Archive for the ‘President's Message’ CategoryLegislative SuccessJanuary 29th, 2010
January Is a Good Month for CalCPA MembersJanuary 4th, 2010
Thoughts on Year-End Charitable GivingDecember 9th, 2009
Easy Ways to Keep Your License CurrentNovember 2nd, 2009
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:
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.
Young and Emerging Professionals: Our FutureOctober 1st, 2009
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.
Jump into FallAugust 28th, 2009
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!
Career OptionsJuly 22nd, 2009
Bookkeeper: In a small business a good bookkeeper is always highly prized. To become a bookkeeper you need at least a high school diploma and you must be trustworthy. You gain experience and confidence through on-the-job work experience. You may use accounting software such as QuickBooks to record revenue from cash register sales, and you may also write checks to pay for business expenses. Should you wish to become a certified bookkeeper, the American Institute of Professional Bookkeepers sponsors the Certified Bookkeeper designation. For certification, candidates must have at least two years of bookkeeping experience, pass a four-part examination and adhere to a code of ethics.
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Attention Candidates: Here’s How to Complete Your CPAJune 30th, 2009
CPA Exam: The California Board of Accountancy retains CPA Exam results and college transcripts indefinitely. Therefore, you will need to submit an “Application for Certified Public Accountant License.” It is helpful for you to know your CPA Exam unique identifier and the date you passed the exam. If you passed the CPA Exam in another state, you will need to transfer those grades to the CBA.
Three PredictionsMay 19th, 2009
Substantial equivalency: I predict that legislation will pass requiring those entering the CPA profession to obtain 150 semester hours of education. When California becomes a substantially equivalent state, California CPAs will be able to perform services for clients with a business presence in other states. CPAs perform audit services, expert consulting and tax services for companies and individuals nationwide. In practice many CPAs already cross state lines simply by making a telephone call, writing an e-mail or sending a letter to anyone in another state. Already 46 other states are substantially equivalent. A natural consequence, however, is that California CPAs will have to abide by the rules and regulations of the other states. Thus, CPAs will have to self-assess whether they are qualified to perform the services for which they are engaged. License status disclosure: I predict that California CPAs with an inactive CPA certificate will be required to disclose “CPA Inactive” on their business cards and letterhead. Currently, inactive CPAs can refer to themselves on a business card, résumé or letterhead as being a CPA even though they have not taken continuing education. This legislation will primarily impact CPAs working in business and industry. Would CFOs want to refer to themselves as “CPA” or “CPA Inactive”? I believe this proposed legislation will provide transparency to the public. CalCPA’s financial literacy initiative: I predict that CalCPA will give back to the community through its financial literacy efforts. Community groups and schools regularly request speakers from CalCPA to talk about financial basics. This service is free to the public, and there’s no salesmanship—our programs are purely educational. What a wonderful public service as we ride through these tough economic times. If you are a CPA and would like to participate in this program, let us know, and we will make it happen. I would like to thank immediate past president, Karen R. Goodfriend, CPA, PFS, for her dedication to our chapter. I also would like to recognize Karen’s appointment to the AICPA PFS executive committee. This AICPA position is quite an honor, and especially so right now, given that Karen has risen to the top during our country’s economic turmoil. Let’s give Karen a round of applause.
What a Year!April 15th, 2009
By Karen R. Goodfriend, CPA, PFS
The financial crisis has profoundly impacted our economy, profession, clients and us, as individuals. I remain confident, though, that our profession will play an instrumental role in helping our clients and the public navigate through these challenging times. Our profession has earned a high level of trust from clients and the public. Such trust is valued all the more as we see all too many scandals come to light during these difficult times. As the upcoming year’s chapter leaders assume or continue their roles, I encourage you to get to know these dedicated individuals and communicate your thoughts and questions to them. This is an enthusiastic group—watch for some excellent upcoming programs. Our chapter officers, board and committee chairs are a diverse lot that represent our membership across the age spectrum and include sole proprietors, plus members working in multi-office firms, industry and public practice. For example, our new president, Michael Thompson, has an industry background. From his other leadership roles within CalCPA, including the Education Foundation, Mike will bring great ideas to our chapter. I am confident Mike will lead our chapter well. Finally I want to thank and acknowledge all who contributed such great ideas and programs during my term, including the committee chairs, directors and officers. And a very special thanks to Jane Dunbar, our Program Associate, who makes it all happen. I look forward to continuing my involvement with CalCPA and the chapter. Let’s stay in touch!
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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.
