FICPA Conversations

FICPA Conversations: Alex Welsh on the Young CPA Committee and Our Day of Service

133345 — Wed, 11 May 2022 19:01:07 +0000

FICPA Conversations: Alex Welsh on the Young CPA Committee and Our Day of Service 133345 Wed, 05/11/2022 - 15:01

May 12, 2022

In the latest edition of FICPA Conversations, we’re excited to welcome the incoming Chair of our Young CPAs Committee, Alex Welsh!

A graduate of Florida State University, Alex works as a Manager at A-LIGN, where she oversees information security and internal audit engagement. She is also a member of the Women to Watch Awards committee and a past participant of our Emerging Leaders program.

In this Q&A, we discuss the committee’s upcoming CPA Day of Service on Saturday, May 21, and the important role Young CPAs play within the FICPA and the profession at large.

How did you get started in volunteer leadership with the FICPA and what’s experience been like for you so far?

The CEO of A-LIGN, Scott Price, is a past FICPA Chair, and he first encouraged me to get involved with Emerging Leaders.

Oddly enough, I started with the Young CPAs Committee right at the beginning of the pandemic. It was an uncertain time, and the virtual interaction really gave you something to look forward to. I’m proud of the way we were able to create a productive and rewarding experience despite the obvious challenges. A lot of the new members who joined during that time are still with the committee, so I think that shows we handled it well. And now that experience is evolving. We’ve gone from having a lot of phone calls and trading emails to doing more and more activities and events in person. It’s been nice to meet everyone finally.

I’m glad that I had that time – during COVID – to make the FICPA a priority, because now I can say that it won’t stop being a priority.

Speaking of in-person events, our CPA Day of Service – organized by the Young CPAs Committee – is coming up soon on Saturday, May 21. Can you tell us about your past involvement with the Day of Service and why you’d encourage other FICPA members to get involved and give back?

The Day of Service gives CPAs the chance to give back to their local community, with service projects being organized across the state. You can either join an existing project or start one of your own!

Last year, I was a part of the team in Fort Lauderdale, assisting Project Downtown, and we’ll be partnering with them once again this year. We'll be working directly with the homeless community to make a difference in their day. This is a vulnerable group of people who were hit especially hard the last couple years. Being able to make even a small impact can mean a lot.

I’d encourage anyone on the fence about volunteering to review the list of projects below. This is a great opportunity to connect with other local CPAs and make a difference in your community. Once you get involved, you’ll keep coming back year after year, and maybe week after week. Volunteer work is something that can be a part of your life, and this can be the first step in getting started:

Habitat Hillsborough: Construction Site, Tampa
Habitat Hillsborough: ReStore Thrift Store, Tampa
UCP: Unlocking Children's Potentials Charter Schools, Orlando
Project Downtown, Fort Lauderdale (Donate)
Salvation Army, Fort Lauderdale (Donate)
Cape Coral Animal Shelter, Fort Myers
Alachua Habitat for Humanity, Gainesville
Keep Pensacola Beautiful, Pensacola
Second Harvest of the Big Bend, Tallahassee

As you’ve now progressed from being a member to Vice Chair and Chair, what in your mind makes the Young CPAs Committee so special and what kind of role can it play in a member’s FICPA journey?

The Young CPAs Committee has my heart because it’s gives you a start. When you’re early in your career, it can be hard to know who to talk to or how to get involved or what you want your career look like. This committee gives you a foot in the door and opens up a world of opportunities. It also advances your personal and professional skills. I’ve found that I’ve excelled at work as a result of the experiences I’ve had being a part of the Young CPAs. Taking advantage of leadership opportunities, navigating speaking engagements, and being creative outside of work have all helped me at work.

And long-term, today’s Young CPAs are tomorrow’s leaders of the profession. You have to practice leadership at different levels, and that’s what the Young CPA Committee offers – that chance to practice, get feedback, learn from it and then succeed.

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FICPA Conversations

Young CPAs

CPA Day of Service

FICPA Conversations: Stuart Rohatiner on importance of financial literacy

133345 — Mon, 11 Apr 2022 12:00:14 +0000

FICPA Conversations: Stuart Rohatiner on importance of financial literacy 133345 Mon, 04/11/2022 - 08:00

April 11, 2022

In March, the Florida Legislature passed and Gov. Ron DeSantis signed into the law the Dorothy L. Hukill Financial Literacy Act.

Named in honor of the late Florida lawmaker, the law requires all students, starting with those who begin high school in 2023-24, to take a half-credit financial literacy class before graduating.

The FICPA has long supported the addition of financial literacy to the state’s high school curriculum and was pleased to see Sen. Hukill’s efforts come to fruition.

In honor of Financial Literacy Month, we present this latest edition of FICPA Conversations with one of our leading champions for financial literacy: Stuart Rohatiner.

A longtime FICPA member and a partner at Gerson, Preston, Klein, Lips, Eisenberg & Gelber, P.A. in Miami, Rohatiner is also a financial counselor at the Overtown Youth Center, which provides an array of services and opportunities to at-risk youth in South Florida.

We talked to Stuart about his passion for financial literacy and why early education in this space is so vital for future success.

How did you get started dedicating your time financial literacy efforts and why has it become such a passion for you?

It started when I began doing community service work. We had a firm coordinator who was looking for volunteers to assist in some of the under-resourced schools in the area, and I really enjoyed teaching the kids. It was actually my younger daughter who suggested that I speak on financial literacy. Because I could speak about anything, right? I could tell you about accounting or this particular kind of economics, but I wanted something that would actually resonate with kids in a practical sense, that they would see as valuable.

Younger people will think about saving up for an expensive pair of shoes or maybe a dress, but no one was teaching them about specific savings instruments or what else they can do with part-time earnings even from an early age. There was a void.

Pretty soon, I was able to put together small groups of presenters – myself, a professional athlete, a sports agent, an account representative from a financial institution – and we would go over investments, checking accounts, the cost of college. The kids were mesmerized. Their faces would light up. We’re talking about consumer finance, but we would have their full attention for 90 minutes. I knew I was on to something.

Given your experience in this space, what would an effective financial literacy curriculum look like in your mind? What should young adults know by the time they’re graduating high school?

I certainly have a few ideas, and I’ve had some preliminary conversations with the Miami-Dade school system.

At a high level, students should understand their finances are something they have to take personal responsibility for. To do that, they need a working vocabulary early on, so they can understand how basic finance impacts their daily life. I personally like what we do as a group in the classes I’ve put together, because we come at this topic from multiple angles and try to inspire our students. I want this course to be inspirational.

But at a basic level, they need the foundational tools and concepts. They need to know that you can’t spend more than you make, and that you need to set money aside for taxes. They’ll need to know: How do you put together a business plan if you’re looking to become an entrepreneur? What’s a checking account? What’s a savings account? How does the stock market work? How do you get a mortgage? How can you go about securing a student loan or other financial aid for college? Should I pick one school over another for financial reasons? What kind of debt is good? What kind of debt is bad? How do credit cards work? What is a credit score?

These are questions that even a lot of adults can’t quite answer, because they were never given a financial foundation, and these dynamics play a massive role in your life.

And that’s why it’s important to get this knowledge to people as early as possible, right? Because they’re about to start making decisions that will have impacts, good and bad, well into the future.

That’s exactly right. One of the things I talk about is that when you’re a young family just starting out, there are a lot of stressors. You might be early in your life. You might not be making a lot of money just yet. You might have a kid or two. But the more you know about saving, the more you’ll be able to plan and work toward something, even if it’s on a tight budget. You can come up with common goals with your spouse. It’s never easy, but it can be a little bit easier to manage through times.

The more you know, and the earlier you know it, the more empowered you’ll be.

