Brazos Valley Chapter

CPA News April/May 2013

In this Issue:

  • Chapter News
  • CPE
  • Fred’s Funnies
  • TSCPA News

CHAPTER NEWS

Report of the TSCPA MidYear Board Meeting

by Rodney Horrell

The Texas Society of CPAs (TSCPA) recently held its 2012-2013 Midyear Board meeting. The Legislature is in session, and that meant we were in Austin. Chapter members James Larkin, Lyn Kuciemba, Rodney Horrell, Sandy Brown, Kay Dobbins, and Toni McBee Joyner were in attendance, as well as Executive Director Linda Johnson.

Chapters shared successes and challenges at the Small Chapter Breakfast Meeting and Chapter Coordinating Meeting. Chapter President Rodney Horrell and President-Elect James Larkin also met with peers from across the state to knowledge-share and get up to speed on the happenings in other chapters.

At the Board meeting, updates were provided by TSCPA President Fred Timmons and various TSCPA representatives. On Monday afternoon, BVCPA representatives set off for the Capitol and visited with staff of local representatives Senator Charles Schwertner and House members Kyle Kacal and John Raney. That evening, a Legislative Reception was held at the Sheraton. CPA’s from across the state, including those from your local chapter, let our representatives know that we are ready and willing to assist with any issues of importance to our profession.

We also were given the usual sobering dose of reality at the Board meeting. That is, we talked about what the media has dubbed the “Fiscal Cliff.” I prefer to think of it as the “Fiscal Speed Bump,” as it pales in comparison to the true cliff that is our national debt and our federal government’s unquenched appetite for spending. We discussed the chance of sequester and a government shut-down (both of which are very real possibilities, if not likelihoods). We also discussed the budget situation facing the Texas Legislature. Yes, the rumors are true, they actually have more state funds than they were planning to spend. But don’t get too excited. Between the continuing increase in mandatory Medicare payments and the unwinding of some accounting slights of hand at the end of the last biennium, there won’t be much left over.

For more on the MidYear Board meeting, please visit https://www.tscpa.org/eweb/DynamicPage.aspx?webcode=ABT2012mybSummary

Meet a Member

Jennifer Fox, Chapter Treasurer

jenniferfoxJennifer Fox is the VP of Finance and Quality at DATATRAK, responsible for leading the Company¹s finance, quality and investor relations functions. Ms. Fox has 17 years accounting and finance experience with 14 years industry experience. She previously held positions at DATATRAK including Senior Director of Finance and Regulatory as well as International Director of Quality Assurance. Ms. Fox was also the CFO and VP of Finance and Quality Control for ClickFind, which was acquired by DATATRAK in 2006. Ms. Fox began her career in a variety of finance, accounting and general management positions, including a position with KPMG LLP as Engagement Manager. Ms. Fox earned a Bachelor of Science degree in Economics and a Master of Science degree in Accounting from Texas A&M University. She is also a Chartered Global Management Accountant.

May 4th – Chapter Tailgate and Aggie Baseball Game

Tailgate with your colleagues and families before the Aggie Baseball Game against Missouri. Tailgate begins at noon at the Reed Arena parking lot. The baseball game starts at 2:05pm. Fajitas, fix-ins, and lemonade provided with your rsvp by April 26. (Bring your own beverage otherwise!) Linda Johnson will email or text more exact location details that morning. Donations to Chapter Scholarship fund will be accepted! Please obtain your own Aggie baseball tickets. Online at http://www.12thmanfoundation.com/ticket-center/baseball/pricing.aspx or 979-845-2311. Contact Linda Johnson to rsvp or with questions: Linda@bvcpa.org or 979-690-5776.

Save the Date!! May 7th – Annual Meeting Luncheon & CPE

Brazos Valley Annual Meeting Luncheon & CPE will be held on May 7, 11:30am to 1:30pm, at the Pebble Creek Country Club in College Station. The “Professionals Issues Update” will provide one hour of CPE. Cost is $25 per person if reservations made by Tuesday May 1st; $30 per person if reservations made subsequent to May 1st. Cancellations after May 1st will be invoiced. Our special guest and speaker will be Willy Hornberger, TSPCA Chairman 2013-2014. Make your reservation by contacting Linda Johnson at Linda@bvcpa.org or phone 979-690-5776.

Scholarships Available

As appropriate for CPAs, April 15th is the deadline for applying for a Chapter scholarship. Go to http://bvcpa.org/scholarship for the application and instructions. Or contact Linda Johnson for an application.
The BVCPA established an undergraduate scholarship in the Spring of 2011 for the children of chapter members. The Chapter will award two such $1,000 annual scholarships for 2013-14, with the winners’ names drawn from qualified applicants.
The Chapter also contributes each year to the Texas A&M University Accounting Department to be awarded to two accounting students. The amount was increased last year to $3,000, due to the success of the Scholarship Fundraising Luncheon. We appreciate the sponsors who helped with its success: Archway Advisory Services. LLC; Brewer, Eyeington, Patout & Co. LLP; Citibank, N.A.; City Bank Texas; Ed Slovacek, CPA, PLLC; Ingram Wallis & Co, Inc.; Kay Perrone & Associates, P.C.; Seidel Schroeder & Company; Thompson, Derrig & Craig, P.C.; Tracy B. Stewart, CPA, CFP; and Outback Steakhouse!
Save the Date!! May 7th – Annual Meeting Luncheon & CPE
Brazos Valley Annual Meeting Luncheon & CPE will be held on May 7, 11:30am to 1:30pm, at the Pebble Creek Country Club in College Station. The “Professionals Issues Update” will provide one hour of CPE. Cost is $25 per person if reservations made by Tuesday May 1st; $30 per person if reservations made subsequent to May 1st. Cancellations after May 1st will be invoiced. Our special guest and speaker will be Willy Hornberger, TSPCA Chairman 2013-2014. Make your reservation by contacting Linda Johnson at Linda@bvcpa.org or phone 979-690-5776.

