ASCPA Board Member Rob Pearson talks about his role in the Alabama School of Healthcare Sciences
How do you enjoy your summer? Is this your time to relax a little and enjoy a vacation? Do you like to binge-watch movies or read books that have been shelved through busy season? Do you spend more time with family and friends doing all the things that give you joy? In my experience, summertime offers many opportunities to fuel your “And.”
If you are unaware of my reference, our 2025 Annual Meeting keynote speaker John Garrett, a “recovering CPA,” thought provoker, change catalyst, and former stand-up comedian, talked to members about becoming a people-centric profession through sharing passions and purposes. The fact that we are unique and enjoy different things, both in work and in life, should be the reason our teams work together at a high level and should be the reason we attract new talent.
I wanted to preface my comments about the 2024 National Pipeline Report with John’s wisdom because I believe he truly sees the big picture of how the accounting profession must do a better job of telling our story. We have an image problem and it will take everyone to change the pipeline’s perception of accounting, and to spark excitement with the next generation.
We did not join the profession to solely crunch numbers, rather to help others succeed financially. We entered the profession because of the dynamic and diverse career opportunities that exist, and because of career stability, yet students don’t often hear this side of the equation. They hear about the day-to-day grind, busy seasons, and inflexible work environment. We must re-shape the profession’s image to help address the accounting talent shortage.
In July 2023 the National Pipeline Advisory Group (NPAG) was created. Comprised of 22 diverse leaders and perspectives from across the profession, I was honored to serve on the advisory committee. The charge of NPAG was to develop a national strategy focused on increasing the accounting profession’s student pipeline. Now, one year later, the 2024 NPAG report is published and final. You can download the report at accountingpipeline.org.
The talent shortages of the past several years, coupled with strong demand for accountants and CPAs, have created challenges throughout the profession. So, what are the next steps? What are the solutions? The report is summarized into six major themes, or solutions, that offer a profession-wide approach to growing our talent pool. What is offered in the report is only the beginning, and the implementation of many of the “solutions” will not be easy. So, let’s get started and learn how you can help re-shape the profession.
NPAG’s recommendations are based on six major themes that emerged from various data sources. These themes are not ranked, and all are equally critical. To succeed, the profession collectively needs to:
Make the academic experience more engaging – Academia is leading an important push to change how introductory courses are taught by making best-in-class resources and training available to all educators. NPAG also recommends that accounting programs are positioned to help guide and support students as they progress into more challenging coursework (pull-through courses not weed-out courses), and that current technologies need to be integrated into curriculum so that students are experiencing accounting practices, not just learning accounting theory.
Address the time and cost of education, three approaches – One, experiential learning that earns college credit on the student’s transcript, delivered by an accredited college or university. This option is available now. Two, experiential learning that earns college credit off the student’s transcript, most likely delivered by the employer or another third party. This is a near-term option. Three, create a competency-based licensure model that is not based solely on university credit hours or time on the job. This would be a longer-term option.
Grow support for CPA Exam candidates–The profession needs to improve the CPA Exam testing experience and should consider addressing the cost of the exam,
and rewarding individuals for passing each section of the exam, adding flexibility to the timeframe in which the exam can be taken, simplifying the application and eligibility process end-to-end, and reworking the content and/or format of the exam itself.
Expand access for underrepresented groups - It’s critical that the accounting profession reflects the makeup of the U.S. population. Getting there will take building interest in accounting careers among underrepresented populations. We can achieve this by targeted messages, scalable college-bound experiential programs, establishing closer relationships among the profession and community colleges, four-year colleges, and minority-serving institutions and universities.
Enhance the employee experience –
Employers must create a more attractive employee experience and yes, that begins with an increase in starting salaries such that accounting is more competitive with other (business) majors. Employers also need to consider manageable workloads, more interesting work, transparent advancement opportunities and rewards.
Tell a more compelling story – This solution I discussed earlier, but it should be reemphasized that our outdated messaging highlights more negatives than positives and is coupled with misconceptions about accounting careers.
While the challenges are daunting, the members of NPAG feel a genuine sense of optimism. We know when the accounting profession pulls together to solve a tough challenge, amazing things can happen. I have only scratched the surface of the report. I hope you will invest the time in reading the full report and make a personal commitment via the Pipeline Pledge to participate in efforts that influence students and the future of our great profession.
And please remember - the next time a student, recruit, or new hire asks about your expertise, talk about your defined skill set, but also share what motivates you and how your uniqueness adds value and strength to your team and the work you do.
If you wish to know more about NPAG, or to learn how you can get involved, please contact me at jbirmingham@alabama.cpa.
As I write this article, we are in the dog days of summer here in Alabama, but even though the temperatures are high, school is back in session. This school year I have a rising Senior and man does that put things in perspective. We are starting the college conversation (hopefully not too late) and talking about careers. As I discuss these major life decisions with my 17-year-old son, I can’t help but think about my pathway to being a CPA. My high school offered accounting classes. My mother, whose college degree was in accounting, suggested I try it out. I did and to my surprise I just “got it.” But what if my mother had never taken accounting, what if no one had ever nudged me in that direction?
