The Washington CPA September/October 2011 by Washington Society of CPAs

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CPA September/October 2011 Volume 54, Number 2

Learning Trends

The Value of a Learning Management System Lifelong Learning: The Essential Ingredient in Career Success IRS Eliminates the High-Low Substantiation Method窶年ow What?

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Contents

wa s h i n g t o n

CPA www.wscpa.org • memberservices@wscpa.org Tel (425) 644-4800 • Toll free in WA (800) 272-8273 Fax (425) 562-8853 902 140th Ave NE Bellevue, WA 98005-3480

BOARD OF DIRECTORS Mark A. Hugh Chair Mary D. Marino Vice Chair Randy L. Wells Secretary Lucy L. Liu Treasurer James R. Ladd Immediate Past Chair Richard E. Jones President & CEO

Peter E. Doubleday Sharon K. Philpott Joyce G. Etheridge Russell D. Price Waylon P. Jones Rosemary Sanchez Karissa A. Lackey Lisa J. Sunderman Susan E. Legel David E. Trujillo Peter R. E. Miller William L. Wells David J. Miniken Glenn G. Wisegarver Nerelys M. Ortiz CHAPTER BOARD CHAIRS Waylon P. Jones Bellevue Area Joseph W. Crowther Central Joseph M. Reid Central — North Seattle Jack W. Curnow Northwest Kathryn A. Dixon Olympia — Peninsula — Pierce County Mary H. Hawkins Sammamish Valley Connie L. Griffith Seattle H. Court Carter Snohomish County Michael K. Briggs South King County John Vogel South Sound Industry Trayson J. Harmon Southwest Lucas M. Zarecor Spokane — Wenatchee Katrina L. Cantu Yakima

Jeanette Kebede

Editor

The WashingtonCPA is published by the Washington Society of Certified Public Accountants for its members. Views and opinions appearing in this publication are not necessarily endorsed by the WSCPA. The products and services advertised in The Washington CPA have not been reviewed or endorsed by the Washington Society of Certified Public Accountants, its board of directors or staff. The WashingtonCPA (USPS 009754) is published six 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.

Learning Trends 8

The Value of a Learning Management System

11 Lifelong Learning: The Essential Ingredient in Career Success 12 Expanding Your Options for CPE 12 CPE Technology Cheat Sheet 13 CPE Survival Skills: How to Get the Most Out of Your Continuing Education Experience 15 Retired CPAs...and Advocacy 17

IRS Eliminates the High-Low Substantiation Method—Now What?

20 Sound Real Estate and Facilities Decisions for Your Business 23 A Closer Look at Washington CPA Foundation Accounting Scholarships 24 The Fastest Way to Create a Chart in Excel Departments 5

Leadership Lens

Financial Literacy

News Briefs

CPE Digest

Advocacy

Conferences

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Industry Voice

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WashingtonCPA September/October 2011

Leadership lens

A Look at the Future of Our Profession By Rich Jones, CPA, President & CEO

irst, a bit of history… In the late ’90s the AICPA and the state CPA societies cooperated in bringing together CPAs from across the country to develop an unprecedented grassroots vision for the profession for the 21st century and beyond. The CPA Vision Project identified the profession’s core competencies, core values and core services. The purpose of the project was to envision the accounting profession in the year 2011. Here is the Vision Statement that resulted from the study:

CPA Horizons 2025 builds upon the foundation of the earlier Vision Project. To date, it has engaged more than 5,000 CPAs across the nation. In-person discussion forums were held this Spring in eight U.S. cities (Hartford, Pittsburgh, Dallas, Chicago, Albuquerque, Denver, San Francisco, and Miami), with two, three hour long sessions conducted in each city. Inperson and virtual focus groups were also conducted to drilldown into themes identified from other processes. The AICPA also reached out to many of the profession’s regulators (e.g. DOL, FDIC, CPAs are the trusted professionals who GAO, SEC, NASBA, PCAOB and three enable people and organizations to shape State Boards of Accountancy, including their future. Combining insight with integrity, our own State Board), asking the same CPAs deliver value by: questions that were being asked of AICPA • Communicating the total picture members. with clarity and objectivity, One difference in this project and the • Translating complex information one conducted in 1998 is the CPA Horiinto critical knowledge, zon 2025 project makes much greater • Anticipating and creating use of technology.The greatest amount of opportunities, and input came from more than 5,000 AICPA • Designing pathways that transform members who provided their comments vision into reality. through an online survey. In fact, more than 70,000 comments were received And the Core Purpose statement about through this process. Sophisticated survey CPAs was: analysis tools were then used to identify the key findings and themes from these CPAs…making sense of a changing comments and survey responses. and complex world At the beginning of the project, Paul Stahlin (who also served on the task These statements are obviously very force that conducted the prior vision brief, which is generally a goal of this type study) created an Advisory Panel of 22 of exercise. However, the amount of input AICPA members to help with the design and analysis that supports these conclu- of the study and to assist with the develsions is very significant. opment of the final report of the study. Since we have now arrived at the Bob Bunting and I are privileged to serve target date of 2011, it is appropriate to on this advisory panel. The panel includes review the vision created 13 years ago CPAs in industry, public accounting, conand again take an educated look at how sulting, education, government, nonprofit we believe the CPA profession will look organizations, two prior Chairs of the in, say, another 14 years. That is exactly AICPA and two CEOs of state CPA what the AICPA is doing in its CPA Hori- societies. The demographics of the panel zons 2025 project, an initiative launched match quite closely the representation of in March 2011 and led by Paul Stahlin, each of these groups in the overall memcurrent Chair of AICPA. bership of the AICPA. The role of the

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Advisory Panel is to: • Synthesize the data collected; • Help isolate important themes and categories and their importance to different member segments; and • Assist in the development of the final report. The Advisory Panel met in Chicago in July to review, discuss, and drill-down on initial research findings in the following areas: education, technology, economy, globalization, CPA services, demographics, regulations and standards, and reputation. We also reviewed and revalidated or updated the Core Values, Core Services, and Core Competencies of CPAs as identified in the prior visioning project. Here is the timeline for the conclusion of this study:

CPA Horizons 2025 July-August 2011

Preliminary report drafted and presented to AICPA Board of Directors

September 2011

Final report drafted

October 2011

Presentation of final report to AICPA’s Governing Council at Fall Council Meeting and recommendation for approval by the Council

I believe all CPAs will find the final report of this project to be interesting and relevant in terms of looking to the future of our profession. Watch for the final report in the Short Form e-Newsletter and on the WSCPA website. For additional information about the CPA Horizons 2025 study, visit AICPA.org. You can contact Rich Jones at rjones@ wscpa.org.

WashingtonCPA September/October 2011

Leadership lens

Taking a Tip from Iceland By Mark Hugh, CPA,WSCPA Chair for 2011-12

hile visiting Iceland last summer, I was struck by the fact that every Icelander was fluent in four languages. A waiter could converse in English, talk to the next table in German, the next table in Danish, and then yell at the cook in Icelandic. And this scene was repeated throughout my visit, whether I was in a retail store or striking up a conversation with someone at the next table. With my high school foreign language long faded, I felt ignorant when compared to the language skills of every Icelander. Why would everyone in a small self-sufficient country need to be fluent in four languages? That’s because long ago, to prosper and grow, Icelanders realized they needed to communicate in the world’s languages. Similarly, over the next few years every accountant, whether in public practice, private industry, education, or government, will need to make the same choice about accounting languages. An example is International Financial Reporting Standards, or IFRS. These are global accounting standards for listed companies. Approximately 120 nations and reporting jurisdictions permit or require IFRS. Other countries are expected to transition to IFRS soon or converge their national standards. And, those 120 nations represent a significant portion of the industrialized world. In the US, the Securities and Exchange Commission has not yet made a decision as to whether and, if so, how, to incorporate IFRS into the US reporting system. However, the decision is drifting out of their hands. As Bob Bunting noted at the WSCPA’s annual meeting, it’s not the regulators who decide, it will be the markets.

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No regulator gives up their sovereignty readily, but markets don’t care about who regulates the market. Regulators cannot stop the worldwide market and its global flow of goods, capital, and people, and the resulting consequences of those changes and the impact on reporting systems. Foreign ownership of US companies and US infrastructure continues to accelerate. It’s currently at 22% with some estimates of greater than 50% foreign ownership of all US companies coming within 20 years. And the owners of companies, those users of information, already expect, and will continue to want, their information in a common accounting language they can readily understand. Therefore, every accountant needs to be prepared to be at least bilingual in accounting languages. If not, their world will become smaller and their skills dated, making them uncompetitive in the economy. New US CPAs don’t have a choice, as starting this year the CPA Exam now includes questions on IFRS. It’s not limited to financial statements. The choice includes every element of accounting, finance, and management, including indirect taxes such as the VAT, banking relationships, and human resources. Another example is that the American Institute of Certified Public Accountants, the AICPA, is offering a new credential, the Chartered Global Management Accountant, CGMA.This designation for management accountants is co-sponsored with the London based Chartered Institute of Management Accountants, CIMA, the largest management accounting organization in the world with members in 168 countries.

Some misunderstand the purpose of this new credential, remembering the AICPA’s terribly misguided effort a decade ago with “Cognitor.” That’s not the case here. Not only is the AICPA offering its members in business and industry support for their careers that reflect increasing globalization, but the CGMA is part of the AICPA’s own preparation for being relevant in a global economy. Currently, the CGMA is being offered to members of the AICPA and CIMA by a new joint venture between the 360,000 member AICPA and the 183,000 member CIMA. As part of the joint venture agreement, every two years the organizations will engage in merger discussions. A merger would create a powerful worldwide advocacy organization, which could offer its members global resources and have influence in every country. If there is any doubt about the AICPA’s strategy, the name of the joint venture is the Association of International Certified Professional Accountants. The acronym? AICPA. In Iceland, I bought one of my sons a shirt that said “Ég hef ekki hugmynd um hvað stendur á þessum bol,” which translates as “I have no idea what is written on this t-shirt.” Over the next few years, all of us will need to make choices to become bilingual in accounting to stay relevant in a global world. Or like the t-shirt, we will have no idea of how to translate information and will not be competitive in the economy.

You can contact Mark mark@markhugh.com.

Hugh

WashingtonCPA September/October 2011

cover story

The Value of a Learning Management System By Mark Koziel, CPA

re your team members prepared to handle their current assignments as well as the future challenges you envision for them? Do you know what training and professional development they will need to work at full capacity? And are you making the most of the money your firm invests in training and education? If people are a CPA firm’s most important asset, then the knowledge and skills that they bring to the job are the foundation of any firm’s success. That fact was underscored by the findings of the 2011 PCPS CPA Firm Top Issues Survey. Although staffing problems have abated in an uncertain economy, in the survey all but the very smallest firms cited finding or retaining qualified staff as a concern. If hiring and keeping the best people is a top priority, firms will surely want to ensure that their team members are being given every opportunity to work at their highest and best level. At the same time, lean budgets require that firms get the most bang for their training budget buck. A learning management system (LMS) can help firms accomplish all of those goals. People often are competent in some parts of their jobs, but they may need help with others. How can firms determine where more education is needed? And what’s the best way to track which educational resources are already available in house? That’s where the learning management system comes in.

What Do You Do?

Let’s first look at the steps firms must take before implementing an LMS, including creating meaningful job descriptions for every professional position. Everyone has a general sense of what it means to be a staff person, a manager or a partner, but what do these people actually do? What expectations does the firm have for them? And what specific levels of knowledge or competency are they expected to have in order to achieve

People often are competent in some parts of their jobs, but they may need help with others. How can firms determine where more education is needed?

peak performance? Those are critical questions for CPA firms. To best answer them, begin with role descriptions that describe: • • • • • •

The purpose of the position; Who the position reports to; The job’s key success factors; The responsibilities; The key performance indicators; The qualifications, skills, experience and personal attributes needed to perform the job.

As an example, the CPA Firm Role Descriptions in the AICPA Private Companies Practice Section (PCPS) Human Capital Center set forth up to 20 responsibilities for each position. For associates they include not only technical skills but also “seeking to gain knowledge of client businesses” and “building strong team relationship skills.” Expectations for managers include “building strong coaching skills” and “managing the assignment budget and profitability.” Critical success factors for seniors include project management skills and coordinating a team, while managers are also expected to

WashingtonCPA September/October 2011

have business acumen and deeper client relationship skills. Once it’s clear what someone in a specific position should accomplish, it’s easier to map out the kinds of training that will develop and enhance the skills they need.

Getting a Perspective

A competency model takes those job descriptions and puts them into context for the entire firm. It describes the core competencies—knowledge, skills and attributes—required for each position. The PCPS Firm Competency Model identifies five areas in which core competencies are needed: • • • • •

Technical ability/business knowledge; Client service; Productivity; Business development; People development and teamwork.

Building off the information in the job descriptions, it’s then possible to list the competencies needed for various firm positions. For practical purposes, www.wscpa.org

cover story

the PCPS model consists of one grid for each competency with columns listing the attributes needed for associate, senior, manager, senior manager/director and partner. This graphic presentation clarifies the pathways that firm members take as they move up and offers a perspective on the training they may need to improve in their current job or rise to the next level.

Moving Up the Learning Ladder

Firm members can use the competency model to pinpoint strengths and weaknesses using a combination of realistic self evaluation and input from supervisors and others. Enhancement to existing competencies can be achieved through in-house training, formal education, mentoring or another approach. With a better sense of training needs, it’s time to turn to a learning ladder, a robustly detailed chart that sets forth precisely the skills needed and how the firm member can get them. Exhibit 1 shows a sample section adapted from the AICPA Learning Ladder showing the courses and resources recommended to provide a foundation in attestation subjects. This is just one small piece of the ladder. In fact, under technical knowledge, the AICPA’s full ladder covers topics including: • • • • • • •

General attestation; Employee benefit plan specialization; Forensic accounting; Government accounting; Not-for-profits; Private companies; and Taxation.

Another section of the ladder covers people development and teamwork. Each area recommends courses for levels from associate to senior manager/director/ partner, and makes suggestions for the www.wscpa.org

Exhibit 1 Getting Started This sample learning ladder for an associate sets out the courses needed in auditing and accounting and helps firm track what’s available. General Associate 1

Hours needed

Vendor options

Delivery formats available

Accomplished?

Associate Training - Basic Auditing Current Liabilities Auditing Property and Equipment Auditing Long-Term Debt & Equity Accounts and Income Statement Accounts Auditing Accounts Receivable Auditing Cash Auditing Inventory FASB/APB Update and Review Income Statement Presentation: Separate Line Item Reporting Requirements Cash Flow Statement: Basic Presentation Requirements Accounting for Income Taxes Accounting for Research and Development Activities and for Computer Software Other Liabilities Issues: Convertible Debt, Unrealistic Interest Rate and Compensated Absences Accounting for Certain Investments in Debt and Equity Securities - SFAS No. 115 Income Statement Presentation: EPS, Comprehensive Income and Interim Reporting Cash Flow Statement: Industry Issues, Illustration, Financial Statement Analysis and Application Long-Lived Assets: Impairment, Interest Capitalization, and Nonmonetary Exchanges Post-Retirement and Post-Employment Benefits Pension Plans and Related Benefits Contingencies and Other Uncertainties Accounting for Debt Accounting for Leases: Personal Property, Real Estate and Operating Leases Accounting for Leases: Sale-Leaseback Transactions, Subleases and Lessee/Lessor Disclosures Segment Disclosure

WashingtonCPA September/October 2011

cover story

An LMS makes it possible to track the initial and continuing education of firm members and enhance your investment in education.

firm library. Firms can use the AICPA Learning Ladder as a template for their own curriculum planning.

