The WashingtonCPA Jan/Feb2012

January/February 2012 Volume 54, Number 4

www.wscpa.org

washington

CPA

Circular 230 and Board of Accountancy RulesTo Amend or Not to Amend – That is the QuestionTen Tactics to Prepare for Accounting’s Perfect Storm

Looking to the Future

2 3WashingtonCPA January/February 2012 www.wscpa.org www.wscpa.org WashingtonCPA January/February 2012


www.wscpa.org • [email protected] Tel (425) 644-4800 • Toll free in WA (800) 272-8273

Fax (425) 562-8853 902 140th Ave NE

Bellevue, WA 98005-3480

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

Peter E. Doubleday Sharon K. Philpott Joyce G. Etheridge Russell D. Price Waylon P. Jones Rosemary Sanchez Karissa A. Lackey Lisa J. Sunderman Susan E. Legel David E. Trujillo Peter R. E. Miller William L. Wells David J. Miniken Glenn G. Wisegarver Nerelys M. Ortiz

CHAPTER BOARD CHAIRS Waylon P. Jones Bellevue Area

Joseph W. Crowther Central Joseph M. Reid Central — North Seattle Jack W. Curnow Northwest Kathryn A. Dixon Olympia — Peninsula — Pierce County Mary H. Hawkins Sammamish Valley Connie L. Griffith Seattle H. Court Carter Snohomish County Michael K. Briggs South King County John Vogel South Sound Industry Trayson J. Harmon Southwest Lucas M. Zarecor Spokane

— Wenatchee Katrina L. Cantu Yakima

Jeanette Kebede Editor

The WashingtonCPA is published by the Washington Soci-ety 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 Wash-ington Society of Certified Public Accountants, its board of directors or staff.

The WashingtonCPA (USPS 009754) is published six times annually by the Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue, WA 98005-3480. $12 of members’ annual dues goes toward a subscription to The WashingtonCPA.

Periodicals postage paid at Bellevue, Washington and additional mailing offices.

Photos by istockphoto.com.

POSTMASTER:

Send address changes to The WashingtonCPA,

c/o WSCPA, 902 140th Avenue NE, Bellevue, WA

98005-3480.

Departments

CPAwa s h i n g t o n

4 Leadership Lens10 News Briefs13 Advocacy 19 Committees24 Member Discounts26 Financial Literacy

27 Photo Album29 CPE Digest37 Registration Form38 ClassifiedAds39 Profile

Looking to the Future

6 Your Road Map to the CPA Profession’s Future: CPA Horizons 2025

13 Exposure ... and Advocacy

14 Circular 230 and Board of Accountancy Rules

18 To Amend or Not to Amend – That is the Question

19 Resolve to Become Involved

20 Technology Tip: LinkedIn - Participating in Discussions

22 Ten Tactics to Prepare for Accounting’s Perfect Storm

CONTENTS


Golf tournament

“A bad day on the course is better than a good day at the office.”

Monday, June 11, 2012

Woodinville, WA

• The tournament fee of only $110/person includes golf, lunch, dinner, drinks, and prizes! That’s an amazing deal.• Golf is not work. And it’s a great way to start the work week. • Golf at a private club without having to pay golf and cart fees. (That’s included in the registration fee, too. Nice!)• Great for networking—bring clients or potential clients. Sign up as a single player for even more opportunities

to network. (Uh oh, golf counts as work after all.)• Sunshine is not guaranteed. • Sponsorships are available. To learn more or register, call (800) 272-8273 (toll-free in WA) or (425) 644-4800.

The

fine

prin

t

*

Save the date now — we’ve ordered the sunshine!*


LEADERShiP LENS

Golf tournamentLast Year ... this Year By Rich Jones, CPA, President & CEO

As we look back at the past year and forward to the year ahead, some of

the high – and low – points include:

Highlights:• The WSCPA worked with the

AiCPA and other state societies to pass legislation that prevents the issuance of patents for tax planning or compliance ideas. This problem had grown over the past 4-5 years with more than 150 tax methods patents issued and at least that many pending.

• Again working with the AiCPA and other state societies, we were able to carve out significant exclu-sions from the iRS’ new Tax Pre-parer Compliance program that would otherwise have required CPAs to comply with the iRS’ new testing and CPE requirements. We were also able to achieve exclu-sion from the applicability of the Dodd Frank Act.

Now for some of the challenges and embarrassments of 2011:

• Two bipartisan committees of Congress were commissioned to come up with proposals for reducing the US deficit and grow-ing the economy. The Simpson Bowles Commission came up with a plan, but could not achieve the super majority necessary to move the plan to the next step. The so-called Super Committee (Co-Chaired by Washington Sena-tor Patty Murray) turned out to be not so super, unable to agree on the compromises necessary to design a plan that both sides would dislike equally.

• And don’t forget about the European sovereign debt crisis that threatened to destroy the Euro as a major currency and

devastate global capital markets; the last-minute agreement to raise the US debt ceiling resulting in a downgrading of US Treasury securities by 1 of 3 rating agen-cies; and the surprisingly resilient “Occupy ______” movement that spread across the country.

So how is 2012 shaping up? Here are some thoughts:

• NASBA (National Association of State Boards of Accountancy) has a new CEO effective January 1. Ken Bishop is an excellent selec-tion and he has wasted no time in taking a critical look at the organization and its relationships with its members (current and past members of state boards of accountancy). Ken and NASBA have been key players over the past five years in achieving nearly complete CPA mobility, with only California and Hawaii left to com-plete the map.

• The AiCPA will launch its new des-ignation, Chartered Global Man-agement Accountant (CGMA) on January 31. All members of the AiCPA identified as having been in a management accounting posi-tion for at least three years will be offered the opportunity to gain this designation. if you are in business or industry, you will want to take a good look at this designation.

• The SEC promises that the deci-sion about how and if the US will adopt, converge, or “con-dorse” (their word) iFRS will be announced very soon. And even though we have heard this before, it is a very significant issue to keep our eyes on.

• The AiCPA will celebrate its 125th birthday in 2012. in my mind, it is looking pretty good for its age.

• The Washington State Board of Accountancy and the WSCPA are working on a solution for CPAs who have retired from the practice of accounting to be able to refer to themselves as “CPA Retired.”

Some challenges for 2012:• Because the legislature chose to

“kick the can down the road” during its Special Session rather than deal with the $2 billion defi-cit in the current budget, they will have to wrestle with it in the 2012 session that begins this month.

• We will elect a new Governor. The WSCPA is already having con-versations with both candidates to ensure a seamless transition with respect to the profession’s relations with that office.

• it is a Presidential election year, which means the current parti-sanship and gridlock in Congress will grow worse, not better.

• The most optimistic projections for the economy over the next several years are for slow, small, erratic, growth. And the stock market will most likely continue the gyrations that cause all of us motion sickness and worry.

• Unemployment will likely stay above 8% (it is currently 9%). Fortunately, unemployment for accountants is at about 3%.

That’s about enough news and prog-nostication for now. One bit of good news is that all of our troops are out of iraq. however, please remember the sacrifice of those who paid the ultimate price for our freedom. Thanks.

You can contact Rich Jones at [email protected].


COvER STORy

Your road map to the Cpa profession’s Future

you probably don’t have the time to keep up with every trend and challenge that might end up affecting your job.

Now, try to predict what CPAs might be expected to know, or be called upon to provide, during the next 15 years. Sounds like a daunting task, doesn’t it? Fortunately, there’s a resource to help you do just that, and help you start preparing now for the future.

Last fall the AiCPA announced the results of a year-long ini-tiative to uncover what the future might look like for CPAs and the accounting profession in the year 2025. This initiative, called CPA horizons 2025, asked, “What are the critical issues facing the accounting profession in the coming years?” More than 75,000 individual com-ments from 5,600 CPAs in all segments of the profession, as well as business lead-ers, regulators, thought leaders and futur-ists shaped the findings of the report, which highlights key trends and maps out what the profession will face in the next 15 years.

When presenting the results at the fall meeting of AiCPA’s governing Council, Paul v. Stahlin, CPA, AiCPA Chair for 2010-2011 said, “The visionary insights con-tained in this report will serve as a compass to guide current and future CPAs on a path of success in the profession.”

After attending AiCPA’s Fall Council meeting, Mary Marino, CPA, vice Chair of the WSCPA Board, said, “i am still thinking about things that i heard in the horizons 2025 segment of the program. The CPA horizons 2025 report really focused my attention on the rapidly changing nature of our profession. The finding that resonates the most with me is that advances in technology have essentially allowed CPAs to redirect the time formerly spent on routine tasks to providing more value to cli-ents by interpreting and advising on the data that the technol-ogy is generating.”

it’s probably not surprising that technology made the CPA horizons 2025 Report’s list of 10 key insights gained from the 6-month research project. (See 10 Key insights, pages 7-8, an excerpt from the CPA horizons 2025 final report.) But you might be surprised to hear that technology is no longer a CPA Core Competency.

What are Core Competencies? if you’ve been a CPA for a while, you may recall that the AiCPA conducted a simi-

lar initiative, called the CPA vision Project, in the late 1990s to create a blueprint for the profession through 2011. The proj-ect established a Core Purpose, Core Values, and Core Com-petencies for CPAs. CPA horizons 2025 confirmed that the Core Purpose and values are still relevant for today’s CPA, and expanded the Core Competencies to be relevant for the 21st century (see below).

“…technology is no longer a Core Competency (a differ-entiator) for CPAs,” wrote Donny C. Shimamoto, CPA, CiTP,

CORE PURPOSE

CPAs...Making Sense of a Changing and Complex World

CORE vALUES

The essential and enduring beliefs that we uphold over time. Core values enable us to retain our unique character and value as we embrace the changing dynamics of the global economy.

• integrity• Competence• Lifelong Learning• Objectivity• Commitment to Excellence• Relevance in the Global Marketplace

CORE COMPETENCiES

A unique combination of human skills, knowledge and technology that provides value and results to the user. Enhancing our Core Competencies is key to sustaining a competitive and differential advantage in the marketplace.

• Communications Skills• Leadership Skills• Critical-Thinking and Problem-Solving Skills• Anticipating and Serving Evolving Needs• Synthesizing intelligence to insight• integration and Collaboration

“The visionary insights contained in this report will serve as a compass to guide current and future CPAs on a path of success in the profession.”

Paul Stahlin, CPA


COvER STORy

10 KEy iNSiGhTS

TEChNOLOGy

Understand and leverage relevant technology in conjunction with core CPA competencies to deliver superior services.

• CPAs must stay current with, embrace and exploit technology for their benefit for increased efficiency and expansion of services.

• The profession must find solutions to offer inves-tors and stakeholders up-to-date, real time financial information and to increase transparency.

• CPAs must embrace mobile technologies and social media to modernize and enhance interaction and collaboration with clients and colleagues.

• Fraud may be easier to commit and more difficult to prevent and detect. CPAs must continue to be vigilant in ensuring data is captured and managed properly and protected from malfeasance.

PRE-CERTiFiCATiON AND LiFELONG LEARNiNG

Evolve the educational framework to keep pace with the changing dynamics of business, government and our profession.

• CPAs must devote more time to staying current with regulations and standards and social, eco-nomic, technological and political trends domesti-cally and abroad.

• CPAs must further develop interpersonal skills to enhance relationships with colleagues, clients, businesses and employers.

• Real-time learning in the workplace will change the way CPAs learn and will help them adopt and adapt quickly and knowledgeably to ever-changing circumstances.

• Requirements for new CPAs must remain rigorous and demanding and be practical and relevant.

• New CPAs must have a broad knowledge of business and soft skills and not simply focus on technical accounting.

WORLDWiDE PROFESSiON

Position the CPA as a premier designation of the accounting and finance profession throughout the world.

• CPAs must be increasingly aware of international business issues and trends.

• CPAs must assess the trend toward outsourcing overseas and create opportunities to expand services to serve these markets.

• CPAs must continue to market the quality and value of their services in order to expand and thrive globally.

PRiDE iN ThE PROFESSiON

Encourage pride among CPAs in the CPA profession and in the value CPAs create throughout society.

• The profession must continue to advocate on behalf of itself to ensure continued recognition as a trusted advisor.

• CPAs must uphold the integrity of the profession and maintain high standards in an ever-changing environment and in cultures where business practices differ from U.S. practices.


COvER STORy

TRUSTED ATTESTER

Preserve the role of the CPA as the trusted attester of financial and other information.

• The profession must stay vigilant in defending its unique role as providers of audit and attest services. All CPAs benefit from the public trust that is rooted in the provision of audit and assurances services.

• Audit and attest functions must evolve to meet changing regulatory demands and client and business needs.

TRUSTED ADviSOR

Promote the CPA as the trusted advisor who, in addition to providing core CPA services, develops solutions to complex problems by integrating knowledge, expertise and resources from multiple disciplines.

• CPAs must continue to evolve as strategic partners of clients, business and employers, applying multidisci-plinary and integrated problem solving to expand traditional services and enhance nontraditional offerings and the perception of trusted advisor.

MARKET PERMiSSiONS

Leverage the strengths of the profession to expand market permissions.

• Emerging opportunities for specialization will allow CPAs to strengthen their expertise and provide additional value to clients, employers and business.

• The profession must continue to evaluate which services it offers locally and globally and how it will deliver these services to adapt to the needs of clients, employers and business.

Copyright 2011 The American Institute of Certified Public Accountants. All rights reserved. Used with permission.

10 KEy iNSiGhTS (CONTiNUED)

MARKETPLACE

Address continual changes in the marketplace, economy, businesses, and regulations.

• The exact nature of the work that CPAs perform must evolve to respond to shifts in business, society and technology. These changes will offer opportunities to enhance the value of CPA services, positioning CPAs to be leaders in helping clients and employers adapt to change while also responding to change themselves.

• Lifelong learning will take on greater importance as a way for CPAs to stay up-to-date as the pace of change accelerates.

vALUE PROPOSiTiON

increase the visibility of the profession’s value proposition by demonstrating the profession’s core values in multiple areas of business and society.

• By listening to and understanding the needs and challenges of employers and clients, opportunities for CPAs to develop services that align with Core values will emerge.

• The profession must spend more time demonstrating their value to clients, businesses and the public about the role and value of the CPA in order to thrive amid increased competition and economic pressures.

