What do you get when a CFO, CPA, and accounting professor starts teaching on TikTok?
42,000 followers and a new way to make accounting finally click.
In this episode of The Diary of a CFO, I sit down with Professor Bee Nance to talk about her multi-hyphenate career, from leading a multimillion-dollar nonprofit to becoming a viral content creator and author of Sunny Gets Money, a financial literacy book for kids.
We cover:
- What it takes to thrive as a nonprofit CFO
- Why even seasoned finance pros struggle with personal money
- How Bee’s classroom experience helped her go viral online
- The disconnect between accounting education and real-world finance
- How to make accounting relatable in the age of AI
00:00:03 --> 00:00:06 Welcome back to the Diary of a CFO podcast. The
00:00:06 --> 00:00:08 podcast where finance leaders share the lessons,
00:00:09 --> 00:00:11 challenges, and wins that shape their careers,
00:00:11 --> 00:00:14 as well as their organizations. Today I'm so
00:00:14 --> 00:00:17 delighted to have with me Professor Baseemah Nance,
00:00:17 --> 00:00:20 also known as Bee. Professor Bee Nance is a licensed
00:00:20 --> 00:00:24 CPA with over 15 years of professional experience
00:00:24 --> 00:00:27 in accounting, budgeting, and financial management.
00:00:27 --> 00:00:31 She works full -time as a CFO. Chief Financial
00:00:31 --> 00:00:34 Administrative Officer of a multimillion -dollar
00:00:34 --> 00:00:37 documentary film not -for -profit while moonlighting
00:00:37 --> 00:00:39 as an accounting professor, accounting translator,
00:00:39 --> 00:00:43 and published author. Welcome to the show, Professor
00:00:43 --> 00:00:46 B. Thank you so much. I'm so excited to be here.
00:00:47 --> 00:00:51 Awesome. You have such an impressive career,
00:00:51 --> 00:00:53 spending from finance, accounting, education,
00:00:54 --> 00:00:56 entrepreneurship. What initially drew you to
00:00:56 --> 00:00:59 accounting, and did you always envision your
00:00:59 --> 00:01:03 career to have so so many dimensions. Yeah, so
00:01:03 --> 00:01:06 I had never heard of accounting before. So I
00:01:06 --> 00:01:09 was in high school. I loved math. I thought I
00:01:09 --> 00:01:11 wanted to be a doctor. Science wasn't my thing.
00:01:12 --> 00:01:14 And so I just did some research and tried to
00:01:14 --> 00:01:17 figure out what kind of jobs made sense for people
00:01:17 --> 00:01:19 who liked math. And that's how I found accounting.
00:01:20 --> 00:01:22 That's awesome. So you have so many roles. I
00:01:22 --> 00:01:25 just want to go role by role, starting with the
00:01:25 --> 00:01:28 one you have now, the first one, which is Chief
00:01:28 --> 00:01:31 Financial and Administrative Officer. Tell us
00:01:31 --> 00:01:34 more about it. What do you find exciting or difficult
00:01:34 --> 00:01:38 about the role? So at this role, I oversee all
00:01:38 --> 00:01:40 of the accounting and finance, but as well as
00:01:40 --> 00:01:43 like the administrative pieces of the work. One
00:01:43 --> 00:01:46 of the exciting things about this role is it
00:01:46 --> 00:01:49 does allow me to really concentrate more on,
00:01:49 --> 00:01:52 like, just the accounting and finance pieces.
00:01:52 --> 00:01:56 But the challenging part is this organization
00:01:56 --> 00:01:59 does a lot of multi -year gifts, and that's my
00:01:59 --> 00:02:02 first time kind of dealing in that arena of accounting
00:02:02 --> 00:02:05 and finance and... Ooh, non -for -profit accounting.
00:02:05 --> 00:02:09 Yes, non -for -profit accounting. So it's non
00:02:09 --> 00:02:11 -for -profit with a little edge, because... It's,
00:02:11 --> 00:02:13 you know, like we do a lot of fundraising for
00:02:13 --> 00:02:17 documentary films and films take five years to
00:02:17 --> 00:02:20 produce. A film can be open for five years and
00:02:20 --> 00:02:23 we're accepting donations. And so tracking that
00:02:23 --> 00:02:26 that money is it's a very interesting challenge.
00:02:26 --> 00:02:30 Oh, wow. Nice. But then before becoming CFO,
00:02:31 --> 00:02:33 you were CEO before and you worked at other.
00:02:34 --> 00:02:36 organization. So can you tell a little bit about
00:02:36 --> 00:02:39 how being a COO maybe have helped you? How did
00:02:39 --> 00:02:41 you get to be a COO in the first place, especially
00:02:41 --> 00:02:44 since you're starting in accounting? So I started
00:02:44 --> 00:02:47 that role as a director of finance. I think over
00:02:47 --> 00:02:50 time, I was there for seven years. Over time,
00:02:50 --> 00:02:53 my role kind of grew and took on different elements
00:02:53 --> 00:02:56 because I'm a multi -passionate person. And so
00:02:56 --> 00:02:59 I also do really well in person with like meeting
00:02:59 --> 00:03:01 people and helping with programming and other
00:03:01 --> 00:03:05 things. And so when it came time to advance,
00:03:05 --> 00:03:07 it didn't make sense for me to be just chief
00:03:07 --> 00:03:10 financial officer because I was doing so many
00:03:10 --> 00:03:13 other pieces of the program as well. In addition
00:03:13 --> 00:03:16 to finance, in addition to HR, in addition to
00:03:16 --> 00:03:19 administrative, I was also over some of the operational
00:03:19 --> 00:03:25 pieces. Wow. That's a lot. even within it. What
00:03:25 --> 00:03:29 do you think makes a CFO successful in that space,
00:03:29 --> 00:03:32 in a not -for -profit space? Because in any organization,
00:03:32 --> 00:03:35 yes, you will have to deal with a lot as a CFO.
