CPA IN Perspective Spring 2016

Deliver Value.Respect the Public Interest.®

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The Warfor TalentCPAs come from both traditional and nontraditional paths

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1SPRING 2016

MEMBERS

Chair’s Perspective 2Your Trusted Network 3Member Spotlight 4New Members 5Day in the Life 7

THE CPA PROFESSION

Successful Exam Candidates 10Professional Development Tools & Resources 12Did You Know? 15

THE SOCIETY

Advocating for Members 20Upholding Integrity 24Student Syllabus 26Learning Survey 28The Smoke Detector 44

FEATURES

Joint Venture 30The War for Talent 32CPA Celebration 36Mentoring Programs 40Read It Online 43

ContentsC PA I N PER S PECT I V ES PR I N G 2016 | V. 13 - N O. 2

WATCH Search our CPA Day in the Life backstories at youtube.com/incpas

READSee the entire issue online incpas.org/digitaledition

CONNECT CPA Center of Excellence® Online Community: cpacoe.incpas.orgOnline

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PUBL ICAT ION MONTHS: January, May, August and November

CPA IN Perspective is a publication of the Indiana CPA Society and is published by INCPAS. The Society does not assume responsibility for statements therein, nor does publication of advertisements endorse or authenticate products or service. The editor reserves the right to accept or decline any material based on space availability or appropriateness of content. Reproduction or use of editorial or graphic content without permission is prohibited.

Indiana CPA Socie t y 8250 Woodfield Crossing Blvd., #100 P.O. Box 40069 Indianapolis, IN 46240

phone: (317) 726-5000 fax: (317) 726-5005 toll free: 1-800-272-2054 email: [email protected] web: incpas.org

© 2016 Indiana CPA Society. All Rights Reserved.

CPA IN PERSPECTIVE

PRES IDENT & CEO: Gary M. Bolinger, CAE

EDITOR-IN-CHIEF/ ADVERTISING INFORMATION: Dave Shatkowski

MANAGING EDITOR: Stephanie Parton, CAE

CONTRIBUTING WRITERS: Allison Paul, Elise May

CREATIVE SERVICES ASSOCIATE:Allison Estep

BOARD OF DIRECTORS

OFF ICERS:Steven L. Beardsley, CPA, CVA, Chair John D. Sauder, CPA, CGMA, Chair-Elect Lorita K. Bill, CPA, CGMA, Vice ChairRoger A. Booth, CPA, CGMA, Vice Chair Douglas A. York, CPA, CGMA, Vice Chair

DIRECTORS:Tony T. Bultinck, CPARichard W. Campbell, CPA, CVA, CGMAJennifer R. Clutter, CPA, CGMA Shannon E. Kane, CPA, CGMA Jennifer A. Knecht, CPARebekah S. Payne, CPAErland C. Porter, CPA Nicklas S. Talarico, CPA, CGMAThomas D. Wadelton CPA, CGMA Robert A. Woods, CPA, CGMA

PUBL IC MEMBERS:Benjamin CampbellMcKenzie Scott Lewis

CPA IN Perspective2

WELL, THIS IS MY LAST COLUMN IN THIS SPACE, so forgive me if I’m a little self-indulgent. I’m going to reminisce about my experience in the profession and with INCPAS, and hopefully pass on a little bit of meaningful per-spective to the younger members along with some nostalgia to my fellow “experienced” colleagues.

I have been reflecting on the changes in what we do as CPAs since I started in the profession in 1979. When I started as a staff accountant, many of our clients engaged us to prepare and compile monthly financial statements. We hand posted summarized information from 13-column paper or from “one-write” systems to a manual general ledger, footed the ledgers, cut and pasted (literally) the information, and sent it to the typing pool for the first draft. At year-end we would then assemble blank tax forms, head them up and manually prepare the tax return. On our audits we did basic “walkthroughs” for our compliance section to get a basic understanding of the system, and then we beat the heck out of the balance sheet for our substantive testing. If the balance sheet was correct, the income statement must be OK in total, so we did a few analytical tests for reasonableness and away we went.

Since then, our profession has been fundamentally transformed. The market no longer accepts our premise that an audit is not designed to detect fraud, and technology has freed us of the burdensome and mundane tedium that defined my early career. We have evolved into a profession that provides services to every aspect that business would expect from their most trusted business advisor.

But as I have reflected on these revolutionary changes, I started thinking about how things haven’t changed. I thought back to my days in college when I was drawn to this profes-sion. I have to admit that I was attracted immediately to the magic of Pacioli’s system of double entry bookkeeping. But a much deeper draw was even more compelling. Think back to what brought you here, whether it was over 40 years ago like me, or 40 weeks ago as you finished your formal training. As for me, and I imagine for most of you as well, it was the core values of the CPA.

The work, the systems, and the technology have changed, but the core values of the profession have remained. Our profession has always been driven to achieve integrity, objectivity, competence and a commitment to excellence.

Throughout my career, CPAs have been ranked as one of the highest rated professions for trustworthiness. This has been the bedrock of the CPA from the start, and I dare say that it always will be. So while the daily tasks have changed, we are all drawn together by our common commitment to these values.

The other constant for me through my career was the Soci-ety. As a new staff member in 1979, you could not be a mem-ber until you obtained your CPA license. Once we received our licenses, we had as much pride in that framed Society certificate that we hung on our wall as we did in our framed license. The Society has always been my professional home. Early on it provided interaction with other CPAs, along with the obligatory CPE. When I found myself in need of help in starting a new firm, a phone call to Gary Bolinger resulted in the Society arranging for a full day of meetings at the Society offices to help me get my business off the ground.

Later I got involved in the leadership of the Society and I have had the pleasure of meeting and working with some of the most committed and inspiring people I know. I have formed friendships with several of these people that will last a lifetime. We have a staff that is truly outstanding with their primary goal to serve you the members. If you are not utiliz-ing them, you are missing out.

Similar to the metamorphosis that I have observed in the profession, the Society has undergone transformation. The social aspect has evolved from the regional chapters to the CPA Center of Excellence®. And similar to the profession, much has changed. But the values and mission of the Society have remained unchanged: a fundamental commitment to enhancing the professional success of our members.

It has been a privilege to serve as chair this year. My board has been engaged and energetic in representing and promot-ing the profession and the Society. There has been healthy debate and positive collaboration. I thank each of them for enriching my experience.

Yes, it has been a long strange trip for me. There have been a few regrets but then again too few to mention. We are privileged to be in the profession that we have all chosen. My journey has left some marks. But, as my guiding philosopher Jimmy Buffett said in one of his songs, “Wrinkles only go where the smiles have been.”

Happy Trails. [email protected]

Some Things Change and Some Things Stay the SameBy Steven L. Beardsley, CPA, CVA

Chair’s PerspectiveMEMBERS

3SPRING 2016

Melvin Chastain passed away in October 2015.

William Fletcher passed away in October 2015.

Victor Rammelsberg, CPA passed away in August.

Bernard “Bernie” Shepard Jr. passed away in February.

Shepard Jr.

Rammelsberg

Your Trusted NetworkAPPOINTMENTS

Jordan Hesters and Jeff Jorgonski, staff accountants, Kruggel Lawton & Company, LLC, South Bend. Paula Kercher, CPA, staff accountant, Kruggel Lawton & Company, LLC, Elkhart.

Kristi Mason, financial statements, Tilson HR, Greenwood.

John Minnich, CPA, CGMA, MAcct, chief financial officer, Concordia Lutheran High School.

Kristy Spence, staff accountant, Whitinger & Co., Muncie.

Nicholas Wallace, CPA, CGMA, director, BKD, LLP, Indianapolis and Bloomington.

PROMOTIONS

Kyle Anderson, CPA, Bryan Fender, CPA, Danny House, CPA, Amberly Marshall, CPA, Dan Wilcox, CPA, senior accountants; Alicia Daniel, CPA, Ting Gan, CPA, Heath Riley, CPA, supervisors; Caleb Bullock, CPA, CGMA, Lindy Orr, CPA, Scott Sutton, CPA, Brandon Walters, CPA, CGMA, managers; Cynthia Bay, CPA, CGMA, Lou Castellani, CPA, Toni King, CPA, Andrea Riffey, CPA, senior managers,

Somerset CPAs and Advisors, Indianapolis.

Emily Balbach, CPA, Andrew Quinnette, CPA, senior associate IIs; Kyle Fessler, CPA, senior associate; Justin Proctor senior consultant II, BKD LLP, Indianapolis.

Matt Bishop, CPA, Brett Breedlove, CPA, Nate Philips, CPA, directors – audit and assurance services group, Don Boezeman, CPA, Jason Miller, CPA, Jason Patch, CPA, partners, Katz Sapper & Miller, Indianapolis.

Joseph Edwards, CPA, CVA, Joey O’Connor, CPA, senior accountants; Kristie Lowe, CPA, CGMA, manager, Estep-Doctor & Company, Muncie.

Eric Foist, staff accountant; James Leveille, supervisor; Daniel Rogers, CPA, Christopher Wright, CPA, Diane Yerges, CPA, managers; Brian Thompson, CPA, Derek Thieme, CPA, senior accountants, Bradley Associates, Inc., Indianapolis.

Jered Fuquay, CPA, director, Alerding CPA Group, Indianapolis.

Jennifer Grubb, CPA, Kruggel Lawton & Company, LLC, South Bend. Patrick Lee, CPA, senior manager, Kruggel Lawton & Company, LLC, Elkhart.

Michael Mehl, CPA, senior manager, BKD, LLP, Indianapolis.

Nick Wallpe, CPA, CGMA, principal owner, RBSK Partners PC, Greensburg.

MEMBER NEWS

Clark Millman, CPA, CGMA, CISA, Bindley Capital Partners, LLC, Indianapolis, was presented with the highest honor for distinguished service - the Silver Beaver Award – by the Crossroads of America Council, Boy Scouts of America.

William “Bill” Sharkey, CPA, JD, PricewaterhouseCoopers, LLP, Indianapolis, won a 2016 College Mentors’ Inspire Award for his work with the INCPAS Scholars.

Kent Williams, CPA, CGMA, Indiana Wesleyan University, Indianapolis, and the DeVoe Division of Business Accounting program received the Demonstrated Student Learning Success award.

FIRM NEWS

McGuire Sponsel, LLC, announced a strategic alliance with Energy Impact to focus on combining McGuire Sponsel’s tax and consulting service with Energy Impact’s utility, engineering and auditing expertise.

Your Trusted NetworkMEMBERS

Wallace

Kercher

Minnich

HestersBishop

Riffey

Bay Castellani

WallpeLee Mehl

Fuquay

Millman

Bullock

Lowe

Edwards

O’Connor

Grubb King

IN MEMORIAM

CPA IN Perspective 4

Member SpotlightMEMBERS

Next Level CPA Group, PC

What keeps you up at night? My kids - if they aren’t home before I go to bed, I don’t sleep well.

Would you like to be featured as the next Member Spotlight in CPA IN Perspective? Email INCPAS Director – Marketing Communications Stephanie Parton, CAE at [email protected].

KELLY A. SPAULDING, CPA

What made you decide to become a CPA? I was majoring in business management and my accounting professor advised me of the versatility of an accounting degree with a CPA designation. I changed my major and am still grateful for his advice!

What advice would you give to someone just starting out in the profession? There are so many opportunities for CPAs - look around until you find a job that you love and people that you enjoy working with. If you dread Mondays, there’s a problem.

What’s the best thing you’ve read recently? My book club just finished “What Alice Forgot” by Liane Moriarty.

How do you unwind after a busy day at the office? Running is my therapy. I get up and out the door early to make sure it happens. I ran two marathons and a 5k last year.

How do you think the profession will be different in five years? The focus will continue to move more toward strategic planning rather than compliance work.

What’s your favorite app and why? Fitbit. It helps me track my steps, calories, and water - and also provides a bit of family competition!

What’s on your desk right now? Two screens, a scanner, phone, 10-key, and the current project I’m working on. And coffee.

5SPRING 2016

INCPAS welcomes new and returning members from November 1-December 31, 2015.Welcome New Members

AFFILIATE - BUSINESS PROFESSIONAL

Michael J. Rusnak, Harrison & Moberly, LLP

AFFILIATE - NON-CPA ACCOUNTINGStephen J. Alesia, Force Construction Co, Inc.Debbie A. Buschkoetter, Brammer & Yeend

Prof CorpMelissa S. Davis, VonLehman CPA & Advisory

FirmSarah Redmond, Nysewander, Geans & Stucky,

LLCKristin L. Reeves, Reed & Company, PCDeborah L. Spall, BKD, LLP

AFFILIATE - PARAPROFESSIONALEvelyn Gil, Eli Lilly & Company

ASSOCIATEMark C. Heine, EYBryan L. Mier, Blue & Co., LLCJason Pratt, EYJulie R. Stout, Reed & Company, PCDaniel J. Tritch, Katz, Sapper & Miller, LLPGeorge A. Van Vliet, BKD, LLPKirsten M. Willibey, BKD, LLP

CANDIDATERyan McCrory, The Watermark GroupBrendan M. Miller, Katz, Sapper & Miller, LLPLeah M. Powers, Bucheri McCarty & Metz LLPJonathan D. Rak, Department of DefenseKyle J. Runge, Answers in Genesis, Inc.Brett Sauer, A.L. Smith Professional

CorporationMegan Schenk, Fennimore & Associates, P.C.Justin K. Thompson, Bradley Associates

Anthony B. Tobias, ACT Services, Inc.Amanda Webb, Bucheri McCarty & Metz LLP

RESIDENTChristine A. Bardsley, CPA, National

Programming ServiceSamuel J. Baron, CPA, Anthem, Inc.Arthur G. Beriault, CPALora L. Bramer, CPA, Heman Lawson Hawks,

LLPAmber M. Colbert, CPA, Colbert AccountingRyan T. Eberhardt, CPA, RSM US LLPLandon M. Hackett, CPA, Blue & Co., LLCNicole K. Halteman, CPA, Katz, Sapper &

Miller, LLPBenjamin L. Hasser, CPA, ProTrans

International, Inc.Caroline E. Hensley, CPA, ITT Educational

Services, Inc.

