cscpapreview May Classes Rocky Hill, CT Brook Street, Building 2 Connecticut Society of Certified Public Accountants

Transcription

1 cscpapreview MAY 2009 May Classes Education and Research Foundation of the Connecticut Society of Certified Public Accountants 845 Brook Street, Building 2, CT Non-Profit Organization U.S. Postage PAID Hartford, CT Permit No. 751 advocacy community education

2 April/May CPE Calendar Member Early Bird Date Title/Express Code Location Standard/Early Bird Good Through CPE April 22 DOL Update with Ian Dingwall (DOL) $170/$150 4/7/09 4 May 1 The Secrets of Effective Public Speaking (PS-S1) $210/$180 4/24/ Governmental Accounting and Auditing Conference (GAA) Plantsville $260/$225 4/27/ Professional Ethics for CPAs AICPA Code of Ethics (Morning Session) (ETH514-A) $170/$150 4/29/ Professional Ethics for CPAs AICPA Code of Ethics (Afternoon Session) (ETH514-P) $170/$150 4/29/ Loscalzo s Deceptive Revenue Recognition and Other Accounting Techniques Recognizing the Warning Signs (DAT) $280/$245 4/30/ Destination Future: The Essential Event (09EE) Plantsville $125/$125 N/A 4 19 Technology Conference Day 1 (TEC1) $270/$235 5/4/ Family Business Entities: Today s Tax and Estate Planning Moves (FBEP) $295/$260 5/4/ Technology Conference (TEC) $410/$375 5/4/ Strategies for Wealthy High-Income Clients: Tax-Smart Ways to Build, Protect, and Preserve Family Wealth (SWHI) Cromwell $280/$245 5/5/ Loscalzo s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis (AFS) Meriden $280/$245 5/5/ Technology Conference Day 2 (TEC2) $270/$235 5/5/ Today s Small Business Owner: Maximizing Tax Planning Opportunities and Minimizing Tax Disasters (SBIZ-A) $280/$245 5/6/ Loscalzo s Mix and Match Sessions (LMM521) $280/$245 5/6/ Navigating the FASB Accounting Standards Codification (Session #1) (MM521-A) $85/$75 5/6/ International Accounting Standards: Differences with U.S. GAAP (Session #2) (MM521-B) $85/$75 5/6/ Common Peer Review Disclosure Deficiencies (and How to Solve Them!) (Session #3) (MM521-C) $85/$75 5/6/ How to Service Small Client Needs within the Framework of Professional Standards (Session #4) (MM521-D) $85/$75 5/6/ **Cost Allocation in Nonprofits: Who Gets It? (CAMN) Cromwell $280/$245 5/6/ **Auditing Nonprofits: Tips and Traps (ANTT) $280/$245 5/7/ **Cash and Tax Basis Financial Statements Preparation and Reporting (CTB) $295/$260 5/7/ Kess on Tax Legislation 2009: American Recovery and Reinvestment Act of 2009 (Morning Session) (CL4TA-A) $170/$150 5/11/ Annual Yellow Book Update and Review: A Realistic Approach (YBUR) $295/$260 5/11/ Kess on Tax Legislation 2009: American Recovery and Reinvestment Act of 2009 (Morning Session) (CL4TA-B) $180/$160 5/12/ Loscalzo s Guide to Tax-Exempt Organizations and the New IRS Form 990 (TEO-A) $280/$245 5/12/ Annual Accounting and Auditing Update: A Realistic Approach (AAUD) $295/$260 5/12/ Making Ethics Real: Cultivating an Ethical Organization (Afternoon Session) (MER) $170/$150 5/13/ Loscalzo s Not-for-Profit Auditing Made Easy (NFPME) $280/$245 5/13/ Financial Statement Presentation and Disclosure: A Realistic Approach (FSPD) $295/$260 5/13/ Making Ethics Work: Cases in Ethical Decision Making (Morning Session) (MEW) $170/$150 5/13/ Surgent McCoy s Advanced Critical Tax Issues for Limited Liability Companies and Partnerships (ACTL) $295/$260 5/13/ Loscalzo s Hands-On Guide to Understanding and Testing Internal Controls (HGTC-A) $280/$245 5/14/ Only Financial Officer 2.0: More Skills for the Small Company Financial Manager (OFO) $280/$245 5/14/ Surgent McCoy s Advanced Critical Tax Issues for S Corporations (ACTS) $295/$260 5/14/09 8 **AICPA members take $30 off the price. 2 advocacy community education

