AZ CPA March April 2013

www.ascpa.com

AZ MARCH/APRIL 2013

CPAThe Arizona Society ofCertified Public Accountants

Is Being An IntrovertReally So Bad?

Assessing Risks —The Role of the CFO

Monitoring Your Company’s 401(k)

2 AZ CPA y MARCH/APRIL 2013

4143 North 12th Street Suite 100 Phoenix, Arizona 85014 (602) 274-9966 www.llumbard.com

L LUMBARD & ASSOCIATES, PLLC Celebrates 20 Years

Serving Not-for-Profit & Governmental Entities

February 1993 to 2013

Thank you Arizona Society

of CPAs for being a partner in our success!

MARCH/APRIL 2013 y AZ CPA 3

Corrine Wilson

R E D W. C O M | 6 0 2 . 7 3 0 . 3 6 0 0A L B U Q U E R Q U E | P H O E N I X

REDW on Path for Strategic Growth

REDW merged with Abalos & Associates, PLLC and Miller, Allen & Co., P.C. in late 2012 to provide a broader range of services, a greater depth of technical experience, and a more dynamic infrastructure to support the evolving needs of our clients.

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Mike Allen Steve Harris

Tom Friend

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Barry Friefield

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REDW’s Phoenix Principal Group

Corrine Wilson Joins REDW’s Phoenix

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Wilson Promoted to Principal

Corrine Wilson brings more than 30 years of experience serving Tribal Government and Gaming industry clients, primarily in public accounting and auditing. Adding Corrine to the firm’s leadership clearly reinforces our commitment to superior client service and technical expertise. Welcome, Corrine!


MARCH/APRIL 2013

FeaturesHow to Monitor Your Company’s 401(k) Plan — An Auditor’s Perspective 10To minimize the chance that your company’s 401(k) plan runs into problems during the annual financial statement audit, consider these suggestions for being proactive with the monitoring process.

by Rebecca Choate, CPA

AZVolume 29 Number 3

CPA

Columns & Departments 6 Chair’s Message by Armando Roman, CPA

7 Focus on Members

8 In the Black ... Adventures in Accounting

9 Highlights of ASCPA Board Meeting

22 ClassifiedsArizona Society of Certified Public Accountants4801 E. Washington St., Suite 225-BPhoenix, Arizona 85034-2021www.ascpa.com

www.ascpa.com

Assessing Risk — Why CFOs and Financial Managers Must Facilitate Risk Discussionsin their Organizations 13Learn about the four major roles that CFOs and financial managers can plan in assessing risk.

by Dan Chenoweth, MBA

Is Being an Introvert Really So Bad? 17Discover the ways that introverts are uniquely valuable to the success of their companies and how you can best communicate with them.

by Heidi Frei, MBA, ABC


The Arizona Society ofCertified Public Accountants

President & CEO Cindie Hubiak

Editor Patricia Gannon

Copy & Advertising DeadlineThe first of the month one month prior to publication date.

Board of DirectorsChair Armando Roman Chair-Elect Karen AbrahamSecretary/Treasurer Anita BakerDirectors Rob Dubberly Debra Johnson Jimmy Lovelace CW Payne George Raysik Phil Reckers Craig Robb Andy Spillum Leslie Stackpole Elva Vivas Corrine Wilson Kevin Yeanoplos

Immediate Past Chair Mark AndersonAICPA Council Members Jim Buhr Rick Goldenson

Chapter PresidentsSouthern Chapter Flo ZenbluNorthern Chapter Jennifer NordstromSouthwest Chapter Jayne WrightNorth-Central Chapter Richard Joliet

AZ CPA is published by the Arizona Society of Certified Public Accountants (ASCPA) to provide information, news and trends in the profession of accounting. It is distributed 10 times a year as a regular service to members of the Society. The ASCPA, its members, board of directors and administrative staff assume no responsibility for advertisements herein. The ASCPA and the above people also assume no liability for business decisions made by readers in reference to statements and/or claims in advertisements within this publication. Opinions expressed by correspondents and contributors are not necessarily those of the ASCPA.

Arizona Society of CPAs4801 E. Washington St., Suite 225-BPhoenix, AZ 85034-2021

Telephone (602) 252-4144 AZ Toll-Free (888) 237-0700Fax (602) 252-1511

www.ascpa.com

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Chair’s Message by Armando G. Roman, CPA

AZ CPA

The PlanMy 17-year -old son recently told me he wants to become a CPA. He asked

me to help him plot out a chart so he can get there. He went on to say that

he knows that’s been my plan all along, ever since he was a little kid. But

the truth is, that was never my plan.