Putting It into Practice

A learning management system is the last step in the process. To understand how it works, we’ll follow Alice, a staff member at a mid-size firm. Alice has shown great talent in her work on audits, fulfilling the requirements in her job description and demonstrating the necessary core competencies. Using the learning ladder, she has taken the training she needs to reinforce her skills, but she is ready to move on to the next level. She is on the verge of becoming a senior and her supervisor thinks it’s time to begin training in a niche area. They decide on a specialization in employee benefit plans and use the learning ladder to select the courses and resources she needs (see Exhibit 2).With that training under her belt, Alice can now further her education by working with firm experts and getting CPE as necessary. In time, she becomes a firm “expert” who can consult with others knowledgeable in the area and take part in training those who need an introduction to it. An LMS makes it possible to track the initial and continuing education of firm members like Alice and enhance your investment in education. Firm leaders sometimes question the value of training younger people who may leave the practice within a few years, taking their knowledge with them. We recommend packaging the training people receive in ways that can benefit others. So, when Alice begins her benefit plan courses, her supervisor asks her to create a presentation summarizing what she learns. Depending on the staff member’s presentation skills, either she or the supervisor can give the presentation to other firm members. The presentation could also be added to the firm archives for future use as needed. The presentation and Alice’s knowledge would also be noted in the firm’s learning management system, expanding training resources

Exhibit 2 Moving to the Next Level This is a sample section of a learning ladder for a senior who is ready to specialize. Senior 1

Hours needed

Vendor options

Delivery formats available

Accomplished?

Employee Benefit Plans: Audit and Accounting Essentials—Senior 1 Employee Benefit Plans: Other Audit Issues and Wrapping Up the Audit Employee Benefit Plans: Employee Stock Ownership Plan (ESOPs) Audit Issues Employee Benefit Plans: Accounting and Reporting Standards and Recent Developments Employee Benefit Plans: Defined Benefit Pension Plan Employee Benefit Plans: Health and Welfare Plan Employee Benefit Plans: 401(k) and Other Defined Contribution Plan (Except ESOPs) Audit Issues Employee Benefit Plans: Audit Planning Employee Benefit Plans: Reporting and Audit Requirements Employee Benefit Plans: The Basics Employee Benefit Plans: Audit and Accounting Risk Update and Alert 2006-2007 EBP Risk Alert: Accounting and Related Developments 2006-2007 EBP Risk Alert: Audit Developments 2006-2007 EBP Risk Alert: Industry and Economic Developments 2006-2007 EBP Risk Alert: Regulatory and Legislative Developments

and allowing the firm to better leverage its investment.

Well Worth the Effort

The steps recommended in this article can help firms track the tremendous store of experience and expertise they have in house. There are many robust learning management systems on the market, some targeted to general business, and some dedicated to the CPA profession. The AICPA now has its own LMS and has incorporated the learning ladders, job

WashingtonCPA September/October 2011

responsibilities and competencies I referenced in this article. You can view the AICPA Learning Management Solution at www.cpa2biz. com (click on Online Learning), or go toxwww.cpa2biz.com/AST/AICPA_ C PA 2 B I Z _ B r o w s e / S t o r e / O n l i n e Subscriptions.jsp. Mark Koziel, CPA, is Vice President – Firm Services & Global Alliances at the American Institute of CPAs. You can contact him at mkoziel@aicpa.org. www.wscpa.org

cover story

Lifelong Learning: The Essential Ingredient in Career Success The world is changing, your career path will change with it. By Rick Telberg

f you’re just starting your CPA career and you’re not sure which specialty path to take, don’t fret. Many experienced CPAs are confounded by the same question. Based on CPA Trendlines research by Bay Street Group LLC, practitioners from all parts of the profession note that selecting a niche is among the more befuddling issues facing newly minted accountants. But making the right choice is not of paramount importance to success. A commitment to lifelong learning is. “There are so many areas to branch out into. It’s much more than a choice between public and private,” Grace Ghezzi, a CPA and senior executive with a consulting firm in Syracuse, N.Y., told us in the course of our research. Selecting the right niche is part of what a vast majority of CPAs see as a need to be committed to lifelong learning. In our ongoing study, we’re asking practitioners to name the most important ingredients to a successful CPA career. Lifelong learning consistently ranks with people skills and integrity. “Just because you have a college degree does not mean you are prepared for the many varied engagements that are dealt with by a CPA everyday,” said Michele Heyman, CPA, CVA, CFE, then a senior manager at a public firm in Austin, Texas. “This profession requires lifelong learning that begins the day you graduate from college.” Lifelong learning emerges as particularly important for CPAs in public www.wscpa.org

Selecting the right niche is part of what a vast majority of CPAs see as a need to be committed to lifelong learning. practice. And it’s a key indicator of the more successful firms, according to our study. In addition, partners are more likely than staffers to see the importance of lifelong learning. One small public firm managing partner noted, “today the expected technical knowledge level and the standard that CPAs are held to require most of us to pick one or a few areas to specialize in and just sort of keep a working knowledge of other areas.” Charles Perkins, a senior staffer in business and industry who also runs his own public practice in Burien, Washington, added, “CPAs, just like firms, need to stand out. Specialize and become knowledgeable in one specific area and you are likely to become more valuable and better compensated.”

But finding that niche, much like selecting a college major, can be daunting. Mark Kolman, a government sector senior staffer in Tampa, Florida, advised new CPAs to “try out different specialties within the profession (like tax, auditing or consulting) to find out which ones you like the most and which ones you absolutely hate.” One public practice mid-level staffer on the job for fewer than three years advises younger CPAs,“Don’t believe you’re done learning once school’s over -- every day is a new learning experience.” Dennis Fogarty, a mid-level staffer in business and industry in Columbus, Ohio, told us, “Get as wide a variety of work experiences as you possibly can. This will enable you to determine what your real ‘niche’ is.” In addition to gaining work experience, Kelly Katerakis, a senior staffer at a large public firm in Dublin, Ohio, advises fellow CPAs to “talk to as many people as you possibly can” to find your niche and then “learn as much as you can, both from a practical and technical standpoint.” “Never stop learning,” says Ignacio Fortuno, a senior staffer at a large firm in Raleigh, N.C. Now, that’s good advice we can all learn from. Rick Telberg is editor and publisher of http://cpatrendlines.com, the outlet for actionable intelligence from Bay Street Group LLC, serving the decision-making needs of tax, accounting and finance professionals. Contact him at rickt@cpatrendlines.com. Copyright 2007-2011 Bay Street Group LLC

WashingtonCPA September/October 2011

cover story

Expanding Your Options for CPE The choice is yours!

Seminars

Fall 2011

hether you prefer to take CPE in a classroom or convention center, from your desk or living room, the Washington Society of CPAs offers a CPE delivery format that meets your needs. Review the options listed here and contact the Society if you need assistance determining which option is right for you.

• • •

Webcasts

WSCPA offers 12,000 hours of live CPE seminars each year. Choose from hundreds of live programs held statewide. WSCPA members save $75 per 8-hour CPE seminar. Earn Í to Ñ CPE credits for each seminar. Includes catered lunches and time to network with other attendees.

• Watch real-time streaming video of the instructor. View the instructor’s presentation slides and submit your questions with online chat. • Earn Ë, Ì, Í or Ñ CPE credits. • Choose from hundreds of webcasts on a wide range of topics, including A&A, management or tax.

Conferences

Self study

Explore emerging trends and strategies for niche accounting areas with WSCPA conferences. Earn Ñ, 16 or 20 credits.

WSCPA members save on self study...

•

• WA Pros - Save on annual subscriptions, starting at $189 (+tax) for dozens of streaming video or text-based CPE courses (Ê to Î credits each).

•

• Self study from vendors such as Thomson Reuters, Surgent McCoy and more!

•

Oct 21 Nov 7-9 Nov 10-11 Nov 17-18 Dec 2 Dec 12-13

Accounting and Auditing Conference Pacific Tax Institute Pacific NW Construction Industry Conference Not-For-Profit Conference Fraud Conference Information Technology Conference

What is that? Webcast A WSCPA webcast is a media presentation distributed over the internet with a live instructor available for questions and answers during the presentation. CPE credit is available (2, 3, 4, or 8 hours).

New! Evening and Saturday webcasts!

Webinars If you are ready to try online learning, start with a webinar. Listen to real-time live instruction via your computer, view presentation slides, and ask your questions via online chat. Earn Ê or Ë CPE credits for each WSCPA webinar.

CPE Technology Cheat Sheet

Webcast Replay This is a replay of a live WSCPA webcast that occurred earlier. You are able to view the entire webcast, and time is available to ask questions of the instructor, who is standing by to respond to questions. CPE credit is available.

WashingtonCPA September/October 2011

Webinar A workshop delivered over the web. This may either be a one-way presentation or there may be an instructor available to answer questions. WSCPA webinars qualify for CPE credit.

Live Conference Webcast This is a webcast of the conference sessions. General sessions and selected concurrent sessions are included in the broadcast.View and hear the speaker and see and download presentation slides. CPE credit is available.

Online Self Study WA Pros subscriptions include streaming video or text-based CPE courses, which you can take your time to complete. Other vendors may have different formats. CPE credits are available, after you take and submit a test.

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cover story

CPE Survival Skills: How to Get the Most Out of Your Continuing Education Experience

he Washington Society of CPAs strives to make your continuing education experience the best it can be.Your needs and expectations are our number one priority, so the WSCPA seeks the best speakers and the most relevant content for the Society’s seminars, conferences, webcasts and webinars.

Here are 10 things you should consider in order to get the most out of your learning experiences with the WSCPA.

The Society also focuses on all details of your education experience, including the setting of the room to the food provided. We want you to be comfortable, happy and ready to learn. But, the Society can’t do it alone. Here is a list of 10 things you should consider in order to get the most out of your learning experiences with the WSCPA. 1. Locate the right courses for your personal and professional needs. Choose carefully and select courses that will increase your productivity and value. If you have questions about programs or study options, please do contact the WSCPA to discuss your needs and interests and a Member Services Representative will point you in the right direction. 2. Read and understand the course/session description. Make sure you know what the session is about before you register and attend the class. Course descriptions are available in the online CPE/Event Catalog at www.wscpa. org/cpe/catalog. 3. Dietary needs. Feel free to request a special dietary meal. The WSCPA will always try to meet your request, as long as you make your request in advance of the event. 4. Plan ahead on being “unavailable.” Though it may be difficult, try www.wscpa.org

to make yourself unavailable to your office and coworkers. Planning to be out of touch, except for emergencies, will help limit interruptions to your learning experience.

the expert(s) leading your course and ask questions. Whether you hear something during the session that you want to clarify or you come prepared with a list, please feel free to ask questions.

5. Try to arrive on time and avoid leaving early. CPE credits are calculated by your contact minutes. Fifty minutes equals one credit hour. Once you reach 400 contact discussion minutes, you receive 8 CPE credits. The WSCPA is required to monitor arrivals and departures, so make sure you check the schedule.

9. Network. Look around. You’re surrounded by peers and experts in the profession. Network. Network. Network. Bring plenty of business cards and make some connections. You never know who you might meet, what you might learn and how it might help you in the future.

6. Pay attention. Put down the Blackberry and iPhone and leave the comic books, newspapers and knitting needles at home.These are all distractions to you, other attendees and the speaker. 7. Dress in layers. The WSCPA aims to keep the room comfortable. Unfortunately, the temperature in the meeting rooms often fluctuates beyond our control. 8. Ask questions! Take advantage of

10. Anticipate webcast instructions. If you have registered for a webcast, please watch your e-mail for instructions on viewing the webcast and testing your system.When you receive the e-mail, take the time to test your system. If you need assistance, you can contact the help desk provided in the e-mail. Going through this process will ensure your webcast viewing experience is as smooth as possible on the day of the webcast. Adapted and reprinted with permission from www.ohioscpa.com. ©2011 The Ohio Society of CPAs.

WashingtonCPA September/October 2011

news briefs

Special Member Discount from CCH

Save 25% on CCH U. S. Master Tax Guide Order by December 31 The sooner you reserve your copy of the industry’s leading tax guide, the higher your discount—reserve your copy by December 31, 2011 and save 25% off the list price of $86.50. The WSCPA member price is just $66.38 plus tax and shipping. You will not be billed until after the book ships. (Cancel before shipment without charge.) The 2012 edition will contain timely and precise explanations of federal taxes for individuals, corporations, partnerships, estates and trusts. To order, visit http://tax.cchgroup.com/ members/wscpa [Click “Browse CCHGroup.com, select “Books” and search for “U.S. Master Tax Guide (2012)]. Enter your member discount number (Y5596) at checkout.

new! WSCPA Conferences Oct 21

Accounting & Auditing Conference www.aawscpa.com

Nov 7-9 Pacific Tax Institute

www.pacifictaxinstitute.com

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WA Society of CPAs

Find a CPA in your city, call your firm, click here 20 minutes ago

The easy, affordable way to market your firm With tax season around the corner, now is a great time to enroll your firm in the WSCPA Find a CPA Referral Service. For just $175 you can list your firm with this service. Plus, you can add satellite offices for $50 each. Act now to be enrolled in the service through June 30, 2012. How does the service work? This service is marketed in directories statewide, online directories, and via Twitter. Each firm in the referral service is promoted via Twitter to our followers. Hundreds of individuals and businesses statewide looking for CPAs visit this service at www.wscpa. org or call the Society to receive a list of participating CPAs based on services offered. A recent user of the CPA Referral Service said: “Very helpful. It was a quick and easy-to-use resource, which produced half-a-dozen suggested CPAs [in my area that met my desired service needs].” What are the benefits? Consumers seeking a CPA will learn about your firm’s services and contact information. Provides inexpensive, effective marketing for your firm.

Membership Termination

The membership of Julie DiAnn Smith, Tieton, Washington, has been terminated in accordance with paragraph 11.6 of the WSCPA bylaws. This termination follows disciplinary actions imposed by the Washington State Board of Accountancy. Violation: Smith, in her capacity as Chief Financial Officer of Yakima Heart Center, Inc. PS, converted $59,277.25 to her personal account. Smith repaid the $59,277.25 plus interest to her former employer.

WashingtonCPA September/October 2011

Questions? Call (425) 586-1142, or toll-free in Washington at (800) 272-8273, Ext. 1142, or e-mail memberservices@wscpa.org.