This issue of Connections focuses on the accounting pipeline. The pipeline shortage is something we have been talking about for a long time. So long, in fact, that I see “pipeline fatigue” when it comes up in conversation. But the truth is - it is here and it is a problem. This is not just a public accounting problem. There are shortages of accountants in all industries. It is not uncommon to read articles about quarterly reports being delayed or material weaknesses in financial statements due to the lack of accounting staff. But as Benjamin Franklin said, “out of adversity comes opportunity.”
It is more important than ever for current CPAs to reach out to our younger generation and let them know about the opportunities in the accounting field. This is our opportunity to show how this profession can make a difference. People rely on us for all kinds of decision making, and what we do really touches people’s lives. One of the things I love about the younger generation is they want to make a difference. We need to tell our story and focus on how we, as a profession, can (and do) make a difference in people’s lives.
I once had a client break down in tears because I helped her with a pretty serious tax issue. Once it was resolved, she told me how she had been unable to sleep or concentrate during that stressful process. Now that it was over, her life was back on track. I truly helped her, and she was so appreciative.
As you read the CEO message from Jeannine on page 4 you’ll learn more about how the AICPA formed the National Pipeline Advisory Group (NPAG) in July 2023 to put together a profession-wide strategy to address the pipeline issue. NPAG was made up of 22 accounting professionals, academics, regulators, and state CPA societies, including our very own Jeannine Birmingham! Now that
the group has issued their final report findings, I encourage you all to read at a minimum the executive summary - but the entire report is very eye opening!
Have you ever heard that accounting 101 is a “weed out” course? Well, it shouldn’t be! Why can’t we have the most engaging professors teach those introductory courses that use top notch technology and training? And if you have students that are falling behind, why can’t we lift them up and encourage them along the way to keep at it with tutoring and other assistance?
We have all heard the 120 vs. 150-hour argument, and while that issue will take more than this article to address, the truth is it does take more resources to get the required criteria to sit for the CPA exam. This section sets forth ideas that are outside the box to the normal course of licensure.
My favorite theme, or solution, to come from their report is, “Tell a better story.” Let’s face it - the accounting industry has a branding problem, and the only ones that can fix it are us. We must do a better job telling our story and inspiring future leaders in our profession.
I encourage all of you to go out and tell your story. Share what you love about this profession. It might just encourage someone who has never heard of accounting to sign up for an accounting class, and maybe they will take that accounting 101 course and “get it,” too. I do not believe this will fix itself over night, nor do I believe the path will be easy, but I do have faith that we can turn this around and show the next generation that we have a great profession, that we are resilient, we are adaptable, and we do make a difference.
With that in mind, have you heard of Accounting Opportunities Week? It’s a collaboration between state CPA societies and the AICPA to raise awareness of accounting career opportunities among high school students. It will happen in Alabama November 18-22, and we’d love for you to be involved. To learn more, or to get involved, visit alabama.cpa/AOW.
The Alabama Society of CPAs will be working closely with the NPAG and the AICPA to implement the strategies outlined in the NPAG report. If you would like to read the executive summary, or the report in its entirety, go to alabama.cpa/NPAG.
2024 Alabama Legislative Update
By Bruce P. Ely and William T. Thistle, II
The Alabama Legislature concluded its 2024 regular session in May with a number of important tax bills that passed and were signed into law by the Governor. Given that the session largely overlapped with busy season, you may have missed some updates. That’s where we come in. Below is a summary of select tax legislation that we think you (and your clients) ought to know about.
Act 2024-437: Clarification for Exemption from State Income Tax for “Overtime” Pay
You may recall that Act 2023-421 excluded from Alabama gross income any amounts received by a full-time hourly wage employee as compensation for work performed in excess of 40 hours in a week. That act is effective for all tax years beginning after December 31, 2023. This first in the nation exemption is available to both public and private sectors. However, the calculation of compensation for work in excess of 40 hours per week presented compliance challenges for businesses. This act replaces the over 40 hour standard with “amounts paid as overtime compensation in accordance with
the U.S. Fair Labor Standards Act.” The new standard for determining the exemption “shall be available” beginning October 1, 2024 through June 30, 2025 although comments made by Department of Revenue officials at our annual COST Southeast Regional SALT Update in August indicated they would accept that calculation even now.
Like most states, Alabama offers an elective pass-through entity (“PTE”) tax as a SALT cap workaround. Alabama’s PTE Tax allows an eligible entity to annually pay a flat 5% income tax on its earnings apportioned and allocated to Alabama, in lieu of its owners doing so on their individual tax returns. The owners then claim their distributive or pro rata share of the tax as a credit on their Alabama returns. For tax years prior to calendar year 2024, the entity had to file the election electronically through its MAT (My Alabama Taxes) account, on or before March 15 of the year following the year for which the election is to first apply, for calendar year filers. Many taxpayers and their return preparers assumed that the election, like many others, could be
made by the extended due date of that return, and many did not understand the significance of making the election on their MAT account.
Act 2024-113 allows calendar year taxpayers to make the election for 2024 on or before September 15, 2025, via their MAT account. For tax years beginning on or after January 1, 2025, the election may be made on the tax return itself (vs. via MAT), “including any extensions which have been granted.”
Act 2024-303: Childcare Tax Credit
For tax years beginning on or after January 1, 2025, and ending December 31, 2027, this act provides: (1) an “employer tax credit” for 75% of the eligible expenses (100% for small employers) incurred by an employer in providing or funding childcare for its employees at qualified childcare facilities; and (2) a “facility tax credit” for qualified childcare facilities in Alabama, up to $2,000 per eligible child at the facility. Both credits may be claimed against the corporate and personal income tax.
