CPA IN Perspective Summer 2014

1CPA IN Perspective SUMMER 2 014

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incpas.org

NetworkingINCPAS 2025100 Years of Professionalism

INCPAS members share how the CPA Center of Excellence® is making them better CPAs

With uncertainty and disruption in today’s health insurance industry, we would like to remind and outline why the Indiana CPA Society Health Insurance Program is an option for all members (individuals/firms) across the state. Individuals and firms in the under 50 employee marketplace will soon see a change in the way their coverage is priced. For renewals after January 1, 2014 health insurance companies are no longer able to base premiums on gender, health status, medical condition, medical history, small employer size, occupation or industry. This restriction on rating, called modified community rating, has the potential to create significant disruption to firm in the small group marketplace. This coming renewal season all members can look towards the INCPAS Health Insurance Program for help. Listed below is a short Q&A for those who might know little about the INCPAS Health Insurance Program.

Q: What is the INCPAS Health Insurance Program?A: The INCPAS Health Insurance Program is a large group association medical plan through Anthem Blue Cross Blue Shield that offers four major medical plans, three PPO plans and one Health Savings Account plan. The Program offers the full Anthem network, as opposed to narrow hospital/physician networks offered by many insurance plans and the program has enjoyed consistent and reasonable renewals.

Q: Who is a good candidate for the Program?A: As the plans aren’t subject to modified community rating, any member firm/individual who has been impacted by community rating is a good candidate. All participants entering into the program are underwritten according to their individual health risk.

Q: Does it matter if I join as a firm or as an individual?A: Both individuals and firms are able to participate in the Program; the only difference being the application paperwork.

Q: How does one obtain pricing or enroll into the Program?A: To receive a quote or enroll into the Program all participants must complete a shortened Anthem application with five medical questions. To receive this application please contact Andrew Frandsen at Shepherd Insurance.

Visit INCPAS.org/insurancefor more information

Prospective Program Members:Andrew [email protected]

Current Program Members:Cheryl [email protected]

Get with the INCPAS Health Insurance Program

Endorsed partner and health plan advisor for the INCPAS


START

Job DesignStrategy

Recruitment & Selection

1 2

3

Succession Planning

8

Reward & Recognition

6

ExitInterviews

9

Induction

4

Learning & Development Path Begins

PerformanceAppraisal

5

Ongoing ProDevelopment

7

The Human Resource Pathway

Members 2 Chair’s Perspective

3 Your Trusted Network

4 New Members

8 Day in the Life

The CPA Profession10 Successful Exam Candidates

12 Enhancing the CPA Designation Through Diversity

14 Professional Development Tools & Resources

15 Did You Know?

The Society20 Advocating for Members

23 Upholding Integrity

40 100 Years and Counting

Features24 Networking

26 CPA Couples’ Therapy

28 INCPAS 2025

30 A Different Option

31 CPA Center of Excellence®

35 CPA Excellence a Quick Start Guide

39 Read It Online

ContentsCPA IN PERSPECTIVE Summer 2 014 Vo lume 11 Number 3

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

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

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

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

© 2014 Indiana CPA Society. All Rights Reserved.

Online

WATCH What it’s like to run audit at a cooperative company youtube.com/incpas

READSuccession Planning and Collaboration at incpas.org/digitaledition

CONNECT Get social with INCPAS on Facebook, LinkedIn or Twitter

COMMENTFollow the new trends and hot topics in the CPA profession with the Fusion Network at: cpacoe.incpas.org/explore/blogsmain/blogs

BOARD OF DIRECTORS

OFF ICERS:Kent J. Williams, CPA, CGMA, ChairSteven L. Beardsley, CPA, CVA, Chair-ElectRoger A. Booth, CPA, CGMA, Vice ChairBettie A. Caldwell, CPA, CGMA, Vice ChairJohn D. Sauder, CPA, CGMA, Vice Chair

DIRECTORS:Lorita K. Bill, CPA, CGMAJennifer R. Clutter, CPA, CGMATroy J. Gilstorf, CPAShannon E. Kane, CPA, CGMAErland C. Porter, CPARobert E. Reynolds, CPA, CGMAThomas D. Wadelton CPA, CGMARobert A. Woods, CPA, CGMADouglas A. York, CPA, CGMA

PUBL IC MEMBERS:Steven R. JohnsonMcKenzie Scott Lewis

CPA IN PERSPECTIVE

PRES IDENT & CEO: Gary M. Bolinger, CAE

EDITOR-IN-CHIEF/ ADVERTISING INFORMATION: Dave Shatkowski

MANAGING EDITOR: Stephanie Parton, CAE

CONTRIBUTING WRITERS: Elise LeBlanc, Allison Paul

CREATIVE SERVICES MANAGER: Jessica Halverson

40 8

12 24

CPA IN Perspective SUMMER 2 0142

Planting Today for Growth in 2025By Kent Williams, CPA, CGMA

First, I want to thank Steve Eichenberger CPA, CGMA, for his excellent leadership this past year as chair. His dedicated service to the members and his thoughtful and consistent leadership are an example

we should all follow.I also want to thank Gary Bolinger, CAE, and the staff for their

dedicated and enthusiastic service to the members of the Society. We are very fortunate to have a Society staff that is innovative and entrepreneur-ial with the intention of helping us as individuals and the profession as a whole move forward in the state of Indiana.

At the turn of the last century, America was entering a new industrial age that could be described as growing in businesses such as the railroads, steel mills, and the oil industry, and increasing in complexity requiring new skills and services needed by those businesses. At the same time, pub-lic accounting firms were popping up in many of the larger cities around the country including Indianapolis.

In 1915, Charles Freeman, described as the “Consulting Accoun-tant” and entrepreneur, gathered several of his associates and incorpo-rated the Indiana Association of Certified Public Accountants later to be known as INCPAS.

The Association’s purposes were to:

1. Advance the interest of CPAs

2. Promote the study of accountancy

3. Hold lectures and classes of instructions

4. Cultivate a spirit of professional cooperation among its members

5. Establish high standards

6. Better recognition of the profession

7. Create more general public interest in improved systems and methods

Similar to the time of the turn of the century, today we too have new industries, increasing complexity, and the coming together of CPAs to meet the needs of a multitude of businesses and organizations. Though things are obviously much different today, some things remain the same. These original tenets of the IACPA still hold true.

When reflecting upon its early leadership, the founders could be characterized by their willingness to try new things and their perseverance when some of those things did not go as planned. We too have tried new things and accomplished much over the last five years. As we approach this next year, we find ourselves in a unique and similar position as those who started the Society. We have an incredible opportunity coupled with significant responsibility.

We will be asking each of you for thoughtful and innovative input for the purpose of positioning the profession and INCPAS for 2025. Your engagement over the next year will make a difference. Your input matters

because it impacts our members, the profession, INCPAS, and the next 100 years of our profession in Indiana. Therefore, I would encourage you to get involved at some level such as volunteering for INCPAS, participat-ing in the CPA Center of Excellence® Online, or attending the Profes-sional Issues Update in your area.

My wife and I have been considering what type of trees to plant and where to plant them, due to the fact that many of our trees are very old. If we want shade on certain parts of the lawn or house, we need to plant the new trees before the others die or are destroyed by unforeseen events. Most likely it will take 10 years before we enjoy any significant shade from these new trees.

I think the same is true for INCPAS. It is important to think and plan 10 years out if we want certain changes to occur. We need to plant now. We cannot wait for change; we need to facilitate change. The fruit of our past five years of planning are evidenced by the work accomplished in knowledge management, CPA Center of Excellence®, future of compe-tency, INCPAS Scholars program, diversity initiatives, Genesis group, Fusion Network and integrated reporting, etc. When I think about INCPAS 2025, it is our opportunity to take the work we have accom-plished through your support, and focus it on positioning INCPAS and its members for the future. Three board task forces and INCPAS staff will embark on an effort to do just that.

I do not mean to be morbid, but none of those who were involved in establishing INCPAS are with us today. Yet, they were willing to try something that I am sure they knew would not just benefit them but those that would follow. Most likely none of us will be around 100 years from now to see the benefits of the decisions we make this year. Yet, as I consider each of the 8,000 professionals who are members, I am reminded each of you is playing a part in the future. I encourage and challenge you to consider doing something extra this year for INCPAS. I believe that if each of us does one extra thing for INCPAS it will make a difference to the CPA profession in Indiana. That extra thing you do for INCPAS may or may not directly benefit you, but I believe that it will benefit others in the future, just like those who laid the foundation 100 years ago. Remember, we turn 100 only once.

We will celebrate 100 years on May 15, 2015. I think we are all looking forward to that event. However, between now and then we have much work to do. I would like to leave you with this thought, “The steps we take today will determine where we will stand tomorrow.” What step will you take to help lay the foundation for the next 10 to 100 years?

I look forward to serving as your chair and working together with you in order to enhance the reputation and success of our current members, while ensuring the next generation will enjoy the same and hopefully better benefits than we have.

[email protected]

Chair’s Perspective


APPOINTMENTS

Michael Barton, staff accoun-tant, Petrew, Lehuis, Vincent & Kane, PC, Indianapolis.

Will DeClercq, senior accoun-tant – audit, Blue & Co., Indianapolis.

PROMOTIONS

Beth Karnes Huffman, CPA, chief operating officer, Foster Results, Westfield.

MEMBER NEWS

Monica Brickel, CPA, of Krug-gel Lawton CPA was named to Michiana’s Forty Under 40 by the St. Joseph County Chamber of Commerce.

Ball State University presented the following members with Accounting Alumni Awards:

Carl George, CPA, Lifetime Achievement, Gregory Arnott, CPA, Award of Excellence, Sarah Reisman, CPA, and Joshua Sickler, CPA, for Emerging Leaders, and Justin Proctor and Brittany Schutter, CPA, for 3 Under 30.

Jamon Hammel, of David Culp & Co., LLP, received an award for scoring in the top one percent of candidates tak-ing the Certified Management Accountants Exam.

Kenneth Williams, CPA, CFP, of the Internal Revenue Service, received the AICPA 2014 Outstanding CPA in Government Impact Award.

Paul Wonch, CPA, ABV, CVA, MAFF, of K.B. Parrish & Co. LLP, has been elected to the Ethics Oversight Board of the National Association of Certified Valuators and Analysts.

Your Trusted Network announcements should be sent to Elise LeBlanc at [email protected].

Your Trusted Network

Your Trusted Network

DeClercq

Williams

Brickel

Hammel

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New Members

AFFILIATE Business Professional

Susan M. Andrews, ExecAssist, LLC

Ross M. Bennett, Woodley Farra Manion Portfolio Management

Ryan V. Emerson, Kehlenbrink, Lawrence & Pauckner

George S. Farra, Woodley Farra Manion Portfolio Management

Kyle W. Harlemert, Woodley Farra Manion Portfolio Management

Andrea L. Lipp, Woodley Farra Manion Portfolio Management

Michael P. Manion, Woodley Farra Manion Portfolio Management

Donald F. Woodley, Woodley Farra Manion Portfolio Management

Firm Administrator

Kathy D. Geiger, Geiger, CPA, PC

Non-CPA Accounting

Joan M. DiMartino, Craighead, Lange and Hough, P.C.

Judith A. Dyer, Bucheri, McCarty & Metz, LLP

Brian S. Hite, Syndicate Sales, Inc.

Debra K. Pitman, Bucheri, McCarty & Metz, LLP

Nicole S. Stickford, Electro-Spec

Kyle A. Thompson, Veolia Water North America

ASSOCIATE

Jonathan A. Bickers, Deloitte

David Cathcart, KPMG, LLP

Frank P. Davis, Gauthier & Kimmerling, LLC

Jennifer E. Garrison, Larsson, Woodyard & Henson, LLP

Brennan A. Granger, BKD, LLP

Daisy L. Pham, Ernst & Young LLP

Ekaterina A. Pronina, Dauby O’Connor & Zaleski, LLC

Robert D. Rogers, Stampfli Associates, CPAs, P.C.

CANDIDATE

Alice C. Bowers, Syndicate Sales, Inc.

