Becoming a Certified Public Accountant

1. Becoming a Certified Public Accountant • Presenter Name | Title • Date

2. What is a CPA? • Certified Public Accountants (CPA) are innovative • and strategic thinkers who are well respected for • their integrity and commitment to excellence. • CPAS provide a number of valuable, useful services for • Consumers • Business owners • Government agencies • Nonprofit organizations

3. Benefits of Becoming a CPA • CPAs are in demand • Very challenging • People-oriented profession • Highly respected profession • Income and growth potential • Job satisfaction • Unlimited opportunities

4. About CPA Services • Tax Services • Accounting and Assurance Services • Financial Services • Business and Management Consulting • Litigation Services

5. What’s Hot in Accounting • Assurance Services • Includes auditing and other exciting services: • WebTrust Services • CPA SysTrust • CPA Performance Review • Elder Care Services

6. What’s Hot in Accounting • Consulting Services • Individuals, businesses, financial institutions, non-profits and government agencies need CPAs to offer objective advice and assistance • Assistance to clients in securing loans • Budgeting • Business planning • Business valuation • Financial ratio analysis • Cash and inventory management

7. What’s Hot in Accounting • Information Technology (IT) Services • Exploding IT growth has created huge opportunities for CPAs with strong computer skills to design and implement advanced systems to fit an organization’s needs • Internet security • Cloud computing • Programming • Software development

8. What’s Hot in Accounting • Forensic Accounting • Forensic accountants combine their knowledge of accounting and finance with law and investigative techniques to determine whether an activity is illegal. • White-collar crimes • Security fraud • Embezzlement • Bankruptcy and contract disputes • Money laundering and organized crime

9. What’s Hot in Accounting • Environmental Accounting • An environmental accountant analyzes external and internal costs of what happens to the environment. • National focus — Analyze situations with national impact, speak to key private and government decision-makers • Private focus — Evaluate the costs of cutting pollution, including adding in benefits of tax relief for following government regulations or tax credits for utilizing government-approved equipment or methods • Government and regulatory — Make new regulations and enforce existing ones

10. What’s Hot in Accounting • International Accounting • In today’s global economy, CPAs with an understanding and mastery of international trade laws and regulations are in great demand • Global companies • Cultural differences • Travel or live in another country

11. What’s Hot in Accounting • Tax and Financial Planning • CPAs help individuals and companies with financial planning, investments, taxes, mergers and acquisitions and much more. • Saving and investing • Real estate • Financial reporting • Litigation • Clients in sports, entertainment, fashion and more

12. Where CPAs Work: Public Practice • Staff Accountant (entry-level) • $33,500 –$46,250 • Senior Accountant (1 – 3 years experience) • $38,000 – $57,750 • Manager (3 – 10 years experience) • $56,000 – $97,000 • Partner (7 – 15 years experience) • $100,000 and up • Source: American Institute of CPAs (AICPA)

13. Where CPAs Work: Business/Industry • Global Controller, Candy Company • $149,325 – $198,000 • Treasurer • $92,750 – $400,000+ • Chief Financial Officer • $94,250 – $386,750 • Credit and Collection • $28,000 – $88,750 • Financial Analyst • $45,750 – $66,250 • Tax Manager/Specialist • $74,750 – $102,000 • Controller • $80,500 – $182,000 • Source: American Institute of CPAs (AICPA)

14. Where CPAs Work: Specializations • Internal Revenue Agent • $53,000 – $100,000 • IT Auditor • $46,750 – $128,250 • Forensic Accountant • $59,000 – $93,250 • Professor • $90,000 – $150,000 • Environmental Accountant • $80,500 – $182,000 • Source: American Institute of CPAs (AICPA)

15. How do I become a CPA? • Requirements differ from state to state • Three major requirements in Virginia: • Complete a 150-hour degree program in accounting at an accredited college or university • Pass the Uniform CPA Examination • Attain more than one year of professional work experience in accounting

16. How do I become a CPA? • High School Preparation • Choose relevant courses such as: • Bookkeeping/accounting • Written communications • Oral communications • Computer applications • Other business courses

17. How do I become a CPA? • High School Preparation • Research colleges and universities • Visit office of CPA or accounting professional • Speak to a member of the VSCPA • Join clubs and participate in professional programs

18. What is the Virginia Society of Certified Public Accountants? • VSCPA is: • The professional membership association for CPAs in Virginia • 11,000 members • Public accounting (43 percent) • Industry (21.2 percent) • Government (4.2 percent) • Education (12.2 percent)

19. VSCPA Mission • To enhance the success of all • CPAs by: • Communicating information and vision • Promoting professionalism • Advocating members’ interests

20. National Level • American Institute of Certified Public • Accountants (AICPA) • At the national level, CPAs can belong to the AICPA • 386,000 members • CPAs can choose to belong to the AICPA and/or VSCPA, but is not a mandatory requirement • Each state has its own CPA association

21. Student & Educator Resources The VSCPA is committed to: • Supporting initiatives and programs that promote recruitment and retention of highly qualified candidates to the CPA profession • Fostering relationships with students and educators from grade school to college/university • Serving as a resource for students and educators

22. Careers in Accounting Programs and Initiatives • September named Careers in Accounting Month • Speakers Bureau • Scholarships • Networking & social media • Additional student resources

23. Careers in Accounting Month • September • Special highlights in Disclosures bimonthly • magazine and Footnote e-newsletter • Chapter participation at student night events • Career Fairs • CPA visits to high schools

24. Speakers Bureau • Visit from a CPA • CPAs can speak at career fairs and in classrooms • Variety of topics for all levels • What CPAs do • Careers in accounting • Financial planning • Financial literacy

25. Scholarships • The VSCPA Educational Foundation awards $44,000 in scholarships each year: • Mission: To inspire and support future CPAs • General: Undergraduate, graduate, minority and doctoral categories • Named scholarships: 12 awards • Applications are available online beginning each year in the fall • Deadline to apply is April 1, 2014

26. Website/Social Media Enhancements • Disclosures magazine • Weekly Federal Taxation Update podcasts • VSCPA blog: www.cpacafe.com • Social networking groups on LinkedIn, Facebook, Twitter (@VSCPANews) • VSCPA YouTube Channel • And more! Visit www.vscpa.com

27. Additional Student Resources • FinancialFitness.org • Financial articles and publications • Budgeting guide and quizzes • Ask a CPA Email program • VSCPA.com • Become a CPA — information about the profession • List of Virginia colleges and universities with accounting programs • CPA Exam information • Links to online resources

28. Additional Student Resources • AICPA – Accounting Websites • StartHereGoPlaces.com • Build your own virtual accountant • www.aicpa.com/BecomeACPA • CPA Exam information • Scholarships • ThisWaytoCPA.com • Online community for future CPAs

29. Questions?