Becoming a Certified Public Accountant Presenter Name Title
Becoming a Certified Public Accountant Ø Presenter Name | Title Ø Date
What is a CPA? Certified Public Accountants (CPA) are innovative and strategic thinkers who are well respected for their integrity and commitment to excellence. CPAS provide a number of valuable, useful services for > Consumers > Business owners > Government agencies > Nonprofit organizations
Benefits of Becoming a CPA • • CPAs are in demand Very challenging People-oriented profession Highly respected profession Income and growth potential Job satisfaction Unlimited opportunities
About CPA Services • • Tax Services Accounting and Assurance Services Financial Services Business and Management Consulting • Litigation Services
What’s Hot in Accounting Assurance Services • Includes auditing and other exciting services: § Web. Trust Services § CPA Sys. Trust § CPA Performance Review § Elder Care Services
What’s Hot in Accounting Consulting Services • Individuals, businesses, financial institutions, non-profits and government agencies need CPAs to offer objective advice and assistance § Assistance to clients in securing loans § Budgeting § Business planning § Business valuation § Financial ratio analysis § Cash and inventory management
What’s Hot in Accounting Information Technology (IT) Services • Exploding IT growth has created huge opportunities for CPAs with strong computer skills to design and implement advanced systems to fit an organization’s needs § Internet security § Cloud computing § Programming § Software development
What’s Hot in Accounting Forensic Accounting • Forensic accountants combine their knowledge of accounting and finance with law and investigative techniques to determine whether an activity is illegal. § White-collar crimes § Security fraud § Embezzlement § Bankruptcy and contract disputes § Money laundering and organized crime
What’s Hot in Accounting Environmental Accounting • An environmental accountant analyzes external and internal costs of what happens to the environment. § National focus — Analyze situations with national impact, speak to key private and government decision-makers § Private focus — Evaluate the costs of cutting pollution, including adding in benefits of tax relief for following government regulations or tax credits for utilizing government-approved equipment or methods § Government and regulatory — Make new regulations and enforce existing ones
What’s Hot in Accounting International Accounting • In today’s global economy, CPAs with an understanding and mastery of international trade laws and regulations are in great demand § Global companies § Cultural differences § Travel or live in another country
What’s Hot in Accounting Tax and Financial Planning • CPAs help individuals and companies with financial planning, investments, taxes, mergers and acquisitions and much more. § Saving and investing § Real estate § Financial reporting § Litigation § Clients in sports, entertainment, fashion and more
Where CPAs Work: Public Practice Staff Accountant (entry-level) • $33, 500 – $46, 250 Senior Accountant (1 – 3 years experience) • $38, 000 – $57, 750 Manager (3 – 10 years experience) • $56, 000 – $97, 000 Partner (7 – 15 years experience) • $100, 000 and up Source: American Institute of CPAs (AICPA)
Where CPAs Work: Business/Industry Credit and Collection • $28, 000 – $88, 750 Financial Analyst • $45, 750 – $66, 250 Tax Manager/Specialist • $74, 750 – $102, 000 Controller • $80, 500 – $182, 000 Global Controller, Candy Company • $149, 325 – $198, 000 Treasurer • $92, 750 – $400, 000+ Chief Financial Officer • $94, 250 – $386, 750 Source: American Institute of CPAs (AICPA)
Where CPAs Work: Specializations Internal Revenue Agent • $53, 000 – $100, 000 IT Auditor • $46, 750 – $128, 250 Forensic Accountant • $59, 000 – $93, 250 Professor • $90, 000 – $150, 000 Environmental Accountant • $80, 500 – $182, 000 Source: American Institute of CPAs (AICPA)
How do I become a CPA? • Requirements differ from state to state • Three major requirements in Virginia: § Complete a 150 -hour degree program in accounting at an accredited college or university § Pass the Uniform CPA Examination § Attain more than one year of professional work experience in accounting
How do I become a CPA? High School Preparation • Choose relevant courses such as: § Bookkeeping/accounting § Written communications § Oral communications § Computer applications § Other business courses
How do I become a CPA? High School Preparation • • Research colleges and universities Visit office of CPA or accounting professional Speak to a member of the VSCPA Join clubs and participate in professional programs
What is the Virginia Society of Certified Public Accountants? VSCPA is: • The professional membership association for CPAs in Virginia • 11, 000 members § Public accounting (43 percent) § Industry (21. 2 percent) § Government (4. 2 percent) § Education (12. 2 percent)
VSCPA Mission To enhance the success of all CPAs by: § Communicating information and vision § Promoting professionalism § Advocating members’ interests
National Level American Institute of Certified Public Accountants (AICPA) • At the national level, CPAs can belong to the AICPA • 386, 000 members • CPAs can choose to belong to the AICPA and/or VSCPA, but is not a mandatory requirement • Each state has its own CPA association
Student & Educator Resources The VSCPA is committed to: • Supporting initiatives and programs that promote recruitment and retention of highly qualified candidates to the CPA profession • Fostering relationships with students and educators from grade school to college/university • Serving as a resource for students and educators
Careers in Accounting Programs and Initiatives • • • September named Careers in Accounting Month Award of Achievement Speakers Bureau Scholarships Networking & social media Additional student resources
Careers in Accounting Month September • Special highlights in Disclosures bimonthly magazine and Footnote e-newsletter • Chapter participation at student night events • Career Fairs • CPA visits to high schools
Award of Achievement • Program that recognizes outstanding accounting students nominated by their educators at Virginia high schools • Only one student can be nominated per school each year • Nominations due in March • CPAs can present the award during spring awards ceremonies
Speakers Bureau • Visit from a CPA • CPAs can speak at career fairs and in classrooms • Variety of topics for all levels § What CPAs do § Careers in accounting § Financial planning § Financial literacy
Scholarships The VSCPA Educational Foundation awards nearly $44, 000 in scholarships each year: • Mission: To inspire and support future CPAs • General: Undergraduate, minority and doctoral categories • Named scholarships: 12 awards • Applications are available online beginning each year in the fall • Deadline to apply is April 1, 2013
Website/Social Media Enhancements • • Disclosures magazine Weekly Federal Taxation Update podcasts VSCPA blog: www. cpacafe. com Social networking groups on Linked. In, Facebook, Twitter (@VSCPANews) • VSCPA You. Tube Channel • And more! Visit www. vscpa. com
Additional Student Resources Financial. Fitness. org • Financial articles and publications • Budgeting guide and quizzes • Ask a CPA Email program VSCPA. com • Become a CPA — information about the profession • List of Virginia colleges and universities with accounting programs • CPA Exam information • Links to online resources
Additional Student Resources AICPA – Accounting Websites Start. Here. Go. Places. com • Build your own virtual accountant www. aicpa. com/Become. ACPA • CPA Exam information • Scholarships This. Wayto. CPA. com • Online community for future CPAs
Questions?
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