NEW REVENUE RECOGNITION STANDARD’S IMPLEMENTATION PLAN By Kim Kushmerick, From the AICPA

The Financial Accounting Standards Board’s (FASB) new revenue recognition standard presents the most significant accounting change many veteran CPAs have seen.

The standard touches every entity (public and private, including not-for-

profit entities) that reports under U.S. GAAP and will require CPAs to reex-amine the underlying economics of large numbers of established business practic-es. The new standard applies to most transactions and contracts with customers except for leases, insurance contracts, most financial instruments and guaran-

tees (other than product or service war-ranties).

At first glance, the implementation period for Accounting Standards Update (ASU) No. 2014-09, Revenue from Con-tracts with Customers, might seem ade-quate if not generous. Public companies, for whom early adoption is not permitted, are required to adopt the standard in 2017 (for reporting periods beginning after December 15, 2016). Private companies get an additional year—starting with 2018 for their annual reports—and two more years, beginning in 2019—to start applying the standard to interim reports. Private companies may choose to adopt the standard on the public company schedule.

After further study, however, many organizations may find the implementa-tion period to be extremely aggressive and the task daunting. There are many components to be analyzed and many questions to be answered: How will the standard affect opera-

tional and performance metrics? What IT changes will be needed? How will you retrospectively adopt the

standard? If a public company chooses full retro-spective adoption, revenue and the direct effects of change in accounting principle to all contracts must be restated for 2015 and 2016 to show comparative financial statements with a cumulative adjustment as of January 1, 2015.

You are encouraged to advise clients and employers to begin developing an implementation plan as soon as possible. The AICPA has organized a major effort including industry work groups, training, and organizational tools to assist CPAs with this monumental implementation.

You can use the following key tasks based on the AICPA’s New Revenue Recognition Accounting Standard—Learning and Implementation Plan as a high-level road map to begin organizing your organization’s implementation.

Form a task force (2014-15) Don’t wait to get all of the major

players involved. The standard replaces most transaction- and industry-specific guidance with a principle-based ap-proach, making it difficult—if not impos-sible—for CPAs to estimate the imple-mentation effort required in a specific organization without first conducting a

November 2014

Official Publication of the Nebraska Society of CPAs

Out West . . . Society President Dan Vodvarka and Dan Sweetwood, Ex-ecutive Director of the Nebraska Board of Public Accountancy, met with Society members in Gering, North Platte and Kearney during a late September during a trip through central and western Nebraska. In top picture, Vodvarka meets with Society members left to right, Tamara Pierce of Scottsbluff, Brian Commins of Ogallala and Amanda Vlasin of Imperial, shortly before helping begin a CPE course at the Gering Civic Center on September 30, 2014. In the lower picture, Vodvarka meets with members in North Platte during a September 29 luncheon meeting to discuss Society issues and services. From left to right is Bob McChesney of McChesney, Martin Sagehorn, PC in North Platte and Vicki McPherron and Patricia Brunz of McPherron, Skiles & Loop, CPAs, PC in North Platte. The two Dans also met with members before an Oct. 1 course in Kearney.

Continued on Page 4

The Society is now offering online CPE by partnering with CPE Link, K2, CPA Crossings, CalCPA Webinars and Surgent McCoy CPE LLC to bring Nebraska Society members outstanding CPE topics and speakers from the convenience of a member’s own desk.

These online CPE courses (commonly called "webcasts" or "webinars") are broadcast live, comply with NASBA CPE standards, feature slides of the presentation to follow along, links to download any written materials, a forum to post ques-tions and comments, and many include video of the speaker.

These courses are NOT sponsored by the Nebraska So-ciety of CPAs and any questions or concerns should be di-rected to the corresponding organization.

CPE Link Webcasts CPE Link offers numerous webcasts each month

(typically two to four hours) covering a range of topics of in-terest to financial professionals. CPE Link instructors are ac-counting and tax professionals—all experts in their fields with many years of practical experience to share. Some are prac-ticing CPAs or attorneys and some are small business own-ers or consultants. Webinar attendance fees are reasonable, plus, members who have three or more participants at the same location viewing the webinar as a group, qualify for the discounted group rate.

K2 Webcasts K2 Enterprises offers a broad curriculum of technology-

focused CPE webinars to Society members. Members have webinar access to many of the courses that have made K2

Enterprises a leader in providing CPE to professionals throughout North America. K2 webinars have an award-winning team of instructors with literally hundreds of years of experience in helping professionals identify, address, and solve issues through the practical application of technology. K2 Enterprises offers webinars on a variety of topics, includ-ing Excel, QuickBooks, PDFs, accounting solutions, and Mi-crosoft Office.

