business Secrets of the Trappist Monks WEBCAST, 10am-12pm
16WBAST04A
79
109
Webcast
MG
9/8
2
Federal Awards: Changes under the Revised Uniform Grant Guidance WEBCAST, 1pm-3pm
16WBAST08A
79
109
Webcast
GNP
9/8
4
Fraud: Recent Findings, Red Flags and Corruption Schemes WEBCAST, 10am-2pm
16WBBST08A
149
199
Webcast
A&A
9/8
4
Revisions to Single Audits-What I Need to Know WEBCAST, 1pm-5pm
16WBAST08B
129
159
Webcast
GNP
9/8
2
Small GAAP: AICPA Private Company Financial Reporting Standards WEBINAR, 12pm-2pm
16WNCST08B
79
94
Webinar
A&A
9/8
2
Strategic Skills for CFOs WEBINAR, 9am-11am
16WNCST08A
79
94
Webinar
PD
9/8
4
Y
Yellow Book Audits WEBCAST, 1pm-5pm
16WBAST08C
129
159
Webcast
GNP
9/9
2
15 Best Practices in Budgeting WEBINAR, 10am-12pm
16WNCST09A
79
94
Webinar
MG
9/9
4
Y
HUD Multifamily Housing Audits 2014 WEBCAST, 1pm-5pm
16WBAST09B
129
159
Webcast
GNP
9/9
4
Y
Revisions to Single Audits-How I Can do It Better WEBCAST, 1pm-5pm
16WBAST09A
129
159
Webcast
GNP
9/10
l
AICPA Conflicts of Interest: A New 2015 Approach WEBCAST, 9am-10am
16WBAST10C
39
59
Webcast
SK
9/10
2
Foreign Account Reporting Requirements: Forms 8938 and 3520 WEBINAR, 7am-9am
16WNCST10A
79
94
Webinar
TAX
9/10
4
Health Care Reform Act: Critical Tax and Insurance Ramifications WEBCAST, 10am-2pm
16WBBST10A
149
199
Webcast
TAX
9/10
2
S Corporations: How to Calculate AAA, Basis and Loans WEBINAR, 10am-12pm
16WNCST10B
79
94
Webinar
TAX
9/10
4
Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement) WEBCAST, 8am-12pm
16WBAST10A
164
194
Webcast
Ethics
9/10
4
Washington Sales Tax and New Developments by Mark Hugh WEBCAST, 12pm-4pm
16WBAST10B
129
159
Webcast
TAX
9/11
8
Efficient Financial Statement Preparation for Your Desktop and Online QuickBooks Clients WEBCAST, 8:30am-4pm
16WBCST11A
275
375
Webcast
TEC
9/11
2
Staff Retention: Why Your Best People Leave and How to Prevent It WEBINAR, 9am-11am
16WNCST11A
79
94
Webinar
MG
9/14
2
Detecting and Preventing T&E Fraud WEBINAR, 11am-1pm
16WNCST14B
79
94
Webinar
A&A
9/14
2
Fraud: 10 Scary Cases in Compilations and Reviews WEBINAR, 8am-10am
16WNCST14A
79
94
Webinar
A&A
9/15
2
Choice of Entity: How to Choose the Best Option for Your Client WEBINAR, 11am-1pm
16WNCST15A
79
94
Webinar
TAX
9/16
4
Analyzing a Company’s Financial Statement WEBCAST, 10am-2pm
16WBBST10B
149
199
Webcast
A&A
9/16
2
The CFO: 5 Critical Skills to Maximize Profits WEBINAR, 10am-12pm
16WNCST16A
79
94
Webinar
MG
9/17
2
Detecting and Preventing Accounts Receivable Fraud WEBINAR, 1pm-3pm
16WNCST17B
79
94
Webinar
A&A
9/17
4
Forensic Accounting: Uncovering Schemes and Scams WEBCAST, 10am-2pm
16WBBST17A
149
199
Webcast
A&A
9/17
2
Net Operating Losses-Dealing with the Complexities WEBINAR, 9am-11am
16WNCST17A
79
94
Webinar
TAX
Y
Y
E
ç New | Non-tech credits |
www.wscpa.org
Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
Networking event
WashingtonCPA Summer 2015
41
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS
Fees
Date
CPE Credits
#
Course
Code
For more details, search by code at www.wscpa.org/cpe
Type
WSCPA NonAICPA Member Member Member Discount Fee Fee
Facility
Subject
9/18
8
Annual Financial Management Spotlight: 4 Current Topics WEBCAST, 8:30am-4pm
16WBCST18A
275
375
Webcast
MG
9/18
2
Beyond Traditional Budgeting: Reduce Work and Improve Control WEBINAR, 9am-11am
16WNCST18A
79
94
Webinar
MG
9/18
4
Recognizing and Responding to Fraud Risk in Governmental and Notfor-Profit Organizations WEBCAST, 10am-2pm
16WBBST18A
149
199
Webcast
GNP
9/21
8
Create Reports that Matter: Turn Information into Action WEBCAST, 8:30am-4pm
16WBCST21B
275
375
Webcast
MG
9/21
2
Financial Planning Strategies for Life Wealth Cycles WEBINAR, 9am-11am
16WNCST21A
79
94
Webinar
TAX
9/21
8
Internal Controls and Risk Assessment: Key Factors in a Successful Audit WEBCAST, 7:30am-3:30pm
16WBBST21A
249
345
Webcast
A&A
9/21
8
Other Comprehensive Basis of Accounting Fundamentals WEBCAST, 8:30am-4pm
16WBCST21A
275
375
Webcast
A&A
9/21
2
Tax Depreciation Update: Rules and Special Situations WEBINAR, 10am-12pm
16WNCST21B
79
94
Webinar
TAX
9/22
8
Accounting and Auditing Update WEBCAST, 8:30am-4pm
16WBCST22A
275
375
Webcast
A&A
9/22
2
Becoming the Hero-Capital Gain Tax Strategies WEBINAR, 10am-12pm
16WNCST22B
79
94
Webinar
TAX
9/22
2
Cash Flow Forecasting: Helping Your Clients Plan Better for the Future WEBCAST, 10am-12pm
16WBAST22A
79
109
Webcast
PFP
9/22
2
Partnerships and LLCs: Tax Issues in Forming the Entity WEBINAR, 8am-10am
16WNCST22A
79
94
Webinar
TAX
ç
9/23
8
2015 Understanding and Preventing Business Fraud WEBCAST, 7am-3pm
16WBAST23A
195
245
Webcast
A&A
ç
9/23
4
Capitalized Costs and Depreciation: Key Issues and Answers WEBCAST, 10am-2pm
16WBBST23A
149
199
Webcast
TAX
9/23
2
S Corporations: Elections and Form 2553 WEBINAR, 12pm-2pm
16WNCST23A
79
94
Webinar
TAX
9/24
2
Dealing with the Net Investment Income Tax and Additional Medicare Tax WEBINAR, 7am-9am
16WNCST24A
79
94
Webinar
TAX
9/24
2
Passive Activities: Helping Clients Survive the IRS’s Challenges WEBINAR, 10am-12pm
16WNCST24B
79
94
Webinar
TAX
9/24
2
Preventing Legal Issues on Construction Projects WEBCAST, 7am-9am
16WBAST24A
79
109
Webcast
MG
9/25
2
Data Analysis and Management WEBINAR, 9am-11am
16WNCST25A
79
94
Webinar
TEC
9/25
8
Private Company Accounting: New Challenges, New Directions WEBCAST, 8:30am-4pm
16WBCST25A
275
375
Webcast
A&A
9/28
8
Basis/Distributions for Pass-Through Entities: Simplifying the Complexities WEBCAST, 7:30am-3:30pm
16WBBST28A
249
345
Webcast
TAX
9/28
8
Foreign Information Tax Returns and the IRS Offshore Voluntary Disclosure Program WEBCAST, 8:30am-4:30pm
