9 posts categorized "Kim Drumgo, MBA, PMP" Feed

The one business mentality all CPAs need

Global mindsetDr. Alia Crum famously says in her Ted Talks, “Change your mindset, change the game.” This philosophy is especially true in how we relate to one another. In today’s evolving marketplace, being a successful businessperson requires the ability to work and engage with people from all over the world and from many different cultures.

Understanding the global mindset

The global mindset is “the ability to relate to and influence individuals and groups whose culture and way of doing business are different from your own.” It’s necessary for anyone who wants to “change their game” and thrive in today’s business environment.

But incorporating this perspective means more than just changing the way you think. It means filling your mind with information that will help you behave in a more culturally sensitive way, making you more effective in both business and community. The global mindset’s three capitals were developed by Thunderbird University, and include:

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The One Personality Trait All CPAs Share

Patrick Lee medalsAs Asian American and Pacific Islander Heritage Month comes to a close, we share the story of one CPA, his remarkable achievements and the traits that were instilled in him growing up in a Chinese-American household. 

In my five years working closely with CPAs of diverse backgrounds, I am increasingly seeing one very consistent trait all CPAs seem to share, no matter what their background: drive. I know CPAs who have faced frustrating, even heartbreaking obstacles in pursuit of their credential. Even through the obstacles those same CPAs also strive for excellence in every aspect of their lives. 

That certainly seems to be the case with Patrick B. Lee, CPA. It’s not something he can shut off. Whether he’s teaching or running a marathon, he always seems to be devising new strategies to do things better and faster.

As someone whose instinct tells him to analyze and problem-solve, Lee, an assistant professor of accounting at Southwestern College in Winfield, Kansas, finds that drive creeping into all areas of his life.

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Female Perspectives: 3 AICPA Chairs’ Success in the Profession

Women's history monthMarch is Women’s History Month, a chance for the world to acknowledge the contributions of women.  

The AICPA is on a mission to shine light on successful, female CPAs who have cracked the proverbial glass ceiling. We interviewed three women who have recently shared their talents with the AICPA by taking on the role of board chair.

Meet the first female chair to be elected in 1998, Olivia Kirtley, fourth female chair, Tommye Barie elected in 2014, and present chair Kimberly Ellison-Taylor, who made history as the first African American woman to be elected. These pioneers discuss their climb to the top and what it took for them to reach their position.

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Reflections on 2016: Diversity, Inclusion, Our Nation and Our Profession

Kim DrumgoAs December draws to a close, I’ve been reflecting on the many ways difference and respect have been brought to the forefront in our communities and on the political stage this year. I’ve witnessed tragedies and heard disturbing rhetoric that have left many in our nation feeling unsettled, and even fearful. We cannot ignore these realities because they help shape our strategies for the future.  And while it may be difficult for some, we all must do our best to continue to move forward and lead with clear vision. It’s important to recognize that respect, inclusion and difference made real advancements in 2016, and will continue to do so in years to come.

With this in mind, I’d like to take a moment to highlight several accomplishments in the accounting profession that I am particularly proud of, as well as accomplishments within AICPA’s diversity and inclusion (D&I) initiatives.

 

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CPA Success Story: Angela Ho

Angela HoIn celebration of Asian American and Pacific Islander Heritage Month

For Angela Ho, CPA, CGMA, dichotomy has been a constant presence in her life: East and west. Public accounting and business/industry. Young and seasoned.

Born in Virginia as a first-generation Chinese-American, Angela experienced a childhood with one foot in the United States and the other in Hong Kong, where she lived for five years, followed by two years in Tokyo.

Her father’s international work assignments were “my earliest exposure to the business world,” Angela says. “I was surrounded by businesspeople starting at a young age.”

Sage Advice for a Career Path

When it was time to return to the United States for college, many of her father’s colleagues suggested accounting as a major. It didn’t take much convincing for Angela to investigate.

