COCPA NewsAccount - Spring 2024

Features Contents

4 Embracing a New Mindset: Learning to Market Your Value

Interested in taking your firm to the next level but feeling bound by historical firm structures or professional stereotypes? It’s time to take a new approach to marketing yourself. Two COCPA members recount their experiences and share lessons learned.

8 COCPA Members PAC the House in Support of the Accounting Profession

On Jan. 25, COCPA members joined Society President and CEO Alicia Gelinas, CPA, at the inaugural PAC the House event, a visit to the Colorado State Capitol to meet with legislators from both political parties on behalf of the accounting profession.

10 Courage, Confidence, and Character: All I Really Need to Know I Learned in Girl Scouts

Three COCPA members share how being a Girl Scout influenced them personally and professionally, and why they’re giving back by serving on the Girls Scouts of Colorado Board of Directors.

20 Automation Paralysis: Where to Begin

22

Looking

for Your Superpowers? Mindfulness Practices Will Help You Find Them

Automation is often pitched as a solution to the profession’s talent shortage. The real question is where to start the automation journey and how to take those first steps.

No matter your professional sector, we can all relate to feelings of overwhelm and exhaustion during crunch time. Author Adrianne Eager offers strategies and techniques to feel more relaxed, centered, and grounded during busy times.

NEWSACCOUNT CHAIR COLUMN

Thank You for the Privilege of Serving

BY DIEGO J. BACA, CPA, CHAIR

As I’m sure most past COCPA chairs would agree, our year as Board chair goes by in the blink of an eye. Fortunately, my involvement with the board will continue as immediate past chair, and I’m looking forward to the passionate and strategic leadership that our next chair, Toby Clary, will bring to the table.

I recently took some time to reflect on everything that I’ve learned about the COCPA, our membership, our profession, and myself.

THE ORGANIZATION

When Alicia Gelinas took over as CEO from Mary Medley in 2022, she stepped into some very big shoes. I worked with Alicia years ago when I was a young staffer at EY and she was a manager, so I knew that she would bring a lot of positives to the CEO role. I don’t know that I have met anyone who is more passionate, knowledgeable, and articulate when it comes to representing the profession. Traveling with Alicia during the Better Together Tour late last summer and hearing her amazing ideas solidified my view that the COCPA is in very good hands. I encourage you to talk with Alicia and listen to her vision for the COCPA and why she is so passionate about the profession. You’ll be inspired, excited, and proud to be part of our profession.

Last November, Alicia wrote an important letter to one of our key stakeholders, the Colorado State Board of Accountancy. (To read the letter, visit cocpa.org/Pipeline-Challenges-Letter.)

Alicia put tremendous thought and research into her response, and in a world where one’s personal opinions can drive an agenda, it was refreshing to read her balanced and informative viewpoint. Her exemplary leadership showed through in her response. I

was proud of Alicia and proud to be a COCPA member.

I’ve not seen a more helpful and willing group of professionals than our COCPA team. I’m struck by just how passionate the whole group is about supporting our membership, working on several projects at once, dedicating long hours, and making personal sacrifices to ensure that members receive what they need. This year, I watched new CFO Josh An take the reins, and witnessed the growth of our new Director of Operations, Lindsay Moore. To see the hustle of people like Derrol Moorhead, Tiffany Carson, and all the other wonderful COCPA employees makes me appreciate the hard work that they put in every day.

OUR MEMBERS

This year, I met many of you, some for the first time, and had the opportunity to hear your stories. During the Better Together Tour, the discussions and feedback on the issues facing our members provided me with new insight.

I live in a Big 4 audit bubble, and while I love it in here, it was refreshing to get out and meet those of you who have your own practice, practice at a small firm, or are in education. I was reminded that despite our diverse backgrounds, we share the same passion for the profession. I learned so many lessons, and I thank you for helping me to become a leader with a higher awareness of the many different issues that we all face.

My reflections on this past year remind me how important it is to hear differing viewpoints. I learned something new at every COCPA Board meeting.

A visit to the Colorado State University campus provided one of my most vivid memories. A member shared her career journey: returning to school as a non-traditional student to earn her 150 credit hours and sit for the CPA exam. I asked why she decided to come back and continue her journey to CPA licensure. She replied, “I wanted to have a seat at the table.”

She had observed that CPAs were respected, valued, and held in higher esteem than other professionals, and that CPAs influence their organizations and drive organizational change. Her comments renewed my own appreciation for the profession and my role. I’ve been blessed to have a career where I’ve been at the table – figuratively and literally – from a fairly young age and with some of the smartest and brightest financial minds that our world has to offer. We all have unique stories and inspiring paths, which we’ll continue to share through the See Me Series and other COCPA initiatives. Listening to longtime CPAs discuss what the designation has meant to them and how that meaning hasn’t changed over the years affirms my view that this profession is special.

I ask each of you to find one simple way to get more involved with the COCPA this year. Whether it’s joining a committee; speaking on a technical topic; helping young, aspiring accountants navigate their own path; or just popping into the office to hang out, we need your influence now more than ever!

THE PROFESSION

I’ve talked a lot about how being a CPA changed my life for the better and how important and relevant our profession remains today. While there are a lot of potential changes happening that could significantly impact our profession, your voice is key to helping us get to the right place.

Our profession is unique in that 1) we’re trusted more than most, and 2) we are united. Let’s keep both of those legacies going in 2024 and beyond. Our communities need fiscally responsible leaders now more

than ever. Hopefully we can look back at this time and be grateful for the actions that we took to make our profession more accessible and appealing to future generations.

“SO, WHAT DID YOU LEARN?”

Tom Buchman, one of my accounting professors at the University of Colorado, always asked a question that I still hear every time I reflect on a subject. “So, what did you learn?”

The first thing I learned is that being chair of the COCPA is a job that you’ll never feel you fully completed! I also learned about the tremendous range of resources that the COCPA provides its members. However, many of these resources go untapped by the membership. I encourage you to get more involved in the Society and learn about all that is available to you. This organization is dedicated to the entire spectrum of accounting professionals that make up its membership: from sole practitioners to the Big 4 to corporate accountants and to those in the government, education, and nonprofit realms. There are resources and benefits for all, right at our fingertips.

My reflections on this past year remind me how important it is to hear differing viewpoints. I learned something new at every COCPA Board meeting. Whether information was coming from an academic or small firm leader or a corporate accountant, all of the different insights helped me to grow and realize how much more learning I have ahead of me. These are all great lessons that transfer very easily into my role at EY.

THANK YOU

So, thank you for this incredible opportunity. I never thought that my story would include an opportunity like this. Thinking about all the incredible past chairs of this Board, and now being able to say that I’m a past chair myself, is humbling. I’m proud of my year spent helping the organization feel confident in being innovative, thinking differently about how we do things, and being an advocate for organizational change. I hope that if we crossed paths, or you heard or read anything from me during the year, you were inspired. My goal every day is to personally and positively impact those around me in any way that I can. I’ll never forget this opportunity, and I’m looking forward to what’s in store for 2024 and beyond!

Contact Diego J. Baca at Diego.baca@ey.com

The views reflected in this article are the views of the author and do not necessarily reflect the views of Ernst & Young LLP or other members of the global EY organization.

BY NATALIE ROONEY

Interested in taking your firm to the next level but feeling bound by historical firm structures or professional stereotypes? It’s time to take a new approach to marketing yourself.

When Kelly Johnston, CPA, EA, MSA, founded JFS Consulting in 2016, she initially provided bookkeeping services. Today, her Grand Junction firm provides a full range of accounting services with 14 team members in eight states and three countries, often serving as interim CFOs and consulting strategists for health care and construction organizations.

While Johnston is excited about where the firm is now, she says the evolution into a workable and profitable model was painful. She launched using a traditional hourly billing model, but things quickly spiraled out of control. Client work continually expanded beyond the original scope, eating away her profit margins. At one point, Johnston was so busy that she slept on the floor of her office.

Johnston also found herself apologizing to clients for billing them outside the original scope of work. “Why did I feel guilty?” she reflects. “I did the work they asked me to do. That’s when I realized strictly using hourly billing wasn’t going to work, and that I had to change my mindset.”

At RoseCap Tax and Accounting in Grand Junction, principal Nancy Harward, CPA, has also been taking a hard look at the firm’s services and billing structure and wondering if there could be a better way to not only serve clients but also increase revenue.

Harward spent 13 years at a large regional firm prior to joining RoseCap, so she’s no stranger to the hourly billing format,

which she says presents a conundrum: the faster you get, the less money you make. “I feel like hourly billing puts quality on the back burner as well,” she says.

Harward says breaking free from hourly billing is a challenge –not just for accountants, but for clients. “You give clients a cost for filing their return, and you think you know what it’s going to take,” she says. “But then they come in with a box of receipts and want you to add it up. I’ve given them a fixed price based on an earlier review, and now it’s going to blow me out of the water because of all the extra hours required. What do you do about it?”