Think about compound interest, just as one example. Having 10 extra years of savings in a 401k or an IRA can make an incredible difference, even if it’s not a lot of money at the start. These are things you don’t yet think about as a teenager. Even in your 20s, as you’re starting to make money and maybe have discretionary income for the first time, you want to enjoy yourself. And there’s nothing wrong with that – if you balance it appropriately. We’re emotional beings, and it can be hard to be disciplined. That’s why it’s important to form good habits and to save consistent amounts on a consistent basis, even if they’re small.

On some level, I think everyone looks back and thinks, “Had I known this then, or had I done this earlier.” That’s what an education in financial literacy can really accomplish. It can teach you about opportunity cost. It can offer you a little bit of foresight, so you don’t have to look back as much in hindsight.

Beyond financial literacy being a public good, how can sharing this information and being an active participant in the educational process pay dividends for the CPA profession?

That’s a great question. The CPA profession is always looking for bright young talent. We want students to study accounting, strive to be CPAs and join the profession. Financial literacy programs give CPAs and other financial professionals an opportunity to be visible leaders in the community. We’re engaging with young people, providing a public service, and showing them a potential path for their own career. That’s the inspirational component.

And now, more than ever, there’s a lot of different opportunities and areas of practice for CPAs. We’re now having conversations about technology, cryptocurrency and even cannabis. Ours is not a profession to look past, and it’s not the same for everyone. Yes, there are opportunities to get out of school and immediately land a job with one of the Big 4; but for other students and recent graduates, life at a small or mid-size firm – where you can become a trusted advisor for individuals and small businesses in your own community – might resonate in a different way with a different kind of student that we haven’t attracted in the past. Embracing financial literacy can prove a valuable way to open up our profession.

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FICPA Conversations

FICPA Conversations: Cuban-American leaders Hector Aguililla, Tony Argiz, Ed Duarte and Jose Valiente

133345 — Fri, 03 Dec 2021 16:37:42 +0000

FICPA Conversations: Cuban-American leaders Hector Aguililla, Tony Argiz, Ed Duarte and Jose Valiente 133345 Fri, 12/03/2021 - 11:37

December 6, 2021

The FICPA was proud to celebrate Hispanic Heritage Month earlier this fall, honoring the achievements of so many Hispanic American CPAs in Florida.

For the latest installment in our FICPA Conversations series, we turned to four of our CPA leaders whose families fled Cuba in search of a better life in the United States.

Hector Aguililla is a director at Berkowitz Pollack Brant and a member of the FICPA’s Board of Directors; Tony Argiz is the South Florida Managing Partner at BDO USA and past Chair of the Florida Board of Accountancy; Ed Duarte is the CFO of Foreign Parts Distributors and a member of the FICPA Council; and Jose Valiente is a retired partner CliftonLarsonAllen and a past President of the FICPA.

They were kind enough to share their time and stories of struggle, hope and inspiration, as they worked to assimilate, strive and succeed in their adopted home.

Tell us how and when you first came to the United States.

Aguililla: I came to the United States from Cuba when I was 10 years old, during the Cold War in the 1980s. My father was a Cuban diplomat for the Middle East and my mother worked with him. At the time, tensions were high between the U.S. and the Soviet Union. My father and mother would work 10 months out of every year in the Middle East and would only be in Cuba during the summer. The Cuban government would not allow parents to take their children out of the country after they were of school age – for fear they would defect. When I was 10 years old, my parents were tired of living without me, so they requested special permission to take me with them. The government relented and allowed me to go. My parents took this opportunity and defected to the U.S. while en route to the Middle East. The CIA was happy to accept my father’s defection, as this brought much-needed intelligence to the U.S. during the Cold War.

When we arrived, the U.S. government gave my father a job in their international relations think tank in Washington D.C. I did not speak English when I arrived, and I was the only Spanish speaker in my first school. Although it was a tough first year, it was ultimately a great learning experience, as I was able to learn the language and the customs at a very fast rate.

Argiz: I came to the U.S. from Cuba when I was 9 years old through Operation Pedro Pan, an exodus of 14,000 unaccompanied Cuban children to the United States.

Although the U.S. was welcoming, it was still hard to assimilate. I did not speak English when I arrived, and I had been brought up in a completely different culture. The hardest part was that I had no idea if I would ever see my parents again, and I was too young to fully grasp why I was being sent away. That was a sacrifice they made to give me the opportunity to live the American dream. Luckily, I was reunited with my parents five years later.

I think of Cuba every day. It is the country where I was born and the country where my grandparents are buried. The culture and people have shaped my life, and I would never want to forget my roots. However, the U.S. is my home now, and I feel extremely proud and honored to be an American. The country took me in while I was still a young child and gave me hope and opportunity. I will always be deeply indebted to the charity and kindness so many Americans showed me during my earliest years in the United States, which is why I now prioritize giving back to my community as a small way to show my gratitude.

Duarte: I was born in New York to Cuban parents who emigrated from Cuba during the late 1960s. My father and some of his siblings worked in the sugarcane fields for nearly 12 months to secure their departure from Cuba, as the Castro Administration would start to build the strength of their communist revolution. Simultaneously, in the eastern part of Cuba, my mother, along with my grandparents and uncles, would leave the island.

My parents met in New York in 1970 and would marry and raise three boys, before moving to Miami in 1978. During our time in New York, my father would work two jobs to support our family. New York embraced hard-working Cubans, and it was through my father’s work ethic and sacrifice that our family would be provided the opportunity to live the American Dream. I would eventually return to New York City in 1998 to start my career in public accounting. I then started my very own family in the city where it all began for us.

Valiente: On Oct. 5, 1962, my father and I arrived in the United States as totally penniless, human refugees. This great country welcomed us with open arms and extended to us every opportunity to enjoy the American dream.

We had applied to leave Cuba as a family unit – together. But when the notices came to leave, they only came for my father and me. My parents had to decide whether to wait and try to leave together as a family, or whether my father and I should leave first. Because I was almost 12 years old, I was – believe it or not – close to military age, and my parents didn’t want to take a chance.

So, my father and I arrived in Miami on Oct. 5, and at the end of that month was the Cuban Missile Crisis. Afterward, Castro decided there would be no more flights out. I did not see my mother and sister until we were finally reunited in Tampa – three years later. That was our story, and there are so many like that of people who struggled to leave.

What were those early years in the U.S. like, and how did being a young Hispanic immigrant inform your sense of purpose in life?

Aguililla: During my early years in the U.S., we moved often – partly for security reasons and partly in search of better opportunities. I was usually in schools with zero or very few Spanish-speaking students. I became an expert at being the new kid in the school. Those experiences have served me well in life, as it’s now very easy for me to make friends and develop relationships with clients. I found there is a universal language that everyone understands, one of kindness, friendliness, humility, love. I learned that although a few students had certain biases, a great majority of students were curious about my culture and very helpful in teaching about theirs.

I was helped tremendously by my friends, my teachers and my neighbors; it truly takes a village to raise a child. This instilled in me a sense of giving back, to make sure I would always help those in need, just as I was helped in those tough early years in a new country, in a new culture, and with no extended family.

Argiz: When I arrived in the U.S., I was alone and became a ward of the Catholic Church in Tampa, under the leadership of Monsignor Walsh. They housed, clothed, fed and educated me for five years. Without the support of the church, my path in life would have been completely different. Still, it was an extremely difficult adjustment. It took a long time to learn the language and adapt to a new culture, food and way of life.

I learned how to be self-reliant, since I could not just go home and ask Mom or Dad for a couple of dollars. If I wanted cash, I had to go out and get summer jobs, whether it was cutting someone's lawn, cleaning the plastic pools at Montgomery Ward in Tampa, or working as a busboy.

Duarte: I remember living in a one-bedroom apartment in Freeport, New York. Although I was born in the U.S., I learned the English language through my interaction with my teachers, friends and family. With three young boys to support, my parents never had the opportunity to obtain their education. At home, the Cuban culture was in full force. Language, food, art and respect were key ingredients in the Duarte household. I learned the value of hard work and the appreciation that an education would provide increased opportunities for my family and me.

