Annual Convention June 24-27, 2010 · Thomasson Company manufactures and sells pressure treated poles, piling and other wood products for domestic and export markets. MLMA, organized

MISSISSIPPI SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

VOLUME XLVIII MARCH 2010

In MemoriamJeffrey Anderson Huff

JacksonDied Feb. 6, 2010

William Tony WilsonCleveland

Died Feb. 10, 2010

Jesse J. Wolfe, Jr.Pascagoula

Died Oct. 25, 2009

Committees MeetMay 4 at MSCPA

MSCPA Committees will hold theirSpring organizational meetings duringmorning (9-11 a.m.) or afternoon (1-3 p.m.)sessions on Tuesday, May 4 at the MSCPABuilding in Ridgeland.

Committees on a morning schedulestarting at 9 o’clock include Accounting &Auditing, Awards, Education & Scholarships,Business Valuation, Continuing ProfessionalEducation, Firm Administration &Development, Governmental Accounting &Auditing, and Health Care Services.

The afternoon committee schedule startsat 1 p.m. and includes Industry, InsuranceTrust, Legislation, Long Range Planning,Non-Profits, and Taxation.

Committees will plan their program ofwork for the new year. Minutes will bereviewed by the Board of Governors at theJuly meeting.

Volunteer forCommittee Service

MSCPA members are encouraged tovolunteer for committee service and theprocess is very easy.

Current committee rosters are carried onthe Society’s website at www.ms-cpa.org.Click on The Association tab at the top leftand then follow the link to CommitteeRosters. Review the committee titles andsend an email to [email protected] listing upto three committee preferences.

President-Elect Sim Mosby will makeappointments in early Spring and aconfirmation will be sent to the committeemember with details on your committeemeeting during May. Continuingcommittee members will receive a notice ofdetails on their committee meetingschedule.

President Visits Northeast Chapter in TupeloPresident Bob Cunningham visited with members of the Northeast Chapter in Tupelo for a Feb. 11luncheon meeting. The President provided an update on Society activities and the upcoming AnnualConvention and the Chapter presented a $6,000 contribution to benefit the Building Fund. From left areChapter Secretary Julie Hensley; MSCPA President Bob Cunningham; and chapter President MattMcCarty.

Annual Convention June 24-27, 2010The MSCPA Annual Convention and

Business Meeting will be held June 24-27,2010 at the Sandestin Golf & Beach Resortin Destin, Florida. This will mark the 25thconsecutive year the MSCPA has met atSandestin and the meeting will center onthe theme of the Society’s 90th anniversarythis year.

President Bob Cunningham hasconfirmed all speakers for the meeting.Friday morning’s session will open at 9 a.m.with a Professional Issues Update fromAICPA President Barry Melancon. He will befollowed at 10:15 a.m. by Jonathan E.Turner, CFE, CII, from Memphis who willdiscuss prevention and detection offinancial fraud. Turner is ManagingDirector with Wilson & Turner Inc.

The Annual Business Meeting will beginat 9 a.m. on Saturday morning withelection of officers for 2010-2011, reportsfrom officers, recognition of theOutstanding Educator, Public Service Awardwinner and winners of CPA Exam Medals.

Speaking at 11 a.m. will be AndyTaggart and Jere Nash authors of“Mississippi Politics: The Struggle for Power,1976-2008, Second Edition.” Jere Nash, a

Democrat, is a consultant whose politicalpositions have included executive directorof Mississippi First, deputy state auditor,and chief of staff for the Office of theGovernor. He has consulted on numerousstate and local campaigns. Andy Taggart, aRepublican, currently operates his own lawfirm, focusing on business counseling andconsulting with emphasis on governmentand health. He has served as executivedirector of the Mississippi Republican Party,chief of staff for the Office of the Governor,and president/ CEO of the MississippiTechnology Alliance.

The traditional prayer breakfast willclose the convention on Sunday morning.

Members will also be offered a day ofCPE on Thursday of the meeting, with fourhours of ethics Thursday morning presentedby Dr. Quinton Booker of Jackson StateUniversity. That afternoon Dr. Stan Clarkof the University of Southern Mississippiwill provide a four-hour A&A Update.

The Sandestin Housing form is includedin this Newsletter (see page 4) and is also onthe Society website. The conventionbrochure and registration materials will bemailed later in March.

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Mississippi Society of Certified Public Accountants March 2010

Publishedby the

Mississippi Society of Certified Public Accountants

306 Southampton RowThe Commons

Highland Colony ParkwayRidgeland, MS 39157

PHONE: (601) 856-4244FAX: (601) 856-8255

E-MAIL ADDRESS: [email protected]

OFFICERS

PresidentBob Cunningham, Jackson

Vice President/President-ElectSim Mosby, Natchez

SecretarySusan Riley, Hattiesburg

TreasurerLee Adams, Jackson

Immediate Past-PresidentJan Lewis, Jackson

Executive DirectorJack O. Coppenbarger

The CPA Newsletter is the officialpublication of the Mississippi Society ofCertified Public Accountants. TheNewsletter invites articles of interest to theprofession and gives credit to the author;however, it reserves the right to editarticles for correct spelling, wording andpunctuation.

