September-October 2024

In this issue:

September 18, 2024

Take Note

Get Involved: Join TXCPA's Key Persons Program to Advocate for the Profession

Are you interested in helping TXCPA expand the CPA pipeline in Texas, protect the CPA license, and/or engage in politics, policy or government affairs? If so, the TXCPA Key Persons Program is for you! The Key Persons Program connects members with legislators to promote the CPA profession and advocate for TXCPA’s legislative agenda. Key Persons actively engage with lawmakers, fostering communication about the importance of the profession and protecting the CPA license.

With the 2025 legislative session approaching, TXCPA is seeking additional members to bolster the program, strengthen relationships with legislators and support TXCPA's efforts in Austin. No formal experience is needed – just a willingness to get involved. Contact Kenneth Besserman or Patty Wyatt for more information, or submit a volunteer interest form. We look forward to working with you in the coming year and in Austin during TXCPA’s Advocacy Day in January 2025.

Unlocking Occupational Wellness: Tips for a Fulfilling Work Life

People with good occupational wellness find their work rewarding, have good relationships with co-workers and find positive ways to handle workplace stress, all while finding a good work-life balance. Learn some tips for maximizing your workplace happiness in this article “Eight Ways to Achieve Optimal Occupational Wellness.”

If you’re struggling with addiction, substance abuse or mental health issues, TXCPA Peer Assistance is here to help. Join a weekly support group, send a confidential message and find more resources at tx.cpa/resources/acan.

Mark Your Calendar for the November Month of Service and Accounting Opportunities Month!

This November, TXCPA is hosting BOTH Month of Service and Accounting Opportunities Month. We encourage members, chapters and organizations to give back by engaging in community service and reaching out to schools and students to share information about careers in accounting. Participation is easy! Click here to learn more and keep an eye on your TXCPA member communications for volunteer details. Plan to help grow the CPA pipeline and elevate the profile of CPAs in your community.

Submit an Article to Today’s CPA Magazine

The editor of Today’s CPA is seeking article submissions for the magazine. Today’s CPA is a peer-reviewed publication with an Editorial Board consisting of highly respected CPA practitioners.

The publication features articles and columns that focus on issues, trends and developments affecting CPAs in all facets of business. If you would like to submit an article for consideration or to learn more, please contact Managing Editor DeLynn Deakins at ddeakins@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

CPA Charge

Goodman Financial

Poe Group Advisors

September-October 2026

In This Issue

Workforce Development

Mentoring Matters: Strengthening the Future of the Profession

Mentoring is a cornerstone of the accounting profession. From supporting students and CPA candidates to accelerating the growth of experienced professionals, mentoring strengthens confidence, preserves institutional knowledge and prepares future leaders. TXCPA's Mentor Match program is designed to help members build meaningful professional relationships that support their career growth and development.
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CPE: Intangible Assets – ASC 350

FASB’s recent targeted GAAP improvements address the accounting and reporting of internally developed software. ASU 2025‑06 replaces development‑stage rules for internal‑use software with a “probable‑to‑complete” capitalization threshold.
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IPR&D
volunteer leadership

Leadership, Innovation and Momentum Take Center Stage at TXCPA's Annual Meeting

TXCPA’s 2026 Annual Meeting brought more than 200 leaders together to celebrate organizational achievements, discuss emerging trends and shape the future of the organization. As the organization enters the final year of its Strategic Plan, the meeting emphasized momentum, collaboration and continued involvement in TXCPA and the accounting profession.
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Expanding the CPA Pipeline: An Important Joint Initiative for CPA Firms and K-12 Schools

CPA firms, universities and professional organizations are using coordinated efforts to expand the future CPA talent pipeline by reaching students much earlier in the K‑12 system. Because many students choose career pathways as early as 8th grade, the authors emphasize shifting outreach toward freshmen and sophomores already inclined toward business studies.
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TXCPA Accounting Opportunities Month
Workforce Development

