April 2015 - NESCPA.org

April 2015
Official Publication of the Nebraska Society of CPAs
By Dan Vodvarka
Society President
LB159, legislation that enables the
Nebraska Board of Public Accountancy
(State Board) to make adjustments to its
Quality Enhancement Program (QEP),
has passed the 2015 Nebraska Legislature and was signed into law on February 26, 2015.
Endorsed by the Society’s Board of
Directors, LB159, was one of the first
2015 bills to be considered by the Banking Committee. LB159 enables the
State Board to phase-out its Quality
Enhancement Program but still mandates that licensed CPA firms in Nebraska that perform, either or both, attest engagements and issue compilations, must complete a State Board ap-
proved peer review every three years.
LB159 had a public hearing before
the Banking, Commerce and Insurance
Committee of the Legislature in the
State Capitol on January 26, 2015. The
bill was introduced by Speaker and
Kearney Senator Galen Hadley. Society
member and former State Board member Anne Fuhrman of Omaha testified
on behalf of the State Board in support
of LB159. Also speaking in support of
the bill was Society President Dan
Vodvarka and Dan Sweetwood, Executive Director of the State Board. Later
that day, the Banking Committee met in
Executive Session and forwarded the
bill, 8-0, to General File.
Continued on Page 2
First Nebraska
CPA . . . Long-time
Society member Bob
Berger of Omaha and
Society Executive Vice
President Trudy Meyer
display Bob’s greatgrandfather’s CPA certificate – the first in Nebraska!
Berger’s greatgrandfather
J.
M.
Gilchrist was the first
person to hold a CPA
certificate in Nebraska
and it is dated 1909 from
the Nebraska Board of
Examiners. One of Berger’s grandfather’s Elton
C. Loucks also held a Nebraska CPA certificate as did his uncle John S. Loucks.
(See page 2 of the enclosed CPE Catalog and Resource Guide for a history of the
Society) Berger was in the Society’s office on January 26, 2015, after he testified
before the Nebraska Legislature’s Banking, Commerce and Insurance Committee in
support of LB279 (see Legislature story above).
Your edition of the 2015 Nebraska
Society’s CPE Catalog and Resource
Guide is enclosed with this newsletter.
This is the Tenth Edition of the Society’s popular annual publication that is
distributed every April prior to the beginning of the Society’s annual schedule of continuing professional education (CPE) courses that will be held
statewide.
“We are again proud to publish the
new Catalog/Guide and make it available to the membership and others interested in the Society’s many programs
and services. Most of the credit for the
2015 Catalog/Guide goes to Society
Executive Vice President Trudy Meyer
whose planning, scheduling and organizational skills, along with help from
Society staff members Lori Vodicka
and Malia Saale, has resulted in a high
quality membership publication. We
welcome any and all of your comments
about this popular Society publication,”
Dan Vodvarka, Society President, said.
Continued on Page 11
QEP LEGISLATION . . .
From Page 1
LB 159 has considered on General
File and advanced, 33-0, to Select File
on February 2, 2015. The bill moved
by voice vote from Select File to Final
Reading on February 17. It passed
the Legislature on Final Reading, 490, on February 20 and was soon
signed into law by Nebraska Governor Pete Ricketts.
Also having a public hearing before
the Banking Committee on January 26
was LB279, legislation enabling the
reinstatement of certain business entities
in Nebraska that have been administratively dissolved. The Society’s Board of
Directors supported the concepts in
LB279. Testifying on behalf of the Society and in support of the bill was Society member and Omaha CPA Bob Berger. The bill was also supported by the
Nebraska Bar Association and advanced
out of Committee, 8-0, to General File.
The bill was introduced by Columbus
Senator Paul Schumacher.
LB279 moved from General File to
Select File also on February 2, 36-0, and
moved to Final Reading on March 3,
2
2015, on a voice vote. On March 12, the
Legislature passed the bill, 43-0, on
Final Reading. Because LB279 contained an Emergency Clause and received 33 or more affirmatives votes
on Final Reading, it became law 24
hours after being signed by Governor
Ricketts. The bill was signed by the
Governor on March 19?, 2015.
LB621 Opposed
The Society’s Executive Committee
also voted to oppose LB621 as introduced by O’Neill Senator Tyson Larson.
The bill would change the qualification
of the Deputy Director of the Auditor of
Public Accounts (State Auditor) to not
having to be a Certified Public Accountant. The Society sent a letter to the
Government, Military and Veterans Affairs Committee expressing opposition
to LB621. The bill advanced from
Committee, 5-3, to General File on February 24.
The Society staff is also monitoring
the progress of a number of tax, economic development and labor relations
bills of interest to Nebraska CPAs including LB357, introduced by Papillion
Senator Jim Smith, which would gradually reduce the state’s personal income
tax rates over the next eight years.
However, that bill has not been advanced from the Revenue Committee as
of Mid-March.
Full-day floor debate began on
March 23 as Committee hearings were
completed for the year. By rule, budget bills must be on General File by
April 28.
Hadley Elected Speaker
The 2015 Session convened on January 7 with the election of officers and
committee chairmen. Society member
Senator Galen Hadley of Kearney was
elected Speaker of the Legislature on a
30-19 vote. Senator Hadley is the only
Society member ever elected to the Legislature and is now the only Society
member also elected as Speaker. He
will serve a two-year term.