Grant K. Brackin, BKD, LLP

Melissa R. Brouhard, BKD, LLP

Daventry T. Burroughs, KB Parrish & Co., LLP

Stephanie J. Carlile, BKD, LLP

Colby J. Chamberlin, Pile CPAs

Elisabeth R. Cline, A.C.T. Services, Inc.

John R. Collins, Gauthier & Kimmerling, LLC.

Michael T. Crosby, Indiana Benefits, Inc.

Kiahna W. Davis, Hawker Beechcraft Services

Stefanie L. Foddrill, Subaru of Indiana Automotive, Inc.

Eric F. Geary, Sherck, Hussey, Johnson & McNaughton, LLC

Jeffrey M. Graf, Federal Home Loan Bank of Indianapolis

Jacob A. Hollenbaugh, BKD, LLP

Michael D. Hunsche

Jeffrey J. Jurgonski, Jurgonski & Fredlake CPAs

William Lagunas, BKD, LLP

Eric H. Lebold, Insight Accounting Group

Rachael Melendez, Watermark CPA Group, LLC

Douglas M. Murphy, Dauby O’Connor & Zaleski, LLC

Jordyn J. Myers, Haines, Isenbarger & Skiba, LLC

Kaci L. Ogden, Larsson Woodyard and Henson

Andrew D. Power, BKD, LLP

Jane A. Rauck, Midwest Tax Group

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

Kevin J. Schlotter, BKD, LLP

Jenna M. Schnellenberger, Dauby O’Connor & Zaleski, LLC

Justin B. Schwartz, Alerding CPA Group

Acacia T. Scott, BKD, LLP

Brandt J. Showalter, Pile CPAs

Derek A. Thieme, Bradley & Associates, Inc.

RESIDENT

Jennifer L. Abell, CPA, OFS Brands Holdings, Inc.

Angela A. Adams, CPA, Innovative Accounting Solutions, LLC

Kristi L. Adkins, CPA, KPMG, LLP

Shuron Agnew, CPA, Pedcor Companies

Christopher A. Ambroziak, CPA, General Sheet Metal Works

Robert K. Anderson, CPA, Robert L Morris & Co., PC

Christine N. Antrobus, CPA, VanRooy Properties

Blake E. Applegate, CPA, Applegate & Company, CPAs

Megan M. Applegate, CPA, Applegate & Company, CPAs

Zacharie L. Baird, CPA, Herff Jones, Inc.

Douglas P. Barnack, CPA, Dimensions Furniture

Ashley L. Barnhart, CPA, CliftonLarsonAllen LLP

Lynne M. Beard, CPA, Utility Supply Company

Christina L. Beck, CPA, KYB Americas Corporation

Patrick E. Bell, CPA, Larsson, Woodyard & Henson, LLP

Blair A. Bellamy, CPA

Anthony M. Born, CPA, HH Gregg

Jennifer D. Brinkman, CPA, Crowe Horwath LLP

Theresa R. Brown, CPA, Concordia Theological Seminary

Kent Burns, CPA, Simply Driven

Garrett R. Cannizzo, CPA, McGladrey

Linda K. Cavanaugh, CPA, Indianapolis Power & Light Co.

Marla D. Coffman, CPA, Larsson, Woodyard & Henson, LLP

Joseph A. Colone, CPA, Dulin, Ward & DeWald, Inc.

Jaclyn D. Cooper-Galey, CPA, Kemper CPA Group, LLP

Amanda S. Cox, CPA, Weinzapfel & Co, LLC

Elizabeth A. Davis, CPA, McGladrey

Holden A. Davis, CPA, Larsson, Woodyard & Henson, LLP

Thomas M. Davis, CPA, Larsson, Woodyard & Henson, LLP

Paul A. Davison, CPA, Ernst & Young

William F. DeClercq, CPA, Blue & Co., LLC

Nicole C. Deter, CPA, Nico Corporation

Megan E. Faulkner, CPA, Larsson, Woodyard & Henson, LLP

Beth A. Feldman, CPA, Accounting Strategies, Inc.

Joseph S. Giordano, III, CPA, Drew Industries, Inc.

Eric Graybill, CPA, ACTIA Corp.

Janet M. Haley, CPA, CliftonLarsonAllen LLP

New MembersINCPAS welcomes new

and returning members from January 1-May 31, 2014.


Quinn R. Haselhorst, CPA, Interactive Intelligence

Peter R. Haupers III CPA, BGBC Partners, LLP

Jonathon R. Hendricks, CPA, Bucheri McCarty & Metz LLP

John E. Hiatt, CPA, Crown Products and Services, Inc.

Luke A. Hofmeyer, CPA, The Seigel Group, LLC, CPAs

Lauren D. Huber, CPA, Roche Diagnostics Corporation

Todd A. Huettemann, CPA, Eli Lilly and Company

Cheryl L. Huth, CPA, Ingram Micro Mobility

Derrick A. Hutson, CPA, NEWJAC, Inc.

Andrea L. Jackson, CPA, Ingram Micro Mobility

James T. Kelliher, CPA, CRG Residential

Michael D. Kniery, CPA, Crowe Horwath LLP

L. Christopher Knight, CPA, Federal Bureau of Investigation

Katie E. Knoll, CPA, Larsson, Woodyard & Henson, LLP

Olga V. Korne, CPA, Indiana University Kokomo

Rose A. Kousky, CPA, Crowe Horwath LLP

Walter C. Kramer, CPA, William A Kramer & Associates, Inc.

Elizabeth A. Krieg, CPA

David D. Lafiosca, CPA, NCAA

David C. Lane, CPA, Ernst & Young LLP

Brian W. Lapp, CPA

Todd H. Leyden, CPA, NCAA

Xue Lin, CPA, Crowe Horwath LLP

Daniel B. Mandel, CPA, HH Gregg

Todd E. Martin, CPA, McGladrey

Benjamin A. May, CPA, IU Health Goshen

Adrienne P. McCormick, CPA, Myers and Stauffer LC

Robert D. McLin, CPA, Good Samaritan Hospital

Jennifer A. Millar, CPA, Crowe Horwath LLP

Leslie A. Mimms, CPA, Sun Development and Management Company

Eric A. Mlynarczyk, CPA, ArcelorMittal USA

Gabriel M. Montes, CPA, Crowe Horwath LLP

Samuel D. Muse, CPA, OneAmerica Financial Partners

Michelle R. Musolf, CPA, Indiana Tech

Bradley L. Oakley, CPA, Larsson, Woodyard & Henson, LLP

Peter T. O’Neill, CPA, Crowe Horwath LLP

Robert A. Ott, CPA, Sewanee, The University of The South

Yangbairu Ou, CPA, WellPoint, Inc.

Robert R. Padget, CPA, Myers and Stauffer LC

Brandon M. Palaldino, CPA, Crowe Horwath LLP

James M. Peirce, CPA, Krouse, Kern & Company, Inc.

Jaksa Pejnovic, CPA, Toyota Material Handling, USA, Inc.

Julie D. Phillips, CPA, University of Notre Dame

Lauren E. Plennert, CPA, University of Notre Dame

Natalie K. Polk, CPA, Lincoln Hills Development Corporation

Dan C. Quinn, CPA, BKD, LLP

Joseph R. Reese, CPA, L. M. Henderson & Company, LLP

Robert D. Reynolds, CPA, London Witte Group, LLC

Jeremy D. Rollins, CPA, Delta Faucet

Paul F. Roth, CPA, Blue & Co., LLC

Adam P. Royer, CPA, DePuy Orthopaedics, Inc.

Daniel J. Sailer, CPA, Katz, Sapper & Miller, LLP

Jillian K. Schmiedt, CPA, Dow AgroSciences, LLC

Kristin S. Schrader, CPA, The First National Bank

Ashley N. Seibert, CPA, Harding, Shymanski & Co.

Christopher R. Shell, CPA, Steel Dynamics, Inc.

Philip A. Shenk, CPA, Crowe Horwath LLP

Jordan L. Sherman, CPA

Chaz J. Simpson, CPA, Crowe Horwath LLP

Priya R. Singleton, CPA, Blue & Co., LLC

Britte D. Stein, CPA, Biomet, Inc.

Michael L. Still, CPA, Ernst & Young LLP

Christopher J. Stolz, CPA, Oji Intertech, Inc.

Matthew Stosich, CPA, McMahon and Associates, CPAs, PC

ShuYu Tien, CPA, Federal Home Loan Bank of Indianapolis

Patricia A. Tokar Canton, CPA, Patricia Tokar, CPA

David A. Wagley, CPA, Hamil, Lehman & England, PC

James R. Wallace, CPA, David L. Wade & Associates, PC

Daniel G. Waples, CPA, Crowe Horwath LLP

Jason R. Warford, CPA, Clem, Dassel & Co.

Sheila F. Welton, CPA, Smithville Communications

James Wiley, CPA, White River Group

Jeffrey S. Williams, CPA, Gaylor Group, Inc.

Kaycie M. Winstead, CPA, Brown, Smith & Settle, LLC, CPA

Gerald D. Winters, CPA, G D Winters, Inc.