The “employer tax credit” is capped
at $600,000 per employer. Eligible expenses for the employer tax credit include, among other things, (1) expenses incurred by an employer for the construction, renovation, expansion, or repair of a childcare facility, or for the purchase of equipment for the facility, or for the maintenance and operation of the facility; (2) payments made to childcare facilities or employees for the provision of childcare at qualified childcare facilities for children of employees; and (3) payments made to childcare facilities to reserve services for children of employees. For the calendar year ending December 31, 2025, the employer tax credit is limited to an aggregate amount for all employers of $15 million, which will increase to $17.5 million for the calendar year ending December 31, 2026 and $20 million for the calendar year ending December 31, 2027. At least 25% of the amounts specified must be reserved for awards to small businesses or employers that are headquartered in rural areas. Thus, the credit is not automatic—your client must apply for it.
The “facility tax credit” is limited to an aggregate amount for all childcare providers of $5 million in a calendar year. At least 25% of this amount must be reserved for awards to childcare providers operating facilities exclusively in rural areas.
The legislation also enacts a grant program providing grants of up to $50,000 per year to nonprofit childcare facilities.
Act 2024-21: Creating Hope and Opportunity for Our Students’ Education Act of 2024 (The CHOOSE Act)
Starting next academic year, the CHOOSE Act creates refundable income tax credits for contributions to education savings accounts (“ESAs”) available to help fund education expenses of many K-12 students in Alabama. The Department of Revenue will establish the framework and funding for ESAs, which may be used by eligible families to cover tuition, fees, and other qualified education expenses at approved education service providers in Alabama. To be
eligible to participate, the student’s family must have AGI of less than 300% of the federal poverty level in the preceding year, unless the student has special needs.
ESAs in the amounts below will be available beginning with the 2025-2026 Academic Year:
• Up to $7,000 per participating student enrolled in a participating school;
• Up to $2,000 per participating student not enrolled in a participating school (e.g., students that participate in individual or group homeschool programs or co-ops, non-participating schools, or other similar programs); capped at $4,000.
For more information about the credit amounts in subsequent years and applicant priority, please visit the Department’s helpful website: https:// www.revenue.alabama.gov/taxpolicy/the-choose-act/.
Act 2024-170: Expansion of Military Pay Exemption
Persons stationed in Alabama with any branch of the military are not subject to Alabama personal income tax. Effective January 1, 2025, this act expands that exemption to cover members of the National Guard and Reserve as well.
Act 2024-344 (HB 73) – Cap on Property Tax Increases
As you may have noticed from firsthand experience, property tax values for many properties in Alabama have increased dramatically over the last few years. To address this issue, Act 2024-344 generally limits the increase in the value of Class II (business/commercial) and Class III (residential, historic, and agricultural) real properties to not more than a seven percent (7%) increase in the previous year’s value, subject to various exceptions. Importantly, the cap will not apply to property that has never been assessed, new additions or improvements to real property (i.e., new construction), changes
to classification, most changes in ownership, and property located in a tax increment financing district. The act is effective for fiscal year beginning October 1, 2024, and the cap will continue through fiscal year beginning October 1, 2027 (i.e., sunsets after 10/30/28). The Department of Revenue proposed Rule 810-4-1-.28 to implement this new legislation.
Conclusion
This is by no means a comprehensive list of important tax legislation that passed this session. In particular, there were several bills extending or offering new incentives for businesses looking to expand or locate in Alabama. If you have any questions about the acts discussed above, or any other recently enacted legislation, please feel free to reach out to the authors. Also, Bruce Ely and Department of Revenue officials will survey substantially all the tax legislation enacted this Spring, and make some unofficial prognostications for next legislative session, during the Alabama Federal & State Tax Institute on November 7, 2024 here in Birmingham. We hope you’ll make plans to attend.
Still looking to finish your 40 hours? Here are a few of our planned CPE programs for the remainder of the year, including live webcasts, webinars, in-person events and hybrid events featuring inperson and virtual attendance options.
We have a list of CPE FAQs on our website which address accessing your ASCPA account, logging into a CPE course, and finding your transcript. There is also a section on surveys, which must be completed within 7 days after a course in order to process CPE certificates. Please read over this short FAQ page, which can be found at alabama.cpa/cpe-faq, to ensure you are ready to successfully close out the 2024 CPE Season.
Digital Asset Accounting and Taxation
Virtual and In-Person
9/10/2024 (8:30 AM- 12 PM)
Marc Hamilton | 4 Taxes
Navigating the Future: Leveraging AI Machine
Learning in Accounting and Auditing
Virtual and In-Person
9/10/2024 (1 PM- 4:30 PM)
Marc Hamilton | 4 A&A
Accounting Pipeline Shortage
- Exploring Alternatives to Outsourcing
Virtual
9/12/2024 (12-12:50 PM)
Shrey Ramakrishnan | 1 Other
Sales and Use Tax Workshop
Virtual 9/13/2024 (8:30 AM- 12 PM)
Bruce Ely and Will Thistle | 4 Tax
Update on CTA and BOI: Where Do We Stand?