DEMOGRAPhiC ShiFTS

Continue to offer opportunities that enhance the appeal of the profession and be proactive in addressing both U.S. and global demographic shifts.

• The profession must strive to reflect the demographic shifts of incoming accounting students, clients, business and society.

• Programs offered to support minorities, women and young CPAs in the workplace must be more widely implemented throughout the profession.

• Experienced and older CPAs must continue to mentor young CPAs and identify leadership and advancement opportunities that will foster stronger relationships and loyalty.

• in order to attract and retain younger generations, employers must increase flexible work arrangements and work-at-home options.

• The profession must continue to support and enhance programs that build awareness of the CPA profession to young audiences.


COvER STORy

in an AiCPA insights Blog post, “Technology is Now Part of the CPA Base.” “Rather it is a part of our base—it is a tool that we must leverage as part of the way that we work on a day-to-day basis—and no longer something separate that was only the domain of a specialist.”

According to the CPA horizons 2025 Report, “The research shows that the entire profession ... has a bright future and will need to respond quickly and competitively to the shifting ground on political, economic, social, technological and regula-tory fronts.”

Washington CPAs Serve on CPA Horizons 2025 Advisory Panel

WSCPA members Robert L. Bunting, CPA, and Richard E. Jones, CPA, served on the CPA horizons 2025 Advisory Panel, which was charged with assessing and analyzing the 75,000 comments collected during an interactive survey, online discus-sions, focus groups, and in-person forums.

“i found the entire process to be fascinating, but i was espe-cially impressed by the extensive feedback from the members that came through the online survey and the focus groups,” said Bob Bunting, Partner and Chair, international Services Group, Moss Adams LLP, Seattle. “i was struck by the consistency of member comments to the effect that our profession needs to

do everything that is necessary to maintain the trust of our employers, clients and the public at large. This extends to our behaviors, our technical expertise, our commitment to lifelong learning and many other factors that make us a trusted advisor.”

“Working on the horizons 2025 project as an Advisory Panel member was one of the most interesting endeavors of my professional career,” said Rich Jones, WSCPA President & CEO. “it was fascinating to see how our profession sees itself and also how others see us. A key ‘a-ha’ moment for me was when i realized how our Core values create a significant marketplace advantage for CPAs. Think about it: we are known for our integ-rity, Competence, Objectivity, and Commitment to Excellence and Lifelong Learning. in fact, all of these are required by our state as a continuing condition of our licensing. That’s why we are the most trusted professionals in the business marketplace. We are legally required to conduct ourselves in accordance with these honorable values. That certainly creates a uniqueness and promotable difference in the marketplace.”

you can download the CPA horizons 2025 Report at www.cpahorizons2025.org.

Watch for future articles in The WashingtonCPA inspired by CPA Horizons 2025.


NEWS BRiEFS

WSCPA Annual AwardsJohn L. O’Brien Lifetime Achievement Award

vincent A. Gervais Public Service AwardBusiness of the year Award

volunteer of the year AwardRising Star Award

New Professional Award

Nominate an Outstanding Member

Submit your nomination by MARCH 15 at www.wscpa.org. (Enter “awards” in the search box.)

David M. Walker served as Comp-troller General of the United

States and head of the Government Accountability Office (GAO) from 1998 to 2008. Appointed by President Bill Clinton, his tenure as the federal gov-ernment’s chief auditor spanned both Democratic and Republican admin-istrations. While at the GAO, Walker embarked on a Fiscal Wake-up Tour, partnering with the Brookings institu-tion, the Concord Coalition, and the Heritage Foundation to alert Ameri-cans to wasteful government spending. Walker left the GAO to head the Peter-son Foundation.

Prior to his appointment to the GAO, Walker served as a partner and global managing director of Arthur Andersen LLP and in several government leadership positions, including as a Public Trustee for Social Security and Medicare from 1990 to 1995 and as Assistant Secretary of Labor for Pension and Welfare Benefit Programs during the Reagan administration.

Walker serves on various boards and advisory groups, including as Chairman of the United Nations independent Audit Advisory Committee, as a member of the Boards for the Committee for a Respon-sible Federal Budget, and the Partnership for Public Service, as well as a member of Advisory Committees for The Public Company Accounting Oversight Board, the Peterson Foundation, and Toffler Associates. He is also a member of the Trilateral Commission.

He has authored three books, with the latest one entitled Comeback America: Turning the Country Around and Restor-ing Fiscal Responsibility (2010), which is national bestseller. he is a frequent writer and commentator, and is a subject of the critically acclaimed documentary i.O.U.S.A.

For his work at the GAO and at the Peterson Foundation, Walker was awarded the American institute of Cer-tified Public Accountants’ highest award, the Gold Medal Award of Distinction on October 19, 2008.

Former Comptroller General of the United states to Headline WsCpa annual meetingSave the Date: June 7

ANNUAL MEETiNG

featuring David M. Walker

June 7 - 7:30-9:30 a.m.Seattle, WA | Code: AM

Webast Code: WAMMembers Only $301 tech CPE credit


NEWS BRiEFS

Do your individual Cpa credentials expire in 2012?still need Cpe hours?

if your individual credentials expire in 2012, you must have completed

your required continuing professional education (CPE) by December 31,

2011. if you did not fulfill this requirement, your credential will lapse and you

will need to follow reinstatement procedures and pay reinstatement fees.

Ifyoufindyourselfinthissituation:1. Prior to April 30, 2012 advise the State Board of Accountancy staff

of the deficiency in CPE hours in writing or through the online

renewal system at www.cpaboard.wa.gov, AND

2. Complete the required CPE credit hours, AND

3. On or before June 30, 2012 submit to Board staff documentation to

support the hours completed in conjunction with complete renewal

application information and the reinstatement fee of $480.

We “tweet”

your firm!

Sign up today!

CPA Referral Service Easy Marketing for Your Firm

www.wscpa.org

With tax season around the corner, now is a great time to

enroll your firm in the WSCPA Find a CPA Referral Service and expand your client base. The public turns to the WSCPA Find a CPA Referral Service more during tax time than any other time of the year.

For just $175 your firm is enrolled in this service through June 30, 2012. 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 expertise offered by your firm.

How does the service work? This service is marketed in directories statewide, online directories, and via Twitter and Facebook. Each firm in the referral service is promoted via social media to our followers. Hundreds of individuals and businesses state-wide looking for CPAs visit this service at www.wscpa.org or call the Society to receive a list of participating CPAs based on services offered.

A recent user of the CPA Referral Ser-vice said: “very helpful. it was a quick and easy-to-use resource, which produced half-a-dozen suggested CPAs [in my area that met my desired service needs].”

What are the benefits? Consumers seeking a CPA will learn about your firm’s services and contact information. Provides inexpensive, effective marketing for your firm.

Questions? Call (425) 586-1142, or toll-free in Washington at (800) 272-8273, Ext. 1142, or send an e-mail to [email protected].

you are encouraged to renew your individual and/or firm license with the State Board online using CPAOnline. however, you may request a renewal form to submit with the proper fee by mail.

STEP By STEP iNSTRUCTiONSDownload instructions for using the new system here: www.cpaboard.wa.gov/files/Detailed_instructions_w-pics.pdf.

QUESTiONS?if you have difficulties registering with Secure Access Washington (SAW), contact Washington State Board of Accountancy Customer Service at (360) 753-2586 or e-mail [email protected].

ONLINE LICENSE RENEWAL

To learn more, visit www.cpaboard.wa.gov.

Important Notice from the Washington State Board of Accountancy

(click “Find a CPA”)


NEWS BRiEFS

Attention Accounting Students: Scholarship Deadline - Feb. 15

The application deadline for schol-arships from the Washington CPA Foundation is February 15. All appli-cation materials must be post-marked by this date. Find scholarship qualifications and requirements at: www.discovercpa.org/discovercpa/schol-arships/index.cfm.

2012 New Professional Networking Events - Sponsorships Available

New Professional Networking Events offer opportunities for newly-licensed CPAs to strengthen their networking skills in relaxed, comfortable settings. your business can support these events by becoming a sponsor. To learn more, contact Amy O’Donnell at [email protected] or (425) 586-1140.

Membership TerminationThe affiliate membership of Corey

Vernon Darling of Anacortes has been terminated following the revocation for six years of his individual and firm licenses by the Washington State Board of Accountancy.

IRS or Washington State Tax Problems?Experience Can Make A Difference.

IRS, Revenue and Labor & Industries Audits: Administrative and Judicial Appeals & Refund Actions; Lien & Collection Problems; Tax Planning; Commercial Litigation.

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

Representing Businesses and Professionals Nationwide, Confidentiality Guaranteed.

OFFICES OF Martin Silver, P.S.Attorneys & Counselors

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

iT Directors Committee Meeting January 4, 10 am - 12 pm

WSCPA Learning Center, Bellevue

What changes are in store for CCH ProSystem fx® products? Get the Answers from a CCH Representative

A representative from CCh will be on hand to discuss the Product Road-maps & related topics for Tax, Document, Engagement & the SaaS Suite. This presentation will address the hot topics from the recent iT Directors Com-mittee survey and includes time for discussion. (A product demonstration is not included.)

Some topics include: • Are there new technical requirements?• What is Foundation, On-Premise and SaaS?• is SaaS ready now?• What about security?• What’s changing with Engagement?• is Tax moving to SQL? • Document 3.9 vs 4.1 vs SaaS: what are the pros and cons?• Does CCh have WorkFlow?• What’s happening with Portals?• And many more.

CCh Product Managers will do their best to provide answers.

Starting at 12 pm, the group will discuss other technology issues and concerns facing accounting firms. Take advantage of this unique opportunity! Registration is not required and the presentation does not qualify for CPE credit.


ADvOCACy

exposure ... and advocacyBy Judy Love, WSCPA Director of Advocacy

“Exposure – when the tide goes out, you know who’s skinny dipping.”

A speaker at a recent NASBA (National Association of State

Boards of Accountancy) meeting cred-ited Warren Buffett with this quote. it certainly caught the audience’s atten-tion, as i hoped it might yours. Keith T. Darcy, Executive Director, Ethics and Compliance Officers Association, speak-ing on “The interrelationship Between Ethics and Compliance,” used the quote to underscore his recitation of the long, sad litany of financial scandals and burst bubbles, both here and abroad, over the past decade. We are all too familiar with the results of the exposure these com-panies and individuals opened themselves and their investors to.

The Merriam-Webster Dictionary app on my iPhone defines “exposed” as: “open to view; subject to some effect or risk.” Twenty-first century phenom-enon such as WikiLeaks, social media, and hacking/cybercrime, along with federal whistleblowing legislation and require-ments for increased transparency leave companies and practitioners exposed as never before. insurers provide resources to help practitioners limit their exposure to practice liability claims; an army of instructors provides updates on changes to standards and regulations to insure compliance and limit exposure.

“Exposure” also makes frequent appearances in the form of draft pro-posals for new regulations, standards and practices from many sources: FASB, GASB, iRS, PCAOB, AiCPA, the Washing-ton State Board of Accountancy, to men-tion only a few. As of October 17, 2011, the AiCPA lists well over 40 outstanding exposure drafts.* (Note: these include

many whose comment deadlines are well in the past but no final document has been issued or action taken to date.)

Many of the proposals relate directly to your practice, could “subject [you or your clients] to some effect or risk.” They expose such concepts as new and revised interpretations of ethics rul-ings, mandatory audit firm rotation, and changes to asset and liability recognition. have you ever responded to an exposure draft, or checked to see who does? you might be surprised to learn the range of individuals, organizations and businesses that voice their support for a proposed change or express serious concerns (more often the case). you might be prompted to add your perspective to the discussion.

Among those who regularly respond are a number of dedicated WSCPA members who take the time to engage in advocacy beyond their own individual practices. Members of two WSCPA com-mittees — Accounting Auditing & Review Standards (AARS) and Government

Accounting & Auditing (GAA) — read, discuss and often respond to exposure drafts. Although the responses are clearly written on behalf of the committee, not the WSCPA, they reflect the collective wisdom, perspective and experience of the group. you can find the responses on the AARS and GAA pages under the Committee section of the WSCPA web-site. you will also find a list of committee members, agendas for upcoming meet-ings and a way to sign up to participate in this particular form of advocacy.

Where are you exposed? As your advocate, the WSCPA strives to provide you with the resources you need to keep covered. For example, are you aware of and in compliance with recent changes to Circular 230? See page 14 for an article on some of these changes. Attend a com-mittee related to your area of practice, read the weekly Short Form e-newsletter, give feedback if you see additional ways your membership organization can sup-port you in its advocacy efforts.

You can contact Judy Love at [email protected].

Where are you exposed? As your advocate, the WSCPA strives to provide you with the resources you need to keep covered.

* you can find the AiCPA exposure draft document on www.wscpa.org under the WSCPA Community bar on the right side of the page/Technical Resources/ Exposure Drafts.


TAxATiON

The recent changes to Circular 230 have given many practitioners a

chance to revisit the primary publication governing practice before the internal Revenue Service. Although the imple-mentation of the Registered Tax Return Preparers and the PTiN programs has garnered most of the attention of prac-titioners, there are other changes that could have a significant impact on the way CPAs conduct their practice.

Many of the duties and restrictions contained in Circular 230 are similar to provisions of the Washington Public Accountancy Act and Board Rules. A chart is included that provides a com-parison of selected provisions of Circular 230 and the comparable sections of the Washington Administrative Code. WAC Section 4-30-048 requires licensees to comply with the rules of other authorita-tive bodies and specifically mentions Cir-cular 230. Given mobility, licensees could find themselves subject to the rules of well over 175 separate organizations and agencies.

Practitioners should pay particular attention to Subpart B of the Circular, Duties and Restrictions Relating to Prac-tice Before the internal Revenue Service. Certain provisions of Subpart B are dis-cussed below.

Return Preparation and Practicing Before the IRS

i believe the most overlooked change to Circular 230 has to do with the addi-tion of a new section dealing with return preparation and the application of the duties and restrictions regarding prac-tice before the internal Revenue Service. Prior to the addition of Circular 230 Sec-tion 10.8, it was unclear if the preparation of tax returns constituted practice before the iRS. Many commentators took the position that preparation of tax returns

Circular 230 and Board of accountancy rulesBy Don Aubrey, CPA

Many of the duties and restrictions contained in Circular 230 are similar to provisions of the Washington Public Accountancy Act and Board Rules.

did not constitute practice before the internal Revenue Service and, therefore, tax return preparers were not subject to all of the rules of Circular 230. New Sec-tion 10.8 clearly indicates any individual who is compensated for the preparation or assists with the preparation of all or substantially all of a tax return or claim for refund is subject to the duties and restrictions related to practice before the internal Revenue Service.

