September-October 2024

Flipbook

In this issue:

September 18, 2024

TXCPA Thanks Our Faculty and Student Ambassadors!

Faculty and student ambassadors help us strengthen TXCPA’s presence on Texas campuses and learn more about what we can do to support Texas educators and students as we focus on growing the pipeline of CPAs in Texas. Learn more in the Be An Ambassador section of TXCPA's website. Many thanks to these ambassadors for their support and engagement in 2024-2025!

Faculty Ambassadors

Linda Acevedo, CPA, The University of Texas Rio Grande Valley

Dr. Susan Anders, CPA, CGMA, Midwestern State University

Pamela Ansboury, CPA, M.Ed, San Antonio College

Michelle Avila, CPA, Our Lady of the Lake University

Madhuri Bandla, CPA, CFE, University of North Texas

Helen Bassett, Lone Star College – University Park

Okera Bishop, CPA, Austin Community College – Highland

Tara Blasor, CPA, Texas A&M University

Kelli Blount, CPA, Austin Community College – Northridge

Derrick Bonyuet-Lee, CPA, CGMA, University of Texas at Austin and Huston-Tillitson University

Regina Brown, Dallas County Community College District – Eastfield

Ricardo Colon, JD, LLM, CPA, Lamar University

Ginger DeLatte, CPA, Texas A&M University – Corpus Christi

Tiffany DeLuze, DBA, University of Mary Hardin-Baylor

Dennis Elam, CPA, Texas A&M University – San Antonio

Mary Beth Goodrich, CPA, University of Texas at Dallas

Dr. Marina Grau, CPA, Houston Community College

Jessica Hazel, CPA, McLennan Community College

Narita Holmes, CPA, University of Texas Permian Basin

LaPortia Hurse, Dallas County Community College District – Brookhaven

Selena Jefferies, CPA, Texas A&M University – Texarkana

Dr. Michael Kraten, CPA, University of Houston

Anne-Marie Lelkes, Ph.D., CPA, CMA, Texas A&M University – Kingsville

Yongli Luo, Houston Christian University

Kristy McDermott, CPA, Austin Community College – Round Rock

Dr. Arpita Shroff, CPA, University of Houston – Downtown

Kathleen Moffitt, CPA, CIA, Texas State University

Celinda Moore, CPA, Texas Tech University,

Dr. Renee Olvera, CPA, Texas Christian University

Julia Frink, Tarrant County College – Connect

Patrick Grewe, Tarrant County College – Northeast

Marsha Peters, Dallas County Community College District – Mountain View

Jacqueline Pierson, CPA, CFF, Lone Star College – CyFair

Dr. Richard Pitre, CPA, Texas Southern University

April Poe, CPA, University of the Incarnate Word

Daniel Puhl, CPA, Sam Houston State University

Dr. Laci Richardson, CPA, Lubbock Christian University

Sarah Robertson, CPA, University of Texas at El Paso

Jawanna Sanderson, CPA, Sul Ross State University

Stacie Smith, Kilgore College

Shanshan Pan, University of Houston – Clear Lake

Larry Stephens, CPA, Austin Community College – South Austin

Stephanie Swaim, CPA, Dallas County Community College District – North Lake

Jay Thibodeaux, II, CPA, Austin Community College – Eastview

Charles Thomas, Jr, CPA, CGMA, Tarleton State University

Linda R. Vaello, CPA, University of Texas at San Antonio

Dr. Robert Walsh, CPA, University of Dallas

Dr. Kimberly Webb, CPA, Texas Wesleyan University

Denise White, Austin Community College – Cypress Creek

Sunita White, CPA, Trinity University

Veronda Willis, CPA, CGMA, University of Texas at Tyler

Patricia Wynn, CPA, CMA, CGMA, CFE, CSCA, University of North Texas at Dallas

Ziyun (Calvin) Yang, University of Houston – Victoria

Jaye Simpson, Tarrant County College Northwest

Student Ambassadors

Abdul Aweda, Texas State University – San Marcos

Erica Acosta, Texas A&M University – San Antonio

Gabriela Benavides, University of Texas at San Antonio

Noel Casino, St. Mary's University

Emilio Castaneda, University of Texas at Austin

Gail O’Banner, University of North Texas at Dallas

Nelson Rose, Trinity University

Vaishnavi Jayaraman, University of Houston

Rosa Son, Houston Christian University

Amanda Perrin, Schreiner University

Ninelle Gutierrez, University of Texas at El Paso

John Varghese, Dallas County Community College District

Lenora Williams, Midwestern State University

Alma Martinez, Del Mar College

Ashley Bynum, Texas Wesleyan University

Ayham Rached, University of Texas at Dallas

Erin McSpadden, University of North Texas

Fei Song, University of Texas at Austin

Iman Raji, Huston-Tillotson University

Javier Solis Jr., Dallas County Community College District – Eastfield

Min Tan, Austin Community College

Nubia Hayes, Prairie View A&M University

Sally Simmons, Lubbock Christian University

Shalisa Smith, Tarrant County Community College

 

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




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