Traditionally, accountants have just absorbed the extra time, leaving revenue on the table, but Harward and Johnston both say it doesn’t have to be that way.

DEMONSTRATING YOUR VALUE

Harward realized that clients weren’t making a connection between the value she was providing and the prices they paid when a client commented that he could get the same results from using H&R Block. “They don’t understand the extent of our work and how much goes into it,” she says. “As CPAs, we’re just not great at selling ourselves and letting people know what we do.”

Johnston has a theory about why it’s so hard for accountants to market themselves. “We’ve always undervalued ourselves,” she observes. “We’re the smartest, dumbest people in the room. We’re smart and have the most to offer, but we don’t know how to communicate our value proposition, so we become a commodity item. Doctors and lawyers have no problem billing us, but accountants seem to have this apologetic, insecure attitude about billing. We’re out of alignment.”

Johnston says changing how you value your expertise isn’t about nickel and diming clients – far from it, in fact. “This is about articulating ourselves well enough to demonstrate our value and show that we deserve a seat on clients’ invisible board of directors. They need to recognize the value we offer. If they don’t, they’re not a good fit for our firm.”

As Johnston began examining how she could prove her value to her clients, she ran calculations to put a dollar figure on what she saved them. “Everything shifted when I realized how large those numbers were,” she says. The process reframed how she coached and talked to clients and ultimately, what, and how, she billed them. “I show them the savings they’re realizing from our work, and ask, ‘What would that be worth to you?’”

Johnston emphasizes that she does have a price list and knows her breakeven and average hours per project, but her mission is to get to the real heart of a client’s story first. “Their rationale for contacting us always begins with superficial reasons,” she says. “But as you talk to them, you get to the root cause of their issue. When you demonstrate how you can address those root causes, money becomes less of an issue. I describe how JFS is a good fit and how we’ll help them. I ask their budget to achieve their goals and the maximum price they’d pay. When they throw out a number, it’s always higher than where I would price it.”

Once you’ve had the financial discussion, you can move on to value-added services and pitch how you work, Johnston says. “Talking about money is the elephant in the room, but you’ve stopped the inevitable question about ‘how much this will cost me?’ It just goes out the window because you’ve addressed their pain points.”

MAKING DATA-BASED DECISIONS

Harward admits that it’s a mental struggle to move away from hourly billing. “A client comes in, you give them your price, and then I get nervous because I’m hoping they don’t freak out,” she says. “But I’ve decided I’m not going to discount myself.”

Harward says she doesn’t foresee never tracking time again. “What business doesn’t track their cost of goods sold?” she asks. “But as far as solely using hourly billing, it’s not the right answer. The time tracking just makes sure what you’re doing is worth it.”

The tracking continues to be helpful for ongoing analysis, generating good questions for discussion. Harward says she wants to know: Did we estimate two hours and it took eight? Did we receive garbage information from the client? Do I need to provide additional training? Can we push these administrative efforts somewhere else? Can we leverage technology to spend less time on menial tasks?

“These are all decisions I’m making based on tracking the data,” she explains.

In the wake of her analysis, Harward raised prices this year, and she can already tell she’ll need to raise them again next year. While there was some pushback, she says it was from clients whose returns were already priced well below the market rate. “Software, wages – everything has gone up. We had to raise our prices. We lost a few clients, but not many,” she says.

Going forward, if a client’s return isn’t within the scope of what was provided, Harward says she’ll address it. She foresees offering a hybrid pricing model going forward: one rate for a return and packages that include additional consulting services. “We have to train clients to be where we need them to be,” she says.

MAKING THE LEAP

Hiring a business coach was one of the first steps in Johnston’s effort to get off the merry-go-round that made up her early days of operation. “He showed me that I was creating my own problem,” she reflects. “He coached me on how to talk to clients.”

Her coach had her create a “crush or cringe” list of clients. When you look at a client’s name, do you love working with them, or do they make you cringe? Johnston’s cringe list would serve as the experimental group. “If we lost them, it wouldn’t hurt us, so we started there,” she explains.

JFS raised its prices and didn’t lose anyone. Prices were raised again. “You have to be willing to lose some clients,” Johnston says. “CPAs have a scarcity mindset, but we’re in a market to be picky, so why are we afraid that we’ll offend people with our pricing? That mindset trains clients to treat us poorly.”

CONTINUED FROM PAGE 5

“

This is about articulating ourselves well enough to demonstrate our value and show that we deserve a seat on clients’ invisible board of directors. They need to recognize the value we offer. If they don’t, they’re not a good fit for our firm."

– Kelly Johnston, CPA, EA, MSA

Harward and Johnston offer some additional tips for changing your mindset.

ESTABLISH A SUPPORT SYSTEM

Harward has a network of colleagues with whom to exchange ideas and get feedback. What’s working for others? What isn’t?

RELY ON EXPERTS

Both Harward and Johnston use business consultants –who are outside the accounting profession – to evolve their practices. “There are other business models out there,” Harward says. “It’s great to get a different perspective.”

Johnston meets weekly with her business coach, who has helped her with pricing and big-picture decisions. Beyond her business coach, Johnston has several different coaching teams. She engaged a sales coach, whom she credits with helping her “crack the code” of messaging. She hired another coach dedicated to coaching her staff.

CONTINUE TO LEARN

Seek knowledge beyond traditional CPE. Whether it’s taking a sales class, reading books on value-based pricing, or searching for articles on LinkedIn, there are a lot of great resources available.

CONNECT WITH AN ACCOUNTABILITY PARTNER

As you learn to sell yourself and your value, test your sales pitch out on a buddy, Johnston suggests. “Even your emails are a sales pitch, but people don’t look at it that way. Every piece of communication is important,” she says.

CONTINUE YOUR PERSONAL DEVELOPMENT

Johnston takes personal development training from several different organizations. “I took the advice from those groups, and it put the world together for me,” she says.

START WHERE YOU’RE COMFORTABLE

Perhaps don’t rock the boat with your legacy clients at the start, but formulate your upgraded pricing policy with new clients, stick with it, and transition people over to your new business model.

COMMUNICATE FOR SUCCESS

New JFS clients go through an onboarding process that covers how the firm works and communicates. “This sets the context of their investment in you and requires them to put some skin in the game,” Johnston explains.

THE FUTURE OF THE PROFESSION IS IN THE PERCEPTION

Johnston says while her transformative years were painful, it was worth it. Not only has the firm grown, but now she can also see the long game, and it’s the future of the profession.

“I often seek the answer to what’s wrong with the profession, and part of that is the lack of communication and burnout that we create and are known for,” Johnston says. “Will we have a profession if we’re not careful? The answers are in how we’re valued – by our clients and by future CPAs. What we bring to the table is worth it. We need to get out there and demonstrate that.”

and more!

COCPA Members PAC the House in Support of the Accounting Profession

On Jan. 25, COCPA members joined Society President and CEO Alicia Gelinas, CPA, at the inaugural PAC the House event, a visit to the Colorado State Capitol to meet with legislators from both political parties on behalf of the accounting profession.

In addition to Gelinas and executive assistant Stephanie Bass, Vice Chair/Chair-Elect Tobias Clary joined fellow Society members Pamela Feely, Tyler Linnebur, and Barbara Ogg in meeting with Sens. Barbara Kirkmeyer and Kyle Mullica, Rep. Marc Snyder, and others. The goal was to influence and inform on policy matters that support a positive legislative environment for the accounting profession, along with clients, employers, businesses, and other stakeholders.

Linnebur, who is an assurance senior with CliftonLarsonAllen in Greenwood Village, notes the importance of involving oneself in advocacy efforts on behalf of the profession.

“It’s important to get involved for a couple of reasons. Not only is it important to have a voice on policies that impact our lines of business, from burdensome regulations, taxes, and licensing requirements to potential avenues created for new assurance, tax, or consulting avenues; it’s also important to utilize our expertise in finance, accounting, and economics to improve legislation for our communities as a whole. Most legislators lack our background; our involvement provides them with an invaluable resource," he says.

Linnebur enjoyed learning about the Society’s work with a lobbying firm to track legislative activity and advocate accordingly.

As the day unfolded, when listening to public testimony during a Business Affairs and Labor Committee hearing, he was struck by the degree to which legislative decisions can affect lives. The testimony “brought our group to tears,” he says. “We went in thinking we’d hear about taxes but left moved by a trade issue with life-altering impacts.”

The COCPA is currently monitoring the status of several bills as the 2024 Colorado legislative session continues. To learn more about its advocacy efforts or to become involved, visit cocpa.org/advocacy.

