WashingtonCPA 2014 Fall by Washington Society of CPAs

washington

CPA Fall 2014

Volume 57, Number 2

Serving on Nonprofit Boards

Biggest Myths About Affordable Care Act Strategies in 2014 Knowing What It Takes to Make Partner Implementing an Effective Corporate Ethics Policy

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WashingtonCPA Fall 2014

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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 Heather L. Fitzpatrick Chair William A. Simer Vice Chair David J. Miniken Treasurer Lucy L. Liu Secretary Glenn G. Wisegarver Immediate Past Chair Richard E. Jones President & CEO

Laurie J. Anderson Marinilka B. Kimbro Thomas G. Donaghy Amanda V. O’Rourke Kirsten S. Duke Andrew L. Read Dean A. Granholm Abby M. Sanders Robert L. Grannum Joseph P. Smith Robert W. Heller CHAPTER BOARD CHAIRS Craig S. Connell Bellevue Area Alex R. King Central Molly Vander Woude Central Northwest Diane Bingaman Olympia Michael T. Enos Sammamish Valley Rachel T. Sites Snohomish County Dani L. Espinda South King County David P. Stubing Southwest Robert S. Plumb Spokane Sean P. Kinney Yakima

Jeanette Kebede

Contents 5

Some of the Best Leadership Training is Free

Volunteering for Board Positions: Before You Get Started

So You Want to Join a Non-Profit Board? A Look at Legal Considerations

Editor

The WashingtonCPA is published by the Washington Society of Certified Public Accountants for its members. Views and opinions appearing in this publication are not necessarily endorsed by the WSCPA. The products and services advertised in The Washington CPA have not been reviewed or endorsed by the Washington Society of Certified Public Accountants, its board of directors or staff. The WashingtonCPA (USPS 009754) is published four times annually by the Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue, WA 98005-3480. $12 of members’ annual dues goes toward a subscription to The WashingtonCPA. Periodicals postage paid at Bellevue, Washington and additional mailing offices.

11 Congratulations: You’re the Board Treasurer! 21 7 Biggest Myths About Affordable Care Act Strategies in 2014 25 Knowing What It Takes to Make Partner 27 Implementing an Effective Corporate Ethics Policy

Cover photo: © Veer/Mitch Spearman POSTMASTER: Send address changes to The WashingtonCPA, c/o WSCPA, 902 140th Avenue NE, Bellevue, WA 98005-3480.

DEPARTMENTS 4

Leadership Lens

CPE Digest

News Briefs

Registration Form

24 Advocacy

Classified Ads

30 Foundation

Member Viewpoint

31 Events

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WashingtonCPA Fall 2014

LEADERSHIP LENS

Relationships Make the World Go Round By Rich Jones, CPA, CGMA, President & CEO

s I reflected on the past week at work, I realized the number of opportunities I had this week to interact with friends and colleagues, people with whom I had established relationships of different types and of varying duration. I think building relationships with others is one of the most satisfying experiences in life. Here are a few examples just from this week: •

•

I received an email from a man I hired out of college about 20 years ago. We worked together for a few years until he decided to take a job in industry. Eventually he left that job to pursue his true lifetime ambition—to be a pilot who fights forest fires, which he does today in another state. We had not stayed in close contact but did exchange emails every few years. He needed a referral for a tax accountant for a family member. To whom did I refer him? A former colleague who is a partner at a small firm in Bellevue—someone I trust because of our relationship. One of my former clients is in the executive search business. He recently obtained the engagement to find a COO for one of the national organizations focused on providing opportunities in accounting for underrepresented minorities. He reached out to me to see what I knew about this organization. Fortunately, the Immediate Past Chair of AICPA, who is heavily involved with diversity and inclusion initiatives at AICPA and at his national firm, and I had talked recently about this particular organization. He and my friend have connected,

WashingtonCPA Fall 2014

In my mind, relationships truly are like wine. The really great ones take time to develop, be tested, and mature. However, all relationships begin from almost nothing, so it is important to continually add new relationships and nurture existing ones.

•

to the benefit of both of them and the organization involved. Over the past several years I have become increasingly involved with Peer Review, both locally and nationally. This week two of the Society’s Peer Review leaders taught accounting and auditing in our facility and we had other members in attendance who I know from the Peer Review program. It was nice to have a chance to interact with them. These are all good relationships that have developed over just the past several years. At a lunch meeting I ran into three members who I know well who now work at Clark Nuber. We had all previously worked together. It was great to see old friends.

These are just some of the interactions I had this week with members and others with whom I have developed meaningful relationships. Many of these relationships are fairly new. However, some of these relationships developed over many years, such as the relationship I have with Loretta Doon, my counterpart at the California Society of CPAs.We worked together for a few years more than 40 years ago in California; however, we had not been in contact for more than 25 years. Then, within a few weeks of each other, we both became CEOs of our state societies. Based on the strong and trusting relationship we developed many years earlier, we were able to enter into a novel CPE webcast revenue-sharing agreement that has significantly benefitted both organizations.The key to this success was the trusting relationship built decades earlier. In my mind, relationships truly are like wine. The really great ones take time to develop, be tested, and mature. However, all relationships begin from almost nothing, so it is important to continually add new relationships and nurture existing ones. CPAs, whether in public practice or industry, have an incredible opportunity to create relationships that will enhance their lives forever. For those CPAs in public practice, think about the influence you have with your clients and how that trusting relationship grows over time. For those CPAs who work in business, industry, government, nonprofits, etc., think about how many people you come into contact with in the course of your daily work. Many of those people will go other places or do different things in the future. Having a meaningful relationship with them may be very helpful to both of you in the future. When we meet with legislators to discuss issues of importance to continued on page 6 www.wscpa.org

LEADERSHIP LENS

Some of the Best Leadership Training is Free By Heather Fitzpatrick, CPA, CGMA,WSCPA Chair for 2014-15

nvestments in corporate training, and particularly on leadership development, are soaring. This year, US corporations will invest $70 billion in employee training, 35% of which will be focused on leadership training. This isn’t a surprise. Investments in corporate training typically grow when the economy is accelerating. More importantly, many executives are nearing retirement, and the global leadership gap—the shortage of qualified leaders to take their places—is a critical concern to many companies. While many organizations, including the WSCPA, offer courses designed to educate participants on best practices in leadership and related topics, the most effective leaders have honed their formal education with hands-on practice.A quick look at programs that include simulation or in-house coaching suggests that the practical portion of leadership training can be the most expensive. Fortunately, it doesn’t have to be. Not-for-profit organizations provide volunteers with many opportunities for leadership development. They’re an excellent investment, too. The only outof-pocket cost is time, and there are many additional benefits. Volunteer leaders benefit from working with individuals outside their organization and our profession who bring insight and experience into various aspects of management and leadership.Volunteers build lasting friendships and relationships with others in the community. And, of course, you help an organization whose sole purpose is to improve the world in which we live. But in order to take advantage of this particular form of leadership training, there are a few things you should keep in mind. Follow Your Passion. In Good to Great, author and researcher Jim Collins describes exceptional leadership as the combination of personal humility and www.wscpa.org

When choosing among the many organizations that offer volunteer leadership opportunities, consider the issues and causes about which you are most passionate. Not only will that make your leadership “training” more enjoyable, it will make you more successful.

professional will. While leaders are often ambitious, they are more committed to the success of the organization than they are to what they achieve personally. In this respect, there is little difference between exceptional volunteer leaders and exceptional corporate executives. Both require a commitment to service on behalf of the organization above self. When choosing among the many organizations that offer volunteer leadership opportunities, consider the issues and causes about which you are most passionate. Not only will that make your leadership “training” more enjoyable, it will make you more successful. Be Committed. Leadership is not a passive activity.We all know someone who has asked to be involved in an important project, client engagement, or volunteer committee because they wanted it on their resume. Once on board, their enthusiasm wanes. They don’t prepare or even show up for meetings, don’t follow through, and don’t bring the required energy to the tasks at hand. These individuals are sabotaging their own leadership development. Not only are they passing up the opportunity to learn, they are diminishing their reputation

among their colleagues on the committee or board. Just as with a failure to perform in a corporate environment, this means they will be less likely to be invited to participate in bigger, more visible, or more challenging projects. Be Realistic. Treat your quest for volunteer leadership opportunities like a job search, and be realistic about the positions for which you apply. Most not-for-profits need a mix of volunteers, including people who can write big checks, people with specialized expertise, such as investment management or law, people with extensive experience in not-for-profit governance and leadership, and people who will participate actively in roles ranging from event support to committee management. As you consider where to begin your volunteer leadership development, consider what you bring to the table and what the organization needs, and be realistic about what role is a good fit for both of you. Even seasoned corporate managers often need to work their way up the volunteer leadership ladder. continued on page 6 WashingtonCPA Fall 2014

LEADERSHIP LENS

Relationships Make the World Go Round

Some of the Best Leadership Training is Free

our profession, they listen intently to our viewpoint because they respect our profession as being objective, honest purveyors of the truth. And they also know that CPAs have a great deal of influence with their clients and businesses. (See Kimberly Scott’s article on page 24 for the latest advocacy news, including the issues we’ll be watching and discussing with legislators in the coming months.) Many of the relationships I have developed over the past decade are related to my role as CEO of the WSCPA. This has been the most enjoyable part of my job. Many other relationships result from my active participation in several nonprofit civic organizations. Heather Fitzpatrick’s column in this issue (on page 5) does an excellent job of dissecting how public service can benefit all of us. It is one great way to develop relationships and create friendships, many of which will last a lifetime. The WSCPA is primarily engaged in the relationship business. If you would like to discuss ways in which we can enhance your relationships, please feel free to contact me at rjones@wscpa.org.

Start Early. Leadership takes practice.The earlier in your career you start as a volunteer leader, the more opportunities you will have to develop your skills, and the more you will benefit from the relationships you develop in the process. Many new professionals are reluctant to take the time away from career development, especially if employers won’t support the time required during the work day. Since leadership skills take years to hone, this approach is short-sighted both for employers and for employees. Volunteer involvement does not have to be time consuming—and it can be the difference between effective management and exceptional leadership. Start with the WSCPA. Fortunately, the WSCPA offers members a variety of opportunities to develop leadership skills, ranging from committee and chapter participation to board leadership. For more information about the types of opportunities that might be a good fit for your skills and interests, contact Member Services at memberservices@ wscpa.org. If you have extensive experience in not-for-profit governance and management, consider submitting your name as a candidate for our board. To do so, contact Ann Young at ayoung@wscpa.org.

continued from page 4

continued from page 5

Heather Fitzpatrick is President & CEO of MarketFitz.You can contact her at hfitzpatrick@marketfitz.com.

WashingtonCPA Fall 2014

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VOLUNTEERING FOR NONPROFITS

Volunteering for Board Positions By Kathryn Sklar

Financial and Fundraising Commitment •

•

Are board members expected to personally contribute a minimum amount to the organization? Do board members have individual fundraising quotas?

Sometimes board members get sued. Does the organization have liability insurance that covers board members? If not, it’s worth looking into a personal umbrella policy, which is a way to add extra general liability coverage, including coverage for attorney’s fees, onto an existing insurance policy. [Editor’s note: See page 9 for more on the legal considerations.] www.wscpa.org

•

PAs get asked to serve on boards a lot. Sometimes organizations want us for our technical expertise, but sometimes they just need someone at the table who is comfortable talking concretely about money. I spent many happy hours volunteering as a teenager, and during college I looked forward to being able to use my new accounting skills for the greater good. I’m a big believer in learning from other people’s experiences wherever possible, so once I passed the CPA exam, I took to questioning everyone I knew (including partners at my firm) about their volunteer board experiences. The main advice I got was to hold off for a couple of years until I had enough professional experience to know what I didn’t know. This was sound advice! I took it. While I now have a couple of years of experience volunteering as Treasurer for my small Home Owners’ Association (HOA), I’ve continued to question others about their volunteer experiences. I’ve gotten some excellent advice during this process, and want to share it with you. Three crucial sets of questions to ask the organization:

Time Commitment • •

• •

How often and for how long does the board meet? Where are meetings held? Is it okay to attend via phone or computer when time is especially tight (i.e., busy season)? What other events are board members expected to attend? How long is a board member’s term?

Job Description/Expectations •

•

What technical knowledge are they expecting you, as a CPA or future CPA, to bring to the table? If you’re signing on for Treasurer or another titled position, is there a job description? Is the most recent person who held the title available to train you and ease the transition? Does the organization already have a paid or volunteer bookkeeper, or are they recruiting an accountant because they need a volunteer bookkeeper?

If it’s a larger organization or handles a lot of funds, do they have an annual audit?

Three crucial questions to ask yourself: • Are you passionate about the organization’s mission? If you’re not, is there some other factor that will make your commitment rewarding? (E.g.: a loved one is passionate about the organization; you’ll get peace of mind knowing your PTA/HOA is in good financial condition; you’re burning up with curiosity to get to know the inner workings of not-for-profits.) • If the organization were a person and it was ill, would you want to interrupt your life to bring it chicken soup? (All organizations will have crises that require board attention. It might not happen during your tenure, but you should be prepared.) • Do you like the people you would be working most closely with? If you’re not sure, find out if there’s an event or portion of a board meeting you could attend to get a feel for this. Kathryn Sklar is Business Systems Analyst at Perkis & Co. in Portland. This article originally appeared on the OSCPA’s “More than Numbers” Blog – oscpablog. wordpress.com. Reprinted with the permission of The Oregon Certified Public Accountant, a publication of the Oregon Society of CPAs.

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NONPROFIT ORGANIZATIONS

In 2010:

34,997

nonprofit organizations in Washington State

9.2%

of wages + salaries paid in U.S.

25.4

Sources: National Center for CharitabIe Statistics: http://nccs.urban.org/statistics/quickfacts.cfm; IRS Business Master File 04/2010 (with modifications by the National Center for Charitable Statistics at the Urban Institute): http://nccsdataweb.urban.org/PubApps/profileDrillDown.php?rpt=US-STATE; The Nonprofit Almanac, 2012; Bureau of Labor Statistics Current Population Survey, September 2013: http://www.bls.gov/news.release/volun. nr0.htm; Giving USA, 2013: http://www.givingusareports.org

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out of 51 (states + DC)

Washingtonâ&#x20AC;&#x2122;s rank for number of nonprofits

$42.98 billion

total revenue of Washington nonprofits

charitable contributions by individuals, foundations, bequests, corporations (2012)

percent of Americans over the age of 16 volunteered through or for an organization between September 2009 and September 2013

19,609

nonprofits in Washington filed with the IRS

Â&#x2018; $148.57 billion

total assets of Washington nonprofits

nonprofits accounted for

$316.23 billion

5.5%

0.6%

over 2011 nonprofit share of GDP (2012)

254

WSCPA members who work for not-for-profit organizations

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So You Want to Join a Nonprofit Board? A Look at Legal Considerations By Jeaninne Ryan and David Tan

ongratulations! Nonprofit board membership is an exciting and rewarding endeavor! CPAs as board members are in great demand due to your financial expertise, objectivity and understanding of the fiduciary responsibility to third parties. Not only is your experience valuable to the nonprofit organization, but participation on such a board can also provide you with potential business development opportunities. You may wonder though, what issues you may face as a board member and how to address these issues with the executives of the organization and fellow board members. This is a very valid question as board members have the fiduciary responsibility to ensure the nonprofit’s finances are managed appropriately to maintain the non-profit status and to assure long term viability of the organization. Some of the most important considerations for nonprofit board members are as follows: 1. Ensure the nonprofit organization has Directors & Officers Liability (D&O) insurance. The laws of Washington State protect volunteer board members—you cannot be sued for mere negligent acts. However, you can be subject to lawsuits alleging loss due to your gross negligence, willful or fraudulent acts. Washington State laws also allow for the organization to defend and indemnify you as a board member from liability. However, the organization may not have the funds necessary to do so or the governing/creation documents may not provide authority for the entity to do so (it’s an elective choice). This is where the organization’s Directors & Officers insurance would step in to defend and indemnify board members. Keep in mind—fraudulent or criminal activities are NOT INSURABLE. If the www.wscpa.org

VOLUNTEERING FOR NONPROFITS

If the non-profit organization does not have and will not procure Directors & Officers Liability insurance, you may be able obtain coverage as an individual board member. There are some Personal D&O policies available in the marketplace... It is important to verify that the coverage you obtain yourself will defend and indemnify you— just as an organization’s D&O policy should do. nonprofit organization does not have and will not procure Directors & Officers Liability insurance, you may be able obtain coverage as an individual board member. There are some Personal D&O policies available in the marketplace. Also, there is the potential for some coverage under your Homeowners or Personal Umbrella policy with some insurance carriers. It is important to verify that the coverage you obtain yourself will defend and indemnify you—just as an organization’s D&O policy should do.

2. Ensure that the board is not just a “rubber stamp” for management of the organization. If you simply agree with any management decisions, you are failing to fulfill your fiduciary duty. In Washington State, there are specific RCWs outlining your fiduciary duty. First, there is the duty of care which means you should exercise reasonable care in making a decision for the organization. This means understanding and fully evaluating corporate issues requiring board action. Second is WashingtonCPA Fall 2014

VOLUNTEERING FOR NONPROFITS

Not-for-Profit Committee

Find Nonprofits that Need CPA Volunteers

Join the WSCPA Board

If you’re interested in connecting with CPAs who work with the not-for-profit community, join the WSCPA Not-for-Profit Committee. The committee meets regularly throughout the year and plans the popular Not-forProfit Conference in November each year. Contact memberservices@wscpa.org to join.

Want to volunteer for a nonprofit? Turn to the WSCPA’s Volunteer Opportunities—a list of not-for-profit organizations that are in need of a CPA to serve on the board or provide pro bono assistance. See page 46 or visit www.wscpa.org (click the Volunteer Opportunities link at the bottom of the homepage).

