JanFeb 2012 News
In this Issue:
- Chapter News
- CPE
- Fred’s Funnies
- Job Opportunities
- TSCPA News
CHAPTER NEWS
Bill Rankin appointed by Governor Perry
Governor Rick Perry has named our chapter member, W.J. “Bill” Rankin of Brenham as a new director on the board of the Brazos River Authority for a term to expire February 1, 2015.. Bill is the chief financial officer for the Blue Bell Creameries. He is also a member of the AICPA. He is a board member and past president of the Boys and Girls Club of Washington County, Brenham Noon Lions Club and Washington County Texas A&M Club, and president of Abiding Word Lutheran Church of Brenham. He is also past president and a past board member of the Brenham Independent School District, and a past chair and past board member of Lutheran Social Services of the South. Bill served in the U.S. Air Force. He received a bachelor’s degree from Texas A&M University and a MBA from Sul Ross State University.
The Brazos River Authority is the oldest river authority in Texas. The Authority built, owns and operates three reservoirs (Lakes Possum Kingdom, Granberry and Limestone). In addition to these water supply reservoirs, the Authority contracts with the Corps of Engineers for the water supply storage space at eight federal multi-purpose flood control and water conservation reservoirs.
Attend the TSCPA Mid Year Board Meeting in College Station
The TSCPA Midyear Board of Directors Meeting will be held on Friday & Saturday, January 20-21, 2012 at the Hilton Hotel & Conference Center in College Station. All TSCPA Members are welcome to attend. Our own Dr. James Flagg will be speaking on Friday afternoon, on behalf of the Texas State Board of Public Accountancy. This is a great chance to find out more about your State Society. The meeting notice and registration form are available on TSCPA web site: http://www.tscpa.org/Content/AboutTSCPA/Leadership/Meetings/Calendar/MidyearBoardMeeting.aspx Contact Linda Johnson if you have any questions.
Chapter President-elect speaks in Missouri
Our Chapter President-elect, Rodney Horrell, recently spoke to accounting students in Missouri. Here is his report.
On Friday, September 9th, I returned to my alma mater, Southeast Missouri State University in Cape Girardeau, Missouri, and spoke to sophomore and senior accounting students about the accounting profession and the importance of the CPA license. Topics covered included:
- Comparison of working in public accounting/Big 4 (Deloitte), private sector/publicly traded (AT&T), and not-for-profit (Texas A&M)
- Interview suggestions
- Relevance of university-level accounting classes in my current job
- Transitioning from student to employee
- Character traits that have been most helpful in my career
- Daily life as an accountant in the “real world”
- What employers are looking for in university graduates
Chapter Officers Ballot Coming Soon
Please watch your email inbox the first week of January for your Chapter Officers/Board members’ ballot. When you receive it, please vote and return your vote by January 16, 2012.
Chapter Scholarship Luncheon a Big Success
The inaugural Scholarship Luncheon was successful in raising funds for additional student scholarships. Thanks to the sponsors and everyone who attended, we raised over $3,000.
Due to its success, the chapter will again be offering one or more $500 scholarships to a Chapter member’s child for undergraduate study. Contact Linda Johnson to obtain an application.
Chapter CPE
Federal Income Tax Update – 8 hours CPE credit
Instructor: Steven J. Tillinger, CPA
January 10, 2012 >>> 8:30 – 4:30 >>> lunch provided
College Station Conference Center, 1300 George Bush Drive, College Station
$225/member and member’s non-CPA staff; $300 non-member
Whether you are a generalist or a tax specialist, you will take away valuable information and insights from this eight-hour program. The course will bring you up-to-date on current issues in federal income taxation affecting individuals and small business owners with emphasis on comprehensive coverage and analysis of 2011 tax law; analysis, updates and new developments of 2010 and earlier tax law; important court cases; Treasury income tax regulations; and IRS revenue rulings and procedures.
Addresses the Hot Topics of 2011
*MAJOR DEVELOPMENT – The Debt Ceiling Debate. How your taxes will be affected. Steve will discuss the tax implications of this legislation and what you need to know. Understand Tax Expenditures and Baseline Budgeting. He says to be prepared for a rocky road. Fasten your seat belts!!!
*MAJOR DEVELOPMENT – Limited liability interests subject to self-employment taxes!!! This will affect some of your clients. Also. New information on E-Filing. New information on regulating Tax Return Preparers. What does it all mean? Get the details here.
*2011 TAX LAW – AMERICA INVENTS ACT – the most sweeping change to patent law in a generation, and it addresses one of Steve’s Developing Hot issues – Tax Strategy Patents.
*2011 TAX LAW – BUDGET CONTROL ACT
*2011 TAX LAW – COMPREHENSIVE 1099 TAXPAYER PROTECTION ACT – the repeal of certain 2010 tax law provisions.
*2010 TAX LAW UPDATE – TAX RELIEF ACT – extension of temporary provisions, cost recovery provisions, estate tax relief and more!