The 2015 session of the 104th Nebraska Legislature is a 90-working day
session with the Sine Die adjournment
scheduled for the first week of June.
During the opening 10 days of the session, 653 legislative bills were introduced along with dozens of resolutions
and constitutional amendments. That is
a usual number of new bills introduced
during a 90-day session.
By: Will Fleenor, CPA, Ph.D.,
Member, K2 Enterprises
76% of reported breaches are from
weak credentials according to a Verizon
2013 Data Breach Investigations Report
that analyzed more than 47,000 security
incidents. Weak passwords account for
48% of the breaches. It is clear from this
report and other similar reports that mismanagement of authentication credentials
is the primary culprit when it comes to
data breaches.
Substantial evidence exists proving
that weak passwords and poor password
management practices are the rule rather
than the exception. A well-known hacker
group called Anonymous made public
passwords and usernames for 44,000 subscribers of a company known as Strafor
(Strategic Forecasting, Inc.). Subscribers
are mostly international business travelers
and government officials (ex. Henry Kissinger, Dan Quayle, the Defense Department, Lockheed Martin, and Bank of
America). One might think that these
business and government officials would
use better passwords than most users – not
true. 74% percent of the revealed passwords were weak and 10% were less than
5 characters long.
The use of weak passwords and poor
password management practices is not
from lack of good guidance. Microsoft,
SANS (largest source for information security training and security certification in
the world), the Privacy Rights Clearinghouse, and many others provide guidance
on what good passwords should look like.
According to these authoritative sources,
passwords used to access sensitive information should:
 Contain both upper and lower case characters
 Have digits, letters, and punctuation
characters
 Be at least fifteen alphanumeric characters long
 Not be a word in any language, slang,
jargon, etc.
 Not be based on personal information,
names, etc.
 Never be written down
 Changed regularly
 Never be recycled or used for multiple
assets
For most users, the first question that
comes to mind is “Who could possibly
follow these rules?” The answer is,
probably nobody without the help of password management software. People just
cannot remember strong passwords.
Password Management Software
Most password managers are easy to
use, inexpensive, and require very little
user training. Typically, they accumulate
your passwords as you type them in during
your regular login processes. Then when
you go to log in again, they fill in the password and username automatically without
you having to type anything.
Most password managers integrate
with your Web browser. You log into a
Web site or software application by select-
ing the site from a drop down menu located on your Web browser toolbar. To prevent others who might have access to your
computer (with or without your permission) from accessing your passwords, the
password database files are heavily encrypted. A “master password” is required
to unlock this database. If your computer
is left unattended (or it is lost or stolen),
the database locks automatically after a set
period of time or when the computer is
powered off.
Password managers allow users to
Continued on Page 4
Martin Enters Hall of Fame . . . Society member JoAnn Martin of
Lincoln was one of four Nebraska business leaders that were inducted into the
Nebraska Business Hall of Fame on February, 5, 2015. The four were inducted
during the Nebraska Chamber of Commerce and Industry’s 2015 Annual Meeting
held in Lincoln at The Cornhusker. Martin is the Chairman, President and CEO
of Ameritas Life Insurance Corp and President and CEO of Ameritas Mutual
Holding Co. of Lincoln and is the first Society member inducted into the Hall of
Fame. A Society member since 1978, Martin joined the Lincoln-based insurance
company as an audit department manager in 1984. She has also received the Society’s Public Service and Outstanding CPA in Business and Industry awards.
Above, Martin (center), on February 5, is welcomed into the Hall of Fame by
Nebraska Governor Pete Ricketts and State Chamber Chairman of the Board
Kimberly Russel of Lincoln. Photo By State Chamber
3
MANAGING PASSWORDS . . .
From Page 3
generate passwords that follow best practices such as using long randomly generated passwords for highly sensitive assets.
Password generators are part of all the
better products. Since password managers enter usernames and passwords automatically, it is just as easy to use a 16
character long random password for your
bank login as it is to use a weak password.
With most password managers, you
have the option of backing up your passwords in the Cloud as a heavily encrypted
file. With some products, you have the
option of choosing where to back up the
password database. You and you alone
have the key to unencrypt this file. If
someone hacks the backup site, your passwords are still safe because only you have
the key to unencrypt the file. If your local
machine hard drive fails and this is where
the password database file is stored, your
passwords are not lost. Even better, the
software automatically synchronizes your
password database between multiple devices such as desktops, laptops, tablets,
and even phones. Having all your passwords available at all times is a real asset
to most business users.
These features both improve security
and save time. If you log in to five or
more Web sites or software packages a
day, you can save over 20 hours per year
using a password manager.
Password Solutions
The password management software
market has become competitive with lots
of good choices. The products mentioned
below have proven track records and are
always highly rated in product reviews.
There are other good choices and many of
the top products have similar features.
RoboForm Everywhere, LastPass
Premium, Dashlane, Keepass, Password
Depot, and 1Password are well established
products with proven track records. Further, they always rank at, or near, the top
of product reviews.
