1. finance
2. accounting and auditing

Again this year, an outstanding
group of the CPA profession’s national
and regional speakers will headline the
Society’s A nnual Meeting and Fall
CPE Conference.
The 2014 event will mark the Society’s 86th anniversary as Nebraska’s premier professional association.
The 2014 A nnual Meeting and Fall
Nebraska CPAs!
Don’t forget to VOTE
November 4, 2014
CPE Conference will be held at the
Embassy Suites Omaha-LaVista Hotel
and Convention Center in LaVista just
off Interstate 80 at Exit 442, Giles
Road/Harrison Street. The dates of the
event will be October 27-28, 2014.
The Society’s Annual Business
Meeting Luncheon will take place during the Conference at noon on Monday
October 27. The two-day annual event
gives Society members an excellent
opportunity to earn up to 16 hours of
continuing professional education
credit including two credit hours of
ethics.
As usual, the Fall CPE Conference
will feature an impressive agenda of
national and regional speakers. Opening the conference at 8:10 a.m. on
Monday, October 27 will be Richard J.
Caturano of Boston, MA who is a
former AICPA Chairman of the Board
and gave a similar presentation at the
Society’s 2012 Conference. Richard is
the Executive Managing Partner in the
Boston office of McGladrey & Pullen,
LLP. He will present the AICPA’s
“Professional Issues Update.”
Other outstanding speakers highlighting the 2014 conference are Society member Larry Kopsa of Kopsa Otte
CPAs & Advisors who will speak on
federal tax issues during his presenta-
Continued on Page 7
October 2014
Official Publication of the Nebraska Society of CPAs
Current and future members of the Nebraska Society’s Board of Directors met for the annual Board
Retreat on Friday, August 22, 2014, at Mahoney State Park. The Retreat included updates from the AICPA, the
Nebraska Board of Public Accountancy and a quarterly Board meeting. For more information about the Retreat
check pages 4 and 8 of this newsletter. From left to right: Shari Munro of Omaha, Vaughn Benson of Wayne,
Treasurer Michelle Thornburg of Omaha, Tom Meister of Omaha, Sheila Brugger of York, Secretary Pat Kirlin
of Omaha, Chairman Dan Wells of Omaha, John Fruhwirth of Omaha, Richard Gifford of Scottsbluff, Patrick
Lavelle of Omaha, Board nominee Ryan Parker of Fairbury and Chairman-Elect Tony Pruss of Norfolk.
A bipartisan majority of the U.S.
House of Representatives – 233 members – have signed a letter (by early
September 2014) urging the House
leadership to preserve the cash method of accounting for tax purposes,
writing that proposals requiring a
transition to the accrual method “will
have a severely detrimental impact on
thousands of businesses in our districts.”
In Memoriam
Lonnie L. Points
Council Bluffs, IA
1949-2014
Nebraska Certificate #1316
Society Certificate #973
2
Nebraska Second District Congressman Lee Terry is one of the
letter signers.
Last month, a similar Senate effort gained the backing of 46 members of that chamber. Nebraska Senator Mike Johanns has signed the
letter in the Senate.
The American Institute of CPAs
(AICPA) is a leading opponent of
congressional efforts to mandate the
use of accrual accounting for businesses and individuals who exceed
$10 million in annual gross receipts.
The AICPA partnered with state CPA
societies and CPA firms to help secure the support and signatures of
lawmakers on both sides of Capitol
Hill.
“Those who use the cash method
of accounting include many of our
local job creators and professionals
including accountants, architects, attorneys, dentists, engineers, farmers,
physicians and financial service professionals,” the legislators explained
in a September 11 letter to Speaker
John Boehner (R-Ohio) and other
members of the House leadership.
“Importantly, the cash method of accounting is the foundation upon
which these businesses have built
their business models for decades.”
The House effort was led by Representatives Brad Schneider (D-Ill.),
Richard Hudson (R-N.C.), Mike
Quigley (D-Ill.) and Blaine Luetkemeyer (R-Mo.).
The House letter explained that
the cash method of accounting is a
simple method in which income is
recognized when it is collected. By
comparison, the accrual method of
Continued on Page 3
CASH METHOD . . .
From Page 2
accounting recognizes income when
a service is performed, regardless of
when cash is collected. “If forced to
pay taxes before income is received,
as would be required under the accrual method, less money would be
available to small businesses for
growth and job creation,” the lawmakers wrote. “Additionally, cash
flow management becomes far more
complex as a result, and will likely
trigger the need for additional outside
financing.”
“While we believe reforms to the
tax code should provide a simpler
and fairer tax system, requiring the
use of the accrual method for entities
currently using the cash method will
not achieve these goals,” the House
letter concluded. “As we seek to best
represent the concerns of the constituents in our districts, we strongly
urge you to preserve the cash method
of accounting.”
“Colleagues from state CPA societies and our members have been instrumental in this effort,” said
AICPA President Barry C. Melancon.
“Thanks to them, more than half of
the House and nearly half of the Senate – from both parties and every
state – have voiced their opposition
to a proposal that unfairly penalizes
CPA firms, among other businesses.”
