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December 2015 Article Archives

Extravagant CPA Tech Gifts

Published on December 22, 2015 by Roman Kepczyk, CPA.CITP, CGMA, LSS BB, AAAPM, Xcen

Thanksgiving and leftovers are done and the countdown to Christmas and the gift giving season is on. If you have a big budget for that favorite CPA (or are patient enough to wait for the post holiday sales), we have a few ideas on how it can be spent!  Whether in the office, at home or on the road below are a handful of ideas that will raise everyone’s eyebrows and show that special CPA that you really care!

Microsoft Surface Hub: Need to upgrade the projector in you conference room?  How about doing so with a huge tablet that is wall mounted and integrates the best of PC, tablet, and smartboard technology with video conferencing for optimum team collaboration. Microsoft’s top of the line Surface Hub is an 84” 4K (3840x2140) LCD touchscreen that integrates a Core i7 processor, 8GB RAM, 128SSD, running Windows 10.  A steal for just under $19,600!


Mark Your Calendar for the Last Week of June 2016

Published on December 22, 2015

Join us at the 2016 CPA Firm Management Association’s National Practice Management Conference, formerly the Association for Accounting Administration’s National Practice Management Conference.

The 2016 conference will help you define a clear path for the future by providing you the latest learning, tools and technological information to keep you and your firm on the cutting edge. Gain knowledge on the most current business management and practice management topics. Explore the emerging technologies, and how the dramatic shift towards mobile and cloud-based solutions have changed the way business is being conducted. Uncover new marketing and business development techniques that can help you better focus on where you want to go, and how you are going to get there.


2015 CPAFMA Technology Fly-In Recap

Published on December 22, 2015 by Roman Kepczyk, CPA.CITP, CGMA, LSS BB, AAAPM, Xcen

CPAFMA concluded the 2015 Technology Fly-In on November 11, 2015 presented by industry leaders with a focus on CPA Firm Technology Best Practices, Network Infrastructure, and Security Best Practices.  CPAFMA Advisory Board Member Roman H. Kepczyk presented “CPA Trends: Strategic IT Response” and the “CPA Digital EcoSystem”, Security Expert Eric McMillen presented "Your Security Response,” and Xcentric COO Christian James presented an update on today’s “IT Infrastructure/Data Center.”  Below we have summarized the highlights from each program designed specifically for accounting firms.


CPAFMA Helps Its Members to Manage Cybersecurity

Published on December 22, 2015

New Program Makes It Easier For Accounting Firms To Hone Their Cybersecurity Skills

CPAFMA has announced a partnership with cybersecurity expert Neal O’Farrell, founder of security education company Privide, to provide comprehensive cybersecurity education to its members throughout North America. With growing concerns that accounting and financial advisory firms are being actively targeted by hackers in search of client data, there’s never been a greater urgency to ensure accountants and their staff are aware of the risks, how to minimize them, and how to respond.

With an estimated 1,000 reported data breaches in the U.S. in 2014 alone, or nearly three every 24 hours, nearly a billion personal records were stolen by hackers. It’s only a matter of time before every firm finds itself a target.


CPAFMA 2016 Technology Survey

Published on December 22, 2015

Launching this week, the CPAFMA has expanded its traditional SaaS Survey to identify the Information Technology utilized by member firms and the IT trends impacting our size practices. The survey results will be utilized by the CPAFMA leadership and staff to target future MAPCast and article topics, areas to help you improve your practice and to share with our future members.  The survey takes less than 20 minutes to complete and those completing will be provided an early release of the results by providing their email address.  The survey will close on January 29, 2016.


CPAFMA - The New Normal

Published on December 22, 2015 by Kim Fantaci, President, CPAFMA

Have you caught yourself saying, TripleA?  Your Association staff has done it more times than we’d like to admit but with each day, CPAFMA is rolling off the tongue more easily. The profession has embraced the change and while we still see references to “AAA”, we are seeing more and more shades of green.  We seem to be reaching more individuals from our member firms and the buzz is that our mission and vision are working better with our new name and focus.  In October we held a tagline contest to test the creativity of our members and to discover the value of a tagline.  We were trying to identify a simple message that when implemented would reinforce our vision. We found it - Leading CPA Firms Forward. Congratulations to the members who submitted entries to the contest. They were all inspiring and conveyed what is most important to our audience of members, accounting professionals and affiliate service providers.


Proposed DOL Amendments

Published on December 22, 2015 by Bob Biddle, AAAPM, Bowman & Company, LLP, Voorhees

All members should be cognizant of Proposed Department of Labor (DOL) Amendments as they relate to compensation for exempt employees.  Currently, the minimum salary requirements to meet the definition of exempt employees for executive, administrative and professional (EAP) is (and has been since 2004) $23,660.  On July 6, 2015, the DOL proposed increasing that amount to $50,440.  While the proposed increase has NOT been approved as of the writing of this article, it is anticipated that it will go into effect sometime in 2016.  This dollar threshold is scheduled to be indexed each year.  The impact is that if you have any EAP making less than the threshold (the anticipated $50,440) they must be time and a half for any overtime.  Please continue to monitor this development and consult with your legal counsel for specific advice.

CPAFMA will be hosting a MAPCast on January 21, 2016 with a representative of the AICPA and an attorney to discuss the proposed amendments and what the changes would mean to CPA firms.

What's in a Name?

Published on December 22, 2015 by Jim Fahey, AAAPM, CPAFMA Chair

It’s not often I quote Shakespeare, but here it goes:

“What’s in a name?  That which we call a rose.  By any other name would smell as sweet.”

Here, Juliet is telling Romeo that a name is an artificial and meaningless convention.  This one line shows the central struggle of the play Romeo and Juliet, and is one of Shakespeare’s most famous quotes.  I’m using it to illustrate that while our organization’s name has changed from AAA to CPAFMA, we are the same at heart – always working to be better than we are.