I began reviewing financial statements when I was 10 years old, picking up hay bales for my parents in Colfax, Washington. Little did I realize my consistent counting of the millions of hay bales I picked up and stacked into our barn was accounting at its finest. I was hooked on data and totals all through my education, and I’m sure as I write this, I touched every bale in Whitman County.

As I sat in my first accounting class at Washington State University in the front row, the accounting instructor handed out the lecture notes, and he said, “The financial statements are the following..!” I sat in amazement, knowing my passion for accounting and numbers were in the income statement, balance sheet, and statement of cash flows, a document totaling each summer of hard work for my parents and every other farmer.

Learning the meaning of each number and why it is placed in the financial statements was a process precisely like stacking the hay bales to me. One cannot skip the steps, or the bottom-line totals are off, and you have to go back and correct them. It was just like fixing our tractor or picking up the bales that were not stacked just right. The knowledge I gained on the farm and in the classroom were directly helpful in passing the CPA Exam, being a state and elected auditor, staff accountant, professor of accounting, and now a proud member of the Financial Statement Review Committee for the WSCPA.

The progress of education came full circle during a recent visit to my alma mater.  I stepped into the classroom of that very first accounting course and thought about that initial introduction to the financial statements and everything I learned there.

Our roles as members of this committee and CPAs are to ensure consistency, integrity, and educate those we serve about the purpose of financial statements and investigate where the data comes from and why. Exciting!

Helping others understand the what-if scenarios of all financial statements is about staying the path as remembered by my youth. This is fascinating because each set of financial statements is different, and the perspective used to create them is part of each of our stories to tell from the beginning to now. The Financial Statement Review Committee’s mission and vision are in place, and with your help, it will continue to unfold and be a significant resource to the WSCPA members.

WSCPA members and students across Washington State will benefit from our focus as the schedule of reviewing is set, goals are reached, and members receive beneficial feedback to improve their financial statements. We would like to invite you to join the committee and share this exciting opportunity to tell your story that will impact our profession for years to come.

As a final note, my parents were right that hard work and dedication would pay off, even when confronted with challenges. Trust me, we will account and verify together on the Financial Statement Review Committee and enjoy our time enhancing the community.

If you’re interested in joining the WSCPA Financial Statement Review Committee, contact Roo Mulligan at rmulligan@wscpa.org. To submit your redacted financial statements for review by the committee, learn more here.

Dave Repp, CPA, is Professor of Accounting for Strayer University and Chair of the WSCPA Financial Statement Review Committee. You can contact him at coolbeanstutoring@yahoo.com.