Northeast Chapter to Building Fund · Northeast Chapter Contributes $12,000 to Building Fund ... Morgan of Starkville was selected for this honor and will receive a second scholarship

MISSISSIPPI SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

VOLUME XLVIII SEPTEMBER 2011

continued on page 6

Northeast Chapter Contributes$12,000 to Building FundMSCPA President Stacy Thomas attended the Sept. 8 Northeast Chapter meeting inTupelo and Chapter members approved and presented a $12,000 contribution to theBuilding Fund. From left are Mike Dawkins of Baker, Donelson, Bearman, Caldwell& Berkowitz, PC in Jackson who presented the CPE program on “Tax Crimes andProsecutions”, MSCPA President Stacy Thomas, Northeast Chapter President JulieHensley, Chapter Secretary/Treasurer Brenda Nichols, and Chapter Vice PresidentJonathan Hagood.

MSCPA Foundation Awards 2011 Scholarships

Major Eventson the 2011

MSCPACalendarIndustry Conference

October 18

Educators SymposiumOctober 28

Corporate IncomeTax Returns Workshop

October 31 – November 1

Not-for-Profit ConferenceNovember 4

Business Valuation & LitigationNovember 14

Mississippi Tax InstituteNovember 21-22

1040 Tax Return WorkshopDecember 1 & 2

Scholarship checks have been mailedto accounting students at Mississippicolleges and universities. Members ofthe MSCPA Awards, Education &Scholarships Committee reviewed andapproved applications in July fromstudents at institutions which awardaccounting degrees. Scholarships arethen reviewed by a Foundation Trusteeand funded through the MSCPAEducation Foundation.

To be eligible, students must bemajoring in accounting, have completedtheir junior year in preparation for theirsenior year or graduate study, be aMississippi resident, excel academically,be recommended by a professor, have afinancial need and be involved incampus activities.

The scholarships include three$1,000 scholarships to graduate students:the Ross/Nickey Scholarship and twoGary E. Thornton MemorialScholarships. This year undergraduatescholarships for $2,000 were awarded to

students at eight colleges/universities.One scholarship winner is selected to

receive the Hamp King Award. Thisaward was established to recognize andhonor the memory of the late HampKing who served as Mississippi’s StateAuditor for many years. Allen TylerMorgan of Starkville was selected forthis honor and will receive a secondscholarship check in November from theMississippi Tax Institute Trustees. Allenattends Mississippi State Universitywhere he has a4.0 inaccounting anda 4.0 overall.He is amember ofBeta AlphaPsi, BetaGammaSigma, PhiKappa Phi,InternationalStudent Affairs

Committee, City of Starkville, RelationsCommittee and the Shackouls HonorsCollege.

Cynthia Ann Fry of Hattiesburgwas named the recipient of the ThomasA. Ross/Robert L. Nickey Scholarship,established in 1998 to honor theircontributions to the accountingprofession. Ross, who died in 2007, wasan MSCPA Past President, long-timepractitioner and former State Boardmember. Nickey, who died in 2003,served as Executive Director of theMSCPA for 23 years. Cynthia attendsthe University of Mississippi where shehas a 4.0 in accounting and a 4.0 overall.She is a member of Beta Alpha PsiFraternity (Database Administrator),Honor Society of Phi Kappa Phi,Gamma Beta Phi Society, Sigma AlphaLambda National Leadership andHonors Organization, University ofMississippi Greek Sorority (Vice

Allen Morgan

22

Mississippi Society of Certified Public Accountants September 2011

Publishedby the

Mississippi Society of Certified Public Accountants

306 Southampton RowThe Commons

Highland Colony ParkwayRidgeland, MS 39157

PHONE: (601) 856-4244FAX: (601) 856-8255

E-MAIL ADDRESS: [email protected]

OFFICERS

PresidentStacy E. Thomas, Jackson

Vice President/President-ElectLee Adams, Jackson

SecretaryDonna Bruce, Jackson

TreasurerRicky Bullock, Tupelo

Immediate Past-PresidentSim Mosby, Natchez

Executive DirectorJack O. Coppenbarger

The CPA Newsletter is the officialpublication of the Mississippi Society ofCertified Public Accountants. TheNewsletter invites articles of interest to theprofession and gives credit to the author;however, it reserves the right to editarticles for correct spelling, wording andpunctuation.

Opinions expressed are not necessarilythe official policy of the MSCPA.Advertising is accepted in good faith thatthe product/services are of value stated.