Instead, my plan has been to expose him to many careers, many professionals, many events and ac-tivities, so that he could be more in-formed about careers as he grew up. Not having that advantage myself, it has been important to me that he and his brother and sister have that. He sat in a booster seat the first time I took him with me to a business breakfast. He accompanied me to visit clients at their offices, he has come with me to nonprofit board meetings, to business open houses, and been with me at client presen-tations. He and I flew to Atlanta once, when I served as a panelist at

kept him from getting on the floor in his office to demonstrate “the move.” It’s been inspiring and motivational to hear these highly successful people tell their stories and to hear the obstacles they overcame. Both attributed success on the wrestling mat to success in their careers. The dedicated hard work and discipline learned there carried them through college and into successful careers.

My daughter and I are now making an effort to visit with successful women. She’s convinced girls are smarter than boys, and I don’t argue that one bit. I encourage it. I want her to believe that with all her heart, so the self-confidence she has now will carry her through the long road ahead. This may be one of my many mistakes as a father, but I’m doing it anyway. Last year at age eight, she told me she wants to be a CPA. Finding successful women for her to meet seems to be easy since our

profession is so ameniable to women. She’s young and there is so much time ahead that I don’t want encourage or discourage her decision, I just want her to meet lots of successful women and come to her own conclusion. Maybe she’s already there. Maybe girls really are smarter than boys, and I’m the last one to figure that out.

•••As my term comes to a close at the

end of April, I’d like to thank my fellow board members—it’s been a real pleasure serving with you—and Cindie Hubiak and her dedicated team at the Society who always “watch our backs” and keep their fingers on the pulse of this fine profession in our state. The nearly 6,000 members of the Arizona Society of CPAs are in good hands.

an AICPA conference. (He was 10 years old at the time.)

My son has met lots of CPAs along the way, as well as attorneys, doctors and other professionals. Although it was never my plan for him to become a CPA, now that he has a direction—a focus—I’ll continue introducing him to more CPAs, so he can see the wide range of career choices within the profession. Be-ing a CPA is an excellent career choice, even when it may become a springboard to something else.

Last summer, I took my sons to meet the Phoenix City manager. We also met with the managing partner of a large law firm. Since both of these men are former high school wrestlers, and my sons are both wrestlers, the connection was instantaneous. One of them wanted to show my sons “his move,” the move that pinned all the other wrestlers be-fore they knew what was happening. Something about a bad knee, actually

Armando and his children deep sea fishing.

AZ CPA


Focus on Members

ASCPA member Ben Cilek, CPA, of Apollo Group, Inc., sent in this photo of himself on a 60-mile bike ride where he happened to see a Kachina that reminded him of the ASCPA Accounting Kachina!

The whole professional team at

LUDWIG KLEWER & CO. PLLC

spent a half-day working on two

Habitat homes in the Tucson area.

Angela Mack, CPA, (above right),

one of their audit supervisors, is

on Habitat’s audit committee. Bill

Reeves, CPA, (top left) and Steve

Mankee, CPA bottom left, are also

pictured.


In the Black ... Adventures in Accounting

Focus on Members

Conc

ept:

Heidi

Fre

i Il

lust.:

Jack

Gan

non

If you have access to the Internet, you can webcast just about anywhere ...

You can take almost any ASCPA course as a webcast. Go to www.ascpa.com to learn more.

But please don’t webcast—

George M. Cohen, CPA, of Mcgladrey LLP, got the chance to play the field during his second Diamond-back Fantasy Camp experience.

Matt Holdsworth, CPA, of Hold-sworth & Company, is this year’s chairman of the Prescott Chamber of Commerce Board of Directors.

The CPA firm of Flowers, Rieger & Associates, PLLC hired Gene Ross, CPA, as a tax manager.

Sara Mercer, CPA, was promoted to wealth advisor at TFO Phoenix.

In MemoriamJohn “Jack” Joseph Weiman, III

Earl David Schwartz

... and drive!


Highlights of Board of Directors’ January Meeting

Among other actions at its January 23, 2013 meeting, the ASCPA Board of Direc-tors reviewed the following:

Dialogue with the Accountancy Board Mark Landy and Monica Petersen,

president and executive director, re-spectively, of the Arizona State Board of Accountancy, thanked the Society along with its lobbyist for their support and leadership in getting the bill that will update the Accountancy statutes to the legislature. The bill mainly clari-fies definitions, consolidates and adds clarifying language to current statutes.