*2010 TAX LAW UPDATE – THE SMALL BUSINESS JOBS ACT – expanded Roth accounts for individuals and major tax relief for all businesses.
*2010 TAX LAW UPDATE– HIRING INCENTIVES TO RESTORE EMPLOYMENT ACT – updated information on the significant changes on how individuals report foreign financial assets.
*PLANNING — Uncertainty Rules!!! How Statutory PayGo and the Tax Gap affect temporary provisions, the so-called Tax Extenders. Are higher taxes ahead? Is there a VAT in our future? Tax planning is more important than ever! Are you ready?
*IMPORTANT UPDATES AND NEW DEVELOPMENTS — covering 2010 and earlier tax law.
*IMPORTANT — court cases; Treasury income tax regulations; and IRS revenue rulings and procedures.
*NEW DEVELOPMENTS — affecting partnerships and LLCs, C and S corporations.
*OF CONTINUING INTEREST — AMT, Estate Tax issues and more. . .
No prerequisites or advance study required. Appropriate for all levels of experience. Lecture with group interaction.
To register, contact Linda Johnson at 979-690-5776 or Linda@bvcpa.org
May 10, 2012 from 8am – 12pm we will have a four hour ethics course with Baylor University professor, Charles Stanley.
July 10– 11, 2012 we will have a two-day seminar with Dr. David Holt. July 10 th will be a general audit and accounting update. July 11th will be split between non-profit and governmental.
CPE offered by City Bank
City Bank will sponsor a Technology Showcase (free) on February 2, 2012, from 3:00-5:00. City Bank is pleased to provide two class-room styled seminars focused on assisting small businesses to run a more efficient and effective business. The following is a brief description of the two seminars:
- What Makes a Criminal…a Criminal: Protect your business by better understanding the thought process of a financial criminal.
- Workplace Personalities: Utilizing the DISC personality test to see why and how employees react to different situations in the workplace.
City Bank has registered with the Texas State Board of Public Accountancy as a CPE sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE program.
The objective of these classes is to further educate our customers of potential areas of fraud and better understand the behavior patterns of others. There are no prerequisites for these seminars, and the seminars are considered introductory. No advanced preparation is required. We recommend two (2) credit hours total for attending both sessions. Contact Janice Zavodny for more information [JZavodny@citybanktexas.com]
Fred’s Funnies
Remember this if installing a tech update over the holidays
Dear Technical Support,
Last year I upgraded from Boyfriend 5.0 to Husband 1.0 & noticed a distinct slowdown in overall system performance, particularly in the flower & jewelry applications, which worked flawlessly in Boyfriend 5.0.
In addition, Husband 1.0 uninstalled many other valuable programs, such as Romance 9.5 and Personal Attention 6.5, and then installed undesirable programs such as NBA 5.0, NFL 3.0 and Golf Clubs 4.1.
Please note that I have tried running Nagging 5.3 to fix the problem, but to no avail. What can I do?
Signed, Desperate
Dear Desperate,
First remember, Boyfriend 5.0 is an Entertainment Package, while Husband 1.0 is an operating system.
Please enter command: ithoughtyoulovedme.html, try to download Tears 6.2, and do not forget to install the Guilt 3.0 update. If those applications work as designed, Husband 1.0 should then automatically run the applications Jewelry 2.0 and Flowers 3.5.
However, remember overuse of the above application can cause Husband 1.0 to default to Grumpy Silence 2.5, Happy Hour 7.0, or Beer 6.1.
Please note that Beer 6.1 is a very bad program that will download the Offensive Behavior and Snoring Loudly Beta.
Whatever you do, DO NOT under any circumstances install Mother-In-Law 1.0 (it runs a virus in background that will eventually seize control of all your system resources.)
In summary, Husband 1.0 is a great program, but it does have limited memory and can’t learn new applications quickly. You might consider buying additional software to improve memory and performance. We recommend you try Cooking 3.0 and Hot Lingerie 7.7.
Good Luck! Tech Support
JOB OPPORTUNITIES:
- The Adam Corporation/Group Senior Accountant
- Kay Perrone & Associates, PC Senior Accountant
See detail on Chapter web site at http://bvcpa.org/job-opportunities/
FROM TSCPA
TSCPA: Connecting. Protecting. Advancing.
Year-Round Recruitment and Retention Campaign
Do you know a CPA who would benefit from the resources available from TSCPA? Help them join the Texas Society of CPAs. Whether they’re in Public Practice, Business and Industry, Education, Government, or just starting out on their own, TSCPA offers the resources and support that Texas CPAs need to succeed.
Every individual who joins TSCPA lends another voice and vital support to an organization whose overriding principle is connecting one CPA to another, and connecting CPAs as a whole.
To make it easier for current members to reach out to those who haven’t joined yet, this recruitment campaign will continue throughout the fiscal year.
Want to invite a CPA, non-CPA employee, candidate, student, or other affiliate to join us? Start recruiting today!
Send this link to a prospective member: http://www.tscpa.org/content/general/Join_TSCPA.aspx.
