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June 8, 2016

In the part one of this series, Brad discussed frequently asked questions about the new revenue recognition rules and what they entail.

In part two of this three part series covering the latest in revenue recognition, Brad Hale, Tampa Bay Managing Director, discusses some of the challenges that businesses will face as they begin to implement the new standard, and some solutions to alleviate these challenges.

One of the biggest challenges many businesses will face with this standard is finding out where to start. To help with the process, establish a cross-functional team and conduct a brainstorming session to identify the company’s key revenue streams and what they impact. Work together with the cross-functional team established to develop the best approach for implementation and put together a timeline with deadlines, assigning someone to lead the transition. Be sure to involve the cross-functional team, as various departments from across the organization will need to get involved.

As noted in part one of this series, certain industries will be affected more than others. However, all companies will be impacted by the new standard in one way or another. The most important takeaway here is to get started now!

Stay tuned for part three in this series that will discuss ways businesses can prepare for the revenue recognition standard during the deferral period. To read the full article, click here. For more information on how to adopt the new revenue recognition standard, click here or contact Brad at bhale@cbiz.com or 727.572.1400.



June 3, 2016

CBIZ MHM is proud to announce the addition of Tom Rieger as Business Development Manager for its Memphis office.

Tom joins CBIZ MHM with more than 15 years of experience in business development, project management and fundraising.  He most recently served as Senior Vice President of Membership at the Greater Memphis Chamber.  Prior to that, Tom provided strategic consulting services and fundraising for many of the top 20 Chambers in the United States.

Tom’s role at CBIZ MHM will be to support and expand the organization's organic growth model through lead generation and cross-serving.

“Tom’s experience in consultative selling and creating collaborative relationships will be a great asset to our expanding office,” said Eustis Corrigan, Senior Managing Director in Memphis.  “His addition brings depth to our abilities to strengthen our current client base and build new business relationships in a market that is a critical growth engine for CBIZ MHM.”

Connect with Tom on LinkedIn here.



June 1, 2016

Information security presents a particular challenge to hospitals, physician practice groups, ambulatory care centers and other healthcare organizations. Unauthorized users have shown high interest in healthcare records and data, and according to the Ponemon Institute, the cost of breached healthcare data can be upwards of $363 per record. Additionally, healthcare organizations have rigorous compliance requirements they must regarding protection of patients’ sensitive data.

Securing information from hacker groups and staying compliant with federal agencies requires a robust risk management strategy. A key component of any risk approach is to focus on the areas of highest interest to your organization. The Health Insurance Portability and Accountability Act (HIPAA), information technology and physical loss of data number among the three most common information security risks healthcare organizations are up against. Steps should be taken to evaluate these three areas and the processes your organization is using to manage them. Read the full article.




June 1, 2016

Saturday, May 21, 2016 was CPA Day of Service statewide across Florida hosted by the Florida Institute of Certified Public Accountants (FICPA). Ten employees from our Tampa Bay practice volunteered to give back to the community by participating in two home builds for Habitat for Humanity in Pinellas County.

Altogether, more than 190 CPAs with their family members and friends gathered to give back to 14 different Florida communities on the 2016 CPA Day of Service. “CPA Day of Service is a great way for CPAs to unite for the greater good of a community,” said Jessi Levine, 2015-16 Young CPA Committee Chair and Manager at CBIZ MHM Tampa Bay. “We could not have done it without the many volunteers who showed up with smiles and ready hands to make Florida a better place to live and work!”

For more coverage of the event, search#CPADayofService on Twitter. For more information about community involvement in our Tampa Bay practice, visit our website.



May 26, 2016

The CBIZ MHM Tampa Bay Career Academy Program was held May 9th and 10th at the Hilton in downtown St. Petersburg. The two-day program is designed specifically for accounting students to help them identify the skills they have, how to identify and work with the skills of teammates, and how to further develop the skills needed as they embark on their careers.

Tampa Bay experts lead sessions focused on learning how to work collaboratively in a professional setting. Highlights from this year’s program included a LinkedIn seminar, The Go Game team building exercise, networking best practices, and a career management group project. The students were also taken on a client tour at Great Bay Distributors.

For more information about our Career Academy and how to join our Tampa Bay team, visit our Campus Recruiting page.





May 24, 2016

100 participants wrapped up the CFO & Controller Conference May 11th at USF Health, CAMLS with a better understanding of the CFO’s role in mergers and acquisitions.

The morning kicked off with experts discussing buy-side, sell-side, and transaction advisory expectations of a CFO when dealing with mergers and acquisitions. For a full lineup of speakers, click here.

The program closed with a panel of local CFOs discussing best practices in mergers and acquisitions. This panel included Andy Demott of Superior Uniform Group, Doug O’Dowd of Xcelience, Steve Torres of Vology, and Kris Wiebeck of Baldwin Risk Partners. This session was moderated by Dave Enick, Managing Director of CBIZ MHM Tampa Bay. Margie Manning, Finance Editor of the Tampa Bay Business Journal, covered the panel and perspectives from each of the CFO’s on what it’s like to buy a company, what it’s like to be acquired and how to prepare for being on either side of a deal. To read the full article, click here.