Virtual
9/13/2024 (2 - 3:40 PM)
Jim Martin 2 Ethics
City Visits: A&A in the Rocket City
In-Person
9/16/2024 (8:30 AM-4 PM)
Jim Martin 8 A&A
City Visits: A&A in the River City
In-Person
9/17/2024 (8:30 AM- 4 PM)
Jim Martin 8 A&A
Demystifying Form 5471: A
Beginner’s Guide
Virtual
9/17/2024 (10:30 - 11:20 AM)
Alex McGowin | 1 Tax
Sip & CPE - Montgomery In-Person
9/17/2024 (3 - 5 PM)
Amanda Senn | 2 Ethics
City Visits: A&A in The Shoals In-Person
9/18/2024 (8:30 AM- 4 PM)
Jim Martin 8 A&A
Hot IRS Audit Issues: More Money (For Them), More Problems (For Your Clients)?
Virtual
9/19/2024 (10-11:40 AM)
Gannon and Luechtefeld 2 Tax
Accounting for Pensions
Virtual
9/19/2024 (2 PM- 3:40 PM)
Josh McGowan | 2 A&A
A&A Update for the Real World
Virtual
9/23/2024 (8:30 AM- 12 PM)
Jim Martin 4 A&A
The Quality Management Standards are Moving Closer
Virtual
9/23/2024 (1 PM- 4:30 PM)
Jim Martin 4 A&A
K2’s Next Generation Excel Reporting
Virtual
9/24/2024 (9 AM- 4:30 PM)
K2 Speaker | 8 Accounting
Sip & CPE - Mobile In-Person
9/24/2024 (3 - 5 PM)
Amanda Senn | 2 Ethics
K2’s Implementing Internal Controls in QuickBooks Environments
Virtual 9/25/2024 (9 AM- 4:30 PM)
K2 Speaker | 8 Auditing
AICPA’s Code of Professional Conduct
Virtual 9/25/2024 (10 - 11:40 AM)
Mike Brand | 2 Ethics
K2’s Improving Productivity with Microsoft 365/Office Cloud Applications
Virtual 9/26/2024 (1 PM- 4:30 PM)
K2 Speaker | 4 Computer & Software Applications
Financial Accounting and Auditing Conference (FAAC)
Virtual and In-Person
9/27/2024 (8 AM- 4:30 PM)
Various | 8 TBD
Sip & CPE - Auburn In-Person
10/1/2024 (3 - 5 PM)
Amanda Senn | 2 Ethics
Sip & CPE - Birmingham In-Person
10/8/2024 (3 - 5 PM)
Amanda Senn | 2 Ethics
Sip & CPE - Huntsville In-Person
10/24/2024 (3 - 5 PM)
Amanda Senn | 2 Ethics
Alabama Federal and State Tax Institute (AFSTI) Virtual and In-Person
11/6-11/8/2024
Various | 20 Tax
K2’s November Technology Conference Virtual 11/11-11/12/2024 (8 AM-4:15 PM)
Various | 15 Various
Governmental Accounting and Auditing Forum (GAAF) Virtual and In-Person
12/9-12/11/2024
Various | 16 Various
Federal and State of Alabama Tax Update Virtual 12/12/2024 (8:30 AM-4:30 PM) Jim Martin 8 Tax
See the entire catalog and up-to-date course offerings by visiting alabama.cpa/CPE.
Alabama CPA leads effort to bring new education to Demopolis
In the heart of Alabama, a transformative initiative is taking shape that could redefine healthcare education and workforce development for the state. This ambitious project centers on the founding of Alabama’s fourth residential specialty school, uniquely focused on healthcare. Located in Demopolis, a rural town with a rich history, the school aims to address a critical shortage of healthcare technicians across Alabama, particularly in underserved rural areas.
The idea for the school emerged from discussions involving key stakeholders, including UAB and the governor’s office. They recognized the urgent need to bolster the healthcare pipeline, not just by producing more doctors but by training a skilled workforce of technicians who are essential to the functioning of medical clinics and hospitals statewide. The school, strategically placed adjacent to a local hospital in Demopolis, will provide an immersive learning environment for students, making it a cornerstone of the community.
Rob Pearson, a member of the ASCPA Board of Directors and a lifelong resident of Demopolis, has been deeply involved in the project from the outset. His commitment to the community and understanding of the healthcare landscape in rural Alabama made him an ideal candidate to lead the initiative. When asked by the governor’s office to serve on the foundation board supporting the school, Rob initially had reservations about the time commitment. However, recognizing the potential impact on both his hometown and the broader state, he accepted the role.
The project’s significance is underscored by the support it has received at every level. The Alabama legislature approved the school, made official
when the governor signed House Bill 163, marking it as one of the top priorities for 2024. Moreover, the city of Demopolis has fully embraced the project, even deeding the necessary property and providing initial funding to kickstart the development. The school’s location near the hospital will not only facilitate hands-on learning but also ensure that students gain real-world experience in a healthcare setting.
One of the most remarkable aspects of the project is the involvement of Bloomberg Philanthropies, which has pledged $26.4 million to support the school’s development. This donation, the largest of its kind in rural West Alabama, will be transformative, ensuring that the school can offer a top-tier education free of charge to its students. These students, recruited with the help of hospitals across Alabama, will receive intensive training in healthcare fields, positioning them to fill high-demand, high-paying jobs immediately upon graduation.
