iowa cpa - september 2015

What has ISCPA done for you?By Cindy S. Adams, CPA, CGMA, CPCU; CEO, Iowa Society of CPAs

Have you noticed its darker outside in the morning? Sunsets creeping up on us a little earlier? Me too. If youre like most Iowans, these signs and the arrival of September cause a bit of panic as we know sum-mer is puttering to an end. As you try to

complete your warm-weather bucket list, I hope you are able to make the most of it. Its not over yet!

Renewal seasonSeptember also marks the arrival of ISCPA member-ship renewal season. This year, we decided that send-ing you a renewal form or email wasnt good enough. We wanted to show you what we did for our mem-bers this past year.

As we dug into some data, recalled events and looked at our organization, something became ap-parent. The 2014-15 membership year was pretty amazing! Take a quick tour of the highlights on the next page and see for yourself.

But just like summer, we arent done yet. ISCPA has seen big changes in the last year, and in the year to come, we remain on a steady path to move our orga-nization and the profession forward.

Where are we going?Your Society staff continues to look for, evaluate and deliver the best education, development and leader-ship programs to all levels and areas of membership. Building relationships and initiatives that contribute to community influence and visibility for Iowa CPAs, and a positive brand image for the profession will be a priority. And working together with our members, Iowas employers, colleges, and accounting students

to recruit and deliver talented CPAs to the employ-ment pipeline is vital to our success and yours.

Help us get thereThe demand for talent and increasing the number of Iowa CPAs is a challenge. Likewise, the demand for members to grow our organization, or even remain flat, is just as high. As more baby boomers reach retirement and step out of the profession and the Society, it is crucial that we work together to recruit new members and maintain the powerful alliance of accounting professionals that make up ISCPA. You can take the first step to do this by taking part in our October membership challenge!

Thank youThis Society could not do what we do without mem-ber involvement, feedback and support. Thank you to our board of directors, committee and task force volunteers, and countless others who work tirelessly for the profession and our organization. And finally, thank you to you, our members, for your past and continued membership. We look forward to advanc-ing your professional success.

Iowa Society of CPAs... Advancing the professional success of our members

September 2015

Newsletter from the Iowa Society of CPAs, your primary source for profession-related information

CPA

membersget it!

Joinmembersget it!Find out how you can win big during the October membership challenge, pg. 16!

What did do for you?Membership Year October 2014 - September 2015

ABOUT OUR MEMBERS

renew their membership

have been members for

10+ years

work in public accounting

work in business and

industry

are retired/other

work in education

work in government

92% 67% 45% 9% 3% 2%41%

IOWA CPA EDUCATION FOUNDATION2 $2,500 scholarships to Iowa college accounting students

AWARDS6 outstanding Iowa CPAs recognized at Annual Meeting

EXPANDED YOUR NETWORK247 new members500+ attended a networking eventRECORD-SETTING 235 at Annual Meeting & Leadership Conference

NEW VOLUNTEER OPPORTUNITIESBanking Industry CommitteeDiversity and Inclusion Task Force Iowa CPA Education Foundation Advisory CommitteeRegional Alliance Committee

EDUCATION

4.77 out of 5 average speaker-leader knowledge 5,000+ attended a conference or class

IMPROVED BUSINESS DEVELOPMENT 2 new member benefit programs

120% increase in sponsor dollars

1

Iowa CPAs Month of Service community event launched

years of ISCPA celebrated with you

0

opposing votes in Senate and House for Accountancy Act clean-up bill

schools visited for financial literacy outreach

1 coupling bill - first bill of the year signed by governor

2,700+ piggy banks distributed to Iowa kids1,500 Iowa businesses employ an ISCPA member

44 100

To learn more about what ISCPA can do for you, visit www.iacpa.org or email [email protected]

INSPIRED LEADERSHIP161 attended a Lunch with Leaders

279 volunteered for board or committee30% more members under 40 attended Emerging Leaders Conference

ATTRACTED TALENT TO THE PROFESSION300% increase in student members11 campus visits

Windows 10: Youre going to love it!By Randy Johnston

Its important to recall that the official end of life for Windows 7 was January, and it no lon-ger makes sense to deploy new or updated computers with older operating system. Windows 8.1 is more secure and faster, but suf-fers from unpopularity because of the redesigned menu. So what can you expect from the new Windows 10?

New start menuThis change from Windows 8 is an important concession to Win-dows XP and Windows 7 users.

The left half looks much like Windows 7. But the right half is a composite of scaled-down tiles. Both sides are customizable; you can click and drag or pin/unpin both menu items and tiles until the cows come home.

Drag a menu entry from the left side to the right side and it instantly turns into a tile. Unpin all tiles and you end up with a start menu that looks and works much like Windows 7.

Universal appsAn approach where Windows 8 apps, Windows Store apps, Modern apps (think Metro), and so forth, will now be called universal apps.

These will run on the standard desktop in their own floating, resizable windows much like Star-docks ModernMix.

Microsoft envisions that devel-opers can write a single app that runs inside Windows on the Windows 10 desktop and on Win-dows phones and tablets or on watches, refrigerators, servers, drones, etc.

In reality, a universal app will need slight modifications for different platforms, but the API calls should be consistent (if not

identical), no matter where the app finds itself.

