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CPE Beach Cluster

Description

Looking for a little fun in the sun? Register for CPE in 4-hour blocks from a wide variety of topics. Participants can earn up to 28 hours of CPE credit for this three and a half day program.

Objective

Attendees select from four distinct learning tracks, including tax, accounting & auditing, not-for profit/government, and management/personal development so learners will be able to identify how new pronouncements and standards will impact their business, as well as recognize emerging trends.

Highlights

See individual session description

Who Should Attend

See individual session description

Required Knowledge

See individual session description

Advanced Prep

None

Event Speaker(s)

Mr. Gregory M. Clark, CPA, CGMA ( NCACPA, Morrisville, NC ), Mr. Michael Morgan ( Surgent McCoy CPE, LLC, Devon, PA ), Kenneth Greenwood ( Surgent & Associates, LLC, Devon, PA ), Ms. Susan Smith ( Surgent & Associates, LLC, Voorhees, NJ ),

Additional Event Information

Accommodations
Holiday Inn Resort - Wrightsville Beach
910-256-2231
Discounted Reservation Cut-off Date: July 13, 2020
Room Rate: $259 Oceanfront/$239 Standard
The group rate for NCACPA will be available two days pre and two days post conference dates, based on availability.

Onsite Information
Registration/Continental Breakfast: 7:00–8:00 am. Sessions begin at 8:00 am

Lunch will be provided for all participants who are registered for both the sessions immediately before and following the lunch break.

Parking
When and if possible, carpooling with attendees is encouraged! A registrant list will be made available to attendees so that you may view who will be joining you at this year’s Beach Cluster and carpool arrangements can be made. The Holiday Inn Resort offers parking in the two-level parking deck to overnight guests at a rate of $7.00 per night.

Day guests are welcomed to park in the hotel parking garage at no additional cost on a first come first serve basis. However, please note that parking spaces on the hotel premises are very limited and early arrival is strongly suggested! Day guests, unable to secure space on the hotels premises, will have access to street parking at a rate of $2.50 per hour or $17.00 for the day and may pay for parking through one of the following methods:

Day Guest - Option 1:
You may call the Pay-by-phone parking service at 888-380-7275 and follow the quick and easy automated instructions to create an account and pay for parking via phone. Tip: Calling and establishing an account before arriving will ensure ease of use the morning of!

You will need to have the listed information ready:
   • Your license plate number
   • A Payment Method
   • When prompted, the location code for parking spaces in the area surrounding the facility: 28104
   • Should any issues arise with the pay-by-phone service you may contact Wrightsville Beach Parking at 910-256-5453

Day Guest - Option 2:
You may pay for parking at the pay station terminals located on either side of the facility.
   • Link to areal map: Here

Day Guests - Option 3:
Members local to the area are encouraged to carpool when possible and may also pre-purchase their parking passes at the below location
   • Wrightsville Beach Parking: 321 Causeway Drive, Wrightsville Beach, NC 28480
   • Contact: 910-256-5453

Download Your Materials Before You Arrive Onsite!
Cluster materials will be distributed electronically to registrants 3 business days in advance of the program. You may download your materials to a laptop, tablet, or e-reader, or print them. It’s up to you how you choose to view the materials. Printed materials will not be available on site. Downloading in advance is recommended.

Price Per Session:
                          Early Bird        Regular
Member            $145                $170
Non-Member    $195                $220

Sessions

Tuesday, August 11, 2020 (8:00 am–11:45 am ET)

1A: Current Issues in Accounting & Auditing: An Annual Update
Mr. Gregory M. Clark, CPA, CGMA ( NCACPA, Morrisville, NC ),

Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides an overview of recent accounting, compilation, preparation, review, and attestation matters including: recently issued Accounting Standards Updates (ASUs); the FASB’s comprehensive new Revenue Recognition standard – Topic 606; Lease Accounting – Topic 842; Financial Instruments; SSARS No. 21, Clarification and Recodification and other new standards issued by the ARSC; recent AICPA and PCAOB releases; and other important A&A practice matters you should be aware of.

