September 2013 ASCPA NL

September 2013

PresidentDouglas W. Coy

Executive DirectorBruce C. Alt

Published Monthly ByTHE ARKANSAS

SOCIETY OFCERTIFIED

PUBLICACCOUNTANTS

11300 Executive CenterLittle Rock,

Arkansas 72211-4352Telephone

1-800-482-8739(In Arkansas)

(501) 664-8739Fax (501) 664-8320

www.arcpa.org

In This Issue

• ASCPA AnnualConvention . . . . .2-3

• ASCPA AnnualMeeting . . . . . . . . .4

• Classifieds . . . . . .24• CPE . . . . . . . . . .5-7• Emerging CPAs .8-9• Financial

Literacy . . . . . . . .10• Leadership . . .12-13• Member

Services . . . . . . . .14• Membership . .16-17• Peer Review . . . .18• Practice

Management . . . . .19• Student Career

Fair . . . . . . . . . . . .21• Student Education

Fund . . . . . . . .22-23

Winthrop RockefellerInstitute

Petit Jean MountainSeptember 19-21, 2013

Join us at the 2013 ASCPA AnnualConvention that will be held on Petit JeanMountain at the Winthrop Rockefeller Institute.The Institute was established in 2005 by theUniversity of Arkansas System with a grantfrom the Winthrop Rockefeller Charitable Trust

and is a premier conference and educational center. Petit Jean Mountain is a great setting with manyattractions for everyone to enjoy. With its views, enchanting woodlands laced with streams andwildflowers, and the spectacular Cedar Falls, it’s no wonder Petit Jean Mountain was namedArkansas’ first state park. The 2013 ASCPA Annual Convention will be an educational and naturalArkansas beauty experience.

Annual Convention Presentations and Technical Sessions

• Update on Pathways Commission Report by William F. Ezzell - 2 CPE Credit Hours

• Top Trends in Technology, presented by Reggie J. Henry - 2 CPE Credit Hours

• Understanding COSO Internal Controls, presented by Joseph A. Sanford - Optional 4 CPE

• Hottest Tax Planning Developments, presented by Joseph A. Sanford - Optional 4 CPE

• President’s Reception

• Annual Awards Banquet

• Past Presidents’ Breakfast

• Annual Business Meeting

• Officers and Directors Meeting

REGISTER NOW!www.arcpa.org

NEWSLETTER

2013 ASCPA ANNUAL CONVENTION

Winthrop Rockefeller Institute

Arkansas Society of Certified Public Accountants

Pathways Commission Report(2 CPE Hours included with full registration)Presented by: William F. Ezzell, CPA RetiredCo-Leader, Pathways Commission,Washington, DC

The Pathways Commission was formed bythe American Accounting Association (AAA)and American Institute of CPAs (AICPA) to

study and provide recommendations on the future structure ofhigher education for the accounting profession. The sixcommissioners were joined by over 40 representatives from avariety of academic, practice and organizational settings withinthe broadly defined accounting profession. The Commission’sreport not only contains many recommendations for enhancingaccounting education and the linkage between academia andpractice, but also focuses significant attention onimplementation activities to overcome impediments to change.Bill Ezzell will discuss the recommendations and ongoingPathways Commission activities to encourage adoption andimplementation of new directions in accounting education.

Top Trends in Technology(2 CPE Hours included with full registration)Presented by: Reginald J. Henry, CAEChief Information Officer, ASAE & theCenter for Association LeadershipWashington, DC

Join Reggie Henry, CAE, Chief InformationOfficer of the American Society of Association Executives(ASAE), as he discusses the top trends in technology and theirimplications for organizations. Topics to be covered includecloud computing, mobile, social media and more. Learn whattools ASAE and other major organizations are utilizing to servetheir members.

Understanding COSO Internal Controls(CL4ICDAD) - Optional 4 CPE HoursPresented by: Joseph A. Sanford, CPACEO, Sanford & Company, PA, Mena, AR

Interpreting and evaluating management’sdocumentation of accounting processes andcontrols may be confusing to managers,supervisors and accountants in business,

government or nonprofits. Identifying departmental policies andprocedures that function as the primary controls against errorsand fraud can be confusing for auditors performing field work.Due to the complex issues of internal control, neither party maytruly understand how their duties differ. This session will providea solid understanding of systems and control documentation,while integrating an overview of the latest COSO guidance.Explore the basic tools used to document an accountingprocess and identify the risks of errors and fraud in theaccounting system and the presence (or absence) ofcompensating controls.

Hottest Tax Planning Developments (CL4HOT) - Optional4 CPE Hours Presented by: Joseph A. Sanford, CPACEO, Sanford & Company, PA, Mena, AR

Are you up-to-date on the latest tax planning developmentsfor 2013? This seminar explores the hottest tax planning topics

for the year. Discover how these topics may impact your clients'tax strategy plans. This session will provide you with the latesttax law changes that you will need to ensure your clients' taxplans are current for the year and into the future.

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ASCPA ANNUAL CONVENTION

2013 SCHEDULE OF EVENTSWEDNESDAY, SEPTEMBER 18, 2013Afternoon and Evening Participants arrive and check in

THURSDAY, SEPTEMBER 19, 20137:30 a.m.—8:30 a.m. Registration, Continental Breakfastand Visit with Exhibitors8:30 a.m. Optional 4 CPE Hours—UnderstandingCOSO Internal Controls (CL4ICDAD) Presented by:Joseph A. Sanford, CEO of Sanford & Company, PA12:00 Noon CPE Course Adjourns/Box Lunches Provided1:00 p.m. Optional 4 CPE Hours—Hottest Tax PlanningDevelopments (CL4HOT) Presented by: Joseph A.Sanford, CEO of Sanford & Company, PA4:30 p.m. CPE Course Adjourns6:00 p.m.—9:00 p.m. Cookout and Networking inBoathouse Area Pavilion with Outdoor ActivitiesAvailable

FRIDAY, SEPTEMBER 20, 20137:30 a.m.—8:30 a.m. Past Presidents’ Breakfast7:30 a.m.—8:30 a.m. Registration, Continental Breakfastand Visit with Exhibitors8:30 a.m.—10:10 a.m. Update on PathwaysCommission (2 CPE Hours included with fullregistration) Presented by: William F. Ezzell, Co-LeaderPathways Commission10:20 a.m.—12:00 Noon Top Trends in Technology (2CPE Hours included with full registration) Presentedby: Reginald J. Henry, Chief Information Officer ASAE &the Center for Association Leadership12:00 Noon Box Lunches ProvidedAfternoon Activities on your own6:00 p.m.—9:30 p.m. President’s Reception and AnnualAwards Banquet

SATURDAY, SEPTEMBER 21, 20137:30 a.m.—8:30 a.m. Continental Breakfast and Visit withExhibitors8:30 a.m.—9:30 a.m. ASCPA Annual Business Meeting9:30 a.m.—12:00 Noon ASCPA Board Meeting12:00 Noon Lunch provided for Board MembersAfternoon Activities on own or depart for home

ASCPA Newsletter: September, 2013

REGISTRATION

Member Name _______________________________________________ Nickname for Badge _______________________

Spouse Name ________________________________________________ Nickname for Badge _______________________

Guest Name _________________________________________________ Nickname for Badge _______________________

Firm/Company _________________________________________________________________________________________

Payment Method: ( ) Company Check ( ) Personal Check ( ) Visa ( ) MasterCard

Name on Card __________________________________________________________________

Credit Card Number ______________________________________________ Expiration Date _________________________

Please Return with Registration Payment to:Arkansas Society of CPAs, 11300 Executive Center Drive, Little Rock, AR 72211-4352

Registrations with Credit Card Payment are also accepted by:Fax - 501-664-8320 • Website - www.arcpa.org • Phone - 800-482-8739 or 501-664-8739

For Overnight Accommodations Please Contact:Winthrop Rockefeller Institute on Petit Jean Mountain • 1 Rockefeller Drive

Morrilton, Arkansas 72110 501-727-5435 or Toll Free: 866-972-7778

Most room types are $84.00 per night plus tax. Pines House is $139.00 per night plus tax.Lodging rates are based on double occupancy. A limited number of sleeping rooms have been blocked

for those wishing to stay over until Sunday.

