CPA2b Magazine - Spring 2021

SPRING 2021 | VOL. 16, NO. 2

BORN TO

BALANCE Matthew Kaiser 6

Plus...

JOB OUTLOOK FOR 2021

TECH SKILLS YOU SHOULD KNOW

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VALUE OF THE CPA CREDENTIAL CPA2b Spring page 2021 | 22 wicpa.org

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WICPA Career Center

Post Job Openings l Upload Your Resume l Apply For Internships

Whether you’re looking for a new career or a new employee, the WICPA’s new and enhanced Career Center can help you make the most of your search.

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| wicpa.org CPA2b Spring

Find or2021 post a job today at wicpa.org/CareerCenter.

Spring 2021 | Vol. 16, No. 2 A publication of the WICPA Educational Foundation, Inc. | wicpa.org

Contents 6 b recognized | member profile Born to Balance Matthew Kaiser will graduate from Concordia University Wisconsin in May with a multifaceted Bachelor of Science degree in business administration and the 150 credits needed to sit for the CPA Exam. And he did it in four years.

By Marcia Tillett-Zinzow

features 10 b enlightened | employment outlook

30 b informed | CPA journeys

The Job Outlook Is Solid for 2021 Four CPA professionals who are involved with talent acquisition share their two cents on why accounting grads can look forward to lots of job options.

By Ken Wysocky

16 b strategic | destination CPA

Destination CPA is a feature profiling young professionals who provide their insights about what it’s like to work as a CPA in public accounting or industry.

34 b wise | career advice

Why You Need a Mentor, Coach and Sponsor Climbing the metaphorical “career ladder” isn’t always easy. But there are people who can give you a boost along the way. Discover who they are.

By Taylor Knopf for thiswaytocpa.org

20 b qualified | technology

Technology Skills New Accounts Should Know As it is with most industries and professions, technology is bringing changes to accounting and finance careers.

By thiswaytocpa.com

36 b aware | transitioning

22 b valued | CPA rationale

Say “Yes” to the CPA Credential An experienced CPA and accounting educator outlines her reasons for always saying “yes” when asked if students should take the CPA Exam.

By Stacy Stinson, CPA, MBA

26 b prepared | CPA Exam

Guide to the Four Sections of the CPA Exam The four sections of the CPA Exam must be taken separately, and all four must be passed before one can become a licensed CPA.

My Pathway to CPA: Two Perspectives Two young professionals — one in public accounting and one in corporate — share their separate journeys to obtaining the CPA credential.

By Eric Buss, CPA and Brenna Van Rooy, CPA

From College to Career The transition from college student to full-time employee can sometimes be stressful, but it doesn’t have to be. Learn some tips on how to make it smoother.

By Tramaine Robinson

departments 4 b in the know | empowerment 14 b affiliated | welcome new members 40 b strategic | career spotlight

By Wiley Efficient Learning CPA2b Spring 2021 | wicpa.org

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2020-2021 WICPA Educational Foundation Board of Directors: President Jessica M. Horning, CPA Secretary/Treasurer Roberta A. Ward, CPA Directors Christopher M. Cholka, CPA, CGMA Kenesha A. Coleman, CPA, MPA, EA Paul J. Frantz, CPA Jon C. Gaines, CPA, CGMA, MBA Jessica B. Gatzke, CPA, MST Elizabeth Hazi, CPA Kale Post, CPA, MPA Wendy K. Potratz, CPA, MBA, CMA, CGFM Jose E. Saenz, CPA WICPA Board Liaison Lucien A. Beaudry, CPA, JD WICPA President & CEO Tammy J. Hofstede

Publication Team: Editor Marcia Tillett-Zinzow Design & Layout Brett Stallman Advertising Sue Daniels Printing Special Editions

ACCOUNTING SCHOLARSHIPS

Receive $2,500 in scholarship money!

Apply online at wicpa.org/scholarships through March 15, 2021.

Applications will be accepted through March 15, 2021. Scholarships are awarded from the WICPA Educational Foundation to qualified accounting students in their last year to meet the 150-hour requirement to apply for a Wisconsin CPA license.

CPA2b is a biannual publication of the Wisconsin Institute of Certified Public Accountants. Change of address should be sent to: Membership, W233N2080 Ridgeview Parkway, Suite 201, Waukesha, WI 53188; Phone: 262-785-0445; Fax: 262-785-0838; email: amanda@wicpa.org. Statements or opinions expressed are those of the authors and not necessarily those of the WICPA. Publication of an advertisement does not constitute an endorsement of a product or service by CPA2b or the WICPA. Articles may be reproduced with permission. © Copyright 2021 CPA2b.

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CPA2b Spring 2021 | wicpa.org

Le t’s make the conne ct ion.

INTRODUCING A NEW WAY FOR WICPA MEMBERS TO COLLABORATE WICPA Connect is your new and exclusive members-only networking and knowledge base designed to connect you with WICPA members and resources.

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Network with peers and grow your contact list using the member directory of more than 7,000 members.

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Contribute and download resources such as documents, whitepapers, articles, reports, guides and more.

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Post questions to find out from fellow members who have the expertise or may have been in the same situation.

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Share your knowledge and expertise by answering questions and offering your insights and ideas to fellow members.

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Personalize your profile by adding your interests, education, experience, honors and even your photo.

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Customize your experience with controls for profile visibility, discussion signatures, notifications and more.

As a WICPA member, you already have a profile on WICPA Connect.

Simply go to wicpa.org/connect and sign in using your existing website login information.

Connect with thousands of fellow members now at wicpa.org/connect CPA2b Spring 2021 | wicpa.org

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in the know | the value of membership

EMPOWER YOUR PATHWAY TO

CPA A

s the accounting industry continues to grow and current CPAs and organizational leaders begin to retire, now is the perfect time to start planning for your own career path. Preparing for the CPA Exam while you are still in college can give you a distinct advantage when you start your career, and the WICPA is a partner for you to lean on throughout your professional journey.

By Amanda Armitage

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The pathway to achieving the CPA credential will look different for each candidate as they navigate the route that will fit their lifestyle; however, understanding the CPA Exam process and subsequent licensing will be a crucial part of succeeding. The WICPA has compiled two checklists to help candidates understand the pieces of the CPA certification. You’ll find them on our website.

They are wicpa.org/ExamChecklist and wicpa.org/LicenseChecklist. Here are some of the commonly asked questions that these lists can answer:

CPA2b Spring 2021 | wicpa.org

What is the process for becoming a CPA in Wisconsin?

Each state has its own requirements for becoming a CPA. In Wisconsin, you must do the following: 1 Earn a bachelor’s degree and meet the specific educational requirements to sit for the exam.

2 Pass all four sections of the CPA Exam within an 18-month rolling window.

3 Complete 12 months of public accounting experience or its equivalent.

4 Apply for your license through the Department of Safety and Professional Services (DSPS).

5 Pass an open-book ethics exam.

What is the difference between sitting for the CPA Exam and applying for the CPA license?

The pathway to the CPA is twofold: First, you must meet the requirements to sit for the CPA Exam in your jurisdiction. Then, after you have successfully passed all four parts of the exam, you must be approved for licensure through your state’s governing body. There are several organizations that collaborate to bring you the CPA Exam and licensing process. The National Association of State Boards of Accountancy (NASBA) administers the CPA Exam for all the nation’s different jurisdictions, while the DSPS grants licenses to CPA applicants in Wisconsin.