When we moved to Miami, we lived in a two-bedroom duplex, where my two brothers and I shared a room. I have incredible memories of love, unity and humility. Education was a must in our household. My father would always use his experience as an example and motivation, telling us we could accomplish anything we wanted if we took advantage of the opportunity and education system in the U.S. – something his family and many others still don’t have in Cuba. One lesson I learned was that with sacrifice comes reward. I would witness my father’s work ethic and business acumen, as he managed a landscaping business during the day and worked as a custodian at night, supporting our family and ultimately leading to the purchase of our first home. As busy as he was, he never hesitated to help a family member or friend in need. He would give his last dollar, some food and the shirt off his back to help someone else. From this kindness, I would learn to enjoy giving back to my community and those in need.

Valiente: When my father and I arrived, I didn’t know any English – none whatsoever. And back then, there wasn’t any bilingual literature and there weren’t bilingual teachers. You either learned English or sank. I learned a lot of my English on the playground, playing baseball, hanging around with other kids and trying to understand what they were saying.

Our first home in Tampa was in the housing projects of Ybor City. As poor as we were back then, getting a good education wasn’t a choice – it was a requirement. There was a famous saying that I’m sure just about every Cuban parent told their kids: “They can take away your possessions, but they can never take away your education.” Education was of paramount importance to Cuban families.

Years later, I found out that our neighbors, a couple who had no children, were able to get me a scholarship to go to a Catholic school. From there, I went on to Hillsborough High School and to the University of South Florida (USF). We were fortunate to have USF in our backyard. I knew from Day 1 that I wanted to be an accountant. And seven years later, my sister went on to graduate from USF herself – as an industrial engineer. My parents were invested in our education.

How have you seen the Hispanic American community in Florida evolve?

Aguililla: During my career, it has been an honor to be a part of various Hispanic American business organizations in South Florida. When they were established, their purpose was to help Hispanics to conduct business in a country not of their birth. These organizations have thrived and helped countless Hispanic American families live the American dream. Today in Florida, we have numerous Hispanic American professionals leading our largest industries as managing partners of public accounting firms, CEOs of public companies, presidents of banks, business owners, educators and more.

The Hispanic American community in Florida is an integral part of our great state. My dream is to see a free Cuba, where CPAs can help establish a financial system to support a democracy with a free economy. My heart aches when I see what is happening now in Cuba, where the government oppresses its citizens. I dream of a future Cuba with a free economy and a return of CPAs to Cuba.

Argiz: Many Cubans came to the U.S. in the 1960s and needed to build capital to support their families and start their businesses. Now, many of us are in a position to become philanthropists and give back to our communities, whether financially or through various volunteer efforts.

Duarte: I have been fortunate to be surrounded by many Hispanic leaders in our community, especially those who created the legacy in our profession for us to follow. I had the opportunity to lead the Cuban American CPA Association and Foundation and to work closely with other organizations. The Hispanic American community is a staple of South Florida. With rapid changes in technology and continuing growth in our state, Florida is positioned to be one of the great states in the U.S. As a Cuban American, it saddens me to see the oppression in Cuba today. I pray that the citizens of Cuba can one day experience the opportunities we have here in America.

Valiente: When I arrived, the overwhelming majority of immigrants in South Florida were Cubans. But then, over time, we started getting more people from South America, Central America, Mexico and Puerto Rico. People like to call it a “melting pot,” but there’s a better term for it. In a melting pot, the ingredients lose their identity – they melt. I like to call it a paella. There are many great ingredients that give taste to the main dish, but we don't lose our identity. And as the Hispanic community has evolved, we’ve advanced into positions of leadership.

What kind of legacy do you hope to leave behind for younger Hispanic Americans who look to follow in your footsteps?

Aguililla: I hope to leave behind a legacy honoring those who came before us, who paved the way for our success; a legacy of passing on our values and our culture to the next generation; a legacy of being thankful to a country that took us in and provided everything we ever dreamed of and lacked in our countries of birth; a legacy of helping those in need and giving back to our community and our neighbors.

Argiz: Helping others is characteristic of Hispanic cultures and families. I believe the best way to honor our Hispanic heritage is to pay it forward – not just through financial donations but by volunteering time, expertise and mentorship. That is what I was taught to do, what I am teaching my children and grandchildren to do, and what I hope to see from future Hispanic generations and leaders. I hope to leave behind a legacy of giving back.

Duarte: I learned through my journey that helping others is a key benchmark to a rewarding life. I give back my time to our community and various organizations. I have taught my children the importance of enjoying the journey, no matter how difficult the road or how many obstacles they encounter. I would like to see our legacy carry into the next generation of Hispanic American leaders, as we honor those who came before us and the current leaders of today.

Valiente: Whenever I speak to groups of young people, I try to leave them with three main pieces of advice. First, always do the right thing. Never compromise your integrity for anything for anyone. Second, do not be afraid to fail. Winners are never afraid to fail. And when you do fail – as most people do – take the opportunity to learn from it and to overcome adversity. Finally, I like to reference a book called “212: The Extra Degree.” The idea is that at 211 degrees, water is just hot; but at 212 degrees, it boils. It’s all about that one extra degree of effort and tenacity that separates the great from the average.

Topics

FICPA Conversations

FICPA Conversations: Marianela Collado's journey from teenage bookkeeper to CPA and CEO

133345 — Wed, 06 Oct 2021 12:35:14 +0000

FICPA Conversations: Marianela Collado's journey from teenage bookkeeper to CPA and CEO 133345 Wed, 10/06/2021 - 08:35

October 6, 2021

Our FICPA Conversations series returns as we celebrate Hispanic Heritage Month!

For this conversation, we’re joined by the CEO of Tobias Financial Advisors: Marianela Collado.

Marianela has been a member of the FICPA since she moved to South Florida in 2013 when she quickly joined our Women’s Leadership Committee.

Now a member of our Task Force on Diversity & Inclusion, she hopes to use her personal experience to inspire students to pursue a career as a CPA.

Tell us about your family’s story and your path to becoming a CPA.

I was born and raised in Queens, New York. My parents came to the U.S. from the Dominican Republic and were hard-working immigrants. They didn’t stress the importance of education, but they knew you had to work hard and make smart choices with your money to be successful. I loved school so much that I originally wanted to be a teacher. Being the youngest of four children, with three older brothers, I grew up having to prove that I could do what my brothers did – and more. I was allowed to go to high school under the condition that I go to the same vocational school as my older brother. As upset as I was, I discovered the school had an accounting and secretarial track, which I much preferred to plumbing and electrical. I graduated with an amazing accounting foundation.

It wasn't until I found myself in college, on the education track, that I realized something was missing. I thought back to a conversation I once had with a friend in high school accounting. He said he was going to college to study accounting and become a CPA. I remember asking, "What is a CPA?" And he answered in such a way that it made it seem like a superpower! "A Certified Public Accountant," he replied. "It's the highest credential in the accounting field." That stuck with me, and it wasn't long before I changed my major to accounting.

I quickly became my parents' go-to person for finances, from helping them pay their bills to handle their taxes. I remember thinking, "God, this is so wrong." It was such a challenge for them, and I knew that I never wanted to be in that position. I was determined to be the first in my family to go to college and graduate, and I was. I put myself through school because I never thought it should have been my parents' responsibility to cover my college education. I thought, "How dare I ask them? I need to figure it out." I mapped out all four years – what it would cost me and how much I needed to work. I ended up working practically full time while going to school full time.

I had already started working as a bookkeeper for a construction company in Manhattan. It was the 1990s, and their books were actual books – these big ledgers. There I was, a high school kid, and I'm converting all their ledgers into QuickBooks. I set up their entire billing system to be digital because they were still typing up requisition forms on an actual typewriter.

