Inland Empire Chapter
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Archive for the ‘President’s Message’ Category
March 1st, 2009
By Mark Erickson, CPA
So are there current opportunities in the market? One thing history teaches is that it consistently repeats itself. We are also told that the best opportunities surface when most investors are bearish. Many experts expect a rebound to occur later this year or perhaps next. So what does all this mean? One thing is clear – we have seen significant declines in most markets and history has consistently shown us that what goes down will eventually go up. Does this mean there are bargains? You decide. Better yet, contact one of the many talented personal financial specialists (PFS) who are members of CalCPA—they are much better than I at guiding you in these volatile times. Click here for more information.
The chapter’s January 4X2-hour event was a great success. There were positive comments from the attendees on the new format that provided four two-hour sessions on a variety of subjects. As a reminder, these events are available as podcasts on our website. January also included our winter CalCPA Council meeting and CPA Day at the Capitol. Be sure to read the articles below that summarize these two important events—and a big thank you to second vice president Johanna Sweaney Salt and past president Scott Hofferber for their attendance at these events and their valuable insights in these articles.
We began February with a young and emerging professionals event, which included a presentation by a representative from Toastmasters who provided valuable tips and recommendations on public speaking to several emerging leaders. Congratulations to co-chairs Ted Collins and Patrick Cabildo on facilitating this exciting event.
I am excited to remind you about our March 18 social at Dave & Buster’s, but sad that this will be the last social for my term as president. I encourage you to join me and other chapter leaders in this important networking opportunity and have a great time in the process. These events have been selling out, so register soon.
I have been so blessed to work with such a dedicated and talented group of chapter leaders and to have the most skilled program associate in Monica Thompson. They have all made our events this year a success and have increased the value of membership to our local members. Take the opportunity to get involved. You will not regret your decision.
Respectfully,
Mark Erickson, CPA
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February 2nd, 2009
By Mark Erickson, CPA
Was there abundance in 2008? Anything but, right? Maybe not. There were significant reductions in monetary net worth during the year for most people—real estate, stocks, etc. And yes, for many nearing retirement, plans had to be altered, and for some in retirement, budgets had to be streamlined.
But when we examine “abundance” in our lives shouldn’t the scope of our assessment go beyond monetary considerations? Didn’t our abundant freedoms remain intact? Did we ever go hungry? Did the spiraling economy steal the precious moments we had with family and friends? In 2008 either our health was good or there were abundant resources available to address our medical needs. More than 90 percent of us have jobs. Have you stopped to look at the snow-covered peaks this winter? Weren’t there abundant opportunities to help others and in doing so, didn’t we experience an abundance of joy? Indeed, there was abundance in 2008!
Over the next couple weeks (but before this article is published) the Inland Empire will have hosted its first 4 X 2-hour chapter event and I will have participated in our winter Council meeting and CPA Day at the Capitol. I am hopeful many of you were able to attend the 4 X 2-hour event. As I write this, I am excited about and look forward to CPA Day. We will be educating legislators primarily on the need to mandate the 150-hour requirement for licensure. California is one of only four states that have not enacted a mandatory 150-requirement for licensure. We stand to be severely impacted by not being a substantially equivalent state. Read more here. CalCPA staff and volunteers have met with several legislators at their district sites and will continue to meet with those who have not yet been visited. Please consider volunteering for this important advocacy effort. Find more details on how you can participate.
Please be reminded that the chapter is posting its chapter meetings as podcasts on our website. Our October State of the Profession meeting, our December tax meeting and our January 4 X 2-hour events are now posted. These podcast are available to members only, so a membership password is necessary to gain access.
And one more time! Our last Inland Empire Guest Social is scheduled for Wednesday, March 18 at Dave & Buster’s in Ontario. Please join us for a mid-tax season or pre-finals break. For those who haven’t attended, this is a great opportunity to network and rub shoulders in a very casual environment. I promise a good time.
So let’s proceed into 2009 with grateful hearts over the true abundance in our lives, never forgetting to help the less fortunate, so that we can experience the blessing that can only come from lifting others up.
Respectfully,
Mark Erickson, CPA
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January 1st, 2009
By Mark Erickson, CPA
Happy New Year! I hope your holiday celebration was enjoyable and rewarding. Some of us will now go through the exercise of committing ourselves to a new year’s resolution. Good idea, however, to make optimum decisions about the future, we must first look back. Where did we invest time, our most valuable commodity? Did we appropriately allocate our time to our careers, our education, our fitness programs, our recreation, our volunteer activities and most importantly, our relationships? Most of us do OK on the first two—career and education—but how are we doing on the others, in particular, our relationships?
