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John Sharbaugh

Dallas, TX

Executive Director and CEO of the Texas Society of CPAs

Recent Activity

The Private Company Council (PCC) recently held its third public meeting since being appointed by the Financial Accounting Foundation (FAF) last fall. The PCC was established by FAF to work with FASB to determine whether and when to modify GAAP for private companies. From this latest meeting, they appear to... Continue reading

Posted 6 days ago at The Sharblog

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Last week, the U.S. Senate moved one step closer to approving legislation to help states force online retailers to collect state sales taxes. The legislation, S.743, is called the Marketplace Fairness Act and the Senate voted 63-30 to approve a cloture vote which ends debate on the bill. The Senate... Continue reading

Posted May 1, 2013 at The Sharblog

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Integrity Still the Essential Ingredient

I have had the opportunity over the last month to speak to accounting students in Corpus Christi and Dallas. I was impressed with how bright these young people are who will soon be joining the CPA profession. While intelligence is certainly an advantage to those pursuing careers as CPAs, I... Continue reading

Posted Apr 15, 2013 at The Sharblog

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It has not been a great time of late for the IRS. In case you missed it, the IRS produced some training videos based on several old television series, including Star Trek. When this news got out, as you would suspect, some members of Congress did not think it was... Continue reading

Posted Apr 1, 2013 at The Sharblog

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Snakes on a Plane

I heard that the TSA was liberalizing some of the rules on what you can take on airplanes. Great, I thought. Now maybe I can carry shampoo and toothpaste larger than three ounces onto the plane. Wrong. Instead, the TSA plans to allow knives that are of certain dimensions. Under... Continue reading

Posted Mar 12, 2013 at The Sharblog

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One Size Doesn't Always Fit

I read with interest a recent study done by an economics professor at the University of West Georgia which looked at the effects of “mark-to-market” accounting rules on the Georgia banking community, especially smaller community banks (a copy can be found here). The banking community in Georgia was especially hard... Continue reading

Posted Feb 20, 2013 at The Sharblog

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Just when you think you know what is going on, life has a way of changing. An example is what recently happened to the new IRS program for the regulation of tax return preparers. Recently, the U.S. District Court for the District of Columbia granted a permanent injunction to stop... Continue reading

Posted Feb 5, 2013 at The Sharblog

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The recent release of the movie about the killing of Osama bin Laden (Zero Dark Thirty) appears to have reopened the whole argument about torture and its effectiveness. I raise it not to take a side in that debate. And I haven’t seen the movie yet, but want to try... Continue reading

Posted Jan 17, 2013 at The Sharblog

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Rational Reform

As I write this blog, we are still heading for the infamous “fiscal cliff” and we are just a few days now from the start of a new year. Will Congress and President Obama find a way to reach an agreement before the end of the year? Who knows? I... Continue reading

Posted Dec 26, 2012 at The Sharblog

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The holiday season is normally a time when a lot of movies are released and attendance at theaters goes up as people flock to see the latest Hollywood fare. This year, in addition to the fictional excitement playing at the local movie theater, we have our own real-life drama playing... Continue reading

Posted Nov 27, 2012 at The Sharblog

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A Win for the Little Guys

In my last blog post, I discussed the Private Company Council (PCC) recently created by the Financial Accounting Foundation (FAF) and the hope that it will provide relief to private companies, many of which are small businesses, by allowing appropriate exceptions to GAAP in the preparation of their financial statements.... Continue reading

Posted Nov 14, 2012 at The Sharblog

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Filling the GAAP

In recent months, the Financial Accounting Foundation (FAF) has taken steps that may provide benefit and relief to CPAs who serve private business clients. Only time will tell for sure. A few months ago, FAF (the oversight body for FASB) issued a final report and recommended the establishment of a... Continue reading

Posted Oct 30, 2012 at The Sharblog

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Big Data and the Cloud

I have heard a lot over the past year or more about “Big Data” and “The Cloud.” At first I thought maybe this was a new Clint Eastwood movie – like “Thunderbolt & Lightfoot.” But upon further edification, I found out the terms really relate to computer services delivered over... Continue reading

