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September 20, 2016

Brad Hale, Managing Director with CBIZ & MHM Tampa Bay, will speak at the 2016 Accounting & Business Show held on September 28-30th at the Broward County Convention Center in Ft. Lauderdale.  The 2-day conference includes presentations on a variety of accounting topics, including FASB updates, Social Security for CPAs, sales & use tax trends, auditing standards board updates, R&D tax credits, data security best practices, federal tax updates, and succession planning, among others.  

Brad will be presenting on the key takeaways from implementation projects on the new revenue standard.  The presentation will focus on practical application of the new revenue recognition standard through the use of examples and stories from active implementation projects.

To register for this conference, visit the FICPA registration website here.  For more coverage of the event, search #ficpaABS and follow the FICPA on Twitter @FICPA.



April 28, 2016

The Memphis office will host a full-day CFO & Controller Conference focused on the ever-changing role of The New CFO.

National speakers, economists, and advisors, along with a panel of local CFOs will share their insights into what the modern CFO should be prepared to face as the role of CFO attracts more business complexity.

The following topics & speakers will be featured in 50 minute sessions:

Executive Compensation in Privately-Held Companies: Best Practices in Today’s Competition
Hal Wallach – Director of Executive Compensation Consulting, CBIZ Human Capital Services

Trends in Cash Automation
Henry Siler – Senior Vice President, Bank of America Merrill Lynch

How to Positively Impact Business Outcomes Through Improved Employee Wellbeing
Emily Noll – National Director of Wellness, CBIZ MHM, LLC
Amy HowellCorporate Wellness Specialist, CBIZ Benefits & Insurance Services

Current Trends in Tax Planning
Lloyd Grissinger – Lead Managing Director & Tax Practice Leader, CBIZ MHM, LLC
Mark Baricos - Managing Director, CBIZ MHM, LLC

An Accountant, A Broker, and A Banker Discuss FASB’s New Leasing Standard 
Brad Hale – Managing Director, CBIZ MHM, LLC 
Kelly Truitt – Senior Vice President, CBRE 
Bruce Clark – Vice President, Bank of America Merrill Lynch

The program will close with a panel of local CFOs who have played a strategic role in the mergers and acquisitions process at their respective companies and throughout their career.  

The event will take place May 17th at The University of Memphis FedEx Institute of Technology.  Registration will begin with a breakfast at 7:30 a.m. and the event kicks off at 8:00 a.m., giving participants eligibility to earn a total of 7 CPE Credits throughout the full-day event.

For more information and to register:
https://cbizmhmcfoconference2016.eventbrite.com/

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




September 23, 2015

This seminar will include discussions surrounding the following topics:


FASB Update and Simplification Project


FASB's New Revenue Recognition Standard


Going Concern - A New Accounting Standard


Report from the Hill - Legislative Update


IRS Update


Judicial Update

 




June 15, 2015

Traditionally, the campus recruitment process is socially driven, so how does someone who doesn’t necessarily thrive in this environment set themselves apart as a viable candidate?

This is the question our local Recruiting Manager, Roxanne LaMonica, aimed to answer when she assembled a team of CBIZ & MHM staff to develop and pitch the idea of the 2015 CASE Competition, a program designed to attract, challenge and identify recruits who are more technically driven. To start, LaMonica reached out to three area colleges to identify partners in helping to promote this event. The University of Missouri Career Services was very enthusiastic and agreed to partner with CBIZ & MHM on this initiative. 

The Program
The event was promoted on the MU campus for a month and attracted more than 20 interested applicants. Participants were then divided into teams and asked to research and make a recommendation on how changes to the revenue recognition standards would impact a specific industry. Teams then had a few days to research their topic before presenting their findings and recommendations to a panel of experts including CBIZ & MHM leadership, in addition to Vairam Arunachalam, Director of the School of Accountancy at the University of Missouri. 
 
