December 04, 2007

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> HAVE YOU ENROLLED YOUR FIRM YET FOR PEER REVIEW? Are you aware that Missouri Accountancy Law requires that firms that provide attest, review, or compilation services must be enrolled in an approved peer review program?  While the requirement has been in effect for those providing three or more attest services since 2004, the law will soon require any firm that provides even one of these services to be enrolled in an approved practice-monitoring or peer review program to ensure firm licensure.  The law specifically states that within 90 days after entering into an engagement, a firm must enroll in the program. To view the specific language related to peer review in the Missouri Accountancy Act, go to:  http://www.sos.mo.gov/adrules/csr/current/20csr/20c2010-5.pdf For more information about Missouri’s peer review program, go to:  http://www.mocpa.org/Content/22292.aspx To enroll your firm, please complete the enrollment form: http://www.mocpa.org/content/files/documents/07enrollment.doc __________________________________________________________ > LAST CHANCE! MSCPA Legislative and Keyperson Forum Join your fellow CPAs at the MSCPA Legislative and Keyperson Forum this Thursday, December 6, 2007 from 9:00a.m. - 2:00p.m. at the Capitol Plaza Hotel in Jefferson City, sponsored by the Missouri Society of CPAs' Legislation and Governmental Advocacy committee. BONUS! Fulfill your two hour ethics requirement by attending this session! (Please note: $65 if attending ethics session only!) Agenda: http://www.mocpa.org/content/files/pdfs/2007%20Forum%20Flyer.pdf To register: http://www.mocpa.org/Content/22580.aspx __________________________________________________________ > Attention Small Firm Practitioners! Would you like to earn CPE credit while discussing the issues that matter to you most?  If so, join us at the upcoming MSCPA Small Firm Networking Roundtables!  Share your experiences and learn from others regarding topics like the upcoming tax season, technology updates, staffing issues, and strategies for growing your firm. Friday, January 11, 2008 in St. Louis, MO Wednesday, May 7, 2008 in Kansas City, MO Want more information? Ready to register?  Visit http://www.mocpa.org/Content/21056.aspx! __________________________________________________________ > 2008 Annual MSCPA Awards Do you know someone who has made a unique contribution to the accounting profession?  Is one of your clients a leader and innovator?  Nominate that person for the 2008 Annual MSCPA Awards! Each year, the MSCPA recognizes CPAs who have served their profession and/or community above and beyond their responsibility. Nominations are accepted in five categories: Outstanding Educator Award Outstanding CPA in Government Innovative User of Technology Public Service Award Outstanding CPA in Business & Industry Nominations are due March 14, 2008.  For more information, visit http://www.mocpa.org/Content/awards.aspx. __________________________________________________________ > LEAP Contributor Campaign With the number of Baby Boomers nearing retirement, a disproportionate number of new CPAs is needed in the coming years to sustain the CPA profession. Now more than ever, the LEAP Scholarship Program is needed to help young people understand the rewards of working in this great profession. One hundred percent of money donated goes directly toward scholarships. You can contribute quickly and easily online with a credit card by visiting http://www.mocpa.org/leap/leap1.html. ___________________________________________________________ > Treasury, IRS Issue Notice Allowing 409A Corrections The Treasury Department and the IRS issued a notice that gives taxpayers the ability to correct certain operational failures to comply with section 409A of the Internal Revenue Code, which addresses nonqualified deferred compensation. http://www.ustreas.gov/press/releases/hp707.htm __________________________________________________________ > IRS Announces 2008 Standard Mileage Rates The IRS issued the 2008 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. 50.5 cents per mile for business miles driven 19 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations http://www.irs.gov/newsroom/article/0,,id=176030,00.html _____________________________________________________________ > December’s IRS Tax Talk Today Will Focus on Filing Season The 2008 filing season is right around the corner.  December’s Tax Talk Today program, “Getting Ready for the Filing Season 2008: Part 1 (Individuals)”, on Tuesday, Dec. 11, 2007 at 2 p.m. will give tax professionals a head start and get preparers off on the right foot.  http://www.irs.gov/newsroom/article/0,,id=176036,00.html _____________________________________________________________ > KPMG Student Survey Shows Money Not Top Factor In Job Choice When choosing their first employer, college business students want career opportunities, not salary and benefits, according to a survey conducted by KPMG LLP, the audit, tax and advisory firm and reported by AccountingWeb. http://www.accountingweb.com/cgi-bin/item.cgi?id=104276&d=883&h=884&f=882&dateformat=%o%20%B%20%Y _____________________________________________________________ > MSCPA Member Named Acting Director of Missouri