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The California Society of CPAs and the California CPA Education Foundation launched a Financial Leadership Forum to provide education, training and other resources for CPAs and business and finance executives.

Gale Crosley has built a successful consulting business by making it her mission to help accounting professionals increase their firms' revenues with strategies she has learned from her long career in business.

Despite a number of last-minute tax law changes — highlighted by the Alternative Minimum Tax “patch” that will inevitably delay the processing of some returns — most observers expect a smooth filing season ahead.“The late passing of the Alternative Minimum Tax legislation had a tremendous impact on the start of tax season,” said Jo Ann Cummings, product manager of CCH’s ProSystem fx. “It caused the IRS to delay the filing of returns with certain forms until February 11.”

Following a flurry of mergers throughout 2007, many top-drawer consultants in the accounting profession believe that this year will be just as active — and that foretells myriad changes for firms of all sizes.“I feel that [M&A activity is] hitting rapid proliferation moving forward,” said Gary Shamis, managing director of Ohio-based SS&G Financial Services. “And it’s going to become more significant in this year.”

For those who live and breathe cost segregation work, there’s an element of surprise surrounding how little most people — CPAs included — know about the tax-savings strategy.“On a recent proposal opportunity, a tax principal and I met with a potential client who owns 15 properties,” said Lawrence Knutson, CPA/ABV and consulting senior manager at Ehrhardt Keefe Steiner & Hottman PC in Denver. “The potential client had developed the properties over the last 20 years. He had a sole proprietor doing his tax return who is retiring. We came in and the first thing we mentioned was cost segregation. He had never heard of it. We see that more and more. I don’t think we’ve fully realized the size of the cost segregation market.”

“Asset allocation software helps clients find the right mix” (Dec. 17, 2007-Jan. 6, 2008, page 18) listed the incorrect phone number for Morningstar Principia; the correct number is (877) 586-5405.In the same issue, “CPAs I have know – Marvin Stone” (page 6) incorrectly identified the firm that Stone joined after his partner left Stone & Gray; it was Coopers & Lybrand, not Ernst & Young.

IRS BEEFS UP PREPARER CONDUCT STANDARDS

NORMAN E. AUERBACHNorman Auerbach succeeded Philip Defliese as chairman of Big Eight firm Coopers & Lybrand — they were different as day is to night.

One of the great lines in the long-running TV series M*A*S*H came when the show’s main character, Hawkeye Pierce, explained how predictable the world was when he was growing up. As he told it, “Roosevelt was always president, Joe Louis was always heavyweight champ and Paul Muni played everybody.”With respects to Alfred Lord Tennyson, the old order changeth, whether in politics, sports or show business. You can also toss auditing into that discussion.

MIAMI NAMES MCGLADREY