BECOMING ACertifiedPublicAccountant
WHAT ARE THE STEREOTYPES OFACCOUNTANTS?1.   Shredding is their #1 hobby!2.   Pocket protectors are a fashion     accessory...
MYTHS VERSUS REALITYMyth:     It is all about math!Reality: It is all about…   Strategic and critical thinking   Probl...
GOT RESPECT?   No credential in the business world earns as much    respect as the CPA – it is a prestigious credential....
WHAT IS ACCOUNTING?   A profession   A business language   A set of rules to record business    transactions in a consi...
JOB OPPORTUNITIES  Public accounting  firm  Sole practitioner  Corporate  Not-for-profit  Government  Education
CAREER VARIETY              Law enforcement              CFO              Personal business               manager      ...
CAREER VARIETY             Treasurer               Information technology               Management consulting          ...
CAREER VARIETY          Environmental compliance            Strategic resource manager            Tax interpretation/pr...
CAREER VARIETY            ElderCare adviser              International business              Estate planning           ...
GO YOU! You’ll play a vital business role as an individual  team member who contributed to the overall  success of the en...
PUBLIC ACCOUNTING VERSUS PRIVATEINDUSTRY   Public Accounting        Work for several different companies        Provide...
SERVICES PROVIDED BY PUBLICACCOUNTING FIRMS   Assurance Services and Information Integrity        Audit Services       ...
PRIVATE INDUSTRY Industries                 Job Types  Manufacturing             Cost accounting  Retail               ...
WHICH PATH TO CHOOSE?Public Accounting                     Private Accounting  Pros                                Pros  ...
SKILLS YOU’LL NEED  Critical thinking  Technology savvy  Business sense  Problem solving  Ability to  communicate  cl...
SKILLS YOU’LL NEED  Abilityto work alone   or as part of a team  Client-oriented  Strong    ethics  Adaptable
THE FUSS IN THE NEWS. . .Company                        Error in revenue reportedAdelphia Communications        $ 3.1 bill...
WHAT DOES IT MEAN FOR THEACCOUNTING PROFESSION?        Sarbanes-Oxley Act (signed into law on July 30, 2002)     Sweeping...
SALARY POTENTIAL   $35K–$50K     beginning    $55K + with CPA    license   $150K + top    positions
SALARY COMPARISON IN THE PUBLIC SECTOR:                              Range   La rge Firms   Manager/Director    $98,750   ...
SALARY COMPARISON IN THE PRIVATE SECTOR:Position                         Large Co.            Small to Med. Co.Chief Finan...
THE SPRINGBOARD EFFECT AICPA  has 43,000 members who are CEOs,  CFOs or COOs Phil Knight, CPA, founder of Nike The FBI ...
HAND PICK YOUR CAREER DIRECTION CPAs are in high demand. Virtually limitless range of choices. Demand from Hollywood to...
WHAT DO FIRMS LOOK FOR INRECRUITS?    Strong academically    Solid technical accounting knowledge    GPA is not the onl...
WHAT YOU CAN DO NOW AND INCOLLEGE    Be proactive!!!    Talk to accountants or people working in     occupations you are...
LICENSING PATHWAY    A college degree    120/150 hours of college credit    36 semester hours in business-     related ...
WANT TO KNOW MORE? Read Start Here magazine   www.startheregoplaces.com www.scacpa.org Check    out the CPA    Associa...
SCACPA 2012MEMBERSHIP UPDATE &ORIENTATION
ABOUT SCACPA State affiliate of AICPA Founded in 1915 Governed by a 20 member voluntary  Board of Directors Eight loca...
OUR MISSION Themission of the South Carolina Association of CPAs is to support all CPAs – whether in public practice, ind...
WIIFM: WHAT’S IN IT FOR ME?   Tools, Information and Resources   Customized, friendly member service from our profession...
MEMBERSHIP BENEFITS FOR STUDENTS(FOR ONLY $20 PER YEAR!)   Enhance your resume   Establish and build valuable relationsh...
SCACPA SCHOLARSHIP PROGRAMS SCACPA    offered its first scholarship in 1965.  An annual program was established in  1984....
GET INVOLVED AND MAXIMIZE YOURINVESTMENT   Apply for a scholarship   Read The CPA Report, Current Assets   Volunteer fo...
AMERICAN INSTITUTE OF CPAS Since 1887, AICPA has been providing members  with resources, training, programs and publicati...
RESOURCES FOR STUDENTS ANDCPA CANDIDATES scacpa.org aicpa.org startheregoplaces.com llr.state.sc.us Many others!
REACH YOUR PROFESSIONAL STAFF   Continuing Professional Education (CPE) & Chapters    April Cox, ext. 110, acox@scacpa.or...
Upcoming SlideShare
Loading in …5
×