Surgent McCoy's Webinars Hundreds of 2-, 4-, and 8-hour courses are available in

accounting, auditing, government/non-profit, technology, and the hottest tax topics – all the information you need. NO EX-AMS! Webinars qualify through NASBA as LIVE CPE credit.

CPA Crossings Programs CPA Crossings, LLC provides an extensive catalog of

live web-based programs produced and delivered by CPA Crossings or by one of its approved developers. The 2014 catalog consists of more than 65 topics in the areas of tech-nology, practice management, workflow automation, tax, eth-ics, fraud and accounting. Flexible scheduling provides a nice alternative to the traditional full-day educational format. Webinars are designed to focus on specialized topics pre-sented by knowledgeable professional.

CalCPA Webinars from the California Society of CPAs are coming soon! For webinars and webcasts: Visit the Society’s website at www.nescpa.org/webcasts.php to view the current courses.

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FOUNDATION AWARDS 2014-15 SCHOLARSHIPS Bellevue University

Morgan Brazeal Kelly Wenck Kristin Burns

Chadron State College Heather Wing

Concordia University Michael Kluender

Creighton University Alex Gavin Lauren Ruden Ciara Hegeholz Carly Stratton Ethan Lampman

Doane College Sydney Weyers

Hastings College Trevor Neill

Midland University Shane Buresh

Nebraska Wesleyan University Rachel Clymer Marielle Saathoff

Peru State College Jack Shi

Union College Ashley Unterseher

University of Nebraska - Lincoln Chase Dudzinski Melody Rickert Kara Leachman Adam Smith Lindsay McElhose Rosena Startzman Kyja Omdahl Nicole Timmerman

University of Nebraska at Kearney

Ashley Buoy Ankea Trambly Kaley Hodgen Larry Uttecht Jr.

University of Nebraska at Omaha Jonathan Foss Zachary McNair Alexander Haddad James Schlehr Joel Hoberman Xiaofang Wang Xue Li

Wayne State College Katelyn Jacobsen Katherine Pursell

Society Award Scholarships

Tracy S. Black of Lincoln 2014 Distinguished Service

to the Profession Award Recipient - Amy Schroeder

University of Nebraska-Lincoln

Jeffrey M. Scherer of Beemer 2014 Outstanding CPA in

Business and Industry Award Recipient - Rebecka Morris

Midland University

State Senator Galen D. Hadley of Kearney

2014 Public Service Award Recipient - Nicole Connor

University of Nebraska at Kearney

Fifth-Year & Other Scholarships

Jamie Aue - Peru State College Nathan Boggess - Wayne State College

Kent Campbell - Univ. of Nebraska at Omaha Meghan Carnahan - Doane College

Matthew Fowler - Bellevue University Adam Geiger - Wayne State College

Hope Harsh - Peru State College Taylor Lucas - Doane College

Matthew McNary - Creighton University Michael Meyer - Creighton University

Christine Ochsner - Univ. of Nebraska-Lincoln Hayden Schuerman - Nebraska Wesleyan Univ.

Ryan Sturenfeldt - Creighton University Tori Tramp - Nebraska Wesleyan University

Arnold L. Magnuson Scholarship Brian Kuehner - Creighton University

Aureus Group Scholarship Sydney Brummels -

Nebraska Wesleyan Univ.

Foundation Board Scholarship Meggan Gibson -

Univ. of Nebraska at Omaha

Shaw, Hull, Navarrette Scholarship Tyler Moore - Midland University

Support Accounting Scholarships! Donations can be sent to:

The Foundation of the Nebraska Society of CPAs, 635 S. 14th St., Ste., 330, Lincoln, NE 68508

Setting a new record for giving, the Society’s Founda-tion is again this year giving outstanding support for Ne-braska’s college accounting students!

At its May 2014 Board of Trustees’ meeting, the Founda-tion awarded an all-time record of $98,350 in scholarships to accounting students at 14 Ne-braska colleges and universi-ties. The scholarships ranged from $1,500 to $2,500 each. A total of 59 scholarships were awarded with 21 of the scholar-ship being for Fifth Year stu-dents who are completing their 150-hour education require-ment before sitting for the CPA Exam. In 2013, the Board gave just over $84,000 in scholar-ships.

