WashingtonCPA 2019 Spring by Washington Society of CPAs

the washington

CPA

Spring 2019

Volume 62, Number 4

Protecting the Profession DEFENDING CPAS FROM THE DANGERS OF DEREGULATION

How to Become the Most Valuable Asset to a Cannabis CEO Washington State Board of Accountancy Proposes Revisions to CPE How CPAs Impact Local Government

www.wscpa.org

Is It Time?

If So, We Can Help

Delivering Results - One Practice At a time

The WashingtonCPA Spring 2019

Mark Hause

877-345-7722

markhause@contactaps.com

www.APS.net www.wscpa.org

19 Protecting the Profession

the washington

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 Kirsten S. Duke Chair Amanda V. O'Rourke Vice Chair Kristine L. Lambright Treasurer Jared M. Theis Secretary Thomas G. Donaghy Immediate Past Chair Kimberly D. Scott President & CEO Dawn E. Beck Bill Reed Christina J. Gehrke Thomas J. Sulewski Mary E. Joyce Susan L. Thomson Lowel J. Krueger Ronald L. Tilden Moses S. Man David E. Trujillo Rhonda S. Powell CHAPTER BOARD CHAIRS Laurel Cohen Bellingham Area Sarah Ozanne Everett Area Writu Kakshapati Olympia Area Brittany Malidore Seattle/Bellevue Area Lisa Cushman Spokane Area Fabian Benabente Tacoma Area Anthony Adams Tri-Cities Area Raquel Martinez Yakima Area

Jeanette Kebede Cory Wilmarth

Editor-in-Chief Assistant 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. Cover photo: WSCPA Hill Day 2019, © Shanna Paxton POSTMASTER: Send address changes to The WashingtonCPA, c/o WSCPA, 902 140th Avenue NE, Bellevue, WA 98005-3480.

www.wscpa.org

CONTENTS 4

Finding Balance as a Professional

Washington State Board of Accountancy Proposes Revisions to CPE

How to Become the Most Valuable Asset to a Cannabis CEO

Meet the 2019-2020 Board of Directors

The Future of the Foundation / Thank You to Foundation Contributors

Thank You to CPAPAC Contributors

Be a Time Monarch

How CPAs Impact Local Government: Vicky Dalton

DEPARTMENTS 4

Leadership Lens

Photo Album

Board Nominees

Chapters

Foundation

CPE Digest

Advocacy

Classified Ads

News Briefs

Member Profile

The WashingtonCPA Spring 2019

LEADERSHIP LENS

Finding Balance as a Professional

As I write this, many of you are still in the throes of busy season or have just finished up hectic year-end reporting. The demands of work can be challenging, but if you are juggling work and also a family, the combination can be downright overwhelming. As a CFO of a growing SaaS company, a wife, and a parent to three daughters, I am often asked how I manage it all. Apparently from the outside, it looks like I have it down. Truth be told, there are days I am barely staying afloat. I have piles of books on my bedside table to help me better manage the career and family balance; however, I am too exhausted at the end of the day to crack the books open. This balance struggle isn’t one only mothers manage, but also fathers or anyone attempting to balance a highly rewarding but challenging career with a life outside of work. I haven’t yet met anyone who thinks they have the equation between work and life solved. I can assure you I don’t either, but I can share themes I have identified to help me survive. Letting Go of Perfection Early in my public accounting career in the midst of an 80-hour busy season week, one of my managers said, “You can’t be perfect in everything you do. You will have to pick and choose what is important.” Letting go of perfection is hard for most of us type-A accountants. I didn’t truly understand this until later in my career. For years, I was running myself ragged striving for perfection in everything I did. I still have those moments, but I have attempted over time to adjust my expectations of myself. Recently, I was late for my oldest daughter’s birthday party. Her friends were arriving at our house, yet I wasn’t home from work. I was frustrated feeling that somehow my tardiness equated to my failing as a mother. At some point

The WashingtonCPA Spring 2019

By Kirsten Duke

As a working parent, there is always guilt. You won’t be able to attend every field trip. You might not be the super-stellar parent in your child’s classroom. You will inevitably miss some important moments. Accept that you won’t be able to do it all. Let go of the guilt and define what is important to you. during my drive home, I accepted the situation knowing that my husband was at our house where guests were arriving and my daughter, consumed with greeting her friends, would hardly notice I was 10 minutes late. Ultimately, my 10-minute late arrival did not ruin her birthday celebration, nor was I failing as a mother. In fact, with help from my husband plus a little from my parents, I somehow pulled off a party for 20 girls after working a full day in the office. It is important to remind ourselves that it’s okay to ask for help when we need it, it is okay that we aren’t perfect, and it’s healthy to recognize and celebrate our own accomplishments.

Define What Is Important There is a saying, “Leave the office at the office.” I find this incredibly challenging and am in awe of those who can actually do it. As a working parent, there is always guilt. You won’t be able to attend every field trip. You might not be the super stellar room parent in your child’s classroom. You will inevitably miss some important moments for your family. It is critical to accept you won’t be able to do it all. Let go of the guilt and define what is important to you. Sitting down as a family for dinner is important to our family. We don’t allow phones or computers at the table while we eat, and my husband and I attempt not to dominate the dinner conversation with our work. Instead, we ask our

www.wscpa.org

LEADERSHIP LENS

children about their days or whether they helped or did something nice for someone at school. Dinner may only last 15 minutes. It may not be a gourmet meal. It may not happen every night and, after a significantly stressful workday, I may break my own rule and monitor emails at the dinner table. However, both my husband and I do our best to protect our family dinner ritual. Putting my youngest to bed each night is another important ritual to me. I attempt to focus on her during this time. Admittedly, there are evenings while she and I are cuddled up together that she reads as I finish a work project. These nights are infrequent and aren’t ideal, but the bonus is that my nine-year old now has a budding fascination for Excel. Seek Flexibility Seeking out companies and leadership who support flexibility is critical to successfully managing career and family. I have been fortunate to find supportive companies and leaders throughout my career. I was on a flexible work arrangement for several years while at Ernst & Young, and I currently work a reduced schedule (80%) as the CFO of a growing SaaS company. I earned these arrangements by working hard and demonstrating my commitment to my leaders and the companies. I have realistic expectations that an 80% schedule doesn’t equate to a 32-hour work week in my current role as a C-level executive. However, the reduced schedule allows me the flexibility I need to better manage the balance between my career and my family. Flexibility is a two-way street. I love the flexibility I have in my career and I also recognize I need to allow flexibility in my life for my work. If I leave work early one day for a family commitment, another work day that week will likely be a long day. Just as important as finding a flexible leader to work with is being a flexible co-worker or leader yourself. When appropriate, I try to help those individuals who are trying to balance work with family. Is there someone around you who you can help?

www.wscpa.org

Time Management Maintaining flexibility involves purposeful time management. Creating focused time at work is critical and blocking my calendar is an effective method for doing so. I attempt not to allow Slack messages or emails to run my day, so that I can make headway on my “big rock” items. You won’t find me playing ping pong during the middle of the workday and you won’t find me going out to lunch unless it is for a meeting or team building. When I am in the office, I am purposeful with my time. There are days I eat lunch at my desk, so that I can wrap projects up. However, I also recognize the importance of my current role in connecting with people across the organization. As a result, I attempt to strike a balance between eating at my desk and also making an effort to eat lunch in our office common area to connect with others. Communication Balancing work and family requires strong and effective communication both at home and at work. At home, we have a family calendar in our kitchen. Each family member is assigned a color and activities are color-coded and included on the calendar. My family can look at the calendar to easily identify when my spouse or I will be traveling or what time and where their soccer game is. At work, my Google calendar is shared with my entire team and I keep it up to date. My team knows if I am working remotely, what hours they should expect me to be online, whether I need to leave early, or what time I will be heading out of the office. They also know how to contact me if I am not in the office. This ensures that the flexibility I have does not act as a roadblock to their progress. You Can’t Do It All - Ask for Help My career trajectory would not have been possible without help along the way. I didn’t get here on my own. I had help from my spouse, supportive leaders and peers, my parents, and my friends. My spouse and I aim to split our home responsibilities 50/50. We stay flexible though, since the split shifts with the

changing demands of our careers. There are certain weeks when my husband takes 80% and I take 20%, or other weeks when the inverse is true. We recognize neither one of us can manage the family responsibilities on our own. We are a team and rely on each other. When my schedule allows, I drive sports team carpools to help other working parents in our community. We all contribute what we can to help each other out. Carve Out Time for Yourself I have learned over the years that if I carve time out for myself each day, I am a better parent, team member, and leader. As a morning person, I wake at 5 AM while the house is quiet. After responding to work emails, I claim the next hour as “me time” reserved for exercise. I think more clearly and have a more positive disposition after I have exercised. Some of my clearest work ideas and solutions come to me during my morning runs (a concept recently supported by research). This time allows me to be more mentally balanced to approach the chaos of the day ahead. Lastly, there is an element of embracing chaos and giving yourself credit for doing the best you can. My household is chaotic as a result of both my husband and me juggling careers with a family, but we are raising three independent daughters who know what hard work looks like. And just maybe my nine-year-old, who has been exposed to Excel during her bedtime routine, will one day take that fascination and be inspired to become a CPA just like her mom!

Kirsten Duke, CPA, CGMA, is Chief Financial Officer at DomainTools and 2018-2019 Chair of the WSCPA Board of Directors. You can contact her at kirsten@ domaintools.com.

The WashingtonCPA Spring 2019

CANNABIS ACCOUNTING

Some relationships are just meant to be, like cedar plank salmon on a summer barbecue, or you and the WSCPA! Remember all the amazing things you and the WSCPA can do together?

Your Member Benefits Community 40 local chapter events!

Professional Education

7 bills passed since 2008!

10 free members only CPE credits!

5 member receptions last year! Connect at resource groups!

You get the freshest catch of opportunities—new clients, contacts, or jobs—by networking with thousands of WSCPA professionals.

Advocacy

$100 off 8-hour CPE courses!

Our CPE courses keep you updated on developments affecting your work. When you’re part of our school, you never have to swim alone.

You and the WSCPA are a match made in heaven. Renew now and see where else we can go together! www.wscpa.org/salmon | 425.644.4800 6 The WashingtonCPA Spring 2019

Advocacy news and alerts!

We ensure your voice is heard in an ever-changing legislative and regulatory environment, tipping the scales in your favor.

www.wscpa.org

LEADERSHIP LENS

Purposeful Advocacy

Last year the WSCPA rolled out its new purpose statement and strategies. Our purpose statement is, “We are a community of CPAs and financial professionals cultivating authentic relationships, unique learning experiences, and purposeful advocacy for our future.” When the Board of Directors was discussing this statement, there was a question about the meaning of purposeful advocacy for our future. It was a great question and one that I was excited to answer. In my time at the WSCPA, I have been able to observe this in action. Many people think about advocacy as weighing in on, or drafting bills, basically being a watchdog and staying on the defense. Although this is accurate and we do this every year, being purposeful for our future also requires strategy and planning. It requires a vision. As a CPA, your license is issued from a state board. This is true for many of the learned professions that require a license to work. However, our economy and way of life have been changing rapidly over the last few decades. Businesses may have physical locations in many states, and even if not, they are probably doing business in many states, or even globally, thanks to the internet. Leaders of the CPA profession saw this and made decisions to help CPAs better work with their clients. Much of this plan required purposeful advocacy. Nationally, there is a Uniform Accountancy Act (UAA), an outline of what ideal standards should be. This document is now in its eighth edition. Used as a guide, it can help ensure states have similar laws and regulations. It updates education requirements, as well as definitions. Having similar definitions allows for the profession to have substantial equivalency amongst states. Another key definition to have in alignment for all states is the definition of attest. The states have all worked hard to get our standards in alignment.

www.wscpa.org

From this building block, CPAs now have individual mobility in almost every single state and US territory. This means your license, unlike any other license for a learned profession, is recognized in other states, similar to a driver’s license. Washington was one of the first states to adopt this, and I think it is because we have forward-thinking leaders. Some states struggled to pass this legislation early on

Many people think about advocacy as weighing in on, or drafting bills, basically being a watchdog and staying on the defense. Although this is accurate and we do this every year, being purposeful for our future also requires strategy and planning. It requires a vision. since each state can only pass the ability to allow other licensees to come into their state. This struggle could have been from a lack of trust in others or a feeling of giving up something; in either case, it did not focus on the end vision. States are now working on passing firm mobility. Similar to individual mobility, this allows a public accounting firm to work in another state without obtaining a firm license, as long as they are licensed and in good standing with their state of residence. Again, Washington was one of the first to pass this, granting access to other states. Every year more states have been able to pass firm mobility. Washington has once again been a leader in the next to last frontier of mobility, across national borders. We are the first state to have limited mobility with our northern neighbors, in B.C. Canada. We

are working with our counterparts in British Columbia and they too endeavor to have limited mobility passed this year. Many other professions are just now trying to get interstate mobility as we have enjoyed for more than a decade. CPA leaders were definitely forward thinking, and willing to take calculated risks to keep our profession relevant, and to allow CPAs to better take care of their clients in this new economy. It was definitely purposeful advocacy. This is just one example and one challenge of many that the profession has overcome and will face. There are many challenges for and around the next generation of CPAs. Technology and diversity are key to future success. Rules and regulations will need to adapt to allow for new technologies to be used in audit, attest, and other lines of work. CPAs in the workforce have the challenge of constantly learning and adapting. Future CPAs will need to be diverse in thought and background to help drive the profession forward. In January 2018, Prime Minister Justin Trudeau said in a World Economic Forum speech, “The pace of change has never been this fast, yet it will never be this slow again.” Regardless of whether this remark energizes you or overwhelms you, the pace of change is not something we can ignore. I feel privileged to work with a profession and leaders who are willing to embrace and instigate change, instead of allowing it to just happen to us. Kimberly Scott, CAE, is President & CEO of the Washington Society of CPAs, and Executive Director of the Washington CPA Foundation. You can contact her at kscott@ wscpa.org.

