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2016 Pittsburgh Mid-Year Accounting and Tax Update

June 16, 2016
DoubleTree Hotel & Suites, Pittsburgh City Center
One Bigelow Square
Pittsburgh, PA  15219
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Lydia Humenycky
(412) 315-2342
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  • Summary
  • Agenda
  • CPE Information

Registration for this event is now closed. Please contact Lydia Humenycky at lhumenycky@bdo.com with any qusetions. 


BDO USA, LLP invites you and your colleagues to a complimentary CPE-qualified program. Take advantage of this unique opportunity to hear from our accounting and tax leaders. Join fellow accounting and tax professionals in learning ways to help maximize tax savings and effectively manage financial reporting. This seminar highlights timely mid-year updates and provides key takeaways on hot topics relevant to both public and private companies.

We hope you will walk away from the event having established relationships with new contacts who will be beneficial to your personal and professional growth.

Please Note: Some breakout sessions have closed due to limits on room capacity.
7:30 AM to 8:00 AM   Registration and Breakfast

 
8:00 AM to 8:10 AM   Welcoming Remarks

 
8:10 AM to 9:00 AM   Cybersecurity: What Should Companies Be Doing to Prepare?

 
9:00 AM to 9:50 AM   Ethics in Valuation Matters

 
9:50 AM to 10:40 AM
 
The Wait is Over - The FASB has Issues the New Lease Standard

 
10:40 AM to 11:30 AM   Sourcing, Screening and Selecting Your Future Workforce

 
11:30 AM to 12:00 PM   Lunch

 
12:00 PM to 12:50 PM  

Panel Discussion
Becoming the CFO: The Role and its Responsibilities 


 
1:00 PM to 1:50 PM









 
 

Breakout Series 1

Option 1: Latest Nonprofit Accounting and Financial Reporting Developments 
PLEASE NOTE: This session will last from 1:00 PM – 2:50 PM minutes 
and is worth 2 credit hours. This breakout will be a live webinar broadcast
rather than an in-person session. You MUST select the same session in series two
if you sign up for this session. 
(registration closed)

Option 2: Alternative Liquidity Strategy for Business Owners (registration closed)
Option 3: ASC 740, Accounting for Income Taxes, Current Developments & Advanced Topics


 
2:00 PM to 2:50 PM








 
 

Breakout Series 2

Option 1: Latest Nonprofit Accounting and Financial Reporting Developments
PLEASE NOTE: This session will last from 1:00 PM – 2:50 PM minutes 
and is worth 2 credit hours. This breakout will be a live webinar broadcast
rather than an in-person session. You MUST select the same session in series one
if you sign up for this session. 
(registration closed)

Option 2: The Income Approach to Business Valuation in Litigation Matters (registration closed)
Option 3: Unclaimed Property: The Essentials of Escheatment


 
3:00 PM to 3:50 PM




 
  Breakout Series 3

Option 1: Doing More with Less with Effective Vendor Management Programs
Option 2: Megatrends in Manufacturing:  What to Expect by 2036 (registration closed)
Option 3: Base Erosion and Profit Shifting (BEPS):  The Changing International Tax Landscape (registration closed)
GENERAL SESSIONS
 
Cybersecurity: What Should Companies Be Doing to Prepare?
(1 Credit Management Advisory Services)
Cybersecurity is rapidly evolving. Attackers are more sophisticated. Breaches are increasing in frequency. Breaches are no longer just happening to large organizations, but are affecting mid-size and small companies across all industries, for a variety of incentives beyond financial gain. Regulators are beginning to expect organizations to have established effective cyber risk management programs. Organizations need to be prepared.
 
Ethics in Valuation Matters
(1 Credit in Ethics)
In tax, merger and acquisition, and litigation matters, valuations may not appear to reflect the true value of a company.  These situations bring to light concerns about the manner in which valuation determinations are developed, and concerns relative to judgment, for both the valuation practitioner and others to consider. This session will highlight concerns regarding judgment used in the development of a valuation opinion, the valuation professional standards, and specific case examples, including the recent Delaware Chancery Court decision, where valuation misstatements were identified.  
 
The Wait is Over – The FASB has Issued the New Lease Standard
(1 Credit in Accounting)
The session will aid participants in gaining an understanding the one of the most significant and pervasive recently issued accounting pronouncements.  We will discuss the types of leases described by the standard and the accounting requirements for each.
 
