Connecticut Society of Certified Public Accountants Student Outreach

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. What Career is for me?Some things 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

4. 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.

5. 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!

6. 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

7. 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

8. CPA Careers • Differences between CPAs and other accounting positions (bookkeeper, etc.) • CPA Exam/certification/licensing required • Level of education required/CPE • Starting wages • Job responsibilities • Opportunity for promotion/higher positions

9. PUBLIC PRACTICE CPAs work in… • Work with many different companies/industries and provide various services or specialized niches • Firms can be international and very large in size (Big 4), mid-sized (regional firms) or small and local firms • Top position is typically a partner in a firm

10. Accounting/Auditing TAX Environmental “Green” Accounting Public Accounting Forensic/ Fraud Business Valuations Information Systems Consulting BusinessAdvisory Financial Planning

11. CPAs work in… GOVERNMENT • Local • State • Federal • POSITIONS • Auditor • Staff Accountant • Budget Analyst • Financial Manager

12. Government – Some Examples

13. CPAs work in… EDUCATION • High School Teacher • College/University Professor • Dean or Administrator • Conduct Research

14. CPAs work in… PRIVATE INDUSTRY/CORPORATE • Work for one company or organization • POSITIONS • -Internal Auditing • -Financial and Management Reporting • -Tax Planning • -Corporate Finance • -Strategic Planning or New Product Development • Top positions consist of controllers, chief financial officers, managers, etc.

15. Industry – Some Examples

16. Industry – Some Examples

17. Industry – Some Examples

18. Requirements to Become a CPA in CT • Education: 150-hours of college credit. • *(Bachelor’s Degree/120 hrs to sit for exam) • 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.

19. 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

20. Accounting Salaries • Bachelor's degree candidates in accounting received starting offers averaging $48,993 • Master's degree candidates in accounting were offered $49,786 • In the top ten for starting salaries for graduates by degree • On average, individuals with a CPA and/or advanced degrees earn 10-15% more. • Source: NACE’s 2009 Summer Salary Survey

21. How much money does a CPA earn? • In Public Accounting, accountants can earn: • (with 1 – 3 years experience) • Small Firms - $46,250 - $58,250 • Large Firms - $56,250-$72,500 • Senior staff such as managers & directors can earn: • Small firms - $85,500 - $116,500 • Medium Firms - $94,500 - $143,000 • Large Firms - $107,000 - $167,250 Partner Level - $150,000 - $200,000+

22. How much money does a CPA earn? • In Industry, accountants can earn: (with 1 – 3 years experience) • Small companies - $38,750 - $50,500 • Large companies - $45,750 - $64,500 • Auditors (Internal, IT) • Small companies - $49,250 - $74,750 • Large Companies – $45,750 - $81,750 • Management • (Treasurers, Directors, Controllers, CEOs, CFOs • VPs, etc.) – $67,000 - $395,000

23. How much money does a CPA earn? • In Government, accountants can earn: • Federal/State - $35,673 - $36,223(entry level) • MS or 2 years of professional experience approximately $43,731 • Supervisory and managerial positions averaged $78,665 • Auditors averaged $83,322 • In Education, CPAs can earn: • (Accounting faculty at accredited colleges) • Assistant Professor - $93,500 (mean salary) • Associate Professor - $94,100 (mean salary) • Full Professor - $114,000 (mean salary) • *Higher for doctorate degreed professor (Source: Robert Half 2011 Salary Guide, www.bls.gov)

24. Accounting Degree = Landing a Job! • Employment of accountants and auditors is expected to grow by 18 % between 2006 and 2016, which is faster than the average for all occupations. • Internships (usually paid!) offer great experience and perhaps, a job offer!! • (U.S. Dept. of Labor - BLS)

25. Benefits of an Accounting Degree • Job diversity • Occupational mobility • Flexibility • Learning portable skills • High earning potential • UNLIMITED OPPORTUNITIES!!!!

26. WWW.CTCPAS.ORG/STUDENTS

27. THANKYOU!!!!