For more information about the campaign, e-mail Catherine Raffetto craffetto@tscpa.net; phone 800-428-0272 ext. 216 or 972-687-8516.
Questions about membership categories, dues, or benefits can be directed to Member Services (e-mail membership@tscpa.net; phone 800-428-0272 ext. 260 or 972-687-8560).
To learn more about recruiting activities at your chapter, contact your chapter office. (Info at: http://www.tscpa.org/Content/chapters.aspx.)
Build Your Network
You can build a network of other CPAs from around the state by serving on a TSCPA committee. Dec. 9 is the deadline to volunteer for the 2012-2013 service year. Study the list of available committees in the members-only Volunteer community http://www.tscpa.org/resource/membercommunities/volunteer/index.asp
http://www.tscpa.org/Content/resource/membercommunities/volunteer.aspx, accessible through the Resources section of the TSCPA website (tscpa.org). Then click the Volunteer Today link to sign up.
Making the Move from Public Practice to Business & Industry
Many CPAs decide to make the switch from public accounting to business and industry. If you’re considering this change in your career, TSCPA has resources available to assist you in the B&I Center on the website. Members who made the switch in the last five years were surveyed to gauge their experience, and we’re bringing that information to you. TSCPA offers tools, advice from members and other resources to help you determine if it’s the right move. You can also read about the experiences of other CPAs who made the transition.
Log in as a member to view the guide now: http://www.tscpa.org/Content/51065.aspx
Financial Literacy & Speaking
Do you enjoy speaking about personal finance and small business topics? If so, sign up for TSCPA’s speakers bureau. TSCPA is looking for CPAs to speak at community and civic programs and to the media. There are talking points, speeches and PowerPoint presentations to make each speaking opportunity as easy as possible. The speakers bureau is one way for CPAs to become involved in TSCPA’s ongoing 360 Degrees of Financial Literacy effort. To volunteer, e-mail Avery Roth aroth@tscpa.net; phone 800-428-0272 ext. 688 or 972-687-8688.)
You Can Educate Consumers about IRS Registered Tax Preparer Program
AICPA has tools available to address the potential confusion in the marketplace created by the new IRS registered tax preparer program. The goal is to help consumers understand that CPAs are the most qualified tax preparers and offer so much more than a non-CPA tax preparer. Education and promotion are needed to overcome any misperceptions and differentiate CPAs from other tax preparers.
Log in as a TSCPA member and learn more: http://www.tscpa.org/Content/52088.aspx
Industry Blog – Not Just for B&I Members
TSCPA’s newest blog is Industry Issues, written by a member of TSCPA’s Business & Industry committee. Each Monday, Bill Schneider, CPA-Dallas, shares his thoughts on critical issues and opportunities facing the profession. Stop by www.industry-issues.com and get to know Bill, and join the conversation about topics relevant to a variety of CPAs.
Outstanding Accounting Educator Awards
TSCPA honored top Texas accounting professors with the organization’s 2011 Outstanding Accounting Educator Awards. Recipients are:
Glenn McQueary, CPA – Houston Community College
Barbara Scofield, CPA – University of Texas of the Permian Basin
Wayne Shaw, CPA – SMU
Lauran Schmid, CPA – University of Texas at Brownsville
At a ceremony held during the TSCPA Accounting Education Conference, the winners each received a $500 award provided by the TSCPA Accounting Education Foundation, as well as a plaque for their office.
Criteria for judging include instructional innovation, student motivation and learning opportunities, professional and student accounting organization involvement, research, and publications.
Outstanding Accounting Educators 2012
Deadline: March 1
Educators teach, inspire, mentor, and encourage their students. Again this year, TSCPA will recognize the state’s top accounting educators for classroom excellence and contributions to the accounting profession with its Outstanding Accounting Educator Awards. If you have an admired colleague or favorite professor, nominate him or her for this prestigious TSCPA award. Winners will receive $500 and a plaque at the Accounting Education Conference in the autumn. Award nominations must be submitted by March 1.
The nomination form is located at http://www.tscpa.org/Content/Files/pdf/Students/AccountingEducatorAwardInfo2012.pdf.
For more information, e-mail Donna Fritz at dfritz@tscpa.net or phone 800-428-0272 x 201 / 972-687-8501.
Depression Knows No Season
“This is supposed to be a joyous time of year, yet I feel angry one minute and plunged into despair the next. What’s wrong with me?”
You might be suffering from depression. ACAN, the TSCPA Accountants Confidential Assistance Network, offers confidential assistance. Call us at 866-766-ACAN. All we want to do is help. All you need to do is call!
Financial Literacy & Your Workplace
The New Year is a great time to bring TSCPA’s free workplace financial literacy program into your office. ValueYourMoney.org helps you educate non-CPA employees on money matters via downloadable materials like newsletter articles, flyers for bulletin boards, table tents for break rooms, and paycheck inserts. Check out the newest resources on budgeting and preparing financially for a disaster at http://www.valueyourmoney.org/.