The Result
Through the presentation and Q&A response process, "it was clear we had attracted and engaged top talent and, as a result, we are now actively pursuing several of them," commented LaMonica. Our partnership with MU Career Services not only provided those more technically driven a chance to thrive in a different recruiting environment, but also provided the opportunity for CBIZ & MHM to increase our name recognition on the MU campus. This event generated positive results and is a concept we are actively pursuing on other college campuses.




June 4, 2015

In 1997 Joyce Farris, Managing Director and current leader of our Kansas City Construction Industry group authored an article which appeared in the May - June edition of The Builders Association publication, Modern Builder. Her article contains helpful information for those considering starting their own construction company, then and 18 years later. Following is her original article – “A Few Basics for the Start-Up Company”.
So, you’re thinking about starting your own construction company. You have lots of great ideas and the technical capabilities, but what now? To some it may sound as easy as hanging out a sign and opening the office doors, but unfortunately, there are a few more behind the scenes items for you to think about.

Develop A Cash Flow Plan:
Developing a cash flow plan should be your first objective when considering a new company. Cash flow is merely cash coming in to the business and cash going out of the business. There never seems to be a problem with figuring out how to spend cash in a start-up company – the need for supplies, hiring of personnel, leasing office space, phone lines, utility deposits, etc. The problem is where to get the funds to start with. A decision should be made on how much of your personal savings you will need to invest in the company and whether you will also seek outside financing.

Before you can seek outside financing you will need to develop a business plan or a cash flow projection. A projection is a tool for mapping out when you will be required to expend cash in relation to when you will receive cash for the work performed. As you estimate cash inflows, consider seasonality of your work, sales history of similar businesses, and the overall economy. In determining the cash inflows and outflows, remember that you may have to spend the money to do the job before you can bill anyone and expect to receive payment. The major issue in developing a projection is to be realistic.

There are several sources for outside financing from friends, family, banks to the Small Business Association. Regardless of whom you reach out to, you will need to demonstrate that you have a sound business plan. Know “how much” you will need, “how long” until you would be able to start repaying the borrowed funds and “for what” the borrowed funds will be foremost on any lender’s mind.

Seek Advice From Your Accounting and Legal Advisors:
Now that you’ve developed your business plan it is time to consider what type of legal and tax entity would best fit your needs: an S-corporation, C-corporation, Partnership, LLC or Sole Proprietorship? The differences in the entities mainly involve the method for reporting and payment of tax and the business liability that you as the business owner are willing to accept. A discussion with both your accounting and legal advisor will provide you with the best options for your situation.

Once the entity type is decided, your advisors will draft and file articles of incorporation for the company, if necessary, and file for federal and state I.D. numbers. The I.D. numbers are a company’s equivalent to an individual’s social security number. The I.D. numbers will be required for  opening bank accounts, filing payroll and sales tax returns, and filing federal and state income tax returns.

Develop a Financial Information System:
Financial information lets you track the profitability of the company and the cash flow requirements. Accurate financial information is essential for you to make management decisions and is imperative if you intend to continue to borrow money or bond jobs.

At first, you may wish to have outside accounting company prepare the payroll and payroll tax returns or to perform all of the accounting functions. This type of arrangement is termed “outsourcing”. Outsourcing is well suited for start-up companies as it allows for accurate and efficient accounting records to be maintained while allowing the company to hire limited accounting and administrative personnel.

However, if you prefer to hire the administrative personnel and prepare the financial information in-house, then you will need to select an accounting system to fit your needs. As you select a system, leave room to grow and consider any special information tracking you require (i.e. job costs). In addition, you will need to consider the information that you will need to supply to the users of your statements – bankers, bonding companies, investors.

Develop Relationships With Other Professional Advisors:
Throughout the stages of your company, you will have a need for insurance or bonding and a good insurance advisor can help you determine how much coverage you need, when you need it and how to pay for it.

Other advisors, such as marketing consultants, may be needed at some time during the life of your business. In choosing any professional advisor, consider someone who understands your industry and who understands your needs as a start-up company.

Now that you have administrative basics out of the way, it’s time to open the doors.




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