Accounting Careers & Student Membership Orientation

2,371 views

Published on

Accounting Careers & Student Membership Orientation

Published in: Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
2,371
On SlideShare
0
From Embeds
0
Number of Embeds
746
Actions
Shares
0
Downloads
25
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Accounting Careers & Student Membership Orientation

  1. 1. BECOMING ACertifiedPublicAccountant
  2. 2. WHAT ARE THE STEREOTYPES OFACCOUNTANTS?1. Shredding is their #1 hobby!2. Pocket protectors are a fashion accessory.3. They carry laptops because they think it makes them look cool.4. They get psyched for business casual day.5. Boring.
  3. 3. MYTHS VERSUS REALITYMyth: It is all about math!Reality: It is all about…  Strategic and critical thinking  Problem solving and decision making  Effective use of technology  Good communication  Strong leadership and team building  Attention to detail  Analyze business situations  Develop creative solutions  Maintain objectivity  Often have the vision to realize untapped financial potential
  4. 4. GOT RESPECT? No credential in the business world earns as much respect as the CPA – it is a prestigious credential. CPAs meet the rigorous demands of certifications to take on the challenge of solving key business puzzles. Having CPA attached to your name instantly gives you expert status and respect. CPAs are always in demand, in good times and bad – recession “proof” or “bubble.” CPAs are trusted, reliable employees or consultants integral and essential to the business world. Integrity is built into the profession, whether as an auditor, financial advisor or tax consultant.
  5. 5. WHAT IS ACCOUNTING? A profession A business language A set of rules to record business transactions in a consistent manner The basis of business operations Constantly changing
  6. 6. JOB OPPORTUNITIES  Public accounting firm  Sole practitioner  Corporate  Not-for-profit  Government  Education
  7. 7. CAREER VARIETY  Law enforcement  CFO  Personal business manager  Auditor
  8. 8. CAREER VARIETY  Treasurer  Information technology  Management consulting  Banking
  9. 9. CAREER VARIETY  Environmental compliance  Strategic resource manager  Tax interpretation/preparation  Forensics
  10. 10. CAREER VARIETY  ElderCare adviser  International business  Estate planning  Litigation consulting
  11. 11. GO YOU! You’ll play a vital business role as an individual team member who contributed to the overall success of the enterprise. The impact of your analysis and insight add to your value. Promotion and advancement in nearly inevitable for CPAs. Intellectually and financially rewarding.
  12. 12. PUBLIC ACCOUNTING VERSUS PRIVATEINDUSTRY Public Accounting  Work for several different companies  Provide a variety of services  Top position is typically a partner in a firm  Travel Private Industry  Work for one company or organization  Travel varies  Top positions consist of Controllers, Chief Financial Officers, Presidents of company
  13. 13. SERVICES PROVIDED BY PUBLICACCOUNTING FIRMS Assurance Services and Information Integrity  Audit Services  WebTrust  SysTrust  Performance View  ElderCare Technology Services Management Consulting and Performance Management  Forensic Accounting  Valuation Services Financial Planning and Tax Services International Services
  14. 14. PRIVATE INDUSTRY Industries Job Types  Manufacturing  Cost accounting  Retail  Internal audit  Insurance & banking  Financial/corporate  Healthcare accounting  Not for profit  Tax  Government/schools  Bookkeeping  Individuals  Information technology  Information technology  Sarbanes-Oxley compliance
  15. 15. WHICH PATH TO CHOOSE?Public Accounting Private Accounting Pros Pros  More emphasis on training • Less travel  Develop broader range of skills • Specific industry focus  More marketable  Easier to obtain CPA license • May have shorter hours  More responsibility • Concentrated skill development  Access to top levels of management Cons Cons  More travel • Narrower range of skills  Longer hours • Slower progression up the  High turnover corporate ladder  Many extras – recruiting, practice development