Danny K. Woods, CPA, Miller & Stewart, LLC

Gregory S. Zeigert, CPA, LaSalle Bristol

Patrick K. Zimmermann, CPA, Ingram Micro Mobility

SENIOR

Donald W. Peters, Donald W. Peters, CPA

STUDENT

Morgan T. Akre, Saint Joseph’s College

Becky S. Archer, Indiana University South Bend

Heather S. Armor, Franklin College

George M. Atkinson, IUPUI

Arjun Bahalla, Franklin College

Steven M. Ball Jr. Indiana Tech

Brandon M. Bartley, Indiana University

Sankalp Bhatnagar, Indiana University Southeast

Samiya I. Boyd, Indiana Tech

Jeremy J. Bragg, Purdue University Calumet

Patricia C. Brenamen, IUPUI

James A. Brugh, Indiana University South Bend

Ashley G. Caldwell, Saint Leo University

Nortorsha K. Campbell, Purdue University Calumet

Matthew A. Caras, IUPUI

Gary D. Carter, Ball State University

Molly C. Chenoweth, Indiana University South Bend

Lisa R. Chiplis, IUPUI

Adrian I. Chisu, DeVry University

William A. Clinkscales, IUPUI

Hila S. Collier, Franklin College

Troy M. Cookerly, IUPUI

Jason C. Creakbaum, Indiana University South Bend

Zhao Cui, Purdue University

Leticia Culajay, IUPUI

Raymond F. Daniels, Indiana Institute of Technology

Haylie M. Davenport, Saint Mary-of-the-Woods College

New Members


Chelsea R. Davis, Gleim

Mitcheal L. Davis, Indiana University South Bend

Camden J. Dean, University of Southern Indiana

Manraj S. Dhaliwal, IUPUI

Colleen A. Diemer, Marian University

Mary Ann. Dillman, Indiana State University

Rebecca A. Dixon, Northcentral University

Robert Dyer, Marian University

David N. Eckhart, IUPUI

Kelli Ellison, Indiana University

Patricia Escobedo Mendoza, Indiana University South Bend

Todd J. Ferrell, IUPUI

Gregory S. Fitzpatrick, Indiana Wesleyan University

Lia C. Fligor, IUPUI

Silvia Frausto, Purdue University Calumet

Austin Friesen, Taylor University

Megan J. Gard, Indiana State University

Reginald M. Gichanga, Indiana University South Bend

Deepinder S. Gill, Ball State University

DeJon M. Gonzalez, Purdue University Calumet

Faith Gretzinger, Anderson University

Wangming Guan, IUPUI

Lisa M. Guzowski, Indiana University South Bend

Brandon Hathaway, University of Saint Francis

Leah M. Hayman, Indiana University South Bend

John C. Haynes, IUPUI

Donald A. Heath, Ball State University

Austin L. Hill, Indiana State University

Jessica N. Hill, Ball State University

Allison Manee Burkey Hintz, IUPUI

Dawnna F. Hixon, IUPUI

Lorrie M. Hopper, Indiana University South Bend

Zachary J. Hopper, Trine University

Will G. Hosfield, Indiana State University

Kelly E. Hosford, Taylor University

Karen S. Hottenstein, Indiana Wesleyan University

Glenn E. Hoyer, Purdue University

Zhe Hu, Indiana University South Bend

Jialu Huang, Purdue University

Gavin M. Hudson, IUPUI

Luke M. Hudson, Indiana University South Bend

Susan E. Huehls, IUPUI

Keith A. Irwin, Indiana University

Myssir Isa, Purdue University Calumet

Charisse N. Isabell, Purdue University Calumet

Sanja Jasnic, Indiana University Northwest

Amy M. Jordan, Franklin College

Monét L. Jordan, Indiana State University

Cristin L. Just, Indiana University Northwest

Hailey N. Karagias, Purdue University North Central

Decko L. Keith, Ivy Tech

Maria R. Knight, Purdue University

Michelle Kom Lienou, IUPUI

Sarah Kovatch, Indiana University South Bend

Courtney A. Kvachkoff, Saint Joseph’s College

Nikita Ladha, IUPUI

Amanda M. Laflamme, IUPUI

Emily E. Lantz, IPFW

Lauren E. Lashbrook, Indiana University South Bend

Jae Dong Lee, University of Notre Dame

Zulema L. Lee, Indiana University South Bend

Meng Li, IPFW

Andres D. Limon, Indiana University South Bend

Nicole A. Loshe, IPFW

Joseph M. Lothspeich, IUPUI

Brianna J. Lubelski, Indiana University South Bend

Miranda G. Lundy, Purdue University Calumet

Nkululeko Mahlangu, IUPUI

Andrea L. McConnaughey, IUPUI

Joseph D. McCormick, Indiana State University

Iyassu G. Meskel, IU Kelley School of Business

Sairah Mirza, Indiana University Northwest

Anamaria Mitrovic, Purdue University Calumet

Dustin L. Moore, University of Saint Francis

Si Mou, Indiana University South Bend

Dennis O. Mukobe, IUPUI

Essence S. Neely, Indiana University

Brittany T. O’Donnell, Saint Joseph’s College

Patrick O’Grady, IUPUI

Lucas P. Olson, Indiana University

Lincoln B. Pace, Indiana State University

Tatyana Panchelyuga, Indiana University South Bend

Daniel T. Parker, Indiana University South Bend

Rosalyn K. Plank, Grace College

Britley A. Platfoot, Indiana University East

Vince A. Pollard, IUPUI

Nathan W. Price, Trine University

Zachary L. Puckett, Grace College

Nicholas J. Ream, DeVry University

Kyle J. Reynhout, Calvin College

Thomas C. Rivera, Purdue University Calumet

Devonne M. Robertson, WGU Indiana

Alyson D. Rodgers, Oakland City University

Stephanie L. Rollins, Indiana State University

Stephen M. Salisbury, Indiana University South Bend

Stephanie L. Scheimann, Indiana University South Bend

Sierra Schuck, Indiana University South Bend

Jeffrey L. Skaggs, IUPUI

Erin E. Smith, Indiana University South Bend

Joshua C. Smith, Indiana Wesleyan University

Luke A. Snyder, Franklin College

Terry D. Snyder, DeVry University

Jesica Soriano, Anderson University

Jeremiah J. Stichter, Anderson University

Matthew Stowe, IUPUI

Tameka L. Surrett, Indiana Tech

Shelisa M. Thomas, Purdue University Calumet

Ramses Thomas-Miller, Ball State University

Andrew J. Thompson, Indiana Tech

Tanner C. Thurman, Indiana State University

Jennifer L. Timmons, Indiana University South Bend

Karole D. Trump, Saint Leo University

Brandon M. Underwood, Purdue University Calumet

Megan N. Walker, Martin University

Guangchao Wang, Purdue University

Xue Wang, IUPUI

Yibing Wang, IUPUI

Beacher Ward, Indiana University South Bend

Tim A. Warner, Indiana University South Bend

6

New Members

Continued on page 39...

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Day in the Life

Nicklas S. Talarico, CPA, CGMA

Time in CPA Profession: Nine years

Company: Do it Best Corp., Fort Wayne

Industry: A member-owned cooperative that distributes hardware, lumber and building products

Size: Approximately $3 billion in revenues and 1,200 employees across the United States

Why I decided to become a CPA: I did not take the normal route to become a CPA. I graduated from Purdue University with a degree in management. Immediately after graduation I began working at a privately-held mortgage company in their refinance division. During that time frame, I was floundering around, not feeling like I was adding value and not being challenged. I learned something invaluable: I had a job but I wanted a career. My wife and I talked about different avenues to pursue including law and medicine but ultimately I wanted to be involved in business. I turned to my dad, a fellow CPA, and he convinced me to go into public accounting. It was a fantastic decision and opened up many different doors for my future.

Coolest thing about my job: I honestly do not think I can list only one item, but here it goes. I would say that I love working for Do it Best Corp. I explained it to someone at lunch recently. While in public accounting you realize there are three types of compa-nies: Those that don’t even care to have a mission, those that have one written on their walls, and those that have it on their walls and actually believe in it. Do it Best Corp. is the latter and is in the minority. Our philos-ophy is: Serving Others as You Would Like to be Served. How can you get any better than that?

Why I’m involved at INCPAS: Life is not about me. I have been blessed by many things in my life. Many of which have been the result of hard work and determination. I want to give back, whether it is in the community or the profession. Involvement in the Society has been a great experience. I was in the emerging leaders alliance for three years and just wrapped up my first year in the leadership cabinet. I have met wonderful people during this time. They care about not just their CPA designation, but every CPA’s designation in the state of Indiana.

Day in the Life: Nicklas Talarico, CPA, CGMA

NICKLAS S. TALARICO, CPA, CGMA

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

“While in public accounting

you realize there are three

types of companies: Those

that don’t even care to have a

mission, those that have one

written on their walls, and

those that have it on their

walls and actually believe in

it. Do it Best Corp. is the latter

and is in the minority.”


4:23 a.m.: Wake up. I am a morning person. I sneak into the kid’s bedroom to check in on them before I head out. I get some things and grab my clothes and duffle bag and I head out.

4:57 a.m.: Pull into the parking lot of the YMCA. On today’s agenda is 20 minutes of running followed by 40 minutes of swimming. Step into the steam room on the way back into the locker room for a quick cool down.

6:10 a.m.: Shower and get ready for work.

6:30 a.m.: Head across town to work. I feel my car starting to turn into Starbucks. Every day I tell myself it is the last day I am pulling in … I have a disease. My summer drink is an iced venti skinny caramel macchiato. It tastes so good when it hits your lips!

6:50 a.m.: Pull into work and up to my office. Catch up with my team. Ask about their nights. Spend a few minutes catching up on the news by reading The Wall Street Journal. Then I check my emails and voicemails.

7:30 a.m.: Spend my time reviewing four differ-ent audits that we are trying to wrap up.

9:50 a.m.: A coworker walks into my office to share some exciting career news. We talk about it while walking down to our finance depart-ment for a meeting.

10 a.m.: My meeting is with Doug Roth, CPA (my former boss and now CFO. He is also a past chair of the Indiana CPA Society). We spend the first 20 minutes or so discussing our upcoming year-end and how we are seeing some great sales numbers in June. Then we transition to discussing three audits that are underway.

Each one has a recommendation from audit and I need a response from management. He agrees to the recommendations and provides a timeline for implementation. The meeting is a success. It’s always great talking to Doug. If you don’t know him, look for him at the CPA Celebration next May and introduce yourself.

11:45 a.m.: Lunch meeting with Gary Furst, VP of HR and general counsel. I have been trying to schedule a meeting with Gary for a few weeks now and schedules have been crazy. We decide to grab lunch together to discuss business.

1 p.m.: Back in the office. Check up on emails and voicemails since this morning.

2 p.m.: I have a conference call with the finance director of the Fort Wayne Zoological Society. I have been the treasurer since January and we have a finance committee meeting later in the week. I need to make sure I am prepared. We discuss the May financial results and talk about the zoo’s season so far. Great organization. If you are in the area, come check us out. You can purchase admission tickets online before you go. kidszoo.org Shameless plug!

3 p.m.: Check in with team, respond to mes-sages and start tying up loose ends.

4:15 p.m.: Head home

4:45 p.m.: Give hugs and kisses to my wife and kids and catch up on their day. We sit down as a family for early dinner tonight. There is a lot to do.

5:15 p.m.: My wife and I head outside in the heat and start working on our deck. I have never really considered myself a handyman, but I recently got my MBA and I need to fill my

time somewhere. We have been working on it for just over a week. Status so far: Dug all 20 of the holes by hand, poured the concrete and set the posts. Tonight we are working on wrapping up installing the joists. Honestly, this project has been a lot more difficult than I expected. It has also been more fun. I am hoping the whole deck will be completed in less than two months. But there is still a lot of work to do.

6:45 p.m.: Got a good hour or so in. Time to take a quick shower and head over to church for practice. I have been playing guitar for church for many years now. I have a great time. In addition, I found guitar is a great way to relieve stress.

8:30 p.m.: Back home after practice. Start getting the kids ready for bed while laying out my stuff for the next day. Spend the remaining time talking to my wife.

9 p.m.: It’s been a long day and I am calling it a night! My wife and kids tell me goodnight.

Do you think a day in your life would make a good addition to our series? Contact INCPAS Senior Manager — Marketing Communications Stephanie Parton, CAE, at [email protected] to find out how you can share your story.

Day in the Life: Nicklas Talarico, CPA, CGMA

Talarico stops to talk about the photos of the board of directors that line the hall. Do it Best was founded in 1945.

This mastodon was painted in Do it Best Corp. style during an art project by Indiana University-Purdue University Fort Wayne. Above his head, you can see the Do it Best Corp principles.


Jamie L. Adair Melanie A. Baggs Zachary S. Baron Ashley M. Benton, CPA, Rowley

Bushue & Co.David M. Bowler

Grant K. Brackin, BKD, LLP Daniel Bullock Elisse M. Chapman Meng Chen Tad R. Chew Michelle Chupp Latrice N. Clark Aaron J. Conklin, CPA, Springleaf

Finance, Inc. Tiffany A. Dillon, CPA, Somerset CPAs PC

Christopher Dunn Joseph Edwards, Estep, Doctor &

Co., PC Zachary L. Enos

Lauren E. Filogamo

Leroy Flores II Matthew J. Garant Paige Gelarden Andrew A. Gingo

Lawrence R. Green Jr., BKD, LLP

Reed E. Haines Lufi Handri Utami James D. Harrison Eric M. Henson

Abigail M. Hewitt, CPA, Whitinger & Company LLC

Eric Hoefflin Matthew J. Howard, CVA, Blue & Co. LLC

Jing Huang John F. Huettner

Catherine Hurt Joshua C. Jordan Lindsey D. Keal Caitlin M. Keepes Benjamin J. Kincaid

Eric B. Knudson Brian J. Lafata Brittany A. Lange Daniel Leyes Jeffery Loff Julie Luttinen Cynthia M. Maier, CPA, KPMG,

LLP Mitchell Z. McAdams

Nicholas Mitchell, CPA Kaoru Negishi Taryn Quattrocchi

David A. Richardt, Simon Property Group

Matthew J. Robertson Lindsay A. Roberts-Stalcup, CPA,

University of Notre Dame Vivienne J. Ross Mary B. Schwambach

Justin B. Schwartz, Alerding CPA Group

Vladimir A. Shukyurov

Michelle D. Skeen William T. Snyder, Dauby O’Connor & Zaleski LLC

Terry C. Stanton Kathryn Stephens, Wheeler & Associates P.C.

Jerry Stoner Priya S. Trivedi Vicki B. Urbanik-Randall Heidi M. Wheeler, CPA, Wheeler

& Associates, P.C. Caleb J. Williams

Tyler A. Wilson Philip A. Woodbury

Those listed above without a symbol are not current INCPAS members. If you know or work with any of these successful exam candidates, contact INCPAS Senior Manager — Member Services at [email protected].

Indiana CPA

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Leadership


“If you want courses that are interactive, have unique content, and can be taken when you want to take them, then these courses are for you. There’s a variety of formats such as case studies, video interviews and group interaction. The variety keeps it interesting.”