My pastor has been with many people on their deathbeds when the most intimate of conversations occur. As these people assess their lives, he explains that their biggest regrets are always not spending more time with their families and friends. Unfortunately, there is no do-over when we get to this place. So, as you look back to assess last year and make necessary adjustments to your schedules this year, put a high priority on your relationships. It will always yield the greatest return.
I just came from our Dec. 9 annual tax meeting where Shannon Carlson of Ahern Adcock Devlin, LLP delivered an update on the multitude of tax legislation impacting tax practitioners this year, as well as a detailed look at like-kind exchanges. The presentation was audio recorded and will soon be posted to the Inland Empire website as a podcast. As a reminder, a podcast of our state of the profession event is available on our chapter’s website now.
I want to remind you of and encourage your participation in our in our Jan. 14 4 X 2 chapter event. This will be a new format that provides four two-hour sessions for a total of eight hours of continuing education. The program will include sessions on international accounting standards (IFRS), XBRL reporting, banking and credit market changes, and a compilation and review update. Come find out how and why IFRS and XBRL will impact business as usual. All four sessions are available for only $196 for members. Don’t miss this great value. (Note: you need to register for each session separately)
Please keep in mind that the Inland Empire leadership team is at your disposal if you have questions, concerns or recommendations.
I wish you a prosperous and successful new year, a year that will yield fruit that brings contentment to your soul.
Respectfully,
— Mark Erickson, CPA
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November 19th, 2008
By Mark Erickson, CPA
February through April, right? For some, yes, but let’s talk about December. December, for many of us, is supposed to be down time. Yeah, right! Unfortunately, it is anything but that. The shopping, the parties and the holiday activities fill our calendars. We get to New Year’s Day and we’re exhausted! My advice—slow down! Be intentional about investing time in your family and friends and cut out some of the activities that don’t accomplish this. This is what creates coveted memories, not the other stuff. May your celebration be one that bonds hearts and builds relationships.
October was a busy month for the chapter. The month started with a tremendously successful Young and Emerging Professionals Seminar, which I wrote to you about in the November president’s message. At the end of the month we hosted our first State of the Profession meeting. As I mentioned, we were privileged to have two men who are consistently in the trenches in Sacramento: Don Driftmier, president of the California Board of Accountancy, and Bruce Allen, CalCPA’s director of government relations. The discussion was fascinating and informative. The podcast is available for CalCPA members on the Inland Empire website. Lastly, Johanna Sweaney Salt continued her MAP interest group with a book study of “Managing the Professional Service Firm” by David H. Maister. There has been very positive feedback from this group.
This past week I participated in the CalCPA Finance Committee and Council meetings. The council meeting placed a great deal of emphasis on upcoming legislative issues on the calendar in 2009. Legislation on mobility and the 150-hour requirement, to name a couple, will most likely be introduced and voted on by our representatives in Sacramento. These key pieces of legislation are critical for California CPAs to remain competitive with our counterparts in other states. There is a tremendous amount at stake and if you are unfamiliar with the issues, I urge you to review this article online and educate yourself on these very important issues, and review other mobility material on the CalCPA website.
Our annual tax meeting is scheduled for Dec. 9, 12:30–4:30 p.m., and will be held at the Mission Inn in Riverside. Click here for details. Remember, too, that we will host a 4 X 2-hour event in January that will include such content as IFRS and XBRL. You will be able to attend all four classes for only $195. This is a great value that you shouldn’t miss.
Remember to slow down and celebrate the reason for the season with those you hold dear. Your memories are depending on it.
Respectfully,
— Mark Erickson, CPA
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October 17th, 2008
By Mark Erickson, CPA
With the progressive sophistication of contracts and the ongoing expansion of legal frameworks, is the exercise of integrity even necessary in our business relationships? Doesn’t the contract or law itself ensure integrity? And, if certain elements are absent, aren’t we at liberty to act in our best interests?
Yes, no and no. True integrity has always been based on a covenant—not contractual—relationship with our business partners. Contracts guide us to act in a way that doesn’t violate the contract. A covenant relationship, though, demands that we always act in the best interest of our business partner despite the contract. Hence, this may lead to outcomes that are not in our best interest—at least temporarily.
Trust strengthens relationships and a covenant mentality always builds trust. So do we make a buck today or build a relationship that lasts a lifetime? Which is more profitable?