Three of the scholarships are named for the Society’s 2014 Award Recipients and one scholarship is named for and in part funded each year by the Aureus Group of Lincoln and Omaha.

The Foundation Board, led by new Foundation President Jan Mumm of Ceresco, annual-ly distributes funds raised from the membership to fulfill its Mission, “to support excellence in the Certified Public Ac-counting Profession through financial assistance to account-ing programs of Nebraska col-leges and universities and to individuals interested in the profession through scholarship programs.”

Following is the 2014-2015 scholarship list:

3

detailed assessment to use in developing a work plan. In all but the very smallest private companies, this assessment will require substantial collaboration with most major business functions including sales and marketing, IT, legal and human resources.

Evaluate the Impact (2014-16) Evaluate the changes from cur-rent GAAP to the new revenue recogni-tion standard and evaluate the impact on how your company accounts for existing revenue streams and the results to your company’s financial statements. In addi-tion, evaluate how the standard will af-fect operational and performance metrics, company contracts, compensation plans, accounting policies, internal controls and tax matters. Work with your auditor to ensure that your approach to implement-ing the new revenue recognition standard and any changes in accounting for reve-nue recognition are documented com-pletely and accurately.

Retrospectively Adopt (2014) The standard should be applied using

one of the following two methods:

1. Retrospectively to each prior report-ing period presented and the entity may elect any of the following prac-tical expedients:

a. For completed contracts, an entity need not restate contracts that begin and end within the same an-nual reporting period.

b. For completed contracts that have variable consideration, an entity may use the transaction price at the date the contract was completed rather than estimating variable con-sideration amounts in the compara-tive reporting periods.

c. For reporting periods presented before the date of initial applica-tion, an entity need not disclose the amount of the transaction price allocated to remaining performance obligations and an explanation of when the entity expects to recog-nize that amount as revenue.

2. Retrospectively with the cumulative effect of initially applying the stand-ard recognized at the date of initial application. If an entity elects this transition method, it also should pro-vide the additional disclosures in reporting periods that include the date of initial application of the fol-

lowing items: a. The amount by which each finan-

cial statement line item is affected in the current reporting period by the application of the standard as compared to the guidance that was in effect before the change.

b. An explanation of the reasons for significant change.

In September, the Securities and Ex-change Commission determined that companies electing full retrospective adoption will only be required to apply the new standard for three years rather than the expected five years. Determine IT Changes Needed (2014)

Based on the determinations made in Tasks 2 and 3, the new standard may require modifications to IT systems to capture the appropriate level of infor-mation related to data used to make esti-mates on revenue recognition and new disclosures. Determine whether any changes will need to be made to IT sys-tems or software applications to capture information needed for the new revenue recognition standard, including the fol-lowing retrospective adoption and the additional qualitative and quantitative disclosures required.

Determine Interim Disclosures for Public Companies (2014-16)

Public companies should consider the guidance in SEC Staff Accounting Bulle-tin (SAB) No. 74 (Topic 11:M), Disclo-sure of the Impact that Recently Issued Accounting Standards Will Have on the Financial Statements of the Registrant When Adopted in a Future Period, to determine the appropriate interim disclo-sures to be made prior to the adoption of the new standard.

Develop Project Plan (2014–16) Develop an evolving project plan for

implementation of the revenue recogni-tion standard considering all of the tasks above and facilitate training for your staff.

Educate Stakeholders (2015-16) Based on the determinations made in Tasks 2 and 3, the new revenue recogni-tion standard may result in changes in timing of revenue recognized as well as new qualitative and quantitative disclo-sures that will need to be explained to stakeholders. Educate key stakeholders such as your audit committee, board of directors, investors and lenders on the new revenue recognition standard and what changes they should expect in your company’s financial statements.

REVENUE RECOGNITION STANDARD . . . From Page 1

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Nebraska CPA is published ten times annually for members of the Nebraska Society of CPAs. Publication is monthly, with the exception of two combined issues: February/March and December/January. Copy dead-line is the tenth of the month prior to publication.

