CPA2b Magazine - Spring 2024 by WICPA

SPRING 2024 | VOL. 19, NO. 2

Soaking Up Knowledge Adam Vincent 4

Plus... BUSTING MYTHS

AI AND ACCOUNTING

THE NEW CPA EXAM

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Spring 2024 | Vol. 19, No. 2 A publication of the WICPA Educational Foundation, Inc. | wicpa.org

18 focus on the CPA Exam CPA Exam changes and your career The 2024 CPA Exam is officially here, and you can now tailor your testing experience to your interests by selecting a preferred “discipline.” Find out what it means for you. By Peter Olinto, CFA, JD, CPA

22 professional perspectives

4 Adam Vincent

CONTENTS 4

member profile

Soaking up knowledge Adam Vincent, currently a junior accounting and information systems major at UW–Whitewater, will be far from the stereotypical CPA when he passes the exam after graduation. And he will pass, probably on the first try. By Marcia Tillett-Zinzow

focus on accounting Accounting is cooler than you think You probably weren’t dreaming of being an accountant when you were a kid. But now that you’re here, there are some things you ought to know about accounting. By Chris Spurio, CPA, CGMA

12 focus on myths Debunking the myths about CPAs This article shatters common misconceptions to provide a clearer understanding of the accounting profession and the valuable contributions of CPAs. By Chad Durkee, CPA

Destination CPA Four young professionals share their career paths and provide insight into what it’s like to be a CPA, whether in public accounting or industry. By Tyler Holentunder, CPA; Siobhán Heiss, CPA; Garrett Pynckel, CPA; and Alex Tetzlaff, CPA

28 looking back Note to self A seasoned professional writes a letter to her college-student self to reassure her that she’s choosing the right career. By Janet Egan, CPA

30 career preparation: using LinkedIn Make your LinkedIn profile work for you Five insights and best practices to boost your profile and ensure its credibility, appearance and status to keep you in front of those connections that matter most. By Stephanie Goudzwaard

34 career preparation: interviews Before and after the interview Preparing for the interview is only one step in the process of snaring a job. What you do after the interview is just as important as what you do before and during the interview. By Tori Spencer

14 focus on technology The AI revolution: Transforming accountants’ roles Will AI make accountants obsolete? Not by a long shot. It’s actually an opportunity for accountants to evolve, improve, advance and differentiate. By Sean P. Breheney, CPA, MBA

DEPARTMENTS 27 Welcome new members 37 Career planning CPA2b Spring 2024 | wicpa.org

2023-2024 WICPA Educational Foundation Board of Directors: President Paul J. Frantz, CPA Secretary/Treasurer Jeff Dewane, CPA, CGMA, CMA, MBA Directors Mark Bichler Janet J. Egan, CPA Jon C. Gaines, CPA, CGMA, MBA Kale Post, CPA, MPA Bret J. Priaulx, CPA, MBA Gina C. Skibo, CPA Jidong Zhang WICPA Board Liaison Lucien A. Beaudry, CPA, JD WICPA President & CEO Tammy J. Hofstede

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CPA2b is a biannual publication of the Wisconsin Institute of Certified Public Accountants. Change of address should be sent to: Membership, W233N2080 Ridgeview Parkway, Suite 201, Waukesha, WI 53188; Phone: 262-785-0445; Fax: 262-785-0838; email: comments@wicpa.org. Statements or opinions expressed are those of the authors and not necessarily those of the WICPA. Publication of an advertisement does not constitute an endorsement of a product or service by CPA2b or the WICPA. Articles may be reproduced with permission. © Copyright 2024 CPA2b.

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Soaking Up

Knowledge

By Marcia Tillett-Zinzow

ave you ever known anyone who has gotten a tax credential before they even entered their third year as an accounting major? If you know Adam Vincent, you do! Adam is a third-year UW–Whitewater student majoring in accounting. He’ll graduate in May 2025 and then plans to go to UW–Madison to earn a master’s degree in taxation. The 4.0 GPA student, who has been on the Dean’s List every semester, became an “Enrolled Agent” last September because he wanted to learn as much as possible about tax and wouldn’t have another tax class until the next year. The Enrolled Agent credential is awarded by the Internal Revenue Service to those who have passed a comprehensive three-part exam covering individual and business tax returns. The credential is also awarded to those with past experience as IRS employees. Those folks don’t need to pass a test. But Adam did need to pass the test, and so he studied — which is something he actually really enjoys. “I had some extra time, so I thought, why not put my extra time and effort into learning as much as possible,” he said. “The material I studied for the exams is really interesting content.” Adam has a self-described obsession with learning and thinks of himself as a “sponge of knowledge.” When he has free time, he looks for new ways to learn and new topics to learn about. “I love throwing on a free college lecture if I can find one or a podcast or just doing research on anything and everything. I love learning,” he said. While some students are focused on grades, Adam is more focused on actually learning and

“

I love throwing on a free college lecture if I can find one or a podcast or just doing research on anything and everything. I love learning.”

understanding the material. He doesn’t excel because he’s super smart and easily gets all As without having to study; he excels because he works hard at studying — and with a positive attitude. “If you stay focused on learning the content and really understanding it, the grades kind of come naturally. I used to be hyper-obsessed and stressed with getting perfect grades, but I’ve become much more realistic now and try to focus on what’s important. So I’ve become much less stressed about grades,” he said.

Fascinated by accounting When asked why he chose to major in accounting, Adam noted that he has the analytical skill set for it and also thinks tax laws are endlessly fascinating. “Growing up, I always had this passive interest in politics and law, and I always thought business and tax were the most fascinating parts of all that,” he said. CPA2b Spring 2024 | wicpa.org

“

Doing hard things is a good way to build character, and the CPA Exam just sounds like a really worthy challenge — to say the least.”

He is also fascinated by the way people think about money and finances. “It’s just so interesting — I want to put myself into that world so I can understand as much of it as possible. Wanting to understand just a little bit more of the world is what gets me out of bed in the morning, I guess, and finances and business are a huge part of the world.” Tax is the area Adam wants to specialize in after he graduates from school. He plans to take the CPA Exam; he doesn’t see the point in getting an accounting degree and not taking the exam, which enables those who pass it to secure all the benefits of making a good living in a satisfying and distinguished career. “I don’t think I could major in accounting and get into the workforce and know that I could be doing something better, something more challenging, but I chose not to,” he said. “So that’s the motivation. Doing hard things is a good way to build character, and the CPA Exam just sounds like a really worthy challenge — to say the least.” One of the reasons some students choose not to take the CPA path or go into public accounting is

CPA2b Spring 2024 | wicpa.org

“busy season,” the months prior to the April 14 tax deadline, when CPAs’ workloads are the highest. It’s true they work long hours during those few months to help clients comply with tax-filing and financialreporting requirements. But Adam can’t wait to experience it. This semester, he is working as an intern with Sikich LLP, a global CPA firm with a local office in Brookfield, and will get his first taste of busy season there. “I’ve heard so many nightmares or hellish stories about busy season being super stressful and super long hours, and that doesn’t deter me. That just makes me excited,” he said. “I really just want to throw myself at a busy season and see how stress resistant I am and how stress resistant I can become. So, busy season sounds super fun to me, and I want to see if I can enjoy it. Enjoying hard things in life is a very good skill to have.”