Still only $175 to enroll your firm through June 30, 2012. Enroll or renew today! www.wscpa.org (click “Find a CPA”) www.wscpa.org

advocacy

Retired CPAs ... and Advocacy By Judy Love,WSCPA Director of Advocacy

even years ago, as part of the WSCPA’s Centennial celebration, 60 of our most senior members attended a luncheon in their honor. As I recall, the qualifying age to be on the invitation list was 70 years and older. Several in attendance that day were over 80, and at least one, John L. O’Brien, was over 90. It was a pleasant gathering that turned quite lively when one of the attendees asked, “When are you going to do something so we can refer to ourselves as CPA Retired?” As I recall, several suggested if the Society would charter a bus they would hop aboard and storm the Capitol – “like we used to” – to lobby for a solution. Did I mention that was seven years ago? And it was hardly a new issue at that time. Every year since then, at least one member calls to ask, “Is this on the agenda for this legislative session?” And every year, for a variety of reasons, the answer has been, “No, not yet.” 2012 may well be the year to finally “do something” about CPA Retired. Over the next several months, a Task Force of WSCPA and the State Board members will be working together to develop a proposal for a solution that satisfies CPAs and does not mislead the public. The Task Force will be reviewing a broad range of models from other states. There are various combinations of statute and rules, from very simple to very detailed. The most comprehensive treatment incorporates statutory language that grants the Board authority to write rules about how and when such a designation may be used. The Task Force will also look at the combination of law and rules that define how retired engineers in Washington State may refer to themselves as retired, and under what circumstances. South Carolina, for example, created a retired designation for CPAs in this way: www.wscpa.org

2012

may well be the year to finally “do something” about CPA Retired.

continuing education requirements, if any; fees, if any. As important as these more procedural aspects are, we also expect there will a great deal of thoughtful discussion about how to insure that the public is not mislead by any retirement designation. Any solution is also likely to define disciplinary measures in place should the designation be misused.

A licensee who is retired and does not perform or offer to perform for compensation one or more kinds of services involving the use of accounting or auditing skills, including issuance of reports on financial statements or of one or more kinds of management advisory, financial advisory, or consulting services or the preparation of tax returns or the furnishing of advice on tax matters, may apply to the board for permission to place the word “Emeritus” adjacent to the licensee’s “Certified Public Accountant” title or “Public Accountant” title on any document or device on which the “Certified Public Accountant” or “Public Accountant” title appears. (emphasis added)

The Task Force begins its work with no preconceived idea of the best, most obvious path to a solution. The many options that already exist will provide the Task Force with substantial information to help in the development of the most appropriate solution for Washington State CPAs.

South Carolina’s “Emeritus” status is renewed annually with no fee required. The Task Force will be grappling with such items as age requirement, if any; years of practice required, if any;

If you have thoughts, suggestions, concerns or questions about the creation of a designation for use by retired CPAs, please let me know. I will forward your feedback to the Task Force. We look forward to hearing from you. You can contact Judy Love at jlove@ wscpa.org, (425) 586-1130 or (800) 2728273, Ext. 1130.

WashingtonCPA September/October 2011

Career resources

Use Your Membership to Find Your Next Employee or Position

hether you are an employer looking to fill a vacant position or an individual looking for a job, the WSCPA Career Center and online Community Section are online resources designed to meet these needs and so much more. For employers looking to hire a CPA the Career Center offers: • Online Job Posting. Inexpensive job posting targeting Washington CPAs. Post job openings for up to 60 days for just $100. • Non-Profit Organizations. List open positions for free. • Online Resumes—Members can view online resumes. For members looking for the perfect job or career information, the WSCPA offers the following services: • Networking. Connect with other members to find your next job. Attend WSCPA networking events, chapter events or participate on a committee. Visit the WSCPA Community section at www.wscpa.org to explore these options. • Social Networking. Join the WSCPA on Facebook and on LinkedIn to make connections and to find your next job lead. Join today at www.wscpa.org. • Online Job Listings.View local jobs posted on the WSCPA Job Listing Service. • Nationwide Job Listings. Keep track of out-of-state listings posted on jobtarget.com. • Resumes. Post your resume in the WSCPA Career Center. • Salary Calculator. Use this calculator from PayScale. Members also have access to a premium salary report for six months ($19.95 value). To access log on as a member and click on Career Center, then Salary Information.

Whether you are an employer or a job seeker, turn to the WSCPA Career Center online at www.wscpa.org.

•

Career Workshops. Complimentary sessions designed to help you make your job search effective. From resumes to interviewing skills, learn tips and techniques from expert Jill Walser. For upcoming sessions see information below.

In addition to the traditional services above, the WSCPA also provides: • WashingtonCPA Classified Ads. Looking for office space to rent, or even a practice to purchase? You may just find what you are looking for in the Classified Ads at www.wscpa. org/Content/classifieds.aspx.

•

Volunteer Positions. Seeking an opportunity to give back to your community? Need a way to show that you are still active while you are looking for your next job? Browse volunteer opportunities for CPAs as requested by bona fide not-forprofit organizations in need of pro bono work by a CPA, or looking for CPAs to serve on their boards of directors.

Whether you are an employer or a job seeker, the WSCPA Career Center is your resource. Visit www.wscpa.org/ Content/careers.aspx and start using these tools to your advantage!

Career Workshops Complimentary for WSCPA Members

ou are invited to attend Career Workshops at the the WSCPA in Bellevue from 12-1:30 pm. Space is limited and registration is required. If you are unable to attend in person, a teleconference option is available. To register visit the CPE/Event Catalog at www.wscpa.org. Enter the code in the keyword search box or enter “CW” to view all sessions.

WashingtonCPA September/October 2011

Date

Career Workshop (code)

Sep 14

Job Search Strategies (CW02) Resumes from Top to Bottom (CW03) Interview Questions Part 1 (CW04) Interview Questions Part II (CW05)

Sep 28 Oct 12 Oct 26

www.wscpa.org

taxation

IRS Eliminates the High-Low Substantiation Method—Now What? By Eric P.Wallace, CPA

n late July 2011 the IRS announced (via IRS Announcement 2011-42) that it is discontinuing permitting the use of the high-low method as a method for substantiating lodging, meal, and incidental expenses that are incurred in travel away from home. The IRS had requested public comment on the need for the IRS to continue computing and issuing the rates for the high-low method and no one submitted any comments. Apparently the IRS equated the fact that they did not receive any responses as a lack of need for the high-low method. The IRS also promised that it would publish a revenue procedure that would provide the general rules and procedures for substantiating lodging, meal, and incidental expenses incurred in travel, just now without the use of the current high-low substantiation method. What are the rules related to the substantiation of overnight travel and the significance of the elimination of the high-low alternative in that process? Companies and their tax preparers have been confused by the per diem rate for some time. Often erring on the side of caution, many businesses overstate their disallowance of meal expenses.

The general rule under IRC Section 274(d), and its associated Treas. Reg. Sec. 1.274-5, provides that no meals and lodging are permitted as a deduction unless the taxpayer can substantiate the business purpose “by adequate records or by sufficient evidence corroborating the taxpayer’s own statement.”i The substantiation must include the amount, the time and place of travel, the business purpose of the expense, and the business relationship to the taxpayer.ii Where the highlow substantiation comes into place is the statement in IRC Section 274(d)(4)(D) that “the Secretary may by regulations provide that some or all of the requirements of the preceding sentence shall not apply in the case of any expense which www.wscpa.org

does not exceed an amount prescribed pursuant to such regulations.”iii

Until the Service actually issues that new, promised revenue procedure on substantiating lodging, meal, and incidental expenses, the current revenue procedure that continues to rule on using a per diem rate is Rev. Proc. 2010-39. Unless a

Use the per diem allowances (overcomes the requirement to adequately account to the employer) even if the per diem amount paid exceeds the actual expenses incurred. Under this method the employer’s deduction will be limited for the portion of the per diem deemed to What are the rules related to the substantiation of overnight travel and the significance of the elimination of the high-low alternative in that process?

taxpayer substantiates the actual travel expenses incurred, he or she will get no deduction unless he or she complies with the per diem rules.

be paid for meals and incidentals, even if the employee only incurred lodging expenses. 3. Reimburse or pay the employee an amount for travel, and the employee does not have to account to the employer. Under this alternative, the employer has to include the amounts paid to the employee in the employee’s wages, but the employee can claim the actual expense as a miscellaneous itemized deduction subject to the 2% of AGI disallowance.

Generally, an employer or selfemployed individual has three choices when it comes to expenses that were incurred for business travel (assuming that the travel is substantiated or the travel days are substantiated, in the case of the per diems): 1.

Reimburse the employee the actual expenses incurred. The business will be limited in the amount allowable as a deduction under IRC Section 162 for any expense for food or beverage to 50 percent of those amounts, and the employee must properly account to the employer for those expenses.

Per Diem in General or the “regular per diem”

A per diem is a payment under a reimbursement or expense allowance i

IRC Section 274(d)(4) IRS Section 274(d)(4) (A)-(D) 274(d)(4)(D)

iii

WashingtonCPA September/October 2011

taxation

arrangement that is paid by the employer for ordinary and necessary business expenses incurred, or anticipated to be incurred, by an employee for lodging, and meal and incidental expenses (M&IE), or just meal and incidental expenses alone, for travel away from home for performing services as an employee of the employer. It is paid at or below the applicable federal per diem rate, a flat rate or stated schedule, or in accordance with any other Service specified rate or schedule. The last sentence is key in this discussion. If an employer chooses to pay a per diem it has three choices (a) use the federal per diem rate, (b) use a flat rate, or (c) use any other Service specified rate or schedule (i.e. the High-Low method). Therefore, even though the high-low substantiation per diem alternative is going to be eliminated, an employer who desires to pay employeesâ&#x20AC;&#x2122; away from home travel expenses can still use

the federal regular per diem rate or a flat rate. The federal per diem rate and federal M&IE rate are published from time to time by the GSA (the U. S. General Service Agency). For travel in the continental United States these are known as the CONUS rates.These can be found on the internet at www.gsa.gov. For example, the per diem rate for Seattle for 2011 is $169, of which $56 is the M&IE rate. [Note that there is a per diem rate for meals and incidental expenses and one for meals and incidental and lodging, but not one for lodging alone. For 2011 the GSA established the standard CONUS that covers most of the US as $123 ($77 for lodging and $46 for M&IE). So for disallowance of the 50% meals, an employer would add back $23 (50% of the $46) and be able to take an actual tax deduction of $100 for a full per diem paid.

WashingtonCPA September/October 2011

Many employers reduce their deduction by 50% of $123 by mistake. If an employer pays more than the federal per diem rate, the M&IE rate is the limitation subject to the 50% disallowance. On the other hand, if the employer pays less than the federal per diem rate, the employer can treat as M&IE the whole M&IE rate or 40% of the total allowance paid as the M&IE portion subject to the 50% deduction disallowance.]

Flat Rate

Instead of the per diem, an employer can pay a flat rate. This is defined as an allowance or amount paid at a flat rate or stated schedule if it is provided on a uniform and objective basis for the travel and as long as the flat rate is reasonably calculated not to exceed the amount of the expenses or anticipated expenses.The allowance may be paid for the number of days away from home performing services as an employee or on any other basis that

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taxation

is consistently applied and in accordance with reasonable business practice. There are other limitations imposed by the IRS on flat rates. (Consult Rev. Proc. 2010-39, section 3.03)

The High-Low Substantiation Method of Per Diem

Prior to the time that the IRS comes out with the changes terminating the high-low per diem method, instead of using the CONUS per diems described above, an employer can employ the highlow substantiation method for travel in the continental US. The amount of the expenses deemed to be substantiated for each calendar day is equal to the lesser of the per diem allowance for that day or the amount computed at the high-low rate. The high-low is a per diem rate, just measured as $233 for travel to any “highcost locality” that the IRS specifies, and $160 for travel to any other place for post September 30, 2010 travel. For these

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high-low per diems, the M&IE portion is deemed to be $65 and $52 respectively for the high and low places. An employer can mix the regular per diem with the high-low per diems for its employee pool, but once an employer uses the high-low method for a particular employee, that employee must use that method for all amounts paid for travel during the calendar year (or still reimburse the employee’s actual expenses, use the M&IE per diem only, or the regular per diem for travel outside the continental US.) (Note that the Seattle area is deemed to be one of the “high” locales eligible for the high per diem rate of $239 instead of the regular per diem rate of $169).

Conclusion

Even though the elimination of the high-low per diem method takes away from employers an alternative of one of the per diem methods currently available, employers will still be left with other per

diem methodology choices or paying the actual travel expenses incurred. The rules for substantiation and reimbursement of employee travel expenses continue to be very complicated even with this (high-low) per diem alternative elimination. Employers and their tax preparers need to be wary of the numerous traps that remain in the per diem rule “mine field.” An employer who does not mind his or her step will find a FICA and FWH bomb eventually planted by the IRS for deemed errors on employee travel reimbursements that do not meet the IRS rules and guidance. Eric P. Wallace, CPA, is a Partner and member of the Construction & Real Estate Services Team for Carbis Walker LLP, Pittsburgh, Pennsylvania, and author for CCH. He is a featured speaker at the Pacific NW Construction Industry Conference, November 10-11 at Bell Harbor International Conference Center in Seattle.

WashingtonCPA September/October 2011

office space

Sound Real Estate and Facilities Decisions for Your Business By Dan Whitaker, CPA, and Kevin Grossman, MBA

ffice space leases affect finance, operations, marketing, retention and recruitment – and often you as a senior member of the decision making team are asked to lead the charge. You want the outcome to be celebrated – a true win for your company, employees and a situation that supports the goals and values of the firm. Here are some of the key lessons learned and suggestions from the former CFO of a commercial real estate developer and a tenant rep broker who have helped many companies with these decisions. Your finance background will of course help with many key aspects – conducting a thoughtful, whole system assessment, clarifying your firm’s needs, identifying options, negotiating lease details and finally, moving in. Some people in this role find it challenging to handle the required communications and deal with various people. Others find it difficult to create buy-in and develop subjective but critical goals your organization needs to accomplish from the process. Incorporating the broad range of stakeholder concerns and objectives into the process produces better results.

location decision can critically affect the company’s future. You will want to consult others during the decision making process, namely:

Identifying Your Company’s Goals

Taking the time to articulate your company’s values, and getting input from key stakeholders and decision makers is a good starting point. C-suite,VPs or other key leaders can be expected to greatly influence what the final goal should look like. Depending on the company, however, often it can be very important to get input from staff with modest sounding titles as well, such as a shipping manager in a company that relies on distribution or the IT department if you are extraordinarily reliant on advanced technology and connectivity, or the production manager of a manufacturing firm. For each of these the

• • • • • •

your attorney for lease review and possible land use issues; perhaps a PR firm; space programmer and designer; banker; key business partners; and a real estate broker representing your interests, not the landlord’s – during the process and transaction, through completion and move-in.

A good team that works together well will help save you time, as well as provide peace of mind about the decision making process.

