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![Page 1: Connecticut Society of Certified Public Accountants Student Outreach Become a CPA – and discover a lifetime of opportunity!](https://reader035.fdocuments.net/reader035/viewer/2022062515/56649cb65503460f9497b39c/html5/thumbnails/1.jpg)
Connecticut Society of Connecticut Society of Certified Public Certified Public Accountants Accountants
Student OutreachStudent Outreach
Become a CPA – and discover a lifetime of
opportunity!
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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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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
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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.
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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!
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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
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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
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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
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PUBLIC PRACTICEPUBLIC PRACTICE•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
CPAs work in…CPAs work in…
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PUBLIC ACCOUNT
ING
Accounting/Auditing
TAX
Forensic/Fraud
Environmental“Green”
Accounting
Information Systems
ConsultingFinancial Planning
BusinessAdvisory
BusinessValuations
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GOVERNMENT
•Local•State •Federal
•POSITIONS•Auditor•Staff Accountant•Budget Analyst•Financial Manager
CPAs work in…CPAs work in…
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Government – Some Examples
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EDUCATIONEDUCATION
•High School Teacher
•College/University Professor–Dean or Administrator
•Conduct Research
CPAs work in…CPAs work in…
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•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.
CPAs work in…CPAs work in…
PRIVATE INDUSTRY/CORPORATEPRIVATE INDUSTRY/CORPORATE
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Industry – Some Examples
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Industry – Some Examples
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Industry – Some Examples
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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.
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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
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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
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How much money How much money does a CPA earn?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+
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How much money How much money does a CPA earn?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
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How much money How much money does a CPA earn?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)
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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)
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Benefits of an Accounting Degree
•Job diversity•Occupational mobility•Flexibility•Learning portable skills•High earning potential•UNLIMITED OPPORTUNITIES!!!!
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WWW.CTCPAS.ORG/STUDENTS
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THANK
YOU!!!!