Accounting For Success

What Is Accounting?
A business language A set of rules to record business transactions in a consistent manner The basis of business operations Constantly changing

What Are CPAs?

CPAs are Leaders CPAs are Advisors CPAs are Educators CPAs are Managers CPAs are Respected People in Your Community

Professional Services vs. Private Industry

Professional Services

Work for several different companies Provide audit, tax and consulting services Travel Top position is typically a partner in a firm

Private Industry

Work for one company or organization Travel varies Top positions consist of Controllers, Chief Financial Officers and Presidents

Professional Services
Large Professional Services Firms (Final Four)

Deloitte & Touche Ernst & Young KPMG PricewaterhouseCoopers BDO Seidman Grant Thornton

Regional Professional Services Firms

Career Path

Audit, tax & business consulting Service lines within each Levels of advancement

What Does Private Industry Include?

Manufacturing Retail Insurance & Banking Healthcare Not-for-Profit Government & Schools Individuals Information Technology

Topics of Discussion
My personal CPA experience Unique occupations Traditional roles Growth opportunities Salary compensation Requirements

Why Did I Choose Accounting?

Very challenging People-oriented profession Highly respected profession Flexibility High demand for accountants Financial rewards Job satisfaction Desire to understand and resolve business issues

My Personal Experience
Related Jobs Fun Growth Challenges Why I Am a CPA

Careers in Government
Securities and Exchange Compliance FBI Government Auditing County Tax Assessor Sales and Use Tax Parks and Recreation State and Local Government

Technology Careers
Software Consulting E-Business Developing and Testing Systems Change Management Security of Systems Maintaining Accounting Systems Project Management

Other Unique Careers

Entertainment Accounting International Accounting United Nations Accounting World Bank Accounting Risk Management Non-Profit (such as Red Cross) Education

Traditional Roles
Auditing Accounting and Consulting for Business Tax Accounting, Preparation and Planning Financial Planning Payroll Tax Reporting Sales Tax Reporting Financial Reporting

Growth Opportunities
CPAs become the leaders of their companies Many become the CFOs and CEOs of large and small companies They are trusted business advisors Growth is possible to the top

Salaries for CPAs in 2003

Finance staff

$46,000 $64,000 $78000 $107,000 $128,000

$0 $30,000 $60,000 $90,000 $120,000 $150,000

Finance manager

Controller

Finance director

CFO

Average total current compensation, including annual salary, bonuses and other cash compensation.

CPA vs. Bookkeeper

CPA

Bachelors or masters degree in accounting Must pass CPA exam and other requirements Starting wages Two-year education or less Does not require passage of CPA exam Starting wages

Bookkeeper

What Are the Requirements

Pass the CPA exam, requirements:
A baccalaureate degree plus a minimum of 30 semester hours (approximately 150 hours total) Total hours must include 36 semester hours in accounting beyond the principles level and 39 semester hours in general business

Continued CPE

We Look For People Who Are

Involved in activities Professional Good communication skills Personable Detail-oriented Strong academically Overall business awareness Leaders

What You Can Do Now

Assess what you like to do Assess what you are good at Leave yourself opportunities by:

Maintaining your GPA Getting involved in activities Finding what you are passionate about Choosing relevant courses, such as bookkeeping, accounting, written communications, computer applications and oral communications

What You Can Do Now

Research and apply to advantageous colleges and universities Visit the office of an accounting professional Speak to members of professional organizations Participate in a job shadowing program

Questions?