As a non-partisan advocate for the accounting profession, the Society focuses its advocacy efforts by providing information on the administration and implementation of proposed and enacted legislation. You can help advance these efforts – and help the Society support candidates who promote a positive legislative environment – by donating to CPA-PAC, the CPA Political Action Committee. To donate, visit cocpa.org/ Support-the-PAC.

LEARN MORE & SHOW YOUR SUPPORT

THE TIME TO BUILD YOUR LEADERSHIP SKILLS and invest in your team is more crucial than ever.

PAVE THE WAY TO YOUR PROFESSIONAL AND PERSONAL GOALS.

Emerging professional? Looking to take a leap in your career? Learn how to interact with, lead, and manage others while networking with your colleagues. We encourage young professionals to be sponsored by their employer, or if you are in the position to sponsor a colleague, take advantage of this incredible opportunity for growth.

$1,499 for COCPA Members

$1,799 for Non-members

Delivered over two half days and two full days from June to November, this program will challenge you to step up and become the leader you and your team deserve.

Session Dates

JUNE 19

Welcome Event/Rockies Game

JUNE 20

Day 1 - COCPA Education Center

AUGUST 16

Day 2 - Online

OCTOBER 4

Day 3 - Online

NOVEMBER 4

Graduation

COCPA Education Center

Courage, Confidence, and Character: All I Really Need to Know I Learned in Girl Scouts

BY NATALIE ROONEY

Girls Scouts of America has shaped the lives of millions of girls and women who learn to live by the organization’s tenets: Courage, Confidence, and Character. Three COCPA members share how being a Girl Scout influenced them, both personally and professionally, and why they’re giving back by serving on the Girls Scouts of Colorado Board of Directors.

Angela Roberts, CPA, managing director of Aclivity and COCPA immediate past chair, says that some of her best childhood memories center around Girl Scouts of America. A third-generation Girl Scout, she says members of her local troop grew up supporting each other, and she remains dear friends with many of them to this day.

“I love everything about being a Girl Scout,” Roberts says. She describes summers spent earning badges and going to camp. And of course, there was Girl Scout cookie season. “Girl Scouts really does teach you the confidence that you can do anything.”

Cookie sales, attending Anderson Camp near Sweetwater, Colo., and even taking trips to Disneyland and Washington, D.C., are all special Girl Scouts memories for Crystal Eustis, CPA, an audit partner with Plante Moran. “We had an amazing troop leader who did so much for us,” she recalls.

Megan Flori King, CPA, a partner in Deloitte’s Audit and Assurance Services practice, says she enjoyed the camaraderie of Girl Scouts. “Our Girl Scouts of Colorado CEO refers to her troop as her girl tribe, which is so true of the sense of community it provides,” she says. “I was able to learn skills that you don’t experience just from going to school, which really differentiated Girl Scouts from other groups.”

While Flori King says Girl Scouts has modernized over the years to incorporate STEM and other new programs, what hasn’t changed is the emphasis on outdoor experiences. “My family didn’t go camp-

ing or horseback riding. I wouldn’t have done those things if not for Girl Scouts.”

In Colorado, with support from paid staff, roughly 5,000 volunteers team with more than 16,000 girls to plan, lead, and execute events and programming. The focus on girls leading is one of the things that Roberts loves most about the organization. “I love that Girl Scouts is girl/women led,” she says. “The girls themselves lead and run the camps.”

She became a volunteer troop co-leader during her daughter’s Girl Scout years, following in her grandmother’s and mother’s footsteps.

SKILLS FOR LIFE

When Roberts thinks back to what Girl Scouts taught her, teamwork is tops. “Two can go further than one, and three or four can go even further, whether it’s setting up camp, organizing a trip, or working on a project.” She also praises the confidence and spirit of volunteering that being a Girl Scout instills.

Eustis says that Girls Scouts is a great leadership training ground. “Girls supporting girls leads to women supporting women,” she says. “An entrepreneurial spirit starts when you learn to sell cookies. The girls are learning how much things cost and how to set goals, forecast, plan, and execute.”

Other skills that Eustis says she learned as a Girl Scout include thinking on her feet and the importance of overcoming fears and trying new things. “All of those things apply to serving on the board today,” she adds. “I’ve truly enjoyed the opportunity to learn new skills in the board room.”

Flori King remembers how she prepared for the annual cookie sale. “We learned basic skills, how to talk to people, the math of how much someone owed for the cookies, and then making change. It seems small, but that really resonated with me,” she says.

“Girl Scouts always reminds me of the importance of community,” Flori King continues. “We win or lose together. It’s important to build that camaraderie because no one succeeds alone. We succeed with a support system around us.”

FROM BADGES TO BOARD MEMBERS

After her daughter had concluded her time as a Girl Scout, Roberts knew she wanted to go back to Girl Scouts one day in some capacity,

Angela Roberts, right, joins Gill Clay, granddaughter of Lord Robert Baden-Powell, who with his sister Agnes founded the Girl Guide/Girl Scout movement.

“We win or lose together. It’s important to build that camaraderie because no one succeeds alone. We succeed with a support system around us.”

– Megan Flori King, CPA

either as a troop or camp leader. When she was approached to mentor Gold Award Girl Scouts, she jumped at the opportunity to support and encourage girls working toward their Gold Award status. Her path to the Girl Scouts of Colorado Board of Directors began when a colleague, who was already on the board, approached Roberts. “They needed someone to speak to the board about finance and accounting issues,” she recalls. “Then they asked me to serve on the board.”

After a year on the board, Roberts became treasurer.

DID YOU KNOW:

One of Eustis’ focuses at Plante Moran is women’s and DEI initiatives. “I’ve always had a passion for connecting and supporting women,” she says. “When the Girl Scouts Board opportunity came up, I saw it as a way to give back to girls and women outside of the office and throughout the state.”

As the current audit committee chair, Eustis oversees financial accountability, transparency, and organizational compliance. “It’s risk management to ensure that we use our resources effectively to further our mission,” she says. She also liaises with the organization’s auditors.

Eustis says that in addition to being personally rewarding, serving on the Girl Scouts Board has provided her with professional growth through connections that she’s established with businesswomen from around Colorado. In her Girl Scouts role, she sits on the oppo-

Colorado is Home to the Nation’s First Girl Scout DreamLab

In spring 2023, Girl Scouts of Colorado was the first council in the nation to open a center devoted to and designed by Girl Scouts. The 4,000-square-foot facility, known as the Girl Scout DreamLab, is in Denver's Lowry neighborhood, and its opening was highlighted by Gov. Jared Polis, who declared the day "Girl Scout Dream Day."

The goal of the DreamLab is to provide greater access to Girl Scouts and attract more young people to the organization with features like a STEM lab, bouldering wall, podcast booth, and indoor camping area.

“Part of the effort is to connect with girls who are less likely to go camping or have the traditional Girl Scouts experience,”

says Crystal Eustis, CPA, an audit partner with Plante Moran who serves on the Girls Scouts of Colorado Board of Directors.

The center also plans to host monthly family fun days in addition to regular programming. A recent “Mom and Me Swiftie Party,” celebrating Taylor Swift’s birthday, was a big draw.

Girl Scouts of Colorado worked with the national council to launch the DreamLab.

“We are thrilled that we have the financial stability to be the first council to open DreamLab doors,” Eustis says.

The project is serving as a template for other DreamLabs around the country.

Girl Scouts of Colorado Board members Crystal Eustis, Megan Flori King, and Angela Roberts join COO Donnell Heistand, third from left, around the campfire in the Girl Scouts DreamLab, the first of its kind nationwide.

CONTINUED FROM PAGE 11

site side of the table than where her professional life usually puts her. “It provides me with a different perspective, which helps me be a better service provider to my clients,” she says.

Flori King’s route to the board was through an audit client who reached out looking for volunteers. “Of course, we want to make sure the financial statements and tax information on file are accurate and portray the true story of the organization, but it’s more than that,” she explains of her role. “We want to be smart with the money, ensure that investments make sense, and eliminate risks so the money benefits the girls.”

Each CPA says she enjoys using her skills to bring ethics, transparency, and trust to the board table along with stewardship over the organization’s financial health. “We are advisors to the board of directors on financial matters to support informed decision making,” Eustis says.

CPAS SERVING OTHERS

Serving on a nonprofit board is a great way for CPAs to give back. “It’s a skill that nonprofit boards need,” Eustis says. “I add value by providing accounting advice to the whole organization. It’s a great way for CPAs to get involved in the community and to contribute to personally meaningful organizations. Serving on the Girl Scouts Board has been a gratifying experience.”

“I knew my Girl Scouts Board experience would be rewarding, but it has been much more so than I ever thought,” says Flori King. “With all the bad news in the world today, it’s refreshing and inspiring to go to the annual banquet and hear about what these amazing girls and women are doing to make a difference.”

