ODU CNU 3.17.11


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VSCPA presentation for college accounting students.

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  • Business runs on relationships. Cultivating and maintaining the right relationships, therefore, are essential for enhanced career opportunities and practice growth. To build these relationships, the CPA needs to be skilled at meeting people and making them feel comfortable, and in getting people to have confidence in his or her abilities. Building a strong network of relationships is a career-long endeavor that requires strategies and skills. Both are important. It is simply not enough to have a strategy for developing business relationships if you don't have the skills to implement your plan effectively. Practitioners who have established a network of relationships might consider mentoring staff members in relationship-building techniques. This will help them throughout their careers because the people a CPA needs to know and be able to call upon vary according to the stage of a person's career and the disciplines, industries, and niches in which the individual specializes or has a keen interest. The relationship-building strategies of staff accountants are also influenced by the size of the firm where they work and the number of its partners or shareholders.
  • You never know when a relationship will become an important one This isn’t about being fake or phony. Don’t burn bridges! Start young – the people you know now will be the decision-makers of the future
  • Visibility Staff accountants in larger firms shouldn't assume that the people who have influence over the direction of their career and promotion opportunities know much about them. Staff accountants need to become visible in the firm and will benefit from having a mentor strategize their career and business goals. The mentor should be someone who will help them focus on people they need to know at that stage of their careers and teach them how to market and sell themselves within the firm. Visibility within client organizations is important to relationship building and client retention. Staff accountants can achieve some visibility by interacting with comparable-level client employees . As people progress in their careers, the aim should be to establish comfortable working relationships with the client's financial officers and, ultimately, the president of the organization . The more contact members of your firm have with client personnel and the more favorably they are viewed, the more likely it is they can build strong, long-lasting relationships. A surprising number of business and career development opportunities come from being active in the accounting profession on a local, state, and national level . Volunteers can demonstrate their leadership, team-building, and public speaking skills, and their ability to run effective meetings (and so on) while being observed by others in a fairly risk-free environment. In addition, professional involvement often results in contact with other CPAs who specialize in areas that you don't-areas that could be of value to your clients . Of course, if you do specialize in certain industries, or wish to, make sure you are active in affiliated trade associations and that you know the key players at the local, state, and national levels. You also want to be a known resource for the media that cover those industries. CPAs in the early stages of their careers shouldn't overlook building long-term relationships by engaging in appropriate civic and community activities. As their careers progress, the focus of relationship-building activities should sharpen to include participation in organizations where targeted contacts are active. The value of networking lies in the opportunities it presents to showcase your talents and build organizational, industry, professional, and personal relationships that may, at some future time, help you meet work-related goals. The quality of these resources and contacts can directly affect your value in the marketplace. Knowing versus doing Having knowledge of a matter is one thing. Being able to apply that knowledge is something else. Knowing the value of building and nurturing long-term business relationships is one thing. Devoting the time and developing the skills to become comfortable and self-assured while networking is where most of us stumble. It doesn't have to be difficult, but to be part of a business and career strategy , it needs to be planned. Planning means that when you go to an association meeting or industry function, you make a point of sitting with and getting to know new people. It means that when your firm holds an informational seminar for clients, potential clients, and referral sources, every effort is made to welcome, establish rapport with, and follow-up with each individual attending. It means using your business card as it is meant to be used-as a physical reminder of you, part of your marketing effort.