The WashingtonCPA Spring 2019

By Kimberly Scott

CPE REVISIONS

Washington State Board of Accountancy Proposes Revisions to CPE By Mark Hugh During 2019, the Washington State Board of Accountancy is proposing to revise its rules on continuing professional education (CPE). Any draft revisions will be published in spring 2019 for public comment with anticipated full adoption in fall 2019. In 2016, the Statement on Standards for CPE programs was revised. This statement is a national professional standard that is modified by both the American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA). These revisions resulted in changes to Uniform Accountancy Act (UAA) Model Rules maintained by NASBA. When the Model Rules are adopted by state boards, acceptable CPE programs will include “nano-learning” and “blended learning” programs, as well as other changes. “Nano-learning” is a tutorial program designed to permit a participant to learn a given subject in a 10-minute time frame using electronic media (including technology applications and processes and computer-based or web-based technology) and without interaction with a real-time instructor. A nano-learning program differs from a self-study program in that it is typically focused on a single learning objective and is not paper-based. To provide evidence of satisfactory completion of the course, CPE program sponsors of nano-learning programs must require participants to successfully complete a two-question qualified assessment with a passing grade of 100% before issuing CPE credit for the course. “Blended learning” is an educational program incorporating multiple learning formats in a single program, such as group live education, group web-based learning, and nano-learning. As a result of these national changes, the Board is proposing to adopt several changes to Washington’s

The WashingtonCPA Spring 2019

CPE rules consistent with new national standards, and rewrite Washington’s CPE rules to be more consistent with revised UAA Model Rules, while still maintaining unique and longstanding Washington differences from the Model Rules. The major changes proposed from previous Washington CPE rules are: •

•

Nano-learning will be an allowable CPE format, but the total number of nano-learning credits is limited to 10%, or no more than 12 of the 120 hours in any three-year reporting cycle. Currently, a CPA can earn up to 64 hours of annual credit for service on or to the Washington State Board of Accountancy, up to 72 hours of credit in a reporting period for being the first-time instructor/ developer of CPE courses, and up to 30 hours of credit in a reporting period for published articles, books, and other publications. Under the revisions, no more than 60 hours of CPE credit in the aggregate will be allowed in any three-year cycle for Board service, first-time instructor/developer of CPE courses, and authorship of published articles, books, and other publications. A CPA will be required to complete a minimum of 20 hours of CPE in each year of the three-year reporting cycle. Board service, first time instructor/developer, or authorship of published materials will not count towards the 20-hour minimum. Currently, non-technical CPE, including subjects such as personal development and practice management, cannot exceed more than 24 hours in any threeyear reporting cycle. But under the proposed revisions, non-technical CPE credits will be limited to no

•

more than 60 of the 120 hours in any three-year reporting cycle. The “pre-lapsed renewal” process will be eliminated. “Pre-lapsed renewal” has been a process for CPAs who fail to obtain required CPE during their three-year reporting period and who also did not request an extension before the December 31 end of their reporting period. Under the current rules, these CPAs pay a $480 reinstatement fee. Under the revisions, CPAs are given an automatic extension of time to obtain CPE, but only one extension is granted for any two consecutive CPE reporting periods (six-year period). A CPA who obtains an extension request for the first CPE reporting period and fails to obtain required CPE for the second successive reporting period is ineligible for any extension and will be subject to the disciplinary process.

CPE reciprocity will be allowed for Washington CPAs who are residents of other states. The Board will be publishing proposed changes for comments by CPAs and members of the public. You can follow these proposed revisions in the Board’s newsletter and the Board’s website at www.acb.wa.gov.

Mark Hugh, CPA, is the principal of Mark Hugh PLLC. He is a CPA member of the Washington State Board of Accountancy. You can contact him at mark@ markhugh.com.

www.wscpa.org

CANNABIS ACCOUNTING

How to Become the Most Valuable Asset to a Cannabis CEO By Andrew Hunzicker

1. Cannabis is the most tightly-regulated industry in the U.S., posing unique financial challenges to business owners and CEOs. 2. Many cannabis companies are evolving out of the black market, with no knowledge of how to properly navigate accounting and tax procedures. Together, these factors result in a demand for qualified CPAs and bookkeepers that are educated on the nuances of serving businesses in the cannabis space. Since most large accounting firms are avoiding this sector while cannabis is federally illegal, there is a sizable lack of qualified cannabis accountants. This is where individual CPAs and smaller firms can take the reins. Cannabis businesses are subjected to tricky tax restrictions. Profit potential is limited for cannabis businesses, thanks to strict tax regulations including the Internal Revenue Code (IRC) Sections 280E and 471. For instance, under IRC 280E, cannabis companies are prohibited from deducting any business expenses due to the federal status of marijuana as a Schedule I substance. This means cannabis businesses are only allowed to write off the Cost of

www.wscpa.org

Zig Ziglar said, “You will get all you want in life, if you help enough other people get what they want.” As CPAs and financial professionals, we’ve been practicing that for many years as we assist clients and our organizations. If we can help our clients make more money, sleep at night knowing their books and taxes are done properly, and improve their ROI and cash flow by adding value to their firms, they will gladly pay us more money. There are specific challenges with the cannabis niche, however, that particularly offer new opportunities for CPAs and set Canna-businesses apart from other sectors: Goods Sold (COGS), which significantly increases taxes. Correct cost/absorption accrual accounting is necessary to ensure compliance with regulations. The key to mitigating these complications? Keeping books up-to-date and including supporting documentation, maintaining tied out monthly accounting work papers, and performing cost and GAAP accrual accounting in recurring financials to maximize benefits under IRC 471-11. So what does that mean in terms of how you actually provide cannabis CEOs and investors significant value? In addition to being reliable and available, you can offer your clients a long list of measurable deliverables: • Correct cannabis accounting • Minimizing taxes while staying compliant with GAAP and IRS • Maximizing peace of mind around compliance with IRS, state, and other agencies • Maximizing cash flow by providing key metrics around their business including product and shelf profitability and effectiveness of their marketing (ROI tracking/i.e., increasing dollars to bottom line) • Better cash forecasting

• Client data portal (to provide client/ auditor/investor/lender access to all documents, accounting, support, etc.) which increases valuation of their overall firm • Internal controls (including a month end tie out system) • Corporate governance guidance • Timely and proactive tax planning These items provide significant value to the CEO and investors, both short term in the day to day, and the long term. We’ve found that CEOs will gladly pay higher prices for these types of services as they realize a real return on their investment. How can you also give cannabis CEOs world-class service? 1. Become an expert in cannabis accounting (farm, manufacture, food, retail) and cannabis tax issues. 2. Learn how to help your clients comply with 280e/471 and maximize their allowable COGS allocations, and understand clearly all recent IRS cases around cannabis. 3. Participate in the cannabis community by attending conferences and other events where you can meet CEOs. 4. Commit to learning continuously and staying current with all cannabis industry aspects, particularly

The WashingtonCPA Spring 2019

CANNABIS ACCOUNTING

accounting and tax, but also operations, software, cash issues, banking, etc. 5. Provide first class accounting process and work (solid record keeping, cannabis chart of accounts, accrual/ GAAP entries, month-end tie out reports, cost accounting support, usable financials, forward-looking cash forecasts, consolidations, books that are 100% audit ready at all times, and tax support work-papers). 6. Help your client set up strong accounting policies, procedures, and internal controls and document the standard operating procedures in writing. 7. Assist your client in creating a virtual data room, where their documents (legal, corporate, contracts, leases, insurance, accounting, banking, payroll, HR, etc.) are always up-to-date, organized, and sharable). This is of tremendous value to the cannabis CEO who needs to be ready for investors, lenders, auditors, state compliance, and exits/joint ventures. 8. Create a knowledgeable, supporting team that has every skill set (cannabis, accounting, and legal) to enable you to address client questions and work jointly to serve clients as needed. Specializing in cannabis accounting will pay off—and make you indispensable. Even the smallest of cannabis

businesses can generate multimillion dollar revenue over a short span of time. Growing and expanding quickly, these companies have the ability to meet sizeable accounting fees and generously compensate the critical skillset you are bringing to the table. In a confusing industry wrought with banking issues and difficulty complying with FDA, OSHA, and state and federal regulations, CEOs understand the value of bringing in a qualified professional to assist with accounting—after all, the success of their business depends on it. Many cannabis businesses are unaware that an IRS audit could likely expose compliance problems they didn’t even know existed from prior year tax returns. These companies are running the risk of being slapped with steep fines and even being shut down altogether. By forming a specialty in the cannabis niche and providing solutions to the common pain points that cannabis CEOs face on a daily basis, you will make yourself invaluable to them. There are helpful resources available to teach you the ropes. For individuals looking to enter this highly nuanced and still maturing industry, it’s essential to begin honing your skills and learning the ins and outs of cannabis accounting. Fortunately, you’re not alone. There are numerous educational resources

to turn to for more information on cannabis accounting, beginning with the AICPA website. In addition, training programs have been designed specifically for the purpose of equipping finance professionals with the tools of the trade, along with a supportive network of peers available to help. My company, DOPE CFO, happens to offer such a program. Armed with this specialized knowledge and skill set—and with the freedom and flexibility to work remotely—you will soon be providing world-class financial services to cannabis businesses. Ultimately, this business move will open you up to a new source of clients and revenue not previously available. In a market projected for substantial growth in the coming years, now is the time to dive into the challenging, yet fruitful, cannabis realm; it’s a space in dire need of your expertise. Andrew Hunzicker is founder and partner of DOPE CFO. You can contact him at andrew@ cfobend.com. Join Andrew at the Bottles, Brews & Buds Conference, August 2. Learn more at www. wscpa.org/bbb.

IBA SELLS PRIVATELY HELD COMPANIES & FAMILY BUSINESSES Do you represent a client who is ready to retire or has taken a company as far as they want or can? IBA has a 44 year reputation for working collaboratively with CPA professionals on business sales. We welcome the opportunity to be a resource or professional asset to your clients. Complimentary conversations and first meetings with you & your clients to discuss the sale process. Knowledgeable, experienced intermediaries serving Washington, Oregon, & Alaska.

Please contact us at (800) 218-4422 or info@ibainc.com. 40 Lake Bellevue Drive, Suite 100 • Bellevue, WA 98005 • (425) 454-3052 • www.ibainc.com 10

The WashingtonCPA Spring 2019

www.wscpa.org

To learn more about accounting in the cannabis industry, come to the

www.wscpa.org/bbb

Escape into summer with these amazing offers from Passport!

•

Vacations By Rail - Save $25 per person on vacations under $1,500, $50 per person on vacations over $1,500.

•

Celebrity Cruise Lines - Use Passport for exceptional pricing and bonuses.

•

Disney World - Get discounted tickets to theme parks, theaters, and more.

•

Golf Vacations in Arizona - Save $100 on 4-person domestic golf trips, $200 for 4-person international trips.

A WSCPA Member Benefit www.wscpa.org/passport

www.wscpa.org

The WashingtonCPA Spring 2019

BOARD OF DIRECTORS

2019-2020 Board of Directors Nominees The Board of Directors is pleased to present for your review nominees for the Societyâ&#x20AC;&#x2122;s 2019-20 Board of Directors. In accordance with Article VI of the bylaws, all nominees will be declared elected by the secretary at the annual meeting unless other nominations, supported by at least one percent of membership, are received by April 1, 2019. If a contest for one or more positions develops, an election for those positions will be held at the meeting.

Jared Theis, CPA

Moses Man, CPA

Kris Lambright, CPA, CGMA

Position

Vice Chair

Position

Secretary

Positions

Treasurer

Term

1 year; becomes Chair 2020-21

Term

1 year

Term

1 year

Board service

Since 2017

Board service

Since 2017

Board service

Since 2015

Jared M. Theis, CPA, is an Audit Senior Manager in the Seattle office of KPMG LLP, working remotely out of Spokane. He provides financial statement and internal control audit services to a variety of public and non-public companies, primarily in the forest products, manufacturing, and real estate industries. Jared maintains an in-depth understanding of requirements and standards of the PCAOB, FASB, SEC, and Private Company Council. He is also frequently a guest speaker at various professional events and local college campuses, and currently serves as a member of the Accounting Advisory Boards for Washington State University and Eastern Washington University.

