1

Skyscapes2012

2010 Sells Award Winner

“Shoulder to Shoulder with Management”

2

Master of Business Administration

Master of Business Administration in Accounting

Wichita | Lenexa | Topeka | Online

Leading the way | friends.edu/mba | 1-800-794-6945 ext 5901

At Friends University, we have made a

commitment to quality graduate

programs through experienced

faculty, cutting-edge learning

techniques and practical application.

Friends University does not discriminate against academically qualified students of any race, color, national or ethnic origin, sex, disability or age in its programs and activities. Friends University is accredited by The Higher Learning Commission and is a member of the North Central Association, 230 S.

LaSalle Street, Suite 7-500, Chicago, IL 60604, www.ncahlc.org, 1-800-621-7440.

Congratulations to MBA instructor Seth Albin for receiving the Elijah Watt Sells award.

3

INSIDE THIS ISSUE

4

5

6

8

12

14

16

19

20

24

26

29

30

31

About the Educational Foundation

From the Chair of the Kansas Society of CPAs Educational Foundation

2011-2012 KSCPA Scholars

The Accounting Pilot and Bridge Project - An Update from Dr. Dan Deines

Navigating the Passageway to Obtaining a Kansas CPA Certificate and Initial Permit to Practice as a CPA

Kansas College & University Accounting Programs

Design your Career - Craft Your Life

2011 CPA Passers

KSCPA Chapters Recognize New CPAs

Young Professional CPAs - Leaders of the “20 up to 40”

KSCPA Educational Foundation List of Contributors / Financial Statements

In Memoriam

Member News

Mark Your Calendar

BACK COVER: Members of the KSCPA with New CPA Passers announce 80th Anniversary Celebration

NAVIGATING THE PASSAGEWAY TO OBTAINING A KANSAS CPA CERTIFICATE

AND INITIAL PERMIT TO PRACTICE AS A CPA

8 12 16

The cover features Seth Albin with the owners of Exacta Aerospace, Inc., a leading tier-one supplier of high-precision aerospace parts and assemblies located in Wichita. When we asked Seth if we could photograph him for the cover of this special edition of Skyscapes, he insisted that he be photographed with the management team. Seth stands “shoulder to shoulder with management.” He is the only CPA at the company, and the owners told us that he is an essential part of the management team, providing them with information that is critical to operating a successful business. This issue showcases many of our superstars – scholarship winners, new CPAs, faculty, contributors, and KSCPA members. No one better exemplifies the high-achieving personality of a CPA than Seth. Seth scored one of the top-ten scores on the CPA exam and was awarded the prestigious Elijah Watt Sells award from the AICPA. Seth graduated summa cum laude from Fort Hays State University with a BBA in accounting and earned an MBA from Fort Hays State. Seth serves on several local boards and is the scholarship

chair for the Wichita Manufacturers Association. He is an instructor in the MBA program at Friends University and is a member of the Kansas Society of CPAs and the American Institute of CPAs. He is married to Ericka.

ABOUT THE COVER Seth Albin, MBA, CPA - Chief Financial Officer, Exacta Aerospace, Inc.

Advertisers – Thank you for making this special issue possible and available to students.

HIGH SCHOOL COLLEGE NEW CPAs

THE ACCOUNTING PILOT AND BRIDGE PROJECT

AN UPDATE FROM DR. DAN DEINES

DESIGN YOUR CAREER-CRAFT YOUR LIFE

2. Friends University10. Grant Thornton LLP10. Tabor College10. Emporia State University

11. Kennedy & Coe, LLC17. BKD LLP18. Emporia State University18. Allen, Gibbs, Houlik, L.C.

20. Summers, Spencer & Company, P.A.22. Kansas State University23. Lewis, Hooper, Dick LLC23. Fort Hays State University

23. Brungardt Hower Ward Elliot & Pfeifer L.C.27. Washburn University28. Paychex29. Classifieds

4

T

The Educational Foundation awarded $54,750 in scholarship and faculty grants in FY 2010-11 to be used in 2011-12.

About the Educational Foundation he Educational Foundation of the KSCPA was founded in 1963 as a not for

profit entity “to devise and carry into effect programs for aiding, promoting, developing and advancing education, research and study relating to the teaching, study and practice of accountancy and related fields of endeavor.”

Since 1964, the Foundation has awarded scholarships and grants to high school students, undergraduate and graduate students, and faculty. Awarding grants and scholarships increases awareness of the accounting profession to students and helps the members of the KSCPA establish cooperative relationships with the faculties of the colleges and universities in Kansas.

Since the inception of the Foundation, the KSCPA Educational Foundation has provided one of the highest amounts of scholarships to accounting students in Kansas and is among the highest contributors of state CPA associations. During the first ten years of existence, the Foundation awarded $47,850 in scholarships. For the academic year 2011-12, $54,750 in scholarships and faculty grants was awarded– almost ten times the amount of the initial year.

Because of the generous contributions of the members and KSCPA chapters, 10 additional high school merit scholarships were added in 2011-12. The Foundation also contributed to the Accounting Pilot & Bridge Project, the Kansas Council on Economic Education, and sponsors the scholarship banquets at the various universities. Who governs the Foundation?

The Foundation is governed by a nine-member Board of Trustees, elected by the KSCPA Membership at its Annual Meeting. The officers include a Chair, Vice Chair, and Secretary/Treasurer who also serve as the investment committee, monitoring the investments of the Foundation. How is the Foundation Supported?

The Foundation is supported entirely by contributions which are tax deductible. Each non-life member is assessed $20 annually, and additional contributions are made by members and others, including the KSCPA Chapters. How can I apply for a scholarship?

Complete information on applying for a scholarship through the Educational Foundation is available at http://www.kscpa.org/up_and_coming_professionals/scholarships. High school students should visit with their high school counselors or business teachers, and college students should visit with the scholarship coordinator in the accounting department.

How are the recipients of the scholarships chosen? Decision on who is awarded a scholarship depends upon the type of

scholarship. Two endowed scholarships are determined by the Board of Trustees. The undergraduate and graduate scholarship recipients are chosen by accounting faculty at each respective institution, and the high school scholarships are determined by a special committee of the Foundation.

Skyscapes EDUCATIONAL FOUNDATION BOARD OF TRUSTEES John C. Rich Chair Norman P. Hope Vice Chair Kenneth A. Selzer Secretary/Treasurer Kyle J. Hawk Robert J. Schuster John W. Denney Paul T. Mason Cheryl G. Hayward Johanna D. Lyle KSCPA OFFICERS Robert J. Schuster Chair M. Aron Dunn Vice Chair Melinda A. Hitz Secretary/Treasurer John H. Bruckner Immediate Past Chair KSCPA TEAM Mary R. MacBain President/CEO Karen Mitchell Finance Director Rita Barnard Peer Review Administrator Marlene Schellenberger Administrative Manager Danielle Bulson Membership & Communications Coordinator Kevin Moravec Graphic Designer

2012 “UP” Edition

The Kansas Society of Certified Public Accountants, Inc. 100 SE 9th Street, Suite 502 Topeka, KS 66612-1213 P: 785.272.4366 – F: 785.272.4468 www.kscpa.org

Statements of fact and opinion are made by authors alone and do not imply an opinion on the part of the officers or members of the KSCPA. Publication of an advertisement in Skyscapes does not constitute an endorsement of the product or service by Skyscapes or the KSCPA. Copyright © 2012 Kansas Society of CPAs; Topeka, KS. All rights reserved.

Shellenberger

5

T

The Educational Foundation awarded $54,750 in scholarship and faculty grants in FY 2010-11 to be used in 2011-12.

About the Educational Foundation he Educational Foundation of the KSCPA was founded in 1963 as a not for

profit entity “to devise and carry into effect programs for aiding, promoting, developing and advancing education, research and study relating to the teaching, study and practice of accountancy and related fields of endeavor.”

Since 1964, the Foundation has awarded scholarships and grants to high school students, undergraduate and graduate students, and faculty. Awarding grants and scholarships increases awareness of the accounting profession to students and helps the members of the KSCPA establish cooperative relationships with the faculties of the colleges and universities in Kansas.