Level: Update

Field of Study: Accounting, Auditing

Tuesday, August 11, 2020 (8:00 am–11:45 am ET)

1B: Individual Income Tax Update
Ms. Susan Smith ( Surgent & Associates, LLC, Voorhees, NJ ),

This highly informative course will bring you up-to-speed on the latest in individual tax law developments and the corresponding or responsive planning opportunities available to your clients. You will come away from the course ready to educate your individual tax clients and implement tax-savings ideas that will serve their ever-evolving needs.

Level: Update

Field of Study: Taxes

Tuesday, August 11, 2020 (12:15 pm–4:00 pm ET)

2A: Financial Statement Disclosures: A Guide for Small & Medium-Sized Businesses
Mr. Gregory M. Clark, CPA, CGMA ( NCACPA, Morrisville, NC ),

A clear and concise set of proper financial statement disclosures can make or break an entity’s financial statements. Such disclosures are no longer simply additional information provided by a business; they can be complex in nature and difficult to both prepare and understand, even for small and medium-sized businesses. Oftentimes, financial statement users will first turn to the notes in the financial statements in order to get a feel for where the business and its numbers might be heading. This course will focus on key balance sheet and income statement disclosure as well as those relating to adoption of new accounting standards such as Topic 606, accounting policies, changes in accounting estimates and errors, subsequent events, going concern, and related party disclosures. The course will use illustrations, examples based on private company financial statements disclosures, and real-world excerpts from financial statements to provide you with a hands-on feel for the disclosure requirements across a number of accounting standards.

Level: Basic

Field of Study: Accounting

Tuesday, August 11, 2020 (12:15 pm–4:00 pm ET)

2B: S Corporation, Partnership, & LLC Tax Update
Ms. Susan Smith ( Surgent & Associates, LLC, Voorhees, NJ ),

Clients think that estate planning only applies to the very rich. In truth, there are many issues of critical concern for which the middle-income client needs to plan. This course is a must-attend for all CPAs who work with middle-income clients and are looking for ways to provide additional quality services. Continually updated with the latest guidance.,

Level: Basic

Field of Study: Taxes

Wednesday, August 12, 2020 (8:00 am–11:45 am ET)

3A: Guide & Update to Compilations, Reviews, & New Preparations
Mr. Gregory M. Clark, CPA, CGMA ( NCACPA, Morrisville, NC ),

Specifically designed for compilation, preparation, and review practitioners and their staff, this course will provide you with an overview, update, and hands-on application for performing compilation, preparation, and review engagements. You will learn the ins and outs of SSARS No. 21, Clarification and Recodification. The course will also cover the changes that have occurred with the issuance of SSARS Nos. 22 and 23 with regard to compilation of pro forma financial information engagements, engagements on prospective financial information, as well as in other areas relevant to SSARS No. 21 engagements, including lessons learned from early peer reviews of SSARS No. 21 engagements. This course will bring you up-to-date on SSARSs requirements and guidance as well as provide examples and illustrations to help you effectively perform compilation, preparation, and review engagements.

Level: Update

Field of Study: Accounting

Wednesday, August 12, 2020 (8:00 am–11:45 am ET)

3B: Required Minimum Distributions: Compliance & Planning
Ms. Susan Smith ( Surgent & Associates, LLC, Voorhees, NJ ),

The leading edge of the baby boomer generation has already reached retirement age. Financial and tax planners can expect increased demand for strategies that dovetail Social Security with other retirement- and estate-planning objectives. This course provides tax and financial planning professionals with both the background information on the Social Security system and the strategies clients will need in dealing with Social Security, and the myriad of all the other related retirement planning issues.