Members in the News
Ryan Cook of Elkhor n has
been elected a shareholder in the
Omaha firm of Lutz & Co. PC
and Matt Storm of Omaha has
been appointed Assistant Controller.
Amy Hatcher of Elkhorn
has been named Chief Financial
Officer for Children’s Hospital &
Medical Center in Omaha. . .
Tanya Johansen of St. Paul has
become a Shareholder in the
Grand Island firm of Schroeder &
Schreiner, PC.
GOVERNMENT FINANCE
OFFICERS SET
2014 CONFERENCE
The Great Plains Government
Finance Officers Association’s
2014 Fall Conference has been
scheduled for October 22-23, 2014
in LaVista. The event will be held
at the Embassy Suites Omaha-La
Vista, 12520 Westport Pkwy, in La
Vista.
The two-day annual event will
feature presentations including “A
GASB Update”, “Schemes, Scams
& Swindlers”, “Internal Controls”,
and “Shaping the Next Generation
of Budget Analysts”. Candidates
for Nebraska State Auditor will
speak during the Conference’s two
luncheons.
For more information, including a registration form, go to the
organization’s
website
at
www.gpgfoa.org.
Nebraska CPA is published ten times annually for
members of the Nebraska Society of CPAs. Publication
is monthly, with the exception of two combined issues:
February/March and December/January. Copy deadline
is the tenth of the month prior to publication.
Nebraska Society of CPAs
635 South 14th Street, Suite 330
Lincoln, Nebraska 68508
(402) 476-8482 or (800) 642-6178
Fax (402) 476-8731
Email [email protected]
www.nescpa.org
OFFICERS
Daniel L. Wells, Chairman
Anthony J. Pruss, III Chairman-Elect
Patrick G. Kirlin, Secretary
Michelle R. Thornburg, Treasurer
Patrick J. Lavelle, Immediate Past Chairman
DIRECTORS
Vaughn L. Benson
Sheila A. Brugger
Thomas J. Meister
Shari A. Munro
John W. Sehi
John B. Fruhwirth
Elected Member of AICPA Council
Richard D. Gifford
West Nebraska Chapter President
STAFF
Dan Vodvarka, President
Trudy Meyer, Vice President
3
By Dan Vodvarka
Society President
Following its annual Board Retreat, the Society’s Board of Directors
held a quarterly meeting on August 22,
2014, at Mahoney State Park. Presided over by Chairman of the Board Dan
Wells of Omaha, the Board discussed a
wide variety of issues and received
updates regarding Society services and
activities.
Among the actions taken at the
afternoon Board meeting, the Board:
 Reviewed and accepted the drafts
of the Society’s Audit, Form 990
federal tax return and Management
Letter for the year ending March
31, 2014, as presented by Tom
Grafton of Grafton & Associates
of Lincoln, the Society’s current
audit firm.
 Approved the Society’s financial
reports of June 30, and July 31,
2014, and 20 membership applications.
 Reviewed a report from Trudy
Meyer, Society Vice President,
regarding the status of the Society’s 2014 continuing professional
education programs through August 22, 2014.
 Approved the report from the
chairman of the 2014 Nominating
Committee, Immediate Past Chairman Patrick Lavelle of Omaha,
regarding the Society’s leadership
slate for 2014-15 and forwarded
the slate to the entire membership
for consideration at the Annual
Meeting on October 27, 2014, in
LaVista.
 Discussed the two 2014 appointments to the Nebraska Board of
Public Accountancy (State Board)
by Nebraska Governor Dave
Heineman. Dan Vodvarka, Society President, reported that the Governor has re-appointed Society
member Marcy Luth of Grand Island to a full four-year term begin-
Manage Exchange and
Professional Risk with the Midwest’s
Premier Exchange Resource
ning in September 2014 and also
re-appointed Society member Bernie Gutschewski of Omaha to his
second four-year term on the State
Board beginning in September.
 President Vodvarka reviewed
with the Board an initial draft of
legislation from the State Board
regarding potential changes in
the State Board’s Quality Enhancement Program. The draft
legislation may be introduced in
2015 for consideration by the
Nebraska Legislature.
 Chairman Wells thanked Tom
Meister of Omaha and Immediate
Past Chairman Patrick Lavelle of
Omaha for their years of service as
they completed their time on the
Board of Directors at the meeting.
During its Retreat in the morning,
the Board discussed AICPA and CPA
profession national issues with Thomas E. Hilton of St. Louis, MO who is a
member of the AICPA Board of Directors, discussed the results of the Society’s 2013 Membership Survey and reviewed state regulatory issues with
Dan Sweetwood, State Board Executive Director.
The next Society Board meeting is
scheduled for October 27, 2014, in La
Vista during the Society’s 2014 Annual Meeting and Fall CPE Conference.