New MembersMEMBERS

Not FDIC Insured No Bank Guarantee May Lose Value © 2016 Diamond Capital Management

317-261-1900 www.dmdcap.com

Client/Filename: NBI 4040 World of Change_8x4.9

Job #: ANBI-4040-04

Job Name: DCM - World of Change Ad CD:

Size/Specs: 8" x 4.9"; 4C AD:

Insertion Date: Spring 2016 CW:

Pub: IN Perspective, the CPA Society Publication Acct. Serv.

111 Monument Circle, Suite 4150 / Indianapolis, IN 46204 /T 317/632/6501 /CVRindy.com /

In a world of change, our focus is steadfast.

CPA IN Perspective6

Matthew D. Holmes, CPA, City Real Estate Advisors, Inc.

Sherry L. Kapperman, CPABridget Keating, CPA, University of Notre

DameDaniel L. Keplar, CPA, Long & Associates, P.C.Paula K. Kercher, CPA, Kruggel Lawton CPAsLeachia D. Kern, CPA, LDK Consulting LLCZachary A. Kubly, CPA, Ally Accounting, LLCAutumn L. Link, CPA, Deaconess Hospital,

Inc.Kelly J. Martin, CPA, Gimbal FinancialAnna K. May, CPA, Brady WareBen C. Miller, CPA, Crowe Horwath LLPPenny M. Nash, CPA, Sigma Kappa SororitySarah M. Niemeyer, CPA, EYTrent D. Parkinson, CPA, Katz, Sapper &

Miller, LLPWalter J. Renderos, CPA, BKD, LLPCourtney L. Schnaus, CPA, EYMelenie S. Sheehan, CPA, Myers and Stauffer

LCLarron N. Smith, CPA, MDwiseSamuel D. Smith, CPA, City of BloomingtonAnna P. Wallace, CPA, Greenwalt CPAs, Inc.Teresa M. Watson, CPA, Simon Property

GroupJeffrey S. Williams, CPA, CPM Construction,

Planning & Management, Inc.Kazuhiro Yoshitomi, CPA, BKD, LLP

STUDENTKachina L. Adams, Indiana University South

BendZiyad A. Alharbi, Indiana University South

Bend

Mustafa M. Alturkistani, Indiana University South Bend

Kevin Amburgey, Indiana University EastAshton Bishop, University of EvansvilleQuinn E. Bixler, Ball State UniversityGilang A. Chiara, University of EvansvilleApryl C. Cichon, Purdue University CalumetDerek S. Hugo, Ball State UniversitySwarooparani G. Hurli, Indiana University

Purdue University ColumbusMai T. Huynh, Indiana University NorthwestMorgan E. Juillerat, Purdue UniversityReginald P. Keim, Indiana University South

BendJoshua A. Knill, Ball State UniversityJacob D. Linter, Ball State UniversityKenna J. Longabaugh, University of EvansvilleMaja Magnusson, University of EvansvilleBrittany Mattes, IPFWBlake A. Meny, University of EvansvilleClaire E. Miller, Manchester UniversityEgidijus Mockevicius, University of EvansvilleCole J. Moody, Indiana UniversityWilson B. Pahud, University of EvansvilleChandra K. Parr, University of EvansvilleBrandon L. Peetz, Western Governors

UniversityBei Peng, University of Notre DamePatricia R. Reid-Sinclair, Indiana University

NorthwestSteve Richardville, IPFWChristopher D. Sargents, Ball State UniversityBlair P. Scott, University of EvansvilleVictoria A. Scott, Ball State UniversityJustin T. Shadday, Ball State UniversityArmin Skopo, Indiana University South Bend

Dylan A. Smith, Ball State UniversityNicholas W. Sommer, Indiana UniversityTerees S. Spegal, IUPUIHeather K. Underhill, University of EvansvilleRoss A. Underwood, Ball State UniversityKyle G. VanDePutte, Purdue Polytechnic

Institute South BendDoug Vroegh, Purdue UniversityYibing Wang, Indiana University Purdue

University ColumbusJeffrey L. Whitmer, Indiana University South

BendHope O. Williams, IUPUIKory A. Wood, Ball State UniversityStefan Yanef, Purdue University Calumet

Those listed above without a symbol are not current INCPAS members. If you know or work with any of these successful exam candidates, contact INCPAS Director – membership & Engagement at [email protected].

7SPRING 2016

ALMA MATER: Indiana University –Bloomington

LANGUAGES: English and Chinese (Cantoneseand a bit of Mandarin – I was born and raised in Hong Kong)

COMPANY: Aviation Tax Consultants, LLC since2003

COMPANY SIZE: 5

INCPAS MEMBER SINCE: 1999

JOB DESCRIPTION: Sales and marketing tobring in new clients. Networking with aviation sales professionals across the country who are our primary referral sources; tax research and tax planning.

SOMETHING EXTRA: I’m a frequent speakerat industry events on aviation tax issues and contribute to trade journals and publications, including PilotMag and Skytech, Inc.’s Advantage.

WHEN I’M NOT AT WORK

FAMILY: My wife Sue and I have been marriedfor 22 years, and we have two sons (Cody at Taylor University and David at Fishers High School)

HOBBIES: Golf, ALL IU sports, includingfootball and soccer

COMMUNITY INVOLVEMENT: Hazel DellChristian Church. Due to increase in business travels, I quit singing in church choir, which I miss badly.

TIPS FOR NEW TALENT

ADVICE FOR STUDENTS CONSIDERING THE PROFESSION: Learn to become a “salesperson,” not just a CPA. Whether you are promoting your company, your accounting services or yourself to potential future employers – you are always selling.

ADVICE FOR YOUNG PROS WANTING TO ADVANCE IN THE PROFESSION: Be creative, bewilling to think outside the box and work hard to network.

Daniel Cheung, CPA

Day in the Life of a CPAMEMBERS

AVIATION TAX CONSULTANTS, LLC

WATCH: See the rest of Cheung’s story with an interview at youtube.com/incpas.

“Learn to become

a sales person, not

just a CPA. Whether

you are promoting

your company,

your accounting

services or yourself

to potential future

employers – you are

always selling.”

CPA IN Perspective8

• Flexibility on work schedule, and nocommute as I typically work from home.

• Travel, travel and more travel. I traveledover 100 days in 2015 attending tradeshows, airshows, conventions, CPE, etc.Periodically, I get to fly in private aircraftwithout the hassle of commercial airportsand security.

• Golf! Because of clients and sales reps, I’vegotten to play the Pebble Beach PublicLinks in California and Hazeltine Golf Clubin Minnesota. I also got to meet ArnoldPalmer when he was recognized by theCitation Jet Pilot Association.

• Since we handle tax planning and workwith our clients’ CPA and other advisors,

we don’t prepare tax returns and can actually take spring break with the kids. Our busy season is actually in December, when many aircraft buyers try to complete the acquisition before year end so they can take advantage of tax depreciation for the tax year ending December 31.

COOL COMPANY PERKS

Day in the Life of a CPAMEMBERS

DAY IN THE LIFE

7:30 A.M. Dentist appointment with our son.Since I travel over 100 days a year, I try to help my wife out when I am home so I plan appointments around my travel schedule.

8:30 A.M. Drop son off at school and back to home office, which is in Fishers. While the main office in Columbus isn't far away, with the technology we have I don’t have to go there very often. The nature of our practice is that clients, prospects and referral sources call from all over the country. As long as my phone is working, I can get my work done.

9.15 A.M. Conference call with client fromAtlanta to discuss tax treatment of 2015 aircraft expenses. Federal income tax issues by themselves are not overly complicated, even though there are specific regulations that apply to aircraft and not other business assets, like personal use of a business aircraft, related party leasing, etc. ATC also provides state sales and use tax consulting - depending on where the aircraft is domiciled, we can eliminate sales and use tax liability completely, or very often, defer the tax due over the length of the ownership period. Another major area that we provide consulting relates to Federal Aviation Regulations compliance. Most of our clients operate their plane under “Part 91” of the FARs, and there are various operational requirements with which our clients need to comply.

10:30 A.M. Computer time! Prepare ScheduleC for a client in Waco, Texas; review and comment on partnership tax return for a client in Dallas, Texas.

1 P.M. Scheduled conference call with aprospect in Dallas, Texas. They are considering purchasing a business jet for $4.5 million, weighing new vs. used aircraft. Email an aircraft banker regarding financing of a Gulfstream aircraft for a current client.

NOTE: Our clients come from a wide variety of industries. Historically, we work with mostly business owners who are also pilots and enjoy flying. Lately, we are trending towards businesses who have the needs to cover a wide geographical area, transporting sales people or job crews to remote locations and hiring a professional pilot to operate the aircraft. We work with many real estate developers, construction companies, doctors and attorneys, etc. We also work with a sole proprietor who operates a $200,000 piston aircraft, all the way to a conglomerate that operates a $35 million jet. So there is a wide range of income and revenue level when a private business aircraft may make sense. Private planes are driven more by the business travel needs of a particular business.

3 P.M. Phone call with a prospect from Texasregarding various sales tax planning strategies. In Texas, there are a few options. If the seller meets certain requirements, we can eliminate sales tax completely by meeting an occasional sale exemption. For this particular aircraft that we are dealing with, the best option is to utilize a leasing company to defer the sales tax liability.

4:15 P.M. Conference call with client’s attorney.Client is considering selling business and wants to discuss strategy on spinning off aircraft entity. Unfortunately, when we are dealing with a depreciated asset that has a tax basis lower than fair market value, we have limited options

and most likely, the client has to recognize gains when the aircraft entity is spun off. However, we explore ways to negotiate the sale of the business that can allow the current owner to provide management and consulting services post-sale and continue to utilize the aircraft for business purposes.

5 P.M. Conference callwith prospect’s CFO and CPA from Austin, Texas, considering a new Citation M2. Call lasts over an hour

discussing income tax, sales and use tax and FAA compliance matters. In this case, we are dealing with limitations posed by bank covenants that may prevent the ownership of the aircraft within the operating business. The client also considers

‘chartering’ the aircraft for public use, which may result in adverse income tax treatment (passive loss limitation).

7 P.M. Pick up son from high school club rugbypractice. I don’t get to watch practice today, but we do get to see many of his games. Last May, I got to combine a business trip to Charlotte to watch his team play in a national tournament.

8 P.M. Dinner with wife and son for my wife’sbirthday at Bento Café.

10 P.M. Draft email to prospect in Austinsummarizing the recommendations. Get caught up on emails and pack for business trip tomorrow morning to Des Moines, where I will meet with clients and sales people and also get to attend the IU-Chattanooga and IU-Kentucky NCAA basketball games!

9SPRING 2016

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CPA IN Perspective10

Successful Exam CandidatesTHE CPA PROFESSION

Walaiporn Arunyingmongkhon Samuel C. Bookwalter Joseph B. Brown, Dauby O’Connor &

Zaleski, LLC Jeremy S. Buchanan, Delta Faucet Company

Derek Budd Brandon D. Cangany, Sponsel CPA Group,

LLC Adreanne N. CatesEmily S. Chase, Crowe Horwath, LLP Maria Colliver

Courtney L. Comer, CPA, Kruggel Lawton CPAs

Stanley A. Cope, Dauby O’Connor & Zaleski, LLC

Michael R. DeProsperoDeanna DiltsCarly M. EasonSteven T. Eblen, Kemper CPA Group, LLPCarrie EdgellJacob F. EldridgeNada S. Farah

George J. Fernandez, Eagle Creek Avation Services

Kyle D. Fessler, BKD, LLP Lauren FiscusSarah K. FoxAmy E. FrankenbergerPeter G. Frankos

Taylor G. GelsosomoMichelle L. Goshert

Kala B. Greenwell, L.M. Henderson & Company, LLP

Kara E. Greven Ryan D. Hammer, BKD, LLP

Andrew T. HannaAnne C. Hemmelgarn

Alexis D. Hershey, Greenwalt CPAs, Inc. Jordan L. Hesters, Kruggel Lawton CPAs Jessica L. Hidalgo, Blue & Co., LLC

Rachel HoeseNicole D. Hunsaker

Hannah R. Janssen, Crowe Horwath, LLP Shaun G. Johnston, Crowe Horwath, LLP

Aaron M. JuarezLena M. Kaehr

Brittany KamburMohammad H. Khan

Maulik K. Khatadia, Sponsel CPA Group, LLC

Kimberly A. Kinnaman, Harding,Shymanski & Co.

