Katie Cardinal

Remembering the First Female CPA in the US: Christine Ross

Posted on March 13, 2023March 12, 2024 by Katie Cardinal

Born in Nova Scotia, Canada around 1873, Christine Ross relocated to New York in her early twenties to take the CPA exam. In December of 1896, New York became the first state to offer the exam for the first time. Two years later in June of 1898, Ross sat for the exam and placed within the top three of those in her test group.

While the 11 men who also passed that exam were immediately awarded their certificate, Ross’ scores were not released and she was not awarded her certificate until December of 1899—nearly eighteen months after she had taken the exam. The New York Board of Regents had debated for some time about whether a woman should be allowed to hold the CPA title. Once they had agreed to allow Ross the CPA designation, she was issued certificate No. 143—making her the first female CPA in the United States.

Ross practiced in New York City during the early 20th century. Her clients consisted of upper-class women, women’s organizations (such as those supporting women’s suffrage), and individuals in business and fashion. Consequently, Ross’ work facilitated financial independence for many women. Not much is known about her life after she left New York, but her achievements ultimately aided the women’s rights movement during the Progressive Era and paved the way for the future of women in accounting.

The Seven Stages of Change

Posted on March 3, 2023March 12, 2024 by Katie Cardinal

Change is an inevitable part of life. It challenges us to grow and adapt to new situations — but, it can be difficult, and many people struggle to make meaningful changes in their lives. Here, we’ll explore the seven stages of change:

Stage 1: Being unaware of the need to change a problem or habit.

Stage 2: Being aware of the need for change but believing that one is powerless to make the change.

Stage 3: Being aware and believing one can make the change, but only after the problem or habit has occurred.

Stage 4: Being aware of the need for change in the moment, but unable to change it because the moment happens too quickly.

Stage 5: Being aware of and changing the problem or habit in the moment as it is happening.

Stage 6: Foreseeing the problem or habit and preventing it from occurring.

Stage 7: Making the permanent change.

While change can be a challenging process, it is essential for personal growth and development. By understanding these stages, we can develop the resilience and persistence necessary to create meaningful change in our lives. Remember, change is a journey, and it is okay to stumble along the way. The most important thing is to keep moving forward, one step at a time.

Reference: Business Strategy For CPAs

How Do We Increase Diversity in the Accounting Profession?

Posted on February 28, 2023March 12, 2024 by Katie Cardinal

According to the American Institute of CPAs (AICPA), only 1% of CPAs in the United States identify as black or African American. This number has improved little over the century since America saw its first black CPA, whereas the percentage of Asian and Hispanic CPAs has managed to grow somewhat to 12% and 7%.

Perhaps the most concerning aspect of the lack of diversity is how the number of black accountants drops further at each level. According to the 2017 AICPA demographic report, there were 9% of students enrolled in accounting programs, 4% of new hires in firms, and—as mentioned—the 1% who are CPAs. It is clear, then, that the profession struggles largely with retention rates of underrepresented groups.

Increasing diversity in the CPA profession is a vital goal that can be achieved through various strategies. Below are some ways we can help promote diversity:

Mentorship & Sponsorship Programs

Mentorship and sponsorship programs provide underrepresented groups with guidance, support, and opportunities for advancement within the profession.

Recruitment & Retention Programs

Firms can focus on recruiting and retaining diverse candidates by building relationships with colleges and universities with diverse student populations and creating inclusive work environments.

Professional Development Opportunities

Providing professional development opportunities such as training, conferences, and networking events catering to diverse groups can help increase their professional representation.

Increased Visibility

Increasing the visibility of diverse role models in the profession can inspire others and help to break down barriers. This can be achieved by promoting diverse speakers at events, featuring diverse professionals in marketing materials, and celebrating the accomplishments of diverse individuals.

Addressing Unconscious Bias

Firms can address unconscious bias by training staff to identify and mitigate it. This can create a more inclusive and welcoming workplace for all professionals.

Industry Collaboration

Collaboration among industry organizations can help to promote diversity in the CPA profession. This can involve sharing best practices, developing joint initiatives, and working together to promote diversity and inclusion.