Membership
Applications
Nebraska Society membership applications
have been received from the following individuals. Objections should be filed with the
Secretary of the Nebraska Society of CPAs:
Patrick G. Kirlin, Rhea Cattle Company,
5935 McCall Lane, Arlington, NE 68002.
Jennifer
IPE 1031 • 1922 INGERSOLL AVENUE • DES MOINES, IOWA 50309
515.279.1111 • 888.226.0400 • FAX 515.279.8788 • [email protected]
WWW.IPE1031.COM
4
R. Claus, Gallup;
Omaha
Tanya K. Stogsdill Lees,
HBE Becker Meyer Love,
LLP; Lincoln
Kyle P. Teel, Debr a J .
Wilcox, CPA, LLC;
McCook
The Nebraska Society of CPAs’ CPE Calendar
Date
Course Conference / Course Title
Type
www.nescpa.org
Discussion Leader
Facility & Location
October
1
OGLI
Oil and Gas Taxation: Landowner & Investors
R. "Butch" Rogers,
Nichols Patrick
Holiday Inn & Conf. Ctr., Kearney, NE
3
GTTL
A GASB "Top 10" - Key GASB Statements: Critical Requirements
AA Paul Koehler, CPA
& Illustrations
Quarry Oaks, Ashland, NE
16
SELL
Buying and Selling a Business: Critical Tax and Structuring Issues
TX
Maury B. Reiter, Surgent
McCoy
The Cornhusker, Lincoln, NE
17
TARE
The 25 Most Important Tax Aspects of Real Estate Transactions
and Investments
TX
Maury B. Reiter, Surgent
McCoy
The Cornhusker, Lincoln, NE
27-28
FALL
14th Annual FALL CPE Conference—See Page 6
30
EXIB
Hot IRS Tax Examination Issues for Individuals & Businesses
TX
Scott Emerson,
Surgent McCoy
Fairfield Inn & Stes, Grand Island, NE
31
AP41
Advanced Form 1041 Practice Workshop
TX Scott Emerson
Fairfield Inn & Stes, Grand Island, NE
3
TCFO
Current Developments and Best Practices for Today's CFOs &
Controllers
MA Art Pulis, Surgent McCoy
Fairfield Inn & Stes, Grand Island, NE
4
PLFB
CFO/Controller's Roadmap to Organization Success with Integrated Planning, Forecasting and Budgeting
MA Art Pulis, Surgent McCoy
Mahoney State Park, Ashland, NE
5
SASC
The Clarified SAS's - SAS 117 to Current
AA Paul Koehler, CPA
Mahoney State Park, Ashland, NE
6
SAOC
Single Audits Under OMB Circular A-133
AA Paul Koehler, CPA
Mahoney State Park, Ashland, NE
7
H1TU
2014-2015 One-Day Federal Tax Update – Individual, Business &
Vern Hoven &
TX
Corporate
Ron Roberson
10
AAUP
Accounting and Auditing Update for Tax Practitioners
AA Thomas V. Snell
Mahoney State Park, Ashland, NE
11
AWPD
Surgent's Audit Workshop: Best Practices in Planning & Designing a High-Quality and Profitable Audit
AA
Thomas V. Snell,
Surgent McCoy
Mahoney State Park, Ashland, NE
12
FGAC
Fundamentals of Governmental Accounting and Reporting
AA John Georger, Jr., AICPA
Fairfield Inn & Stes, Grand Island, NE
13
EO-OMB
Applying OMB Circular A-133 to Not-for-Profit and Governmental
Organizations
AA John Georger, Jr., AICPA
Fairfield Inn & Stes, Grand Island, NE
14
SAYB
Studies on Single Audit and Yellow Book Deficiencies
AA John Georger, Jr., AICPA
Fairfield Inn & Stes, Grand Island, NE
17
ELose
Ethics and Nebraska Professional Standards: 10 Ways to Lose
Your CPA License with Gary Zeune (4-Hour Morning Course)
ET
Gary Zeune, CPA,
Zeune & Assoc.
Embassy Suites Conf. Ctr., LaVista, NE
17
ACA2014
Fraud in the Affordable Care Act: 15 BIGGEST Risks for 2014
(4-Hour Afternoon Course)
AA
Gary Zeune, CPA,
Zeune & Assoc.
Embassy Suites Conf. Ctr., LaVista, NE
18
CFO
Gary Zeune’s Controller to CFO: 11 Skills to Transform Yourself
MA Gary Zeune, CPA
Embassy Suites Conf. Ctr., LaVista, NE
19
HTOF
From Hiring to Firing and Everything In-Between: Legal, Tax and
Health Care Issues
John Cox, MBA, JD,
TX
Surgent McCoy
Mahoney State Park, Ashland, NE
20
MBAD
MBA in a Day!
MA John Cox, MBA, JD
Mahoney State Park, Ashland, NE
24
ETU
2014 Essential Tax Update
TX Bradley P. Burnett, J.D.
Divots Conf. Ctr., Norfolk, NE
25
SPU
Succession Planning Update for Closely Held Businesses, Farms
Bradley P. Burnett, J.D.,
TX
and Ranches (4-Hour Morning Course)
LL.M.
Divots Conf. Ctr., Norfolk, NE
25
ISNR
IRS’ Scathing New Repair vs. Capitalize Regs (4-Hour Afternoon Course)
Divots Conf. Ctr., Norfolk, NE
TX
Various
Embassy Suites Conf. Ctr, LaVista, NE
November
OPPORTUNITIES AVAILABLE
TX
The Cornhusker, Lincoln, NE
Bradley P. Burnett, J.D.,
LL.M.