00:03:35 --> 00:03:38 Some say you're a therapist, you're the friend,
00:03:38 --> 00:03:41 you're the buffer. You have to go beyond just
00:03:41 --> 00:03:43 finance and accounting, but I feel like in not
00:03:43 --> 00:03:46 -for -profits, there is also other aspects that
00:03:46 --> 00:03:48 you have to be aware of or intentional about.
00:03:49 --> 00:03:51 What would you say about that? Flexibility is
00:03:51 --> 00:03:55 like so important. I think in nonprofit organizations,
00:03:55 --> 00:03:57 because of the lack of resources, a lot of times
00:03:57 --> 00:04:00 we end up wearing so many hats. Being open in
00:04:00 --> 00:04:04 my last role, being open to be more a part of
00:04:04 --> 00:04:07 the programming and the operations really helped
00:04:07 --> 00:04:10 me get to the chief level, honestly, because
00:04:10 --> 00:04:13 I showed that I was able to take on more and
00:04:13 --> 00:04:16 be diverse in the things that I could manage.
00:04:16 --> 00:04:18 And the thing that a lot of times we don't think
00:04:18 --> 00:04:20 about is that accounting and finance lends itself
00:04:20 --> 00:04:24 so perfectly to other things. So we're good at
00:04:24 --> 00:04:26 numbers, but there are a lot of other aspects
00:04:26 --> 00:04:30 of like a nonprofit organization. We graduated
00:04:30 --> 00:04:32 from a school of business. So, you know, like
00:04:32 --> 00:04:34 when you put your business hat on, a little HR,
00:04:35 --> 00:04:37 a little a little you dabble in so many things.
00:04:37 --> 00:04:39 And so that really just makes you really marketable
00:04:39 --> 00:04:42 when it comes to trying to advance in your career.
00:04:42 --> 00:04:46 And that shows. how accounting can be your superpower,
00:04:46 --> 00:04:48 right? Having that background, which leads me
00:04:48 --> 00:04:52 to your second role, which is professor. Like,
00:04:52 --> 00:04:55 what drew you to teaching? I'm always amazed
00:04:55 --> 00:04:57 at people who are in teaching for two reasons.
00:04:57 --> 00:05:00 First, COVID, and I had my two young kids at
00:05:00 --> 00:05:02 home, and I'm like, how do these teachers do?
00:05:02 --> 00:05:04 And then also realizing I don't have the patience.
00:05:05 --> 00:05:08 I know the stuff. If I explain twice, I turn
00:05:08 --> 00:05:10 into the Tasmanian devil. Like, why don't you
00:05:10 --> 00:05:14 get? So what drew you to teaching? How do you
00:05:14 --> 00:05:18 like it? Well, so my mom is actually a teacher.
00:05:18 --> 00:05:20 She was, she graduated, she retired a couple
00:05:20 --> 00:05:23 of years ago. And so I feel like it was something
00:05:23 --> 00:05:26 that was always kind of in the background and
00:05:26 --> 00:05:29 like it was in my blood. And then it came to
00:05:29 --> 00:05:32 the surface, but I don't know if I would have
00:05:32 --> 00:05:34 done it in grade school, but I teach accounting.
00:05:35 --> 00:05:38 And it's just something that I don't know. I
00:05:38 --> 00:05:40 feel like it's like a passion that snuck up on
00:05:40 --> 00:05:43 me. And so when I got the opportunity to teach,
00:05:43 --> 00:05:46 you know, I took it. And then I honestly feel
00:05:46 --> 00:05:49 like one of the teaching jobs I had is one of
00:05:49 --> 00:05:51 the, one of my favorite jobs that I've had in
00:05:51 --> 00:05:54 my career, the full -time teaching jobs. Tell
00:05:54 --> 00:05:56 us more. So what grade or what part of accounting
00:05:56 --> 00:06:00 do you teach typically the topics? I do a lot
00:06:00 --> 00:06:02 of intro to accounting. Those, I love the babies,
00:06:02 --> 00:06:05 you know, the intro, like they come in. thinking
00:06:05 --> 00:06:07 about debits and credits as it relates to like
00:06:07 --> 00:06:09 their bank account. And I'm like, no, don't think
00:06:09 --> 00:06:11 of that. Like, forget that. That's my favorite
00:06:11 --> 00:06:13 part. I love doing that. So I've done advanced
00:06:13 --> 00:06:15 accounting. I've done a lot of cost accounting,
00:06:15 --> 00:06:17 managerial accounting. But my favorite is financial
00:06:17 --> 00:06:21 intro accounting 101. And I always teach for
00:06:21 --> 00:06:24 the most part at community colleges. But right
00:06:24 --> 00:06:27 now I'm also teaching kind of a little bit on
00:06:27 --> 00:06:30 my TikTok channel. You know, I have a YouTube
00:06:30 --> 00:06:33 page as well. So I just try to... drop nuggets
00:06:33 --> 00:06:37 when I can. That is awesome. Because accounting
00:06:37 --> 00:06:39 is hard. The debits and the credits, I think
00:06:39 --> 00:06:43 it's that time where everybody, I feel, either
00:06:43 --> 00:06:45 gets it or you don't. And that's the part you
00:06:45 --> 00:06:46 either hate it or you're going to love accounting.
