12
Continued on Page 2 Joni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker, Society Chair- man of the Board, made the an- nouncement on May 1, 2018. Sundquist is currently Senior Vice President of Communications & Ex- ternal Affairs for the Nebraska Bank- ers Association in Lincoln. She has been with the Bankers Association for nearly 21 years. She will replace Dan Vodvarka of Lincoln who is retiring after leading the CPA Society for over 28 years. Sundquist is scheduled to begin her leadership duties with the Society on July 2, 2018. She graduated magna cum laude from the University of Nebraska- Lincoln with a degree in broadcast journalism and worked in the publish- ing industry before joining the Bank- ers Association in 1997. Very active in community and professional organ- izations, Sundquist is a past President of the Nebraska Society of Associa- tion Executives and is a graduate of Leadership Nebraska. Chairman Parker said, “Joni is an energetic leader with a vision that will propel our great profession and Socie- ty forward for years to come. As someone that has worked extensively in communications during her profes- sional career, I know that Joni will be an outstanding advocate for our mem- bers.” “I am honored to be selected as the next President/Executive Director of Joni Sundquist the Nebraska Society of CPAs,” said Sundquist. “I look forward to working with the Society leadership and staff to help position our members and the profession for continued growth and success in our state.” President Vodvarka’s last full-time day with the Society is scheduled for June 29, 2018, but he is expected to remain on staff part-time during a transitional period. “ I believe the Society Board did an outstanding job selecting the Society’s new President. I will work with Joni to make this a seamless transition for the Society staff and membership,” Vodvarka said. Sundquist will become only the Society’s third President since Arnold Magnuson became the Society’s first employee (part-time) in 1958. “FUNDING” RECORD By Dan Vodvarka Society President Increasing its commitment of over four decades to help Nebraska college and university accounting students become future Nebraska CPAs, the Society’s Foundation recently ap- proved a total of $127,500 in scholar- ship funding! At its May 15, 2018, meeting, the Society’s Foundation approved a rec- ord total of $127,500 in scholarships to accounting students at 14 Nebraska colleges and universities for the 2018- 2019 college year. Last year the Board approved $125,000 in scholar- ships. The amount will be distributed to a record number of total scholarship recipients–72! The scholarships are distributed to college accounting stu- dents in their junior, senior and gradu- ate years across the state of Nebraska. Meeting at Mahoney State Park, the Foundation's Board of Trustees, with Foundation President Don Kluthe of Omaha presiding, approved a total of 21 150-Hour Scholarships for quali- fied Nebraska accounting students. The Board approved two types of scholarships: the general scholar- ships (51) which are $1,500 each and (21) 150-Hour Scholarships that are at least $2,300 each. “Since the passage of the 150-hour education requirement law in Nebras- ka over two decades ago, the Founda- tion has accepted its responsibility to help as many college accounting stu- dents as possible finance their educa- tion,” said Foundation President Kluthe. “We are again proud to be able to fund a total of 21 Fifth-Year Scholar- ships and increase the total amount of scholarship to a record of over $127,500 for the coming year.” he added. Passed by the Nebraska Legislature in the early 1990s, the 150-hour law

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Page 1: Joni Sundquist - nescpa.orgJoni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker, Society Chair-man of the Board,

Continued on Page 2

Joni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker , Society Chair -man of the Board, made the an-nouncement on May 1, 2018. Sundquist is currently Senior Vice President of Communications & Ex-ternal Affairs for the Nebraska Bank-ers Association in Lincoln. She has been with the Bankers Association for nearly 21 years. She will replace Dan Vodvarka of Lincoln who is retiring after leading the CPA Society for over 28 years. Sundquist is scheduled to begin her leadership duties with the Society on July 2, 2018. She graduated magna cum laude from the University of Nebraska-Lincoln with a degree in broadcast journalism and worked in the publish-ing industry before joining the Bank-ers Association in 1997. Very active in community and professional organ-izations, Sundquist is a past President of the Nebraska Society of Associa-tion Executives and is a graduate of Leadership Nebraska. Chairman Parker said, “Joni is an energetic leader with a vision that will propel our great profession and Socie-ty forward for years to come. As someone that has worked extensively in communications during her profes-sional career, I know that Joni will be an outstanding advocate for our mem-bers.” “I am honored to be selected as the next President/Executive Director of

Joni Sundquist the Nebraska Society of CPAs,” said Sundquist. “I look forward to working with the Society leadership and staff to help position our members and the profession for continued growth and success in our state.” President Vodvarka’s last full-time day with the Society is scheduled for June 29, 2018, but he is expected to remain on staff part-time during a transitional period. “ I believe the Society Board did an outstanding job selecting the Society’s new President. I will work with Joni to make this a seamless transition for the Society staff and membership,” Vodvarka said. Sundquist will become only the Society’s third President since Arnold Magnuson became the Society’s first employee (part-time) in 1958.