Opinions expressed are not necessarilythe official policy of the MSCPA.Advertising is accepted in good faith thatthe product/services are of value stated.

MSCPA Launches New Online Career CenterThe MSCPA has launched an interactive job board, the MSCPA Career Center. Thecenter offers an easy-to-use and highly targeted resource for online employmentconnections. A link is on the Society’s website.

Both members and non-members can use the MSCPA Career Center to reach qualifiedcandidates. Employers can post jobs online, search for qualified candidates based onspecific job criteria, and create an online resume agent to email qualified candidatesdaily. An added benefit is online reporting that provides job activity statistics.

For job seekers, MSCPA Career Center is a free service that provides access toemployers and jobs. In addition to posting their resumes, job seekers can browseand view available jobs based on their criteria and save those jobs for later review ifthey choose. Job seekers can also create a search agent to provide emailnotifications of jobs that match their criteria.

Welcome New MembersNew members include Roy Lee Austin,

Steven Joshua Carlisle, Halton ArnoldDavis, III, Justin Kirk Doggett, Karen S.Gondan, Jamie M. Hearn, Brien BennettHubbard, Brandon Michael Jones, FrankNazario, Amber Leigh Patrick, April W.Posey, Kimberly Renae Sandifer, and LarryRichard Woodruff, Jr.

Now completing the membershipprocess are:

Melody Ann Byrd was born in Gulfportand received an A.A. from Mississippi GulfCoast Community College and a BSBA inAccounting from the University ofSouthern Mississippi. She is a StaffAccountant with Lefoldt & Co., P.A. inRidgeland and is applying as an AssociateMember.

Ben R. Hester was born in Hattiesburgand received his Bachelor’s and Master’s inAccounting from the University ofSouthern Mississippi. He is a SeniorAssociate with Horne LLP in Hattiesburg

Derek Wade Holeman was born inJackson and received an A.A. from HindsCommunity College and a BSBA fromMississippi College. He is a Senior

Accountant with Eubank & Betts, PLLC inJackson.

Jennifer Smith Lott was born in Laureland received her BSBA and MPA from theUniversity of Southern Mississippi. She isa Senior Associate with Horne LLP inHattiesburg

John Angelo Milazzo was born inVineland, New Jersey and received his BAin Accounting from Richard StocktonCollege of New Jersey. He is ChiefFinancial Officer for River Region HealthSystem in Vicksburg.

Cal Rackley was born in Starkville andreceived his Bachelor of Accountancy andMaster of Taxation from Mississippi StateUniversity. He is a Staff Accountant withWatkins, Ward and Stafford, PLLC inStarkville.

Kallie Breanne Stacy is a Mississippinative and received her Bachelor ofAccountancy from the University ofMississippi and Master of Taxation fromMississippi State University. She is aSenior Accounting Analyst with PACCAREngine Company in Columbus.

Melissa Ann Swetland was born inMemphis and attended the University ofMississippi where she earned a Bachelor ofArts (Political Science), Bachelor ofAccountancy, and a Master of Taxation. Sheis a Tax Senior with BKD LLP in Oxford.

Donna Peninger Taylor was born inJackson and received her BSBA inAccounting and MBA from MississippiCollege. She is the Controller withDuckworth Realty, Inc., in Jackson.

Rickey Reece Williams was born inShelbyville, Indiana and received his BS inBusiness Administration from MichiganTechnological University.

Do We Have YourEmail Address?Visit the Members Section of theSociety website (top right mainpage at www.ms-cpa.org) toreview your member informationand make updates. Or, emailyour preferred email address [email protected] and we’ll dothe update for you.

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March 2010 Mississippi Society of Certified Public Accountants

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Our Members in the NewsJ. Frank Betts, Managing Member of

Eubank & Betts, PLLC, was electedChairman of the International Board ofDirectors of CPA Associates International,Inc. at the annual meeting in Phoenix,Arizona. He will serve a two-year term asthe Chairman. CPA AssociatesInternational, Inc. is an association ofaccounting firms comprised of 144 firmsand 285 offices worldwide with 52members in the United States and 92

Members in 70 foreign counties. TheAssociation assists firms in all areas of theiraccounting and consulting practices. Mr.Betts is a founding member of Eubank &Betts, PLLC. He is also the Director-in-Charge of Peer Review Services and assistsmany U.S. CPA Firms in complying withthe standards in the quality of their auditand accounting practices. He is co-authorof "Guide to Auditor's Reports".

u u u

Pat Thomasson, Thomasson Company,Philadelphia, was elected President of theMississippi Lumber ManufacturersAssociation during its Annual Meeting Feb.5. Thomasson is the first female to achievethis position. Her father, Hugh Thomasson(deceased) served as president in 1969.Thomasson Company manufactures andsells pressure treated poles, piling and otherwood products for domestic and exportmarkets. MLMA, organized in 1954,represents pine and hardwood sawmills inMississippi and Associate Memberscomprised of companies throughout thecountry who support the sawmill industry.

