CPA Career Awareness WHY I AM HERE 2 WHAT DO YOU WANT FROM A ? 3 WHAT KIND OF DO YOU WANT TO HAVE ? 4 WHAT WILL IT COST TO THIS LIFESTYLE ? 5 Housing (Rent / Mortgage) Car / Transportation Food Clothing Phone Cable Internet Access Entertainment 6 Home Furnishings Electricity & Gas & Water Car Insurance Gasoline Health Insurance & TAXES!!! 7 WHAT IS A ? 8 Accounting Is… The means by which all companies track and report on their financial performance, internal processes and systems. It is a foundation for operating and managing all types of businesses. 9 CPA vs. Accountant Not all accountants are CPAs. A CPA is a person who has: • Completed the required accounting hours at an accredited college or university • Met the college credit-hour requirement • Received a bachelor’s or higher degree • Passed the CPA Exam • Attained a level of professional work experience 10 CPA vs. Accountant In addition- CPAs: • Possess a higher level of knowledge and experience • Enjoy wider career opportunities 11 Where Do CPAs Work? • • • • • • • • Public Accounting Business & Industry Government Non-Profit Education Forensic Accounting Law Enforcement Financial Planning 12 What Can You Earn As A CPA ? $ 13 Salary-Public Accounting Jr. Level (0-3 yrs.) Sr. Level (4-6 yrs.) Large firm 35,750-51,250 48,750-62,250 Medium firm 31,750-45,500 44,000-56,500 Small firm 29,500-42,500 41,000-54,000 Source: 2004 Robert Half International Salary Guide 14 Salary-Corporate Accounting Jr. Level (0-3 yrs.) Sr. Level (4-6 yrs.) Large firm 31,750-49,250 48,000-62,750 Medium firm 30,750-44,500 44,000-55,250 Small firm 28,500-42,000 40,500-51,500 Source: 2004 Robert Half International Salary Guide 15 How Do You Become a CPA in Arkansas ? • Complete the required accounting hours at an accredited college or university • Earn a bachelor’s degree or higher • Complete 150 college-credit hours • Pass the computerized CPA Exam • Complete one-year of professional work experience 16 VIDEO • Takin’ Care of Business 17 What is it Like to Be a ? 18 Is Accounting for You? To find out if you would make a good CPA, answer these questions below: 1. Do you enjoy working with and meeting new people? 2. Would you like to earn a degree that could take you down various career paths? 3. Do you want a career that is financially rewarding and offers opportunity for advancement? 4. Do you enjoy giving advice to others? 5. Do you like to think of solutions to problems? 6. Do you want to work with the latest technology? 7. Do you want a job that offers stability? 8. Do you enjoy researching? 9. Do you want a career that is personally rewarding? 10. Are you comfortable working with numbers? 19 Is Accounting for You? If you answered yes to five or more of the previous questions, a career in accounting might be a great profession for you! 20 Recommended Classes High School Mathematics Introductory Accounting Classes that develop written and oral communication skills Computer Sciences Economics 21 Recommended Classes College Accounting Business Law Communications Computers Economics Finance International Relations Marketing Statistics 22 Employment Outlook • Demand for accountants (especially CPAs) and auditors is expected to increase by 10-20% through the year 2010, according to the U.S. Department of Labor, and many specialized fields are anticipated to grow even faster! 23 Did You Know That…? • Author John Grisham received his undergraduate degree in accounting. • Phil Knight, Nike CEO and Arthur Blank, Home Depot founder are CPAs. • Track sensation and Coach of Villanova University Men’s Track Team Marcus O’Sullivan was a CPA. • Former Texas Rangers Manager Kevin Kennedy, and former San Francisco 49er Ray Wersching were CPAs. 24 Did You Know That…? • Former FBI Director Thomas Pickard, is a CPA. • Bob Newhart, television comedian once worked as a CPA. • Joseph Barbera, of the Hanna-Barbera animated cartoon team, initially worked as an accountant. • Kenny G., Jazz musician was an accounting student at the University of Washington. • Tom DuBois, songwriter was an accountant before becoming President of Arista Records Nashville. 25 Want More Info? For more information on becoming a CPA, here are some valuable sources: www.startheregoplaces.com www.arcpa.org 26