Fall 2013 Issue of Horizons

TABLE OF CONTENTS

horizons A publication by RubinBrown LLP FALL 2013

Features

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Welcome from the Managing Partner

RubinBrown Adds New Leaders & Promotes 11 to Partner, 14 to Manager

Chairman’s Corner

Chairman James G. Castellano, CPA

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Timely Reminders

Managing Partner John F. Herber, Jr., CPA

Industry-Specific Articles

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

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manufacturing & distribution

gaming It’s All About Expansion for the Gaming Industry The gaming industry continues to flourish on both a global and national level. Gaming expansion is everywhere

life sciences Life Sciences Patent Issues and Funding Updates In June 2013, the White House task force on high- tech patent issues issued an initiative designed to facilitate continued innovation and help ensure the continued development and delivery of high-quality patents in the U.S. real estate Accounting Changes Proposed for Affordable Housing Industry Proposed changes in the accounting of investments in affordable housing tax credits would bring about clarity for investors and potential major increases in investments in low income housing tax credits. public sector Why Accounting and Financial Reporting for Governments is Different than Businesses Governments’ accounting and financial reporting standards and resulting financial statements are similar to those of businesses, but maintain a number of key differences.

Supply Chain – Push or Pull?

Optimizing your supply chain has become a key driver to success for manufacturing and distribution companies. Being able to deliver the right product at the right time to the customer has become a baseline expectation. Medical Practices: New Models to Adapt to the Ever-Changing Healthcare Environment Medical practices have long looked at surgery centers, clinics and other ancillary services for additional revenue sources to support their core businesses. However, medical practices have learned over the years that they need to be cognizant as healthcare laws have potentially limited the ability of practices to have ancillary service models. professional services

Editor Dawn M. Martin

– expanded event space, hotel rooms,

gaming floor square feet, gaming positions/types, and gaming regulations.

Art Director Jen Chapman

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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.

not - for - profit Sustainability for Not-For- Profit Organizations The last few years have been very difficult for many not-for profit organizations; and while there have been

some mergers and/ or dissolutions, most organizations have

survived, although clearly some better than others.

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construction

The Slow Road to Recovery

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

The recovery of the construction industry continues to move along slower than any of us would like. The good news is that positive sentiment within the industry seems to be increasing.