May-June 2022

In this issue:

Future Ready and Looking Ahead

CEO’S MESSAGE

By TXCPA President and CEO Jodi Ann Ray, CAE

TXCPA President and CEO Jodi Ann Ray, CAE

It has been an amazing year for TXCPA thanks to this community and despite the many challenges we have all endured in the last 24 months.

With the dedication of our volunteers, leaders, chapters and committed members, we are ending our 2021-2022 year with more members, more educational offerings and more progress towards the completion of our strategic plan.

Our cover story will share more about the goals we have reached and the objectives we checked off the list over the past 12 months. The progress we are making as an organization is positioning us to be future ready and even stronger while we serve our loyal membership base and attract future members to join us.

Looking ahead, we are excited to welcome new members through expanded membership categories, implement a statewide strategy focused on growing the CPA pipeline, energize and expand our educational offerings, and continue to ensure that the CPA license remains protected and attractive to those ready to enter this exciting profession.

Each of you has played an important role in taking TXCPA into the future. If you would like to find ways to be even more involved and engaged in TXCPA, please reach out so we can find the best fit for your time and talents. We are better because of the many members who choose to serve the Society and the profession.

Thank you for your continued dedication and commitment! We look forward to doing more great things with you, and for you, in 2022-2023.

Share Your Thoughts
I’d love to hear your feedback and answer your questions. Drop me a note at jray@tx.cpa or connect with me on LinkedIn at https://www.linkedin.com/in/jodiannlafreniereray

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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PCC Addresses Priority Private Company Issues in Q2

This update summarizes the Private Company Council (PCC) activities for the second quarter of 2026. During its June meeting, the council prioritized improving financial disclosures for Employee Stock Ownership Plans (ESOPs) and targeted lease accounting simplifications for private companies, and discussed FASB's decision to add a project on subjective acceleration clauses and debt default disclosures.
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Private Company Council
volunteer leadership

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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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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valuation
Workforce Development

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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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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TXCPA Member Insurance
Virtual Accounting

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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