— Tom Wadelton, CPA, CGMAEli Lilly and Company, Indianapolis


Enhancing the CPA Designation Through Diversity

Enhancing the CPA designation through

Diversity

Scholars program expands

As we begin the fourth year of the INCPAS Scholars program, we are excited to announce the expansion of the program to Fort Wayne. In 2014-15, the Society will run Scholars programs in Indianapolis, South Bend and Fort Wayne. Each program will stand alone and will expose students to the CPA profession while introducing them to CPA leaders in their own communities.

One of the reasons the Scholars program is so effective is the interactions the students have with professionals. From their men-tors to Society members and staff, they are exposed to a wide variety of professionals on a monthly basis. However, to ensure we have successful programs across the state, we’ll need the help of INCPAS members in all three cities. Remember, the Scholars program has been a profession-wide commitment to increasing diversity in the CPA profession.

There are many opportunities for inter-ested members to get involved.

Attend a Scholars EventEach program (Indianapolis, Fort Wayne and

South Bend) will have a variety of events over the course of the year giving CPAs plenty of opportuni-ties to get involved. See calendar to the right.

Serve as a Panelist at Game On: CPAs in Action

Game On: CPAs in Action requires a large num-ber of CPAs sharing their experiences with high school students. Each event will include a panel discussion featuring CPAs representing a variety of areas in the profession.

Host an Office VisitScholars frequently visit CPAs in their offices.

This is a great way to expose students to the profes-sion and allows the students to visualize themselves as CPAs working for host organizations. If you have an interesting office in or near our three target cities, we’d love to come visit!

Speak at an Alumni EventScholar alumni at Indiana University, Ball State

University, Indiana State University and IUPUI will host a variety of professional events throughout the school year, and each alumni group will need a handful of CPAs to come to campus and speak at their events.

By Ali PaulINCPAS Leadership & Outreach Manager

CALENDARSEPTEMBER: Dress & Dine to Impress

SEPTEMBER/NOVEMBER: Game On: CPAs in Action

OCTOBER: College Night

NOVEMBER: Mentor Meetings

DECEMBER: Holiday Party

JANUARY: CPA Day

FEBRUARY: Visit to Industry

MARCH: College Visit

APRIL: Classroom Presentation

MAY: CPA Celebration

JUNE: Office Visits

JUNE/JULY: Job Shadow

AUGUST: Scholars Alumni Workshop


Enhancing the CPA Designation Through Diversity

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Drop in.

DonateNot sure how you can help, but know you want to be

involved? Consider making an individual contribution to the Society’s diversity initiatives to help support the programs and these future CPAs.

If you’re interested in learning more or want to express interest in getting involved, contact Ali Paul at (317) 726-5025 or [email protected].

YAKOV’S INTERNSHIP EXPERIENCE:My experience as the intern for the Indiana CPA

Society has given me a better perspective of accounting as a profession and gave me an insight on what it takes to be a successful CPA. Some of the main things I’ve been working on since I started my internship have been processing mem-bership dues payments and closing the books for the month. I work in the accounting department with Katy Batt, who is an excellent teacher, and Jenny Norris, CPA, CGMA, who has helped me learn about the ins and outs of being a CPA. One of the programs that Katy taught me to use was Net-Forum where I process all the membership dues payments or other payments sent to INCPAS such as advertising fees or royalties. During the first couple weeks of my internship, there were multiple days where we processed over $100,000 in checks. Processing membership dues payments has shown me how committed members are to their profession and to further their knowledge to better their careers. Another thing I have been working on is testing the new courses

THANK YOU TO OUR DIVERSITY SPONSORS

Continued on Page 39...


Tools & ResourcesProfessional Development

Tools and resources you need to advance your career beyond your reporting requirements. INCPAS is the source.

Professional Development Tools & Resources

Construction Conference • November 6This biannual conference offers specialized education that is vital for CPAs working in the construction industry. You’ll get updates on construction-related issues, be able to choose from several breakout sessions and have the opportunity to network with other CPAs who face the same challenges as you.“It is nice to have a conference that addresses the construc-tion industry concerns. The fact that industry members participate in the panels brings a real-life quality to the conference.” - Previous attendee

Webinars

We’ve made it easier for you to find the webinars you want! Our online catalog now features a search option specifically for webinars. One click and you’re in.

incpas.org

Try the CPA Excellence Intro to Social Media online interactive course for FREEThe CPA Center of Excellence® online interactive courses are ideal for CPAs at any stage of their career who want a deep online learning experience with real stories and real experts. This free course is designed to give you a sample of what this new series of courses is all about. Learn more and register for the free social media course at cpacoe.com.

Free eLearning

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A&A Conference sponsored by The National Bank of Indianapolis • September 24Learn from the expert speakers at Loscalzo Associates, Ltd., as they return to report on the latest accounting and auditing information and procedures.“A good mix of public practice needs and private industry needs.” — Previous attendee

UPCOMING INCPAS CONFERENCES

VISIT INCPAS.ORG TO REGISTER!


Did You Know?

Did You Know?PROFESSION NEWS

Cross-Country CPA Makes Visit to INCPASFrank Ryan, CPA, a resident of Maryland, stopped by the Society office on his walk across America to raise awareness and funds for developmentally disabled children. The mission walk started in March in California and will ended in August in Maryland. Read more about his journey at gssmaryland.org/index.php/donate/Walk

HOOSIER ACCOUNTING STUDENTS REVERSE BRAIN DRAIN TREND

CORRECTION: Mark Lanning, CPA, CGMA, was omitted from the list of AICPA leadership positions in the spring issue of CPA IN Perspective. Lanning is a member of the AICPA Business and Industry Executive Committee.

1395

2C-8

05

The American Institute of CPAs Benevolent Fund was established in 1933 by AICPA members to assist other members through temporary periods of fi nancial diffi culty.

When our members face diffi cult circumstances that are beyond their fi nancial means, the Fund is here to help. Financial assistance grants are provided on a case-by-case basis, depending on fi nancial need and circumstances surrounding that need. Some examples of the types of assistance available are temporary living expenses and temporary medical expenses. One-time emergency grants also are available to help with natural disasters and other unexpected events.

If you need assistance, simply visit the Benevolent Fund web page onaicpa.org and follow the instructions to apply. You may also contactthe Benevolent Fund administrator via phone at 866.527.2228or email at [email protected].

If you wish to make a charitable gift to the Benevolent Fund,visit the web page on aicpa.org.

The Benevolent Fund is a 501(c)(3) organization.

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2014: 13%

2013: 14%

2012: 20%Source: 2014 INCPAS Student Survey

The percentage of students who do not plan to work in Indiana after graduation is the lowest it has ever been, dropping to 13 percent.

AICPA Releases Audit Quality Enhancement Discussion PaperIn an effort to address quality issues in financial statement audits of non-SEC registrants, the AICPA released a discussion paper that explores audit quality enhancement. Enhancing Audit: Plans and Perspectives for the U.S. CPA Profession can be accessed at community.aicpa.org/enhancing_audit_quality_initiative/m/mediagallery/599.aspx.

Proposed enhancements include revisions to standards, additional guidance and resources, changes to the current peer review program and a transformation to near real-time practice monitoring. Exposure drafts will be released as appropriate if changes are proposed to standards.

AICPA and state society members, peer reviewers, state societies, state boards and other stakeholders including regulators are encouraged to engage in productive dialogue on audit quality based on the paper. Input from stakeholders will help shape next steps. The comment period ends November 7.


Did You Know?

INCPAS NEWS

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PIUs connect you with the latest news and information in the CPA profession. INCPAS President & CEO Gary Bolinger, CAE, leads the popular presentation that quickly and concisely covers thought-provoking topics, developments and trends that will impact how you do business.

REGISTER ONLINE AT INCPAS.ORG/PIU

CPA Excellence Decision MakingThe aim of the course is to provide an overview of what decision-making skills are, how they relate to “doing business” today, how decision making happens, to raise awareness of the pitfalls of bias in decision making and to guide you toward better decision-making practice.

At the end of this course you should be able to explain what decision-making skills are, be equipped with relevant models/frameworks to improve your decision-making skills, have awareness of the importance of good decision-making skills in the modern workplace, discern the importance of understanding the domain in which the decision exists, and know the importance of understanding your decision-making style.

CPA Excellence Communication SkillsThe aim of the course is to provide an overview of what communication skills are, how they relate to “doing business” today, how communication happens, to raise awareness of the pitfalls of poor communication and guide you toward better communication practice.

At the end of this course you should be able to explain what communication skills are, be equipped with relevant models/frameworks to improve your communication skills, have awareness of the importance of good communication skills in the modern workplace, understand the importance of empathy in crafting good messages and realize the importance of non-verbal communication.

Copyright © 2014 CPA Center of Excellence, Inc. All rights reserved. • Powered by the Indiana CPA Society.







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Did You Know?

INCPAS NEWS

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Printing • Mailing Services • Publishing • Signage • Promotional Products • Marketing

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Did You Know?On February 21, 2014, members of the Indiana Board of Accountancy agreed to partner with INCPAS in the pilot testing of a set of competency-based courses with CPA licensees in Indiana. In May, the BOA issued a proclamation endorsing the pilot program and agreed to allow licensees successfully completing the course(s) to have 8 hours of CPE credit waived per course (maximum 16 CPE hours). Indiana is the first state in the nation to allow competency-based courses for CPAs. Check out the courses eligible for the waiver at cpacoe.com.

Third Year Reporting ReminderThis year marks the end of the reporting cycle — do you know how to report your CPE? The Indiana Board of Accountancy Laws and Regulations state you should report your continuing education on your renewal form attesting you have complied with the CPE requirements, if applicable. The board may verify any information submitted by the applicant, and may request the applicant to submit evidence supporting the course information. (see 872 IAC 1-3-6)* * Excerpt from in.gov/pla


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Please call Jason Wolff at Schwartz Insurance Group at 800.366.8177 or visit www.cpai.com/premierad today!

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One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. The statements, analyses and opinions expressed in this publication are those of the respective authors and may not necessarily reflect those of any third parties including the CNA companies. CNA is a registered trademark of CNA Financial Corporation. Copyright © 2014 CNA. All rights reserved. E-10486-814 IN

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Did You Know?

INCPAS NEWS

You Really Can Make a Difference By participating in the 12th annual CPA Day of Service on September 26. Join hundreds of Indiana CPAs and accounting students as they volunteer with their community and help worthwhile organizations of their choice. To volunteer call Leadership and Outreach Manager Ali Paul at 1-800-272-2054; Sign up by September 6 to be included in media coverage.

INCPAS Peer Review Administrative Over-sight Report ResultsThe Society’s peer review

oversight report was

accepted by the AICPA Peer

Review Oversight Task Force.

Oversight reports examine

and aim to enhance peer

review programs nationwide.

View the report online at

incpas.org/advocacy-

compliance/compliance/

peer-review/peer-review-

developments.


Advocating for Members

Reminder: 2014 is a Reporting Year Be aware 2014 is a reporting year for CPE requirements. All active CPAs are required to have completed 120 hours of CPE for the three-year period ending December 31, 2014. At least 20 hours must be taken in a year, 10 percent must be A&A and no more than 50 percent can be self-study. Inactive licenses are not required to have CPE but must renew to maintain their inactive status.

CPE waivers for online pilot program focused on competency-based learningA new, more flexible and personalized style of online learning has launched at cpacoe.com. The pilot stemmed from INCPAS’ 2013 White Paper, “Future of Competency: What’s Next?,” that identified the growing need for core compe-tencies in the workplace and evolving needs for professional development.

The Indiana Board of Accountancy has agreed to waive eight to 16 CPE hours for current Indiana licensees who successfully complete one or two courses of the seven courses as part of the pilot program.

IN INDIANA

Indiana Department of Revenue’s annual public hearingINCPAS Tax Resource Advisory Council members Josie Henneke, CPA, CMI, Philip Jackson, CPA, CGMA, and Dave McDaniel, CPA, and Board member, Roger Booth, CPA, CGMA, attended the IDOR hearing on June 3. TRAC Chair Dave McDaniel, CPA, spoke on behalf of INCPAS members. He addressed the need for corporate online filing and other issues, including improving online functionality, adding warehousing of tax forms, and fixing automatic notices.