  • The interpersonal skills involved People prefer to do business with people they like and trust. But what is it that makes us like some people and not others? How do we sense when a person is honest and trustworthy? There are certain characteristics often associated with people we think would make attractive business partners. Typically, such people - ---Possess strong character traits. They are clear as to their values and beliefs, and there is consistency between what they value and how they behave. These traits are clear to others, as well. ---Take personal responsibility for their attitudes and actions. They are focused on personal accountability for the outcome of their behavior. ---Set and pursue goals. Their focus on personal effectiveness, coupled with a clear understanding of the desired outcome, results in better time management and effective delegation. ---Practice self-discipline. The ability to stay focused is the foundation of this trait. Self-discipline is integral to consistency in behavior and action based on values and goals. ---Embrace high standards rather than perfection. High standards enable people to perform at their best, rather than their being frustrated at not attaining the impossible. This characteristic translates into having realistic expectations of others. ---Have a sense of fairness. They are consistent when applying rules and policies, and keep human dignity in mind. People with a developed sense of fairness look first to themselves before blaming others. ---Are effective communicators. Communication skills rank second only to job knowledge as important factors in a business person's success. The ability to listen and express oneself well are essential to influencing, persuading, and directing others. ---Appreciate and value others. They have the ability bring different perspectives together in the spirit of mutual respect. They value the uniqueness of every individual. --- Exhibit considerable social skills An understanding of the rules of etiquette contributes to their feeling comfortable and confident in different settings. Tact and diplomacy allow them to put others at ease, while making them feel valued and important. ---Believe in potential and growth. With a strong belief in their own potential, they actively encourage others to achieve their best. They realize the positive influence this will have on subordinates' performance and career progress. ---See relationships as interdependent versus independent. They have the ability to cooperate with others and elicit cooperation from others. Seeking mutual benefit is one of their strong attributes. ---Stimulate action. People who have this skill are able to have an impact on others and can influence or move them to action. They are able to get employees to buy into a vision or goal and persuade clients to buy more services. You might want to compare your relationship-building skills with the above characteristics of an attractive business partner. The described traits show what it takes to build and nurture strong business relations with clients, colleagues, and associates. Plant now, harvest later One principle with which we are all familiar is that you must sow in order to reap. It makes no sense to go out into your garden to pick tomatoes, for example, if you never planted any. In our wishful thinking, we would like opportunity, in the form of new business, to simply present itself. And yet we know better. In order to obtain new business, we must do something. That something is to cultivate a strong network of personal and professional relationships throughout our careers.
  • Here are some basic facts about the VSCPA
  • Visit Find a CPA and select “Internship opportunities” from the “Services offered” menu.
  • Nomination deadline tomorrow, but will extend it to March 23! Nominations criteria: The nominated student should be a full-time student at an accredited college or university in Virginia with the intent to (or with an existing) major in accounting. The nominated student should have demonstrated leadership potential. The student must have completed 60–120 credit hours and be enrolled in the 2011–2012 academic year for at least one semester. The nominating educator should be teaching (or have taught) the nominated student. The student should not have attended previous Leaders’ Institute programs. The student should maintain a 3.0 GPA (preferred). If less than 3.0., the nominating educator must provide a short explanation justifying the nomination.
  • Scholarships range from $1,000 to $3,000! Changes next year: Going online – no more paper applications Deadline moving to April 1 2011 scholarship recipients from ODU Alyssa Pietrobono – 2500 goodman Cambria Garman – 2500 WEC
  • Other online resources: Podcasts – steph’s on emerging issues & what’s going on at VSCPA, CPACafe Blog Social media Networking!
