CPA CONVERSATIONS PODCAST

The CPA Conversations podcast series focuses on accounting-related news and hot topics.

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Episodes

New A&A Standards for Employee Benefit Plan Auditors

Mar 19, 2018

CPAs auditing employee benefit plans are dealing with a lot of standards, including SAS No. 132 and FASB ASU No. 2017-06. Additionally, the new tax law will affect CPAs working with these plans. JulieAnn Verrekia, CPA, and David Torrillo, CPA, of Torrillo & Associates LLC, provide an update on what auditors can expect. They will speak at greater length on this topic at PICPA’s The Changing Landscape of Employee Benefit Plans Conference on May 1, 2018.

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Analyzing Tax Reform Changes to the Pass-Through Income Deduction

Mar 15, 2018

Among the provisions in the Tax Cuts and Jobs Act are changes to the pass-through income deduction. And they are perhaps the most confusing. Barry Groebel, CPA, tax partner with Herbein + Company in Reading, explains the nuances and exceptions that further complicate pass-through income deductions for businesses.

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Protecting Elderly Clients from Fraud and Abuse

Mar 12, 2018

Talking to an elderly client about their own incapacitation is one of the most difficult conversations a CPA or financial adviser can have. It could also be one of the most important, especially if you are looking to help the client avoid scams that could rob them of their funds. For details on this delicate conversation and why it is so vital, CPA Conversations spoke to Cyndy Hubler, practice lead, compliance education and training, for 1st Global in Dallas, Texas.

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Find the Right Client Fit with a Quality Contact Program

Mar 5, 2018

James Mason, managing director of Mindshop, says the CPA firm that sits around waiting for prospective clients to give them a call off the street is going to struggle in today’s competitive marketplace. That’s where quality contact programs come in. These programs can help you get in touch with potential clients who are the right fit for your firm.

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Pennsylvania Revenue Midyear Projections for the 2017-2018 Fiscal Year

Feb 26, 2018

According to its midyear report, the Independent Fiscal Office (IFO) projects higher revenues for Pennsylvania in 2017-2018 than it had initially predicted in fall 2017. Matt Knittel, director of the IFO, explains why this is the case, where he thinks the state will stand at the end of this fiscal year, and how the new federal tax law could affect Pennsylvania’s economy in the years ahead.

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Accounting Internships Are a Win for Both Students and Schools

Feb 19, 2018

Everyone knows that a prized internship is a benefit to future CPAs, but it is also a win for the college that set such a program up on campus. In a wide-ranging discussion on her spring 2018 Pennsylvania CPA Journal feature with Dee Palaschak, Marge O’Reilly-Allen, associate professor and chair of the accounting department for Rider University in Lawrenceville, N.J., talks about what students hope to get out of an internship, why firms like to set up internships during busy season, and how, for students, meeting a partner is like “meeting Nick Foles.”

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E-filing Now Mandatory for Municipal Authority and Authority Nonprofit Reports

Feb 15, 2018

The Pennsylvania Department of Community and Economic Development (DCED) now requires municipal authorities and authority nonprofits to file their annual reports online. Karen O’Neill, local government policy specialist with the DCED, provides more details on the entities this impacts and e-file instructions. Pam Baker, CPA, managing partner with Barbacane Thornton & Company, provides further perspective on this big change, and highlights the benefits and challenges for CPAs who work with these authorities.

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Tax Cuts and Jobs Act Means Big Changes for Pennsylvania Businesses

Feb 12, 2018

The Tax Cuts and Jobs Act of 2017 brought major changes for the individual taxpayer. Its impact will be just as sizeable on businesses, and those in Pennsylvania are no exception. In a preview of his cover story from the spring 2018 Pennsylvania CPA Journal, Brendan P. Cox, CPA, a partner in the Philadelphia office of EY, looks at the provisions that are most affected by the new legislation and what Pennsylvania businesses need to do to prepare for a newly adjusted landscape.

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What Does the Firm of the Future Look Like?

Feb 8, 2018

So many questions will shape the firm of the future: How important is it for a firm to be active on social media? How can you monetize services that consumers start to expect for free? How soon will it be until routine professional services are fully automated? Get the answers to all of these questions and more in a conversation with Lee Frederiksen, PhD, managing partner of Hinge Marketing

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Communicating with Clients about Tax Reform

Feb 5, 2018

The timing of the passage of the Tax Cuts and Jobs Act has posed challenges to CPAs who were starting to prepare for the upcoming tax filing season of 2017 returns. Clients are asking questions about what tax reform means to them for 2018 and beyond, while their CPAs have not yet closed the books on 2017. Two marketing professionals from large regional firms – Eric Elmore of Drucker & Scaccetti in Philadelphia and Allison Schlegelmilch of RKL in Lancaster – explain how they’re educating clients about tax reform.