Consent AgendaThe consent agenda, which included

the board minutes, financial statements, Foundation investment policy and 2013-2014 budget were approved.

Strategic Plan and 2013-2014 Measurement The 2013-2014 measurements were

approved by the board.

Nominating CommitteeKaren Abraham presented the Nomi-

nating Committee’s report to the Board. Karen thanked the committee members for their efforts.

Legislative UpdateKevin and Ryan DeMenna from

DeMenna and Associates, the Society’s lobbyist, talked about the need to educate new legislators on issues such as conformity. They shared that they flag all bills that may impact CPAs and thanked the Society for their quick re-sponse in addressing any issues. They also shared that sponsors had been secured for the Accountancy Board legislation.

Strategic UpdateCindie updated the Board on the

most recent Legends & Leaders session, along with updates on our first official national webinar and also encouraged

the board to attend Sharon Lechter’s book signing of Save Wisely, Spend Hap-pily to be held on January 29.

A Day in the LifeBoard members appreciated hearing

from fellow board members Craig Robb and Debra Johnson on the challenges and joys they experience in their lives and jobs.

Other BusinessCorrine Wilson encouraged board

members to support the three-part women leadership series by sending their employees.

If you have questions or would like additional information, please contact Cindie Hubiak at (602) 324-2888; AZ toll free at (888) 237-0700, ext. 203; or [email protected].

The Arizona Society of CPAs presents the

2013 Annual MeetingMay 14featuring guest speaker Greg Anton, Past Chair of the American Institute of CPAs

Honoring Life Members Ira S. Feldman, CPA and Doug Norton, CPA

Arizona Biltmore Resort Register at www.ascpa.com


How to Monitor Your Company’s 401(k) Plan—An Auditor’s Perspectiveby Rebecca Choate, CPA

How often do you monitor your Company’s 401(k) plan? Once a year when the audit takes place? If

so, you are not alone. Many executives believe they don’t need to do much to monitor the Company’s

plan since the recordkeeping is outsourced; however, the Department of Labor (“DOL”) would

disagree. According to DOL standards, plan management needs to substantiate that appropriate

procedures are in place to monitor the plan. Often, problems can be avoided by paying attention

to areas where errors often occur. To minimize the chance that your company’s 401(k) plan runs

into problems during the annual financial statement audit, consider the following suggestions for

being proactive with the monitoring process.


Read the plan documentsMake sure information in the summary plan descrip-

tion agrees with the information in the signed adoption agreement or other plan documents. You would be sur-prised how often they are not consistent. The adoption agreement is the governing document in the event there are inconsistencies. One common problem we see often is clients using the wrong definition of compensation to calculate deferrals. Make sure you are using the right definition of compensation to calculate deferrals and any matching contribution.

Often deferrals and matching contributions are not calculated on bonuses or vacation payouts when they should be included based on the definition of compen-sation according to the plan documents. Additionally, consider selecting a few employees each pay period and recalculate the deferral and employer matching contribu-tion. Another common problem we see often is clients improperly excluding employees. Make sure eligibility is being monitored and communicated in a timely manner. Often part-time employees are excluded from the plan when there is no provision to exclude them from par-ticipating in the plan according to the plan documents. Employees responsible for payroll and human resources must be aware of the terms of the plan and operate ac-cording to plan provisions.

Exercise fiduciary responsibilityRead and utilize “Meeting Your Fiduciary Respon-

sibilities” published by the Employee Benefit Security Administration (“EBSA”) of the DOL. You can find it on the EBSA website at www.dol.gov/ebsa. Put a 401(k) com-mittee in place to meet quarterly to review plan activity. Include employees from accounting, payroll and human resources on this committee. Record minutes during these committee meetings and retain them. With the significant number of investment failures within benefit plans, the complexity of investment alternatives, and the complexity of the tax laws covering the qualifications of the plan and fiduciary responsibilities of the Plan Administrator, it is important that plan management adequately document all due diligence over operations of the plan, including certain decisions made and actions directed or carried out by plan management. The 401(k) committee should meet at least annually to review investment returns and soundness of investments, approve discretionary benefit payments, including return of excess contributions, moni-tor tax and qualification compliance, approve changes to the Plan including change in responsible employees, change in third party administrator (“TPA”), and evaluate outside service providers such as TPA, broker, and auditor. In addition, if the matching contribution is discretionary,

it is recommended that you document the match amount within the minutes, even when no discretionary match is made. Obtain a copy of the Statement of Controls (“SOC”) report for both payroll and recordkeeping services at least annually and document the controls in place for each user control listed in the reports. If you are considering mov-ing the plan to a new provider, I suggest you read “Tips for Selecting and Monitoring Service Providers for Your Employee Benefit Plan” issued by the DOL. When you are considering moving the plan to a new provider, ask for a copy of their most recent SOC report and review it to make sure there aren’t any significant deficiencies in their controls.