Business Outreach Education program for Hoosier businessesINCPAS is partnering with IDOR to provide free business tax presentations for new and small business owners. Sessions are in Lafayette at the Holiday Inn City Centre on September 23 (11:30 a.m.-1:30 p.m.) and Fort Wayne at the Grand Wayne Center on October 9 (8-10 a.m.). See additional events and registration details at in.gov/dor/5176.htm.

Gov. Mike Pence hosts Tax Competitiveness and Simplification ConferenceNearly 200 local and national tax experts and policy makers assembled to discuss ideas for making Indiana an even more competitive business climate, including sales tax on services, corporate and local income tax. INCPAS TRAC members attending the invite-only conference included Kyle Sim-

Advocacy: from the peer review and ethics

committees to the government relations advisory

council and legislative key persons program, the

Society advocates for you and monitors the regulation

of the CPA profession in Indiana.


BOARD OF ACCOUNTANCY

BOA members, IPLA staff and INCPAS attend regional National Association of State Boards of Accountancy meetingsThe two newest Indiana Board of Accountancy members Randy Eff-ner, CPA, and Angie Zirkelbach, CPA, attended a NASBA orienta-tion on June 4.

Board of Accountancy member John Kane, CPA, CGMA, and the Indiana Professional Licensing Agency’s new board director, Han-nah Fichter, attended the NASBA conference June 4-6 in Louisville, Ky. INCPAS Vice President – Advocacy Sherrill Rude, CAE, also attended. Discussions included: issues related to Uniform Accoun-tancy Act, ethics codification, implementing Pathways Commission recommendations, standard setting, Uniform CPA Examination and future of learning.

“The conference offered a deep exploration into many issues facing the Accountancy profession today, covering topics such as continuing education, the CPA Exam and the next era of practice monitoring,” says Fichter. “The insight gained from this conference was invaluable in preparing for the future of accounting, and the Indiana Board of Accountancy was able to have several of their own board members in attendance at this conference, allowing Indiana to push ahead of the trending curve to become the ultimate standard setters in accountancy.”

“The insight gained from this conference was

invaluable in preparing for the future of ac-

counting, and the Indiana Board of Accoun-

tancy was able to have several of their own

board members in attendance at this confer-

ence, allowing Indiana to push ahead of the

trending curve to become the ultimate stan-

dard setters in accountancy.”

—Hannah Fichter, IPLA Board Director


merman, CPA, Angie Crawford, CPA, Philip Jackson, CPA, CGMA, Scott Novak, CPA, Richard Wheeler, CPA, and TRAC chair Dave McDaniel, CPA, who participated on the Individual Income Tax panel. The Society’s lobbyist, The Corydon Group, also attended.

INCPAS to coordinate informational session for State Audit Committee established by SEA 338INCPAS members with expertise in auditing are working with the Leg-islative Services Agency to provide an informational session to the five newly-appointed members of the state audit committee to help “assure the independence of the State Board of Accounts … All members of the audit committee must possess or obtain a basic understanding of governmental financial reporting and auditing.”

INDIANA CPA-PAC

PAC - Help us hit the markThe PAC is to the halfway point of its 2014 goal – $32,800 with 610 contributors and needs member assistance to hit $50,000.

Did you know? 106 INCPAS members have sup-ported the PAC with contributions of $100 or more.

Supporting the only PAC that represents CPAs in Indiana is the best thing you can do today to protect the profession. Contribute today at incpas.org/pac.

AROUND THE COUNTRY

AICPA opposes the IRS’s Voluntary Tax Certification ProgramAICPA Chairman Bill T. Balhoff, CPA, CGMA, CFF, and AICPA Presi-dent and CEO Barry Melancon, CPA, sent a letter to IRS commissioner John Koskinen expressing its concerns with the proposed program that would provide an IRS certificate upon completion. They outlined four points about the program: 1) no statute authorized it, 2) it would be viewed as way around Loving vs. IRS, 3) the IRS concluded incorrectly that it did not have to comply with the Administrative Procedure Act, and 4) it fails to address the problems presented by unethical tax preparers, goes against evidence presented to the IRS and will create market confusion.

In summary, the AICPA supports:

• Bringing all paid preparers under the federal government’s rules of conduct as set forth in Circular 230.

• Issuing a unique Preparer Tax Identification Number to paid pre-parers and having the government use that number for compliance purposes.

• Including a basic individual tax (Form 1040) examination; CPAs and “supervised employees” are exempt.

• Requiring a threshold amount of continuing education; CPAs and “supervised employees” are exempt.

• Taking steps to mitigate potential confusion among consumers of tax services.

ETHICS

Keeping up-to-date on licensing, CPE and Code of EthicsTed Zaleski, CPADauby O’Connor & Zaleski, LLC

During the last reporting period, the Indiana Board of Accountancy’s review of CPE taken by CPAs produced a number of violations and $5,000 fines. For those who improperly reported their CPE, the fine had to be paid and the CPE had to be made up before their license could be reinstated. It is important that in this last year of the reporting period, you follow the rules in the statute. To renew your license, you must have 120 total hours during the three-year reporting period, with a minimum of 20 hours each year; this includes at least 12 hours in accounting and auditing and 4 hours in ethics. Please be aware that lunch and committee meetings do not qualify for CPE; in addition CPE credit is not given for day-to-day course instruction.

If you wish to discontinue your practice of accountancy in Indiana, you can select “inactive” status on the renewal form. CPE is not required to be on inactive status. However, such individuals cannot use the des-ignation “CPA.” Choosing to be inactive does not mean you cannot be reinstated at a later time.

A sole proprietor is required to have a firm permit; without a firm permit they cannot use the designation public accountant or accounting practitioner. Having a valid CPA license is not sufficient.

On January 28, 2014, the Professional Ethics Executive Commit-tee approved the revised Code of Ethics. This is a project that has been worked on and evaluated since 2011. See the Journal of Accountancy June 2013 and February 2014 issues for additional information. The code is simplified and includes a section for members in business. The new code has been issued in an electronic format; this will make it easier to research questions. The new code is effective December 15. This should give every-one an opportunity to get familiar with the new provisions. The code is more user friendly, provides clearer explanations and no longer has pages of deleted provisions.

PUBLIC NOTICE

AdmonishmentJason L. Crace of Fishers has been admonished by INCPAS and the AICPA as a result of a decision by a hearing panel of the Joint Trial Board due to violating Code of Professional Conduct Rule 502. Admonishment was recommended by the ethics committee and was approved by the board of directors at their January 16 meeting.

TerminationJohn Carvey of Indianapolis has been terminated from membership in INCPAS and the AICPA as a result of a decision by a hearing panel of the Joint Trial Board due to violating INCPAS Bylaw 10.3(f) and AICPA Bylaw 7.4.6. Termination was recommended by the ethics committee and was approved by the board of directors at their January 16 meeting.


To renew your license, you must have 120

total hours during the three-year reporting

period, with a minimum of 20 hours each

year; this includes at least 12 hours in

accounting and auditing and 4 hours in ethics.



IDOR COMMISSIONER’S CORNER

The New Year Brings ChangeMike Alley, CPA-InactiveIndiana Department of Revenue

I’m pleased to report the DOR had a great achieve-ment recently. On June 24 we hosted the Tax Compet-itiveness and Simplification Conference at the govern-ment center with more than 40 speakers and panelists and nearly 200 attendees. The focus of the discussion was on our tax code – how we can make it simpler and more effective in attracting businesses to Indiana and generating more high-paying jobs.

We hosted many guests with significant tax policy experience who shared their thoughts, ideas and suggestions. The day-long examination of Indiana’s tax system generated discussion ranging from individual taxes to corporate taxes, from sales and use taxes to local taxes, and from tax simplification methods to making the system more competitive. Our speakers, panelists and participants ranged from Al Hubbard, who served as economics advisor in two different White House administrations, and Art Laffer, creator of the Laffer Curve in economic theory, to members of seven different national tax think tanks, five Indiana academic authorities on taxes

and economics, and members of the Indiana General Assembly, busi-ness leaders, local leaders and many others representing a wide range of interests around our state.

Numerous INCPAS members also participated and were a valuable part of our discussions. If you were not able to participate, you can still view video of the entire conference by visiting in.gov/dor/5119.htm. Click on “watch the conference” at the top of the page. We also welcome any thoughts, ideas or proposals you might want to provide. Share those at the same website.

I am also pleased to report we are on track to offer electronic filing for sub-chapter S corporate filings (IT-20S) for 2014 taxes filed in 2015. We have already issued electronic filing instructions to vendors, so let your vendor know you want this capability next year.

Our regulation review continues as we work to simplify and clarify our various regulations. This review has already led to six proposed actions, almost all repeals of various outdated regulations. Your input is welcome. Visit in.gov/dor/4676.htm to see the current status of our review.

Finally, I am making the rounds of our district offices again, and will be meeting with tax professionals with each visit. I have already enjoyed visits to Merrillville and Kokomo, and will continue through early fall. INCPAS will keep you posted on visits to your area. I enjoy these conversations with you, so join me and let me know how we are doing and update me on your challenges.

Gene Ewen, a dedicated member of the Indi-

ana CPA Society and past board president,

passed away in July at the age of 79. Ewen first

joined the Society in 1967. He served on several

INCPAS committees, was president of the Calu-

met Chapter in 1971-72, and was Society board

president from 1977-78. A strong advocate for

the profession, he continued his leadership role as

a member of the INCPAS Ad Hoc Review Com-

mittee from 1980-81, Legislative Action Com-

mittee from 1979-88 and Government Relations

Committee from 1988-1989. He also served as

an AICPA council member.

Ewen was in the U.S. Army Reserve from

1957-63 and graduated from Indiana Univer-

sity Northwest. He worked for Standard Oil

Company in Chicago as a clerk, then moved

to Newberg, Mazur, Ahlf & Borto, C.P.A.’s

in Hammond, Ind. as a staff accountant and

eventually partner. Ewen then became a man-

aging partner of Ewen & Fratterer, CPAs in

Highland, Ind.

In the community, he was a member of the Indiana

School Boards Association, National School Boards

Association, Lake Ridge School Board, Lake Area

United Way and a coach for Little League.

Ewen

In Memoriam

Eugene H. Ewen

23CPA IN Perspective SUMMER 2 014 23

BOARD OF DIRECTORSThe INCPAS Board met on June 24. Outgoing Chair Steve Eichenberger, CPA, CGMA, presided over his final meeting. Incoming board members Jen Clutter, CPA, Shannon Kane, CPA, CGMA, Erland Porter, CPA, and Bob Woods, CPA, CGMA, attended as guests.

The meeting kicked off the INCPAS 2025 project with the board, and preceded the first meetings of the three board-level task forces that will be working on the project – appropriately named the Adaptive, Dynamic and Emergent task forces. Executive committee members John Sauder, CPA, CGMA, Roger Booth, CPA, CGMA, and Bettie Caldwell, CPA, CGMA, will each chair a task force.

In October, INCPAS Leadership Cabinet and Emerging Leaders Alliance members will provide input to the three task forces to give broader perspec-tive and a wider range of feedback to the discussions on what the image of the future will be, what will impact the future, and the related threats and opportunities.

Other significant items on the agenda included approval of budgets, appointments of committees, advisory councils, and LC/ELA, a report from the AICPA spring Council meeting, and a review of the results from the spring LC/ELA meeting. Other primary items were an update on the CPA Center of Excellence and related issues such as the pilot program with the Indiana Board of Accountancy in which a waiver for up to 16 hours will be granted for the successful completion of online interactive courses. For more information on the INCPAS Board of Directors, contact Gary Bolinger, CAE [email protected].

INCPAS BOARD OF DIRECTORS NOMINATIONSThe INCPAS Leadership Succession Task Force is seeking recommendations for members to serve on the INCPAS Board of Directors. Individuals will be considered for a two-year term beginning July 1, 2015. Nominations are due by October 1, and you may nominate yourself. For more information, con-tact Leadership Succession Committee Chair Steve Beardsley, CPA, CVA, at (765) 654-8602 or [email protected], or INCPAS President & CEO Gary Bolinger, CAE, at 1-800-272-2054 or [email protected].