Welcome New MembersNew members include Kimberly

Truett Balch, Jennifer Stoner Bouchillon,Joseph Hayes Brian, Jane GriffinDussouy, Joshua John Jensen, KarenMargaret Jones, Mallorie MageeRasberry, and Carol Jean Temple.

Now completing the membershipprocess are:

Michael Bennett Amspaugh wasborn in Newark, Ohio and received hisMBA from the University of Michigan atFlint and his Doctorate of PublicAdministration from Western MichiganUniversity. He is an Assistant Professorof Accounting at Delta State Universityin Cleveland.

Robert Earl Bass, Jr. was born inGulfport and received his BS inAccountancy from Mississippi StateUniversity and Juris Doctorate from theUniversity of Mississippi. He is anAccountant with Alexander, Van Loon,Sloan, Levens & Favre in Gulfport.

Robert Thaddeus Burke was born inJackson and received his BS in BusinessAdministration from Mississippi Collegeand Master of Accountancy from theUniversity of Mississippi. He is a StaffAccountant with BKD, LLP in Jackson.

Patrick Shawn Dendy was born inMeridian and received his Bachelor ofProfessional Accountancy and Master ofProfessional Accountancy degrees fromMississippi State University. He is aDeputy State Auditor in the Office of theState Auditor in Jackson.

Lloyd Karl Goodman was born inMeridian and received his BS inAccounting and Master of BusinessAdministration from SoutheasternLouisiana University. He is a Managerwith Bridgers & Company, P.C. inVicksburg.

Megan Cook McKinnie was born inAmory and received a BS in Accountingand BS in Management InformationSystems from the Mississippi Universityfor Women and MPA from MississippiState University. She is a StaffAccountant with BKD, LLP in Jackson.

Jodi Michelle Permenter was bornin Houston, Texas and received a BBAand MPA from Stephen F. Austin StateUniversity. She is an Associate with May& Company in Vicksburg.

Kristin Russell Pickich was born inBiloxi and attended Mississippi GulfCoast Community College and theUniversity of Southern Mississippireceiving a Bachelor of Science inBusiness Administration. She is a SeniorAccountant with Piltz, Williams, LaRosa& Company in Biloxi.

Linda C. Reeves was born inMississippi and received her BSBA fromthe University of Southern Mississippi.She is Bureau Director at the MississippiDepartment of Education in Jackson.

Caitlyn Leigh Shehan was born inTyler, Texas and attended Jones CountyJunior College earning an Associate ofArts degree and the University ofSouthern Mississippi earning BSBA andMPA degrees. She is a Staff Accountantwith BKD, LLP in Jackson.

Mary Kathryn Thomas was born inJackson and received her Bachelor ofAccountancy and Master of Taxationfrom the University of Mississippi. Sheis a Senior Associate with Horne LLP inRidgeland.

Cheri Danielle Waldrup was born inPensacola, Florida and attended JonesCounty Junior College earning anAssociate Degree in Liberal Arts and theUniversity of Southern Mississippiearning BSBA and MPA degrees. She isa Senior Accountant with Forrest GeneralHospital in Hattiesburg.

Ashley Elizabeth Witcher was bornin Hattiesburg and attended MississippiCollege earning a BS in BusinessAdministration with an Accountingconcentration. She is a Tax Accountantwith WitcherCPA, PLLC in Brandon.

RReeccooggnniizzee aannOOuuttssttaannddiinnggEEdduuccaattoorr

The Awards, Education &Scholarships Committee is seekingnominations for the Outstanding EducatorAward for 2011-2012.

Each year the committee requestsnominations for selection of an educatorwho has made significant contributions asan accounting instructor. That individualis honored during the MSCPA AnnualBusiness Meeting at Convention in June.

Nominations should be submitted inwriting by Oct. 1 to be considered by thecommittee. Send your nominations toOutstanding Educator, c/o MSCPA, 306Southampton Row, Ridgeland, MS 39157to the attention of Karen Moody,Committee Chairman.

33

September 2011 Mississippi Society of Certified Public Accountants

Resume Fraud: Verify the InformationBy Donna M. Ingram, CPA, CFE, Cr.FA, CFF

“The dog ate my homework” and “Yeshoney that dress does look good on you”are just two of the white lies we mayhave heard or told over the years. A lie(or fib, embellishment or fabrication) isdefined as deliberately misleading orcreating a false impression. It is humannature and even a matter of survival tobend the truth when difficult situationsarise. Even babies begin to lie as early assix months old. Research says that, onaverage, men tell six fibs a day andwomen three. If a person claims to havenever told a lie, he is probably lying.