00:06:46 --> 00:06:49 For me, I went into my first class and I was
00:06:49 --> 00:06:52 like, yes, this is so cool. And my roommate was
00:06:52 --> 00:06:55 like, what the heck? Because we took it together.
00:06:55 --> 00:06:58 So you just mentioned your TikTok page. And I
00:06:58 --> 00:07:02 know you went viral on TikTok. So. And you are
00:07:02 --> 00:07:04 known as the accounting translator. You have
00:07:04 --> 00:07:06 educational content, like you said, on YouTube.
00:07:07 --> 00:07:10 Tell us more. Like, how is that going for you?
00:07:10 --> 00:07:14 It's been a whirlwind, really, because I've always
00:07:14 --> 00:07:16 been putting out content and, you know, kind
00:07:16 --> 00:07:20 of just as it feels right. But this is, like,
00:07:20 --> 00:07:23 kind of going viral. So I went from almost 700
00:07:23 --> 00:07:27 followers or something to, like, 42 . it
00:07:27 --> 00:07:29 kind of made me feel like, oh, okay, this is
00:07:29 --> 00:07:31 really something. Let me try to organize this.
00:07:31 --> 00:07:33 Let me try to, like, so I threw together a syllabus,
00:07:33 --> 00:07:37 like, over the weekend after this happened. And
00:07:37 --> 00:07:39 I've been trying to follow along pretty well.
00:07:39 --> 00:07:41 So I feel like sometimes things happen in our
00:07:41 --> 00:07:45 life where it forces us to, like, get serious
00:07:45 --> 00:07:47 about something that's probably already been
00:07:47 --> 00:07:49 there in the back, just marinating, and it's
00:07:49 --> 00:07:53 like, oh, now it's time to cook. Yes, yes. I
00:07:53 --> 00:07:57 think it also tells a lot about traditional education,
00:07:57 --> 00:08:01 right? Because what we've seen in the news, the
00:08:01 --> 00:08:03 accounting news, I should say, is we have less
00:08:03 --> 00:08:06 people enrolling in college. But then here you
00:08:06 --> 00:08:09 are, you go on TikTok, you do a video about that
00:08:09 --> 00:08:11 accounting that we say we don't have enough students
00:08:11 --> 00:08:15 for, and you go viral. How do you have to change
00:08:15 --> 00:08:17 the content, maybe the way you are approaching
00:08:17 --> 00:08:20 it on social media, versus what you do in the
00:08:20 --> 00:08:23 classroom? Yeah, I think it's the age -old thing
00:08:23 --> 00:08:26 that happens where, like, with each new generation,
00:08:26 --> 00:08:29 we have to figure out new ways to reach the new
00:08:29 --> 00:08:31 generation. Especially in accounting, for me,
00:08:31 --> 00:08:34 like, as a teacher, I think a lot about AI and
00:08:34 --> 00:08:37 automation and how it's affecting the new up
00:08:37 --> 00:08:39 -and -coming accountants. Especially, I teach
00:08:39 --> 00:08:42 at Unity College, and so most of them will be,
00:08:42 --> 00:08:45 like, bookkeepers and, like, intro -level accountants,
00:08:45 --> 00:08:48 and a lot of that work now is being done with
00:08:48 --> 00:08:51 automation. What I try to do is teach skills
00:08:51 --> 00:08:54 that... give them a leg up. And so I think part
00:08:54 --> 00:08:57 of what happens with TikTok is it presents like
00:08:57 --> 00:09:00 a unique opportunity because I'm not held by
00:09:00 --> 00:09:05 the confines of a curriculum that is kind of
00:09:05 --> 00:09:07 loosely given when you teach at a college. It's
00:09:07 --> 00:09:10 like, I can teach accounting from a personal
00:09:10 --> 00:09:12 accounting perspective, which is kind of what
00:09:12 --> 00:09:14 I'm doing is like your personal income statement,
00:09:15 --> 00:09:17 your personal budget. and I have accountants
00:09:17 --> 00:09:19 on there who are commenting like, I never understood
00:09:19 --> 00:09:22 this until you told me equity was net worth.
00:09:22 --> 00:09:26 I'm like, those concepts that overlap and it
00:09:26 --> 00:09:29 just gives more freedom to be able to discuss
00:09:29 --> 00:09:31 these things in ways that people can really understand
00:09:31 --> 00:09:34 and relate to their everyday life. Wow. So what
00:09:34 --> 00:09:37 was that video that went viral? Like, what was
00:09:37 --> 00:09:39 the topic? How was it presented? And what does
00:09:39 --> 00:09:41 it really say about how we teach it in college?
00:09:42 --> 00:09:45 Basically, it started with another professor,
00:09:45 --> 00:09:48 Dr. Barlow, who just got on TikTok and did an
00:09:48 --> 00:09:52 intro for her actual real -life African American
00:09:52 --> 00:09:55 history course. And then a lot of other professors
00:09:55 --> 00:09:58 got on and did an intro for their make -believe
00:09:58 --> 00:10:00 courses that was kind of a combination that would
00:10:00 --> 00:10:03 be like a combination with her course. That was
00:10:03 --> 00:10:06 the video for me that went viral. where I was,
00:10:06 --> 00:10:09 welcome to Intro to Accounting. I see that you've
00:10:09 --> 00:10:11 been enrolled in Dr. Barlow's class and these
00:10:11 --> 00:10:13 other classes, but now you need an accounting
00:10:13 --> 00:10:16 class. And I'm here to answer that call, basically.