PAGES 5, 10, 11 & 12
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Revenues made up mostly of mthly reoccurring accntg svcs.(82%). Strong fee structure, good cash flow over 50%. SW Nebraska CPA Practice for Sale: Gross $190k;
loyal, long-term client base. Primarily tax work. Solid fee structure, low overhead &
excellent cash flow over 80%. For more information about these opportunities and
others in your area, please call 1-800-397-0249.To view listings, inquire for details,
and register for free email updates visit us at www.AccountingPracticeSales.com.
CPA position with 5 or mor e
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5
THE NEBRASKA SOCIETY OF CPAS’ 14TH ANNUAL FALL CPE
CONFERENCE - OCTOBER 27 - 28, 2014
Embassy Suites ~ 12520 Westport Parkway, La Vista, Nebraska
Conference Fees:
The fee covers all conference sessions, materials, lunches, continental breakfasts and refreshment
breaks. Early registration is encouraged.
$385 - Two Days Society Member $415 - Two Days Non-Society Member $305 - One Day - Society Member
Conference Agenda & Registration Form
PLEASE MAKE YOUR SELECTIONS BELOW AND EMAIL ([email protected]), FAX (402.476.8731) OR MAIL (NEBRASKA SOCIETY OF CPAS,
635 S. 14TH STREET, SUITE 330, LINCOLN, NE 68508) THIS FORM. YOU WILL RECEIVE A CONFIRMATION WITHIN 3 BUSINESS DAYS. YOU CAN
ALSO REGISTER ONLINE AT WWW.NESCPA.ORG/CONFERENCEREGFORM.PHP. PLEASE NOTE SPECIAL LODGING RATES ARE ALSO AVAILABLE.
MONDAY, OCTOBER 27, 2014
7:00 to 8:00 AM
8:10 to 9:40 AM
10:00 AM to Noon
12:00 to 1:30 PM
1:30 to 2:40 PM
3:00 to 4:00 PM
Registration & Continental Breakfast
“AICPA’s Professional Issues Update” – Richard J. Caturano, CPA, AICPA Past Chairman
“World’s Fastest Tax Update” – Larry Kopsa, Kopsa Otte CPAs & Advisors
Luncheon and Annual Business Meeting
“Fraud Schemes & Scams: Lessons from the Trenches” – Shauna Woody-Coussens, BKD LLP
Breakout Sessions - Please select one breakout session by filling in the circle ().
“The Succession Planning Action Guide for Professional Firms” – Nick Niemann, McGrath North
“From a CPA in Nebraska Legislature, Why You Should Run For Public Office” – Senator Galen Hadley
“Lean Accounting” – Dr. Roopa Venkatesh & Annie Messersmith, Nebraska Business Development Center
4:00 to 5:00 PM Breakout Sessions - Please select one breakout session by filling in the circle ().
“The Succession Planning Action Guide for Business Owners” – Nick Niemann, McGrath North
"Current Trends in Risk Management” – Jack Struyk, Lockton Companies
“Lean Accounting” – Dr. Roopa Venkatesh & Annie Messersmith, Nebraska Business Development Center
7:30 to 8:00 AM
8:00 to 9:00 AM
9:05 to 10:40 AM
10:55 am to 12:05 PM
12:05 to 12:50 PM
12:50 to 2:00 PM
2:15 to 4:00 PM
4:00 PM
TUESDAY, OCTOBER 28, 2014
Continental Breakfast
“The Tax Commissioner’s Update” – Kim Conroy, Nebraska Department of Revenue
“Nonpublic Entities Getting Attention, FINALLY!” – Kelly Karmazin & Tony Eitzmann, Seim Johnson, LLP
Breakout Sessions - Please select one breakout session by filling in the circle ().
“Disaster Recovery: Safeguarding Company Data” – Phil Lieber, P&L Technology
“Revenue Recognition” – Arie Wilgenburg, Deloitte & Touche LLP
"Education to Careers, Creating Strategic Partnerships ” – Catherine Lang, Accelerate Nebraska
Luncheon
Breakout Sessions - Please select one breakout session by filling in the circle ().
“Maximizing Your IT Through Server Virtualization” – Phil Lieber, P&L Technology
"Health Insurance Update” – Tony Sorrentino, SilverStone Group
"NE Board of Public Accountancy & QEP Updates” – Dan Sweetwood, NE Board of Public Accountancy
“Ethics Update” – Jimmy Williams, Compass Capital Management, LLC — 2 Hours of Ethics
Conference Adjourns
Confirmation and/or Credit Card Receipt:  Email  Mail
Address: _______________________________________________________
Attendee _______________________________________________ Firm/Business ________________________________________________
Mailing Address
 Firm  Home ____________________________________________________________________________________
Contact Name ___________________________________________ Contact Number ______________________________________________
Special Accommodations Needed: _________________________________________________________________________________________
Payment Information: Amount $ __________________
 Check  MasterCard  Visa
Credit Card Number ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___
Print Card Holder's Name _____________________________________
Credit Card Billing Address, City, State & Zip
6
Expiration Date ________________
CVV Code (on back of cc) ____ ____ ___
Card Holder's Signature __________________________________
ANNUAL MEETING . . .
