Transcript Slide 1
Accounting… Is It For You? Presented by: Author of Presentation What is Accounting? • A business language • A set of rules to record business transactions in a consistent manner • The basis of business operations • Constantly changing What Are CPAs? • • • • • CPAs are Leaders CPAs are Advisors CPAs are Educators CPAs are Managers CPAs are Respected People in your Community Professional Services vs. Private Industry • Professional Services Work for several different companies Provide audit, tax and consulting services Travel Top position is typically a partner in a firm • Private Industry Work for one company or organization Travel varies Top positions consist of Controllers, Chief Financial Officers and Presidents Professional Services • Large Professional Services Firms (“Big Four”) Deloitte & Touche Ernst & Young KPMG PricewaterhouseCoopers • Regional Professional Services Firms BDO USA Grant Thornton Baker Tilly • Career Path Audit, tax & business consulting Service lines within each Levels of advancement What Do “Private Industry” Include? • • • • • • • • Manufacturing Retail Insurance & Banking Healthcare Not-for-Profit Government & Schools Individuals Information Technology Topics of Discussion • • • • • • My personal CPA experience Unique occupations Traditional roles Growth opportunities Salary compensation Requirements Why Did I Choose Accounting? • • • • • • • • Very challenging People-oriented profession Highly respected profession Flexibility High demand for accountants Financial rewards Job satisfaction Desire to understand and resolve business issues My Personal Experience • • • • • Related jobs Fun Growth Challenges Why I am a CPA Career Options Pizza eating. Whale watching. Punk rocking. Whatever your interest, you can turn it into a career in accounting. • Entertainment: Have the itch to work in Hollywood? • Technology: If you live on the cutting edge • Sports: Behind every sports team, network and event are the accountants and CPAs making it happen. • Government: Seriously, what does our country do with all that money? • Nonprofit & Education: The world needs more do-gooding accountants and CPAs. • Criminal Investigation: Were you born to bust bad guys? • Environment: Even the business world has room for the eco-friendly. • Travel: Are your bags are always packed for your next destination? • Food & Fashion: Love to eat, shop and be merry? Careers in Government • • • • • • • Securities and Exchange Compliance FBI Government Auditing Country Tax Assessor Sales and Use Tax Parks and Recreation State and Local Government Technology Careers • • • • • • • Software Consulting E-Business Developing and Testing Systems Change Management Security of Systems Maintaining Accounting Systems Project Management Other Unique Careers • • • • • • • Entertainment Accounting International Accounting United Nations Accounting World Bank Accounting Risk Management Non-Profit (such as Red Cross) Education Traditional Roles • • • • • • • Auditing Accounting and Consulting for Business Tax Accounting, Preparation and Planning Financial Planning Payroll Tax Reporting Sales Tax Reporting Financial Reporting Growth Opportunities • CPAs become the leaders of their companies • Many become the CFOs and CEOs of large and small companies • They are trusted business advisors • Growth is possible to the top Average Salaries for College Graduates ** Keep in mind if you also have a CPA license, you’ll make 10-15% more when you start out. ** Employer Public Accounting (large firm) Public Accounting (medium firm) Public Accounting (small firm) Corporate Accounting (large co.) Corporate Accounting (medium co.) Corporate Accounting (small co.) Jr. Level (0 - 3 yrs.) Sr. Level (4 - 6 yrs.) $48,750-$69,250 $66,750-$86,000 $42,500-$62,500 $59,250-$79,750 $41,000-$56,000 $54,000-$69,750 $38,000-$57,250 $55,750-$73,500 $35,750-$53,250 $50,750-$65,500 $33,500-$49,000 $46,500-$58,750 Upper-level Salaries For Managers in Corporate Accounting Position Large Co. Small to Medium Co. Chief Financial Officer $183,250-$384,000 $94,250-$175,750 Corporate Controller $122,000-$180,000 $80,500-$134,750 Tax Manager $92,250-$130,250 $74,250-$100,250 **Geographic region, experience, education, CPA certification and company size each play a role in determining salary** CPAs are Needed EVERYWHERE! Here’s what you can expect to be paid where you live: Boston New York Miami Chicago Denver San Diego Dallas $55,250-$68,900 $59,925-$74,730 $48,025-$59,890 $52,275-$65,190 $43,560-$54,325 $49,725-$62,000 $44,625-$55,650 What Are the Requirements? • Pass the CPA exam CPA Exam Book • Complete Work experience/requirements • Continued Certified Professional Education We Look for People Who Are… • • • • • • • • Involved in activities Professional Good communication skills Personable Detail-oriented Strong academically Overall business awareness Leaders PICPA • A CPA license can open the door to unlimited career opportunities. PICPA provides resources for high school and college students, recent grads, and educators on a variety of accounting topics that will help you discover what your next step will be. • Resources & Tools Questions?