Review plan activityAt least quarterly, review the activity in the plan for

reasonableness. Compare employee contributions made to the plan to deferrals according to the payroll system. Make sure contributions to the plan are timely. It is suggested that you remit deferrals to the plan within three business days of the pay date. The main thing to remember is to be consistent. If you remit earlier than three days, the DOL could say the earlier date is now the standard and all the other deposits are late remittances. Make sure forfeitures are being utilized according to the plan documents. Also, if allowed by the plan, make sure any force-out distribu-tions are being done on a regular basis.

Review plan investmentsMake sure you are reviewing investments at least annu-

ally or even semi-annually in a volatile market. Compare investments offered by the plan to the investment policy and to industry benchmarks. Make sure you have an in-vestment policy in place and you understand the types of investments in the plan and how they are valued. Auditors are required to audit your assessment of investments in the fair value hierarchy. This means you need to gain an understanding of how the plan’s investments are valued and determine which level they belong in. Read and imple-ment “Valuing and Reporting Plan Investments” issued by the AICPA Employee Benefit Plan Quality Center.

Review payroll changesOften, errors are due to data entry mistakes when

changes are made in the payroll system. To minimize such errors, make sure that one employee enters changes to payroll (salary increases or changes to deferrals) and another employee reviews those changes. Support for such changes should be retained in the employee’s file. When the review of the change is performed, have the reviewer sign off on the form that is retained, which will provide audit evidence that the changes have been reviewed.


Review compliance results

Make sure the census that is submit-ted and used by the provider to perform compliance tests is accurate. When the results are available, review and take any action necessary to keep the plan tax compliant. Auditors often find errors in the census. A review of this information on the front end will save lots of time on the back end.

Maintain employee filesDuring the financial statement audit

of the plan, auditors select individu-als from the census for testing, which entails verifying the hire date, date of birth, termination date, etc. Make sure employee files contain this informa-tion and are easy to access. Also, if employees fill out paper conribution election forms, keep these in their file for support as well. If employees do not wish to contribute, have them complete the form electing zero and retain this in their file. This will serve as support for waiving their option to participate in the plan. Auditors also recalculate and verify gross payroll amounts so be sure to maintain support for sal-ary increases in chronological order as well as support for loans and hardship withdrawals.

As you can see, there are some impor-tant processes you should have in place to monitor your Company’s 401(k) plan. Implementing these procedures is fairly simple and will help minimize any issues during a financial statement audit as well as substantiate your fiduciary responsibilities if you ever undergo a DOL audit.

Rebecca L. Choate, CPA, is an as-surance manager at Lohman Company, PLLC. She is chair of the Accounting and Assurance Steering Committee and can be reached at [email protected].

AZ CPA

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Assessing Risk Why CFOs and Financial Managers Must Facilitate Risk Discussions in their Organizationsby Dan Chenoweth, MBA

We human beings are optimistic. Most of us focus primarily on what we get from a transac-

tion. While we may also look for the downside, we tend to understate obstacles if we want the

reward badly. We have high expectations for the unknown: often reflected by “hockey stick”

revenue projections. We are over-confident about our abilities. Research indicates individuals

will rate themselves in the population’s top 20 percent on almost any variable. Are you in the

top 20 percent of CPAs? I am. Are you in the top 20 percent of safe drivers? I am. You get it.


Teams are over-confident as well as individuals. That’s where we financial managers come in. We are logical, love data to support decisions, and are somewhat skeptical. If proposed actions could jeopardize the organiza-tion’s financial position, we search for the “cloud inside the silver lining.” Even if other senior executives are firmly behind a decision to launch a new product, enter a new market-place or acquire another company, we generally seek further information to assure the reward is commensurate with the risk.

From my perspective, there are four major roles for financial managers. Typically, we do an excellent job in the first three, but we can all use help with role number Four.

Role Number One – Financial historian and translator

We must understand our financial statements and the cause/effect relation-ships that create value. We are good at connecting the dots and presenting financial information in understandable ways to non-accountants.

