Insights

Recently I attended the AICPA Major Firms Conference that was held at the Ritz Carlton in Laguna Niguel, CA. The Major Firms Group is a distinguished group of the top 75 accounting firms in the country, of which Schneider Downs & Co. is a proud member. The Group meets twice a year, and is attended by the firms CEOs and/or key management representatives (I am giving myself too much credit). The Conference provides tremendous exchange of best practices among the top Firms, regulatory/legislative updates regarding topics facing the profession and good networking opportunities with key colleagues within the profession.

The July Conference circled around the current economic environment and how firms (and clients) are navigating through these tough times. The keynote speaker was Mr. Robert Dye, Vice President and Senior Economist for PNC Financial Services Group. The overriding message from Mr. Dye is that there seems to be some evidence that the recession is coming to an end, however, he stressed that by no means has the tough times ended. In addition to Mr. Dye’s comments, Barry Melancon, AICPA president, provided an overview of current issues facing the profession including some legislative updates on bills that could impact how CPAs do business in the 21st century. As anticipated, due to the financial meltdown, more oversight and regulation seems to be on its way.

All in all it was a good 2+ days in California. Who can beat weather in southern California any time of the year? I can understand why 11+ % unemployment exists in California, since it didn’t seem like anyone was working. However, the economy appears to be strong at the Ritz Carlton in Laguna Niguel. I was fortunate to attend this event with my 19 year-old son. Needless to say, we had good quality time together over the three days we spent traveling to and from San Diego. Upon arrival at our hotel, he ordered room service which consisted of chicken wings and a fruit plate to tide us over until our dinner event. $101 for a dozen chicken wings and a few pieces of fruit left me feeling that a turnaround in the economy can’t be too far away.

 Schneider Downs provides accounting, tax and business advisory services through innovative thought leaders who deliver the expertise to meet the individual needs of each client. Our offices are located in Pittsburgh, PA and Columbus, OH.

This advice is not intended or written to be used for, and it cannot be used for, the purpose of avoiding any federal tax penalties that may be imposed, or for promoting, marketing or recommending to another person, any tax-related matter.

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