Since the inception of the Foundation, the KSCPA Educational Foundation has provided one of the highest amounts of scholarships to accounting students in Kansas and is among the highest contributors of state CPA associations. During the first ten years of existence, the Foundation awarded $47,850 in scholarships. For the academic year 2011-12, $54,750 in scholarships and faculty grants was awarded– almost ten times the amount of the initial year.

Because of the generous contributions of the members and KSCPA chapters, 10 additional high school merit scholarships were added in 2011-12. The Foundation also contributed to the Accounting Pilot & Bridge Project, the Kansas Council on Economic Education, and sponsors the scholarship banquets at the various universities. Who governs the Foundation?

The Foundation is governed by a nine-member Board of Trustees, elected by the KSCPA Membership at its Annual Meeting. The officers include a Chair, Vice Chair, and Secretary/Treasurer who also serve as the investment committee, monitoring the investments of the Foundation. How is the Foundation Supported?

The Foundation is supported entirely by contributions which are tax deductible. Each non-life member is assessed $20 annually, and additional contributions are made by members and others, including the KSCPA Chapters. How can I apply for a scholarship?

Complete information on applying for a scholarship through the Educational Foundation is available at http://www.kscpa.org/up_and_coming_professionals/scholarships. High school students should visit with their high school counselors or business teachers, and college students should visit with the scholarship coordinator in the accounting department.

How are the recipients of the scholarships chosen? Decision on who is awarded a scholarship depends upon the type of

scholarship. Two endowed scholarships are determined by the Board of Trustees. The undergraduate and graduate scholarship recipients are chosen by accounting faculty at each respective institution, and the high school scholarships are determined by a special committee of the Foundation.

Skyscapes EDUCATIONAL FOUNDATION BOARD OF TRUSTEES John C. Rich Chair Norman P. Hope Vice Chair Kenneth A. Selzer Secretary/Treasurer Kyle J. Hawk Robert J. Schuster John W. Denney Paul T. Mason Cheryl G. Hayward Johanna D. Lyle KSCPA OFFICERS Robert J. Schuster Chair M. Aron Dunn Vice Chair Melinda A. Hitz Secretary/Treasurer John H. Bruckner Immediate Past Chair KSCPA TEAM Mary R. MacBain President/CEO Karen Mitchell Finance Director Rita Barnard Peer Review Administrator Marlene Schellenberger Administrative Manager Danielle Bulson Membership & Communications Coordinator Kevin Moravec Graphic Designer

2012 “UP” Edition

The Kansas Society of Certified Public Accountants, Inc. 100 SE 9th Street, Suite 502 Topeka, KS 66612-1213 P: 785.272.4366 – F: 785.272.4468 www.kscpa.org

C From the Chair of the Kansas Society of CPAs Educational Foundation

ongratulations to all of the KSCPA Educational Foundation scholarship recipients and to those who have received special recognition for their achievements. Special congratulations to Seth Albin, Kansas’s most recent Elijah Watts Sells Award recipient. This third annual campus edition of Skyscapes is once again devoted to “Up and Coming Professionals” – a program designed to provide support and guidance to those on their way to becoming CPAs.

Since the KSCPA created the Educational Foundation in 1963, our profession has experienced significant change as a result of the globalization of the economy; the exponential growth in complexity of accounting, auditing, and taxation requirements; and the relentless progress of technology (from columnar pads to iPads). For the last forty-nine years, the Educational Foundation has provided support to accounting higher education and to those preparing to be CPAS. Embedded in the KSCPA bylaws is a provision that each KSCPA member provide annual support to the Educational Foundation as part of the

membership investment. Because of these contributions, the Foundation is able to award scholarships and grants to colleges and universities to assist our “Up and Coming Professionals” in preparing to enter the accounting profession and to face the exciting challenges ahead.

The Educational Foundation is emblematic of the historic close relationship between the accounting profession and the accounting academic programs at Kansas colleges and universities. Some of the early leaders in the development of the requirements for the examination and licensure of CPAs and the administration of the profession were university faculty members. The Kansas Board of Accountancy, in fact, has its roots at the University of Kansas.

In case you have not noticed, the members of the professional accounting community support the education of its “Up and Coming Professionals” in an extraordinary manner - unparalleled by any other academic discipline. One of my former Deans was envious yet impressed by the accounting profession’s support of and strong relationship with the accounting academic community. Most accountants can identify one or more accounting faculty who were instrumental in “pointing the way” as they prepared for their career. These same accountants maintain their ties by providing scholarships, internship opportunities, field trips, and participation in programs on various campuses. Accounting professionals stand ready to share their time, talent, and treasure to support and encourage our aspiring “Up and Coming Professionals”.

I encourage each of our “Up and Coming Professionals” to pursue the CPA certificate. It is an unmatched credential in the financial community, regardless of the type of work one does. I have never known a CPA whose certificate has not been a significant advantage in his or her professional life. My advice to our accounting students is simple - plan your curriculum so that you are ready to take the CPA exam upon completing your 150 hours! It will never be easier to achieve this valuable certification! As a graduating student, you will never be closer to the breadth of content of the CPA examination. Our profession has great opportunities for you. I also encourage you to join the KSCPA and the AICPA, the best way for you to grow as a professional and to continue the great tradition of supporting the next generation of “Up and Coming Professionals”.

We are proud of all of our “Up and Coming Professionals” and look forward to them joining the profession as active members of the KSCPA and its Educational Foundation. Warm regards, John C. Rich, CPA, Ph.D. Associate Professor, Accounting and Information Systems, Emporia State University

6

Kansas State University Stanton Weber - $1,300 Katie Campbell - $700 Anna Keith - $600 (Salina) Dakota Foos - $500 Ashley Herb - $500 Travis Holbrook - $500 Kate Lock - $500 Mattie Loder - $500 Kelsey Martin - $500 Ashley Miller - $500 Ryan Schmidt - $500 Monica Shelton - $500 Erin Smithhisler - $500 Cayla Sommers - $500 Brett Whelan - $500 Highland Comm College Matthew McNary - $500 Hutchinson Comm College Bria Jones - $900 Fort Hays State University Nikolous Rempe - $700 Manhattan Christian College Bonnie Bailey - $500

Pittsburg State University McKinley Ford - $500

High School Merit Scholarships - $11,800

6

7

Lauren Just Tabor College $2,500 John J. Killian Scholarship

Byron Bird Graduate Scholarship Kaitlin Chipman

Kansas State University $3,000

$2,250 Each

Tisha Bieker Fort Hays State University Cassandra Brownell Washburn University Jessica Everhart Kansas State University Kyle George Pittsburg State University Megan R. Hicks University of Kansas Anthony Mercer Emporia State University Kori Zey Wichita State University

$2,500 Each

Joseph Brunner Wichita State University Travis Liebl Fort Hays State University Amy McCue Kansas State University Nicole Skala Emporia State University Joel Spencer Pittsburg State University Cameron R. Walker University of Kansas Margaret Walter Washburn University

2011-2012 KSCPA SCHOLARS

Undergraduate Scholarships - $15,750

Graduate Scholarships - $17,500

7

8

The Accounting Pilot and Bridge Project – An Update from Dr. Dan Deines

“Baby Boomer” Problem

The accounting profession, like all professions, will experience a significant decline in its ranks in the next ten years as accounting professionals from the “baby boomer” generation retire. Although accounting enrollments are at record levels in 2011-12, the AICPA reported in 2008 that 75 percent of its members are expected to reach retirement age in 15 years. To replace these professionals, the accounting profession will have to compete with

Does your high school accounting class provide a meaningful “bridge” to college/university accounting?

Kansas is known for innovation, and that includes innovation in accounting education!

Dr. Dan Deines, Ph.D, CPA, KPMG Peat Marwick Faculty Fellow and Professor of Accounting at Kansas State University, is working with others to correct what has been a long-standing disconnect between high school bookkeeping classes and the college/university accounting curriculum. There is no individual more passionate about accounting and, in particular, the CPA profession than Dr. Deines. It is Dr. Deines’ mission in life to improve accounting education so that those attracted to the profession are the top students. That’s good for the profession, and that’s good for business.

The members of the KSCPA agree and so do others who make generous contributions to the The Accounting and Bridge Project. The Educational Foundation of the KSCPA was the first state society to make a donation and contributes $5,000 per year to the Project. The contributions go directly to training teachers in an updated curriculum designed to bridge students from high school accounting to the rigors of college/university accounting and ultimately to the challenging and rewarding CPA profession.

