Oct. 08 - Commercial Real Estate Defaults and Bankruptcy Planning
With commercial real estate on shaky footing, the prospect for defaults of commercial debtors has increased. Some owners may turn to Chapter 11 bankruptcy for an opportunity to buy time or restructure their secured debt; however, the 2005 amendments to the Bankruptcy Code have expanded some of the more restrictive single-asset real estate (“SARE”) provisions to reach more debtors. As a result, bankruptcy will require earlier and more sophisticated planning.
Objectives:
• To learn the definition of a SARE and the impact of this designation.
• To become familiar with some of the issues a SARE debtor should consider before a Chapter 11 filing.
• To learn how an entity might make decisions now to avoid the SARE designation altogether.

The method of presentation is group-live instruction and the program level is intermediate. There are no prerequisites for this course nor is there any advanced preparation required.

Lunch Served

Oct. 13 - Auditing for Compliance and Internal Control Over Compliance in an OMB Circular A-133 Audit
An audit under OMB Circular A-133 is very different than an audit of the financial statements. The objective of the audit of a financial statement is to express an opinion on whether the financial statements “are presented fairly in material respects.” On the other hand, the objective of an audit under OMB A-133 is to issue an opinion on whether the client “complied in a all material respects” with types of compliance requirements described in OMB Circular A-133. Since the objectives of these two audits are different, they need to be approached with a different mindset. This seminar will discuss the differences between these two audits. In addition, the seminar will review the 14 compliance requirements and how to address them. Finally the seminar will discuss new developments.
Learning Objectives
* Learn the differences between a financial audit and an audit under OMB Circular A-133
* Review the 14 compliance requirements and how to address them
* Cover new developments in compliance auditing

The method of presentation is group-live instruction and the program level is intermediate. No prerequisites or advanced preparation are required.


Oct. 19 - Modern Business & Family Law for Accountants
The purpose of this seminar is to discuss, update and review a variety of business and family law issues encountered by both business and individual clients, as well as identify potential legal issues before problems develop. Typically, CPAs and in-house accountants are in a better position to identify their client’s/employer’s legal problems than attorneys, and a good understanding of various business and family law subjects can enable them to be a great resource for their clients/employers. This seminar will provide a basic understanding of
• corporate and business entities and the Texas Business Code
• probate, wills and trusts
• bankruptcy
• consumer protection
• real estate
• divorce and community property
• international tax
• employment law
• director and officer fiduciary duties and liabilities
• intellectual property
• litigation
• natural resources
• health
• not-for-profits
Learning Objective(s):
• gain an understanding of business and family law issues
The method of presentation is group-live instruction and the program level is intermediate. Prerequisites: there are no prerequisites for this course nor is there any advanced preparation required.


Oct. 20 - SACPAS Board of Directors Meeting
8 a.m. CPA Center.

Oct. 22 - Advanced Fraud Detection Skills
Finally, based on repeated requests, we are offering a fraud detection seminar “not for beginners”. This session will primarily include multiple “hands-on” cases that are discussed and “solved” by the attendees, in a small group (workshop) format. We will contemplate some advice from experts, but this course contains much less lecture and statistics than our other topics. Key areas of emphasis will be:
• Using extractive software to identify fraudulent disbursements
• Enhancing your whistle blowing program
• Monitoring your employees (legally & effectively)
• Dealing with bribery and kickbacks
Learning objectives:
Improving your ability to detect fraud & abuse, where you work and becoming aware of how (and when) to use the most effective tools & techniques.
The seminar is a live, interactive group format. No advanced preparation is required, but a basic knowledge of occupational fraud is a prerequisite.


Oct. 25 - Financial Literacy Committee Meeting
Noon. CPA Center.

Oct. 27 - MAP Luncheon


Oct. 27 - TAXonomy: The Classification of I.R.C. 501(c)(3) Exempt Organizations
The Pension Protection Act of 2006 made significant changes to how 501(c)(3) organizations are classified. The process continues through Treasury Regulations, and some exempt organizations are finding it necessary to restructure in response to the changes. This presentation will explain the difference between private foundations and public charities and will describe the different types of public charities including Type I, Type II, and Type III supporting organizations. The topics discussed will be of interest to practitioners that form and advise I.R.C. Sec. 501(c)(3) organizations. Practitioners who represent institutional trustees (such as bank trust departments) should consider attending to learn about how the new rules affect their clients charitable trusts.
Learning Objectives:
• To understand how a 501(c)(3) organization is classified as either a "private foundation" or a "public charity" and the implications of that classification.
• To become familiar with the legislative changes made by the Pension Protection Act of 2006 and how the ongoing regulatory process has implemented those changes
• To discuss planning opportunities that might be available to organizations that struggle with their newfound Type III supporting organization status

The method of presentation is group-live instruction and the program level is basic. There are no prerequisites for this course nor is there any advanced preparation required.


Oct. 28 - Ethical Business Decisions by Texas CPAs
This new State Board approved course, will cover not only the “rules” of professional conduct, but also realistic workplace situations often experienced by CPAs in industry, government & public accounting. The session will include:
• A lively, interactive format, with substantial group discussions
• Coverage of the Ethics Rules and how they help CPAs make valuable, long-term professional decisions
• Quizzes and case studies, to affirm and illustrate the proper application of “the rules”
Learning Objectives include:
o Understanding of & compliance with the Texas Ethics rules.
o Discussing the spirit & intent of the rules, as the primary focus of resolving ethical decisions.
The course is a group, live format, with no prerequisites or advanced preparation required.