With the clarification that tax return preparers are subject to all of the duties and restrictions regarding practice before the internal Revenue Service, it is the rules contained in Circular 230 Section 10.29 regarding potential conflicts of interest that may result in violations for unaware practitioners and licensees. Circular 230 indicates a conflict of interest exists in

two situations; first, if the representation of one client will be directly adverse to another client; second, there is a signifi-cant risk that the representation of one or more clients will be materially limited by the practitioner’s responsibilities to another client, a former client or a third person, or by a personal interest of the practitioner. Although the term “repre-sentation” is not defined in Circular 230, its use in other sections of Circular 230 clearly includes the preparation of tax returns. A conflict of interest could exist when a practitioner prepares tax returns for a flow-through entity and also pre-pares the tax return for one or more of the beneficiaries, partners or sharehold-ers. The treatment of any material item on the tax return which may adversely impact any one of the beneficiaries, part-ners or shareholders could result in a


TAxATiON

Comparison of Circular 230 and Board of Accountancy RulesTopic Circular 230 (revised 8/2011) Board Rules

Paragraph WAC Ref.Practice before the iRS 10.2(a)(4) includes preparation or filing

of tax returns4-30-048(16) incorporates rules of authorita-

tive bodies, including Circular 230, into the rules of conduct for Washington licensees

Definition of practitioner

10.2(a)(5) includes CPA not under suspension and Registered Tax Return Preparer (RTRP)

4-30-010(20) holding out- offering to provide professional services

4-30-010(37) Public practice-performing professional services

4-30-010(42) Representing oneself-having a license

Who may practice 10.3 (b) Any CPA who is not under suspension or disbarment from practice before the iRS

Various Must obtain a license and meet ongoing qualification standards to renew

Return preparers subject to Circular 230

10.8 Clearly indicates return prepar-ers are subject to all duties and restrictions contained in Circular 230

4-30-048 Applies rules of Circular 230 to Washington licensees

conflict of interest under Circular 230. For example, if a practitioner prepared a return with an election to expense a material amount of asset additions under Section 179 or claim bonus depreciation which benefited one of his or her clients and another beneficiary, partner or share-holder were adversely impacted due to basis limitations or because they were in a low marginal tax year, the affected party could claim the practitioner had a con-flict of interest in the preparation of the tax return.

Notwithstanding the existence of a conflict of interest, Circular 230 provides the practitioner with relief if the practi-tioner; (i) reasonably believes he or she will be able to provide competent and diligent representation to each affected client; (2) the representation is not

prohibited by law; and (3) the affected client waives the conflict of interest and gives informed consent in writing.

Unfortunately, there are times when a conflict is not necessarily evident until after the fact. if there is any potential a conflict may exist, it may be beneficial for practitioners to acknowledge a poten-tial conflict and, as long as they meet the other two requirements previously noted, obtain a waiver letter at the time the tax return is prepared in order to avoid any subsequent problems.

Returning and Withholding Client Records

Practitioners are required under Cir-cular 230 to return client records that are necessary for the client to comply with his or her Federal tax obligations.

The term “records” includes any sched-ule prepared by the practitioner with respect to a prior return that is needed to help the client comply with the prepa-ration of their current return. That stated purpose is similar to the requirements of WAC 4-30-051 which require the return of supporting records in a format useable by the client so the client can prepare their tax returns on a basis consistent with prior years.

Both Circular 230 and the newly pro-posed AiCPA rule 501-1 defer to state law regarding the withholding of certain client records for the nonpayment of fees. WAC 4-30-051 (4) prohibits withholding client records pending the payment of outstanding fees. it should be noted the rule only applies to supporting records or schedules related to a completed

Chart continued on page 16

WAC Section 4-30-048 requires licensees to comply with the rules of other authoritative bodies and specifically mentions Circular 230. Given mobility, licensees could find themselves subject to the rules of well over 175 separate organizations and agencies.

Circular 230 Disclaimer: These materials are informational in nature and users of these materials may not rely upon them to avoid imposition of tax penalties.


TAxATiON

Comparison of Circular 230 and Board of Accountancy Rules (continued)Topic Circular 230 (revised 8/2011) Board Rules

Paragraph WAC Ref.Diligence as to accuracy

10.22 Must exercise due care 4-30-046 Must not undertake a service unless it can be performed with competence

Assistance from suspended persons

10.24 Cannot accept or provide assistance from/to any person unable to practice before the iRS

4-30-052 Cannot permit others to carry out acts which violate rules of conduct

4-30-048 Applies rules of Circular 230Contingent fees 10.27 Cannot charge an unconscio-

nable fee. With exception, cannot charge contingent fees

4-30-044(2) Contingent fees generally prohibited

Return of client records

10.28 Must return records (written or electronic) necessary for client to comply with his or her Federal tax obligations. includes schedules prepared by the practi-tioner. May withhold for nonpay-ment of fees if state law allows.

4-30-051 Client records and supporting records in a format usable by the client must be returned with 45 days of request. Cannot withhold records for unpaid fees.

Conflicting interests 10.29 Cannot represent client if conflict -1- exists (a divorce), or;2 - There is a significant risk of a material item for potential conflict between clients. May be mitigated by obtaining a signed waiver from the clients.

4-30-040 Must remain free of conflicts of interest unless permitted by professional standards

Advising clients on penalties

10.34(c) Must inform client of any penal-ties likely to apply to a position on a return if practitioner pre-pares or signs the return

4-30-048 Applies rules of Circular 230 to Washington licensees

Authority to suspend 10.50(a) includes disreputable conduct and failure to comply with Circular 230

4-30-142 Authority to suspend, fine, impose sanctions, etc. for violation of prohibited acts

Disreputable conduct 10.51(a)(4) Giving misleading information 4-30-142(5)(c) Making misleading, deceptive, or untrue representations

10.51(a)(6) Failing to file a Federal tax return 4-30-142(5)(e) Purposefully failing to file a required return

10.51(a)(10) Suspension from practice as a CPA

4-30-142(6)(d) Suspension of right to practice before any state or federal agency

10.51(a)(15) Unauthorized disclosure of tax information

4-30-050(3) Can disclose only with consent

10.51(a)(16) Failing to e-file 4-30-048 Applies rules of Circular 23010.51(a)(17) Preparing returns without

a PTiN4-30-048 Applies rules of Circular 230

Circular 230 Disclaimer: These materials are informational in nature and users of these materials may not rely upon them to avoid imposition of tax penalties.

While the sanction under Circular 230 for giving false or misleading information is limited to dealing with the Treasury, the sanction under WAC 4-30-142 for making such statements applies to any situation, whether the licensee is engaged in the practice of public accounting or not.


TAxATiON

and issued work product. if there is any concern regarding the collection of fees for tax return preparation, it may be advisable for practitioners to require payment for the return at the time the return is completed and ready for delivery to the client.

Sanctions for Disreputable ConductCircular 230 allows for the sanction of practitioners for

disreputable conduct. Such conduct includes giving false or misleading information to the Department of the Treasury or any officer or employees of the Treasury. WAC 4-30-142 (5) allows for the sanction of licensees for acts of dishonesty, fraud, or negligence which includes, but is not limited to, making misleading, deceptive or untrue representations while rep-resenting oneself as a licensee. The term “representing one-self,” as defined in WAC 4-30-010 (42), means simply having a license. While the sanction under Circular 230 for giving false or misleading information is limited to dealing with the Treasury, the sanction under WAC 4-30-142 for making such statements applies to any situation, whether the licensee is engaged in the practice of public accounting or not.

Disreputable conduct under Circular 230 also includes the suspension from practice as a CPA by the licensee’s State Board of Accountancy. Similarly, WAC 4-30-142 provides that suspen-sion of the right to practice before any state or federal agency constitutes an act of dishonesty, fraud or negligence.

Knowingly directly or indirectly accepting assistance from or providing assistance to someone who is suspended from prac-tice before the internal Revenue Service to prepare tax returns constitutes disreputable conduct under Circular 230. Although there are no corresponding provisions in the Washington Public Accountancy Act or rules for hiring tax return preparers, WAC 4-30-048 does incorporate the provisions of Circular 230. Practitioners may find it beneficial to obtain a written affirma-tion from tax return preparers that the preparers do not have any restrictions regarding practice before the iRS.

The opinions expressed in this article are those of the author and not necessarily those of the Washington State Board of Accountancy.

Don Aubrey, CPA, is Chair of the State Board of Accountancy; he has served on the Board since 2007. He is Tax Director with Rebar & Associates in Seattle. He retired from BDO Seidman, LLP in 2005, after 17 years of service.

Taxation Resources Available at www.wscpa.org

The Taxation Committee has heard from a number of interesting speakers at their monthly meetings over the past several months. Participants have found the information and the discussions timely and useful. The material from each meeting is posted on the WSCPA website www.wscpa.org under the Committee sec-tion, which is open to all WSCPA members whether you are a member of the committee.

The Taxation Committee meets June through December each year. Meetings are open to all WSCPA members and are available via teleconference in addi-tion to attending in person in Bellevue or Seattle.

here’s what you will find in the Taxation Committee section:

• Sample Conflict of interest Letter• iRS Treatment of Registered Domestic

Partnerships• Q&A for Registered Domestic Partners in

Community Property States and Same-Sex Spouses in California

• iRS FAQs on Use of Electronic Accounting Software Records

• Foreign Account Tax Compliance Act (FATCA)

• Federal and State Estate Tax Update• DOR Tax Simplification Report• Circular 230 Comparisons with WA Public

Accountancy Act - Please note, you will find a further explanation of the Circular 230 Comparison with the Washington State Public Accountancy Act on page 14 in this issue of The WashingtonCPA magazine.

• iRS Directory Small Business Self-employed Stakeholder Liaison Division

• AiCPA Quarterly Tax Update• Proposed New and Revised Changes to

AiCPA Ethics Rulings

you will also find links to:• AiCPA• Free Tax Podcasts• iRS• iRS Requests for QuickBooks™• Tax and Accounting Sites Directory• Washington State Board of Accountancy• Washington State Department of Revenue

TAxATiON COMMiTTEE

WEBCAST: Washington CPA Ethics and New Developments (A WA Requirement) (WEB282) January 12 - 8-11:30 am

CPE in Ethics: A Requirement in Washington State (CENRW415)February 6 - 8-11:30 am WSCPA Learning Center, Bellevue

Learn more and register at www.wscpa.org/cpe/catalogRelated CPE


PROFESSiONAL CONDUCT

to amend or not to amend – that is the QuestionBy Ryan Bartlett, CPA, WSCPA Professional Conduct Committee

in reviewing your continuing clients’ prior year tax return, you notice

that $50,000 in investment income was mistakenly omitted from the return. you call your clients and inform them of this oversight, and they tell you they do not want to amend their prior year return to incorporate the additional income. On top of that, they accuse you of being incompetent, and demand to know how a licensed CPA could commit such an egre-gious error. What is your duty as a CPA and how should you respond? Further-more, how do you respond to the iRS or the successor accountant should you decide to disengage?

First of all, you are dealing with con-fidential client information in the exam-ple provided in the previous paragraph. Due care should be taken and all of your options should be considered prior to

taking any action. Rule 301 of the AiCPA Code of Professional Conduct addresses the subject of confidential client infor-mation and states in ET Section 301.01 that the rules shall not be construed “to affect in any way the member’s obliga-tion to comply with a validly issued and enforceable subpoena or summons, or to prohibit a member’s compliance with applicable laws and government regula-tions.” Whether or not you decide to proactively report your clients’ failure to amend their return to the iRS or not is up to you, although it may be in your best interest to do so.

it is also noted in the AiCPA Profes-sional Code of Conduct that Rule 301 (ET Section 301.01) “is not intended to help an unscrupulous client cover up illegal acts or otherwise hide informa-tion by changing CPAs. if the member is

contacted by the successor he or she should, at a minimum, suggest that the successor ask the client to permit the member to discuss all matters freely with the successor. The successor is then on notice of some conflict. Because of the serious legal implications, the member should seek legal advice as to his or her status and obligations in the matter.”

in the example provided above, the CPA has done what is required by simply recommending to the client that the prior year tax return should be amended. if the client does not want to amend the tax return, then the CPA should question whether or not they want to continue providing services to this client. The fact that the client is not willing to comply with this request brings their character into question. The CPA should consider whether there may be other “skeletons in the closet” that may eventually be dis-covered if they decide to continue to be associated with the client. Ultimately, it comes down to a matter of profes-sional judgment.

if you encounter a similar situation and have any questions as to how you should respond, or what course of action to take, please contact the WSCPA Pro-fessional Conduct Committee through Julie Phipps, Manager of Professional Standards at [email protected] or (425) 586-1132. The Professional Con-duct Committee operates in an environ-ment of voluntary compliance. When a member seeks resolution to a conduct question, the Professional Conduct Com-mittee will provide a responsible answer or resource, but will not seek to penalize the inquiring member.

Ryan Bartlett, CPA, is Accounting and Assurance Manager at Bader Martin, P.S. He can be reached at [email protected].

Whether or not you decide to proactively report your client’s failure to amend their return to the iRS or not is up to you, although it may be in your best interest to do so.


COMMiTTEES

Happy New year! it is that time of year again when millions of

Americans make their list of resolutions to start a new diet, get in shape, change their spending habits, etc. The beginning of a fresh new year does seem like a great time for self-reflection and to consider ways in which life could be improved— by taking action and doing things differ-ently, or by taking on something new.