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W. Patrick (Pat) Harmon, CPA/PFS,CFP®, has been admitted as partner withFortenberry & Ballard, PC. He will beresponsible for tax, general accounting, andfinancial services for the firm. Harmon hasover 25 years of financial planning and riskmanagement experience having previouslyworked as an investment advisoryrepresentative with a Fortune 10 company.Additionally, he has served as chieffinancial officer in the real estatedevelopment and manufacturing sectors.

CORPORATE ANNUAL REPORTS DUE NOWSECOND REMINDER:

Corporate Annual Reports can be filed starting January 1st of each calendar year.This year, corporate Annual Reports must be filed on or before April 15, 2010.

The Secretary of State will receive thousands of Annual Reports per day during themonth of April. It will take several months to file all of these reports and have theupdated information for the corporations appear on the website. We encouragecorporations to file their Annual Report now.

Remember to utilize our online filing system. Your Annual Report will beimmediately filed and all of the information for the corporation will be current within24 hours of the filing. In addition, you save money with online filing. Annual Reportsmay be filed online for only $23.25 versus $25.00 through the mail.

To file corporate Annual Reports online go to the Secretary of State’s website atwww.sos.ms.gov. You will need the business Id number for your corporation (availableon the website) and a major credit card.

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Honor an OutstandingMSCPA Member ForPublic Service

The membership is invited to nominatea member for consideration as the 2010Public Service Award winner.

The winner will be recognized duringthe Annual Business Meeting Saturday, June26, 2010 at the Sandestin Golf & BeachResort. President Bob Cunningham hasnamed members of the 2010 Public ServiceAward Committee including: StacyThomas, Jackson; Juliette Mays, Houston;and Steven Palazzo, Biloxi.

Qualifying activities for the awardinclude service clubs, church work,children’s programs, economic developmentand public service. Submit a nominee’sname to one of the committee members orto the MSCPA office ([email protected]) forforwarding to the committee.

Enterprise VoIPOne of my sales agency friends installed a

new high speed internet/telephone systemabout 4 years ago from a company calledcBeyond. It operated over a T-1 line (abusiness class high speed internetconnection). Plugged into that T-1 line was atelephone system called a PBX (privatebranch exchange—once the providence ofonly very large companies).

Feature phones were plugged into thePBX. Total cost was in the $10,000 range for

a 15 extension installation with 5 or 6telephone lines connected to a singletelephone number (usually called roll-overlines). The telephones had lots of featureslike caller ID, call forwarding, voice mail, theability to transfer calls to another extension,music on hold, etc.

The telephone calls went to thetelephone central exchange via the T-1 dataline. Any data capacity left over wasavailable for high speed internet to thebusiness. Coupled with fractional T-1offerings from the phone company you canspecify as much capacity as you want (and

Are You Off-Color?Back in the early days of the PC, a color

screen was a luxury for the “rich” with awhopping 320 by 200 resolution (about thesame as most current cell phones) and all of16 different colors. They were expensive,often more than $1,000.

If you got a color monitor you were happyto see anything close to red, blue and/orgreen, much less shades. But that didn’tmatter since almost all applications were textbased. A phrase at the time was WYSIWYG,what you see is what you get, but only intext. A graphics program would let you paintin those 16 colors with the ease of using anetch-a-sketch. But that didn’t really matter;there weren’t any affordable color printers.

Jump forward 20 years. Monitors displayat 1280 x 1024 resolution with over 16million color shades and sell for about $100.Everyone is running a GUI (graphical userinterface, a.k.a. Windows). And photo qualityink jet printers are “free” after rebates.

90% of all cameras sold this year weredigital. More and more people aredownloading their pictures onto theircomputers and using software like Photoshopor Paintshop Pro to retouch those pictures.

But when you hit print, what you see isnot what you get. Colors that looked goodon screen don’t print the same way. It’s nowimportant that your monitor colors be betterthan a close approximation.

There are low cost solutions…One is Huey, from Pantone. Pantone is

known for being the experts at colormatching. Almost every print job usesPantone color matched ink. Huey is aboutthe size of a small cigar and plugs into a USBport, where it gets its power. Install the Hueysoftware and it color calibrates your monitorand adjusts it to the lighting conditions ofyour room. Leave it plugged in its stand andit re-adjusts the monitor as the lightingchanges. I noticed immediately afterinstalling Huey that my monitor had beendisplaying everything much too bluish (e.g.too cool), that made my prints come out toored (actually more like brown) when what Iprinted what looked good on screen.

The calibration process is automatic. FirstHuey measures the ambient room light(intensity and color). Then you place Hueyon your monitor/LCD screen. The Hueysoftware puts up shades of grey and variouscolors and measures what the display shows.From that it can calculate the monitor’sprofile and make its adjustments. The laststep shows the difference between theuncorrected and corrected, which mymonitor showed was displaying too muchblue.

Once calibrated you put Huey in itsholder and it can automatically adjust yourmonitor for the ambient light (e.g. if youhave windows and the sun shines in someparts of the day). It will also remind youevery month or so to recalibrate yourmonitor.Gregg Marshall, CPMR, CSP, is a speaker, author andconsultant. He can be reached by e-mail [email protected], or visit his website athttp://www.repconnection.com.

can afford).Long distance calls back then were a

couple of cents per minute; I’m guessing theyare included now. And call quality was asgood, and many times better, than regulartelephone calls.