RoboForm Everywhere is my personal favorite. Following are some of the
features that make it a product to consider:
 Automatically remembers your passwords and enters them securely without
using the keyboard (avoiding key loggers) or the clipboard
 Encrypts your data with military-grade
AES 256 bit encryption
 Fills in forms as well as passwords
 Supports multiple browsers (IE, Fire-
fox, Chrome on Windows and Macs,
and Safari)
 Available for Windows, Mac, Linux,
iPhone/iPod, Android, Blackberry,
Windows Phone, Palm, and Symbian
 Synchronizes
passwords
securely
across all your devices so you always
have them with you and up-to-date
 Automatically backs up your password
database securely in the Cloud and only
you have the key to this encrypted
backup file
 Comes in a desktop only version if you
are not comfortable with the Cloud
 Generates strong passwords
 24/7/365 live chat or phone support
 Has “Secure SafeNotes” for storing
confidential information like social
security numbers, credit card information, and software activation codes
 Has a series of short online training
videos that make the product easy to
learn and use
 Roboform2Go can be installed on a
USB drive and used securely with any
computer.
1Password is a particularly good
product for Mac users. It was designed
for the Mac rather than being a Windows
product that was ported to the Mac.
Nebraska CPA is published ten times annually for
members of the Nebraska Society of CPAs. Publication
is monthly, with the exception of two combined issues:
February/March and December/January. Copy deadline is the tenth of the month prior to publication.
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Nebraska Society of CPAs
635 South 14th Street, Suite 330
Lincoln, Nebraska 68508
(402) 476-8482 or (800) 642-6178
Fax (402) 476-8731
Email [email protected]
www.nescpa.org
OFFICERS
Anthony J. Pruss, III, Chairman
Patrick G. Kirlin, Chairman-Elect
Shari A. Munro, Secretary
Michelle R. Thornburg, Treasurer
Daniel L. Wells, Immediate Past Chairman
DIRECTORS
Vaughn L. Benson
Sheila A. Brugger
Douglas J. Lacey
Ryan L. Parker
John W. Sehi
John B. Fruhwirth
Elected Member of AICPA Council
Richard D. Gifford
West Nebraska Chapter President
STAFF
Dan Vodvarka, President
Trudy J. Meyer, Executive Vice President
NEBRASKA SOCIETY MEMBERS... THANK YOU!!!
The Society’s Board of Directors has approved a $15 CPE discount coupon for each Society member
to use towards Society-sponsored CPE courses or conferences during the 2015 CPE year.
Only one coupon per member per year can be used. It’s EASY to use!
Please just attach the coupon to your CPE/Conference registration and deduct $15 from your payment.
$15 Coupon
$15 Coupon
Nebraska Society of CPAs
2015 CPE/Conference Discount Coupon
Expires December 31, 2015
Offer valid only for Nebraska Society of CPAs’ members towards Society-sponsored
CPE courses or conferences.
Member’s Name __________________________________________________Course & Date ___________________
Only ONE coupon per SOCIETY MEMBER per CPE year.
$15 Coupon
Send Coupon with CPE or Conference Registration Form.
By: Jon Hubbard
Boomer Consulting, Inc.
Every firm understands the importance of client service. However,
most firms struggle with establishing
a consistent level of client service
among all levels of the firm. Why is
this? I have asked many Managing
Partners this question and the most
common answer I hear is that the
firm lacks a culture of providing
great client service. I then follow up
with another question, “how would
you describe a firm that has a culture
of client service?” Most answers are
similar to:
 Everyone in the firm understands
what great client service is
 Everyone in the firm talks about
client service
 Everyone in the firm understands
the client’s needs and puts the client first.
These answers are correct and I
would suggest that there are many
additional correct answers. I then
ask, “okay, so how do you become
that type of firm?” The most common answer I receive in response to
this question is, “that’s been our
problem, I don’t know.”
I would submit that most firms
struggle with consistently providing
a high-level of client service because
they are focusing on external clients
first and not internal clients. Internal
clients are those within your firm.
Those you work with every day and
have thousands of conversations
with each year. If your internal team
is not providing a high-level of client service to one another, how
could you expect them to consistently provide a high-level of client service to the firm’s external clients?
Only when you first focus on
internal client service will your culture begin to change. Your entire
firm needs to understand the concept
of internal client service. There
needs to be a common language and
understanding of what it means to
$15 Coupon
provide a high-level of client service
to one another.
As part of the Five Star Client
Service program, we walk firms
through the 7 keys to creating a Five
Star Client Service culture. The principles listed below are based on the
same principles Five Star hotels and
restaurants use to achieve highquality service. If your firm focuses
on the 7 areas below, you will begin
to see a cultural shift happen and
your firm’s level of client service
will rise.
#1 – Connecting (Relationships)
“Meaningful relationships are
developed through ongoing communication, which fosters trust, care
and confidence. Proactive connecting builds relationships.”
Building a strong internal team
within your firm requires you to
build strong working relationships
through open and honest communiContinued on Page 8
5
By Barry Melancon, CPA, CGMA –
AICPA President & CEO
Whenever I think about all that is
going on within our profession, I’m
amazed at the breadth and scope of accomplishments and inspired by the people
who make it all happen. From envisioning the future of learning to reinforcing a
foundation of quality, we’ve never had a
better opportunity to shape our future.
