September 2013

Official Publication of the Nebraska Society of CPAs

Join us October 30 & 31, 2013

for the Nebraska Society of CPAs’

Fall CPE Conference & Annual Meeting

Register Online or Check Pages 6 & 7

Location

Embassy Suites Omaha-LaVista

12520 Westport Parkway LaVista, Nebraska

The Society’s Nominating Committee, as appointed by the Board of Directors, has an-nounced the Officer and Board nominees for the 2013-2014 Society year.

Meeting on July 17, 2013, the Committee voted to nominate for recommendation to the general membership at the Society’s An-nual Meeting in LaVista on Octo-ber 30, 2013, the following lead-ership slate Daniel L. Wells of Omaha Chairman, (previously elected); Chairman-Elect: An-thony J. Pruss III of Norfolk, Shari A. Munro of Omaha, three-year term on the Board of Directors and Sheila A. Brugger of York, three-year term on the Board of Directors.

Serving on the Nominating Committee were Immediate Past Chairman Julie Bauman of Falls City, who served as committee chairman, Chairman-Elect Wells, Board Chairman Patrick Lavelle, Chris Lindner of Lincoln, Don Klu-the of Omaha and Munro.

The actions were taken by the Committee to meet the re-quirements in Article III, Section 2, of the Society Bylaws which state: Nominations for directors and officers shall be made by a com-mittee of not less than three members of the Society, ap-pointed by the Chairman of the

Con nued on Page 4

2013-2014 SOCIETY LEADERSHIP SLATE ANNOUNCED

FOR CHAIRMAN DANIEL L. WELLS

FOR DIRECTOR SHARI A. MUNRO

FOR DIRECTOR SHEILA A. BRUGGER

FOR CHAIRMAN-ELECT ANTHONY J. PRUSS, III

Board and approved by the Board of Directors. The Board of Directors shall establish proce-dures to be followed by the Nomi-nating Committee. The names of such nominees shall be pub-lished to all members, by the Secretary, not less than twenty days prior to the date of election. Thereafter, additional nomina-tions may be made by the petition of any ten or more members of the Society, signed by them, and delivered to the Secretary not less than five days preceding such election.

Society Secretary Jamie Johnson of Lincoln therefore publishes the following Society leadership slate for the 2013-2014 Society year: FOR CHAIRMAN (Previously Elected): Daniel L. Wells is the President and owner of Diesel Power Equip-ment Company in Omaha. He

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What are the biggest concerns affecting firms like your own across the country? results of the american institute of cPas’ 2013 cPa Firm top issues survey, sponsored by the Private compa-nies Practice section (PcPs), pro-vide the answers. this year, the survey found that greater eco-nomic stability has prompted prac-titioners to take a longer-term, more strategic view of the most important challenges facing their firms. Bringing in new clients was cited as an issue by firms of all sizes, and all but the smallest firms were concentrating on find-ing qualified talent.

“the 2013 survey results paint a picture of firms that are poised for future growth,” said Mark Koziel, cPa, cgMa, the aicPa’s vice president of Firm services and global alliances. “Practitioners are reassessing where they stand after the reces-

ISSUES THAT KEEP CPAS UP AT NIGHT sion and preparing for renewed demand.”

using the survey results as a benchmark, cPas can test their own experiences against those of others and make strategic plan-ning decisions accordingly. “the PcPs cPa Firm top issues sur-vey results present a valuable re-source for firms. they help mem-ber firms of various sizes, who are focused on growth, track the is-sues facing peer and larger firms and anticipate future challenges,” said aicPa officials.

Top Challenges by Firm Size the PcPs cPa Firm top is-

sues survey is conducted bienni-ally with results categorized by firm size. While each size grouping has a unique list of top five issues, common elements provide snap-shots of general trends.

client retention, for example, was a significant concern for firms in the 2009 survey, during the

midst of the economic downturn. again, client retention was consis-tently cited across all firm sizes in 2011, but was not among the top five issues for all firm groups this year; it ranked fourth and fifth, re-spectively, among sole practitio-ners and firms with 11-20 profes-sionals. in the meantime, succes-sion, which only the largest firms chose as a top issue in 2011, has also now become a challenge for nearly all firm segments.

to view all the top issues lists for 2013, visit: aicpa.org/pcps.

What the Results Mean some of the key takeaways

from the survey include: Firms have put the economic

crisis behind them. not only did client retention move out of the top five issues for firms with 2-5, 6-10 and 21+ professionals this year, but fee pressure/pricing and client collections, which were concerns

Continued on Page 5 

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A FEW REMINDERS FOR CPE REGISTRANTS . . . “cPe registrations this year are coming in later than prior years

and we’ve had an increase in late cancellations,” according to Vice President, sheila Hoadley. this is causing some concerns among us all.

Benefits of registering early benefits everyone. it prevents a $35 late fee. it helps in planning the success of the course - keeping travel

costs for discussion leaders as low as possible and helps in getting the correct amount of classroom space.

it guarantees each participant has a book and prevents exces-sive printing.