16WBCST28B
275
375
Webcast
TAX
9/28
8
GAAP Update WEBCAST, 8:30am-4pm
16WBCST28A
275
375
Webcast
A&A
9/28
2
Live Video Interview with Gov’t Fraud Expert Dennis Dycus WEBINAR, 11am-1pm
16WNCST28A
79
94
Webinar
GNP
9/29
2
Financial Accounting for Related Party Transactions WEBINAR, 11am1pm
16WNCST29A
79
94
Webinar
A&A
9/29
2
Marketing Management for CFOs and Other Financial Managers WEBCAST, 8am-10am
16WBAST29A
79
109
Webcast
MG
9/30
2
Cash Management Techniques, Systems and Solutions WEBINAR, 7am9am
16WNCST30A
79
94
Webinar
MG
9/30
4
Y
Yellow Book Financial Audits WEBCAST, 10am-2pm
16WBBST30A
149
199
Webcast
GNP
10/1
4
E
Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement) WEBCAST, 8am-12pm
16WBAOC01A
164
194
Webcast
Ethics
10/1
4
Washington Sales Tax and New Developments by Mark Hugh WEBCAST, 12pm-4pm
16WBAOC01B
129
159
Webcast
TAX
10/3
2
Y
Federal Awards: Changes under the Revised Uniform Grant Guidance SATURDAY WEBCAST, 9am-11am
16WBSOC03A
79
109
Webcast
GNP
10/3
4
Y
Revisions to Single Audits-What I Need to Know SATURDAY WEBCAST, 9am-12pm
16WBSOC03B
129
159
Webcast
GNP
10/3
4
Y
Yellow Book Audits SATURDAY WEBCAST, 9am-12pm
16WBSOC03C
129
159
Webcast
GNP
ç
ç
ç
ç
ç
Y
Y
ç New | Non-tech credits |
42
Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
WashingtonCPA Summer 2015
Networking event
www.wscpa.org
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS Fees
Date
CPE Credits
#
Course
Code
For more details, search by code at www.wscpa.org/cpe
Type
WSCPA NonAICPA Member Member Member Discount Fee Fee
Facility
Subject
ç
10/5
2
Excel for Accounting Professionals Session 1: Tables and Named References WEBCAST, 9:30am-11:30pm
16WBBOC05A
105
145
Webcast
TEC
ç
10/5
2
Excel for Accounting Professionals Session 2: Data Validation and Conditional Formatting WEBCAST, 12pm-2pm
16WBBOC05B
105
145
Webcast
TEC
10/5
1
Punctuation That Counts: Catch Your Mistakes Before Your Readers Do! WEBCAST, 8am-9am
16WBAOC05A
39
69
Webcast
PD
10/6
8
Tech Tools and Gadgets for a More Efficient You WEBCAST, 8:30am-4pm
16WBCOC06A
275
375
Webcast
TEC
10/7
8
Excel Financial Reporting and Analysis WEBCAST, 8:30am-4pm
16WBCOC07A
275
375
Webcast
TEC
ç
10/7
2
Excel for Accounting Professionals Session 3: Workbook Design Principles and Organization WEBCAST, 9:30am-11:30pm
16WBBOC07A
105
145
Webcast
TEC
ç
10/7
2
Excel for Accounting Professionals Session 4: Conditional Summing and Lookups WEBCAST, 12pm-2pm
16WBBOC07B
105
145
Webcast
TEC
10/7
1
Give Your Elevator Speech a Lift, 8am-9am
16WBAOC07A
39
69
Webcast
PD
10/8
8
2015 Understanding and Preventing Business Fraud WEBCAST, 7am-3pm
16WBAOC08B
195
245
Webcast
A&A
10/8
l
AICPA Conflicts of Interest: A New 2015 Approach WEBCAST, 9am-10am
16WBAOC08A
39
59
Webcast
SK
ç
10/8
4