  • Events, professional issues and more!
  • Check this section often for updates Dedicated section at www.vscpa.com Live young professional and local chapter events Virtual new member orientation March 24, 2011 CPA Day of Service
  • Dedicated section at www.vscpa.com Live young professional and local chapter events Virtual new member orientation March 24, 2011; 12:30 – 1:30 p.m.
  • Resources: CPA Exam Find an internship CPA Connection Scholarships Leaders Institute Post resume on Career Center
  • National Association of CPAs This Way to CPA – launched last fall – great resource Sections include: CPA Exam & state requirements – study tips CPA profession – CPA profiles that highlight the diversity of career choices for CPAs Career tools – resume and interviewing tips Communities Scholarships – AICPA and other organizations And much more
  • ODU CNU 3.17.11

    1. 1. <ul><li>Stephanie Peters | President & CEO </li></ul><ul><li>Molly Wash | Development & Academic Relations Director </li></ul>The VSCPA & Building Professional Relationships
    2. 2. Why are we here? <ul><li>Talk about professional relationship building and its value to your career </li></ul><ul><li>Understand how the VSCPA is the place where you can build relationships with peers & professionals, find answers, develop your skills, become a leader, and give back to society. </li></ul><ul><li>The VSCPA is your home no matter where life takes you. </li></ul>
    3. 3. Professional Relationships <ul><li>Why is relationship building important? </li></ul>
    4. 4. Relationship Building for CPAs <ul><li>Business runs on relationships </li></ul><ul><li>Maintaining the right relationships is essential for career opportunities, practice growth and success at your job </li></ul><ul><li>CPAs must be skilled at: </li></ul><ul><ul><ul><li>Meeting people </li></ul></ul></ul><ul><ul><ul><li>Making others feel comfortable </li></ul></ul></ul><ul><ul><ul><li>Creating confidence in their abilities </li></ul></ul></ul>
    5. 5. Relationship Building for CPAs <ul><li>Who is it important to have good business relationships with? </li></ul>
    6. 6. <ul><li>Everyone! </li></ul>
    7. 7. Relationship Building for CPAs <ul><li>How do you build new relationships? </li></ul>
    8. 8. Relationship Building for CPAs <ul><li>Professional relationship building strategy: </li></ul><ul><li>Visibility </li></ul><ul><li>Knowing vs. doing </li></ul><ul><li>Strong interpersonal skills </li></ul><ul><li>Plant now harvest later </li></ul><ul><li>by Randi Marie Freidig, The Freidig Group </li></ul>
    9. 9. Strong interpersonal Skills <ul><li>Possess strong character traits. </li></ul><ul><li>Take personal responsibility for their attitudes and actions. </li></ul><ul><li>Set and pursue goals. </li></ul><ul><li>Practice self-discipline. </li></ul><ul><li>Embrace high standards rather than perfection. </li></ul><ul><li>Have a sense of fairness. </li></ul><ul><li>Are effective communicators </li></ul><ul><li>Appreciate and value others. </li></ul><ul><li>Exhibit considerable social skills </li></ul><ul><li>Believe in potential and growth. </li></ul><ul><li>See relationships as interdependent versus independent </li></ul><ul><li>Stimulate action. </li></ul>
    10. 10. What’s the VSCPA? <ul><li>The VSCPA is a voluntary professional association for certified public accountants (CPAs) </li></ul><ul><li>State-based organization of individual members </li></ul><ul><li>501(c)6 not-for-profit that can lobby </li></ul><ul><li>Advocate on behalf of our members, although we also have self-regulation programs to ensure high standards of quality and behavior among members </li></ul><ul><li>Separate and independent of the Virginia Board of Accountancy, the state government agency that regulates CPAs </li></ul>
    11. 11. What Does the VSCPA do? <ul><li>VSCPA Mission: To enhance the success of all CPAs through: </li></ul><ul><ul><li>Advocacy and alliances </li></ul></ul><ul><ul><li>Communication and education </li></ul></ul><ul><ul><li>Self-regulation of the profession </li></ul></ul><ul><ul><li>Public outreach and student recruitment </li></ul></ul>
    12. 12. Why do Members Join? <ul><li>The VSCPA is a voluntary membership organization, so why join? </li></ul><ul><li>Support the profession and its activities </li></ul><ul><li>Participate in volunteer activities and gain leadership experience </li></ul><ul><li>Have a voice in the direction of the organization </li></ul><ul><li>Increase client and employer credibility </li></ul><ul><li>Network for jobs, staff, mergers/acquisitions, client referrals </li></ul><ul><li>Keep informed on professional news affecting their license and job </li></ul>
