Texas career schools have ongoing financial-reporting duties after approval. Learn the deadline, reporting options, required statements, and common compliance pitfalls.

Meeting the TWC financial stability requirements is a critical part of applying for approval to operate a Texas career school. For many new schools, the financial submission must show more than simply having cash in the bank: the school must demonstrate positive equity, adequate current assets, sufficient net worth in relation to goodwill, and no past-due liabilities.

Starting a vocational or career school in Texas involves more than developing programs, hiring instructors and securing a facility. Before beginning operations, a school generally must obtain a Certificate of Approval from the Texas Workforce Commission (TWC), unless it qualifies for an exemption. The required TWC career school audit is often one of the most technical parts of the approval process.

Finance teams, nonprofit leaders, and business owners do not need to track every technical update, but they should know which changes may affect upcoming audits, tax planning, reporting, and compliance. Here are a few recent and upcoming effective dates to keep on your radar.

Used responsibly, AI can be a valuable tool. But when AI touches accounting, financial reporting, internal controls, or audit support, it also creates new risks that management should understand. The issue is not whether AI is “good” or “bad.” The issue is whether the organization has the right governance, review, documentation, and controls around how AI is being used. If your company is using AI in accounting or finance, here are seven risk areas to review before your ne

Many small business owners think of bookkeeping as something they need only at tax time. Receipts are gathered, transactions are categorized, reports are printed, and the goal is usually simple: get the tax return filed. But good bookkeeping can do much more than help with tax preparation. But good bookkeeping can do much more than help with tax preparation.