2. SSARS 19      

3. Dual Monitor Laptop is Out!!

4. Software Releases

We dealt with the most poorly written tax credit in history-the new home credit.

We dealt with a Congress that has set new records for ineffectiveness.

We dealt with, and are still dealing with, a Congress that has still not passed an estate tax bill for 2010.

We dealt with an economic recession that has sent the franchise tax preparation offices into a tail spin, and West and East coast firms into layoff positions.

Yet-we are still here, it was a decent year for most of us, the sun is shining and tax season is over! Hallelujah!

With your permission we are going to do a short set of questions and answers about tax season in an email this week-if you feel like participating please respond to the short questions regarding tax season (We will keep everything confidential of course) and we will provide the results later in the year.

I figure that by now most of you have had enough with taxes, so this newsletter will be 100% totally non-tax, with just a quick update on some major changes out there in ancillary fields.

Over 30 years ago the AICPA established the rules for reporting on unaudited financial statements known as SSARS.

1. Materiality is now defined for compilations and reviews.

2. A written engagement letter is now required,

3. Workpaper requirements have been substantially increased,

4. All prior versions of accountant's reports for compilations and reviews have been substantially modified,

5. Many other smaller changes have been made.

What does this mean to a practicing accountant? All of your accountant's reports are changing now, properly worded engagement letters are changing now, and you better watch your workpapers. The changes go into effect in December of this year.

Our 2010 Compilation & Review courses will have as a primary focus detailed analysis of this change from the point of view of a small firm practitioner. And yes, we will provide you with all the new letters, reports and workpaper guidelines you need. The schedule for live classes:

May 17           Des Moines, IA-Sponsored by AAI                           

June 3            Portland, OR-Sponsored by OAIA

June 7            Clarksville, IN training center & live webcast

June 10          Grand Rapids, MI-Sponsored by Lettinga

June 21          Madison, WI-Sponsored by WAA

June 24          Fargo, ND-Sponsored by NDSA

August 2        Clarksville, In training center & live webcast

August 16      Chicago (Tinley Park, IL)

August 23      Indianapolis, IN & live webcast

Sept. 24         Perham, MN-Sponsored by MNCPA

Dec. 31          Clarksville, IN training center & live webcast

We are also presenting a very rare 2nd day accounting course in selected cities titled "Small Firm Accounting Issues" in which we take a real client and their real documents and workpapers, and rip them apart, preparing Tax basis financials, full disclsoure financials, reviewed GAAP financials, providing workpapers, checklists, peer reviews, you name it.

June 8             Clarksville, IN training center & live webcast

June 22           Madison, WI-Sponsored by WAA

Finally, our annual Accounting & Auditing update with Jeff Sailor, which is oriented to GAAP and reviews/audits will be presented in our Clarksville, IN training center live and via Streaming Webcast on September 8.

After running it for two months-I love it. It is small, very practical and has a very functional keyboard. I also have found the wireless system works better than on any other laptop I have ever used. The efficiencies the dual moniotr system provide are fabulous. The screen sizes are 10.3" each.

Negatives are heat and processing power, neither of which are a major issue. We will be using and displaying it at all of our Technology seminars this year.

The "What's New" section of the Technology course is the biggest ever-we made so many efficiency producing changes in the office this year with the newest technologies that I can't wait to talk about them, as usual. We will visit Windows 7, the above laptop, cloud computing, Office 2010, Internet cameras, wireless broadband routers, Mi-Fi, wireless USB, IPad, Wireless extension software and hardware, web portals (again), our complete office change-over to video web phones and more. I honestly think this chapter could take us nearly the entire day, and I can guarantee the ideas this year will blow you away with cost savings, profit-inducing efficiency changes, and speed-inducing upgrades.