The WashingtonCPA Spring 2019

Moses Man, CPA, is the CEO of M Squared Tax PLLC, a CPA firm specializing in international taxation. His practice focuses on US international tax planning and compliance for small businesses and individuals. Prior to launching M Squared Tax, Moses spent 11 years at national and regional accounting firms serving multinational companies, including startups, venture capital funds, and Fortune 500 companies. Moses earned his B.A. from Seattle University and his Masters in Taxation from the University of Washington. Moses serves as an adjunct accounting and tax professor at both Seattle University and the University of Washington. A member of the WSCPA Board of Directors, he is also the chair of the International Tax Resource Group at the WSCPA.

Kris L. Lambright, CPA, CGMA, is the Chief Financial Officer for YWCA Seattle | King | Snohomish. She has been with the YWCA since 1999, CFO since 2004. Kris oversees accounting/ payroll, facilities and asset management, investments, and management information systems. Her prior work experience included government, public accounting, and private industry accounting. Kris is proud to serve as a WSCPA board member and is active in the WSCPAâ&#x20AC;&#x2122;s Not-for-Profit Resource Group. She also serves on the boards of College Spark Washington and the UW Alumni Association. Kris was recognized by the Puget Sound Business Journal as CFO of the Year in 2009. She is a graduate of the University of Washington and lives with her husband Tim in Seattle.

www.wscpa.org

BOARD OF DIRECTORS

Meet the Incoming Chair: Amanda O'Rourke, CPA

Sara Bailey, CPA

Andrew Brajcich, CPA

Position

Director

Position

Director

Term

3 years

Term

3 years

Sara E. Bailey, CPA, is a Tax Senior Manager at Moss Adams, LLP. Prior to becoming an accountant, Sara spent four years in the U.S. Army as a Blackhawk Mechanic. She has practiced public accounting since 2011. Sara serves as a business advisor to food, beverage, and agribusiness companies focusing on business consulting, tax planning and compliance, long-term succession planning, entity structuring, and long-term strategic solutions. Sara received her accounting degree from Central Washington University and is currently pursuing a MS-MBA in Food and Agribusiness Management at Purdue University.

www.wscpa.org

Andrew Brajcich, CPA, JD, LLM, is an Associate Professor of Accounting at Gonzaga University in Spokane. Andrew joined academia in 2012 and has been recognized thrice as the Masters Outstanding Faculty of the Year. He was named by the financial literacy and education website nerdscholar.com as one of the “2015 Top 40 Under 40 - Professors Who Inspire.” Andrew previously worked in the International Tax Services Group at Deloitte Tax LLP and served in the Peace Corps. He earned a BBA in Accounting from Gonzaga, a JD from the University of Florida, and an LLM in Tax from the University of Washington. His research is focused on international, individual, and S corporation tax. He also teaches continuing professional education throughout the country. When not on campus, Andrew and his wife Alex try to keep up with their two boys.

Amanda V. O’Rourke, CPA, is a Partner at Greenwood Ohlund, a mid-sized firm in North Seattle. She works with closely-held businesses, nonprofits and individuals, providing traditional accounting and custom consulting services. Born and raised in Washington, Amanda spent her professional life in Seattle. She has been an active member of the WSCPA including the Not-for-Profit Resource Group and, for the last five years, the Board of Directors. Board service has allowed Amanda opportunities for meaningful work with organizations whose mission is about a greater good. In addition to her work at the WSCPA, she has been a longstanding board member for the Seafair Foundation and a member of 501 Commons Finance Committee. Amanda earned her BA in Accounting from the University of San Diego. Once back in Seattle, she received a certificate of Nonprofit Management from the University of Washington. Amanda lives in Ballard with her husband and two kids. She tries to garden and appreciates any excuse to be outside. Occasionally she gets back up on a surf board but accounting remains her preferred day job.

The WashingtonCPA Spring 2019

BOARD OF DIRECTORS

Aaron Dawson, CPA

Diane Pietrowski, CPA

Leslie Sesser, CPA

Position

Director

Position

Director

Position

Director

Term

3 years

Term

2 years

Term

3 years

Aaron R. Dawson, CPA, is the Managing Shareholder of Opsahl Dawson CPAs based out of Vancouver, Washington. He has been the Managing Shareholder of the paperless “new age” CPA firm since purchasing the firm with his wife Jen Dawson, CPA, in 2009. Over the past 10 years, Aaron and Jen have grown the firm from 20 to 50 employees, making it southwest Washington’s largest CPA firm. Aaron is a graduate of Western Washington University and was previously a Tax Manager at Clark Nuber in Bellevue. Outside of accounting, Aaron enjoys coaching soccer for his three daughters and skiing with them in the mountains. Aaron also serves on boards for WSU Vancouver and the Boys and Girls Club of SW WA.

Diane Pietrowski, CPA, is the Chief Financial Officer at Plymouth Housing Group, a non-profit in Seattle providing permanent supportive housing for the homeless. A graduate of the University of Washington, Diane began her career at Loveridge Hunt CPAs, specializing in audits of affordable housing. After 13 years in public accounting, Diane served as Controller at Quantum Management Services, before joining Plymouth in 2007. Diane was a founding board member of the Affordable Housing Management Association of Washington, and currently serves on the finance committee of Path with Art. She was recognized by the Puget Sound Business Journal as a CFO of the Year finalist in 2012. In her spare time, Diane enjoys traveling with her husband Mark.

Leslie A. Sesser, CPA, is an Assurance Senior Manager at Finney, Neill & Company, P.S., where she serves not-for-profit organizations and real estate clients, including affordable housing, low income and historic tax credit projects. Leslie began her professional career in assurance at Ernst & Young, LLP and also served as the Learning Manager for the firm’s West Coast Advisory practice. Leslie received a Bachelor of Science in Accounting from George Fox University in 2001 and her CPA license in 2002. She currently serves as Co-Chair of the WSCPA Not-For-Profit Resource Group and as Treasurer of both her church and homeowner’s association.

REMAINING ON THE BOARD These members currently serve on the Board of Directors and will continue serving on the Board: Chair:

President & CEO:

Directors:

Amanda V. O'Rourke, CPA

Kimberly D. Scott, CAE

Bill Reed, CPA, CGMA

Immediate Past Chair:

Directors:

Kirsten S. Duke, CPA, CGMA

Christina J. Gehrke, CPA

Thomas J. Sulewski, CPA Susan L. Thomson, CPA

Lowel J. Krueger, CPA

The WashingtonCPA Spring 2019

www.wscpa.org

WASHINGTON CPA FOUNDATION

The Future of the Foundation By Peter Miller

On May 31, my term as a Washington CPA Foundation Trustee will come to a close. During my four years on the board, I have had the distinct honor to serve as the chair of the Scholarship Review Committee. While I plan to continue as a volunteer scholarship reviewer, I have been reflecting on my time in this role. Some very remarkable changes have taken place since I first joined the board in September 2015. I would like to thank my fellow board members and committee members, the volunteer scholarship reviewers and, of course, the wonderful staff of the WSCPA for their hard work and dedication to the profession and all the students who chose accounting as a career. They say timing is everything. I happened to be sitting in the chair at the right time, but so much of what has been accomplished was in motion well before I arrived and is the result of the work and commitment of so many others these

past years. Nevertheless, the progress is staggering and worth celebrating. In 2015, the Foundation awarded scholarships to 21 deserving students. After the 2015 scholarship season, a scholarship fund was created through legislation utilizing funds from the Washington State Board of Accountancy. The Washington CPA Foundation was contracted to manage that fund. At that point, things really started to take off. During the three completed scholarship seasons since I joined the board, 178 scholarships have been awarded, for a grand total of $890,000. Including the cycle currently in progress, over 1,200 applications have been started in the last four seasons, and 115 scholarship reviewers have volunteered their time and talent to the process (over 1,000 total hours for each scholarship season). During this time, the Roy J. Polley Endowment and the Rich Jones Accounting Scholarship Fund have been added as well.

Thank You to Foundation Contributors Thank you to the contributors, individuals, and organizations that support the work of the Foundation. You allow us to support a promising group of students and show them how much they are supported by the profession. It is exciting to show students that their future peers are also their supporters. We also want to thank the 50+ members who volunteered their time to review the applications. It is time consuming, fast-paced, and tough decisions have to be made. The program would not have the outstanding outcomes without them. Lastly, we want to celebrate over 70 accounting students in the state of Washington who recently were selected to receive a $5,000 scholarship. These students are extremely bright and excited about the accounting profession. Other applicants also showed remarkable potential for success. With your help, the Foundation will continue to advance the accounting profession in Washington State by connecting with and supporting these students, their educators, and others interested in the profession’s future.

www.wscpa.org

The future is bright! The Foundation continues to evaluate new and innovative strategies for investing in the future of the accounting profession. Accounting students at Washington colleges and universities have a tremendous opportunity before them with the funds secured for future scholarships. This leads me to one last thank-you, a thank-you to the students. Much has changed in the last four years, but what remains the same is the quality of the students who are impressive and talented. It has been an honor to hear your stories and provide support on your journey. Onward and upward! Peter Miller, CPA, CFE, is a shareholder with Clark Nuber, PS. You can contact him at pmiller@ clarknuber.com.

“My gratitude cannot be expressed enough. One day, I aspire to stand with the rest of the CPAs in Washington to help pass down this amazing scholarship to motivated students.” - Seeyoun Seong, 2018 Scholarship Winner

“Thank you for supporting my goals and the goals of the other scholarship recipients. Thank you for your aid to the aspiring CPAs of Washington State.” - John Wollam, 2018 Scholarship Winner

“One day I will be able to help other students achieve their goal of becoming a CPA just as you have helped me, and I hope to make you proud. Thank you for your generosity.” - Xiangyan Wang, 2018 Scholarship Winner

The WashingtonCPA Spring 2019

Foundation Contributors These contributors donated to the Washington CPA Foundation between March 2018 and February 2019. Named Scholarship Contributors and Endowments ($5,000+) Clark Nuber Accounting Scholarship CliftonLarsonAllen Accounting Scholarship Shimer Family Foundation / Deloitte Accounting Scholarship EY Accounting Scholarship KPMG Accounting Scholarship Moss Adams Accounting Scholarship Peterson Sullivan LLP Accounting Scholarship PwC Accounting Scholarship Sambataro Family Foundation TrueBlue Inc Rich Jones Accounting Scholarship by Deloitte Roy J. Polley Memorial Endowed Scholarship Waterman Endowed Scholarship Senior Executives Circle ($1,000-$2,500) Robert L Bunting Christopher W. Hesse, CPA Executives Circle ($500-$999) Pat L. Bohan, CPA, CGMA, CGFM Jolene G. Cox, CPA Jacqueline L. Davidson, CPA, CGMA Richard E. Jones, CPA, CGMA Kris L Lambright, CPA Moses Man, CPA Rhonda S. Powell, CPA David D. Schelert, CPA William A. Simer, CPA Jared M. Theis, CPA Leaders Circle ($250-$499) Erika Cecilia Amezquita, CPA, CGMA Diane Bingaman, CPA Adele Brady Bolson, CPA Justin A. Bourn, CPA Thomas G. Donaghy, CPA Scott E. Eschbach Christina J. Gehrke, CPA, CIA, CrFA Mark Alan Hugh, CPA Brett James Jordan, CPA, CGMA, CIA, CFSA Lowel J. Krueger, CPA, MBA Glenn M Light

The WashingtonCPA Spring 2019

Gerhard G Mueller, PhD Amanda V O'Rourke, CPA Diane Pietrowski, CPA Bill Reed, CGMA Kimberly D Scott, CAE Sound Community Bank Thomas J. Sulewski, CPA Ronald L. Tilden, MBA David E. Trujillo, CPA, CGMA Edward C Wartelle, CPA Hayden B. Williams, CPA, CGMA Senior Contributor ($100-$249) Erica Marie Ash, CPA, MBA Robert W Ash Mark A Avitt, CPA Dawn Esther Beck, CPA Michael C. Berry, CPA, CFP Sidney H. Boles, CPA Adele Brady Bolson, CPA Wayne R Borkowski, MBA Kai F. Bottomley, CPA Suzanne C. Chaille, CPA Amanda Yiwen Chang, CPA, MSTax Roger F. Clark, CPA Robert M. Cole, Jr, CPA, CGMA, MA Craig Stephen Connell, CPA Jay F Cramer Bonnie Lynn Curran, CPA Carol Elaine Didier, CPA Kirsten Simpson Duke, CPA, CGMA Leon F. Ficker, CPA Daniel W. Fisher, CGMA Joseph R. Forde, CPA Robert L Gerth Brian G. Gosline, CPA, JD Charles E. Hallett, IV, CPA, CGMA Gregg D. Jordshaugen Michael J. Kander, CPA, CIA Gary P. Kirchner, CPA Terri L Kitto Antonio M Laliberte, JD Donald W. Luby, CPA Sam Sam Martin, CPA, MBA, CFP Lillian Leslie McDonell, CPA, MBA Louis H. Mills, CPA Sandra J. Moss, CPA Terence V O'Keefe Molly M Philopant Sharon Kay Philpott, CPA Julleen J. Snyder, CPA, CGMA Terry D. Sodders, CPA Cynthia Jo Spencer, CPA, CGMA Gayle Ann Stetson, CPA Rebecca Beryl Stevens, CPA Michael D. Sweeney, CPA Edward D. Thomas, CPA Robert A. Underhill, CPA, JD William Lloyd Wells

