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May 27, 2015

For most companies, the amount of revenue that is earned is an important metric and is closely monitored by senior management, owners, investors and lenders. However, recognizing revenue in financial statements can be a complex and challenging exercise because of the complexity of the standards and estimates that must be evaluated. This complexity has increased as a result of the Financial Accounting Standards Board (FASB) issuing in May 2014 the Accounting Standards Update 2014-09 Revenue from Contracts with Customers (Topic 606), which replaces virtually all existing revenue recognition guidance in U.S. Generally Accepted Accounting Principles (U.S. GAAP).

 

We are committed to helping you navigate this complex and critical issue. For many, the new standard — the first part of which is 156 pages long — will require significant effort to read, understand and apply to the financial reporting process. Our most recent Biz Tips video, How to Adopt the New Revenue Recognition Standard, is designed to help you learn about the new guidance and how it affects your business in an easier way.

 

If you have further questions regarding the new standard, feel free to contact Brad Hale, CBIZ MHM Managing Director, at 727.572.1400 or bhale@cbiz.com





May 26, 2015

After a long busy season, the Memphis office of CBIZ MHM wound down with food, beverages, and a few games of cornhole at Wiseacre Brewery

 

 

 

 

 

 

Following the April tax and audit deadlines, all employees were invited to the annual Post Busy Season Happy Hour event hosted by the social committee. Food was catered via the Central BBQ food truck, and drinks were brewed in-house at Wiseacre,





May 22, 2015

CBIZ MHM Tampa Bay celebrated Administrative Professionals Day with gifts and a private event hosted at Whiskey Joe’s where our administrative staff came together for a happy hour celebration. 

Administrative Professionals Day is widely observed in many workplaces to show their appreciation of the work carried out by administrative professionals and to highlight their importance to the organization.

In Tampa Bay, we view Administrative Professionals Day as our chance to commemorate the importance of the admin team to our practice.  A big “thank you” to all of our administrative professionals for all of their hard work and for everything they do to make our practice successful!

   




May 21, 2015

A stereotypical accountant likes to spend their days focusing on the numbers – strategizing to help you grow your business. So why is it that most accountants' heart rates rise and palms start to sweat when marketing is mentioned? Aren’t the goals of marketing the same as the accountants? Focus on numbers. Focus on growth.

CBIZ Minneapolis is aiming to break through the fear barrier of marketing with the Play to Win. Marketing Game. In partnership with Ingenuity Marketing Group, CBIZ Minneapolis is finding ways to lower the heart rates of the accountants by helping them understand the concepts of marketing and business development through an interactive, collaborative five week program.

The program focuses on five different areas:

  • Client Experience
  • Business Development
  • Social Media
  • Brand Awareness
  • Thought Leadership

As the accountants step out of their comfort zone, CBIZ Minneapolis would like to help your business grow by providing tips and tools on how you, too, can use marketing and business development to help you focus on the numbers and focus on growth.

We look forward to helping you Play to Win.




May 15, 2015

CBIZ MHM, LLC announced the merging of their two Clearwater offices into one office at our Feather Sound location. The new address is 13577 Feather Sound Drive, Suite 400, Clearwater, FL 33762.

For more information about the one Clearwater location, visit www.cbiz.com/tampabay.




May 13, 2015

More than 80 CFOs and Controllers are gearing up for the CBIZ MHM CFO Conference to be held next week at the FedEx Institute of Technology on the University of Memphis campus.  Three CFOs – Todd Smith of MicroPort Orthopedics, Inc., Ann Langston of Church Health Center, and Mike Wood of EnSafe – are slated to close the full-day conference with a Q&A session, giving insight into the top concerns of CFOs.

This conference will be the fifth of its kind hosted by the Memphis office.  The May 19th event will focus specifically on the current top concerns of CFOs including economic development, succession planning, big data, cyber security, the affordable care act, and the latest tax and accounting standards. 

