ACCOUNTING
Fisher College of Business
Undergraduate Specialization
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Overview
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What is Accounting?
Preparation
Accounting at The Fisher College of Business
Sample Job Titles and Descriptions
Internships
Professional Certifications
Accounting Salaries and Outlook
Student and Professional Organizations
Study Abroad
Accounting Department Contact Information
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
What is Accounting?
• The design and implementation of financial and
cost accounting systems, both budget and actual
• Monitoring of operations through assembling,
analyzing, and interpreting the essential dollars
and cents information of the organization
• The maintenance of records, supplies facts, and
summarizing of these analytically to provide the
planning, control and evaluation necessary to
improve financial operations
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Preparation
• Success in accounting requires keen analytical abilities and a
willingness to stick with a problem until a solution is found
• An accountant should like detail and working with figures, but
does not need an extensive background in mathematics
• Training and/or experience with computers and computer
programming are needed
• The internship program offered to juniors and seniors is a great
help for advanced job placement
• Most employers require a four-year college background with
thirty-six quarter hours of accounting
• The accounting specialization may require in excess of 196
hours to complete
• Commencing in the year 2000, students will need at least 225
(quarter system) credit hours of post-secondary education to sit
for the CPA exam in Ohio
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Accounting at Fisher
Undergraduate Ranking
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13th Nationally - U.S. News and World Report
(2004)
• 10th Nationally - CPA Personnel Report (2003)
Master of Accounting Ranking
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8th Nationally - CPA Personnel Report (2003)
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Accounting Curriculum
Specific information about the Accounting
Specialization can be found on the Fisher
website under:
Current Undergraduates
Academics and Advising
Courses and Specializations
There you will find a complete list of GEC,
core, and specialization requirements as a
downloadable pdf
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Competitive Admissions
Information concerning application to the
Accounting specialization is also available
on the web under:
Admission to Specialization
Admission to the Accounting Specialization
largely depends on space availability
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Honors Option
Offered to the Accounting Specialization
Students (conditions apply)
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Accounting Honors Program
Business Administration Honors Cohort
Program
Individualized Business Administration Honors
Contract Program
– http://fisher.osu.edu/honors/accounting/index.htm
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Also see http://fisher.osu.edu/honors
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Accounting Overview
• The major fields of employment are public (public
accounting firms), private (industrial and commercial
enterprises), and government
• Accountants usually specialize in a field such as auditing,
cost or tax within these areas
• The public accountant usually works in auditing, but
sometimes in tax or management services
• In any case, the public accountant must be a Certified
Public Accountant. A variety of services ranging from
auditing accounts and certifying (attesting to the fairness
of) financial statements for executives and directors of
organizations to carrying out financial investigations in
cases of fraud, insolvency, tax returns, etc., is performed
by the public accountant
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Accounting Overview
• Private accountants make up about fifty percent of the
profession. They perform cost, tax, or internal auditing
operations on financial records of a particular business for
which they work
• The private accountant may be a Certified Management
Accountant or a Certified Internal Auditor
• Government employs a large number of accountants,
some of whom serve as investigators or internal revenue
agents, auditing records of organizations and individuals
subject to government regulation
• The General Accounting Office, the Federal Bureau of
Investigation, and other government agencies also employ
many accountants
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Types of Accounting Jobs
Cost Accountants
• Determine costs associated with high volume
production of goods; cost per unit analysis, set pricing
structures, establish margins
Staff Accountants
• Handle basic accounting
A/P and A/R Professionals
• Manage high volume purchasing activity - incoming &
outgoing payments for products/services
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Types of Accounting Jobs
Auditing
• To obtain reasonable assurance about whether the
financial statements are free of material
misstatement, whether caused by error or fraud
• To evaluate whether there is substantial doubt about
the entity's ability to continue as a going concern for
a reasonable period of time following the date of the
financial statements being audited
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Types of Auditing Jobs
Public Accounting
• Audit other companies’ accounts. Good training ground
- many businesses hire senior level management
positions from public accounting firms; most firms
implement positive culture policies/programs
Internal Audit
• Provide auditing services within the company you work
for
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Accounting Job Descriptions
Closely Held Equity Analyst (at Bank One)
• Contacts the company or partnership to gather and
review financial statements and performance of the
asset; reviews equity section of balance sheet to
determine whether the company has modified its
capital structure
Finance/Accounting Trainee (at Abercrombie & Fitch)
• Assists in the development of corporate budgets;
planning consolidated financial statements;
supporting the evaluation of A&F's forecasts and
projections; preparing weekly financial performance
reports
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Accounting Job Descriptions
Financial Specialist (at Progressive)
• Managing the annual budgeting process for the CV
division, preparing monthly accounting general ledger
entries, preparing numerous financial and analytical
reports
Financial Advisor (at Morgan Stanley)
• Helps individuals plan for their future & achieve their
financial goals; involves contacting prospective clients,
identifying their needs, objectives and financial
capabilities and then prudently selecting and
recommending appropriate action
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Accounting Internships
Cash Reconciliation Specialist (At White Castle
Systems)
• Checkbook reconciliation, contact with banking entities,
filing, etc
Accounting-Finance Coordinator (at Family Works, Inc.)