Cancelling Early. the policy currently reads: Cancellations received in the Nebraska

Society office five (5) working days prior to the course presentation date will receive a full refund. A $35 cancellation fee will be deducted from the full refund for those canceling two (2) to four (4) working days prior to the course presentation date. Except in special circumstances, no refunds will be granted those attempting to cancel registrations less than two (2) full working days prior to the course presentation date. The “special circumstances” that we usually accept are a per-sonal illness or injury of the registrant or a death or serious illness in the registrant’s family. In those cases we require a written explanation and usually will grant a refund or a transfer of the registration fee to another course.

We try to be as helpful as possible, but we hope the membership realizes that we must pay most discussion leaders’ firms a guaranteed number for attendees, order course materials in advance and must also give the host facility a food and drink guarantee at least 48 hours before the course presentation date. it is hard to keep our cPe courses cost-effective if we are incurring expenses for registrants who cancel at the last minute and expect a refund.

We want to assure you that our cPe program continues to be strong and very successful. However, please keep in mind the cancellation Policy and the scheduling and planning requirements that the society staff must work with. to-gether we can keep our cPe costs under control and continue our years of offering affordable, outstanding cPe courses to nebraska cPas!! We appreciate your consideration of this request.

Dan Vodvarka, President, and Sheila Hoadley, Vice President

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 dead-line 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 society@nescpa.org www.nescpa.org

OFFICERS

Patrick J. Lavelle, Chairman Daniel L. Wells, Chairman-Elect

Michelle R. Thornburg, Treasurer Jamie L. Johnson, Secretary

Julie D. Bauman, Immediate Past Chairman

DIRECTORS Vaughn L. Benson

Patrick G. Kirlin Marcy J. Luth

Thomas J. Meister John W. Sehi

John B. Fruhwirth Elected Member of AICPA Council

Richard D. Gifford West Nebraska Chapter President

STAFF Dan Vodvarka, President

Sheila Hoadley, Vice President Omaha 402.330.9580 | Lincoln 402.742.0118 | pltechnology.com/cpa

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LEADERSHIP SLATE . . . From Page 1 

has an extensive background in accounting. He graduated in 1989 from the university of ne-braska at omaha with a Ba de-gree in accounting and worked as an auditor with the nebraska department of revenue from 1989-1994 before serving as the controller of M & s grading. dan spent two years in public accounting with Lutz & company Pc in omaha. in 1999, he be-came controller of diesel Power and in 2008 bought the company which is an industrial engine dis-tributorship with offices in omaha, chicago and st. Louis. He served on the society’s in-dustry committee for over 10 years including three terms as the committee chairman. Wells has been a member of the soci-ety’s Board of directors for three

years and has served as society secretary and a member of the executive committee. He has also been a member of the Board’s audit committee and the society’s nominating commit-tee. He is active in a number of community organizations in omaha. FOR CHAIRMAN-ELECT: Anthony J. Pruss III is a share-holder in the public accounting firm of auten, Pruss & Beck-mann, P.c. in norfolk. a society member since 1979, he has served a dozen years on the taxation committee and 15 years on the cPe committee where he is currently Vice-chairman. tony currently is also a member of the society Foun-dation Board of trustees. From 2007-2010, he was a member of the society Board of directors and also served a term as soci-ety secretary and a member of the executive committee. a graduate of Wayne state col-lege, he has been active in the norfolk community over the years as a Board member of the norfolk YMca, the Mid-american council of Boy scouts of america and has been Past chairman and a member of the Finance committee of sacred Heart Parish in norfolk. FOR DIRECTOR: Sheila A. Brugger is the accounting Man-ager for nebraska Public Power district (nPPd) in columbus. she began her professional ca-reer in public accounting but then transitioned to private in-dustry and has specialized in managerial accounting for mid-sized industries in nebraska. she has worked for Baldwin Fil-ters in Kearney, diamond Plas-tics in grand island and colum-bus Metal industries in colum-bus before joining nPPd in 2012. a society member since 1998, sheila has a Bachelors’ degree in Business administra-tion with an emphasis in ac-

counting and economics and a Master of Business administra-tion from unL as well as a cer-tificate of Management account-ing. she is a past chairman of the society’s industry committee and has served on that commit-tee for 13 years. she serves on the unL MBa advisory Board, is active in st. Joseph’s Parish in York and enjoys, along with her husband Mark, raising and com-peting on american Quarter Horses. FOR DIRECTOR: Shari A. Munro is a senior Manager in the omaha firm of Frankel Zacharia providing years of ac-counting and attest services to her clients. she has experience in a variety of industries, includ-ing wholesale distribution, retail, construction, government and not-for-profits. she received her BsBa degree from the university of nebraska at omaha and worked for coopers & Lybrand in omaha and denver before join-ing Frankel Zacharia in 1993. shari has been a society mem-ber since 1993 and has served for years on the society’s Quality review committee and has re-cently completed the aicPa’s Peer review training. she serves on the Board of directors and Finance committee of skutt catholic High school, the Board of directors of the uno alumni association and is a trustee of the university of nebraska Foun-dation. shari is the chair of the 2013 american Heart associa-tion’s go red for Women expo.