Supporting Contributors ($1-$99) Lisa Rose Adams, CPA Carmen J. Aguiar, CPA, PFS, CFP Lydia I Ahn, CPA Michael R. Ammerman, CPA Alex T. Anderson, CPA Todd Stanley Arkley, CPA Gordon P. Asheim, CPA Melvin W. Ashland Phillip C. Baber, CPA Nicki L. H. Bailey, CPA John P. Baker, CPA Mary Eileen Baker, MSTax Marc G. Bateman, CPA Pamela Jean Beaton, CPA Diana Lynn Benson, CPA Robert Charles Best, CPA, JD Merrianne R Bieler Irene B. Birdsall, CPA Jennifer Lynn Bixel, CPA Gregg W. Blodgett Pat L. Bohan, CPA, CGMA, CGFM Megan Yeung Brady, CPA Paul W. Brandstetter, CPA William H. Bratton, CPA Rustin Porter Brewer, CPA Brian Richard Bronk, CPA David A. Brown Christine B. Brunner, CPA Gordon E. Budke, CPA Yasmin Lyn Caldwell, CPA Chimena Kristine Campbell, CPA Terry J. Campbell, CPA, MSTax Christopher M. Carlson, CPA, CCIFP Maria T. Carrion-Ochoa, CPA, CGMA Rebecca A. Cates, CPA Danny B Clark, CPA Alton R. Cogert, CPA, CGMA, CFA, CAIA R Douglas Collier, CPA Daniel Clancy Collins Elizabeth F. Copstead, CPA Gordon Robert Craig, CPA, CFE, CIA, CISA Cynthia Campbell Dabbs, CPA Stephen G. Dashiell, CPA Chris Davies, CPA, CMA Joseph P. Deacon, CPA Brenda Lee Dean, CPA, CIA Wesley L. Delaney, CPA Bruce J. Devereaux, CPA Julie A. Devine, CPA Billie Devore, CPA David L. Dierst, CPA Thomas N. Durrett, CPA Charles J. Dyer, CPA, CGMA, MBA Joseph Engel, CPA Robert J. Erickson, CPA, JD Kim E. Etlicher, CPA M Clydene Evans-Wenzel, RDH Scott Leroy Faires, CPA

www.wscpa.org

Charlotte R. Fairfield, CPA Joan Catherine Faubion, CPA Janice L Ferguson, CGMA George D. Fisher, CPA Marci Ann Flanery, CPA, PhD Norman H Frey James B Fulton, CPA Jack H. Gambill Steven C. Garber, CPA Chris A. Gates, CPA Dr Susan Gill Eleanor Ewing Gittelman, CPA Randolph Vincent Glein, CPA, PFS Bert R. Golla, CPA George D Goundry Donald W. Gracia, CPA, MSTax Matthew Lawrence Grajczyk, CPA Alan L. Gray, CPA Richard D. Greaves, CPA Gerald L. Greer, CPA Robert B. Gulrajani, CPA, CGMA, CEA, CSA, CFP Vaughn S. Hagen, CPA Lisa J. Hallmon, CPA Ageri Hansen Michael McAndrew Harman, CPA Darryl Loyd Harris, CPA Michael Patrick Hart, CPA, MPAC Cecile E. Haw Nancy Eileen Hayes, CPA Robert C Hayes, CPA Alicia Marie Heggerness, CPA M Suzanne Heidema, CPA Joshua Sumner Hemphill, CPA Patricia A. Hernandez, CPA, CGMA, MBA, CBM Shyh-Ing Hong, CPA William D. Hood Stephen J. Hopps, CPA Loren D. Hostek, CPA June E. Howard, CPA Michael James Howisey, CPA Paul V Hughes, CGMA, MBA Charles D. Huibregtse, CPA Michael K. Hutchinson, CPA Natalia Serge Jernegan, CPA Ronald A Johnson, MBA Kraig Andrew Jones, CPA Waylon P. Jones, CPA, CGMA, CFE Luther D. Jonson, CPA Mary E. Joyce, CPA Arthur Y Kageyama Osamu Kasuya Vildana Kato, CPA Raad T. Kattula, CPA James D. Kim, CPA Kristin L. Knopf, CPA, CGMA, MBA, MPAcc Kerry D. Konkler, CPA Karl J Korsmo Jocelyn Paige Krabbenschmidt Stroud W. Kunkle, CPA

www.wscpa.org

Teresa Lynn LaBonte Irene R. Laible, CPA Jordana L. LaPorte, CPA, MSTax Dr Margie Ness LaShaw, CPA Rick L. Linder, CPA Luellen H. Lockwood, CPA, MBA, EA Jessica J. Lustig, CPA John F. Lynch, CPA Peter L Madison, CPA Anthony Thanh Mai Elizabeth Ann Mance, CPA Michael John Mansfield, CPA Carrie Ann Martin, CPA Elizabeth Deak Masnari, CPA, CISA Daisaku Masuno Gregory Allen Matty, CPA Ronald A. Maus, CPA Eric Russell McCarthy-Zink, CPA Donald W McHargue James W. McKean, CPA Clinton B. Meadway Arthur D. Miles, CPA Sandra Kish Miller Ki Chul Min, CPA Donald W Mitchell Patricia G. Molnar, CPA Michael A Mugnolo Ryan L. Munn, CPA Alisa S. Na, CPA Kenshi Nagayoshi, CPA Bea L. Nahon, CPA, CGMA Judith Eng Nakatsu, CPA, MBA Stephanie Maria Neis, CPA, MBA David S. Nelson, CPA, CTRS Kaye J. Nelson, CPA Kristine T. Nelson, CPA, MPAcc Tasha Marie Nelson Mark Richard Newton, CPA, ABV Thomas P. Nicholas, CPA Clint A. Novak, CPA Donald G. Oellrich, CPA, MEd Aldryth Neilson O'Hara, CPA Joanne Lynn Ort, CPA, MPAcc Benjamin Page, JD Norman D. Paulson, CPA John I. Payne, CPA, CTP Ronald J. Perkins, CPA Dale G. Perry, CPA, CMA Jack B. Person, CPA Scott Thomas Petersen, CPA Michael Charles Plato, CPA Michael J. Plymale, CPA L Darrell Powell, CPA Edward L. Raisl, CPA Margo D. Reich, CPA Christopher J. Rieke, CPA Rachel M. Robert, CPA Frederick M Robinson, JD Donald L. Rodman, CPA, MBA

Lenore D. Romney, CPA, CFE, CVA Steven Donald Ross Harvey J. Rothschild, III, CPA, MBA Ken M Russell, CPA Richard H Russell Ronald D. Sabado, CPA, CMA, CGMA Stephanie Jeanne Salmon, CPA Abby Mae Sanders, CPA, CFE Susan J. Sanders, CPA Corey Alan Saunders, CPA Thomas P. Sawatzki, CPA Frederick W Schlect, CPA Sally G. Schloer, CPA Harold G Shapiro Christopher A Sherfey, MBA Jay T. Shilhanek, CPA Ralph Siegel Janis Harkins Simpson, CPA Orphalee Smith, CPA, PFS Russell Joseph Smith, CPA William J. Smith, CPA, CFE, CIA Stanley William Spavold, CPA Douglas D. Springer, CPA, PFS Cathy L. St John, CPA Charles T. Stadtmueller, CPA Nicholas Stagl William M Stanke Marie G.V. Sweet, CPA Duy-Linh Ta, CPA Linda M. Teachout, CPA Harold G Thompson, Jr Terry M. Thompson, CPA Susan Lynn Thomson, CPA Eric D Tilden Andrew To, CPA, CGMA, ABV, CM&AA, CFF Jasmin K Tumber Mark E. Ulloa, CPA John M. Urrutia, CPA, MSTax Susanne Wendy Vickerman, CPA, MSTax Thomas J Virgin, CPA, MBA Richard A Volk, CPA Franz Von Bradsky, MBA Dorothy R. Wagsholm, CPA Wayne F Walther Donald G. Watts, CPA Dennis O. Webb, CPA, MA Cecil R. Whitlock, CPA, MSTax, CSEP Jerry J. Wilkins, CPA Michele Williams Azucena A Wingard Natalie Wittrock Jacob Wood Shari A. Wood-Richardson, CPA Hannah Wright Justin Yamamoto, CPA Yvonne M York Stephen J. Zevenbergen, CPA Danielle Renee' Zlatich, CPA

The WashingtonCPA Spring 2019

www.wscpa.org

ADVOCACY

Protecting the Profession By Ashley Kittrell

At the time this article was written, the 2019 Legislature was more than halfway through their 105-day session. The number of bills introduced during legislative sessions is overwhelming. Representatives and staff review, write, and hear hundreds of proposals within a limited timeframe. While we can only attempt to predict what issues will be considered outside of each party’s stated priorities, we can get a good idea of what’s in the pipeline by observing growing trends across the country. For example, human resource issues such as paid family and medical leave have become a popular initiative in many states in response to federal inaction. One issue in particular that has quickly gained traction and directly affects the CPA profession is deregulation of occupations and professions. The intent of these proposals is to reduce or eliminate regulatory requirements and oversight for occupational licensing and certifications. The growing number of occupations that require a license or certification has raised concerns that unnecessary barriers to entry for occupations are being created, thus prohibiting many from finding jobs. Proponents argue that individuals spending hundreds of hours in the classroom and gaining practical work experience face overly burdensome requirements such as registration, exams, and fees. If an individual moves out of the state where he is licensed or certified, he is often required to complete similar training and requirements all over again. Since 2015, more than half of state legislatures have introduced proposals to eliminate or significantly change licensing regimes and requirements that have wide-reaching effects. For example, legislation introduced in West Virginia would allow unlicensed or

www.wscpa.org

Because these deregulation bills are written so broadly, learned professions tasked with consumer protection are often included. There will be harmful, unintended consequences for the CPA profession in particular if this legislation becomes widespread. uncertified individuals to provide certain services as long as the client signs a waiver acknowledging awareness of the individual’s lack of credentials. Because these bills are written so broadly, learned professions tasked with consumer protection are often included. There will be harmful, unintended consequences for the CPA profession in particular if this legislation becomes widespread. The continuing evolution of the CPA profession is multifaceted and spans decades. Nationwide efforts to allow interstate practices such as individual and firm mobility and CPE reciprocity significantly reduce the red tape and frustrating situations that many face when doing business or moving to another state. If these change, compliance across state lines will become more difficult and set the profession back decades. It is also important to consider what potential harm might be inflicted on the public if an unlicensed individual is hired to perform work that CPAs spend years learning and practicing. Another Enron, WorldCom, or Lehman Brothers? What disciplinary actions will an unlicensed individual face to ensure he is held

accountable and prevents further harm? Washington is certainly not immune to this issue. The WSCPA is always monitoring proposals to ensure that the pioneering measures to create mobility across state lines aren’t undone and continue to lead the way to more innovative solutions. We are also working to inform legislators of the dangers of including CPAs in these proposals and asking for careful consideration. Thank you to everyone who attended Hill Day and discussed the importance of the CPA license with legislators. While we cannot speak for others, appropriate oversight of the profession is necessary to shield the public from potential bad actors and to continue advancing the profession. Ashley Kittrell is the WSCPA Government Relations Coordinator. You can contact her at akittrell@wscpa.org or 425.586.1150.

The WashingtonCPA Spring 2019

ADVOCACY

Thank You to CPAPAC Contributors Thank you for helping build a strong voice and create a successful future for the CPA profession with your generous contribution to the Certified Public Accountant PAC! As the only professional association advocating for CPAs in Olympia, your contribution ensures that the profession maintains a strong presence and increases legislators’ understanding of the critical role CPAs play in preserving the state’s business climate.

Your Contribution...

Supports fellow CPAs running for office.

Enables successful legislative initiatives.

The WashingtonCPA Spring 2019

Ensures your voice is heard when important policy issues affecting the profession are considered.