A passion for music There’s a keyboard in Adam’s dorm room, and he plays it 30 to 40 minutes every day. When he was in high school, he was in the brass band, on the

drumline, and in the pit orchestra for a couple of musicals. “Music is a passion for me,” he said. During his sophomore and junior years in high school, he and several other members of the drumline volunteered to teach kids to play instruments at a week-long band camp for fifth graders. They directed events at the camp and gave private lessons to the kids. It reminded Adam of his own experience as a fifth grader just learning to play and how much he loved and was inspired by his own volunteer music teacher. “I was thinking I might be in that position for another student. It’s a good thought process to have and just a simple way that I can serve my community,” he said. “Learning music is so cool, and teaching a kid to play music — he or she might literally spend hundreds or thousands of hours playing and enjoying music for the rest of their life. I think music really enriches your life.” Everyone in Adam’s family has, in fact, enriched their lives with music. Musical talent runs in the Vincent family. Adam’s father, Rich, the Pastor at Immanuel UCC in West Bend, has inspired his son on many levels. Currently, he’s using his spare time to teach himself to play electric guitar. Adam said he practices for hours every day, commenting, “l think he really wants to shred1 before he dies.” Adam also has two accomplished older siblings. His older sibling, Quinn, just graduated from the Vocal Arts program at Lawrence University in Appleton. “Quinn’s got a killer voice. It’s so strong and fun to listen to. It’s very operatic,” Adam said. His sister, Carmen, recently won a Chicago Emmy Award for a documentary film she made. “She’s a very successful filmmaker, and I’m very proud of her,” he said. Adam’s mother, Elizabeth, played classical guitar during her childhood and was in the band and marching band throughout high school and college. After college, she had a varied and vibrant career working as a model when she was in her 20s, living in France for a while before majoring in recreation at Indiana University–Bloomington and eventually working in business. Sadly, she now has dementia and lives in a memory care center. But she gave

Adam keeps a keyboard in his dorm room and plays every day for 30 to 40 minutes for relaxation.

Adam some wonderful memories during her active years and always was supportive of his endeavors, especially the musical ones. “She bought my instruments and paid for all my music,” he recalled. “I remember telling her before I went to college that I really wanted to be a CPA — that I wanted to go through accounting and learn all this stuff. She was so supportive,” he said. “Sometimes when I’m working on my accounting homework, I think, Boy, my mother would be really proud of me right now. She loved the idea of her son being a CPA.” Marcia Tillett-Zinzow is a Wisconsin freelance writer and editor. Contact her at mtzinzow@icloud.com.

1 According to Wikipedia, “Shred guitar includes fast alternate picking,

sweep-picked arpeggios, diminished and harmonic scales, fingertapping and whammy bar use.” https://en.wikipedia.org/wiki/Shred_guitar

CPA2b Spring 2024 | wicpa.org

FOCUS ON ACCOUNTING

Accounting Is

COOLER Than You Think

By Chris Spurio, CPA, CGMA

et me start with this: I know.

I know that when you were a kid, dreaming about what you wanted to be when you grew up — I know you didn’t say “accountant.” Me, I wanted to be an NFL quarterback. Then an air traffic controller. CPA never crossed my mind. Believe me, I know. I know that even recent college grads [and current students] — like you, who are

CPA2b Spring 2024 | wicpa.org

reading this — aren’t clamoring to be accountants anymore. An estimate from 2021 showed that the new “CPA pipeline” was the lowest it had been in more than a decade. Over 300,000 accountants and auditors have quit in the past two years, and 75% of today’s public accounting CPAs will retire in the next 15. You know things are really bad when The Wall Street Journal runs an article with the headline, “How Can We Make Accounting Cool?” (The answers, unfortunately,

were pretty thin: raise salaries, showcase practitioners who also play guitar, screen a 2016 Ben Affleck thriller called — you guessed it — The Accountant.) I’m not here to lie to you. Your dinner party guests won’t be enthralled when they hear stories about the time you spotted an error in a company’s 10-Q. Kids will not sit in rapt attention on Career Day when you share the findings of a recent audit. I am, however, here to tell you that #accounting is a noble profession that impacts the lives of countless people. It’s also evolved in exciting ways these past few years — and is not nearly as “boring” or “vanilla” as those dinner guests might think. Here’s why.

ACCOUNTING MAKES A REAL IMPACT IN PEOPLE’S LIVES FTX, Silicon Valley Bank — at any moment, it seems there’s another financial scandal with devastating consequences. Early in my own career, I worked on a client that was a large community bank. Unfortunately, the leaders of that organization were far too sophisticated for their own good and ended up investing in highrisk instruments that resulted in the bank going into government receivership. They had sold hundreds of millions of dollars in notes to people in the community — all of which were wiped out. People’s livelihood, savings and retirement were gone in a flash. This is largely why accountants exist: to prevent crises and help individuals, businesses and communities prepare for a better tomorrow. During COVID, for instance, we helped local businesses and nonprofits claim the Employee Retention Tax Credit, ensuring they can secure refunds that enable them to cover pandemic losses, reinvest in their employees, rejuvenate their businesses, and mitigate inflationary threats. And accountants will increasingly take over responsibility for integrating ESG into a business’s decision-making, handling reporting efforts to help make these investments a reality.

ACCOUNTANTS ARE NO LONGER JUST “BEAN COUNTERS” In fact, we’re increasingly being called on to drive big-picture solutions for revenue growth, technology integration, corporate sustainability and more.

Consider the typical day of an accountant who works with me: • Meeting with our chief innovation officer about using ChatGPT and other AI technologies to accelerate our learning, improve our accounting solutions, and enhance our client deliverables. • Coaching a leader on how to activate our teams to respond to new market opportunities. Change is constant in our profession, and we will continue to need leaders who can quickly mobilize our teams for impact. • Providing a client with strategies for powering through a slow-growth economy. Recession or not, today’s high interest rate environment can be challenging – but it can also unleash fresh ideas for managing costs and increasing revenue to fund growth opportunities. • Partnering with a community organization to help them amplify their mission and impact. We’re as good at preparing meals at a Ronald McDonald House as we are teaching financial literacy courses in middle schools. • Mentoring a new graduate. Clients have needs in so many different areas, from forensic accounting, fraud prevention and cybersecurity to growth projections, stock offerings and more. My team regularly works with new graduates to figure out where their skills and passions align with client needs. • Brainstorming with private equity dealmakers on how to fast-track merger and acquisition plans. CPA2b Spring 2024 | wicpa.org

We’re also not stuck in the Excel era anymore. Like other industries, CPAs are adopting cuttingedge technologies, from automation and artificial intelligence to data analytics and visualization platforms. We’re investing in technology like never before, while also doubling down on training at all levels of our organization.

ACCOUNTING IS GETTING MORE DIVERSE AND COMMUNITY FOCUSED A 2019 report found that 42% of accounting graduates were from an ethnic minority — over 10 percentage points higher than a decade earlier. Yet the data also showed that total minority hiring by U.S. CPA firms has remained flat since 2012. While there’s significant room for improvement, you should know that accounting leaders are taking note of this disparity. At CBIZ, for instance, we’ve added new employee resource groups to support BIPOC and LGBTQ+ staff and are continually looking for new ways to connect, collaborate and engage with one another. Accountants and #finance chiefs are increasingly focused on community engagement as well. A client of ours, for instance, is a longtime CFO for an HVAC company and, like so many other business leaders today, faced a new demand from employees: the need for purpose and meaning in their work. Being in the business of selling heating and air conditioning equipment, it wasn’t immediately obvious what this might entail. Yet the company took the need seriously and went on to develop a community outreach program to upgrade HVAC systems at public schools. The CFO told us it created unity amongst his team, drove recruitment and retention, and made a real difference in their community.