What are the educational requirements to sit for the CPA Exam in Wisconsin?

Are they the same requirements needed for licensure?

You’ll find all the details on our website, but here are the basics: CPA licensure in Wisconsin requires an accounting graduate with a bachelor’s or master’s degree to have completed 150 hours of education and passed all four parts of the CPA Exam. However, to sit for the exam, you need to have completed only 120 credit hours of education, as long as you have met the requirements outlined in the CPA Certificate & License Checklist.

They include 24 semester hours in accounting-related courses such as financial accounting, cost or managerial accounting, taxation, auditing and information systems.

As long as you have met these requirements, you absolutely can apply to sit for the exam while you are still in college — and it may even give you a jump-start on your career.

Becoming a WICPA member can also help you.

Joining the WICPA as a student or young professional provides you with the necessary support to help you navigate your pathway and steer yourself in the direction of success. In addition to our online resources, the WICPA has a team that is ready to help answer your questions and simplify your pathway to the CPA. If you have any additional questions, email amanda@wicpa.org or call the main line at 262-785-0445.

Amanda Armitage is the membership outreach coordinator for the WICPA. Contact her at 800-772-6939, ext. 4511 or amanda@wicpa.org.

New Native Scholarship Program for Future CPAs The American Indian Graduate Center (AIGC) has created the Investing in Native CPAs Program, a $2 million scholarship initiative that will fund 150 Native scholars pursuing accounting and finance degrees with the goal of increasing the number of Native CPAs within the next 10 years.

The initiative is funded with a $1 million gift from the Johnson Scholarship Foundation and a $1 million match from the AIGC. For information about AIGC scholarships, visit www.AIGCS.org.

CPA2b Spring 2021 | wicpa.org

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recognized | member profile

Photography by Rick Swearingen

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BORN TO

BALANCE

By Marcia Tillett-Zinzow

Y

ou might say Matthew Kaiser has been an accountant since middle school. That’s when his parents bought him a simple paper business ledger so he could keep track of his money — not that he had a fortune to keep track of back then. But what money he did have, he would record there.

“I would count all my change and bills, add it all together and place it in my ledger to see how it was growing or declining over the months I tracked. It was pretty interesting,” he said.

Once he got a little older, he started using Excel to record his debits and credits because he still liked seeing how money grows and where it goes and how to balance it out.

“It’s just the idea of growing your wealth,” he said. “I like seeing it and trying to save money and invest it.”

Is it any wonder, then, that Matthew has set his sights on becoming a CPA? A senior at Concordia University in Mequon, Matthew will graduate in May with a Bachelor of Science in Business Administration in both accounting and finance as well as a minor in forensic accounting. He’s been taking 18 or more credits every semester so he can finish his college education in four years. Many future CPAs take five years to accumulate the 150 credits necessary to take

“

It’s just the idea of growing your wealth.

I like seeing it and trying to save money and invest it.”

the Uniform CPA Examination, double majoring or earning a master’s degree in the process.

“It’s a little crazy, and I don’t know if most people would recommend taking that many credits. But it’s a good way to save money and get done faster,” Matthew said.

He’ll have 155 credits when he graduates, so he’ll be eligible to sit for the CPA Exam whenever he’s ready.

A well-rounded college experience Matthew’s extracurricular activities have taken him in many directions, from (among other things) exploring the architecture of Lutheran churches and

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recognized | member profile

Career aspirations In terms of career goals, Matthew plans to start out in public accounting and transition to something more “high finance or analytical” later on. He said for now he’s keeping his options open but wants to do something where he is able to continually grow and develop and help others reach their goals.

He currently has job offers from major accounting firms and is interning this semester with BDO USA LLP. He’s also done internships with such distinguished organizations as Richmond Investment Services in Mequon, Fidelity National Information Services and the law firm of Husch Blackwell in Milwaukee.

Matthew Kaiser has been taking at least 18 credit hours per semester to reach 150 in four years.

cathedrals with the Concordia Steeple Chasers and discussing various worldviews with Philosophy Club (he co-founded and serves as treasurer for both) to his involvement with Youth Ministry, German Club, Concordia Legal Society and the Accounting Club, for which he has been serving as president for the past two years.

“I like to expand my knowledge and my network.

Obviously, you don’t need to do all of this to be successful in the business world, but I think all of these extracurricular activities together are a great way I can be involved on campus and stay busy,” he said.

Club activities also kept Matthew busy in high school back in Missouri, where he grew up. He was heavily involved in Future Business Leaders of America (FBLA) and Distributive Education Clubs of America (DECA) and won numerous awards from both organizations for his activities and projects and served in leadership roles for both clubs.

The broad variety of extracurricular activities he’s been involved in, combined with his educational choices, makes him a versatile and adaptable individual — a characteristic that can help him find success in whatever he chooses to do.

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“I’m thinking about law school, too,” he said. “I was looking at securities law or tax law or something in that realm, which I think would be interesting and would continue to challenge me intellectually. But there are a lot of opportunities out there, and I’m not 100% sure yet what I’m going to do.”

One thing he knows for sure is that he’s going to obtain his license as a certified public accountant (CPA) and a chartered financial analyst (CFA). He’ll be eligible to sit for both exams whenever he’s ready since he’ll have the required college credits.

“That will be the next step,” he said. “They are pretty difficult exams, and I like the challenge of that. Also, it’ll increase my understanding of the accounting profession and finance and make me more marketable.

There’s only an upside to having these certifications behind your name.”

Matthew is also considering taking the certified fraud examiner (CFE) exam so he can explore the world of forensic accounting.

“I’m very interested in white-collar crime,” he said.

“I’m curious about how people can rationalize knowingly stealing money from corporations, churches and charity organizations. I like the puzzle and the challenge of trying to figure out why they did it, what led them to that point and how to catch it. It would be fun to look through the financials and see if there were any red flags.”

Further down the road, he may even start his own accounting or law firm.

“I’ve always had an entrepreneurial spirit,” he explains. “I think maybe long term I’d like to start my

“

If you want to go the management or leadership route, having an accounting background is really going to help you get there. You’re going to know business, and you’ll have the background that can take you anywhere you wish to go.” own firm — like an accounting or law firm. I believe that’s a good way to build your wealth and your brand, and you can make the mission exactly what you want to do in life.”

Since he was given his first accounting ledger in middle school, Matthew has known exactly what he wanted to do. When asked what advice he would give a high school student or college freshman who was trying to decide what direction to take, he gave the following answer: “Choosing a major in an area you love is important.

But I also think people should look at the bigger picture and think about where they want to get in life,” Matthew said. “If you’re not really interested in doing accounting for the rest of your life, you should choose it anyway, just to learn the language of business. If you want to go the management or leadership route, having an accounting background is really going to help you get there. You’re going to know business, and you’ll have the background that can take you anywhere you wish to go.”

OF INTEREST TO NOTE

A

n interesting fact about Matthew Kaiser, 22, is that he was born in Bucharest, Romania.

During its communist era, Romania became severely impoverished and overpopulated, and many babies were abandoned and put into orphanages or foster care. Matthew lived in foster care for the first few years of his life, and his adoptive sister and brother, now 22 and 23, were placed in crowded Romanian orphanages.

While things are slowly improving, the Romanian orphanages were operated under deplorable conditions for many years, and foster homes were not much better. Families from the international community, including the United States, began adopting Romanian children after their plight became public in the early 1990s. In 2004, Romania abolished intercountry adoption altogether.

