Louisiana CPA - Bitly

Louisiana CPA

October 2016 • Vol. 42, Issue 4

Education Issue

Back To

School

Candice Roché Boucree, CPA goes from teacher to student

Programs to Fill Many Happy Returns: LCPA Members With Expanding Our CPA Pipelineor retransmission. A PhD Content Life for Me protected an Adjunct Advantage Footprint on Campus is copyright and provided for personal use onlythe - notCPA for reproduction For reprints please contact the Publisher.

www.accountingpracticesales.com

DR VEN HELP to

YOU

SUCCEED

A Successful Sale Requires EXPERIENCE If you have decided the time is right to sell your practice, I have the experience and will be just as driven to help you sell your practice as your were to building it.

877-345-7722

I will analyze your practice to determine the highest value, market your practice in all the right places, and help with financing if necessary. I even have buyers ready to make this a reality and ensure you get the best price.

e-mail: [email protected] Fax: 541-465-9410

Take the first step to successful sale. Call or e-mail me on a confidential no obligation basis.

Contact Mark W. Hause:

Content is copyright protected and provided for personal use only - not for reproduction or retransmission. For reprints please contact the Publisher.

Contents

Education Issue

October 2016 Volume 42, Issue 4

2016-2017 Chair Ralph Bender, CPA, CGMA 2016-2017 Chair-Elect Gina Rachel, CPA 2016-2017 Treasurer Kandace Mauldin, CPA LCPA Executive Director/CEO Ron Gitz, CPA, CGMA [email protected] • 504.904.1123 Publisher & Editor Ann Lupo [email protected] • 504.904.1125 Advertising Inquiries Ann Lupo [email protected] • 504.904.1125

Back To School This Education Issue of Lagniappe focuses on all things academia — CPAs who went back to school, CPAs currently teaching as adjuncts in universities, successful accounting programs, and a few future CPAs who are increasing LCPA’s presence on Louisiana college campuses.

We start with Candice Roché Boucree, who after nine years of teaching accounting and business courses at Xavier University of Louisiana, decided to go back to school to earn her PhD. Learn what motivated this full-time accounting instructor to turn the tables and become a student once again.

Exhibit/Sponsorship Inquiries Misean Reed [email protected] • 504.904.1133

5

Candice Roché Boucree, CPA on LSU’s campus where she is studying to earn her PhD.

Features

2400 Veterans Blvd. Suite 500 Kenner, LA 70062-4739 504.464.1040 • 800.288.5272 fax 504.469.7930 lcpa.org facebook.com/lcpa.org @LouisianaCPAs

Lagniappe is published nine times a year and is the official publication of the Society of Louisiana CPAs, a nonprofit professional association serving the interests of more than 7,000 members and the public. Opinions expressed do not necessarily reflect those of the Society. LCPA reserves the right to refuse any advertising. Any federal tax advice contained in this publication is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties imposed under the Internal Revenue Code.

7

Many Happy Returns: A PhD Life for Me

9

A PhD for me? Really?

11

LCPA Members With an Adjunct Advantage

12

UL Lafayette’s MS Accounting Program Turns Two

12

ULM’s First-Time Exam Pass Rate Earns A+

13

Campus Ambassadors: Expanding Our CPA Footprint

14

Proposed §2704 Regulations

17

Time for a Career Path Discussion With Your Team?

7

13

14

In Every Issue 3

Highlights

18

CPE Around the State

21

Classifieds

24

Wellness: Activity Tips for Fall Fitness

17

Advertisers Index Accounting Practice Sales, Inside Front Cover; Gilsbar Pro-op Exchange (Health and Benefits Management), page 22; Lumpkin Agency/Cost Segregation Services, page 4; Cost Segregation Initiatives, page 8; Alexander & Sanders Professional Liability, page 10; Bryson Law Firm, page 14-15; Postlethwaite & Netterville, page 16; Campus Federal, page 16; Lumpkin Agency/Cost Segregation Services, page 17; Paychex, page 18; Title Exchange Company, page 18; Kaiser Sotheby’s International Realty, page 20; CPA Charge, page 22; Absolute Document Destruction, page 24; ADP, Inside Back Cover; GilsbarPRO Liability Insurance, Back Cover Advertise products and services in Lagniappe. For rate information visit lcpa.org/LagniappeAdRates


YOU PREPARE FOR EVERYTHING

DON’T STOP NOW.

TERM LIFE INSURANCE

LONG TERM DISABILITY INSURANCE

No Paramed Exam required with a clean application for some policies

Competitive, unisex rates

No dramatic rate increase for the life of the policy

Trusted carrier partners

Group and Individual coverage available. •••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••

TOMORROW’S PREPARATION STARTS TODAY!

Co

lin

Bry

an

De

bo

rah

855.867.0057 Serving Association Members Since 1959

www.Gilsbar.com/contactus


Highlights IRS Warns Tax Professionals of New e-Services Email Scam The IRS issued an urgent alert to tax professionals who use IRS e-services to beware of an email asking them to update their accounts and directing them to a fake website. The subject line for the fraudulent email is “Security Awareness for Tax Professionals.” The “From” line is “Your e-Services Team.” It has both an IRS logo and an e-services logo that hyperlinks to a URL verified as a phishing site. The spoofing site poses as an e-services registration page. The scammers are attempting to exploit current IRS efforts to strengthen the e-services authentication process and its ongoing communications with tax professionals about their accounts. Scammers are attempting to steal e-services usernames and passwords or even more personal data through a registration page. If e-services users have already clicked on the fake logo and provided their

username and password, they should contact the e-services help desk to reset their accounts. If the same password is used for other accounts, they should be changed as well. As an extra precaution, users should perform a deep security scan on their computers, re-evaluate their security controls and be alert to any other signs of identity theft or data compromise. Tax professionals should always go directly to IRS.gov to access e-services, never click on any links provided in emails. Tax professionals who receive a suspicious email should send it as an attachment to [email protected] and then delete it. Recipients should not click on any links.

2017 PTIN Renewal Underway IRS reminded the nation’s more than 725,000 federal tax return preparers that they must renew their Preparer Tax Identification Numbers (PTINs) for 2017. All current PTINs will expire Dec. 31, 2016.

Anyone who prepares or helps prepare any federal tax return, or claim for refund, for compensation must have a valid PTIN from the IRS. The PTIN must be used as the identifying number on returns prepared. For those who have a 2016 PTIN, the renewal process only takes a few moments online. The renewal fee is $50. If you cannot remember your user ID and password, there are online tools to assist you. Preparers can get started at www. irs.gov/ptin. If you are registering for the first time, the PTIN application fee is $50.00 and the process may also be completed online. Paper Form W-12, IRS Paid Preparer Tax Identification Number Application and Renewal, is available for paper applications and renewals, and takes four to six weeks to process. Failure to have and use a valid PTIN may result in penalties. All enrolled agents, regardless of whether they prepare returns, must have a PTIN in order to maintain their status. v

Truth. Strength. Fortitude. Content is copyright protected and provided for personal use only - not for reproduction or retransmission.

For reprints please contact the Publisher.

3

FOR YOUR CLIENTS WHO OWN COMMERCIAL BUILDINGS...

IMPRESSIVE BUILDING.