The Washington Society of CPAs cor-dially invites you to consider making a stronger connection with your member-ship association. you could consider it a “new year’s resolution” if you like, but

resolve to Become Involved

WSCPA COMMiTTEESAccounting Auditing & Review Standards

Reviews and responds to exposure drafts issued by standard setting bodies and communicates to members about activities being done by the AARS Committee on behalf of membership

Business valuation & Litigation Services

Focuses on developing technical skills and relationships among members while responding to standard set-ting bodies as needed

Construction & Real Estate industries

Plans the annual Pacific NW Construction industry Conference which examines trends on topics affecting construction accounting and financial management

Financial Statement Review Performs free reviews of redacted statements and exists to enhance WSCPA member’s knowledge of chang-ing GAAP, SSARS and GAAS reporting standards

Firm Administrators Provides a forum for office administrators to discuss issues, listen to speakers and share best practices

Government Accounting & Auditing

Responds to standards setters and plans the annual Government Accounting & Auditing Conference and participates in events that promote the profession to students

international Plans the annual international Tax Conference which explains new rules affecting international tax practice

iT Directors Meets regularly to discuss information technology issues and implementation

New Professionals Puget Sound or Spokane –Creates and communicates networking opportunities for new professionals and promotes the CPA profession to students

Not-for-Profit Provides a forum for accounting professionals from public accounting firms and not-for-profit organizations to share expertise and best practices and plan the annual Not-for-Profit Conference

Pacific Tax institute Plans the annual Pacific Tax institute which is designed for experienced tax professionals

Peer Review Engagement RAB* Reviews and approves peer review reports issued under the AiCPA Peer Review Program

Peer Review System RAB* Reviews and approves peer review reports issued under the AiCPA Peer Review Program

Personal Financial Planning Shares ideas, networks and gives input to legislation/regulation/professional standards

Professional Conduct* Assists members in understanding and applying the Professional Code of Conduct. Work with the AiCPA Ethics Division to investigate complaints against members of alleged violations of the Professional Code of Conduct

Taxation Provdes monthly forum for topical speakers and collaborates with the iRS,Washington State Department of Revenue and AiCPA regarding issues of concern to practitioners and clients. Committee members provide resources to the WSCPA members, including subject-matter referrals and tax checklists

* Certain requirements may apply in order to join this committee.

“Participating on WSCPA committees has opened doors by allowing me to connect with WSCPA members both on a mutually beneficial professional level and personal level.”

Mark Hugh, CPA

perhaps it’s something you’ve already thought about and just had not found a way to become more involved.

it’s time to make a difference by join-ing a WSCPA Committee! When you participate on a committee, you will interact and build relationships with CPA colleagues, improve your own skills and become a resource for others. you can help the WSCPA to realize its role as “your advocate” as you will help to protect and shape the profession through advocacy to regulatory and leg-islative bodies.

Take a moment to review the list of

active committees and decide which one is the right fit for you, then visit www.wscpa.org and click on “WSCPA Com-munity” and then “Committees” and sign up today.


TEChNOLOGy TiP

Wouldn’t it be great to walk into a coffee shop and see your col-

leagues sitting around tables ready to discuss issues affecting the profession, sharing resources and generating leads for career opportunities? That is exactly the sort of thing that happens in Linke-din Groups - only it doesn’t happen in a coffee shop, it happens in the cloud.

As you may be aware, Linkedin is a professional social network that allows you to leverage your personal brand as you present your job history, education, and even testimonials about services you have provided. Seeking out former colleagues, clients and friends helps you to get connected. The Linkedin Groups module helps you to expand your net-work as you meet others and exchange ideas related to your profession and area of practice.

WSCPA Groupin September 2010, the Washington

Society of Certified Public Accountants began a “members only” group on Linke-din. it took very little time for people to discover the usefulness of the Linkedin Discussions feature. inside this closed group setting, WSCPA members found they were able to comfortably commu-nicate with each other on such topics as: financial reporting, revenue audits, tax preparer identification, the process of becoming a CPA, and more. People began to ask questions of one another, as well as offer suggestions for how to handle specific issues. The WSCPA group discus-sion board quickly became a new, pow-erful forum for knowledge sharing and networking. it’s much like having a pri-vate table in the corner of a coffee shop where you can chat with your colleagues.

Get StartedSo, how can you participate? it all

begins with just a few steps:

LinkedIn - participating in DiscussionsBy Susan Winkle, WSCPA Web Developer & e-Marketing Specialist

How to Participate in Discussions

Now that you are set up, visit the group page and click on the Discussions tab.

Step 1 – Sign up at Linkedin – a basic account is free! www.linkedin.com

Step 2 – Send a request to join the WSCPA group on Linkedin. Using the search box on Linkedin, be sure to select “Groups” in the

drop down menu, type in “Washington Society of Certified Public Accountants;” or, find the group easily by clicking on the Linkedin icon at the bottom of any page on www.wscpa.org.

Once you’ve located the group information, click on “Join Group.”

Step 3 – Once your request has been approved, you’ll be able to view group activity.

Click on the Discussions tab

>lSearch for the Washington Society of Certified Public Accountants Group >)


TEChNOLOGy TiP

View “This Week’s Top influencer”

>lParticipate in the discussion

>)

Click on the headline of a discus-sion and read. interact through a variety of ways:

1. Like the discussion. This is a simple way to acknowledge that you have read the post and like what the person posting has to say.

2. Comment on the discussion. Add your voice to the dialogue and gain visibility as your com-ment is viewed by others in the group.

3. Follow the discussion. When you follow a discussion, you will receive e-mail notifications whenever new comments are added. if you’re ready to stop following a conversation, simply click Unfollow.

4. Use extreme caution in deciding to Flag an item. This should be used only when a discussion is truly inappropriate. The group administrator will ultimately decide if the post should be removed.

5. Reply privately – while you may not “be seen” with this type of response, it is still a great way to make a connection with another WSCPA member. This function is found under the More tab.

While it certainly gives you visibility when you participate in group discus-sions in these various ways, starting a dis-cussion will help brand you as an expert in your field. here is what to do:

1. Share a website link to an article on a topic that would be of interest to your colleagues, and write a few words of intro-duction as you post it.

2. Seek advice. For example, ask a specific question about an area of practice that may be less familiar to you. Avoid beginning your group participation with self-focused questions such as “how can i find a job?”

view “This Week’s Top influencer” by clicking on the Members tab and (if you

don’t see a name right away, click a few more times on the tab). Click on “Follow” underneath that member’s profile photo to watch discussion activity. if you click on the name of the author, you will be taken to a page that lists discussions he or she has posted. Click on the title of that post and you will be taken back to the Discussions tab where you will now see that post at the top.

Search discussions by clicking on the Search tab in the group’s navigation. here is the place you can easily view:

• Discussions you’ve Started• Discussions you’ve Joined• Discussions you’re Following

Use the More tab to edit your set-tings to control your e-mail notifications, as well as to view your own group activity.

Plan to check group activity two to three times per week and be sure to Like or Comment on a discussion whenever possible. Be sure to send an invitation to connect with others as you get to know them through interaction on the discus-sion board.

Today, more than 2,200 WSCPA members are connected through the Washington Society of Certified Public Accountants Group on Linkedin. if you have yet to connect, stop by today and join the conversation. visit www.wscpa.org and click on the Linkedin icon at the bottom of any page. Remember to participate in the discussions!

Susan Winkle can be reached at [email protected].

More than 2,200 WSCPA members are connected through the Washington Society of Certified Public Accountants Group on Linkedin. if you have yet to connect, stop by today and join the conversation.

Click the Linkedin icon at www.wscpa.org or in any WSCPA e-mail.


FiNANCiAL REPORTiNG

According to Wikipedia, a per-fect storm is a rare combination

of circumstances that aggravates a situation drastically. The accounting profession most likely will face such an experience soon.

Three events have the potential to alter dramatically financial reporting for both public and non-public compa-nies alike. These events began to unfold in 2011:

• international Financial Report-ing Standards (iFRS) adoption by public companies

• introduction of major GAAP revisions for private companies and

• Reformatting of everyone’s financial statements

What makes the situation even more complex is the fact that different agen-cies are driving each initiative. The Securi-ties and Exchange Commission (SEC) is responsible for iFRS adoption. The Finan-cial Accounting Foundation (FAF) and the American institute of CPAs (AiCPA) are driving the GAAP revisions. The Financial Accounting Standards Board (FASB), as the third party to the process, owns the reformatted financial statement conver-gence project.

This article will explore how to Pre-pare for Accounting’s Perfect Storm. My goal is to both alert and alarm you with respect to the approaching changes gen-erating interest and action to help you weather the impending storm. Never before in the history of United States accounting, have so many critical events occurred together. Let us prepare our-selves for the impact!

Ten Tactics for Preparation:1. Determine What Impacts You

The initial step a company needs to take is deciding which perfect storm

elements will affect your business. The division between public and private com-pany may seem trivial; however, lending, underwriting or business strategy consid-erations may force many private compa-nies into public company reporting.

2. Identify Your ExpertsThe number of iFRS, SME reporting

and convergence experts currently on the payroll will surprise most companies. These employees bring formal education, iFRS-based reporting experience and direct foreign subsidiary management expertise to the office every day. Take advantage of their skills. Prepare a roster of these critical subject matter experts.

3. Consider the Relevant IssuesUsing your team of financial subject

matter experts, meet with senior man-agement and assess how the storm will impact your business. impact areas will include at a minimum, computer systems, financial reporting policies and proce-dures, user education, incentive compen-sation, loan agreements, tax planning, and performance metrics. Brainstorm each of these areas to avoid surprises as your implementation plans move forward.

Remember, the more your can do with-out consultant assistance the less costly the process becomes.

4. Develop a Plan for SuccessApproach this process as product

development or construction proj-ect. Prepare an activities timeline with deadlines and individual responsibili-ties. Review the plan frequently since the storm is dynamic and may suddenly change direction. Use this plan as a vehi-cle for updating senior management and other key stakeholders, including your external auditors. Recall the old adage: “Those who fail to plan, plan to fail.”

5. Generate Pro-forma FinancialsAccess the FASB’s website and down-

load a copy of the staff draft of the finan-cial statement presentation exposure draft. Use this document to prepare sev-eral pro-forma financial statement alter-natives. Once again, your financial subject matter experts will provide valuable assistance in completing this task.

Depending on your company’s unique facts, circumstances and business strategy, i would suggest three sets of pro-forma financials:

ten tactics to prepare for accounting’s perfect stormBy William F. O’Brien, MBA, CPA, Santa Clara University, Executive Education, Inc.


FiNANCiAL REPORTiNG

1. New format financials based on current U.S. GAAP

2. New format financials based on iFRS or proposed private company U.S. GAAP

3. Current format financials based on iFRS or proposed private company U.S. GAAP.

These modified financial statements will highlight the most significant mea-surement and reporting changes areas. identifying these key areas will help focus your management team’s efforts in deal-ing with the relevant day-to-day business issues, including the all-important loan covenant discussions with your lenders.

6. Keep Executive Management Informed

Do not keep executive management in the dark. Although your operating management will most likely participate in transition activities, executive staff will generally remain interested observers—some more interested than others. Take the time to positively support the rea-sons for these changes and the numerous long-range benefits of globally consistent financial reporting. Consider this fact: Research showed a sixty basis-point drop in the cost of capital when the European Union adopted iFRS in 2005.

in addition, keep the Board of Direc-tors and C-Suite occupants up-to-date on the current status of the storm’s three components and your company’s prepa-ration efforts. Quarterly updates should become a standard reporting practice.

Finally, encourage executive man-agement to critically respond to the regulators serving as the decision makers in the process. This is an extremely important task. if the regulators do not hear from the issuers, the entire implementation project can veer from a practical enhancement to a more theo-retical exercise.

7. Monitor the LandscapeStay current! Begin with the AiC-

PA’s iFRS website and continue with the dedicated websites of your current auditors. Routinely scour the media for updates in each storm component. you may nominate one of your financial subject matter experts as your com-pany’s “weather-person.” This individual will have the responsibility to monitor the information sites and report on any significant happenings that might potentially impact the company. The land-scape will change. Don’t get caught in an unexpected downpour!

8. Continuously Improve Your Competencies

Begin a personal commitment to con-tinuing education not only in the the financial reporting field but also in the business areas impacted by the storm. if you initiate the process now, the large volume of required knowledge will not seem as daunting in the future.

Lay out a formal curriculum for both yourself and your staff. Look for sources of interesting, but relevant, courses. Dis-cover what other companies are doing in response to the storm.

As you become more knowledgeable, it will be easier for you to communicate concepts to your co-workers. it addi-tion, you will become more versed in dealing with the business issues related to the transition efforts. This will ulti-mately help to ease the the entire pro-cess’s complexity.

9. Communicate with Critical Stakeholders

Communicate, communicate, commu-nicate! As the storm clouds gather closer to our shore, rumors and concerns will heighten. Consider producing a periodic newsletter relating current status, prepa-ration activities and issues important to

each stakeholder. For example, employ-ees are generally more concerned about workload rather than bond ratings. Keep the various readers’ perspectives in the fore-front of your mind.

Pay special attention to your external auditors. Make sure that they are clearly on the same page as your financial sub-ject matter experts. Failure to do this could result in some unexpected report-ing surprises downstream.

10. Don’t PanicRemember this is simply a process,

rather large and encompassing, but none the less, a process. Approach it step-by-step. Do not allow yourself to become over-whelmed. your company will not be the only player in this game. Listen and learn from what other organizations are doing. Become a sponge for information.

Above all, start now! Do not procrastinate.

Some Final ThoughtsChange is never easy. Learning to adapt

to new environments and embracing new perspectives is equally challenging. Ten simple steps of anything rarely solve the complex issues we face in business and life. it is my desire, however, that these Ten Tactics for Preparation will encourage you to adapt and embrace the changes and challenges you face, as the “Perfect Storm” gets closer in the months ahead.

The preparation you take today will help protect you from the future’s unknown impact.

William F. O’Brien, MBA, CPA, a Santa Clara University faculty member, is an inter-nationally recognized author and lecturer in the areas of corporate financial manage-ment and international accounting. He is an Executive Education, Inc. discussion leader and a frequent speaker at professional CPA events.


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discounted pricing for members. Eight, 16 or 20 CPE credits per conference.

www.wscpa.org/conferences

CPE Status ToolThis free online system keeps track of your CPE, no matter where you get the credits.

Creates one CPE report for license renewal. www.wscpa.org

(Education > My Transcripts)

Save on self-study courses.

www.wscpa.org/selfstudy

GOAL - Protect your business and your family

A liability insurance provider with superior loss prevention services, hotlines, pre-claim

assistance and more. www.camico.com | (800) 652-1772

health, dental, disability and life benefits for employers and individuals.

