Episode 3: Is Accounting like what they show in the movies? Learn more with Lisa Simpson

We're thrilled to share an enriching conversation we recently had with Lisa Simpson, Vice President of Firm Services at the American Institute of Certified Public Accountants (AICPA). With a wealth of experience spanning several decades, Lisa's journey in the accounting industry is both inspiring and enlightening. Here's a recap of our conversation, highlighting her career path, the diverse opportunities in accounting, and valuable advice for young women considering this field.

Lisa’s Path to Accounting

Lisa's journey into accounting began somewhat serendipitously. She entered college undecided about her career path and stumbled upon the world of accounting through a business class. Captivated by the logical structure and the blend of black-and-white clarity with room for interpretation, she quickly fell in love with the field. Her passion grew as she interned at a local bank and eventually landed a position with Ernst & Young (EY), then part of the Big Eight accounting firms.

A Diverse Career in Accounting

Starting as an auditor, Lisa's career took her through various facets of accounting. She initially worked in audit, where she learned the intricacies of financial statements and the operational aspects of different industries. Later, she transitioned to tax, assisting small businesses with compliance, payroll, and sales tax. This exposure to entrepreneurial environments fueled her interest in supporting business growth and community involvement.

Lisa's career continued to evolve as she moved into industry roles, starting as a controller and advancing to strategic positions focusing on budgeting, cash flow forecasting, and financial planning. Twelve years ago, she joined AICPA, where she now serves as Vice President of Firm Services, guiding CPA firms across the country and addressing emerging challenges and opportunities in the profession.

Opportunities in Accounting

Lisa emphasized the versatility of a career in accounting. Whether it's auditing, tax, forensic accounting, or niche areas like sustainability and technology, the field offers endless possibilities. She highlighted that accountants can specialize in industries such as healthcare, banking, insurance, or even work for non-profits. For those intrigued by technology, the integration of AI and data analytics into accounting practices is an exciting avenue to explore.

Breaking Stereotypes

Lisa addressed the stereotypical portrayal of accountants in media as introverted number-crunchers. Contrary to this image, she described accountants as some of the smartest, funniest, and most engaging professionals she's met. Collaboration and meaningful conversations are integral to the profession, making it far from the solitary, dull job it's often depicted as.

Advice for Aspiring Accountants

For high school students considering a career in accounting, Lisa suggested seeking internships to gain practical experience and insight into the field. She also encouraged taking personal finance classes to build a strong foundation in financial literacy. Understanding the implications of debt, the benefits of early retirement planning, and the basics of income taxes are crucial skills for financial success.

Women in Accounting

Lisa's message to young women is one of empowerment and support. She shared that her closest friends and mentors in the industry are women, and the profession is dedicated to fostering the next generation of female leaders through mentoring and sponsorship. Accounting offers women the opportunity to chart their own paths and make significant impacts in various sectors.

Conclusion

Our conversation with Lisa Simpson shed light on the dynamic and rewarding nature of a career in accounting. From the myriad of specializations to the importance of financial literacy, Lisa's insights are invaluable for anyone considering this path. We hope her story inspires you to explore the exciting opportunities that accounting has to offer.

Stay tuned for more insightful interviews and resources on Girls in Finance! If you're interested in learning more, check out the links provided by Lisa, and take the first step towards a fulfilling career in accounting.