MacGyvering: The Art of Being Resourceful in a Crisis WEBCAST, 9:35am-1:35pm
16WBAOC08C
179
245
Webcast
PD
ç
10/9
4
Y
Recognizing and Responding to Fraud Risk in Governmental and Notfor-Profit Organizations WEBCAST, 10am-2pm
16WBBOC09A
149
199
Webcast
GNP
10/9
8
Reformatted Financial Statements 2015: Is the Endgame in Sight? WEBCAST, 8:30am-4pm
16WBCOC09A
275
375
Webcast
A&A
10/13
8
Audits of 401(k) Plans WEBCAST, 8:30am-4pm
16WBCOC13A
275
375
Webcast
A&A
10/14
4
Health Care Reform Act: Critical Tax and Insurance Ramifications WEBCAST, 10am-2pm
16WBBOC14A
149
199
Webcast
TAX
10/14
8
Leadership Skills Training WEBCAST, 8:30am-4:30pm
16WBCOC14A
275
375
Webcast
PD
10/16
8
Enterprise Risk Management for Small and Medium-Sized Enterprises: Enhance Fraud Protection and Profitability in Your Organization WEBCAST, 8:30am-4pm
16WBCOC16A
275
375
Webcast
A&A
10/16
8
Key Ratio Analysis WEBCAST, 8:30am-4:30pm
16WBCOC16B
275
375
Webcast
A&A
10/17
4
Y
HUD Multifamily Housing Audits 2014 SATURDAY WEBCAST, 9am12pm
16WBSOC17B
129
159
Webcast
GNP
10/17
4
Y
Revisions to Single Audits-How I Can do It Better SATURDAY WEBCAST, 9am-12pm
16WBSOC17A
129
159
Webcast
GNP
10/19
8
Engagement Essentials: Preparation, Compilation, and Review of Financial Statements WEBCAST, 7:30am-3:30pm
16WBBOC19A
249
345
Webcast
A&A
10/19
8
Leases: Present and Future WEBCAST, 8:30am-4:30pm
16WBCOC19B
275
375
Webcast
A&A
10/19
8
Mergers and Acquisitions: Fundamentals of Acquiring or Selling MidMarket Companies and Professional Service Organizations WEBCAST, 8:30am-4pm
16WBCOC19A
275
375
Webcast
MG
10/20
2
Cash Flow Forecasting: Helping Your Clients Plan Better for the Future WEBCAST, 10am-12pm
16WBAOC20A
79
109
Webcast
PFP
10/20
8
GST Tax From A to Z WEBCAST, 8:30am-4pm
16WBCOC20A
275
375
Webcast
TAX
10/20
8
Revenue: Present and Future WEBCAST, 8:30am-4:30pm
16WBCOC20B
275
375
Webcast
A&A
10/21
8
2015 Not-for-Profit Accounting, Auditing & Tax Update WEBCAST, 7am-3pm
16WBAOC21A
195
245
Webcast
GNP
10/21
8
Advanced Excel Workshop WEBCAST, 8:30am-4pm
16WBCOC21A
275
375
Webcast
TEC
10/21
8
Review of Significant Accounting Topics WEBCAST, 8:30am-4:30pm
16WBCOC21B
275
375
Webcast
A&A
10/21
8
Yellow Book: Government Auditing Standards WEBCAST, 8am-4pm
16WWEOYBOC
285
385
Webcast
GNP
10/22
8
Compilation and Review Practice Guide WEBCAST, 8:30am-4:30pm
16WBCOC22C
275
375
Webcast
A&A
ç
10/22
2
Excel for Accounting Professionals Session 5: Error Trapping and Improving Lookups WEBCAST, 9:30am-11:30pm
16WBBOC22A
105
145
Webcast
TEC
ç
10/22
2
Excel for Accounting Professionals Session 6: List Comparisons and Indenting WEBCAST, 12pm-2pm
16WBBOC22B
105
145
Webcast
TEC
10/22
4
PCC Activities, Including Frame Work, ASU Updates, Simplification Initiative WEBCAST, 8:30am-12pm
16WBCOC22A
140
188
Webcast
A&A
