July 2014

Official Publication of the Nebraska Society of CPAs

Members of nine Society standing committees met at Mahoney State Park on May 28, 2014, for mid-year committee meetings over a working lunch. In the left picture, members of the State & Local Governmental Accounting & Auditing Committee, with Chairman Chris Lindner of Lincoln presiding, make final plans for the 33rd annual Nebraska Govern-mental Accounting & Auditing Conference on June 10-11, 2014. In the right picture, the Industry Committee discuss account-ing issues of mutual concern with Chairman of the Board Dan Wells of Omaha presiding. Nearly 60 members attended the event that concluded with a Society Board of Director’s meeting. For more information about the Board meeting go to Page 5.

COMPETENCY FRAMEWORK STRENGTHENS CGMA From the AICPA

As the accounting profession evolves, so does the set of skills required of individuals and their teams. Over the past two years, the AICPA has joined CIMA in reach-ing out to companies around the globe. We heard that executives are looking for finance professionals with strong technical and people skills, an understanding of the busi-ness, and the potential to be leaders within the organization. The new CGMA Competency Framework helps management accountants and their employers identify the compe-tencies needed to adapt to these shifting business demands.

The Research The AICPA and CIMA con-

ducted extensive global research with employers, identifying the competencies organizations require to drive better business. The re-search, which was used to develop the competency framework, was conducted in three phases: Face-to-face interviews per-

formed with 67 organizations from the United States, Malay-sia, South Africa and the United Kingdom;

Roundtable discussions held in 13 countries in the Americas, Asia, Europe and Africa;

Online survey taken by nearly

3,400 CIMA members, stu-dents, academics and tuition providers. Research participants included

both finance and non-finance staff in mid- to senior-level positions from a wide range of industries in both the private and public sectors.

Knowledge and Skills Define Designation Standard

The new employer-driven framework is designed around four knowledge areas that have a series of relevant integrated competencies, or functions. Each competency pre-scribes a series of skills that assist

Continued on Page 2

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in the CGMA’s professional devel-opment and can be performed at, and measured by, four proficiency levels. Knowledge areas within the framework include: Technical skills that enable fi-

nance professionals to collect, store, process and analyze infor-mation to be shared with stake-holders;

Business skills that allow fi-nance professionals to use their knowledge of the business and its environment to transform data into strategic insights;

People skills that influence the decisions, actions and behaviors of decision makers, others throughout the organization and stakeholders;

Leadership skills that span peer, functional and strategic levels.

The proficiency levels for each competency skill are Foundational (staff/entry level), Intermediate (supervisor/manager), Advanced (senior manager) and Expert (executive/C-suite). The importance of each skill varies by proficiency level, and the more important the skill is at a specific level, the higher it will be weighted on a 100-point scale. As a result, as individuals advance in their proficiency, and career, the weighting of individual skills will change accordingly.

For example, finance profes-sionals at the Foundational level will receive the highest weighting for Technical skills. Yet, as they progress along proficiency levels the weighting for Technical skills will decrease while weightings for Business, People and Leadership

skills will increase consistently with their career progress. At the Ad-vanced level, the importance of Business skills and People skills level off and the importance of Leadership skills increases. Framework Drives Qualification Syllabus and Assessment Exam

The framework is the founda-tion that will demonstrate the rele-vance and capabilities of a CGMA as a trusted finance and business strategist because it’s the underpin-ning of the CIMA syllabus, which will be covered in the mandatory CGMA strategic case study exam next year.

To learn more about the frame-work, please contact Nancy Marc-Thrasybule, Technical Manager, AICPA Management Accounting Team nmarcthrasybule@aicpa.org.

Got News? Send to vod@nescpa.org

COMPETENCY FRAMEWORK . . . From Page 1

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From making the right deter-mination on accepting gifts from vendors, to deciding whether it is appropriate to audit a friend’s business, CPAs face ethical con-cerns each day. One thing is cer-tain: ethical decisions often need to be reached quickly, which is why the AICPA’s Ethics Division and the Professional Ethics Execu-tive Committee undertook a pro-ject in 2008 to restructure the AICPA Code of Professional Con-duct for quick and easy naviga-tion.

The revised code is now avail-able at www.aicpa.org/newcode and will be effective starting De-cember 15, 2014, with early adop-tion encouraged. The updated code lives on a new and dynamic online platform, is broken down into different parts by line of prac-

tice, is intuitively arranged by top-ic and where necessary subtopic and section and incorporates the conceptual framework approach all while retaining the substance of the existing AICPA ethics stand-ards.

