New CPAs - Welcome to the CPA Profession - 2013

  • 721 views
Uploaded on

Slidedeck for New CPA Swearing-in Ceremony held in cooperation with the Maryland Department of Labor, Licensing & Regulation to recognize newly licensed CPAs in Maryland. …

Slidedeck for New CPA Swearing-in Ceremony held in cooperation with the Maryland Department of Labor, Licensing & Regulation to recognize newly licensed CPAs in Maryland.

This includes some fun facts about the history of the CPA Profession in Maryland.

This is our sixth year hosting this event and featured Barry Melancon, CPA Chairman of the AICPA, Liz Gantnier, CPA member of the State Board, and Michael Vorgetts, Commissioner of Occupational & Professional Licensing of the DLLR who administered the oath.

More in: Education , Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here

Comments are closed

    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
721
On Slideshare
0
From Embeds
0
Number of Embeds
2

Actions

Shares
Downloads
6
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide
  • US GAAP went from 25,000 pages to 17,000 with Codification (compared to 2,500 for IFRS)According to the US Government Printing Office, it's 13,458 pages in total. The full text of Title 26 of the United States Code (the part written by Congress--available for an additional $179) is a mere 3,387 printed pages, bringing the adjusted gross page count to 16,845.
  • Some things we have tracked – with BLueOcean handling from start to finish – Holiday party registrations were double last year and CPA Day is up over 40% from last year. Other things they are just starting to impact, future registrations are up 20%, membership is up 10% and dues renewal, with no increase, are at same point as prior three years 92%. Only big thing that was down is 1040FastTrack . . . All of the print marketing had been done prior to BlueLine but we also changed dates from prior scheduling based on feedback from tax listserve