“FUNDING” RECORD

By Dan Vodvarka Society President

Increasing its commitment of over four decades to help Nebraska college and university accounting students become future Nebraska CPAs, the Society’s Foundation recently ap-proved a total of $127,500 in scholar-ship funding!

At its May 15, 2018, meeting, the Society’s Foundation approved a rec-ord total of $127,500 in scholarships to accounting students at 14 Nebraska colleges and universities for the 2018-2019 college year. Last year the Board approved $125,000 in scholar-ships. The amount will be distributed to a record number of total scholarship recipients–72! The scholarships are distributed to college accounting stu-dents in their junior, senior and gradu-ate years across the state of Nebraska. Meeting at Mahoney State Park, the Foundation's Board of Trustees, with Foundation President Don Kluthe of Omaha presiding, approved a total of 21 150-Hour Scholarships for quali-fied Nebraska accounting students.

The Board approved two types of scholarships: the general scholar-ships (51) which are $1,500 each and (21) 150-Hour Scholarships that are at least $2,300 each. “Since the passage of the 150-hour education requirement law in Nebras-ka over two decades ago, the Founda-tion has accepted its responsibility to help as many college accounting stu-dents as possible finance their educa-tion,” said Foundation President Kluthe. “We are again proud to be able to fund a total of 21 Fifth-Year Scholar-ships and increase the total amount of scholarship to a record of over $127,500 for the coming year.” he added. Passed by the Nebraska Legislature in the early 1990s, the 150-hour law

Page 2: Joni Sundquist - nescpa.orgJoni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker, Society Chair-man of the Board,

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“FOUNDATION” ... From Page 1

requires students to complete 150 col-lege credit hours before sitting for the CPA exam in Nebraska. The require-ment, which officially became law in Nebraska in 1998, is law in almost all jurisdictions in the United States.

27th Magnuson Scholarship The 2018 scholarships included the

annual Arnold L. Magnuson Scholar-ship. The Magnuson Scholarship, now in its 27th year, will be awarded this year to Andrew Sherman of Creighton University in Omaha. The annual $2,500 scholarship honors Arnold Magnuson of Lincoln who served the Society for 34 years and was its first Executive Vice President. The Board also approved scholar-ships to honor the Society’s three ma-jor award recipients for 2018. Two years ago, President Kluthe announced that he and other members from his hometown of Dodge, Nebras-ka had established an Al Brune Memo-rial Scholarship. A fund drive resulted in funds for an annual scholarship be-

ginning in 2017 to an accounting stu-dent at Midland University in Fremont. Brune was a long-time CPA in Dodge and a $2,000 scholarship will be awarded for 2018-19. Annually, the Society’s Board of Directors transfers funds to the Foun-dation for scholarships in the names of the Society's award recipients. Each recipient designates the Nebraska edu-cational institution that will receive a one-time scholarship in his or her name. All three are 150-hour scholar-ships. After considering applications re-ceived in 2018, the Board approved the awarding of the 21 150-Hour Scholarships to accounting students from Creighton University, Doane University, Midland University, Ne-braska Wesleyan University, the Uni-versity of Nebraska at Kearney (UNK), the University of Nebraska Lincoln (UNL), the University of Ne-braska at Omaha (UNO), and Wayne State College. The Board also selected Jill Gathje of the University of Nebras-ka at Omaha as the Aureus Group

Scholarship winner for 2018-2019. For a number of years, the Aureus Group of Lincoln and Omaha has sponsored one of the Fifth-Year Scholarships. Fourteen Nebraska colleges and universities that will receive at least one scholarship from the Foundation in 2018. Nebraska educational institu-tions receiving only $1,500 general scholarships in 2018 are Union Col-lege, Peru State College, Bellevue University, Concordia University, Chadron State College and Hasting College.

Members Elected The Board also re-elected Dan Wells of Omaha, and elected Michelle Thornburg of Omaha and Doug Lacey of Ralston to three-year terms as Trus-tees beginning on July 1, 2018. Two Trustees, David Brandt of Hastings and Tony Pruss of Norfolk, completed two, three-year terms on the Board at the meeting. The Board of Trustees will next meet on November, 19 2018, at Ma-honey State Park.

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Nebraska CPA is published ten times annu-ally for members of the Nebraska Society of CPAs. Publication is monthly, with the excep-tion of two combined issues: February/March and December/January. Copy deadline is the tenth of the month prior to publication.

