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

INTRODUCTIONS… Name, job title, where I work, hobbies, etc. Where did I go to school? My office/business is… and looks like…

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

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

What Career is for me? Some things for you 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 – Return on Investment

What is Accounting? A business language. The process of recording, classifying, reporting and analyzing financial data & business transactions -- KEEPING TRACK OF THE MONEY The basis of business operations.

A CPA is…… A Certified Public Accountant (CPA) is a financial professional. CPA’s speak the “language of business.” *They provide the advice and information others need to make important financial business decisions. CPAs are in high demand as a valued member of any Business team!

CPA Career Options (and there are many…!)

Public Accounting Work with many different “external” clients: individuals/companies Provide various services or specialized niches Firms vary in size (International, national, regional, local) Top position is typically a partner

Public Accounting: Tax Assurance/Audit Advisory Services Business Valuation Forensic/Fraud Financial Planning Information Systems Environmental

Governmental Accounting: State/Local/Federal Tax Audit Budgeting Reporting Intelligence/ Special Agent FBI, IRS, White House, NASA, SEC, etc.

Corporate Accounting: Work for one company or organization/ “internal” Tax Internal Audit Management Acct. Analyst Forecasting IT Treasurer, Controller, CEO, CFO, CIO, etc.

Education: Teacher or Administrator (High School, College, Ph.D.) Research Nonprofit Accounting: Accounting Director United Way, PETA, American Cancer Society, Red Cross, etc. Sole Practioner: Starting your own business/firm

Requirements to Become a CPA in CT “The 4 E’s” Education: (2-tiered) To sit for the CPA Exam in Connecticut - bachelor’s degree (120 hours) To be licensed as a CPA in Connecticut -150 credit hours of college education. Pass the CPA Exam: the exam tests your level of accounting knowledge. Experience: Two years of experience in accounting, which may be in the fields of public practice, government, and industry; work must be completed under the supervision of a CPA in good standing. Ethics: “open-book” take home exam.

CPA Salaries Public Accounting: (Audit, Tax, Management Services) Entry Level: $51,500 - $83,250 Senior staff (manager, director): $94,250 - $192,250 Partner level: $200,000 - $300,000+ Corporate Accounting: Entry accountant (cost, tax, general): $45,500 - $75,500 Entry to mid-level auditors (IT, Internal): $57,500 - $96,250 Management (CFO, VP, Treasurer, Controller): $79,250 - $465,750 Average starting salary for accounting majors: $52,900 Sources: 2015 Robert Half Salary Guide, NACE Salary Survey 2014

CPA Salaries Government Accounting: Average median annual wages (accountants/auditors): $61,490 Supervisory: $78,000 (avg) Education: Assistant Professor: $93,500 (avg) Associate Professor: $94,100 (avg) Full Professor: $114,000 (avg) *Higher for doctorate degreed professor On average, individuals with a CPA and/or advanced degrees earn 5-15% more.

Skills Needed to Be a CPA: Effective Communicator Comfortable with Numbers – but NOT a “Math Whiz!” People Person Computer Skills (Excel/Spreadsheets) Organized, Multi-tasker, Problem Solver Ethical & Responsible Networking – Get Involved! (In college there is Accounting/ Business Clubs, VITA, CTCPA Student Membership, etc.)

Benefits of an Accounting Degree: Employment! Growth of 22% between (BLS) Internships ($17-$24/hr) Signing bonuses, financial assistance with education and/or certification requirements, incentive-based rewards Job diversity Occupational mobility (internally and externally) Flexibility High earning potential

CTCPAS.ORG/STUDENTS THISWAYTOCPA.COM

THANK YOU!!!!