macpa 2013 spring piu - gnfp
DESCRIPTION
MACPA's CEO, Tom Hood opened the 2013 Government & Not-For-profit Conference with a briefing of the 2013 Professional Issues Update featuring the latest trends and issues facing CPAs. This special briefing focused on developments affecting Government and NFP CPAs. The MACPA Government & NFP Conference is an annual event attracting 500+ CPAs serving and working in GNFP.TRANSCRIPT
Tom Hood, CPA, CITP, CGMA CEO
MACPA & the Business Learning Institute
MACPA Professional Issues Update for GNFP
www.SlideShare.net/thoodcpa
#GNFP13 #MACPA @tomhood @MACPA
Download today’s slides at …
Technology & the Caveman
Do you agree?
http://www.burrus.com
Inattentional blindness
• Change • Complexity • Compliance • Convergence • Competition
Remember this? MANAGING THE SEA CHANGE
The new “Big Four”
• Standards & Leg/Reg
• Technology • InnovaBon • GeneraBons in workplace
Standards
• InternaBonal – IASB & IFRS
• FASB & PCC • AICPA & FRF –
SME • ASB – Clarity
(12/15) • GASB Pension • PEEC hPp://cpa.tc/1us
Accoun&ng bodies hail G20 emphasis on public sector repor&ng
DATA Act & Financial Industry Transparency Act using XBRL
GASB Whitepaper
FAF, XBRL and You
Form 990 Data Transparency
• NFP tax returns are public informaBon • And…they’re not easily searchable (PDFs) • 30% of Form 990s are filed electronically… • Then get printed and scanned and loaded on disks.
• President Obama’s 2014 budget calls for electronic filing of Form 990, and…
• Requires IRS to publish data in a machine readable format (XBRL?)
FASB Industry Taxonomy Project
• Develop industry specific taxonomies • BePer suited for each industry • Industries parBcipaBng include: • Insurance • Banking • Brokers and Dealers • Real Estate • NFPs
FASB NFP Taxonomy Project -‐ ParBcipaBng OrganizaBons
• AICPA • CFA InsBtute • NACUBO • Thurgood Marshall College Fund • FAF • MACPA
The process…
• IdenBfy elements and concepts unique to non-‐profit accounBng that don’t currently exist in the US GAAP Taxonomy.
Such as: • Split-‐interest agreements • Pledges receivable • Temporarily restricted net assets
www.macpa.org
MACPA State Budget Task Force
15
Where were you on January 16th?
2014 CPA day – January 15, 2014
It’s really a numbers game
2,500 188 90
State Board of Accountancy
1. ProjecBon of status on CPA Board fund. How it will be monitored to determine when a fee increase is needed? The fund must cover IT improvement costs.
2. Review of peer review process for monitoring fail and 2nd pass with deficiency reports.
3. Review of the exam applicaBon process. Determine if processing should be conBnued in-‐house or contracted out to a third party.
The power of WE!
#SocialAccounBng
The Future is Bright Students from U of B
Glassblowing and CPAs?
MACPA Summit – May 16th, 2013 MarBn’s West
More than half the world's greatest discoveries have been made through serendipity. ~ Melvin Saunders
Tom Hood, CPA.CITP CEO Maryland AssociaFon of CPAs Business Learning InsFtute (443) 632-‐2301 E-‐mail [email protected] Web hUp://www.macpa.org Blog hUp://www.cpasuccess.com Blog hUp://www.bizlearningblog.com
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