Electronic Format The revised code is accessible

on a new and dynamic electronic platform. This platform not only allows the user to conduct and save basic and advanced searches but also includes the ability to email links, create and name

bookmarks and add and save notes while reviewing the code. In addi-tion, the code features pop-ups for defined terms as well as hyper-links connecting to other relevant content within the code as well as external non-authoritative material issued by staff of the Ethics Divi-sion. The Code of Professional Conduct’s new online capabilities will facilitate a more user-friendly experience.

The reformatted code is ar-ranged into three parts. Part 1 applies to AICPA members in public practice; Part 2 to mem-bers in business; and Part 3 to all other members, including those who are retired or be-tween jobs. This new organiza-tion allows members to easily access relevant sections of the code, based on their line of prac-tice. Additionally, the code is organized by topic and where ap-

propriate, subtopic and section. As a result, members in business will not have to sort through topics ap-plicable for members in public practice such as independence and confidential client information. These changes to the code’s or-ganizational structure will allow members to apply the rules and reach correct conclusions quickly and efficiently.

Framework Approach The most significant change to

the Professional Code of Conduct is the incorporation of two con-ceptual frameworks, one for mem-bers in public practice and one for members in business. The concep-tual framework approach, also known as the “threats and safe-guards” approach, is a way of identifying, evaluating and ad-dressing threats that may exist and safeguards that may be applied to eliminate or reduce those threats to an acceptable level. The con-ceptual framework is used for are-as where the code lacks guidance. This new section broadens the reach of the code by allowing members to reach conclusions even if specific guidance is not written in the code.

The AICPA Professional Eth-ics Executive Committee (PEEC) and the Professional Ethics Divi-sion are pleased to share the re-vised Professional Code of Con-duct in its new format, www.aicpa.org/newcode. The code has an effective date of De-cember 15, 2014, with a delayed effective date for the Conceptual Frameworks. For information and resources on the Ethics Codification project, including implementation tools, visit www.aicpa.org/ethicscodification.

Nebraska CPA is published ten times annually for members of the Nebraska Society of CPAs. Publication is monthly, with the exception of two combined issues: February/March and December/January. Copy deadline is the tenth of the month prior to publication.

Nebraska Society of CPAs 635 South 14th Street, Suite 330

Lincoln, Nebraska 68508 (402) 476-8482 or (800) 642-6178

Fax (402) 476-8731 Email society@nescpa.org

www.nescpa.org

OFFICERS Daniel L. Wells, Chairman

Anthony J. Pruss, III Chairman-Elect Patrick G. Kirlin, Secretary

Michelle R. Thornburg, Treasurer Patrick J. Lavelle, Immediate Past Chairman

DIRECTORS

Vaughn L. Benson Sheila A. Brugger Thomas J. Meister

Shari A. Munro John W. Sehi

John B. Fruhwirth

Elected Member of AICPA Council

Richard D. Gifford West Nebraska Chapter President

STAFF

Dan Vodvarka, President Trudy Meyer, Vice President

REVISED ETHICS CODE NOW AVAILABLE

4

The American Institute of CPAs (AICPA) welcomed the en-actment of the Digital Accounta-bility and Transparency (DATA) Act of 2013 (S. 994) on May 9, 2014, saying the law’s data trans-parency provisions point to adop-tion of eXtensible Business Re-porting Language (XBRL) for the reporting of federal budget and spending information.

“This is an important day for the American taxpayer,” said AICPA President and CEO Barry C. Melancon, CPA, CGMA. “By signing the DATA Act into law, President Barack Obama has paved the way for implementation of a system that will allow each and every one of us to more easily track federal spending data.”

Purposes of the DATA Act are to: expand the Federal Funding

Accountability and Transpar-ency Act of 2006 by disclos-ing direct federal agency ex-penditures and linking federal contract, loan, and grant spending information to fed-eral programs to enable tax-payers and policy makers to track federal spending more effectively;

establish government-wide data standards for financial data and provide consistent, reliable, and searchable gov-ernment-wide spending data that is displayed accurately for taxpayers and policy mak-ers on USASpending.gov;

simplify reporting for entities receiving federal funds by streamlining reporting re-quirements and reducing compliance costs while im-

proving transparency;

improve the quality of data submitted to USASpend-ing.gov by holding federal agencies accountable for the completeness and accuracy of the data submitted; and

apply approaches developed by the Recovery Accountabil-ity and Transparency Board to spending across the federal government.