CPAPAC Contributors These contributors donated to CPAPAC between March 2018 and February 2019. Firms Johnson & Shute PS Moss Adams Peterson Sullivan LLP PwC LLP Clark Nuber Sweeney Conrad Ambassador’s Club ($500+) Robert L Gerth Christopher W. Hesse, CPA Rhonda S. Powell, CPA Advocate’s Club ($100-$499) Justin A. Bourn, CPA Craig Stephen Connell, CPA Mary E. Dickinson, CPA Frank S Feeman, III Leon F. Ficker, CPA David Demarest Green, CPA, PFS, AEP, CFP William D. Hood Lowel J. Krueger, CPA, MBA Kris L Lambright, CPA Moses Man, CPA Bea L. Nahon, CPA, CGMA Molly M Philopant Bill Reed, CGMA Gayle Ann Stetson, CPA Rebecca Beryl Stevens, CPA Ronald L. Tilden, MBA David E. Trujillo, CPA, CGMA Robert A. Underhill, CPA, JD Cheryl K. Woods, CPA, CGMA Dawn Esther Beck, CPA Cameron Wiebe Donald Andrew Corbett, CPA Mark Alan Hugh, CPA Diane Pietrowski, CPA Jared M. Theis, CPA Hayden B. Williams, CPA, CGMA CPAPAC Member ($50-$99) Carmen J. Aguiar, CPA, PFS, CFP Erika Cecilia Amezquita, CPA, CGMA Benjamin Duncan Anderson, CPA Gordon P. Asheim, CPA Nicki L. H. Bailey, CPA Kiyosha B. Baird, CPA John P. Baker, CPA Marc G. Bateman, CPA David George Bembridge, CPA Michael C. Berry, CPA, CFP Robert Charles Best, CPA, JD Diane Bingaman, CPA

www.wscpa.org

Irene B. Birdsall, CPA Bruce E Bixler Jeffrey J. Bogdanovich, CPA, PFS Pat L. Bohan, CPA, CGMA, CGFM Adele Brady Bolson, CPA Brady William Borel Paul W. Brandstetter, CPA David A. Brown Christine B. Brunner, CPA Mary Ann Burns, CPA Terry R Caffey, Jr, CPA, CGMA, MSF Terry J. Campbell, CPA, MSTax Amanda Yiwen Chang, CPA, MSTax James E. Coates, CPA Robert M. Cole, Jr, CPA, CGMA, MA Jolene G. Cox, CPA Jay F Cramer Cynthia Campbell Dabbs, CPA Vicky M. Dalton, CPA, CGFM Brandon Lee Darden, CPA Stephen G. Dashiell, CPA Chris Davies, CPA, CMA Joseph P. Deacon, CPA Wesley L. Delaney, CPA Billie Devore, CPA Thomas G. Donaghy, CPA Kirsten Simpson Duke, CPA, CGMA Scott C. Eastham, CPA Joseph Engel, CPA Scott E. Eschbach Daniel W. Fisher, CGMA George D. Fisher, CPA Norman H Frey Jack H. Gambill Maria-Elena Garcia-Zapata, CPA, CGMA, MBA Chris A. Gates, CPA Christina J. Gehrke, CPA, CIA, CrFA Richard N. Ginnis, CPA Randolph Vincent Glein, CPA, PFS Bert R. Golla, CPA William J. Graham, CPA Rick H. Graham, CPA Matthew Lawrence Grajczyk, CPA Alan L. Gray, CPA Richard D. Greaves, CPA B Heath Gunn, CPA Vaughn S. Hagen, CPA Lisa J. Hallmon, CPA Ageri Hansen Michael McAndrew Harman, CPA Michael Patrick Hart, CPA, MPAC M Suzanne Heidema, CPA Teresa A. Herrin, CPA John R. Hodder, CPA Stephen J. Hopps, CPA Navzer Rustom Hormazdi, CPA, MSTax, MT Loren D. Hostek, CPA June E. Howard, CPA Charles D. Huibregtse, CPA Marc S. Hutchinson, CPA

www.wscpa.org

Michael K. Hutchinson, CPA Thomas M. Jeannet, CPA Waylon P. Jones, CPA, CGMA, CFE Brett James Jordan, CPA, CGMA, CIA, CFSA Mary E. Joyce, CPA Arthur Y Kageyama Osamu Kasuya Kristin L. Knopf, CPA, CGMA, MBA, MPAcc Jocelyn Paige Krabbenschmidt Mary Lynne Kuney, CPA Stroud W. Kunkle, CPA Irene R. Laible, CPA Jeff E. Leary, CPA, CFP Kwang Mok Lee, CPA John J. Lee, CPA Deborah Michelle Loober, CPA Jessica J. Lustig, CPA John F. Lynch, CPA Kurt C. Maass, MA Elizabeth Ann Mance, CPA Elizabeth Deak Masnari, CPA, CISA Daisaku Masuno Ronald A. Maus, CPA Eric Russell McCarthy-Zink, CPA Lillian Leslie McDonell, CPA, MBA Robert Paul McKinley, CPA Sandra Kish Miller Donald W Mitchell Mark J. Morrissette, CPA Craig K. Mueller, CPA Kristine T. Nelson, CPA, MPAcc David S. Nelson, CPA, CTRS Tasha Marie Nelson Mark Richard Newton, CPA, ABV Thomas P. Nicholas, CPA Clint A. Novak, CPA Gregory L. Oien, CPA Amanda V O'Rourke, CPA Joanne Lynn Ort, CPA, MPAcc Benjamin Page, JD Mawrseo F. Peralta, CPA Linda M. Perry, CPA, MT Jack B. Person, CPA Scott Thomas Petersen, CPA Sharon Kay Philpott, CPA Michael Charles Plato, CPA Michael J. Plymale, CPA Edward L. Raisl, CPA Robert J. Rebar, CPA Margo D. Reich, CPA Christopher J. Rieke, CPA Scott David Rodgers, CPA, MSTax Donald L. Rodman, CPA, MBA Lenore D. Romney, CPA, CFE, CVA Ken M Russell, CPA Richard H Russell Craig S. Ruthford, CPA Stephanie Jeanne Salmon, CPA Abby Mae Sanders, CPA, CFE Susan J. Sanders, CPA

Thomas P. Sawatzki, CPA James D. Schafer, CPA, MS Daniel J. Schroeder, CPA Harold G Shapiro Jay T. Shilhanek, CPA Ralph Siegel William J. Smith, CPA, CFE, CIA Orphalee Smith, CPA, PFS Stanley William Spavold, CPA Douglas D. Springer, CPA, PFS Charles T. Stadtmueller, CPA Sidney J. Starr, CPA, CGMA, CFF Thomas J. Sulewski, CPA Marie G.V. Sweet, CPA Duy-Linh Ta, CPA Linda M. Teachout, CPA Terry M. Thompson, CPA Harold G Thompson, Jr Susan Lynn Thomson, CPA Eric D Tilden Micah G Trautman Dino W. Traverso, CPA, MSTax Jasmin K Tumber Robert E Turner, CPA, MAcc Mark E. Ulloa, CPA Susanne Wendy Vickerman, CPA, MSTax Thomas J Virgin, CPA, MBA Dennis O. Webb, CPA, MA Cecil R. Whitlock, CPA, MSTax, CSEP H Thomas Wick Jerry J. Wilkins, CPA Michele Williams Natalie Wittrock Carol Ann Woo, CPA Justin Yamamoto, CPA Josh Josh Yeyni, CPA, PS Stephen J. Zevenbergen, CPA Contributors ($1-$49) Joseph B Boland Nicholas Stagl Hannah Wright Gordon Robert Craig, CPA, CFE, CIA, CISA Dave E. Hasslinger, CPA Ronald A Johnson, MBA Teresa Lynn LaBonte Peter L Madison, CPA Steven Donald Ross Richard A Volk, CPA Jacob Wood Rebecca A. Cates, CPA Brenda Lee Dean, CPA, CIA Donald G. Oellrich, CPA, MEd John M. Urrutia, CPA, MSTax Kelly Douglas Barber, CPA, MSTax Eleanor Ewing Gittelman, CPA George D Goundry Ryan L. Munn, CPA Judith Eng Nakatsu, CPA, MBA Leslie Harrison Redd, III, CPA

The WashingtonCPA Spring 2019

NEWS BRIEFS

SPECIAL MEMBER BENEFIT FROM GRAVITY PAYMENTS

Finally, an Easy (and Affordable) Way to Accept Payments Online The credit card processing industry can be unkind to local business. Predatory practices squeeze as much as possible from even the savviest business owners, using tactics like hidden fees, ironclad agreements with vague terms, and non-existent support. Gravity Payments is changing that. Headquartered in Seattle, Gravity is trusted by over 20,000 businesses to reduce the costs and headaches of accepting credit cardxpayments through transparentxpricing, 24/7 support, and affordable rates. Did you know twice as many consumers prefer paying by card than by check or ACH payment? That’s why the WSCPA partnered with Gravity to offer your practice a custom payment page. Give your clients a better experience by providing a simple, secure way to pay online. Your payment page is customized to your website, creating a seamless checkout experience for your clients. More convenient for them, less hassle for you.

YOU'RE INVITED! 2019 ANNUAL MEETING Wednesday, June 5, 2019 Columbia Winery | Woodinville

Learn more at www.gravitypayments.com/WSCPA or contact Jake Feeman at 866.701.4700 x 694 or jfeeman@gravitypayments.com

See why the WSCPA chose Gravity as their preferred provider and experience for yourself why they keep customers over five times longer than the industry average.

Free Monthly PCPS Resource In partnership with the AICPA’s Private Companies Practice Section (PCPS), the WSCPA offers a free monthly tool every month atxwww.wscpa.org/pcpsresources. Past tools have included: • Engagement Review Tool • Clients Goals and Challenges Worksheet • National MAP Survey Executive Summary Watch your Short Form for a link to the latest tool or visit the website.

VOLUNTEER OPPORTUNITIES Come learn about the biggest challenges and changes you’ll see in the coming yearsxandxcelebratexthe future of the profession with your fellow members!

The WashingtonCPA Spring 2019

The following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters.

•

Master Chorus Eastside

•

Helping Link/Mộot Dấau Nốoi

•

SPLASHForward

Learn more about these and other organizations in need of help under Volunteer Opportunities for CPAs, at www. wscpa.org/volunteer.

www.wscpa.org

NEWS BRIEFS

Find A CPA Referral Service Potential clients are looking. Make sure you're listed.

Trying to catch the best CPA talent you can?

Over 540 potential clients use the WSCPA Find a CPA Referral Service every month in search of a new CPA. With just one click, they have easy access to all the information they need toxfindxyou,xsearchingxbyxservices offered, areas of expertise, as well as your location. We are excited to announce new pricing for this easy-to-use service. For just $50, your initial listing will be displayed for a full year. Any additional office listings are only $25 each. While you juggle your numerous priorities and responsibilities, let the WSCPA Find a CPA Referral Service help you expand your client base. Enrollxnowxatxwww.wscpa.org/ find-a-cpa. For more info, you can callx425.586.1142. Youxcanxalso email memberservices@wscpa.org.

Post your position online now! For $100, your job opening will be listed for 60 days on the Job Board on the WSCPA website.

Drop your line at the WSCPA Job Board. www.wscpa.org/job-board

HELP US PUT A SMILE ON YOUR FACE! Are you into taxation? How about fraud or not-for-profit? Tell us what interests you and weâ&#x20AC;&#x2122;ll deliver more relevant news and updates.

Update your interests at www.wscpa.org/mywscpa OFFICE CLOSURES The WSCPA office will be closed on the following days: May 27 (Memorial Day) July 4 (Independence Day) www.wscpa.org

The WashingtonCPA Spring 2019

CAMICO – Affinity Partner of the WSCPA “Since 1997, the Washington Society of CPAs has been proud to be partners with CAMICO, which provides invaluable, ongoing and generous support of WSCPA members with insurance and risk management solutions designed specifically for CPAs. We have tremendous respect for the company and its leaders, whose commitment to the profession is recognized throughout the CPA community.” Kimberly Scott President and CEO WSCPA

Why CAMICO? • For more than 32 years, CAMICO has been protecting CPAs with insurance solutions tailored to the professional services and concerns faced by CPA firms every day.

• Policyholders can call CAMICO as often as needed – free of charge – and consult with in-house experts on loss prevention, tax, and accounting and auditing issues.

• CAMICO’s depth of services for CPA firms is unmatched by other insurance programs.

• CAMICO policyholders have free unlimited access to proactive loss prevention and claims handling.

These are just some of the reasons why the WSCPA selected CAMICO as the Society’s affinity partner and provider of Professional Liability Insurance. Harris Hauptman Senior Account Executive T: 800.652.1772 Ext. 6727 E: hhauptman@camico.com W: www.camico.com

Accountants Professional Liability Insurance may be underwritten by CAMICO Mutual Insurance Company or through CAMICO Insurance Services by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. ©CAMICO Services, Inc., dba CAMICO Insurance Services. All Rights Reserved.