Platform smartsWindows 10 determines wheth-er you have a keyboard and a mouse. If it finds a keyboard, it takes you directly to the desktop. If it detects no attached keyboard or if the keyboard is detached (like a convertible tablet PC) Windows 10 asks permission to take you to the Metro Start menu.

Microsoft calls this continuum. Windows 8.1 has some of this capability, but Microsoft still has a ways to go.

Multiple desktopsYou can run whatever you like on one desktop, then flip over to another and run something different. You could add virtual desktops to Windows as far back as XP with third-party apps.

This is a great feature for users who multi-task or fill multiple roles or projects.

Onscreen snappingUp to four programs can be snapped into the corners of the screen. A similar capability has been available in Windows Vista and 7, but only allowed splitting a single screen in half vertically.

Universal defined apps can be snapped just like standard pro-grams. Theres also a new task view icon that makes it easy to see and switch among running programs or different desktops.

Windows 10 will help you see why we began encouraging the use of large (30) monitors, though the OS still supports multiple moni-tors.

Although we usually discuss technology in the context of what should be considered in future

purchases, this release of both Windows 10 and Office 2016 should be adopted sooner rather than later. Your costs should be minimal, and the learning curve not too steep. Further, Im fore-casting your productivity will go up from these products that run faster, with stability and more us-ability than any release we have seen to date.

Read about what to expect in 2016 for Windows 10 and more. Access the full article at www.iacpa.org/Libraries/publications/Windows_10.sflb.ashx.

Randy Johnston is a member of K2 Enterprises, where he develops and presents continuing professional educa-tion programs to accounting, financial and other business professionals across North America. Contact Randy at [email protected].

www.iacpa.org Iowa CPA | September 2015 | 3

Issue No. 2015-09

Published eleven times per year by the Iowa Society of Certified Public Accountants (ISCPA). Send address changes, advertising in-quiries and all correspondence to:1415 28th St., Ste. 450West Des Moines, IA 50266-1419

Email: [email protected]

Website: www.iacpa.orgor, contact the ISCPA office:515-223-8161/800-659-6375

Front page photo by Jim Heemstra Cedar Rapids

4 | Iowa CPA | September 2015 www.iacpa.org

1-800-397-0249The Holmes Group

[email protected]

When it is time to transition out of your practice you want to do it right. We are the largest facilitator in North America for selling accounting and tax practices. We provide a free estimate of your firms value, market extensively, assist in negotiations and find you the right situation. Contact us today so your last decision will be your best.

YOUR LAST DECISIONIS THE BIGGEST.

2015 ISCPA award recipients

CPA leadership award nominations due Oct. 10

Do you know an Iowa CPA who demonstrates a commitment to the profession and has made a positive difference in the busi-ness and/or general community? Nominate them for one of these prestigious ISCPA awards:

Public Service Outstanding CPA in Business and Industry Rising Star

Nomination deadline is Oct. 10. Award in-formation and nomi-nation forms can be found on the home page of www.iacpa.org. Awards will be presented at the ISCPA Annual Meet-ing & Leadership Conference, Friday, May 6, 2016.

Volunteer for CPA Month of Service

Theres still time to plan an activity in your community and be a part of the first Iowa CPAs Month of Service. You may complete your volunteer ac-tivity through Sept. 30 so register no later than Sept. 25 at https://goo.gl/6WVUpx. Learn more about this event at www.iacpa.org.

Share your pictures and videos. Take pictures or videos in your volunteer t-shirt and utilize social

media at your volunteer activity or project.

Upload a picture or video of your CPA Month of Service action to Instagram using the hashtag #iowaCPAservice and #iowaCPAsgoHAM if you are volunteering for a food bank ac-tivity during Septembers Hunger Action Month.

Tweet to @IowaCPAs and use the event hashtags.

Share photos of your service in action on ISCPAs Facebook page.

All other photos and vid-eos: We want your pictures and videos! Please submit all photos and video clips to [email protected].

Lt. Gov. Kim Reynolds and Gov. Terry Branstad proudly show off their Month of Service t-shirts.

ISCPA CEO Cindy Adams (right) at Hunger Action Month proclamation.

If you are attending a class or other event at ISCPA in September, please donate a non-per-

ishable food item for Hunger Action Month.


In Balance: work/life well-beingBy Connie Muell, Family and Workplace Issues Committee

Editors note: In Balance is a se-ries from Iowa CPAs featuring a variety of topics to improve your work/life well-being.

Its hard to believe another summer is almost over. No matter what stage you or your family are in young kids, older kids, no kids the end of summer is usually a transition period for many and a time to get back into some form of routine.

By the time you read this, many schools and fall activities have already started. This initial change can be exciting with new beginnings for everyone, but after a while, our enthusiasm for the newness of it all may wear off for parents and kids alike. A certain amount of anxiety and undue stress can make its way into our lives during this time. How can you stay on track and keep everyone happy? Heres a few suggestions:

Be compassionate with your kids. You know how hard it is to come back to work after a week off. Try coming back after nearly three months! Be patient and give your kids time to adjust to their new schedule. When the schoolwork gets tough, talk to them about how important a good education is. They need to know that their hard work will pay off.

