Busting Myths: Top 10 Messages for the Next Generation

The accounting function today seems more like a distant cousin of what it was when the parents of the current Millennial and Gen Z workers first walked the halls of their organizations. Technological advancements have done a lot to “bust” old myths about what it means to be an accountant or CPA. Yet, old stereotypes remain.

Here are the top 10 messages that members of the NJCPA Emerging Leaders Interest Group and others want communicated to the next generation:

MYTH BUSTER #1: ACCOUNTANTS CAN HAVE A GOOD WORK/LIFE BALANCE.

“While eager to enter the workforce, many students have voiced their hesitation about the path to CPA licensure and/or concern about the longevity of their future career in accounting. Such uncertainties often originate from accounting horror stories communicated by peers including unsuccessful CPA Exam attempts, demanding clients and work/life imbalance. The perception of a prosperous career as an accountant is diminished before many of these students experience their first internship or entry-level job in the field. As current CPAs, we can change this perception by sharing more stories about what keeps us excited about the profession. My passion for accounting grows with each engagement as I strive to become a cherished advisor to my clients and a meaningful mentor to the next generation of young professionals. The stories I share revolve around projects I’ve worked on that help clients and teams achieve their goals. We all have invigorating experiences we can share to inspire the next generation to enter the accounting field with confidence. No more horror stories.”

--Ryan Berdnik, CPA, CFP®, senior manager at Mazars USA

“Yes, the hours can be more around busy season or when onboarding a new client, for example, but they still have time for a social life, time to work out and even study for the CPA Exam. Yes, there is a ‘busy season’ which is busier, but there is still a work/life balance that is attained. This myth ultimately falls on employers as they need to staff appropriately to avoid burnout.”

--Nicole DeRosa, CPA, Macc, partner at Wiss

“Many who are new to the profession don’t recognize that the real opportunity as a CPA is to help people. Unfortunately, the profession is often viewed as a combination of tangible work products and long hours along with stressful tax deadlines. That isn’t very inspiring! Instead, what we are all looking for is an opportunity to make a difference in the work that we do. I’d stress to aspiring CPAs that whatever industry they begin working in, they will have the potential to make a profound difference in someone’s life — and bring solutions and stability to whatever situation it is they are facing.”

--Joseph Hunt, CPA, PSA, assurance manager at CliftonLarsonAllen

“Many firms and organizations promote flexible work arrangements, remote/hybrid work options and a healthy work/life balance. The work culture and the potential for work/life integration within the profession is of critical importance.”

--Jeremy I. Kaye, CPA, audit manager at Deloitte

“People think CPAs and accountants sacrifice personal time. Despite busy times and deadlines, CPAs and accountants enjoy flexibility and freedom in choosing when and where to work, which gives them time to focus on their personal aspirations.”

--Paul L. Peterson, CPA, managing partner at Wiss

MYTH BUSTER #2: ACCOUNTING IS A FUN JOB.

“Most people don’t think of accounting as a ‘fun’ career, but fun is so subjective because it is ultimately what you make of it. As a tax professional, I have been really fortunate to do some pretty fun things during my career. Through my direct involvement with the NJCPA, I have appeared on TV and radio and have been quoted in several noteworthy publications. On the teaching front, I have been an adjunct professor and have both attended and spoken at accounting-related conferences across the nation.”

--Nicole DeRosa, CPA, Macc, partner at Wiss

“What I love most about my job is that it is not the same thing day in and day out. The accounting profession is a profession of problem solvers, and CPAs are some of the most well-rounded individuals. Helping a nonprofit organization find ways to make their dollars go further and help more people is where I spend most of my time. If you told me as an accounting student that I’d have the opportunity to work side by side with nonprofit organization leaders to help them help more people, I’d sign up immediately.”

--Joseph Hunt, CPA, PSA, assurance manager at CliftonLarsonAllen

“I recently had the opportunity to work with the toll auditors and learn the process of how E-ZPass works both independently and in collaboration with their system. I also work with water, sewer and landfill authorities, which gives me the opportunity to always learn something new and unique about each client. Growing up, I never even knew that these entities had independent auditors, so this goes to show how diverse the accounting profession can be!”