You must have been a pretty impressive bookkeeper to convince someone to let you, as a teenager, digitize their entire business.

You have no idea. The owner would yell at me – half in English and half in Italian! "Marianela! What are you talking about? What are you doing?" I got yelled at like I was part of the family. He would call me "mia nipote" – "my niece."

For months, I kept the ledgers side by side with QuickBooks. I had to convince him that I could do everything on QuickBooks that we were doing in these huge 20x11 ledgers.

That experience informs my approach with clients. I always think, "Well, how would I explain this to my parents? How do I help you understand what I'm doing?" I've been doing that since I was 10, and I tell that to my team today. If you want to be successful with a client, you need to be able to explain whatever it is we're doing for them as if they were your parents or your grandparents. Don't assume that they know technical things, and don't use a lot of jargon that will make the client uncomfortable. Explain things in a way that your parents or grandparents will understand.

What kind of advice would you give to a young person today looking at the accounting profession but who doesn't see anyone who looks like them? I imagine there have been professional settings where you were the only woman or the only person of color in a room.

Yes, and I also came into the field when women were not as giving, not as nurturing. There was a mentality: "I needed to go through that, so you should too. I'm not going to make it easy for you." That was my experience coming into the field in the early 2000s.

Fortunately, I think that has shifted a lot, and I'm hoping to be part of that change where we're looking to help the next generation and serve as mentors. I think it's important to find a mentor either in your firm or through organizations like the FICPA. It's essential for young people who are considering this career to know that people care and will genuinely look out for them. Finding the right firm and working for the right manager will make all the difference in your ability to succeed. Make sure that you work for someone who appreciates you, recognizes your hard work, and is willing to invest in your success.

Given your experience, why was it important for you to lend your voice to the FICPA's Diversity and Inclusion Task Force?

Coming from the Women's Leadership Committee, it was a natural progression. I want to help women succeed in our industry and reach their highest levels of leadership, and I also hope to change the landscape for minority groups in our field.

It's like you said: Often, I found myself to be the only woman at the table and the only Latina. I hope that I can be an inspiration to other people. If you don't see someone like you, someone from your background who made it in a given profession, you might be intimidated to venture down that path.

We hope to develop programs to help employers see the value of having team members from different backgrounds and provide them with the tools to help them further diversity, equity, and inclusion efforts within their firm. We also want to assist students and new CPAs via mentorship, where we can help coach them.

I never doubted myself because I'm Latina or I'm a woman. I decided I was going to work my butt off, and that was it. But I recognize that I may have had thicker skin than most. I'm hoping to inspire young people to show there is a real future for them as a CPA.

You have so many options. I'm in financial planning and wealth management, but there's finance, industry, tax, audit.

When you pass the exam, and you're licensed, the world is your oyster.

Topics

FICPA Conversations

FICPA Conversations: Shawna Wells finally conquered the CPA exam

133345 — Thu, 29 Jul 2021 19:58:38 +0000

FICPA Conversations: Shawna Wells finally conquered the CPA exam 133345 Thu, 07/29/2021 - 15:58

August 2, 2021

Our FICPA Conversations series returns with one our newest members!

For more than 20 years, Shawna Wells dreamed of securing her CPA license. But self-doubt and an adversarial relationship with the CPA exam left her believing she’d never pass.

The Purchasing Manager for the Orange Country Sherriff’s Office, Wells built a career for herself, but she could never shake her desire to finally become a CPA.

Finally, over the course of a year, she ripped through all four sections of the exam and achieved her dream.

Now a licensed CPA and a member of the FICPA, Shawna is here to tell her story and to offer advice to anyone else who thinks that they can’t overcome the exam.

Tell us a little about your relationship with the CPA exam and how your were finally able to obtain your CPA license last year.

Getting my license had been a bucket-list goal since high school. Now, I'm 47.

When I graduated UCF with my accounting degree back in 2001, I got this big-old, test-prep book, and I thought, “I can't do this. I'm just not smart like this. Instead, I thought, I would get my master’s degree. Of course, life happened, and I didn’t get my master’s until 2014.

Still, the idea of getting my CPA license was something I couldn’t let go of. It was always the goal. I don't know why, and I can't explain it. I had been buying review courses all throughout this time – for years. I spent a lot of money on courses, but I never had the courage to actually take the test.

Finally, it was in July 2019 that I said, “That's it. I'm doing it.” I bought another review course, and I started to have my doubts again. But this time I decided to sit for the test. I had to get over the fear of it. I sat for FAR (Financial Accounting and Reporting) and I failed – with a 71. I thought, “Oh my god, I’m only four points away!” I took it again in March 2020 – right before COVID crashed the world – and I passed. I raced through the rest. I took REG (Regulation) three months later and passed; I took BEC (Business Environment and Concepts) three months later and passed; and I took Audit three months after that and passed.

A lot of people were shocked. They were like, “I can’t believe you passed three out of four on the first try.” Looking back, I can’t believe that I psyched myself out so much, thinking: “I can’t do this test. I’m too old. I can’t remember this information.”

Beyond it being an item on your bucket-list and something you were determined to cross off, what is it about a CPA license that really captured your attention in the first place?

I just always thought that if I was going to be in accounting, I had to go all the way. It’s hard to describe, because a lot of people that are not in accounting don’t understand. I wanted to prove to myself that I could do this. I got my bachelor’s in accounting; I got my master’s in accounting; I wanted to prove that I could get to the top.

I've worked in government my entire career. I've been at the Orange County Sheriff's Office for 24 years. I started as a 911 operator when I was going to college; I moved into grants once I got a degree; and then I kept pushing forward, first in finance and then into purchasing. Now, I’m looking to advance into the comptroller position, to hopefully go from 911 operator to comptroller.

Having that CPA license is going to prove to other people that I can do the job. They’ll know that if I can pass the CPA exam, I’m apt to do what they need me to.

Given your experience – that doubt you had – I’d like to ask you to offer some wisdom to others who may be in a similar position. First, what kind of advice would you give to a young accounting student who’s struggling with the idea of sitting for the exam?

I think it's such a high-pressure environment at times. When you’re studying accounting, everybody's asking, “Where are you going? What’s next? Which of the Big Four are you going to?” I didn’t feel like I was a part of that particular group of students. I didn’t believe I was as smart as they were. I truly underestimated myself, and it all seemed out of reach for me.

I wish I would have believed in myself. I wish I would have at least attempted to take the exam so I would have had an idea of what it was like, instead of just hearing about it and giving up . There is so much pressure to pass on the first try; it worried me, and it prevented me from attempting the exam.

So what if you don't pass it on the first try? Just jump in there and try. Take three full months to study a particular part of the exam – the time will fly by – and get a feel for what you’re really up against. I wish I would have done that when everything from college was still fresh in my head.

And how about for someone who finds themselves in the position you were, even just a few years ago. What would you tell someone who’s already established in their career and still questioning whether their dream is achievable or even worth it anymore?

I would tell those people that you never know what kind of doors are going to open for you. You never know what’s going to change in your life, or what kind of opportunities might arise that you’ll want to capitalize on. Having this CPA license makes me more marketable, and it gives me a sense of security. I worked hard for it, and no one can ever take it away from me.

It’s about commitment and coming to the realization that it’s just a test. Commit to studying, and take it one section and chapter at a time. It’s not about knowing everything; it’s just about being able to apply the material you learned. You just need to understand the concepts enough to apply them. Even now, I can’t tell you what’s on the exam (even if I was allowed to tell you). I just read the questions, I let my brain do the work, and I logically worked through it. It’s not a black-and-white test.

I started with the topics I really enjoyed, like FAR and REG. I felt they was easier to study because I really wanted to learn the material. If you’re just studying to take a test, that makes it harder. I decided I wanted to learn. I wasn’t trying to take a test anymore.

