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CPA Summit & Annual Meeting in conjunction with the Tax Conference (411010)

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REGISTRATION STATUS: OPEN

Date:Thursday, November 11, 2010 - Friday, November 12, 2010
Time:8:30am - 4:30pm (Registration at 8:00am )
City:Columbia
Facility:Embassy Suites, Columbia
CPE Credit:16.00 TBD
Instructors: Mark T. Hobbs, CPA ;  Frances Kleckley ;  Erik Doerring JD ;  Rick Handel ;  Dr. Caroline D. Strobel, CPA, Ph.D., ;  David C. Sojourner ;  Jennifer Louis ;  David Aughtry ;  Greg Conderacci ;  Carlton Collins ;  Holley Ulbrich ;  H. Kyle Anderson, CPA, CMA ;  Timothy S. Doupnik Ph.D., MAS ;  Tim Quinlan ;  Heidi M. Brundage ;  Aaron Nelson ;  Thomas A. Sheaffer ;  Gwen T. Sonier ;  Michael P. Glynn ;  Gilbert Weiner ;  Paul V. Stahlin, CPA ;  William O. Higgins ;  James A. D'Allessio, Esquire
Vendor:South Carolina Association of CPAs
Course Level:L
Fee:$305 SCACPA Members, $405 Non-Members
Early Bird Fee:$280 SCACPA Members, $405 Non-Members through 10/21/2010
Firm Discount:($15)
Reciprocal Discount:($100)
Choice card coupons:4

Highlights:

 

Description:
As we celebrate the 95th anniversary of SCACPA, reflecting back is the key to looking forward. Despite the upheaval of national healthcare reform, new regulatory changes, challenges confronting the profession, and the financial pressures of the market the CPA Summit is designed to provide you with the keys to looking forward. CPAs, their businesses and their clients can unlock the door to success and overcome potential hurdles by adopting approaches that deliver on transformational ideas and business solutions. The idea is working together toward a common goal.

This year's Summit spans two days with 16 CPE credits, three tracks and 24 sessions. It also includes optional events such as the SCACPA Annual Business Meeting, New CPA Oath Ceremony, Member Reception and Awards Dinner.


Note:

To reserve your room now CLICK HERE .  Room rate of $119 expires on October 21st, 2010.

Add this event to your calendar (click Open when prompted).

Thursday, November 11, 2010
Annual Business Meeting 8:00 am-8:45 am
SCACPA Annual Business Meeting (Members only) (A01)
Time: Thursday 8:00am - 8:45am   
As a member of SCACPA attend this meeting to elect new board members, approve the 2011 SCACPA budet and hear a brief update on SCACPA's activities that benefit you and the CPA profession.
Concurrent Sessions 8:45 am-10:30 am
International Financial Reporting Standards (B01)
Time: Thursday 8:45am - 10:30am   (Credits: 2.0 AA)
This session provides an in-depth examination of some of the most economically significant international accounting topics: revenue recognition, business combinations and impairments. The last part of the session provides an update on the issues and challenges of major current IASB projects.
Economic Outlook (B02)
Time: Thursday 8:45am - 10:30am   (Credits: 2.0 TX)
Although the US economy has seemingly reached a turning point, there is still a significant amount of uncertainty about the strength of the developing recovery. This session will discuss the prospects for recovery in the near term, focusing on the difficulties facing consumers amid ongoing job losses and weak wage growth. (Approved for CFP credit 2 hours)
Technology Update (B03)
Time: Thursday 8:45am - 10:30am   (Credits: 2.0 TC)

It's a technology world - are you in it? In this technology session, J. Carlton Collins will bring you up to date on the very latest technology products and applications you need to get you job done faster, better, and more efficiently. The session will cover solutions that are most important to CPAs, including hardware, software, security, communications, internet, gadgets and devices to help your company or clients squeeze the most out of today's technology. You will receive two dozen useful tips and see live demonstrations of many of the technologies discussed. As a conclusion, Mr. Collins will share with you a list of 50 technologies which he believes that every CPA should employ to make you as productive as possible.

 
Concurrent Sessions 10:45 am-12:20 pm
Internal Controls for Smaller Entities: Practical Case Studies (C01)
Time: Thursday 10:45am - 12:20pm   (Credits: 2.0 AA)
There is simply no denying that a sufficiently designed and effectively operating system of internal controls over financial reporting is more important than ever. In this course, we will use extensive exercises and case studies to reinforce fundamental theory through "real-life" scenarios that both internal and external accounting personnel performing internal control-related activities in a wide variety of industries will find beneficial. The program qualifies toward the 24-hour Yellow Book requirement.