Role Number Two– Facilitate strategy discussions

We are good prognosticators because we have to be. There is always next year’s budget to compile and periodic revisions as the year progresses. The budget quantifies the organization’s strategic initiatives and assumptions. Therefore, we must be a full partner at the planning table. I argue that the fi-nancial manager is better equipped than the other senior executives to facilitate strategy discussions. Why? Second only to the CEO, we see the big picture and focus on the bottom line. On the other hand, other senior executives focus primarily on maximizing their piece of the puzzle.

Role Number Three – Assessing and managing compliance risks

Here is where we shine. We are in-timately aware of risks associated with threats to monetary strength, profit

margin or capital investment. Examples include cash flow, budget requirements, tax obligations, reserve requirements, creditor and debt management. We as-sure adequate internal controls are in place, insurance is sufficient, and the company complies with all tax, legal and other regulatory obligations.

Role Number Four – Assessing and managing strategic risks

Our skills are probably weakest in this area, yet risk management is emerging as perhaps our most im-portant, value-added role. Research estimates less than 1/10 of one percent of risk events will cause at least 50 percent of corporate losses. Who in your organization is looking out for strategic risks and has the analytical skills to detect something that could jeopardize the company’s future suc-cess? Examples:

•Within days of the Japanese Tsu-nami and atomic energy problems, U.S. auto manufacturers had to cut back production. Only three compa-nies make a certain critical electronic automobile components and they are all located in Japan! Sole sourcing a unique product is less expensive,

but leaves no fall-back plan when the supplier has a disaster. Who monitors similar risks in your company?

• Wal-Mart stock prices plunged on news the company bribed Mexican officials to quicken expansion and then tried to cover up the corruption. There is always investor pressure for growth. When does a company “cross the line”? Who monitors these risks in your company?

• Salmonella bacteria caused a recall of over 500 million eggs a few years ago. FDA inspections found the barns of two egg producers, Wright County Egg and Hillandale Farms, infested with flies, maggots and rodents, and had overflowing manure pits. Who in your company assures there is an appropriate productivity and safety balance?

So what resources are available to us to take the lead in assessing and managing strategic risks?

First, familiarize yourself with the comprehensive risk management guidelines provided by the Commit-tee of Sponsoring Organizations of the Treadway Commission (COSO). COSO’s Risk Management, Integrated Framework provides the definitive U.S.

Research estimates less than

1/10 of one percent of risk

events will cause at least 50

percent of corporate losses.

Who in your organization

is looking out for strategic

risks and has the analytical

skills to detect something

that could jeopardize the

company’s future success?


risk management standard. Second, familiarize yourself with

tools to PROACTIVELY anticipate strategic risk. Some examples:

•The Risk Cascade Model (McK-insey and Company). This model looks first at “risk triggers” (changes in factors affecting your industry) then at how those risk triggers could impact your business activities.•The Heat Map plots the likelihood a risk event may occur against the magnitude of the event’s conse-quences. • Scenario Planning. In an ever-changing, tumultuous world it may make sense to analyze more than one possible future and take “options” on key resources in each scenario. •War Gaming. Encourage your executive staff and other key em-ployees to think out of the box. Divide into teams representing your company and your top competitors. Meeting separately, the competitive teams devise schemes to defeat your company while the company team

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• •••••••••

• •••••

BERATUNG

determines ways to protect and defend your current position and weaken the competitors.This article explains why financial

managers are best positioned to lead strategic risk assessment and provides some ideas to get started. I challenge you to accept the responsibility of as-sessing and managing strategic risks in order to both protect your company from unexpected events as well as to enhance your own position. We have the innate skills; you now have some of the tools. Go for it!

Dan Chenoweth, MBA, is a CPA and a seminar discussion leader for Executive Education, Inc. For further information regarding this and other topics, watch for seminars presented by Executive Educa-tion, Inc. at www.ascpa.com.

AZ CPA

2013 Industry Conference

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Is Being An Introvert Really So Bad?

by Heidi Frei, MBA, ABC

When I was in grade school, I remember my parents com-

ing home from parent teacher conferences and saying, “Your

teacher said you are so shy and quiet.” I think that is the

first time I realized that most people looked at introversion

as a bad thing.

Throughout my life people have been quick to point out, “You

are so quiet.” I would usually respond, “Well, someone has

to listen.” It became clear that I would have to make some

adjustments to fit into our American culture of extroversion,

without losing the benefits of introversion.