ç
ç
ç
ç
Y
ç New | Non-tech credits |
www.wscpa.org
Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
Networking event
WashingtonCPA Summer 2015
43
Register at www.wscpa.org/cpe/catalog or page 45
EDUCATION AND EVENTS
Fees
Date
CPE Credits
#
Course
Code
For more details, search by code at www.wscpa.org/cpe
Type
WSCPA NonAICPA Member Member Member Discount Fee Fee
Facility
Subject
10/22
8
Social Security: Advanced Education and Training WEBCAST, 8:30am-4pm
16WBCOC22B
275
375
Webcast
PFP
10/23
4
Corporate Tax Planning: Actual and Constructive Distributions WEBCAST, 8:30am-12pm
16WBCOC23A
140
188
Webcast
TAX
10/23
8
QuickBooks Desktop Accounting Software Overview and Update WEBCAST, 8:30am-4pm
16WBCOC23B
275
375
Webcast
TEC
10/26
8
Advanced Personal Financial Planning Update WEBCAST, 8:30am-4:30pm
16WBCOC26A
275
375
Webcast
PFP
ç
10/26
8
Form 990: A Comprehensive Approach to Accurate Preparation WEBCAST, 7:30am-3:30pm
16WBBOC26A
249
345
Webcast
TAX
ç
10/27
8
2015 Governmental Accounting and Auditing Update WEBCAST, 7am-3pm
16WBAOC27B
195
345
Webcast
GNP
10/27
8
Form 709: Gift Tax Returns WEBCAST, 8:30am-4:30pm
16WBCOC27B
275
375
Webcast
TAX
10/27
2
Marketing Management for CFOs and Other Financial Managers WEBCAST, 8am-10am
16WBAOC27A
79
109
Webcast
MG
10/27
4
Small-Business Financial Statements WEBCAST, 8:30am-12pm
16WBCOC27A
140
188
Webcast
A&A
ç
10/28
8
2015 Compilation and Review Update WEBCAST, 7am-3pm
16WBAOC28A
195
245
Webcast
A&A
ç
10/28
2
Excel for Accounting Professionals Session 7: Date Driven Workbooks and Concatenation WEBCAST, 9:30am-11:30pm
16WBBOC28A
105
145
Webcast
TEC
ç
10/28
2
Excel for Accounting Professionals Session 8: Dynamic Headers, Mapping Tables and Error Check WEBCAST, 12pm-2pm
16WBBOC28B
105
145
Webcast
TEC
ç
10/29
8
2015 Understanding and Preventing Business Fraud WEBCAST, 7am-3pm
16WBAOC29B
195
245
Webcast
A&A
10/29
8
Estate Planning: A Comprehensive Overview WEBCAST, 8:30am-4:30pm
16WBCOC29B
275
375
Webcast
TAX
10/29
8
Federal Taxation of Partnerships and LLCs Part II: Sales and Distributions Bequests, Redemptions and Liquidations WEBCAST, 8:30am-4:30pm
16WBCOC29A
275
375
Webcast
TAX
10/29
1
Punctuation That Counts: Catch Your Mistakes Before Your Readers Do! WEBCAST, 8am-9am
16WBAOC29A
39
69
Webcast
PD
10/29
4
Risk, Cost, and Cash Management for Controllers and Financial Managers WEBCAST, 10am-2pm
16WBBOC29A
149
199
Webcast
MG
10/30
8
Private Company Reporting Options: More Changes Ahead WEBCAST, 8:30am-4pm
16WBCOC30A
275
375
Webcast
A&A
ç
Y
Save Big with Season Tickets WSCPA members save $100 on each eight-hour CPE program. Save even more by purchasing a Season Ticket or Coupon Book. •
With the Season Ticket, you can take 40 or 80 credits of CPE at a significant savings off the regular price of CPE.