A resume can be the first impressiona prospective employer has of a jobapplicant, but with a scarce job marketlying on a resume has become morecommonplace. The National Associationof Professional Background Screenersestimates that 40% of resumes containmaterial lies or omissions. Manypotential employees may lie about thedegree they obtained, or the universitywhere the degree was earned. Others mayfudge with dates of employment,exaggerate technical skills or inflate

grade point averages.Unfortunately there are numerous

websites available today that provideinstructions on how to fill the gaps inemployment history, the best ways to getfake references, and foolproof methods toadd experience to a resume. Otherwebsites offer fake diplomas andtranscripts, which although for noveltyuse, include seals, watermarks andreplicated signatures, and are printed onthe same paper used by colleges anduniversities. These websites alsoencourage lying by stressing that goodliars get job offers and honest peopleoften do not.

How concerned should a prospectiveemployer be about the ethical attitude ofa potential employee who embellishesaccomplishments on his or her resume?Very. Resume padding can be a gatewayact to other unethical behavior such asembezzlement, fudging the numbers in afinancial statement or falsifying a qualitycontrol inspection. In times ofquestionable ethics in business andpolitics, with many very disturbing public

examples, setting high standards in allemployees (as well as management) ismore critical now than ever before.Simple truth and honesty should be theexpected response when answering anyquestion or providing information,especially when the stakes are high in abusiness or professional setting.

Therefore, it is becoming moreimportant than ever for employers toverify all information on the job seeker’sresume. Employers are looking for peoplethey can trust, and even a little white lieought to raise concerns with theemployer. And while some companiesconduct background checks on entry-level employees, they often fail to be asdiligent when hiring for managementpositions. Instead they rely on publicizedaccomplishments and informationobtained through networkingopportunities. The Chairman of one largecorporation said he had an MBA from aschool he attended, but in truth he wasnever a graduate. Another CEO claimedto be an orphan, which was a surprise to

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RETIREMENT DATE IS OCTOBER 17, 2011

PRACTICING CPA FOR 63 YEARSFROM 1948 UNTIL 2011

MS Certificate # 369July 19, 1948

MS STATE UNIVERSITY ACCOUNTING PROFESSOR FROM 1947 TO 1986

HE HAS SEEN IT ALL FROM THE GREEN EYE SHADES AND BLACK LEDGERBINDERS TO THE MOST CURRENT COMPUTERS AND SOFTWARE.

ROLLINS AND CRIGLER, CPAs109 SOUTH LAFAYETTE STREET

STARKVILLE, MS 39759662-323-5230

continued on page 4

44


RESUME FRAUDcontinued from page 5

his parents, and he exaggerated hiseducation and military records. Anothertop-level executive claimed to havegraduated from MIT when in reality hehad graduated from another college in theBoston area. When an executive is caughtin a lie it can have an adverse effect onthe company’s stock price, reputation andcredit risk. A few dollars spentperforming a comprehensive backgroundinvestigation on all prospectiveemployees can result in significantsavings, especially if lies are involved.

Marcus Aurelius, the RomanEmperor, said “if it is not right do not doit; if it is not true do not say it”. Thesewords were applicable in the secondcentury and remain applicable today. Allemployees should remember that whatthey enter into a record can come back tohaunt them. The business world is nowelectronically interconnected, and withthe “searchable” world we live in, liarswill eventually get caught. Honesty reallyis the best policy.

38th Annual

Mississippi Tax InstituteJackson Hilton & Convention Center

November 21 & 22, 2011

(Monday & Tuesday)

Member Registration Fee: $285

55


Tech Bit 84: Tune up Your PCWindows PC’s seem to develop

plaque over time (Mac computers mayalso, I just don’t have experience withthem). The visible result is your PCseems to run slower over time. Thatplaque is the result of the variousprograms the average user installs,knowingly or unknowingly while usingthe PC. Updates, website add-ins, etc. alladd software to your PC.

By far the cleanest solution is to backup everything, erase your hard disk,reinstall Windows and the applications,and restore your data. But for many PCusers, finding all the installation CD’scan be challenging enough to keep themfrom doing a real scrubbing.