The Accounting Pilot and Bridge Project addresses the root of the problem, which is - high school accounting curriculum focuses on bookkeeping and the vocational aspects of accounting and does not prepare students for the rigors of college-level accounting. So, if you’re in a high school bookkeeping class and think that’s what it will be like in college, then you are thinking wrong.

Unfortunately, unlike programs such as engineering and the sciences that build bridges between high schools and college/universities, accounting erects systemic barriers to the very students the CPA profession wants to attract. The Project is designed to build bridges by creating a college prep accounting course for high schools and offering college credit for those students who successfully take the course and pass a rigorous qualifying examination. The fact that this approach is modeled after the College Board’s highly successful Advanced Placement program is not a coincidence. The Project’s ultimate goal is for the College Board to adopt accounting as part of its AP accounting curriculum.

9

HIGH SCHOOL

law, medicine, engineering, architecture and other professions that will also be trying to replace their “boomers”. What complicates matters is that during this period the number of high school graduates in the U.S. is expected to decline. Regardless of enrollments today, it is in the best interest of the accounting profession to address structural impediments in its educational supply chain now, if it is to compete with other professions for the declining pool of the best and brightest students in the coming years.

During the more robust economy of the 1990’s, accounting enrollments were declining and the AICPA commissioned a study to identify causes of the decline. In 2000, the AICPA’s Taylor Report found that one of the causes for the decline was the traditional high school accounting course which they described as mechanical in nature and was more akin to a bookkeeping course. More significantly, the report found that the course had such a negative impact that it was deemed a “systemic barrier” to entry into the accounting profession for high-quality students. The content of the traditional high school accounting course has remained substantially unchanged since the release of the Taylor Report.

To compound this problem in Kansas (and other states), students who take an accounting class and get an A will actually have their overall grade point decline because accounting classes are negatively weighted due to their vocational classification. In addition, accounting classes are not considered college prep courses and do not count toward college admission. Talented high school students and their parents when given a choice between enrolling in an Advanced Placement course that will boost the student’s GPA , qualify for college admission, and could possibly count toward three hours of college credit (for a fee of $86 to take the qualifying exam) will choose that course over the vocational accounting course.

To intensify this problem, even if good students show an interest in accounting, most large colleges and universities won’t allow them to take accounting courses until their sophomore year. Shouldn’t the accounting profession be part of the process that creates access to this caliber of student and can link them to college and university accounting programs?

Goal and Benefits

The Project’s overall goal is to create a college prep high school accounting course that will be adopted by the College Board and become part of their AP curriculum. Creating such a course would have the following benefits:

Build a visible link between high school accounting programs and college and university accounting programs.

Create an infrastructure that provides a long-term means of addressing the misconceptions and negative stereotype about accounting that exists among high-quality students in high schools today.

Eliminate the systemic barriers that make it unlikely for high quality (AP caliber) students to take accounting in high school. (Replace the vocational status with college prep status and have grades weighted to reflect the rigor of the course).

Give accounting professionals the opportunity to identify quality students earlier and therefore expand the supply chain of high-quality students.

Build a working relationship between high school teachers and university faculty.

Increase the diversity of students in the profession.

Progress The Project created a college-level curriculum and a qualifying exam. Students who pass the qualifying exam are given credit and a grade for the first accounting course at Kansas State University and Wichita State University, they are and allowed to take the second introductory accounting course as a first-semester freshman. To date, over 500 teachers from 37 states have been trained. In the summer of 2009, The Project trained over 100 high school teachers from over 20 states. In 2010, training sessions were held in another nine states. In 2011, training sessions were held in another eight states. The first students granted credit after taking the pilot course graduated with their accounting degree from Kansas State University. During the 2011-2012 school year, the pilot course was taught in full or in part in over 50 high schools around the United States. The liaisons with state CPA associations such as the KSCPA are critical because this builds that critical bridge to accounting education and ultimately the CPA profession.

10

Congratulations to Emporia State UniversityAccounting Alumni

School of Business Department of Accounting and Information Systemswww.emporia.edu

Major Raphael Hamilton United States Army 2008 Elijah Watts Sells Award Pursuing a Ph. D. at Syracuse

BSB – Accounting (1995)Emporia State University

Jason BakerWestern State Bank - Garden City

High Score in Kansas on the CPA Examination in the Final Exam Window of 2010

BSB (2008) and MBA – Accounting Concentration (2009)Emporia State University

DISCOVER WHAT IT MEANS TO BE EMPOWERED BY

Business Leaders Belong Here!tabor.eduvisit us at

Tabor.edu / Facebook / 800-822-6799

Decidedly Christian • Hillsboro, Kansas Tabor College

Grant Thornton LLP, the U.S. member of Grant Thornton International Ltd, is an equal opportunity employer.

Why stop at one goal?

Every day I make a differenceAt Grant Thornton, we understand that you’re just as driven to reach for your dreams outside of work as you are at the office. That’s why we’ve built a culture of flexibility that helps you make time for what’s important — to you. If you’re looking for a firm that understands that you never stop at one goal, Grant Thornton is the place for you.

Visit www.GrantThornton.jobs today and find out what it’s like to work with people who make a difference!

8300 Thorn Drive, Suite 300Wichita, KS 67226316.265.3231

11

It takes more than solid financial planning to protect your money. It takes aggressive, methodical, transparent accountants to equip your business with the armor to defend itself and the clarity to prosper. At Kennedy and Coe, our accomplished accounting and consulting arsenal will turn your business’ dollar from hard-earned to hard-kept.

For genuine fiscal success, go to www.kcoe.com or call 800.303.3241.

KAC0005 Lincoln_KSPCAAnnual_fp.indd 1 3/2/12 11:05 AM

12

Navigating the Passageway to Obtaining a Kansas CPA Certificate and Initial Permit to Practice as a CPA

Are you preparing for a career as a CPA? It’s not easy to become a CPA, but the rewards are many!

You’ve graduated from high school and decided

to be an accounting major. As you start your coursework, it’s a good idea to check out what it takes to become a CPA. Unlike a physician who must have a license to practice medicine, you do not have to be a CPA to work as an accountant. Being a CPA, however, indicates that you are at the top of your chosen profession.

You are no doubt aware that in order to become a CPA you must pass the “CPA Exam.” There are specific qualifications you must meet to sit for the CPA exam, and these qualifications differ depending on the state (called “jurisdictions,” and there are 55). Where you land that first job may be the jurisdiction where you take the exam. Obviously, if you attend a Kansas college or university and intend to work in Kansas, it’s easy - just follow the requirements of the Kansas Board of Accountancy (KSBOA) (www.ksboa.org). Kansas Board of Accountancy The Kansas Board of Accountancy (KSBOA) is the regulatory body of the State of Kansas that is charged with the responsibility to carry out the laws and the regulations governing CPAs in Kansas. The KSBOA is a member of the National Association of State Boards of Accountancy (NASBA) www.nasba.org. The NASBA website is a great resource of information about the CPA exam and contains links to the jurisdictions to which you can apply to take the examination.

The KSBOA’s responsibility includes overseeing applications to sit for the CPA exam, accepting the exam scores, awarding CPA certificates, issuing permits to practice and firm registrations, and handling complaints and disciplinary actions. The KSBOA is made up of a Board of Directors of five CPAs and two

public members. Each director serves a three-year, renewable term. The directors are appointed by the Governor. The Executive Director of the KSBOA manages the day-to-day operations. Susan Somers is the Executive Director of the KSBOA, and she is an excellent resource of information as you work your way through to becoming a CPA.

The Uniform CPA Exam In Kansas, to be eligible for the initial examination or re-examination, you must be a resident or have a place of business as a public accountant in, or be permanently employed by a public accounting firm in Kansas. Exam candidates can submit their applications to CPA Examination Services, the Board’s designee for exam applications, no sooner than eight (8) weeks prior to the completion of the educational requirements.

The CPA exam is a uniform examination and is now available internationally. The structure, format, and even the timing of taking the CPA exam have changed drastically over the past decade. Here are a few of the current key components:

The CPA Exam is in an all computerized format.