“It’s an organization that means a lot to me in that it’s empowering girls, giving them a community and support system outside of what they have at home, school, or other places,” Flori King explains. “As I look at how Girl Scouts has modernized over the years, it’s giving girls such an amazing confidence and skill set that they won’t get elsewhere.”

Roberts says that success isn’t always found on a financial statement. “It’s in the experience, lessons, and impact that you make, whatever your passion is,” she says. “Our goal as an organization is to give every girl the opportunity to go to camp or be a part of Girl Scouts, because there’s a difference between the girls who have these opportunities and those who don’t. We’re building courage, confidence, and character. It’s so much more than just the cookies.”

Roberts identifies her two biggest passions as Girl Scouts and her profession. “I’m lucky enough to be on the boards for both Girl Scouts and the COCPA, and to make an impact on what’s near and dear to me.”

AEffective Board Service Yields Strong Organizational Results

BY KEELY GOHL, CPA, CMGA

longside the honor that comes with serving on a nonprofit board of directors comes the commitment to clearly understanding the responsibilities and potential pitfalls of the role. Taking the time to discern these elements, paired with a strong relationship between the organization’s board and its management team, provides the best odds for a successful and effective tenure.

Individuals choose to serve on nonprofit boards for many reasons. Perhaps it’s a deep passion for the organization’s mission or a desire to use one’s particular skill set or areas of expertise. Regardless of motivation, board service requires a duty of care.

The business judgment rule grants immunity to directors and officers if they act in good faith and with reasonable skill and prudence, but there are negative impacts to falling short in these areas. There have been legal cases where it was proven that board members did not adequately inform themselves, seek corroborative information, or explore alternatives, and as a result were found to be liable to the organization's shareholders.

Here are a few things that CPAs should know when considering a new board position.

STAKEHOLDER MANAGEMENT

Stakeholder management can be difficult and requires intentionality and care. The board has a role to play in ensuring that stakeholders are adequately defined and identified, then carefully managed, in partnership with the organization's management team. It’s important to remember that the board is responsible to all of an organization’s stakeholders. I once served on a charter school board that produced a document outlining all stakeholders. However, the document didn’t include the parents of the students. The students were too young to be involved in important tasks such as selecting schools and managing open enrollment processes. That’s where parents come in, and the omission of this important group led to the school completely ignoring the needs and wants of its actual target market.

Stakeholder management is complex and becoming increasingly so. Elon Musk’s purchase of Twitter, now known as X, is a recent example, as what was in the best interest of the shareholders differed from some of the platform users’ desires.

Alternatively, Anheuser-Busch CEO Brendan Whitworth recently commented, “For us, what we need to deeply understand and appreciate is the consumer and what they want, what they care about, and what they expect from big brands.”

THE TONE AT THE TOP

CPAs are familiar with the importance of the tone at the top and the role that it plays in internal controls and fraud mitigation. An organization’s controls cannot be a “do as I say, not as I do” proposition. The board is responsible for setting and maintaining this tone, in partnership with leadership. If the board adheres to the organization’s policies and is seen enforcing them, it enforces the internal control structure and sets the appropriate tone at the top.

Conversely, if the board is consistently perceived as bending the rules for specific employees, other board members, and certain stakeholders, it greatly undermines the control structure. All of that stems from the tone at the top.

THE BOARD IS NOT MANAGEMENT

Board members must be objective and not act in the capacity of the organization’s management team. In the same vein, management is not the board, and thus should not strive to control the board, its agenda, or its responsibilities.

It is not uncommon, particularly in smaller organizations, for these lines to be blurred. Rather, the organization’s management team should handle daily operations and execution of the strategic plan, while the board should steer the strategic planning process, set its agenda, and oversee company-wide policies.

STEWARDING FINANCES

A significant portion of the board’s time involves stewarding organizational finances. All organizations should seat at least one, if not more, financial experts on its board. Board members should be trained on the industry-specific nuances that pertain to the organization, and understand all of the regulatory standards with which the organization must comply. Failure to do so could be detrimental to the organization.

Additionally, the board should be involved in the budgeting process, especially ensuring that the budget reflects the organization’s strategic priorities. The board should not be a “rubber stamp” of approval to the management-prepared budget.

SELF MANAGEMENT

Board members must understand the role of bias in decision making. They should understand their own biases and seek out information to help them overcome them. Additionally, board members should seek to be life-long learners, asking questions until they are satisfied that they understand. This is especially important since they might later have to explain their position.

EFFECTIVE BOARD MEMBERS YIELD STRONG ORGANIZATIONS

Board members who understand their role, are aware of their impact, and are engaged with their constituents will not only reduce legal liability but keep the organization moving forward to achieve its mission.

An adjunct professor with the University of Denver’s Daniels College of Business, Keely Gohl, CPA, CGMA, is also the principal of Favor Financial LLC. She has served numerous nonprofit organizations and is a frequent COCPA instructor. Reach her at keelygohl@gmail.com.

Gohl’s new on-demand COCPA course, “Board Member 101,” is available at cocpa.org/board-member-101.

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A White-Collar Profession Showcases Trailblazing African American CPAs’ Determination Amidst Barriers

BY EULA ADAMS, CPA, MBA

While an 1896 New York State law brought about the United States’ first certified public accountant designation that year, it wasn’t until 25 years later, in 1921, that John Cromwell became the first African American CPA. It took another 45 years for the country’s African American CPAs to number 100, and another 60 years for them to represent 2% of the profession.

accounting experience for licensure.

More than a century after Cromwell’s licensure, African Americans continue to be severely underrepresented within the profession, a trend that author Theresa A. Hammond explores in her book, A White-Collar Profession: African American Certified Public Accountants Since 1921. Hammond also chronicles the stories of the determined African American professionals who found a way to blaze a trail despite numerous hurdles to attaining CPA status. The book does an excellent job of describing the barriers – racial, experiential, geographical, educational, economic, social, governmental, and political – that have contributed to the underrepresentation of African Americans within the profession.

Among the most significant hurdles that early African American CPA candidates faced was the belief by white professionals and others that African Americans were intellectually inferior. This belief was born out of both the slavery years and the disparity in African Americans’ educational and business experience. While most widely held in the South, it is safe to say that this belief was generally held throughout the United States. Unable to meet the requirements to take the CPA examination regardless of their significant academic accomplishments, many promising African American candidates chose other career paths.

LACK OF EXPERIENCE – AND A WAY TO GET IT

The experience requirement presented another considerable barrier, in terms of both varying requirements from state to state and young African American CPA candidates’ ability to gain experience within the profession. In most states, the state CPA society established the rules by which individuals could attain CPA

Access to experience within public accounting firms in particular – often the only available path by which candidates could build and demonstrate their competency in audit work – often proved to be an especially formidable barrier. In the 1950s and ‘60s, most CPA firms were unwilling to hire African Americans, claiming that clients would be uncomfortable having their books and records audited or examined by African Americans. As well, practice leaders and staff often negatively viewed the prospect of working with African American colleagues.

Faced with these onerous challenges on the path to CPA status and the varying requirements from state to state, early African American candidates often chose to relocate to states such as Illinois, Maine, and Georgia, to name a few, where requirements were more reasonable. African American CPA No. 1 John Cromwell, holder of a master’s degree from Columbia University, relocated to Maine in order to obtain CPA licensure, while Mary T. Washington Wylie, who in 1943 became the nation’s first African American woman CPA, became licensed in Illinois. Jesse Blayton, the country’s fourth African American CPA, was the first African American to be licensed in Georgia, in 1928.

HELPING DOWN THE LINE

As early trailblazers with their own public accounting firms, Mrs. Washington Wylie and Mr. Blayton, whose clients largely consisted of small businesses from the African American community, along with governmental and nonprofit entities, brought young, aspiring African American CPAs into their practices, allowing them to gain the required experience for licensure. Many had to hold down other positions while trying to meet the experience requirement by working in the evening or teaching. In most instances, these early African American CPAs made great sacrifices to earn their licensure.

PROGRESS FOLLOWED BY A SLOW-DOWN

The Civil Rights Movement of the 1960s brought about change that, in turn, prompted change in the public accounting, private industry, and governmental sectors. Policy shifts made by several more progressive presidential administrations encouraged industry, government, academia, and the accounting profession to create more opportunities for African Americans.

Progress continued in the 1970s, and the book discusses several initiatives from those years that were designed to boost interest among African Americans in pursuing CPA licensure. Employers, including public accounting firms, private companies, and governmental agencies, began recruiting heavily at historically Black colleges and universities (HBCUs). Most of these institutions were located in the South, where attitudes about hiring African Americans remained unfavorable. As a result, most of the employment opportunities for African Americans tended to be in the North. According to Hammond, most African American students from HBCUs recruited for these opportunities weren’t happy about the need to relocate to the North.