Ed Martin Martin Automotive

Mark Lumpkin The Lumpkin Agency

IMPRESSIVE TAX SAVINGS. When Ed Martin built his brand-new Martin GMC facility in Lake Charles, he and his CPA called in the Lumpkin Agency to perform a Cost Segregation study—and the result was accelerated depreciation, lower taxable income and significant tax savings. Did Ed Martin get a good result from applying Cost Segregation to his building? “It was better than good,” he said, “It was excellent!” If you have clients who own commercial buildings and may benefit from Cost Segregation, the Lumpkin Agency can provide a no-cost, no-obligation estimate of how much they can save in taxes. Call the Cost Segregation specialists. Put us to work helping you help your clients.

7904 Wrenwood Blvd., Suite A, Baton Rouge

(225) 291-0046 lumpkinagency.com

Mark Lumpkin Tanya Oubre, CPA Content is copyright protected and provided for personal use only - not for reproduction or retransmission. [email protected] [email protected] For reprints please contact the Publisher.

Back To

This Education Issue of Lagniappe focuses on all things academia — CPAs who went back to school, CPAs currently teaching as adjuncts in universities, successful accounting programs, and a fuew future CPAs who continue to increase LCPA’s presence on Louisiana college campuses.

School

We start with Candice Roché Boucree, who after nine years of teaching accounting and business courses at Xavier University of Louisiana, decided to go back to school to earn her PhD. We interviewed Candice on Louisiana State University’s campus where she is enrolled in the E.J. Ourso College of Business, to find out what motivates a fulltime accounting instructor to turn the tables and become a student once again. v

Special Features: • • • • •

Candice Roché Boucree, CPA

Back to School with Candice Roché Boucree Many Happy Returns: A PhD Life for Me A PhD for me? Really? LCPA Members With an Adjunct Advantage UL Lafayette’s MS Accounting Program Turns Two • ULM’s First-Time Exam Pass Rate Earns A+ • Campus Ambassadors: Expanding Our CPA Footprint


Pg 6 Pg 7 Pg 9 Pg 11 Pg 12 Pg 12 Pg 13

5

Lagniappe: What benefits as a CPA do you see in becoming a PhD? Candice: I feel well suited to leverage my CPA attributes in a research setting. I feel there is value to bringing practical experience to the PhD Accounting program because the skills of the CPA certification and PhD degree complement one another. Lagniappe: You’re now in your first semester. How’s it been balancing school, your work on campus, and time with your family?

Candice Roché Boucree Goes from Teacher Back to Student

Candice: I am part of a family with high regard and respect for education. As a result, my husband, children, and I have tremendous support from our immediate and extended family. I consciously balance my life as a student with other roles as a mother, wife, daughter, and friend. I see the PhD program as of finite duration. I can fully commit to the program; it’s achievable.

Lagniappe: So, what inspired you to go back to school to get your PhD?

Lagniappe: What’s your typical school day like?

Candice: I want to expand my current CPA-MBA skill set and my career opportunities. Specifically, I want to conduct research to contribute to the accounting profession. I also hope to inspire my students to pursue accounting at a higher level.

Candice: I spend 10 to 12 hours a day on campus attending class, studying, or working the accounting labs. I enjoy the lab and interacting with undergrads because I feel my past experience as an instructor gives me an advantage when trying to make complex concepts more understandable.

Lagniappe: Why did you select to pursue your accounting PhD from LSU? Candice: LSU’s PhD Accounting program is competitive and well respected. As a native Louisianan, I desired to be a part of the state’s flagship public institution. I have always had admiration and respect for LSU.

Lagniappe: How do you feel being the student and not the teacher? Candice: I enjoy being the student. I can see each class meeting from both sides. I appreciate my professors’ hard work and dedication to provide the most stimulating learning opportunities.

I work as hard as possible to be a topperforming student to get the most from each class session. Lagniappe: In addition to your studies, what are your work responsibilities as PhD candidate? Candice: I work as a graduate assistant for 20 hours per week. My duties are split between teaching assistant and research assistant responsibilities. Lagniappe: What’s the focus of your research? Candice: I am currently working on auditing research. I am open to other areas of focus; I have not yet decided on my dissertation topic. Lagniappe: What would you say to other CPAs to encourage them to pursue a PhD, or to consider becoming an adjunct professor? Candice: Go for it! Having a CPA helps with the rigor of a PhD program. Working with students is a rewarding experience. Practicing CPAs bring depth to classroom discussions, and varying levels of practical and current experience. It is important for accounting students to see diverse faculty — of different genders and ethnic backgrounds. Lagniappe: What are your plans beyond your PhD? Candice: I expect to finish in Spring 2020, and when I do, I plan to pursue a tenuretrack faculty position that best fits my skills and background. v

Candice Roché Boucree, CPA with Tommy Phillips Jr., PhD, CPA, CGMA, Chair and Thomas H. Daigre Endowed Chair of the LSU Department of Accounting, and Candice’s PhD Advisor, Kenneth Reichelt, PhD, CA, CPA (Can), Associate Professor and KPMG Professor of Accounting

6


Many Happy Returns: A PhD Life for Me Accounting instructors Adena LeJeune and Jean Meyer made the decision to return to school later in their career to further their education. They share their journey to attaining their PhD, the challenges they faced, and the benefits they’ve gained in the years that followed.

Adena

Dr. Adena LeJeune, CPA

Dr. Jean Meyer, CPA

What inspired you to go back to get your PhD? It’s simple…I love to teach. Although I was already teaching full-time with my Master’s degree, I knew I would be a more valuable member of the academic team if I earned a PhD.

What inspired you to go back to get your PhD? I had worked in public accounting, then in the health care industry for more than 20 years, and was ready for a change. I made an appointment with the Accounting PhD advisor at LSU to discuss the possibility of going back to school. I explained that while I knew how to do accounting, I didn’t know how to teach. He told me if I wanted to teach accounting at the college level, I should consider talking with the Adult Education PhD advisor. I had never considered a PhD in something other than accounting. After several meetings with advisors in the MBA and Adult Education programs, I knew it was right for me.

Louisiana College Associate Professor

Loyola University of New Orleans Visiting Assistant Professor of Accounting

As a CPA, what are the benefits of becoming a PhD? For someone working in the academic area, there are benefits in terms of tenure, promotion, compensation, and job mobility. Beyond those obvious benefits, the experience of earning my PhD taught me to think more analytically and to look beyond the surface in solving problems and looking for answers. How did you balance work while in the PhD program? It was hard. I was a full-time faculty member with responsibilities for teaching, student advising, scholarly contributions, and campus committee work. I also had two young children. I had great support from my husband and my mother who helped me as much as they could. Time management was extremely important. I kept something to work on with me at all times. If I was waiting in a doctor’s office or in the pick-up line at my children’s school, I was grading tests for work or reading journal articles for my research. No time was wasted. Explain the research component of your PhD studies. I did my dissertation research at the time when it appeared the US was on a fast track to adopting IFRS. I studied what type of continuing professional education CPAs would need to prepare for this change if it happened. LCPA assisted with my research by sending an electronic survey to all members. This help in collecting data was a significant contribution to my research. Why should CPAs consider a full-time or part-time career in education? In my opinion, accounting education is one of the most rewarding careers you could have. I truly enjoy interacting with students every day. I also have the satisfaction of knowing when my students graduate with a degree in accounting they are ready to begin a career path that can take them anywhere they want to go in the business world. I would encourage any CPA who enjoys interacting with others to consider teaching as an adjunct professor. That’s how I got hooked. I had an opportunity to teach one evening course and decided to try it. By the second week of class, I knew I had found my purpose. A few years later, I had an opportunity to teach full-time, and it was a no-brainer. Now, in my 15th year as a full-time faculty member, I still love my job. v