Benjamin D. Kunkel, RSM US LLP Victoria L. Lamprakes

Thomas C. Lester, Dauby O’Connor & Zaleski, LLC

Tiffany R. Liffick, University of Saint Francis

Julian Y. LimDrew LinderJing LiuKelsey Long, Blue & Co., LLC

Craig M. Lotz, Crowe Horwath, LLP Laura M. Lyons

Matthew J. Malloy, BKD, LLP Austin T. Masters, Crowe Horwath, LLP Kyle MatkovicZachary R. MayberryLucas McKeeGrace McNultyWade MeehanKarson Merrell, Merrell Bros. Inc. Jared M. Miller, Crowe Horwath, LLP Zachary D. MillerDaniel Moore, EYMatthew D. MorgartElizabeth MuellerAustin NeddermanChristine Panah

Kristi A. Parker, Lake City Bank Ashley E. PetersRyan PickettKyle A. PlattKrishna Poudel

Jason Pratt, EY Anthony M. Pugliese, Just Marketing

InternationalLee M. PurdyLogan RasselDaniel Rassi, State Farm Insurance

Ryan S. Ray, Dauby O’Connor & Zaleski, LLC

Diane M. Rorick, Do it Best Corp Elizabeth J. Ruiz, Dauby O’Connor &

Zaleski, LLCHannah E. Samples

Kelsey A. Sanderson, L. M. Henderson & Company, LLP

Brendan J. Schafer Gabrielle M. Schingel, BKD, LLP

Cory M. SchunemannAmanda R. SchwietermanAnne SheltonMichael A. ShockAlexa R. SmithKatherine R. SmithRyan Smith

Gabrielle D. Snider, Energy Systems Group, LLC

Kayla L. St. ClairSarah M. StichterAdam D. Stone

Julie R. Stout, Reed & Company, PC Jessica C. Striebel

Raphael H. Stutz, BGBC Partners, LLP Jordan P. Sublette, Somerset CPAs, PC Teighlor D. Theiss, Deloitte

Stephanie M. TingMatthew N. UhlsBrian Ulrich, Crowe Horwath, LLPMitchell VahalaBrett M. Walter, Crowe Horwath, LLP

Jesse A. Waninger, Greenwalt CPAs, Inc. Mark R. Weber, BKD, LLP

Nathan A. WeltyKatelyn A. WhitsittJames A. WilbornNicole M. WoodXiaohong XuCaitlin M. Yoder

Kristopher R. Yoder, Indiana University Foundation

Austin E. YoungCody C. YoungDerek Zook, McGladrey

Congratulations Exam Candidates

Successful Exam Candidates: October/November 2015 Window

Those listed above without a symbol are not current INCPAS members. If you know or work with any of these successful exam candidates, contact INCPAS Director – Membership & Engagement Courtney Kincaid at [email protected].

11SPRING 2016

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Professional Development Tools & ResourcesTHE CPA PROFESSION

Register for 40 hours of CPE by August 31, and save 25% off the total cost with the ValuePlus program - an average

savings of $405! The INCPAS ValuePlus program allows you to register for a minimum of 40 hours of professional development in any combination of seminars or conferences (excluding Professional Issues Update and webinars). For conferences — Early Bird discount cannot be taken in addition to the ValuePlus discount. All courses must be purchased at the time of enrollment; participants must enroll prior to August 31, 2016.

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ConferenceCalendar

2016

BUSINESS & INDUSTRY CONFERENCEJune 23 • Ritz Charles, Carmel Sponsored by Secure ERP, Inc.

NOT-FOR-PROFIT CONFERENCEJuly 21 • Marriott East, IndianapolisSponsored by The National Bank of Indiana

SMALL FIRM: BIG BUSINESSAugust 11 • Marriott East, IndianapolisSponsored by Secure ERP, Inc.

BUSINESS VALUATION CONFERENCESeptember 9 • Marriott North, Indianapolis

A&A CONFERENCESeptember 29 • Ritz Charles, CarmelSponsored by Kelley School of Business, Indianapolis

TRENDS CONFERENCE: FRAUD, FORENSICS AND CYBERSECURITYOctober 21 • Marriott North, Indianapolis

CONSTRUCTION CONFERENCENovember 15 • Ritz Charles, Carmel Sponsored by Kelley School of Business, Indianapolis

TAX FORUM CONFERENCEDecember 2 • Ritz Charles, Carmel

RENAISSANCE CFO CONFERENCEDecember 16 • Marriott North, IndianapolisSponsored by Secure ERP, Inc.

CPAs in Business & Industry Sponsored by Secure ERP, Inc. • Register at incpas.org/bi

JUNE 23General Sessions• Hear from WIBC Radio Talk

Show Host and Indy Politics Editor Abdul-Hakim Shabazz on what to expect from this election season.

• Craft an ethics program that will foster a successful company culture and increase your organization’s profitability.

• Learn cross-generational strategies for bridging the knowledge gap between senior

leaders and millennials.

Breakout Sessions• What’s big in employment law

• Hot topics in state and local tax

• Honing a “People-Centric” communication style

• Macroeconomic market and global tax trends

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15SPRING 2016

Profession News

Indiana News

Did You Know?THE CPA PROFESSION

CPAs Selected to Ser ve

INCPAS CONGRATULATES INDIANA’S 2015 HIGH GRADE SUCCESSFUL EXAM CANDIDATES

Awards Committee Carl R. George , CPA, CGMA

Business and Industry Executive CommitteePaul D. Massey

Business Valuations Committee Randie Dial, CPA, ABV, ASA, CFF

Council - Elected Members Kevin Kruggel, CPA, CGMA Kent Williams, CPA, CGMA

Designated Council Representative For One Year

Steven Beardsley, CPA

Employee Benefit Plans Expert Panel David L. Leising, CPA

Financial Reporting Executive CommitteeJeffrey A. Sisk, CPA

Independence-Behavioral Standards Subcommittee

Jennifer C. Kary, CPA Thaddeus B. Zaleski, CPA

Information Management and Technology Assurance Executive CommitteeTerry L. Campbell, CPA, CGMA

Joint Trial Board Matthew C. Snively, CPA, CGMA

Life Insurance/Disability Plans Committee Dale L. Gettelfinger, CPA, JD

Not-for-Profit Advisory CouncilDavid Moja

Partnership Taxation Technical Resource Panel

Sarah Allen-Anthony, CPA

Pre-certification Education Executive CommitteeGary M. Bolinger, CAEGail Hoover King

Psychometric Oversight Committee (POC)Ying Cheng

S Corporation Taxation Technical Resource PanelRobert W. Jamison

State & Local Government Expert Panel Kevin Smith, CPA

Student Recruitment CommitteeJames Fuller, CPA

Tax Methods and Periods Technical Resource PanelCatherine Brandt

Tax Practice Management Committee James S. Laudick, CPA

Technical Standards Subcommittee Jake Dunton, CPA, CFE, CGMA

Timeshare Revenue Recognition Task Force Derek Vanemon, CPA

Trust, Estate and Gift Tax Technical Resource Panel

Ted R. Batson, CPA

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Congratulations to these Indiana CPAs who were selected to serve in AICPA leadership positions for 2015-16.

Samuel C. Bookwalter Adam T. Brill

Mary E. BuenteConner J. Ewing

Kala B. Greenwell Brigitte B. Hackler Mark C. Heine David M. Hoover

Christopher S. Lee Craig M. Lotz

Daniel Rassi

Matthew D. Reinholt Jeffrey T. Renshaw, CPA

Alan Rohrer John T. Totten Joshua M. Vander

MissenJordan M. VanProoyen

Kristopher R. Yoder, CPA

= INCPAS Member



INCPAS NewsINCPAS Named “Best Places to Work” in Indiana for Fifth Straight Year The Indiana CPA Society was recognized as one of the top companies in the Indiana Chamber of Commerce’s 2016 Best Places to Work in Indiana. INCPAS placed third in the small/medium company (15-74 em-ployees in the United States) category.

Staff UpdateMariana Lovera has joined the Society this summer as an accounting intern. She is a former INCPAS Scholar and currently enrolled at Marian University majoring in accounting. Lovera will be working in the account-ing department assisting with processing member-ship payments.

Don’t miss out on great members-only benefits — renew your INCPAS membership before June 30. Renew online to stay up-to-date with important issues, have a voice in the Indiana General Assembly, and take advantage of great benefits and discounts that cater to your needs.

Renew your INCPAS membership online at incpas.org/paymydues

It’s Time to Renew Your Membership

Remit payment to:Indiana CPA SocietyP.O. Box 40069Indianapolis, IN 46240

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High-quality education without the sticker shock. Take advantage of the Value Plus Discount. Save 25% when registering for 40 hours or more (average savings $380).Attend a free, four-hour Professional Issues update close to home (average savings $125).

Held in several cities throughout the state, our annual A&A Update and Professional Ethics Update are only $104 each for members (average savings $260).

17SPRING 2016

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INCPAS News

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INCPAS News


Make a Difference!Participate in the 14th annual CPA Day of Service on September 23. Join hundreds of Indiana CPAs and accounting students as they volunteer with their community and help worthwhile organizations. If you have any questions call Marketing Communications & PR Coordinator Elise May at (317) 726-5012. Sign up online at incpas.org/dayofservice by September 9 to be included in media coverage.

DAY ofSERVICE

Studying for the CPA Exam Passing the CPA Exam can increase your earning potential as well as give you more career choices in the CPA profession! As a benefit of being an INCPAS member, Becker offers a $300 discount on their Becker CPA Review course.

Contact Debbie Copp for information at (317) 726-5008 or [email protected]

19SPRING 2016

INCPAS News

Protect Yourself By Maintaining Your CPE RecordsBe sure you maintain records of all completed CPE in case you’re audited. You can count on the Society to provide you with accurate records of the INCPAS professional development you have com-pleted. To view your CPE transcript history online go to incpas.org, sign in and click on the “INCPAS Membership” link under the Member Center drop-down menu. Click on “My INCPAS Account” and then click on “My CPE History.”

PROFESSIONAL ISSUES UPDATE15 PROGRAMS IN 13 CITIESMembers: FREE • Nonmembers: $125

August 25 Hillcrest Country Club Batesville,

August 26 Sheraton Louisville Jeffersonville

August 31 Holiday Inn City Centre Lafayette

September 2 Country Club Kokomo

September 7 Hilton Garden Inn Bloomington

September 9 Horizon Convention Center Muncie

September 13 Scott College of Business Federal Courtroom Terre Haute

September 14 Holiday Inn Evansville Airport Evansville

September 16 Hyatt Regency Indianapolis

September 21 Radisson Merrillville

September 22 Century Center South Bend

September 29 Grand Wayne Center Fort Wayne

September 30 Renaissance North Carmel

October 4 502 East Carmel

October 5 Marriott East Indianapolis

For more information or to register, visit incpas.org/piu

Find webinars with just one clickThe INCPAS online catalog now features a search option specifically for all webinars from all vendors. Hundreds of options are now available and easily searchable in the course catalog at incpas.org.

Simply choose “include virtual events” from the search on our home page.

Now, there’s no need to leave incpas.org and set up accounts elsewhere. One click, and you’re in.


Advocating for MembersTHE SOCIETY

REGULATORY UPDATESBoard Of Accountancy – Hearing on proposed Ethics rule changes

On July 15, the BoA will hear proposed rule changes to allow competency and experience-based ethics to meet the ethics requirement. If approved, the proposal will be sent to the Attorney General’s office and Governor’s office. If the Governor does not approve, disapprove or request more time within 15 days of the proposal’s receipt, it is deemed approved and may be published. Once published on the Indiana Register, the rule would become effective 30 days after publish date.

Why it matters: This creates additional, col-laborative ways to meet your ethics require-ment through the CPA Center of Excellence® or volunteer experience. Moreover, it is another step toward experience and knowledge count-ing toward learning requirements for CPAs in Indiana.

INDIANA PROFESSIONAL LICENSING AGENCYCPE Audit updates

As of the March BoA meeting, out of the 933 licensees selected for CPE audit, 624 (72 percent) have been found to be compliant and 64 still require a second review. The remaining 245 are in varying states of noncompliance or are being petitioned for a hearing by the licensee. Contact IPLA for more information at (317) 242-2727 or [email protected].

Why it matters: Up to 10 percent of CPAs may be selected for CPE audit following each license renewal to ensure they are competent and com-pliant with professional education and licensing requirements.

LEGISLATIVEThe General Assembly has adjourned and

elected officials have shifted their thoughts to elections, interim study issues and next year’s session.

Four bills passed this session with key provisions of interest to INCPAS members

☑ SEA 309: State and Local Taxation - changes the treatment of time and materials for construction retroactive to January 1, 2010.

Why it matters: CPAs in construction may need to advise clients/employers to change handling of taxes related to time and materials.

☑ HEA 1169: Personal Property Tax - removes notary requirement and simplifies reporting for taxpayers eligible for exemption of personal property tax.

Why it matters: CPAs involved in PPT filings need to advise clients and comply with changes.

☑ HEA 1272: Professional License Matters - requires the Indiana Board of Accountancy to adopt rules to allow BoA members access to peer review results and changes CPE audit process.

Why it matters: Provides transparency and allows better oversight to Board of Accountancy.

☑ HEA 1290: State and Local Administration – In addition to many local administrative changes, updates the definition of the Internal Revenue Code to incorporate changes made by Congress through January 1, 2016.

Why it matters: Early conformity with IRC saves taxpayers and preparers from having to do amended returns.