By mandating government-wide standards for federal spend-ing data, the DATA Act will result in a more transparent look into the expenditures of federal agencies. The law requires the U.S. Depart-ment of the Treasury and the Of-fice of Management and Budget to adopt a non-proprietary, platform-independent data standard, such as XBRL.

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SOCIETY OFFICE TECHNOLOGY UPDATED The Society’s Board of Directors

held one of its quarterly meetings on May 28, 2014, at Mahoney State Park following the annual May Mid-Year Meetings of nine of the Society’s stand-ing Committees.

Dan Wells of Omaha, Chairman of the Board, presided at the meeting as the Board reviewed recent Society ac-tivities and issues and planned for the Society’s future.

Among the actions taken at the meeting, the Board: Approved the Society’s financial

statements for the fiscal year ending March 31, 2014, and April 30, 2014, and 23 membership applications.

Received a report from Vice Pres-ident Trudy Meyer that the Socie-ty has entered into an agreement with P & L Technology of Omaha to partner in the development and management of the Society office’s computer network and the updat-ing of the computer hardware and

software. The Society office also in May upgraded its web hosting, internet and phone services.

Received a report from Chairman Wells and John Fruhwirth, the Soci-ety Elected Member of the AICPA Council, regarding the issues dis-cussed at the AICPA’s spring meet-ings in Chicago and Phoenix.

Reviewed and approved an agenda for the annual Board Retreat which is set for August 22, 2014, at Ma-honey State Park.

Discussed two, 2014 appointments to the Nebraska Board of Public Accountancy (State Board). The Society Board approved two nom-inations and directed the Society staff to contact Nebraska Gover-nor Dave Heineman and request that Society members Marcy Luth of Grand Island and Bernie Gutschewski of Omaha be re-appointed to four-year terms on the State Board.

Received a report from Society President Dan Vodvarka regarding activities of the 2014 Nebraska Leg-islature and he discussed possible 2015 legislation regarding the State Board’s Quality Enhancement Pro-gram.

Chairman Wells appointed a com-mittee of Board members to review the results of the Society’s Novem-ber 2013 membership survey and deliver a report at the August Board Retreat.

Nominating Committee Chairman Wells also appointed a

Nominating Committee to meet on July 15, 2014, at the Society’s office in Lin-coln to nominate a leadership slate for consideration by the membership at the Society’s Annual Meeting on October 27, 2014, in LaVista.

The Board is scheduled to next meet during the annual Board Retreat on August 22, 2014, at Mahoney State Park.

NEW REGULATIONS EXPAND R&D CREDITS From Paradigm Partners

On June 3, 2014, the Treasury Department and IRS published a poli-cy change that will benefit research and development businesses to the tune of millions of dollars through the promulgation of temporary regulation TD 9666. In this policy memorandum, the IRS addressed an issue that has hindered the ability of businesses to claim the R&D tax credit on amended returns since the introduction of the Alternative Simplified Credit (ASC) in 2007.

Two calculation methods are available for businesses that are able to qualify for the federal research and development tax credit, each of which require the determination of a baseline to which the current year’s research and development expenditures are compared. On timely filed returns, businesses have the option to choose among these two credit calculations and use the calculation that yields the

best result. However, many other businesses have limited options or can only benefit from a credit calculated using a particular method.

The IRS has previously only al-lowed the Regular credit to be utilized on an amended return if the taxpayer had never filed for the R&D credit before. While this regular method can be useful in some instances, its calcu-lations can be extremely burdensome, in some cases requiring the taxpayer to provide information about its re-search and development activities from three decades ago, which, even if the company happened to exist at that time, is a major hurdle.

The other method – the ASC – is a much simpler option than calculat-ing a base percentage using the Regu-lar credit calculation methods and fre-quently yields a larger credit. Howev-er, the inability of businesses to take ASC on amended returns has, to an extent, diminished the effectiveness of

the R&D credit. For example, many companies conduct research and de-velopment for many years before try-ing to claim the R&D credit, and are dismayed to learn that they cannot amend their returns for previous years using the ASC method. Other compa-nies may decide not to take a credit because they believe they will not have taxable income for several years, but then outperform expectations and are left with a large tax bill.

The impact of this new regulation is immediate. Many companies who have decided not to take the R&D tax credit in past years will now be able to amend their returns to claim those credits, which, with the benefit of hindsight, they realize will be able to reduce their taxable income. This will result in a boon for businesses nation-wide engaged in research and devel-opment.