From Page 1
tion, “World’s Fastest Tax Update.”
As has been a tradition at the Conference, Kim Conroy of the Nebraska
Department of Revenue will open the
second day of the Conference with,
“The Tax Commissioner’s Update.”
Also scheduled to present two
breakout sessions is Society member
Nick Niemann of McGr ath Nor th
in Omaha. Niemann will present,
“The Succession Planning Action
Guide for Professional Firms” and
“The Succession Planning Action
Guide for Business Owners.”
Another popular speaker returning to the Conference is Shauna
Woody-Coussens of BKD LLP’s
Kansas City, MO office who will
present “Fraud Schemes & Scams:
Lessons from the Trenches.” And
Phil Lieber of P & L Technology of
Omaha will present “Disaster Recovery: Safeguarding Company Data”
and “Maximizing Your IT Through
Server Virtualization.”
The conference will also feature
breakout sessions both days on a variety of tax, accounting and business
management issues. To review the
complete two-day agenda for the
conference go to page 6 in this newsletter
or
www.nescpa.org/
conferenceregform.php.
Annual Business Meeting
The Society’s Annual Business
Meeting on October 27 will include a
report from the current Society Chairman, Dan Wells of Omaha, regarding
the Society’s activities, projects and
member services during the past year;
recognition of 2014 Society award
recipients and recognition of new
Nebraska CPA certificate holders and
recipients of 2014 Society Foundation scholarships.
The luncheon
meeting is scheduled for noon to 1:30
p.m.
Also on the program will be the
traditional “passing of the Chairman’s gavel” from Chairman Wells
to the 2014-15 Society Chairman,
Tony Pruss of Norfolk.
Look for more information about
the annual event on page 6 and on the
Society’s website at www.nescpa.org.
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7
By Thomas G. Stephens, Jr., CPA,
CITP, CGMA
Many have written and reported about
Cloud security – or the lack thereof – causing numerous business professionals to express concerns about whether they can store
potentially sensitive data in Cloud-based
facilities over which they have little, if any,
control. However, by taking just a few simple measures and by exercising a bit of
common sense, most professionals can likely reduce the risk associated with storing
data in the Cloud to a reasonably acceptable
level. In fact, in many cases, you may find
that the risk associated with storing data in
the Cloud is actually less than storing data
locally – particularly so for smaller businesses.
Know Your Cloud
Prior to contracting with a Cloud service provider or storing your data in the
Cloud, perform your “due diligence” on the
companies with whom you are entrusting
your data. You should ensure that these
organizations recognize and practice appropriate data management and security principles. One of the approaches you can take to
confirm that a company exercises best practices relative to data management and security is to determine if the company has undergone an SSAE 16 audit and, if so, what
type – SOC 1, SOC 2, or SOC 3. Additionally, you should determine whether the audit
was performed at a specific point in time – a
Type 1 report – or whether tests were conducted over a period of time (at least six
months) – a Type 2 report. Other industry
certifications you potentially should inquire
about include ISAE 3402, ISO 27001, and
FISMA.
If your company is subject to specific
industry regulations – HIPAA, for example
– you must ensure that your Cloud service
provider is aware of the regulations specific
to your industry and is already capable of
satisfying them. You should take all
measures necessary to thoroughly vet your
potential Cloud service providers and determine if any of their offerings are not compliant with the relevant regulations in your
industry.
Strong Authentication
A strong first line of defense can go a
long way to protecting data stored in the
Cloud. Thus, you should use strong authentication measures whenever you login to
your Cloud service providers. If your Cloud
service provider offers it, you should use
multifactor authentication. Multifactor authentication involves logging in to a service
using “something you know, plus something
you have.” For example, you might login to
your Cloud service provider with a
username and password combination –
something you know – in combination with
a code generated by a key fob – something
you have.
If your Cloud service providers do not
offer multifactor authentication, then ensure
that you are using a “long and strong” password to login and that you use a separate
password for each Cloud service provider.
According to the experts at The SANS Institute, your passwords should be at least fifteen characters in length and contain at least
three of the following five types of charac-
ters: 1) lower case characters, 2) upper case
characters, 3) numbers, 4) punctuation, and
5) special characters such as asterisks, ampersands, and percent symbols.
Data Encryption
You should store sensitive data only
with Cloud service providers that encrypt
the data while it is in transit between your
computer and the Cloud-based storage facility and while it is stored in the Cloud-based
storage facility. Further, you should choose
Cloud service providers that allow you to
maintain control of the encryption key. With
your data encrypted using a strong encryption algorithm, it is all but impossible for
someone who hacks into your account at
your Cloud service provider to decipher,
and therefore view or use, your data. Further, because you maintain control of the
encryption key, no rogue employees of your
Cloud service provider can see your data.