In Case You Missed It:

☑ Sales Tax on Services: A bill was introduced to tax professional services, regardless of profession, as well as business-to-business transactions. The bill was withdrawn early in the session. However, sales tax on services is not going away. INCPAS and other business groups will be involved in interim discussions to help legislators understand the negative impact such a bill would have on business in Indiana.

Why it matters: A sales tax on services could drive business out of state and negatively impact business growth.

PEER REVIEWFailed Peer Review reports

The Peer Review Oversight Committee met on March 3, 2016. Seven failed peer reviews on the agenda, three of which were sent to the Attorney General’s office for further investigation.

Why it matters: Failed peer reviews have potential ramifications beyond the remedial action assigned by the INCPAS Peer Review

Advocacy: from the peer review and ethics committees to the government relations advisory council and legislative key person program, the Society advocates for you and monitors the regulation of the CPA profession in Indiana.

Advocating in Indiana and BeyondWhy it matters

624 Compliant

64Second Review

245Varying states of noncompliance

21SPRING 2016

Committee. The Board of Accountancy looks very seriously at failed peer reviews – repeated failure by a firm could impact its ability to practice in the future. Currently, the most serious action taken has been to put a firm on probation and imposition of fines.

INDIANA DEPARTMENT OF REVENUE

Inheritance Tax Returns (Form IH-6) changes were effective April 1, 2016

In 2013, the inheritance tax was repealed for individuals dying after December 31, 2012. Now all resident Indiana Inheritance Tax Returns (Form IH-6) for individuals who died prior to January 1, 2013 must be filed with IDOR, rather than the county courts.

Why it matters: Senate Enrolled Act 371 streamlined the processing of inheritance tax returns and payments as part of the continued inheritance tax phase out.

AROUND THE COUNTRYAICPA’s legislative update from around the state/country

Key state legislative issues the AICPA is monitoring this year includes: Definition of Attest, Firm Mobility, Taxes on Professional Services, Regulation of Tax Preparers, Ban the Box, Patent Assertion Entities, legalization of marijuana, audit partner rotation and restriction of trade issues stemming from the North Carolina State Board of Dental Examiners v. Federal Trade Commission decision. As of this report on April 5, 2016, some states were still in session.

Indiana Senator announces support for the Mobile Workforce State Income Tax Simplification Act

Senator Joe Donnelly signed on to this bipartisan legislation. INCPAS also sent a letter to Sen. Dan Coats encouraging him to cosponsor S. 386.

Why it matters: This act would make it easier for workers and companies to do business across state lines and would simplify unnecessarily complex tax reporting requirements.

Patent Reform coalition updateINCPAS met with staff from Senator Joe

Donnelly’s office, along with United for Patent

Reform coalition members, to discuss how members, employers and clients of members have been targeted and adversely effected by patent trolls.

Why it matters: This act will help close the loopholes that currently enable Patent Assertion Entities to make overly broad claims/lawsuits.

PUBLIC NOTICESuspension

Dennis M. D’Amico, CPA of Lebanon, Indiana, has been suspended from membership in the Indiana CPA Society and the AICPA for two years as the result of an investigation of alleged violations of the Codes of Professional Conduct. D’Amico was charged with a violation of Rule 201 – General Standards A – professional competence, Rule 202 – compliance with standards and Rule 501, Interpretation 5 – failure to follow requirements of governmental bodies, commissions, or other regulatory agencies. D’Amico entered into a settlement agreement under the Joint Ethics Enforcement Program, effective March 2, 2016.

ETHICSIndiana CPA Society’s Ethics Committee is Here to HelpBy Ron Smith, CPAKatz, Sapper & Miller, LLP

What is the role of the INCPAS Ethics Committee? It is helpful to first take a look at the mission statement of the INCPAS, which is as follows:

Our mission is to enhance the professional success of our members while respecting the public interest; to encourage and facilitate the adherence to high ethical and professional standards; to facilitate relationships that will benefit our members; to promote a better understanding of services rendered by CPAs; and to represent our profession.

One of the ways INCPAS achieves this mission is through its ethics committee. Most people know that the ethics committee investigates potential violations of the Code of Professional Conduct by members, but the committee also serves to educate and advise members of the Society.

The ethics committee does investigate complaints filed against members to determine if a potential violation has

occurred. Investigations are conducted in accordance with the Joint Ethics Enforcement Program, which was created by the AICPA and virtually all state societies. The bylaws and codes of conduct of the AICPA and the state societies set forth the criteria that a member is expected to observe as a condition of continued membership. These bylaws also describe how a member who may have departed from the criteria for continued membership will be investigated, judged and, if found in violation, sanctioned.

Once a complaint is received by the ethics committee, the committee reviews the complaint and determines if additional information is needed. If more information is needed, the committee assigns the case to a subcommittee for further investigation. The subcommittee collects this information and conducts interviews with both parties to the complaint. Once the subcommittee has finished the investigation, a recommendation is made to the full ethics committee on the determination of an occurrence of a violation or violations and recommended corrective actions.

This process does “facilitate the adherence to high ethical and professional standards,” but it also helps to educate members and improve the profession. The most common corrective action for the member is continuing professional education related to the rules that were violated. The goal is for the member to learn from the mistake and make improvements.

Another important service provided by the ethics committee is serving as advisors when calls are received through the INCPAS ethics hotline. A different member from the ethics committee serves each month to answer calls


THE SOCIETY

IDOR COMMISSIONER’S CORNERBy Andrew Kossack

SINCE MY LAST COLUMN, THE INDIANA DEPARTMENT OF REVENUE HAS BEEN BUSY! INDIVIDUAL FILING SEASON - This time of year, we’re busy (as are you!) with the individual tax filing season. As of March 15, we have received more than 1.8 million individual income tax returns, 91,92 percent of which were filed electronically.

The Identity Protection Program continues to stop and deter tax refund fraud and identity theft in Indiana. Since the program’s inception, we’ve stopped more than $100 million in fraudulent refund attempts, proving the program’s success in protecting Hoosier identities and state revenues. To date this tax season, the program has stopped more than $2.5 million in fraudulent refund attempts. The success of the Identity Protection Program is not only stopping tax refund fraud and identity theft but in deterring it as well.

Thank you for your continued support and assistance in educating taxpayers about the Identity Protection Program!

IT-20S AND IT-65 ELECTRONIC FILINGThe department continues to create

electronic filing options for businesses. Last year marked the first time S-corporations were able to file electronically the IT-20S for 2014 taxes filed in 2015. This year, partnerships also are able to file electronically their IT-65 returns (for 2015 taxes filed in 2016).

Currently, there are five vendors certified to file the IT-65 and seven certified to file the IT-20S. The department’s website, www.in.gov/dor/5239.htm, is updated as vendors are certified for 2015 taxes filed in 2016 and provide these certified products to their clients.

As of March 18, 2016, more than 4,800 e-filed IT-65 forms and more than 22,500 e-filed IT-20S forms were received.

LEGISLATIVE CHANGESThe 2016 legislative session has now

wrapped. This year, the legislature addressed two significant sales and use tax issues: the taxation of “time and material” contracts and collection and reporting requirements for Online Travel Agents, now defined as “facilitators.” In addition, Indiana Code references to the Internal Revenue were updated to 2016.

Some additional legislative changes impacting individual taxpayers include:

• Beginning after December 31, 2017, the additional $1,500 deduction for a quali-fied child may be claimed in cases where the taxpayer is the child’s legal guardian.

• The income tax credit for contributions to the Twenty-first Century Scholarship Fund was repealed.

• Taxpayers now have 20 days, rather than 10, to respond to a demand notice (AR-40) from the department.

• Some additional legislative changes

impacting corporate taxpayers include:

• The income tax credit for certain hospitals has been expanded.

• Treating the cutting of steel bars as manu-facturing has been repealed.

• The credit for taxes paid by nonresident shareholders has been extended to part-nerships and trusts and estates.

Finally, county treasurers have the same responsibility as the department with regard to refunding county innkeeper’s tax collected by the county treasurer.

More detailed information regarding these and other legislative changes will be provided in the department’s Synopsis of Legislation

TAX AMNESTY 2015Tax Amnesty 2015 ended November 16,

2015. As of March 11, 2016, the program has brought in more than $160 million in cash payments, and more than 16,000 taxpayers are on payment plans scheduled to be satisfied by June 15, 2016. We’ll keep you updated on the program’s continued progress.

LOCAL VISITSI will be visiting all of our district offices

again this year. While I’m at each office, I’ll be meeting with as many local tax professionals as possible. INCPAS and our local district office supervisors will keep you posted on the details of each visit. I look forward to meeting with you and discussing the issues important to you.

and provide direction and advice related to the Code of Professional Conduct. If you are facing an ethical issue or need clarification on the Code of Professional Conduct, you can call the INCPAS ethics hotline at (317) 726-5000 or 1-800-272-2054. A formal complaint against a member must be received in writing per the instructions on the INCPAS website.

The ethics committee also monitors and discusses proposed developments by

the AICPA’s Professional Ethics Executive Committee. The committee provides feedback on these proposals, as needed.

Overall, the ethics committee is here to promote and maintain high professional standards of practice by the INCPAS members. This is achieved by investigating and holding members accountable for violations of the Code of Professional Conduct, but also by serving as a resource and advisor to members.

Ron Smith, CPA, is a partner in Katz, Sapper & Miller’s Audit and Assurance Services Department. Smith can be reached at (317) 580-2078 or [email protected].

Joint Ethics Enforcement Program Manual of Procedures; AICPA’s Code of Professional Conduct; and the Indiana CPA Society website, incpas.org.

23SPRING 2016

Kruggel Lawton CPAs would like to congratulate Patrick Lee, Senior Tax Manager, and thank him for his commitment to our KLients and firm. He has been instrumental in the growth and development of our firm’s trust tax practice area, as well as a key contributor for strategic planning. Patrick - thank you for your outstanding leadership. We are proud to have you on our team!

South Bend l Elkhart l St. Joseph

www.klcpas.com

CONGRATULATIONSPATRICK LEE, CPA2016 Emerging Leaders Award Recipient

Sometimes lost in the public discussion regarding job growth and employer movement into and out

of the state has been what is currently taking place right now all over Indiana with respect to both economic development and workforce development. Governor Pence’s diligence in making Indiana’s personal and corporate tax environment the most attractive in the nation is well documented.

Throughout his tenure, personal income taxes have been cut and corporate rates reduced. Just last fall he was able to announce, along with key members of the Indiana General Assembly, that Indiana’s unemployment insurance trust fund loan to the federal government, accrued during the Great Recession, was paid in full, resulting in a reduction of $126 per employee taxes for every Hoosier employer, big and small.

Instead of sending $327 million to the federal government in 2016, Hoosier

businesses will be able to hire additional workers, give deserving employees raises, or have the capital they need to expand. It is also true the cost of living in Indiana is the third lowest in the United States, meaning the Hoosier dollar goes further than in all but two other states.

This does not tell the entire story, however. At the Department of Workforce Development, we are working diligently to develop a Hoosier workforce that is the envy of every other state. We are proactively engaging employers to assess their needs for employee skill and competency levels.

Concurrently, we are developing technology-based solutions to project workforce demand 1, 3, 5, and ten years into the future so education and training resources can be aligned appropriately at every level from K-12 to higher education to ensure we are teaching the right skills at the right time in the right way to meet this demand.

Additionally, we are working with the Indiana Economic Development Corporation and local economic development partners across the state to actively promote the Hoosier workforce to expand and attract high-wage, high-demand jobs.

This is not an easy or short-term endeavor. Training and education resources at every level have not traditionally been aligned to labor market outcomes. Historically, goals have been aspirational in nature and not necessarily congruent to in-demand career pathways. Breaking down generations of conventional wisdom is always difficult, time consuming, and often painful.

I am honored, however, to have been assigned this historic mission. I am confident we are moving in the right direction under the leadership of Gov. Pence to increase Hoosier personal income, and am humbled to be a part of making Indiana a State That Works.

DWD COMMISSIONER’S CORNERBy Steven J. Braun


BOARD OF DIRECTORSThe Board met via conference call on April 21. Board members heard

updates on the fiscal year 2017 budget, group health insurance program, and recent legislative and regulatory activities; addressed property tax settlement; discussed the AICPA Regional Council; and reviewed the Society’s response to the Peer Review Standards Exposure Draft. Plans for CPA Celebration and the spring Leadership Cabinet/Emerging Lead-ers Alliance meeting were other agenda items.

The next Board meeting will be on June 23. Following the meeting, the three new Board level task forces will meet for the first time and begin their series of meetings leading up to the November Board Retreat. This year’s task forces will focus on innovation, leadership development and the changes with the CGMA credential. As always, the task forces will consider the Society’s strategic plan, INCPAS 2025 and other Society strategy documents to determine guidance and recommendations for

future activities. For more information on the INCPAS Board of Direc-tors, contact Gary Bolinger, CAE [email protected].

LEADERSHIP CABINET AND EMERGING LEADERS ALLIANCE

Leadership Cabinet and Emerging Leaders Alliance met on May 19-20 at the Hyatt Regency in downtown Indianapolis. The two-day event also included the Society’s annual business meeting on the morn-ing of May 20.

The meeting covered a variety of topics by speakers and panel-ists. INCPAS knowledge management and complexity advisor David Griffiths, Ph.D. discussed the upcoming Talent Academy and its focus on change management. He also led table discussions and reports on the HR pathways. Later, Inspector General of the U.S. House of Repre-sentatives, Theresa Grafenstine, CPA, CGMA, spoke about the future of assurance in the CPA profession.

