September-October 2023
In this issue:
- Help Wanted
- Accounting and Auditing: SEC Finally Issues Long Overdue Rules Requiring Extraction Companies to Report Payments to Governmental Entities for Resource Development
- 2022-2023 Outstanding Chapter Awards
- TXCPA’s Annual Meeting of Members
- Attracting and Retaining Talent: How Ignoring Organizational Culture and Employee Wellness Can Cost Your Business
- Pragmatic CPA’s Guide to ESG Reporting
- Corporate Transparency Act: Are You Prepared?
- Share Repurchase Programs
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Help Wanted
We hear from members across the state that staffing continues to be their top challenge. Here is a summary of the programs and resources we have to support you in meeting your staffing challenges today and in the years to come.View Article -
Accounting and Auditing: SEC Finally Issues Long Overdue Rules Requiring Extraction Companies to Report Payments to Governmental Entities for Resource Development
After two previously unsuccessful attempts to promulgate reporting requirements for extraction companies laid out in Dodd-Frank, the SEC has issued rules that require disclosure of payments made to commercially develop oil, natural gas or other minerals. The requirement in the Dodd-Frank Act was enacted to address perceived corruption in the extractive industries.View Article
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2022-2023 Outstanding Chapter Awards
To inspire chapters in their continuing work to elevate member service, TXCPA bestows Outstanding Chapter Awards to the small and medium-sized chapters. TXCPA San Angelo and TXCPA Permian Basin received the awards in 2023.View Article -
TXCPA’s Annual Meeting of Members
TXCPA members and their guests traveled to Fort Worth for the 2023 Annual Meeting of Members in June. It was an opportunity for members to connect and network with each other and with TXCPA leaders, while also learning about key issues in the profession and having some fun.View Article
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Attracting and Retaining Talent: How Ignoring Organizational Culture and Employee Wellness Can Cost Your Business
In the world of accounting, the focus on financials often overshadows the critical role corporate culture plays in business performance. Research shows that employees at high-growth firms are more satisfied with their company cultures than employees at slower growing firms, an advantage associated with lower turnover. Learn the tips and techniques that can be used to recruit and retain employees.View Article -
Pragmatic CPA’s Guide to ESG Reporting
Companies must decide for themselves if the benefits of voluntary Environmental, Social and Governance (ESG) reporting exceed the costs. CPAs differ widely about the wisdom of placing significant reliance on ESG measurements. Most, however, agree on a simple fact: the sector has grown to a size that can no longer be ignored.View Article
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Corporate Transparency Act: Are You Prepared?
Congress enacted a new, significant and pervasive compliance program: the Corporate Transparency Act (CTA). The CTA requires reports of beneficial ownership information (BOI) and is estimated to affect more than 32 million existing entities (even after exemptions). Initial reporting for existing entities will commence January 1, 2024, and must be completed before January 1, 2025.View Article -
Share Repurchase Programs
Share repurchases have become commonplace in the modern economy. This article does not deliberate on merits or pitfalls of share repurchase programs, but rather focuses on the accounting issues that companies may deal with in their share repurchase programs. It also covers two recent developments in share repurchase accounting: the Inflation Reduction Act of 2022 and the Securities and Exchange Commission (SEC) disclosure requirements effective on October 1, 2023.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