WE’RE MORE THAN JUST ACCOUNTANTS We may not be moonlighting as a contract killer like Ben Affleck in The Accountant, but we’re anything but boring. I work with accountants who paint, skydive, run nonprofits, fly planes, do stand-up comedy, wish they did stand up-comedy, and more. But even if I can convince you that we’re cool (we are!), it doesn’t mean you’ll think our profession is. That’s on us. I for one am here to say that what we do matters. That you can help people avoid enormous difficulties and realize their greatest dreams. That 10

CPA2b Spring 2024 | wicpa.org

“

I for one am here to say that what we do matters. That you can help people avoid enormous difficulties and realize their greatest dreams. That you can make a real difference, with great groups of diverse people and exciting, innovative technologies.” you can make a real difference, with great groups of diverse people and exciting, innovative technologies. I know you don’t think accounting is the coolest profession out there — I know. But maybe, just maybe, it’s more exciting than you think. Chris Spurio, CPA, CGMA, is president of CBIZ Financial Services. This article first appeared on LinkedIn as “Dear recent Grads” and is reprinted here with the author’s permission.

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FOCUS ON MYTHS

Debunking the Myths About CPAs

ertified public accountants play a vital role in the financial well-being of businesses and individuals. Despite their significance, several myths surround the field of accounting and the professionals who work within By Chad Durkee, it. In this article, we will debunk CPA some common misconceptions to provide a clearer understanding of the accounting profession and the valuable contributions of CPAs.

MYTH 1 u Only CPAs can work in public accounting.

While being a CPA is highly valued in public accounting, it is not the sole requirement for working in the field. Public accounting firms appreciate a diverse set of skills and qualifications beyond a CPA certification. While CPAs are sought after for their proven expertise in auditing, taxation and business consulting, individuals with specialized skills in areas like forensic accounting or management accounting also find meaningful roles in public accounting. When hiring professionals, firms consider a combination of educational background, relevant experience and industry-specific experience. Most public accounting firms have departments that specialize in payroll and bookkeeping, and a technical college degree or relevant experience is required to be part of those teams. All levels of experience are necessary to efficiently and effectively complete the accounting tasks required by clients. This need for a variety of qualifications makes public accounting a truly dynamic field.

MYTH 2 u CPAs provide only tax services. The expertise of CPAs extends far beyond tax season. Not all CPAs work in public accounting. There are many opportunities in the private sector. CPAs are highly 12

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trained financial professionals capable of offering a wide range of services to their clients or private employer. Beyond tax-related matters, CPAs often serve as trusted advisors in various financial areas, including auditing, forensic accounting, internal management accounting and business consulting services. Their comprehensive skill set allows them to assist clients in making informed financial decisions that align with both short-term objectives and long-term goals. Ultimately, CPAs are not solely focused on tax season but are committed to providing continuous support to individuals and businesses in navigating the evolving financial landscape. CPAs work diligently to ensure their clients’ finances are in order year-round. Additionally, CPAs offer valuable insights into financial decision-making and guidance on investments, budgeting and overall fiscal management. In addition to public accounting and private companies, CPAs also work in education, government, nonprofits — even sports operations such as the Milwaukee Bucks and Green Bay Packers. The opportunities for accountants, especially CPAs, are vast and varied.

MYTH 3 u All CPAs are the same. All CPAs are not created equal. A CPA working in public accounting typically is vastly different than a CPA working in private industry, education or government. CPAs who work in public accounting specialize in a specific area (typically tax, auditing or business consulting). A CPA working in private industry may choose to work for a Fortune 500 company, a small family-owned business or a mid-sized regional business. The experience of working there and the financial reporting required is immensely different. Also, contrary to popular belief, not all accountants are CPAs. Becoming a CPA involves meeting specific education and experience requirements, passing a

introversion (as in every other profession), most are excellent communicators and collaborators. Accountants regularly interact with clients, colleagues and other departments, and this requires effective communication skills to convey financial information accurately and comprehensively.

MYTH 5 u Accounting is all about math.

“

The ability to think critically and creatively is an integral part of an accountant’s tool kit.” rigorous four-part exam, and adhering to ethical and professional standards. CPAs have a higher level of expertise and are often involved in complex financial matters, such as audits, tax planning and consulting.

MYTH 4 u Accountants are introverted and not creative.

Some people believe that the analytical nature of accounting leaves no room for creativity. On the contrary, CPAs often need to think creatively to find solutions to complex financial challenges. Developing innovative strategies for tax planning, financial reporting and cost management requires a creative mindset. CPAs must be skilled at creative problem solving. They have to navigate through intricate financial scenarios, offering innovative solutions that go beyond number crunching. The ability to think critically and creatively is an integral part of an accountant’s tool kit, enabling them to adapt to rapidly changing business environments. As for being introverted, while some individuals in the accounting profession may lean toward

One prevailing myth is that accounting is solely about numbers and mathematical equations. While mathematical skills are undoubtedly important, accounting is a multifaceted discipline that involves interpretation, analysis and communication. Modern accounting systems and software have significantly reduced the manual calculations, allowing accountants to focus more on interpreting financial data, providing insights, and advising on strategic decisions. CPAs are not just number crunchers; they are financial strategists who understand the broader business landscape.

MYTH 6 u Accounting software makes accountants obsolete.

The rise of accounting software has led some to believe that traditional accountants are becoming obsolete. While accounting software can automate routine tasks and improve efficiency, it cannot replace the expertise and judgment of a qualified accountant. CPAs use their knowledge to interpret financial data, provide strategic advice, and ensure compliance with ever-changing regulations. Technology has empowered CPAs to provide more value to clients by offering sophisticated insights and advice.

Closing Dispelling the myths about accounting and CPAs is essential for fostering a deeper understanding of the profession’s true nature and importance. Accounting is not just about numbers; it’s a dynamic field that requires a diverse skill set, including analytical thinking, strategic planning and creativity. Certified public accountants, as highly trained professionals, play a pivotal role in guiding businesses through financial challenges and ensuring compliance with regulations. Whether in public accounting or private industry, whether you are introverted or extroverted, the accounting profession has a place for you to learn and grow both personally and professionally. Chad Durkee, CPA, is co-owner of Elevate Accounting LLC in Oshkosh. Contact him at 920-385-6342 or chad@elevateaccountingllc.com.

CPA2b Spring 2024 | wicpa.org

FOCUS ON TECHNOLOGY

The AI Revolution: Transforming Accountants’ Roles

By Sean P. Breheney, CPA, MBA

espite having a historical reputation as a relatively conservative profession, accounting has been steadily shifting to embrace technological advancements, the most relevant of which is artificial intelligence (AI). Specific to the accounting industry, AI is used to automate repetitive, high-volume and time-consuming tasks traditionally performed by humans. These tasks include data entry, reconciliation, classification and analysis of financial transactions. Functions such as tax preparation automation and financial statement audit testing have also become targets of AI implementors. If implemented the right way, AI has the potential to significantly improve efficiency and reduce costs for the accounting industry while freeing up professionals’ time to focus on higher-level, value-added engagements.

