for passing the cpa exam

February–August 2014
A biannual publication
of the Wisconsin
Institute of Certified
Public Accountants
February–August 2014
in this issue
1 Learn valuable tips for passing the
CPA Exam
5 Preparing for the Uniform Certified
Public Accountant Exam:
Old versus new thoughts
8 Making a good first impression
LEARN VALUABLE TIPS
10 Six ways to elevate your internship
from good to great
14 Mentoring: The great awakening
16 Seven must-have apps for
accounting students
and professionals
18 Explore the value of joining a
professional organization
NEWS FOR THE CPA2b
EDITOR, AMY E. GAETH
Vice President of Communications
Wisconsin Institute of CPAs
amy@wicpa.org
FOR PASSING THE CPA EXAM
T
By David Canedo, CPA
he CPA Exam, whether you see
it as the culmination of years of
hard work or as the beginning
of a promising career, is without a
doubt one of the exams that strikes
the most fear and anxiety in many
people. If you’re reading this article,
you’re already in a good position and
are starting to prepare for the exam.
So, take a moment and pat yourself on
the back because it’s not an easy task
to obtain the 150 credits required to sit
for the exam. Congratulations! Now that
it’s time to prepare, the most important
thing to keep in mind is that it’s just
an exam, and no matter the outcome,
life will go on. This doesn’t mean that
you shouldn’t put in a lot of work to
prepare for the exam, you should. But,
it’s important to keep the big picture in
perspective and avoid sacrificing your
health due to countless sleepless nights.
continued on page 3
Drive
• Suite 200 • Brookfield,
WI 53005
235 N. Executive235
Dr.N.•Executive
Suite 200
• Brookfield,
WI 53005
262-785-0445 ext. 3006 • 800-772-6939 • Fax 262-785-0838 • www.wicpa.org
262-785-0445, ext. 3005 • 800-772-6939 • Fax 262-785-0838 • www.wicpa.org
Conta
Graduating?
ct Lea
h
Grun
ewald
leah@
at
w
or 26 icpa.org
2-785
-0
ext. 3
026 fo 445
r mor
ation e
inform
Take your WICPA Membership with you
As you begin your accounting career, make sure you stay
connected to your most valuable resource — the WICPA.
Transitioning from student to affiliate membership is easy.
1. Simply email Leah Grunewald at leah@wicpa.org prior to graduation.
2. We’ll update your profile with your new information.
3. You’ll receive a membership renewal notice in April with your new category and dues rate.
An Affiliate membership also offers you:
• Access to our marquee member events
• The opportunity to network with nearly 8,000 members
• Credibility on your resume
• A subscription to our award-winning member magazine, On Balance
• Membership discounts on vendor products at www.wicpa.org/marketplace
Affiliate membership is your next step to career success. Make sure you’re on the right path.
Update your membership status today.
The WICPA is the best professional resource for all stages of your career. We encourage you to explore our valuable
benefits and services. Contact Leah Grunewald at leah@wicpa.org or 262-785-0445 ext. 3026, or go online
www.wicpa.org/join for more information.
www.wicpa.org
news for the cpa2b • February–August 2014
continued from page 1
“...IT’S CRITICAL TO PICK A GOOD REVIEW COURSE.”
A key ingredient in the recipe for success on
the CPA Exam is how you choose to prepare for it.
Each section of the exam covers a lot of material,
and the materials are constantly updated. So,
it’s critical to pick a good review course. There
are many options of review courses, including
Becker, Wiley and CPA Excel. Spend some time
researching what each course has to offer,
and pick one based on your needs, budget and
learning style. Perhaps you’re a better learner
studying on your own, or maybe you thrive in a
classroom setting where you can interact with an
instructor.
Whichever way you decide to go when
preparing for the exam, make sure to go through
all the materials. If you’re taking a live class,
this will be easier. Just show up, pay attention
and actively participate. You will not get your
money’s worth if you’re checking your fantasy
team or texting your boyfriend during class. If
you’re doing a self-study course, take a few hours
before you dive into the materials head-first, and
set up a schedule to go through every chapter
and have a few days to review prior to the exam.
Plan on spending 80 to 120 hours preparing for
each section. This should be enough time to go
through all the materials at least twice, work
through practice questions and exams, and do a
final review. Have a routine, and stick to it. Many
people, me included, treated studying for the CPA
Exam as a workday. This is a good idea if you don’t
have work or school. If you do have to work or
attend school, make sure to know your schedule
so you can plan ahead and allocate enough time.