For more information: www.ParadigmLP.com

6

Date Course Conference / Course Title Type Discussion Leader Facility & Location

July 1 CL4TCA Tax Challenges for Older Americans (4-Hour Morning Course) TX Carla Gordon, AICPA Mahoney State Park, Ashland, NE

1 CL4SSM Social Security and Medicare: Maximizing Retirement Benefits (4-Hour Afternoon Course) TX Carla Gordon, AICPA Mahoney State Park, Ashland, NE

2 ITTF International Taxation TX Michael Tilton, AICPA Mahoney State Park, Ashland, NE 8 AFASB Advanced FASB Review: Complex GAAP Issues AA M. Van Wagoner, AICPA Mahoney State Park, Ashland, NE 9 RRNS Revenue Recognition AA M. Van Wagoner, AICPA Mahoney State Park, Ashland, NE

10 VAL Business Valuation Topics: Everything You Want to Know … and More MA Chris Best, Acclaro Valu-

ation Advisors Mahoney State Park, Ashland, NE

15 BANK Audits of Banks and Other Financial Institutions AA Bruce Shepard, AICPA Mahoney State Park, Ashland, NE

16 CL4BPOA Write-Up, Payroll and Other Accounting Services: Managing the Risks (4-Hour Morning Course) AA Bruce Shepard, AICPA Mahoney State Park, Ashland, NE

16 CL4CE Compilation Engagement Fundamentals (4-Hour Afternoon Course) AA Bruce Shepard, AICPA Mahoney State Park, Ashland, NE

17 CGPT The Complete Guide to Payroll Taxes & 1099 Issues TX David F. Jarmusz, Sur-gent McCoy Mahoney State Park, Ashland, NE

18 1041 Fiduciary Income Tax Returns - Form 1041 Workshop TX David F. Jarmusz, Sur-gent McCoy Mahoney State Park, Ashland, NE

21 CARPG Compilation and Review Practice Guide AA Robin Ring, Loscalzo Mahoney State Park, Ashland, NE 22 SPF Special Purpose Frameworks AA Robin Ring, Loscalzo Mahoney State Park, Ashland, NE 29 EO-F990 Form 990: A Comprehensive Approach to Accurate Preparation TX Thomas Sheets, AICPA Mahoney State Park, Ashland, NE 30 CAAT Construction Contractors: Accounting, Auditing and Tax AA Thomas Sheets, AICPA Mahoney State Park, Ashland, NE

31 ADE Advanced Excel (Rescheduled from June 19, 2014) MA Will Fleenor, K2 Enter-prises Mahoney State Park, Ashland, NE

August 4 PAIT Getting More Active with the Passive Activity Rules and the New

Net Investment Income Tax TX Susan Smith, Surgent McCoy CPE Mahoney State Park, Ashland, NE

5 BFTU The Best Federal Tax Update Course TX Susan Smith, Surgent McCoy CPE Mahoney State Park, Ashland, NE

6 OBCR A Practical Guide to Small Business Health Insurance and Fringe Benefits: 2014 and Beyond TX Susan Smith, Surgent

McCoy CPE Mahoney State Park, Ashland, NE

7 DRMM Determining How Much Money You Need to Retire & Tax Ideas And Money Management in Retirement TX David E. Hultstrom, Sur-

gent McCoy Mahoney State Park, Ashland, NE

8 IEFP The Best Income Tax, Estate Tax and Financial Planning Ideas of 2014 TX David E. Hultstrom, Sur-

gent McCoy Mahoney State Park, Ashland, NE

12 GAAS GAAS from A to Z AA Jerry E. Spratt, Surgent McCoy CPE Mahoney State Park, Ashland, NE

13 OCFR Occupational Fraud: Top 50 Tips How to Prevent Executives, Managers & Employees from Stealing and Not Getting Caught AA Jerry E. Spratt, Surgent

McCoy CPE Mahoney State Park, Ashland, NE

14 MOTT Planning to Defeat the 3.8% Medicare Tax & Other Tax Topics TX Bradley P. Burnett, J.D., LL.M. Mahoney State Park, Ashland, NE

15 MYTU 2014 Mid-Year Tax Update (4-Hour Morning Course) TX Bradley P. Burnett, J.D., LL.M. Mahoney State Park, Ashland, NE

15 TPCP 2014 Tax Planning Update for Corporations, Partnerships & LLCs (4-Hour Afternoon Course) TX Bradley P. Burnett, J.D.,

