Newsflash - May 19, 2016

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Obama Administration Expands Overtime Pay Eligibility

The Obama administration expanded overtime eligibility for millions of workers, releasing a long-awaited rule change the Labor Department estimates will extend overtime pay to 4.2 million more workers.

The rule increases the salary threshold below which most white-collar, salaried workers are entitled to overtime from the current $455 per week (or $23,660 for a full-year worker) to $913 per week (or $47,476 for a full-year worker).

“If you work more than 40 hours a week, you should get paid for it or get extra time off to spend with your family and loved ones,” said President Barack Obama in a statement Tuesday previewing the announcement. “It’s one of most important steps we're taking to help grow middle-class wages and put $12 billion more dollars in the pockets of hardworking Americans over the next 10 years.”

Click here to read the full article.

Learn everything you need to know to comply with minimal business impact in the FICPA’s one-hour webinar this coming Monday, May 23. Instructor Todd Aidman, Esq. will provide a comprehensive evaluation of how these regulations affect overtime eligibility; the impact and challenges for employers; and the strategies you need to prepare and comply.

Click here to register now.

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AICPA Spring Council 2016 Highlights

This week, FICPA members of the AICPA governing Council joined CPA profession leaders from throughout the country at the Council’s spring meeting. The FICPA delegation included Chair Mia Thomas, President/CEO Deborah Curry, Jeff Barbacci, Abby DuPree, Gary Fracassi, Pat Patterson, Ken Strauss and Alan West. FICPA COO Donna Son also attended.

The two-day meeting focused on business trends, emerging opportunities in technology and how the profession is adapting to an ever-changing marketplace. Curry provided real-time updates via Twitter @CurryFlorida. Here are highlights of the meeting.

1. Technology, Data Analytics and the Professional Accountant
As data becomes more readily available in massive quantities and across all sectors, the challenge is making sense of it all. AICPA Senior Vice President of Management Accounting and Global Markets Arleen Thomas, CPA, CGMA led a panel discussion in which experts described how companies of all sizes can use big data to help drive more informed decision making.

2. The Future of Learning: Progress Toward Achieving our Vision
AICPA Vice President of Member Learning and Competency Clar Rosso gave an update on the AICPA Future of Learning initiative, which aims to increase competency in the profession; promote innovation and experimentation; ignite a passion for learning; and make learning personal. As part of the future of learning, gamification, interactive videos, virtual simulations and 3D tours are being integrated into learning programs, which in turn are being delivered in smaller, more convenient increments.

3. Firms in 2020: Implications on Talent, Services and Delivery
To prepare for the challenges of the future, CPA firms must embrace technology; stay on top of new and emerging trends; seek new and better ways to meet client needs; and work together, according to AICPA Vice President of Firm Services and Global Alliances Mark Koziel, CPA, CGMA. Koziel outlined the ways firms need to consider cultural, talent-related and client-based changes to move toward becoming future-focused firms.

Read more in the Journal of Accountancy story.

4. Women in the Profession: CPA Firm Gender Survey and Mentoring
A coming wave of retirements, a talent shortage and the need for greater organizational perspective all support a need to focus on women in the profession. According to Melissa Hooley, AICPA Women’s Initiatives Executive Committee chair, the profession needs to be promoted in a way that appeals to women and provides them with resources that will encourage success. She also noted the importance of engaging men and women to ensure a robust pipeline and leadership opportunities.

Read more in the Journal of Accountancy.

5. Diversity and Inclusion: The Pipeline and Professional Resources
Rich Caturano, CPA, CGMA, chair of the National Commission on Diversity and Inclusion, and Kim Drumgo, AICPA director of Diversity and Inclusion, outlined ways in which the profession is making great strides in three key areas: students, professionals and companies. Ensuring a diverse pipeline is key to the future of the profession. One such effort to improve diversity and inclusion involves introducing students to accounting while they are still in high school through a partnership with the National Academy Foundation.

6. AICPA Tackles Shifting Tax Landscape
AICPA Vice President of Taxation Edward Karl, CPA, CGMA and Tax Executive Committee Chair Troy Lewis, CPA, CGMA say the tax policy landscape remains dynamic. In outlining key issues and developments practitioners should be aware of, Karl and Lewis described the AICPA’s advocacy efforts related to IRS taxpayer services, identity theft, preparer regulation and international tax reform.

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Watson Appears on Tampa Bay Radio Show

Yesterday, FICPA Market Development Manager Morgan Watson was a guest on “That Business Show with Jamie Meloni,” 1250 WHNZ Tampa Bay. Meloni and Watson discussed ways to guard against tax identity theft, how CPAs assist clients with more than tax preparation, and what sets them apart from other advisors. They also discussed the upcoming FICPA Day of Service, MEGA CPE Conference and Women’s Leadership Summit; the Find a CPA feature for the public on the FICPA website; and how belonging to your professional association can help grow your career.

Watson provided FICPA website and contact information several times during the show. She also encouraged listeners to visit to verify that a CPA is currently licensed.

