90th Annual Meeting

90th Annual Meeting—Are You Ready for IFRS?

The growing acceptance of International Financial Reporting Standards (IFRS) as a basis for U.S. financial reporting represents a fundamental change for the U.S. accounting profession. Today approximately 113 countries require or allow the use of IFRS for the preparation of financial statements by publicly held companies. In the United States, the Securities and Exchange Commission (SEC) has been taking steps to set a date to allow U.S. public companies to use IFRS, and perhaps make its adoption mandatory. In fact, on November 14, 2008, the SEC released for public comment a proposed roadmap with a timeline and key milestones for adopting IFRS beginning in 2014.

Other topics include Excel Data Analysis and Financial Reporting, Tax Implications of the Obama Administration and A&A Update.

Join other Young CPAs in learning How to Generate Generational Momentum with Melissa Laughon from Catch Your Limit consulting.

Educators don't miss this opportunity to discuss the incorporation of IFRS into accounting curricula as well as other topics during this special Educators Conference.

The festivities begin at 7:00am with the Chairman's breakfast. Space is filling up—Register Now!

We Moved!

Thanks for your patience as we get settled into our new office!

We all survived the move, but we're still transitioning to a new phone system and a new server. Thank you for your understanding during this process.

You can still reach us by phone at (334) 834-7650, but please note the change in both our physical and mailing addresses:

Women's Summit

Climbing the Corporate Ladder in Heels?

May 21, 2009

4 hours Other CPE
Wynfrey Hotel—Birmingham

Click here for more information

Leave the boys at the office and attend our 2009 Women's Summit to meet other ladies who have climbed to the top successfully. Join professional women from all over the state to learn the secrets of their success.

• Denise Ryan Leadership Lessons from the Kings of Chocolate

• Luncheon & Fashion Show with Keynote by Phyllis Hoffman, CPA of Hoffman Media

• Misean Reed from the AICPA—Trends in Human Capital: Women in the Profession

•Leah Dubberly, CFP, Merrill Lynch—Financial Planning for Women

Legislative e-Zine

Legislative e-Zine

by Bruce P. Ely, James E. Long, Jr., William T. Thistle, II

April 28, 2009—Last week saw the introduction of little new legislation, as the Legislature primarily focused on the budgets.  The Senate voted in favor of the 2009-2010 Education Trust Fund budget by a 32-0 vote early last week.  The House Education Appropriations Committee gave the education budget a favorable report and it will be debated on the House floor this Tuesday.  While the Senate debated the education budget, the House considered and passed the General Fund budget last Thursday, sending it to the Senate Finance and Taxation, General Fund Committee for consideration this week.  Since there are only seven days left in this legislative session, we can expect to see a flurry of activity once the budgets are finalized.  

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Young CPA Award Nomination

Outstanding Young CPA Award

The Outstanding Young CPA Award is given to the Alabama Young CPA who has demonstrated outstanding service to the profession on a local and statewide level.

Nominate a Young CPA by faxing or e-mailing your nomination to Diane Christy by May 20, 2009.

Click here for the nomination form (PDF)

Tax Amnesty Program Ends May 15

Time is Running Out—Alabama's Tax Amnesty Program Ends May 15

Alabama Commissioner of Revenue Tim Russell reminds delinquent tax filers that time is running out to take advantage of Operation Clean Slate—Alabama’s tax amnesty program.  The program began Feb. 1 and will end May 15, 2009.

Individuals and businesses that voluntarily come forward and file past-due returns or amend their returns to properly report their Alabama tax liabilities will not face penalties or prosecution, according to Russell.  This program, however, is not available to persons who are already under investigation by the Alabama Department of Revenue (ADOR) or who have been contacted by the ADOR regarding their proper tax liability.

Operation Clean Slate is available to almost all taxpayers and for all tax types.  The program applies to individual and corporate income taxes, business privilege tax, and if unregistered with the ADOR, sales and use taxes.  READ MORE ON OUR WEBSITE

Alabama Ranks Among Top in New Foreign Projects

Alabama Ranks Among Top States

for New Foreign Project Employment

US project announcements account for $138 billion in capital investments, with 36% of the capital investment in the energy sector, according to the 2008 US Investment Monitor (USIM), a report prepared by the Quantitative Economics and Statistics (QUEST) practice of Ernst & Young LLP. 

The report focuses on mobile capital investments, which are not tied to a specific geographic market, natural resources or other constraints. It finds that investors pursue locations with supply chain potential and advantageous resources, input cost and quality, state and local tax structures, business incentives and industry clusters. The report analyzes major US business investment projects in each state announced in 2007 that had a minimum of $20 million invested or 20 jobs retained or created, and all wind and solar power generation projects, which are included regardless of size. READ MORE ON OUR WEBSITE

The Alabama Society of Certified Public Accountants [ASCPA] is the statewide, professional membership organization representing over 6,500 Alabama CPAs in public practice, industry, government and education. Eleven chapters, various committees and task force groups made up of CPA volunteers develop programs and address issues to help all members be successful professionals. Visit ASCPA.org >>

© 2009 Alabama Society of CPAs | PO Box 242987 | Montgomery, AL 36124