Remembering the First Black Woman CPA: Mary T. Washington Wylie

Posted on February 21, 2023March 12, 2024 by Katie Cardinal

Mary T. Washington Wylie was the first black female CPA in the United States and the 13th black CPA overall. There would not be another black female CPA for 25 years, making her milestone all the more significant.

Born in Mississippi in 1906, Wiley moved to Chicago at the age of 6 to live with her grandparents after her mother died. She quickly developed a love for math and, while in high school, worked as a bookkeeper on afternoons and weekends. After graduation, she began working at Binga State Bank of Chicago as assistant to Arthur J. Wilson—the country’s second black CPA. Wilson encouraged Wiley to pursue accounting and became her mentor.

In 1939, Wylie opened her own accounting firm in her basement. Two years later, she earned her bachelor’s degree from Northwestern College of Business and was the only woman in her graduating class. She then completed her apprenticeship under Wilson to meet the experience requirement to sit for the CPA exam, which she passed in 1943. She quickly gained success with black, Jewish, and not-for-profit organizations.

Wiley made it her mission to support young black CPAs, hiring and training the next generation. Since the tax profession was still largely inaccessible to the black community, Wiley’s firm became the best opportunity for accountants to get their foot in the door. As a result, accountants flocked to Chicago, allowing Wiley’s firm to grow. She eventually hired one of her protégés as a partner, becoming Washington & Pittman in 1968. With the addition of a third partner in 1976, the firm became known as Washington, Pittman, & McKeever.

In 2005, Wiley passed away at the age of 99, leaving behind five children and nine grandchildren. In 2018, the City of Chicago declared September 30 as Mary T. Washington Wylie Day. Today, a division of her firm still operates under Mitchell Titus and the Mary T. Washington Wylie Opportunity Fund continues to provide scholarships and internships to young, underrepresented accountants.

Remembering Maryland’s First Black CPA: Benjamin L. King

Posted on February 14, 2023March 12, 2024 by Katie Cardinal

John W. Cromwell, Jr. became the first black CPA in America in 1921; however, it wasn’t until over three decades later that Maryland would see its first black CPA: Benjamin L. King.

Born and raised in Washington, D.C., King graduated from Dunbar High School and went on to obtain his bachelor’s degree in accounting from Virginia State College in 1949. Soon after, he served during the Korean War in the Army Audit Agency until 1952. After returning home, he continued his education by taking graduate accounting classes at American University. Doing so opened the possibility to sit for the CPA exam in D.C.; however, he needed to gain two years’ work experience first.

D.C. was full of white-owned firms who wouldn’t hire a black accountant, even despite King’s offers to work for free. When he did find one of the only black CPA’s in the area, the CPA told King he would not hire him as it would only create a competitor. From that moment, King determined that he would never refuse anyone help the way he had been refused.

After discovering that Maryland did not have a work requirement to sit for the CPA exam, King moved his family to Seat Pleasant. In June of 1957, he became the first black CPA in Maryland—and only the 54th in the entire nation.

King eventually established his business in Baltimore, where he became the primary CPA for small, black-owned businesses in the area. He partnered with Art Reynolds in 1958, another black CPA, and began teaching at Morgan State University. There, he encouraged students to become accountants and either hired or helped them land a position elsewhere after they graduated.

In 1969, he was appointed to the Maryland State Board of Public Accountancy and became chairman. In 1973, King founded the Baltimore chapter of the National Association of Black Accountants, sitting as President twice. To this day, the Baltimore chapter continues to support young tax professionals the way King did until his death in 2005 at the age of 77.

Upon his death, King left behind five children—four of whom became accountants and three of whom continue to run King, King & Associates in Baltimore, the firm that their father created.

The firm still has some of King’s original clients, and the three children maintain their father’s legacy by actively supporting young black accountants in Maryland.

Recognizing African-American Pioneers in the Accounting Profession

Posted on February 7, 2023March 12, 2024 by Katie Cardinal

Black History Month is a time to acknowledge and celebrate the achievements of the African American community and their role in U.S. history. While the most popular celebrations tend to focus on political activists, authors, or musicians, it is just as important to recognize lesser-known roles. We will use this month as an opportunity to celebrate African-Americans who trailblazed the accounting profession.

