In this enlightening episode of Girls and Finance, the host engages in an in-depth conversation with Stacy Kotterkura, the accomplished CEO and founder of Akumales, a thriving outsourced accounting firm based in Honolulu, Hawaii. Stacy's journey into the world of finance began in an unexpectedly ordinary way - through a high school accounting class that resonated with her natural aptitude for mathematics. This early exposure to accounting proved pivotal, as she appreciated its unique blend of technical skills and interactive elements without requiring overly complex mathematics. Following her instincts, she made the strategic decision to attend USC, specifically chosen for its prestigious top-five accounting program in the nation at the time.
After completing her education, Stacy embarked on a remarkable career trajectory that began at Ernst & Young in Orange County, California. She specifically chose Ernst & Young because of their higher percentage of female partners compared to other firms, a decision that would prove beneficial for her professional development. During her seven-year tenure there, she built a strong foundation in public accounting before transitioning to a role at a real estate development company. Her career took a significant leap when she was recruited to return to Hawaii as the CFO of Forest City at the remarkably young age of 32, making her one of the youngest CFOs in the state. This achievement, she notes, came from a combination of being prepared when opportunity knocked and having built a sterling reputation through consistent hard work.
The next phase of Stacy's career involved serving as the president of another outsourced accounting firm, where she discovered her passion for working with small and medium-sized businesses. This experience opened her eyes to the unique needs of smaller enterprises and the satisfaction of helping them grow through proper financial management. When faced with a divergence in vision with the company's CEO, Stacy took what she describes as a "really big scary leap" to found Akumales seven years ago. Today, the firm employs 16 people and provides comprehensive accounting services, with Stacy's role having evolved from handling all aspects of client service to focusing on business development and strategic priorities.
Throughout the interview, Stacy offers valuable insights into the rapidly evolving landscape of accounting. She emphasizes that while technical aspects like debits and credits are becoming increasingly automated through technology and artificial intelligence, the future belongs to accountants who can combine critical thinking with high emotional intelligence. This shift, she explains, is transforming accountants from mere number crunchers to trusted advisors who can relate to clients and understand their needs on a deeper level.
The conversation takes a particularly meaningful turn when addressing the state of women in accounting. Stacy shares recent statistics showing that while 60% of entry-level accountants are women, this percentage dramatically drops to 40% at the partner level in CPA firms. Drawing from her own experiences of often being the only woman in executive rooms, particularly in male-dominated industries like real estate and construction, she discusses the unique challenges women face. These challenges include limited access to traditional networking opportunities like golf outings and after-work drinks, as well as the complex dynamics of maintaining career momentum while balancing family responsibilities.
Stacy references Sheryl Sandberg's "Lean In" as a formative influence on her perspective regarding work-life balance. She passionately advocates that women shouldn't feel forced to choose between career and family, suggesting instead that creative solutions and supportive partnerships can enable success in both areas. This philosophy has shaped her own approach to leadership and her desire to create more opportunities for women in the field.
For aspiring professionals, particularly those early in their careers, Stacy emphasizes the importance of developing a well-rounded skill set. While technical proficiency is important, she looks for candidates who demonstrate leadership potential, emotional intelligence, and critical thinking abilities. These qualities, she notes, often shine through in experiences outside the workplace, such as volunteer work and leadership roles in various organizations. She particularly emphasizes the value of a well-crafted cover letter that can communicate these soft skills in ways a resume alone cannot.
The interview concludes with Stacy reflecting on the importance of mentorship in her career journey. She credits her early success to having strong female mentors who helped her navigate the professional landscape, particularly during her time at Ernst & Young. This experience has influenced her commitment to fostering the next generation of financial professionals, particularly women, and her dedication to creating an inclusive and supportive environment within her own firm. Through her story and insights, Stacy provides an inspiring example of how determination, strategic thinking, and adaptability can lead to success in the financial industry, while also highlighting the ongoing work needed to achieve greater gender equality in the field.
Comments