AGN NARM 09

NARM May 17-19 • APT May 20-21 • Westin Tabor Center • Denver, CO

Technical Session Descriptions

Click on any track to view descriptions for all sessions of that track.

A&A

BOARD

BV/LIT SUPPORT

HR-FA

MAP

MKTG

NFP

: : Presentations : :


MONDAY, MAY 18, 2009
[AA1-1] A&A UPDATE (8:00 - 9:50 am)

CPE: 2.00 credit hours -

	This program will revisit FASB 157, Fair Value Measurements, considering its ongoing impact on current asset and liability valuations; provide a brief update on FIN 48, Accounting for Uncertainty in Income Taxes; discuss FASB proposals in the areas of financial statement presentation, leases, revenue recognition and contingencies; and discuss IFRS requirements when converting to IFRS for the first time from US GAAP. In addition, this program will address problems noted in Loscalzo's consultations relating to the risk assessment standards and a brief overview of SAS 115, Communicating Internal Control Related Matters Identified in an Audit. Standards addressed will include: • FASB 157 • FIN 48 • IFRS 1 • SAS 115

		John Fleming, CPA, MBA President Loscalzo Associates, Ltd.

	John M. Fleming, CPA, MBA, is the President of LOSCALZO ASSOCIATES LTD., a wholly owned subsidiary of SmartPros LTD. John has been associated with LOSCALZO ASSOCIATES for twenty-one years, most of that time as Loscalzo's Director of Accounting and Auditing. As President of Loscalzo Associates, John is responsible for operations, program development, client relationships, and business growth, and will continue to deliver CPE programs to many of the hundreds of clients associated with our company. As Director of Accounting and Auditing, John has conducted approximately 2,200 continuing professional education programs and was responsible for developing, technically reviewing and delivering accounting and auditing CPE programs for CPA societies, professional associations, accounting firms, and corporate accounting groups. John has been a frequent presenter on accounting and auditing topics in SmartPros monthly video series CPA Report. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance. John's practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. Concurrent with John's responsibilities with Loscalzo Associates in the past, he has performed numerous consulting assignments with various regional professional services firms in the areas of quality control, documentation review, technical compliance, and staff training and development. John, a Pennsylvania CPA, served as the 1999/2000 President of the 8,300 member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants and currently serves as a member of the Institute's Accounting and Auditing Technical Committee as well as co-chair of the Philadelphia Chapter's International Financial Reporting Committee. In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession and in 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession and community. John has also served as the 2002/2003 President of the American Accounting Association's Mid-Atlantic Region.



[AA1-2] A&A UPDATE CONTINUES (10:10 am - 12:00 pm)

CPE: 2.00 credit hours -





[AA1-3] INTERNAL CONTROL CONSIDERATIONS AND IT (1:15 - 3:05 pm)

CPE: 2.00 credit hours -

	Overview: Auditors are required to assess the risk of material misstatement in internal controls over financial reporting. Clearly a client's IT system is an integral component of financial reporting controls. A review of best practices in how to accomplish this task will be covered. Objectives: • To understand the risks of access, accuracy and completeness in the IT environment • To assess whether or not your documentation is adequate • To identify issues causing higher risk of misstatement Highlights: • What are the various types of IT controls? • Are some IT controls more important than others? • Does off-the-shelf software have special audit considerations?

		Elizabeth S. Gantnier, CPA Partner Stegman & Company

	Elizabeth S. Gantnier is a certified public accountant and Director of Quality Control for Stegman & Company of Baltimore, MD. She is a former Vice President - Finance for a publicly held manufacturing firm in Chesapeake, VA after having spent ten years with KPMG in the Richmond, VA and Norfolk, VA offices where she was a statistical audit specialist, in-house professional development instructor, and EDP specialist. When she is not working with clients of Stegman & Company, she is a national instructor for the AICPA on topics including fraud, accounting and auditing as well as SEC related topics and internal control. Additionally, she has been a nationally recognized CPA Review instructor. Liz is a frequent AICPA panelist on webcasts and videos, focusing on a variety of accounting and auditing issues. She has been a recipient of the AICPA's Outstanding Discussion Leader Award several times. Liz is a member of the Center for Audit Quality's Professional Practice Executive Committee and is a Standing Advisory Group member to the Public Company Accounting Oversight Board. Ms. Gantnier has expertise with audits of publicly held companies, governments and construction contractors, financial institutions, manufacturers, employee benefit plans and not-for-profit entities. She is a highly-rated instructor on technical, management and personal development topics, and is the author of the AICPA's programs on benchmarking, inventory valuation, auditing in a paperless society and auditing electronic evidence.