The accounting profession achieved great
success in 2014, thanks to several factors:
hard work and quality services from
CPAs, extensive advocacy efforts, forward-thinking initiatives and the joint
efforts of the AICPA and the state CPA
societies.
Looking to 2015, I’m excited about
the AICPA’s agenda and the steps our
profession will take to continue our
growth as future-focused and client service-driven advisers for modern business.
Quality
For 128 years our profession has
staked its reputation on quality services
delivered by competent and knowledgeable professionals. Quality is our foundation and is essential to supporting future
growth and success. One of the most significant developments in 2014 was the
launch of the AICPA’s Enhancing Audit
Quality (EAQ) initiative, a comprehensive and multifaceted effort designed to
reinvigorate the profession’s commitment
to quality.
The basic EAQ framework was intro-
duced in August in a discussion paper
that solicited stakeholder comments on
proposed short- and long-term quality
initiatives. CPAs and other stakeholders
provided suggestions now being considered by AICPA teams, committees and/or
boards. In a second paper, “Evolving the
CPA Profession’s Peer Review Program
for the Future,” the AICPA offered a
thought-provoking concept for what practice monitoring could become. The initial
concept is meant to start a professionwide dialogue about meaningful change;
changes we hope will help ensure longterm relevance and quality.
Several factors – from the pace of
change to the complexity of business and
standards, from audit relevance to regulators’ scrutiny – made it clear that our profession needed bold action to shape the
audit function of the future.
Advocacy
Each year I’m privileged to see
firsthand the partnership between the
AICPA and state CPA societies as we
address various issues from a legislative
or regulatory perspective. I cannot overstate the importance of these efforts.
When we lead proactive campaigns to
shape legislation, we’re really shaping
our profession’s future. The alternative is
to wait for legislation to shape our future
for us. I’ll share a few examples of what
we achieved in 2014 and set up some of
the issues that could see movement in
2015:
Society Committees to Meet May 28
At Noon At Mahoney State Park
The Society’s annual Mid-Year Committee Meeting Day
has been set for Thursday, May 28, 2015, at Mahoney
State Park, off of Interstate 80 - Exit #426. All committees
except the CPE Committee will meet. This is a “ working
lunch” meeting, which will begin with a lunch buffet at Noon
and conclude at 2 p.m.
All Society members who have previously volunteered
for committee service will also receive an email with the
meeting details and a RSVP request. Members interested
in still joining a committee should contact Lori at the Society
office by phone, mail or email ([email protected]).
The Society’s Board of Directors will also hold a quarterly meeting on the same day at Mahoney State Park.
Cash Basis: The profession successfully fought back an attempt to force
some businesses to switch from the cash
basis to accrual accounting for tax purposes. CPAs’ letters – more than 1,000 –
brought significant attention to this issue
and helped convince 46 Senators and 233
members of the House to sign bipartisan
letters opposing the proposal.
DATA Act: Signed into law in May,
the successful implementation of the DATA Act concludes a five-year effort in
close partnership with the state societies
to improve the accessibility and transparency of business information. It was a
meaningful – and hard-fought – win that
reinforced the importance of stakeholder
collaboration within the profession.
Mobile Workforce: The AICPA continues to support legislation that would
establish a uniform national standard for
any employee who works less than 30
days outside his or her state of residence.
Patent Reform: The profession continues to fight against patent trolls who
bring lawsuits against companies or firms
for patent infringement for mundane daily
uses of technology, such as scanning a
document to email. The House passed a
bill last year, but the Senate failed to act.
We expect this issue will be a priority in
2015.
You can read more about these and
other issues in my recent blog post: How
the New Congress Might Affect the CPA
Profession.
CGMA
This year also will be significant for
members in business and industry because of new developments with the
highly successful Chartered Global Management Accountant (CGMA) designation. Before its third birthday, the CGMA
designation became the largest management accounting designation in the world,
with more than 145,000 CGMAs globally. Through our joint venture and the release of new CGMA components, including the first universal set of global management accounting principles and a
CGMA case study exam, the AICPA and
the Chartered Institute of Management
Accountants (CIMA) have built the foundation of the management accounting
profession.
Human Capital
Of course, the most important part of
Continued on Page 7
6
GREAT PROMISE . . .
From Page 6
our profession’s success is its people, and
attracting and retaining the best and
brightest has never been more important.
A major demographic shift is underway in the United States, putting a rapidly increasing percentage of entrepreneurial capital into the hands of minorityowned businesses. This shift means clients and employers of CPAs will expect
more diverse workforces. We have to
build a business environment that reflects
life. The AICPA and state CPA societies
see diversity and inclusion as a critical
issue for long-term viability and we’re
committed to helping our members meet
the changing expectations of those we
serve. Here’s something else to consider
– at a time when competition for top talent is both global and fierce, the advantage will go to the firms and companies that have a plan to recruit, develop
and retain a diverse workforce. The
AICPA continues to produce resources
that can help CPAs gain that advantage,
including two that were launched last
year: an Accounting Inclusion Maturity
Model that helps organizations evaluate
their own D&I practices, and a recruiting
and retention toolkit with resources to
help accounting leaders and human resources professionals attract, recruit and
retain a diverse workforce. State societies
have been essential partners in national
diversity initiatives: several state volunteers have served on the National Commission for Diversity and Inclusion and
many societies have launched local efforts to improve diversity and inclusion in
their states.
