To the People Who’ve Influenced My Career – Thank You!
GAAP Dynamics (formerly GAAP Seminars) was founded in July 2001. That means we’re entering our 17th year of operations…and I’ve been out of college for nearly 25 years! Wow, time flies when you’re having fun!! This Thanksgiving I want to recognize the people who’ve influenced my career and helped us get to where we are today.
My Mom and Two “Dads”
I certainly would not be where I am today without my mom. She demonstrated her love through acts of service. We always had a spotless house, home cooked meals and neatly folded laundry (this might have been the source of a few disagreements early in my marriage, but I digress). Whether in academics or athletics, I always felt supported. She pushed me to do my best. She drove me to every practice and watched every game. In summary, she was my biggest fan!
My parents divorced when I was nine. Luckily, my dad remained in my life. I am an entrepreneur because of him. He taught me the value of a dollar, encouraging me to work during the summers and paying me for good grades, a tradition I have passed on to my kids. He believed that a car gets you from point A to point B and anything more is frivolous. He taught me to live simply, not “jacking up” my lifestyle, and to acquire assets to increase net worth.
When my mom remarried, I added another “dad” who always thought of me as his own. I remember him dragging us to church every Sunday. At the time, I wasn’t a fan, but I now realize that my faith in God is attributable to him and, for that, I will forever be grateful. He was a corporate man, teaching me the fastest way up the corporate ladder was to make your bosses’ lives easier and, when they said “Jump,” the only answer was “How high?” He even helped me land my first job after college at the KPMG office in Richmond, VA.
Dan Perrone and KPMG Richmond
I started KPMG Richmond in September 1993. My starting salary was $27,000. Like most new hires, I jumped around from job to job, no more than 2-3 weeks at any one location. My first year was spent carrying audit supplies, the FASB’s 2-volume Current Text, and my fancy new Macintosh computer to and from each client. From counting frozen chickens in a freezer at a food distributor in Philadelphia to auditing a hospital in Hopewell, VA, I was seeing it all, but not really loving it. That was, until I met Dan Perrone.
A native New Yorker transplanted to the South, Dan was one of the brightest people in the Richmond office and was assigned to all the broker-dealer and investment company clients, which at the time were numerous. They were all located in downtown Richmond and had “fat” budgets where remaining chargeable wasn’t an issue. He taught me about complex accounting topics like fair value, derivatives, and the reporting requirements for broker-dealers.
He even taught me income taxes! At the time, the tax department was “responsible” for auditing the income tax area (my how times have changed). Pissed off about how many hours they were “banging” to his budget, he said “Forget them. Let’s start doing it ourselves. It isn’t that hard!” Dan saw promise in me and took time out of his day to share his knowledge in order to make me a better professional. In turn, I did the same for my staff throughout my 9 years at KPMG, paying it forward, a practice which I continue to this day. In my opinion, the Big 4 profession needs more people like Dan.
I also would be remiss if I didn’t mention that the KPMG Richmond office was a fantastic incubator for talent. KPMG Richmond was where Lynne Doughtie, the current chairman of KPMG, got her start and I had the pleasure of working with her. She is generous and down to earth and has “paid it forward” to numerous other professionals throughout her career. Also, in addition to myself, three other current GAAP Dynamics’ professionals worked in the Richmond office – Bob Laffler, Chris Brundrett, and Christine Leese. Whatever they’re doing at KPMG Richmond to screen and hire candidates, keep it up!
Hieronymus T. Dormann and KPMG Switzerland
After a happy hour welcoming back a professional that did an international rotation with KPMG, my wife asked if we could do something like that. My choices were between Prague, Czech Republic and Zurich, Switzerland. We ultimately chose Zurich, lived there from August 1998 through March 2003, and have never regretted it!
Hieronymus T. Dormann, or “Rony” was the head of the banking department at KPMG Switzerland and hired me for a long-term international rotation. I remember him picking Jeanne and I up at the airport in a two-door, small European hatchback. Our luggage included 3 audit trunks, 4 or 5 suitcases and two cats! While I was comfortable in the front seat with Rony, Jeanne was jammed in the back seat with all the luggage as we took the “scenic route” back to the city so he could show off his beautiful hometown (although he did buy Jeanne a box of Neuhaus champagne truffles which, she said, made up for it)!
He was very generous and genuinely cared for his staff. And he hosted the most memorable staff parties. I will always remember taking a sled to a restaurant on top of a mountain and, after a fantastic dinner where the wine was flowing, sledding down the mountain in toboggans with lit torches! Rony also fostered my teaching career, allowing me to start a U.S. GAAP College in the Zurich office for the local staff, as well as “loaning me” to KPMG’s European Training Centre to teach other Europeans the nuances of U.S. GAAP.
Bob Laffler also joined KPMG Switzerland prior to starting at GAAP Dynamics. Ask him about meeting Rony for the first time and the mysterious figure named Miro!
Richard Stokes
I met Richard Stokes while co-facilitating U.S. GAAP courses with him at KPMG’s European Training Centre in Brussels, Belgium. We taught together for about 18 months before he asked if I had ever thought about doing it full time. I replied “No,” but I’d be willing to give it a go. I left KPMG in July 2001 to start GAAP Seminars (the predecessor of GAAP Dynamics) with him.
He pushed me to become an expert in topics not in my wheelhouse such as income taxes, pensions, inventories, and share based payments. He helped me develop my teaching style, providing me tips and tricks regarding presentation skills. Although very different presenters, some of my best memories in the classroom are co-facilitating U.S. GAAP and IFRS Compared courses with him across Europe. I was the dumb, rash American that needed rules, while he was the intellectual, thoughtful European grounded in principles. It was our shtick and the audience ate it up!
Affectionately referred to by us as “The Godfather,” Richard was instrumental in the early growth of GAAP Seminars and helped me grow as a leader. While I have a tendency to be rash and make quick decisions, he was more thoughtful in his approach. He is the type of leader that knows the right decision, but let’s you come to the realization on your own terms. In addition, Richard was instrumental in helping us negotiate some of our early big “wins” early on projects for Credit Suisse, KPMG International, and Philip Morris International that put our company on the map. GAAP Dynamics certainly would not be where we are today without Richard and, for that, I will forever be indebted to him.
My Wife
GAAP Dynamics wouldn’t even exist and I would not be where I am today without my wife. Early in our marriage, she gave me space to explore several business ventures that never took off. She encouraged me to seek out and accept the international rotation to KPMG Switzerland.
When we were expecting our first child, she told me to “go for it” when deciding whether to leave KPMG and start GAAP Seminars. She even gave up her own career in elementary education for the benefit of mine. During the first 5-6 years, when I would be on the road 100+ days a year teaching U.S. GAAP and IFRS courses, including three-week trips to China twice a year, she took care of the house and kids as a “single” parent.
She is considerate, loving, and appreciative of the fact that my career allows her to stay at home with our three children. She is, without a doubt, the best mother in the world. I can think of no other career for her that is more suited to her or more important for our family. We are truly blessed to have her in our lives!
Closing thoughts
Thank you for reading this blog. It was a cathartic exercise providing me a chance to reflect on my career and those that influenced it. From my family to yours, I wish you a very Happy Thanksgiving!
About GAAP Dynamics
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Disclaimer
This post is for informational purposes only and should not be relied upon as official accounting guidance. While we’ve ensured accuracy as of the publishing date, standards evolve. Please consult a professional for specific advice.