3

ASCPA ANNUAL CONVENTION

Full Registration - ASCPA MemberIncludes: 4 Hours CPE (Pathways Commission Report & Top Trends in Technology) Also includes: Cookout,3 Continental Breakfasts, 3 Refreshment Breaks, President’s Reception, Annual Awards Banquet, andAnnual Business Meeting( ) $225.00 Per Person

Full Registration - Spouse / Guest / ChildIncludes: Cookout, 3 Continental Breakfasts, 3 Refreshment Breaks, President’s Reception and AnnualAwards Banquet( ) $125.00 Spouse / Guest / Child

Optional CPE Session (4 CPE Hours) Thursday September 19, 8:30 a.m.—12:00 NoonUnderstanding COSO Internal Controls (CL4ICDAD)( ) $200 Non-Member ( ) $145 Member ( ) $135 Early Discount MemberEarly Discount Fee Applies to Registrations Received by September 4

Optional CPE Session (4 CPE Hours) Thursday September 19, 1:00 p.m.—4:30 p.m.Hottest Tax Planning Developments (CL4HOT)( ) $200 Non-Member ( ) $145 Member ( ) $135 Early Discount MemberEarly Discount Fee Applies to Registrations Received by September 4

President’s Reception and Awards Banquet OnlyFriday September 20, 6:00 p.m. - 9:30 p.m.( ) $ 60.00 Per Person

Total Amount Enclosed:

Amount

$___________

$___________

$___________

$___________

$___________

$___________


ASCPA ANNUAL MEETING

4

NOTICE OF ASCPA ANNUAL MEETINGSeptember 21, 2013 • Winthrop Rockefeller Institute • Morrilton, Arkansas

The order of business will be as described in Bylaws Article V

REPORT OF THE NOMINATIONS COMMITTEE

In accordance with the Bylaws of the Arkansas Society of Certified Public Accountants, the Nominations Committee,consisting of Chairman W.L. Cook, Roy M. Boyd, Charlott A. Jones, Wesley D. Murtishaw, Jimmie L. Shannon, and JacksonA. White, presents the nominations of Officers and Directors for terms beginning April 1, 2014. These nominees will bepresented to the membership for election at the Annual Business Meeting on September 21, 2013. The nominees are:

Vice President Jerry E. Spratt 4/1/2016 - 3/31/2017 (Term as President)Secretary Julienne P. Penter 4/1/2014 - 3/31/2016Treasurer Randy L. Milligan 4/1/2014 - 3/31/2016Director Todd T. Corley 4/1/2014 - 3/31/2017Director Chris N. Flynt 4/1/2014 - 3/31/2017Director Katherine J. Lejong 4/1/2014 - 3/31/2017

Douglas W. Coy, who was previously elected President, assumed office on April 1, 2013. President-Elect Charlott Jones,also previously elected, assumes office as President on April 1, 2014. Vice President Roy M. Boyd assumes office as Presidenton April 1, 2015. The following Directors will continue to serve until their terms expire: Russell G. Apple, John C. Hoy, JacobM. Keen, Deborah K. Bays, Martha A. Grant, Amy G. Layne, Shirley Carman, William Chad Miller, and Terrye A. Stinson.

ASCPA PROXY VOTE

A vote will be taken on the following items at the ASCPA 2013 AnnualBusiness Meeting on September 21, 2013. If you will be unable to attend, pleasecomplete this form and return to the Society office so that we may have an officialquorum.

NOTICE TO MEMBERSHIP

1. ASCPA Nominations Committee Report

2. 2012-2013 ASCPA Audit Report as prepared by Bell, Foster, Johnson & Watkins, LLP.(Mailed to ASCPA Membership in Annual Report, inserted into August 2013 Newsletter)

1. ( ) I approve the Slate of Officers and Directors with terms commencing April 1, 2014, as presented.( ) I do not approve the Slate of Officers and Directors with terms commencing April 1, 2014, as presented.

2. ( ) I approve the 2012-2013 ASCPA Audit Report as presented.( ) I do not approve the 2012-2013 ASCPA Audit Report as presented.

Signature _____________________________________________________________________________________

Please email [email protected] or Fax to ASCPA at (501) 664-8320Attention: Emily McGhee


CPE

5

CPA CROSSINGS WEBINARSSave Money... Save Time... Stay Focused!

The Arkansas Society of CPAs is partnering with CPACrossings to offer an extensive catalog of “live” 2-hour,web-based CPE programs produced and delivered byCPA Crossings, LLC, or by one of its approved webinarcourse developers. Our 2013 calendar consists of morethan 50 topics specializing in the areas of technology,practice management, workflow automation, tax, ethics,and accounting/auditing.

Our webinars provide an affordable and flexiblealternative to traditional CPE to save you both time andmoney! Discounts are available for groups of 3 or moreparticipants, a perfect option for firm training to maximizesavings.

www.arcpa.org/Content/CPE_Webinar.aspx

Daybreak DevelopmentProfessionalEducationfor CPAs

on the Move7:00 - 8:40 a.m. • 2 Hours of CPE

$30 Member Fee

Want to get out of the office, earn CPE credits and stillnot lose a full day of work?

The ASCPA will be hosting several two-hour breakfastmeetings for CPAs. We hope our members find this to be theperfect way to earn credit while continuously staying current onupcoming trends, timely issues happening within the profession,and an opportunity to network with fellow colleagues. Themorning programs hosted by ASCPA will include a continentalbreakfast and CPE sessions related to the accounting field.

Daybreak Development Schedule

➸ September 4 “Compilation and Review Essentials”Presented by William C. Miller, L. Cotton Thomas & Company

➸ October 9 “But Saint Peter, I Was Just Being a CPA (Ethics)”Presented by Charles C. Owen, Gil Ragon Owen Attorneys

➸ November 13 “Follow the Yellow Book Road” Presented byPaula M. Kinnard, Legislative Audit

➸ December 4 “401(k): A Retirement Plan Option” Presentedby Laura Ward, Paychex

Register today at www.arcpa.org

Support Your ASCPA PACAdvance the CPA Profession!

Make plans to support your ASCPA Political ActionCommittee during the ASCPA Federal Tax Institute in LittleRock on December 5-6, 2013.

PAC contributions, including those from this event, willallow firms or individual Society members to makevoluntary contributions which will used to advance theinterests of the Society’s membership.

Mark your calendars now and watch future newslettersfor details. For questions contact Bruce Alt at (501) 664-8739 or [email protected].

2014 Multi-StateCPE & Ski Conference

Beaver Run Resort & Conference Center

Sponsorship: Sponsored by the Colorado Society of CPAs and thefollowing eighteen state CPA Societies: Arkansas Society of CPAs,Connecticut Society of CPAs, Florida Institute of CPAs, Hawaii Society ofCPAs, Idaho Society of CPAs, Iowa Society of CPAs, Kansas Society ofCPAs, Society of Louisiana CPAs, Massachusetts Society of CPAs,Mississippi Society of CPAs, Montana Society of CPAs, Ohio Society ofCPAs, South Carolina Association of CPAs, South Dakota Society ofCPAs, Texas Society of CPAs, Utah Association of CPAs, WashingtonSociety of CPAs, Wisconsin Institute of CPAs.

The 2014 Multi-state CPE & Ski Conference supported by nineteen stateCPA societies is pleased to bring you the very best CPE & Ski Conference.The Conference features six 4-hour sessions on a wide variety of today’smost popular CPE topics. The instructors rank among the top CPEinstructors in the United States. To receive an information packetcontaining detailed course descriptions and instructor biographies, pleasecall K2 Enterprises at (888) 542-9390.

Hotel Accommodations: Reservations can be made by calling BeaverRun Resort at 1-800-525-2253 and identifying as being part of theColorado Society of CPAs CPE & Ski group and/or K2 Enterprises CPE &Ski and group code: CPA44X www.k2e.com/ski.


