03 2023 CPAmerica Advantage Newsletter

CPAmerica ADVANTAGE

News From Your Accounting Association

March 2023

IN THIS ISSUE:

► Celebrating and supporting female partners

► Preferred Provider Spotlight - SafeSend

► Member News

► CPAmerica Insights - Grace Horvath

Celebrating and supporting female partners

Interview with Heather Cochran & Amelie Larson, RFH, PLLC

According to the Accounting MOVE Project, in 2022, women made up on average 53% of the employees and 31% of the partners of U.S. accounting firms. Interestingly, both of those numbers are up from the prior year and have been consistently going up over the last four years.

For this Women’s History Month, we spoke with two female partners from our new member firm, RFH, PLLC, located in Lexington, Ky. RFH became a member of CPAmerica in 2022, and provides a comprehensive array of assurance, tax, and advisory services, while maintaining their core values of integrity, commitment, and excellence.

Heather Cochran, CPA, CGFM, joined the firm out of school in 2005 and became a partner in 2015. Amelie Larson, CPA, MST, joined the firm in 2010 and became a partner in 2016. On the track to partner, they had a unique opportunity at their firm. With a few older partners looking to retire, the timing for Cochran and Larson to join the partnership when they did all fell together perfectly. Both of them have worked hard in their careers to become partners with RFH and appreciate the journeys they have taken to get where they are today.

As the youngest partner at the firm, Cochran shared that early on in her career, she was encouraged to be confident in her expertise and skills. “My mentor always made me feel like there’s nothing I can’t do. Having someone backing you and supporting you along your career is so helpful,” shared Cochran.

Mentors have played an important role in both Cochran’s and Larson’s lives. Both named retired partners as key mentors in their journeys. They also expressed the impact these partners made in shaping them as accounting professionals.

“He was like my office dad and also a professional mentor,” said Larson. “He instilled in me the importance of prioritizing people; knowing what they would what, caring about their feelings and knowing how to service them professionally. In regard to professional people relationships, he’s taught me a lot.”

Cochran leads the mentorship program at RFH, which pairs up each member of the firm with a selected mentor. Firm mentors help others to work on goal-setting and other professional matters, but they also check in on mental health and how mentees are doing personally. New team members select from a few different people, and pairs are created. Both Larson and Cochran are currently mentoring four individuals each at the firm.

“I think it’s important to have someone at the firm who you can talk to, even if you’re brand new,” said Cochran. “I had that support when I first started and know how important it is to pass that along to others.”

In addition to mentors and support, they also expressed the importance of prioritizing self-care and celebrating successes. Exercising, spending time with family and friends, unplugging when necessary and the official RFH book club, which both Cochran and Larson are members, are some of their self-care tactics.

Whether it’s messages of praise being displayed for team members or taking a spin on the RFH prize wheel, they take time to celebrate each other’s successes as a firm.

“Just a simple ‘great job and thank you’ goes a long way,” said Larson. “When you give recognition to team members for their hard work, it affects people so positively that you want to keep it up.”

In their time as partners, they are also thankful they have found support in each other. “Every Thanksgiving, we text each other to say how thankful we are,” laughed Cochran. “We provide so much support for each other. In this industry and especially as a woman, you can’t be an island.”

Heather Cochran

Amelie Larson

Thought Leadership by Paychex

Learn how one woman’s love for shoes inspired her to start her own interior design firm and create a thriving workplace culture

Kelly Ennis, founder and managing principal of The Verve Partnership, embraces her passions: creativity, designing, family, shoes. And speaking of shoes, almost 15 years ago she walked away from a successful career at an interior architectural design firm on the West Coast to start her own business on the East Coast.

She’ll tell you that she should have thought things through more, that the challenges she encountered — from access to available funding to securing clients — were no different than what many women face when starting their own business, and that it worked for her.

Ennis will also tell you that she’s happy, and she has scored some very nice shoes over the past decade by integrating one of her passions into the workplace culture at The Verve Partnership in Baltimore, Md.

“Everybody always needs a good base to stand on, just like when you’re building a building,” Ennis says. “As part of our onboarding [process], we give a $200 gift card for shoes. I mean, I love shoes.”

Here are a few tips Ennis shares with women considering starting their own business:

• Bring along an advisory group from day one: an accountant, consultants who know payroll, HR, benefits (retirement plans), a lawyer for contracts and someone who understands business insurance.

• Create the business you want, not a mirror of where you came from.

“I came from a command-and-control environment. Show up at 8:30 and work until 5:30, and people wondering why you leave early sometimes” Ennis says. “I wanted to have the freedom and flexibility to spend more time with my family. It is a goal I do not sway from.”

• Share your knowledge and get involved

“Design impacts behavior starting at the elementary level, like third grade,” Ennis says. “(We should) make sure younger, more diverse groups of children know about this amazing profession, and also empower young women to know they can design and build things that last 20 years or longer.”