Succession is another critical aspect
of the pipeline. Each of us wants our profession to enjoy long-lasting success, but
that is only possible if we prepare younger generations to fill the shoes of leadership in firms and organizations in the
future. Virtually all states are investing in
our profession’s future and today they
develop future leaders through local leadership academies. Many of these state
academies are modeled after the
AICPA’s Leadership Academy, which
today boasts nearly 200 graduates, many
of whom are currently serving on professional committees, boards or AICPA
Council.
History of Excellence
State society support will be critical
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this year as the AICPA tackles complex
challenges and positions the profession
for long-term success. In past years,
AICPA and state CPA society collaboration has yielded many meaningful initiatives that have changed the accounting
landscape:
 Center for Plain English Accounting:
The AICPA’s national A&A resource
center for Private Companies Practice
Section member firms. The Center’s
resources provide local and regional
firms the knowledge needed to succeed
in today’s complex economic and business climate.
 Financial Reporting Framework for
Small- and Medium-Sized Entities: A
special purpose framework that delivers robust and relevant financial statements in a simplified, cost-beneficial
way when U.S. GAAP financials are
not needed.
Great successes are within our
grasp when we unite in the pursuit
of common goals. Ongoing support
from state CPA societies is both
critical and sincerely appreciated.
We are brought together as a profession and bonded as CPAs.
Membership
Applications
Nebraska Society membership applications
have been received from the following individuals. Objections should be filed with the
Secretary of the Nebraska Society of CPAs:
Shari A. Munro, Frankel Zacharia, LLC,
11404 W Dodge St., Ste. 700, Omaha, NE
68154-2576.
Katie M. Brabec,
IPE 1031 • 1922 INGERSOLL AVENUE • DES MOINES, IOWA 50309
515.279.1111 • 888.226.0400 • FAX 515.279.8788 • [email protected]
WWW.IPE1031.COM
Bland &
Associates, PC; Omaha
Cortney Davis, Contr yman
Associates, PC; Hastings
Lindsey A. Kluver, Dana F.
Cole & Co., LLP; Grand Island
Joseph J. Pritchard, Ber ger
& O’Toole CPAs, LLC;
Omaha
BrenDee R. Reinke, Kr use,
Schumacher, Smejkal & Brockhaus, PC; Columbus
Alison R. Riha, Flor ell &
Barnhard, PC; Lincoln
George T. Siedlecki, Hexagon
Lincoln, Inc.; Lincoln
7
FIVE STAR SERVICE . . .
From Page 5
cation. The best way to start building strong, professional relationships
is to practice the principles 2-7 listed
below.
#2 - Taking the Order
“Expected results are created in
the mind before they are produced.”
Every successful job or project
begins with proper preparation and
communication. Your firm should
work to anticipate each other’s perspectives and needs while asking the
right questions to ensure “the order”
is being taken correctly.
#3 - Delivering the Order
“Perceptions of value for intangible services are created through
emotions.”
Delivering the order focuses on
making sure all parties understand
the service that’s been performed
and the benefits that have resulted.
Consistently delivering the order
well begins to make your firm a
great place to work.
#4 - Ascertaining Satisfaction
“Long-term relationships are
sustained from meeting, and then
exceeding, stated and unstated
needs.”
Ascertaining satisfaction is making sure your team understands how
their efforts are perceived by those
they are serving and if expectations
were met.
#5 - Offering Dessert
“The law of the harvest – you
reap what you sow.”
Offering Dessert is one of the
most fun parts of belonging to a high
-performing, strongly branded firm.
It bonds relationships and enhances
your firm’s culture. The best firms
seek opportunities to offer dessert.
#6 - Collecting the Check
“The perception of value is
highest at the moment of delivery.”
Internal and external clients value services the most at the time of
delivery. Collecting the Check is the
appropriate time to set the stage for
the relationship’s future and build
ongoing satisfaction.
#7 - Recovery
“Long-term trust and respect is
built on taking responsibility for
your actions.”
Recovery is the systematic steps
we take to reestablish a relationship
after we make a mistake or create a
problem.
Creating a Five Star Client Service culture isn’t always easy, but it
can be fun. I’ve had the privilege of
taking firms through the Five Star
Client Service process and it’s always a joy to see all levels of the
firm engaged in becoming “Five
Star.” High-performing team members want to work in a Five Star Client Service culture. If your firm
could improve in the area of client
service, have your internal team
start practicing the 7 keys list
above.
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The Nebraska Society of CPAs’ CPE Calendar
Date Course Conference / Course Title
Type
May
Discussion Leader
www.nescpa.org
Facility & Location
14
Audits of 401(k) Plans: New Developments and Critical
AFPL
Issues for an Effective and Efficient Audit
15
CRAU
18
HSA
19
CPAS CPA Succession Planning - NEW!
TX
21
HCRR Health Care Reform Reality (4-Hour Morning Course)
TX Bradley P. Burnett, J.D., LL.M.
