The Ledger 
 
page 1GWSCPA E-newsletter   
July 2010
   
 
volume 2, issue 7
In This Issue
What's new at GWSCPA?
Upcoming events
The Profession
Member News
Quick Links
 
 
Join Our Mailing List
 
 
 
 

FY11 Board of Governors
 
 
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Daniel Black, CPA President
Daniel Black & Assoc.
 
 
Stanley Berman, CPA
 Vice-President
Global Impact
 
 
Abdool Akhran, CPA
Treasurer
Bert Smith & Co.
 
 Hillary Coley, CPA
Secretary
Trout Unlimited
 
John D. Griffin, CPA
Immediate Past President
AARP
 
 
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Christine Colburn, CPA
Payroll Network 
 
 
Kenneth Emson, CPA
Community Foundation for the National Capital Region 
 
 
Brenda Hargett, CPA
American Academy of Otolaryngology 
 
Malcolm Karl, CAE 
National Association of College Stores
 
 
Andrew Lang, CPA
LangCPA Consulting, LLC 
 
 
Mark Lobel, CPA
 Quinn, Lobel & Assoc., P. C. 
 
 
Sue Marcum, CPA
American University
 
 
R. Michael Sorrells, CPA
BDO Seidman 
 
 
Jacqueline Bryant, CPA
Tate & Tryon CPAs
 

Joseph S. Drew, Ph.D.
University of Virginia 

William Eisig, CPA
BDO Seidman
 

Daniel  Lynch
KForce Professional Staffing
 
Uzma Malik-Dorman,CPA
Thompson Cobb Bazilio
 

John Wooldridge, CPA
Larson Allen LLP
 
Colleen Smith, CPA
National Geographic Society
 
Jenny Herrera, CPA
Rubino & McGeehin, Chtd
                                  
Deborah Nixon, CPA
Ernst & Young LLP
 

Dear   Friends,

We have just begun our new Fiscal Year, while my staff is hard at work behind the scenes processing annual dues renewals (Have you renewed your dues yet?) I sat down to think about what themes were common throughout the past year, all our current activities and our future plans.  What stood out to me was the idea of emergence.I see the Society taking a new place of prominence in this community after 87 years as a strong institution representing CPA interests in our nation's capital, but I also see the emergence of a new beginning.  We have a brand new Society coming into being-one which can retain the best of our history while looking to the future, one which anticipates all the opportunity and responsibility before us.
 
With record numbers of new members this past year, we are seeing the emergence of new leaders and new voices. The Society's busy calendar of educational and new social events has led to our becoming the place for CPAs and financial professionals to connect. And the Society continues to develop new interest areas to meet the needs of, and highlight the expertise of, our members.
 
In a few paragraphs, I cannot possibly count all the ways the GWSCPA is working toward our vision-To be the premier accounting membership organization for the CPA profession in the greater Washington DC area.We're well on our way to getting there already, with the emergence of new programs, new ideas and new energy. I know that you don't want to be left behind and I hope that you will renew your commitment to us as we rise to claim our place in this profession-for you. 
 
 
Sincerely,
 
Kari Bedell
Executive Director
 

 
 
What's new at GWSCPA  
 
 
GWSCPA 87th Annual Meeting

At our Annual Meeting in June, the GWSCPA presented some much deserved awards to members who have made a significant difference to the Society during this past year. 
 
Dispenza
John Griffin presents Sara Dispenza with the President's Award
 page 1
Our Young and Emerging Accountants received the Impact Award
(Pictured l to r, Billy Thomas, Monica Gould, Sarah Blake, Kevin Gerrity and John Griffin)
page 1
Rubino & McGheein received the Firm of the Year Award
(John Griffin and Patty O'Malley)
page 1
John Griffin presents Charlie Tate with the 2010 Champion Award
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GWSCPA Transitions
The GWSCPA is excited to welcome Ashley Worthington as our new Finance and Administrative Assistant.  She's the cheery voice you'll be hearing when you call our offices.  Ashley comes to us from the Stimson Center, a think tank in Washington, DC, and is excited to be working at the GWSCPA.
 
Worthington
 
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GWSCPA Partners with LTC Global for member discounts
The GWSCPA has recently begun a partnership with LTC Global.  This partnership allows our members to take advantage of discounts on Long Term Care packages.  Call 1-888-305-4582 for more info.

