Tag: AICPA

The AICPA’s Leadership Academy Doesn’t Sound So Awful After All

First, I never implied the AICPA Leadership Academy was awful in the first place, I just to make sure we’re clear on that. I only use “awful” because you lot seem like the sort of people who mostly care about money and fulfillment, with neither of those necessarily mutually exclusive. It’s totally fine, we can’t all be leaders.

But one day, you kids are going to inherit the empire (scary, I know). When all the Boomer partners have retired and you’re looking at filing 2025’s tax returns, will you be at the top of the food chain setting the tone or still lingering at the bottom picking up DUIs on Saturday nights? Just think athe following is an account of the AICPA’s recent Leadership Academy in North Carolina by Joshua Partlow. Joshua is a CPA under 40 and a partner at Johnson Lambert & Co. LLP. I share it with you guys only because it’s pretty interesting, which can’t usually be said for a lot of the pro-industry fluff we come across.

Last week, I had the pleasure of attending the AICPA’s Leadership Academy—as a member of its third class—in Durham, NC. I was among 33 participants under the age of 36. The Academy started off like many seminars do in this mobile age, with participants glued to our smartphones and somewhat disconnected from our surroundings. But that disconnection would be short-lived.

The mood transitioned quickly to one of collaboration and engagement as the instructors—Gretchen Pisano, president Sounding Board Ink, LLC, Tom Hood, CPA, executive director and CEO of the Maryland Association of CPAs and Jeannie Patton, AICPA vice president – students, academics & membership—began the Insight to Action process. We broke up into three groups to tackle three challenging real-life scenarios in business, non-profit and personal relationships. These tasks forced us to focus on the strengths of our characters, utilizing the i2A Strength Based Leadership program that we had been introduced to during our preconference workshops. The program coaches participants for leadership, teaching them self-awareness techniques, how to work from a source of natural strength and how to inspire their team to do the same.

My breakout group was tasked with the personal relationship scenario, helping a large, multi-generational family plan an annual vacation. What we learned was classic succession planning: the matriarch and patriarch of the fictional family had always taken the lead on making flight and destination arrangements and planning day-to-day activities. However, with a new dynamic involving grandchildren and in-laws, it was time for their adult children to step up and take the reins. It was a situation we could all relate to. The combination of strategic thought and the high quality of each and every participant’s contribution was amazing.

Strategic planning within the i2A model allowed us to interact, learn from one another and see, in a creative way, how our scenarios directly reflect what many of us are facing in our careers. We are all roughly the same age and coming into our time as leaders in our firms or organizations. Now, it’s not so much about building accounting experience and achievement (although that certainly plays a role). It’s more about finding within ourselves the courage and ability to mentor, guide and inspire. The experience opened my eyes to think differently—to think like a leader.

Why am I not surprised to see Tom Hood’s name show up?

Anyway, it’s too late to get on board for 2011 but if any of this sounds remotely interesting to you (hint: “leadership” = “getting people to do your evil bidding”), details on the 2012 Leadership Academy will be issued by the AICPA in January.

Is It Possible To Get a Harder Set of CPA Exam Questions In Different States?

Oh, the things CPA exam candidates come up with when they should be studying.

This winner of a question comes courtesy the CPAnet forums:

It may sound stupid but I wanna ask….. Is there any particular State where you get relatively easier exam and score good marks?

I’m asking this question because somebody told me that you get most difficult exam in California so I was thinking the other way round!

The asker recognizes the ridiculousness of this question immediately so I’ll resist making any comments on that and slide right into the point of this post. Is it at all possible that candidates in certain states get more difficult exams?

I’m going to have to say highly doubtful. There’s no reason that would make sense, as the “Uniform CPA Examination” implies exactly that, uniformity. While we all know different states have different requirements for licensure based on the determinations of the individual state boards of accountancy, the AICPA administers the exam across the jurisdictions. It is presumed that candidates are assigned questions at random from a single database and I have never read, heard or seen anything that tells me otherwise. Logically, I can’t see a reason for this, and we should safely assume that the AICPA will not do anything that might be an unnecessary burden on the already precarious process of administering the exam.

And even if this were true, wouldn’t California be the easiest? They have some of the most lenient requirements to sit for the exam of all the jurisdictions and boast a longer NTS than other states (because who wants to get off the beach and go to Prometric?), surely they would also have easier questions.