Jean

As a CPA, what are the benefits of becoming a PhD? What you contribute to class discussions through your work experience has great value particularly to students who are just joining the workforce. When I was younger, I remember being stressed and cramming for exams, but as an older student you learn how to study more effectively when time is a scarcity and realize one bad exam isn’t the end of your career. How did you balance work while in the PhD program? Actually, it was serendipity. Just before being accepted into the PhD program at LSU, I was looking through the want ads, and found a small ad for someone to teach one semester of financial and managerial accounting at Xavier. I sent in my resume and was surprised when I got a call to interview. Seven years later, I finished my PhD and was offered my current position at Loyola immediately after graduating from LSU. Explain the research component of your PhD studies. My dissertation focused on continuing education. I was at the point when I needed data, so I looked to LCPA to help me survey members. Although Katrina and Rita put everything on hold, LCPA connected me to the Oregon CPA Society to collect my research. Later, as things got settled in Louisiana, I was able to survey our members. I’m grateful for LCPA’s help, and it is one reason I continue to volunteer for committee work. Why should CPAs consider a full-time or part-time career in education? With a CPA and MBA, you are qualified to teach, and many schools are looking for adjuncts. Realize that pursuing a PhD is more about learning to research and write articles, not learning additional accounting concepts. The hardest part of teaching accounting to me is realizing that not all students see the value of it at the time they are taking classes. Later, if you are lucky, you will hear from students who thank you for pushing them — and that makes it all worth it! v



7


A PhD for me? Really? By Steve Matzke

©2016, AICPA. Reprinted with permission of the American Institute of CPAs. The following content originally appeared on AICPA.org and ThisWayToCPA.com.

Still don’t know what you want to be when you grow up? Based on the number of emails and phone calls I receive, you are not alone. Whether your accounting career is just getting started or you’ve been at it for several years, there may be a little voice in the back of your mind telling you there is something more out there. You may even be contemplating returning to school to pursue a career as an accounting faculty member. That idea isn’t crazy — in fact, it’s an excellent career move. There’s a serious shortage of accounting faculty right now. Faculty retirements are on the uptick (the average age of a tenured accounting faculty member in the United States is 60), enrollment in accounting programs is increasing, and demand for accounting graduates is at an all-time high. Initiatives such as the Accounting Doctoral Scholars Program have been created to address the shortage, but the problem persists. The reality is that if you are a CPA with recent practical experience and a love for the profession, the academic accounting community is eager to embrace your talents. These qualifications are the beginnings of a solid application to a doctoral program. With a few more additions (e.g., a strong GMAT score, meaningful recommendations, etc.), you could be golden. Now may be as good a time as ever to take a step back, rethink your future, and seize this opportunity.

Here are some things to consider in assessing whether to go back to school to earn a doctorate: • A PhD is a research degree. If teaching is the only side of the faculty equation that interests you, you may want to pursue a different avenue to the classroom. For instance, many universities seek lecturers and adjunct faculty to meet classroom demand. Seek an opportunity to meet with college and university accounting program administrators to investigate potential teaching opportunities. • What disciplinary area of accounting interests you? Tax? Audit? Managerial accounting? Accounting information systems? Financial accounting? Since different programs have different areas of expertise, making this decision early will help you determine which programs to apply to. • Doctoral programs usually take four to five years to complete. Can you commit this time? • You won’t necessarily have to live on ramen noodles again. Many universities offer fellowships and assistantships to help offset the costs of a doctoral education. Now is a great time to consider pursuing a Ph.D. in accounting. A career in academia may be right around the corner for you. v

PhD vs DBA The primary difference between a PhD and a DBA is the research component of PhD programs. While a DBA and professional experience may be sufficient to teach accounting, the larger research universities prefer their professors to have a PhD. The research produced by faculty members helps to shape the future of the accounting profession and the publication of research in top academic accounting journals is a primary goal of many PhDs. The type of research, research interests, and doctoral program culture vary from program-to-program so you need to do your homework before deciding on which programs to apply to. It’s also important to keep in mind that most universities prefer to hire professors with PhDs from AACSB accredited, non-profit universities. The cost to get a PhD or a DBA varies from program-to-program. Financing these advanced degrees is significantly different than undergraduate and master’s degrees so make sure you look into this before selecting your top schools. Many universities will remit tuition for doctoral students and they may offer graduate assistantships and stipends to help defer costs. About the Author Steve Matzke is the director–Faculty & University Initiatives at the AICPA. Contact Steve at smatzke@ aicpa.org.



9

Real-world experience. Really rewarding. Adjunct accounting professors are in high demand at universities throughout Louisiana. Students appreciate learning from real-world experiences — and it better prepares them for success in the workplace. Answer the call to educate our future CPAs, and explore the possibilities of an adjunct teaching position near you. Contact your local university or Lisa Richardson at 504.904.1139, [email protected]

e t h the ce be of ren 6 to s o r n f e 0 1 d 2 o u pon x Co 1 6 , r S Ta 5P d l a 1 Go sian b e r i m u Lo e c e D

WHAT’S BETTER THAN COVERAGE AGAINST CYBER ATTACKS AND DATA BREACHES? KNOWING HOW TO MINIMIZE THE RISKS. Your clients trust you to keep their confidential data safe. At CAMICO®, we know the risks because we’re CPAs ourselves. That’s why we introduced CyberCPASM as part of our CPA Professional Liability Insurance coverage. You’re not only protected in the event of an attack or breach, you also have access to risk management tools and resources to help minimize the risks. Including breach response services such as client notification, credit monitoring and identity theft assistance. Protecting CPAs—that’s been the CAMICO tradition for 30 years.

What every CPA needs to know about cyber security. How to safeguard information, increase awareness of cyber risk, and protect your clients. www.camico.com/cyber-cpa Accountants Professional Liability Insurance may be underwritten by CAMICO Mutual Insurance Company or through CAMICO Insurance Services by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. ©CAMICO Services, Inc., dba CAMICO Insurance Services. All Rights Reserved.

10

CAMICO representative: Tel: 225.295.2995 [email protected] www.alexsand.com

Lagniappe Content is copyright protected and provided for personal use only - not for reproduction or retransmission. For reprints please contact the Publisher.

October 2016

LCPA Members With an Adjunct Advantage Discover what sparked the interest of these LCPA members to serve as adjunct accounting professors and what they’ve gained professionally and personally as they help prepare our future CPAs.