LL.M. Mahoney State Park, Ashland, NE

25 EUG A Practical Ethics Update for CPAs - 2014 Edition (4-Hour Morn-ing Course) ET Ray Thompson, A&A

CPE Fairfield Inn & Stes, Grand Island, NE

25 HTAA Hot Topics in Accounting & Financial Reporting (4-Hour After-noon Course) AA Ray Thompson, A&A

CPE Fairfield Inn & Stes, Grand Island, NE

26 CRO What's New in Compilation, Review and the Cash & Tax Basis of Accounting AA Ray Thompson, A&A

CPE Mahoney State Park, Ashland, NE

27 ACDC Accounting & Auditing Current Developments AA Ray Thompson, A&A CPE Mahoney State Park, Ashland, NE

The Nebraska Society of CPAs’ 2014 Summer CPE Calendar www. nescpa.org

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VOLUNTARY PROGRAM FOR TAX PREPARERS UNLAWFUL & IMPROPER The American Institute of CPAs

(AICPA) on June 24, 2014, ex-pressed strong concern that the In-ternal Revenue Service’s (IRS) pro-posed voluntary certification pro-gram for tax return preparers “would cause significant legal problems that may ultimately frustrate the IRS’s goals, confuse the public, and lead to litigation.”

In a letter to IRS Commissioner John Koskinen, AICPA Chairman of the Board of Directors William E. (Bill) Balhoff, CPA, CGMA, CFF and President and CEO Barry C. Melancon, CPA, CGMA wrote, “We have repeatedly expressed to you and your colleagues that our mem-bers have very significant concerns regarding a voluntary certification program and urged the IRS to have a formal comment period to obtain and consider the public’s views prior to moving forward. … However, it is our understanding that the IRS has

no intention of slowing down or considering viable alternatives. Therefore, we feel compelled to consider our next steps, and to raise more formally our legal and policy concerns with the IRS’s current path.” Under the proposed voluntary program, tax return preparers would receive an IRS certificate for display in return for completing a continuing education program that includes a comprehension assessment.

The AICPA’s letter emphasizes the following points: First, no statute authorizes the

proposed program; Second, the program will inevi-

tably be viewed as an end-run around Loving v. IRS, (a federal court ruling rejecting an earlier IRS attempt to regulate tax re-turn preparers);

Third, the IRS has evidently concluded, in developing the proposed program, that it need

not comply with the notice and comment requirements of the Administrative Procedure Act. This is incorrect; and

Finally, the current proposal is arbitrary and capricious because it fails to address the problems presented by unethical tax return preparers, runs counter to evi-dence presented to the IRS, and will create market confusion. Describing the proposed pro-

gram as “unlawful and improp-er,” the June 24 letter stated that it is essential that any regulatory ap-proach instituted by the IRS to ad-dress this issue has a firm legal basis and reflects sound policy. “We con-tinue to believe that additional regu-lation of tax return preparers might yield significant benefits and that the IRS can achieve these objectives while remaining consistent with

Continued on Page 9

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June Conferences Draw Over 200 !

Over 210 persons attended the Society’s two June 2014 conferences held at the Cornhusker in Lincoln on June 10, 11 and 12. In the upper left picture, David A. Vaudt, Chairman of GASB, presents a GASB Update to attendees of the 33rd annual Nebraska Governmental Accounting & Auditing Conference on June 10. Vaudt (center) met with Society President Dan Vodvarka (left) and Governmental Committee Chairman Chris Lindner of Lincoln shortly before his presentation and then visited and discussed issues with attendees throughout the Tuesday morning session (upper right). In the left middle picture, long-time popular conference speaker Frank Crawford of Oklahoma City, OK gives one of his three presentations at the Governmental Conference. He also gave an ethics presentation at the 18th annual Nebraska Not-for-Profit Organizations’ Conference on June 12. In the middle picture, Michael T. Johnson of Lincoln opens the Not-For Profit Conference with a presentation on retirement plans for employees. In the middle right, Del Lienemann, Sr. of Lincoln (center) who at 94 is Nebraska’s oldest licensed CPA listens to Frank Crawford on June 10. In the bottom left, the registration table for Not-For-Profit Conference was ready well before 8 am on June 12.

Members in the News Billy J. Friesen of Lincoln has been appointed Corporate Con-troller of Commonwealth Electric Company of the Midwest in Lincoln. . . . Brad Konen of Bennington has been appointed Executive Vice President and Chief Financial Officer of American National Bank in Omaha. . . Jason Bombeck of Lincoln and Chris Van Long of Gretna have been promoted to Partner in BKD’s Nebraska offices in Lincoln. . . HBE Becker Meyer Love in Lincoln announced the practice merger of Kurt Micek of Lincoln as he and Tony Jerina of Lincoln join HBE’s professional staff.