Establish a routine. Ensure the morning sets the tone for the day by allowing yourself and your family plenty of time to get ready. Do as much as you can the night before: set out clothes, make lunches, plan breakfast. Start the day off on a positive note. Tell your kids to have a good day, even if by means of a text to older kids. They appreciate it, even if they dont say so.

Flex your time for after school/work routines. Transporting kids to activities, taking care of younger kids at home or picking up from daycare, etc. can be a challenge. Fortunately, employers are realizing the importance of allowing flex time to help accom-modate employee needs.

Just say no. The push for kids to be in activities seems to be more prevalent in our society. While thats important, remember that kids need decompression time too. Fit that in after school or in the evening. The quality of their activity is more important than the quantity so dont push too much. Teach yourself and your children that its okay to say no sometimes.

Use a family calendar. Keep ev-eryone informed of who is going where and what for. Involve the whole family and complete the calendar together. You can use a techie app calendar, a dry erase board or the good old wall calen-dar. Visual displays are great for everyone to see.

Come together as a family as much as possible. Did anyone else laugh at this? Trust me, the older your kids get, the harder this becomes. It can be breakfast, lunch, dinner, snacks or ice cream; the key is to take the opportunity when you are all together just to check in and stay up to date on each others lives. This time is truly precious, and kids will re-member and benefit from it.

Dont forget to set time out for yourself. Adults tend to ignore their own needs until it is too late. Keep yourself refreshed by exer-cising, getting enough sleep and eating right. Our family needs us!

Hopefully, some of these sugges-tions will help you in your busy

lives. All families are different, so the goal is to use whatever meth-ods work for you. Another year will be gone before you know it, so be flexible, work together and be happy!

Connie Muell is a manager at Tunink Murray Financial Group in West Des Moines. She has been an ISCPA member since 2006.

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INTEGRITY. PRECISION. SECURITY.

2 x 4

New membersBrittany N. BellowsAllsteel IncMuscatine, IA

Devin J. CavanaughMcGladrey LLPIowa City, IA

Michael B. ClarkCampbell Higgins &

Mummert PCSpencer, IA

Cassie M. CrabillMcGladrey LLPDubuque, IA

Paul J. CurranWest Des Moines, IA

Alex A. DraegerT P Anderson Company

PCHumboldt, IA

Abby C. EischenErpelding Voigt & Co LLPAlgona, IA

Josh M. FaivreWipfli LLPSterling, IL

Katherine E. FarlowIowa State UniversityAmes, IA

Andrew C. FollmannErnst & Young LLPDes Moines, IA

Matthew A. GardinerGardiner Thomsen PCUrbandale, IA

Mallory HobertDeloitte & Touche LLPDes Moines, IA

Tracy A. NovotnyGlobal Tax Network

US LLCMarion, IA

Benjamin A. PyleD D Pyle Company PCAmes, IA

Stella K. RundeHonkamp Krueger

& Co PCDubuque, IA

Michael D. SchlitterErpelding Voigt & Co LLPOkoboji, IA

Whitnie J. SchwartzHonkamp Krueger

& Co PCDubuque, IA

Dr. Gregory P. TapisAugustana CollegeRock Island, IL

Richard R. Van LaarTD&T CPAs and

Advisors PCCedar Rapids, IA

Kevin G. WaibelDeloitte & Touche LLPDavenport, IA

Lisa A. WigingtonHonkamp Krueger

& Co PCDubuque, IA

Timothy P. WilliamsMcCoy National LeaseDubuque, IA

Kyle A. WoiwoodLWBJ LLPAmes, IA

Exam-qualified AffiliatesChad A. CramerLattaHarris LLPGrundy Center, IA

Craig KerperBohr Dahm Greif &

Associates PCCedar Rapids, IA

Robert S. SteinhoffBohr Dahm Greif &

Associates PCCedar Rapids, IA

Professional AffiliatesChad A. StecherHonkamp Krueger

& Co PCMoline, IL

David WallTarbell & Co PLCDes Moines, IA

Members in the newsGreg N. Kopp, Ernst & Young LLP,

Des Moines, was promoted to executive director.

Abby L. De Zeeuw, Cain Ellsworth & Co LLP, Sheldon, was promoted to principal.

James R. Pistillo, Caseys General Stores Inc, Ankeny, was promoted to vice president of accounting and treasurer.

The following personnel from LWBJ LLP, West Des Moines, have been promoted: Rebecca E. Allen to senior tax manager; Brandon R. Pratt to tax manager; Stacie M. Grimm

to audit manager; Zachary S. Gates and Amy J. Randeris to audit supervising senior; Bradley A. Weiss to audit senior.

The following personnel from McGowen Hurst Clark & Smith PC, West Des Moines, have been promoted: Michelle R. Leonard (Winterset) and Tabetha N. McCormick to senior accountant; Ashley M. Sly and Michael K. Jensen to supervisor; Trisha R. Gross, Kara K. Hogue, and Ashley A. Mowery to manager.

