Dear Hannah:
One of my personal goals as your CEO is to focus on ways the
Society can better serve you. Our members are in nearly every facet of the profession: sole proprietors in small, medium and large firms; firm leaders
trying to adapt to a changing profession; boomers thinking about succession planning; mid-career folks seeking advancement opportunities; and young
professionals launching their personal lives and their professional careers. We have members in public accounting and corporate finance professionals;
members who love our events; members who rely on us for learning and development; and members who just like knowing we have their backs on Beacon
Hill. We want you to get the most out of your membership, which starts with listening to you and then integrating your wants and needs into everything
we do. Step one is to listen.
To that end, we have engaged a national research and strategy firm, McKinley Advisors, to design and administer an
important survey on how the Society can best serve members and the accounting field as a whole. You should have received an email addressed from
McKinley Advisors last week asking you to participate in a survey. If you have not already participated, please follow the steps below:
1. Check your messages for a message titled “Help MSCPA
Serve You Better” sent from Amy Pitter, CEO, MSCPA on December 3. This email contains a unique survey link that automatically saves your
responses. If you are having trouble locating this message, please contact survey@mckinley-advisors.com.
2.
If you are unable to locate the survey invitation and have not yet started the survey, please click here to contribute your thoughts today.
Candidly, the survey is on the long side, but it will give us the nuanced
information we need to genuinely serve your needs. Plus, participants will be entered to win a grand prize of one iPad mini or one of four $50 Amazon
gift cards. The survey is confidential and individual survey results will not be disclosed to the MSCPA.
Thank you in advance for your input and continued support of the MSCPA!
Amy A. Pitter
President & CEO
NETWORKING & MEMBERSHIP:
Upcoming Committee
Meetings
-Federal Taxation (12/15) -Nonprofit Accounting
& Auditing (12/15) -State Taxation (12/16)
-Accounting & Auditing (12/16) -Small Firm Advisory (12/16)
-Litigation Consulting & Business Valuation (12/16) -Real Estate
(12/17)
Hear a presentation on real estate tax credits offered by Nick Ratti of CohnReznick. The meeting will
take place from 8:30 – 10:00 a.m. in conference room A on the 9th floor of 105 Chauncy Street in Boston. Please RSVP to Barbara Iannoni.
South Shore Breakfast Forum (12/17) Lorraine Travers, CPA and Chris Pulick, CPA, KPM will lead a discussion on the annual federal tax
updates.
Developing Your Personal Brand Workshop
(1/8) While developing
brand recognition is crucial for companies and consumer products to be successful, it's equally as important for professionals to develop their own
personal brand. The MSCPA and Grant Thornton are co-hosting a breakfast workshop for young professionals to help bring awareness to their personal
brand.
Speed Mentoring (1/13) Are you looking for advice,
need help setting goals, unsure of your next step or want to broaden your network? Then, this event is for you! Speed mentoring focuses on
time-efficient networking and access to experienced professionals for real-time advice and guidance. All levels are welcomed and encouraged to
attend.
Recruiters, Take Note!
Don’t miss the opportunity to include your firm in the 2016 edition of the
"College Student's Guide to Accounting Firms in Massachusetts." A valuable resource for job-seekers of any experience level, this
directory is one of the most-frequently downloaded documents on MSCPAonline.org and CPAtrack.com. The print edition is distributed to accounting
departments and career centers at colleges throughout the Commonwealth.
NEWS &
RESOURCES:
16 Conversation Starters That Work Every Time It can be tough to start
talking to a stranger. These sentences will help.
Technology Gifts for CPAs These laptops,
tablets, watches and other gadgets will make you a hero to your favorite CPA (even if that’s you).
Productivity Hacks: Get Twice as Much Done in
Half the Time
Feel like
there's not enough time in the day to get through your to-do list? Here are three productivity hacks that can help you
prioritize.
The Annual Nail-Biter: What Will Happen with Tax Extenders? It's déjà vu all over
again. Tax season starts soon, and Congress has not yet renewed a slew of tax provisions, such as the deductions for state and local sales tax and
student loan interest. Edward Karl, CPA, CGMA, AICPA vice president of taxation, offers his now annual prediction for when we may see some
action.
CPE:
Accounting for the New Revenue
Standard (12/17) This program is a
combination of a lecture and workshop where participants will be given situations to analyze and conclude as part of a group. This course engages
participants, provides for lively discussion points and reinforces the overall understanding of the new standard.
Compilation and Review Practice Guide (12/18)
Compilation and review issues have dominated the profession recently due to the issuance of
SSARS 19 and its codification in AR Sections 60, 80 and 90, as well as the issuance of the ARSC's proposal for its new Clarity Project. This program
addresses these changes and current performance requirements.
GAAP Disclosure and Review (12/18)
Cash and income tax basis financial statements will be discussed as an alternative to GAAP
statements. Each topic is based on real-life case studies developed by the author's personal experience in conducting peer reviews and serving as a
technical reviewer for CPA firms.
LEGISLATIVE UPDATE:
IRS Update: Watchdog
Sounds Alarm on IRS Control Deficiencies
A recent U.S. Government Accountability Office (GAO) financial audit of the IRS
indicates a “significant deficiency” in the agency’s internal controls, exposing the agency to increased
fraud.
DOR Update: November Revenue Collection Total $1.674 Billion
The DOR announced that last month, the state took in $1.674 billion in revenue, $55 million below the monthly benchmark. Year-to-date
collections are $73 million over benchmark.
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