Many understand this and many do not. I’m not sure why this is the case, but it is clear there are many factors that shape a person’s motives. I am sure that the environment in which we are raised has a significant impact. So what can we, as individuals, do? The obvious: insist on an environment where our own families and business associates see us operating with integrity at all times and in all things.
Next, take the opportunity to speak to an impressionable audience at a high school or a college through one of the many exciting programs supported by CalCPA. Integrity should always be woven into your presentation and should be central to who we are and what we do as CPAs. It should always be a banner that we are proud to wave.
I know that, for the most part, I am preaching to the choir. I have many close friends in the profession and I am awed by their unwavering integrity. Hopefully, for some, it can at least be a point of reflection. I know it is for me as I face daily ethical challenges. So I challenge you to do what is right, not to exercise your rights.
I want to conclude my message by echoing a big thank you to the many who made our Young and Emerging Professionals Seminar a great success. Every session was filled with valuable insights that were evidenced by a plethora of glowing remarks. It was again a multi-chapter effort: Brett Stubbs and Loni Ang from the Los Angeles Chapter and Rick Rayson from the Orange County/Long Beach Chapter provided priceless, career-enhancing information to our participants. And, I want to extend a big thank you to Don Driftmier, president of the California Board of Accountancy, for sharing the very important changes impacting our profession and other thought-provoking ideas and concepts. And last, thank you to Inland Empire members who provided the bulk of the support for the event: Rod LeMond, Barbara Bowlby, Evan Strano, Johanna Sweaney Salt, Ernie Cooper, Brent Mason, Ginger Simonton and the one who worked the hardest, Monica Thompson.
Integrity: In their best interests.
Respectfully,
— Mark Erickson, CPA
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September 16th, 2008
By Mark Erickson, CPA
I don’t think so. The more time I spend in my professional endeavors—career and volunteer activities—the more I recognize the value of networking. Many of the very successful people I’ve had the privilege to meet concur. I recently had breakfast with a friend whose name I will keep anonymous, but you would recognize. He talked about how involved he was in CalCPA functions for the majority of his career and how, through those networking opportunities, he developed relationships that later led to mergers that were very advantages to his firm.
One personal example I’ll share is that my long-term involvement with the Inland Empire Chapter helped me develop a relationship with another long-term board member, Barbara Bowlby, who works for Robert Half International. It was Barbara who placed me in my current position as CFO of the United Way of the Inland Valleys and had previously placed me in my first post-public accounting position. I could share numerous other examples of beneficial relationships that I developed during my involvement with CalCPA, but I will save those for another time.
One of the things I am pursuing as chapter president is to connect with our neighboring chapters—Los Angeles and Orange County/Long Beach—and develop and nurture those relationships. I was very fortunate to be able to attend Los Angeles Chapter’s last networking event and deem my experience at the event to be extremely valuable. I am planning on attending subsequent networking events with Los Angeles and Orange County/Long Beach chapters. And members of our neighboring chapters accepted my invitation to our events, including our Sept. 17 Chapter Member Guest Social.
Networking with our neighboring chapters has borne fruit on many occasions for our chapter. Many of the gifted speakers that will appear at Inland Empire events this year come from the adjacent chapters. I would be amiss if I didn’t say thank you to Loni Ang of the Los Angeles Chapter for everything she’s done for our chapter this year.
Please remember our Young & Emerging Professionals Seminar Friday, Oct. 10 at the Doubletree in Ontario from 2–7 p.m. This is a first for the Inland Empire Chapter and will resemble the CalCPA Young & Emerging Professionals Conference. This is a “must attend” seminar for students pursuing careers in public accounting and accounting professionals in their first five years. Register for the event online.
If you are a CPA or a candidate for licensure, you will not want to miss our State of the Profession meeting Wednesday, Oct. 29 at the Magic Lamp in Rancho Cucamonga. As I’ve mentioned, we are extremely privileged to have both Don Driftmier, president of the California Board of Accountancy, and Bruce Allen, CalCPA’s director of government relations, present this discussion. You can register online.
Networking. A waste of time? No. An invaluable investment of time.
Respectfully,
— Mark Erickson, CPA
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August 20th, 2008
By Mark Erickson, CPA
As I prepare to write each President’s Message, I reflect on content that I hope is valuable to you. I know your time is precious, and I want to honor your sacrifice of it to read these messages. This month I want to introduce you to and recognize the selfless efforts of the chapter’s leadership team. Because these talented volunteers are passionate about our profession and genuinely concerned about chapter members, they consistently sacrifice their time and talents to bring you the valuable programs we make available.