CPA2b Spring 2024 | wicpa.org

Machine learning The impact of machine learning on the steady evolution of AI cannot be overstated. As algorithms are created to learn from provided data, the process of machine learning has enabled the automation of repetitive tasks that have historically taken up a great deal of an accountant’s billable time. With such processes in place, accounting firms are able to speed up decision-making processes while simultaneously lowering associated costs. While the financial ability to invest in higher levels of machine learning is generally restricted to the major firms, smaller firms can use prebuilt machine learning software to implement the same processes on a smaller scale. Machine learning will have a direct, positive impact on the future importance of advisory

“

With lower-level tasks and processes now automated, job functions will change, and accountants will find ways to add higher levels of value in other practice areas.” By automating compliance processes, AI helps accountants save valuable time and effort, prompting the exploration of new specialties. With lower-level tasks and processes now automated, job functions will change, and accountants will find ways to add higher levels of value in other practice areas. They will be able to focus on the human element, allowing them to stand out from their peers.

The impact on accounting jobs

services. With time requirements within both auditing and tax compliance processes significantly reduced, advisory services has seen and will continue to see a significant rise.

How AI can help While there may be an overarching concern about AI’s potential to replace or eliminate many human aspects of the accounting industry, it offers a more intuitive approach to data analysis that can eliminate the impact of human error and provide accurate, precise and consistent results. The use of AI can also help companies comply with laws and regulations, as it can recognize patterns and detect anomalies that suggest noncompliance. This will be seen most prominently within the audit industry in the overall reduction of fraud risk.

This is the big question people have when it comes to the development of AI within the accounting industry: What will happen to the jobs? One significant impact of AI on the accounting profession is the perception of inevitable job displacement. This notion has gained some steam over the last several years as the accounting profession has experienced the steady automation of previously manual, time-intensive tasks. For example, before the emergence of AI, individual bookkeepers were relied upon to classify transactional information leading to the formulation of an organization’s books and records. They have also historically been counted on to reconcile individual accounts on a monthly basis. These processes are (and have been) time intensive, delaying an organization’s monthly close by days or even weeks. With AI and machine learning in place, these tasks have been automated, freeing up accountants and bookkeepers to focus on highervalue tasks. This technology has also been implemented in processes such as accounts

CPA2b Spring 2024 | wicpa.org

receivable and payable, as well as the generation of routine financial reporting. In the world of auditing, AI programs are currently being used to test audit samples. With the efficiency that AI creates in this process, auditors are able to test larger samples (if not 100%) of applicable transactional information. This allows them to focus on higher-risk audit areas, raising audit quality while simultaneously reducing audit-related costs. Success in this evolving industry can and will be found by those professionals who are willing to buy into developing AI technology in addition to being able to adapt and leverage the opportunities that will arise. With the understanding that current and future accountants will need to develop skills that go beyond those considered to be traditional accounting, early adopters of new technology such as AI will give accountants the ability to make themselves stand out, becoming an irreplaceable talent within the industry.

The bottom line: Should we be worried? The short answer is “no.” Of course, the longer answer comes with a caveat. AI will inevitably continue to leave its mark on the accounting industry and its professionals in the coming years. The generation of precise, transparent financial data will be critical to both the integrity and reliability of financial reporting, and, with AI, it can be achieved consistently — creating a new purpose for roles within the profession. It is only natural that current (and future) accountants are concerned about the establishment of AI within the accounting industry. However, it’s important for them to recognize that it is not necessarily a direct threat to their livelihood. It is an opportunity for them to evolve, improve, advance and differentiate. Current and future AI tools, for the most part, will take over the “low-hanging fruit” — basic tasks and processes that do not require a human element. This will allow those accountants to focus on higher-level tasks that rely upon human expertise. With innovation comes change, and accounting professionals desiring to be at the forefront of this movement need to be willing to stay abreast of the

CPA2b Spring 2024 | wicpa.org

“

With innovation comes change, and accounting professionals desiring to be at the forefront of this movement need to be willing to stay abreast of the latest AI advancements ...” latest AI advancements and work collaboratively with technology to stand out amongst their peers and establish themselves as true irreplaceable assets. Sean P. Breheney, CPA, MBA, is principal at PKF O’Connor Davies, one of the top 25 CPA firms on Accounting Today’s 2023 “Top 100 Firms” list. Contact him at sbreheney@pkfod.com. This article was reprinted from New Jersey CPA magazine and is used with permission of the New Jersey Society of CPAs.

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FOCUS ON

THE CPA EXAM

2024 CPA Exam Changes and Your Career

T By Peter Olinto, CFA, JD, CPA (inactive)

he 2024 CPA Exam is officially here, and with it comes a more focused assessment of your technical abilities as an accountant. Additionally, you can now tailor your testing experience to your interests by selecting a preferred “discipline.” But what exactly does this mean, and how will it impact your career?

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STRUCTURAL CHANGES TO THE CPA EXAM

You’ll still be expected to know traditional CPA concepts on your exam, but the 2024 CPA Exam keys in on the more technological aspects of accounting. This is important because it better aligns the exam with today’s industry requirements and keeps your certification relevant.

EXAM DISCIPLINES AND YOUR CERTIFICATION This brings us to disciplines. If you’re like most students, your first question goes something like, “Does the discipline I choose change my CPA certification?” Short answer: No. Longer answer: No matter which discipline you choose, your CPA certification will be the same as for every other candidate who passes the exam. The AICPA created disciplines for a couple of reasons: Before I dive into the implications of the new 2024 CPA Exam, let’s take a look at the structural changes you can expect as a candidate. The biggest difference is the elimination of Business Environment and Concepts (BEC) in favor of disciplines. Of the three disciplines, which include Business Analysis and Reporting (BAR), Information Systems and Controls (ISC), and Tax Compliance and Planning (TCP), you must select one. And as with past exams, you’ll still be required to take a few familiar sections that have been relabeled as “cores”: • Auditing and Attestation (AUD) • Financial Accounting and Reporting (FAR)

1. To add value to the CPA designation by requiring a level of specialization 2. To test candidates on an area that more closely aligns with their career goals Because your CPA certification will be the same regardless of your selected discipline, you don’t need to know what you’d like to specialize in, but the option is there.

SELECTING A DISCIPLINE BASED ON YOUR CAREER A great way to think about disciplines is to consider them as extensions of the three cores:

• Regulation (REG) So while the new exam format may appear confusing at first glance, you’ll simply be replacing BEC with a discipline of your choice.

ADDRESSING A TRANSFORMING WORKPLACE The CPA Exam was restructured because the accounting profession itself is in a state of flux. Newer technologies in accounting are leading to productivity optimization and automation. As a result, CPAs will generally be burdened with less task-oriented work and shift to business advisor-style roles.

With this in mind, I highly recommend that you plan to take your selected discipline sometime after its associated core. When viewed this way, it becomes easier to picture what specific careers apply to each discipline. And don’t worry; I completed that analysis for you.

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BUSINESS ANALYSIS AND REPORTING (BAR) The BAR discipline is an extension of FAR, but includes a lot of previous BEC exam content. It’s designed to evaluate your knowledge of financial risk management and planning techniques with an emphasis on data analytics. Put another way, FAR tests the foundational aspects of financial reporting, while BAR covers more complex and specialized knowledge areas.