There are also virtual VoIP options thatdon’t even require a PBX, but give the samefunctionality(http://www.virtualpbx.com/index.asp wasthe first service that Google presented). Oneadvantage is you can get more features (likecall directors, call queuing, etc) and theysupport your employees taking their callsfrom anywhere. JetBlue is famous for havingits reservations work from home, now anysmall business can have the same capabilities.

Staying with traditional telephoneservice, or depending on your cell phone forlong distance, may not be the best businessdecision. At least investigate VoIP, especiallyfor your field sales people.

Gregg Marshall, CPMR, CSP, is a speaker, author andconsultant. He can be reached by e-mail [email protected], or visit his website athttp://www.repconnection.com.

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NewMSCPA

CAREERCENTER

For

Job SeekersAnd

EmployersSign up at

www.ms-cpa.org

A New Type of Engagement by Lyndsey Havill

When most accounting firms hear theword engagement they think of a businessarrangement. However, there is a new typeof engagement entering its way into theaccounting industry’s lingo; namely,employee engagement. An engagedemployee is one who is thoroughlyinvolved in and enthusiastic about theirwork, and will act in a way that furtherstheir firm's interests. We have all seen thesepeople at work. They are the ones who staylate without being asked, volunteer foradditional responsibility, “act like anowner” and who go above and beyond tosee the firm succeed. They are the ones thatwe wish we could clone and the ones whowould leave a serious hole in our firm’s coreif they left.

It’s not surprising that developinghighly satisfied, committed and motivatedemployees has quickly become a keystrategic priority for the accountingindustry as business results and retentiondemand an engaged workforce. Knowingthe level of engagement within your firmwill be the foundation for organizationalchange and ongoing success. So how do wemeasure it? Research has shown that thereare key drivers of employee engagement.

These drivers impact the level ofcommitment and satisfaction of youremployees which directly impacts results byincreasing your employee’s willingness tostay with the firm and their discretionaryeffort (i.e. willing to go above and beyond).

DRIVERS OF ENGAGEMENT What drives the levels of engagement of

your employees? There are many factorsthat have been shown to impact levels ofemployee engagement. Working withaccounting firms for over 10 years hasenabled us to identify the key driverswithin accounting firms: growth anddevelopment opportunities; amount ofteamwork/collaboration and support (e.g.,recognition, technology and resources),overall firm quality and integrity,communication, and level innovation; andemployee empowerment. All of thesefactors together impact how youremployees THINK, FEEL and ACT.

ENGAGEMENT COMPONENTSTHINK. Commitment is an extremely

important component of employeeengagement. An employee’s commitment

continued on page 9

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to their team, their job, theirmanager(ment) and their firm are allcritical factors in the way employees think.An employee could love what they do andwho they work with, but if they do not getalong with their direct supervisor chancesare they will eventually look for anotherfirm to work for. It’s not 100% fool proof,but employees usually don’t leave jobs,they leave management. If they wereleaving their jobs they wouldn’t be going toa new firm with the same job title.

FEEL. Are your employees satisfied?How do you know? What are they satisfiedwith and what are their deal breakers?You’re not alone if you think a nice littleraise at the end of the year will keep youremployees satisfied, but unfortunatelycompensation is only a very small part ofan employee’s satisfaction. I can be happywith my compensation and benefitspackage, but be extremely unenthusiasticabout my work. For me, that’s a dealbreaker. Knowing what each of youremployee’s value as well as how they feelabout how well your firm meets thoseneeds will be an important component indetermining the level of engagement of

your employees. ACT. How your employees act or

behave is the most easily recognizablecomponent of employee engagement. Anengaged employee works a few extra hoursto help a coworker, goes above and beyondto ensure exceptional client service andbegins networking as a staff accountantbecause they are excited and passionateabout what they do and who they do it for.On the flip side, what about thoseemployees who perpetually come in late?Who spends hours surfing the web,gossiping with peers, or even notcompleting work? How your employees actis critical to success and is a key indicatorof employee engagement.

RESULTSRetention- It’s disconcerting to know

that only 29% of employees are activelyengaged in their current job (BlessingWhite). This can only mean one thing:intention to leave. Dysfunctional turnovernot only disrupts day-to-day workflow butit is also extremely costly. When firms focuson increasing employee engagement theyare not only increasing performance, butthey are increasing retention. Increasingemployee engagement can reduce turnoverby 87% (Corporate Executive Board). Whenyour firm has engaged employees your

average tenure is lifelong and your averageemployee isn’t so average.

Performance- Think back to anemployee who you think was fully engaged.What did their performance look like?What did their product look like? Chancesare they were the employees you wanted tobe client-facing, who you wanted to mentorothers and who you hoped would worktheir way up to partner. In a study ofprofessional service firms, the Hay Groupfound that offices with engaged employeeswere 43% more productive. Performancedoesn’t just mean personal performance. Italso means satisfied and loyal customers,higher profits and profitability, revenuegrowth, and firm sustainability. Moreproductivity means more results and in aneconomy where we are asked to do morewith less, your firm cannot afford not toengage your workforce.

