Off the Ledger

Abby Davis- Tax Associate

During busy season, it’s easy to feel overwhelmed with the all the projects that are assigned to you. You don’t know which way is up! But, one thing I have learned is that you should not be afraid to ask for help. Most likely, there are other co-workers who are more than willing to help you. I have found that asking for help can really help to manage your time when it may seem nearly impossible.

First, prioritize! Make a list of your work by due date or by client expectations. That way, you can focus on projects that need to be completed by upcoming deadlines. Discuss your projects with your in-charge, they can help when you’re not sure what is of a higher priority. Also, let someone know when and if you ever become “overloaded.” They can help reassign the project. Who knows, there may be someone else in need of work. It can save everyone time, and help you feel a lot less stressed.

So, even though busy season can be overwhelming at times, if you aren’t afraid to ask for help when you need it, it can go by much smoother. Take it from me!

Mickie Huneycutt- Tax Manager

In October, my husband and I learned that we were expecting a baby in June. We were beside ourselves with joy! My second thought? I have to make it through busy season pregnant!? Oh no! Most new moms dread those hot summer months, but in my world, January to April are much worse.

I am a tax manager, so I am usually in the PKM office instead of client sites. This year however, I took on some new projects which involved a bit of traveling. How was I going to do that with visions of “pink or blue” constantly dancing in my head, not to mention, the fatigue, morning sickness, and weight gain that are about to come my way?

Luckily, I did not fall victim to morning sickness. At least there’s one worry off my list. Fatigue? Of course. But I think that comes with the territory. I’m not getting too much sympathy for that. I did experience major swelling on the flight to a client in Florida. But I got to spend three days in lovely Naples, which more than made up for a little water retention.

Being pregnant during busy season does have its perks. For one, I’m more conscience about what I eat. Most busy seasons, if the tax department is ordering pizza, I am in, and I want mine with extra pepperoni. I’d worry about shedding those tax season pounds after April 15th. But, since I’m trying to start my unborn child off right - I eat lots of protein, fruit, and veggies. I pack the right snacks - so I don’t get overly hungry and fuel my brain all day. Don’t get me wrong, I do indulge in the Friday doughnuts on occasion, but that’s another perk to being pregnant during busy season… this year, the weight gain is legit!

My body needs its sleep now more than ever, which is hard to come by this time of year. To ensure I’m giving my body the rest it needs, I’ve been staying on top of my clients to get their information to us so we can work on it now instead of pulling an all-nighter on April 14th. It’s amazing when you tell people you are pregnant, how understanding and timely they become. (Maybe I should tell my clients I’m pregnant every year?!)

An added bonus of being pregnant during busy season - is that my pregnancy has gone by much faster. My days are - indeed - busy. I don’t have time to sit around and complain about my pregnancy woes or speculate if I am going to have a son or a daughter. Will the baby have my husband’s eyes? My nose? It’s all going to be a big surprise in June! And this tax mama can’t wait!

Warren Puy Arena- Director of Information Systems

No other time in recent history, since the great depression, has been more challenging to our personal finances than the one in which we live. A combination of slow economic grow, high unemployment, combined real estate and financial assets deflation, and the essential “meltdown” of our nation’s financial system have made a big dent to our retirement accounts and changed people’s perception about their retirement. As in any previous downturn, an increasing number of people are unhappy with the available retirement investment options and the institutions in charge of managing their retirement funds.

While older generations have had the greatest negative impact on their retirement accounts, successful Gen Xers and older investors recognize the value of long term investment strategies they applied when they were the same age as the current Gen Yers.

Here are some tips:

Start saving for retirement as early as possible. The earlier you begin the easier it will be to achieve your financial goals disregarding the ups and downs, boom/bust cycles of the economy. Let the power of compounding work magic on your retirement account. Start saving the moment you receive your first paycheck!!

Pay yourself first. Put money away for your retirement and other financial goals (emergency fund, house down payment, etc.) before you pay anything else. The best way to do this is to have the money deducted automatically from your account as soon as it is deposited by your employer.