There is no better place to begin this celebration than by focusing on the life of America’s first Black CPA: John W. Cromwell, Jr. In 1883, Cromwell was born to John W. Cromwell, Sr. and Lucy McGuinn. Cromwell’s father was born into slavery and bought his family’s freedom in 1851. Thereafter, he took on many roles, including lawyer, journalist, and civil rights activist in Washington D.C.

Cromwell followed in his father’s hardworking footsteps and graduated with honors from Dartmouth College in 1906, obtaining his master’s degree the following year. Since he was not allowed to sit for the CPA exam in D.C.—or any other surrounding state—he began teaching high school math.

It wasn’t until New Hampshire passed a law in 1921 waiving the experience requirement to sit for the exam, that Cromwell became licensed. From there, he continued to teach while practicing as an accountant in his own firm in D.C. His clientele primarily consisted of members of the black community. In 1930, he became comptroller of Howard University.

While Cromwell’s achievement was a significant moment in history, it still took another 45 years for the first 100 black accounts to be licensed. Of the first 100, 28 were licensed in Illinois alone, which meant most of the country was staggeringly nonprogressive. By the time the National Association of Black Accountants was founded in 1969, there were only 136 black CPAs. When Cromwell passed away at the age of 88 in 1971, that number had hardly grown.

Even today, black accountants only represent approximately 2% of all licensed CPAs in the United States. In our mission to support and encourage a more diverse field, it is continuously important that we take time to recognize pioneers like John Cromwell.

Tips For Staying Organized During Tax Season

Posted on February 3, 2023March 12, 2024 by Katie Cardinal

Now that tax season is underway, staying organized is as crucial as ever. Doing so can create a less stressful work environment, help you to better serve your clients, and make for a more successful year. Here are a few tips to help get you started:

Create a to-do list

This tip may be obvious, but it’s still important to mention. Creating a list of tasks helps keep you organized as well as creates a sense of accomplishment when you complete them. Review your list every morning or jot down what you’d like to tackle for the next day. You can even create time blocks to help you schedule out your day, or put high-priority tasks first. This ensures you aren’t forgetting what needs to be done without feeling overwhelmed.

Use an agenda book or notebook

Whether you use physical notebooks or keep everything in your email calendar, you should get into the habit of jotting down important dates and notes. By writing down meetings, deadlines, and ideas, you’re less likely to forget them. Moreover, your time management will improve. It may even be helpful to add in reminders. Just be sure to keep your calendar up-to-date.

Optimize your workspace

Whether you’re working in an office building or you’ve set up shop in your house, a cluttered workspace is a recipe for disaster. Keep important items within reach, and put away anything you don’t use frequently. Use organizers to keep things in their place and to maximize your storage. Have some extra time? Go through your files and office supplies and get rid of anything you no longer need. Having a cleaner workspace is conducive to a more efficient workday.

Use the right program

Let’s face it: today’s world is digital. Trying to find the right programs and software for you and your clients can be frustrating. Not having simple-to-use programs can actually make you feel more disorganized. You can talk with other tax professionals during regular Business Builder ThinkTank meetings to discuss what has worked for them. Additionally, MSATP now offers Verifyle Pro as a member benefit: a cloud storage and sharing tool that allows you to securely communicate with clients, share documents, and request signatures (among so much more). Simple and straight-forward to use, it’s a great program to keep yourself organized during your busiest time of the year.

Tax Season Motivation

Posted on December 30, 2022March 12, 2024 by Katie Cardinal

Tax season is approaching and that can only mean one thing: stress. It’s something everyone must deal with, but for accountants and tax preparers the beginning of the year comes bearing extra challenges.