Finishing Terms Finishing their terms on the society’s Board of directors will be Julie Bauman of Falls city, immediate Past chairman, and Board members Jamie Johnson of Lincoln and Marcy Luth of grand island. Luth resigned from the society Board in august after being appointed to the ne-braska Board of Public accoun-tancy.

Nebraska Society membership applications have been received from the following indi-viduals. Objections should be filed with the Secretary of the Nebraska Society of CPAs: Jamie L. Johnson, NMPP Energy, 8377 Glynoaks Dr., Lincoln, NE 68516.

Jeffrey S. Baumann, Mcgladrey LLP; omaha Marc D. Behrens, seim Johnson LLP; omaha Grant H. Buckley, deloitte & touche, LLP; omaha Tyler M. Denker, deloitte & touche, LLP; omaha Brandon S. Maly, northeast community college; norfolk Morgan L. Meyer, seim Johnson LLP; omaha J. Alex Morton, seim John-son LLP; omaha Megan L. Parks, seim John-son LLP; omaha Luke J. Sauer, robert Half international; omaha

Membership Applications

5

CPAS UP AT NIGHT . . . From Page 2 

for many firms in 2011 and 2013, also moved down the list and out of the top five for all firm sizes.

tax law changes and com-plexity and workload compression remain burdens for the smallest firms. they are perennially among the top five issues for firms with five or fewer professionals.

remember when scrambling to find great staff was a major con-cern? those days are on the hori-zon, if not here already.

Firms that have not begun concentrating on their transition to new ownership or leaders would be well advised to do so as baby boomers head into retirement and as strong M&a activity changes their local marketplace.

Both large and some smaller firms are thinking about partner unity and accountability. Many firms weathered the recession by tightening up expectations for part-ner contributions and standardizing

their procedures to maximize effi-ciency. those have turned out to be smart management choices and firms appear ready to stick with them even though the downturn is over.

Action Steps for Success How can you put the survey

findings to work in your practice? review the results in a part-

ner or strategic planning meeting. do they track to your firm’s experi-ences? are there any surprises?

consider whether you would make any changes in your strategic plans based on the survey results. discuss questions such as:

is the firm making the most of the new business opportuni-ties that may be available now that the economy has stabilized? if not, what changes are needed?

is it time to begin or revisit your succession plans?

Will your staff recruitment and retention efforts give you a competitive edge in an active hiring market?

as part of your strategic plan-ning, you can turn to a broad range of aicPa and PcPs resources to help you address all of the issues identified in this year’s survey, from the aicPa’s tax Practitioners tool-kit and Health care reform re-source center to the PcPs Prac-tice growth & client services and succession Planning resource centers.

the PcPs 2013 cPa Firm top issues survey commentary in-cludes links to useful tools and a discussion of what the trends mean and how cPas can respond to them and the survey results web-page provides the top issues lists for various firm sizes, plus indicates the resources that help practitio-ners address critical issues. in ad-dition, the aicPa’s PcPs team has recently launched webpages spe-cifically targeted toward sole practi-tioners, small, medium and large firms, so that cPas can more eas-ily access resources and find prac-tice management solutions tailored to the size of their firm.

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Annual Business Meeting Luncheon Only $40 - Society Member (For those attending the Conference, the Annual Meeting fee is included in the price of the conference)

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 Expiration Date ________________

Credit Card Number ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ CVV Code (on back of cc) ____ ____ ____

Print Card Holder's Name ______________________________________ Card Holder's Signature ___________________________________

Credit Card Billing Address, City, State & Zip _________________________________________________________________________________

The Nebraska Society of CPAs will hosts its 13th Annual Fall CPE Conference on October 30-31, 2013, at The Embassy Suites Conference & Convention Center, 12520 Westport Parkway, LaVista, Nebraska.

The conference qualifies for 16 hours of continuing professional education credit, of which two hours will count towards the ethics requirement, with the Nebraska Board of Public Accountancy. The registration form and costs are on the next page (page 7) of this newsletter or online at www.nescpa.org/conferenceregform.php.

Parking is available at Embassy Suites or at the Courtyard Marriott. A block of sleeping rooms has been reserved at The Embassy Suites for conference attendees at the special rate

of $125 per night for a single or double. This block of rooms has been reserved under our name, The Nebraska Soci-ety of CPAs. All reservations must be received on or before October 4, 2013. Any reservations made after that date will be subject to availability and the hotel’s guest room rates. Reservations are made by calling The Embassy Suites at (402) 331-7400.

Please list any special accommodations on your registration form or notify us by email (sheila@nescpa.org) or by phone (800) 642-6178 at least one week prior to the conference. Also, for your comfort, we suggest that you dress in layers to accommodate the hotel meeting rooms’ varying temperatures.

The conference was planned by the members of the Fall CPE Conference Planning Committee and its Chairman, Tracy Black.

The Nebraska Society's 85th Annual Meeting will be held during the Noon luncheon on October 30. This spe-cial annual event features the election of new Society officers, a summary of the Society’s activities and accomplish-ments during 2013 by retiring Chairman of the Board Patrick Lavelle of Omaha and an acceptance speech and "call to action" by incoming Chairman Dan Wells of Omaha.