6

CPE

SEPTEMBER

6 AA URRF Update and Review of Risk Factors, Red Flags 8 Little Rock ASCPA Jerry E. Spratt $345 $315 $245 $215and Characteristics of Occupational Fraud Conference Center

16 AA FRF Financial Reporting Framework for Small & Medium 8 Little Rock ASCPA Provided by AICPA $345 ** $315 ** $245 ** $215 **Medium Sized Entities

19-21 OT AC ASCPA Annual Convention 4 Morrilton, Winthrop Provided by ASCPA $225 $225 $225 $225Rockefeller InstitutePetit Jean Mountain

19 AA CL4ICDAD Understanding COSO Internal Controls 4 Morrilton, Winthrop Joseph A. Sanford $200 $185 $145 $135(8:30am - 12:00pm) Rockefeller Institute

Petit Jean Mountain19 TX CL4HOT Hottest Tax Planning Developments 4 Morrilton, Winthrop Joseph A. Sanford $200 $185 $145 $135

(1:00pm - 4:30pm) Rockefeller InstitutePetit Jean Mountain

23 TX ADTS Advanced Tax Structures: Using Tiered Partnerships, 8 Little Rock ASCPA Charles C. Owen $345 $315 $245 $215Multiple Corporations, Series LLCs & Disregarded Entities Conference Center

24 TX HMBI Surgent McCoy’s Handbook for Mastering Basis, 8 Little Rock ASCPA Charles C. Owen $345 $315 $245 $215Distribution, and Loss Limitation Issues for Conference CenterS-Corporations, LLCs and Partnerships

26 TX DRMM Determining How Much Money You Need to Retire, 8 Little Rock ASCPA David Hultstrom $345 $315 $245 $215and Tax Ideas & Money Management in Retirement Conference Center

27 TX SSRB Social Security, Medicare, and Prescription Drug 8 Little Rock ASCPA Charles C. Owen $345 $315 $245 $215Retirement Benefits: What Every Baby Boomer Needs Conference Centerto Know Now

30 CP EBP Excel Best Practices 8 Little Rock ASCPA Provided by $345 $315 $245 $215Conference Center K2 Enterprises

OCTOBER

1 CP QBA QuickBooks for Accountants 8 Little Rock ASCPA Provided by $345 $315 $245 $215Conference Center K2 Enterprises

2 CP TMO NEW! The Mobile Office 8 Little Rock ASCPA Provided by $345 $315 $245 $215Conference Center K2 Enterprises

3-4 AA FRAUD Fraud Conference (WEBCAST) 16 Little Rock ASCPA Provided by $665 $630 $465 $435Conference Center Jerry Spratt

17-18 MS ICC-33 Thirty-Third Annual Industry, Commerce 16 Little Rock ASCPA Provided by Industry, $440 $410 $240 $210and Banking Conference (WEBCAST) Conference Center Commerce, & Banking

Conference Committee21 TX DIRS Handling IRS Disputes 8 Fort Smith, Beall Joseph A. Sanford $365 ** $335 ** $265 ** $235 **

Barclay Conf. Center21 AA SNPR Upcoming Peer Review: Is Your Firm Ready 8 Little Rock ASCPA J. Mason Andres $325 ** $295 ** $225 ** $195 **

Conference Center22 TX SCORP S-Corporations Fundamentals 8 Fort Smith, Beall Joseph A. Sanford $365 ** $335 ** $265 ** $235 **

Barclay Conf. Center22 TX ACAU Annual Accounting and Auditing Update 8 Jonesboro Provided by $375 $345 $275 $245

Hilton Garden Inn Surgent McCoy23 AA IEFP The Best Income Tax, Estate Tax, and Financial 8 Jonesboro Provided by $375 $345 $275 $245

Planning Ideas of 2013 Hilton Garden Inn Surgent McCoy23 AA/GOV A133 OMB A-133 from A to Z 8 Springdale Provided by $375 $345 $275 $245

Holiday Inn Surgent McCoy24 AA/GOV ANFP Auditing Not-for-Profit Entities: Superior 8 Springdale Provided by $375 $345 $275 $245

Holiday Inn Surgent McCoy25 OT YCPA Emerging CPAs Conference (WEBCAST) 8 Little Rock ASCPA Provided by the $ 65 $ 65 $ 65 $ 65

* Members Only Conference Center Emerging CPAsCommittee

28 TX CGPT The Complete Guide to Payroll Taxes and 1099 8 Little Rock ASCPA Provided by $345 $315 $245 $215Issues Conference Center Surgent McCoy

29 TX TPGS Surgent McCoy’s 2013 Annual Tax Planning Guide for 8 Little Rock ASCPA Provided by $345 $315 $245 $215S-Corporations, Partnerships and LLCs Conference Center Surgent McCoy

Continued on page 7

Field Early Member EarlyOf CPE Course Discounted Discounted Discounted

Date Study Acronym Course Title Credit Location Speaker Fee Course Fee Fee Member Fee

2013 CPE Schedule of Courses & Conferences, September through October


7

CPE

(Please Copy Registration Form as Needed)

Name________________________________________________________ Certificate Number____________________________

Firm Name_______________________________________________________________________________________________

Phone Number ______________________ Fax Number ______________________ E-Mail _______ ______________________

Address/City/State/Zip _____________________________________________________________________________________

Are you a member of your state society? ______ Yes ______ No If Yes, What State?______________________________

Are you a member of AICPA? ______ Yes ______ No (AICPA Members will receive a $30 per course discount on courses denoted with an **)

If you have a specific need contact the CPE Department at least one week prior to the course orfor questions at any time call 501-664-8739 or 800-482-8739

Course Title or Acronym Date Fee

•_______________________________________________________________________________________________________

•_______________________________________________________________________________________________________

•_______________________________________________________________________________________________________

Less AICPA Discount $ __________________(AICPA Discount is $30 off of the course fee listed and is ONLY for AICPA members and ONLY on those courses denoted with an **)

Total Amount Enclosed $ __________________

Payment Method: ( ) Company Check ( ) Personal Check ( ) AMEX ( ) Visa ( ) MasterCard

CARD NUMBER: ___________________________________________________ EXPIRATION DATE ___________________

MAIL REGISTRATION WITH PAYMENT TO: ASCPA, 11300 Executive Center Drive, Little Rock, AR 72211-4352WITH CREDIT CARD INFORMATION, REGISTRATION IS ALSO ACCEPTED BY:

FAX: (501) 664-8320 WEB SITE: www.arcpa.org PHONE: (501) 664-8739 or (800) 482-8739 IN ARKANSAS

Cancellation Policy: Full refund, less a $10.00 service charge will be made if notice of cancellation is received at least 60 days prior to the courseor conference date. Full refund, less a $25.00 service charge will be made if notice of cancellation is received between 10 and 60 days prior to thecourse or conference date. NO REFUND WILL BE MADE IF NOTICE OF CANCELLATION IS RECEIVE LESS THAN 10 DAYS PRIOR TO THECOURSE OR CONFERENCE DATE. Registrants may not transfer from one course to another.

Full Payment Must Accompany the Registration Form

COURSE & CONFERENCE REGISTRATION FORM

OCTOBER Continued

30 AA RRNS Revenue Recognition 8 Little Rock ASCPA Provided by AICPA $345 ** $315 ** $245 ** $215 **Conference Center

31- TX FTU-2 day 2-Day Federal Income Tax Update for the Year 16 Little Rock Vernon C. Hoven and $720 $690 $520 $490Nov. 1 2013-14; Individual, Business and Corporate Embassy Suites Ron R. Roberse

Field Early Member EarlyOf CPE Course Discounted Discounted Discounted

Date Study Acronym Course Title Credit Location Speaker Fee Course Fee Fee Member Fee

All courses begin at 8:30 a.m. and end at 4:30 p.m. unless otherwise noted. For conference times refer to conference brochures.** Denotes American Institute of Certified Public Accountants’ Course, AICPA Members May Deduct $30 from the Course Registration Fee.

(8 hours AICPA courses only)Denotes Webcast Special Needs? Please contact the Society office at (501) 664-8739.

See Registration Form for Courses and Conferences below.


8

EMERGING CPAS

Emerging CPAs Conference* ASCPA Emerging CPA Members Only *

Friday, October 25, 2013ASCPA Conference Center

8 Hours of CPE (includes 2 hours of Ethics)Registration Only $65.00

This conference is designed to meet the professional needs of Emerging CPAs, 40 and younger or those who havepassed the CPA exam within the last 10 years.