It was hard and stressful but so worth it. There are days I look at my certificate and still can’t believe I did it.

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FICPA Conversations

FICPA Conversations: David Richardson made history by being himself

133345 — Wed, 23 Jun 2021 12:22:55 +0000

FICPA Conversations: David Richardson made history by being himself 133345 Wed, 06/23/2021 - 08:22

June 23, 2021

Our FICPA Conversations series returns with an active member of the FICPA and a former member of Florida’s legislature.

David Richardson in 2012 became the first openly gay individual ever elected to the Florida House of Representatives and spent the next six years serving his Miami-area district.

Now a Miami Beach commissioner, Richardson is filling his time in the month of June like a lot of other CPAs – catching up on CPE ahead of the June 30 deadline.

He was nice enough to take a break and speak with us about his career, his time in office, the value of the FICPA’s advocacy efforts, and the importance of D&I, both in business and public service.

Tell us a bit about how your career unfolded. What was it prompted you to make the transition from business to politics?

I started my career as an auditor for the Pentagon in the state of Florida when I was right out of school, and I did that for about four and a half years. I was contacted by Arthur Young, which was one of the Big 8, and they offered me a job with their consulting practice in New York City, doing government contracts and advisory services. After two years in New York, I went to Washington D.C. for three more, and then started my own firm, doing government contract accounting advisory services; that was my area of expertise. As a pentagon auditor, I was with the Defense Contract Audit Agency, which is a civilian agency, part of the Department of Defense. I became an expert in government contract accounting, pricing and finance, and I had already done litigation support services, so my firm was rapidly growing in that area. I spent 80-90% of my time doing litigation support services and expert witness testimony on disputes concerning government contracts. I had my firm for about 15 years.

Then, at the age of 50, I retired from my practice and decided I wanted to do something else, even though I didn’t know what that something else was going to be. I had already moved to Florida. I grew up in Orlando and came to Miami to work on a consulting project in 1995 and ended up buying a small apartment – so I knew I wanted to live there.

I’d always been interested in politics, and the state representative office became available. I decided to run for that seat. At the time, the district was Miami Beach, downtown Miami, and another small city called North Bay Village. It was a four-way race. I made the decision to run, and 13 weeks later I won.

That’s a pretty big decision and pretty short period of time. What were your expectations when you decided to throw your hat in the ring?

I was kind of watching. I remember when the person in that seat resigned and the governor decided not to have a special election and to wait for the regular cycle. One by one, some of the local elected officials who were going to run decided not to. I got some encouragement from friends, and I knew it would be possible for a newcomer to win, because none of the people running had any experience either. They were sort of in my situation. I think I filed the day before the deadline, and I won on Aug. 14, 2012. I’m a Democrat, and there wasn’t a Republican or an Independent running in the race, so when I won the primary in August, it was over.

That made you the first openly gay candidate to win a Florida House seat. By the time you were sworn in, you and a colleague, Joe Saunders, were the first gay Florida House representatives to take office. What significance did that have to you at the time?

I’m proud of it. Joe won in November, so I kind of get the title of “first elected,” since my race was over in August. I got up, the day after I won, and there were 100 newspapers and media outlets calling me. Now there have been – I don’t know – a half-dozen others who have been elected. You know, it only took 174 years for that to happen, so it is something I’m quite proud of.

I’m also proud that it didn’t become an issue in the campaign. When I made the decision to run, I knew there was going to be a certain loss of privacy. I remember the Miami Herald wore an article about the four candidates and referred to me as the “Openly Gay CPA,” which I found to be interesting, because I don’t know that they had ever described anyone else as “openly straight.” But that’s how they described me, and it didn’t become an issue. I didn’t get any hate mail. I didn’t get any negative attacks from my political opponents about my sexual orientation. It just didn’t even come up, and it didn’t come up in my re-elections either.

How have you noticed both worlds – accounting and public service – change over time with respect to diversity, equity and inclusion, particularly for members of the LGBT community?

I think it’s a lot more open now. When I was a senior manager with Ernst & Young, there was no opportunity in the firm to express yourself. There were no Pride groups, like there are now, or anything like that, so people stayed hidden, hoping no one would find out who they really are. I remember going through the E&Y partners directory; there were a few women, but it was mostly men, and they all mentioned their wives. It was pretty clear that was part of the demographic. Even when I started my own firm, I was very careful about my personal life. It was law firms, primarily, who were hiring me as an expert witness, and I didn’t want them to discriminate against me and so forth. But I was pretty good at what I did, and I think most people felt that if they didn’t hire me, then I’d be on the other side of them in court. Eventually, all those same law firms wanted me as their witness. At that point, if someone would ask, I wasn’t shy about sharing my orientation because there was nothing they could really do to hurt me, financially or emotionally.

When I decided to run for office, I was already on one of the boards of the Victory Fund, a national group whose mission is to get openly gay individuals elected to public office. As I said, it wasn’t an issue in the election, but when I won, a pretty far-right conservative said it would be wise for me to come to Tallahassee and to keep my head down and be quiet. It’s funny, because later, after this person got to know me, he came to the House floor one day and said, ‘You know what? You’re a really good member of the House, and I’m really glad you’re here.’”

You have a unique point of view as both a member of the House and a member of the FICPA. Can you speak to the strength of the FICPA’s Governmental Affairs efforts and explain just how valuable advocacy is to our members?

OK, that’s a really great question. Most people who are a part of an association, they don’t know the day-to-day details of everything that association is doing. I got to see it firsthand as a legislator, because the Government Affairs team was in the Capitol every day during the legislative cycle. They were tuned into everything that possibly affect CPAs in Florida. It’s incredibly beneficial. Some organizations don’t have the ability to support a team who can be in Tallahassee. Then something happens, someone proposes a law or a regulation that will affect their business, and their voice isn’t heard. It’s one of the most valuable things the FICPA does for its members – monitoring what’s going on in the legislature and being able to react immediately.

You mentioned the Victory Fund and their efforts to propel LBGT candidates into office. Whether it’s in accounting or politics, what in your mind is the net result of having a diverse collection of voices in any given room?

I believe we can learn something from everyone. Just by my being in the room as openly gay person, people get the opportunity to know me, and it can break down stigmas. I had some pretty far right colleagues in Tallahassee who didn’t have a lot of experience interacting with gay people and feeling comfortable enough to ask general questions about the community. I remember someone asking, “What does LBGT stand for? What does that mean?” I always gave my colleagues license to ask me questions. As it turned out, I ended up becoming friends with a number of Republican colleagues who don’t share my values in terms of public policy. It created an opportunity to feel comfortable asking questions and listening to different perspectives.

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FICPA Conversations

FICPA Conversations: C'Lamt Ho is an advocate for his students and the profession

133345 — Tue, 25 May 2021 14:35:47 +0000

FICPA Conversations: C'Lamt Ho is an advocate for his students and the profession 133345 Tue, 05/25/2021 - 10:35

May 25, 2021

For our latest FICPA Conversation, we turned to a dedicated educator and devoted FICPA member: C'Lamt Ho.

C'Lamt is an assistant professor of accounting at Saint Leo University and the 2020-21 chair of the FICPA's Accounting Careers and Education Committee.

We discussed his passion for both his students and the profession, including how he went from actively avoiding accounting courses to eventually teaching them himself:

You initially had some trouble mastering accounting, and opted to pursue international business and social psychology instead. Of course, later on, you returned to accounting and are now helping other students succeed in the field. How do your early struggles back then inform your teaching today?

I first took an accounting course taught by an assistant at The Ohio State University. This was the first time I was exposed to accounting concepts, and we dove directly into the preparation of all financial statements. It did not go well; I was totally lost. I dropped the course and never wanted to revisit it again. Of course, my first job after college took me right back to accounting, and now I have students of my own.