Chapter Member’s Passing

Our condolences go out to the family of Guy E. Huffman, CPA, of Caldwell. Guy died on March 6, 2013. Guy had been a faithful member of the Brazos Valley Chapter for many years.

Chapter CPE

Ethics with Dr. Charles Stanley
May 29, 2013 8:00 – noon (no admittance after 8:00 a.m., per Texas State Board of Public Accountancy rules) 4 CPE credit hours
Brazos Center, Assembly III, 3232 Briarcrest Drive, Bryan, TX
$120 member $150 non-member
Program Objectives:

  • Meet the ethics course requirements as established by the Texas State Board of Public Accountancy
  • Explain what ethics are and why the accounting professional needs ethics
  • Identify the ethical responsibilities of an accountant
  • Describe the accountant’s priority of duty and loyalty
  • Define fiduciary relationship and stakeholders
  • Determine what a CPA’s primary responsibilities are to clients
  • Explain the basis for moral reasoning
  • Look at some different reasoning methods
  • Discuss the importance and relevance of effective codes of conduct
  • Look at a basic approach to ethical decision-making and looking at a case for illustration
  • Discuss the Texas Rules of Professional Conduct with emphasis on independence, integrity, and objectivity
  • Look at the other Texas Rules
  • Discuss the process of what happens when a CPA is accused of violating the Texas Rules

Prerequisites-None
Experience level-None
Advance preparation-None
Teaching method(s)-Lecture, discussion and illustration of actual case situations

Auditing and Accounting with David Holt
July 29 & 30, 2013 Brazos Center
Maximum 16 CPE credit hours
8-hour and 2 @ 4-hour; 8-hour $225 member and $285 non-member; 4 hour $130 member/ $170 non-member each half day, or $225 member/ $285 non-member full day.

Further details and objectives will be published at a later date
Prerequisites-None
Experience level-None
Advance preparation-None
Teaching method(s)-Lecture, discussion and illustration of actual case situations

TSCPA News

Nominate a Member for a TSCPA Award
Do you know of a TSCPA member who has exhibited a strong commitment to the accounting profession? Does someone in your chapter make substantial service contributions to your community? Is the next Young CPA of the Year in your hometown?
Consider nominating a member for one of TSCPA’s service awards. Categories include Meritorious Service to the Accounting Profession in Texas, Distinguished Public Service, Honorary Fellow, Outstanding TSCPA Committee Chairman, Young CPA of the Year, and Honorary Member. Get details through the TSCPA website at https://www.tscpa.org/eweb/DynamicPage.aspx?webcode=ABTawards or contact Melinda Bentley. (E-mail mbentley@tscpa.net; phone 800-428-0272 x 279 or 972-687-8579.) The deadline for nominations is April 26.

TSCPA Financial Literacy Social Media Outreach Day
People continue to look for ways to successfully sustain their personal finances. As shown by the traffic to http://www.valueyourmoney.org/, the public is turning to TSCPA for help. The Society is leveraging the power of social networking to reach out to as many people as possible with its annual Financial Literacy Social Media Outreach Day on April 30, to spread the word about ValueYourMoney.org’s free information and resources, and Texas CPAs’ role in financial literacy. Last year, TSCPA reached more than 50,000 people with its financial literacy message. Whether it’s through Facebook, LinkedIn, Twitter, or e-mail, TSCPA is encouraging its members to promote the importance of smart saving and spending to friends, connections and followers on that day. Watch for more details in the coming weeks!

Protecting Your Investment
Achieving the CPA credential involved tremendous investments of your time, sweat and money, but it’s at risk every day during the Texas legislative session when legislators make decisions about your license, your clients and the companies you work for. Like any investment, it needs the protection of an investment manager – and that’s what CPA-PAC does. Your PAC donation invests in CPA-friendly candidates, and the PAC manages that donation so the profession invests as one. It’s a business decision like any other investment. Protect the investment you made in yourself by donating to the PAC today. You can do so directly or as an add-on to your TSCPA dues payment.

Business and Industry Center Keeps You In the Know
Are you looking for a way to stay up to date with the latest industry news or to keep in contact with other business and industry CPAs? If so, TSCPA has the perfect tool for you: the Business and Industry Center under the Resource Center tab on the TSCPA website. There you will find specialized neighborhoods, social networking, member profiles, and everything else in between. For more details, go to https://www.tscpa.org/eweb/DynamicPage.aspx?WebCode=BI

Depression Can Be Helped
Sad and tired all the time? Feel the pressures of your job are crushing you? It could be more than the winter blahs; you might be suffering from depression. The TSCPA Accountants Confidential Assistance Network (ACAN) is there for you. Phone 866-766-ACAN. We’re here to help.

Fred’s Funnies

Hardware Store Confusion
There was a bit of confusion at Ace Hardware this morning.
 
When I was ready to pay for my purchases of gun powder and bullets, the cashier said, “Strip down, facing me.”
Making a mental note to complain about the gun registry people running amok, I did just as she had instructed.
 
When the hysterical shrieking and alarms finally subsided, I found out that she was referring to my credit card.
 
I have been asked to shop elsewhere in the future.
 
They need to make their instructions to us seniors a little clearer!

Brazos Valley Chapter TSCPA

c/o Linda Johnson
4572 Sandpiper Cove
College Station, TX 77845-9339