New Networking Event on Thursday, October 24, 2013 – Welcoming ALL ASCPA Members• 5:30 - 7:00 p.m. E-CPA Networking Reception, Sponsored by Frost PLLC

ASCPA Conference Center, Little Rock, AR

Friday, October 25, 2013• 7:30 - 7:30 a.m. Continental Breakfast and Visit with Exhibitors

• 8:30 - 9:20 a.m. Communicating to Non-AccountantsMichele Kemp, Accounting & Consulting Advisory Services

• 9:30 - 10:20 a.m. Salary Negotiation / Resume BuildingStephanie Shine, Robert Half

• 10:20 - 11:10 a.m. Partnering with Your Alma MaterDr. Phil Brown, Harding University

• 11:20 - 12:10 p.m. Fraud / Internal ControlsJerry Spratt, Spratt Financial Forensics, Inc.

• 12:10 - 12:50 p.m. Networking Lunch• 12:50 - 2:30 p.m. Professional Ethics

Patricia Mounce, University of Central Arkansas• 2:40 - 3:30 p.m. Growing Professionally

Georgia Mjartan, Our House• 3:30 - 3:45 p.m. E-CPA Happy Hour• 3:45 - 4:35 p.m. Work / Life Balance

Jacob Wells, JPMS Cox• 4:45 p.m. Summary and Adjourn

Name: __________________________________________________ Certificate ______________________________

Firm: __________________________________________________________________________________________

Address: _______________________________________________________________________________________

City / State / Zip __________________________________________________________________________________

Phone: __________________________________________ Fax __________________________________________

E-mail: ________________________________________________________________________________________

Payment: _____ Personal Check _____ Firm Check ___ Visa ___ American Express ___MasterCard

Credit Card Number: __________________________________________ Expiration Date: __________________

Signature ___________________________________________________

Register online at http://bit.ly/1b1LGLW or mail this registration form with payment to:ASCPA, 11300 Executive Center Drive, Little Rock AR 72211-4352

Fax to 501-664-8320 or Call 501-664-8739


9

EMERGING CPAS

Matthew D. Summitt, CPA, ABV,was recently named as therecipient of the Arkansas Societyof Certified Public Accountants(ASCPA) 2013 OutstandingEmerging CPA Award. The awardrecognizes a new CPA that haspassed the CPA Exam within thelast ten years, and/or a young CPA

that is forty years of age or younger, that has made significantcontributions to the Accounting Profession as well as thecommunity at large.

In addition to the requirement that nominees for this awardmust be age forty or younger, and/or have passed the CPAExam within the last ten years, they must be an ASCPAmember in good standing. Nominees must also be a memberof at least one ASCPA committee. Exemplary leadershipqualities and skills must be demonstrated and volunteerservice within the ASCPA, local CPA chapter, or thecommunity is required.

Originally from Paragould, Arkansas, Matt attendedHarding University in Searcy where he was a stand-outaccounting student. Matt graduated summa cum laude fromHarding University in 2006 with a Bachelor of BusinessAdministration degree, and received the “Accounting Studentof the Year” award in both his junior or senior years. Upongraduation, Matt accepted a staff accountant position in the taxdepartment at JPMS Cox, PLLC in Little Rock. He waspromoted to senior accountant after just two years, and thenpromoted to manager after two additional years – muchquicker than the normal progression. In 2011, Matt becamethe first professional at JPMS Cox to receive the credential forAccredited in Business Valuation (ABV) and is currentlyleading the way for the firm into this new market. Matt is

currently serving as Co-chair of the 2013 Arkansas FederalTax Institute. He was also a speaker at the 2012 Federal TaxInstitute, presenting on reporting requirements for foreignincome and assets. In the office, Matt acts as the liaisonbetween upper level management and staff, and is highlyrespected for his vast tax knowledge, positive attitude, andgreat sense of humor,

Outside of accounting, Matt is involved in variouscommunity activities and is an active group leader in hischurch. He has volunteered over the years with church youthgroups, acting as a mentor and leader for various activities andtrips. He has used his professional expertise to assist HoseanInternational Ministries (H.I.M.), with financial and organiza-tional issues. He is involved with Easter Seals of Arkansasand has helped with planning and fundraising for two of theirlarge events: Art & Soul and Taste of the Med.

Matt is a member of the American Institute of CertifiedPublic Accountants (AICPA), a member of AICPA Forensicand Valuation Services Section, a member of ArkansasSociety of Certified Public Accountants, and the ArkansasSociety of CPAs Emerging CPAs committee. He is also amember of Harding University President’s Council.

Matt and his wife Lana have been married for seven years.The couple welcomed their first child, Shelby June, earlier thisyear. Matt is an avid golfer and serves on the membershipcommittee at Pleasant Valley Country Club, and was avolunteer at the 2013 Western Amateur golf tournament atAlotian Club in Roland, Arkansas.

Matt Summitt will formally be recognized as the recipient ofthe 2013 ASCPA Outstanding Emerging CPA Award at theASCPA Annual Convention Awards Banquet, to be heldSeptember 20 at the Winthrop Rockefeller Institute on PetitJean Mountain, in Morrilton, Arkansas.

Matthew D. Summit Selected for 2013 ASCPAOutstanding Emerging CPA Award

Matthew D. Summitt

ASCPA Mentoring ProgramNEEDS YOUR HELP

The ASCPA is pairing young and new CPAs withexperienced, professional CPAs that are willing to pass ontheir expertise to the next generation. Join the efforts to fill thepipeline with knowledgeable, future CPA leaders. Share yourexpertise with someone who is eagerly starting their careerin this profession. Be proud and know that you helped makea difference in someone’s life, their career, and in the futureof the CPA profession.

This program can take as little as 30 minutes a day, weekor month. Be a sounding board and offer words of wisdom toa young professional. The rewards of watching an EmergingCPA grow are priceless. Help us to continue to support theneeds of young and new CPAs. Mentors from each Chapterarea are needed, so volunteer today!

Name:

_____________________________________________Phone:

_____________________________________________Firm:

_____________________________________________

E-mail:

_____________________________________________

All information is completely confidential.Fax to (501) 664-8320, e-mail [email protected] or

call the ASCPA office at (501) 664-8739


10

FINANCIAL LITERACY

Member Makes Two KIDS COUNT Presentations

Katie Bellocchio recently made two Kids Countpresentations on June 3rd at Timber Ridge ElementarySchool in Killeen, Texas. Katie spoke to her daughter’s 4thgrade class and another class too. The children wereengaged and loved hearing about the accounting world andenjoyed receiving their piggy banks. The children asked alot of great questions about jobs within the accountingworld. Special thank you to the teachers, Mrs. RachelRayon and Miss Heather Knox for allowing classroom timefor these presentations.

During the Kids Countvisit, each studentreceives an easy-to-recitepoem about savings, adrawing activity, and apink plastic piggy bank,courtesy of the ASCPA.Each teacher receives arecommended readinglist of books on the topicof money and also a

classroom activity. Each child also receives information totake home to their parent or guardian to help reinforce thesavings lesson.

Please contact Robin at the ASCPA office at (800) 482-8739 in Arkansas, or (501) 664-8739 or [email protected] if you would like to make a visit to a group ofschool students utilizing these materials. Be sure tocomplete and return the Speaker Volunteer formarcpa.org/Content/speaker-volunteer-form.aspx.

“The children asked a lot of great questions,it was a pleasure speaking to them.”

~ Katie Bellocchio

A Free Financial Literacy Webinar360 Degrees of Financial Literacy, in partnership with the AlCPA’s Personal Financial Planning Division, is offering

a free consumer webinar series, “Take Charge: Your Money. Your Life.” The latest seminar features speaker SarahHughes, CPA, and financial planner who discusses how your tax return is the roadmap to your life goals. So don’t fileit and forget it, instead use it.

Sarah explains how you can use your tax return to create a comprehensive financial plan. In this plain English webseminar you will learn:

• Planning steps to take in the new tax environment

• How to ensure your retirement plan delivers

• How to evaluate your investment strategy

• How to protect your assets

• And more ...

This is a free, one-hour seminar.

To view the seminar recording, presentation materials, and a tax return checklist, go to:www.360financialliteracy.org/

If you have any questions, please contact [email protected].