  16. 16. SKILLS YOU’LL NEED  Critical thinking  Technology savvy  Business sense  Problem solving  Ability to communicate clearly and concisely
  17. 17. SKILLS YOU’LL NEED  Abilityto work alone or as part of a team  Client-oriented  Strong ethics  Adaptable
  18. 18. THE FUSS IN THE NEWS. . .Company Error in revenue reportedAdelphia Communications $ 3.1 billionAOL Time Warner $ 49 millionBristol-Myers Squibb $ 1.5 billionDuke Energy $ 150+ millionEnron $ 1 billionMerck $ 12.4 billionWorldCom $ 3.8 billionXerox $ 15 billionIn South Carolina: HomeGold and CarolinaInvestors: $275 million bankruptcy in 2003,affecting 8,000 investors – the largest in SC
  19. 19. WHAT DOES IT MEAN FOR THEACCOUNTING PROFESSION? Sarbanes-Oxley Act (signed into law on July 30, 2002)  Sweeping legislative changes – Corporate and accounting reform – Requires improved financial disclosure – Enhanced penalties for securities fraud – Largest business reform legislation since the Great Depression!  What does the act do: – Requires management to be more involved in financial processes – Increases demands on internal accounting functions – Increase the demands on external auditors – Requires Board members to be more financially competent  What does that mean for your future in accounting…OPPORTUNITIES! Following the much-publicized scandals of the early 21st century, the accounting profession has been instrumental in ushering a new age of corporate trust and responsibility. Sarbanes-Oxley Act has led to CPAs becoming more valuable and more highly regarded than ever before.
  20. 20. SALARY POTENTIAL $35K–$50K beginning $55K + with CPA license $150K + top positions
  21. 21. SALARY COMPARISON IN THE PUBLIC SECTOR: Range La rge Firms Manager/Director $98,750 - $151,500 Manager $80,000 - $106,250 Senior $64,000 - $83,000 1 to 3 Years $54,500 - $66,250 Up to 1 Year $47,500 - $57,500 Me dium Firms Manager/Director $88,250 - $129,250 Manager $74,250 - $93,500 Senior $57,500 - $76,250 1 to 3 Years $48,750 - $59,500 Up to 1 Year $41,500 - $51,000 Sma ll Firms Manager/Director $80,750 - $105,500 Manager $66,500 - $82,000 Senior $52,000 - $66,500 1 to 3 Years $44,750 - $53,250 Up to 1 Year $40,000 - $47,250 Source: Robert Half 2008 Salary Guide
  22. 22. SALARY COMPARISON IN THE PRIVATE SECTOR:Position Large Co. Small to Med. Co.Chief Financial Officer $177,750–$370,500 $91,000–$170,250Corporate Controller $102,500–$161,500 $64,250–$117,000Assistant Controller $86,500-$126,750 $52,000-$90,750Tax Manager $88,500–$123,750 $71,500–$95,250Bookkeeper $31,000-$50,500 $31,000-$50,500Accounting & Payroll $29,000-$37,500 $26,500-$36,750Clerk (Geographic region, experience, education, CPA certification, andcompany size each play a role in determining salary.)
  23. 23. THE SPRINGBOARD EFFECT AICPA has 43,000 members who are CEOs, CFOs or COOs Phil Knight, CPA, founder of Nike The FBI employs 1,700 CPAs, including number #2 Thomas Pickard, CPA Arthur Blank, co-founder of Home Depot and owner of the Atlanta Falcons is a CPA Becoming a CPA is one of the best ways to enter and prepare for any possibility in the world of business
  24. 24. HAND PICK YOUR CAREER DIRECTION CPAs are in high demand. Virtually limitless range of choices. Demand from Hollywood to Main Street. CPAs play key roles on nearly all professions and industries.HAVE CPA, WILL TRAVEL! As a CPA, you can live and work virtually anywhere in America. Unparalleled career options. Greater control and independence. Go where opportunities are and dreams take you!
  25. 25. WHAT DO FIRMS LOOK FOR INRECRUITS?  Strong academically  Solid technical accounting knowledge  GPA is not the only requirement!  Involved in activities, well-rounded  Professional drive and motivation  Good communication skills  Personable  Detail-oriented  Overall business awareness  Leadership skills  High ethical standards
  26. 26. WHAT YOU CAN DO NOW AND INCOLLEGE  Be proactive!!!  Talk to accountants or people working in occupations you are considering  Use your advisor to help determine your likes/dislikes and what jobs fit you  Shadow someone working in the profession in which you are interested  Join accounting and/or business clubs  Obtain internships
