Fall 2012 issue of Horizons

TABLE OF CONTENTS

horizons A publication by RubinBrown LLP FALL 2012

Features

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Welcome from the Managing Partner

RubinBrown News

Chairman’s Corner

Chairman James G. Castellano, CPA

RubinBrown Celebrates 60 Years! From Three-Man Firm to Three Cities

Managing Partner John F. Herber, Jr., CPA

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Compilation, Review, or Audit? Learn Which One You Need and What to Expect

Denver Office Managing Partner Gregory P. Osborn, CPA Kansas City Office Managing Partner Todd R. Pleimann, CPA

Timely Reminders

Industry-Specific Articles

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media & entertainment A Look at the Evolution of Publishing Because the industry has weathered many challenges over the past 60 years, there is optimism for future evolution.

construction Managing Construction Risks During Lean Times Identifying the most common risks to proactively plan for them.

life sciences

Editor Dawn M. Martin

Reflections on the BIO Conference, Healthcare Reform and M & A Activity Midwest leaders in attendance

Art Director Jen Chapman

with international representatives; tax implications of medical devices; and big ideas receive largest financial support.

Horizons, a publication of RubinBrown LLP, is designed to provide general information regarding the subject matters covered. Although prepared by professionals, its contents should not be construed as the rendering of advice regarding specific situations. If accounting, legal or other expert assistance is needed, consult with your professional business advisor. Please call RubinBrown with any questions (contact information is located on the back cover). Under U.S. Treasury Department guidelines, we hereby inform you that any tax advice contained in this communication is not intended or written to be used, and cannot be used by you for the purpose of avoiding penalties that may be imposed on you by the Internal Revenue Service, or for the purpose of promoting, marketing or recommending to another party any transaction or matter addressed within this tax advice. Further, RubinBrown LLP imposes no limitation on any recipient of this tax advice on the disclosure of the tax treatment or tax strategies or tax structuring described herein.

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not - for - profit

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Not-For-Profit Consolidation Rules

public sector

Require Careful Analysis Understanding how the complexities of GAAP impact nonprofit entities. hospitality & gaming Internal Controls for Private Clubs What it means when the auditor says you lack segregation of duties in your accounting department.

Self-Insuring Can Help Manage Healthcare Costs

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manufacturing & distribution

Governments are trying innovative ways to keep costs down without sacrificing service to citizens and benefits for employees.

Expensed Versus Capitalized: Tangible Property Helping manufacturers determine how property expenditures should be categorized. real estate Multi-Family Market Continues to Surge Current uncertain economy makes renting an attractive option for much of the marketplace.

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transportation & dealerships

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Organizational Risk for Automotive Dealers Steps to minimize predictable risks and best practices for unpredictable weather- related disasters.

Readers should not act upon information presented without individual professional consultation.