9

Nebraska Society membership applications have been received from the following indi-viduals. Objections should be filed with the Secretary of the Nebraska Society of CPAs: Patrick G. Kirlin, Rhea Cattle Company, 5935 McCall Lane, Arlington, NE 68002.

Michael J. Arens, HBE Becker Meyer Love, LLP, Lincoln

Jennifer H. Harris, Nebras-ka Assoc. for the Education of Young Children; Lincoln

Kelli S. Hauschild, Koski Professional Group, PC; Omaha

Ashley A. Hostert, Thomas, Kunc & Black, LLP; Lincoln

Alayna M. Kost, National Research Corporation; Lincoln

Mark E. Preston, Ritter -bush & Piotrowski, LLP; Omaha

Jordan C. Raynor, Han-cock & Dana, PC; Omaha

Katrina M. Sabata, Kuhlman & Kratochvil, PC; Columbus

Raymond A. Thomas, Han-cock & Dana, PC, Omaha

Beth L. Tyler, Seim John-son, LLP; Omaha

Lincoln D. Zehr, Hampton Enterprises, Inc.; Lincoln

Membership Applications

VOLUNTARY PROGRAM . . . From Page 7

Loving and other statutory limita-tions on the IRS’s authority,” the letter stated.

“We have sought to work with the IRS to achieve workable solu-tions to regulate tax return prepar-ers and protect the public, and we stand ready to continue these ef-forts,” the AICPA wrote.

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to a Senior Accountant and perform day-to-day accounting activities as outlined below and a second account-ant will also conduct day-to-day ac-counting activities but will initially be part of the ERP implementation team and report to the ERP Team Leader. Job Summary: Per forms account-ing activities such as, preparation and entry of journal entries, maintenance of general ledger, preparation of vari-ous statements and reports. Responsi-ble for Accounts Receivable including: verifying invoices, reconciling pay-ments to bank statement, and soliciting payment on overdue accounts. Main-tain fixed asset listing and depreciation schedules. Support audit inquires. Generates standard reports for Man-agement personnel. Duties and Responsibilities: Prepare and post journal entries Maintain general ledger Prepare various financial state-

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OPPORTUNITIES AVAILABLE PAGES 10, 11 & 12

CAREER OPPORTUNITY—Growing SW Iowa CPA firm in need of a CPA with 2-5 years’ experience in tax preparation with governmental in-charge au-diting preferred. Immediate open-ing for qualified individual. Fu-ture ownership is possible. Salary based on experience. Send cover letter with reference and resume to: firm@muxfeldt-cpa.com.

Audit Staff / Senior Aurora, NE CPA firm seeking motivated CPA or candidate with 1-5 years of experience in public accounting. Competitive compensation package, based on experience level. Please email resume to scattau@daecpa.com.

The Society office will be closed on

Friday, July 4, 2014. Please have a Safe and Fun Holiday!

11

OPPORTUNITIES AVAILABLE PAGES 10, 11 & 12

Audit Manager Manhattan, KS:

Position requires a valid CPA license and at least a Bache-lor’s degree. Minimum of 5-7 years’ experience in public ac-counting with focus in auditing of municipalities, non-profit organizations and private (non-SEC) companies required. Po-sition will manage an audit de-partment of 5-7 employees on audits and attest engagements in eastern Kansas. Position will oversee the audit engage-ment and staff from the plan-ning stages to the review stag-es of each audit; communicate directly with clients and their staff and present audit reports to clients upon completion. Position must ensure compli-ance with all AICPA, GASB and FASB audit technical guides to properly prepare au-dits in accordance with the firm’s quality control standards and peer review standards. Minimal overnight travel and the ability to supervise several projects and 5-7 people at once is a must. This position will report directly to the Audit Partner. Salary commensurate with experience. Candidate must be willing to re-locate to the Manhattan, Kansas area. Assistance with relocation ex-penses to be considered. Ad-vancement opportunities avail-able. Please send resume or direct inquiries to Chad at cparker@sinkgordon.com.