[AA1-4] AICPA UPDATE (3:25 - 5:15 pm)

CPE: 2.00 credit hours -

	Learn about the recent activities of the AICPA’s two audit and attest senior standard setting committees • the Auditing Standards Board and the Accounting and Review Services Committee. Included will be a discussion of the ASB’s clarity project as well as following recently issued Statements on Auditing Standards: a. SAS No. 115, Communicating Internal Control Related Matters Identified in an Audit b. SAS No. 116, Interim Financial Information The following proposed SASs: a. Compliance Auditing b. Audit Considerations Relating to an Entity Using a Service Organization (Redrafted) c. Required Supplementary Information d. Other Information in Documents Containing Audited Financial Statements e. Other Information in Relation to Financial Statements as a Whole Proposed Statement on Standards for Attestation Engagements, Reporting on Controls at a Service Organization SSARS No. 18, Applicability of Statements on Standards for Accounting and Review Services The ARSC’s reliability project Statement on Quality Control Standards No. 7, A Firm’s System of Quality Control

		Michael P. Glynn, CPA Technical Manager AICPA Audit and Attest Standards Team

	Michael P. (Mike) Glynn is a Technical Manager in the AICPA Audit and Attest Standards Team. In this capacity, Mike serves as the staff liaison to the Accounting and Review Services Committee (ARSC). In addition, Mike supports the activities of Auditing Standards Board (ASB) and its subcommittees by assisting members in drafting and deliberating authoritative professional standards and interpretations. Prior to joining the Audit and Attest Standards Team, Mike was a technical manager in the AICPA SEC Practice Section (SECPS). In that capacity, Mike supported the Quality Control Inquiry Committee (QCIC) by participating in deliberations of QCIC cases and participating in meetings with the Securities and Exchange Commission regarding the SEC's oversight of the self-regulatory process. Prior to joining the SECPS, Mike was a technical manager in the AICPA Professional Ethics Division. Prior to joining the AICPA in April 1998, Mike worked at Ernst & Young LLP in New York. Mike primarily served not-for-profit clients in E&Y's auditing practice. Mike also serves as a member of the New York State Society of CPAs' Accounting and Review Services Committee. Mike is a graduate of Pace University with a BBA in public accounting.




TUESDAY, MAY 19, 2009
[AA2-1] IFRS: WHAT THE ACCOUNTING PRACTITIONER NEEDS TO KNOW (8:00 - 9:50 am)

CPE: 2.00 credit hours -

	International Financial reporting standards (IFRS) have the potential to be the most important development in financial reporting in the careers of many practitioners. IFRS are already acceptable as an alternative to US GAAP for private entity reporting and will likely be required for public entities over the next few years. This series of two sessions will explore the nature, source, meaning, and application of IFRS. Special attention will be devoted to the major differences between US GAAP and IFRS including differences in conceptual frameworks, formats of financial statements, and key technical applications, such as revenue recognition, other comprehensive income, consolidation, and share based payments. Three in-session cases will be used to illustrate the mechanics of the important topics of revaluation, impairment, and recycling. Latest developments in the role of IFRS for private entities will be emphasized.

		Belverd E. Needles, Jr., Ph.D, CPA, CMA Needles & Powers, Inc.

	Belverd E. Needles, Jr., Ph.D. CPA, CMA Ernst & Young Distinguished Professor of Accounting DePaul University Belverd E. Needles, Jr. received BBA and MBA degrees from Texas Tech University and the Ph.D. degree from the University of Illinois at Urbana/Champaign. He teaches financial accounting, managerial accounting, and auditing at DePaul University, where he is an internationally recognized expert in international accounting and education. He has published in leading journals and is the author or editor of more than 20 books and monographs. His current research relates to international financial reporting, performance measurement, and corporate governance of high performance companies in the US, Europe, India, and Australia. His textbooks are used throughout the world and received many awards, including in 2008, the McGuffey Award from the Text and Academic Authors Association Active in many academic and professional organizations, he is currently Vice-President-Education-Elect of the American Accounting Association. He is the past Chair of the Board of Directors of the Illinois CPA Society and past-president of the International Association for Accounting Education and Research (IAAER). He served as the elected U.S. representative to the European Accounting Association, chair of the International Accounting Section of the American Accounting Association, director of continuing education for the American Accounting Association, and president of the Federation of Schools of Accountancy. He served as chair of the Academic and Career Development Executive Committee and on the Information Technology Executive Committee of the American Institute of CPAs. He served as the United States representative on the Education Committee of the International Federation of Accountants (IFAC) and on the Consultative Group of the International Accounting Standards Committee (IASC). He serves on the Board of Directors and Chair of the Audit Committee of Ziegler Companies, Inc., a boutique capital markets and financial services company. He has received the Distinguished Alumni Award from Texas Tech University, the Illinois CPA Society Outstanding Educator Award and its Life-Time Achievement Award, the Joseph A. Silvoso Faculty Award of Merit from the Federation of Schools of Accountancy, the Ledger & Quill Award of Merit, and the Ledger & Quill Teaching Excellence Award. He was named Educator of the Year by the American Institute of CPAs, Accountant of the Year for Education by the national honorary society Beta Alpha Psi, and Outstanding International Accounting Educator by the American Accounting Association. He has received the Excellence in Teaching Award from DePaul University.