First, I recognize each student’s individual challenges during their first class with me. Second, I tell them that they are not the only person in this world who has ever gone through this. I struggled with my first accounting class, as well. Accounting is like its own language. Students need to be patient and take one small step at the time. The more they’re exposed to the language, the more they’ll begin to understand it. It is crucial for students to understand fundamental concepts before they move on to higher-level activities – like the preparation of financial statements.

At the same time, I’ve always tried to make accounting concepts more practical to everyday life. I use personal examples and ask students to relate to the basic concepts of the accounting equation. I’ve been using this approach in all my accounting courses since 2004.

You're the outgoing chair of the FICPA’s Accounting Education and Careers Committee, developing programs for students and educators alike. What is it that’s made you so passionate about the FICPA and the future of the accounting profession?

Serving others is the most honorable thing for me to do, and it’s a big part of the FICPA. When I was a little, we didn’t have a lot to be able to give others. Helping someone was the only thing that I could do at the time, and it has become a second nature to me ever since.

When I went through my accounting education and started on my career path, I didn’t receive the kind of student-focused, early-career development that’s available today. For instance, Saint Leo faculty members help our students to land internships and secure full-time positions within the industry. And, of course, we’re working with the FICPA to advance these efforts and to support our students.

Accounting students are the future of the accounting profession. We need to expose them to as many different experiences and opportunities as possible in order for them to build relationships with practitioners. What students learn in the classroom is very different from what they can pick up at a CPE event, conference or seminar. Our Saint Leo students have provided a lot of positive feedback over the years after attending events put on by the FICPA’s Suncoast Chapter. It is incredibly rewarding to see students find a new job in accounting field, pass their CPA exam, and then give back to their communities. These are the things that motivate me to keep doing more for our students and the FICPA.

You work with students of all ages and from all different backgrounds. When you have a student who’s maybe unsure of whether accounting is really for them, what’s your pitch? Why should someone of any age, from any background, consider a future in accounting?

The biggest misconception about accounting is that it requires high-level math. I field this kind of concern from my Intro students all the time, and it’s the reason people shy away from accounting in the first place. But I tell my students that it’s myth. If you know how to complete simple arithmetic – addition, subtraction, multiplication, division – the chances of you overcoming this myth are high.

I talk to all my students about their future career plans and goals during their new-student orientation session. I share my personal experiences with them and how I ended up going back to school to get my B.S. in Accounting. An accounting position is a respectable job, and (in general) accountants are well-compensated. I tell students that a career in accounting has a rock-solid job stability.

If you have an accounting degree, your age and your background don’t matter – and you have a lot of options. Every business in every industry needs accountants. You could even get the IRS’s Enrolled Agent Certification to do tax. Or, if a full-time job in accounting isn’t necessarily your goal, you can create a part-time bookkeeping business. The opportunities in tax and other accounting services are endless. I believe current students who are hesitant about getting an accounting degree should meet with their faculty members to learn more about all the different paths they can take.

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FICPA Conversations

FICPA Conversations: Tarsha Jacobs on fitness, diversity, and 'firsts'

133345 — Fri, 26 Mar 2021 12:58:13 +0000

FICPA Conversations: Tarsha Jacobs on fitness, diversity, and 'firsts' 133345 Fri, 03/26/2021 - 08:58

March 26, 2021

We continue our Conversations series with an individual who has impacted at the FICPA at every possible level.

Tarsha Jacobs has served on the FICPA’s Board of Directors and Council. She’s chaired the Central Florida chapter, the Women’s Leadership Committee, the Accounting Careers Committee and been involved with the FICPA Scholarship Foundation.

“Sometimes I have to look at my CV to remember everything I’ve done,” she jokes.

A lifelong resident of the Orlando area, Jacobs now owns and operates her own firm, Tarsha R. Jacobs, CPA, PLLC, when she isn’t mentoring, or teaching test prep, or teaching yoga, or training for triathlons.

We discussed her role on the FICPA’s Diversity and Inclusion Task Force, her passion for physical fitness, and her journey from navigating college as a single mom to becoming a leader in her industry.

Here’s Tarsha’s story:

Tell us a little bit about your path as a CPA, from where you started to how you wound up wearing so many different hats with the FICPA.

I took my first accounting course in high school and loved it from the beginning. I knew this is what I wanted to do. I was a single mom in college and had to work full-time, so I identify with those students who are not the traditional student, who have to work their butts off like I did. I graduated from UCF in 1993 and went to work right away with Blue Cross Blue Shield in Central Florida to provide for my son. Later on, I went back to school – I had a goal to get my master’s before I turned 30 – and I got my MBA from the University of Phoenix in 2001. I returned to UCF to take additional courses, had a second child, went through the Becker review program – that’s why I’m a Becker teacher now – and finally took the CPA exam in 2004. That’s when I entered public accounting.

I went to BKHM CPAs and started as an audit senior and worked my way up to senior manager. I had only done healthcare to that point, so this is when I got a little more experience in other areas, including not-for-profit work, which I still do a lot of.

After working there about eight years, I made a tough decision about whether I wanted to start something of my own. I looked at my family history; we had a history of entrepreneurs there, of people owning their own businesses and being their own boss. I thought: “This is a good thing for me. It’s a legacy.” I decided to make that jump, it’s been eight years, and I have not regretted it for a single moment.

You’re a member of the FICPA’s newly created Task Force on Diversity and Inclusion. What are your hopes for what the committee can accomplish, and why was it important to you to take a leading role in the effort?

Having been in accounting for all these years in different positions, I definitely see the need for more diversity. I think back to a time when I went to an office for an audit, and I was in a room that was all-male, all-white and all-older. There just weren’t a lot of people in the profession who looked like me. I think it’s important for people to reach back and bring information to the next generation, and when companies don’t have diversity in their offices that mirrors our society, they’re missing out on a great deal of talent. That’s the diversity part.

When it comes to inclusion, it’s important to me not just to have a seat at the table but also to have a voice. It’s been a passion for me to try to share my career with others, giving back and mentoring.

We may not always meet our goal in having everyone embrace diversity and inclusion, but we can at least get our message out there about the benefits of having a diverse workforce and taking advantage of the expertise and different viewpoints people may have. I’m hoping, as part of the task force, to bring my experience to the table. It’s not just work experience but life experience – how I felt being the only person of color or the only woman in the room. It’s about empowering the next generation to stand up and a have a voice, to not be shy about speaking out about injustice or sharing your opinion.

You’ve mentioned some of the not-for-profit work and mentoring you do. You’re also involved with a group called “Black Girls Run.” Beyond how involved you are in the accounting profession, can you underscore the value of giving back and being a leader in other ways? In this case, why mentoring, and why fitness?

I’m now a mentor because of what mentors brought to my life and my career. I think sometimes we get bogged down in thinking there has to be a formal program, but I encourage young people to seek out a mentor, someone you admire. And it doesn’t always have to be career-related; it can be about life. Mentoring has been important for me as a leader, as a CPA, as a wife, as a mother, as a Christian. Having access to people who have been through something before is so important in terms of navigating the things you’re going to encounter in life.

In terms of physical fitness, it’s been something I’ve been really passionate about for the last 7-8 years. For me, it took getting to the point where my weight was an issue; you look in the mirror and you see a person you don’t recognize. Once I got to that point, I started slow and began to have a lifestyle around fitness. I didn’t just want to lose weight, have it come off, and then gain it again; I really made it a lifestyle.

I found “Black Girls Run” just by going to a race and meeting a few of the ladies and talking about what they do. The organization was started 10 years ago by a group of women who saw so much health disparity in the black community. Higher rates of obesity, high blood pressure, diabetes – all these things are weight and health-related. Joining that group has established a love for running I never thought I would have and led to me doing triathlons. That was about challenging myself to do something new. About three years ago, I became a triathlete and learned how to swim, which I had never done. A lot of people in the black community can’t swim; I don’t know why, but it’s a stigma. Then I got into yoga and actually became a certified yoga instructor.