(Although a revised adoption law went into effect in 2012, complex requirements and restrictions make adoption difficult today. See NPR.org/2012/08/19/ 158924764/for-romanias-orphansadoption-is-still-a-rarity.)

Matthew’s American parents adopted him and his sister and brother around 1999–2000, bringing them to the United States and raising them in Foristell, Missouri.

“Many find this interesting,” said Matthew of his Eastern European heritage. “Despite what happened there, I think it’s pretty cool to be a RomanianAmerican.” He hopes to someday visit his birth city of Bucharest.

Marcia Tillett-Zinzow is a Wisconsin freelance writer and editor.

Contact her at mtzinzow@icloud.com.

CPA2b Spring 2021 | wicpa.org

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enlightened | employment

The Job Outlook Is Solid for 2021 Even with the pandemic, accounting grads needn’t worry about gainful employment.

By Ken Wysocky

D

espite the COVID-19 pandemic, the job outlook for 2021 accounting graduates remains as strong as ever, according to a cross-sample of industry insiders in both education and the business community.

“Demand for accounting and finance jobs has held during trying times, like the last recession, and it’s holding true again,” said Carver Smith, CPA, a partner at the Milwaukee office of Baker Tilly Search Carver & Staffing, a wholly owned Smith, CPA subsidiary of Baker Tilly. “It’s still a candidate-driven market, meaning there’s more demand than there is supply.

“In the 30 years I’ve been hiring accountants, there always seems to be core demand regardless of economic conditions,” added Smith, whose role includes overseeing Baker Tilly’s direct-placement practice in Milwaukee and Chicago. “There’s always a need to have someone to close the books, do taxes and so forth.”

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Alysha Jeske, a human resource generalist based in the Green Bay office of Hawkins Ash CPAs, agrees with Smith’s assessment. She handles human resources for five of the firm’s six Wisconsin offices and also has frequent contact with officials at other similarly sized regional accounting firms.

Alysha Jeske

“The employment outlook is very good at all of our locations, and we’re not seeing any hardships in terms of finding talent,” Jeske said. “In fact, we’re getting busier. We never really slowed down, even with COVID. “We’re a medium-sized firm that continues to grow,” she explained. “So we expect to have more openings coming up for both new graduates and experienced professionals

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enlightened | employment

and will bump up our recruiting efforts accordingly in the coming months.”

There will be stronger demand for entry-level positions than for higher-level jobs, which are harder to fill. Part of that difficulty stems from larger firms in other states that offer higher pay to experienced accountants while still allowing them to remain in the Midwest and work remotely because of the pandemic, Jeske noted.

“There is a lot of competition in our area to get tenured candidates,” she said. “It’s a whole different ballgame for tenured positions.”

Education perspective At the other end of the pipeline, educators also see indications of a strong job market for accounting graduates in 2021. Kara Coleman, CPA, an assistant professor of business administration at Mount Mary Kara Coleman, University in Milwaukee, said the CPA school’s Business Administration Department continues to receive requests from local businesses for graduates needed to fill entry-level staff positions.

“We’re actually seeing an increase in requests, especially for entry-level staff accountants and financial analysts — people who can process information quickly and make it palatable for others,” she reported. “So the job outlook remains strong. And I don’t think that it’s something that will go away.”

Part of that strong demand may stem from growing ranks of upper-level accountants retiring coupled with fewer students majoring in accounting, she said.

“We’re seeing a decline in (accounting) enrollment and have for several years,” she said.

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“There are a lot of outside factors involved, but tuition costs in particular have a lot to do with it,” she said, noting that the 150 credits required for CPA licensure in Wisconsin adds an extra year of education for some accounting students.

Internship indicators At the University of Wisconsin–River Falls, the level of internships for junior and senior accounting majors — another indicator of a robust job market — remains healthy. The school has 13 interns for the upcoming Dawn Hukai busy season, which is about a quarter of the school’s junior and senior accounting majors, noted Dawn Hukai, an accounting professor.

“That’s a pretty strong season, given our size,” said Hukai, who’s also the chair of the school’s Accounting and Finance Department and an associate dean of the College of Business and Economics.

“We usually know a year in advance whom we want hire full time, so we decided to offer them parttime work prior to graduation to entice them to then take full-time positions,” she explained.

“We were nervous in spring to see how the pandemic would impact internships last year,” she added. “But some firms transitioned to remote internships, and some just ended their internships early. By the end of summer, most were virtual, and this past fall we had a few more in-person but still mostly virtual internships.”

Better yet, salaries for accountants also remain robust. “We’re still seeing strong offers in the experienced marketplace, which is the primary lens through which I view the industry,” Smith said.

Internships are crucial for accounting majors, Hukai pointed out..

“Firms like to try students out before offering them a job,” she said, noting that more than half of the school’s interns receive job offers. “I always tell students to try and squeeze one in because it makes both sides more comfortable. You not only become a known quantity to the firm, but you also get to see if you like working at the firm.”

Hawkins Ash usually hires 15 to 20 interns for a typical busy season and tries to focus more on sophomores and juniors. The firm usually extends job offers to 70% to 80% of interns upon graduation, Jeske said.

Hukai also pointed out that some firms are spreading their internships over the course of a year, including summer and fall, rather than just during the tax season.

“We’re very pleased to see this because it gives students more opportunities and flexibility to align internships with their course loads,” she said.

Overall strength Hukai said the job market is strong enough that even students who wait until graduation to start interviewing for positions still are finding jobs. The downside is students who wait may end up with fewer offers — and as a result, fewer options — than if they interviewed earlier, she said.

Hawkins Ash opted to try a new hiring strategy this past fall: It offered part-time employment — 20 hours a week — to students with lighter course loads during their final semesters, Jeske said.

“Accounting always is and always has been a strong profession, and there aren’t any signs of it slowing down anytime soon,” he noted. “It may be morphing into more reliance on things like data analytics, but overall demand continues to hold up.

There’s no such thing as a completely recession-proof profession, but accounting comes pretty close to it.”

Ken Wysocky is a freelance writer based in Whitefish Bay. Contact him at 414-962-6202 or kenwysocky@gmail.com.

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affiliated | WICPA membership

WELCOME NEW STUDENT MEMBERS

Hannah Adalance Joe W. Borton Phuong Dang Reilly, Penner & Benton, LLP Tabitha T. Exum Samantha K. Fink Emily Hacker Rogers Behavioral Health Miranda Kemp

Andrew Z. Klinich Robert C. Roth, CPA, S.C. Jodi R. Lamsam Jennifer A. LeCaptain Lakeland University Taylor Liddicoat Kristi Parker Ruder Ware, L.L.S.C. Panyia Yang Lauren K. Zimmerle Spring Bank

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strategic | destination cpa

Chris Cholka, CPA Job title: Accounting Manager l Employer: Cousins Subs

What influenced your decision to become a CPA? My accounting professor and advisor urged everyone to take enough credits to sit for the CPA Exam whether or not we planned to take it, so we would always have the option. I chose to become a CPA to strengthen my expertise and help advance my career.

How did you complete the 150 hours necessary to take the CPA Exam?

My goal for college was to graduate in four years.

To accomplish this goal, I took summer and winter classes every year. While it was a lot of work, I was thankful to earn my degree in four years with enough credits to sit for the exam.