CALL FOR NOMINATIONS -

the duty of loyalty—you must always act in the best interests of the organization. Finally, the duty of obedience requires you to act in a manner that furthers the mission of the organization. Boards that blindly follow the decisions of executives risk being held responsible for fraudulent or illegal activities because they have not performed appropriate due diligence.

is also the possibility that claims against the firm arising out of services performed for the specific nonprofit organization that their employee/partner is a board member of may not be covered. If you work in private industry, it is important to evaluate the following:

3.Think about any potential reputational risks associated with board membership. 4. If you work for a CPA firm, discuss any potential board service with the CPA firm’s partnership group before accepting a position, as board membership could affect the firm’s business relationships with clients. It is also important to separate any work of the firm for a nonprofit organization from board membership. Anything that could impair or give the perception of impairing, the firm’s independence and objectivity should be avoided. Accountant’s professional liability policies specifically exclude coverage for claims related to service for any company or organization other than the CPA firm. Claims against the CPA in his/her capacity as a board member will not be covered.There

WashingtonCPA Fall 2014

a. b.

The nonprofit organization’s cause The nonprofit organization’s reputation in the community

Boards that blindly follow the decisions of executives risk being held responsible for fraudulent or illegal activities because they have not performed appropriate due diligence.

c. d.

The leadership structure— independence between the finance committee and the audit committee is very important! The nonprofit organization has proper workplace policies and procedures in place.

5. Review the nonprofit organization’s bylaws and articles of incorporation, be familiar with them,

The WSCPA Board Governance Committee is accepting nominations for the 2015-2016 Board of Directors. To submit a nomination, contact Ann Young (ayoung@wscpa.org). Nominations are due November 5.

follow them, recommend that they be reviewed periodically by legal counsel, and make changes if needed. Ignoring an organization’s bylaws opens up the board to allegations of breach of the board’s fiduciary duties. D&O insurance generally will not protect board members if they act outside the scope of the non-profit’s bylaws and articles of incorporation. Overall, acting with care and diligence as a board member, exercising independent judgment and remembering your main role—as overseer of the non-profit’s executives in the furtherance of the mission—will help you to be an effective board member for the nonprofit organization of your choosing. Jeaninne Ryan and David Tan are Client Executives in the Property & Casualty insurance division at Kibble & Prentice, A USI Co. Jeaninne and David specialize in assisting professional services firms with their insurance programs and risk management issues. David has nearly 30 years of experience in all aspects of financial services. Jeaninne has 17 years of experience in insurance and risk management. You can contact them at david.tan@kpcom.com and jeaninne.ryan@ kpcom.com. www.wscpa.org

VOLUNTEERING FOR NONPROFITS

Congratulations: You’re the Board Treasurer! By Julleen Snyder, CPA, CGMA

General Responsibilities of Board Members, Including Treasurers

First, it’s important to understand your legal responsibilities. All board members, including board treasurers, are required to exercise fiduciary duty to ensure that the organization’s financial resources are effectively managed and sufficient to assure the organization’s long-term financial viability. In Washington State, exercising fiduciary duty incorporates three basic duties:

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hether you are already a board member of a nonprofit organization or just contemplating accepting a position, as a CPA, it is likely that you will be asked to become the board treasurer. Serving as the treasurer of a not-forprofit organization can be extremely rewarding. On the other hand, there are some important differences between nonprofit and for-profit accounting rules and best practices that you will need to be aware of in order to be an informed and effective treasurer. This article will give you a brief glimpse into some of the more significant differences between the two types of organizations and the information you’ll need to know. However, it’s just a start. A more detailed look into the roles and responsibilities of the board treasurer is available through the WSCPA 4-hour CPE program entitled “What Board Treasurers Need to Know” (Course Number: 15WBTNDE) on December 4, 2014 in Bellevue. Of course, if you’re already in that role, you won’t want to wait until December to learn the most critical aspects of the board treasurer’s role! To help you, here’s a quick overview of the top information you should know:

1. The duty of good faith requires that you act in good faith, in a manner that you reasonably believe to be in the best interest of the organization. 2. The duty of loyalty requires that you act in a manner that furthers the interest of the organization, and that you refrain from engaging in activities that could be construed to injure or take advantage of the organization. 3. The duty of care requires that you exercise diligence in the oversight of corporate officers, and that you seek and review all information necessary to make an informed decision.

• • • • • •

•

As a board member exercising the duty of care, you should: • •

Prepare for and attend all board meetings Read all information provided

to you Actively participate in board discussions, exercising independent judgment in decision-making Ask questions to form a complete picture of the organization’s financial situation Review the organization’s Form 990 prior to filing Seek to increase transparency Adopt and implement appropriate financial governance policies Understand the impact of various revenue and fund development approaches on your organization’s financial health Understand the roles of the board treasurer and the finance and audit committees, and actively participate in identifying qualified board members to fill those roles

As the board treasurer, you must also: •

Work with the ED/CEO to WashingtonCPA Fall 2014

VOLUNTEERING FOR NONPROFITS

• • • •

ensure that appropriate financial reports are made available to the board on a timely basis Present the annual budget to the board for approval Review the annual audit and answer board members’ questions about the audit Help select an auditor and other relevant professional services Establish and supervise appropriate internal controls

The Board Treasurer as Chief Financial Translator

As the board treasurer, one of your most important jobs is to educate your fellow board members, who have fiduciary responsibilities relative to the organization’s financial health but may not have the training or experience you do, as a CPA. To ensure that your fellow board members understand the organization’s financial position, you’ll need to serve as chief financial translator for the information coming from the organization’s bookkeeper or accounting staff.The most common means of keeping your fellow board members informed is to deliver a treasurer’s report at each meeting. The treasurer’s report typically includes: •

• •

•

Recommendations relative to policies or procedures for the board’s consideration and/ or vote A report on the finance committee’s activities, assuming that the organization has one A full set of financial statements including the Statement of Financial Position and the Statement of Activities A summary of budget-to-actual

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financial data, generally with a copy of the budget As the board treasurer, you should understand the reasons for any material deviations and be prepared to outline the reasons or ways they are being addressed. Dashboards can be extremely helpful in allowing board treasurers and

As board treasurer, it is your responsibility to ensure that the organization is using its financial resources properly and in accordance with IRS laws governing tax-exempt organizations. While the role may seem daunting, with some education it can be a great way for you to leverage your expertise to improve our world. not-for-profit staff to quickly and effectively communicate the status of key metrics to board members. For many board members, even CPAs, the names of the financial statements used by not-for-profits can be somewhat confusing. The Statement of Financial Position summarizes the assets and liabilities of the organization, in the same way that the Balance Sheet summarizes the financial position of a for-profit organization at a single point in time. However, not-for-profits show a section called Net Assets where the equity section would appear on most for-profit corporations’ statements, and those net assets are

classified based on any restrictions that donors may have placed on contributions to the organization. There are several types of restriction categories, each with its own reporting requirements and reserved spot on the Statement of Financial Position. Similarly, the Statement of Activities summarizes the results of the organization’s financial operations over a period of time, in the same way that an Income Statement does for a for-profit organization. However, rather than reporting a profit or loss on the bottom line, the organization reports a Change in Net Assets. In addition to what the statements and their components are called, there are other significant differences between forprofit and not-for-profit financial statements, and it is important for the board treasurer to be familiar with what each category of income, expense, liability or asset is comprised of, and how it is reported.

Understanding IRS and Other Government Reporting

In some respects, “tax-exempt entity” is a misnomer. Not-for-profit organizations are only exempt from federal income taxes, and the board treasurer should understand the tax obligations for which the organization is responsible, such as B&O, use tax and property taxes. In addition, the board treasurer should ensure that the organization files the state and federal reports required to protect its charitable status. The most highly visible form an exempt entity must file each year is the IRS Form 990. However, the board treasurer must understand that the IRS is not the only reader of the document. For many nonprofits, bankers, lenders, other governmental agencies, funders, and, perhaps most importantly, sophisticated donors all review the Form 990 for information www.wscpa.org

VOLUNTEERING FOR NONPROFITS

about the organization’s financial stability and operations. To be effective, the board treasurer must understand which pages are of greatest interest to key external audiences, and what messages are communicated in the descriptions the organization includes with its required filing. As a board treasurer, you can stay proactive about governance and compliance issues by: • •

•

• •

Educating yourself on reporting and compliance requirements Looking for red flags such as incomplete returns, nonindependent board members and lack of written governance policies Using a review checklist (such as the one found here: www.jjco.com/resources/pdf/ Form990Checklist.pdf) Making reasonable inquiries and exercising independent judgment Making recommendations for process improvements, as needed

become burdened by excessive tracking and reporting costs, which can drain resources away from mission-building purposes. Auctions and fundraisers also pose challenges in that they yield a relatively low return on invested resources due to the hidden cost of time required from paid and volunteer team members. Finally, treasurers must understand the documentation and reporting requirements required by the IRS, which differ based on whether the gift was a cash contribution or not.

Conclusion

Julleen Snyder, CPA, CGMA, is an audit partner with Jacobson Jarvis, a CPA firm dedicated to serving the needs of not-forprofit organizations. For additional information, contact Julleen to request a copy of the Jacobson Jarvis publications, “What Board Members Need to Know About Not-forProfit Accounting” and “What Non-Profits Need to Know About Tax Compliance.” Julleen can be reached at julleen@jjco.com or (206) 628-8990.

Learn more What Board Treasurers Need to Know (15WBTNDE) December 4 | Bellevue 4 CPE credits

Understanding the Strings Attached to Gift Acceptance

Fundraising is an important aspect of board service and, as treasurer, you may be asked to provide guidance relative to gift acceptance. To do so effectively requires an understanding of the common forms of gifts and any hidden costs that may overshadow the benefit they deliver. For example, an organization may be on the hook for additional taxes if it engages too heavily in activities that are not associated with the exempt purpose for which the IRS granted taxexempt status, such as accepting advertising on the organization’s website. Some organizations that receive significant amounts of federal funding may www.wscpa.org

Earn up to 18.5 CPE credits

Not- for- Prof it Con feren ce November 20-21, 2014 Seattle, WA | Webcast Register now! www.wscpa.org/conferences www.wscpa.org/conferences | (425) 644-4800 WashingtonCPA Fall 2014

NEWS BRIEFS

Free Resource: Feedback on Financial Reports

Are the financial reports you are issuing in accordance with GAAP, OCBOA, GAAS, and GAGAS? The WSCPA offers complimentary, confidential comments relating to financial statement format, presentation, and other professional issues based on reviews of post-issued financial statements. Submit up to two redacted statements by December 15 to Rachel Brown at rbrown@wscpa.org or call (425) 586-1128 for more information. The Financial Statement Review Committee, which meets throughout the year to review financial reports, is looking for additional members. If you are interested in joining the Financial Statement Review Committee, please contact Rachel for details.

WSCPA Accounting, Auditing, and Review Standards Committee Technical Hotline for Members

Ever wonder who you can turn to when you have a question about an accounting, auditing or review standards (AARS) issue? Members of the Accounting, Auditing and Review Standards Committee are available to discuss issues related to AARS with WSPCA members.To connect with a member of this committee, contact the WSCPA at (425) 586-1142 or (800) 272-8273 extension 1142 (inside WA).

Need Tax Advice?

The WSCPA Taxation Committee members are here to help. Call (425) 644-4800 to be connected with the appropriate member. This free benefit is for WSCPA members only.

WashingtonCPA Fall 2014

Leadership Lens Breakfast: What Kind of Corporate Animal are You? November 19 | 8-10 am Seattle Renaisannce Hotel $40 per person | 1.5 CPE credits Code 15NWNV19 Are you interested in understanding how to leverage your strengths as a leader? Join your professional peers over breakfast to hear from two outstanding speakersâ&#x20AC;&#x201D;Rachel Dexheimer and Tim Russellâ&#x20AC;&#x201D;who will explore unique ways to help you increase your effectiveness as a leader. Register at www.wscpa.org/events or (425) 644-4800.

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Do you know me? I am your fellow WSCPA committee member who ensures that everything is running smoothly at an event. Or maybe I’m a new CPA in your office and I’m making an effort to get involved in the WSCPA. Or perhaps I am an individual who has used my position as a CPA to provide leadership throughout the community. Nominated by a colleague and selected by a committee of my peers, I am proud to have been selected as a WSCPA Award Winner. Rick Greaves, Carmen Aguiar, Brett Jordan, Mike Cheney, Sarah Ozanne, Nerelys Codero, Rick Sweeney, Rick Anderson, Pete Shimer, Peter Miller, Dave Trujillo, Joe Sambataro, Robert Nuber and Jim Ladd are but a few of the many WSCPA members that have won a WSCPA award. Who will you nominate?

WSCPA AWARDS Submit your nomination now! www.wscpa.org/community/awards/nomination-form John L. O’Brien Lifetime Achievement Award Recognizes a current or former member for a career of leadership and dedicated service to the accounting profession and as an exemplary role model for other CPAs.

Outstanding Volunteer Leader Award Recognizes an active member for outstanding service and dedication and/or innovative and inspirational WSCPA leadership. New Professional Award Recognizes an active member who has been a CPA for fewer than ten years for outstanding WSCPA leadership.

Vincent A. Gervais Public Service Award Recognizes a member whose respected leadership in community organizations has enhanced the image or public perception of CPAs.

Rising Star Award Recognizes a member who is in the process of obtaining a CPA License for active WSCPA leadership, dedication, and service.

Company or Firm of the Year Award Recognizes a company or firm that provides noteworthy support to the WSCPA and its members. Special Award Recognizes an individual who is not a CPA but has supported or promoted the activities of CPAs and the WSCPA.

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WashingtonCPA Fall 2014

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NEWS BRIEFS

SPECIAL MEMBER DISCOUNT FROM CCH

IN MEMORIAM:

Save 25% on U. S. Master Tax Guide Richard Clarke Richard (Dick) 2015 when You Order Online F. Clarke, 1983Tax season is just around the corner. Order the U.S. Master Tax Guide through the WSCPA and save 25% off the $97.25 list price! Place your order online and the WSCPA member price is just $72.94 plus tax and shipping.You will not be billed until after the book ships. (Cancel before shipment without charge.) An e-Book option is now available; download to your computer instantly once the book becomes available. The 2015 edition will contain timely and precise explanations of federal taxes for individuals, corporations, partwww.cchgroup.com/members/WSCPA nerships, estates and trusts. To order, please visit www.cchgroup.com/members/ WSCPA. The discount code Y5596 will be applied to your order at checkout. Save up to 40% on other CCH top tax and accounting titles. Use the link above and scroll down to view Current Book Specials.

Find a CPA Referral Service: Easy Marketing For Your Firm Sign up today at www.wscpa.org (click “Find a CPA”) Was the public able to easily find your firm this past tax season? Are you looking for ways to attract new clients? Now is a great time to enroll your firm in the WSCPA Find a CPA Referral Service and expand your client base. For just $175 your listing will be enrolled for a full year. This service does far more than any ordinary phone book listing. Not only does this service make it easy for new clients to find your firm, but it also highlights the services and areas of now for a full New! Enroll expertise offered by your firm. year for just $175 The WSCPA referral service is a great source of new clients looking for services in industries that match your firm’s expertise. Rather than using directory assistance to find a CPA, potential clients feel comfortable about their referral from the WSCPA because they are able to view information about services offered by your firm. To enroll in the service visit www.wscpa.org > Find A CPA. If you have questions, call (425) 586-1142, or toll-free in Washington at (800) 272-8273, Ext. 1142, or send an e-mail to memberservices@wscpa.org.

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1984 Board Chair ofxthexWSCPA, passedxawayxJuly 30, 2014. He was 84. He was born Dec. 9, 1929, in San Diego,xCalifornia and was raised in Portland, Oregon. In 1952 he earned a B.S.B.A. degree and minor in Forestry at Oregon State University. He met his wife Donna in college. They were married 62 years, had three children, and lived in the Ravenna area of Seattle area for more than 50 years. A veteran of the Korean War, Dick was a CPA partner of Benson & McLaughlin until retirement. He was an active member of the WSCPA, serving on the Professional Conduct Committee and teaching seminars. He served as Chair of the Building Committee which, in 1977, recommended that the Society acquire a building. Following years of work, negotiations, disappointments, and finally success, the WSCPA building was completed in the spring of 1983.

In Memoriam The WSCPA holds in memory with families and the larger community, these members who have recently passed on: William R. Bergquist, MBA Paul F. Carroll, Jr. Richard F. Clarke Judith Ann Harding, CPA Wallace E. Post

WashingtonCPA Fall 2014

NEWS BRIEFS

Update Your Interests What’s your area of interest? Taxation, auditing, not-for-profit, fraud, health care industries? Please take a moment to update your areas of interest in your MyWSCPA profile online at www.wscpa.org. When you update your areas of interest, you are providing the Society with information to better serve your needs. If you need assistance logging in to the website, please call (425) 6444800 or send an email to webmaster@wscpa.org.

Society Mailing List Policy The Society does not sell member e-mail or mailing addresses. Members may occasionally receive mail from the Society’s third-party affinity partners that offer products or ser-

Manage Your Interests

vices deemed to provide value to members. To be excluded from these mailings,

Go to www.wscpa.org. Click MyWSCPA. Log in. On your Profile page, scroll down to this box:

update your Communication Preferences online at www.wscpa.org (select MyWSCPA, then scroll down and select Communication Preferences from the list of links) or send a request to unsubscribe from third-party

Choose Manage My Interests

maillings to memberservices@wscpa.org, or call the Society at (425) 644-4800 or (800) 272-8273 (toll-free in Washington).