00:10:17 --> 00:10:21 Wow, that's amazing. And what would you say are
00:10:21 --> 00:10:24 some of the, some of the topic that people probably
00:10:24 --> 00:10:26 found refreshing, like you said, about equity,
00:10:27 --> 00:10:29 about learning, that they probably didn't see
00:10:29 --> 00:10:32 or learn through school? I think that's been
00:10:32 --> 00:10:35 the biggest one so far is I developed like a
00:10:35 --> 00:10:37 spreadsheet, a Google sheet that I give away
00:10:37 --> 00:10:40 for free where people can go and actually fill
00:10:40 --> 00:10:43 in their personal information. I think the lesson
00:10:43 --> 00:10:46 that's been the most engaging so far has been
00:10:46 --> 00:10:48 like the personal income statement conversation.
00:10:49 --> 00:10:51 I developed an Excel spreadsheet where people
00:10:51 --> 00:10:55 can go and drop in their personal finance information
00:10:55 --> 00:10:58 and take a look at like where. where they are
00:10:58 --> 00:11:01 they're spending from a monthly perspective so
00:11:01 --> 00:11:03 they drop in their revenue their money coming
00:11:03 --> 00:11:05 in they drop in their expenses money going out
00:11:05 --> 00:11:07 and then they look and they see kind of what
00:11:07 --> 00:11:09 that is and then we take it the next step and
00:11:09 --> 00:11:12 look at it from a budget perspective okay so
00:11:12 --> 00:11:13 this is how much you spend in January what does
00:11:13 --> 00:11:16 that mean for your budget did you overspend basically
00:11:16 --> 00:11:20 it's making them look at their finances which
00:11:20 --> 00:11:22 i think some of them we avoid a lot of times
00:11:22 --> 00:11:25 but it's really i think pulling them in at a
00:11:25 --> 00:11:28 level you can talk about yourself, right? You
00:11:28 --> 00:11:30 can look at yourself. Accounting makes you look
00:11:30 --> 00:11:33 at businesses, and a lot of the conversations
00:11:33 --> 00:11:36 relate to businesses, and you can do it for business.
00:11:36 --> 00:11:37 But when you're thinking about yourself, you're
00:11:37 --> 00:11:39 looking at your bank account, I think that's
00:11:39 --> 00:11:42 a way that that's an intro for people that makes
00:11:42 --> 00:11:44 it easy for them to come into the conversation.
00:11:45 --> 00:11:47 Wow. It's really eye -opening for myself because
00:11:47 --> 00:11:50 I remember when I was going to college, the only
00:11:50 --> 00:11:54 example in a textbook was Tootsie Roll. the Wiley
00:11:54 --> 00:11:58 Book Tootsie Roll Manufacturing Company. And
00:11:58 --> 00:12:00 pretty much throughout your curriculum, you are
00:12:00 --> 00:12:03 studying, you know, their cost of goods sold
00:12:03 --> 00:12:06 and studying all these things. And really, the
00:12:06 --> 00:12:08 way you are approaching it is bringing it more
00:12:08 --> 00:12:12 personal, so the accounting part makes more sense.
00:12:12 --> 00:12:16 I think that's truly, truly brilliant. And what
00:12:16 --> 00:12:17 would you say are some of the things that we
00:12:17 --> 00:12:21 could do better at the college level? Not just
00:12:21 --> 00:12:24 to increase the enrollment, the whole experience
00:12:24 --> 00:12:28 of learning accounting and finance. I think the
00:12:28 --> 00:12:32 foundation information that we learn is so important.
00:12:32 --> 00:12:35 It's so like you can't move away from it because
00:12:35 --> 00:12:38 systems will break down or they, you know, it's
00:12:38 --> 00:12:41 still only as good as what you put in it. But
00:12:41 --> 00:12:44 I do feel like there is a need for more emphasis
00:12:44 --> 00:12:48 on the types of fintech is like crazy nowadays.
00:12:48 --> 00:12:50 I did teach like a computerized accounting where
00:12:50 --> 00:12:53 we did some QBL, like some QuickBooks. lessons,
00:12:53 --> 00:12:56 which was I think was really helpful. But I feel
00:12:56 --> 00:12:58 like that's like even QuickBooks nowadays. It's
00:12:58 --> 00:13:01 just like it's not old. It's still necessary.
00:13:01 --> 00:13:03 But there's just like so many more levels to
00:13:03 --> 00:13:07 it. We could set our students up better if they
00:13:07 --> 00:13:10 come out of school with more information on how
00:13:10 --> 00:13:13 to use some of the financial technology that
00:13:13 --> 00:13:16 exists so that they are getting ahead of AI.
00:13:16 --> 00:13:20 So it's like, yes, I know I'm a bookkeeper, but
00:13:20 --> 00:13:22 I know how to use these systems. And so that's
00:13:22 --> 00:13:24 why you should hire me. Yes, that's definitely
00:13:24 --> 00:13:26 Edge. And I think another one that would be nice
00:13:26 --> 00:13:29 would be different industries, right? Like I
00:13:29 --> 00:13:31 said, it was Tootsie Roll. It was all manufacturing.
