Itâs not what you think, being a CPA.
Especially not for Cheryl Shuffield, at least not lately, considering that her carâs been hit by a pickup three times in the past year.
If I donât get hit by a truck, a lot of days I come to work with an agenda,â says Shuffield, a partner at Frost PLLC.
But even a normal day doesnât necessarily require an adding machine and green eyeshade. These days, Shuffieldâs career keeps her heavily involved in litigation matters, just the way she likes it. In fact, as a McGehee farm girl in the 1950s and â60s who felt initials behind her name would be a true mark of success, she preferred the letters J.D. to CPA. After obtaining her bachelorâs degree in history and philosophy at the University of Central Arkansas though, life led her toward public accounting. She obtained that degree from the University of Arkansas at Little Rock.
For someone who counted accounting as second-best, Shuffield sure rose to the top of her field. She started out at Frost in 1979 and became a partner in less than 10 years. (If youâre counting, leave the math up to Shuffield â” âIâm 59,â she offers.) Ready for a new challenge, Shuffield and partner Dennis Cooper left the firm in 1997 to form and grow their own, Cooper Shuffield & Co. She returned to Frost nine years later eager to expand her horizons, which she thought would be easier at the resource- and talent-laden Frost, Arkansasâ largest accounting firm.
Through it all, the core of her practice remained income and estate tax planning and compliance. But shortly before her homecoming, sheâd gotten interested in business valuation and became certified in that area. Director of the firmâs strategic client services, sheâs also certified in financial forensics and frequently finds herself in the legal realm, sometimes on the stand as a financial expert witness. Still, most of her time is spent consulting with clients â” mainly closely held businesses â” performing business valuations and planning estates for her business-owner clients. âI get to work with very intelligent clients and it feels good to be able to help them succeed in their businesses,â Shuffield says.
Itâs often after hours before she leaves her office in the Metropolitan Building and heads west toward home â” fortunately husband Elvin understands the demands of the profession, after having spent time in the field himselfâ” but somehow Shuffield finds time to volunteer.
Besides serving on the University of Arkansas Foundation Fund Board, Shuffield has been on the Winthrop P. Rockefeller Cancer Institute Foundation Fund Board since 2004 after client/dear friend Dr. Gene Joyce got her involved. That was before Shuffieldâs sister Kay passed away after being diagnosed with Stage 4 lung cancer. Shortly after joining the board, the institute began raising funds for a new building, and that, she says, has been the most exciting part of her involvement. After spending hours with her sister on the crowded 7th floor, where patients waited to see the doctor, the need for the expanded facilities was readily apparent, she says.
This year, Shuffield is also serving as chairman of the Gala for Life, the proceeds of which will help to fund the new construction as well as the instituteâs research and patient care operations. âI wish that everyone in Arkansas could tour the facility and talk to some of the scientists there because they are, I think, making a difference,â Shuffield says. In fact, the institute is known âround the world for multiple myeloma and breast cancer research.
Although fundraising expectations are slightly lower than in years past, Shuffield expects a sold-out crowd. âItâs a tough economy, but a lot of people have really stretched to make a financial commitment.â
Now thatâs some number-crunching a CPA can admire.