11 ASCPA Newsletter: September, 2013

Joseph M. Rugger, Director ofFinance & Administration for JonesboroProsthetic & Orthotic Lab (JP&O Labs),has been selected as one of only thirty-eight young Certified Public Accountantsto participate in the American Instituteof CPAs (AICPA) 5th annual LeadershipAcademy in Durham, North Carolina thisfall.

Rugger will join an exclusive groupof rising stars in the accountingprofession to learn leadership theoryand strategic planning techniqueswhile developing tools for handlingcomplex management challenges.Leadership Academy participants, allunder age 36, will discuss pressingissues facing CPAs and the accountingprofession with some of the profes-sion’s most inf luential leaders,including AICPA Chairman RichardCaturano, CPA, CGMA, and BarryMelancon, CPA, CGMA, the Institute’spresident and CEO.

“Being selected for the AICPA’sLeadership Academy means being partof an elite group of the best andbrightest young minds in the accountingprofession,” said Caturano.“Theseyoung CPAs are poised to make apositive impact in the profession, andthe training they will receive will servethem well as they take the next steps intheir careers.”

The AICPA selected the thirty-eightattendees of the Leadership Academyfrom more than 120 candidates recom-mended by their employers, state CPAsocieties or both. Candidates sub-mitted resumes which included workhistory, licensure information, profes-sional volunteer activities, communityservice, and awards and honors.

Before selecting the 2013 class, theAICPA reviewed each submission,including a statement provided by thecandidate explaining why participatingin the Leadership Academy would beimportant to them personally.

Joe Rugger, 31, is a native of LittleRock. He is a 2003 graduate of LyonCollege in Batesville and received aMaster’s of Professional Accountingfrom Indiana University in Indianapolisin 2005. Joe returned to Arkansas in2006 to become the Controller atJonesboro Prosthetic & Orthotic Laband was promoted to Director ofFinance & Administration in 2007. Heholds a current CPA license with theState of Arkansas that he received in2006. Joe is active with the ArkansasSociety of CPAs (ASCPA) as amember of the Emerging CPAsCommittee and was named the 2011Outstanding Emerging CPA in Arkansas.He serves on several committees atLyon College including the President’sCouncil and the Strategic PlanningInstitutional Advancement Committee.Joe was recently honored by LyonCollege with the 2013 Patterson DecadeAward.

“We are very proud that Mr. Ruggerhas been selected to participate in thisrare opportunity. For the past thirteenyears that I have known and workedalongside Joe, he has alwaysexhibited a true passion for personaland professional growth and develop-ment – particularly in the areas ofleadership and management. He is astandout among the professionals Ihave encountered and will certainlymake the most of this opportunity”stated Rob A. Yates, CPO, FAAOP,President and CEO - JP&O Prosthetic& Orthotic Laboratory

The American Institute of CPAsLeadership Academy will be held fromSeptember 29 - October 3, 2013 at theWashington Duke Inn, in Durham, NC.Additional information is available at:AlCPA.org/youngcpanetwork.

Contact Emily McGhee, EmergingCPAs Committee staff, [email protected] for more info on applying forthis prestigious event in 2014.

12

LEADERSHIP

Joe Rugger Chosen forAmerican Institute of CPAs

Leadership Academy

Rugger one of only 38 CPAs selected for prestigious event


LEADERSHIP

13

Help Shine the Spotlight on a MemberNominate a CPA

2014 ASCPA AWARDSEach year the Arkansas Society of CPAs conducts an awards program to recognize and honor individual members’

accomplishments in various areas of the accounting profession. The ASCPA is now seeking nominations for the 2014 ASCPAAwards. Your input is needed to help us identify these exemplary leaders who may qualify to receive these awards. Nominationsfor the 2014 awards are accepted from the membership. Award winners are selected from your nominations. Now is youropportunity to recognize your fellow colleagues who serve as outstanding educators, who work in business or industry, andgovernment, and who are active public service volunteers.

Send in your nominations today for the following awards:

DISTINGUISHED ACHIEVEMENT INACCOUNTING EDUCATION AWARD

This award recognizes full-time college accountingeducators distinguished for excellence in teaching and forprominence in the accounting profession. The nominee shouldbe a recently retired, or current accounting educator at a post-secondary educational institution.

Deadline for nominations is December 30, 2013.

OUTSTANDING CPA IN BUSINESS &INDUSTRY AWARD

This award recognizes the achievements of CPAs whowork in business and industry who have worked to blendinformation technology, financial decision making andprogressive management techniques, helping his or herbusiness move forward.

Deadline for nominations is March 30, 2014.

OUTSTANDING CPA INGOVERNMENT AWARD

This award recognizes the achievements of individualCPAs employed in federal, state, or local government.Through this award, the ASCPA recognizes an outstandingCPA who strives to promote the CPA designation as thepremier professional credential for accounting, auditing andfinance professionals in government.


OUTSTANDING EMERGING CPA AWARD

This award recognizes a young CPA that is 40 years of ageor younger, and/or that has passed the CPA Exam within thelast ten years, who has made significant contributions to theaccounting profession, as well as the community at large.Exemplary leadership qualities and skills must bedemonstrated, as well as volunteer service within the ASCPA,local chapter, or community.


PUBLIC SERVICE AWARD

This award recognizes CPAs who have distinguishedthemselves in public service activities at the local, regional,state or national level, and through this service have reflectedcredit upon the CPA profession.


PUBLIC SERVICE AWARD FOR FIRMS

This award recognizes firms for their public servicecontributions on the local, state, or national level, to encouragemore CPA firms to initiate or increase their community serviceactivities, and reinforce the profession’s reputation forcommitment to public good.


2014 AWARD NOMINATION FORM

Name of Award: _________________________________________

Nominee: _________________________________________

Firm or Company of Nominee:_________________________________________

Your Name: _________________________________________

Your Address:_________________________________________

Your Phone Number: _________________________

Please send by the Appropriate Award Deadline to:Arkansas Society of CPAs

11300 Executive Center DriveLittle Rock, AR 72211-4352

Fax: (501) 664-8320

Once we receive the nomination, we will send you acomplete Nomination Packet to list the various

accomplishments of your nominee.


14

MEMBER SERVICES

Staff Spotlight

Emily A. McGhee

Arkansas Society of CPAsExecutive Director Assistant/Membership Marketing ManagerTime In Current Position: Four monthsBirthplace: Indianapolis, INFirst Job Ever: KrogerProfessional / Community Activities: Play the keyboard,guitar, and sing for my churchMarried to Adam McGhee / Two boys - Caleb 5 yrs., Jack 3yrs., & pregnant / One dog, Golden Retriever named Colby Favorite Food: Deviled eggsMy Favorite Author Is: Jane AustenThe Last Book I Read Was: Water for Elephants by Sara GruenFavorite Movie of All Time: Sleepless in SeatleFavorite Television Show: The OfficeDream Vacation: Trip to IrelandGuests At My Fantasy Dinner Party Would Be: JesusThe Best Advice I Ever Received Was: Don’t worry abouttomorrow for tomorrow will worry about itselfYou’ll Never Catch Me Wearing: CrocsMy Pet Peeve Is: Drivers who don’t use a turn signalWhat Would Surprise People About Me: I like comic superheroesWhat I Like Best About My Job: Interacting with Members& creativityGoals for the Society: Improve and grow our social mediaOne Word to Sum Me Up: SweetMy Heroes Are: My husband and my dadWords of Wisdom: “Do what you can, with what you have,where you are” ~ Theodore Roosevelt

ASCPA Members Cut Costson Copier/Printing

Standard Business Systems, Arkansas’ leader insuperior customer service with the latest technology inthe copier and printing industry, offers special pricingand service to ASCPA Members!

As a preferred provider of document hardware andsoftware solutions, SBS offers a full portfolio ofdocument management hardware from trustedtechnology partners Toshiba, Xerox, Lexmark, andFujitsu. These modular systems can be configured toyour specific needs to print, copy, scan, or fax.

For more information or to explore ways to increaseoffice efficiency, increase your bottom line, enhanceyour published image, and increase functionality,contact Douglas Gulley at 501-766-7280, e-mail:[email protected] for a complimentarydocument workflow analysis.

Put Sam’s Club® to Workfor Your Business

ASCPA members can enjoy many benefits availablethrough Sam’s Club Business memberships!