00:13:32 --> 00:13:34 And when I came out of college, the company I
00:13:34 --> 00:13:37 worked for was manufacturing and technology,
00:13:37 --> 00:13:39 so they had software development. And then they
00:13:39 --> 00:13:41 wanted to do subscriptions. And I was like, this
00:13:41 --> 00:13:43 was not in the pamphlet. It wasn't in the book.
00:13:43 --> 00:13:46 We could do more. Oh, gosh, that's such a good
00:13:46 --> 00:13:48 point. And even in the nonprofit world, like,
00:13:49 --> 00:13:51 I started off with an internship. at a public
00:13:51 --> 00:13:53 accounting firm because that's kind of, with
00:13:53 --> 00:13:56 the book, the textbook, and the teachers, that's
00:13:56 --> 00:13:59 kind of the way that they push you. And then
00:13:59 --> 00:14:01 I got there and was like, oh my gosh, I don't
00:14:01 --> 00:14:05 like this. So I felt lost, you know? So eventually
00:14:05 --> 00:14:07 I found nonprofit accounting, but it wasn't necessarily
00:14:07 --> 00:14:11 due to any help that I received in college or
00:14:11 --> 00:14:13 school. I just knew what I didn't want to do
00:14:13 --> 00:14:15 based off of what we were being pushed towards.
00:14:15 --> 00:14:19 So that's a really good point, is a more thorough...
00:14:20 --> 00:14:22 Illustrations of, like, all the different things
00:14:22 --> 00:14:25 that you can do in accounting. Not just public
00:14:25 --> 00:14:27 accounting, but, like, industry, manufacturing,
00:14:28 --> 00:14:29 like, all the things that you just said. Government,
00:14:30 --> 00:14:34 nonprofit, education. Sass. Like, it's huge.
00:14:34 --> 00:14:37 And even now, into Treasury and FP &A, like,
00:14:37 --> 00:14:40 there is stuff that I didn't even know. back
00:14:40 --> 00:14:42 in college, because I feel like we are either
00:14:42 --> 00:14:44 in investment banking, if you finance, you don't
00:14:44 --> 00:14:47 think FP &A, and if you're accounting, it's going
00:14:47 --> 00:14:49 to be a public accounting CPA, and you're like,
00:14:49 --> 00:14:53 eh, I'm not sure about it. Exactly. I feel like
00:14:53 --> 00:14:57 even now, as somebody who's been in the profession
00:14:57 --> 00:15:00 for a while, things will happen, and I've had
00:15:00 --> 00:15:01 conversations with people, and they feel like
00:15:01 --> 00:15:03 they wanted to leave the profession. I think
00:15:03 --> 00:15:06 we were talking to somebody at lunch, and I think
00:15:06 --> 00:15:09 A lot of times the reason that happens is because
00:15:09 --> 00:15:13 we feel trapped in the segment of the accounting
00:15:13 --> 00:15:16 profession that we have been in or that we're
00:15:16 --> 00:15:19 looking at. And so we don't see that the accounting
00:15:19 --> 00:15:22 profession is so wide and there's so many ways
00:15:22 --> 00:15:26 that you can go in it. That's really not good.
00:15:26 --> 00:15:28 It's not. And I'm glad you're doing your part
00:15:28 --> 00:15:32 being so involved in colleges beyond being a
00:15:32 --> 00:15:35 CAO. and being on TikTok on YouTube, but you're
00:15:35 --> 00:15:39 also an author. You wrote Sunny Gets Money. Please
00:15:39 --> 00:15:43 share about the book, because I was like, yes,
00:15:43 --> 00:15:45 Waseea, maybe I should start writing a book,
00:15:45 --> 00:15:49 man, after two pages. Again, renewed appreciation,
00:15:49 --> 00:15:54 besides teacher to author, so amazing. Tell us
00:15:54 --> 00:15:57 more about your book. So, Sunny Gets Money is
00:15:57 --> 00:16:00 a financial literacy book for kids. It's a picture
00:16:00 --> 00:16:03 book. My husband did the illustration. for it.
00:16:03 --> 00:16:07 And for me, it's just when I look at like as
00:16:07 --> 00:16:11 as a black American, there are just so many lessons
00:16:11 --> 00:16:15 that we don't learn from a financial literacy
00:16:15 --> 00:16:19 perspective. So just how to save how to invest
00:16:19 --> 00:16:22 our money, how to get good credit and keep good
00:16:22 --> 00:16:24 credit. Book doesn't go into all of that, but
00:16:24 --> 00:16:28 all of that was kind of the reason behind writing
00:16:28 --> 00:16:31 this book is I was looking at our kids, my son,
00:16:31 --> 00:16:34 who was the inspiration for the image on the
00:16:34 --> 00:16:36 cover. And, you know, we wanted it to be like
00:16:36 --> 00:16:39 a black boy, a chocolate black boy. I'm thinking
00:16:39 --> 00:16:43 about him and his experience with money as he,
00:16:43 --> 00:16:45 you know, goes out into the world. And I don't
00:16:45 --> 00:16:47 want it to be like my experience with money where,
00:16:47 --> 00:16:50 you know, I had to make so many mistakes before
00:16:50 --> 00:16:54 I learned from them and got better. I want our
00:16:54 --> 00:16:57 children to, that financial stuff to be instilled
00:16:57 --> 00:16:59 in them, like growing up, like they learn how
00:16:59 --> 00:17:01 to walk, they learn how to tie their shoe, they
00:17:01 --> 00:17:03 learn how to save. It's just like, that's just
00:17:03 --> 00:17:06 a part of growing up. My thought process was
00:17:06 --> 00:17:09 to get the kids, get to the kids. Not that they're
00:17:09 --> 00:17:12 too far gone, but I want the kids. Yes, and the
00:17:12 --> 00:17:15 adults probably needed to, because I was speaking
00:17:15 --> 00:17:18 with my financial advisor, and he was like, Waseya,
00:17:18 --> 00:17:22 you'd be amazed at how many people work in finance
00:17:22 --> 00:17:25 and accounting, and that finances are not what
00:17:25 --> 00:17:28 it should be. Like, we do such a good job for
00:17:28 --> 00:17:31 companies, the companies that we run, the companies
00:17:31 --> 00:17:33 that we keep the books for, the companies we
00:17:33 --> 00:17:36 do the FBN and the Treasury for, but for our
00:17:36 --> 00:17:40 own finances, we're not that great at managing
00:17:40 --> 00:17:43 them. Yes. Yes. I felt like a hypocrite for years.