How to Deal with the IRS: Taxpayer Advocacy (C02)
Time: Thursday 10:45am - 12:20pm   (Credits: 2.0 TX)

Many fear the IRS more than death itself.  The IRS does wield an immense amount of power.  If your clients receive a letter in the mail and they see the IRS as the sender, they can be overwhelmed by the experience.  Attend this session and learn the procedures for getting assistance from the Taxpayer Advocate Division of the IRS - what they can do and how to ask for it.  You'll also learn what issues the National Taxpayer Advocate is working on, including why it opposes the new 1099 rules. (Approved for CFP credit 2 hours)
Green Plus, Sustainability and theTriple Bottom Line (C03)
Time: Thursday 10:45am - 12:20pm   (Credits: 2.0 OT)

Learn the key concepts of sustainability, the triple bottom line and how small and medium-sized entities (SME) are making and saving money by going green. Discuss national and global trends impacting U.S. enterprises around sustainability. Get an introduction to the Green Plus education and certification tool and walk through a how-to guide for SMEs interested in improving alignment and performance with green and sustainable standards and trends.


 
Summit Luncheon (Thursday 12:20 pm-1:20 pm
Summit Luncheon (SLH)
Time: Thursday 12:20pm - 1:20pm   
Concurrent Sessions 1:20 pm-3:00 pm
Fair Value Accounting: A Critical New Skill for All CPAs (D01)
Time: Thursday 1:20pm - 3:00pm   (Credits: 2.0 AA)
Fair value accounting has become a frequent topic of discussion for accountants, users, and government regulators during the past few years. FASB 157, Fair Value Measurements, and FSP FASB 157-4, Determining Fair Value When Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly have caused confusion, frustration, and anger among many. This program will address this new fair value reality as it applies to frequently encountered situations in financial reporting.


IRS Circular 230 and Disclosure of Uncertain Positions (D02)
Time: Thursday 1:20pm - 3:00pm   (Credits: 2.0 TX)
The heat is on tax practitioners! Regulators and lawmakers responding to irresponsible tax advice from CPAs and attorneys who were believed to be reputable have produced a steady stream of new rules and regulations regarding disclosure and responsibility for tax return information.   Many practitioners think the rules of practice may adversely affect their ability to effectively represent their client and may conflict with their obligations under professional ethics rules.   The new disclosure rules are controversial, and may conflict with tax professionals' representation of their clients' interests.   Attend this session and learn how these changes impact you, and the controversy surrounding them.  (Approved for CFP credit 2 hours)
Retaining Your Top Talent:Maintain the Desired Retun on Your Investment (D03)
Time: Thursday 1:20pm - 3:00pm   (Credits: 2.0 BM)
Success in today's market is dependent on our people because we rely on the talent to understand the rules, to apply the standards and employ the technology and to service clients.  Organizations must preserve their best performers in order to compete because there are opportunities for CPAs now and there will be more tomorrow.  This session will explain further why retention is still just as important as ever, explore best practices for building and maintaining the systems that promote retention efforts and highlight available retention resources.


Concurrent Sessions 3:20 pm-5:00 pm
Effective and Efficient Risk-Based Financial Statement Audits in Compliance with Yellow Book (E01)
Time: Thursday 3:20pm - 5:00pm   (Credits: 2.0 AA)
In recent years, the auditing standards have been strengthened in an attempt to improve the quality and effectiveness of financial statement audits. CPA firms need to act now to train audit professionals on how to effectively and efficiently perform audits that comply with relevant standards.
How to Deal with the IRS: Audits, Examinations, Appeals and the Aftermath (E02)
Time: Thursday 3:20pm - 5:00pm   (Credits: 2.0 TX)
A significant percentage of taxpaying citizens have the experience of being audited (IRS uses the term "examination") at some point during their lives, and the IRS is ramping up its audit schedule.  Knowing what to expect, how to respond, and what to do if you don't agree with the result can save time and money for you and your client!  Attend this session and hear answers to some of the most common questions about how the IRS conducts audits, and what rights and obligations taxpayers have in the course of that process.  Mr. Sheaffer will talk about what the IRS expects and requires.  Mr. Doerring will discuss how to defend your client and deal with the IRS to achieve an optimal result for your client, and will provide an overview of criminal tax considerations in connection with an audit/exam.  


