Decosimo Holds Accounting Seminar May 13

Wednesday, April 30, 2014

Decosimo will host the 2014 Decosimo Accounting Seminar on Tuesday, May 13, at the Chattanooga Convention Center from 8:15 a.m. to 5 p.m.  This year’s seminar will feature an update on Generally Accepted Accounting Principles (GAAP) to be presented by keynote speaker Dr. Richard Townsend. The keynote address will take place in the morning, while the seminar will feature afternoon breakout sessions covering business management topics, including the latest in cyber security and information on planning issues in family businesses. 

As part of his address on GAAP updates, Dr. Townsend will speak on revenue recognition, discontinued operations, development stage enterprises, going concerns, leases, and the status of actions by the FASB’s Private Company Council.  Dr. Townsend is an Associate Professor Emeritus at the University of Tennessee, Knoxville, where he taught both undergraduate and graduate financial accounting courses from 1969 to 2012. Holding a Ph.D. from The University of Texas at Austin, Dr. Townsend regularly conducts continuing professional education courses on reporting and disclosure for the Tennessee Society of CPAs, Georgia Society of CPAs, corporations and public accounting firms.

The afternoon Cyber Security breakout sessions will feature Sam Bailey of Staffing Technologies detailing how companies and organizations can best secure customer information against cyber threats. In the following session, Decosimo’s Bill Acuff will discuss best practices to recognize, detect and prevent many common fraud schemes. 

“Planning Issues in Family Businesses” will be a featured topic in another of the seminar’s afternoon breakout sessions. Decosimo’s Mike Costello, Shannon Farr and Bob Wheat will address the unique challenges found in family businesses when planning for growth, succession and other business management issues.  “Tax Planning with Insurance,” presented by Rodney Miller of Highland Brokerage, will complete the list of breakout sessions. Mr. Miller’s presentation will focus on strategies for utilizing insurance instruments to reach tax planning objectives. 

Participants in the afternoon breakouts will come together for a final session that will provide perspective on the current business climate. Presented by Tom Decosimo and Mike Costello, who oversee Decosimo Advisory Services, this session will examine the latest conditions affecting businesses in various industries. The presentation will also offer strategic approaches on how to navigate through the challenging times associated with a still-recovering economy. 

The registration fee is $99 for the full-day seminar. Attendees may earn up to 8 hours of continuing professional education (CPE). The registration deadline is May 6. 


Corker Asks Colleagues To "Oppose Blatant Budget Gimmick Proposal To Fund Highway Trust Fund"

In remarks on the U.S. Senate floor Monday, Senator Bob Corker said senators should reject using a budget gimmick known as pension smoothing to pay for a short-term extension of the Highway Trust Fund and instead commit to a long-term, sustainable solution to highway funding. “Many claim that budget gimmicks should not be used as offsets to pay for spending," said Senator Corker. ... (click for more)

Cornerstone Community Bank Has Rise In Earnings

Cornerstone Bancshares, Inc. (OTCBB: CSBQ; CSBQP), parent company of Cornerstone Community Bank, today reported earnings for the second quarter ended June 30, including a rise in income. Net income for the quarter was $409,000, a 3.3 percent increase from the same quarter of 2013.  Net interest income increased 5.5 percent from the same quarter last year. “Cornerstone ... (click for more)

EPB Says It Did Not Overbill The City; Says City Got $685,877 Break

EPB officials said Tuesday that an exhaustive audit of its street light contract with the city showed that it did not overbill the city. Instead, it said it found that the city was underbilled $685,877. EPB said it only goes back one year on errors so the amount owed by the city would be $178,314. Officials said that would be discussed with the city. Stan Sewell, the city's ... (click for more)

Citizens To Comment Next Tuesday On Sound Control Ordinance That Allows Higher Sound Around Downtown Clubs

Citizens will be allowed to comment next Tuesday on a new Sound Control Ordinance that allows higher sound from nightclubs in a downtown Controlled Sound Boundary. Track 29 behind the Chattanooga Choo Choo, that has drawn the wrath of some nearby Southside residents, is within the boundary, which goes from Fourth Street to Main Street. The hearing before the City Council ... (click for more)

The Truth- From Weston’s Sister

I try not to read the negative articles and opinions about my older brother. Growing up around politics, I learned a long time ago that thick skin is not only necessary, it’s paramount. But this time, the lies and the rumors and the inaccurate information has gone too far. It’s too ridiculous for me to ignore. So let’s clear a few things up: Weston and I do not “come ... (click for more)

Roy Exum: Oscar Brock’s True Passion

I don’t pay much attention to the Hamilton County School Board. Once the moon and the stars aligned behind Superintendent Rick Smith, you hear very little, if anything, from the nine-member council that oversees an annual budget of almost $400 million and employs 4,480 people. So chew this for a minute: approximately 2,000 of those people are not teachers. Yes, there are 78 principals ... (click for more)