Maximize your savings. Aim to save 20% of your income but no less than 10%. Gradually increase this percentage as you get older. Contribute the maximum allowed to your employee sponsored retirement plan. Especially at companies such as PKM where there is a matching contribution to the plan.

Diversify. Not only diversify across the different asset classes (stocks, bonds, cash, real estate, etc.) but also diversify your investments inside each class (e.g. make sure you own domestic large, mid and small cap stocks as well as international stocks in your portfolio). You should also protect your retirement from potentially higher taxes in the future by contributing to a Roth plan. This is especially attractive to the younger investor as his/her investments will grow “tax-free” for a longer period of time without having to pay taxes on the principal and earnings during retirement. PKM offers a Roth version of its 401K plan.

In short, if you are part of the millennial generation and have not yet started to save for retirement, you may want to consider doing so now. Today’s investment options allow you to achieve a high degree of diversification and, first and foremost, “time is on your side”.

Gail Hoggard- Controller

There are many great perks that come along with working at PKM for over 17 years. I have seen a lot of people come and go and I feel like I have almost become a grandmother to some. The culture at PKM is just like a small family, from Partners to Staff, everyone feels comfortable interacting with one another. Here at PKM, we are on a first name basis and I pride myself with knowing everyone, even if it takes of couple of tries to get it right :)

Alison Derringer- Tax Staff

Over the last year I’ve learned that working in the tax department at a CPA firm usually means I have a regular routine, and I’ve become accustomed to this routine. I know each morning where I will be working and that everything I need will be right there at my desk. However, this busy season has provided me with new opportunities to travel to more client locations and provide our tax services.

Here are a few things I have learned this busy season about being at a client site:

• You need to make sure you have all the supplies that you might need to work. Notepads, pens, ten key, power adapter for the computer, internet cord, white out, and any other supplies you might be accustomed to having at your fingertips. You still might forget something, but usually you can find ways to get by without it.

• Always check with your manager as to what the dress code is, directions, and what time to arrive. Working in the office provides more flexibility as to when you get into work; however, the client might not open until 8:30 am and you cannot access the building before then. Working in the field means taking into account the environment of the client’s workplace.

• You will go out for lunch. When I am in the office I frequently pack my lunch, but out at the client I can always count on grabbing something for lunch with co-workers. This is nice because during the hectic time of the year that we are in, it allows for an opportunity to catch up with friends.

This busy season has taken me out of my comfort zone of my office routine and allowed for me to have different experiences and variety in my daily routine. I have definitely gained a new appreciation for auditors and all the travel that they do. Traveling at work allows for new opportunities and a change of pace; however, I will always enjoy the extra monitors, snacks, and coffee that come with working in our office!

Kevin McCreary- Systems Senior

Whenever you take a position that provides consulting and assurance services to companies across the region, be sure to sign up for all the points and benefits that you can relating to travel. I would start off by getting a credit card that provides you additional points or miles. I would recommend talking to your fellow co-workers prior to choosing a card to find out what hotels and airlines the individuals you work with typically use for business travel. Next you need to begin signing up for the benefits. Visit the websites of each of your travel partners and create a profile. If you have done any personal travel in which you have not obtained points for, at this time you can request that those stays or flights be added to your current profile. Also be sure to sign up for all of the emails that send specials and deals. These emails provide deals that can sometimes double the amount of points or miles you obtain during your travel.

When using points, evaluate your status and position; as your status moves up with each travel partner, so do the perks!! You can receive up to 100% in additional points and miles based on your status. For example, I once took a flight at the end of the year just to get additional miles in order to move me up to the next status level. This is because the extra status level allowed me to receive a 100% bonus miles on all flights that I take during the next calendar year. Hotel status can provide certain perks like free breakfasts, drink coupons, and suite upgrades. I haven’t paid for a hotel on personal travel for the last two years and I have known individuals that have had their honeymoons paid for using sky-miles and hotel points so be sure to get all you can out of the time that you travel.

So remember to get the most out of your work travel and instead of seeing it as a hassle, just think about all of the potential benefits down the line!