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Webcast from WSCPA | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |
WashingtonCPA Summer 2015
Networking event
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Register at www.wscpa.org/cpe/catalog
REGISTRATION
Register online with credit card at www.wscpa.org/cpe/catalog or: • Mail form with check to WSCPA, 902 140th Ave NE, Bellevue, WA 98005-3480 • Call (425) 644-4800 or (800) 272-8273 (toll-free in Washington) Questions? E-mail cpe@wscpa.org or call the WSCPA.
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WashingtonCPA Summer 2015
45
CLASSIFIED ADS
Detailed advertising information is available online at www.wscpa.org. Ads are $1 per word with a minimum fee of $50. Active e-mail and web site addresses are included. Classified ads are placed on the website for 60 days when received and in the next magazine when received by the deadline, September 1 for the fall 2015 issue. Positions available ads are no longer available in the magazine.To post a job listing, www.wscpa.org (click Job Board.)Want to list a rental or vacation property? Use the Miscellaneous category.Contact JanetWhite at (425) 5861126, (800) 272-8273, Ext. 1126, or memberservices@ wscpa.org for more information.All ads must be pre-paid. Find classified ads at www.wscpa.org under More.
OFFICE SPACE Seattle Office Space Three offices, Safeco Plaza, 1001 Fourth Avenue, 33rd floor, Seattle. Space share with law firm. Includes conference room and kitchen. Copier, fax, and DSL internet available. Price: $600 per office. Contact Peggy, 206-264-8600, cahill@bnd-law.com SITUATIONS WANTED Join a Good Team. Excellent opportunity for someone with a small or home-based tax practice to merge with an established CPA firm.We may need to replace one of our two partners after April 15th. This can give the right person(s) an entrance into a quality oriented tax firm in Spokane, WA. Contact Anson Avery, CPA anson@aaverycpa.com, (509) 310-8510. MERGERS & SALES Expected Earnings over $100k in 2015! Well respected Accounting and tax practice located in a growth oriented community in Western Washington. Building optional. The business has grown in the past year in both clients and fees. Owning this practice could be the perfect opportunity for any accountant starting out on his/her own, or a firm looking to expand. For additional information please contact Scott Weyer 360-581-3696; 1st Harbor Real Estate 360-523-2610. Well established $1M+ Eastside firm looking to sell or merge: If you are a smaller local firm looking to become a competitive player in the Puget Sound market by adding a substantial loyal client base or if you are a larger local/regional looking to add a healthy chunk to the top and bottom lines, this is a transaction you should seriously consider as it is a deal that will virtually pay for itself.The Firm is a tax based practice with a 1 to 2 ratio of closely held business clients to individuals, with a few financial statements provided as an ancillary client service. A&A is an area with incredible growth potential within the present client base but has been avoided due to lack of qualified staff to adequately service. The Firm has premium billing rates, net write ups every year and consistently in the top 5% of the annual Rosenberg surveys. Owner looking to relieve himself from firm management responsibilities and ownership as required in doing so. Seller will be a significant bottom line revenue contributor as an employee for as long as necessary and with 50+ years in the greater Seattle area, a material producer of new business. Email inquiries to konrad69@ymail.com
Considering Selling Your Practice? Consider all your options. We do the work. Confidential. We have buyers actively seeking practices. Call Mark Hause at (877) 345-7722 or visit our website at www.accountingpracticesales.com Accounting Practice Sales.We make dreams happen!