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One CPA’s Story of a Tax Season Security Breach

Jan 29, 2018

It’s a major nightmare for CPAs, especially tax practitioners: a hacker gains access to sensitive client data and files fraudulent returns. Susan Jarvis, CPA, gives her first-hand account of what she experienced during the 2016 tax filing season. Jarvis explains her personal story and shares advice with peers on how to best prevent – and cope with – a data breach.

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Pennsylvania’s Sales, Use, and Hotel Occupancy Tax Desk Review Program

Jan 22, 2018

The Pennsylvania Department of Revenue’s Pass-Through Business Office (PTBO) created the Sales, Use, and Hotel Occupancy Tax Desk Review program in 2015. Steve Kinsinger, revenue fiscal analyst supervisor at the PTBO, provides an update on the program and what CPAs need to know about working with the department to address notices on behalf of clients.

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Networking & Mentoring Tips for Future CPA Partners

Jan 18, 2018

The path to CPA partnership includes obtaining a wealth of technical skills, but it also requires an ability to expand the client base. In this edition of CPA Conversations, Donna Massanova, CPA, a partner at Baker Tilly Virchow Krause LLP, practice leader for the employee benefit plans audit service group, and leader of the Philadelphia real estate and construction group, provides tips on networking and mentoring and explains their role in becoming a partner.

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Addressing What’s Most Critical for Clients in Retirement

Jan 15, 2018

“Do I have enough money?” This common question posed by many clients as they approach retirement probably does not shock you. Of course, the answer largely depends on each client’s investment portfolio and savings. Still, CPAs can help assuage their clients’ fears by asking them the right questions. Larry Portnoff, a PICPA member who runs AI Advisor, explains how CPAs should think about their clients’ needs for retirement.

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Is the CGMA the Key to Opening Doors in Business & Industry?

Jan 8, 2018

Much has been made of the importance of acquiring the CPA designation – and rightfully so. But there is another credential that can mean wonders for CPAs in business and industry: the CGMA. On this edition of CPA Conversations, we talk to Jeffrey Mitch, CPA, CGMA, about the value of the credential, why people who question its importance are wrong, and the process for attaining the designation.

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Keeping Up with the Evolution of Audit

Jan 2, 2018

The CPA profession constantly changes, and nothing encapsulates this fact better than the rapid evolution of auditing. What are the primary drivers of this change? How will it benefit audit clients? And what will happen to firms that don’t keep up with developments? Michele Hansen of Deloitte & Touche joins us to help answer these questions and many more.

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Financial Planners: Don’t Overlook Account Titling

Dec 27, 2017

Financial planners do a lot of great and thorough work to ensure future financial success for their clients, but it can be easy to forget about proper account titling. Marsha Rubin, CPA, CFP, of Wharton Investment Consultants, explains how to make sure that this critical component is not forgotten during the planning process, and how financial planners should check on account and asset titling.

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Spreading Awareness of the CPA Credential

Dec 18, 2017

In a podcast dedicated to the work of the new Pennsylvania CPA Foundation, we talked to Kristin Seeger, recruiting manager with Kreischer Miller in Horsham, about how she helps to spread the word about the CPA credential and the benefits it offers to young people as they exit the classroom and enter the workforce. She speaks frankly about some of the concerns students have about the CPA profession and what can be done to address those issues.

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The Technological Evolution of Accounting Education

Dec 11, 2017

In a podcast dedicated in part to the work of the Pennsylvania CPA Foundation, CPA Conversations sits down with Mary Jeanne Welsh, professor of accounting and department chair at La Salle University in Philadelphia, to discuss the ways accounting education has changed in recent years. Among the topics discussed are how systems designed for use with online courses have improved the experience for in-class attendees and the trends on students moving toward online learning.

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What Is PwC Looking for in a New Hire?

Dec 4, 2017

While opinions will vary among CPAs, many see working for a Big 4 firm to be an exciting beginning to their careers in accounting. But what are these firms looking for in an employee? What skill-sets must you have to get your foot in the door. And how important is it to achieve your CPA designation? (Hint: it’s important.) In this episode of CPA Conversations, Deanna Byrne, Philadelphia office managing partner for PwC, answers all of these questions and more.

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