Join the conversation! LinkedIn

Are you a member of the WSCPA group on LinkedIn? Join the conversation today! Plus, follow WSCPA news and find event photos on Facebook and Twitter.You may have missed the following discussions, news and posts:

Facebook

Twitter

Do you have experience with Axium Ajera or Clearview InFocus, or could you recommend a similar accounting software package? Advice needed on foreign income exclusion “Bona Fide Residence” audit Need direction on preparing Grantor Trust Financial Statements for a bank Connect with fellow members, and participate in discussions at www.wscpa.org (click “in” icon at the bottom of the homepage)

WashingtonCPA Fall 2014

Like the WSCPA on Facebook WashingtonCPAs

Follow the WSCPA on Twitter @wscpa

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Football Frank, CPA

Football is back! I schedule my CPE during the week so I can focus on my teams during the weekend. Every weekend.

Jim Rigos

Are you pumped up for football this fall?

Tom Neill

Mark Hugh

ethics CPE

Wa s hing ton Sta te Ethics Ethics CPE approved by the Washington State Board of Accountancy Washington State CPA Ethics and New Developments by Mark Hugh (A WA Requirement)

Rules Regulations and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement)

Washington CPA Regulatory Ethics by James Rigos (A WA Requirement)

Nov 18

Vancouver

Nov 10

Bellevue

Nov 11

Tacoma

Dec 5

Bellevue

Nov 18

Kennewick

Dec 12

Seattle

Dec 10

Bellingham

Nov 19

Spokane

Mar 19

Bellevue

Dec 1

Lynnwood

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Prefer to take your ethics credits from your home or office? Take a WSCPA ethics webcast: www.wscpa.org/cpe/ethics Register now! www.wscpa.org/cpe/ethics (425) 644-4800 WashingtonCPA Fall 2014

WashingtonCPA Fall 2014

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AFFORDABLE CARE ACT

7 Biggest Myths About Affordable Care Act Strategies in 2014 By Dan Fisher, CPA, CGMA

1. Obamacare is going to be repealed.

Yes, I still hear this a lot. No, the ACA isn’t going away. And ignoring the politics for a moment, we really don’t want the ACA to go away either. Too many provisions are either way too popular (elimination of pre-existing condition limits is the big one) or so embedded into the health insurance industry (like the limits on waiting periods and lack of annual and lifetime limits on coverage) that they are beyond reproach and will survive future political wars.What may happen after the next election is anybody’s guess, but the most likely outcome is a challenge to the funding of the public exchanges. Without substantial federal premium subsidies and coverage credits, these public exchanges will likely cease to exist. Even if that did happen in the next few years, most of the insurance reforms and employer requirements are here to stay. So if your employer or employer client is still using the ACA turtle shell strategy – good luck with that.

2.The Affordable Care Act is going to make health care www.wscpa.org

s a self-proclaimed health care reform specialist, I see and hear many misconceptions about how the Patient Protection & Affordable Care Act (ACA) affects Washington State employers. Some of this comes from assisting clients as the open enrollment season approaches. Most of these, however, come from elsewhere in the insurance and benefits marketplace where all kinds of crazy ideas and wild assumptions exist. I am certainly not the ultimate authority on health care reform nor am I an attorney, but as a CPA/CGMA serving as the WSCPA’s benefits broker and consultant, I am on the front lines and have learned a great deal that can help you and your clients.

No, the ACA isn’t going away. And ... we really don’t want the ACA to go away either.

more affordable.

No, it isn’t. The ACA has been and will remain a colossal undertaking for us all. It has changed all the rules of employee engagement and it has an effect on every American. But like most federal legislation that deals with employee benefits, it is mislabeled. Just like HIPAA has nothing to do with Portability and COBRA isn’t about snakes, the ACA isn’t about making health care affordable; it’s about health insurance reform. Health care reform may be crowding out other topics in the board room, but health care costs are the elephant in the emergency room. Costs are going up and the ACA isn’t going to do anything to help. (PCORI is a valid start – not an end solution). The sooner employers get back to health care cost containment strategies and put ACA compliance issues to rest, the more productive and profitable they will be.

3.The ACA says I have to offer health insurance to my full time employees.

No, it doesn’t. Nowhere in federal law (not even ERISA) does it state “thou shalt offer health insurance.” What it does say is that if you are a large employer and don’t offer coverage, you are going to

pay a penalty. It also says if you do offer a health plan, you and your insurer must follow a bunch of rules (old and new) to avoid the fines. Employers with fewer than 50 employees don’t face these “shared-responsibility” payments (don’t you love how the regulators avoid calling them penalties?). There are transitional relief rules in place that will spare some employers with up to 100 full time employees from the penalties for another year. Offering a health plan is an employee benefits strategy that can significantly affect an employer’s ability to attract and retain talent. However, it is only one strategy and not a legal requirement. This is an important distinction because there are a lot of employers out there hanging onto health plans that are too expensive and have out-of-pocket maximums that would bankrupt most of their employees. I call this the Dead Horse strategy: employers riding “dead horse” health plans because they feel they don’t have options. They do have a choice and for some employers, that means dismounting from a health plan that is already useless. On the other end of the spectrum, many employers are enhancing their health plan offerings because what was becoming just an expensive commodity (a decent employee health plan) is now a significant differentiator for an “employer of choice.”

4. Grandfathering prevents my employer plan from being penalized.

No, it doesn’t. There is really only one reason to even consider hanging onto a grandfathered plan: it may allow a fully insured health plan to continue discriminating in favor of highly compensated individuals for another year or so. Nondiscrimination rules “similar to” IRC Section 105(h) have been pended for now. If and when they apply to fully insured health plans, an employer can WashingtonCPA Fall 2014

AFFORDABLE CARE ACT

avoid those fines for a while. That’s about it. The rest of the ACA provisions that a grandfathered plan can postpone are actually ones you want to adopt. But the more damaging part of the grandfathering strategy is that it doesn’t protect you from the other employer ACA requirements and penalties. And a plan that hasn’t changed since March of 2010 (a requirement to remain “grandfathered”) is going to be much more expensive than a plan that has kept up with current designs, network changes, wellness incentive trends and other cost containment strategies. So while an employer who favors their executives in a grandfathered fully-insured health plan (lower or no premium contribution, a shorter waiting period, offering a better plan design, paying for dependents or a few months of COBRA, etc.) can temporarily avoid discrimination testing and penalties, they are also prevented from adopting more favorable strategies.

5. I can drop my group medical plan and adopt a Health Reimbursement Arrangement (HRA) that will allow my employees to use tax-free money to pay for their own coverage through the State Exchange.

No, you can’t. An employer cannot pay for individual coverage on a taxpreferred basis in lieu of offering a group plan (see IRS Notice 2013-54). And coverage through the public exchanges is currently individual – not group. Standalone HRAs for retiree medical plans are permissible, but it ends there. There are many variations of these plans and they usually have an official sounding name and the promoters have a letter from an obscure, out-of-state law firm as proof that this is viable. It isn’t, and the fines are steep. It’s a very similar pitch to the old-school “advance reimbursement” or “double dip” schemes that pop up now and again.So,you can drop your group plan and you can encourage employees to find their own coverage through other means – including public exchanges – and you can raise taxable wages to assist

WashingtonCPA Fall 2014

An employer cannot pay for individual coverage on a tax-preferred basis in lieu of offering a group plan (see IRS Notice 2013-54).

these employees. But don’t try and write off the individual policy premiums or any contributions that may go towards them.

6. An employer can offer cash to an employee who declines the employer’s offer of affordable, minimum value coverage.

Probably not. And you are definitely going to want to involve your legal counsel before proceeding with anything that even smells like an opt-out payment. The strategy is pretty simple: an employer may reduce enrollment in its medical plan and still be treated as offering an affordable, minimum value plan (MVP) and thus avoid ACA employer penalties. The problem is the tax code may treat a cash “opt-out” payment as an employee contribution – not an employer contribution. Even so, I really don’t want these opt-out strategies spreading for two reasons. First, the employer has to communicate and implement the incentives very carefully so they aren’t targeting individuals with high claims (the very people who need the coverage most and drive up the costs the highest). An employer could easily violate ERISA (which prohibits discrimination based on health factors), Medicare Secondary Payer rules, HIPAA and the Americans with Disabilities Act by offering opt-out payments or waiver incentives. The second reason this approach doesn’t sit right with me is that there are much better strategies for offering affordable, MVP-compliant coverage and still controlling enrollments to meet the employer’s budget. For example, an employer can use a “wellness straddle” strategy to make their plan affordable yet

still collect waivers instead of enrollment applications. Now that the major insurance carriers in Washington State are no longer applying minimum participation requirements to all employers (yes, you read that right), collecting waivers can be a very effective strategy for containing costs. Just be very careful how it’s done.

7.The ACA will effectively force most employers to drop their health plans.

I like this one because it allows good advisors to discuss the many effective approaches that debunk all the myths and support employers that want to offer great health benefits as an effective workforce recruitment and retention strategy. Self-funding, high-value provider networks, private exchanges, reference based (Medicare plus) reimbursements, independent hospital bill audits, incentivized wellness, integrated HRAs, onsite clinics and even telemedicine are all viable and exciting strategies that work and are worth exploring. Dan Fisher, CPA, CGMA, is CEO of EmSpring, an employee benefits and consultingxfirmxthat specializes in creative, compliantxemployee benefitxplans, particularly self-funded medical plans. A past president of the Washington Society of CPAs, Dan is a popular presenter to WSCPA chapters, professional HR groups and attorneys on health care reform due to his straightforward explanations and real-world insight into how the complex law affects employers and consumers. EmSpring has offices in Bellevue, Yakima and Spokane.

Learn more Affordable Care Act - Key Issues for Employers WEBINAR December 29 | January 21 Affordable Care Act - Key Issues for Individuals WEBINAR January 21 2 CPE credits each www.wscpa.org

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WashingtonCPA Fall 2014

ADVOCACY

Putting CPAs in the Minds of Decision Makers By Kimberly Scott

If people like you they’ll listen to you, but if they trust you they’ll do business with you,” said Zig Ziglar, author, salesman, and motivational speaker. During the past few weeks and months, many WSCPA members and grassroots volunteers, along with the Society’s advocacy team, have been meeting, greeting and learning, all in an effort to build relationships and trust.

how they might affect the profession. Many of you may remember hearing about a potential sweep of Washington State Board of Accountancy (WBOA) funds last session. Thanks to members rising to the call of action to contact their legislators, the funds remain with the WBOA. We are proactively addressing the funds this year and will keep you updated on developments as they occur.

Grassroots Committee Volunteers

Private Investigator Statute

During the past few months, some engaged and willing members personally delivered 87% of this year’s CPA PAC contributions to legislators, while creating or deepening valuable relationships in their communities. Thank you to everyone that volunteered to help! The connections that both returning and new volunteers have made will go a long way in supporting the advocacy efforts of the WSCPA. If you are interested in being a part of the grassroots committee, please let me know. By being a part of this committee you will receive information about developments in the state and at a national level. You will also be invited to help create essential relationships with legislators and attend functions.

Budget

While delivering PAC contributions, grassroots volunteers asked this of legislators: “What do you feel are the most important challenges for this upcoming legislative session?” It is probably not surprising that the budget is on their minds. No one knows for certain what options will be presented to fund K-12 education, higher education, transportation or various other issues facing Washington State. During the next session, we will be monitoring closely budget discussions and the options presented for increasing revenue or providing new revenue sources and

WashingtonCPA Fall 2014

Some members, particularly those who are Certified Fraud Examiners (CFE) or who hold Certified in Financial Forensics (CFF) credentials, have expressed concern about the statute that governs Private Investigators. Some people feel that language in the statute could be interpreted to require a P.I. License if you are performing forensic analysis of financial data to determine whether fraud or wrongdoing has occurred. Since these activities are a traditional part of a CPA practice there is an effort to obtain an exclusion in the statute for CPAs. Currently 12 other states have been successful in getting an exemption for CPAs. We have discussed this issue with our local Private Investigator association, and they too support an exemption for CPAs. It is expected that it will be possible to secure the exemption and the statute change this year.We will keep you informed of developments in this area.

CPA Canada

In September the WSCPA hosted representatives from various accounting organizations—National Association of State Boards of Accountancy, CPA Canada, American Institute of CPAs, WBOA and Institute of Chartered Accountants of British Columbia (ICABC)—to discuss the new CPA (Chartered Professional Accountants) credential in Canada. Under the new credential in

Canada, currently licensed CAs, CMAs (Chartered Management Accountants), and CGAs (Chartered Government Accountants) have been grandfathered in to the credential Chartered Professional Accountant (CPA). For the next 10 years those grandfathered in will need to use language such as “CPA, CA” or “CPA, CGA” on their business cards. However, candidates who pass the new exam will be able to use the CPA title. Since this could possibly cause confusion for the public, cross border communications will be increased to ensure the public is protected. Although it appears the standard of the new credential is closely aligned to the standards of our US CPA credential, there are areas of expertise that would require additional exams on both sides. The WBOA and the ICABC already have a great relationship, and during this meeting initial arrangements were made that will hopefully pave the way to better mobility between Washington and Canada for our constituents. The relationships that have been started this year may allow us to be heard, and to help provide expertise when necessary. At the very least, they put CPAs in the minds of the decision makers in this state. I am certain we will see many more topics arise after elections and when session starts. Given the tasks ahead for our legislators, we can assume there will be changes this year. Hang on, it is about to start! Kimberly Scott, CAE, is WSCPA Vice President of Member Services. You can contact her at kscott@wscpa.org.

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BECOMING PARTNER

Knowing What It Takes to Make Partner By Mike Paul

Planning Ahead for the Financial Obligation

For young professionals, repaying student debt is often top-of-mind. The national average for aggregate student loans with an undergraduate degree in 2013 is $29,400, according to the Institute for College Access and Success Project on Student Debt, up from $25,350 in 2011. Graduate students specializing in finance can hold well over $100,000 in total debt. You’ve chosen a good professional field – while the current overall average starting salary for college graduates is $45,473, average starting salaries in public accounting are currently $52,900 www.wscpa.org

ith up-front financial and career planning, partnership opportunities with accounting firms become feasible and less mysterious. There are often opportunities to “make partner” at these firms, but it’s important to outline the steps to get there. One important step could be the financial buy-in. Oftentimes motivated professionals who aspire to firm partnership and leadership also face competing demands on their finances. One of these is the rising cost of higher education, leaving many credentialed professionals with a high level of student debt, and repayment plans well into mid-career. Add this to financing a partner investment, and the financial cost can seem overwhelming. As a candidate enters a firm’s partnership track, there are several considerations in addition to education and experience, including: • Planning ahead for the financial obligation of ownership, • Maximizing your value to the firm, • Considering non-equity partner vs. equity partnerships, and • Developing long term relationships with key advisors.

As a candidate enters a firm’s partnership track, there are several considerations in addition to education and experience. according to the National Association of Colleges and Employers. Though it varies by firm, the opportunity for partnership typically comes with eight to 11 years of experience in the profession. For many, this time easily coincides with the expense of family and household formation, and is when candidates have significant earnings potential, yet still modest net worth. Family dynamics can play a part as well. As opportunities for annual bonuses arise, strive to direct these dollars toward the future partnership opportunity. At a mid-sized accounting firm, the financial commitment may range widely for equity partner, and terms can range as well, often depending on the capital requirements for benefit of retiring

partners. Some firms provide a number of years to finance the partnership, with repayment to be withheld from draws. Some firms require an up-front sum, with annual instalments due over five to seven years. Begin planning with an advisory at least two to three years before actively pursuing partnership. Preparation eases the way for the firm’s partnership review process.

Maximizing Your Value to the Firm

Many firms now take the time to evaluate candidates as early as during the internship process. Firms who are willing to make an investment in early recruiting are looking to build loyalty with new associates. There are a number of criteWashingtonCPA Fall 2014

BECOMING PARTNER

Some accounting firms offer an option for achieving partnership ahead of, or an alternative to, being offered equity partnership. This can provide an increased salary or earnings which can be directed toward financing the future equity partnership. ria applied to assess partner candidates, beyond time of service. Technical expertise in a niche or specialty area, loyalty, managerial aptitude and the ability to attract new work are all important elements of partnership consideration.

WashingtonCPA Fall 2014

Please note that the partner review process may take a few years and candidates may be given feedback by an executive committee to work on certain elements of responsibility for full consideration.

Consider Non-Equity Partner vs Equity Partnerships

Some accounting firms offer an option for achieving partnership ahead of, or an alternative to, being offered equity partnership. This can provide an increased salary or earnings which can be directed toward financing the future equity partnership. Larger firms often have a more rigorous candidate application process, which needs to be arranged and finalized prior to meeting with the managing partner or executive committee of the firm. In some cases, firms may require a candidate to first hold a non-equity partner position, while continuing to be evaluated for equity partnership.

Developing Relationships with Key Advisors

Request advice from a mentor or firm partner, with the goal of future ownership. Together, break down the barriers and establish a plan to prepare for the challenge. Bankers and accountants live in a financial “glass house.” Much like bankers are expected to keep order in their financial and credit dealings, accountants are also expected to be able to plan and budget for current and future obligations. You chose this profession for a reason – best wishes in success and fulfillment over your career. Mike Paul is President and CEO of Plaza Bank, Seattle. He can be reached at (206) 436-7621 or mpaul@ plazabankwa.com.

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CORPORATE ETHICS

Implementing an Effective Corporate Ethics Policy By Tanya Barman and Samantha White

hen asked about their values, the vast majority of companies can provide a document they would describe as a code of ethics or conduct. However, research suggests a possible disconnect between companies’ stated intentions and the degree to which they truly value ethical behavior. Here are five steps that companies can take to ensure that their corporate ethics policy is effective and becomes embedded in the company culture. Also included are practical examples of the various ways organizations have accomplished this task.