LEADERSHIP CABINET AND EMERGING LEADERS ALLIANCEA successful spring meeting was held on May 29-30 in French Lick. The two primary areas of focus were the launch of the CPA Center of Excellence® and the INCPAS 2025 project. The CPA Center of Excellence® sessions included demonstrations of the online interactive course modules based on the CPA profession’s critical success skills, and the new online community that was opened to members in July – the CPA Center of Excellence® Online. LC/ELA members were encouraged to populate their profile on the community.

The INCPAS 2025 project will look at opportunities and threats for the Society and the profession more than 10 years into the future. Two breakout sessions had five different groups discussing what the image

of the future is, and what will impact the future. LC was broken into early career public, late career public, early career industry and late career industry. ELA was the fifth group.

Reappointments and new appointments for both groups were made at the June Board meeting. The fall meeting will be held October 30-31 at the Marriott North in Indianapolis. The highlight of the meeting will be a presentation titled “Beyond 2020 – Shaping Our Future” by renowned futurist Glen Hiemstra. Hiemstra, based in Seattle, is the founder and owner of futurist.com For more information on LC/ELA, contact Sherrill Rude, CAE [email protected].

DIVERSITY ADVISORY COUNCILDAC met on June 19 and had a conference call in July. Sherry Davis was recently selected as the new chair. DAC members reviewed applica-tions and selected new INCPAS Scholars for the 2014-15 school year. Forty-one applications were received, including 30 from the Indianapolis area, eight from South Bend and three from Fort Wayne. Students are selected for the program based on high potential, including personal skills and a letter of recommendation. They are not selected based on grade point average.

The first Scholars Alumni Workshop was held on August 7 at the Indiana Historical Society in downtown Indianapolis. Academic gifts in the amount of $500 were presented to the 2013-14 Scholars program graduates. Welcome dinners for the 2014-15 Scholars program participants were held on August 18 in South Bend and August 27 in Indianapolis. For more infor-mation on the INCPAS Diversity Advisory Council and the Diversity Programs Project Team, contact Ali Paul [email protected].

GOVERNMENT RELATIONS ADVISORY COUNCILGRAC meets in September to discuss and set the Society’s legisla-tive agenda for the upcoming 2015 session of the Indiana General Assembly. Organization day for legislators is November 18 following elections on November 4. For this long session the General Assembly must end by April 29, 2015. Additionally, GRAC is working with the Indiana Board of Accountancy encouraging them to use emergency rule to adopt the new code of ethics in time for the effective date of December 15, 2014.

TAX RESOURCE ADVISORY COUNCILTRAC members meet in September with Indiana Department of Reve-nue representatives and again before tax season in November, when they also will meet with the IRS. Working groups also will meet with Indiana Department of Workforce Development and IDOR in early fall.

INDIANA CPA-PACPAC Trustees met in June to discuss and approve a second round of contributions to state-wide campaigns. Following their strategic plan with a goal of contributing $45,000-50,000 before the elections, trustees meet in September to make PAC’s final round of contributions before the election. Thanks to member support, the Indiana CPA-PAC has contributed $32,800 year to date to campaigns.

Upholding Integrity

ROI: Access to the resources that are important for you

as a professional to uphold the integrity of the profession.

Upholding Integrity


Many people think of networking as either schmoozing or a purely social activity. In reality, a strong professional network is a very important resource for an up and coming CPA. A strong network is diverse and includes clients/customers, peers, senior professionals, business partners, and vendors. A strong network helps to build us as professionals and helps to provide better solutions to the organizations we serve.

As our world continues to become com-plex, we want our professional network to be as diverse as possible. We need more varied perspectives and knowledge to make better decisions. Just imagine if everyone you had in your network were just like you!

I know from practical experience that a strong network is especially important to CPAs. In the CPA Horizons 2025 project, under Inte-gration and Collaboration, the AICPA describes a network like this: “CPAs are effective at build-ing strategic alliances and working collaboratively to provide multidisci-plinary solutions to complex problems.”

Building strategic alliances is one of the key outcomes of good pro-fessional networking. You need to have a strong, trustworthy network to build strategic alliances. It is then through these strategic alliances that CPAs can work collaboratively with other professionals to address com-plex problems and bring true multidisciplinary solutions to the table.

A recent example of this is a project I am working on for one of my cli-ents, a family-owned business that publishes information as a cloud-based service. I am providing business strategy and organizational development advice to help this client take their business to the “next level” of maturity, enabling growth and increased profitability. Currently, their processes are half-manual and half-automated and their departments operate in silos. To help this client, I am coordinating a team that consists of:

• a technical manager focused on their technology and product development,

• a business analyst focused on business process redesign and system selection,

• a certified internal auditor looking at the financial, compliance, and operational risks and controls,

• an organizational change consultant who is developing the change management plan,

• an organizational psychologist helping measure trust and team-work, and

• a certified project manager who will keep track of the timeline, resources and issues.

Add to this my own role of helping to manage the risk of the project portfolio and ensure the overall quality of the end results. These other professionals all have different expertise, and it is my job as the CPA, CITP, on the team to bring all of their skillsets together to ensure the success of the project for the client. How did I find people to take these positions? These professionals were all people I met or were intro-duced to through my professional networks!

From a more personal perspective, a strong professional network is also important for our own professional development. We may have coaches within our organizations, but those people are usually focused on ensuring our own roles within the organization meet a certain set of goals — and, actually, these coaches tend to be biased to our work environment. By having a mentor who is external to our workplace, and maybe also from another discipline, we can often get a different perspective on how we are progressing in our overall professional life — rather than just our career with a given organization.

I see the value of this aspect of networking every time I attend an AICPA or state CPA society function. I’m able to share my experi-ences with colleagues from different geographical areas and different expertise areas, bounce ideas off of them, and sometimes commiserate, too. But, the real value is that I’m able to get ideas of what worked, or didn’t work, in their organizations, for their clients, or for some-one else from their professional network. This all helps me to either validate the decision I’m making, or at least give me some additional information to consider as I analyze my options.

Next time you’re attending a conference, seminar, or happy hour, enjoy the company and camaraderie, but also look for opportunities to strengthen your professional network — and your effectiveness.

Networking

By Donny C. Shimamoto, CPA, CGMA, CITPIntrapriseTechKnowlogies LLC

A STRONG PROFESSIONAL NETWORK IS AN INVALUABLE RESOURCE

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Proofreader Copy Writer Art Director Creative Director Exec. Creative Dir. Prod. Manager Account Other

What do you see?A partner who works

as hard as you do.

BMO Harris Bank N.A. Member FDIC

As a CPA, you have a vision for your client’s success. BMO Harris Commercial Bank

can help turn that vision into reality by offering experience, expertise and resources,

including access to capital and treasury and payment solutions. If you can see it, we

can help make it happen.

bmoharris.com/vision

Contact

Mark Kugar | Business Banking Group Manager | 317.269.1207 | [email protected]

T:9”T:10.8125”

B:9.25”B:11.0625”


Couples’ Therapy

By Jennifer Briggs, CAE

CPA Couples’ Therapy

At the risk of becoming the 40ish, female version of Andy Rooney in the CPA world (young people, Google him), I have a few thoughts I’d like to share with our members.

I am in the somewhat unique position of meeting regularly with the most experienced members of the CPA profession in Indiana and with the newest CPAs making their way through their first jobs. I hear from both sides what’s “wrong” with public accounting firms of all sizes, what’s “wrong” with young people, what’s “wrong” with partners, what’s “wrong” with corporate finance departments … you get the picture.

As someone who has worked with CPAs for more than a dozen years and who is right in the middle of all of this, I feel I’m able to observe the serious disconnect between our mid- to late career members and our younger members and it’s kind of baffling. The disconnect isn’t in end results – you guys often want the same things. The disconnect is that you’re just not talking to each other enough. Since wide-scale couples’ therapy for bosses and staff accountants isn’t likely to happen, let me offer a few observations that you can take or leave, but could make your unions stronger.

I say all of this with great respect.

INCPAS Senior Vice President

...for bosses and staff accountants

Make your union stronger with these observations

27CPA IN Perspective SUMMER 2 014 27

CPA Couples’ Therapy

DEAR YOUNG PEOPLE:THINK about what you want your life to look like and then try to

build it. You can have it all, but maybe not all at the same time and not in exactly the way you thought you’d get it. So, think hard about what you want and why you want it. Be willing to want something different than the people around you. Ask your boss sometime about the early days of his or her career or about what they hope to do in the future. Yes, they still think about their futures. Bosses are people too and they are probably willing to share some important tidbits about being successful in a one-on-one conversation if you are interested.

ASK for what you want. Don’t demand it. Don’t expect it. But, think about it and ask for it and see what happens. If nothing happens, follow up. Don’t gripe, don’t talk to your friends about it – follow up with the people you asked. Maybe they forgot. Seriously. Even if it was of paramount importance to you, it’s possible it wasn’t top of mind for the person you asked and they just need a reminder. And what if you don’t know what you want? Then ask someone you admire what they wanted when they were your age or what they’d do differently and go from there. Asking for what you want is so much better than thinking “Hey, I do a good job and someone will notice.” They might not actually. And not on purpose. Everyone is just busy – so be patient, but also be persistent and don’t move on to the next job if you don’t immediately get the answer you want. Follow up.

TAKE on more responsibility. If you want something to change or if you want the right to complain about the way things are you need to take on more, possibly even before you think you’re ready. You’ve all heard of the 80/20 rule? 20 percent of the people do 80 percent of the work. This can make that 20 percent cranky. Take on more responsibility – take the weight off of someone else and you’ll be surprised how much more willing they are to listen to your ideas, bring you into meetings or give you more challenging work. Also, ask a lot of questions with an open mind; if you are not willing to learn more and try to understand how the situation came to be the way it is before you try to change it then people are less likely to listen to you. Take on responsibility in small ways first and then ask for additional responsibilities. And even if you think it’s annoying, touch base and follow back around with the person you took the responsibility from – let them know how it went. It’s hard for people to give things up so keep them in the loop a little so they won’t freak out so much that you’re not going to do it as well as they did.

BE motivated, but also be patient. The grass is not always greener! I’d love to come up with my own unique phrase here, but this one just fits too well. A lot of the “issues” you’ll have in your first job or two will follow you wherever you go because it’s not about the job you’re in sometimes, it’s about you. I know. That’s harsh. But it might be true. If you’re 100 percent sure it’s not you, it’s them, then find a new job. Do it. But, do everything you can to be clear about what’s not working in your current situation in a respectful, but very honest, way before you make any big decisions about change.

DON’T BE afraid to want something and to go for it even if it isn’t readily apparent that it is achieveable.

DEAR EXPERIENCED PEOPLE (THAT’S RIGHT, I DID NOT CALL YOU OLD):

THINK about how your career has gone and what you wish had been different. Even if you think no one cares, maybe share some advice about what you’ve learned with someone just starting out. Also, think about what you want the rest of your career to be like and incorporate some younger staff into your plans – what can you pass on to someone else so you can continue to grow and learn in other areas? Remember, it’s never too late to change your path a little. And think about what you wish you’d known when you were young. I hate hearing that people are “born with leadership skills” or “born to be a communicator” – there are those who are naturally talented in soft skills areas, but there are also people eager to learn and to be better in these areas; don’t leave that talent on the table. Think about how you can help a younger person build skills in these areas or what you wish someone had told you.

ASK young people to give you time to think. Sometimes younger professionals ask for something and you feel like you’re supposed to have the answer right away, but you don’t have to. Also, sometimes what the young people ask for, well, it’s annoying. Really. The first time you hear it you think “Are you kidding me?!” or “I would have NEVER asked for that.” But give yourself a day or two to consider a request and maybe you’ll find you wish you’d made the same request and how much better your life or career would have been if you’d asked for whatever it is the young person is suggesting. Those of us with more experience can learn (and gain value) from the audacity insights of the younger professionals we work with daily.

