Tom Hood, CPA, CITP, CGMA	CEO	MACPA & the Business LearningInstitute	MACPA Professional Issues Updatefor 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• CompetitionRemember 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	  –	  Clarit...
Accoun&ng	  bodies	  hail	  G20	  emphasis	  on	  public	  sector	  repor&ng	  	  DATA	  Act	  &	  Financial	  Industry	  ...
GASB	  Whitepaper	  
FAF,	  XBRL	  and	  You	  
Form	  990	  Data	  Transparency	  •  NFP	  tax	  returns	  are	  public	  informaBon	  •  And…they’re	  not	  easily	  se...
FASB	  Industry	  Taxonomy	  Project	  •  Develop	  industry	  specific	  taxonomies	  •  BePer	  suited	  for	  each	  ind...
FASB	  NFP	  Taxonomy	  Project	  -­‐	  	  ParBcipaBng	  OrganizaBons	  •  AICPA	  •  CFA	  InsBtute	  •  NACUBO	  •  Thur...
The	  process…	  •  IdenBfy	  elements	  and	  concepts	  unique	  to	  non-­‐profit	  accounBng	  that	  don’t	  currently...
www.macpa.orgMACPA State BudgetTask 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	  m...
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	  worlds	  greatest	  discoveries	  have	  been	  made	  through	  serendipity.	  ~	  Melvin	  S...
Tom	  Hood,	  CPA.CITP	  CEO	  Maryland	  AssociaFon	  of	  CPAs	  Business	  Learning	  InsFtute	  (443)	  632-­‐2301	  E...
MACPA 2013 Spring PIU - GNFP
MACPA 2013 Spring PIU - GNFP
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MACPA 2013 Spring PIU - GNFP

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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.

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MACPA 2013 Spring PIU - GNFP

  1. Tom Hood, CPA, CITP, CGMA CEO MACPA & the Business LearningInstitute MACPA Professional Issues Updatefor GNFP
  2. www.SlideShare.net/thoodcpa  #GNFP13  #MACPA  @tomhood  @MACPA  Download  today’s  slides  at  …  
  3. Technology  &  the  Caveman  
  4. Do  you  agree?  
  5. http://www.burrus.com Inattentional blindness
  6. • Change• Complexity• Compliance• Convergence• CompetitionRemember this?MANAGING THE SEA CHANGE
  7. The  new  “Big  Four”  • Standards  &  Leg/Reg  • Technology  • InnovaBon  • GeneraBons  in  workplace  
  8. Standards  •  InternaBonal  –  IASB  &  IFRS  •  FASB  &  PCC  •  AICPA  &  FRF  –  SME  •  ASB  –  Clarity  (12/15)  •  GASB  Pension  •  PEEC  hPp://cpa.tc/1us  
  9. Accoun&ng  bodies  hail  G20  emphasis  on  public  sector  repor&ng    DATA  Act  &  Financial  Industry  Transparency  Act  using  XBRL  
  10. GASB  Whitepaper  
  11. FAF,  XBRL  and  You  
  12. 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?)  
  13. FASB  Industry  Taxonomy  Project  •  Develop  industry  specific  taxonomies  •  BePer  suited  for  each  industry  •  Industries  parBcipaBng  include:  •  Insurance  •  Banking  •  Brokers  and  Dealers  •  Real  Estate  •  NFPs  
  14. FASB  NFP  Taxonomy  Project  -­‐    ParBcipaBng  OrganizaBons  •  AICPA  •  CFA  InsBtute  •  NACUBO  •  Thurgood  Marshall  College  Fund  •  FAF  •  MACPA  
  15. 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  
  16. www.macpa.orgMACPA State BudgetTask Force 15
  17. Where  were  you  on  January  16th?  2014  CPA  day  –  January  15,  2014  
  18. It’s  really  a  numbers  game  2,500  188  90    
  19. 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.  
  20. The  power  of  WE!  
  21. #SocialAccounBng  
  22. The  Future  is  Bright  Students  from  U  of  B  
  23. Glassblowing  and  CPAs?  MACPA  Summit  –  May  16th,  2013  MarBn’s  West  
  24.  More  than  half  the  worlds  greatest  discoveries  have  been  made  through  serendipity.  ~  Melvin  Saunders  
  25. Tom  Hood,  CPA.CITP  CEO  Maryland  AssociaFon  of  CPAs  Business  Learning  InsFtute  (443)  632-­‐2301  E-­‐mail  tom@macpa.org  Web  hUp://www.macpa.org  Blog  hUp://www.cpasuccess.com  Blog  hUp://www.bizlearningblog.com      Follow  me  on:  ü   TwiPer:  hPp://www.TwiPer.com/tomhood  ü   LinkedIn:  hPp://www.linkedin.com/in/tomhood  ü   Facebook:  hPp://www.facebook.com/thoodcpa  ü Plaxo:  hPp://tomhood.myplaxo.com  ü Slideshare:  hPp://www.slideshare.net/thoodcpa  ü Youtube:  hPp://www.youtube.com/thoodcpa  ü Second  Life  avatar  name:  Rocky  Maddaloni  

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