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26th Annual Accounting Seminar
November 14, 2002
Speakers
/ Co-sponsors
Partners in Business Hosted the
26th Annual Intermountain Accounting Seminar
The Intermountain Accounting Seminar
is a highly esteemed tradition during fall semester
on the Utah State Campus. This year several hundred
accountants from throughout the state as well as professors
and USU students attended the workshop. As usual, the
speakers were very informative. One attendee stated
that he has been coming for years because the seminars
help him keep in touch with what’s happening with
the bigger accounting issues. Another shared that she
was very pleased with the experience as she had gained
a tremendous amount of knowledge in a very short period
of time. This year’s seminar included a very timely
discussion on ethics.
Susan Jones, a Senior Technical Manager with the American
Institute of Certified Public Accountants (AICPA), kicked
off the day with a timely discussion about regulation
of the profession and the Sarbanes-Oxley Act. She talked
about how a few auditors failed to uphold their responsibilities
during what she described as, “the perfect storm,”
a time when pressure on short term earnings saw shareholders
investing on rumors and some professionals assuming
too much good faith on management’s part. Susan
told the audience that the AICPA has zero tolerance
for members who don’t do the right thing because
such failures lead to the erosion of public trust.
During the concurrent sessions,
Matthew McCleary, a Senior Manager with KPMG’s
Salt Lake City tax practice discussed tax code changes,
and significant court rulings that have occurred during
the past year and Scott Nixon, a Partner with PricewaterhouseCoopers,
discussed recent standard changes and how they will
directly affect companies. Also, Thomas Langdon, a professor
at The American College, Scott Jackson, a Principal
at Peterson Allred Jackson, Vance Grange a professor
from Utah State University, and Scott Gordon, a Regional
Vice President from Lincoln Financial Advisors engaged
in a panel discussion about financial planning. They
concluded that everyone could benefit from the help
of a financial planner, and that it is a very rewarding
profession.
Dr. Russell Gough from Pepperdine
University stimulated the audience with a discussion
about the current state of ethics in the United States.
He estimated that in the post-Enron era approximately
90 percent of Americans feel we are experiencing moral
decline stemming from poor leadership and inadequate
parental role modeling. On the job, he feels this situation
translates into cynicism, despondency and lack of purpose.
He questioned whether our society has the will and integrity
to do the right thing, and reminded us that such dilemmas
have plagued societies for eons. He concluded with a
reminder of Aristotle’s hypothesis that the pursuit
of excellence begins with ethics.
During the afternoon, Langdon discussed
the financial industry’s training and certification
requirements and Gordon talked about helping clients
develop estate plans and stay invested during rocky
markets. Gough facilitated a group discussion of ethics
issues, and McCleary and Nixon replicated their earlier
discussion for those who had attended other speakers
during the morning session. The day ended with a discussion
of the problems currently facing the accounting profession.
Dr. Richard Ratliff from Utah State discussed the gap
between generally accepted accounting practices and
truth. He concluded that today’s more discerning
audience is demanding more of the latter, and focused
on how the accounting profession should respond.
The consensus was that it was a
very thought provoking day. Combining the academic and
business communities creates a synergy that it is difficult
to replicate in any other environment. Please plan to
join us for the International Business Seminar which
occurs on the 5th of December. It will feature Curtis
Roberts, the Vice President of Global Strategic Planning
for Nike, Inc. and Ormonde Cragun, the Human Resources
Manager for Textron Global Services. The Partner’s
staff looks forward to providing you with an informative
and entertaining day.
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| Keynote
Speakers |
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Susan
S. Jones, CPA
Senior Technical Manager, American Institute of
Certified Public Accountants
Regulation
of the Profession: Issues, Impact, and the Future
Ms. Jones works on AICPA's Audit
and Attest Standards Team. She has also served
as a technical manager for the International Auditing
Practices Committee. Her presentation will focus
on accounting regulation issues and the Sarbanes-Oxley
Act of 2002. You will learn how this new law will
affect auditors, managers, and audit committees
as well as gain an understanding of the impact
it will have on financial reporting and the U.S.
capital markets.