Posted Oct 17, 2012 at The Sharblog

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Last week, I had the opportunity to attend a session on the campus of UT-Dallas presented by David Walker, CPA, former U.S. Comptroller General and currently CEO of the Comeback America Initiative (CAI). This program was part of the $10 Million a Minute Bus Tour that CAI is now conducting... Continue reading

Posted Oct 2, 2012 at The Sharblog

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Compilation Consternation

If you got busy this summer and missed the fact that AICPA issued proposed changes to the requirements for Compilations and the Independence requirements related to them, fear not; you now have more time to learn about them and provide input if you are so inclined. While the exposure drafts... Continue reading

Posted Sep 11, 2012 at The Sharblog

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Abundance for All

In my last blog, I expressed my concern that the projected future dearth of doctors and nurses was going to both increase costs for health care, as well as make it a challenge for people to get medical treatment. Turns out my concerns may be misguided as I was limiting... Continue reading

Posted Aug 21, 2012 at The Sharblog

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Health Care Hurdles

With last month’s Supreme Court decision on the Patient Protection and Affordable Care Act (ACA), we are underway for the implementation of this new federal program. But I am sure it will continue to be debated as we head to the upcoming elections. One of my big concerns with the... Continue reading

Posted Aug 6, 2012 at The Sharblog

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CPAs as Public Policy Makers

There are around 4,000 state legislators in the U.S. They are the elected representatives who make the important public policy decisions that affect our lives at the state level. Of those 4,000 elected state officials, 64 are certified public accountants (CPAs). In Texas, we have five CPAs serving in our... Continue reading

Posted Jul 23, 2012 at The Sharblog

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Pension Pain and Gain

Last week, the Governmental Accounting Standards Board (GASB) voted to approve new pension accounting and reporting standards. GASB Statements 67 and 68 will revise existing standards for the financial reports of most defined benefit pension plans and establish new financial reporting requirements for most state and local governments that provide... Continue reading

Posted Jul 3, 2012 at The Sharblog

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Knowledge & Power

There is an old saying that “knowledge is power.” But the reverse, “power is knowledge,” is not necessarily true, especially when it comes to technology. In the 1990s, the term “digital divide” was developed to describe the gap between the haves and the have-nots and their access to computers and... Continue reading

Posted Jun 13, 2012 at The Sharblog

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Better Late Than Never

AICPA recently celebrated its 125th anniversary as an organization. At the AICPA Council meeting a few weeks ago in Washington, D.C., a number of presentations focused on the history of the Institute. In addition to the “old” news, AICPA rolled out some new initiatives at the meeting. One of those... Continue reading

Posted May 30, 2012 at The Sharblog

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Money and Mouths

There has been a fair amount of public debate about whether rich people in the U.S. should be paying more in taxes and the lack of progressivity in our current tax system. The issue got lots of attention last year after Warren Buffett, of Berkshire Hathaway fame, made a public... Continue reading

Posted May 14, 2012 at The Sharblog

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There has been significant debate over the past year or more about the current U.S. tax system. Some claim it is not fair and tilts advantage to the rich. Others say it needs to be simplified; loopholes (aka deductions) should be eliminated and the corporate tax rate especially needs to... Continue reading

Posted Apr 25, 2012 at The Sharblog

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I recently had the opportunity to attend a conference where a memory expert spoke. Ron White (no, not the comedian!) was the USA Memory Champion for several years and was amazing in his ability to recall names and numbers. He memorized and remembered the names of about 50 members of... Continue reading

Posted Apr 13, 2012 at The Sharblog

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Rotation Ruckus

Back in August (see my blog of 8/18/11), I wrote about PCAOB issuing a concept release that proposed requiring public companies to change their auditing firms after a certain number of years. I opined then that there did not appear to be sufficient evidence to support such a requirement, nor... Continue reading

Posted Apr 2, 2012 at The Sharblog

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