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- 1. Hello Student Today I will be informing you about my career! 2/18/2015Zanab Khan 1
- 2. Becoming An Accountant Zanab Khan CSC105-Section 16 April 2, 2014 2/18/2015Zanab Khan 2
- 3. Introduction Purpose My goal in life is to become an accountant. Topics: Job Description Personality Traits Work Week Education Certification Licensing/Employment College Cost Financial Aid Job Opportunities Promotion Salary Physical Requirement for Career Dangers of Career Degree Associate Degree/Further Education Higher Education Career Appeal Career Choice Appeal Career Exploration Future Research Career Knowledge Conclusion 2/18/2015Zanab Khan 3
- 4. Job Description Prepare income statements Prepare balance sheets Statement of cash flows Expense reports Preparing reports of audit contracts, orders, and vouchers. Prepare tax returns (Taylor, Allan, and James Robert Parish. "Accountant." Ferguson's Career Guidance Center. Facts On File, Inc. Web. 5 Mar. 2014.) 2/18/2015Zanab Khan 4
- 5. Personality Traits Analytical mind Computer skills Communication skills Mathematical affinity Organization Skills Business Sense "Be an Actuary." Is This the Career For You? N.p., n.d. Web. 16 Mar. 2014. 2/18/2015Zanab Khan 5
- 6. Work Week 9 to 5 work day Monday to Friday Average Normal work week is 40 hours week Typical work week for Public accountant is 60 hours week . Can Work From Home? Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, Accountants and Auditors, (visited March 13, 2014). 2/18/2015Zanab Khan 6
- 7. Education Levels Associate degree in Business Administration and Accounting Bachelor’s degree in Business Administration Bachelor’s degree in Accounting/Economics Master’s Degree in Business Administration Master’s Degree in Accounting Taylor, Allan, and James Robert Parish. "Accountant." Ferguson's Career Guidance Center. Facts On File, Inc. Web. 5 Mar. 2014.) 2/18/2015Zanab Khan 7
- 8. Certification Licensing/Employment 2/18/2015Zanab Khan 8 Bachelor’s Degree 150 semester education hours http://www.aicpa.org/Be comeACPA/GettingStarte d/Pages/default.aspx Pass all four parts of CPA Exam http://www.aicpa.org/Beco meACPA/GettingStarted/Pag es/default.aspx Experience 1-2 years of accounting, auditing
- 9. Average College Costs Master City University $40,000 Bachelors Degree: New Jersey Technology of Institute: $27,940 http://www.njit.edu/ financialaid/docs/Red _Book_1314_2_revised _122112_030714.pdf Associate Degree: Middlesex County College : $21,000 https://www2.middlesex cc.edu/financial-aid.html 2/18/2015Zanab Khan 9
- 10. Financial Aid Middlesex County College Federal Student Aid Federal Pell Grant William D. Ford Federal Direct Student Loan Program (Stafford Loans) NJ Stars Program http://www2.middlesexcc.edu/financial-aid/types-of-aid.html 2/18/2015Zanab Khan 10
- 11. Future Job Opportunities/Forecast Prediction Bright future Knowledge and skills set of this profession is always in demand. Good Education Gaining experience at an accounting firm Improving Productivity Skills Competition in job market "Supply and Demand for Accounting Talent at Record Levels." Supply and Demand for Accounting Talent at Record Levels. N.p., n.d. Web. 16 Mar. 2014. 2/18/2015Zanab Khan 11
- 12. Promotion Earning a associate and bachelor’s degree in accounting. Earning a master’s degree in accounting Passing all four parts of CPA exam. Gaining experience in accounting firm. Having good productivity skills can promote employers to higher position. Junior and senior management position. "Advancement Opportunities in Accounting." Work. N.p., n.d. Web. 14 Mar. 2014. 2/18/2015Zanab Khan 12
- 13. Expected Salary Employer Junior Level (1-3 years) Senior Level (4-6 years) Public Accounting(large firm) $51,500-$74,250 $71,000-$92,250 Public Accounting(medium firm) $42,250-$66,750 $64,250-$84,500 Public Accounting(small firm) $42,500-$60,500 $57,000-$74,000 Corporate Accounting (large company) $41,750-$68,500 $67,000-$86,500 Corporate Accounting (medium company) $40,000-$63,250 $60,250-$79,500 Corporate Accounting(small company) $37,000-$56,750 $52,750-$68,500 2/18/2015Zanab Khan 13 "Salary and Demand." Start Here, Go Places. N.p., n.d. Web. 14 Mar. 2014.