1 Code of ethics

The essential elements of a code include assurances of support for the policies from organizational leadership, practical guidance on what is expected regarding ethical issues, commitments concerning stakeholder relationships, example Q&As, scenarios or decision trees, details of how the code will be implemented and monitored, and the consequences of misconduct. Signposts to further support, advice and other relevant policies should also be included.

2 Communication and awareness campaigns

This is a continuous process. Communication of a company’s ethics policy never ends. To engage employees and raise awareness of ethical decision-making, Cisco Systems created “Ethics Idol,” a cartoon parody of the reality television singing contest American Idol. In each episode, animated contestants sang about a particular ethical dilemma or situation, which was then commented on by a panel of Idol-esque judges. After watching the show on the company’s intranet, viewers were asked to vote on which of the judges had given the appropriate response to the situation. At the end of each section, www.wscpa.org

the organization’s ethics officer revealed the correct answer based on official compliance standards. Research shows that most companies’ efforts tend to fail after step two.

3 Training and reinforcement

Most organizations now offer online anti-bribery training. On its own, this is not enough; companies shouldn’t be comforted by a tick-the-box mentality. There is no substitute for face-to-face, qualitative training with wider discussion and debate of understanding and practical application. Discussion of scenarios can help employees explore ethical issues in training sessions. For example, Stryker, a medical device producer, reviewed events that had taken place within its industry and built a set of fictionalized scenarios based on them.To provide context, Stryker created a hypothetical organization with a back story, mission and an organization chart. Employees were presented with a scenario based on this background and

were asked to go through the company’s code of ethics to identify which of the standards were being broken in that case. After the discussion, it was revealed to participants that all of the scenarios had actually taken place in the sector in the past, helping to bring the training home.

4 Supporting context and culture

This involves having the “ethical architecture” in place to support a living, breathing code. That architecture includes outlining policies and regulations in employee contracts and supplier agreements, identifying individuals and boards who are accountable for outcomes, creating ongoing awareness-raising programs, opening discussions with feedback and having oversight and monitoring procedures in place. Taking action against wrongdoing and communicating the action taken to staff is an important element of this. More companies are including ethicsrelated criteria in performance reviews. WashingtonCPA Fall 2014

CORPORATE ETHICS

Ethical Management Checklist Here’s a checklist of reflective questions for finance professionals relating to the management of ethics. It can be found in the Essential Tools for Management Accountants at www.cgma.org/Resources/Tools/essential-tools/Pages/list.aspx. The questions serve as a foundation for reflection. CGMA designation holders must consider and comply with their employer’s policies as well as ensure they uphold the code of conduct of the membership organization to which they belong. A CGMA designation holder who is a member of the American Institute of CPAs (AICPA) must comply with requirements set out in the AICPA Code of Professional Conduct as well as any rules his or her state board of accountancy may have on the matter, and Chartered Institute of Management Accountants (CIMA) members are required to uphold the CIMA Code of Ethics. Also see tinyurl.com/79u5qxp. 1. Does your organization have an ethical statement/code of conduct/code of ethics? If yes, does it reflect your professional obligations? 2. Does your organization currently communicate its ethical business practices and commitment to responsible business? If yes, how? 3. Are your statements for responsible business monitored and verified? If yes, how and by whom? 4. Does your organization include a session on ethics and responsible business in its induction program for all staff? 5. Is this featured in ongoing training? 6. Are you aware of what categories of ethical information are gathered in your organization? If yes, are there any omissions? 7. Do you know who in your management team uses ethical data? Who else might benefit from using ethical data, and how do you work together? 8. Does your board/chief executive/CFO take responsibility for ethical performance? If no, what role should they take? 9. Are staff rewarded/disciplined in relation to ethical performance? 10. Is someone in the organization responsible for gathering or analyzing ethical performance information? 11. Does ethical data gathered within your organization help inform business decisions and business success? 12. Does your organization have an anti-bribery policy? If yes, is your anti-bribery policy promoted/enforced? How? 13. Does your organization have a whistle-blower/speak-up line? If yes, how is it communicated, and how are reports acted upon? 14. Does your organization have an open-door policy between management and other employees to promote openness and transparency? 15. Do you feel confident that you and your team can maintain objectivity and integrity as well as avoid conflicts of interest? What steps can you take to ensure you do? 16. Would you know what steps to take if you were asked to do something that challenges your ethical standards? 17. Have you undertaken professional development to improve your skills in gathering, understanding and using non-financial information to benefit your organization? If yes, what other professional development in regard to ethical performance would you benefit from? Copyright © 2011-2014 American Institute of CPAs. Copyright © 2011-2014 Chartered Institute of Management Accountants. All rights reserved. Reprinted with permission.

WashingtonCPA Fall 2014

For example, management accountants might be asked whether they challenged or raised and resolved an issue or an area of concern that could lead to fraud. For managers, does your team escalate issues and ask for clarification? Siemens’s strategy is to focus on bridging the communication gap between senior management and employees at the lower levels of the company. In the 2013 financial year, the company introduced “integrity dialogues” in which compliance refresher training is cascaded down through the company. Compliance officers provide training to the senior management of each business unit, who then train their own direct reports and so on. Individual operating units within the company enhance their training activities with additional topics that address challenges specific to them. In this ongoing part of the practice, leaders talk about integrity and explain how they themselves “walk the talk” in terms of how they do business. The dialogue is carried through to every sales meeting to bring about an open discussion on ethical issues and how they should be handled.

5 Monitoring and accountability

Effective speak-up arrangements, such as anonymous helplines, through which employees, contractors and other third parties can raise concerns in confidence about unsafe, unethical or unlawful practices are an important element of good corporate governance. A key component of these arrangements is that staff feel comfortable that they can raise issues without fear of retribution. Some companies report the number and nature of queries raised internally to the board and executive committee and include the information in company newsletters. Some provide a breakdown of the reports by country and as a percentage of the workforce. Enlightened companies now communicate internally about disciplinary actions taken when wrongdoing occurs. Some companies make this information public. Beverage company Diageo’s www.wscpa.org

CORPORATE ETHICS

annual sustainability report details the number of suspected breaches of the company’s code of ethics (743 in 2013), how many of these were later substantiated (376) and whether they were reported through the speak-up hotline (242) or raised directly with a line manager or the compliance department, for example. The report also states that 116 people exited the business in 2013 as a result of breaches of the company’s code or policies. Reporting in this way provides evidence that the company has procedures in place that are actually used and are effective in managing ethical misconduct. According to the report, Diageo routinely shares examples of breaches that have recently occurred or testimonials from colleagues who were tempted to do the wrong thing yet made the right decision. The company also keeps track of employees’ perceptions of integrity

www.wscpa.org

within the company through asking questions in a values survey.

The litmus test

The real litmus test of whether your ethics policy is working and embedded is if an employee feels comfortable enough to speak up if he or she has a concern and whether he or she believes the company will respond and, if need be, take appropriate action. Once an ethics policy is securely embedded in your company, you also have to take into account the wider value chain. Today’s complex and extended supply chain has significant implications for organizations’ ethical, governance and risk-management policies and practices. Therefore, it is advisable to conduct due diligence on new and existing suppliers alike, engaging them in ongoing discussions regarding your standards and contractual expectations.

For example, to engage a supplier base spanning 70 countries, UK-based retailer Marks & Spencer holds regular face-toface meetings with partners as well as an annual conference. The company has a website where suppliers can access tools, guidance and incentives. Helping to raise standards and awareness through the chain is beneficial for all. After all, good companies keep good company. This article first appeared in the June issue of CGMA Magazine. For more articles, sign up for the weekly email update from CGMA Magazine at http://bit.ly/UZ07NC. Reprinted with permission.

WashingtonCPA Fall 2014

WASHINGTON CPA FOUNDATION

“You’re making a huge impact in students’ lives. Thank you!”

Meet Tina Chen:

2014 Foundation Scholarship Recipient Get to know the 2014 student scholarship winners with a new series of videos. A new video will be released every two weeks, so stay tuned for some amazing testimonials from a standout group of aspiring CPAs! View Tina’s video at www.wscpa.org/foundation/videos

2015 Scholarship Applications Now Available Deadline: February 1, 2015 www.wscpa.org/become-a-cpa/scholarships

WashingtonCPA Fall 2014

CONTRIBUTE NOW at www.wscpa.org/foundation

Your contribution to the Washington CPA Foundation, a 501(c)(3) organization, is tax deductible.

www.wscpa.org

EVENTS

Networking events 2014

SPOKANE November 6

Chateau Rive - Spokane (15NPNV06)

Members $25 | Non-members $30

SPONSORS Premier Partners

SEATTLE November 19

Leadership Lens Breakfast: What Kind of Corporate Animal are You? (15NWNV19) - Renaissance Seattle Hotel $40 - 1.5 hrs CPE

HAPPY HOURS

Key Partners

Free casual networking events with free light appetizers. Registration optional. January 13 , 2015

Save the date!

CHAPTERS December 2 December 2

Supporters

Fees and registration policies vary.

Wicked Cellars Winter Wine Tasting, Everett (15CHSNDE2) Networking at R-Jay’s Scoreboard, Federal Way (15CHSKDE2) Friends

www.wscpa.org Contact Amy O’Donnell at aodonnell@wscpa.org

WashingtonCPA Fall 2014

CPE Digest NEW CPE events added throughout year to: www.wscpa.org/cpe/catalog

EVENTS BY LOCATION WSCPA education and events scheduled for November 2014 January 2015 are listed below, chronologically by location.

CS EB

If you are looking for a program in another location, it may be scheduled for later in the year.

PFP

SUBJECTS The main subject area is listed for each program.

Using the online CPE & Event Catalog at www.wscpa.org/cpe/ catalog, you can search by location. LEARN MORE To view complete course details, please visit the CPE & Event Catalog at www.wscpa.org/cpe/catalog.

A&A

Ethics GNP MG PD SK

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

TAX TEC

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

Fees Date

CPE Credits

Course

Type

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

Facility

WSCPA

A&A

WSCPA

A&A

Subject

Bellevue

11/5

Advanced FASB Review: Complex GAAP Issues, 8AM-4PM

15AFASBNV

295

370

11/5

Proposed Accounting for Leases and Revenue Recognition: What it Means to Your Firm/Company, 8AM-4PM

15ALRRNV

295

370

11/6

Fair Value Accounting, 8AM-4PM

15FVANV

295

370

-30

WSCPA

A&A

11/6

Slashing Taxes for Your Small Business Clients: Corporations, Partnerships & LLCs, 8AM-4PM

15STSBNV06

295

370

-30

WSCPA

TAX

11/7

A&A

IFRS vs. GAAP: What are the Differences? 8AM-4PM

15IUSANV

295

370

-30

WSCPA

Webast also available

15WBWIUSA

265

340

-30

Webcast

Rules Regulations and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement), 8AM-11:30AM

15ETTNNV10

185

220

WSCPA

Ethics

WSCPA

A&A

WSCPA

TAX

WSCPA

A&A

WSCPA

TAX

185

WSCPA

TAX

295

370

WSCPA

TEC

15S83NV

150

185

WSCPA

TAX

15QBPNV

295

370

WSCPA

TEC

Character of Income, 12:30PM-4PM

15COINV

150

185

WSCPA

TAX

New “Repair Regs”-Sec. 263, 8AM-4PM

15NRRNV

300

375

WSCPA

TAX

11/17

CFO Series-Bank Financing and Financial Statement Analysis, 8AM-4PM

15CFOSBNV

295

370

WSCPA

11/18

Preparing Complex 1040s, 8AM-4PM

15PCRNV

300

375

WSCPA

TAX

11/18

Creating Great Budgets: Maximizing Profits, People, and Power, 8AM-4PM

15CSCBNV

295

370

-30

WSCPA

11/19

Lean Accounting: Higher Profits by Streamlining Operations, 8AM-4PM

15LAMANV

295

370

-30

WSCPA

11/20

Washington State Community Property and Estate Tax Law Update, 8AM-4PM

15WKCPNV20

295

370

WSCPA

TAX

11/20

Vacation Home, Business Use of Home and Hobby Losses, 12:30PM-4PM

15VHBNV

150

185

WSCPA

TAX

11/20

Discharge of Debt Rules, 8AM-11:30AM

15DODRNV

150

185

WSCPA

TAX

11/10

11/11

Internal Control Best Practices for Small and Medium-Sized Entitles, 8AM-4PM

15ICSMNV

295

370

11/12

THE PROCESS OF RECOVERY Income Tax Reporting and Income Tax Benefits, 8AM-4PM

15PRTRNV

305

385

11/12

Digging Deeper with Data Analysis, 8AM-4PM

15DDDANV

295

370

11/13

Imputed Interest and Original Issue Discount, 12:30PM-4PM

15II0NV

150

185

11/13

Interest Expense in Depth, 8AM-11:30AM

15IEDNV

150

11/13

Excel Best Practices, 8AM-4PM

15EBPNV

11/14

Section 83-Property for Services, 8AM-11:30AM

11/14

QuickBooks for Accountants, 8AM-4PM

11/14

11/17

ç New |  Non-tech credits |

-30

WashingtonCPA Fall 2014

Networking event

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 Discount Fee Fee

Facility

Subject

11/21

Like-Kind Exchanges and Involuntary Conversions, 8AM-4PM

15EXCHNV

295

370

WSCPA

TAX

11/24

Create Reports that Matter:-Turn Information into Action, 8AM-4PM

15CRMNV

295

370

WSCPA

11/24

What’s next: 10 Success Factors to Best Manage Retirement, 8AM-4PM

15WNSFNV

295

370

WSCPA

11/25

Only Financial Officer-Skills for Smaller Company Financial Managers, 8AM-4PM

15OFONV

295

370

WSCPA

12/1

Alternative Minimum Tax (AMT), 8AM-4PM

15AMTDE

300

375

WSCPA

TAX

12/1

Washington Tax and New Developments by Mark Hugh, 8AM-4PM

15WSTXDE01

295

370

WSCPA

TAX

12/2-3

Tax Staff Training-Level 2-Business, 8AM-4PM

15TSTBDE

515

630

WSCPA

TAX

12/2

The Best S Corporation, Limited Liability and Partnership Update Course, 8AM4PM

15BCPEDE

310

385

WSCPA

TAX

12/3

TAX

Tips and Tricks for Handling IRS Disputes, 8AM-4PM

15DIRSDE

295

370

-30

WSCPA

Webcast also available

15WBWDIRS

265

340

-30

Webcast

-30

12/4

Annual Tax Update: Corporations and Pass-Through Entitles, 8AM-4PM

15ATCPDE

295

370

WSCPA

TAX

12/4

What Board Treasurers Need to Know, 8AM-11:30AM

15WBTNDE

145

180

WSCPA

GNP

12/5

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement), 8AM-11:30AM

15ETMHDE05

185

220

WSCPA

Ethics

12/5

Fraud Conference, 8AM-4:20PM

15FDC

270

345

Meydenbauer Center

12/8-9

16 u

Information Technology Conference, 8AM-4PM

15ITC

615

690

Meydenbauer Center

TEC

12/8

Advanced Tax Strategies for LLCs and Partnerships, 8AM-4PM

15DTTDE

295

370

WSCPA

TAX

12/8-9

Partnership Taxation, 8AM-4PM

15PTSDE

505

620

WSCPA

TAX

12/9

Taxation for Individuals Living Abroad, 8AM-4PM

15TILADE

295

370

-30

WSCPA

TAX

Webcast also available

15WBWTILA

265

340

-30

Webcast

-30

12/10

Fundamentals of Trusts: What You Need to Know, 8AM-4PM

15FATDE

295

370

WSCPA

TAX

12/10

CFO Series-Financial Statement and Cash Flow Forecasting and Modeling, 8AM4PM

15CFOSFDE

295

370

WSCPA

Webcast also available

15WBWCFOSF

265

340

Webcast

12/11

The 8 Hour MBA-Adding Value, 8AM-4PM

15MBAAVDE

295

370

WSCPA

12/12

The 8 Hour MBA-Business Strategy, 8AM-4PM

15MBABSDE

295

370

WSCPA

12/15

Gaining and Sustaining a Competitive Advantage: Keys to Boost the Bottom Line, 8AM-4PM

15GSCADE

295

370

WSCPA

12/15

Passive Activity Losses A to Z, 8AM-4PM

15PALDE

295

370

WSCPA

TAX

12/16

Fiduciary Income Tax Returns-Form 1041 Workshop, 8AM-4PM

151041DE

310

385

WSCPA

TAX

12/16

Imputed Interest and Original Issue Discount, 8AM-11:30AM

15II0DE

150

185

WSCPA

TAX

12/16

Unraveling the At Risk Rules, 12:30PM-4PM

15UARDE

150

185

WSCPA

TAX

12/17

Form 990: A Comprehensive Approach to Accurate Preparation, 8AM-4PM

15EOF990DB

295

370

WSCPA

TAX

Accounting and Reporting Standards: An Update and Review of GAAP, Special Purpose Frameworks, Comp, Review, and Auditing Standards by Walter Haig, 8AM-4PM

15ARSURDE

570

685

WSCPA

A&A

Webcast

12/18-19 16

-30

Webcast also available

15WWARSURD

510

625

12/22

Auditing Standards Update and Review by Walter Haig, 8AM-4PM

15AUURDE

315

390

WSCPA

A&A

12/22

S Corporations: Key Issues, Compliance, and Tax Strategies, 8AM-4PM

15SCORPDE

295

370

-30

WSCPA

TAX

Webcast also available

15WBWSCORP

265

340

-30

Webcast

12/23

The Personal Financial Health Checkup: A Process on How to Become Financially Self-Sufficient by Walter Haig, 8AM-4PM

15PFHCDE

315

390

12/23

WSCPA

A&A TAX

Hottest Tax Topics for 2014, 8AM-4PM

15HOTDE

295

370

-30

WSCPA

Webcast also available

15WBWHOT

265

340

-30

Webcast

12/29

Compilation and Review Standards: the Annual Update and Review by Walter Haig, 8AM-4PM