Keep in mind that this is a multiple choice
exam, so don’t try to memorize every term as
you will be wasting your time. Instead, read
through the materials carefully, and make sure
that you understand all the concepts. I would
recommend reading through each chapter at least
three times—a first time while highlighting and
taking notes (this could be while following the
lectures, live or online), a second time to make
sure you comprehend everything you read, and a
final time to review the chapter. When working
through practice questions, don’t focus too much
on whether you got the questions right or wrong.
Instead, understand why you got them right
or wrong. And, if you notice concepts that you
repetitively struggle with, write them down on a
separate notecard, spreadsheet, Word document
or notebook. You can review these during your
final review.
Since each section contains a lot of material, I
would recommend doing a comprehensive review
of all chapters that you have worked through once
or twice per week. They should be a combination
of practice questions from each chapter and rereading key concepts. This will keep everything
fresh in your mind as you approach your exam
date. Save three to seven days of “final review”
time before the exam. This final review should
consist of re-reading key concepts, working
through practice questions, reading through your
own notes and taking practice exams. Practice
exams are a fairly accurate representation of the
actual exam, often even harder. So if you’re doing
well on them, you’re on the right track.
The CPA Exam is undoubtedly one of the
toughest exams you will take because of the
amount of material it covers. However, if you
have followed a study plan similar to what I
have suggested, you will be prepared, as you
will have seen all the material on the exam a
number of times. Take a deep breath, relax, and
remember that whatever happens, you will live
to love another day. Hopefully these tips will help
you combat high stress and anxiety that could
negatively impact your performance. Good luck!
David Canedo, CPA is a staff auditor with Vrakas/
Blum, SC in Brookfield and is a UW-Madison alumnus.
Contact him at 262-797-0400 or dcanedo@v-b.com.
883
Magazine ranks
accountant among
best business careers
Accountant ranked No. 3 on the 2013 list of best business
careers by U.S. News & World Report. The magazine
highlighted data by the U.S. Department of Labor that
projects the accounting profession will increase by about
16 percent in next few years. Market research analyst and
financial advisor ranked No. 1 and No. 2 respectively.
Wisconsin CPA firms
sponsor CPA2b
Thank you to our CPA2b sponsors. Without these firms,
this publication wouldn’t be possible. Make sure to visit
their websites to learn more about the firm, as well as
career opportunities!
Hawkins Ash CPAs
www.hawkinsashcpas.com
Komisar Brady & Co., LLP
www.komisarbrady.com
Smith & Gesteland, LLP
www.sgcpa.com
www.wicpa.org
news for the cpa2b • February–August 2014
Preparing for the Uniform
Certified Public Accountant Exam:
V ER S
US
OLD NEW Thoughts
BY MICHAEL P. DOLE, CPA AND COLLEEN E. FIOCCHI
OLD: MICHAEL P. DOLE, CPA,
NEW: COLLEEN E. FIOCCHI, ASSURANCE
ADJUNCT ASSISTANT PROFESSOR
OF ACCOUNTING, MARQUETTE
UNIVERSITY, MILWAUKEE
ASSOCIATE, WITH A BACHELOR’S DEGREE IN
BUSINESS ADMINISTRATION WITH A DOUBLE
MAJOR IN ACCOUNTING AND FINANCE
Old: For more than 25 years, I have been
teaching accounting at Marquette University
and have been advising students on
strategies for taking the CPA Exam. Most of
these strategies come from my experiences
along with observing friends, associates and
students in their quest to move on with their
professional careers and get the CPA “monkey
on their back” Exam completed.
New: I graduated from Marquette University
in May 2013 with a bachelor’s degree in
business administration with a double major
in accounting and finance. I completed all
four parts of the CPA Exam before starting as a
staff accountant in September. My advice and
recommendations come from my experiences
in preparing for and taking the CPA Exam.
continued on page 6
885
continued from page 5
WHEN DID YOU BEGIN TO PREPARE
FOR THE CPA EXAM AND WHY?
Old: Being a December 1981 graduate from the University
of Wisconsin-Milwaukee and starting my full-time career
in public accounting in early January, I thought I would be
able to work my first busy season in tax and prepare to sit
for the May 1982 exam. Until the 1990s, in order to sit for the
exam, you needed first to have the necessary courses and
an undergraduate degree. My mentor, UWM Professor Paul
Fischer, Ph.D., thought I was nuts, but I still enrolled in the CPA
Review of Wisconsin. After my first week of working 70 hours,
I dropped the review course after one class session. I then
waited to start up the CPA Review in July for the November
1982 exam when the pressures of tax season were over.
New: I began studying with the Becker Review course in
February 2013 to prepare for the CPA Exam. After receiving
advice that it was extremely hard to study while working,
I made a plan to take one part of the exam in my last
semester at Marquette and the remaining three parts in
the following summer. My firm offers a bonus to associates
who pass the CPA Exam, so I had an incentive to start
preparing and knock out the exam early.