There are a number of free tools to letyou address some of the issues (e.g.registry bloat, hard drive fragmentation,etc.) that I’ve written about in the past.

Way back at the beginning of thisseries (in Tech Bit 15) I wrote about acommercial all in one software packagecalled System Mechanic, then at version7. Its advantage is it combines a numberof separate functions into a singlesoftware package that simplifies tuningup your system without resorting toscrubbing it.

I’ve got System Mechanic 10.5 on mynotebook computer. It has found 844unused registry entries I didn’t need, abunch of system clutter, optimized myhard disk and generally cleaned up mysystem.

Since benchmarks in the real worlddon’t really measure performance innormal usage, I didn’t run before andafter benchmarks. What I can report is

the system is perceptibly fast and I thinka bit more stable (I haven’t seen amysterious crash one of my applicationshad occasionally since I’ve done theSystem Mechanic cleaning of mysystem).

If I have any complaint, and this istrue about more and more software, isthat System Mechanic assumes duringinstallation that you want it to run andkeep cleaning up all the time. I find thatfrustrating if for no other reason thatevery program running takes a little bit ofthe computer’s RAM memory and

processor time, effectively slowing downthe computer a little. As an exampleAdobe has an program that runs all thetime just to check for updates. WhileSystem Mechanic helps with disablingsome of those “redundant” programs, itreplaces them with itself.

But if you are not a computer geek,having a program like System Mechanicto help optimize your system is a goodidea.

Gregg Marshall, CPMR, CSP, CMC is a speaker, authorand consultant. He can be reached by e-mail [email protected], or visit his website athttp://www.vendor-tech.com.

Do WeHave Your

Current EmailAddress?Send it to

[email protected] we’ll update.


66

MSCPA

CAREERCENTER

For Job SeekersAnd Employers

Sign up at www.ms-cpa.org

President of Finance), and serves as atutor to undergraduate accountingstudents.

Two graduate students have beennamed winners of the Gary E. ThorntonMemorial Scholarships, established in1999 by Gary’s widow, Cathy. Gary was

SCHOLARSHIPScontinued from page 1

Virginia Anderson

Chelsey Neal

Garret Smith

Lianne Capaning Cynthia Fry

David Patterson Christopher Self

Thomas Webb Cathleen Williams

Clarissa Mitchell

77


an active MSCPA member and formerchair of the Governmental A&ACommittee. He died in March of 1999.

Lianne P. Capaning of New Albanyattends Mississippi State Universitywhere she has a 4.0 in accounting and a4.0 overall. She is a member of StudentAssociation Service and CampusOutreach Committees, Music MakerProductions (Secretary), Beta Alpha PsiAccounting Honor Society (ActiveMember and Peer Tutor), AccountingAdvocates (Student Recruitment andAdvising), Phi Kappa Phi Honor Society(Outstanding Junior Initiate, Fall 2009),and the MSU Shackouls Honors College.

Garrett Keith Smith of Hattiesburgattends the University of SouthernMississippi where he has a 3.857 inaccounting and a 3.575 overall. He is amember of Beta Gamma Sigma(International Honor Society) and BetaAlpha Psi (National Honor Society).

The following undergraduatewinners of $2,000 scholarships are listedalphabetically:

Virginia Helen Anderson ofRidgeland attends Delta State University

where she has a 4.0 in accounting and a3.94 overall. She is a member of DeltaMu Delta, Who’s Who Among Studentsin American Universities & Colleges,Delta State University AccountingHonor Society, and SABA.

Clarissa Sha Mitchell of Hattiesburgattends the University of SouthernMississippi where she has a 3.4 inaccounting and a 3.645 overall. She is amember of Beta Alpha Psi, Tau SigmaNational Honors Society - LeadershipBoard, Gamma Beta Phi Society, TheLegacy, Phi Theta Kappa Honors Society(VP of Public Relations), Alpha BetaGamma Business Honors Society,Diamond Darling (Hinds Baseball), andHinds Community College HonorsProgram.

Chelsey Nicole Neal of Foxworthattends Mississippi College where shehas a 4.0 in accounting and a 3.97overall. She is a member of LagunaSocial Tribe, Accounting Society (VP ofPublic Relations), and Spanish Club.

David Paden Patterson of Oxfordattends the University of Mississippiwhere he has a 3.63 in accounting and a

3.86 overall. He is a member of BetaAlpha Psi, Phi Kappa Phi, The SallyMcDonnell Barksdale Honors Collegeand The Residential College at Ole Miss.