Plus, hR services for employers. www.emspring.com

(877) 550-0088

Save on Disability and Long Term Care insurance.

www.pacificadvisors.net (877) 455-9580

Get protection with coverage on Directors & Officers, Fiduciary

and Employment Practices liability insurance.(206) 695-3129

GOAL - Market yourself or your businessWSCPA Career Center

Job listings, Career Workshops, salary calculators, resume listings and more to help

you find a job or your next employee. www.wscpa.org | (800) 272-8273

Find a CPA Referral Service

Boost your client base by joining the CPA Referral Service.

www.wscpa.org | (800) 272-8273

NetworkingMake professional connections with other WSCPA members at networking and happy hour events, chapter and committee meetings. Join the WSCPA group on Linkedin and

follow the WSCPA on Facebook.www.wscpa.org | (800) 272-8273

GOAL - Save money on services needed to conduct everyday business

Save up to 30% on 175 CCh tax and accounting titles

http://cchgroup.com/members/wscpaDiscount code: y5596

Save on payroll processing, hR and other services.

(425) 235-1112http://accounting.paychex.com/wscpa

Save up to 40% on Canon copiers.www.ebmco.com | (866) 707-9111

Save up to 30% on shipping services.www.savewithups.com/enroll

Promo code PAC299

Save on iT support. Free server monitoring and desktop management with support purchase.

www.isoutsource.com | [email protected] | (206) 374-0251, Ext. 2Mention discount code WSCPA in your inquiry.

Save up to 25% on copying/printing. www.wscpa.org | (800) 272-8273

Save up to 35% on select office supplies.

www.wscpa.org | (800) 272-8273

Save 2% on hardware/software available through Office Depot.

http://statemember.techdepot.com

Low pricing on audio and

Web conferencing.

Call to enroll (800) 636-2377

GOAL - Pass the CPA exam or help your staff pass the CPA exam

Save up to $300, no enrollment deadline, and free PassMaster software.

www.beckercpa.com | (800) CPA-ExAM

$696.50 for full CPA Exam review (software, reference books, simulations and simulated exams)

www.eammatrix.com/wa-cpa (800) 272-7277

Save up to 30% on CPA Exam review.www.schweser.com/portal Portal code WASOCCPA

Save 30%-40% on self study tools to help you pass the CPA exam. Coupon code

WACPA 30 (single item purchases). Bundle pricing: (800) 272-0707, Ext. 212

Save 15% on CPA Exam review courseswww.rigos.net | (206) 624-0716

Pay only $1,545 for all parts. Live, online or USB formats.

www.rogercpareview.com/partners/societies

Save 30% on self study review courses.www.yaegercpareview.com

(301) 874-4900Full review code WSCPA

individual review code WSCPA1

AICPA Professional Ethics Exam

Save on the ethics exam required to obtain an initial CPA license in WA.

www.discovercpa.org (Exams > Professional Ethics Exam)

new Year’s Goals? turn to Your member Benefitsyour WSCPA members only discounts can help you reach your professional and personal goals this year, while saving you money.

The money you save could more than pay for your membership! Learn more at www.wscpa.org (enter “benefits” in the search box).


MEMBER DiSCOUNTS

Save 25% on U. S. Master Tax Guide when you order by January 31

Order your copy of the industry’s leading tax guide by January 31 and save 25% off the list price of $86.50. The WSCPA member price is just $66.38 plus tax and shipping. you will not be billed until after the book ships. (Cancel before shipment without charge.)

The 2012 edition will contain timely and precise explanations of federal taxes for individuals, corporations, partnerships, estates and trusts.

To order, visit http://tax.cchgroup.com/members/wscpa [Click “Browse CChGroup.com, select “Books” and search for “U.S. Master Tax Guide (2012)]. Enter your member discount number (y5596) at checkout.

WSCPA members can now save up to:*• 16% off UPS Commercial Ground• 30% off UPS Express air and

international shipments• 30% off UPS Next Day Air

When you ship with UPS, you get the peace of mind that comes from using the carrier that delivers outstanding reliability, greater speed, more service, and innova-tive technology. UPS guarantees delivery of more packages around the world than anyone, and delivers more packages overnight on time in the US than any other carrier. Simple shipping! Special savings! it’s that easy!

Tax Season Shipping? UPS is an approved private delivery service by the iRS to ensure that your clients meet the “timely mailing as timely filing/paying” rule for tax returns and payments. The iRS accepts the following UPS services: UPS Next Day Air, UPS Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A.M., UPS Worldwide Express Plus,UPS Worldwide Express.

Use promo code PAC299 to enroll.

For complete details or to sign up go to www.savewithups.com/enroll.

Total Weekly Gross Shipping Charges

UPS Next Day Air® or Air Saver®

(Ltr/Pkg)

UPS Worldwide Express®/ Saver® / Expedited® Export (Ltr/Doc/Pkg)

UPS Commercial Ground

(1-10 lbs) (11-30 lbs) (31-150 lbs)

Up to $49.99 16% 16% 3% 7% 11%

$50 to 99.99 17% 17% 4% 8% 12%

$100 to 249.99 18% 18% 5% 9% 13%

$250 to 499.99 20% 20% 6% 10% 14%

$500 to 999.99 24% 24% 7% 11% 15%

$1,000 and up 30% 30% 8% 12% 16%

Improved Ups Discount for members Just in time for tax season shipping needs

Here’s a sample of the discounts you can receive by enrolling in

the UPS Savings Program:

*See Rates and Services Chart for detail of Savings and Discounts, which depend on total weekly gross shipping

charges incurred.

Members currently enrolled in the UPS Savings Program must re-enroll to take advantage of

this new exclusive offer.

When you

need to ship

to the iRS...

save with UPS


FiNANCiAL LiTERACy

The Employee Benefits Research institute (EBRi) recently released

the results of a study examining the finan-cial capability and behavior of individuals on a state by state level. EBRi used data from the National Financial Capability Study (NFCS), designed by the FiNRA investor Education Foundation with input from the AiCPA. A state-by-state online survey was conducted to col-lect the information for the study. it was designed to measure financial literacy and financial behavior and see if these vary across states. The study was designed to isolate factors that can be attributed to state residency instead of other individual characteristics such as age group, ethnic-ity, gender, education, income, marital status and labor force status.

To get a better understanding of an individual’s financial capability, the survey asked questions such as:

• imagine that the interest rate on your savings account was one percent per year and inflation was two percent per year. After one year, how much would you be able to buy with the money in this account?Answer choices: a) More than today; b) Exactly the same; c) Less than today.

• A 15-year mortgage typically requires higher monthly pay-ments than a 30-year mortgage, but the total interest paid over the life of the loan will be less.Answer choices:

a) True; b) False.

• Buying a single company’s stock usually provides a safer return than a stock mutual fund.

Answer choices: a) True; b) False

As many of us know, it’s one thing to have knowledge, but it’s another to actu-ally put it into practice. To assess this, par-ticipants were asked questions like:

• have you set aside emergency or rainy day funds that would cover your expenses for three months, in case of sickness, job loss, economic downturn, or other emergencies?Answer choices:

a) yes; b) No.

• have you ever tried to figure out how much you need to save for retirement?Answer choices: a) yes; b) No.

The survey may be able to serve as a tool for policymakers, educators and community based groups to determine how to help their citizens. To see the whole report and sample questions, go to:xwww.ebri.org/pdf/notespdf/EBRi_Notes_11_Nov-11.hCS-FinLit.pdf.

Even when accounting for demo-graphic factors, the study found that where you live makes a difference. Washington ranked high—number five for capability with a score of 66.4% and number eight for financial behavior with a score of 57.7%. The highest score for capability was 69.3% (New hampshire) and the highest behavior is 60.3% (Alaska). Although Washingtonians did well in the standings the scores still show we have more work to do.

The good news is something seems to be working in Washington. We’re for-tunate to live in a state that has many people working on creating more oppor-tunities for financial education. This is taking place at schools, colleges, non-profits, workplaces and through coali-tions across the state. Campaigns such as America Saves Week, Financial Literacy Month and Money Smart Week highlight national and local resources for financial education. CPAs, along with other finan-cial professionals, have played a vital role in all of these efforts. The next generation of CPAs is also contributing to the efforts as well through Beta Alpha Psi and Asso-ciation of Student Accountants clubs.

With all hands on deck, we may see a bump in the scores and Washington moving up through the ranks.

Amy O’Donnell can be reached at [email protected].

Washington ranks in the top Five for Financial CapabilityBy Amy O’Donnell, WSCPA Financial Literacy Program Manager


MEMBER DiSCOUNTS

photo album

Scavenger Hunt - Hard Rock Cafe Seattle - October 2011

PacificNWConstructionIndustryConference Bell harbor international Convention Center, Seattle - November 10-11, 2011

Not-For-ProfitConference Bell harbor international Convention Center, Seattle - November 17-18, 2011

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SPONSOR. CONNECT.

2012 CONFERENCE SPONSORSHIPNetwork with WSCPA members. Market your products and services in a one-on-one environment. Become a sponsor!

Contact Rachel ingalls, [email protected], (425) 586-1112www.wscpa.org > Newsroom > Advertise with WSCPA www.wscpa.org/conferences

CONFERENCES

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CPE Digest

Business and Industry

Build your own Cpe conference with

Cluster CPEMarch 15-16 | WSCPA Learning Center, Bellevue8 seminars, each worth 4 CPE credits

here’s a unique way to get an update on business and industry topics: Cluster CPE — two days of CPE courses on a range of popular business and industry topics. Select four courses from a lineup of 8 four-hour CPE programs to create your own two-day CPE conference. Network with other attendees during lunch, which is provided for all attendees. From an update on FASB developments to the latest trends for today’s financial manager, these two days provide the updates and essential information you need to know.

if you are unable to attend both days, you can select the seminars that fit your schedule. The programs will be held at the WSCPA Learning Center in Bellevue. Each 4-hour seminar is offered to members for only $180.

To learn more about each of the programs below, enter “CL4” or the codes in the catalog search box at www.wscpa.org/CPE/catalog.

MARCH 15 CODE

8-11:30am

select one:

Analyzing your Company’s Financial Statement

CL4FSABM

New FASB Developments for Business & industry

CL4FASBi

12:30-4pm

select one:

Uncertainty in income Taxes: A Must Know for Tax CPAs and Accountants/Auditors

CL4FiN48

Enhancing the Success of your Organization with a Winning Culture

CL4TBFF

MARCH 16 CODE

8-11:30am

select one:

Financial Fraud, Forensics and the CPA CL4FFF

Controller’s Update: Latest Trends for Today’s Financial Manager

CL4SKSB

12:30-4pm

select one:

Purchasing, inventory, and Cash Disbursements: Common Frauds and internal Controls

CL4PCD

Essential Skills for the Survival and Growth of your Organization

CL4SGyC

WEBCAST: implementing the Right Business Technology - Where to Best Spend your Money

how to best invest in technology is one of the top 10 questions business owners ask, according to a recent AiCPA survey. Threading through the world of technology is often a controller, CFO or CEO nightmare. it is common to ask: Where should i spend my money? Where do i get the big-gest bang for my buck? And, where should i focus my lim-ited resources? Learn about the most advantageous business technology being deployed, in as plain English as possible.

Dr. Bob Spencer and Randy Johnston are recognized authors and have lectured internationally on business technol-ogy, with more than 40 years of experience each providing business technology advice. This seminar is appropriate for small business to billion dollar enterprises.

Register today at www.wscpa.org/cpe/catalog (enter “WEB387” in the keyword box).

Note: This is a webcast replay of an earlier event, with panelists standing by, in real time, to respond to participant questions. The Live replay includes all original content and materials. This format allows for Live CPE credit.

WhEN: January 20 7 am-3 pmFEES: Members $235 CPE: 8 tech credits CODE: WEB387

Where do i get the

biggest bang for my

technology buck?


CPE DiGEST Register at www.wscpa.org or page 37

Thank you!

Firms save time and money with WsCpa In-house training programs

The same high quality materials and speakers featured in many of your favorite conferences and seminars are available for CPE events for your firm. Choose from:

• A full line of ready-made in-house training programs created by nationally recognized Professional Devel-opment providers.

• WSCPA Programs - classes customized by WSCPA instructors based on your ideas or needs.

• An impressive array of local instructors with state-specific courses.

DATE CONFERENCE April 19-20 Governmental Accounting &

Auditing ConferenceMay 11 Emerging Leaders ConferenceMay 14 international Tax ConferenceMay 18 new! Health Care ConferenceMay 21 Washington State Tax ConferenceJune 15 Women’s Leadership SummitAug 16 Farm Tax ConferenceSep 5-6 Northwest Accounting Educators

ConferenceOct 29-30 Pacific Tax instituteNov 1 Accounting and Auditing ConferenceNov 8-9 Pacific NW Construction industry

ConferenceNov 15-16 Not-For-Profit ConferenceTBA Fraud ConferenceDec 10-11 information Technology Conference

Register and learn more at:

www.wscpa.org/conferences

2012Conferences

Mark your calendar!

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The Washington Society of CPAs Thanks 2011 in-house Training Clients:

Berntson Porter & Co PLLCClark Nuber PS

Clark Raymond & CompanyDaVita

Dwyer Pemberton & Coulson PCE&y

Group Healthhurley Williams & Cook PS CPAs

Jacobson Jarvis & Co PLLCJohnson Stone & Pagano PS

Larson Gross LLCMicrosoft

Peterson Sullivan LLPPWC

Russell investmentsSeattle City Light

Sweeney Conrad PSUniversity of Washington

vSh inc PSWatson & McDonell PLLC

To learn more about in-house Training, please contact:

Miki McLeanin-house/Education Coordinator(425) 586-1136 (800) 272-8273, Ext. [email protected]

Or visit www.wscpa.org (Education Section)


Fees

Date CPE Credits

Course Code WSCPA Member Fee

Non- MemberFee

AiCPA Member Discount

Facility Subject

# Type

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

Register at www.wscpa.org/CPE/catalog or page 37 EDUCATiON AND EvENTS

ç New | non-tech credits | E Ethics credits | Conference | Y yellow Book | C CFP | l Chapter event | Networking Event | S Season Ticket and Coupons N/A

Thank you!

Fees

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Non- MemberFee


Facility Subject

# Type


EvENTS BY LOCATION WSCPA education and events scheduled for January-May 2012 are listed below, chronologically by location. if you are looking for a program in another location, it may be scheduled for later in the year. Using the online CPE/Event Catalog at www.wscpa.org/CPE/catalog, you can search by location.

