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CEO Corner

Dear Hannah,

The AICPA has just released its 2019 Trends Report. This biennial report identifies key trends in the U.S. for both supply (accounting enrollments and graduations) and demand (hiring of new graduates in the public accounting sector). 

On the supply side, there is good and bad news. Bachelor and graduate enrollments are down, but still at historically high levels. The number of people sitting for the CPA Exam dipped to its lowest level in 10 years. Some, but not all of that can be attributed to candidates rushing to take the Exam in 2016 before a scheduled change to its length and complexity. The good news is that our efforts at increasing diversity in the profession are starting to pay off. While enrollment by gender is nearly even at both the bachelor's and master's levels, racial/ethnic diversity has increased with the highest percentage of non-white enrollees to date. 

The demand side has shown more radical shifts. The report shows a 30% decline in hiring of new accounting graduates. As firms adapt to new technologies, they are hiring non-accounting grads to help change how they deliver tax and audit services, and to help them make that important shift to advisory services. You can download the full Trends Report here.  

We know that staffing continues to be the primary concern of many of our members, and it continues to be our focus at the Society. One of our most successful initiatives to help fill the pipeline is our Scholarship Program. Last year, we gave out $130,500 in scholarships and CPA Exam vouchers to aspiring accounting students to help ease their financial burden in the move towards becoming CPAs. All scholarships and vouchers are funded entirely by donations from firms, companies and members like you. To learn more and to give to the program, click here. We also promote the profession to high school students through our conferences, early college academy and summer awareness programs. You can learn more about these initiatives here. We will continue to work at the high school and college levels to promote the profession, and I will share updates with you on our progress.


Have a great weekend! To those of you who are observing Yom Kippur next week, I hope you have a meaningful fast!
 
Amy Pitter
MSCPA President/CEO

Featured Conference
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See who's coming to our Women's Leadership Summit and register today! You'll hear from incredible speakers Kim Drumgo, director of diversity and inclusion at the AICPA and Terri Trespicio, award winning speaker, author and brand manager, whose TEDx Talk has over five million views. We'll cover inclusive leadership, the secret to creating more meaningful and fulfilling work, and we'll honor this year's Women to Watch Award winners. The event also includes a luncheon and desserts for you to enjoy while making new connections. REGISTER
Networking Events
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Photos: Career Fair & Graduate School Expo
Last Friday, over 150 students attended the MSCPA Career Fair & Graduate School Expo at the Marriott Boston Long Wharf to speak with representatives from over 30 local, regional and international firms as well as representatives from 15 colleges and universities. 
Thanks to Merrimack College for sponsoring!
VIEW PHOTOS (download password: cf19)

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Grab a beer and a bite with fellow MSCPA members on October 17 to celebrate your hard work! MSCPA Oktoberfest will take place at both the Castle Island Brewing Company in Norwood and the Lord Hobo Brewing Company in Woburn. Three drink tickets and heavy appetizers are included with your ticket. If you have any questions, please contact Kara Kieran. REGISTER | NORWOOD  
REGISTER | WOBURN

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MSCPA & XPX New England Joint Networking Event (11/6)
Join the MSCPA and XPX New England at the Central Wharf in Boston for a unique networking opportunity to connect with like-minded professionals, establish new business relationships and more. Registration includes two drink tickets and appetizers. REGISTER