What are some dead-wrong assumptions people make about CPAs? One false assumption is that CPAs only work with numbers. CPAs are not limited to financial roles.

They are trusted in many different departments, such as information technology, human resources and operations.

What’s the best part about your current job?

Working for a small company allows for a large variety of roles and projects. This allows me to widen my knowledge base instead of only working in a small field of expertise.

How did you find your first job out of college?

I worked with a recruiter who was able to set up several interviews at companies that matched my strengths and personality. Recruiters can also coach you in résumé building and interviewing.

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What was your first year like?

I spent my first professional year learning how the business operates and my role within the company. I also discovered the role company culture plays in the success of a business.

What surprised you the most when you started your job?

The thing I was most surprised about was my struggle with the transition from college life to professional life. The expectations and mental exhaustion from work were significantly different than what I had experienced in my previous jobs.

What’s the best thing about being a CPA? The best part about being a CPA is being a trusted resource for your company. And having that designation on your résumé helps to position you above many others when searching for opportunities.

What do you like most about the organization you work for?

Cousins Subs has a great company culture in that they provide opportunities for career growth. They encourage everyone to excel and grow in their roles within the company.

What are your goals for the future?

My short-term goal is to become the director of finance at Cousins Subs. My long-term goals are to become a VP of finance and a WICPA board member.

Sam Gasser Job title: Staff Accountant l Employer: Wegner CPAs

What influenced your decision to become a CPA? I decided to become an accountant because of my detailed nature and the sense of accomplishment I get from fixing errors and seeing books balance.

I got into public accounting because it offered the largest range of experience within the accounting industry.

How did you complete the 150 hours necessary to take the CPA Exam?

I completed my 150 hours by doing my liberal studies and accounting degree and tagging on a second major in finance to get past the 150.

What are some dead-wrong assumptions people make about public accounting?

The first false assumption that comes to mind is working long hours. This may be different depending on where you begin your public accounting career, but my employer provides a work-life balance agreement and helps employees stick to it.

What’s the best part about your current job?

I would say my favorite part of my job at this moment is meeting many different business owners in my local area. I also work with a lot of nonprofits, and seeing the work they do and being able to help them with their accounting needs is very rewarding.

How did you find your first job out of college?

My first job out of college came from an internship I did during my junior and senior summers. Interning is a great way to gain experience and get a foothold into the company you would like to start with. So use that time at the career fair to find a company you could see yourself jumping into after college.

What was your first year like?

The first year was a big learning experience. I work in the Audit Department, and I learned a lot about the procedures to perform and how to talk to clients.

College teaches you theory, but you learn the nuts and bolts on the job.

What surprised you the most when you started your job?

I think what surprised me most was how much communication there was between the team and the client. As someone who is more introverted, I was a bit put off at first, but talking to the client quickly became a fun part of the job.

What’s the best thing about being a CPA? I am currently studying for the CPA Exam. From what I have heard, completing your CPA certification is one of the last big milestones of your accounting career. It helps open doors and gives you a much better understanding of the accounting profession as a whole.

What do you like most about the organization you work for?

My favorite part about Wegner CPAs is the culture.

We are a somewhat small firm — 160 employees in total — and that makes for a friendly firm with a worklife balance focus. Being able to like the organization you work for is huge for both your satisfaction and your productivity.

What are your goals for the future?

I plan to obtain my CPA license and work my way up the firm ladder. In most cases, moving from a staff accountant to senior is the biggest change, as you begin running your own jobs and helping staff. I enjoy working for Wegner, and I can see myself being here a while.

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Jordan Nettesheim, CPA Job title: Staff Accountant – Audit l Employer: Sikich LLP

What influenced your decision to become a CPA? Since I was a junior in high school, I knew that accounting was my dream profession; however, it was not until college that I discovered public accounting and the CPA certification path. Shortly after my internship with Sikich LLP, I made the decision to pursue my CPA license by taking the CPA Exam.

How did you complete the 150 hours necessary to take the CPA Exam?

I was able to complete the 150 credit hours necessary for the CPA Exam with my undergraduate degree at Carroll University. The university offers an accounting major with a CPA emphasis, which lays out the courses students can take in four years to reach the 150 credits.

What are some dead-wrong assumptions people make about public accounting?

The most common assumption I hear about public accounting is that auditors also know the ins and outs of tax law. While that may be true for some versatile auditors, that is not always a true assumption.

What’s the best part about your current job?

The best part of my current position with Sikich is the unique challenges that each audit brings. Although some audits can be similar, no two are exactly the same.

Each audit challenges what I know and requires me to build upon that knowledge, as each one has its own unique complexities.

How did you find your first job out of college?

Carroll University offers a course within the accounting program that exposes students to prospective employers in both private and public

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accounting. Sikich LLP was one of the many employers involved, and through this course I was able to secure an internship position that led to full-time employment.

What was your first year like?

My first year was both challenging and rewarding.

I learned so much more than I ever expected I could learn about accounting and auditing while also trying to efficiently transition to working remotely in response to the COVID-19 pandemic.

What surprised you the most when you started your job?

The thing that shocked me the most when I started my job was the amount of hands-on knowledge I learned outside of what I was taught in school. There is so much on-the-job learning that happens with each audit that cannot be replicated in a classroom setting.

What’s the best thing about being a CPA? My favorite part of being a CPA is the network I have access to and the knowledge that I have gained from connecting with people. Accounting is always changing, and to have those stable resources who can help further expand on new concepts and information is invaluable.

What do you like most about the organization you work for?

The best part about working for Sikich LLP is the people I work with. I have learned a fair amount from working on audits, but it is truly the people that have expanded my knowledge of auditing and what it actually means to be a CPA. What are your goals for the future?

My goals currently include continuing my career at Sikich and expanding on the knowledge that I have gained so far, as well as potentially pursuing the accredited financial examiner (AFE) certification.

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qualified | technology

Technology Skills New Accountants Should Know

By Thiswaytocpa.com

A

s it is with most industries and professions, technology is bringing changes to accounting and finance careers.

“The accounting industry is shifting drastically with technological innovation,” said Danielle Brannock, CPA, analytics delivery specialist at Ernst & Young LLP (EY).

“Firms are coming up with interesting and unique ways to approach traditional accounting issues.”

Within the audit practice area, for example, drones are being used to conduct inventory on large client properties, she said. While today’s college graduates may not need to learn to operate a drone, they may want to consider becoming proficient in technologies that will help them get ahead as they enter the workforce.

Here’s a look at the latest technology students should know:

Structured query language (SQL) SQLcourse.com describes SQL as the standard language for relational database management systems — a language used to communicate with a database.

“In data analytics, we are now able to offer full population testing for our audit teams, providing them a higher level of assurance in their audit findings over traditional transaction sampling,” Brannock said. “In my role, I work with auditors to obtain and analyze journal entries and trial balances from the client. These files can come in a variety of forms, from a small Excel sheet to a large .bak file, which is a full backup of the client’s SQL database and runs 4–5 gigabytes for the averagesized company.”

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Python Python is a programming language that can be used by those who may want to develop data rather than just analyze them, said Brannock, who is currently taking free classes in Python from Codecademy.

For example, a large firm she previously worked for is using Python to develop artificial intelligence that reads leases, contracts and legal documents. Brannock said the user inputs certain parameters, such as the name of a customer and dates of correspondence, and the system automatically scans all documents in the online database for those keywords. Anything meeting the parameters is placed on hold for a human user to review and confirm whether it meets expectations. Creating a program to read documents removes hours of administrative work for auditors, paralegals and administrative assistants, all of whom would have otherwise been tasked with this work, Brannock said.