Social Media and the CPA (E03)
Time: Thursday 3:20pm - 5:00pm   (Credits: 2.0 BM)
Many CPAs completely dismiss social media as just a big waste of time.  I too once thought this way, but no longer. The undeniable fact is that "who you know matters - right?". Are you well connected? Could you be better connected? Today's social media absolutely helps you establish, cultivate, and grow the list of "people you know". Through social media, you can connect directly, and even indirectly with others in a position to recommend you, use your products or services, and assist you in surprising ways. In this session you will learn how to use social media to your greatest advantage. There is no cost, it's absolutely free. In addition, we will show you how to secure your privacy so that you don't leak personal or private information out beyond your intended recipients. 500 million people can't be wrong - come learn more about this fascinating technology.


Event Registrations (Thursday)
Old Guard Reception (F01)
Time: Thursday 5:30pm - 6:30pm   
By special invitation only, CPAs who have been SCACPA members for 30 years or more will renuite with their peers in an intimate setting.
YCPAs Reception (F02)
Time: Thursday 5:30pm - 6:30pm   
Join the Young CPAs Cabinet as they celebrate their 2010 successes! This reception is designed for CPAs 35 years old or younger.
Opening Member Reception (G01)
Time: Thursday 6:30pm - 7:15pm   
Wind down after a full day of education by renewing acquantiances and make new ones.


Summit Dinner, Awards Ceremony and Passing of the Gavel (H01) $60
Time: Thursday 7:30pm - 10:00pm   
Enjoy dinner with colleagues while supporting SCACPA's awards and recognition program.
Summit Dinner Table for 8 (H02) $440
Time: Thursday 7:30pm - 10:00pm   
Summit Dinner and Awards Ceremony - $440 per table of 8


Friday, November 12, 2010
Concurrent Sessions 8:30 am-10:15 am
Auditing Real-World Frauds (J01)
Time: Friday 8:30am - 10:15am   (Credits: 2.0 AA)
Many auditors struggle with the linkage between internal control, audit design and fraud detection under SAS No. 99. This interactive course utilizes hands-on case studies based the latest guidance on the new COSO model on Internal Control Framework is geared to help participants carry out their financial statement fraud responsibilities. Auditors and corporate accounting and finance professionals will find this course relevant and timely. The course includes an overview of the auditor's responsibilities related to financial statement fraud under SAS No. 99 and clearly links these to the auditor's risk assessment process under the Risk Assessment Standards. In addition, the course includes information relevant to management's responsibility for fraud and internal controls under the COSO framework and other "best practices."
Hot Topics in Estate and Gift Tax (J02)
Time: Friday 8:30am - 10:15am   (Credits: 2.0 TX)
This presentation will focus on current developments in estate and gift taxation and the status of estate tax reform.  In addition this session will focus on innovative ideas for sophisticated estate tax reduction techniques and asset protection planning. (Approved for CFP credit 2 hours)
Performance, Productivity and Profit: Creating the Higher Energy Organization (J03)
Time: Friday 8:30am - 10:15am   (Credits: 2.0 BM)
Time management is so 20th century. You can't get any more hours in the day - but you can get more energy for yourself - and infuse your organization with it. These days, it's personal energy management that makes the difference in performance, productivity and profit. Athletes, entertainers, astronauts, trial attorneys and the military train constantly to be physically and mentally ready to perform as a peak energy team over short periods of time - a game, a show, a flight, a trial or an engagement. Yet in business, professionals attempt to perform at high levels over many weeks and months, often without much of a break. As a result, they experience performance-sapping low morale, burnout and turnover. This course will show you how to change your outlook and approach by tapping secrets and strategies from sports, science, psychology, literature and even history.
Concurrent Sessions 10:30 am-12:05 pm
SSARS Update (K01)
Time: Friday 10:30am - 12:05pm   (Credits: 2.0 AA)
Discuss recent activity of the Accounting and Review Services Committee (ARSC) including the issuance of Statement on Standards on Accounting and Review Services No. 19, Compilation and Review Engagements  with the AICPA staff liaison to the ARSC.  Also included will be a discussion of other authoritative and nonauthoritative guidance available to accountants performing compilation and review engagements.
Judicial and Administrative Highlights: Focus on Accounting Practice (K02)
Time: Friday 10:30am - 12:05pm   (Credits: 2.0 TX)
From coping with heightened standards for preparer penalties through work-product protection of work papers to salvation in the Second Circuit's Stein opinion, this last year impacts the life of tax accountants in a much bigger way than perhaps any prior year.  With an emphasis on that area, we will cover the last year like kudzu. (Approved for CFP credit 2 hours)
Five Smooth Stones: Facing Goliath and Winning (K03)
Time: Friday 10:30am - 12:05pm   (Credits: 2.0 PD)
Are you facing the challenge of a lifetime? It can be a difficult career transition, a terrific (and somewhat terrifying) business opportunity, or any major effort. Before David faced Goliath, he selected five smooth stones for his sling. This course gives you five strategies for succeeding in the face of seemingly overwhelming odds.
Concurrent Sessions 1:45 pm-3:25 pm
Board of Accountancy Update (M01)
Time: Friday 1:45pm - 3:25pm   (Credits: 2.0 AA)