A Sam’s Club Business Membership gives you all ofthe privileges of the regular Advantage membership, withaccess to:• Shop during the early, extended store hours of 7:00

a.m. to 10:00 a.m.• A free card for a spouse or other household member• Warehouse club savings• Click ‘n’ Pull (order online by 5:00 p.m., and have your

items ready for pick up anytime the next day)• Industry-specific merchandise• Apply for Sam’s Discover membership/credit card

To sign up for a Sam’s Club Business membership,ASCPA members should contact Robin Harris at theASCPA office at (501) 664-8739 or [email protected].

2013 Directory ofArkansas CPAs and PAs

www.arkansas.gov/asbpa/pdf/2013_Directory.pdf

EMERGING CPAS CONFERENCEOCTOBER 25, 2013

ASCPA CONFERENCE CENTER

LITTLE ROCK


15 ASCPA Newsletter: September, 2013

Congratulations toJames Downs

of the Arkansas Science and Technology Authority in LittleRock! He was the first Society member to correctlyanswer the August “tech quiz” question onUsing an iPad in Business.www.picpa.org/Content/45585.aspx

CERTIFIED MEMBERS

AMELIA WILDENBORG BARNESBKD, LLPLittle Rock

JAMES EVERETTE DOWNS, JR.AR Science & Technology Authority

Little Rock

ASHLEY LAINE FARRARBeall, Barclay & Company, PLC

Fort Smith

BLAIR ELIZABETH HILLHoganTaylor, LLP

Fayetteville

JUSTIN K. KAVALIRKeith, Miller, Butler,

Schneider & Pawlik, PLLCRogers

SIMON MAKEPEACECommunications Supply

Service AssociationLittle Rock

SHALYN ELIZABETH MARIONErwin & Company, PA

Little Rock

MARK A. TOWERYAllens, Inc.

Siloam Springs

ASSOCIATE MEMBERS

MEGAN A. GRANTHAMErwin & Company, PA

Little Rock

STUDENT MEMBERS

MICHAEL BAILEYUniversity of Central Arkansas

Conway

GIANG NGUYET HAN LEHendrix College

Conway

JUSTIN S. JAMESWebster University

Fayetteville

CHRISTINA STEELEUniversity of Central Arkansas

Conway

HALLYE D. SWYSGOODJohn Brown University

Siloam Springs

NEW MEMBERSWe welcome the following professionals who have been

approved for membership in the Society and look forward totheir participation in ASCPA activities.

CERTIFIED MEMBERS

TRAVIS LEE BOLTONBelmont Management Company

Fort Smith

KEVIN WARD CROWDERThomas & Thomas, LLP

Texarkana, TX

NICKLAUS PHILIP FREYALDENHOVEN(Formerly Student Member)

HoganTaylor, LLPTulsa, OK

KELLY JO MILLWOODAR Division of Legislative Audit

Little Rock

KENNETH D. MULLINAXInternal Revenue Service

Fort Smith

DANIEL B. SEALEHudson, Cisne & Company, LLP

Little Rock

JEANNINE SMILEY WHEELERRockfish Interactive

Rogers

DANA L. WILLSDana Wills, CPA

Conway

MICHAEL SCOTT WILSONUnemployed Temporarily

Bentonville

ASSOCIATE MEMBERS

MICAH FRIDAYThomas & Thomas, LLP

Texarkana, TX

ANGELA MICHELLE GADBERRYL. Cotton Thomas & Company

Little Rock

WHITNEY HOLYThomas & Thomas, LLP

Texarkana, TX

CHRISTINE A. MURPHYEGP, PLLC

Bryant

LEE ANN C. WILSONS. F. Fiser & Company, CPAs

Springdale

STUDENT MEMBERS

BRITTANY L. BIGGERSDeVry University

Chicago

THOMAS JAMES BUSH, IIIUniversity of Arkansas

Little Rock

JASON T. GRANTUniversity of Central Arkansas

Conway

C. F. HORTONUniversity of Arkansas

Little Rock

AMY ELIZABETH HOUSTONUniversity of Central Arkansas

Conway

BLAKE A. LENSINGUniversity of Arkansas

Little Rock

DEBORAH SUE PINCKARDUniversity of Arkansas

Little Rock

TODD RICHARDHendrix College

Conway

PENDING MEMBERSThe following persons have made application for membership

in the ASCPA since the publication of the August Newsletter.Should there be an objection to the admission of these applicants,notice must be submitted to the Society office within thirty days

MEMBERSHIP

16

ASCPA’s members are networking and keepingtheir professional edges sharp on Facebook.

R U IN?

FIFTY-SECOND ANNUALARKANSAS FEDERAL TAX

INSTITUTEDECEMBER 5-6, 2013

EMBASSY SUITES

LITTLE ROCK


17

MEMBERSHIP

MEMBERSON THE MOVE

James McBryde, ot Nabholz Construction Servicesin Little Rock, is among the forty 2012-2013 graduates ofLeadership Arkansas Class VII, an initiative of theArkansas State Chamber of Commerce and AssociatedIndustries of Arkansas, Inc.

Leadership Arkansas is a nine month programdesigned to take a statewide view of the economic andpolitical challenges that face our great state, and isdesigned to promote statewide leadership. LeadershipArkansas offers leadership opportunities that expand theimpact of community leaders across the state. Theprogram, which features seven day-and-a-half sessionsheld in various communities throughout the state, isbased on the belief that individuals can expand theirleadership capacities to make a difference in the state ofArkansas.

Leadership Arkansas graduates include many wellestablished political, business and community leaders.The program has led to alumni members deciding tochange the landscape of our state and their localcommunities by becoming state legislators, citycouncilmen, planning commissioners, etc. LeadershipArkansas now has more than 300 alumni with a programgoal of one participant from each of the 75 counties withinfive years.

**Have you recently changed jobs, earned a newcertificate, been promoted, received special recognition,made a presentation to a civic group, etc? Let the ASCPAknow about it! Send us a note, fax a press release orsimply pick up your phone and give us a call.**

HHey, Gotta Appfor That?

Have a favorite iPhone or iPad app?Text the name of your fav to 601-497-4280 and be entered into an ASCPATech App Contest. A winner will berandomly drawn, tech prize awarded, andall the apps suggested will be publishedin next month’s ASCPA Newsletter.

Congratulations toASCPA CPE Assistant Stephanie Tannerand husband Gary in the birth of their son

Davis Blaine Tanner!!Born August 2, 2013 at 9:31 am,

weighing 6 lbs 14 oz & 19 ¼ inches long.

It’ s aBoy!!!


WEBCAST

FRAUD CONFERENCEOCTOBER 3-4, 2013

ASCPA CONFERENCE CENTERLITTLE ROCK

PEER REVIEW

18

Get Prepared for YourPeer Review

If your firm will have a peer review due in 2014, then youneed to make preparations now to have an effective qualitycontrol system that will lead your firm to receive a peer reviewreport with a Pass rating. Consider attending “Upcoming PeerReview: Is Your Firm Ready?” This course will help get youprepared for your next peer review by learning what can bedone on a daily basis to create a strong quality controlenvironment for your firm; identify the most common, significantdeficiencies that peer reviews uncover and what you can do toprevent them from occurring in your own firm; consider theprocess for selecting the appropriate peer reviewer; anddetermine the right review year-end for your firm. If you havespecialized engagements, such as governmental units, not-for-profit organizations, construction contractors or employeebenefit plans, this course will examine the additional issues thatmight come into play.

You will learn how to create a firm environment that focuseson quality control, understand the basic steps for monitoringand inspections, establish quality control systems based on theQuality Control Standards, and recognize significant recurringengagement deficiencies and how to prevent them. Insummary, this course will teach you how to prepare for yournext peer review, what decisions to make, and how to pulltogether the right information.

Title: “Upcoming Peer Review: Is Your Firm Ready?”