Tableau, QlikView and Spotfire Tools such as Tableau, QlikView and Spotfire can be used for creating and sharing data insights as a way to visualize results.

“

Every skill you pick up is going

to make you more valuable and marketable.”

— Danielle Brannock, CPA

“Visualization is still a newer skill set within the accounting world, from my experience,” Brannock said. “That said, the ability to use Tableau, QlikView or Spotfire is a valuable one, as our clients are asking for more and more from us.”

PowerPoint, Excel and communication tools Without a doubt, college students need to graduate with an understanding of the basics, including Excel and PowerPoint, said Aaron Saito, CPA, M&A controller at Intel Corp. He said data still often come in the form of an Excel file, while presentations are regularly made in PowerPoint.

Understanding communication and chat tools is becoming increasingly valuable as well, Saito said. Slack and Skype allow quick access to co-workers who may be down the hall, working from home or traveling. He often lets his team work from home, knowing they can quickly and easily communicate using these tools.

courses, while more complex software programs such as Python are sometimes offered as electives.

If the desired courses aren’t offered at their university, students can consider seeking out online courses or internships to learn more. Brannock said she’s currently teaching herself the web programming language HTML through StackSkills, which charges for classes. For students on a budget, free learning opportunities such as Khan Academy are available.

“Every skill you pick up is going to make you more valuable and marketable,” Brannock said. “Even if you don’t see yourself using it in your traditional audit or tax role, your team will appreciate the efficiency you can bring to their world if you come on board with an exposure to these things.”

Find more information about the pathway to CPA at www.thiswaytocpa.com. This article is reprinted with AICPA permission.

Some of the standard technologies, such as PowerPoint and Excel, are integrated into university CPA2b Spring 2021 | wicpa.org

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valued | CPA licensure

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SAY

“YES” TO THE

CPA CREDENTIAL Students often ask if they should pursue a CPA license. My answer is always “YES”!

S

By Stacy Stinson, CPA, MBA

tudents usually decide to pursue a CPA license beyond the four-year accounting degree at the beginning of their college career.

Whether or not to pursue a CPA license (or other certifications) is one of the first career decisions that students make for themselves.

Students are receptive to the benefits and positive impact of the CPA credential on their career. The National Association of State Boards of Accountancy (NASBA) lists five positive benefits of obtaining a CPA license. They include the following:

• prestige and respect • career development • career security • job satisfaction • money and benefits

Cost and responsibility However, after more research, it becomes clear to students that the benefits come with a cost and a tremendous responsibility.

Students must sign up for an additional 30 credit hours, study for and pass a grueling four-part national exam, compile relevant work experience and pay all related fees. If that is not enough, licensed CPAs have to complete many hours of continuing education throughout their careers.

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valued | CPA licensure

CPAs agree to abide by the AICPA Code of Professional Conduct and other legal and ethical regulations. The Code applies to CPAs in public accounting, private business and industry, government, education and all other sectors.

And yet, after students learn all of this, when they ask me again if they should pursue the CPA license, my answer is still “YES”! But I also want students to know what it means to be a licensed CPA. Becoming a CPA brings an expectation of expertise in accounting and professional responsibility to perform services at the highest level of integrity and with a duty to protect the public, according to the AICPA Professional Code of Conduct. It requires a positive mindset and confidence that you can meet the goal.

Answers to the following five questions can help students make the best decision for their careers: 1. Am I excited about accounting? This is evidenced by an eagerness to learn more about the accounting profession and network with current practitioners. It may mean that you are a member or an officer of the campus accounting club. You smile when A = L+SE. 2. Am I motivated to obtain a CPA license? There is something inside that is pushing you to pursue this certification. This may be evidenced by researching, on your own, the process to obtain a CPA license. This internal drive can help to sustain you through the process.

3. Am I determined to obtain a CPA license?

The most challenging part of receiving the license is passing the Uniform CPA Exam.

Studying for the exam takes time and money and may mean making sacrifices to meet your goals. Are you committed to take (and possibly retake) sections until you succeed? Are you looking for employers who will financially support your goals?

4. Is this the best time to complete the exam?

The path to obtaining a CPA license will mean additional coursework and study beyond the standard four-year bachelor’s degree. Time

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is needed to achieve this goal. It is generally accepted that the best time to begin the exam is as close to your formal education as possible.

This is only true if it is the best time for you.

5. Am I capable of performing at the highest level of integrity and in the best interest of the public? Integrity is defined in the AICPA Code of Professional Conduct as follows: “Integrity requires a member to be, among other things, honest and candid within the constraints of client confidentiality. Service and public trust should not be subordinated to personal gain and advantage. Integrity can accommodate the inadvertent error and honest difference of opinion; it cannot accommodate deceit or subordination of principle.”

The Code defines public responsibility as follows: “A distinguishing mark of a profession is acceptance of its responsibility to the public.

The accounting profession’s public consists of clients, credit grantors, governments, employers, investors, the business and financial community, and others who rely on the objectivity and integrity of members to maintain the orderly functioning of commerce. This reliance imposes a public interest responsibility on members.”

“

Becoming a certified public accountant is one of the premier nationally recognized certifications and can pay dividends throughout your career.”

These are two essential qualities of a licensed CPA.

They are not taken lightly within the overall profession, and they are expected by our clients.

If you have decided to pursue a CPA license, here are five things you can do that will help you succeed.

• Continue to study, maintain good grades and connect with the accounting faculty.

• Monitor the NASBA website (www.nasba.org) for any changes to the Uniform CPA Exam or state requirements.

• Review the exam sections and testing objectives to determine your areas of strength and where

• Create a time frame and financial budget to help plan your course.

The decision to become a certified public accountant takes research and personal consideration of your long-term goals to make the right decision. It is one of the premier nationally recognized certifications and can pay dividends throughout your career. And that is why, when I’m asked, I always say “YES”!

References American Institute of Certified Public Accountants (2014). AICPA Code of Professional Conduct. New York, NY:AICPA. Elkins, J. (2017, April 26). Top 5 reasons to be a CPA. National Association of State Boards of Accountancy. https://nasba.org/blog/2017/04/26/5-reasons-tobe-a-cpa/

you need support.

• Maintain membership in the WICPA or another state CPA society to connect with the profession and make valuable contacts.

Stacy Stinson, CPA, MBA, is assistant professor of accounting at Concordia University Wisconsin in Mequon. Contact her at Stacy.stinson@cuw.edu.

CPA2b Spring 2021 | wicpa.org

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prepared | CPA Exam

BEC

FAR

AUD

A Guide to the Four Parts of the CPA Exam 26

CPA2b Spring 2021 | wicpa.org

T

he following are the four parts of the CPA Exam: • • • •

Auditing and Attestation (AUD) Business Environment and Concepts (BEC) Financial Accounting and Reporting (FAR) Regulation (REG)

Each section contains five “testlets,” which are sets of questions. In all four sections, the first two testlets contain Multiple-Choice Questions (MCQs), and the next two testlets contain Task-Based Simulations (TBSs), which reproduce real-world scenarios. The last testlets in AUD, FAR and REG contain more TBSs, and there are three written communication tasks in BEC.