When I saw the book “Quiet: The Power of Introverts in a World that Can’t Stop Talking” by Susan Cain, I knew it was a must read. I learned more about the strengths of an introvert and how they can be heard. Many CPAs consider themselves introverts, so I thought I would share some of what I learned. It is also helpful information for extroverts who manage introverts, so they can find ways to use the talents of an introvert more effectively.

LeadershipWhen you think of top leaders of

the past and present, there are some names that come up over and over like Steve Jobs, Richard Branson and Herb Kelleher. But do leaders really have to be extroverted and charismatic to be effective?

Cain shares a study by Wharton management professor Adam Grant. Grant talked about some of the benefits of introverted leaders, “. . . introverts are uniquely good at leading initiative-takers. Because of their inclination to listen to others and lack of interest in dominating social situations, introverts are more likely to hear and implement suggestions. Having benefited from the talents of their followers, they are then likely to motivate them to be even more proactive.”

Grant continued, “Extroverts, on the other hand, can be so intent on putting their own stamp on events that they risk losing others’ good ideas along the way and allowing workers to lapse into passivity. But with their natural ability to inspire, extroverted leaders are bet-ter at getting results from more passive workers.”

Based on these observations, it would be important to examine your own organization to see what types of em-ployees and culture you have. You may even see differences in departments, which may require a different type of leader from department to department.

CreativityMany creative individuals are intro-

verts. Cain shares a creativity study from the Institute of Personality Assess-

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ment and Research at the University of California, Berkeley. She reports that “the more creative people tended to be socially poised introverts. They were interpersonally skilled but ‘not of an especially sociable or participa-tive temperament.’” Cain shared that new ideas often come to mind when people are working alone and uninter-rupted, which is a common situation for introverts.

Many of us have heard that brain-storming in groups results in the best ideas. She shared several studies that show this isn’t the case. Some of the barriers to developing good ideas are that some people do not speak up when they have great ideas, sometimes the leader takes the ideas of the most vocal member of the group, and some people are led to believe that the group has come up with the best decision. The studies did identify a type of group brainstorming that was effective, and that is through online collaboration, which allows for some of the “alone” time that is successful for idea genera-tion from individuals and puts everyone at a more even level.

How to Get Results from an Introvert

Introverts need down time alone – asking them to interact in an all-day meeting and then attend a social event right after may be too much. Also, working in an environment of cubicles may be too distracting for the introvert.

Introverts sometimes have difficulty showing emotion. They feel the emo-tions but sometimes do not express them clearly because they do not like conflict.

Introverts respond more favorably to leaders who speak in a calm manner rather than using a loud, forceful tone to motivate. If you have watched “The Biggest Loser,” think Bob vs. Jillian.

Introverts do better in smaller group communications. They prefer one-on-one conversations, so they are more likely to be successful when they don’t have to compete with a large group. If small group communication is not possible, seek out the introverts after

meetings to see if they have any ad-ditional insights.

Introverts like advance notice and an opportunity to review materials before a meeting. They like to limit surprises and analyze carefully.

When You Have to be an Extrovert

To fit into the extroverted world, sometimes introverts have to go to uncomfortable places. There are times that you will have to give a presentation, drum up new business or attend a so-cial event. It is almost impossible to be

completely introverted. Introverts find it easier to be extroverted when they feel passionate about something.

To develop presentation skills, a good way to practice would be to give a pre-sentation about something you enjoy doing. I have found Toastmasters to be an excellent way to practice in a safe, encouraging setting. It will allow you to practice impromptu speaking and pre-pared speeches. (www.toastmasters.org)

Small talk can be one of the most difficult things for introverts to do. Preparation can be the key to success. Going to an event with a list of ques-

Some Famous Introverts

Eleanor Roosevelt Warren Buffett Dale Carnegie

Gandhi Rosa Parks

Abraham Lincoln Steven Spielberg Steve Wozniak


connectCommunicate • Collaborate • Contribute

The new, interactive online community only for ASCPA members

Join the discussion at: http://connect.ascpa.com

In the past month, Connect Discussion groups had 141 new discussion

questions posted, as well as lots of great answers. Find out what you’ve

been missing — get your questions answered and get Connected today!

If you were on Connect — you were one of the first people to know

about the changes in the American Taxpayer Relief Act of 2012 from

experts like Ed Zollars.

“As a member of the ASCPA,

Connect has become my go-to

tool. As the chair of the Not-for-

Profit Conference Committee,

Connect provided a central

location to easily communicate

our progress without all of

those pesky, in-box filling

group e-mails. We planned

our conference in record time

and calendars and agendas

are accessible to all Committee

members.

