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Other Comprehensive Basis of Accounting Fundamentals | 4152308D

July 1, 2015
Sacramento Area
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President's Message

Can I Get a Volunteer?

September 10, 2017

By Megan Boldizsar

Can I get a volunteer? The question often causes most people to run in the opposite direction, but not our chapter members. Our chapter will be volunteering Sept. 23 at the water stations at the Up and Running Again 10-mile race in Newport Back Bay. There are still volunteer opportunities to pass out water bottles and cheer on the runners.

Up and Running Again began in 2009, when four accountants decided they could make a difference in the lives of the homeless in Orange County by training the residents to run a half marathon. In February 2010, 13 residents completed the Surf City Half Marathon and changed their lives forever.

As a part of this training the residents consistently claimed that if they could run a half marathon, there should be nothing to stop them from getting a job or reconciling with their family. Roughly 100 runners completed a half marathon last year, and many have gone on to get jobs and move out of homeless shelters. Several participants have gone on to college. Many continue on to run full marathons and become lifelong runners.

This charity is close to our hearts as it was started by Stephen Tierney, our very own chapter past president. We hope to see you there!

Chapter News

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Chapter Board Meeting

Chapter board meetings are held on the second Thursday of the month. Members are always welcome. If you are interested in attending a meeting, please contact program associate Heidi Larkin-Reed.


Fall Seminar Series Sept. 21–Nov. 2

Getting 21 CPE credits has never been easier—or more affordable! Join us for the 31st Annual Fall Seminar Series, beginning Sept. 21 and ending Nov. 2. You’ll get timely information designed to help sole proprietors, associates of small/medium practices and young and emerging professionals. You won’t find a more comprehensive CPE series anywhere! Dinner is included in the price. Don’t miss out on great food and quality CPE.

Cost: $420/members; $700/nonmembers (save $280 when you purchase all seven nights). Dinner and parking are included for all seven nights. 
Note: Fees are non-refundable and contributions or gifts to CalCPA are not tax deductible as charitable contributions for federal income tax purposes. However, they may be deductible under other provisions of the Internal Revenue Code. Please consult your tax adviser. Net proceeds from the event will be used to support accounting students in California.


Interest Group Meetings: Learn and Network with Us!

Sept. 20: Estate Planning: What to Present to the IRS to Support Valuation Discounts

Sept. 20: Forensic Services Interest Group: The Financial Expert—From Retention to the Witness Stand

Sept. 26: International Tax: How to Build a Global Withholding Tax Dashboard

Sept. 28: North OC Discussion Group: Business Continuity and Succession Planning


Other Area Chapter Events

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CalCPA News


Behind the License

We know there’s more to your life than the tax forms, deadlines and rules and regulations that you spend time with at the office. And we want to tell your story—or the story of a member you may know.

Our monthly Final Entry feature in California CPA takes a look at the person behind the license. Over the years we’ve featured members who race carsplay in a banddevote time to nonprofit causeshave taken on physical endurance challengessurfDJ and make wine.

So, what’s your story?

If you’d like to participate or want to recommend a colleague, contact managing editor Damien English with details and we’ll set up a short interview.

Family Law Conference


Sales Tax on Services Legislation Introduced

Tax on services continues to be a topic of discussion in the Legislature. A recently introduced bill, SB 640 (Hertzberg), proposes to enact a sales tax on services—including those provided by CPAs. While the bill does not articulate how such a complex shift in the tax burden would be accomplished, the introduction of this legislation keeps the issue on the radar within the public policy arena—particularly as tax reform conversations heat up.

Similar far-reaching tax on services proposals were introduced in 2015 and 2016 by Sen. Hertzberg, but both bills died in the Legislature when they failed to meet legislative deadlines. These proposal have been characterized as a way to broaden California’s tax base to address a volatile stream of tax revenue. However, the proposal would impose an extremely complex shift in the tax burden to raise billions in new tax revenues.

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Join us at a CPE Weeks destination!
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Fake Assurances: A Case Study with Okorie Ramsey

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Engage in a two-hour case study discussing and reviewing auditor points-of-view from portions of False Assurance—a film by ICEAW. Participants will dive into this case study with Okorie Ramsey, 2017-18 CalCPA Education Foundation Board of Trustees president.

This two-hour session is offered live at CalCPA’s office in Burlingame or via webcast Oct. 11 and Nov. 8.

View the trailer and register »

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Diversity and Inclusion: California Dreamin’ or California Reality

By Soco Davenport

Much has been written about the benefits of a diverse workforce. For example, a survey of 300 senior executives of large corporations by Forbes Insight concluded that a “diverse and inclusive workforce is necessary to drive innovation, foster creativity and guide business strategies.” The report further states how a diverse workforce is “crucial for companies who want to attract and retain top talent.”

And accounting firms and other workplaces in California don’t need to look far to see that diversity. Consider these facts from the Census Bureau:

  • California has more whites, Latinos, Asians and American Indians than any other state.
  • The state’s estimated population of 39.2 million in 2016 was comprised of Latinos (38.9 percent); single-race whites (37.7 percent); Asians (14.8 percent); African American (6.5 percent); and American Indian (1.7 percent).
  • Los Angeles County led the nation in the number of Hispanic, Asian, American Indian and Alaska native owned businesses in 2012. The estimates for the same year indicated that 55 percent of businesses in the county were minority owned.

“Diversity is a business reality and necessary to be effective and competitive in this new global economy,” says Kathy Johnson, 2018-19 CalCPA chair. As CalCPA’s first African American chair, Johnson is embracing her unique position to “inspire young minorities to give them an opportunity to see themselves as a CPA and a leader in the largest state society of CPAs.”

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