Paul K. L. Andoh Sr. Bruno & Tervalon LLP CPAs

Letti Lowe-Ardoin Hannis T. Bourgeois, LLP

Holly Sharp

LaPorte CPAs & Business Advisors

Ted Stacey

Bourgeois Bennett LLC

Adjunct at University of Phoenix Courses: Accounting, Finance, Economics, Marketing, Management

Adjunct at LSU Courses: Accounting Fundamentals and Income Tax I (Individual)

Adjunct at Tulane University A.B. Freeman School of Business Course: Taxation for Individuals

Adjunct at University of New Orleans Course: Corporate Taxation at the Graduate Level

My inspiration to teach started with my mother who started her professional career as a school teacher. In 1980, I began my career in public accounting and saw the need to enhance my knowledge in specific areas in accounting. I soon found myself teaching at a local junior college. Over the years, I have found the desire to not only enhance my knowledge, but to network with students aspiring to achieve their academic goals. The shared knowledge and experiences that I bring as a practitioner creates an awesome learning environment. The real-world discussions and application of accounting, finance and economic concepts serve to create a level of engagement necessary for a continued promotion of the accounting profession. Over my 30+ years as an adjunct, I have come to appreciate the essence of a full commitment to the academic process. Students look for the sincerity in your delivery and assistance, and as graduates they express the lessons learned through shared experiences and application. Personally, I have become a better person through the enhancement of traits that include the exercise of patience, caring, understanding challenges, willingness to help others seeking to be successful. I appreciate the occasional call from students who take the time to let me know that I’ve made a difference in their life. Professionally, I continue to enhance my professional capacity through the learning environment created to include shared experiences. v

I’ve been serving as an adjunct for more than 20 years. It was my father, Herman “Monday” Lowe an adjunct professor himself, who inspired me to teach. I started teaching when I was completing my Master of Accounting at LSU. I’ve learned that over the years each generation has their own way of learning and to help my students do the very best they can, I’ve got to adapt to their needs. To do so, I must use as much current trends and interests of their culture as possible. Personally, I’ve gained the satisfaction of inspiring some of my students to actually change their majors and pursue a career in accounting and achieve their CPA. It is so gratifying seeing young people develop a passion for my profession that is such an important part of my life. Professionally, I feel I have gained an understanding of each generational change in our profession as I see the new generations move up into accounting and they energize me to want to grow the profession. As an adjunct professor, it’s valuable to bring experience to the classroom. The real-world problems don’t always have a “black and white” answer, they are sometimes gray. Usually the questions students work in text books, have solutions. It’s valuable that students learn from others experiences and understand the professional they have chosen. v

My grandmother’s three brothers were esteemed professors and I had great respect for their work. When I was in school, I admired the professors who showed interest in the students and made the subject matter interesting. I’ve been teaching now for 17 years, and I’m grateful to have the opportunity to do the same for my students. Working individually with students is so important. If someone is performing poorly, I email them to meet with me to discuss. Once they realize I am interested in their performance improving, they tend to work harder and keep me apprised of their efforts and progress. Email makes it easy to keep in touch and the students don’t hesitate to email for help with particular problems and their overall grade. Mentoring students is the most fulfilling aspect of teaching. Several former students are currently or have been employed at my firm and other former students are professional colleagues. It is always fun for someone to come up and tell me that I taught them at Tulane. Students enjoy hearing real-world stories that help them understand the practical aspects of what they are studying. Teaching is very fulfilling and keeps you current in your field. You will make a difference in the life of at least one of your students! v

This is my first semester as an adjunct professor. I actually considered it as a profession and, after graduate school, enrolled in the University of Texas PhD Program for a year and a half. Later, I considered it as something to do after retirement. In any event, UNO called and here I am. In the process of teaching I had to learn corporate tax all over again! My firm deals with Subchapter S corporations far more than C corporations, so I was a little rusty in some areas. The textbook I am using doesn’t have teaching materials, so I have to develop my class lessons myself. Second, I am still learning how to “educate” the students, how to communicate to them without overloading them. In this regard, they are teaching me more than I am teaching them! With all the speaking I have done, I am actually gaining more confidence. I want to educate my students that a tax practice goes well beyond preparing returns and following rules and can be very interesting. Professionally, one of the reasons I speak is to stay on top of developments. Teaching pushes me to do this also. As CPAs we all have a role in helping to educate our future CPAs: support your local colleges and universities, participate in college networking and mentoring programs, and hire interns. And why not consider a teaching position — you learn a lot and get a lot out of it, too. v



11

UL Lafayette’s MS Accounting Program Turns Two In fall 2014, the University of Louisiana at Lafayette’s B.I. Moody III College of Business Administration launched a master’s in accounting program. Graduates of UL Lafayette’s MS in Accounting program receive not only a graduate degree, but also the additional 30 hours now needed to obtain a CPA license in Louisiana. The program gives undergraduate accounting students an option regarding graduate accounting education. Prior to UL Lafayette offering an MS in Accounting degree, students who wished to obtain this degree had to go to LSU or farther away. Our MS in Accounting program is designed to be completed in approximately one year by a full-time student. However, the program is flexible enough to allow fall, spring and summer entrants on either a full or part-time basis. Many courses will be offered in the evening, allowing students to work while completing the program. Importantly, the program is both convenient and affordable. The curriculum provides accounting masters graduates with in-depth knowledge of auditing, ethics, income tax, and financial accounting. The Master of Science in Accounting program offers advanced preparation for careers in public accounting, industry, government, and consulting. Enrollment in the MS program is growing steadily as more accounting students are opting for the specialized graduate program in accounting rather than the more general MBA degree. Our MS in Accounting classes are kept to approximately ten students per section to optimize the learning experience of each student and to provide a more personal touch to graduate education.

By Dr. Suzanne P. Ward

The three students admitted to the program in Fall 2014 completed their coursework and graduated in Fall 2015. Applications for admission to the program are staying steady with the majority of those who apply being accepted. As with any new degree program, there are always changes occurring to improve the program. We are in the process of reviewing the accounting course offerings to ensure that we are focusing on skills and knowledge that our MS graduates need in the professional world. We are incorporating additional coursework in information technology and financial reporting/analysis. Furthermore, with the recent changes to Louisiana law regarding the CPA exam, we are exploring adding a CPA review course to our program to encourage students in the program to sit for the exam successfully while completing their graduate degree.

v About the Author Dr. Suzanne P. Ward is the Head, Department of Accounting at University of Louisiana at Lafayette.

ULM’s First-Time Exam Pass Rate Earns A+ By Dr. Michelle McEacharn, CPA, CIA, CGMA

The University of Louisiana Monroe Accounting program earned the ranking of no. 28 for first-time passage rate on the CPA exam out of 266 medium-sized university programs across the US. The ranking, published by the National Association of State Boards of Accountancy (NASBA), shows that ULM graduates taking the CPA exam during 2015 had a 65.8% passage rate, compared to the overall national passage rate of 48.4%. We’re proud that ULM is the only university in Louisiana to be listed in the rankings of the top 40 institutions among large, medium, and small institutions as reported by NASBA, but first and foremost, the success rate on the CPA exam by ULM graduates is attributable to the graduates themselves. Our students, who go on to become our graduates, are hard-working, dedicated, and committed to the accounting profession, and they truly want to be a part of this profession and make a positive contribution to it. We are so fortunate to have the opportunity to work with the students and graduates. For us as faculty, it makes our job so much fun. Secondly, the faculty at ULM are some of the most caring people I have ever met. They have a true appreciation for the student’s ability and potential, and each faculty member works incredibly hard to give our students the knowledge and skills they need to be successful, whether it is on the CPA exam, in the profession, or in life. Without doubt, the foundational knowledge of accounting is the key to preparation. Students should focus as much effort as

12

possible into a true, in-depth understanding of journal entries, financial statement relationships, account types, and the principles and concepts that drive accounting. That kind of understanding will help students think through complex accounting problems to get to solutions, regardless of what the problem is. To attract future CPAs to the profession, we need to make sure everyone understands how diverse the opportunities are in the field of accounting. There are so many ‘accountants’ who don’t really ‘do’ accounting. The opportunities and possibilities are endless. Making sure future CPAs are aware of those opportunities and possibilities is the key to a stronger profession in the future. v About the Author Dr. Michelle McEacharn, CPA, CIA, CGMA is the Director for the University of Louisiana at Monroe’s School of Accounting, Financial and Information Services, and Professor of Accounting


October 2016

Campus Ambassadors: Expanding Our CPA Footprint LCPA is pleased to introduce our newest Campus Ambassadors who work to increase LCPA’s presence at Louisiana colleges and universities. Ambassadors recruit new student members, promote our LCPA-AICPA joint student membership to accounting majors, and advocate the benefits of becoming a CPA. LCPA continues to grow our program with a firm goal of having a Campus Ambassador at every 4-year college and university with an accounting program. Interested in learning more about becoming a Campus Ambassador? Contact Shannon Kelly at 504.904.1129 or [email protected].

