Paul MacDonald, CFO of the Detroit Red Wings

For the past 15 years, CPA Paul MacDonald has been an integral part of one of the most respected sports franchises in history. As the Vice President of Finance for the Detroit Red Wings, his guidance has been essential to the great success of the team over the years. Paul also currently serves on the Michigan Association of CPAs Board of Directors. He began his accounting career in 1981 when he earned his CPA license. He not only gets to wear an NHL championship ring, Paul has the respected distinction of being the first CPA to have his name engraved on the Stanley Cup.

What made you decide to go into the accounting profession?
During high school, I took some accounting and business classes and did well in them. I found them to be most suitable for me. I also did a lot of manual labor during school, and decided that I did not want to do that type of work all my life, so merging those realizations brought me to the accounting profession.

As an integral part of one of the most respected sports franchises in history, can you name a specific experience(s) most memorable to you?
Obviously, our Detroit Red Wings winning the Stanley Cup was a great accomplishment for the entire organization. I am fortunate enough to have been around for three championships. They were all truly great.

Describe how you have made a difference by being a CPA.
Because the profession engages areas some people find difficult, or even scary, it is imperative to have professionals that can perform the necessary tasks, such as audits, taxes and internal financial work. Personally, I take ethics very seriously, and hope that I impose those values in fellow colleagues.

Explain any obstacles you had to overcome to get to where you are today.
I have worked in public accounting as well as industry, and had to work through some “Automotive Supplier Challenges” during the tough recessionary times of the late 1980s – early 1990s.

Name a major professional accomplishment.
It was earning respect and confidence of ownership, as well as being promoted to a position that shares in the management of one of their companies.

What interests or activities are you involved in outside of work?

• Board of Directors, Ilitch Charities for Children
• Board of Directors, Michigan Association of Certified Public Accountants - almost 17,000 members
• Actively involved with the MACPA High School Leaders Conferences (to entice high school kids to join the profession)
• Member of Michigan Chapter of Institute of Management Accountants
• Treasurer of our homeowners association – 629 members
• American Red Cross Pheresis Donor (monthly donor of platelets, plasma, whole blood cells)
• Multitude of activities that my three girls are involved in.
• Play hockey 2 – 4 times per week, depending on the time of year.
• Occasional involvement with, and donations to, Navy personnel.

Are there any other interesting things about yourself or your career that you would like to share with other members, potential members and students?
I was chosen by ownership to be one of a select group to have their name engraved on the Stanley Cup. I am honored to say that my name is the first CPA to be included on the Cup.

What is your most meaningful volunteer experience?
I would say either the Pheresis donor program because I know it is helping those in need; or the MACPA High School Leaders Conferences, because I enjoy assisting students make a very difficult choice.

How do you balance your personal and professional life?
It starts with a very understanding and supportive family. Also, with the ability to be “connected” at home. I can come home and help the kids with homework, etc., and once they are in bed, I can do some additional work on my laptop. In addition, having been doing this type of work for over 14 years, I can anticipate a lot of the upcoming project requirements, and try to be prepared well in advance.

What advice would you have for those considering entering the CPA profession?
Don’t be afraid to pay your dues! Get involved in as many things as you can, such as different jobs, school clubs and volunteer work. The more you experience, the better prepared you will be for any profession.

What do CPAs need now to be successful in the future?
I like to answer this by saying “strong morals and good ethical behavior” as my core answer. Also very important is the ability to know and comprehend how to use all the information technology that exists – hardware and software alike.

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