Level: Basic

Field of Study: Taxes

Wednesday, August 12, 2020 (8:00 am–11:45 am ET)

3C: Controller/CFO Update: Hot Topics Facing Today's Financial Professional
Kenneth Greenwood ( Surgent & Associates, LLC, Devon, PA ),

In today’s rapidly changing world, finance professionals are required to wear many hats and are often the keys to the success of the organization. On one hand, they need to be abreast of the latest proven financial skills for making the best decisions, and on the other hand they need the best skills to motivate, manage, and lead people. Being pigeon-holed into one area or another is neither good for career building nor for the good of the organization. We’ll cover the latest issues that all CFOs and controllers need to know about and provide how-to guidance to allow for immediate use in their organizations.

Level: Update

Field of Study: Business Management & Organization, Finance

Wednesday, August 12, 2020 (8:00 am–11:45 am ET)

3D: Recent Frauds Occurring in Not-for-Profit Entities & Governments
Mr. Michael Morgan ( Surgent McCoy CPE, LLC, Devon, PA ),

When stories of fraud make the news, they can look so obvious after the fact. Regardless of whether the fraud was material, the media and the public frequently ask how the auditor and those within the entity could not have detected the fraud. Fraud can be very difficult to detect, particularly without the luxury of hindsight. In this course, we will look at over 20 frauds that recently occurred and with the luxury of hindsight study how they happened and perhaps how they could have been prevented or detected. The course materials utilize a highly illustrative and innovative format. Over 15 focused exercises are included to provide an enhanced knowledge of fraud occurring in not-for-profit entities and governments.

Level: Intermediate

Field of Study: Auditing

Wednesday, August 12, 2020 (12:15 pm–4:00 pm ET)

4A: Evaluating Fraud Risk in a Financial Statement Audit
Mr. Gregory M. Clark, CPA, CGMA ( NCACPA, Morrisville, NC ),

Specifically designed for compilation, preparation, and review practitioners and their staff, this course will provide you with an overview, update, and hands-on application for performing compilation, preparation, and review engagements. You will learn the ins and outs of SSARS No. 21, Clarification and Recodification as well as other recent releases from the AICPA. Lastly, the course will perform a detailed review of the key provisions of the recently issued SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services—2018. Not only will this course bring you up to date on SSARSs requirements and guidance, but more importantly, it will provide you with practical examples and illustrations to help you effectively and efficiently perform compilation, preparation, and review engagements. This course will walk you through the content of The Essential SSARS Implementation Toolkit, which is a comprehensive resource to help ensure that you satisfy professional, ethical, and technical requirements for all SSARS Nos. 21-24 services.

Level: Update

Field of Study: Auditing

Wednesday, August 12, 2020 (12:15 pm–4:00 pm ET)

4B: Maximizing Your Social Security Benefits
Ms. Susan Smith ( Surgent & Associates, LLC, Voorhees, NJ ),

The 2018 Yellow Book revision represents the first comprehensive overhaul of the Yellow Book standards since 2011! This course not only explains the new standards, it also prepares you to excel in implementing the new Yellow Book. Learn precisely what the new Yellow Book does and does not require auditors to do. The course materials utilize a highly illustrative and innovative format. Over 15 focused exercises are included to provide an enhanced knowledge of the new Yellow Book.
,br>Level: Basic

Field of Study: Taxes

Wednesday, August 12, 2020 (12:15 pm–4:00 pm ET)

4C: Gaining a Competitive Advantage: Critical Skills for CFOs & Controllers
Kenneth Greenwood ( Surgent & Associates, LLC, Devon, PA ),

All organizations are looking for ways to gain an advantage over the competition. This practical and interactive session will present a toolkit of ideas to help CFOs, controllers, and finance professionals better position their organizations for the future. We all know change is occurring at an exponential rate and by completing this course you will be able to assist your organization in making key decisions affecting critical aspects of the business such as enterprise risk management, financial risk, cash management, credit decisions, and much more! Become the “financial hero” of your organization and make a positive impact on the bottom-line.

