CPA Pathway
You and the Profession’s Future
October 22, 2015
What will we accomplish?
 What’s In a Name? CPA Defined.
 The Three E’s: Education, Experience, Exam
 Types of Roles
 Supply and Demand
 What the Market Will Bear
 Who’s the AICPA and State CPA Societies
 Lending Support and Student Resources
What’s In a name?
CPA Defined.
What Is a CPA?
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Stands for Certified Public Accountant
Trusted financial advisor who helps individuals,
businesses, and other organizations plan and reach
their financial goals
All CPAs are accountants, but not all accountants
are CPAs
The CPA credential is a symbol of trust and
professionalism in the world of business
To Become a CPA
• 3 E’s are required for licensure:
– Education
– Exam or Uniform CPA Examination
– Experience
• State Boards of Accountancy determine the
laws and rules for each state/jurisdiction
• Visit NASBA (National Association of State
Boards of Accountancy) for each state’s
requirements - http://www.nasba.org
CPA is a Profession
 Meet ethical and regulatory standards
 Continued professional development
 Valued as a subject matter expert
 Global recognition of licensure
The 3 E’s
Education, Experience, Exam
Education
• Requirements vary by
state/jurisdiction
• Most states now require 150 semester
hours
• Number of accounting hours (in the
150 total) is dependent on state
requirements
Uniform CPA Examination
• Computer-based format
• Consists of 4 sections
– Auditing and Attestation
– Business Environment and Concepts
– Financial Auditing and Reporting
– Regulation
• Same test no matter where it is taken
• Passing score is 75 on a 0-99 scale
• Question types include multiple choice,
simulation and written communication
• Eligibility to sit for exam depends on state
Experience
• A candidate is an applicant for a CPA license
• Many states require the candidate to have 1 –
3 years experience under a CPA
• Additional requirements vary by the
candidate’s:
– Education – e.g. Graduate degree vs. 150 hours of
undergraduate
– Employer(s) – e.g. Public accounting firm vs.
industry
– Type of work – e.g. Tax professional vs. auditor
Licensure
• Licenses gives the
right to practice
public accounting
• Some states require
Ethics exam
• Must comply with
rules of professional
conduct
Maintaining the License
Continuing Professional Education (CPE)
– Typically 40 hours per year
– Types (e.g. computer-based vs. group/classroom
learning) of CPE vary by jurisdiction
– May need Ethics training and compliance
– Subjects vary depending to type of license and
area of employment
Renewal every period
Types of Roles
Types of Roles
HOT POSITIONS
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Accounting Manager
Business Analyst
Business Systems Analyst
Compliance Officer
Financial Analyst
Information Technology
Auditor
Internal Auditor
Payroll Professional
Senior Accountant
Staff Accountant
Source: Robert Half 2016 Salary Guide Accounting and Finance
Attributes of a CPA
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Advanced Excel Skills
Data Analytics
Knowledge of Business
Intelligence Software
MS Visual Basic skills
Knowledge of QuickBooks
Strong Communication Skills
Collaborative Personality
Multilingualism
Inclusionary Mindset
Supply and Demand
Hiring
Hiring also reached
record levels showing
7% growth.
Total Bachelors and Masters hiring
Graduates
50,000
43,252
18,321
45,000
40,000
MASTER’S
35,000
30,000
24,931
25,000
20,000
15,000
10,000
BACHELOR’S
5,000
0
2014
2008
2003
2000
1995
1992
1989
1986
1983
1980
1977
1974
1971
American Institute of CPAs®
19
Supply and Demand
Supply
6% increase in accounting enrollments
Accounting graduates remained steady (less than 1%
decrease)
Demand
All new hires saw 7% growth since 2012
Hiring
= 5,000 graduates
Master’s degree hires saw the largest growth, with an
BACHELOR’S
11% increase; bachelor’s degree hires increased 5%.
MASTER’S
2012
2014
Key Takeaways
Research found optimism from both universities and firms
that the growth of the accounting profession will continue.
Job prospects for current enrollees in accounting programs as
well as recent graduates remains extremely bright.