BAR Content Area

Allocation

Area I

Business Analysis

40% to 50%

Area II

Technical Accounting and Reporting

35% to 45%

Area III

State and Local Governments

10% to 20%

measuring, analyzing and interpreting financial data • Governmental accounting: Managing government finances and ensuring funding policies and laws are followed

INFORMATION SYSTEMS AND CONTROLS (ISC) The ISC discipline is an extension of AUD but includes some of the previous BEC exam section. AUD primarily tests your knowledge of financial statement auditing. ISC focuses on system and organizational controls (SOC) and compliance attestation or consulting engagements, especially related to security, availability, processing integrity, confidentiality or privacy.

ISC Content Area

Allocation

Area I

Information systems and data management

35% to 45%

Area II

Security, confidentiality and privacy

35% to 45%

Area III

Considerations for SOC engagements

15% to 25%

CAREERS ASSOCIATED WITH BAR

CAREERS ASSOCIATED WITH ISC

• Advisory services: Developing conclusions and recommendations for clients to consider when making business decisions • Financial analysis and reporting: Judging the performance of a company’s projects, budgets and cash flows • Financial operations: Managing the finances of an organization from day-to-day budgeting to large-scale financial planning • Managerial accounting: Helping an organization make sound decisions by finding,

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• System and organization controls (SOC): Financial and security reporting services related to system-level controls of service organizations or entity-level controls of others

• Advisory services: Offering expert advice, solutions and strategies to help business owners achieve their financial and operational goals

CAREERS ASSOCIATED WITH TCP

• Internal auditing: Assessing an organization’s internal controls, corporate regulations and accounting processes for accuracy and legal or regulatory compliance • Governance, risk and compliance (GRC): Improving efficiencies and decision-making related to how an organization does business, risk, and laws or regulations • ERP and data management: Maintaining and verifying the accuracy of financial and accounting data within an organization’s enterprise resource planning (ERP) system

TAX COMPLIANCE AND PLANNING (TCP) The TCP discipline is an extension of REG. In short, REG tests your general understanding of taxation and regulations, while TCP digs deeper into tax and financial planning as well as nonroutine and complex tax issues.

TCP Content Area Area I

Allocation

Tax compliance and planning for individuals and personal financial planning

30% to 40%

Area II

Entity tax compliance

30% to 40%

Area III

Entity tax planning

10% to 20%

Area IV

Property transactions (disposition of assets)

10% to 20%

• Financial advisor: Providing financial advice on topics such as estate planning, risk management, retirement planning, tax planning, investing and more • Tax consultant: Advising clients on tax-related matters, which could include minimizing tax liability, preparing tax returns, representing clients during audits and similar service • Tax preparer: Preparing and filing tax returns for individuals or organizations • Tax auditor: Analyzing financial records to verify that an individual or organization has complied with applicable tax laws • Wealth manager: Providing a variety of financial services to clients, such as budgeting, investment management, tax advice, estate planning, managing savings and more

A CERTIFICATION FOR THE MODERN ACCOUNTANT By shifting the CPA Exam’s focus to the more technical aspects of accounting and requiring candidates to pass a specialized discipline, the AICPA aims to uphold the value of the CPA designation. As a candidate, the best thing you can do is choose a discipline that aligns with where you’d like to take your career. This will give you deeper insight into your intended profession and prepare you to excel in the workforce. Peter Olinto, CFA, JD, CPA (inactive), is the global lead instructor for UWorld Accounting and Finance. He has taught CPA and CFA exam review courses for more than 20 years. Contact him at polinto@uworld.com.

CPA2b Spring 2024 | wicpa.org

PROFESSIONAL PERSPECTIVES

DESTINATION CPA

DESTINATION CPA A regular feature profiling young professionals

who provide their insights about what it’s like to work as a CPA in public accounting or industry

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Tyler Holentunder, CPA, MAcc Job title: Controller l Employer: New Berlin Plastics

What influenced your decision to become a CPA? I had fantastic professors in my undergrad program at Carthage. They piqued my interest in the certification and showed how useful it could be across many business settings. How did you complete the 150 hours necessary to take the CPA Exam? My college program set me up for success, and I also partook in a master’s program to stay determined to sit for and pass the exam. What are some dead-wrong assumptions people make about CPAs? That all CPAs do taxes — it is not something I particularly enjoy, but I know it is useful! Another assumption is that CPAs are “boring.” CPAs are some of the most exciting people I’ve interacted with, both personally and professionally. What’s the best part about your current job? Working at a small firm, the breadth of different tasks required to maintain the books accurately has given me a well-rounded skill set. And the tasks change every day.

What surprised you the most when you started your job? The variety of opportunities to specialize in niche areas if desired; but also the ability to stay with a “big picture” approach. What’s the best thing about being a CPA? Being a part of a community that is well-respected and people who are committed to their careers. What do you like most about the organization you work for? The sense of camaraderie within the organization. It is a pleasure to work with these people! I also find the products we make fascinating, and the people involved in the creation of the products are brilliant. What do you do outside of work? Do you have any hobbies or special interests? I love playing and watching all sports, but primarily soccer, basketball and golf. I also love to travel and am picking up the guitar and starting to play again. What are your goals for the future? To become a CFO in an organization that I enjoy working for, based on both the people and the product or service that is offered. My primary goal is to continue to love my workplace!

How did you find your first job out of college? Through my master’s program, I found an internship with PwC. The master’s program was a fantastic pathway to get into the profession. What was your first year like? It was a lot of learning and adapting to real-life practices outside of the textbooks. It was challenging but incredibly useful to help develop a better understanding of how to maintain and analyze financial records.

CPA2b Spring 2024 | wicpa.org

Siobhán Heiss, CPA Job title: Senior 3 l Employer: Ernst & Young

What influenced your decision to become a CPA? Managing money seemed like such a difficult skill — I wanted to study accounting so I could help others who did not have the same opportunities I had to learn financial literacy. During college, I fell in love with accounting for its organizational and analytical properties and how I could draw on analogies to my faith. How did you complete the 150 hours necessary to take the CPA Exam? My school did not offer a master’s program, so I knew I had to complete the 150 credits in four years. Starting in junior year, I took 18 to 22 credits every semester and took extra classes during the winter term. I graduated with a double major in accounting and finance and a minor in German, with 166 credits. What are some dead-wrong assumptions people make about public accounting? Most people think public accounting refers to doing taxes for people or financial audits, but it is much more than that. What’s the best part about your current job? I lead our mentoring program at a local high school where we mentor 30 students on the importance of college and how to make wise financial decisions. I love that I can give back to the community and use my accounting experience to help the next generation. How did you find your first job out of college? I knew I wanted to work for Ernst & Young (EY). EY had the highest rating for workplaces for women, mothers and female athletes, which resonated with me. But since EY did not recruit from the small private college I attended, I spent two years contacting the recruiters before I finally got the job — so stay persistent!

