There’s a CPA shortage stemming, in part, from a misperception that accountants perform monotonous, boring tasks. But those of us in the industry know how invigorating it can feel to empower our clients to achieve their missions.
I’m a fan of the legal drama Suits, which follows the lives of ego-driven, well-dressed attorneys at a fictional New York City law firm. They’re sharp, confident, look great in custom tailoring — and they know it. But I couldn’t help but take personally one episode in particular: the one with the accountant.
The character, Stan Jacobson, stands in sharp contrast to his Armani-clad counterparts. The fictional accountant in his unflattering, boxy fits not only got busted for falsifying his credentials, but his style was about as non-existent as his diploma.
Accountants are often portrayed like this: uninspiring, boring number-crunchers who perform rote tasks. These seemingly harmless or humorous depictions contribute to misperceptions about what it means to be an accountant.
These portrayals miss the fact that accounting is a dynamic and challenging field that requires a high level of expertise and problem-solving skills. Accountants, especially public accountants who solve a variety of challenges for their clients, work at the heartbeat of an organization — its financial wellbeing. They play a vital role in advising clients on financial matters and helping them make informed decisions.
Despite what I know to be true about the profession, we’re in a CPA shortage. More than 300,000 accountants and auditors have left their jobs in the past two years, a 17% decline in the profession, according to an analysis from the Wall Street Journal.
These numbers concern me. We’ve witnessed it in our own recruiting: we’re seeing a smaller pool of applicants due to fewer graduates with accounting degrees. Some of this is due to young talent opting for buzzier opportunities in emerging tech fields. But I also attribute the decline to a lack of understanding of what it really means to be an accountant, especially in public accounting. For Han Group, which is solely focused on serving nonprofit clients, the excitement of our work goes beyond the traditional realms of numbers and financial analysis — it lies in the profound impact we make on organizations dedicated to positive change.
We help clients uncover the real stories behind their revenue and trend lines — and we show them how to ask the right questions so they can begin to discover these stories themselves.
In service of nonprofit missions
In the nonprofit sector, every financial decision is a strategic move toward furthering the organization’s mission. As public accountants specializing in the nonprofit industry, the thrill comes not just from ensuring financial compliance and transparency, but actively contributing to the success of endeavors that aim to make a difference in the world. It’s about aligning financial strategies with the greater purpose and vision of our nonprofit clients, whether they focus on education, healthcare, environmental sustainability, or social justice.
There is so much about working at a public accounting firm that serves nonprofits that I find energizing.
As public accountants, we empower nonprofits to tell their story. Public accounting goes beyond crunching numbers and following checklists. We help nonprofits effectively communicate their mission through their financial statements and information returns. We help clients uncover the real stories behind their revenue and trend lines — and we show them how to ask the right questions so they can begin to discover these stories themselves.
We help decision-makers fulfill their organizations’ missions. Often, we play a role in training nonprofit board members and executives by walking them through their financials and showing them how new regulations and compliance requirements will impact them. Han Group accountants help board members and executives spot gaps and opportunities so they can make the decisions that will drive their organizations forward.
We stay on top of industry trends and emerging technology. New technologies such as AI and cryptocurrencies are influencing everything from how organizations make decisions to how a nonprofit can receive donations. We monitor these trends and follow the most up-to-date guidance from local, state, and federal governments, as well as the Financial Accounting Standards Board, so we can help our clients navigate some of these new and exciting advancements. In our own work, we use artificial intelligence and advanced data management tools to gain insights that go beyond compliance. For example, we use cloud-based solutions to predict financial trends and optimize resource allocation.
We collaborate with diverse clients on a variety of interesting projects. Public accounting thrives on collaboration and the opportunity to work with a wide range of clients — from startups to multi-million-dollar foundations. This diversity not only enhances our team’s professional growth but also provides valuable opportunities to customize our expertise to meet the unique needs of each client.
We collaborate on projects that extend beyond traditional accounting services. For example: implementing cloud-based accounting systems, leading financial capacity-building workshops, optimizing startup nonprofits’ financial processes, conducting risk assessments for healthcare organizations, and guiding cultural institutions through strategic fundraising initiatives.
We build relationships. In the nonprofit arena, the excitement of public accounting is amplified by the opportunity to build lasting relationships with clients who are deeply passionate about their causes. The collaborative spirit within our firm extends beyond teamwork — it becomes a partnership with organizations striving to make a meaningful impact. The continuous learning in our field takes on a purposeful dimension as we stay informed not just about financial regulations but also about the evolving landscape of the nonprofit sector.
We’re at a critical inflection point in our industry. This is why it’s so important for us in the industry to be vocal about our role in strengthening the financial health of organizations that make a difference in our communities.
Looking toward the future
We’re at a critical inflection point in our industry. This is why it’s so important for us in the industry to be vocal about our role in strengthening the financial health of organizations that make a difference in our communities. Our expertise and guidance equip these groups to better serve the people who need them. It’s a responsibility we take seriously. It’s what I talk about when I meet with prospective employees.
I founded this firm 15 years ago to be a reliable partner for local, national, and international nonprofit clients. At Han Group, we take pride in cultivating a staff filled with fresh perspectives, experiences, and ambitions for their careers and clients. We will always have a role to play in keeping our clients focused on their mission and confident in their future.
See what it’s like to work at Han Group and check out our current job listings on our Careers page. If your nonprofit is in need of support, reach out to us.