--Lexi B. Wilson, CPA, manager at Bowman & Company LLP

MYTH BUSTER #3: MANY ACCOUNTANTS ARE EXTROVERTS WHO LOVE TO SOCIALIZE.

“Generally, most people think of accountants as introverted hermits who sit at a desk and crunch numbers on a daily basis while working crazy hours. This myth could not be further from the truth; it is the polar opposite of what people in the accounting profession actually do. There are accounting professionals who are introverts, yes, but many are extroverts who love to socialize. Whether it is with their colleagues at a company event or while working on a project, onsite at a client or with peers in the profession at networking events, one thing is for sure: Accountants are not all introverted hermits.”

--Nicole M. DeRosa, CPA, Macc, partner at Wiss

“One thing I learned early on in my career is that CPAs are some of the most passionate and driven professionals out there. So often we get mixed in with the public’s stereotypical idea of accounting; we are seen as nerdy, anti-social and boring. I can safely say CPAs are so much more than that. We are passionate about learning. Every day, we face a new challenge and work through it. Whether it is bouncing ideas off peers or doing independent research, we encourage the challenge and find the answers. We are also passionate about servicing our clients and companies. I can recall one day when I worked in public accounting and went into a client’s office to help them with some questions. Two hours later we had all the questions answered. And we also set up her Spotify!”

--Matthew J. Mojica, CPA, financial reporting specialist at Prudential Financial

“I think the biggest stereotype surrounding the accounting profession is that we are all introverted and work alone at our desks. In my experience, that could not be further from the truth! I rarely go a day without communicating with my clients, and I interact with my team daily. It is so important for accountants to have strong communication skills, as an integral part of our job is to create and build relationships with clients and collaborate with our team.”

--Lexi B. Wilson, CPA, manager at Bowman & Company LLP

MYTH BUSTER #4: ACCOUNTANTS PROVIDE HIGH-QUALITY ANALYSIS FOR BETTER DECISION-MAKING.

“Today, we get to provide higher-quality analysis faster than ever before. We would be doing ourselves a disservice if we did not acknowledge that many of the changes in our industry align with what Gen Z demands in a career. Young CPAs are being exposed to, and can exercise, professional judgement earlier in their careers thanks to basic tasks being replaced or reduced by technology. A generation that places a high degree of importance on finding meaning in their work and emphasizes entrepreneurial behavior would be attracted to a profession that advises business leaders, protects the capital markets, leverages new technology and is comprised, in part, by thousands of independent firms. It’s on us to communicate this well enough to inspire the next generation.”

--Alex Agnoletto, CPA, MSA, CFO at Blue Foundry Bank

MYTH BUSTER #5: ACCOUNTANTS ARE STRATEGIC THINKERS.

“To be a CPA in today’s economy is to be at the epicenter of the decision-making process for any business that chooses to engage with you. It means that you have taken the truest form a trusted advisor can take — one that is intimately involved in the creation and growth of a client’s income and quality of life. With some of the most significant technological advances now available, prospective CPAs are in an ideal position to unilaterally end the compliance-driven stigma current CPAs are now battling. What they now need to ask themselves is this: Are they ready to take on such a vital role and help change the course of a profession?”

--Sean P. Breheney, CPA, MBA, principal at PKF O’Connor Davies

“Accountants think critically to understand the inner workings of a business and empower clients to build a sound financial future better than anyone. Walking alongside clients during challeng- ing life stages and navigating them through uncertainty are perhaps the most fulfilling aspects of becoming an accountant. For those with a passion for serving the community, accounting is a catalyst for change, allowing accountants to make an impact and join a larger initiative, whether servicing nonprofits or volunteering on the advisory board of a local organization. Providing a level of confidence to donors and stakeholders and being called upon for technical expertise helps accountants stay relevant and respected.”

--Kim Condurso, assurance associate at CliftonLarsonAllen

“Another myth surrounding accountants is that they’re just number crunchers and tax experts. In fact, accountants play a vital role as a valued advisor to families and businesses. Let’s use football as an example. Becoming a CPA or accountant may seem like the role of the punter or kicker; both are valuable but isolated in specialized roles. A CPA or accountant is more like a quarterback, skillfully coordinating and orchestrating various elements for families and businesses alike. They step into the role of trusted advisor, guiding financial decisions with precision and finesse.”