CPA2b Spring 2024 | wicpa.org

What was your first year like? I started working in 2019 (before COVID), so we were in person most days or at the client site. It was a year filled with building relationships with my mentors. The people who mentored me during my first year are still my friends, and we stay in touch even though we all live in different cities now. What surprised you the most when you started your job? One of the best pieces of advice I got was that you should learn to advocate for yourself. I was surprised at how applicable that truly is. You should surround yourself with people who empower you to accomplish your goals — and learn to speak up. What’s the best thing about being a CPA? My favorite thing about being a CPA is that I never need to study for the CPA Exam again! God taught me a lot of lessons of trusting Him, not putting my worth in the exams, and being faithful. What do you like most about the organization you work for? I love the EY–Milwaukee office because it has a small-town vibe. I know the people in other service lines; we’re friends outside of work, and we keep it real. I think my office has a special talent for being honest about work being really hard sometimes, but we still care about each other. What do you do outside of work? Do you have any hobbies or special interests? I’m a coordinator for our mentoring program. It brings me so much joy to watch the high schoolers grow up and decide what college they want to go to and develop into amazing adults. What are your goals for the future? My goal with accounting has always been to glorify God with the skills He has given me, to help increase financial literacy, and to use my resources to help those who have not had the same opportunities as I have had.

Garrett Pynckel, CPA Job title: Tax Senior – Investment Management l Employer: Deloitte Tax LLP

What influenced your decision to become a CPA? Generally, in public accounting you are required to be licensed as a CPA before you are eligible to be promoted to manager, so when I knew I wanted to have a long career in public accounting, the decision became somewhat necessary. How did you complete the 150 hours necessary to take the CPA Exam? I was able to complete the required 150 hours by double majoring in accounting and finance. Carthage College provides students with the opportunity to take four credit hours in January (J-Term) each year, and I also took a few summer classes. What are some dead-wrong assumptions people make about public accounting? Some people think CPAs are overworked or that the work is boring. I have a heavier workload some parts of the year, but then everything slows down quite a bit, so it ends up balancing out. Also, I am constantly learning and facing new challenges that keep me interested. What’s the best part about your current job? I came to Deloitte Tax to work specifically in investment management, and I really enjoy the work I do and the type of clients I serve. How did you find your first job out of college? I applied to a job posting and went through a typical interview process. What was your first year like? When starting a new position — especially your first job out of college — everything is very new, and

you have no idea what you are doing (to be honest). In my first year, I experienced continuous learning and began developing confidence in my work product. What surprised you the most when you started your job? I was surprised how little I knew at first and how much of a team effort this type of work requires. I feel like I am always supported and able to ask questions or talk through something with a manager, director or partner. What’s the best thing about being a CPA? I feel a strong sense of accomplishment and pride in being a CPA. I am also more confident in the future success of my career and that I have raised the ceiling of my potential. What do you like most about the organization you work for? Deloitte provides a tremendous amount of support for the work we do through technology, learning and career development. I have not run into a question that hasn’t been answered. What do you do outside of work? Do you have any hobbies or special interests? I golf quite a bit in the summers and am fortunate to travel regularly. I am also in the process of purchasing my first boat, so I’m looking forward to exploring all the lakes we have here in Wisconsin with my wife and three dogs. What are your goals for the future? I would like to continue to develop my career and network in public accounting. I am also pursuing a graduate degree in an effort to achieve a long-term goal of teaching tax part time at a local college or university.

CPA2b Spring 2024 | wicpa.org

Alex Tetzlaff, CPA Job title: Senior Tax Analyst l Employer: Zurn-Elkay Water Solutions

What influenced your decision to become a CPA? Since I had determined I was numbers-oriented and enjoyed communicating financial information to others, I knew accounting was the right fit. With this in mind — and the way UW–Madison’s Integrated Master of Accountancy (IMAcc) program sets you up for success — it was natural to go further and attain the CPA designation.

How did you find your first job out of college? I found my first full-time position at Kollath (my previous job) via a recruiter. They are very helpful in facilitating the recruitment and selection process for candidates.

How did you complete the 150 hours necessary to take the CPA Exam? I attained the additional 30 credits through the IMAcc program at UW–Madison. I specifically took a structured path with an emphasis in taxation.

What surprised you the most when you started your job? The special aspect about my supervisors was the degree of autonomy and trust they put in me. I was able to work independently for the majority of some engagements and frequently have direct contact with the clients.

What are some dead-wrong assumptions people make about public accounting? You can’t be an outgoing/social person. I know many outgoing CPAs who love to socialize.

All you do is crunch numbers on your 10-key calculator. There is a lot of variety in what we do.

What was your first year like? Working at a small CPA firm, I was a tax generalist. I saw it all, ranging from simple 1040s to individuals with complex foreign business ownership. Tax busy season was certainly tiring. However, it was a marathon rather than a sprint — meaning it was not the constant, intense stress many people think it is.

What’s the best thing about being a CPA? The prestige of the credential and the reverence that others have for you. Individuals instantly respect you and trust you when you have the CPA certification.

It’s only doing taxes from January to mid-April. While that’s the part of the job, it’s certainly not all we do. There are many challenging and exciting tasks throughout the year.

What do you like most about the organization you work for? Empowerment and autonomy to use your problem solving and analytical skills to solve complex income tax problems.

It’s black and white. This one is major, as there are MANY grey scenarios in which the answer may not be clear — from an analytical or even an ethical standpoint. The challenge of finding the answer is rewarding.

What do you do outside of work? Do you have any hobbies or special interests? I am an avid walker on the east side and downtown Milwaukee. Otherwise, I am big into gaming and spending time with my friends on Brady Street.

What’s the best part about your current job? Since I recently changed jobs, I will pull from my last job and say that my favorite part was growth. It was satisfying to have a level of knowledge and experience that enabled me to mentor and teach others. The communication/education part was critical to my experience and satisfaction from the profession.

What are your goals for the future? I hope to continue to progress upward in my role as a tax professional, and I aspire to continue to mentor and develop lower-level staff. Additionally, I hope to advocate for work-life balance in my teams, as it is critical to performing your job to the best of your ability while also remaining a happy person.

CPA2b Spring 2024 | wicpa.org

WELCOME NEW STUDENT MEMBERS Jared Anderson Abdoulaye Barro Madison Behlke Menomonee Falls High School Kalea Biddick Mineral Point High School

Alexis Hentrich Mineral Point High School

Hanna Rott McFarland High School

Omunazia M. Hicks

Abbey Rowe University of Wisconsin–Platteville

Noelle Hurula University of Wisconsin–Platteville Noah R. Jeseritz

Chintankumar J. Bodar

David J. Kaminski

Emma Bonack University of Wisconsin–Milwaukee

David Kang

Rori Bossert Mineral Point High School

Wilson Kerschner Menomonee Falls High School Hasaan A. Khan

Ryan P. Boyle Carroll University

Reed Kluesner University of Wisconsin–Platteville

Aaron Brown University of Wisconsin–Platteville

Ellie Klun Menomonee Falls High School

Braedyn Budde University of Wisconsin–Platteville

Alexander T. Krainer Babel Tax & Accounting LLC

MacClain Busser Mineral Point High School

Michael W. Krause

Jada M. Carerros Jack Ceplina Menomonee Falls High School

Andrea G. Kuhne Landon R. Lemke Concordia University

Catey Dingman

Erica Rose Ludlum Mineral Point High School

Colton Dochnahl Mineral Point High School

Samantha N. McCabe

Connor Farrell Marquette University Grady Finley Mineral Point High School Owen Friedow University of Wisconsin–Platteville Caiden Garcia Mineral Point High School

Charles Rutter Franklin High School Joseph Sadowski Menomonee Falls High School Harman Saini Kapur and Associates Trevor J. Schertler Thayne I. Schmitt Michael Schrank Jr. Slinger High School Bella-Rose Schroeder Carroll University Hudson Schroeder Mineral Point High School Joseph Schroettner Jalen Sims University of Wisconsin–Platteville Kylee Skrzypchak Carroll University Alexandra Smith

