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Accounting BYU-Idaho Accounting Department College of Business and Communication.

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Presentation on theme: "Accounting BYU-Idaho Accounting Department College of Business and Communication."— Presentation transcript:

1 Accounting BYU-Idaho Accounting Department College of Business and Communication

2 What Can I Do With An Accounting Degree? BYU-Idaho Accounting Department Audit Services Tax Compliance and Consulting Information Systems Management & Consulting Management Advisory Services General Corporate & Financial Accounting Cost Accounting Governmental Accounting Forensic Accounting Financial Consulting Expert Witness and Litigation Support Services Run your own business

3 Who Can I Work For? Public Accounting Firms (Certified Public Accountant Track) –Local, Regional, National, International Consulting Firms Business and Industry –Manufacturing, Retail, Service, Banking, Insurance, Health Care, Natural Resources, Non-profit, etc. Government Self-Employed Education –College, High School BYU-Idaho Accounting Department

4 The Public Accounting Profession (CPA Track) Big-4 Firms –PricewaterhouseCoopers –Deloitte –Ernst & Young –KPMG, LLP Regional Firms –Grant Thornton –BDO Seidman Local CPA Firms –Rudd & Company Private Practice – It is recommend that you have at least 6 – 7 years of professional experience with a CPA firm before attempting to begin your own practice! WHY? Lack of experience and reputation = no clients. No clients = No income. No income = bankruptcy. Bankruptcy = unhappy accountant. Unhappy accountant = Back to college for a degree in marketing. Be wise and plan your career. BYU-Idaho Accounting Department Following graduation, you will be qualified for employment with the following sample of firms:

5 Sample of Business and Industry Employers BYU-Idaho Accounting Department If you decide not to pursue a career in public accounting, you can work in industry for companies like these:

6 Sample of Government Employers Federal Bureau of Investigation US General Accounting Office Defense Contract Auditors Internal Revenue Service State of Idaho Idaho State Tax Commission City of Boise BYU-Idaho Accounting Department or for institutions like these:

7 What Skills Should I Possess? BYU-Idaho Accounting Department If you pursue a career in accounting, you should 1.become familiar with accounting terminology; 2.become proficient with the tools of the trade; 3.learn the concepts and principles that govern accounting and how to apply them; 4.develop advanced computer skills; 5.develop analytical and people skills; 6.possess written and oral communication skills; and 7.understand legal and ethical conduct within the accounting profession.

8 How Do I Become a Certified Public Accountant? BYU-Idaho Accounting Department If you want a long-term career in public accounting, you must become a licensed CPA. In order to become licensed, most states require 30 credits of advanced education beyond the bachelors degree, a minimum number of accounting credits, 1 – 2 years of qualifying experience, and a passing grade (75%) on the CPA Exam. If this is your career goal, you should plan on earning a Masters of Accountancy degree (MAcc) or your MBA from an accredited university.

9 What Salary Can I Expect? BYU-Idaho Accounting Department EmployerJr. Level (0 - 3 yrs.)Sr. Level (4 - 6 yrs.) Public Accounting (large firm)$52,750-$78,000$73,000-$98,000 Public Accounting (medium firm)$46,500-$70,000$66,500-$88,750 Public Accounting (small firm)$43,250-$62,750$58,750-$77,250 Corporate Accounting (large co.)$41,000-$65,000$62,250-$82,750 Corporate Accounting (medium co.)$38,500-$60,750$56,250-$74,250 Corporate Accounting (small co.)$36,250-$55,500$51,250-$66,750 Note: Add 5 to 10 % additional for one who attains their CPA. **Robert Half 2013 Salary Guide2013 Salary Guide

10 What Salary Can I Expect? BYU-Idaho Accounting Department PositionLarge Co.Small to Medium Co. Chief Financial Officer$194,500-$430,250$99,000-$198,000 Corporate Controller$131,750-$207,750$85,750-$150,250 Tax Manager$103,250-$148,500$82,000-$115,750 **Robert Half 2013 Salary Guide2013 Salary Guide

11 The Integrated Accounting Degree Foundations40 Credits Accounting Major51 Credits 1 Approved Cluster 12 Credits Electives17 Credits Total120 Credits BYU-Idaho Accounting Department In order to graduate from BYU-Idaho with an accounting degree, you must fulfill the University’s Graduation Requirements which includes earning a minimum of 120 credit hours within specified areas of study shown below:

12 Accounting Major Course Requirements Required Courses Accounting Acct 201 Acct 202 Acct 301 Acct 302 Acct 321 Acct 333 Acct 344 Acct 398R Acct 456 Acct 499 Options (any 2) Acct 312 Acct 322 Acct 403 NOTE: Those planning on entering the CPA profession or planning on going to graduate school are advised to consider taking all three of these options courses. Business B 275 B 401 Other FDMath 221 Econ 150 Econ 151 In order to graduate with a bachelor’s degree in accounting, you must complete each of the preceding courses with a C- or better. However, students need at least a B- in Accounting 201 and 202 to enroll in the 300 level accounting courses. BYU-Idaho Accounting Department

13 Minor or Clusters BYU-Idaho Accounting Department AND, in addition to completing the Foundation and Major requirements, you are required to:  complete 1 APPROVED cluster of 12 credits,  Approved clusters for Accounting include:  Business Management  Economics and Finance  Programming  Project Lifecycle  LEAVING 17 Elective credits

14 The Accounting Internship You are required to register for Accounting 398R. Your internship qualifies for 3 credits and consists of at least 270 hours of accounting-related work. Additionally, you will be requested to complete assignments during your internship. A grade will be given based on satisfactory completion of the internship and assignments. Generally, prior work-related experience will not satisfy the internship. The busiest time for accountants in business tends to be January – April. Accordingly, it is recommended, but not necessary, that your internship be completed during the Winter Semester of your junior or senior year. Accounting 301 and Accounting 321 are prerequisites. BYU-Idaho Accounting Department

15 Accounting is Fun! BYU-Idaho Accounting Department


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