TAKE on less responsibility. That’s right, I said less. You know so much and you’ve earned your place of distinction within your organization, but giving up a little to a younger staff person helps them gain valuable experience and gives you a chance to try something new yourself and continue to build your own skills. Warning: the younger people won’t do it the way you did. But they also might not ruin it. Take on less responsibility by bringing a younger staff person to more of your meetings. Young people need to see more often what your days are like as they try to determine what they want for their futures. Without those experiences young people can only imagine what your job is about. It’s hard to strive for something you don’t understand – help them see what their options are so they want to be there to take over when you are ready to retire or do something different. Be very specific. The young people are not good mind-readers.

BE patient and be motivated to teach others while continuing to learn yourself. Be motivated to help educate the younger folks you work with, but try to remember what it was like to not know as much about the real world as you do now. I mean that in a nice way, but we all know that a 20-something and a 50-something aren’t on the same page in life or their careers and you can’t expect them to fully understand one another. Be patient and ask a lot of questions of each other and more importantly, be willing to listen to the answers you get. Also, explain what your work means to you and what keeps you motivated. And another important note: don’t assume. Don’t assume you know what young people want, are capable of or what motivates them. You aren’t good mind-readers either.

DON’T BE afraid to let the young people in. You were just like them once. I know you don’t believe it, but you were.

I hear from both sides what’s “wrong” with public accounting firms of all sizes, what’s “wrong” with young people, what’s “wrong” with partners, what’s “wrong” with corporate finance departments … you get the picture.

Ask for what you want. Don’t demand it. Don’t expect it. But, think about it and ask for it and see what happens. If nothing happens, follow up. Don’t gripe, don’t talk to your friends about it – follow up with the people you asked.


INCPAS 2025

INCPAS 2025

By Dave ShatkowskiINCPAS Vice President — Communications

Looking Toward the FutureThe Indiana CPA Society will celebrate its 100 year anniversary in 2015. So you must assume next year will be all about the past, right? Well, sort of. But it will also be as much about the future. Of course, it is unlikely you’ll have a bright future without having a successful past. INCPAS has both, and that’s exactly what we’ll be celebrating.

The INCPAS 2025 project, which kicked off in June, is a vision of what the Society and the profession will look like 10 to 11 years from now. Much future-oriented work has been done over the past several years, both at INCPAS and throughout the profession nationally. Three board level task forces will synthesize that work and consider images of the future and factors that will impact the future, then identify a series of opportunities and threats.

INCPAS 2025


INCPAS 2025

INCPAS 2025

Eventually the three groups will consolidate all of their findings into an aspirational scenario plan, which will be unveiled next May at the spring INCPAS Leadership Cabinet and Emerging Leaders Alliance meeting and align with the 100-year celebration. It will include ways in which INCPAS might respond to the opportunities and threats, descriptions of how we’d want members and others to look at us in 2025, and recommendations for programs, services and activities that will add value in 2025.

The future is bright but not without its challenges. The CPA profession and the business environment around it has been changing at a never-before-seen rate in recent years. And there’s no reason to think it won’t continue to change. The goal of INCPAS 2025 is to mold that future and prepare the Society in the best way possible to be as relevant to members and responsive to member needs as it has been in the past and still is today. We have a long track record of achievement that we can continue to build on.

The three task forces are appropriately named – Dynamic, Agile and Emergent. Those are three characteristics that the Society should possess in order to take advantage of future opportunities and address future threats. The Dynamic Task Force is chaired by Vice Chair John Sauder, CPA. The Agile Task Force is chaired by Vice Chair Roger Booth, CPA. And the Emergent Task Force is chaired by Vice Chair Bettie Caldwell, CPA.

Prior board task forces have been responsible for much of the “future” work over the past four years. First, there was development of a value proposition, SWOT (strengths, weaknesses, opportunities and threats), risk assessment and scenario plan. A couple years later, the three task forces studied three future issues, the future of competency, hyperspecialization, and integrated reporting. All three resulted in white papers that received attention from national accounting media, and are still available on incpas.org.

And of course, the Knowledge Management Task Force in 2010 set the groundwork for what four years later has become the CPA Center of Excellence® (cpacoe.com). Originally envisioned as a

knowledge management system, the CPA Center of Excellence® now encompasses not only the knowledge sharing piece of intelligent collaboration, but also competency assessment and competency enhancement as part of its competency-based approach. As it stands today, the CPA Center or Excellence® is a big part of the future. There is no telling how big it will be by 2025.

In addition to INCPAS, the AICPA released its CPA Horizons 2025 report in 2011. The Institute of Management Accountants came out with its 100 Drivers of Change for the Global Accountancy Profession in 2012. And, the AICPA and the American Accounting Association joined forces to produce the Pathways Commission Report on the future of higher education for the accounting profession also in 2012. These reports will all serve as background and reference as the INCPAS 2025 project takes shape.

There have been many articles in the general media and professional journals on related topics such as globalization, diversity, generational issues, succession planning, technology, complexity and many more. Those too will provide additional support for the work of the task forces. As will the feedback from the members of leadership cabinet and emerging leaders alliance that used two breakout sessions at the spring meeting to brainstorm images and impacts.

INCPAS 2025 is the culmination of more than four years of task force work, white papers, reports and other studies. While the impetus and the timing for INCPAS 2025 is the Society’s centennial anniversary. What better way to recognize and reflect on the Society’s first 100 years than by looking ahead at the first decade of the next 100 years. You can’t change the past — and in our case we wouldn’t want to — but we can help create our future.

“The best way to predict the future is to create it”-Peter Drucker

INCPAS 2025


A Different Option

Q: What is the INCPAS Health Insurance Program?A: The INCPAS Health Insurance Program is a large group association medical plan through Anthem Blue Cross Blue Shield that offers four major medical plans, three PPO plans and one Health Savings Account plan.

Q: Who is a good candidate for the program?A: As the plans aren’t subject to modified community rating, any member firm/individual who has been impacted by community rating is a good candidate. All participants entering into the program are underwritten according to their individual health risk.

Q: Is being in a large group association plan better than being in a small firm/individual plan?A: The INCPAS Health Insurance Program offers the full Anthem network, as opposed to narrow hospital/physician networks offered by many insurance plans and the program has enjoyed consistent and reasonable renewals.

Q: Does it matter if I join as a firm or as an individual?A: Both individuals and firms are able to participate in the program; the only difference being the application paperwork.

Q: How does one obtain pricing or enroll into the program?A: To receive a quote or enroll into the program all participants must complete a shortened Anthem application with five medical questions. To receive this application please contact Andrew Frandsen at Shepherd Insurance.

All prospective participants can reach out to Andrew Frandsen at Shepherd Insurance for more information or with questions: [email protected] or (317) 819-4206. For members who are currently enrolled in the INCPAS Health Insurance Program contact Cheryl Pennington at Shepherd Insurance with any questions: [email protected] or (317) 573-3028.

A Different Option The INCPAS Health Insurance Program

With uncertainty and disruption in today’s health insurance industry, we

would like to remind and outline why the Indiana CPA Society Health

Insurance Program is an option for a majority of members (individuals/

firms) across the state. Individuals and firms in the under 50 employee

marketplace will soon see a change in the way their coverage is priced.

For renewals after January 1, 2014 health insurance companies are no

longer able to base premiums on gender, health status, medical condition,

medical history, small employer size, occupation or industry. This

restriction on rating, called modified community rating, has the potential to

create significant disruption to firms in the small group marketplace. This

coming renewal season all members can look toward the INCPAS Health

Insurance Program for help. Listed below is a short Q&A for those who

might know little about the INCPAS Health Insurance Program.


CPA Center of Excellence®







INCPAS members share how the CPA Center of Excellence® is making them better CPAs

Learn.Engage.Advance.

cpacoe.com



Learn More at cpacoe.com

The CPA Center of Excellence® is a suite of programs, services and resources designed to enable CPAs to respond to complexity in providing professional ser-vices to clients or employers. With a foundation built on strengthening the CPA profession’s vital skills and encouraging intelligent collaboration, the CPA Center of Excellence® is an easy way to be a better CPA.

“With the competency-based courses you have to

actively be involved in the course. That’s why it will

truly enhance your competency and professional

development. It forced me to identify my blind spots, my

weaknesses and knowledge gaps. At each turn I wanted

to keep working on the course. What can I learn next? To

me it was one of the most enjoyable experiences

that I’ve had in an online type environment.”— Kent Williams, CPA, CGMA Indiana Wesleyan University, Marion

“As a CPA who is relatively young in the profession, I love that I can watch a

clip and immediately read what other CPAs thought about the subject matter.

It helps me see things through a different lens. The collaboration of the

course is unlike any CPE course I’ve ever been a part of. The format makes it

fun, easy, and frankly, provides a wider variety of information and different

perspectives than a typical CPE course. I was able to do CPE at my own pace,

at my own time, and on multiple devices.”— Caleb Bullock, CPA Somerset CPAs, PC, Indianapolis

CPA Excellence Online Interactive CoursesEach online course features real stories with local experts in a game-like environment. Take it whenever, wherever and on whatever device you want.




“The first thing I thought when the Society talked about

the online community was ‘what’s the point and value for

me?’ Personally, it’s been a case of connecting with other

professionals. People you know, people you want to get to

know. I think as things go on this is going to be the new

foundation for how things are done.”— Philip Jackson, CPA, CGMA VonLehman CPA & Advisory Firm, Indianapolis

“My expectations before taking this course were that

it’d be very similar to other courses I’ve taken. You’d

walk in, there’d be an instructor, with PowerPoint,

you sit... Turns out it’s very different. It’s a very

hands-on, interactive course. I’m taking much more

away from it in terms of strategic decision making

and the ability to act much faster than I normally

would in business.”— Mya Wienbrenner, CPA Jarden Home Brands, Daleville

CPA Center of Excellence® OnlineA place to connect, engage and share information and best practices in real time.


“There’s been some great postings on the open forum

... on Indiana Department of Revenue notices and

questions on sales and use tax. It’s a great avenue to

share ideas and pass on experiences to other members.

Give it a chance. Take a look. Go for it.”— Jake Dunton, CPA, CFE, CGMA Dunton & Co., Indianapolis

CPA Excellence Live Simulation EventNot your traditional classroom method, these courses will stretch your abilities with simulation exercises. Choose your focus — communication skills, critical thinking or leadership.



“We wanted to measure each of our staff, team members

and partners on their strengths and weaknesses. We took

the assessment and uncovered a number of flaws and

strengths. We’ve used the assessment to work toward

bettering ourselves, working better as a team and as a result

we have seen wonderful progress in our firm as a whole.

We are growing clients, client satisfaction and increasing

the touches to those clients.”— Ben Smith, CPA, CGMA, CITP

Estep, Doctor & Co, PC, Muncie


The book identifies the CPA core

competencies and gives you a

step-by-step plan to apply them to

yourself and your staff. It’s a quick

read and a great reference guide.”— Lorita Bill, CPA, CGMA Girardot, Strauch & Co, Lafayette

CPA Excellence A Quick Start Guide to Defining and Mastering Vital Skills for Success A step-by-step guide to measuring and developing your core skills.


CPA Core Competency Assessment Services Transform your human resource processes — everything from recruiting to succession planning for retiring partners.


WATCH: Want to know more? Watch a video about the CPA Center of Excellence® offerings at youtube.com/incpas


START

Job DesignStrategy


1 2

3

Succession Planning

8


6

ExitInterviews

9

Induction

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5


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Book Excerpt

CPAExcellence

A Quick Start Guide to Defining and Mastering Vital Skills for Success

By David Griffiths, Ph.D.

START

The new publication from the CPA Center of Excellence®, CPA Excellence A Quick Start Guide to Defining and Mastering Vital Skills for Success, is a must-have resource for all CPAs. This valuable book takes both individual CPAs and CPA firms on a step-by-step process for mastering the critical success skills that CPAs need to possess to advance their careers. The human resource pathway, which includes strategy, job design, recruitment and selection, induction, feedback, recognition, professional development and succession planning provides the context for utilizing all of the CPA critical success skills. The following excerpt (Chapter 3) illustrates the pathway and addresses the first two steps.