AICPA Vice Chair Kimberly Ellison-Taylor provided an update and perspectives on AICPA initiatives, and INCPAS VP of Advocacy Sherrill Rude, CAE, reviewed the 2016 legislative session and upcoming summer activities. Griffiths also presented on effective leadership and decision making, and a panel discussed the role and structure of the Indiana Board of Accountancy.

The Indiana CPA Society does many things to uphold the integrity of the CPA profession. Its leadership groups work hard to enhance the value of your CPA designation and facilitate your access to the resources that are important for you as a professional.

Upholding IntegrityTHE SOCIETY

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LC and ELA members had the opportunity to participate in a break-out discussion centered on the future CPA role and how we prepare INCPAS members for that future role. For more information on LC/ELA, contact Jennifer Briggs, CAE [email protected].

DIVERSITY ADVISORY COUNCILThe Diversity Advisory Council met on April 29. They discussed the

three spring Game On event – South Bend on April 26, Fort Wayne on May 3 and Northwest Indiana on May 10. Other items of discussion at the meeting included the direction of diversity for the Society related to INCPAS bold challenges, the INCPAS Scholars application process, the Scholars Alumni Workshop, and an auction at CPA Celebration in 2017 to support diversity.

Other topics of discussion in the coming months include attracting non-traditional students and career change professionals, how to make the CPA designation more appealing, and developing a print and online piece to illustrate what you have to do to become a CPA. DAC is also considering a joint event with the local NABA and ALPFA chapters in the fall that will be CPA Exam-focused and feature panel discussion.

They are also accepting INCPAS Scholars applications and are gearing up for a great deal of interest from potential Scholars. A conference call will be scheduled in July for DAC members to review the Scholars applications. For more information on the INCPAS Diversity Advisory Council, contact Ali Paul [email protected].

TAX RESOURCE ADVISORY COUNCILTRAC had a conference call on March 28 and met on May 23 with the

Indiana Department of Revenue.Topics covered on the March call included an after-session discussion

about tax legislation and what’s going to be happening with the interim study committees over the summer. Discussion about strategy related to main issues on sales tax on services will be part of TRAC meetings. The AICPA has a state priorities task force that is developing strategies for states to deal with planning for the next tax season.

The May meeting with IDOR featured a post-tax season discussion, the Society’s strategy for the 2017 legislative session, and the Secretary of State’s Office online business registration system, which is designed to ultimately link all state agencies. TRAC members Kyle Simmerman, CPA and Richard Wheeler, CPA attended a meeting in late March as a preview of the new Secretary of State system.


“I GET THIS ALL THE TIME…” The top student FAQs

Student Syllabus: What’s new, what’s due and where you can go for help

WILL INCPAS LOOK AT MY TRANSCRIPT AND TELL ME IF I’VE MET THE EDUCATION REQUIREMENTS FOR THE CPA EXAM (IN INDIANA)?

No, but you can have a NASBA Advisory Evaluation (transcript evaluation) conducted by CPA Exam Services. These evaluations are advisory in nature and are not a final determination of eligibility. An advisory evaluation allows a candidate to correct academic deficiencies prior to submitting an Indiana First-time Application for the Uniform CPA Examination. There is a $100 fee. https://nasba.org/exams/advisoryevaluation/

IF I TOOK _____________________ CLASS AT MY FORMER SCHOOL AND THEN AGAIN AT MY CURRENT SCHOOL, WILL BOTH CREDITS COUNT TOWARD THE 150-CREDIT HOUR REQUIREMENT?

No, college courses with substantial duplication of content may be counted only one time toward the requirements. This does not apply to internships.

CAN I SIT FOR THE CPA EXAM WHEN I’M STILL COMPLETING MY COURSE WORK?

If you plan to become licensed in Indiana, you cannot sit for the CPA Exam until you’ve met the 150-credit hour requirement.

WHEN IS THE EARLIEST TIME I CAN APPLY TO SIT FOR THE CPA EXAM?Sixty (60) days prior to completing the 150-credit hour requirement,

you may apply to sit for the Uniform CPA Exam. You’ll follow the same application process, but you’ll also send need to have a certificate of enrollment form sent to CPA Exam Services. You must submit proof to CPA Exam Services that you have met the 150 credit hour requirement no later than 60 days immediately following the end of the window in which the candidate sits for the examination.

ONCE I’VE PASSED THE CPA EXAM, WHAT’S NEXT?Congrats! The difficult part is over. The next step is determining if

you’ve met the experience requirements. If you already have 24 months of full-time employment that meets the requirements, you can apply for the CPA license through the Indiana Board of Accountancy. If you do not, you must meet the experience requirements before applying for the CPA license.

I DID AN INTERNSHIP AT A CPA FIRM IN COLLEGE, DOES THIS TIME COUNT TOWARD THE EXPERIENCE REQUIREMENT?

Yes. Internships count. Experience in fractions of months will be counted.

WHAT IT LOOKS LIKEA DAY IN THE LIFE OF A CPA

TELL-A-FRIENDSTUDENT MEMBERSHIP IS FREE

WHAT YOU GET:

MARKETABILITY. Get an edge in the hiring process by demonstrating your commitment to the profession.

CONNECTIONS. Meet other professionals at Young Pros Parties, the annual CPA Celebration and other events, as well as in the members-only CPA Center of Excellence® Online Community.

TRENDS. Stay up-to-date on hot topics, issues and trends in the profession through this member magazine, biweekly enewsletter, members-only Open Forum discussions (this especially helps in conversation with recruiters and interviewers).

COMMUNITY. Join in on year-round volunteer opportunities and the annual CPA Day of Service.

SAVINGS. Access discounted preparation courses from Becker and the Exam resource center.

How to become a member Visit incpas.org/join to join online.

WANT TO SEE WHAT A DAY FOR A CPA LOOKS LIKE ?

Check out our Day in the Life videos spotlighting local CPAs of all ages in public accounting, business and industry, and nonprofit! Go to youtube.com/incpas.

CALLING ALL CPAsARE YOU INTERESTED IN STUDENT INITIATIVES?Here are some ways you can get involved:

• High school and campus presentations• Career fairs• Summer workshops• Get recruitment resources from INCPAS (including the student recruitment kit)

To find out more, contact INCPAS Director – Diversity and Outreach Ali Paul at [email protected] or (317) 726-5025.

THE SOCIETY

27

CPA EXAM CHANGES:ARE YOU READY?

ADDITIONAL RESOURCESIndiana CPA Societyincpas.org | @incpas

CPA Center of Excellence®cpacoe.com | @cpacoe

Uniform CPA Examinationcpa-exam.org

Indiana Board of Accoutnancyin.gov/pla/accountancy.htm

National Association State Boards of Accountancynasba.org/exams/cpaexam/indiana

This Way to CPAthiswaytocpa.com | @thiswaytocpa

Robert Half – Finance & Accountingroberthalf.com/finance

The AICPA recently announced the details of the next version launching in April 1, 2017. The Exam is evolving to reflect the needs of today’s profession and focused on the knowledge and skills required of newly licensed CPAs.

AUD 72 8–9 N/A BEC 62 4–5 3 FAR 66 8–9 N/A REG 76 8–0 N/A

Multiple Choice Task-Based Written Section Questions (MCQ) Simulations (TBS’s) Responses

What’s new and how to prepare for the next version

Shift from Memorization to Critical Thinking (greater assessment on higher order skills including critical thinking, analytical ability, communication skills, problem solving, professional skepticism)

There will still be four Exam sections: Auditing & Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR) and Regulation (REG)

Less multiple choice questions and an increase of task based simulations (TSB will be added to BEC for the first time)

Increased testing time (16 hours – 4hrs/Exam) and a new 15-minute break midway through each section that doesn’t count against testing time.

In-depth Exam blueprints will replace the current content and skill specification outlines to provide better clarity on what will best tested

10-day test window extension = 40 extra days of testing!

BLACKOUT MONTHS: March, June, September and December (the first 10 days of each of these months will be open for testing) ***only exception is June 2017

The price of the Exam will increase (due to the increase in testing time).

To find out more, go to aicpa.com/nextcpaexam.


The 16-question survey was sent to all INCPAS members, regardless of experience level or segment of the profession they work in. Among the respondents, 56 percent came from public accounting, 37 percent from business and industry, four percent from edu-cation and three percent from government. It was a pretty close representation of a cross section of INCPAS membership.

Survey questions covered a wide array of topics: environments in which respondents are most successful in learning; preferred learning group sizes; device of choice; prefer-ence for formal or informal settings; whether or not they have a professional development plan and if so how plans are defined, tied to metrics and skills assessed; if resources

are needed to develop a plan, support for a competency-based system; soft skills most needed personally; soft skills most lacking in new hires; and how employers address soft skill development.

“The survey results confirm what we’ve known to be true for some time now,” said Society President & CEO Gary Bolinger, CAE. “First, that mastery of non-technical skills is critical for current and future CPAs. Second, the current hours-based system of education is outdated and not meeting CPAs’ needs. And third, CPAs want options for professional development and need help mapping out those plans.”

Specific highlights from the survey results follow.

Learning Survey Identifies Preferences, NeedsINCPAS members not only increasingly prefer online learning environments, but see the need to develop soft skills according to a recent survey by the CPA Center of Excellence®. Nearly 700 members responded to questions about learning preferences and skills. Results validate the growing need for online, interactive competency-based learning and soft skills assessment and development, principles on which the CPA Center of Excellence® was established in 2014.

THE SOCIETY

From the CPA Center of Excellence®

Analytical20%

Problem solving36%

Skills colleagues would like to see in new hires(respondents could select multiple skills)

Communications38%

Leadership14%

Critical thinking40%

of CPAs do not have a plan

62%

of CPAs would like resources to help

develop a plan

65%

of CPAs said their skills are

assessed

44%Only

ProfessionalDevelopmentPlans

“When doing online learning, I am required to focus and learn. In a class setting, it is easier to just be physically present and not get much out of it.”

– survey participant

TRAINING NEEDSIn terms of specific types of training, 75 per-

cent of respondents said they need technical accounting, auditing and tax education as expected. But more than 40 percent (respon-dents could choose multiple types of edu-cation) said they also needed non-technical education such as leadership, critical thinking and communications training. And 13 percent indicated that they needed ethics training as well.

CLASSROOM AND DEVICE TRAIN-ING PREFERENCES

Classroom training was the top choice among CPAs for a learning environment; however, nearly 30 percent said they are most successful in online webinars while over 20 percent said they are successful in online self-study. These online education percentages are believed to be higher than in prior years. As far as devices used for online education, the laptop was used most, followed by a desk-top, tablet and smartphone.

MOST EFFECTIVE GROUP SIZESTwo additional questions addressed the

respondent’s preference for learning group size. Larger groups are preferred for both classroom and online learning. In a classroom environment, 93 percent preferred class sizes of 10 or more. In an online environment, 81 percent preferred groups of at least 10 or more as well.

FORMAL VS. INFORMAL SETTINGSWhen asked simply about their preferences

between formal and informal settings for learning, nearly 64 percent of respondents preferred informal settings. And in terms of learning formats, an interactive format received the most votes, followed by lecture and experiential. A sample of the comments received supported these findings.

“Formal is too restricted. There are often good ideas by the participants in classroom CPE, and they can offer valuable insight at times. A combination of lecture and inter-active is best,” said one survey respondent. Another commented, “Informal settings usu-

ally allow for more participation and knowl-edge sharing of participants.”

A third respondent provided a perspective that contrasts competency-based learning with the current hours-based model: “I like to learn at my own pace. When doing online learning (such as CPA Center of Excellence® training), I am required to focus and learn. In a class setting, it is easier to just be physically present and not get much out of the class.”

COMPETENCY-BASED LEARNINGMore than 35 percent of respondents

agreed that a shift to competency-based education for

From the CPA Center of Excellence®

Analytical20%

Problem solving36%

Skills colleagues would like to see in new hires(respondents could select multiple skills)

Communications38%

Leadership14%

Critical thinking40%

of CPAs do not have a plan

62%

of CPAs would like resources to help

develop a plan

65%

of CPAs said their skills are

assessed

44%Only

ProfessionalDevelopmentPlans

“When doing online learning, I am required to focus and learn. In a class setting, it is easier to just be physically present and not get much out of it.”

– survey participant

Continued on page 42...

29SPRING 2016In accordance with applicable professional standards, some firm services may not be available to attest clients.

© 2016 Crowe Horwath LLP, an independent member of Crowe Horwath International crowehorwath.com/disclosure FWO-16200-004E

Congratulations to Mark and Andrea for their achievements in creating lasting value.

Cheers! Mark Hildebrand, former CEO of Crowe Horwath LLP and former Chairman of the Board, Crowe Horwath International 2016 Distinguished Service Award

Andrea Castle, Senior Manager 2016 Emerging Leaders Award

Audit / Tax / Advisory / Risk / Performance Smart decisions. Lasting value.

Are you at your BEST or WORST first thing in the morning?Either way, this new breakfast series format can help ease you into the work day by kicking it o� with ca�eine (if you need it), breakfast, conversation with colleagues and key training takeaways in these short sessions!

Not long ago, Joselin Martin, CPA, CGMA, got a crash course. As CFO of Hayles and Howe Inc., which makes ornamental plasterwork and imitation marble, Martin has the perfect set of skills to lead a modern international finance team. And for years, she and her boss had sought someone with a similar mix of skills to lead the company’s UK finance operation.