- 14. Physical Requirements Work in an Office Sorting Out Files Entering Data on Spreadsheet Cutting Disbursements Checks Receiving Invoices Khan, Wasim Career Interview. 13 March 2014. 2/18/2015Zanab Khan 14
- 15. Dangers of Accounting Fraud Embezzlement Check Forgery Diperto, Ben "Accountants Should Focus on Detecting Fraud, Experts Say." Risk Compliance RSS. N.p., n.d. Web. 14 Mar. 2014. 2/18/2015Zanab Khan 15
- 16. Degree in Middlesex County College Associate Applied Science-Accounting it is easily transferable to four year college. Required Classes for Accounting: 1.) Accounting 2.) Business Law 3.) Business Organization and Management 4.) Mathematics 5.) Economics http://www2.middlesexcc.edu/academics/academic-departments/accounting- business-and-legal-studies/accounting.html 2/18/2015Zanab Khan 16
- 17. Associate Degree and Further Education My further education will be held in New Jersey. Choice of Schools for Further Education NJIT http://www.njit.edu/admissions/whatssospecial/index.php Rutgers University http://business.rutgers.edu/ais/academic-programs/ug- accounting 2/18/2015Zanab Khan 17
- 18. Higher Level Degree I plan to pursue my degree in accounting at NJIT. http://som.njit.edu/about/index.php 2/18/2015Zanab Khan 18
- 19. Career Appeal Parents are both Accountants. Demand for Accountants in the Economy. Good White Collar Profession. Good Pay Benefits Health Benefits "Why Major in Accounting?" / Accountancy / CBA. N.p., n.d. Web. 14 Mar. 2014. 2/18/2015Zanab Khan 19
- 20. Career Choice Appeal 1.) This career choice appeals to me several different ways. Why? Respectful job ("Five Careers That Command Respect." Yahoo Education. N.p., n.d. Web. 16 Mar. 2014.) Higher ranked job High Level of Demand ("Salary and Demand." Start Here, Go Places. N.p., n.d. Web. 14 Mar. 2014.) Well Paid ("5 Reasons to Consider Accountancy." 5 Reasons to Consider Accountancy. N.p., n.d. Web. 16 Mar. 2014.) Good Benefits Job Security ( "Salary and Demand." Start Here, Go Places. N.p., n.d. Web. 14 Mar. 2014.) 2/18/2015Zanab Khan 20
- 21. Career Choice No new Career Choice. Accounting is My Passion. 2/18/2015Zanab Khan 21
- 22. Career Exploration Graduating this semester with Associate’s Degree. Going to the next level by achieving Bachelor’s Degree. Gaining skills for job experience How to set goal for your career. Focus on career Being Successful 2/18/2015Zanab Khan 22
- 23. Future Research Graduating this semester from associate degree. Going to the next level of bachelor degree. Gaining skills for job experience How to set goal for your career. Focus on career Being Successful 2/18/2015Zanab Khan 23
- 24. Career Knowledge Focus on your major. Admission into top quality Business School. Select required courses for Bachelor’s Degree. Graduate with Bachelor’s Degree. Pursue Master’s Degree. Pass the CPA examination 2/18/2015Zanab Khan 24
- 25. Conclusion 2/18/2015Zanab Khan 25 Clarity About Chosen Profession Clarity About Future Actions to Pursue Profession Executing a Powerpoint Presentation
- 26. Work Cited 1.) 5 Reasons to Consider Accountancy." 5 Reasons to Consider Accountancy. N.p., n.d. Web. 16 Mar. 2014. 2.) "Advancement Opportunities in Accounting." Work. N.p., n.d. Web. 14 Mar. 2014. 3.) "Be an Actuary." Is This the Career For You? N.p., n.d. Web. 16 Mar. 2014 3.) Benefits of a CPA Career." Benefits of a CPA Career. N.p., n.d. Web. 16 Mar. 2014. 4.) Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, Accountants and Auditors, (visited March 13, 2014). 5.) DiPietro, Ben. "Accountants Should Focus on Detecting Fraud, Experts Say." Risk Compliance RSS. N.p., n.d. Web. 14 Mar. 2014. 6.) .) "Five Careers That Command Respect." Yahoo Education. N.p., n.d. Web. 16 Mar. 2014.2/18/2015Zanab Khan 26
- 27. Work Cited Continue 7.) "Getting Started." AICPA -. N.p., n.d. Web. 14 Mar. 2014. 8.) Khan, Wasim. "Career Interview." Interview. n.d.: n. pag. Print. 9.) "Salary and Demand." Start Here, Go Places. N.p., n.d. Web. 14 Mar. 2014. 10.) "Supply and Demand for Accounting Talent at Record Levels." Supply and Demand for Accounting Talent at Record Levels. N.p., n.d. Web. 16 Mar. 2014. 11.)Taylor, Allan, and James Robert Parish. "Accountant." Ferguson's Career Guidance Center. Facts On File, Inc. Web. 5 Mar. 2014. 12.) "Why Major in Accounting?" / Accountancy / CBA. N.p., n.d. Web. 14 Mar. 2014. 13.) https://www2.middlesexcc.edu/financial-aid.html 14.)http://www.njit.edu/financialaid/docs/Red_Book_1314_2_revised_122112_030714.pdf 2/18/2015Zanab Khan 27
- 28. Work Cited Continue 2 15.) http://www2.middlesexcc.edu/financial-aid/types-of-aid.html 16.) http://www2.middlesexcc.edu/academics/academic-departments/accounting-business-and-legal-studies/accounting.html 17.) http://www.njit.edu/admissions/whatssospecial/index.php 18.) http://business.rutgers.edu/ais/academic-programs/ug-accounting 19.) http://som.njit.edu/about/index.php 2/18/2015Zanab Khan 28
Editor's Notes
- Becoming An Accounting