Aspiring CPAs can take the exam one section at a time at many different times of the year. Every three months constitutes a “testing window” in which the exam is offered on demand during the first two months of the testing window, with the third month being reserved for grading exams.

The four sections of the CPA Exam are Financial (FAR), Audit (AUD), Regulation (REG), and Business Environment and Concepts (BEC). FAR takes 4 hours; AUD – 4 hours; REG – 3 hours; BEC – 3 hours. A minimum score of 75 is required to pass each section of the exam.

Navigating the Passageway to Obtaining aKansas CPA Certificate and Initial Permit to Practice as a CPA

13

Navigating the Passageway to Obtaining a Kansas CPA Certificate and Initial Permit to Practice as a CPA

Are you preparing for a career as a CPA? It’s not easy to become a CPA, but the rewards are many!

You’ve graduated from high school and decided

to be an accounting major. As you start your coursework, it’s a good idea to check out what it takes to become a CPA. Unlike a physician who must have a license to practice medicine, you do not have to be a CPA to work as an accountant. Being a CPA, however, indicates that you are at the top of your chosen profession.

You are no doubt aware that in order to become a CPA you must pass the “CPA Exam.” There are specific qualifications you must meet to sit for the CPA exam, and these qualifications differ depending on the state (called “jurisdictions,” and there are 55). Where you land that first job may be the jurisdiction where you take the exam. Obviously, if you attend a Kansas college or university and intend to work in Kansas, it’s easy - just follow the requirements of the Kansas Board of Accountancy (KSBOA) (www.ksboa.org). Kansas Board of Accountancy The Kansas Board of Accountancy (KSBOA) is the regulatory body of the State of Kansas that is charged with the responsibility to carry out the laws and the regulations governing CPAs in Kansas. The KSBOA is a member of the National Association of State Boards of Accountancy (NASBA) www.nasba.org. The NASBA website is a great resource of information about the CPA exam and contains links to the jurisdictions to which you can apply to take the examination.

The KSBOA’s responsibility includes overseeing applications to sit for the CPA exam, accepting the exam scores, awarding CPA certificates, issuing permits to practice and firm registrations, and handling complaints and disciplinary actions. The KSBOA is made up of a Board of Directors of five CPAs and two

public members. Each director serves a three-year, renewable term. The directors are appointed by the Governor. The Executive Director of the KSBOA manages the day-to-day operations. Susan Somers is the Executive Director of the KSBOA, and she is an excellent resource of information as you work your way through to becoming a CPA.

The Uniform CPA Exam In Kansas, to be eligible for the initial examination or re-examination, you must be a resident or have a place of business as a public accountant in, or be permanently employed by a public accounting firm in Kansas. Exam candidates can submit their applications to CPA Examination Services, the Board’s designee for exam applications, no sooner than eight (8) weeks prior to the completion of the educational requirements.

The CPA exam is a uniform examination and is now available internationally. The structure, format, and even the timing of taking the CPA exam have changed drastically over the past decade. Here are a few of the current key components:

The CPA Exam is in an all computerized format.

Aspiring CPAs can take the exam one section at a time at many different times of the year. Every three months constitutes a “testing window” in which the exam is offered on demand during the first two months of the testing window, with the third month being reserved for grading exams.

The four sections of the CPA Exam are Financial (FAR), Audit (AUD), Regulation (REG), and Business Environment and Concepts (BEC). FAR takes 4 hours; AUD – 4 hours; REG – 3 hours; BEC – 3 hours. A minimum score of 75 is required to pass each section of the exam.

There are six or seven specific task-based simulations.

A writing component is contained in the BEC section of the exam in the form of three written communication tasks, and these are used to ensure that newly-licensed CPAs can communicate clearly and effectively in a business setting. Before you get too excited about taking the CPA

exam, there is the long road of taking the required courses and earning 150-hours of education with a “concentration in accounting.” All of this information is available on www.ksboa.org, so it is important that you familiarize yourself with the requirements and design your curriculum accordingly. Additionally, most aspiring CPAs take a review course to help prepare and increase the probability of passing. The CPA Certificate and Permit to Practice In Kansas, the CPA license is referred to as a “permit to practice.” Kansas is one of a handful of “two-tiered states.” You must obtain a CPA certificate before applying for a permit to practice. The certificate does not allow you to practice or hold out as a CPA to the public. A certificate does, however, allow you to become a voting member of the Kansas Society of CPAs (KSCPA) and the American Institute of CPAs (AICPA). To receive a CPA certificate, you first must pass the CPA examination in Kansas (or by reciprocity). You complete an application which includes questions about your successful completion of the AICPA professional ethics examination and that you will abide by the code, as well as questions that ascertain whether you are delinquent in filing or paying your taxes and if

you have been convicted of a crime. A certificate-holding CPA must file a separate

application and a “Certificate of Experience” form to receive a permit to practice. CPAs can obtain a permit to practice with one year of accounting experience providing any type of service or advice using accounting, attest, compilation, management advisory, financial advisory, tax or consulting skills, all of which is verified by a CPA holding an active license to practice, gained through employment in government, industry, academia, or public practice.

Keep in mind that the process of earning a CPA permit in Kansas or license in another state is constantly evolving. The conditions under which many of the KSCPA members earned the CPA are far different from those facing today’s aspiring accounting professionals. So, it is important that you stay abreast of what the requirements are in Kansas or where ever you wish to work. There is a fee associated with each application.

Once the permit is received, it needs to be maintained. The code of ethics must be abided by, permit renewal must occur on time and continuing professional education requirements met. It is highly recommended that you maintain your permit over your lifetime. If you do perform attest services, you will be required to comply with the quality control standards and may be subject to peer review. CPA Has Many Rewards It’s probably now fairly obvious that it is not easy to become a CPA, however, the rewards, including financial and job stability, are many. As a permit-holding CPA, you can work in a public accounting firm in a variety of areas, including auditing. You can obtain a job in business and industry, consulting, government,

and education. CPAs operate their own CPA firms or other businesses. Many people are under the impression that CPAs are “tax people.” Granted, many CPAs focus on taxation and audit. The opportunities, however, are literally endless. The CPA is probably the most widely recognized certification. CPAs are part of one of the most respected professions which has earned a reputation as the “most trusted advisor.”

COLLEGE

14

Kansas Accounting Programs

BAKER UNIVERSITYBaldwin City, KS

Degrees Offered: Bachelor of Arts in Accounting

BENEDICTINE COLLEGEAtchison, KS

Degrees Offered:Associate of Arts in AccountingBachelor of Arts in Accounting

MBA (Accounting Concentration)

FORT HAYS STATE UNIVERSITYHays, KS

Degrees Offered:BBA in Accounting

MBA (Accounting Concentration)

FRIENDS UNIVERSITYWichita, KS

Degrees Offered:Bachelor in Accounting

BBA in AccountingMBA in Accounting

EMPORIA STATE UNIVERSITYEmporia, KS

Degrees Offered:Bachelor of Science in Accounting

MBA (Accounting Concentration)

KANSAS STATE UNIVERSITYManhattan, KS

Degrees Offered:Bachelor of Science in Accounting

Master of Accountancy

BETHANY COLLEGELindsborg, KS

Degrees Offered:Bachelor of Arts in Accounting

UNIVERISTY OF KANSASLawrence, KS

Degrees Offered:Bachelor of Science in Business (Accounting)

Master of AccountancyDoctor of Philosophy in Accounting

CENTRAL CHRISTIAN COLLEGEMcPherson, KS

Degrees Offered:Bachelor of Science in Business

HESSTON COLLEGEHesston, KS

Degrees Offered:Associate of Arts in Accounting

www.bakeru.edu

www.benedictine.edu

www.bethanylb.edu

www.centralchristian.edu

www.emporia.edu

www.fhsu.edu

www.friends.edu

www.hesston.edu

www.ku.edu

www.k-state.edu

… From Bachelor’s to Ph.D – Earn Your Degrees in Kansas

14

15

WICHITA STATE UNIVERSITYWichita, KS

Degrees Offered:BBA in Accounting

Master of Accounting

TABOR COLLEGEHillsboro, KS

Degrees Offered:BBA in AccountingMBA in Accounting

NEWMAN UNIVERSITYWichita, KS

Degrees Offered:Associate of Science in AccountingBachelor of Science in Accounting