		Marian Powers, Ph.D Adjunct Associate Professor Needles & Powers, Inc.

	Marian Powers, Ph.D. Adjunct Associate Professor of Accounting Information Systems and Management Kellogg School of Management Northwestern University Marian Powers received the BS degree from Chicago State University and the Ph.D. degree from University of Illinois at Urbana/Champaign. In addition to the Kellogg Graduate School of Management at Northwestern University, she has taught financial reporting the University of Illinois--Chicago, and the Lake Forest Graduate School of Management. Internationally recognized as a dynamic teacher in executive education, she specializes in teaching non-financial managers how to read and understand internal and external financial reports, including the impact of international financial reporting standards (IFRS). More than 1,000 executives per year from throughout the world, including France, Czech Republic, Australia, India, China, Brazil, and others, attend her classes. She has taught at the Allen Center for Executive Education at Northwestern University since 1987 and at the Center for Corporate Financial Leadership (CCFL) since 2002. Dr. Powers current research relates to international financial reporting, performance measurement, and corporate governance of high performance companies in the US, Europe, India, and Australia. Her research has been published in leading journals including The Accounting Review, The International Journal of Accounting, Issues in Accounting Education, The Journal of Accountancy, The Journal of Business, Finance and Accounting, and Financial Management, among others. Dr. Powers' textbooks, co-authored with Belverd E. Needles, Jr., are used throughout the world and have received many awards, including the Textbook Excellence Award and the McGuffey Award from the Text and Academic Authors Association. She has also co-authored three interactive multimedia software products: Fingraph Financial AnalystTM financial analysis software, Financial Analysis and Decision Making, a goal-based learning simulation focused on interpreting financial reports, and Introduction to Financial Accounting, a goal-based simulation that uses the Financial Consequences Model to introduce financial accounting and financial statements to those unfamiliar with accounting. Dr. Powers currently serves on the Board of Directors of the Illinois CPA Society, the Board of the CPA Endowment Fund of Illinois, and the Board of Governors of the Winnetka Community House. She is a member of the American Accounting Association, European Accounting Association, International Association of Accounting Education and Research, and Illinois CPA Society. She has served as Vice President - Programs and Secretary of the Educational Foundation. She is a past national officer of the ASWA and past president of its Chicago chapter.



[AA2-2] IFRS SESSION CONTINUES (10:10 am - 12:00 pm)

CPE: 2.00 credit hours -



		Belverd E. Needles, Jr., Ph.D, CPA, CMA Needles & Powers, Inc.

	Belverd E. Needles, Jr., Ph.D. CPA, CMA Ernst & Young Distinguished Professor of Accounting DePaul University Belverd E. Needles, Jr. received BBA and MBA degrees from Texas Tech University and the Ph.D. degree from the University of Illinois at Urbana/Champaign. He teaches financial accounting, managerial accounting, and auditing at DePaul University, where he is an internationally recognized expert in international accounting and education. He has published in leading journals and is the author or editor of more than 20 books and monographs. His current research relates to international financial reporting, performance measurement, and corporate governance of high performance companies in the US, Europe, India, and Australia. His textbooks are used throughout the world and received many awards, including in 2008, the McGuffey Award from the Text and Academic Authors Association Active in many academic and professional organizations, he is currently Vice-President-Education-Elect of the American Accounting Association. He is the past Chair of the Board of Directors of the Illinois CPA Society and past-president of the International Association for Accounting Education and Research (IAAER). He served as the elected U.S. representative to the European Accounting Association, chair of the International Accounting Section of the American Accounting Association, director of continuing education for the American Accounting Association, and president of the Federation of Schools of Accountancy. He served as chair of the Academic and Career Development Executive Committee and on the Information Technology Executive Committee of the American Institute of CPAs. He served as the United States representative on the Education Committee of the International Federation of Accountants (IFAC) and on the Consultative Group of the International Accounting Standards Committee (IASC). He serves on the Board of Directors and Chair of the Audit Committee of Ziegler Companies, Inc., a boutique capital markets and financial services company. He has received the Distinguished Alumni Award from Texas Tech University, the Illinois CPA Society Outstanding Educator Award and its Life-Time Achievement Award, the Joseph A. Silvoso Faculty Award of Merit from the Federation of Schools of Accountancy, the Ledger & Quill Award of Merit, and the Ledger & Quill Teaching Excellence Award. He was named Educator of the Year by the American Institute of CPAs, Accountant of the Year for Education by the national honorary society Beta Alpha Psi, and Outstanding International Accounting Educator by the American Accounting Association. He has received the Excellence in Teaching Award from DePaul University.