For Rob, the project has been a rewarding yet challenging journey. Balancing his professional responsibilities with his commitment to the school has required significant time and effort. However, the support from his firm, his family, and the wider community has been unwavering. Rob’s involvement has extended beyond just leadership; he has become the face of the project, advocating for its success at every turn.
The school represents a vision for a better future, not just for Demopolis but for the entire state of Alabama. As Rob and his team continue to build this innovative educational institution, they are also laying the foundation for stronger, healthier communities. The school is more than just a response to a workforce shortage; it is a beacon of hope and opportunity for generations to come.
The school’s first cohort is set to begin in the fall of 2026, initially hosted at the University of West Alabama while the Demopolis campus is being completed. By 2027, the stateof-the-art facility will be ready to welcome students, with the goal of graduating 100 healthcare technicians annually. This initiative is not just about education; it’s about building a sustainable future for healthcare in Alabama, particularly in its rural communities.
For young professionals, particularly those in the CPA field, Rob’s experience offers a powerful lesson: your expertise is needed in every aspect of community development. By engaging in civic activities and taking on leadership roles, you can make a meaningful impact on the future of your community. In Demopolis, the efforts of one CPA have set the stage for a project that could change the landscape of healthcare education in Alabama, proving that with dedication and vision, even the most ambitious goals are within reach.
StudentCPT RECAP
Hear from accounting students Haley Heard and Abrianna Banks.
The 2024 StudentCPT Leadership Conference, hosted by the NASBA Center for the Public Trust in Louisville, Kentucky, proved to be a transformative experience for students from around the globe. Among the 45 attendees were Haley Heard and Abrianna Banks, representatives from Alabama State University in Montgomery. Both were eager to share their insights and experiences from the conference, which focused on ethical leadership, character development, and professional growth.
Haley Heard, a recent Master of Accountancy graduate focusing on Data Analytics, described the conference as “enriching and thought-provoking.” Initially unsure about attending, Haley was encouraged by her dean, Dr. Hingorani, and soon recognized the value of the event. “The keynote speeches from industry experts, interactive workshops, and panel discussions on leadership and ethics were highlights,” said Heard. As Alabama State University’s first cohort to attend the conference, Haley and her peers set a precedent for future generations of ethical leaders.
“ The discussions on leadership and ethics were crucial for my development...“
the conference and her education at ASU have laid a solid foundation for her career. With a focus on ethical leadership and a commitment to ongoing personal development, she emphasized traits as cornerstones of her professional journey.
Abrianna Banks, who also attended the conference, had a similar positive experience. Originally hesitant about the event, Abrianna found it to be one of the best decisions she could have made. “The networking and insights from seasoned leaders were invaluable,” Abrianna remarked. She noted that the conference helped her navigate her new role as an accounting supervisor at Compass Group USA, where she started as an intern. “The discussions on leadership and ethics were crucial for my development, especially in managing people older than me,” she said.
As Haley prepares for her role with KPMG and continues her journey in the accounting field, her experiences at
Abrianna appreciated the one-on-one conversations and panel discussions that provided diverse perspectives on leadership. A standout moment for her was a presentation given by Jennifer “Jenn” Bouchard, Chief People and Administration Officer for Museum of Ice Cream. “Her emphasis on listening to employees and maintaining
transparency resonated deeply with me,” Abrianna explained. She also valued the panel discussion on career paths, which offered contrasting views on job hopping versus company loyalty.
Both Haley and Abrianna highlighted the significance of networking at the conference. Abrianna particularly enjoyed connecting with fellow students from various locations, including Guam and the Caribbean, and maintaining those relationships post-conference. “The connections I made with other students and industry professionals are something I truly value,” she said.
As Haley and Abrianna continue their professional journeys, the lessons learned, and connections made, at the 2024 StudentCPT Leadership Conference will undoubtedly influence their paths. Their reflections emphasize the conference’s role in shaping the next generation of ethical leaders and highlight the impact of such a transformative experience.
ASCPA Educational Foundation Impact Report
I am thankful for your investment in my education and future. This scholarship has not only alleviated financial burdens, but has also reaffirmed my dedication to achieving my academic and career aspirations. Receiving this scholarship means more to me than just financial assistance; it is a recognition of my hard work and commitment to excellence. Your belief in my potential inspires me to continue striving for academic excellence and to contribute positively to my community. I am committed to making the most of this opportunity and in the future I hope to give back to students in a similar manner, just as you have done for me.
Jordan Parker Auburn University
ASCPA has provided much more than they know. I was studying at work, my mom’s chemo appointments, and any waking moment I had to myself. With this scholarship, I will be able to not only dedicate more time to my studies and extracurriculars, but also have more time for the things in life that allow rest and peace knowing I don’t have as much financial burden. I am forever grateful to be the recipient of such an amazing scholarship, and I hope one day I will be able to donate in order to allow another hard-working student just like myself the same opportunity.
Haley Sutherland Huntingdon College
Staci Kolb, CPA Senior Instructor of Accounting, University of Montevallo
For the past 57 years the Alabama Educational Foundation has endeavored to help Alabama’s accounting students reach their dreams of becoming a CPA through providing scholarship opportunities. We are proud to say that our organization was able to award $63,500 of scholarships to accounting students from 17 Alabama universities for the upcoming academic year.