When tax season has come to a haltand you are confident you have satisfiedthe needs of your clients, take a step backand ask yourself how satisfied are yourgreatest assets… your employees?

THE GROWTH PARTNERSHIP, Inc.2458 Old Dorsett Road, Suite 250St. Louis, MO 63043

NEW ENGAGEMENTCONTINUED FROM PAGE 8

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Social Networking: First Do No Harm! by Robert H. Spencer, PhD

It has been estimated that more than 76million “millennials” (Americans bornbetween 1978 and 2000) are ready to enterthe workforce throughout the next decade.At the same time significant numbers of the“Baby Boomer” generation will be retiring.There is a good chance that you fall intoone of these groups or a sub-gender thereof.

It seems that as younger workers aregraduating and entering the work force, weare undergoing a significant sea change inhow workers view and respect sensitiveinformation in the daily course of business.By that I mean that this group seems toview information in the workplacedifferently. If fact, they may have alwayslooked at data differently, but the advent ofSocial Media tools such as Facebook andTwitter has changed our ability to rapidlyaccess and disseminate information. Thismakes it more important than ever to besensitive to our responsibilities to guard ourclients' information.

The good, bad and ugly of SocialNetworking

The good of Social Networking is that itis a powerful sharing and collaborationtool. Used properly it facilitates andaccelerates our ability to communicate,quickly replacing e-Mail as the tool ofchoice. Whereas e-mail is a one-to-onecommunication platform and can bemanaged via encryption and other tools,social media tools are one-to-many,immediate, and there are few if any toolsavailable to restrict or manage their use.Just as we needed to develop InternalControl Procedures to train and convey toemployees what were permissible uses of e-Mail, so too must we develop InternalControl Procedures to establish guidelinesand limitations on what is allowable uses ofSocial Networking in our workplace and,what information is restricted and may notbe conveyed outside the office as well.

Also, not everything about socialnetworking is bad; there are good benefitsto creating a Facebook site, or Twitteraccount for your firm to convey positiveinformation to clients and potential clients.This may even be done by employees whoare passing positive information on toothers. However, the natural approach ofmanagement today is to simply put a stopto it.

The bad side of Social Networking isthat you cannot stop it. Blocking firewallsand routers from accessing certain sites is,

for the most part, a useless endeavor witheasy work around. Such measures do notaffect users who use such tools at home oron the road. It is extremely importanttherefore to educate everyone in the officeto use social networking toolsappropriately.

The ugly side is that once you developgood Internal Control Procedures you mustenforce them. If an employee, aftertraining, violates the rules appropriateactions must be taken.

Creating Internal ControlProcedures

You might consider the following stepsto establish policies on social networkingpublished by SHRM Online:

• Get fully informed about the varioussocial networking venues, their thrustand theme, successes and foibles.

• Identify the kinds of socialnetworking conduct by employeesthat your company wants to regulate.

• Decide the level at which some siteswill be filtered or blocked by yourcompany’s computer network.

• Determine the job categories thathave inherent, appropriate workplaceuses for social networking and grantaccess to social networks to workersin those groups only.

• Craft a clear, concise policy that canwithstand legal scrutiny.

• Ensure that employees read and signthe policy.

• Update the policy annually, basedupon policy reviews conductedjointly by HR and other corporatemanagers, employment lawyers andother experts.

• Make sure managers buy into thepolicy, and communicate it throughmultiple channels.

There are a number of web-sites thatoffer advice on creating your policy. Thefederal government recently publishedGuidelines for Secure Use of Social Mediaby Federal Departments and Agencies.

This document can be found athttp://www.cio.gov/Documents/Guidelines_for_Secure_Use_Social_Media_v01-0.pdf

IBM has published their guidelines forblogging, wikis, social networks, virtualworlds and so forth athttp://www.ibm.com/blogs/zz/en/guidelines.html

If you want to educate yourself, or your

staff on the subject of Social NetworkEtiquette, read this articlehttp://www.msnbc.msn.com/id/32691783/ns/technology_and_science-tech_and_gadgets/

There is also a sample short InternalControl Procedure athttp://www.tsif.com/socialnetworking.htm

First, Do No HarmFor those of you who are new to the

workforce, what information is proper toshare over the Internet and what isn’t, isreally not that difficult to understand.Most of the time good common sense canbe your guide. Don’t tweet or post acomment about anyone that you would notsay to their face! If the information isclient related, or is information thatbelongs to the firm – DON’T POST IT! Ifyour office has rules about what may bewritten down in the firm, notes, commentsand so forth, to include in client files - allthese rules apply to cyberspace as well.

Keep your personal Facebook or Twitteraccounts personal and do not include work.It really is as simple as that. But since everyonce in a while someone just does a dumbpost by accident, exposing sensitiveinformation, it is more likely to occurbecause you are mad, or upset, or bored.Stop and take a deep breath before you doit. It may be better to go home, play XBOX,take a run, or just yell out loud in thewoods than post something you will live toregret.