Mike Morris- Systems Principal

If you were testing the security of a house, you might walk around the perimeter of the house checking the doors and windows to see if they were unlocked. You might also look under the doormat for a hidden key. In theory, testing a company’s network is not much different. However, instead of physically walking around the house, you assess the points of entry using the same scanning tools and techniques that hackers might use.

PKM’s Systems group performs network vulnerability assessments (NVAs) for our clients to assist them in identifying internal and external weaknesses in their network security. As a part of this service, we scan the internal and external networks, review network device configurations and test user security awareness. The Systems group’s team members are provided hands on training in the field as well as continuing professional education (CPE) in network security.

So, as you can see, working for a CPA firm isn’t always number crunching. Sometimes we even get to play the role of detective and help our clients mitigate security threats.

Salman Hasan- Systems Associate

As a member of the Systems Group at PKM, we often have to travel to various places. And, learning how to travel well is a skill you can take with you for the rest of your life. Here are a few tips that I have learned that will help you get through the airport with ease!

1. Don’t waste time looking for parking. If you are traveling on a Sunday- there’s a good chance you may find a decent spot. If it’s a Monday, forget it. Go to the back of the lot and just walk.

2. If your trip is for a week, there is no reason you should have to check in bags. Stick to one color. You don’t need brown shoes and black shoes. Just pick one and roll with it.

3. You can save time by printing your boarding pass at home or by printing at one of the many kiosks located at the airport.

4. You can also save time by having your frequent flyer number memorized. Nothing is more irritating than a person holding up a kiosk line looking for a credit card…that person needs to read this blog entry!

5. Knowing how to get through the security line quickly can make or break your time. While in queue, use this time wisely. Begin to put all unnecessary items in either your laptop bag or your carry-on luggage. Know how many bins you need! You will need one for your laptop, one for the liquids you are carrying on and one for your shoes and coats. All shoes come off- even flip flops, it’s a rule. Don’t waste time by testing this rule. Men should look to invest in some slip on dress shoes. If you are wearing a belt, take it off, unless you know from prior experience that the belt will not make the metal detector go off. If you can consolidate your bins, do it! Keep in mind that you cannot have items on top of each other. Also keep your “liquid’s bag” in the front of your luggage, so that is easily accessible. Finally, organize the items as they go through security. This is critical- you want to get everything off the belt and back on you in the least amount of time. It helps to be focused.

Hopefully with the above tips, airport travel will be less stressful and much more efficient for yourself and others around you.

Anna Barnes- Audit Associate

After working for PKM for only five months, I got engaged and found out that I would be moving from Atlanta to Macon, GA. I was a little timid about moving, because I did not want to lose my job or lose the clients I had already formed great relationships with. However, after talking to some of the partners, they assured me they would make it work.

I was nervous to change all of my clients after the relationships I had with my original clients had started to grow. One of the partners here came to me and said, “You’ll thank me one day, because I am going to put you on the Middle-Georgia jobs so you can see your husband.” While I was a little apprehensive at first, I do thank him now. I love the clients I work with in Middle-Georgia, and it is great seeing my family as much as possible. The partners and scheduling team at PKM worked really hard to change my schedule around and allow for the move. It is a continuous effort to schedule all PKM employees near their homes.

I have one client that was especially picked out for me, in South Georgia near my parent’s home. It is an internal audit, so I spend about four weeks of the spring and summer months in Fitzgerald, GA, where I grew up. I usually have great meals at night, and see all my grandparents while I am working. Last spring, I got to spend some very precious time with my grandfather before he passed away in late May. It really made me appreciate PKM and the thought process that goes into the scheduling here

Ben Brackmann- Audit Associate

As we are now in the middle of “busy season,” the amount of hours worked, and the need to prioritize to-do’s becomes very important. As the first real rush to get audits out the door is upon us, it makes sense to have a good system in place to ensure that nothing slips through the cracks. A few good organizational tips to help manage the stress and rigors of busy season are:

• Make a master to-do list: Put overall projects and goals down on paper, with details and due-dates to make sure you know when and where things have to get done

• Use a calendar: Sure, it may take more time up-front, but if you mark all due date for work and personal events down in one place, you’ll get a great picture of how things are stacking up (and how to balance everything that’s going on this time of year)

• Make a habit of staying current: Update your lists and schedule to ensure that you stay current with all of your to-do’s

With that said, putting these tips to good use will make sure that “busy season” is a little less stressful, and that you get a lot more done -and on time too!