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

Lincoln, Nebraska 68508 (402) 476-8482 or (800) 642-6178

Fax (402) 476-8731 Email society@nescpa.org

www.nescpa.org

OFFICERS Anthony J. Pruss, III, Chairman Patrick G. Kirlin, Chairman-Elect

Shari A. Munro, Secretary Michelle R. Thornburg, Treasurer

Daniel L. Wells, Immediate Past Chairman

DIRECTORS Vaughn L. Benson Sheila A. Brugger Douglas J. Lacey Ryan L. Parker John W. Sehi

John B. Fruhwirth Elected Member of AICPA Council

Richard D. Gifford West Nebraska Chapter President

STAFF Dan Vodvarka, President

Trudy Meyer, Vice President

Amber Velasquez of Fremont has been promoted to Manager of Assurance Services in the Omaha office of McGladrey LLP and Bren-na Maguire of Omaha has been promoted to Senior Associate in Assurance Services. Also at McGladrey, Andrew Young of Omaha has been promoted to Man-ager in Tax Services and Jeff Bau-mann of Omaha to Senior Associ-ate in Tax Services . . . Bryan Slone of Omaha has been elected to the Board of Directors of Ameritas Mu-tual Holding Company of Lincoln. Jack L. Krogstad of Pacific Junc-tion, IA and Elaine M. Hagele of Lincoln are both serving on the Board of Trustees of Union College in Lincoln.

5

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Nebraska Society membership applications have been received from the following indi-viduals. Objections should be filed with the Secretary of the Nebraska Society of CPAs: Shari A. Munro, Frankel Zacharia, LLC, 11404 W Dodge St., Ste. 700, Omaha, NE 68154-2576.

Lindsay J. Anderson, Ric Ortmeier, CPA; Fremont

Joshua P. Berns, McDermott & Miller, PC; Hastings

Brent C. Bradbury, Darst, Brune & Associates, LLC; Omaha

Brad L. Helgerson, Brad Helgerson, CPA; Mitchell

Michael A. Johnson, Open Door Mission; Omaha

Beau D. Redowl, Michael J. Pommer, CPA; Wakefield

Ashley L. Risseeuw, Kop-sa Otte + Associates, LLC; York

Joshua C. Shetler, Dana F. Cole & Co.; Omaha

Wesley S. Skillett, KPMG LLP; Lincoln

Anne K. Timan, Comput-er Services, Inc.; Lincoln

Bradley C. Vankat, BKD, LLP; Omaha

Membership Applications

In Memoriam

Roger Alger Missouri Valley, IA

1950-2014

Nebraska Certificate #2766 Society Certificate #2243

An important service the Society provides members is legislative rep-resentation with the Nebraska Legislature and members of the state’s con-gressional delegation. The Society leadership and staff are always active, especially in an election year, meeting, supporting and discussing important issues with Nebraska’s elected officials. Part of the process is the Society’s Political Education Committee’s (PEC) contributions to Nebraska state legis-lative candidates. In 2014, the Society’s PEC will contribute over $37,000 to State Senators and other legislative candidates in over 25 races. In the top picture is the current PEC Board of Trustees. From left to right is Dave Emry of Omaha, PEC Chairman, Bryan Robertson of Lincoln, Secretary-Treasurer, Steve Pribnow of Fremont, Don Heimes of Columbus, Vice Chair-man, and Tom Von Riesen of Omaha (not pictured Bill Strain of Lincoln). In the lower picture, Society Chairman of the Board Dan Wells of Omaha (center) and Society President Dan Vodvarka meet in the Society’s office in Lincoln with U.S. Senate candidate Ben Sasse of Fremont to discuss national issues. The Society helped with the AICPA’s support of Sasse’s campaign.

Representing Nebraska’s CPAs

6

The Nebraska Society of CPAs’ 2014 CPE Calendar www. nescpa.org Date Course Conference / Course Title Type Discussion Leader Facility & Location

November 3 TCFO Current Developments and Best Practices for Today's CFOs &

Controllers MA Art Pulis, Surgent McCoy Fairfield Inn & Stes, Grand Island, NE

4 PLFB CFO/Controller's Roadmap to Organization Success with Inte-grated Planning, Forecasting and Budgeting MA Art Pulis, Surgent McCoy Mahoney State Park, Ashland, NE

5 SASC The Clarified SAS's - SAS 117 to Current AA Paul Koehler, CPA Mahoney State Park, Ashland, NE 6 SAOC Single Audits Under OMB Circular A-133 AA Paul Koehler, CPA Mahoney State Park, Ashland, NE

7 H1TU 2014-2015 One-Day Federal Tax Update – Individual, Business & Corporate TX Vern Hoven & Ron

Roberson The Cornhusker, Lincoln, NE

10 AAUP Accounting and Auditing Update for Tax Practitioners AA Thomas V. Snell Mahoney State Park, Ashland, NE

11 AWPD Surgent's Audit Workshop: Best Practices in Planning & Design-ing a High-Quality and Profitable Audit AA Thomas V. Snell,