Michelle L. Mish

Ricardo E. Soto Robles University of Wisconsin–Milwaukee

Jessica Nigbur University of Wisconsin–Stevens Point

Holden M. Thielke Carroll University

Jayda Padulla University of Wisconsin–Platteville

Emma Tuescher University of Wisconsin–Platteville

Merisa Paynter Mineral Point High School

Adam Vincent UW–Whitewater College of Business & Economics

Jaedyn Paz Menomonee Falls High School Brooke Peterson

Mary E. Watson Nicolet Area Technical College

Maisie M. Gelhar UW–Milwaukee Lubar School of Business

Erin M. Proctor

Kaylee Weaver

Natalie Prudhomme Menomonee Falls High School

Mengyun Ye Columbia University

Madison Grulkowski Franklin High School

Ryley Reichling Mineral Point High School

Dale Yoo Menomonee Falls High School

Fares Hasan

Alex Ross Mineral Point High School

Robert Zinda DeVry University

Jake Gathje University of Wisconsin–Platteville

Olivia M. Heesch

CPA2b Spring 2024 | wicpa.org

LOOKING BACK

NOTE TO SELF

Note to Self Note to Self is a regular column in which CPA professionals write notes to their college-student selves to give them a glimpse of what lies ahead for them. In this issue, Janet Egan, CPA, principal owner of Egan Financial Services in Milwaukee, shares her path with us. Ms. Egan is a member of the WICPA Educational Foundation board of directors.

Dear College Janet, Remember when you were in high school and wanted to take an easy elective with your friends? Your dad encouraged you to challenge yourself by taking an accounting course instead because “It may someday benefit you.” Soon you were hooked. It was exciting and intriguing from the first T account. I think you’re already realizing why that was good advice, but I’m excited for you to really get to see the amazing opportunities given to you by the accounting profession.

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I know your stretch goal today is to get an offer at a Big Four firm. It’ll happen — and it’ll be better than you imagined. The opportunities will be infinite. The mentorship you receive and the skills you learn will lead you to thrive in the next 15 years of your career. As your clients begin to rely on you more in an advisory capacity, you will start to feel like the things they’re doing seem more appealing and fitting to you. Dust off your résumé because the opportunity to lead a large Milwaukee-based corporation through an initial public offering (IPO) is right around the corner. Due to your

experience in auditing, you will be asked to help start their SEC reporting group from the ground up. That experience will be life changing to your accounting knowledge, skill set and career path. After the IPO is complete, you will get a chance to dabble in accounting at the operations level. One day, you’ll be on a walk with your newborn daughter, and you’ll get a call about a part-time controller role at a local family-owned distribution company. Don’t let the description fool you: This will not be your typical family-owned business. The owners are people focused but very innovative. You’ll spend the next five years in that role, getting opportunities to work on real business decisions and challenges with the president, CFO and other division leaders on a daily basis. Then the year 2020 will hit. Everyone will be at home due to a global pandemic (I’m not making this part up!). At that time, the accounting profession will become a lot more conducive to remote work. You will also realize how much you value and enjoy spending more time with your one-, three- and five-year-old children. It will become clear to you that it’s time to take the leap. You will choose to leave your employer and start your own accounting practice.

Time and experience will show you: • Accounting is a valuable skill set for business and life. • Being a CPA gives you options. • Accounting provides fulfillment with endless career path opportunities. Last but certainly not least, your involvement in the WICPA will give you a chance to give back to the profession by speaking to high school students during Wisconsin’s CPA Awareness Month, serving on the Educational Foundation Board and reading to grade school children for Financial Literacy Month. Sincerely,

Future Janet

The skills that you learned in the last 15 years in both accounting and business, along with being a CPA, will allow you to become a valuable partner and resource for your clients. There may be a night or two when you’re finalizing a client audit report with a small child curled up on a blanket under your desk, but more often than not you’re able to prioritize your work around your family time. The work is fulfilling, but the life it allows you to create is even better.

CPA2b Spring 2024 | wicpa.org

CAREER PREPARATION

USING LinkedIn

Make Your LinkedIn Profile Work for You

I By Stephanie Goudzwaard

n the era of LinkedIn, job seekers can easily connect with peers, industry professionals and prospective employers. As the digital technology environment evolves rapidly, it is important for you as students and recent graduates to frequently update your LinkedIn profiles, especially since your profile serves as your online résumé.

Here are five insights and best practices to boost your profile and ensure its credibility, appearance and status to keep you in front of those connections that matter most.

CPA2b Spring 2024 | wicpa.org

Professional profile picture Your profile picture is the very first element LinkedIn users see, and it is a simple way to make a strong visual first impression. Alternatively, an unprofessional or nonexistent profile picture can deter potential connections and opportunities. In fact, LinkedIn data has shown that users who have a profile picture receive 14 times more profile views and nine times more connection requests than those who do not have a profile picture. However, it is not enough to just have a photo; it is important to use the right photo. Ideally, your profile picture should: • Meet standard headshot specifications. This means your picture is high quality, in focus, sized correctly and captured from the waist or mid-chest up.

• Showcase yourself in a professional setting and attire. The focus should be on you with a simple background. You should also dress the way you would for the role and industry you want to work in or as you would dress if you were going to an interview.

By answering these simple questions as concisely as possible, viewers will be inclined to look at your profile or send a connection request. A captivating headline paired with a professional photo will provide LinkedIn users with pertinent information about you within a few seconds.

• Portray the message you wish to deliver. Your facial expression can deliver a first impression in 100 milliseconds, so put your best “face” forward.

Engaging About section

You ultimately control your profile’s appearance and can set limits that affect how your profile appears on search engines, profile badges and permitted services.

Similar to capturing the right audience with your headline, you have 2,600 characters to tell your unique story in your About section. The About section is essentially your marketing piece and generally accomplishes three tasks:

Descriptive headline

1. Shows relevance

Your LinkedIn profile headline will likely be the second item on your profile that your connections will see. A headline typically showcases your title, employer and area of expertise and is limited to 220 characters. This is the prime location to capture a reader’s attention quickly by using concise language or by including two or three keywords.

2. Attracts the right people who are important to your professional success

a What are keywords? Keywords give a search engine specific information so people can find what they’re looking for when they search. LinkedIn uses keywords to match relevant information across millions of professionals and job roles, connecting you and your skills with the right people, not unlike how Google spiders search webpages with keywords used in your search.

To write a compelling headline, ask yourself: • “What are my greatest assets?” • “Why should viewers scroll through my entire profile?” • “Why should someone connect with me?” For example, a professional could turn “Senior Accountant at XYZ Company” into “Senior Accounting Specialist With More Than 10 Years’ Experience in the Manufacturing Industry.” If you’re not employed or in an internship, try something like “Public accounting student at UW–ABC seeking tax internship.”

3. Lets them know more about you so they can determine if you are relevant to their goals Just like your headline, your About should be engaging, original and as concise as possible.

a Pro Tip: About sections are usually written in first-person narrative.

You can also showcase your top five skills in your About section. According to LinkedIn’s VP of product management, Hari Srinivasan, 44% of recruiters apply a skills-oriented approach to finding candidates. Highlighting your top skills can increase your odds of being found by hiring employers.

