TXCPA Dallas

May 2020 Newsletter

 

In This Issue…

  • Chairman's Message
  • CPE
  • Convergence
  • A Word from Our Sponsors
  • Membership
  • Classifieds
  • TXCPA

Chairman’s Message

By Bill Sims, CPA

So how was that for making lemons into lemonade? Even a viral pandemic can’t stop TXCPA Dallas from providing excellent CPE, and the proof is in Monday’s Convergence 2020 Webcast Event. Despite a few hiccups in the beginning, we’ve heard nothing but glowing comments about the online version of our annual super-conference, Convergence 2020, re-structured in response to the COVID crisis currently sweeping our city, state and nation. More than 700 accounting and financial services professionals logged on for this event that awarded 8.5 hours of quality education in 5 sessions covering accounting, tax, auditing and professional development topics. A big thank you to Tim Pike, the Convergence Committee Vice-Chair, who played a significant role in the conversion of the conference. We also want to thank the outstanding TXCPA staff for their assistance in the creation of this event. And while we are certainly proud of this year’s production, we are already looking ahead to Convergence 2021, bigger, better and – most of all – BACK!

 

If you’re looking for more CPE this month, we have a couple of great options for you. On May 13th, Taylor Franta and Tim Pike of Howard LLP will present Employee Benefit Plan Audits, a course that will focus on the knowledge, tests and considerations specific to these audits. Save the date for May 28th, when you can learn about trending Human Resources topics from Heather Guarnera of HumCap and Marcus Fettinger of Gray Reed. We also have some excellent two-hour courses coming up in June. On June 3, Doug Manhart from BKD will talk about Topics & Trends in Forensic Data Analytics, and on June 17, Steve Austin of Swenson Advisors and Ane Ohm of LeaseCrunch will discuss The New Lease Accounting Standards…Topic 842. You can read more about all of these CPE opportunities elsewhere in the newsletter.

 

Speaking of human resources, we’re happy to announce the opening of the TXCPA Dallas Career Center. Through this page, you can find assistance in either locating or advertising employment opportunities for accountants and financial services practitioners in the Dallas area. We’re very excited about this launch and hope you will be too. Check it out here.

 

This is my last Chairman’s message to you as my term comes to an end on May 31, 2020. I have thoroughly enjoyed working with many wonderful people this year, and I owe a particular debt of gratitude to several of them. I’d like to specifically recognize the talents and commitment of our Executive Director Meg Campbell and the excellent staff she leads for their part in making this a productive year for me and the Chapter as a whole. To TXCPA Dallas Board of Directors, my heartfelt thanks for your dedicated support, your thoughtful input and your expertise as we have stewarded this organization together for the past 12 months. I also would like to express my appreciation to you, the members, for all your support and the privilege of serving your association this last year. We have one of the strongest and most enthusiastic member bases in the state, and it has been a true pleasure to work with you. Even in these times of hardship and uncertainty, we are still blessed beyond what we deserve. We need to remember this even after things get back to normal. I leave you all in the capable hands of Jason Freeman, your incoming Chairman. Jason is well known as a very capable leader, and I am confident that we can all expect another productive year under his guidance.

 

Thank you again, stay safe and healthy, and all the best to each of you.

 

Bill Sims, CPA

Chairman, 2019-20


CPE

Online CPE Event:

Employee Benefit Plan Audits

Wednesday, May 13, 2020

 

 

TXCPA Dallas

invites you to an

Online CPE Event

 

Employee Benefit Plan Audits

 

presented by

 

Tim Pike

Partner, Howard LLP

 

&

 

Taylor Franta

Audit Manager, Howard LLP

 

 

Wednesday, May 13, 2020

1:00 p.m. – 5:00 p.m.

 

THIS IS AN ONLINE EVENT.

 

Course Description: Audits of employee benefit plans are highly specialized, and significant emphasis has been placed in recent years to improve audit quality. This session focuses on the knowledge and tests and considerations specific to these audits. Whether you are an auditor in public accounting or a plan administrator, you will benefit from the updated information on standards, as well as common deficiencies found in plans and how to, report on them for auditors, and how to avoid them for plan administrators.

 

Learning Objectives: Attendees will learn information surrounding benefit plan considerations and best practices.

Level:

Prerequisites:

Course #:

CPE Credit Hours:

Date:

Time:

Format:

Cost:

Intermediate/Technical

None

20541213

4

Wednesday, May 13, 2020

1:00 p.m. – 5:00 p.m.

