May-June 2024
In this issue:
- New Data Privacy Law in Texas: A New State Law Takes Effect on July 1, 2024
- With ASU 2023-08, FASB Moves to Address Accounting for Certain Crypto Assets
- Delivering Value to Match Your Needs
- What’s Happening Around Texas
- Big Tax Relief in Texas
- Spotlight on CPAs: Toni L. Joyner, CPA-Brazos Valley
- CPE Article: SAS 143 - New Guidance on Auditor’s Responsibilities Relating to Accounting Estimates
- TXCPA’s 2023-2024 Year in Review
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New Data Privacy Law in Texas: A New State Law Takes Effect on July 1, 2024
The Texas Data Privacy and Security Act (TDPSA) was signed in June 2023 and will take effect July 1, 2024. It regulates how businesses handle personal data of Texas residents. Texas is the sixth state to implement a major data privacy law. CPAs should understand this law for their business compliance and client guidance.View Article -
With ASU 2023-08, FASB Moves to Address Accounting for Certain Crypto Assets
FASB has taken steps to enhance transparency for select crypto assets, providing stakeholders with better insight into their influence on reporting entities. Within the FASB framework, crypto assets are classified as intangible assets, treated as indefinite-lived assets subject to impairment testing, with no reporting of value increases or prior impairment recoveries.View Article
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Delivering Value to Match Your Needs
As we wrap up another year serving our 28,000-member community, we want to express our appreciation for your continued trust in TXCPA. Through ongoing member research, we identify the services and benefits members value most, which include protecting your license, education and keeping you informed on professional matters. These priorities shape our commitment to enhancing our professional community.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 the TXCPA chapters. With 20 strong local chapters, TXCPA members connect in their communities and across Texas.View Article
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Big Tax Relief in Texas
Texas is often known as being big and doing big things. This spirit is evident in recent tax legislation, signed by Governor Greg Abbott, which represents the largest tax relief in the state's history. Achieving this milestone required two special sessions of the Texas Legislature.View Article -
Spotlight on CPAs: Toni L. Joyner, CPA-Brazos Valley
In this Spotlight on CPAs article, we introduce you to Toni L. Joyner, whose career has spanned roles in industry and government accounting. She currently serves as the County Auditor of Madison County, Texas. With a fervent dedication to leadership, Toni actively contributes to TXCPA as a committed member and works to advance the accounting profession.View Article
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CPE Article: SAS 143 - New Guidance on Auditor’s Responsibilities Relating to Accounting Estimates
In July 2020, the Auditing Standards Board released SAS 143, entitled Auditing Accounting Estimates and Related Disclosures. The new guidance supersedes AU-C Section 540 and amends various other AU-C Sections. It is effective for audits of financial statements ending on or after December 15, 2023.View Article -
TXCPA’s 2023-2024 Year in Review
What a remarkable year for TXCPA! Led by Chair Tim Pike, CPA-Dallas, CFE, CGMA, we've empowered members to lead and succeed by offering a range of professional resources, information and education opportunities while championing the CPA profession.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;
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