Christopher Shane Self of OceanSprings attends William CareyUniversity where he has a 3.78 inaccounting and a 3.82 overall. He iscurrently a member of the Sigma BetaDelta International Honor Society.

Thomas Cole Webb of Aberdeenattends Mississippi University forWomen where he has a 4.0 in accountingand a 3.87 overall. He is a member ofDelta Mu Delta and has an internshipwith American Eurocopter, ProgramOffice.

Cathleen Nicole Williams ofJackson attends Jackson State Universitywhere she has a 4.0 in accounting and a3.872 overall. She is a member of theAccounting Society (2011 MissAccountancy, 2011-2012 2nd VicePresident), SIFE (Students in FreeEnterprise), Beta Gamma Sigma, PhiKappa Phi Honor Society, Alpha ChiHonor Society, and Alpha Lambda DeltaHonor Society.

88



99

The Disengagement Letter: Components andAppropriate Language By Ronald C. Parisi, CPA, JD

A disengagement letter professionallyand formally terminates the CPA-clientrelationship. When written effectively, thedisengagement letter can leave clientsfeeling that you considered their businessneeds and acted in their best interests.

Sometimes disengagement is calledfor because the firm is heading in acertain direction, and the client is nolonger compatible with that direction. Ofcourse, there are also unpleasantsituations that may necessitatedisengagement because of issues such as:

• unpaid fees; • incomplete information; • lack of response or communication; • conflicts of interest; and• suspected fraudulent activity.Such situations may come to light

during the firm’s regular client“screening process” – i.e., a processenabling the firm to better monitor anychanges that might affect the professionalrelationship or escalate into crises. Thedisengagement letter should state the

specific reasons for disengaging. Regardless of the underlying

cause/situation, the disengagement lettershould always contain the following:

• A clear statement that you aredisengaging and the effective date ofthe disengagement (e.g., “We mustformally end our relationship withyou as your accounting firm<“effective immediately”, or “as of[date]”>.);

• A description of any work that is inprocess or unfinished; and

• A statement of any due dates orfiling deadlines that exist withregard to the work, whether finished,in process, or unfinished.

Review and edit the letter carefully toensure that it is professional, objective,and concise (i.e., to the point). Don’t letit reflect personal feelings or referenceirrelevant information that will confusethe client and give the appearance ofcontroversy or loose ends where therearen’t any. The cause that provoked

disengagement may be emotionallycharged, but the letter should not beemotional or antagonizing.

Engagements that include audit,review, or compilation services requirespecial attention, especially if the client’spurpose is to obtain financing or satisfyloan covenants. Disengaging might delayor frustrate such client purposes.

Tax preparation engagements alsorequire special attention. Ideally, the CPAfirm should disengage after completingits work for the client. When the firmdisengages before completion, asuccessor CPA may be unable to finishby a deadline, causing missedopportunities or damage to the client’sbusiness. CPAs should be aware of thisexposure and not wait until the lastminute to disengage.

The following sample disengagementletter illustrates some of the precedingpoints:

continued on page 10

1100


DISENGAGEMENT LETTERcontinued from page 9

<Date><Client Name><Client Address>Dear <Client Name>:This letter is to inform you that we

must formally end our relationship withyou as your accounting firm as of<date>. As you know, we were engagedonly to prepare your Federal and<State> Income Tax Returns for theyear[s] <year(s)>. These returns are onextension until <date>.

Our reasons for disengaging at this

time include the following:1. The unpaid fees, as requested in

our letter dated <date>, have notbeen paid on a timely basis. As wementioned to you during theconversation we had <day, date>,we were unable to proceed withyour tax returns until the paymentwas received.

2. The incomplete informationreceived to date leaves too manyitems unresolved to properlyprepare your individual tax returnsfor <year>. This includes <ClientName> corporate activities for theyear ended <date> and theactivities to date that will have a

material effect upon your personaltax returns. We have requested thisinformation from you twice in thepast, once on <date> and againon <date>.

It is the policy of this firm to not issueor release incomplete tax returns. Wehave enclosed the original documents(list attached) that you provided to us andthe original IRS extension approval.Given that you have a deadline of<date>, we urge you to gather yourdocumentation and engage another taxprofessional as soon as possible in orderto complete your return in a timelymanner and to avoid potential penalties.We will cooperate with your subsequenttax professional as necessary.