Student affiliatesDes Moines Area Community College Kaytlin D. Norris

Mount Mercy University Hannah Starks


Networking event

Sept. 10 Tailgate Happy Hour, 5-7 p.m.Wellmans Pub & Rooftop, West Des Moines

Kick back, relax and join your fellow accounting peers for happy hour hosted by ISCPAs LEAP and Membership Committees. Show your favorite team some love by sporting your Hawkeye, Cyclone, Panther or Bulldog gear. Enjoy complimentary ap-petizers, and your first drink on us! Prize drawings throughout the event with a grand prize drawing for two tickets to the Iowa vs. Iowa State football game on Sept. 12 in Ames! RSVP by Sept. 8 to [email protected] or call 515-223-8161 or 800-659-6375.

Need-to-know news and advice for leaders emerging in the accounting professionLEAP forward

ISCPAs LEAP Committee provides education, networking and development programs across the state for members 40 and under. Visit www.iacpa.org/AboutISCPA/AboutLEAP for detailed information about these events and register today.

FREE for all members!Join ISCPA at an upcoming Common Grounds in your part of the state. Get the latest information on current issues in the profession, enjoy some refreshments, and have an opportunity for conversation with other CPAs. Register by calling 515-223-8161/800-659-6375 or email [email protected]. Members attend for FREE, invite a nonmem-ber to attend with you! Visit www.iacpa.org for location details.

Hosted by the Southwest Regional Alliance

Nov. 12 Council Bluffs 8:3010 a.m.

Hosted by the Central Regional Alliance

Sept. 17 West Des Moines 7:30-9 a.m.

Nov. 19 West Des Moines 7:30-9 a.m.

Hosted by the Southeast Regional Alliance

Oct. 6 Iowa City 89:30 a.m.

Oct. 6 Burlington 45:30 p.m.

Regional eventsSept. 10 Davenport Professional Issues Update with ISCPA CEO Cindy Adams and Illinois Society CEO Todd Shapiro

Common Grounds

Lunch with Leaders

Oct. 9 West Des MoinesA Life Worth Living

Featured leader: Milton Aunan, vice president and CFO, UnityPoint Health-St. Lukes Hospital, Cedar Rapids

Nov. 20 Des MoinesWhy Mentors Matter

Featured leader: Dan Keough, chairman and CEO, Holmes Murphy, West Des Moines

Register at www.iacpa.org/AboutISCPA/AboutLEAP.aspx

Sponsored by:

Join us at an upcoming regional EXTRAvaganza

featuring Jeremy Wortman

October 7 CarrollOctober 8 West Des

MoinesFind out how to pull your com-pany and employees together.

Create an experience that helps employees under-stand their strengths and how they can leverage them to better the overall perfor-mance of the company.

Take your organizations greatest asset your em-ployees and learn more about them to maximize company alignment.


Classified adsIOWA PRACTICES FOR SALE: Cedar Valley Area Tax & Account-ing Practicegross $394K; Des Moines Area CPA Practicegross $60K; Northeast Iowa (Near Waterloo/Cedar Rapids) Tax & Acctnggross $240K; Central IA (near Des Moines) CPA Practicegross $195K; Northwest IA CPA Practicegross $603K. For more information about these great listings or others in your area, call 1-800-397-0249. View listing details and register for free email updates at www.Accounting-PracticeSales.com. Thinking of Selling Your Practice? Account-ing Practice Sales is the leading marketer of accounting and tax practices in North America. We have a large pool of buyers, both individuals and firms, looking for practices to purchase. We also have the experience needed to help you find the right fit for your firm, negotiate the best price and terms and get the deal done. To find out more about our risk-free and confidential services, call Trent Holmes at 1-800-397-0249 or email [email protected].

EXPERIENCED CPADue to con-tinued growth, Campbell Higgins & Mummert PC, a full-service, progressive CPA firm in Spencer, IA, is seeking a motivated CPA with 2+ years of public account-ing experience. Duties will include tax planning and preparation, financial statement preparation, accounting and consulting servic-es, and professionally managing client relationships. We are proud to offer a competitive salary, a comprehensive benefit package, a friendly office environment, with opportunity for growth within the firm, including ownership poten-tial. If you are looking for a better work life balance, please contact Teresa Steuben: [email protected] or 712-262-5476.

AUDIT PROFESSIONALSBrooks Lodden, PC, a large, established West Des Moines-based CPA firm, is seeking audit professionals with 3-8 years of experience for our audit staff. We are looking for individuals with experience working with larger closely-held businesses and nonprofit organizations. CPA designation is required. Excel-lent compensation and benefit package available, along with advancement potential. Please email resumes to [email protected] or mail to 1441 29th St, Suite 305, West Des Moines, IA 50266, Attention: Recruiting Shareholder.

CAREER OPPORTUNITY-AS-SISTANT CONTROLLERDue to continuing growth, our Des Moines client has created this new position! High visibility and strategic importance. Major responsibilities include review and analysis of external financial reporting. Strong knowledge of GAAP required. SEC experience preferred. BS/BA Accounting, CPA, and 7+ years of experience required. For confidential inquiry and consideration, contact Miles Morrow, CPC, Iowa Career Con-nection: 515-282-5823 or [email protected]. We are retained by our clients who pay all fees.

CPAEstablished firm special-izing in tax, audit and account-ing services with offices in two central Iowa towns seeks CPA with 2-4 years audit experience. We offer excellent benefits and a good working environment. Indi-vidual must be a self-starter and able to work with a wide variety of clients, corporate and indi-vidual. Good communication and computer skills are a must. Email resume to [email protected].

