January-February 2026

Flipbook

In this issue:

February 10, 2026

Take Note

Join Us for the 2026 Midyear Leadership Council and Members Meeting!

January 22-23, 2026 | College Station, TX

Mark your calendar for Thursday and Friday, January 22–23, 2026, at the Texas A&M Hotel and Conference Center in College Station. This event is open to all TXCPA members and offers an incredible opportunity to stay informed and connected. You’ll gain valuable insights with TXCPA and professional updates, while networking with peers who share your passion for excellence.

What better backdrop than College Station – a city that began as a humble railroad town and has evolved into a dynamic hub of education, innovation and entrepreneurial spirit. Home to Texas A&M University, it’s a place rich in history and energy, offering something for everyone to enjoy. Also, come in a day early and attend a Federal Tax Update on January 21. Click here to register.

Texas A&M Hotel & Conference Center | 177 Joe Routt Blvd, College Station, TX 77840 | Learn more about the meeting

A Confidential Place to Turn: Support Through ACAN

Accounting is rewarding, but the stress and pressure can take a toll. If you’re struggling, the Accountants Confidential Assistance Network (ACAN) provides confidential, peer-to-peer support for CPAs, candidates and students.

ACAN is protected by Texas law, free to use, and available anytime by call or text. Services include one-on-one support, referrals, interventions and weekly Zoom meetings. Austin meets Fridays at 12 p.m., Dallas meets Mondays at 6:15 p.m., and the Women’s Group meets on the first and third Tuesdays at 12 p.m.

Reach out at 866-766-ACAN or 214-566-2854 or click here to learn more.

Advance Your Career with the CGMA® Designation

The Chartered Global Management Accountant (CGMA®) designation – jointly developed by the AICPA and CIMA – is a globally respected credential for management accountants. It represents strong skills in strategic thinking, leadership and financial analysis.

Highly regarded by employers, the CGMA stands out for its worldwide recognition, emphasis on strategy and leadership, and commitment to ethics and professionalism. Learn more on the CGMA website.

TXCPA's 2026 CPE Programs

Upcoming Conferences

Nonprofit Organizations Conference

May 18 – 19 | Live/InPerson | Webcast/Webinar

Texas School Districts Accounting and Auditing Conference

June 1 – 2 | Live/InPerson

Technology Conference

May 4 – 5 | Webcast/Webinar

Virtual Energy Conference

May 11 – 12 | Webcast/Webinar

Federal Tax Update Programs

Navigate 2025 tax law changes with this practical update designed for CPAs, enrolled agents and tax professionals. Gain clear guidance on H.R. 1, compliance risks and real tax-saving strategies for your clients. Choose the location that works best for you. Click here to see the schedule and select your session.

2025-2026 Free CPE Webcasts for Members

Professional Issues Update

February 11 | February 26 (Replay from Feb 11) | May 6 | May 21 (Replay from May 6)

TXCPA Passport – CPE on Your Schedule

Constantly refreshed content with new courses and updates added regularly. Click here to see the current list and subscribe now.

View the complete schedule and register now in the Education area of our website at tx.cpa or call the TXCPA staff at 800-428-0272 for assistance.

Discover Your Next Big Opportunity - or Your Next Star Hire - at TXCPA’s Career Center!

Whether you're ready to take the next step in your accounting or finance career, or you're looking to bring top-tier talent into your organization, TXCPA’s Career Center is your go-to destination.

Job Seekers: Explore a wide range of openings, apply with ease and build your free Job Seeker Profile to get noticed by employers across Texas.

Employers: Post jobs at exclusive discounted rates - and internships are always free! Connect with qualified professionals who are ready to make an impact.

Getting started is easy. Click here and log in with your TXCPA credentials to unlock a world of possibilities.

Thanks to the Sponsors of Today's CPA Magazine

This content was made possible by the sponsors of this issue of Today's CPA Magazine:

Accounting Biz Brokers

Accounting Practice Sales

Capstan Tax

8amCPA Charge

Goodman Financial

 

 

May-June 2026

Flipbook

In This Issue

  • TXCPA Strategic Plan

    Building What’s Next: TXCPA’s 2025-26 Year in Review

    TXCPA’s 2025–26 Year in Review highlights how the organization is responding to rapid change in the accounting profession through a clear strategic vision focused on people, innovation and advocacy. Key efforts include new programs, enhanced CPE and learning through AcctoFi, and technology and chapter integration initiatives. The year also marked major legislative wins, positioning Texas as a national leader.
    View Article

  • CPE: Option-Based Contracts and Foreign Currency Transactions

    This article covers option-based contracts in foreign currency transactions and their treatment as derivatives under ASC 815. It highlights how options differ from forwards and futures, outlines call and put options and their accounting implications, defines key derivative terminology, and illustrates how FX options can hedge one-sided currency risk while preserving upside potential.
    View Article
    Underlyings
  • volunteer leadership

    Celebrating Progress. Shaping What’s Next.