To hear more about stories like Kelly’s, visit tinyurl.com/5xmzkjbd

In memory of David Wolfenden

We are deeply saddened to share the unexpected passing of Wheeler, Wolfenden & Dwares Managing Director, David Wolfenden. David and his firm have been members of CPAmerica since 2000.

In 1998, along with his former partner and friend, John Wheeler, he co-founded Wheeler & Wolfenden. He took great pride in his accounting firm, and he was instrumental in growing the firm into what it is today, Wheeler Wolfenden & Dwares. He was very active in the Delaware community, serving on various boards. Dave loved his work and the clients he was able to help along the way, but more importantly, he loved his kids and his family.

“While his loss is felt profoundly by each of us here, we are inspired to channel our grief into providing the same service you have come to know and expect from the firm that bears his name. We are committed to honoring Dave’s legacy by continuing to uphold his high standards of professionalism and quality service to all.” - WW&D

team

Member News

Wall,

Wall, Einhorn & Chernitzer, P.C. (WEC) is pleased to announce Nicole R. Kint, CPA, HCCP, as the firm’s newest partner. “We are very excited to have Nicole as part of our partner team,” said Angela Kerns, WEC’s managing shareholder. “Nicole has contributed tremendously to the success of our firm, and we have no doubt that she will help pave the way in WEC’s next chapter of growth and success.” Kint has more than 12 years of experience in real estate private accounting, serving as a real estate sales agent and accountant for an extensive rental portfolio and construction group. This experience affords her a uniquely comprehensive understanding of her client’s needs. She works with real estate and construction clients, providing attest and consulting services. Kint is co-leader of the firm’s Recruiting Team which includes developing strategies to attract the best talent, streamlining the interview process, and collaborating with schools to better prepare future accounting graduates.

Sage Intacct ERP system. Prior to joining Gray, Gray & Gray in 2020, Constantopoulos held accounting system implementation and client advisory positions at several prominent regional accounting and law firms, as well as the Federal Reserve Bank of Boston. “Advancing technology is a critical aspect of financial management for growing organizations,” said James DeLeo, MBA, CPA/MST, Gray, Gray & Gray’s leading partner. “Bill and our Sage Intacct team are delivering the power of this technology to our clients so that they can make more informed and timely decisions for their future.”

both private and public companies across multiple industries. “After nearly five years with Whalen CPAs and over two decades in the field of accounting, we are thrilled to promote Tammy into her new role as vice president of accounting services,” said firm president and CEO, Lisa G. Shuneson. “Her experience and time in the industry make her an invaluable asset to our team and our clients. We feel confident that she will continue to bring client-focused excellence to her newly acquired leadership role.”

Brickley DeLong announces two promotions, one partner

Larson & Company is proud to announce Craig Swindlehurst, CPA , has been promoted to the position of tax partner in their Salt Lake City location. Swindlehurst has more than 10 years of public accounting experience and was formerly a senior tax manager. Swindlehurst spent five years in the Orange County office of Deloitte before joining Larson & Company in 2017. Swindlehurst specializes in tax preparation and consulting services for small-to-medium sized business, captive insurance companies, and complex multi-state partnerships.

Hughes, Snell & Co., P.A. (HSC) announces Steven M. Davis, CPA , has been named as the firm’s managing shareholder. Davis is stepping into the position that has been held by Sharon Thompson, CPA, since 2009. Davis has been with HSC since 2000. He has served as firm general services shareholder and works with a broad range of clients on tax and financial reporting issues. He is a member of the Florida Institute of CPAs (FICPA) and American Institute of Certified Public Accountants (AICPA). “My vision for HSC is to maintain the good reputation that the firm has earned over nearly 50 years while continuing to bring solid planning and advice to our clients in a fast paced and ever changing environment,” notes Davis. “I hope to continue providing the solid leadership that Frank Snell, Sharon Thompson and the HSC shareholders have demonstrated consistently through changing times.”

Whalen

Promotes

Brickley DeLong (BD), a full service public accounting and business consulting firm in West Michigan is pleased to announce that the firm has promoted Matt Lator, CPA , to partner. Recently serving as a senior manager, Lator has been with BD since 2017 via a firm acquisition. Managing partner Brenda Jacobs states “This recognition demonstrates Matt’s dedication to Brickley DeLong, as well as our awesome team, our clients and their ever changing needs, and the communities in which he works and lives. Matt will move forward in playing an essential role shaping the future of Brickley Delong.” Additionally, Melissa Kindinger has been promoted from senior to supervisor. Kindinger joined BD in the fall of 2018, and has a diverse skill set. Ranging from working on and supervising others on A&A engagements for a broad variety of entities, preparation and review of tax returns, becoming one of our farming experts, and has expert level skills with Excel.

