connecticut society of certified public accountants student outreach

The Connecticut Society of Certified Public Accountants

advocacy • community • education

Connecticut Society of Connecticut Society of Certified Public Certified Public Accountants Accountants

Student OutreachStudent OutreachBecome a CPA – and discover a lifetime of

opportunity!



INTRODUCTIONS…INTRODUCTIONS…

•Name, job title, where I work, hobbies, etc.

•Where did I go to school?

•My office/business is… and looks like…



What Career is for What Career is for me?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



What exactly is Accounting?What exactly is Accounting?

•A business language.

•A set of rules to record business transactions in a consistent manner.

•The basis of business operations.



What is a CPA?What is a CPA?•A Certified Public Accountant (CPA) is a financial professional who speaks 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!



Why Did I Choose to Become a CPA?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



CPA CareersCPA 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



My “typical” day….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



CPAs work in…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



Public Practice – Some Examples

Tax or Audit Financial

PlanningInformation

Technology

Forensic &

Fraud Environmental International




Private Industry (Corporate)

•Work for one company or organization

•Top positions consist of controllers, chief financial officers, managers, etc.



Industry/Corporate – Some Examples




Government•Local, state or federal government positions



Government – Some Examples




Education

•Teachers, Administrators, Professors – High School, College

•Conduct Research



Requirements to Become a CPA Requirements to Become a CPA in CTin 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.



Skills Needed to Be a CPASkills 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



How much money does a CPA How much money does a CPA earn?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+



How much money does a CPA How much money does a CPA earn?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



How much money does a CPA How much money does a CPA earn?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



•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)

How much money does a CPA How much money does a CPA earn?earn?



Benefits of a CPA CareerBenefits 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!



What You Can Do NowWhat 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



To Learn More…To Learn More…

www.cscpa.org/studentswww.cscpa.org/students



THANK YOU!

connecticut society of certified public accountants student outreach

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