AUD SECTION

REG

The AUD section of the CPA Exam requires you to demonstrate your skills in auditing and attestation to solve, in total, 72 MCQs and 8 TBSs, which are equally weighted in terms of scoring. That is, the MCQ testlets account for 50% of this section’s score, while the TBSs make up the remaining 50%.

As far as topics and weighting, here’s how the AICPA breaks down the AUD section of the CPA Exam in terms of what it covers: 1. Ethics, Professional Responsibilities & General Principles – At least 15% and up to 25% 2. Assessing Risk and Developing a Planned Response – 20% to 30% 3. Performing Further Procedures & Obtaining Evidence – 30% to 40% 4. Forming Conclusions & Reporting – 15% to 25%

BEC SECTION The BEC section of the CPA Exam is designed to have you demonstrate that you have mastered the business core, which is foundational to success in an accounting career.

It is the only section that includes written communication tasks in the last of its five testlets. The first two testlets of the BEC exam contain 62 MCQs. Testlets 3 and 4 of the BEC exam contain four TBSs in total. In general, 50% of your

CPA2b Spring 2021 | wicpa.org

27

prepared | CPA Exam

score comes from MCQ testlets, 35% from TBS testlets and 15% from the Written Communication testlet.

For topics and weighting, here’s how the AICPA breaks down the BEC section of the CPA Exam:

comes from MCQs and 50% from TBSs in the REG section of the CPA Exam.

For topics and weighting, here’s how the AICPA breaks down the REG section of the CPA Exam:

1. Corporate Governance – 17% to 27%

1. Ethics, Professional Responsibilities & Federal Tax Procedures – 10% to 20%

2. Economic Concepts & Analysis – 17% to 27%

2. Business Law – 10% to 20%

3. Financial Management – 11% to 21% 4. Information Technology – 15% to 25%

3. Federal Taxation of Property Transactions – 12% to 22%

5. Operations Management – 15% to 25%

4. Federal Taxation of Individuals – 15% to 25% 5. Federal Taxation of Entities – 28% to 38%

FAR SECTION The FAR section of the CPA Exam is heavily focused on financial accounting and reporting of for-profit entities. You will also have questions that cover accounting for not-for-profit entities, and approximately one out of every 10 questions will cover accounting for governmental entities. The section’s five testlets are broken into two, with 33 MCQs apiece (66 total) and three with a total of eight TBSs. In general, 50% of your score comes from MCQs and 50% from TBSs. For topics and weighting, here’s how the AICPA breaks down the FAR section of the CPA Exam: 1. Conceptual Framework, Standard-Setting & Financial Reporting – 25% to 35% 2. Select Financial Statement Accounts – 30% to 40% 3. Select Transactions – 20% to 30%

This article was contributed by Wiley Efficient Learning. Find the company at www.efficientlearning.com. You can also find information on the four sections of the exam at https://www.aicpa. org/becomeacpa/cpaexam/examinationcontent.html.

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Wiley's CPA Review Courses provide you adaptive and customized study to ensure YOU pass the exam the first time - just like 90% of our students.

4. State & Local Governments – 5% to 15%

REG SECTION The REG section of the CPA Exam is heavily focused on taxation. Its five testlets are broken into two testlets with 76 MCQs between them and another 8 TBSs split among the remaining three testlets. Like AUD and FAR, 50% of your score

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CPA2b Spring 2021 | wicpa.org

www.efficientlearning.com/wicpa

FREQUENTLY ASKED QUESTIONS What are “pretest” questions, and do they count toward my score?

Testlets contain operational and pretest questions. Operational questions are scored, while pretest questions are not. Each section of the CPA Exam includes 12 pretest MCQs and one pretest TBS. BEC also includes one pretest written communication task. Pretest questions are indistinguishable from operational questions and may be used as operational questions on future examinations.

While pretest questions are not labeled and do not count toward your score, you should complete all questions as if they do.

Which part of the CPA Exam should I take first?

This is one of the most common questions CPA candidates have when deciding to register for the exam. The answer differs by individual and by how the exam content can change in January or July. For example, in 2018 it was a popular strategy to take the REG section of the CPA Exam first, as so much of it was going to change on Jan. 1, 2019.

So consider how much content you’ll need to learn when deciding in which order to take the CPA Exam. In general, when considering which part of the CPA Exam to take first, most people choose to do FAR or AUD as their #1 or #2 choices.

What is the easiest part of the CPA Exam?

The easiest part of the CPA Exam is BEC, based on the pass rates being the highest of the four sections of CPA Exam. Enrollments in the BEC are lower than the other section, and that is probably because many choose to take BEC last. So, those who are still passing the other three sections are not sitting for BEC. If this is true, then it could be true that the smaller number of exam takers enrolling in BEC have already proven themselves to be exam passers.

What is the hardest part of the CPA Exam?

The hardest part of the CPA Exam is FAR. Overall, the FAR section requires you to tackle and master a HUGE amount of information and concepts, far more than REG or BEC, so many elect to tackle it first rather than last. The old adage of “get the hard part out of the way” absolutely applies to the CPA Exam, as most people choose to take FAR as their first section of the CPA Exam. Fewer candidates elect to take AUD first, thinking it is harder than FAR.

When does my 18-month window to pass begin?

You may take each section of the CPA Exam individually and in any order, but you are required to pass all four sections within 18 months. The clock starts on the date you pass your first exam section. Credit for any section passed is valid for 18 months from the date the section was taken. You will lose credit for each section passed outside the 18-month period, and you will have to retake that section(s).

CPA2b Spring 2021 | wicpa.org

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informed | CPA journeys

MY PATHWAY TO CPA

By Eric Buss, CPA

M

y path to becoming a CPA started in high school when I took two accounting courses.

At that time I did not know if I wanted to be an accountant, but I knew I wanted to go to business school. I attended Marquette University in Milwaukee, and there my affinity for accounting grew. After my freshman year, I decided to pursue accounting as my only major and forego double majoring, as I did not have a high enough interest in another field. Because I took a semester off during my senior year so I could do a full-time internship at Wipfli LLP, I needed to take classes during the following summer and fall in order to obtain my bachelor’s degree. After my fall semester, I needed only 10 or so credits to attain my 150 hours, so I took those during the spring while I studied for the CPA Exam. Some of these classes involved master’slevel courses, which really helped me prepare for the exam and build on my communication skills.

My biggest piece of advice for taking the CPA Exam is to make sure you have a plan and that you stick to it. Set a goal for yourself, and be strict about your regimen. My start date for my Wipfli full-time position was in June, and I started studying for the exam in January, with my personal goal to finish all four parts before I started working. I laid out a schedule for each

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“

My biggest piece of advice for taking the CPA Exam is to make sure you have a plan and that you stick to it.” exam section, including signing up for the sections so that I knew I would have to be prepared for that date, and I would not be able to push it back. For each exam section, I studied between 80 and 120 hours. This includes (but is not limited to) the following: practice quizzes and exams, video lessons, highlighting review books and making flashcards. Everyone studies and learns differently, so how you can get things done and be effective is really a personal preference.

Going into the first exam section, it is natural to be nervous — in fact, that is probably a good thing! During that first section, you will get the lay of the land, and

it will be much more relaxing the next few times you go. I found that after finishing that first section, I was much more comfortable with the room itself, the process of checking in and the concept of how much time is allowed for each section. Although the process of taking each section separately is exhausting and time consuming, getting the notification when you have passed a section is really satisfying. All the hard work is worth it, as the CPA certification is respected throughout the business world and will enhance your career in many ways.

