Peninsula/Silicon Valley Chapter
A blog for and by a community of professionals
Archive for the ‘President’s Message’ Category
August 27th, 2010
By Laura C. Olson, CPA
I walked away from CalCPA Council—a little dizzy from riding Space Mountain at Disneyland—but with a sense of belonging to a profession, rather than just having a job. As CPAs, we have a responsibility to our clients, our firms, employees and employers, as well as to our profession. It is amazing what CalCPA does for us as a profession.
Read the rest of this entry »
View Comments | Link/Bookmark/Share
June 29th, 2010
By Laura C. Olson, CPA
Hey, fellow members, there are many things happening that impact us as we head into the summer and enjoy some of our nicest weather of the year. From the golf course to disclosure issues to use tax rules, there are some key items to look at that affect our clients and us.
Read the rest of this entry »
View Comments | Link/Bookmark/Share
June 2nd, 2010
By Laura C. Olson, CPA
Our chapter will team up with the Silicon Valley San Jose Chapter and the Santa Clara County Estate Planning Council June 8 to present our Ninth Annual Estate Planning Symposium. I look forward to learning how to deal with uncertainty over the estate tax. Please join me at this event.
Read the rest of this entry »
View Comments | Link/Bookmark/Share
April 15th, 2010
By Michael A. Thompson, CPA
In reflecting on this past year, it’s clear that it is our members who make the chapter a success.
Membership: As CalCPA reached its 100th year, our chapter surpassed 1,000 licensed members, which gives us one additional seat on CalCPA Council and increased leadership visibility.
Read the rest of this entry »
View Comments | Link/Bookmark/Share
January 29th, 2010
By Michael A. Thompson, CPA
We have had tremendous legislative success this past year in Sacramento with the passing of substantial equivalency and license status disclosure. Mobility legislation is still on the plate, and the California Board of Accountancy now requires peer review. This is quite an accomplishment as we approach CalCPA’s April 30 year-end.
Read the rest of this entry »
View Comments | Link/Bookmark/Share
January 4th, 2010
By Michael A. Thompson, CPA
Surprise! We just entered a new decade: 2010! You’ll spend the next few months working on tax returns from last decade. In anticipation of those heads-down months, I want to encourage you to update your firm profile on CalCPA’s “Find a CPA.” I also want to get you out of your office so you can attend our chapter social in Palo Alto and CPA Day at the Capitol in Sacramento. Here are the details:
Read the rest of this entry »
View Comments | Link/Bookmark/Share
December 9th, 2009
By Michael A. Thompson, CPA
The holiday season is here, and you are well aware that there are only a few weeks left for tax planning opportunities. In this year-end message, may I suggest talking to your clients about donating to their favorite charity? And don’t forget the chapter’s new year’s mixer.
Read the rest of this entry »
View Comments | Link/Bookmark/Share
November 2nd, 2009
By Michael A. Thompson, CPA
October was very active in Sacramento, with the governor signing four bills impacting CPAs: SB819 (150 hours); AB138 (mandatory peer review), AB117 (license status disclosure); and AB129 (taxpayer privilege). Below, I offer my comments on CalCPA’s homegrown source for CPE, which helps us maintain an active license. But first I will touch on our upcoming volunteer event and let you know that we are soliciting applications for members to sit on the chapter’s board of directors.
Second Harvest Food Bank: Join us Wednesday, Nov. 18, when we volunteer to sort food that was donated to the Second Harvest Food Bank in San Carlos—and we need three more volunteers! This will be the third consecutive year for chapter members to work together to directly help those in need within our community. We expect to sort 18,000 pounds of goods during our evening shift. The sorted items are then individually bagged for delivery to those in need in our community. Some say we live in an affluent community, however, this is not true for everyone, and this is your opportunity to experience where the need is in our local community.