Virtually all reputable Cloud service
providers utilize redundant storage facilities,
Continued on Page 10
In Memoriam
LeAnn Kelberg
Omaha, Nebraska
1954-2014
Nebraska Certificate #3430
Society Certificate #5561
Open, Fun Discussion . . . The discussion was free flowing and at times humorous as the Society’s
Board of Directors met at Mahoney State Park on August 22, 2014, for its annual Board Retreat. In the right
picture, Tom Hilton, a Partner and Director of Forensic and Valuation Services, with Anders CPAs & Advisors in St. Louis, MO (right) has a good laugh with Nebraska’s Elected Member of the AICPA Council, John
Fruhwirth of Omaha, during Hilton’s two-hour presentation regarding AICPA and CPA professional issues.
Hilton is a member of the AICPA’s Board of Directors. On the left, current and future Board members join in
the discussions with Hilton during the “roundtable discussion” portion of the Retreat.
8
Society Awards
Nomination Form
Each year, the Nebraska Society of CPAs accepts the nomination of members for special
awards: the Public Service Award, the Distinguished Service to the Profession Award, the Outstanding Accounting Educator Award, and the Outstanding CPA in Business and Industry
Award.
Provided below are the criteria for each award. The deadline for nominations is October 31,
2014.
The four award recipients will be selected by a special ad hoc committee and approved by the
Society's Board of Directors. They will be recognized during the Society's Annual Meeting in the Fall. In
addition, the Society's Foundation will present a scholarship in the name of each recipient to an accounting
student attending a Nebraska college or university of the recipient's choice.
Public Service Award
The purpose of the Public Service Award is to recognize Nebraska
CPAs who have performed outstanding public service in their communities.
To be eligible for the Public Service Award, the nominee must be a CPA, be a
member of the Nebraska Society of CPAs, and be in good standing with the
profession. Some examples of public service that the selection committee will
consider are the following:
 Participation in community, charitable, or other civic activities on an ongoing basis;
 Participation in and responsibility for a public service project which had a
significant impact on the community;
 Service in a notable volunteer capacity in government at the local, state or
national level; or
 Other volunteer service to individuals or organizations.
Outstanding Accounting Educator Award
The purpose of the Outstanding Accounting Educator Award is to
recognize full-time Nebraska accounting educators for excellence in accounting education. To be eligible for this award, the nominee must be a CPA, be a
member of the Nebraska Society, be a full-time accounting educator at a
college or university, and be in good standing with the profession. The selection committee will consider the nominee’s accomplishments in the following
areas:
 Excellence in classroom teaching, including endorsements from students,
alumni and/or colleagues;
 Contributions to accounting education, including professional involvement,
educational innovations and publications;
 Service to the Nebraska Society, such as serving as an officer, member of
the Board of Directors, committee member, legislative key person, or CPE
discussion leader; or
 Service to other organizations which contribute to the overall strength of
the accounting profession.
Distinguished Service to the Profession Award
The purpose of the Distinguished Service to the Profession Award is
to recognize Nebraska CPAs who have demonstrated during their career a
commitment to the accounting profession locally, nationally or internationally.
To be eligible for this award, the nominee must be a CPA, be a member of the
Nebraska Society, and be in good standing with the profession. The selection
committee will consider accomplishments in the following areas:
 Service to the Nebraska Society, such as serving as a Board member,
committee member, legislative key person, or CPE discussion leader;
 Service to the American Institute of Certified Public Accountants, such as
serving as a member of council, committee member, or speaker;
 Service to the Nebraska State Board of Public Accountancy, such as serving as a Board member or task force member; or
 Service to other organizations which contribute to the overall strength of the
accounting profession.
Outstanding CPA in Business and Industry Award
The purpose of the Outstanding CPA in Business and Industry Award
is to honor Nebraska CPAs who have made a significant contribution to the
growth and success of their employers or who have made a notable entrepreneurial achievement. In addition, the award recognizes those CPAs working in
business, industry or government who have distinguished themselves by having
made a significant contribution to the enhancement of the accounting profession.
To be eligible for the Outstanding CPA in Business and Industry Award, the nominee must be a CPA employed in business, industry or government and a current
or former member of the Nebraska Society of CPAs. The selection committee will
consider the nominee's involvement in the following areas:
 Significant contributions to the growth and success of his or her employer;
 Notable entrepreneurial achievement; or
 Service to organizations at the local, state and national level which contribute to the overall strength of the accounting profession.
Nebraska Society of Certified Public Accountants
Application for Award Nomination
I nominate the following Nebraska Society member as a candidate for:

The Public Service Award

The Outstanding Accounting Educator Award


The Distinguished Service to the Profession Award
The Outstanding CPA in Business and Industry Award
Name of Candidate _______________________________________________________________________________________
Address ________________________________________________________________________________________________
City ___________________________________ State ________ Zip ______________ Phone ____________________________
NominaƟon SubmiƩed By ________________________________________________ Phone ____________________________
DEADLINE FOR NOMINATIONS IS OCTOBER 31, 2014.