Sandhills Conv. Ctr., North Platte, NE
21
PTCLU
Payroll Tax & Contract Labor Update (4-Hour Afternoon
Course)
TX Bradley P. Burnett, J.D., LL.M.
Sandhills Conv. Ctr., North Platte, NE
22
TPCP
2015 Tax Planning Update for C and S Corporations, Partnerships and LLCs
TX Bradley P. Burnett, J.D., LL.M.
Sandhills Conv. Ctr., North Platte, NE
29
NAFR Nonprofit Accounting & Financial Reporting
AA Paul Koehler, CPA
Holthus Convention Center, York, NE
Compilations and Reviews: Engagement Performance and
Annual Update
AA
Melissa G. Critcher, Surgent
McCoy
Mahoney State Park, Ashland, NE
AA
Melissa G. Critcher, Surgent
McCoy
Mahoney State Park, Ashland, NE
HSAs, HRAs, and FSAs: Health Care Options After AffordaEdward K. Zollars, Nichols
TX
ble Care
Patrick
Mahoney State Park, Ashland, NE
Edward K. Zollars, Nichols
Patrick
Mahoney State Park, Ashland, NE
June
4
Complete Strategies for Maximizing Contributions, RolloCIRA vers, Distributions, and Estate Planning of IRAs, SIMPLEs,
SEPs, and ROTHs
5
TARE
The 25 Most Important Tax Aspects of Real Estate Transactions and Investments
9-10
GAAC
34th Annual Governmental Nebraska Accounting &
Auditing Conference
TX Susan Smith, Surgent McCoy
Mahoney State Park, Ashland, NE
TX Susan Smith, Surgent McCoy
Mahoney State Park, Ashland, NE
Various
The Cornhusker, Lincoln, NE
Various
The Cornhusker, Lincoln, NE
11
NFPC 19th Annual Not-For-Profit Conference
16
FASBI FASB Review for Business & Industry
AA Michael Morgan, AICPA
Mahoney State Park, Ashland, NE
17
Guide to Business Combinations, Goodwill, and Other ConAGC
AA Michael Morgan, AICPA
solidation Issues
Mahoney State Park, Ashland, NE
18
QBO4
QuickBooks Online - Changing the Paradigm of Small BusiAA Karl Egnatoff, K2 Enterprises
ness Accounting-NEW! (4-Hour Morning Course)
Mahoney State Park, Ashland, NE
18
TTG4
Tech Tools and Gadgets for a More Efficient You! NEW!
(4-Hour Afternoon Course)
MA Karl Egnatoff, K2 Enterprises
Mahoney State Park, Ashland, NE
19
CLC Cloud Computing
MA Karl Egnatoff, K2 Enterprises
Mahoney State Park, Ashland, NE
22
ANR Accounting for New Revenue Standard Workshop - NEW!
AA Rebecca M. Lee, Loscalzo
Quarry Oaks, Ashland, NE
23
CAS Compliance Auditing from Start to Finish - NEW!
AA Rebecca M. Lee, Loscalzo
Quarry Oaks, Ashland, NE
25
Advanced Selected Issues for Trusts, Estates & Their BenITEB
eficiaries
Doug J. Stanley, Surgent
TX
McCoy
Mahoney State Park, Ashland, NE
26
TCTW The Complete Trust Workshop!
TX
Doug J. Stanley, Surgent
McCoy
Mahoney State Park, Ashland, NE
AA
Julie Bauman, CPA & Marcy
Luth, CPA
30
ASD Audits of Nebraska School Districts
Holiday Inn & Conf. Ctr., Kearney, NE
2015 #CPAPOWERED Promotes CPAs
To help entrepreneurs understand the full range of
services a CPA brings to small businesses, the AICPA has
launched the 2015 #CPAPOWERED campaign: CPA Secrets
to a Be�er Business. Many business owners and entrepreneurs don’t realize how much the advice of a CPA can help
them start, grow and thrive. This na�onal media program
promotes CPAs to the small business community via social
media and posi�ons them as trusted advisers who understand the unique needs of this segment. A series of CPA
Secrets to a Be�er Business videos on topics ranging from
understanding health insurance and acquiring nancing to
succession planning address small business concerns and
offer viewers insights into the value and exper�se of CPAs.
Visit the campaign microsite, cpapowered.org, to see the
videos and other resources that communicate your value
and exper�se. If you have a CPA secret to a be�er business, email it to [email protected] to be considered
for inclusion on the microsite.
9
FRF FOR SMES™ GAINING RECOGNITION
From the AICPA
In your role as trusted business adviser, you’re always looking for helpful
ways to address your clients’ pain points.
Imagine being able to provide your small
business clients with common sense solutions on certain financial reporting requirements with a new financial reporting framework. That’s exactly what Wisconsin-based accounting firm KerberRose has done in approaching its existing
GAAP-based and income-tax-basis clients and encouraging them to consider
the Financial Reporting Framework for
Small- and Medium-Sized Entities, a non
-GAAP reporting option for owner managed, privately held companies. The
firm has moved about a quarter of its
privately held small business client base
to the FRF for SMEsTM accounting
framework and the response from both
clients and their financial statement users
has been very positive.