Omaha Area, NE CPA Practice for Sale: Well-established firm producing annual gross of $1,530,000. The practice has a loyal client base and an excellent reputa-tion for providing the highest level of service and quality work. Nice mix of revenues, 54% tax work, 37% audit and 5% accounting ser-vices. For more information about this opportunity or others in your area, please call 1-800-397-0249. To view listings, inquire for details and register for free email updates visit us at www.AccountingPractice Sales.com

THINKING OF SELLING YOUR PRACTICE? Accounting Practice Sales is the leading mar-keter of accounting and tax prac-tices in North America. We have a large pool of buyers, both individ-uals and firms, looking for practic-es now. We also have the experi-ence to help you find the right fit for your firm and negotiate the best price and terms. To learn more about our risk-free and confi-dential services, call Trent Holmes at 1-800-397-0249 or email Trent@accountingpracticesales.com

ACCOUNTANT Perform account reconciliation & analysis & resolve ac-counting discrepancies; analyze business operations, trends, costs, revenues, financial commitments & obligations, to project future revenues & expens-es & support budget & forecasting activities; ensure timely & accurate peri-odic financial reporting, & maintain ledger structure; ensure timely & accu-rate processing of transactions & performance of bank compliance activi-ties; monitor assigned payroll activities to ensure compliance w/ financial, legal, & administrative reqs. BS/BA/frgn equiv accounting, business, rltd. Apply to Gunderson Accounting, Attn: NES, 10730 Pacific St., #246, Oma-ha, NE 68114.

Forensic Accounting InvestigationsAren’t Just for LawyersAccountants can benefit from them too.

Cody F. Carse, CPACertified Fraud Examiner

Certified in Financial Forensics

• Asset discovery / recovery• Contract disputes• Expert witness and consultant• Fraud examinations• Landlord / Tennant disputes• Purchase or sale of a business• Shareholder / Partner disputes• Suspected theft by employees or others

402-201-6427ccarse@CodyFCarseCPA.com

www.CodyFCarseCPA.com

12

OPPORTUNITIES AVAILABLE PAGES 11 & 12

Nebraska Society of CPAs 635 South 14th Street, Suite 330 Lincoln, Nebraska 68508

PRSRT STD US POSTAGE

PAID CORNERSTONE

Practice Acquisitions Sought McDermott & Miller, P.C., is in-terested in acquiring or merging in a qualifying CPA firm(s) along the I-80 corridor from Omaha to Kearney, Nebraska. Particularly we are look-ing at firms within a 50 mile radius of I-80 that would specially include such cities as Omaha, Lincoln, York, Grand Island, Hastings, and Kearney among others. If your firm is interested in discuss-ing this opportunity, please contact Norm Saale at 308-382-7850 or nsaale@mmcpas.com. Serious in-quiries only.

Cornerstone Bank (York, NE), a $1.3 billion family-owned bank with 34 locations in 25 communities in Central Nebraska, has an immediate opening for a qualified CPA. Job duties relate to internal bank audit. Excellent benefit package. Compen-sation based on experience and qualifications. Send resume and cover letter to Human Resources, Cornerstone Bank. P.O. Box 69. York, NE 68467 or email hr@cornerstoneconnect.com. Equal Opportunity Employer/Women, Mi-norities, Protected Veterans and Per-sons with Disabilities/AAP.

Frankel Zacharia Hiring Senior & Supervisor CPAs

Frankel Zacharia is seeking to hire a senior or supervisor tax accountant with 2-5+ years public accounting ex-perience, and a senior audit accountant with 1-4+ years public accounting ex-perience in the auditing and financial reporting areas. Professionals must be a CPA or CPA candidate and pos-sess strong leadership skills as well as a drive to succeed in a successful, growth-oriented firm.

SENIOR / SUPERVISOR ACCOUNTANT – TAX

Responsibilities: Preparation of individual, corpo-

rate and partnership tax returns Instructing and training assistants

on tax preparation Researching complex tax issues Has input to decision-making on

most usual tax matters. SENIOR ACCOUNTANT – AUDIT Responsibilities: Responsible for the performance

of compilation, review, and audit engagements

Instructs assistants in work to be performed, reviews the work, and directs necessary revisions

Has input to decision-making on accounting and auditing matters.

Frankel Zacharia provides an excellent compensation and benefits package based on experience. Benefits: Profit sharing plan Health, long-term disability and

life insurance Section 125 cafeteria plan Dental plan and Vision plan Mentoring program Employee recognition and incen-

tive programs Bonus opportunities Limited travel

These positions offer excellent ad-vancement opportunities with one of Omaha’s large, local CPA firms. If you are interested, please send your resume to Lori Zahm at lzahm@fzacpa.com or fax to 402.496.1024, attention: Lori Zahm. All information provided will be held in strictest confidence.