FINANCE DIRECTORThe City of Marshalltown, Iowa, (Pop. 27,500) (http://ci.marshalltown.

ia.us/) a full service community in North Central Iowa, is accepting applications for an experienced Finance Director until September 14, 2015. The Finance Director supervises a staff of five pro-fessional positions; directs and coordinates daily financial record keeping; ensures that accounting, budget and audit controls and systems are in compliance with state, federal and local rules and regulations; supervises invest-ment and cash management programs for the City; manages both property and liability insur-ance for the city; administers and manages capital financing (bonds leases and negotiated note issues); payroll (handled by ADP), and maintains official city documents. Requirements include thorough knowledge of fund and cash accounting, finan-cial management, budgeting and extensive experience with data processing and computerization. Director will lead the research and make recommendations for the purchase of new accounting software. The ideal candidate will have a degree in accounting, fi-nance or business administration, plus 6 years of extensive experi-ence in financial administration or any equivalent combination of experience or training which provides the necessary skills, knowledge and abilities. Salary range is $76,731$103,883 and excellent benefits. Send resume, list of 3 professional references and salary history to: City of Mar-shalltown, Jack Lipovac, HR-One-Source, 5895 Hawthorn Court, Johnston, Iowa 50131 [email protected].

CPA OR CPA CANDIDATEProgressive North Central Iowa public accounting firm has posi-tions available for CPA or CPA candidates. Opportunity for an equity position with our firm is at an accelerated pace for the


industry. We have a casual dress code, reduced summer hours and encourage company-sponsored community involvement. We focus on not only our customer satisfaction, but also employee satisfaction in working in a chal-lenging yet positive environment. We offer full benefits and a com-petitive salary based on experi-ence. As a growing regional firm, we have several CPA positions available for tax preparation, payroll processing, financial statement preparation, as well as bookkeeping responsibilities. We are looking for high energy, self-starters with people skills and attention to detail to join our team. A Bachelors degree in accounting is required with tax experience a plus. Please submit your resume to: DK Arndt, PC, P.O. Box 185, Belmond, IA 50421 or [email protected].

IN-HOUSE ACCOUNTANT AND ASSISTANT OFFICE MANAGERLocal software development firm growing fast, so we are look-ing for someone who can wear multiple hats and grow with us. This person should be familiar with QuickBooks, detail oriented

and interested in expanding their knowledge to other duties. There is a chance that in 2 years they will be the chief operating officer, depending on company growth and ability of individual to handle workload. We are open to any-one 3+ years of solid experience. Send inquiries and resumes to [email protected].

WEALTH MANAGEMENTAre you a CPA looking to start your own business? Are you a fee-only CFP managing money? Our small wealth management office wants to partner with you. Located in West Des Moines suburbs. Confidentially contact us: File #15B, ISCPA, 1415 28th St Ste 450, West Des Moines, IA 50266-1419 or [email protected], subject: File #15B.

GREAT GROWTH OPPORTUNITY Do you love multi-tasking and problem solving? ET Video Inc is looking for a qualified candidate to reconcile general ledger ac-counts, reconcile inventory ac-counting, process accounts pay-able, process payroll, and directly assist the CFO. Individuals must have an associates or bachelors degree in accounting. Exceptional

attention to detail and individual initiative are critical characteris-tics of the successful candidate. A bend-over-backwards service attitude, a flexible spirit, and a positive demeanor are required. The ideal candidate possesses 3 to 5 years of experience in gen-eral ledger accounting functions. ET Video Inc is a closely held mid-sized, for-profit company serving the whole US with video rental and wholesaling to conve-nience and grocery stores. We provide in-store service to over 3,000 stores. Our employees enjoy a generous benefits pack-age. Please submit your resume and salary expectations to Joe Blum at ET Video Inc, PO Box 327, Coon Rapids, IA 50058 or email [email protected]. See our web site at: www.etvideo.com.

For ad rates and deadlines, visit: www.iacpa.org/Resources/ ClassifiedAds/ad_rates.

Classified ads

2015 ISCPA Career Awareness Conference

for business, finance and accounting studentsFriday, Oct. 30

***FUNDING NEEDED***Thank you to these companies for sponsoring this event:

Clifton Larson Allen LLPBrooks Lodden PC

Community CPA & Associates Inc.EY

Honkamp Krueger & Co PC

Kiesling Associates LLPMcGladrey LLP

McGowen Hurst Clark & Smith PCPalmer Group

Funding still needed. We are also accepting donations of promotional/other gift items for Future Iowa CPA swag bags.

A sponsor agreement form is available at www.iacpa.org or contact Kimberly Rubis at [email protected] or 515-223-8161/800-659-6375.