WashingtonCPA September/October 2011

The RFP Process

Once you have identified your space needs, taking a request for proposal (“RFP”) approach provides a systematic path to follow. To start, you or your broker can pull together a list of key issues – deal breakers, nice to have items and their relative importance. Then structure a set of questions for information on the top 3-5 candidates for which you want to invest time in serious negotiations. The draft of the RFP items will provide a good screen for determining what sites, properties and alternatives are worth your time for a personal site visit in the first place. The RFP process at its simplest: clarifies your requirements, requests specific information you need to assess and negotiate, and gets to a detailed letter of intent that can be used as the basis for moving forward with clarifying and negotiating the lease document.

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office space

When Selecting a Broker

Selection of a broker who’s a good fit for you and your company is important. A good broker will ask the important questions, work to really understand your company’s values, goals and objectives, offer expert advice, and work to negotiate the best overall agreement. This refers to the overall transaction, including outcomes of both objective and subjective characteristics. Some items difficult to capture in a quantitative assessment of the deal are equally as important, such as flexibility, expansion, contraction, personal vs. corporate signatures on the lease, the requirement or parameters of a landlord’s approval for assignment or subletting, off-hours access, signage and quality of building management. When interviewing potential brokers, listen to what they are asking and see if you feel that they are listening to you. Identifying space for lease is easy for any competent broker. The skill to deeply listen, then understand and reflect your company’s needs through the process is where critical value is added to the process.

Improving Communication and Decision-Making: Tools and Tips

If you are the point person, communicating the process to fellow decision makers is critical. Using a net present value worksheet (download a sample worksheet here: www.smartofficespace decisions.com/wscpa/example.xls) is a useful tool to help you stay attuned to and communicate issues around how tenant improvements are handled, operating expenses passed through (be sure to get actual numbers, not just budgeted charges from past years), and of course base rent numbers. An additional refinement is to have the NPV relative to the efficiency of the space. If you need to house 100 employees, the way

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Download a sample net present value worksheet at www.smartofficespacedecisions.com/wscpa/example.xls the floor plate lays out could result in a 20% variation of the amount of space you need to accommodate the same number of people and functions. Sometimes the rent isn’t related to the most cost effective solution. Boiling the final couple of options down to this level of detail is very helpful in negotiating and finalizing decisions. A related tool that can be quite helpful is a forced ranking of the subjective items (find an example in file mentioned above). This list can include aesthetics, neighborhood amenities, other tenants in the building, market perception of the city or specific address of the subject property, sustainability or green aspects such as composting, natural ventilation, access to good public transit, bike racks and showers, and other concerns you choose to acknowledge and rate. While the weighting is of course very subjective as well, the discussion of the items on the list and their relative value is often the most valuable portion of this exercise.The outcome of the conversations generally produces an agreement on prioritization, and identifies conflicting issues which you will need to resolve. The frequency and breadth of the communications will vary widely depending on organizational cultures and how much time you have to work with the process. Asking for input and keeping people informed should be distinguished

from joint decision making, unless that is your intention. Soliciting input can be misinterpreted by some stakeholders that the process is democratic. Most times it is not. The input and communication is intended to acknowledge valuable feedback, not to abdicate the process or responsibility for the final outcome. With a solid process in mind, clearly articulated goals and a terrific team to work with, you are ready to lead the charge and get the business space decision made and implemented.The company will celebrate your success at the open house (or more quietly if it’s a renewal). Dan Whitaker, CPA, is a real estate and financial advisor. During his 28 year career he has been the senior finance officer for a number of real estate development and investment firms. Dan’s consulting practice focuses on assisting firms to make smart real estate investment and financial decisions. You can contact Dan at Dan.Whitaker@ comcast.net. Kevin Grossman is the President and Managing Broker of Grossman Services, Inc., specializing in representing business tenants, helping companies in Western Washington make informed real estate and facilities decisions on over three million square feet of business space. Learn more at www.smart officespacedecisions.com or www.business spacedecisions.blogspot.com.

WashingtonCPA September/October 2011

industry voice

On Fire CPE For Industry CPAs

Technology for CPAs: Don’t Get Left Behind (TEC) September 21, 2011 | WSCPA Learning Center, Bellevue

Charting with Excel (COMEX06) October 5, 2011 | WSCPA Learning Center, Bellevue

Technology continues to accelerate rapidly, and CPAs need to keep pace. Review today’s IT environment, while you learn about computer hardware, software, operating systems (including Windows 7 and what it means for you), and peripheral devices. Explore significant trends in information technology and how to take advantage of the opportunities presented by these trends. Discover what CPAs need to know about the latest Excel features, working with PDF files, and security and privacy issues related to IT. View practical applications of the latest tools that provide CPAs in all disciplines with the information they need to harness the power of technology, both now and in the future.

Charts help you get your point across. With a chart, you can transform worksheet data to show comparisons, patterns, and trends. Learn the basics of charting with Excel, such as custom formatting, techniques and useful tricks. Note: Computers are supplied for participants.

Driving Corporate Performance: The CFO’s Role in Developing Competitive Advantage (DCP) September 23, 2011 | WSCPA Learning Center, Bellevue

Successful companies have strategies that allow them to use their resources efficiently by focusing on a portion of their industry where they can have a competitive advantage. Most financial managers can recognize a successful business strategy when they see it, but may have little experience creating a roadmap to take them there. Get the skills necessary to tie your company’s strategy to its performance metrics and drive achievement of its objectives. AICPA’s Controllership: 25 Critical Lessons form the Trenches (CDLT01) September 28, 2011 | Hampton Inn Spokane

Tired of CPE that has no practical application? Put into practice 25 practical tools that will improve your daily job performance in the controllership area. Learn practical skills required to be a successful controller and to enhance the profitability of any growing company. Discover how to shift from a reactive to a proactive mode of operation as well as how to avoid the constant crisis techniques common to many private companies. Walk away with various financial and managerial tools and techniques to improve day-to-day decisions that affect business operations and profitability.

Gary Zeune’s Guide to Controller to CFO: 11 Skills to Make the Trip (GCFO) October 12, 2011 | WSCPA Learning Center, Bellevue

Learn the skills needed to become a world-class small business CFO. Learn how to use different “styles” to accomplish what needs to get done. Find out how to get employees to take bold risk and solve their own problems. Discover how to “brand” yourself to maximize your value. Discuss how to manage employee conflict, anger and emotions; how to cultivate finance talent from bottom to top; how to get customers, employees, vendors and management to trust you. Chief Financial Officer: Executive Level Skills for Financial Managers (CFO) October 24, 2011 | WSCPA Learning Center, Bellevue

Being a great accountant alone will not qualify you to be a chief financial officer. Effective CFOs are strong business people whose knowledge goes well beyond accounting. Discuss the CFO’s role in four important aspects of running a business. Performance Analysis: Identifying Profit Improvement Opportunities (PA) October 25, 2011 | WSCPA Learning Center, Bellevue

Discover ways to make your company more profitable. This fast-paced, interactive seminar will teach you how to use operational auditing and performance analysis techniques to identify and implement cost saving opportunities through process reviews. Learn how to be more efficient and add value in your field, whether you are an experienced financial manager or a professional operational auditor.

Looking for additional CPE? Learn about more seminars for CPAs working in business and industry at www.wscpa.org/CPE/catalog.

WashingtonCPA September/October 2011

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Washington CPA Foundation

A Closer Look at Washington CPA Foundation Accounting Scholarships By Kimberly Scott, CAE t is no secret that the cost of a college education is skyrocketing. However, the need for college graduates is also growing at an alarming rate. Although America still has a high rate of unemployment, accounting jobs are once again on the rise. Experts say that within a few short years we will have a shortage of CPAs. One of the key missions of the Washington CPA Foundation is to provide scholarships to future CPAs, making their dream of an education a little more attainable. Anyone can support the Foundation, and more than 400 WSCPA members do each year. Contributors at the Leadership Circle level have the opportunity to meet other influential professionals and the scholarship recipients at an annual reception held in January. Learn more at www.wscpafoundation.com. The foundation annually awards $40,000 in scholarships. Historically, this has been distributed as 20 scholarships, each in the amount of $2,000. Due to the rise of tuition, the Foundation Trustees decided larger scholarships would make a difference. The current goal is to provide $60,000 in scholarships for the 2012-2013 school year, giving $3,000 scholarships. Although the funds raised for scholarships this year remained at $40,000, the Trustees and the scholarship selection committee agreed to increase the amount of the awarded scholarships. Thirteen scholarships were awarded for the 2011-2012 school year to the deserving future CPAs listed in the box and pictured online at www.discovercpa.org/ discovercpa/scholarships/winners.cfm. I want to highlight a couple of incredible items related to this year’s and future scholarships. www.wscpa.org

2011-2012 Scholarships

Roy J. Polley Memorial Scholarship Tracy Sager, Western Washington University George Waterman Memorial Scholarship Eli Wang, Seattle University Sambataro Family Foundation Accounting Scholarship Emily Kulm, Gonzaga University Washington CPA Foundation Scholarships Travis Bean, Washington State University Lindsey Borgens, Central Washington University Teri Garza, Washington State University - Vancouver Monica Ittes, University of Washington Tara Low, Washington State University Kristin McMahon, Washington State University - Vancouver Eliza Nesvog, University of Washington Aymeric Prieur, University of Washington Amy Rufener, University of Washington Lauren Surek, Pacific Lutheran University Make your tax deductible contribution at www.wscpafoundation.com

Memorial Scholarships

First, the largest scholarship provided this year is the Roy J. Polley Memorial Scholarship. This scholarship was funded by Linda Polley, Mr. Polley’s widow, in his honor and by his wishes. He was an accounting educator in Washington State for many years. Many of his students will testify to how wonderful of an influence he was in their lives. Anyone can request their donation to the Washington CPA Foundation contribute to Roy’s fund by making a notation to do so. George Waterman also has a memorial fund set up many years ago, and you may contribute to support his scholarship as well.

Named Scholarships

Secondly, the Foundation introduced a program this year to allow contributors to create a one time or yearly named scholarship without an endowment. Under this program, anyone that contributes $3,000 at once may name a scholarship (thank you to the

Sambataro Family for being the first to support this program). Through this program you can show your family’s support, remember a loved one, celebrate a retirement, or showcase your firm or company, for example. There are three named scholarship participants for the 2012-2013 school year and more contributors are taking advantage of this new program. • • •

Sambataro Family Foundation Shimer Family Scholarship KPMG LLP Accounting Scholarship

You can learn more about the program at www.wscpa.org (search for “named scholarships”) or go directly toxwww.wscpa.org/Content/Named Scholarships.aspx. You can also call (425) 586-1108 for details on this opportunity. Kimberly Scott is WSCPA Director of Member Services and Executive Director of the Washington CPA Foundation. You can contact her at kscott@wscpa.org.

WashingtonCPA September/October 2011

Technology Tip

The Fastest Way to Create a Chart in Excel By K2 Enterprises

harting has long been one of Excelâ&#x20AC;&#x2122;s least understood features. Sure, most people know that you can highlight a range of data and then insert a Chart from the Ribbon in Excel 2007 and Excel 2010 or from the Insert menu in Excel 2003 and prior. But what most users do not know is that those steps are not even necessary! Building a chart in Excel requires nothing more than clicking in the range of data you wish to chart and pressing F11. Doing so causes Excel to chart the data range in your default chart style. For example, by first clicking in cell D4, shown in

Figure 1, and pressing F11, Excel creates a chart of the data in the default chart style and does so on a separate worksheet, as shown in Figure 2. If you prefer for the chart to be on the same worksheet as the data, instead of pressing F11, press ALT + F1. Of course, in either case, once you have created the chart, you can customize it to your particular needs to communicate your desired message.

For a video demonstration of this tip, please visit www.tinyurl.com/k2tips76. K2 Enterprises provides WSCPA members with CPE courses on a variety of technology topics, including the Information Technology Conference (ITC), Dec. 12-13. Visit the CPE/Event Catalog for more information about ITC and a schedule of other technology classes.

Learn More Excel PivotTables for Accountants - Part II (PT2401) Monday, September 19 WSCPA, Bellevue

Figure 1

Security Tools - Up Close and Personal (SEC401) Monday, September 19 WSCPA, Bellevue Word for Accountants (WOR) Tuesday, September 20 WSCPA, Bellevue Technology for CPAs: Donâ&#x20AC;&#x2122;t Get Left Behind (TEC) Wednesday, September 21 WSCPA, Bellevue Information Technology Conference (ITC) Monday-Tuesday, December 12-13 Meydenbauer Center, Bellevue For details and to register, visit www.wscpa.org/cpe/catalog.

WashingtonCPA September/October 2011

Figure 2

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member discounts

Photo Album Trivia Night April 2011

Steam Plant Grill, Spokane

Wine Tasting June 2011

Patterson Cellars, Seattle

IRS or Washington State Tax Problems? Experience Can Make A Difference. IRS, Revenue and Labor & Industries Audits: Administrative and Judicial Appeals & Refund Actions; Lien & Collection Problems; Tax Planning; Commercial Litigation.

Martin Silver  L.L.M. (Tax) New York University  Author of Washington Taxes: Representing Taxpayers Before The Department of Revenue, (Butterworths 1992)  Adjunct Professor, Golden Gate Representing Businesses and Professionals Nationwide, Confidentiality Guaranteed.

OFFICES OF

Martin Silver, P.S. Attorneys & Counselors

800 - 5th Avenue, Suite 4000 • Seattle, WA 98104 • Telephone: (206) 224-3461 • Fax (206) 224-3459

www.wscpa.org

WashingtonCPA September/October 2011

Financial Literacy

Going for Extra Credit By Amy O’Donnell,WSCPA Financial Literacy Program Manager

inancial education is a lifelong process. As we age our challenges and concerns around building and maintaining assets change. Products and the market change as well forcing us to become more savvy consumers. While the under 18 crowd is learning the basics so they can spend the next five plus decades building assets and investments and preparing for retirement, those over 65 are focused on finding ways to stretch their funds. We’ve seen in recent years that changes in the economy can disrupt even the best laid plans, which reinforces the need for education and knowing where to go for trustworthy information as times change. Starting to understand how to manage your funds can begin at an early age as demonstrated through the recent addition of financial literacy to Sesame Street. Elmo and friends have started to break it down for children by having a conversation on needs and wants. Cookie Monster even talks about saving—and we know how much restraint he has. If he can save, there is hope for the rest of us. Sesame Street also created materials for parents to use at home. Starting family discussions about money when children are young helps build a solid financial foundation, rather than one that looks like Swiss cheese. When kids move past the Sesame Street phase of life, they face new challenges like peer pressure and become aware of product marketing. Teenagers often act as if they know everything and do not need to listen to parents. Actually, teenagers are quite interested in learning how to be financially independent. This age group needs to hear financial lessons over and over to make sure that the message sticks and to ensure they can avoid some financial potholes. Websites like Practical Money Skills have online games to help the video game generation learn more about money management in an interactive format. Apps also pro-

If Cookie Monster can alter his cookie eating ways after a little education, then we can, too.

vide educational videos, lessons, and help teenagers to track their spending. After high school, teenagers enter a phase which lasts until retirement—the reality of money management. Credit and credit scores are a big factor for this group. Credit assists you in reaching goals and provides access to lower interest rates, or it acts as a weight that limits financial growth and future options. It’s easy to get off to a rough start with credit, especially credit cards. They are seductive with the promises of a better life—one that is filled with the latest and greatest. Too often people realize too late that unchecked use of credit cards is like realizing you are hanging with the wrong crowd after you have gotten in trouble. This lack of understanding can be very costly and cause you to build debt rather than wealth. Avoiding the traps that destroy credit is much easier than the lengthy process of improving poor credit. Some tips for all ages:

WashingtonCPA September/October 2011

•

Pull your credit reports through www.annual creditreport.com. Annually, you can request one free credit report from each bureau. Check what is being reported and address any errors. This information determines your credit score, so you want it to be accurate. Look for signs of fraud on your credit reports and address them right away. Keep a close eye on your credit card and bank accounts.You might think it is OK to ignore a 30 cent mystery charge, but it may be an early warning sign of identity theft. You don’t want someone ruining the credit you have worked hard to build.