Live (Internet-based)

$35/Members; $135/Non-Members

 

To register for this event, click here.

SAVE THE DATE!

HR Issues & Employment Law Q&A Webinar

Thursday, May 28, 2020

 

 

Mark your calendars for a May 28th webinar featuring presentations on HR Issues and Employment Law. Speakers from HumCap and Gray Reed will offer their expert insights on trending human resources and employment law topics. Don’t miss this event that is extremely relevant in light of the re-opening of Texas businesses. Registration will open soon, so watch for more details.

Online CPE Event:

Topics & Trends in Forensic Data Analytics

Wednesday, June 3, 2020

 

 

TXCPA Dallas

invites you to an

Online CPE Event

 

Topics & Trends in Forensic Data Analytics

 

presented by

 

Doug Manhart

Director, BKD LLP

 

Wednesday, June 3, 2020

1:00 p.m. – 3:00 p.m.

 

THIS IS AN ONLINE EVENT

 

Course Description: This course presents a high-level view on the kinds of analytics organizations use to detect/prevent fraud and the types of advanced analytics on the horizon.

 

Learning Objectives: After the course, attendees should understand the meaning of data analytics, how they can be used to detect fraud, ways to implement analytics, and what kinds of new innovations they will see in the coming years.

Level:

Prerequisites:

Course #:

CPE Credit Hours:

Date:

Time:

Format:

Cost:

Basic/Technical

None

21540101

2

Wednesday, June 3, 2020

1:00 p.m. – 3:00 p.m.

Live (Internet-based)

$35/Members; $135/Non-Members

To register for this course, click here.
Online CPE Course:

The New Lease Accounting Standards…Topic 842

Wednesday, June 17, 2020

 

 

TXCPA Dallas

invites you to an

Online CPE Event

 

The New Lease Accounting Standards…Topic 842

 

presented by

 

Stephen G. Austin

Managing Partner, Swenson Advisors

 

&

 

Ane Ohm

Co-Founder & CEO, LeaseCrunch

 

 

Wednesday, June 17, 2020

1:00 p.m. – 3:00 p.m.

 

THIS IS AN ONLINE EVENT.

 

Course Description: This session will cover:

·     Understanding the new lease accounting standards…Topic 842.

·     How to approach the topic. Key project management lessons learned.

·     How to handle challenges with lease document discovery and finding embedded leases.

·     Organizing to address pre-implementation elections and post-implementation lessons.

·     How to audit the results of the new standards.

·     How have recent FASB delays impacted Topic 842 implementation.

·     What are the effects of lease concessions?

·     Review of recent FASB Q&A.

·     Overview of a popular lease accounting software.

 

 

Learning Objectives: After the course, attendees should:

·     Have an overview of the lease accounting framework.

·     Know how to address the practical expedients.

·     Understand the differences between Topic 840 and Topic 842.

·     Be able to apply strategies to uncover embedded leases.

·     Know how to train and organize your team to handle these large projects.

·     Know how to address new internal controls at transition and after transition.

·     Know how to address process changes for supply chain and finance and accounting.

·     Know how to identify audit risks with renewal options and discount rates.

·     Know how to gather the information to flow into expanded footnote disclosures.

·     Know how to test for completeness on the balance sheet.

Level:

Prerequisites:

Course #:

CPE Credit Hours:

Date:

Time:

Format:

Cost:

Basic/Technical

None

21540102

2

Wednesday, June 17, 2020

1:00 p.m. – 3:00 p.m.

Live (Internet-based)

$35/Members; $135/Non-Members

To register for this event, click here.
Ethics Course – LIVE!!!

Wednesday, June 17, 2020

Note: The May 20 Ethics course has been cancelled.

 

TXCPA Dallas is pleased to offer the required, State-approved, 4-hour Ethics course.

 

Location:

TXCPA Dallas Office

12400 Coit Road, Suite 750

Dallas TX 75251

 

This course is taught by Dr. Richard Mark.

 

Description: The course examines all of the various components of ethical issues essential to any CPA’s practice in the State of Texas. A main objective of the course is to work with CPAs to identify and reach satisfactory conclusions about ethical issues in all phases of public, corporate and governmental practice. To accomplish this objective, the course examines ethical principles and concepts, ethical reasoning, corporate governance and fraud, the impact of culture and human behavior on ethical conduct and applicable current Texas Rules of Professional Conduct through an interactive class environment.

 

Objective: To gain a better understanding of how a CPA’s ethical standards impact daily decision-making in practice and business.