September

1 Public Company Update: SEC, PCAOB and Other Developments (PCOU) West Des Moines

2 Analytics and Big Data for Accountants (DAAN) West Des Moines

2 Studies on Single Audits and Yellow Book Deficiencies (SAYB-CR) Cedar Rapids

3 IFRS Standards: Financial Reporting in a Global Environment (REIF) West Des Moines

3 Not-for-Profit Accounting & Reporting: From Start to Finish (NPAR-CR) Cedar Rapids

8 Advanced Business Law for CPAs (ABLT-CR) Cedar Rapids

9-11 AHI Staff Training: Semi-Senior (STP2A) West Des Moines

9 Fraud Update: Detecting and Preventing the Top Ten Fraud Schemes (TTFS-CR)

Cedar Rapids

10 The Eight Hour MBA (MBA1-CR) Cedar Rapids

11 Advanced Excel: Practical Applications for Accounting Professionals (EXPF-CR)

Cedar Rapids

11 The Eight Hour MBAAdding Value (MBAVALUE) West Des Moines

15 2015 Iowa Community Bank Update (CBU) West Des Moines

16 Audit and Accounting Standards Update (AASU-SC) South Sioux City

17 Does Your Nonprofit Client View the Audit as a Commodity? You Can Change Perception! (NVAC4)

West Des Moines

17 Skills to Succeed 24/7: The Art of Engaging in Difficult Conversations (STS2)

West Des Moines

17 Your Nonprofit Client is Never Prepared: Whose Fault Is It? (NCNP4) West Des Moines

18 Evolving Risk Landscape and Its Impact on the Audit Opinion (ERLA) West Des Moines

21-23 AHI Staff Training: Basic (STP1A) West Des Moines

21 Fringe Benefits 2015 (FB) West Des Moines

22 Planning for Medical and Dental Practices (PMDP) West Des Moines

23-24 Eastern Iowa Fall Conference (EIFC-IC) Iowa City

24 Business Succession Planning Update (BSPU4) West Des Moines

24 Estate and Gift Tax Planning Update (EGPU4) West Des Moines

24 MBA in a Day! (MBAD-SC) South Sioux City

25 Fraud and Abuse in Not-For-Profit Entities and Governments: Stealing From Everyone (FANG-SC)

South Sioux City

25 The 3.8 Percent Medicare Tax/Passive Activity Loss Layer Cake (LLS) West Des Moines

28 Corporate Taxation: Advanced Issues (CTA4) West Des Moines

28 Reviewing Individual Tax Returns: What Are You Missing? (ITRM4-SF) Sioux Falls

28 Social Security and Medicare: Maximizing Retirement Benefits (SSM4-SF) Sioux Falls

28 Surgents Essential Depreciation Update for Practitioners (TDP4) West Des Moines

28 The Lean Office, Process Improvement and Doing More with Less (LOPI-IC)

Coralville

29 Multigenerational Financial and Tax Planning for Clients (MGEN-DM) West Des Moines

29 Running a Not-for-Profit Like a Business (RNFPB) West Des Moines

30 Business Consulting for CPAs (BC) West Des Moines

30 The Complete Guide to Liquidation of Business Entities (CGLB) West Des Moines

CPE spotlightISCPA offers over 150 seminars and educational opportunities annually to help you meet your continuing professional education requirements. View or search for ISCPA courses at www.iacpa.org.


CPE spotlightEastern Iowa Fall ConferenceSept. 22-23 Iowa City

Create the perfect blend of topics to fit your CPE needs. This years conference features speakers Pat Garverick, Jim Martin and Art Pulis, and 24 sessions to choose from including many new topics in tax, accounting and auditing and management. Learn more at www.iacpa.org.

Upcoming Staff Training for AuditorsSept. 9-11 West Des Moines

Semi-Senior

Sept. 21-23 West Des MoinesBasic

Planning for Medical and Dental Practices Sept. 22 West Des Moines

If you provide tax and accounting services for physicians and den-tists, you can offer special MAS projects they need. This program will show you how to identify op-portunities to provide valuable consulting services in practice management, cost structure, and collections, and keep pace with changes in health care delivery. Major emphasis will be on the Medicare RBRVS rules, changes in physicians compensation, current developments in managed care and dealing with tax-exempt hos-pital based medical practices.

IowaSTO.org

Help Your Clients Give More with Less

65% Iowa Tax Credit | Largest Available in IowaSchool Tuition Organizations accept gifts of any size from individuals, partnerships and corporations.

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Gender trends in public accounting

The Womens Initiatives Ex-ecutive Committee (WIEC) of the AICPA is gathering benchmark data on the current status of female professionals within public accounting firms, and on firm programs aimed at advancing females to leadership positions. The survey should take no more than 10 minutes and all responses will remain anonymous. Take the survey at http://goo.gl/B4DRw0 before Friday, Sept. 4.

The WIEC mission is to promote and support the success of women for the broader purpose of sustaining the profession by creating an inclusive environment, increasing talent engagement and leadership opportunities for women.


Taxation Committee meets with IDRBy Bill Lipkea and Stephanie Mendenhall, Taxation Committee

On July 14, members of ISCPAs Taxation Commit-tee met with representa-tives of the Iowa Department of Revenue (IDR) who addressed questions prepared by the com-mittee and provided an update on activities and changes at the organization.

New website: The IDR launched https://tax.iowa.gov/ last fall and welcomes input regarding the site.

Iowa fiduciary returns: As part of the transition to the Mod-ernized e-File Program, IDR is pleased to be able to begin ac-cepting e-filed fiduciary returns for the 2014 tax year during the 2015 tax season. If you are still not able to e-file Iowa fiduciary returns, please check with your software provider to request they support this IDR capability. The IDR will continue to work towards expanding the e-filing eligibility of tax forms.