•

Use credit wisely. Only ask for the credit you need and once you have the lines of credit, handle them with care. Keep your balances to under 30% of your limit, 10% or less is ideal. Shop around to save money. Assess the cards and bank accounts you have and shop around for better terms and rates. Use websites like Bank rate.com to find your options. Evaluate other financial and insurance services you use to see if you can get a better deal. Educate yourself on the basics of retirement planning and know how much you need to save. Stay on top of scams and frauds that may affect your nest egg by using resources and newsletters from groups like NASAA and FINRA. Work with a CPA or financial planner to help you assess retirement options. Determine your goals, evaluate whether they are realistic, and what you need to do to reach them.

Finding trusted resources online is a challenge. You will find reliable information on websites like 360 Degrees of Financial Literacy from the AICPA, the American Saves, Federal Trade Commission, Kiplinger’s, Mint.com and Bankrate. com. Their RSS feeds and blogs will help you track the latest issues, changes in financial products and how to protect your assets. If Cookie Monster can alter his cookie eating ways after a little education, then we can, too. Amy O’Donnell can be reached at aodonnell@wscpa.org.

www.wscpa.org

CPE Digest Self-Study CPE Subscriptions

Designed for CPAs

Unlimited CPE. Unmatched value. • Subscriptions start at only $189 (+tax) for dozens of streaming video or text-based CPE courses • Earn Ê to Î CPE credits for each course

your CPE discount with your non-CPA staff As a WSCPA member, you can train your non-CPA professional staff and associates at the discounted member rate. The WSCPA will extend your member discount on live education courses to your non-CPA staff, saving your organization up to $75 on each 8-hour course. To receive this discount, please call (425) 644-4800 or (800) 272-8273, toll-free in Washington.

• Choose from four subscription options WA Pros online annual self-study subscriptions provide unlimited access to text-based and streaming video CPE at unbeatable prices. These CPE packages will keep you up to date on ever-evolving rules, regulations and trends affecting public accounting, business, government or NFPs. Order at www.wscpa.org/selfstudy or call the Society, (425) 644-4800

or (800) 272-8273 (toll-free in Washington).

Thriving in Challenging Times: MAP Solutions for CPA Firm Leaders Featuring Rita Keller September 21 - 8 am - 4 pm | WSCPA, Bellevue | CPE credits: 8 technical During this special 8-hour CPE event presented by the WSCPA and the Washington Chapter of the Association for Accounting Administration, nationally recognized speaker Rita Keller and other renowned speakers will explore current trends in the world of public accounting. • • • •

Keynote Session with Rita Keller: Thriving in Challenging Times - The Importance of the 3Ms - Mentoring, Marketing & Managing Practice Growth and Development Through Social Media Overcoming the “Perfect Storm” with the Right Business Strategy What’s Hot, What’s Not in CPA Firm Management

Learn more and register today at www.wscpa.org/cpe/catalog (code AAA).

WashingtonCPA September/October 2011

When was the last time you attended a WSCPA conference? Look what’s new! Including two new conferences. •

More national speakers and local favorites

•

High level content

•

More networking opportunities

•

Excellent locations and venues

www.wscpa.org/conferences www.wscpa.org

conferences

C onferenceS

Fall 2011

new! Accounting & Auditing

Pacific Tax new! institute

Conference

The Pacific Tax Institute, a new conference designed for experienced tax professionals, will explore the many changes in federal tax. At this premier conference, recognized tax experts will explain everything you need to know about the following topics:

Concurrent Sessions:

• • • •

FASB Update Auditing Update Lease Accounting Private Company Accounting Standards Update

• • • • • •

Technology Update for the Lay-CPA Single Audit Update Fraud Prevention and Detection Revenue Recognition IFRS Update AICPA Accounting and Review Standards Update

8 Technical CPE credits WSCPA Member Fee Standard Fee

$285 $360

Webcast also available (WEBAAC) SPONSORS

lEARN MORE...

F in d co n fe re nce det a i l s (sc hedul e s, s p e a ke r b i o s and more) online at www.wscpa.org/conferences

Other conferences coming soon: Dec. 2 Dec. 12-13 www.wscpa.org

Fraud Conference Information Technology Conference

General Sessions:

The Accounting & Auditing Conference will provide the crucial guidance you need to stay in compliance with the many A&A rules affecting your practice, business or clients. Register today!

• It’s not Your Father’s Tax Practice … Risk & Regulation in Modern Tax Practice • Nexus, Schmexus: How I Learned to Stop Worrying and Love Paying State Taxes • Cases and Rulings Update • Practical Tips and Tools to Navigate Health Care Reform • Cases and Rulings Update • Accountants Liability: How to Protect Your Firm and Yourself from Legal Liability • What’s New in Handling Controversies with the IRS

Concurrent Sessions:

November 7-9, 2011 | 8:00 am - 4:30 pm Bell Harbor Int’l Conference Center, Seattle

General Sessions:

October 21, 2011 | 8:00 am - 4:05 pm Meydenbauer Center, Bellevue, WA

• Tax Credits and Strategies: Opportunities for You and Your Clients • Partnership Debt Forgiveness • Passive Activity Rules • Income Taxation of Trusts • Estate Planning in a

Low Interest Rate Environment • Economic Substance • Lifetime and Estate Planning Strategies with IRAs and Retirement Plans • An In-depth Look at the FBAR

All Days One Day Nov 7, 8, 9 Nov 7 or 8

WSCPA Member Fee

$775

$380

Standard Fee

$850

$455

Guest Registration Fee

$79

20 Technical CPE credits

Stay at the beautiful Marriott – Seattle Waterfront! Reserve your room by Oct. 17 for the special rate of $175/night plus tax. Call (800) 455-8254 or (206) 443-5000. Mention the WSCPA Pacific Tax Institute room block. Learn more at www.wscpa.org/conferences. SPONSORS

Supporting Sponsor

Conferences

C onference S Fall 2011

Pac ific NW Co nstr uctio n In d u st r y

Conference

October10-11, 21, 2011 | 8:00 a.m. November 2011 | 8:00 am--4:05 4:30p.m. pm Meydenbauer Center, Bellevue, WA Bell Harbor Int’l Conference Center, Seattle, WA Accounting & Auditing Conference willConference, provide The The Pacific Northwest Construction Industry the crucial guidance you need to stay in compliance co-sponsored by the CFMA, will bring you up to speed on with the many A&A rules affecting your practice, recent trends and provide essential guidance on hot topics business or clients. Register today! affecting construction accounting and financial management. • Update FASBApplicable Update to the Construction Industry Accounting • Auditing (Including FASB RevenueUpdate Recognition and Leases Projects) • Applicable Lease Accounting Tax Update to the Construction, • Blue Ribbon Update Industries Homebuilding, and Real EstatePanel Development IFRS Convergence Contractor • Panel Technology Update for the Lay-CPA New Day,• NewA133 Strategy: Repositioning After the Update Great Recession • Fraud Prevention/Detection Social Media: Are You Capitalizing on the • How Revenue Recognition Communication Revolution? (non-tech credit) • IFRS Update Fraud in the Construction Industry • SSARS Update Panel: Surety Credit During Tough Economic Times

General Sessions:

• •

Concurrent Sessions:

• • • • • •

Plus 8four concurrent Technical CPE sessions credits covering hot topics like Cloud Computing, Coordinating Field & Accounting, WSCPA Member Fee $285and Developing YourStandard Construction Niche Marketing Plan, and much more! Fee $360

16 CPE creditsalso (includes up to(WEBAAC) 2 non-technical) Webcast available WSCPA & CFMA Member Fee $525 Standard Fee $600 Conference details Co-sponsor Stay

at the beautiful Marriott – Seattle Waterfront! Reserve your room by Oct. 19 for the special rate of $175/night plus tax. Call (800) 455-8254 or (206) 443-5000. Mention the WSCPA Pacific NW Construction Conference room block. Learn more at www.wscpa.org/conferences.

Not-For-Profit CONFERENCE November 17-18, 2011 | 8:00 am - 4:30 pm Bell Harbor Int’l Conference Center, Seattle, WA Are your approaches to the unique challenges facing not-forprofit organizations set on auto pilot? Be energized and get informed about trends and hot issues you need to know to be prepared for the current climate and its recent changes. Attend the Not-For-Profit Conference! • • • • • • •

FASB Update Nonprofit Operating Reserves: Rationale and Policy Development Guidelines Jurassic Parliament: Running Great Meetings Using Robert’s Rules (non-tech credit) Panel: Sharing Resources, Outsourcing and Strategic Partnerships 2011 Federal Tax Update More than a Name: How a Communications Nonprofit Learned to Communicate Time Management: Techniques to Prevent Your Time from Managing You (non-tech credit)

And numerous concurrent sessions, including these topics:

FASB Hot Topics, Psychological Manipulation to Cover Fraud, NFP Financial Analytics, Hot State and Local Tax Issues for Nonprofits, How to Convince Your Bank to Loan Money to Your Organization, Development Metrics: Bridging the Finance Fundraising Conversation Effectively, Responding to Health Care Reform, Generational Work Styles and Differences, Overview of Risk Management for Non-Profit Organizations, Registration Requirements with the Washington Secretary of State: The Basics & Beyond, Roadmap to Understanding Nonprofit Financial Statements, and Panel: A-133 Challenging Compliance Areas.

16 CPE credits (includes up to 4 non-technical) WSCPA Member Fee $400 Standard Fee $475

Webcast also available (WEBNFPC)

SPONSOR

SPONSORS

WashingtonCPA September/October 2011

www.wscpa.org

Education and events Fees

Date

CPE Credits

Course

Code

events by location # WSCPA education and events scheduled for Sep. 1-Nov. 15, 2011 are listed below, chronologically by location. If you are looking for a program in another location, it may be scheduled for later in the year. Using the online CPE/Event Catalog at www.wscpa.org/ CPE/catalog, you can search by location.

For more details, search by code at www.wscpa.org/cpe

Type

2011-2012 EVENT SCHEDULE To view the complete schedule of events through May 2012, refer to the CPE/Event Catalog at www.wscpa.org or the Fall issue of the 2011-2012 Washington Professional Education Catalog. To request a copy of the catalog, call (800) 272-8273 (toll-free in Washington) or e-mail cpe@wscpa.org. LEARN MORE To view complete course details, please visit the CPE/ Event Catalog at www.wscpa.org/CPE/catalog.

WSCPA NonAICPA Member Member Member Fee Fee Discount A&A

CS EB

SUBJECTS The main subject area is listed for each program.

PFP Ethics GNP MG PD

Need help finding a seminar or webcast? Call (800) 272-8273 or (425) 644-4800.

SK TAX TEC

Facility

Accounting and Auditing Consulting Services Employee Benefits Estate/Financial Planning Ethics Government / NFP Management Personal Development Specialized Knowledge Taxation Technology

Fees Date

CPE Credits

Subject

Course

WSCPA NonAICPA Code Member Member Member For more details, Fee Fee Discount search by code at www.wscpa.org/cpe

Facility

Personal Financial Accounting: A Prescription for Achieving and Managing Wealth by Walter Haig, 8am-4pm

PFA

305

380

WSCPA

A&A

Northwest Accounting Educators Conference, 8am-4:20pm

NAEC

225

WSCPA

A&A

Type

Subject

Bellevue Sep 7

Sep 7-8

Sep 8

Compilation and Review Standards Update and Review by Walter Haig, 8am-4pm

CRUR03

305

380

WSCPA

A&A

Sep 9

GAAP Update and Review for Small and Medium-Sized Entities (SMEs) by Walter Haig, 8am-4pm

GURSME03

305

380

WSCPA

A&A

u S

Sep 12

Sep 15

Sep 19

Washington B & O and Sales Tax, 8am-4pm

WSTX02

275

350

WSCPA

TAX

Trivia Night- Networking Event, 6-8:30pm

NP04

Rock Bottom

Excel PivotTables for Accountants - Part II, 8-11:30am

PT2401

145

180

WSCPA

TEC

Security Tools - Up Close and Personal, 12:30-4pm

SEC401

145

180

WSCPA

TEC

Thirty-Plus Practical Tools and Techniques for Making Your Key Financial Decisions, 8am-4pm

TTMD

275

350

-30

WSCPA

Sep 20

Accounting for Income Taxes: Applying SFAS No. 109/FIN 48: A Whole New Ballgame!, 8am-4pm

AIT01

275

350

-30

WSCPA

A&A

Sep 20

Word for Accountants, 8am-4pm

WOR

275

350

WSCPA

TEC

Sep 21

Technology for CPAs: Don’t Get Left Behind, 8am-4pm

TEC

275

350

WSCPA

TEC

ç Sep 21

AICPA’s Annual Update: Top 12 Governmental and Nonprofit Accounting and Auditing Issues Facing CPAs, 8am-4pm

TGNP

275

350

-30

Meydenbauer Center

GNP

Sep 21

Thriving in Challenging Times: MAP Solutions for CPA Firm Leaders, 8am-4pm

AAA

180

205

WSCPA

Sep 22

Acquisitions to Grow the Business: Strategy, Structure, Integration & Due Diligence, 8am-4pm

AGB

275

350

WSCPA

Sep 23

Driving Corporate Performance: The CFO’s Role in Developing Competitive Advantage, 8am-4pm

DCP

275

350

WSCPA

Sep 26

Form 990: AICPA’s Answer to Unlocking the Tax Complexities, 8am-4pm

EOF990

275

350

-30

WSCPA

TAX

ç Sep 26

Today’s Complex Real Estate Transactions (2011) - Like-Kind Exchanges, Distressed Properties, Homeowners, Investors and Developers/Contractors, 8am-4pm

TCRE

275

350

WSCPA

TAX

ç Sep 27

Avoiding Legal Hassles - A Primer for Your Small Business Owners and Wealthy High-Income Clients, 8am-4pm