Also --- the Society's 2013 Foundation scholarship winners (there are over 50!) will be recognized as will new Ne-braska CPA certificate recipients and the highlight of the day's agenda, as always, will be the RECOGNITION OF THREE OUTSTANDING NEBRASKA CPAs who will be honored for their service, dedication and accomplishments!

PLEASE CONSIDER TAKING TIME OUT OF YOUR BUSY SCHEDULES TO JOIN US AS WE CELEBRATE THE SOCIETY’S PAST ACCOMPLISHMENTS AND LOOK FORWARD TO A DYNAMIC FUTURE!

13TH ANNUAL FALL CPE CONFERENCE & ANNUAL MEETING OF THE NEBRASKA SOCIETY OF CPAS

OCTOBER 30 - 31, 2013

ANNUAL MEETING LUNCHEON REGISTRATION FORM & PAYMENT

7

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 Expiration Date ________________ Credit Card Number ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ ___ CVV Code (on back of cc) ____ ____ ___ Print Card Holder's Name ______________________________________ Card Holder's Signature _________________________________ Credit Card Billing Address, City, State & Zip

PLEASE MAKE YOUR SELECTIONS BELOW AND EMAIL (SOCIETY@NESCPA.ORG), 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.

Embassy Suites ~ 12520 Westport Parkway, LaVista, Nebraska

Conference Agenda & Registration Form

Conference Fees: The fee covers all conference sessions, materials, lunches, continental breakfasts and refreshment breaks. Early registration is encouraged. $375 - Two Days Society Member $405 - Two Days Non-Society Member $295 - One Day - Society Member

WEDNESDAY, OCTOBER 30, 2013 7:00 to 8:00 AM Registration & Continental Breakfast

8:10 to 9:40 AM “AICPA’s Professional Issues Update” – Tommye E. Barie, CPA, AICPA Council & Board of Director Member 10:00 AM to Noon “Federal Tax Update” – Matthew R. Ottemann & Jonathan L. Grob, McGrath, North, Mullin & Kratz, PC LLO 12:00 to 1:30 PM Luncheon and Annual Business Meeting

1:30 to 2:40 PM “Labor Law Update” – William Harding, Harding & Schultz PC LLO 3:00 to 4:00 PM Breakout Sessions - Please select one breakout session by filling in the circle ().

“Internet Security” – Drew Embury & Phil Lieber, P&L Technology “OCBOA” – Robert Durak, AICPA “Staff Development & Recruiting” – Chris Carlson, Aureus Group

4:00 to 5:00 PM Breakout Sessions - Please select one breakout session by filling in the circle (). “Internet Computing” – Drew Embury & Phil Lieber, P&L Technology "LLC Update” – Julie M. Karavas, Baylor, Evnen, Curtiss, Grimit & Witt, LLP "Staff Development & Retention — Part 2” – Chris Carlson, Aureus Group

THURSDAY, OCTOBER 31, 2013 7:30 to 8:00 AM Continental Breakfast 8:00 to 9:00 AM “The Tax Commissioner’s Update” – Douglas Ewald, Nebraska Tax Commissioner

9:05 to 10:40 AM “FASB Update” – Dana Foote, KPMG LLP 10:55 am to 12:05 PM Breakout Sessions - Please select one breakout session by filling in the circle (). “Audit Standards Update” – Jim Richardson & Michelle Luett, McGladrey LLP “Controllership Planning - Part 1” – Arthur Pulis, III “Healthcare Update for Small Businesses” – Ann Frohman, Frohman Law Office, LLC

12:05 to 12:50 PM Luncheon 12:50 to 2:00 PM Breakout Sessions - Please select one breakout session by filling in the circle ().

“Controllership Planning - Part 2” – Arthur Pulis, III "Healthcare Update for Large Businesses” – Tony Sorrentino, SilverStone Group “Pathways Commission - CPE Development” – Jack Krogstad, Creighton University

2:15 to 4:00 PM “Ethics Update” – James Woy, CPA, Anderson ZurMuehlen — 2 Hours of Ethics 4:00 PM Conference Adjourns

THE NEBRASKA SOCIETY OF CPAS’ 13TH ANNUAL FALL CPE CONFERENCE - OCTOBER 30 - 31, 2013

8

By Bryan Robertson Past Society Chairman

FORGONE PROFIT NOT CONSTRUCTIVE DIVIDEND

in what sounds more like a tax professor’s musings than a court case, the tax court recently held that the forgone profit margin of a corporate entity with respect to ser-vices rendered on behalf of its sole shareholder is not a constructive dividend. electing not to construc-tively impose income, the court found that a corporation’s decision not to make a profit on services pro-vided to its shareholder, who fully reimbursed the corporation for the cost of the services including over-head, did not constitute a distribution of property.

Facts north dakota taxpayer terry J.