Nebraska Society of CPAs

635 South 14th Street, Suite 330 Lincoln, Nebraska 68508

(402) 476-8482 or (800) 642-6178 Fax (402) 476-8731

Email: [email protected] www.nescpa.org

OFFICERS Ryan L. Parker, Chairman

Patrick A Meyer, Chairman-Elect Chris J. Lindner, Secretary Shari A. Munro, Treasurer

Michelle R. Thornburg, Immediate Past Chairman

DIRECTORS

Ryan L. Burger Kelly J. Martinson Christi L. Olsen Erica R. Parks

Julie D. Bauman Elected Member of AICPA Council

Tamara A. Pierce

West Nebraska Chapter President

STAFF Dan Vodvarka, President

Kelly Ebert, Vice President Malia Saale, Staff Accountant

Lori Vodicka, Executive Assistant

Outstanding speakers from both the Governmental Accounting Standards Board (GASB) and the Financial Ac-counting Standards Board (FASB) will headline the Society’s two 2018 June conferences. The 22nd annual Not-For-Profit Organizations’ Conference will be held on June 27, 2018, and the Soci-ety’s 37th annual Nebraska Govern-mental Accounting & Auditing Conference is scheduled for June 28 and 29, 2018, at The Cornhusker in Lincoln. Jeffery D. Mechanick of the FASB will return to the Not-For-Profit Con-ference this year. He will open the Conference with a two “GAAP Up-date” presentations from 8:30 to 9:45

AM and from 10 to 10:50 AM. Mechanick is the Assistant Director for Nonpublic Entities at the FASB. He is the chairman of the FASB’s Not-for-Profit Advisory Committee and oversees support of the Private Com-pany Council. David R. Bean of the GASB has spoken at the Conference for over 20 years. He returns to open the second day of the Conference, (Friday June 29) with a “GASB Update” from 8:05 to 10:05 AM. Bean, who has been with the GASB since 1990, is GASB’s Director of Research and Technical Activities. He is a member of numer-ous organizations including the Gov-ernment Finance Officers Association, the Connecticut and Illinois Govern-

ment Finance Officers Associations, the Illinois CPA Society and the AICPA. The two annual conferences also have a good balance of local and re-gional speakers. Frank Crawford, one of the most popular speakers at Socie-ty conferences in recent years, will give two presentations at the Govern-mental Conference. Crawford is the President of Craw-ford & Associates, P. C. Certified Public Accountants in Oklahoma City, OK. In 2014, Frank was the recipient of the Association of Government Ac-countants’ (AGA) Private Sector Fi-nancial Excellence award. He will speak twice during the second day of the Governmental Conference. On Friday, June 29 Crawford will present “OCBOA for State and Local Govern-ments” from 10:20- 11:25 AM and then from 12:15 to 1:20 PM he will speak on “OCBOA-Case Studies”. The two-day conference will begin on Thursday, June 28 with a “Yellow Book Update” presented by James Dalkin of the U.S. Government Ac-countability Office. Dalkin will speak from 8:05 to 9:25 AM. The Conference’s agenda also in-cludes more outstanding speakers and two sets of breakout sessions on Thursday afternoon.

Ethics Presentations Both Conferences will include eth-ics presentations. Completing the NotGASB’S

David R. Bean FASB’S

Jeff D. Mechanick Continued on Page 11

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8 Hours of CPE –includes 1 Hour of

Ethics

  Thursday, June 28, 20187:30 to 8:00 AM Registration, Continental Breakfast 8:00 to 8:05 AM Welcome & Opening from Governmental A&A Committee Chairman, Chris Lindner8:05 to 9:25 AM “Yellow Book Update” – James Dalkin, US GAO

9:25 to 10:15 AM “Update from the State Auditor’s Office” - Mark Avery & Deann Haeffner, Nebraska Auditor of Public Accounts, Networking Break 10:15 - 10:25 AM

10:25 to 11:25 AM “State and Local Government Independence” – Ellen Goria, AICPA 11:25 AM to 12:15 PM Buffet Lunch

12:15 to 1:15 PM  “IT Controls and Cybersecurity” – Tim Weidman, Frankel Zacharia 1:15 to 2:05 PM “Financial Reporting Entity – Part I” – Paul Koehler, Networking Break 2:05 - 2:15 PM

2:15 to 3:05 PM “Financial Reporting Entity – Part 2” – Paul Koehler BREAKOUT SESSIONS

3:10 to 4:00 PM “Single Audit Quality Issues” – Ellen Goria, AICPA “School District Audits” – Julie Bauman, Marcy Luth & Bryce Wilson “Risk Aligned Approach to Auditing IT Controls” – Nana B. Amonoo-Neizer, KPMG LLP

4:10 to 5:00 PM “Fraud Cases in Nebraska” – Craig Kubicek, NE Auditors of Public Accounts “Risk Aligned Approach to Auditing IT Controls” – Nana B. Amonoo-Neizer, KPMG LLP