3 Specialized Knowledge Cost Allocation in Nonprofits: Who Gets It? (Express Code: CAMN) May 21 Cromwell Hopefully your parents taught you to share. But did they teach you how to account for the sharing of costs across functions in the nonprofit environment? This course will teach you the art of proper cost allocation in the nonprofit environment. Nonprofits are confounded and confronted with cost allocation problems for GAAP reporting, IRS reporting, and federal reporting. How nonprofits solve these problems has a significant effect on how donors, the IRS, and outside funding sources look at the nonprofit. Learn how to properly share costs within the nonprofit and avoid being sent to your room without dessert! Instructor: Daniel W. Bradley, CPA *Early Bird fee good through 5/6/2009. AICPA members take $30 off the price. Auditing Nonprofits: Tips and Traps (Express Code: ANTT) May 22 Auditing nonprofits is a challenge. Nonprofits and for-profits have inherent differences in structure, operation, and reporting. Auditors encounter a variety of clients with limited resources, quirky terminology, and unusual reporting. This course will assist you in tackling these challenges in the most effective and efficient manner. Gain practical tips on avoiding possible traps encountered along the way. Instructor: Daniel W. Bradley, CPA *Early Bird fee good through 5/7/2009. AICPA members take $30 off the price. CONTENTS: May Calendar Destination: Future Taxation Accounting & Auditing Loscalzo s Mix and Match..7 Ethics Registration Form Loscalzo s Not-for-Profit Auditing Made Easy (Express Code: NFPME) Audits of not-for-profit organizations can be challenging. Not-for-profits have their own specific accounting principles, giving rise to different audit issues. Many small- to mid-size not-for-profits lack sophisticated accounting personnel, causing challenges in the auditor s understanding of internal controls and assessment of risk. Learn to plan and perform audits for small- to mid-size not-for-profits as efficiently as possible. Instructor: Allen Fetterman, CPA Annual Yellow Book Update and Review: A Realistic Approach (Express Code: YBUR) May 26 This session has been extensively re-written to emphasize and clearly demonstrate the risk-based approach to auditing addressed in the 2007 revision of the Yellow Book. This hands-on seminar is a workshop that literally takes Yellow Book concepts out of the book and provides each participant with the tools and practical experience to effectively apply those concepts in real-world situations. This year s session places special emphasis on each of the topics in the 2007 revision including: independence, ethics, planning, supervision, risk-based approach to audits, internal control understanding, and responsibilities in a Yellow Book audit. Instructor: Gary A. Hotchkiss, CPA *Early Bird fee good through 5/11/2009. Only Financial Officer 2.0: More Skills for the Small Company Financial Manager (Express Code: OFO) May 29 The title Chief Financial Officer is not an accurate description of what many financial managers do because the word chief implies that the company has more than one. This seminar covers four major topics that are important to the financial manager who must do it all. Learn to resolve ethical conflicts, do more with less, and utilize strategic cost management. This seminar includes a group discussion of five cases. Instructor: Robert A. Angell, III, MS, CPA *Early Bird fee good through 5/14/2009. advocacy community education 3

4 Taxation Family Business Entities: Today s Tax and Estate Planning Moves (Express Code: FBEP) May 19 Family business entities are the lifeblood of everyday CPA practice matters. This exciting seminar will give you ready-to-use strategies to help your family C Corps., S Corps., LLCs, and real estate structures. Succession, tax, and asset protection moves will be covered. Don t miss out on the opportunity to build your knowledge and your practice. Instructor: Larry Stein, CPA, JD, LL.M *Early Bird fee good through 5/4/2009. Strategies for Wealthy High-Income Clients: Tax-Smart Ways to Build, Protect, and Preserve Family Wealth (Express Code: SWHI) May 20 Cromwell Join Larry Stein as he discusses tax, asset protection, and estate planning ideas for your wealthy, high-income clients. Larry will discuss new strategies for asset-rich individuals including IRAs, family homes, rental properties, S Corporations, LLCs, and family-limited partnerships. Asset protection ideas and tax planning ideas that cut taxes and preserve family wealth will be highlighted. The IRS has expanded their focus on wealthy, high-income clients it s time for you to join Larry Stein as he shows you proven practical tools for these clients. Instructor: Larry Stein, CPA, JD, LL.M *Early Bird fee good through 5/5/2009. Today s Small Business Owner: Maximizing Tax Planning Opportunities and Minimizing Tax Disasters (Express Code: SBIZ-A) May 21 Want to avoid tax disasters? This seminar shows tax professionals today s planning moves for small business owners. S Corporations, LLCs, tax accounting, fringe benefits, self-employment tax, deduction issues, compliance, penalty concerns, IRS audits, and much more will be discussed. Don t miss out on this exciting information-packed seminar! Instructor: Larry Stein, CPA, JD, LL.M *Early Bird fee good through 5/6/2009. We ve all been shaken by the cratering economy. It s a natural reaction to wonder what to expect next. DESTINATION: FUTURE the essential event May 18, 2009 The Aqua Turf Club, Plantsville Technology Futures 2009 presented by: Rick Richardson, CPA Get an engaging look at what major-market companies are doing and how their actions will affect us. See how emerging technologies will bring today s crazy ideas into tomorrow s reality. Rick will share his always popular personal technology forecast you will be astounded at what lies ahead. FutureThink presented by: Edie Weiner Discover how to change your mental framework so you see clearer and with less personal bias, what trends are shaping the early part of the 21st century, and what opportunities exist for the profession in this evolving socio-economic world. See with new eyes, gain perspective, and even laugh at the traps you might fall into (unless you attend this seminar) when leading yourself and your company into the future! CPE Credit: 4 Website: Cost: Single seats available for $125 each; firm table (eight seats) available for $ advocacy community education