Gray, Gray & Gray, LLP, a business consulting and accounting firm based in Canton, MA, has announced that Bill Constantopoulos has been elected a partner. He will continue to lead Gray, Gray & Gray’s Sage Intacct & Advisory Practice Group, which manages the design, transition and implementation process for clients who adopt the powerful

Whalen CPAs, a client-focused accounting firm with over 75 years in business, is promoting Tammy Snider, CPA, to vice president of accounting services. Snider first joined Whalen CPAs in 2018, bringing with her over 20 years of experience in the private sector. As a certified public accountant, Snider has spent her career in senior management and controller positions for

HRC is proud to announce the promotion of Krista McCarthy, CPA, to tax director. In McCarthy’s time with HRC, she built a cohesive and talented team of tax professionals. Through her expertise and enthusiasm for tax and the profession, she has been actively involved in transferring the management of the Tax Department from the retiring tax principal to ensure a smooth transition to not just our clients but staff as well. McCarthy is a member of the HRC leadership team in 2023 and brings innovative ideas and positivity to her job.

Einhorn & Chernitzer, P.C. announces new partner

Bill Constantopoulos elected partner at Gray, Gray & Gray

CPAs

Tammy Snider to Vice President

HRC announces tax director promotion

Nicole Kint

Bill Constantopoulos

Craig Swindlehurst

Steven Davis

Matt Lator

Tammy Snider

Krista McCarthy

Larson & Company announces tax partner promotion

Hughes, Snell & Co., P.A. names new managing shareholder

Insights

Addressing womens’ issues as part of your firm DEI strategy

Welcome to The Women’s Issue. March is Women’s History Month which includes International Women’s Day on March 8. Women were first nationally recognized for a week in March 1981. After being petitioned by the National Women’s History Project, Congress designated the entire month in 1987.

President Jimmy Carter delivered this message that inaugural year of recognition, “From the first settlers who came to our shores, from the first [Native American] families who befriended them, men and women have worked together to build this nation. Too often the women were unsung and sometimes their contributions went unnoticed. But the achievements, leadership, courage, strength, and love of the women who built America was as vital as that of the men whose names we know so well.”

Looking at today’s accounting profession, women comprise half of the bachelor’s accounting degree graduates (and more than half the masters), yet men are still outpacing women at the firm. The number of women partners in CPAmerica firms is only 27%, as shown in last year’s practice management survey. Although significant to note, that percentage grew 9% from 18% in the prior year’s practice management survey. A drastic change since I joined the association is the number of female managing partners. In 2011, there were four female managing partners and now within our 90 firms, there are 18 including some who co-manage.

Addressing the opportunities and position of women in the profession is one piece of the larger DEI efforts, where the goals for inclusion are not only for the sake of equity but to foster more innovative environments and positive economic outcomes. Research shows that only a 10% increase in gender diversity will increase gross profits. Meanwhile, a recent McKinsey report showed that “women are demanding more from work and leaving their companies in unprecedented numbers to get it.” So, what are women looking for? Women are prioritizing flexibility, a commitment to DEI, and they

want to see a clear path for advancement.

I recognize I came up in a world where women were broadly expected to “act like men.” Seeking equality was often misinterpreted for “treat me the same,” rather than “recognize me as a unique individual.” Attributes such as the ability to multitask, a tendency to be more inclusive and quicker to show compassion were interpreted as being not as focused or less apt to make difficult decisions. Thankfully, we have evolved where there is greater acceptance that fair is not equal, where fair strives to meet individual needs.

Despite the increased efforts in improving women’s professional opportunities, women still get tripped on the “brokenrung” where men outpace them earlier in their careers. This happens for a variety of reasons, of which the most obvious is starting a family. Although flexibility across the board is supporting increased opportunities for advancement, women disproportionately still own the role of caregiver that often extends from the early years of parenthood through to assuming the responsibilities for their own aging parents. This was even more pronounced during the pandemic.

Even without a pandemic, I was a single mother working full-time. Although I now sit among the small percentage of women who make it to CEO, my path was undoubtedly a longer one that was paved

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with fortitude, ambition, and bosses and mentors who supported me. I suspect many of you can look back on your own paths and recall who supported you along the way. Now it is our turn to mentor and support the next generation to advance their careers. Whether it be through coaching one’s own daughter in her career or providing guidance to the young women (and men) in CPAmerica’s firms, we have the power and responsibility to pay it forward.

The point of a Women’s History Month is to reflect on how we got where we are today and recognize the diversity of people who have advanced our societies and the quality of our lives. Step out of the shoes you are wearing now and remember who was behind you as you grew into them. As was done for us, let’s share our knowledge, provide clear opportunities, and recognize all our people as individuals with unique needs and abilities.

Grace Horvath, President