Top 10 questions (and answers)about a CPA career CPA SALARIES...
how much does a CPA make?
If you like numbers, you’ll love these. Starting salaries for college grads in public and corporate accounting are excellent, and add an extra 10 percent to these numbers if you’re a CPA. Click here to see the numbers.
What do CPAs do and where do they work?
As a CPA, you may find yourself, working for:
· A public accounting firm, providing tax, audit, IT, environmental and forensic services.
· The FBI, as an agent investigating fraud
· Yourself – operating your own CPA practice from your home
· Everything from a large corporation like Coca-Cola to your local computer store
· Individuals, helping them with their tax, financial and retirement planning
· A nonprofit organization like the Red Cross
· A local college or university teaching accounting classes
Did anybody famous major in accounting?
To name a few:
· John Grisham, best selling author and attorney
· Arthur Black, CEO at HomeDepot
· Phil Knight, founder of Nike
· Doug Investor, CEO of Coke
· Bob Newhart, actor
Skills you need
Problem Solving Skills – You need to be able to look at a problem, interpret the information and generate a useful, efficient solution. You may be called on to solve unusual problems in a number of different settings and must be able to give accurate useful advice.
Written Communication Skills – You will be asked to respond to employers, other employees, individuals, other organizations and also governmental entities. You need to be able to completely and concisely communicate your responses in writing. Many times your written communication not only provides information but must persuade the recipient to your way of thinking.
Oral Communication Skills – Oral communication not only includes verbally presenting information but also includes listening. As with written communication, you need to be able to completely and concisely communicate your thoughts. Many times oral communication entails an interaction between two or more individuals. This is where being a good listener plays an important part. You need to be able to understand what the other person is saying and quickly form an appropriate response.
Computer and Technical Skills – You need to be aware of all types of technologies used in business. This includes both hardware and software applications. You don’t necessarily need to be an expert at each technology but you should be able to use the basics such as e-mail, Internet, spreadsheet, database, word processing and accounting software.
Personal Skills – An accountant needs to be able to work as part of a team as well as in one-on-one situations. You will have to be able to determine the appropriate means of response in many different situations as well as being able to work effectively with others.
Leadership Skills – An accountant needs to be able to direct the operations, activities, and performance of a project. Leading may entail motivating and empowering clients or fellow employees. Being a good leader includes not just being able to direct the output but also to delegate responsibilities.
Networking Skills – As an accountant you may be required to attend various functions to meet people. When networking, you need to be able to get out there, meet people, and generate an interest in your product or service.
High Ethical Standards – Certified Public Accountants are often entrusted with information which is important and also confidential. The public places a high amount of respect upon CPA’s, which must not be undermined. An accountant must have high integrity and be honest.
Project Management Skills – You will need to be able to balance not only a number of projects and deadlines, but also family obligations. Unexpected demands and multiple priorities must be managed and overcome.
Broad Business Perspective – A well-rounded accountant needs to keep abreast of both local and national events. In order to be able to relate well and interact with employees, or clients we must be aware of events that are affecting others’ lives.
How you become a CPA in South Dakota
· Complete 150 college credit hours
· Gain a year of real world experience
· Pass a two-day test of business, auditing and general accounting skills
· Pass the ethics exam
· For more information, visit the South Dakota State Board of Accountancy http://www.state.sd.us/dol/boards/accountancy/acc-home.htm
Where should you go to college?
You should attend any college with an accredited accounting program that qualifies you to sit for the CPA examination.
CPA vs. Accountant: Not all accountants are CPAs
While most people use the term accountant and CPA interchangeably, there’s a big difference. The CPA credential carries enormous weight in business and financial circles. Achieving CPA status takes intelligence, ethics, integrity and lifelong commitment. That means tough business courses at your college or university, then a year of real world experience, and finally a two-day test of business, auditing and general accounting skills. CPAs also are required to follow a strict code of ethics as well as perform within the high standards of the profession. Every three years they must complete 120 hours of continuing professional education to keep up with the new rules and regulations in the financial, accounting and business world.
Is it worth the extra effort? A CPA generally makes an additional 10 percent right off the bat, compared to other professions, and has greater income potential. The CPA profession also commands greater respect and credibility in the business community.
Classes you should take
The following are recommended for a degree in accounting. You’d probably take most of them anyway:
High School
Introductory Accounting
English & Writing
Computer Sciences
Mathematics
Economics
Foreign Language
Fine Arts
History
College
Behavioral Sciences
Communications
Ethics
Economics
Accounting
Computer Sciences
Statistics
Finance
Marketing
Business Law
International Relations
Remember, all work and no play is no good. Don’t forget extracurricular activities, such as after-school clubs and organizations, music, church activities, community service.
Curious about a CPA career?
These Web sites are chockfull of information about the CPA and how to become one.
www.aicpa.org
www.startheregoplaces.com
http://www.smartpros.com/accounting students.xml
www.nextgenaccountant.com
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