 

Course No.

21600114 – Wednesday, June 17, 2020, 8:00 a.m. – 12:00 p.m.

Level:

Prerequisite:

Format:

Credit Hours:

Sponsor No.:

Cost:

Basic/Ethics

None

Classroom

4

441

$120 (Member); $150 (Non-Member)

To register for this course, please click here.

Convergence 2021

Thank You to Our Sponsors

 

TXCPA Dallas welcomes these great organizations that have already committed their sponsorship support for Convergence 2021.

 


A WORD FROM OUR SPONSORS

Sage

 

Sage is offering important coronavirus information updates. Click here.

 

Click here to view a talk between Ed Kless and Garrett Wagner about the impacts of COVID-19 on themselves and their clients, new skills that are needed for professionals, and the innovation mindset.

 

Click here for a video of the Shaynaco LLC founder Shayna Chapman talking about adapting and the importance of healing leadership during these difficult times.

 

Sage provides more information in these blogposts:


MEMBERSHIP

Welcome, New Members!

Joseph Abesamis, CPA

Joshua Anil Abraham, Student

Jordan Alexander, CPA

Howard I. Altshuler, CPA

Esther Arma, CPA

Kevin Jesse Baggett, CPA

Ethan Samuel Barath, CPA

Kenneth Bass, CPA

Kelci Kathryn Baumann, CPA

Michael Christopher Bianez, CPA Christina Nicole Bowie, CPA

William Cole Bridgman, CPA

Brooke Allison Calhoun, CPA

Daniel Cancelmi, CPA

Stephen Mark Cardwell, CPA

Katrina Nicolle Chaney-Roberts, CPA Braden Leonard Chausse, CPA

Irene Chen, Student

Rajesh Basant Chouhan, CPA Kameron Colton Couts, CPA

Nathan Stone Dalley, Student

Melody Jan Davis, CPA

Ian Austin Delaney, CPA

Jamie L Dewispelare, CPA

Chinenye Nneamaka Dike, CPA Kevin Ensminger, CPA

Hanning Feng, CPA

Christian Alexis Fernandez, Student Dustin Courtney Frank, CPA

Bart Fuentes, Student

Madeline Donna Gary, CPA

Justin Godinez, Student

Alyssa Anne Heselton, CPA Stephanie Lou Hinze, CPA

Keshianna Keyon Hodges, CPA Lauren Alexander Hogan, CPA Krystal Anne Houle, CPA

Gina Huang, Student

Chad Rex Hugie, CPA

Havrest Ibrahim Hurori, CPA

Rosio Ibarra-Monarrez, Candidate Nicholas Patrick Jo, Student Elizabeth Loyce Johnson, CPA Jonathan Anthony Allan Jones, CPA Beena Kamran, Student

Karla M. Kelton, CPA

Gulzar Khowaja, CPA

Leslie Michelle Kiernan, CPA

Logann Emily King, CPA

Eric Paul Knous, CPA

Michael Kocher, CPA

Amanda Caroline Krueger, CPA

Jeru Lee, CPA

Xiang Li, CPA

Zi Liu, CPA

Pradeep Lohani, Student

April Renee Looney, Student

Axel Makoto Lundgren, CPA

Joshua Martin, Student

Jilese Martinez, Candidate

Cherelle Denise Mattox, CPA

Kelsey Vonhatten Mcdonnough, CPA Drew Joseph Mcloughlin, CPA Madison Lynn Newman, CPA

Kaitlyn Ashton Newton, CPA

Cynthia Nguyen, CPA

Adam Juraj Okolicany, CPA

Randy Patino, Affiliate

Jermaine Zhi Xuan Phua, Student Andrew Alexandre Rapson, CPA Courtney Reese, CPA

Mohammad Rezapour, CPA

Maria Elena Sanchez-Cavazos, CPA Lisa Smiley, CPA

Lauren Michelle Smith, CPA

Cassie Bond Smith, Student

Perry Donal Snavely, III, Student

April Denice Stange, CPA

Ronny Susanto, CPA

Bryan Thomas, CPA

Peyton Robert Thomas, CPA

Quan Tran, CPA

Tuyen Chauminh Tran, CPA

Johnny Truong, Student

Jo Anna Waite, CPA

Lu Wang, CPA

Dustin Tyler Warren, CPA

Ebonee Washington, Student

Jennifer Ruth Waters, CPA

Chad Daniel West, Affiliate

Sawyer Austin White, CPA

Josh Whitworth, CPA

Amira Nawal Williams, Student Reese Kohn Wood, CPA

Viktoria Nicole Wooten, CPA

Seren Yokomizo, CPA

Allyson Kathleen Zabaleta, CPA

Brett Zandevakili, CPA

Lu Zhang, CPA

Wenru Zhang, Student


TXCPA Dallas

Scholarship Winner Spotlight

 

Each month, we will spotlight one of this year’s TXCPA Dallas Scholarship winners. Join us this month in getting to know University of Texas at Dallas (UTD) graduate accounting student David Volosen and welcoming him to TXCPA Dallas. 