Mail to: Nebraska Society of CPAs, 635 South 14th Street, Suite 330, Lincoln, NE 68508 Email to: [email protected]
Thank you for your nomination. You will be contacted in the near future regarding additional information we may need regarding this nomination.
9
SECURITY DATA . . .
From Page 8
making it highly improbable for data to be
permanently lost in the event of a system or
hardware failure. Nonetheless, you should
become thoroughly familiar with the procedure for recovering your data from your
Cloud provider, just in case a situation arises
where you no longer want your data stored
there. Further, periodically you should go
through the process of retrieving a copy of
your data from the Cloud provider. This
helps to ensure that, should you ever need to
do so, you would be able to retrieve your
data in the event of some type of emergency.
Educate Team
Perhaps above all else, educate your
team about the absolute business requirement for securing sensitive data. First, your
team should understand the risks associated
with local data storage; for example, team
members should recognize the dangers of
copying data to unencrypted flash drives or
external hard disks and the dangers associated with sending confidential information in
unsecured email messages. Additionally,
relative to Cloud security, you should ensure
that your team recognizes the threats associated with the current Bring Your Own Device (BYOD) and Bring Your Own Cloud
(BYOC) phenomena. In fact, you likely
should implement policies that clearly spell
out what each team member’s responsibilities are in a BYOD scenario. Similar policies should be in place to prohibit team
members from storing organizational data in
their own personal Cloud-based storage
facility.
Our data is one of our most important
assets and because of this, we must exercise
due professional care to ensure its continual
availability to all who need access to it. If
we choose to store data in the Cloud, the
fact that we generally will not have direct
control over the physical storage facilities
presents a different set of challenges than if
we store data locally. However, by dealing
with reputable vendors, using strong authentication measures, insisting on data encryption, retrieving data from the Cloud periodically, and educating our team members on
the importance of data security, we can
greatly increase the probability that our data
will remain safe and secure.
Tommy Stephens is a shareholder at K2
Enterprises. You may contact Tommy at
[email protected].
OPPORTUNITIES AVAILABLE
Southwest Nebraska CPA firm
looking to hire a staff accountant
with 2 plus years experience - CPA
preferred. Ideal candidate must have
a strong background in tax preparation and planning for individual and
business clients with a firm understanding of agriculture and small
business. Compensation based on
experience and ownership potential
is a possibility. Please respond to:
NE Society of CPAs, Trudy Meyer,
File #091674, 635 S. 14th St., Suite
330, Lincoln, NE 68508.
PAGES 5, 10, 11 & 12
THINKING OF SELLING YOUR
PRACTICE? Accounting Practice
Sales is the leading marketer of accounting and tax practices in North
America. We have a large pool of
buyers, both individuals and firms,
looking for practices now. We also
have the experience to help you find
the right fit for your firm and negotiate the best price and terms. To
learn more about our risk-free and
confidential services, call Trent
Holmes at 1-800-397-0249 or email
[email protected].
Selling WHY
YourWE’RE
Practice?
DIFFERENT.
Start selling right now.
Unparalleled resources. Marketing superiority. Ready to Start Now.
We are North America’s largest marketer of accounting and tax practices because we understand the value
of your firm, know how to advertise it and have thousands of buyers who want a practice. Therefore our
brokers, with proven success in the industry, can bring this marketing and resource advantage to your own
unique situation. We are different because we can produce the best results for YOU.
Give us a call today so that we can start working to remove your selling headache and to obtain the goal you desire.
10
The Holmes Group
4225 Fleur Dr. Ste. 128
Des Moines, IA 50321-2325
Toll-Free 1.800.397.0249
[email protected]
Wealth Advisor
Experience:
CPA with 5 or more years of direct
individual tax preparation experience.
CFP or candidate who has demonstrated a financial planning desire and
aptitude.
Responsibilities & Activities:
Develops, services, and delivers
financial planning to their own list
of clients.
Assist in research and becomes a
team member of the firm’s investment committee.
Prepare tax returns for clients of the
investment firm.
Consults with clients on financial
planning matters.
Assist with client events.
Opportunity:
Fast growing Registered Investment
Advisory Business with a mid 50’s
owner implementing a succession
plan.
Base Pay that will be in-line with
market opportunities based on experience and skill-set, plus a bonus
system for recruiting and managing
client accounts.
Fast track to ownership for the right
candidate that can demonstrate the
ability to service clients well and
gains the trust of the current firm
owner.
We have strong processes in place
with loyal, efficient and exceptional
operational staff. We have a proven investment and planning process,
and are focused on regulatory compliance.
Through common ownership with
the owner’s CPA firm, we have a
steady flow of leads and opportunities.
Interpersonal Skills:
Polished, Poised and Confident.
Excellent interpersonal skills
Excellent attitude and an extraordinary client service orientation.
A genuine interest in serving and
caring for others
Excellent organizational and time
management skills.
A desire to succeed.
Ability to multi-task and handle
stress.
Please send resume to Ron Dickinson
at [email protected].
OPPORTUNITIES AVAILABLE
PAGES 5, 10, 11 & 12
Director of Finance—Nebraska
United Methodist Foundation
TAX PROFESSIONAL
LWBJ, LLP, a r apidly gr owing
regional CPA/business advisory
firm, is seeking tax professionals
with 3-5 years’ experience for our
West Des Moines location. CPA
designation or candidate required.
