Five Minutes with a Young CPA Member

We sat down with Rachel Lloyd, Nashville Chapter Young CPA chair and incoming secretary, to chat about TSCPA. Check out her thoughts:

Rachel Lloyd with husband Josh at a
TSCPA Nashville Chapter
Predators Outing

How did you become involved with TSCPA?
Attended a couple of Young CPA events before becoming a committee member. I wanted to network and get to know other Young CPAs. I wanted to help the next generation of Young CPAs coming out of college.  

What is the main reason you are involved in TSCPA?  
To meet other CPAs (not just my coworkers).  

What is one of the most rewarding things you have experienced with your involvement in TSCPA?  
Before I was the chair of the Nashville Chapter Young CPA committee, I went to a Beta Alpha Psi meeting at MTSU (my alma mater). There were approximately three or four of us, Young CPAs, there and we each told our story of what to expect out of college. The room was packed and the students attending asked lots of questions. So many questions, in fact, that I stayed after the event over an hour and a half answering them. I felt I had helped a few students understand what to expect out of college.

What is the one piece of advice you could give to other young CPAs and/or those that are just passing the exam, getting ready to embark in their career?  

Network, network, network! Most Young CPAs either do not network or are unsure how it is done. The accounting world is not as large as it seems, although I know it may seem that way straight out of college. Don't just put your head down and work away; get involved in something and meet people. The more you do network, the easier it is. Networking is about building relationships.  

What is one thing people would be surprised to know about you?

I played snare drum in the marching band throughout high school in Mt. Juliet and part of college at MTSU. 

Ask an Expert

Q: Right now, I’m struggling with what to do so far as additional certifications go. I’ve got the CPA down, but I’m still in the school/study mindset and want to take advantage of my free time. The only problem is that I don’t know what to look at (e.g. CMA, CIA, CFE, etc.) since I’ve only just started my career and don’t know where I want to end up. I don’t have the money for MBA/MAc at the moment, but it’s also on the to-do list. Where should I start?

A: First off, congratulations on passing your CPA exam so quickly. This is a great accomplishment that will prove to be beneficial for you. When a company/firm is looking to hire someone with a certification, 98 percent of the time that are requesting a CPA.  

As far as other credentials go, I suggest that you assess what direction you want to take your career, and consider specialty designations based on the direction you choose. For example, if you want to pursue Internal Audit or Forensics then you might consider sitting for the CIA or CFE. However, if you aren’t heading in that direction, I wouldn’t waste your time or money. Forensics is something that a lot of people like the sound of, but the opportunities to do that work are fewer (specialized field) than traditional accounting/audit. You will need to network with forensic professionals already doing the work to get an opportunity in that field.

In regards to the CMA, unless you are in a heavy manufacturing/cost environment there is no need for a CMA. In my past experience with working with manufacturing clients looking for cost experience, the majority of the hiring managers still desire a CPA over a CMA.   

When considering going back to school, I would make sure you have a plan before you spend the money for another degree. The majority of individuals that get their MAcc do so to get the required 150 hours, myself included. If I were in your shoes and choosing a graduate degree, I would choose an MBA with the caveat that I would only go back to MBA school if your desire is to be outside a traditional accounting/auditing profession. If you have an interest in the finance side of the world that is where an MBA can become more valuable.

My advice to you would be now that your CPA is under your belt, work the long hours to start establishing a career over the next three-four years and then reassess what you want to do, and keep in mind that your career aspirations can change over time.

About the Expert: Kyle Allen, CPA, is a partner at Vaco Resources in Brentwood, Tenn. He can be reached at
kallen@vaco.com.

Do you have a question that you haven’t found the answer to as it relates to your career? No need to look further for the answer! Submit your question via email to Katie Cheek at kcheek@tscpa.com, and we will ask an expert.