--Paul L. Peterson, CPA, managing partner at Wiss

MYTH BUSTER #6: CAREER POSSIBILITIES ARE ENDLESS FOR ACCOUNTANTS AND

“Young professionals need to know that accounting is a dynamic profession where your professional possibilities are endless. The principles and concepts of accounting are woven throughout society — there is truly no place where accounting does not have an impact. Every business or industry needs someone who understands the fundamentals of accounting to operate successfully. From sports teams and entertainers, to real estate entities and everything in between, a strong accounting foundation is important.”

--Tara M. Baldwin, CPA, manager at WilkinGuttenplan

“Warren Buffet once said that ‘accounting is the language of business.’ Learning this language (and arguably showing your expertise of it by getting a CPA license) creates limitless opportunities for your career. Accountants are in a very unique — and advantageous — situation where they can ‘get a seat at the table’ and help businesses make key strategic decisions. There are not many other lines of work that provide as much empowerment as becoming an accountant or CPA.”

--Zachary Cohen, CPA, senior manager at CFGI

“Global experiences allow CPAs to travel and become immersed in diverse cultures and experiences as remote work becomes more universal. The CPA license offers accountants a gateway to amplified earning potential, and that upward trajectory continues throughout each career stage. Career possibilities are endless and vast for accountants and CPAs, from academia to government and beyond, and the CPA license connotes an advanced level of business savvy and proficiency. Despite the misconceptions of accounting being a boring profession, the future is dynamic and ever-changing, with tremendous potential for transformation.”

--Kim Condurso, assurance associate at CliftonLarsonAllen

“Accounting offers a wide range of career opportunities beyond traditional roles. It is not just about bookkeeping and crunching numbers all day. CPAs play critical roles in areas such as financial analysis, strategic planning, risk management and consulting. The varied career paths and growth potential are key advantages of the accounting profession.”

--Jeremy I. Kaye, CPA, audit manager at Deloitte

MYTH BUSTER #7: ACCOUNTANTS AND CPA s HAVE MANY WEALTH-BUILDING OPPORTUNITIES.

“Let’s talk about the rewards. I’m not sure why, but accounting is underrated in terms of pay. The reality is that it is a highly compensated field with wealthbuilding opportunities. I’ve never met an unemployed CPA!”

--Paul L. Peterson, CPA, managing partner at Wiss

“Being a CPA gives us the freedom to live the lives we want! With the high pay and great flexibility, we are able to travel, go to music festivals, work anywhere in the world and pursue our passions! CPAs aren’t boring number pushers; we are passionate individuals who love learning, challenges, servicing our clients and chasing what makes us happy.”

--Matthew J. Mojica, CPA, financial reporting specialist at Prudential Financial

MYTH BUSTER #8: ACCOUNTING OFFERS THE ABILITY TO SHIFT CAREERS.

“Going into accounting means that you have a knack and understanding for business. This creates many career opportunities or potential mid-career shifts because, in the end, you have the basis for being proficient in business (i.e., accounting). It has allowed me to work across the country and the world providing professional services both as an internal and external consultant. In the early stages of my career, I was in audit. I am currently in tax and advisory services. Not many careers could have provided such opportunities and career shifts in my technical service offering.”

--Robert Premselaar, CPA, owner at Premselaar CPA LLC

MYTH BUSTER #9: DEMAND FOR NEW CPA s TO REPLACE BABY BOOMERS IS HIGH.

“With more and more CPAs from the Baby Boomer generation retiring, the demand for new CPAs to take their place has never been higher. Adding this to the already known benefits of job security, limitless earnings potential and the prestige that comes with a CPA license, it seems like a no-brainer for young professionals to consider this line of work.”

--Zachary Cohen, CPA, senior manager at CFGI

MYTH BUSTER #10: THE REWARDS OF ACHIEVING THE CPA LICENSE ARE WORTH THE COMMITMENT.

“Firms are evolving to meet the changing needs of their staff — even more so than other professional services. Young professionals also need to know that the CPA Exam should not scare them. Yes, it is a challenging exam. Yes, it involves a personal investment and commitment of both time and money. However, the reward of achieving this designation and the esteem that comes with it, as well as the opportunities, is well worth the commitment.”

--Tara M. Baldwin, CPA, manager at WilkinGuttenplan