During these years, the AICPA established committees to identify strategies and actions to bring more African American representation into the profession, the National Asso-

ciation of Black Accountants was established, and HBCUs undertook programs to recruit and assist African Americans in the pursuit of accounting PhDs. And finally, the various state CPA societies made a conscious effort to recruit African American CPAs.

However, as the book further discusses, many of these initiatives were curtailed or eliminated during the Reagan administration. Consequently, the progress that African American CPAs experienced in the 70s stagnated in the ‘80s and ‘90s while representation by other groups within the profession (women, Asians, and Latinos) grew.

Today, African American CPAs continue to be underrepresented in the United States. Of the approximately 700,000 CPAs in the United States, it is estimated that approximately 14,000 – roughly 2% – are African American.

PERSONAL CONNECTIONS

On a personal note, I’ve been lucky to have crossed paths with many early African American CPA trailblazers, as both a student and a young professional. During my undergraduate days at Morris Brown College in Atlanta, I took classes from Jesse Blayton, the fourth African American CPA in the United States, who is pictured on the cover of Hammon’s book, and Dr. Johnnie Clark, the first African American woman CPA in Georgia and the 92nd African American CPA in the United

States. Ernest Davenport, No. 42 in the U.S., also attended Morris Brown College.

Once I was working in the profession, I served as a joint lead partner on an audit of the City of Chicago with Lester McKeever, the 61st African American CPA in the nation.

Finally, Frank Ross, one of the founders of the National Association of Black Accountants, and I were among the first African Americans to become partners in Big Four accounting firms – Frank at KPMG and me at Deloitte and Touche.

The tireless efforts of these and other early African American CPAs to earn licensure despite significant barriers to doing so helped pave the way for future generations of African American CPAs, and much more work remains today to bring more young African American professionals into the fold.

Semi-retired, Eula Adams serves on several boards of directors and is active on the COCPA Diversity, Equity, and Inclusion (DE&I) Committee. In 2023, he participated as a panelist on the committee's session, “The African American CPA Experience in Colorado,” an installment of the See Me: Stories of Diversity, Equity, and Inclusion webcast series. Contact Adams at adams.eula@gmail.com. To learn more about the DE&I Committee’s activities, contact Stacy Svendsen at stacy@cocpa.org.

Updates and Opportunities Related to COCPA Committees, Working Groups, and Boards

DIVERSITY, EQUITY, AND INCLUSION COMMITTEE

Many thanks to COCPA member Kelley Simon for her participation on the panel for the February See Me Series event, “Diversity, Equity, and Inclusion in the Workplace: Where are We Now and Where are We Going?” Simon, who is chief accounting and compliance officer with The Colorado Health Foundation, was joined by respected members of the DE&I community, Dr. Rosemarie Allen, president and chief executive officer of the Institute for Racial Equity and Excellence; and Mia Davenport from CBIZ’s Pride ERG Leadership Team.

In celebration of Women’s History Month, the March See Me Series installment, “Empowering Excellence: Women in Accounting,” featured COCPA members Jo Erven, Mary-Margaret Henke, Bridget Kalicki, and Laura Theiss. Panelists shared their stories, triumphs, and obstacles, along with invaluable insights gained throughout their professional journeys.

To celebrate Asian American and Pacific Islander Heritage Month, the April 25 See Me Series session will feature COCPA and AICPA members sharing their experiences in the accounting profession. This virtual session runs from noon to 1 pm and is free for COCPA members. Visit the DE&I Committee’s For Me/ See Me web page at cocpa.org/SeeMeSeries for more information and to register.

See page 16 for DE&I Committee member Eula Adams’ review of the book, A White-Collar Profession: African American Certified Public Accountants Since 1921.

MEMBER CONNECTIONS COMMITTEE

The Member Connections Committee (MCC, also known as the fun committee!) invites you to join! If you enjoy planning fun events, meeting and chatting with new people, welcoming members to networking events, and making member-to-member welcome calls, contact Stacy Svendsen at stacy@cocpa.org to learn more. Outside of the greater Denver area? Ask Stacy about the new statewide Member Ambassador program.

NONPROFIT WORKING GROUP

As part of their commitment to helping those in the nonprofit community, three members of the COCPA Nonprofit Working Group took the stage as panelists during the February 20 installment of the Colorado Nonprofit Association's quarterly online program, "Office Hours: Ask a CPA."

Sarah Flischel, AAFCPAs; Tiffany Knight, Kundinger, Corder & Montoya, P.C.; and Nathan Oberle, Hilltop Community Resources; answered questions from 21 attendees, covering topics such as budgeting, grant writing, tax filing requirements, and audit matters.

At the next “Office Hours" session, May 23 from 9 to 10 am, Elle Hume will join Knight and Oberle as a panelist. Watch the Colorado Nonprofit Association's website, coloradononprofits.org, for details on registering to attend the May 23 event.

TECHNOLOGY USERS GROUP

Many thanks to Anthony Shibata, senior manager in technology consulting at Wipfli, and COCPA member Jim Gilbert, principal, Jim Gilbert, CPA, LLC, for presenting to members of the Technology Users Group (TUG) on the hot topic, “Cyber Security and Digital Transformation: Best Practices and Insights” on Feb. 29. Free to COCPA members, the session provided numerous important and useful tips and takeaways. If you missed it, visit the TUG webpage at cocpa.org/technology/tug to watch a recording of the session.

You’re invited to join TUG, designed to bring together members to discuss technology and its impact on the accounting profession. In addition to its monthly meetings, the group sponsors topic-specific educational sessions, at which attendees earn one free hour of CPE. Mark your calendar for upcoming TUG sessions on May 19, Aug. 15, and Oct. 10. Visit cocpa.org/ technology/tug for details.

For more information . . .

For more information on the DE&I Committee, Member Connections Committee, Nonprofit Working Group, or Technology Users Group, contact Stacy Svendsen at stacy@cocpa.org.

For information on participating in these or numerous other committees, working groups, and boards, visit cocpa.org/get-involved. These groups offer a great way to share your time, talent, and expertise while engaging with other members.

Earven Henke Kalicki Theiss

PROFESSIONAL COMMUNITY

Welcome, New COCPA Members

The COCPA welcomes the following new members, who joined between December 2023 and February 2024.

FELLOW MEMBERS

Oscar Ambriz-Cisneros

Richard Bartolanzo

KK Barton

Laura Bauch

Julie Bennett

Joy Bican

Djoko Boentaran

Mark Bower (Retired)

Theresa Bradley

David Brown

Ce'Anna Buzzell

Emma "Katie" Cameron

Kevin Campbell

Evan Conner

Jamece Coplen

Xiaoxiao Corbell

Grant Daffin

ASSOCIATE MEMBERS

Ashley Dixon

Michael Ellerhorst

Skyler Gillespie

Emily Giltner

Matthew Heiserman

Ana Kim

Amy Layton

Ethan Damiano

Michael Duncan

Drew Duskin

Bradley Enos

Eric Evans

Kelly Fitzgerald

Paula Friedman

Jennifer Frontz

Manuel Gant

Kaki Giauque

Juan Gomez Jr

Dominic Griffin

Adam Hansen

Frances Harris (Retired)

Taylor Hobby

Eleanor Hume

Josh Phillips

Samuel Richison

Sydney Trichler

Haley Vandenbark

Melissa Walters

Ashley Wilcox

Wasfia Hussain

Neelan Keane

Romaine Kocer

Elizabeth "Beth" Kroupa

Katharine "KJ" Larson Begley

Katie Leech

Lucille Marolt

Nicholas Martzahl

Kristen McComb

Tyler Mohr

Megan Moore

Matthew Nehls

Jon Neilson

Rocco Pangallo

Ronald Phillips (Retired)

Michelle Piccone

Chris Posey

STUDENT MEMBERS

Gretchen "Ren" Bechtolt

Justin Brunner

Amanda Buonocore

Stacia Gondusky

Suzie Grabinsky

Brian Huey

Mary Kohler

Jenna Lay

GET INVOLVED | GET CONNECTED

Know any of these members? Reach out and welcome them to our community!

Visit the COCPA Member Directory at cocpa.org/member-directory.

Sarah Powers

Adeel Rae

Joni Risley

Frances Robles

Anna Rogers

Brett Rosko

Zachary "Zach" Runyan

Nicole "Nikki" Seelye

Cheryl Shelhamer

Shane Smith

Gavin Spaur

Yihong Wei

Rebecca Weingartner

Richard Weisheit

Sean Zdanky

Alan Neri

Sara Pierce

Robert Pina

Carissa Rael

Rebekah Ray

Melissa Sobeski

Marquavious Stevens

Brian Voelker

New members, are you looking for a way to get involved, meet others, and connect with your new professional community? Whether your passion is serving on a committee, participating in a special-interest group, or bettering your community, find the opportunity that speaks to you and join in!