Harnessing powerful adjectives and verbs Whether you’re in the market for a new job or hoping to attract new connections, it’s important to use powerful, descriptive adjectives and verbs in your headline, About section and job description. Paint a vivid picture of your expertise with action-oriented verbiage. For example, in a job description: • Instead of saying: “Help customers shop and then accept payment for products.” • Say: “Attend to customers, assist them in purchasing the best product for their needs, and ensure full satisfaction and accuracy in the transaction.”

CPA2b Spring 2024 | wicpa.org

If you are struggling to find the right action words, take to the internet for synonyms or to spark creativity. Not only is it important to utilize strong action verbs, but it’s also a best practice to use keywords as much as possible. Details — a few simple items such as area of expertise or interest (such as accounting, taxation or finance), specific software programs used in your desired role, location and industry you’d like to work in — can help boost your profile.

Core, recommended and additional profile sections As a social platform, LinkedIn is designed to help you build your professional network. By adding your education and work history, you are providing LinkedIn with the information it needs to perform its job and recommend connections. Include the degree, certification or license you’re working toward; any internships you’ve done; and any noteworthy, specialized courses or projects you’re working on. If you’ve graduated and have a great GPA, add that as well. If you are involved with any organizations or causes on campus or in the community, adding those details to your profile will also help LinkedIn find relevant connections. You can also showcase your talents by adding skills to your profile. As a student, you may wish to use this section to list the software programs you’ve learned (such as MYOB and QuickBooks) and any specialized skills you’ve developed (such as advanced Excel, communication or leadership skills). As with your résumé, you should NOT list skills you do not have in order to look better. Listing skills not only allows you to easily tell your story but also opens the door for interactivity with your connections, as they can endorse you for those selected skills and vice versa. This provides a good excuse to reach out and start a conversation as well. Be sure to check out the various sections that you can add to your profile to further tell your professional story on LinkedIn.

Maximize your investment Just like any tool, what you invest in LinkedIn is what you’ll get out of it. LinkedIn serves as a professional social network, granting easy access to the latest trends, discussions and advancements in your field. You should follow pages or join groups

CPA2b Spring 2024 | wicpa.org

“

As a social platform, LinkedIn is designed to help you build your professional network.” related to companies or topics you want to explore further. It’s an effective method to stay informed as things evolve in your line of work. Strengthen your network by connecting with relevant individuals and be sure to include a personalized message to enhance your chances of a meaningful connection. As you establish a solid network, actively engage with posts through likes, comments or shares. Your feed on LinkedIn is determined by the platform’s algorithm, which takes into account your interactions. The more you engage, the more your feed will showcase content that matters most to you.

Let LinkedIn work for you Simply having a profile for the sake of having a profile is not enough. By optimizing the above items on your profile and letting LinkedIn work for you, you can stay in front of those connections that matter most. Ultimately, your LinkedIn profile is your digital résumé and should be used as an important resource in building your career, your connections and — when you’re hired by a firm — your client base. Stephanie Goudzwaard is senior marketing manager for Sikich LLP, Brookfield.

Interested? Contact Marcia Tillett-Zinzow, editor, at mtzinzow@icloud.com. CPA2b Spring 2024 | wicpa.org

CAREER PREPARATION

INTERVIEWS

BEFORE & AFTER THE INTERVIEW

ou’ve decided that you’d like to start searching for an internship or entrylevel role and have landed an interview. That’s great! You probably have some questions and maybe some nerves. How do you prepare? What do you wear? What should you By Tori Spencer focus on prior to and after the interview? In this article, we dive into the before and after of an interview.

“

Securing a job interview is a significant step toward your career goals, but success in the interview room requires careful preparation.”

Before the interview Securing a job interview is a significant step toward your career goals, but success in the interview room requires careful preparation. To ensure you make a lasting impression and increase your chances of getting a job offer, here are a few recommended steps: 1. Research the company Begin by researching the company. Understand its mission, values and services. Familiarize yourself 34

CPA2b Spring 2024 | wicpa.org

with the company culture, as this will help you tailor your responses during the interview to align with the organization’s goals and values. 2. Study the job description Review the job description to identify key skills and qualifications required for the position. This information will guide you in emphasizing your relevant experience and skills during the interview. Be

prepared to provide specific examples that demonstrate your capabilities in line with the job requirements. 3. Know your résumé Expect questions based on your résumé. Familiarize yourself with the details of your education, work experience, and any gaps in employment. Be ready to discuss your accomplishments, challenges faced, and the impact of your contributions in previous roles. 4. Prepare questions for your interviewer Demonstrate your genuine interest in the position by preparing thoughtful questions for the interviewer. Inquiring about the company culture, team dynamics, and expectations for the role not only shows your enthusiasm but also helps you assess if the organization is the right fit for you. 5. Dress appropriately Choose professional attire that aligns with the company culture. Dressing appropriately not only creates a positive first impression but also shows that you respect the formality of the interview process. If you have questions, feel free to ask your recruiter! 6. Practice nonverbal communication Nonverbal cues, such as eye contact, a firm handshake and a confident posture, play a crucial role in making a positive impression. Practice these elements to ensure your body language conveys professionalism and confidence. By investing time in these preparatory steps, you will enhance your readiness for the interview, presenting yourself as a qualified and dedicated candidate. Remember, the more you prepare, the more confident and capable you will appear to the interviewer.

After the interview Congratulations, you’ve completed the job interview! While the interview itself is a significant milestone, your efforts don’t end there. The postinterview phase is crucial for leaving a lasting impression and increasing your chances of securing the position.

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The post-interview phase is crucial for leaving a lasting impression and increasing your chances of securing the position.”

1. Reflect on the interview Take some time to reflect on the interview experience. Consider the questions asked, your responses, and any areas where you feel you could have provided stronger answers. This reflection will not only guide you in addressing any follow-up questions the employer may have but can also help you improve for future interviews. 2. Send a thank-you email Express your gratitude to the interviewer by sending a prompt thank-you email. Reiterate your interest in the position, highlight key points from the interview, and mention how your skills align with the company’s needs. A well-crafted thank-you note not only demonstrates professionalism but also keeps you fresh in the interviewer’s mind. 3. Connect with your interviewers on professional platforms Connect with the interviewer or other relevant professionals from the company on LinkedIn. Sending a personalized connection request with a brief message expressing your appreciation for the interview can help to further establish a connection and keep you on the employer’s radar. 4. Patiently wait for a response After sending your thank-you email and any promised information, be patient. Employers often need time to evaluate all candidates before moving forward. CPA2b Spring 2024 | wicpa.org

5. Send a follow-up email if necessary If a reasonable amount of time has passed without an update, it’s acceptable to send a polite follow-up email inquiring about the status of your application. Reiterate your continued interest in the position and express your eagerness to contribute to the company. 6. Learn from the experience Regardless of the outcome, view the interview as a valuable learning experience. Consider any feedback you receive, whether through direct communication or by reflecting on the process, and use it to refine your interview skills for future opportunities. By strategically navigating the post-interview phase, you will not only demonstrate your professionalism but also maintain an active and positive presence in the eyes of potential employers. Remember, the journey doesn’t end with the interview — it’s a continuous process of improvement and perseverance. Victoria Spencer is a senior talent acquisition specialist at Wipfli LLP in Milwaukee. Contact her at vspencer@wipfli.com.

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