IBA Sells Privately Held Companies. Do you represent a client who is ready to retire or has taken a company as far as they want to or can? IBA is the Pacific Northwest’s oldest business brokerage (M&A) firm.We are professional negotiators with over 4000 completed transactions. Please contact us if we can be of assistance at (800) 218-4422 or www.ibainc.com
PRACTICES FOR SALE Contact Mark Hause at Accounting Practice Sales by e-mail at MARKHAUSE@CONTACTAPS.COM or call (877) 345-7722 for more information on the following practices: (WA 1090) Everett/Mill Creek Area: This CPA practice is a strong tax practice with approx. 82% of revenue coming from these professional services. The balance is made up of write-up 16% and consulting of 2%. The firm is very proactive both with their clients and with the community at large. The firm’s outreach consists of regular client contacts,newsletters and ongoing web based methods. The firm also is very efficient that is a reflection of the style of the owner and the competence of the staff. All of this is contained in a practice that has an excellent fee structure,setup for anyone to come in and assume the mantle of ownership, an office that easily makes a good first impression and a varied and loyal group of clients. (WA 1089) Bellingham CPA Practice For Sale: This CPA firm is almost 100% a tax practice with writeup only consisting of approx. 6% of gross receipts. The practice is run very efficiently and has a net cash flow percentage that is excellent. The year over year revenues are solid with this stable group of tax clients providing steady income. The size and profitability of this practice make it attractive to any number of buyers looking to grow a firm with immediate possession possible. (WA1073) Island County EATax Practice for Sale: This well-established Enrolled Agent practice is for sale. The firm is well balanced with a tax practice that produces 71% of the firm’s revenue with write-up generating the remainder of the income. The practice is well positioned for future growth due to having a solid staff serving long term clients. The seller is retiring but will be available to assist in transition. For any firm looking for a satellite office, an existing practice wishing to branch out, or an individual who has aspirations of getting out on their own, this practice is an excellent choice. (WA1069) Poulsbo CPA Tax Practice for Sale: This solid CPA practice with an excellent client base is for sale. The firm is full of satisfied clients who refer approx. 95% of all new clients. The firm with this kind of reputation works extremely hard at providing excellent service to a client base with a healthy mix of all types of
clients. As with most firms, the practice mix consists of mostly individual returns but does have business returns as well. For buyers looking for an established practice or firms seeking markets for new growth this firm is one you should inquire about. (WA1068) Seattle Tax Practice For Sale: This accounting firm is a tax and write-up practice that was formed 38 years ago. The mix of professional services is approx. 65% income tax, 32% write-up, and 3% consulting with excellent per return fees. The firm has always stressed excellent service to its clients. The result is a practice filled with long-term clients who refer excellent new clients. The firm’s clients interact with the practice generally by phone, mail, and electronic media making this practice one with very little walk in business. Most clients are located or work in the Seattle Central Metropolitan area and appreciate easy driving access of a neighborhood office location for those times when in person meetings are desired or necessary. In recent years, the practice has been pruned to allow the owner to transition to retirement, yet total fees have continued to increase. What remains are clients who are the envy of many firms. This practice is an ideal purchase opportunity for any professional looking for financial reward and professional challenge.
SOLD
(WA1065) South Puget Sound Area-CPA Practice For Sale: This CPA practice has a broad range of clients with no concentration in one area and a broad range of services that are rendered in the areas of income tax,auditing,and financial services.The firm has a history of stability that has fostered excellent client relationships that provide consistent referrals.This firm is further enhanced by an outstanding staff that has outstanding credentials making this firm unique in its ability to provide quality professional services at all service levels to all clients. The financial advisory segment of this practice makes it an obvious advantage for any firm looking to add to their suite of professional services. Any firm with designs on expanding services, looking for expertise, along with an outstanding client list has found an opportunity that is hard to beat with this firm.
SOLD
VOLUNTEER OPPORTUNITIES The following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters. Learn more at www.wscpa.org (click “Volunteer Opportunities” at the bottom of the page). Bulgarian Cultural and Heritage Center of Seattle
North East Seattle Together (NEST) – new
Career Path Services - new
Northwest Consumer Law Center - new
Eastside Legal Assistance Program - new
Punto Foundation - new
Many Lights Foundation - new
Classified Ads 46
WashingtonCPA Summer 2015
www.wscpa.org/more www.wscpa.org
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WashingtonCPA Summer 2015
47
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