As we all know, the profession is facing some daunting pipeline challenges exacerbated by the fact that retiring CPAs are vastly outpacing the number of CPAs entering the profession. The Educational Foundation strives to help facilitate Alabama accounting students in their journey towards achieving their CPA credential by easing the financial strains of their education. We are committed to helping tomorrow’s CPAs overcome financial adversity by raising scholarship funds through both generous donors and fundraising activities such as our cornhole tournament and a Night with Chef Hastings.
As an accounting educator at the University of Montevallo, I have seen first-hand the profound change that a scholarship can make in the life of a student…it truly can be the difference between finishing a degree and having to drop out of college to get a job. As you read through the students’ heartfelt stories in this publication and feel the gratitude expressed, please consider the opportunity that you have to impact the lives of future CPAs in our state. A monthly or one-time donation may seem inconsequential to you, but when bundled with the charitable contributions of your fellow professionals it can make a drastic difference in the life of a struggling student. Will you please consider donating today using the QR code provided?
I look forward to working together this year to strengthen our pipeline of accounting graduates while easing the financial burden on our future CPAs.
All my best,
Staci Kolb, CPA ASCPA Educational Foundation Chair
RECIPIENTS
Aspen Adems University of Mobile
Davis Allen Troy University
Patrick Anderson Univ. of Alabama at Birmingham
Memphis Baggett Troy University
Evan Bergeron University of Alabama
Taylor Kirkham University of West Alabama
Nachaka Lizubuho Alabama A&M
Kevin Martin Athens State University
Noelle Matthewson University of North Alabama Johanna Mondragon-Olvera Auburn University
Jelissa Bocage Talladega College
Ingrid Soto Campero Samford University
Lurdie Charles Jacksonville State University
Abigail Cozart Auburn University
DaMya Haddock Alabama State University
Bailey Joyner Jacksonville State University
Lydia Morrison Athens State University
Jordan Parker Auburn University
Morgan Philips University of Montevallo
Skyler Pittson Univ. of Alabama in Huntsville
Kerri Roberts Auburn University at Montgomery
Blake Smith Huntingdon College
Haley Sutherland Huntingdon College
Olivia Stewart University of Alabama
Beth Ann Tucker University of North Alabama
Amanda Vena Athens State University
Roidarrius Williams Auburn University at Montgomery
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In early 2024 a new event, Balance Sheet Bash, was held across Alabama to promote diversity in the accounting profession. The event attracted representatives from prominent organizations such as AICPA, ASCPA, Becker, BMSS, EY, FORVIS, Gleim, ITAC, Kassouf, KP, KPMG, NABA, NASBA, NSBCPA, SerivsFirst, Student Freedom Initiative, Warren Averett, and PwC. We hosted Balance Sheet Bash in Birmingham, Montgomery, and Huntsville and had over 215 students and professionals in attendance.
Attendees had the opportunity to network with firm representatives, hear from engaging speakers and build professional relationships. Over the three days, $12,000 in cash scholarships, three Becker Advantage Packages, and one Full Gleim Review System Scholarship were awarded, supporting students’ academic journeys.
Alabama Society of CPAs is committed to fostering diversity in the accounting field, we are thrilled to announce that plans are underway for January 2025. We will be in Huntsville (1/28), Birmingham, (1/29), and Montgomery (1/30) this winter! We would love to have you join us either as a student or as a sponsor! For
more information, please reach out to Caroline Hale, Director of Pipeline Strategy at chale@alabama.cpa.
Congratulations to Alabama’s newest CPA Licensees
The following individuals have successfully passed all four parts of the CPA exam - Congratulations!
Gabriella Paul Aboujaoude, Mountain Brook
Mbi Tarh Agbortarh, Laurel, MD
Amara Shay Baltimore, Mobile
Caroline Williams Blaylock, Fort Worth, TX
Zachary Borne, Florence
Kay Klancy Brewer, Birmingham
Morgan Leanna Cannon, Loxley
Christina Diane Cullers, Littleton, CO
Allison Ann Evans, Birmingham
Nicole Marie Falls, Toney
Jackson Luke Fendley, Auburn
Trisha Lea Guenther, Little Rock, AR
Jack Douglas Ingram, Montgomery
Shin Kwon Kim, Florence
Courtney Pearlene King, Loretto, TN
Stella Kiss, Birmingham
Kaleigh Anne Kwasigroh, Homewood
Christopher Brian Looney, Hoover
Jessica Baca Parker, Pelham
Jesse Michael Rasaka, New Market
Natalie Brister Russell, Montgomery
Angela Da Paula Russo, Madison
Trenace Reynolds Smith, Lillian
Emily Butler Stender, Birmingham
Summer Lee Tidwell, Andalusia
Beatrice Bear Tisher, Mobile
Eleanor Ann Vogle, Fairhope
Nathan T. Williamson, Dallas, GA
These individuals completed their fourth-and-final part of the CPA exam between Jun. 1 - Jul. 31, 2024.
50% Tuition Reduction for members of the Alabama Society of CPAs
1. Full-time employees shall receive a 50% tuition discount in eligible adult undergraduate and graduate programs taken through Faulkner.
2. Full-time employees may also designate up to two (2) other individuals to receive a 50% tuition discount in eligible adult undergraduate and graduate programs taken through Faulkner.