WHAT FORMAT DID YOU CHOOSE TO
PREPARE FOR THE CPA EXAM?
Old: Before the age of the IBM PCs and Apple Macintoshes,
there were limited choices for preparing for the CPA Exam.
Either I could have bought a self-study textbook course that
Gleim publishers offered, or I could have taken a review class.
In southeastern Wisconsin, the review class choices were the
Becker CPA Review Course and the CPA Review of Wisconsin.
At that time, the CPA Review of Wisconsin started 15-week
sessions starting the first week of January or July for the May
or November exams. I decided that I needed a classroom
environment with a structured map to navigate the many
topics that I would need to learn. The course had all day
sessions on Saturday, which included lectures and quizzes.
www.wicpa.org
news for the cpa2b • February–August 2014
Based on the candidate’s performance on those quizzes and
their course attendance, they could retake the review course
again if they didn’t pass all four parts of the exam.
New: There are many review courses featuring two main
formats: self-study and classroom. For me, the Becker
CPA Review self-study format was the best option. My
firm paid for the Becker CPA Review course, so I had to
decide between a self-study or a classroom format. Since
I started studying for the CPA Exam while I was still in
school, I figured it would be too difficult to commit to a
classroom format while I already had a full schedule and
deadlines that I needed to keep up with at Marquette. The
self-study format allowed me the flexibility I needed to
juggle studying for both the CPA Exam and my classes. I
also continued to use the self-study format while studying
during the summer. A benefit of the self-study format is
that candidates can study at their own pace and still fit a
few fun activities in their schedule without worrying about
falling behind in a classroom course. I would recommend
the self-study format. However, it takes a very dedicated
candidate to stay on top of this study schedule. It is
important that candidates recognize their study habits and
decide accordingly.
HOW DID YOU DECIDE ON THE
ORDER IN WHICH TO SIT FOR
THE FOUR PARTS OF THE CPA
EXAMINATION?
Old: Before the change of the CPA Exam to the current
format, a CPA candidate needed to sit for all four parts of the
exam that were only offered during the first week of May
or November. The exam ran 19.5 hours from Wednesday
through Friday, with five testing sessions. You could not use a
calculator. Plus, in Wisconsin, you needed to pass a minimum
of two parts and qualify, with a score of at least 50 on any
remaining parts of the exam.
New: There is no real trick in deciding the order to sit
for the parts. Personally, I sat for the Audit section of the
exam in April. This made the most sense for me because I was
taking Auditing at Marquette as I was studying for the audit
section of the CPA Exam. This study strategy benefited my grade
in my Auditing class and studying for the CPA Exam. Next, I
took Financial Accounting and Reporting, Regulation, and then
Business Environment and Concepts. There is a lot of common
guidance out there to help a candidate make this difficult
decision. Some people recommend taking the hardest section first
so that if it needs to be retaken, it does not trigger the 18-month
window for the first passed test to expire. Others recommend that
a candidate take the section they feel most comfortable with first
to build confidence. Ultimately, candidates need to decide which
order to sit for the sections of exam based upon their schedule
and how much time they can devote to each section.
CONCLUDING REMARKS
Old: My advice to students is to ruin your social life for a short
period to put in the necessary time and rigor to get the CPA Exam
“monkey off your back”; then you can focus on your career and nonaccounting life.
New: Be honest with yourself regarding your study habits when
choosing a CPA Exam review course/format. Also, try to finish the
CPA Exam before starting work. Having a few tough months of
studying is not anyone’s ideal situation, but it will pay off.
Stay calm and work hard.
Contact Michael P. Dole, CPA at 414-288-6587 or
michael.dole@marquette.edu.
READY, SET,
PASS!
Don’t pay full price for your
CPA Exam review course!
WICPA members SAVE HUNDREDS OF DOLLARS with
discounts from these review course providers:
The Instructor-Led Online CPA Review
Has Just Made Your Life a Whole Lot Easier
Passing the CPA Exam is Your Challenge.
With the Instructor-Led Online CPA Review,
We Guarantee You’ll Succeed on Your First Try.*
Classroom
Now iPad
Compatible!
Since 1971, Bisk CPA Review has been the leading provider of CPA Exam Preparation products. As the profession
has changed, Bisk CPA Review evolved right alongside it, updating and improving our Instructor-Led Online CPA
Review so that you always have access to the most up-to-date study materials possible. Once armed with the full
set of Instructor-Led Online reviews, you’ll have the best means to not only pass the CPA Exam, but pass it the first
time – guaranteed!
