MSCPA
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Volume 22, Number Twenty-Four
Friday, June 15, 2012
   
This issue of Friday@Five is sponsored by:
ziptr2  
Dear Elizabeth,

The Society is seeking women CPAs who excel in their careers and communities to be recognized at the Annual Women to Watch Awards. Nominations are due on June 30 - Don't miss this opportunity to recognize the colleague who is a leader in the profession, mentor to staff, community volunteer or a rising star. Get more information about the Women to Watch Awards and download the nomination form. A reception to recognize the award recipients will be held on September 20. If your firm is interested in sponsoring this event, please email Julia Bowker.

The Society is also looking for tennis-playing members interested in a tournament to be held at the Tennis Hall of Fame in Newport, RI on August 30. The event will consist of a round-robin afternoon tournament followed by dinner for those who wish to stay. The Society needs 20 players by July 5 to secure the courts. If you are interested, email me.

 

In other news, Cambridge Redevelopment Authority is seeking bids for its 2011 Fiscal Audit. If you are interested in bidding, view their RFP.

Lastly, thank you to the firms, companies and individuals who participated in the MSCPA's 2nd Annual Day of Service today. Your efforts made a positive difference both to the organizations at which you volunteered, and also to the profession by showing that CPAs are dedicated to helping others and value giving back to their local communities. Send your Day of Service photos to Elizabeth Emanuelson. They will be posted on our website and sent to local media outlets. 


Have a great weekend.

 

 

  Ted's Signature
Theodore J. Flynn, CAE
President & CEO
CPE:
Small Firms and Solo Practitioners Conference (6/21)
Whether you're practicing on your own or in a small firm, this conference will help you build your business, improve your life and increase your bottom line. Discussion topics include
:
  • Internal and external succession options;
  • Preparing the next generation for success; and  
  • What keeps you up at night?

This conference will prepare you to tackle the top issues facing CPA firms. You won't want to miss it!  
Read more and register online

 

Succession Planning: Life After Death for Single Owner Firms (6/25 - Webinar)
If you get sick (or die) on March 15, what would happen to your practice, your clients, your long term staff and your family? Would your practice simply fade away or be sold in a fire sale? With strategic planning, the proper insurance and financing options designed specifically for CPA practices now available, you can determine a realistic value for your practice and establish a viable disaster plan before it's too late. Don't miss this chance to protect your legacy and give your family and staff a sense of security.
Read more and register online.  


CPE, Delivered to Your Desktop 
Day or night, you can find hundreds of webinars for every topic on our website. It's never been easier to get your CPE!
Search our webinars

Current News/Updates:

IRS Updates

  • Prepare for Hurricanes, Disasters by Safeguarding Tax Records
  • BDO USA, LLP to Pay IRS a $34.4 Million Penalty for Violating Tax Laws

Read more.   

 

DOR Updates

  • Sales/Use Tax on Publishing Software
  • Application of Sales Tax to Sales and Redemption of Qualifying Promotional Vouchers
  • Professionally Managed Funds; Trader Versus Investor Determination
  • Scope of Certain Permissible Activities and Use of a Security Corporation
  • Interest Rate on Overpayments and Underpayments  

Read more.   


Key Vote Advances Lease Accounting Project

Standard setters agreed on a lessee accounting approach, clearing the way for a lease accounting exposure draft in the fourth quarter. The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) were debating the classification and pattern of lease expenses in the income statement. They voted on Wednesday to support a lessee accounting model with different lease expense recognition patterns for different leases and clarified how to determine when the different patterns should be applied.
Read more.

Networking:
Committee Meetings Next Week

  • Small Firms Advisory (6/20)
  • Accounting & Auditing (6/20)
  • ERISA Acounting & Auditing (6/22)
    Mary Rosen of the Department of Labor - Employee Benefits Security Administration (DOL-EBSA) office will address the ERISA Accounting & Auditing committee and provide an update on issues related to 408(b)2 fee disclosure regulation and the newly required 404 disclosures.The meeting will be held at the offices of QRGA, 1410 Providence Hwy in Norwood at 9:00 a.m. Space is limited. Email Marianne Brush if you plan to attend.  

View the Committee Calendar

 

Marketing Committee Meeting (6/27)
Join the MSCPA Marketing Committee for an interactive discussion on LinkedIn with Barry MacQuarrie, social media consultant and IT Director at KAF Financial Group. MacQuarrie will discuss the latest LinkedIn best practices, including profile analyses, company pages, utilizing LinkedIn Groups and LinkedIn Answers, and also how to effectively coach partners and staff on using LinkedIn. The meeting will be held at the office of Braver in Needham from 8:30 - 10:00 a.m. Please email Julia Bowker if you are interested in attending.  

MSCPA/AICPA News:
Why the AICPA Supports FAF's Creation of Private Company Council
The AICPA had serious concerns about the Financial Accounting Foundation's (FAF) original proposal released last year to create a new body to recommend modifications in U.S. GAAP to reflect the private company environment. However, FAF made a number of structural and process improvements to the concepts, allowing the AICPA to support the Private Company Council that was unveiled late last month. The AICPA's main concern with the original proposal was that the Financial Accounting Standards Board would have too much influence, but FAF has strengthen the council's independence. 

Read more
.


12th Annual Women's Golf Outing: Photos and Team Results

The 12th Annual Women's Golf Outing on Tuesday brought 112 women together for a day of golf and networking at Juniper Hills Golf Course in Northboro. Proceeds were donated to the MSCPA Educational Foundation and earmarked for scholarships for women interested in pursuing careers in accounting.
Get the golf results and view photos from the event


New Volunteer Opportunities

  • Massachusetts Chapter of the National Organization for Women (NOW) - Treasurer
  • Massachusetts Chapter of the International Nurses Society on Addictions - Tax Help
  • CLASS - Board of Directors
View all volunteer opportunities. 
MSCPAonline.org Quick Links
This email was sent to eemanuelson@mscpaonline.org by fridayatfive@mscpaonlinemail.org |  
Massachusetts Society of Certified Public Accountants | 105 Chauncy Street | Boston | MA | 02111