Since its release in 2013, the FRF for
SMEs has been gaining traction among
CPAs, financial statement users and
small businesses across the country. A
March 2014 Op-Ed piece by the editor of
the A merican Bankers A ssociation A BA
Banking Journal highlighted the framework and encouraged banks to consider
accepting financial statements based on
the framework to stay competitive in the
small business marketplace. Ongoing
AICPA educational campaigns have
helped to keep the framework top of
mind with financial statement users and
owners of small businesses.
CPAs Engaging Clients
The AICPA has received positive
feedback from practitioners using the
FRF for SMEs Toolkit for CPAs and
Firms. Armed with the kit’s informative
tools and resources, practitioners are seeing strong outcomes from their client and
lender outreach. A new case study—one
of two developed for the refreshed
toolkit—demonstrates how CPA firms
like KerberRose are encouraging clients
to adopt the framework. Additionally, the
AICPA’s Private Companies Practice
Section’s framework-related networking
groups have identified lessons-learned
and helpful tips that CPAs have employed in their efforts with clients and
lenders to gain acceptance of the framework. Practitioners can request to join
10
the FRF for SMEs networking groups by
emailing [email protected]. Be sure to
indicate the size of your firm in your
message so the AICPA places you in a
networking group with your peers.
Marketplace Acceptance
A targeted educational campaign to
bankers and small businesses, which ran
over the summer, homed in on the FRF
for SMEs’ value for each stakeholder.
For bankers, the advertisements focused
on the competitive advantage for lenders
who accept statements based on the
framework. Similarly, web banners targeted to small business owners highlighted the cost benefits for the company:
ease of using the framework as well as
the relevance of the information provided
by FRF for SMEs financial statements.
Stakeholders from all over the U.S. have
seen banner ads in a variety of online
financial and mainstream publications.
New and Updated Resources
Help You Promote Your Expertise
and Educate Stakeholders
The AICPA has developed new, free
resources to help stakeholders understand
the FRF for SMEs option. Three toolkits
are available: one for CPAs (segmented
by firm size), another for users of financial statements and a third for small businesses. In addition, the AICPA has updated and refreshed other resources to
help CPAs support the framework and
promote their services among clients and
banks.
As you prepare 2014 financial statements, consider whether FRF for SMEs
is your client’s best financial reporting
option. If it is, these resources will help
you convey how the framework delivers
financial statements that provide useful,
relevant information in a simplified, consistent, cost-effective way.
CPAs can download the FRF for
SMEs framework and related educational
resources for free. Use the toolkit, tailored by firm size, to discuss the framework with clients, employers and users
of financial statements.
For more information, please visit
www.aicpa.org/FRF-SMEs.
OPPORTUNITIES AVAILABLE
PAGES 11 & 12
Senior Accountant Financial Reporting
Overview:
Primary responsibilities will include
supervising and coordinating the Company’s (i) GAAP research, application,
and compliance; (ii) preparation of Securities and Exchange Commission filings;
(iii) compliance over internal controls
over financial reporting.
Responsibilities:
GAAP research and compliance
1. Perform GAAP research and analysis
and apply results to the Company’s
operations and/or specific transactions
2. Monitor and implement new accounting guidance as determined applicable
to the Company
3. Be a resource and/or assist other business segments in application of
GAAP related to unusual and/or significant transactions
(Continued in next two columns)
2015 CATALOG . . .
From Page 1
The annual publication contains
descriptions of over 90 CPE courses
being offered from May through December, 2015; early information about
the Society’s three annual conferences;
CPE pricing, locations and procedural
information and a CPE registration
form.
After some discussion in recent
years, the Society’s Board of Directors and the Society staff decided not
to include the Society’s membership
roster in the Catalog/Resource
Guide. Members wanting a copy of
the 2015 roster can contact Executive
Vice President Meyer at tmeyer@nescpa. org for further information about the roster’s availability
and the process to obtain a copy.
The
Society’s
website,
www.nescpa.org contains the most current information on all CPE courses
and conferences. Online registration is
available for CPE courses and all
courses are approved by the Nebraska
Board of Public Accountancy.
Also, check Page 5 of this newsletter for a 2015 coupon that can be used
for a CPE course held this year.
Preparation of Securities and Exchange
Commission Filings
1. Assist with monitoring required SEC
disclosure information and coordinate
receipt and review of such information
2. Compile and prepare financial and
related information for presentation in
the Company's SEC filings
3. Work with external auditors during
their review of SEC filings
The Company's internal controls over
financial reporting:
1. Assist with coordinating the Company's compliance related to internal
controls over financial reporting (and
the provisions of Sarbanes-Oxley
Section 404)
2. Participate in the development of a
sustainable solution to identify, analyze, and monitor financial statement
risks and the related internal controls
over financial reporting in order to
meet the Company's financial reporting objectives and for SarbanesOxley Section 404 compliance
3. Identify, develop, and implement
improvements and best practices in
regards to internal controls over financial reporting
4. Assist with the development of programs to educate and train others on
the performance of internal controls
over financial reporting
5. Plan and review tests of internal controls to ensure they are carried out
effectively and timely
Other
1. Document, report and follow through
on recommendations from projects
2. Work with external organizations,
including auditors, and internal departments on project initiatives and
various accounting issues
Qualifications:
EDUCATION:
4-year degree in accounting, CPA preferred
EXPERIENCE:
1. 2+ years accounting and/or financial
statement audit experience or related
experience
2. Experience with identifying, analyzing, documenting, and monitoring
internal controls over financial reporting and GAAP research
COMPETENCIES
–
SKILLS/
KNOWLEDGE/ABILITIES:
1. Knowledge of internal controls as
they relate to financial reporting.