Friday, June 29, 2018 7:30 to 8:00 AM Continental Breakfast 8:00 to 8:05 AM Welcome & Opening from Governmental A&A Committee Chairman, Chris Lindner

8:05 to 10:05 AM “GASB Update” – David Bean, GASB, Networking Break 10:05 - 10:20 AM 10:20 to 11:25 AM “OCBOA for State and Local Governments” - Frank Crawford, Crawford & Associates

11:25 AM to 12:15 PM Buffet Lunch                  12:15 to 1:20 PM  “OCBOA – Case Studies” - Frank Crawford, Crawford & Associates, Networking Break 1:20 ‐ 1:35 PM 

     1:35 to 3:15 PM  “Building Your Firm’s Ethical Culture” – Jeremy Wortman, HRD Initiatives – Ethics 2 Hours                   3:15 PM  Conference Adjourns

THE NEBRASKA SOCIETY OF CPAS’ JUNE CONFERENCES Location: The Cornhusker Hotel, 333 S. 13th Street, Lincoln, Nebraska

16 Hours of CPE –includes 2 Hours

of Ethics

Wednesday, June 27, 20187:45 to 8:20 AM Registration, Continental Breakfast 8:20 to 8:30 AM Welcome & Opening from Not-For-Profit Committee Chairman, Kurt Meisinger8:30 to 9:45 AM “GAAP Update, Part 1” – Jeff Mechanick, FASB, Networking Break 9:45 - 10:00 AM

10:00 to 10:50 AM “GAAP Update, Part 2” – Jeff Mechanick, FASBBREAKOUTSESSIONS

10:55 to 11:45 AM “Nebraska Sales & Use Tax Information for Not-For-Profit Organizations” – Steve Drzaic, Nebraska Dept. of Revenue

“Single Audit Quality” – Ellen Goria, AICPA “Cyber Security” – Tim Weidman, Frankel Zacharia

11:45 AM to 12:30 PM Buffet Lunch             12:30 to 1:20 PM “Leading Multiple Generations within Your Firm” – Jeremy Wortman, HRD Initiatives 

1:25 to 2:40 PM         “Tax Update” – Marc Berger, BDO, Networking Break 2:40 - 2:55 PM 2:55 to 3:45 PM  “Implementing FASB’s NFP Reporting Challenges” – Dale Larson, Dallas Theological Seminary 3:55 to 4:45 PM          “Ethics” – Tom Purcell, Creighton University 

                            4:45 PM         Conference Adjourns 

21st ANNUAL NOT-FOR-PROFIT ORGANIZATIONS’ CONFERENCE ~ JUNE 27, 2018

37th Annual Governmental Accounting & Auditing Conference ~ JUNE 28-29, 2018

Page 5: Joni Sundquist - nescpa.orgJoni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker, Society Chair-man of the Board,

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CONFERENCE REGISTRATION FORM PLEASE MAKE YOUR SELECTIONS BELOW AND EMAIL ([email protected]), FAX (402.476.8731) OR MAIL (NEBRASKA SOCIETY OF

CPAS, 635 S. 14TH STREET, SUITE 330, LINCOLN, NE 68508) THIS FORM. YOU MAY ALSO REGISTER ONLINE. YOU WILL RECEIVE A CONFIRMATION FOR THE REGISTRATION.

Confirmation and/or Credit Card Receipt: Email Mail Address:

Attendee: Firm:

Mailing Address: Special Accommodations:

Contact Name: Contact Number/Email:

NOT-FOR-PROFIT ORGANIZATION’S CONFERENCE - JUNE 27, 2018: $240 - Not-For-Profit Company Employee $260 - Society Member (and non-CPA, accounting staff of a sponsoring Society member) $290 - Society Nonmember

Please select one breakout session by filling in the circle ().                   10:55 to 11:45 AM  “Nebraska Sales & Use Tax Information for Not‐For‐Profit Organizations” –Steve 

Drzaic, Nebraska Dept. of Revenue        “Single Audit Quality” – Ellen Goria, AICPA       “Cyber Security” – Tim Weidman, Frankel Zacharia 

NEBRASKA GOVERNMENTAL ACCOUNTING & AUDITING CONFERENCE – JUNE 28 & 29, 2018: $420 - Two Days Society Member (and non-CPA, accounting staff of a sponsoring Society member) $450 - Two Days Society Nonmember $340 - One Day Society Member June 28 June 29 Please select one breakout session for each session by filling in the circle ().