Caroline Fruge LSU Your dream job growing up? I always thought I wanted to do something with medicine like everyone else in my family. I quickly changed my mind after I took my first few biology tests in college. Animal you’d like to be? A dog! They always seem happy. Your best quality in the workplace? I am very efficient about getting things done correctly. I know putting in the more effort the first time you do something saves time in the long run. Favorite class this semester? I really loved my Intermediate II class because financial accounting makes sense to me which makes the class way more enjoyable. I also have quite a few friends in that class which I’m always happy to see. Item you can’t live without? My iPhone, I always feel disconnected when I don’t use it for a few hours. How do you relieve stress? Running definitely helps me feel better when I’m feeling stressed out.

Madelyn Ledoux Southeastern University Your dream job growing up? Pretty much everything! I went from wanting to be a vet, to a hair stylist, to a deep sea fisherman. Animal you’d like to be? Definitely an ostrich, because they lead lives of happy oblivion, ignoring the bad and focusing on the good. Your unique quirky habit? I sing what I’m doing when I’m by myself. I don’t like the quiet, so if there’s no one else around, I just make up songs about what’s happening around me and sing them to myself. Your best quality in the workplace? Professionalism, I’ve been told. When I’m in the workplace I keep in mind that everything I say and do reflects on the firm, and I present myself accordingly. What was your favorite class this semester? Audit; it’s one of those rare classes where the entire class gets involved in class discussions. Item you can’t live without? Is it too cliché to say coffee?

Paige Nevels University of LA Monroe

Annabelle Scully LSU

Your dream job growing up? My dream job was having the same job as my dad which is an embalmer.

Your dream job growing up? My dream job growing up was to be an Interior Designer and Artist like my mom.

Animal you’d like to be? I would want to be a bear so I can catch up on sleep during the winter.

Animal you’d like to be? I’d probably be a giraffe because I’m pretty short and would love to see the world from a higher perspective.

Your unique quirky habit? I have to have everything to match especially clothes but the same goes for decorations and how items are organized. Your best quality in the workplace? I am dependable and can be counted on to get the work done. Favorite class this semester? My favorite class this semester is Technology for Accountants. What item could you not live without? Definitely a toothbrush. One important skill everyone should have? Time management helps you handle all your everyday tasks and makes life a little easier. How do you relieve stress? Most common way I relieve stress is by talking with my mom or my friends about what is stressing me out with.

Your unique quirky habit? I’m obsessed with my planner. Every year I buy a personalized planner that is super colorful and it genuinely excites me to put all of my important dates in it. I color code it by personal dates, school dates, and sorority dates. Your best quality in the workplace? I am extremely determined to complete my work. I never want to leave the office if my work for the day is not completed; I will always stay late and I will always help others with their work as well. Favorite class this semester? I’ve really been enjoying my Business Law class because it is the first Law class I’ve taken amidst all of my accounting courses, and it’s a nice change. Item you can’t live without? My planner!



13

Proposed §2704 Regulations

By Vanessa Brown Claiborne, CPA/ABV, ASA, AEP®, CEPA and Riley J. Busenlener, CPA/ABV, ASA, AEP®, JD The following article was submitted in early October and will be updated following the public hearings. On August 2, 2016, the Internal Revenue Service released proposed regulations regarding 26 U.S. Code Chapter 14, section 2704, which if enacted, may have broad implications for gift and estate taxes in the future. Chapter 14 of the Internal Revenue Code encompasses sections 2701 through 2704. Passed in 1990 with the intent of preventing abuses of the tax system, it covers transfer restrictions in partnerships and prevents certain buy-sell agreements, options, and other restrictions from altering the value of an equity interest in a transfer. CFR 25.2704-1 allows for gifts to be made at a discounted value and for the remaining equity interest in the estate to be valued at a discount upon death. For example, Boudreaux owns 100% of XYZ. XYZ’s charter requires a 75% vote to liquidate. Boudreaux gives each of his two children 35% of XYZ. Each gift is a nonmarketable, minority interest, and Boudreaux’s remaining 30% is also a nonmarketable, minority interest. Each interest’s value is discounted from the full proportionate value of the entire entity, and the controlling value of the equity is never taxed.

Are Pesky IRS Notices to Your Clients Bogging Your Practice Down?

www.brysonlawfirm.com 14

The proposed regulations make several changes to the existing regulations. As these are proposed regulations, open to public comments, ambiguities and questions remain. The proposed regulations would make the following changes. • The regulations are written broadly to ensure all business entities, not just partnerships, are included. • Limitations on transferred interest that reduce liquidation proceeds to less than “minimum value” are not a basis for valuation discounts ° “Minimum value” is the fair market value of assets less liabilities; however, ambiguities in the definition remain but it appears to incorporate the value of intangible assets and/or cash flow. • Restrictions (e.g. voting ability) are ignored for transfers to heirs who then become less than full equity holders (e.g. assignees). • Only mandatory state laws, which cannot be waived or altered by the business charter, will be considered as a limitation of an ownership interest. If the charter does not state a limitation greater than the default state law, the value of the business interest cannot be discounted

Our firm Let us handle Our lawis soley dedicated IRS, state, firm is to tax solutions. and local tax solely resolution dedicated issues for to tax your clients. resolution.

✦

Your referral receives a free initial consultation.

No hourly billing. We quote flat fees that include any/all costs for the services purchased.

8888 Jefferson Hwy, Suite 2, Baton Rouge 225.223.6714


✦ October 2016

simply because the default law exists. (e.g. majority consent required to withdraw from the entity) These types of laws are uncommon.

° Payment is not in the form of a note, with certain exceptions

• If the transferor’s family had the ability to create a put option, then any transfer of the equity interest shall be valued as if it carried a put option to the entity with six months’ notice. The intent appears to be to eliminate or reduce the lack of marketability discount. It is unclear if the “minimum value” is at the date of the put or the date of payment. • Limitations on transferred interest that defer payment of liquidation proceeds for more than six months or restrict the method of payment of liquidation proceeds are not a basis for valuation discounts. • Any transfers within three years of the transferor’s death shall be taxed without regard to the lack of control of the interest transferred. When this would become effective is uncertain: it may apply to transfers made three years before the regulations are finalized or only to transfers made after the regulations are finalized. • When a nonfamily member is included as an owner of the business, to avoid being classified as a “family controlled” business, transfers between family members must pass a test before any discount may be applied to the value of their interest. The nonfamily member must: ° Have been an owner for more than three years; ° Own more than 10% of the value of all equity interests; ° Must with the other nonfamily members own less than 20% of all equity interests; or ° The non-family member has a put option to receive the “minimum value” for their ownership on six months’ notice or less. • The proposed regulations provide a safe harbor for limitations that may allow for valuation discounts. Such limitations must be “commercially reasonable restrictions” which are defined as follows: ° Every owner has an enforceable put right to the entity or other owners ° Payment must be made within six months of the exercise of the put, and

Stay informed of your client’s case every step of the way.

