The profession’s fastest-growing opportunities help business owners make decisions—not just balance the books.
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Accounting Conversations
With Chayton Farlee
Center for Accounting Transformation
For many accounting students, the profession appears to offer two primary destinations: tax or audit.
But what if that’s only part of the story?
In the latest episode of Accounting Conversations, host Chayton Farlee, an assurance associate at CliftonLarsonAllen (CLA), welcomes Kaden Cook, CPA, CMA, a virtual CFO with Anders, for a conversation that challenges many of the assumptions students have about accounting careers.
Cook’s own career follows a path that many students may not realize exists. He begins with bookkeeping, gains experience in accounts receivable and accounts payable, discovers outsourced accounting and eventually finds his way into advisory services, where he helps business owners make financial decisions rather than simply report financial results.
That distinction becomes one of the central themes of the conversation.
“Being part of the decision-making process” is what ultimately draws Cook to advisory work. Instead of looking backward at historical financial statements, he spends his days helping clients forecast cash flow, evaluate hiring decisions, monitor project pipelines and understand the financial impact of strategic choices before they’re made.
Throughout the discussion, Farlee and Cook encourage students to look beyond traditional career paths.
They point to the rapid growth of fractional CFO services, cloud accounting and client advisory services as evidence that the profession continues to evolve. Cook believes many of the industry’s talent pipeline challenges stem from students simply not knowing how many career opportunities exist outside of compliance work.
The conversation also explores how seemingly simple roles can provide an invaluable foundation. Cook credits his early bookkeeping experience with teaching him how businesses actually operate, giving him an understanding of processes, cash collections and day-to-day financial management that continues to benefit him as an advisor. Rather than viewing bookkeeping as a career destination, he sees it as a launching pad that accelerates future growth.
Technology is another recurring theme. Working remotely with clients across the country, Cook describes how modern advisory firms leverage cloud platforms, forecasting tools and recurring subscription pricing models to create deeper client relationships while eliminating many of the administrative headaches associated with traditional hourly billing.
Artificial intelligence also enters the discussion. Rather than viewing AI as a threat, Cook argues that accountants who embrace automation will have more opportunities to deliver strategic insight. As routine tasks become increasingly automated, he believes professionals who understand business operations and can interpret information for decision-makers will become even more valuable.
The conversation also offers practical guidance for students preparing for professional credentials. Having earned both the CPA and CMA designations, Cook discusses why he pursued each credential, how they complement one another and why the CPA designation continues to carry significant weight with clients. He also shares an often-overlooked scholarship opportunity through the Institute of Management Accountants that can substantially reduce the cost of earning the CMA while still in school.
Farlee also asks Cook to share lessons from his own networking journey. Cook encourages students to reach out to professionals whose careers genuinely interest them, particularly alumni from their universities. Informational interviews, he says, often open doors that students never expected, while helping them better understand the many directions an accounting career can take.
The episode concludes with encouragement for students who may be struggling through challenging accounting courses or preparing for the CPA Exam. Cook emphasizes consistency over marathon study sessions, encourages students to focus on understanding concepts rather than memorizing answers and reminds future accountants to keep the bigger picture in mind.
Accounting, he argues, is no longer simply about debits and credits. It is increasingly about solving problems, leveraging technology, building relationships and helping businesses make better decisions.
For students wondering what the profession might look like over the next decade, Farlee and Cook offer an optimistic perspective: accounting’s future may be more dynamic—and more rewarding—than many realize.
10 Key Takeaways:
- Accounting offers far more career paths than most students realize. Advisory services, fractional CFO work, cloud accounting and client advisory services are creating exciting alternatives to traditional tax and audit careers.
- Bookkeeping isn’t a step backward—it’s often a springboard. Building a foundation in day-to-day accounting operations helps professionals understand how businesses actually run, making them stronger advisors later in their careers.
- Great advisors help shape decisions, not just report results. The conversation explores the difference between recording financial history and helping business owners make strategic decisions before they happen.
- The future belongs to accountants who can interpret information—not just produce it. As AI automates routine work, professionals who understand business strategy and can translate financial data into actionable insights will become even more valuable.
- Modern accounting firms are redefining flexibility. Remote teams, fixed-fee pricing and subscription-based advisory services are changing how firms serve clients and how accountants build sustainable careers.
- The CPA and CMA designations each bring unique value. Cook explains why he pursued both credentials, how they complement one another and why students should consider earning the CMA while scholarship opportunities are available.
- Networking can accelerate a career long before graduation. Genuine informational interviews with alumni and professionals can open unexpected doors, expand career possibilities and provide valuable mentorship.
- Success on the CPA Exam comes from consistency, not cramming. Cook shares practical study strategies that helped him balance full-time work, family responsibilities and professional certification.
- Technology literacy is becoming a core accounting skill. Understanding cloud accounting platforms, data flows, automation and AI will help tomorrow’s accountants provide greater value to clients and employers.
- Accounting is becoming a profession centered on solving business problems. Technical knowledge still matters, but curiosity, communication, critical thinking and strategic insight are increasingly what distinguish exceptional accountants.