Surgent McCoy Mahoney State Park, Ashland, NE

12 FGAC Fundamentals of Governmental Accounting and Reporting AA John Georger, Jr., AICPA Fairfield Inn & Stes, Grand Island, NE

13 EO-OMB Applying OMB Circular A-133 to Not-for-Profit and Governmental Organizations AA John Georger, Jr., AICPA Fairfield Inn & Stes, Grand Island, NE

14 SAYB Studies on Single Audit and Yellow Book Deficiencies AA John Georger, Jr., AICPA Fairfield Inn & Stes, Grand Island, NE

17 ELose Ethics and Nebraska Professional Standards: 10 Ways to Lose Your CPA License with Gary Zeune (4-Hour Morning Course) ET Gary Zeune, CPA, Zeune

& Assoc. Embassy Suites Conf. Ctr., LaVista, NE

17 ACA2014 Fraud in the Affordable Care Act: 15 BIGGEST Risks for 2014 (4-Hour Afternoon Course) AA Gary Zeune, CPA, Zeune

& Assoc. Embassy Suites Conf. Ctr., LaVista, NE

18 CFO Gary Zeune’s Controller to CFO: 11 Skills to Transform Yourself MA Gary Zeune, CPA Embassy Suites Conf. Ctr., LaVista, NE

19 HTOF From Hiring to Firing and Everything In-Between: Legal, Tax and Health Care Issues TX John Cox, MBA, JD,

Surgent McCoy Mahoney State Park, Ashland, NE

20 MBAD MBA in a Day! MA John Cox, MBA, JD Mahoney State Park, Ashland, NE 24 ETU 2014 Essential Tax Update TX Bradley P. Burnett, J.D. Divots Conf. Ctr., Norfolk, NE

25 SPU Succession Planning Update for Closely Held Businesses, Farms and Ranches (4-Hour Morning Course) TX Bradley P. Burnett, J.D.,

LL.M. Divots Conf. Ctr., Norfolk, NE

25 ISNR IRS’ Scathing New Repair vs. Capitalize Regs (4-Hour After-noon Course) TX Bradley P. Burnett, J.D.,

LL.M. Divots Conf. Ctr., Norfolk, NE

December 1 TAU Tax Advisors Update (Co-Sponsored with the IA Society of

CPAs) TX Andy Biebl, CliftonLarsonAllen Marina Inn Conf Ctr, S. Sioux City, NE

2 STSI Streamlined Tax Staff Training - Level 1 - Individual TX Randy Newton, Nichols German American Society, Omaha, NE

3 STSB Streamlined Tax Staff Training - Level 2 - Business TX Newton, Nichols Patrick German American Society, Omaha, NE 4 TUFE Tax Update for Financial Executives TX Newton, Nichols Patrick German American Society, Omaha, NE

5 SUTAEI Nebraska Sales & Use Tax Update For Contractors & Nebraska Advantage Economic Incentives Program (4-Hour Morning Course)

TX Steve Drzaic & Mary Hugo, Nebraska Depart-ment of Revenue

The Cornhusker, Lincoln, NE

5 ETH14 Enhancing Ethical Decision Making By Understanding Your Per-sonality (4-Hour Afternoon Course) ET Jeremy Wortman, PhD,

HRD Initiatives LLC The Cornhusker, Lincoln, NE

8-9 H2TU 2014-2015 Two-Day Federal Tax Update – Individual, Business & Corporate TX Vern Hoven & Ron

Roberson Embassy Suites Conf. Ctr., LaVista, NE

11 NYBS The New 2011 Yellow Book – Government Auditing Standards AA Paul Koehler, CPA Mahoney State Park, Ashland, NE 12 GAAU Governmental Accounting & Auditing Update AA Paul Koehler, CPA Mahoney State Park, Ashland, NE 15 ETU 2014 Essential Tax Update TX Bradley P. Burnett, J.D. Fairfield Inn & Stes, Grand Island, NE

17 CMT Church and Minister Taxation TX R. "Butch" Rogers, Nichols Patrick The Cornhusker, Lincoln, NE

18 NFFI Getting Ready for Busy Season: A Guide to New Forms, Filing Issues & Other Critical Developments TX Jonathan Ingber,