Do Your Clients Need

Low-Cost Incorporation Services?

Attorney Prepared—Prompt and Affordable Filing Fees and Costs Included NE or IA, standard organizations:

Incorporation $449.00 Nonprofit Corporation $449.00 Limited Liability Company $499.00 Professional Corporation $549.00 (Nebraska Only) Additional States Available—Call for Pricing

7602 Pacific Street, Suite 200

Omaha, NE 68114

Phone 402-391-2400 Fax:402-391-0343

www.whitmorelaw.com email:tom@whitmorelaw.com

Our client, Hexagon Lincoln, manu-facturer of the TITAN™ and TUFF-SHELL® tanks, is the leading provider of natural gas and hydrogen storage and transport solutions to the alterna-tive fuel vehicle industry. In 2005, Hexagon Lincoln became part of the Norwegian listed Hexagon Composites Group which now consists of four daughter companies to include Hexa-gon Lincoln and they have become a global leader in manufacturing compo-site pressure vessels and systems. You can learn more about the parent com-pany at http://www.hexagon.no/. Today, Hexagon Lincoln operates one of the world’s most-advanced facilities for designing, testing and manufactur-ing composite pressure vessels. They have broadened their services to in-clude products for the Automotive, Transit, Industrial and Oil & Gas ex-ploration industries. Their core busi-ness area is high pressure gas contain-ment for products such as Natural Gas and Hydrogen Vehicle Fuel Tanks, Bulk Gas Transportation Modules, Fuel Storage Systems and Accumula-tors. You can learn more on their web site at www.hexagonlincoln.com. Due to significant growth and com-plexity of the business, Hexagon Lin-coln is seeking to recruit two Account-ants to join their finance team based at their manufacturing operation in Lin-coln, NE. One accountant will report

to a Senior Accountant and perform day-to-day accounting activities as outlined below and a second account-ant will also conduct day-to-day ac-counting activities but will initially be part of the ERP implementation team and report to the ERP Team Leader. Job Summary: Per forms account-ing activities such as, preparation and entry of journal entries, maintenance of general ledger, preparation of vari-ous statements and reports. Responsi-ble for Accounts Receivable including: verifying invoices, reconciling pay-ments to bank statement, and soliciting payment on overdue accounts. Main-tain fixed asset listing and depreciation schedules. Support audit inquires. Generates standard reports for Man-agement personnel. Duties and Responsibilities: Prepare and post journal entries Maintain general ledger Prepare various financial state-

ments and reports Accounts receiva-

ble receipt entry Reconcile receipts

to bank statement Solicit payment on

overdue accounts Maintain fixed as-

set listing and asso-ciated depreciation schedules

Assist in budget preparation/update

Support audits

Perform routine tasks for Finance Prepare, file and pay sales and use

tax Knowledge, Skills and Abilities: Detailed knowledge of accrual

accounting practices Knowledge of Microsoft Office

Products, including Access. Knowledge of ERP systems Epicore / ERP Super-user pre-

ferred Basic computer knowledge Must be accurate, organized, and

detail-oriented Credentials and Experience Bachelor degree in accounting

and/or a commensurate combina-tion of skill & education is re-quired

Minimum of 3 years accounting experience in a manufacturing en-vironment

All candidate referrals will be held in the strictest confidence. Please send resume and contact:

Celebra ng 34 Years in Execu ve Search 5350 W. 94th Terrace, Suite 102, Prairie Village, KS 66207 Phone: (913) 341‐7655 lisab@cornerstone‐kc.com

Project:  14‐907 Consultants to Management in Execu�ve Search More than 1600 retained searches completed

MANUFACTURING ACCOUNTANT

LINCOLN, NE

OPPORTUNITIES AVAILABLE PAGES 10, 11 & 12

CAREER OPPORTUNITY—Growing SW Iowa CPA firm in need of a CPA with 2-5 years’ experience in tax preparation with governmental in-charge au-diting preferred. Immediate open-ing for qualified individual. Fu-ture ownership is possible. Salary based on experience. Send cover letter with reference and resume to: firm@muxfeldt-cpa.com.

Audit Staff / Senior Aurora, NE CPA firm seeking motivated CPA or candidate with 1-5 years of experience in public accounting. Competitive compensation package, based on experience level. Please email resume to scattau@daecpa.com.

The Society office will be closed on

Friday, July 4, 2014. Please have a Safe and Fun Holiday!