Transcript Slide 1

Connecticut Society of
Certified Public Accountants
Student Outreach
Become a CPA – and
discover a lifetime of
opportunity!
INTRODUCTIONS…
•Name, job title, where I work, hobbies,
etc.
•Where did I go to school?
•My office/business is… and looks like…
What Career is for me?
Some things to consider…
•What do you like to do?
•What are you good at?
•What skills do you have/enjoy using?
•How much is someone willing to pay you?
•What jobs/careers are in demand?
•Jobs vs. Careers
•Value of College Education
What is Accounting?
•A business language.
•The process of recording, classifying,
reporting and analyzing financial data &
business transactions -- KEEPING TRACK
OF THE MONEY
•The basis of business operations.
A CPA is……
A Certified Public Accountant (CPA) is a
financial professional.
CPA’s speak the “language of business.”
*They provide the advice and information others
need to make important financial business
decisions.
CPAs are in high demand as a valued member of
any Business team!
Why Did I Choose to Become a CPA?
•Challenging profession
•Enjoy talking and working with people
•Highly respected profession
•Flexibility & opportunity for growth
•High demand for accounting professionals
•Job satisfaction
•Earning potential/job security
•Helping others understand and
resolve business issues
My “typical” day….
•My clients and job responsibilities
•Hours, travel, dress
•My career ladder
•Challenges & fun stuff (Perks)
•What I enjoy most, least
•Personal experiences
CPA Careers
•Differences between CPAs and other
accounting positions (bookkeeper, etc.)
•CPA Exam/certification/licensing required
•Level of education required/CPE
•Starting wages
•Job responsibilities
•Opportunity for promotion/higher positions
CPAs work in…
PUBLIC PRACTICE
•Work with many different
companies/industries and provide
various services or specialized
niches
•Firms can be international and
very large in size (Big 4), mid-sized
(regional firms) or small and local
firms
•Top position is typically a partner
in a firm
Public Practice – Some Examples
Tax or Audit
Fraud/Forensics
Financial Planning
Environmental
Information
Technology
International
CPAs work in…
GOVERNMENT
•Local
•State
•Federal
•POSITIONS
•Auditor
•Staff Accountant
•Budget Analyst
•Financial Manager
Government – Some Examples
CPAs work in…
EDUCATION
•High School Teacher
•College/University Professor
–Dean or Administrator
•Conduct Research
CPAs work in…
PRIVATE INDUSTRY/CORPORATE
•Work for one company or organization
•POSITIONS
-Internal Auditing
-Financial and Management
Reporting
-Tax Planning
-Corporate Finance
-Strategic Planning or New
Product Development
•Top positions consist of controllers, chief
financial officers, managers, etc.
Industry – Some Examples
Industry – Some Examples
Industry – Some Examples
Requirements to
Become a CPA in CT
•Education: 150-hours of college credit.
*(Bachelor’s Degree/120 hrs to sit for exam)
•Pass the CPA Exam: the exam tests your level of
accounting knowledge.
•Experience: Two years of experience in accounting,
which may be in the fields of public practice,
government, and industry; work must be completed
under the supervision of a CPA in good standing.
•Ethics: “open-book” take home exam.
Skills Needed
to Be a CPA
Effective Communication
Comfortable with numbers
“People Person”
Computer Skills
Organizational, multi-tasking, and
time management skills
Problem solver
Ethics
Accounting Salaries
According to NACE’s 2008 Summer Salary Survey,
the average yearly salary offer from
accounting firms is $48,085!
On average, individuals with a CPA and/or advanced
degrees earn 10-15% more.
How much money
does a CPA earn?
In Public Accounting, accountants can earn:
(with 1 – 3 years experience)
• Small Firms - $45,750 - $56,000
• Large Firms - $56,500-$69,250
Senior staff such as managers &
directors can earn:
•Small firms - $83,000 - $111,250
•Medium Firms - $91,000 - $135,750
•Large Firms - $101,750 - $159,500
Partner Level - $150,000 - $200,000+
How much money
does a CPA earn?
In Industry, accountants can earn:
(with 1 – 3 years experience)
•Small companies - $37,750 - $49,000
•Large companies - $44,500 - $60,000
•Auditors (Internal, IT)
•Small companies - $41,750 - $65,000
•Large Companies – $50,500 - $75,000
•Management
•(Treasurers, Directors, Controllers, CEOs, CFOs
VPs, etc.) – $66,000 - $384,000
How much money
does a CPA earn?
In Government, accountants can earn:
•Federal/State - $35,673 - $36,223 (entry level)
MS or 2 years of professional experience approximately $43,731
Supervisory and managerial positions averaged $78,665
Auditors averaged $83,322
In Education, CPAs can earn:
(Accounting faculty at accredited colleges)
•Assistant Professor - $93,500 (mean salary)
•Associate Professor - $94,100 (mean salary)
•Full Professor - $114,000 (mean salary)
*Higher for doctorate degreed professor
(Source: Robert Half 2009
Salary Guide, www.bls.gov)
Accounting Degree =
Landing a Job!
•Employment of accountants and auditors is
expected to grow by 18 % between 2006 and
2016, which is faster than the average for all
occupations.
•Internships (usually paid!) offer great
experience and perhaps, a job offer!!
(U.S. Dept. of Labor - BLS)
Benefits of an
Accounting Degree
•Job diversity
•Occupational mobility
•Flexibility
•Learning portable skills
•High earning potential
•UNLIMITED OPPORTUNITIES!!!!
WWW.CSCPA.ORG/STUDENTS
THANK
YOU!!!!