The outstanding balance on youraccount with us is $<amount>.

Sincerely,____________________________<Accountant Name><Firm Name>

Even the most proactive and well-managed evaluation and disengagementprocedures may require bypassing incritical situations (e.g., the discovery offraudulent activity). When in doubt, call aqualified risk adviser or legal counsel forguidance.

Ron Parisi is executive vice president of riskmanagement for CAMICO (www.camico.com). In thatcapacity he is responsible for executive oversight of thecompany’s underwriting and claims functions.

Future MSCPAConventions

June 21-24, 2012Sandestin Golf &

Beach Resort

June 20-23, 2013Sandestin Golf &

Beach Resort

1111


1122


BENEFITS BYLINEBy David Ellis, Vice President, Robert Ellis & Associates

After the devastation of HurricanesKatrina and Gustav, the importance of acomprehensive property insurancepackage was made painfully clear to mostof us here in the Gulf South. While theproperty and casualty insurancemarketplace remains cautious in our areafor coverage related to wind and hailprotection, the availability of insurance toprotect property owners financially fromlosses due to flooding is secured by theNational Flood Insurance Program(NFIP).

Given the fact that standard propertyinsurance does not cover flooding, it’simportant to safeguard both yourpersonal and professional property(building and contents) against floodsassociated with hurricanes, tropicalstorms, heavy rains and other conditionsthat impact our area. According to theStandard Flood Insurance Policy (SFIP)on the FEMA website, a flood is defined,in part, as:

A general and temporary

condition of partial or completeinundation of two or more acresof normally dry land area or oftwo or more properties (at leastof which one is your property)from overflow of inland or tidalwaters, from unusual and rapidaccumulation or runoff ofsurface waters from any source,or from mudflow.

While a more complete definition isavailable in the SFIP, Section II,Definitions A1 and A2, one simple ruleof thumb to remember is if your propertyis damaged due to rising water, contactyour flood insurance agent. If propertydamage results from falling water,contact your property insurancerepresentative. For example, withHurricane Katrina a number of propertieswere damaged by the tidal surge and theinability of drainage systems to handlethe volume of water that accumulated.Damages incurred from this rising waterwere considered flood related. Claims for

those properties, however, that sufferedroof damage during the storm andsustained subsequent water damage fromthe rain falling into the structure wereconsidered under the insureds propertycoverage. In the case of a hurricane, ofcourse, claims for both flood andproperty insurance may apply.

If your property is located in a floodzone, your mortgagee may require you tocarry flood insurance. And, even if youdo not have a loan on your building orcontents, if you are in a flood zone, mostof us understand the need for floodinsurance in these areas. However, if youare not in a flood zone, do not becomecomplacent about the necessity of thisimportant insurance protection for yourassets. According to FEMA, propertyowners outside high-risk areas file over20% of NFIP claims and receive one-third of disaster assistance forflooding. Just a few inches of waterfrom a flood can cause tens of


1133


1144


BENEFITS BYLINEcontinued from page 12

thousands of dollars in damage -- overthe past 10 years, the average floodclaim has amounted to nearly $48,000.

For your consideration, we’ve listedsome important highlights of floodinsurance below:

• There is typically a 30-day waitingperiod from the date of purchasebefore a new flood policy goes intoeffect. An exception to this 30-daywaiting period results if your lenderrequired flood insurance inconnection with the making,increasing, extending or renewing aloan;

• While limitations of coverage underthe regular NFIP are as follows,

Excess Flood policies are availableto increase your limits;

• Deductibles apply separately tobuilding and contents withdifferent amounts to choose from.Like other insurance plans, a higherdeductible will lower the premiumyou pay, but will also reduce yourclaim payment. Your mortgagelender can also set a maximumamount of your deductible;

• Flood insurance rates are set anddo not differ from company tocompany or agent to agent. Youshould purchase flood insurancefrom an agency and carrier with agood reputation for service andclaims handling.

• What’s Covered: Generally, thecoverage on your building willprotect the actual structure and itsfoundation, as well as permanentlyinstalled air conditioning, furnaces,water heater, carpeting, wallboard,bookcases and cabinets. Thecoverage on contents includespersonal belongings such asfurniture, electronic equipment and

certain valuable items such asoriginal artwork (up to $2500). It isalso important to note thatpreventive measures are alsocovered expenses up to a certainlimit. When a building is inimminent danger of flooding, thecost to purchase sandbags and fillthem, plastic sheeting and lumberused in connection with them,pumps, fill for temporary leveesand will be reimbursed up to $1000.In addition, the removal of insuredproperty to a safe location andreturn will be reimbursed up to$1000. The deductible is typicallywaived for these preventivemeasures.