15CRURDE

315

390

WSCPA

A&A

12/30

Preparing Financial Statements for Small & Med Sized Businesses: An Update & Review of GAAP & Tax, Cash and Special Purpose Frameworks by Walt Haig, 8AM4PM

15ASURDE

315

390

WSCPA

A&A

12/31

The Business Financial Health Checkup: A Process to Identify Misstatements and Profitability Roadblocks Using Analytical Procedures by Walter Haig, 8AM-4PM

15BFHCDE

315

390

WSCPA

A&A

Compilation and Review Annual Update, 8AM-4PM

15CRAUDNV

295

370

Best Western Plus Lakeway Inn

A&A

Bellingham 11/24

ç New |  Non-tech credits |

www.wscpa.org

Networking event

WashingtonCPA Fall 2014

EDUCATION AND EVENTS

Fees Date

CPE Credits

Course

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

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

11/25

Financial Statement Analysis-A Realistic Approach, 8AM-4PM

15FSPDNV

295

370

Best Western Plus Lakeway Inn

A&A

12/9

Washington Tax and New Developments by Mark Hugh, 8AM-4PM

15WSTXDE09

295

370

Best Western Plus Lakeway Inn

TAX

12/10

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement), 8AM-11:30AM

15ETMHDE10

185

220

Best Western Plus Lakeway Inn

Ethics

12/15

Federal Tax Update-Individual & Business Current Developments, 8AM-4PM

15FTCDDE

295

370

Best Western Plus Lakeway Inn

TAX

Bothell 11/18

Taxation Essentials of LLCs and Partnerships, 8AM-4PM

15TLLLONV

295

370

-30

Hilton Garden Inn Bothell

TAX

11/19

Health Care Reform Act: Critical Tax and Insurance Ramifications, 8AM-4PM

15HCRANV

295

370

-30

Hilton Garden Inn Bothell

TAX

12/1

Rules Regulations and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement), 8AM-11:30AM

15ETTNDE1

185

220

Hilton Garden Inn Bothell

Ethics

11/5

l S

Watching the Bottom Line: How to Prevent Fraud in Business, 12PM-2PM

15CHNWNV5

Silver Reef Casino

11/19

South Sound Industry TBA, 7:30AM-9:30AM

15CMSSINV

Poodle Dog Restaurant

12/17

Health Care Update, 7:30AM-9:30AM

15CMSSIDE

Poodle Dog Restaurant

1/21

Federal Tax Update, 7:30AM-9:30AM

15CMSSIJA

Poodle Dog Restaurant

TAX

Federal Tax Update-Individual & Business Current Developments, 8AM-4PM

15FTCDNV

295

370

Three Rivers Conv Ctr

TAX

Rules Regulations and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement), 8AM-11:30AM

15ETTNNV18

185

220

Three Rivers Conv Ctr

Ethics

Ferndale ç Fife

Kennewick 11/17

11/18

Lynnwood 12/16

Federal Tax Update Individuals (Form 1040), 8AM-4PM

15FTUIDE

295

370

Lynnwood Convention Ctr

TAX

12/17

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

15FTUBDE

295

370

Lynnwood Convention Ctr

TAX

Olympia 11/5

l S

Research & Development / Cost Segregation, 12PM-2PM

15CHOLNV5

Indian Summer Golf

12/3

l S

Cybersecurity, 12PM-2PM

15CHOLDE3

Indian Summer Golf

Seattle 11/7

Annual Tax Update: Individuals and Sole Proprietors, 8AM-4PM

15TSUINV

295

370

Best Western Plus Exec Inn

TAX

11/18

Federal Tax Update Individuals (Form 1040), 8AM-4PM

15FTUINV

295

370

Best Western Plus Exec Inn

TAX

11/19

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

15FTUBNV

295

370

Best Western Plus Exec Inn

TAX

11/20-21 16 u

Not-For-Profit Conference, 8AM-4:30PM

15NFPC

470

545

Bell Harbor Intl Conf Ctr

A&A

12/12

Washington CPA Regulatory Ethics by James Rigos (A WA Requirement), 8AM11:30AM

15ETJRDE12

185

220

Best Western Plus Exec Inn

Ethics

12/16

Annual Update for Controllers, 8AM-4PM

15SKSBDE

295

370

Best Western Plus Exec Inn

Chateau Rive

Hampton Inn Spokane

TEC

The Spokane Club

-30

Spokane

11/6

Chateau Rive, 6PM-8:30PM

15NPNV06

11/11

Advanced Excel, 8AM-4PM

15ADENV

295

370

11/12

E. Clair Daniels Symposium, 12PM-2PM

15CHSPNV12

11/12

Paperless Office, 8AM-4PM

15PPONV

295

370

Hampton Inn Spokane

TEC

11/13

Fiduciary Income Tax Returns-Form 1041 Workshop, 8AM-4PM

151041NV

310

385

Hampton Inn Spokane

TAX

11/14

Federal Estate and Gift Tax Returns-Forms 706-709 Workshop, 8AM-4PM

15GIFTNV

310

385

Hampton Inn Spokane

TAX

11/19

Rules Regulations and Ethics for CPAs in Washington by Thomas Neill (A WA Requirement), 8AM-11:30AM

15ETTNNV19

185

220

Hampton Inn Spokane

Ethics

11/21

Washington State Community Property and Estate Tax Law Update, 8AM-4PM

15WKCPNV21

295

370

Hampton Inn Spokane

TAX

l S

ç New |  Non-tech credits |

WashingtonCPA Fall 2014

Networking event

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 Discount Fee Fee

Facility

Subject

11/24

Preparing Financial Statements for Small & Med Sized Businesses: An Update & Review of GAAP & Tax, Cash and Special Purpose Frameworks by Walt Haig, 8AM4PM

15ASURNV

315

390

Hampton Inn Spokane

A&A

11/25

Compilation and Review Standards: the Annual Update and Review by Walter Haig, 8AM-4PM

15CRURNV

315

390

Hampton Inn Spokane

A&A

12/3

Surgent McCoy’s Handbook for Mastering Basis, Distributions and Loss Limitation Issues, 8AM-4PM

15HMBIDE

310

385

Hampton Inn Spokane

TAX

12/4

The Top 50 Mistakes Practitioners Make and How to Fix Them: Individual Tax and Financial Planning, 8AM-4PM

15INBBDE

310

385

Hampton Inn Spokane

TAX

12/5

Getting More Active With the Passive Activity Rules and the New Net Investment Tax, 8AM-4PM

15PAITDE05

310

385

Hampton Inn Spokane

TAX

12/8

The Best Individual Income Tax Update Course by Surgent McCoy, 8AM-4PM

15BITUDE

310

385

Mirabeau Park Hotel

TAX

12/9

The Complete Guide to Payroll Taxes and 1099 Issues, 8AM-4PM

15CGPTDE

310

385

Mirabeau Park Hotel

TAX

12/15

Form 990: A Comprehensive Approach to Accurate Preparation, 8AM-4PM

15EOF990DE

295

370

Hampton Inn Spokane

TAX

12/17

Surgent McCoy’s Advanced Individual Income Tax Return Issues, 8AM-4PM

15STRIDE

310

385

Hampton Inn Spokane

TAX

-30

Tacoma Larry Stein’s Getting Ready For Tax Season-Individual Clients, 8AM-4PM

15LSGINV

300

375

Courtyard Marriott

TAX

Washington CPA Regulatory Ethics by James Rigos (A WA Requirement), 8AM11:30AM

15ETJRNV11

185

220

Courtyard Marriott

Ethics

Surgent McCoy’s Advanced Critical Tax Issues for Limited Liability Companies, 8AM-4PM

15ACTLDE

310

385

Courtyard Marriott

TAX

12/2

Annual Update for Compilation and Review Engagements, 8AM-4PM

15CORUDE

295

370

-30

Courtyard Marriott

A&A

12/3

Update for Accountants and Auditors, 8AM-4PM

15AUAADE

295

370

-30

Courtyard Marriott

A&A

12/15

Effectively and Efficiently Reviewing Tax Returns in Busy Season, 8AM-4PM

15ERTWDE

310

385

Courtyard Marriott

TAX

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement), 8AM-11:30AM

15ETMHNV18

185

220

Heathman Lodge

Ethics

11/5

11/11

12/1

Vancouver 11/18

12/9

Getting More Active With the Passive Activity Rules and the New Net Investment Tax, 8AM-4PM

15PAITDE09

310

385

Heathman Lodge

TAX

12/10

The Best Federal Tax Update Course by Surgent, 8AM-4PM

15BFTUDE

310

385

Heathman Lodge

TAX

Yakima ç

11/11

l S

Tribal Business Relations and Operations, 7:30AM-9:30AM

15CHYKNV11

Howard Johnson Plaza

GNP

12/9

l S

Food/Ag Focus, 7:30AM-9:30AM

15CHYKDE09

Howard Johnson Plaza

Your Desk - Webcasts and Webinars 11/5

GST Tax From A to Z (25% CA Content) WEBCAST, 8:30AM-4:30PM

15WBCNV05B

275

375

Webcast

TAX

11/5

Deal Structure for Mergers and Acquisitions WEBCAST, 8:30AM-4:30PM

15WBCNV05A

275

375

Webcast

TAX

11/5

Fraud and Abuse in Government Entities WEBINAR, 7AM-9AM

15WNCNV05A

Webinar

GNP

11/5

Fraud and Abuse in Nonprofits WEBINAR, 10AM-12PM

15WNCNV05B

Webinar

GNP

11/5

Doing Business With the IRS-Part 3: IRS Penalties and How to Get Them Abated WEBCAST, 9AM-11AM

15WBANV05A

109

Webcast

TAX

11/6

Auditing of Employee Benefit Plans WEBCAST, 8:30AM-4PM

15WBCNV06A

275

375

Webcast

A&A

11/6

Accounting’s Perfect Storm 2014 Update: Four Issues That Might Change Financial Reporting As You Know It! WEBCAST, 8AM-12PM

15WBANV06A

129

159

Webcast

A&A

11/6

Excel-Charts and Formatting For a Non-Financial Audience WEBINAR, 8AM-10AM 15WNCNV06A

Webinar

TEC

11/6

Fraud: 2014 Alert for Small and Mid-Sized Entities WEBINAR, 9AM-11AM

15WNCNV06B

Webinar

A&A

11/6

Reformatted Financial Statements: Inaction Can Lead to Complacency WEBCAST, 11AM-3PM

15WBANV06B

129

159

Webcast

A&A

11/6

Stocks, Bonds and Mutual Funds: A Comprehensive Guide to Successful Investing WEBCAST, 8:30AM-4PM

15WBCNV06C

275

375

Webcast

PFP

11/6

Retirement Advising: Accumulation and Decumulation Strategies WEBCAST, 8:30AM-4PM

15WBCNV06B

275

375

Webcast

PFP

11/7

Tax Issues of Same Sex Couples WEBINAR, 10AM-12PM

15WNCNV07C

Webinar

TAX

11/7

Travel & Entertainment Expenses: Review & Update WEBINAR, 7AM-9AM

15WNCNV07A

Webinar

TAX

ç New |  Non-tech credits |

www.wscpa.org

Networking event

WashingtonCPA Fall 2014

EDUCATION AND EVENTS

Fees Date

CPE Credits

Type

11/7

11/7 11/7

Course

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Critical Thinking Skills for Finance and Accounting Professionals WEBINAR, 9AM11AM

15WNCNV07B

Webinar

Family Law Conference (25% CA Content) WEBCAST, 8:30AM-4:30PM

15WBCNV07A

325

425

Webcast

1099 Changes and Best Practices WEBCAST, 10:30AM-12:30PM

15WBANV07B

109

Webcast

TAX

11/7

IFRS vs. GAAP: What are the Differences? WEBCAST, 8AM-4PM

15WBWIUSA

265

340

Webcast

A&A

11/7

Internal Controls for Technology to Mitigate Risk and Loss WEBCAST, 10AM-2PM

15WBANV07A

129

159

Webcast

11/10

The CFO: 5 Critical Skills to Become a Leader WEBINAR, 8AM-10AM

15WNCNV10B

Webinar

11/10

Live Video Interview with an ex-Con Now a CPA WEBINAR, 7AM-9AM

15WNCNV10A

Webinar

A&A

11/10

Leases: Past, Present and Future WEBCAST, 8:30AM-4PM

15WBCNV10A

275

375

Webcast

A&A

11/10

Doing Business With the IRS-Part 5: Representing Clients Before the IRS Appeals Office WEBCAST, 9AM-11AM

15WBANV10A

109

Webcast

TAX

11/10

The CFO: 5 Critical Skills to Maximize Profits WEBINAR, 11AM-1PM

15WNCNV10C

Webinar

11/11

Live Video Interview with Ponzi Expert Kathy Bazoian Phelps WEBINAR, 7AM-9AM 15WNCNV11A

Webinar

A&A

11/11

Annual Compilation Update – A Seminar Designed for Smaller Firms 2014 EVENING WEBCAST, 4PM-8PM

15WBSNV11A

129

159

Webcast

A&A

-30

11/11

The New Compilation and Review Standards WEBCAST, 8:30AM-4:30PM

15WBCNV11A

275

375

Webcast

A&A

11/11

Doing Business With the IRS-Part 6: Notice of Deficiency, Notice of Determination, 15WBANV11B and Tax Litigation WEBCAST, 9AM-11AM

109

Webcast

TAX

11/11

Accounting IS Changing! Are YOU Ready? Predictive Not Historic – Module III WEBCAST, 8AM-10AM

15WBANV11A

109

Webcast

A&A

11/11

Accounting IS Changing! Are YOU Ready? Accounting as Business Partner– Module IV WEBCAST, 10AM-12PM

15WBANV11C

109

Webcast

A&A

11/11

The CFO’s Role in Compensation and Incentive Plans WEBINAR, 9AM-11AM

15WNCNV11B

Webinar

11/12

Audit Standards Update: Clarifying Risk Assessment WEBCAST, 8:30AM-4PM

15WBCNV12A

275

375

Webcast

A&A

11/12

How to be Productive with Windows 8 WEBINAR, 9AM-11AM

15WNCNV12B

Webinar

TEC

11/12

Not-for-Profit Organizations: Accounting and Auditing Principles WEBCAST, 8:30AM-4PM

15WBCNV12B

275

375

Webcast

GNP

11/12

THE PROCESS OF RECOVERY Income Tax Reporting and Income Tax Benefits WEBCAST

15WWPRTR

275

355

Webcast

TAX

11/12

Everything CPAs Need to Know About Detecting Ponzi Schemes WEBINAR, 7AM-9AM

15WNCNV12A

Webinar

A&A

11/12

Live Video Interview with Embezzler Amy Wilson WEBINAR, 10AM-12PM

15WNCNV12C

Webinar

A&A

11/12

Planning Issues with LLCs WEBCAST, 7AM-8AM

15WBANV12A

Webcast

TAX

11/12

Accountants’ Nondisclosure Exposure: Recent Cases and Controversies WEBCAST, 7:30AM-9:30AM

15WBANV12B

109

Webcast

A&A

11/13

2014 A CPAs Guide to Choice of Entity WEBCAST, 7AM-3PM

15WBANV13A

195

245

Webcast

TAX

11/13

Business Succession Planning and Exit Strategies WEBCAST, 8:30AM-4PM

15WBCNV13B

275

375

Webcast

11/13

Yellow Book Update WEBCAST, 11AM-7PM

15WBANV13B

195

245

Webcast

GNP

11/13

Oil and Gas Taxation: Nuts and Bolts WEBCAST, 8:30AM-4:30PM

15WBCNV13A

275

375

Webcast

TAX

11/13

The ZZZZ Best Story: Ex-Con, Z Best CFO, Shares Techniques On How To Detect And Prevent Fraud WEBINAR, 8AM-10AM

15WNCNV13A

Webinar

A&A

11/14

Creating the Best Projections You Can WEBCAST, 9AM-11AM

15WBANV14C

109

Webcast

A&A

11/14

Fraud-Detection Controls & Technology WEBCAST, 8AM-10AM

15WBANV14B

Webcast

A&A

11/14

Preparation of Forms 1040NR and 540NR for the Visiting Non-U.S. Citizen WEBCAST, 8:30AM-4PM

15WBCNV14B

275

375

Webcast

TAX

Church and Minister Taxation WEBCAST, 8:30AM-4PM

15WBCNV14A

275

375

Webcast

TAX

Become the Best: Lessons from Great Companies WEBINAR, 8AM-10AM

15WNCNV14A

Webinar

11/14

Business Turnaround WEBCAST, 7AM-11AM

15WBANV14A

129

159

Webcast

11/15

Technology Update for Industry SATURDAY WEBCAST, 10AM-2PM

15WBSNV15A

129

159

Webcast

TEC

11/15

Get Your Notes Organized With Microsoft OneNote SATURDAY WEBINAR, 7AM-9AM

15WNSNV15A

Webinar

TEC

11/17

How Will You Handle the New Revenue Recognition Standard? WEBINAR, 7AM9AM

15WNCNV17A

Webinar

A&A

11/17

FLSA and Other Hot Compensation Topics WEBCAST, 8AM-9AM

15WBANV17C

Webcast

ç New |  Non-tech credits |

WashingtonCPA Fall 2014

Networking event

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 Discount Fee

Facility

Subject

11/17

U.S. GAAP and IFRS Update WEBCAST, 8:30AM-4:30PM

15WBCNV17B

275

375

Webcast

A&A

11/17

What’s New in A & A? WEBINAR, 10AM-12PM

15WNCNV17C

Webinar

A&A

11/17

Creating Better Budgets: Plan for the Unknown WEBINAR, 9AM-11AM

15WNCNV17B

Webinar

11/17

Investment Planning Re-created: New Strategies for Today’s Environment WEBCAST, 8:30AM-4PM