Todd Smith
Todd has served as VP of Finance of MicroPort Orthopedics, Inc. since its establishment in January 2014 following MicroPort Scientific’s acquisition of Wright Medical Technology, Inc.’s global OrthoRecon business. MicroPort Orthopedics currently represents MicroPort’s largest business segment specializing in the design, manufacture and marketing of reconstructive joint devices and related services. Prior to the MicroPort acquisition, Todd served in various leadership roles in Wright’s finance division and also served as VP and Controller for VisionAmerica, Inc.

Ann Langston
Ann is the Chief Strategic Officer at Church Health Center and has been with the Center since 1999. Prior to her time on staff, she served as a volunteer legal counsel and was Chair of the Board of Directors. Ann has over 20 years in the private practice of law, first in Atlanta, Georgia and last with Gerrish & McCreary, P.C. in Memphis.

Mike Wood
Mike is the VP of Finance and Administration of EnSafe, an environmental consulting firm. He has nearly 30 years of experience in financial management and has served in senior management at EnSafe for the past 18 years.  Prior to working at EnSafe, he supervised financial services provided to various municipalities, including the cities of Bartlett, Millington, and Germantown, TN.

If you would like to attend, please click here to be directed to our registration page.




May 13, 2015

There has recently been a spike in IRS impersonator scams targeting taxpayers. The IRS, Treasury Inspector General for Tax Administration, and Federal Trade Commission have all issued warnings to the public regarding this issue.

Taxpayers have been receiving calls from individuals claiming to work for the IRS and are providing fictitious case and ID numbers.  The callers are demanding payment for a tax deficiency and intimidating taxpayers with threats of imprisonment or legal action if they do not pay immediately.

Note that the IRS will never:
1) Call to demand immediate payment, nor will the agency call about taxes owed without first having mailed you a bill
2) Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe
3) Require you to use a specific payment method for your taxes, such as a prepaid debit card
4) Ask for credit or debit card numbers over the phone
5) Threaten to bring in local police or other law-enforcement groups to have you arrested for not paying
 

If you have further questions on this matter, please reach out to us at 612.339.7811.




May 12, 2015

The CBIZ MHM Tampa Bay Career Academy Summer Leadership Program was held May 7th and 8th at the Marriott in St. Petersburg. The program is designed specifically for accounting students to give them an opportunity to build the essential soft skills and attributes needed to become a successful team player and leader as they embark on their careers.

Faculty included Sandi Guy (National Director), Bill Tapp (Senior Managing Director, Tampa Bay) and Janine Smethurst (HR Manager, Tampa Bay), who lead sessions focused on identifying and learning how to enhance the skills they have and how to work collaboratively with teammates in a professional setting. Highlights from this year’s program included a LinkedIn seminar, case studies, team building exercises, networking best practices, and a social event at the Tampa Bay Rays game.

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




May 11, 2015

Not only does the Phoenix office of CBIZ MHM provide superior service to our not-for-profit clients, we also dedicate our personal time to supporting the not-for-profit community. A group of Phoenix employees recently worked with Habitat for Humanity of Central Arizona to assist in the construction of one of their latest homes. The team worked on installing all of the trim throughout the house as well as applying caulk and spackle to the trim work. It was a great day giving back and working as a team!

  

Pictured Above from left to right: Travis Magneson, Carmen Beall, Lindsey Allen, Kelly Farmer, Dave Miller, Briana Hooley, Karan Pawha and Christine Tooker, Not pictured: Max Sharp 




May 7, 2015

Although the 2015 tax deadline has passed, based on the increase of tax return fraud seen this year, Phil Zaman, based in Kansas City and Director of the CBIZ National Tax Office, recently shared some advice to mitigate risk of falling victim to these scams in future years.

“An increasingly successful technique used by scammers is filing fraudulent tax returns earlier than the average tax payer,” he told MainStreet. “The IRS generally assumes it’s valid, though they do have some [detecting] algorithms now,” continues Zaman.  If you are filing a paper return, it normally takes six weeks before being processed, “because of this, when the actual taxpayer goes to file their return, they won’t know until long after they file – when they get a notice that the IRS has bounced their return – that they have fallen victim to tax return identify theft,” warns Zaman. 

Read the full article about how to detect tax ID fraud here.




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