• What’s Not Covered: Damagecaused by moisture, mildew ormold that could have been avoidedby the property owner, currency,precious metals and valuable paperssuch as stock certificates, propertyand belongings outside of aninsured building (such as trees,plants, septic systems, etc.), living


COMMERCIAL PROPERTY

Building $500,000

Contents $500,000

SINGLE FAMILY RESIDENCE

Building $250,000

Contents $100,000

1155


of-the-art technology, intellectuallychallenging assignments and meaningfulopportunities to enhance professional andpersonal skills. In addition to an excellentcompensation package, we offer a familyatmosphere with a strong emphasis on client-centered professionalism. Send resume inconfidence to P. O. Box 80, Jackson, MS39205-0080. FAX 601-355-9003.

u u uCALCULATORS PLUS is now handling theMonroe Calculators and supplies Call

Chester Wasser at 601-709-0371 or 888-264-3939 for more information and special CPApricing.

u u uACCOUNTING PRACTICE SALES – JIMBURFORD, BROKER - WHEREPRACTICE SELLERS AND BUYERSMEET. Some of the practices we now haveavailable are listed below:

– Natchez, MS. Tax practice. Annual gross$73,572. Asking price lowered to$45,000.

– Monroe, LA. CPA tax and bookkeepingpractice. Annual gross $581,000.

– Jackson, MS Area audit, tax, andbookkeeping. Annual gross $1,340,000.

– Southern MS CPA practice all tax andwrite up work. Annual gross $185,000.

– Jackson, MS tax practice. Annual gross$98,000.

– CPA practice about 1 hour south ofTupelo, MS. Annual gross $100,000.

To list your practice with us or to check outour current listings, call me, Jim Burford,CPA toll free (800) 340-7002 or visit ourwebsite at www.accountingpracticesales.comor e-mail me at [email protected].

CLASSIFIEDScontinued from page 16

expenses such as temporary house,financial losses caused by businessinterruption or loss of use of theinsured property and most vehiclesare not covered under the standardpolicy. An excess policy mayprovide some protection forbusiness interruption.

In today’s property insurance market,flood remains one of the best valuesavailable for your premium dollar. Asyour MSCPA-endorsed insurancerepresentatives, Robert Ellis &Associates would be happy to assist youin reviewing the limits you require andthe annual premium cost should you wishto obtain coverage. You may also contactthe NFIP at 888-379-9531 to request an

agent referral. As always, it is our pleasure to serve

you and we look forward to theopportunity to be of service,

David EllisVice PresidentRobert Ellis & Associates

BENEFITS BYLINEcontinued from page 14

PRSRT STDU.S. POSTAGE

PAIDJACKSON, MSPERMIT #814

Mississippi Society of Certified Public Accountants

and its Education Foundation306 Southampton RowRidgeland, MS 39157

CLASSIFIEDSBKD, LLP, the tenth largest accounting andadvisory firm in the U.S., is seekingexperienced audit professionals with 2 ormore years experience for its Mississippipractice. Experience in healthcare, financialservices, and/or manufacturing &distribution/commercial is favored though notnecessarily required. CPA or CPA eligibilityis required. Resumes may be sent to 190 EastCapitol Street, Suite 500, Jackson, MS39201, or emailed to [email protected] visit www.bkd.com for moreinformation.

u u uCOME JOIN THE WOLFE, MCDUFF, &OPPIE team – the firm of choice on theMississippi Gulf Coast. We have openings atall levels, each with opportunities foradvancement. We are looking for ambitious,energetic and self-starting individuals whoseek a career in public accounting. You mustbe comfortable working in a laid-back,flexible environment. We offer competitivesalaries, bonus opportunities, great benefitsand excellent growth opportunities. Send yourresume to [email protected] or fax to228-762-4498.

u u uINTERESTED IN SELLING YOURPRACTICE? Matthews, Cutrer & Lindsay,P.A., a Ridgeland based firm, is interested inacquiring additional accounting practices. Ifyou are looking to retire now or in the nearfuture, we would like to talk with you. Pleasecontact Charles Lindsay at 601-898-8875 oremail [email protected].