Sourcing, Screening and Selecting Your Future Workforce
(1 Credit in Personnel/HR)
This session is geared towards participants developing an understanding and practical insights into hiring the best talent available in a talent constrained market.  Throughout this session we will focus on providing an understanding of how to source and screen talent for a higher performing team.
 
Becoming the CFO: The Role and Its Responsibilities
(1 Credit in Business Management & Organization)
Talent recruitment, retention, and development are issues that traverse industry and business lines, from entry level openings to the CFO suite.  There is ample opportunity for skilled finance professionals to quickly grown their careers in a dynamic marketplace that is looking for innovative individuals who can respond to an ever-widening array of both technical and organizational challenges.  Our panel seeks to reveal the major themes the C-suite, executive search firms, and HR Advisors are looking for in rising CFO candidates: What challenges they should be prepared to solve; what hard and soft skills sets they should master; and how they are expected to add value to the business.  
 
BREAKOUT SERIES 1 OPTIONS
 
Latest Nonprofit Accounting and Financial Reporting Developments
(2 Credits in Accounting)
PLEASE NOTE: This session will last from 1:00 PM – 2:50 PM minutes and is worth 2 credit hours. This breakout will be a live webinar broadcast rather than an in-person session; Pittsburgh Nonprofit Industry Leaders will be on hand to address questions directly after the broadcast.
 
Hear from Lee Klumpp, BDO’s Nonprofit Audit and Accounting Technical Director and recent FASB Fellow, who was part of the Nonprofit Financial Reporting Project, as he and Ken Euwema, Vice President, Comptroller of United Way Worldwide as they discusses the Financial Accounting Standards Board’s (FASB), NFP Financial Statement Presentation Project including an overview of the project’s current status and what the effect might be on the horizon for nonprofit entities.
 
Alternative Liquidity Strategy for Business Owners
(1 Credit in Tax)
This session will be an overview of the ESOP structure (particularly the S-Corp ESOP structure).  This discussion will highlight a case study that provides a clear liquidity option for business owners who want to sell, but not give up control of the business.
 
ASC 740, Accounting for Income Taxes, Current Developments & Advanced Topics
(1 Credit in Tax)
This session will review recent developments in the accounting for income tax area, review of regulatory environment as well as a look at some issues that have come up in the practice. The session draws from actual cases from practice.
 
BREAKOUT SERIES 2 OPTIONS
 
The Income Approach to Business Valuation in Litigation Matters
(1 Credit in Specialized Knowledge and Applications)
The Income Approach to business valuations applies when earnings and cash flows are a primary consideration to an investor, and future performance is more indicative of value than balance sheet attributes.  The income approach establishes value by discounting or capitalizing future anticipated benefits, such as cash flow, at market rates of return consistent with a Subject Company’s risk profile.
 
Unclaimed Property: The Essentials of Escheatment
(1 Credit in Tax)
Unclaimed property rules and regulations can be challenging to understand across companies, specifically the responsibilities related to the escheatment of abandoned property.  Throughout this session we will focus on providing an understanding of unclaimed property, including how its rules and regulations relate to specific industries, typical property types and ways to mitigate overall unclaimed property exposure.  
 
BREAKOUT SERIES 3 OPTIONS
 
Doing More with Less with Effective Vendor Management Programs
(1 Credit in Management Advisory Services)
Companies are increasingly relying on a complex ecosystem of (global) third parties for critical business services. While achieving cost reductions and lower working capital levels, firms have increased their financial, operational, compliance and reputational risk exposures through these arrangements. (CEB 2013 Audit Plan Hot Spots).  Through an effective vendor management and audit program, Internal Audit can help mitigate the ever increasing risks to their organizations.
 
Megatrends in Manufacturing:  What to Expect by 2036
(1 Credit in Specialized Knowledge and Applications)
Several megatrends are expected to significantly impact the manufacturing sector over the next two decades. Some trends could bring new life to traditional value chains through new capabilities for individual manufacturers and manufacturing clusters; others, on the other hand, are expected to present significant challenges. The one common thread is that all manufacturers, regardless of size, need to be aware of these megatrends and evaluate how and when it will impact their business, their customers and their supply chain.
 
Base Erosion and Profit Shifting (BEPS):  The Changing International Tax Landscape
(1 Credit in Tax)
It is important for US Companies doing business outside the United States to understand how the BEPS initiative will affect their operations throughout the world.  This session will address the 15 point BEPS initiative as proposed by the OECD and its impact on taxpayers.
 
Delivery: Group Live
Prerequisites: None
Advanced Prep: None
Credits: 8 total CPE credits
Program Level: Basic
BDO USA, LLP 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.learningmarket.org