Connecticut Society of Certified Public Accountants Student Outreach

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Connecticut Society of Certified Public
Accountants Student Outreach
Become a CPA and discover a lifetime of
opportunity!
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INTRODUCTIONS

• Name, job title, where I work, hobbies, etc.
• Where did I go to school?
• My office/business is and looks like

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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

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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.

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A CPA is
A Certified Public Accountant (CPA) is a
financial professional. CPAs 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!
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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

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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

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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

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PUBLIC PRACTICE
CPAs work in

• 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

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Public Practice Some Examples
Information Technology
Tax or Audit
Financial Planning
International
Environmental
Fraud/Forensics
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CPAs work in
GOVERNMENT

• Local
• State
• Federal
• POSITIONS
• Auditor
• Staff Accountant
• Budget Analyst
• Financial Manager

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Government Some Examples
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CPAs work in
EDUCATION

• High School Teacher
• College/University Professor
• Dean or Administrator
• Conduct Research

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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.

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Industry Some Examples
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Industry Some Examples
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Industry Some Examples
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Requirements to Become a CPA in CT

• Education 150-hours of college credit.
• (Bachelors Degree/120 hrs to sit for exam)
• Pass the CPA Exam the exam tests your level of
• accounting knowledge.
• Experience 2 years of working in public
  accounting.
• Ethics open-book take home exam.

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Skills Needed to Be a CPA
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Effective Communication
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Comfortable with numbers
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People Person
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Computer Skills
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Organizational, multi-tasking, and time
management skills
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Problem solver
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Ethics
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Accounting Salaries
According to NACEs 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.
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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
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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

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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)
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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)

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Benefits of an Accounting Degree

• Job diversity
• Occupational mobility
• Flexibility
• Learning portable skills
• High earning potential
• UNLIMITED OPPORTUNITIES!!!!

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WWW.CSCPA.ORG/STUDENTS
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THANK YOU!!!!