Level: Intermediate

Field of Study: Business Management & Organization, Finance

Wednesday, August 12, 2020 (12:15 pm–4:00 pm ET)

4D: Applying the New Yellow Book to a Financial Statement Audit
Mr. Michael Morgan ( Surgent McCoy CPE, LLC, Devon, PA ),

Clients think that estate planning only applies to the very rich. In truth, there are many issues of critical concern for which the middle-income client needs to plan. This course is a must-attend for all CPAs who work with middle-income clients and are looking for ways to provide additional quality services. Continually updated with the latest guidance.

Level: Basic

Field of Study: Auditing

Thursday, August 13, 2020 (8:00 am–11:45 am ET)

5A: Examining the New Lease Accounting Standard: More Than Meets the Eye
Mr. Gregory M. Clark, CPA, CGMA ( NCACPA, Morrisville, NC ),

Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the upcoming changes to lease accounting. In this course, we will review how to measure the lease liability and Right of Use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease remeasurement events as well as address the other major provisions of the new standard, including transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance. Lastly, the course will cover recently issued amendments to the lease accounting guidance.

Level: Intermediate

Field of Study: Accounting

Thursday, August 13, 2020 (8:00 am–11:45 am ET)

5B: Individual Tax Planning Ideas
Ms. Susan Smith ( Surgent & Associates, LLC, Voorhees, NJ ),

In this session we will tackle pressing issues at a “need to know” level and then discuss the practical implications. You will come away armed with the “big picture.” Preparedness is half the battle, so do not miss this critical briefing.

Level: Intermediate

Field of Study: Taxes

Thursday, August 13, 2020 (8:00 am–11:45 am ET)

5C: Enterprise Risk Management Concepts & Strategy for Small & Medium-Sized Companies
Kenneth Greenwood ( Surgent & Associates, LLC, Devon, PA ),

ASU No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, is the most significant not-for-profit reporting standard in over 20 years and is now fully effective. To properly implement the new financial reporting model professionals must have a strong, working knowledge of the new requirements. Now is the time to obtain that knowledge! This course explains the new requirements, illustrates how the requirements manifest themselves in the financial statements, and clarifies key options that not-for-profits have in implementing the requirements. The course also examines other key changes affecting not-for-profits including the new revenue recognition and contribution requirements (which apply to 12/31/19 year-ends) and leases (which apply to 12/31/20 year-ends). The course materials utilize a highly illustrative and innovative format to provide an enhanced working knowledge of not-for-profit financial reporting.

Level: Intermediate

Field of Study: Management Services

Thursday, August 13, 2020 (8:00 am–11:45 am ET)

5D: The Most Critical Challenges in Not-for-Profit Accounting Today
Mr. Michael Morgan ( Surgent McCoy CPE, LLC, Devon, PA ),

If only we could see ourselves as others see us. This course is designed to review some common pitfalls and real-world issues. Learn the traps taxpayers fall into — before you make the mistake. The material includes a study of the law underlying the tax or practice issue, which will assist practitioners in satisfying their professional standards of practice and will help in preparing business returns. Avoid these missteps, plan for a better tax result, and benefit from a wealth of knowledge that can be applied to practice.

Level: Intermediate

Field of Study: Accounting (Governmental)

Thursday, August 13, 2020 (12:15 pm–4:00 pm ET)

6A: Top 10 Technology Risks & Trends Every CPA Should Know
Mr. Gregory M. Clark, CPA, CGMA ( NCACPA, Morrisville, NC ),

For many businesses, preparing financial statements using a special purpose framework may provide an alternative to the complexity of U.S. GAAP. This course will provide you with an overview and hands-on application for preparing financial statements using a special purpose framework. You will learn the unique measurement and disclosure requirements of various Special Purpose Framework (SPF) options using example financial statements and illustrative disclosures. The course also includes common practice issues encountered when preparing SPF financial statements, as well as an introduction to the AICPA’s new SPF for small and medium-sized entities, FRF for SMEsTM. We will also review recent updates to the standards for accounting and review services that impact engagements performed on SPF financial statements.