2012 EvENT SCHEDULE To view the complete schedule of events through May 2012, refer to the CPE/Event Catalog at www.wscpa.org or the Washington Professional Education Catalog. To request a copy of the catalog, call (800) 272-8273 (toll-free in Washington) or e-mail [email protected].

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

SUBJECTS The main subject area is listed for each program.

A&A

CS

EB

PFP

Ethics

GNP

MG

PD

SK

TAX

TEC

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

Accounting and AuditingConsulting ServicesEmployee BenefitsEstate/Financial PlanningEthicsGovernment / NFPManagementPersonal DevelopmentSpecialized KnowledgeTaxationTechnology

Bellevue

Jan 9 8.0 Dealing With Difficult People, 8am-4pm DWDP 275 350 WSCPA PD

Jan 10 8.0 Negotiating for Success and Building Relationships at the Same Time, 8am-4pm NFSA 275 350 WSCPA PD

Jan 17 8.0 Andy Biebl’s Tax Advisor’s Update, 8am-4pm BTAU02 325 400 Meydenbauer Center Tax

Jan 19 8.0 Preparing individual Tax Returns for New Staff and Para-Professionals, 8am-4pm PiTR 285 360 WSCPA Tax

Jan 20 8.0 C The Complete Guide to Preparing Limited Liability Company, Partnership, and S Corporation Federal income Tax Returns, 8am-4pm

PLPS 285 360 WSCPA Tax

Jan 24 8.0 Auditing Standards Update and Review by Walter haig, 8am-4pm AUUR02 305 380 WSCPA A&A

Jan 25 8.0 GAAP Update and Review for Small and Medium-Sized Entities (SMEs) by Walter haig, 8am-4pm

GURSME06 305 380 WSCPA A&A

Jan 26 8.0 Word Tips, Tricks & Techniques, 8am-4pm COMWO01 240 315 WSCPA Tec

Jan 26 8.0 Compilation and Review Standards Update and Review by Walter haig, 8am-4pm CRUR07 305 380 WSCPA A&A

Jan 27 8.0 introduction to viSiO, 8am-4pm COMvi 240 315 WSCPA Tec

Jan 27 8.0 Personal Financial Accounting: A Prescription for Achieving and Managing Wealth by Walter haig, 8am-4pm

PFA02 305 380 WSCPA A&A

Jan 30 8.0 AiCPA’s Annual Federal Tax Update, 8am-4pm PTU 275 350 -30 WSCPA Tax

Feb 6 4.0 E CPE in Ethics: A Requirement in Washington State, 8-11:30am CENRW415 180 215 WSCPA Ethics

Feb 13 8.0 Cash Flow Planning & Management with Excel, 8am-4pm COMEx08 240 315 WSCPA Tec

Feb 14 8.0 introduction to Microsoft PowerPoint, 8am-4pm COMPP 240 315 WSCPA Tec

Feb 15 8.0 integrating Microsoft Office, 8am-4pm COMMO 240 315 WSCPA Tec

Feb 16 8.0 Crystal Reports introduction, 8am-4pm COMCR 240 315 WSCPA Tec

Feb 17 8.0 PC Trouble Shooting & Maintenance, 8am-4pm COMPC 240 315 WSCPA Tec

Feb 21 8.0 intermediate Excel, 8am-4pm COMEx09 240 315 WSCPA Tec

Feb 22 8.0 Excel Pivot Tables, 8am-4pm COMEx10 240 315 WSCPA Tec

Feb 23 8.0 Excel Data Analysis, 8am-4pm COMEx11 240 315 WSCPA Tec

Feb 24 8.0 Excel visual Basic Macros, 8am-4pm COMEx12 240 315 WSCPA Tec

Mar 7 8.0 intermediate Access, 8am-4pm COMAC02 240 315 WSCPA Tec

Mar 8 8.0 Excel Data Analysis, 8am-4pm COMEx13 240 315 WSCPA Tec

Mar 9 8.0 Word Tips, Tricks & Techniques, 8am-4pm COMWO02 240 315 WSCPA Tec

Mar 10 8.0 Analytical Review Procedures Using Excel, 8am-4pm COMEx14 240 315 WSCPA Tec

Mar 15 4.0 New FASB Developments for Business & industry, 8-11:30am CL4FASBi 145 180 WSCPA A&A

Mar 15 4.0 Uncertainty in income Taxes: A Must Know for Tax CPAs and Accountants/Auditors, 12:30pm-4pm

CL4FiN48 145 180 WSCPA A&A


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type


EDUCATiON AND EvENTS Register at www.wscpa.org/CPE/catalog or page 37


Mar 15 4.0 Analyzing your Company’s Financial Statement, 8-11:30am CL4FSABM 145 180 WSCPA A&A

Mar 15 4.0 Enhancing the Success of your Organization with a Winning Culture, 12:30pm-4pm CL4TBFF 145 180 WSCPA PD

Mar 15 1.5 S l

Fraud Update, 7:15-9am ChBA07 30 35 Red Lion Bellevue inn A&A

Mar 16 4.0 Financial Fraud, Forensics and the CPA, 8-11:30am CL4FFF 145 180 WSCPA A&A

Mar 16 4.0 Purchasing, inventory, and Cash Disbursements: Common Frauds and internal Controls, 12:30-4pm

CL4PCD 145 180 WSCPA A&A

Mar 16 4.0 Essential Skills for the Survival and Growth of your Organization, 12:30-4pm CL4SGyC 145 180 WSCPA MG

Mar 16 4.0 Controller’s Update: Latest Trends for Today’s Financial Manager, 8-11:30am CL4SKSB 145 180 WSCPA MG

Apr 19 8.0 AiCPA’s Annual Update for Controllers, 8am-4pm SKSB02 275 350 -30 WSCPA A&A

Apr 19 1.5 S l

State and Local Tax Update, 7:15-9am CHBA08 30 35 Red Lion Bellevue inn Tax

Apr 23 8.0 introduction to QuickBooks for the Accounting Professional, 8am-4pm COMQB05 240 315 WSCPA Tec

ç Apr 23 8.0 Convergence and Private Company Accounting: More Changes on the Financial Reporting horizon, 8am-4pm

CPCA 275 350 WSCPA A&A

Apr 24 8.0 Excel Pivot Tables, 8am-4pm COMEx15 240 315 WSCPA Tec

ç Apr 24 8.0 Corporate Finance Check-up: Renovate your Analytical Toolbox, 8am-4pm CFC 275 350 WSCPA A&A

Apr 25 8.0 Charting with Excel, 8am-4pm COMEx16 240 315 WSCPA Tec

Apr 26 8.0 Excel Functions, Tips, Tricks, & Techniques, 8am-4pm COMEx17 240 315 WSCPA Tec

May 7 8.0 More QuickBooks for the Accounting Professional, 8am-4pm COMQB06 240 315 WSCPA Tec

May 8 8.0 Advanced Excel, 8am-4pm COMEx18 240 315 WSCPA Tec

May 9 8.0 introduction to Access, 8am-4pm COMAC01 240 315 WSCPA Tec

May 10 8.0 introduction to SQL Statements, 8am-4pm COMSQ02 240 315 WSCPA Tec

May 11 8.0 Cash Flow Planning & Management with Excel, 8am-4pm COMEx19 240 315 WSCPA Tec

ç May 15 8.0 innovative Solutions to Real-World Problems for Today’s Financial Professional, 8am-4pm

iSFP 275 350 -30 WSCPA MG

ç May 16 8.0 Expanding the Role and influence of CPAs in Organizations, 8am-4pm ERi 275 350 -30 WSCPA MG

ç May 17 8.0 Trusted Business Advisor Workshop ii, 8am-4pm TAW2 275 350 -30 WSCPA MG

May 17 1.5 S l

Entrepreneurship and Succession Planning for the CPA Practitioner, 7:15-9am CHBA09 30 35 Red Lion Bellevue inn SK

May 21 8.0 Excel visual Basic Macros, 8am-4pm COMEx20 240 315 WSCPA Tec

May 21-22

16.0 iFRS Essentials with GAAP Comparison: Building a Solid Foundation, 8am-4pm iFRS02 475 590 -60 WSCPA A&A

May 22 8.0 importing/Exporting Data with QuickBooks, 8am-4pm COMQB07 240 315 WSCPA Tec

May 23 8.0 Using Outlook as a Personal information Manager, 8am-4pm COMOU 240 315 WSCPA Tec

ç May 23 8.0 FASB Review: Common GAAP issues impacting All CPAs, 8am-4pm FRU 275 350 -30 WSCPA A&A

ç May 24 8.0 Advanced Employee Benefit Plan Topics, 8am-4pm AEMP 275 350 -30 WSCPA A&A

May 30 8.0 Compilation and Review Standards Update and Review by Walter haig, 8am-4pm CRUR08 305 380 WSCPA A&A

May 31 8.0 GAAP Update and Review for Small and Medium-Sized Entities (SMEs) by Walter Haig, 8am-4pm

GURSME07 305 380 WSCPA A&A

Bellingham

Jan 11 8.0 Basis Calculations & Distributions for Pass-Thru Entity Owners Schedule K-1 Analysis, 8am-4pm

BCAD 275 350 Lakeway inn & Conference Center

Tax

Jan 12 8.0 Federal Tax Update - individuals (Form 1040), 8am-4pm FTUi04 275 350 Lakeway inn & Conference Center

Tax

Jan 13 8.0 Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065), 8am-4pm

FTUB04 275 350 Lakeway inn & Conference Center

Tax

Everett

Jan 10 2.0 S l

Business & individual Tax Update, 7:30-9:30am CHSN04 25 25 Everett Golf & Country Club

Tax

Apr 19-20

16.0 Governmental Accounting & Auditing Conference, 8am-4pm GAAC3 260 335 Everett Community College

GNP

Kirkland

Jan 18 2.0 S l

Federal income Tax Update, 7-9am CHSV08 25 25 Marriott Courtyard - Totem Lake

Tax


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type




Feb 15 2.0

S l

Communicating Across Generations, 7-9am CHSV09 25 25 Marriott Courtyard - Totem Lake

PD

Mar 21 2.0 S l

year in Review: Washington State and Local Tax News and Tips, 7-9am CHSV05 25 25 Marriott Courtyard - Totem Lake

Tax

May 16 2.0 S l

FASB Accounting Standards Update for Leases, 7-9am CHSV06 25 25 Marriott Courtyard - Totem Lake

A&A

Jun 13 2.0 S l

investment Planning in the Current Market Environment, 7-9am CHSV01 25 25 Marriott Courtyard - Totem Lake

PFP

Olympia

Jan 4 2.0 S l

Accounting and Auditing Update, 12-2pm CHOM09 40 40 indian Summer Golf & Country Club

A&A

Feb 1 1.0 S l

Washington State Board of Accountancy and WSCPA Program Update, 12-1pm CHOM05 25 25 indian Summer Golf & Country Club

SK

Mar 7 1.0 S l

institutional Fraud, 12-1pm CHOM06 25 25 indian Summer Golf & Country Club

SK

Apr 4 2.0 S l

Economic Outlook in Thurston County, 12-2pm CHOM10 40 40 indian Summer Golf & Country Club

SK

May 2 1.0 S l

Lease Accounting, 12-1pm ChOM07 25 25 indian Summer Golf & Country Club

A&A

Jun 6 1.0 S l

Estate Planning Update, 12-1pm CHOM01 25 25 indian Summer Golf & Country Club

A&A

Pasco

Jan 9 1.0 S l

Department of Revenue Update, 12-1pm CHCN04 15 15 Florentyna’s Restaurant SK

Port Townsend

May 17-18

16.0 Accounting and Reporting Standards Annual Update and Review by Walter haig, 8am-4pm

ARSUR04 525 640 Location TBA A&A

Seattle

Jan 17 1.0 S l

Economic and Revenue Outlook, 12-1pm ChSE02 35 35 Women’s University Club of Seattle

SK

Feb 21 2.0 S l

BGi (Bainbridge Graduate institute) and the Triple Bottome Line: The First 10 years, 7:30-9:30am

ChSE05 35 35 Women’s University Club of Seattle

SK

Jun 7 1.5 S WSCPA Annual Meeting with Professional issues Update, 7:30-9:30am AM 30 30 Washington State Conven-tion Center

SK

Spokane

Jan 16 8.0 Andy Biebl’s Tax Advisor’s Update, 8am-4pm BTAU01 325 400 Mirabeau Park Hotel Tax

Jan 18 2.0 S l

Economic Update, 12-2pm CHSP06 40 40 The Spokane Club SK

Apr 19-20

16.0 Governmental Accounting & Auditing Conference, 8am-4pm GAAC2 260 335 Northeast Washington Educational Service District 101

GNP

Tacoma

Apr 19-20

16.0 Governmental Accounting & Auditing Conference, 8am-4pm GAAC 335 410 Courtyard Marriott Tacoma

GNP

yakima

Jan 17 2.0

S l

Public Education and vocational Update, 7:30-9:30am ChyK05 25 25 holiday inn yakima SK

Feb 21 2.0

S l

New vision and Our Local Economy, 7:30-9:30am ChyK04 25 25 holiday inn yakima SK

Mar 20 2.0 S l

Going Global, 7:30-9:30am ChyK02 25 25 holiday inn yakima A&A

your Desk - Webcasts and Webinars

Jan 3 8.0 WEBCAST: Form 1041 Workshop Webcast, 8:30am-4:30pm WEB102 255 295 Webcast Tax

Jan 3 8.0 WEBCAST: Tax Exempt Organizations: Advanced Tax issues, 8:30am-4pm WEB103 255 295 Webcast Tax

Jan 4 8.0 WEBCAST: Fundamentals of 1031 Exchanges, 8:30am-4pm WEB105 255 295 Webcast Tax


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type




ç Jan 4 8.0 WEBCAST: The Art of high-End Estate Planning, 8:30am-4:30pm WEB104 255 295 Webcast PFP

Jan 5 8.0 WEBCAST: Personal Financial Planning for the New Decade, 8:30am-4pm WEB106 255 295 Webcast Tax

Jan 6 3.0 WEBCAST: Accounting’s Perfect Storm: Coming Changes That Will impact the Entire Profession, 7-10am