While on the Business and Industry Executive Committee of the AICPA, Martin met Louise Taylor from the Institute’s joint venture partner, the Chartered Institute of Management Accountants. Thinking Taylor could help her with her company’s UK-based talent dilemma, Martin sent Taylor an email to see if she could offer any leads.

“This is something that’s been floating around the back of my head for years,” said Martin. “In less than an hour, I had a potential solution.”

That is the power of collaboration. When profession leaders like the AICPA and CIMA join forces, new roads to success are paved for members of both organizations.

Now, the AICPA and CIMA want to strengthen their partnership even further.

ENHANCING THE PROFESSION WORLDWIDEThe organizations have proposed creating a new accounting

association that would integrate operations and represent the entire accounting profession, while preserving the AICPA and CIMA membership bodies. Together, the two Institutes would provide members with enhanced advocacy, expanded resources and additional education opportunities.

The AICPA’s Board of Directors and governing Council have endorsed the proposal and 51 state CPA societies, including the Indiana CPA Society, have so far passed resolutions of support. AICPA members weighed in through an online vote that took place between April 18 and June 16.

“Numerous trends are changing the way business is done, from international regulations to interconnected supply chains,” said INCPAS President & CEO Gary Bolinger, CAE. “They won’t stand still, and neither can we. This proposal is an opportunity to lead the profession forward and position it for strength amid a shifting landscape. We support it and encourage our members to vote ‘yes.’”

The new association would not replace the AICPA or CIMA. Each organization would continue to serve the unique needs of its community, with the AICPA remaining steadfast in its commitment to promoting, protecting and growing the CPA. Members of the AICPA and CIMA would keep all of the same benefits they currently enjoy and have automatic dual membership in the new association for no additional dues.

The association would act like an engine room, leveraging the

strengths of the AICPA and CIMA, to power enhanced resources and education opportunities across all aspects of accountancy. It would provide more agility to respond to member and market needs.

Equally important, the new association would be a powerful advocate for the world’s accountants, speaking with the voice of more than 600,000 professionals to fight against onerous, unnecessary regulation increasingly originating overseas that do not protect the public interest. It would provide a broader platform to promote the accounting profession to the next generation.

Given the pace of change and complexity and the increasingly borderless, international state of business and finance, AICPA President and CEO Barry Melancon, CPA, CGMA, said it’s an idea whose time has come. He equates the proposal to other changes throughout the profession’s history -- among them, the Securities Act of 1933 that mandated audits of public companies, the advent of peer review, the transformation of the CPA exam, the profession’s adoption of cloud-based technology, and the emergence of strategic advisory firms.

“This is not unique for our profession,” he said. “This is part of the continual evolution. People throughout our history have made prescient and sometimes tough decisions that gave us a platform to build an incredibly successful profession. Now it’s our turn.”

PROTECTING THE PROFESSION’S COREWhile emphasizing the need to move CPAs forward, Melancon said

the AICPA also remains focused on protecting the profession’s core – a core that today stands strong. Universities are producing record numbers of accounting graduates and an overwhelming majority of key business decision makers, 88 percent, say that CPAs are valuable to their organizations. Another 84 percent say they would have more confidence in a job done by a CPA.

With that core in place and protected, there is opportunity for broader scope. That’s important to AICPA members, too. Eighty-four percent of CPAs believe the AICPA should represent the diversity of members, not just those in public accounting. But they give the AICPA a 41 percent performance rating in serving members in business and industry.

With nearly a 100-year history, CIMA brings a rich depth of thought leadership, tools and resources to members in management accounting. And it has strong relationships with employers around the globe – Shell, HSBC, Barclays and Unilever to name just a few.

CIMA members are also voting on whether to approve the proposal. Provided that the memberships of both organizations give it the go ahead, the changes will begin to be implemented as of January 2017. It would be a methodical process to make sure all value is unlocked.

“We want to build up to something that maximizes our opportunities in the future,” Melancon said. “Twenty years from now, we don’t want somebody to ask, ‘Why didn’t you do this?’

Visit aicpa.org/horizons for more information about the proposal and to share feedback.

Supporting an Expanded Joint VentureIn business, as in life, who you know is often more important than what you know.

FEATURES


31SPRING 2016

Are you at your BEST or WORST first thing in the morning?Either way, this new breakfast series format can help ease you into the work day by kicking it o� with ca�eine (if you need it), breakfast, conversation with colleagues and key training takeaways in these short sessions!

TIME: 7:30 a.m. for breakfast and networking, and 8-9:40 a.m. for the training program.

COST: $99 per session (includes breakfast)

CPE: 2 hours

LOCATION: INCPAS Prof. Dev. & Conf. Ctr., Indianapolis* While the courses in each series do build off of one another, you don’t need to attend all of them.

The Breakfast SeriesCPE & CONVERSATION OVER COFFEE

I got a lot out of this discussion that I can apply to both my internal presentations and client meetings!

SEPTEMBER 8: Presenting to Small Groups: Being More Effective When You’re Up Close and Personal

OCTOBER 13: Your Body Speaks Even When You Don’t: The Science of Body Language and How to Use It to Your Advantage

NOVEMBER 4: “Once Upon a Highly Profitable Time …” How to Use Stories in Business Presentations

DECEMBER 1: “Now I Get It!” - Presenting Financial and Complex Information to Non-Technical Audiences

SPEAKERS: Lisa Mitchell, Robert Norris, Sara Norris and Rhonda Tamulonis, When You Leave The Room

PRESENTATION SKILLS SERIES

SEPTEMBER 6: The Human Element

SEPTEMBER 13: Technology Options

SEPTEMBER 20: The Travel Edition

SPEAKER: Rick Rusch, CPA, CGMA, CITP, Secure ERP, Inc.

This was a great course! It is relevant to my current situation, and the tips will be used.

CYBERSECURITY SERIES

For more information or to register, go to incpas.org


FEATURES

Across the country, high school seniors are donning caps and gowns for graduation. Many will head off to college in the fall, full of hope for a bright future. Through the help of family, teachers and counselors, they have decided on a major which will determine the career they will enter into for the rest of their professional life.

Pretty simple, right?

Not so fast. Landing your dream job right out of college and sticking with it throughout your career is a thing of the past.

forTalent

The War

The War

forTalent

By Stephanie Parton, CAEINCPAS Director – Marketing Communications

Brought to you by the CPA

Center of Excellence®

Aaron Brannan, CPA, Sarah Richmond, CPA, and Mary Milner (L-R) members of the Baden Gage & Schroeder LLC Millennial Group

33SPRING 2016

Only 14 percent of U.S. workers believe they have the perfect job and more than half want to change careers, according to a 2013 Harris Poll.

Making the Career ChangeDeciding to make a career change is a huge

decision that shouldn’t be taken lightly. There are many risks to consider including the cost of going back to school, juggling a full-time job, and maintaining work-life balance while pursuing a new degree and career.

Robert Reynolds, CPA, CGMA, made a career switch in his early 30s. He went from manager of a convenience store to director and shareholder with Brady Ware.

“I finally found my calling, public account-ing, at the tender age of 31,” Reynolds explained. “After obtaining my associate degree in business administration, I embarked on my journey to real adulthood as a mid-level manager for Stop-N-Go. Needless to say, the 24/7 retail environment lost its appeal after a few years, and in my late 20s, I found myself still struggling to determine just what I wanted to be when I grew up.

“A wise person I knew at the time spoke of the career opportunities available in account-ing, and since I enjoyed working with num-bers, I enrolled at Wright State University in the fall of 1985 as an accounting major and the rest is history,” he added.

IU Health Ball Memorial Director of Finance Bettie Caldwell CPA, CGMA, also made the career change switch after reflecting on her long-term goals.

“I was a mid-life career–changer, having worked as a registered respiratory therapist in the hospital setting for over 15 years,” said Caldwell. “A family move to a new job market prompted me to re-evaluate what I wanted to do with my remaining 25 plus years of work life. I was primed for a challenge and a change, and found what I was looking for in the CPA profession. Eventually my career as a CPA led me full circle back to the healthcare setting, but this time as a director of finance for a large hospital system.”

Desire for ChangeWhile not everyone who wants to change

careers will actually make the decision to go through with a switch, a significant portion of the American workforce would like to do so.

Nearly 80 percent of workers in their 20s

said they wanted to change careers, followed by 64 percent of 30-somethings and 54 percent in their 40s according to the Harris Poll.

“I just wasn’t thinking long-term about my career,” explains Mary Milner, staff accountant at Baden Gage & Schroeder LLC. “I didn’t really know myself well enough at age 19 to know what I wanted to do for the rest of my life. So I got a job in the real estate industry. I did leasing and a little bit of sales and cus-tomer service, putting out fires, conflict resolu-tion. It was great experience and I did that for seven or eight years.

“There were a lot of things about it that I enjoyed but it just wasn’t where I wanted to be for my career,” she continued. “After a while I started doing some soul-searching. I found that all the things I enjoyed doing in real estate had to do with accounting. That was kind of my light bulb that maybe I should be doing this.”

Milner recognized her decision to go back to school and pursue an accounting degree was a risk.

“It was a big risk to say OK, I’m going to go back to school, I’m going to take out more student loans,” she said.

Milner said she decided to make the com-mitment and take the risk knowing it would pay off in the long run. Quitting was not an option for her.

“It’s a whole different experience trying to go to school when you already have a full time job and I was starting a family,” she said. “And it leaves no time for anything because every free moment is spent studying. Looking for a job was probably the scariest part. I was unsure how to navigate that more so than just deciding to go back to school. It was almost a full time job looking for a full time job.”

Enter the CPA Profession INCPAS President & CEO Gary Bolinger,

CAE recently wrote about career changers entering the CPA profession in a post “The Next Big Source of CPAs” on the Society’s blog I Was Just Thinkin’.

“Career changers are going to end up somewhere in the workforce,” Bolinger wrote. “It might as well be the CPA profession. A lot of these people have got the perspective and talent to be significant contributors in the profession. If we want to leverage this trend, the profession (which includes firms, corpo-rate accounting departments, colleges and

universities, and accounting associations and societies that serve the profession) needs to reassess recruitment. Are we willing to accept the need to aggressively recruit talent in places that we have never looked before? The places to start are the ‘career changer’ marketplace and the non-traditional student marketplace.”

Nontraditional StudentsThere are more than 17.6 million undergrad-

uates enrolled in American higher education. The National Center for Education Statistics reports 38 percent of those enrolled in higher education are over the age of 25 and one-fourth are over the age of 30. The share of all students who are over age 25 is projected to increase another 23 percent by 2019.

“More seasoned candidates can bring a perspective on business and the role of being a professional to an organization that rests on a foundation built through real life and work experiences,” says Reynolds. “All I can say is at 31, I know I was a much better listener than I was at 21. At 31, I was more patient than I was at 21. I certainly was more thoughtful and empathetic at 31, than 21. I feel these traits and my journey not only allowed me to advance my career, but they contributed greatly in helping me become a trusted advisor to clients.”

Purdue University Northwest Department of Accounting Head Ed Furticella says nontra-ditional students are faced with challenges traditional students might not face.

“The speed of the course work can also be challenging for the nontraditional students,” he said. “Especially the students who are balancing work and family commitments. They are worried about balancing work, life and school. They worry about getting behind in class and typically, these are the students that will drop a class if they don’t think they’re doing well.”

Once Milner made the commitment to go back to school for her accounting degree, her concern shifted to what would happen after graduation.

“I was afraid as a job candidate that the people interviewing me would have concerns about it,” said Milner. “I was afraid they would have concerns and say ‘why did you go back to school, why are you at this age and you’re just starting out, why did you go to school online.’ What I found was that I had more anxiety about it than they did. They just wanted to


FEATURES

Millennials (age 18-34) are now the largest generation in the U.S. labor force, according to Pew Research Center. This group is realiz-ing they are the future of the workplace and are being proactive in setting themselves, as well as their employers, up for success in the future.

That was the case for Aaron Brannan, CPA, and Sarah Richmond, CPA, at Baden Gage & Schroeder LLC as they created a Millennial Group for their CPA firm.

“Sometimes millennials would come in and it was almost like they were treating this as a job and not necessarily as the begin-ning of their career,” said Aaron M. Brannan, CPA, supervisor with Baden, Gage & Schro-eder LLC. “I went to the CFMA national con-ference in Chicago and there were a lot of discussions about generational challenges. I came back from that really thinking.”

Richmond, supervisor for Baden Gage & Schroeder, notice a difference in her coworker as well.

“Aaron was going through some self-re-flection and looking at his career and think-ing, we’re the next generation of leaders here at Baden, what can I do to help people be more engaged,” she explained. “We were searching for something that people

could rally around, to bring people together, help engage people and take ownership of their careers.”

Brannan had an idea that they should create a Millennial Group to meet at least once a month, except during busy season, to get together and discuss things that are important to their generation. He presented the idea to Managing Partner Chris Hoot-man, CPA.

“I went to her with the goals that we needed to encourage engagement in the younger generation so people don’t seem like they’re just going through the motions, they’re really trying to better themselves in their career,” he said.

At their monthly meetings, the Millennial Group discuss topics such as taking owner-ship of their careers, encouraging the entre-preneurial spirit and learning how to sell the firm, effective habits of young professionals, networking inter-departmental collabora-tion, and technological advances and tools that they may utilize.