3:10 to 4:00 PM “Single Audit Quality Issues” – Ellen Goria, AICPA “School District Audits” – Julie Bauman, Marcy Luth & Bryce Wilson  “Risk Aligned Approach to Auditing IT Controls” – Nana B. Amonoo‐Neizer, 

KPMG LLP 4:10 to 5:00 PM “Fraud Cases in Nebraska” – Craig Kubicek, NE Auditors of Public Accounts     “Risk Aligned Approach to Auditing IT Controls” – Nana B. Amonoo‐Neizer, 

KPMG, LLP

Card Number        

FOR JUNE GOVERNMENTAL &

NOT- FOR-PROF I T 2018 CONFERENCES

 

$ Check to be Mailed - Payable to The Nebraska Society of CPAs Total Due Payment Information:

Visa Credit Card: MasterCard

CVV Code Expiration Date

A $35 late fee will be applied to registrations postmarked, online or faxed less than 10 days prior to the conference dates.

Cardholder Name  

Cardholder Signature  

Billing Address  

Page 6: Joni Sundquist - nescpa.orgJoni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker, Society Chair-man of the Board,

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By Jim Boomer CEO

Boomer Consulting, Inc. Think of all of the passwords you manage right now. How many of them are written down? Do you use the same password for multiple websites? We know these actions put our data at risk,

but we do them anyway because other-wise, we couldn’t possibly remember the hundreds – if not thousands – of pass-words we’d need to memorize for all of the apps, devices and websites we use in our personal and professional lives. It’s not hard to see why people don’t like passwords. We share a lot of sensi-

tive personal information with compa-nies, including Social Security numbers, health records, and bank account and credit card numbers. Even password managers don’t eliminate the risk but they do have features that will help you to minimize it. No matter how careful you are with your passwords, your data is increasing-ly vulnerable to hackers. Accenture’s recent report Digital Trust in the Internet of Things Era polled 24,000 consumers in 24 countries and found that less than half (46%) feel confident in the security of their personal data and 77% indicated they’re interested in using password alternatives to protect their information. Just a few years ago, those alternatives were rare and expensive to adopt, but today the shift away from passwords is accelerating. So let’s take a look at the options out there. I covered multi-factor authentication in detail for this space recently. While multi-factor authentication often uses passwords, it also requires one or two additional pieces of information. Strong authentication requires two or more of the following: 1. Something you know. A pass-

word, PIN or answers to previously established security questions.

2. Something you have. A physical object in your possession, such as a token or text-enabled phone.

3. Something you are. Biometr ic features such as a fingerprint.

I touched on biometric authentication above, but it involves much more than just a fingerprint. Facial, voice recogni-tion and iris scanners are the most popu-lar methods after fingerprints. But com-panies are experimenting with many more biometric authentication methods to replace passwords, including heart-beat recognition, vein recognition, hand and finger geometry.

One-time passwords One-time passwords (OTP) are an authentication mechanism that uses non-persistent passcodes that are valid for only one session. For each login attempt, a passcode is generated and sent to the associated phone number or email ad-dress. The user has to enter the passcode to access the account, and it is only valid

Continued on Page 7

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Page 7: Joni Sundquist - nescpa.orgJoni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker, Society Chair-man of the Board,

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“PASSWORD DYING” ... From Page 6

for the duration of one session. Subse-quent logins require a new passcode. Microsoft introduced an alternative to traditional passwords with Windows 8. With a touchscreen PC, you can use a finger to doodle on the Windows wallpa-per. That doodle becomes your pass-word. For example, suppose your wallpaper has a picture of a road leading into the mountains. You might trace the sides of the road with your finger, then circle the highest mountain peak. Those gestures become your password. To log into the computer, you simply perform the same doodle, in the same sequence and direc-tion as they were originally performed. While each of these technologies has their own benefits and pitfalls, almost everyone agrees that passwords alone are too insecure for modern use. Our digital world requires more privacy and security than passwords can provide. We’ll likely see a decline in password use in the next few years as alterna-tives supplement or replace them.

 As you plan your continuing professional education courses for the Fall, please keep in mind the technology‐focused Live seminars that we offer through the Nebraska Society of CPAs.  

     

6/18  K2’s Advanced Excel Reporting – Best Practices, Tools, and Techniques  Omaha  

6/18  K2’s Top PDF Features You Should Know  Omaha  

6/19  K2’s Small Business Internal Controls, Security, and Fraud Prevention and Detection 

Omaha  

     

  K2 Webinars  

K2 Enterprises also offers a broad curriculum of CPE webinars on a variety of topics, including Excel, QuickBooks, PDFs,  accounting  solutions,  and Microsoft Office. As  a National Association of  State Boards of Accountancy (NASBA) approved sponsor of webinar  learning, you are assured of a high‐quality event, that is both convenient and affordable. Join K2 Enterprises at our technology webinars and earn CPE credit from the comfort and convenience of your home, your office, or any  location with  Internet access. Each  is sure to make you more efficient and productive  in the application of technology to solve common, everyday business problems.  

