News & Updates

Two years out from his term as chair of the VSCPA Board ofDirectors, Jim Shepherd, CPA, hasn&rsquo ON CONFLICT DO NOTHING;t shifted focus from his goal of setting the highest standards possible for the way CPAs interact with and help their clients. He’s just more focused on the micro than the macro. That commitment to quality, professionalism and kindness — along with a perpetual willingness to help out anyone who asks — is the reason Shepherd is the 2016 VSCPA Outstanding Member of the Year. It’s

Gary Thomson, CPA, is a man who, as the saying goes, loves it when a plan comes together, both in everyday business decisions and in investing in the careers of others. That dedication to the long view has shaped his entire career, from opening his own practice to his current role in as a regional leader at Dixon Hughes Goodman. In public accounting and in life beyond work, he strives to make a positive difference for people around him. Thomson has also been a tireless advocate for the CPA community in

At first glance, Staci Henshaw, CPA, might seem like an unusual choice for VSCPA Board of Directors chair. After all, she works for the state government, away from the rank and file of the traditional public accountant — even in a tower (albeit not an ivory one). That’s just part of the picture, though. The other part is that Henshaw’s agency, the Virginia Auditor of Public Accounts (APA), is every bit as invested in a strong CPA profession as any firm you could find. The APA is the

2017 – 2018 VSCPA Educational Foundation Chair: Tom Crutchfield, CPA As a leader in the recruitment process for his firm, Tom Crutchfield, CPA, is well suited to assess the crop of accountants coming out of college. He hopes to bring that perspective to his tenure as the chair of the VSCPA Educational Foundation. Like his predecessor, Randy Shapiro, CPA, Crutchfield is a partner at a Northern Virginia firm — Burdette, Smith & Bish in Fairfax. In addition to the usual business development

5 Financial Steps to Start the New Year Right Are you completely satisfied with your financial situation? All of us think about how we could improve the way we save, spend or manage debt. The early months of the year are a great time to get a better handle on your finances, so why not resolve to make some important changes? The Virginia Society of Certified Public Accountants (VSCPA) outlines five great ways to do it. Get out of debt. Make a list of all your outstanding balances and rank them based on the

5 Disaster Planning Steps for Small Businesses Could your business bounce back if a disaster occurred? A minimum of 25 percent of small to midsize businesses that close temporarily due to a natural or other disaster ultimately never open their doors again, according to the Institute for Business and Home Safety. It is possible to weather any type of business interruption, however, if you’re properly prepared. The Virginia Society of Certified Public Accountants (VSCPA) offers these tips to ensure

In order to stand out in a crowded profession, many financial professionals are leveraging the escalating trend toward advisory services. The ability to offer specialized knowledge allows you to differentiate yourself from competitors and position yourself more favorably within the marketplace. One of the best ways for you to demonstrate your knowledge and expertise in particular areas is through the addition of credentials. The American Institute of CPAs (AICPA) offers the only credentials built on the

An IconRetires: Walter Stosch in His Own Words Virginia Sen. Walter Stosch, CPA, isn&rsquo ON CONFLICT DO NOTHING;t one of a kind, but he’s close. The VSCPA life member spent the last 33 years serving Virginia, in both houses of the General Assembly, and will retire when his current term ends. His departure will leave a void in the Assembly, both in statesmanship and in accounting and business expertise. Stosch, a Republican from Henrico, is one of just two CPAs to serve in the Virginia legislature. (The other was

Being a CPA is a great job — one of the best, we always say!— but it&rsquo ON CONFLICT DO NOTHING;s largely performed in a seated position. In terms of physical health, that’s…not ideal. The average American sits down 9.3 hours per day, a far cry from our ancestors in terms of physical labor. That’s a marked increase even since 1980, and it’s probably not a coincidence that obesity rates doubled in the same time frame. That’s no good for our health — people with sitting

Three CPAs, all of whom currently or formerly worked in government. While fiscal responsibility has been adopted by candidates for offices big and small, these three CPAs are taking action in the effort to bring the federal budget back into balance.

Conferences are the VSCPA&rsquo ON CONFLICT DO NOTHING;s highest-profile CPE events and anexcellent opportunity for the Society to directly interact with members. So it’s important to get those conferences right — to make them the best events they can be. In planning these events, what better resources to utilize than the Society’s own members? While VSCPA staff is heavily involved in each conference, the Society’s four major conferences are heavily driven by volunteer committees made up of

Dos and Don’ts When Naming an IRA Beneficiary Individual retirement accounts (IRA) hold more than one-fourth of all the retirement plan assets in the United States, according to the Employee Benefit Research Institute. CPAs recommend beginning retirement planning as early as possible and contributing regularly each year to secure a financially sound future. Unfortunately, some people make simple mistakes that prevent them or their families from getting the most benefit from their IRAs. The Virginia

While Debbie Moeller, CPA, is a senior associate at Brown, Edwards & Co. in Roanoke, she’s also keeping busy outside of her day job, doubling as the finance director of Flying Mouse Brewery, the Troutville-based operation she runs with her husband, Frank, and family friend John Garrett.

When it comes to the great accounting questions, “public or private?” is as ingrained in the field as “tax or audit.” But the decision a young accountant makes at the beginning of his or her career doesn’t have to lock them in until retirement. Accountants make the transition from public to private (or vice versa) en masse every year, and it can even be desirable to bring the skills from one to the other. We spoke with some VSCPA members who had made the switch one way or the

The investment of time and resources necessary to perform high-quality single audits of federal funds can be substantial and daunting for many CPA firms. Add the implementation of new single audit rules to the mix, and the challenges increase exponentially. The good news is that through the Enhancing Audit Quality initiative, the VSCPA and the American Institute of CPAs (AICPA) provide education, tools and resources that continue to support firms in driving improved single audit quality.  Audit quality is

Health Insurance: The Basics Health insurance is a critical element in any family’s financial security since it will help you cover costs for long-term needs or unexpected emergencies. It can also be extremely complicated, with consumers facing a wide range of choices and rules to get the coverage they need. The Virginia Society of Certified Public Accountants (VSCPA) offers this overview of some of the basics on health care insurance. What Terms Do You Need to Know? Some important, commonly used

How to Better Manage Health Care Costs According to the most recent data available from the Centers for Medicare and Medicaid Services, the average American spends nearly $10,000 per year on healthcare, and that number is expected to continue to rise. The Virginia Society of Certified Public Accountants (VSCPA) offers these tips to help you get the care you need while reining in healthcare spending. Shop Around and Negotiate Are your health insurance premiums too high? Shop around for a better deal.