Retired IRS collection personnel and attorneys highly trained in negotiation ready to help your clients.

Under these proposed regulations, it appears that should Boudreaux make the same gifts to his children as in the example above, each of the gifts of 35% would be taxed at a value of 35% of the total value of the equity of XYZ if Boudreaux died within three years of making the gift. Uncertainties prevail with regard to these proposed regulations, ranging from definitions and treatment of certain language to the legality of making broad changes to settled law without the involvement of Congress. While the proposed regulations are only the first draft, if their intent remains in final regulations, it could dramatically affect the valuations of transfers of business interests among family members. The public hearing on these proposed regulations is scheduled for December 1, 2016. Regulations become effective on the date the final regulations are published. If history is any indication, final regulations may not be published until the middle of 2017. Recent comments by the Treasury indicate that the proposed regulations are not intended to change the law. If that is indeed the case, a great deal of clarification needs to happen before the regulations become final. v

About the Authors Vanessa Brown Claiborne, CPA, ASA, ABV is president and CEO, of Chaffe & Associates, Inc. where she specializes in business valuations primarily for estate and gift taxes and Employee Stock Ownership Plans. Riley J. Busenlener, CPA/ABV, ASA, AEP, JD is a Vice President with Chaffe & Associates. His duties include the performance of business research and valuations of privately held partnership, limited liability company, and corporate ownership interests.

Added benefit of attorneyclient privilege.

Angie and Cary Bryson

515 W. Convent Street, Lafayette 337.233.4210

✦

7591 Fern Avenue, Suite 1702, Shreveport 318.673.8333



15

Postlethwaite & Netterville (P&N) is a top 100 U.S. public accounting and business advisory firm based in Louisiana. We are highly focused on providing top quality service to clients as well as creating a positive professional environment for our team. But don’t just take our word for it. Here’s what our employees have to say about working for P&N: “P&N cares about its employees and truly wants them to be successful in all that they do at P&N and their career.” “P&N provides a great atmosphere and environment where we’re all challenged to continue learning and growing in our career .”

APPLY ONLINE!

FOR MORE DETAILS, PLEASE VISIT WWW.PNCPA.COM/CAREERS.ASP P&N offers a very competitive compensation plan and an excellent employee benefit package. P&N is an equal opportunity employer.

N E E D: BUSINESS LOAN OP TIONS

S O L U T I O N: J AY N O E L , C H I E F L E N D I N G O F F I C E R

campusfederal.org

16

888.769.8841


October 2016

Time for a Career Path Discussion With Your Team? Do you spend enough time talking to your staff about their career paths? Probably not, according to a recent survey from global staffing firm Robert Half, which found many employees want to spend more time discussing their future. Of the 1,200 accounting and finance professionals polled, 93 percent said they would like to talk about their career path on a regular basis, yet 40 percent said they never have this conversation with their managers.

How to talk about a career path If you’re among the many managers who have never had a career path discussion with employees, or if you do so irregularly, here are some tips:

The benefits of career path direction Career planning should be a vital part of any staff retention strategy. Employees are more likely to stay at a company if they feel there is a long-term plan in place for their professional future. Otherwise, they’re liable to take matters into their own hands and look for a job elsewhere. As a manager, touch base with your staff on a regular basis to ensure they’re satisfied with their position and career path. Frequency of career path discussions Many employers will include career progression as part of an annual review. This may not be enough, though: 48 percent of respondents in the survey said they would like to discuss their career path quarterly or even more frequently. So how often should you have a career path talk with staff? There’s no one-sizefits-all schedule, but the answer may be as often as they want to discuss it.

• Uncover goals. Some staff members, especially those at the beginning of their professional journey, need guidance in turning their goals into a tangible career plan. As a manager, ask questions to discover what really motivates them such as: which type of work they are drawn to, if they would be interested in supervisory roles in the future and what weaknesses are holding them back. Work with your employees to define a career path that leads to clear, attainable goals.

not — be available. For example, if the company won’t be able to offer reimbursement for an MBA, or if there are no senior-level vacancies expected in the next five years, be up front about it. So as to not discourage ambitious accounting professionals, talk about the opportunities you anticipate will become available. • Mix formal and informal chats. Even if you and your staff discuss their formal career plan only once a year during performance review time, you can have casual talks more often. Go out for coffee and ask how it’s going and whether they feel they’re on track to meet their goals. Take the time to show you’re interested in their career progression.

• Help them along the way. When you outline career path objectives, you undertake partial responsibility for helping employees achieve those goals. This means mentorships, training, on-the-job experience and perhaps another degree or certification. If they’re on a management track, professional development can help staff members acquire the leadership skills and general business acumen they’ll need later in their career.

You should never experience turnover due to the lack of career planning. With the cost and time associated with recruiting new finance professionals, as well as the even greater toll of losing top talent, it’s in your best interest to prioritize career path discussions. v

• Be realistic about opportunities. As with all plans or promises, you shouldn’t make them unless you think you can deliver. It’s best to be transparent and open about the opportunities that will — and will

Accountemps, a Robert Half company, is the world’s first and largest specialized staffing firm for temporary accounting, finance and bookkeeping professionals. Accountemps has more than 330 locations worldwide. More resources, including online job search services and the Accountemps blog, can be found at accountemps.com.

15,000 cost segregation studies

We work with CPAs to help their clients claim the accelerated depreciation available through cost segregation. It starts with an IRS-defined, engineering-based cost segregation study. We are the industry experts in the application of the repair regulations. Call us for a repair regulation review for your clients, or an informative cost-segregation update at your office.

strong

Our next one could save your client significant tax dollars.

(225) 291- 0046 7904 Wrenwood Blvd., Suite A, Baton Rouge

Mark Lumpkin

[email protected]

Tanya Oubre, CPA

[email protected]



17

One Solution for Your Clients — and Your Firm ®

By referring Paychex Flex , your clients will have one integrated platform for recruiting/onboarding, payroll, HR, benefits, time, and retirement. Paychex is proud to be an affinity partner to the LCPA.

Learn More by Calling 504-368-4455 or Online at paychex.com/goflex

ATTENTION INVESTORS “IRS §1031 allows investors in real estate or other tangible assets to effect a tax deferred exchange and defer the capital gain. “To do so you should engage a ‘qualified intermediary’ such as Title Exchange Company to advise and assist your client with the transaction prior to the sale.

Bill Hyde

General Counsel

“The tax regulations allow the taxpayer to shop for replacement property for a period of 45 days and close within 180 days.

Bill Hyde, General Counsel

Patrick Cusick

Attorney at Law

111 Founders Drive Suite 600 Baton Rouge, LA 70810 225.752.1031

Serving the accounting profession and their clients for over 25 years. 18


th Sa e ve da te !

“Investments in real estate, airplanes, mineral interests, barges, equipment, and vehicles qualify for this preferred tax treatment—perhaps the last tax shelter available to investors.”

October 2016

CPE Around the State

2016 Tax Symposium December 2 • Shreveport Feeling left in the dark about new tax laws? We’re bringing some of our brightest presenters to north Louisiana to shed a little light on the biggest changes at the state and federal levels. The Tax Symposium will clear up common confusions that can cast a shadow over your day-today work so you’re better prepared for the 2017 busy season. Plus, we’ll illuminate you with the tools to stay compliant and effectively work with the IRS to resolve issues.