 

If it hadn’t been for a conversation with a friend’s mother, David Volosen may have ended up a Mad Man. For the year leading up to this conversation, he had dreaded the thought of even considering a college major. When he was asked by his academic advisor in his senior year what field he wanted to major in, he panicked and said Marketing, largely based on the couple of episodes he had watched of the television series Mad Men. He eventually realized he probably was not cut out to be the next Don Draper, and it was about this time that a chat with the mother of a friend, herself a tax accountant, took place. She told David about all the career benefits of being an accountant, how she enjoyed the opportunity to help companies succeed in an ever-changing world, and how she was always learning, even though she had graduated from college a decade earlier. All of these elements convinced David to abandon his hasty choice of a Marketing major and embrace the pursuit of a career in Accounting.

 

David was born in Romania, one of 13 children, and immigrated with his family to the U.S. in 2000. As one might expect, one of the challenges involved in having such a large family is the need for financial resourcefulness. In response, he has paid the balance, after scholarships, of his undergraduate education on his own, working 70+ hours a week in the summers between school years.

 

David received the Comet Transfer and Phi Theta Kappa scholarships. He was a member of UTD’s prestigious Professional Program in Accounting and participated in the group’s 2018 Case Competition. He has also held membership in UTD’s chapter of Beta Alpha Psi and the Phi Theta Kappa Honor Society. He received his Bachelors degree in Accounting in May of last year and will graduate with an M.S. in Accounting this month.

 

David served as an audit intern at Crowe LLP and will join the firm as a full-time auditor in October of 2020.

 

TXCPA Dallas welcomes and congratulates David Volosen. 


TXCPA Dallas Scholarship

Honoring Philip Vogel

 

It’s that time again! Time to award TXCPA Dallas Scholarships to worthy North Texas college seniors and graduate students. If you are, or know of, a senior or graduate accounting student from Southern Methodist University, Texas A&M-Commerce, the University of North Texas or the University of Texas at Dallas who deserves to be recognized as a TXCPA Dallas Scholar, contact Melanie Birkett at mbirkett@cpadallas.org, or click here for an application. Entry forms must be received by 4:00 p.m. on June 5, 2020.

CLASSIFIEDS

Practices For Sale
Practices For Sale in North Texas: gross revenues shown: SE Texas CPA $710; Texarkana EA $288K;Tyler/Longview Area CPA $787K; Abilene CPA $367K; Hurst CPA $364K; E/SE CPA $290K; NE Texas CPA $209K; Burleson CPA $270K; Turtle Creek/Uptown Dallas Area CPA $614K. For additional listings/information, call us at 1-800-397-0249 or visit us online at www.APS.net and register for free email updates.

 

THINKING OF SELLING? Accounting Practice Sales is located in North Texas and is the leading marketer of accounting and tax practices here and nationwide. We have a large buyer pool as well as the experience to help you find the right fit for your firm and negotiate the best price and terms. To find out more about our risk-free and confidential services, call Ryan Pannell with The Holmes Group at 1-800-397-0249 or send an email to Ryan@APS.net.


TXCPA

TXCPA Chapter Tip Sheet
YOUR RESOURCE FOR BUSINESS-FOCUSED COVID-19 INFORMATION

 

We’re here for you. You can turn to TXCPA for the information you need to manage COVID-19 business issues.

·     Get the latest details about legislation, regulations and more at the special page in our website.

·     Register for relevant CPE webcasts, many of which are free for members.

·     Share ideas and resources with other TXCPA members exclusively through the Exchange.

 

 

MEMBERSHIP RENEWAL

 

Your TXCPA renewal statement for 2020-2021 is now available in your member profile. We’re eager to answer any questions you might have about maintaining your member benefits.

 

Please let us know how we can help you. Reach out to our member services team at membership@tscpa.net.

 

Thank you for trusting TXCPA as a resource and for your continued commitment to your profession.