ALHP

275

350

WSCPA

TAX

Sep 27

The Complete Guide to Payroll Taxes and 1099 Issues, 8am-4pm

CGPT

285

360

WSCPA

TAX

Sep 28

4 Í E CPE in Ethics: A Requirement in Washington State, 8-11:30am

CENRW402

180

215

WSCPA

Ethics

ç Sep 29

AICPA’s Controllership: 25 Critical Lessons form the Trenches, 8am-4pm

CDLT02

275

350

-30

WSCPA

Sep 30

IRAs, Roth IRAs, SIMPLEs and SEPs: Contributions, Rollovers, Distributions, and More, 8am-4pm

IRSS

275

350

-30

WSCPA

TAX

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA September/October 2011

Education and events

Fees Date

CPE Credits

# ç Sep 30

Course

For more details, search by code at www.wscpa.org/cpe

Type

Code

WSCPA NonAICPA Member Member Member Fee Fee Discount

Facility

Subject

Mastering the Applications of Budgeting While Side Stepping the Pitfalls, 8am-4pm

MAPB

275

350

-30

WSCPA

Oct 4

Excel Visual Basic Macros, 8am-4pm

COMEX05

240

315

WSCPA

TEC

ç Oct 4

IFRS vs. US GAAP: The Differences That You Need to Know, 8am-4pm

IUGD

275

350

WSCPA

A&A

Oct 5

Charting with Excel, 8am-4pm

COMEX06

240

315

WSCPA

TEC

Oct 6

Financial Statement Presentation and Disclosure - A Realistic Approach, 8am-4pm

FSPD

275

350

WSCPA

A&A

Oct 7

Audit Efficiency Workshop - A Realistic Approach, 8am-4pm

AEW01

275

350

WSCPA

A&A

Gary Zeune’s Guide to Audits + Compilations + Reviews: What’s new for 2011 Engagements, 8am-4pm

ACR2011

275

350

WSCPA

A&A

ç Oct 10 Oct 10

Applying A-133 to Nonprofit and Governmental Organizations, 8am-4pm

EOOMB

275

350

-30

WSCPA

GNP

Oct 11

Cost Allocation in Nonprofits: Who Gets It?, 8am-4pm

CAMN

275

350

-30

WSCPA

GNP

Oct 11

Gary Zeune’s Guide to Detecting and Preventing Internal Fraud, Theft and Abuse, 8am-4pm

IFTA

275

350

WSCPA

A&A

Oct 12

Oct 17 Oct 17 ç Oct 18 Oct 18

Gary Zeune’s Guide to Controller to CFO: 11 Skills to Make the Trip, 8am-4pm

GCFO

275

350

WSCPA

Analytical Procedures for Nonprofit Organizations, 8am-4pm

EOAPF

275

350

-30

WSCPA

GNP

DATE CHANGE: Getting On Top of It All: The New Science of Increasing Productivity in Yourself and Others, 8am-4pm

GOT

275

350

WSCPA

Running a Non-Profit Like a For-Profit Business, 8am-4pm

RNPO

275

350

-30

WSCPA

GNP

Triple Your Memory and Confidence, and Halve Your Stress, 8am-4pm

TYMC

275

350

WSCPA

Oct 19

Outlook Essentials, 8-11:30am

OUE401

145

180

WSCPA

TEC

Oct 19

Word Essentials, 12:30-4pm

WOE401

145

180

WSCPA

TEC

Oct 20

Advanced Controller and CFO Skills, 8am-4pm

ACCS01

275

350

-30

WSCPA

A&A

Oct 20

Advanced Excel, 8am-4pm

ADE02

275

350

WSCPA

TEC

ç Oct 21

Critical Skills for Creating Great Budgets: Maximizing Profits, People and Power, 8am-4pm

CSCB

275

350

-30

WSCPA

Oct 21

QuickBooks for Accountants, 8am-4pm

QBP02

275

350

WSCPA

TEC

ç Oct 21

Accounting & Auditing Conference, 8am-4:05pm

AAC

285

360

Meydenbauer Center

A&A

Oct 24

Chief Financial Officer: Executive Level Skills for Financial Managers, 8am-4pm

CFO

275

350

WSCPA

Oct 24

Real Estate Accounting and Auditing, 8am-4pm

REAA

275

350

-30

WSCPA

A&A

Oct 25

Performance Analysis: Identifying Profit Improvement Opportunities, 8am-4pm

275

350

WSCPA

A&A

Oct 25

S Corporation Key Issues, Compliance, and Strategies: An IRS Target Area, 8am4pm

SCORP

275

350

-30

WSCPA

TAX

Oct 26-28 Oct 27

AICPA/AHI Staff Training Basic, 8am-4pm

STP1A

665

780

WSCPA

A&A

Oct 27

Oct 28

Form 990: Moving Beyond the Basics, 8am-4pm

AF990

275

350

-30

WSCPA

TAX

Common Frauds and Internal Controls for Revenue, Purchasing and Cash Receipts, 8am-4pm

CFIC02

275

350

-30

Sheraton Bellevue

A&A

Internal Control Deficiencies: Assessment and Reporting Under SAS 115, 8am4pm

ICDAR

275

350

-30

WSCPA

A&A

Oct 31

Advanced Estate Planning: Practical Strategies for Your Clients, 8am-4pm

AEP

275

350

-30

WSCPA

TAX

Oct 31

Accounting Services, Compilations and Reviews: Effective Risk Management, 8am4pm

ASCR

275

350

-30

WSCPA

A&A

Nov 1

Advanced Real Estate Accounting, Auditing & Taxation, 8am-4pm

ARE

275

350

-30

WSCPA

A&A

ç Nov 1

49 Tax-Cutting Moves for Individuals, 8am-4pm

FNTC02

275

350

-30

WSCPA

TAX

AICPA’s Annual Accounting and Auditing Workshop, 8am-4pm

AAUW

475

590

-60

WSCPA

A&A

What You Need to Do Now in Estate Planning Under New Tax Law, 8am-4pm

NLEP

285

360

WSCPA

TAX

Nov 2-3

Nov 2

Nov 3

Small Business Accounting and Auditing Update, 8am-4pm

SBAA02

275

350

-30

WSCPA

A&A

Nov 4

Introduction to QuickBooks for the Accounting Professional, 8am-4pm

COMQB03

240

315

WSCPA

TEC

Nov 4

Washington State Community Property and Estate Tax Law Update, 8am-4pm

WKCP02

275

350

WSCPA

TAX

Nov 7

Construction Contractors: Accounting, Auditing and Tax, 8am-4pm

CAAT01

275

350

-30

WSCPA

A&A

Nov 7-9

AICPA/AHI Staff Training Semi-Senior, 8am-4pm

STP2A

665

780

WSCPA

A&A

Nov 8

Advanced Auditing of HUD-Assisted Projects, 8am-4pm

EOAHUD

275

350

-30

WSCPA

GNP

Nov 9

Advanced Concepts in Estate Planning, 8am-4pm

ACEP

285

360

WSCPA

TAX

Nov 10

Fiduciary Income Tax Returns - Form 1041 Workshop, 8am-4pm

1041

285

360

WSCPA

TAX

WashingtonCPA September/October 2011

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Education and events Fees

Date

CPE Credits

# Nov 10-11 Nov 11

Nov 11

Course

For more details, search by code at www.wscpa.org/cpe

Type

IFRS Essentials with GAAP Comparison: Building a Solid Foundation, 8am-4pm

8 Y

Code

IFRS

WSCPA NonAICPA Member Member Member Fee Fee Discount

475

590

-60

Facility

Subject

WSCPA

A&A

The Complete Guide to the Preparation of Form 1041, 8am-4pm

CG1041

275

350

Meydenbauer Center

TAX

Governmental & Nonprofit Annual Update, 8am-4pm

GNAU02

275

350

-30

WSCPA

GNP

Nov 14

Internal Controls for Small Business Accounting Systems, 8am-4pm

ITCB

275

350

WSCPA

A&A

ç Nov 14

Websites, Software, Tax Quality Control, Engagement, 8am-4pm

WSTQ

275

350

WSCPA

TAX

Nov 15

QuickBooks Advanced Features, Tools, and Techniques, 8am-4pm

ADQ02

275

350

WSCPA

TEC

Nov 15

4 Í E Washington CPA Ethics and New Developments (WA State Requirement), 8-11:30am

CENRW409

180

215

Meydenbauer Center

Ethics

Your 2011 Update on Estate Planning, Health Care Reform, Eldercare, and LongTerm Care Planning, 8am-4pm

UEPE

275

350

WSCPA

TAX

Oct 26

Common Frauds and Internal Controls for Revenue, Purchasing and Cash Receipts, 8am-4pm

CFIC01

275

350

-30

Lakeway Inn & Conference Center

A&A

Oct 28

AICPA’s Hottest Tax Topics for 2011, 8am-4pm

HOT01

275

350

-30

Lakeway Inn & Conference Center

TAX

Nov 2

4 Í E Washington CPA Ethics and New Developments (WA State Requirement), 8-11:30am

CENRW404

180

215

Lakeway Inn & Conference Center

Ethics

Nov 9

LLC and Partnership Taxation: Beyond the Basics, 8am-4pm

NBLLC

275

350

-30

Lakeway Inn & Conference Center

TAX

Sep 29

Basis/Distributions for Pass-Through Entities: An IRS Hot Spot, 8am-4pm

BDPTE01

275

350

-30

Edward D Hansen Conference Center

TAX

Oct 18

Advanced Update for Compilation, Review and Accounting Services, 8am-4pm

RPCR02

275

350

-30

Edward D Hansen Conference Center

A&A

Nov 1

Federal Estate and Gift Tax Returns - Forms 706 and 709 Workshop, 8am-4pm

GIFT

285

360

Edward D Hansen Conference Center

TAX

Nov 2

Small Business Accounting and Auditing Update, 8am-4pm

SBAA01

275

350

-30

Edward D Hansen Conference Center

A&A

Nov 14

Washington B & O and Sales Tax, 8am-4pm

WSTX04

275

350

Edward D Hansen Conference Center

TAX

Nov 1

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

AUAA04

275

350

-30

Hilton Garden Inn TriCities Kennewick

A&A

Nov 3

Federal Tax Update - Individuals (Form 1040), 8am-4pm

FTUI01

275

350

Three Rivers Convention Center

TAX

Nov 4

Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065), 8am-4pm

FTUB01

275

350

Three Rivers Convention Center

TAX

Nov 9

4 Í E CPE in Ethics: A Requirement in Washington State, 8-11:30am

CENRW408

180

215

Hilton Garden Inn TriCities Kennewick

Ethics

CUCS

275

350

Lynnwood Conv Ctr

TAX

ç Nov 15 Bellingham

Everett

Kennewick

Lynnwood ç Sep 28

Choosing, Using and Converting Small Business Tax Entities - Going Beyond Typical Choice of Entity Solutions ( “C,” “S,” LLC, LLP, T-I-C and More), 8am-4pm

Olympia Sep 7

2 S l Federal Healthcare Reform and Your Employer-Sponsored Plan, 12-1pm

CHOM01

Indian Summer Golf

Sep 22

EOYB

275

350

-30

Red Lion Hotel Olympia

GNP

Oct 20

Nov 7

Nov 8 Nov 10 ç Nov 14

The Revised Yellow Book: Government Auditing Standards, 8am-4pm Advanced Update for Compilation, Review and Accounting Services, 8am-4pm

RPCR03

275

350

-30

Red Lion Hotel Olympia

A&A

Social Security, Medicare, and Prescription Drug Retirement Benefits: What Every Boomer Needs to Know, 8am-4pm

SSRB

285

360

Indian Summer Golf

TAX

AICPA’s Hottest Tax Topics for 2010, 8am-4pm

HOT02

275

350

-30

Indian Summer Golf

TAX

The Best Estate and Financial Planning Topics of 2011, 8am-4pm

BEST01

275

350

Red Lion Olympia

TAX

Strategies and Tactics in the New War Against Higher Individual Taxes, 8am-4pm

IWAR02

285

360

Red Lion Olympia

TAX

Seattle Sep 20

2 S l Imperfect Storm: Upcoming Changes in Accounting, 7:30-9:30am

CHSE01

Women’s Univ Club

Sep 26-27 Sep 27

SEC Reporting, 8am-4pm

SECR

475

590

-60

WA State Conv Ctr

A&A

Not-for-Profit Accounting & Reporting: From Start to Finish, 8am-4pm

NPAR

275

350

-30

WA State Conv Ctr

GNP

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA September/October 2011

Education and events

Fees Date

CPE Credits

Course

Code For more details, search by code at www.wscpa.org/cpe

Type

WSCPA NonAICPA Member Member Member Fee Fee Discount

Facility

Subject

Oct 17

RPCR01

275

350

-30

WA State Conv Ctr

A&A

Oct 18

2 S l Social Engineering and the Cold Call, 7:30-9:30am

CHSE03

Women’s Univ Club

TEC

Oct 19

Advanced Forensic Techniques for Accountants, 8am-4pm

AFTA

275

350

-30

Washington State Convention Center

A&A

Oct 20

International versus U.S. Accounting: What in the World is the Difference?, 8am4pm

IUSA

275

350

-30

WA State Conv Ctr

A&A

Oct 24

Mergers, Acquisitions, and Sales of Closely Held Businesses: Advanced Case Analysis, 8am-4pm

PSAS

275

350

-30

WA State Conv Ctr

TAX

Scavenger Hunt- New Professionals Networking Event, 6-8:30pm

NP05

Hard Rock Cafe

Audit Work Papers: Documenting and Reviewing Field Work, 8am-4pm

ATDR

275

350

-30

Conference Center - at Convention Place

A&A

Advanced Update for Compilation, Review and Accounting Services, 8am-4pm

Oct 27

Nov 4

ç Nov 7-9

u S

Pacific Tax Institute, 8am-4:30pm

PTI

775

850

Bell Harbor International Conf Center

TAX

ç Nov 7

u S

Pacific Tax Institute-11/7/11 only, 8am-4:30pm

PTI2

380

455

Bell Harbor International Conf Center

TAX

ç Nov 8

Advanced Selected Issues for Trusts, Estates, and Their Beneficiaries, 8am-4pm

ITEB

285

360

Conference Center - at Convention Place

TAX

ç Nov 8

u S

Pacific Tax Institute-11/8/11 only, 8am-4:30pm

PTI3

380

455

Bell Harbor International Conf Center

TAX

Nov 9

Studies on Single Audit and Yellow Book Deficiencies, 8am-4pm

SAYB

275

350

-30

Conference Center - at Convention Place

GNP

Nov 10-11

Pacific NW Construction Industry Conference, 8am-4:30pm

CIC

525

600

Bell Harbor International Conf Center

Nov 16

Bowling- New Professionals Networking Event, 6-9pm

NP07

The Garage

Southcenter (Tukwila) Nov 14

Variable Interest Entity Consolidation Rules: Not Just a Big Company Issue!, 8am4pm