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Women's Initiative Joint Holiday Networking Reception (11/21)   
Join the MSCPA, CFA Society Boston, Boston Women in Finance, Women in ETFs Boston, Women in Investing; Network & Supporting, Women Investing for a Sustainable Economy and the Women's Initiative of the Massachusetts Financial Planning Association for a for a joint holiday networking event at Anthem Kitchen & Bar in Boston! We look forward to a delightful evening of cocktails and networking to kick off the holiday season. Registration includes two drink tickets and light appetizers. To learn more about this event, click here. REGISTER
Career Center
Job Postings
  • Tax Associate/Senior - Burkhart, Pizzanelli, P.C.
  • Tax Manager - Burkhart, Pizzanelli, P.C.
  • Experienced CPA - Confidential
  • Senior Accountant - Lombardi, Clairmont & Keegan, CPAs
Per Diem Job Postings
  • CPA/Tax Professional -Cunningham, Macey & Heshion, P.C.
  • Seasonal Tax Preparer/Reviewer - Luca, DeBlasio & Company, Inc.
  • CPA - Robert S. Fineman, P.C.
  • Tax Preparer - Brad M Capland CPA, PC
#MemberMonday
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Did you see our profile of Marc Bucalo, CPA, president and CEO at g2 Consultant, Inc., on our Facebook and Instagram last month? We got to know him and highlighted the interview as our September installment of 
#MemberMonday. Click here to read Marc's full interview.  
 
If you know someone we should feature, please email Brendan Sullivan.
CPE
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Construction Contractors Advanced Issues (10/17)
Learn how to apply accounting and financial reporting standards to complex situations involving construction contractors, evaluate and perform audit processes to avoid common deficiencies in construction engagements, identify tax compliance issues unique to the construction industry and more. 
REGISTER

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Advanced Auditing of HUD Assisted Projects (10/21)
Interpret components of due professional care and the issues unique to the HUD-assisted project environment, learn how to reconstruct the required disclosures for HUD audits, assess the requirements for the separate agreed-upon procedure engagements prior to submitting financial data templates to the real estate assessment center and more. REGISTER

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International Tax (10/21)
Identify basic foreign tax law fundamentals to properly serve clients that require international tax compliance, understand how to comply with U.S. tax reporting requirements for inbound and outbound transactions and operations, learn how to source income to a foreign jurisdiction and more. REGISTER
Featured Member Benefit
Flat Rate Discounts on UPS Shipping              
MSCPA members can access flat rate pricing with savings of 45% on domestic next day/deferred, 25% on ground commercial/residential and up to 50% on additional services. Members can also take advantage of the UPS Smart Pickup® service for free.
LEARN MORE
 
To view more member benefits, click here.
Member News
RS MILLER & ASSOCIATES, LLC, Dedham, announced that the firm merged with STONE & COMPANY, LLC, Lexington on October 1. ROBERT MILLER, CPA, CFE will lead the newly expanded STONE & COMPANY, LLC as managing partner.

TONNESON + CO, Wakefield, announced that ROXANNE EMOND, CPA, MST, MSA was recently named vice chair of the Executive Committee of the Suffolk University Accounting Department Advisory Board.


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LATEST HUB DISCUSSIONS
 
Net Investment Income Tax

Massachusetts Paid Family & Medical Leave Act (PFML)

Section 199A for Rental Property

Non-Deductible Traditional IRA Rollover to a Roth
 

COMMITTEE MEETINGS
  
Governmental Accounting & Auditing (10/11)

Nonprofit Accounting & Auditing (10/17)

Taxation (10/22)

Litigation Support & Business Valuation (10/29)

Committee meetings are open to all members!


MORE INFO

NEW ENGLAND STATE AND LOCAL TAX FORUM (11/20)
  
Register for the New England SALT Forum that will be held at the Boston Marriott in Newton on Wednesday, November 20.   
To view the agenda,
click here.
 

LOOKING TO BUY OR SELL A PRACTICE?
  
Learn critical information about the merger and acquisition (M&A) process that will help you determine your next step! Posting classified ads are a great, cost-effective way to get the word out and engage with an audience of CPA 
professionals! Ads are included in the next available issue of SumNews and posted on our website for potential buyers or sellers to view online. For more information,
click here or contact Kristin Wells.

VOLUNTEER OPPORTUNITIES
  
Fill Out AGO Forms - Massachusetts Association for Gifted Education
 
Consultant - Healthworks Community Fitness
 
Board Member - Drama Studio
  
Review of Annual Statements for Form PC - Urban Village Montessori, Inc., Marigold Montessori
 
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