The Industry’s Top Instructor-Led Online CPA Review Already Includes:
• The Complete Online Review with Guided Assignment Plan
• 24/7 Communications Access (Chat, Message Board, Email) with Industry-Recognized Professor
• Comprehensive Video Lectures (Both Streaming and on CD)
And Now the Instructor-Led Online CPA Review is Even Better:
• Total Classroom Access Has Been Extended to 7 Full Months (spanning two exam windows!)
• Always Have Access to Your Textbooks in Their Entirety as E-Books and Embedded Right in the Online Classroom
• JUST ADDED! Leading-Edge Simulation Strategies DVDs that Help You Master the Questions Test-Takers Fear Most
Visit www.wicpa.org/marketplace for
discounts and links to provider websites.
Call or Go Online Now for More Information.
800-874-2099 | CPAexam.com/WI
©2013 Thomson Reuters (Tax & Accounting) Service Inc. All rights reserved. SC 199964zbg1 | MCID 23671
*Call for Details.
887
Making a
good first
impression
By Marcy Dahlby, MHRLR
www.wicpa.org
news for the cpa2b • February–August 2014
While interviews are important, they’re
not how I hope to meet you for the first time.
s a human resources professional, campus recruiting is a part of my job that I absolutely love. I
guest lecture in accounting classes, host meetings for accounting students, and attend career fairs
and various social events like fund-raising auctions and sporting events. All of the efforts I make
boil down to an attempt to get to know students who could someday join our team at Schenck.
A
While interviews are important, they’re not how I hope to
meet you for the first time. I want to see you in class and observe
how your peers regard you. I want to see you at the Green Bay
Packers tailgate event my firm is hosting and how you deal with
hecklers from the other team. I want you to approach me after
my presentation and ask for clarity on something you picked up
on. I want you to seek me out at a career fair because your friend
had a great internship with us, and you want to intern for us
too. I want to see your confidence, your charm, your ability to
connect with me and your excitement to work at my firm.
I want to get a sense of you before interviewing day. If
the only interaction I have with a student is 30 minutes in an
interviewing room, then we’ve missed the opportunity to take
the pressure off.
I interview accountants at all levels of experience and areas
of specialization. So what makes one interview better than
another? Here are some tips:
• TO MAKE A GOOD FIRST IMPRESSION, WEAR A
SUIT FOR YOUR INTERVIEWS. It tells me that you take
our meeting and a career with my firm seriously.
• MAKE SURE YOU’VE COVERED THE BASICS: Clean
and polished conservative dress shoes, well-groomed hair,
cleaned and trimmed fingernails, minimal cologne or
perfume, no visible body piercing beyond conservative ear
piercings for women, well-brushed teeth and fresh breath,
no gum, candy, or other objects in your mouth, minimal
jewelry and good hygiene. While these things seem like
common sense, I have known a number of candidates who
have been knocked out of the running for missing one of
these key basics.
• BE CONFIDENT. Let me know I can rely on you. I’m
disappointed when students are hunched over, with
their elbows on their knees and fidgeting. They slink
into the interview room doing everything they can to be
unobtrusive. I have told students on many occasions to
own the space they take up, don’t apologize for it. If an
interviewer is meeting with you, then you possess some
kind of quality they need.
• GIVE ME A GLIMPSE INTO YOUR TRUE SELF. What
are your interests outside the office? While we are talking,
I’m thinking about how well you will fit in with the rest of
our team. Be honest, and don’t just tell me what you think I
want to hear.
• I AM ALSO GOING TO ASSESS THE IMPRESSION
YOU’LL MAKE ON CLIENTS AND PROSPECTIVE
CLIENTS. Will they be comfortable sharing their financial
data with you? Will they feel you are capable, confident
and reliable? Can you turn strangers into friends and
maybe a client? While nobody expects you to show up with
a million-dollar book of business as an intern, I need to
believe you will be comfortable with business development
as your career progresses.
• JUST ABOUT EVERY INTERVIEWER IS GOING TO
ASK YOU WHY YOU WANT A JOB WITH THEIR
FIRM. Show me that you know my firm by giving me an
answer that only you could give. Perhaps your mother used
to work for us, or you came to an office tour in high school
and it inspired you to major in accounting, or your uncle
has been a loyal client for 30 years. Don’t give me a generic
answer because I’ve heard them all.
• AFTER OUR INTERVIEW, SEND ME A THANK YOU
NOTE. I do notice if I don’t receive one from you! Make
reference to a part of our conversation that was unique so
that you stand out in my mind.
At the end of a long day of interviews, you want to be that
great candidate who is memorable and passionate about my
firm. Following the above tips can help get you there. Good Luck!
Marcy Dahlby, MHRLR is a human resources generalist at Schenck
SC in Milwaukee. Contact her at 414-465-5507 or Marcy.Dahlby@
schencksc.com.