What is the takeaway from this, kids? Don’t listen to what your friends told you about the exam.

This Just In, the AICPA Has a New Online CPE Program For You

Try not to piss yourselves with excitement, kids.

Time-strapped accountants who need to brush up on a subject area or meet continuing professional education (CPE) requirements have a new, cost-effective option: targeted study programs through CPExpress, an online learning library offered by the American Institute of Certified Public Accountants.

For CPAs who want to concentrate on specific areas of expertise, CPExpress now offers four specialty libraries: Accounting & Auditing, Business & Industry, Governmental and Not-for-Profit, and Taxation.

These collections—which range from 65 to 175 online courses–are priced at a lower rate than the overall CPExpress library. Topics range from accounting updates to tax planning strategies and fraud detection.

Like the rest of CPExpress, the specialty libraries contain titles put together by leading authorities in the profession. Courses typically last one to two hours, yield up to two CPE credits, and are available round-the-clock for subscribers with Internet access.

CPExpress, which now includes more than 900 online courses, serves as a perfect tool for filling in knowledge gaps and rounding out professional education requirements. And all titles are now viewable on an iPad, giving CPAs even more freedom to burnish skills on their own schedule.

“CPExpress provides great value and convenience for members who need real-time technical information, or those who simply are looking to expand their skills and knowledge,” said Mike Ramos, director of CPE and training for AICPA. “With these new offerings we are hoping to introduce the benefits of CPExpress to those with more specialized knowledge and training needs.”

Discount pricing is available for AICPA members on both CPExpress and the specialty libraries. For more information, visit www.cpa2biz.com/cpexpress.

How Do Big 4 Exiles Get Their CPE?

File this one under first world problems.

Hello,

I’m starting to think about post-Big 4 opportunities and I am wondering how people maintain their CPE credits after leaving the Big 4. Since we need to take 80 hours of CPE credits every 2 years to maintain a CPA, do most employers offer trainings that give CPE credits? If not, will they give you time off and pay for the classes? I’d be very interested in hearing from you, and from the Going Concern community.


Well considering so many of the country’s employable CPAs somehow manage to meet their board of accountancy’s CPE requirements year after year, there’s got to be a trick to stay current that doesn’t involve firms forking out the cash for “experts” to school their staff on all things billable to the CPE time code. Are you telling me you have somehow escaped the wrath of NASBA and don’t get emailed weekly with new CPE offers? Congratulations.

I spoke to one of my favorite HR people at a reasonably-sized but definitely not Big 4 firm to find out what their CPE policy is and found out that most firms above 50 people pay for CPE in one way or another. According to a national survey conducted by the AICPA and the Texas Society of CPAs, 42 percent of the smallest firms paid for CPE in 2010. So unless you end up working out of some ancient CPA’s basement, you will probably not be expected to pay your own way.

Obviously, smaller firms will not be able to provide in-house CPE but you can likely get your online CPE comped, or get reimbursed for any travel associated with in-person CPE you attend. But seriously?! In-person CPE? Get with the times, man.

If you do end up needing to pay your own way (again, totally unlikely as long as you stay gainfully employed by a real accounting firm, even a tiny one), your state society of CPAs can probably provide information on their CPE offerings, or there is always NASBA (as anyone on their email list will tell you) or the AICPA.

Remember too that if you are attending conferences like AICPA Council, you get CPE for doing so, so maybe those dumb meetings aren’t so pointless after all.

Would Anyone Actually Download This AICPA App?

That’s a serious question.

I’ve been to events with lots of accountants huddled up in a room showing off their technology so I am not implying that CPAs don’t care about apps, I’m just wondering if anyone would download an app dedicated to a particular AICPA conference.

CrowdCompass released the AICPA Not-For-Profit Financial Executive Forum app on October 15th and as far as I can tell, no one cares about it.


The description reads as follows:

Between the slowed-down economy and a more stringent regulatory environment, the last few years have led to a “new normal.” Gaining lost momentum and getting back on track with smart new strategies and practical solutions are necessary for success.

This AICPA Not-for-Profit Financial Executive Forum is the solutions-based conference that features top experts and is designed specifically to address these issues and provide the answers for your financial, technical and structural operations. You’ll come away with valuable insights and tools to take back to your organization and implement immediately.