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2016 National MAP Survey Opens

The 2016 National MAP survey is now in the field. The FICPA and the FICPA MAP Committee encourage Florida CPA firms of all sizes to participate and learn where they stand in relation to their peers.

Sponsored by the AICPA PCPS/, the 2016 survey is the CPA profession’s premier benchmarking study. Key metrics will be organized by firm size and can be used to develop a plan for shifting your firm to the next level.

Upon meeting its participation quota, the FICPA will receive and share Florida-specific survey data. Help us help you. Take the survey today.

Start Survey Now | More information | Quick Start Survey Guide

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Dennis Named Outstanding Discussion Leader

Image: Lynda Dennis, CPA, Ph.D.
Lynda Dennis, CPA, Ph.D.

The AICPA has announced the winners of the 2015 Outstanding Discussion Leader Award. Among them were FICPA member Lynda Dennis, CPA, Ph.D. She is one of 20 discussion leaders who had the highest overall evaluation scores of the AICPA’s teaching faculty for the 2015 CPE year.

“We’re so proud to have one of our members named to this prestigious group of AICPA discussion leaders,” said FICPA President/CEO Deborah Curry, CPA, CGMA. “Lynda travels frequently, and the amount of time she spends away from home reflects her dedication to teaching. We congratulate her on this honor and thank her for serving our profession at the national level by sharing her knowledge and experience with her CPA colleagues.”

Dennis is a certified government finance officer and a full-time lecturer in the Kenneth Dixon School of Accounting at the University of Central Florida. She also is a contract CPE discussion leader and course developer in the areas of accounting and reporting for governmental and not-for-profit organizations. Dennis has served in a financial capacity, including as chief financial officer, in governmental and not-for-profit organizations. She also has worked as an auditor for local and Big 4 firms with an emphasis in the insurance, government and not-for-profit sectors.

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Membership Roundup

Membership Renewal is Open for the Upcoming Membership Year!
On May 18, FICPA membership-renewal statements were emailed, or mailed to those for whom we don’t have current email addresses.

Members may renew online by credit card, print an invoice from their account and mail a check, or call our Member Service Center at (800) 342-3197, Ext. 1. If your membership category has changed, please give us a call.

If your office participates in firm billing, the firm administrator of record will receive one invoice for everyone in your office.

As always, we appreciate your membership and support of the FICPA!

Tweet to Enter Our Monthly Drawing
Tell us why you’re an FICPA member or which benefits you use. Each month, we’ll randomly draw a winner from those who’ve posted a tweet using #FICPAMembers. Thank you to our May sponsor, the AICPA Member Insurance Program.

For more information, click here.

Mentoring Program
Starts in July
Everywhere in Florida

The FICPA Women in Leadership Committee is happy to launch the Mentoring Program as an opportunity for all FICPA Members, regardless of gender. Apply now to be a Mentor or Protégé, and we’ll match you for this one-year “Give and Grow” experience benefiting both partners.

The Mentoring Program requires only 30 minutes of your time each month, but the benefit is everlasting. If you’re a Protégé, you’ll get personalized education – answers to your questions, training and counsel – that empowers your future as a professional. Mentors who provide their service will have the satisfaction of sharing their knowledge, inspiring individual success and giving back to their profession.

To learn more and sign up, click the links below.

Sign Up  | Learn More
Ask Us: Member Services (800) 342-3197 | (850) 224-2727 |

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AICPA Offers Advisory Service Practice Resources

Are you considering an advisory service practice? Many financial professionals are, to meet the growing demand of specialized services in the areas of business valuation, financial forensics, personal financial planning, and information management and technology assurance.

One of the first steps is to develop a solid business plan. And just as important is obtaining a credential in your advisory area. The AICPA offers four credentials – Accredited in Business Valuation (ABV®), Certified in Financial Forensics (CFF®), Certified Information Technology Professional (CITP®) and Personal Financial Specialist (PFS™) – that can start you on the path to adding an advisory service.

Click here to learn more and take the first step.

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Not-for-Profit Organizations Accounting Conference (Up to 16 CPE)
May 26-27, 2016
Ft. Lauderdale, Tampa and Online

NPC CPE Conference

It’s not too late to register for next week’s Not-for-Profit Organizations Accounting Conference (16 CPE) in Ft. Lauderdale and Tampa on Thursday and Friday.

This conference delivers two full days of timely, relevant sessions designed specifically for CPAs working in the nonprofit sector. Our event committee worked hard to secure discussion leaders specializing in nonprofit accounting and management to present topics pertinent to you.

Here are a few discussion leaders you’ll meet during the conference:

Join us next week in Ft. Lauderdale, Tampa or online via the Simulcast to earn up to 16 CPE credit hours!

Register for Ft. Lauderdale | Register for Tampa | Register for Simulcast | View Brochure
Ask Us: Member Services (800) 342-3197 | (850) 224-2727 |

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Mega CPE Conference (Up to 40 CPE)
June 8-11, 2016

Mega CPE Conference

This isn’t just a CPE conference – it’s an experience you and those you bring along won’t soon forget! Start planning your bizcation with Mega CPE Conference before it’s too late.

