Donna's Diary

Life is a Balancing Act

Believe it or not, I spent last week in Telluride, CO snow skiing. I say believe it or not since I’m in public accounting. I skied about six days total in my youth and then never skied again until I was 40 because of the demands of tax season. The last year I was in Houston, I went skiing over Thanksgiving. A couple of years later when I moved back to Austin, I decided tax season or not, I was going skiing. So since 1994, I have not missed a year. We used to go at spring break when our kids were in school, but no one goes skiing at spring break unless they have to or because they love crowds! Lately, we’ve gone in January most years and usually for two weeks. This year, due to all the travel with TSCPA, we decided we’d better only go for a week. 

It was a glorious week – four days of powder skiing and two days of cruising. The only injury I sustained was knocking the $%&*#% out of one of my toes on a table while I was sitting on a couch. So apparently, I can ski eight black runs in a row with no problem, but sitting on the couch is dangerous. Oh well, a little ice and some tape and it was good to go. Black and blue, but good to go.

We all work hard, whether we’re in public accounting or industry, government, education, etc. CPAs tend to be dedicated, hard working folks. But we all need a break and one of my favorite ones is snow skiing. So, I make it happen. Now of course, I’m working double time to make up for it, but it’s worth it to me. I encourage you all, even when you’re busy, to find some time to enjoy the fruits of your labor.

Fall is in the Air (Well, We Can Hope)

We finally got a break in the 100 degree heat – now it’s only in the 90s, but at least that’s something! Fall is also time for many chapter visits. Last Wednesday, I visited the Abilene Chapter and presented a Professional Issues Update.  This is an interesting time in our profession as we work towards separate standards for private company reporting, monitor the progress of the decision on IFRS (convergence, endorsement, condorsement) and try to keep up with the myriad of other pronouncements that come at us every day. And then there are the tax issues. Keeping up with all of this is a daily challenge, and I don’t think I could do it without the help of TSCPA.

My husband, Steve, who works with me, often travels to the chapters with me. Last week, we took Jeff Gregg’s suggestion and ate at the Perini Ranch Steakhouse in Buffalo Gap (or as I’ve heard other CPAs call it Buffalo GAAP – thanks Tracy). Now my husband is a steak and potatoes kind of guy, and I love a good steak myself. We have eaten a lot of steaks around the country, but we both believe this may have been the best steak we’ve ever had. The steakhouse is in a converted barn on property the Perini family owns, and the atmosphere is wonderful. 

The morning before I spoke at lunch, an interview with Terri Polley, CEO of FAF, came out. She is discussing private company accounting standards, IFRS, and changes at FASB and GASB with Accounting Today. You might be interested in what she had to say, watch the video here.