Presentation on theme: "WICPA Accounting Careers. Speaker name Company Background WICPA member."— Presentation transcript:
WICPA Accounting Careers
Speaker name Company Background WICPA member
Mission: The Wisconsin Institute of CPAs is a professional association which strives to serve its members, assure the public, and maintain the integrity of the accounting profession through the provision of continuing education, peer review, and community service opportunities; involvement in the legislative process; and communication with the public through the print and broadcast media. WICPA membership: Over 8,000 members Builds relationships Education opportunities Speaking opportunities Career opportunities About the WICPA
Let’s Introduce Ourselves Who Are You? Tell us your name Why you are interested in accounting? What do you plan to do with an accounting degree?
1.You have to be a great math student to be an accountant. 2.An accounting degree can lead you to a career in sports, music or entertainment. 3.With an accounting job, you are stuck behind a desk all day counting beans. 4.CPAs are crime fighters. 5.CPAs either work for the IRS or prepare tax returns. Fact or Fiction
Certified Public Accountants Who Are CPAs? Professionals Trusted business advisors Technical specialists Project managers Analysts & decision makers Strategic thinkers Problem solvers Users of technology Ethical Team oriented Educators
Licensed by a State Board of Accountancy Governed by a Code of Professional Conduct Must adhere to technical standards Maintain a high level of independence, objectivity and integrity Certified Public Accountant
CPA License Requirements How to become a CPA? 1.Complete 150 semester units 2.Minimum degree bachelor 3.Pass CPA Exam 4.Professional work experience
Public accounting Corporate/industry accounting Business entrepreneur Government Non-profit Education/teaching Career Paths
Public Accounting On the Job Reviewing financial statements Assessing risk Testing systems Evaluating assets Tax planning Performance measurement Analyzing operations Financial planning Benchmarking Teaching/researching What’s In It For You? Internships Challenging & rewarding work Numerous career paths Broad industry exposure Global assignments Continuous learning Performance based salary Competitive benefits Working with talented people Diverse workforce Work/Life balance
Corporate / Industry Accounting Work for a company (Small to Large) Roles include… Prepare financial statements Manage company financing and investing activities Audit internal financial / operating systems Analyze and report on financial and non-financial data Identify ways to improve financial performance Assess tax requirements and alternatives Rise to top level management CEO CFO Controller Directors of divisions
Business Entrepreneur Countless opportunities … what you make of it! High Risk = High Reward
Government Opportunities Federal (FBI, IRS, Treasury, General Accounting Office) Investigating white-collar crime Conducting financial statement audits Performing analysis & research Dealing with tax legislation State & Local (School districts, DFI, DOR) Conduct audits Compile financial statements Deal with state tax legislation Audits at All Levels of Government (FDIC, OCC, SEC, Internal) Performance (evaluate an organization’s operations) Financial (examine financial statement) Compliance (id deviations from laws/regs) Investigative (investigate improper activities)
Non-Profit Perform cost benefit analysis – Are expenses exceeding revenues? Advise on budgeting & tax matters Prepare financial data to aid in raising & disbursing funds Setup internal control process Find fraud
Education Accounting Faculty Typical Career Track Teach Conduct research Publish articles/books Serve as business consultants & experts Assistant (0-6 years) Associate (with tenure in 7 th year) Full professor (10-12 years)
Networking Think about what you want from a career Talk to family, friends, teachers, and accountants Get involved with school organizations Consider an internship and/or job shadow So Which Path is Right for You?
We’re In Demand! Aging Population Needs Financial Advice & Protection The Census Bureau says that an American turns 65 years old every 13 seconds and that some 10,000 boomers retire every day. It’s estimated that 70 million people will be 65 or older by 2030 – nearly doubling the 34 million today (2011). “For every three people leaving (retiring from financial services businesses) there’s only one to take their place right now.” – CNBC August 2011 U.S. Bureau of Labor Statistics estimates 22% growth in accounting and auditing jobs in the decade between 2008 – 2018 especially CPAs and graduates with masters degrees. – AICPA May 2011
Accounting Career Demand is good Very challenging People oriented profession Highly respected Income potential Job satisfaction Unlimited opportunities Benefits to You
Preparation for H.S. Students Choose Relevant Courses Accounting Computer Applications Economics Written Communications Oral Communications Research & apply to colleges & universities Visit an accounting practice Speak to a WICPA member Participate in a job shadow program
Resources WICPA AICPA Accounting firms High school Colleges & universities State boards of accountancy Internet Career centers & fairs Where to Obtain More Information
WICPA – Where to Find Us? Wisconsin Institute of Certified Public Accountants 235 North Executive Drive, Suite 200 Brookfield, WI Tel: (262) (800)
Thank you! We hope to see you as a WICPA member soon.