889
Six ways to elevate your
INTERNSHIP
from GOOD to
GREAT
BY Kat
y
So
mme
r, CPA
1. APPEARANCE MATTERS. We
CONGRATULATIONS!
YOU SURVIVED THE INTERVIEW
PROCESS AND LANDED AN INTERNSHIP.
NOW WHAT? EVERYONE HAS HEARD
THE POPULAR TIPS AND TRICKS FOR
MAKING THE MOST OF YOUR INTERNSHIP
– THINGS LIKE “ASK QUESTIONS,”
“LEARN THE CULTURE,” “CULTIVATE
RELATIONSHIPS,” “BE CONFIDENT.”
HERE IS A PRACTICAL LIST FOR
SUCCESS.
www.wicpa.org
news for the cpa2b • February–August 2014
understand you are a college student. We don’t
expect you to buy a whole new wardrobe. However,
we do expect you to blend in. “Business casual
attire” is a widely-used term, defined differently by
every organization I’ve worked with. During your
first week on the job, look around. What are people
wearing? Skirts – how short? Sandals – open toe?
Shirt and tie or polo? Is anyone wearing khakis?
While most people will cut you some slack, keep
in mind that you want to be remembered for your
skills, not the way you dressed.
2. BE RELIABLE. Your professional career is
being launched. You have accepted an internship.
This isn’t the time to put your hand in the candy
dish to see if another internship would be better.
Leaving a message like, “Hey, thanks for the
opportunity, but I’ve changed my mind” on the
voice mail of the person who is expecting you to
arrive for work that morning doesn’t propel your
career upward. I promise you will be remembered…
for only that reason. You made a commitment, and
we were counting on you.
3. MIND YOUR (SOCIAL) MEDIA. Think of social
media like an electronic tattoo. Choose your design wisely. That
tribal arm band was all the rage. Now a few years later, not so
much, but it’s still there and is going to be there for a long time.
The Internet is forever. Those awesome pictures from that crazy
night are archived and searchable. More employers are making
it a standard screening practice to research candidates online.
Poster beware.
4. THERE IS A TIME AND PLACE FOR FUN.
The busy season can get a little intense and it may feel like you
are living at the office, but remember you are at an office. Keep
your head up and your feet on the floor. Wait until you get home
to put your feet up.
5. CHECK YOURSELF. Freebies are a wonderful gift
employers offer employees to make their lives a little more
comfortable while they are at work. You may find yourself
disappointed by the limited selection of freebies, but smile and
keep going. Given the economic climate, some firms have had to
scale back. Keep focusing on the quality of your internship and
learning as much as you can.
It’s never too early to think
about your financial future!
Contact GreenPath if you or a family member have
questions or concerns about:
6. ETHICS
(WITH A CAPITAL E!)
Ethics - Rules of behavior based on ideas about what
is morally good and bad, as defined by “Merriam-Webster Dictionary.”
A sure-fire way to take yourself out of contention for a full-time,
permanent position is to talk about how you have cheated on
your taxes. True story – This actually happened.
What you say, even in those lighter moments of fun during
the lunch hour, matters a lot. People are listening. Employers
are trusting you with their clients, their reputation and their
livelihood. Trust is absolutely non-negotiable.
You are starting the next phase of your life — that’s exciting!
Soon, your college years will be a distant memory, and you will
enter into the workforce. You may make mistakes, large and small,
and that’s OK (and expected). Employers want you to succeed.
You are the next generation of leaders. Don’t sell yourself short.
Just be aware, honest and open to constructive criticism.
Katy Sommer, CPA is a partner at RitzHolman CPAs in Milwaukee.
Contact her at 414-390-1178 or katy@ritzholman.com.
Takeout can eat up your savings.
Pack your own lunch
instead of going out.
$6 saved a day x 5 days
• StudentLoanDebt
• CreditCardDebt
• CreditReportReview
a week x 10 years x
GreenPathDebtSolutions,anationwide,non-profit
companywithofficesinMadisonandMilwaukee,
hasbeenhelpingpeoplemanagedebtsince1961.
GreenPath’scertifiedfinancialcounselorsareavailable
inperson,byphoneoronline.
in your pocket. Small
CALL TOLL-FREE TODAY
800-969-7284
6% interest = $19,592.
That could be money
changes today. Big
bucks tomorrow. Go
to feedthepig.org
for free savings tips.
OR VISIT
www.greenpath.org
88
11
Membership
welcome new members
Maksim Artemchik, UW-Milwaukee
Daniel Asmuth, UW-Milwaukee
Bryan Boeck, UW-Green Bay
DJ Chappel, DeVry University
Timothy A. Gorecki, Herzing University
Bradley J. Gratz, UW-Whitewater
Patrick R. Hanrahan, UW-Milwaukee
Nate L. Hansen, Marian University
Dustin J. Hess, UW-Whitewater
Allyson J. Hofstede, Valparaiso University
Rhoda Ko, UW-Whitewater
Kristina Lancour, UW-Whitewater
Paul Lukaszewski, Extendicare Health Services, Inc.
