FMN - January Session

You are invited to attend a continuing education (CPE) event for accounting and finance professionals. The program allows you to earn four hours of CPE credit, keep up-to-date on accounting and finance issues and network with other professionals.

Here are the January 2020 topics:
Technology and the Changing Role of the CFO
Field of Study: Management Services
The role of the CFO is increasingly shifting from a functional role to one of strategy.
And taking advantage of emerging technology is a big part of that change. The CFO
needs to be adept at leveraging today’s technology and using the improved tools that it
offers to gain better insights into operations in order to make more informed decisions.
Ajit Kambil, Managing Director and CFO Program R&D Leader and Khalid Kark,
Research Director for the CIO Program, both with Deloitte, explain how technology is
transforming business today. They also outline the things the CFO will need to do to use technology to reshape the finance function.

The SEC: Office of the Chief Accountant Update
Field of Study: Accounting
Our FMN crew was on hand at the recent Financial Executives International’s Current Financial Reporting Issues conference where they recorded the keynote presentation by Sagar Teotia, Chief Accountant, U.S. Securities and Exchange Commission. Mr. Teotia shared his thoughts on the role of the Office of the Chief Accountant and some of the trends and priorities the SEC is working on. Topics covered also included the SEC’s working relationship with the FASB and the PCAOB, international matters, a high level review of the recent accounting standards releases, the rule making process, and the use of non-GAAP measures.

Process Tips to Increase ICFR Effectiveness
Field of Study: Accounting
Internal control over financial reporting continues to be an intense focus of regulators. Are there actually benefits to a company of a more proactive versus a reactive system towards internal controls, or is it just a compliance exercise? Ron Kral, a partner with Kral Ussery LLC, reviews the related purposes and benefits of internal control over financial reporting. Kral answers the question of why some companies succeed while others struggle with their system of internal control. He offers five tips for increasing the effectiveness of an organization’s ICFR process.

Suspension of Various Itemized Deductions and More
Field of Study: Taxes
In November 2019, the IRS issued Revenue Procedure 2019-46 to update Revenue Procedure 2010-51 related to rules for using optional standard mileage rates for business, charitable, medical or moving expense deductions. The modifications are made to reflect changes made to Internal Revenue Code (IRC) sections 67 and 217 by the Tax Cuts and Jobs Act (TCJA). Those changes removed the ability for taxpayers to deduct miscellaneous itemized deductions and moving expenses through 2025. Edward Zollars, a partner with Thomas, Zollars & Lynch, Ltd. and a discussion leader for Kaplan Financial Education, gives our viewers an overview of the new guidance.

Cost: $40 (check made out to "IMA" or cash); pay at event
Food: Full breakfast and lunch included in the cost
Dress Code: Casual

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