In the June President’s Message I introduced the senior leadership team—the past president, the first and second vice presidents, the treasurer and the secretary. The chapter also has five directors who round out the voting members: Barbara Bowlby, Patrick Cabildo, Ted Collins, Kathryn Johnson and Tracy Wirtes. Many of the directors also serve as chapter committee chairs. The committee chairs are Janet Courts (Accounting Education); Jessie Powell (Accounting Principles & Auditing Standards and Governmental Accounting & Auditing); Kathryn Johnson (Business & Industry and Sponsorships); Richard Savich (CPA Golf Tournament); Tracy Wirtes (Financial Literacy); Ted Collins (Litigation Consulting and co-chair of Young & Emerging Professionals); Johanna Sweaney Salt (Management of an Accounting Practice); Matthew Wilson (Nonprofit); Alex Lemos (Personal Financial Planning); Laurie Mitchell (Scholarships); Brett Telford (Student Representative); Andrew Steinke (Taxation); and Patrick Cabildo (Young & Emerging Professionals co-chair).
Each of these volunteers is available as a resource to you if you have questions, concerns or recommendations in any of their respective content areas or roles. Don’t hesitate to take advantage of this great member benefit. The chapter’s webpage has contact information for each team member. I want to take this opportunity to commend this year’s team for its dedicated and unwavering service to chapter members. Thank you! And I encourage you, the recipients of the team’s hard work, to share your appreciation as well.
I want to quickly revisit the upcoming September and October events. The chapter will host a chapter event on Peer Review Tuesday, Sept. 23, 3:30–7:30 p.m., at the Canyon Crest Country Club in Riverside. This is a “should-not-miss” presentation for anyone in public practice. The event also will be available as a webcast. Register online for live event and register online for webcast.
There are two events in October. The first is the Young & Emerging Professionals Conference, Friday, Oct. 10. A first for the chapter, this event will resemble the CalCPA Young and Emerging Professionals Conference. This is a “must-attend” conference for students pursuing careers in public accounting and for accounting professionals in their first five years.
The second event in October is a State of the Profession discussion Wednesday, Oct. 29. We are privileged to have Don Driftmier, president of the California Board of Accountancy, and Bruce Allen, CalCPA’s director of government relations, as our featured speakers. Cataclysmic changes are impacting our profession, so don’t miss this opportunity to get an update from those who serve on the front lines.
I again want to recognize the incredible work of the chapter’s leadership team. I am honored to be able to work alongside of them in a collective effort to expand the chapter’s value to our local members.
— Mark Erickson, CPA
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July 14th, 2008
By Mark Erickson, CPA
As I reflected on my pastor’s message about being grateful for all that we have in this country relative to so many in the world who have so little, I became very thankful for my association with a profession that is honored and respected. We have made significant strides since the beginning of this decade when a handful of bad decisions battered the public’s—and our own—perception of our profession.
According to a 2006 Harris Poll, accountants received the largest increase in the percentage of U.S. adults who trust that they tell the truth—up 13 percentage points from 55 percent in 2002 to 68 percent in 2006. Another 2006 Harris poll indicates that 86 percent of U.S. adults consider accountants their trusted business adviser. I am confident that if the poll asked people to rate “CPAs” on trust, the percentage would have been even higher. I am proud to be a member of this profession and am grateful for the decades of contributions that have defined what we represent today.
CalCPA’s Annual Members Business Meeting and CalCPA Council took place June 26–28. It was a great opportunity to meet my peers from around the state and reconnect with CalCPA staff. At the business meeting, we were provided with a summary of 2007–08 accomplishments by outgoing CalCPA Chair Teresa Mason and were given plans for the 2008–09 year by incoming Chair Greg Burke. I congratulate Teresa and her leadership team for their many accomplishments and am excited about the initiatives introduced by Greg.
The Council meeting provided updates on several important issues, some of which will dramatically change the way we do business. They included an update on XBRL from Mike Willis, trustee of XBRL International; a legislative update by Conrad Davis, CalCPA Government Relations chair; the Audit Committee Report by Jacques Welche, CalCPA Audit Committee chair; an update from the Facilities Task Force, which is assigned the responsibility to identify the best sites for the relocation of CalCPA headquarters in 2010; and finally, a comprehensive update on the state of the profession from Barry Melacon, AICPA president and CEO. Barry’s presentation included updates on IFRS, XBRL, education trends (including the shortage of Ph.D. accounting educators), private-company GAAP, audit quality, mobility, MAP and financial literacy. It was fascinating to hear these updates from someone who is on the cutting-edge of each of these important issues.