Derek R. Norby, UW-Whitewater
Joseph Paulus, UW-Whitewater
Shannon Reinert, Linfield College
Steven Schmidt, UW-Whitewater
ZHengwei Sun, Marquette University
Rebecca L. Tyson, Marian University
Ryan A. Valentine, UW-La Crosse
Robert R. Weber, UW-Milwaukee
Student
membership available
Student membership is designed to involve and connect future leaders of the
profession to today’s leading professionals. Student members have the opportunity
to network with professionals who interview and hire on campus. The WICPA offers
networking opportunities and other valuable membership benefits that can help
jump-start your career.
Student membership benefits:
•
•
•
•
•
•
CPA Exam Review discounts.
Resume builder.
Access to NEW WICPA Career Center.
Young Professional Committee involvement.
Write for the member magazine, On Balance.
Access to members-only events.
www.wicpa.org
news for the cpa2b • February–August 2014
Sign up for membership online at www.wicpa.org/join
Student membership is $30.
Ready
for your
next move?
Career advancement made easy
WICPA Career Center is the ideal place to be seen by employers who are
specifically looking for accounting professionals. Whether or not you are
actively looking for new employment, it makes sense to post your resume on
the WICPA Career Center. You never know what opportunities may be out there
looking for you. Also, checking the job listings is a great way to see what is hot
and what is not in the job market, and whether your particular skills are among
those most in demand.
The WICPA Career Center offers:
Free online job search: All job-seeker functions are available at no charge.
Confidential resume posting: Make your resume available to employers, and release
your contact information only when you are ready.
Job search agent: Create a password-protected account and receive
automatic email notification of new jobs that match your search criteria.
Saved jobs capability: Save up to 100 jobs to a folder in your account so you can come
back to apply when you are ready.
WICPA Career Center makes finding the perfect job easy.
Post your
resume
for FREE!
wicpa.org/
CareerCenter
Post your resume today!
WICPA Career
C E N T E R
An easier way to find a job. A better way to fill a position.
To find a job or fill a position, visit wicpa.org/CareerCenter today.
88
13
www.wicpa.org
news for the cpa2b • February–August 2014
88
15
By Jeffrey T. Lemmermann, CPA, CITP, CISA, CEH
FIRST, SOME PERSPECTIVE. I am not
an appaholic. I like apps, but I don’t
consume them in mass quantities.
Once I find one I like, I will not try the
newest or flashiest one that does the
same thing. I have a solid base of them
that earned their way onto my phone
and tablet. Typical of a CPA, I know.
SECOND, THIS LIST ISN’T EXPLICITLY
FOR ONE PLATFORM (Android, iOS,
Windows Mobile) That makes selecting musthaves for everyone difficult, since I know one of
those platforms very well, and the others only a
little. As such, I will emphasize seven categories
with my favorite mentioned. I have consulted
others to recommend a complementary app for
the platforms I don’t know very well.
FINALLY, I AM SKIPPING CONTACT
MANAGEMENT AND GENERAL OFFICE
APPLICATIONS. Either the company you
work for will have selected one already, or the
one that comes with your phone will cover
most needs. With that, let’s get to my list of
mobile must-have apps.
01Password manager
The first must-have has to be a password manager. It’s the
app I use the most, because I store passwords in it, important
client details, frequent customer program information and other
information I don’t want in an address book on the device.
www.wicpa.org
news for the cpa2b • February–August 2014
For this need, I use KeePass (www.keepass.info). This is an
open source product that’s free with versions on pretty much all
platforms. This means you can have one central database that you
access from any device, so you only have to update the information
in one place. All devices will see the new information from
anywhere when used in conjunction with my second category.
02Cloud storage
The beautiful thing about cloud storage is the ability to
access things from almost anywhere as long as you have
an Internet connection. What if you don’t? The better cloud
storage apps will synchronize your cloud contents locally, so
that if you’re without Internet access, you will still have the
version of the file available when the device was last online.
Dropbox (www.dropbox.com) is my go-to application. Two
gigabytes free for starters and runs on all major platforms.
03Note taking
I am a new convert of this category, but am quickly
becoming fanatical about my note taking app. Useful with
laptops, these programs become indispensable with tablets and
phones. They give you the ability to capture thoughts, mark up
existing documents and bring together whatever information
is available on a topic: pictures, videos, website clips, anything.
Our company uses networkable notebooks to collaborate
on projects. I use OneNote from Microsoft, but Evernote and
Google Keep round out the big three in this category.