    13. 13. Student Benefits and Resources <ul><li>Student membership </li></ul><ul><ul><li>Cost is FREE! </li></ul></ul><ul><ul><li>College or university student </li></ul></ul><ul><ul><li>Deep discounts on Exam preparation courses </li></ul></ul><ul><ul><li>Free subscriptions to Disclosures magazine, Footnote e-newsletter and eDisclosures e-newsletter </li></ul></ul><ul><ul><li>Unlimited access to members only sections of website, including Career Center and Internship Directory </li></ul></ul><ul><ul><li>Meet, interact and volunteer with CPAs </li></ul></ul><ul><ul><ul><li>CPA Day of Service – September 23, 2011 </li></ul></ul></ul>
    14. 14. CPA Connection <ul><ul><li>Mentoring program </li></ul></ul><ul><ul><li>Connects college students with CPAs to answer questions on professional issues and give career advice </li></ul></ul><ul><ul><li>Communicate via e-mail, telephone and face-to-face </li></ul></ul><ul><ul><li>Sign up online at www.vscpa.com </li></ul></ul>
    15. 15. VSCPA Leaders’ Institute <ul><li>Partnership between Baker Tilly and the VSCPA </li></ul><ul><li>Career, leadership, and professional training </li></ul><ul><li>June 24-26, 2011 at Virginia Tech </li></ul><ul><li>June 22-24, 2012 at Virginia Tech </li></ul>
    16. 16. Scholarships <ul><li>VSCPA Scholarships </li></ul><ul><ul><li>The VSCPA Education Foundation awarded nearly $35,000 in scholarships this year to undergraduate, minority undergraduate and graduate accounting students </li></ul></ul><ul><ul><li>Applications will be available online this fall! </li></ul></ul><ul><ul><li>Deadline to apply is April1, 2012 </li></ul></ul>
    17. 17. Online Resources <ul><li>Podcasts </li></ul><ul><ul><li>Weekly Federal Taxation Update </li></ul></ul><ul><ul><li>Monthly VSCPA CEO Updates </li></ul></ul><ul><li>VSCPA blog: www.CPACafé.com </li></ul><ul><li>Social networking groups on LinkedIn, Facebook, Twitter </li></ul><ul><li>Networking and more! </li></ul>
    18. 18. Title <ul><li>Content </li></ul><ul><li>Bullet </li></ul>
    19. 19. Website/Online Resources
    20. 20. Title <ul><li>Content </li></ul><ul><li>Bullet </li></ul>
    21. 21. Networking Opportunities <ul><li>Networking opportunities with CPAs! </li></ul><ul><li>Dedicated section at www.vscpa.com </li></ul><ul><ul><li>Live young professional and local chapter events </li></ul></ul><ul><ul><li>Virtual new member orientation </li></ul></ul><ul><ul><ul><li>March 24, 2011 </li></ul></ul></ul>
    22. 22. Title <ul><li>Content </li></ul><ul><li>Bullet </li></ul>
    23. 23. VSCPA Materials & Resources <ul><li>“ For Students” Section </li></ul><ul><li>www.vscpa.com </li></ul><ul><li>Information on: </li></ul><ul><ul><ul><li>VSCPA membership </li></ul></ul></ul><ul><ul><ul><li>CPA Exam </li></ul></ul></ul><ul><ul><ul><li>Internships </li></ul></ul></ul><ul><ul><ul><li>CPA Connection </li></ul></ul></ul><ul><ul><ul><li>Scholarships </li></ul></ul></ul><ul><ul><ul><li>Leaders’ Institute </li></ul></ul></ul><ul><ul><ul><li>And more! </li></ul></ul></ul>
    24. 24. Title <ul><li>Content </li></ul><ul><li>Bullet </li></ul>
    25. 25. AICPA Materials & Resources <ul><li>American Institute of CPAs (AICPA) </li></ul><ul><li>FREE student membership! </li></ul><ul><li>This Way to CPA - www.thiswaytocpa.com </li></ul><ul><ul><li>Sections include: </li></ul></ul><ul><ul><ul><li>CPA Exam & state requirements </li></ul></ul></ul><ul><ul><ul><li>CPA profession </li></ul></ul></ul><ul><ul><ul><li>Career tools </li></ul></ul></ul><ul><ul><ul><li>Communities </li></ul></ul></ul><ul><ul><ul><li>And much more! </li></ul></ul></ul>
    26. 26. AICPA Materials & Resources <ul><li>Content </li></ul><ul><li>Bullet </li></ul>
    27. 27. CPA Exam Update <ul><li>Now in effect: 120 hours required to sit for Exam </li></ul><ul><li>Requirement to obtain CPA license in Virginia will remain at 150 hours </li></ul><ul><li>CPA Exam Requirements brochure </li></ul><ul><li>www.cpa-exam.org </li></ul><ul><li>www.boa.virginia.gov </li></ul>
    28. 28. CPA Exam Resources <ul><li>Content </li></ul><ul><li>Bullet </li></ul>
    29. 29. CPA Exam Resources <ul><li>Content </li></ul><ul><li>Bullet </li></ul>
    30. 30. Exam Candidate Membership <ul><li>Must have completed a bachelor's degree within the last five years </li></ul><ul><li>Must be pursuing a CPA license </li></ul><ul><li>$45 annual dues </li></ul><ul><li>Participate in VSCPA activities and grow in your career </li></ul>
    31. 31. For more information . . . <ul><li>Stephanie Peters </li></ul><ul><li>President & CEO </li></ul><ul><li>Virginia Society of CPAs </li></ul><ul><li>4309 Cox Road </li></ul><ul><li>Glen Allen, VA 23060 </li></ul><ul><li>p (804) 270-5344 </li></ul><ul><li>[email_address] </li></ul><ul><li>www.vscpa.com </li></ul>Molly Wash Academic and Development Director Virginia Society of CPAs 4309 Cox Road Glen Allen, VA 23060 p (804) 270-5344 [email_address] www.vscpa.com