Level: Basic

Field of Study: Auditing, Information Technology

Thursday, August 13, 2020 (12:15 pm–4:00 pm ET)

6B: Key Partnership & S Corporation Tax Planning Strategies
Ms. Susan Smith ( Surgent & Associates, LLC, Voorhees, NJ ),

The formula for a successful audit today consists of many elements. Some of those elements require more thoughtfulness and caution in their application than others. In this course, we will explore those more combustible elements that can cause the audit to blow up with the budget, peer reviewers, clients and others. The course materials utilize a highly illustrative and innovative format. Over 15 focused exercises are included to provide an enhanced working knowledge of today’s GAAS.
br>Level: Intermediate

Field of Study: Taxes

Thursday, August 13, 2020 (12:15 pm–4:00 pm ET)

6C: Fraud Basics: Protecting the Company Till
Kenneth Greenwood ( Surgent & Associates, LLC, Devon, PA ),

Our focus is to reduce the overall risk of fraud. To that end, this course focuses on what factors contribute to turning honest employees into schemers. Discussion will include integrity and ethics, as well as how people may react in certain situations. We also explore the darknet and cryptocurrency fraud.

Field of Study: Auditing

Thursday, August 13, 2020 (12:15 pm–4:00 pm ET)

6D: The Most Critical Challenges in Governmental Accounting Today
Mr. Michael Morgan ( Surgent McCoy CPE, LLC, Devon, PA ),

The Association of Certified Fraud Examiners (ACFE) recently released a comprehensive study on occupational fraud and abuse which estimates that organizations lose as much as 5% of their total revenue to fraud. While there are many types of occupational fraud, financial statement fraud results are typically one of the costliest, with a median loss of $800,000. Accordingly, understanding the types of frauds that may occur in financial reporting and accounting is an essential skill for both auditors and corporate accountants. This course provides participants with an overview of financial statement fraud, identifying common fraud schemes, corporate governance and methods for preventing and detecting fraud.

Level: Basic

Field of Study: Accounting (Governmental)

Friday, August 14, 2020 (8:00 am–11:45 am ET)

7A: Update on Recent AICPA Standard Setting: Staying Current in a Changing Environment
Mr. Gregory M. Clark, CPA, CGMA ( NCACPA, Morrisville, NC ),

Understanding the forces affecting your A&A public practice is critical to success in today’s complex and rapidly changing market. In this session we will tackle pressing issues at a “need to know” level and then discuss the practical implications. You will come away armed with the “big picture.” Preparedness is half the battle, so do not miss this critical briefing.

Level: Intermediate

Field of Study: Auditing

Friday, August 14, 2020 (8:00 am–11:45 am ET)

7B: Succession Planning for the Small Business Owner: Finding the Exit Ramp
Ms. Susan Smith ( Surgent & Associates, LLC, Voorhees, NJ ),

Owners of S corporations and partnerships are subject to numerous limitations on pass-through losses, each with unique rules, applications, and complexities. With the increase in popularity of pass-through business entities, it is essential for CPAs to understand the complexities and interactions of these pass-through loss limitations.

Level: Intermediate

Field of Study: Taxes


Share This Event

Event Vendor:Surgent McCoy CPE, LLC
Field of Study:Accounting, Accounting (Governmental), Auditing, Business Management & Organization, Finance, Information Technology, Management Services, Taxes, Various
Level: Overview

Event Type:Seminar
NASBA Instructional Method:Group Live
Event Code:BCLU0020

Registration Fees

Early Bird Rate expires July 28, 2020

Registration FeeEarly BirdRegular
NCACPA Member – See Individual Sessions for Pricing$0.00$0.00
Non-Member – See Individual Sessions for Pricing$0.00$0.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.