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Connecticut Society of Certified Public Accountants Student Outreach

Learn about the benefits of becoming a Certified Public Accountant (CPA) and explore the diverse career options available in the accounting field. Discover the education requirements, salary potential, and skills needed to succeed as a CPA.

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Connecticut Society of Certified Public Accountants Student Outreach

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  1. Connecticut Society of Certified Public Accountants Student Outreach Become a CPA – and discover a lifetime of opportunity!

  2. INTRODUCTIONS… • Name, job title, where I work, hobbies, etc. • Where did I go to school? • My office/business is… and looks like…

  3. My “typical” day…. • My clients and job responsibilities • Hours, travel, dress • My career ladder • Challenges & fun stuff (perks) • What I enjoy most, least • Personal experiences

  4. Why Did I Choose to Become a CPA? • Challenging profession • Enjoy talking and working with people • Highly respected profession • Flexibility & opportunity for growth • High demand for accounting professionals • Job satisfaction • Earning potential/job security • Helping others understand and resolve business issues

  5. What Career is for me?Some things for you to consider… • What do you like to do? • What are you good at? • What skills do you have/enjoy using? • How much is someone willing to pay you? • What jobs/careers are in demand? • Jobs vs. Careers • Value of College Education – Return on Investment

  6. What is Accounting? • A business language. • The process of recording, classifying, reporting and analyzing financial data & business transactions -- KEEPING TRACK OF THE MONEY • The basis of business operations.

  7. A CPA is…… A Certified Public Accountant (CPA) is a financial professional. CPA’s speak the “language of business.” *They provide the advice and information others need to make important financial business decisions. CPAs are in high demand as a valued member of any Business team!

  8. CPA Career Options (and there are many…!)

  9. Public Accounting • Work with many different “external” clients: individuals/companies • Provide various services or specialized niches • Firms vary in size(International, national, regional, local) • Top position is typically a partner

  10. Public Accounting: • Tax • Assurance/Audit • Advisory Services • Business Valuation • Forensic/Fraud • Financial Planning • Information Systems • Environmental

  11. Governmental Accounting: • State/Local/Federal • Tax • Audit • Budgeting • Reporting • Intelligence/Special Agent • FBI, IRS, White House,NASA, SEC, etc.

  12. Corporate Accounting: • Work for one company or organization/ “internal” • Tax • Internal Audit • Management Acct. • Analyst • Forecasting • IT • Treasurer, Controller, CEO, CFO, CIO, etc.

  13. Education: • Teacher or Administrator (High School, College, Ph.D.) • Research • Nonprofit Accounting: • Accounting • Director • United Way, PETA, American Cancer Society, Red Cross, etc. • Sole Practioner: • Starting your own business/firm

  14. Requirements to Become a CPA in CT“The 4 E’s” Education:(2-tiered) • To sit for the CPA Exam in Connecticut - bachelor’s degree (120 hours) • To be licensed as a CPA in Connecticut -150 credit hours of college education. Pass the CPA Exam: the exam tests your level of accounting knowledge. Experience: Two years of experience in accounting, which may be in the fields of public practice, government, and industry; work must be completed under the supervision of a CPA in good standing. Ethics:“open-book” take home exam.

  15. CPA Salaries Public Accounting:(Audit, Tax, Management Services) • Entry Level: $51,500 - $83,250 • Senior staff (manager, director): $94,250 - $192,250 • Partner level: $200,000 - $300,000+ • Corporate Accounting: • Entry accountant (cost, tax, general): $45,500 - $75,500 • Entry to mid-level auditors (IT, Internal): $57,500 - $96,250 • Management (CFO, VP, Treasurer, Controller): $79,250 - $465,750 Average starting salary for accounting majors: $52,900 Sources: 2015 Robert Half Salary Guide, NACE Salary Survey 2014

  16. CPA Salaries Government Accounting: • Average median annual wages (accountants/auditors): $61,490 • Supervisory: $78,000 (avg) • Education: • Assistant Professor: $93,500 (avg) • Associate Professor: $94,100 (avg) • Full Professor: $114,000 (avg) • *Higher for doctorate degreed professor On average, individuals with a CPA and/or advanced degrees earn 5-15% more.

  17. Skills Needed to Be a CPA: • Effective Communicator • Comfortable with Numbers – but NOT a “Math Whiz!” • People Person • Computer Skills (Excel/Spreadsheets) • Organized, Multi-tasker, Problem Solver • Ethical & Responsible • Networking – Get Involved! (In college there is Accounting/ Business Clubs, VITA, CTCPA Student Membership, etc.)

  18. Benefits of an Accounting Degree: • Employment! • Growth of 22% between 2008-2018 (BLS) • Internships ($17-$24/hr) • Signing bonuses, financial assistance with education and/or certification requirements, incentive-based rewards • Job diversity • Occupational mobility (internally and externally) • Flexibility • High earning potential

  19. CTCPAS.ORG/STUDENTS Thiswaytocpa.com

  20. THANKYOU!!!!

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