Welle is the sole shareholder of terry Welle construction, inc. (tWc), a subchapter c corporation specializing in the construction of multifamily housing. in 2004, Welle began building his second home on a lakefront property he and his wife owned.

as a result of the project, Welle caused tWc to open a “cost plus” job account on its books. during the construction, tWc paid the subcon-tractors and vendors directly and its framing crew framed the lakefront home. Mr. and Mrs. Welle repaid tWc for all amounts paid to the sub-contractors and vendors and reim-bursed tWc for its labor and over-head costs. tWc did not charge the Welles, and the Welles did not pay to tWc, an amount equal to the cus-tomary 6% to 7% profit margin fee that tWc charged to unrelated par-ties.

asserting a $48,275 constructive dividend to reflect the uncharged profit margin fee, the irs sought to impose a deficiency and an accuracy-related penalty.

Opinion the court first reviewed con-

structive dividend cases related to electrical and home construction ser-vices, distinguishing the unreim-bursed costs involved in those cases from the unimposed profit margin at issue. obviously unimpressed with the position of the irs, the court concluded that the forgone profit did

the nebraska Board of Public accountancy’s (state Board) office is mov-ing to the recently remodeled 1526 Building (the former assurity Life insur-ance Building) located at 1526 K street in Lincoln. the 1526 Building is now a state office Building located across the street north of the state capitol.

the state Board will be located on the fourth floor along with the nebraska investment council and the nebraska Public employee retirement systems Board. the state Board is moving from the apothecary Building located in the Haymarket district where it has been for a number of years.

according to dan sweetwood, executive director, the state Board office will be moving the week of september 16, 2013. sweetwood said that it is an-ticipated that state Board operations will be disrupted from september 10 through 20. “this could include delayed response to telephone, email, regis-tration processing and other inquiries of the Board office. Board staff will strive to continue to provide limited services during this time,” sweetwood said.

Board Contact Information

Physical Address: 1526 Building 1526 K street, ste 410 Lincoln, ne 68508 Email: (contact) dan.sweetwood@nebraska.gov

Mailing Address: P.o. Box 94725 Lincoln, ne 68509 Phone Number: (402) 471-3595 Fax Number: (402) 471-4484 Website: www.nbpa.ne.gov

not rise to the level of a distribution of property.

respondent does not explain how a corporation's decision not to make a profit on services provided to a shareholder who fully reim-burses the corporation for the cost of the services (including overhead) consti-tutes a distribution of prop-erty that reduces the corpo-ration's earnings and profits under section 316(a), nor does respondent cite any cases supporting such a position. the court then distinguished for-

gone profit from cases involving the bargain sale of property to a share-holder concluding that such a sale “diverts actual value otherwise avail-able to the corporation for the benefit of a shareholder.” the court likewise distinguished forgone profit from cases involving other than incidental or insignificant use by a shareholder of corporate property noting that, in those cases, “the shareholder has received a constructive dividend equal to the fair market value of the

NEBRASKA ACCOUNTANCY BOARD WILL MOVE OFFICE IN SEPTEMBER

use of the property.” the court found the use by Welle of the corporate infrastructure and workforce was incidental to their business purpose.

the most that can be said about Welle's use of tWc is that he used the corporation as a conduit in paying subcontractors and vendors and that he ob-tained some limited services from corporate employees. Welle fully reimbursed the corporation for all costs, including overhead, associ-ated with those services, and tWc did not divert ac-tual value otherwise avail-able to it by failing to apply its customary profit margin in determining the amount Welle had to reimburse the corporation. Based on its findings, the court

concluded that Welle did not receive constructive dividend income. it va-cated both the asserted deficiency and the associated penalty.

9

THE NEBRASKA SOCIETY OF CPAS’ UPCOMING 2013 CPE COURSES DATE ID COURSE TITLE TYPE DISCUSSION LEADER LOCATION

CPE HRS

ETHICS HOURS

SEPTEMBER 9 RCSA APPLYING THE RISK ASSESSMENT STANDARDS AA

FRED CHRISTENSEN, AICPA MAHONEY STATE PARK, ASHLAND, NE

8 0 10 CL4ICDAD UNDERSTANDING COSO INTERNAL CONTROL AA 4 0 10 CL4CRA ADVANCED COMPILATION & REVIEW ISSUES AA 4 0 12 RSAG REVISED YELLOW BOOK / SINGLE AUDIT GUIDE AA PAUL KOEHLER, CPA THE CORNHUSKER,

LINCOLN, NE 8 0

13 ASLG ACCOUNTING & AUDITING OF STATE & LOCAL GOVERNMENTS AA 8 0 16 F2013 FRAUD 2013 ALERT FOR SMALL & MID-SIZE FIRMS MA

GARY ZEUNE, CPA, ZEUNE & ASSOCIATES

THE CORNHUSKER, LINCOLN, NE

8 0 17 IFTA DETECTING & PREVENTING INTERNAL FRAUD, THEFT & ABUSE MA 8 0 18 GZHEAD ETHICS: WHEN CPAS MAKE THE HEADLINES ET 4 4

18 SUTAEI THE NEBRASKA SALES & USE TAX FOR CONTRACTORS & THE NEBRASKA ADVANTAGE ECONOMIC INCENTIVES PROGRAM TX

S. DRZAIC, & M. HUGO, NEBR. DEPT. OF REVENUE

THE CORNHUSKER, LINCOLN, NE 4 0

23 DCPP LOSCALZO'S AUDITS OF DEFINED CONTRIBUTION PENSION PLANS (EMPH. 401K PLANS) AA JAMES WOY LOSCALZO ASSOCIATES, LTD.