WEB368 99 129 Webcast A&A

ç Jan 6 2.0 WEBCAST: Reformatted Financial Statements, 11am-1pm WEB374 79 109 Webcast A&A

Jan 6 8.0 WEBCAST: Pension and Profit-Sharing Plan Strategies, 8:30am-4pm WEB108 255 295 Webcast EB

Jan 6 8.0 WEBCAST: Tax Procedure and Controversy-Principles and Strategies, 8:30am-4:30pm

WEB107 255 295 Webcast Tax

Jan 9 8.0 WEBCAST: Washington B & O and Sales Tax, 8am-4pm WEB267 235 265 Webcast Tax

ç Jan 9 8.0 WEBCAST: Construction industry Accounting & Tax Update, 7am-3pm WEB390 235 265 Webcast A&A

Jan 9 2.0 WEBCAST: SSAE 16 The New Standard for Service Organization Reporting, 9-11am

WEB394 109 Webcast A&A

Jan 9 8.0 WEBCAST: Federal and California Tax Update for individuals, 8:30am-4:30pm WEB109 255 295 Webcast Tax

ç Jan 9 2.0 WEBiNAR: Outlook Part 1 - E-mail Management Tips & Techniques (Basic), 8-10am WNR286 79 94 Webinar Tec

ç Jan 9 2.0 WEBiNAR: Outlook Part 2 - E-mail Management Tips & Techniques (Advanced), 11am-1pm

WNR287 79 94 Webinar Tec

ç Jan 10 8.0 WEBCAST: Financial Statement Fraud Not Just Wall Street’s Problem, 8am-4pm WEB273 235 265 Webcast SK

ç Jan 10 2.0 WEBiNAR: QuickBooks - Online Banking, 11am-1pm WNR288 79 94 Webinar SK

ç Jan 10 2.0 WEBiNAR: QuickBooks - Reconciling the Balance Sheet, 8-10am WNR289 79 94 Webinar SK

ç Jan 11 2.0. WEBiNAR: Outlook Part 3 - Calendar & Contact Management Tips & Techniques, 8-10am


Jan 11 8.0 WEBCAST: Private Foundations-- Advanced Tax Topics, 8:30am-4:30pm WEB110 255 295 Webcast Tax

ç Jan 11 2.0 WEBiNAR: Windows 7 - Tips & Techniques, 11am-1pm WNR291 79 94 Webinar Tec

Jan 12 4.0 E WEBCAST: Washington CPA Ethics and New Developments (A WA Requirement), 8am-11:30am

WEB282 159 189 Webcast Ethics

Jan 12 3.0 WEBCAST: Accounts Receivable Management - “Part 1 of 6 of the Technical Con-trollers Series,” 8-11am

WEB291 99 129 Webcast MG

ç Jan 12 2.0 WEBCAST: Managing the Accounting Function So you Become invaluable “Part 2 of 6 in the Technical Controller Series,” 11:30am-1:30pm


Jan 12 3.0 WEBCAST: Getting Stuff Done When you Don’t Own the Company - “Part 3 of 6 in the Technical Controllers Series,” 2-5pm


Jan 12 8.0 WEBCAST: Choice of Entity Workshop Webcast, 8:30am-4:30pm WEB111 255 295 Webcast Tax

ç Jan 12 2.0 WEBiNAR: Travel & Entertainment Expenses Review & Update, 10am-12pm WNR292 79 94 Webinar Tax

ç Jan 13 3.0 WEBCAST: it’s ALL in the Process! how to Generate Productivity and Break-through improvements “Part 4 of 6 in the Technical Controller Ser, 8-11am


ç Jan 13 2.0 WEBCAST: Setting the RiGhT Tone! A Finance Leader’s Best Tool for Employee Engagement “Part 5 of 6 in the Technical Controllers Series,” 11:30am-1:30pm

WEB318 79 109 Webcast PD

Jan 13 3.0 WEBCAST: Money Talks! Presenting Financial Concepts with Ease “Part 6 of 6 in the Technical Controllers Series,” 2-5pm


ç Jan 13 8.0 WEBCAST: Partnerships and LLCs Update, 7am-3pm WEB392 235 265 Webcast Tax

Jan 13 2.0 WEBCAST: Transfer Pricing: Basic Rules, Structures and More, 9-11am WEB393 79 109 Webcast Tax

Jan 16 2.0 WEBCAST: 2011 Multistate Tax Roundup, 9-11am WEB398 79 109 Webcast Tax

Jan 16 8.0 WEBCAST: Form 709: Gift Tax Returns and Basis, 8:30am-4:30pm WEB112 255 295 Webcast Tax

Jan 17 8.0 WEBCAST: Quality Control in a CPA Tax Practice, 8:30am-4pm WEB113 255 295 Webcast Tax

Jan 17 2.0 WEBiNAR: Excel - Auditing your Spreadsheets to Ensure Data integrity, 7-9am WNR293 79 94 Webinar Tec

ç Jan 18 8.0 WEBCAST: Tax Accounting Methods, 7am-3pm WEB372 235 265 Webcast A&A

Jan 18 8.0 WEBCAST: Accounting and Auditing Update, 8:30am-4:30pm WEB115 255 295 Webcast A&A

Jan 18 8.0 WEBCAST: Physician Finances, 8:30am-4pm WEB114 255 295 Webcast SK

ç Jan 18 2.0 WEBiNAR: Excel - Advanced Tips, Tricks & Techniques, 10am-12pm WNR294 79 94 Webinar SK

ç Jan 18 2.0 WEBiNAR: 2011 Federal Tax Update for individuals: income items, 8-10am WNR295 79 94 Webinar Tax

Jan 19-20 16.0 WEBCAST: Advanced Estate Planning institute, 8:30am-5:45pm WEB116 510 590 Webcast PFP

Jan 19 2.0 WEBiNAR: Excel Pivot Tables - Beyond the Basics, 8-10am WNR296 79 94 Webinar SK

Jan 19 2.0 WEBiNAR: Workflow: Tips for Automating Business Processes, 11am-1pm WNR297 79 94 Webinar Tec


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type




ç Jan 20 8.0 WEBCAST: implementing the Right Business Tec - Where to Best Spend your Money, 7am-3pm

WEB387 235 265 Webcast Tec

Jan 20 2.0 WEBiNAR: how is Mobile Computing Changing Business Practices Today? 10am-12pm


ç Jan 20 2.0 WEBiNAR: 2011 Federal Tax Update for Business Entities, 8-10am WNR299 79 94 Webinar Tax

ç Jan 23 3.0 WEBCAST: Research and Development Tax Credits: Do you Know the Tax Savings These Create? 8-11am


Jan 23 8.0 WEBCAST: Subtrust Funding Workshop, 8:30am-4:30pm WEB117 255 295 Webcast SK

ç Jan 23 2.0 WEBiNAR: Solving Small Business Accounting issues with Peachtree, 11am-1pm WNR300 79 94 Webinar SK

Jan 23 2.0 WEBiNAR: Tables: Excel’s 2nd Best Feature, 8-10am WNR301 79 94 Webinar SK

ç Jan 24 8.0 WEBCAST: 2011 Annual Tax Update, 7am-3pm WEB385 235 265 Webcast Tax

Jan 24 8.0 WEBCAST: S Corporations Workshop, 8:30am-4:30pm WEB118 255 295 Webcast Tax

Jan 24 2.0 WEBiNAR: Adobe Acrobat for Accountants i - Basic Features & Functions, 8-10am WNR302 79 94 Webinar Tec

Jan 24 2.0 WEBiNAR: Adobe Acrobat for Accountants ii - Advanced Features & Functions, 11am-1pm


Jan 25 8.0 WEBCAST: Fundamentals of Partnership Taxation, 8:30am-4:30pm WEB119 255 295 Webcast Tax

Jan 25 8.0 WEBCAST: Federal Tax Update-individuals (Form 1040), 8:30am-4:30pm WEB120 255 295 Webcast Tax

Jan 25 2.0 WEBiNAR: Adobe Acrobat for Accountants iii - Tips & Techniques for the Experi-enced User, 8-10am


Jan 25 2.0 WEBiNAR: Adobe Acrobat Forms, 11am-1pm WNR305 79 94 Webinar Tec

Jan 26 8.0 WEBCAST: Federal Tax Update-C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065) Webcast, 8:30am-4:30pm


Jan 26 2.0 WEBiNAR: Key Tax issues Facing Members in industry, 10am-12pm WNR306 79 94 Webinar Tax

ç Jan 26 2.0 WEBiNAR: Excel as a Fraud Detection Tool, 8-10am WNR307 79 94 Webinar Tec

Jan 27 8.0 WEBCAST: health Care Conference, 8:30am-4:30pm WEB122 255 295 Webcast SK

ç Jan 27 2.0 WEBiNAR: PowerPoint Level 1 - Creating Professional Presentations, 8-10am WNR308 79 94 Webinar Tec

ç Jan 27 2.0 WEBiNAR: PowerPoint Level 2 - Advanced Presentation Design, 11am-1pm WNR309 79 94 Webinar Tec

Jan 30 2.0 WEBiNAR: Excel - Formulas and Functions, 11am-1pm WNR310 79 94 Webinar Tec

Jan 30 2.0 WEBiNAR: Excel - The Power of Pivot Tables, 8-10am WNR311 79 94 Webinar Tec

ç Jan 31 8.0 WEBCAST: Other Comprehensive Basis of Accounting Fundamentals, 8:30am-4:30pm


Feb 2 8.0 y WEBCAST: Basic Concepts of Governmental Accounting, Financial Reporting Auditing, 8:30am-4pm

WEB124 255 295 Webcast GNP

Feb 3 8.0 WEBCAST: introduction to xBRL and New Opportunities for CPAs, 8:30am-4:30pm


Feb 6 2.0 WEBCAST: SSAE 16 The New Standard for Service Organization Reporting, 9-11am


Feb 7 8.0 WEBCAST: Reporting Under iFRS-- Nonfinancial Assets, 8:30am-4:30pm WEB126 255 295 Webcast A&A

ç Feb 7 8.0 WEBCAST: Avoiding Problems in Conducting Single Audits, 8:30am-4:30pm WEB127 255 295 Webcast A&A

ç Feb 8 8.0 WEBCAST: Revenue Recognition: Getting the New Standard Right, 8:30am-4:30pm WEB128 255 295 Webcast A&A

Feb 9 8.0 WEBCAST: iFRS and Business Combinations and Consolidations, 8:30am-4:30pm WEB130 255 295 Webcast A&A

ç Feb 9 8.0 WEBCAST: Controls, Risks and Financial Reporting, 8:30am-4:30pm WEB129 255 295 Webcast A&A

ç Feb 10 8.0 WEBCAST: Business Models and Open innovation, 8:30am-4:30pm WEB131 255 295 Webcast MG

Feb 14 8.0 WEBCAST: Tax issues for Auditors & industry Professionals, 8:30am-4:30pm WEB132 255 295 Webcast Tax

ç Feb 15 8.0 WEBCAST: Accounting for Leases: Revolutionary Changes to the Previous FAS 13, 8:30am-4:30pm


ç Feb 16 2.0 WEBCAST: Reformatted Financial Statements, 7-9am WEB375 79 109 Webcast A&A

Feb 16 8.0 WEBCAST: Accounting and Auditing Update, 8:30am-4:30pm WEB134 255 295 Webcast A&A

ç Feb 17 8.0 WEBCAST: Financial Reporting for Private Companies and SMEs: The Approaching Perfect Storm, 8:30am-4:30pm


ç Feb 20 3.0 WEBCAST: Research and Development Tax Credits: Do you Know the Tax Savings These Create? 8-11am


Feb 22 8.0 y WEBCAST: Cost Principles for State and Local Governments and Nonprofits Organizations, 8:30am-4:30pm

WEB136 255 295 Webcast GNP


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type




ç Feb 24 8.0 WEBCAST: internal Controls for Business - To Prevent Fraud and Loss, 7am-3pm WEB379 235 265 Webcast MG

Feb 24 8.0 WEBCAST: Similarities and Differences Between U.S. GAAP and iFRS, 8:30am-4:30pm


ç Feb 27 8.0 WEBCAST: implementing the Right Business Tec - Where to Best Spend your Money, 7am-3pm


Mar 5 2.0 WEBCAST: SSAE 16 The New Standard for Service Organization Reporting, 9-11am


Mar 9 8.0 WEBCAST: Convergence 2011- Reformatted Financial Statements: The Changing! 8:30am-4:30pm


Mar 12 3.0 WEBCAST: Accounts Receivable Management - “Part 1 of 6 of the Technical Con-trollers Series,” 8-11am


ç Mar 12 2.0 WEBCAST: Managing the Accounting Function So you Become invaluable “Part 2 of 6 in the Technical Controller Series,” 11:30am-1:30pm


Mar 12 3.0 WEBCAST: Getting Stuff Done When you Don’t Own the Company - “Part 3 of 6 in the Technical Controllers Series,” 2-5pm


ç Mar 13 3.0 WEBCAST: it’s ALL in the Process! how to Generate Productivity and Break-through improvements “Part 4 of 6 in the Technical Controller Series,” 8-11am


ç Mar 13 2.0 WEBCAST: Setting the RiGhT Tone! A Finance Leader’s Best Tool for Employee Engagement “Part 5 of 6 in the Technical Controllers Series,” 11:30am-1:30pm


Mar 13 3.0 WEBCAST: Money Talks! Presenting Financial Concepts with Ease “Part 6 of 6 in the Technical Controllers Series,” 2-5pm


Mar 14 8.0 WEBCAST: Fraud: Exposures and Solutions in the Nonaudit Environment, 8:30am-4:30pm


Mar 15 8.0 WEBCAST: Accounting and Auditing Update, 8:30am-4:30pm WEB140 255 295 Webcast A&A

Mar 16 8.0 WEBCAST: internal Control: your Number One Defense Against Errors and Fraud, 8:30am-4:30pm


ç Mar 19 8.0 WEBCAST Revised Auditing Standards, 8:30am-4:30pm WEB142 255 295 Webcast A&A

Mar 21 3.0 WEBCAST: Accounting’s Perfect Storm: Coming Changes That Will impact the Entire Profession, 10am-1pm