For information on the topics and dates, please visit ww.k2e.com/webinars. On Site

Not only is K2 On Site technology training a cost effective option, the curriculum can be customized to address specific issues important to you and your staff. And because we work cooperatively with NECPA and are registered with NASBA you can have confidence that our On Site training qualifies for appropriate CPE credit. Employees often feel more relaxed in On Site sessions and are more willing to ask questions unique  to  their specific  technology needs.  If you are  interested  in  learning more about the value of On Site training, please contact NECPA or Pam Falconello ([email protected], (888) 542‐9390) to discuss these opportunities.   

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Page 8: Joni Sundquist - nescpa.orgJoni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker, Society Chair-man of the Board,

2018 COURSE CALENDAR Date Course Conference / Course Title Type Discussion Leader Facility & Location

JUNE

4 FSBT FASB's "Big 3" - Revenue Recognition, Leases, and Financial Instru-ments

AA Jeff Lieman, Surgent German American Society, Omaha

5 CRAU Compilations, Reviews, And New Preparations: Engagement Perfor-mance and Annual Update

AA Jeff Lieman, Surgent German American Society, Omaha

6 RSLT4 The Anatomy of Resolving State and Local Tax and Incentive Audits, Claims and Appeals - Morning Course

TX Nick Niemann & Matt Ottemann, McGrath North Law Firm

German American Society, Omaha

6 PRP4 Peer Review Prep Course - Afternoon Course AA Jodi Rinne, HSMC Orizon, LLC German American Society, Omaha

11 AFPL Audits of 401(k) Plans: New Developments and Critical Issues For An Effective and Efficient Audit

AA Daryl Krause, Surgent Mahoney State Park, Ashland

12 SMBP Accounting, Audit, and Attest Update For Practitioners With Small-Business Clients

AA Daryl Krause, Surgent Mahoney State Park, Ashland

14 EPXY Estate and Financial Planning for Generations X and Y TX Anthony Rocca, Werner Rocca Mahoney State Park, Ashland

15 BABY Estate and Financial Planning for the Soon Retiring Baby Boomer Client TX Anthony Rocca, Werner Rocca Mahoney State Park, Ashland

18 EXR4 Advanced Excel - Reporting - Best Practices, Tools and Techniques - Morning Course

MA Steve Phelan, K2 Enterprises German American Society, Omaha

18 TPF4 Top PDF Features You Should Know - Afternoon Course MA Steve Phelan, K2 Enterprises German American Society, Omaha

19 ITC Small Business Internal Controls, Security, and Fraud Prevention and Detection

AA Steve Phelan, K2 Enterprises German American Society, Omaha

21 ETH4 Ethical Conduct For CPAs In Today's Changing Practice Environment - Morning Course

ET Bryan Slone, CPA Gering Civic Center, Gering

21 MYTU4 2018 Mid Year Tax Update - Afternoon Course TX Bradley P. Burnett, J.D., LL.M. Gering Civic Center, Gering

22 TCJA Tax Cuts and Jobs Act: A Complete Analysis TX Bradley P. Burnett, J.D., LL.M. Gering Civic Center, Gering

27 NFPC 22nd Annual Not-For-Profit Conference Various The Cornhusker, Lincoln

27 AROC-WEB Advising Religious Organizations and Churches: A Holistic Approach to Tax and Compliance Issues (Co-Sponsored with the IA Society of CPAs)

TX Chuck Borek, CPA, JD Webcast (8:00 AM to 4:00 PM)

28-29 GAAC 37th Annual Governmental Nebraska Accounting & Auditing Conference Various The Cornhusker, Lincoln

JULY 9 EBPE Auditing Employee Benefit Plans AA Randy Dummer, AICPA Mahoney State Park, Ashland

11 ASD Audits of Nebraska School Districts AA Julie D. Bauman, CPA, & Marcy J. Luth, CPA

Fairfield Inn & Suites, Grand Island

12 BEST The Best Estate and Financial Planning Topics for 2018 TX Art Werner, Werner Rocca Mahoney State Park, Ashland

13 NIDT The Complete Guide to Nebraska and Iowa Inheritance Taxation TX Art Werner, Werner Rocca Mahoney State Park, Ashland

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Page 9: Joni Sundquist - nescpa.orgJoni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker, Society Chair-man of the Board,

The Internal Revenue Service in May warned of a new twist tied to an old scam aimed at international taxpayers and non-resident aliens. In this scam, criminals use a fake IRS Form W-8BEN to solicit detailed personal identification and bank account information from vic-tims. Here’s how the scam works. Crimi-nals mail or fax a letter indicating that although individuals are exempt from withholding and reporting income tax, they need to authenticate their infor-mation by filling out a phony version of Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting. Recipients are requested to fax the infor-mation back. The Form W-8BEN is a legitimate U.S. tax exemption document, however, it can only be submitted through a with-holding agent. In the past, fraudsters have targeted non-residents of the U.S. using the form as a lure to get personal details such as passport numbers and

PIN codes. The legitimate IRS Form W-8BEN does not ask for any of that infor-mation. The phony letter or fax also re-fers to a Form W9095, which does not exist. Furthermore, the IRS doesn’t re-quire a recertification of foreign status.