“I didn’t know much about accounting specifically, or the importance of financial statements,” she says. “But I took a fairly assertive approach to learning about becoming a CPA — going to career fairs, talking to Big 4 firms, and seeking out career services. As early as my freshman year at the University of Massachusetts Amherst, I was mapping out credits and requirements to become a CPA.”

Angela never looked back. Well, almost.

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Asian and Pacific Islanders Have a High Degree of Cultural Diversity but Need Greater Visibility

Darryl NittaMay is Asian American and Pacific Islander Heritage Month, a celebration established in 1992 to recognize the culture, traditions and history of Americans of Asian or Pacific Islander ancestry as well as their achievements and contributions.

Did you know?

  • The term “Asian Pacific Islands” includes more than 50 countries and ethnic groups
  • According to the U.S. Census, Asian and Pacific Islanders are the fastest growing race in the nation
  • About 5.4 percent of the U.S. population is of Asian or Pacific Islander descent
  • As of 2007, there were 1.5 million Asian American-owned businesses in the United States—up 40 percent from 2002 (U.S. Census Bureau's Survey of Business Owners – Asian-Owned Firms: 2007, released May 2011)

Creating Environments Where Asian and Pacific Islanders Can Thrive

Within the CPA profession, there are more Asian and Pacific Islanders represented than any other minority group, including Hispanics and African Americans. Also, the numbers overall are increasing. However, the increase is small, and more can to be done to recruit and retain Asian and Pacific Islanders as well as other minority groups. In our firms, we can help promote Asian and Pacific Islanders by:

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Continuing the Journey of Inclusion: The Year in Review

DiversityAs 2015 draws to a close, I’ve been reflecting on the 12-month journey that our society and the accounting profession have made in the area of diversity and inclusion. This has been a banner year for diversity and inclusion in the profession, especially in relation to gender issues. Additionally, there are a number of new opportunities for accountants to capitalize upon as a result of a key diversity and inclusion-related ruling raised by the U.S. Supreme Court.

In July of 2015, KPMG announced Lynne Doughtie as their U.S. Chairman and CEO. In addition, growth in leadership among women within the accounting profession continued. Tommie Barry recently concluded her year as AICPA Chairperson of the Board of Directors. At the same time, the AICPA’s governing Council voted Kimberly Ellison Taylor into the Vice-Chair position of the AICPA Board of Directors at its fall meeting.  Of even greater note, Kimberly is the first African American voted into such a position within the AICPA. 

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Cathy Engelbert Makes History This Women’s History Month

Cathy-engelbert-cpaEvery March, Americans honor the contributions of both notable and ordinary women by celebrating Women’s History Month. Two pioneering women within the accounting profession were Christine Ross and Mary T. Washington.

In 1899, Ross became the first female CPA in the U.S. Nearly 50 years later, Mary T. Washington became the first black woman CPA in the U.S.  Since then, an increasing number of women have entered the profession, and today, half of all undergraduate and graduate accounting students are women.

Cathy Engelbert Writes a New Chapter

Now in 2015, there is a new reason to celebrate—on March 11, Cathy Engelbert, CPA, took the helm as CEO of Deloitte LLP, making her the first female CEO of a Big Four firm in the U.S.

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Where Is Your Firm on the Journey Toward Greater Diversity and Inclusion?

MLKOn the third Monday in January each year, AICPA and Americans across the country recognize the life and legacy of Martin Luther King, Jr. Between 1955 and 1968, his strong leadership helped transform race relations in America, and his powerful voice gave the nation courage to continue working toward racial equality. He led millions in this movement, which resulted in historic reforms that benefit all of us—and he continues to inspire the ongoing work of diversity and inclusion happening today.

The accounting profession has been developing effective diversity and inclusion approaches for many years; early on these efforts focused mostly on gender diversity. Today’s initiatives comprise a much wider range of differences and similarities—not only in gender, but in ethnicity, age, generation, religion and sexual orientation.  

Making strong efforts to be more inclusive in the accounting profession is critical, not only because it is the right thing to do, but because trends show that the increased demand for CPAs and accounting professionals will eventually outpace the supply. Some of reasons for this trend are:

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