The Connecticut Society of Certified Public Accountants advocacy community education Connecticut Society of Certified Public Accountants Student Outreach Become a CPA – and discover a lifetime of opportunity!

The Connecticut Society of Certified Public Accountants advocacy community education INTRODUCTIONS… Name, job title, where I work, hobbies, etc. Where did I go to school? My office/business is… and looks like…

The Connecticut Society of Certified Public Accountants advocacy community education What Career is for me? What Career is for 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

The Connecticut Society of Certified Public Accountants advocacy community education What exactly is Accounting? A business language. A set of rules to record business transactions in a consistent manner. The basis of business operations.

The Connecticut Society of Certified Public Accountants advocacy community education 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!

The Connecticut Society of Certified Public Accountants advocacy community education 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

The Connecticut Society of Certified Public Accountants advocacy community education CPA Careers Differences between CPAs and other accounting positions (bookkeeper, etc.) Level of education required/CPE CPA Exam/certification/licensing required Starting wages Job responsibilities Opportunity for promotion/higher positions

The Connecticut Society of Certified Public Accountants advocacy community education 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

The Connecticut Society of Certified Public Accountants advocacy community education CPAs work in… Public Practice Work with many different companies/industries and 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

The Connecticut Society of Certified Public Accountants advocacy community education Public Practice – Some Examples Tax or Audit Financial Planning Information Technology Forensic & Fraud Environmental International

The Connecticut Society of Certified Public Accountants advocacy community education CPAs work in… Private Industry (Corporate) Work for one company or organization Top positions consist of controllers, chief financial officers, managers, etc.

The Connecticut Society of Certified Public Accountants advocacy community education Industry/Corporate – Some Examples

The Connecticut Society of Certified Public Accountants advocacy community education Industry/Corporate – Some Examples

The Connecticut Society of Certified Public Accountants advocacy community education Industry/Corporate – Some Examples

The Connecticut Society of Certified Public Accountants advocacy community education CPAs work in… Government Local, state or federal government positions

The Connecticut Society of Certified Public Accountants advocacy community education Government – Some Examples

The Connecticut Society of Certified Public Accountants advocacy community education CPAs work in… Education Teachers, Administrators, Professors – High School, College Conduct Research

The Connecticut Society of Certified Public Accountants advocacy community education Requirements to Become a CPA in 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.

The Connecticut Society of Certified Public Accountants advocacy community education Skills 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

The Connecticut Society of Certified Public Accountants advocacy community education How much money does a CPA earn? In Public Accounting, accountants can earn: (with 1 – 3 years experience) Small Firms - $42,000 - $49,000 Large Firms - $52,000-$62,250 Senior staff such as managers & directors can earn: Small firms - $76,000 - $98,000 Medium Firms - $82,000 - $120,000 Large Firms - $92,000 - $141,000 Partner Level - $175,000+

The Connecticut Society of Certified Public Accountants advocacy community education How much money does a CPA earn? In Industry, accountants can earn: (with 1 – 3 years experience) Small companies - $36,000 - $46,500 Large companies - $41,250 - $54,000 Chief Financial Officer (CFO)/Treasurers – $88,250 - $358,750 Corporate Controller - $62,000 - $153,500

The Connecticut Society of Certified Public Accountants advocacy community education How much money does a CPA 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

The Connecticut Society of Certified Public Accountants advocacy community education Summer Accounting majors’ average starting salary was $45,656 (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 2006 Salary Guide) How much money does a CPA earn?

The Connecticut Society of Certified Public Accountants advocacy community education Benefits of a CPA Career Career Prospects Employment of accountants and auditors is expected to increase 10-20% for all occupations through the year (U.S. Dept. of Labor) Job Diversity Occupational mobility Career advancement/prestige Flexibility Portable skill set Excellent earning potential Unlimited opportunities!

The Connecticut Society of Certified Public Accountants advocacy community education What 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

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The Connecticut Society of Certified Public Accountants advocacy community education THANK YOU!