5 Taxation Kess on Tax Legislation 2009: American Recovery and Reinvestment Act of 2009 (Morning Session) (Express Code: CL4TA-A) May 26 AICPA and CCH have joined forces with top tax experts Sidney Kess, J.D., CPA, and Barbara Weltman, J.D., who take a straightforward yet comprehensive look at 2009 tax legislation and related developments. Gain clear-cut guidance on the new law, including planning opportunities, pitfalls to avoid. Helpful planning pointers and observations, plus alerts to changes affecting 2008 income tax returns are integrated throughout the course to assist you in both grasping and applying the new law. Sample client letters will help practitioners inform their clients of the new law. Instructor: Douglas P. Stives, MBA, CPA, PFS $170 Member $150 Member $210 Nonmember $190 Nonmember *Early Bird fee good through 5/11/2009. Kess on Tax Legislation 2009: American Recovery and Reinvestment Act of 2009 (Morning Session) (Express Code: CL4TA-B) May 27 AICPA and CCH have joined forces with top tax experts Sidney Kess, J.D., CPA, and Barbara Weltman, J.D., who take a straightforward yet comprehensive look at 2009 tax legislation and related developments. Gain clear-cut guidance on the new law, including planning opportunities, pitfalls to avoid. Helpful planning pointers and observations, plus alerts to changes affecting 2008 income tax returns are integrated throughout the course to assist you in both grasping and applying the new law. Sample client letters will help practitioners inform their clients of the new law. Instructor: Douglas P. Stives, MBA, CPA, PFS $180 Member $160 Member $220 Nonmember $200 Nonmember *Early Bird fee good through 5/12/2009. Loscalzo s Guide to Tax-Exempt Organizations and the New IRS Form 990 (Express Code: TEO-A) May 27 Not-for-profits will face the challenge of filing a new Form 990 in This course helps those working with not-for-profits learn about recent major developments in not-for-profit tax law, including different types of tax-exempt organizations and the process for obtaining a tax exemption, the Congressional and IRS policies for amending the form, and how the new Form 990 specifically differs from the old form. Instructor: Allen Fetterman, CPA *Early Bird fee good through 5/12/2009. Surgent McCoy s Advanced Critical Tax Issues for Limited Liability Companies and Partnerships (Express Code: ACTL) An in-depth discussion of selected advanced-level issues affecting LLCs and LLPs. The focus is to analyze the unresolved issues of these emerging business forms. Major Subjects: How the IRS views members or partners for social security purposes Special problems when forming an LLC Partnership losses: when are they deductible? Continuation and termination in the context of a merger or acquisition Sales of an LLC interest Distributions: is it just a disguised sale? Death or retirement of a member or partner Instructor: John L. Evanich, Jr., CPA Standard Fees Early Bird Fees* Surgent McCoy s Advanced Critical Tax Issues for S Corporations (Express Code: ACTS) May 29 This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know. Even if you have attended other S Corporation courses, you will learn something new in this course. Major Subjects: Cases, rulings, and tax law changes affecting S Corporations Compensation planning in S Corporations, including limitations in a familycontrolled business Use of redemptions Planning for the liquidation of an S Corporation Tax issues for family ownership of S Corporation stock Stock basis (loss limitations, AAA, and distribution issues in depth) Built-in gains: tax valuation issues and estate planning Timing of cash and property distributions Instructor: John L. Evanich, Jr., CPA Standard Fees Early Bird Fees* *Early Bird fee good through 5/14/2009. advocacy community education 5

