March-April 2025

Flipbook

In this issue:

2024-2025 Scholarship Recipients

The TXCPA Accounting Education Foundation (AEF) is proud to recognize and support the next generation of accounting professionals by awarding scholarships to a group of outstanding students. These scholarships go beyond just providing financial assistance - they serve as a gateway to a thriving community of experienced professionals who are committed to guiding and empowering students on their journey toward a successful career in accounting.

Through mentorship, networking opportunities and access to invaluable resources, recipients gain more than just funding; they gain a support system that will help shape their future in the profession. Congratulations to these exceptional students for their dedication, hard work, and commitment to excellence!

Named Scholarship Recipients:

Jerry and Rozelyn Love Endowed Scholarship (Kimberly Alvarez)

James A. & Charlotte Ann (Charlie) Smith Scholarship (Alyssa Frankis)

Erik & Felix Lopez Memorial Scholarship (Grant Mahlmann)

Ann Michele King Memorial Scholarship (Mary Raymond)

Robert "Bob" Owen Scholarship Fund (Cayla Ng)

Kym Anderson Scholarship (Trinity Perez Martinez)

Kelly Hunter Scholarship (Amber Molina)

Steve Tillinger Scholarship (Haylee Reyna)

Willie Hornberger Scholarship (Kailey Kessler)

Gene Sumrall Scholarship (Kate Bentley)

C. Jeff Gregg Memorial Scholarship (Sean Macias)

TXCPA Fort Worth Chapter Scholarship (Grant Sheehan)

Scholarship Recipients:

Erica Acosta
Texas A&M University - San Antonio

Sadaf Ahmed
University of Texas at Arlington

Felicia Alvarado
University of the Incarnate Word

Kimberly Alvarez
Angelo State University

Shawn Arthur
Texas State University - San Marcos

Ayaan Asim
University of Texas at Dallas

Abdullahi Aweda
Texas State University - San Marcos

Rayyan Baloch
University of Texas at Dallas

Kate Bentley
Sam Houston State University

Carmen Bernal
University of Houston - Downtown

Brant Bolton
Texas Tech University

Coressa Bosier
Texas State University - San Marcos

Brianna Brown
Texas Lutheran University

Cierra Brown
University of North Texas at Dallas

Jaden Chandler
Lamar University

Reina Cruz Castillo
University of Houston - Downtown

Maxine DePalma
University of Texas at Tyler

Priscilla Eshun
University of Texas at Rio Grande Valley

Alyssa Frankis
University of Texas at Arlington

Jose Garcia
University of Texas at Rio Grande Valley

Samantha Garcia
University of Texas at Rio Grande Valley

Unnati Goel
University of Texas at Tyler

Aye Aye Thet Han
University of Houston - Main

Hailey Hernandez
University of the Incarnate Word

Ethan Hexter
University of North Texas

Natasha Kataw
Texas Christian University

Aaron Kenigsberg
Houston Community College

Kailey Kessler
University of Texas at Austin

My King
San Antonio College

Rachel King
Texas Tech University

Li Li
University of Texas at Dallas

Kevin Longoria
Texas State University - San Marcos

Jean Lozano
San Antonio College

Sean Macias
Trinity University

Grant Mahlmann
Texas A&M University - College Station

Melika Mohammed
Trinity University

Amber Molina
University of Houston – Main

Mohammad Hammaad Mondal
Texas Tech University

Drew Morrison
Angelo State University

Aizhan Mukhametzhanova
Rice University

Cayla Ng
University of North Texas

Trinity Perez Martinez
University of Texas at El Paso

Mary Raymond
Texas A&M University - College Station

Elexus Reid
Houston Community College

Haylee Reyna
Texas A&M University – Kingsville

Michelle Sanchez
University of Houston - Downtown

Sheila Sanchez
University of Texas at Rio Grande Valley

Brianna Schnell
University of Texas at Tyler

Edward Sengai
San Antonio College

Grant Sheehan
Tarleton State University

Maura Teer
Texas Christian University

Alicia Tijerina
Texas State University - San Marcos

Cruz Untz
Texas State University - San Marcos

Dane Wiest
Texas Tech University

Casey Ybarra
University of Texas at Rio Grande Valley

Yann Zigman
Trinity University

 

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

CPA Charge

Goodman Financial

Poe Group Advisors

 

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

  • Investing in the Future Through the Silent Auction

    View Article
    TXCPA Silent Auction
  • Scope 1, 2 and 3 emissions

    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

  • 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
    Pro Bono Services
  • Quality Control Systems

    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

  • 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
    Xero
  • Tax‑Exempt Securities

    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

  • 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
    Quantum Computing
  • volunteer advocacy

    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

  • 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
    volunteer leadership
  • Service differentiation

    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

  • 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
    Word Challenge

  • 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