3. A full-time employee’s children (including step-children) shall receive:
a. a 50% tuition discount for eligible, adult undergraduate and graduate programs taken through Faulkner, or
b. a scholarship/grant award totaling a minimum of $10,000 per academic year (fall and spring) through Faulkner’s on-ground traditional program at the Montgomery campus. The minimum scholarship/ grant value over four years is $40,000.
Benefits of Faulkner’s tuition reduction:
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Abroms and Associates is proud to announce that Meagan Johnson, CPA has been selected to serve a three-year term on the Alabama Young CPA Cabinet. She joined the firm as an intern in 2019, obtained her CPA license in 2021, and was promoted to Manager in 2023. Meagan graduated summa cum laude with a Bachelor of Business Administration, and holds a Master of Accountancy, both from the University of North Alabama. While UNA, she was a member of Beta Alpha Psi honor society.
Abroms is also pleased to announce that Heidi Pham, CPA, has been promoted to Manager. She joined the firm in 2018 as an intern and obtained her CPA license in 2020. Heidi graduated magna cum laude with a Bachelor of Business Administration and holds a Master of Business Administration both from the University of North Alabama. While at UNA, Heidi was a member of Beta Alpha Psi, Phi Kappa Phi, and Delta Mu Delta honor societies.
Crow Shields Bailey is happy to report the promotion of two CPAs, Brooke Bunting and Andrew Finnorn. Brooke has been promoted to Tax Manager, and Andrew has been promoted to Audit Manager. Both individuals’ dedication to excellence, technical expertise, and hard work have made a positive impact on CBS’s team culture. Please help us congratulate this accomplishment.
Pearce, Bevill, Leesburg, Moore P.C. is pleased to announce that Karen Moore and Tony Raycraft have been named Directors of the Firm.
Karen A. Moore, CPA joined the Firm in 2002. She holds both a Bachelor and Master of Accountancy degree from Auburn University and has over 20 years of experience in public accounting. Karen specializes in small business accounting, tax services, and estate planning. Her specialty areas include closely held businesses, estates, trusts, and nursing homes. Karen lives in Leeds, Alabama with her husband John. They have two children at home and one serving in the United States Coast Guard.
Tony L. Raycraft, CPA, CGMA joined the Firm in 2013. He graduated from the University of Alabama where he obtained a Bachelor of Science in Commerce and Business Administration from the Culverhouse School of Accountancy. He has over 20 years of experience in both public and corporate accounting. His experience includes working with highnet-worth individuals and closely held businesses within a variety of industries including construction, real estate, automobile dealers, and professional service performing tax compliance, consulting, and assurance services. He lives in Vestavia, Alabama with his wife Katharine and their three sons Graham, Andrew, and Knox.
“Their dedication, ability to inspire, and commitment to quality have made a significant impact on our clients, teammates, and communities” said Carlos McDonald, Managing Director. “They exemplify our firm’s values by delivering exceptional leadership, client service, and providing mentorship. This is a well-deserved achievement.”
Machen McChesney, a leading CPA, and Business Advisory firm, announces the promotion of Tanner Roberts to Manager, Austin Duran to Manager, Eric Perry to Supervisor, Lance Meacham to Supervisor, and Lara Claire Bolling to Senior Accountant.
Tanner has been employed with Machen McChesney since 2018. Tanner’s principal areas of practice include accounting and auditing, as well as business tax. Austin has been with Machen McChesney since 2018. His principal areas of practice include business tax, individual tax, and tax planning. Eric has been with Machen McChesney since 2020 and has principal areas of practice including individual tax, business tax, and auditing. Lance has been with Machen McChesney since 2020. His principal areas of practice include individual tax, business tax, and auditing. Lara Claire has been with Machen McChesney since 2022, and her principal areas of practice include individual tax and business tax.
Paul Perry, FHFMA, CISM, CITP, CPA, CDPSE, a Member in Warren Averett’s Birmingham accounting and advisory office, has been appointed as Chair-Elect for the Alabama Society of CPAs’ (ASCPA) Board of Directors for the 2024-2025 year.
ASCPA is the professional organization representing Alabama’s CPAs. They serve the needs and enhance the values of their members, while supporting professional standards and advocating on behalf of the accounting profession. Each of the organization’s officers serves a three-year term.
“It is an honor to serve on the ASCPA’s Board of Directors as the Chair-Elect,” said Perry. “My time on the Board has already been so fulfilling, and I can’t wait to use my experience to further support the ASCPA, the Birmingham community, and other CPAs throughout the state.”
Perry joined Warren Averett in 2004. He is a Member and the Practice Leader of Warren Averett’s Risk Advisory & Assurance Services Group.
Johnson
Pham
Roberts Duran
Bunting Finnorn
Perry
Meacham Bolling
Moore
Raycraft
Perry
A Washington D.C. Update
In June, BMSS hosted U.S. Senator Katie Britt and Greg Canfield for BMSS Presents: A Washington D.C. Update. All previous webinar recordings can be found on our website!
Tax Team Training
Tax team members from all locations spent the day together training and playing putt-putt
ASCPA Annual Meeting
At this year’s ASCPA Annual Meeting our very own Cheyenne Sandlin was presented with the ASCPA’s 2024 Outstanding Young CPA award; Senior Accountant Franky Lopez spoke on a panel of young CPAs; and Member Mike Brand gave the A&A update.
