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Big Four Public Accounting & First Year Expectations

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Presentation on theme: "Big Four Public Accounting & First Year Expectations"— Presentation transcript:

1 Big Four Public Accounting & First Year Expectations
Target Audience -- Freshman/Sophomore either undecided or decided accounting majors. Goal of presentation is to encourage students to be accounting majors. Presenter should share personal accounts of why they chose accounting and why they have stayed in the profession. Cathy Bedrick, Director, Transaction Services Chris Reilly, Associate, Transaction Services

2 Agenda Who are the Big 4? What services does KPMG offer?
Opportunities offered to YOU! First year expectations What is KPMG looking for? Briefly discuss agenda of presentation. Ask students what they think of when they hear “accountant” or “CPA”. Next slide.

3 Who we are & Services we offer…
Big Four Public Accounting Firms: Deloitte Ernst & Young KPMG LLP PricewaterhouseCoopers Services we offer: Audit and Risk Advisory Services Tax Services Discuss the 4 Big Four Firms and that we all interview at IU Our services we offer to clients are divided among Assurance and Tax services with specialty practices being included within both of these. All clients and personnel are divided amongst lines of business or industries as well. Discuss lines of business.

4 What services does KPMG offer
Audit and Risk Advisory Services: Financial Statement Audit Internal Control Forensic Transaction Services Risk Advisory Services Management Advisory Services Briefly explain that we have several different assurance service products offered to clients. KPMG will be interviewing at IU for the following practices on this slide: Financial Statement Audit – mention new audit process new this year!!! Government Practice Transaction Services

5 What services does KPMG offer
Tax Services: Federal Tax State and Local Tax (SALT) International Consulting Services (ICS) Economic Valuation Services (EVS) International Tax Briefly discuss the tax services we offer to clients. KPMG will be interviewing at IU for the following practices: Fed Tax

6 Opportunities for YOU! Global network Internships Varied career paths
Working on integrated teams Endless resources Mobility Knowledge sharing International Rotations Work/Life Flexibility Quality training programs Structured performance management process and mentoring program Advanced technology, including 24-hour support Discuss the benefits of working for a Big Four accounting firm

7 First Year Expectations—Getting Acquainted
Receive a high-quality training program and lots of on-the-job training Developing relationships with mentors and performance managers Receive information not only on audit and tax techniques, but administrative items as well Social events Explain to the audience that you will be discussing first year expectations of a public accounting career. We will first talk about getting acquainted with your new employer, then on-the-job expectations, and expectations in your personal life in the first year. One of the first responsibilities of a newly hired public accountant is to go to training. Explain your training experience such as where it was, what you did during training, and maybe some valuable things you learned there—even if it was just networking with people from other offices who had just started. Develop relationships with mentors and performance managers: briefly discuss our mentor program and the steps you went through with your performance manager to devise your goals for the first year. Receive information about audit/tax techniques—but administrative items as well such as time and expense reporting, etc. Social events—expect to participate in social events at training as well as with the local office. Describe some of our social events we may have at our office—golf outing, after busy season bowling party, etc. – BECAREFUL HERE!!!!

8 First Year Expectations—On the Job
Client sites Responsibility Typical work day Overtime Travel Exposure to managers, partners, and high levels of client management Now discuss on the job expectations. Explain to the audience that in audit, you will be at client sites ALL THE TIME rather than in the office. Tax Associates can expect to be in the office most of the time with occasional visits to the client. Explain what it is like at a client site and what it is like to work there—I.e. getting there—every week is different and you depend on the senior to tell you where to go and what to do, you work in a conference room with your peers, etc. Responsibility—give some examples of some of the responsibilities you have had in your first year. (Be careful—don’t tell them you “ran a job by yourself your first year”—that’s a liability issue.) Make sure you tell them that you do have adequate supervision and that you aren’t sent off to copy and file your first year. Typical day—go through a typical work day and what you might do. Overtime: state that during the busy season you may work hours per week, with a couple busy weeks in the 60 hour range. However, point out that summer are less busy. You may also want to give them an indication as to how long busy season may last (for some, it is November-March, or January-April, depends on the client base). Travel: let the audience know what kind of travel they may expect—where have you been for training and for clients. Remind the audience that this will also depend on their local office. Exposure: tell the audience that they should expect to have plenty of exposure to managers and partners and higher levels of client management as well. Give some personal experience examples.

9 First Year Expectations—Personal Life
Time Management Attire Firm Social Events and Athletic Leagues Participation in Community Service Now—changes in their personal life: Time Management—they will learn to use their personal time more wisely. Give personal examples as what you have learned in this regard. Learn to dress more professionally than you have been at school. Although most clients and offices are business casual, you still may need to work on your wardrobe when you start your job, including adding a couple of suits for those business professional clients and meetings. Expect to get involved with your office through social events and athletic leagues—give more examples of our local office outings—Holiday Party, Outing at the Track, basketball league, book club. Expect to get involved in community service—very important to KPMG. Give examples of some of the things we are involved in—United Way, American Cancer Society (Relay for Life and the Bean Counter’s Cookbook), Junior Achievement Bowl-a-thon, March of Dimes Walkamerica, collecting food, toys, clothing, school supplies, and cell phones for needy families and battered women. You may also talk about the community service you have done while at training or at the Annual Intern Event.

10 First Year Expectations—Advice from the Experts
Have a good attitude Utilize the “sponge effect”—absorb as much information as possible in year 1 Be willing to learn/learn by doing Be good team member and contribute to the team Ask lots of questions and use your good communication skills Be flexible Take charge of your own career—be prepared to ask for feedback! Get involved in recruiting activities I think this slide is self-explanatory—just expand on each of the bullet points with your own thoughts or experiences.

11 What is KPMG looking for?
Accounting majors, unless notified otherwise (please check all job postings) CPA eligible, 150 hours required (except for New York and LA) Participation on campus (extracurricular activities) GPA Read points and make the following notes: Please make sure to highlight that a Masters degree is not required only 150 hours. It is up to them if they would like to pursue a masters. Also highlight questions that will be asked at career fairs: When would you be available to start full time? What practice are you interested in? What are your #1 and #2 location preferences and why? Please note, we prefer students to intern with us the summer prior to graduation. No double internships!!

12 Questions?

13 Think BIG with KPMG
KPMG Contact: Christina Wiley, Campus Manager: Jennifer Saxe, Primary Recruiter, Indianapolis: © 2005 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. Printed in the U.S.A.

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