VIE

275

350

-30

DoubleTree Guest Suites Southcenter

A&A

Nov 15

AICPA’s Annual Update: Top 10 GAAP Issues Facing CPAs, 8am-4pm

TTGP

275

350

-30

DoubleTree Guest Suites Southcenter

A&A

Spokane Sep 13

Happy Hour Networking Event, 5-7pm

NP11

Steam Plant Grill

Sep 21

Accounting for Income Taxes: Applying SFAS No. 109/FIN 48: A Whole New Ballgame!, 8am-4pm

AIT02

275

350

-30

Hampton Inn Spokane

A&A

Sep 22

Internal Control Essentials for Financial Managers, Accountants, and Auditors, 8am-4pm

ICDAD01

275

350

-30

Hampton Inn Spokane

A&A

ç Sep 28

AICPA’s Controllership: 25 Critical Lessons form the Trenches, 8am-4pm

CDLT01

275

350

-30

Hampton Inn Spokane

Oct 11

Happy Hour Networking Event, 5-7pm

NP12

Steam Plant Grill

Oct 18

Cash and Tax Basis Financial Statements Preparation and Reporting, 8am-4pm

CTB01

275

350

-30

Hampton Inn Spokane

A&A

Oct 20

Casino Night - Networking Event, 6-9pm

NP06

Hampton Inn Spokane

Oct 24

Washington B & O and Sales Tax, 8am-4pm

WSTX03

275

350

Hampton Inn Spokane

TAX

Oct 26

Form 1041: Income Taxation of Estates and Trusts, 8am-4pm

ITET

275

350

-30

Hampton Inn Spokane

TAX

ç Oct 27

49 Tax-Cutting Moves for Individuals, 8am-4pm

FNTC01

275

350

-30

Hampton Inn Spokane

TAX

Oct 31

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

AUAA03

275

350

-30

Hampton Inn Spokane

A&A

Nov 3

Washington State Community Property and Estate Tax Law Update, 8am-4pm

WKCP01

275

350

Hampton Inn Spokane

TAX

Nov 7

4 Í E CPE in Ethics: A Requirement in Washington State, 8-11:30am

CENRW406

180

215

Hampton Inn Spokane

Ethics

Nov 8

Happy Hour Networking Event, 5-7pm

NP13

Steam Plant Grill

Nov 10

Governmental & Nonprofit Annual Update, 8am-4pm

GNAU01

275

350

-30

Hampton Inn Spokane

GNP

Nov 11

GAAP Update and Review for Small and Medium-Sized Entities (SMEs) by Walter Haig, 8am-4pm

GURSME04

305

380

Hampton Inn Spokane

A&A

ç Nov 15

The Top Ten Fraud Schemes: How to Detect and Prevent Them, 8am-4pm

TMCF01

275

350

-30

Hampton Inn Spokane

A&A

Sep 23

Internal Control Essentials for Financial Managers, Accountants, and Auditors, 8am-4pm

ICDAD02

275

350

-30

Pacific Grill Ev Ctr

A&A

ç Sep 26

LLC Practitioner’s Workshop: A Case Studies Approach, 8am-4pm

LWRK

285

360

Pacific Grill Ev Ctr

CENRW403

180

215

Pacific Grill Ev Ctr

Ethics

S Y

Tacoma

Oct 11

4 Í E CPE in Ethics: A Requirement in Washington State, 8-11:30am

WashingtonCPA September/October 2011

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Education and events Fees

Date

CPE Credits

Course

Code For more details, search by code at www.wscpa.org/cpe

Type

WSCPA NonAICPA Member Member Member Fee Fee Discount

Facility

Subject

Oct 19

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

AUAA01

275

350

-30

Pacific Grill Ev Ctr

A&A

Oct 21

FASB Review for Industry, 8am-4pm

FASBI01

275

350

-30

Pacific Grill Ev Ctr

A&A

Oct 25

Cash and Tax Basis Financial Statements Preparation and Reporting, 8am-4pm

CTB02

275

350

-30

Pacific Grill Ev Ctr

A&A

Nov 8

Construction Contractors: Accounting, Auditing and Tax, 8am-4pm

CAAT02

275

350

-30

Pacific Grill Ev Ctr

A&A

Nov 15

Choosing the Best Entity Structure Under the New Tax Law in 2011, 8am-4pm

CBES02

285

360

Pacific Grill Ev Ctr

TAX

ç Nov 16

Complex 1040 Planning, Strategies and Solutions (Schedules A, C, D, E and Much More!), 8am-4pm

CPSS

275

350

Pacific Grill Ev Ctr

TAX

Oct 18

Forensic Accounting: Fraudulent Reporting and Concealed Assets, 8am-4pm

FAFR

275

350

-30

Red Lion at Quay

A&A

Oct 21

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

AUAA02

275

350

-30

Red Lion at Quay

A&A

Nov 7

4 Í E Washington CPA Ethics and New Developments (WA State Requirement), 8-11:30am

CENRW405

180

215

Red Lion at Quay

Ethics

Nov 8

4 Í E CPE in Ethics: A Requirement in Washington State, 8-11:30am

CENRW407

180

215

Red Lion Wenatchee

Ethics

Nov 9

Closely Held Business Taxation: 49 Practical Ways to Cut Taxes, 8am-4pm

CHBT

275

350

-30

Red Lion Wenatchee

TAX

Nov 10

Taxation Essentials of LLCs, LLPs, LPs and Other Partnerships, 8am-4pm

TLLLO01

275

350

-30

Red Lion Wenatchee

TAX

Vancouver

Wenatchee

Webcasts and Webinars - Your Desk ç Sep 1

WEBCAST: Implementing the Right Business Technology - Where to Best Spend Your Money, 7am-3pm

WEB330

255

295

Webcast

Sep 1

WEBINAR: Adobe Acrobat Forms, 11am-1pm

WNR171

Webinar

TEC

Sep 1

WEBINAR: XBRL Level 1 - The Next Evolution in Financial Reporting, 8-10am

WNR172

Webinar

TEC

Sep 2

4 Í E WEBCAST: Washington CPA Ethics and New Developments (A WA Requirement), 8-11:30am. Also offered Oct 3, Oct 22, Nov 15 and Dec 28.

WEB261

159

189

Webcast

Ethics

ç Sep 6

WEBCAST: Research and Development Tax Credits: Do You Know the Tax Savings These Create?, 8-11am. Also offered Oct 12, Nov 5, Nov 14, Dec 12 and Dec 14.

WEB262

129

Webcast

TAX

Sep 6

WEBCAST - EVENING: High Road Corporate Governance from the Inside Out The CFO and Controller’s Toll Kit Part 1, 6-9pm. Also offered Sep 10, Sep 16, Oct 6.

SWEB11

129

Webcast

Sep 6

WEBCAST - EVENING: Change Management: Making Improvement Happen, 6-8pm. Also offered Oct 18, Nov 19 and Nov 30.

SWEB32

109

Webcast

Sep 6

WEBCAST - EVENING: The CFO’s Role in Banking and Financing, 7-9pm Also offered Nov 30.

SWEB39

109

Webcast

ç Sep 7

WEBCAST: Strategic Planning for SMEs: Moving from Ideas to Action, 8-11:30am. Also offered Oct 11.

WEB331

129

159

Webcast

WEBINAR: The Goal of the Audit, 7-8:40am

WNR04

Webinar

WEBCAST: Banking Financial and Compliance Update Series 2011 - Third Quarter, 8-11:30am. Also offered Oct 13.

WEB332

129

159

Webcast

Sep 7

ç Sep 8

TOPIC CHANGE: WEBCAST: Best Enhancements in Excel 2007/2010, 11am-1pm

WEB52

Webcast

TEC

Sep 8

WEBINAR: Excel - Beginner Tips, Tricks & Techniques, 8-10am

WNR173

Webinar

TEC

ç Sep 8

WEBINAR: Excel - Advanced Tips, Tricks & Techniques, 11am-1pm

WNR174

Webinar

TEC

ç Sep 9

WEBCAST: SSARS 19 Compilation, 6:30-10am. Also offered Sep 9 and Oct 10.

WEB333

129

159

Webcast

A&A

ç Sep 9

WEBINAR: iPad Part 1 - What You Need to Know, 8-10am

WNR175

Webinar

TEC

ç Sep 9

WEBINAR: iPad Part 2 - Doubling the Value of Your iPad, 11am-1pm

WNR176

Webinar

TEC

WEBCAST - SATURDAY: The High Road Approach to Difficult Conversations: How to Face and Grow from Them, 12-2pm. Also offered Sep 24, Sep 28 and Oct 7.

SWEB20

109

Webcast

Sep 10

ç Sep 12

WEBCAST: Financial Statement Fraud Not Just Wall Street’s Problem, 8am-4pm. Also offered Oct 3, Nov 1, and Dec 19.

WEB269

235

265

Webcast

ç Sep 13

WEBINAR: Estate Planning and Administration After 2010, 11am-1pm

WNR177

Webinar

PFP

Sep 14

WEBCAST: Accounts Receivable Management - “Part 1 of 6 of the Technical Controllers Series,” 8-11am. Also offered Oct 17, Nov 7, and Dec 13.

WEB287

129

Webcast

ç Sep 14

WEBCAST: Managing the Accounting Function So You Become Invaluable “Part 2 of 6 in the Technical Controller Series,” 11:30am-1:30pm. Also offered Oct 17, Nov 3, and Dec 13.

WEB293

109

Webcast

Sep 14

WEBCAST: Getting Stuff Done When You Don’t Own the Company - “Part 3 of 6 in the Technical Controllers Series,” 2-5pm. Also offered Oct 17, Nov 7, and Dec 13.

WEB300

129

Webcast

Sep 14

WEBCAST - EVENING: Lean Accounting, 6-8pm

SWEB49

109

Webcast

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA September/October 2011

Education and events

Fees Date

CPE Credits

Course

Code For more details, search by code at www.wscpa.org/cpe

Type

WSCPA NonAICPA Member Member Member Fee Fee Discount

Facility

Subject

ç Sep 14

WEBINAR: Outlook Part 1 - E-mail Management Tips & Techniques (Basic), 8-10am

WNR179

Webinar

TEC

ç Sep 14

WEBINAR: Outlook Part 2 - E-mail Management Tips & Techniques (Advanced), 11am-1pm

WNR180

Webinar

TEC

ç Sep 15

WEBCAST: It’s ALL in the Process! How to Generate Productivity and Breakthrough Improvements “Part 4 of 6 in the Technical Controller Series,” 8-11am. Also offered Oct 18, Nov 8, and Dec 14.

WEB307

129

Webcast

ç Sep 15

WEBCAST: Setting the RIGHT Tone! A Finance Leader’s Best Tool for Employee Engagement “Part 5 of 6 in the Technical Controllers Series,” 11:30am-1:30pm. Also offered Oct 18, Nov 8, Dec 14.

WEB314

109

Webcast

ç Sep 15

WEBCAST: Money Talks! Presenting Financial Concepts with Ease “Part 6 of 6 in the Technical Controllers Series,” 2-5pm. Also offered Oct 18, Nov 8 and Dec 14.

WEB320

129

Webcast

Sep 15

WEBINAR: Excel - Best Unknown Features for Accountants, 8-10am

WNR181

Webinar

TEC

ç Sep 15

WEBINAR: Security Tools - Up Close and Personal, 11am-1pm

WNR182

Webinar

TEC

Sep 16

WEBCAST: Budgeting Wars Prevention: How to Ensure Accountability Exists in Your Budget Process, 8-10am. Also offered Oct 6.

WEB335

109

Webcast

Sep 16

WEBCAST: Governance-Enhancing Risk Management: Setting the Right Balance Innovation and Controls, 11am-1pm. Also offered Oct 6.

WEB336

109

Webcast

ç Sep 16

WEBCAST: Tax Planning Strategies with Defined Benefit Plans, 9am-12:45pm. Also offered Oct 19, Nov 4, Dec 2 and Dec 7.

WEB360

129

159

Webcast

TAX

ç Sep 16

WEBINAR: Best Options for Backup, 8-10am

WNR183

Webinar

TEC

Sep 19

WEBCAST: Internal Control:Your Number-One Defense Against Errors and Fraud, 8:30am-4:30pm

WEB53

255

295

Webcast

A&A

Sep 19

WEBINAR: Adobe Acrobat for Accountants I - Basic Features & Functions, 8-10am

WNR184

Webinar

TEC

Sep 19

WEBINAR: Adobe Acrobat for Accountants II - Advanced Features & Functions, 11am-1pm

WNR185

Webinar

TEC

Sep 20

WEBCAST: Auditing: Practical Application of Current Standards, 8:30am-4pm. Also offered Nov 29.

WEB54

255

295

Webcast

A&A

ç Sep 20

WEBINAR: 2011 Year-End Tax Planning - Thinking Outside the Box, 8-10am

WNR186

Webinar

TAX

Sep 21

WEBINAR: Setting Your Staff up for Success for the Audit, 7-8:40am

WNR05

Webinar

Sep 22

WEBCAST: Common Interest Realty Associations Conference, 8:30am-4:30pm

WEB56

255

295

Webcast

Sep 22

TOPIC CHANGE: WEBCAST: Managing External Data and How to Get the Most Out Of Subtotals, 11am-1pm

WEB55

Webcast

TEC

ç Sep 22

WEBINAR: 2011 IRS Tax Update, 8-10am

WNR187

Webinar

TAX

Sep 23

WEBCAST: Introduction to XBRL and New Opportunities for CPAs, 8:30am4:30pm

WEB57

255

295

Webcast

TEC

Sep 24

WEBCAST - SATURDAY EVENING: High Road Leadership Strategies for Eliminating Silos, Bureaucracy or Turf Wars in Your Culture, 7-9pm. Also offered Sep 28, and Oct 7.

SWEB17

109

Webcast

Sep 26

WEBCAST: Fraud in the Governmental and Not-For-Profit Environments: What a Steal!, 8:30am-4pm

WEB58

255

295

Webcast

GNP

Sep 27

WEBCAST: Advanced Auditing of HUD-Assisted Projects, 8:30am-4pm

WEB59

255

295

Webcast

GNP

Sep 27

WEBINAR: Auditing & Fraud Technology Tools, 8-10am

WNR188

Webinar

TEC

Sep 28

WEBCAST - EVENING: The CFO’s Role in Operational Control, 7-9pm Also offered Oct 18.

SWEB44

109

Webcast

Sep 28

WEBCAST: Myths of Budgeting and How to Overcome Them, 1-4:30pm. Also offered Oct 7.

WEB340

129

Webcast

Sep 28

WEBCAST: Financial Statement Preparation for Your QuickBooks Clients, 8:30am4:30pm

WEB60

255

295

Webcast

TEC

ç Sep 28

WEBINAR: Windows 7 - Tips & Techniques, 11am-1pm

WNR189

Webinar

TEC

Sep 28

WEBINAR: The Pros and Cons of E-mail Use During an Audit, 7-8:40am

WNR06

Webinar

ç Sep 29

WEBINAR: Excel - The Business Analytics Tool, 8-10am

WNR190

Webinar

TEC

ç Sep 29

WEBINAR: Social Networking - Essentials for Business, 11am-1pm

WNR191

Webinar

TEC

Sep 30

WEBCAST: Washington B & O and Sales Tax, 8am-4pm. Also offered Dec 1.