  27. 27. LICENSING PATHWAY  A college degree  120/150 hours of college credit  36 semester hours in business- related subjects (upper and lower)  36 semester hours in accounting-related subjects  Passage of Uniform CPA Exam  One year of general accounting experience supervised by a licensed CPA  Passage of ethics course  Evidence of good moral character
  28. 28. WANT TO KNOW MORE? Read Start Here magazine www.startheregoplaces.com www.scacpa.org Check out the CPA Association in the state you plan to land (if not SC)
  29. 29. SCACPA 2012MEMBERSHIP UPDATE &ORIENTATION
  30. 30. ABOUT SCACPA State affiliate of AICPA Founded in 1915 Governed by a 20 member voluntary Board of Directors Eight local chapters 30 guiding committees and task forces 3,900 members, including CPAs, candidates, professional affiliates, educators and students 9.5 professional staff members
  31. 31. OUR MISSION Themission of the South Carolina Association of CPAs is to support all CPAs – whether in public practice, industry, government or education – with lifelong learning opportunities necessary for their success, the promotion of high ethical standards and legislative advocacy for both the public good and for the profession.
  32. 32. WIIFM: WHAT’S IN IT FOR ME? Tools, Information and Resources Customized, friendly member service from our professional staff Advocacy: your “eyes and ears” Certification and Licensing: Direct connection to LLR Communications: Web site, CPA Report, Current Assets Education Information, research and statistics Forum (face to face or virtual) to discuss common problems and solutions Service focus: volunteerism and community service A community, network, “home,” opportunity to participate
  33. 33. MEMBERSHIP BENEFITS FOR STUDENTS(FOR ONLY $20 PER YEAR!) Enhance your resume Establish and build valuable relationships Free attendance at selected events Discounts on attendance at SCAPCA Continuing Professional Education (CPE) seminars, conferences and other events Access to a wealth of scholarships awarded by SCACPA, AICPA and other organizations Online career network Stay up to date with our e-mail, printed and Web-based publications for all members Online membership directory CPA Exam Review Course discounts and exam prep classes Student Recognition Luncheon and workshops
  34. 34. SCACPA SCHOLARSHIP PROGRAMS SCACPA offered its first scholarship in 1965. An annual program was established in 1984. In 2011, we awarded $20,500 in scholarships. Applicants should be rising juniors and seniors majoring in accounting with a minimum 3.25 GPA (overall) and 3.5 in accounting coursework. Our Web site features 16 scholarship opportunities and applications.
  35. 35. GET INVOLVED AND MAXIMIZE YOURINVESTMENT Apply for a scholarship Read The CPA Report, Current Assets Volunteer for a committee (students are welcome!) Join the Financial Literacy campaign Attend local Chapter Events and Seminars Participate in events like CPA Day at the State House, Professional Issues Update in your area and the CPA Summit Refer a member, be it a CPA, CPA candidate, professional affiliate or student Get to know your staff Take advantage of discount programs
  36. 36. AMERICAN INSTITUTE OF CPAS Since 1887, AICPA has been providing members with resources, training, programs and publications vital to CPAs. 377,000 members strong $50 per year for CPA candidates Student affiliates are free
  37. 37. RESOURCES FOR STUDENTS ANDCPA CANDIDATES scacpa.org aicpa.org startheregoplaces.com llr.state.sc.us Many others!
  38. 38. REACH YOUR PROFESSIONAL STAFF Continuing Professional Education (CPE) & Chapters April Cox, ext. 110, acox@scacpa.org Sandra Oxner, CMP, ext. 122, soxner@scacpa.org Member Services Maureen Taylor, ext. 105, mtaylor@scacpa.org April Blake, ext 100, ablake@scacap.org Communications & Young CPA Network Emily Russell, ext. 106, erussell@scacpa.org Peer Review & Member Services Glenna Osier, ext. 107, gosier@scacpa.org Finance & Accounting Karen Hancock, CPA, ext. 108, khancock@scacpa.org Chief Operating Officer Reva Brennan, MPA, CAE, IOM ext. 103, brennan@scacpa.org Chief Executive Officer Erin Hardwick, CAE, ext. 104, ehardwick@scacpa.org

×