The session will include the hottest topics facing the SC Board of Accountancy including the following: ethical issues facing CPAs, mandatory peer review findings, disciplinary actions of licensees, current regulatory changes under consideration for amendment, impact of International Accounting and Auditing Standards, mobility - how has it impacted the State of SC, and what licensees need to know about the Board of Accountancy.

 
Legislative Tax Update (M02)
Time: Friday 1:45pm - 3:25pm   (Credits: 2.0 TX)
This session will cover what has not happened this year: transfer tax update; 2010 legislation; the hiring incentives to restore employment; payroll forgiveness; retained worker credits; extension of the increased Section 179 limits and new foreign account reporting and compliance rules. (Approved for CFP 2 hours)
Turning Trust into Value; Business Development Boot Camp (M03)
Time: Friday 1:45pm - 3:25pm   (Credits: 2.0 MA)
Few professions can command the trust and respect of the CPA, and indeed the demand for CPA services has never been higher. At the same time, though, many CPA services are becoming commoditized and pressure on hourly rates is intense. It is also increasingly difficult to move choice business from competitors. Finally, firms and companies are finding the competition for talented employees can be more challenging than the competition for good clients. In short, successful firms must be able to translate trust into value to monetize and capitalize more successfully the benefits they offer.
CPA Exam Simulation (M04)
Time: Friday 1:45pm - 3;25pm   
Join Becker CPA Review as they simulate the CPA Exam for accounting students and CPA candidates.
Concurrent Sessions 3:40 pm-4:30 pm
Accounting & Auditing Update (N01)
Time: Friday 3:40pm - 4:30pm   (Credits: 2.0 AA)
Keep abreast of the fast-paced changes in accounting and auditing. This session will cover the most relevant pronouncements, exposure drafts and consensus reports recently issued in the accounting, auditing, compilation and review arenas.
Tax Compliance for Equity and Incentive Benefit Arrangements (N02)
Time: Friday 3:40pm - 4:30pm   (Credits: 2.0 TX)
During this session the presenter will cover the types of incentive benefits/payments such as stock and non-equity incentives (deferred compensation, different types of stock options, stock appreciation rights, employee stock purchase plans), and similar vehicles. As well as discuss in detail tax administrative, withholding and reporting requirements, and some unusual real-life issues associated with them such as death and divorce. Time permitting, the session may also address some other matters such as taxability of other types of payments such as the BP payouts for Gulf Coast business owners and employees, expense account requirements, etc. (Approved for CFP Credit 1 hour)
Health Reform and its Impact (N03)
Time: Friday 3:40pm - 4:30pm   (Credits: 2.0 BM)
Health Reform Legislation is now in place, but what does it all mean? How will it affect my company? How will my current health plan have to change? Do I have to offer my employees new coverage? Will the costs go up? Are there any changes to the spending accounts? Will access to healthcare in my plan be increased or decreased? What are the penalties for noncompliance? All of these questions and more will be covered in this session. (Approved for CFP credit 1 hour)
Event Registrations (Friday)
Managing Partners Breakfast (I01)
Time: Friday 7:15am - 8:15am   
During this breakfast managing partners of mid-size to large firms have the opportunity to hear from AICPA Chair Elect, Paul Stahlin.
New CPA Oath Ceremony and Student Recognition Luncheon (L01)
Time: Friday 12:05pm - 1:40pm   
Join SCACPA as they conduct the semi-annual New CPA Oath Ceremony and recognize college students majoring in accounting from across the state who are recipients of the 2010 education fund scholarships. In addition, AICPA President Elect, Paul Stahlin will provide a professional issues update.
Optional Services
(choose all that apply)
Electronic Materials-$25 Discount (EM1)

Go GREEN and Save GREEN!

You will receive an e-mail notification once materials are ready for downloading (approximately one week prior to the conference).
Opt Out of Conference Attendee List (OPT)

A participant list will be provided to registrants attending the event upon request. Please select this option to opt out of the listing.


 
 
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