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Connecticut Society of Certified Public Accountants Student Outreach

Connecticut Society of Certified Public Accountants Student Outreach. Become a CPA – and discover a lifetime of opportunity!. INTRODUCTIONS…. Name, job title, where I work, hobbies, etc. Where did I go to school? My office/business is… and looks like….

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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. 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 exactly is Accounting? • A business language. • A set of rules to record business transactions in a consistent manner. • The basis of business operations.

  5. What is a CPA? • A Certified Public Accountant (CPA) is a financial professional whospeaks the “language of business.” • They provide the advice and information others need to make important financial business decisions. • CPAs are leaders and advisors and 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. 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

  8. 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

  9. CPAs work in… Public Practice • Work with many different companies/industriesand provide various services or specialized niches • Firms can be can 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. Public Practice – Some Examples InformationTechnology Financial Planning Tax or Audit Forensic & Fraud International Environmental

  11. CPAs work in… Private Industry (Corporate) • Work for one company or organization • Top positions consist of controllers, chief financial officers, managers, etc.

  12. Industry/Corporate – Some Examples

  13. Industry/Corporate – Some Examples

  14. Industry/Corporate – Some Examples

  15. CPAs work in… Government • Local, state or federal government positions

  16. Government – Some Examples

  17. CPAs work in… Education • Teachers, Administrators, Professors – High School, College • Conduct Research

  18. Requirements to Become a CPA in CT • Education: 150-hours of college credit. • Pass the CPA Exam: computerized exam that tests your level of accounting knowledge (Can sit for exam with 120 hrs/BS degree) • Experience: 2 years of working in public accounting. • Ethics: “open-book” take home exam.

  19. Skills Needed to Be a CPA • Communication skills (Written, verbal, electronic) • Comfortable working with numbers • “Problem Solver” • Analytical Thinker • Detail-Oriented • Computer Skills • Good people skills • Ethical

  20. How much money does a CPA earn? • In Public Accounting, accountants can earn: • (with 1 – 3 years experience) • Small Firms - $44,750 - $53,250 • Large Firms - $54,500-$66,250 • Senior staff such as managers & directors can earn: • Small firms - $80,750 - $105,500 • Medium Firms - $88,250 - $129,250 • Large Firms - $98,750 - $151,500 Partner Level - $175,000+

  21. How much money does a CPA earn? • In Industry, accountants can earn: (with 1 – 3 years experience) • Small companies - $37,000 - $48,750 • Large companies - $41,250 - $54,000 Auditors (Internal, IT) - $41,750 - $75,000 Chief Financial Officer (CFO)/Treasurers – $64,250 - $370,5000

  22. How much money does a CPA earn? • In Government, accountants can earn: (entry level) • Federal - $35,673 • State - $36,223 • 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

  23. How much money does a CPA earn? • Summer 2008 - Accounting majors’ average starting salary was $48,085 (based on Bachelor’s Degree level) • Add 10% for graduate degrees and professional certifications such as the CPA designation • (Sources: NACE, AACSB, AICPA, and Robert Half 2008 Salary Guide)

  24. Benefits of a CPA Career • Career Prospects • Employment of accountants and auditors is expected to increase 10-20% for all occupations through the year 2012. (U.S. Dept. of Labor) • Job Diversity • Occupational mobility • Career advancement/prestige • Flexibility • Portable skill set • Excellent earning potential • Unlimited opportunities!

  25. What You Can Do Now • Assess what you like to do and what you are good at. • Create opportunities for yourself by: • Maintaining a good GPA • Getting involved in activities • Choosing relevant courses such as accounting, computer classes, and communications courses • Hone your writing and oral communication skills

  26. To Learn More… www.cscpa.org/students

  27. THANK YOU!

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