Jenna Green-Systems Associate

We all know that passing the CPA exam is a huge milestone in the life of an accountant and that the commitment involved in passing the exam can be overwhelming at times. I know that before the exam, you need all the advice you can get so I thought I would share some of the tips I have learned along the way.

First, begin studying for the exam as soon as you can, especially while you are still in college. I know you hear this from everyone but it is absolutely true!! You may be busy studying in school but as you begin working full-time it only becomes harder to sacrifice social events with co-workers during the week and time with family and friends on the weekends. Getting a head start will take you a long way!

Second, make a commitment to go over the Becker reading material at least once and to complete all of the Becker study questions. If you successfully complete the Becker study questions and mark those questions that you did not get right the first time around to practice the second time around you are right on track to passing the exam. This seems like it is an easy feat, however, many times the reason people do not pass parts of the exam is because they do not complete all of the study questions at least once beforehand.

Third, do not get discouraged if you are unable to pass parts of the CPA exam on the first try. This can be a very difficult task and it is important to stay positive and focused on the end-result to ultimately accomplish your goal.

Fourth, reward yourself for your achievements! Each time you pass a portion of the exam give yourself at least a week off to enjoy yourself and have time with friends and family without the stress of the exam weighing on you! Just remember, the sooner you pass the exam the more relieved you will be and you will be on your way to a successful career as a CPA.

Carrie Connell- Audit Senior

Last week I was at a Super Bowl party and as I was taking the last bite of my hot dog, my friend asked me the same question that I am constantly asked every year between January 1st and April 15th…. “Oh! Since you’re a CPA, can you do my taxes?” My next response was, “well, will you still fill out the 1040EZ? If the answer is yes, then of course I can. If the answer is no, then I suggest you find a tax accountant, as I have been auditing financial statements for over five years and still feel like I am missing something when I fill out my own 1040EZ.” I definitely enjoy being in the audit department at PKM; however, there are many that are on the fence about which department they want to join—audit or tax. Then there are others that may just want to dabble in another department in order to better understand “the other side.” A wonderful aspect to PKM is that they understand this and at times allow rotations from the audit department to the tax department and even from the audit department to the information systems department. By taking advantage of these rotations more of us auditors may one day be able to say, “as a matter of fact, yes, I can do your taxes!”

Heather Bodner- Systems Manager

As a manager at PKM one of my responsibilities is recruiting. I have the pleasure of attending lots of different recruiting events at various universities. One of the most important things I take away from recruiting events is an impression of all the students that I have met. As you have probably heard many times, “you never get a second chance to make a first impression,” so it’s important to make your first one great! Here are a few Do’s and Don’ts to consider when at career fairs.

• Dress like a professional - Miniskirts or bright red four-inch heels may look great for going out to a party but they are probably not the best choice when meeting with potential employers. When in doubt, always learn toward the more conservative side.

• Handshakes - Remember you’re shaking hands, not arm wrestling. Try not to do any excessive shaking and don’t crush the recruiter’s hand. A firm, brief handshake will do.

• Grooming - Besides dressing like a professional, remember to focus on your personal grooming, such as well groomed hair, conservative makeup and no unusual piercings. Believe it or not, although accountants can be a bit a crazy at times, an eyebrow, nose and/or chin rings are not very common and may give potential employers second thoughts about how you might fit in with their firm and more importantly be perceived by their clients.

• Prepare an introduction - Introduce yourself! Its sounds simple enough but you would be surprised by how many times we have to ask recruits their name, their year in the accounting program, and what type of employment they’re looking for. Come ready to talk about yourself!

• Be ready to ask questions - Don’t let the recruiters do all the talking. Do your homework and after introducing yourself be prepared to ask a few simple questions about the firm or the recruiters you’re talking to. We’ll be impressed!

Keep these tips in mind and hopefully your first impression will be a lasting one—in a good way!