Identity theft and fraud: Be-cause nearly 2,300 Iowa taxpay-ers experienced tax identity theft this past filing season, the pro-cessing of refunds was slowed to check for fraud. Of the $22 mil-lion of requested refunds flagged for verification, $9 million were found to be fraudulent and not issued. IDR is increasingly work-ing with the IRS to help identify tax identity theft cases. The IDR has also seen an increase in tax preparer fraud.

E-signatures: The IDR will not be adopting the recent IRS rule changes accepting electronic signatures on its e-file authoriza-tion forms. Also note an original taxpayer signature is required on paper returns filed when the Iowa e-filed return has been rejected. The ability to accept electronic signatures is being reviewed by the IDR; however, due to fraud

concerns there is no timeframe on this project.

Iowa power of attorney (POA) processing: POAs going through the registration system will be kept on file electronically. Federal POAs may also be accepted by IDR; however, IDR is required to receive a signed POA from both taxpayers included in a joint return. POAs can also be sent directly to the field auditors working on specific cases.

Appeals and protests: There has been a significant reduction in the case inventory of older protests. To further address these issues, IDR has added additional staff positions in an effort to move the cases forward.

In the future, the IDR hopes to develop an online portal to file appeals. Currently, they are work-ing on a fillable form so that they receive the correct information needed in the right format. Ad-ditionally, IDR has identified the legislative need for an expedited process to resolve small claims, such as a state tax tribunal. The ISCPA supports the establishment of a state tax tribunal and will work with other organizations in an effort to get legislation passed in the near future.

Bonus and amortization: Cur-rently, Iowa requires a separate fixed asset depreciation record following non-conformity with IRC Section 168 bonus depreciation. This method creates added work and complexity in preparing Iowa business tax returns. The commit-tee asked if the IDR would be in favor of moving to a straight-line amortization of these timing dif-ferences over a five-year period, as is used by Minnesota.

The IDR indicated they would be in favor of reviewing this if the Society wanted to propose related information in conjunction with

the introduction of the coupling bill early in the legislative session.

Notices: Clients continue to re-ceive notices requesting informa-tion on estimated tax payments. The notices do include additional information such as the stated history of what the IDRs records show for estimates received and asks the clients to contact the IDR to get this information. It is extremely confusing to the client and requires extra time for tax practitioners to confirm which payments might be missing.

The IDR indicated that the de-velopment of an online tool that would allow tax preparers access to estimated payments is on the list, but may not be completed by next tax season. IDR indicated that if you use e-pay you may view the history of payments. Programming to include addi-tional information in the letters is too costly.

Legislative issues: IDR thanked our members for their efforts in contacting legislators to en-courage the passage of the IRC update bill early during the 2015 session.

Updates on sales and use tax, and other 2015 income tax up-dates, can be found in the full article at http://goo.gl/YtWcEZ.

Bill Lipkea is a shareholder at Koch Platner & Reed PC in Cedar Rapids.

Stephanie Mendenhall is the owner of Stephanie A. Mendenhall CPA PC in Humeston. They have been ISCPA members since 2012 and 1980, respectively.


Lifetime Financial Literacy series: collegeBy Mike Volkens, Financial Literacy Committee

Editors note: This series from Iowa CPAs highlights financial health tips and best practice sources you can share with clients, friends and family.

High school graduation and the next couple of years is a critical time for young adults. They begin to make deci-sions that will likely impact the rest of their lives. Are they attend-ing college? Going to look for a job? Will they need to take out a loan for their chosen endeavor? We encourage parents or a close mentor to discuss these choices with young adults well in advance of them having to make decisions about their future. Although it may be challenging, youll want to discuss all of the options based on his or her interests.

Plan and budgetIf college is the route and loans are a must, encourage your stu-dent to only use the money for necessities like tuition, reason-ably-priced housing and board, and textbooks. Help them deter-mine what the payment on a loan would be per month, and if the job they currently have, or want in the future, will afford them the ability to make the payments. Breaking out a payments interest and principal can also be particu-larly eye-opening when it comes to loans. For discretionary spend-ing like entertainment, clothing and trips, utilize only existing sav-ings or earnings. What if your stu-dent has little to no savings to fall back on? Encouraging part-time employment during the school year and full-time during the summer can help build savings and offset additional borrowing.

Exercise good habitsWhen it comes to credit cards, this is the age to develop good habits. Some examples and key points to cover with them include:

Piling up thousands of dollars in credit card debt during the college years is not uncom-mon for students, especially in the United States.

This type of spending can put you in a hole for the rest of your life.

Limiting the number of open accounts to one, with a minimal credit limit of $500 or less, can go a long way in preventing a big financial mistake.

If the balance cant be paid in full each month, dont use the credit card.

Using a credit card and pay-ing the full balance monthly helps build a very good credit score.

When the bill is not paid, you will see your credit score negatively impacted.