Mentorship, Momentum and the Future of the Profession

Strong connections are essential to the future of the CPA profession. This CEO's Message highlights the power of mentorship, TXCPA’s efforts to strengthen the accounting pipeline, and the many ways members, volunteers and chapters are helping build opportunities for the next generation of CPAs.
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Outstanding Chapter Awards Recognize Achievements in Leadership and Service

TXCPA’s Outstanding Chapter Awards recognize small and medium-sized chapters for excellence in leadership, member service, innovation and community involvement. The 2025-26 recipients, TXCPA Rio Grande Valley and TXCPA East Texas, were honored for their strong student outreach initiatives, professional development opportunities, scholarship fundraising, member engagement and community service.
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volunteer leadership
Workforce Development

Beyond Tax and Audit: Shedding Light on Alternative Career Pathways

Accounting offers far more career opportunities than traditional tax, audit and financial reporting roles. By introducing students to the diverse ways accounting skills can be applied, educators and practitioners can help the next generation of CPAs see the many possibilities an accounting career can offer.
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What’s Happening Around Texas - September-October 2026

TXCPA chapters across Texas are strengthening connections through student engagement events, legislative conversations, member appreciation gatherings, and strategic planning sessions. From Corpus Christi’s student bowling mixer and to Southeast Texas’ celebration with Lamar University to El Paso's and San Antonio’s focused planning meetings and Victoria’s community‑building event, each chapter is fostering momentum, collaboration and professional growth.
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TXCPA Chapters
Tenure

Is Accounting Academia Still a Good Career Option for CPAs? An Updated Perspective

Is accounting academia still an attractive career path for CPAs? Although demand for accounting Ph.D. graduates has declined despite earlier predictions of faculty shortages, accounting professors continue to enjoy strong compensation, work/life balance, tenure stability and summer flexibility.
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Spotlight Article: Leading Beyond the Numbers

Eric R. Alexander discusses the lessons behind his book “Stewardship Leadership for Stinkin' Accountants: Serving as the CFO” and how a servant mindset, wisdom and relationships create a lasting impact. He explores why trust, accountability and communication are essential to effective financial leadership, especially as AI transforms the profession.
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Strategic Planning
Sustainability reporting

Assessing Materiality of ESG Risks: Guidance for CPAs

This article explains how CPAs can assess and disclose material environmental, social and governance (ESG) risks that may affect a company’s financial position, operations and stakeholders. The concept of double materiality is introduced, which considers both the financial impact of ESG risks on a company and the company’s impact on society and the environment.
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Leading the Way: TXCPA Thanks Our 2026-2027 Faculty and Student Ambassadors

TXCPA celebrates and thanks our 2026–2027 Faculty and Student Ambassadors, whose leadership and enthusiasm bring our programs, resources and opportunities directly to campuses across Texas. Their commitment strengthens our connection to future professionals and fuels the growth of the CPA pipeline statewide.
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volunteer leadership
valuation

Profitable Is Not the Same as Valuable

A profitable business is not necessarily a valuable or transferable one, as enterprise value depends on organizational architecture rather than dependence on the owner’s involvement. The central message: profitable operations generate income, but only well‑structured businesses build equity that can be sold, transferred or relied upon for retirement.
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A New Era for CPA Licensure in Texas – and a Look Ahead

Texas has entered a new phase of CPA licensure with the implementation of Senate Bill 262 on August 1, 2026, creating an alternative pathway that allows candidates to qualify with 120 hours of education and two years of experience, alongside the traditional 150‑hour route. As the 2027 legislative session approaches, TXCPA is preparing to protect strong licensing standards, monitor deregulation efforts and engage newly elected lawmakers.
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Workforce Development
TXCPA Member Insurance

Take Note

In this edition of Take Note: A Legacy of Mentorship - A Tribute to John Baines, CPA-Dallas; Accountants Confidential Assistance Network (ACAN); CGMA® Designation; TXCPA Member Insurance
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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.
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Virtual Accounting