		Marian Powers, Ph.D Adjunct Associate Professor Needles & Powers, Inc.

	Marian Powers, Ph.D. Adjunct Associate Professor of Accounting Information Systems and Management Kellogg School of Management Northwestern University Marian Powers received the BS degree from Chicago State University and the Ph.D. degree from University of Illinois at Urbana/Champaign. In addition to the Kellogg Graduate School of Management at Northwestern University, she has taught financial reporting the University of Illinois--Chicago, and the Lake Forest Graduate School of Management. Internationally recognized as a dynamic teacher in executive education, she specializes in teaching non-financial managers how to read and understand internal and external financial reports, including the impact of international financial reporting standards (IFRS). More than 1,000 executives per year from throughout the world, including France, Czech Republic, Australia, India, China, Brazil, and others, attend her classes. She has taught at the Allen Center for Executive Education at Northwestern University since 1987 and at the Center for Corporate Financial Leadership (CCFL) since 2002. Dr. Powers current research relates to international financial reporting, performance measurement, and corporate governance of high performance companies in the US, Europe, India, and Australia. Her research has been published in leading journals including The Accounting Review, The International Journal of Accounting, Issues in Accounting Education, The Journal of Accountancy, The Journal of Business, Finance and Accounting, and Financial Management, among others. Dr. Powers' textbooks, co-authored with Belverd E. Needles, Jr., are used throughout the world and have received many awards, including the Textbook Excellence Award and the McGuffey Award from the Text and Academic Authors Association. She has also co-authored three interactive multimedia software products: Fingraph Financial AnalystTM financial analysis software, Financial Analysis and Decision Making, a goal-based learning simulation focused on interpreting financial reports, and Introduction to Financial Accounting, a goal-based simulation that uses the Financial Consequences Model to introduce financial accounting and financial statements to those unfamiliar with accounting. Dr. Powers currently serves on the Board of Directors of the Illinois CPA Society, the Board of the CPA Endowment Fund of Illinois, and the Board of Governors of the Winnetka Community House. She is a member of the American Accounting Association, European Accounting Association, International Association of Accounting Education and Research, and Illinois CPA Society. She has served as Vice President - Programs and Secretary of the Educational Foundation. She is a past national officer of the ASWA and past president of its Chicago chapter.



[GS2-3] AFTERBURNER GENERAL SESSION (1:15 - 3:05 pm)

CPE: 2.00 credit hours - Practice Management

	You're fighting for market share. You're fighting to make your numbers. You need a team that works as one. You need a team that works for the same goals. You need a team that knows not only how to plan a mission, but how to execute that mission flawlessly from start to finish. Enter Afterburner Fighter Pilots. We understand how critical it is to have effective leadership skills and to know how to handle yourself and your team in hostile, fast-changing environments every single day. Our corporate team building programs will not only charge your team with energy and know-how for one day — it will put them in full fighter form every day!



[GS2-4] AFTERBURNER GENERAL SESS CONTINUES (3:25 - 5:15 pm)

CPE: 2.00 credit hours - Practice Management

CPE INFORMATION
Learning Objectives:	The overall program’s objective is to provide organizational learning processes that are collaborative and iterative so as to expand participants’ knowledge in the critical technical areas of accounting, auditing and tax, as well as enhancing their leadership skills in teaching, interacting and developing their staff and future firm leaders.
Prerequisites:	Must be a firm partner, in a leadership position, or have partner approval to attend
Program Level:	Intermediate
Advanced Prep:	None
Delivery Method:	Group - Live
CPE Credit/Field of Study:	Varies by session (see each session's description)
Registration:	Online at www.agn-na.org
Cancellation Policy:	Written cancellations received before 5:00 pm MT on Friday, May 8, 2009 will not incur a cancellation fee. Cancellations received after that time will result in a cancellation fee of costs incurred by AGN-NA.
Refund Policy:	Refunds are determined on a case-by-case basis
Record Retention Policy:	All CPE records are maintained in the AGN database for a minimum of five years.
Compliance Resolution:	Contact Rita Hood, Executive Director, AGN International-North America at rhood@agn.org or 1-800-782-2272.
	AGN International - North America, Inc. is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417 or by visiting the website: www.nasba.org.