• Develop cost analysis projections; maintain accounting
records for multiple companies; manage payroll, tax
form preparation and job costs; provide web site
statistical analysis
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Accounting Internships
Accounting Intern (at National Park Foundation)
• Handle the management of funds, maintain fund files,
financial database and conduct administrative duties
Auditing Intern (at Franklin County Auditor’s Office)
• Preparing the vendor database for issuance of IRS
Form 1099s, compiling data and preparing accrual
journal entries for the County’s annual financial report
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Government Accounting
There are rigorous legislative and continuing professional
education rules, tough compliance requirements and
accountability to a number of interested parties, ranging
from federal agencies to the local media
SMALL FIRMS CAN THRIVE in this area as consultants,
however, because of the wide range of potential clients
and types of work, the timing of most engagements
outside of tax season and the chance to rely on on-the-job
training for staff
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Government Accounting
Federal agencies that employ CPAs include the General
Accounting Office, the Defense Contract Audit Agency, the
Federal Bureau of Investigation (FBI), the Internal
Revenue Service (IRS), the Securities and Exchange
Commission (SEC) and dozens of others
At the state level, CPAs currently serve as directors of
various agencies and departments including the Ohio
Auditor of State's office
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Business & Industry
Hired as chief financial officers, controllers, directors of
tax departments and chief accountants. These CPAs
are responsible for developing, analyzing and
reporting on information needed for business
decisions. They also evaluate the financial effects of
management's actions
For small business owners, accountants provide the
basis for organizing financial information, making
well-informed management decisions possible:
designing an accounting system that produces
meaningful financial information
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Business & Industry
Investigates the following:
How much income should the business generate? Will the
company "go public" in the future? When does the owner
want to retire? Will the business be passed on to other
family members?
Provides accounting and financial functions on an ongoing
basis, including the preparation of financial reports,
helping the business to secure loans, preparing financial
projections that show how the loans will be repaid, and
determining if the business is viable.
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Certified Public Accountant
CPAs are many things:
• They are chief financial officers for Fortune 500 companies and
advisors to small neighborhood businesses, they are controllers,
management advisors, internal auditors. They work for public
accounting firms, both small and large and they are also
employed in business and industry, government and not-for-profit
organizations.
• They are well-respected strategic business advisors and
decision-makers and they act as consultants on many issues,
including taxes and accounting
• They also can help individuals and businesses with all aspects of
financial planning and of course, they can help you with your
taxes
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
CPA Certification Requirements
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Complete a program of study in accounting at a
college/university. The AICPA recommends at least 150
semester hours of college to obtain the common body of
knowledge for becoming a CPA.
Pass the Uniform CPA Examination, which is developed and
graded by the AICPA ( the exam consists of four sections:
Business Law & Professional Responsibilities; Auditing;
Accounting & Reporting-Taxation, Managerial, and
Governmental and Not-for-Profit Organizations; and Financial
Accounting & Reporting-Business Enterprises)
Obtain a certain amount of professional work experience in
public accounting (not all states require this).
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Other Certifications
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CMA - Certified Management Accountant
CPP - Certified Payroll Professional
CCE - Certified Credit Executive
PFS - Personal Financial Specialist
CB - Certified Bookkeeper
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Accounting Salaries
Fisher College of Business (2002-2003)
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Full-timeCorporate Accounting $36,500
• Full-time Public Accounting
$41,643
• Intern
$2,674/month
NACE Salary Survey (Spring 2004)
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Full-time Public Accounting
$41.399
Robert Half (Entry Level Salaries)
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Audit/Cost Accountants
• Audit/Tax Management
• Budget/Cost Analysts
Fisher College of Business
The Ohio State University
$26, 500-$34,250
$26,000 - $36,25
$27,000 - $33,750
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Accounting Outlook
At present, over 10,000 accountants are needed
each year to replace those retiring, and an
additional 10,000 annually because of the
growing numbers of organizations, and the
increasing emphasis placed on accounting
information in our society
Starting salaries for accountants with a Bachelor’s
degree cover a wide range and tend to be
affected by the type of industry or organization
involved
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Student Organizations
Accounting Association
•http://student.cob.ohio-state.edu/acctassn/
Undergraduate Business Student Forum
•http://student.cob.ohio-state.edu/ubsf/
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
What Does the Accounting Association Do?
The Accounting Association strives to provide networking
opportunities for accounting students. The goal is to give
students opportunities to meet and interact with business
professionals and other students.
The Accounting Association provides a great opportunity to
learn about the profession outside of the classroom and
can also make contacts that could prove helpful down the
road when looking for internships and full-time positions.
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Professional Organizations
American Institute of Certified Public
Accountants
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http://www.aicpa.org/
State Divisions, Ex: Ohio Society of CPAs
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http://www.ohioscpa.com/
Beta Alpha Psi
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http://www.bap.org/
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Study Abroad & Exchange Contacts
CIBER (Center for International Business
and Research)
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http://fisher.osu.edu/international/ciber/index.ht
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Office of International Education (OSU)
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http://oie.osu.edu/
• OIE has many other opportunities for business
and non-business opportunities to supplement
the Fisher curriculum
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Study Abroad & Exchange Programs (CIBER)
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Copenhagen Business School, Denmark
Technische Universitat Dresden, Germany
Nantes Summer School, France
Trinity College, Dublin, Ireland
Quinn School of Business, Dublin, Ireland
London School of Economics, England
Instituto Technologico y de Estudios Superiores de
Monterrey, Mexico
• Hong Kong University of Science and Technology
• Singapore Management University
• Curtin School of Business, Perth, Australia
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Max M. Fisher College of Business
Academic Department: Accounting
Ohio State University
400 Fisher Hall
2100 Neil Avenue
Columbus, OH 43210
(614)292-9368
http://fisher.osu.edu/acctmis/
Fisher College of Business
The Ohio State University
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career
Fisher logo
fisher.osu.edu
Fisher College of Business
The Ohio State University
http://fisher.osu.edu
Office of Career Services
150 Gerlach Hall 2108 Neil Avenue
614-292-8616 fisher.osu.edu/career