A key challenge for management accountants and manufacturing companies is managing operations and the resulting impact on financial statements. Standard procedures, work instructions and shop floor decisions significantly influence the financial performance of inventory-focused companies. Effective monitoring of five tollgates of inventory movement is essential.

Madhuri Bandla is a Senior Lecturer of Accounting at the University of North Texas G. Brint Ryan College of Business. She is dedicated to student success, mentoring and volunteering, aiming to positively impact the university, the accounting profession and the local community. Learn more about her career path and her commitment to teaching, learning and facilitating professional development.

The article highlights the growing cybersecurity risks facing CPAs and accounting firms as digital transformation reshapes the landscape. As firms adopt advanced technologies like AI and automation to streamline operations, they become prime targets for cybercriminals due to the sensitive data they hold. Ensuring strong security practices is essential for protecting sensitive data.

Read about an important update from AICPA’s National Pipeline Advisory Group. The group released a report outlining six strategies to address the accounting talent shortage, including enhancing education, supporting CPA Exam candidates and increasing diversity. TXCPA, now in the third year of our CPA Pipeline Strategy, is aligning our efforts with these national initiatives to boost outreach and workforce development.

TXCPA’s Annual Meeting and Leadership Council Meeting was held on June 28-29, 2024, at the Omni Frisco Hotel, blending networking, learning and fun. Leaders reviewed the accomplishments of 2023-2024 and set priorities for 2024-2025. TXCPA also emphasized community-building through local chapters, service initiatives and diversity efforts. TXCPA aims to continue addressing CPA pipeline issues, growing the membership, enhancing member benefits, and supporting advocacy initiatives.

Learn about some of the recent events and activities that happened around the state in the TXCPA chapters.

Each year, Outstanding Chapter Awards are awarded to the small and medium-sized chapters to inspire their continuing work to elevate member service. For 2023-2024, TXCPA San Angelo and TXCPA South Plains received the awards. Read about their impressive accomplishments.

The SEC issued final rules in March for climate-related disclosures. Just a month later, the SEC issued a stay even though the rules do not become effective until 2026. With a pending review in the U.S. 8th Circuit Court of Appeals, the SEC stated that the stay’s purpose is to avoid regulatory uncertainty until the court hears the matter.

Managing a growing company involves balancing daily operations with strategic planning, financial management, marketing and compliance. In smaller firms with fluid roles, it can be hard to focus on all functions equally. Consultants can offer valuable expertise and solutions, helping business owners achieve their goals more effectively.

Focus on the CPA pipeline issue has become a key topic in the accounting profession. Various task forces, state societies and legislative bodies are working on addressing the shortage of CPAs, and TXCPA is actively involved in national efforts. TXCPA is also exploring legislative changes in Texas, while ensuring that CPA mobility – allowing CPAs to practice across state lines without additional licensing – is preserved.

A big thank you goes to TXCPA's 2024-2025 Faculty and Student Ambassadors! Our ambassadors play a vital role in enhancing TXCPA’s presence on Texas campuses, helping us better understand how to support educators and students. Together, we are working to expand the pipeline of future CPAs in Texas.

In this edition of Take Note: Join TXCPA's Key Persons Program; Occupational Wellness - Tips for a Fulfilling Work Life; November is Month of Service and Accounting Opportunities Month; Submit an Article to Today’s CPA Magazine

The classified ad section of Today's CPA offers a dynamic marketplace, featuring listings for practice owners looking to sell, professionals seeking firms to purchase and a variety of specialized services. Whether you're looking to expand, sell or explore niche opportunities, this section connects professionals with valuable business prospects and resources.