Surgent McCoy The Cornhusker, Lincoln, NE

19 ERTW Effective & Efficient Senior-Level Review of Individual Tax Re-turns TX Jonathan Ingber,

Surgent McCoy The Cornhusker, Lincoln, NE

7

AICPA PROMOTES DIVERSITY / INCLUSION The AICPA’s Diversity and In-

clusion Team along with the Nation-al Commission on Diversity and In-clusion continues to lead and devel-op tools to attract, retain and ad-vance top diverse talent needed to manage the challenging and com-plex issues CPAs face in the profes-sion today. Why Does Diversity and Inclusion

Matter? Diversity is any trait used to dif-

ferentiate people from each anoth-er—for example, ethnicity, gender, age, national origin, disability, sexu-al orientation, educational level and religion. Inclusion puts diversity to work, creating opportunities for eve-ryone to fully participate in creating success. In short, diversity is who we are and inclusion is what we do.

Diversity is important to the pro-fession for two primary reasons: en-

trepreneurial capital and demo-graphic shifts. Entrepreneurial di-versity has been a catalyst in mov-ing the U.S. economy forward; for example, people of color owned 22.1% of all U.S. businesses in 2012, while women owned 28.8% of all businesses, and lesbian, gay, bisexual and transgender individu-als owned approximately 5%. The CPA profession provides services to businesses of all kinds, owned by people of all kinds. Our clients are becoming more diverse and we need to better understand the communi-ties they come from in order to reach out in a relevant and genuine way.

Labor market trends are also compelling. According to Census Bureau projections, the U.S. popula-tion will grow older and more ra-cially and ethnically diverse. By

2050 there will be no ethnic majori-ty in the U.S. Further, between 2000–2050, new immigrants and their children will account for 83% of the working age population’s growth. It is imperative that the pro-fession understands that diversity and inclusion are no longer about doing what is “right,” but also doing what is necessary to remain relevant and serve the public interest.

What are we doing? The Institute’s work on D&I

with the guidance of the National Commission on Diversity and Inclu-sion encompasses the recruitment, retention and advancement of di-verse talent entering the profession. Major projects under development include the implementation of a pro-fession-wide pipeline project, the development of a recruitment and retention toolkit and webcast series, and a maturity model assessment to assist organizations in understand-ing where they are in their diversity journey.

Recent accomplishments include the Institute taking on the leadership role in the implementation of a pro-fession-wide pipeline project. The project consists of three key areas of focus: Increasing communication and awareness, strengthening school-based programs for high school and college, and increasing the number of minorities getting their CPA. This initiative was created in response to a report authored by Frank Ross and other scholars from Howard Univer-sity entitled Attracting Underrepre-sented Minorities to the Accounting Profession: Insights Into Diversify-ing the Talent Pipeline.

The second accomplishment was the recent launch of Inclusion Solu-tions, a free monthly e-newsletter that highlights the latest develop-ments in diversity and inclusion

Continued on Page 10

8

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2014: More for your clients.Increased Nebraska state tax deduction for college savings contributions—up to $10,000.

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52ND GREAT PLAINS INSTITUTE

DECEMBER 4-5 SCORE is a nonprofit organization dedicated to educating entrepre-

neurs and helping small businesses start, grow, and succeed nationwide. SCORE is a resource partner with the U.S. Small Business Admin-

istration and has been mentoring and educating small business owners and entrepreneurs for more than 50 years. Nationwide there are over 11,000 volunteers and over 325 SCORE chapters. Nebraska currently has chapters in Kearney, Columbus, Omaha, Lincoln, Norfolk and Scottsbluff.

SCORE provides mentoring services, in-person and on-line, free of charge on every aspect of business planning, start-up, management and growth to clients. Mentors are working and retired business profession-als who have volunteered their time to support the success of small businesses and entrepreneurs. In addition to mentoring, SCORE chap-ters provide business workshops and seminars customized to the needs of the local business community at a nominal fee to the participants.

If you would be interested in giving of your time and business expe-rience for the benefit of those individuals seeking to start and grow their own business or know of someone who might benefit from SCORE, please visit the SCORE website at www.score.org or contact Kelvin M. Kemp, CPA at 402-521-0043.

The 52nd Annual Great Plains Fed-eral Tax Institute is scheduled for De-cember 4-5, 2014, at the Embassy Suites Downtown/Old Market in Omaha The annual Institute has presentations of in-terest to attorneys, accountants, financial planners, life insurance and other tax professionals.

Registration fees are $435, but a discounted fee of $385 is given for regis-trations received by Nov. 11. The regis-tration deadline is Nov. 24. Par tici-pants will receive course materials online. Purchasing printed course materi-als is optional. The course provides both CLE and CPE credit for Nebraska and Iowa attorneys and CPAs. Registration is online at http://www.greatplainstax.org. For more information, contact the pro-gram manager at 402/483-4234 or cin-dylilleoien@gmail.com.