Mason Murphy is named a 2024 NextGen in Money
Mason Murphy, CPA, CCIFP was named one of Birmingham Business Journal’s NextGen in Money honorees.
Alabama State Bar Annual Meeting
We have had a wonderful week spent alongside our tech company, Abacus Technologies, sponsoring the Alabama State Bar Annual Meeting!
Annual Promotions
July 1st is promotions day at BMSS and we celebrated with sweet treats at each of our offices! Congratulations to our newly promoted team members; thank you for your excellent work!
Senior Managers Retreat
Our Senior Managers and Principals had a fantastic time at their Pursell Farms retreat, with beautiful surroundings, great company and inspiring discussion!
NAWIC Annual Top Golf Tournament
BMSS Sponsored the NAWIC (National Association of Women in Construction) 5th Annual Top Golf Tournament.
Kassouf earns three national awards honoring performance, culture
Kassouf was recently honored with three national awards recognizing both the firm’s revenue growth and culture. The awards include INSIDE Public Accounting’s Top 300 Firms, Accounting Today and Best Companies Group’s Best Firms to Work For, and COLOR Magazine and Best Companies Group’s Inclusive Workplaces.
“These honors represent excellent client service, team development, and personal effectiveness, which are building blocks of our firm vision. The awards showcase our commitment to our clients and employees, creating an environment where team members can grow and develop while providing the highest quality advisory services,” said Managing Director Jonathan Kassouf, CPA, PFS.
Machen McChesney Celebrating 70 Years of Excellence in Service
We are honored and humbled to announce that 2024 marks the milestone of our company’s 70th anniversary. Established in 1954 as a bookkeeping and tax practice, we have evolved into a leading regional CPA firm, offering comprehensive accounting, tax, and advisory services. Throughout our journey, our unwavering commitment to delivering superior quality service has remained the cornerstone.
Our 70th Anniversary serves as a testament to the enduring vision and dedication encapsulated within our mission and core values. Returning Value to our clients isn’t merely a slogan; it is the tangible result of our commitment to excellence. Our clients recognize how we leverage our expertise and resources to tackle complex challenges head-on, offering proactive solutions and cultivating strong relationships.
“It is with immense pride that we celebrate this significant milestone,” remarked Mike Machen, the firm’s managing partner. “The growth and success of Machen McChesney are the fruits of developing long-term mutually beneficial partnerships with our clients and community. We appreciate the foundation laid for us and aim to continue the legacy of giving back and investing in our communities. We look
forward to the journey ahead, shaping the next 70 years with purpose and distinction.”
Machen McChesney makes the list of the Nation’s Top 500 CPA Firms
Machen McChesney, a leading CPA and business advisory firm in the region, is excited to announce its recognition by INSIDE Public Accounting as one of the Nation’s Top 500 CPA Firms and one of the Nation’s Fastest Growing Firms.
Each year, INSIDE Public Accounting releases its rankings of the top 500 CPA firms across the country, which range from multi-billiondollar Big 4 firms to prominent local and regional practices. These rankings provide a valuable benchmark for firms to gauge their standing against their peers.
Mike Machen, the firm’s managing partner, said “We are deeply honored to be named once again among the Nation’s Top 500 CPA Firms and this year as one of the Nation’s Fastest Growing Firms. This recognition reflects the unwavering dedication and hard work of our entire team. We are grateful to be acknowledged alongside some of the industry’s best.”
Warren Averett Opens Office in Daphne
Warren Averett CPAs and Advisors is excited to announce that the firm has opened an office location at 7101 U.S. Highway 90, Suite 200, Daphne, AL 36526.
Affectionately known as the “Jubilee City,” Daphne is the largest city in Baldwin County—the fastest-growing county in Alabama and a strategic location for flourishing business activity.
Baldwin County boasts a thriving aerospace community, a robust manufacturing and distribution sector, and a strong retail and hospitality environment—three industries that Warren Averett specializes in serving with accounting and advisory services.
Our team members are looking forward to deepening their connections with local industry experts, strengthening the rich environment for local entrepreneurs and continuing to apply their deep industry knowledge to benefit businesses in the region.
Daphne is one of the few places where people can experience a jubilee—a unique phenomenon during the summer months when blue crabs, shrimp and fish swim from the bay’s depths into the shoreline’s shallow waters and are scooped up and enjoyed by residents.
Our Daphne CPAs, advisors and professionals will be immersing themselves in Daphne’s rich history and scenic views. The city boasts several historical sites, including the American Sport Art Museum & Archives and the Daphne History Museum. Additionally, Daphne is home to some of the state’s most beautiful parks and natural preserves, such as the Gator Alley Boardwalk and the Village Point Park Preserve.
SELLING YOUR FIRM IS COMPLEX. LET US MAKE IT SIMPLE.
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• Chattanooga, TN Area $2.115M -SOLD
For more information contact Kathy Brents, CPA, CBI at 866.260.2793 or Kathy@AccountingBizBrokers.com. Visit us online at www.AccountingBizBrokers.com .
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• South of Knoxville CPA grossing $425K *Available*
• Nashville CPA grossing $745K *Sale Pending*
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For more information on these listings or to sell your practice, contact Lori Newcomer, CPA and Tim Price, CPA at (888) 553-1040 or PNgroup@APS.net, or visit www.APS.net.