04Calculator
Time for some real accountant stuff, a calculator. Sure, every
device has a basic calculator app, but when you need to keep
a tape of your work, you’ll need to get something different.
These apps actually improve on the old 10-key calculators most
accountants were raised on. They allow for notations, updates
to calculations that will update your tape and intermediate
results to help check your work. My choice is CalcTape
(www.sfr-software.com), which is free for Android and low cost
($1.99 or $2.99) for iDevices. I have also been told that Digits
(www.shift-apps.com) is outstanding for iDevices and is $0.99.
05Expense Manager
Whether you need it for your job or for your personal budget,
an expense manager is a must-have to do what accountants
do best: account for things. My favorite is Expense Manager
from Bishinews, which allows the photo capture of receipts,
tracking against budgets (daily budgets if you want), templates
for repeating expenses, currency conversion, data export for
spreadsheets, graphical charts—the list goes on. It optionally
integrates with Dropbox to make your data available on
multiple devices and won’t appear on your personal expense
line since it’s free. Spendee (www.spendeeapp.com) has
favorable early reviews from my iOS sources, allowing for
analysis of income and spending with some great graphs,
costing $1.99.
06Document scanner
If you’re on a quest to be paperless, a document scanner
is high on the must-have list. This is a relatively new area of
app development, taking advantage of the increasing ability
of mobile device cameras. Google has come out with a scan
feature in its Google Drive Android app. It captures an image
of the document, and it applies optical-character recognition
to the scanned document and stores it as a PDF in the user’s
cloud-based Google Drive account, which is searchable. The
drawback is it’s specific to Google Drive; you can’t link it to
another cloud storage service. At the time of this article, the
iOS version of Google Drive didn’t have a scan feature, but it’s
rumored to be ready soon.
07Research
I would be remiss if I didn’t mention research. I am going
to be one-dimensional in this category, since I was pretty
much raised on CCH for tax and business law information. CCH
Mobile extends your research tools to your Android or iOS
device, allowing you to quickly access rate tables, state tax law
citations, newsletters and whatever else you’ve come to expect
from CCH and the IntelliConnect platform. If you don’t have
an IntelliConnect account, you can get CCH Mobile access for
specific research areas at reasonable prices.
There you have it: My personal list of must-have apps for
accountants. Hopefully, I have helped mold your own app tool
box with a few of these recommendations. Of course, I probably
should have covered some fun apps as well, but I would need a
few more pages for that.
Jeffrey T. Lemmermann, CPA, CITP, CISA, CEH is the chief financial
and information officer for Precision Plus, Inc. in Elkhorn. Contact
him at 262-743-2868 or LemmermannJ@preplus.com.
88
17
Explore
the value of joining a
professional
organization
W
By Robert A. Gruber, Ph.D., CPA, CGMA and Cindy J. Gruber, CPA, MBA
e sometimes get asked by students, “Why should I join a campus
organization?” It can be anything from Beta Alpha Psi to Campus Crusade
to Alpha Epsilon Delta. In essence, the question is probably more like, “I
see and understand the costs associated with joining an organization, but the benefits
are harder to identify and/or measure. What are they, and how will a particular
organization affect me and my career?” Similar questions could be asked of professional
organizations, once you have graduated and begin a career in accounting.
WHAT IS A PROFESSIONAL ORGANIZATION?
Professional organizations are nonprofits that seek to further a particular profession,
the members of that profession and (usually) the public interest. They are often
involved in certification programs (e.g., CGMA and CMA), statuary licensing (e.g.,
CPA) and regulating the profession. For example, the WICPA is very engaged
with Wisconsin’s Accounting Examining Board, which is responsible for
licensing public accountants and enforcing ethical standards within
the profession.
Since there are many professional organizations, even within
the accounting discipline, it’s wise to carefully examine their
mission, and purpose, before joining. The focus of these
organizations includes public accounting, internal auditing,
fraud examinations and financial analysis. Examples include
the American Institute of Certified Public Accountants
(AICPA), Institute of Management Accountants (IMA),
Association of Chartered Certified Accountants (ACCA,
United Kingdom) and the Wisconsin Institute of Certified
Public Accountants (WICPA). (Note: Each state or licensing
jurisdiction has a corresponding professional accounting
institute or society.)
WHAT ARE THE BENEFITS OF JOINING A
PROFESSIONAL ORGANIZATION?