PITTSBURG STATE UNIVERSITYPittsburg, KS

Degrees Offered:BBA in AccountingMBA in Accounting

OTTAWA UNIVERSITYOttawa, KS

Degrees Offered:Bachelor of Arts in Accounting

Graduate Certificate in Professional Accounting

SOUTHWESTERN COLLEGEWinfield, KS

Degrees Offered:Bachelor of Science in Accounting

WASHBURN UNIVERSITYTopeka, KS

Degrees Offered:BBA in AccountingMBA in Accounting

MIDAMERICA NAZARENE UNIVERSITYOlathe, KS

Degrees Offered:Bachelor of Arts in Accounting

STERLING COLLEGESterling, KS

Degrees Offered:BBA in Accounting

UNIVERSITY OF SAINT MARYLeavenworth, KS

Degrees Offered:Bachelor of Science in Accounting

KANSAS WESLEYAN UNIVERSITYSalina, KS

Degrees Offered:Bachelor of Arts in Accounting

Master of Business Administration

MCPHERSON COLLEGEMcPherson, KS

Degrees Offered:Bachelor’s Degree in Business Administration

www.kwu.edu

www.mcpherson.edu

www.mnu.edu

www.newmanu.edu

www.ottawa.edu

www.pittstate.edu

www.stmary.edu

www.sckans.edu

www.sterling.edu

www.tabor.edu

www.washburn.edu

www.wichita.edu15

16

NEW CPAs

Do you think you chart only one course once you earn the coveted CPA?

Think Again – the opportunities are exciting and endless.

After jumping through all the hoops to become a CPA, you may think this is the be-all and end-all of the accounting profession. Yes, in some respects, you do have the world by the tail, but if the truth be known, you only have a toehold in the profession, or a whole foot in the door. Which means this is no time to relax.

That’s not to say you need to work 24 by 7 and forget about having a “life.” No, what it means is this is a good time to start thinking about an area of specialization within the CPA universe. In addition to deciding if you’d rather work in a big firm or small, in industry or government or somewhere else, you need to consider where you want to focus your energy because the amount of knowledge needed to succeed in any area is massive.

Personal Financial Planning Information Technology Forensic Accounting Business Valuation Taxes Audit

Government Non-profit / Education Assurance Services Environmental Accounting International Accounting Management Accounting

Specializations give you a great way to steer your career path toward something that’s in great demand, something that could be of help on the ladder of success, or something that you’ve always been interested in.

This might lead you toward an additional credential with some additional letters after your “CPA” – and some extra value in the eyes of your employer or clients. The CPA and a specialty credential gives you that identity you need to flourish and puts you in a group of high-achieving professionals with whom you’ll create relationships and learn from in the years ahead.

Fortunately, both the KSCPA and the AICPA offer all kinds of resources to help you make the most of your opportunities in these practice areas, including community portals, special programs, networking events, education, task

forces, and committees, to name a few. You’ll find other CPAs to interact with who’ve been there, done that and lived to talk about it. If you are interested in taxes or audit, join a task force at the KSCPA, or attend one of our conferences, learn more about the area, and meet the leaders. Look for a mentor, and ask him or her to help you down the path to obtaining a credential, if that’s what you want. There’s no shortage of help – CPAs are generous with their knowledge and eager to help young professionals grow.

Here’s a brief overview of some of the useful information about credentials available to AICPA members.

Information Technology - CITP The combination of technology and financial information is a match made in heaven and technology is interwoven into everything a CPA does, no matter what the area of specialization. Even so, managing that match – in the face of technological advances and financial complexity – can be a tricky business. The Certified Information Technology Professional credential (CITP) is a designation that demonstrates one’s ability to bridge technology to the business world. Many CPAs work as information systems consultants; are systems managers in companies; consult as project managers; or even land that primo job as chief information officer of a large corporation. If you want to get involved in technology and hang around those who do – become a CITP.

Forensic Accounting - CFF If you are innately curious, inquiring, and inquisitive -

the Certified in Financial Forensics (CFF) is probably

suited to your personality. Many liken the forensic accountant to a private investigator who uncovers important clues to help piece together a puzzle. Many CPAs who work in forensic accounting have an auditing background, so if you tend to enjoy audit more than tax or assurance work, then you would enjoy using your analytical skills to uncover critical information.

Personal Financial Planning - PFS Offering estate planning, retirement, investment, and insurance advice is a natural extension for a CPA. The Personal Financial Specialist (PFS) credential integrates tax expertise with financial planning. If you care about the well-being of people and enjoy seeing others live their life-long

dreams, then personal financial planning is ideal. You get to help clients achieve their investment goals and plan for their retirement and develop life-long relationships. The basis for any PFS is a thorough knowledge of personal and corporate taxation.

Business Valuation - ABV CPAs who are Accredited in Business Valuation (ABV) have the ability to determine “value” based on cost, usability, application, and several other variables. Depending on what your clients do and where the businesses are located, you could work in just about any environment because you have to analyze the business in its entirety. Many CPAs specializing in business valuation also specialize in litigation consulting which is exciting and challenging. Although the two areas are completely separate, they interrelate when you are hired to testify in court as an expert witness based on the business valuation work or about the work done by someone else.

Management Accounting - CGMA The Chartered Global Management Accountant (CGMA) is the newest designation offered to members of the

AICPA who have experience in Business & Industry or in the

management of accounting practices, government, or education. CGMAs combine financial expertise and business acumen to achieve sustainable business success. They understand how the different parts of the business need to come together. While many CGMAs work in the finance department, others put their broader business training to use across the organization, including the roles of Board Director, Chairman and CEO.

Specialization is a growing trend, not only in accounting, but throughout all professions. Companies and organizations want their talent to drive their businesses forward, improve profitability and enhance their reputation.

As a young CPA, you may not yet know where you want to chart your course – and that’s OK! Your firm or company, however, is probably investing time and resources into offering you a career path that not only helps them retain customers and clients, but also makes you a happy and satisfied employee. Just as you had to eventually choose a major in college, you probably will need to decide if you’ll become a specialist, and which one of many areas to pursue.

While you won’t have to take a Myers-Briggs or DISC evaluation to figure out which specialty or credential is for you, consider and assess your options carefully. Talk with your peers who already specialize in any of these areas. Your future in your organization can’t be taken for granted. The time spent drilling deep into any one area will be time well spent.

17

Where do you want to go? Maybe you want

to show banks how to boost profit margins or help

hospitals operate more efficiently. With BKD, a national

CPA and advisory firm, you’ll find your future. We offer

interns and new staff accountants the opportunity to

work side by side with industry professionals, helping

you increase your technical knowledge and client service

skills. You have lots of choices. Take a closer look and

experience what BKD offers.

Find out more here:

Follow us Visit usBecome a fan Watch us

Jenifer Applegate is a supervisor in BKD’s Wichita office. Take a closer look at her experience at BKD.com/Jenifer.

Take a closer look

Wichita 316.265.2811 Kansas City 816.221.6300

dreams, then personal financial planning is ideal. You get to help clients achieve their investment goals and plan for their retirement and develop life-long relationships. The basis for any PFS is a thorough knowledge of personal and corporate taxation.

Business Valuation - ABV CPAs who are Accredited in Business Valuation (ABV) have the ability to determine “value” based on cost, usability, application, and several other variables. Depending on what your clients do and where the businesses are located, you could work in just about any environment because you have to analyze the business in its entirety. Many CPAs specializing in business valuation also specialize in litigation consulting which is exciting and challenging. Although the two areas are completely separate, they interrelate when you are hired to testify in court as an expert witness based on the business valuation work or about the work done by someone else.

Management Accounting - CGMA The Chartered Global Management Accountant (CGMA) is the newest designation offered to members of the

AICPA who have experience in Business & Industry or in the

management of accounting practices, government, or education. CGMAs combine financial expertise and business acumen to achieve sustainable business success. They understand how the different parts of the business need to come together. While many CGMAs work in the finance department, others put their broader business training to use across the organization, including the roles of Board Director, Chairman and CEO.

Specialization is a growing trend, not only in accounting, but throughout all professions. Companies and organizations want their talent to drive their businesses forward, improve profitability and enhance their reputation.

