7 minute read
focus on careers
from CPA2b Magazine - Fall 2021
by WICPA
These CPAs found that “accounting” and “work-life balance” aren’t mutually exclusive terms.
By Ken Wysocky
Historically speaking, CPA certification has been the gold standard for demonstrated competence in accounting — a way for aspiring accountants to burnish their credentials and establish themselves as higher-echelon professionals.
But some question whether the CPA credential still is relevant in today’s rapidly changing business world or if it provides a sufficient return on investment.
According to interviews with a cross-sample of CPA chief financial officers representing a variety of business sectors, the answer is a resounding “yes.” And that’s especially true for those aspiring to become senior financial executives in the corporate world.
Kelly Dolphin, CPA4 CFO, Gordon Flesch Co., Madison
Primary responsibilities:
Oversees accounting, accounts payable, business-process optimization and purchasing and pricing teams Education: University of Iowa — bachelor’s and master’s degrees in accounting Years as an accountant: 16; seven at Gordon Flesch
After earning a master’s degree in accounting in 2005, Dolphin started her career as a staff auditor at Ernst & Young in Minneapolis and subsequently held two other accounting-related jobs before being hired as controller at Gordon Flesch, an office equipment and technology provider, in 2014. She subsequently was promoted to VP of finance and then to CFO in 2020.
“At the time I graduated from college, I thought I knew the value of CPA certification,” she said. “But as I look back now, it’s been even more valuable than I expected. Those credentials helped get me where I am today. I wouldn’t have this job without it. “And when hiring for certain positions, I often look for individuals with CPA licensure and experience in public accounting.” Studying for the CPA Exam exposed Dolphin to many different aspects of business that benefited her as her career progressed. It prepared her to make better business decisions in areas such as acquisitions. “There are a lot of different intangibles that factor into acquisition decisions, not just numbers,” she said. “A lot of it centers on business acumen, and I think the CPA Exam prepares you to develop that insight.” Dolphin urges anyone who’s thinking about skipping CPA certification to think long term about career goals. Anyone interested in becoming a senior finance leader should definitely go for it, she said. “Several years down the road, it could give you a leg up over those without the CPA credential,” she explained.
— Kelly Dolphin, CPA
— Marc Cadieux, CPA
Marc Cadieux, CPA4 CFO, Children’s Wisconsin, Milwaukee
Primary responsibilities:
Oversees accounting team, treasury management, accounts payable/approvals, financial reporting, revenue cycle, supply chain and real estate
Education: Marian University in Fond du Lac, bachelor’s in accounting; UW–Milwaukee Sheldon B. Lubar School of Business, MBA Years as an accountant: 33; 16 at Children’s Wisconsin Cadieux began his career with Deloitte LLP in Winnipeg, Manitoba (his hometown), and then in Milwaukee. He was named director of physician financial services at Children’s in 2005 and became CFO in 2015.
“Having CPA certification has been very valuable to my career,” he said. “It brings credibility to your personal brand because you’ve taken your education to the next level to get certified in the field you studied. And if you’re going to go to school for four or five years, why wouldn’t you get certified? You’ve already done most of the work.”
Cadieux noted that during job searches for accountant and finance positions at Children’s, résumés from candidates with CPA credentials “go in a different pile.” CPA licensure also gave Cadieux a wide breadth of business knowledge that enables him to confidently stand up in front of the organization’s board of directors and speak intelligently about various aspects of business.
“Becoming a CPA gave me business expertise beyond accounting,” he noted. “The business world is more than just debits and credits. For example, when dealing with mergers and acquisitions or complex real estate transactions, I understand the business side of the deal. I can think about how these transactions will affect financial numbers and reporting.” Cadieux’s advice for accounting grads? Think long term, not short term. “You’ve got to play the long game,” he emphasized. “Becoming a CPA will pay long-term dividends. Your name followed by a comma and the letters ‘CPA’ will stay with you for as long as you work — and people you’re competing with for jobs might not have it.”
Heather Dunn, CPA4 CFO & Senior VP, West Bend Mutual Ins. Co., West Bend
Primary Responsibilities:
Oversees teams in corporate accounting, financials, investment accounting, internal auditing, billing Education: St. Norbert College, bachelor’s in math and business; University of Notre Dame, master’s in accounting Years as an accountant: 21; 13 at West Bend Mutual
Dunn’s first job was with Ernst & Young, and she recalls how stressful it was to earn CPA certification during her second year at the firm. “It was challenging to work full time and still sit for the exam,” she said. “But many firms don’t promote people to manager or give bonuses to employees without the CPA credential. It wasn’t easy, but I got it done.”
After eight years at EY, West Bend Mutual hired her as a controller in 2008. She added assistant VP of corporate accounting to that title before becoming CFO in 2017.
CPA licensure gave Dunn a well-rounded view of the inner workings of business, which has served her well. Much of her job now revolves around systems, data flow and business-growth tactics, not just crunching numbers, she noted. “I sit at the strategy table, too,” she added. “My job is much more IT and strategy focused than accounting focused, which I didn’t expect at the start — but I really like it. And having my CPA license was a big help. “I work with contracts, vendors and management all day long. I feel comfortable negotiating contracts and can understand contract language and the risks involved,” she said. “I wouldn’t have that kind of confidence if I hadn’t learned those things while studying to pass the exam.” Dunn also firmly believes CPA licensure helps people get a foot in the door for job interviews. She noted that because many accounting firms now cover the cost of the exam, financial concerns should be less of a hurdle.
Kevin Monson, CPA4 CFO, A-1 Excavating Inc., Bloomer
Primary Responsibilities:
Oversees corporate accounting, financials, investment accounting, internal auditing, billing Education: UW–Eau Claire, BBA (double major in accounting and management information systems) Years as an Accountant: 33; six months at A-1 Excavating
— Kevin Monson, CPA
Monson began his career as a staff accountant at Bertelson Co. (now merged with Wipfli) in Eau Claire, followed by stints at an oil company, a general contractor and CliftonLarsonAllen (CLA) before joining A-1 Excavating earlier this year. “It’s been a crazily entertaining career,” he said. “And having my CPA license definitely was a plus. I’m a firm believer that if you’re going to spend the time in school, you should complete the CPA Exam and get licensed.”
Monson noted that in public accounting firms, promotional opportunities — and higher earnings — are limited without the CPA credential.
“You can’t go beyond director or senior manager without it, and regulations also would bar you from being an owner,” he pointed out. “So you’re really limiting your earning potential.” Monson believes CPA certification is the way to go, even if it means extra time in school.
“You can’t give up so easily,” he said. “If you go into corporate accounting, CPA licensure will get you up the ladder faster. And you’ll have a broader background — an extra level of intelligence.”
Ken Wysocky is a freelance writer based in Whitefish Bay. Contact him at kenwysocky@gmail.com.