6 Accounting and Auditing Loscalzo s Deceptive Revenue Recognition and Other Accounting Techniques Recognizing the Warning Signs (Express Code: DAT) May 15 Don t join the growing list of accounting professionals in trouble! Hear the accounting stories behind more than 40 famous financial statement frauds such as Fannie Mae, McAfee, Parmalat, Tyco, Waste Management, and WorldCom. Learn to identify creative accounting practices used to deceive financial statement users and risk characteristics normally associated with fraudulent financial reporting, as well as how to apply revenue recognition accounting rules the right way. Instructor: Kenneth Heaslip, MS, MBA, CPA *Early Bird fee good through 4/30/2009. Loscalzo s Analyzing Financial Statements, Including Techniques for Cash Flow Analysis (Express Code: AFS) May 20 Meriden Re-examine traditional analysis techniques to recognize their strengths and limitations. Take analysis to a new level by incorporating cash-flow-based measurements. Utilize cases ranging from public companies to small privately-helds to assess profitability and management of resources. Instructor: Jack Ellovich, CPA *Early Bird fee good through 5/5/2009. Cash and Tax Basis Financial Statements Preparation and Reporting (Express Code: CTB) May 22 When there is a request for modified tax basis statements with disclosures omitted, are you confident your staff knows what to do? They will after they take this best-selling course that explains OCBOA statements as well as how the basis of accounting affects compilation, review, and audit procedures, financial statements (including notes), and accountant reports. Concisely summarizing the official standards, this course goes further by having participants apply their knowledge through numerous case studies. Instructor: Jack Ellovich, CPA *Early Bird fee good through 5/7/2009. AICPA members take $30 off the price. Annual Accounting and Auditing Update: A Realistic Approach (Express Code: AAUD) May 27 In this update workshop, participants will hear about new standards, and gain hands-on experience in applying those standards to real-life circumstances. Output of the Financial Accounting Standards Board will be addressed at all levels, as well as accounting oriented Statements of Position issued by the American Institute of Certified Public Accountants. Auditing and attestation standards will be addressed through a thorough analysis of the current output of the Auditing Standards Board and/or staff of the American Institute of Certified Public Accountants. Participants will leave this workshop with a working knowledge of when and how to actually apply new pronouncements in their particular professional circumstances. Instructor: Gary A. Hotchkiss, CPA *Early Bird fee good through 5/12/2009. Financial Statement Presentation and Disclosure: A Realistic Approach (Express Code: FSPD) This session is a must for any professional accountant tasked with development and presentation of financial statements destined for either an employer or firm client. This is a non-patronizing back-to-basics workshop that thoroughly reviews the appropriate formats for financial statements in numerous industries and provides a comprehensive review of what constitutes adequate disclosure in financial statements under various user scenarios. Topics related to financial statement presentation and disclosures when an other-comprehensive basis of accounting is used are thoroughly explored during this session as well. Numerous examples of formats and disclosure are provided to each participant. This is the comprehensive review of basic financial statement skills that virtually every peer review committee has been looking for! Instructor: Gary A. Hotchkiss, CPA Loscalzo s Hands-On Guide to Understanding and Testing Internal Controls (Express Code: HGTC-A) May 29 With the issuance of the AICPA risk assessment SASs, auditors have no choice but to better understand internal controls in order to assess the design of controls and determine if they have been implemented. This course provides the auditor of small- to mid-size entities with tips, tools, and techniques to efficiently document controls and determine where it is either necessary or more efficient to test them. Instructor: John M. Fleming, CPA, MBA *Early Bird fee good through 5/14/ advocacy community education