00:17:43 --> 00:17:46 I had horrible credit. And part of that is, you
00:17:46 --> 00:17:49 know, some of the... those hard lessons. I messed
00:17:49 --> 00:17:51 up my credit in college. You know, I didn't know
00:17:51 --> 00:17:54 how to get out of the hole that I was in. And
00:17:54 --> 00:17:56 so, being an accountant, counting other people's
00:17:56 --> 00:17:59 money, you know, figuring out, like, giving other
00:17:59 --> 00:18:01 people advice, it felt so hypocritical because
00:18:01 --> 00:18:03 behind the scenes, I'm like, I can't even apply
00:18:03 --> 00:18:06 for a credit card if I wanted one. So, yeah,
00:18:06 --> 00:18:09 what you're saying is exactly... It's a thing
00:18:09 --> 00:18:12 that we deal with. How can we do better, though?
00:18:12 --> 00:18:15 Like, I like how you have your book already for
00:18:15 --> 00:18:17 kids, and maybe I'm suggesting you to do one
00:18:17 --> 00:18:20 for adults, but no pressure there. But how do
00:18:20 --> 00:18:23 you think, like, why do you think we, in that
00:18:23 --> 00:18:25 state, really? It's almost, because when I heard
00:18:25 --> 00:18:28 it from my financial advisor, I was like, huh,
00:18:29 --> 00:18:32 I'll always feel like we will be, you know, top
00:18:32 --> 00:18:35 of the game. I know Dave Ramsey. how to survey
00:18:35 --> 00:18:37 and he was talking about the people that the
00:18:37 --> 00:18:39 next door millionaire, right? The people that
00:18:39 --> 00:18:41 we wouldn't know are doing so great in their
00:18:41 --> 00:18:44 personal finances. But what would you say are
00:18:44 --> 00:18:47 some of the reasons we are in that state as finance
00:18:47 --> 00:18:49 and accounting professionals? I think it's like
00:18:49 --> 00:18:51 a don't ask, don't tell, don't talk about it.
00:18:51 --> 00:18:55 Just like go keep moving along. I think the problem
00:18:55 --> 00:18:59 with that is like I had bad credit for years
00:18:59 --> 00:19:01 and nobody knew. It's one of those like taboo
00:19:01 --> 00:19:04 things to talk about, especially I think when
00:19:04 --> 00:19:06 you're an accountant, accounting and finance
00:19:06 --> 00:19:09 professional, because there is an expectation
00:19:09 --> 00:19:13 that my CPA who's giving me advice is killing
00:19:13 --> 00:19:16 this, right? It's already their life is completely
00:19:16 --> 00:19:20 set up and we're human. And especially from a
00:19:20 --> 00:19:22 credit perspective, you know, it takes years
00:19:22 --> 00:19:25 to get good or bad credit. You know, it can.
00:19:25 --> 00:19:29 And so there's a level of shame. that comes along
00:19:29 --> 00:19:32 with it when you're not in tip -top shape and
00:19:32 --> 00:19:34 you're an accountant. And I think that that's
00:19:34 --> 00:19:36 like a huge misconception because, first of all,
00:19:36 --> 00:19:38 we count money for businesses, not individuals
00:19:38 --> 00:19:43 most of the time. And just because I'm counting
00:19:43 --> 00:19:45 the money for an organization doesn't necessarily
00:19:45 --> 00:19:48 mean that everything in my life has flown in
00:19:48 --> 00:19:51 a way that has allowed me to be able to do that.
00:19:51 --> 00:19:54 You know, a lot of things happen that put people
00:19:54 --> 00:19:56 in difficult situations. You could have had the
00:19:56 --> 00:19:59 best... situation and then you get divorced somebody
00:19:59 --> 00:20:02 passes away so there's a lot of things that will
00:20:02 --> 00:20:04 explain it but i think it's just we just don't
00:20:04 --> 00:20:07 talk about wow thank you so much for sharing
00:20:07 --> 00:20:11 that and going back to you having that accounting
00:20:11 --> 00:20:15 as a superpower right so you were you were cfoc
00:20:15 --> 00:20:17 You were a COO before becoming a CFO, which is
00:20:17 --> 00:20:20 amazing. You are a professor, you teach accounting.