As a young CPA, you may not yet know where you want to chart your course – and that’s OK! Your firm or company, however, is probably investing time and resources into offering you a career path that not only helps them retain customers and clients, but also makes you a happy and satisfied employee. Just as you had to eventually choose a major in college, you probably will need to decide if you’ll become a specialist, and which one of many areas to pursue.

While you won’t have to take a Myers-Briggs or DISC evaluation to figure out which specialty or credential is for you, consider and assess your options carefully. Talk with your peers who already specialize in any of these areas. Your future in your organization can’t be taken for granted. The time spent drilling deep into any one area will be time well spent.

18

Master of Business Administration (MBA) Accounting and ERP ConcentrationsComplete your education while qualifying and preparing for the Certified Public Accountant Examination or preparing to be an Enterprise Resource Planning (ERP) professional.

For more information: Director of the MBA program, School of Business n Box 4059, 1200 Commercial St., Emporia, KS 66801

620-341-5456 n email: wbarnes@emporia.edu n www.emporia.edu

The ESU MBA Accounting Concentration not only prepared me for the specific technical skills required for a profession in accounting, but gave me a better perspective of how the accounting function fits into the overall strategy and operations of a company. As my career has developed, I have noticed that the latter has been increasingly important.

Jeff L. JohnsonTax Director, Deloitte and Touche, LLPBSB (1997) and MBA – Accounting Concentration (1999) Emporia State University

I consider the Emporia State University MBA program one of the most rewarding experiences of my life. During my studies at ESU, I grew professionally and personally. I also developed wonderful relationships with my professors and fellow students and learned more than I could have imagined. Professors in the MBA program were supportive and flexible throughout my studies, and I was instantly welcomed by faculty, staff and students.

Orson ThomasAudit Assistant, Deloitte & Touche, LLPBA – Tabor College (2009), MBA – Accounting and ERP Concentrations (2011) Emporia State University

DISCOVER WHAT IT MEANS TO BE EMPOWERED BY

Thank you to the Allen, Gibbs & Houlik, L.C. employees who have helped our clients build and preserve their wealth for years...

and to those who will serve for years to come.

Based on employee surveys and benefit data, Allen, Gibbs & Houlik, L.C. (AGH) was named one of the top 100 Accounting Firms to Work For nationally. In Wichita, employee feedback placed AGH as a finalist in the Wichita Business Journal’s Best Places to Work Awards four different years.

19

Charles Allen

Kelsey Allen

Kayla Almond

Patrick Amos

Carter Atkins

Cody Bain

Jordan Bates

Stephanie Beach

Brett Behrends

Craig Beougher

Stephen Blumhardt

Carl Bonner

Brent Bradbury

Tyler Brown

Mark Browne

Adam Browne

Christopher Cahill

Robert Carr

Steven Collette

Kayla Comer

Kevin Cooper

Nathaniel Cordell

Tamara Creek

Tyler Crow

Ashley Davis

Brenda Dehn

Ryan Drigans

Nicole Ebenhack

Nicholas Eck

Daniel Eveloff

Sara Fairbank

Matthew Fellows

Vicki Fessler

Blake Fiene

Christopher Foster

Erin Fox

Joy Free

Travis Free

Matthew Fuchs

Nicholas Gammill

Nathan Garcia

Patrick Gilligan

Jeffrey Goldstein

Kendra Gonzales

Lelanda Goyer

Nathan Graf

Paula Harms

Kathryn Hauser

Alexandra Hedrick

Stacy Heinen

Ryan Herrman

Richard Hickey

Kristoffer Holm

Bradley Hope

Aaron Howard

Katherine Kastner

John Kihm

Daniel Kopshinsky

Sarah Kongs

Amy Latta

Carmen Lui

Nina Luo

Kelli Mack

Sadye Mages

Adam Manlove

Brian Mapel

Stephen Martinat

Zachary Mastroly

Daniel McKinzie

Stephanie McNish

Julie Miller

Josie Mitchell

Michael Moore

Ashly Mosttler

Tammy Ngo

Stephanie Nott

Jennifer Obar

Elizabeth O’Halloran

Samantha Orr

Alicia Oswald

Candi Owens

Jayme Painter

Rebecca Pfannenstiel

Adam Pfautsch

Alysha Phillips

Mitchell Plummer

Rexana Prater

Jedidiah Presley

Aaron Proctor

Kun Qui

Bonnie Quick

Melanee Radenberg

Julie Raymond

Erin Renfro

Scott Richter

Aleksandra Robertson

Aaron Rogers

Harold Roraback

Bryan Rosner

Graham Ryan

Matthew Schippers

Jessica Schmiedbauer

Jessica Schrick

Nikole Schroeder

Rebecca Shaw

Emily Sheldon

Jonathan Shulteis

Racheal Singleton

Jacqueline Smith

Andrew Spikes

Ryan Staub

Eric Stehm

John Steyer

Alyson Stockton

Jeffrey Stolper

Chet Stone

Brenna Strahm

Brittany Straub

Julie Sugg

Brian Thies

Christeen Thomas

Bonnie Toplikar

Stephen Tubbert

Elijah Tuttle

Matthew Tuxhorn

Keysha Urie

Amy Vannice

Knox Varela

Benjamin Walker

Adrian Webb

Tabitha Weigel

Justin Whitney

Nicole Witt

Justine Whitehurst

Catherine Woods

Kara Young

Laura Zellers

19

20

KSCPA Chapters Recognize New CPAs at January DinnersCongratulations to the 2011 CPA Passers!

20

METRO, WICHITA, AND NORTHEAST CHAPTERS HOST EVENTS

GOLD KEY WINNERS

Adam Manlove

David Kihm

YOUR GOALS AND ASPIRATIONS ARE WITHIN YOUR REACH.A career in accounting can offer exciting opportunities. We can help you sort out some of the deci-sions you’ll need to make. We offer opportunities for college students to gain real-world knowledge from accounting professionals. Our professionals are willing to help answer questions and discuss the different career options that are available. At SS&C you will be a part of something special. We are a forward thinking family of companies that can offer you a variety of experiences which you may not find at a traditional CPA firm. If you are interested in being a future member of the SS&C family please visit our website, www.SSCcpas.com.

Topeka n Lawrence n Lenexa n Meriden785.272.4484 n www.SSCcpas.com

21

KSCPA Chapters Recognize New CPAs at January DinnersCongratulations to the 2011 CPA Passers!

21

Adam Manlove

22

Kansas State University’s College of Business Administration o�ers high quality accounting programs with the training you need to succeed in the real world. From high school through grad school we are helping students create their path to a successful future.

Accounting Pilot and Bridge Project | Bachelor of Science in Accounting | Master of Accountancy

cba.k-state.edu 785-532-6184109 Calvin Hall, Kansas State University, Manhattan, KS 66506

College of Business Administration

23

“Where CPA means Close Personal Attention to our clients”

Hays Office209 East 13th StP.O. Box 40Hays, KS 67601Main Number: (785) 628-8238

Garden City Office 302 Fleming St Ste 6Garden City, KS 67846

Main Number: (620) 275-9263

405 N. Sixth St., P.O. Box 699 | Garden City, KS 67846 | P: 620-275-9267 | F: 620-275-8936 | www.lhd.com

Serving the Garden CityCommunity for Over 50 Years

• Technology Services• Human Resources• Fraud Prevention and Examination

• Accounting and Assurance• Tax Planning and Compliance• Personal Financial Consulting• Business Consulting

Seth AlbinAccounting ’05 and MBA ’07

Call or click:800-628-FHSU or 785-628-5805www.fhsu.edu/efa

Congratulations Consider earning your college degree at Fort Hays State University. Accounting degrees are offered within the Department of Economics, Finance and Accounting and under the College of Business and Leadership.

• BBA in Accounting• BBA in Accounting, Public Accounting Concentration• MBA with an Accounting Concentration

to Fort Hays State University’s

as one of the

2010 Sells Award winners

www.bhcpa.com

24

YOUNG PROFESSIONAL CPAs - LEADERS OF THE

25

KSCPA “20 up to 40” Sponsors Make the Possibilities - Possible“Four years ago, the “20 up to 40” leadership program was only a vision – a dream of the KSCPA leadership. It became a reality and grew into a hugely successful program for which the leadership is most proud. The risk that these sponsors take to support the program is reaping rewards: 80 young professionals are becoming leaders of our profession. These sponsors understand the need to secure the future of the KSCPA and our profession and accepted responsibility for the program.” - Mary Rapp MacBain, President/CEO, KSCPA

To find out more about the program, go to: www.kscpa.org/members/20_up_to40.