    This issue of Today’s CPA reflects on TXCPA’s achievements during the 2025–2026 membership year while looking ahead to the future. It highlights advocacy successes, profession updates, expanded education offerings, technology investments, and strong member and volunteer engagement. As the year closes, members are encouraged to stay engaged and help shape what’s next.
    View Article

  • CARB vs. No-CARB – The California Climate Accountability Package

    California’s Climate Accountability Package significantly expands corporate climate disclosure requirements, mandating detailed greenhouse gas emissions reporting and climate‑risk analysis for companies doing business in the state. Ongoing legal challenges remain, but enforcement timelines are intact, placing growing responsibility on companies and CPAs to manage data quality, Scope 3 estimates and audit‑ready disclosures.
    View Article
    Scope 1, 2 and 3 emissions
  • Pro Bono Services

    Justice for Fraud Victims Project: Bridging the Justice Gap in Financial Fraud

    The Justice for Fraud Victims Project (JFVP) is a national program that delivers free forensic accounting and fraud investigation services to vulnerable individuals, small businesses and nonprofits. With partnerships among universities, anti-fraud professionals and law enforcement, they help uncover financial crimes and educate future forensic accountants. The model is expanding, including a new program at Lubbock Christian University.
    View Article

  • A Refresher on Auditor Independence: Best Practices Every CPA Should Know

    Auditor independence is essential to maintaining trust in the accounting profession, requiring both objectivity and the appearance of impartiality. Common threats - such as self-interest, self-review and familiarity - continue to lead to violations. Strong firm policies, ongoing training and effective use of technology are key to preventing these issues.
    View Article
    Quality Control Systems
  • Xero

    After QuickBooks Desktop: What CPAs Need to Know Now

    This article outlines the key implications of QuickBooks Desktop's phased discontinuation, including service discontinuation risks, operational failures, backup and archival strategies, migration challenges, and alternative accounting platforms. It also provides guidance for CPAs to take a proactive approach to managing and executing client migrations.
    View Article

  • Are Municipal Bond Investors Sitting on a Ticking Tax Bomb?

    Tax‑exempt municipal bonds purchased at deep discounts can quietly trigger ordinary income taxation under the IRS de minimis rule, eroding after‑tax returns and creating surprise tax bills at maturity. By comparing after‑tax “true yield” and proactively swapping discounted bonds for higher‑coupon alternatives, CPAs and financial advisors can help clients defuse a hidden tax bomb and improve portfolio outcomes.
    View Article
    Tax‑Exempt Securities
  • Quantum Computing

    Risks, Realities and the Evolving Role of CPAs Auditing Emerging Technologies

    Emerging technologies are reshaping auditing by embedding automation, advanced analytics and decentralized systems into core business processes. While these tools improve efficiency and insight, they introduce new risks that challenge traditional audit approaches. CPAs must adapt methods, rely more heavily on professional judgment, and uphold independence and integrity to sustain trust in financial reporting.
    View Article

  • What’s Happening Around Texas - May-June 2026

    TXCPA chapters across Texas are making an impact through service, networking and professional development. Recent highlights include volunteer and scholarship efforts in Austin, community engagement and member meetups in Dallas, student outreach and advocacy in East Texas, and career-focused events in Houston that strengthen connections within the accounting community.
    View Article
    volunteer advocacy
  • volunteer leadership

    Advocacy Update – Elections and the 2027 Legislative Session are Right Around the Corner

    TXCPA is preparing for the 2027 Texas legislative session as the 2026 elections shape the political and policy landscape. Key focuses include monitoring election outcomes, emerging legislative issues and national deregulation efforts that could impact CPA licensure and practice, while encouraging continued member engagement and advocacy.
    View Article

  • Why Positioning Matters More Than Ever for CAS Firms

    Client advisory services deliver the most value when firms clearly define who they serve and which problems they solve. Clear positioning enables standardized workflows, repeatable service offerings and more predictable growth.
    View Article
    Service differentiation
  • Word Challenge

    Take Note

    In this edition of Take Note: Renew Your TXCPA Membership; Accountants Confidential Assistance Network (ACAN); 2026 CPE Programs; Word Game - Positioning That Powers Growth
    View Article

  • Classifieds

    The Classifieds section of Today's CPA provides a one-stop destination to find practices for sale, connect with buyers, and access services that support growth, transition and market expansion.
    View Article

CHAIR
Mohan Kuruvilla, Ph.D., CPA

PRESIDENT/CEO
Jodi Ann Ray, CAE, CCE, IOM

CHIEF OPERATING OFFICER
Melinda Bentley, CAE

EDITORIAL BOARD CHAIR
Jennifer Johnson, CPA

MANAGER, MARKETING AND COMMUNICATIONS
Peggy Foley
pfoley@tx.cpa

MANAGING EDITOR
DeLynn Deakins
ddeakins@tx.cpa

COLUMN EDITOR
Don Carpenter, MSAcc/CPA

DIGITAL MARKETING SPECIALIST
Wayne Hardin, CDMP, PCM®

CLASSIFIEDS
DeLynn Deakins

Texas Society of CPAs
14131 Midway Rd., Suite 850
Addison, TX 75001
972-687-8550
ddeakins@tx.cpa

 

Editorial Board
Derrick Bonyuet-Lee, CPA-Austin;
Aaron Borden, CPA-Dallas;
Don Carpenter, CPA-Central Texas;
Rhonda Fronk, CPA-Houston;
Aaron Harris, CPA-Dallas;
Baria Jaroudi, CPA-Houston;
Elle Kathryn Johnson, CPA-Houston;
Jennifer Johnson, CPA-Dallas;
Lucas LaChance, CPA-Dallas, CIA;
Nicholas Larson, CPA-Fort Worth;
Anne-Marie Lelkes, CPA-Corpus Christi;
Bryan Morgan, Jr, CPA-Austin;
Stephanie Morgan, CPA-East Texas;
Kamala Raghavan, CPA-Houston;
Amber Louise Rourke, CPA-Brazos Valley;
Shilpa Boggram Sathyamurthy, CPA-Houston, CA
Nikki Lee Shoemaker, CPA-East Texas, CGMA;
Natasha Winn, CPA-Houston.

CONTRIBUTORS
Melinda Bentley; Kenneth Besserman; Kristie Estrada; Holly McCauley; Craig Nauta; Kari Owen; John Ross; Lani Shepherd; April Twaddle; Patty Wyatt