Scam variations Be alert to bogus letters, emails and letters that appear to come from the IRS or your tax professional requesting in-formation. Scam letters, forms and e-mails are designed to trick taxpayers into thinking these are official communica-tions from the IRS or others in the tax industry, including tax software compa-nies. These phishing schemes may seek personal information, including mother’s maiden name, passport and account in-formation in order steal the victim’s identity and their assets.

Note that the IRS does not: Demand that people use a specific

payment method, such as a prepaid debit card, gift card or wire transfer. The IRS will not ask for debit or credit card numbers over the phone.

For people who owe taxes, make payments to the United States Treasury or review IRS.gov/payments for IRS online options.

Demand immediate tax payment. Normal correspondence is a letter in the mail and taxpayers can appeal or question what they owe. All taxpay-ers are advised to know their rights as a taxpayer.

Threaten to bring in local police, immigration officers or other law enforcement to arrest people for not paying. The IRS also cannot revoke a license or immigration status. Threats like these are common tac-tics scam artists use to trick victims into believing their schemes.

Taxpayers who receive the IRS phone scam or any IRS impersonation scam should report it to the Treasury Inspector General for Tax Administra-tion at its IRS Impersonation Scam Re-porting site and to the IRS by emailing [email protected] with the subject line “IRS Impersonation Scam.”

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Page 10: Joni Sundquist - nescpa.orgJoni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker, Society Chair-man of the Board,

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In Memoriam

Ronald J. Baxa Topeka, KS

1957—2018

Nebraska Certificate # 3042 Society Certificate # 2334

________________________ The Society has made a donation

To the Society Foundation in Remembrance of Ronald

The Nebraska Board of Public Accountancy is pleased to announce the release of a new website. Work-ing closely with Nebraska Interac-tive, the goal of the project was to modernize the site by making it as-sessable to smart phones and creat-ing an easier environment to navi-gate and find important information for the public, prospective examina-tion candidates, CPAs, and other registrants.

“My hats off to the team that built our new website! This in-cludes our partners from Nebraska Interactive, including Wes Fair-head and Natalie Erb along with Board staff members Heather My-ers and Kristen VanWinkle. Board

members also provided direct in-put” said Accountancy Board Ex-ecutive Director Dan Sweetwood.

Sweetwood added that the Board welcomes any comments persons may have regarding the site. Those questions can be di-rected to the Board office at (402) 471-3595 or email comments to [email protected].

The Lincoln Chapter of the Association of Government Accountants (AGA) will celebrate its 40th anniversary of chartering during the summer of 2018. The Chapter will be holding a special summer event with a celebrity speak-er yet to be confirmed. Details of the event will be posted on the Chapter’s website early in June. Please check the Chapter’s website for details and regis-tration at: https://www.agacgfm.org/Chapters/LincolnNebraska/Home.aspx.

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Nebraska Society membership applications have been received from the following individuals. Objections should be filed with the Secretary of the Nebraska So-ciety of CPAs: Christopher J. Lindner, BKD, LLP, 1248 ‘O’ Street, Suite 1040, Lincoln, NE 68508. Michael R. Abramson,

Labenz & Associates, LLC; Lincoln

Crystal L. Edson, Woods & Durham, Chartered; Holdrege

Jordan L. Fisher, Lutz & Co, PC; Hastings

Justin R. Fitchner, Berger & O’Toole CPAs, LLC; Oma-ha

Azalia Khousnoutdinova, Preferred Professional Insur-ance Co; Omaha

Michaela M. Kroft, Frankel

Zacharia, LLC; Omaha Heather M. Lightwine,

Manning & Associates, PC; Crete

Bradley J. Liska, Moore & Hawks, PC; North Platte

Demi M. Rodocker, Lutz & Co, PC; Grand Island

Marian L. Shanks, Advance Services Inc.; LaVista

Nicholas D. Siebler, Infinity CPA Group, LLC; Omaha

Mark A. Stange, Watts & Hershberger CPAs; Lincoln

-For-Profit Conference will be former Society Chairman of the Board Tom Purcell of Creighton University in Omaha giving a presentation on “Ethics” from 3:55 to 4:45 PM on Wednesday, June 27. His presenta-tion will count for 1 hour of ethics continuing professional education (CPE) credit and the conference counts for 8 hours of CPE. Jeremy Wortman of HRD Initiatives of Lin-coln will conclude the Governmental Conference on Friday, June 29 with a presentation on “Building Your Firm’s Ethical Culture” from 1:35 to 3:15 PM. His presentation will count for 2 hours of ethics CPE and the con-ference for 16 hours of CPE.

