To educate Texas Certified Public Accountants in ethical standards and issues associated with the practice of accounting within the State of Texas.  As part of the education process, this course will:

• aid Texas CPAs in applying ethical judgment when interpreting the various standards and rules applicable to the practice of public accountancy within the State of Texas;
• encourage Texas CPAs to place primary importance in ethical decision-making on public rather than self-interest when evaluating their ethical decisions even at the loss of position or client.

To help Texas CPAs to develop more than a technical understanding of the various applicable Rules of Professional Conduct when involved in the performance of professional accounting services/work.  Within this context, this Course will  review and encourage open discussion of the Rules of Professional Conduct and their implications for persons in a variety of practices, including:

• attest and non-attest services for Texas CPAs in public practice (§ 501.52);
• internal accounting and auditing services for those Texas CPAs in industry;
• education or government service.

• Understand the high-level market forces in Private Equity
• Understand how to position a company to achieve the best valuation in a transaction
• Understand how buyers value an M&A deal
• Understand the process buyers and sellers go through when executing an M&A transaction

• To understand the role of the Private Company Council, its decision-making process and framework
• To understand the private company accounting alternatives that have been approved and adopted by FASB to date
• To understand the Private Company Council projects that are currently in process or under consideration

• Understand the gift tax and estate tax rates and exemptions available.
• Review various planning techniques to reduce or eliminate estate tax at death.
• Identify types of assets includable in calculating estate tax and types of assets that are “outside” of an estate.
• Discuss the additional step to estate planning of preparing heirs to manage an inheritance.

• Identify the largest trading countries with Texas (imports and export).
• Describe transfer pricing and underlying premise.
• Recognize issues that need addressing with regard to international assignments.
• Identify how transfer prices relate to expat employees
• Determine whether an individual qualifies as a US resident or nonresident.
• Address U.S. tax significance of non-US residents.

• Examine Federal tax reform proposals under discussion in the House Ways & Means Committee and the Senate Finance Committee with a view toward future legislation
• Focus on tax “loopholes” under heated debate in Congress and the Administration
• Review recent IRS activities regarding foreign bank account reporting and large cash deposits in domestic banks
• Examine the provisions of the newly enacted Surface Transportation and Veterans Health Care Choice Improvement Act of 2015

• Consider frequent weaknesses in traditional reporting
• Define dashboard
• Discuss the benefits and challenges of dashboards
• Outline key features of effective dashboards and considerations for getting started
• Demonstrate creation of the classic speedometer image in Excel

UNDERSTAND THE IMPACT OF THE NEW UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS

• Effective Dates
• Nonfederal entities’ responsibilities for internal control and evaluation and monitoring of compliance with federal statutes, regulations and terms and conditions of federal awards
• New procurement standards
• Requirements for Pass-Through Entities
• Effect on indirect cost rates
• Changes in audit requirements, major program determination and determination of low risk and other than low risk auditee

DESCRIBE THE KEY CHANGES TO THE OMB CIRCULAR A-133 2015 FINAL COMPLIANCE SUPPLEMENT

• Part 3 Compliance Requirements includes transition guidance in effect for continuing federal awards under A-133 requirements and new federal awards under Uniform Guidance for Federal Awards requirements

• This lecture covers current developments in federal and state employment discrimination law with a focus on potential employer liability for gender stereotyping employee conduct in the workplace and recent case developments in the newly-developing theory "attractiveness discrimination."