Onsite check-in for the event gets under way at 7:30 a.m. on Dec. 4. Pro-gramming begins that day at 8:20 a.m.

9

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DIVERSITY / INCLUSION . . . From Page 8

CPA position with 5 or more years public experience in small Texas Panhandle town. Salary of $75,000 or more based on experience plus benefits. Please mail resume to 521 Denver Ave, Dalhart, Texas 79022 or email to chad@gaskillpharis.com.

Director of Finance—Nebraska United Methodist Foundation

The Nebraska United Methodist Foundation is seeking a Director of Finance who understands the challenges and need for flexibility in a small not-for-profit environment. Attractive salary and benefit allow-ance. 30 hours per week at a Lin-coln location. Ideal applicant should have 5 years non-profit accounting (QuickBooks and Excel preferred) with a Bachelor’s degree in Ac-counting or extensive experience in the field. Strong analytical, commu-nication, organizational and research skills and the ability to interact pro-fessionally with staff and the Board of Directors. Must have project man-agement skills, verbal and written skills to articulate complex financial information. Interested applicants should forward their resume, references and salary requirements to acrisp@numf.org. Deadline for consideration is De-cember 15, 2014 and interviews will begin the week of January 5, 2015.

OPPORTUNITIES AVAILABLE PAGES 10, 11 & 12

ACCOUNTANT / CPA TAX MANAGER

Manhattan Public Accounting firm seeks motivated professional for our growing staff. Established firm has opportunity for talented and ambi-tious Tax Manager. Seven or more years of technical tax experience is required. Substantial client contact is expected and excellent communi-cation skills are necessary. CPA license preferred. Our firm is service-oriented, provid-ing clients with a high degree of tax planning and consulting services. We provide a professional atmos-phere, opportunity for growth and room for advancement. We offer competitive salaries, excel-lent benefit packages, flexible scheduling, and no required travel. Please send confidential resume to: Sink, Gordon & Associates, LLP; Public Accountants, 727 Poyntz Ave., Manhattan, KS 66502. Your resume can be emailed to jgor-don@sinkgordon.com.

Senior Manager Omaha CPA firm is seeking a Senior or Senior Manager to assume respon-sibilities of a retirement minded Part-ner. We are looking for a CPA who is seeking immediate client contact and responsibilities; there is the po-tential for ownership in a short period of time to the right candidate. We are looking for an individual with public accounting experience in income tax preparation and planning. Full bene-fit package, West Omaha location with no overnight travel. If you are interested, please send your resume to Jim Reinig at jim@mnrcpas.com or fax to 402-330-0809.

within the business community and accounting profession. The purpose of the newsletter is to raise aware-ness and knowledge of best practic-es, increase worldviews and high-light successes of diversity in the profession. Knowledge empowers each of us to effectively recruit and retain talent, develop others and ourselves, and be role models both in our local communities and in the profession at large. Be sure to read the report by Howard University and subscribe to Inclusions Solu-tions as a resource for your diver-sity and inclusion growth and edu-cation.

For more information about the AICPA’s efforts on diversity and inclusion, please visit their website at www.aicpa.org/careers/diversity or contact Kim Drumgo at kdrumgo@aicpa.org or 919-402-4912.

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Omaha 402.330.9580 | Lincoln 402.742.0118 | pltechnology.com/cpa

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Billable Client Hours.

Non-Billable Hours Managing IT.

PROFIT:LOSS:

PROFIT:LOSS:

SR. INTERNAL AUDITOR POSITION SUMMARY: The objec-tive of internal auditing is to assist all member of management in the effective discharge of their responsibilities by furnishing them with analysis, apprais-als, recommendations and pertinent comments concerning the activities re-viewed. Internal Audit is concerned with any phase of business activity in which they may be of service to management, the Board of Directors, the Audit Com-mittee, the External Auditors and the owners. This not only involves review-ing the accounting and financial records, but also includes obtaining a full under-standing of the operations under review. ESSENTIAL JOB FUNCTIONS Administrative

1. Provide support and leadership in establishing and updating policies and procedures for the internal audit function and reporting actual time incurred on projects.

2. Provide support and leadership in assisting in preparing and adminis-tering the department budget.

3. Provide support and leadership in assisting in the training and supervi-sion of other Internal Audit Depart-ment staff.