2016 Oil & Gas Conference December 8-9 • Lafayette Create your blueprint for success.

Gold Sponsor

• What Every CPA Needs to Know About the New IRS Partnership Audit Rules • Federal Tax Update • Louisiana State and Local Tax Developments • Cost Segregation Update • Navigating Through IRS Collection Notices

Register online at lcpa.org/ts16

2016 Louisiana Tax Conference December 15-16 • New Orleans

Multiple Louisiana legislative sessions in 2016 generated quite a bit of turbulence for CPAs. Non-stop state and federal tax changes have caused major delays and frequent Mayday calls. It’s time to ramp up for your final approach before tax season and take the controls with confidence. Our first-class crew of knowledgeable speakers will work at full throttle to get you up to date and on course for the busy months ahead. Make your reservation early and get ready to take your seat. Roger that. Gold Sponsor

The ups and downs of the oil industry have taken a toll on related Louisiana businesses, leaving many uncertain about their strategy going forward. This conference is designed by CPAs for CPAs to help you create a blueprint for success. Qualified speakers — our architects of information — will survey the current landscape, address the biggest issues in the industry, and provide a guide for making decisions important to your overall operation. From infrastructure to new laws and standards, we’ll drill down on topics that impact you the most. • • • • • •

Topics include:

What Does Recovery Look Like? Labor and Employment Law Update Cyber Liability & Cyber Risk Natural Gas Pipeline Infrastructure Sales and Use Tax Update Oil in Turmoil: Energy and the Global Economy

Register online at lcpa.org/ogc16

Topics include: • Individual Tax Update • 10 Things CPAs Should Know About Tax Resolution • New Sec. 2704 Regulations: Death of the Family Limited Partnership? • Retirement Planning for Self Employed Clients • New Partnership Audit Rules • Cost Segregation Update • How to Make the 2017 Filing Season Better • Louisiana State and Local Tax Developments • The Heimlich for Taxpayers’ Past Misdeeds

Register online at lcpa.org/ltc16



19


Classifieds Job Opportunities

Chief Financial Officer

Fairfield Property Management is currently seeking a Senior Accountant to join our team at our home office in Shreveport, Louisiana. Being a Senior Accountant is a vital leadership role in our Accounting department.

Successful long-term care management company in Alexandria, Louisiana seeks replacement for retiring CFO. Healthcare financial experience a plus, but not required as current CFO will train his successor. Competitive salary and benefit package, commensurate with experience. If you meet the requirements below, please forward your CONFIDENTIAL resume and letter of interest to the address below.

Essential functions of the Sr. Accountant position include but are not limited to: • Prepares monthly bank reconciliations. • Assists with preparation and distribution of annual budgets. • Reviewing general ledger for unusual variances, preparing reclassifications, accruals and making necessary journal entries to ensure financial statements are accurate. • Interfaces and supports the operations department with timely financial information. • Assist with gathering pertinent documents for annual audits. • Assists with inquiries from auditors, investors, or other third parties as assigned, including running reports and answering questions as needed. • Provides guidance to accounting staff by training, answering questions, and providing assistance with issues and difficult situations. • Special projects as assigned. A Bachelor’s degree in Accounting and a minimum of three years general ledger/reporting experience is required. Five to seven years of related experience is preferred. A Master’s and/or CPA is a huge plus. Please apply at www.fairfieldmanagement.com/careers or email your resume directly to [email protected]. _______________________ Person Huff CPA Group, LLC, a Metairie CPA firm with offices also in Chalmette and Slidell seeking Tax Manager for Metairie office. Person required to have 7+ years current public accounting experience in tax. Strong knowledge of tax prep and review is also required. Must have a command of authoritative federal & state taxation including business and individual income taxes and estate & gift taxes. Candidates should have the ability to manage multiple projects with consistency & accuracy; must have a high level of professionalism and have the ability to work in a team environment. Strong oral and written communications skills. CPA certification is required. Master of Science in Taxation or similar area preferred, but not required. Many benefits to go along with salary. Looking for more info, contact [email protected]. _______________________ Metairie CPA Firm Seeks F/T or P/T tax preparer/reviewer with 4+ years experience. Email resume to [email protected]

Duties and Responsibilities (Partial listing): • Oversee accounting/finance functions for 38 skilled nursing facilities, including oversight of home office activities, operational accounting, cost reports, tax returns and interface with all departments. • Report on and drive improvement in key metrics to improve efficiency and performance. Includes on-site assessment of systems, processes, and results, where warranted. • Participate in assessment and development of plans to improve operational performance (i.e. therapy management, increasing collections and reducing uncollectible accounts, etc.). • Handle financial/regulatory related matters (CON applications, regulatory research, coordinate activities with regulatory counsel and other advisors, including Medicare, all States Medicaid, banking and finance relations, etc.) • Assist in vendor negotiation and management, including broad scope contracts (therapy, pharmacy, other supplies, leases, banking arrangements, etc.) • Analysis of consolidated company financial operations, including multiple divisions, holding companies, insurance plans, management operations, and other allied businesses. • Assist senior management with modeling of proposed operations and business ventures. • Oversee/organize financial and quasifinancial functions to promote efficiency and effectiveness. • Resolve wide variety of business issues related to general business operations. Position Requirements: • Bachelor’s Degree in Business or Finance required • Certified Public Accountant desired • Master’s Degree preferred (MBA, Finance, or Health Administration) • Minimum of 10 years of financial leadership and related experience • High degree of initiative, judgment, energy, discretion, and decision making ability • Excellent organizational skills, including the ability to prioritize office workload, administer, and resolve problems Human Resources Director: CFO Position Post Office Box 12187 Alexandria, Louisiana 71315

Lake Charles firm has excellent growth opportunities for tax and audit professionals at all levels of expertise. Competitive salary, incentive bonus, and full benefits including medical, retirement plan and PTO. Ideal candidates will be highly motivated and have strong communication skills. CPA license required or met 150 hour requirement for CPA Exam. Submit resume to [email protected]. ______________________

In business for over 90 years, one of Louisiana’s largest and most respected Certified Public Accounting and Consulting firms is seeking talented, high-performing accounting professionals to join its Baton Rouge office! MULTIPLE POSITION OPENINGS: Audit Staff, Seniors, & Supervisors (Baton Rouge) Ideal candidates will have 0-2 years (Entry Level) or 3-6 years (Senior/Supervisor) of external audit experience in a public accounting firm. Accounting Degree from a four year college or university required with 150 hours requirement met for CPA Exam. CPA license is strongly preferred for higher level candidates. Construction industry experience is a plus! General Accountant (Baton Rouge) Ideal candidate will have 2-3 years experience in general accounting, such as, maintaining a general ledger, preparing financial reports and processing payroll. Experience with Construction Accounting a plus! Strong organizational skills and proficiency with Quickbooks preferred. Degree in related field desired but significant experience will be considered in lieu of degree. Competitive pay and benefits packages offered! EOE How to apply: Email resumes to [email protected] _______________________ Sharp & Company, CPAs, a full service CPA firm based in the New Orleans area for 30 years, has excellent growth opportunities for tax and audit professionals at all levels of expertise. Competitive salary, incentive bonus, and full benefits including medical, retirement plan, PTO and flexible work schedule. Submit resume to [email protected]. _______________________ Growing Met/Cov LA CPA firm seeks staff and senior acct. Competitive salary. Company pays 100% low deductible health insurance. 4 wks/yr PTO. Send resume to [email protected].

(Classifieds continued page 23)



21

It’s Time to Get Paid You’ve earned it. Invoice Payment Payment Detail

EST

75%

Thank you for your prompt payment!