The WashingtonCPA Spring 2019

www.wscpa.org

TIME MANAGEMENT

Be a Time Monarch By Keita Williams

Time is literally your most valuable asset. Being in control of how and on what you spend your time can keep you from teetering over the burnout edge. I have a very controversial view on time management. I simply don’t believe in it. Management implies that it has free will and a choice in behaving. Stop trying to manage your time. Rule your time! Move your mindset from manager to monarch. You are the queen or king of your time. How does ruling your time differ from time management? It requires deeper self-awareness, discipline, and ferocity to protect and leverage your time as the powerful tool that it is. Here are three quick tips to help you rule your time. Don’t Be a Jerk to Your Future Self I love this old saying: “What you sow at night, you reap in the morning.” Invest a few minutes in the evening, so you can start your day off strong. What does that look like in practice? Before you leave the office or close your laptop for the night, prepare your nonnegotiable list for the next day. Take that extensive list and turn it into your Pick 6. Focus on the six most impactful tasks you can conquer the next day. Trust me, this activity will help you sleep better at night. No more running through all the things you forgot to do instead of counting sheep. When you start your day, you already have a plan of attack. I even apply this principle to my outfit choices. I lay out my clothes, under-

garments, and accessories the night before. In the morning, I don’t waste time trying to find the individual pieces or making up my mind on what I am going to wear. Practice the Art of Time Honesty One thing that can completely throw off your schedule is overestimating how much you will accomplish by underestimating how long it will take to complete a task. One of my time ruling tips is to practice “time honesty.” For every simple task, add 30 minutes. If you think it is going to take you 30 minutes, it is really going to take you an hour. For deeply technical involved tasks, buffer your timeline by 60-90 minutes depending on the level of complexity. Time honesty is a way to keep you on track with your deliverables and your sanity. I even use this methodology for commuting. If I think it is going to take me 30 minutes to get to my next meeting, I add an additional 30-minute buffer. I would rather arrive early and answer a few emails than arrive late in a sweaty panic.

time protecting so I can get this deliverable out the door. Can we schedule a time to chat a bit later? I want to give you my undivided attention.” Then, book the real meeting on the spot in both of your calendars. For those tasks that can turn into a total time suck, set a timer and stay within your allotted time. I use this technique for research and social media. I am a lifelong learner, so I easily fall down an information hole with research. I love to digest and consume new knowledge, so I must give myself 60 minutes. If I cannot find what I need in that timeframe, I call a lifeline. Similarly, I switched to checking social media three times a day. Once in the morning, once midday, and once in the evening. We are only scratching the surface on ruling your time with these three jumpstart tips. It takes commitment and consistency to put these into practice, but over time it gets easier. Keita Williams is the Founder and Chief Strategist of Success Bully. You can contact her at keita@successbully.com. Join Keita at the Women’s Leadership Summit on June 13, 2019, where she will share more about time management and goal setting. Learn more and register at www.wscpa. org/wls2019.

Protect Your Time Kingdom In an open format office, it takes a more concerted effort to stay on task. It is easy for people to stop by your desk to ask questions and chit-chat. While this is amazing for collaboration and real-time problem solving, this can throw us off pace to finish tasks. When you have one of these “pop-up meetings,” ask the person if it is mission critical. If it is not, simply say, “Hey Ted, I am

Women's Leadership Summit 2019 June 13 | Meydenbauer Center www.wscpa.org/wls2019 www.wscpa.org

The WashingtonCPA Spring 2019

For more event photos, go to www.wscpa.org/gallery.

Hill Day Photo Album

Members wait outside the House Speaker's office.

Hill Day Photography © Shanna Paxton

Members meet with House Speaker Chopp.

Jones, Steve Miller, Gebhardt, and Richard Burger Mackey The WashingtonCPA SpringBrandon 2019 26 Waylon

www.wscpa.org

EVENTS

Treasurer Davidson meets with members.

Jessica Packer and Brian Forsythe meet with Sen. Conway

www.wscpa.org

Susie Thomson and Carmen Aguiar meet with Rep. Thai.

Members in front of the Legislative Building. The WashingtonCPA Spring 2019 27

Chapter Events www.wscpa.org/chapters For more information, contact Katie Berry at kberry@wscpa.org.

DATE

CPE EVENT

CODE

LOCATION

Bellingham Area Chapter 5/6/19

Federal Tax Update with the Skagit Bar Association, 5-7pm

19CHBLMY06 Max Dale’s Restaurant (Mount Vernon)

Seattle Area Chapter 5/30/19

Sips in SoDo, 6-8pm

19CHSBMY30 Nine Hats Tasting Room (Seattle)

9/18/19

Soccer and Scarves in Seattle: 2019 Sounders Networking, 6-9pm

20CHSBST18

CenturyLink Field (Seattle)

19NPMY02

Hilton Downtown Vancouver

Vancouver Area Chapter 5/2/19

Members’ Reception Vancouver (Members Only), 6-8pm

WE START BY LENDING AN EAR. We take time to understand your business needs, so we can help solve them. No two businesses are alike. So cookie cutter loans won’t cut it. At Columbia Bank, we work closely with you from the beginning of the loan process to make sure we’re setting you up with the right loan to reach your unique business goals. Which means we do something other banks don’t always do—listen. Visit ColumbiaBank.com.

Member FDIC

Equal Housing Lender

The WashingtonCPA Spring 2019

www.wscpa.org

CPE Digest www.wscpa.org/cpe

YOU FOUND YOUR UNICORN.

Prix Fixe CPE Selected Webinars Federal Tax Review Agriculture Tax Update The State of State Taxes! Healthcare Accounting Checkup Succession Planning: What’s Next? Accounting & Auditing Review Peer Review Update COSO Review Technology Update Cybersecurity - Don’t Become a Statistic

Webinar Series Fridays, 12-1 PM

Dates 6.28.19 7.12.19 7.19.19 8.23.19 9.20.19 10.4.19 10.11.19 11.8.19 11.15.19 12.13.19

Convenient CPE is as rare and elusive as a unicorn. Prix Fixe CPE gets you up to 30 select one-hour webinars for just $298! Now that’s magical!

The Washington Society of CPAs is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

www.wscpa.org/cpe

www.wscpa.org

For information on WSCPA CPE policies, visit www.wscpa.org/cpe/cpe-policies or call 425.644.4800. The WashingtonCPA Spring 2019

EDUCATION AND EVENTS CPE Credits

Date

Course

EVENTS BY SUBJECT Type WSCPA#education and events scheduled for April 2019 August 2019 are listed below, chronologically by subject.

LEARN MORE To view complete course details, please visit the CPE & Event Catalog at www.wscpa.org/store.

CPE Credits

Date

WSCPA Member Fee

Code

NonMember Fee

AICPA Member Discount

Location

NEED HELP finding a seminar or webcast? Call 800.272.8273 or 425.644.4800.

Course

Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Accounting 4/17

Preparing Financial Statements for Clients WEBCAST, 12:30pm - 4pm

19WBCAP17A

120

188

Your Desk

4/17

Small-Business Financial Statements WEBCAST, 8:30am - 12pm

19WBCAP17B

120

188

Your Desk

4/18

GAAP Update WEBCAST, 8:30am - 4pm

19WBCAP18A

245

375

Your Desk

4/23

Key Ratio Analysis WEBCAST, 8:30am - 4pm

19WBCAP23A

245

375

Your Desk

4/23

Leases: Mastering the New FASB Requirements WEBCAST, 8am - 4pm

19WWLEASAP

295

395

Your Desk

4/23

Leases: Mastering The New FASB Requirements, 8am - 4pm

19LEASAP23

305

405

4/24

Accounting's Perfect Storm: A Moving Target! WEBCAST, 10am - 2pm

19WBAAP24A

129

159

Your Desk

4/24

Revenue Recognition: Mastering The New FASB Requirements WEBCAST, 8am - 4pm

19WWINRRAP

295

405

Your Desk

4/24

Revenue Recognition: Mastering The New FASB Requirements, 8am - 4pm

19INRRAP24

305

405

4/25

SSARS Codification: Preparation, Compilation and Review of Financial Information WEBCAST, 8:30am - 4:30pm

19WBCAP25B

245

375

Your Desk

4/26

Understanding and Creating an Internal Control Structure WEBCAST, 8:30am - 4pm

19WBCAP26A

245

375

Your Desk

5/1

Who Stole My Balance Sheet: The FASB Research Project Continues WEBCAST, 10am - 2pm

19WBAMY01A

129

159

Your Desk

5/2

Shorten Month End - Apply Lean Thinking to Your Month-End Closing Process WEBCAST, 7am - 11am

19WBAMY02A

139

169

Your Desk

5/4

Commonly Missed Analytical Procedures WEBINAR, 9am - 11am

19WNCMY04A

Your Desk

5/8

FASB's Revenue Recognition Topic 606 WEBINAR, 11am - 1pm

19WNCMY08B

Your Desk

5/9

Fiduciary Accounting for Estates and Trusts WEBINAR, 9am - 11am

19WNCMY09B

Your Desk

5/13

FASB's New Lease Accounting Standard WEBINAR, 11am - 1pm

19WNCMY13A

Your Desk

5/13

Payroll Fraud: Detection and Prevention WEBINAR, 1:30pm - 3:30pm

19WNCMY13B

Your Desk

5/16

Measuring and Reporting on Sustainability WEBCAST, 9am - 11am

19WBAMY16A

109

Your Desk

5/20

FASB's Revenue Recognition Topic 606 WEBINAR, 8:30am - 10:30am

19WNCMY20A

Your Desk

5/23

Accounting's Perfect Storm: A Moving Target! WEBCAST, 7am - 11am

19WBAMY23A

129

159

Your Desk

5/24

FASB's New Lease Accounting Standard WEBINAR, 10:30am - 12:30pm

19WNCMY24B

Your Desk

5/29

Commonly Missed Analytical Procedures WEBINAR, 9am - 11am

19WNCMY29A

Your Desk

5/29

Shorten Month End - Apply Lean Thinking to Your Month-End Closing Process WEBCAST, 11am - 3pm

19WBAMY29A

139

169

Your Desk

5/30

Defective Compensation Systems: When Bonuses and Incentives Go Bad WEBINAR, 1pm - 3pm

19WNCMY30B

Your Desk

8/1 8/2

L 

Bottles, Brews and Buds Conference, 8am - 5pm

20BBB

425

525

Bellevue

8/1 8/2



Bottles, Brews and Buds Conference WEBCAST, 8am - 5pm

20WWBBB

325

425

Your Desk

The WashingtonCPA Spring 2019

-30

Bellevue

Networking event | C CFP

www.wscpa.org

CPE Credits

Course

EDUCATION AND EVENTS WSCPA Member Fee

Code

Type

NonMember Fee

AICPA Member Discount

Location

Accounting (Governmental) 4/20

4/25

4/30

Performance Auditing Made Easy WEBCAST, 8am - 10am

19WBAAP20A

109

Your Desk

Government OPEB Accounting and Financial Reporting WEBCAST, 8:30am - 12pm

19WBCAP25A

120

188

Your Desk



Governmental Accounting & Auditing Conference 2019 WEBCAST, 8am - 5pm

19WWGAAC

375

475

Your Desk

L 

Governmental Accounting & Auditing Conference 2019, 8am - 5pm

19GAAC

385

485

SeaTac

Auditing 5/6

Preventing, Detecting, and Investigating Identity Theft WEBCAST, 7:30am - 3:30pm

19WBBMY06A

279

349

Your Desk

5/6

Winning The Fraud Battle In The Digital Age: Prevention and Detection WEBCAST, 8am - 4pm

19WWCFVVMY

310

410

Your Desk

5/6

Winning The Fraud Battle In The Digital Age: Prevention and Detection, 8am - 4pm

19CFVVMY6

320

420

Bellevue

5/7

Internal Controls That Matter: Managing Risk With The Updated COSO Framework WEBCAST, 8am - 4pm

19WWCOSFMY

310

420

Your Desk

5/7

Internal Controls That Matter: Managing Risk With The Updated COSO Framework, 8am - 4pm

19COSFMY7

320

420

Bellevue

5/20

Fraud and Cash Receipts: Common Frauds and Internal Controls WEBCAST, 11:30am - 3:30pm

19WBBMY20A

179

229

Your Desk

5/28

Revenue Recognition—Risks NOT in the New Standard WEBINAR, 11am - 1pm

19WNCMY28A

Your Desk

6/17

Audits of 401(k) Plans WEBCAST, 8am - 4pm

20WWAFKPJN

295

395

Your Desk

6/17

Audits of 401(k) Plans, 8am - 4pm

20AFKPJN17

305

405

6/18

Annual Update for Accountants and Auditors WEBCAST, 8am - 4pm

20WWAUAAJN

295

395

6/18

Annual Update for Accountants and Auditors, 8am - 4pm

20AUAAJN18

305

405

-30

Bellevue Your Desk

-30

Bellevue

Auditing (Governmental) 4/23

Cost Principles for State and Local Governments and Nonprofit Organizations WEBCAST, 8:30am - 4pm