Visit the AICPA’s existing resources at ThisWayToCPA.com,
intended for college students & CPA Exam candidates, to
explore the possibilities of a career in accounting.
Accounting programs that stress the importance of the CPA,
on-campus employer recruiting, and support from their employer
to pursue their license are factors that influence accounting
graduates to sit for the CPA Exam.
View the full report at
aicpa.org/2015Trends
What the Market Will
Bear
Source: Robert Half 2016 Salary Guide, Holland & Associates Public Accounting Survey
https://www.thiswaytocpa.com/profession/articles/salary-demand/cha-ching-cha-ching/
Who’s the AICPA and
State CPA Societies
AICPA Membership
• National membership organization for the
profession
• Support for the diverse membership and
efforts to build the future of the profession
• Advocacy with standard setters and state
boards
• Professional excellence in terms of
professional ethics, training, peer review
• Discounts and affinity programs
• Specialty areas and credentials
State Society Membership
State CPA Society vs. State Board of
Accountancy
– Society is a membership organization
– Board sets policy
How do Society and AICPA differ?
– National vs. state/jurisdiction
– Work closely together in many cases
Student Organizations and Clubs
Lending Support
Student Resources
ThisWayToCPA Website
CPA profiles
Find Your Fit
Find Your Fit results
Career Tools
CPA Exam Diaries
State & Territory Requirement for Licensure
State & Territory Requirements: North Carolina
NEW: CPA Exam & Licensure Center
Accounting
Competition
AICPA Accounting Competition
Since 2010…
• 2,521 registered participants
• 50 participating states / territories
76.4% of 2014 survey
respondents say the
competition positively
influenced their decision
to pursue a CPA license
AICPA Accounting Competition
• 2015 Topic: Management Accounting
• Case based on fictional toy company
• Team awards to all three finalist teams
• Compete for school awards
AICPA Accounting Competition
• Launch Mid-August
• Competition state society
resources available via email
• Request additional at
ecarson@aicpa.org
Scholarships
National Scholarship Search
WizeHive Online Scholarship Application
Scholarship Platform Features
Platform Features
• Custom question fields with pre-screening
questionnaire
• Collecting unlimited documents online
• Reporting
• Online reference collection
• Custom bulk emails
• Online application review process
Accounting Scholars
Leadership Workshop
(ASLW)
2015 ASLW
Wednesday, July 29 – Friday, July 31, 2015
Baltimore Marriott Waterfront
Baltimore, Maryland
ASLW – Reaching a multitude of scholars
Ethnicity
Asian American
Over
114 40
Students
Black or African American
Filipino AmericanBlack or…
Hispanic or Latino
Multi-ethnic
Native Hawaiian or Pacific…
Other
Volunteers
0%
10%
20%
30%
40%
50%
Gender
Topics include:
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DiSC Assessment
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My Life As a CPA
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Acing the CPA Exam
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Financial Literacy
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Unconscious Bias
Networking
Interviewing
Business Etiquette
34%
66%
2015 ASLW Invitees By State
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2
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1
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3
4
3
1
1
PR
2
1
1
1
3 1
1
3
4
3
7
HI
3
4
1
1
1
2
6
2
AK
1
12
1
4
GU
9
1
Supporting Doctoral
Studies
Ph.D. Initiatives
Support a pipeline of CPAs in academia
ADS – Largest profession-wide effort
– $17 million
– 109 total funded, {get updated
number} completed
– ADS 2.0 planning
AICPA Fellowship for Minority Doctoral
Students
– Incepted in 1969
– Over 130 Minority Doctoral Students
– Collaborating with National
Commission on Diversity & Inclusion
Takeaways
Ripe for the Picking
This career offers these advantages:
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CPA’s are in Demand
Excellent Compensation and Benefits
Sustained Relevance
Job Stability
Prestige/Recognition
Vast Job Options
Entrepreneurial Opportunities
Work location is what you make it
Resources
• NASBA web site at
http://www.nasba.org
• AICPA web site for CPA candidates at
http://www.aicpa.org/Membership/Join/
Pages/default.aspx
• This Way To CPA web site at
http://www.ThisWayToCPA.com
Questions?
© 2015 American Institute of CPAs. All rights reserved.