WEB265

235

265

Webcast

TAX

ç Sep 30

WEBINAR: Client Portals - How to Develop A Strategic Model, 11am-1pm

WNR192

Webinar

TEC

ç Sep 30

WEBINAR: Outlook Part 3 - Calendar & Contact Management Tips & Techniques, 8-10am

WNR193

Webinar

TEC

WashingtonCPA September/October 2011

Networking Event | S Season Ticket and Coupons N/A

www.wscpa.org

Education and events Fees

Date

CPE Credits

Course

Code For more details, search by code at www.wscpa.org/cpe

WSCPA NonAICPA Member Member Member Fee Fee Discount

Facility

Subject

Type

Oct 4

WEBCAST: Financial Statement Analysis from an Operational Perspective, 3-5pm

WEB341

109

Webcast

A&A

Oct 5

WEBINAR: Technology - A Blessing or a Curse During the Audit?, 7-8:40am

WNR07

Webinar

TEC

Oct 6

TOPIC CHANGE: WEBCAST: Understanding Data at a Glance with Conditional Formatting and IF Statement, 11am-1pm

WEB61

Webcast

TEC

Oct 11

WEBCAST: Enterprise Risk Management for SMEs - Risk Plays No Favorites, 7-10:30am. Also offered Dec 16.

WEB350

129

159

Webcast

Oct 14

WEBCAST: Realistic Approach to An Audit: The Use of Substantive Procedures in an Audit in Accordance with Generally Accepted Auditing Standards, 12-2pm

WEB353

109

Webcast

A&A

Oct 18

WEBCAST: FASB Update, 8:30am-4:30pm

WEB62

255

295

Webcast

A&A

Oct 19

WEBINAR: The Characteristics of an Auditor, 7-8:40am

WNR08

Webinar

A&A

Oct 20

TOPIC CHANGE: WEBCAST: Hyperlinks, Data Validation and Nested IF Statements, 11am-1pm

WEB63

Webcast

TEC

ç Oct 21

WEBCAST: Accounting & Auditing Conference, 8am-4:05pm

WEBAAC

185

260

Webcast

A&A

Oct 21

WEBCAST: CPA Firm Best Practices Conference, 8:30am-4:30pm

WEB64

255

295

Webcast

Oct 22

WEBCAST - SATURDAY: A133 Audits - What Do I Need to Know? An Auditor’s Perspective for Auditors, 11am-2:30pm. Also offered Nov 1, Nov 3, Dec 5, Dec 9.

SWEB04

129

159

Webcast

A&A

Oct 22

WEBCAST - SATURDAY: A133 Audits - How Can I Do It Better? An Auditor’s Perspective for Auditors and Auditees, 10am-1:30pm. Also offered Nov 1, Nov 3, Dec 5, and Dec 9.

SWEB09

129

159

Webcast

A&A

Oct 22

WEBCAST - SATURDAY: Yellow Book Audits: What is Different About Yellow Book Audits? 11am-2:30pm. Also offered Nov 3, Dec 5, and Dec 9.

SWEB355

129

159

Webcast

A&A

Oct 25

WEBCAST: Investing in Turbulent Times, 8:30am-4pm

WEB65

255

295

Webcast

ç Oct 26

WEBCAST: Meeting XBRL Mandates: Providing XBRL Services to Clients, 8:30am4:30pm

WEB66

255

295

Webcast

TEC

Oct 26

WEBINAR: Total Client Service - Did You Deliver All of Your Services, or Just the Audit?, 7-8:40am

WNR09

Webinar

Oct 27

WEBCAST: Deal Structure for Mergers and Acquisitions Transactions, 8:30am4:30pm

WEB67

255

295

Webcast

TAX

Oct 28

WEBCAST: Financial Statement Disclosures for the Tax Practitioner, 8:30am4:30pm

WEB68

255

295

Webcast

A&A

Oct 28

WEBCAST: Convergence 2011-Reformatted Financial Statements: The Times They They Are a Changing!, 8:30am-4:30pm. Also offered Dec 5.

WEB69

255

295

Webcast

A&A

Oct 31

WEBCAST: Federal Taxation of Partnerships and LLCs Part II: Sales, Bequests, Redemptions and Liquidations, 8:30am-4:30pm

WEB70

255

295

Webcast

TAX

Nov 1

WEBCAST: Federal Tax Update-Individuals (Form 1040), 8:30am-4:30pm

WEB71

255

295

Webcast

TAX

Nov 2

WEBCAST: Federal Tax Update-C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065), 8:30am-4:30pm

WEB73

255

295

Webcast

TAX

ç Nov 2

TOPIC CHANGE: WEBCAST: Working with Your QuickBooks Clients, 11am-1pm

WEB72

Webcast

TEC

Nov 3

WEBCAST: GST Tax From A to Z, 8:30am-4:30pm

WEB74

255

295

Webcast

TAX

Nov 4

WEBCAST: Family Law Conference, 8:30am-4:30pm

WEB75

255

295

Webcast

Nov 7

WEBCAST: FIN 48--Accounting for Uncertain Tax Positions, 8:30am-4:30pm

WEB76

255

295

Webcast

A&A

Nov 8

WEBCAST: IFRS and Financial Reporting, 8:30am-4:30pm

WEB77

255

295

Webcast

A&A

Nov 9

WEBCAST: Real Estate Conference, 8:30am-4:30pm

WEB78

255

295

Webcast

Nov 10

WEBCAST: Dealing with Venture Capitalists, 8:30am-4pm

WEB80

255

295

Webcast

Nov 10

WEBCAST: Introduction to International Taxation, 8:30am-4:30pm

WEB79

255

295

Webcast

TAX

Nov 11

WEBCAST: Tax Aspects of Bankruptcy: All Need Not Be Lost, 8:30am-4:30pm

WEB81

255

295

Webcast

TAX

Nov 14

WEBCAST: Partnership and LLC Taxation: Advanced Issues, Including Transfers of Interests and Liquidations, 8:30am-4pm

WEB82

255

295

Webcast

TAX

Nov 15

WEBCAST: Employment Practices Conference, 8:30am-4:30pm

WEB83

255

295

Webcast

Need help finding a seminar, conference or webcast? Call the WSCPA at (800) 272-8273 or (425) 644-4800. To view the complete schedule of events, go to www.wscpa.org/CPE/catalog. The same high quality materials and speakers featured in many WSCPA conferences and seminars are available for CPE events for your firm. To learn more about WSCPA In-house Training, call (800) 272-8273 or (425) 644-4800 or e-mail ct@wscpa.org. ç New |  non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event |

www.wscpa.org

Networking Event | S Season Ticket and Coupons N/A

WashingtonCPA September/October 2011

Registration

Questions? E-mail cpe@wscpa.org or call (425) 644-4800 or (800) 272-8273 (toll-free in Washington).

Code

Title

Date

City

Fee1

WSCPA CPE policies apply to all programs in the CPE Digest. Review the CPE policies at www.wscpa.org.

WashingtonCPA September/October 2011

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Detailed advertising information is available online at www.wscpa.org. Classified Ads are $1 per word, $40 minimum. Active e-mail and web site addresses count as two words and are $10 additional each. Positions available ads are for magazine placement only. To post a job listing, visit the Career Center at www.wscpa.org. Contact Sharon Olene-Marander at (425) 586-1138, (800) 272-8273,Ext.1138,or classifieds@wscpa.org for more information. All ads must be pre-paid. See these and any new listings on our website under Newsroom. The submission deadline for the November/December 2011 issue is September 23, 2011. POSITIONS AVAILABLE Established Bellingham CPA firm is seeking experienced auditor to join our team of professionals. 5+ years of audit experience required. Collaborative working environment, excellent advancement opportunities and salary and benefits package.Submit resume and cover letter to Varner Sytsma & Herndon, CPA’s, 2200 Rimland Drive, Suite 205, Bellingham,WA 98226, Attn: H/R Established Bellingham CPA firm is seeking experienced CPA to join our team of professionals. 3+ years of tax experience required.Collaborative working environment,excellent advancement opportunities and salary and benefits package. Submit resume and cover letter toVarner Sytsma & Herndon,CPA’s,2200 Rimland Drive, Suite 205, Bellingham,WA 98226,Attn: H/R OFFICE SPACE Fast growing East Vancouver location. Class A Office Space available for CPA practioner & staff. Built in 2008 Full service. Successful Financial Advisory Practice located in space. Contact Dan Foster at (360) 883-2623 ext. 101 or dan.h.fostercpa@ampf.com. Bellevue Offices. AV Bus/EP law firm has offices for small firm or solo practitioners. Great for startup! Relaxed park-like setting near DT Bellevue. Receptionist, copier/scanner/shredding, conf/seminar rooms, tax library, kitchen, shower + FREE PARKING for tenants/ clients, and with easy in & out + freeway access (I-405, I-90 & 520). George (425) 990-1572 or g.smith@ smithzuccarini.com. Federal Way Business district newly remodeled, partially furnished professional office building. 2-3 offices plus conference room and reception/ secretarial station. Parking, kitchen, fax, copier, internet, utilities. Contact Eileen at (206) 399-2046 or emsfw@earthlink.net. SITUATIONS WANTED Barron’s Top Financial Planning firm seeking professional partnership with CPA firm. We increasingly find the need to network with other professionals.We have many ways to work together in mutually beneficial relationship. 425.228.1000 (Kevin) or kevin.a.nanthrup@ampf.com – www. randallslinde.com. MERGERS & SALES North Seattle CPA tax practice for sale.Average fee approx.$250.All or part.Most are long term and loyal. Cash or contingent.Must have experience preparing tax returns. Respond to CPA1752@gmail.com.

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CPA looking for $150,000-$250,000 size practice to purchase in the Bellingham area. Cash purchase. Please respond to Tom by phone, (707) 545-0701 or email, TJTCPA@aol.com. Tax Clients Available: Seeking CPAs who can accept new tax clients. Most clients are in Kent, Auburn, Federal Way, etc. Some are in Seattle. Mostly 1040s with scheduleAs and Cs. Long history of loyalty and stability. Call Bob 206-575-0806, or email bob@bearcreekfinancial.com. Everett/Bellevue Firm Looking for King and Snohomish County CPA firm and/or Registered Investment Advisory Company to purchase. We are the second largest CPA firm in downtown Everett, manage $135m and are looking to purchase another firm. Our client base is as broad as the services we offer, as we cater to individuals and small business. Please contact the owner,Brian Evans at 425-252-6909 or email to brian@ bauerevans.com. You can review our websites at www. bauerevans.com and www.bondstreetwealth.com. Considering Selling Your Practice? Consider all your options.We do the work. Confidential.We have buyers actively seeking practices. Call Mark Hause at 877-345-7722 or visit our website at www.accountingpracticesales.com. Accounting Practice Sales. We make dreams happen! IBA Sells Privately Held Companies. Do you represent a client who is ready to retire or has taken a company as far as they want to or can? IBA is the Pacific Northwest’s oldest business brokerage (M&A) firm.We are professional negotiators with over 4000 completed transactions. Please contact us if we can be of assistance at (800) 218-4422 or www.ibainc.com. PRACTICES FOR SALE Contact Mark Hause at Accounting Practice Sales by e-mail at MARKHAUSE@CONTACTAPS.COM or call 877-345-7722 for more information on the following practices: Anacortes CPA Firm for Sale: This CPA firm is a traditional CPA firm with income tax, writeup, along with financial services to round out the practice.The firm revenue mix breaks out 76% tax, 18% write-up, and 6% financial services.The buyer will have the opportunity to retain the current office location indefinitely as the Seller owns the building. With a loyal client base and good fees,this firm offers opportunity to a firm looking to expand or a CPA wanting to be on their own. Bellingham CPA Firm for Sale: This CPA firm is a tax and write-up practice that focuses on small business. As a result, the firm predominantly renders tax and write-up services for a loyal group of clients who are accustomed to paying market rate fees along with being a strong referral source. The revenue dollars grossed by the firm break out 65% income tax and 33% write-up services and 2% for a small amount of compilation and review services. The client work load is continuous through the year with the normal increase in tax filing periods providing for a balanced workload and revenue stream. This practice has an excellent staff which further enhances the opportunity this firm provides for an

accountant or firm looking for a quality practice to make their own. Everett Franchise Tax Practice for Sale: The Seller is offering the opportunity to acquire a quality retail tax franchise business. The business has a solid track record with two locations and two territories. The locations are firmly established with existing clients and benefit from national brand name, national name recognition and excellent support. This business offers a significant investment opportunity and can be operated with little owner involvement. EverettTax Practice(s) for Sale: The owner of this tax practice has three locations in Everett and a client count of approx. 900 individual tax returns. The practice resembles a national tax franchise which for several years was the case but is no longer affiliated with that organization. What remains are good locations with leases in place for two locations and/ or understandings for next tax year for the third location.This practice would be an excellent addition to any firm or business with designs on expanding or with excess capacity. The best news is that the owner will consider any reasonable offer for this business with significant upside potential. Spokane CPA Firm for Sale: This well rounded CPA firm renders professional services in the areas of write-up,income tax,compilation(s),review(s),and auditing. The firm has long term relationships with most of the clients while continuing to accept new business which fuels the continuing growth of the practice. The practice has a variety of clients in all industries but does serve a number of non-profit entities in a variety of capacities.The owner seeks to retire but would be available for transition to the new owner through tax season. This practice is primed for a new owner and continued prosperity. Volunteer Positions The following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters. Learn more at www.wscpa.org (enter volunteer positions in the search box). ArtsEd Washington Citizens for Off-Leash Areas - New Congress for the New Urbanism – Cascadia Emergency Feeding Program - New Families for Effective Autism Treatment Hearing Speech and Deafness Center (HSDC) Helping Link - New Horizon House Northeast Washington Education Council Relief and Education for Afghan Children - New Save Black Diamond - New The Swedish Finn Historical Society The Parkinson’s Project - New Transitional Resources - New Washington Women in Need - New

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WashingtonCPA September/October 2011

Periodicals postage paid at Bellevue WA and additional mailing offices

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New Professional

Networking Events

sponsorS Premier Partners

Puget Sound Events Sep 15

Trivia Night, Rock Bottom Brewery, Bellevue (NP04)

Oct 27 Nov 16

Scavenger Hunt, Hard Rock Cafe, Seattle (NP05) Bowling, Garage, Seattle (NP07)

Complimentary - Space is limited. Register now!

Key Partners

SPOKANE Event Oct 20

Casino Night, Hampton Inn, Spokane (NP06)

Learn more & REgister:

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FEES: $20-$30 per event sponsorS

Thank you to the sponsors listed at right.

South King County Chapter

Happy Hours - All members invited! 5-7 pm, 2nd Tuesdays At Spokane’s Steam Plant Grill and various Puget Sound locations. Find details at www.wscpa.org/CPE/catalog (enter “HH” in keyword search box).