November-December 2025

Flipbook

In this issue:

November 05, 2025

Our Rising Stars Shine Brightly

Billy Kelley, TXCPA Chair

Chair’s Message

By TXCPA Chair Billy Kelley, CPA-Permian Basin

I’m honored to introduce the November/December issue of Today’s CPA – our Rising Stars issue! This edition celebrates the future of our profession by highlighting an inspiring group of emerging leaders who are making a difference in their communities and in our profession. Having received this honor myself in 2013, I know firsthand how meaningful it is to be acknowledged by your peers and the TXCPA community.

This issue also highlights TXCPA’s active role in shaping the profession through advocacy and technical expertise. In addition, you’ll find timely insights on estate planning, sustainability assurance standards approved by IAASB and a practical review of information security guidance for tax professionals – critical knowledge as we prepare for the upcoming busy season.

Finally, don’t miss “What’s Happening Around Texas” for updates from our chapters and members across the state. TXCPA is strong because of you – your engagement, your expertise and your commitment to excellence.

Thank you for all you do. Let’s finish 2025 with momentum and look ahead to a bright new year.

How can we support you?

Send me a note with your suggestions for how TXCPA can help you this year. Email me at chair@tx.cpa.

 

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

CPA Charge

Goodman Financial

Paychex

Poe Group Advisors

TaxDome

 


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