I might also suggest if you are lookingfor a long and profitable career, payattention to what you post on yourpersonal posts as well. Now that web basedsearch engines are including socialnetworking posts your comments cannot betaken back, and they may exist across theInternet for many years to come! If youhave pictures on your sites that you wouldnot want your minister or your mom to see– perhaps there are good reasons to takethem down.

Dr. Bob Spencer is an internationally recognizedauthor, lecturer, and consultant who has writtenmore than a dozen books on technology in businessand can be reached at www.bobspencer.com. Dr. Bobis associated with and presents ContinuingProfessional Education seminars for K2 Enterprises,www.k2e.com.

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Optimism Jumps Among Manufacturing Finance ExecsAmid widespread uncertainty regarding

government actions, the real estate marketand credit, CPA financial executives expectslow employment and economic growth,according to a survey released last week andco-sponsored by the AICPA. However, theoutlook for the beleaguered manufacturingsector brightened considerably from thefourth quarter of 2009.

Results from the Economic Outlook SurveyQ1 2010, conducted by the AICPA and theUniversity of North Carolina’s Kenan-Flagler Business School, found that 25% ofrespondents were optimistic or veryoptimistic about the outlook for the U.S.economy for the next 12 months. Thirty-eight percent were very pessimistic orpessimistic and the remainder was neutral.These percentages were virtually unchangedfrom the previous two quarters.

“The CPAs who respond to thesesurveys are controllers and CFOs and whoknow where the economy is going. Theyknow whether they’re selling more orspending more. They’re the people on MainStreet USA,” said Carol S. Scott, CPA, AICPAvice president—Business, Industry &Government.

Continuing a trend seen over the pasttwo years, respondents were moreoptimistic about their own organizationsthan about the U.S. economy as a whole.Optimism for respondents’ ownorganizations increased slightly thisquarter: 44% were optimistic or veryoptimistic, and 24% were pessimistic, downfrom 30% in the fourth quarter of 2009.

There was a substantial increase inoptimism among the 162 CPA financialexecutives in the manufacturing sector thisquarter, with more than 56% saying theywere “optimistic” or “very optimistic”about the economic prospects for their ownorganization over the next 12 months.Only 14% reported they were pessimistic,and 30% were neutral. The manufacturingsector recorded the highest level ofoptimism among all sectors. This is a vastimprovement from a year ago, whenoptimism levels among manufacturingexecutives were the lowest among allsectors at 13%, and up from 39% in thefourth quarter of 2009. The least-optimisticrespondents were from the constructionand real estate sectors, of which only 26%and 30% were optimistic, respectively.

Supporting this increase in optimismamong respondents in the manufacturingsector are plans for expansion—62% expect

their businesses to expand over the next 12months. Fifty-two percent said “expand alittle” and 10% said “expand a lot.” Acrossall sectors, only 41% said their businesswould expand a little and 7% said it wouldexpand a lot.

“It’s encouraging becausemanufacturing could be substantive driverin the economy,” said Mark Lang, a Kenan-Flagler accounting professor who analyzedthe survey results. “I think part of thereason you’re seeing the strong bounceback in manufacturing is because inventorylevels had been driven very low over thecourse of the recession. As we begin to see apick-up in demand, firms are realizing theyneed to build their inventories. We havesort of a double effect. On the way down, itwas a double effect on the negative side;now it’s a double effect on the positive. I’mcautiously optimistic that manufacturingwill help lead this recovery.”

This quarter, respondents werepresented with a set of questions regardingemployment and proposed policies thatmay or may not encourage increased hiringand economic growth. CPA financialexecutives ranked easing restrictions onfinancial institutions lending to smallbusinesses, simplifying regulations on smallbusinesses, and offering tax credits for largecapital investments the most importantactions needed to generate economicgrowth and accelerate job creation. Theyranked the three least important actions tobe additional aid to states and localities toretain workers, additional federalinfrastructure investment, and an expandedtax credit for energy-efficient retrofits.

“In reading specific responses, you get astrong sense that small businesses are verynervous about the size of the deficit andpotentially higher taxes and inflation goingforward. And so as much as they’re hurtingfor demand, they’d rather the governmentstep back a little bit and let the recoverytake over on its own,” Lang said.

Based on current conditions,respondents characterized theirorganization’s staffing situation, rangingfrom excess capacity to stretched resources.While a majority said they hadapproximately the appropriate number ofemployees (54%), nearly a quarter reportedthey had too few employees, but werehesitant to hire until further uncertaintywas resolved. Fifteen percent said they hadan excess number of employees, while 6%were planning to hire. Lang noted that

employment was the weakest of all of themeasures the survey looked at. “Employersare waiting until they see stronger signs ofrecovery before they engage in hiringactivity,” he said.

Absent any government intervention,28% of respondents expect it to takebetween 12 to 24 months for theirorganization’s employment to return to pre-recession levels, and another 29% said itwas unlikely to happen in the foreseeablefuture. Small percentages of respondentsexpected to rehire at a quicker pace, with3% anticipating it will happen in the nextsix months, and 5% between six and 12months from now. More than 31% saidemployment at their organization did notdecline during the recession.