Visit cocpa.org/get-involved to learn more.

Automation Paralysis: Where to Begin

BY WESLEY HARTMAN

The accounting space has a common theme right now: there are not enough people to do the work. In response, the solution that has been pitched over and over is automation. The real question is where to start the automation journey and how to take those first steps.

Before beginning the journey, deciding on a goal is a critical first step. The goal can be automating the entry of new client information or synchronizing data between two different platforms. Even goals that seem lofty, such as automatically e-filing a tax return when a Form 8879 is signed, can be achieved using automation.

Using the example of e-filing a tax return, let’s assume that you e-file 500 returns in a year. If the process consists of downloading the e-signed return, saving the return to your document manager, moving the project tracker to the next step, and submitting the return, it would likely take three to five minutes per return at best. Using the average time of four minutes, this becomes 2,000 minutes, or approximately 33 hours.

That’s four full workdays that one could spend on a task that currently is all human touch. Given that each step of this task is the same for every client, that consistency makes it a great candidate for automation. The best tasks to automate are structured, standardized, and scaled so that the best return on investment can be realized.

When taking your first steps toward automation, three tiers merit exploration:

1. Existing software

2. Automation off the shelf

3. Automation specialists

TIER ONE: EXISTING SOFTWARE

Starting with existing software, vendors are constantly adding functions and features to make business more efficient. Using the example mentioned above, sending an 8879, if the software includes a function to send automatic reminders, those reminders should be turned on. While there might be concern over annoying the client, the greater likelihood is that the client will otherwise forget. Instead of spending staff hours manually sending emails, let the automation remind the client. It seems obvious, but in our state of being constantly busy, we sometimes forget about simple features like this.

With existing software, there might be additional features that are behind the next level of licensing. For my project tracking software, I started at the lowest license level. As I utilized the software and implemented new processes and procedures, I realized that some features would allow managing those new processes and procedures with automation. The only requirement was to spend a few more dollars per month.

Lastly, with existing software, I always recommend reaching out to your representative or watching the provider’s webinars, which offer a wealth of information about the product. If your representative doesn’t have the answer to a question, ask them to reach out to colleagues for solutions. And, ask if they can put you in touch with other firms that have a similar structure to your firm. I have always been a strong proponent of collaboration with others and seeing what kinds of ideas result. Another firm might have already solved the problem, or you might be able to solve a problem for another firm.

TIER TWO: AUTOMATION OFF THE SHELF

On the second tier of automation is automation off the shelf. These automation tools are designed to be low code/no code solutions and focus on connecting two or more different systems based on a triggering event. Some examples of these tools are Zapier and Microsoft Power Automate, which are designed with a non-programmer in mind. They use flow charts or action lists to build out the task that you want to automate.

Tools like Zapier use Application Programming Interface (API) connections to communicate directly with software to execute various commands. Here is an example use case that I automated. I use Calendly to manage appointments and Click Up as a Client Resource Manager (CRM). Initially, when I get a new Calendly appointment, I would go into Click Up and enter the form information such as name, company name, email address, appointment notes, etc.

While initially this manual process was fine, eventually the number of meetings I was getting was overwhelming and I was unable to keep up with the data entry. Using Zapier, I had a triggering action of “Invitee Created in Calendly.” The next action was “Create Task.” I map the data from the Calendly action to the Click Up action. With this automation in place, potential clients will automatically be placed in my sales pipeline in Click Up with all of the data that they input into the Calendly form.

With Power Automate, I have a simple Robotic Process Automation (RPA) tool to build automations. I have used Power Automate to replicate keystrokes and mouse clicks for software to automation procedures. Consider assembling a tax return. There are some great products for delivering tax returns, but if you have a specific presentation that you want to stick with, Power Automate can assist with this. The automation can be built to navigate to different clients and create a PDF of various parts of the return, merge specific documents, and upload it to an online portal. This process is repeated for every client who receives a tax return, thereby reducing assembly time to a minute per return.

TIER THREE: AUTOMATION SPECIALISTS

The final tier is an automation specialist. Automation specialists are consultants who specialize in connecting applications using automation tools. The tools that they use can range from Zapier and Power Automate to full software development using programming languages such as Python. The automation specialist can look at your current business process and help identify opportunities for automation.

The specialist should start by asking questions about the current processes that you follow. He or she might make some suggestions that will make the process more conducive to automation. At times, it is as simple as having all reply emails go to a shared mailbox or changing the order of some of the actions taken by staff.

Think of automation specialists as power users of automation tools, even if they are using the same automation-off-the-shelf products that are available to everyone. Armed with their experience and specialized knowledge, specialists can utilize the advanced features of Zapier and Power Auto-

Additionally, they can deploy the automation more quickly. If an automation specialist offers programming as part of his or her services, more advanced automations can be deployed. For example, an automation that can read data from a PDF organizer and construct document request lists in your client portal. The automation specialist should be looking to build multiple automations to manage the flow of your data.

Automation is neither a sprint nor a silver bullet. Rather, it is a marathon and a mindset. Low-hanging fruit can be automated, which is a great place to start. Businesses that are successful with automation initiatives have built a multitude of automations, a strategy that can maximize time savings, improve productivity, and reclaim lost capacity.

Wesley Hartman is the founder of Automata Practice Development, Chatsworth, Calif. Reach him at whartman@automatapracdev.com. To learn more about or join the COCPA Technology Users Group, contact Stacy Svendsen at stacy@cocpa.org.

Looking for Your Superpowers? Mindfulness Practices Will Help You Find Them

BY ADRIANNE EAGER

Whether you work in tax, audit, industry, or any other sector of the profession, we can all relate to the rush of adrenaline – mixed with a hint of overwhelm – that leaves us scrambling to keep up. In this article, I aim to equip you with strategies to access your inner reserves and tap into your superpowers during periods of professional crunch time. If you read until the end and follow along, I promise your nervous system will thank you!

The journey that ultimately led me to my current role, as a manager at KPMG who specializes in talent and culture, stems from a profound personal experience with burnout during the upheaval of the COVID-19 era. Picture this: a young consultant, fueled by ambition and wanderlust, jetting off every week to exotic locales like Springfield, Mass., and Thomasville, N.C., to solve the world's problems, one client at a time.

Sounds glamorous, right? In my mind it was, until the world came screeching to a halt, and I found myself experiencing a gnawing emptiness inside. It was as if all the miles I had traveled had led me further away from myself rather than closer to my purpose.

This represented an all-time low for me. On the outside, I had landed a "great job.” But inside, I was totally disconnected from my spirit. Burned out, depressed, in poor health, struggling in my relationships, and limping through my days, I questioned – seemingly on the hour – “why am I here?” It felt like I had been swallowed up by a deep, dark pit from which I didn’t know how to emerge.

Can you relate to those feelings?

CHARTING A NEW COURSE

They say that every dark cloud has a silver lining, and mine came in the form of a friend from my yoga community. I was introduced to the transformative power of personal coaching, igniting a journey of self discovery and transformation. I found the dedicated support and accountability that one-on-one coaching affords to be an absolute game changer in terms of removing obstacles and accelerating my goals.

Through gradual adjustments to daily habits and silencing my inner critic, I began to chart a new course, grounded in clarity of purpose and actionable goals. Fast forward three years, and I now find myself on the other side, empowered to serve others through coaching and mentorship.

Transitioning from burnout to empowerment was no easy feat; it required a commitment to small, consistent changes. Today, as I lead well-being initiatives and help bring to life Mental Health Month programming for KPMG and my private coaching clients, I am reminded of the importance of resilience and self care in navigating professional challenges.

PRACTICAL TECHNIQUES

Now, let's get down to brass tacks. Here are three techniques that remain essential on my journey. Keep reading, and I promise you, if you follow along you will feel more refreshed and relaxed, with some new tools in your toolbelt to access your superpowers during the busiest times:

PRACTICE MICRO BREAKS: Amidst the chaos of a crushing workload or a looming deadline, it's easy to forget to pause and catch our breath. But trust me when I say that a moment of stillness can work wonders for your mind and body. Micro breaks are short, frequent breaks, typically 5-10 minutes long and taken throughout the day to rest and recharge. Even a single moment of mindfulness can alleviate stress and improve productivity. Here's a simple exercise you can try right now.

TRY THIS: Find a quiet spot, close your eyes, and take a deep breath in through your nose, counting to four. Hold it for a moment, then exhale slowly through your mouth, counting to six. Repeat this three times and notice how your body and mind begin to relax.