- Introduction: Accountants are responsible for the financial records of a business or organization, including tax records, accounts payable and accounts receivable. Job purpose of an Accountant is to provide financial information to management by researching accounting data; preparing reports. They are many jobs of accounting. 1.) Bookkeeping 2.) Accounts Payable 3.) Accounts Receivable 4.) Cost Accounting 5.) Tax Accounting 6.) Payroll Accounting 7.) Public Accounting 8.) Management Accounting John Halliston on January 17th, 2013
- They compile and analyze fiscal information detailing assets, liabilities, and capital and prepare balance sheets, profit and loss statements and other documentation to summarize the current and projected financial position of companies. Thy audit contracts, orders, and vouchers, preparing reports to substantiate individual transactions prior to settlement. They frequently are responsible for creating budgets by analyzing past and present financial operations, as well as estimates of future revenues and expenditures.
- The skills developed and honed by successful actuaries include an excellent business sense with knowledge of finance, accounting, and economics; keen analytical, project management, and problem solving skills; specialized math knowledge; strong computer skills; and solid written and oral communication skills.
- Many accountants work standard 40-hour workweeks. Some accountants work longer hours. The U.S. Department of Labor reports that 20 percent of accountants and auditors work more than 40 hours a week. Technology is increasingly allowing accountants to work anywhere and anytime—as long as they have a computing device (computer, smartphone, tablet, laptop) and an Internet connection. This development is allowing much more flexibility in regard to work schedules and work locations, and many accountants now work from home at least some of the time.
- Accountant positions require at least a bachelor’s degree in accounting or related field, and may require a master’s in accounting or a master’s degree om business administration with concentration in accounting. Business manager habitually seeks individuals who have computer science training.
- Average College Cost Associate degree: Middlesex county college: $21,000 Bachelors Degree: NJIT $27,940
- Financial Aid will be available for associate degree, bachelor degree, and master degree. Federal Student Aid: The Expected Family Contribution (EFC) calculated from the Free Application for Federal Student Aid (FAFSA) determines this award. Federal Pell Grant: The Federal Pell Grant is available to students who have demonstrated the highest calculated need. It is estimated that this award will range between $602 and $5,550 for full-time study for the 2012-13 aid year. The William D. Ford Federal Direct Student Loan Program (Stafford Loans) provides low-interest long-term loans to students for education expenses. The lender of these loans is the federal government and repayment is to the U.S. Department of Education. The Federal Direct Subsidized Student Loan is awarded to students with financial need. The Subsidized loan has a fixed interest rate of 3.4% through June 30, 2012 and a fixed interest rate of 6.8% for loans disbursed on or after July 1, 2012. The New Jersey Student Tuition Assistance Reward Scholarship (NJ STARS) Program is an initiative created by the State of New Jersey that provides New Jersey’s highest achieving students with free tuition at their home county college. The NJ STARS award covers the cost of tuition, less any State and/or Federal grants and scholarships, for up to five semesters. The award covers these charges for up to 18 credit hours per semester.
- Bright future Knowledge and skills set of this profession is always in demand. Good Education Learn fundamentals of financial management, operations management, marketing and business communications. Learn theories management information systems in relation to accounting. A new study examining supply and demand trends in accounting found that the profession is thriving—with college enrollments, degrees awarded, and demand for new accounting graduates all reaching all-time highs. In addition to the high demand in 2012, the study found that 89% of public accounting firms forecast that they would hire the same number of more graduates in the following year, a trend that bodes well for current accounting students nearing graduation. “Demand is off the charts,” said Paul McDonald, a senior executive director with staffing firm Robert Half International. McDonald, who was not involved with the survey, said that it is an “excellent time to be an accountant.” The improving economy and increased regulatory and compliance demands have affected hiring. And McDonald sees the convergence of accounting, finance, and information technology skills as another factor. Competition is very important in future job opportunities .