Mar 22 8.0 WEBCAST: Key Ratio Analysis, 8:30am-4pm WEB143 255 295 Webcast A&A

Mar 23 8.0 WEBCAST: FASB Update, 8:30am-4:30pm WEB145 255 295 Webcast A&A

ç Mar 23 8.0 WEBCAST: Financial Statement Analysis for Managers: Driving Company Driving Company Performance, 8:30am-4:30pm


ç Mar 26 8.0 WEBCAST: internal Controls for Business - To Prevent Fraud and Loss, 7am-3pm WEB380 235 265 Webcast MG

Apr 9 2.0 WEBCAST: SSAE 16 The New Standard for Service Organization Reporting, 9-11am


Apr 11 3.0 WEBCAST: Accounts Receivable Management - “Part 1 of 6 of the Technical Con-trollers Series,” 8-11am


ç Apr 11 2.0 WEBCAST: Managing the Accounting Function So you Become invaluable “Part 2 of 6 in the Technical Controller Series,” 11:30am-1:30pm


Apr 11 3.0 WEBCAST: Getting Stuff Done When you Don’t Own the Company - “Part 3 of 6 in the Technical Controllers Series,” 2-5pm


ç Apr 12 3.0 WEBCAST: it’s ALL in the Process! how to Generate Productivity and Break-through improvements “Part 4 of 6 in the Technical Controller Series,” 8-11am


ç Apr 12 2.0 WEBCAST: Setting the RiGhT Tone! A Finance Leader’s Best Tool for Employee Engagement “Part 5 of 6 in the Technical Controllers Series,” 11:30am-1:30pm


Apr 12 3.0 WEBCAST: Money Talks! Presenting Financial Concepts with Ease “Part 6 of 6 in the Technical Controllers Series,” 2-5pm


Apr 20 8.0 WEBCAST: FASB Update, 8:30am-4:30pm WEB146 255 295 Webcast A&A

Apr 25 4.0 E WEBCAST: Washington CPA Ethics and New Developments (A WA Requirement), 8-11:30am

WEB328 159 189 Webcast Ethics

ç Apr 27 8.0 WEBCAST: Forensic Accounting, 8:30am-4:30pm WEB147 255 295 Webcast A&A

Need help finding a seminar, conference or webcast? Call the WSCPA at (800) 272-8273 or (425) 644-4800. To view the complete schedule of events, go to www.wscpa.org/CPE/catalog.

The same high quality materials and speakers featured in many WSCPA conferences and seminars are available for CPE events for your firm. To learn more about WSCPA in-house Training, call (800) 272-8273 or (425) 644-4800 or e-mail [email protected].


Register at www.wscpa.org/CPE/catalog REGiSTRATiON

Code Title Date City Fee1

3

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

Register online at www.wscpa.org/CPE/catalog or:

Questions? E-mail [email protected] or call (425) 644-4800 or (800) 272-8273 (toll-free in Washington).

2

2


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 (January 25 for the March/April issue). Positions available ads are for magazine placement only. To post a job listing, visit the Career Center at www.wscpa.org. Contact Sharon Olene-Marander at (425) 586-1138, (800) 272-8273, Ext. 1138, or [email protected] for more information. All ads must be pre-paid. Find classified ads at www.wscpa.org under Newsroom.

POSITIONS AvAILABLEEstablished Bellingham CPA firm is seeking experienced auditor to join our team of professionals. 5+ years of audit experience required. Collaborative working environment, excellent advancement oppor-tunities and salary and benefits package. Submit resume and cover letter to varner Sytsma & herndon, CPA’s, 2200 Rimland Drive, Suite 205, Bellingham, WA 98226, Attn: H/R

Established Bellingham CPA firm is seeking experienced CPA to join our team of professionals. 3+ years of tax experience required. Collaborative working environment, excellent advancement opportunities and salary and benefits package. Submit resume and cover letter to varner Sytsma & herndon, CPA’s, 2200 Rimland Drive, Suite 205, Bellingham, WA 98226, Attn: h/R

OFFICE SPACEPrivateofficespace in professional suite located in Bellevue. 143 SqFt unfurnished. Suite includes recep-tion area, access to conference rooms, internet, copier, utilities, and kitchenette. There are three CPA’s sharing the suite current. Easy access to i-405 near i-90. Contact Ann (425) 451-7719 or [email protected].

ShareKirklandOfficeSpacewithtwosuccess-ful CPAs. 140+ sqft private office plus reception area and kitchen. Close to i-405 entrance; walking distance to waterfront, restaurants and shops. Call John (425) 827-3031 or Jim (425) 822-6022.

Fast growing East vancouver location. Class A Office Space available for CPA practitioner & staff. Built in 2008 Full service. Successful Financial Advisory Practice located in space. Contact Dan Foster at (360) 883-2623 ext. 101 or [email protected].

BellevueOffices.Av Bus/EP law firm has offices for small firm or solo practitioners. Great for startup! Relaxed park-like setting near DT Bellevue. Reception-ist, copier/scanner/shredding, conf/seminar rooms, tax library, kitchen, shower + FREE PARKiNG for tenants/clients, and with easy in & out + freeway access (i-405, i-90 & 520). Details & photos at www.bellevueprofes-sionaloffices.com. Call Mike, George or Dave at (425) 453-4455.

OfficeSharewithSoloAttorney.Newly remod-eled office in Federal Way business district near Celebration Park. Conference room, reception/secretary station, parking, fax, copier, internet, kitchen and utilities. Contact Eileen at [email protected] or call (206) 399-2046.

ShareofficespaceinKirklandwithtwoCPAs.140 square foot private office. Office includes recep-tion area, conference room and kitchen. Office building

includes other business professionals and offers free parking. Five blocks from downtown restaurants and shops. Easy access to and from i-405. Call Ray (206) 595-9697 or Dave (425) 827-5620.

PRODUCTS AND SERvICESHave any restaurant clients who need hands-on help? 25 year CPA and former restaurant owner works complementary to you, consulting for operational and systems efficiency, profit improvement, POS assess-ment/implementation or exit strategy/restaurant sale. Certified QuickBooks ProAdvisor. Project based or hourly. Jean Klein, (206) 795-4443. www.smallrestau-rantspecialist.com.

MERGERS & SALESRetired CPA calls it quits again. Only 37K gross - but excellent client base. individual and business tax returns. Lynnwood – Edmonds area. Can help transition. Contact: [email protected].

BellevueCPAfirmforsale.Our firm has diverse client base. Our revenue is generated from audits, reviews, write ups, consulting, QuickBooks training and tax returns. The potential buyer will retain our office. We are flexible and will train the new owner. Our firm is the best fit for an individual who is ready to take charge of a highly profitable business. Contact Ela at [email protected].

CPA looking for $150,000-$250,000 size practice to purchase in the Bellingham area. Cash purchase. Please respond to Tom by phone, (707) 545-0701 or email, [email protected].

Everett/Bellevue Firm Looking for King and Sno-homish County CPA firm and/or Registered investment Advisory Company to purchase. We are the second largest CPA firm in downtown Everett, manage $135m and are looking to purchase another firm. Our client base is as broad as the services we offer, as we cater to individuals and small business. Please contact the owner, Brian Evans at (425) 252-6909 or email to [email protected]. you can review our websites at www.bauerevans.com and www.bondstreetwealth.com.

Considering Selling Your Practice? Consider all your options. We do the work. Confidential. We have buyers actively seeking practices. Call Mark hause at 877-345-7722 or visit our website at www.account-ingpracticesales.com. Accounting Practice Sales. We make dreams happen!

IBA Sells Privately Held Companies. Do you represent a client who is ready to retire or has taken a company as far as they want to or can? iBA is the Pacific Northwest’s oldest business brokerage (M&A) firm. We are professional negotiators with over 4000 completed transactions. Please contact us if we can be of assistance at (800) 218-4422 or www.ibainc.com.

PRACTICES FOR SALE

Contact Mark Hause at Accounting Practice Sales by e-mail at [email protected] or call 877-345-7722 for more information on the following practices:

Bellingham CPA Firm for Sale: This CPA firm is a tax and write-up practice that focuses on small business. As a result, the firm predominantly renders tax and write-up services for a loyal group of clients who are accustomed to paying market rate fees along with being a strong referral source. The revenue dollars grossed by the firm break out 65% income tax and 33% write-up services and 2% for a small amount of compilation and review services. The client work load is continuous through the year with the normal increase in tax filing periods provid-ing for a balanced workload and revenue stream. This practice has an excellent staff which further enhances the opportunity this firm provides for an accountant or firm looking for a quality practice to make their own.

Spokane CPA Firm for Sale: This well rounded CPA firm renders professional services in the areas of write-up, income tax, compilation(s), review(s), and auditing. The firm has long term relationships with most of the clients while continuing to accept new business which fuels the continuing growth of the practice. The practice has a variety of clients in all industries but does serve a number of non-profit entities in a variety of capacities. The owner seeks to retire but would be available for transition to the new owner through tax season. This practice is primed for a new owner and continued prosperity.

vOLUNTEER POSITIONSThe following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters. Learn more at www.wscpa.org (enter volunteer positions in the search box).

Citizens for Off-Leash AreasCommunities in Schools of Puyallup - NewCongress for the New Urbanism-CascadiaEaster Seals WashingtonEastside Audubon Society - NewEducation Across Border - NewEmergency Feeding ProgramFriends of Gordon CarterGlobal BreakthroughHearing Speech and Deafness Center (HSDC)Helping LinkHuntington’s Disease Society of America - NW Chapter - NewMetro Parks Tacoma - NewMusic Works Northwest - NewNorthEast Seattle Together - NewNortheast Washington Education CouncilRelief and Education for Afghan ChildrenThe Swedish Finn Historical SocietyTransitional ResourcesVision Loss ConnectionsWashington Poison Center - NewyMCA of Snohomish County

SOLD

WsCpa Career Center

www.wscpa.org

Job Listings & Career Resources


MEMBER PROFiLE

Aaron and Jen Dawson, both CPAs, met while studying accounting at

Western Washington University. After working for several years at large Seat-tle area CPA firms, the couple moved to Longview and became second generation owners of a 30 year old accounting firm in 2009.

With offices in two Southwestern Washington locations, vancouver and Longview, Opsahl, Dawson & Company, P.S., has 22 employees and is vancouver’s largest CPA firm, according to the Vancou-ver Business Journal.

Born and raised in Longview, Aaron is President and head of the tax department at the firm. Aaron chose to follow his father into the accounting pro-fession. Robert Dawson, Jr. has been a sole practitioner for more than 30 years in vancouver.

“We share ideas often. he has been a great mentor,” said Aaron, who has expe-rience in manufacturing, real estate, and construction industries, and specializes in entity selection, and high net worth indi-vidual taxation.

Jen, who was raised on Whidbey island in Oak Harbor, is shareholder and Vice President, as well as head of the firm’s financial statement and human resources departments. Jen’s interest in accounting began while she was in high school.

“i’ve always enjoyed working with num-bers and had a great accounting teacher in high school,” said Jen. “Once i decided that i was going to major in accounting, it was a no-brainer that i was going to become a CPA. i get great satisfaction working closely with clients and helping them with their business and achieving their goals.”

Jen’s industry expertise includes hos-pitality, construction, real estate, manufac-turing, and retail.

The couple’s journey to purchasing their own practice began with a simple phone call from George Opsahl, Aaron’s longtime family friend.

“George called me and suggested we explore the idea of transitioning his firm to Jen and me,” recalls Aaron. “it was as if my dad were saying he wanted to teach me to drive his Ferrari so i could own it. it was the most important phone call of my career.

“The transition of ownership from George Opsahl and Terry Shepp was very positive. They were both very open to new ideas that we brought to the firm. After implementation, our new ideas allowed the firm to become more effi-cient than ever before.”

“Our transition was 100% successful; we did not lose any clients as a result of the ownership transition,” said Aaron. “George and Terry’s strategic transition efforts helped to instill confidence with our existing clients through positive introductions, carefully planned client communications, and double checks on new tax planning ideas. George is still involved in the business, but Terry retired in mid 2010.”

Aaron and Jen offer the following advice to other CPAs preparing for firm ownership transitions:

“The exiting shareholder should be as open as possible to the new share-holder ideas, provide some feedback, but ultimately allow the transition to take place. Once the clients start to call the new shareholder, the exiting shareholder should resist taking a front row seat as it will confuse the client as to who is actually in charge and the lead advisor. A back seat role can be a good way for the exiting shareholder to still be involved and continue to allow the transition to take place. it takes a lot of trust to turn over your firm and client relationships, but remember, the candidate you chose to transition your firm to is highly quali-fied, that is why you have chosen them in the first place. Allow the transition to take place.”

“Lots of communication between the owners is very important also.

Set expectations up front so there is nothing unsaid,” said Aaron.

Working for the same firm as a married couple was another transition for the Dawsons.

“Separating duties is a good way to keep the teamwork healthy,” said Aaron. “We also are good at not bringing work home. i am more of a risk taker and am rapidly moving the firm forward with new technology. These changes always put a stress on the firm, but are necessary to succeed. Jen is more conservative and a good double check for me. We comple-ment each other very well.”

During her free time, Jen plays sports, travels, hikes, and reads. Outside of work, Aaron can be found outdoors, hunting, fishing, or river rafting. The Dawsons enjoy spending time with their 17-month old daughter, Jade, and will welcome twins into their family on Tax Day 2012.

“We love the challenges of running our own firm and the opportunity to move to Longview,” said Aaron. “The scenery is beautiful, people are great, and life is just the right pace!”

Firm transitions, new Opportunities Aaron and Jen Dawson

Opsahl, Dawson & Company, P.S.

Periodicals postage paid at Bellevue WA and additional mailing offices

Your Profession. Your Future. Your Advocate.

Follow WSCPA www.wscpa.org

Advocacy doesn’t cost. it pays.

Contribute to the CPAPAC today!www.wscpa.org

(click Advocacy)

here.

Decisions that affect your profession are made

During the recent political campaign season, WSCPA members delivered nearly 50 CPAPAC checks to legislative candidates.

Their discussions about key issues increased the profession’s visibility and enhanced legislators’ understanding of the critical role CPAs play in preserving the state’s business climate.

The CPA profession in Washington has a strong political voice and presence in Olympia, thanks to CPAPAC and your contribution!

The WashingtonCPA Jan/Feb2012

Documents

Transcript of The WashingtonCPA Jan/Feb2012