MAHONEY STATE PARK, ASHLAND, NE

8 0 24 NFPGU LOSCALZO'S NOT-FOR-PROFIT & GOVERNMENTAL UPDATE AA 8 0

26 IRAS IRAS, ROTH IRAS, SIMPLES, SEPS, 401(K)S & ROTH 401(K)S - MAKE THE RIGHT MOVES NOW AND DOWN THE LINE SALT IT AWAY & PEPPER IT TX BRADLEY BURNETT, J.D.,

LL.M.

FAIRFIELD INN & SUITES, GRAND ISLAND, NE 8 0

27 TPC IRS PRACTICE UPDATE / TECHNOLOGY IN PRACTICE UPDATE TX MAHONEY STATE PARK,

ASHLAND, NE 8 0

30 UICF EXPLORING THE UPDATED INTERNAL CONTROLS FRAMEWORK: CRITICAL CONCEPTS IN DESIGN, EVALUATION, IMPLEMENTATION & MONITORING AA

MICHAEL MORGAN, SURGENT MCCOY CPE, LLC

MAHONEY STATE PARK, ASHLAND, NE 8 0

OCTOBER

1 FRFS FINANCIAL REPORTING FRAMEWORK FOR SMALL & MEDIUM-SIZED ENTITIES AA MICHAEL MORGAN,

SURGENT MCCOY CPE, LLC MAHONEY STATE PARK,

ASHLAND, NE 8 0

3 CNFP RIGHT THE FIRST TIME AA ROBERT LESLIE, AICPA

FAIRFIELD INN & SUITES, GRAND ISLAND, NE 8 0

4 RNPO NOT-FOR-PROFITS TREATED AS A BUSINESS AA THE CORNHUSKER,

LINCOLN, NE 8 0

7 NMED NEW MEDICINE: KEY ISSUES CPAS NEED TO KNOW ABOUT THE PATIENT PROTECTION & AFFORDABLE CARE ACT TX SUSAN SMITH, SURGENT

MCCOY, CPE LLC MAHONEY STATE PARK,

ASHLAND, NE 4 0

7 CPE4 SHOULD CLIENT EXP. BE CAPITALIZED OR EXP.? A GUIDE TO THE NEW IRS REGULATION TX 4 0 8 SATC SURGENT MCCOY'S FEDERAL TAX CAMP TX 8 0

17 CSBS CREATIVE STRATEGIES FOR BUYING, SELLING OR GIFTING A BUSINESS TX ARTHUR WERNER, WERNER ROCCA

QUARRY OAKS, ASHLAND, NE

8 0 18 AEFP APPLYING INTEGRATED ESTATE, FINANCIAL & ASSET PROTECTION PLANNING TECHNIQUES TX 8 0

23-24 STP2A AHI STAFF TRAINING – SEMI SENIOR AA ROGER NELSON, AHI ASSOCIATES

MAHONEY STATE PARK, ASHLAND, NE 16 0

30-31 FALL 13TH ANNUAL FALL CPE CONFERENCE VARIOUS EMBASSY SUITES CONF. CTR, LAVISTA, NE 16 2

NOVEMBER

4 AAIC

ACCOUNTING & AUDITING: ESSENTIAL INTERNAL CONTROLS & POLICIES FOR DATA PROTEC-TION & DATA PRIVACY WITH CLOUD-BASED SYSTEMS, PAPERLESS WORK ENVIRONMENTS, SMALL MOBILE COMPUTING DEVICES & SOCIAL MEDIA IN THE WORKPLACE AA KYLE ANDERSON, NICHOLS

PATRICK CPE, INC. MAHONEY STATE PARK,

ASHLAND, NE

8 0

5 PEEC PROFESSIONAL ETHICS UPDATES: INDEPENDENCE, ARE YOU IN COMPLIANCE WITH NEW RULE 101-3 REQUIREMENTS & OTHER UPDATED PROVISIONS FROM THE PEEC? ET 4 4

5 SCFF SEVEN CRACKS IN THE FINANCIAL FOUNDATION TX M. JOHNSON & J. JOHNSON,

EXEC. WEALTH MGMT. MAHONEY STATE PARK,

ASHLAND, NE 4 0 6 PCTR PREPARING C CORPORATION TAX RETURNS FOR NEW STAFF & PARA-PROFESSIONALS TX LUCRETIA WILSON MATTSON

SURGENT MCCOY, CPE LLC MAHONEY STATE PARK,

ASHLAND, NE 8 0

7 PITR PREPARING INDIVIDUAL TAX RETURNS FOR NEW STAFF & PARA-PROFESSIONALS TX 8 0

8 H1TU 2013-14 1-DAY FEDERAL TAX UPDATE – INDIVIDUAL, BUSINESS & CORPORATE TX V. HOVEN & R. ROBERSON,

HOVEN ROBERSON TAX SEM. THE CORNHUSKER,

LINCOLN, NE 8 0

11 SUEP SUCCESSION & EXIT PLANNING - THE FOURTH QUARTER GAME PLAN TX NICK NIEMANN,

MCGRATH NORTH LAW FIRM EMBASSY SUITES CONF.