After completing the CPA Exam, I started my fulltime position at Wipfli, where I still work today. My first few years, I got experience in both audit and tax work, which enhanced my communication skills and allowed me to choose which fit was the correct one for my personality. Ultimately, I chose the tax service line after about a year and a half, and my journey in that world began. Since then I have been able to do several things, including research and development credit work, compliance work in many different industries and various firmwide tax initiatives. In addition to my tax compliance work, I also have the opportunity to be a college recruiter at many of the universities in the Milwaukee area, be a performance coach (supervisor) to our interns each spring and represent the Tax Department for scheduling in the Milwaukee office.

I have found that these areas of my job are the most rewarding, and they often are the roles that enhance my skills so that I can be a better communicator to my clients and teammates.

The best part of my job is that every day is different from the last. Although that can sometimes result in more stress, I find that it keeps me on my toes and allows me to be extremely engaged in the work that I am doing. When a client asks a question at the start of a day, it sometimes results in having to delay what I had expected to do that day and completely flip around my schedule, as the new task takes precedence. I believe that our clients truly value us as

“

The best part of my job is that every day is different from the last. Although that can sometimes result in more stress, I find that it keeps me on my toes and allows me to be extremely engaged in the work that I am doing.”

their trusted business advisors, so it makes it easier to get a project done for them timely.

The other part of my job that I truly value is the teammates I get to work with each day. The level of expertise and experience that other people within the firm have is truly invaluable. Any time I need a question answered or a problem solved, I have someone’s brain to pick about how to do it.

I also value the flexibility that public accounting offers. Although we have our busy time of year, we also have a decent amount of downtime, and we are allowed flexibility to work from home (especially since the pandemic) and schedule our day the way we want to. I think this provides us with a true sense of work-life balance in public accounting.

Eric D. Buss, CPA, is a tax manager at Wipfli LLP, Milwaukee, where he specializes in commercial real estate and is an active recruiter on college campuses. Contact him at ebuss@wipfli.com.

CPA2b Spring 2021 | wicpa.org

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informed | CPA journeys

MY PATHWAY TO CPA

By Brenna Van Rooy, CPA

E

ver since I can remember, I have been a riskaverse person. I did not jump into a pool unless I could gauge the water temperature first. My wedding was planned entirely indoors because I did not want to risk any chance of poor weather ruining the day. I always have a plan and never take a chance on anything unless the odds are heavily in my favor.

So when it came time to decide what to do with my career path, I knew the safest option was something involving money.

Around my junior year of high school, I sought the advice of my favorite businessman: my Grandpa Lou. He has worked within the insurance, real estate and auto sales businesses for over 50 years and ultimately gave me the best advice I have received in my entire career thus far: “Major in accounting. If you decide you like finance better, you’ll still be able to get a job in finance. You won’t be able to get a job as an accountant with a finance major.”

For me, the CPA Exam wasn’t an option for me but a necessity. In my first meetings with my college advisor at St. Norbert College, we both assumed I was going to be on a CPA track, even when I didn’t know what the exam was. Luckily, I knew I wanted to major in accounting and minor in music, so I was

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CPA2b Spring 2021 | wicpa.org

going to be obtaining the 150-credit requirement for CPA licensure without needing to plan for it. I took an 18-credit class load every semester of college, including four academic classes counting toward my major or the general education requirements and between three and four music classes consisting of jazz band, wind ensemble, brass ensemble or private lessons.

Going back to the risk-averse theme of my life, I knew the safest first step to my career would be public accounting. It seemed like everyone I had talked to — those I worked with at my accounting internship at Schneider and my professor at St. Norbert — spoke highly of public accounting and how monumental their certification was in the success of their careers.

I understood the amount of dedication the career required and knew that public accounting would be the best step right out of college.

At my interview with the corporate accounting firm Grant Thornton, my future boss asked if I was interested in audit or tax. Unfortunately, with the way I had planned out my four-year college degree, I had not taken either class at that point. I naively answered, “Well, I like to talk, so I guess audit?” If you’re trying to decide between audit and tax and aren’t sure where to go, my best advice is to be upfront with your employer and

ensure there will be opportunities to switch service lines if you decide your initial decision isn’t what you hoped it would be.

Public accounting was the best decision I could have made right out of college for multiple reasons.

One benefit that is not heavily advertised is that you are surrounded by people in your age range who are also suffering their way through the four-part CPA Exam. My professors at St. Norbert were helpful in preparing me for the content of the exam, but as far as the logistics, their “back in my day” exam stories of pencils, paper and a large gymnasium over a weekend were a little outdated.

With the assistance of Becker CPA Review, I planned out every homework assignment and mock exam day by day so I would be able to get through all the study materials with a few weeks left over to review before exam day. The nice part about the schedule was that if something came up, I would just study longer on a different day to fit in the homework.

The not-so-nice part was that I failed two exam sections on the first try, and that put me right against the threshold of one of the exam sections expiring.

You have to take all four parts of the exam within an 18-month time period.

After failing the FAR and REG sections, I knew something needed to change with my study habits between my first and second attempts. The thing I changed was to physically write down (not type) any multiple-choice question I got wrong and the reason I got it wrong. I would go back through my notebook every night and reread every statement I had written.

This drastically improved my scores, and I later learned that many studies show that writing versus typing helps you better retain more information.

I truly didn’t understand the benefit my CPA credential provided me until I left public accounting and went to work full time for Schneider, where I had done my internship. My CPA credential showed

“

To work in public accounting, my CPA license was a requirement, but when I moved back to industry, I realized having that designation is a prestigious foundation above and beyond the standard.” them that I took my job role and future seriously and that I had put in effort above and beyond my college degree to get there. To work in public accounting, my CPA license was a requirement, but when I moved back to industry, I realized having that designation is a prestigious foundation above and beyond the standard.

I’m currently working at Schneider in the role of the Sarbanes-Oxley (SOX) compliance manager. I am the project manager for the SOX audit in our internal audit department, which includes monitoring over 150 key controls and our progress in testing them.

I’m thankful for the options my CPA license provides.

I can continue to move around in accounting, audit, tax, finance and a variety of other paths for the rest of my career — all because of those three letters behind my name.

Brenna Van Rooy, CPA, is a SOX compliance manager for Schneider, a national transportation and logistics company headquartered in Green Bay. Contact her at vanrooybrenna@gmail.com.

CPA2b Spring 2021 | wicpa.org

33

wise | career advice

Why You Need a

Mentor, Coach AND Sponsor Climbing the metaphorical “career ladder” isn’t always easy.

But there are people who can give you a boost along the way.

By Taylor Knopf

M

entors, coaches and sponsors can propel you upward in your career, each in different ways.

To find and benefit from these people, you must open yourself up to learning from those around you and seek out leaders in your field, according to Kimberly Ellison-Taylor, CPA, CGMA, an executive director at Oracle and former chair of the AICPA. “Everyone has a fair and equal opportunity to receive that kind of shared experience that someone is willing to give you,” she said.

Ellison-Taylor went on to explain the unique roles a mentor, a coach and a sponsor can play in your professional life.

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Mentors share their experiences Mentorship doesn’t have to be as difficult as it sounds. We all have valuable experiences that would be helpful to someone’s career journey. Conversations you have with such people could ideally lead to longterm professional relationships, with the ability to reach out when you encounter career stumbling blocks or want to seek advice.