For more information regarding this Conference, search #CFOConf on Twitter.



May 19, 2016

On June 2nd the Kansas City CFO group will host their second quarter breakfast event, featuring retiring Burns & McDonnell CEO, Greg Graves.

During this interactive discussion, Greg will focus on the explosive growth Burns & McDonnell has experienced over the last 12 years, the finance role and how it plays into leadership and growth, and much more!

For more information and to register, click here.




May 12, 2016

On Thursday May 12th, the Kansas City Construction Practice kicked off their summer breakfast event series with a discussion focused on Key Employee Incentive and Retention Plans – Creating a Motivated Management Team.

Key employees can be hard to find and even harder to keep. High-caliber employees drive the generation of profit and enterprise value, and can be a vital piece in a successful ownership transition. As a business owner, identifying these employees, understanding what motivates them to remain loyal, and encouraging them to stay the course, is critical to your company’s future, your financial independence and your personal legacy.

 While higher pay seems like the best answer, it doesn’t stop competitors from offering even higher pay or better opportunities, it doesn’t encourage the leadership mentality and it doesn’t invoke loyalty – in many cases an incentive or retention plan may be the best solution.  It is important to first understand what motivates your high-caliber employees and then design an effective plan that will benefit both the employer and employee. During our discussion today, Joyce Farris outlined a variety of different plan options and decisions to weigh as you go down this path.  To summarize, no matter what type of plan you institute, the plan should: 

  • Motivate key employees to attains goals and as they do, the company value should increase;
  • “Handcuff” the key employee to the company;  
  • Outline meaningful and realistic objectives that are well-communicated;
  • Provide substantial benefits and should be a win for both the employer and employee; and 
  • Provide specific guidelines on how to achieve the benefit (s).

To receive a copy of today’s presentation, for questions on this topic or for additional information, please contact Joyce Farris at 816.945.5121 or jfarris@cbiz.com

Save the Date for Part II in the Construction Breakfast Series: Employee Stock option Plans (ESOPs) in the Construction Industry, July 12th.




May 3, 2016

CBIZ MHM, LLC Kansas City will launch a three part breakfast series focused on key issues affecting the Construction Industry.

Key employees can be hard to find and even hard to keep. They drive the generation of profit and enterprise value, and can be a vital piece in a successful ownership transition. As an Owner, understanding what motivates key employees to remain loyal, is critical to your company’s future, your financial independence and your personal legacy. Join us on May 12th for the first discussion of this three part series, Exploring Key Employee Incentive/Retention Plans.

Date and Time: Thursday, May 12 | 7:00AM – 9:00AM (continental breakfast will be available and discussion will start at 8:00AM).
Cost to attend: FREE
CPE: Eligible for 1 credit
Register: https://incentiveandretention.eventbrite.com

SAVE THE DATE
Tuesday July 12th – Employee Stock Option Plans (ESOPs) in the Construction Industry
Tuesday, August 30th – Leases
Thursday, November 3rd: Joint ½ day seminar featuring a variety of topics surrounding Millennials in the workforce




May 2, 2016

More than 70 CFOs and Controllers are gearing up for the CBIZ & MHM CFO Conference to be held next week at USF Health, CAMLS in downtown Tampa. 

Four CFOs are slated to close the half-day conference with a Q&A session and give insight into what the modern CFO should be prepared to face at the deal-making table.

This conference will be the first of its kind hosted by the Tampa Bay office.  The May 11th event will focus specifically on the CFO’s role in mergers and acquisitions.

Bob Bukala of Foundation Partners

Bob is the Chief Financial and Administrative Officer of Foundation Partners since 2012. He brings over 30 years of financial and managerial expertise to his role.


Andy Demott of Superior Uniform Group

Andy is the Chief Operating Officer of Superior Uniform Group and also serves as the company’s Chief Financial Officer and Treasurer.  Andy joined Superior Uniform Group in 1998 and plays an integral role in improving overall operational performance. Andy has been key to the development and implementation of corporate strategy. During his tenure, he has managed multiple significant acquisitions.

Doug O’Dowd of Xcelience

Doug joined Xcelience in 2012 as the company’s first Chief Financial Officer.  Doug has extensive experience working with small to medium sized companies in a variety of industries, both in the US and internationally.

Steve Torres of Vology

As Vology’s COO, Steve oversees all financial, operational and HR functions, including strategic planning, accounting and reporting, taxes, mergers and acquisitions, risk management, business intelligence, purchasing and logistics management. Steve brings a wealth of strategic leadership experience to the company, including expertise in public and private capital offerings, financial and operational transformations and regulatory compliance expertise, specializing in SEC and Sarbanes-Oxley compliance.

For more information and to register:
https://tampabaycfoconference.eventbrite.com/

Can't attend the event?  Follow along with the conversation on Twitter using #CFOConf



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