CTR., LAVISTA, NE 8 0 12 PTEA PASS THROUGH ENTITIES: ADVANCED TAX ISSUES TX RICKY WRIGHT, NICHOLS

PATRICK CPE, INC EMBASSY SUITES CONF.

CTR., LAVISTA, NE 8 0

13 PCR PREPARING COMPLEX 1040S TX 8 0

14 NAFR NONPROFIT ACCOUNTING & FINANCIAL REPORTING AA PAUL KOEHLER, CPA

FAIRFIELD INN & SUITES, GRAND ISLAND, NE 8 0

15 SASC THE CLARIFIED SAS'S - SAS 117 TO CURRENT AA MAHONEY STATE PARK,

ASHLAND, NE 8 0

18 1041 FIDUCIARY INCOME TAX RETURNS - FORM 1041 WORKSHOP TX R. BARNHILL, SURGENT MCCOY, CPE LLC

FAIRFIELD INN & SUITES, GRAND ISLAND, NE 8 0

19 ITEB ADVANCED SELECTED ISSUES FOR TRUSTS, ESTATES & THEIR BENEFICIARIES TX MAHONEY STATE PARK,

ASHLAND, NE 8 0

21 ATKN THE ESSENTIAL AUDIT TOOLKIT: BEST PRACTICES FOR SMALLER ENTITIES AA ANN MARCHETTI,

SURGENT MCCOY CPE, LLC THE CORNHUSKER,

LINCOLN, NE 8 0 22 FSD4 FINANCIAL STATEMENT DISCLOSURES: GUIDE TO CURRENT REQ. & DEVELOPING ISSUES AA D. CHRISTENSEN,

SURGENT MCCOY CPE, LLC 4 0

22 IFB4 INNOVATIVE FORECASTING & BUDGETING: MOVING BEYOND THE TRADITIONAL TECHNIQUES AA 4 0

25 TAU TAX ADVISORS UPDATE (CO-SPONSORED WITH THE IA SOCIETY OF CPAS) TX ANDY BIEBL,

CLIFTONLARSONALLEN STONEY CREEK INN,

SIOUX CITY, IA 8 0

25 ETU ESSENTIAL TAX UPDATE – DEC 2013 TX BRADLEY P. BURNETT, J.D., LL.M.

DIVOTS CONF. CTR., NORFOLK, NE 8 0

26 MOTT PLANNING TO DEFEAT THE 3.8% MEDICARE TAX & OTHER TAX TOPICS TX MAHONEY STATE PARK,

ASHLAND, NE 8 0 CHECK OUT OUR WEBSITE FOR THE ENTIRE 2013 CPE CALENDAR WWW.NESCPA.ORG

MAHONEY STATE PARK, ASHLAND, NE

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the organization during the year. the aaa is one resource for

best practices in the accounting profession providing member and firm value resulting in high quality management and administration for cPa firms in north america and internationally.

saale has been with Mcder-mott & Miller for 20 years and works in the firm’s grand island office. the firm also has offices in Kearney, Hastings and omaha.

the omaha firm of Frankel Zacharia, LLc has announced that Cindy Brenneman of omaha has been promoted to Partner, Rob Osborne of omaha to Manager and Andy Worthington of omaha to tax Man-ager . . . Neal Lyons of Lincoln has been promoted to chief Financial officer of unico in Lincoln, ne-braska’s largest privately owned insurance agency . . . Ben Burton and Aaron Hoffman of omaha have been promoted to tax Manager in the omaha cPa firm of Lutz & co . . . Ken Rouch of Lincoln has been elected Midwest regional Vice President-elect of the association of government accountants . . . Lindsay Wewel of omaha has been promoted to Manager in the Lincoln office of BKd LLP . . . Jennie Scheel of omaha has been named the chief Financial officer of Five nines in omaha . . . Brock Herley of norfolk has been named a shareholder in the firm of Kruse, schumacher, smejkal & Brockhaus, P. c. in norfolk.

Members in the News

norm saale of grand island, the chief operating officer and secretary for Mcdermott & Miller Pc has been elected President of the association for accounting administration (aaa). He was elected in June, 2013 at the as-sociation’s national Practice Management conference in de-troit, Mi. as President, saale will serve as chairman of the Board of directors and ex-officio mem-ber of all committees as he leads

SAALE ELECTED PRESIDENT KROEKER NAMED FASB VICE PRES

James L. Kroeker, former chief accountant for the us. securities and exchange commission (sec) on July 24, 2013, was appointed a member and Vice chairman of the Financial accounting standards Board (FasB).

He was appointed by the Board of trustees of the Financial ac-counting Foundation (FaF), which oversees the FasB and its sister organization, the governmental ac-counting standards Board (gasB). His term will begin on september 1, 2013, and last until June 30, 2018, at which time he would be eligible for another five-year term. the po-sition of Vice chairman was created early in the FasB’s history but was later retired. in response to increas-ing demands on the time of the FasB chairman, the FaF trustees decided to reinstate the position.