“A mentor is just someone who is in a position of life experience that creates a shared value with you, because they’re willing to share their experience, their lessons, what they did and maybe even why they did it,” Ellison-Taylor said.

For example, before she took the CPA Exam, Ellison-Taylor solicited stories and experiences from people around her who had already taken it to learn how to best prepare.

In the broadest sense, she said, mentorship is like “crowdsourcing life experiences that you may or may not have.”

Coaches give hands-on direction Once you’ve gathered input and data from mentors around you, a coach helps you put it into action.

“They’re actually hands-on in helping you get through various stages of your journey,” EllisonTaylor said.

Let’s say you’re applying for your first job. You would want to find a coach who could review your résumé and prep you for the interview process.

Ideally, this might be someone in the same line of work you’re aiming for.

So while a mentor might share their experience getting a first job, a coach will give tactical guidance on questions that could be asked and even role-play the interview process, Ellison-Taylor explained.

Sponsors advocate for you A sponsor is someone who believes in your abilities and will put their own reputation on the line to promote you. When someone recommends you for a project or position, that is a sponsor.

They are lending you some of their “professional credibility,” Ellison-Taylor said.

“So that’s why it’s even harder to get a sponsor,” she said. “They are sharing their brand with you, and you have to take that very seriously because you are a reflection of them.”

Seeking a sponsor takes some time because you have to build trust with that person, she said.

Finding these key people to help you navigate your career path may take a little networking. There

“

It’s like being a plant that’s open to sunlight. And that’s exactly how I think of the many rewarding connections I am fortunate to have.”

— Kimberly Ellison-Taylor, CPA, CGMA

are several groups an aspiring CPA should look into, Ellison-Taylor said.

For those at the university level, there is Beta Alpha Psi, the international honor society for accounting. A range of professional associations have been created for historically underrepresented groups, such as the National Association of Black Accountants. Every state also has a professional society that can be helpful in finding other finance professionals in your area. And the AICPA offers a free student membership as well as opportunities to attend conferences and meet others in the profession. [You can also join the Wisconsin Institute of CPAs for career assistance and networking.]

Ellison-Taylor encourages young professionals to open themselves up to learning from the people around them — even if they are different from them.

“It’s like being a plant that’s open to sunlight,” she said. “And that’s exactly how I think of the many rewarding connections I am fortunate to have.”

Taylor Knopf is a freelance writer based in North Carolina.

The article is reprinted from www.thiswaytocpa.com with permission from the AICPA.

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aware | transition tips

FROM

COLLEGE

TO

CAREER 36

CPA2b Spring 2021 | wicpa.org

The transition from college student to full-time employee can sometimes be stressful, but it doesn’t have to be.

B

eing a college student was fun for me. I knew what I was doing every hour of the day, I could eat whenever I got hungry, and if I had a late night and didn’t feel upbeat enough to go to class? I just didn’t.

By Tramaine Robinson

Transitioning into the real world can be difficult, as you’re faced with the reality of work deadlines, regular mealtimes — and less freedom to take a day off because you were up late watching the game last night. But it doesn’t have to make you cringe. Here are some tips for making this transition easier.

1. Buy a planner — and USE IT A lot of the time when first starting a job, you’re confused about what to work on first and what’s most or least important. Use this planner daily to write down what you want to complete by lunch and by the end of the day.

2. Communicate with your manager Be very diligent on communicating your agenda to your manager or supervisor. Make an effective effort to communicate to your manager your daily list of what you hope to get done. The manager will

“

Be sure to do something that takes your mind off work, something that brings a little light and joy to yourself.” tell you what you should focus on right away and what can wait, giving you a better sense of direction for the work you’re doing while staying on track with deadlines.

3. Make use of your lunch break — you only get one Your lunch break is essentially a reset before the last hours of your workday. Be sure to do something that takes your mind off work, something that brings a little light and joy to yourself. For some that might be a short phone call to a significant other; for others it might be something as simple as reading the daily newspaper. Personally, I always make an effort to take a walk outside when the weather permits, as being outdoors not only allows me to clear my mind; it also gives me peace of mind and allows me to reset.

CPA2b Spring 2021 | wicpa.org

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aware | transition tips

4. Treat Fridays like Mondays Friday is one of the few days when there’s a relief energy that spreads throughout the office.

Everyone’s excited and discussing their plans for the weekend, and some coworkers may leave early that day. More than anything, the final hours are harder to work on Friday than any other day, as you’re eyeing the weekend. Be sure to take notes on where you left off on your current work assignments prior to leaving. Without doing this, you’ll find yourself out of place Monday morning as you scratch your head and try to determine where you actually left off and where to start. Treating Friday like a Monday will lead to a more productive Monday, enabling you to start off the work week strong.

5. If you take vacation time, make sure your work is done to date There’s nothing wrong with taking vacation days.

Sometimes you need that break to get away and do something adventurous. Be sure to not only be current on your work deadlines when you leave the office but also to have an automated response email if you’re out for an extended number of days.

Without doing these two things, you’ll come back to a countless list of emails — and upset managers who had to complete your work if there was a deadline you didn’t complete prior to leaving.

Communicating your vacation days and work agenda to your manager before leaving can prevent this from happening.

6. Be proud of yourself — you’re really doing it!

When starting your first job, you often dwell on the mistakes you make. For me personally, I could barely sleep at night when I messed up bad at work because I thought I’d be fired. But as a newbie, you’re expected to make mistakes — it’s all about learning from them. Whenever you fix these mistakes and learn from them, be sure to give yourself credit. It’s not easy admitting a mistake,

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“

Treating Friday like a Monday will lead to a more productive Monday, enabling you to start off the work week strong.” but if you did and you’ve since fixed it, you deserve credit for that.

The transition from college to career doesn’t have to freak you out if you take the advice described above.

Tramaine Robinson is a financial analyst for Kohl’s Corporation in Menomonee Falls. He earned his accounting degree from the University of Wisconsin–Milwaukee. Contact him at tramainerobinson45@yahoo.com.

Interested?

Contact Marcia Tillett-Zinzow, editor, at mtzinzow@icloud.com.

CPA2b Spring 2021 | wicpa.org

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SPOTLIGHT START YOUR JOB SEARCH HERE! FEATURED FIRMS

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SVA prides itself on our ability to meet our clients’ needs and deliver Measurable Results TM. Specializing in serving closely held companies, the expertise of our team members spans the areas of business consulting, tax, accounting and audit in a diverse set of industries. SVA is committed to remaining independent and privately held, making us a sought-after firm with continued growth opportunities.

www.wipfli.com Tori Spencer, Talent Acquisition Specialist vspencer@wipfli.com Wipfli ranks in the top 20 accounting and business consulting firms in the nation. With offices across Wisconsin, Arizona, California, Colorado, Georgia, Idaho, Illinois, Maine, Minnesota, Montana, New Hampshire, Pennsylvania, Utah, Virginia, Washington as well as offices in India and the Philippines, Wipfli professionals provide industry-focused assurance, accounting, tax and consulting services. We set ourselves apart by making significant investments in our associates to develop their knowledge in specific industry expertise to better serve clients and become trusted business advisors!

IF YOUR FIRM WOULD LIKE TO BE LISTED IN THE FIRM SPOTLIGHT, PLEASE CONTACT SUE DANIELS AT 800-772-6939 EXT.CPA2b 4516 ORSpring SUE@WICPA.ORG. 2021 | wicpa.org

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