MAR APR 2019
CHAIRMAN Stephen Parker, CPA PRESIDENT/CEO Jodi Ann Ray, CAE, CCE, IOM EDITORIAL BOARD CHAIRMAN Aaron Borden, CPA
Staff
MANAGING EDITOR DeLynn Deakins ddeakins@tscpa.net 972-687-8550 800-428-0272, ext. 250 TECHNICAL EDITOR Brinn Serbanic, CPA, CFP® technicaleditor@tscpa.net COLUMN EDITORS Jason B. Freeman, CPA, JD Mano Mahadeva, CPA, MBA Don Carpenter, MSAcc/CPA WEB EDITOR Wayne Hardin whardin@tscpa.net CONTRIBUTORS Melinda Bentley; Sarah Brown; Roxanne LaDu; Rhonda Ledbetter; Craig Nauta; Kim Newlin; Catherine Raffetto; John Sharbaugh, CAE
CONTENTS
COVER STORY 24 Get Ready For Form 8867
FEATURES 22 Capitol Interest The Clock is Running 30 CPAs Acting as Interim CFO: How to Manage the Risk 34 A Look at the Side Effect of Excessive Cellphone Use 38 GASB 77 – Tax Abatement Disclosures 42 Go Beyond Disruption: The Future of Finance 44 CPE Article: Implications of New European Union Rules for U.S. Auditors
DIRECTOR, MARKETING AND COMMUNICATIONS Melinda Bentley, CAE CLASSIFIED DeLynn Deakins Texas Society of CPAs 14651 Dallas Parkway, Suite 700 Dallas, Texas 75254-7408 972-687-8550 ddeakins@tscpa.net.
Editorial Board
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COLUMNS 4 Chairman’s Message Re-Energizing Our Brand 5
Accounting & Auditing Unclaimed Property - Maybe a Little Spring Cleaning is Needed
7
Chapters A Focus on Chapter Presidents in Business & Indutry
15 Member Spotlight Texas Lions Camp: A Magical Place for Children with Special Needs
Arthur Agulnek, CPA-Dallas; Aaron Borden, CPA-Dallas; Don Carpenter, CPA-Central Texas; Melissa Frazier, CPA-Houston; Jason Freeman, CPA-Dallas; Michael Hallick, CPADallas; Baria Jaroudi, CPA-Houston; Brian Johnson, CPA-Fort Worth; Jennifer Johnson, CPA-Dallas; Tony Katz, CPA-San Antonio; Joseph Krupka, CPA-Dallas; Randy Lokey, CPA-Dallas; Mano Mahadeva, CPA-Dallas; Alyssa Martin, CPA-Dallas; Stephanie Morgan, CPA-East Texas; Marshall Pitman, CPA-San Antonio; Kamala Raghavan, CPAHouston; Barbara Scofield, CPA-Permian Basin.
17 TXCPA Branding Launch
Design/Production/Advertising American Business Media www.ambizmedia.com
VOLUME 46, NUMBER 5 MARCH / APRIL 2019
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DEPARTMENTS 18 Take Note 47 TXCPA CPE Course Calendar 50 CPE Quiz
© 2019, Texas Society of CPAs. The opinions expressed herein are those of the authors and are not necessarily those of the Texas Society of CPAs. Today’s CPA (ISSN 00889-4337) is published bimonthly by the Texas Society of Certified Public Accountants; 14651 Dallas Parkway, Suite 700; Dallas, TX 75254-7408. Member subscription rate is $3 per year (included in membership dues); nonmember subscription rate is $28 per year. Single issue rate is $5. Periodical postage paid at Dallas, TX and additional mailing offices. POSTMASTER: Send address changes to: Today’s CPA; 14651 Dallas Parkway, Suite 700; Dallas, TX 75254-7408.
51 Classifieds