Department of Revenue Missouri Governor Matt Blunt announced last week that he has selected Julie A. Allen, CPA, PMP as the Acting Director of Revenue. http://dor.mo.gov/news/2007/EEAVylEE.htm _____________________________________________________________ Sponsored By: Information, Inc. Information Inc.'s handcrafted business intelligence services provide up-to-the-minute information on critical issues. Decision-makers in more than 2,000 major corporations, associations and government agencies worldwide have relied on our comprehensive news services for the past 22 years. To learn how our timely, targeted, custom services can help you compete in the 21st century, go to: http://www.infoinc.com/s tatecpa/contact.html Technology & Productivity Weekly is a membership benefit and is intended for your personal use only. This Week's Headlines Users Tap RSS Tools to Ease Info Overload: Companies Hope to Boost Productivity By Reducing the Flow of Internal Emails Networking: Share Printers and Save Money For Your Small Business Going Mobile The Business Case for Color Printing The Web Is the New PC Driven to Distraction Email at the Office: Productivity Tools for Financial Analysis Working in a Wireless World; Software Vendors Are Answering Employee Demands to Conduct More Business Functions on the Go. Managing Remotely and Well Protecting Laptops

CPE 2007 For CPAs in Public Practice All courses are 8 CPE hours unless otherwise noted. Seminars: Surgent McCoy's Limited Liability Company & Partnership Tax Return Preparation Workshop December 07, 2007—St. Louis Leadership Secrets of Football's Master Coaches December 07, 2007—St. Louis Ethics for Financial Managers: Professional Conduct for Management Accountants (8:30-10:30 a.m.) December 10, 2007—St. Louis 2 CPE Hours Trends in Corporate Financial Planning -- Beyond Traditional Budgeting December 12, 2007—Kansas City Current Ethical Issues for CPAs (3-5 p.m.) December 13, 2007—Springfield 2 CPE Hours Profit Improvement--10 Tips for a Better Bottom Line & Corporate Ethics Update December 13, 2007—Kansas City Nonprofit Auditing and Accounting Update December 14, 2007—Springfield Nonprofit Organizations -- A Guide to Advanced Tax Planning December 17, 2007—St. Louis How to Explain & Present Financial Information to Non-Accountants December 17, 2007—Columbia Legal Toolkit for Business Owners, Controllers, & CPAs December 17, 2007—Kansas City Leadership Secrets of Football's Master Coaches December 18, 2007—Columbia Negotiations & Tax Aspects of Buying & Selling a Business December 18, 2007—Kansas City The Fundamentals of Federal Payroll Taxes, Benefits & New Hire Reporting December 19, 2007—St. Louis _____________________________ Winter Cluster Classes 4 CPE Hours Per Each Class Accounting & Auditing Update December 11, 2007—St. Louis Controller's Update: Latest Trends for Today's Financial Manager December 11, 2007—St. Louis AICPA's Individual Tax Review & Update: Real Applications! December 11, 2007—St. Louis Analytical Procedures: Practical Guidance for Small Business Engagements December 11, 2007—St. Louis Real World Business Ethics for CPAs in Accounting & Auditing: How Will You React? December 11, 2007—St. Louis Managing Outsourcing Activities: Is It for You? December 11, 2007—St. Louis Effective Strategies in Dealing with the IRS December 11, 2007—St. Louis Compilation, Review & Accounting Service Update December 11, 2007—St. Louis Advanced Cases in Compilation, Review & Accounting Services December 12, 2007—St. Louis Financial Management: Tools & Techniques to Enhance Profitability December 12, 2007—St. Louis AICPA's Corporate Tax Review & Update: Real World Applications December 12, 2007—St. Louis Annual Update for State & Local Governments & Not-for-Profits December 12, 2007—St. Louis Forensic Accounting: Uncovering Schemes & Scams December 12, 2007—St. Louis Ready-Aim-Fire: Role of Financial Professional in a Competitive Environment December 12, 2007—St. Louis Innovative Tax Tips for Small Businesses December 12, 2007—St. Louis So That's How They Do It! Common Frauds Found in Government & Not-for-Profits December 12, 2007—St. Louis Don’t Miss Out! ________________________________ Technology Tip of the Week Provided by the MSCPA Information Technology Committee Use The Scenario Toolbar To Quickly Analyze Excel Data While Excel's Scenario toolbar can be a powerful analysis tool, clicking through all the menus needed to set up a scenario is often clumsy and time consuming. Excel provides a tool that allows you to create a scenario in two steps. More To view recently archived issues of “Technology Tip of the Week,” go to: http://www.mocpa.org/techtips.html ________________________________ Contact Us For comments or questions, contact: Dawn Martin - dmartin@mocpa.org To view online: http://www.mocpa.org/Content/files/ newsletters/2007/news091807.html For technical assistance, contact: Christy Aven -caven@mocpa.org To update your e-mail address: Please include your old e-mail address, new e-mail address and MSCPA member ID (if known) and send it to member@mocpa.org. Please note: This newsletter may contain commercial material. Missouri Society of CPAs 540 Maryville Centre Drive, Suite 200 St. Louis, MO 63141 © 2007 Missouri Society of Certified Public Accountants - All Rights Reserved