55% 35% 2010

$500.00 Invoice Number

47%

2013

Amount to Pay*

Invoice Number

2016

2019

BY 2019, OVER 75% OF BILLS WILL BE PAID ONLINE.

Cardholder Information Name

Name Card Number

Card Number Month

Simple online payments

Year

No swipe required

Pay Invoice

No equipment needed

Professionally accept all major cards. You work hard for your clients – why not present them with a simple and secure way to pay for your services? CPACharge provides your firm with a convenient, affordable solution for managing credit card and ACH payments, including the option to pass on the cost of processing fees. Getting paid for your work should be easy – you’ve earned it!

CPACharge.com | 844.352.4705 Content is copyright protected and provided for personal use only - not for reproduction or retransmission. CPACharge isplease a registered ISO/MSP the of BMO Harris Bank, N.A., Chicago, IL For reprints contact Publisher.

(Classifieds continued from page 21)

The Gillon Group, PLLC, a full service Natchez, Mississippi firm, has an immediate opening for a partner track individual in our practice. The ideal candidate will be eligible to sit for the certified public accountant exam and possess strong knowledge of accounting principles and demonstrate excellent leadership and communication skills. Salary is commensurate with experience. We offer a full range of benefits including medical, dental, and 401K. Please submit your resume to [email protected]. _______________________ Looking for a career and not a job? Bourgeois Bennett is seeking experienced audit personnel for our Houma office. Audit Manager will have 8+ years of public accounting experience. CPA required. Ideal candidates will be highly motivated and have strong communication skills to assist in client management and practice development activities. Governmental experience, a plus. Bourgeois Bennett offers excellent benefits including flexible work hours, generous vacation time, performance bonuses, professional development training, no significant travel, paid medical plans, banked time off and more! If you are qualified, send your resume to [email protected]

Professional Services – Peer Review Martin L Chehotsky, CPA, CFE, CFF has over 25 years Peer Review experience. Will perform on and off site reviews. Contact Marty at P.O. Box 5914 Lake Charles, LA 70606. Phone 337.540.3200 or email to [email protected]. _______________________ System and Engagement Reviews Large local firm with wide range of experience will perform peer reviews for firms with 10 or less professionals. Contact Kenneth Pavy, John S. Dowling & Co., P.O. Box 1549, Opelousas, LA 70571, Phone 337.948.4848.

Purchase • Sale • Merger Considering Selling Your Practice? Consider all of your options. We do the work to sell your practice by finding qualified buyers that provide financial security coupled with the utmost in confidentiality. We have buyers actively seeking practices. Visit our web site at www.accountingpracticesales.com or call 877.345.7722. Accounting Practice Sales

Well established CPA firm wants to acquire practice or accounts in South Louisiana. If interested reply to [email protected] (Ref. Blind Box #1). _______________________ Growing BR CPA firm looking to acquire additional tax and accounting practice in Baton Rouge area. Please reply to alupo@lcpa. org (Ref. Blind Box #13) _______________________ Carrigee Moore Levy & Flynn LLP, with offices in Metairie and Covington is looking to acquire practices and retirement minded CPAs. If you are contemplating retirement, contact us to discuss your options with our firm. [email protected] _______________________ CPA general practice for sale in Acadiana. Good fit for capable individual, small or large firm interested acquirers. Please reply to [email protected] (Ref. Blind Box #11)

Miscellaneous ARMSTRONG’S SUPPLY CO., INC. Building a home? Renovating your existing home? For the best price and selection of light fixtures, contact LCPA member Stephen Orkus at 504.486.0094.

ARE YOUR FINANCE PROFESSIONALS SKILLED ENOUGH TO FULFILL YOUR STRATEGIC BUSINESS GOALS? Whether you integrate a qualified CGMA designation holder into your team, or empower your people through the CGMA program, you’re adding the experience to excel, to be ready, to be the difference.

®

From INSIGHT to IMPACT. The CGMA difference. Visit CGMA.org/Program to know more.



23

Wellness: Activity Tips for Fall Fitness When the seasons change and the air is cool, it’s tempting to go into fitness hibernation. Instead of waiting for the new year to set goals and re-start your fitness routine, take advantage of the changing season to create good habits for the upcoming holidays. Additionally, consistent workouts and healthy choices will keep you in good shape, physically and mentally, for the winter ahead. Here are some tips to keep you motivated:

Take advantage of the weather The fall is a great time to be outside to see the changing leaves and enjoy the crisp air. Take your family, friends, or a pet with you for a long walk in your neighborhood and if you like hiking, look for a park nearby with trails to explore. Canoe or kayak on a nearby river or lake, or play a few games of Frisbee, volleyball, or touch football on an empty beach.

Plan ahead Review your schedule and find a time that fits best for your workouts. If it’s too dark to run outside in the morning or evenings, find an alternative, like going to the gym to use a treadmill, or invest in a headlamp and reflective gear so the dark won’t prevent you from getting outside. Make sure your clothing fits with the season, too. Having multiple options that allow you to layer will keep you comfortable and more likely to get outside.

Give yourself a real reward Sometimes it’s hard to be motivated by vague goals like “losing weight” or “feeling better.” Reward yourself with a TV show or a smoothie for working out. You could also give yourself a financial reward for each week you’ve met your goals, like putting money into an account for a new bike or a vacation. Intrinsic rewards can motivate your brain and make the behavior worthwhile. Soon, you may no longer need these rewards to get moving.

Change up your routine The fall is a great time to try a new fitness class, like boxing or aerial yoga. If you’ve always wanted to learn a new skill, search for local classes and sign up! And when the weather is bad, take advantage of free online workouts so you can still be active at home. v Sources: “Fall Health Tips to Keep You Strong This Season.” Huffington Post Canada. Huffington Post, 24 Sept. 2015. Web. 11 Aug. 2016. http://www.huffingtonpost.ca/2014/09/24/fall-health-tips_n_5869108.html

Free and discounted document shredding!

Secure Shred Consoles One or two consoles for $30 total (not each) per pick up

33-50% savi ngs over compe titors!

Special LCPA member discounts on our statewide service. • Up to three free pick ups for trying monthly/bi-monthly service • A variety of consoles and containers to choose from • No extra fuel or service charges • Certificate of Destruction issued • All paper recycled

No contract required.

Absolute Document Destruction

888.737.0927 • addestruction.com • [email protected]

Be the key to someone’s future.

Make a tax-deductible donation and Support Scholarships for Accounting Students. Make a secure online contribution at

lcpa.org/DonateEducationFoundation

Call Bobby Poche about ADD’s secure, confidential service and affordable pricing.

24


October 2016

Family time or overtime. New rules around overtime laws under the Fair Labor Standards Act starting on December 1st may impact the way your business clients classify and compensate their employees. See how ADP® can help your clients make sense of wage and hour regulations, including the new overtime pay rules, so they won’t miss pizza night: adp.com/LCPA

The ADP logo and ADP are registered trademarks of ADP, LLC. ADP A more human resource. is a service mark of ADP, LLC. Copyright © 2016 ADP, LLC. ALL RIGHTS RESERVED.


PRSRT STD U.S. Postage PAID New Orleans, LA Permit No. 498

2400 Veterans Blvd., Ste. 500 Kenner, LA 70062-4739

Fastest smartest malpractice insurance. Period.

800.906.9654 GilsbarPRO.com Content is copyright protected and provided for personal use only - not for reproduction or retransmission. For reprints please contact the Publisher.