background image
Connecticut CPA
March/April 2018
Contents Group: CTCPA
Connect with us on social media to
get photos, member news, upcoming
events, and more at your fingertips!
In accordance with the bylaws, notice is hereby given
that the annual meeting of the Connecticut Society of
Certified Public Accountants will be held on Wednesday,
May 16, 2018 at Cascade in Hamden. The election and
installation of the 2018-2019 Board of Directors will take
place at that time.
The report of the Nominating Committee is as follows:
Susan A. Martinelli, President-elect for 2017-2018,
will assume the presidency,
Dennis W. Cole for President-elect,
Marie L. Benedetto for Treasurer,
Mitchell R. Insero for Secretary,
Mark R. Torello for Member-at-Large,
Brian P. Reilly for Member-at-Large.
Other nominations may be made in accordance with Sec-
tion 6.4 of the bylaws.
The 2018-2019 Advisory Council, as appointed by the
Nominating Committee, will also be installed at that time.
Michael P. Jordan, incoming chair of the Advisory Council,
will serve as the seventh member of the Board of Directors.
The full proposed leadership slate is available on the CTCPA
website at
Edwin R. Muenzner, Secretary
The Connecticut Society of CPAs
716 Brook Street, Suite 100 Rocky Hill, CT 06067 860-258-4800
Official Notice of the 2018 CTCPA Annual Meeting
4 Editor's Note
6 From the Executive Director
7 Capitol Corner

10 Big Data, Analytics, AI, and the Finance Professional
By Aubrey Joachim, FCMA, CGMA, Leading Edge Change

12 Federal Tax Reform Special Section
A Review of the Tax Cuts and Jobs Act What You Need to Know Now
By Patrick J. Duffany, CPA, JD and Edmund S. Kindelan, CPA, CohnReznick
18 Make Sure You're Prepared for the FASB Revenue Recognition Standard
By Marcus R. Harwood, CPA, MSPA, BlumShapiro
20 Cybersecurity Risk Reviews:
A Practical Approach to Protecting Your Organization
By Jarrett Meiers, Blueprint Essential, a Division of Reynolds + Rowella
23 FASB Proposes Not-for-Profit Accounting Standards Update to Clarify
Accounting for Contributions Received and Contributions Made
By Michael J. Rolleri, CPA, University of New Haven and Whelan Rolleri & DePietro
and Robert Wnek, J.D., LL.M., University of New Haven
Upcoming Programs and Events
5 The 2018 CTCPA Annual Meeting: Accounting in Extraordinary Times
Featuring keynote speaker AICPA President and CEO Barry Melancon, CPA, CGMA
8 Member Groups and Meetings
Member Matters
9 Member Holiday Drive Supports Connecticut Children's Medical Center
26 Company Moves and Promotions
27 Welcome, New Members!
28 Member News
29 Classifieds
30 Member Snapshots