u u uRESERVOIR AREA CPA firm ofFortenberry & Ballard, PC, is seekingcandidates to fill positions in audit, tax , andfinancial services. We offer a competitivesalary and benefits package, including bonusopportunities, as well as opportunity foradvancement. Please send your resume inconfidence to 1929 Spillway Road, Brandon,MS 39047 or e-mail to [email protected].

u u uWM. F. HORNE & CO., PLLC seeksexperienced tax and assurance professionalsfor the Hattiesburg and Laurel, Mississippiarea. Excellent benefits and competitivesalary with opportunity for advancement. Toapply, email resume to [email protected] fax to 601-649-5233.

MAGNA BANK Controller: BS degree inAccounting or Finance required. Master’sdegree in Accounting or Finance preferred.CPA certification required. 3+ years ofexperience in public accounting with Bankingsector emphasis or 5+ years experiencemanaging accounting and finance in theprivate sector. Banking industry experience ishighly preferred. Public company reportingexperience required. Knowledge of finance,accounting, state and federal tax, budgeting,and cost principles. To view a full jobdescription or to apply go towww.magnabank.com EOE/AA

u u uRETIREMENT-MINDED? Tann, Brown &Russ Co., PLLC, a Jackson based CPA firm,would like to talk with you. We have a proventrack record when if comes to transitioningpractices of retiring CPAs. Please contactRichard Russ at 601-354-4926 or [email protected].

u u uJACKSON METRO-AREA enterpriseseeking accountant or bookkeeperexperienced in payroll accounting, employeebenefits and human resources relatedcompliance tasks. Must be proficient in use ofMS Word, MS Excel and adaptable to variousspecialized business computer softwareapplications. College graduate preferred,accounting degree a plus. Send resume´ inconfidence to: Accountant, P. O. Box 13093,Jackson, MS 39236-3093.

u u uCOME JOIN THE TEAM ATMATTHEWS, CUTRER & LINDSAY, PA,recent recipient of the Mississippi BusinessJournal’s 100 Best Private Companies inMississippi award. Currently the firm isseeking experienced full-time audit and taxprofessionals and per diem tax professionalsto work during tax season. The firm offersexcellent benefits, a competitive salary withopportunity for advancement along with anatmosphere that encourages a strong work/lifebalance. Send resumes to 599C Steed Rd,Ridgeland, MS 39157 or [email protected] [email protected].

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u u uLOCAL JACKSON CPA wants to purchasesmall accounting/tax practice. Contact me [email protected].

u u uTHE FIRM OF GRANTHAMPOOLECPAs, past recipient of the MississippiBusiness Journal’s prestigious Best Places toWork in Mississippi award, is looking forgreat staff additions. If you love taxpreparation and planning and enjoy takingexcellent care of clients, we may have a homefor you. Full time, seasonal, and part-timestaff members are all valued atGranthamPoole. Competitive salary, partnertrack, great benefits, and excellentopportunity for advancement all makeGranthamPoole an outstanding place to work!Send resumes to 1062 Highland ColonyParkway, Suite 201, Ridgeland, MS 39157,fax to 601-499-2401 or [email protected].

u u uHADDOX REID BURKES & CALHOUNPLLC seeks experienced audit and taxprofessionals interested in a rewarding careerwith one of the most established andrespected CPA firms in the Jackson area.Excellent benefit package, competitive salary,and opportunity for advancement. Flexiblework schedule is an option. Contact DebbieHolbrook ([email protected]) or mailresume in confidence to P.O. Drawer 22507,Jackson, MS 39225-2507. For moreinformation, visit our website atwww.hrbccpa.com.

u u uKPMG LLP seeks experienced auditprofessionals interested in a rewarding careerwith one of the largest and most dynamicCPA firms in the world. Competitivecompensation, excellent benefits and ampleopportunity for advancement are offered.Mail resumes in confidence to 188 E. CapitolStreet, Suite 1100, Jackson, MS 39201, e-mail [email protected] , or visit our websiteat www.kpmg.com.

u u uJACKSON CPA FIRM of Breazeale,Saunders & O’Neil, Ltd. is seekingexperienced audit and tax professionals, bothfull time and part time. Our staff enjoys state-

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Northeast Chapter to Building Fund · Northeast Chapter Contributes $12,000 to Building Fund ... Morgan of Starkville was selected for this honor and will receive a second scholarship