Technical 1. Prepare and conduct risk analyses

for audit projects for review by the Corporate Controller.

2. Execute audit planning, research, data and information collection, scheduling and report preparation.

3. Ensure conformance with accepta-ble audit standards, plans, budgets, schedules and participation.

4. Develop and execute corrective ac-tion plans per audit results.

Reporting Results and Management Communication

1. Timely and accurately develop re-ports on audit examinations, recom-mendation for improvements, cor-rective action and management noti-fication.

2. Develop and conduct an exit confer-ence to review findings. (continued)

3. Assist in the development of reports to management.

4. Demonstrate regular attendance and timeliness in reporting to work, meetings, and completing assign-ments.

5. Ability to work and interact well with others.

OTHER JOB FUNCTIONS 1. Assist external auditors with inter-

im and year-end procedures for the financial statement and benefit plan audits.

2. Assist in the preparation of the quarterly Board of Directors’ re-port..

3. Assist in the preparation of an an-nual Distribution Center audit plan and monitoring the accuracy of cy-cle counts and audits for the Distri-bution Center.

4. Conduct special projects as as-signed.

5. Participate in various teams when audit expertise is needed or request-ed.

6. Maintain confidentiality of sensi-tive information.

JOB QUALIFICATIONS (continued)

Education: Four year college de-gree, accounting major preferred Experience: Minimum of 3 years public accounting and/or relevant in-dustry internal audit experience. Required Skills: CPA Certificate Demonstrate knowledge of inter-

mediate accounting and auditing concepts

Ability to conduct audits or spe-cial management projects inde-pendently from start to finish in-cluding performing risk analysis, writing, audit programs, perform-ing fieldwork procedures and writing the findings in report for-mat

Intermediate communication, or-ganizational, time management and project management skills

Advanced problem solving and documentation skills

Intermediate PC skills Please send responses to:

Gloria.Jensen@lozier.biz. Lozier Corporation

6336 Pershing Drive Omaha, NE 68110

OPPORTUNITIES AVAILABLE PAGES 10, 11 & 12

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

PRSRT STD US POSTAGE

PAID CORNERSTONE

THINKING OF SELLING YOUR PRACTICE? Account-ing Practice Sales is the leading marketer of accounting and tax practices in North America. We have a large pool of buyers, both individuals and firms, looking for practices now. We also have the experience to help you find the right fit for your firm and negotiate the best price and terms. To learn more about our risk-free and confi-dential services, call Trent Holmes at 1-800-397-0249 or email Trent @accountingpracticesales.com.

Labenz & Associates LLC Accountant Position

This is a great opportunity for an experienced accountant to work at a successful, expanding accounting firm in Lincoln. We are seeking a CPA or CPA can-didate with at least two years ac-counting experience. Primary responsibilities will include tax planning, preparation of income tax returns and preparation of finan-cial statements. To be successful in this role you need to be able to work with dead-lines and enjoy contributing to a fun, professional working environment. You will take ownership of this role and be passionate about teamwork and our core values – our team en-joys coming to work every day. Please send applications to Kirk Hovendick, Partner – khovendick@ labenz.com.

Staff Accountant – Lincoln CPA firm is seeking full time CPA, mini-mum of 3 years experience in ac-counting, financial statement, and tax preparation. Candidate could have immediate opportunity for di-rect client responsibilities. The ideal candidate will have attention to de-tails, able to manage/prioritize multi-ple projects at the same time, able to meet deadlines, and exhibit an enthu-siasm to serve clients independently.

Seasonal Tax Preparer – Lincoln CPA firm seeks seasonal part-time help. Experience in preparing in-come tax for individuals and busi-nesses in a variety of indus-tries. This position will provide sup-port to our firm from approximately February 15 through April 15. An-ticipate between 35-50 hours per week. Daily hours could be flexible.

Please respond to: NE Society of CPAs, Trudy Meyer, File #091865, 635 S. 14th St., Suite 330, Lincoln, NE 68508.

Omaha, NE Tax & Accounting Practice for Sale: Gross revenues just under 100K. Nice revenue mix comprised of tax work, monthly & quarterly accounting and payroll ser-vices providing year-round income. Well-established, profitable practice with strong fee structure generating excellent cash flow to owner of near-ly 90% of gross! For more infor-mation about this opportunity or oth-ers in your area, please call 1-800-397-0249. To view listings, inquire for details, and register for free email updates visit us at www.Accounting PracticeSales.com.

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