4 Year Sponsors

2618

PermanentlyUnrestricted Restricted Total

Assets 2011 2010 Revenue and support:Current assets: Assessments KSCPA members 63,413$ -$ 63,413$

Cash and cash equivalents 6,669$ 15,379$ Incentive programs 1,316 - 1,316 Investments 318,421 284,251 Investment income (loss) 20,501 - 20,501 Due from KSCPA 14,151 1,391 Contributions 10,800 6,325 17,125

Total current assets 339,241$ 301,021$ Total revenue and support 96,030$ 6,325$ 102,355$ Restricted cash, cash equivalents 30,374 10,006 Expenses:Restricted investments 15,951 29,994 Program services:

46,325$ 40,000$ Scholarships 50,550$ -$ 50,550$ Total assets 385,566$ 341,021$ Faculty grants 4,200 - 4,200

Liabilities and Net Assets Supporting services:Total Current liabilities: -$ -$ Accounting and audit 3,000 - 3,000 Net assets: Miscellaneous 60 - 60

Unrestricted 339,241 301,021 Total expenses 57,810$ -$ 57,810$ Permanently restricted 46,325 40,000 Change in net assets 38,220$ 6,325$ 44,545$

Total net assets 385,566 341,021 Net assets, beginning of year 301,021 40,000 341,021 Total liabilities and net assets 385,566$ 341,021$ Net assets, end of year 339,241$ 46,325$ 385,566$

Statement of Activities (Unaudited)THE EDUCATIONAL FOUNDATION OF THE KANSAS SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

Year Ended August 31, 2011Statements of Financial Position (Unaudited)

August 31, 2011 and 2010

The Educational Foundation Supported by the Members of the Kansas Society of CPAs The Educational Foundation of the KSCPA is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and is primarily supported by the members of the KSCPA through an annual assessment of $20 each. Members voluntarily donate additional amounts.

Assets in a TC and Trella Anderson endowment are from contributions to the Foundation when TC Anderson, the former Executive Director of the KSCPA, retired and from the proceeds of ethics courses taught by Jim Clark, CPA, past president of the KSCPA and past chair of the Foundation. These assets are permanently restricted, with income used for scholarships.

Assets of the Foundation are used solely to achieve the purpose of the Foundation with the primary administrative expense being the annual compilation prepared by a member-owned CPA firm.

The KSCPA members are proud of their involvement in the colleges and universities across the state of Kansas and look forward to continuing their long-standing support.

Members and other organizations who contributed additional amounts to the

Foundation during the 2010-2011 fiscal year are: Mindy M. Barbour James K. Boomer Cindy M. Bowers Jerry R. Braden Susan E. Brown John H. Bruckner Trisha A. Cavanaugh Donald W. Chesser James T. Clark James W. Deskins

Carolyn C. George Robert W. Greenfield Lanny Gridley Linda K. Gwaltney Reid R. Hash DeAnn A. Hill Jeffrey J. Koch David E. Leopold Richardson F. Lynn Wilma L. Magnifico Mary J. McCann

Susan E. McFarren Kathryn J. Mitchell Cecil R. Miller Jere Noe David A. O'Dell Jon P. Parman David L. Roskam Jaymie Rothrock Kenneth Selzer Clark D. Stewart William B. Taylor

Members of the KSCPA Metro Chapter

Members of the KSCPA Northeast Chapter

Members of the KSCPA Western Chapter

Robert Half, Inc.

26

2727

28

Explore Our Latest Gift to Accountants: Free, Accountant-Customizable Client Tools

Explore unique tools designed for accounting professionals who have clients with payroll, health care reform, and human resource questions. These tools provide the information clients seek while saving you time and hassle. It’s just one more way we make it a sound business decision to partner with Paychex. Online Tools

Explore.paychex.com This micro website links you – and your clients – to Paychex for tools that may generate value. This site allows your client to explore the benefits of payroll outsourcing by way of fast-read information, helpful links, and video. Use this interactive site to educate your clientele on outsourcing and the benefits it may provide to their business. Client Communication Tools Access innovative tools at explore.paychex.com to enjoy easy, “ready-made,” and customizable messages for you to send to clients. This site allows you to quickly and proactively demonstrate your value as a trusted advisor by providing examples of efficient ways to respond to client inquiries on the most current payroll and HR legislative topics. There are firm-customizable e-mailers, banners for your own website, helpful links, and more, to help you make a great impression with your clients.

Interactive Resource Center

Health Care Reform Paychex Insurance Agency is closely monitoring Health Care Reform, one of the most influential pieces of legislation in the industry to date, and making it easier for you to help educate and assist your clients to act on requirements, as their most trusted business advisor. Visit www.paychexinsurance.com/healthcarereform/accountant-resources.aspx as a source for knowledge, tools, web seminars, real-time health care reform email alerts, small business tax credit estimator, customizable health care reform brochures, and many other resources to help educate your clients and help to prepare for the short- and long-term impacts of this legislation.

Take time to explore our innovative resources that will help you to meet and exceed your clients’ expectations.

For more information, please contact: ● 913 814-7776 ext. 40612 ●

Publication date: July 2011. The material contained above is current only as of the date of publication. These materials are for informational purposes only. They are not legal advice and should not be relied on as such. You should contact your attorney to obtain advice with respect to any particular issue or problem.

29

Volunteer for Church Treasurer DutiesEdgerton United Methodist Church

EUMC is a small church in Southwest Johnson County that is looking for and active OR retired accountant that could volunteer their duties to act as our Church Treasurer.

We would be glad to provide a more detailed outline of those duties upon request. The time required would be a few hours per week as the Church Adm. Asst. is responsible for paying and writing checks for Church bills.

Please do not hesitate to contact the contact person with additional questions or concerns.

Larry Yocom-Finance Chair(913) 522-0113yocomll@earthlink.net

Corridor InfraTrust Management, LLCAccounting Associate

Corridor InfraTrust Management, LLC, a Mariner Holdings related company, is an asset manager specializing in financing the acquisition or development of real property infrastructure assets. We provide capital to operating partners through Infrastructure REIT or “InfraTrust” financing.

We are currently searching for qualified candidates to join our organization as an Accounting Associate in the Kansas City area.

Responsibilities:• Prepare journal entries related to asset acquisitions• Prepare journal entries for administrative and overall fund

maintenance• Review invoices for proper coding• Prepare billing statements• Prepare balance sheet, profit and loss statements and other

financial reports• Assist with budget and forecast preparation• Assist with quarterly REIT qualification testing processes• Prepare account reconciliations as needed

Qualifications:• Bachelor’s Degree in Accounting• 2-5 years’ experience as an accountant, has journal entry

experience • Proficient in Excel and financial analysis • Experienced at financial statement creation• Understands the basics of performing REIT asset and

income testing• Independent and self-driven individual capable of big

picture conceptualization and problem solving

We welcome your interest in being a part of the Corridor InfraTrust team. We offer our associates an innovative and challenging place to work with camaraderie and teamwork. We are a growth-oriented, entrepreneurial culture that respects people and values talent, experience and ambition. Qualified candidates may submit a resume and cover letter to careers@mariner-holdings.com. EOE

Personalized Executive Coaching- Rich Drinon

Improve your ability to lead, manage or sell. Gain greater expertise for building relationships, achieving results, navigating change and making decisions. Receive affordable, personalized executive coaching. Conducted statewide by phone or via skype. In-person sessions offered in Topeka. Rich Drinon, M.A. is a highly experienced leadership trainer and executive coach. Over the past 24 years he has consulted with hundreds of organizations and individual executives throughout the U.S. and Canada. Rich conducts the Drinon’s Leadership Express program for KSCPA, and has been a speaker at numerous KSCPA meetings over the years.

Rich Drinon785-640-9936rdrinon@sbcglobal.net

The Federal Savings Bank Staff Accountant

Performs a full range of accounting, cash management and operational duties. Provides financial information to management by researching and analyzing accounting data and prepares reports. Assists management in connection with the annual financial statement, regulatory, ACH, BSA & IT audits. Ideal candidate is a CPA with 2 years’ experience. Must be a self-starter, multi-tasker, accountable, reliable, and able to work in a fast-paced and changing environment.