One of the Inland Empire Chapter’s goals this year is to enhance opportunities for young and emerging professionals. I am excited to announce that the Inland Empire Chapter will host a Young & Emerging Professionals conference as one avenue to accomplish this goal. The conference has been scheduled for Friday, Oct. 10 from 2–6 p.m. at the Doubletree Hotel in Ontario. The conference will include separate tracks for the first two hours—one for students and one for working professionals—followed by a joint session. The event will conclude with a mixer giving the working professionals a chance to share their experiences with the students and for all participants to ask the presenters additional questions. We have designed our content from surveying students, faculty and CPA firms to enable us to provide relevant and helpful information. The conference also will include our annual scholarship award presentations. I strongly encourage you to join us for this event. You can register at the Inland Empire Chapter website: http://www.calcpa.org/Content/chapters/ie.aspx .
I am grateful for the opportunity to serve you and covet your ideas and suggestions. Please do not hesitate to contact me or the Inland Empire Chapter leadership team.
—Mark Erickson, CPA
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June 18th, 2008
By Mark Erickson, CPA
Summer is here, and for many it is time to take a vacation. Whether you plan your vacation around the traditional summer months or at some other time during the year, I encourage you to schedule a time for rest and reflection. Our schedules never seem to decelerate, so an intentional plan to get away is critical to every aspect of our well being. Clearing our heads helps us to purge the noise and reassess our goals and priorities. Please carve out this important time for you and your families.
Since I wrote the June “President’s Message,” three important events transpired: the CalCPA Shootout, the Inland Empire Chapter installation, and our annual leadership retreat. The golf tournament took place Monday, May 19, and was a huge success, thanks to the hard work of our golf chair, Dick Savich, the committee he assembled, and, of course, Monica Thompson, our program associate. Please refer to the accompanying article to learn more about many of the highlights of this exciting event.
The chapter’s installation dinner was held at Fleming’s Steak House Friday, May 30. At this event, we had the opportunity to praise the outgoing leadership team that gave their time and resources to support chapter activities in the year just concluded. We also introduced the gifted incoming leadership team that I am privileged to be part of. We were honored that Don Driftmier, California Board of Accountancy president, joined us for the dinner portion of the evening.
The third event was our annual leadership retreat, which we held at the Lake Arrowhead Resort Friday, June 6. This is a favored venue for our annual retreat, because it provides a peaceful and serene atmosphere that allows uninterrupted focus on chapter activities that will expand the value of CalCPA membership. Part of our agenda required us to solidify our exciting chapter meeting schedule for the year. Below I highlight two upcoming meetings that you won’t want to miss.
The first is our Sept. 23 meeting at the Canyon Crest Country Club in Riverside from 3:30–7:30 p.m.. Linda McCrone, CalCPA’s director of technical services, will join Suzanne Heidenreich, a member of the CalCPA Peer Review Committee, to provide us with an update regarding implementation issues for the new suite of Auditing Standards (104 through 111) as they have arisen during the first peer reviews to cover these standards. I am proud to announce that the Inland Empire Chapter will be the first chapter to offer a chapter meeting as a webcast. Yes, you may attend the event as usual at the Canyon Crest Country Club to take advantage of the always-important networking opportunities, but the webcast will allow those who cannot attend the event to both participate in this important update and receive continuing education credit. Be sure to register soon, as the event is sure to sell out.
The second event is our Oct. 29 meeting at the Magic Lamp in Rancho Cucamonga from 3:30–7:30 p.m.. We are privileged to have Don Driftmier, California Board of Accountancy president, and Bruce Allen, CalCPA government relations division director, present a “State of the Profession” update and cover many important issues that will impact the future of our profession, which, in turn, will impact all of us at some level. This is another event you will not want to miss.
I’ve highlighted only two of many exciting events coming your way this year. Be sure to check out all our Inland Empire Chapter events at www.calcpa.org/ie to get the latest information on our activities or to register for an event.
CalCPA’s annual meeting is scheduled for June 27–28 and will have concluded by the time this newsletter is published. I look forward to meeting with colleagues from around the state to discover ways that we can collectively expand value to our members. I will share meeting highlights in my next article.
Lastly, be sure to check out the latest edition of California CPA (June 2008), as our own Lynette Atchley, Inland Empire Chapter treasurer, is featured on the cover. Lynette provides some valuable insights on sole proprietorship. Until next time, I again encourage you to consider taking some extended vacation time to pause and recharge.
—Mark Erickson, CPA
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