15WBCNV17A

275

375

Webcast

PFP

11/17

Internal Controls for Technology to Mitigate Risk and Loss WEBCAST, 7AM-11AM

15WBANV17B

129

159

Webcast

11/17

401(k)s and Retirement Plans For Small Businesses WEBCAST, 7AM-9AM

15WBANV17A

109

Webcast

11/18

Google Business Tools for Accountants WEBINAR, 9AM-11AM

15WNCNV18B

Webinar

TEC

11/18

Marketing Management for CFOs and Other Financial Managers WEBCAST, 8AM10AM

15WBANV18A

109

Webcast

11/18

Preparing for a CFO Role WEBCAST, 11AM-12PM

15WBANV18C

Webcast

11/18

What Your Broker Won’t Tell You About Insurance Planning WEBCAST, 8:30AM4PM

15WBCNV18B

275

375

Webcast

PFP

11/18

Retirement Distributions: Planning Options WEBCAST, 8:30AM-4PM

15WBCNV18A

275

375

Webcast

TAX

11/18

Banking Realtions and Debt Restructuring WEBCAST, 8:30AM-9:30AM

15WBANV18B

Webcast

11/18

Profitable Pricing: Accounting’s Role WEBINAR, 9AM-11AM

15WNCNV18A

Webinar

11/19

Live Video Interview with Forgery Expert Cina Wong WEBINAR, 8AM-10AM

15WNCNV19A

Webinar

A&A

11/19

Live Video Interview with Ex-CPA Ex-CFO Criminal Sam Antar WEBINAR, 11AM1PM

15WNCNV19D

Webinar

A&A

11/19

S Corporation Preparation, Basis Calculations and Distributions: Schedule K and K1 15WBCNV19B (Form 1120S) Analysis WEBCAST, 8:30AM-4PM

275

375

Webcast

TAX

11/19

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement) WEBCAST, 8AM-12PM

15WBANV19A

164

194

Webcast

Ethics

11/19

Pension and Profit-Sharing Plan Strategies WEBCAST, 8:30AM-4PM

15WBCNV19A

275

375

Webcast

PFP

11/19

Becoming the Hero-Capital Gain Tax Strategies WEBINAR, 9AM-11AM

15WNCNV19B

Webinar

TAX

11/19

Washington Sales Tax and New Developments by Mark Hugh WEBCAST, 12PM4PM

15WBANV19B

129

159

Webcast

TAX

11/19

Excel-Preparing Your Source Data for Analysis WEBINAR, 10AM-12PM

15WNCNV19C

Webinar

TEC

11/20

Fraud: 5 New Cases for 2014 WEBINAR, 9AM-11AM

15WNCNV20B

11/20

16 u

Not-for-Profit Conference WEBCAST, 8AM-4:30PM

15WBNFPC

11/20

Webinar

A&A

420

495

Webcast

A&A

Punctuation That Counts: Catch Your Mistakes Before Your Readers Do! WEBCAST, 15WBANV20A 8AM-9AM

Webcast

Crowdsourcing and Collaborative Consumption Tools for Accountants WEBINAR, 12PM-2PM

15WNCNV20D

Webinar

TEC

11/20

Partnership Preparation, Basis Calculations and Distributions: Form 1065 Schedule K & K1 Analysis WEBCAST, 8:30AM-4PM

15WBCNV20A

275

375

Webcast

TAX

11/20

The CFOs Role in Strategic Risk Management WEBCAST, 9AM-11AM

15WBANV20D

109

Webcast

11/20

The CFOs Role in Stategy Development WEBCAST, 7AM-9AM

15WBANV20C

109

Webcast

11/20

Writing That Sells! How to Influence and Persuade on Paper WEBCAST, 9AM10AM

15WBANV20B

Webcast

11/20

10 Steps to a Digital Office in the Cloud WEBINAR, 10AM-12PM

15WNCNV20C

Webinar

TEC

11/20

Live Video Interview with Ex-Con Purchasing Agent Vern Beck WEBINAR, 7AM9AM

15WNCNV20A

Webinar

A&A

11/21

Taking Your Business Paperless WEBCAST, 7AM-12PM

15WBANV21B

129

159

Webcast

11/21

The Financial Manager’s Role in Risk Analysis and Management WEBINAR, 11AM1PM

15WNCNV21A

Webinar

A&A

11/21

Contemporary Cost Concepts: Understanding Activity-Based Costing WEBCAST, 7AM-9AM

15WBANV21A

109

Webcast

A&A

11/21

Advanced Auditing of HUD-Assisted Projects WEBCAST, 8:30AM-4PM

15WBCNV21A

275

375

Webcast

GNP

11/22

Contemporary Cost Concepts: Understanding Activity-Based Costing SATURDAY WEBCAST, 9AM-11AM

15WBSNV22A

109

Webcast

A&A

11/24

The Top 10 Legal Mistakes Companies Make and How to Avoid Them WEBCAST, 9AM-11AM

15WBANV24A

109

Webcast

11/24

Yellow Book Update EVENING WEBCAST, 3PM-11PM

15WBSNV24A

195

245

Webcast

GNP

11/24

Bitcoin-What You Should Know About This Digital Currency WEBINAR, 8AM10AM

15WNCNV24A

Webinar

TEC

ç New |  Non-tech credits |

www.wscpa.org

Networking event

WashingtonCPA Fall 2014

EDUCATION AND EVENTS

Fees Date

CPE Credits

Type

11/24

11/25

ç ç

Course

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Live Video Interview with Gov’t Fraud Expert Dennis Dycus WEBINAR, 10AM12PM

15WNCNV24B

Webinar

GNP

The Digital Office-Infrastructure and the Cloud WEBINAR, 11AM-1PM

15WNCNV24C

Webinar

TEC

Live Video Interview with ex-CPA Embezzler Chuck Gallagher WEBINAR, 3PM5PM

15WNCNV25C

Webinar

A&A

11/25

Travel & Entertainment Expenses: Review & Update WEBINAR, 9AM-11AM

15WNCNV25A

Webinar

TAX

11/25

Tax Depreciation: Review & Update WEBINAR, 12PM-2PM

15WNCNV25B

Webinar

TAX

11/25

Financial Statement Presentation and Disclosure-Part 2 EVENING WEBCAST, 2PM-6PM

15WBSNV25A

129

159

Webcast

A&A

11/25

Annual Compilation Update – A Seminar Designed for Smaller Firms 2014 WEBCAST, 7AM-11AM

15WBANV25A

129

159

Webcast

A&A

11/25

Financial Statement Presentation and Disclosure-Part 1 EVENING WEBCAST, 4PM-8PM

15WBSNV25B

129

159

Webcast

A&A

11/26

Live Video Interview with Pulitzer Winner Michael Sallah WEBINAR, 8AM-10AM

15WNCNV26B

Webinar

A&A

11/26

Adding Social Networking to Your Marketing Plan-Real World Advice! WEBCAST, 10AM-2PM

15WBANV26A

129

159

Webcast

11/26

The Digital Office-Securing Your System WEBINAR, 7AM-9AM

15WNCNV26A

Webinar

TEC

12/1

Fraud: 10 Scary Cases in Compilations and Reviews WEBINAR, 11AM-1PM

15WNCDE01C

Webinar

A&A

12/1

Profitable Pricing: Accounting’s Role WEBINAR, 9AM-11AM

15WNCDE01B

Webinar

12/1

Federal Tax Update: Individuals (Form 1040)WEBCAST, 8:30AM-4:30PM

15WBCDE01A

275

375

Webcast

TAX

12/1

Fraud: 10 Scary Cases in Audits WEBINAR, 8AM-10AM

15WNCDE01A

Webinar

A&A

12/2

The CFO’s Role in Compensation and Incentive Plans WEBINAR, 9AM-11AM

15WNCDE02A

Webinar

12/2

Introduction to XBRL: New Opportunities for CPAs WEBCAST, 8:30AM-4PM

15WBCDE02B

275

375

Webcast

TEC

12/2

Data Visualization and Mapping Tools for Accountants WEBINAR, 12PM-2PM

15WNCDE02B

Webinar

TEC

12/2

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

15WBCDE02A

275

375

Webcast

TAX

12/2

Live Video Interview with Elder Fraud Expert David Kessler WEBINAR, 3PM-5PM

15WNCDE02C

Webinar

A&A

12/2

1099 Changes and Best Practices WEBCAST, 10:30AM-12:30PM

15WBADE02A

109

Webcast

TAX

12/2

Outstanding Client Service-10 Keys to Win Cases, Create Client Statisfaction and Get Referrals EVENING WEBCAST, 4PM-9PM

15WBSDE02A

139

159

Webcast

12/3

Time Hacks: Proven Ways to Save Time, Money and Get More for Less WEBINAR, 9AM-11AM

15WNCDE03B

Webinar

Fraud and Abuse in Nonprofits WEBINAR, 10AM-12PM

15WNCDE03C

Webinar

GNP

Tips and Tricks for Handling IRS Disputes WEBCAST, 8AM-4PM

15WBWDIRS

265

340

Webcast

TAX

Preparing Complex 1040s WEBCAST, 8:30AM-4:30PM

15WBCDE03A

275

375

Webcast

TAX

Fraud and Abuse in Government Entities WEBINAR, 7AM-9AM

15WNCDE03A

Webinar

GNP

12/3

Federal Tax Implications of Health Care Reform WEBCAST, 8:30AM-4PM

15WBCDE03B

275

375

Webcast

TAX

12/4

The Private Company Council (PCC) In Focus: Accounting Update for Nonpublic Entities WEBCAST, 8:30AM-4:30PM

15WBCDE04B

275

375

Webcast

A&A

12/4

Give Your Elevator Speech a Lift WEBCAST, 8AM-9AM

15WBADE04A

Webcast

12/4

Excel-Preparing Your Source Data for Analysis WEBINAR, 11AM-1PM

15WNCDE04A

Webinar

TEC

12/4

Internal Controls for Technology to Mitigate Risk and Loss EVENING WEBCAST, 2PM-6PM

15WBSDE04A

129

159

Webcast

-30

12/4

2014 Understanding the Purchase and Sale of Business WEBCAST, 7AM-3PM

15WBADE04B

195

225

Webcast

TAX

12/4

Small Business Internal Control, Security and Fraud Prevention and Detection WEBCAST, 8:30AM-4PM

15WBCDE04A

275

375

Webcast

A&A

12/5

Accounting’s Perfect Storm 2014 Update: Four Issues That Might Change Financial Reporting As You Know It! WEBCAST, 11AM-3PM

15WBADE05B

129

159

Webcast

A&A

12/5

Reformatted Financial Statements: Inaction Can Lead to Complacency WEBCAST, 8AM-12PM

15WBADE05C

129

159

Webcast

A&A

12/5

Understand Inventory Accounting: GAAP, Software and Variance Recognition Basics WEBCAST, 7AM-9AM

15WBADE05A

109

Webcast

A&A

12/5

Excel-Charts and Formatting For a Non-Financial Audience WEBINAR, 8AM-10AM 15WNCDE05C

Webinar

TEC

12/5

Live Video Interview with an ex-Con Now a CPA WEBINAR, 7AM-9AM

Webinar

A&A

ç New |  Non-tech credits |

15WNCDE05A

WashingtonCPA Fall 2014

Networking event

www.wscpa.org

Ballerina Betty, CPA

I love the freedom of taking CPE via webcasts. I can take CPE and do a bit of stretching at the same time.

WEBCASTS live from the W S C PA Take advantage of the Society’s most popular classes from your home, office, even the ballet studio. Look for this icon in the Digest course listing.

Nov 7

IFRS vs. GAAP: What are the Differences? WEBCAST

Dec 3

Tips and Tricks for Handling IRS Disputes WEBCAST

Dec 9

Taxation for Individuals Living Abroad WEBCAST

Dec 10 CFO Series-Financial Statement and Cash Flow Forecasting and Modeling WEBCAST Dec 22 S Corporations: Key Issues, Compliance, and Tax Strategies WEBCAST Dec 23 Hottest Tax Topics for 2014 WEBCAST Jan 26

2014 Tax Advisors Update WEBCAST

Jan 30

AICPA’s Annual Federal Tax Update WEBCAST

Mar 20 CFO Series-Valuation, Acquisitions, Capital Projects and Leveraged Buyouts WEBCAST Mar 23 Advanced Controller and CFO Skills WEBCAST

Mar 24 Creating Great Budgets: Maximizing Profits, People, and Power WEBCAST May 8

CFO Series-Financing a Privately Owned Company WEBCAST

WashingtonCPA Fall 2014

EDUCATION AND EVENTS

Fees Date

CPE Credits

# 12/5

Course

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

Type

B Corporations and L3Cs: New Corporate Forms for Responsible Businesses WEBINAR, 9AM-11AM

15WNCDE05B

Facility

Subject

Webinar

WSCPA NonAICPA Member Member Member Discount Fee Fee

12/6

The Digital Office-Securing Your System SATURDAY WEBINAR, 7AM-9AM

15WNSDE06A

Webinar

TEC

12/8

FASB and AICPA Update: Practical Guidance WEBCAST, 8:30AM-4PM

15WBCDE08A

275

375

Webcast

A&A

12/8

The ZZZZ Best Story: Ex-Con, Z Best CFO, Shares Techniques On How To Detect And Prevent Fraud WEBINAR, 7AM-9AM

15WNCDE08A

Webinar

A&A

12/8

2014 Key Tax Issues for Individuals WEBINAR, 9AM-11AM

15WNCDE08B

Webinar

TAX

12/8

2014 Key Tax Issues for Corprations WEBINAR, 12PM-2PM

15WNCDE08C

Webinar

TAX

12/8

Wine Industry Conference WEBCAST, 8:30AM-4:30PM

15WBCDE08C

325

425

Webcast

12/8

Preparing Form 706: The Federal Estate Tax Return WEBCAST, 8:30AM-4:30PM

15WBCDE08B

275

375

Webcast

TAX

12/9

Employee Benefit Plan Disclosures WEBCAST, 7AM-8AM

15WBADE09B

Webcast

A&A

12/9

Hedging Risks of Foreign Operations and Currency Transactions WEBCAST, 8:30AM-4PM

15WBCDE09D

275

375

Webcast

A&A

12/9

Live Video Interview with Forgery Expert Cina Wong WEBINAR, 10AM-12PM

15WNCDE09B

Webinar

A&A

12/9

Form 1041: Down to the Basics WEBCAST, 8:30AM-4:30PM

15WBCDE09C

275

375

Webcast

TAX

12/9

Benford’s Law-A Valuable Audit Tool WEBCAST, 7AM-9AM

15WBADE09A

109

Webcast

A&A

12/9

Taxation for Individuals Living Abroad WEBCAST, 8AM-4PM

15WBWTILA

265

340

Webcast

TAX

12/9

Construction Contractors: Special Tax and Accounting Considerations WEBCAST, 8:30AM-4:30PM

15WBCDE09A

275

375

Webcast

-30

12/9

Fraud Alert-How Fraud Can Impact You! WEBINAR, 9AM-11AM

15WNCDE09A

Webinar

A&A

12/9

Wine Industry Fundamentals: Tax, Accounting and Auditing WEBCAST, 8:30AM4:30PM

15WBCDE09B

325

425

Webcast

12/9

Accountants’ Nondisclosure Exposure: Recent Cases and Controversies WEBCAST, 10AM-12PM

15WBADE09C

109

Webcast

A&A

12/10

S Corporations: A Complete Guide to Planning and Compliance WEBCAST, 8:30AM-4:30PM

15WBCDE10B

275

375

Webcast

TAX

12/10

2014 Annual Tax Update WEBCAST, 7AM-3PM

15WBADE10C

195

225

Webcast

TAX

A133 Audits-2014 How I Can Do It Better WEBCAST, 12PM-4PM

15WBADE10B

129

159

Webcast

GNP

12/10 12/10

Corporate Income Tax Return Fundamentals WEBCAST, 8:30AM-4:30PM

15WBCDE10A

275

375

Webcast

TAX

Becoming the Hero-Capital Gain Tax Strategies WEBINAR, 10AM-12PM

15WNCDE10A

Webinar

TAX

12/10

CFO Series-Financial Statement and Cash Flow Forecasting and Modeling WEBCAST, 8AM-4PM

15WBWCFOSF

265

340

Webcast

12/10

A133 Audits-2014 What I Need To Know WEBCAST, 8AM-12PM

15WBADE10A

129

159

Webcast

GNP

12/11

Startup Conference WEBCAST, 8:30AM-4:30PM

15WBCDE11D

325

425

Webcast

12/11

Final Repairs to Tangible Property Regulations WEBINAR, 9AM-11AM

15WNCDE11A

Webinar

TAX

12/11

Cash and Credit Management WEBCAST, 8:30AM-4:30PM

15WBCDE11A

275

375

Webcast

A&A

12/11

Disclosure: The Key to Financial Statements WEBCAST, 8:30AM-4PM

15WBCDE11B

275

375

Webcast

A&A

12/11

Yellow Book Audits WEBCAST, 8AM-12PM

15WBADE11A

129

159

Webcast

GNP

12/11

Financial Accounting for Related Party Transactions WEBINAR, 12PM-2PM

15WNCDE11B

Webinar

A&A

12/11

Twitter for Accountants WEBINAR, 9AM-11AM

15WNCDE11C

Webinar

TEC

12/11

Introduction to International Taxation WEBCAST, 8:30AM-4:30PM

15WBCDE11C

275

375

Webcast

TAX

12/11

HUD Multifamily Housing Audits 2014 WEBCAST, 12PM-4PM

15WBADE11B

129

159

Webcast

GNP

12/11

Stopping Tax Identity Theft: Practical Advice for CPAs and Clients WEBCAST, 8:30AM-9:30AM