“There are 17 out of the 50 of us here at the firm that are in the Millennial genera-tion,” Brannan said. “We are growing in size. We’re the future of this firm so we need to treat this place as our own and think about

how we can make it better for the future.”Although the group is new, it has made a

significant impact on the firm. “One of the things we do in every group

meeting is use the polling system 'Poll Everywhere',” said Brannan. “That has really helped us to create some data to give back to the partners.”

“At our first meeting with the Millennial Group we asked them if they knew who to go to with questions and if they felt com-fortable going to someone with questions about the firm or their career,” Richmond continued.

“The overwhelming answer was no,” Brannan explained. “People didn’t feel like they knew who to go to. They didn’t feel comfortable going to people with questions about their career or the firm. So from that I took that to Chris who encouraged us to create a mentorship program.”

Brannan’s desire to make a difference at his firm did not go unnoticed. His coworker Mary Milner nominated him for the Soci-ety’s Emerging Leader Award and he was selected as one of five recipients of the award for 2016.

Millennials and Mentors

35SPRING 2016

understand. They wanted to know my story. I was afraid it was going to be a problem and it wasn’t.

“I think the first step begins with the people in charge of hiring having an open mind and seeing the value people can bring when they’ve had different experiences,” Milner continued. “When they look at a résumé, if they’ve been in a different profession, don't automatically discount them. I think I got lucky here that’s what Baden Gage did. They didn’t discount me because I didn’t have accounting experience."

Bold ChallengeOne of the four “bold challenges” created by the Indi-

ana CPA Society Board of Directors is to “Build bridges to the profession ...” and one of the bridges must be the bridge for nontraditional students.

“We tend to focus our energies on current high school and traditional college students as potential future CPAs,” said Caldwell. “We value the longevity and new ideas that youth brings with it, but more mature candidates have their own advantages. When I returned to the hospital as a CPA, I brought with me my previous work experience and understanding of how a hospital operates, as well as the appreciation for the hospital culture and our 'patients first' focus."

The Society is working on reaching nontraditional stu-dents and encouraging them to pursue a new career in the CPA profession.

“Nearly every day I receive a phone call from a person considering a career change or wanting more information about the CPA designation, specifically the process applying and sitting for the CPA Exam,” said INCPAS Director - Diversity & Outreach Ali Paul. “They are often relieved to learn that depending on their previous college education, only a handful of additional classes may be needed to meet the 150-hour requirement in Indiana.”

The Society’s Diversity Advisory Council is developing a new toolkit to help career changers and nontraditional students better navigate the pathways to becoming CPAs. The goal is to help make the process as clear as possible and give candidates a better idea of what they can expect as they enter this profession.

Career changers bring so much experience to the table and when you think about the core competencies of a CPA (Communications Skills, Leadership Skills, Critical-Thinking and Problem-Solving Skills, Anticipating and Serving Evolving Needs, Synthesizing Intelligence to Insight, Integration and Collaboration) these are skills that career changers have been developing for years, allowing them to really hit the ground running upon entering the CPA profession.

“It’s a whole different experience trying to go to school when you already have a full time job and I was starting a family,”

The mission of the CPA Center of Excellence® is to enhance vital business skills for the success of CPAs and other professionals. Look for articles about networking, communication and critical thinking skills, decision making and leadership in future issues of CPA IN Perspective.


THE INDIANA CPA SOCIETY CELEBRATED THE BEST AND THE BRIGHTEST ON MAY 13. More than 500 guests attended at the Indiana Roof Ballroom in downtown Indianapolis. Over 100 Successful Exam Candidates were recognized for passing the CPA Exam. CPA Celebration recognizes CPAs who have served their profession and/or communities in an outstanding manner. The contributions these professionals make reflect positively on the individuals as well as the CPA profession. The following 14 major award winners were honored at CPA Celebration.

CPA Advocacy Award Philip K. Jackson, CPA, CGMASenior Manager, Blue & Co., LLC | INCPAS Member Since: 2003

Philip Jackson has been closely involved with advocacy for the CPA profession and the Indiana CPA Society for many years. His contributions to his employer include monitoring legislation, both from a tax and professional standpoint. He is the current vice-chair for the Society’s Tax Resource Advisory Council and attends the AICPA National Tax Conference on behalf of the Society. Jackson has also served as an INCPAS Legislative Key Person, member of the Leadership Cabinet and a member of the Emerging Leaders Alliance.

Emerging Leaders Awards Aaron M. Brannan, CPASupervisor, Baden, Gage & Schroeder, LLC | INCPAS Member Since: 2013

Aaron Brannan has played an instrumental role in the introduction of several new and innovative contributions at Baden, Gage & Schroeder. Last year, he formed the Millennial Group with a mission of creating an

FEATURES

INCPAS Honors Indiana’s Top CPAs

Philip Jackson

37SPRING 2016

open forum for the exchange of ideas, encouraging the entrepreneurial spirit, and educating the group on career growth topics. Brannan has also been instrumental in the implementation of the firm’s mentorship program which promotes professional and personal growth among employees. Additionally, he implemented the use of SmartSheet, a cloud-based tool used to collaborate with clients.

Andrea E. Castle, CPASenior Manager, Crowe Horwath LLP | INCPAS Member Since: 2002

Andrea Castle’s nomination was full of praise for her work empowering women to take ownership of their personal and professional development. She is the recipient of six Living Our Values Awards which recognizes staff who successfully bring Crowe’s values to life on a daily basis. Castle was selected to participate in Women Leading @ Crowe program because of her exceptional performance in her business unit, an ability to inspire others, demonstrated thought leadership and willingness to take risks. Castle spends 40 hours annually developing, preparing and facilitating training content. She also serves as the Butler University School Relationship Manager for Crowe.

Eric M. Woodruff, CPAAudit Manager, Sponsel CPA Group, LLC | INCPAS Member Since: 2005

One of the greatest ways Eric Woodruff is a leader is through his excellent leadership. He has been involved with mentoring staff at Sponsel CPA Group and helping them progress in their careers. Woodruff led the restructure of his firm’s college recruiting process which resulted in more than doubling their college hires this year. He has also been involved in several business development activities resulting in increasing his firm’s client base. Woodruff’s community involvement includes serving on the finance committee of Jameson Camp.

Patrick R. Lee, CPATax Senior Manager, Kruggel Lawton CPAs | INCPAS Member Since: 2010

Patrick Lee has quickly established himself as a trusted leader at Kruggel Lawton since joining the firm in 2011. He is committed to developing strong, meaningful relationships with his clients. Lee is recognized by his coworkers for exhibiting the admirable characteristics of a CPA: integrity, honesty, professionalism, service and a compassion for others. In 2015, He was selected as part of an internal “Frontier Team,” charged with leading the firm’s strategic planning process. Lee’s ideas and professional commitment to the firm and his colleagues have added significant value

to their planning process.

Kathleen A. Nagy, CPADirector of Finance & Accounting, Bcforward | INCPAS Member Since: 2011

Katie Nagy joined BCforward in 2014 and was promoted to director of finance and accounting last year. Her technical skills and global experience will continue to assist BCforward with future growth. Her strengths include assisting in the setup of their Mergers and Acquisition team, completion of a successful acquisition, a new system implementation and the setup of a new subsidiary. Nagy was also actively involved in the implementation of new front office software and an upgrade of their GL system.

INCPAS Chair Steve Beardsley greets members during the reception hour.

Members spent the remainder of the evening playing casino games.


Outstanding CPA in Community Service Awards Joseph L. Brown, CPAPartner, Rodefer Moss & Co. PLLC | INCPAS Member Since: 1984

Joe Brown is an exceptional leader at Rodefer Moss & Co., specifically in the area of community service. In his 35 years as a CPA, he has served his community through volunteering, serving on boards and committees of charitable organizations, and leading fundraisers. His contributions have helped to restore financial health to many non-profit organizations in danger of financial failure as well as financially strengthening other non-profits in his community. A few of the organizations he has served, include the Salvation Army, Indiana University Southeast, Southern Indiana Metro United Way, and the New Albany Floyd County School Corporation.

Sara C. Jacobi, CPADirector, Blue & Co., LLC | INCPAS Member Since: 1998

Volunteerism has always been important to Sara Jacobi. She recognizes the many people who have invested time in her own life and feels it’s her duty to pay it forward and give of her time and talents as a way to repay those who have helped her. Jacobi has dedicated over 10 years volunteering with Big Brothers/Big Sisters, served as president of

kidscommon, the Columbus Community Children’s museum and as committee member for the United Way of Bartholomew County.

John J. Minnich, CPA, CGMA, MacctAssistant Professor of Accounting, Manchester University | INCPAS Member Since: 2002

John Minnich has a passion for sharing his knowledge and financial expertise with nonprofits so they can achieve their mission. During his time serving as treasurer, he recommended and implemented improvements in one organization’s financial procedures. For another organization, he co-led the implementation of a new fundraising event that resulted in $60,000 of revenue in its first year. Minnich started the first accounting club at Indiana Tech. He also uses his connections within the community to assist students in finding internships, jobs and gaining an understanding of the wide variety of options available to them in the CPA profession.

Outstanding CPA in Business & Industry Award Mary Ann Shacklett, CPASenior Vice President Finance & CFO, Community Foundation of Northwestern Indiana | INCPAS Member Since: 1989

Mary Ann Shacklett is senior vice president of finance and CFO for Community Foundation of Northwest Indiana, Inc. She has been with the system for 30 years and has moved up the corporate ladder to the top financial position in the organization today. Shacklett spearheaded the attainment of the largest bond issue of the system in the amount of $170 million in 2012. Under her leadership, the healthcare system’s Standard & Poor rating was upgraded four times since 2008. Because of her contributions, the hospitals and senior living community of Community Healthcare System have been able to move forward in their mission to enhance the quality of life in Northwest Indiana.

Outstanding CPA in Public Practice Award Trudy J. Stock, CPA, CGMAPresident & CEO, Harding, Shymanski & Co. | INCPAS Member Since: 1987

Trudy Stock is a role model for others who wish to pursue leadership roles in the business world. Stock displays a genuine interest in others and routinely invests time in staff at all levels within the organization. As a mentor, she is instrumental in setting goals, offering support and giving sound career advice. She also ensures that tools and peer support are available through internal and external coaching programs. As a business

Emerging Leaders Award Winners from left to right: Patrick R. Lee, CPA, Kathleen A. Nagy, CPA, Eric M. Woodruff, CPA, Andrea E. Castle, CPA, Aaron M. Brannan, CPA

Mary Ann Shacklett, CPA

Kent J. Williams, CPA, CGMA

Trudy J. Stock, CPA, CGMA

Mark L. Hildebrand

FEATURES

left to right: Joseph L. Brown, CPA, Sara C. Jacobi, CPA, John J. Minnich, CPA, CGMA, Macct

Bettie A. Caldwell, CPA, CGMA

39SPRING 2016

advisor, Stock is trusted by her clients to help them achieve their personal and professional goals.

Outstanding Educator Award Kent J. Williams CPA, CGMAAssociate Professor – Business, Indiana Wesleyan University | INCPAS Member Since: 1991

Kent Williams has been a professor at Indiana Wesleyan University in Marion for over 20 years. He utilizes his vast amount of professional experience and connections to benefit all those he teaches and mentors. Previous students speak of Williams’ outstanding moral fiber and calling on their professor when faced with ethical dilemmas in the workplace. He developed the entrepreneurship major at Indiana Wesleyan in 2005, and was recognized as a super CPA in education in Indiana Business Magazine’s Indiana Super CPAs in 2008. Williams served on the Society’s Board of Directors from 2010-15 and as chair in 2014-15.

Chair’s Award Bettie A. Caldwell, CPA, CGMADirector of Finance, IU Health Ball Memorial | INCPAS Member Since: 2001

Bettie Caldwell took an untraditional route to the CPA profession. She began her career as a registered respiratory therapist at Lutheran Hospital in Fort Wayne. She later went back to school and received an accounting degree from Anderson University in 2002, passed the CPA Exam in 2003, and achieved her CPA license in 2004. Caldwell has worked in both public accounting for Estep * Doctor & Co., PC, and in industry for Ontario Systems, LLC, Clarian Health and LifeStream Services, Inc. She currently serves as

director, finance for Indiana University Health Ball Memorial Hospital. Caldwell’s leadership roles with the Society have included both Leadership Cabinet and the Board of Directors with the last two years as vice chair.

Distinguished Service Award Mark L. HildebrandRetired, Crowe Horwath LLP | INCPAS Member Since: 1976

Mark Hildebrand had over 40 years of management and consulting experience with Crowe Horwath LLP before his retirement in 2012. During his eight-year tenure as CEO, Crowe Horwath became one of the 10 largest firms in the United States. From 1999-2012, Hildebrand served on the Crowe Horwath International Board, and as chairman for five years. He chaired three strategic planning committees over 12 years, helping formulate the network’s strategic vision and plan. During his years as a board member and chairman, was responsible for overseeing the transformation of Crowe Horwath International into a globally branded and recognized network. Hildebrand’s leadership and oversight of network strategy resulted in a common core purpose, a common set of values and a common management philosophy. The result of which contributed to substantial growth for Crowe Horwath International and favorable positioning in many of the key economic centers around the world. He was awarded the inaugural Crowe Horwath Lifetime Achievement Award in recognition of his contributions to the network in 2010.