The 2011 NFP FEF (if that isn’t a mouthful…) sounds like a great time for anyone actually interested in non-profits (my unofficial research shows there are about 7 of you). Not-for-profit financial executive staff members, CEOs, CFOs/executive directors and directors of finance in NFP could probably learn a lot and enrich the very core of their work by hanging around at one of these forums. Hey, you can even check in on foursquare from the conference. But the Android app? I’m not sure I see the benefit there.

Does an app make navigating the conference any easier? You still have to remember the name of the person you met three hours ago who you’re being introduced to again and no app can help you with that. It’s not like there are several square miles of territory to navigate as you’re cruising the conference circuit, so is it necessary to have your exact position on the map? Maybe I’m just an old BlackBerry user who doesn’t get it.

Anyway, the conference is from October 27-28, 2011 at the Westin in my former hometown of San Francisco, CA so it isn’t too late for you to register and fly out there to the Land of Fruits and Nuts for some non-profity goodness.

If anyone actually downloads and uses this app, can you please get in touch with me? I’m curious to hear what you did with it. Sorry, that’s kind of lazy but the AICPA isn’t going to sell me the email list of anyone who buys the app so this is the best we’ve got.

CPAs Still Have a Leg Up on Computers, Smartphones Says Leader of CPAs

New AICPA Chairman Greg Anton doesn’t want you to worry; you’re all still very useful.

In his acceptance speech, Anton detailed the many ways technology is changing the profession. Automation has transformed the way financial information is collected, processed and presented, but a CPA’s value continues to lie in his or her ability to solve problems and identify opportunities for clients and employers, he said.

“As CPAs, we can decipher, disseminate and manage knowledge,” said AICPA Chairman Greg Anton. “This is what a computer or smartphone cannot do.”

[via AICPA]

The CGMA Is Coming to Accountants Near You, January 31st

If you’ve completely spaced it, the Chartered Global Management Accountant is a new credential that will be jointly offered by the AICPA and the CIMA. We first mentioned it back in the spring and yesterday, JofA informed us that the big coming out party would be January 31. Why the new credential, you ask? Well, mostly because it’s a crazy fucked up world out there, says CIMA CEO Charles Tilly:

“We are in an incredibly challenging world,” Tilley said, citing global economic risks, competitive pressures and demands on natural and other resources. “The world needs management accountants and CGMAs more than ever right now.”

Right! And we can think of at least one operation that is looking for immediate help.

[via JofA]

Line Up For Your Own CPA.com Email Address Now!

We’re getting lots of great news out of the fall meeting of AICPA Governing Council in Phoenix, AZ – some of which includes the CPA exam – but this little interesting tidbit might actually be something some of you might want to get on.

CPA2Biz (an AICPA subsidiary) announced yesterday it will offer a CPA-branded email service for AICPA members beginning later this fall. Eligible AICPA members will be able to get an email in their own name that ends with the coveted cpa.com address, making it a much more professional alternative to those embarrassing Hotmail and Yahoo address some (allegedly) professional CPAs use for business purposes.

So, if Caleb were not merely an inactive CPA but an actual CPA, he’d be able to hook up caleb.newquist@cpa.com. He could then use this for everything from his private practice to his, uh, private practice (you know, like Craigslist or Match or whatever it is he does in his spare time when he’s not hitting on girls in the Whole Foods organic bulgur wheat section). Cool!


The benefits here are obvious. First, CPA is a powerful brand, and being able to identify yourself as such in your email address gives that extra bit of authority that you just don’t get from accountingdude2005@yahoo.com (I made that email address up, sorry if that actually belongs to anyone out there). It also makes your email address easier to remember for clients, who should hopefully know your name and at least know that you’re a CPA, making it easy for them to memorize your CPA-branded email address.

AICPA members can order basic email, or step up to a business-class offering that includes premier security, access and easy-to-use management tools. The product was announced at yesterday’s meeting of fall Council.

“This is going to be of significant value to sole practitioners because a majority of them are using consumer email services to conduct business,” said Erik Asgeirsson, president and CEO of CPA2Biz, the technology subsidiary of AICPA. “Additionally, members of larger firms, as well as those in business and industry, now have the opportunity to own a portable professional email account. Regardless of what firm you work for or which industry you represent, it can serve you throughout your career.”

Pricing and service details will be announced in coming weeks. The offering will be the first of many to be featured on CPA.com, the new firm services solutions hub for CPA2Biz.