The adage “it’s not just what you know, but who you
know,” certainly applies to membership in a professional
organization. Thus, the top three reasons for joining are:
www.wicpa.org
news for the cpa2b • February–August 2014
1. Networking opportunities
This is probably the most basic and important function
of professional organizations, providing a mechanism for
people in the same profession to gather and exchange
ideas of mutual interest. Building relationships with other
professionals is also important as economic downturns
affect job availability, promotion opportunities
and operating budgets. Finally, it’s possible that
these interactions will lead to other business
opportunities that aren’t publicized. Often,
professional organizations are the first
places people turn to for assistance within
a specific profession, particularly in
accounting, because of the brand value
associated with the CPA designation.
2. Professional development and
career advancement
One of the most important ways
that professional organizations add value
to members is by offering a wide range of
educational and advancement opportunities for
competency enhancement, including annual conferences
and banquets, technical workshops, and self-paced
instructional materials for individualized learning.
Some of the annual technical conferences conducted
by the WICPA focus on an annual taxation update and
the unique features found in financial institutions.
Others are designed specifically for school district
auditors and accountants in the not-for-profit
and health care industries. Participating in these
activities will increase your marketability by
staying on top of industry trends and
technologies.
Many professional organizations
serve as advocates for their members
and the profession with government
agencies and officials. These officials
often rely on the knowledge
and expertise in professional
organizations. A recent example in
Wisconsin was the WICPA’s active
role in assisting state legislators in
addressing the differences created
by the use of Generally Accepted
Accounting Principles (GAAP) for
budgetary compliance.
3. Professional issues updates
One way to keep current with professional
developments is to interact with one’s
peers at technical conferences and in discussion forums.
This is especially important in knowledge-intensive
professions like accounting and in business environments
that are complex and constantly changing. Professional
organizations typically provide print and electronic
communications to help their members better serve their
clients better. The WICPA publishes On Balance, a bimonthly
magazine with technical and general interest articles; The
Bottom Line, a biannual magazine with seminar, conference
and online education opportunities; and CPA2b, a biannual
newsletter for college students.
WHAT ARE THE COSTS OF JOINING A
PROFESSIONAL ORGANIZATION?
Obviously, the most easily identified and tangible
costs associated with professional organizations are
their membership dues. These are usually lower for new
members (or first-time attendees), but escalate as you
progress and gain experience in the profession.
Other costs include seminar and conference registration
fees and subscription costs for publications, although
most organizations like the WICPA include publications in
the membership dues. Some costs are intangible, like the
opportunity cost of serving on committees or task forces,
participating in the governance of the organization and
attending conferences.
CONCLUSION
All of the benefits and costs previously mentioned
should enter into one’s person decision whether to join
a professional organization. And, in our opinion, every
member of a defined profession has the responsibility to
participate and give something back to that profession.
Joining a professional organization allows members to have
a larger influence on their profession and societal matters
related to their profession rather than going it alone.
Robert A. Gruber, Ph.D., CPA, CGMA is a professor and
Master of Professional Accountancy program coordinator at
the University of Wisconsin-whitewater. Contact him at
262-472-5463 or gruberr@uww.edu. Cindy J. Gruber, CPA, MBA
is an accounting instructor at Marquette University. Contact
her at 414-288-1466 or cindy.gruber@marquette.edu.
88
19
Congratulations graduates!
The following students will graduate this spring from their respective universities.
We wish you great success as you begin your accounting careers.
Maksim Artemchik, UW-Milwaukee
Robert Bellile, UW-Oshkosh
Andrew Bezouska, J.D., UW-Madison
James B. Boutelle, UW-Whitewater
Anne Christianson, UW-Madison
Joshua Farnam, Concordia University
Kendra Gabrielse, UW-Whitewater
Timothy A. Gorecki, Herzing University
Dustin J. Hess, UW-Whitewater
Amanda Isken, Marquette University
Eric S. Kershaw, UW-Whitewater
Kelsey M. Miller, UW-Milwaukee
Tiffany Nytes, Globe University
Joseph Paulus, UW-Whitewater
Xinjing Peng, UW-Whitewater
Jennifer L. Rampolla, UW-Milwaukee
Dominic J. Schuh, UW-Green Bay
Amanda Senkbeil, UW-Whitewater
Eddie Sparkman III, UW-Milwaukee
Kristina Stankevich, UW-Whitewater
Danelle K. Sutter, UW-Whitewater
Amy Talmage, KMTSJ, Inc., Altoona
Rebecca L. Tyson, Marian University
*This list comprises WICPA student
members who have indicated to the
WICPA their graduation date.
Here’s your chance!
Win
me!
Would you like to win
an iPad mini?
Take a short survey about our student newsletter,
News for the CPA2b, and you will be entered
for a chance to win.
delivr.com/2tk88
*College students AND college accounting instructors are
encouraged to participate. One student AND one instructor
will each win an iPad mini and a $25 iTunes card.
www.wicpa.org
news for the cpa2b • February–August 2014