19WBCAP23B

245

375

Your Desk

4/26

Government Auditing Standards WEBCAST, 8:30am - 4pm

19WBCAP26B

245

375

Your Desk

5/15

Performance Auditing Essentials WEBINAR, 10:30am - 12:30pm

19WNCMY15B

Your Desk

5/15

Yellow Book Standards for Performance Auditors WEBINAR, 7am - 9am

19WNCMY15A

Your Desk

5/17

Controls Over Compliance: An Advanced Discussion WEBCAST, 2pm - 4pm

19WWCOCMY

100

Your Desk

5/17

L Y

Controls Over Compliance: An Advanced Discussion, 2pm - 4pm

19COCMY

110

Bellevue

5/17

New Yellow Book: An Effective Implementation WEBCAST, 12pm - 1:45pm

19WWNYBMY

100

Your Desk

5/17

L Y

New Yellow Book: An Effective Implementation, 12pm - 1:45pm

19NYBMY

110

Bellevue

5/17

Nonprofit Update WEBCAST, 8am - 11:30am

19WWNPUMY

170

200

Your Desk

5/17

L Y

Nonprofit Update, 8am - 11:30am

19NPUMY

180

200

Bellevue

5/17

Nonprofit Auditing 2019 Bundle WEBCAST, 8am - 4pm

19WWNPABUN

295

395

Your Desk

5/17

L Y

Nonprofit Auditing 2019 Bundle, 8am - 4pm

19NPABUN

300

400

Bellevue

5/21

The Single Audit from Beginning to End WEBCAST, 8am - 4pm

19WBAMY21A

195

245

Your Desk

www.wscpa.org

Networking event | C CFP

The WashingtonCPA Spring 2019

EDUCATION AND EVENTS CPE Credits

Date

Course

Code

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Business Law 5/10

Foreign Corrupt Practices Act: Practical Compliance WEBINAR, 8am - 10am

19WNCMY10A

Your Desk

5/17

Member Exclusive: Employment Law Review WEBINAR, 12pm - 12:50pm

19LLMY17

Your Desk

Business Management & Organization 4/26

Open Book Management: Making it Work in the Real World WEBINAR, 9am - 11am

19WNCAP26A

Your Desk

4/30

Staff Retention: Attract and Keep the Best People WEBCAST, 7am - 11am

19WBAAP30A

129

159

Your Desk

5/3

4 Critical Factors to Create Sustainable Growth WEBINAR, 8am - 10am

19WNCMY03A

Your Desk

5/6

Staff Retention: Attract and Keep the Best People WEBCAST, 8am - 12pm

19WBAMY06A

129

159

Your Desk

5/10

Prix Fixe: Greater than the Sum of Its Parts: Why Diversity Matters WEBINAR, 12pm - 12:50pm

19LLMY10

29.99

49.99

Your Desk

5/14

Leadership Skills for Peak Performance in 21st Century WEBINAR, 12pm - 2pm

19WNCMY14A

Your Desk

5/17

Outsourcing Relationships: Enjoy Benefits, Avoid Pitfalls WEBINAR, 8:30am - 10:30am

19WNCMY17A

Your Desk

5/20

Don’t Let Conflict Derail your Relationships WEBINAR, 1:30pm - 3:30pm

19WNCMY20B

Your Desk

5/22

Don’t Let Your Schedule Get Away From You WEBINAR, 11am - 1pm

19WNCMY22B

Your Desk

5/24

Avoid Failures: Succeed Through Experimentation WEBINAR, 8:30am - 10:30am

19WNCMY24A

Your Desk

5/30

Motivating the Right Way - Get the Most From Your Staff! WEBINAR, 8:30am - 10:30am

19WNCMY30A

Your Desk

Computer Software & Applications 4/18

Excel - Best Practices Before Final Save WEBINAR, 11am - 1pm

19WNCAP18A

Your Desk

4/23

QuickBooks – Best Practices for Accountants WEBINAR, 8am - 10am

19WNCAP23A

Your Desk

5/2

Excel - Working with Text, Date & Time Functions & Formulas WEBINAR, 12pm - 2pm

19WNCMY02A

Your Desk

5/7

Excel - Building Powerful Lookup & Reference Formulas WEBINAR, 9am - 11am

19WNCMY07A

Your Desk

5/8

Excel - Advanced Financial and Statistical Calculations WEBINAR, 7am - 9am

19WNCMY08A

Your Desk

5/11

Introduction to Data Analytics and Microsoft PowerBI Tools WEBINAR, 7am - 9am

19WNCMY11A

Your Desk

5/16

Microsoft PowerBI - Introduction to Data Analysis in Excel WEBINAR, 12pm - 2pm

19WNCMY16B

Your Desk

5/23

Analyze Your Business Operations Data With PowerBI WEBINAR, 11am - 1pm

19WNCMY23B

Your Desk

4/17

Balance Sheet Management: The Least Understood Risk WEBINAR, 9am - 11am

19WNCAP17A

Your Desk

4/19

Cost of Capital: What is It and How to Use it Every Day WEBINAR, 9am - 11am

19WNCAP19A

Your Desk

4/24

Bitcoin - What You Should Know About This Digital Currency WEBINAR, 12:30pm - 2:30pm

19WNCAP24A

Your Desk

5/9

Cash Conversion Cycle: Tools and Techniques WEBINAR, 8:30am - 10:30am

19WNCMY09A

Your Desk

5/16

Debt or Equity: Which Will Your Organization Need Next? WEBINAR, 8am - 10am

19WNCMY16A

Your Desk

Finance

The WashingtonCPA Spring 2019

Networking event | C CFP

www.wscpa.org

CONFERENCES

2019 Conferences Great topics. Phenomenal speakers. Opportunities too amazing for you to miss! Governmental Accounting & Auditing Conference

April 30 - May 1 May 21

Washington State Tax Conference

May 22

International Tax Conference

June 13

Womenâ&#x20AC;&#x2122;s Leadership Summit

August 2

Bottles, Brews & Buds Conference

August 8

Farm Tax Conference

October 29-30

Pacific Tax Institute

November 12

Construction Industry Conference

November 19-20

Not-for-Profit & Health Care Conference

December 17

Fraud Conference

webcast available

www.wscpa.org

The WashingtonCPA Spring 2019

EDUCATION AND EVENTS CPE Credits

Date

Course

Type

WSCPA Member Fee

NonMember Fee

AICPA Member Discount

Location

Information Technology 5/10

Guide to Cyber Security Planning WEBINAR, 12pm - 2pm

19WNCMY10B

Your Desk

5/11

Leverage Big Data & Data Analytics to Make Better Decisions WEBINAR, 9am - 11am

19WNCMY11B

Your Desk

Management Services 5/17

How Technology is Impacting the Accounting Profession WEBINAR, 12:30pm - 2:30pm

19WNCMY17B

Your Desk

5/21

Next Step Blockchain: Regulations & Trends CPAs Need to Know WEBINAR, 12pm - 2pm

19WNCMY21B

Your Desk

4/22

Enterprise Risk Management for Small and Medium-sized Businesses: Current Perspectives WEBCAST, 10am - 2pm

19WBAAP22A

129

159

Your Desk

5/20

Enterprise Risk Management for Small and Medium-sized Businesses: Current Perspectives WEBCAST, 7am - 11am

19WBAMY20A

129

159

Your Desk

5/20

Strategic Planning For Small and Medium-Sized Businesses: Moving from Ideas to Action WEBCAST, 11am - 3pm

19WBAMY20B

129

159

Your Desk

Personal Development 4/19



Member Exclusive: Use Humor and Fun to Shape Positive Behaviors and Create Engagement WEBINAR, 12pm - 12:50pm

19LLAP18

Your Desk

4/23



Shortcuts to Success and Happiness: The 14 Best Tools for Personal and Professional Development WEBCAST, 7am - 3pm

19WBAAP23A

145

195

Your Desk

5/1



Breaking Free of the CPA Box WEBINAR, 1:30pm - 3:30pm

19WNCMY01A

Your Desk

5/10



Triple Your Memory, Prevent Dementia and Halve Your Stress Part I WEBCAST, 11am - 3pm

19WBAMY10A

129

159

Your Desk

5/14



Achieving Balance in Work and Life Part I WEBCAST, 7am - 11am

19WBAMY14A

129

159

Your Desk

5/14



Achieving Balance in Work and Life Part II WEBCAST, 10am - 2pm

19WBAMY14B

129

159

Your Desk

6/13

L  

Women's Leadership Summit 2019, 8am - 5pm

20WLS

330

440

Bellevue

Washington Ethics and New Developments 2019 WEBCAST, 8am - 12pm

19WBAAP19A

164

194

Your Desk

Professional Conduct & Ethics – AICPA and Washington Board CPA Regulatory Update – 2019, 8am - 11:30am

20ETJRJN11

189

239

Bellevue

Regulatory Ethics 4/19

6/11

Specialized Knowledge 5/9

Data Breaches & Other Cyber Frauds: A 21st Century Risk to Your Organization WEBCAST, 10am - 2pm

19WBBMY09A

179

229

Your Desk

5/15

AICPA Peer Review Must-Select Industry Update: Brokers and Dealers in Securities WEBCAST, 11am - 12pm

19WBBMY15A

Your Desk

5/21

The Cannabis Industry: Lessons Learned from Colorado WEBINAR, 8am - 10am

19WNCMY21A

Your Desk

5/28

The Cannabis Industry: Business and Intellectual Appraisal WEBINAR, 1pm - 3pm

19WNCMY28B

Your Desk

5/31

Prix Fixe: Washington Legislative Update WEBINAR, 12pm - 12:50pm

19LLMY31

29.99

49.99

Your Desk

6/5

WSCPA Annual Meeting 2019, 3pm - 6pm

20AM

Woodinville

Taxes 4/19

Washington Sales Tax and New Developments WEBCAST, 8am - 12pm

19WBAAP19B

129

159

Your Desk

4/25

Capitalization, Expensing and Depreciation Update WEBINAR, 10am - 12pm

19WNCAP25A

Your Desk

5/2

Prix Fixe: Waypocalypse Now: Wayfair One Year Later WEBINAR, 12pm - 12:50pm

19LLAP26

29.99

49.99

Your Desk

5/3

Expensing and Depreciating Business Assets WEBINAR, 11am - 1pm

19WNCMY03B

Your Desk

The WashingtonCPA Spring 2019

Networking event | C CFP

www.wscpa.org

CPE Credits

EDUCATION AND EVENTS WSCPA Member Fee

NonMember Fee

19LLMY03

29.99

49.99

Your Desk

Federal Tax Update with the Skagit Bar Association, 5pm - 7pm

19CHBLMY06

Mount Vernon

Course

Code

Prix Fixe: International Taxation WEBINAR, 12pm - 12:50pm

Type

AICPA Member Discount

Location

Taxes

5/3

5/6

Nonprofit Taxation: Understanding the New Rules WEBINAR, 9:30am - 11:30am

19WNCMY06A

Your Desk

5/7

Capitalized Costs and Depreciation WEBCAST, 7am - 1pm

19WBBMY07A

159

199

Your Desk

5/7

International Tax Compliance – Overview of Important Changes WEBCAST, 9am - 11am

19WBAMY07A

109

Your Desk

5/13

Section 199A A to Z – A Comprehensive Approach to the Biggest Tax Break in Decades, WEBCAST 8am - 4pm

19WWGGS199

300

400

Your Desk

5/13

Section 199A A to Z – A Comprehensive Approach to the Biggest Tax Break in Decades, 8am - 4pm

19GGS199

310

410

Bellevue

5/21



Washington State Tax Conference 2019 WEBCAST, 8am - 5pm

19WWWSTC

305

405

Your Desk

5/21

L 

Washington State Tax Conference 2019, 8am - 5pm

19WSTC

315

415

Bothell

5/22



International Tax Conference 2019 WEBCAST, 8am - 5pm

19WWINTC

305

405

Your Desk

5/22

L 

International Tax Conference 2019, 8am - 5pm

19INTC

315

415

Bothell

5/22

Reasonable Compensation for Management, Tax and Appraisal WEBINAR, 10:30am - 12:30pm

19WNCMY22A

Your Desk

5/22

Tax Planning for Small Businesses WEBCAST, 10am - 2pm

19WBBMY21A

179

229

Your Desk

5/22

The Complete Guide to Washington Death Taxation WEBCAST, 8am - 4pm

19WWWADTMY

295

395

Your Desk

5/22

The Complete Guide to Washington Death Taxation, 8am - 4pm

19WADTMY22

305

405

Bellevue

5/23

Expensing and Depreciating Business Assets WEBINAR, 8am - 10am

19WNCMY23A

Your Desk

5/23

The Best Estate and Financial Planning Topics of 2018 WEBCAST, 8am - 4pm

19WWBESTMY

295

395

Your Desk

5/23

The Best Estate and Financial Planning Topics of 2018, 8am - 4pm

19BESTMY

305

405

Bellevue

5/24

The Complete Guide to Estate Administrations WEBCAST, 8am - 4pm

19WWCGEAMY

295

395

Your Desk

5/24

The Complete Guide to Estate Administrations, 8am - 4pm

19CGEAMY

305

405

Bellevue

5/29

Capitalization and Tax Depreciation: Review and Update WEBINAR, 2pm - 4pm

19WNCMY29B

Your Desk

6/28

Prix Fixe: Federal Tax Review - What's Coming Up? WEBINAR, 12pm - 12:50pm

20WPFJN28

29.99

49.99

Your Desk

7/19

Prix Fixe: Agriculture Tax Update WEBINAR, 12pm - 12:50pm

20WPFJL12

29.99

49.99

Your Desk

7/23

Securing a Comfortable Retirement in the Age of Spending WEBCAST, 8am - 4pm

20WWSCRTJL

300

400

Your Desk

7/23

Securing a Comfortable Retirement in the Age of Spending, 8am - 4pm

20SCRTJL23

310

410

Bellevue

7/24

Social Security and Medicare: Planning for You and Your Clients WEBCAST, 8am - 4pm

20WWSSRBJL

300

400

Your Desk

7/24

Social Security and Medicare: Planning for You and Your Clients, 8am - 4pm

20SSRBJL24

310

410

Bellevue

8/8

L 

Farm Tax Conference 2019, 8am - 5pm

20FARM

310

410

Kennewick

7/25

Surgent's Annual Tax-Planning Guide for S Corporations, Partnerships, and LLC's WEBCAST, 8am - 4pm

20WWTPGSJL

300

400

Your Desk

7/25

Surgent's Annual Tax-Planning Guide for S Corporations, Partnerships, and LLC's, 8am - 4pm

20TPGSJL25

310

410

Bellevue

L l

www.wscpa.org

Networking event | C CFP

The WashingtonCPA Spring 2019

CLASSIFIED ADS Detailed advertising information is available online at www.wscpa.org under More. Ads are $1 per word, with a $50 minimum fee, pre-paid. Active email and web addresses are included. Ads are placed on the website for 60 days when received and in the next magazine when received by the deadline, Jun 1 for the Summer 2019 issue. Post a job listing at www.wscpa.org under Job Board. Use the Miscellaneous category for rental or vacation property. Contact Janet White at 425.586.1126 or memberservices@wscpa.org for more info.