It’s a passion of mine. Our health is important, and we can take it for granted.

This is less of a question and more of an observation, but you seem like you’re a very busy person. It’s impressive.

[Laughs] I get teased all the time. People ask where I get the energy. I teach yoga three or four times a week, but to me that’s renewing. It’s regrouping. It’s all about stretching your body and allowing your muscles and joints to recuperate. I don’t even consider that work.

Since it is Women’s History Month, and since you are a past chair of the Women’s Leadership Committee, I’m curious about what the industry could still do better in terms of welcoming and supporting female CPAs. Is it fair, based on what we’ve already discussed in terms D&I, to link the strides women have made as part of a larger story of advancement in accounting?

I think that’s true. Hand in hand with women getting into leadership roles, there’s been additional progress. But I still think there is a lot of room to grow. For me, not just as a woman but as an African American woman, I go into a lot of rooms and businesses, and there’s still not a lot of black women in those circles. It’s great to see people shattering ceilings and women stepping into leadership roles, because it gives the next generation the belief that, “This is something I can do.”

It’s one of things I discussed in my article for Florida CPA Today last summer: As African Americans or as minorities, we celebrate the “first” a lot, because in 2021 we’re still having the first African American or first woman in a given role, whether it’s in the military or accounting or heath or whatever. It’s taken this long for us as a society to begin to catch up, for those doors to be open and opportunities to be available to minorities.

There’s been a lot of progress, but there’s more to do when it comes to making sure women and African Americans and other groups of underserved and overlooked people have a voice and a place. That they can enter into these circles and be themselves. That’s the other thing – that they can be authentic and accepted. That is something we still struggle with.

Sometimes it can be hard to believe that one person can make a difference, and that line of thinking can be discouraging. You don’t seem like you succumb to that at all. What kind of advice do you give – whether it’s as a mentor or a family member or a colleague – to convince people of all they’re really capable of?

Take advantage of the opportunities you have as you interact with the next generation and as you step into positions of authority. Take those opportunities in your company or your circle of influence to really be thoughtful – and strategic. Sometimes things won’t be at the forefront of your mind when it’s not an issue that really affects you, so it’s about opening your eyes to what impacts the people around you and what the plight of others might be.

Be strategic in your thinking: “How can I help? How can I make this situation better? How can I improve my company? Are we really promoting diversity and inclusion, or are we just talking about it? Are we just saying we have programs, or are we really embracing this effort?”

Even if you can reach out to someone in your day-to-day life – whatever you’re passionate about – if you can make a difference in their life, maybe they can pass it on to the next person. To sit back and say, “I’m just one person,” you can always affect change. You can be the one who makes change wherever you are, in your own circle of influence.

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FICPA Conversations

FICPA Conversations: Kathryn Horton on ignoring the roommate in your head

133345 — Mon, 08 Mar 2021 13:30:00 +0000

FICPA Conversations: Kathryn Horton on ignoring the roommate in your head 133345 Mon, 03/08/2021 - 08:30

March 8, 2021

The second installment of our FICPA Conversations series is, appropriately, a two-parter!

In recognition of International Women’s Day, we spoke with our 2020 FICPA Women to Watch Award winners: Emerging Leader Kathryn Horton and Experienced Leader Karen Lake.

A graduate of Florida International University and Florida Atlantic University, Kathryn is a member of the FICPA Board of Directors, a member of the FICPA Council, and chair of the Young CPAs committee and CPA Summit.

She’ll take us through her winding path from school to factory life to breaking into the business and finally launching her firm, Kathryn K. Horton CPA, and explain the importance of patience, networking and determination.

To read our interview with Kathryn, scroll down; and to read our interview with Karen Lake, click the link below.

FICPA Conversations: Karen Lake on the true value of mentorship

Tell us a little about your path in the industry. You have a unique story.

It was a little bit of a different path than most. I actually wanted to do statistics; I wanted to be an actuary. The problem was that I wasn’t very good at calculus. Once I realized that was a roadblock, I knew accounting was the way I wanted to go. My dad was a CPA, so it was a natural fit. I went through school and got my bachelor’s, but when I graduated it was 2009, the job market was terrible. I had really worked my way through school and mostly taken night classes, and when I graduated, the opportunities just weren’t there. I took the CPA Exam while looking for work, but I still couldn’t find a job in public accounting.

So – I actually got a job working in a factory. I worked as a production control assistant and a production forecaster for a company that made aircraft parts in Ft. Lauderdale. I did that for two years and started going back to school for my master’s in accounting. I knew that’s still where I wanted to go, but that it would come when the time was right. In the meantime, at the factory, we had to do an inventory observation. I helped in getting everything prepared, and we had auditors come out. I thought it was just fascinating – the work they were doing. I was following along, asking all sorts of questions. I knew I wanted to go into public accounting, and I wanted to do audit.

With that in mind, I went to a career fair at FIU, resume in hand, and I pounded the pavement. When I was in school, I was always working and had never had the chance to meet with potential employers during recruiting events. It was an uphill battle. I met with 20 firms, and I got two callbacks. One of those was from a firm over in Sunrise – Daszkal Bolton – who brought me in as an audit intern. I got in a little late, starting as an intern at 25, but it ended up being a great opportunity. While I was there, I became intrigued by data analytics. For me, that was the best of both worlds, combining statistics and forecasting and accounting. I got my year of experience, secured my CPA license, and found my main interest area in accounting. Daszkal was also really great when it came to getting involved in the community and with professional organizations. It was a platform for me to develop and flourish.

From there, I went on to a larger, national firm – Marcum – to get some broader experience. That was a segue for me to jump off and start my own firm.

That is a pretty winding road, all things considered. What was it, through all of that, that motivated you to head out your own?

Data analytics was the driver; I wanted to cultivate that. But I also wanted the time and flexibility to get more involved with the profession. I really felt, through all the experience I had and all the networking I’d done through professional organizations, that I had developed a very solid sphere of influence. In that way, even though I was going out on my own, it didn’t feel like I was starting from scratch.

As I said before, my dad was a CPA. He had started his own firm in the 80s, so he, too, was very much an inspiration for me. He was very encouraging and gave me a lot of good advice. I have to say, it has been one of the best career decisions I’ve made.

After all that, how did being recognized with the Women to Watch Award reframe the way you looked at the early part of your career?

It was a very long road, and it did take time, but we all are a product of our experiences. So every step along the way was important for me to get where I am now. I think you have to take the opportunities when and where they are and not try to force things to happen. If you put in the hard work and the time and the dedication, it’ll all come back. Things work in circles.

When it comes to winning the award, it really did solidify that I’m doing something right when it comes to working hard and working with integrity. It helped establish me as a professional with my peers and our Young CPAs.

I’ve asked a version of this question to our other two Conversation subjects, Ron Thompkins and Karen Lake, but I’d like to get your thoughts as a Young CPA who’s already running your own firm. A recent study produced by the Association of Accountants and Financial Professionals in Business and the California Society of CPAs revealed that for every 10 of the accounting profession’s most senior leaders, “nine are white, eight are male and very few identify openly identify as LBGTQIA.” How do you think your peer group, your generation of CPAs, can make progress in the industry as advance in your careers and take on your own positions in leadership?

That’s a really great question. I have to say that with our Young CPA committee, we have a very diverse group. Our young professionals are open-minded and bring a different perspective than from that legacy era of 40-50 years ago, when it was very male-dominated, very white-male-dominated. Our Young CPAs are a very motivated, inspiring group. They make a positive impact within their communities, through service opportunities, and within the profession.

