July-August 2024
In this issue:
- Introducing Our New Chair, Mohan Kuruvilla
- CPE: Distinguishing Debts from Equity - Warrants Issued in Conjunction with Debt Instruments
- Corporate Transparency Act: An Update
- What’s Happening Around Texas
- 2024-2025 TXCPA Chapter Officers
- Tackling the Talent Shortage
- The 2024 Election and the Upcoming 2025 Legislative Session
- Will Others Follow BDO’s Lead to Attract and Retain Staff?
- Spotlight on Cyber Insurance
- Take Note
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Introducing Our New Chair, Mohan Kuruvilla
Mohan Kuruvilla, Ph.D., CPA-Houston, is serving as TXCPA's Chair for 2024-2025. His focus is on modernizing accounting education with data analytics and AI while addressing the talent shortage through experiential learning and stronger academic-employer partnerships. His objectives for the year include promoting continuous learning and attracting students to the accounting profession.View Article -
CPE: Distinguishing Debts from Equity - Warrants Issued in Conjunction with Debt Instruments
Stock warrants give an entity the right to buy or sell a security at a set price before a certain date, deriving value from their underlying asset, similar to stock options. Companies may issue these warrants alongside equity or debt instruments. This article focuses on warrants issued with debt instruments, analyzing their classifications and accounting implications based on ASC guidance.View Article
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Corporate Transparency Act: An Update
Now that 60 days have passed since the Corporate Transparency Act was implemented, this article provides an update on the latest issues. Even if CPAs are not responsible for BOI filings, they should monitor changes in guidance and relay this information to their clients to keep them aware.View Article -
What’s Happening Around Texas
In What’s Happening Around Texas, we give you highlights of events and activities happening around the state in TXCPA and the TXCPA chapters.View Article
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2024-2025 TXCPA Chapter Officers
See the listing of new TXCPA chapter officers. This dedicated group of volunteers will be leading the chapters in the 2024-2025 year.View Article -
Tackling the Talent Shortage
The July/August issue of Today's CPA features the first message from our new TXCPA Chair. He writes that it's an exciting time for accounting educators, particularly in light of TXCPA's multi-year CPA Pipeline Strategy and involvement with AICPA's National Pipeline Advisory Group, all aimed at addressing the talent shortage in the accounting profession.View Article
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The 2024 Election and the Upcoming 2025 Legislative Session
The 89th Session of the Texas Legislature starts on January 14, 2025, following a tumultuous 2024 election season where the Texas House saw many incumbents defeated and significant political upheaval. TXCPA invites input on important legislative issues as we prepare for the upcoming session.View Article -
Will Others Follow BDO’s Lead to Attract and Retain Staff?
Facing a decline in new entrants and retention issues, BDO USA implemented an Employee Stock Ownership Plan (ESOP), departing from the traditional partnership model. This shift gives BDO's employees ownership stakes, aligning their interests with the firm's long-term success. This move may set a precedent for other large and mid-market firms to follow.View Article
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Spotlight on Cyber Insurance
Cyber insurance is essential for protecting businesses from the increasing frequency and cost of cyberattacks. Standalone cyber insurance policies provide comprehensive coverage, including incident response, business interruption, cybercrime, and privacy liability. This insurance is particularly crucial for accounting firms, which are frequent targets of cyberattacks, helping them mitigate financial and reputational damages.View Article -
Take Note
In this edition of Take Note: TXCPA Connects With 2,800+ Students During Accounting Opportunities Month; Purchase a Listing in TXCPA’s New Employer Guide; TXCPA’s Career Center; Top Meditation Apps; Leadership Nominations; TXCPA Recognizes 2023-2024 Award RecipientsView 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;
Nikki Lee Shoemaker, CPA-East Texas, CGMA;
Natasha Winn, CPA-Houston.
CONTRIBUTORS
Melinda Bentley; Kenneth Besserman; Holly McCauley; Shicoyia Morgan; Craig Nauta; Kari Owen; John Ross; Lani Shepherd; April Twaddle; Patty Wyatt