Chapter Board Nominations: If you are interested in serving the chapter as a board member or committee chair, then please contact Jane Dunbar so she can schedule appointments with the Nominations Committee. Director responsibilities are to:
- Be familiar with issues affecting the profession
- Attend all meetings and be prepared to discuss agenda items
- Recruit and orient new board members
- Assess board performance
- Support CalCPA’s mission and purpose
- Ensure adequate chapter resources
- Manage financial resources effectively
- Determine, monitor and strengthen programs and services
- Enhance CalCPA’s public standing
- Ensure legal and ethical integrity and maintain accountability
CPA Inactive: As of Jan. 1, 2010, if your California CPA license is inactive, you will have to disclose that status whenever you use the CPA designation by placing “inactive” immediately after CPA on business cards, stationery, résumés, websites or other business communications. I recommend bringing your license current by taking continuing professional education offered by the CalCPA Education Foundation. The Education Foundation supports CPAs in business and industry through its courses tagged “Financial Leadership Forum.” Many of the offerings are developed in California, so here’s what to look for:
Education Foundation Conferences: These eight-hour conferences provide updates and overviews of industry issues and current topics. Upcoming conferences include Tax Update and Planning (Nov. 23-24) and International Tax and Business (Dec. 8).
Education Foundation Courses: The eight-hour CPE courses tend to focus on in-depth technical training for specific topics.
Education Foundation Webcast: You can attend courses and conferences via live webcasts, which are ideal for those of us who have to stay in the office.
Education Foundation Self-Study: You register for self-study CPE courses online, and then you print the material. You have the next year to study the material and take the online exam. The benefit of downloading the material and taking the exam online is that the results are immediate. I print the material because I like to scribble notes on paper. I find that I spend somewhat more time than the CPE hours given, but I’m fine with that, because the material is fantastic.
You can search for upcoming conferences, courses and webcasts online.
I encourage employers to reimburse their employees for CPA license fees, CalCPA membership and CPE and to allow staff time to attend CPE events. The Education Foundation can even bring CPE and MCLE to your business with customized training. Since California now places importance on an active CPA license, I believe corporate executive management should feel compelled to do its part to comply with the intent of this legislation. In addition, your external auditors should be able to place a greater reliance on in-house work when you present them with employee expense reports documenting professional reimbursements. The recently signed legislation is good for California, and therefore is good for the public.
View Comments | Link/Bookmark/Share
October 1st, 2009
By Michael A. Thompson, CPA
I ask local CPA firms to scour their employee ranks for CPAs with up to five years’ experience, CPA candidates and college students pursuing accounting education. These are our young and emerging professionals (YEPs), the future of our profession. I encourage you to get them involved in our chapter’s YEP groups. Alison Proctor and Anthony Rozenvasser co-chair our chapter’s Emerging Professionals Committee, and they have had fantastic success. Below are some of the events sponsored by their committee:
Getting Certified: More than 30 students and CPA candidates, who nearly overflowed the conference room provided by a local CPA firm, attended this July meeting. Alison and Anthony put out the word, and they also worked with our local colleges to publicize the program. There’s still a positive buzz from the event.
San Mateo County Bar Association: Chapter YEPs and the young professionals of the San Mateo County Bar Association will co-host an evening social at Burlingame’s Broadway Grill Oct. 21. The event is modeled after our annual attorney, bankers and CPA social. Connections made at these types of events are the kinds of relationships that can last a lifetime.
CalCPA Council: The council’s November meeting will focus heavily on what we are doing for YEPs and the importance of nurturing our profession’s future leaders. The council is where CalCPA’s Board and chapter representatives meet to discuss what’s important to CalCPA and the profession.
Our young and emerging professionals are so critical to our profession that both CalCPA and the AICPA are dedicating significant resources to their success. If these organizations are so focused on this generation’s success, then surely our local CPA firms should also promote the success of their younger employees. It may take more than 10 years for YEPs to be seasoned enough to enter the ranks of firm leadership, so supporting them early makes sense. YEP success is CPA success.
View Comments | Link/Bookmark/Share
August 28th, 2009
By Michael A. Thompson
Summer is ending, school is starting and we have a lot upcoming this fall. In September, we will celebrate CalCPA’s 100-year anniversary, scholarship applications are due in October and we are now using social networking to reach out to our membership.
Centennial Event: Our chapter is holding its celebration of CalCPA’s 100th year Thursday, Sept. 24 at the Menlo Circus Club in Atherton. At this event we will honor our past chapter presidents and our 40-year members. Our special guest is CalCPA Chair Andrea G. Cope, a partner with Burr Pilger & Mayer LLP (www.bpmllp.com), our Event Sponsor. Keynote speaker is Mary E. Barth, professor of accounting at Stanford Graduate School of Business. Barth is a former member of the International Accounting Standards Board and will talk about the globalization of financial reporting. Download the registration flier now—seating is limited!
Read the rest of this entry »
View Comments | Link/Bookmark/Share