00:20:21 --> 00:20:23 You are translating accounting for people on
00:20:23 --> 00:20:27 TikTok. You wrote a book for kids and you soon
00:20:27 --> 00:20:30 do one for adults. How do you, would you say
00:20:30 --> 00:20:32 all these things come together? Like, how do
00:20:32 --> 00:20:35 you balance all these roles? How can probably
00:20:35 --> 00:20:38 one feed another? Like, how does it come together
00:20:38 --> 00:20:41 for you? I think when I really take a step back
00:20:41 --> 00:20:45 and I look at it, accounting... at its foundation
00:20:45 --> 00:20:47 is my passion. And so when you have a passion
00:20:47 --> 00:20:50 for something, it doesn't feel like work. Now,
00:20:50 --> 00:20:53 there are other things about the actual work
00:20:53 --> 00:20:55 that I do that feels like work, but the TikTok,
00:20:56 --> 00:20:59 the book, the, you know, translation, the accounting
00:20:59 --> 00:21:02 superpower, like speaking and things like that,
00:21:02 --> 00:21:05 it doesn't feel like work. I'm always trying
00:21:05 --> 00:21:07 to find time to do it because it's like... Oh,
00:21:07 --> 00:21:10 what can I do on TikTok today? Like I made, after
00:21:10 --> 00:21:13 the Super Bowl, I made like a video at, you know,
00:21:14 --> 00:21:15 Kendrick Lamar because it was just, it's just
00:21:15 --> 00:21:22 fun for me. And so I did a video about like Kendrick
00:21:22 --> 00:21:24 Lamar's accountant while he's performing, you
00:21:24 --> 00:21:26 know, like from that point of view. And so it's
00:21:26 --> 00:21:29 just, you know, stuff like that is fun for me.
00:21:29 --> 00:21:32 I think it's also needed. And so that's where
00:21:32 --> 00:21:34 like my passion and the needs of the world kind
00:21:34 --> 00:21:37 of interconnect. So, because of that, it doesn't
00:21:37 --> 00:21:41 feel like I'm doing... When you list it out like
00:21:41 --> 00:21:45 that, it makes it feel like, like... Oh, I get
00:21:45 --> 00:21:46 the same. That's why I'm asking you, because
00:21:46 --> 00:21:50 we so much alike. Oh, my God. We are. But I don't
00:21:50 --> 00:21:54 think it feels like work in that way, for aspects
00:21:54 --> 00:21:56 of it. And so, I think one of the things that
00:21:56 --> 00:21:59 I'm looking forward to doing in the future is
00:21:59 --> 00:22:02 figuring out how to get more into those pieces
00:22:02 --> 00:22:04 that don't feel like work and further away from
00:22:04 --> 00:22:07 some of the pieces. that are feeling like work
00:22:07 --> 00:22:12 and draining and things like that. Yes, I think
00:22:12 --> 00:22:14 it's a draining part because when you do something
00:22:14 --> 00:22:18 you enjoy, the energy comes. Even if you felt
00:22:18 --> 00:22:20 like you were down, when you're doing something
00:22:20 --> 00:22:23 you like, like, sometimes at the end of the day,
00:22:23 --> 00:22:25 I'll be like, oh, somebody's calling me as one
00:22:25 --> 00:22:27 of my mentee or coachee. And I'm like, oh, I'm
00:22:27 --> 00:22:30 sad. But then I get energy. And I'm like, oh,
00:22:30 --> 00:22:31 yeah, yeah, you should do this. You should do
00:22:31 --> 00:22:33 this. Have you tried this? And I'm excited. And
00:22:33 --> 00:22:35 I hear the success stories. And I'm like, yes,
00:22:35 --> 00:22:39 we're winning. The energy comes to do those extra
00:22:39 --> 00:22:43 things. It's amazing. Yes, it is amazing. It's
00:22:43 --> 00:22:45 amazing what you can do in the evening, late
00:22:45 --> 00:22:47 in the evening, when normally you're like, oh,
00:22:47 --> 00:22:50 I'm too tired. Uh -huh. But you still have energy
00:22:50 --> 00:22:52 for that thing. And I think there's something
00:22:52 --> 00:22:55 there. There's something where it's like, oh,
00:22:55 --> 00:22:57 I should explore this more. And I'm like, I feel
00:22:57 --> 00:22:59 like I'm talking to myself. I'm giving myself
00:22:59 --> 00:23:00 like a little sermon, like I should explore this
00:23:00 --> 00:23:04 more. But I think that's a big piece of it, is
00:23:04 --> 00:23:07 like really leaning in and like paying attention,
00:23:07 --> 00:23:11 like being. aware of those pieces of even if
00:23:11 --> 00:23:13 it's your job is like what parts of this job
00:23:13 --> 00:23:16 feel like it gives me joy and what other parts
00:23:16 --> 00:23:19 feel like it's draining and then Obviously, it's
00:23:19 --> 00:23:22 a job. So sometimes you can't not do the draining
00:23:22 --> 00:23:29 part, but maybe you can get somebody else That
00:23:29 --> 00:23:36 is amazing and and I think to as leaders we don't
00:23:36 --> 00:23:39 like to admit it but Yes, you also need healthier
00:23:39 --> 00:23:41 things that you have to do, because you have
00:23:41 --> 00:23:44 to do, but it can also empower somebody else.
