May 08, 2026

Take Note

Renew Your TXCPA Membership Today!

Now is the time to renew your TXCPA membership! Keep your membership active and continue accessing the tools, support and connections that help CPAs succeed.

  • Stay Informed: Protect your license and stay current on key issues and trends
  • Build Your Skills: Enjoy high-quality education, including at least 20 free CPE hours
  • Grow Your Network: Connect with CPAs across Texas for collaboration and opportunity

Renewing is quick and easy – log in to our website or contact member services for help. Don’t miss out. Renew today.


ACAN: Confidential Support When You Need It

When stress or life feels overwhelming, the Accountants Confidential Assistance Network (ACAN) offers free, confidential peer support for CPAs, candidates and students – available whenever you need it. One-on-one support, group meetings and referrals are just a conversation away. Reach out anytime at 866766ACAN or 2145662854, or visit tx.cpa/community/peer-assistance.


TXCPA's 2026 CPE Programs

Event Calendar. The full 2026 event calendar is live! Review upcoming programs, lock in early-bird rates and mark your priorities now. Upcoming conferences in May and June include:

  • Technology Conference, May 4-5
  • Virtual Energy Conference, May 11-12
  • Single Audits & Governmental Accounting and Auditing Conference, May 14
  • Nonprofit Organizations Conference, May 18-19
  • Texas School Districts Accounting and Auditing Conference, June 1-2
  • CPAs by the Bay, June 15–17
  • Business Valuation, Forensic Accounting and Litigation Services Conference, June 16-17

Click here to see the full calendar and register.

Free CPE for TXCPA Members. Your membership includes at least 20 hours of FREE CPE! Click here to see the upcoming schedule and register.

TXCPA Passport – CPE on Your Schedule. The TXCPA Passport is your one-year subscription to on-demand CPE. See the current list and subscribe now at www.tx.cpa/education/passport.


Word Game: Positioning That Powers Growth

Test your insight and word-finding skills with this quick, interactive game based on the article “Why Positioning Matters More Than Ever for CAS Firms.” Find key terms and revisit core ideas like focus, scalability and strategic alignment – all in a fun, fast challenge.

Questions

  1. How a firm clearly defines who it serves and what it solves (11 letters)
  2. Services that go beyond transactional work (8 letters)
  3. A clear market or industry concentration (9 letters)
  4. A key result of effective positioning (6 letters)
  5. The ability to expand efficiently with repeatable systems (5 letters)
  6. When marketing and operations reinforce each other (5 letters)
  7. The core structure or underlying elements that enable a business to operate and grow

Answers are among these words

ADVISORY • EXPERIENCE • VALUE • WORKFLOW • POSITIONING • INDUSTRY •
CLIENTS • SERVICES • SCALE • OPERATIONS • REVENUE • GROWTH •
REPEATABLE • MESSAGING • FOCUS AREA • MARKETING • CAS • CYCLE • ALIGN •
AUDIENCE • CONSISTENCY • SYSTEMS • FOUNDATION • NICHE • DELIVERY •
STRATEGIC • MARGINS
Hints
  1. P__________
  2. A__________
  3. F____ A____
  4. G__________
  5. S__________
  6. A__________
  7. F__________
Click here to see the answers.

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:

8amCPACharge

Accounting Biz Brokers

Accounting Practice Sales

Goodman Financial

Paychex

TXCPA Member Insurance


  • 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
  • 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