September-October 2021
In this issue:
- CPA Evolution Initiative is Bringing an All-New Approach to CPA Licensing
- Proposed Tax Changes – 2021
- The Challenges for a Remote Workforce
- A Primer as XBRL Goes Mainstream
- An Evolving Profession
- While You Were Quarantining
- Annual Meeting of Members and Board of Directors Meeting
- Take Note
- 2020-2021 Outstanding Chapter Awards
- Accounting for de-SPAC Transactions
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CPA Evolution Initiative is Bringing an All-New Approach to CPA Licensing
The CPA Evolution initiative's purpose is to meet the continuing demand for the skills and competencies required by the accounting profession today and into the future. Major changes are underway that are transforming the CPA licensure model. The CPA Evolution initiative is bringing an all-new approach to licensing based on a critical purpose: meet the continuing demand for the skills and competencies required by the accounting profession today and into the future.View Article -
Proposed Tax Changes – 2021
This article highlights some of the more prominent federal tax proposals that are being considered by Congress.View Article
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The Challenges for a Remote Workforce
This article will discuss best practices for vigorous cybersecurity audits by CPA firms and technical firms, with audits such as the SOC 2 or NIST 800-171, respectively, and the best way to preserve attorney-client and/or work-product privilege regarding such audit reports.View Article -
A Primer as XBRL Goes Mainstream
Financial data and disclosure information is reported in a machine-readable format known as eXtensible Business Reporting Language (XBRL). XBRL employs unique terminology. Understanding the vocabulary is key to understanding how XBRL works with the financial reporting framework. AICPA has identified several key terms in the context of XBRL.View Article
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An Evolving Profession
You are part of a vibrant and evolving profession that is rapidly changing. There’s no doubt you see this in your day-to-day work with clients and customers.View Article -
While You Were Quarantining
The Families First Coronavirus Response Act (FFCRA) created a regime of paid leave employees could take for certain COVID-19 related reasons. Not only that, the FFCRA applied to small employers, many of which had little to no experience dealing with paid sick leave.View Article
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Annual Meeting of Members and Board of Directors Meeting
TXCPA members came together to hold the Annual Meeting of Members and Board of Directors Meeting virtually on June 24-25. They asked questions and shared ideas about the issues that were discussed and learned where their organization – and their profession – are headed.View Article -
Take Note
New top-level web domains, such as .cpa, are one way for organizations to modernize their digital store front.View Article -
2020-2021 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.View Article -
Accounting for de-SPAC Transactions
This article explicates some of the accounting issues related to SPAC transaction, and its goal is to elucidate the fundamental concepts of de-SPAC mergers within the framework of Financial Accounting Standards Board (FASB) and SEC guidance.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