September-October 2024

Flipbook

In this issue:

September 01, 2024

Every Member Plays a Part

CEO Message

Welcome to your September/October issue of Today’s CPA! Here you’ll find valuable updates on the profession and our TXCPA community. I want to share with you one very timely update and a request for your help.

At the end of July, AICPA’s National Pipeline Advisory Group (NPAG) released their final report with proposed profession-wide solutions to address the talent shortage and attract more people to a career in accounting. The report addresses six themes:

  • Make the academic experience more engaging
  • Address the time and cost of education
  • Grow support for CPA Exam candidates
  • Prioritize strategies to expand access for underrepresented groups
  • Enhance the employee experience by evolving business models and cultures
  • Tell a more compelling story about accounting careers

Having a national strategy focused on workforce development is a key step in leveraging our power as a profession across AICPA and all state CPA societies. TXCPA is in our third year of a CPA Pipeline Strategy, drafted in 2022 by the Pipeline Task Force led by TXCPA Chair Mohan Kuruvilla, Ph.D., CPA-Houston. The task force wanted to take immediate steps to enhance and expand TXCPA’s outreach. They agreed that when a national strategy was introduced, TXCPA would incorporate those initiatives into our state-level plan to help support momentum across the country.

We’re working now on updating our plans and sharing ways our members, volunteers and chapters can help support this important work. It will take all of us working together to effect change and overcome some of the demographic and education trends that are facing the CPA and accounting profession.

The simplest way to add your voice to this critical initiative is to take the online Pipeline Pledge. You’ll find digital badges to show your support, resources to help with outreach, and tools for employers and educators. Imagine the difference we can make if each member pledges to be a part of the solution to our talent shortage and need for workforce development!

Thank you for taking the pledge and supporting TXCPA with your time and your membership!

Jodi Ann Ray, TXCPA President and CEO

 

Let’s Connect!

Drop me a note at jray@tx.cpa.

 

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

September-October 2024

Flipbook

In This Issue

  • How Accountants Can Leverage Corporate Culture for Success

    High-profile accounting scandals have led to reforms aimed at reducing fraud and corporate misconduct, with regulators emphasizing the need for ethical corporate cultures and strong leadership. Despite its importance, corporate culture is rarely included in accounting and audit standards, leaving CPAs without clear guidance on how to assess or apply it.
    View Article

  • CPE: The Tollgates of Inventory and Financial Control

    A key challenge for management accountants and manufacturing companies is managing operations and the resulting impact on financial statements. Standard procedures, work instructions and shop floor decisions significantly influence the financial performance of inventory-focused companies. Effective monitoring of five tollgates of inventory movement is essential.
    View Article

  • Spotlight on CPAs: Madhuri Bandla, CPA-Dallas, CFE

    Madhuri Bandla is a Senior Lecturer of Accounting at the University of North Texas G. Brint Ryan College of Business. She is dedicated to student success, mentoring and volunteering, aiming to positively impact the university, the accounting profession and the local community. Learn more about her career path and her commitment to teaching, learning and facilitating professional development.
    View Article

  • Top Cybersecurity Tactics for CPAs in the Digital Age

    The article highlights the growing cybersecurity risks facing CPAs and accounting firms as digital transformation reshapes the landscape. As firms adopt advanced technologies like AI and automation to streamline operations, they become prime targets for cybercriminals due to the sensitive data they hold. Ensuring strong security practices is essential for protecting sensitive data.
    View Article

  • Every Member Plays a Part

    Read about an important update from AICPA’s National Pipeline Advisory Group. The group released a report outlining six strategies to address the accounting talent shortage, including enhancing education, supporting CPA Exam candidates and increasing diversity. TXCPA, now in the third year of our CPA Pipeline Strategy, is aligning our efforts with these national initiatives to boost outreach and workforce development.
    View Article

  • TXCPA Annual Meeting - Looking Back and Charting the Path Ahead

    TXCPA’s Annual Meeting and Leadership Council Meeting was held on June 28-29, 2024, at the Omni Frisco Hotel, blending networking, learning and fun. Leaders reviewed the accomplishments of 2023-2024 and set priorities for 2024-2025. TXCPA also emphasized community-building through local chapters, service initiatives and diversity efforts. TXCPA aims to continue addressing CPA pipeline issues, growing the membership, enhancing member benefits, and supporting advocacy initiatives.
    View Article

  • What’s Happening Around Texas - September-October

    Learn about some of the recent events and activities that happened around the state in the TXCPA chapters.
    View Article

  • 2023-2024 Outstanding Chapter Awards

    Each year, Outstanding Chapter Awards are awarded to the small and medium-sized chapters to inspire their continuing work to elevate member service. For 2023-2024, TXCPA San Angelo and TXCPA South Plains received the awards. Read about their impressive accomplishments.
    View Article
    chapter-map-coded-by-size

  • SEC Adopts Climate-Related Disclosures

    The SEC issued final rules in March for climate-related disclosures. Just a month later, the SEC issued a stay even though the rules do not become effective until 2026. With a pending review in the U.S. 8th Circuit Court of Appeals, the SEC stated that the stay’s purpose is to avoid regulatory uncertainty until the court hears the matter.
    View Article

  • Optimizing Consultant Engagement for Business Growth

    Managing a growing company involves balancing daily operations with strategic planning, financial management, marketing and compliance. In smaller firms with fluid roles, it can be hard to focus on all functions equally. Consultants can offer valuable expertise and solutions, helping business owners achieve their goals more effectively.
    View Article

  • The Importance of the CPA Pipeline

    Focus on the CPA pipeline issue has become a key topic in the accounting profession. Various task forces, state societies and legislative bodies are working on addressing the shortage of CPAs, and TXCPA is actively involved in national efforts. TXCPA is also exploring legislative changes in Texas, while ensuring that CPA mobility – allowing CPAs to practice across state lines without additional licensing – is preserved.
    View Article

  • TXCPA Thanks Our Faculty and Student Ambassadors!

    A big thank you goes to TXCPA's 2024-2025 Faculty and Student Ambassadors! Our ambassadors play a vital role in enhancing TXCPA’s presence on Texas campuses, helping us better understand how to support educators and students. Together, we are working to expand the pipeline of future CPAs in Texas.
    View Article

  • Take Note

    In this edition of Take Note: Join TXCPA's Key Persons Program; Occupational Wellness - Tips for a Fulfilling Work Life; November is Month of Service and Accounting Opportunities Month; Submit an Article to Today’s CPA Magazine
    View Article

  • Classifieds

    The classified ad section of Today's CPA offers a dynamic marketplace, featuring listings for practice owners looking to sell, professionals seeking firms to purchase and a variety of specialized services. Whether you're looking to expand, sell or explore niche opportunities, this section connects professionals with valuable business prospects and resources.
    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
Shivam Arora, CPA-Dallas;
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

 

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