Focus...

In my previous blog, I mentioned a CPA (from Tennessee) that was leading the Senior U.S. Open golf tournament after the first two rounds (as an amateur, playing against the professionals). It would have been a great story if he had won the prestigious tournament and could have garnered much publicity for the CPA profession. But as these stories often go, he faded in the last round and did not win. I did find it interesting that in referencing him during the TV broadcast, the announcers referred to him as “an accountant” rather than a CPA. Interesting…we, in the profession, feel that he should have been referred to as a Certified Public Accountant; not just an accountant.

A few years ago, a CPA from Chattanooga, Tennessee actually won the extremely lucrative World Series of Poker and was on TV often during that tournament and has been spotlighted many times since in subsequent poker tournaments. Chris Moneymaker is his name and the broadcast team consistently referred to him as a “CPA” rather than an accountant. Interesting.

I’m wondering if the analytical nature of “Texas Holdem poker” lead the researchers and broadcast team to be specific and use CPA rather than accountant, or rather if Mr. Moneymaker himself made certain they used CPA.

These recent PR/recognition type opportunities for the CPA profession bring up an interesting trend that began emerging in the 90’s: CPA firms, especially larger firms, are expanding their brand to encompass a broad range of business advisory services to the client rather than the traditional tax and audit services. To promote the knowledge and expertise of their services, many firms went away from using CPA in their firm name. They have gone to “business advisors” or Trusted Business Advisors” and other such verbiage. Some have CPA in their tag line at some point and some don’t.

Also interesting is that the CPA profession has become very specialized in many areas and the achievement and use of specialty designations has risen greatly in the last decade; however, I notice that in using these designations the CPA designation is still (usually) listed first. The CPA designation, as a brand, still promotes trust and expertise and in niche markets the CPA brand still holds the trump card.
The trend is still emerging and if one watches trends closely one finds that they often go in circles. The CPA designation has never lost its “positive power” and CPAs have successfully expanded their services. I believe that the CPA designation will eventually find its way back to prominence in firms “tag lines. “

And congratulations to poker millionaire Chris Moneymaker for having CPA prominently mentioned by the broadcast team! He’s more than an accountant…he’s a CPA!

GJ