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Footnote Magazine

Footnote cover

May 2018

Delve into the May issue to find out more about the new Current Expected Credit Loss standard and other timely topics.

  • Common implementation issues with the new lease standard
  • How to navigate backdoor Roths
  • Confusion remains around digital sales tax

Updates from our members, including promotions, new hires, speaking engagements and firm news.

The case of Boris' boat deal
Charles Selcer, CPA, MBA
MNCPA member Chuck Selcer shares his knowledge about ethics requirements and laws with unique humorous fictitious stories.

The best-laid plans start with the first steps
Rebecca Keran, CPA, MBA, CGMA
Get insight and news from MNCPA leadership about the organization and professional issues.

Backdoor Roths aren't just for IRAs
Joe Brummel
You've heard it before: It's not just what you make, but what you keep that matters. That's especially true when it comes to planning for retirement income.

The clock is ticking
Stephanie Markert, CPA
The lease standard effective date is nearly here. The Financial Accounting Standards Board (FASB) moved forward and finalized the standard.

Engagement for the benefit of all
Rita Keller
A few years ago, it became popular to refer to employees as human capital -- a cringeworthy term if I ever heard one. It seems so cold.

A rise in technology causes sales tax confusion
Mike Herold, JD
In 1968, the MN sales tax rate was 3 percent, and computer software a consideration. Throughout the next 50 years, changes in computer technology and sales tax occurred in spurts.

The roar of CECL
Matthew Uhan, CPA
This new standard is the biggest accounting change facing bankers, auditors and regulators in decades. Here's how to digest it.

Leading up: 5 ways to build this essential superpower
Jon Lokhorst, CPA, ACC
Leading up is the most counterintuitive form of leadership. It's a difficult skill to master, but one that's essential to build an effective relationship with your boss and to advance from within.

Business Perspective: West Bend Mutual Insurance Company
Does your umbrella provide the coverage you need?

Love those letters
Anne Janotta Erickson, MNCPA senior business & industry marketing coordinator
Read why it was important for MNCPA member Polly Andersen to move her CPA credential back to an active status.

CPA Day at the Capitol has passed; what can you do now?
Geno Fragnito, MNCPA director of government relations
Find out about key issues the MNCPA is monitoring at the Capitol. Stay current on legislative news and events with stories, tips and grassroots involvement.

What the BOA rule changes mean for you and your CPE
Anne Janotta Erickson, MNCPA senior business & industry marketing coordinator
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.