MINDFUL MONOTASKING: In a world that glorifies multitasking, it's easy to fall into the trap of spreading ourselves too thin. But the truth is that our brains are not wired to juggle multiple tasks simultaneously. Rather, by fully immersing yourself in each task, you can enhance your productivity and minimize stress. Studies have shown we’re actually up to 40% less productive when we multitask. So, let's shift to embracing the art of monotasking.

TRY THIS: Choose one task that you need to complete today and commit to giving it your full attention. Turn off any distractions, set a timer for 25 minutes, and work on that task with laser focus. When the timer sounds, take a five-minute break before diving back in. Repeat this cycle until the task is done and watch your productivity soar.

RESETTING THE NERVOUS SYSTEM: When stress threatens to overwhelm us, it's essential to have tools to reset and recalibrate our nervous systems. These practices regulate the autonomic nervous system, reducing stress and enhancing overall wellbeing. Studies have shown that even a short 15-minute stroll in your neighborhood can yield significant benefits. You can incorporate numerous simple practices into your daily routine to help you find your center.

TRY THIS: Take a nature break. Step outside for a few minutes and immerse yourself in the sights, sounds, and smells of the natural world. Feel the sun on your skin, listen to the birds chirping, and breathe in the fresh air. Even a brief moment spent in nature can work wonders for your mental and emotional well-being.

TRAIN TOGETHER FOR THE MARATHON

If you’ve made it this far, I hope that you’re feeling more relaxed, centered, and grounded with even a new technique or two to try during busy times.

May is Mental Health Month, and I encourage you to take the time – every month of the year – to intentionally invest in your journey toward balance and fulfillment. Remember, it’s a marathon, not a sprint. Let's embark on this path together, supporting one another along the way.

In addition to her position as a manager with KPMG, Adrianne Eager is the owner of Eager Today, a coaching and mindfulness practice based in Fort Collins. Connect with her on LinkedIn or reach her at adrianne.eager@gmail.com

EAGER TO LEAD DE&I COMMITTEE’S MINI MEDITATION SERIES

Looking for more from Adrianne Eager? Join her as part of the Diversity, Equity, and Inclusion (DE&I) Committee’s For Me series, as it presents a mini meditation series.

These 30-minute mini meditations, online and free to COCPA members, are designed to help you discover how to reset your nervous system and practice simple, realistic mindfulness techniques to help you thrive all year:

May 23: Grow Your Mindset

July 18: Escape the Heat

Sept. 26: Fall Harvest

Visit the DE&I Committee page for details and registration information.

To view the recorded version of Eager’s Jan. 25 session, “Supercharge Your Skills with Adrianne Eager,” visit cocpa.org/Supercharge-Your-Skills. For more information on the For Me series, contact Stacy Svendsen at stacy@cocpa.org.

COCPA Independent Accountants Alliance Connects Sole Practitioners, Small Firm Owners with Support and Resources

Helping Guide Your Business. Your Network. Your Future.

BY NATALIE ROONEY

More than 20 COCPA members gathered on Feb. 23 for the IAA’s first in-person meeting. Over lunch, attendees discussed growing their businesses and building their network of experts.

Thinking about launching your own CPA firm but feeling overwhelmed? Already established on your own and looking to better connect with others who are navigating a similar path?

The COCPA Independent Accountants Alliance is here to support your endeavor.

In 2023, the COCPA launched a new group, the Independent Accountants Alliance (IAA), to support the accounting journey of professionals choosing to pursue an entrepreneurial path. The group is dedicated to connecting independent accountants with one another and supporting all the business, technology, and operational needs that they might have.

Bailey Smith, CPA, owner of Sopris Accounting Solutions, LLC, Evergreen, is one of the IAA’s founding members. She launched her own firm in 2015 after eight years as an auditor at EKS&H.

When Smith was getting her firm off the ground, she developed her own networking group of former EKS&H alums who were sharing ideas, answering technical questions, discussing pricing structures, and sharing referrals. A few years down the road, she heard that the COCPA was getting a group together on a much larger scale and jumped in to help.

“Those first years starting up your own firm are a struggle,” Smith says. “Accountants have the knowledge and skill to start their own firms, but we’re a risk-averse group, so this process can feel scary. The first hurdle is just getting up the courage to do it.”

Smith says that the concerns she hears from other CPAs who are considering striking out on their own follow similar themes: Is there work out there, and how will I find it? “There is so much work, we can’t keep up,” she says, “so the answer is yes: There is work, and you’ll find it through creating networks. It’s the most organic way to build a business.”

Joe Hamilton, CPA, co-founded FirmKey Solutions in Denver to help businesses access reliable and scalable accounting and finance support. He sees the challenges that independent accountants and smaller firms face on the sales and business development side of things. “It’s time consuming and it requires firms to spend more time on unbillable work and less time on engagements,” he says.

Hamilton admits that it was hard to get his own business rolling, and there were a lot of challenges. “Entrepreneurs have so many questions. What do you even do first?” he asks. “And what comes next after you set up your business? What are we overlooking? It’s hard to find credible people to ask these questions who have faced the same challenges. The IAA is a great resource for accountants going out on their own to speak and connect with people who have been through the same thing.”

PREPARING FOR LAUNCH

During summer 2023, a core group of about 20 COCPA members began working to publicize the IAA’s existence and prepare for the launch. Group members have already been sharing information and referrals on everything from marketing issues to finding legal services. “This is all about providing a platform for information exchange,” Hamilton says. “What software is best for recording hours? What should I avoid? How do I find a mentor? These are all questions that I’m seeing in the CONNECT group. All of these questions help the other group members as well.”

Hamilton adds that there are no dumb questions. “As an accountant, it might seem like you should already know all these things, but how many times have you started a company? This group is a good sounding board for growing your business.”

Smith says the IAA leaders are casting a wide net at this point. Currently, any COCPA member can join, but the IAA is designed to meet the needs of sole practitioners and small firms who need resources such as vendor lists, tips and tricks, questions, and referrals. “We want to provide a safe place to ask questions,” she adds.

HERE TO SUPPORT YOU

Hamilton says that IAA members don’t have to be starting a CPA firm. Any small business owner can find support in the group, along with those who are merely considering going out on their own. “This is about providing someone with the resources they need and the confidence to take those initial steps to get up and running,” he explains.

Smith says an IAA member’s comment at one of the first planning meetings really sums it up: “She said she was looking for people who get her and understand what she’s dealing with,” Smith recounts. “That’s exactly what this is. A group of peers who understand what you’re going through, whether they’re just starting out or have some experience. These are both peers and mentors who are all here to offer support.”

While much of the IAA activity takes place through the virtual community, the group hosted its first in-person gathering in late February, allowing IAA members to meet face to face, share ideas, ask questions, and grow their networks.

“I was impressed with the turnout and the connections that we were already making,” Smith says of the event, which more than 20 people attended. “We had people from so many different backgrounds and industries, which helped to foster great questions and discussions. We could have talked for hours.”

Virtual meetups will be held in the future to bring CPAs in outlying areas into the mix.

Whether you are already out on your own or considering such a move, IAA is the place for you. The group has a webpage (cocpa.org/iaa) and a community within CONNECT, the COCPA’s online, members-only discussion forum. Visit the CONNECT community at cocpa.org/IAA-Connect. To learn more about IAA, contact Derrol Moorhead at derrol@cocpa.org

AICPA Leadership Academy Brings Self Reflection, Skill Building, and Community to Two COCPA Members

BY NATALIE ROONEY

The program, now in its 15th year, was held in Durham, N.C., Dec. 11-14.

The AICPA Leadership Academy was created to inspire, nurture, and empower the next generation of diverse CPA leaders by providing them with advanced leadership training.

The Leadership Academy features career-development workshops and sessions with leaders in the profession, which this year included AICPA Chair Okorie Ramsey, CPA, CGMA, PMP, NACD.DC, and AICPA President and CEO Barry Melancon, CPA, CGMA. The program was led by Elizabeth Burkhalter, CPA, senior manager of the AICPA & CIMA Diversity and Inclusion Team’s Emerging Professionals Initiatives.

REPRESENTING THE COCPA

Kristin Mauer, CPA, advisor – SEC financial reporting for SM Energy Company in Denver, had been researching leadership courses and opportunities. “I’ve always been curious about leadership but haven’t yet had the opportunity to manage and lead during my career,” she explains. “I

Two COCPA members were among 36 CPAs from around the country to graduate from the 2023 AICPA Leadership Academy, a program designed to expose the next generation of CPAs to a strong ethic of leadership and service.

want to build those skills so I’m ready to lead a team and manage others.”

After learning about the AICPA Leadership Academy, she discussed the program with incoming COCPA Board member Pat Lytle, CPA, CGMA, vice president –chief accounting officer and controller at SM Energy, a graduate of the program himself, who then put Mauer forward as a nominee.