The book opens by describing the evolution of the CPA core competencies and the work on developing the core competency descriptors, which are included as appendices in the book. Chapter 2 goes on to cover the following:

• Defining competence and competency

• Understanding the competency-based approach

• Explaining the core competency framework

• How to measure core competencies against business goals

• Developing a competency profileChapter 4 continues into the next

steps for assessing and developing critical success skills (competencies). Finally, the core competency descriptors define each competency, identify why it is important, list positive signs and warning signs, and offer five different advancing levels that clearly describe how to move from the first level all the way through the fifth level.

CPA Excellence A Quick Start Guide to Defining and Mastering Vital Skills for Success is a tool for every CPA. It is available only from the CPA Center of Excellence®.

New Quick Start Guide is Your Key to Career Success



A Quick Start Guide to Defining and Mastering Vital Skills for Success 31

Chapter 3

Chapter 3: Quick Start Processes for the Human Resource PathwayThe CPA core competencies are designed to be deployed across the HR Pathway within a firm. In other words, it is possible to take the core competencies and use them in all of your HR activities. This chapter will set out the context for the competencies, as well as examples for their use. The HR Pathway comprises the following elements: strategy, job design, recruitment and selection, induction, performance feedback (appraisal), reward and recognition, ongoing professional development, succession planning and exit interviews.

1. Strategy:The starting point for any HR policy, process or system should be to

synthesize the needs of the people within the firm with the firm’s purpose and agreed strategy. The HR processes in this chapter, steps two through nine, can then be used to bind together the needs of the firm (designing, developing and delivering products/services that clients find desirable) and the needs of the individual employee. Think of this as aligning values to optimize the potential for success.

For CPAs, it is strongly argued that knowledge is the primary competi-tive resource. Knowledge is essential to the firm if it is to deliver desirable products and services. It is critical to business growth. Often technical knowledge (e.g. international taxation) is less scarce in the CPA profes-

START

Job DesignStrategy


1 2

3

Succession Planning

8


6

ExitInterviews

9

Induction

4



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Book Excerpt



32 CPA Excellence

Chapter 3

sion (i.e. it is easier to acquire) than the functional knowledge (e.g. critical thinking skills) associated with the CPA core competencies. However, in today’s business environment, competency-based knowledge and skills are considered more attractive within the CPA profession. It is also true that today’s business marketplace, is more connected, interdependent, ambiguous and changing faster than at any other time in history. This environment of change has a direct influence on both CPA firms and their clients (think employment contracts through to international compe-tition.) This means that client needs are constantly evolving. Therefore, the products and/or services provided by a firm also will have to evolve in order for the market to continue to find them desirable. Therefore, a firm’s HR department must be able to detect and respond to this constant change. (See further commentary on page 47).

If you complete the checklist in Chapter 2, Section 9 (page 22) and you struggle to relate any of the CPA core competencies to your business goals, you should seek advice on your firm’s strategic development. Otherwise your firm may be in critical danger of strategic “drift,” which occurs when the direction of the firm moves away from the needs of the environment. In other words, your products and/or services will likely become less and less desirable within the marketplace.

Once you have aligned your strategy and ensured that your staff members cultivate skills in the core competencies, you will be able to more effectively deliver desired products and services to your clients. This will help you maintain a desirable position in the market, as you shift your HR policies, processes and systems efficiently to meet present and future goals.

2. Job Design:How do you know you have the best person for the task or role at

hand? A well-informed job design process is important, in order for the firm to represent accurately the scope and/or scale of a given task or role. This allows the firm to ensure that it is employing the best available person for the role and vice versa. It also strengthens the psychological contract between the employee and the firm, as the scope and scale of the role more readily aligns with personal expectations and capabilities, thus optimizing the opportunity for personal satisfaction and success.

KEY POINT: CPA CORE

COMPETENCIES HELP FIRMS TO ACHIEVE THEIR

PURPOSE, WHICH ENSURES MORE

EFFICIENT DESIGN, DEVELOPMENT AND DELIVERY OF DESIRABLE

PRODUCTS AND/OR SERVICES.

Book Excerpt


A Quick Start Guide to Defining and Mastering Vital Skills for Success 33

Chapter 3

Any errors in design may echo adversely throughout the HR Pathway. This may cause concerns or problems for your employees, your clients and your firm. To optimize the job design process the management team needs to consider core questions, such as:

• How does the role reflect the firm’s need to design, develop and deliver desirable products and services?

• What level of expectation is associated with the role (e.g. staff accountant; senior accountant; manager; director; partner; managing partner)?

• What tasks are involved within the role and do they contribute to a coherent whole? Do the tasks have clear objectives? Do the tasks utilize and stretch the knowledge, skills and experience of the role holder? Do these aspects come together to develop an intrinsically meaningful experience for the role holder?

• Is there adequate variation in the role to continually challenge the role holder?

• Is there a requirement to provide feedback to others within the firm? How will the role holder receive this feedback?

• What support mechanisms are available to the role holder?

• Does the role holder have enough autonomy to determine appropri-ate methods or tools to be used in the performance of the role?

• Is the role holder provided the opportunity to solve problems, thereby contributing to ongoing learning and development?

• How does each role interact with the roles of others in the firm (e.g. vertical and horizontal integration)?

• What does the working environment look like? Have appropriate health and safety measures been considered?

The table on page 35 shows you how you can use these questions listed above to consider the importance of CPA core competen-cies within any given role. Using this table you first list the various role-based tasks along the top row and rate the importance of the


Book Excerpt

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CPAExcellence

A Quick Start Guide to Defining and Mastering Vital Skills for Success

By David Griffiths, Ph.D.

START


for the CPA Center of Excellence®, which I find very intriguing and I’m excited to be a part of it. My favorite part of the internship, believe it or not, has been sitting in on some of the meetings with Jenny and Gary Bolinger, CAE. I think it’s pretty interesting when I can use the knowledge from my accounting classes to better understand the financial statements or the budgets I look at during the meetings. There have been a lot of really cool people I’ve met during my time at INCPAS. I met Bob Woods, CPA, when I sat in on a board of directors meeting. Bob gave me excellent advice about sticking to what I was doing and to inter-act with as many people as I could to build a bigger network. Everything I’ve learned in my internship has been extremely beneficial for me as a student, but more for me as a young professional. My goal after I went through the INCPAS Scholars program was to become a CPA and so far during my experience as an intern, there’s nothing else that I want to do.

— Yakov Adelfinskiy

Elizabeth A. Watler, Indiana State University

Brady G. Webster, Indiana University

Gregory A. Werner, Indiana University South Bend

Matthew S. Wible, Purdue University

Shelley R. Wiesenberg, IUPUI

James A. Wilborn, Indiana University Northwest

Debra Wilcox, IUPUI

Wayne T. Williams, University of Illinois

Elizabeth L. Wilson, Butler University

Candice M. Wright, Franklin College

Suitao Yang, IUPUI

Xiao Yi, Indiana University

Jong Man Yun, IUPUI

Yan Zhu, Indiana University South Bend

Christopher C. Ziebell, DeVry University

Elizabeth A. Ziegler, IUPUI

Want your name on the list? Become a member of the Indiana CPA Society. Visit incpas.org/join.

Read it Online

Read it Online

For the complete articles, visit the digital edition of CPA INPerspective online at incpas.org/digitaledition

Succession — Cover These Bases for Every Retiring PartnerBy Gary Adamson, CPA

Every firm is working through the succession maze and dealing with the exit of key partners in the firm. It is the Baby Boomer Bubble up close and personal, which I have written about and which every firm that I work with is dealing with. Unfortunately some firms are in the “march to the cliff” having no plan and in many cases having waited too long to do anything about it.

This article is directed at those of you, and I hope the majority, who do have enough time to deal with it and the determination and focus to do so. Every partner leaves holes in the firm that we have to fill. We need to recognize that our plans to fill them will be different depending on the role that the individual partner plays in the firm. With that said, there are four areas you must cover for every partner...

Collaboration — Buzzword or Reality?By Sue Thiemann

Leaders want to get people to think as one company. But managers or other leaders in different functions or different business units may seem surprisingly reluctant to work together. Jealousies, misunderstandings and enmity may seem more common than collaboration. Many people confuse collaboration with teamwork. You know the attitude of team against team philosophy (the ol’ tug-of-war idea) when leadership really wants to encourage team with team thinking.

Collaboration can be within a firm or within a profession. In this article, I would like to address collaboration within a firm. What does collaboration really look like? This is clearly outlined in the book “The Journey Ahead” by Sandra Wiley, COO and shareholder at Boomer Consulting, Inc. Sandra outlines the journey a fictitious firm takes in moving toward a collaborative firm environment. I do want to take this moment to state collaboration within a firm is not the sole focus of Sandra’s book...

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100 Years and Counting

100 YEARS OF PROFESSIONALISM

ATTRACTING THE NATION’S CPA LEADERS TO INDIANABy Todd GouldINCPAS Historian

Sports fans most likely recall Indiana’s successful bid to host the 2012 Super Bowl. The Indianapolis Colts and the City of Indianapolis, among many other city and state leaders, campaigned for many months. Eight decades earlier, the state’s leading CPAs lobbied just as diligently – and suc-cessfully – to land the nation’s biggest CPA convention.

By the late 1920s, a growing membership base and strong leadership at the Indiana Association of Certified Public Accountants began to attract the attention of national leaders and the American Society of Certified Public Accountants. In 1927, Horatio Roney, a founding member of the IACPA, suggested Indiana host the 1928 national convention. The IACPA had just hosted a regional conference in 1927 that attracted CPAs from six states. Emboldened by this success, Roney and others felt confident that Indi-ana was prepared.

Bids had already been received from several other cities to host conventions through 1929, but Indiana attracted the attention of the ASCPA as a future host. In 1930, Evans-ville CPA Earl Thomas traveled to the national convention in Denver to make an “earnest, face-to-face pitch” to national leaders. Thomas made significant headway in promoting the virtues of Indianapolis, but Indiana eventually lost out to Tennessee.

On July 24, 1931, the IACPA received a letter from national association secretary D.W. Springer, suggesting that he take the lead on promoting a national convention in Indiana by travelling to several cities

throughout the state, including Evansville, Indianapolis, Fort Wayne, South Bend, Gary and Hammond. Instead of such an arduous speaking tour, IACPA board member William Madden suggested that Indiana form a group (dubbed the “American Society Convention Committee”) to travel to Memphis in the fall of 1931 to make a presentation.

From October 5-8, 1931, an Indiana delegation of current president James Olive, upcoming president Harry Boggs, Earl Thomas, current

secretary Roney and Marshall G. Knox, chairman of the Indiana Meetings and Entertainment Committee, made a pitch once again for Indiana to host the national convention. Their unofficial campaign slogan was “Indianapolis in ’32 or Never!” Competition included Washington, D.C., California and Wisconsin.

On November 7, the ASCPA made its announce-ment: “Indiana, after certain maneuverings, trades, etc., won out and obtained the 1932 Convention to be held in Indianapolis, Indiana. We also will award to Indiana one of the state society awards for a paper submitted by the group, ‘What the Association Has Done or Is Doing of Value to the Profession.’” State leader Earl Thomas was asked to serve on a panel, “The Part Which State Societ-ies Should Play in the Development of the Profession,” at the convention.

On September 29, 1932, the IACPA welcomed more than 1,400 CPA leaders from 46 states, and even the

newest regional society of Hawaii. All gathered at the Claypool Hotel in downtown Indianapolis for three days of meetings, panel discussions and activities, including a tour of the Indianapolis Motor Speedway. ASCPA leader Homer A. Dunn from New York wrote to former Indiana Soci-ety president Frederick Willett that he was “immensely impressed with the Hoosier delegation.” National leaders reported that the event was “a resounding success.” It was the only time Indiana ever hosted the national convention.

The Indiana CPA Society is preparing to celebrate a momentous occasion in 2015 … the centennial anniversary of the organization (and the profession it represents). Look to this page

in the next several issues for anniversary-related tidbits and anecdotes.

Their unofficial campaign slogan was “Indianapolis in ’32 or Never!”

Save the DateThe 100-year anni-

versary will be officially celebrated as a special CPA Celebration on May 15, 2015. Mark your calendar early and plan to join us for this historic occasion.It will be held at the Indiana Roof Ballroom in downtown Indianapolis. It will include special speakers, video and other surprises.

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CPA IN Perspective Summer 2014