Continuing a trend seen over the pastyear, the Corporate Expansion Indexincreased, from a low of 0.4 in the firstquarter of 2009 to 0.57 this quarter. TheCorporate Optimism Index increased to0.55 after a slight drop in the fourthquarter of 2009.

Nearly 60% of respondents expect towait until 2012 or later to see the U.S.economy return to pre-recession levels,while 35% expect recovery in 2011. Lessthan 4% expect the economy to reboundthis year. But when it comes toexpectations for when their ownorganization’s prospects will return to pre-recession levels, the timeline slightlyshortens. Only 40% expect it to be 2012 orlater until their organizations recover.Sixteen percent expect full recovery thisyear, while 34% predict it will happen in2011.

Full survey results are available atfmcenter.aicpa.org. The survey, conductedbetween Jan. 27 and Feb. 15, includesresponses from 998 CPAs in business andindustry. Sixty-six percent were CFOs, 26%were controllers, and 4% were CEOs orCOOs. Sixty-eight percent of respondentswork for privately owned entities, 10% forpublic companies, 15% in government oreducation or for associations or nonprofits,and 4% for foreign-owned companies.

Article by Megan Pinkston([email protected]), the Journal ofAccountancy’s online editor and manager ofjournalofaccountancy.com.

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AAlleexxaannddeerr,, VVaann LLoooonn,, SSllooaann,, LLeevveennss &&FFaavvrree,, PPLLLLCC, a Gulf Coast based CPAfirm, Finalist for the 2006 Best Places ToWork in Mississippi award, is acceptingresumes’ for Senior In-Charge LevelAuditors.. CCoommppeettiittiivvee ssaallaarryy,, ggrreeaattbbeenneeffiittss,, lliimmiitteedd ttrraavveell aanndd oovveerrttiimmee ––oouuttssttaannddiinngg ppllaaccee ttoo wwoorrkk!! Sendresume’ to the following address (NoCalls): Mail to: Attn: Cindy Moore, 9490Three Rivers Road, Gulfport, MS 39503;E-mail: [email protected]; Fax: (228)863-1165

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HHAADDDDOOXX RREEIIDD BBUURRKKEESS && CCAALLHHOOUUNNPPLLLLCC seeks experienced audit and taxprofessionals interested in a rewardingcareer with one of the most establishedand respected CPA firms in the Jacksonarea. Excellent benefit package,competitive salary, and opportunity foradvancement. Flexible work schedule isan option. Contact Debbie Holbrook([email protected]) or mail resumein confidence to P.O. Drawer 22507,Jackson, MS 39225-2507. For moreinformation, visit our website atwww.hrbccpa.com.

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KKPPMMGG LLLLPP seeks experienced auditprofessionals interested in a rewardingcareer with one of the largest and mostdynamic CPA firms in the world.Competitive compensation, excellentbenefits and ample opportunity foradvancement are offered. Mail resumesin confidence to 188 E. Capitol Street,Suite 1100, Jackson, MS 39201, [email protected] , or visit our websiteat www.kpmg.com.

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JJAACCKKSSOONN CCPPAA FFIIRRMM of Breazeale,Saunders & O’Neil, Ltd. is seekingexperienced audit and tax professionals,both full time and part time. Our staffenjoys state-of-the-art technology,intellectually challenging assignmentsand meaningful opportunities to enhanceprofessional and personal skills. Inaddition to an excellent compensationpackage, we offer a family atmospherewith a strong emphasis on client-centeredprofessionalism. Send resume inconfidence to P. O. Box 80, Jackson, MS39205-0080. FAX 601-355-9003.

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CCAALLCCUULLAATTOORRSS PPLLUUSS is now handlingthe Monroe Calculators and supplies CallChester Wasser at 601-709-0371 or 888-264-3939 for more information andspecial CPA pricing.

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JJIIMM BBUURRFFOORRDD, AGENT FORACCOUNTING PRACTICE SALES -WHERE PRACTICE SELLERS AND BUYERSMEET!!! We have a lending source thatwill lend 100% of purchase price ofaccounting practices plus operatingfunds, 10 year loan amortization period,with no down payment, to party that hasgood credit and at least 2 years of relativeexperience. An excellent opportunity toopen your own office or expand anexisting office.ACCOUNTING PRACTICES FOR SALE: MS practice Gross $1,020,000 *Southeastern LA practice Gross $382,000* Vicksburg Practice Gross $86,000 *Ocean Springs Gross $270,000 * Practice 1hour south of Tupelo Gross $85,000 *Lake Charles, LA Gross $558,000 *Jackson Purchase Area of KY Gross$758,000.Thinking of selling? We have qualifiedbuyers waiting and an ever expandingdata base of qualified buyers and 100%cash out financing available to close thesale of your practice within 90 days. TOLIST YOUR PRACTICE WITH US OR TOCHECK OUT OUR CURRENT LISTINGSCall me, JIM BURFORD, CPA TOLL FREE(800) 340-7002 or visit our website atwww.accountingpracticesales.com or e-mail me at [email protected]