- While you don't need a degree to get a start in accounting, you do need one to advance in your career. You can start out as an accounting clerk, working in accounts payable, accounts receivable or payroll. Earning an associate degree in accounting while you work considerably boosts your chances for promotion. With that degree and a more responsible position, such as payroll accountant, extend your education and earning a bachelor's degree, which you'll need to advance to management positions. With a bachelor's degree in accounting, you may move into management accounting -- also known as corporate accounting -- starting out as a general ledger or job cost accountant, or an auditor. Work your way up to the head of a department for a large company, or controller for a small business.
- The CPA credential is highly respected and internationally recognized. To a potential employer, it means high ethical standards, valuable experience, a superior education and crazy good skills. And employers are willing to pay for that. Take a look at the average salaries for college graduates in public and private accounting. Keep in mind if you also have a CPA license, you’ll make 10-15% more when you start out.
- There is no special physical requirement of job.
- Accountants have been slow to embrace the idea that a core function of their job is to identify fraud during company audits, and more education and training is needed to hasten the advancement of this idea. Part of the problem is while standards have evolved to incorporate fraud detection into the job description, it’s not always possible to know who in an organization is involved in deceptive number-crunching, say two accounting experts. Most auditors are not prepared to search for and identify the signs of financial fraud, and this lack of preparation is even more pronounced among staff and senior auditors, where the majority of the detailed audit work and client conversations take place, Mr. Fox said, adding this shows resistance remains as to whether this should be the responsibility of the accountant/auditor.
- Accounting is one of the most rapidly expanding fields in today's economy. Since it is service oriented, it involves working with people almost as much as with financial records. Accountants not only collect and report financial data, but they also serve as the link between the data and the people who use it.
- The accounting specialization is for students who are interested in becoming Certified Public Accountants or working in the field of accounting. Accounting specialization courses include CPA eligibility requirements along with electives in international accounting and forensic accounting. Students in this specialization will be encouraged to pursue internships in the field in order to apply the skills learned in the classroom and enhance their career prospects for the future. Rutgers University: Students can obtain a BS degree in Accounting. Additionally, students preparing for a career in public accounting, who meet specified academic requirements, have the opportunity to enroll in an accounting program at the master's level at the Rutgers Business School.
- Why? It is rank one of top college in New Jersey. The School of Management is one of NJIT's six schools and colleges serving as the university's business school. The School of Management has also been ranked by Princeton Review (www.PrincetonReview.com) in its 2011 edition as one of “The Best 300 Business Schools.” The Princeton Review quotes “the course work is very current and the class discussions are lively.”`
- This guide will try to give you the information you need to make these important decisions that will profoundly affect your professional and personal life. Either way, there's one degree that gives you the education to succeed at just about anything in the business world. It's an accounting degree. Accounting opens doors in every kind of business coast to coast. It can give you the foundation you need to go on and become a CPA. It can prepare you to become a partner in an accounting firm, to pursue a career in finance or corporate management, to work in government, or even to become an entrepreneur. In fact, no matter what you decide to do, having an accounting background can open doors wide.“ The reason accounting may be the best route to a successful business career is because accounting has always been considered as the language and basic tool of business. It has always concerned itself with determining how a business is doing and what is the bottom line. The demand for accountants appears to be growing and outstripping supply. Job opportunities in today's business climate is better than ever for accountants.
- 1.)They enjoy more respect, more responsibilities, and have the potential to earn more than typical accountants. 2.)CPA professional is ranked higher. 3.) All companies, no matter their size, require the knowledge and services of a bookkeeper and accountant, so there is no shortage of work. As long as you deliver your work on time and to the required standard then word of mouth alone is likely to keep you in business. 4.) Those who choose to progress up the ladder and become a qualified accountant can expect to earn significantly more. 5.) Benefits: Flexible work schedules Health Insurance Life Insurance Student Loan Payments Vacation Leave Incentive to Pass the professional examination Job Security:The employment of accountants and auditors is expected to increase 10-20 percent through the year 2008, according to the Occupational Outlook Handbook, published by the U.S. Department of Labor's Bureau of Labor Statistics. The handbook further notes that those who obtain professional recognition by earning their CPA, a master's degree, and/or specialized expertise will have an advantage in the job market. In addition to openings resulting from growth, the need to replace accountants and auditors who retire or transfer to other occupations is expected to produce thousands of job openings annually.
- Graduating this semester from associate degree. Going to the next level of bachelor degree. Gaining skills for job experience How to set goal for your career. Focus on career Being Successful
- Graduating this semester from associate degree. Going to the next level of bachelor degree. Gaining skills for job experience How to set goal for your career. Focus on career Being Successful
- Focus on your major. Selected accurate business school in Tri-state areas. Selected required courses for bachelor degree. Graduate from bachelor degree. Moving on the next level is Master Degree. Pass the CPA examination