2. Knowledge/understanding of the COSO framework.
3. Knowledge of accounting practices
and procedures, including generally
accepted accounting principles. Ability to independently research the
proper accounting treatment for significant and/or unusual transactions.
4. High degree of proficiency in Microsoft Office – including Excel and
Word and other computer applications. Experience with Access helpful.
5. Excellent oral and written communication skills.
6. Effectively interact with various divisions and levels of management
throughout the Company.
7. High standards for productivity with
the ability to work in a fast-paced
environment and juggle multiple
competing tasks and demands. Utilization of effective organization and
prioritization skills to complete assignments within established time
frames.
8. Exceptional organization skills.
9. Initiative to troubleshoot problems
independently, examine existing processes, identify and analyze situations, and generate alternative solutions or suggestions on how to do
things better.
10.Demonstrate sound judgment by taking appropriate actions regarding
questionable findings or concerns.
EEO Statement:
Nelnet is an Equal Opportunity Employer, complies with Executive Order
11246, and takes affirmative action to
ensure that qualified applicants are employed, and that employees are treated
during employment, without regard to
race, color, religion/creed, national
origin, gender, or sex, marital status,
age, disability, use of a guide dog or
service animal, sexual orientation, military/veteran status, or any other status
protected by Federal or State law or local ordinance. Qualified individuals
with disabilities who require reasonable
accommodations in order to apply or
compete for positions at Nelnet may
request such accommodations by contacting Nelnet Talent Acquisition &
Recruiting.
Nelnet is a Drug Free and Tobacco Free
Workplace.
Please apply online at http://
www.nelnet.com/careers/
11
2015 Society
Conferences
Cathy Brockhaus of Lincoln has been elected Second VicePresident—Planning for Ameritas Life and Ameritas Life of New York. . .
. Eryn Stevens of Omaha has been pr omoted to Shar eholder in the
Governmental Accounting
Omaha firm of DeBoer & Associates, PC. . . .Jennifer L. Dvorak has
& Auditing Conference
merged her Aurora tax practice with the firm of Dohman, Akerlund & EdJune 9-10, 2015
dy, LLC in Aurora. . . .Kevin Slattery of Lincoln has joined the Omaha
firm of Frankel Zacharia as an Audit Senior Accountant. . . .Jim Sousley
The Cornhusker
and Tom Hosier of Omaha have earned the designation of Chartered AdviLincoln, NE
sor in Philanthropy through the Omaha Community Foundation. . . Tricia
——————————
Montague of Elkhor n is ser ving as the Tr easur er on the Boar d of DiNot-For-Profit Conference
rectors of the Special Olympics Nebraska and Mark Walz of Lincoln is a
June 11, 2015
member of the Board. . . . Richard Vierk of Lincoln has been elected
The Cornhusker
Chairman of the Board of the Lincoln Community Foundation and Mark
Walz of Lincoln has been elected Tr easur er .. . . Amanda Patrick of
Lincoln, NE
Omaha has been promoted to Audit Manager in the Omaha firm of Seim
——————————
Johnson. . . Randy Wiese of Omaha has been elected Chairman of the
Annual Meeting &
Board of Directors for Habitat for Humanity of Omaha and Dan Koraleski
Fall CPE Conference
of Omaha has been elected Treasurer. . . .Ryan McLouth of Omaha has
October 26-27, 2015
been promoted to Manager in the Medicare Division of Bland & AssociEmbassy Suites
ates in Omaha. . . . Ray Stoupa of Omaha has been named to the Board of
Directors of the Visiting Nurse Association. . . .Randy Throener of Lincoln
LaVista, NE
is a graduate of the Leadership Nebraska Class VII which is sponsored by
the Nebraska Chamber of Commerce
and Industry. . . John Fruhwirth of
Do Your Clients Need
Omaha has been named President of
Low-Cost Incorporation Services?
Archon Woodworks Inc. in Omaha.
OPPORTUNITIES AVAILABLE
PAGES 11 & 12
THINKING OF SELLING
YOUR PRACTICE?
Accounting Practice Sales is the
leading marketer of accounting
and tax practices in North America. We have a large pool of
buyers, both individuals and
firms, looking for practices now.
We also have the experience to
help you find the right fit for
your firm and negotiate the best
price and terms. To learn more
about our risk-free and confidential services, call Trent Holmes
at 1-800-397-0249 or email
Trent@accountingpracticesales.
com.
12
Attorney Prepared—Prompt and Affordable
Filing Fees and Costs Included
NE or IA, standard organizations:
Incorporation
$449.00
Nonprofit Corporation
$449.00
Limited Liability Company
Professional Corporation
$499.00
$549.00
(Nebraska Only)
Additional States Available—Call for Pricing
7602 Pacific Street, Suite 200
Omaha, NE 68114
Phone 402-391-2400
www.whitmorelaw.com
Fax:402-391-0343
email:[email protected]