Stay in balanceEmphasize the importance of balancing bank accounts. Moni-toring activity ensures that bills will be paid and monthly rent checks wont bounce. This also helps to reduce or eliminate bank overdraft fees, which can average $35 per occurrence. A single day of repeated overdraft activity can quickly add up to over $100 in fees. If monitoring their balance continues to be a problem, use a simple safeguard like setting their debit card to decline any activity that would result in an overdraft transaction.

Push the envelopeIf they arent already, its time to start living on a budget. The envelope system is an easy way of doing that. At the beginning of each month, place a budgeted amount of cash in envelopes for categories of spending such as groceries, dining and entertain-ment. Once its empty, theres no more spending in that category until next month. If youd like to make it even simpler, ditch the categories and withdraw a set amount of cash to cover all ex-penses for the week or month. In todays digital age, it has become less common to pay with cash; however, repeated studies have shown that those who pay with cash spend less money.

ISCPAs Financial Literacy Com-mittee offers Avoiding the Debt Trap, a free program geared toward college-age students that provides tips and examples on the importance of beginning to manage your finances, and controlling debt and credit scores early. For information on how to bring this program to your school, contact Julie Thelen at [email protected].

Coming in October. Financial literacy for early 20s.

Mike Volkens is a financial ac-counting analyst at Principal Financial Group in Des Moines. He has been an ISCPA member since 2009.


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Potential overtimes rules could change payroll accounting

The U.S. Department of Labor (DOL) recently proposed regulations that would increase the minimum salary an employee must earn to be exempt from the Fair Labor Standards Act (FLSA) overtime requirements. If enacted, the change could significantly affect the bottom line of businesses.

Current rulesEmployees who earn $455 per week or less, or $23,660 annually, are nonexempt. Employers must pay these employees overtime (at least time-and-a-half) if they work more than 40 hours in a week.

Proposed rulesUnder the new proposed regula-tion, the minimum salary for ex-

empt executive, professional and administrative employees would be set at the 40th percentile of weekly earnings for full-time salaried workers based on Bureau of Labor statistics data. The DOL estimates this to be about $970 per week or $50,440 per year in 2016. The rule change could also prevent future problems by automatically updating the salary threshold based on wage growth over time. This would af-fect nearly five million American workers within the first year of implementation.

When is a worker an employee?Whether workers are legally defined as employees or inde-pendent contractors will affect a

companys taxes and liabilities. This is an ongoing task for em-ployers, and now is a particu-larly good time for companies to review their worker classifications to ensure their rules agree with the DOLs revised guidance.

Companies brace for possible overtime expansionEven though its projected that the rules wont be finalized for months, companies should be focused on tracking employee hours. Business leaders are con-sidering a range of responses, from installing software that will alert them when an employee is about to earn overtime, to dis-couraging staffers from checking email after the workday is over. While many companies are wor-rying about labor costs, the new rules could be a way for compa-nies to become more efficient.

The new rule is predicted to be ad-opted by the end of 2015, to take effect in the beginning of 2016.

For more information, view a copy of the DOLs proposed regula-tions at www.iacpa.org/Libraries/publications/DOL_2015-15464.sflb.ashx. This document also contains guidelines for submitting comments on the proposal. Learn more about the DOLs proposed rule at www.dol.gov/whd/over-time/NPRM2015/.

Labor wage guidelines will be covered at ISCPAs IDR and U.S. Department of Labor update.

Nov. 23 Cedar RapidsDec. 4 West Des Moines

Register at www.iacpa.org.


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You even get a special discount for being a member of the IA CPA association.

Shaping future leaders and butter cowsThank you to the Iowa CPAs who attended the 2nd annual

Emerging Leaders Conference, Aug. 13-14, and to their employ-

ers for making the commitment to provide development opportuni-ties to their employees 40 and

younger.

Butter isnt always betterIn honor of the Iowa State Fairs opening day, attendees par-ticipated in an intense Play-Doh carve-off to create the best replica of the fairs famed butter cow. These strange and kind of awesome creations showcased just one of the many talents you can expect from these up-and-coming leaders in the profession.

Excellent! I took away so many thoughts and relevant ideas that could be incorporated into my organization and team.

Id highly recommend it to any young CPA!

This conference was a great use of my time.

One of the best CPE events I have ever been to. Im recom-mending to my co-workers for next year.

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Joinmembersget it!October membership challengeAs a member of ISCPA you get it - its good to reap the benefits of being part of an organization looking out for your success. When you recruit others to get it, and they join anytime in October, heres what you get:

You recruit: You get:

10 + new members One $75 Visa gift card

5-9 new members One $50 Visa gift card

1-4 new members One $20 Visa gift card

If we reach 400 new members by Oct. 31, the person who recruited the most new members receives a $500 Visa gift card.

New members recruited as part of the membership challenge will have the $35 application fee waived in October.

Rules and information will be available on our website and emailed to all members before Oct. 1.

100% membership commitment

When all of your organiza-tions full-time CPAs are members of ISCPA, you will be enrolled in our 100% Commitment Program. Organizations at this level convey to your clients, staff and col-leagues that you have made a signifi-cant commitment to the CPA profes-sion and high professional standards, the advancement of your CPAs, and service to clients and co-workers.

All firms, businesses or organizations with offices in Iowa that employ Iowa CPAs are eligible. Learn more about the benefits for you at www.iacpa.org.

iowa cpa - september 2015

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