In MemoriamMax Calvin RankinOctober 12, 1915-February 6, 2012From the Wichita Eagle:

Max Calvin Rankin, 96, passed away Monday, February 6, 2012. Max retired from F.B. Kubik and Co. He was a Life Member of the KSCPA, having joined in 1949. Max will be greatly missed!

George U. LandisDecember 24, 1930-February 20, 2012From the Wichita Eagle:

George Landis, 81, partner of Landis & Woods, P.A., CPA, and former Marine, passed away February 20, 2012. He was a Life Member of the KSCPA, having joined in 1963. George will be greatly missed!

30

JERRY CAPPS, CPAFrom Wichita Business Journal: Jerry Capps, Wichita, has been promoted to senior vice president at Allen, Gibbs & Houlik LC. Congratulations, Jerry!

BARBARA PLATTNER, CPAFrom Marks Nelson Vohland Campbell Radetic: Barbara Plattner, Kansas City, has been promoted to Partner in the Tax Services Department. Barbara joined the firm in 2010 as a Senior Tax Manager. Prior to working at MarksNelson, she served as a director in the tax department for CBIZ/MHM and as Senior VP/CFO for Bernstein-Rein Advertising Agency. Congratulations, Barbara!

MIKE LOWRY, CPAFrom the Wichita Eagle: Mike Lowry, Wichita, has been promoted from manager to senior manager in the assurance department of Allen, Gibbs & Houlik LC. Congratulations, Mike!

JANICE A. MARKS, CPAFrom the Kansas State University Alumni Association Janice A. Marks, Manhattan, was one of 12 distinguished Kansas State University alumni honored as 2012 Alumni Fellows. Janice returned to campus to discuss current trends and to meet informally with students and faculty. The Fellows were chosen based on their high levels of professional accomplishment and distinguished service in their respective careers. Janice is the CEO of Varney and Associates CPAs, LLC. Congratulations, Janice!

GARY L. POORE, CPA Gary Poore, Wichita, has Wichita, has ended his term on the KSCPA Ethics Committee. Gary has served on the committee since 2006. He has also served on numerous other KSCPA committees and was a past president. Thank you for your service Gary!

SHAWN SULLIVAN, CPAFrom Wichita Eagle: Shawn Sullivan, Wichita, has been promoted from vice president to senior vice president in the tax department at Allen, Gibbs & Houlik LC. Congratulations, Shawn!

RICK TUXHORN, CPAFrom Salina Journal: Rick Tuxhorn, Salina, has been hired as vice president of finance for McPherson College. Rick worked as a CPA for 30 years, most recently as a manager at Swindoll Janzen Hawk & Loyd, LLC. Congratulations, Rick!

FORT SCOTT FIRM RECEIVES COMMUNITY SPIRIT AWARDFrom the Fort Scott Tribune:Diehl, Banwart Bolton, CPAs, PA of Fort Scott, Kan. has received the Community Spirit Award.The award is given to a business that goes above and beyond for the community: participating, contributing and adding to the overall enhancement of the Fort Scott area. Congratulations!

BKD ANNOUNCES PROMOTIONSFrom the Wichita Eagle:BKD has announced the following promotions: Kyle Hart and A.J. Worthington, supervisors, tax department; Kyle Heincker, Casey McMillian and Jason Seaton, senior, audit department; and Kristen Windscheffel, senior, tax department. Congratulations, Kyle, A.J., Casey, Jason and Kristen!

KENNEDY MCKEE & COMPANY LLP, ANNOUNCES NEW PARTNERSFrom Kennedy McKee & Company LLP, PA:Kennedy McKee & Company LLP, Certified Public Accountants of Dodge City, Kan. has announced that Patrick M. Friess and John W. Hendrickson have been admitted to partnership of the firm.

Pat joined the company in 1994 and concentrates primarily on municipal accounting and auditing, along with income tax planning and preparation.

John has 13 years of experience in income tax planning and preparation, and in auditing with an emphasis in non-profit and municipal accounting and auditing.

Pat and John join James W. Kennedy, Robert C. Neidhart, James R. Shirley and Lu Ann Wetmore as partners in the firm. Congratulations, Pat and John!

KENNETH SELZER, CPAKenneth Selzer was named Rototian of the Year of the Rotary Club of Leawood, Kan.

KSCPA MEMBER NEWS

PAT FRIESS JOHN HENDRICKSON

31

Designed for the profession, by the profession. KSCPA 80TH ANNIVERSARY GALA DINNER/DANCE

Starring Lonnie McFadden

November 14 , 2012 - Hyatt Wichita

MARK YOUR CALENDAR!

PROFESSIONAL ISSUES UPDATEwith Rich Caturano

November 14 , 2012 - Hyatt Wichita

ANNUAL MEETING/LEADERSHIP SUMMIT/BOARD MEETING

November 14 , 2012 - Hyatt Wichita

PROFESSIONAL ISSUES UPDATEwith Ernie Almonte

May 23, 2012 - Lawrence

KSCPA STRATEGIC PLANNING RETREAT and Golf Outing at Deer Creek Golf ClubSeptember 27-28 , 2012 - Overland Park

“20 up to 40” LEADERSHIP TRAINING - SESSION 3with Dr. Gerald Graham

July 26-27 , 2012 - Salina

“20 up to 40” LEADERSHIP PROGRAM - SESSION 2

May 22-23, 2012 - Lawrence

JEFF LANZA FRAUD EVENT &“20 up to 40” TEAM BUILDING AT TIMBERRIDGE - SESSION 4

September 27-28 , 2012 - Wichita

KSCPA/AICPA WOMEN TO WATCH AWARDS LUNCHEONwith Tommye Barie

September 21 , 2012 - Overland Park

LEADERSHIP SUMMIT - SPRING MEETING OF TASK FORCES/BOARD

May 23, 2012 - Lawrence

AMC MEMBERSHIP/GROWTH & NETWORKINGCocktail Chat with Gerry Lopez, CEO, AMC

May 3, 2012 - AMC Marquee Lounge, KCMO

“20 up to 40” GRADUATION EVENTS - SESSION 5

November 13-14 , 2012 - Hyatt Wichita

RISK MANAGEMENT CONFERENCESponsored by Paychex

May 7, 2012 - Overland Park

YOUNG PROFESSIONALS CONFERENCEwith Ernie Almonte - Sponsored by Paychex

May 22, 2012 - Lawrence

AGRICULTURAL WORKSHOP with Roger McEowenSponsored by Mid-Kansas Coop

May 10, 2012 - Manhattan

OIL & GAS WORKSHOP with John TrippCo-sponsored by PASOK

May 8-9, 2012 - Manhattan

CONFERENCE ON KANSAS TAXES(Golf Outing - June 24 - Sponsored by Prairie Band Entertainment Corp.)

June 25 , 2012 - Prairie Band Resort & Conf. Cntr.

GOVERNMENTAL & NON PROFIT Accounting & Auditing Conference

June 5-6, 2012 - Hyatt Wichita

BUSINESS & INDUSTRY CONFERENCEReception sponsored by Koch Industries

June 20, 2012 - Wichita

WOMEN’S LEADERSHIP CONFERENCEwith Jennifer Wilson

September 21 , 2012 - Overland Park

BUSINESS VALUATION CONFERENCEwith Ron Seigneur & Kevin YeanoplosOctober 19 , 2012 - Overland Park

WEALTH MANAGEMENT CONFERENCE@ American Century Investments

May 7, 2012 - KCMO

K2 HEARTLAND TECHNOLOGY CONFERENCE

December 6-7, 2012 - Overland Park

62nd ANNUAL KANSAS TAX CONFERENCE

November 15-16, 2012 - Hyatt Wichita

ACCOUNTING & ASSURANCE SERVICES CONFERENCE

June 4, 2012 - Hyatt Wichita

SM

FREE

FREE

FREE

FREE

FREE

FREE

FREE

32

Join the celebration at the KSCPA Annual Meeting & Gala Dinner/Dance November 14, 2012 in Wichita!

Register today under “Events” on the KSCPA website.

Celebrating 80 Years 1932-2012