 
  
Upcoming events
 
 
July Free Member CPE
Helping Clients with Succession Planning 
Wednesday, July 21, 2010
9:00am-11:00am
GWSCPA Offices
REGISTER
 
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Regular Committee meetings
(Please rsvp so we can plan for refreshments and space) 

Tax Committee
Extenders Bill 
Next meeting date TBD
 
YEA (Young Emerging Accountants) Committee
Networking Night and CPE presentation:
Business Development-You're a Natural 
Thursday July 15, 2010 - 6:00 PM
GWSCPA offices
  
Government Contracting Committee
Friday, July 23, 2010 8-10 AM
Tower Club * Tyson's Corner
Breakfast and CPE presentation: Contract Close Outs 
REGISTER

Not-for-Profit Committee
Tuesday June 27- 8:30-9:30 AM
Citibank Offices 1101 Penn Ave, NW 
Breakfast and CPE presentation: Risk Management 
If new to committee, rsvp to lklumpp@bdo.com  

The Profession

GASB Posts Aids to Understanding Pension PV
The GASB issued a Preliminary Views, Pension Accounting and Financial Reporting by Employers, on June 16. To help readers understand this document and the accompanying plain-language supplement, the GASB has posted a number of materials to its website, www.gasb.org, including a video, fact sheet, and a plain-language article.

Bylaw Amendment for the AICPA

For those of you who are members of the AICPA, we want to remind you to vote on their upcoming bylaw changes.  The proposed amendment is about changing the requirements to become a member of the organization.  For details, consult their webpage.

Institute of Management Accountants (IMA) releases salary survey
Professionals holding the Certified Management Accountant (CMAŽ) certification reported earning 22 percent more in average salary ($106,713 versus $87,165) and 25 percent more in average total annual compensation ($124,346 versus $99,441) than their noncertified counterparts, according to the Institute of Management Accountants (IMAŽ) 21st Annual Salary Survey. These and additional findings appear in the June 2010 issue of IMA's Strategic Finance magazine.

Regulatory and Legislative News


Supreme Court Decision on PCAOB
The United States Supreme Court issued a ruling on June 28th, 2010 that only a small part of the Sarbanes-Oxley act is unconstitutional.  The unconstitutional provision of SOX is specifically about the ways a PCAOB appointee can be removed from the board, because it violates the appointment clause of the Constitution.  The Supreme Court went on to say that SOX "remains fully operational"



Supreme Court Issues Ruling in Bilski case
The Supreme court also issued a ruling in the Bilski vs. Kappos case.  This case was about whether or not "business methods" could be patented.  The CPA profession kept a watchful eye on it because of its ties to our work on tax strategy patents.  The ruling does not prohibit business methods from being patented. 
 
Barry Melancon, AICPA President and CEO, said of the case:
"Today's Supreme Court decision in Bilski v. Kappos, while striking down a particular business method patent, does not stop the U.S. Patent and Trademark Office from continuing to issue tax strategy patents and the AICPA renews its call on Congress to act quickly to pass legislation to ban tax strategy patents. The AICPA believes that no one should have a monopoly on compliance with the tax code. Taxpayers should not have to face the threat of royalties or lawsuits from holders of tax strategy patents and no one should have to pay more tax than he or she lawfully owes because someone else purports to hold a patent on tax planning. "


Member News 
 
 
The Center for Nonprofit Advancement selected Global Impact as the 2010 Honorable Mention recipient of The Washington Post Award for Excellence in Nonprofit Management.  GWSCPA Board Vice-President, Stan Berman is the CFO of Global Impact. 

GWSCPA Financial Service Member, Payroll Network welcomes Pete Clarke as an Account Manager to their Account Installation and Management team.

Kenneth Euwema, VP-Membership Accountability, United Way Worldwide, and GWSCPA member has been appointed to the new FASB Not-For-Profit Advisory Committee (NAC).
 
 
Marc Filer 
Marc Filer, CPA /ABV, CFE has been selected as one of only 25 participants nationally for the 2010 AICPA Leadership Academy. Marc moved to the area from Cleveland about 18 months ago and specializes in forensic litigation support in PWC's Tyson's' Corner offices. He is a recent addition to the GWSCPA's YEA Committee and the VSCPA, remains an active member of the Ohio CPA Society and is part of the AICPA's Accredited in Business Valuation (ABV) Credential Committee.
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If you have member news, email us by the first of the month.
 
 
For future issues, if you have a topic you'd like to see highlighted, or have an idea for a feature article you'd like to contribute, let us know.