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Scott
B. Gordon, J.D., CFP®
Regional Vice President, Lincoln Financial Advisors
Comprehensive Financial
Planning: How the CPA Generates the Best Plan
for the Client-A Coordinated Approach
Mr. Gordon serves and supports
a firm of over 120 financial planners who provide
sophisticated estate, business, tax, and investment
strategies to individuals and business owners.
He also serves as Utah's Chapter President of
the Financial Planning Association. His presentation
will focus on financial planning. You will learn
about the Financial Planning Association and current
developments in the field
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Russell
Gough, Ph.D.
Professor, Author, Pepperdine University
Character is Destiny:
Why Good Ethics is Not Only Good Business But
the Bedrock of Our Way of Life
Dr. Gough is highly committed
to integrity and moral development. He currently
serves as a Task Force Chair for the White House/Congressional
Conference on Character Building. He writes a
nationally syndicated column, and has authored
two books on ethics and character education. Dr.
Gough will discuss why the founding fathers' plea
for our citizens to exercise personal virtue is
just as timely and critical today. He will reinforce
why ethical character is vital to the survival
of our nation.
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Richard
L. Ratliff, Ph.D., CIA
Professor of Accounting, Utah State University
The New Accounting Paradigm:
Truth or Consequences
Recognized as an international
authority in the field of internal auditing, Dr.
Ratliff has published and lectured extensively
on auditing and management topics all over the
world. His most recent book, the result of more
than 10 years of research, examines the issue
of truth in auditing. During his presentation,
Dr. Ratliff will explain how problems currently
facing the accounting profession relate to the
issue of truth. He will clarify the relationship
between the truth and GAAP, and will discuss how
the profession could deal with this potential
disparity.
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Thomas
P. Langdon, J.D., CFA, CFP®
Professor of Taxation, The American College
The Training and Certification
Requirements for Financial Planners
Mr. Langdon has addressed many
professional organizations, including the International
Association for Financial Planning and numerous
CPA societies. He has written or co-authored four
books and has three more awaiting publication.
Mr. Langdon currently serves as Chair of the Board
of Examiners of the Certified Financial Planner
Board of Standards. He will help you understand
the financial planning industry's training and
certification requirements.
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| Concurrent Speakers |
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E.
Vance Grange, Ph.D., CPA, CFP®
Assistant Professor of Accounting, Utah State
University
Dr. Grange is the director of
both the tax and the personal financial planning
programs at Utah State University. He is also
a financial planning practitioner. He has served
as a member and the Chair of the Board of Examiners
of the Certified Financial Planner Board of Standards
and as a member of that organization's Board of
Governors.
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D.
Scott Jackson, CPA, CFP®
Principal, Peterson Allred Jackson, P.C.
Mr. Jackson's practice includes
personal financial planning, entity formation
planning, and business succession planning as
well as business management consulting. His includes
both individuals and businesses. He is a Certified
Financial Planner™ licensee.
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Matthew
McCleary, CPA
Senior Manager, KPMG
Tax Update-2002
Mr. McCleary is a tax specialist
with expertise in the taxation of corporations
and S-corporations as well as mergers and acquisitions.
He serves a wide variety of clients ranging from
large, multinational corporations to small, closely-held
businesses. His presentation will provide you
with an explanation of recent changes to the tax
code and an update on the past year's significant
court rulings. Mr. McCleary will highlight how
these changes could potentially impact you and
your company.
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J.
Scott Nixon, CPA
Partner, PricewaterhouseCoopers LLP
Current Topics from the
FASB, EITF, and AcSEC: What to Know and What to
Avoid
Mr. Nixon's career in public
accounting focuses on technology, manufacturing,
real estate, and service related entities. He
has helped engineer several complex SEC registrations,
and has resolved a variety of unique accounting
issues for clients. His presentation will provide
an update on recent changes mandated by the FASB,
EITF, and AcSEC. You will learn about "hot"
topics such as purchase accounting, impairment
analysis, restructuring costs, and complex debt
or equity instruments.
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Co-sponsors |
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School
of Accountancy, Utah State University
Utah Association of CPAs
Idaho Society of CPAs
Beta Alpha Psi |
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