I do strongly feel that as our young professionals move into these leadership roles, we will see a lot more diversity and inclusion, because of how diverse we already are. I’ve been fortunate enough to go through D&I classes with our Young CPAs, and they are the change-makers. There will be a paradigm shift, and we already see it happening. We still have a long way to go, but we are starting to see a shift, and we’ll continue to see it over time, in part because our Young CPAs are so inclusive and motivated.

We started out by talking about your unconventional start. Given your particular set of experiences, what advice would you give to young women who are considering a future in accounting?

Take every opportunity possible, and never sell yourself short. A lot of times, young professionals or women won’t pursue certain opportunities, because they don’t think they have a shot or enough experience or self-confidence. Sometimes we do sell ourselves short. My dad would always say, to use a baseball analogy, take as many swings as you can, because you’re going to get a hit at some point. That’s how I’ve always operated.

You can achieve a lot more than you think, and that’s something that – 10 years ago, sitting in a factory – I would have never thought. If someone would have told me back then that I’d have my own firm, I wouldn’t have believed them. I’d have thought, “No. That’s reaching for the stars.” But it can happen! You have to believe in yourself and have that sense of self-empowerment. Don’t let that roommate in your head talk you out of the opportunities that could make a difference in your career.

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FICPA Conversations

FICPA Conversations: Former FICPA president Ronald Thompkins on diversity and inclusion

133345 — Wed, 10 Feb 2021 17:55:47 +0000

FICPA Conversations: Former FICPA president Ronald Thompkins on diversity and inclusion 133345 Wed, 02/10/2021 - 12:55

February 11, 2021

FICPA Conversations is a new Q&A series offering commentary from key individuals in the profession who have unique stories to tell and perspectives to share.

In honor of Black History Month, we’re kicking off FICPA Conversations with Ron Thompkins, the first black president of the FICPA.

With nearly 50 years’ experience in accounting, Ron currently serves as national quality control partner at WatsonRice.

Now splitting his time between Miami and Denver, he remains involved with the FICPA as trustee emeritus of the FICPA Scholarship Foundation – the upcoming 1040K Run remains near and dear to his heart – and as a director of the Florida CPA/PAC - South.

Here's Ron's story and our discussion about diversity, equity and inclusion in the accounting world. (This conversation has been edited and condensed for clarity.)

Tell us about your journey as a CPA. What did the accounting industry look like when you graduated from Howard? How were you able to navigate that world? And who are some of the people who helped guide you along the way?

I started in October 1972 with what was at that time Haskins & Sells and today is Deloitte. Out of all the issues we have with diversity and inclusion today, my early journey back in 1972 was one of excitement. I met some incredible people. At that time, as you probably would expect, there were not a whole lot of people of color in the profession. When I joined the Miami office, I think I was the third African American to ever work there. It’s pretty much a product of my upbringing that I never considered myself different. I immediately made sure to make myself part of the team.

I was incredibly blessed to have people who took me under their wings. They made sure that I had the best training and always included me in social functions after work. Ken Neighbors, who was a senior accountant at the firm, he was really instrumental in my growth. The very first job I ever worked on, I worked with him. I didn’t know it at the time, but he was considered one of the top seniors in the firm. He included me on every job he could. I learned a lot, I had a lot of fun, and as a result my development at the firm was incredible. I got some very good assignments – Florida Power & Light, the Deltona Corporation, the University of Miami. I had some blue-chip clients in the early 70s, when that was highly unusual for a person of color.

At the time I left the firm, I was a manager. My growth was, in hindsight, more than I expected. I did see at that time, even though it was not that promising, a clear path to partnership. Being a person who always wanted more, I came to the conclusion that partnership would not be as rewarding as I thought it would be. When I was approached by these two buddies of mine about starting our own practice, I felt that was more of a challenge than even making partner at a national firm. We launched our practice on Aug. 1, 1980. When we had the opportunity to merge with the firm I’m with now, which was much larger and much more diversified, we did not hesitate to take them up on the offer.

The journey that I’ve had since has allowed me to do some things that are pretty important to me. I’ve served on the Minority Initiatives Committee of the AICPA, prior to it becoming the National Commission on Diversity and Inclusion. The highlight of my career has always been 2000-01, when I became the president of the FICPA.

When I was at Haskins & Sellers, Lyn Conlon was a partner and very active in the FICPA. At the time, when you did your orientation paperwork, you also got an application for membership with the FICPA. It was not optional – you had to attend the monthly meetings. My take on that was: If I have to be here, let me get involved. So I got involved with committees: A&A, Peer Review, Professional Ethics, and a few others.

After being president of the FICPA, I had the opportunity to become a member of the Board of Directors for the AICPA. That took my career to another height.

The profession has been very good to me. Out of my four kids, I had a pleasant surprise when I took my daughter Carshena to college; she told me she wanted to major in accounting. All of my children when they were younger would work in the firm from time to time, but none of them expressed an interest in doing it for a living. Carshena was my big surprise. She’s now the managing partner of the Miami office of the firm.

The profession still has a long way to go to reach the levels we want it to in terms of diversity and inclusion, but I’ve enjoyed my journey for the almost 50 years I’ve been in it.

Becoming the first black president of the FICPA, what did that distinction mean to you at the time and how do you look back on your tenure?

As monumental as it may be to people of color, it was really a non-event for me, because I felt pretty much accepted all the time. For 14 years, I had been involved at the FICPA at different levels. The way I was welcomed as president, I had the full cooperation of the board. All the chapter presidents and officers fully accepted me. I had no pushback on any initiative that I wanted to put in place.

Prior to becoming president of the FICPA, I was president of the FICPA Scholarship Foundation. A lot of the chapter officers already knew me. When I went out to chapters, I was welcomed and accepted.

It was just a labor of love. I had an enjoyable experience.

There was a recent study produced by the Association of Accountants and Financial Professionals in Business and the California Society of CPAs that examines the Diversity Gap in the industry. One of the statistics cited in the report is that “for every 10 of the profession’s most senior leaders, nine are white, eight are male and very few identify openly identify as LBGTQIA.” Considering the leadership roles you’ve taken on in your career, can you discuss the importance of diversity not just throughout the industry but particularly at its highest levels?

One of the reasons I ended up in Denver is Sharron Lassar, who is the current head of the Colorado Society of CPAs and also a longtime friend. She and I were involved with diversity and inclusion for a number of years. When I was president of the FICPA, she was one of my board members, and we really became close. Back in 2015, she asked me to come teach at the University of Denver. I assumed it was just be for a short time, and it was always one of the things on my bucket list, to teach at the collegiate level. From 2015-18, I had the opportunity to teach, and that became an incredible experience.

One of the courses was a graduate class on leadership, which I co-taught with another guy from PwC, and we introduced the students to diversity and inclusion. We were able to emphasize that when you look at the future and the organizations that are really on the cutting edge and leading their industries, they all have one common theme: They have diversity and inclusion as a core component of their strategy. That allows them to see new opportunities for growth. Companies that don’t have diversity and inclusion as part of their core strategy are probably going to lose out on those opportunities for growth, for the future, because they aren't focused on people who don’t think the way they do. They just don’t think out of the box.

There’s an excellent video presentation we used to show our students, with Bob Mortiz from PwC and Mellody Hobson of Aerial Investments. The two of them have an excellent talk on the importance of diversity and inclusion in corporate America.

Finally, diversity, equity and inclusion are all words we use often, but they can mean different things to different people. How do you think about these concepts, and what advice would you give industry leaders who are looking to promote positive change?

What made my journey in the profession is that I intentionally went out of my way to get to know people who did not look like me or come from backgrounds like I did. That helped me tremendously.

Diversity and inclusion can just be buzzwords, but once you actually put them into play and they're supported by the leaders of an organization, the dividends are tremendous.

When you think about Gen Z and the future and what the world is going to look like, it’s become a prudent business decision to start making sure your workforce and talent force is more diversified and inclusive.

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