Experience working with large corporations and partnerships with
multi-state operations desired.
Strong research and communication
skills also required. Unlimited career advancement potential for the
right person. Salary commensurate
with related experience. Complete
benefit package including medical,
dental, vision, 401(k), life insurance, long-term disability. Please be
advised that LWBJ performs background checks on all applicants.
Please mail/fax/email your resume
to Controller, LWBJ, LLP, 4200
University Ave, Ste 410, West Des
Moines, IA 50266, Fax (515) 2225681, [email protected].
The Nebraska United Methodist
Foundation is seeking a Director of
Finance who understands the challenges and need for flexibility in a
small not-for-profit environment.
Attractive salary and benefit allowance. 30 hours per week at a Lincoln location. Ideal applicant should
have 5 years non-profit accounting
(QuickBooks and Excel preferred)
with a Bachelor’s degree in Accounting or extensive experience in
the field. Strong analytical, communication, organizational and research
skills and the ability to interact professionally with staff and the Board
of Directors. Must have project management skills, verbal and written
skills to articulate complex financial
information.
Interested applicants should forward
their resume, references and salary
requirements to [email protected].
Deadline for consideration is December 15, 2014 and interviews will
begin the week of January 5, 2015.
Forensic Accounting Investigations
Aren’t Just for Lawyers
Accountants can benefit from them too.
Cody F. Carse, CPA
Certified Fraud Examiner
Certified in Financial Forensics
•
•
•
•
•
•
•
•
Asset discovery / recovery
Contract disputes
Expert witness and consultant
Fraud examinations
Landlord / Tennant disputes
Purchase or sale of a business
Shareholder / Partner disputes
Suspected theft by employees or others
402-201-6427
[email protected]
www.CodyFCarseCPA.com
11
OPPORTUNITIES AVAILABLE
PAGES 5, 10, 11 & 12
PRSRT STD
US POSTAGE
PAID
CORNERSTONE
Nebraska Society of CPAs
635 South 14th Street, Suite 330
Lincoln, Nebraska 68508
Assistant Controller
This position is responsible for timely receipt of required billing documentation, submission of billing
reports for payment, reconciliation
of payments, and creating reports to
ensure all services provided are
properly billed.
Supervises the billing, accounts receivable, accounts payable and payroll functions.
Utilize analytical skills for various
process improvement projects and
cost analysis projects.
Utilize Excel and the Portal database
to support financial statements.
Assist in the preparation of annual
budgets and actual to budget performance.
Track bill payments, issue customized billing reports, direct billing,
review revenue and payments by
each client.
Maintain timely billing and adjustment submissions by communicating with government agencies
and internal staff.
Assist developing revenue and AR
aging reports from the Portal database or other data sources.
Assist with the design and testing of
new software and/or modifications
to existing software.
Prepare and analyze profit and loss
statements for each profit center.
Knowledge, Skills and Abilities:
Knowledge of Microsoft Office
Products, including Access.
Strong Team Player
Must be accurate, organized, and
detail-oriented.
Credentials and Experience:
Bachelor’s Degree in Accounting
(Finance) required.
Five years of accounting experience,
Assistant Controller experience a
plus.
A minimum of 1 year of supervisory
experience.
Please send resume and contact to:
Better Living Counseling Services, Inc
7100 S. 29th Street, Suite B
Lincoln, NE 68516
Or email to:
[email protected].
12
Do Your Clients Need
Low-Cost Incorporation Services?
Attorney Prepared—Prompt and Affordable
Filing Fees and Costs Included
NE or IA, standard organizations:
Incorporation
$449.00
Nonprofit Corporation
$449.00
Limited Liability Company
Professional Corporation
$499.00
$549.00
(Nebraska Only)
Additional States Available—Call for Pricing
7602 Pacific Street, Suite 200
Omaha, NE 68114
Phone 402-391-2400
www.whitmorelaw.com
Senior Manager
Omaha CPA firm is seeking a Senior
or Senior Manager to assume responsibilities of a retirement minded Partner. We are looking for a CPA who is
seeking immediate client contact and
responsibilities; there is the potential
for ownership in a short period of
time to the right candidate. We are
looking for an individual with public
accounting experience in income tax
preparation and planning. Full benefit
package, West Omaha location with
no overnight travel. If you are interested, please send your resume to Jim
Reinig at [email protected] or fax to
402-330-7099.
Fax:402-391-0343
email:[email protected]
Practice Acquisitions Sought
McDermott & Miller, P.C., is interested in acquiring or merging in a
qualifying CPA firm(s) along the I80 corridor from Omaha to
Kearney, Nebraska. Particularly we
are looking at firms within a 50 mile
radius of I-80 that would specially
include such cities as Omaha, Lincoln, York, Grand Island, Hastings,
and Kearney among others.
If your firm is interested in discussing this opportunity, please contact
Norm Saale at 308-382-7850 or
[email protected]. Serious inquiries only.