MARCH CLASSIFIEDSCONTINUED FROM PAGE 20

PRSRT STDU.S. POSTAGE

PAIDJACKSON, MSPERMIT #814

Mississippi Society of Certified Public Accountants

and its Education Foundation306 Southampton RowRidgeland, MS 39157

CLASSIFIEDSphysician and institutional clients. Fiveyears experience with Masters Degreepreferred. Candidate must have extensiveknowledge in the area of physicianpractice management, including codingand reimbursement. Excellent benefitsand opportunity for advancement. Toapply, email [email protected] or faxto 601-649-5233

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FFrreedd TT.. NNeeeellyy && CCoo, CPAs is seeking asenior level audit and tax professional.Competitive salary, excellent opportunityfor advancement, great benefits packageand no travel. Please send resume to P OBox 894, Greenwood, Ms 38935-0894

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WWmm.. FF.. HHoorrnnee && CCoo..,, PPLLLLCC is seeking afull-time audit supervisor for Hattiesburgand Laurel, Mississippi area. Excellentbenefits and competitive salary withopportunity for advancement. To apply,email resume to [email protected] fax to 601-649-5233.

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PPrrooffeessssiioonnaall SSttaaffff:: MMaayy && CCoommppaannyy,,LLLLPP,, in Vicksburg, a recipient of theMississippi Business Journal’s 22001100 BBeessttPPllaaccee ttoo WWoorrkk iinn MMiissssiissssiippppii,, is lookingfor highly motivated tax and auditprofessionals. We offer competitivecompensation, excellent benefits andopportunities for advancement in arelaxed environment. May & Companyis extremely employee friendly with paidovertime or comp time, minimal out oftown overnight travel, and opportunitiesin tax preparation and auditing. Mailresumes with confidence to Attn: HumanResources, P.O. Box 821568, Vicksburg,MS 39182-1568 or email [email protected].

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BBKKDD,, LLLLPP,, one of the 10 largest CPA andadvisory firms in the U.S., is looking forexperienced audit and tax professionalsfor its Mississippi offices. Candidatesmust have CPA or be CPA eligible. For a

WWiillssoonn AAuuttoo GGrroouupp is seeking a leaderwho can take over as Controller/OfficeManager and progress through thetraining opportunities to themanagement company CFO or evenpossibly a future General Managerposition a few years down the road. Theideal person would be a CPA with 3 ormore years audit experience at the SeniorAssociate level or higher and haveAutomobile Dealership accountingexperience. Applicant must have astrong personality and be able to“control” the organization thru processes,systems, policies and procedures. WilsonAuto Group offers an organizationalstructure committed to Christianprinciples, family friendly schedule andof course, no travel. Starting salary willdepend on experience. An accountingdegree is mandatory as is impeccablecharacter and prior Automobiledealership experience. Wilson Autos isalso looking for people of strongcharacter who could learn the businesson the SALES track or SERVICEdepartment track with an idea of fillingthe leadership/management vacancieswhich will occur as we grow. Applicantsshould contact Shana Krapovicky, HRManager at [email protected].

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FFiinnaanncciiaall && RReeppoorrttiinngg MMaannaaggeerr: BlueCross & Blue Shield of Mississippi has achallenging and rewarding opportunityfor an experienced CPA. This opportunitytakes place in a “be healthy” culture thatpromotes excellence, work/life balanceand health and wellness. We offer ouremployees a comprehensive andcompetitive compensation and benefitpackage. To apply visit www.bcbsms.com.

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WWmm.. FF.. HHoorrnnee && CCoo..,, PPLLLLCC seeks HealthCare Consultant: South Mississippi PublicAccounting firm seeking full-time healthcare consultant to work with their

closer look at BKD, please visitwww.bkd.com.

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CCPPAA FFIIRRMM seeking experienced or entrylevel auditors that live in the Central toSouth Delta region of Mississippi.Competitive salary and benefits withlimited travel. No overnight trips orweekend work. Reply in confidence toFile #401, c/o MSCPA, 306 SouthamptonRow, Ridgeland, MS 39157.

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The firm of GGrraanntthhaammPPoooollee CCPPAAss, pastrecipient of the Mississippi BusinessJournal’s prestigious BBeesstt PPllaacceess ttoo WWoorrkkiinn MMiissssiissssiippppii award, is looking for greatstaff additions. If you love taxpreparation and planning and enjoytaking excellent care of clients, we mayhave a home for you. Full time, seasonal,and part-time staff members are allvalued at GranthamPoole. Competitivesalary, partner track, great benefits, andexcellent opportunity for advancementall make GranthamPoole an outstandingplace to work! Send resumes to 6360 I-55North, Suite 101, Jackson, MS 39211, faxto 601-957-9599 or [email protected].

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CCoommee jjooiinn tthhee Wolfe, McDuff, & Oppieteam – the firm of choice on theMississippi Gulf Coast. We haveopenings at all levels, each withopportunities for advancement. We arelooking for ambitious, energetic and self-starting individuals who seek a career inpublic accounting. You must becomfortable working in a laid-back,flexible environment. We offercompetitive salaries, bonus opportunities,great benefits and excellent growthopportunities. Send your resume [email protected] or fax to 228-762-4498.

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CLASSIFIEDS

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