Connect has placed all of

the resources I need in one

convenient location. In just a few

minutes a morning, I am able

to scan the home page for new

blogs, relevant discussions, or

upcoming CPE and networking

events. I may dash off a note

to one of my colleagues or just

check to see if I’m still the most

active user. I invite you to join

me on the active list and see

how beneficial Connect can be

to you.”

—Sarah Zelhart, Controller,

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tions in your head to ask and answers for these questions will help you feel more at ease. One of the most common questions you will be asked is, “What’s new?” Being prepared to talk about your organization’s new service or a trip you just took will help you easily answer this question and start the flow of conversation.

According to another researcher in the book, extroverts enjoy talking to introverts. “Extroverts need to know that introverts – who often seem to disdain the superficial – may be only too happy to be tugged along to a more lighthearted place; and introverts, who sometimes feel as if their propensity for problem talk makes it safe for others to get serious.” One of my most trusted colleagues in my field is an extreme extrovert. People have always thought it was an odd combination, but we have found the introvert-extrovert bond to be strong.

Introverts love to listen, so asking a lot of questions and showing genuine interest in the answers will make you a favorite. If you still feel uncomfort-able with networking, another tip is to practice by going to events for a favorite charity or other special interest. It will instantly give you something in common with the others to share your passions.

Introverts may also be involved in the sales process. After getting over the initial discomfort of making a sales call, which may be difficult for an introvert, the actual sales process is well suited for an introvert. A successful introverted salesperson, Jon Berghoff, said, “I dis-covered early on that people don’t buy from me because they understand what I’m selling. They buy because they feel understood. I got to the point where I could walk into someone’s house and instead of trying to sell them some knives, I’d ask a hundred questions in a row. I could manage the entire conversa-tion just by asking the right questions.”

Learn MoreThe book includes an interesting

history of how extroversion became the ideal, Cain’s theories on how the banking industry collapse was a result of a reliance on extroverts as leaders and strategists, and profiles of some famous introverts. In the end, I think you will see that one type is not better than the other and that both introverts and extroverts have an important part to play in the business world.

Heidi Frei, MBA, ABC, is director of marketing & membership at the ASCPA. She can be reached at [email protected].

After getting over the initial discomfort

of making a sales call, which may be

difficult for an introvert, the actual sales

process is well suited for an introvert.

AZ CPA

Thanks to Members Who Have Contributed More Than $100 to ASCPA’s Political Efforts From Jan 1 – Feb 8

Karen AbrahamMark AndersonAnita BakerJim BuhrRob DubberlyRichard GoldensonJimmy Lovelace

George RaysikCindie HubiakDebra JohnsonCW PayneArmando RomanAndrew SpillumLeslie Stackpole

Elva VivasCorrine WilsonKevin Yeanoplos


ClassifiedsBusiness Opportunities/

Practices for Sale

WE BUY CLIENTS— Our CPA firm would like to offer a smooth transi-tion in the purchase of your clients. We will purchase anywhere from one client, up to an entire practice in the Phoenix/Scottsdale metro area. If you are thinking of retiring or downsizing your practice and need to transition your clients to a professional CPA firm, please give us a call. Our staff has been practicing in the valley for over 30 years with an emphasis in business taxes and accounting. Our office is located near Thunderbird and Scottsdale Rd. Please contact us today for more information and ask for Craig (480)990-2727 [email protected].

CPA FIRM FOR SALE—Northern Arizona CPA firm for sale. Primarily tax through estate and gift. Accounting

ested candidates may submit a resume to [email protected].

SENIOR ACCOUNTANT—NHS Solutions, Inc.—Growing healthcare recruiting company in Tempe needs a Senior Accountant to manage payroll, sales commissions, customer billing and accounts payable. Experience with employee benefits administration is helpful. Position includes general ledger account reconciliations, financial and management reporting and vendor management. Email resume to [email protected].

ACCOUNTS PAYABLE SPECIALIST —Children’s Learning Adventure—A/P Specialist needed for growing multi-unit business headquartered in Central Phoenix. Prior a/p experience required (AA degree &/or some college account-ing coursework preferred). Must be sharp, detail-oriented, organized and self-motivated. Excellent career op-portunity with advancement potential. Immediate need. Reply to [email protected].