Date: Monday, October 21, 2013

Time: 8:30am - 4:30pm

Location: ASCPA Conference Center, Little Rock

CPE Credit: 8.0 Hours in Accounting, Auditing & Assurance

Instructor: John M. Andres

Fee: $225 ASCPA Members, $325 Non-Members

Early Bird Fee: $195 ASCPA Members, $295 Non-Membersthrough 10/7/2013

AICPA Member Discount: ($30)

2013-2014Peer Review Committee Schedule

September 25, 2013Policy & Planning Meeting

ASCPA Facility

November 20, 2013Phone Conference

January 22, 2014Phone Conference

March 19, 2014Phone Conference

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Local office in Little Rock, Arkansas


Health Care in 2014:A New World

By: Eric T. Johnson

While some aspects of the Patient Protection andAffordable Care Act of 2010 (“ACA”) have already come intoforce, the bulk take effect in 2014 and later years. The healthcare legislation consists of two separate Acts: (1) PatientProtection and Affordable Care Act (March 23, 2010), and (2)Health Care and Education Reconciliation Act of 2010 (March30, 2010). Collectively these two acts are referred to inpopular parlance as “Obamacare,” but here referred to asACA, There are many tax-related provisions although the bulkof the material makes fundamental changes to the PublicHealth Act and other welfare-based programs (Medicare,Medicaid, etc.) It sought to increase the number of individualscovered by health insurance and such insurance must meetcertain minimum standards.

At present only little guidance has been issued by theService and other government departments, but 2013 will bea watershed year for most employers (and employees) inpreparing for the implementation of the health care law,paying attention to the release of the thousands of pages ofregulations anticipated to be issued in the next two years.

The law has several aims, including, lowering health carecoverage costs, providing patient protections with respect toprimary care providers, establishing a minimum level ofcoverage in a health plan, and the creation of exchanges, ahealth insurance marketplace, to which small businesses andindividuals who cannot obtain affordable health insurance cango to obtain insurance, possibly subsidized in whole or in part.While the areas of coverage are now defined as essentialbenefits, the extent of the benefits available are now subjectto four separate tiers -bronze, silver, gold and platinum - withthe lowest (bronze) required to cover at least 60 percent ofprojected medical expenses. ACA also sets a maximumdeductible for employer-sponsored plans.

Employers face a new set of daunting rules (unless theyoperate “grandfathered” plans from March 23, 2010 and later)in 2015 (the Administration and the Service have imposed aone-year delay in scheduled implementation due to thecomplexity of imposing data capture (accounting) systems).

ACA compels certain employers - those having more than 50employees - to choose between providing minimum essentialhealth benefits at the bronze level or higher, or pay the federalgovernment a shared responsibility payment based on thenumber of employees not so covered. If they providecoverage, but it is not affordable, employers will be requiredto make a payment based on the number of employees forwhom offered coverage is unaffordable. To be affordable to aparticular employee, the cost of the coverage to the employeemay not exceed 9.5 percent of the employee’s W-2 wages.Some employers may also be eligible for a partial subsidy ofhealth coverage by a tax credit.

Many employers have determined that in many cases the“fine” is far less expensive than the provision of the requiredbenefits at the required levels and are prepared to dropexisting coverage. Other employers are restructuring theiremployment arrangements to convert “countable” full-timeemployees into “non-countable” part-time employees. Thenew record-keeping and accounting for compliance purposesrepresents new challenges for employers and theirprofessional advisors.

Meanwhile, employers who were legally discriminatingwithout penalty by providing insured-plans must consider twochanges in the law. The first makes the nondiscriminationpenalty more severe: rather than trigger an inclusion of thepremium paid on behalf of a highly compensated employee inthat employee’s income, the employer is subject to a$100/day excise tax for each day the plan discriminates.

Those who are not covered by an employer-sponsoredplan are required to obtain coverage (the so- called “individualmandate” whose constitutionality was upheld by the SupremeCourt in 2012) or, like employers, make a payment to thegovernment. The amount of this “penalty” is fairly low and hastempted low-risk individuals (particularly males in their 20s or30s) to pay it rather than the higher cost of coverage. Someof these individuals may be eligible for government subsidiesif they choose to purchase insurance on a federal or state-partnered exchange.

Eric T. Johnson is a graduate of Princeton University(A.B.), Villanova Law School (J.D.), and New York University(L.L.M (Taxation)). He has practiced law in the tax and estateplanning areas in Philadelphia and its suburbs. Eric hastaught courses at Villanova School of Law Graduate TaxProgram and for the Pennsylvania Bar Institute, and has beenon the faculty of the American College in Bryn Mawr,Pennsylvania. He has developed over 80 courses at SurgentMcCoy as its head writer.

PRACTICE MANAGEMENT

19

SEVENTEENTH ANNUALTECHNOLOGY CONFERENCE

NOVEMBER 7-8, 2013ASCPA CONFERENCE CENTER

LITTLE ROCK


20ASCPA Newsletter: September, 2013

21

STUDENT CAREER FAIR

Find the Best and Brightest!

ASCPA Student Career FairWednesday, September 25, 2013

4:00 p.m. - 6:00 p.m.Clarion Hotel Medical Center

(formerly Hilton)925 South University AvenueLittle Rock, Arkansas 72204

Send your recruiters to scout out the best and brightestaccounting students at this event! Each participating firmand company will be allowed a maximum of fourrepresentatives, and will be supplied a table to share theirmaterials and information about how students can have anexciting career in accounting at their firm or company. Thisevent will be a perfect opportunity for firms and companiesto meet and recruit motivated accounting students.

Post baccalaureate students, as well as junior andsenior level accounting majors at four-year public andprivate colleges and universities are invited to attend.Students will meet and network with participatingrepresentatives and provide their resumes.

This event is free. Your registration will include: Studentattendee list, your firm or company profile listing on theASCPA website as a Career Fair participant, a drapeddisplay table, beverages and light snacks during the event,and participation for up to four representatives from yourfirm or company.

Please return the form below to the ASCPA no later thanSeptember 17, 2013.

ASCPA STUDENT CAREER FAIRWEDNESDAY, SEPTEMBER 25, 2013

______ Yes, Our Firm or Company is interested inparticipating in the Student Career Fair.

Firm/Organization: _______________________________

Contact Person: _________________________________(may be different than representatives attending)

Address: ______________________________________

City: __________________________________________

Contact Phone: _________________________________

Contact E-mail: _________________________________

Website: ______________________________________

Number of Electrical Outlets Required: _______________

Representatives Names Who are Attending:

1. ____________________________________________

2. ____________________________________________

3. ____________________________________________

4. ____________________________________________

Please provide your firm or companies’ profile in500 words or less;

(To be posted on the ASCPA Website for students toreview prior to the event)

______________________________________________

______________________________________________

______________________________________________

______________________________________________

______________________________________________

______________________________________________

______________________________________________

______________________________________________

______________________________________________

_______________________________________________

_____________________________________________

______________________________________________

Please note the cancellation policy:

If a firm or company is unable to attend, they shouldnotify the ASCPA office as soon as possible. The firmor company may then supply the ASCPA with thedisplay materials, handouts, giveaways, etc. that theywish to be made available at the event.

Please return the form no later than September 17, 2013, to:Arkansas Society of CPAs

Attn: Robin Harris11300 Executive Center DriveLittle Rock, AR 72211-4352

Fax (501) 664-8320

For more information, contact:Robin Harris, e-mail [email protected] or

call (501) 664-8739 or 1-800-482-8739 in AR


Register Soon!18th Annual Mac Angel Memorial Golf Tournament

Pleasant Valley Country ClubMonday, September 23, 2013

We realize that some of you have not yet completed your entry and sponsor forms for this year’s tournament becauseof you being typical deadline-driven CPAs. Others probably have been waiting to find that perfect “Ringer” to round outyour foursome. Or, maybe some were just trying to keep your cash invested until the last minute in order to reap morebenefits from those high interest rates you are receiving. Whichever the case, we understand your previous delays. But,as you read this, we are only days away from the event and our various related deadlines.

All team registrations include not only green fees on one of the best private courses in the state, but also range balls,lunch, liquid refreshments, and tournament gifts for each player. There will also be prizes for the longest drive, closest tothe hole, and members of the winning teams. In addition, teams that are Silver Sponsors and above also receive tee boxsignage, newsletter and other recognition for their support. And remember that all net proceeds benefit the ASCPA StudentEducation Fund for scholarships.