Transcript

  • 1. Welcome to the CPA Profession! Congratulations New CPAs!
  • 2. We believe in CPAs! Period. And we believe in you! Congratulations!
  • 3. Maryland CPA Facts Tonight marks the sixth year of our official swearing-in ceremony developed in cooperation with the Maryland Department of Labor Licensing & Regulation
  • 4. “Let your future be lit with the knowledge of the past.” - Sakichi Toyoda, Founder, Toyoda Automatic Loom Works, predecessor to Toyota Motor Company
  • 5. Welcome Barry Melancon, CPA, CGMA, President & CEO of AICPA Barry C. Melancon is the President and Chief Executive Officer at the American Institute of Certified Public Accountants (AICPA), the national professional association of CPAs, with nearly 386,000 members worldwide.
  • 6. Welcome Michael T. Vorgetts, Acting Commissioner Michael Vorgetts joined the Division of Occupational and Professional Licensing in August 2012 to serve as Deputy Commissioner after four years with the Maryland Department of Legislative Services. He currently serves as the Acting Commissioner.
  • 7. Maryland CPA Facts Maryland State Board of Public Accountants
 Chair - Thomas J. "Tim" Murphy, CPA, Prince George's County
 Mac N. Claxton, CPA, Prince George's County Elizabeth S. Gantnier, CPA, Frederick County Clifton B. Jeter, CPA, Montgomery County
 Ella H. Pierce, Baltimore City Naomi B. Powell, Prince George's County
 Raymond C. Speciale, Esq., CPA, Frederick County Dennis L. Gring, Executive Director
 Linda Rhew, Administrative Officer
  • 8. Maryland CPA Facts Associations have their roots in the First Amendment of the US Constitution that allowed for: • freedom of speech • to peaceably assemble • to petition the Government for a redress of grievances Source: Newseum in Washington DC
  • 9. Maryland CPA Facts Two Marylanders are credited with the formation of the CPA Profession in the United States: Edward C. Cockey as the first president of the AICPA and Henry Harney as the source of the concept of a Certified Public Accountant. Source : MACPA History Book
  • 10. Maryland CPA Facts A profession has three major attributes 1. A distinct and evolving body of knowledge 2. A commitment to the public interest – licensed by the government 3. A code of conduct and ethics
  • 11. Town Halls VUCA
  • 12. Maryland CPA Facts The CPA Examination The 1900 Exam The 2013 Exam 1.Auditing & Attestation 1. Practical (AUD) Accounting 2. Theory of Accounts 2.Business Environment 3. Auditing Concepts (BEC) 4. Commercial Law 3.Financial Accounting 5. Commercial & Reporting (FAR) Arithmetic 4.Regulation (REG)
  • 13. Maryland CPA Facts Maryland was the third state in the U.S. to recognize the public interest of accounting and financial reporting by enacting a law that established and regulated the practice of the profession of PUBLIC ACCOUNTANT. On April 10, 1900, Governor John Smith signed into law Chapter 719 establishing the (Certified) Public Accounting designation
  • 14. CPExpress Select new
  • 15. Maryland CPA Facts The Maryland Association of CPAs, Inc. was established on February 12, 1901 for the purpose of uniting CPAs across Maryland and enabling them to conform to the high standards of the CPA profession.
  • 16. Maryland CPA Facts We updated our mission and purpose in 2000 (and logo in 2011) to reflect the changing world of the CPA Profession and our Association.
  • 17. Maryland CPA Facts We will help CPAs compete and thrive in a rapidly changing environment by: • Connecting them to their profession, each other, and the business community. • Protecting and promoting the CPA license and brand. • Achieving career success through technical excellence, thought leadership, best-in-class professional development, and being their trusted filter for information.
  • 18. Maryland CPA Facts Associations were a “uniquely American institution” first observed by the French political philosopher in 1835 when he noted: “From then on, they are no longer isolated men, but a power one sees from a far, whose actions serve as an example; a power that speaks, and to which one listens.” – Alexis de Tocqueville
  • 19. CPAs in record attendance at CPA Day in Annapolis Nowhere is this more evident than in our advocacy efforts at the State Board of Public Accountancy and in Annapolis for our Legislature… CPA Day in Annapolis January 15, 2014
  • 20. KEY GOALS/ RESULTS History of CPA Legislation In the Beginning... Max Teichman, Frank Blacklock & William Rogers Rights & Recognition •Privilege of SelfRegulation •Right to Sole Control over an Area of Practice AG opinion of 1981 Grants rights to non-CPAs for Reviews & Comps. SB 560 Defeated Maryland Corporate Accountability Act MACPA requests reversal of AG Opinion – “This is not an audit” language added MACPA wins use of “consultants” in firm letterhead at State Board PROJECTS/ STRATEGIES State Board of Accountancy formed Maryland becomes the 1st state to restrict practice for CPAs KEY EVENTS HB 1261 re-writes CPA Law - 1986 Accounting Reform task Force addresses SOX • CPA Bill signed April 10, 1900 • MD is 3rd state (NY & PA) PRODUCTS/ SERVICES/ SITES Larry Kamanitz chairs Legislative Committee Dawson Grove chairs Legislative Committee MACPA defeats Sales Tax on Services Amended Corporate Tax Reporting Bill MACPA passes new simpler CPA exam Education Rules PEOPLE MACPA Forms Task Force and surveys members 88% Sub Equivalency 76% Peer Review & Safe Harbor 68% Non-CPA Ownership Maryland Special Session Oct – Nov 07 State Board Hearing May 1, 2003 MACPA amendments to ed requirements fail HB 1296 Mobility Passes Terry Hancock chairs Legislative Committee Allen Deleon chairs Legislative Committee Dateline 1900 1901 1922 1924 1974 1976 1981 1987 1993 Maryland Association of CPAs 1999 2001 2003 2005 2006 2007 20 2008
  • 21. Maryland CPA Facts Maryland was one of the first states to enact a law requiring mandatory Continuing Professional Education (CPE), recognizing the public interest of CPAs keeping up with changes in standards and law. This has turned into a core value of lifelong learning for CPAs.
  • 22. And continues to be modernized to meet the demands of the Profession and the changing world we live in… A Bill SB 128 From State Board Maryland Senate & House passes bill Maryland Governor signs into law Law Maryland State Board of Public Accountancy Clarify thru regulations And enforce the law
  • 23. Tax Curriculm
  • 24. 1040 fast track
  • 25. Maryland CPA Facts In 1924, Maryland was the first state to enact a law restricting the practice of public accountancy to licensed CPAs and recognizing the important role CPAs would play in the growing commerce and industrial sectors of the Maryland economy. This would resurface with the advent of Accounting & Review services in a 1981 Attorney General Opinion allowing non-CPAs to offer reviews and compilations in the State of Maryland, only to be reversed by legislation sponsored by MACPA & the State Board in 2010 reverting back to the original intent of the 1924 law.
  • 26. Maryland CPA Facts More than 100 MACPA members call our senators and we defeat the amendment!
  • 27. Maryland CPA Facts “A large field for the ladies” MACPA was one of the first organizations to recognize the importance of women in the CPA profession with the admittance in 1909 of two members, Elsa Doetsch and Florence Hooper. The Maryland BAR would not admit women until 1946 Source: MACPA History Book
  • 28. ETHICS
  • 29. Maryland CPA Facts Maryland continues to be a leader in the CPA Profession and recognized as an innovator.
  • 30. MACPA’s CEO was named as the second most influential person in the Accounting Profession among the Top 100 list by Accounting Today Magazine. It was Tom’s ninth year on the list.
  • 31. Maryland CPA Facts Maryland continues to be a leader in the CPA Profession and recognized as an innovator.
  • 32. Maryland CPA Facts In 2011, MACPA led the CPA Horizons 2025 Project for the AICPA using our i2a: Insight to Action strategic thinking system to design and facilitate over 30 future forums with 1,000 CPAs to create a vision for the Profession in 2025.
  • 33. Maryland CPA Facts MACPA members have a competitive edge with 24 hours of free CPE and the best learning resources in the CPA Profession
  • 34. Maryland CPA Facts MACPA can help you maximize your career trajectory through our Business Learning Institute’s leadership proficiency training. http://cpa.tc/thebounce
  • 35. NEW BLI WEBSITE partner ad
  • 36. Maryland CPA Facts “Association members earn higher salaries, like their jobs more, and are happier people, on average, than those that do not join associations.” - Where the Winners Meet: Why Happier, More Successful People Gravitate Toward Associations Study by William E. Smith
  • 37. Association by Seth Godin Who you hang out with determines what you dream about and what you collide with. And the collisions and the dreams lead to your changes. And the changes are what you become. Change the outcome by changing your circle.
  • 38. There is an old adage that says, "you can tell a lot about a person from the company they keep.” We hope you will choose to “associate” with us. Best wishes for a successful career as a CPA!