SENIOR ACCOUNTING ANALYST —Oro Valley, AZ-1300389—Freeport-McMoRan Copper & Gold Inc. is a lead-ing international mining company with headquarters in Phoenix, Arizona. We operate large, long-lived, geographically diverse assets on four continents, with significant proven and probable reserves of copper, gold and molybdenum. As a

Watch an ASCPA Webcast with Co-Workers and Save 33% Get your team together to watch a webcast and save on registration fees.

Contact Jena Ford at [email protected]

through Review statements. Two to five year transition desired. Email [email protected]

Employment Opportunities

AUDIT AND TAx STAFF - ALL LEvELS— Hammel, Beal & Lauer, P.C. —HBL is a locally owned and growing Tucson based firm seeking qualified audit and tax staff at all levels. We have a diverse client base with minimal travel. We offer competitive compensation and benefits. Recently graduated candidates should be on the path to certification, completing or enrolled to complete 150 hours, and preparing for or sitting for the CPA exam. Experienced staff should be in the process of certification or certified, depending upon the posi-tion sought. Experience with Lacerte, QuickBooks and with Prosystem fx Engagement paperless software is help-ful. Nonprofit, ERISA and construction experience is very desirable. Reply to [email protected].

TAx ACCOUNTANT—Epstein & Reynolds PLC—Growing CPA firm in Scottsdale seeks a Tax Accountant with 2-5+ years of recent CPA firm experi-ence to join our team for preparation of business and individual income tax returns. We offer a paperless work en-vironment, opportunity for growth and advancement, and competitive salary and benefits. Experience with ProSys-tems fx and Quickbooks a plus. Inter-

Problem with the Board?

Contact: Former Accountancy Board Member

D. Jay Ryan

Attorney at LawCity North

5415 E. High St., #200Phoenix, AZ 85054(623) 937-3737 or

(602)840-8075 (fax)Free Telephone Consult

Mr. Ryan is a former Assistant Attorney General who represented

the Board.

The Board’s first lay member/President

Law Committee Member

ASCPA Honorary Member


Upcoming 2013-14 ASCPA Conferences

Be sure to save the dates:

2013May 24 - Industry

June 14 – Financial Planning

June 26 – Not-for-Profit

October 30 – Construction Industry

November 15 – Emerging Leaders

November 7-8 – Arizona Federal Tax Institute

December 6 – Forensic and Litigation Services

December 10 & 11 – Technology

2014January 10 – Accounting and Reporting

Standards

February 21 – Governmental Accounting

For more information or to register, go online to www. ascpa.com.

core value, we pledge to continuously improve in meeting our commitment to work in the most safe, inclusive, en-vironmentally and socially responsible manner practicable. To apply: https://fmi.taleo.net/careersection/2/jobde-tail.ftl?job=320221&lang=en&sns_id=mailto.

TAx AND ESTATE PLANNING PARALEGAL—Snell & Wilmer L.L.P.—Large regional law firm has immediate hiring need for a full-time Tax& Estate Planning Paralegal in its Phoenix office. Position primarily includes handling es-tate administration matters and prepar-ing estate and gift tax returns for clients. Substantive knowledge of entity gover-nance and administration also required.Minimum 5 years accounting experience is required. Experience in legal field is preferred. Bachelor’s degree required. CPA is preferred. Paralegal certificate from well-accredited paralegal training program is a plus. Snell & Wilmer of-fers a competitive performance-based compensation and benefits package.Send resume in confidence by e-mail to [email protected]. No phone calls please. An Equal Opportunity Employer.

Office Space

FURNISHED OFFICE SPACE SUB-LEASE—Tatum/Shea—Perfect setting for a CPA not wanting to work from home! Contemporary furnishings, high-speed internet, free parking, security system, water service, client reception area, conference room, kitchen and more. Pictures available. Asking $500/mo. Contact Steve: 602.316.3246 or [email protected].

FURNISHED OFFICE—Beautiful of-fice space at Hayden/Cactus. Conference room, Internet, all amenities needed. Of-fice with seasoned/successful Financial advisor. Cross referral opportunity. Call Bruce 480-922-7044 ext. 102

To place a classified ad, go to www.ascpa.com and visit marketplace.


PRSRT STDU.S. Postage

PAIDPhoenix, ArizonaPermit No. 952

Arizona Society of Certified Public Accountants4801 E. Washington St., Suite 225-BPhoenix, AZ 85034

ADDRESS SERVICE REQUESTED

602.631.2600 | Get a Quote 1.888.706.4070 | En español 602.631.2302 | scfaz.com

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AZ CPA March April 2013

Documents

Transcript of AZ CPA March April 2013