While it can be overwhelming, it’s important to remember that there is light at the end of the tunnel and you can overcome whatever this tax season throws your way. Here are five inspiring quotes to read whenever you’re feeling particularly stressed and need help getting through your work:

“Working hard for something we don’t care about is called stress. Working hard for something we love is called passion.” -Simon Sinek
“If it wasn’t hard, everyone would do it. It’s the hard work that makes it great.” -Tom Hanks
“The greater the obstacle, the more glory in overcoming it.” -Molière
“In times of great stress or adversity, it’s always best to keep busy, to plow your anger and your energy into something positive.” -Lee Iacocca
“Obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it.” -Michael Jordan

We hope you take time to look back at these quotes whenever you need a little motivation to keep going. Remember that the work you do is important! Stress may come with the job, but so does the pride in being able to accomplish it.

Need more motivation? Make sure to sign up for our Tax Season Motivation webinar with Dawn Brolin, CPA, CFE, on January 13, 2023!

MSATP Hosts First Annual Holiday Soirée

Posted on December 22, 2022March 12, 2024 by Katie Cardinal

On December 15, 2022, MSATP hosted our first annual Holiday Soirée. The primary goal of the event was to raise funds for the MSA Scholarship Foundation, which has awarded over $1,000,000 in scholarships to accounting students in Maryland.

Attendees dressed in their holiday best to enjoy food, drinks, and a fantastic holiday playlist as they caught up with friends and meet new faces throughout the night.

Through ticket and raffle sales, over $2,000 was raised for the Scholarship Foundation! Ellen Silverstein won the 50/50 raffle, which she generously donated back to the Foundation. Additionally, Jonathan Rivlin won the night’s raffle and received a Roomba.

We also took time during the event to recognize valuable volunteers and sponsors for all they have done:

Frost Law was awarded for being an Outstanding Partner
Nicole Moore was awarded for her Outstanding Service
Ann F. Ellicot was awarded for her Enduring Commitment
Jerry Lotz was awarded for being the Sponsor of the Year

Thank you to all who attended and we hope more of you can join us next year for this new tradition!

Click the thumbnails below to see collages from the event!

Tips for a Smoother CPE Season

Posted on December 14, 2022March 12, 2024 by Katie Cardinal

Ah, the holidays! While this can be a joyous time, it is equally and undeniably stressful. There are presents to buy and wrap, parties and dinners to attend, and last-minute CPE to obtain!

Okay, maybe that last part doesn’t apply to everyone, but it certainly applies to us. Trying to get your credit hours in right before the year ends adds unnecessary stress to your December. Not only is your time limited during the holidays, but the availability of seminars is limited as well. What’s left is often sold out, or the one seminar you need has already come and gone. So, how do you keep this from happening next year?

Know What You Need

Do you know how many hours of CPE you need every year? Do any of those hours need to be state-related? Wait, what about an ethics class?

These are not questions you want to be asking at the very end of the year only to find out you’ve missed the seminars you need to take. Find your CPE requirements here to figure out what courses are right for you. Don’t forget that members can call the office to register for their free ethics course!

Plan Ahead

Look out for our annual Education Guide. You’ll find everything from the seminar schedule to hotel information to fun events (Holiday Soirée, anyone?). Take a look at what’s being offered. Remember to check dates, locations, and speakers in case these details affect your decisions on which seminars to take. Webinars are also available for our live seminars and are a great alternative if you can’t make it in-person.

Register online or call the office as soon as you know what you want to sign up for. Some seminars, particularly tax updates and 1040s, sell out quickly. The sooner you register, the better.

Stay Informed

Remember that Education Guide I mentioned? While it does lay out our entire schedule for the seminar season, sometimes we are able to add more seminars and webinar rebroadcasts after the Education Guide has been published. Check our website regularly to see if anything new has been added (and to see how many spots are left in a seminar). Likewise, make sure you are subscribed to our email list to receive updates on new seminars as well as reminders and other important information.

Complete CPE Early

Sometimes, we miss the seminars we signed up for. We get sick, cars break down—anything can happen. If possible, try to take your CPE early in the seminar season. If you’re unable to attend, this allows you to reschedule to other seminars throughout the rest of the year.

MSATP hopes you enjoy your holiday season and that, with these tips, you enjoy next year’s even more!