15WBADE11C

Webcast

TAX

12/12

Live Video Interview with Ponzi Expert Kathy Bazoian Phelps WEBINAR, 9AM11AM

15WNCDE12B

Webinar

A&A

12/12

Business Valuation: A Review of the Essentials WEBCAST, 8:30AM-4:30PM

15WBCDE12B

275

375

Webcast

A&A

12/12

Financial Statement Preparation for Your QuickBooks Clients WEBCAST, 8:30AM4PM

15WBCDE12C

275

375

Webcast

A&A

12/12

Live Video Interview with Gov’t Fraud Expert Dennis Dycus WEBINAR, 7AM-9AM 15WNCDE12A

Webinar

GNP

12/12

International Tax Conference WEBCAST, 8:30AM-4:30PM

15WBCDE12A

325

425

Webcast

TAX

12/12

CIRA: A&A Update WEBCAST, 10AM-2PM

15WBADE12A

155

Webcast

A&A

12/13

Advanced Googling for Accountants Part I: Optimizing Your Google Experience SATURDAY WEBINAR, 7AM-9AM

15WNSDE13A

Webinar

TEC

ç New |  Non-tech credits |

WashingtonCPA Fall 2014

Networking event

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 Discount Fee Fee

Facility

Subject

12/15

Review of Significant Accounting Topics WEBCAST, 8:30AM-4PM

15WBCDE15B

275

375

Webcast

A&A

12/15

2014 Business Fraud Update WEBCAST, 7AM-3PM

15WBADE15A

195

225

Webcast

A&A

12/15

College Financial Planning WEBCAST, 8:30AM-4PM

15WBCDE15A

275

375

Webcast

12/15

Live Video Interview with ex-CPA Embezzler Chuck Gallagher WEBINAR, 10AM12PM

15WNCDE15B

Webinar

A&A

12/15

Live Video Interview with Embezzler Amy Wilson WEBINAR, 7AM-9AM

15WNCDE15A

Webinar

A&A

12/16

Your Clients Medicare Benefits and Solutions to Long Term Care WEBCAST, 10AM-12PM

15WBADE16B

109

Webcast

PFP

12/16

The CFO: 5 Critical Skills to Maximize Profits WEBINAR, 9AM-11AM

15WNCDE16A

Webinar

12/16

Social Security Basics and Strategies For Maximizing Benefits WEBCAST, 8:30AM4PM

15WBCDE16A

275

375

Webcast

PFP

12/16

Fair Value: Explained and Updated WEBCAST, 8:30AM-4:30PM

15WBCDE16C

275

375

Webcast

A&A

12/16

Marketing Management for CFOs and Other Financial Managers WEBCAST, 8AM10AM

15WBADE16A

109

Webcast

12/16

401(k)s and Retirement Plans For Small Businesses WEBCAST, 2PM-4PM

15WBADE16C

109

Webcast

12/16

Choice of Entity Workshop (25% CA Content) WEBCAST, 8:30AM-4:30PM

15WBCDE16B

275

375

Webcast

TAX

12/16

The Digital Office-Cloud Based Client Accounting Systems WEBINAR, 12PM-2PM

15WNCDE16B

Webinar

TEC

12/17

Live Video Interview with Pulitzer Winner Michael Sallah WEBINAR, 7AM-9AM

15WNCDE17A

Webinar

A&A

12/17

2014 Not-For-Profit Accounting, Auditing and Tax Update WEBCAST, 7AM-3PM

15WBADE17A

195

225

Webcast

GNP

12/17

Tax Research Skills WEBCAST, 8:30AM-4PM

15WBCDE17B

275

375

Webcast

TAX

12/17

Deal Structure for Mergers and Acquisitions WEBCAST, 8:30AM-4:30PM

15WBCDE17A

275

375

Webcast

TAX

12/17

Internal Control’s New Muscles WEBINAR, 11AM-1PM

15WNCDE17C

Webinar

A&A

12/17

Live Video Interview with ex-Con ZZZZ Best CFO Mark Morze WEBINAR, 10AM- 15WNCDE17B 12PM

Webinar

A&A

12/17

12/18

Live Video Interview with Ex-Con Purchasing Agent Vern Beck WEBINAR, 3PM-5PM 15WNCDE17D

Webinar

A&A

Punctuation That Counts: Catch Your Mistakes Before Your Readers Do! WEBCAST, 15WBADE18B 8AM-9AM

Webcast

12/18

Detecting and Preventing Internal Fraud, Theft and Abuse WEBINAR, 10AM-12PM

15WNCDE18B

Webinar

A&A

12/18

Give Your Elevator Speech a Lift WEBCAST, 8AM-9AM

15WBADE18A

Webcast

12/18

Fraud: 5 New Cases for 2014 WEBINAR, 8AM-10AM

15WNCDE18A

Webinar

A&A

12/18

Everything CPAs Need to Know About Detecting Ponzi Schemes WEBINAR, 11AM-1PM

15WNCDE18C

Webinar

A&A

12/18

2014 Compilation and Reveiw Update WEBCAST, 7AM-3PM

15WBADE18D

195

225

Webcast

A&A

12/18

HUD Audits of Multifamily Housing Projects: Audit Requirements Under the HUD Audit Guide and A-133 WEBCAST, 8:30AM-4PM

15WBCDE18A

275

375

Webcast

GNP

12/18

Writing That Sells! How to Influence and Persuade on Paper WEBCAST, 9AM10AM

15WBADE18C

Webcast

12/19

Live Video Interview with Ex-CPA Ex-CFO Criminal Sam Antar WEBINAR, 7AM9AM

15WNCDE19A

Webinar

A&A

12/19

The Basics of Filing an Offer in Compromise WEBCAST, 8:30AM-4PM

15WBCDE19A

275

375

Webcast

TAX

12/19

Preparing for a CFO Role WEBCAST, 9AM-10AM

15WBADE19B

Webcast

12/19

2014 Governmental Accounting and Auditing Update WEBCAST, 7AM-3PM

15WBADE19A

195

225

Webcast

GNP

12/19

Governmental Pension Reporting— The New Standards WEBCAST, 9AM-2PM

15WBADE19C

149

169

Webcast

GNP

12/20

iPad/Tablet-Tablet Shootout...Which One Should You Buy? SATURDAY WEBINAR, 7AM-9AM

15WNSDE20A

Webinar

TEC

12/20

Yellow Book Update SATURDAY WEBCAST, 8AM-4PM

15WBSDE20A

195

245

Webcast

GNP

12/22

Communicating Financial Information to Non-Accountants WEBINAR, 9AM-11AM

15WNCDE22B

Webinar

A&A

12/22

Bitcoin-What You Should Know About This Digital Currency WEBINAR, 11AM1PM

15WNCDE22D

Webinar

TEC

12/22

Reformatted Financial Statements 2014: Is the Endgame in Sight? WEBCAST, 8:30AM-4PM

15WBCDE22A

275

375

Webcast

A&A

12/22

Excel-How To Become an Excel Formula Expert WEBINAR, 7AM-9AM

15WNCDE22A

Webinar

TEC

12/22

2014 Governmental Pension Reporting-Implementation Issues WEBCAST, 9AM12PM

15WBADE22C

129

Webcast

GNP

12/22

Communicating Financial Information to Non-Accountants WEBCAST, 9AM-11AM

15WBADE22B

109

Webcast

ç New |  Non-tech credits |

www.wscpa.org

Networking event

WashingtonCPA Fall 2014

EDUCATION AND EVENTS

Fees Date

CPE Credits

Course

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

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

Webcast

TAX

Webcast

TAX

12/22

2014 Annual Tax Update WEBCAST, 7AM-3PM

15WBADE22A

195

225

12/22

S Corporations: Key Issues, Compliance, and Tax Strategies WEBCAST, 8AM-4PM

15WBWSCORP

265

340

12/22

Excel-Charts and Formatting For a Non-Financial Audience WEBINAR, 10AM12PM

15WNCDE22C

Webinar

TEC

12/23

Business Use of a Home and Vacation Home Rentals Rules-What You Need to Know WEBINAR, 11AM-1PM

15WNCDE23C

Webinar

TAX

12/23

2014 A CPAs Guide to Choice of Entity WEBCAST, 7AM-3PM

15WBADE23A

195

245

Webcast

TAX

12/23

Fraud: 2014 Alert for Small and Mid-Sized Entities WEBINAR, 9AM-11AM

15WNCDE23A

Webinar

A&A

Webinar

TEC

Webcast

TAX

-30

12/23

Excel-Preparing Your Source Data for Analysis WEBINAR, 10AM-12PM

15WNCDE23B

12/23

Hottest Tax Topics for 2014 WEBCAST, 8AM-4PM

15WBWHOT

265

340

12/26

The Digital Office-The CPA Technology Toolkit WEBINAR, 10AM-12PM

15WNCDE26A

Webinar

TEC

12/27

Becoming a Virtual CFO: Keys to Success SATURDAY WEBINAR, 7AM-9AM

15WNSDE27A

Webinar

12/29

Affordable Care Act-Key Issues for Employers WEBINAR, 11AM-1PM

15WNCDE29B

Webinar

TAX

12/29

Accountants’ Nondisclosure Exposure: Recent Cases and Controversies WEBCAST, 10:30AM-12:30PM

15WBADE29B

109

Webcast

A&A

12/29

Compilation and Review Standards: the Annual Update and Review by Walter Haig WEBCAST, 8AM-4PM

15WWCRURDE

285

360

Webcast

A&A

12/29

2014 Accounting and Auditing Update WEBCAST, 7AM-3PM

15WBADE29A

195

225

Webcast

A&A

12/29

Creating Better Budgets: Plan for the Unknown WEBINAR, 3PM-5PM

15WNCDE29D

Webinar

12/29

Communicating Financial Information to Non-Accountants WEBINAR, 9AM-11AM

15WNCDE29A

Webinar

A&A

12/29

Internal Control’s New Muscles WEBINAR, 12PM-2PM

15WNCDE29C

Webinar

A&A

12/30

Closing Best Practices-Shortening Month End WEBINAR, 12PM-2PM

15WNCDE30D

Webinar

A&A

-30

12/30

2014 Key Tax Issues for Corprations WEBINAR, 11AM-1PM

15WNCDE30C

Webinar

TAX

12/30

Washington Sales Tax and New Developments by Mark Hugh WEBCAST, 12PM4PM

15WBADE30B

129

159

Webcast

TAX

12/30

Washington CPA Ethics and New Developments by Mark Hugh (A WA Requirement) WEBCAST, 8AM-12PM

15WBADE30A

164

194

Webcast

Ethics

12/30

2014 Key Tax Issues for Individuals WEBINAR, 8AM-10AM

15WNCDE30A

Webinar

TAX

12/30

Fraud and Abuse in Nonprofits WEBINAR, 9AM-11AM

15WNCDE30B

Webinar

GNP

12/31

What’s New in A & A? WEBINAR, 10AM-12PM

15WNCDE31C

Webinar

A&A

12/31

Excel-How To Become an Excel Formula Expert WEBINAR, 9AM-11AM

15WNCDE31B

Webinar

TEC

12/31

How Will You Handle the New Revenue Recognition Standard? WEBINAR, 7AM9AM

15WNCDE31A

Webinar

A&A

1/5

Everything You Need to Know About Trusts WEBCAST, 8:30AM-4:30PM

15WBCJA05B

275

375

Webcast

PFP

1/5

Statement of Cash Flows: Preparation and Analysis Workshop WEBCAST, 8:30AM4PM

15WBCJA05A

275

375

Webcast

A&A

1/6

The New Group Audit Standard: Understanding the Essentials WEBCAST, 8:30AM12PM

15WBCJA06B

138

188

Webcast

A&A

1/6

Compilation and Review Practice Guide WEBCAST, 8:30AM-4PM

15WBCJA06A

275

375

Webcast

A&A

1/7

Accounting and Auditing Update WEBCAST, 8:30AM-4:30PM

15WBCJA07F

275

375

Webcast

A&A

1/7

A133 Audits-2014 What I Need To Know WEBCAST, 8AM-12PM

15WBAJA07A

129

159

Webcast

GNP

1/7

A133 Audits-2014 How I Can Do It Better WEBCAST, 12PM-4PM

15WBAJA07B

129

159

Webcast

GNP

1/7

FIN 48: Accounting for Uncertain Tax Positions (ASC Topic 740.10)WEBCAST, 8:30AM-4PM

15WBCJA07B

275

375

Webcast

A&A

1/7

Investment Finance and Income Tax: Two Worlds Collide WEBCAST, 8:30AM-4PM

15WBCJA07C

275

375

Webcast

TAX

1/7

Strategies for Tax Dispute Resolution WEBCAST, 8:30AM-4:30PM

15WBCJA07E

275

375

Webcast

TAX

1/7

Advising Clients of Social Security Benefits WEBCAST, 8:30AM-4:30PM

15WBCJA07D

275

375

Webcast

PFP

1/8

HUD Multifamily Housing Audits 2014 WEBCAST, 12PM-4PM

15WBAJA08B

129

159

Webcast

GNP

1/8

Yellow Book Audits WEBCAST, 8AM-12PM

15WBAJA08A

129

159

Webcast

GNP

1/8

Tax Practitioner’s Guide to Accounting and Reporting Issues WEBCAST, 8:30AM4PM

15WBCJA08B

275

375

Webcast

A&A

1/8

Tax Research Skills WEBCAST, 8:30AM-4PM

15WBCJA08A

275

375

Webcast

TAX

1/9

Corporate Finance Checkup: Renovate Your Analytical Toolbox WEBCAST, 8:30AM- 15WBCJA09A 4PM

275

375

Webcast

ç New |  Non-tech credits |

WashingtonCPA Fall 2014

Networking event

www.wscpa.org

EDUCATION AND EVENTS Fees

Date

CPE Credits

Type

Course

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

WSCPA NonAICPA Member Member Member Discount Fee Fee

Facility

Subject

1/12

Not-for-Profit Accounting and Auditing Update WEBCAST, 8:30AM-4PM

15WBCJA12A

275

375

Webcast

GNP

1/14

Preparing Complex 1040s WEBCAST, 8:30AM-4:30PM

15WBCJA14A

275

375

Webcast

TAX

1/14

Transform Your Busy Season with Technology Tools You Already Use WEBCAST, 8:30AM-4PM

15WBCJA14B

275

375

Webcast

TEC

1/15

Form 1041: Down to the Basics WEBCAST, 8:30AM-4:30PM

15WBCJA15A

275

375

Webcast

TAX

1/16

Private Company Accounting: New Challenges, New Directions WEBCAST, 8:30AM-4PM

15WBCJA16A

275

375

Webcast

A&A

1/19

Everything You Need to Know About Trusts WEBCAST, 8:30AM-4:30PM

15WBCJA19A

275

375

Webcast

PFP

1/20

Effective Work Paper Techniques: Building a Better Work Paper WEBCAST, 8:30AM- 15WBCJA20B 4PM

275

375

Webcast

A&A

1/20

Advanced Tax Planning Techniques WEBCAST, 8:30AM-4:30PM

15WBCJA20A

275

375

Webcast

TAX

1/21

Audits of 401(k) Plans WEBCAST, 8:30AM-4PM

15WBCJA21A

275

375

Webcast

A&A

1/21

Controls, Risks and Financial Reporting WEBCAST, 8:30AM-4PM

15WBCJA21B

275

375

Webcast

A&A

1/21

Top 10 Things Financial Planners Need to Know About Estate Planning WEBCAST, 8:30AM-4PM

15WBCJA21C

275

375

Webcast

PFP

1/22

Audit Standards Update: Clarity Standards Overview WEBCAST, 8:30AM-4PM

15WBCJA22A

275

375

Webcast

A&A

1/23

Preparing Form 706: The Federal Estate Tax Return WEBCAST, 8:30AM-4:30PM

15WBCJA23B

275

375

Webcast

TAX

1/23

Audit Standards Update: Clarifying Risk Assessment WEBCAST, 8:30AM-4PM

15WBCJA23A

275

375

Webcast

A&A

1/26

2014 Tax Advisors Update WEBCAST, 8AM-4PM

15WBWBTAU

310

385

Webcast

TAX

1/26

Private Company Reporting Options: More Changes Ahead WEBCAST, 8:30AM4:30PM

15WBCJA26A

275

375

Webcast

A&A

1/27

Advanced Personal Financial Planning Update WEBCAST, 8:30AM-4PM

15WBCJA27A

275

375

Webcast

PFP

1/27

Estate Planning Intro: Know Your Q-tip From a QTIP WEBCAST, 8:30AM-4:30PM

15WBCJA27B

275

375

Webcast

PFP

1/27

S Corporations: A Complete Guide to Planning and Compliance WEBCAST, 8:30AM-4:30PM

15WBCJA27C

275

375

Webcast

TAX

1/28

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

15WBCJA28C

275

375

Webcast

TAX

1/28

Asset Protection Planning WEBCAST, 8:30AM-4PM

15WBCJA28B

275

375

Webcast

PFP

1/28

Advanced Auditing of HUD-Assisted Projects WEBCAST, 8:30AM-4PM

15WBCJA28A

275

375

Webcast

GNP

1/29

Introduction to International Taxation WEBCAST, 8:30AM-4:30PM

15WBCJA29A

275

375

Webcast

TAX

1/29

Compilation and Review Standards: the Annual Update and Review by Walter Haig WEBCAST, 8AM-4PM

15WWCRURJA

285

360

Webcast

A&A

1/30

Construction Contractors: Special Tax and Accounting Considerations WEBCAST, 8:30AM-4:30PM

15WBCJA30A

275

375

Webcast

1/30

AICPA’s Annual Federal Tax Update WEBCAST, 8AM-4PM

15WBWPTU

265

340

Webcast

TAX

-30

New CPE programs are added regularly to the online catalog: www.wscpa.org/CPE/catalog

Questions? Need assistance finding a CPE program? Call (800) 272-8273 (Toll-free in WA) or (425) 644-4800.

