Raymond Chan

A Big Win for the Future of Accounting and for the Next Generation of CPAs in California Governor Newsom just signed Assembly Bill 1175, modernizing how CPAs become licensed in California. Starting January 1, 2027, aspiring accountants in California will no longer need to complete the dreaded traditional 150-credit-hour requirement, a barrier that’s discouraged countless talented students from pursuing the CPA route. Instead, the new pathway emphasizes what really matters: • A bachelor’s degree with an accounting concentration • Two years of accounting experience • Passing the CPA exam As a CPA myself, I see this as a long-overdue reset for our profession. The fifth year of education has been one of the largest deterrents for entry, adding cost, debt, and delay at a time when the profession desperately needs new blood. Accounting didn’t “fall out of favor” because the work lost meaning, it fell out because the path became unnecessarily rigid and expensive, while other industries made their entry points faster and more flexible. AB 1175 recognizes that we can uphold quality without gatekeeping access. Even better, the bill strengthens mobility for out-of-state CPAs, streamlining practice reciprocity and reflecting how interconnected today’s business environment really is. And that’s how we revive the CPA pipeline not by lamenting the decline, but by evolving to meet the moment. If you’re a student, young professional, or considering a mid-career shift, drop me a note if you want to talk about what a modern accounting career looks like (especially in a transformation-oriented environment). I'm all for it. 💪 #Accounting #CPA #Finance #Leadership #TalentPipeline #FutureOfWork #California #CBA #PublicAccounting #LicensureReform #CareerDevelopment #ForgeOptima

64

12 Comments

If you’re a CFO trying to land a private-equity role, here’s the truth no one says out loud: PE firms don’t care about your credentials. They care about your chaos. You don’t get hired into PE because you’re “polished.” You get hired because you’ve been punched in the mouth by a business and stayed standing. PE doesn’t want the CFO who kept everything smooth. They want the CFO who kept everything from falling apart. They’re impressed by: • the time you stabilized cash when payroll was 48 hours away • the time you fixed a close that was 15 days late • the time you cleaned up a dumpster-fire ERP • the time you rebuilt a finance team full of passengers • the time you took a business from “WTF” to “we’re fine” PE wants operators, not ornaments. They want CFOs who can walk into a burning building and decide which fire to put out first. So if you want to position yourself for a PE seat: Stop selling perfection. Start selling your scars. Tell the truth about the messes you fixed. Own the ugly projects nobody else wanted. Lead with impact, not acronyms. And stop acting like a slightly shinier Controller, it’s obvious. In PE, pretty résumés get interviews. Battle-tested CFOs get offers. CFOs: what’s the “war story” you’d lead with if you dropped the corporate filter? 👇 #PrivateEquity #CFO #FinanceLeadership #ExecutiveSearch #ValueCreation #PEBacked #CFOCommunity #OperationsExcellence #Leadership #FinancialStrategy

1,018

102 Comments

You can tell a lot about a PE firm by looking at its CFO. Every number tells one story. Every CFO tells another, usually about the partner they work for. After years of recruiting finance leaders, one pattern keeps showing up: the PE CFO starts to mirror the partner. Calm, methodical partner? You’ll see a CFO who plans two quarters ahead. Reactive, deal-chasing partner? That CFO’s running on Slack and caffeine. It’s not good or bad. It’s human. Two people share pressure long enough, and they sync up. That’s why “fit” in a CFO search isn’t about resume lines. It’s about wavelength. Does this CFO thrive under intensity, or burn out from it? Does the partner value process, or pace? The best pairings see the echo and adjust before it becomes noise. If you’ve lived this dynamic, what makes a CFO/partner pairing work? (And when it doesn’t, what cracks first?)👇 #PrivateEquity #CFO #Leadership #Finance #ExecutiveSearch #PEBackedCompanies #CFOLeadership

110

26 Comments

Welcome to Day 2 of "Former auditor says" For anyone who doesn’t know Rivet – our cofounder Kyle Christenson spent six years at the IRS's San Jose office as an auditor, working with individuals and companies around the Bay Area Day 2 of sharing some quotes from around the office... “One of the biggest red flags is when your M-1, M-2, and retained earnings don’t reconcile. People obsess over page one of the return, but auditors start with the balance sheet." "For C corps, retained earnings that grow every year with no distributions is another flag. A sloppy balance sheet attracts audits faster than almost any questionable expense.”"