Cody Bair, M.T., CPA, manager, specialized tax services for PwC in Denver, was nominated by COCPA President and CEO Alicia Gelinas. “She asked me if I would be interested in attending,” he says. “After researching the program, I was interested. After I was accepted, I chatted with a few past attendees from Colorado, and they said it was a great experience.”

TAKEAWAYS FOR CPAS

The first half of the Leadership Academy is focused on leadership of self, a self examination of personal leadership, and steps where improvements can be made. The second half covers how to have strategic conversations in

organizations and in-depth discussions about the profession, the AICPA and CIMA, and the opportunities that these emerging leaders have ahead of them.

Prior to attending the program, participants were given pre-work and career coaching sessions to help them arrive prepared for conversations. The goal was to consider their own core values and their “why.”

Mauer describes the first two days of the Academy as introspective. “We looked at our own biases and areas for improvement,” she says.

The next two days focused on the organizational leadership mindset and the profession at large. “It was a unique opportunity to work on both personal and professional skills,” Mauer says.

Bair says he has many takeaways from the program, but one of the biggest was learning to think about time management as a concept of energy management. “It’s about managing tasks based on your energy level as opposed to managing every second and minute of the day,” he explains. “We spend a lot of time

just focused on whatever task seems the most relevant right then. I learned the importance of determining what’s most important to complete every day, and then budgeting my time rather than getting distracted by what’s at the top of the inbox. It comes down to making a plan and sticking to it. The value is in the planning.”

Another important takeaway for Bair: learning techniques to deal with stress, a critical issue for accounting professionals.

Mauer agrees. “It’s amazing to be around and learn from like-minded, high energy, goal-oriented people,” she says. “It’s inspiring to hear what other people are doing with their careers and personal lives and how they integrate the two.”

PAVE THE WAY TO YOUR PROFESSIONAL AND PERSONAL GOALS.

Mauer says that after experiencing the benefits of the one-on-one coaching, she’s excited for more coaching opportunities in the future. “It was a unique experience to set aside time and be really intentional with where you are currently and where you’re headed,” she reflects. “I came out of the session with more direction on where I’m headed in my career. It’s helpful to have the structure of a tangible 90-day plan coupled with check-in activities to help keep the momentum going.”

Other takeaways for Mauer: talking about the definition of “possible” so that fear doesn’t drive you, having an attitude of abundance toward life and career, and developing a coaching mindset.

Emerging professional? Looking to take a leap in your career? Learn how to interact with, lead, and manage others while networking with your colleagues. We encourage young professionals to be sponsored by their employer, or if you are in the position to sponsor a colleague, take advantage of this incredible opportunity for growth.

$1,499 for COCPA Members

$1,799 for Non-members

Growing her coaching mindset was something that Mauer was able to implement immediately in the workplace. “I realized I need to ask better questions instead of just providing the answers to coworkers,” she says. “We need to ask others empowering questions and provide space for their own research and struggle. That creates a win-win situation.”

Delivered over two half days and two full days from June to November, this program will challenge you to step up and become the leader you and your team deserve.

CREATING A PROFESSIONAL NETWORK

Bair and Mauer both say they appreciated the time at the Academy to forge new connections and friendships.

“I’ve taken part in other leadership training programs but nothing specific to the accounting profession,” Bair says. “Connecting with people from different areas of the profession and the country who are the same age and career stage was invaluable. What works well? What hasn’t worked? It was a great opportunity.”

Session Dates

JUNE 19

Welcome Event/Rockies Game

JUNE 20

Day 1 - COCPA Education Center

AUGUST 16

Day 2 - Online

OCTOBER 4

Day 3 - Online

NOVEMBER 4

Graduation

THE TIME TO BUILD YOUR LEADERSHIP SKILLS and invest in your team is more crucial than ever. APPLY OR NOMINATE YOUR STAFF BY MAY 31, 2024 COCPA.ORG /LEADFIT cocpa.org/leadfit Learn

COCPA Education Center

Looking for a leadership training opportunity closer to home?

THE TIME TO BUILD

YOUR LEADERSHIP SKILLS and invest in your team is more crucial than ever.

Consider LeadFit, delivered in person and online over the course of two half days and two full days between June and November.

PAVE THE WAY TO YOUR PROFESSIONAL AND PERSONAL GOALS.

Emerging professional? Looking to take a leap in your career? Learn how to interact with, lead, and manage others while networking with your colleagues. We encourage young professionals to be sponsored by their employer, or if you are in the position to sponsor a colleague, take advantage of this incredible opportunity for growth.

See page 9 for details.

$1,499 for COCPA Members

$1,799 for Non-members

Delivered over two half days and two full

Session Dates Welcome

MOVERS & SHAKERS

ABBEY AGUIRRE

Abbey Aguirre was named executive director of the COCPA Educational Foundation. In addition to her new responsibilities, Aguirre will continue serving as the Society’s student, faculty, and young professionals engagement representative. Reach her at abbey@cocpa.org.

SARAH FLISCHEL

Sarah Flischel was named director of audit transformation and training with AAFCPAs, a regional firm based in Massachusetts.

SEONAH KENDALL

SeonAh Kendall, director of economic sustainability, City of Fort Collins, was named to BizWest’s 2024 Top 50 Most Influential Business Leaders.

CBIZ MHM, DENVER, ANNOUNCED THE FOLLOWING PROMOTIONS:

DWC CPAS AND ADVISORS, GRAND JUNCTION, ANNOUNCED THE FOLLOWING PROMOTIONS:

LORI ANNE REINWALD

Lori Anne Reinwald was named chief financial officer and chief operating officer of Thriving Families, Denver. Reinwald continues to provide some ad-hoc services to clients as the principal of Lori Anne Reinwald, CPA.

CHARLIE WRIGHT

Charlie Wright retired in February after nine years as chief financial officer of the Denver Zoo. He continues to serve on the Global Board of the Institute of Management Accountants, teach as an adjunct professor at the University of Denver, serve on the COCPA Editorial Board, and play music as the principal percussionist for the Denver Pops Orchestra.

Tyler M. Hugentobler

CPA PRACTICE ADVISOR NAMED THE FOLLOWING COCPA MEMBERS TO ITS “40 UNDER 40 ACCOUNTING PROFESSIONALS” LIST:

Danny Manimbo

principal, ISO practice director, AI assessment leader, Schellman, Denver, and Alexandria Romero, director of finance, City of Pueblo.

IN MEMORIAM

We extend our sympathy to the family and friends of the following COCPA members:

Martha Lilly

Cheyenne, Wyo., member since 1983

Allen McConnell

Greeley, Colo., member since 1969

SHARE YOUR NEWS!

Do you have good news to share about your organization, such as a staff promotion, award, or new hire? Send your Movers & Shakers announcements to Kelli Davis at kelli@cocpa.org.

Emily Aberle, to outsourced accounting manager; Austin Fite, to tax senior manager; Tyler Mohr, to audit manager; and Caitlyn O’Neil, to tax senior associate II.

, to tax senior; Brent S. Metzler, to audit senior; and Rachael A. Templeton, to audit senior.

,

CLASSIFIEDS

PRACTICES FOR SALE, PURCHASE, OR MERGER

Selling your practice in 2024 or looking to purchase a practice? Let’s talk!

If 2024 is your year to sell, please call us today to start the process. Selling your firm is complex. ACCOUNTING BIZ BROKERS can help simplify the process! We have 28 years of combined experience selling CPA firms. We know your market, have a large database of active buyers, and work with industry specific lenders eager to assist buyers with financing. Kathy Brents, CPA, CBI, at 866-260-2793 or Kathy@AccountingBizBrokers.com, or visit our website at www.AccountingBizBrokers.com.

Current Listings:

Denver Tax Study Group

TUESDAYS, VIRTUAL ONLY, NOON-2 PM MT

Upcoming meetings:

April 23 | May 21 | June 25

Register at www.cocpa.org/Denver-Tax-Study-Group

Boulder/Longmont Tax Study Group

WEDNESDAYS, VIRTUAL ONLY, NOON-1 PM MT

Upcoming meetings:

May 1 | June 5 | July 10

Register at www.cocpa.org/Boulder-Tax-Study-Group

High-quality, specialized learning for your team

COCPA Customized Team Training makes it possible for you to create a learning experience specifically for your team’s needs. Select a course from our catalog, or work with us to customize a program for your accounting and finance team.

WAYS TO DESIGN YOUR PROGRAM:

Instructor Focus area Timeframe Materials

We’ll work with you to build a customized course that helps your team improve its skill set in any number of areas, including things like ethics, communications, leadership, and more. And we can do that in person or virtually. Better yet, you can choose to use one of our available experts, or teach it in-house with our professional materials.

Bring your entire team together for team building and learning that supports your department’s goals as well as the overall mission of the organization. With CPE, or without, we BUILD it for YOU, using our expertise in the accounting and finance arena.