Outgoing committee chairs, leadership cabinet and emerging leaders alliance members were recognized for their service.


FEATURESFEATURES

MENTORING PROGRAMS: Art or Science?entoring programs are garnering more and more attention as we see

our largest generation in the workforce nearing retirement, and the next

largest generation entering our organizations. These programs have

been around for years and haven’t taken hold for a number of reasons, including

the difficulty in choosing how you initiate the mentor/mentee relationship. Do you

assign mentor relationships when you hire someone? Do you require new hires

to find a mentor within their first 30 days? Do you have mentors sign up for your

program and require them to meet with their mentees in some interval? All of these

are good moves toward mentoring, and the more we know about how to build the

program, and then create the structure for it, the more success we will have.

M

41SPRING 2016

The additional challenge comes from the necessary transition of knowledge, also called succession planning, which has been avoided, circumvented, or otherwise uncomfortably advanced with little progress. How will you transfer the interpersonal skills and savvy while continuing to embrace technology as a tool for efficiency and profitability? What will you do to move your current culture into the future? These are questions leaders are asking, and the answers aren’t easy. Have your senior leaders consider the ramifications of no succession planning

What if we marry mentoring and succession planning? This provides a path to transfer business skills that happens when a departure is announced, without concern as to a specific timeline. Mentoring and training happens inside the current culture, which fosters growth and consistency to your organization. This also prepares the organization for generations to come, and your people remain engaged through new learning processes and interactions. We don’t have to reconcile the specifics of a succession plan on its own, we can include the revelations of a good mentor/mentee relationship to determine who is best equipped to succeed our departing leaders.

The challenge is creating the mentor program so that it is both desirable and sustainable. Successful mentoring programs have these things in common:

They are six to 12 months in length of commitment.

They have enrollment applications for both mentees and mentors. These forms ask what they want to get out of the program, and what they plan to give to it. The committee, or individual, that

reviews these applications can now consider how these line up when matching mentors and mentees.

Mentees and mentors create SMART goals together: Specific, Measurable, Attainable, Realistic, and Timely. This important element ensures you have clarity for the outcomes of the program, and that the mentee/mentor relationship is built with goals.

Establish success measures. Measure the success of the program by regularly measuring the participant skills that have been developed or improved.

Train people in the program. The mentees and mentors. Provide education and practice skills including communication, feedback, giving and receiving information, and where to give advice and where to coach. Set the training program before people commit, and be sure you have buy in to the training and the relationship. Programs with established training more than double the success rate!

Administer the program. Track communications and meetings, and evaluate the program during and after (surveys, face to face interviews). Look for ways to improve, revise, and enhance before you initiate your next program.

Mentoring is an art, a craft that can be honed with practice. Many professionals deem themselves “too busy” to mentor, and others profess their love of it, and avoid meeting with their mentee. This is where the science comes in, to guide the professional relationship with finite time requirements, intentional training and applications that make the best match possible, and measures the results on regular intervals.

Courtesy of Judy Hissong, PCC. Judy is the president of Nesso Strategies, a company built on passion for maximizing human potential. Judy is an accredited coach, facilitating retreats, coaching individuals and teams, and building and developing leaders. She can be reached at [email protected] and (619) 546-7885.

See author Judy Hissong at the INCPAS Not-for-Profit Conference on July 21 incpas.org/NFP


FEATURES

Upholding Integrity Continued from page 25...

Learning Survey Identifies Preferences, Needs Continued from page 28...

For more information on TRAC, contact Sherrill Rude, CAE [email protected].

GOVERNMENT RELATIONS ADVISORY COUNCILGRAC met on May 12 for their annual post legislative session dis-

cussion. Other items on the agenda included the Society’s legislative priorities for 2017, the peer review legislation that passed resulting in a new rule, the ethics rule proposal that will be considered at a public hearing at the Board of Accountancy meeting on July 15 the Board of Accountancy on May 20, and CPA Exam changes. Steve McConnell will attend the July Board of Accountancy meeting to share information on the exam changes. For more information on GRAC, contact Sherrill Rude, CAE [email protected].

INDIANA CPA-POLITICAL ACTION COMMITTEEThe PAC held conference calls on March 29 and April 20 that were the

first two rounds of discussions on contributions to legislative candidates for the May primaries. The first call also included a legislative update. Two more calls will be scheduled during the summer to discuss can-didate contributions prior to the November general election. For more information on PAC, contact Sherrill Rude, CAE [email protected].

ADVOCACY COUNCILThe first meeting of the Society’s new Advocacy Council is planned

to occur in either July or August. For more information on the Advocacy Council, contact Sherrill Rude, CAE [email protected].

CPAs is needed, while only 16 percent disagreed. Nearly 50 percent said more information was needed to form an opinion. A competen-cy-based approach simply means that competency must be demon-strated by some method in order for a participant to advance through or complete a course.

HOW EMPLOYERS HANDLE SOFT SKILLSA related question asked how the CPA’s employer addressed the

need to develop non-technical (soft) skills. Nearly 45 percent indicated their employer believes this education should be included within their 120 hours of continuing professional education every three years, while another 20 percent offer to pay for this training in addition to other (technical) continuing professional education.

PROFESSIONAL DEVELOPMENT PLANSThree other questions dealt with professional development plans.

More than 62 percent said they do not currently have a plan, and nearly 65 percent said they would like resources to help develop one. Of those that do have a plan, only 44 percent said that their skills development is actually assessed.

MOST-DESIRED PERSONAL SKILLSFinally, in terms of specific skills that are necessary to them person-

ally, communications came in first at 23 percent, while critical think-ing second at 19 percent, problem solving third at 18 percent, leader-ship fourth at 17 percent and analytical fifth at 16 percent. Among new hires, the skills most lacking were (in order) critical thinking, commu-nications, problem solving, analytical and leadership.

“The CPA Center of Excellence® had the foresight to develop resources that help CPAs prepare for the future,” said Jess Halverson Bowyer, strategist – CPA Center of Excellence®. “There is a clear need for soft skills development and assessment for CPAs at all career levels. The CPA Center of Excellence® has the education and tools to enable CPAs to increase their individual value, advance their personal careers, and expand their firm’s or company’s business.”

Further analysis of the data by the Indiana State University Scott College of Business faculty will be available in the near future.

43SPRING 2016

READ IT ONLINE

READ: For the complete articles, login to cpacoe.incpas.org.

Classifieds

FEATURES

Creating Competitive AdvantageHow the Controller Can Be a Full Partner in the Strategic Planning ProcessBy Dan Chenoweth, Executive Education, Inc.

I’ll never forget our company President’s wonderful speech vividly painting a compelling vision for the future of our business. He hit all the right notes for those of us in the audience — his direct reports. “We are the best kept secret in our industry.” “We can be #1 in our industry if we just apply ourselves.” “Let’s look at where we could be, where we should be in our marketplace, and shoot for the stars!” After the speech, he pointed to each of us, one-by-one, and asked “Do you believe we can do it?” And one by one we all replied, “Yes brother, hallelujah, I believe!” And we did! At least in that glorious moment...

Taking the Fear Out of Setting Higher, Value-Based Hybrid Fees By Salim Omar, CPA, CPA Marketing Genius LLC

Almost every practice owner I mentor wrestles with the pricing ques-tion. It’s a nail-biting subject that causes more worry than necessary. In fact, when approached properly, setting your fees could be one of the easiest things you’ll ever do in your practice! Sound hard to believe? Read on.

Admittedly, one of the biggest problems we face as a profession is that practices have taken their collective intellectual capital and commod-itized it into a one-dimensional billing rate. This is a serious mistake...

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THE SOCIETY

CPA Center of Excellence® – Succession Solution?

In my February 2013 blog, Succession or Transition – You Choose, I contrasted the dif-ferences between succession planning and transition activ-ities when it comes to leader-ship development. Succession planning is long-term focused. It is all about developing a culture and processes that seek out the best and the brightest to join your organization, investing the time and personal energy to clearly define the personal characteris-tics, competencies and experi-ences necessary for these individ-uals to take full advantage of their career development opportuni-ties, and then providing them the training and tools for success. Simply put, if the goal is filling

the pipeline with future leaders, “begin with the end in mind.” By contrast, transition planning focuses on the orderly redistribu-tion of leadership responsibilities to ensure the continuation of short-term activities.

For CPAs, the dilemma it seems is finding the proper balance between the development of the technical skills our professionals must possess to effectively serve our clients and employers, with those business or career success skills necessary to effectively lead the efforts of others in meeting the needs of clients and our organizations. With the increasing complexity of the business chal-lenges facing our clients, and the need for greater responsiveness

to these challenges, simply meeting the technical development needs of our people is a struggle for many of us at times. We routinely hear from INCPAS members that “staying current” is among

the most pressing issues they face today. If this is the world we live in, how do we

make the shift or find the time to address the leadership develop-ment of our team? I believe a very effective response to meeting the leadership development needs of the future leaders of our profes-sion is taking advantage of the many resources the CPA Center of Excellence® has to offer.

The CPA Center of Excellence® was created by INCPAS through the work of more than 100 Society members and is built on the foundation of advancing the CPA profession’s critical success skills through education, assessment and knowledge sharing. The Center offers a variety of tools, resources and creative educa-tional opportunities to improve those skills in order to meet future client, employer and environ-mental needs and demands. The

Center emphasizes a competen-cy-based learning model and intelligent collaboration designed to assess your team’s current mastery of these critical compe-tencies, and a roadmap to address the knowledge gaps identified to provide for long-term career success.

I believe the CPA Center of Excellence® is the greatest member benefit to be offered during the 20 years I have been a member of the Indiana CPA Soci-ety. If you agree succession is an important issue for your organiza-tion, and the development of your people is vital to addressing this issue, I encourage you to explore the resources available through the CPA Center of Excellence®. As with any important initiative or undertaking, remember “begin with the end in mind,” and that there is absolutely no reason “to reinvent the wheel.”

How has your firm or company addressed the need for succes-sion planning? What experiences, positive or negative, have you encountered so far along that path? Originally posted February 16, 2016, on cpacoe.incpas.org/blogs

During the past several years, our profession, like many others, has identified the need for an orderly and effective transition of leadership to the next generation of professionals as a critically important business issue. While much attention has been focused on this issue recently, the need to attract, retain and develop human capital in an organization is not a new issue. So why do so many organizations continue to struggle with the recruitment and development of the next generation of leaders?

As Seen on The Smoke Detector

By Bob Reynolds,

CPA, CGMABrady Ware

Smoke Detector SampleCybersecurity is Not Only a Threat, But an Opportunity For CPAsBy Rebekah Payne, CPA, KB Parrish & Co, LLP

It’s no surprise that cybersecurity continues to be a significant concern throughout the CPA profession considering the high profile data breaches that have

occurred in recent years. What exactly does cybersecurity entail? In general, cybersecurity is the measures taken to protect computers and computer systems against unauthorized access or attacks. This includes understanding potential threats and developing strategies that address identity management, risk management, and incident management.

A recent article published by USA Today revealed the top cybersecu-rity predictions for 2016. Following is a selection of these predictions.

• With an increasing number of products (e.g. cars, refrigerators, televisions, copy machines, smartwatches) being connected to the Internet, the Internet of Things will become a prime target for hackers to exploit.

• As more and more data migrates to the cloud, hackers will focus on infiltrating the cloud. The cloud may be more vulner-able due to the security measures used by people utilizing the cloud rather than inherent security weaknesses in the compa-nies providing cloud services.

Originally posted January 26, 2016. For the full blog, go to cpacoe.incpas.org/blogs.

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Indiana Wesleyan University is proud to congratulate Kent Williams on being

named the Indiana CPA Society Accounting Educator of the Year! Kent’s efforts and

achievements are a great representation of how the DeVoe Division of Business at

IWU encourages the integration of faith and leadership in business.

The IWU DeVoe Division of Business offers majors in Accounting, Business

Administration, Entrepreneurship, Finance, Management and Marketing. Programs

are infused with the application of ethics and values and are distinguished by an

emphasis on applied learning.

Nearly 3,000 students are enrolled in traditional programs on the IWU’s beautiful

350-acre residential campus in Marion.

I N D I A N A W E S L E Y A N U N I V E R S I T Y

DeVoe Division of

BUSINESS

Congratulations Kent Williams!

indwes.edu

KENT WILLIAMSCPA, CGMA, MBA

Photo Credit: Zach Dobson

Indiana CPA Society Accounting Educator of the Year

Indiana Wesleyan University is proud to congratulate Kent Williams on being

named the Indiana CPA Society Accounting Educator of the Year! Kent’s efforts and

achievements are a great representation of how the DeVoe Division of Business at

IWU encourages the integration of faith and leadership in business.

The IWU DeVoe Division of Business offers majors in Accounting, Business

Administration, Entrepreneurship, Finance, Management and Marketing. Programs

are infused with the application of ethics and values and are distinguished by an

emphasis on applied learning.

Nearly 3,000 students are enrolled in traditional programs on the IWU’s beautiful

350-acre residential campus in Marion.

I N D I A N A W E S L E Y A N U N I V E R S I T Y

DeVoe Division of

BUSINESS

Congratulations Kent Williams!

indwes.edu

KENT WILLIAMSCPA, CGMA, MBA

Photo Credit: Zach Dobson

Indiana CPA Society Accounting Educator of the Year

CPA IN Perspective Spring 2016

Documents

Transcript of CPA IN Perspective Spring 2016