29

1 Comment

Tax Managers "Know Your Worth" in 2025 Back in 2015, the average Tax Manager in the Bay Area earned around $125K–$150K. Fast forward 10 years → Adjust for inflation + Bay Area cost of living increases, and that same role should now command $240K+ to maintain the same standard of living. Managing clients, partners, teams, and projects, while meeting deadlines is not easy. If you’re a Tax Manager in the Bay Area, you should know your bare minimum and be confident in asking for it. The math says $200K is the floor, not the ceiling in 2025. Don’t sell yourself short for $160K or $175K. At least ask for $200K or above, if not, start your own firm. #TaxManagers #Salary #KnowYourWorth #BayArea #TaxManager #SeniorTaxManager #PublicAccounting #AccountingCareers #TaxStrategy #Leadership #CPA #TaxProfessionals #Tax #PublicAccounting

51

27 Comments

Takeaways every aspiring CFO should know (from a group of top CFOs) “Your first CFO role will expose you." Not re your technical accounting knowledge…your leadership gaps. This is what one CFO is our cohort of CFOs working groups said in one of our working groups facilitated by The Catalyst Project. The consensus was that becoming a CFO isn’t about mastering numbers. It’s about mastering complexity. Here are the takeaways from the discussion: 1. You are no longer the finance expert. - You give the pulse checks: Everyone (from the board to operations)will see the numbers differently. And it’s your job to align them all, without losing the story. 2. You must trade control for influence. - Let it go: There’s not enough time to approve every forecast or chase every budget line. You’ll need lieutenants you trust and the courage to say no to the noise. 3. You will lead culture more than the HR team does. - This one surprised me: The CFO sets the tone for accountability. Spend tells the story of values. “If you want to know what matters then follow the money”, one CFO said. 4. Every mistake is magnified. - Ouch: Cash. Risk. Investor trust. One slip up isn’t just a learning moment…it’s a headline. Precision isn’t just a skill...it’s a survival trait. 5. It will be lonely. Wow...but so common: “You will say NO more than YES” said another CFO. You’ll be seen as the barrier to dreams…until those dreams fail without you. So if you’re keen on stepping into your first CFO role, know this: It’s not a bigger finance job. It’s the most demanding leadership role in the business. “Get ready to build TRUST faster than forecasts” - or both will break.

1,054

109 Comments

CFOs know compensation is their largest expense. A common mistake is treating it only as a cost. In my piece for CFO Dive, I explained why comp is one of the few levers we can actively control in a volatile economy. When managed strategically, it drives performance, retention, and competitive strength — and ultimately positions the business to scale.  https://lnkd.in/et2sZdRQ

55

1 Comment

After what I saw at the Intuit Partner Council I’m convinced AI will change accounting faster than anyone expects. The stuff they’re building is incredible. The pace, the energy, the scale... it felt like standing in the middle of a rushing river. And I won't sugarcoat it: AI is coming for the repetitive side of accounting. And it's coming fast. For smaller, simpler clients, I’d say within 2 to 5 years, 90% of the work will be automated. Clean reconciliations, anomaly detection, and even insights. It’s exciting. But also a little scary. Because when AI can do almost everything, you start asking, *Where does the human fit in?* That question was still on my mind last night when I stopped for food. My guilty pleasure is Taco Bell. They’ve got this AI ordering system that I hate but works fine. It's fast and efficient but soulless. I see that’s what AI accounting will look like for low-cost firms: quick, transactional, “good enough”. But for premium firms that focus on quality and experience, that’s where our opportunity is. Clients won’t pay for button-clicking. They’ll pay for clarity, trust, and the feeling that someone actually understands their business. If you’re still running a Taco Bell firm, it’s time to consider a change. Now.

64

36 Comments