ç New |  Non-tech credits |

www.wscpa.org

Networking event

WashingtonCPA Fall 2014

REGISTRATION

Register online with credit card at www.wscpa.org/cpe/catalog or: • Mail form with check to WSCPA, 902 140th Ave NE, Bellevue, WA 98005-3480 • Call (425) 644-4800 or (800) 272-8273 (toll-free in Washington) Questions? E-mail cpe@wscpa.org or call the WSCPA.

Code

Title

Date

City

Fee1

To pay by credit card, please visit www.wscpa.org/cpe/catalog or call (425) 644-4800.

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

WashingtonCPA Fall 2014

www.wscpa.org

CLASSIFIED ADS

Detailed advertising information is available online at www.wscpa.org. Ads are $1 per word with a minimum fee of $50. Active e-mail and web site addresses are included. Classified ads are placed on the website for 60 days when received and in the next magazine when received by the deadline, December 1 for the Winter 2014/15 issue. Positions available ads are no longer available in the magazine. To post a job listing, www.wscpa. org (click Job Board.) Want to list a rental or vacation property? Use the Miscellaneous category.Contact Janet White at (425) 586-1126, (800) 272-8273, Ext. 1126, or memberservices@wscpa.org for more information. All ads must be pre-paid. Find classified ads at www.wscpa. org under More.

OFFICE SPACE Three Downtown Seattle Waterfront Office Spaces for Rent! The Harborscape Professional Building, a 5,000 square foot building on the waterfront one block north of the Seattle Aquarium, has three furnished waterfront offices available for rent. - 3 offices available ($2,000/for 3), option to rent only 1 or 2 offices (rent varies)- Access to two conference rooms -KitchenAccess to the building on evenings/weekends- Janitorial service-Access to copy machine/postage machine- Office furniture provided. Please email msisson@faolaw.com for more information! Prime Issaquah Location – CPA or Law Office Space for Lease. Great opportunity for start up, relocation, or expanding CPA/Law office. Desirable Issaquah location providing 2588 sq ft with multiple rooms, great visibility and high traffic count. Abundant parking, convenient freeway access to I-90 and serene view of tranquil Issaquah creek from your offices. Visit flyer at:http://www.brandsman.com/IssaquahCreekside. pdf. Opportunities are endless. Must see to appreciate. Available now. Call 425-786-1411 or email issaquahoffice@gmail.com

MERGERS & SALES Ready to retire or transition out? Let’s Talk. Looking to purchase a small accounting/tax practice in S. Snohomish / N. King County area. $75,000 - $175,000. Willing to work with seller on a desired transition plan. Please respond by e-mail to larry@staveassociates.com Small Seattle CPA Firm for Sale. North Seattle CPA firm,mostly tax practice with 0% financial statement preparation. Annual revenue of $275,000 to $285,000. Long term clientele, with $0 walk-in. Building available for long or short term lease. Owner retiring, but willing to work a couple years for successful transition. Please e-mail inquiries to smallseattlefirm@outlook.com. San Juan Islands CPA FirmAvailable for Rock Star CPA. Are you ready to leave the big firm grind behind you and be your own boss? Unique opportunity for the right individual to own the top tax firm in the San Juan Islands and live the island lifestyle while making six figure income. To find out if you qualify for this opportunity email me at: info@islandcpafirm.com Bainbridge Island/Kitsap County Firm Available. Great opportunity to expand an existing practice or start a new one. For more info contact CPAFIRMINFO@ comcast.net Considering SellingYour Practice? Consider all your options.We do the work. Confidential.We have buyers actively seeking practices. Call Mark Hause at (877) 3457722 or visit our website at www.accountingpracticesales. com.Accounting Practice Sales.We make dreams happen!

www.wscpa.org

PRACTICES FOR SALE Contact Mark Hause at Accounting Practice Sales by e-mail at MARKHAUSE@CONTACTAPS.COM or call (877) 345-7722 for more information on the following practices: (WA 1062) Grays Harbor County Area Enrolled Agent Practice For Sale: This enrolled agent practice is primed for growth with a good mix of income tax and write-up professional services.The firm has excellent visibility due to being located on a high traffic count street and has been in the area for a number of years. In addition, the Seller offers the ability to retain the existing location which will make the transition of clients easy.This firm is a great opportunity for any number of buyers from a business minded accountant, to a firm looking to grow a book of business or offer an up an coming young associate ownership. (WA 1081) Snohomish County CPA Practice For Sale: This CPA practice has all kinds of clients and services except attestation services.The majority of the firm’s revenue dollars come from income tax (60%) with the balance coming from write-up and consulting split almost evenly. Unlike many practices, this firm has a significant amount of business returns with excellent per return averages with no real concentration in any industry.The firm’s write-up work adds balance to the revenue stream and provides out of season work for the staff. This practice is a really solid opportunity for any professional to take over on a turnkey basis and experience the challenge and reward of ownership with a loyal base of clients.

well-balanced annual revenue mix.With a tenured staff in place to assist in transition and provide capacity for growth, this practice would be ideal for any number of CPA’s looking for practice ownership or existing firms looking to expand their client base with year round client service offerings. (WA1080) Spokane CPA Practice For Sale: This excellent CPA practice in a prime location is priced for immediate sale.The firm’s revenue dollars are varied but with an emphasis on income tax.The revenue mix is 76% income tax, 13% write-up, 10% consulting and the balance a compilation engagement. What sets this practice apart from many are the fees per return which are well above average. The ideal buyer for this practice will be an experienced professional(s) who enjoy helping clients with their annual tax and accounting, who seek realization rates well above the norm and who want immediate possession of a unique opportunity. (WA1082) Whitman County/Pullman Area (SE WA) Tax Practice: This firm with a nice balance of write-up and tax work is for sale.The revenue mix of the practice breaks out 88% income tax and 12% write-up. The office facility has some options for the buyer by being leased on a month to month basis along with being located on a high traffic count street.These factors create a great deal of flexibility on the location for the practice.This firm is the perfect opportunity for any accountant looking for a nice starter practice or a great add on to an established firm with the capacity to absorb additional work.

(WA 1083) Olympia/LaceyArea CPA Practice For Sale: This CPA practice is a tax and financial planning practice.The Seller is selling the tax practice and retaining the financial planning practice.The revenue dollars are provided principally by a good tax practice that is approx. 80% of total revenue.The tax practice has both individual and business returns with individual returns being approx. 60% of the tax work. The hidden part of this practice is an excellent staff that could accommodate a buyer looking to beef up their staff.The Buyer will need to be interested only in the tax and accounting and available for referrals from the financial planning side of the business.

(WA1075) Vancouver CPA Practice for Sale: This CPA practice is seeking a merger and/or sale. The practice is very typical in that the majority of revenues are from income tax with the balance in write-up and consulting services. Without question, the owner is the rainmaker and driving force behind this practice. Given the need for an exit strategy, the owner wants to begin the process of transitioning the practice via merger or sale.The buyer would acquire a substantial practice with a sizable client base, an owner who wants to effectively transition toward his/her successor, and a commitment to continue in the rainmaking role while rendering professional services at a lesser pace than the past.

(WA1084) Bothell, Mill Creek, Lynnwood Area CPA Practice For Sale: This quality CPA practice that has great balance is for sale. The firm is a long established practice that caters to a client base of individual and business returns.The firm also provides some compilations and payroll services for a

(WA1077) Seattle CPA Practice for Sale: This CPA practice is a firm that is a proven entity that provides a wide variety of services but has not provided any auditing or attestation in over ten years. The hallmark of this firm is the retention of clients and continuity of professionals rendering these services.

SOLD

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Further, the firm has per return averages well above average that provides a net cash flow that is easily in the top percentile of firms this size in gross revenue. Any buyer will acquire a firm where all the hard work of building a practice has been completed and is primed for continued prosperity.This practice is available for immediate possession coupled with an owner that seeks to assist in a solid transition. (WA1078) Port Orchard EA & Write-Up Practice for Sale: This EA practice is for sale.The practice is a tax and write-up practice with equal amounts of both professional services and a small amount of consulting.The firm has grown significantly in the recent year with a 35% increase in fees. The billing philosophy of the owner is a fee structure based on a by-the-job basis and not hourly.The result is an excellent realization rate on services performed that makes for a well above average profit percentage.This practice is a perfect opportunity for any accountant starting out on their own or a firm looking to add a solid base of clients. (WA1079) Auburn,Sumner,PuyallupArea EA Tax Practice for Sale: This EA firm has owner(s) that want to sell and retire.The firm has a good mix of professional services that provides good year round income and not just tax season.The firm’s revenue mix is 63% income tax, 25% write-up, 7% payroll services with the balance being consulting. The office lease offers a great deal of flexibility for a new owner with the current agreement being on a month-to-month basis. The buyer of this practice will acquire a business well known in the community, with an excellent reputation for personal service, very good realization rates, and a year round income stream. (WA1073) Island County EA Tax Practice for Sale: This well-established Enrolled Agent practice is for sale.The firm is well balanced with a tax practice that produces 71% of the firm’s revenue with write-up generating the remainder of the income.The practice is well positioned for future growth due to having a solid staff serving long term clients. The seller is retiring but will be available to assist in transition. For any firm looking for a satellite office, an existing practice wishing to branch out, or an individual who has aspirations of getting out on their own,this practice is an excellent choice.

(WA1070) Island CountyAreaTax Practice for Sale: This practice is a straight up tax practice with a broad spectrum of clients. The firm is full of long time clients who are serviced by the owner and a staff of over 100 years of experience.The revenues come from income tax 82%,write-up 16%,and misc.services of 2%.The fee averages are good with the individual returns averaging $350 and business returns $824. The practice is primed for a new owner that wants to start a practice or an expansion focused buyer. The timing could not be better for this opportunity.

(WA1063) North Olympic Peninsula-Clallam County CPA Practice for Sale: This firm is a tax practice that many seek but few find with a significant amount of business returns coupled with the personal income tax returns that follow.The firm has an excellent location with a high traffic count which fosters walk-in business.The perfect buyer for this practice is a financially successful CPA looking for a practice that has a solid year round income from a variety of fiscal year ends that provides a relaxed pace and good work life balance.

(WA1069) Poulsbo CPATax Practice for Sale: This solid CPA practice with an excellent client base is for sale.The firm is full of satisfied clients who refer approx. 95% of all new clients.The firm with this kind of reputation works extremely hard at providing excellent service to a client base with a health mix of all types of clients.As with most firms, the practice mix consists of mostly individual returns but does have business returns as well. For buyers looking for an established practice or firms seeking markets for new growth this firm in one you should inquire about.

(WA1065) South Puget Sound Area-CPA Practice for Sale: This CPA practice has a broad range of clients with no concentration in one area and a broad range of services that are rendered in the areas of income tax, auditing, and financial services. The firm has a history of stability that has fostered excellent client relationships that provide consistent referrals.This firm is further enhanced by an outstanding staff that has outstanding credentials making this firm unique in its ability to provide quality professional services at all service levels to all clients.The financial advisory segment of this practice makes it an obvious advantage for any firm looking to add to their suite of professional services. Any firm with designs on expanding services, looking for expertise, along with an outstanding client list has found an opportunity that is hard to beat with this firm.

(WA1068) Seattle Tax Practice For Sale: This accounting firm is a tax and write-up practice that was formed 38 years ago. The mix of professional services is approx. 65% income tax, 32% write-up, and 3% consulting with excellent per return fees.The firm has always stressed excellent service to its clients. The result is a practice filled with long-term clients who refer excellent new clients. The firm’s clients interact with the practice generally by phone, mail, and electronic media making this practice one with very little walk in business. Most clients are located or work in the Seattle Central Metropolitan area and appreciate easy driving access of a neighborhood office location for those times when in person meetings are desired or necessary. In recent years, the practice has been pruned to allow the owner to transition to retirement, yet total fees have continued to increase. What remains are clients who are the envy of many firms.This practice is an ideal purchase opportunity for any professional looking for financial reward and professional challenge.

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 (click on the Volunteer Opportunities link at the bottom of the homepage). Bellevue Friends of the Library - new Helping link/Mot Dau Noi Municipal League of King County Northwest Spay & Neuter Center - new Parlamerica - new

STATEMENT OF OWNERSHIP, MANAGEMENT,AND CIRCULATION (REQUIRED BY 39 U.S.C. 3685) 1. Publication Title:The Washington CPA 2. Publication No.: 0000-9754 3. Filing Date: 30 September 2014 4. Issue Frequency: Quarterly 5. No. of Issues Published Annually: 4 6. Annual Subscription Price: $12 7. Complete Mailing Address of Known Office of Publication: 902 140th Avenue NE, Bellevue,Washington 98005-3480 8. Complete Mailing Address of Headquarters or General Business Office of Publisher: Same as #7 9. Full Names and Complete Mailing Addresses of Publisher, Editor, and Managing Editor: Publisher:Washington Society of Certified Public Accountants, Editor: Jeanette Kebede, Managing Editor: n/a,Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue,WA 98005-3480 10. Owner:Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue,WA 98005-3480 11. Known Bondholders, Mortgagees, and Other Security Holders Owning or Holding 1 Percent or More of Total Amount of Bonds, Mortgages, or Other Securities: None 13. Publication Name:The Washington CPA 14. Issue Date for Circulation Data Below: Summer 2014 15. Extent and Nature of Circulation (Avg. No. Copies Each Issue During Preceding 12 Months,Actual No. Copies of Single Issue Published Nearest to Filing Date). a.Total No. Copies (Net press run): 8,350, 8,800 b. Paid Circulation (By Mail and Outside the Mail): (1) Mailed Outside-County Paid Subscriptions Stated on PS Form 3541: 4093, 4316. (2) Mailed In-County Subscriptions Stated on PS Form 3541: 3956, 4192. (3) Paid Distribution Outside the Mail Including Sales through Dealers and Carriers, Street Vendors, Counter Sales, and Other Paid Distribution Outside USPS: n/a, n/a. (4) Paid Distribution by Other Classes of Mail Through the USPS (e.g., First-Class Mail®): 17, 22 c.Total Paid Distribution [Sum of 15b (1), (2), (3) and (4)]: 8066, 8530 d. Free or Nominal Rate Distribution (By Mail and Outside the Mail): (1) Free on Nominal Rate Outside-County Copies included on PS Form 3541: 105, 140 (2) Free on Nominal Rate In-County Copies included on PS Form 3541: 110, 80. (3) Free or Nominal Rate Copies Mailed at Other Classes Mailed Through the USPS: 0, 0 (4) Free or Nominal Rate Distribution Outside the Mail: 20, 18 e.Total Free or Nominal Rate Distribution (Sum of 15c and 15e): 235, 238 f.Total Distribution (Sum of 15f and g): 8301, 8768 g. Copies not Distributed: 49, 32 h.Total (Sum of 15f and g): 8350, 8800 i. Percent Paid: 97%, 97%. 18. Signature and Title of Editor, Publisher, Business Manager, or Owner: Jeanette Kebede. Date 9/30/14

WashingtonCPA Fall 2014

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MEMBER VIEWPOINT

Remembering the Poor by Kell B. Rabern, CPA

like the quip of Mark Twain, “I was born humble but it wore off.” For me it is, “I was born humble and am grateful for that.” One thing I find great about careers in accounting is that the barrier to entry is low, regardless of background, race or other circumstances. The path to a professional career in accounting can start from humble beginnings. Many accountants come from humble roots to accomplish a lot of good, professionally and otherwise. In the summers where I grew up in Oregon, many of the children worked in the bean fields. Sometimes they even delayed the start of school until the crop was harvested. One year I received the award for picking more pounds of beans than any other worker, including the migrant workers who came and lived in their cars. That is part of the story of why I believe remembering those who are less fortunate is important. The bean fields are part of the story of how I was able to go to college. At the University of Oregon, in a sociology class, we took a field trip to visit a migrant farmworker camp near Salem. I remembered working alongside them and seeing their plight firsthand. To this day, if someone calls me “bean counter,” it reminds me of being a bean picker. I recently completed six years on the board for a charity in Seattle called Operation Nightwatch. This nonprofit’s clientele are the poor and homeless. I see their lives, compared to my own, are just a lucky break or two in life turned one way instead of the other. Operation Nightwatch itself has grown from humble beginnings, and it stays focused on its mission of serving the poor for the time they are homeless.We do not want them to stay in that status, but in the meantime they do need help. As Executive Director Rick Reynolds says, “In serving the www.wscpa.org

In the summers where I grew up in Oregon, many of the children worked in the bean fields... One year I received the award for picking more pounds of beans than any other worker, including the migrant workers who came and lived in their cars. That is part of the story of why I believe remembering those who are less fortunate is important.

needs of the poor and homeless, there is plenty of room for overlap without it being wasteful.” Other organizations serve other aspects of helping the plight of the poor. I see unending opportunities for accountants to give back to their communities. Accountants are valuable to every charitable endeavor. Accountants bring financial expertise and objective analytical skills needed to help guide a charity. Charities need help to prudently manage their financial resources and to wisely and diligently apply them to the programs. There are many opportunities for CPAs, so it is a matter of choosing based on passions. Grasp your passion, and give back!

their respect. It is part of a fulfilling life. Whether you seek to translate that into business development is a personal choice of how you measure success. For me, that is not an element of success measurement. For someone else, it may be. Charity service does not need to be completely altruistic. Your assessment of WIIFM is unique to you. Go for it! Kell Rabern, CPA, is Accounting & Assurance Services Director with Bashey, Hutchinson, & Walter in Bellevue. You can contact him at kell@hutchcpa.com.

You may ask WIIFM (“What’s in it for me?”). Here is the bottom line: I believe that serving in any capacity is rewarding in that you are able to work alongside others, get to know them, and gain WashingtonCPA Fall 2014

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