More Information For more information about the Governmental and NFP confer-ence’s agendas and registration forms --- check the pages 4 and 5 of this newsletter and the Society’s website at www.nescpa.org

“GASB, FASB” ... From Page 3

 

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Page 12: Joni Sundquist - nescpa.orgJoni Sundquist of Lincoln has been named the new President/Executive Director of the Nebraska Society of CPAs. Ryan Parker, Society Chair-man of the Board,

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Nebraska Society of CPAs 635 South 14th Street, Suite 330 Lincoln, Nebraska 68508

PRSRT STD US POSTAGE

PAID FIRESPRING

Nebraska Practices for Sale: NE Nebraska CPA $293K gross, tax (94%), accntng (3%), (3%) other. For more information call 1-800-397-0249 or visit www.APS.net. THINKING OF SELLING YOUR PRACTICE? Accounting Practice Sales is the leading marketer of ac-counting and tax practices in North America. We have a large pool of buyers, both individuals and firms, looking for practices now. We also have the experience to help you find the right fit for your firm and negoti-ate the best price and terms. To learn more about our risk-free and confi-dential services, call Trent Holmes at 1-800-397-0249 or email [email protected].

Director of Accounting and Finance This role will be a key member of the Senior Management Team. It is charged with owning and developing the budgeting, forecasting, business modeling, profitability analyses, planning and reporting as-pects of this growth-oriented fiber and data transport company. There will be a strong emphasis on data driven solutions and the ideal can-didate will possess an analytical mind, an ability to communicate complex ideas effectively, and a strong desire to make an impact. This position also coordinates and administers the plans for the financial control of the operation, including payroll, employee bene-fits, tax planning, accounts receivable, legal contract review, and reg-ulatory-related activities. The ideal candidate should have substantive knowledge of gener-ally accepted accounting principles, practices, processes, and proce-dures. This role will be responsible for improving, enhancing, and growing the foundations of all accounting activities for the organiza-tion. The ideal candidate should also enjoy rolling up their sleeves to solve problems and be energized by a hands-on role that must balance the execution of daily operations while leading a small team.

Primary responsibilities include: Direct, supervise, and oversee all financial, accounting, and billing

functions, including the management of financial vendor relation-ships

Analyze monthly, quarterly, and annual financial reporting, and prepare board presentations

Present financial results at Quarterly Board Meetings Develop annual and multi-year financial plans and forecasts Review past and current financial performance against budgeted

estimates, and develop models that assist management in under-standing the financial impact of business decisions

Work with the management team to develop and prepare budget documentation and reports for all departments

Assist with special projects to support strategic decision-making, business forecasting, optimizing company re-sources, and improving profitability through strategies related to pricing, manpower, and product development

Analyze and verify internal consistency, completeness, and credibility of all reporting

Develop insightful financial models to aid in analysis and scaling of operating departments such as services and data center

Develop company and product line profitability analyses, help drive and execute plans to improve profitability

Coordinate with auditors and accounting staff for the year-end financial statement review

Experience/knowledge: Excellent communication skills, both written and verbal Bachelor’s degree in Finance or Accounting; CMA or

CPA preferred Five to 10 years’ experience in a mid- to senior-level cor-

porate finance or accounting position Knowledge of finance, accounting, budgeting, and cost-

control principles including GAAP Experience in budgeting/forecasting/variance analysis Proficiency in Windows applications (Word, Excel, Pow-

erPoint, Access), with demonstrated expertise in complex Excel-based financial modeling

Strong organizational skills Project/task management experience and cross-functional

coordination skills Experience leading and motivating in a leadership role Telecom Industry knowledge a plus

To Apply: Please send resume to [email protected]

The Nebraska Society is co-sponsoring with the Iowa Society of CPAs a Webcast on June 27, 2018. The Course title is “Advising Reli-gious Organizations and Church-es: A Holistic Approach to Tax and Compliance Issues (AROC-WEB). This is an update course in the fields of tax and business law. The membership price is $275 and the nonmember $375. The course is for

accountants and religious organiza-tion employees and is a comprehen-sive exploration of the many interre-lated issues that are commonly en-countered by CPAs advising reli-gious organizations and churches. The course will be from 8:00 AM to 4:00 PM (8 hours of CPE) on June 27. For more details of the course and to register, please go to https://www.nescpa.org/cpecourses.php and click on the course.