July 2001

Trustees Listen to Membership, POP Pass Is Back

NEW YORK—Members’ calls for a return to last year’s discounted pricing plan for continuing professional education (CPE) events have been heard and the POP Pass is back.

On June 28, the Board of Trustees for the Foundation for Accounting Education (FAE) unanimously voted to bring back the Pay-One-Price (POP) Program and it will come with significant advantages over previous discount CPE plans offered by FAE.

“Based on the feedback from our membership, I think the only way to serve our members was to reintroduce POP because the feedback indicated dissatisfaction with the VIP over the POP and that probably is evident in the number of people who signed up for the VIP,” FAE President P. Gerard Sokolski said.

The reintroduction of the POP will mark the second time the pass has been offered to Society members, replacing the short-lived VIP Pass, which members felt had too many restrictions, according to Alan Schmelkin, FAE director of operations. As of May 31, sales of the VIP Pass totaled $430,300, while sales of the POP in 1998, 1999 and 2000 averaged $1,000,000 for each year.

Originally introduced in late 1997, the new POP allows CPAs and firms to pay a set fee and take up to 10 eight-hour days of FAE continuing professional education seminars beginning Sept. 1 through Aug. 31, 2002. The VIP Pass, which launched last fall, offered members six days of CPE seminars, not including conferences.

Come Oct. 1, the POP Pass will cost $1,195 for members and $1,695 for nonmembers and firms. However, FAE is offering an “early-bird” special that knocks $100 off both the member and nonmember/firm passes if purchased by Sept. 30.

Whereas the VIP Pass excluded conferences, which are more expensive to hold than courses, the POP will allow individuals to attend conferences as part of the 10-day limit, with a $50 surcharge included for each conference. However, the surcharge will be waived for the first conference attended by each POP Pass holder.

While the POP provides a unique discount opportunity for all who use it, the pass is especially advantageous for sole practitioners who do not have the luxury of having their CPE courses paid for them by a firm. Nevertheless, firms will also find the POP Program beneficial as a POP firm pass allows anyone in the practice to attend a CPE seminar. Member and nonmember passes must be used by the original purchaser.

“By being a member of the Society and taking advantage of the POP Program, members will save tremendously over what the regular price would be for attending CPE events,” Schmelkin said.

Though the POP will permanently replace the VIP on Sept. 1, FAE is offering free of charge four more eight-hour days of CPE seminars to anyone who purchased the VIP Pass. To register for the additional four days, which must be used by Aug. 31, 2001, call FAE registration at (212) 719-8383 or (800) 537-3635.

For CPAs and firms that wish to take advantage of the POP program for the remainder of the summer, the pass is currently available at the early bird rate(s). The pass must be used by Aug. 31, 2001, and there will be no balance carried forward. Similarly, for passes purchased for the 2001/2002 year, there will be no carryover to the following year for unused days and no refunds.