7 Accounting and Auditing Two, four, six, or eight credits you decide! Build your own CPE with Loscalzo s Mix and Match CPE sessions. Top-rated speaker Deborah Rose, CPA will lead four two-hour sessions. Each of these sessions are sold separately or, save up to $55 by registering for all four! Lunch will be provided to registrants attending all four sessions. Loscalzo s Mix and Match CPE Sessions Thursday, May 21 The CPA Center, To register for all four sessions, use Express Code LMM521. Session 1, 8:30 a.m. 10:10 a.m. Navigating the FASB Accounting Standards Codification (Express Code: MM521-A) All of GAAP literature as we know it will become a thing of the past as of July 2009, when the new FASB codification is expected to become the sole authoritative source for accounting research. Although the codification does not change GAAP, existing standard numbers (FASBs, FINs, TBs, SOPs, etc.) will be dropped in favor of areas, topics, and sections and the GAAP hierarchy will be eliminated. A number of live research examples will demonstrate access to and navigation around the codification website. Session 2, 10:20 a.m. 12 p.m. International Accounting Standards: Differences with U.S. GAAP (Express Code: MM521-B) With the increasing use of international accounting standards in this country and in other countries, many accountants find they have to develop an understanding of the international accounting standards and their differences from U.S. GAAP. Session 3, 12:30 p.m. 2:10 p.m. Common Peer Review Disclosure Deficiencies and How to Solve Them (Express Code: MM521-C) This program reviews the most common disclosure errors cited in peer review over the last decade. Learn to prepare disclosures for commonly deficient areas for privately-held companies. Session 4, 2:20 p.m. 4:00 p.m. How to Service Small Client Needs Within the Framework of Professional Standards (Express Code: MM521-D) Often a client requests financial information to be used by or given to others. Frequently, our first reaction is to locate the standards that require detailed SSARS reporting. However, in many cases, there are simpler options that CPAs are simply not aware of. This program discusses how to identify what s permitted in the literature and how to structure an engagement when the client request is not acceptable by professional standards. Instructor: Deborah Rose, CPA CPE Credit Hours: 2 each session Standard Fees Early Bird Fees* *Early Bird fee good through 5/6/2009. See calendar on page 2 for pricing of individual sessions. advocacy community education 7

8 Ethics Cross it off your list Sign up for an ethics class today! Making Ethics Real: Cultivating an Ethical Organization (Afternoon Session) (Express Code: MER) Making Ethics Work: Cases in Ethical Decision Making (Morning Session) (Express Code: MEW) Professional Ethics for CPAs AICPA Code of Ethics (Express Code: ETH514-A morning; ETH514-P afternoon) May 14 With the profession in the hot seat, CPAs need to be aware of standards and principles that impact the services they provide. Learn to identify independence issues and comply with other ethics requirements such as providing records, commissions and contingent fees, etc. Instructor: Kenneth Heaslip, MS, MBA, CPA $170 Member $150 Member $210 Nonmember $190 Nonmember *Early Bird fee good through 4/29/2009. Business ethics is no longer just something nice to do; it can mean the difference between success, failure, and survival in today s increasingly competitive environment. The key to successfully creating an ethical organization is balancing the conflicting needs of major stakeholders. Learn the financial manager s role in creating an ethical corporate culture in this fun, interactive seminar. This seminar includes a group discussion of four ethics cases. Instructor: Robert A. Angell, III, MS, CPA $170 Member $150 Member $210 Nonmember $190 Nonmember No matter how rotten your boss, the environment, or the situation you find yourself in, you must ultimately make the decision about what you will do when confronted with an ethical dilemma. What is the best way to determine the most ethical course of action? Which side in the dilemma has a higher claim to rightness? This seminar provides tools, tips, and templates to answer these questions. This seminar includes a class discussion of four ethics cases. Instructor: Robert A. Angell, III, MS, CPA $170 Member $150 Member $210 Nonmember $190 Nonmember Register online and save! The Plan and Save discount is available on Hurry! Offers ends on June 1, CSCPA CPE REGISTRATION FORM Check one: CSCPA Member # (Pays member fee) Member State CPA Society Member ID# (Pays member fee) CPE Subscriber (Pays member fee) Nonmember (Pays nonmember fee: member fee plus $40 on four-hour courses; member fee plus $75 on eight-plus hour courses.) (Register online at Express Code or Name It s quick. It s easy.) Course Title Firm Course Date Morning Session Afternoon Session Address Location City/ST/Zip Special Needs Phone Fax Course Fee $ Method of Payment: Check * MC, Visa, or AmEx *Course confirmations are ed. Please include a valid address. Credit Card # Expiration Date CVV Code NOTE: The Early Bird discount is applicable if the registration, Cardholder s Address including payment, is received by the CSCPA on or before the Cardholder s Name noted expiration date. Cardholder s Signature Duplicate this form for additional registrations. Make checks payable to CSCPA Foundation. Mail together with this form to: CSCPA Foundation 845 Brook Street, Building 2,, CT CSCPA CPE Phone: , ext. 235 Fax registrations with credit card to: Register online! It s quick. It s easy. May09 Pre