Kroeker was the sec’s chief accountant from 2009-2012, follow-ing two years of service as deputy chief accountant. Prior to that, he as a partner in the national office accounting service group of deloitte & touche, LLP in Wilton, ct.

A native of Lincoln, Ne-braska, Kroeker, received his Bachelor of Science degree with an emphasis in accounting from the University of Nebraska-Lincoln in 1992, is a former Ne-braska Society member and was been a speaker at Society confer-ences a number of time in the past. He worked in the Omaha office of Deloitte and Touche for four years in the 1990s.

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NEBRASKA PRACTICES FOR SALE: norfolk accounting & Bookkeep-ing Practice - gross revenues $440K. For more information call us 1-800-397-0249 or visit us at www.accountingPracticesales.com to see listing details and register for free email updates. THINKING OF SELL-ING YOUR PRACTICE? accounting Practice sales is the leading mar-keter 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 trent@accountingpracticesales.com.

the aga’s Lincoln chapter’s Fall Professional Development Conference will be held on thursday, september 26, 2013, from 8 am to 4:30 pm at the country inn & suites, 5353 n. 27th street, in Lincoln.

the annual event will have presentations on: Group Audit SAS-AUC Sec. 600 by Paul Koehler of Lincoln, the Clarified SAS’s and a session on Financial Statement Analysis with a Fraud Focus. an ethics presentation will feature dr. richard e. Hurley, the recipient of the 2013 aga na-tional educator of the Year award.

the conference has been ap-proved by the nebraska Board of Public accountancy for 8 cPe credit hours including two of eth-ics.

For online registration inter-ested person should go to www.lincolnneaga.org.

AGA SCHEDULES FALL CONFERENCE

FOUNDATION GETS FUNDS FROM CONFERENCES randy Limbeck of omaha, society Foundation President, is pleased to announce that the Foundation’s general fund has received a $1,200 donation from the planning committees of the 18th annual Nebraska Not-For-Profit Organizations’ Conference and the 32th annual Nebraska Governmental Accounting and Auditing Conference. Both conferences were held in Lincoln during June 2013 and the contributions are from the revenues generated by the con-ferences. the planning committees made the contributions to honor and thank the following speakers: Not-For-Profit: gil Barajas of omaha, christine Murphy of omaha, Lori egger of omaha, andrew embury of omaha, Hugh Hermanek of omaha, Jeff Jorth

of omaha, Lee Klumpp of nor-walk, ct, terry Lee of omaha, Phil Lieber of omaha, V. Moore of Washington dc, nick niemann of omaha, Vasant raval of omaha and tony sorrentino of omaha. Governmental: James Brown of norwalk, ct, Frank crawford of oklahoma city, oK,

Lynford graham of short Hills nJ, garner girthoffer of Lincoln, russ inbody of Lincoln, dana Weber of scottsbluff, ryan John-son of omaha, Paul Koehler of Lincoln, stacia davis Le Blanc of Washington, dc, shane rhian of Lincoln, and sean Winekauf of omaha.

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Nebraska Society of CPAs 635 south 14th street, suite 330 Lincoln, nebraska 68508

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PRACTICE ACQUISITIONS SOUGHT. Mcdermott & Miller, P.c., is interested in acquiring or merging in a quali-fying cPa firm(s) along the i-80 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 nsaale@mmcpas.com. serious inquiries only.

AUDIT SENIOR: the omaha of-fice of Mcdermott & Miller, Pc, has an opening for an audit sen-ior. Job Description: We are looking for an individual with 3-5 years or more of audit experience in public accounting to lead audit engagements, supervise and train other professionals, and assist audit supervisors/managers in all audit functions. experience with QuickBooks is preferred. Very lim-ited overnight travel required in this position (less than 5 nights per year). Required Skills: excel-lent client relationship skills; ex-cellent time management skills and ability to meet deadlines; Proven ability to supervise and train other professionals; strong communication skills, both written and verbal. Required Experi-ence: current cPa certification; 3-5 years or more of audit experi-ence in public accounting; 1-3 years of experience in supervisory position. Mcdermott & Miller, Pc offers top pay, full benefits, and opportunities for advancement. For more information, or to apply for this position, please contact Pat andersen at (402) 391-1207, or email a cover letter and resume to pandersen@mmcpas.com. also v i s i t o u r w e b s i t e @ www.mmcpas.com for more infor-mation about our firm.

ACCOUNTANT/CPA Public accounting firm in omaha, ne is seeking accountants and staff to join our firm. experience in Quickbooks, business ac-counting and tax will be helpful. Full and Part-time with no travel, flexible schedule and hours available. email resume and salary range to Leo J. Panzer, cPa at lpanzer@infinitycpagroup.com.

SENIOR ACCOUNTANT West omaha cPa Firm is seeking a cPa With 3+ years of Public accounting experience. recent audit and/or tax background re-quired. no travel, competitive compensation pack-age, near term ownership potential for the right can-didate. send resume and salary requirements to Jim reinig, Massman nelson reinig P.c., 13310 i street, omaha, nebraska, 68137.

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