While enjoying your stay at the beautiful Gaylord Palms Resort, you’ll be less than 10 minutes away from the nearly endless fun of Walt Disney World® Resort. Your conference registration gives you access to specially priced admission, including Park Hopper® Tickets and multi-day options. But don’t wait too long – these special prices expire soon!

Mega doesn’t fall short when it comes to CPE. Meet all your education needs with this event by customizing your agenda from a variety of sessions. Choose the “Mega Buy” during registration for all 32 in-person hours of CPE credit plus eight bonus online hours.

Still not convinced? Download our brochure and see everything this popular destination event has to offer, and join over 500 accounting professionals at the Gaylord Palms this June.

Register Now | Learn More | Download Brochure
Ask Us: Member Services (800) 342-3197 | (850) 224-2727 |

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Women’s Leadership Summit (6 CPE)
June 9, 2016, at Mega CPE Conference

Mega CPE Conference

If you’re looking to grow your network and improve your leadership skills, you’ll love the 2016 Women’s Leadership Summit. Get to know leading ladies from all industries as we dive into our rich agenda.

We’ll begin with the Opening Remarks and Women to Watch Awards Presentation from FICPA Board Chair Mia Thomas. Meet those who are being recognized for leadership excellence in the accounting field and learn how they got there. To give you even more insight on your path to leadership, our agenda includes a panel discussion of women in diverse accounting leadership roles.

Panel Discussion (1B)
Patricia K. Cooper
Whitney K. Schiffer, CPA
Jennifer F. Montero, CPA, CGMA

Don’t miss this panel of successful and prominent women from our profession sharing their personal stories. They’ll discuss the unique challenges women face and focus on the strengths they brought to leadership roles. The panel will provide insight to women beginning their careers and highlight the changing business environment.

We hope to see you this June! Click below to learn more and see everything we have in store for you.

Register Now | Learn More | Download Brochure
Ask Us: Member Services (800) 342-3197 | (850) 224-2727 |

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Tech Tip
Free Up Drive Space on Windows 10 PCs

Now that spring is here, it’s a good time to think about cleaning up your Windows computer. If you’re running Windows 10 and are low on space, here are some ways you can reclaim it.

Delete Old Windows Installs
If you upgraded from Windows 7 to Windows 10 on an older PC and your hard drive is almost full, you can reclaim gigabytes of space by deleting the Windows.old folder. Remember, if you upgrade to Windows 10, you have 30 days to roll back to the previous version. So, if that’s a concern, don’t be too hasty in getting rid of it.

Delete Apps You No Longer Need
All of us are guilty of this on our mobile devices – we download apps, use them a few times and forget about them. The same happens with your PC. Getting rid of apps you never use can clear up space.

In Windows 10, you can uninstall traditional desktop programs and Windows Store apps. To do so, head to Settings > System > Apps & Features. Windows 10 lists the apps in alphabetical order and shows their size.

Click on each of the apps you no longer use and select Uninstall and confirm. If it’s a Windows Store app, it will uninstall just like on your mobile device. Traditional desktop apps still will take you through the uninstall wizard.

You can uninstall the Windows 10 apps that came preinstalled, such as the Weather or Sports apps. However, not all of them will leave willingly. Take the Mail and Calendar app as an example. It’s pretty well baked into Windows 10, but you can use a utility such as CCleaner to get rid of them.

Clean Up File History Versions
This one is aimed at your external drive and not local disk, but still worth reviewing.

File History is a built-in tool introduced in Windows 8. It allows you to recover files you might accidentally have deleted, or to restore a modified document to an earlier version. It’s essentially like Apple’s Time Machine in OS X, but for Windows.

If you have it turned on and are running out of external storage space, you can clean up old versions. While you can manage File History a bit in the Settings app, going to the traditional Control Panel is your best bet.

Hit Windows Key + X on your keyboard to bring up the hidden power user menu and select Control Panel > File History > Advanced Settings. From there click the Clean up versions link. Then you can choose how far back you want to delete the versions. You can delete files up to two years old, or everything but the most recent.

Delete Old Restore Points
This tip isn’t new to Windows 10. You could do this back in XP, but it’s still valid and worth a look. If you have enabled System Restore in Windows 10, you might want to delete a few of the earlier points to gain drive space.

More on Reclaiming Drive Space in Windows 10
 Here are some other ways to free up disk space:

  • A good way to avoid running out of disk space is to store more of your data in the cloud, using services such as OneDrive, Dropbox and Google Drive. That gives you more open storage on your local disks and allows you to access files from anyplace with an Internet connection.

To read the full article with images, click here. For more information and to view an archive of previous Tech Tips, please visit us here.

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In Memoriam

David Wayne Cash – April 1, 2016
Glenn McLeod – May 1, 2016

Look for the next issue of FICPA NewsFlash June 2, 2016.

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