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CEO Corner
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Dear Hannah,
This week was the AICPA's Fall Council Meeting, which is an opportunity for CEO Barry Melancon and his team to share their views on the top challenges in the profession, and what they're doing to address them. Much of the discussion centered around CPA Evolution, and its potential changes to the licensure process and CPA Exam, which will focus more on technology and data science. This will help attract students with those skills and help firms find qualified new hires. The concept of CPA Evolution
centers on these principles about the profession:
- We must adapt quickly due to technological disruptions such as data analytics, robotics, artificial intelligence and more. As such, the competencies, services and attitudes of CPAs must continually evolve to protect the public interest;
- Together with the state boards of accountancy, we recognize that technological and analytical expertise are essential to performing assurance work, as well as the other services that are currently, or will be in the future, core to professional accounting. We also acknowledge that sustaining the profession and continued public protection require rethinking initial licensure requirements;
- The profession, and therefore entry into the profession, must be redesigned to attract individuals with technological and analytical expertise. All must demonstrate minimum required competencies necessary to perform professional accounting services as a CPA; and
- The changes must be rapid, transformational and substantive without negatively impacting candidates currently in the pipeline.
It was an interesting meeting, and there will be more discussion on CPA Evolution in the months to come. We will keep you informed of any developments here, but I'd also love to visit your office to discuss this and other changes that are happening in the profession, and ways the Society can help your specific firm/company. To book a visit with me, please contact Kara Kieran.
Have a great weekend!
Amy Pitter
MSCPA President/CEO
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Get Involved
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Small Firm Roundtables (10/29 - 11/7)
Join us at various locations throughout the state for our Small Firm Roundtables! To register for a specific location, click on the link below:
Please submit specific questions and agenda items to Jill Foley.
*Attendees will earn two CPE credits.
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Cannabis Networking Group Meeting (10/30)
Join us next Wednesday at our Boston office as we kick off our first meeting with our new Cannabis Networking Group! The meeting will take place from 12:00 – 1:30 p.m. and will focus on the evolving cannabis industry and how you can get involved. If you are practicing in the cannabis industry or are interested in getting involved in the business, please contact Jill Foley or Larry Liuzzo to be added to the list of attendees.
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New! Advisory Network: Starting Your Own Firm
Are you thinking of starting your own practice? If so, the Starting Your Own Firm Advisory Network, a group of MSPCA members who are fellow small firm owners, are here to help you navigate the process! Members connect virtually or in-person to share their experiences, best practices and advice to help guide you through the process of launching your own practice.
If you're interested in connecting with members or joining the Starting Your Own Firm Advisory Network, contact Kara Kieran.
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Featured Conference
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See who's coming and join us November 20-22 for our annual New England Practice Management (MAP) Conference at Foxwoods, where you'll spend three days networking and gaining valuable knowledge that will propel your firm's growth. You'll hear from incredible speakers and expert exhibitors who will discuss the latest trends that are transforming the accounting industry, including emerging technology, turnover and employee engagement, D&I, pricing, new services and more. REGISTER
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Networking Events
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We're coming to Springfield! Grab your pints, mugs, pilsners, steins or snifters with fellow MSCPA members to celebrate your hard work! Join us on November 6 at Two Weeks Notice Brewing Company in West Springfield from 5:30 - 7:30 p.m. For just $40, you'll get three drink tickets and heavy appetizers. If you have any questions, please contact Jill Foley. REGISTER
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MSCPA & XPX New England Joint Networking Event (11/6)
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| Join the MSCPA and XPX New England at Central Wharf in Boston for a unique networking opportunity to connect with like-minded professionals, establish new business relationships and more. Registration includes two drink tickets and appetizers. REGISTER
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I'm a Senior, Now What? (11/14)
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| You did it! You've put in the hard work to achieve your new position as a senior. We have created an event, sponsored by the MSCPA's Young Professionals Committee, to help you navigate what's next with confidence and provide you with the tools you need to be successful in this next stage of your career. This roundtable style discussion will be an open dialogue between you, your peers and a group of experienced seniors and supervisors. REGISTER
*Attendees will earn two CPE credits.
| #MemberMonday
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| CPE
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Reviewing Individual Tax Returns: What Are You Missing? (10/28)
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Identify common mistakes made and strategies to avoid making them on individual tax returns, examine case studies and discuss issues where additional information from the client may be warranted and areas of tax law that require additional analysis and information. REGISTER
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Reviewing Partnership Tax Returns: What are you Missing? (10/28)
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Analyze common mistakes made on partnership tax returns and how to avoid making them, and sharpen your skills by reviewing case studies and areas of tax law where proper treatment requires additional analysis and information. REGISTER
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Slashing Taxes for Your Small Business Clients (10/29)
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Determine important tax considerations for small businesses and the different entity type options available, choose an appropriate strategy for compliance with the Affordable Care Act employer provisions, recognize the various ways in which LLC owners may be subject to self-employment taxes and more. REGISTER
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Data Visualizations with Excel and Power BI (11/5)
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Learn how to create powerful, dynamic dashboards in Excel and how to supercharge your skills with Power BI! This course will teach you how to see your data in a whole new light and gain deeper insights into your firm. REGISTER
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Member News
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BLUMSHAPIRO, Worcester, announced that
ALAN OSMOLOWSKI, CPA and
WILLIAM TARZIA, CPA, partners, were appointed as co-leaders for the firm's new Worcester location.
SCHWARTZ & SCHWARTZ, Woburn, announced that
ANDREW SCHWARTZ, CPA will present to accounting students at UMass Lowell on the benefits of becoming a specialist on November 21.
SHARE YOUR NEWS
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Form 1120S
Massachusetts Corporation ITC - Lease of Building
Late File Form 5472
Checkpoint Edge
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MEMBER BENEFIT: WWE RAW (11/18)
Monday Night RAW returns to TD Garden on Monday, November 18. See Seth Rollins, Braun Strowman, AJ Styles, Becky Lynch and more. Discounted tickets for select seat locations are available. To purchase discounted tickets, click here and enter promo code
RAW240.
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LOOKING TO BUY OR SELL A PRACTICE?
Learn critical information about the merger and acquisition (M&A) process that will help you determine your next step! Posting classified ads are a great, cost-effective way to get the word out and engage with an audience of CPA
professionals! Ads are included in the next available issue of
SumNews and posted on our website for potential buyers or sellers to view online. For more information, click here or contact Kristin Wells.
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Tax Preparation - Friends of the Ipswich Public Library
Consultant - Healthworks Community Fitness
Board Member - Drama Studio
Review of Annual Statements for Form PC - Urban Village Montessori, Inc.,
Marigold Montessori
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FET Tax Analyst - American Outdoor Brand Corporation
Personal Financial Planning Associate - Robinson Hill LLC
Tax Manager - RINET Company, LLC
Audit Associate - Kevin P. Martin & Associates (KPM)
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Tax Preparer (Half to Full Time) - Fox-Warren & vanBeuzekom LLC
Tax Season Preparers - Levine Caufield Martin & Goldberg PC (LCMG)
Seasonal Tax Reviewer - Karen M. Saporito, CPA
Hearing Committee Members - Board of Bar Overseers
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105 Chauncy Street, 10th Floor, Boston, MA 02111
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