MERGERS & SALES 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 Unique Pacific Northwest Tax & Accounting Practice Private Practice Transitions is assisting a client in Oregon with the sale of a highly unique, private tax and accounting practice. This Practice caters specifically to the owners of cannabis businesses in Oregon with potential to service parts of Washington and California. The cannabis industry is regarded by many to be the fastest growing industry in the USA and is expected to remain so for many years into the future. The current service breakdown by revenue is approximately 67% Accounting, 16% Consulting, and 16% Tax Preparation. With 2018 gross revenues just under $200,000 this is a great opportunity for an existing firm to add this unique service offering in an expanding marketplace, or for a solo accountant looking to start his/her own

(WA 1126) Island County: This well-established enrolled agent practice is for sale. The firm is well balanced with a tax practice that produces 75% of revenue and a write-up practice that generates the balance. 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. The Seller, to assist in the sale, will consider financing the purchase of the practice provided the Buyer makes a substantial down payment and has excellent credit and collateral. (WA 1127) Vancouver: This CPA practice that focuses on the preparation of income tax returns is for sale. The firm’s revenue stream is almost all from the preparation of income tax returns with the exact percentage equaling 90%. The balance of the annual fees are earned from write up and payroll services which are approx. 10% of revenues. Reflecting a service commitment,

The WashingtonCPA Spring 2019

practice with an established book of business. The Practice’s website receives a lot of traffic averaging over 500 hits per month. Email “Unique Pacific Northwest Tax & Accounting Practice” to info@ privatepracticetransitions.com or call253.509.9224. Lucrative Eastside Tax & Accounting Practice Private Practice Transitions is assisting a client, located on the Eastside, with the sale of a busy tax and accounting firm. The practice and founding shareholder have operated from this location for over 37 years and the shareholders desire to sell the business as a turnkey operation. The firm files more than 700 tax returns each year for both businesses and individuals. While Tax preparation accounts for about 65% of the firm’s business, 32% comes from Bookkeeping and Accounting, and Compilation and Review work. The remaining 3% comes from Consulting Services. The firm is centrally located in a well-established, thriving market, and poised for explosive growth. The firm employs great long-term staff to support the shareholders in a fully furnished office. With 2018 gross revenues over $800,000, you don’t want to miss out on this amazing opportunity. Email “Lucrative Eastside CPA Practice” to info@privatepracticetransitions.com or call 253.509.9224. Thriving Portland-Based Tax & Accounting Practice Private Practice Transitions is assisting a client in the Portland area with the sale of a turn-key, private tax and accounting practice. The service breakdown by revenue is approximately 75% Business & PersonalTax Services, 8% IRS/ODR Representation, 10% Tax Planning & Consultation, and 7% Other. With 2017 gross revenues of approximately $709,000, 8.8% year-over-year growth as compared to 2016, and 2018 YTD billing numbers that are up 11% from the same period in 2017, you don't want to miss out on this exciting opportunity. Email "Thriving Portland-Based Tax & Accounting Practice" to info@privatepracticetransitions.com or call 253.509.9224. Established Pierce County Tax & Accounting Practice Private Practice Transitions is assisting

a client in Pierce County, WA with the sale of a profitable, turn-key, private tax and accounting practice. The service breakdown by revenue is approximately 57% PersonalTax Services, 32% Business Tax Services, 7% U.S. Tax Services, 3% Trusts & Estates, and 1% Other. The Practice is located in a ~1,900 square foot office building that is also available for sale, if desired. With consistent yearover-year gross revenues around $600,000, you don't want to miss out on this fantastic opportunity. Email "Established Pierce County Tax & Accounting Practice" to info@privatepracticetransitions.com or call 253.509.9224. Turn-Key Pierce County Tax & Accounting Practice Private Practice Transitions is assisting a client, located in Pierce County, with the sale of a busy tax and accounting practice. The firm’s historical breakdown by revenue is 63% Tax Prep and 37% Bookkeeping. The firm has over 600 active clients and a staff of four (one owner, two full-time employees, and one part-time employee). The firm is located in a 1,828 square foot office that is also available for sale, if desired. With annual gross revenues just under $300,000 (2017-2018), you don’t want to miss out on this great opportunity. Email “Turn-Key Pierce County Tax & Accounting Practice” to info@privatepracticetransitions.com or call 253.509.9224. Established CentralWashingtonTax &Accounting Practice Private Practice Transitions is assisting a client, located in North Central Washington, with the sale of a highly reputable tax and accounting firm. The practice was established in 2003 and currently has over 400 active clients. While Tax preparation accounts for about 65% of the firm’s business, 35% comes from Bookkeeping and Accounting. The owner desires to sell the Practice as a turn-key operation, and the office that the Practice occupies is also available for sale, if desired. Email “Established Central Washington Tax & Accounting Practice” to info@privatepracticetransitions.com or call 253.509.9224.

the Seattle marketplace. With the clientswhether existing or new sharing similar employers, the commonality of tax issues makes for reasonably complex returns allowing a degree of specialization in these issues on an annual basis. As a result, the returns have an excellent average fee and an excellent net cash flow to owners equaling 83% of gross fees. This firm presents a number of opportunities for a practitioner to acquire a practice to add to an existing or new firm with a very profitable addition to the bottom line.

SOLD

the Seller is a very hands on in assisting clients in conducting their business affairs to minimize their tax burdens. The bulk of these clients are small business clients who require these services and consist of professionals of all types. With the elements of trust and accountability of the owner, this firm is a very solid practice with clients that return year afteryear. All this in a firm with an excellent cash flow and a great opportunity for a variety of buyers. (WA 1128) Seattle: This EA practice for sale is a tax practice as 100% of all revenues are generated from the preparation of income tax returns. The firm benefits from a very strong referral network of technology based employees from these employers in

(WA 1129) Burien, Kent, Federal Way Area: This CPApractice has a nice balance of income tax and write up work on an annual basis. Tax services provide 65% of revenues with write up equaling 35% on an annual basis. The fees in the write up area are excellent and provide a solid contribution to the bottom line. The tax services offer the immediate opportunity to increase the realization rate by streamlining these processes. All of these attributes provide an excellent opportunity for a variety of practitioners looking to acquire an excellent practice.

www.wscpa.org

CLASSIFIED ADS

Crossword Puzzle ACROSS 1. Accessory fruit of a rose 8. Deal maker 13. Put on board an aircraft 14. Hopeless case 15. Baffled 16. Combination of reggae and rap 17. "Bingo!" 18. Level, in London 20. Interval 21. A trifle 24. Absorbed, as a cost 25. Defective 26. Told a tall tale 28. Drive 31. Villain 32. Sketch 34. Layer 35. ___ and outs 36. Space reserved for musicians 41. Legendary Giant 42. Pink, as a steak 43. Hi-___ 44. Broken 46. To violate 49. Cockamamie 50. North African country 51. Crafter of rattan chairs 52. Vector graphics printer

www.wscpa.org

DOWN 1. Post-op time 2. City on the Missouri 3. Simple brake on a vehicle 4. Antiquity, once 5. Accident 6. Accustomed 7. Flower feature 8. Suitable 9. ___ few rounds 10. Part of United Kingdom 11. Nullified 12. Play with an unhappy ending 19. Devious 22. Out for the night 23. Mandate 27. Beams 28. Nutty 29. Treasure State 30. Carrier 33. Baseball stat 34. Carbolic acid 37. Hamper 38. Plot of land 39. Military scouting 40. Fur capitalist 45. Opposite of WSW 47. Not to 48. Decay

16 18

17 21

24 26

27 31

25 28

38 43

For the answers to this issue’s crossword, don’t forget to check out the WSCPA blog! There you’ll find articles and other free, useful resources to help you solve the constantly changing puzzle of accounting.

www.wscpa.org/news The WashingtonCPA Spring 2019

Do you have what it takes to go up against the greats? Test your accounting acumen and WSCPA knowledge during an interactive game show featuring renowned speakers Mark Hugh and Tom Neill. Winners receive prizes and bragging rights over the toughest minds in the profession.

2019 ANNUAL MEETING June 5, 2019 | Columbia Winery Register Now! www.wscpa.org/am2019

The WashingtonCPA Spring 2019

www.wscpa.org

MEMBER PROFILE

How CPAs Impact Local Government: Vicky Dalton By Cory Wilmarth Vicky Dalton, CPA, serves as Spokane County Auditor and is a fierce advocate for CPAs in government. She originally hails from Priest River, Idaho, 60 miles from her home in Spokane Valley. She earned her CPA upon graduation from Idaho State University and has since gone on to make great strides expanding the role CPAs play in Spokane County. Growing up in north Idaho, Vicky helped her family hunt, grow crops, and raise livestock. “It taught me about responsibility and the consequences of action or inaction. If you want something, you need to figure out how to get it done. Don’t expect it to come to you,” said Vicky. Now, Vicky enjoys more relaxing hobbies. “I’m mostly into things like knitting and weaving, anything to do with yarn.” Vicky demonstrated her leadership and accounting skills in high school when a teacher failed to effectively teach bookkeeping to her class. She stepped up and taught the subject to her classmates herself. “That’s when I realized this was something I was good at and really enjoyed. It was just meant to be,” said Vicky. In her current role as Spokane County Auditor, Vicky oversees four separate divisions: financial services, elections, motor vehicle licensing, and records. One important subsection of records is marriage licenses. This is how Vicky experienced one of the proudest moments of her professional life. On December 6, 2012, Washington officially legalized same-sex marriage. “It was amazing to experience the sheer joy of people who wanted to spend the rest of their lives together. We opened the doors and saw people, who never even had the opportunity to express their feelings in public before, walk in and obtain a license to be married.” www.wscpa.org

That is what Vicky values most about her work, the ability to impact other people’s lives. “Every day, my work is going to touch a considerable number of people. Whether through elections, recording a deed for someone buying a house, or issuing a marriage license, we do so many things that impact this community.” Vicky is also passionate about involving CPAs in the governmental process. According to Vicky, CPAs are valuable because “they are detailoriented, but also understand the larger picture and how everything comes together. We need those traits in the governance process.” CPAs can participate in two ways: 1. As a private citizen. “We need citizens looking at issues like money spent on criminal justice, elections, or any other service that government provides,” said Vicky. “Citizens can attend neighborhood meetings and have meaningful discussions with their neighbors and elected officials.” 2. As a civil servant. CPAs can fill many roles as elected officials, CFOs, department heads, and technical or administrative professionals. “You can provide support to officials to help them make good decisions. Decisions need to be based on credible data. That’s one of many things that CPAs bring to the table.” One of Vicky’s major projects is succession planning for the next generation of leaders in Spokane County. Within the last three years, she created new positions within her office and worked with leaders in the county to bring in people who have the right skills and attitude for the jobs. A chief deputy position Vicky established hired a CPA she knew from the state auditor’s office. This

“We don’t really need politics in local government. We need good decision-making skills.” CPA worked with Vicky for two and a half years. She is now an elected official, commissioner to the Board of County Commissioners. This creates another opportunity for a CPA to take over as chief deputy. Vicky is optimistic about the future of Spokane County and will continue to do her part to help it grow and thrive. She encourages CPAs to consider involving themselves in their own local governments, bringing their much-needed gifts to the process. Said Vicky, “We really don’t need politics in local government. We need good decision-making skills.” Cory Wilmarth is the Communication, Design, and Social Media Coordinator for the WSCPA. To nominate a member for the next profile, you can contact him at cwilmarth@ wscpa.org. The WashingtonCPA Spring 2019

Periodicals postage paid at Bellevue WA and additional mailing offices 902 140th Ave NE Bellevue WA 98005-3480

CLEAR

AREA

Some things just go together, like cedar plank salmon and a summer barbecue, or you and the WSCPA!

Your WSCPA membership is up for renewal! Renew your membership by June 1 for a chance to win one of four $300 Amazon™ gift cards. Your Member Benefits include: •

10 free member-exclusive webinars

•

$100 off 8-hour CPE courses

•

Up to 20% off networking events

•

Discounts that more than pay for your membership

•

And much, much more!

Renew your membership today!