Don’t miss this opportunity to enjoy a great round of golf at Pleasant Valley Country Club with your firm members,friends, clients and other business acquaintances. Time is drawing near, so please complete the registration form, registeron-line, or simply call Robin today at (501) 664-8739, and let her know your plans to participate in this year’s ASCPATournament. You can register now (even with a “TBA” as your fourth) and pay by credit card or be billed later!

Please do not hesitate to contact us if you have any questions about the tournament or available Sponsorshipopportunities. We hope to see you on September 23 at Pleasant Valley for this great golf outing!

Don R. Smith John B. Peace(501) 375-2025 (501) [email protected] [email protected]

22

STUDENT EDUCATION FUND


23

STUDENT EDUCATION FUND

18th ANNUAL MAC ANGEL MEMORIAL GOLF TOURNAMENTAll ProceedsBenefitAccountingScholarships!

MAJOR SPONSORSHIP OPPORTUNITIES❏ Platinum Sponsor $2,500 ❏ Gold Sponsor $1,500 ❏ Silver Sponsor $1,000

Includes 4 Person Team, Tee Box Sign, Includes 4 Person Team, Tee Box Sign, Includes 4 Person Team, Tee Box Signand 1/2 Page ad in ASCPA Newsletter, and more*

and more** Additional promotional benefits may be customized for Platinum and Gold levels.

Team Name (for Promotional purposes) ________________________________________________________________Players Names: Phone Number: E-mail:1. ______________________________________________________________________________________________2. ______________________________________________________________________________________________3. ______________________________________________________________________________________________4. ______________________________________________________________________________________________

GOLF COURSE SPONSORSHIP OPPORTUNITIES:❏ Team Only $600 (complete team name and player info above)

❏ Hole $500 ❏ Hole in One $500 ❏ Putt for Dough $500❏ Long Drive $500 ❏ Closest to Pin $500 ❏ Beverage Cart $500

CONTRIBUTING/IN KIND SPONSORSHIP OPPORTUNITIES:❏ Lunch ❏ Beers ❏ Soft Drinks/Waters ❏ Golf Balls ❏ Signage ❏ Other

Preferred Name (for promotional purposes)

Contact Name: ____________________________ Phone _______________ E-mail ___________________________All sponsorship levels include various promotional opportunities for recognition before and after the tournament.

OTHER OPPORTUNITIES FOR SUPPORT AND PARTICIPATION:❏ Individual Registration $200

Player Name: ______________________________ Phone _______________ E-mail ___________________________Individuals will be paired prior to the tournament.

❏ Friend of the Tournament As always, we appreciate any form of support for this event. To donate as a Friend of theTournament $100 minimum (appropriate recognition will be given) or to donate giveaway items for each player, pleasecontact Robin Harris.

All proceeds from this event will benefit the Arkansas Society of CPAs Student Education Fund for accounting scholarships. The ASCPAStudent Education Fund awards scholarships annually to accounting students attending colleges and universities in Arkansas.

Payment Method: ( ) Check ( ) Bill Me ( ) AMEX ( ) VISA ( ) MasterCard

Credit Card Number________________________________________ Expiration Date___________________________Signature ________________________________________________

REGISTRATION DEADLINE: SEPTEMBER 10, 2013Arkansas Society of CPAs, 11300 Executive Center Drive, Little Rock, AR 72211-4352, Fax: 501-664-8320

Or register online: http://www.arcpa.org/Content/golftournament.aspx

FOR MORE INFORMATION CONTACT:Robin Harris Don R. Smith, Co-Chair John B. Peace, Co-Chair

ASCPA Thomas & Thomas, LLP Dover Dixon Horne, PLLC11300 Executive Center Drive 201 East Markham St., Ste. 500 425 West Capitol Ave., Ste. 3700

Little Rock, AR 72211 Little Rock, AR 72201 Little Rock, AR 72201(501) 664-8739 (501) 375-2025 (501) 375-9151

[email protected] [email protected] [email protected]

Monday, September 23, 2013Pleasant Valley Country Club - Little Rock, AR

Registration & Lunch at 11:30 am with Driving Range OpenShotgun start at 1:00 pm


CLASSIFIEDS

24ASCPA Newsletter: September, 2013

JOB HUNTING?Let the ASCPA help you! Place yourresume in the Society resume bank.Upon request, it will be forwarded tofirms & companies looking to hire aCPA or accounting professional. Mailyour resume to the ASCPA, 11300Executive Center Drive, Little Rock,Arkansas 72211-4352.

MANN, HASSON & CO., PA,a West Li t t le Rock CPA Firmspecializing in tax and consulting, hasan immediate opening for a CPA with2 to 6 years experience. No overnighttravel required. This position will beprimarily engaged in tax planning andcompliance. Our Firm offers a varietyof employee benefits and competitivesalaries. Responses will remainconfidential. E-mail resume to [email protected].

AUDIT STAFF POSITIONSBenton based firm seeks qualifiedapplicants for audit staff positions.Minimum quali f ications includeaccounting degree and two or moreyears of experience in auditing,preferably in not-for-profit and govern-mental entities. Strong communicationand computer skills required. Noovernight travel required. Salarycommensurate to experience. E-mailresume to [email protected].

LOCAL CPA FIRM IN EL DORADOis looking for a motivated individual whodesires an equity position. The personwho is the “right fit” will be thatprofessional with excellent technicalskills, articulate and engaging indemeanor, of high character andimpeccable integrity, and possesses amoderate to high level of accounting,attest and income taxation background.Our town is home of the El DoradoPromise, soon to be three publicly tradedcorporations, a Fortune 500 Company,the award winning MusicFest, theBoomtown Classic, the South ArkansasArts Center, the South ArkansasSymphony, the award winning UnionSquare and upcoming Southern TheatreFestival. Send your confidential replyto Evers, Cox & Gober, 451 N.Washington, El Dorado, AR 71730 [email protected].

WE HAVE BUYERS! WE NEED LISTINGS!For Sale: New: Central AR Gross$189k; New: Little Rock Gross $480k.Call or check our website for completelisting information. Ready to sell? We doall the work to make it quick and easy bybringing you serious and qualifiedbuyers! Completely risk-free andconfidential.

Kathy Brents, CPA, CBICell 501.514.4928 • Office 866.260.2793

E-mail:[email protected]

Also visit us atwww.AccountingBizBrokers.com

REGIONS INSURANCESTATE ADMINISTRATOR FOR THEASCPA SPONSORED INSURANCEPLANS CALL VERNON DUTTON FORAN APPOINTMENT TODAY! Telephone501-664-8791; Toll Free 888-272-6656.E-mail: [email protected].

Classified ads are accepted in theASCPA Newsletter at 75 cents perword, minimum of $15.00. Uponrequest, they may be keyed to filenumber and repl ies forwardedunopened to advertiser. ASCPAMembers may place job openingclassified ads in the newsletter at nocharge.

All information concerning the products orservices advertised in this newsletter is providedby the dealer, owner, or agent of the business. TheArkansas Society of Certified Public Accountants(ASCPA) makes no representation as to thevalidity of the information provided by the business,as ASCPA does not check or verify the informationprovided by the business. ASCPA, or its affiliatesis not liable for misinformation, typographical errorsor misprints in the advertisements.

Have Questions, Comments or Concerns for the IRS or DFA?

Complete the Online IRS and DFA QuestionnaireAll ASCPA members are encouraged to submit agenda items, favorable comments, problem areas or constructive

criticism for discussion at the upcoming ASCPA Taxation Committee’s annual liaison meetings with representativesfrom the Internal Revenue Service and the Arkansas Department of Finance and Administration.

To submit your agenda items for discussion at these meetings, complete the online questionnaire that will be e-mailed to all ASCPA members on August 20th. Or to access the online survey directly, go to: www.surveymonkey.com/s/VXLQXBN

Please complete the online questionnaire no later than Tuesday, September 10, 2013.Following the meetings the ASCPA will include an insert in a future newsletter containing responses to the

questionnaires, meeting highlights, important phone numbers and other useful information to assist members with taxquestions and problems.

If you prefer to receive a paper copy of the questionnaire, please contact Robin at the Society office at (501) 664-8739, to have one faxed or mailed to you.

Please assist us by sending your concerns so they may be addressed at these important Liaison Meetingsto be held in November.

September 2013 ASCPA NL

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