• FASB
• Partnership
• Profits interest
• Profits-interest contracts
• Tax

Profits interest is a form of partnership ownership that offers recipients a share of future profits without a capital contribution. While offering strategic advantages, profits-interest contracts involve complex tax and accounting considerations and remain subject to potential regulatory changes.

By Barbara W. Scofield, Ph.D., CPA, and Jim Martin, MPA, CPA

• Becoming a CPA
• Leadership
• Membership
• Volunteer

Members in Austin held a happy hour to wrap up tax season and Houston members volunteered at the Botanic Gardens. Permian Basin members teamed up with UTPB students for a city cleanup. Southeast Texas gathered for a Spring Meeting and Victoria enjoyed a festive Member Appreciation Event.

• Leadership
• Membership
• Volunteer

Introducing TXCPA’s 2025-2026 chapter leaders – a dynamic group of professionals ready to elevate the accounting profession. With passion, purpose and a bold vision, they’ll guide our chapters forward and help shape the future of TXCPA across the state.

• AI
• Artificial Intelligence
• Audit
• Large Language Model Technologies
• Large Language Models (LLMs)
• Management

Large Language Models (LLMs) are transforming accounting and auditing by improving efficiency, uncovering financial trends and analyzing unstructured data, but using them also introduces risks, especially biases from training data and algorithms. Professionals are encouraged to stay educated on AI trends to use LLMs effectively.

By Karina Kasztelnik, Ph.D.

• Becoming a CPA
• Leadership
• Legislative Advocacy
• Volunteer

In his first message as TXCPA Chair, Billy Kelley discusses his passion for TXCPA and goals for the year. He also reflects on the recent Annual Meeting in Galveston and encourages member engagement.

By Billy Kelley, CPA-Permian Basin

• Becoming a CPA
• Leadership
• Legislative Advocacy
• Membership
• Volunteer

TXCPA had a highly successful 89th Legislative Session, securing two major wins. Senate Bill 262 creates an additional pathway to CPA licensure and Senate Bill 522 modernizes CPA practice mobility. These achievements strengthen the CPA pipeline and protect the public.

By Kenneth Besserman, JD/LLM

• Business and Industry
• Environmental, Social and Governance (ESG)
• Management
• Practice Management
• SEC

The SEC has introduced climate-related disclosure rules to improve transparency for investors, sparking both support and criticism. This article highlights how businesses can view Environmental, Social and Governance (ESG) not just as a compliance issue but as a value-creating strategy.

By Derrick Bonyuet, Ph.D., CFA, CFP, CPA

• Management
• Marketing
• Practice Management
• Public Practice

This article discusses common misconceptions that CPAs have about marketing and how even the most successful innovators have marketed their ideas effectively. It offers practical tips for CPAs to market themselves authentically by focusing on excellent client service, continuously improving their skills and committing to execution.

By Jack Thurman

• Becoming a CPA
• Leadership
• Membership
• Volunteer

In this edition of Take Note: Accounting Opportunities Month; TXCPA Leadership Nominations; Accountants Confidential Assistance Network (ACAN); CGMA® Designation for Management Accountants; TXCPA’s 2025 CPE Programs; Accounting Excellence Awards Presented

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