00:23:45 --> 00:23:48 Like, what you find draining in your role, probably
00:23:48 --> 00:23:50 because you've done it so much, will be so empowering
00:23:50 --> 00:23:53 for somebody else. Oh, my gosh, yes. They'll
00:23:53 --> 00:23:55 be like, yes, I want to do some of it, but you
00:23:55 --> 00:23:57 have done it so many times. Oh, I have to do
00:23:57 --> 00:23:59 it again. Like, oh, I have to report to the board
00:23:59 --> 00:24:02 again. Like, oh, I want to do this. Yes. So,
00:24:02 --> 00:24:05 not a bad thing. It's so true. It's not a bad
00:24:05 --> 00:24:07 thing. Now, what would you say you do outside
00:24:07 --> 00:24:11 of work? So I know work, work, work for you is
00:24:11 --> 00:24:12 different things, but what are some of the things
00:24:12 --> 00:24:16 you enjoy doing outside of work? I think mostly
00:24:16 --> 00:24:20 spending time with my family and then, you know,
00:24:20 --> 00:24:22 I like to cook. I don't do it a lot, but when
00:24:22 --> 00:24:25 I get in there and I'm like, you know what? I
00:24:25 --> 00:24:28 enjoy this. I sing a little bit. I'm all over
00:24:28 --> 00:24:30 the place. I have a guitar behind me. I don't
00:24:30 --> 00:24:33 know if you can see it. Oh, nice. I can't play
00:24:33 --> 00:24:37 it, though. I keep trying. It's there for the
00:24:37 --> 00:24:41 decoration. I know basic chords, but no, that's
00:24:41 --> 00:24:44 another dream is to be able to play it. But,
00:24:44 --> 00:24:47 you know, so I dabble in so many different things.
00:24:48 --> 00:24:51 I'm like an adventurer in the way I'm a planned
00:24:51 --> 00:24:53 adventurer. I'm not just like a painless one,
00:24:53 --> 00:24:57 but I like to dabble and try new things. I love
00:24:57 --> 00:25:00 to travel. I'm all over the place. Oh, that's
00:25:00 --> 00:25:03 good. I mean, to me, And I like how you say planned
00:25:03 --> 00:25:06 adventurer because it shows the accountant in
00:25:06 --> 00:25:10 you. Yes, I want this, but as he makes sense,
00:25:10 --> 00:25:15 cost benefit analysis. Absolutely. Yes. That
00:25:15 --> 00:25:18 is awesome. And my last question for you, second
00:25:18 --> 00:25:21 to last question. What would you say is your
00:25:21 --> 00:25:25 favorite quote and why? My favorite quote is
00:25:25 --> 00:25:29 service to others is the rent that we pay for
00:25:29 --> 00:25:32 our room here on earth by Muhammad Ali. I feel
00:25:32 --> 00:25:35 like I've governed my life by that quote. It's
00:25:35 --> 00:25:38 like, you know, what are you doing to serve others?
00:25:38 --> 00:25:40 Because we're a community, right? Like, none
00:25:40 --> 00:25:43 of us are in silos. None of us were meant to
00:25:43 --> 00:25:47 be here alone and individual. So it's kind of
00:25:47 --> 00:25:49 like, what are you doing to give back? So, service
00:25:49 --> 00:25:52 tough. So in your service to others, what would
00:25:52 --> 00:25:54 you say are some advice you would give this upcoming
00:25:54 --> 00:25:57 generation of finance and accounting leaders?
00:25:57 --> 00:26:00 I think it's just to make yourself available.
00:26:00 --> 00:26:03 Don't allow yourself to get siloed, you know?
00:26:03 --> 00:26:06 So volunteer for different things. Like, volunteer
00:26:06 --> 00:26:08 for nonprofit organizations, government organizations,
00:26:08 --> 00:26:13 and just be out in the world and allow yourself
00:26:13 --> 00:26:16 the space to not feel like you have to be pigeonholed
00:26:16 --> 00:26:20 into one aspect of accounting or one aspect of
00:26:20 --> 00:26:23 life in general. Like, the world is so big. The
00:26:23 --> 00:26:27 field is so vast. Keep reaching and keep looking
00:26:27 --> 00:26:30 and don't allow people to put you in a box and
00:26:30 --> 00:26:34 don't... live in a box, you know, explore. Wow.
00:26:34 --> 00:26:38 And where can we all find your viral TikTok videos?
00:26:38 --> 00:26:41 Because I want to hear it, like, right now. Because
00:26:41 --> 00:26:43 not everybody will actually read the show notes.
00:26:44 --> 00:26:48 Yes. So I am online as Professor Underscore Nance
00:26:48 --> 00:26:52 on most platforms. So Instagram, TikTok. And
00:26:52 --> 00:26:55 then I also have a website that is under construction.
00:26:56 --> 00:26:59 ProfessorNance .com. So I'm trying to build that
00:26:59 --> 00:27:02 out, but yes. That's awesome. Thank you for sharing
00:27:02 --> 00:27:04 and thank you so much for being on the show.
00:27:05 --> 00:27:08 This was so, so good. Thank you. Thank you for
00:27:08 --> 00:27:12 having me. It's always great to see you. And
00:27:12 --> 00:27:14 that's it for today's episode of The Diary of
00:27:14 --> 00:27:17 a CFO. Thank you so much for tuning in. If you
00:27:17 --> 00:27:20 enjoyed the show, don't forget to like, review,
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00:27:42 --> 00:27:44 is any topic you would like me to cover in the
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00:27:52 --> 00:27:54 of a CFO .com. See you soon.
